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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 57 $ 143
Adjustments to reconcile net income to cash flows from operating activities    
Depreciation and amortization 25 18
Debt issuance cost and discount amortization 1 2
Deferred income taxes 65 0
Equity income from affiliates (9) (7)
Distributions from equity affiliates 5 3
Pension contributions (9) (10)
Gain on pension and other postretirement plan remeasurements 0 (8)
Gain on sale of assets (4) 0
Foreign currency exchange loss 1 0
Stock-based compensation expense 7 3
Change in assets and liabilities    
Accounts receivable (50) (42)
Inventories (16) (17)
Payables and accrued liabilities 2 (9)
Other assets and liabilities 33 (6)
Total cash provided by operating activities 108 70
Cash flows from investing activities    
Additions to property, plant and equipment (30) (27)
Acquisitions, net of cash acquired (67) (48)
Proceeds from sale of operations 5 0
Other investing activities, net 1 (1)
Total cash used in investing activities (91) (76)
Cash flows from financing activities    
Net transfers to Ashland 0 (2)
Proceeds from borrowings, net of issuance costs 95 75
Repayments on borrowings (15) (83)
Repurchases of common stock (123) 0
Purchase of additional ownership in subsidiary (15) 0
Cash dividends paid (30) (20)
Other financing activities (5) 0
Total cash used in financing activities (93) (30)
Effect of currency exchange rate changes on cash and cash equivalents 2 (1)
Decrease in cash and cash equivalents (74) (37)
Cash and cash equivalents - beginning of period 201 172
Cash and cash equivalents - end of period $ 127 $ 135