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Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Schedule of Change Retrospectively to Prior Periods Financial Statement Line Items

The Company applied this change retrospectively to all prior periods presented. This change resulted in a $19 million increase in retained earnings as of October 1, 2015, from $1,478 million to $1,497 million. In addition, the following financial statement line items in the Company’s Consolidated Statements of Operations for the years ended September 30, 2017 and 2016, its Consolidated Balance Sheets as of September 30, 2017 and 2016, and its Consolidated Statements of Cash Flows for the years ended September 30, 2017 and 2016 were adjusted:

Consolidated Statements of Operations

 

Years Ended September 30

 

 

 

2017

 

 

2016

 

 

 

As Originally Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

As Originally Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

 

(In millions, except per share amounts)

 

Cost of sales

 

$

2,065

 

 

$

(11

)

 

$

2,054

 

 

$

1,833

 

 

$

3

 

 

$

1,836

 

Income (loss) from continuing operations

   before income taxes and equity in

   earnings of affiliated companies

 

$

288

 

 

$

11

 

 

$

299

 

 

$

194

 

 

$

(3

)

 

$

191

 

(Provision) benefit for income taxes

 

$

(29

)

 

$

(4

)

 

$

(33

)

 

$

(34

)

 

$

1

 

 

$

(33

)

Net income (loss)

 

$

266

 

 

$

7

 

 

$

273

 

 

$

164

 

 

$

(2

)

 

$

162

 

Net income (loss) attributable to Cabot

   Corporation

 

$

241

 

 

$

7

 

 

$

248

 

 

$

149

 

 

$

(2

)

 

$

147

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

3.83

 

 

$

0.11

 

 

$

3.94

 

 

$

2.38

 

 

$

(0.04

)

 

$

2.34

 

Diluted

 

$

3.80

 

 

$

0.11

 

 

$

3.91

 

 

$

2.36

 

 

$

(0.04

)

 

$

2.32

 

 

Consolidated Balance Sheets

 

September 30, 2017

 

 

September 30, 2016

 

 

 

As Originally Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

As Originally Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

 

(In millions)

 

 

(In millions)

 

Inventories

 

$

396

 

 

$

37

 

 

$

433

 

 

$

342

 

 

$

26

 

 

$

368

 

Deferred income taxes (assets)

 

$

250

 

 

$

(13

)

 

$

237

 

 

$

216

 

 

$

(9

)

 

$

207

 

Retained earnings

 

$

1,683

 

 

$

24

 

 

$

1,707

 

 

$

1,544

 

 

$

17

 

 

$

1,561

 

 

Consolidated Statements of Cash Flows

 

Years Ended September 30

 

 

 

2017

 

 

2016

 

 

 

As Originally Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

As Originally Reported

 

 

Effect of Change

 

 

As Adjusted

 

 

 

(In millions)

 

Net income (loss)

 

$

266

 

 

$

7

 

 

$

273

 

 

$

164

 

 

$

(2

)

 

$

162

 

Deferred tax provision (benefit)

 

$

(35

)

 

$

4

 

 

$

(31

)

 

$

(35

)

 

$

(1

)

 

$

(36

)

Inventories

 

$

(50

)

 

$

(11

)

 

$

(61

)

 

$

51

 

 

$

3

 

 

$

54

 
Segment Reporting Revenue Percentage

The following table shows the relative size of the revenue recognized in each of the Company’s reportable segments:

 

 

 

Years Ended September 30

 

 

 

2018

 

 

2017

 

 

2016

 

Reinforcement Materials

 

 

57

%

 

 

53

%

 

 

48

%

Performance Chemicals

 

 

33

%

 

 

35

%

 

 

37

%

Purification Solutions

 

 

9

%

 

 

11

%

 

 

13

%

Specialty Fluids

 

 

1

%

 

 

1

%

 

 

2

%