Pension and Postretirement Plans

3 Months Ended

Dec. 31, 2022

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 December 31,
	2022		2021
Interest cost	$	21	$	10
Expected return on plan assets	(34)		(41)
Net actuarial loss (gain)	8		(42)
Settlement gain	—		(1)
Net periodic benefit credit	$	(5)	$	(74)

	Non-U.S. Pension Plans
	Three Months Ended December 31,
	2022		2021
Service cost	$	3	$	6
Interest cost	16		10
Expected return on plan assets	(18)		(21)
Net periodic benefit cost (credit)	$	1	$	(5)

	Postretirement Benefits
	Three Months Ended December 31,
	2022		2021
Interest cost	$	1	$	—
Expected return on plan assets	(2)		(2)
Amortization of prior service credit	(1)		(1)
Net periodic benefit credit	$	(2)	$	(3)

During the three months ended December 31, 2022, the amount of cumulative fiscal 2023 lump sum payouts triggered a remeasurement event for certain U.S. pension plans resulting in the recognition of net actuarial losses of $8 million, primarily due to decreases in discount rates, partially offset by favorable plan asset performance.

During the three months ended December 31, 2021, the amount of cumulative fiscal 2022 lump sum payouts triggered a remeasurement event for certain U.S. pension plans resulting in the recognition of net actuarial gains of $42 million, primarily due to favorable plan asset performance.