Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Oct. 31, 2013 | Mar. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'BDX | ' | ' |
Entity Registrant Name | 'BECTON DICKINSON & CO | ' | ' |
Entity Central Index Key | '0000010795 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 194,094,466 | ' |
Entity Public Float | ' | ' | $18,537,729,489 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Operations | ' | ' | ' |
Revenues | $8,054 | $7,708 | $7,584 |
Cost of products sold | 3,883 | 3,755 | 3,625 |
Selling and administrative expense | 2,422 | 1,923 | 1,824 |
Research and development expense | 494 | 472 | 470 |
Total Operating Costs and Expenses | 6,800 | 6,150 | 5,918 |
Operating Income | 1,254 | 1,558 | 1,666 |
Interest expense | -138 | -135 | -84 |
Interest income | 40 | 50 | 43 |
Other income (expense), net | 9 | -1 | -7 |
Income From Continuing Operations Before Income Taxes | 1,165 | 1,472 | 1,618 |
Income tax provision | 236 | 363 | 417 |
Income from Continuing Operations | 929 | 1,110 | 1,201 |
Income from Discontinued Operations Net of income tax provision of $222 in 2013, $31 in 2012 and $35 in 2011 | 364 | 60 | 70 |
Net Income | $1,293 | $1,170 | $1,271 |
Basic Earnings per Share | ' | ' | ' |
Income from Continuing Operations | $4.76 | $5.40 | $5.43 |
Income from Discontinued Operations | $1.86 | $0.29 | $0.32 |
Basic Earnings per Share | $6.63 | $5.69 | $5.75 |
Diluted Earnings per Share | ' | ' | ' |
Income from Continuing Operations | $4.67 | $5.30 | $5.31 |
Income from Discontinued Operations | $1.83 | $0.29 | $0.31 |
Diluted Earnings per Share | $6.49 | $5.59 | $5.62 |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Income tax provision | $222 | $31 | $35 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net Income | $1,293 | $1,170 | $1,271 |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' |
Foreign currency translation adjustments | 23 | -18 | -117 |
Defined benefit pension and postretirement plans | 257 | -118 | -62 |
Unrealized gains (losses) on cash flow hedges, net of amounts realized | 7 | 5 | -33 |
Other Comprehensive Income (Loss), Net of Tax | 286 | -132 | -212 |
Comprehensive Income | $1,579 | $1,038 | $1,059 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and equivalents | $1,890 | $1,671 |
Short-term investments | 718 | 510 |
Trade receivables, net | 1,240 | 1,250 |
Inventories | 1,402 | 1,241 |
Prepaid expenses, deferred taxes and other | 623 | 515 |
Assets held for sale | ' | 136 |
Total Current Assets | 5,873 | 5,322 |
Property, Plant and Equipment, Net | 3,476 | 3,304 |
Goodwill | 1,109 | 1,076 |
Core and Developed Technology, Net | 541 | 512 |
Other Intangibles, Net | 293 | 301 |
Capitalized Software, Net | 371 | 346 |
Other Assets | 487 | 500 |
Total Assets | 12,149 | 11,361 |
Current Liabilities | ' | ' |
Short-term debt | 207 | 405 |
Accounts payable | 333 | 350 |
Accrued expenses | 1,067 | 741 |
Salaries, wages and related items | 504 | 478 |
Income taxes | 19 | 4 |
Total Current Liabilities | 2,130 | 1,978 |
Long-Term Debt | 3,763 | 3,761 |
Long-Term Employee Benefit Obligations | 805 | 1,224 |
Deferred Income Taxes and Other | 408 | 262 |
Commitments and Contingencies | ' | ' |
Shareholders' Equity | ' | ' |
Common stock - $1 par value: authorized - 640,000,000 shares; issued - 332,662,160 shares in 2013 and 2012 | 333 | 333 |
Capital in excess of par value | 2,068 | 1,920 |
Retained earnings | 11,342 | 10,435 |
Deferred compensation | 19 | 19 |
Common stock in treasury - at cost - 138,663,113 shares in 2013 and 135,751,039 shares in 2012 | -8,204 | -7,769 |
Accumulated other comprehensive loss | -516 | -802 |
Total Shareholders' Equity | 5,043 | 4,136 |
Total Liabilities and Shareholders' Equity | $12,149 | $11,361 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 640,000,000 | 640,000,000 |
Common stock, shares issued | 332,662,160 | 332,662,160 |
Common stock in treasury, shares | 138,663,113 | 135,751,039 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Operating Activities | ' | ' | ' |
Net Income | $1,293 | $1,170 | $1,271 |
Less: Income from discontinued operations, net | 364 | 60 | 70 |
Income from continuing operations, net | 929 | 1,110 | 1,201 |
Adjustments to income from continuing operations to derive net cash provided by continuing operating activities, net of amounts acquired: | ' | ' | ' |
Depreciation and amortization | 546 | 511 | 494 |
Share-based compensation | 100 | 89 | 73 |
Deferred income taxes | 36 | 22 | 30 |
Change in operating assets and liabilities: | ' | ' | ' |
Trade receivables, net | -1 | -30 | -27 |
Inventories | -145 | -92 | -117 |
Prepaid expenses, deferred taxes and other | -60 | 102 | -239 |
Accounts payable, income taxes and other liabilities | 366 | 17 | 129 |
Pension obligation | -51 | -38 | 81 |
Other, net | -1 | 4 | 13 |
Net Cash Provided by Continuing Operating Activities | 1,717 | 1,693 | 1,638 |
Investing Activities | ' | ' | ' |
Capital expenditures | -522 | -487 | -509 |
Capitalized software | -66 | -66 | -90 |
Change in short-term investments | -225 | -138 | 122 |
Acquisitions of businesses, net of cash acquired | -136 | -103 | -492 |
Divestiture of businesses | 736 | ' | ' |
Other, net | -99 | -99 | -64 |
Net Cash Used for Continuing Investing Activities | -311 | -894 | -1,033 |
Financing Activities | ' | ' | ' |
Change in short-term debt | -199 | 2 | 34 |
Proceeds from long-term debt | ' | 1,488 | 991 |
Payments of debt | ' | -42 | ' |
Repurchase of common stock | -450 | -1,500 | -1,500 |
Issuance of common stock and other, net | 44 | 35 | 84 |
Excess tax benefit from payments under share-based compensation plans | 23 | 15 | 37 |
Dividends paid | -386 | -368 | -361 |
Net Cash Used for Continuing Financing Activities | -968 | -370 | -714 |
Discontinued Operations: | ' | ' | ' |
Net cash (used for) provided by operating activities | -212 | 67 | 78 |
Net cash used for investing activities | ' | -6 | -7 |
Net Cash Provided by Discontinued Operations | -212 | 61 | 71 |
Effect of exchange rate changes on cash and equivalents | -7 | 6 | -3 |
Net Increase (Decrease) in Cash and Equivalents | 219 | 496 | -41 |
Opening Cash and Equivalents | 1,671 | 1,175 | 1,216 |
Closing Cash and Equivalents | $1,890 | $1,671 | $1,175 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 1 — Summary of Significant Accounting Policies | |
Basis of Presentation | |
The accompanying Consolidated Financial Statements and Notes to Consolidated Financial Statements of Becton, Dickinson and Company (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles. Within the financial statements and tables presented, certain columns and rows may not add due to the use of rounded numbers for disclosure purposes. Percentages and earnings per share amounts presented are calculated from the underlying whole-dollar amounts. | |
Principles of Consolidation | |
The consolidated financial statements include the Company’s accounts and those of its majority-owned subsidiaries after the elimination of intercompany transactions. The Company has no material interests in variable interest entities. | |
Cash Equivalents | |
Cash equivalents consist of all highly liquid investments with a maturity of three months or less at time of purchase. | |
Short-Term Investments | |
Short-term investments consist of time deposits with maturities greater than three months and less than one year when purchased. | |
Inventories | |
Inventories are stated at the lower of first-in, first-out cost or market. | |
Property, Plant and Equipment | |
Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are principally provided on the straight-line basis over estimated useful lives, which range from 20 to 45 years for buildings, four to 13 years for machinery and equipment and one to 12 years for leasehold improvements. Depreciation and amortization expense was $338 million, $321 million and $340 million in fiscal years 2013, 2012 and 2011, respectively. | |
Goodwill and Other Intangible Assets | |
The Company’s unamortized intangible assets include goodwill and in-process research and development assets which arise from acquisitions. The Company currently reviews all indefinite-lived assets, including goodwill, for impairment using quantitative models. Goodwill is reviewed at least annually for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. The Company’s reporting units generally represent one level below reporting segments, and components within an operating segment that have similar economic characteristics are aggregated. Potential impairment of goodwill is identified by comparing the fair value of a reporting unit, estimated using an income approach, with its carrying value. The annual impairment review performed in fiscal year 2013 indicated that all identified reporting units’ fair values exceeded their respective carrying values. | |
The review for impairment of in-process research and development assets is performed by comparing the fair value of the technology or project assets, estimated using an income approach, with their carrying value. In-process research and development assets are considered indefinite-lived assets and are reviewed at least annually for impairment until projects are completed or abandoned. Certain trademarks that are considered to generate cash flows indefinitely are also considered to be indefinite-lived intangible assets and these assets are also reviewed at least annually for impairment. | |
Amortized intangible assets include core and developed technology assets which arise from acquisitions. These assets represent acquired intellectual property that is already technologically feasible upon the acquisition date or acquired in-process research and development assets that are completed subsequent to acquisition. Core and developed technology assets are generally amortized over periods ranging from 15 to 20 years, using the straight-line method. Other intangibles with finite useful lives, which include patents, are amortized over periods principally ranging from one to 40 years, using the straight-line method. Finite-lived intangible assets, including core and developed technology assets, are periodically reviewed when impairment indicators are present to assess recoverability from future operations using undiscounted cash flows. The carrying values of these finite-lived assets are compared to the undiscounted cash flows they are expected to generate and an impairment loss is recognized in operating results to the extent any finite-lived intangible asset’s carrying value exceeds its calculated fair value. | |
Capitalized Software | |
Capitalized software, including costs for software developed or obtained for internal use, is stated at cost, less accumulated amortization. Amortization expense is principally provided on the straight-line basis over estimated useful lives, which do not exceed 10 years. The current balance largely includes capital software investments related to a global enterprise resource planning initiative to upgrade the Company’s business information systems. Amortization for this project commenced in the third quarter of fiscal year 2012. Amortization expense related to capitalized software was $38 million, $36 million and $23 million for 2013, 2012 and 2011, respectively. | |
Foreign Currency Translation | |
Generally, foreign subsidiaries’ functional currency is the local currency of operations and the net assets of foreign operations are translated into U.S. dollars using current exchange rates. The U.S. dollar results that arise from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the foreign currency translation adjustments in Accumulated other comprehensive (loss) income. | |
Revenue Recognition | |
Revenue from product sales is typically recognized when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; product price is fixed or determinable; collection of the resulting receivable is reasonably assured. The Company recognizes revenue for certain instruments sold from the Biosciences segment upon installation at a customer’s site, as installation of these instruments is considered a significant post-delivery obligation. For certain instrument sales arrangements, primarily in the U.S., with multiple deliverables, revenue and cost of products sold are recognized at the completion of each deliverable: instrument shipment, installation and training. Installation and training typically occur within one month after an instrument is shipped. These sales agreements are divided into separate units of accounting and revenue is recognized upon the completion of each deliverable based on its relative selling price. The relative selling prices of installation and training are determined based on the prices at which these deliverables would be regularly sold on a standalone basis. The relative selling prices of instruments are based on estimated selling prices. These estimates represent the quoted sales contract price in each arrangement. | |
The Company’s domestic businesses sell products primarily to distributors that resell the products to end-user customers. Rebates are provided to distributors that sell to end-user customers at prices determined under a contract between the Company and the end-user customer. Provisions for rebates, as well as sales discounts and returns, are based upon estimates and are accounted for as a reduction of revenues when revenue is recognized. | |
Shipping and Handling Costs | |
Shipping and handling costs are included in Selling and administrative expense. Shipping expense was $285 million, $281 million and $269 million in 2013, 2012 and 2011, respectively. | |
Derivative Financial Instruments | |
All derivatives are recorded in the balance sheet at fair value and changes in fair value are recognized currently in earnings unless specific hedge accounting criteria are met. | |
From time to time, derivative financial instruments are utilized by the Company in the management of its foreign currency, interest rate and commodity price exposures. The Company periodically purchases forward contracts and options to hedge certain forecasted transactions that are denominated in foreign currencies in order to partially protect against a reduction in the value of future earnings resulting from adverse foreign exchange rate movements. The Company also periodically utilizes interest rate swaps to maintain a balance between fixed and floating rate instruments. Additionally, the Company has managed price risks associated with resin purchase costs through commodity derivative forward contracts. The Company does not enter into derivative financial instruments for trading or speculative purposes. | |
Any deferred gains or losses associated with derivative instruments are recognized in income in the period in which the underlying hedged transaction is recognized. In the event a designated hedged item is sold, extinguished or matures prior to the termination of the related derivative instrument, such instrument would be closed and the resultant gain or loss would be recognized in income. | |
Income Taxes | |
United States income taxes are not provided on undistributed earnings of foreign subsidiaries where such undistributed earnings are indefinitely reinvested outside the United States. Deferred taxes are provided for earnings of foreign subsidiaries when those earnings are not considered indefinitely reinvested. Income taxes are provided and tax credits are recognized based on tax laws enacted at the dates of the financial statements. | |
The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress in a number of tax jurisdictions. In evaluating the exposure associated with various tax filing positions, the Company records accruals for uncertain tax positions, based on the technical support for the positions, past audit experience with similar situations, and the potential interest and penalties related to the matters. | |
The Company maintains valuation allowances where it is more likely than not that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances are included in the tax provision in the period of change. In determining whether a valuation allowance is warranted, management evaluates factors such as prior earnings history, expected future earnings, carryback and carryforward periods and tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset. | |
Earnings per Share | |
Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. | |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions. These estimates or assumptions affect reported assets, liabilities, revenues and expenses as reflected in the consolidated financial statements. Actual results could differ from these estimates. | |
Share-Based Compensation | |
The Company recognizes the fair value of share-based compensation in net income. Compensation expense is recognized on a straight-line basis over the requisite service period, which is generally the vesting period. |
Accounting_Changes
Accounting Changes | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Accounting Changes | ' |
Note 2 — Accounting Changes | |
Change in Accounting Principles | |
In July 2012, the FASB amended the impairment testing requirements for indefinite-lived intangible assets to allow entities the option to qualitatively assess indefinite-lived intangible assets for impairment. Further testing of indefinite-lived intangible assets for impairment under the traditional quantitative model is only required if an entity determines, through the qualitative assessment, that it is more likely than not that the carrying amount of an indefinite-lived intangible asset exceeds its fair value. The revised impairment testing requirements are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company adopted the revised requirements, which did not impact its consolidated financial statements, for its fiscal year 2013 indefinite-lived intangible asset impairment review processes. | |
In February 2013, the Financial Accounting Standards Board issued guidance to expand the reporting requirements for amounts reclassified out of accumulated other comprehensive income. These requirements are effective, on a prospective basis, for all reporting periods beginning after December 15, 2012. The Company adopted the revised presentation requirements, which did not impact the recognition of items in its consolidated financial statements, on March 31, 2013. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Shareholders' Equity | ' | ||||||||||||||||||||||||
Note 3 — Shareholders’ Equity | |||||||||||||||||||||||||
Changes in certain components of shareholders’ equity were as follows: | |||||||||||||||||||||||||
Common | Capital in | Retained | Deferred | Treasury Stock | |||||||||||||||||||||
Stock Issued | Excess of | Earnings | Compensation | ||||||||||||||||||||||
at Par Value | Par Value | Shares (in | Amount | ||||||||||||||||||||||
thousands) | |||||||||||||||||||||||||
Balance at September 30, 2010 | $ | 333 | $ | 1,625 | $ | 8,724 | $ | 17 | (102,846 | ) | $ | (4,806 | ) | ||||||||||||
Net income | 1,271 | ||||||||||||||||||||||||
Cash dividends: | |||||||||||||||||||||||||
Common ($1.64 per share) | (362 | ) | |||||||||||||||||||||||
Common stock issued for: | |||||||||||||||||||||||||
Share-based compensation plans, net | 95 | 3,432 | 28 | ||||||||||||||||||||||
Share-based compensation | 73 | ||||||||||||||||||||||||
Common stock held in trusts, net | 2 | 3 | (2 | ) | |||||||||||||||||||||
Repurchase of common stock | (18,434 | ) | (1,500 | ) | |||||||||||||||||||||
Balance at September 30, 2011 | $ | 333 | $ | 1,793 | $ | 9,634 | $ | 19 | (117,844 | ) | $ | (6,280 | ) | ||||||||||||
Net income | 1,170 | ||||||||||||||||||||||||
Cash dividends: | |||||||||||||||||||||||||
Common ($1.80 per share) | (368 | ) | |||||||||||||||||||||||
Common stock issued for: | |||||||||||||||||||||||||
Share-based compensation plans, net | 39 | 1,973 | 11 | ||||||||||||||||||||||
Share-based compensation | 88 | ||||||||||||||||||||||||
Common stock held in trusts, net | 66 | ||||||||||||||||||||||||
Repurchase of common stock | (19,945 | ) | (1,500 | ) | |||||||||||||||||||||
Balance at September 30, 2012 | $ | 333 | $ | 1,920 | $ | 10,435 | $ | 19 | (135,751 | ) | $ | (7,769 | ) | ||||||||||||
Net income | 1,293 | ||||||||||||||||||||||||
Cash dividends: | |||||||||||||||||||||||||
Common ($1.98 per share) | (386 | ) | |||||||||||||||||||||||
Common stock issued for: | |||||||||||||||||||||||||
Share-based compensation plans, net | 50 | 2,537 | 15 | ||||||||||||||||||||||
Share-based compensation | 98 | ||||||||||||||||||||||||
Common stock held in trusts, net | 36 | ||||||||||||||||||||||||
Repurchase of common stock | (5,485 | ) | (450 | ) | |||||||||||||||||||||
Balance at September 30, 2013 | $ | 333 | $ | 2,068 | $ | 11,342 | $ | 19 | (138,663 | ) | $ | (8,204 | ) | ||||||||||||
Common stock held in trusts represents rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan. | |||||||||||||||||||||||||
The components and changes of Accumulated other comprehensive (loss) income were as follows: | |||||||||||||||||||||||||
Total | Foreign | Benefit Plans | Unrealized | ||||||||||||||||||||||
Currency | Adjustments(A) | Losses on | |||||||||||||||||||||||
Translation | Cash Flow | ||||||||||||||||||||||||
Adjustments | Hedges(B) | ||||||||||||||||||||||||
Balance at September 30, 2012 | $ | (802 | ) | $ | 51 | $ | (815 | ) | $ | (38 | ) | ||||||||||||||
Other comprehensive income before reclassifications | 228 | 23 | 203 | 2 | |||||||||||||||||||||
Amounts reclassified into income(C) | 59 | — | 54 | 4 | |||||||||||||||||||||
Balance at September 30, 2013 | $ | (516 | ) | $ | 74 | $ | (558 | ) | $ | (31 | ) | ||||||||||||||
(A) | The reclassifications from accumulated other comprehensive income (loss) are included in the computation of net periodic pension cost and additional details are provided in Note 8. The reclassification amounts for the fiscal years ended September 30, 2012 and 2011 were $40 million and $43 million, respectively. Amounts are net of taxes. | ||||||||||||||||||||||||
(B) | The reclassification amounts for the fiscal years ended September 30, 2012 and 2011 were $5 million and $1 million, respectively. Additional details regarding the reclassifications from accumulated other comprehensive income (loss) related to cash flow hedges are provided in Note 12. Amounts are net of taxes. | ||||||||||||||||||||||||
(C) | The benefit plan-related amount is not reclassified into income in its entirety. The reclassification amount for cash flow hedges consists of $5 million related to interest rate swaps that was recorded in Interest expense and $(1) million related to commodity forward contracts that was recorded in Costs of products sold. | ||||||||||||||||||||||||
The gain in foreign currency translation adjustments for the fiscal year ended September 30, 2013 was primarily attributable to the strengthening of the Euro against the U.S. dollar, partially offset by the weakening of currencies in Latin America and Asia Pacific, as well as the weakening of the Yen, against the U.S. dollar during the period. Foreign currency translation adjustments that were attributable to goodwill in fiscal years 2013 and 2012 were $6 million and $14 million, respectively. The adjustments primarily affected goodwill reported within the Medical segment. | |||||||||||||||||||||||||
The income tax provision (benefit) for net gains (losses) recorded in other comprehensive income for defined benefit pension, postretirement plans and postemployment plans in fiscal years 2013, 2012 and 2011 was $121 million, $(151) million and $(71) million, respectively. The income tax benefit associated with the benefit plan-related reclassification adjustments for amortization of prior service credit and amortization of net actuarial losses for the fiscal years ended September 30, 2013, 2012 and 2011 were $30 million, $23 million and $24 million, respectively. | |||||||||||||||||||||||||
The income tax provision recorded in fiscal year 2013 for net unrealized gains on cash flow hedges was $1 million and the income tax benefit recorded for unrealized losses on cash flow hedges was $21 million in fiscal year 2011. The income tax impact related to net unrealized losses in fiscal year 2012 was immaterial. The tax benefit associated with the reclassification adjustments for realized hedge losses in fiscal years 2013, 2012 and 2011 was $3 million, $3 million and $1 million, respectively. |
Earnings_per_Share
Earnings per Share | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings per Share | ' | ||||||||||||
Note 4 — Earnings per Share | |||||||||||||
The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) for the years ended September 30 were as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Average common shares outstanding | 195,157 | 205,460 | 221,175 | ||||||||||
Dilutive share equivalents from share-based plans | 4,036 | 3,721 | 5,105 | ||||||||||
Average common and common equivalent shares outstanding — assuming dilution | 199,193 | 209,181 | 226,280 | ||||||||||
Options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when their inclusion would have an anti-dilutive effect on the calculation. For the year ended September 30, 2013, there were no options to purchase shares of common stock, which were excluded from the diluted earnings per share calculation. Options to purchase 4.8 million shares and 1.2 million shares of the Company’s common stock were excluded from the calculation of diluted earnings per share in 2012 and 2011, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Sep. 30, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
Note 5 — Commitments and Contingencies | |||||
Commitments | |||||
Rental expense for all operating leases amounted to $70 million in 2013, $66 million in 2012 and $69 million in 2011. Future minimum rental commitments on noncancelable leases are as follows: 2014 — $52 million; 2015 — $43 million; 2016 — $32 million; 2017 — $23 million; 2018 — $23 million and an aggregate of $27 million thereafter. | |||||
As of September 30, 2013, the Company has certain future purchase commitments aggregating to approximately $546 million, which will be expended over the next several years. | |||||
Contingencies | |||||
Given the uncertain nature of litigation generally, the Company is not able in all cases to estimate the amount or range of loss that could result from an unfavorable outcome of the litigation to which the Company is a party. In accordance with U.S. generally accepted accounting principles, the Company establishes accruals to the extent probable future losses are estimable (in the case of environmental matters, without considering possible third-party recoveries). In view of the uncertainties discussed below, the Company could incur charges in excess of any currently established accruals and, to the extent available, excess liability insurance. In the opinion of management, any such future charges, individually or in the aggregate, could have a material adverse effect on the Company’s consolidated results of operations and consolidated cash flows. | |||||
The Company was named as a defendant in five purported class action suits brought on behalf of distributors and other entities that purchase the Company’s products (the “Distributor Plaintiffs”), alleging that the Company violated federal antitrust laws, resulting in the charging of higher prices for the Company’s products to the plaintiffs and other purported class members. These actions were consolidated under the caption “In re Hypodermic Products Antitrust Litigation.” Pursuant to a settlement agreement the Company entered into with the Distributor Plaintiffs in these actions on April 27, 2009 and following approval by the District Court (on a preliminarily basis in November 2012 and on a final basis in April 2013), the Company has paid $45 million in exchange for a release by all potential class members of the direct purchaser claims under federal antitrust laws related to the products and acts enumerated in the complaint, and a dismissal of the case with prejudice, insofar as it relates to direct purchaser claims. | |||||
The Company is also named as a defendant in the following purported class action suits brought on behalf of indirect purchasers of the Company’s products, such as hospitals and retailers (the “Hospital Plaintiffs”), alleging that the Company violated federal and state antitrust laws, resulting in the charging of higher prices for the Company’s products to the plaintiffs and other purported class members. | |||||
Case | Court | Date Filed | |||
Jabo’s Pharmacy, Inc., et. al. v. Becton Dickinson & Company | U.S. District Court, Greenville, Tennessee | 3-Jun-05 | |||
Drug Mart Tallman, Inc., et. al. v. Becton Dickinson and Company | U.S. District Court, Newark, New Jersey | January 17, 2006 | |||
Medstar v. Becton Dickinson | U.S. District Court, Newark, New Jersey | 18-May-06 | |||
The Hebrew Home for the Aged at Riverdale v. Becton Dickinson and Company | U.S. District Court, Southern District of New York | 28-Mar-07 | |||
The plaintiffs in each of the above antitrust class action lawsuits seek monetary damages. These antitrust class action lawsuits have been consolidated for pre-trial purposes in a Multi-District Litigation in Federal court in New Jersey. | |||||
On July 30, 2013, the Company entered into an agreement with the Hospital Plaintiffs to settle their claims in these actions, which agreement has been preliminarily approved and is subject to final approval by the court following notice to potential class members. The settlement agreement provides for the Company to pay $22 million into a fund in exchange for a release by all potential class members of the indirect purchaser claims related to the products and acts enumerated in the complaint, and a dismissal of the case with prejudice. The release will not cover potential class members that opt out of the settlement. The Company currently cannot estimate the range of reasonably possible losses with respect to these class action matters beyond the $22 million settlement. | |||||
In June 2007, Retractable Technologies, Inc. (“RTI”) filed a complaint against the Company under the caption Retractable Technologies, Inc. vs. Becton Dickinson and Company (Civil Action No. 2:07-cv-250, U.S. District Court, Eastern District of Texas). RTI alleges that the BD IntegraTM syringes infringe patents licensed exclusively to RTI. In its complaint, RTI also alleges that the Company engaged in false advertising with respect to certain of the Company’s safety-engineered products in violation of the Lanham Act; acted to exclude RTI from various product markets and to maintain its market share through, among other things, exclusionary contracts in violation of state and federal antitrust laws; and engaged in unfair competition. In January 2008, the court severed the patent and non-patent claims into separate cases, and stayed the non-patent claims during the pendency of the patent claims at the trial court level. RTI seeks money damages and injunctive relief. On April 1, 2008, RTI filed a complaint against BD under the caption Retractable Technologies, Inc. and Thomas J. Shaw v. Becton Dickinson and Company (Civil Action No.2:08-cv-141, U.S. District Court, Eastern District of Texas). RTI alleges that the BD IntegraTM syringes infringe another patent licensed exclusively to RTI. RTI seeks money damages and injunctive relief. On August 29, 2008, the court ordered the consolidation of the patent cases. On November 9, 2009, at a trial of these consolidated cases, the jury rendered a verdict in favor of RTI on all but one of its infringement claims, but did not find any willful infringement, and awarded RTI $5 million in damages. On May 19, 2010, the court granted RTI’s motion for a permanent injunction against the continued sale by the Company of its BD IntegraTM products in their current form, but stayed the injunction for the duration of the Company’s appeal. At the same time, the court lifted a stay of RTI’s non-patent claims. On July 8, 2011, the Court of Appeals for the Federal Circuit reversed the District Court judgment that the Company’s 3ml BD Integra™ products infringed the asserted RTI patents and affirmed the District Court judgment of infringement against the Company’s discontinued 1ml BD Integra™ products. On October 31, 2011, the Federal Circuit Court of Appeals denied RTI’s request for an en banc rehearing. In January 2013, RTI’s petition for review with the U.S. Supreme Court was denied. BD’s motion for further proceedings on damages was denied by the District Court on the grounds that the Court did not have authority to modify the $5 million damage award. BD has appealed this ruling to the Federal Circuit Court of Appeals. | |||||
On September 19, 2013, a jury returned a verdict against BD with respect to certain of RTI’s non-patent claims. The verdict was unfavorable to BD with respect to RTI’s Lanham Act claim and claim for attempted monopolization based on deception in the safety syringe market. The jury awarded RTI $113.5 million for its attempted monopolization claim (which will be trebled and attorneys’ fees added to under the antitrust statute). The Court will determine whether to award equitable relief under the Lanham Act including disgorgement. The jury’s verdict rejected RTI’s monopolization claims in the markets for safety syringes, conventional syringes and safety IV catheters; its attempted monopolization claims in the markets for conventional syringes and safety IV catheters; and its claims for contractual restraint of trade and exclusive dealing in the markets for safety syringes, conventional syringes and safety IV catheters. In connection with the verdict, the Company recorded a pre-tax charge of approximately $341 million in the fourth quarter of fiscal year 2013. The Company plans to appeal the jury’s verdict. | |||||
