Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Assumptions Used

The fair value of the Emergence Date Warrants as of March 31, 2020 and September 30, 2019 was determined using the input assumptions summarized below:

	March 31, 2020		September 30, 2019
Expected volatility	65.24	%	56.89	%
Risk-free interest rates	0.27	%	1.55	%
Contractual remaining life (in years)	2.71		3.21
Price per share of common stock	$8.09		$10.23

Schedule of Derivative Instruments in Balance Sheet

The following table summarizes the fair value of the Company's derivatives on a gross basis segregated between those that are designated as hedging instruments and those that are not designated as hedging instruments:

		March 31, 2020				September 30, 2019
(In millions)	Balance Sheet Caption	Asset		Liability		Asset		Liability
Derivatives Designated as Hedging Instruments:
Interest rate contracts	Other current liabilities	—		46		—		23
Interest rate contracts	Other liabilities	—		74		—		58
		—		120		—		81
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts	Other current assets	1		—		1		—
Foreign exchange contracts	Other current liabilities	—		6		—		—
Emergence Date Warrants	Other liabilities	—		2		—		5
		1		8		1		5
Total derivative fair value		$	1	$	128	$	1	$	86

Derivatives Designated as Cash Flow Hedges

The following tables provide information regarding the location and amount of pre-tax losses for derivatives designated as cash flow hedges:

	Three months ended March 31, 2020				Three months ended March 31, 2019
(In millions)	Interest Expense		Other Comprehensive Income (Loss)		Interest Expense		Other Comprehensive (Loss) Income
Financial Statement Line Item in which Cash Flow Hedges are Recorded	$	(53)	$	(55)	$	(58)	$	8
Impact of cash flow hedging relationships:
Loss recognized in AOCI on interest rate swaps	$	—	$	(54)	$	—	$	(16)
Interest expense reclassified from AOCI	$	(6)	$	6	$	(2)	$	2

	Six months ended March 31, 2020				Six months ended March 31, 2019
(In millions)	Interest Expense		Other Comprehensive Income (Loss)		Interest Expense		Other Comprehensive (Loss) Income
Financial Statement Line Item in which Cash Flow Hedges are Recorded	$	(111)	$	(45)	$	(118)	$	(12)
Impact of cash flow hedging relationships:
Loss recognized in AOCI on interest rate swaps	$	—	$	(50)	$	—	$	(47)
Interest expense reclassified from AOCI	$	(11)	$	11	$	(5)	$	5

Derivatives Not Designated As Hedging Instruments

The following table provides information regarding the pre-tax gains (losses) for derivatives not designated as hedging instruments on the Condensed Consolidated Statements of Operations:

		Three months ended March 31,				Six months ended March 31,
(In millions)	Location of Derivative Pre-tax Gain (Loss)	2020		2019		2020		2019
Emergence Date Warrants	Other income, net	$	6	$	3	$	3	$	21
Foreign exchange contracts	Other income, net	(7)		—		(2)		—

Schedule of Outstanding Derivative Positions Presented on a Net Basis

The following table provides information on the Company's derivative positions as if those subject to master netting arrangements were presented on a net basis, allowing for the right to offset by counterparty per the master netting agreements:

	March 31, 2020				September 30, 2019
(In millions)	Asset		Liability		Asset		Liability
Gross amounts recognized in the Condensed Consolidated Balance Sheets	$	1	$	128	$	1	$	86
Gross amount subject to offset in master netting arrangements not offset in the Condensed Consolidated Balance Sheets	(1)		(1)		(1)		(1)
Net amounts	$	—	$	127	$	—	$	85