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Financial Information by Segment & Geographic Area (Tables) | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Details of Segment EBIT and Other Financial Information by Reportable Segment | Details of Segment EBIT including segment revenue and significant segment expenses regularly reviewed by the CODM are as follows:
Years Ended September 30 |  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |
|  | (In millions) |
2025 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 2,341 |  |  | $ | 1,250 |  |  | $ | 3,591 |
Segment cost of sales(1) |  |  | (1,704 | ) |  |  | (921 | ) |  |  | (2,625 | )
Segment operating expenses(1)(2) |  |  | (132 | ) |  |  | (139 | ) |  |  | (271 | )
Other Segment Items(3) |  |  | 3 |  |  |  | 4 |  |  |  | 7 |
Segment EBIT |  | $ | 508 |  |  | $ | 194 |  |  | $ | 702 |
2024 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 2,610 |  |  | $ | 1,250 |  |  | $ | 3,860 |
Segment cost of sales(1) |  |  | (1,927 | ) |  |  | (947 | ) |  |  | (2,874 | )
Segment operating expenses(1)(2) |  |  | (148 | ) |  |  | (143 | ) |  |  | (291 | )
Other Segment Items(3) |  |  | 2 |  |  |  | 4 |  |  |  | 6 |
Segment EBIT |  | $ | 537 |  |  | $ | 164 |  |  | $ | 701 |
2023 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 2,563 |  |  | $ | 1,225 |  |  | $ | 3,788 |
Segment cost of sales(1) |  |  | (1,959 | ) |  |  | (974 | ) |  |  | (2,933 | )
Segment operating expenses(1)(2) |  |  | (124 | ) |  |  | (129 | ) |  |  | (253 | )
Other Segment Items(3) |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
Segment EBIT |  | $ | 482 |  |  | $ | 125 |  |  | $ | 607 |
(1) Segment cost of sales and Segment operating expenses exclude the items described in the reconciliation of segment earnings before interest and income taxes to Income (loss) from operations before income taxes and equity in earnings of affiliated companies. (2) Segment operating expenses include Selling and administrative expenses and Research and technical expenses. (3) Other segment items include Equity in earnings of affiliated companies, net of tax. Reconciliation of Segment earnings before interest and income taxes to Income (loss) from operations before income taxes and equity in earnings of affiliated companies is as follows:
|  | Years Ended September 30 |
|  | (In millions) |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Segment EBIT |  | $ | 702 |  |  | $ | 701 |  |  | $ | 607 |
Interest Expense |  |  | (76 | ) |  |  | (81 | ) |  |  | (90 | )
Certain items (1) |  |  | (30 | ) |  |  | (59 | ) |  |  | (29 | )
Unallocated corporate costs (2) |  |  | (52 | ) |  |  | (68 | ) |  |  | (54 | )
General unallocated income (expense) (3) |  |  | 28 |  |  |  | 42 |  |  |  | 22 |
Less: Equity in earnings of affiliated companies, net of tax(4) |  |  | 7 |  |  |  | 6 |  |  |  | 5 |
Income (loss) from operations before income taxes and equity in earnings of affiliated companies |  | $ | 565 |  |  | $ | 529 |  |  | $ | 451 |
(1) Certain items are items of expense and income that management does not consider representative of the Company’s fundamental on-going segment results and they are, therefore, excluded from Segment EBIT. Details of the certain items for fiscal 2025, 2024, and 2023 are as follows:
|  | Years Ended September 30 |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (In millions) |
Global restructuring activities (Note N) |  | $ | (11 | ) |  | $ | (13 | ) |  | $ | (4 | )
Indirect tax settlement charges (Note S) |  |  | (7 | ) |  |  | — |  |  |  | — |
Legal and environmental matters and reserves |  |  | (7 | ) |  |  | (2 | ) |  |  | (10 | )
Employee benefit plan settlement and other charges (Note L) |  |  | (3 | ) |  |  | — |  |  |  | — |
Acquisition and integration-related charges |  |  | (1 | ) |  |  | — |  |  |  | (4 | )
Argentina controlled currency devaluation and other losses (Note A) |  |  | — |  |  |  | (43 | ) |  |  | (7 | )
Loss on sale of business |  |  | — |  |  |  | — |  |  |  | (3 | )
Other certain items |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Total certain items |  | $ | (30 | ) |  | $ | (59 | ) |  | $ | (29 | )
(2) Unallocated corporate costs are not controlled by the segments and primarily benefit corporate interests. (3) General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, interest and dividend income, the profit or loss related to the corporate adjustment for unearned revenue, and unrealized holding gains (losses) for investments. This does not include items of income or expense that are separately treated as Certain items. (4) Equity in earnings of affiliated companies, net of tax is included in Segment EBIT and is removed to reconcile to Income (loss) from operations before taxes and equity in earnings of affiliated companies. Other Financial information by reportable segment is as follows:
Years Ended September 30 |  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |  |  | Unallocated and Other(1) |  |  | Consolidated Total |
|  | (In millions) |
2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(2) |  | $ | 2,341 |  |  | $ | 1,250 |  |  | $ | 3,591 |  |  | $ | 122 |  |  | $ | 3,713 |
Depreciation and amortization |  | $ | 70 |  |  | $ | 84 |  |  | $ | 154 |  |  | $ | — |  |  | $ | 154 |
Equity in earnings of affiliated companies, net of tax |  | $ | 3 |  |  | $ | 4 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |
