Supplemental Financial Information (Tables)

12 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Nonoperating Income (Expense)

Other Income (Expense), Net

(Millions of dollars)	2021		2020		2019
Other investment gains, net (a)	$	57	$	13	$	18
Deferred compensation	43		24		6
Net pension and postretirement benefit cost (b)	(1)		7		(2)
Losses on undesignated foreign exchange derivatives, net	(13)		(17)		(23)
Losses on debt extinguishment (c)	(178)		(8)		(59)
Product related matters	(2)		(9)		—
Royalty and licensing income (d)	—		17		64
Hurricane-related insurance proceeds	—		—		35
Other	(3)		(3)		4
Other (expense) income, net	$	(97)	$	23	$	43

(a)The amounts include gains (losses) recognized on changes to the fair value of certain equity investments. The amount in 2020 also includes a gain on the sale of an equity investment.

(b)Represents all components of the Company’s net periodic pension and postretirement benefit costs, aside from service cost.

(c)Represents losses recognized upon the extinguishment of certain senior notes, as further discussed in Note 15.

(d)The amount in 2020 primarily represents licensing income. The amount in 2019 primarily represents the royalty income stream acquired in the Bard transaction, net of non-cash purchase accounting amortization. The royalty income stream was previously reported by Bard as revenues.

Trade Receivables, Allowances for Doubtful Accounts and Cash Discounts

The amounts recognized in 2021, 2020 and 2019 relating to allowances for doubtful accounts and cash discounts, which are netted against trade receivables, are provided in the following table:

(Millions of dollars)	Allowance for Doubtful Accounts			Allowance for Cash Discounts		Total
Balance at September 30, 2018	$	75		$	12	$	86
Additions charged to costs and expenses	31			94		125
Deductions and other	(31)		(a)	(92)		(123)
Balance at September 30, 2019	$	75		$	13	$	88
Additions charged to costs and expenses	40			39		78
Deductions and other	(35)		(a)	(38)		(73)
Balance at September 30, 2020	$	80		$	14	$	94
Additions charged to costs and expenses	18			99		118
Deductions and other	(22)		(a)	(92)		(114)
Balance at September 30, 2021	$	76		$	21	$	97

(a)Accounts written off.

Inventories

Inventories at September 30 consisted of:

(Millions of dollars)	2021		2020
Materials	$	641	$	602
Work in process	402		335
Finished products	1,823		1,806
	$	2,866	$	2,743

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net at September 30 consisted of:

(Millions of dollars)	2021		2020
Land	$	137	$	166
Buildings	3,264		3,082
Machinery, equipment and fixtures	9,301		8,454
Leasehold improvements	241		216
	12,942		11,919
Less accumulated depreciation and amortization	6,549		5,996
	$	6,393	$	5,923