Financial Instruments (Tables)

9 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Financial Instruments

Fair values of financial instruments are summarized as follows (in millions):

	June 30, 2020				September 30, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Cash and cash equivalents	$	280	$	280	$	108	$	108
Short-term debt	34		52		41		60
Long-term debt	1,193		1,239		902		953
Foreign exchange forward contracts (other liabilities)	2		2		—		—
Cross-currency swaps (other assets)	—		—		10		10
Cross-currency swaps (other liabilities)	—		—		5		5

Schedule of Offsetting of Derivative Assets and Liabilities

The following table reflects the offsetting of derivative assets and liabilities (in millions):

	June 30, 2020			September 30, 2019
	Gross Amounts Recognized	Gross Amounts Offset	Net Amounts Reported	Gross Amounts Recognized	Gross Amounts Offset	Net Amounts Reported
Derivative Assets
Cross-currency swaps	—	—	—	10	—	10
Derivative Liabilities
Foreign exchange forward contracts	2	—	2	—	—	—
Cross-currency swaps	—	—	—	5	—	5

Schedule of Fair Value of Financial Instruments by Valuation Hierarchy

Fair value of financial instruments by the valuation hierarchy at June 30, 2020 is as follows (in millions):

	Level 1		Level 2		Level 3
Cash and cash equivalents	$	280	$	—	$	—
Short-term debt	—		41		11
Long-term debt	—		1,076		163
Foreign exchange forward contracts (other liabilities)	—		2		—

Fair value of financial instruments by the valuation hierarchy at September 30, 2019 is as follows (in millions):

	Level 1		Level 2		Level 3
Cash and cash equivalents	$	108	$	—	$	—
Short-term debt	—		49		11
Long-term debt	—		782		171
Cross-currency swaps (other assets)	—		10		—
Cross-currency swaps (other liabilities)	—		5		—