XML 69 R33.htm IDEA: XBRL DOCUMENT v3.25.3
Acquisitions and Dispositions (Tables)
12 Months Ended
Sep. 30, 2025
Business Combination [Abstract]  
Schedule of Aggregate Cash Consideration and Total Assets Acquired and Liabilities Assumed
The following table summarizes the aggregate cash consideration paid and the total assets acquired and liabilities assumed for the years ended September 30:

(In millions)202520242023
Cash$0.3 $— $— 
Inventories— 0.2 0.4 
Other current assets0.4 — — 
Property, plant and equipment (a)
6.4 5.0 6.4 
Operating lease assets13.5 23.2 9.7 
Goodwill (b)
55.4 44.3 29.0 
Intangible assets (c)
Reacquired franchise rights (d)
7.6 6.4 4.0 
Other0.8 0.5 0.3 
Other noncurrent assets— — — 
Trade and other payables(0.6)— — 
Other current liabilities(0.2)(0.1)(0.7)
Operating lease liabilities(13.5)(23.2)(9.1)
Other noncurrent liabilities (a)
(4.6)(3.0)(3.7)
Total net assets acquired$65.5 $53.3 $36.3 
Non-cash consideration(0.2)(0.6)— 
Total cash consideration transferred$65.3 $52.7 $36.3 
(a)Includes finance lease assets in Property, plant and equipment and finance lease liabilities in Other current and noncurrent liabilities. During the years ended September 30, 2025, 2024 and 2023, finance lease assets acquired were $3.4 million, $3.1 million and $3.8 million, respectively; finance lease liabilities in Other current liabilities were $0.2 million, $0.1 million and $0.2 million, respectively; and finance lease liabilities in Other noncurrent liabilities were $3.2 million, $3.0 million and $3.7 million, respectively.
(b)Goodwill is generally expected to be deductible for income tax purposes and is primarily attributed to the operational synergies and potential growth expected to result in economic benefits in the respective markets of the acquisitions.
(c)Weighted average amortization period of intangible assets acquired is ten years for fiscal 2025, seven years for fiscal 2024, and nine years for fiscal 2023.
(d)Prior to the acquisition of former franchise service center stores, Valvoline licensed the right to operate franchised service centers, including use of the Company’s trademarks and trade name. In connection with these acquisitions, Valvoline reacquired those rights and recognized separate definite-lived reacquired franchise rights intangible assets, which are being amortized on a straight-line basis over the weighted average remaining term of approximately ten years for fiscal 2025, seven years for fiscal 2024, and nine years for fiscal 2023. The effective settlement of these arrangements resulted in no settlement gain or loss as the contractual terms were at market.