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Significant Accounting Policies (Tables) | 12 Months Ended
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Sep. 30, 2019
Valuation and Qualifying Accounts Disclosure [Line Items] |
Summary of Inventories | The following summarizes Ashland’s inventories as of the Consolidated Balance Sheet dates.
(In millions) |  | 2019 |  |  | 2018 |
Finished products |  | $ | 395 |  |  | $ | 381 |
Raw materials, supplies and work in process |  |  | 197 |  |  |  | 215 |
LIFO benefit (reserve) |  |  | 5 |  |  |  | — |
|  | $ | 597 |  |  | $ | 596 |
Computation of Basic and Diluted Earnings per Share | The following is the computation of basic and diluted earnings per share (EPS) from continuing operations attributable to Ashland. Earnings per share are reported under the treasury stock method. Stock options and SARs for each reported year whose grant price was greater than the market price of Ashland Common Stock at the end of each fiscal year were not included in the computation of loss from continuing operations per diluted share because the effect of these instruments would be antidilutive. The total number of these shares outstanding was 1.0 million for 2019, 0.7 million for 2018 and 1.1 million for 2017.
(In millions except per share data) |  | 2019 |  |  | 2018 |  |  | 2017 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Numerator for basic and diluted EPS - |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations, net of tax |  | $ | 24 |  |  | $ | 19 |  |  | $ | (180 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic EPS - Weighted-average common shares outstanding |  |  | 62 |  |  |  | 63 |  |  |  | 62 |
Share based awards convertible to common shares (a) |  |  | 1 |  |  |  | 1 |  |  |  | — |
Denominator for diluted EPS - Adjusted weighted - average shares and assumed conversions |  |  | 63 |  |  |  | 64 |  |  |  | 62 |
EPS from continuing operations |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.39 |  |  | $ | 0.30 |  |  | $ | (2.90 | )
Diluted |  |  | 0.39 |  |  |  | 0.29 |  |  |  | (2.90 | )
(a) | As a result of the loss from continuing operations for 2017, the effect of the share-based awards convertible to common shares would be antidilutive. In accordance with U.S. GAAP, they have been excluded from the diluted EPS calculation.
Allowance for Doubtful Accounts [Member] |
Valuation and Qualifying Accounts Disclosure [Line Items] |
Schedule of Valuation and Qualifying Accounts Disclosure | A progression of activity in the allowance for doubtful accounts is presented in the following table.
(In millions) |  | 2019 |  |  | 2018 |  |  | 2017 |
Allowance for doubtful accounts - beginning of year |  | $ | 3 |  |  | $ | 3 |  |  | $ | 5 |
Adjustments to net income |  |  | — |  |  |  | 1 |  |  |  | (1 | )
Reserves utilized |  |  | — |  |  |  | (1 | ) |  |  | (1 | )
Other changes |  |  | — |  |  |  | — |  |  |  | — |
Allowance for doubtful accounts - end of year |  | $ | 3 |  |  | $ | 3 |  |  | $ | 3 |
Inventory Reserve [Member] |
Valuation and Qualifying Accounts Disclosure [Line Items] |
Schedule of Valuation and Qualifying Accounts Disclosure | A progression of activity in the inventory reserves, which reduce the amounts of finished products and raw materials, supplies and work in process reported, is presented in the following table.
(In millions) |  | 2019 |  |  | 2018 |  |  | 2017 |
Inventory reserves - beginning of year |  | $ | 23 |  |  | $ | 24 |  |  | $ | 29 |
Adjustments to net income |  |  | 3 |  |  |  | 4 |  |  |  | 2 |
Reserves utilized |  |  | (3 | ) |  |  | (5 | ) |  |  | (7 | )
Inventory reserves - end of year |  | $ | 23 |  |  | $ | 23 |  |  | $ | 24 |
Valuation Allowance of Deferred Tax Assets [Member] |
Valuation and Qualifying Accounts Disclosure [Line Items] |
Schedule of Valuation and Qualifying Accounts Disclosure | A progression of activity in the tax valuation allowances is presented in the following table.
(In millions) |  | 2019 |  |  | 2018 |  |  | 2017 |
Tax valuation allowances - beginning of year |  | $ | 79 |  |  | $ | 122 |  |  | $ | 136 |
Adjustments to income tax expense (benefit) |  |  | 8 |  |  |  | (5 | ) |  |  | 27 |
Reserves utilized |  |  | (4 | ) |  |  | (38 | ) |  |  | (41 | )
Tax valuation allowances - end of year |  | $ | 83 |  |  | $ | 79 |  |  | $ | 122 |

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