On November 4, 2013, the Secretariat of Foreign Trade (SECEX) of the Federal Republic of Brazil, initiated an administrative anti-dumping investigation of imports of vacuum plastic tubes for blood collection into Brazil from the United States of America, the United Kingdom of Great Britain and Northern Ireland, the Federal Republic of Germany and the People’s Republic of China during the period from January 2012 through December 2012. BD, through its United States and international subsidiaries, exports vacuum plastic tubes for blood collection into Brazil and is cooperating with the investigation. The investigation is expected to be completed by November 2014, but could extend longer. During the course of the investigation (on a provisional basis) and upon completion of the investigation (on a final basis), the SECEX will issue a decision on whether grounds exist to apply anti-dumping measures (including, without limitation, the imposition of duties on such vacuum plastic tubes imported into Brazil). Once applied, anti-dumping measures will last for as long as the measures are deemed necessary, which, in most cases, is for five years. The Company does not expect that the outcome of the investigation will materially affect results of operations. | |||||
The Company believes that it has meritorious defenses to each of the above-mentioned suits pending against the Company and is engaged in a vigorous defense of each of these matters. | |||||
The Company is also involved both as a plaintiff and a defendant in other legal proceedings and claims that arise in the ordinary course of business. | |||||
On October 19, 2009, Gen-Probe Incorporated (“Gen-Probe”) filed a patent infringement action against BD in the U.S. District Court for the Southern District of California. The complaint alleges that the BD Viper™ and BD Viper™ XTR™ systems and BD ProbeTec™ specimen collection products infringe certain U.S. patents of Gen-Probe. On March 23, 2010, Gen-Probe filed a complaint, also in the U.S. District Court for the Southern District of California, alleging that the BD MaxTM instrument infringes Gen-Probe patents. The patents alleged to be infringed are a subset of the Gen-Probe patents asserted against the Company in the October 2009 suit. On June 8, 2010, the court consolidated these cases. On December 1, 2012, the Company entered into a settlement agreement with Gen-Probe, under which the Company is granted a license to make, use and sell products accused of infringing Gen-Probe patents in the action. The payments that the Company made to Gen-Probe under the settlement, which include a settlement payment, a licensing fee and ongoing royalties, are not material to the Company’s consolidated results of operations and consolidated cash flows. Following the settlement, the case was dismissed with prejudice. | |||||
The Company is a party to a number of Federal proceedings in the United States brought under the Comprehensive Environment Response, Compensation and Liability Act, also known as “Superfund,” and similar state laws. The affected sites are in varying stages of development. In some instances, the remedy has been completed, while in others, environmental studies are commencing. For all sites, there are other potentially responsible parties that may be jointly or severally liable to pay all cleanup costs. |
Segment_Data
Segment Data | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Data | ' | ||||||||||||
Note 6 — Segment Data | |||||||||||||
The Company’s organizational structure is based upon its three principal business segments: BD Medical (“Medical”), BD Diagnostics (“Diagnostics”) and BD Biosciences (“Biosciences”). These segments are strategic businesses that are managed separately because each one develops, manufactures and markets distinct products and services. | |||||||||||||
The Medical segment produces a broad array of medical devices that are used in a wide range of healthcare settings. The principal product lines in the Medical segment include needles, syringes and intravenous catheters for medication delivery (including safety-engineered and auto-disable devices); prefilled IV flush syringes; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes; prefillable drug delivery systems provided to pharmaceutical companies and sold to end-users as drug/device combinations; regional anesthesia needles and trays; sharps disposal containers; closed-system transfer devices; and generic prefilled injectables. | |||||||||||||
The Diagnostics segment produces products for the safe collection and transport of diagnostics specimens, as well as instruments and reagent systems to detect a broad range of infectious diseases, healthcare-associated infections (“HAIs”) and cancers. The principal products and services in the Diagnostics segment include integrated systems for specimen collection; safety-engineered blood collection products and systems; automated blood culturing systems; molecular testing systems for infectious diseases and women’s health; microorganism identification and drug susceptibility systems; liquid-based cytology systems for cervical cancer screening; rapid diagnostic assays; microbiology laboratory automation; and plated media. | |||||||||||||
The Biosciences segment produces research and clinical tools that facilitate the study of cells, and the components of cells, to gain a better understanding of normal and disease processes. The principal product lines in the Biosciences segment include fluorescence-activated cell sorters and analyzers; monoclonal antibodies and kits for performing cell analysis; reagent systems for life science research; cell imaging systems; diagnostic assays; and cell culture media supplements for biopharmaceutical manufacturing. | |||||||||||||
The Company evaluates performance of its business segments and allocates resources to them primarily based upon operating income. Segment operating income represents revenues reduced by product costs and operating expenses. | |||||||||||||
Distribution of products is primarily through independent distribution channels, and directly to end-users by BD and independent sales representatives. No customer accounted for 10% or more of revenues in any of the three years presented. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues(A) | |||||||||||||
Medical | $ | 4,306 | $ | 4,091 | $ | 4,007 | |||||||
Diagnostics | 2,646 | 2,538 | 2,480 | ||||||||||
Biosciences | 1,102 | 1,080 | 1,096 | ||||||||||
$ | 8,054 | $ | 7,708 | $ | 7,584 | ||||||||
Segment Operating Income | |||||||||||||
Medical | $ | 1,233 | $ | 1,162 | $ | 1,181 | |||||||
Diagnostics | 638 | 653 | 636 | ||||||||||
Biosciences | 269 | 262 | 278 | ||||||||||
Total Segment Operating Income | 2,140 | 2,077 | 2,096 | ||||||||||
Unallocated Expenses(B) | (976 | )(D) | (605 | ) | (478 | ) | |||||||
Income From Continuing Operations Before Income Taxes | $ | 1,165 | $ | 1,472 | $ | 1,618 | |||||||
Segment Assets | |||||||||||||
Medical | $ | 4,582 | $ | 4,245 | $ | 3,928 | |||||||
Diagnostics | 2,571 | 2,462 | 2,270 | ||||||||||
Biosciences | 1,205 | 1,407 | 1,332 | ||||||||||
Total Segment Assets | 8,357 | 8,114 | 7,530 | ||||||||||
Corporate and All Other(C) | 3,792 | 3,247 | 2,900 | ||||||||||
$ | 12,149 | $ | 11,361 | $ | 10,430 | ||||||||
Capital Expenditures | |||||||||||||
Medical | $ | 354 | $ | 363 | $ | 367 | |||||||
Diagnostics | 142 | 101 | 93 | ||||||||||
Biosciences | 16 | 14 | 31 | ||||||||||
Corporate and All Other | 9 | 10 | 18 | ||||||||||
$ | 522 | $ | 487 | $ | 509 | ||||||||
Depreciation and Amortization | |||||||||||||
Medical | $ | 259 | $ | 240 | $ | 248 | |||||||
Diagnostics | 190 | 175 | 163 | ||||||||||
Biosciences | 77 | 79 | 67 | ||||||||||
Corporate and All Other | 19 | 18 | 16 | ||||||||||
$ | 546 | $ | 511 | $ | 494 | ||||||||
(A) | Intersegment revenues are not material. | ||||||||||||
(B) | Includes primarily interest, net; foreign exchange; corporate expenses; and share-based compensation expense. | ||||||||||||
(C) | Includes cash and investments and corporate assets. | ||||||||||||
(D) | Includes the $341 million charge associated with the unfavorable verdict returned in the antitrust and false advertising lawsuit filed against the Company by RTI as well as the $22 million charge associated with the pending litigation settlement related to indirect purchaser antitrust class action cases. Additional disclosures regarding these matters are provided in Note 5. | ||||||||||||
Revenues by Organizational Units | 2013 | 2012 | 2011 | ||||||||||
BD Medical | |||||||||||||
Medical Surgical Systems | $ | 2,196 | $ | 2,105 | $ | 2,082 | |||||||
Diabetes Care | 969 | 911 | 866 | ||||||||||
Pharmaceutical Systems | 1,142 | 1,074 | 1,059 | ||||||||||
4,306 | 4,091 | 4,007 | |||||||||||
BD Diagnostics | |||||||||||||
Preanalytical Systems | 1,352 | 1,301 | 1,278 | ||||||||||
Diagnostic Systems | 1,294 | 1,237 | 1,203 | ||||||||||
2,646 | 2,538 | 2,480 | |||||||||||
BD Biosciences | 1,102 | 1,080 | 1,096 | ||||||||||
$ | 8,054 | $ | 7,708 | $ | 7,584 | ||||||||
Geographic Information | |||||||||||||
The countries in which the Company has local revenue-generating operations have been combined into the following geographic areas: the United States (including Puerto Rico), Europe, Asia Pacific and Other, which is comprised of Latin America, Canada and Japan. | |||||||||||||
Revenues to unaffiliated customers are based upon the source of the product shipment. Long-lived assets, which include net property, plant and equipment, are based upon physical location. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues | |||||||||||||
United States | $ | 3,353 | $ | 3,288 | $ | 3,248 | |||||||
Europe | 2,512 | 2,379 | 2,431 | ||||||||||
Asia Pacific | 1,006 | 883 | 793 | ||||||||||
Other | 1,183 | 1,159 | 1,113 | ||||||||||
$ | 8,054 | $ | 7,708 | $ | 7,584 | ||||||||
Long-Lived Assets | |||||||||||||
United States | $ | 3,251 | $ | 3,156 | $ | 3,140 | |||||||
Europe | 1,667 | 1,559 | 1,461 | ||||||||||
Asia Pacific | 442 | 397 | 300 | ||||||||||
Other | 565 | 624 | 591 | ||||||||||
Corporate | 350 | 303 | 270 | ||||||||||
$ | 6,276 | $ | 6,039 | $ | 5,762 | ||||||||
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
Note 7 — Share-Based Compensation | |||||||||||||||||
The Company grants share-based awards under the 2004 Employee and Director Equity-Based Compensation Plan (“2004 Plan”), which provides long-term incentive compensation to employees and directors consisting of: stock appreciation rights (“SARs”), stock options, performance-based restricted stock units, time-vested restricted stock units and other stock awards. | |||||||||||||||||
The amounts and location of compensation cost relating to share-based payments included in consolidated statements of income is as follows: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost of products sold | $ | 20 | $ | 18 | $ | 14 | |||||||||||
Selling and administrative expense | 66 | 59 | 50 | ||||||||||||||
Research and development expense | 14 | 12 | 9 | ||||||||||||||
$ | 100 | $ | 89 | $ | 73 | ||||||||||||
The associated income tax benefit recognized was $35 million, $32 million and $26 million in fiscal years 2013, 2012 and 2011, respectively. Share-based compensation attributable to discontinued operations was not material. | |||||||||||||||||
Stock Appreciation Rights | |||||||||||||||||
SARs represent the right to receive, upon exercise, shares of common stock having a value equal to the difference between the market price of common stock on the date of exercise and the exercise price on the date of grant. SARs vest over a four-year period and have a ten-year term. The fair value was estimated on the date of grant using a lattice-based binomial option valuation model that uses the following weighted-average assumptions: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Risk-free interest rate | 1.33% | 1.67% | 2.40% | ||||||||||||||
Expected volatility | 21.00% | 22.00% | 24.00% | ||||||||||||||
Expected dividend yield | 2.60% | 2.50% | 2.14% | ||||||||||||||
Expected life | 8.0 years | 7.9 years | 7.8 years | ||||||||||||||
Fair value derived | $12.08 | $12.61 | $16.80 | ||||||||||||||
Expected volatility is based upon historical volatility for the Company’s common stock and other factors. The expected life of SARs granted is derived from the output of the lattice-based model, using assumed exercise rates based on historical exercise and termination patterns, and represents the period of time that SARs granted are expected to be outstanding. The risk-free interest rate used is based upon the published U.S. Treasury yield curve in effect at the time of grant for instruments with a similar life. The dividend yield is based upon the most recently declared quarterly dividend as of the grant date. The total intrinsic value of SARs exercised during 2013, 2012 and 2011 was $54 million, $4 million and $9 million, respectively. The Company issued 576 thousand shares during 2013 to satisfy the SARs exercised. The actual tax benefit realized during 2013, 2012 and 2011 for tax deductions from SAR exercises totaled $19 million, $3 million and $3 million, respectively. The total fair value of SARs vested during 2013, 2012 and 2011 was $30 million, $37 million and $32 million, respectively. | |||||||||||||||||
A summary of SARs outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
SARs (in | Weighted | Weighted | Aggregate | ||||||||||||||
thousands) | Average | Average | Intrinsic | ||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||
Contractual Term | |||||||||||||||||
(Years) | |||||||||||||||||
Balance at October 1 | 9,782 | $ | 72.28 | ||||||||||||||
Granted | 1,524 | 76.18 | |||||||||||||||
Exercised | (2,351 | ) | 69.82 | ||||||||||||||
Forfeited, canceled or expired | (361 | ) | 75.08 | ||||||||||||||
Balance at September 30 | 8,594 | $ | 73.52 | 6.37 | $ | 228 | |||||||||||
Vested and expected to vest at September 30 | 8,268 | $ | 73.46 | 6.3 | $ | 220 | |||||||||||
Exercisable at September 30 | 5,331 | $ | 72.51 | 5.26 | $ | 147 | |||||||||||
Stock Options | |||||||||||||||||
The Company has not granted stock options since 2005. All outstanding stock option grants are fully vested and have a ten-year term. | |||||||||||||||||
A summary of stock options outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
Stock | Weighted | Weighted Average | Aggregate | ||||||||||||||
Options (in | Average | Remaining | Intrinsic | ||||||||||||||
thousands) | Exercise Price | Contractual Term | Value | ||||||||||||||
(Years) | |||||||||||||||||
Balance at October 1 | 1,969 | $ | 44.06 | ||||||||||||||
Exercised | (1,507 | ) | 42.65 | ||||||||||||||
Forfeited, canceled or expired | (27 | ) | 30.87 | ||||||||||||||
Balance at September 30 | 435 | $ | 49.74 | 0.84 | $ | 22 | |||||||||||
Vested at September 30 | 435 | $ | 49.74 | 0.84 | $ | 22 | |||||||||||
Exercisable at September 30 | 435 | $ | 49.74 | 0.84 | $ | 22 | |||||||||||
Cash received from the exercising of stock options in 2013, 2012 and 2011 was $64 million, $52 million and $103 million, respectively. The actual tax benefit realized for tax deductions from stock option exercises totaled $21 million, $12 million and $46 million, respectively. The total intrinsic value of stock options exercised during the years 2013, 2012 and 2011 was $65 million, $58 million and $138 million, respectively. | |||||||||||||||||
Performance-Based Restricted Stock Units | |||||||||||||||||
Performance-based restricted stock units cliff vest three years after the date of grant. These units are tied to the Company’s performance against pre-established targets over a three-year performance period. The performance measures for fiscal years 2011 and 2012 were average growth rate of consolidated revenues and average annual return on invested capital while the performance measures in fiscal year 2013 were relative total shareholder return (measures the Company’s stock performance during the performance period against that of peer companies) and average annual return on invested capital. Under the Company’s long-term incentive program, the actual payout under these awards may vary from zero to 200% of an employee’s target payout, based on the Company’s actual performance over the three-year performance period. The fair value is based on the market price of the Company’s stock on the date of grant. Compensation cost initially recognized assumes that the target payout level will be achieved and is adjusted for subsequent changes in the expected outcome of performance-related conditions. | |||||||||||||||||
A summary of performance-based restricted stock units outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
Stock Units (in | Weighted | ||||||||||||||||
thousands) | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Balance at October 1 | 2,185 | $ | 75.24 | ||||||||||||||
Granted | 523 | 72.14 | |||||||||||||||
Distributed | — | — | |||||||||||||||
Forfeited or canceled | (1,057 | ) | 75.41 | ||||||||||||||
Balance at September 30(A) | 1,651 | $ | 74.15 | ||||||||||||||
Expected to vest at September 30(B) | 573 | $ | 73.06 | ||||||||||||||
(A) | Based on 200% of target payout. | ||||||||||||||||
(B) | Net of expected forfeited units and units in excess of the expected performance payout of 91 thousand and 987 thousand shares, respectively. | ||||||||||||||||
The weighted average grant date fair value of performance-based restricted stock units granted during the years 2012 and 2011 was $72.12 and $76.64, respectively. The total fair value of performance-based restricted stock units vested during 2012 and 2011 was $7 million and $15 million, respectively. Based on the Company’s results during the performance period, compared with the established performance targets for payout, there was no payout of performance-based restricted stock units in fiscal year 2013. At September 30, 2013, the weighted average remaining vesting term of performance-based restricted stock units is .99 years. | |||||||||||||||||
Time-Vested Restricted Stock Units | |||||||||||||||||
Time-vested restricted stock units generally cliff vest three years after the date of grant, except for certain key executives of the Company, including the executive officers, for which such units generally vest one year following the employee’s retirement. The related share-based compensation expense is recorded over the requisite service period, which is the vesting period or in the case of certain key executives is based on retirement eligibility. The fair value of all time-vested restricted stock units is based on the market value of the Company’s stock on the date of grant. | |||||||||||||||||
A summary of time-vested restricted stock units outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
Stock Units (in | Weighted | ||||||||||||||||
thousands) | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Balance at October 1 | 2,390 | $ | 72.79 | ||||||||||||||
Granted | 1,210 | 70.99 | |||||||||||||||
Distributed | (457 | ) | 73.85 | ||||||||||||||
Forfeited or canceled | (355 | ) | 72.97 | ||||||||||||||
Balance at September 30 | 2,787 | $ | 71.81 | ||||||||||||||
Expected to vest at September 30 | 2,509 | $ | 71.81 | ||||||||||||||
The weighted average grant date fair value of time-vested restricted stock units granted during the years 2012 and 2011 was $72.27 and $76.97, respectively. The total fair value of time-vested restricted stock units vested during 2013, 2012 and 2011 was $52 million, $38 million and $36 million, respectively. At September 30, 2013, the weighted average remaining vesting term of the time-vested restricted stock units is 1.40 years. | |||||||||||||||||
The amount of unrecognized compensation expense for all non-vested share-based awards as of September 30, 2013, is approximately $101 million, which is expected to be recognized over a weighted-average remaining life of approximately 1.86 years. At September 30, 2013, 12,139 thousand shares were authorized for future grants under the 2004 Plan. | |||||||||||||||||
The Company has a policy of satisfying share-based payments through either open market purchases or shares held in treasury. At September 30, 2013, the Company has sufficient shares held in treasury to satisfy these payments in 2013. | |||||||||||||||||
Other Stock Plans | |||||||||||||||||
The Company has a Stock Award Plan, which allows for grants of common shares to certain key employees. Distribution of 25% or more of each award is deferred until after retirement or involuntary termination, upon which the deferred portion of the award is distributable in five equal annual installments. The balance of the award is distributable over five years from the grant date, subject to certain conditions. In February 2004, this plan was terminated with respect to future grants upon the adoption of the 2004 Plan. At September 30, 2013 and 2012, awards for 73 thousand and 89 thousand shares, respectively, were outstanding. | |||||||||||||||||
The Company has a Directors’ Deferral Plan, which provides a means to defer director compensation, from time to time, on a deferred stock or cash basis. As of September 30, 2013, 104 thousand shares were held in trust, of which 4 thousand shares represented Directors’ compensation in 2013, in accordance with the provisions of the plan. Under this plan, which is unfunded, directors have an unsecured contractual commitment from the Company. | |||||||||||||||||
The Company also has a Deferred Compensation Plan that allows certain highly-compensated employees, including executive officers, to defer salary, annual incentive awards and certain equity-based compensation. As of September 30, 2013, 401 thousand shares were issuable under this plan. |
Benefit_Plans
Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Benefit Plans | ' | ||||||||||||||||||||||||
Note 8 — Benefit Plans | |||||||||||||||||||||||||
The Company has defined benefit pension plans covering substantially all of its employees in the United States and certain foreign locations. The Company also provides certain postretirement healthcare and life insurance benefits to qualifying domestic retirees. Postretirement healthcare and life insurance benefit plans in foreign countries are not material. The measurement date used for the Company’s employee benefit plans is September 30. | |||||||||||||||||||||||||
Effective January 1, 2013, all plan participants’ benefits in the U.S. defined benefit traditional pension plan, which provided benefits to participants based upon a final average pay formula, were converted to a defined benefit cash balance pension plan. Upon conversion, each individual plan participant received an opening balance equal to the actuarial equivalent of individual benefits accrued under the defined benefit traditional pension plan through December 31, 2012. Following conversion, a participant will subsequently accrue benefits under the cash balance plan through monthly pay credits based upon the plan participant’s age and length of service. Upon approval and communication of this benefit plan amendment to affected employees during the first quarter of fiscal year 2012, the Company remeasured its U.S. defined pension on November 30, 2011 and this interim remeasurement reduced the net pension cost for fiscal year 2012 by $40 million. | |||||||||||||||||||||||||
The Company’s November 30, 2011 benefit plan remeasurement was based upon a discount rate of 5.1%, compared with the discount rate of 4.9% used on the September 30, 2011 measurement date. The increase in the discount rate reduced total fiscal year 2012 net pension cost by $5 million and this change in the projected benefit obligation was recognized in Other comprehensive income (loss) as an actuarial gain. An increase in plan assets held as of November 30, 2011 compared with assets held as of September 30, 2011 also reduced total fiscal year 2012 net pension cost by $6 million. The change in the projected benefit obligation attributable to the plan amendment was recognized in Other comprehensive income (loss) as negative prior service cost and reduced fiscal year 2012 net pension cost by $29 million. | |||||||||||||||||||||||||
Net pension and other postretirement cost for the years ended September 30 included the following components: | |||||||||||||||||||||||||
Pension Plans | Other Postretirement Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Service cost | $ | 84 | $ | 75 | $ | 89 | $ | 6 | $ | 6 | $ | 6 | |||||||||||||
Interest cost | 87 | 91 | 93 | 10 | 13 | 13 | |||||||||||||||||||
Expected return on plan assets | (116 | ) | (104 | ) | (103 | ) | — | — | — | ||||||||||||||||
Amortization of prior service credit | (13 | ) | (11 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | |||||||||||||
Amortization of loss | 75 | 56 | 56 | 4 | 5 | 4 | |||||||||||||||||||
Curtailment/settlement loss | 6 | 20 | 1 | — | (1 | ) | — | ||||||||||||||||||
Net pension and postretirement cost | $ | 123 | $ | 128 | $ | 134 | $ | 19 | $ | 21 | $ | 23 | |||||||||||||
Net pension cost attributable to foreign plans included in the preceding table was $33 million, $31 million and $34 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
The settlement losses recorded in 2013 and 2012 included lump sum benefit payments associated with the Company’s U.S. supplemental pension plan. The Company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year. The settlement losses recorded in 2013 and 2012 also included settlements associated with certain foreign plans. | |||||||||||||||||||||||||
The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Consolidated Balance Sheets for these plans were as follows: | |||||||||||||||||||||||||
Pension Plans | Other Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||
Beginning obligation | $ | 2,308 | $ | 1,996 | $ | 267 | $ | 269 | |||||||||||||||||
Service cost | 84 | 75 | 6 | 6 | |||||||||||||||||||||
Interest cost | 87 | 91 | 10 | 13 | |||||||||||||||||||||
Plan amendments | (23 | ) | (124 | ) | — | (5 | ) | ||||||||||||||||||
Benefits paid | (153 | ) | (124 | ) | (28 | ) | (27 | ) | |||||||||||||||||
Actuarial (gain) loss | (217 | ) | 439 | (21 | ) | 5 | |||||||||||||||||||
Settlements | (13 | ) | (45 | ) | — | — | |||||||||||||||||||
Other, includes translation | 5 | — | 8 | 6 | |||||||||||||||||||||
Benefit obligation at September 30 | $ | 2,076 | $ | 2,308 | $ | 243 | $ | 267 | |||||||||||||||||
Change in fair value of plan assets: | |||||||||||||||||||||||||
Beginning fair value | $ | 1,573 | $ | 1,353 | $ | — | $ | — | |||||||||||||||||
Actual return on plan assets | 200 | 223 | — | — | |||||||||||||||||||||
Employer contribution | 174 | 166 | — | — | |||||||||||||||||||||
Benefits paid | (153 | ) | (124 | ) | — | — | |||||||||||||||||||
Settlements | (13 | ) | (45 | ) | — | — | |||||||||||||||||||
Other, includes translation | 3 | 1 | — | — | |||||||||||||||||||||
Plan assets at September 30 | $ | 1,785 | $ | 1,573 | $ | — | $ | — | |||||||||||||||||
Funded Status at September 30: | |||||||||||||||||||||||||
Unfunded benefit obligation | $ | (292 | ) | $ | (734 | ) | $ | (243 | ) | $ | (267 | ) | |||||||||||||
Amounts recognized in the Consolidated Balance Sheets at September 30: | |||||||||||||||||||||||||
Other | $ | 12 | $ | — | $ | — | $ | — | |||||||||||||||||
Salaries, wages and related items | (6 | ) | (6 | ) | (18 | ) | (18 | ) | |||||||||||||||||
Long-term Employee Benefit Obligations | (299 | ) | (728 | ) | (225 | ) | (250 | ) | |||||||||||||||||
Net amount recognized | $ | (292 | ) | $ | (734 | ) | $ | (243 | ) | $ | (267 | ) | |||||||||||||
Amounts recognized in Accumulated other comprehensive (loss) income before income taxes at September 30: | |||||||||||||||||||||||||
Net transition asset | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Prior service credit | 133 | 122 | 9 | 10 | |||||||||||||||||||||
Net actuarial loss | (774 | ) | (1,153 | ) | (46 | ) | (71 | ) | |||||||||||||||||
Net amount recognized | $ | (641 | ) | $ | (1,030 | ) | $ | (37 | ) | $ | (61 | ) | |||||||||||||
Foreign pension plan assets at fair value included in the preceding table were $549 million and $466 million at September 30, 2013 and 2012, respectively. The foreign pension plan projected benefit obligations were $658 million and $632 million at September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Pension plans with accumulated benefit obligations in excess of plan assets and plans with projected benefit obligations in excess of plan assets consist of the following at September 30: | |||||||||||||||||||||||||
Accumulated Benefit | Projected Benefit | ||||||||||||||||||||||||
Obligation Exceeds the | Obligation Exceeds the | ||||||||||||||||||||||||
Fair Value of Plan Assets | Fair Value of Plan Assets | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Projected benefit obligation | $ | 1,551 | $ | 2,055 | $ | 1,855 | $ | 2,307 | |||||||||||||||||
Accumulated benefit obligation | $ | 1,525 | $ | 2,000 | |||||||||||||||||||||
Fair value of plan assets | $ | 1,285 | $ | 1,364 | $ | 1,551 | $ | 1,573 | |||||||||||||||||
The estimated net actuarial loss and prior service credit for pension benefits that will be amortized from Accumulated other comprehensive (loss) income into net pension costs over the next fiscal year are expected to be $(48) million and $15 million, respectively. The estimated net actuarial loss and prior service credit for other postretirement benefits that will be amortized from Accumulated other comprehensive (loss) income into net other postretirement costs over the next fiscal year are expected to be $(2) million and $1 million, respectively. | |||||||||||||||||||||||||
The weighted average assumptions used in determining pension plan information were as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net Cost | |||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||
U.S. plans(A) | 3.9 | % | 4.9 | %(B) | 5.2 | % | |||||||||||||||||||
Foreign plans | 3.94 | 5.26 | 4.68 | ||||||||||||||||||||||
Expected return on plan assets: | |||||||||||||||||||||||||
U.S. plans | 7.75 | 7.75 | 8 | ||||||||||||||||||||||
Foreign plans | 5.68 | 6.06 | 6.31 | ||||||||||||||||||||||
Rate of compensation increase: | |||||||||||||||||||||||||
U.S. plans(A) | 4.25 | 4.25 | 4.5 | ||||||||||||||||||||||
Foreign plans | 3.28 | 3.61 | 3.56 | ||||||||||||||||||||||
Benefit Obligation | |||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||
U.S. plans | 4.95 | (C) | 3.9 | (A) | 4.9 | (A) | |||||||||||||||||||
Foreign plans | 3.87 | 3.94 | 5.26 | ||||||||||||||||||||||
Rate of compensation increase: | |||||||||||||||||||||||||
U.S. plans(A) | 4.25 | 4.25 | 4.25 | ||||||||||||||||||||||
Foreign plans | 2.46 | 3.28 | 3.61 | ||||||||||||||||||||||
(A) | Also used to determine other postretirement and postemployment benefit plan information. | ||||||||||||||||||||||||
(B) | On November 30, 2011, the Company remeasured its U.S. defined benefit pension plan based upon a 5.10% discount rate compared to the discount rate of 4.90% used on September 30, 2011. All other U.S. plans remained at 4.90%. | ||||||||||||||||||||||||
(C) | The discount rates used to determine other postretirement and postemployment benefit plan information were 4.40% and 4.00%, respectively. | ||||||||||||||||||||||||
At September 30, 2013 the assumed healthcare trend rates were 7.2% pre and post age 65, gradually decreasing to an ultimate rate of 5.0% beginning in 2024. At September 30, 2012 the assumed healthcare trend rates were 7.5% pre and post age 65, gradually decreasing to an ultimate rate of 5.0% beginning in 2024. A one percentage point increase in assumed healthcare cost trend rates in each year would increase the accumulated postretirement benefit obligation as of September 30, 2013 by $9 million and the aggregate of the service cost and interest cost components of 2013 annual expense by $1 million. A one percentage point decrease in the assumed healthcare cost trend rates in each year would decrease the accumulated postretirement benefit obligation as of September 30, 2013 by $8 million and the aggregate of the 2013 service cost and interest cost by $1 million. | |||||||||||||||||||||||||
Expected Rate of Return on Plan Assets | |||||||||||||||||||||||||
The expected rate of return on plan assets is based upon expectations of long-term average rates of return to be achieved by the underlying investment portfolios. In establishing this assumption, the Company considers many factors, including historical assumptions compared with actual results; benchmark data; expected returns on various plan asset classes, as well as current and expected asset allocations. | |||||||||||||||||||||||||
Expected Funding | |||||||||||||||||||||||||
The Company’s funding policy for its defined benefit pension plans is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that may be appropriate considering the funded status of the plans, tax consequences, the cash flow generated by the Company and other factors. While the Company does not anticipate any significant required contributions to its pension plans in 2014, the Company made a discretionary contribution of $40 million to its U.S. pension plan in October 2013. | |||||||||||||||||||||||||
Expected benefit payments are as follows: | |||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||
Plans | Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
2014 | $ | 134 | $ | 18 | |||||||||||||||||||||
2015 | 142 | 18 | |||||||||||||||||||||||
2016 | 146 | 18 | |||||||||||||||||||||||
2017 | 150 | 18 | |||||||||||||||||||||||
2018 | 155 | 18 | |||||||||||||||||||||||
2019-2023 | 840 | 90 | |||||||||||||||||||||||
Expected receipts of the subsidy under the Medicare Prescription Drug Improvement and Modernization Act of 2003, which are not reflected in the expected other postretirement benefit payments included in the preceding table, will be approximately $1 million each year for fiscal years 2014 through 2023. | |||||||||||||||||||||||||
Investments | |||||||||||||||||||||||||
