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Debt (Tables)
 12 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Summary of Short-Term Debt The carrying value of Current debt obligations, net of unamortized debt issuance costs, at September 30 consisted of:
(Millions of dollars)20222021
Commercial paper borrowings$230 $— 
Current portion of long-term debt
1.000% Notes due December 15, 2022
487 — 
Floating Rate Notes due June 6, 2022(a)— 500 
1.401% Notes due May 24, 2023
292 — 
0.632% Notes due June 4, 2023
779 — 
0.000% Notes due August 13, 2023
390 — 
Total current debt obligations$2,179 $500 
(a)All of the aggregate principal amount outstanding was retired during 2022, as further discussed below.
Summary of Long-Term Debt The carrying value of Long-Term Debt, net of unamortized debt issuance costs, at September 30 consisted of:
(Millions of dollars)20222021
1.000% Notes due December 15, 2022
$— $579 
1.401% Notes due May 24, 2023
— 347 
0.632% Notes due June 4, 2023
— 926 
0.000% Notes due August 13, 2023
— 463 
3.875% Notes due May 15, 2024
145 146 
3.363% Notes due June 6, 2024
996 994 
3.734% Notes due December 15, 2024
873 873 
3.020% Notes due May 24, 2025
275 336 
0.034% Notes due August 13, 2025
485 577 
1.208% Notes due June 4, 2026
583 693 
6.700% Notes due December 1, 2026
165 168 
1.900% Notes due December 15, 2026
485 577 
3.700% Notes due June 6, 2027
1,718 1,716 
7.000% Debentures due August 1, 2027
(a)119 174 
6.700% Debentures due August 1, 2028
(a)116 173 
0.334% Notes due August 13, 2028
872 1,037 
2.823% Notes due May 20, 2030
745 744 
1.957% Notes due February 11, 2031
992 992 
4.298% Notes due August 22, 2032
(b)495 — 
1.213% Notes due February 12, 2036
580 690 
6.000% Notes due May 15, 2039
(a)121 246 
5.000% Notes due November 12, 2040
(a)90 124 
1.336% Notes due August 13, 2041
869 1,034 
4.875% Notes due May 15, 2044
246 246 
4.685% Notes due December 15, 2044
(a)911 1,033 
4.669% Notes due June 6, 2047
1,449 1,481 
3.794% Notes due May 20, 2050
(a)554 742 
Total Long-Term Debt$13,886 $17,110 
(a)A portion of the aggregate principal amount outstanding was retired during 2022, as further discussed below.
(b)Represents notes issued during 2022, as further discussed below.
Schedule of Debt Issuances
The Company issued the following U.S. dollar-denominated debt during fiscal years 2022 and 2021:
Interest rate and maturityPeriod issuedAmount issued (Millions of dollars)Use of proceeds
4.298% notes due August 22, 2032
Fourth quarter 2022$500 Fourth quarter 2022 retirements detailed below
1.957% notes due February 11, 2031
Second quarter 2021$1,000 
Retirement of 3.125% notes due November 8, 2021
The Company issued the following Euro-denominated debt during fiscal year 2021:
Interest rate and maturityPeriod issuedAmount issued (Millions of Euros)Amount issued (millions of dollars)Use of proceeds
0.000% notes due August 13, 2023
Fourth quarter 2021€400 $470 Fourth quarter 2021 retirements detailed below
 0.034% notes due August 13, 2025
Fourth quarter 2021500 587 Fourth quarter 2021 retirements detailed below
The notes issued by Becton Dickinson Euro Finance S.à r.l included the following:
Interest rate and maturityPeriod issuedAmount issued (Millions of Euros)Amount issued (Millions of dollars)Use of proceeds
0.334% notes due August 13, 2028
Fourth quarter 2021€900 $1,055 Fourth quarter 2021 retirements detailed below
1.336% notes due August 13, 2041
Fourth quarter 2021900 1,055 Fourth quarter 2021 retirements detailed below
1.213% notes due February 12, 2036
Second quarter 2021600 728 
Retirement of 0.174% notes due June 4, 2021
Schedule of Extinguishment of Debt On August 8, 2022, the Company commenced a series of tender offers to purchase for cash, certain of its outstanding senior notes. Proceeds from the notes issued in the fourth quarter of fiscal year 2022 plus cash on
hand were used to pay for the tender offers. As a result of the tender, the Company’s retirements of debt in fiscal year 2022 included the following:
(Millions of dollars)
Principal, interest rate and maturityPeriod of retirementCarrying valueMarket price of retirement (a)
(Gain) loss recognized to Other (expense) income, net (b)
$190 million of 3.794% notes due 2050
Fourth quarter 2022$188 $163 $(25)
$52 million of 7.000% debentures due 2027
Fourth quarter 202254 59 5 
$55 million of 6.700% debentures due 2028
Fourth quarter 202256 62 5 
$127 million of 6.000% notes due 2039
Fourth quarter 2022125 145 20 
$34 million of 5.000% notes due 2040
Fourth quarter 202234 35 1 
$42 million of 4.685% notes due 2044
Fourth quarter 202243 42 (1)
(a)Included accrued interest, related premiums, fees and expenses.
(b)Debt retirement was accounted for as an early debt extinguishment.

To mitigate the impact of rate volatility on the total tender cash spend, the Company executed reverse Treasury locks that were unwound concurrent with the tender at a loss of $17 million.

The Company’s retirements of debt in fiscal year 2021 included the following:
 (Millions of dollars)
Principal, interest rate and maturityPeriod of retirementCarrying valueMarket price of retirement (a)
Loss recognized to Other (expense) income, net (b)
$1.535 billion of 2.894% notes due June 6, 2022
Fourth quarter 2021$1,534 $1,566 $32 
$294 million of 3.300% notes due March 1, 2023
Fourth quarter 2021295 307 12 
$33 million of 3.875% notes due May 15, 2024
Fourth quarter 202133 35 2 
$500 million of 3.734% notes due December 15, 2024
Fourth quarter 2021499 546 48 
$752 million of 3.363% notes due June 6, 2024
Fourth quarter 2021750 808 58 
$1.0 billion of 3.125% notes due November 8, 2021
Second quarter 20211,005 1,019 14 
600 million Euros ($728 million) of 0.174% notes due June 4, 2021
Second quarter 2021728 730 1 
$265 million of 2.894% notes due June 6, 2022
First quarter 2021265 275 10 
(a)Included accrued interest, related premiums, fees and expenses.
(b)All debt retirements in fiscal year 2021 were accounted for as early debt extinguishments.
Summary of Interest Costs and Payments A summary of interest costs and payments for the years ended September 30 is as follows:
(Millions of dollars)202220212020
Charged to operations$398 $469 $528 
Capitalized46 44 43 
Total interest costs$444 $512 $571 
Interest paid, net of amounts capitalized$390 $474 $515