Earnings Per Share

9 Months Ended

Jun. 30, 2022

NOTE M – EARNINGS PER SHARE

The following is the computation of basic and diluted earnings per share (EPS) from continuing operations attributable to Ashland. Stock appreciation rights (SARs), stock options and warrants available to purchase shares outstanding for each reporting period whose grant price was greater than the average market price of Ashland Common Stock for each applicable period were not included in the computation of income from continuing operations per diluted share because the effect of these instruments would be antidilutive. The total number of these shares outstanding was approximately 1 million at June 30, 2022 and 2021, respectively. Earnings per share is reported under the treasury stock method.


	Three months ended				Nine months ended
	June 30				June 30
(In millions, except per share data)	2022		2021		2022		2021
Numerator
Numerator for basic and diluted EPS -
Income from continuing operations	$	51	$	72	$	121	$	139
Denominator
Denominator for basic EPS - Weighted- average common shares outstanding		54		61		56		61
Share based awards convertible to common shares		1		1		1		1
Denominator for diluted EPS - Adjusted weighted- average shares and assumed conversions		55		62		57		62
EPS from continuing operations
Basic	$	0.94	$	1.18	$	2.16	$	2.29
Diluted		0.93		1.17		2.12		2.27