v3.3.0.814
Pension, Postretirement and Other Benefits (Tables)
 12 Months Ended
Sep. 30, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Change in Benefit Obligation:
 
Pension Benefits
 
Other
Postretirement Benefits
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
 
(in millions)
Benefit obligation—beginning of fiscal year
$
983

 
$
897

 
$
20

 
$
25

Service cost
47

 
46

 
—

 
—

Interest cost
40

 
42

 
1

 
1

Actuarial loss (gain)
40

 
84

 
—

 
(2
)
Benefit payments
(105
)
 
(83
)
 
(3
)
 
(4
)
Plan amendment
—

 
(3
)
 
—

 
—

Benefit obligation—end of fiscal year
$
1,005

 
$
983

 
$
18

 
$
20

Accumulated benefit obligation
$
994

 
$
977

 
NA

 
NA

Change in Plan Assets:
 
 
 
 
 
 
 
Fair value of plan assets—beginning of fiscal year
$
1,117

 
$
1,055

 
$
—

 
$
—

Actual return on plan assets
(6
)
 
135

 
—

 
—

Company contribution
16

 
10

 
3

 
4

Benefit payments
(105
)
 
(83
)
 
(3
)
 
(4
)
Fair value of plan assets—end of fiscal year
$
1,022

 
$
1,117

 
$
—

 
$
—

Funded status at end of fiscal year
$
17

 
$
134

 
$
(18
)
 
$
(20
)
Recognized in Consolidated Balance Sheets:
 
 
 
 
 
 
 
Non-current asset
$
36

 
$
164

 
$
—

 
$
—

Current liability
(9
)
 
(7
)
 
(3
)
 
(3
)
Non-current liability
(10
)
 
(23
)
 
(15
)
 
(17
)
Funded status at end of fiscal year
$
17

 
$
134

 
$
(18
)
 
$
(20
)
 
 
 
 
 
 
 
 
Pension and Other Postretirement Benefits, Recognized in Accumulated Comprehensive Income (Loss) Disclosure
Amounts recognized in accumulated other comprehensive income before tax: 
 
Pension Benefits
 
Other
Postretirement Benefits
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
 
(in millions)
Net actuarial loss (gain)
$
232

 
$
121

 
$
(5
)
 
$
(7
)
Prior service credit
(9
)
 
(16
)
 
(5
)
 
(8
)
Total
$
223

 
$
105

 
$
(10
)
 
$
(15
)
Pension And Other Postretirement Benefits, Expected Amortization Of Accumulated Other Comprehensive Income, Disclosure
Amounts from accumulated other comprehensive income to be amortized into net periodic benefit cost in fiscal 2016: 
 
Pension Benefits
 
Other
Postretirement
 Benefits
 
(in millions)
Actuarial loss (gain)
$
14

 
$
(1
)
Prior service credit
(7
)
 
(3
)
Total
$
7

 
$
(4
)
Plans With Accumulated And Projected Benefit Obligations In Excess Of The Fair Value Of Plan Assets, Disclosure
Benefit obligations in excess of plan assets related to the Company's non-qualified plan:
 
Pension Benefits
September 30,
 
2015
 
2014
 
(in millions)
Accumulated benefit obligation in excess of plan assets
 
 
 
Accumulated benefit obligation—end of year
$
(19
)
 
$
(30
)
Fair value of plan assets—end of year
$
—

 
$
—

Projected benefit obligation in excess of plan assets
 
 
 
Benefit obligation—end of year
$
(19
)
 
$
(30
)
Fair value of plan assets—end of year
$
—

 
$
—
Schedule of Defined Benefit Plans Disclosures
Net periodic pension and other postretirement plan cost:
 
Pension Benefits
 
Other
Postretirement Benefits
Fiscal
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
 
(in millions)
Service cost
$
47

 
$
46

 
$
43

 
$
—

 
$
—

 
$
—

Interest cost
40

 
42

 
35

 
1

 
1

 
1

Expected return on assets
(72
)
 
(68
)
 
(61
)
 
—

 
—

 
—

Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Prior service credit
(7
)
 
(8
)
 
(9
)
 
(3
)
 
(3
)
 
(3
)
Actuarial loss (gain)
1

 
1

 
28

 
(2
)
 
(1
)
 
(1
)
Net benefit cost
$
9

 
$
13

 
$
36

 
$
(4
)
 
$
(3
)
 
$
(3
)
Curtailment gain
—

 
(3
)
 
