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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Operating Activities      
Net Income $ 1,484 $ 1,779 $ 2,092
(Loss) Income from Discontinued Operations, Net of Tax (46) 144 488
Net Income from Continuing Operations 1,530 1,635 1,604
Adjustments to net income from continuing operations to derive net cash provided by continuing operating activities:      
Depreciation and amortization 2,288 2,229 2,230
Share-based compensation 259 233 229
Deferred income taxes (622) (120) (301)
Change in operating assets and liabilities:      
Trade receivables, net (290) 32 (61)
Inventories (15) (631) (83)
Prepaid expenses and other 192 (436) (184)
Accounts payable, income taxes and other liabilities (517) (473) 660
Pension obligation 112 (55) 71
Excess tax benefits from payments under share-based compensation plans 19 32 15
Gain on sale of business (268) 0 0
Inventory Recall Expense 653 72 56
Product liability-related charges 26 21 361
Other, net (377) (68) (470)
Net Cash Provided by Continuing Operating Activities 2,990 2,471 4,126
Investing Activities      
Capital expenditures (874) (973) (1,194)
Acquisitions, net of cash acquired 0 (2,070) (508)
Proceeds from divestitures, net 540 0 0
Other, net (382) (178) (142)
Net Cash Used for Continuing Investing Activities (716) (3,220) (1,843)
Financing Activities      
Change in short-term debt (230) 230 0
Proceeds from long-term debt 1,662 497 4,869
Distribution from Embecta Corp. (see Note 2) 0 1,266 0
Net transfer of cash to Embecta upon spin-off 0 (265) 0
Payments of debt (2,155) (805) (5,112)
Repurchase of common stock 0 (500) (1,750)
Dividends paid (1,114) (1,082) (1,048)
Other, net (120) (77) (265)
Net Cash Used for Continuing Financing Activities (1,956) (736) (3,306)
Net cash (used for) provided by operating activities (1) 163 521
Net cash used for investing activities 0 (11) (37)
Net cash provided by financing activities 0 145 0
Net Cash (Used for) Provided by Discontinued Operations (1) 298 484
Effect of exchange rate changes on cash and equivalents and restricted cash 5 (45) 15
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 322 (1,233) (525)
Opening Cash and Equivalents and Restricted Cash 1,159 2,392 2,917
Closing Cash and Equivalents and Restricted Cash $ 1,481 $ 1,159 $ 2,392