Assets(3) |  | $ | 1,822 |  |  | $ | 1,500 |  |  | $ | 3,322 |  |  | $ | 493 |  |  | $ | 3,815 |
Total expenditures for additions to long-lived assets(4) |  | $ | 209 |  |  | $ | 91 |  |  | $ | 300 |  |  | $ | 3 |  |  | $ | 303 |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(2) |  | $ | 2,610 |  |  | $ | 1,250 |  |  | $ | 3,860 |  |  | $ | 134 |  |  | $ | 3,994 |
Depreciation and amortization |  | $ | 66 |  |  | $ | 78 |  |  | $ | 144 |  |  | $ | 7 |  |  | $ | 151 |
Equity in earnings of affiliated companies, net of tax |  | $ | 2 |  |  | $ | 4 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Assets(3) |  | $ | 1,751 |  |  | $ | 1,494 |  |  | $ | 3,245 |  |  | $ | 491 |  |  | $ | 3,736 |
Total expenditures for additions to long-lived assets(4) |  | $ | 165 |  |  | $ | 76 |  |  | $ | 241 |  |  | $ | 8 |  |  | $ | 249 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(2) |  | $ | 2,563 |  |  | $ | 1,225 |  |  | $ | 3,788 |  |  | $ | 143 |  |  | $ | 3,931 |
Depreciation and amortization |  | $ | 70 |  |  | $ | 72 |  |  | $ | 142 |  |  | $ | 2 |  |  | $ | 144 |
Equity in earnings of affiliated companies, net of tax |  | $ | 2 |  |  | $ | 3 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |
Assets(3) |  | $ | 1,632 |  |  | $ | 1,473 |  |  | $ | 3,105 |  |  | $ | 499 |  |  | $ | 3,604 |
Total expenditures for additions to long-lived assets(4) |  | $ | 149 |  |  | $ | 108 |  |  | $ | 257 |  |  | $ | 8 |  |  | $ | 265 |
(1) Unallocated and Other includes certain items and eliminations necessary to reflect management’s reporting of operating segment results. (2) Consolidated Total Revenues from external customers reconciles to Net sales and other operating revenues on the Consolidated Statements of Operations. Revenues from external customers that are categorized as Unallocated and Other are summarized as follows:
|  | Years Ended September 30 |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (In millions) |
Shipping and handling fees |  | $ | 112 |  |  | $ | 123 |  |  | $ | 132 |
Other |  |  | 10 |  |  |  | 11 |  |  |  | 11 |
Total |  | $ | 122 |  |  | $ | 134 |  |  | $ | 143 |
(3) Unallocated and Other assets include cash, marketable securities, cost investments, income taxes receivable, deferred taxes, and headquarters’ assets. (4) Expenditures for additions to long-lived assets include property, plant and equipment and intangible assets.
Revenue from External Customers and Property, Plant and Equipment Information by Geographic Area | Revenues from external customers attributable to an individual country, other than the U.S. and China, were not material for disclosure. Revenues from external customers by individual country are summarized as follows:
|  | Years Ended September 30 |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (In millions) |
United States |  | $ | 670 |  |  | $ | 733 |  |  | $ | 738 |
China |  |  | 931 |  |  |  | 983 |  |  |  | 972 |
Other countries |  |  | 2,112 |  |  |  | 2,278 |  |  |  | 2,221 |
Total |  | $ | 3,713 |  |  | $ | 3,994 |  |  | $ | 3,931 |
Property, plant and equipment, net of accumulated depreciation, attributable to an individual country, other than the U.S. and China, were not material for disclosure. Property, plant and equipment is attributed to an individual country based on asset location and is summarized as follows:
|  | Years Ended September 30 |
|  | 2025 |  |  | 2024 |
|  | (In millions) |
United States |  | $ | 748 |  |  | $ | 643 |
China |  |  | 360 |  |  |  | 371 |
Other countries |  |  | 603 |  |  |  | 520 |
Total |  | $ | 1,711 |  |  | $ | 1,534 |
Revenues from External Customers by Geographic Region | Each of the Company’s segments operates globally. Revenues from external customers are attributed to geographic region based on customer location. In addition to presenting Revenue from external customers by reportable segment, the following tables further disaggregate Revenue from external customers by geographic region.
|  | Year Ended September 30, 2025 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 944 |  |  | $ | 373 |  |  | $ | 1,317 |
Asia Pacific |  |  | 865 |  |  |  | 536 |  |  |  | 1,401 |
Europe, Middle East and Africa |  |  | 532 |  |  |  | 341 |  |  |  | 873 |
Segment revenues from external customers |  |  | 2,341 |  |  |  | 1,250 |  |  |  | 3,591 |
Unallocated and other |  |  |  |  |  |  |  |  | 122 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 3,713 |
|  | Year Ended September 30, 2024 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 1,056 |  |  | $ | 378 |  |  | $ | 1,434 |
Asia Pacific |  |  | 1,015 |  |  |  | 506 |  |  |  | 1,521 |
Europe, Middle East and Africa |  |  | 539 |  |  |  | 366 |  |  |  | 905 |
Segment revenues from external customers |  |  | 2,610 |  |  |  | 1,250 |  |  |  | 3,860 |
Unallocated and other |  |  |  |  |  |  |  |  | 134 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 3,994 |
|  | Year Ended September 30, 2023 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 1,046 |  |  | $ | 379 |  |  | $ | 1,425 |
Asia Pacific |  |  | 995 |  |  |  | 491 |  |  | $ | 1,486 |
Europe, Middle East and Africa |  |  | 522 |  |  |  | 355 |  |  |  | 877 |
Segment revenues from external customers |  |  | 2,563 |  |  |  | 1,225 |  |  | $ | 3,788 |
Unallocated and other |  |  |  |  |  |  |  |  | 143 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 3,931 |

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