Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2017

Schedule of Carrying Value and Fair Value of Financial Instruments

The carrying values and fair values of financial instruments were as follows:



	31 March 2017				30 September 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Derivatives
Forward exchange contracts	$	129.2	$	129.2	$	193.8	$	193.8
Interest rate management contracts	196.3		196.3		179.9		179.9
Liabilities
Derivatives
Forward exchange contracts	$	91.0	$	91.0	$	82.6	$	82.6
Interest rate management contracts	23.7		23.7		12.7		12.7
Long-term debt, including current portion	3,720.9		3,823.0		4,275.1		4,450.5

Schedule of Fair Value Assets and Liabilities On Recurring Basis

The following table summarizes assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets:



	31 March 2017								30 September 2016
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets at Fair Value
Derivatives
Forward exchange contracts	$	129.2	$	—	$	129.2	$	—	$	193.8	$	—	$	193.8	$	—
Interest rate management contracts	196.3		—		196.3		—		179.9		—		179.9		—
Total Assets at Fair Value	$	325.5	$	—	$	325.5	$	—	$	373.7	$	—	$	373.7	$	—
Liabilities at Fair Value
Derivatives
Forward exchange contracts	$	91.0	$	—	$	91.0	$	—	$	82.6	$	—	$	82.6	$	—
Interest rate management contracts	23.7		—		23.7		—		12.7		—		12.7		—
Total Liabilities at Fair Value	$	114.7	$	—	$	114.7	$	—	$	95.3	$	—	$	95.3	$	—

Schedule of Nonrecurring Fair Value Measurements

The following is a tabular presentation of nonrecurring fair value measurements along with the level within the fair value hierarchy in which the fair value measurement in its entirety falls:



	31 December 2016								2017 Loss
	Total		Level 1		Level 2		Level 3		2017 Loss
Plant and Equipment – Continuing operations^(A)	$	1.4	$	—	$	—	$	1.4	$	45.7
Plant and Equipment – Discontinued operations^(A)	$	11.0	$	—	$	—	$	11.0	$	6.3

^(A)

We assessed the recoverability of the carrying value of assets associated with the EfW discontinued operation, including the air separation unit within continuing operations of our Industrial Gases – EMEA segment. We based our estimates primarily on an orderly liquidation valuation which resulted in losses for the difference between the orderly liquidation value and net book value of the assets as of 31 December 2016. There have been no significant updates to our estimates as of 31 March 2017. For additional information, see Note 3, Discontinued Operations and Note 5, Cost Reduction and Asset Actions.