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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2019
Sep. 30, 2018
Current assets    
Cash and cash equivalents $ 232 $ 294
Accounts receivable [1] 481 522
Inventories - Note A 597 596
Other assets 64 60
Current assets held for sale - Note D 59 240
Total current assets 1,433 1,712
Property, plant and equipment - Note H    
Cost 3,165 3,172
Accumulated depreciation 1,588 1,526
Net property, plant and equipment 1,577 1,646
Goodwill - Note I 2,253 2,304
Intangibles - Note I 1,088 1,185
Restricted investments - Note G 310 312
Asbestos insurance receivable - Note O 157 179
Deferred income taxes - Note M 23 28
Other assets - Note K 410 416
Noncurrent assets held for sale - Note D   477
Total noncurrent assets 5,818 6,547
Total assets 7,251 8,259
Current liabilities    
Short-term debt - Note J 166 254
Trade and other payables 313 331
Accrued expenses and other liabilities 271 328
Current liabilities held for sale - Note D 7 163
Total current liabilities 757 1,076
Noncurrent liabilities    
Long-term debt - Note J 1,501 2,275
Asbestos litigation reserve - Note O 555 612
Deferred income taxes - Note M 264 286
Employee benefit obligations - Note N 150 156
Other liabilities - Note K 453 422
Noncurrent liabilities held for sale - Note D   26
Total noncurrent liabilities 2,923 3,777
Commitments and contingencies - Notes L and O
Equity - Notes P and Q    
Common stock, par value $.01 per share, 200 million shares authorized Issued 60 million and 62 million shares in 2019 and 2018 1 1
Paid-in capital 756 946
Retained earnings 3,224 2,750
Accumulated other comprehensive loss (410) (291)
Total equity 3,571 3,406
Total liabilities and equity $ 7,251 $ 8,259
[1] Accounts receivable includes an allowance for doubtful accounts of $3 million at both September 30, 2019 and 2018.