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Discontinued Operations
 12 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations DISCONTINUED OPERATIONS
The following table summarizes Income from discontinued operations, net of tax included in the Consolidated Statements of Comprehensive Income for the years ended September 30:

(In millions) 202220212020
Net revenues$2,695.2 $2,086.7 $1,728.8 
Cost of sales2,134.7 1,540.9 1,167.6 
Gross profit560.5 545.8 561.2 
Selling, general and administrative expenses304.3 294.7 264.2 
Legacy and separation-related expenses7.0 — — 
Equity and other income, net(33.4)(36.3)(27.7)
Operating income from discontinued operations282.6 287.4 324.7 
Net pension and other postretirement plan (income) expense(3.4)1.9 (3.9)
Net interest and other financing expenses4.6 2.5 1.1 
Income from discontinued operations before income taxes281.4 283.0 327.5 
Income tax (benefit) expense(33.5)62.8 80.5 
Net income from discontinued operations$314.9 $220.2 $247.0 

The products used in Valvoline’s service delivery are sourced from Global Products. Valvoline will continue this arrangement following the sale of Global Products through a long-term supply agreement whereby Valvoline will purchase substantially all lubricant and certain ancillary products for its stores from Global Products. Net revenues within the results of Global Products above include product sales to the Company's continuing operations which are considered to be effectively settled at the time of the transaction and have not been eliminated. These transactions total the following for the years ended September 30:

(In millions)202220212020
Net revenues$218.1 $143.1 $102.9 
Additionally, certain transition services are expected between the businesses following the close of the sale, which are not expected to be material to the consolidated financial statements.

A summary of the held for sale assets and liabilities included in the Consolidated Balance Sheets follows as of September 30:

(In millions)20222021
Current assets
Cash and cash equivalents$59.0 $107.4 
Receivables, net524.3 430.8 
Inventories, net290.1 230.2 
Prepaid expenses and other current assets35.0 26.1 
Current assets held for sale (a)
908.4 794.5 
Noncurrent assets
Property, plant and equipment, net257.4 257.1 
Goodwill and intangibles, net139.8 132.4 
Other noncurrent assets158.6 173.2 
Noncurrent assets held for sale (a)
555.8 562.7 
Total assets held for sale$1,464.2 $1,357.2 
Current liabilities
Trade and other payables$264.9 $206.8 
Accrued expenses and other liabilities166.9 169.1 
Current liabilities held for sale (a)
431.8 375.9 
Noncurrent liabilities
Long-term debt30.7 37.6 
Other noncurrent liabilities76.8 94.9 
Noncurrent liabilities held for sale (a)
107.5 132.5 
Total liabilities held for sale$539.3 $508.4 
(a)Assets and liabilities of Global Products are presented as current in the Consolidated Balance Sheet at September 30, 2022, as the Company expects to complete the disposition within one year.