—

 
—

 
—

 
—

Settlement loss
7

 
3

 
—

 
—

 
—

 
—

Total net periodic benefit cost
$
16

 
$
13

 
$
36

 
$
(4
)
 
$
(3
)
 
$
(3
)
 
Pension and Other Postretirement Benefits, Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income) Disclosure
Other changes in plan assets and benefit obligations recognized in other comprehensive income: 
 
Pension Benefits
 
Other
Postretirement Benefits
2015
 
2014
 
2015
 
2014
 
(in millions)
Current year actuarial loss (gain)
$
119

 
$
18

 
$
—

 
$
(2
)
Amortization of actuarial (loss) gain
(8
)
 
(4
)
 
2

 
1

Current year prior service credit
—

 
(3
)
 
—

 
—

Amortization of prior service credit
7

 
11

 
3

 
3

Total recognized in other comprehensive income
$
118

 
$
22

 
$
5

 
$
2

Total recognized in net periodic benefit cost and other comprehensive income
$
134

 
$
35

 
$
1

 
$
(1
)
 
 
 
 
 
 
 
 
Pension and Other Postretirement Benefits, Net Periodic Benefit Costs Weighted Average Assumptions Disclosure
Weighted Average Actuarial Assumptions:
 
Fiscal
 
2015
 
2014
 
2013
Discount rate for benefit obligation:(1)
 
 
 
 
 
Pension
4.33
%
 
4.27
%
 
4.81
%
Postretirement
2.43
%
 
2.59
%
 
2.76
%
Discount rate for net periodic benefit cost:
 
 
 
 
 
Pension
4.27
%
 
4.81
%
 
3.85
%
Postretirement
2.59
%
 
2.76
%
 
2.21
%
Expected long-term rate of return on plan assets(2)
7.00
%
 
7.00
%
 
7.00
%
Rate of increase in compensation levels for:
 
 
 
 
 
Benefit obligation
4.00
%
 
4.00
%
 
4.50
%
Net periodic benefit cost
4.00
%
 
4.50
%
 
4.50
%
(1) 
Based on a “bond duration matching” methodology, which reflects the matching of projected plan liability cash flows to an average of high-quality corporate bond yield curves whose duration matches the projected cash flows.
(2) 
Primarily based on the targeted allocation, and evaluated for reasonableness by considering such factors as: (i) actual return on plan assets; (ii) historical rates of return on various asset classes in the portfolio; (iii) projections of returns on various asset classes; and (iv) current and prospective capital market conditions and economic forecasts.
Fair Value of Net Pension Plan Assets Disclosure
The following table sets forth by level, within the fair value hierarchy, the pension plan’s investments at fair value as of September 30, 2015 and 2014, including the impact of unsettled transactions:
 
 
Fair Value Measurements at September 30,
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
 
(in millions)
Cash equivalents
$
11

 
$
22

 
 
 
 
 
 
 
 
 
$
11

 
$
22

Corporate debt securities
 
 
 
 
$
169

 
$
144

 
 
 
 
 
169

 
144

U.S. government-sponsored debt securities(1)
 
 
 
 
66

 
106

 
 
 
 
 
66

 
106

U.S. Treasury securities(1)
74

 
53

 
 
 
 
 
 
 
 
 
74

 
53

Asset-backed securities
 
 
 
 
 
 
 
 
$
31

 
$
25

 
31

 
25

Equity securities
671

 
767

 
 
 
 
 
 
 
 
 
671

 
767

Total
$
756

 
$
842

 
$
235

 
$
250

 
$
31

 
$
25

 
$
1,022

 
$
1,117


(1) 
U.S. Treasury securities are Level 1 assets, but were previously presented in aggregate with U.S. government-sponsored debt securities as Level 2. The Company now presents U.S. Treasury securities separately for disclosure purposes. There were no changes to the valuation techniques or related inputs used to measure fair value. Prior period amounts reflect the change in presentation.
Pension and Other Postretirement Benefits, Employer Contributions and Expected Benefit Payments Disclosure
 
Pension
Benefits
 
Other
Postretirement
Benefits
Actual employer contributions
(in millions)
2015
$
16

 
$
3

2014
$
10

 
$
4

Expected employer contributions
 
 
 
2016
$
9

 
$
3

Expected benefit payments
 
 
 
2016
$
146

 
$
3

2017
$
92

 
$
3

2018
$
94

 
$
3

2019
$
93

 
$
3

2020
$
93

 
$
2

2021-2025
$
462

 
$
5