The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets to the totals shown within the Condensed Consolidated Statements of Cash Flows:


(In millions)	December 31 2019		September 30 2019		December 31 2018
Cash and cash equivalents	$	162	$	159	$	99
Restricted cash^(a)	1		—		—
Total cash, cash equivalents and restricted cash	$	163	$	159	$	99

(a) Included in Prepaid expenses and other current assets within the Condensed Consolidated Balance Sheets.

The following table summarizes Valvoline’s accounts receivable in the Condensed Consolidated Balance Sheets:


(In millions)	December 31 2019		September 30 2019
Trade	$	389	$	392
Other	13		15
Accounts receivable, gross	402		407
Allowance for doubtful accounts	(7)		(6)
Total accounts receivable, net	$	395	$	401

During the three months ended December 31, 2019, Valvoline did not sell accounts receivable to a financial institution, while $28 million was sold during the three months ended December 31, 2018.

Inventories are primarily carried at the lower of cost or net realizable value using the weighted average cost method. In addition, certain lubricants are valued at the lower of cost or market using the last-in, first-out ("LIFO") method.

The following table summarizes Valvoline’s inventories in the Condensed Consolidated Balance Sheets:


(In millions)	December 31 2019		September 30 2019
Finished products	$	197	$	203
Raw materials, supplies and work in process	37		32
Reserve for LIFO cost valuation	(40)		(41)

Total inventories, net	$	194	$	194

The following table disaggregates the Company’s sales by timing of revenue recognized:


	Three months ended December 31
(In millions)	2019		2018
Sales at a point in time	$	596	$	547
Franchised revenues transferred over time	11		10
Total consolidated sales	$	607	$	557