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Fair Value Measurements (Tables)
 12 Months Ended
Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets and Liabilities Measured at Fair Value
The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of September 30, 2016 and 2015 (in millions):
 
 
Fair Value Measurements Using:
 
Total as of
September 30, 2016
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Other current assets
 
 
 
 
 
 
 
Foreign currency exchange derivatives
$
90

 
$
—

 
$
90

 
$
—

Commodity derivatives
4

 
—

 
4

 
—

Exchange traded funds (fixed income)1
15

 
15

 
—

 
—

Other noncurrent assets
 
 
 
 
 
 
 
Interest rate swaps
1

 
—

 
1

 
—

Investments in marketable common stock
3

 
3

 
—

 
—

Deferred compensation plan assets
81

 
81

 
—

 
—

Exchange traded funds (fixed income)1
163

 
163

 
—

 
—

Exchange traded funds (equity)1
86

 
86

 
—

 
—

Total assets
$
443

 
$
348

 
$
95

 
$
—

Other current liabilities
 
 
 
 
 
 
 
Foreign currency exchange derivatives
$
71

 
$
—

 
$
71

 
$
—

Current portion of long-term debt
 
 
 
 
 
 
 
Fixed rate debt swapped to floating
551

 
—

 
551

 
—

Long-term debt
 
 
 
 
 
 
 
Foreign currency denominated debt
2,057

 
2,057

 
—

 
—

Fixed rate debt swapped to floating
301

 
—

 
301

 
—

Total liabilities
$
2,980

 
$
2,057

 
$
923

 
$
—

 1Classified as restricted investments for payment of asbestos liabilities. See Note 23, "Commitments and Contingencies" of the notes to consolidated financial statements for further details.
 
Fair Value Measurements Using:
 
Total as of
September 30, 2015
 
Quoted Prices
in Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Other current assets
 
 
 
 
 
 
 
Foreign currency exchange derivatives
$
58

 
$
—

 
$
58

 
$
—

Interest rate swaps
1

 
—

 
1

 
—

Cross-currency interest rate swaps
5

 
—

 
5

 
—

Other noncurrent assets
 
 
 
 
 
 
 
Interest rate swaps
5

 
—

 
5

 
—

Investments in marketable common stock
4

 
4

 
—

 
—

Equity swap
164

 
164

 
—

 
—

Total assets
$
237

 
$
168

 
$
69

 
$
—

Other current liabilities
 
 
 
 
 
 
 
Foreign currency exchange derivatives
$
63

 
$
—

 
$
63

 
$
—

Commodity derivatives
7

 
—

 
7

 
—

Cross-currency interest rate swaps
1

 
—

 
1

 
—

Current portion of long-term debt
 
 
 
 
 
 
 
Fixed rate debt swapped to floating
801

 
—

 
801

 
—

Long-term debt
 
 
 
 
 
 
 
Fixed rate debt swapped to floating
855

 
—

 
855

 
—

Total liabilities
$
1,727

 
$
—

 
$
1,727

 
$
—