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Pension and Retirement Plans (Tables)
12 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
The following table includes information for pension plans with accumulated benefit obligations ("ABO") in excess of plan assets (in millions):
September 30,
20252024
Accumulated benefit obligation$1,758 $331 
Fair value of plan assets1,595 149 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table includes information for pension plans with projected benefit obligations ("PBO") in excess of plan assets (in millions):
September 30,
20252024
Projected benefit obligation$1,806 $344 
Fair value of plan assets1,607 163 
Projected Benefit Payments from Plans
Projected benefit payments from the plans as of September 30, 2025 are estimated as follows (in millions):

2026$259 
2027223 
2028218 
2029216 
2030217 
2031 - 20351,051 
Accumulated Postretirement Benefit Obligations in Excess of Plan Assets
The following table includes information for postretirement plans with accumulated postretirement benefit obligations ("APBO") in excess of plan assets (in millions):
September 30,
20252024
Accumulated postretirement benefit obligation$48 $56 
Fair value of plan assets24 26 
Plan Assets by Asset Category
The Company’s plan assets at September 30, 2025 and 2024, by asset category, are as follows (in millions):

 Fair Value Measurements Using:
Asset CategoryTotal as of September 30, 2025Quoted Prices
in Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
U.S. Pension
Cash and Cash Equivalents$43 $— $43 $— 
Equity Securities
Large-Cap19 19 — — 
Small-Cap19 19 — — 
International - Developed49 49 — — 
International - Emerging11 11 — — 
Fixed Income Securities
Government197 197 — — 
Corporate/Other706 704 — 
Total Investments in the Fair Value Hierarchy1,044 $999 $45 $— 
Investments Measured at Net Asset Value(1)
Alternative193 
Real Estate230 
Due to Broker(19)
Total Plan Assets$1,448 
Non-U.S. Pension
Cash and Cash Equivalents$18 $18 $— $— 
Equity Securities
Large-Cap185 180 — 
International - Developed91 86 — 
International - Emerging— — 
Fixed Income Securities
Government685 10 675 
Corporate/Other260 170 90 
Hedge Fund— 
Real Estate
Total Investments in the Fair Value Hierarchy1,250 $212 $1,038 $— 
Real Estate Investments Measured at Net Asset Value(1)
24 
Total Plan Assets$1,274 
Postretirement
Cash and Cash Equivalents$$
Equity Securities - Global
99 99 
Total Investments in the Fair Value Hierarchy100 $$99 $— 
Multi-Credit Strategy Investments Measured at Net Asset Value(1)
75 
Total Plan Assets$175 
 Fair Value Measurements Using:
Asset CategoryTotal as of September 30, 2024Quoted Prices
in Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
U.S. Pension
Cash and Cash Equivalents$23 $— $23 $— 
Equity Securities
Large-Cap19 19 — — 
Small-Cap23 23 — — 
International - Developed45 45 — — 
International - Emerging— — 
Fixed Income Securities
Government265 265 — — 
Corporate/Other786 784 — 
Total Investments in the Fair Value Hierarchy1,169 $1,144 $25 $— 
Investments Measured at Net Asset Value(1)
Alternative235
Real Estate266
Due to Broker(79)
Total Plan Assets$1,591 
Non-U.S. Pension
Cash and Cash Equivalents$42 $42 $— $— 
Equity Securities
Large-Cap88 79 — 
International - Developed64 10 54 — 
International - Emerging— — 
Fixed Income Securities
Government789 26 763 — 
Corporate/Other417 282 135 — 
Hedge Fund22 — 22 — 
Real Estate11 11 — — 
Total Investments in the Fair Value Hierarchy1,436 $380 $1,056 $— 
Real Estate Investments Measured at Net Asset Value(1)
89 
Total Plan Assets$1,525 
Postretirement
Cash and Cash Equivalents$$$— $— 
Equity Securities - Global
89 — 89 — 
Total Investments in the Fair Value Hierarchy92 $$89 $— 
Multi-Credit Strategy Investments Measured at Net Asset Value(1)
69 
Total Plan Assets$161 

