XML 38 R31.htm IDEA: XBRL DOCUMENT
v3.26.1

Financial Information by Segment (Tables) | 9 Months Ended
--- | ---
Jun. 30, 2026
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:
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |
|  | (In millions) |
Three Months Ended June 30, 2026 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 599 |  |  | $ | 351 |  |  | $ | 950 |
Segment cost of sales(1) |  |  | (468 | ) |  |  | (248 | ) |  |  | (716 | )
Segment operating expenses(1)(2) |  |  | (35 | ) |  |  | (36 | ) |  |  | (71 | )
Other Segment Items(3) |  |  | 1 |  |  |  | 1 |  |  |  | 2 |
Segment EBIT |  | $ | 97 |  |  | $ | 68 |  |  | $ | 165 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |
|  | (In millions) |
Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 573 |  |  | $ | 320 |  |  | $ | 893 |
Segment cost of sales(1) |  |  | (415 | ) |  |  | (229 | ) |  |  | (644 | )
Segment operating expenses(1)(2) |  |  | (31 | ) |  |  | (34 | ) |  |  | (65 | )
Other Segment Items(3) |  |  | 1 |  |  |  | — |  |  |  | 1 |
Segment EBIT |  | $ | 128 |  |  | $ | 57 |  |  | $ | 185 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |
|  | (In millions) |
Nine Months Ended June 30, 2026 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 1,663 |  |  | $ | 979 |  |  | $ | 2,642 |
Segment cost of sales(1) |  |  | (1,271 | ) |  |  | (699 | ) |  |  | (1,970 | )
Segment operating expenses(1)(2) |  |  | (102 | ) |  |  | (108 | ) |  |  | (210 | )
Other Segment Items(3) |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
Segment EBIT |  | $ | 292 |  |  | $ | 175 |  |  | $ | 467 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |
|  | (In millions) |
Nine Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |
Segment revenues from external customers |  | $ | 1,778 |  |  | $ | 942 |  |  | $ | 2,720 |
Segment cost of sales(1) |  |  | (1,292 | ) |  |  | (689 | ) |  |  | (1,981 | )
Segment operating expenses(1)(2) |  |  | (99 | ) |  |  | (104 | ) |  |  | (203 | )
Other Segment Items(3) |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
Segment EBIT |  | $ | 389 |  |  | $ | 152 |  |  | $ | 541 |
(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:
|  | Three Months Ended June 30 |  |  | Nine Months Ended June 30 |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | (In millions) |
Segment EBIT |  | $ | 165 |  |  | $ | 185 |  |  | $ | 467 |  |  | $ | 541 |
Interest Expense |  |  | (18 | ) |  |  | (19 | ) |  |  | (54 | ) |  |  | (56 | )
Certain items (1) |  |  | (78 | ) |  |  | (3 | ) |  |  | (94 | ) |  |  | (13 | )
Unallocated corporate costs (2) |  |  | (14 | ) |  |  | (13 | ) |  |  | (41 | ) |  |  | (39 | )
General unallocated income (expense) (3) |  |  | 5 |  |  |  | 6 |  |  |  | 23 |  |  |  | 22 |
Less: Equity in earnings of affiliated companies, net of tax(4) |  |  | 2 |  |  |  | 1 |  |  |  | 5 |  |  |  | 5 |
Income (loss) from operations before income taxes and equity in earnings of affiliated companies |  | $ | 58 |  |  | $ | 155 |  |  | $ | 296 |  |  | $ | 450 |
(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 certain items for the three and nine months ended June 30, 2026 and 2025 are as follows:
|  | Three Months Ended June 30 |  |  | Nine Months Ended June 30 |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | (In millions) |  |  | (In millions) |
Global restructuring activities (Note I) |  | $ | (42 | ) |  | $ | (3 | ) |  | $ | (57 | ) |  | $ | (6 | )
Employee benefit plan settlement and other charges (Note E) |  |  | (30 | ) |  |  | — |  |  |  | (30 | ) |  |  | — |
Legal and environmental matters and reserves (Note F) |  |  | (5 | ) |  |  | — |  |  |  | (5 | ) |  |  | (6 | )
Acquisition and integration-related charges (Note C) |  |  | (1 | ) |  |  | — |  |  |  | (2 | ) |  |  | — |
Other certain items |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Total certain items |  | $ | (78 | ) |  | $ | (3 | ) |  | $ | (94 | ) |  | $ | (13 | )
