Shareowners' Equity (Tables)

9 Months Ended

Jun. 30, 2015

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

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 1.1 million shares of its common stock for $14 million during the third quarter of fiscal year 2015 through open market transactions. Also, in the third quarter of fiscal year 2015, the company repurchased $4 million principal amount of its 4.0 percent convertible notes due 2027 for $4 million (see Note 16).

For the nine months ended June 30, 2015, the company has repurchased 2.3 million shares of common stock for $30 million and $19 million principal amount of its 4.0 percent convertible notes due 2027 pursuant to this authorization. The amount remaining available for repurchases under the authorization is $161 million at June 30, 2015.

On May 18, 2015, the Offering Committee of the company's Board of Directors approved a repurchase program for up to $175 million aggregate principal amount at maturity of its 7.875 percent convertible notes due 2026 from time to time prior to September 30, 2015, subject to compliance with legal and regulatory requirements and its debt covenants. This repurchase program is in addition to the equity and equity-linked and debt repurchase programs described above. During the third quarter of fiscal year 2015, the company repurchased $85 million principal amount at maturity of the company's 7.875 percent convertible notes for $139 million (see Note 16). The amount remaining available for repurchases under the authorization is $90 million at June 30, 2015.

Accumulated Other Comprehensive Loss (AOCL)

The components of AOCL and the changes in AOCL by components, net of tax, for three months ended June 30, 2015 and 2014 are as follows (in millions):

	Foreign Currency Translation			Employee Benefit Related Adjustments			Unrealized Loss, net of tax			Total
Balance at March 31, 2015	$	(25	)	$	(766	)	$	(2	)	$	(793	)
Other comprehensive income (loss) before reclassification	13			1			(2		)	12
Amounts reclassified from accumulated other comprehensive loss - net of tax	—			11			—			11
Net current-period other comprehensive income (loss)	$	13		$	12		$	(2	)	$	23
Balance at June 30, 2015	$	(12	)	$	(754	)	$	(4	)	$	(770	)

The components of AOCL and the changes in AOCL by components, net of tax, for nine months ended June 30, 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	(54		)	—			(3		)	(57		)
Amounts reclassified from accumulated other comprehensive loss - net of tax	1			35			—			36
Net current-period other comprehensive income (loss)	$	(53	)	$	35		$	(3	)	$	(21	)
Balance at June 30, 2015	$	(12	)	$	(754	)	$	(4	)	$	(770	)

	Foreign Currency Translation		Employee Benefit Related Adjustments			Unrealized Loss, net of tax			Total
Balance at March 31, 2014	$	61	$	(772	)	$	(1	)	$	(712	)
Other comprehensive income before reclassification	8		—			—			8
Amounts reclassified from accumulated other comprehensive loss - net of tax	—		11			—			11
Net current-period other comprehensive income	$	8	$	11		$	—		$	19
Balance at June 30, 2014	$	69	$	(761	)	$	(1	)	$	(693	)

	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	8		2			2			12
Amounts reclassified from accumulated other comprehensive loss - net of tax	—		29			—			29
Net current-period other comprehensive income	$	8	$	31		$	2		$	41
Balance at June 30, 2014	$	69	$	(761	)	$	(1	)	$	(693	)

Reclassification out of accumulated other comprehensive income

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	$	(1	)	(a)
Actuarial losses	36			(a)
	35			Total before tax
	—			Tax (benefit) expense
	35			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	$	36		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).

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	12			(b)
	10			Total before tax
	1			Tax expense
	11			Net of tax
Total reclassifications for the period	$	11		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).

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	$	(1	)	(a)
Actuarial losses	12			(a)
	11			Total before tax
	—			Tax (benefit) expense
Total reclassifications for the period	$	11		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).

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	$	(6	)	(b)
Actuarial losses	35			(b)
	29			Total before tax
	—			Tax (benefit) expense
	29			Net of tax
Total reclassifications for the period	$	29		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).