Shareholders' Equity (Tables)

12 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Changes in Certain Components of Shareholders' Equity

Changes in certain components of shareholders’ equity were as follows:

	Common Stock  Issued at Par Value		Capital in Excess of Par Value		Retained Earnings		Deferred Compensation		Treasury Stock
(Millions of dollars)									Shares (in thousands)	Amount
Balance at September 30, 2019	$	347	$	16,270	$	12,913	$	23	(76,260)	$	(6,190)
Net income	—		—		874		—		—	—
Cash dividends:
Common ($3.16 per share)	—		—		(888)		—		—	—
Preferred	—		—		(107)		—		—	—
Common stock issued for:
Preferred shares converted to common shares	12		(9)		—		—		—	—
Public equity offerings	6		2,909		—		—		—	—
Share-based compensation and other plans, net	—		(143)		—		—		1,597	52
Share-based compensation	—		244		—		—		—	—
Common stock held in trusts, net (a)	—		—		—		—		41	—
Balance at September 30, 2020	$	365	$	19,270	$	12,791	$	23	(74,623)	$	(6,138)
Net income	—		—		2,092		—		—	—
Cash dividends:
Common ($3.32 per share)	—		—		(958)		—		—	—
Preferred	—		—		(90)		—		—	—
Common stock issued for share-based compensation and other plans, net	—		(85)		—		—		1,068	15
Share-based compensation	—		237		—		—		—	—
Common stock held in trusts, net (a)	—		—		—		—		33	—
Repurchase of common stock	—		(150)		—		—		(6,643)	(1,600)
Effect of change in accounting principle (see Note 3)	—		—		(9)		—		—	—
Balance at September 30, 2021	$	365	$	19,272	$	13,826	$	23	(80,164)	$	(7,723)
Net income	—		—		1,779		—		—	—
Cash dividends:
Common ($3.48 per share)	—		—		(992)		—		—	—
Preferred	—		—		(90)		—		—	—
Common stock issued for share-based compensation and other plans, net	—		(108)		(1)		—		1,271	44
Share-based compensation	—		239		—		—		—	—
Common stock held in trusts, net (a)	—		—		—		—		25	—
Repurchase of common stock	—		150		—		—		(2,415)	(650)
Spin-off of Embecta (See Note 2)	—		—		634		—		—	—
Balance at September 30, 2022	$	365	$	19,553	$	15,157	$	23	(81,283)	$	(8,330)

(a)Common stock held in trusts consists of the Company’s shares held in rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan.

Accumulated Other Comprehensive (Loss) Income

The components and changes of Accumulated other comprehensive income (loss) were as follows:

(Millions of dollars)	Total		Foreign Currency Translation		Benefit Plans		Cash Flow Hedges
Balance at September 30, 2019	$	(2,283)	$	(1,256)	$	(1,005)	$	(23)
Other comprehensive loss before reclassifications, net of taxes	(338)		(161)		(101)		(76)
Amounts reclassified into income, net of taxes	74		—		66		8
Balance at September 30, 2020	$	(2,548)	$	(1,416)	$	(1,040)	$	(91)
Other comprehensive income before reclassifications, net of taxes	383		124		187		72
Amounts reclassified into income, net of taxes	77		—		68		9
Balance at September 30, 2021	$	(2,088)	$	(1,292)	$	(784)	$	(10)
Other comprehensive income before reclassifications, net of taxes	306		54		169		83
Amounts reclassified into income, net of taxes	43		—		41		2
Spin-off of Embecta (See Note 2)	251		251		—		—
Balance at September 30, 2022	$	(1,488)	$	(987)	$	(574)	$	75

Other Comprehensive Income (Loss), Tax

The tax impacts for amounts recognized in other comprehensive income before reclassifications were as follows:

(Millions of dollars)	2022		2021		2020
Benefit Plans
Income tax (provision) benefit for net gains (losses) recorded in other comprehensive income	$	(47)	$	(42)	$	30