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Shareholders' Equity
 12 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
Shareholders’ Equity
Changes in certain components of shareholders’ equity were as follows:
 
Common
Stock  Issued
at Par Value
 
Capital in
Excess of
Par Value
 
Retained
Earnings
 
Deferred
Compensation
 
Treasury Stock
(Millions of dollars)
Shares (in
thousands)
 
Amount
Balance at September 30, 2013
$
333

 
$
2,068

 
$
11,342

 
$
19

 
(138,663
)
 
$
(8,204
)
Net income
—

 
—

 
1,185

 
—

 
—

 
—

Cash dividends:
 
 
 
 
 
 
 
 
 
 
 
Common ($2.18 per share)
—

 
—

 
(421
)
 
—

 
—

 
—

Common stock issued for:
 
 
 
 
 
 
 
 
 
 
 
Share-based compensation and other plans, net
—

 
19

 
—

 
—

 
1,431

 
3

Share-based compensation
—

 
111

 
—

 
—

 
—

 
—

Common stock held in trusts, net
—

 
—

 
—

 
—

 
36

 
—

Repurchase of common stock
—

 
—

 
—

 
—

 
(3,574
)
 
(400
)
Balance at September 30, 2014
$
333

 
$
2,198

 
$
12,105

 
$
19

 
(140,770
)
 
$
(8,601
)
Net income
—

 
—

 
695

 
—

 
—

 
—

Cash dividends:
 
 
 
 
 
 
 
 
 
 
 
Common ($2.40 per share)
—

 
—

 
(485
)
 
—

 
—

 
—

Common stock issued for:
 
 
 
 
 
 
 
 
 
 
 
Share-based compensation and other plans, net
—

 
30

 
(2
)
 
1

 
2,839

 
(6
)
Acquisitions
—

 
2,083

 
—

 
—

 
15,959

 
368

Share-based compensation
—

 
164

 
—

 
—

 
—

 
—

Common stock held in trusts, net
—

 
—

 
—

 
—

 
5

 
—

Balance at September 30, 2015
$
333

 
$
4,475

 
$
12,314

 
$
20

 
(121,967
)
 
$
(8,239
)
Net income
—

 
—

 
976

 
—

 
—

 
—

Cash dividends:
 
 
 
 
 
 
 
 
 
 
 
Common ($2.64 per share)
—

 
—

 
(562
)
 
—

 
—

 
—

Common stock issued for:
 
 
 
 
 
 
 
 
 
 
 
Share-based compensation and other plans, net
—

 
27

 
(1
)
 
2

 
2,607

 
26

Share-based compensation
—

 
191

 
—

 
—

 
—

 
—

Common stock held in trusts, net
—

 
—

 
—

 
—

 
(11
)
 
—

Balance at September 30, 2016
$
333

 
$
4,693

 
$
12,727

 
$
22

 
(119,371
)
 
$
(8,212
)

Common stock held in trusts represents rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan.
The components and changes of Accumulated other comprehensive income (loss) were as follows:
(Millions of dollars)
Total
 
Foreign
Currency
Translation
 
Benefit Plans
 
Cash Flow
Hedges
Balance at September 30, 2013
$
(516
)
 
$
74

 
$
(558
)
 
$
(31
)
Other comprehensive loss before reclassifications, net of taxes
(524
)
 
(344
)
 
(180
)
 
—

Amounts reclassified into income, net of
taxes
38

 
—

 
33

 
5

Balance at September 30, 2014
$
(1,001
)
 
$
(270
)
 
$
(705
)
 
$
(26
)
Other comprehensive loss before reclassifications, net of taxes
(787
)
 
(692
)
 
(80
)
 
(16
)
Amounts reclassified into income, net of
taxes
50

 
—

 
44

 
6

Balance at September 30, 2015
$
(1,738
)
 
$
(961
)
 
$
(741
)
 
$
(36
)
Other comprehensive loss before reclassifications, net of taxes
(251
)
 
(50
)
 
(190
)
 
(11
)
Amounts reclassified into income, net of
taxes
60

 
—

 
48

 
12

Balance at September 30, 2016
$
(1,929
)
 
$
(1,011
)
 
$
(883
)
 
$
(35
)

The tax impacts for amounts recognized in other comprehensive income before reclassifications were as follows:
(Millions of dollars)
2016
 
2015
 
2014
Benefit Plans
 
 
 
 
 
Income tax benefit for net losses recorded in other comprehensive income
$
79

 
$
47

 
$
86

 
 
 
 
 
 
Cash Flow Hedges
 
 
 
 
 
Income tax benefit for net losses recorded in other comprehensive income
$
7

 
$
10

 
$
—


Reclassifications out of Accumulated other comprehensive income (loss) were as follows:
(Millions of dollars)
2016
 
2015
 
2014
Benefit Plans
 
 
 
 
 
Reclassification of credits and losses into income
$
73

 
$
67

 
$
51

Associated income tax benefits
(25
)
 
(23
)
 
(17
)
Amounts reclassified into income, net of taxes (A)
$
48

 
$
44

 
$
33

 
 
 
 
 
 
Cash Flow Hedges
 
 
 
 
 
Reclassification of losses into income
$
19

 
$
10

 
$
8

Associated income tax benefits
(7
)
 
(4
)
 
(3
)
Amounts reclassified into income, net of taxes (B)
$
12

 
$
6

 
$
5

(A)
These reclassifications were not recorded into income in their entirety and were included in the computation of net periodic benefit plan costs. Additional details regarding the Company's benefit plans are provided in Note 8.
(B)
These reclassifications were recorded to Interest expense and Cost of products sold. Additional details regarding the Company's cash flow hedges are provided in Note 13.

On August 25, 2016, in anticipation of proceeds to be received from the divestiture of the Respiratory Solutions business in the first quarter of fiscal year 2017, the Company entered into an accelerated share repurchase ("ASR") agreement. Subsequent to the end of the Company's fiscal year 2016 and as per the terms of the ASR agreement, the Company received approximately 1.3 million shares of its common stock, which was recorded as a $220 million increase to Common stock in treasury.