Business and Asset Actions

9 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

BUSINESS AND ASSET ACTIONS

During the three and nine months ended 30 June 2023, we recorded charges of $59.0 ($51.2 attributable to Air Products after tax) and $244.6 ($204.9 attributable to Air Products after tax), respectively, for strategic business and asset actions intended to optimize costs and focus resources on our growth projects. These actions included position eliminations and restructuring of certain organizations globally as well as the exit from certain projects associated with our Asia and Europe segments that were previously under construction.

The charges for these periods, which were not recorded in segment results, included noncash charges of $32.0 and $217.6, respectively, to write-off certain assets, including those related to our withdrawal from coal gasification in Indonesia as well as a project in Ukraine that was permanently suspended due to Russia's invasion of the country. The charge also included an expense of $27.0 recorded during the third quarter for severance and other benefits payable to approximately 450 employees. The table below summarizes the carrying amount of the accrual for unpaid benefits as of 30 June 2023, which we expect to substantially pay over the next twelve months.


Charge for severance and other benefits			$27.0
Cash expenditures			(2.3)

Amount reflected in "Payables and accrued liabilities" as of 30 June 2023			$24.7