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Discontinued Operations (Tables)
 9 Months Ended
Jun. 30, 2018
Discontinued Operations And Disposal Groups [Abstract]  
Schedule of Disposal Groups Including Discontinued Operations, Income Statement and Balance Sheet Additional Disclosures

Components of amounts reflected in the Statements of Consolidated Comprehensive Income (Loss) related to discontinued operations are presented in the following table for the three and nine months ended June 30, 2018 and 2017.  

 

Three months ended

 

 

Nine months ended

 

 

June 30

 

 

June 30

 

(In millions)

2018

 

 

2017

 

 

2018

 

 

2017

 

Income (loss) from discontinued operations (net of tax)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valvoline

$

(7

)

 

$

12

 

 

$

1

 

 

$

161

 

Asbestos-related litigation

 

9

 

 

 

(25

)

 

 

12

 

 

 

(25

)

Distribution

 

(2

)

 

 

—

 

 

 

(3

)

 

 

—

 

Water Technologies

 

—

 

 

 

(1

)

 

 

(1

)

 

 

2

 

 

$

—

 

 

$

(14

)

 

$

9

 

 

$

138

 

 

The following table presents a reconciliation of the historically reported captions within Ashland's Statements of Consolidated Income (Loss) for the income from discontinued operations attributable to Valvoline for the three and nine months ended June 30, 2017.

 

Three

 

 

Nine

 

 

months ended

 

 

months ended

 

(In millions)

June 30, 2017

 

 

June 30, 2017

 

Income (loss) from discontinued operations attributable to Valvoline

 

 

 

 

 

 

 

Sales

$

234

 

 

$

1,237

 

Cost of sales

 

(148

)

 

 

(750

)

Selling, general and administrative expense

 

(50

)

 

 

(222

)

Research and development expense

 

(1

)

 

 

(8

)

Equity and other income

 

3

 

 

 

17

 

Pretax operating income of discontinued operations

 

38

 

 

 

274

 

Net interest and other financing expense

 

(5

)

 

 

(22

)

Pretax income of discontinued operations

 

33

 

 

 

252

 

Income tax expense

 

(21

)

 

 

(91

)

Income from discontinued operations

$

12

 

 

$

161