Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Selected income tax data (in millions):

	2018		2017		2016
Components of income before income taxes:
United States	$	721.6	$	547.2	$	512.1
Non-United States	609.2		490.2		431.0
Total	$	1,330.8	$	1,037.4	$	943.1

Schedule of Components of Income Tax Expense (Benefit)

Components of the income tax provision:
Current:
United States	$	475.3	$	67.3		$	175.9
Non-United States	131.4		109.9			91.7
State and local	18.1		0.7			16.3
Total current	624.8		177.9			283.9
Deferred:
United States	118.6		44.6			(53.7		)
Non-United States	48.0		(14.1		)	(8.8		)
State and local	3.9		3.3			(8.0		)
Total deferred	170.5		33.8			(70.5		)
Income tax provision	$	795.3	$	211.7		$	213.4
Total income taxes paid	$	222.9	$	211.9		$	299.8

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the U.S. federal statutory rate and our effective tax rate was:

	2018		2017		2016
Statutory tax rate	24.5	%	35.0	%	35.0	%
State and local income taxes	1.0		0.7		0.6
Non-United States taxes	(4.4	)	(9.3	)	(8.6	)
Tax effect of foreign dividends	4.2		0.5		0.1
Impact of the Tax Act	36.6		—		—
Foreign currency transaction loss	—		(1.9	)	(0.8	)
Share-based compensation	(1.3	)	(2.8	)	—
Research and development tax credit	(1.3	)	(0.6	)	(2.0	)
Other	0.5		(1.2	)	(1.7	)
Effective income tax rate	59.8	%	20.4	%	22.6	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to our net deferred income tax assets (liabilities) were (in millions):

	2018			2017
Deferred income tax assets:
Compensation and benefits	$	6.5		$	18.8
Inventory	11.5			20.2
Returns, rebates and incentives	34.0			45.9
Retirement benefits	141.5			305.5
Environmental remediation and other site-related costs	20.7			33.4
Share-based compensation	19.6			32.4
Other accruals and reserves	49.7			71.3
Net operating loss carryforwards	19.6			20.4
Tax credit carryforwards	17.9			15.3
Capital loss carryforwards	10.0			10.3
Other	4.6			11.1
Subtotal	335.6			584.6
Valuation allowance	(27.0		)	(18.6		)
Net deferred income tax assets	308.6			566.0
Deferred income tax liabilities:
Property	(54.7		)	(74.0		)
Intangible assets	(25.3		)	(45.9		)
Investments	(21.7		)	—
Unremitted earnings of foreign subsidiaries	(22.7		)	—
Other	(4.6		)	(2.5		)
Deferred income tax liabilities	(129.0		)	(122.4		)
Total net deferred income tax assets	$	179.6		$	443.6

Schedule of Tax Attributes and Valuation Allowances

Tax attributes and related valuation allowances at September 30, 2018 were (in millions):

Tax attributes and related valuation allowances	Tax Benefit Amount		Valuation Allowance		Carryforward Period Ends
Non-United States net operating loss carryforward	$	7.0	$	7.0	2019	-	2024
Non-United States net operating loss carryforward	3.3		3.3		Indefinite
Non-United States capital loss carryforward	10.0		10.0		Indefinite
United States net operating loss carryforward	0.6		—		2019	-	2033
United States tax credit carryforward	0.8		—		2019	-	2037
State and local net operating loss carryforward	8.7		1.4		2019	-	2037
State tax credit carryforward	17.1		0.7		2019	-	2033
Subtotal	47.5		22.4
Other deferred tax assets	4.6		4.6		Indefinite
Total	$	52.1	$	27.0

Schedule of Gross Unrecognized Tax Benefits

A reconciliation of our gross unrecognized tax benefits, excluding interest and penalties, is as follows (in millions):

	2018			2017			2016
Gross unrecognized tax benefits balance at beginning of year	$	31.1		$	32.4		$	43.9
Additions based on tax positions related to the current year	—			1.9			2.3
Additions based on tax positions related to prior years	3.0			10.8			14.9
Reductions based on tax positions related to prior years	(1.1		)	(0.1		)	—
Reductions related to settlements with taxing authorities	(11.3		)	(7.7		)	(27.1		)
Reductions related to lapses of statute of limitations	(1.6		)	(6.3		)	(1.6		)
Effect of foreign currency translation	—			0.1			—
Gross unrecognized tax benefits balance at end of year	$	20.1		$	31.1		$	32.4