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Fair Value Measurement (Tables)
3 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Financial Assets and Financial Liabilities that are Measured at Fair Value on a Recurring Basis
The following table presents, on a gross basis, our financial assets and liabilities, including both current and noncurrent portions, that are measured at fair value on a recurring basis within the fair value hierarchy, as of December 31, 2018September 30, 2018 and December 31, 2017:
 
 
Asset (Liability)
 
 
Level 1
 
Level 2
 
Level 3
 
Total
December 31, 2018:
 
 
 
 
 
 
 
 
Derivative instruments:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
72.1

 
$
27.9

 
$

 
$
100.0

Foreign currency contracts
 
$

 
$
24.4

 
$

 
$
24.4

Liabilities:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
(35.6
)
 
$
(78.0
)
 
$

 
$
(113.6
)
Foreign currency contracts
 
$

 
$
(8.8
)
 
$

 
$
(8.8
)
Interest rate contracts
 
$

 
$
(3.7
)
 
$

 
$
(3.7
)
Non-qualified supplemental postretirement grantor trust investments (a)
 
$
38.0

 
$

 
$

 
$
38.0

September 30, 2018:
 
 
 
 
 
 
 
 
Derivative instruments:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
93.5

 
$
117.5

 
$

 
$
211.0

Foreign currency contracts
 
$

 
$
20.6

 
$

 
$
20.6

Cross-currency contracts
 
$

 
$
0.9

 
$

 
$
0.9

Liabilities:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
(33.6
)
 
$
(9.8
)
 
$

 
$
(43.4
)
Foreign currency contracts
 
$

 
$
(14.4
)
 
$

 
$
(14.4
)
Interest rate contracts
 
$

 
$
(1.0
)
 
$

 
$
(1.0
)
Non-qualified supplemental postretirement grantor trust investments (a)
 
$
40.8

 
$

 
$

 
$
40.8

December 31, 2017:
 
 
 
 
 
 
 
 
Derivative instruments:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
47.9

 
$
71.7

 
$

 
$
119.6

Foreign currency contracts
 
$

 
$
11.6

 
$

 
$
11.6

Liabilities:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
(31.0
)
 
$
(13.5
)
 
$

 
$
(44.5
)
Foreign currency contracts
 
$

 
$
(39.9
)
 
$

 
$
(39.9
)
Interest rate contracts
 
$

 
$
(2.1
)
 
$

 
$
(2.1
)
Cross-currency contracts
 
$

 
$
(0.9
)
 
$

 
$
(0.9
)
Non-qualified supplemental postretirement grantor trust investments (a)
 
$
37.7

 
$

 
$

 
$
37.7


(a)
Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans (see Note 12.)
Schedule of Carrying Amount and Estimated Fair Value of Long-term Debt
The carrying amount and estimated fair value of our long-term debt (including current maturities but excluding unamortized debt issuance costs) at December 31, 2018, September 30, 2018 and December 31, 2017 were as follows:
 
December 31, 2018
 
September 30, 2018
 
December 31, 2017
Carrying amount
$
4,211.0

 
$
4,199.4

 
$
4,319.5

Estimated fair value
$
3,970.8

 
$
4,150.3

 
$
4,430.0