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Retirement Benefits (Tables) - Defined Benefit Pension Plan
 12 Months Ended
Sep. 30, 2018
Schedule of Net Periodic Benefit Cost The cost of our defined benefit pension plans in fiscal years 2018, 2017, and 2016 included the following components:
 
2018
 
2017
 
2016
 
U.S.

International

 
U.S.

International

 
U.S.

International

Service cost

$25.5


$25.5

 

$29.0


$25.9

 

$36.5


$24.3

Interest cost
107.2

37.3

 
107.5

32.2

 
110.7

44.3

Expected return on plan assets
(201.6
)
(81.7
)
 
(207.7
)
(75.2
)
 
(202.0
)
(78.3
)
Amortization
 
 
 
 
 
 
 
 
Net actuarial loss
87.4

40.2

 
88.7

54.7

 
85.3

35.6

Prior service cost (credit)
1.6

—

 
2.3

(.1
)
 
2.8

(.2
)
Settlements
45.0

3.5

 
10.5

1.7

 
5.1

1.3

Curtailments
—

—

 
4.3

(1.3
)
 
—

(1.1
)
Special termination benefits
.4

—

 
2.8

.4

 
2.0

—

Other
—

1.5

 
—

1.1

 
(.3
)
2.1

Net Periodic Benefit Cost – Total

$65.5


$26.3

 

$37.4


$39.4

 

$40.1


$28.0

Less: Discontinued Operations
—

—

 
(.7
)
(4.1
)
 
(7.9
)
(4.4
)
Net Periodic Benefit Cost – Continuing Operations

$65.5


$26.3

 

$36.7


$35.3

 

$32.2


$23.6
Schedule of Assumptions Used in The Calculation of Net Periodic Pension Cost and PBO We calculate net periodic benefit cost for a given fiscal year based on assumptions developed at the end of the previous fiscal year. The following table sets forth the weighted average assumptions used in the calculation of net periodic benefit cost:
 
2018
 
2017
 
2016
  
U.S.

International

 
U.S.

International

 
U.S.

International

Discount rate – Service cost
3.9
%
2.6
%
 
3.6
%
2.1
%
 
4.5
%
3.4
%
Discount rate – Interest cost
3.3
%
2.2
%
 
3.0
%
1.8
%
 
3.6
%
2.9
%
Expected return on plan assets
7.5
%
5.8
%
 
8.0
%
6.1
%
 
8.0
%
6.3
%
Rate of compensation increase
3.5
%
3.6
%
 
3.5
%
3.5
%
 
3.5
%
3.5
%

The projected benefit obligation (PBO) is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future salary increases. The following table sets forth the weighted average assumptions used in the calculation of the PBO:
 
 
2018
 
2017
 
 
U.S.

 
International

 
U.S.

 
International

Discount rate
 
4.3
%
 
2.5
%
 
3.8
%
 
2.4
%
Rate of compensation increase
 
3.5
%
 
3.5
%
 
3.5
%
 
3.6
%
Schedule of Changes in Projected Benefit Obligations
 
 
2018
 
2017
 
 
U.S.

 
International

 
U.S.

 
International

Change in Projected Benefit Obligation
 
 
 
 
 
 
 
 
Obligation at beginning of year
 

$3,357.7

 

$1,749.5

 

$3,477.7

 

$1,849.6

Service cost
 
25.5

 
25.5

 
29.0

 
25.9

Interest cost
 
107.2

 
37.3

 
107.5

 
32.2

Amendments
 
.1

 
.7

 
1.9

 
—

Actuarial gain
 
(217.8
)
 
(33.9
)
 
(68.0
)
 
(132.4
)
Divestitures
 
—

 
—

 
—

 
(34.1
)
Curtailments
 
—

 
—

 
(17.3
)
 
(4.2
)
Settlements
 
(193.0
)
 
(24.6
)
 
7.0

 
—

Special termination benefits
 
.4

 
—

 
2.8

 
—

Participant contributions
 
—

 
1.4

 
—

 
1.4

Benefits paid
 
(157.3
)
 
(51.3
)
 
(182.9
)
 
(46.5
)
Currency translation/other
 
—

 
(44.1
)
 
—

 
57.6

Obligation at End of Year
 

$2,922.8

 

$1,660.5

 

$3,357.7

 

$1,749.5
Schedule of Changes in Fair Value of Plan Assets
 
 
2018
 
2017
 
 
U.S.

