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Employee Benefit Plans (Tables) | 12 Months Ended
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Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Costs of Retirement Plans | The following table summarizes the components of pension and other postretirement benefit costs for continuing operations and the assumptions used to determine net periodic benefit costs (income) for the plans.
|  | Pension benefits |  |  | Other postretirement benefits |
(In millions) |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Net periodic benefit costs (income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost (a) |  | $ | 6 |  |  | $ | 9 |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Interest cost (b) |  |  | 10 |  |  |  | 10 |  |  |  | 8 |  |  |  | 2 |  |  |  | 1 |  |  |  | 2 |
Curtailment, settlement and other (b) |  |  | (18 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Expected return on plan assets (b) |  |  | (10 | ) |  |  | (12 | ) |  |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of prior service credit (b) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Actuarial (gain) loss (b) |  |  | 18 |  |  |  | (14 | ) |  |  | 2 |  |  |  | (7 | ) |  |  | — |  |  |  | 6 |
|  | $ | 6 |  |  | $ | (7 | ) |  | $ | 6 |  |  | $ | (4 | ) |  | $ | 2 |  |  | $ | 9 |
Weighted-average plan assumptions (c) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate for service cost |  |  | 2.40 | % |  |  | 2.54 | % |  |  | 1.93 | % |  |  | 4.37 | % |  |  | 3.93 | % |  |  | 3.93 | %
Discount rate for interest cost |  |  | 3.02 | % |  |  | 2.55 | % |  |  | 2.25 | % |  |  | 3.91 | % |  |  | 3.13 | % |  |  | 2.86 | %
Rate of compensation increase |  |  | 2.52 | % |  |  | 2.53 | % |  |  | 2.81 | % |  |  |  |  |  |  |  |  |  |  |  |
Expected long-term rate of return on plan assets |  |  | 3.44 | % |  |  | 3.36 | % |  |  | 3.44 | % |  |  |  |  |  |  |  |  |  |  |  |
(a) | Service cost was not impacted by new accounting guidance adopted in 2018 and is therefore still classified within the selling, general and administrative expense and cost of sales captions on the Statements of Consolidated Comprehensive Income (Loss). See Note A for additional information.
(b) | These components are now classified within the other net periodic benefit income (costs) caption on the Statements of Consolidated Comprehensive Income (Loss) due to the adoption of new accounting guidance in 2018. See Note A for additional information.
(c) | The plan assumptions discussed are a blended weighted-average rate for Ashland’s U.S. and non-U.S. plans.
Total Prior Service Credits Recognized In Accumulated Other Comprehensive Income | At September 30, 2019 and 2018, the amounts included in accumulated other comprehensive income are shown in the following table.
|  | Pension |  |  | Postretirement |
(In millions) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Prior service credit |  | $ | 3 |  |  | $ | (4 | ) |  | $ | — |  |  | $ | — |
Schedule of Defined Benefit Plans Disclosures | Actuarial valuations are performed for the pension and other postretirement benefit plans to determine Ashland’s obligation for each plan. In accordance with U.S. GAAP, Ashland recognizes the unfunded status of the plans as a liability in the Consolidated Balance Sheets. Summaries of the change in benefit obligations, plan assets, funded status of the plans, amounts recognized in the balance sheet, and assumptions used to determine the benefit obligations for 2019 and 2018 are as follows.
