Unaudited Quarterly Financial Information

12 Months Ended

Sep. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Information

Note V. Unaudited Quarterly Financial Information

Unaudited financial results by quarter for fiscal 2019 and 2018 are summarized below:

	Quarters Ended								Year Ended
	December 31,		March 31,		June 30,		September 30,		September 30,
	2018		2019		2019		2019		2019
	(In millions, except per share amounts)
Net sales and other operating revenues	$	821	$	844	$	845	$	827	$	3,337
Gross profit	$	166	$	178	$	170	$	171	$	685
Net income (loss)	$	77	$	29	$	40	$	40	$	186
Net income (loss) attributable to Cabot    Corporation	$	69	$	23	$	32	$	33	$	157
Earnings per common share—basic	$	1.14	$	0.39	$	0.55	$	0.56	$	2.64
Earnings per common share—diluted	$	1.14	$	0.39	$	0.55	$	0.55	$	2.63

During the fourth quarter of fiscal 2019, Cabot recorded a pre-tax charge of $20 million related to its respirator liabilities as discussed further in Note T.

	Quarters Ended										Year Ended
	December 31,			March 31,			June 30,		September 30,		September 30,
	2017			2018			2018		2018		2018
	(In millions, except per share amounts)
Net sales and other operating revenues	$	720		$	818		$	854	$	850	$	3,242
Gross profit	$	176		$	188		$	197	$	211	$	772
Net income (loss)	$	(112	)	$	(163	)	$	99	$	102	$	(74	)
Net income (loss) attributable to Cabot    Corporation	$	(122	)	$	(173	)	$	88	$	94	$	(113	)
Earnings per common share—basic	$	(1.98	)	$	(2.80	)	$	1.41	$	1.51	$	(1.85	)
Earnings per common share—diluted	$	(1.98	)	$	(2.80	)	$	1.40	$	1.51	$	(1.85	)

During the fourth quarter of fiscal 2018, Cabot recorded a pre-tax gain of $28 million on the sale of its land rights in Thane, India as discussed further in Note P. In addition, the tax benefit for the fourth quarter of fiscal 2018 includes a $19 million net benefit from discrete tax items primarily related to a revision of the estimate of the impact of the recent U.S. tax reform as discussed further in Note S.