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Restructuring | 12 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Note O. Restructuring 2024 Reorganizations During the first quarter of fiscal 2024, the Company initiated restructuring activities in both its Reinforcement Materials segment (“RM Plan”) and its Performance Chemicals segment (“PC Plan”). Under the RM Plan, the Company closed its reinforcing carbons unit at the facility in Tianjin, China that the Company acquired from Tokai Carbon Group in February 2022, consolidating its reinforcing carbons operations and reducing ongoing operational costs. Under the PC Plan, the Company has temporarily idled its aerogel manufacturing plant in Frankfurt, Germany and reorganized certain positions within the Performance Chemicals segment to reduce operating costs. Although the Frankfurt facility is idled, the Company continues its efforts to commercialize aerogel for use in thermal insulation for electric vehicles. During fiscal 2024, the Company recorded charges of $13 million primarily for severance related costs and accelerated depreciation as part of these plans. The Company expects to record additional restructuring charges of $1 million related to these plans through fiscal 2025. Details of the 2024 Reorganization restructuring activities and the related reserves for fiscal 2024 are as follows:
|  | Severance and Employee Benefits |  |  | Accelerated Depreciations on Assets |  |  | Other |  |  | Total |
|  | (In millions) |
Reserve at September 30, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Charges |  |  | 5 |  |  |  | 6 |  |  |  | 2 |  |  |  | 13 |
Costs charged against assets |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | (6 | )
Cash paid |  |  | (5 | ) |  |  | — |  |  |  | (1 | ) |  |  | (6 | )
Reserve at September 30, 2024 |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |
Cabot’s restructuring reserves are reflected in Accounts payable and accrued liabilities on the Company’s Consolidated Balance Sheets. Cabot’s restructuring activities were recorded in the Consolidated Statements of Operations as follows:
|  | Years Ended September 30 |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In millions) |
Cost of sales |  | $ | 12 |  |  | $ | 4 |  |  | $ | 1 |
Selling and administrative expenses |  |  | 1 |  |  |  | — |  |  |  | 2 |
Total |  | $ | 13 |  |  | $ | 4 |  |  | $ | 3 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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