|  |  |  |  |  |  |  |  |  | Other postretirement |
|  | Pension plans |  |  | benefit plans |
(In millions) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Change in benefit obligations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligations at October 1 |  | $ | 404 |  |  | $ | 428 |  |  | $ | 58 |  |  | $ | 62 |
Service cost |  |  | 5 |  |  |  | 8 |  |  |  | 1 |  |  |  | 1 |
Interest cost |  |  | 10 |  |  |  | 10 |  |  |  | 2 |  |  |  | 1 |
Participant contributions |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (16 | ) |  |  | (14 | ) |  |  | (2 | ) |  |  | (6 | )
Actuarial (gain) loss |  |  | 65 |  |  |  | (14 | ) |  |  | (7 | ) |  |  | — |
Curtailments |  |  | (18 | ) |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange rate changes |  |  | (18 | ) |  |  | (6 | ) |  |  | — |  |  |  | — |
Other |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |
Settlements |  |  | (27 | ) |  |  | (8 | ) |  |  | — |  |  |  | — |
Benefit obligations at September 30 |  | $ | 405 |  |  | $ | 404 |  |  | $ | 52 |  |  | $ | 58 |
Change in plan assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Value of plan assets at October 1 |  | $ | 341 |  |  | $ | 349 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  |  | 50 |  |  |  | 10 |  |  |  | — |  |  |  | — |
Employer contributions |  |  | 5 |  |  |  | 9 |  |  |  | — |  |  |  | — |
Participant contributions |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (16 | ) |  |  | (14 | ) |  |  | — |  |  |  | — |
Foreign currency exchange rate changes |  |  | (15 | ) |  |  | (6 | ) |  |  | — |  |  |  | — |
Settlements |  |  | (27 | ) |  |  | (8 | ) |  |  | — |  |  |  | — |
Other |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |
Value of plan assets at September 30 |  | $ | 337 |  |  | $ | 341 |  |  | $ | — |  |  | $ | — |
Unfunded status of the plans |  | $ | (68 | ) |  | $ | (63 | ) |  | $ | (52 | ) |  | $ | (58 | )
Amounts recognized in the balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncurrent benefit assets |  | $ | 33 |  |  | $ | 35 |  |  | $ | — |  |  | $ | — |
Current benefit liabilities |  |  | (3 | ) |  |  | (3 | ) |  |  | (3 | ) |  |  | (4 | )
Noncurrent benefit liabilities |  |  | (98 | ) |  |  | (95 | ) |  |  | (49 | ) |  |  | (54 | )
Net amount recognized |  | $ | (68 | ) |  | $ | (63 | ) |  | $ | (52 | ) |  | $ | (58 | )
Weighted-average plan assumptions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 1.96 | % |  |  | 2.97 | % |  |  | 3.11 | % |  |  | 4.24 | %
Rate of compensation increase |  |  | 2.52 | % |  |  | 2.53 | % |  |  |  |  |  |  |  |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The accumulated benefit obligation for all pension plans was $400 million at September 30, 2019 and $394 million at September 30, 2018. All Ashland pension plans are either qualified U.S. or non-US plans. Information for pension plans with an accumulated benefit obligation in excess of plan assets follows:
(In millions) |  | 2019 |  |  | 2018 |
Projected benefit obligation |  | $ | 207 |  |  | $ | 227 |
Accumulated benefit obligation |  |  | 202 |  |  |  | 217 |
Fair value of plan assets |  |  | 106 |  |  |  | 129 |
Schedule of Expected Benefit Payments | The following benefit payments, which reflect future service expectations, are projected to be paid from plan assets in each of the next five years and in aggregate for five years thereafter.
|  |  |  |  |  | Other |
|  | Pension |  |  | postretirement |
(In millions) |  | benefits |  |  | benefits |
2020 |  | $ | 18 |  |  | $ | 3 |
2021 |  |  | 18 |  |  |  | 3 |
2022 |  |  | 18 |  |  |  | 3 |
2023 |  |  | 19 |  |  |  | 4 |
2024 |  |  | 19 |  |  |  | 4 |
2025 - 2029 |  |  | 99 |  |  |  | 18 |
Plan Asset Fair Value Heirarchy [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table summarizes the various investment categories that the pension plan assets are invested in and the applicable fair value hierarchy that the financial instruments are classified within these investment categories as of September 30, 2019. For additional information and a detailed description of each level within the fair value hierarchy, see Note G.