The Company’s primary objective is to achieve returns sufficient to meet future benefit obligations. It seeks to generate above market returns by investing in more volatile asset classes such as equities while at the same time controlling risk through diversification in non-correlated asset classes and through allocations to more stable asset classes like fixed income. | |||||||||||||||||||||||||
U.S. Plans | |||||||||||||||||||||||||
The Company’s U.S. pension plans comprise 69% of total benefit plan investments, based on September 30, 2013 market values. The target allocations implemented on August 1, 2013 are 35% fixed income, 34% diversifying investments and 31% equities, compared with target allocations applied earlier in fiscal year 2013 and in fiscal year 2012 of 65% equities and 35% fixed income. The asset allocations to diversifying investments include high-yield bonds, hedge funds, real estate, infrastructure, commodities, leveraged loans and emerging markets bonds. While the U.S. pension plan asset portfolio included primarily direct investments in securities on September 30, 2012, plan assets on September 30, 2013 were comprised primarily of investment funds. The revised target allocations implemented in fiscal year 2013 were established based on an analysis of projected benefit payments and estimates of long-term returns, volatilities and correlations for various asset classes. | |||||||||||||||||||||||||
The actual portfolio investment mix may, from time to time, deviate from the established target mix due to various factors such as normal market fluctuations, the reliance on estimates in connection with the determination of allocations and normal portfolio activity such as additions and withdrawals. Rebalancing of the asset portfolio on a quarterly basis is required to address any allocations that deviate from the established target allocations in excess of defined allowable ranges. The target allocations are subject to periodic review, including a review of the asset portfolio’s performance, by the named fiduciary of the plans. Any tactical deviations from the established asset mix require the approval of the named fiduciary. | |||||||||||||||||||||||||
The U.S. plans may enter into both exchange traded and non-exchange traded derivative transactions in order to manage interest rate exposure, volatility, term structure of interest rates, and sector and currency exposures within the fixed income portfolios. The Company has established minimum credit quality standards for counterparties in such transactions. | |||||||||||||||||||||||||
The following table provides the fair value measurements of U.S. plan assets, as well as the measurement techniques and inputs utilized to measure fair value of these assets, at September 30, 2013 and 2012. The categorization of fund investments is based upon the categorization of these funds’ underlying assets. | |||||||||||||||||||||||||
Total U.S. | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Mortgage and asset-backed securities | $ | 174 | $ | — | $ | 174 | $ | — | |||||||||||||||||
Corporate bonds | 217 | 102 | 115 | — | |||||||||||||||||||||
Government and agency-U.S. | 142 | 97 | 46 | — | |||||||||||||||||||||
Government and agency-Foreign | 122 | 74 | 49 | — | |||||||||||||||||||||
Equity securities | 384 | 62 | 322 | — | |||||||||||||||||||||
Cash and cash equivalents | 3 | 3 | — | — | |||||||||||||||||||||
Other | 193 | 97 | 84 | 12 | |||||||||||||||||||||
Fair value of plan assets | $ | 1,235 | $ | 435 | $ | 788 | $ | 12 | |||||||||||||||||
Total U.S. | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Mortgage and asset-backed securities | $ | 137 | $ | — | $ | 137 | $ | — | |||||||||||||||||
Corporate bonds | 107 | — | 107 | — | |||||||||||||||||||||
Government and agency-U.S. | 75 | 57 | 17 | — | |||||||||||||||||||||
Government and agency-Foreign | 6 | — | 6 | — | |||||||||||||||||||||
Other | 9 | — | 9 | — | |||||||||||||||||||||
Equity securities | 724 | 640 | 85 | — | |||||||||||||||||||||
Cash and cash equivalents | 49 | 49 | — | — | |||||||||||||||||||||
Fair value of plan assets | $ | 1,107 | $ | 746 | $ | 361 | $ | — | |||||||||||||||||
Fixed Income Securities | |||||||||||||||||||||||||
U.S. pension plan assets categorized above as fixed income securities include fund investments comprised of mortgage-backed, corporate, government and agency and asset-backed instruments. Mortgage-backed securities consist of residential mortgage pass-through certificates. Investments in corporate bonds are diversified across industry and sector and consist of investment-grade, as well as high-yield debt instruments. U.S. government investments consist of obligations of the U.S. Treasury, other U.S. government agencies, state governments and local municipalities. Assets categorized as foreign government and agency debt securities included investments in developed and emerging markets. In fiscal year 2012, plan assets categorized as other fixed income securities included immaterial investments, such as derivatives. | |||||||||||||||||||||||||
The values of fixed income investments classified within Level 1 are based on the closing price reported on the major market on which the investments are traded. A portion of the fixed income instruments classified within Level 2 are valued based upon estimated prices from independent vendors’ pricing models and these prices are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other market-related data. Values of other instruments classified within Level 2 are based on the corroborated net asset value provided by the fund administrator, which is based on the value of the underlying assets owned by the fund, less its liabilities and then divided by the number of fund units outstanding. | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
U.S. pension plan assets categorized as equity securities consist of fund investments in publicly-traded U.S. and non-U.S. equity securities. In order to achieve appropriate diversification, these portfolios are invested across market sectors, investment styles, capitalization weights and geographic regions. The values of equity securities classified within Level 1 are based on the closing price reported on the major market on which the investments are traded. The values of equity security investments classified within Level 2 are based on the corroborated net asset value provided by the fund administrator. | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
A portion of the U.S. plans’ assets consists of investments in cash and cash equivalents, primarily to accommodate liquidity requirements relating to trade settlement and benefit payment activity, and the values of these assets are based upon quoted market prices. | |||||||||||||||||||||||||
Other Securities | |||||||||||||||||||||||||
Other U.S. pension plan assets include fund investments comprised of underlying assets of real estate, infrastructure, commodities and hedge funds. The values of such instruments classified within Level 1 are based on the closing price reported on the major market on which the investments are traded. Investments classified within Level 2 are valued based on the net asset value provided by the fund administrator when such net asset value represents the price at which the pension plan assets could be redeemed at period end. Investments classified within Level 3 are valued based on the net asset value provided by the fund administrator when the pension plan assets could not be redeemed at period end (for example, if the assets are subject to a lock-up period). | |||||||||||||||||||||||||
The U.S. pension plan assets did not include any assets measured using Level 3 inputs for the year ended September 30, 2012. The following table summarizes the changes, for the year ended September 30, 2013, in the fair value of U.S. pension assets measured using Level 3 inputs: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
(Hedge | |||||||||||||||||||||||||
Funds) | |||||||||||||||||||||||||
Balance at September 30, 2012 | $ | — | |||||||||||||||||||||||
Purchases, sales and settlements, net | 12 | ||||||||||||||||||||||||
Balance at September 30, 2013 | $ | 12 | |||||||||||||||||||||||
Foreign Plans | |||||||||||||||||||||||||
Foreign plan assets comprise 31% of the Company’s total benefit plan assets, based on market value at September 30, 2013. Such plans have local independent fiduciary committees, with responsibility for development and oversight of investment policy, including asset allocation decisions. In making such decisions, consideration is given to local regulations, investment practices and funding rules. | |||||||||||||||||||||||||
The following table provides the fair value measurements of foreign plan assets, as well as the measurement techniques and inputs utilized to measure fair value of these assets, at September 30, 2013 and 2012. | |||||||||||||||||||||||||
Total Foreign | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Corporate bonds | $ | 46 | $ | — | $ | 46 | $ | — | |||||||||||||||||
Government and agency-U.S. | 3 | 3 | — | — | |||||||||||||||||||||
Government and agency-Foreign | 82 | 47 | 36 | — | |||||||||||||||||||||
Equity securities | 309 | 294 | 14 | — | |||||||||||||||||||||
Cash and cash equivalents | 17 | 17 | — | — | |||||||||||||||||||||
Real estate | 11 | — | 9 | 1 | |||||||||||||||||||||
Insurance contracts | 81 | — | — | 81 | |||||||||||||||||||||
Fair value of plan assets | $ | 549 | $ | 361 | $ | 105 | $ | 83 | |||||||||||||||||
Total Foreign | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Corporate bonds | $ | 37 | $ | — | $ | 37 | $ | — | |||||||||||||||||
Government and agency-U.S. | 3 | 3 | — | — | |||||||||||||||||||||
Government and agency-Foreign | 76 | 35 | 40 | — | |||||||||||||||||||||
Equity securities | 244 | 230 | 15 | — | |||||||||||||||||||||
Cash and cash equivalents | 17 | 17 | — | — | |||||||||||||||||||||
Real estate | 9 | — | 6 | 3 | |||||||||||||||||||||
Insurance contracts | 80 | — | — | 80 | |||||||||||||||||||||
Fair value of plan assets | $ | 466 | $ | 286 | $ | 98 | $ | 83 | |||||||||||||||||
Fixed Income Securities | |||||||||||||||||||||||||
Fixed income investments held by foreign pension plans include corporate, U.S. government and non-U.S. government securities. The values of fixed income securities classified within Level 1 are based on the closing price reported on the major market on which the investments are traded. Values of investments classified within Level 2 are based upon estimated prices from independent vendors’ pricing models and these prices are derived from market observable sources. | |||||||||||||||||||||||||
Equity Securities | |||||||||||||||||||||||||
Equity securities included in the foreign plan assets consist of publicly-traded U.S. and non-U.S. equity securities. The values of equity securities classified within Level 1 are based on the closing price reported on the major market on which the investments are traded. The values of equity security investments classified within Level 2 are based on the corroborated net asset value provided by the fund administrator. | |||||||||||||||||||||||||
Other Securities (Cash and Cash Equivalents, Real Estate and Insurance Contracts) | |||||||||||||||||||||||||
The foreign plans hold a portion of assets in cash and cash equivalents, in order to accommodate liquidity requirements and the values are based upon quoted market prices. Real estate investments consist of investments in funds holding an interest in real properties and the corresponding values represent the estimated fair value based on the fair value of the underlying investment value or cost, adjusted for any accumulated earnings or losses. The values of insurance contracts approximately represent cash surrender value. | |||||||||||||||||||||||||
The following table summarizes the changes, for the years ended September 30, 2013 and 2012, in the fair value of foreign pension assets measured using Level 3 inputs: | |||||||||||||||||||||||||
Real | Insurance | Total | |||||||||||||||||||||||
Estate | Contracts | Assets | |||||||||||||||||||||||
Balance at September 30, 2011 | $ | 11 | $ | 78 | $ | 89 | |||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||
Relating to assets held at September 30, 2011 | — | 3 | 3 | ||||||||||||||||||||||
Purchases, sales and settlements, net | (2 | ) | 1 | — | |||||||||||||||||||||
Transfers in (out) from other categories | (6 | ) | — | (6 | ) | ||||||||||||||||||||
Exchange rate changes | — | (3 | ) | (3 | ) | ||||||||||||||||||||
Balance at September 30, 2012 | $ | 3 | $ | 80 | $ | 83 | |||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||
Relating to assets held at September 30, 2012 | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Purchases, sales and settlements, net | (2 | ) | 6 | 4 | |||||||||||||||||||||
Transfers in (out) from other categories | — | (5 | ) | (5 | ) | ||||||||||||||||||||
Exchange rate changes | — | 1 | 1 | ||||||||||||||||||||||
Balance at September 30, 2013 | $ | 1 | $ | 81 | $ | 83 | |||||||||||||||||||
Postemployment Benefits | |||||||||||||||||||||||||
The Company utilizes a service-based approach in accounting for most of its postemployment benefits. Under this approach, the costs of benefits are recognized over the eligible employees’ service period. The Company has elected to delay recognition of actuarial gains and losses that result from changes in assumptions. | |||||||||||||||||||||||||
Postemployment benefit costs for the years ended September 30 included the following components: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Service cost | $ | 22 | $ | 16 | $ | 13 | |||||||||||||||||||
Interest cost | 6 | 6 | 5 | ||||||||||||||||||||||
Amortization of prior service credit | (2 | ) | (2 | ) | (2 | ) | |||||||||||||||||||
Amortization of loss | 21 | 16 | 10 | ||||||||||||||||||||||
Net postemployment benefit cost | $ | 47 | $ | 36 | $ | 27 | |||||||||||||||||||
The changes in benefit obligation for these postemployment benefits were as follows: | |||||||||||||||||||||||||
Postemployment benefits | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||
Beginning obligation | $ | 163 | $ | 138 | |||||||||||||||||||||
Service cost | 22 | 16 | |||||||||||||||||||||||
Interest cost | 6 | 6 | |||||||||||||||||||||||
Benefits paid | (29 | ) | (52 | ) | |||||||||||||||||||||
Actuarial loss | 25 | 55 | |||||||||||||||||||||||
Benefit obligation at September 30 | $ | 186 | $ | 163 | |||||||||||||||||||||
The postemployment benefit plan obligations as of September 30, 2013 and 2012 were unfunded. The amounts recognized in Accumulated other comprehensive (loss) income before income taxes for the net actuarial loss was $163 million and $158 million at September 30, 2013 and 2012, respectively. The estimated net actuarial loss that will be amortized from the Accumulated other comprehensive (loss) income into postemployment benefit cost over the next fiscal year is $19 million. | |||||||||||||||||||||||||
Savings Incentive Plan | |||||||||||||||||||||||||
The Company has a voluntary defined contribution plan (“Savings Incentive Plan”) covering eligible employees in the United States. The Company matches contributions for eligible employees to 75% of employees’ contributions, up to a maximum of 4.5% of each employee’s eligible compensation. The cost of the Savings Incentive Plan was $36 million in 2013, $36 million in 2012 and $37 million in 2011. The Company guarantees employees’ contributions to the fixed income fund of the Savings Incentive Plan, which consists of diversified money market instruments. The amount guaranteed was $246 million at September 30, 2013. |
Acquisitions
Acquisitions | 12 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisitions | ' | ||||
Note 9 — Acquisitions | |||||
Cato | |||||
On March 11, 2013, the Company acquired a 100% interest in Cato Software Solutions (“Cato”), a privately held Austria-based manufacturer of cato® and chemocato® software, a suite of comprehensive medication safety solutions for pharmacy intravenous medication preparation, physician therapy planning and nurse bedside documentation. This acquisition is an important element of the Company’s strategy to help customers eliminate medication errors and streamline workflows, and it expands the Company’s presence in the hospital pharmacy space. | |||||
The fair value of consideration transferred was $23 million, which included $14 million in cash, net of cash acquired, as well as $9 million in contingent consideration that will be paid based upon the achievement of certain revenue milestones. The fair value of the contingent consideration was estimated using a probability-weighted discounted cash flow model that was based upon the probabilities assigned to the contingent events. | |||||
The acquisition was accounted for under the acquisition method of accounting for business combinations, and Cato’s results of operations were included in the Medical segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2013 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available. | |||||
Developed technology | $ | 9 | |||
Other intangibles | 4 | ||||
Other assets | 1 | ||||
Total identifiable assets acquired | 14 | ||||
Liabilities assumed | (2 | ) | |||
Net identifiable assets acquired | 12 | ||||
Goodwill | 11 | ||||
Net assets acquired | $ | 23 | |||
The developed technology asset of $9 million represents Cato’s developed automated data sharing and creation system that is used in medication preparation and delivery. The technology’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 14.5%. The technology will be amortized over an expected useful life of 15 years, the period over which the technology is expected to generate substantial cash flows. | |||||
The $11 million of goodwill was allocated to the Medical segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer, as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition included, among other things, the Company’s ability to accelerate growth of the early-stage market for comprehensive pharmacy workflow solutions. Also, synergies are expected from complementing the Company’s existing safety-engineered products with Cato’s medication safety solution. No portion of this goodwill is currently expected to be deductible for tax purposes. The Company recognized $1 million of acquisition-related costs that were expensed in fiscal year 2013 and reported in the Consolidated Statements of Income as Selling and administrative expense. | |||||
Safety Syringes | |||||
On December 24, 2012, the Company acquired a 100% interest in Safety Syringes, Inc. (“Safety Syringes”), a privately held California-based company that specializes in the development of anti-needlestick devices for prefilled syringes. The intent of this acquisition was to broaden the Company’s existing healthcare worker safety offerings to include passive safety technologies. | |||||
The fair value of consideration transferred was $124 million, which included $124 million in cash, net of $1 million in cash acquired. The fair value of consideration transferred also included $0.4 million for the effective settlement of an intangible asset associated with a preexisting licensing arrangement the Company entered into with Safety Syringes in fiscal year 2005. The terms of the licensing arrangement were determined to represent fair value at the acquisition date, and as such, the Company did not record any gain or loss separately from the acquisition. | |||||
The acquisition was accounted for under the acquisition method of accounting for business combinations, and Safety Syringes’ results of operations were included in the Medical segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2013 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available. | |||||
Developed technology | $ | 69 | |||
Other intangibles | 5 | ||||
Property, plant and equipment, net | 7 | ||||
Trade receivables, net | 7 | ||||
Other | 7 | ||||
Total identifiable assets acquired | 93 | ||||
Liabilities assumed | (4 | ) | |||
Net identifiable assets acquired | 90 | ||||
Goodwill | 34 | ||||
Net assets acquired | $ | 124 | |||
The developed technology asset of $69 million represents Safety Syringes’ developed anti-needlestick technology. The technology’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 16%. The technology will be amortized over an expected useful life of 15 years, the period over which the technology is expected to generate substantial cash flows. | |||||
The $34 million of goodwill was allocated to the Medical segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer, as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition included, among other things, the synergies expected from complementing the Company’s existing healthcare safety offerings with passive anti-needlestick technologies. Additionally, synergies are expected to result from expanding the market for the passive anti-needlestick offerings through the Company’s broader global sales organization and customer relationships. This goodwill is expected to be deductible for tax purposes. The Company recognized $2 million of acquisition-related costs that were expensed in fiscal year 2013 and reported in the Consolidated Statements of Income as Selling and administrative expense. | |||||
Sirigen | |||||
On August 24, 2012, the Company acquired a 100% interest in Sirigen Group Limited (“Sirigen”), a developer of unique polymer dyes that are used in flow cytometry. The fair value of consideration transferred was $64 million which consisted of $53 million in cash, net of $1 million in cash acquired, as well as $12 million in contingent consideration that will be paid based upon the achievement of certain development milestones. The fair value of the contingent consideration was estimated using a probability-weighted discounted cash flow model that was based upon the probabilities assigned to the contingent events. The intent of this acquisition was to complement the Company’s existing instrument platforms and reagent portfolio and allow the Company to differentiate its life science research reagent portfolio and add value for customers. | |||||
The acquisition was accounted for under the acquisition method of accounting for business combinations and Sirigen’s results of operations were included in the Biosciences segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Patent | $ | 11 | |||
Developed technology | 19 | ||||
Acquired in-process research and development | 12 | ||||
Deferred tax assets | 3 | ||||
Other | 1 | ||||
Total identifiable assets acquired | 45 | ||||
Deferred tax liabilities | (14 | ) | |||
Other | (1 | ) | |||
Total liabilities assumed | (15 | ) | |||
Net identifiable assets acquired | 30 | ||||
Goodwill | 34 | ||||
Net assets acquired | $ | 64 | |||
The patent asset of $11 million represented Sirigen’s enabling technology that underlies both developed technology and in-process research and development projects. The patent’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 20%. The patent will be amortized over an expected useful life of 14 years. The developed technology asset of $19 million represented Sirigen’s developed polymer technology. The developed technology’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 22%. The developed technology will be amortized over an expected useful life of 16 years, the period over which the developed technology is expected to generate substantial cash flows. | |||||
The acquired in-process research and development asset of $12 million represented development projects of additional polymer dyes. The probability of success associated with the projects, based upon the applicable technological and commercial risk, was assumed to be 80% or more, depending upon the project. The projects’ fair value was determined based on the present value of projected cash flows utilizing an income approach and a risk-adjusted discount rate of 24% to 26%, depending upon the project. During the fourth quarter of fiscal year 2013, one of the polymer dye projects was completed, and, as a result, the $8 million associated with this project was reclassified from Other Intangibles, Net to Core and Developed Technology, Net and is being amortized over its estimated useful life of 16 years. Substantially all of the cash flows expected to be generated from the technology will occur over this period. | |||||
The $34 million of goodwill was allocated to the Biosciences segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition included, among other things, the synergies expected from complementing the Company’s instrument and reagent portfolio with the capabilities of Sirigen’s advanced polymer technology. Additionally, synergies are expected to result from expanding the market for the polymer technology through the Company’s broader global sales organization and customer relationships. No portion of this goodwill will be deductible for tax purposes. The Company recognized $1 million of acquisition-related costs that were expensed in fiscal year 2012 and reported in the Consolidated Statements of Income as Selling and administrative expense. | |||||
KIESTRA | |||||
On February 9, 2012, the Company acquired a 100% interest in KIESTRA Lab Automation BV (“KIESTRA”), a Netherlands-based company that manufactures and sells innovative lab automation solutions for the microbiology lab. The fair value of consideration transferred was $58 million which consisted of $49 million in cash, net of $5 million in cash acquired, as well as $9 million in contingent consideration that will be paid based upon the achievement of certain development milestones and performance targets. A purchase price adjustment of approximately $2 million was recorded in fiscal year 2013 to reflect the seller’s payment of a post-closing adjustment to net working capital. The fair value of the contingent consideration was estimated using a probability-weighted discounted cash flow model that was based upon the probabilities assigned to the contingent events. The intent of this acquisition was to complement the Company’s existing portfolio of microbiology platforms, reagents and supplies and allow the Company to offer innovative full lab automation solutions to hospitals and laboratories worldwide. | |||||
The acquisition was accounted for under the acquisition method of accounting for business combinations and KIESTRA’s results of operations were included in the Diagnostic segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Developed technology | $ | 13 | |||
Acquired in-process research and development | 7 | ||||
Other intangibles | 5 | ||||
Property, plant and equipment | 5 | ||||
Other | 10 | ||||
Total identifiable assets acquired | 40 | ||||
Deferred tax liabilities | (6 | ) | |||
Other | (12 | ) | |||
Total liabilities assumed | (18 | ) | |||
Net identifiable assets acquired | 22 | ||||
Goodwill | 35 | ||||
Net assets acquired | $ | 58 | |||
The developed technology asset of $13 million represented KIESTRA’s developed lab automation solutions. The technology’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 14.5%. The technology will be amortized over an expected useful life of 10 years, the period over which the technology is expected to generate substantial cash flows. | |||||
The acquired in-process research and development asset of $7 million represented development projects of the existing lab automation technology for use in diagnostic applications. The probability of success associated with the projects, based upon the applicable technological and commercial risk, was assumed to be 100%. The projects’ fair value was determined based on the present value of projected cash flows utilizing an income approach and a risk-adjusted discount rate of 15.5%. The projects are expected to be completed in fiscal year 2014. | |||||
The $35 million of goodwill was allocated to the Diagnostics segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition included, among other things, the value of integrating the Company’s broad clinical microbiology portfolio through automation for maximum workflow efficiency. Synergies are expected to result from the alignment of KIESTRA’s automated instrumentation technologies with the Company’s existing portfolio of microbiology platforms, reagents and supplies. Additionally, synergies are expected to result from expanding the market for full lab automation solutions into new geographic regions through the Company’s broader global sales organization and customer relationships. No portion of this goodwill will be deductible for tax purposes. The Company recognized $2 million of acquisition-related costs that were expensed in fiscal year 2012 and reported in the Consolidated Statements of Income as Selling and administrative expense. | |||||
Carmel Pharma | |||||
During the fourth quarter of fiscal year 2011, the Company acquired 100% of the outstanding shares of Carmel Pharma, AB (“Carmel”), a Swedish company that manufactures the BD PhaSeal™ System, a closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. The fair value of consideration transferred totaled $287 million, net of $5 million in cash acquired. The intent of this acquisition was to expand the scope of its healthcare worker safety emphasis, especially in the area of parenteral medication delivery. | |||||
The acquisition was accounted for under the acquisition method of accounting for business combinations and Carmel’s results of operations were included in the Medical segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Product rights | $ | 162 | |||
Customer relationships | 4 | ||||
Deferred tax assets | 2 | ||||
Other | 32 | ||||
Total identifiable assets acquired | 200 | ||||
Deferred tax liabilities | (45 | ) | |||
Other | (13 | ) | |||
Total liabilities assumed | (58 | ) | |||
Net identifiable assets acquired | 142 | ||||
Goodwill | 145 | ||||
Net assets acquired | $ | 287 | |||
The $145 million of goodwill was allocated to the Medical segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition included, among other things, the value of expanding the Company’s market for healthcare worker safety products. Synergies are expected to result from the alignment of Carmel’s product offerings in the closed-system drug transfer device market segment with the Company’s existing healthcare worker safety focus, global customer reach, and operational structure. No portion of this goodwill will be deductible for tax purposes. The Company recognized $5 million of acquisition-related costs that were expensed in fiscal year 2011 and reported in the Consolidated Statements of Income as Selling and administrative expense. | |||||
Accuri | |||||
On March 17, 2011, the Company acquired 100% of the outstanding shares of Accuri Cytometers, Inc. (“Accuri”), a company that develops and manufactures personal flow cytometers for researchers. The fair value of consideration transferred totaled $205 million, net of $3 million in cash acquired. | |||||
The intent of this acquisition was to expand its presence into the emerging affordable personal flow cytometer space. The acquisition was also intended to help expand the use of flow technology by researchers in developing regions where ease of use is critical, as well as by researchers in scientific disciplines that have not traditionally used flow cytometry, such as environmental studies. | |||||
The acquisition was accounted for under the acquisition method of accounting for business combinations and Accuri’s results of operations were included in the Biosciences segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Developed technology | $ | 112 | |||
Acquired in-process research and development | 42 | ||||
Other intangibles | 3 | ||||
Deferred tax assets | 11 | ||||
Other | 8 | ||||
Total identifiable assets acquired | 175 | ||||
Deferred tax liabilities | (59 | ) | |||
Other | (5 | ) | |||
Total liabilities assumed | (64 | ) | |||
Net identifiable assets acquired | 112 | ||||
Goodwill | 93 | ||||
Net assets acquired | $ | 205 | |||
The acquired in-process research and development asset of $42 million represented development of the personal flow cytometry technology that will enable its use in the clinical market. The fair value of this project was determined based on the present value of projected cash flows utilizing an income approach reflecting an appropriate risk-adjusted discount rate based on the applicable technological and commercial risk of the project. The launch of the personal flow cytometer for use in the clinical market is expected to occur in fiscal year 2015, subject to regulatory approvals. | |||||
The $93 million of goodwill was allocated to the Biosciences segment. The goodwill recognized as a result of this acquisition included, among other things, the value of broadening the Company’s potential market for flow cytometry technology. No portion of this goodwill will be deductible for tax purposes. The Company recognized $1 million of acquisition-related costs that were expensed in fiscal year 2011 and reported in the Consolidated Statements of Income as Selling and administrative expense. |
Divestitures
Divestitures | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
Divestitures | ' | ||||||||||||
Note 10 — Divestitures | |||||||||||||
On October 31, 2012, the Company completed the sale of its BD Biosciences — Discovery Labware unit, excluding its Advanced Bioprocessing platform, to Corning Incorporated. Gross cash proceeds from the sale were approximately $740 million, and the Company recognized a pre-tax gain on sale from this divestiture of $577 million. The after-tax gain recognized from this divestiture was $355 million. As a result of this divestiture, the Company derecognized $17 million of goodwill, allocated based upon the relative fair values of the disposed assets. | |||||||||||||
The Company agreed to perform some contract manufacturing and other transition services for a defined period after the sale; however, the Company will not have the ability to exert significant influence over the Discovery Labware disposal group after the sale, and cash flows associated with these activities are not expected to be material. The net cash flows from these activities are reported in the Consolidated Statements of Income as Other income (expense). | |||||||||||||
