Supplemental Financial Information (Tables)

6 Months Ended

Mar. 31, 2020

Supplemental Financial Information [Abstract]

Schedule of Cash and Cash Equivalents

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)	March 31 2020		September 30 2019		March 31 2019
Cash and cash equivalents	$	774	$	159	$	114
Restricted cash (a)	1		—		11
Total cash, cash equivalents and restricted cash	$	775	$	159	$	125

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

Summary of Accounts Receivable

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

(In millions)	March 31 2020		September 30 2019
Trade	$	342	$	392
Other	16		15
Accounts receivable, gross	358		407
Allowance for doubtful accounts	(6)		(6)
Total accounts receivable, net	$	352	$	401

Summary of Inventory

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

(In millions)	March 31 2020		September 30 2019
Finished products	$	211	$	203
Raw materials, supplies and work in process	34		32
Reserve for LIFO cost valuation	(36)		(41)
Total inventories, net	$	209	$	194

Disaggregaton of Revenue by Timing of Revenue Table Text Block

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

	Three months ended				Six months ended
	March 31				March 31
(In millions)	2020		2019		2020		2019
Sales at a point in time	$	569	$	581	$	1,165	$	1,128
Franchised revenues transferred over time	9		10		20		20
Total consolidated sales	$	578	$	591	$	1,185	$	1,148