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Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2021
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)202120202019
Cost of products sold$43 $40 $37 
Selling and administrative expense158 150 145 
Research and development expense36 34 32 
Acquisitions and other restructurings1 20 50 
$238 $245 $265 
Tax benefit associated with share-based compensation costs recognized$55 $57 $62 
Assumptions for Estimation of Fair Values of Stock Appreciation Rights Granted During Reporting Periods The fair value of awards was estimated on the date of grant using a lattice-based binomial option valuation model and these valuations were largely based upon the following weighted-average assumptions:
202120202019
Risk-free interest rate0.68%1.69%3.05%
Expected volatility23.0%19.0%18.0%
Expected dividend yield1.46%1.24%1.27%
Expected life7.4 years7.4 years7.2 years
Fair value derived$44.38$48.82$51.86
Summary of SARs Outstanding
A summary of SARs outstanding as of September 30, 2021 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 16,337 $167.17 
Granted1,097 227.83 
Exercised(842)128.13 
Forfeited, canceled or expired(297)237.47 
Balance at September 306,295 $179.64 5.51$424 
Vested and expected to vest at September 306,113 $177.94 5.42$421 
Exercisable at September 304,471 $156.28 4.31$403 
Schedule Of Share Based Compensation, Summary of Stock Appreciation Rights Exercised
A summary of SARs exercised during 2021, 2020 and 2019 is as follows:
(Millions of dollars)202120202019
Total intrinsic value of SARs exercised$102 $212 $260 
Total fair value of SARs vested$39 $46 $66 
Summary of Performance-Based Restricted Stock Units Outstanding
A summary of restricted stock units outstanding as of September 30, 2021 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 1962 $244.42 1,697 $226.01 
Granted406 216.39 881 223.60 
Distributed(39)252.57 (601)231.44 
Forfeited or canceled(373)245.86 (421)231.29 
Balance at September 30957 (a)$231.63 1,556 $221.11 
Expected to vest at September 30339 (b)$227.92 1,478 $220.60 
(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 63 thousand and 555 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 2021, 2020 and 2019 are as follows:
Performance-BasedTime-Vested
202120202019202120202019
Weighted average grant date fair value of units granted$216.39 $245.06 $237.55 $223.60 $249.94 $235.50 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The total fair value of stock units vested during 2021, 2020 and 2019 was as follows:
Performance-BasedTime-Vested
(Millions of dollars)202120202019202120202019
Total fair value of units vested$16 $27 $33 $203 $211 $254