Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2020

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets and Liabilities Measured at Fair Value

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of September 30, 2020 and 2019 (in millions):

	Fair Value Measurements Using:
	Total as of September 30, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other current assets
Foreign currency exchange derivatives	$	27	$	—	$	27	$	—
Exchange traded funds (fixed income)1	19		19		—		—
Commodity derivatives	2		—		2		—
Other noncurrent assets
Deferred compensation plan assets	63		63		—		—
Exchange traded funds (fixed income)1	143		143		—		—
Exchange traded funds (equity)1	129		129		—		—
Equity swap	58		—		58		—
Total assets	$	441	$	354	$	87	$	—
Other current liabilities
Foreign currency exchange derivatives	$	10	$	—	$	10	$	—
Total liabilities	$	10	$	—	$	10	$	—

	Fair Value Measurements Using:
	Total as of September 30, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other current assets
Foreign currency exchange derivatives	$	35	$	—	$	35	$	—
Exchange traded funds (fixed income)1	19		19		—		—
Other noncurrent assets
Deferred compensation plan assets	71		71		—		—
Exchange traded funds (fixed income)1	138		138		—		—
Exchange traded funds (equity)1	116		116		—		—
Equity swap	62		—		62		—
Total assets	$	441	$	344	$	97	$	—
Other current liabilities
Foreign currency exchange derivatives	$	23	$	—	$	23	$	—
Commodity derivatives	1		—		1		—
Total liabilities	$	24	$	—	$	24	$	—

 1Classified as restricted investments for payment of asbestos liabilities. See Note 22, "Commitments and Contingencies" of the notes to consolidated financial statements for further details.

Debt Securities, Trading, and Equity Securities, FV-NI

The following table presents the portion of unrealized gains (losses) recognized in the consolidated statements of income for the years ended September 30, 2020 and 2019 that relate to equity securities still held at September 30, 2020 and 2019 (in millions):

	Year Ended September 30,
	2020		2019
Deferred compensation plan assets	$	1	$	(2)
Investments in exchange traded funds	21		12