Retirement Benefits (Tables)

12 Months Ended

Sep. 30, 2026

Schedule of Net Periodic Benefit Cost (Income)

The components of net periodic benefit cost were (in millions):


	Pension Benefits						Other Postretirement Benefits
	2026		2025		2024		2026		2025		2024
Service cost	$	38	$	41	$	37	$	1	$	1	$	1
Interest cost	137		136		147		2		2		3
Expected return on plan assets	(170)		(167)		(170)		—		—		—
Amortization of net actuarial loss (gain)	16		27		(1)		2		2		1
Settlement and curtailment charges	11		1		—		—		—		—
Net periodic benefit cost	$	32	$	38	$	13	$	5	$	5	$	5

Schedule of Assumptions Used

Significant assumptions used in determining net periodic benefit cost were (in weighted averages):


	Pension Benefits						Other Postretirement Benefits
	2026		2025		2024		2026		2025		2024
U.S. Plans
Discount rate	5.35	%	5.10	%	6.10	%	5.05	%	4.91	%	5.95	%
Expected return on plan assets	7.00	%	7.00	%	7.00	%	—		—		—
Compensation increase rate	3.50	%	3.60	%	3.60	%	—		—		—
Non-U.S. Plans
Discount rate	4.07	%	3.87	%	4.65	%	4.45	%	4.45	%	5.75	%
Expected return on plan assets	5.31	%	5.24	%	5.13	%	—		—		—
Compensation increase rate	2.85	%	3.22	%	3.24	%	—		—		—

Significant assumptions used in determining the benefit obligations were (in weighted averages):


	Pension Benefits				Other Postretirement Benefits
	2026		2025		2026		2025
U.S. Plans
Discount rate	6.70	%	5.35	%	6.30	%	5.07	%
Compensation increase rate	3.50	%	3.50	%	—		—
Health care cost trend rate (1)	—		—		9.11	%	7.53	%
Non-U.S. Plans
Discount rate	4.84	%	4.07	%	5.30	%	4.45	%
Compensation increase rate	2.88	%	2.85	%	—		—
Health care cost trend rate (1)	—		—		4.50	%	4.50	%

(1) The health care cost trend rate reflects the estimated increase in gross medical claims costs. As a result of the plan amendment adopted effective October 1, 2002, our effective per person retiree medical cost increase is zero percent beginning in 2005 for the majority of our postretirement benefit plans. For our other plans, we assume the gross health care cost trend rate will increase to 9.11 percent in 2027 and subsequently decrease to the expected terminal rate of 5.00 percent in 2035 for U.S. Plans and will not change in future periods for Non-U.S. Plans.

Schedule of Net Funded Status

Benefit obligation, plan assets, funded status, and net liability information is summarized as follows (in millions):


	Pension Benefits				Other Postretirement Benefits
	2026		2025		2026		2025
Benefit obligation at beginning of year	$	2,931	$	3,078	$	41	$	45
Service cost	38		41		1		1
Interest cost	137		136		2		2
Actuarial (gains) losses	(297)		(123)		3		4


Plan participant contributions	2		2		6		5
Benefits paid	(161)		(208)		(15)		(15)
Settlements and curtailments	(299)		(5)		—		—

Divestiture	—		—		(2)		—
Currency translation and other	(21)		10		—		(1)
Benefit obligation at end of year	2,330		2,931		36		41
Plan assets at beginning of year	2,810		2,779		—		—
Actual return on plan assets	147		143		—		—
Company contributions	15		88		9		10
Plan participant contributions	2		2		6		5
Benefits paid	(161)		(208)		(15)		(15)
Settlements and curtailments	(299)		(4)		—		—
Currency translation and other	(26)		10		—		—
Plan assets at end of year	2,488		2,810		—		—
Funded status of plans	$	158	$	(121)	$	(36)	$	(41)

Schedule of Amounts Recognized in Balance Sheet


Net amount on balance sheet consists of
Other assets	$	435	$	222	$	—	$	—
Compensation and benefits	(20)		(20)		(6)		(6)
Retirement benefits	(257)		(323)		(30)		(35)
Net amount on balance sheet	$	158	$	(121)	$	(36)	$	(41)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Amounts included in Accumulated other comprehensive loss, net of tax, which have not yet been recognized in net periodic benefit cost are as follows (in millions):


	Pension Benefits				Other Postretirement Benefits
	2026		2025		2026		2025
Prior service (credit) cost	$	(164)	$	(154)	$	4	$	4
Net actuarial loss	255		475		11		10
Total	$	91	$	321	$	15	$	14

Schedule of Accumulated and Projected Benefit Obligations

Information regarding our pension plans with projected benefit obligations in excess of the fair value of plan assets (underfunded plans) are as follows (in millions):


	2026		2025
Projected benefit obligation	$	300	$	2,185
Fair value of plan assets	22		1,842