(1) The fair value of certain real estate, multi-credit strategy, and alternative investments do not have a readily determinable fair value and require the fund managers to independently arrive at fair value by calculating net asset value ("NAV") per share. In order to calculate NAV per share, the fund managers value the investments using any one, or a combination of, the following methods: independent third party appraisals, discounted cash flow analysis of net cash flows projected to be generated by the investment and recent sales of comparable investments. Assumptions used to revalue the investments are updated every quarter.
Due to the fact that the fund managers calculate NAV per share, the Company utilizes a practical expedient for measuring the fair value of its real estate, multi-credit strategy, and alternative investments, as provided for under ASC 820, "Fair Value Measurement." In applying the practical expedient, the Company is not required to further adjust the NAV provided by the fund manager in order to determine the fair value of its investments as the NAV per share is calculated in a manner consistent with the measurement principles of ASC 946, "Financial Services - Investment Companies," and as of the Company's measurement date. The Company believes this is an appropriate methodology to obtain the fair value of these assets. The fair value amounts presented in these tables are intended to permit reconciliation of total plan assets to the amounts presented in the notes to consolidated financial statements.
Accumulated Benefit Obligations and Reconciliations of Changes in Projected Benefit Obligation, Changes in Plan Assets and Funded Status
The following table contains the ABO and reconciliations of the changes in the PBO, the changes in plan assets and the funded status (in millions):
 Pension BenefitsPostretirement
Benefits
 U.S. PlansNon-U.S. Plans
September 30,202520242025202420252024
Accumulated Benefit Obligation$1,473 $1,603 $1,335 $1,563 $63 $73 
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year$1,603 $1,564 $1,617 $1,473 $73 $77 
Service cost— — 17 17 — — 
Interest cost65 79 64 69 
Plan participant contributions— — 
Actuarial loss (gain)(62)104 (111)84 (5)
Benefits and settlements paid(133)(144)(96)(132)(9)(13)
Divestitures— — (131)(5)— — 
Other— — (3)— (1)
Currency translation adjustment— — 14 106 — — 
Projected benefit obligation at end of year$1,473 $1,603 $1,374 $1,617 $63 $73 
Change in Plan Assets
Fair value of plan assets at beginning of year$1,591 $1,499 $1,525 $1,388 $161 $144 
Actual return on plan assets(12)234 (25)137 20 26 
Employer and employee contributions32 26 
Benefits and settlements paid(133)(144)(96)(132)(9)(13)
Divestitures— — (168)— — — 
Other— — (2)— — 
Currency translation adjustment— — 105 — — 
Fair value of plan assets at end of year$1,448 $1,591 $1,274 $1,525 $175 $161 
Funded status$(25)$(12)$(100)$(92)$112 $88 
Amounts recognized in the consolidated statements of financial position consist of:
Other noncurrent assets$$$72 $62 $136 $118 
Noncurrent assets held for sale— — — 52 — — 
Accrued compensation and benefits(2)(2)(12)(12)(2)(2)
Pension and postretirement benefit obligations (24)(12)(157)(166)(22)(28)
Noncurrent liabilities held for sale— — (3)(28)— — 
Net amount recognized$(25)$(12)$(100)$(92)$112 $88 
Weighted Average Assumptions (1)
Discount rate (2)
4.98 %4.60 %5.17 %4.35 %4.77 %4.50 %
Rate of compensation increaseN/AN/A2.91 %3.01 %N/AN/A
Interest crediting rateN/AN/A1.75 %1.58 %N/AN/A

(1) Plan assets and obligations are determined based on a September 30 measurement date at September 30, 2025 and 2024.

(2) The Company considers the expected benefit payments on a plan-by-plan basis when setting assumed discount rates. As a result, the Company uses different discount rates for each plan depending on the plan jurisdiction, the demographics of participants and the expected timing of benefit payments. For the U.S. pension and postretirement plans, the Company uses a discount rate provided by an independent third party calculated based on an appropriate mix of high quality bonds. For the non-
U.S. pension and postretirement plans, the Company consistently uses the relevant country specific benchmark indices for determining the various discount rates. The Company has elected to utilize a full yield curve approach in the estimation of service and interest components of net periodic benefit cost (credit) for pension and other postretirement for plans that utilize a yield curve approach. The full yield curve approach applies the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.
Components of Net Periodic Benefit Cost
The following table contains the components of net periodic benefit costs, which are recorded in selling, general and administrative expenses or cost of sales consistent with the related employees' salaries in the consolidated statements of income (in millions):
 Pension BenefitsPostretirement Benefits
 U.S. PlansNon-U.S. Plans
Year ended September 30,202520242023202520242023202520242023
Components of Net Periodic Benefit Cost (Credit):
Service cost$— $— $— $17 $17 $16 $— $— $— 
Interest cost65 79 78 64 69 68 
Expected return on plan assets(98)(120)(131)(77)(72)(77)(11)(9)(9)
Net actuarial (gain) loss48 (9)28 (2)22 86 (14)(14)(5)
Settlement loss— — (3)— — — — 
Amortization of prior service credit— — — — — — (5)(5)(4)
Other— — — — — — — 
Net periodic benefit cost (credit)$15 $(50)$(24)$— $37 $99 $(27)$(24)$(14)
Expense Assumptions:
Discount rate4.60 %5.48 %5.08 %4.35 %4.72 %4.36 %4.50 %5.42 %4.92 %
Expected return on plan assets6.50 %8.50 %8.25 %5.44 %5.26 %5.02 %6.64 %6.62 %6.64 %
Rate of compensation increaseN/AN/AN/A3.01 %2.90 %3.00 %N/AN/AN/A
Interest crediting rate6.00 %6.00 %N/A1.58 %1.63 %1.69 %N/AN/AN/A