In connection with the sale of the Discovery Labware disposal group, the Company received an additional payment of approximately $16 million from the buyer in the third quarter of fiscal year 2013. In accordance with the terms of the Asset Purchase Agreement, the Company was entitled to receive this payment as reimbursement for additional tax costs to be incurred by the Company resulting from the joint election under Internal Revenue Code Section 338(h)(10) for the buyer to treat the acquisition as an asset purchase for federal tax purposes. The Company recorded the payment as additional proceeds from the sale and the resulting gain was recorded in discontinued operations in the third quarter of fiscal year 2013. | |||||||||||||
The results of operations associated with the Discovery Labware disposal group are reported as discontinued operations for all periods presented in the accompanying Consolidated Statements of Income and Cash Flows and related disclosures. | |||||||||||||
Results of discontinued operations were as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues | $ | 20 | $ | 238 | $ | 248 | |||||||
Income from discontinued operations before income taxes | 586 | 92 | 105 | ||||||||||
Less income tax provision | 222 | 31 | 35 | ||||||||||
Income from discontinued operations, net | $ | 364 | $ | 60 | $ | 70 | |||||||
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Intangible Assets | ' | ||||||||||||||||
Note 11 — Intangible Assets | |||||||||||||||||
Other intangible assets at September 30 consisted of: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||||||
Amount | Amount | ||||||||||||||||
Amortized intangible assets | |||||||||||||||||
Core and developed technology | $ | 942 | $ | 401 | $ | 857 | $ | 345 | |||||||||
Product rights | 167 | 24 | 163 | 12 | |||||||||||||
Patents, trademarks, and other | 349 | 254 | 326 | 240 | |||||||||||||
$ | 1,457 | $ | 679 | $ | 1,346 | $ | 597 | ||||||||||
Unamortized intangible assets | |||||||||||||||||
Acquired in-process research and development | $ | 54 | $ | 61 | |||||||||||||
Trademarks | 2 | 3 | |||||||||||||||
$ | 56 | $ | 64 | ||||||||||||||
Intangible amortization expense was $83 million, $71 million and $54 million in 2013, 2012 and 2011, respectively. The estimated aggregate amortization expense for the fiscal years ending September 30, 2014 to 2018 are as follows: 2014 — $84 million; 2015 — $83 million; 2016 — $79 million; 2017 — $78 million; 2018 — $75 million. |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||||
Note 12 — Derivative Instruments and Hedging Activities | |||||||||||||||||||||||||||
The Company uses derivative instruments to mitigate certain exposures. The effects these derivative instruments and hedged items have on financial position, financial performance and cash flows are provided below. | |||||||||||||||||||||||||||
Foreign Currency Risks and Related Strategies | |||||||||||||||||||||||||||
The Company has foreign currency exposures throughout Europe, Asia Pacific, Canada, Japan and Latin America. Transactional currency exposures that arise from entering into transactions, generally on an intercompany basis, in non-hyperinflationary countries that are denominated in currencies other than the functional currency are mitigated primarily through the use of forward contracts and currency options. Hedges of the transactional foreign exchange exposures resulting primarily from intercompany payables and receivables are undesignated hedges. As such, the gains or losses on these instruments are recognized immediately in income. The offset of these gains or losses against the gains and losses on the underlying hedged items, as well as the hedging costs associated with the derivative instruments, is recognized in Other income (expense). | |||||||||||||||||||||||||||
The total notional amounts of the Company’s outstanding foreign exchange contracts as of September 30, 2013 and 2012 were $2.2 billion and $2.0 billion, respectively. | |||||||||||||||||||||||||||
Interest Rate Risks and Related Strategies | |||||||||||||||||||||||||||
The Company’s primary interest rate exposure results from changes in U.S. dollar interest rates. The Company’s policy is to manage interest cost using a mix of fixed and variable rate debt. The Company periodically uses interest rate swaps to manage such exposures. Under these interest rate swaps, the Company exchanges, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. These swaps are designated as either fair value or cash flow hedges. | |||||||||||||||||||||||||||
For interest rate swaps designated as fair value hedges (i.e., hedges against the exposure to changes in the fair value of an asset or a liability or an identified portion thereof that is attributable to a particular risk), changes in the fair value of the interest rate swaps offset changes in the fair value of the fixed rate debt due to changes in market interest rates. | |||||||||||||||||||||||||||
Changes in the fair value of the interest rate swaps designated as cash flow hedges (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk) are offset by amounts recorded in Other comprehensive income (loss). If interest rate derivatives designated as cash flow hedges are terminated, the balance in Accumulated other comprehensive income (loss) attributable to those derivatives is reclassified into earnings over the remaining life of the hedged debt. The amount, related to terminated interest rate swaps, expected to be reclassified and recorded in Interest expense within the next 12 months is $5 million, net of tax. | |||||||||||||||||||||||||||
The total notional amount of the Company’s outstanding interest rate swaps designated as fair value hedges was $200 million at September 30, 2012. The outstanding swap represented a fixed-to-floating rate swap agreement that was entered into to convert the interest payments on $200 million in 4.55% notes, due April 15, 2013, from the fixed rate to a floating interest rate based on LIBOR. This swap was terminated, concurrent with the maturity of the underlying notes, in April 2013. Additional information related to the repayment of the underlying notes is included in Note 14. | |||||||||||||||||||||||||||
The Company had no outstanding interest rate swaps designated as cash flow hedges as of September 30, 2013 or as of September 30, 2012. | |||||||||||||||||||||||||||
Other Risk Exposures | |||||||||||||||||||||||||||
The Company purchases resins, which are oil-based components used in the manufacture of certain products. Significant increases in world oil prices that lead to increases in resin purchase costs could impact future operating results. From time to time, the Company has managed price risks associated with these commodity purchases. In July 2012, the Company entered into cash-settled forward contracts to hedge approximately 16% of its expected global resin purchase volumes in fiscal year 2013. These contracts were designated as cash flow hedges, and the total notional amount of these contracts at September 30, 2012 was $23 million. The Company had no outstanding commodity derivative contracts designated as cash flow hedges as of September 30, 2013. | |||||||||||||||||||||||||||
Effects on Consolidated Balance Sheets | |||||||||||||||||||||||||||
The location and amounts of derivative instrument fair values in the consolidated balance sheet are segregated below between designated, qualifying hedging instruments and ones that are not designated for hedge accounting. | |||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Asset derivatives-designated for hedge accounting | |||||||||||||||||||||||||||
Interest rate swap | $ | — | $ | 2 | |||||||||||||||||||||||
Asset derivatives-undesignated for hedge accounting | |||||||||||||||||||||||||||
Forward exchange contracts | $ | 13 | $ | 17 | |||||||||||||||||||||||
Total asset derivatives(A) | $ | 13 | $ | 20 | |||||||||||||||||||||||
Liability derivatives-designated for hedge accounting | |||||||||||||||||||||||||||
Commodity forward contracts | $ | — | $ | 2 | |||||||||||||||||||||||
Liability derivatives-undesignated for hedge accounting | |||||||||||||||||||||||||||
Forward exchange contracts | $ | 7 | $ | 17 | |||||||||||||||||||||||
Total liability derivatives(B) | $ | 7 | $ | 18 | |||||||||||||||||||||||
(A) | All asset derivatives are included in Prepaid expenses, deferred taxes and other. | ||||||||||||||||||||||||||
(B) | All liability derivatives are included in Accrued expenses. | ||||||||||||||||||||||||||
Effects on Consolidated Statements of Income | |||||||||||||||||||||||||||
Cash flow hedges | |||||||||||||||||||||||||||
The location and amount of gains and losses on designated derivative instruments recognized in the consolidated statement of income for the years ended September 30, consisted of: | |||||||||||||||||||||||||||
Derivatives Accounted | Gain (Loss) Recognized in OCI on | Location of Gain | Gain (Loss) Reclassified from | ||||||||||||||||||||||||
for as Designated | Derivatives, Net of Tax | (Loss) | Accumulated OCI into Income, | ||||||||||||||||||||||||
Cash Flow Hedging | Reclassified from | Net of Tax | |||||||||||||||||||||||||
Relationships | Accumulated OCI | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | into Income | 2013 | 2012 | 2011 | |||||||||||||||||||||
Interest rate swaps | — | 1 | (34 | ) | Interest expense | (5 | ) | (5 | ) | (1 | ) | ||||||||||||||||
Commodity forward contracts | 2 | (1 | ) | — | Cost of products sold | 1 | — | — | |||||||||||||||||||
Total | $ | 2 | $ | — | $ | (34 | ) | $ | (4 | ) | $ | (5 | ) | $ | (1 | ) | |||||||||||
In fiscal year 2011, a net unrealized loss of $34 million recorded in Other comprehensive income (loss) was attributable to interest rate swaps entered into during the fourth quarter of fiscal year 2011 to partially hedge interest rate risk associated with the anticipated issuance of $500 million of 5-year 1.75% notes and $1.0 billion of 10-year 3.125% notes in the first quarter of fiscal year 2012. These swaps were designated as hedges of the variability in interest payments attributable to changes in the benchmark interest rates against which the long-term debt was priced and they were terminated at a loss in November 2011, concurrent with the pricing of the notes. The unrealized losses on the interest rate swaps entered into during the fourth quarter of 2011 were partially offset by gains realized on interest rate swaps that were entered into in the first quarter of 2011 in anticipation of issuing $700 million of 10-year 3.25% notes and $300 million of 30-year 5.00% notes. These swaps were designated as hedges of the variability in interest payments attributable to changes in the benchmark interest rates against which the long-term debt was priced and they were terminated at a gain in November 2010, concurrent with the pricing of the notes. The realized gains and losses on the swaps terminated in both November 2011 and 2010 will be amortized over the lives of the notes with an offset to Interest expense. Additional disclosures regarding the issuance of debt in the first quarter of fiscal year 2012 are included in Note 14. | |||||||||||||||||||||||||||
The Company’s designated derivative instruments are highly effective. As such, there were no gains or losses, related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing, recognized immediately in income relative to these swaps for the years ended September 30, 2013, 2012 and 2011. | |||||||||||||||||||||||||||
Fair value hedge | |||||||||||||||||||||||||||
The location and amount of gains or losses on the hedged fixed rate debt attributable to changes in the market interest rates and the offsetting gain (loss) on the related interest rate swap for the years ended September 30 were as follows: | |||||||||||||||||||||||||||
Income Statement | Gain/(Loss) on Swap | Gain/(Loss) on Borrowings | |||||||||||||||||||||||||
Classification | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Other income (expense)(A) | $ | (2 | ) | $ | (4 | ) | $ | (3 | ) | $ | 2 | $ | 4 | $ | 3 | ||||||||||||
(A) | Changes in the fair value of the interest rate swap offset changes in the fair value of the fixed rate debt due to changes in market interest rates. There was no hedge ineffectiveness relating to this interest rate swap. | ||||||||||||||||||||||||||
Undesignated hedges | |||||||||||||||||||||||||||
The location and amount of gains and losses recognized in income on derivatives not designated for hedge accounting for the years ended September 30 were as follows: | |||||||||||||||||||||||||||
Derivatives Not | Location of Gain (Loss) | Amount of Gain (Loss) | |||||||||||||||||||||||||
Designated as | Recognized in Income on | Recognized in Income on | |||||||||||||||||||||||||
For Hedge Accounting | Derivatives | Derivative | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
Forward exchange contracts(B) | Other income (expense) | $ | (1 | ) | $ | (7 | ) | $ | (1 | ) | |||||||||||||||||
(B) | The gains and losses on forward contracts and currency options utilized to hedge the intercompany transactional foreign exchange exposures are largely offset by gains and losses on the underlying hedged items in Other (expense) income. |
Financial_Instruments_and_Fair
Financial Instruments and Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Financial Instruments and Fair Value Measurements | ' | ||||||||||||||||
Note 13 — Financial Instruments and Fair Value Measurements | |||||||||||||||||
Recurring Fair Value Measurements | |||||||||||||||||
The fair values of financial instruments, including those not recognized on the statement of financial position at fair value, carried at September 30, 2013 and 2012 are classified in accordance with the fair value hierarchy in the tables below: | |||||||||||||||||
Basis of Fair Value Measurement | |||||||||||||||||
September 30, | Quoted Prices in | Significant | Significant | ||||||||||||||
2013 | Active Markets | Other | Unobservable | ||||||||||||||
Total | for Identical | Observable | Inputs (Level 3) | ||||||||||||||
Assets (Level 1) | Inputs (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
Institutional money market investments | $ | 881 | $ | 881 | $ | — | $ | — | |||||||||
Forward exchange contracts | 13 | — | 13 | — | |||||||||||||
Total Assets | $ | 895 | $ | 881 | $ | 13 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Forward exchange contracts | $ | 7 | $ | — | $ | 7 | $ | — | |||||||||
Contingent consideration liabilities | 23 | — | — | 23 | |||||||||||||
Total Liabilities | $ | 30 | $ | — | $ | 7 | $ | 23 | |||||||||
Basis of Fair Value Measurement | |||||||||||||||||
September 30, | Quoted Prices in | Significant | Significant | ||||||||||||||
2012 | Active Markets | Other | Unobservable | ||||||||||||||
Total | for Identical | Observable | Inputs (Level 3) | ||||||||||||||
Assets (Level 1) | Inputs (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
Institutional money market investments | $ | 1,066 | $ | 1,066 | $ | — | $ | — | |||||||||
Forward exchange contracts | 17 | — | 17 | — | |||||||||||||
Interest rate swap | 2 | — | 2 | — | |||||||||||||
Total Assets | $ | 1,085 | $ | 1,066 | $ | 20 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Forward exchange contracts | $ | 17 | $ | — | $ | 17 | $ | — | |||||||||
Commodity forward contracts | 2 | — | 2 | — | |||||||||||||
Contingent consideration liabilities | 20 | — | — | 20 | |||||||||||||
Total Liabilities | $ | 38 | $ | — | $ | 18 | $ | 20 | |||||||||
The Company’s institutional money market accounts permit daily redemption and the fair values of these investments are based upon the quoted prices in active markets provided by the holding financial institutions. The Company’s remaining cash equivalents totaled $1.009 billion and $606 million at September 30, 2013 and 2012, respectively. Short-term investments are held to their maturities and are carried at cost, which approximates fair value. The cash equivalents consist of liquid investments with a maturity of three months or less and the short-term investments consist of instruments with maturities greater than three months and less than one year. | |||||||||||||||||
The Company measures the fair value of forward exchange contracts and currency options using an income approach with significant observable inputs, specifically spot currency rates, market designated forward currency prices and a discount rate. The fair value of interest rate swaps are provided by the financial institutions that are counterparties to these arrangements. | |||||||||||||||||
Long-term debt is recorded at amortized cost. The fair value of long-term debt is measured based upon quoted prices in active markets for similar instruments, which are considered Level 2 inputs in the fair value hierarchy. The fair value of long-term debt was $4.0 billion and $4.3 billion at September 30, 2013 and 2012, respectively. The fair value of $200 million of 4.55% notes due on April 15, 2013 that were repaid during the third quarter of fiscal year 2013 was $206 million at September 30, 2012. | |||||||||||||||||
The contingent consideration liabilities were recognized as part of the consideration transferred in the Company’s acquisitions of the following: KIESTRA, which occurred in the second quarter of fiscal year 2012; Sirigen, which occurred in the fourth quarter of fiscal year 2012; and Cato, which occurred in the second quarter of fiscal year 2013. The fair values of the contingent consideration liabilities were estimated using probability-weighted discounted cash flow models that were based upon the probabilities assigned to the contingent events. The estimated fair values of the contingent consideration liabilities are remeasured at each reporting period based upon increases or decreases in the probability of the contingent payments. The net fiscal year 2013 activity relating to the contingent consideration liabilities was immaterial. Additional disclosures regarding the contingent consideration liabilities are included in Note 9. | |||||||||||||||||
The Company’s policy is to recognize any transfers into fair value measurement hierarchy levels and transfers out of levels at the beginning of each reporting period. There were no transfers in and out of Level 1, Level 2 or Level 3 measurements for the years ending September 30, 2013 and 2012. | |||||||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||||||
In fiscal year 2011, the Company recorded an impairment charge of $9 million, which was recorded to Research and development expense, resulting from its discontinuance of a research program within the Diagnostic Systems unit. Based upon an assessment using significant unobservable inputs and the lack of alternative uses for these assets, the assets were determined to have no fair value. | |||||||||||||||||
Concentration of Credit Risk | |||||||||||||||||
The Company maintains cash deposits in excess of government-provided insurance limits. Such cash deposits are exposed to loss in the event of nonperformance by financial institutions. Substantially all of the Company’s trade receivables are due from public and private entities involved in the healthcare industry. Due to the large size and diversity of the Company’s customer base, concentrations of credit risk with respect to trade receivables are limited. The Company does not normally require collateral. The Company is exposed to credit loss in the event of nonperformance by financial institutions with which it conducts business. However, this loss is limited to the amounts, if any, by which the obligations of the counterparty to the financial instrument contract exceed the obligations of the Company. The Company also minimizes exposure to credit risk by dealing with a diversified group of major financial institutions. | |||||||||||||||||
Accounts receivable balances include sales to government-owned or government-supported healthcare facilities in several countries, which are subject to delays. Payment is dependent upon the financial stability and creditworthiness of those countries’ national economies. Deteriorated credit and economic conditions in parts of Western Europe, particularly in Italy and Spain, may continue to increase the average length of time it takes the Company to collect its accounts receivable in certain regions within these countries. Outstanding governmental receivable balances, net of reserves, in Italy and Spain at September 30, 2013 were $73 million and $61 million, respectively. Outstanding governmental receivable balances, net of reserves, in Italy and Spain at September 30, 2012 were $71 million and $43 million, respectively. | |||||||||||||||||
The Company continually evaluates all governmental receivables for potential collection risks associated with the availability of government funding and reimbursement practices. The Company believes the current reserves related to all governmental receivables are adequate and that this concentration of credit risk will not have a material adverse impact on its financial position or liquidity. |
Debt
Debt | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Debt | ' | ||||||||||||
Note 14 — Debt | |||||||||||||
Short-term debt at September 30 consisted of: | |||||||||||||
2013 | 2012 | ||||||||||||
Loans Payable | |||||||||||||
Domestic | $ | 200 | $ | 200 | |||||||||
Foreign | 7 | 3 | |||||||||||
Current portion of long-term debt | — | 202 | |||||||||||
$ | 207 | $ | 405 | ||||||||||
In the third quarter of fiscal year 2013, the Company repaid $200 million of 4.55% notes due on April 15, 2013. | |||||||||||||
Domestic loans payable consist of commercial paper. Foreign loans payable consist of short-term borrowings from financial institutions. The weighted average interest rates for short-term debt were 0.51% and 1.35% at September 30, 2013 and 2012, respectively. The Company has available a $1 billion syndicated credit facility with an expiration date of May 2017. This credit facility provides backup support for the commercial paper program and can also be used for other general corporate purposes. The credit facility includes a provision that enables the Company, subject to additional commitments made by the lenders, to access up to an additional $500 million in financing through the facility, for a maximum aggregate commitment of $1.5 billion. The credit facility also includes a restrictive covenant that requires a minimum interest coverage ratio, with which the Company was in compliance at September 30, 2013. There were no borrowings outstanding under the facility at September 30, 2013. In addition, the Company had short-term foreign lines of credit pursuant to informal arrangements of approximately $176 million at September 30, 2013, almost all of which was unused. | |||||||||||||
On November 3, 2011, the Company issued $500 million of 5-year 1.75% notes and $1 billion of 10-year 3.125% notes. The net proceeds from these issuances were used for general corporate purposes, which included funding for working capital, capital expenditures, repurchases of the Company’s common stock and acquisitions. | |||||||||||||
Long-Term Debt at September 30 consisted of: | |||||||||||||
2013 | 2012 | ||||||||||||
1.75% Notes due November 8, 2016 | 498 | 497 | |||||||||||
4.90% Notes due April 15, 2018 | 203 | 204 | |||||||||||
5.00% Notes due May 15, 2019 | 496 | 495 | |||||||||||
3.25% Notes due November 12, 2020 | 696 | 696 | |||||||||||
3.125% Notes due November 8, 2021 | 993 | 992 | |||||||||||
7.00% Debentures due August 1, 2027 | 168 | 168 | |||||||||||
6.70% Debentures due August 1, 2028 | 167 | 167 | |||||||||||
6.00% Notes due May 15, 2039 | 246 | 245 | |||||||||||
5.00% Notes due November 12, 2040 | 296 | 296 | |||||||||||
$ | 3,763 | $ | 3,761 | ||||||||||
The aggregate annual maturities of long-term debt during the fiscal years ending September 30, 2014 to 2018 are as follows: 2014 — $0; 2015 — $0; 2016 — $0; 2017 — $500 million; 2018 — $200 million. | |||||||||||||
The Company capitalizes interest costs as a component of the cost of construction in progress. A summary of interest costs and payments for the years ended September 30 is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Charged to operations | $ | 138 | $ | 135 | $ | 84 | |||||||
Capitalized | 33 | 34 | 38 | ||||||||||
Total interest costs | $ | 171 | $ | 169 | $ | 122 | |||||||
Interest paid, net of amounts capitalized | $ | 143 | $ | 119 | $ | 68 | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||
Income Taxes | ' | ||||||||||||||||
Note 15 — Income Taxes | |||||||||||||||||
The provision for income taxes from continuing operations for the years ended September 30 consisted of: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Current: | |||||||||||||||||
Federal | $ | 206 | $ | 164 | $ | 168 | |||||||||||
State and local, including Puerto Rico | (1 | ) | 10 | 21 | |||||||||||||
Foreign | 179 | 241 | 211 | ||||||||||||||
$ | 384 | $ | 415 | $ | 400 | ||||||||||||
Deferred: | |||||||||||||||||
Domestic | $ | (152 | ) | $ | (29 | ) | $ | (15 | ) | ||||||||
Foreign | 3 | (23 | ) | 32 | |||||||||||||
(149 | ) | (52 | ) | 17 | |||||||||||||
$ | 236 | $ | 363 | $ | 417 | ||||||||||||
The components of Income From Continuing Operations Before Income Taxes for the years ended September 30 consisted of: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Domestic, including Puerto Rico | $ | 288 | $ | 605 | $ | 843 | |||||||||||
Foreign | 877 | 868 | 775 | ||||||||||||||
$ | 1,165 | $ | 1,472 | $ | 1,618 | ||||||||||||
Deferred tax assets and liabilities are netted on the balance sheet by separate tax jurisdictions. At September 30, 2013 and 2012, net current deferred tax assets of $343 million and $178 million, respectively, were included in Prepaid expenses, deferred taxes and other. Net non-current deferred tax assets of $73 million and $127 million, respectively, were included in Other Assets. Net current deferred tax liabilities of $8 million and $4 million, respectively, were included in Current Liabilities — Income taxes. Net non-current deferred tax liabilities of $203 million and $72 million, respectively, were included in Deferred Income Taxes and Other. Deferred taxes are not provided on undistributed earnings of foreign subsidiaries that are indefinitely reinvested. At September 30, 2013, the cumulative amount of such undistributed earnings indefinitely reinvested outside the United States was $4.4 billion. Determining the tax liability that would arise if these earnings were remitted is not practicable. Deferred taxes are provided for earnings outside the United States when those earnings are not considered indefinitely reinvested. | |||||||||||||||||
The table below summarizes the gross amounts of unrecognized tax benefits without regard to reduction in tax liabilities or additions to deferred tax assets and liabilities if such unrecognized tax benefits were settled. The Company expects no significant increases or decreases in the amount of the unrecognized tax benefits to occur within the next twelve months. | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Balance at October 1 | $ | 143 | $ | 126 | $ | 82 | |||||||||||
Increase due to current year tax positions | 64 | 37 | 38 | ||||||||||||||
Increase due to prior year tax positions | 25 | 2 | 11 | ||||||||||||||
Decreases due to prior year tax positions | (12 | ) | (3 | ) | (2 | ) | |||||||||||
Decrease due to settlements and lapse of statute of limitations | (87 | ) | (19 | ) | (3 | ) | |||||||||||
Balance at September 30 | $ | 134 | $ | 143 | $ | 126 | |||||||||||
The total amount of unrecognized tax benefits, if recognized, would favorably impact the effective tax rate. Accrued interest and penalties of $8 million, $10 million and $9 million at September 30, 2013, 2012 and 2011, respectively, are not included in the table above. During the fiscal years ended September 30, 2013, 2012 and 2011, the Company reported interest and penalties associated with unrecognized tax benefits of $2 million, $1 million and $1 million on the Consolidated Statements of Income as a component of Income tax provision. | |||||||||||||||||
The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress in a number of tax jurisdictions. The IRS has completed its audit for the tax years through 2011. For the Company’s other major tax jurisdictions where it conducts business, the Company’s tax years are generally open after 2007. | |||||||||||||||||
Deferred income taxes at September 30 consisted of: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Compensation and benefits | $ | 478 | $ | — | $ | 606 | $ | — | |||||||||
Property and equipment | — | 468 | — | 446 | |||||||||||||
Loss and credit carryforwards | 308 | — | 181 | — | |||||||||||||
Other | 399 | 229 | 266 | 219 | |||||||||||||
1,185 | 697 | 1,053 | 665 | ||||||||||||||
Valuation allowance | (284 | ) | — | (159 | ) | — | |||||||||||
$ | 901 | $ | 697 | $ | 894 | $ | 665 | ||||||||||
Generally, deferred tax assets have been established as a result of net operating losses and credit carryforwards with expiration dates from 2014 to an unlimited expiration date. Valuation allowances have been established as a result of an evaluation of the uncertainty associated with the realization of certain deferred tax assets on these losses and credit carryforwards. The change in the valuation allowance for 2013 is primarily the result of foreign losses due to the Company’s global re-organization of its foreign entities and these generally have no expiration date. Valuation allowances are also maintained with respect to deferred tax assets for certain federal and state carryforwards that may not be realized and that principally expire between 2014 and 2018. | |||||||||||||||||
A reconciliation of the federal statutory tax rate to the Company’s effective tax rate was as follows: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||||||
State and local income taxes, net of federal tax benefit | (1.2 | ) | 0.2 | 1.2 | |||||||||||||
Effect of foreign and Puerto Rico earnings and foreign tax credits | (9.7 | ) | (8.2 | ) | (7.5 | ) | |||||||||||
Effect of Research Credits and Domestic Production Activities, | (3.8 | ) | (1.7 | ) | (2.7 | ) | |||||||||||
Other, net | (0.1 | ) | (0.7 | ) | (0.2 | ) | |||||||||||
20.2 | % | 24.6 | % | 25.8 | % | ||||||||||||
The approximate amounts of tax reductions related to tax holidays in various countries in which the Company does business were $95 million, $83 million and $60 million, in 2013, 2012 and 2011, respectively. The tax holidays expire at various dates through 2026. | |||||||||||||||||
The Company made income tax payments, net of refunds, of $454 million in 2013, $218 million in 2012 and $512 million in 2011. |
Supplemental_Financial_Informa
Supplemental Financial Information | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||||||
Supplemental Financial Information | ' | ||||||||||||||||||||
Note 16 — Supplemental Financial Information | |||||||||||||||||||||
Other Income (Expense), Net | |||||||||||||||||||||
Other income (expense), net in 2013 was $9 million, which included net cash flows of $11 million from contract manufacturing and other transition services relating to the Company’s sale of Discovery Labware in the first quarter of fiscal year 2013. Additional disclosures regarding this divestiture are included in Note 10. Other income (expense), net in 2013 also included equity investment net income and proceeds from investments of $5 million, income from license and other agreements of $3 million as well as gains recognized on the sale of assets of $1 million. These amounts were partially offset by foreign exchange losses (inclusive of hedging costs) of $(10) million. | |||||||||||||||||||||
Other income (expense), net in 2012 was $(1) million, which primarily included equity investment net income and proceeds from investments of $12 million as well as income from license and other agreements of $5 million. These amounts were partially offset by foreign exchange losses (inclusive of hedging costs) of $(19) million. | |||||||||||||||||||||
Other income (expense), net in 2011 was $(7) million, which primarily included gains recognized on the sale of assets of $2 million, equity investment net income of $3 million and income from license and other agreements of $4 million, partially offset by foreign exchange losses (inclusive of hedging costs) of $(13) million and the write-down of investments of $(3) million. | |||||||||||||||||||||
Trade Receivables, Net | |||||||||||||||||||||
Allowances for doubtful accounts and cash discounts netted against trade receivables were $50 million and $45 million at September 30, 2013 and 2012, respectively. The amounts recognized in 2013, 2012 and 2011 relating to these valuation accounts are provided in the following table: | |||||||||||||||||||||
Allowance for | Allowance for | Total | |||||||||||||||||||
Doubtful | Cash Discounts | ||||||||||||||||||||
Accounts | |||||||||||||||||||||
Balance at September 30, 2010 | $ | 40 | $ | 6 | $ | 46 | |||||||||||||||
Additions charged to costs and expenses | 13 | 26 | 39 | ||||||||||||||||||
Deductions and other | (17 | )(A) | (24 | ) | (42 | ) | |||||||||||||||
Balance at September 30, 2011 | $ | 36 | $ | 8 | $ | 43 | |||||||||||||||
Additions charged to costs and expenses | 6 | 39 | 45 | ||||||||||||||||||
Deductions and other | (6 | )(A) | (37 | ) | (44 | ) | |||||||||||||||
Balance at September 30, 2012 | $ | 36 | $ | 9 | $ | 45 | |||||||||||||||
Additions charged to costs and expenses | 9 | 40 | 49 | ||||||||||||||||||
Deductions and other | (3 | )(A) | (41 | ) | (44 | ) | |||||||||||||||
Balance at September 30, 2013 | $ | 41 | $ | 9 | $ | 50 | |||||||||||||||
(A) | Accounts written off. | ||||||||||||||||||||
Inventories | |||||||||||||||||||||
Inventories at September 30 consisted of: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Materials | $ | 226 | $ | 201 | |||||||||||||||||
