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Employee Benefit Plans (Tables)

12 Months Ended

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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