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Business Segment Information
 9 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
Our reporting segments reflect the manner in which our chief operating decision maker reviews results and allocates resources. Except in the Corporate and other segment, each reporting segment meets the definition of an operating segment and does not include the aggregation of multiple operating segments. Our liquefied natural gas (LNG) and helium storage and distribution sale of equipment businesses are aggregated within the Corporate and other segment.
Our reporting segments are:
•
Industrial Gases – Americas
•
Industrial Gases – EMEA (Europe, Middle East, and Africa)
•
Industrial Gases – Asia
•
Industrial Gases – Global
•
Corporate and other
 
Industrial
Gases –
Americas
Industrial
Gases –
EMEA
Industrial
Gases –
Asia
Industrial
Gases –
Global
Corporate
and other
Segment
Total
Three Months Ended 30 June 2018
Sales

$948.7


$561.1


$623.8


$101.1


$24.3


$2,259.0

Operating income (loss)
237.1

118.8

185.5

19.8

(45.4
)
515.8

Depreciation and amortization
120.5

49.8

69.5

2.3

3.5

245.6

Equity affiliates' income
24.1

17.5

15.1

1.4

—

58.1

Three Months Ended 30 June 2017
Sales

$930.1


$451.7


$538.3


$187.4


$14.4


$2,121.9

Operating income (loss)
234.9

96.2

149.5

27.8

(44.9
)
463.5

Depreciation and amortization
117.0

45.1

49.6

2.3

2.9

216.9

Equity affiliates' income
14.1

15.7

12.5

.3

—

42.6


 
 
 
 
 
 
 
 
Industrial
Gases –
Americas
Industrial
Gases –
EMEA
Industrial
Gases –
Asia
Industrial
Gases –
Global
Corporate
and other
Segment
Total
Nine Months Ended 30 June 2018
Sales

$2,771.7


$1,638.6


$1,825.0


$335.8


$60.2


$6,631.3

Operating income (loss)
676.6

340.0

509.7

41.4

(135.8
)
1,431.9

Depreciation and amortization
360.6

149.6

188.9

5.8

8.6

713.5

Equity affiliates' income
59.6

41.7

44.7

2.1

—

148.1

Nine Months Ended 30 June 2017
Sales

$2,684.1


$1,265.6


$1,412.5


$551.8


$70.5


$5,984.5

Operating income (loss)
681.4

274.8

380.2

58.7

(114.9
)
1,280.2

Depreciation and amortization
344.8

128.9

145.6

6.0

9.5

634.8

Equity affiliates' income
41.8

33.5

38.9

.6

—

114.8

Total Assets
30 June 2018

$5,857.7


$3,311.8


$5,880.0


$267.9


$3,888.6


$19,206.0

30 September 2017
5,840.8

3,276.1

4,412.1

279.6

4,648.4

18,457.0


The sales information noted above relates to external customers only. All intersegment sales are eliminated in consolidation. For the three and nine months ended 30 June 2018, the Industrial Gases – Global segment had intersegment sales of $68.7 and $186.6, respectively. For the three and nine months ended 30 June 2017, the Industrial Gases – Global segment had intersegment sales of $57.4 and $179.4, respectively. These sales are generally transacted at market pricing. For all other segments, intersegment sales are not material for all periods presented. Equipment manufactured for our industrial gases segments is generally transferred at cost and not reflected as an intersegment sale.
Changes in estimates on projects accounted for under the percentage-of-completion method favorably impacted operating income by approximately $15 and $25 for the three and nine months ended 30 June 2018, respectively. Changes in estimates on projects accounted for under the percentage-of-completion method favorably impacted operating income by approximately $15 and $27 for the three and nine months ended 30 June 2017, respectively.
In 2015, we entered into a long-term sale of equipment contract to engineer, procure, and construct industrial gas facilities with a 25%-owned joint venture for Saudi Aramco's Jazan oil refinery and power plant in Saudi Arabia. Sales related to this contract are included in the results of our Industrial Gases – Global segment. During the three and nine months ended 30 June 2018, sales were approximately $50 and $200, respectively, related to this contract. During the three and nine months ended 30 June 2017, sales were approximately $140 and $420, respectively.
Below is a reconciliation of segment total operating income to consolidated operating income:
 
Three Months Ended
Nine Months Ended
 
30 June
30 June
Operating Income
2018
2017
2018
2017
Segment total

$515.8


$463.5


$1,431.9


$1,280.2

Business separation costs
—

—

—

(32.5
)
Cost reduction and asset actions
—

(42.7
)
—

(103.0
)
Goodwill and intangible asset impairment charge
—

(162.1
)
—

(162.1
)
Consolidated Total

$515.8


$258.7


$1,431.9


$982.6

Below is a reconciliation of segment total equity affiliates' income to consolidated equity affiliates' income (loss):
 
Three Months Ended
Nine Months Ended
 
30 June
30 June
Equity Affiliates' Income (Loss)
2018
2017
2018
2017
Segment total

$58.1


$42.6


$148.1


$114.8

Equity method investment impairment charge
—

(79.5
)
—

(79.5
)
Tax reform repatriation - equity method investment
—

—

(32.5
)
—

Consolidated Total

$58.1


($36.9
)

$115.6


$35.3

Below is a reconciliation of segment total assets to consolidated total assets:
 
30 June
30 September
Total Assets
2018
2017
Segment total

$19,206.0


$18,457.0

Discontinued operations
—

10.2

Consolidated Total

$19,206.0


$18,467.2