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Financial Information by Segment & Geographic Area (Tables)

12 Months Ended

Sep. 30, 2025

Details of Segment EBIT and Other Financial Information by Reportable Segment

Details of Segment EBIT including segment revenue and significant segment expenses regularly reviewed by the CODM are as follows:


Years Ended September 30	Reinforcement Materials			Performance Chemicals			Segment Total
	(In millions)
2025
Segment revenues from external customers	$	2,341		$	1,250		$	3,591
Segment cost of sales(1)		(1,704	)		(921	)		(2,625	)
Segment operating expenses(1)(2)		(132	)		(139	)		(271	)
Other Segment Items(3)		3			4			7
Segment EBIT	$	508		$	194		$	702
2024
Segment revenues from external customers	$	2,610		$	1,250		$	3,860
Segment cost of sales(1)		(1,927	)		(947	)		(2,874	)
Segment operating expenses(1)(2)		(148	)		(143	)		(291	)
Other Segment Items(3)		2			4			6
Segment EBIT	$	537		$	164		$	701
2023
Segment revenues from external customers	$	2,563		$	1,225		$	3,788
Segment cost of sales(1)		(1,959	)		(974	)		(2,933	)
Segment operating expenses(1)(2)		(124	)		(129	)		(253	)
Other Segment Items(3)		2			3			5
Segment EBIT	$	482		$	125		$	607

(1)

Segment cost of sales and Segment operating expenses exclude the items described in the reconciliation of segment earnings before interest and income taxes to Income (loss) from operations before income taxes and equity in earnings of affiliated companies.

(2)

Segment operating expenses include Selling and administrative expenses and Research and technical expenses.

(3)

Other segment items include Equity in earnings of affiliated companies, net of tax.

Reconciliation of Segment earnings before interest and income taxes to Income (loss) from operations before income taxes and equity in earnings of affiliated companies is as follows:


	Years Ended September 30
	(In millions)
	2025			2024			2023
Segment EBIT	$	702		$	701		$	607
Interest Expense		(76	)		(81	)		(90	)
Certain items (1)		(30	)		(59	)		(29	)
Unallocated corporate costs (2)		(52	)		(68	)		(54	)
General unallocated income (expense) (3)		28			42			22
Less: Equity in earnings of affiliated companies, net of tax(4)		7			6			5
Income (loss) from operations before income taxes and equity in earnings of affiliated companies	$	565		$	529		$	451

(1)

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.

Details of the certain items for fiscal 2025, 2024, and 2023 are as follows:


	Years Ended September 30
	2025			2024			2023
	(In millions)
Global restructuring activities (Note N)	$	(11	)	$	(13	)	$	(4	)
Indirect tax settlement charges (Note S)		(7	)		—			—
Legal and environmental matters and reserves		(7	)		(2	)		(10	)
Employee benefit plan settlement and other charges (Note L)		(3	)		—			—
Acquisition and integration-related charges		(1	)		—			(4	)
Argentina controlled currency devaluation and other losses (Note A)		—			(43	)		(7	)
Loss on sale of business		—			—			(3	)
Other certain items		(1	)		(1	)		(1	)
Total certain items	$	(30	)	$	(59	)	$	(29	)

(2)

Unallocated corporate costs are not controlled by the segments and primarily benefit corporate interests.

(3)

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.

(4)

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

Other Financial information by reportable segment is as follows:


Years Ended September 30	Reinforcement Materials		Performance Chemicals		Segment Total		Unallocated and Other(1)		Consolidated Total
	(In millions)
2025
Revenues from external customers(2)	$	2,341	$	1,250	$	3,591	$	122	$	3,713
Depreciation and amortization	$	70	$	84	$	154	$	—	$	154
Equity in earnings of affiliated companies, net of tax	$	3	$	4	$	7	$	—	$	7
Assets(3)	$	1,822	$	1,500	$	3,322	$	493	$	3,815
Total expenditures for additions to long-lived assets(4)	$	209	$	91	$	300	$	3	$	303
2024
Revenues from external customers(2)	$	2,610	$	1,250	$	3,860	$	134	$	3,994
Depreciation and amortization	$	66	$	78	$	144	$	7	$	151
Equity in earnings of affiliated companies, net of tax	$	2	$	4	$	6	$	—	$	6
Assets(3)	$	1,751	$	1,494	$	3,245	$	491	$	3,736
Total expenditures for additions to long-lived assets(4)	$	165	$	76	$	241	$	8	$	249
2023
Revenues from external customers(2)	$	2,563	$	1,225	$	3,788	$	143	$	3,931
Depreciation and amortization	$	70	$	72	$	142	$	2	$	144
Equity in earnings of affiliated companies, net of tax	$	2	$	3	$	5	$	—	$	5
Assets(3)	$	1,632	$	1,473	$	3,105	$	499	$	3,604
Total expenditures for additions to long-lived assets(4)	$	149	$	108	$	257	$	8	$	265

(1)

Unallocated and Other includes certain items and eliminations necessary to reflect management’s reporting of operating segment results.

(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 are summarized as follows:


	Years Ended September 30
	2025		2024		2023
	(In millions)
Shipping and handling fees	$	112	$	123	$	132
Other		10		11		11
Total	$	122	$	134	$	143

(3)

Unallocated and Other assets include cash, marketable securities, cost investments, income taxes receivable, deferred taxes, and headquarters’ assets.

(4)

Expenditures for additions to long-lived assets include property, plant and equipment and intangible assets.

Revenue from External Customers and Property, Plant and Equipment Information by Geographic Area

Revenues from external customers attributable to an individual country, other than the U.S. and China, were not material for disclosure. Revenues from external customers by individual country are summarized as follows:


	Years Ended September 30
	2025		2024		2023
	(In millions)
United States	$	670	$	733	$	738
China		931		983		972
Other countries		2,112		2,278		2,221
Total	$	3,713	$	3,994	$	3,931

Property, plant and equipment, net of accumulated depreciation, attributable to an individual country, other than the U.S. and China, were not material for disclosure. Property, plant and equipment is attributed to an individual country based on asset location and is summarized as follows:


	Years Ended September 30
	2025		2024
	(In millions)
United States	$	748	$	643
China		360		371
Other countries		603		520
Total	$	1,711	$	1,534

Revenues from External Customers by Geographic Region

Each of the Company’s segments operates globally. Revenues from external customers are attributed to geographic region based on customer location. In addition to presenting Revenue from external customers by reportable segment, the following tables further disaggregate Revenue from external customers by geographic region.


	Year Ended September 30, 2025
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	944	$	373	$	1,317
Asia Pacific		865		536		1,401
Europe, Middle East and Africa		532		341		873
Segment revenues from external customers		2,341		1,250		3,591
Unallocated and other						122
Net sales and other operating revenues					$	3,713


	Year Ended September 30, 2024
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	1,056	$	378	$	1,434
Asia Pacific		1,015		506		1,521
Europe, Middle East and Africa		539		366		905
Segment revenues from external customers		2,610		1,250		3,860
Unallocated and other						134
Net sales and other operating revenues					$	3,994


	Year Ended September 30, 2023
	Reinforcement Materials		Performance Chemicals		Consolidated Total
	(In millions)
Americas	$	1,046	$	379	$	1,425
Asia Pacific		995		491	$	1,486
Europe, Middle East and Africa		522		355		877
Segment revenues from external customers		2,563		1,225	$	3,788
Unallocated and other						143
Net sales and other operating revenues					$	3,931