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Summary by Quarter (Unaudited) (Tables)
 12 Months Ended
Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The table below provides unaudited selected financial data and weighted average share information for each quarter of fiscal year 2019:
2019
Q1
 
Q2
 
Q3
 
Q4
 
Total
 
Sales

$2,224.0

 

$2,187.7

 

$2,224.0

 

$2,283.2

 

$8,918.9

 
Gross profit
651.0

(A) 
713.0

 
758.0

 
792.4

 
2,914.4

(A) 
Cost reduction actions (See Note 6)
—

 
—

 
25.5

 
—

 
25.5

 
Gain on exchange of equity affiliate investments (See Note 7)
—

 
—

 
29.1

 
—

 
29.1

 
Operating income
455.0

 
516.5

 
569.7

 
603.2

 
2,144.4

 
Equity affiliates' income
52.9

 
46.2

 
56.4

 
59.9

 
215.4

 
Pension settlement loss (See Note 17)
—

 
5.0

 
—

 
—

 
5.0

 
Income tax provision
132.1

(B) 
107.5

 
109.3

(B) 
131.2

 
480.1

(B) 
Income from continuing operations
357.0

 
433.5

 
500.2

 
518.7

 
1,809.4

 
Income from discontinued operations, net of tax
—

 
—

 
—

 
—

 
—

 
Net income
357.0

 
433.5

 
500.2

 
518.7

 
1,809.4

 
Net Income Attributable to Air Products
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations

$347.5

 

$421.3

 

$488.0

 

$503.2

 

$1,760.0

 
Net income from discontinued operations
—

 
—

 
—

 
—

 
—

 
Net Income Attributable to Air Products

$347.5

 

$421.3

 

$488.0

 

$503.2

 

$1,760.0

 
Basic Earnings Per Common Share Attributable to Air Products
 
 
 
 
 
 
 
 
 
 
Basic earnings per share from continuing operations

$1.58

 

$1.91

 

$2.21

 

$2.28

 

$7.99

 
Basic earnings per share from discontinued operations
—

 
—

 
—

 
—

 
—

 
Basic Earnings Per Common Share Attributable to Air Products

$1.58

 

$1.91

 

$2.21

 

$2.28

 

$7.99

 
Diluted Earnings Per Common Share Attributable to Air Products
 
 
 
 
 
 
 
 
 
 
Diluted earnings per share from continuing operations

$1.57

 

$1.90

 

$2.20

 

$2.27

 

$7.94

 
Diluted earnings per share from discontinued operations
—

 
—

 
—

 
—

 
—

 
Diluted Earnings Per Common Share Attributable to Air Products

$1.57

 

$1.90

 

$2.20

 

$2.27

 

$7.94

 
Weighted Average Common Shares (in millions)
 
 
 
 
 
 
 
 
 
 
Basic
219.9

 
220.2

 
220.6

 
220.7

 
220.3

 
Diluted
221.0

 
221.4

 
221.9

 
222.1

 
221.6

 
Dividend Information
 
 
 
 
 
 
 
 
 
 
Dividends declared per common share

$1.10

 

$1.16

 

$1.16

 

$1.16

 

$4.58

 
The table below provides unaudited selected financial data and weighted average share information for each quarter of fiscal year 2018:
2018
Q1
 
Q2
 
Q3
 
Q4
 
Total
 
Sales

$2,216.6

 

$2,155.7

 

$2,259.0

 

$2,298.9

 

$8,930.2

 
Gross profit
644.8

 
649.2

 
713.6

 
733.1

(C) 
2,740.7

(C) 
Operating income
460.7

 
455.4

 
515.8

 
533.7

 
1,965.6

 
Equity affiliates' income
13.8

 
43.7

 
58.1

 
59.2

 
174.8

 
Pension settlement loss (See Note 17)
—

 
—

 
—

 
43.7

 
43.7

 
Income tax provision
291.8

(B) 
56.2

(D) 
107.1

 
69.2

(B)(D) 
524.3

(B)(D) 
Income from continuing operations
162.7

 
423.6

 
444.7

 
459.7

 
1,490.7

 
Income from discontinued operations, net of tax (See Note 4)
(1.0
)
 
—

 
43.2

 
—

 
42.2

 
Net income
161.7

 
423.6

 
487.9

 
459.7

 
1,532.9

 
Net Income Attributable to Air Products
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations

$155.6

 

$416.4

 

$430.7

 

$452.9

 

$1,455.6

 
Net income from discontinued operations
(1.0
)
 
—

 
43.2

 
—

 
42.2

 
Net Income Attributable to Air Products

$154.6

 

$416.4

 

$473.9

 

$452.9

 

$1,497.8

 
Basic Earnings Per Common Share Attributable to Air Products
 
 
 
 
 
 
 
 
 
 
Basic earnings per share from continuing operations

$.71

 

$1.90

 

$1.96

 

$2.06

 

$6.64

 
Basic earnings per share from discontinued operations
—

 
—

 
.20

 
—

 
.19

 
Basic Earnings Per Common Share Attributable to Air Products

$.71

 

$1.90

 

$2.16

 

$2.06

 

$6.83

 
Diluted Earnings Per Common Share Attributable to Air Products
 
 
 
 
 
 
 
 
 
 
Diluted earnings per share from continuing operations

$.70

 

$1.89

 

$1.95

 

$2.05

 

$6.59

 
Diluted earnings per share from discontinued operations
—

 
—

 
.20

 
—

 
.19

 
Diluted Earnings Per Common Share Attributable to Air Products

$.70

 

$1.89

 

$2.15

 

$2.05

 

$6.78

 
Weighted Average Common Shares (in millions)
 
 
 
 
 
 
 
 
 
 
Basic
218.9

 
219.4

 
219.5

 
219.6

 
219.3

 
Diluted
220.4

 
220.8

 
220.9

 
220.9

 
220.8

 
Dividend Information
 
 
 
 
 
 
 
 
 
 
Dividends declared per common share

$.95

 

$1.10

 

$1.10

 

$1.10

 

$4.25

 

(A) 
Includes the impact of a facility closure charge of $29.0 resulting from the government enforced shutdown of a customer. Refer to Note 24, Supplemental Information, for additional information.
(B) 
Our income tax provision for fiscal years 2019 and 2018 reflects impacts from the U.S. Tax Cuts and Jobs Act (the "Tax Act"). Refer to Note 23, Income Taxes, for additional information. Fiscal year 2019 includes a discrete net income tax expense of $43.8, primarily recorded in the first quarter to finalize our estimates of the impacts of the Tax Act. Fiscal year 2018 includes a discrete net income tax expense of $180.6, primarily recorded in the first quarter for our initial estimates of the impacts of the Tax Act.
(C) 
Includes the impact of a benefit of $24.1 for the change in inventory valuation method for our United States industrial gas inventories. Refer to Note 1, Major Accounting Policies, for additional information.
(D) 
Includes an income tax benefit of $35.7, net of reserves for uncertain tax positions, resulting from the restructuring of several foreign subsidiaries, primarily during the second quarter.