Supplemental Financial Information (Tables)

3 Months Ended

Dec. 31, 2022

Supplemental Financial Information [Abstract]

Schedule of Cash and Cash Equivalents

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

(In millions)	December 31 2022		September 30  2022		December 31 2021
Cash and cash equivalents - continuing operations	$	21.0	$	23.4	$	42.8
Cash and cash equivalents - discontinued operations (a)	70.5		59.0		108.9
Restricted cash - discontinued operations (a)	1.5		1.5		2.0
Total cash, cash equivalents and restricted cash	$	93.0	$	83.9	$	153.7

(a)Included in Current assets held for sale with the Condensed Consolidated Balance Sheets.

Summary of Accounts Receivable

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

(In millions)	December 31 2022		September 30  2022
Trade	$	56.4	$	56.2
Other	4.1		14.5
Receivables, gross	60.5		70.7
Allowance for credit losses	(3.6)		(4.6)
Receivables, net	$	56.9	$	66.1

Disaggregation of Sales by Timing of Revenue Recognized and Revenue by Category

Revenue recognition

The following disaggregates the Company’s net revenues by timing of revenue recognized:

	Three months ended
	December 31
(In millions)	2022		2021
Net revenues transferred at a point in time	$	317.2	$	273.7
Franchised revenues transferred over time	15.6		13.6
Net revenues	$	332.8	$	287.3

The following table summarizes net revenues by category:

	Three months ended
	December 31
(In millions)	2022		2021
Oil changes and related fees	$	247.2	$	211.5
Non-oil changes and related fees	69.8		58.3
Franchise fees and other (a)	15.8		17.5
Total	$	332.8	$	287.3

(a)Includes $0.2 million and $3.7 million of net revenues associated with suspended operations.