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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2021
Sep. 30, 2020
Current assets    
Cash and cash equivalents $ 210 $ 454
Accounts receivable - Notes A and I [1] 369 437
Inventories - Note A 473 506
Other assets 68 87
Current assets held for sale - Note C 597 63
Total current assets 1,717 1,547
Property, plant and equipment - Note G    
Cost 3,066 3,002
Accumulated depreciation 1,639 1,517
Net property, plant and equipment 1,427 1,485
Goodwill - Note H 1,430 1,305
Intangibles - Note H 1,099 1,011
Operating lease assets, net - Note K 124 126
Restricted investments - Note F 384 301
Asbestos insurance receivable - Note A and N [2] 134 136
Deferred income taxes - Note L 30 26
Noncurrent assets held for sale - Note C 0 546
Other assets - Note J 267 394
Total noncurrent assets 4,895 5,330
Total assets 6,612 6,877
Current liabilities    
Short-term debt - Note I 365 280
Current portion of long-term debt 9 0
Trade and other payables 236 211
Accrued expenses and other liabilities 251 272
Current operating lease obligations - Note K 23 22
Current liabilities held for sale - Note C 50 28
Total current liabilities 934 813
Noncurrent liabilities    
Long-term debt - Note I 1,596 1,573
Asbestos litigation reserve - Note N 490 513
Deferred income taxes - Note L 237 229
Employee benefit obligations - Note M 144 157
Operating lease obligations - Note K 110 114
Noncurrent liabilities held for sale - Note C 0 10
Other liabilities - Note J 349 432
Total noncurrent liabilities 2,926 3,028
Commitments and contingencies - Notes K and N
Equity - Notes O and P    
Common stock, par value $.01 per share, 200 million shares authorized Issued 57 million and 61 million shares in 2021 and 2020 1 1
Paid-in capital 327 769
Retained earnings 2,796 2,649
Accumulated other comprehensive loss (372) (383)
Total equity 2,752 3,036
Total liabilities and equity $ 6,612 $ 6,877
[1] Accounts receivable includes an allowance for credit losses of $2 million and $3 at September 30, 2021 and 2020, respectively
[2] Asbestos insurance receivable includes an allowance for credit losses of $3 million and zero at September 30, 2021 and 2020, respectively.