Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Cash and Cash Equivalents

The following reconciles cash and equivalents and restricted cash reported within the Company's condensed consolidated balance sheets at March 31, 2024 and September 30, 2023 to the total of these amounts shown on the Company's condensed consolidated statements of cash flows:

(Millions of dollars)	March 31, 2024		September 30, 2023
Cash and equivalents	$	2,348	$	1,416
Restricted cash	46		65
Cash and equivalents and restricted cash	$	2,394	$	1,481

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	March 31, 2024		September 30, 2023
Institutional money market accounts (a)	Level 1	$	411	$	373
Current portion of long-term debt (b)	Level 2	2,001		1,122
Long-term debt (b)	Level 2	14,763		12,850

(a)These financial instruments are recorded within Cash and equivalents on the condensed consolidated balance sheets. The institutional money market accounts permit daily redemption. The fair values of these investments are based upon the quoted prices in active markets provided by the holding financial institutions.

(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.

	Three Months Ended March 31,				Six Months Ended March 31,
(Millions of dollars)	2024		2023		2024		2023
Trade receivables transferred to third parties under factoring arrangements	$	361	$	750	$	740	$	1,490

	March 31, 2024		September 30, 2023
Amounts yet to be collected and remitted to the third parties	$	357	$	357