Supplemental Financial Information (Tables)

12 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Nonoperating Income (Expense)

Other Expense, Net

(Millions of dollars)	2024		2023		2022
Other investment gains (losses), net (a)	$	5	$	(3)	$	(35)
Deferred compensation	57		32		(46)
Net pension and postretirement benefit cost (b)	(65)		(98)		(17)
Net foreign exchange losses (c)	(47)		(36)		(28)
Impacts of debt extinguishment (d)	—		—		(24)
Embecta service agreements income, net (e)	26		59		33
Other	(4)		—		1
Other expense, net	$	(28)	$	(46)	$	(117)

(a)The amounts include gains (losses) recognized relating to certain equity investments.

(b)Represents all components of the Company’s net periodic pension and postretirement benefit costs, aside from service cost, including pension settlement expenses of $57 million and $73 million in fiscal years 2023 and 2022, respectively.

(c)Represents net gains and losses from transactional foreign exchange exposures, offset by net gains and losses on undesignated foreign exchange derivatives.

(d)Represents losses recognized upon the extinguishment of certain senior notes.

(e)Consists of net income from transition and logistics service agreements with Embecta following the spin-off of the former diabetes care business in fiscal year 2022, as further discussed in Note 2.

Trade Receivables, Allowances for Doubtful Accounts and Cash Discounts

The amounts recognized in 2024, 2023 and 2022 relating to allowances for doubtful accounts and cash discounts, which are netted against trade receivables, are provided in the following table:

(Millions of dollars)	Allowance for Doubtful Accounts			Allowance for Cash Discounts		Total
Balance at September 30, 2021	$	73		$	18	$	91
Additions charged to costs and expenses	4			73		77
Deductions and other	(12)		(a)	(75)		(87)
Balance at September 30, 2022	$	65		$	16	$	81
Additions charged to costs and expenses	9			100		109
Deductions and other	(10)		(a)	(100)		(110)
Balance at September 30, 2023	$	65		$	16	$	81
Additions charged to costs and expenses	30			91		121
Deductions and other	(30)		(a)	(93)		(124)
Balance at September 30, 2024	$	64		$	15	$	79

(a)Accounts written off.

Inventories

Inventories at September 30 consisted of:

(Millions of dollars)	2024		2023
Materials	$	803	$	714
Work in process	443		381
Finished products	2,597		2,178
	$	3,843	$	3,273

The Company acquired $666 million of inventories in the Advanced Patient Monditoring transaction, which is further discussed in Note 11.

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net at September 30 consisted of:

(Millions of dollars)	2024		2023
Land	$	129	$	131
Buildings	3,733		3,537
Machinery, equipment and fixtures	10,197		9,609
Leasehold improvements	320		301
	14,378		13,578
Less accumulated depreciation and amortization	7,557		7,021
	$	6,821	$	6,557