 
International

 
U.S.

 
International

Change in Plan Assets
 
 
 
 
 
 
 
 
Fair value at beginning of year
 

$2,869.2

 

$1,540.0

 

$2,705.3

 

$1,411.1

Actual return on plan assets
 
150.2

 
115.5

 
319.6

 
87.9

Company contributions
 
14.6

 
53.7

 
27.2

 
42.2

Participant contributions
 
—

 
1.4

 
—

 
1.4

Divestitures
 
—

 
—

 
—

 
(3.0
)
Benefits paid
 
(157.3
)
 
(51.3
)
 
(182.9
)
 
(46.5
)
Settlements
 
(191.8
)
 
(24.6
)
 
—

 
(5.3
)
Currency translation/other
 
—

 
(46.5
)
 
—

 
52.2

Fair Value at End of Year
 

$2,684.9

 

$1,588.2

 

$2,869.2

 

$1,540.0

Funded Status at End of Year
 

($237.9
)
 

($72.3
)
 

($488.5
)
 

($209.5
)
Schedule of Amounts Recognized in Balance Sheet
Amounts Recognized
 
 
 
 
 
 
 
 
Noncurrent assets
 

$28.2

 

$103.5

 

$5.3

 

$13.1

Accrued liabilities
 
23.5

 
1.2

 
12.6

 
—

Noncurrent liabilities
 
242.6

 
174.6

 
481.2

 
222.6

Net Liability Recognized
 

$237.9

 

$72.3

 

$488.5

 

$209.5
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) The changes in plan assets and benefit obligation that have been recognized in other comprehensive income on a pretax basis during fiscal years 2018 and 2017 consist of the following:
 
 
2018
 
2017
 
 
U.S.

 
International

 
U.S.

 
International

Net actuarial gain arising during the period
 

($167.7
)
 

($64.6
)
 

($189.8
)
 

($162.0
)
Amortization of net actuarial loss
 
(132.4
)
 
(43.7
)
 
(103.3
)
 
(55.7
)
Prior service cost arising during the period
 
.1

 
.7

 
1.9

 
—

Amortization of prior service cost
 
(1.6
)
 
—

 
(2.3
)
 
.1

Total
 

($301.6
)
 

($107.6
)
 

($293.5
)
 

($217.6
)
Schedule of Components Recognized in Accumulated Other Comprehensive Income on Pretax Basis The components recognized in accumulated other comprehensive loss on a pretax basis at 30 September consisted of the following:
 
 
2018
 
2017
 
 
U.S.

 
International

 
U.S.

 
International

Net actuarial loss
 

$680.4

 

$443.6

 

$980.5

 

$551.9

Prior service cost (credit)
 
6.6

 
(1.1
)
 
8.1

 
(1.8
)
Net transition liability
 
—

 
.4

 
—

 
.4

Total
 

$687.0

 

$442.9

 

$988.6

 

$550.5
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year The amount of accumulated other comprehensive loss at 30 September 2018 that is expected to be recognized as a component of net periodic pension cost during fiscal year 2019, excluding discontinued operations and amounts that may be recognized through settlement losses, is as follows:
 
 
U.S.

 
International

Net actuarial loss
 

$65.1

 

$11.2

Prior service cost (credit)
 
1.0

 
(.2
)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets The following table provides information on pension plans where the benefit liability exceeds the value of plan assets:
 
30 September 2018
 
30 September 2017
 
U.S.

International

 
U.S.

International

Pension Plans with PBO in Excess of Plan Assets:
 
 
 
 
 
PBO

$2,733.6


$452.6

 

$3,116.7


$465.7

Fair value of plan assets
2,467.5

276.8

 
2,623.0

243.1

Pension Plans with ABO in Excess of Plan Assets:
 
 
 
 
 
ABO

$2,608.6


$357.9

 

$2,951.0


$365.6

Fair value of plan assets
2,467.5

228.2

 
2,623.0

197.1
Schedule of Target and Actual Asset Allocations by Category The actual and target allocations at the measurement date are as follows:
 
 
2018 Target Allocation
 
2018 Actual Allocation
 
2017 Actual Allocation
 
 
U.S.
 
