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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2024
Sep. 30, 2023
Current assets    
Cash and cash equivalents $ 300 $ 417
Accounts receivable - Notes A and H [1] 243 338
Inventories - Note A 545 626
Other assets 107 125
Total current assets 1,195 1,506
Property, plant and equipment - Note F    
Cost 3,316 3,211
Accumulated depreciation 2,013 1,838
Net property, plant and equipment 1,303 1,373
Goodwill - Note G 1,381 1,362
Intangibles - Note G 751 886
Operating lease assets, net - Note J 114 122
Restricted investments - Note E 295 290
Asbestos insurance receivable - Notes A and M [2] 132 127
Deferred income taxes - Note K 210 22
Other assets - Note I 264 251
Total noncurrent assets 4,450 4,433
Total assets 5,645 5,939
Current liabilities    
Short-term debt - Note H 0 16
Trade and other payables 214 210
Accrued expenses and other liabilities 256 208
Current operating lease obligations - Note J 20 22
Total current liabilities 490 456
Noncurrent liabilities    
Long-term debt - Note H 1,349 1,314
Asbestos litigation reserve - Note M 414 427
Deferred income taxes - Note K 29 148
Employee benefit obligations - Note L 110 100
Operating lease obligations - Note J 99 106
Other liabilities - Note I 286 291
Total noncurrent liabilities 2,287 2,386
Commitments and contingencies - Notes J and M
Equity - Notes N and O    
Common stock, par value $.01 per share, 200 million shares authorized Issued 47 million and 51 million shares in 2024 and 2023 1 1
Paid-in capital   4
Retained earnings 3,315 3,595
Accumulated other comprehensive loss (448) (503)
Total equity 2,868 3,097
Total liabilities and equity $ 5,645 $ 5,939
[1] Accounts receivable includes an allowance for credit losses of $2 million and $3 million at September 30, 2024 and 2023, respectively.
[2] Asbestos insurance receivable includes an allowance for credit losses of $2 million at both September 30, 2024 and 2023.