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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Mar. 31, 2019
Derivative Instruments [Line Items]  
Outstanding Commodity Hedge Contracts The Company had the following outstanding contracts to hedge forecasted commodity purchases for continuing and discontinued operations (in metric tons):
 
 
Volume Outstanding as of
Commodity
 
March 31, 2019
 
September 30, 2018
 
 
 
 
 
Copper
 
3,071

 
3,175

Polypropylene
 
12,392

 
15,868

Lead
 
4,500

 
49,066

Aluminum
 
2,637

 
3,381

Tin
 
1,594

 
3,076
Location and Fair Values of Derivative Instruments and Hedging Activities The following table presents the location and fair values of derivative instruments and hedging activities included in the Company’s consolidated statements of financial position (in millions):
 
Derivatives and Hedging Activities Designated
as Hedging Instruments under ASC 815
 
Derivatives and Hedging Activities Not
Designated as Hedging Instruments under ASC 815
 
March 31,
 
September 30,
 
March 31,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Other current assets
 
 
 
 
 
 
 
Foreign currency exchange derivatives
$
9

 
$
6

 
$
12

 
$
10

Commodity derivatives
1

 
1

 
—

 
—

Assets held for sale
 
 
 
 
 
 
 
Commodity derivatives
7

 
—

 
—

 
—

Other noncurrent assets
 
 
 
 
 
 
 
Equity swap
—

 
—

 
59

 
63

Total assets
$
17

 
$
7

 
$
71

 
$
73

 
 
 
 
 
 
 
 
Other current liabilities
 
 
 
 
 
 
 
Foreign currency exchange derivatives
$
7

 
$
10

 
$
5

 
$
2

Commodity derivatives
—

 
2

 
—

 
—

Liabilities held for sale
 
 
 
 
 
 
 
Commodity derivatives
8

 
12

 
—

 
—

Long-term debt
 
 
 
 
 
 
 
Foreign currency denominated debt
3,065

 
3,149

 
—

 
—

Total liabilities
$
3,080

 
$
3,173

 
$
5

 
$
2
Offsetting Assets and Liabilities The gross and net amounts of derivative assets and liabilities were as follows (in millions):
 
 
Fair Value of Assets
 
Fair Value of Liabilities
 
 
March 31,
 
September 30,
 
March 31,
 
September 30,
 
 
2019
 
2018
 
2019
 
2018
Gross amount recognized
 
$
88

 
$
80

 
$
3,085

 
$
3,175

Gross amount eligible for offsetting
 
(10
)
 
(12
)
 
(10
)
 
(12
)
Net amount
 
$
78

 
$
68

 
$
3,075

 
$
3,163
Location and Amount of Gains and Losses Gross of Tax on Derivative Instruments and Related Hedge Items The following table presents the pre-tax gains (losses) recorded in other comprehensive income (loss) related to cash flow hedges for the three and six months ended March 31, 2019 and 2018 (in millions):
Derivatives in ASC 815 Cash Flow
 Hedging Relationships
 
Three Months Ended March 31,
 
Six Months Ended March 31,
 
2019
 
2018
 
2019
 
2018
Foreign currency exchange derivatives
 
$
9

 
$
(5
)
 
$
9

 
$
1

Commodity derivatives
 
9

 
(1
)
 
3

 
2

Total
 
$
18

 
$
(6
)
 
$
12

 
$
3


The following table presents the location and amount of the pre-tax gains (losses) on cash flow hedges reclassified from AOCI into the Company’s consolidated statements of income for the three and six months ended March 31, 2019 and 2018 (in millions):
Derivatives in ASC 815 Cash Flow Hedging Relationships
 
Location of Gain (Loss) Reclassified from AOCI into Income
 
Three Months Ended
March 31,
 
Six Months Ended
March 31,
 
2019
 
2018
 
2019
 
2018
Foreign currency exchange derivatives
 
Cost of sales
 
$
2

 
$
(3
)
 
$
2

 
$
(1
)
Foreign currency exchange derivatives
 
Income from discontinued operations
 
(1
)
 
1

 
—

 
1

Commodity derivatives
 
Cost of sales
 
(1
)
 
1

 
(3
)
 
3

Commodity derivatives
 
Income from discontinued operations
 
(4
)
 
3

 
(9
)
 
6

Total
 
 
 
$
(4
)
 
$
2

 
$
(10
)
 
$
9


The following table presents the location and amount of pre-tax gains (losses) on derivatives not designated as hedging instruments recognized in the Company’s consolidated statements of income for the three and six months ended March 31, 2019 and 2018 (in millions):
 
 
 
 
Amount of Gain (Loss) Recognized in
Income on Derivative
Derivatives Not Designated as Hedging Instruments under ASC 815
 
Location of Gain (Loss)
Recognized in Income on Derivative
 
Three Months Ended
March 31,
 
Six Months Ended
March 31,
 
2019
 
2018
 
2019
 
2018
Foreign currency exchange derivatives
 
Cost of sales
 
$
(2
)
 
$
(3
)
 
$
(6
)
 
$
(1
)
Foreign currency exchange derivatives
 
Net financing charges
 
(3
)
 
—

 
(24
)
 
3

Foreign currency exchange derivatives
 
Income from discontinued operations
 
28

 
(4
)
 
54

 
(1
)
Equity swap
 
Selling, general and administrative
 
12

 
(5
)
 
3

 
(7
)
Total
 
 
 
$
35

 
$
(12
)
 
$
27

 
$
(6
)