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Summarized Financial Information of Equity Affiliates
 12 Months Ended
Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Summarized Financial Information of Equity Affiliates SUMMARIZED FINANCIAL INFORMATION OF EQUITY AFFILIATES
The summarized financial information below is on a combined 100% basis and has been compiled based on financial statements of the companies accounted for by the equity method. The amounts presented include the accounts of the following equity affiliates:
Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%);
INFRA Group (40%);
Air Products South Africa (Proprietary) Limited (50%);
INOX Air Products Private Limited (50%);
Bangkok Cogeneration Company Limited (49%);
Jazan Gas Projects Company (26%);
Bangkok Industrial Gases Co., Ltd. (49%);
Kulim Industrial Gases Sdn. Bhd. (50%);
Chengdu Air & Gas Products Ltd. (50%);
Sapio Produzione Idrogeno Ossigeno S.r.l. (49%);
Helios S.p.A. (49%);
and principally, other industrial gas producers.
30 September  20212020
Current assets$2,244.6 $1,943.5 
Noncurrent assets4,630.7 4,529.2 
Current liabilities774.0 765.3 
Noncurrent liabilities 2,852.5 2,958.8 
Fiscal Year Ended 30 September202120202019
Net sales$3,338.1 $2,809.1 $2,885.6 
Gross profit1,492.9 1,212.5 1,193.4 
Operating income962.2 748.6 763.4 
Net income646.0 567.8 492.4 
Dividends received from equity affiliates were $157.3, $107.0, and $144.3 in fiscal years 2021, 2020, and 2019, respectively.
The investment in net assets of and advances to equity affiliates as of 30 September 2021 and 2020 included investment in foreign affiliates of $1,648.0 and $1,431.3, respectively.
As of 30 September 2021 and 2020, the amount of investment in companies accounted for by the equity method included equity method goodwill of $55.3 and $50.0, respectively.
India Finance Act 2020
Our consolidated income statements in fiscal year 2020 include a benefit of $33.8 reflected in equity affiliates' income for our share of accumulated dividend distribution taxes released with respect to INOX Air Products Private Limited, an equity affiliate investment in our Industrial Gases – Asia segment. This benefit, which related to tax legislation passed by the Indian government, was not recorded in segment results. Refer to Note 21, Income Taxes, for additional information. The benefit is included in fiscal year 2020 net income in the table above on a 100% basis.
Jazan Gas Project Company
On 19 April 2015, Jazan Gas Project Company, a joint venture between Air Products and ACWA Holding, entered into a 20-year oxygen and nitrogen supply agreement to supply Aramco’s oil refinery and power plant being built in Jazan, Saudi Arabia. We own 26% of the joint venture and guarantee repayment of our share of an equity bridge loan. ACWA also guarantees their share of the loan. We determined that the joint venture is a variable interest entity for which we are not the primary beneficiary. As of 30 September 2021, our consolidated balance sheets included $94.4 reflected within "Payables and accrued liabilities" for our obligation to make equity contributions based on our proportionate share of the advances received by the joint venture under the loan.
Subsequent Event
As part of the Jazan Integrated Gasification and Power Company transaction discussed in Note 24, Subsequent Events, Jazan Gas Project Company sold its air separation units to Aramco in October 2021 and repaid its outstanding debt, including the equity bridge loan.