Spin-Off of Embecta Corp. (Tables)

12 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities of Discontinued Operations

Details of Income from Discontinued Operations, Net of Tax are as follows:

Millions of dollars	2022		2021		2020
Revenues	$	538	$	1,117	$	1,043
Cost of products sold	143		320		264
Selling and administrative expense	78		148		141
Research and development expense	32		59		57
Acquisition-related integration and restructuring expense	—		6		10
Other operating expense, net	95		35		—
Total Operating Costs and Expenses	348		569		472
Operating Income	190		549		571
Interest expense	(4)		—		—
Other income, net	—		2		—
Income from Discontinued Operations Before Income Taxes	186		550		571
Income tax provision	42		62		50
Income from Discontinued Operations, Net of Tax	$	144	$	488	$	522

The following amounts associated with the Diabetes Care business are classified as assets and liabilities of discontinued operations in the Company’s consolidated balance sheet at September 30, 2021:

Millions of dollars	2021
Assets
Trade receivables, net	$	147
Inventories	123
Prepaid expenses and other	23
Current Assets of Discontinued Operations	293
Property, Plant and Equipment, Net	390
Goodwill and Other Intangibles, Net	27
Other Assets	6
Noncurrent Assets of Discontinued Operations	$	423
Liabilities
Accounts payable	$	54
Accrued expenses	75
Salaries, wages and related items	28
Current Liabilities of Discontinued Operations	157
Deferred Income Taxes and Other Liabilities	16
Noncurrent Liabilities of Discontinued Operations	$	17