(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. Financial information by reportable segment is as follows:
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Segment Total |  |  | Unallocated and Other |  |  | Consolidated Total |
|  | (In millions) |
Three Months Ended June 30, 2026 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(1) |  | $ | 599 |  |  | $ | 351 |  |  | $ | 950 |  |  | $ | 32 |  |  | $ | 982 |
Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(1) |  | $ | 573 |  |  | $ | 320 |  |  | $ | 893 |  |  | $ | 30 |  |  | $ | 923 |
Nine Months Ended June 30, 2026 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(2) |  | $ | 1,663 |  |  | $ | 979 |  |  | $ | 2,642 |  |  | $ | 93 |  |  | $ | 2,735 |
Nine Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers(2) |  | $ | 1,778 |  |  | $ | 942 |  |  | $ | 2,720 |  |  | $ | 94 |  |  | $ | 2,814 |
(1) 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:
|  | Three Months Ended June 30 |  |  | Nine Months Ended June 30 |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | (In millions) |
Shipping and handling fees |  | $ | 34 |  |  | $ | 28 |  |  | $ | 91 |  |  | $ | 85 |
Other |  |  | (2 | ) |  |  | 2 |  |  |  | 2 |  |  |  | 9 |
Total |  | $ | 32 |  |  | $ | 30 |  |  | $ | 93 |  |  | $ | 94 |
Revenues from External Customers by Geographic Region | The Company’s segments operate globally. In addition to presenting Revenue from external customers by reportable segment, the following tables further disaggregate Revenues from external customers by geographic region.
|  | Three Months Ended June 30, 2026 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 245 |  |  | $ | 106 |  |  | $ | 351 |
Asia Pacific |  |  | 219 |  |  |  | 153 |  |  |  | 372 |
Europe, Middle East and Africa |  |  | 135 |  |  |  | 92 |  |  |  | 227 |
Segment revenues from external customers |  |  | 599 |  |  |  | 351 |  |  |  | 950 |
Unallocated and other |  |  |  |  |  |  |  |  | 32 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 982 |
|  | Three Months Ended June 30, 2025 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 230 |  |  | $ | 98 |  |  | $ | 328 |
Asia Pacific |  |  | 199 |  |  |  | 132 |  |  |  | 331 |
Europe, Middle East and Africa |  |  | 144 |  |  |  | 90 |  |  |  | 234 |
Segment revenues from external customers |  |  | 573 |  |  |  | 320 |  |  |  | 893 |
Unallocated and other |  |  |  |  |  |  |  |  | 30 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 923 |
|  | Nine Months Ended June 30, 2026 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 661 |  |  | $ | 282 |  |  | $ | 943 |
Asia Pacific |  |  | 617 |  |  |  | 445 |  |  |  | 1,062 |
Europe, Middle East and Africa |  |  | 385 |  |  |  | 252 |  |  |  | 637 |
Segment revenues from external customers |  |  | 1,663 |  |  |  | 979 |  |  |  | 2,642 |
Unallocated and other |  |  |  |  |  |  |  |  | 93 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 2,735 |
|  | Nine Months Ended June 30, 2025 |
|  | Reinforcement Materials |  |  | Performance Chemicals |  |  | Consolidated Total |
|  | (In millions) |
Americas |  | $ | 714 |  |  | $ | 283 |  |  | $ | 997 |
Asia Pacific |  |  | 659 |  |  |  | 400 |  |  |  | 1,059 |
Europe, Middle East and Africa |  |  | 405 |  |  |  | 259 |  |  |  | 664 |
Segment revenues from external customers |  |  | 1,778 |  |  |  | 942 |  |  |  | 2,720 |
Unallocated and other |  |  |  |  |  |  |  |  | 94 |
Net sales and other operating revenues |  |  |  |  |  |  |  | $ | 2,814 |

X
- Definition Tabular disclosure of revenue attributed to country of domicile and foreign country from which revenue is derived if it is not provided as part of reportable segment information. Includes, but is not limited to, subtotal of geographical information about group of countries. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration