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Employee Benefit Plans (Tables) | 12 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
Summary of the Components of Benefit Costs (Income) | The components of pension and other postretirement plans net periodic benefit costs (income) and the assumptions used in this determination are summarized below for the years ended September 30:
(In millions) |  | Pension benefits |  | Other postretirement benefits
| 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Net periodic benefit costs (income) |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 69.9 |  |  | $ | 83.4 |  |  | $ | 81.8 |  |  | $ | 1.0 |  |  | $ | 1.2 |  |  | $ | 1.2 |
Expected return on plan assets |  | (71.8) |  |  | (68.4) |  |  | (66.9) |  |  | — |  |  | — |  |  | — |
Amortization of prior service costs (credits) |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | (2.2) |  |  | (2.2) |  |  | (2.2) |
Actuarial loss (gain) |  | 26.2 |  |  | (5.1) |  |  | (35.0) |  |  | 0.4 |  |  | 2.7 |  |  | (6.6) |
Net periodic benefit costs (income) |  | $ | 24.4 |  |  | $ | 10.0 |  |  | $ | (20.0) |  |  | $ | (0.8) |  |  | $ | 1.7 |  |  | $ | (7.6) |
Weighted-average plan assumptions |  |  |  |  |  |  |  |  |  |
Discount rate for interest cost |  | 4.65 | % |  | 5.92 | % |  | 5.45 | % |  | 4.63 | % |  | 5.92 | % |  | 5.41 | %
Expected long-term rate of return on plan assets |  | 5.20 | % |  | 5.30 | % |  | 4.90 | % |  | N/A |  | N/A |  | N/A
Schedule of Amortization of Prior Service Cost (Credit) Recognized in AOCI | The following table summarizes the net periodic benefit costs (income) and the amortization of prior service credits recognized during the years ended September 30:
(In millions) |  | Pension benefits |  | Other postretirement benefits
| 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Amortization of prior service credits (costs) recognized in Accumulated other comprehensive income |  | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | 2.2 |  |  | $ | 2.2 |  |  | $ | 2.2 |
Net periodic benefit costs (income) |  | 24.4 |  |  | 10.0 |  |  | (20.0) |  |  | (0.8) |  |  | 1.7 |  |  | (7.6) |
Total pre-tax amount recognized in Comprehensive income |  | $ | 24.3 |  |  | $ | 9.9 |  |  | $ | (20.1) |  |  | $ | 1.4 |  |  | $ | 3.9 |  |  | $ | (5.4) |
Schedule of Changes in Projected Benefit Obligations | Changes in benefit obligations and the fair value of plan assets, as well as key assumptions used to determine the benefit obligations, and the amounts in the Consolidated Balance Sheets for the Company’s pension and other postretirement plans are summarized below as of September 30:
(In millions) |  | Pension benefits |  | Other postretirement benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Change in benefit obligations |  |  |  |  |  |  |  |
Benefit obligations as of October 1 |  | $ | 1,565.7 |  |  | $ | 1,478.1 |  |  | $ | 23.8 |  |  | $ | 22.3 |
Interest cost |  | 69.9 |  |  | 83.4 |  |  | 1.0 |  |  | 1.2 |
Benefits paid |  | (129.4) |  |  | (130.6) |  |  | (2.3) |  |  | (2.4) |
Actuarial (gain) loss |  | (11.9) |  |  | 140.0 |  |  | 0.4 |  |  | 2.7 |
Transfers in |  | 1.2 |  |  | 1.6 |  |  | — |  |  | — |
Settlements |  | (1.2) |  |  | (6.8) |  |  | — |  |  | — |
Benefit obligations as of September 30 |  | $ | 1,494.3 |  |  | $ | 1,565.7 |  |  | $ | 22.9 |  |  | $ | 23.8 |
Change in plan assets |  |  |  |  |  |  |  |
Fair value of plan assets as of October 1 |  | $ | 1,452.9 |  |  | $ | 1,361.0 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  | 33.7 |  |  | 213.5 |  |  | — |  |  | — |
Employer contributions |  | 8.3 |  |  | 14.2 |  |  | 2.3 |  |  | 2.4 |
Benefits paid |  | (129.4) |  |  | (130.6) |  |  | (2.3) |  |  | (2.4) |
Settlements |  | (1.2) |  |  | (6.8) |  |  | — |  |  | — |
Transfers in |  | 1.2 |  |  | 1.6 |  |  | — |  |  | — |
Fair value of plan assets as of September 30 |  | $ | 1,365.5 |  |  | $ | 1,452.9 |  |  | $ | — |  |  | $ | — |
Unfunded status of the plans as of September 30 |  | $ | 128.8 |  |  | $ | 112.8 |  |  | $ | 22.9 |  |  | $ | 23.8 |
(In millions) |  | Pension benefits |  | Other postretirement benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Amounts in the Consolidated Balance Sheets |  |  |  |  |  |
Noncurrent benefit assets (a) |  | $ | 44.9 |  |  | $ | 49.0 |  |  | $ | — |  |  | $ | — |
Current benefit liabilities (b) |  | 7.0 |  |  | 7.1 |  |  | 2.5 |  |  | 2.7 |
Noncurrent benefit liabilities (c) |  | 166.7 |  |  | 154.7 |  |  | 20.4 |  |  | 21.1 |
Total benefit liabilities |  | 173.7 |  |  | 161.8 |  |  | 22.9 |  |  | 23.8 |
Net liabilities recognized |  | $ | 128.8 |  |  | $ | 112.8 |  |  | $ | 22.9 |  |  | $ | 23.8 |
Balance in Accumulated other comprehensive loss |  |  |  |  |  |  |  |
Prior service cost (credit) |  | $ | 1.0 |  |  | $ | 1.1 |  |  | $ | (12.2) |  |  | $ | (14.4) |
Weighted-average plan assumptions |  |  |  |  |  |  |  |
Discount rate |  | 5.22 | % |  | 4.94 | % |  | 5.14 | % |  | 4.89 | %
Healthcare cost trend rate (d) |  | N/A |  | N/A |  | 6.9 | % |  | 7.2 | %
(a)Noncurrent benefit assets are recorded in Other noncurrent assets within the Consolidated Balance Sheets. (b)Current benefit liabilities are recorded in Accrued expenses and other liabilities within the Consolidated Balance Sheets. (c)Noncurrent benefit liabilities are recorded in Employee benefit obligations within the Consolidated Balance Sheets and also include $0.4 million as of September 30, 2025 and 2024 for liabilities associated with a long-term disability benefit plan sponsored by Valvoline. (d)The assumed pre-65 health care cost trend rate continues to be reduced to 4.0% in 2050 and thereafter.
Schedule of Pension Plans with a Benefit Obligation in Excess of Plan Assets | Pension plans with projected and accumulated benefit obligations in excess of the fair value of plan assets follows for the Company’s plans as of September 30:
(In millions) |  | 2025 |  | 2024
| Benefit obligation |  | Plan assets |  | Benefit obligation |  | Plan assets
Plans with projected and accumulated benefit obligations in excess of plan assets |  | $ | 1,074.4 |  |  | $ | 900.6 |  |  | $ | 1,146.0 |  |  | $ | 984.1 |
Schedule of Investment Categories for Pension Plan Assets | Pension plan asset investments and their level within the fair value hierarchy is summarized below as of:
(In millions) |  | September 30, 2025 |  |
| Total fair value |  | Level 1 |  | Level 2 |  | Level 3 |  | Assets measured at NAV |  |
Cash and cash equivalents |  | $ | 24.9 |  |  | $ | 24.9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
U.S. government securities and futures |  | 85.0 |  |  | — |  |  | 85.0 |  |  | — |  |  | — |  |  |
Other government securities |  | 41.3 |  |  | — |  |  | 41.3 |  |  | — |  |  | — |  |  |
