Pension and Postretirement Plans

6 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

Pension and Postretirement Plans

Pension and Postretirement Plans

The components of the Company’s net periodic benefit costs from continuing operations associated with its defined benefit pension and postretirement plans, which are primarily recorded in selling, general and administrative expenses in the consolidated statements of income, are shown in the tables below in accordance with ASC 715, "Compensation – Retirement Benefits" (in millions):

	U.S. Pension Plans
	Three Months Ended March 31,				Six Months Ended March 31,
	2021		2020		2021		2020
Interest cost	$	11	$	19	$	22	$	37
Expected return on plan assets	(42)		(46)		(84)		(90)
Net actuarial gain	(203)		—		(203)		—
Settlement gain	(4)		—		(4)		—
Net periodic benefit credit	$	(238)	$	(27)	$	(269)	$	(53)

	Non-U.S. Pension Plans
	Three Months Ended March 31,				Six Months Ended March 31,
	2021		2020		2021		2020
Service cost	$	6	$	7	$	13	$	13
Interest cost	8		9		16		18
Expected return on plan assets	(27)		(29)		(55)		(56)
Amortization of prior service cost	—		1		—		1
Net periodic benefit credit	$	(13)	$	(12)	$	(26)	$	(24)

	Postretirement Benefits
	Three Months Ended March 31,				Six Months Ended March 31,
	2021		2020		2021		2020
Service cost	$	1	$	—	$	1	$	—
Interest cost	—		1		1		2
Expected return on plan assets	(2)		(2)		(4)		(4)
Amortization of prior service credit	(1)		—		(2)		(1)
Net periodic benefit credit	$	(2)	$	(1)	$	(4)	$	(3)

During the three months ended March 31, 2021, the amount of cumulative fiscal 2021 lump sum payouts triggered a remeasurement event for certain U.S. pension plans resulting in the recognition of net actuarial gains of $203 million, primarily due to an increase in discount rates and favorable plan asset performance.