XML 82 R35.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value Measurements (Tables)
 3 Months Ended
Dec. 31, 2019
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:
 
 
Asset (Liability)
 
 
Level 1
 
Level 2
 
Level 3
 
Total
December 31, 2019:
 
 
 
 
 
 
 
 
Derivative instruments:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
26.6

 
$
20.5

 
$
—

 
$
47.1

Foreign currency contracts
 
$
—

 
$
39.9

 
$
—

 
$
39.9

Interest rate contracts
 
$
—

 
$
2.7

 
$
—

 
$
2.7

Liabilities:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
(76.6
)
 
$
(110.2
)
 
$
—

 
$
(186.8
)
Foreign currency contracts
 
$
—

 
$
(4.4
)
 
$
—

 
$
(4.4
)
Interest rate contracts
 
$
—

 
$
(6.9
)
 
$
—

 
$
(6.9
)
Non-qualified supplemental postretirement grantor trust investments (a)
 
$
42.1

 
$
—

 
$
—

 
$
42.1

September 30, 2019:
 
 
 
 
 
 
 
 
Derivative instruments:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
32.0

 
$
10.1

 
$
—

 
$
42.1

Foreign currency contracts
 
$
—

 
$
59.0

 
$
—

 
$
59.0

Liabilities:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
(62.3
)
 
$
(112.7
)
 
$
—

 
$
(175.0
)
Foreign currency contracts
 
$
—

 
$
(4.3
)
 
$
—

 
$
(4.3
)
Interest rate contracts
 
$
—

 
$
(12.3
)
 
$
—

 
$
(12.3
)
Non-qualified supplemental postretirement grantor trust investments (a)
 
$
39.7

 
$
—

 
$
—

 
$
39.7

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


(a)
Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans (see Note 11)
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) were as follows:
 
December 31, 2019
 
September 30, 2019
 
December 31, 2018
Carrying amount
$
5,905.8

 
$
5,856.6

 
$
4,211.0

Estimated fair value
$
6,248.9

 
$
6,189.3

 
$
3,970.8