XML 1117 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2013
Operating Activities      
Net Income $ 1,317.6 $ 993.1 $ 1,032.5
Less: Net income attributable to noncontrolling interests 39.7 1.4 38.3
Net Income Attributable to Air Products 1,277.9 991.7 994.2
(Income) loss from discontinued operations 0.0 (4.6) 10.0
Income from continuing operations attributable to Air Products 1,277.9 987.1 1,004.2
Adjustments to reconcile income to cash provided by operating activities:      
Depreciation and amortization 936.4 956.9 907.0
Deferred income taxes 2.9 125.5 12.8
Loss on early retirement of debt 16.6 [1] 0.0 0.0
Gain on previously held equity interest (17.9) [2] 0.0 0.0
Undistributed earnings of unconsolidated affiliates (102.6) (76.0) (59.2)
Loss (Gain) on sale of assets and investments (30.1) 4.3 (20.0)
Share-based compensation 45.7 44.0 43.5
Noncurrent capital lease receivables (9.5) 20.0 (151.4)
Goodwill and intangible asset impairment charge 0.0 310.1 [3] 0.0
Write-down of long-lived assets associated with restructuring 47.4 0.0 100.4
Other adjustments 52.2 61.0 (76.4)
Working capital changes that provided (used) cash, excluding effects of acquisitions and divestitures:      
Trade receivables (29.7) (2.7) 4.8
Inventories 8.3 (23.5) 75.0
Contracts in progress, less progress billings 37.4 (5.4) (16.2)
Other receivables 49.3 (33.0) (77.0)
Payables and accrued liabilities 157.8 (234.8) (130.3)
Other working capital (4.3) 52.9 (64.1)
Cash Provided by Operating Activities 2,437.8 2,186.4 1,553.1
Investing Activities      
Additions to plant and equipment (1,614.8) (1,684.2) (1,524.2)
Acquisitions, less cash acquired (34.5) 0.0 (224.9)
Investment in and advances to unconsolidated affiliates (4.3)    
Proceeds from collection of advance to affiliate   2.0 1.3
Proceeds from sale of assets and investments 55.3 45.6 52.8
Other investing activities (1.4) (1.4) (2.0)
Cash Used for Investing Activities (1,599.7) (1,638.0) (1,697.0)
Financing Activities      
Long-term debt proceeds 338.8 461.0 927.2
Payments on long-term debt (708.7) (608.6) (437.5)
Net increase (decrease) in commercial paper and short-term borrowings 284.0 148.7 437.7
Dividends paid to shareholders (677.5) (627.7) (565.6)
Purchase of treasury shares 0.0 0.0 (461.6)
Proceeds from stock option exercises 121.3 141.6 226.4
Excess tax benefit from share-based compensation 31.9 28.3 37.9
Payment for subsidiary shares from noncontrolling interests (278.4) (0.5) (14.0)
Other financing activities (56.8) (47.1) (35.1)
Cash Provided By (Used for) Financing Activities (945.4) (504.3) 115.4
Discontinued Operations      
Cash provided by operating activities 0.0 0.7 14.3
Cash provided by (used for) investing activities 0.0 9.8 (1.2)
Cash provided by (used for) financing activities 0.0 (157.1) 0.0
Cash Provided by (Used for) Discontinued Operations 0.0 (146.6) 13.1
Effect of Exchange Rate Changes on Cash (22.9) (11.3) 11.4
Increase (Decrease) in Cash and Cash Items (130.2) (113.8) (4.0)
Cash and Cash Items - Beginning of Year 336.6 450.4 454.4
Cash and Cash Items - End of Period 206.4 336.6 450.4
Less: Cash and Cash Items - Discontinued Operations 0.0 0.0 0.0
Cash and Cash Items - Continuing Operations $ 206.4 $ 336.6 $ 450.4
[1] For additional information, see Note 15, Debt.
[2] For additional information, see Note 6, Business Combinations.
[3] For additional information, see Note 10, Goodwill, and Note 11, Intangible Assets.