Retirement Benefits (Tables)

12 Months Ended

Sep. 30, 2013

Compensation and Retirement Disclosure [Abstract]

The components of net periodic benefit cost are (in millions):



										Other Postretirement
	Pension Benefits									Benefits
	2013			2012			2011			2013			2012			2011
Service cost	$	92.1		$	71.8		$	70.1		$	2.3		$	2.2		$	3.5
Interest cost	160.2			167.6			163.9			6.3			7.2			10.2
Expected return on plan assets	(226.3		)	(228.1		)	(204.5		)	—			—			—
Amortization:
Prior service credit	(2.5		)	(2.3		)	(2.2		)	(10.7		)	(10.6		)	(10.6		)
Net transition obligation	—			—			0.4			—			—			—
Net actuarial loss	144.6			94.7			63.7			4.4			2.4			6.4
Settlements	—			1.0			—			—			—			—
Net periodic benefit cost	$	168.1		$	104.7		$	91.4		$	2.3		$	1.2		$	9.5

Summary of benefit obligation, plan assets, funded status, and net liability information

Benefit obligation, plan assets, funded status, and net liability information is summarized as follows (in millions):



	Pension Benefits						Other Postretirement Benefits
	2013			2012			2013			2012
Benefit obligation at beginning of year	$	4,150.2		$	3,482.6		$	172.5		$	157.7
Service cost	92.1			71.8			2.3			2.2
Interest cost	160.2			167.6			6.3			7.2
Actuarial (gains) losses	(401.0		)	597.0			(14.9		)	24.0
Plan amendments	—			—			—			(3.1		)
Plan participant contributions	5.5			5.4			9.4			10.4
Benefits paid	(198.0		)	(176.6		)	(24.7		)	(26.6		)
Currency translation and other	(4.2		)	2.4			(0.7		)	0.7
Benefit obligation at end of year	3,804.8			4,150.2			150.2			172.5
Plan assets at beginning of year	3,213.3			2,572.9			—			—
Actual return on plan assets	309.0			470.6			—			—
Company contributions	41.3			341.1			15.3			16.2
Plan participant contributions	5.5			5.4			9.4			10.4
Benefits paid	(198.0		)	(176.6		)	(24.7		)	(26.6		)
Currency translation and other	(4.1		)	(0.1		)	—			—
Plan assets at end of year	3,367.0			3,213.3			—			—
Funded status of plans	$	(437.8	)	$	(936.9	)	$	(150.2	)	$	(172.5	)

Net amount on balance sheet



Net amount on balance sheet consists of:
Other assets	$	10.3		$	0.8		$	—		$	—
Compensation and benefits	(10.8		)	(10.2		)	(14.7		)	(15.8		)
Retirement benefits	(437.3		)	(927.5		)	(135.5		)	(156.7		)
Net amount on balance sheet	$	(437.8	)	$	(936.9	)	$	(150.2	)	$	(172.5	)

Amounts included in accumulated other comprehensive loss, net of tax

Amounts included in accumulated other comprehensive loss, net of tax, at September 30, 2013 and 2012 which have not yet been recognized in net periodic benefit cost are as follows (in millions):



	Pension						Other Postretirement Benefits
	2013			2012			2013			2012
Prior service cost (credit)	$	1.4		$	(0.3	)	$	(15.1	)	$	(21.8	)
Net actuarial loss	812.2			1,210.7			25.4			37.5
Net transition benefit	(0.1		)	(0.1		)	—			—
Total	$	813.5		$	1,210.3		$	10.3		$	15.7

Net periodic benefit cost assumptions and Net benefit obligation assumptions

Net Periodic Benefit Cost Assumptions

Significant assumptions used in determining net periodic benefit cost for the period ended September 30 are (in weighted averages):



