XML 39 R66.htm IDEA: XBRL DOCUMENT v3.20.1
Guarantor Financial Information - Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2020
Mar. 31, 2019
Net Income (Loss) Attributable to Parent [Abstract]            
Sales $ 578   $ 591   $ 1,185 $ 1,148
Cost of sales 371   388   767 762
Gross profit 207   203   418 386
Selling, general and administrative expenses 96   113   213 218
Net legacy and separation-related expenses (income) 0   3   (1) 3
Equity and other (income) expenses, net (6)   (9)   (15) (18)
Operating income 117   96   221 183
Net pension and other postretirement plan income (9)   (3)   (18) (5)
Net interest and other financing expenses 38   19   54 36
Income before income taxes 88   80   185 152
Income tax (benefit) expense 25   17   49 36
Equity in net income of subsidiaries 0   0   0 0
Net income 63 $ 73 63 $ 53 136 116
Comprehensive income 40   63   119 110
Eliminations            
Net Income (Loss) Attributable to Parent [Abstract]            
Sales (12)   (17)   (25) (32)
Cost of sales (12)   (17)   (25) (32)
Gross profit 0   0   0 0
Selling, general and administrative expenses 0   0   0 0
Net legacy and separation-related expenses (income)     0   0 0
Equity and other (income) expenses, net 0   0   0 0
Operating income 0   0   0 0
Net pension and other postretirement plan income 0   0   0 0
Net interest and other financing expenses 0   0   0 0
Income before income taxes 0   0   0 0
Income tax (benefit) expense 0   0   0 0
Equity in net income of subsidiaries 95   85   188 157
Net income (95)   (85)   (188) (157)
Comprehensive income (54)   (86)   (158) (148)
Valvoline Inc. (Parent Issuer) | Reportable Legal Entities            
Net Income (Loss) Attributable to Parent [Abstract]            
Sales 0   0   0 0
Cost of sales 0   0   0 0
Gross profit 0   0   0 0
Selling, general and administrative expenses (1)   2   3 5
Net legacy and separation-related expenses (income)     3   (1) 3
Equity and other (income) expenses, net 0   0   0 0
Operating income 1   (5)   (2) (8)
Net pension and other postretirement plan income 0   0   0 0
Net interest and other financing expenses 36   15   51 30
Income before income taxes (35)   (20)   (53) (38)
Income tax (benefit) expense (8)   (6)   (14) (11)
Equity in net income of subsidiaries (90)   (77)   (175) (143)
Net income 63   63   136 116
Comprehensive income 40   63   119 110
Guarantor Subsidiaries | Reportable Legal Entities            
Net Income (Loss) Attributable to Parent [Abstract]            
Sales 468   465   948 905
Cost of sales 297   300   606 593
Gross profit 171   165   342 312
Selling, general and administrative expenses 75   90   163 171
Net legacy and separation-related expenses (income)     0   0 0
Equity and other (income) expenses, net (13)   (14)   (26) (27)
Operating income 109   89   205 168
Net pension and other postretirement plan income (9)   (3)   (18) (5)
Net interest and other financing expenses 2   2   3 3
Income before income taxes 116   90   220 170
Income tax (benefit) expense 31   21   58 41
Equity in net income of subsidiaries (5)   (8)   (13) (14)
Net income 90   77   175 143
Comprehensive income 69   77   158 137
Non-Guarantor Subsidiaries | Reportable Legal Entities            
Net Income (Loss) Attributable to Parent [Abstract]            
Sales 122   143   262 275
Cost of sales 86   105   186 201
Gross profit 36   38   76 74
Selling, general and administrative expenses 22   21   47 42
Net legacy and separation-related expenses (income)     0   0 0
Equity and other (income) expenses, net 7   5   11 9
Operating income 7   12   18 23
Net pension and other postretirement plan income 0   0   0 0
Net interest and other financing expenses 0   2   0 3
Income before income taxes 7   10   18 20
Income tax (benefit) expense 2   2   5 6
Equity in net income of subsidiaries 0   0   0 0
Net income 5   8   13 14
Comprehensive income $ (15)   $ 9   $ 0 $ 11