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Financial Instruments (Tables)
 9 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Instruments
The following table summarizes our outstanding interest rate management contracts and cross currency interest rate swaps:
 
 
30 June 2019
 
30 September 2018
 
 
US$
Notional
 
Average
Pay %
 
Average
Receive
%
 
Years
Average
Maturity
 
US$
Notional
 
Average
Pay %
 
Average
Receive
%
 
Years
Average
Maturity
Interest rate swaps
(fair value hedge)
 

$600.0

 
LIBOR

 
2.60
%
 
0.9
 

$600.0

 
LIBOR

 
2.60
%
 
1.6
Cross currency interest rate swaps
(net investment hedge)
 

$246.6

 
4.55
%
 
3.09
%
 
2.9
 

$201.7

 
4.42
%
 
2.97
%
 
3.1
Cross currency interest rate swaps
(cash flow hedge)
 

$1,063.5

 
4.85
%
 
2.94
%
 
2.2
 

$1,052.7

 
4.99
%
 
2.89
%
 
2.3
Cross currency interest rate swaps
(not designated)
 

$29.6

 
4.17
%
 
3.61
%
 
4.6
 

$80.2

 
4.88
%
 
3.43
%
 
3.9

The table below summarizes our outstanding currency price risk management instruments:
 
 
30 June 2019
 
30 September 2018
 
 
US$
Notional
 
Years
Average
Maturity
 
US$
Notional
 
Years
Average
Maturity
Forward Exchange Contracts:
 
 
 
 
 
 
 
 
Cash flow hedges
 

$2,656.2

 
0.4
 

$2,489.1

 
0.4
Net investment hedges
 
553.0

 
1.0
 
457.5

 
1.7
Not designated
 
921.7

 
0.9
 
1,736.1

 
0.8
Total Forward Exchange Contracts
 

$4,130.9

 
0.6
 

$4,682.7

 
0.7
Fair Value of Derivative Instruments
The table below summarizes the fair value and balance sheet location of our outstanding derivatives:
 
Balance Sheet
Location
30 June 2019
30 September 2018
Balance Sheet
Location
30 June 2019
30 September 2018
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
Forward exchange contracts
Other receivables

$28.3


$24.9

Accrued liabilities

$32.3


$37.0

Interest rate management contracts
Other receivables
14.0

24.3

Accrued liabilities
.6

2.3

Forward exchange contracts
Other noncurrent
assets
27.9

19.8

Other noncurrent
liabilities
.8

4.6

Interest rate management contracts
Other noncurrent
assets
36.1

48.7

Other noncurrent
liabilities
7.3

11.6

Total Derivatives Designated as Hedging Instruments
 

$106.3


$117.7

 

$41.0


$55.5

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
Forward exchange contracts
Other receivables

$7.9


$7.9

Accrued liabilities

$13.4


$14.9

Interest rate management contracts
Other receivables
—

4.0

Accrued liabilities
—

—

Forward exchange contracts
Other noncurrent
assets
22.8

16.2

Other noncurrent
liabilities
26.1

23.7

Interest rate management contracts
Other noncurrent
assets
.7

.3

Other noncurrent
liabilities
—

—

Total Derivatives Not Designated as Hedging Instruments
 

$31.4


$28.4

 

$39.5


$38.6

Total Derivatives
 

$137.7


$146.1

 

$80.5


$94.1
Schedule of Gains and Losses Related to Derivative Instruments
The table below summarizes the gain or loss related to our cash flow hedges, fair value hedges, net investment hedges, and derivatives not designated as hedging instruments:
 
Three Months Ended 30 June
 
Forward
Exchange Contracts
Foreign Currency
Debt
Other (A)
Total
 
2019
2018
2019
2018
2019
2018
2019
2018
Cash Flow Hedges, net of tax:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in OCI (effective portion)

$1.7


($34.4
)

$—


$—


$5.8


$61.5


$7.5


$27.1

Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)
—

1.9

—

—

—

—

—

1.9

Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)
(6.9
)
33.7

—

—

(9.7
)
(55.6
)
(16.6
)
(21.9
)
Net (gain) loss reclassified from OCI to interest expense (effective portion)
3.1

.8

—

—

.7

2.0

3.8

2.8

Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)
(.2
)
—

—

—

(.1
)
(.5
)
(.3
)
(.5
)
Fair Value Hedges:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in interest expense(B) 

$—


$—


$—


$—


$2.0


($2.1
)

$2.0


($2.1
)
Net Investment Hedges, net of tax:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in OCI

($2.1
)

$16.2


($11.3
)

$44.2


$3.4


$36.9


($10.0
)

$97.3

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in other income (expense), net(C)

($.8
)

($.3
)

$—


$—


$.7


$2.2


($.1
)

$1.9

 
 
 
 
 
 
 
 
 
 
Nine Months Ended 30 June
 
Forward
Exchange Contracts
Foreign Currency
Debt
Other (A)
Total
 
2019
2018
2019
2018
2019
2018
2019
2018
Cash Flow Hedges, net of tax:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in OCI (effective portion)

($14.1
)

$5.0


$—


$—


($24.1
)

$30.4


($38.2
)

$35.4

Net (gain) loss reclassified from OCI to sales/cost of sales (effective portion)
.4

6.9

—

—

—

—

.4

6.9

Net (gain) loss reclassified from OCI to other income (expense), net (effective portion)
2.6

(13.2
)
—

—

6.5

(23.4
)
9.1

(36.6
)
Net (gain) loss reclassified from OCI to interest expense (effective portion)
9.4

3.0

—

—

2.0

3.3

11.4

6.3

Net (gain) loss reclassified from OCI to other income (expense), net (ineffective portion)
(.1
)
(.5
)
—

—

(.1
)
(.5
)
(.2
)
(1.0
)
Fair Value Hedges:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in interest expense(B) 

$—


$—


$—


$—


$4.6


($8.9
)

$4.6


($8.9
)
Net Investment Hedges, net of tax:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in OCI

$15.9


($6.5
)

$15.5


$4.7


$1.3


$2.4


$32.7


$.6

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
Net gain (loss) recognized in other income (expense), net(C)

($3.1
)

($.2
)

$—


$—


$.2


($1.3
)

($2.9
)

($1.5
)
(A) 
Includes the impact on other comprehensive income (OCI) and earnings primarily related to interest rate and cross currency interest rate swaps.
(B) 
The impact of fair value hedges was largely offset by recognized gains and losses resulting from the impact of changes in related interest rates on outstanding debt.
(C) 
The impact of the non-designated hedges was largely offset by recognized gains and losses resulting from the impact of changes in exchange rates on assets and liabilities denominated in non-functional currencies.