Work in process | 258 | 247 | |||||||||||||||||||
Finished products | 918 | 793 | |||||||||||||||||||
$ | 1,402 | $ | 1,241 | ||||||||||||||||||
Property, Plant and Equipment, Net | |||||||||||||||||||||
Property, Plant and Equipment, Net at September 30 consisted of: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Land | $ | 97 | $ | 102 | |||||||||||||||||
Buildings | 2,286 | 2,194 | |||||||||||||||||||
Machinery, equipment and fixtures | 4,970 | 4,669 | |||||||||||||||||||
Leasehold improvements | 85 | 80 | |||||||||||||||||||
7,437 | 7,046 | ||||||||||||||||||||
Less accumulated depreciation and amortization | 3,961 | 3,742 | |||||||||||||||||||
$ | 3,476 | $ | 3,304 | ||||||||||||||||||
Becton, Dickinson and Company | |||||||||||||||||||||
SUPPLEMENTARY DATA (UNAUDITED) | |||||||||||||||||||||
Millions of dollars, except per share amounts | 2013 | ||||||||||||||||||||
1st | 2nd | 3rd | 4th | Year | |||||||||||||||||
Revenues | $ | 1,900 | $ | 2,000 | $ | 2,053 | $ | 2,101 | $ | 8,054 | |||||||||||
Gross Profit | 1,006 | 1,018 | 1,060 | 1,086 | 4,171 | ||||||||||||||||
Income from Continuing Operations | 270 | 276 | 292 | 91 | 929 | ||||||||||||||||
Net Income | 625 | 276 | 302 | 91 | 1,293 | ||||||||||||||||
Earnings per Share: | |||||||||||||||||||||
Income from Continuing Operations | 1.38 | 1.42 | 1.5 | 0.47 | 4.76 | ||||||||||||||||
Income from Discontinued Operations | 1.81 | — | 0.05 | — | 1.86 | ||||||||||||||||
Basic Earnings per Share | 3.18 | 1.42 | 1.55 | 0.46 | 6.63 | ||||||||||||||||
Income from Continuing Operations | 1.35 | 1.39 | 1.47 | 0.46 | 4.67 | ||||||||||||||||
Income from Discontinued Operations | 1.78 | — | 0.05 | — | 1.83 | ||||||||||||||||
Diluted Earnings per Share | 3.13 | 1.39 | 1.52 | 0.46 | 6.49 | ||||||||||||||||
2012 | |||||||||||||||||||||
1st | 2nd | 3rd | 4th | Year | |||||||||||||||||
Revenues | $ | 1,832 | $ | 1,929 | $ | 1,981 | $ | 1,967 | $ | 7,708 | |||||||||||
Gross Profit | 931 | 988 | 1,033 | 1,001 | 3,953 | ||||||||||||||||
Income from Continuing Operations | 249 | 275 | 312 | 274 | 1,110 | ||||||||||||||||
Net Income | 263 | 291 | 327 | 289 | 1,170 | ||||||||||||||||
Earnings per Share: | |||||||||||||||||||||
Income from Continuing Operations | 1.16 | 1.33 | 1.54 | 1.38 | 5.4 | ||||||||||||||||
Income from Discontinued Operations | 0.07 | 0.08 | 0.08 | 0.07 | 0.29 | ||||||||||||||||
Basic Earnings per Share | 1.23 | 1.41 | 1.62 | 1.45 | 5.69 | ||||||||||||||||
Income from Continuing Operations | 1.14 | 1.31 | 1.52 | 1.35 | 5.3 | ||||||||||||||||
Income from Discontinued Operations | 0.07 | 0.08 | 0.07 | 0.07 | 0.29 | ||||||||||||||||
Diluted Earnings per Share | 1.21 | 1.39 | 1.59 | 1.43 | 5.59 | ||||||||||||||||
Certain quarterly amounts may not add to the year-to-date totals due to rounding. Earnings per share amounts are calculated from the underlying whole-dollar amounts. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying Consolidated Financial Statements and Notes to Consolidated Financial Statements of Becton, Dickinson and Company (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles. Within the financial statements and tables presented, certain columns and rows may not add due to the use of rounded numbers for disclosure purposes. Percentages and earnings per share amounts presented are calculated from the underlying whole-dollar amounts. | |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the Company’s accounts and those of its majority-owned subsidiaries after the elimination of intercompany transactions. The Company has no material interests in variable interest entities. | |
Cash Equivalents | ' |
Cash Equivalents | |
Cash equivalents consist of all highly liquid investments with a maturity of three months or less at time of purchase. | |
Short-Term Investments | ' |
Short-Term Investments | |
Short-term investments consist of time deposits with maturities greater than three months and less than one year when purchased. | |
Inventories | ' |
Inventories | |
Inventories are stated at the lower of first-in, first-out cost or market. | |
Property, Plant and Equipment | ' |
Property, Plant and Equipment | |
Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are principally provided on the straight-line basis over estimated useful lives, which range from 20 to 45 years for buildings, four to 13 years for machinery and equipment and one to 12 years for leasehold improvements. Depreciation and amortization expense was $338 million, $321 million and $340 million in fiscal years 2013, 2012 and 2011, respectively. | |
Goodwill and Other Intangible Assets | ' |
Goodwill and Other Intangible Assets | |
The Company’s unamortized intangible assets include goodwill and in-process research and development assets which arise from acquisitions. The Company currently reviews all indefinite-lived assets, including goodwill, for impairment using quantitative models. Goodwill is reviewed at least annually for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. The Company’s reporting units generally represent one level below reporting segments, and components within an operating segment that have similar economic characteristics are aggregated. Potential impairment of goodwill is identified by comparing the fair value of a reporting unit, estimated using an income approach, with its carrying value. The annual impairment review performed in fiscal year 2013 indicated that all identified reporting units’ fair values exceeded their respective carrying values. | |
The review for impairment of in-process research and development assets is performed by comparing the fair value of the technology or project assets, estimated using an income approach, with their carrying value. In-process research and development assets are considered indefinite-lived assets and are reviewed at least annually for impairment until projects are completed or abandoned. Certain trademarks that are considered to generate cash flows indefinitely are also considered to be indefinite-lived intangible assets and these assets are also reviewed at least annually for impairment. | |
Amortized intangible assets include core and developed technology assets which arise from acquisitions. These assets represent acquired intellectual property that is already technologically feasible upon the acquisition date or acquired in-process research and development assets that are completed subsequent to acquisition. Core and developed technology assets are generally amortized over periods ranging from 15 to 20 years, using the straight-line method. Other intangibles with finite useful lives, which include patents, are amortized over periods principally ranging from one to 40 years, using the straight-line method. Finite-lived intangible assets, including core and developed technology assets, are periodically reviewed when impairment indicators are present to assess recoverability from future operations using undiscounted cash flows. The carrying values of these finite-lived assets are compared to the undiscounted cash flows they are expected to generate and an impairment loss is recognized in operating results to the extent any finite-lived intangible asset’s carrying value exceeds its calculated fair value. | |
Capitalized Software | ' |
Capitalized Software | |
Capitalized software, including costs for software developed or obtained for internal use, is stated at cost, less accumulated amortization. Amortization expense is principally provided on the straight-line basis over estimated useful lives, which do not exceed 10 years. The current balance largely includes capital software investments related to a global enterprise resource planning initiative to upgrade the Company’s business information systems. Amortization for this project commenced in the third quarter of fiscal year 2012. Amortization expense related to capitalized software was $38 million, $36 million and $23 million for 2013, 2012 and 2011, respectively. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
Generally, foreign subsidiaries’ functional currency is the local currency of operations and the net assets of foreign operations are translated into U.S. dollars using current exchange rates. The U.S. dollar results that arise from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the foreign currency translation adjustments in Accumulated other comprehensive (loss) income. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue from product sales is typically recognized when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; product price is fixed or determinable; collection of the resulting receivable is reasonably assured. The Company recognizes revenue for certain instruments sold from the Biosciences segment upon installation at a customer’s site, as installation of these instruments is considered a significant post-delivery obligation. For certain instrument sales arrangements, primarily in the U.S., with multiple deliverables, revenue and cost of products sold are recognized at the completion of each deliverable: instrument shipment, installation and training. Installation and training typically occur within one month after an instrument is shipped. These sales agreements are divided into separate units of accounting and revenue is recognized upon the completion of each deliverable based on its relative selling price. The relative selling prices of installation and training are determined based on the prices at which these deliverables would be regularly sold on a standalone basis. The relative selling prices of instruments are based on estimated selling prices. These estimates represent the quoted sales contract price in each arrangement. | |
The Company’s domestic businesses sell products primarily to distributors that resell the products to end-user customers. Rebates are provided to distributors that sell to end-user customers at prices determined under a contract between the Company and the end-user customer. Provisions for rebates, as well as sales discounts and returns, are based upon estimates and are accounted for as a reduction of revenues when revenue is recognized. | |
Shipping and Handling Costs | ' |
Shipping and Handling Costs | |
Shipping and handling costs are included in Selling and administrative expense. Shipping expense was $285 million, $281 million and $269 million in 2013, 2012 and 2011, respectively. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments | |
All derivatives are recorded in the balance sheet at fair value and changes in fair value are recognized currently in earnings unless specific hedge accounting criteria are met. | |
From time to time, derivative financial instruments are utilized by the Company in the management of its foreign currency, interest rate and commodity price exposures. The Company periodically purchases forward contracts and options to hedge certain forecasted transactions that are denominated in foreign currencies in order to partially protect against a reduction in the value of future earnings resulting from adverse foreign exchange rate movements. The Company also periodically utilizes interest rate swaps to maintain a balance between fixed and floating rate instruments. Additionally, the Company has managed price risks associated with resin purchase costs through commodity derivative forward contracts. The Company does not enter into derivative financial instruments for trading or speculative purposes. | |
Any deferred gains or losses associated with derivative instruments are recognized in income in the period in which the underlying hedged transaction is recognized. In the event a designated hedged item is sold, extinguished or matures prior to the termination of the related derivative instrument, such instrument would be closed and the resultant gain or loss would be recognized in income. | |
Income Taxes | ' |
Income Taxes | |
United States income taxes are not provided on undistributed earnings of foreign subsidiaries where such undistributed earnings are indefinitely reinvested outside the United States. Deferred taxes are provided for earnings of foreign subsidiaries when those earnings are not considered indefinitely reinvested. Income taxes are provided and tax credits are recognized based on tax laws enacted at the dates of the financial statements. | |
The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress in a number of tax jurisdictions. In evaluating the exposure associated with various tax filing positions, the Company records accruals for uncertain tax positions, based on the technical support for the positions, past audit experience with similar situations, and the potential interest and penalties related to the matters. | |
The Company maintains valuation allowances where it is more likely than not that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances are included in the tax provision in the period of change. In determining whether a valuation allowance is warranted, management evaluates factors such as prior earnings history, expected future earnings, carryback and carryforward periods and tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset. | |
Earnings per Share | ' |
Earnings per Share | |
Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions. These estimates or assumptions affect reported assets, liabilities, revenues and expenses as reflected in the consolidated financial statements. Actual results could differ from these estimates. | |
Share-Based Compensation | ' |
Share-Based Compensation | |
The Company recognizes the fair value of share-based compensation in net income. Compensation expense is recognized on a straight-line basis over the requisite service period, which is generally the vesting period. | |
Change in Accounting Principles | ' |
Change in Accounting Principles | |
In July 2012, the FASB amended the impairment testing requirements for indefinite-lived intangible assets to allow entities the option to qualitatively assess indefinite-lived intangible assets for impairment. Further testing of indefinite-lived intangible assets for impairment under the traditional quantitative model is only required if an entity determines, through the qualitative assessment, that it is more likely than not that the carrying amount of an indefinite-lived intangible asset exceeds its fair value. The revised impairment testing requirements are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company adopted the revised requirements, which did not impact its consolidated financial statements, for its fiscal year 2013 indefinite-lived intangible asset impairment review processes. | |
In February 2013, the Financial Accounting Standards Board issued guidance to expand the reporting requirements for amounts reclassified out of accumulated other comprehensive income. These requirements are effective, on a prospective basis, for all reporting periods beginning after December 15, 2012. The Company adopted the revised presentation requirements, which did not impact the recognition of items in its consolidated financial statements, on March 31, 2013. | |
ASC 450-20 recognition guidelines | ' |
Given the uncertain nature of litigation generally, the Company is not able in all cases to estimate the amount or range of loss that could result from an unfavorable outcome of the litigation to which the Company is a party. In accordance with U.S. generally accepted accounting principles, the Company establishes accruals to the extent probable future losses are estimable (in the case of environmental matters, without considering possible third-party recoveries). In view of the uncertainties discussed below, the Company could incur charges in excess of any currently established accruals and, to the extent available, excess liability insurance. In the opinion of management, any such future charges, individually or in the aggregate, could have a material adverse effect on the Company’s consolidated results of operations and consolidated cash flows. | |
ASC 820 fair value disclosures | ' |
The Company measures the fair value of forward exchange contracts and currency options using an income approach with significant observable inputs, specifically spot currency rates, market designated forward currency prices and a discount rate. The fair value of interest rate swaps are provided by the financial institutions that are counterparties to these arrangements. | |
Long-term debt is recorded at amortized cost. The fair value of long-term debt is measured based upon quoted prices in active markets for similar instruments, which are considered Level 2 inputs in the fair value hierarchy. The fair value of long-term debt was $4.0 billion and $4.3 billion at September 30, 2013 and 2012, respectively. The fair value of $200 million of 4.55% notes due on April 15, 2013 that were repaid during the third quarter of fiscal year 2013 was $206 million at September 30, 2012. | |
The Company’s policy is to recognize any transfers into fair value measurement hierarchy levels and transfers out of levels at the beginning of each reporting period. There were no transfers in and out of Level 1, Level 2 or Level 3 measurements for the years ending September 30, 2013 and 2012. |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Changes in Certain Components of Shareholders' Equity | ' | ||||||||||||||||||||||||
Changes in certain components of shareholders’ equity were as follows: | |||||||||||||||||||||||||
Common | Capital in | Retained | Deferred | Treasury Stock | |||||||||||||||||||||
Stock Issued | Excess of | Earnings | Compensation | ||||||||||||||||||||||
at Par Value | Par Value | Shares (in | Amount | ||||||||||||||||||||||
thousands) | |||||||||||||||||||||||||
Balance at September 30, 2010 | $ | 333 | $ | 1,625 | $ | 8,724 | $ | 17 | (102,846 | ) | $ | (4,806 | ) | ||||||||||||
Net income | 1,271 | ||||||||||||||||||||||||
Cash dividends: | |||||||||||||||||||||||||
Common ($1.64 per share) | (362 | ) | |||||||||||||||||||||||
Common stock issued for: | |||||||||||||||||||||||||
Share-based compensation plans, net | 95 | 3,432 | 28 | ||||||||||||||||||||||
Share-based compensation | 73 | ||||||||||||||||||||||||
Common stock held in trusts, net | 2 | 3 | (2 | ) | |||||||||||||||||||||
Repurchase of common stock | (18,434 | ) | (1,500 | ) | |||||||||||||||||||||
Balance at September 30, 2011 | $ | 333 | $ | 1,793 | $ | 9,634 | $ | 19 | (117,844 | ) | $ | (6,280 | ) | ||||||||||||
Net income | 1,170 | ||||||||||||||||||||||||
Cash dividends: | |||||||||||||||||||||||||
Common ($1.80 per share) | (368 | ) | |||||||||||||||||||||||
Common stock issued for: | |||||||||||||||||||||||||
Share-based compensation plans, net | 39 | 1,973 | 11 | ||||||||||||||||||||||
Share-based compensation | 88 | ||||||||||||||||||||||||
Common stock held in trusts, net | 66 | ||||||||||||||||||||||||
Repurchase of common stock | (19,945 | ) | (1,500 | ) | |||||||||||||||||||||
Balance at September 30, 2012 | $ | 333 | $ | 1,920 | $ | 10,435 | $ | 19 | (135,751 | ) | $ | (7,769 | ) | ||||||||||||
Net income | 1,293 | ||||||||||||||||||||||||
Cash dividends: | |||||||||||||||||||||||||
Common ($1.98 per share) | (386 | ) | |||||||||||||||||||||||
Common stock issued for: | |||||||||||||||||||||||||
Share-based compensation plans, net | 50 | 2,537 | 15 | ||||||||||||||||||||||
Share-based compensation | 98 | ||||||||||||||||||||||||
Common stock held in trusts, net | 36 | ||||||||||||||||||||||||
Repurchase of common stock | (5,485 | ) | (450 | ) | |||||||||||||||||||||
Balance at September 30, 2013 | $ | 333 | $ | 2,068 | $ | 11,342 | $ | 19 | (138,663 | ) | $ | (8,204 | ) | ||||||||||||
Accumulated Other Comprehensive (Loss) Income | ' | ||||||||||||||||||||||||
The components and changes of Accumulated other comprehensive (loss) income were as follows: | |||||||||||||||||||||||||
Total | Foreign | Benefit Plans | Unrealized | ||||||||||||||||||||||
Currency | Adjustments(A) | Losses on | |||||||||||||||||||||||
Translation | Cash Flow | ||||||||||||||||||||||||
Adjustments | Hedges(B) | ||||||||||||||||||||||||
Balance at September 30, 2012 | $ | (802 | ) | $ | 51 | $ | (815 | ) | $ | (38 | ) | ||||||||||||||
Other comprehensive income before reclassifications | 228 | 23 | 203 | 2 | |||||||||||||||||||||
Amounts reclassified into income(C) | 59 | — | 54 | 4 | |||||||||||||||||||||
Balance at September 30, 2013 | $ | (516 | ) | $ | 74 | $ | (558 | ) | $ | (31 | ) | ||||||||||||||
(A) | The reclassifications from accumulated other comprehensive income (loss) are included in the computation of net periodic pension cost and additional details are provided in Note 8. The reclassification amounts for the fiscal years ended September 30, 2012 and 2011 were $40 million and $43 million, respectively. Amounts are net of taxes. | ||||||||||||||||||||||||
(B) | The reclassification amounts for the fiscal years ended September 30, 2012 and 2011 were $5 million and $1 million, respectively. Additional details regarding the reclassifications from accumulated other comprehensive income (loss) related to cash flow hedges are provided in Note 12. Amounts are net of taxes. | ||||||||||||||||||||||||
(C) | The benefit plan-related amount is not reclassified into income in its entirety. The reclassification amount for cash flow hedges consists of $5 million related to interest rate swaps that was recorded in Interest expense and $(1) million related to commodity forward contracts that was recorded in Costs of products sold. |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Weighted Average Common Shares Used in Computations of Basic and Diluted Earnings Per Share | ' | ||||||||||||
The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) for the years ended September 30 were as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Average common shares outstanding | 195,157 | 205,460 | 221,175 | ||||||||||
Dilutive share equivalents from share-based plans | 4,036 | 3,721 | 5,105 | ||||||||||
Average common and common equivalent shares outstanding — assuming dilution | 199,193 | 209,181 | 226,280 | ||||||||||
Segment_Data_Tables
Segment Data (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Financial Information for Company's Segments | ' | ||||||||||||
Distribution of products is primarily through independent distribution channels, and directly to end-users by BD and independent sales representatives. No customer accounted for 10% or more of revenues in any of the three years presented. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues(A) | |||||||||||||
Medical | $ | 4,306 | $ | 4,091 | $ | 4,007 | |||||||
Diagnostics | 2,646 | 2,538 | 2,480 | ||||||||||
Biosciences | 1,102 | 1,080 | 1,096 | ||||||||||
$ | 8,054 | $ | 7,708 | $ | 7,584 | ||||||||
Segment Operating Income | |||||||||||||
Medical | $ | 1,233 | $ | 1,162 | $ | 1,181 | |||||||
Diagnostics | 638 | 653 | 636 | ||||||||||
Biosciences | 269 | 262 | 278 | ||||||||||
Total Segment Operating Income | 2,140 | 2,077 | 2,096 | ||||||||||
Unallocated Expenses(B) | (976 | )(D) | (605 | ) | (478 | ) | |||||||
Income From Continuing Operations Before Income Taxes | $ | 1,165 | $ | 1,472 | $ | 1,618 | |||||||
Segment Assets | |||||||||||||
Medical | $ | 4,582 | $ | 4,245 | $ | 3,928 | |||||||
Diagnostics | 2,571 | 2,462 | 2,270 | ||||||||||
Biosciences | 1,205 | 1,407 | 1,332 | ||||||||||
Total Segment Assets | 8,357 | 8,114 | 7,530 | ||||||||||
Corporate and All Other(C) | 3,792 | 3,247 | 2,900 | ||||||||||
$ | 12,149 | $ | 11,361 | $ | 10,430 | ||||||||
Capital Expenditures | |||||||||||||
Medical | $ | 354 | $ | 363 | $ | 367 | |||||||
Diagnostics | 142 | 101 | 93 | ||||||||||
Biosciences | 16 | 14 | 31 | ||||||||||
Corporate and All Other | 9 | 10 | 18 | ||||||||||
$ | 522 | $ | 487 | $ | 509 | ||||||||
Depreciation and Amortization | |||||||||||||
Medical | $ | 259 | $ | 240 | $ | 248 | |||||||
Diagnostics | 190 | 175 | 163 | ||||||||||
Biosciences | 77 | 79 | 67 | ||||||||||
Corporate and All Other | 19 | 18 | 16 | ||||||||||
$ | 546 | $ | 511 | $ | 494 | ||||||||
(A) | Intersegment revenues are not material. | ||||||||||||
(B) | Includes primarily interest, net; foreign exchange; corporate expenses; and share-based compensation expense. | ||||||||||||
(C) | Includes cash and investments and corporate assets. | ||||||||||||
(D) | Includes the $341 million charge associated with the unfavorable verdict returned in the antitrust and false advertising lawsuit filed against the Company by RTI as well as the $22 million charge associated with the pending litigation settlement related to indirect purchaser antitrust class action cases. Additional disclosures regarding these matters are provided in Note 5. | ||||||||||||
Revenues by Organizational Units | ' | ||||||||||||
Revenues by Organizational Units | 2013 | 2012 | 2011 | ||||||||||
BD Medical | |||||||||||||
Medical Surgical Systems | $ | 2,196 | $ | 2,105 | $ | 2,082 | |||||||
Diabetes Care | 969 | 911 | 866 | ||||||||||
Pharmaceutical Systems | 1,142 | 1,074 | 1,059 | ||||||||||
4,306 | 4,091 | 4,007 | |||||||||||
BD Diagnostics | |||||||||||||
Preanalytical Systems | 1,352 | 1,301 | 1,278 | ||||||||||
Diagnostic Systems | 1,294 | 1,237 | 1,203 | ||||||||||
2,646 | 2,538 | 2,480 | |||||||||||
BD Biosciences | 1,102 | 1,080 | 1,096 | ||||||||||
$ | 8,054 | $ | 7,708 | $ | 7,584 | ||||||||
Revenues to Unaffiliated Customers and Long-lived Assets Including Property, Plant and Equipment | ' | ||||||||||||
Revenues to unaffiliated customers are based upon the source of the product shipment. Long-lived assets, which include net property, plant and equipment, are based upon physical location. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues | |||||||||||||
United States | $ | 3,353 | $ | 3,288 | $ | 3,248 | |||||||
Europe | 2,512 | 2,379 | 2,431 | ||||||||||
Asia Pacific | 1,006 | 883 | 793 | ||||||||||
Other | 1,183 | 1,159 | 1,113 | ||||||||||
$ | 8,054 | $ | 7,708 | $ | 7,584 | ||||||||
Long-Lived Assets | |||||||||||||
United States | $ | 3,251 | $ | 3,156 | $ | 3,140 | |||||||
Europe | 1,667 | 1,559 | 1,461 | ||||||||||
Asia Pacific | 442 | 397 | 300 | ||||||||||
Other | 565 | 624 | 591 | ||||||||||
Corporate | 350 | 303 | 270 | ||||||||||
$ | 6,276 | $ | 6,039 | $ | 5,762 | ||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Compensation Cost Relating to Share-Based Payments | ' | ||||||||||||||||
The amounts and location of compensation cost relating to share-based payments included in consolidated statements of income is as follows: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost of products sold | $ | 20 | $ | 18 | $ | 14 | |||||||||||
Selling and administrative expense | 66 | 59 | 50 | ||||||||||||||
Research and development expense | 14 | 12 | 9 | ||||||||||||||
$ | 100 | $ | 89 | $ | 73 | ||||||||||||
Assumptions for Estimation of Fair Values of Stock Appreciation Rights Granted During Reporting Periods | ' | ||||||||||||||||
The fair value was estimated on the date of grant using a lattice-based binomial option valuation model that uses the following weighted-average assumptions: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Risk-free interest rate | 1.33% | 1.67% | 2.40% | ||||||||||||||
Expected volatility | 21.00% | 22.00% | 24.00% | ||||||||||||||
Expected dividend yield | 2.60% | 2.50% | 2.14% | ||||||||||||||
Expected life | 8.0 years | 7.9 years | 7.8 years | ||||||||||||||
Fair value derived | $12.08 | $12.61 | $16.80 | ||||||||||||||
Summary of SARs Outstanding | ' | ||||||||||||||||
A summary of SARs outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
SARs (in | Weighted | Weighted | Aggregate | ||||||||||||||
thousands) | Average | Average | Intrinsic | ||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||
Contractual Term | |||||||||||||||||
(Years) | |||||||||||||||||
Balance at October 1 | 9,782 | $ | 72.28 | ||||||||||||||
Granted | 1,524 | 76.18 | |||||||||||||||
Exercised | (2,351 | ) | 69.82 | ||||||||||||||
Forfeited, canceled or expired | (361 | ) | 75.08 | ||||||||||||||
Balance at September 30 | 8,594 | $ | 73.52 | 6.37 | $ | 228 | |||||||||||
Vested and expected to vest at September 30 | 8,268 | $ | 73.46 | 6.3 | $ | 220 | |||||||||||
Exercisable at September 30 | 5,331 | $ | 72.51 | 5.26 | $ | 147 | |||||||||||
Summary of Stock Options Outstanding | ' | ||||||||||||||||
A summary of stock options outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
Stock | Weighted | Weighted Average | Aggregate | ||||||||||||||
Options (in | Average | Remaining | Intrinsic | ||||||||||||||
thousands) | Exercise Price | Contractual Term | Value | ||||||||||||||
(Years) | |||||||||||||||||
Balance at October 1 | 1,969 | $ | 44.06 | ||||||||||||||
Exercised | (1,507 | ) | 42.65 | ||||||||||||||
Forfeited, canceled or expired | (27 | ) | 30.87 | ||||||||||||||
Balance at September 30 | 435 | $ | 49.74 | 0.84 | $ | 22 | |||||||||||
Vested at September 30 | 435 | $ | 49.74 | 0.84 | $ | 22 | |||||||||||
Exercisable at September 30 | 435 | $ | 49.74 | 0.84 | $ | 22 | |||||||||||
Summary of Performance-Based Restricted Stock Units Outstanding | ' | ||||||||||||||||
A summary of performance-based restricted stock units outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
Stock Units (in | Weighted | ||||||||||||||||
thousands) | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Balance at October 1 | 2,185 | $ | 75.24 | ||||||||||||||
Granted | 523 | 72.14 | |||||||||||||||
Distributed | — | — | |||||||||||||||
Forfeited or canceled | (1,057 | ) | 75.41 | ||||||||||||||
Balance at September 30(A) | 1,651 | $ | 74.15 | ||||||||||||||
Expected to vest at September 30(B) | 573 | $ | 73.06 | ||||||||||||||
(A) | Based on 200% of target payout. | ||||||||||||||||
(B) | Net of expected forfeited units and units in excess of the expected performance payout of 91 thousand and 987 thousand shares, respectively. | ||||||||||||||||
Summary of Time-Vested Restricted Stock Units Outstanding | ' | ||||||||||||||||
A summary of time-vested restricted stock units outstanding as of September 30, 2013 and changes during the year then ended is as follows: | |||||||||||||||||
Stock Units (in | Weighted | ||||||||||||||||
thousands) | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Balance at October 1 | 2,390 | $ | 72.79 | ||||||||||||||
Granted | 1,210 | 70.99 | |||||||||||||||
Distributed | (457 | ) | 73.85 | ||||||||||||||
Forfeited or canceled | (355 | ) | 72.97 | ||||||||||||||
Balance at September 30 | 2,787 | $ | 71.81 | ||||||||||||||
Expected to vest at September 30 | 2,509 | $ | 71.81 | ||||||||||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Net Pension and Other Postretirement Cost | ' | ||||||||||||||||||||||||
Net pension and other postretirement cost for the years ended September 30 included the following components: | |||||||||||||||||||||||||
Pension Plans | Other Postretirement Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Service cost | $ | 84 | $ | 75 | $ | 89 | $ | 6 | $ | 6 | $ | 6 | |||||||||||||
Interest cost | 87 | 91 | 93 | 10 | 13 | 13 | |||||||||||||||||||
Expected return on plan assets | (116 | ) | (104 | ) | (103 | ) | — | — | — | ||||||||||||||||
Amortization of prior service credit | (13 | ) | (11 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | |||||||||||||
Amortization of loss | 75 | 56 | 56 | 4 | 5 | 4 | |||||||||||||||||||
Curtailment/settlement loss | 6 | 20 | 1 | — | (1 | ) | — | ||||||||||||||||||
Net pension and postretirement cost | $ | 123 | $ | 128 | $ | 134 | $ | 19 | $ | 21 | $ | 23 | |||||||||||||
Change in Benefit Obligation, Change in Fair Value of Plan Assets | ' | ||||||||||||||||||||||||
The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Consolidated Balance Sheets for these plans were as follows: | |||||||||||||||||||||||||
Pension Plans | Other Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||
Beginning obligation | $ | 2,308 | $ | 1,996 | $ | 267 | $ | 269 | |||||||||||||||||
Service cost | 84 | 75 | 6 | 6 | |||||||||||||||||||||
Interest cost | 87 | 91 | 10 | 13 | |||||||||||||||||||||
Plan amendments | (23 | ) | (124 | ) | — | (5 | ) | ||||||||||||||||||
Benefits paid | (153 | ) | (124 | ) | (28 | ) | (27 | ) | |||||||||||||||||
Actuarial (gain) loss | (217 | ) | 439 | (21 | ) | 5 | |||||||||||||||||||
Settlements | (13 | ) | (45 | ) | — | — | |||||||||||||||||||
Other, includes translation | 5 | — | 8 | 6 | |||||||||||||||||||||
Benefit obligation at September 30 | $ | 2,076 | $ | 2,308 | $ | 243 | $ | 267 | |||||||||||||||||
Change in fair value of plan assets: | |||||||||||||||||||||||||
Beginning fair value | $ | 1,573 | $ | 1,353 | $ | — | $ | — | |||||||||||||||||
Actual return on plan assets | 200 | 223 | — | — | |||||||||||||||||||||
Employer contribution | 174 | 166 | — | — | |||||||||||||||||||||
Benefits paid | (153 | ) | (124 | ) | — | — | |||||||||||||||||||
Settlements | (13 | ) | (45 | ) | — | — | |||||||||||||||||||
Other, includes translation | 3 | 1 | — | — | |||||||||||||||||||||
Plan assets at September 30 | $ | 1,785 | $ | 1,573 | $ | — | $ | — | |||||||||||||||||
Funded Status at September 30: | |||||||||||||||||||||||||
Unfunded benefit obligation | $ | (292 | ) | $ | (734 | ) | $ | (243 | ) | $ | (267 | ) | |||||||||||||
Amounts recognized in the Consolidated Balance Sheets at September 30: | |||||||||||||||||||||||||
Other | $ | 12 | $ | — | $ | — | $ | — | |||||||||||||||||
Salaries, wages and related items | (6 | ) | (6 | ) | (18 | ) | (18 | ) | |||||||||||||||||
Long-term Employee Benefit Obligations | (299 | ) | (728 | ) | (225 | ) | (250 | ) | |||||||||||||||||
Net amount recognized | $ | (292 | ) | $ | (734 | ) | $ | (243 | ) | $ | (267 | ) | |||||||||||||
Amounts recognized in Accumulated other comprehensive (loss) income before income taxes at September 30: | |||||||||||||||||||||||||
Net transition asset | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Prior service credit | 133 | 122 | 9 | 10 | |||||||||||||||||||||
Net actuarial loss | (774 | ) | (1,153 | ) | (46 | ) | (71 | ) | |||||||||||||||||
