Air Products Chemicals Inc
For the period ended Sep 30, 2024. Filed Nov 21, 2024.
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FY2024 · Filed Nov 21, 2024
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Supplemental Information
- SUPPLEMENTAL INFORMATION
Related Party Transactions
We have related party sales to some of our equity affiliates and joint venture partners as well as other income primarily from fees charged for use of Air Products' patents and technology. Sales to and other income from related parties totaled approximately $350, $380, and $300 for the fiscal years ended 30 September 2024, 2023, and 2022, respectively. Sales agreements with related parties include terms that are consistent with those that we believe would have been negotiated at an arm’s length with an independent party. As of 30 September 2024 and 2023, our consolidated balance sheets included related party trade receivables of approximately $120 and $80, respectively.
Refer to Note 17, Debt, for information concerning debt owed to related parties.
Supplemental Balance Sheet Information
| Other Receivables and Current Assets | ||
|---|---|---|
| 30 September | 2024 | 2023 |
| Derivative instruments | $93.9 | $73.5 |
| Value added tax receivable | 195.9 | 209.6 |
| Contract fulfillment costs | 103.7 | 89.0 |
| Contract assets | 76.2 | 124.7 |
| Current lease receivables | 74.5 | 78.0 |
| Current financing receivables | — | 50.0 |
| Other | 66.6 | 97.3 |
| Other receivables and current assets | $610.8 | $722.1 |
| Other Noncurrent Assets | ||
|---|---|---|
| 30 September | 2024 | 2023 |
| World Energy deferred project costs | $329.4 | $202.9 |
| Pension benefits | 200.0 | 120.0 |
| Deferred tax assets | 127.8 | 159.6 |
| Prepaid tax | 41.0 | 22.2 |
| Investments other than equity method | 67.1 | 66.9 |
| Deferred financing fees | 4.6 | 58.8 |
| Derivative instruments | 48.7 | 320.6 |
| Other | 352.9 | 278.9 |
| Other noncurrent assets | $1,171.5 | $1,229.9 |
| Payables and Accrued Liabilities | ||
|---|---|---|
| 30 September | 2024 | 2023 |
| Trade creditors | $1,451.6 | $1,212.9 |
| Contract liabilities | 240.0 | 413.0 |
| Dividends payable | 393.6 | 388.9 |
| Accrued payroll and employee benefits | 257.2 | 284.4 |
| Accrued interest | 120.6 | 106.4 |
| Current lease obligations | 100.3 | 94.7 |
| Derivative instruments | 44.6 | 98.7 |
| Pension and postretirement benefits | 11.3 | 9.6 |
| Other | 307.0 | 281.5 |
| Payables and accrued liabilities | $2,926.2 | $2,890.1 |
| Other Noncurrent Liabilities | ||
|---|---|---|
| 30 September | 2024 | 2023 |
| Asset retirement obligations | $322.9 | $285.1 |
| Pension benefits | 236.1 | 192.3 |
| Postretirement benefits | 8.9 | 10.3 |
| Derivative instruments | 56.0 | 112.7 |
| Long-term accrued income taxes related to U.S. tax reform | 60.8 | 109.4 |
| Contingencies related to uncertain tax positions | 98.5 | 89.6 |
| Contract liabilities | 290.0 | 136.9 |
| Environmental liabilities | 67.2 | 50.2 |
| Other | 210.1 | 131.5 |
| Other noncurrent liabilities | $1,350.5 | $1,118.0 |
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