Shareowners' Equity

6 Months Ended

Mar. 31, 2015

Equity [Abstract]

Shareowners' Equity

Shareowners' Equity

Equity and Equity-Linked Repurchase Authorization

In June 2014, the company's Board of Directors authorized the repurchase of up to $210 million of its equity and equity-linked securities (including convertible debt securities), subject to the achievement of its M2016 net debt reduction target and compliance with legal and regulatory requirements and its debt covenants. In September 2014, the company's Board authorized the repurchase of up to $40 million of its equity or equity-linked securities (including convertible debt securities) under the $210 million authorization that may be made annually without regard to achievement of the M2016 net debt reduction target. These authorizations have no stated expiration.

The equity and equity-linked securities repurchases are subject to prevailing market conditions and other considerations. Under the program, the company repurchased 1.2 million shares of its common stock for $16 million during the second quarter of fiscal year 2015 through open market transactions. Also, in the second quarter of fiscal year 2015, the company repurchased $15 million principal amount of its 4.0 percent convertible notes due 2027 for $16 million (see Note 16). The amount remaining available for repurchases under the authorization is $179 million at March 31, 2015.

Accumulated Other Comprehensive Loss (AOCL)

The components of AOCL and the changes in AOCL by components, net of tax, for three months ended March 31, 2015 and 2014 are as follows (in millions):

	Foreign Currency Translation			Employee Benefit Related Adjustments			Unrealized Loss, net of tax			Total
Balance at December 31, 2014	$	8		$	(777	)	$	(2	)	$	(771	)
Other comprehensive loss before reclassification	(33		)	(1		)	—			(34		)
Amounts reclassified from accumulated other comprehensive loss - net of tax	—			12			—			12
Net current-period other comprehensive income (loss)	$	(33	)	$	11		$	—		$	(22	)
Balance at March 31, 2015	$	(25	)	$	(766	)	$	(2	)	$	(793	)

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income		Affected Line Item in the Consolidated Statement of Operations
Employee Benefit Related Adjustment
Actuarial losses	$	12	(a)
	12		Total before tax
	—		Tax (benefit) expense
Total reclassifications for the period	$	12	Net of tax
(a)  These accumulated other comprehensive income components are included in the computation of net periodic pension and retiree medical expense (see Note 18 for additional details).

	Foreign Currency Translation		Employee Benefit Related Adjustments			Unrealized Loss, net of tax			Total
Balance at December 31, 2013	$	51	$	(782	)	$	(3	)	$	(734	)
Other comprehensive income before reclassification	10		2			2			14
Amounts reclassified from accumulated other comprehensive income - net of tax	—		8			—			8
Net current-period other comprehensive income	$	10	$	10		$	2		$	22
Balance at March 31, 2014	$	61	$	(772	)	$	(1	)	$	(712	)

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Consolidated Statement of Operations
Employee Benefit Related Adjustment
Prior service costs	$	(2	)	(b)
Actuarial losses	11			(b)
	9			Total before tax
	(1		)	Tax benefit
	8			Net of tax
Total reclassifications for the period	$	8		Net of tax
(b)  These accumulated other comprehensive income components are included in the computation of net periodic pension and retiree medical expense (see Note 18 for additional details).

The components of AOCL and the changes in AOCL by components, net of tax, for six months ended March 31, 2015 and 2014 are as follows (in millions):

	Foreign Currency Translation			Employee Benefit Related Adjustments			Unrealized Loss, net of tax			Total
Balance at September 30, 2014	$	41		$	(789	)	$	(1	)	$	(749	)
Other comprehensive loss before reclassification	(67		)	(1		)	(1		)	(69		)
Amounts reclassified from accumulated other comprehensive loss - net of tax	1			24			—			25
Net current-period other comprehensive income (loss)	$	(66	)	$	23		$	(1	)	$	(44	)
Balance at March 31, 2015	$	(25	)	$	(766	)	$	(2	)	$	(793	)

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income		Affected Line Item in the Consolidated Statement of Operations
Employee Benefit Related Adjustment
Actuarial losses	$	24	(a)
	24		Total before tax
	—		Tax (benefit) expense
	24		Net of tax
Foreign Currency Translation Related Adjustment
Other reclassification adjustment	$	1	(b)
	1		Total before tax
	—		Tax (benefit) expense
	1		Net of tax
Total reclassifications for the period	$	25	Net of tax
(a)  These accumulated other comprehensive income components are included in the computation of net periodic pension and retiree medical expense (see Note 18 for additional details).
(b)  These accumulated other comprehensive income components are included in the computation of loss from discontinued operations (see Note 4).

	Foreign Currency Translation		Employee Benefit Related Adjustments			Unrealized Loss, net of tax			Total
Balance at September 30, 2013	$	61	$	(792	)	$	(3	)	$	(734	)
Other comprehensive income before reclassification	—		2			2			4
Amounts reclassified from accumulated other comprehensive income - net of tax	—		18			—			18
Net current-period other comprehensive income	$	—	$	20		$	2		$	22
Balance at March 31, 2014	$	61	$	(772	)	$	(1	)	$	(712	)

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Consolidated Statement of Operations
Employee Benefit Related Adjustment
Prior service costs	$	(4	)	(b)
Actuarial losses	23			(b)
	19			Total before tax
	(1		)	Tax benefit
	18			Net of tax
Total reclassifications for the period	$	18		Net of tax
(b)  These accumulated other comprehensive income components are included in the computation of net periodic pension and retiree medical expense (see Note 18 for additional details).