Net amount recognized | $ | (641 | ) | $ | (1,030 | ) | $ | (37 | ) | $ | (61 | ) | |||||||||||||
Pension Plans with Accumulated Benefit Obligations | ' | ||||||||||||||||||||||||
Pension plans with accumulated benefit obligations in excess of plan assets and plans with projected benefit obligations in excess of plan assets consist of the following at September 30: | |||||||||||||||||||||||||
Accumulated Benefit | Projected Benefit | ||||||||||||||||||||||||
Obligation Exceeds the | Obligation Exceeds the | ||||||||||||||||||||||||
Fair Value of Plan Assets | Fair Value of Plan Assets | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Projected benefit obligation | $ | 1,551 | $ | 2,055 | $ | 1,855 | $ | 2,307 | |||||||||||||||||
Accumulated benefit obligation | $ | 1,525 | $ | 2,000 | |||||||||||||||||||||
Fair value of plan assets | $ | 1,285 | $ | 1,364 | $ | 1,551 | $ | 1,573 | |||||||||||||||||
Weighted Average Assumptions Determining Pension Plan | ' | ||||||||||||||||||||||||
The weighted average assumptions used in determining pension plan information were as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net Cost | |||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||
U.S. plans(A) | 3.9 | % | 4.9 | %(B) | 5.2 | % | |||||||||||||||||||
Foreign plans | 3.94 | 5.26 | 4.68 | ||||||||||||||||||||||
Expected return on plan assets: | |||||||||||||||||||||||||
U.S. plans | 7.75 | 7.75 | 8 | ||||||||||||||||||||||
Foreign plans | 5.68 | 6.06 | 6.31 | ||||||||||||||||||||||
Rate of compensation increase: | |||||||||||||||||||||||||
U.S. plans(A) | 4.25 | 4.25 | 4.5 | ||||||||||||||||||||||
Foreign plans | 3.28 | 3.61 | 3.56 | ||||||||||||||||||||||
Benefit Obligation | |||||||||||||||||||||||||
Discount rate: | |||||||||||||||||||||||||
U.S. plans | 4.95 | (C) | 3.9 | (A) | 4.9 | (A) | |||||||||||||||||||
Foreign plans | 3.87 | 3.94 | 5.26 | ||||||||||||||||||||||
Rate of compensation increase: | |||||||||||||||||||||||||
U.S. plans(A) | 4.25 | 4.25 | 4.25 | ||||||||||||||||||||||
Foreign plans | 2.46 | 3.28 | 3.61 | ||||||||||||||||||||||
(A) | Also used to determine other postretirement and postemployment benefit plan information. | ||||||||||||||||||||||||
(B) | On November 30, 2011, the Company remeasured its U.S. defined benefit pension plan based upon a 5.10% discount rate compared to the discount rate of 4.90% used on September 30, 2011. All other U.S. plans remained at 4.90%. | ||||||||||||||||||||||||
(C) | The discount rates used to determine other postretirement and postemployment benefit plan information were 4.40% and 4.00%, respectively. | ||||||||||||||||||||||||
Expected Benefit Payments | ' | ||||||||||||||||||||||||
Expected benefit payments are as follows: | |||||||||||||||||||||||||
Pension | Other | ||||||||||||||||||||||||
Plans | Postretirement | ||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||
2014 | $ | 134 | $ | 18 | |||||||||||||||||||||
2015 | 142 | 18 | |||||||||||||||||||||||
2016 | 146 | 18 | |||||||||||||||||||||||
2017 | 150 | 18 | |||||||||||||||||||||||
2018 | 155 | 18 | |||||||||||||||||||||||
2019-2023 | 840 | 90 | |||||||||||||||||||||||
Fair Value Measurements of U.S. Plan Assets | ' | ||||||||||||||||||||||||
The following table provides the fair value measurements of U.S. plan assets, as well as the measurement techniques and inputs utilized to measure fair value of these assets, at September 30, 2013 and 2012. The categorization of fund investments is based upon the categorization of these funds’ underlying assets. | |||||||||||||||||||||||||
Total U.S. | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Mortgage and asset-backed securities | $ | 174 | $ | — | $ | 174 | $ | — | |||||||||||||||||
Corporate bonds | 217 | 102 | 115 | — | |||||||||||||||||||||
Government and agency-U.S. | 142 | 97 | 46 | — | |||||||||||||||||||||
Government and agency-Foreign | 122 | 74 | 49 | — | |||||||||||||||||||||
Equity securities | 384 | 62 | 322 | — | |||||||||||||||||||||
Cash and cash equivalents | 3 | 3 | — | — | |||||||||||||||||||||
Other | 193 | 97 | 84 | 12 | |||||||||||||||||||||
Fair value of plan assets | $ | 1,235 | $ | 435 | $ | 788 | $ | 12 | |||||||||||||||||
Total U.S. | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Mortgage and asset-backed securities | $ | 137 | $ | — | $ | 137 | $ | — | |||||||||||||||||
Corporate bonds | 107 | — | 107 | — | |||||||||||||||||||||
Government and agency-U.S. | 75 | 57 | 17 | — | |||||||||||||||||||||
Government and agency-Foreign | 6 | — | 6 | — | |||||||||||||||||||||
Other | 9 | — | 9 | — | |||||||||||||||||||||
Equity securities | 724 | 640 | 85 | — | |||||||||||||||||||||
Cash and cash equivalents | 49 | 49 | — | — | |||||||||||||||||||||
Fair value of plan assets | $ | 1,107 | $ | 746 | $ | 361 | $ | — | |||||||||||||||||
Changes in Fair Value of Foreign Pension Assets Measured Using Level 3 Inputs | ' | ||||||||||||||||||||||||
The following table summarizes the changes, for the years ended September 30, 2013 and 2012, in the fair value of foreign pension assets measured using Level 3 inputs: | |||||||||||||||||||||||||
Real | Insurance | Total | |||||||||||||||||||||||
Estate | Contracts | Assets | |||||||||||||||||||||||
Balance at September 30, 2011 | $ | 11 | $ | 78 | $ | 89 | |||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||
Relating to assets held at September 30, 2011 | — | 3 | 3 | ||||||||||||||||||||||
Purchases, sales and settlements, net | (2 | ) | 1 | — | |||||||||||||||||||||
Transfers in (out) from other categories | (6 | ) | — | (6 | ) | ||||||||||||||||||||
Exchange rate changes | — | (3 | ) | (3 | ) | ||||||||||||||||||||
Balance at September 30, 2012 | $ | 3 | $ | 80 | $ | 83 | |||||||||||||||||||
Actual return on plan assets: | |||||||||||||||||||||||||
Relating to assets held at September 30, 2012 | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Purchases, sales and settlements, net | (2 | ) | 6 | 4 | |||||||||||||||||||||
Transfers in (out) from other categories | — | (5 | ) | (5 | ) | ||||||||||||||||||||
Exchange rate changes | — | 1 | 1 | ||||||||||||||||||||||
Balance at September 30, 2013 | $ | 1 | $ | 81 | $ | 83 | |||||||||||||||||||
Fair Value Measurements of Foreign Plan Assets | ' | ||||||||||||||||||||||||
The following table provides the fair value measurements of foreign plan assets, as well as the measurement techniques and inputs utilized to measure fair value of these assets, at September 30, 2013 and 2012. | |||||||||||||||||||||||||
Total Foreign | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Corporate bonds | $ | 46 | $ | — | $ | 46 | $ | — | |||||||||||||||||
Government and agency-U.S. | 3 | 3 | — | — | |||||||||||||||||||||
Government and agency-Foreign | 82 | 47 | 36 | — | |||||||||||||||||||||
Equity securities | 309 | 294 | 14 | — | |||||||||||||||||||||
Cash and cash equivalents | 17 | 17 | — | — | |||||||||||||||||||||
Real estate | 11 | — | 9 | 1 | |||||||||||||||||||||
Insurance contracts | 81 | — | — | 81 | |||||||||||||||||||||
Fair value of plan assets | $ | 549 | $ | 361 | $ | 105 | $ | 83 | |||||||||||||||||
Total Foreign | Quoted Prices in | Significant | Significant | ||||||||||||||||||||||
Plan Asset | Active Markets | Other | Unobservable | ||||||||||||||||||||||
Balances at | for Identical | Observable | Inputs (Level 3) | ||||||||||||||||||||||
September 30, | Assets (Level 1) | Inputs (Level 2) | |||||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Fixed Income: | |||||||||||||||||||||||||
Corporate bonds | $ | 37 | $ | — | $ | 37 | $ | — | |||||||||||||||||
Government and agency-U.S. | 3 | 3 | — | — | |||||||||||||||||||||
Government and agency-Foreign | 76 | 35 | 40 | — | |||||||||||||||||||||
Equity securities | 244 | 230 | 15 | — | |||||||||||||||||||||
Cash and cash equivalents | 17 | 17 | — | — | |||||||||||||||||||||
Real estate | 9 | — | 6 | 3 | |||||||||||||||||||||
Insurance contracts | 80 | — | — | 80 | |||||||||||||||||||||
Fair value of plan assets | $ | 466 | $ | 286 | $ | 98 | $ | 83 | |||||||||||||||||
Postemployment Benefit Costs | ' | ||||||||||||||||||||||||
Postemployment benefit costs for the years ended September 30 included the following components: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Service cost | $ | 22 | $ | 16 | $ | 13 | |||||||||||||||||||
Interest cost | 6 | 6 | 5 | ||||||||||||||||||||||
Amortization of prior service credit | (2 | ) | (2 | ) | (2 | ) | |||||||||||||||||||
Amortization of loss | 21 | 16 | 10 | ||||||||||||||||||||||
Net postemployment benefit cost | $ | 47 | $ | 36 | $ | 27 | |||||||||||||||||||
Changes in Benefit Obligation for Postemployment Benefits | ' | ||||||||||||||||||||||||
The changes in benefit obligation for these postemployment benefits were as follows: | |||||||||||||||||||||||||
Postemployment benefits | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||
Beginning obligation | $ | 163 | $ | 138 | |||||||||||||||||||||
Service cost | 22 | 16 | |||||||||||||||||||||||
Interest cost | 6 | 6 | |||||||||||||||||||||||
Benefits paid | (29 | ) | (52 | ) | |||||||||||||||||||||
Actuarial loss | 25 | 55 | |||||||||||||||||||||||
Benefit obligation at September 30 | $ | 186 | $ | 163 | |||||||||||||||||||||
U.S. Plans [Member] | ' | ||||||||||||||||||||||||
Changes in Fair Value of Foreign Pension Assets Measured Using Level 3 Inputs | ' | ||||||||||||||||||||||||
The following table summarizes the changes, for the year ended September 30, 2013, in the fair value of U.S. pension assets measured using Level 3 inputs: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
(Hedge | |||||||||||||||||||||||||
Funds) | |||||||||||||||||||||||||
Balance at September 30, 2012 | $ | — | |||||||||||||||||||||||
Purchases, sales and settlements, net | 12 | ||||||||||||||||||||||||
Balance at September 30, 2013 | $ | 12 | |||||||||||||||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||
Sep. 30, 2013 | |||||
Cato [Member] | ' | ||||
Fair Value of Assets and Liabilities Assumed | ' | ||||
These fair values are based upon the information available as of September 30, 2013 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available. | |||||
Developed technology | $ | 9 | |||
Other intangibles | 4 | ||||
Other assets | 1 | ||||
Total identifiable assets acquired | 14 | ||||
Liabilities assumed | (2 | ) | |||
Net identifiable assets acquired | 12 | ||||
Goodwill | 11 | ||||
Net assets acquired | $ | 23 | |||
Safety Syringes [Member] | ' | ||||
Fair Value of Assets and Liabilities Assumed | ' | ||||
These fair values are based upon the information available as of September 30, 2013 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available. | |||||
Developed technology | $ | 69 | |||
Other intangibles | 5 | ||||
Property, plant and equipment, net | 7 | ||||
Trade receivables, net | 7 | ||||
Other | 7 | ||||
Total identifiable assets acquired | 93 | ||||
Liabilities assumed | (4 | ) | |||
Net identifiable assets acquired | 90 | ||||
Goodwill | 34 | ||||
Net assets acquired | $ | 124 | |||
Sirigen Group Limited [Member] | ' | ||||
Fair Value of Assets and Liabilities Assumed | ' | ||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Patent | $ | 11 | |||
Developed technology | 19 | ||||
Acquired in-process research and development | 12 | ||||
Deferred tax assets | 3 | ||||
Other | 1 | ||||
Total identifiable assets acquired | 45 | ||||
Deferred tax liabilities | (14 | ) | |||
Other | (1 | ) | |||
Total liabilities assumed | (15 | ) | |||
Net identifiable assets acquired | 30 | ||||
Goodwill | 34 | ||||
Net assets acquired | $ | 64 | |||
KIESTRA Lab Automation BV [Member] | ' | ||||
Fair Value of Assets and Liabilities Assumed | ' | ||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Developed technology | $ | 13 | |||
Acquired in-process research and development | 7 | ||||
Other intangibles | 5 | ||||
Property, plant and equipment | 5 | ||||
Other | 10 | ||||
Total identifiable assets acquired | 40 | ||||
Deferred tax liabilities | (6 | ) | |||
Other | (12 | ) | |||
Total liabilities assumed | (18 | ) | |||
Net identifiable assets acquired | 22 | ||||
Goodwill | 35 | ||||
Net assets acquired | $ | 58 | |||
Carmel Pharma [Member] | ' | ||||
Fair Value of Assets and Liabilities Assumed | ' | ||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Product rights | $ | 162 | |||
Customer relationships | 4 | ||||
Deferred tax assets | 2 | ||||
Other | 32 | ||||
Total identifiable assets acquired | 200 | ||||
Deferred tax liabilities | (45 | ) | |||
Other | (13 | ) | |||
Total liabilities assumed | (58 | ) | |||
Net identifiable assets acquired | 142 | ||||
Goodwill | 145 | ||||
Net assets acquired | $ | 287 | |||
Accuri Cytometers, Inc [Member] | ' | ||||
Fair Value of Assets and Liabilities Assumed | ' | ||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||
Developed technology | $ | 112 | |||
Acquired in-process research and development | 42 | ||||
Other intangibles | 3 | ||||
Deferred tax assets | 11 | ||||
Other | 8 | ||||
Total identifiable assets acquired | 175 | ||||
Deferred tax liabilities | (59 | ) | |||
Other | (5 | ) | |||
Total liabilities assumed | (64 | ) | |||
Net identifiable assets acquired | 112 | ||||
Goodwill | 93 | ||||
Net assets acquired | $ | 205 | |||
Divestitures_Tables
Divestitures (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
Results of Discontinued Operations | ' | ||||||||||||
Results of discontinued operations were as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues | $ | 20 | $ | 238 | $ | 248 | |||||||
Income from discontinued operations before income taxes | 586 | 92 | 105 | ||||||||||
Less income tax provision | 222 | 31 | 35 | ||||||||||
Income from discontinued operations, net | $ | 364 | $ | 60 | $ | 70 | |||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Components of Other Intangible Assets | ' | ||||||||||||||||
Other intangible assets at September 30 consisted of: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Carrying | Amortization | Carrying | Amortization | ||||||||||||||
Amount | Amount | ||||||||||||||||
Amortized intangible assets | |||||||||||||||||
Core and developed technology | $ | 942 | $ | 401 | $ | 857 | $ | 345 | |||||||||
Product rights | 167 | 24 | 163 | 12 | |||||||||||||
Patents, trademarks, and other | 349 | 254 | 326 | 240 | |||||||||||||
$ | 1,457 | $ | 679 | $ | 1,346 | $ | 597 | ||||||||||
Unamortized intangible assets | |||||||||||||||||
Acquired in-process research and development | $ | 54 | $ | 61 | |||||||||||||
Trademarks | 2 | 3 | |||||||||||||||
$ | 56 | $ | 64 | ||||||||||||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Effects on Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||
Effects on Consolidated Balance Sheets | |||||||||||||||||||||||||||
The location and amounts of derivative instrument fair values in the consolidated balance sheet are segregated below between designated, qualifying hedging instruments and ones that are not designated for hedge accounting. | |||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Asset derivatives-designated for hedge accounting | |||||||||||||||||||||||||||
Interest rate swap | $ | — | $ | 2 | |||||||||||||||||||||||
Asset derivatives-undesignated for hedge accounting | |||||||||||||||||||||||||||
Forward exchange contracts | $ | 13 | $ | 17 | |||||||||||||||||||||||
Total asset derivatives(A) | $ | 13 | $ | 20 | |||||||||||||||||||||||
Liability derivatives-designated for hedge accounting | |||||||||||||||||||||||||||
Commodity forward contracts | $ | — | $ | 2 | |||||||||||||||||||||||
Liability derivatives-undesignated for hedge accounting | |||||||||||||||||||||||||||
Forward exchange contracts | $ | 7 | $ | 17 | |||||||||||||||||||||||
Total liability derivatives(B) | $ | 7 | $ | 18 | |||||||||||||||||||||||
(A) | All asset derivatives are included in Prepaid expenses, deferred taxes and other. | ||||||||||||||||||||||||||
(B) | All liability derivatives are included in Accrued expenses. | ||||||||||||||||||||||||||
Cash Flow Hedges | ' | ||||||||||||||||||||||||||
The location and amount of gains and losses on designated derivative instruments recognized in the consolidated statement of income for the years ended September 30, consisted of: | |||||||||||||||||||||||||||
Derivatives Accounted | Gain (Loss) Recognized in OCI on | Location of Gain | Gain (Loss) Reclassified from | ||||||||||||||||||||||||
for as Designated | Derivatives, Net of Tax | (Loss) | Accumulated OCI into Income, | ||||||||||||||||||||||||
Cash Flow Hedging | Reclassified from | Net of Tax | |||||||||||||||||||||||||
Relationships | Accumulated OCI | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | into Income | 2013 | 2012 | 2011 | |||||||||||||||||||||
Interest rate swaps | — | 1 | (34 | ) | Interest expense | (5 | ) | (5 | ) | (1 | ) | ||||||||||||||||
Commodity forward contracts | 2 | (1 | ) | — | Cost of products sold | 1 | — | — | |||||||||||||||||||
Total | $ | 2 | $ | — | $ | (34 | ) | $ | (4 | ) | $ | (5 | ) | $ | (1 | ) | |||||||||||
Fair Value Hedge | ' | ||||||||||||||||||||||||||
The location and amount of gains or losses on the hedged fixed rate debt attributable to changes in the market interest rates and the offsetting gain (loss) on the related interest rate swap for the years ended September 30 were as follows: | |||||||||||||||||||||||||||
Income Statement | Gain/(Loss) on Swap | Gain/(Loss) on Borrowings | |||||||||||||||||||||||||
Classification | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Other income (expense)(A) | $ | (2 | ) | $ | (4 | ) | $ | (3 | ) | $ | 2 | $ | 4 | $ | 3 | ||||||||||||
(A) | Changes in the fair value of the interest rate swap offset changes in the fair value of the fixed rate debt due to changes in market interest rates. There was no hedge ineffectiveness relating to this interest rate swap. | ||||||||||||||||||||||||||
Undesignated Hedges | ' | ||||||||||||||||||||||||||
The location and amount of gains and losses recognized in income on derivatives not designated for hedge accounting for the years ended September 30 were as follows: | |||||||||||||||||||||||||||
Derivatives Not | Location of Gain (Loss) | Amount of Gain (Loss) | |||||||||||||||||||||||||
Designated as | Recognized in Income on | Recognized in Income on | |||||||||||||||||||||||||
For Hedge Accounting | Derivatives | Derivative | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
Forward exchange contracts(B) | Other income (expense) | $ | (1 | ) | $ | (7 | ) | $ | (1 | ) | |||||||||||||||||
(B) | The gains and losses on forward contracts and currency options utilized to hedge the intercompany transactional foreign exchange exposures are largely offset by gains and losses on the underlying hedged items in Other (expense) income. |
Financial_Instruments_and_Fair1
Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
The fair values of financial instruments, including those not recognized on the statement of financial position at fair value, carried at September 30, 2013 and 2012 are classified in accordance with the fair value hierarchy in the tables below: | |||||||||||||||||
Basis of Fair Value Measurement | |||||||||||||||||
September 30, | Quoted Prices in | Significant | Significant | ||||||||||||||
2013 | Active Markets | Other | Unobservable | ||||||||||||||
Total | for Identical | Observable | Inputs (Level 3) | ||||||||||||||
Assets (Level 1) | Inputs (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
Institutional money market investments | $ | 881 | $ | 881 | $ | — | $ | — | |||||||||
Forward exchange contracts | 13 | — | 13 | — | |||||||||||||
Total Assets | $ | 895 | $ | 881 | $ | 13 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Forward exchange contracts | $ | 7 | $ | — | $ | 7 | $ | — | |||||||||
Contingent consideration liabilities | 23 | — | — | 23 | |||||||||||||
Total Liabilities | $ | 30 | $ | — | $ | 7 | $ | 23 | |||||||||
Basis of Fair Value Measurement | |||||||||||||||||
September 30, | Quoted Prices in | Significant | Significant | ||||||||||||||
2012 | Active Markets | Other | Unobservable | ||||||||||||||
Total | for Identical | Observable | Inputs (Level 3) | ||||||||||||||
Assets (Level 1) | Inputs (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
Institutional money market investments | $ | 1,066 | $ | 1,066 | $ | — | $ | — | |||||||||
Forward exchange contracts | 17 | — | 17 | — | |||||||||||||
Interest rate swap | 2 | — | 2 | — | |||||||||||||
Total Assets | $ | 1,085 | $ | 1,066 | $ | 20 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Forward exchange contracts | $ | 17 | $ | — | $ | 17 | $ | — | |||||||||
Commodity forward contracts | 2 | — | 2 | — | |||||||||||||
Contingent consideration liabilities | 20 | — | — | 20 | |||||||||||||
Total Liabilities | $ | 38 | $ | — | $ | 18 | $ | 20 | |||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Summary of Short-Term Debt | ' | ||||||||||||
Short-term debt at September 30 consisted of: | |||||||||||||
2013 | 2012 | ||||||||||||
Loans Payable | |||||||||||||
Domestic | $ | 200 | $ | 200 | |||||||||
Foreign | 7 | 3 | |||||||||||
Current portion of long-term debt | — | 202 | |||||||||||
$ | 207 | $ | 405 | ||||||||||
Summary of Long-Term Debt | ' | ||||||||||||
Long-Term Debt at September 30 consisted of: | |||||||||||||
2013 | 2012 | ||||||||||||
1.75% Notes due November 8, 2016 | 498 | 497 | |||||||||||
4.90% Notes due April 15, 2018 | 203 | 204 | |||||||||||
5.00% Notes due May 15, 2019 | 496 | 495 | |||||||||||
3.25% Notes due November 12, 2020 | 696 | 696 | |||||||||||
3.125% Notes due November 8, 2021 | 993 | 992 | |||||||||||
7.00% Debentures due August 1, 2027 | 168 | 168 | |||||||||||
6.70% Debentures due August 1, 2028 | 167 | 167 | |||||||||||
6.00% Notes due May 15, 2039 | 246 | 245 | |||||||||||
5.00% Notes due November 12, 2040 | 296 | 296 | |||||||||||
$ | 3,763 | $ | 3,761 | ||||||||||
Summary of Interest Costs and Payments | ' | ||||||||||||
A summary of interest costs and payments for the years ended September 30 is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Charged to operations | $ | 138 | $ | 135 | $ | 84 | |||||||
Capitalized | 33 | 34 | 38 | ||||||||||
Total interest costs | $ | 171 | $ | 169 | $ | 122 | |||||||
Interest paid, net of amounts capitalized | $ | 143 | $ | 119 | $ | 68 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||
Provision for Income Taxes from Continuing Operations | ' | ||||||||||||||||
The provision for income taxes from continuing operations for the years ended September 30 consisted of: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Current: | |||||||||||||||||
Federal | $ | 206 | $ | 164 | $ | 168 | |||||||||||
State and local, including Puerto Rico | (1 | ) | 10 | 21 | |||||||||||||
Foreign | 179 | 241 | 211 | ||||||||||||||
$ | 384 | $ | 415 | $ | 400 | ||||||||||||
Deferred: | |||||||||||||||||
Domestic | $ | (152 | ) | $ | (29 | ) | $ | (15 | ) | ||||||||
Foreign | 3 | (23 | ) | 32 | |||||||||||||
(149 | ) | (52 | ) | 17 | |||||||||||||
$ | 236 | $ | 363 | $ | 417 | ||||||||||||
Components of Income From Continuing Operations Before Income Taxes | ' | ||||||||||||||||
The components of Income From Continuing Operations Before Income Taxes for the years ended September 30 consisted of: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Domestic, including Puerto Rico | $ | 288 | $ | 605 | $ | 843 | |||||||||||
Foreign | 877 | 868 | 775 | ||||||||||||||
$ | 1,165 | $ | 1,472 | $ | 1,618 | ||||||||||||
Summary of Gross Amounts of Unrecognized Tax Benefits | ' | ||||||||||||||||
The table below summarizes the gross amounts of unrecognized tax benefits without regard to reduction in tax liabilities or additions to deferred tax assets and liabilities if such unrecognized tax benefits were settled. | |||||||||||||||||
The Company expects no significant increases or decreases in the amount of the unrecognized tax benefits to occur within the next twelve months. | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Balance at October 1 | $ | 143 | $ | 126 | $ | 82 | |||||||||||
Increase due to current year tax positions | 64 | 37 | 38 | ||||||||||||||
Increase due to prior year tax positions | 25 | 2 | 11 | ||||||||||||||
Decreases due to prior year tax positions | (12 | ) | (3 | ) | (2 | ) | |||||||||||
Decrease due to settlements and lapse of statute of limitations | (87 | ) | (19 | ) | (3 | ) | |||||||||||
Balance at September 30 | $ | 134 | $ | 143 | $ | 126 | |||||||||||
Deferred Income Taxes | ' | ||||||||||||||||
Deferred income taxes at September 30 consisted of: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Compensation and benefits | $ | 478 | $ | — | $ | 606 | $ | — | |||||||||
Property and equipment | — | 468 | — | 446 | |||||||||||||
Loss and credit carryforwards | 308 | — | 181 | — | |||||||||||||
Other | 399 | 229 | 266 | 219 | |||||||||||||
1,185 | 697 | 1,053 | 665 | ||||||||||||||
Valuation allowance | (284 | ) | — | (159 | ) | — | |||||||||||
$ | 901 | $ | 697 | $ | 894 | $ | 665 | ||||||||||
Reconciliation of Federal Statutory Tax Rate to Company's Effective Tax Rate | ' | ||||||||||||||||
A reconciliation of the federal statutory tax rate to the Company’s effective tax rate was as follows: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||||||
State and local income taxes, net of federal tax benefit | (1.2 | ) | 0.2 | 1.2 | |||||||||||||
Effect of foreign and Puerto Rico earnings and foreign tax credits | (9.7 | ) | (8.2 | ) | (7.5 | ) | |||||||||||
Effect of Research Credits and Domestic Production Activities, | (3.8 | ) | (1.7 | ) | (2.7 | ) | |||||||||||
Other, net | (0.1 | ) | (0.7 | ) | (0.2 | ) | |||||||||||
20.2 | % | 24.6 | % | 25.8 | % |
Supplemental_Financial_Informa1
Supplemental Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||||||
Trade Receivables, Allowances for Doubtful Accounts and Cash Discounts | ' | ||||||||||||||||||||
Allowances for doubtful accounts and cash discounts netted against trade receivables were $50 million and $45 million at September 30, 2013 and 2012, respectively. The amounts recognized in 2013, 2012 and 2011 relating to these valuation accounts are provided in the following table: | |||||||||||||||||||||
Allowance for | Allowance for | Total | |||||||||||||||||||
Doubtful | Cash Discounts | ||||||||||||||||||||
Accounts | |||||||||||||||||||||
Balance at September 30, 2010 | $ | 40 | $ | 6 | $ | 46 | |||||||||||||||
Additions charged to costs and expenses | 13 | 26 | 39 | ||||||||||||||||||
Deductions and other | (17 | )(A) | (24 | ) | (42 | ) | |||||||||||||||
Balance at September 30, 2011 | $ | 36 | $ | 8 | $ | 43 | |||||||||||||||
Additions charged to costs and expenses | 6 | 39 | 45 | ||||||||||||||||||
Deductions and other | (6 | )(A) | (37 | ) | (44 | ) | |||||||||||||||
Balance at September 30, 2012 | $ | 36 | $ | 9 | $ | 45 | |||||||||||||||
Additions charged to costs and expenses | 9 | 40 | 49 | ||||||||||||||||||
Deductions and other | (3 | )(A) | (41 | ) | (44 | ) | |||||||||||||||
Balance at September 30, 2013 | $ | 41 | $ | 9 | $ | 50 | |||||||||||||||
(A) | Accounts written off. | ||||||||||||||||||||
Inventories | ' | ||||||||||||||||||||
Inventories at September 30 consisted of: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Materials | $ | 226 | $ | 201 | |||||||||||||||||
Work in process | 258 | 247 | |||||||||||||||||||
Finished products | 918 | 793 | |||||||||||||||||||
$ | 1,402 | $ | 1,241 | ||||||||||||||||||
Property, Plant and Equipment, Net | ' | ||||||||||||||||||||
Property, Plant and Equipment, Net at September 30 consisted of: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Land | $ | 97 | $ | 102 | |||||||||||||||||
Buildings | 2,286 | 2,194 | |||||||||||||||||||
Machinery, equipment and fixtures | 4,970 | 4,669 | |||||||||||||||||||
Leasehold improvements | 85 | 80 | |||||||||||||||||||
7,437 | 7,046 | ||||||||||||||||||||
Less accumulated depreciation and amortization | 3,961 | 3,742 | |||||||||||||||||||
$ | 3,476 | $ | 3,304 | ||||||||||||||||||
Supplementary Data | ' | ||||||||||||||||||||
SUPPLEMENTARY DATA (UNAUDITED) | |||||||||||||||||||||
Millions of dollars, except per share amounts | 2013 | ||||||||||||||||||||
1st | 2nd | 3rd | 4th | Year | |||||||||||||||||
Revenues | $ | 1,900 | $ | 2,000 | $ | 2,053 | $ | 2,101 | $ | 8,054 | |||||||||||
Gross Profit | 1,006 | 1,018 | 1,060 | 1,086 | 4,171 | ||||||||||||||||
Income from Continuing Operations | 270 | 276 | 292 | 91 | 929 | ||||||||||||||||
Net Income | 625 | 276 | 302 | 91 | 1,293 | ||||||||||||||||
Earnings per Share: | |||||||||||||||||||||
Income from Continuing Operations | 1.38 | 1.42 | 1.5 | 0.47 | 4.76 | ||||||||||||||||
Income from Discontinued Operations | 1.81 | — | 0.05 | — | 1.86 | ||||||||||||||||
Basic Earnings per Share | 3.18 | 1.42 | 1.55 | 0.46 | 6.63 | ||||||||||||||||
Income from Continuing Operations | 1.35 | 1.39 | 1.47 | 0.46 | 4.67 | ||||||||||||||||
Income from Discontinued Operations | 1.78 | — | 0.05 | — | 1.83 | ||||||||||||||||
Diluted Earnings per Share | 3.13 | 1.39 | 1.52 | 0.46 | 6.49 | ||||||||||||||||
2012 | |||||||||||||||||||||
1st | 2nd | 3rd | 4th | Year | |||||||||||||||||
Revenues | $ | 1,832 | $ | 1,929 | $ | 1,981 | $ | 1,967 | $ | 7,708 | |||||||||||
Gross Profit | 931 | 988 | 1,033 | 1,001 | 3,953 | ||||||||||||||||
Income from Continuing Operations | 249 | 275 | 312 | 274 | 1,110 | ||||||||||||||||
Net Income | 263 | 291 | 327 | 289 | 1,170 | ||||||||||||||||
Earnings per Share: | |||||||||||||||||||||
Income from Continuing Operations | 1.16 | 1.33 | 1.54 | 1.38 | 5.4 | ||||||||||||||||
Income from Discontinued Operations | 0.07 | 0.08 | 0.08 | 0.07 | 0.29 | ||||||||||||||||
Basic Earnings per Share | 1.23 | 1.41 | 1.62 | 1.45 | 5.69 | ||||||||||||||||
Income from Continuing Operations | 1.14 | 1.31 | 1.52 | 1.35 | 5.3 | ||||||||||||||||
Income from Discontinued Operations | 0.07 | 0.08 | 0.07 | 0.07 | 0.29 | ||||||||||||||||
Diluted Earnings per Share | 1.21 | 1.39 | 1.59 | 1.43 | 5.59 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Maturity period of cash equivalents at the time of purchase | 'Three months or less | ' | ' |
Depreciation and amortization expense | $338 | $321 | $340 |
Useful life capitalized computer software maximum | '10 years | ' | ' |
Amortization expense of capitalized software | 38 | 36 | 23 |
Shipping expense | $285 | $281 | $269 |
Minimum [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Maturity period of short-term investments at the time of purchase | '3 months | ' | ' |
Minimum [Member] | Buildings [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '20 years | ' | ' |
Minimum [Member] | Machinery and Equipment [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '4 years | ' | ' |
Minimum [Member] | Leasehold Improvements [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '1 year | ' | ' |
Minimum [Member] | Core and Developed Technology [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Finite-lived intangible assets, useful life | '15 years | ' | ' |
Minimum [Member] | Patents, Trademarks, and Other [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Finite-lived intangible assets, useful life | '1 year | ' | ' |
Maximum [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Maturity period of short-term investments at the time of purchase | '1 year | ' | ' |
Maximum [Member] | Buildings [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '45 years | ' | ' |
Maximum [Member] | Machinery and Equipment [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '13 years | ' | ' |
Maximum [Member] | Leasehold Improvements [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '12 years | ' | ' |
Maximum [Member] | Core and Developed Technology [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Finite-lived intangible assets, useful life | '20 years | ' | ' |
Maximum [Member] | Patents, Trademarks, and Other [Member] | ' | ' | ' |
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' |
Finite-lived intangible assets, useful life | '40 years | ' | ' |
Shareholders_Equity_Changes_in
Shareholders' Equity - Changes in Certain Components of Shareholders' Equity (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Balance | $4,136 | ' | ' |
Balance, Shares | -135,751,039 | ' | ' |
Net Income | 1,293 | 1,170 | 1,271 |
Balance | 5,043 | 4,136 | ' |
Balance, Shares | -138,663,113 | -135,751,039 | ' |
Common Stock Issued at Par Value [Member] | ' | ' | ' |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Balance | 333 | 333 | 333 |
Net Income | ' | ' | ' |
Balance | 333 | 333 | 333 |
Capital in Excess of Par Value [Member] | ' | ' | ' |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Balance | 1,920 | 1,793 | 1,625 |
Net Income | ' | ' | ' |
Share-based compensation plans, net | 50 | 39 | 95 |
Share-based compensation | 98 | 88 | 73 |
Balance | 2,068 | 1,920 | 1,793 |
Retained Earnings [Member] | ' | ' | ' |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Balance | 10,435 | 9,634 | 8,724 |
Net Income | 1,293 | 1,170 | 1,271 |
Common ($1.64, 1.80 and $1.98 per share for the year ended 2011, 2012, 2013 respectively) | -386 | -368 | -362 |
Balance | 11,342 | 10,435 | 9,634 |
Deferred Compensation [Member] | ' | ' | ' |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Balance | 19 | 19 | 17 |
Net Income | ' | ' | ' |
Common stock held in trusts, net | ' | ' | 2 |
Balance | 19 | 19 | 19 |
Treasury Stock [Member] | ' | ' | ' |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Balance | -7,769 | -6,280 | -4,806 |
Balance, Shares | -135,751,000 | -117,844,000 | -102,846,000 |
Share-based compensation plans, net | 15 | 11 | 28 |
Share-based compensation plans, net, Shares | 2,537,000 | 1,973,000 | 3,432,000 |
Common stock held in trusts, net | ' | ' | -2 |
Common stock held in trusts, net, Shares | 36,000 | 66,000 | 3,000 |
Repurchase of common stock | -450 | -1,500 | -1,500 |
Repurchase of common stock, Shares | -5,485,000 | -19,945,000 | -18,434,000 |
Balance | ($8,204) | ($7,769) | ($6,280) |
Balance, Shares | -138,663,000 | -135,751,000 | -117,844,000 |
Shareholders_Equity_Changes_in1
