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Fair Value Measurements (Tables)
9 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of Carrying Value and Fair Value of Financial Instruments
The carrying values and fair values of financial instruments were as follows:
 
 
30 June 2017
 
30 September 2016
 
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Assets
 
 
 
 
 
 
 
 
Derivatives
 
 
 
 
 
 
 
 
Forward exchange contracts
 
$
143.1

 
$
143.1

 
$
193.8

 
$
193.8

Interest rate management contracts
 
164.7

 
164.7

 
179.9

 
179.9

Liabilities
 
 
 
 
 
 
 
 
Derivatives
 
 
 
 
 
 
 
 
Forward exchange contracts
 
$
72.1

 
$
72.1

 
$
82.6

 
$
82.6

Interest rate management contracts
 
23.5

 
23.5

 
12.7

 
12.7

Long-term debt, including current portion
 
3,782.6

 
3,884.6

 
4,275.1

 
4,474.0

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:
 
30 June 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
$
143.1

$

$
143.1

$

 
$
193.8

$

$
193.8

$

Interest rate management contracts
164.7


164.7


 
179.9


179.9


Total Assets at Fair Value
$
307.8

$

$
307.8

$

 
$
373.7

$

$
373.7

$

Liabilities at Fair Value
 
 
 
 
 
 
 
 
 
Derivatives
 
 
 
 
 
 
 
 
 
Forward exchange contracts
$
72.1

$

$
72.1

$

 
$
82.6

$

$
82.6

$

Interest rate management contracts
23.5


23.5


 
12.7


12.7


Total Liabilities at Fair Value
$
95.6

$

$
95.6

$

 
$
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
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 30 June 2017. For additional information, see Note 3, Discontinued Operations, and Note 5, Cost Reduction and Asset Actions.
 
30 June 2017
2017 Loss
 
Total
 
Level 1
Level 2
Level 3
Investment in Equity Affiliate(A)
$
68.5

 
$

$

$
68.5

$
79.5


(A) 
We assessed the recoverability of the carrying value of our equity investment in AHG. We estimated the fair value of our investment using weighting of the results of the income and market approaches. An impairment loss was recognized for the difference between the carrying amount and the fair value of the investment as of 30 June 2017. For additional information, see Note 7, Equity Affiliates.