Business Segment Information

6 Months Ended

Mar. 31, 2022

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. Effective 1 October 2021, we report our results under the following five reporting segments:

•Americas;

•Asia;

•Europe;

•Middle East and India; and

•Corporate and other

Except for 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 Corporate and other segment includes the aggregation of three operating segments that meet the aggregation criteria under GAAP.

Segment Reorganization

The segment results presented below reflect the segment reorganization announced on 4 November 2021. The reorganization included the separation of our former Industrial Gases – EMEA (Europe, Middle East, and Africa) segment into two separate reporting segments: (1) Europe and (2) Middle East and India. The results of an affiliate formerly reflected in the Asia segment are now reported in the Middle East and India segment. Additionally, the results of our Industrial Gases – Global operating segment are reflected in the Corporate and other segment. The prior year information presented below has been updated to conform with the fiscal year 2022 presentation.

Summary by Business Segment

	Americas	Asia	Europe	Middle East  and India	Corporate and other	Total
Three Months Ended 31 March 2022
Sales	$1,186.6	$751.2	$738.6	$28.9	$239.8	$2,945.1	(A)
Operating income (loss)	275.5	203.6	116.4	4.8	(38.4)	561.9	(B)
Depreciation and amortization	153.7	111.8	50.3	6.9	13.2	335.9
Equity affiliates' income	20.1	6.2	23.3	71.1	0.1	120.8
Three Months Ended 31 March 2021
Sales	$1,056.1	$697.5	$558.4	$26.2	$163.8	$2,502.0	(A)
Operating income (loss)	263.4	198.5	132.9	6.7	(66.6)	534.9	(B)
Depreciation and amortization	153.3	109.7	51.0	6.6	8.7	329.3
Equity affiliates' income	32.3	7.1	12.6	16.1	1.7	69.8

(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation.

(B)Refer to the Reconciliation to Consolidated Results section below.

	Americas	Asia	Europe	Middle East  and India	Corporate and other	Total
Six Months Ended 31 March 2022
Sales	$2,410.7	$1,531.6	$1,482.8	$52.6	$461.6	$5,939.3	(A)
Operating income (loss)	542.7	424.7	215.6	9.6	(107.7)	1,084.9	(B)
Depreciation and amortization	309.0	222.6	100.1	13.0	23.5	668.2
Equity affiliates' income	54.3	12.8	37.2	163.4	0.9	268.6
Six Months Ended 31 March 2021
Sales	$1,989.1	$1,415.0	$1,101.9	$45.7	$325.5	$4,877.2	(A)
Operating income (loss)	489.2	413.3	270.4	10.7	(109.6)	1,074.0	(B)
Depreciation and amortization	305.1	217.6	100.3	12.7	17.3	653.0
Equity affiliates' income	54.6	15.9	27.5	37.3	3.8	139.1
Total Assets
31 March 2022	$7,801.9	$7,712.6	$3,933.9	$2,676.8	$5,324.5	$27,449.7
30 September 2021	7,092.5	7,349.4	3,830.3	800.6	7,786.4	26,859.2

(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation.

(B)Refer to the Reconciliation to Consolidated Results section below.

Reconciliation to Consolidated Results

The table below reconciles total operating income disclosed in the tables above to consolidated operating income as reflected on our consolidated income statements:

	Three Months Ended		Six Months Ended
	31 March		31 March
Operating Income	2022	2021	2022	2021
Total	$561.9	$534.9	$1,084.9	$1,074.0
Facility closure	—	(23.2)	—	(23.2)
Gain on exchange with joint venture partner	—	36.8	—	36.8
Consolidated Operating Income	$561.9	$548.5	$1,084.9	$1,087.6