International
 
U.S.

 
International

 
U.S.

 
International

Asset Category
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
 
38
-
48%
 
40
-
49%
 
41
%
 
46
%
 
58
%
 
53
%
Debt securities
 
44
-
54%
 
50
-
60%
 
50
%
 
53
%
 
34
%
 
46
%
Real estate/other
 
—
-
10%
 
—
-
—%
 
8
%
 
—
%
 
7
%
 
1
%
Cash
 
 
 
—%
 
 
 
—%
 
1
%
 
1
%
 
1
%
 
—
%
Total
 
 
 
 
 
 
 
 
 
100
%
 
100
%
 
100
%
 
100
%
Schedule of Allocation of Plan Assets The following table summarizes pension plan assets measured at fair value by asset class (see Note 14, Fair Value Measurements, for definition of the levels):
 
30 September 2018
 
30 September 2017
 
Total
Level 1
Level 2
Level 3
 
Total
Level 1
Level 2
Level 3
U.S. Qualified Pension Plans
 
 
 
 
 
 
 
 
 
Cash and cash equivalents

$13.8


$13.8


$—


$—

 

$13.6


$13.6


$—


$—

Equity securities
397.9

397.9

—

—

 
598.6

598.6

—

—

Equity mutual funds
173.8

173.8

—

—

 
276.5

276.5

—

—

Equity pooled funds
545.2

—

545.2

—

 
787.0

—

787.0

—

Fixed income:
 
 
 
 
 
 
 
 
 
Bonds (government
and corporate)
1,344.6

—

1,344.6

—

 
985.7

—

985.7

—

Total U.S. Qualified Pension Plans at Fair Value

$2,475.3


$585.5


$1,889.8


$—

 

$2,661.4


$888.7


$1,772.7


$—

Real estate pooled funds(A)

$209.6

 
 
 
 

$207.8

 
 
 
Total U.S. Qualified Pension Plans

$2,684.9





 
 

$2,869.2





 
International Pension Plans
 
 
 
 
 
 
 
 
 
Cash and cash equivalents

$15.8


$15.8


$—


$—

 

$7.3


$7.3


$—


$—

Equity pooled funds
727.9

—

727.9

—

 
821.4

—

821.4

—

Fixed income pooled funds
615.2

—

615.2

—

 
651.3

—

651.3

—

Other pooled funds
11.6

—

11.6

—

 
18.6

—

10.8

7.8

Insurance contracts
217.7

—

—

217.7

 
41.4

—

—

41.4

Total International Pension Plans

$1,588.2


$15.8


$1,354.7


$217.7

 

$1,540.0


$7.3


$1,483.5


$49.2


(A) 
Real estate pooled funds consist of funds that invest in properties. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy. During fiscal year 2018, we identified that these investments were improperly included in the fair value hierarchy table of our 2017 Form 10-K. Accordingly, we have updated the prior period to conform with the appropriate current year presentation.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets The following table summarizes changes in fair value of the pension plan assets classified as Level 3, by asset class:
 
 
Other
Pooled Funds

 
Insurance
Contracts

 
Total

30 September 2016
 

$7.3

 

$45.8

 

$53.1

Actual return on plan assets:
 
 
 
 
 
 
Assets held at end of year
 
1.2

 
(1.0
)
 
.2

Assets sold during the period
 
.3

 
—

 
.3

Purchases, sales, and settlements, net
 
(1.0
)
 
(3.4
)
 
(4.4
)
30 September 2017
 

$7.8

 

$41.4

 

$49.2

Actual return on plan assets:
 
 
 
 
 
 
Assets held at end of year
 
—

 
.9

 
.9

Assets sold during the period
 
.5

 
—

 
.5

Purchases, sales, and settlements, net
 
(8.3
)
 
175.4

 
167.1

30 September 2018
 

$—

 

$217.7

 

$217.7
Schedule of Expected Benefit Payments Projected benefit payments, which reflect expected future service, are as follows:
 
 
U.S.

 
International

2019
 

$165.5

 

$52.8

2020
 
152.4

 
53.9

2021
 
157.0

 
55.6

2022
 
163.7

 
56.0

2023
 
167.9

 
60.6

2024-2028
 
900.2

 
336.8