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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities      
Net income $ 420 $ 317 $ 208
Adjustments to reconcile to cash flows from operations      
Loss on extinguishment of debt 36 19 0
Depreciation and amortization 92 66 61
Deferred income taxes 48 92 23
Pension contributions (5) (11) (10)
(Gain) loss on pension and other postretirement plan remeasurements (72) (22) 69
Stock-based compensation expense 14 12 9
Other, net 4 (5) (5)
Change in assets and liabilities      
Receivables (65) (11) (30)
Inventories (53) (1) (10)
Payables and accrued liabilities 95 (3) 37
Other assets and liabilities (110) (81) (27)
Total cash provided by operating activities 404 372 325
Cash flows from investing activities      
Additions to property, plant and equipment (144) (151) (108)
Notes receivable, net of repayments of $3 million in 2020 17 (31) (2)
Acquisitions of businesses, net of cash acquired (282) (40) (78)
Other investing activities, net 9 0 0
Total cash used in investing activities (400) (222) (188)
Cash flows from financing activities      
Proceeds from borrowings 555 1,558 752
Payments of debt issuance costs and discounts (7) (16) (2)
Repayments on borrowings (829) (929) (734)
Premium paid to extinguish debt (26) (15) 0
Repurchases of common stock (127) (60) 0
Cash dividends paid (91) (84) (80)
Other financing activities (11) (4) (7)
Total cash (used in) provided by financing activities (536) 450 (71)
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash 2 2 (3)
(Decrease) increase in cash, cash equivalents and restricted cash (530) 602 63
Cash, cash equivalents and restricted cash - beginning of year 761 159 96
Cash, cash equivalents and restricted cash - end of year 231 761 159
Interest paid 62 65 67
Income taxes paid $ 72 $ 44 $ 25