Discontinued Operations

6 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

NOTE C– DISCONTINUED OPERATIONS

Ashland has divested certain businesses that have qualified as discontinued operations. The operating results from these divested businesses and subsequent adjustments related to ongoing assessments of certain retained liabilities and tax items have been recorded within the discontinued operations caption in the Statements of Consolidated Comprehensive Income (Loss) for all periods presented.

Components of amounts reflected in the Statements of Consolidated Comprehensive Income (Loss) related to discontinued operations are presented in the following table for the three and six months ended March 31, 2023 and 2022.


	Three months ended						Six months ended
	March 31						March 31
(In millions)	2023			2022			2023			2022
Income (loss) from discontinued operations (net of tax)
Performance Adhesives	$	—		$	17		$	—		$	34
Composites/Marl facility		(1	)		—			(1	)		—
Distribution		—			(1	)		(1	)		(2	)
Gain on disposal of discontinued operations (net of tax)
Performance Adhesives		—			732			—			732
	$	(1	)	$	748		$	(2	)	$	764

The following table presents a reconciliation of the captions within Ashland's Statements of Consolidated Comprehensive Income (Loss) for the income (loss) from discontinued operations attributable to Performance Adhesives for the three and six months ended March 31, 2022. This disclosure was not applicable for the three and six months ended March 31, 2023 as a result of the sale in fiscal 2022.


	Three months ended			Six months ended
	March 31			March 31
(In millions)	2022			2022
Income (loss) from discontinued operations attributable to Performance Adhesives
Sales	$	75		$	171
Cost of sales		(56	)		(122	)
Selling, general and administrative expense		(6	)		(11	)
Research and development expense		(1	)		(3	)
Pretax income of discontinued operations		12			35
Income tax (expense) benefit		5			(1	)
Income from discontinued operations	$	17		$	34