Discontinued Operations (Tables)

6 Months Ended

Mar. 31, 2020

Components of Amounts in the Statements of Consolidated Income (Loss) Related To Discontinued Operations

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, 2020 and 2019.

	Three months ended					Six months ended
	March 31					March 31
(In millions)	2020			2019		2020			2019
Income (loss) from discontinued operations (net of tax)
Composites/Marl facility	$	4		$	28	$	4		$	53
Valvoline		—			1		(1	)		1
Asbestos		(7	)		—		(7	)		—
Water Technologies		—			2		(1	)		1
Distribution		(2	)		—		(2	)		(1	)
Gain (loss) on disposal of discontinued operations (net of    taxes)
Composites/Marl facility		(2	)		—		(2	)		—
	$	(7	)	$	31	$	(9	)	$	54

Composites/Marl facility [Member]

Components of Amounts in the Statements of Consolidated Income (Loss) Related To Discontinued Operations

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 Composites and the Marl facility for the three and six months ended March 31, 2020 and 2019. Interest expense was allocated to discontinued operations based on Ashland’s mandatory debt prepayments upon the disposition of Composites and the Marl facility for applicable periods only. Although the Maleic business was not sold to INEOS, this business was operated under the Composites business and Marl facility disposal group and will continue to be reported in discontinued operations as it meets the held for sale criteria.

	Three months ended						Six months ended
	March 31						March 31
(In millions)	2020			2019			2020			2019
Income (loss) from discontinued operations attributable    to Composites/Marl facility
Sales	$	17		$	284		$	28		$	559
Cost of sales		(10	)		(217	)		(19	)		(434	)
Selling, general and administrative expense		(2	)		(19	)		(4	)		(41	)
Research and development expense		—			(3	)		—			(6	)
Equity and other income		—			—			2			3
Pretax operating income of discontinued operations		5			45			7			81
Net interest and other financing expense		—			(6	)					(12	)
Pretax income of discontinued operations		5			39			7			69
Income tax expense		(1	)		(11	)		(3	)		(16	)
Income from discontinued operations	$	4		$	28		$	4		$	53