Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

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 March 31, 2021 and September 30, 2020 (in millions):

	Fair Value Measurements Using:
	Total as of March 31, 2021		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	$	77	$	—	$	77	$	—
Commodity derivatives	3		—		3		—
Other noncurrent assets
Deferred compensation plan assets	72		72		—		—
Exchange traded funds (fixed income)1	147		147		—		—
Exchange traded funds (equity)1	157		157		—		—
Equity swap	82		—		82		—
Total assets	$	538	$	376	$	162	$	—
Other current liabilities
Foreign currency exchange derivatives	$	10	$	—	$	10	$	—
Total liabilities	$	10	$	—	$	10	$	—

	Fair Value Measurements Using:
	Total as of September 30, 2020		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	$	27	$	—	$	27	$	—
Exchange traded funds (fixed income)1	19		19		—		—
Commodity derivatives	2		—		2		—
Other noncurrent assets
Deferred compensation plan assets	63		63		—		—
Exchange traded funds (fixed income)1	143		143		—		—
Exchange traded funds (equity)1	129		129		—		—
Equity swap	58		—		58		—
Total assets	$	441	$	354	$	87	$	—
Other current liabilities
Foreign currency exchange derivatives	$	10	$	—	$	10	$	—
Total liabilities	$	10	$	—	$	10	$	—

1 Classified as restricted investments for payment of asbestos liabilities. See Note 22, "Commitments and Contingencies," of the notes to consolidated financial statements for further details.

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the portion of unrealized gains (losses) recognized in the consolidated statements of income for the three and six months ended March 31, 2021 and 2020 that relate to equity securities still held at March 31, 2021 and 2020 (in millions):

	Three Months Ended March 31,				Six Months Ended March 31,
	2021		2020		2021		2020
Deferred compensation plan assets	$	2	$	(10)	$	7	$	(7)
Investments in exchange traded funds	2		(32)		23		(22)