Business Restructuring Charges

3 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Business Restructuring Charges

Business Restructuring Charges

The Company incurred restructuring costs during the three months ended December 31, 2023, primarily in connection with the Company's simplification and other cost-saving initiatives, which were recorded within Integration and restructuring expense. These simplification and other cost-saving initiatives are focused on reducing complexity, enhancing product quality, refining customer experience, and improving cost efficiency across all of the Company’s segments.

Restructuring liability activity for the three months ended December 31, 2023 was as follows:

(Millions of dollars)	Employee Termination		Other (a)		Total
Balance at September 30, 2023	$	79	$	1	$	80
Charged to expense	35		34		69
Cash payments	(36)		(29)		(65)
Non-cash settlements	—		(5)		(5)
Other adjustments	2		—		2
Balance at December 31, 2023	$	80	$	1	$	81

(a)    Expense primarily relates to other costs associated with the execution of the Company’s cost efficiency and restructuring programs, such as incremental project management costs and asset write-offs.