Inventories

12 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are primarily carried at the lower of cost or net realizable value using the weighted average cost method. In addition, certain lubricants with a replacement cost of $107 million at September 30, 2019 and $89 million at September 30, 2018 are valued at the lower of cost or market using the LIFO method.

The following summarizes Valvoline’s inventories in the Consolidated Balance Sheets as of September 30:

(In millions)	2019		2018
Finished products	$	203	$	186
Raw materials, supplies and work in process	32		30
Reserve for LIFO cost valuation	(41)		(40)
Total inventories, net	$	194	$	176