|  |  |  |  |  | Quoted prices |  |  |  |  |  |  |  |  |
|  |  |  |  |  | in active |  |  | Significant |  |  |  |  |
|  |  |  |  |  | markets for |  |  | other |  |  | Significant |
|  |  |  |  |  | identical |  |  | observable |  |  | unobservable |
|  | Total fair |  |  | assets |  |  | inputs |  |  | inputs |
(In millions) |  | value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash and cash equivalents |  | $ | 5 |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |
U.S. Government securities |  |  | 29 |  |  |  | — |  |  |  | 29 |  |  |  | — |
Non-U.S. Government securities |  |  | 73 |  |  |  | — |  |  |  | 73 |  |  |  | — |
Corporate debt instruments |  |  | 145 |  |  |  | — |  |  |  | 145 |  |  |  | — |
Listed real assets |  |  | 11 |  |  |  | — |  |  |  | 11 |  |  |  | — |
Asset-backed securities |  |  | 22 |  |  |  | — |  |  |  | 22 |  |  |  | — |
Corporate stocks |  |  | 29 |  |  |  | — |  |  |  | 29 |  |  |  | — |
Insurance contracts |  |  | 23 |  |  |  | — |  |  |  | 23 |  |  |  | — |
Total assets at fair value |  | $ | 337 |  |  | $ | 5 |  |  | $ | 332 |  |  | $ | — |
The following table summarizes the various investment categories that the pension plan assets are invested in and the applicable fair value hierarchy that the financial instruments are classified within these investment categories as of September 30, 2018.
|  |  |  |  |  | Quoted prices |  |  |  |  |  |  |  |  |
|  |  |  |  |  | in active |  |  | Significant |  |  |  |  |
|  |  |  |  |  | markets for |  |  | other |  |  | Significant |
|  |  |  |  |  | identical |  |  | observable |  |  | unobservable |
|  | Total fair |  |  | assets |  |  | inputs |  |  | inputs |
(In millions) |  | value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash and cash equivalents |  | $ | 6 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |
U.S. Government securities |  |  | 19 |  |  |  | — |  |  |  | 19 |  |  | $ | — |
Non-U.S. Government securities |  |  | 56 |  |  |  | — |  |  |  | 56 |  |  |  | — |
Corporate debt instruments |  |  | 147 |  |  |  | — |  |  |  | 147 |  |  |  | — |
Listed real assets |  |  | 10 |  |  |  | — |  |  |  | 10 |  |  |  | — |
Asset-backed securities |  |  | 22 |  |  |  | — |  |  |  | 22 |  |  |  | — |
Corporate stocks |  |  | 31 |  |  |  | — |  |  |  | 31 |  |  |  | — |
Insurance contracts |  |  | 50 |  |  |  | — |  |  |  | 50 |  |  |  | — |
Total assets at fair value |  | $ | 341 |  |  | $ | 6 |  |  | $ | 335 |  |  | $ | — |
Plan Asset Allocation by Asset Type [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Allocation of Plan Assets | Ashland’s investment strategy and management practices relative to plan assets of non-U.S. plans generally are consistent with those for U.S. plans, except in those countries where investment of plan assets is dictated by applicable regulations. Although the investment allocation may vary based on funding percentages and whether plans are still accruing additional liabilities, the weighted-average asset allocations for Ashland’s U.S. and non-U.S. plans at September 30, 2019 and 2018 by asset category follow.
|  |  |  | Actual at September 30 |
(In millions) |  | Target |  | 2019 |  |  | 2018 |
Plan assets allocation |  |  |  |  |  |  |  |  |  |
Equity securities |  | 5 - 45% |  |  | 9 | % |  |  | 9 | %
Fixed income securities |  | 55 - 95% |  |  | 88 | % |  |  | 88 | %
Other |  | 0 - 5% |  |  | 3 | % |  |  | 3 | %
|  |  |  |  | 100 | % |  |  | 100 | %

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