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Insurance Recoveries
6 Months Ended
Mar. 31, 2022
Insurance Recovery [Abstract]  
Insurance Recoveries

H. Insurance Recoveries

Pepinster, Belgium

In July 2021, the Company’s Specialty Compounds manufacturing and research and development facility in Pepinster, Belgium experienced significant flooding. Full production was temporarily halted and has resumed in the second quarter of fiscal 2022. During fiscal 2021, the Company recorded expenses of $17 million for clean-up costs, inventory, and fixed asset impairments and simultaneously recognized a fully offsetting loss recovery from expected insurance proceeds.

For the three and six months ended March 31, 2022, the Company recorded additional expenses of $1 million and $6 million, respectively, for clean-up costs, inventory, and fixed asset impairments and simultaneously recognized a fully offsetting loss recovery from expected insurance proceeds as the Company expects insurance proceeds in excess of the total incurred costs and policy deductibles. The flood-related expenses and loss recoveries are both included within Cost of sales in the Consolidated Statements of Operations for the three and six months ended March 31, 2022.

During fiscal 2021, the Company received insurance proceeds of $8 million. For the three and six months ended March 31, 2022, the Company received additional insurance proceeds of $2 million and $7 million, respectively. In the six months ended March 31, 2022, this amount included $1 million in Cash provided by investing activities and $6 million in Cash provided by operating activities in the Consolidated Statements of Cash Flows. At March 31, 2022 and September 30, 2021, the receivable for insurance recoveries was $8 million and $9 million, respectively, and is included in Accounts and notes receivable on the Consolidated Balance Sheet.