Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Air Products & Chemicals Inc., adjusted current assets

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Current assets	8,684,900)	4,618,300)	5,082,200)	5,876,700)	4,317,300)	2,910,800)
Adjustments
Add: Allowance for doubtful accounts	23,900)	48,800)	24,000)	45,800)	22,800)	26,300)
Add: LIFO reserve¹	—)	—)	—)	23,300)	79,000)	100,800)
Less: Current deferred tax assets (included in Other receivables and current assets)²	—)	—)	—)	—)	—)	117,200)
After Adjustment
Adjusted current assets	8,708,800)	4,667,100)	5,106,200)	5,945,800)	4,419,100)	2,920,700)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ LIFO reserve. See details »

² Current deferred tax assets (included in Other receivables and current assets). See details »

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Air Products & Chemicals Inc., adjusted total assets

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Total assets	25,168,500)	18,942,800)	19,178,300)	18,467,200)	18,055,300)	17,438,100)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	264,039)	211,716)	172,795)	194,476)	334,361)
Add: Allowance for doubtful accounts	23,900)	48,800)	24,000)	45,800)	22,800)	26,300)
Add: LIFO reserve²	—)	—)	—)	23,300)	79,000)	100,800)
Less: Current deferred tax assets (included in Other receivables and current assets)³	—)	—)	—)	—)	—)	117,200)
Less: Noncurrent deferred tax assets (included in Other noncurrent assets)⁴	115,100)	115,200)	121,400)	174,500)	192,700)	69,000)
After Adjustment
Adjusted total assets	25,077,300)	19,140,439)	19,292,616)	18,534,595)	18,158,876)	17,713,361)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² LIFO reserve. See details »

³ Current deferred tax assets (included in Other receivables and current assets). See details »

⁴ Noncurrent deferred tax assets (included in Other noncurrent assets). See details »

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Air Products & Chemicals Inc., adjusted current liabilities

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Current liabilities	2,416,700)	1,820,900)	2,338,300)	2,489,000)	3,283,300)	3,648,100)
Adjustments
Less: Current deferred tax liabilities (included in Payables and accrued liabilities)¹	—)	—)	—)	—)	—)	3,600)
After Adjustment
Adjusted current liabilities	2,416,700)	1,820,900)	2,338,300)	2,489,000)	3,283,300)	3,644,500)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ Current deferred tax liabilities (included in Payables and accrued liabilities). See details »

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Air Products & Chemicals Inc., adjusted total liabilities

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Total liabilities	12,725,400)	7,554,500)	8,002,000)	8,281,700)	10,841,900)	10,057,000)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	264,039)	211,716)	172,795)	194,476)	334,361)
Less: Current deferred tax liabilities (included in Payables and accrued liabilities)²	—)	—)	—)	—)	—)	3,600)
Less: Noncurrent deferred tax liabilities³	962,600)	793,800)	775,100)	778,400)	767,100)	903,300)
Less: Accrual for cost reduction actions	4,700)	17,800)	9,900)	41,500)	16,300)	41,700)
After Adjustment
Adjusted total liabilities	11,758,100)	7,006,939)	7,428,716)	7,634,595)	10,252,976)	9,442,761)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current deferred tax liabilities (included in Payables and accrued liabilities). See details »

³ Noncurrent deferred tax liabilities. See details »

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Air Products & Chemicals Inc., adjusted total Air Products shareholders’ equity

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Total Air Products shareholders’ equity	12,079,800)	11,053,600)	10,857,500)	10,086,200)	7,079,600)	7,249,000)
Adjustments
Less: Net deferred income tax asset (liability)¹	(847,500)	(678,600)	(653,700)	(603,900)	(574,400)	(720,700)
Add: Allowance for doubtful accounts	23,900)	48,800)	24,000)	45,800)	22,800)	26,300)
Add: LIFO reserve²	—)	—)	—)	23,300)	79,000)	100,800)
Add: Accrual for cost reduction actions	4,700)	17,800)	9,900)	41,500)	16,300)	41,700)
Add: Noncontrolling interests	363,300)	334,700)	318,800)	99,300)	133,800)	132,100)
After Adjustment
Adjusted total equity	13,319,200)	12,133,500)	11,863,900)	10,900,000)	7,905,900)	8,270,600)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ Net deferred income tax asset (liability). See details »

