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Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Compensation Cost Relating to Share-Based Payments The amounts and location of compensation cost relating to share-based payments included in the consolidated statements of income is as follows:
(Millions of dollars)202020192018
Cost of products sold$40 $37 $36 
Selling and administrative expense150 145 136 
Research and development expense34 32 29 
Acquisitions and other restructurings20 50 130 
$245 $265 $332 
Tax benefit associated with share-based compensation costs recognized$57 $62 $79 
Assumptions for Estimation of Fair Values of Stock Appreciation Rights Granted During Reporting Periods The fair value was estimated on the date of grant using a lattice-based binomial option valuation model that uses the following weighted-average assumptions:
202020192018
Risk-free interest rate1.69%3.05%2.32%
Expected volatility19.0%18.0%19.0%
Expected dividend yield1.24%1.27%1.33%
Expected life7.4 years7.2 years7.4 years
Fair value derived$48.82$51.86$46.10
Summary of SARs Outstanding
A summary of SARs outstanding as of September 30, 2020 and changes during the year then ended is as follows:
SARs (in
thousands)		Weighted
Average
Exercise Price		Weighted
Average
Remaining
Contractual Term
(Years)		Aggregate
Intrinsic
Value
(Millions
of dollars)
Balance at October 16,899 $144.84 
Granted874 255.22 
Exercised(1,295)101.81 
Forfeited, canceled or expired(140)220.82 
Balance at September 306,337 $167.17 5.66$441 
Vested and expected to vest at September 306,152 $165.02 5.58$440 
Exercisable at September 304,483 $137.60 4.59$429 
Schedule Of Share Based Compensation, Summary of Stock Appreciation Rights Exercised
A summary of SARs exercised 2020, 2019 and 2018 is as follows:
(Millions of dollars)202020192018
Total intrinsic value of SARs exercised$212 $260 $333 
Total fair value of SARs vested$46 $66 $107 
Summary of Performance-Based Restricted Stock Units Outstanding
A summary of restricted stock units outstanding as of September 30, 2020 and changes during the year then ended is as follows:
Performance-BasedTime-Vested
Stock Units (in
thousands)		Weighted
Average Grant
Date Fair Value		Stock Units (in
thousands)		Weighted
Average Grant
Date Fair Value
Balance at October 1955 $221.73 2,068 $210.48 
Granted371 245.06 736 249.94 
Distributed(77)174.92 (676)211.19 
Forfeited or canceled(286)188.32 (431)215.56 
Balance at September 30962 (a)$244.42 1,697 $226.01 
Expected to vest at September 30241 (b)$244.82 1,622 $225.22 
(a)Based on 200% of target payout for performance based restricted units and 100% of the performance based time-vested units.
(b)Net of expected forfeited units and units in excess of the expected performance payout of 66 thousand and 655 thousand shares, respectively.
Schedule Of Share Based Compensation, Restricted Stock Units, Grant Date Fair Value of Units Granted
The weighted average grant date fair value of restricted stock units granted during the years 2020, 2019 and 2018 are as follows:
Performance-BasedTime-Vested
202020192018202020192018
Weighted average grant date fair value of units granted$245.06 $237.55 $251.75 $249.94 $235.50 $216.06 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The total fair value of stock units vested during 2020, 2019 and 2018 was as follows:
Performance-BasedTime-Vested
(Millions of dollars)202020192018202020192018
Total fair value of units vested$27 $33 $31 $211 $254 $362