Shareholders' Equity - Changes in Certain Components of Shareholders' Equity (Parenthetical) (Detail) (Retained Earnings [Member], USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Retained Earnings [Member] | ' | ' | ' |
Components Of Stockholders Equity [Line Items] | ' | ' | ' |
Common stock dividend per share | $1.98 | $1.80 | $1.64 |
Shareholders_Equity_Accumulate
Shareholders' Equity - Accumulated Other Comprehensive (Loss) Income (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive (loss) income, beginning balance | ($802) | ' | ' |
Other comprehensive income before reclassifications | 228 | ' | ' |
Amounts reclassified into income | 59 | ' | ' |
Accumulated other comprehensive (loss) income, ending balance | -516 | ' | ' |
Unrealized Losses on Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive (loss) income, beginning balance | -38 | ' | ' |
Other comprehensive income before reclassifications | 2 | ' | ' |
Amounts reclassified into income | 4 | 5 | 1 |
Accumulated other comprehensive (loss) income, ending balance | -31 | -38 | ' |
Foreign Currency Translation Adjustments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive (loss) income, beginning balance | 51 | ' | ' |
Other comprehensive income before reclassifications | 23 | ' | ' |
Accumulated other comprehensive (loss) income, ending balance | 74 | ' | ' |
Benefit Plans Adjustments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive (loss) income, beginning balance | -815 | ' | ' |
Other comprehensive income before reclassifications | 203 | ' | ' |
Amounts reclassified into income | 54 | 40 | 43 |
Accumulated other comprehensive (loss) income, ending balance | ($558) | ($815) | ' |
Shareholders_Equity_Accumulate1
Shareholders' Equity - Accumulated Other Comprehensive (Loss) Income (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Amounts reclassified into income | $59 | ' | ' |
Interest expense | 138 | 135 | 84 |
Cost of products sold | 3,883 | 3,755 | 3,625 |
Unrealized Losses on Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Amounts reclassified into income | 4 | 5 | 1 |
Interest expense | 5 | ' | ' |
Cost of products sold | -1 | ' | ' |
Benefit Plans Adjustments [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Amounts reclassified into income | $54 | $40 | $43 |
Shareholders_Equity_Additional
Shareholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Foreign currency translation adjustments | $6 | $14 | ' |
Income tax provision (benefit) for net gains (losses) recorded in other comprehensive income for defined benefit pension, postretirement plans and postemployment plans | 121 | -151 | -71 |
Tax benefit associated with reclassification adjustments | 236 | 363 | 417 |
Income tax provision (benefit) for cash flow hedges | 1 | ' | -21 |
Unrealized Losses on Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Tax benefit associated with reclassification adjustments | -3 | -3 | -1 |
Benefit Plans Adjustments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Tax benefit associated with reclassification adjustments | ($30) | ($23) | ($24) |
Earnings_per_Share_Weighted_Av
Earnings per Share - Weighted Average Common Shares Used in Computations of Basic and Diluted Earnings Per Share (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Average common shares outstanding | 195,157 | 205,460 | 221,175 |
Dilutive share equivalents from share-based plans | 4,036 | 3,721 | 5,105 |
Average common and common equivalent shares outstanding - assuming dilution | 199,193 | 209,181 | 226,280 |
Earnings_per_Share_Additional_
Earnings per Share - Additional Information (Detail) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Options to purchase shares of common stock excluded from calculation of diluted earnings per share | 0 | 4.8 | 1.2 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 19, 2013 | Nov. 09, 2009 | Sep. 30, 2013 | Apr. 27, 2009 | Jul. 30, 2013 | Sep. 30, 2013 |
Defendant | RTI Technologies [Member] | RTI Technologies [Member] | RTI Technologies [Member] | Distributor Plaintiffs [Member] | Hospital Plaintiffs [Member] | Hospital Plaintiffs [Member] | |||
Contingencies And Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rental expense for operating leases | $70 | $66 | $69 | ' | ' | ' | ' | ' | ' |
Future minimum rental commitments on noncancelable leases due in 2014 | 52 | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum rental commitments on noncancelable leases due in 2015 | 43 | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum rental commitments on noncancelable leases due in 2016 | 32 | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum rental commitments on noncancelable leases due in 2017 | 23 | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum rental commitments on noncancelable leases due in 2018 | 23 | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum rental commitments on noncancelable leases Thereafter | 27 | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate future purchase commitments | 546 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of purported class action suits | 5 | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement amount | ' | ' | ' | ' | ' | ' | 45 | 22 | 22 |
Damages awarded | ' | ' | ' | 113.5 | 5 | ' | ' | ' | ' |
Pretax charge relating to an unfavorable litigation verdict | ' | ' | ' | ' | ' | $341 | ' | ' | ' |
Segment_Data_Additional_Inform
Segment Data - Additional Information (Detail) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Customer | Customer | Customer | |
Segment | |||
Segment Reporting [Abstract] | ' | ' | ' |
Number of principal Business segments | 3 | ' | ' |
Number of customers accounted for 10% or more of revenues | 0 | 0 | 0 |
Threshold of revenue by major customer | '10% or more | '10% or more | '10% or more |
Segment_Data_Financial_Informa
Segment Data - Financial Information for Company's Segments (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | $8,054 | $7,708 | $7,584 |
Income From Continuing Operations Before Income Taxes | 1,165 | 1,472 | 1,618 |
Total Segment Assets | 12,149 | 11,361 | 10,430 |
Total Capital Expenditures | 522 | 487 | 509 |
Total Depreciation and Amortization | 546 | 511 | 494 |
Operating Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Income From Continuing Operations Before Income Taxes | 2,140 | 2,077 | 2,096 |
Total Segment Assets | 8,357 | 8,114 | 7,530 |
Operating Segments [Member] | Medical [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 4,306 | 4,091 | 4,007 |
Income From Continuing Operations Before Income Taxes | 1,233 | 1,162 | 1,181 |
Total Segment Assets | 4,582 | 4,245 | 3,928 |
Total Capital Expenditures | 354 | 363 | 367 |
Total Depreciation and Amortization | 259 | 240 | 248 |
Operating Segments [Member] | Diagnostics [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 2,646 | 2,538 | 2,480 |
Income From Continuing Operations Before Income Taxes | 638 | 653 | 636 |
Total Segment Assets | 2,571 | 2,462 | 2,270 |
Total Capital Expenditures | 142 | 101 | 93 |
Total Depreciation and Amortization | 190 | 175 | 163 |
Operating Segments [Member] | Biosciences [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,102 | 1,080 | 1,096 |
Income From Continuing Operations Before Income Taxes | 269 | 262 | 278 |
Total Segment Assets | 1,205 | 1,407 | 1,332 |
Total Capital Expenditures | 16 | 14 | 31 |
Total Depreciation and Amortization | 77 | 79 | 67 |
Corporate and All Other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Income From Continuing Operations Before Income Taxes | -976 | -605 | -478 |
Total Segment Assets | 3,792 | 3,247 | 2,900 |
Total Capital Expenditures | 9 | 10 | 18 |
Total Depreciation and Amortization | $19 | $18 | $16 |
Segment_Data_Financial_Informa1
Segment Data - Financial Information for Company's Segments (Parenthetical) (Detail) (USD $) | 1 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jul. 30, 2013 | Sep. 30, 2013 |
RTI Technologies [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Pretax charge relating to an unfavorable litigation verdict | ' | $341 |
Hospital Plaintiffs [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Settlement amount | $22 | $22 |
Segment_Data_Revenues_by_Organ
Segment Data - Revenues by Organizational Units (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | $8,054 | $7,708 | $7,584 |
Operating Segments [Member] | Medical [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 4,306 | 4,091 | 4,007 |
Operating Segments [Member] | Medical [Member] | Medical Surgical Systems [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 2,196 | 2,105 | 2,082 |
Operating Segments [Member] | Medical [Member] | Diabetes Care [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 969 | 911 | 866 |
Operating Segments [Member] | Medical [Member] | Pharmaceutical Systems [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,142 | 1,074 | 1,059 |
Operating Segments [Member] | Diagnostics [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 2,646 | 2,538 | 2,480 |
Operating Segments [Member] | Diagnostics [Member] | Preanalytical Systems [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,352 | 1,301 | 1,278 |
Operating Segments [Member] | Diagnostics [Member] | Diagnostic Systems [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,294 | 1,237 | 1,203 |
Operating Segments [Member] | Biosciences [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | $1,102 | $1,080 | $1,096 |
Segment_Data_Revenues_by_Geogr
Segment Data - Revenues by Geographic Areas (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenues | $8,054 | $7,708 | $7,584 |
Long-Lived Assets | 6,276 | 6,039 | 5,762 |
Operating Segments [Member] | United States [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenues | 3,353 | 3,288 | 3,248 |
Long-Lived Assets | 3,251 | 3,156 | 3,140 |
Operating Segments [Member] | Europe [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenues | 2,512 | 2,379 | 2,431 |
Long-Lived Assets | 1,667 | 1,559 | 1,461 |
Operating Segments [Member] | Asia Pacific [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenues | 1,006 | 883 | 793 |
Long-Lived Assets | 442 | 397 | 300 |
Operating Segments [Member] | Other [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenues | 1,183 | 1,159 | 1,113 |
Long-Lived Assets | 565 | 624 | 591 |
Corporate [Member] | Operating Segments [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Long-Lived Assets | $350 | $303 | $270 |
ShareBased_Compensation_Compen
Share-Based Compensation - Compensation Cost Relating to Share-Based Payments (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation cost relating to share-based payments | $100 | $89 | $73 |
Cost of products sold [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation cost relating to share-based payments | 20 | 18 | 14 |
Selling and administrative expense [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation cost relating to share-based payments | 66 | 59 | 50 |
Research and development expense [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation cost relating to share-based payments | $14 | $12 | $9 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Installment | |||
Stock Based Compensation Activity [Line Items] | ' | ' | ' |
Income tax benefit recognized | $35 | $32 | $26 |
SARs vesting period | '4 years | ' | ' |
SARs terms of award | '10 years | ' | ' |
Total intrinsic value of SARs exercised | 54 | 4 | 9 |
Stock Issued under SARs exercised | 576 | ' | ' |
Actual tax benefit realized For tax deductions from SAR | 19 | 3 | 3 |
Total fair value of SARs vested | 30 | 37 | 32 |
Outstanding stock options term of award | '10 years | ' | ' |
Cash received from the exercising of stock options | 64 | 52 | 103 |
Actual tax benefit realized for tax deductions from stock option exercises | 21 | 12 | 46 |
Total intrinsic value of stock options exercised | 65 | 58 | 138 |
Stock Units Vesting Period | '3 years | ' | ' |
Unrecognized compensation expense for all non-vested share-based awards | 101 | ' | ' |
Weighted-average remaining life non-vested share-based awards | '1 year 10 months 10 days | ' | ' |
Shares were authorized for future grants | 12,139 | ' | ' |
Distribution of each award is deferred until after retirement or involuntary termination | '25% or more | ' | ' |
Number of equal installments in which deferred portion of stock award is distributable | 5 | ' | ' |
Period over which balance of stock award distributable, (years) | '5 years | ' | ' |
Outstanding shares under other stock plan | 73 | 89 | ' |
Shares issuable under deferred compensation plan | 401 | ' | ' |
Director [Member] | ' | ' | ' |
Stock Based Compensation Activity [Line Items] | ' | ' | ' |
Deferral plan, shares held in trust | 104 | ' | ' |
Shares represented Directors' compensation in 2013 | 4 | ' | ' |
Performance Based Restricted Share Units [Member] | ' | ' | ' |
Stock Based Compensation Activity [Line Items] | ' | ' | ' |
Share based compensation arrangement by share based payment award | 'The actual payout under these awards may vary from zero to 200% of an employee's target payout, based on the Company's actual performance over the three-year performance period. | ' | ' |
Granted, Stock Units Weighted Average Grant Date Fair Value | ' | $72.12 | $76.64 |
Total fair value of restricted stock units | ' | 7 | 15 |
Weighted average remaining vesting term | '11 months 27 days | ' | ' |
Time-Vested Restricted Stock Units [Member] | ' | ' | ' |
Stock Based Compensation Activity [Line Items] | ' | ' | ' |
Granted, Stock Units Weighted Average Grant Date Fair Value | ' | $72.27 | $76.97 |
Total fair value of restricted stock units | $52 | $38 | $36 |
Weighted average remaining vesting term | '1 year 4 months 24 days | ' | ' |
ShareBased_Compensation_Assump
Share-Based Compensation - Assumptions for Estimation of Fair Values of Stock Appreciation Rights Granted During Reporting Periods (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Risk-free interest rate | 1.33% | 1.67% | 2.40% |
Expected volatility | 21.00% | 22.00% | 24.00% |
Expected dividend yield | 2.60% | 2.50% | 2.14% |
Expected life | '8 years | '7 years 10 months 24 days | '7 years 9 months 18 days |
Fair value derived | $12.08 | $12.61 | $16.80 |
ShareBased_Compensation_Summar
Share-Based Compensation - Summary of SARs Outstanding (Detail) (USD $) | 12 Months Ended |
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
SARs, Beginning Balance | 9,782 |
SARs, Granted | 1,524 |
SARs, Exercised | -2,351 |
SARs, Forfeited, canceled or expired | -361 |
SARs, Ending Balance | 8,594 |
SARs, Vested and expected to vest at ending balance | 8,268 |
SARs, Exercisable at ending balance | 5,331 |
SARs, Weighted Average Exercise Price, Beginning balance | $72.28 |
SARs, Weighted Average Exercise Price, Granted | $76.18 |
SARs, Weighted Average Exercise Price, Exercised | $69.82 |
SARs, Weighted Average Exercise Price, Forfeited, canceled or expired | $75.08 |
SARs, Weighted Average Exercise Price, Ending balance | $73.52 |
SARs, Weighted Average Exercise Price, Vested and expected to vest | $73.46 |
SARs, Weighted Average Exercise Price, Exercisable | $72.51 |
SARs, Weighted Average Remaining Contractual Term | '6 years 4 months 13 days |
SARs, Weighted Average Remaining Contractual Term, Vested and expected to vest | '6 years 3 months 18 days |
SARs, Weighted Average Remaining Contractual Term, Exercisable | '5 years 3 months 4 days |
SARs, Aggregate Intrinsic Value | $228 |
SARs, Aggregate Intrinsic Value, Vested and expected to vest | 220 |
SARs, Aggregate Intrinsic Value, Exercisable | $147 |
ShareBased_Compensation_Summar1
Share-Based Compensation - Summary of Stock Options Outstanding (Detail) (USD $) | 12 Months Ended |
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Stock Options, Beginning Balance | 1,969 |
Stock Options, Exercised | -1,507 |
Stock Options, Forfeited, canceled or expired | -27 |
Stock Options, Ending Balance | 435 |
Stock Options, Vested at ending balance | 435 |
Stock Options, Exercisable at ending balance | 435 |
Weighted Average Exercise Price, Beginning of Period | $44.06 |
Weighted Average Exercise Price, Exercised | $42.65 |
Weighted Average Exercise Price, Forfeited, canceled or expired | $30.87 |
Weighted Average Exercise Price, End of Period | $49.74 |
Stock Options, Weighted Average Exercise Price, Vested at ending balance | $49.74 |
Stock Options, Weighted Average Exercise Price, Exercisable at ending balance | $49.74 |
Stock Options, Weighted Average Remaining Contractual Term (Years), Balance at ending balance | '10 months 2 days |
Stock Options, Weighted Average Remaining Contractual Term (Years), Vested at ending balance | '10 months 2 days |
Stock Options, Weighted Average Remaining Contractual Term (Years), Exercisable at ending balance | '10 months 2 days |
Stock Options, Aggregate Intrinsic Value, Balance at ending balance | $22 |
Stock Options, Aggregate Intrinsic Value, Vested at ending balance | 22 |
Stock Options, Aggregate Intrinsic Value, Exercisable at ending balance | $22 |
ShareBased_Compensation_Summar2
Share-Based Compensation - Summary of Performance-Based Restricted Stock Units Outstanding (Detail) (Performance-Based Restricted Stock Units [Member], USD $) | 12 Months Ended |
Share data in Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Performance-Based Restricted Stock Units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Stock Units, Beginning Balance | 2,185 |
Granted, Stock Units | 523 |
Distributed, Stock Units | ' |
Forfeited, canceled or expired, Stock Units | -1,057 |
Stock Units, Ending Balance | 1,651 |
Stock Units, Vested and expected to vest at ending balance | 573 |
Stock Units Exercise Price, Beginning Balance | $75.24 |
Granted, Stock Units Weighted Average Grant Date Fair Value | $72.14 |
Distributed, Stock Units Exercise Price | ' |
Forfeited, canceled or expired, Stock Units Exercise Price | $75.41 |
Stock Units Exercise Price, Ending Balance | $74.15 |
Stock Units, Vested and expected to vest at ending balance, Exercise Price | $73.06 |
ShareBased_Compensation_Summar3
Share-Based Compensation - Summary of Performance-Based Restricted Stock Units Outstanding (Parenthetical) (Detail) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Percentage of target payout on which performance-based restricted stock units are based | 200.00% |
Expected forfeited performance-based restricted stock units | 91 |
Units in excess of the expected performance payout | 987 |
ShareBased_Compensation_Summar4
Share-Based Compensation - Summary of Time-Vested Restricted Stock Units Outstanding (Detail) (Time-Vested Restricted Stock Units [Member], USD $) | 12 Months Ended |
Share data in Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Time-Vested Restricted Stock Units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Stock Units, Beginning Balance | 2,390 |
Granted, Stock Units | 1,210 |
Distributed, Stock Units | -457 |
Forfeited, canceled or expired, Stock Units | -355 |
Stock Units, Ending Balance | 2,787 |
Stock Units, Vested and expected to vest at ending balance | 2,509 |
Stock Units Exercise Price, Beginning Balance | $72.79 |
Granted, Stock Units Weighted Average Grant Date Fair Value | $70.99 |
Distributed, Stock Units Exercise Price | $73.85 |
Forfeited, canceled or expired, Stock Units Exercise Price | $72.97 |
Stock Units Exercise Price, Ending Balance | $71.81 |
Stock Units, Vested and expected to vest at ending balance, Exercise Price | $71.81 |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Nov. 30, 2011 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Nov. 30, 2011 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Oct. 31, 2013 |
Equity Securities [Member] | Equity Securities [Member] | Fixed Income Securities [Member] | Fixed Income Securities [Member] | Diversified [Member] | Foreign Plans [Member] | Foreign Plans [Member] | Foreign Plans [Member] | Pension Plans [Member] | Pension Plans [Member] | Pension Plans [Member] | Other Postretirement Benefits [Member] | Other Postretirement Benefits [Member] | Other Postretirement Benefits [Member] | U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | ||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of plan amendment for the defined benefit plan | ' | ' | 'Effective January 1, 2013, all plan participants' benefits in the U.S. defined benefit traditional pension plan, which provided benefits to participants based upon a final average pay formula, were converted to a defined benefit cash balance pension plan. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net pension cost | ' | ' | ' | $40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in net benefit cost due to change in discount rate | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate | 5.10% | 4.90% | ' | ' | ' | ' | ' | ' | ' | ' | 3.94% | 5.26% | 4.68% | ' | ' | ' | ' | ' | ' | 4.90% | 5.10% | 4.90% | 3.90% | 4.90% | 5.20% | ' |
Change in net benefit cost due to change in plan assets | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net pension cost reduction for negative prior service cost | ' | ' | ' | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net pension and postretirement cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33 | 31 | 34 | 123 | 128 | 134 | 19 | 21 | 23 | ' | ' | ' | ' | ' | ' | ' |
Pension plan assets at fair value | ' | 89 | 83 | 83 | 89 | ' | ' | ' | ' | ' | 549 | 466 | ' | 1,785 | 1,573 | 1,353 | ' | ' | ' | 1,235 | ' | ' | 1,235 | 1,107 | ' | ' |
Pension plan projected benefit obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 658 | 632 | ' | 2,076 | 2,308 | 1,996 | 243 | 267 | 269 | ' | ' | ' | ' | ' | ' | ' |
Estimated net actuarial loss that will be amortized from accumulated other comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -48 | ' | ' | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated prior service credit costs that will be amortized from accumulated other comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumed health care trend rate | ' | ' | 7.20% | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ultimate health care trend rate beginning in 2024 | ' | ' | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in accumulated post retirement benefit obligation due to one percentage point increase in assumed health care cost trend rates | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in aggregate service cost and interest cost components retirement benefit obligation due to one percentage point increase in assumed health care cost trend rates | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in accumulated post retirement benefit obligation due to one percentage point decrease in assumed health care cost trend rates | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in aggregate service cost and interest cost components retirement benefit obligation due to one percentage point decrease in assumed health care cost trend rates | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discretionary contribution to its U.S. pension plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40 |
Post retirement plan Expected Drug subsidy, 2014 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Post retirement plan Expected Drug subsidy, 2015 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Post retirement plan Expected Drug subsidy, 2016 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Post retirement plan Expected Drug subsidy, 2017 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Post retirement plan Expected Drug subsidy, 2018 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Post retirement plan Expected Drug subsidy, 2019-2023 | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of total assets domestic plans | ' | ' | 69.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company's Target allocation percentage for diversifying investments | ' | ' | ' | ' | ' | 31.00% | 65.00% | 35.00% | 35.00% | 34.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of total plan assets foreign plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount recognized in Accumulated other comprehensive income before income taxes for net actuarial loss | ' | ' | 163 | 158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated other comprehensive income into post employment benefit cost | ' | ' | 19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of the Savings Incentive Plan | ' | ' | 36 | 36 | 37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employers contribution | ' | ' | 'The Company matches contributions for eligible employees to 75% of employees' contributions, up to a maximum of 4.5% of each employee's eligible compensation. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employers contribution to defined contribution plan as percentage of employees contribution | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum employee's contribution to defined contribution plan as a percentage of employees salary matched by company | ' | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employees contribution guaranteed by the company to the fixed income fund of the Savings Incentive Plan | ' | ' | $246 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefit_Plans_Net_Pension_and_
Benefit Plans - Net Pension and Other Postretirement Cost (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $84 | $75 | $89 |
Interest cost | 87 | 91 | 93 |
Expected return on plan assets | -116 | -104 | -103 |
Amortization of prior service (credit) cost | -13 | -11 | -1 |
Amortization of loss | 75 | 56 | 56 |
Curtailment/settlement loss | 6 | 20 | 1 |
Net pension and other postretirement cost | 123 | 128 | 134 |
Other Postretirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 6 | 6 | 6 |
Interest cost | 10 | 13 | 13 |
Expected return on plan assets | ' | ' | ' |
Amortization of prior service (credit) cost | -1 | -1 | -1 |
Amortization of loss | 4 | 5 | 4 |
Curtailment/settlement loss | ' | -1 | ' |
Net pension and other postretirement cost | $19 | $21 | $23 |
Benefit_Plans_Change_in_Benefi
Benefit Plans - Change in Benefit Obligation, Change in Fair Value of Plan Assets (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Change in fair value of plan assets: | ' | ' | ' |
Ending fair value | $83 | $83 | $89 |
Amounts recognized in the Consolidated Balance Sheets at September 30: | ' | ' | ' |
Long-term Employee Benefit Obligations | -805 | -1,224 | ' |
Pension Plans [Member] | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Beginning obligation | 2,308 | 1,996 | ' |
Service cost | 84 | 75 | 89 |
Interest cost | 87 | 91 | 93 |
Plan amendments | -23 | -124 | ' |
Benefits paid | -153 | -124 | ' |
Actuarial (gain) loss | -217 | 439 | ' |
Settlements | -13 | -45 | ' |
Other, includes translation | 5 | ' | ' |
Balance obligation | 2,076 | 2,308 | 1,996 |
Change in fair value of plan assets: | ' | ' | ' |
Beginning fair value | 1,573 | 1,353 | ' |
Actual return on plan assets | 200 | 223 | ' |
Employer contribution | 174 | 166 | ' |
Benefits paid | -153 | -124 | ' |
Settlements | -13 | -45 | ' |
Other, includes translation | 3 | 1 | ' |
Ending fair value | 1,785 | 1,573 | 1,353 |
Funded Status at September 30: | ' | ' | ' |
Unfunded benefit obligation | -292 | -734 | ' |
Amounts recognized in the Consolidated Balance Sheets at September 30: | ' | ' | ' |
Other | 12 | ' | ' |
Salaries, wages and related items | -6 | -6 | ' |
Long-term Employee Benefit Obligations | -299 | -728 | ' |
Net amount recognized | -292 | -734 | ' |
Amounts recognized in Accumulated other comprehensive (loss) income before income taxes at September 30: | ' | ' | ' |
Net transition asset | ' | ' | ' |
Prior service credit | 133 | 122 | ' |
Net actuarial loss | -774 | -1,153 | ' |
Net amount recognized | -641 | -1,030 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Change in benefit obligation: | ' | ' | ' |
Beginning obligation | 267 | 269 | ' |
Service cost | 6 | 6 | 6 |
Interest cost | 10 | 13 | 13 |
Plan amendments | ' | -5 | ' |
Benefits paid | -28 | -27 | ' |
Actuarial (gain) loss | -21 | 5 | ' |
Settlements | ' | ' | ' |
Other, includes translation | 8 | 6 | ' |
Balance obligation | 243 | 267 | 269 |
Change in fair value of plan assets: | ' | ' | ' |
Benefits paid | -28 | -27 | ' |
Settlements | ' | ' | ' |
Ending fair value | ' | ' | ' |
Funded Status at September 30: | ' | ' | ' |
Unfunded benefit obligation | -243 | -267 | ' |
Amounts recognized in the Consolidated Balance Sheets at September 30: | ' | ' | ' |
Other | ' | ' | ' |
Salaries, wages and related items | -18 | -18 | ' |
Long-term Employee Benefit Obligations | -225 | -250 | ' |
Net amount recognized | -243 | -267 | ' |
Amounts recognized in Accumulated other comprehensive (loss) income before income taxes at September 30: | ' | ' | ' |
Net transition asset | ' | ' | ' |
Prior service credit | 9 | 10 | ' |
Net actuarial loss | -46 | -71 | ' |
Net amount recognized | ($37) | ($61) | ' |
Benefit_Plans_Pension_Plans_wi
Benefit Plans - Pension Plans with Accumulated Benefit Obligations (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Benefit Obligation | $1,855 | $2,307 |
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | 1,551 | 1,573 |
Projected benefit obligation | 1,551 | 2,055 |
Accumulated benefit obligation | 1,525 | 2,000 |
Fair value of plan assets | $1,285 | $1,364 |
Benefit_Plans_Weighted_Average
Benefit Plans - Weighted Average Assumptions Determining Pension Plan (Detail) | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Nov. 30, 2011 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Net Cost | ' | ' | ' | ' | ' | ' |
Discount rate | ' | 5.10% | 4.90% | ' | ' | ' |
U.S. Plans [Member] | ' | ' | ' | ' | ' | ' |
Net Cost | ' | ' | ' | ' | ' | ' |
Discount rate | 4.90% | 5.10% | 4.90% | 3.90% | 4.90% | 5.20% |
Expected return on plan assets | ' | ' | ' | 7.75% | 7.75% | 8.00% |
Rate of compensation increase | ' | ' | ' | 4.25% | 4.25% | 4.50% |
Benefit Obligation | ' | ' | ' | ' | ' | ' |
Discount rate | 4.95% | ' | 4.90% | 4.95% | 3.90% | 4.90% |
Rate of compensation increase | 4.25% | ' | 4.25% | 4.25% | 4.25% | 4.25% |
Foreign Plans [Member] | ' | ' | ' | ' | ' | ' |
Net Cost | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | 3.94% | 5.26% | 4.68% |
Expected return on plan assets | ' | ' | ' | 5.68% | 6.06% | 6.31% |
Rate of compensation increase | ' | ' | ' | 3.28% | 3.61% | 3.56% |
Benefit Obligation | ' | ' | ' | ' | ' | ' |
Discount rate | 3.87% | ' | 5.26% | 3.87% | 3.94% | 5.26% |
Rate of compensation increase | 2.46% | ' | 3.61% | 2.46% | 3.28% | 3.61% |
Benefit_Plans_Weighted_Average1
Benefit Plans - Weighted Average Assumptions Determining Pension Plan (Parenthetical) (Detail) | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Nov. 30, 2011 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Discount rate | ' | 5.10% | 4.90% | ' | ' | ' |
U.S. Plans [Member] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Discount rate | 4.90% | 5.10% | 4.90% | 3.90% | 4.90% | 5.20% |
Discount rates | 4.95% | ' | 4.90% | 4.95% | 3.90% | 4.90% |
Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Discount rates | 4.40% | ' | ' | 4.40% | ' | ' |
Postemployment Benefit Plan [Member] | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' |
Discount rates | 4.00% | ' | ' | 4.00% | ' | ' |
Benefit_Plans_Expected_Benefit
Benefit Plans - Expected Benefit Payments (Detail) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Pension Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $134 |
2015 | 142 |
2016 | 146 |
2017 | 150 |
2018 | 155 |
2019-2023 | 840 |
Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | 18 |
2015 | 18 |
2016 | 18 |
2017 | 18 |
2018 | 18 |
2019-2023 | $90 |
Benefit_Plans_Fair_Value_Measu
Benefit Plans - Fair Value Measurements of U.S. Plan Assets (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | $83 | $83 | $89 |
U.S. Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 1,235 | 1,107 | ' |
U.S. Plans [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 435 | 746 | ' |
U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 788 | 361 | ' |
U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 12 | ' | ' |
U.S. Plans [Member] | Mortgage and asset-backed securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 174 | 137 | ' |
U.S. Plans [Member] | Mortgage and asset-backed securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Mortgage and asset-backed securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 174 | 137 | ' |
U.S. Plans [Member] | Mortgage and asset-backed securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Corporate bonds [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 217 | 107 | ' |
U.S. Plans [Member] | Corporate bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 102 | ' | ' |
U.S. Plans [Member] | Corporate bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 115 | 107 | ' |
U.S. Plans [Member] | Corporate bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Government and agency-U.S. [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 142 | 75 | ' |
U.S. Plans [Member] | Government and agency-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 97 | 57 | ' |
U.S. Plans [Member] | Government and agency-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 46 | 17 | ' |
U.S. Plans [Member] | Government and agency-U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Government and agency-Foreign [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 122 | 6 | ' |
U.S. Plans [Member] | Government and agency-Foreign [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 74 | ' | ' |
U.S. Plans [Member] | Government and agency-Foreign [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 49 | 6 | ' |
U.S. Plans [Member] | Government and agency-Foreign [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Equity Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 384 | 724 | ' |
U.S. Plans [Member] | Equity Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 62 | 640 | ' |
U.S. Plans [Member] | Equity Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 322 | 85 | ' |
