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OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION
 12 Months Ended
Sep. 30, 2019
Operating Cash Flow Disclosure [Abstract]  
OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION
 
 
Year Ended September 30,
 
2019
 
2018
 
2017
 
(in millions)
OPERATING ACTIVITIES
 
 
 
 
 
Net income
$
296

 
$
126

 
$
328

Less: Income (loss) from discontinued operations, net of tax
1

 
(3
)
 
(1
)
Income from continuing operations
295

 
129

 
329

Adjustments to income from continuing operations to arrive at cash provided by operating activities:
 
 
 
 
 
Depreciation and amortization
87

 
84

 
75

Deferred income tax expense
40

 
74

 
38

Restructuring costs
8

 
6

 
6

Loss on debt extinguishment
—

 
8

 
36

Asset impairment
10

 
3

 
4

Equity in earnings of affiliates
(31
)
 
(27
)
 
(48
)
Stock compensation expense
18

 
20

 
19

Provision for doubtful accounts
—

 
(1
)
 
1

Pension and retiree medical expense (income)
(37
)
 
(31
)
 
11

Pension settlement loss
—

 
6

 
—

Asbestos related liability remeasurement
(31
)
 
—

 
—

Contribution to Maremont trust
(48
)
 
—

 
—

Gain on sale of equity method investment
—

 
—

 
(243
)
Dividends received from equity method investments
23

 
17

 
44

Pension and retiree medical contributions
(16
)
 
(21
)
 
(38
)
Restructuring payments
(5
)
 
(8
)
 
(15
)
Changes in off-balance sheet receivable securitization and factoring programs
(18
)
 
11

 
26

Changes in assets and liabilities, excluding effects of acquisitions, divestitures, foreign currency adjustments and discontinued operations:
 
 
 
 
 
Receivables
80

 
(98
)
 
(160
)
Inventories
9

 
(112
)
 
(43
)
Accounts payable
(103
)
 
97

 
133

Other current assets and liabilities
(3
)
 
36

 
16

Other assets and liabilities
(22
)
 
59

 
(12
)
Operating cash flows provided by continuing operations
256

 
252

 
179

Operating cash flows used for discontinued operations
—

 
(1
)
 
(3
)
CASH PROVIDED BY OPERATING ACTIVITIES
$
256

 
$
251

 
$
176


 
 
September 30,
 
2019
 
2018
 
2017
 
(In millions)
Balance sheet data:
 
 
 
 
 
Allowance for doubtful accounts
$
3

 
$
4

 
$
5

Statement of operations data:
 
 
 
 
 
Maintenance and repairs expense
55

 
52

 
46

Research, development and engineering expense
75

 
73

 
69

Depreciation expense
76

 
74

 
67

Rental expense
19

 
18

 
14

Interest income
4

 
3

 
3

Interest expense
(61
)
 
(70
)
 
(122
)
Statement of cash flows data:
 
 
 
 
 
Interest payments, net of receipts
41

 
49

 
75

Income tax payments, net of refunds
64

 
33

 
22

Non-cash investing activities - capital asset additions from capital leases
—

 
4

 
—