Financial Information by Segment (Tables)

6 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Financial Information by Reportable Segment

Financial information by reportable segment is as follows:

	Reinforcement Materials		Performance Chemicals		Segment Total		Unallocated and Other(1)			Consolidated Total
	(In millions)
Three Months Ended March 31, 2024
Revenues from external customers(2)	$	676	$	311	$	987	$	32		$	1,019
Income (loss) before income taxes(3)	$	149	$	31	$	180	$	(38	)	$	142
Three Months Ended March 31, 2023
Revenues from external customers(2)	$	672	$	326	$	998	$	35		$	1,033
Income (loss) before income taxes(3)	$	122	$	28	$	150	$	(40	)	$	110
Six Months Ended March 31, 2024
Revenues from external customers(2)	$	1,317	$	596	$	1,913	$	64		$	1,977
Income (loss) before income taxes(3)	$	278	$	65	$	343	$	(107	)	$	236
Six Months Ended March 31, 2023
Revenues from external customers(2)	$	1,315	$	612	$	1,927	$	71		$	1,998
Income (loss) before income taxes(3)	$	216	$	57	$	273	$	(79	)	$	194

(1)Unallocated and Other includes certain items and eliminations necessary to reflect management’s reporting of operating segment results. These items are reflective of the segment reporting presented to the CODM.

(2)Consolidated Total Revenues from external customers reconciles to Net sales and other operating revenues on the Consolidated Statements of Operations. Revenues from external customers that are categorized as Unallocated and Other reflects external shipping and handling fees, royalties, the impact of unearned revenue, discounting charges for certain Notes receivable, and other by-product revenue. Details are provided in the table below:

	Three Months Ended March 31					Six Months Ended March 31
	2024		2023			2024		2023
	(In millions)
Shipping and handling fees	$	32	$	36		$	62	$	69
Other		—		(1	)		2		2
Total	$	32	$	35		$	64	$	71

(3)Consolidated Total Income (loss) before income taxes reconciles to Income (loss) before income taxes and equity in earnings of affiliated companies on the Consolidated Statements of Operations. Income (loss) before income taxes that are categorized as Unallocated and Other includes:

	Three Months Ended March 31						Six Months Ended March 31
	2024			2023			2024			2023
	(In millions)
Interest expense	$	(21	)	$	(23	)	$	(43	)	$	(45	)
Certain items(a)
Argentina controlled currency devaluation and other losses (Note B)		(8	)		—			(41	)		—
Global restructuring activities (Note H)		(3	)		—			(12	)		—
Legal and environmental matters and reserves		(1	)		(1	)		(1	)		(2	)
Gain on sale of land		—			—			—			1
Loss on sale of business		—			—			—			(3	)
Acquisition and integration-related charges		—			—			—			(1	)
Other		—			(1	)		—			(1	)
Total certain items		(12	)		(2	)		(54	)		(6	)
Unallocated corporate costs(b)		(18	)		(16	)		(35	)		(31	)
General unallocated income (expense)(c)		15			2			28			6
Less: Equity in earnings of affiliated companies, net    of tax(d)		2			1			3			3
Total	$	(38	)	$	(40	)	$	(107	)	$	(79	)

(a)Certain items are items of expense and income that management does not consider representative of the Company’s fundamental on-going segment results and they are, therefore, excluded from Segment EBIT.

(b)Unallocated corporate costs are costs that are not controlled by the segments and primarily benefit corporate interests.

(c)General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, Interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue and unrealized holding gains (losses) for investments. This does not include items of income or expense that are separately treated as Certain items.

(d)Equity in earnings of affiliated companies, net of tax, is included in Segment EBIT and is removed in Unallocated and other to reconcile to Income (loss) from operations before income taxes and equity in earnings from affiliated companies.

Revenues from External Customers by Geographic Region

The Company’s segments operate globally. In addition to presenting Revenue from external customers by reportable segment, the following tables further disaggregate Revenues from external customers by geographic region.

	Three Months Ended March 31, 2024
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	274	$	93	$	367
Asia Pacific		255		120	$	375
Europe, Middle East and Africa		147		98		245
Segment revenues from external customers		676		311		987
Unallocated and other						32
Net sales and other operating revenues					$	1,019

	Three Months Ended March 31, 2023
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	280	$	100	$	380
Asia Pacific		245		123		368
Europe, Middle East and Africa		147		103		250
Segment revenues from external customers		672		326		998
Unallocated and other						35
Net sales and other operating revenues					$	1,033

	Six Months Ended March 31, 2024
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	528	$	181	$	709
Asia Pacific		515		240		755
Europe, Middle East and Africa		274		175		449
Segment revenues from external customers		1,317		596		1,913
Unallocated and other						64
Net sales and other operating revenues					$	1,977

	Six Months Ended March 31, 2023
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	521	$	189	$	710
Asia Pacific		518		249		767
Europe, Middle East and Africa		276		174		450
Segment revenues from external customers		1,315		612		1,927
Unallocated and other						71
Net sales and other operating revenues					$	1,998