Supplemental Balance Sheet Information (Tables)

12 Months Ended

Sep. 30, 2021

Supplemental Balance Sheet Information [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the totals shown within the Consolidated Statements of Cash Flows for the years ended September 30:

(In millions)	2021		2020		2019
Cash and cash equivalents	$	230	$	760	$	159
Restricted cash (a)	1		1		—
Total cash, cash equivalents and restricted cash	$	231	$	761	$	159

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

Summary of Accounts Receivable

Accounts and other receivables

The following summarizes Valvoline’s accounts and other receivables in the Consolidated Balance Sheets as of September 30:

(In millions)	2021		2020
Current
Trade	$	475	$	409
Other	16		14
Notes receivable from franchisees	10		13
Receivables, gross	501		436
Allowance for credit losses	(5)		(3)
Receivables, net	$	496	$	433
Non-current (a)
Notes receivable from franchisees	$	—	$	13
Other notes receivable	3		8
Noncurrent notes receivable, gross	3		21
Allowance for losses	(3)		(4)
Noncurrent notes receivable, net	$	—	$	17

(a)Included in Other noncurrent assets within the Consolidated Balance Sheets.

Inventories

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

(In millions)	2021		2020
Finished products	$	276	$	195
Raw materials, supplies and work in process	49		30
Reserve for LIFO cost valuation	(67)		(26)
Total inventories, net	$	258	$	199

Summary of Property, Plant and Equipment

(In millions)	2021		2020
Land	$	130	$	96
Buildings	607		412
Machinery and equipment	564		494
Construction in progress	71		101
Total property, plant and equipment	1,372		1,103
Accumulated depreciation	(555)		(490)
Net property, plant and equipment	$	817	$	613

(In millions)	2021		2020
Land	$	64	$	34
Buildings	134		43
Total finance lease assets	198		77
Accumulated depreciation	(21)		(10)
Net finance lease assets	$	177	$	67

(In millions)	2021		2020		2019
Depreciation (includes finance and capital leases)	$	76	$	56	$	52