Debt (Tables)

12 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Summary of Short-Term Debt

Short-term debt, net of unamortized debt issuance costs, at September 30 consisted of:

(Millions of dollars)		2019		2018
Current portion of long-term debt
2.675% Notes due December 15, 2019	(a)	$	300	$	—
2.404% Notes due June 5, 2020		999		—
2.133% Notes due June 6, 2019		—		724
0.368% Notes due June 6, 2019	(a)	—		1,157
Term Loan Facility due September 5, 2019	(b)	—		710
Other		10		10
Total short-term debt		$	1,309	$	2,601

(a) All or a portion of the aggregate principal amount outstanding was redeemed or repaid during 2019, as further discussed below.

(b)

Term loan facility entered into during the fourth quarter of fiscal year 2018, as further discussed below.

Summary of Long-Term Debt

Long-Term Debt, net of unamortized debt issuance costs, at September 30 consisted of:

(Millions of dollars)		2019		2018
2.675% Notes due December 15, 2019		$	—	$	1,123
2.404% Notes due June 5, 2020		—		998
3.250% Notes due November 12, 2020		699		699
Floating Rate Notes due December 29, 2020	(a)	748		996
0.174% Notes due June 4, 2021	(b)	651		—
3.125% Notes due November 8, 2021		1,004		990
2.894% Notes due June 6, 2022		1,795		1,793
Floating Rate Notes due June 6, 2022		498		498
1.000% Notes due December 15, 2022		542		576
Revolving Credit Facility due December 29, 2022		480		—
3.300% Notes due March 1, 2023		295		296
1.401% Notes due May 24, 2023		325		346
0.632% Notes due June 4, 2023	(b)	867		—
3.875% Notes due May 15, 2024		181		182
3.363% Notes due June 6, 2024		1,740		1,738
3.734% Notes due December 15, 2024		1,369		1,368
3.020% Notes due May 24, 2025		306		324
1.208% Notes due June 4, 2026	(b)	649		—
6.700% Notes due December 1, 2026	(c)	174		177
1.900% Notes due December 15, 2026		541		575
3.700% Notes due June 6, 2027	(a)	1,714		2,383
7.000% Debentures due August 1, 2027		175		156
6.700% Debentures due August 1, 2028		175		154
6.000% Notes due May 15, 2039		246		246
5.000% Notes due November 12, 2040	(a)	124		296
4.875% Notes due May 15, 2044	(a)	248		331
4.685% Notes due December 15, 2044	(a)	1,045		1,159
4.669% Notes due June 6, 2047		1,485		1,484
Other long-term debt		5		8
Total Long-Term Debt		$	18,081	$	18,894

(a) A portion of the aggregate principal amount outstanding was redeemed or repurchased during 2019, as further discussed below.

(b) Includes notes issued during 2019, as further discussed below.

(c) Includes notes assumed in connection with the Company's acquisition of Bard, as further discussed below.

The aggregate principal amounts of Bard notes which were validly tendered for notes issued by the Company are provided below.

(Millions of dollars)
Interest Rate and Maturity	Aggregate Principal Amount		Principal Amount Accepted for Exchange
4.400% Notes due January 15, 2021	$	500	$	432
3.000% Notes due May 15, 2026	500		470
6.700% Notes due December 1, 2026	150		137
Total	$	1,150	$	1,039

Schedule of Extinguishment of Debt

Under this cash tender offer, the Company repurchased the following aggregate principal amounts of its long-term debt at an aggregate market price of $1.169 billion:

Interest Rate and Maturity	Aggregate Principal Amount (Millions of dollars)
3.700% Notes due June 6, 2027	$	675
5.000% Notes due November 12, 2040	175
4.875% Notes due May 15, 2044	75
4.685% Notes due December 15, 2044	175
Total notes purchased	$	1,100

Summary of Interest Costs and Payments

A summary of interest costs and payments for the years ended September 30 is as follows:

(Millions of dollars)	2019		2018		2017
Charged to operations	$	639	$	706	$	521
Capitalized	44		42		32
Total interest costs	$	683	$	748	$	553
Interest paid, net of amounts capitalized	$	658	$	674	$	435