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Supplemental Information
 12 Months Ended
Sep. 30, 2025
Disclosure Text Block Supplement [Abstract]  
Supplemental Information SUPPLEMENTAL INFORMATION
Related Party Transactions
We have related party sales to some of our equity affiliates and joint venture partners as well as other income primarily from fees charged for use of Air Products' patents and technology. Sales to and other income from related parties totaled approximately $355, $350, and $380 in fiscal years 2025, 2024, and 2023, respectively. Sales agreements with related parties include terms that are consistent with those that we believe would have been negotiated at an arm’s length with an independent party. As of 30 September 2025 and 2024, our consolidated balance sheets included related party trade receivables of approximately $105 and $120, respectively.
During the third quarter of fiscal year 2025, we reimbursed $24.7 to Mantle Ridge LP and certain of its affiliated entities (collectively, “Mantle Ridge”) for costs they incurred in connection with the proxy contest that concluded in January 2025. Refer to “Shareholder Activism-Related Costs” below for additional information.
Refer to Note 17, Debt, for information concerning debt owed to related parties.
Shareholder Activism-Related Costs
Our consolidated income statement for fiscal year 2025 includes shareholder activism-related costs totaling $86.3 ($71.7 after tax) recorded in connection with a proxy contest that concluded in January 2025 following certification of the election of directors at the 2025 Annual Meeting of Shareholders.
Of the total, $31.9 was incurred directly by Air Products for legal and other professional service fees and proxy solicitation expenses, primarily during the first quarter. An additional $29.7 was recorded due to the departure of our former chief executive officer following the Board of Directors’ appointment of a new chief executive officer. These separation costs included a noncash expense of $22.4 to accelerate vesting of share-based awards and $7.3 in severance and other cash benefits paid during the second quarter. The remaining $24.7 relates to a cash reimbursement paid to Mantle Ridge, an investor in Air Products, who nominated three of the nine directors elected in 2025, including Paul C. Hilal, Mantle Ridge’s founder and chief executive officer.
The Board of Directors voted to authorize the cash reimbursement during the third quarter, with Mr. Hilal abstaining from the vote. Reimbursed costs included those incurred by Mantle Ridge for legal counsel, proxy engagement services, governance advisors, communication expenses, and other out-of-pocket costs related to its engagement with Air Products. The Board members who voted on this matter unanimously concluded that these expenses were incurred in the interest of enhancing long-term value for all shareholders and that the election of three of Mantle Ridge’s nominees reflected strong shareholder support for Mantle Ridge’s engagement. Accordingly, the Board determined that such expenses should be shared pro rata among all shareholders.
Supplemental Balance Sheet Information
Other Receivables and Current Assets
30 September20252024
Derivative instruments$81.6 $93.9 
Value added tax receivable243.4 195.9 
Contract fulfillment costs85.4 103.7 
Contract assets152.6 76.2 
Current lease receivables49.4 74.5 
Other77.1 66.6 
Other receivables and current assets$689.5 $610.8 
Other Noncurrent Assets
30 September20252024
Pension benefits$210.9 $200.0 
Derivative instruments162.8 48.7 
Deferred tax assets127.9 127.8 
Prepaid tax100.4 41.0 
Contract assets82.3 — 
Contract fulfillment costs33.8 — 
Investments other than equity method17.4 67.1 
Deferred financing fees3.8 4.6 
World Energy deferred project costs(A)
— 329.4 
Other282.0 352.9 
Other noncurrent assets$1,021.3 $1,171.5 
(A)Prior year balance includes assets that were subsequently written off in fiscal year 2025 as part of our exit from the sustainable aviation fuel expansion project with World Energy. Refer to Note 5, Business and Asset Actions, for additional information.
Payables and Accrued Liabilities
30 September20252024
Trade creditors$1,437.0 $1,451.6 
Dividends payable398.4 393.6 
Accrued payroll and employee benefits303.3 257.2 
Contract liabilities253.4 240.0 
Project exit costs178.3 — 
Accrued interest138.8 120.6 
Severance and other postemployment benefits101.6 34.0 
Current lease obligations91.8 100.3 
Derivative instruments35.9 44.6 
Pension and postretirement benefits15.8 11.3 
Other283.4 273.0 
Payables and accrued liabilities$3,237.7 $2,926.2 

Other Noncurrent Liabilities
30 September20252024
Asset retirement obligations$328.8 $322.9 
Contract liabilities283.6 290.0 
Pension benefits266.1 236.1 
Postretirement benefits5.0 8.9 
Contingencies related to uncertain tax positions120.7 98.5 
Environmental liabilities71.8 67.2 
Derivative instruments57.7 56.0 
Long-term accrued income taxes related to U.S. tax reform— 60.8 
Other214.4 210.1 
Other noncurrent liabilities$1,348.1 $1,350.5