U.S. Plans [Member] | Equity Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Cash and cash equivalents [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 49 | ' |
U.S. Plans [Member] | Cash and cash equivalents [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 49 | ' |
U.S. Plans [Member] | Cash and cash equivalents [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Cash and cash equivalents [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Other [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 193 | ' | ' |
U.S. Plans [Member] | Other [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 97 | ' | ' |
U.S. Plans [Member] | Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 84 | ' | ' |
U.S. Plans [Member] | Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 12 | ' | ' |
U.S. Plans [Member] | Other-Fixed Income [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 9 | ' |
U.S. Plans [Member] | Other-Fixed Income [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
U.S. Plans [Member] | Other-Fixed Income [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | 9 | ' |
U.S. Plans [Member] | Other-Fixed Income [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Benefit_Plans_Changes_in_Fair_
Benefit Plans - Changes in Fair Value of U.S. Pension Assets Measured Using Level 3 Inputs (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Beginning fair value | $83 | $89 |
Purchases, sales and settlements, net | 4 | ' |
Ending fair value | 83 | 83 |
Other (Hedge Funds) [Member] | Us Pension Plan [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Beginning fair value | ' | ' |
Purchases, sales and settlements, net | 12 | ' |
Ending fair value | $12 | ' |
Benefit_Plans_Fair_Value_Measu1
Benefit Plans - Fair Value Measurements of Foreign Plan Assets (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | $83 | $83 | $89 |
Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 1 | 3 | 11 |
Insurance Contracts [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 81 | 80 | 78 |
Foreign Plans [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 549 | 466 | ' |
Foreign Plans [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 361 | 286 | ' |
Foreign Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 105 | 98 | ' |
Foreign Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 83 | 83 | ' |
Foreign Plans [Member] | Corporate bonds [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 46 | 37 | ' |
Foreign Plans [Member] | Corporate bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Corporate bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 46 | 37 | ' |
Foreign Plans [Member] | Corporate bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Government and agency-U.S. [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 3 | ' |
Foreign Plans [Member] | Government and agency-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 3 | ' |
Foreign Plans [Member] | Government and agency-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Government and agency-U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Government and agency-Foreign [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 82 | 76 | ' |
Foreign Plans [Member] | Government and agency-Foreign [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 47 | 35 | ' |
Foreign Plans [Member] | Government and agency-Foreign [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 36 | 40 | ' |
Foreign Plans [Member] | Government and agency-Foreign [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Equity Securities [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 309 | 244 | ' |
Foreign Plans [Member] | Equity Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 294 | 230 | ' |
Foreign Plans [Member] | Equity Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 14 | 15 | ' |
Foreign Plans [Member] | Equity Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Cash and cash equivalents [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 17 | 17 | ' |
Foreign Plans [Member] | Cash and cash equivalents [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 17 | 17 | ' |
Foreign Plans [Member] | Cash and cash equivalents [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Cash and cash equivalents [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Real Estate [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 11 | 9 | ' |
Foreign Plans [Member] | Real Estate [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Real Estate [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 9 | 6 | ' |
Foreign Plans [Member] | Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 1 | 3 | ' |
Foreign Plans [Member] | Insurance Contracts [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | 81 | 80 | ' |
Foreign Plans [Member] | Insurance Contracts [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Insurance Contracts [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | ' | ' | ' |
Foreign Plans [Member] | Insurance Contracts [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' |
Fair value of plan assets | $81 | $80 | ' |
Benefit_Plans_Changes_in_Fair_1
Benefit Plans - Changes in Fair Value of Foreign Pension Assets Measured Using Level 3 Inputs (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Beginning fair value | $83 | $89 |
Actual return on plan assets: | ' | ' |
Return on assets | -1 | 3 |
Purchases, sales and settlements, net | 4 | ' |
Transfers in (out) from other categories | -5 | -6 |
Exchange rate changes | 1 | -3 |
Ending fair value | 83 | 83 |
Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Beginning fair value | 3 | 11 |
Actual return on plan assets: | ' | ' |
Return on assets | ' | ' |
Purchases, sales and settlements, net | -2 | -2 |
Transfers in (out) from other categories | ' | -6 |
Exchange rate changes | ' | ' |
Ending fair value | 1 | 3 |
Insurance Contracts [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Beginning fair value | 80 | 78 |
Actual return on plan assets: | ' | ' |
Return on assets | -1 | 3 |
Purchases, sales and settlements, net | 6 | 1 |
Transfers in (out) from other categories | -5 | ' |
Exchange rate changes | 1 | -3 |
Ending fair value | $81 | $80 |
Benefit_Plans_Postemployment_B
Benefit Plans - Postemployment Benefit Costs (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' |
Service cost | $22 | $16 | $13 |
Interest cost | 6 | 6 | 5 |
Amortization of prior service credit | -2 | -2 | -2 |
Amortization of loss | 21 | 16 | 10 |
Net postemployment benefit cost | $47 | $36 | $27 |
Benefit_Plans_Changes_in_Benef
Benefit Plans - Changes in Benefit Obligation for Postemployment Benefits (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Change in benefit obligation: | ' | ' | ' |
Beginning obligation | $163 | $138 | ' |
Service cost | 22 | 16 | 13 |
Interest cost | 6 | 6 | 5 |
Benefits paid | -29 | -52 | ' |
Actuarial loss | 25 | 55 | ' |
Benefit obligation at September 30 | $186 | $163 | $138 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Mar. 11, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 24, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 24, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 09, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 17, 2011 | Sep. 30, 2013 | Sep. 30, 2013 |
Cato [Member] | Cato [Member] | Cato [Member] | Safety Syringes [Member] | Safety Syringes [Member] | Safety Syringes [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | KIESTRA Lab Automation BV [Member] | KIESTRA Lab Automation BV [Member] | KIESTRA Lab Automation BV [Member] | Carmel Pharma [Member] | Carmel Pharma [Member] | Carmel Pharma [Member] | Accuri Cytometers, Inc [Member] | Accuri Cytometers, Inc [Member] | Accuri Cytometers, Inc [Member] | |
Medical [Member] | Medical [Member] | Minimum [Member] | Maximum [Member] | Patent [Member] | Developed technology [Member] | Biosciences [Member] | Diagnostics [Member] | Medical [Member] | Biosciences [Member] | ||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of outstanding shares acquired | 100.00% | ' | ' | 100.00% | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | 100.00% | ' | ' | 100.00% | ' | ' |
Acquisition-date fair value of consideration transferred net of in cash acquired | $23 | $23 | ' | $124 | $124 | ' | $64 | ' | $64 | ' | ' | ' | ' | ' | $58 | $58 | ' | $287 | $287 | ' | $205 | $205 | ' |
Fair value of consideration transferred in cash | 14 | ' | ' | 124 | ' | ' | 53 | ' | ' | ' | ' | ' | ' | ' | 49 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of contingent consideration | 9 | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' |
Developed technology | ' | 9 | ' | ' | 69 | ' | ' | 19 | 19 | ' | ' | ' | ' | ' | ' | 13 | ' | ' | ' | ' | ' | 112 | ' |
Risk-adjusted discount rate | ' | 14.50% | ' | ' | 16.00% | ' | ' | ' | ' | ' | ' | 20.00% | 22.00% | ' | ' | 14.50% | ' | ' | ' | ' | ' | ' | ' |
Amortization of technology, expected useful life | ' | '15 years | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | '14 years | '16 years | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | 11 | 11 | ' | 34 | 34 | ' | ' | 34 | ' | ' | ' | ' | 34 | ' | 35 | 35 | ' | 145 | 145 | ' | 93 | 93 |
Portion of goodwill currently expected to be deductible for tax purposes | ' | 0 | ' | ' | 34 | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' |
Acquisition-related costs in the current period | ' | 1 | ' | ' | 2 | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | 2 | ' | ' | 5 | ' | ' | 1 | ' |
Cash acquired in acquisition | ' | ' | ' | 1 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | 5 | ' | ' | 3 | ' | ' |
Fair value of consideration transferred for effective settlement of an intangible asset | ' | ' | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain/loss recognized on settlement | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Patent | ' | ' | ' | ' | ' | ' | ' | 11 | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquired in-process research and development | ' | ' | ' | ' | ' | ' | ' | 12 | 12 | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | 42 | ' |
Technological and commercial risk | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' |
Risk-adjusted discount rate used to determine fair value of in-process research and development assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.00% | 26.00% | ' | ' | ' | ' | 15.50% | ' | ' | ' | ' | ' | ' | ' |
Research and development assets reclassified | ' | ' | ' | ' | ' | ' | ' | 8 | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life assigned to amount reclassified from net core Dev. Tech | ' | ' | ' | ' | ' | ' | ' | '16 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price adjustment recorded in fiscal year 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Fair_Value_of_Ass
Acquisitions - Fair Value of Assets and Liabilities Assumed (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 24, 2012 | Sep. 30, 2013 | Aug. 24, 2012 | Sep. 30, 2013 | Feb. 09, 2012 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2013 | Mar. 17, 2011 | Sep. 30, 2013 | Mar. 11, 2013 | Sep. 30, 2013 |
Safety Syringes [Member] | Safety Syringes [Member] | Sirigen Group Limited [Member] | Sirigen Group Limited [Member] | KIESTRA Lab Automation BV [Member] | KIESTRA Lab Automation BV [Member] | Carmel Pharma [Member] | Carmel Pharma [Member] | Accuri Cytometers, Inc [Member] | Accuri Cytometers, Inc [Member] | Cato [Member] | Cato [Member] | |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Patent | ' | ' | ' | $11 | ' | ' | ' | ' | ' | ' | ' | ' |
Product rights | ' | ' | ' | ' | ' | ' | ' | 162 | ' | ' | ' | ' |
Developed technology | ' | 69 | ' | 19 | ' | 13 | ' | ' | ' | 112 | ' | 9 |
Customer relationships | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' |
Acquired in-process research and development | ' | ' | ' | 12 | ' | 7 | ' | ' | ' | 42 | ' | ' |
Other intangibles | ' | 5 | ' | ' | ' | 5 | ' | ' | ' | 3 | ' | 4 |
Property, plant and equipment, net | ' | 7 | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' |
Trade receivables, net | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets | ' | ' | ' | 3 | ' | ' | ' | 2 | ' | 11 | ' | ' |
Other | ' | 7 | ' | 1 | ' | 10 | ' | 32 | ' | 8 | ' | 1 |
Total identifiable assets acquired | ' | 93 | ' | 45 | ' | 40 | ' | 200 | ' | 175 | ' | 14 |
Deferred tax liabilities | ' | ' | ' | -14 | ' | -6 | ' | -45 | ' | -59 | ' | ' |
Other | ' | ' | ' | -1 | ' | -12 | ' | -13 | ' | -5 | ' | ' |
Liabilities assumed | ' | -4 | ' | -15 | ' | -18 | ' | -58 | ' | -64 | ' | -2 |
Net identifiable assets acquired | ' | 90 | ' | 30 | ' | 22 | ' | 142 | ' | 112 | ' | 12 |
Goodwill | ' | 34 | ' | 34 | ' | 35 | ' | 145 | ' | 93 | ' | 11 |
Net assets acquired | $124 | $124 | $64 | $64 | $58 | $58 | $287 | $287 | $205 | $205 | $23 | $23 |
Divestitures_Additional_Inform
Divestitures - Additional Information (Detail) (Discovery Labware [Member], USD $) | 1 Months Ended | 3 Months Ended |
In Millions, unless otherwise specified | Oct. 31, 2012 | Jun. 30, 2013 |
Discovery Labware [Member] | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' |
Proceeds from sale of productive assets | $740 | ' |
Pre-tax gain on sale | 577 | ' |
After-tax gain on sale | 355 | ' |
Amount of goodwill derecognized | 17 | ' |
Additional payment received from the sale | ' | $16 |
Divestitures_Results_of_Discon
Divestitures - Results of Discontinued Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' | ' |
Revenues | $20 | $238 | $248 |
Income from discontinued operations before income taxes | 586 | 92 | 105 |
Less income tax provision | 222 | 31 | 35 |
Income from discontinued operations, net | $364 | $60 | $70 |
Intangible_Assets_Components_o
Intangible Assets - Components of Other Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Finite And Indefinite Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $1,457 | $1,346 |
Accumulated Amortization | 679 | 597 |
Unamortized intangible assets, Total | 56 | 64 |
Acquired in-process research and development [Member] | ' | ' |
Finite And Indefinite Lived Intangible Assets [Line Items] | ' | ' |
Unamortized intangible assets, Total | 54 | 61 |
Trademarks [Member] | ' | ' |
Finite And Indefinite Lived Intangible Assets [Line Items] | ' | ' |
Unamortized intangible assets, Total | 2 | 3 |
Core and developed technology [Member] | ' | ' |
Finite And Indefinite Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 942 | 857 |
Accumulated Amortization | 401 | 345 |
Product rights [Member] | ' | ' |
Finite And Indefinite Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 167 | 163 |
Accumulated Amortization | 24 | 12 |
Patents, trademarks, and other [Member] | ' | ' |
Finite And Indefinite Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 349 | 326 |
Accumulated Amortization | $254 | $240 |
Intangible_Assets_Additional_I
Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Intangible amortization expense | $83 | $71 | $54 |
Estimated aggregate amortization expense in 2014 | 84 | ' | ' |
Estimated aggregate amortization expense in 2015 | 83 | ' | ' |
Estimated aggregate amortization expense in 2016 | 79 | ' | ' |
Estimated aggregate amortization expense in 2017 | 78 | ' | ' |
Estimated aggregate amortization expense in 2018 | $75 | ' | ' |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
In Millions, unless otherwise specified | Jul. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2010 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 |
5-year 1.75% notes [Member] | 10-year 3.125% notes [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Interest rate swaps [Member] | Interest rate swaps [Member] | Interest rate swaps [Member] | Interest rate swaps [Member] | Interest rate swaps [Member] | Interest rate swaps [Member] | Interest rate swaps [Member] | Forward exchange contracts [Member] | Forward exchange contracts [Member] | Commodity forward contracts [Member] | Commodity forward contracts [Member] | Commodity forward contracts [Member] | Commodity forward contracts [Member] | Commodity Derivatives [Member] | |||||
4.55% notes, due April 15, 2013 [Member] | 10-year 3.25% notes [Member] | 30-year 5.00% notes [Member] | Fair value hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | Cash flow hedges [Member] | |||||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of outstanding derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200 | $0 | $0 | ' | $2,200 | $2,000 | $23 | ' | ' | ' | $0 |
Reclassification of terminated interest rate swaps to interest expense within the next 12 months | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial instruments related to hedges, issuing amount | ' | ' | ' | ' | 500 | 1,000 | ' | ' | ' | 200 | 700 | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial instruments related to hedges, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Apr-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial instruments related to hedges, Interest rate | ' | ' | ' | ' | 1.75% | 3.13% | ' | ' | ' | 4.55% | 3.25% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of resin spend covered by hedge program | 16.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax | ' | ' | ' | -34 | ' | ' | 2 | ' | -34 | ' | ' | ' | ' | ' | 1 | -34 | ' | ' | ' | 2 | -1 | ' | ' |
Financial instruments related to hedges, maturity period | ' | ' | ' | ' | '5 years | '10 years | ' | ' | ' | ' | '10 years | '30 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains or losses, related to hedge ineffectiveness | ' | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities - Effects on Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives | $13 | $20 |
Liability derivatives | 7 | 18 |
Designated for Hedge Accounting [Member] | Interest rate swaps [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives | ' | 2 |
Designated for Hedge Accounting [Member] | Commodity forward contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability derivatives | ' | 2 |
Not Designated for Hedge Accounting [Member] | Forward exchange contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset derivatives | 13 | 17 |
Liability derivatives | $7 | $17 |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities - Cash Flow Hedges (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax | ' | ' | ($34) |
Cash flow hedges [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax | 2 | ' | -34 |
Gain (Loss) Reclassified from Accumulated OCI into Income, Net of Tax | -4 | -5 | -1 |
Cash flow hedges [Member] | Interest rate swaps [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax | ' | 1 | -34 |
Cash flow hedges [Member] | Commodity forward contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax | 2 | -1 | ' |
Cash flow hedges [Member] | Interest expense [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) Reclassified from Accumulated OCI into Income, Net of Tax | -5 | -5 | -1 |
Cash flow hedges [Member] | Cost of products sold [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gain (Loss) Reclassified from Accumulated OCI into Income, Net of Tax | $1 | ' | ' |
Derivative_Instruments_and_Hed5
Derivative Instruments and Hedging Activities - Fair Value Hedge (Detail) (Other income (expense) [Member], Fair value hedges [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Swap [Member] | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Gain/(Loss) on the hedged fixed rate debt attributable to changes in the market interest rates | ($2) | ($4) | ($3) |
Borrowings [Member] | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Gain/(Loss) on the hedged fixed rate debt attributable to changes in the market interest rates | $2 | $4 | $3 |
Derivative_Instruments_and_Hed6
Derivative Instruments and Hedging Activities - Undesignated Hedges (Detail) (Not Designated for Hedge Accounting [Member], Forward exchange contracts [Member], Other income (expense) [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Not Designated for Hedge Accounting [Member] | Forward exchange contracts [Member] | Other income (expense) [Member] | ' | ' | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivative | ($1) | ($7) | ($1) |
Financial_Instruments_and_Fair2
Financial Instruments and Fair Value Measurements - Fair Value of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Institutional money market investments | $881 | $1,066 |
Forward exchange contracts | 13 | 17 |
Interest rate swap | ' | 2 |
Total Assets | 895 | 1,085 |
Liabilities | ' | ' |
Forward exchange contracts | 7 | 17 |
Commodity forward contracts | ' | 2 |
Contingent consideration liabilities | 23 | 20 |
Total Liabilities | 30 | 38 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets | ' | ' |
Institutional money market investments | 881 | 1,066 |
Forward exchange contracts | ' | ' |
Interest rate swap | ' | ' |
Total Assets | 881 | 1,066 |
Liabilities | ' | ' |
Forward exchange contracts | ' | ' |
Commodity forward contracts | ' | ' |
Contingent consideration liabilities | ' | ' |
Total Liabilities | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets | ' | ' |
Institutional money market investments | ' | ' |
Forward exchange contracts | 13 | 17 |
Interest rate swap | ' | 2 |
Total Assets | 13 | 20 |
Liabilities | ' | ' |
Forward exchange contracts | 7 | 17 |
Commodity forward contracts | ' | 2 |
Contingent consideration liabilities | ' | ' |
Total Liabilities | 7 | 18 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets | ' | ' |
Institutional money market investments | ' | ' |
Forward exchange contracts | ' | ' |
Interest rate swap | ' | ' |
Total Assets | ' | ' |
Liabilities | ' | ' |
Forward exchange contracts | ' | ' |
Commodity forward contracts | ' | ' |
Contingent consideration liabilities | 23 | 20 |
Total Liabilities | $23 | $20 |
Financial_Instruments_and_Fair3
Financial Instruments and Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Remaining cash equivalents | $1,009 | $606 | ' |
Maturity period of cash equivalents at the time of purchase | 'Three months or less | ' | ' |
Maturity period of instruments in short-term investments | 'Three months and less than one year | ' | ' |
Fair value of long-term debt | 4,000 | 4,300 | ' |
Transfer of assets in and out of level 1, 2 and 3 measurements during the period | 0 | 0 | ' |
Transfer of liabilities in and out of level 1, 2 and 3 measurements during the period | 0 | 0 | ' |
Impairment charge recorded to Research and development expense, resulting from discontinuance of a research program within the Diagnostic Systems unit | ' | ' | 9 |
Government Related Account [Member] | ITALY [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Balance on government-related account receivable | 73 | 71 | ' |
Government Related Account [Member] | SPAIN [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Balance on government-related account receivable | 61 | 43 | ' |
4.55% notes due April 15, 2013 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of debt | 200 | ' | ' |
Debt instrument, interest rate | 4.55% | ' | ' |
Fair value of debt reclassified from long term to short term | ' | $206 | ' |
Debt_Summary_of_ShortTerm_Debt
Debt - Summary of Short-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Current portion of long-term debt | ' | $202 |
Short-term debt | 207 | 405 |
Domestic Line of Credit [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term Borrowings | 200 | 200 |
Foreign Line of Credit [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term Borrowings | $7 | $3 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Nov. 03, 2011 | Nov. 03, 2011 |
In Millions, unless otherwise specified | Domestic Debt [Member] | Foreign Debt [Member] | 4.55% Notes due April 15, 2013 [Member] | 4.55% Notes due April 15, 2013 [Member] | 5-year 1.75% notes [Member] | 10-year 3.125% notes [Member] | ||
Syndicated credit facility [Member] | Syndicated credit facility [Member] | |||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of debt | ' | ' | ' | ' | $200 | ' | ' | ' |
Interest rates of debt instruments | ' | ' | ' | ' | ' | 4.55% | 1.75% | 3.13% |
Short-term Debt, Weighted Average Interest Rate | 0.51% | 1.35% | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity of syndicated credit facility | ' | ' | 1,000 | ' | ' | ' | ' | ' |
Expiration date of syndicated credit facility | ' | ' | 31-May-17 | ' | ' | ' | ' | ' |
Additional commitments made by the lenders | 500 | ' | ' | ' | ' | ' | ' | ' |
Maximum aggregate commitment | 1,500 | ' | ' | ' | ' | ' | ' | ' |
Restrictive covenant description | ' | ' | 'Requires a minimum interest coverage ratio | ' | ' | ' | ' | ' |
Restrictive covenant compliance | ' | ' | 'In compliance | ' | ' | ' | ' | ' |
Unused short-term foreign lines of credit pursuant to informal arrangements | ' | ' | ' | 176 | ' | ' | ' | ' |
Borrowings under credit facility | ' | ' | ' | 0 | ' | ' | ' | ' |
Face amounts of notes due | ' | ' | ' | ' | ' | ' | 500 | 1,000 |
Debt instrument maturity period (years) | ' | ' | ' | ' | ' | ' | '5 years | '10 years |
Aggregate annual maturities of long-term debt, 2014 | 0 | ' | ' | ' | ' | ' | ' | ' |
Aggregate annual maturities of long-term debt, 2015 | 0 | ' | ' | ' | ' | ' | ' | ' |
Aggregate annual maturities of long-term debt, 2016 | 0 | ' | ' | ' | ' | ' | ' | ' |
Aggregate annual maturities of long-term debt, 2017 | 500 | ' | ' | ' | ' | ' | ' | ' |
Aggregate annual maturities of long-term debt, 2018 | $200 | ' | ' | ' | ' | ' | ' | ' |
Debt_Summary_of_LongTerm_Debt_
Debt - Summary of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | $3,763 | $3,761 |
1.75% Notes due November 8, 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 498 | 497 |
4.90% Notes due April 15, 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 203 | 204 |
5.00% Notes due May 15, 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 496 | 495 |
3.25% Notes due November 12, 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 696 | 696 |
3.125% Notes due November 8, 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 993 | 992 |
7.00% Debentures due August 1, 2027 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 168 | 168 |
6.70% Debentures due August 1, 2028 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 167 | 167 |
6.00% Notes due May 15, 2039 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | 246 | 245 |
5.00% Notes due November 12, 2040 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt, Gross | $296 | $296 |
Debt_Summary_of_LongTerm_Debt_1
Debt - Summary of Long-Term Debt (Parenthetical) (Detail) | 12 Months Ended |
Sep. 30, 2013 | |
1.75% Notes due November 8, 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 1.75% |
Debt instrument maturity period | 8-Nov-16 |
4.90% Notes due April 15, 2018 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 4.90% |
Debt instrument maturity period | 15-Apr-18 |
5.00% Notes due May 15, 2019 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 5.00% |
Debt instrument maturity period | 15-May-19 |
3.25% Notes due November 12, 2020 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 3.25% |
Debt instrument maturity period | 12-Nov-20 |
3.125% Notes due November 8, 2021 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 3.13% |
Debt instrument maturity period | 8-Nov-21 |
7.00% Debentures due August 1, 2027 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 7.00% |
Debt instrument maturity period | 1-Aug-27 |
6.70% Debentures due August 1, 2028 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 6.70% |
Debt instrument maturity period | 1-Aug-28 |
6.00% Notes due May 15, 2039 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 6.00% |
Debt instrument maturity period | 15-May-39 |
5.00% Notes due November 12, 2040 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates of debt instruments | 5.00% |
Debt instrument maturity period | 12-Nov-40 |
Debt_Summary_of_Interest_Costs
Debt - Summary of Interest Costs and Payments (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Debt Disclosure [Abstract] | ' | ' | ' |
Charged to operations | $138 | $135 | $84 |
Capitalized | 33 | 34 | 38 |
Total interest costs | 171 | 169 | 122 |
Interest paid, net of amounts capitalized | $143 | $119 | $68 |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes from Continuing Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal | $206 | $164 | $168 |
State and local, including Puerto Rico | -1 | 10 | 21 |
Foreign | 179 | 241 | 211 |
Total, Current | 384 | 415 | 400 |
Domestic | -152 | -29 | -15 |
Foreign | 3 | -23 | 32 |
Total, Deferred | -149 | -52 | 17 |
Total | $236 | $363 | $417 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income From Continuing Operations Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic, including Puerto Rico | $288 | $605 | $843 |
Foreign | 877 | 868 | 775 |
Income From Continuing Operations Before Income Taxes | $1,165 | $1,472 | $1,618 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax [Line Items] | ' | ' | ' |
Net current deferred tax | $343 | $178 | ' |
Net non-current deferred tax assets | 73 | 127 | ' |
Net current deferred tax liabilities | 8 | 4 | ' |
Net non-current deferred tax liabilities | 203 | 72 | ' |
Cumulative amount of undistributed earnings reinvested in foreign operation | 4,400 | ' | ' |
Accrued unrecognized tax benefits interest and penalties | 8 | 10 | 9 |
Unrecognized tax benefits interest and penalties reflected in current year | 2 | 1 | 1 |
Tax reductions related to tax holidays | 95 | 83 | 60 |
Expiration period of tax holidays | 'Through 2026 | ' | ' |
Net of income tax refunds | $454 | $218 | $512 |
Foreign Jurisdictions [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Major tax jurisdictions | '2007 | ' | ' |
U S [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Major tax jurisdictions | '2011 | ' | ' |
Minimum [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Expiration period of deferred tax assets | '2014 | ' | ' |
Maximum [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Expiration period of deferred tax assets | '2018 | ' | ' |
Income_Taxes_Summary_of_Gross_
Income Taxes - Summary of Gross Amounts of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Unrecognized tax benefits, beginning balance | $143 | $126 | $82 |
Increase due to current year tax positions | 64 | 37 | 38 |
Increase due to prior year tax positions | 25 | 2 | 11 |
Decreases due to prior year tax positions | -12 | -3 | -2 |
Decrease due to settlements and lapse of statute of limitations | -87 | -19 | -3 |
Unrecognized tax benefits, ending balance | $134 | $143 | $126 |
Income_Taxes_Deferred_Income_T
Income Taxes - Deferred Income Taxes (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Compensation and benefits, Assets | $478 | $606 |
Property and equipment, Assets | ' | ' |
Loss and credit carryforwards, Assets | 308 | 181 |
Other, Assets | 399 | 266 |
Deferred income taxes, Assets, gross | 1,185 | 1,053 |
Valuation allowance, Assets | -284 | -159 |
Deferred income taxes, Assets | 901 | 894 |
Property and equipment, Liabilities | 468 | 446 |
Other, Liabilities | 229 | 219 |
Deferred income taxes, Liabilities, gross | 697 | 665 |
Deferred income taxes, Liabilities | $697 | $665 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Federal Statutory Tax Rate to Company's Effective Tax Rate (Detail) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal statutory tax rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal tax benefit | -1.20% | 0.20% | 1.20% |
Effect of foreign and Puerto Rico earnings and foreign tax credits | -9.70% | -8.20% | -7.50% |
Effect of Research Credits and Domestic Production Activities, | -3.80% | -1.70% | -2.70% |
Other, net | -0.10% | -0.70% | -0.20% |
Total | 20.20% | 24.60% | 25.80% |
Supplemental_Financial_Informa2
Supplemental Financial Information - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 |
Discovery Labware [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Other income (expense), net | $9 | ($1) | ($7) | ' |
Net cash flows from contract manufacturing and other transition services related to sale of Discovery Labware | ' | ' | ' | 11 |
Equity investment income | 5 | 12 | 3 | ' |
Income from license and other agreements | 3 | 5 | 4 | ' |
Gain recognized on the sale of asset | 1 | ' | 2 | ' |
Foreign exchange losses (inclusive of hedging costs) | -10 | -19 | -13 | ' |
Write-down of certain investments | ' | ' | -3 | ' |
Allowances for doubtful accounts and cash discounts netted against trade receivables | $50 | $45 | ' | ' |
Supplemental_Financial_Informa3
Supplemental Financial Information - Trade Receivables, Allowances for Doubtful Accounts and Cash Discounts (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning Balance | $45 | $43 | $46 |
Additions charged to costs and expenses | 49 | 45 | 39 |
Deductions and other | -44 | -44 | -42 |
Ending Balance | 50 | 45 | 43 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning Balance | 36 | 36 | 40 |
Additions charged to costs and expenses | 9 | 6 | 13 |
Deductions and other | -3 | -6 | -17 |
Ending Balance | 41 | 36 | 36 |
Allowance for Cash Discounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning Balance | 9 | 8 | 6 |
Additions charged to costs and expenses | 40 | 39 | 26 |
Deductions and other | -41 | -37 | -24 |
Ending Balance | $9 | $9 | $8 |
Supplemental_Financial_Informa4
Supplemental Financial Information - Inventories (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Supplemental Financial Data Disclosure [Abstract] | ' | ' |
Materials | $226 | $201 |
Work in process | 258 | 247 |
Finished products | 918 | 793 |
Inventories | $1,402 | $1,241 |
Supplemental_Financial_Informa5
Supplemental Financial Information - Property, Plant and Equipment, Net (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Supplemental Financial Data Disclosure [Abstract] | ' | ' |
Land | $97 | $102 |
Buildings | 2,286 | 2,194 |
Machinery, equipment and fixtures | 4,970 | 4,669 |
Leasehold improvements | 85 | 80 |
Property, Plant and Equipment, gross | 7,437 | 7,046 |
Less accumulated depreciation and amortization | 3,961 | 3,742 |
Property, Plant and Equipment, Net | $3,476 | $3,304 |