Supplemental Financial Information

12 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Information

Supplemental Financial Information

Other Expense, Net

(Millions of dollars)	2023		2022		2021
Other investment (losses) gains, net (a)	$	(3)	$	(35)	$	57
Deferred compensation	32		(46)		43
Net pension and postretirement benefit cost (b)	(98)		(17)		(1)
Losses on undesignated foreign exchange derivatives, net	(36)		(28)		(13)
Impacts of debt extinguishment (c)	—		(24)		(178)
Embecta service agreements income, net (d)	59		33		—
Other	—		1		(6)
Other expense, net	$	(46)	$	(117)	$	(99)

(a)The amounts include (losses) gains recognized relating to certain equity investments.

(b)Represents all components of the Company’s net periodic pension and postretirement benefit costs, aside from service cost, including pension settlement expenses of $57 million and $73 million in fiscal years 2023 and 2022, respectively.

(c)Represents losses recognized upon the extinguishment of certain senior notes, as further discussed in Note 16.

(d)Consists of net income from transition and logistics service agreements with Embecta following the spin-off of the former diabetes care business in fiscal year 2022, as further discussed in Note 2.

Trade Receivables, Net

The amounts recognized in 2023, 2022 and 2021 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, 2020	$	76		$	12	$	88
Additions charged to costs and expenses	17			84		101
Deductions and other	(20)		(a)	(77)		(97)
Balance at September 30, 2021	$	73		$	18	$	91
Additions charged to costs and expenses	4			73		77
Deductions and other	(12)		(a)	(75)		(87)
Balance at September 30, 2022	$	65		$	16	$	81
Additions charged to costs and expenses	9			100		109
Deductions and other	(10)		(a)	(100)		(110)
Balance at September 30, 2023	$	65		$	16	$	81

(a)Accounts written off.

Inventories

Inventories at September 30 consisted of:

(Millions of dollars)	2023		2022
Materials	$	714	$	707
Work in process	381		397
Finished products	2,178		2,120
	$	3,273	$	3,224

Property, Plant and Equipment, Net

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

(Millions of dollars)	2023		2022
Land	$	131	$	127
Buildings	3,537		3,252
Machinery, equipment and fixtures	9,609		8,769
Leasehold improvements	301		266
	13,578		12,415
Less accumulated depreciation and amortization	7,021		6,402
	$	6,557	$	6,012