Corporate debt instruments |  | 1,002.3 |  |  | — |  |  | 1,002.3 |  |  | — |  |  | — |  |  |
Private equity and hedge funds |  | 0.6 |  |  | — |  |  | — |  |  | — |  |  | 0.6 |  |  |
Collective trust funds |  | 200.8 |  |  | — |  |  | — |  |  | — |  |  | 200.8 |  |  |
Other investments |  | 10.6 |  |  | — |  |  | 10.6 |  |  | — |  |  | — |  |  |
Total assets at fair value |  | $ | 1,365.5 |  |  | $ | 24.9 |  |  | $ | 1,139.2 |  |  | $ | — |  |  | $ | 201.4 |  |  |
(In millions) |  | September 30, 2024
| Total fair value |  | Level 1 |  | Level 2 |  | Level 3 |  | Assets measured at NAV
Cash and cash equivalents |  | $ | 25.4 |  |  | $ | 25.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
U.S. government securities and futures |  | 49.6 |  |  | — |  |  | 49.6 |  |  | — |  |  | — |
Other government securities |  | 42.1 |  |  | — |  |  | 42.1 |  |  | — |  |  | — |
Corporate debt instruments |  | 1,108.4 |  |  | — |  |  | 1,108.4 |  |  | — |  |  | — |
Private equity and hedge funds |  | 1.2 |  |  | — |  |  | — |  |  | — |  |  | 1.2 |
Collective trust funds |  | 216.0 |  |  | — |  |  | — |  |  | — |  |  | 216.0 |
Other investments |  | 10.2 |  |  | — |  |  | 10.2 |  |  | — |  |  | — |
Total assets at fair value |  | $ | 1,452.9 |  |  | $ | 25.4 |  |  | $ | 1,210.3 |  |  | $ | — |  |  | $ | 217.2 |
Schedule of Investments Measured at Fair Value Using NAV Per Share | The following summarizes investments for which fair value is measured using the NAV per share practical expedient as of September 30, 2025:
(In millions) |  | Fair Value at NAV |  | Unfunded commitments |  | Redemption frequency (if currently eligible) |  | Redemption notice period
Relative value hedge funds |  | $ | 0.1 |  |  | $ | — |  |  | None (a) |  | None (a)
Event driven hedge funds |  | 0.3 |  |  | — |  |  | None (a) |  | None (a)
Collective trust funds |  | 200.8 |  |  | — |  |  | Daily |  | Up to 3 days
Private equity |  | 0.2 |  |  | 1.6 |  |  | None (a) |  | None (a)
Totals |  | $ | 201.4 |  |  | $ | 1.6 |  |  |  |  |
(a)These hedge funds and private equity instruments are in the process of liquidation and the timing is unknown.
Schedule of Weighted-Average Asset Allocations And Plan Asset Allocations | The weighted-average asset allocations for Valvoline’s plans by asset category follow as of September 30:
|  | Target |  | 2025 |  | 2024
Plan assets allocation |  |  |  |  |  |
Equity securities |  | 3-10% |  | 7 | % |  | 7 | %
Debt securities |  | 80-100% |  | 92 | % |  | 92 | %
Other |  | 0-10% |  | 1 | % |  | 1 | %
Total |  |  |  | 100 | % |  | 100 | %
Schedule of Expected Benefit Payments | The following benefit payments, which reflect future service expectations, are projected to be paid in each of the next five fiscal years ended September 30 and the five fiscal years thereafter in aggregate:
(In millions) |  | Pension benefits |  | Other postretirement benefits
2026 |  | $ | 137.7 |  |  | $ | 2.5 |
2027 |  | 135.7 |  |  | 2.3 |
2028 |  | 132.3 |  |  | 2.2 |
2029 |  | 130.7 |  |  | 2.1 |
2030 |  | 126.6 |  |  | 2.0 |
2028 - 2032 |  | 582.9 |  |  | 8.8 |
Total |  | $ | 1,245.9 |  |  | $ | 19.9 |

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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-5 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-4 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-2 + Details
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