Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Cash and Cash Equivalents

The following reconciles cash and equivalents and restricted cash reported within the Company's consolidated balance sheets at September 30, 2023 and 2022 to the total of these amounts shown on the Company's consolidated statements of cash flows:

(Millions of dollars)	2023		2022
Cash and equivalents	$	1,416	$	1,006
Restricted cash	65		153
Cash and equivalents and restricted cash	$	1,481	$	1,159

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The fair values of the Company’s financial instruments are as follows:

(Millions of dollars)	Basis of fair value measurement (See Note 1)	2023		2022
Institutional money market accounts (a)	Level 1	$	373	$	1
Current portion of long-term debt (b)	Level 2	1,122		1,927
Long-term debt (b)	Level 2	12,850		12,119

(a)These financial instruments are recorded within Cash and equivalents on the consolidated balance sheets. The institutional money market accounts permit daily redemption.

(b)Long-term debt is recorded at amortized cost. The fair value of long-term debt is measured based upon quoted prices in active markets for similar instruments

Transfer of Financial Assets Accounted for as Sales

The amounts transferred and yet to be remitted under factoring arrangements are provided below.

(Millions of dollars)	2023		2022		2021
Trade receivables transferred to third parties under factoring arrangements	$	2,615	$	1,215	$	1,189
(Millions of dollars)	2023		2022
Amounts yet to be collected and remitted to the third parties	357		323