Information regarding our pension plans with accumulated benefit obligations in excess of the fair value of plan assets (underfunded plans) are as follows (in millions):


	2026		2025
Accumulated benefit obligation	$	231	$	274
Fair value of plan assets	2		9

Schedule of Expected Benefit Payments

The following benefit payments, which include employees’ expected future service, as applicable, are expected to be paid (in millions):


	Pension Benefits		Other Postretirement Benefits
2027	$	223	$	6
2028	216		5
2029	212		5
2030	210		4
2031	215		4
2032-2036	1,003		14

Schedule of Weighted Average Allocation of Plan Assets

Our global weighted average targeted and actual asset allocations at September 30, by asset category, are:


	Target	September 30,
Asset Category	Allocations	2026	2025
Equity securities	32%	36%	45%
Debt securities	54%	55%	46%
Other	14%	9%	9%

Schedule of Allocation of Plan Assets

The following table presents our pension plans’ investments measured at fair value as of September 30, 2026 (in millions):


	Level 1		Level 2		Level 3		Total
U.S. Plans
Cash and cash equivalents	$	44	$	—	$	—	$	44
Equity securities

Preferred and common stock	303		—		—		303
Common collective trusts	—		231		—		231
Fixed income securities
Preferred and corporate debt	—		499		—		499
Government securities	285		19		—		304
Common collective trusts	—		117		—		117


Total U.S. Plans investments in fair value hierarchy	$	632	$	866	$	—	1,498
U.S. Plans investments measured at NAV
Private equity and alternative equity							7

Total U.S. Plans investments							1,505
Non-U.S. Plans
Cash and cash equivalents	$	10	$	—	$	—	$	10
Equity securities
Preferred and common stock	163		—		—		163
Common collective trusts	—		204		—		204
Fixed income securities
Preferred and corporate debt	—		68		—		68
Government securities	—		—		—		—
Common collective trusts	—		386		—		386
Other types of investments
Real estate funds	—		61		—		61
Insurance contracts	—		—		66		66
Other	—		—		2		2
Total Non-U.S. Plans investments in fair value hierarchy	$	173	$	719	$	68	$	960
Non-U.S. Plans investments measured at NAV
Real estate funds							23
Total Non-U.S. Plans investments							983
Total investments measured at fair value							$	2,488

The following table presents our pension plans’ investments measured at fair value as of September 30, 2025 (in millions):


	Level 1		Level 2		Level 3		Total
U.S. Plans
Cash and cash equivalents	$	88	$	—	$	—	$	88
Equity securities

Preferred and common stock	419		—		—		419
Common collective trusts	—		415		—		415
Fixed income securities
Preferred and corporate debt	—		478		—		478
Government securities	265		30		—		295
Common collective trusts	—		120		—		120


Total U.S. Plans investments in fair value hierarchy	$	772	$	1,043	$	—	1,815
U.S. Plans investments measured at NAV
Private equity and alternative equity							6

Total U.S. Plans investments							1,821
Non-U.S. Plans
Cash and cash equivalents	$	8	$	—	$	—	$	8
Equity securities
Preferred and common stock	200		—		—		200
Common collective trusts	—		218		—		218
Fixed income securities
Preferred and corporate debt	—		79		—		79
Government securities	1		—		—		1
Common collective trusts	—		327		—		327
Other types of investments
Real estate funds	—		60		—		60
Insurance contracts	—		—		73		73
Other	—		—		1		1
Total Non-U.S. Plans investments in fair value hierarchy	$	209	$	684	$	74	967
Non-U.S. Plans investments measured at NAV
Real estate funds							23
Total Non-U.S. Plans investments							989
Total investments measured at fair value							$	2,810

Defined Benefit Plan Change in Fair Value of Plan Assets Level Three

The table below sets forth a summary of changes in fair market value of our pension plans’ Level 3 assets for the year ended September 30, 2026 (in millions):


	Balance October 1, 2025		Realized Gains (Losses)		Unrealized Gains (Losses)		Purchases, Sales, Issuances, and Settlements, Net		Balance September 30, 2026


Non-U.S. Plans
Insurance contracts	$	73	$	—	$	(6)	$	(1)	$	66
Other	1		—		—		1		2
	$	74	$	—	$	(6)	$	—	$	68

The table below sets forth a summary of changes in fair market value of our pension plans’ Level 3 assets for the year ended September 30, 2025 (in millions):


	Balance October 1, 2024		Realized Gains (Losses)		Unrealized Gains (Losses)		Purchases, Sales, Issuances, and Settlements, Net		Balance September 30, 2025


Non-U.S. Plans
Insurance contracts	$	72	$	—	$	2	$	(1)	$	73
Other	2		—		—		(1)		1
	$	74	$	—	$	2	$	(2)	$	74