Revenue Recognition

9 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

REVENUE RECOGNITION

The majority of our revenue is generated from our sale of gas customers within the regional industrial gases segments. We distribute gases through either our on-site or merchant supply mode depending on various factors, including the customer's volume requirements and location. The Corporate and other segment serves our sale of equipment customers.

Disaggregation of Revenue

The tables below present our consolidated sales disaggregated by supply mode for each of our reporting segments for the three and nine months ended 30 June 2022 and 2021. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.

	Americas	Asia	Europe	Middle East  and India	Corporate and other	Total	%
Three Months Ended 30 June 2022
On-site	$899.5	$446.2	$281.8	$18.8	$—	$1,646.3	51	%
Merchant	516.8	305.2	457.8	16.6	—	1,296.4	41	%
Sale of Equipment	—	—	—	—	246.6	246.6	8	%
Total	$1,416.3	$751.4	$739.6	$35.4	$246.6	$3,189.3	100	%
Three Months Ended 30 June 2021
On-site	$607.9	$442.8	$205.0	$17.1	$—	$1,272.8	49	%
Merchant	455.4	309.0	394.4	6.8	—	1,165.6	45	%
Sale of Equipment	—	—	—	—	166.3	166.3	6	%
Total	$1,063.3	$751.8	$599.4	$23.9	$166.3	$2,604.7	100	%

	Americas	Asia	Europe	Middle East  and India	Corporate and other	Total	%
Nine Months Ended 30 June 2022
On-site	$2,432.1	$1,358.2	$899.4	$52.4	$—	$4,742.1	52	%
Merchant	1,394.9	924.8	1,323.0	35.6	—	3,678.3	40	%
Sale of Equipment	—	—	—	—	708.2	708.2	8	%
Total	$3,827.0	$2,283.0	$2,222.4	$88.0	$708.2	$9,128.6	100	%
Nine Months Ended 30 June 2021
On-site	$1,785.9	$1,273.7	$564.2	$48.9	$—	$3,672.7	49	%
Merchant	1,266.5	893.1	1,137.1	20.7	—	3,317.4	44	%
Sale of Equipment	—	—	—	—	491.8	491.8	7	%
Total	$3,052.4	$2,166.8	$1,701.3	$69.6	$491.8	$7,481.9	100	%

Remaining Performance Obligations

As of 30 June 2022, the transaction price allocated to remaining performance obligations is estimated to be approximately $24 billion. This amount includes fixed-charge contract provisions associated with our on-site and sale of equipment supply modes. We estimate that approximately half of this revenue will be recognized over the next five years and the balance thereafter.

Expected revenue associated with new on-site plants that are not yet on stream is excluded from this amount. In addition, this amount excludes consideration associated with contracts having an expected duration of less than one year and variable consideration for which we recognize revenue at the amount to which we have the right to invoice, including energy pass-through costs.

In the future, actual amounts will differ due to events outside of our control, including, but not limited to, inflationary price escalations; currency exchange rates; and amended, terminated, or renewed contracts.

Contract Balances

The table below details balances arising from contracts with customers:

		30 June	30 September
	Balance Sheet Location	2022	2021
Assets
Contract assets – current	Other receivables and current assets	$53.0	$119.4
Contract fulfillment costs – current	Other receivables and current assets	101.4	125.5
Liabilities
Contract liabilities – current	Payables and accrued liabilities	477.1	366.8
Contract liabilities – noncurrent	Other noncurrent liabilities	68.8	58.4

Changes to our contract balances primarily relate to our sale of equipment contracts. During the nine months ended 30 June 2022, we recognized approximately $210 in revenue associated with sale of equipment contracts that was included within our contract liabilities as of 30 September 2021.