² LIFO reserve. See details »

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Air Products & Chemicals Inc., adjusted capitalization table

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Short-term borrowings	7,700)	58,200)	54,300)	144,000)	935,800)	1,494,300)
Current portion of long-term debt	470,000)	40,400)	406,600)	416,400)	371,300)	435,600)
Long-term debt, excluding current portion	7,132,900)	2,907,300)	2,967,400)	3,402,400)	4,918,100)	3,949,100)
Long-term debt, related party	297,200)	320,100)	384,300)	—)	—)	—)
Total reported debt	7,907,800)	3,326,000)	3,812,600)	3,962,800)	6,225,200)	5,879,000)
Total Air Products shareholders’ equity	12,079,800)	11,053,600)	10,857,500)	10,086,200)	7,079,600)	7,249,000)
Total reported capital	19,987,600)	14,379,600)	14,670,100)	14,049,000)	13,304,800)	13,128,000)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	264,039)	211,716)	172,795)	194,476)	334,361)
Add: Current operating lease liabilities²	70,700)	—)	—)	—)	—)	—)
Add: Noncurrent operating lease liabilities³	335,800)	—)	—)	—)	—)	—)
Adjusted total debt	8,314,300)	3,590,039)	4,024,316)	4,135,595)	6,419,676)	6,213,361)
Adjustments to Equity
Less: Net deferred income tax asset (liability)⁴	(847,500)	(678,600)	(653,700)	(603,900)	(574,400)	(720,700)
Add: Allowance for doubtful accounts	23,900)	48,800)	24,000)	45,800)	22,800)	26,300)
Add: LIFO reserve⁵	—)	—)	—)	23,300)	79,000)	100,800)
Add: Accrual for cost reduction actions	4,700)	17,800)	9,900)	41,500)	16,300)	41,700)
Add: Noncontrolling interests	363,300)	334,700)	318,800)	99,300)	133,800)	132,100)
Adjusted total equity	13,319,200)	12,133,500)	11,863,900)	10,900,000)	7,905,900)	8,270,600)
After Adjustment
Adjusted total capital	21,633,500)	15,723,539)	15,888,216)	15,035,595)	14,325,576)	14,483,961)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Noncurrent operating lease liabilities. See details »

⁴ Net deferred income tax asset (liability). See details »

⁵ LIFO reserve. See details »

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Air Products & Chemicals Inc., adjusted net income attributable to Air Products

US$ in thousands

12 months ended:	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
As Reported
Net income attributable to Air Products	1,886,700)	1,760,000)	1,497,800)	3,000,400)	631,100)	1,277,900)
Adjustments
Add: Deferred income tax expense (benefit)¹	165,000)	57,600)	(55,400)	(38,000)	62,900)	2,900)
Add: Increase (decrease) in allowance for doubtful accounts	(900)	24,800)	(21,800)	24,000)	(3,500)	9,900)
Add: Increase (decrease) in LIFO reserve²	—)	—)	(23,300)	11,600)	(21,800)	(4,600)
Add: Increase (decrease) in accrual for cost reduction actions	(13,100)	17,800)	(31,600)	25,800)	(25,400)	21,100)
Less: Income (loss) from discontinued operations, net of tax	(14,300)	—)	42,200)	1,866,000)	(884,200)	—)
Add: Other comprehensive income (loss), net of tax	233,500)	(653,600)	86,500)	533,100)	(257,600)	(895,000)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	42,400)	29,500)	16,100)	24,500)	35,200)	28,700)
After Adjustment
Adjusted net income	2,327,900)	1,236,100)	1,426,100)	1,715,400)	1,305,100)	440,900)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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Air Products & Chemicals Inc. (NYSE:APD)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income