Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2023

Schedule of Financial Assets and Liabilities 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
March 31, 2023:
Derivative instruments:
Assets:
Commodity contracts	$	229	$	145	$	—	$	374
Foreign currency contracts	$	—	$	23	$	—	$	23
Interest rate contracts	$	—	$	25	$	—	$	25

Liabilities:
Commodity contracts	$	(294)	$	(138)	$	—	$	(432)
Foreign currency contracts	$	—	$	(4)	$	—	$	(4)
Interest rate contracts	$	—	$	(21)	$	—	$	(21)

Non-qualified supplemental postretirement grantor trust investments (a)	$	31	$	—	$	—	$	31
September 30, 2022:
Derivative instruments:
Assets:
Commodity contracts (b)	$	938	$	1,268	$	27	$	2,233
Foreign currency contracts	$	—	$	119	$	—	$	119
Interest rate contracts	$	—	$	66	$	—	$	66

Liabilities:
Commodity contracts (b)	$	(377)	$	(136)	$	—	$	(513)
Foreign currency contracts	$	—	$	(2)	$	—	$	(2)


Non-qualified supplemental postretirement grantor trust investments (a)	$	43	$	—	$	—	$	43
March 31, 2022:
Derivative instruments:
Assets:
Commodity contracts	$	823	$	1,146	$	—	$	1,969
Foreign currency contracts	$	—	$	35	$	—	$	35
Interest rate contracts	$	—	$	31	$	—	$	31

Liabilities:
Commodity contracts	$	(308)	$	(13)	$	—	$	(321)
Foreign currency contracts	$	—	$	(2)	$	—	$	(2)
Interest rate contracts	$	—	$	(1)	$	—	$	(1)

Non-qualified supplemental postretirement grantor trust investments (a)	$	50	$	—	$	—	$	50

(a)Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans.

(b)Includes derivative assets and liabilities held-for-sale associated with the October 2022 sale of the U.K. energy marketing business (see Note 5).

Schedule of Carrying Amount and Estimated Fair Value of Long-term Debt

The carrying amounts and estimated fair values of our long-term debt (including current maturities but excluding unamortized debt issuance costs) were as follows:


	March 31, 2023		September 30, 2022		March 31, 2022
Carrying amount	$	6,805	$	6,665	$	6,559
Estimated fair value	$	6,480	$	6,189	$	6,543