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Gain on Sale of Business
12 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Gain on Sale of Business GAIN ON SALE OF BUSINESS
On 30 September 2024, we completed the sale of our liquefied natural gas ("LNG") process technology and equipment business to Honeywell International Inc. for approximately $1.8 billion in an all-cash transaction. This divestiture reflects our commitment to our industrial gases and clean hydrogen growth strategy. As a result of the transaction, we recorded a gain of $1,575.6 during the fourth quarter of fiscal year 2024 that is reflected within "Gain on sale of business" on our consolidated income statements ($1,198.4 after tax). This gain was not recorded in segment results.
The LNG business does not qualify for presentation as a discontinued operation because the disposal does not represent a strategic shift that has had or will have a major effect on our operations and financial results. The LNG business generated operating income for our Corporate and other segment of approximately $135, $120, and $95 in fiscal years 2024, 2023, and 2022, respectively.