	Pension Benefits September 30,						Other Postretirement Benefits September 30,
	2013		2012		2011		2013		2012		2011
U.S. Plans
Discount rate	4.15	%	5.20	%	5.60	%	3.85	%	4.90	%	5.10	%
Expected return on plan assets	8.00	%	8.00	%	8.00	%	—		—		—
Compensation increase rate	4.00	%	4.00	%	4.00	%	—		—		—
Non-U.S. Plans
Discount rate	3.37	%	4.15	%	4.14	%	3.80	%	4.10	%	4.75	%
Expected return on plan assets	5.42	%	5.93	%	6.07	%	—		—		—
Compensation increase rate	3.03	%	3.03	%	3.09	%	—		—		—

Net Benefit Obligation Assumptions

Significant assumptions used in determining the benefit obligations are (in weighted averages):



	Pension Benefits September 30,				Other Postretirement Benefits September 30,
	2013		2012		2013		2012
U.S. Plans
Discount rate	5.05	%	4.15	%	4.60	%	3.85	%
Compensation increase rate	3.75	%	4.00	%	—		—
Healthcare cost trend rate⁽¹⁾	—		—		7.50	%	8.00	%
Non-U.S. Plans
Discount rate	3.69	%	3.37	%	4.20	%	3.80	%
Compensation increase rate	3.11	%	3.03	%	—		—
Healthcare cost trend rate⁽²⁾	—		—		6.27	%	6.68	%

____________________

(1)

The healthcare cost trend rate reflects the estimated increase in gross medical claims costs. As a result of the plan amendment adopted effective October 1, 2002, our effective per person retiree medical cost increase is zero percent beginning in 2005 for the majority of our postretirement benefit plans. For our other plans, we assume the gross healthcare cost trend rate will decrease to 5.50% in 2017.


(2)	Decreasing to 4.50% in 2017.

Weighted-average asset allocations by asset category and investments measured at fair value

The following table presents our pension plans’ investments measured at fair value as of September 30, 2013:



	Level 1		Level 2		Level 3		Total
U.S. Plans
Cash and cash equivalents	$	3.7	$	—	$	—	$	3.7
Equity securities:
Common stock	711.8		—		—		711.8
Mutual funds	196.3		—		—		196.3
Common collective trusts	—		561.5		—		561.5
Fixed income securities:
Corporate debt	—		535.7		—		535.7
Government securities	240.8		116.2		—		357.0
Common collective trusts	—		128.6		—		128.6
Other types of investments:
Private equity	—		—		80.4		80.4
Alternative equity	—		—		42.1		42.1
Insurance contracts	—		—		0.8		0.8
Non-U.S. Plans
Cash and cash equivalents	19.0		—		—		19.0
Equity securities:
Common stock	41.6		—		—		41.6
Common collective trusts	—		286.4		—		286.4
Fixed income securities:
Corporate debt	—		39.9		—		39.9
Government securities	3.9		13.7		—		17.6
Common collective trusts	—		239.0		—		239.0
Other types of investments:
Real estate funds	—		44.6		8.3		52.9
Insurance contracts	—		—		45.5		45.5
Other	—		3.0		4.2		7.2
Total plan investments	$	1,217.1	$	1,968.6	$	181.3	$	3,367.0

The following table presents our pension plans’ investments measured at fair value as of September 30, 2012:



	Level 1		Level 2		Level 3		Total
U.S. Plans
Cash and cash equivalents	$	0.4	$	—	$	—	$	0.4
Equity securities:
Common stock	653.7		—		—		653.7
Mutual funds	160.0		—		—		160.0
Common collective trusts	—		530.5		—		530.5
Fixed income securities:
Corporate debt	—		525.9		—		525.9
Government securities	287.9		80.5		—		368.4
Common collective trusts	—		145.5		—		145.5
Other types of investments:
Private equity	—		—		83.2		83.2
Alternative equity	—		—		53.4		53.4
Insurance contracts	—		—		0.8		0.8
Non-U.S. Plans
Cash and cash equivalents	26.8		—		—		26.8
Equity securities:
Common stock	39.3		—		—		39.3
Common collective trusts	—		296.9		—		296.9
Fixed income securities:
Corporate debt	—		68.7		—		68.7
Government securities	0.8		—		—		0.8
Common collective trusts	—		167.1		—		167.1
Other types of investments:
Real estate funds	—		46.2		—		46.2
Insurance contracts	—		—		38.5		38.5
Other	—		2.8		4.4		7.2
Total plan investments	$	1,168.9	$	1,864.1	$	180.3	$	3,213.3

Our global weighted-average targeted and actual asset allocations at September 30, by asset category, are:



	Allocation			Target	September 30,
Asset Category	Range			Allocations	2013	2012
Equity Securities	30%	–	65%	52%	53%	52%
Debt Securities	35%	–	50%	40%	40%	41%
Other	0%	–	35%	8%	7%	7%

Summary of changes in fair market value of our pension plans’ Level 3 assets

The table below sets forth a summary of changes in fair market value of our pension plans’ Level 3 assets for the year ended September 30, 2013.



	Balance October 1,		Realized Gains			Unrealized Gains			Purchases, Sales, Issuances, and Settlements,			Balance September 30,
	2012		(Losses)			(Losses)			Net			2013
U.S. Plans
Private equity	$	83.2	$	6.6		$	(10.8	)	$	1.4		$	80.4
Alternative equity	53.4		(1.1		)	4.1			(14.3		)	42.1
Insurance contracts	0.8		—			—			—			0.8
Non-U.S. Plans
Real estate	—		—			0.4			7.9			8.3
Insurance contracts	38.5		—			1.0			6.0			45.5
Other	4.4		—			0.2			(0.4		)	4.2
	$	180.3	$	5.5		$	(5.1	)	$	0.6		$	181.3

The table below sets forth a summary of changes in fair market value of our pension plans’ Level 3 assets for the year ended September 30, 2012.



	Balance October 1,		Realized Gains		Unrealized Gains			Purchases, Sales, Issuances, and Settlements,			Balance September 30,
	2011		(Losses)		(Losses)			Net			2012
U.S. Plans
Private equity	$	85.0	$	18.0	$	(9.3	)	$	(10.5	)	$	83.2
Alternative equity	49.0		4.4		(1.4		)	1.4			53.4
Insurance contracts	0.9		—		—			(0.1		)	0.8
Non-U.S. Plans
Real estate	3.9		—		—			(3.9		)	—
Insurance contracts	26.9		—		7.9			3.7			38.5
Other	4.1		—		0.1			0.2			4.4
	$	169.8	$	22.4	$	(2.7	)	$	(9.2	)	$	180.3

Estimated future payments

The following benefit payments, which include employees’ expected future service, as applicable, are expected to be paid (in millions):



	Pension Benefits		Other Postretirement Benefits
2014	$	220.1	$	15.1
2015	213.7		14.6
2016	216.2		13.8
2017	223.2		12.9
2018	231.7		12.2
2019 – 2023	1,291.9		53.1

One percentage point change in assumed health care cost trend rates

A one-percentage point change in assumed healthcare cost trend rates would have the following effect (in millions):



	One-Percentage Point Increase				One-Percentage Point Decrease
	2013		2012		2013			2012
Increase (decrease) to total of service and interest cost components	$	0.2	$	0.2	$	(0.2	)	$	(0.2	)
Increase (decrease) to postretirement benefit obligation	2.1		2.4		(1.8		)	(2.1		)

Other required retirement benefit disclosures

Information regarding our pension plans with accumulated benefit obligations in excess of the fair value of plan assets (underfunded plans) at September 30, 2013 and 2012 are as follows (in millions):



	2013		2012
Projected benefit obligation	$	760.1	$	3,850.4
Accumulated benefit obligation	674.6		3,573.5
Fair value of plan assets	436.1		2,919.0