Equity Items (Tables)

12 Months Ended

Sep. 30, 2019

Components of Accumulated Other Comprehensive Income (Loss)

Components of other comprehensive income (loss) recorded in the Statements of Consolidated Comprehensive Income (Loss) are presented in the following table, before tax and net of tax effects.

				Tax
	Before			(expense)			Net of
(In millions)	tax			benefit			tax
Year ended September 30, 2019
Other comprehensive income (loss)
Unrealized translation loss	$	(80	)	$	—		$	(80	)
Pension and postretirement obligation adjustment		(7	)		2			(5	)
Total other comprehensive loss	$	(87	)	$	2		$	(85	)

Year ended September 30, 2018
Other comprehensive income (loss)
Unrealized translation loss	$	(82	)	$	—		$	(82	)
Net change in investment securities:
Unrealized gain on investment securities (a)		24			(7	)		17
Reclassification adjustment for gains
included in net income		(6	)		2			(4	)
Total other comprehensive loss	$	(64	)	$	(5	)	$	(69	)

Year ended September 30, 2017
Other comprehensive income (loss)
Unrealized translation loss	$	80		$	1		$	81
Amortization of unrecognized prior service
credits included in net income		(7	)		3			(4	)
Net change in investment securities:
Unrealized gain on investment securities (a)		24			(8	)		16
Reclassification adjustment for gains
included in net income		(2	)		1			(1	)
Total other comprehensive income	$	95		$	(3	)	$	92

(a)	Due to the adoption of new accounting guidance in fiscal 2019, unrealized gains and losses on Ashland’s equity securities are now recognized in net income rather than other comprehensive income. See Notes A and G for more information.

Summary of Reconciliation of Changes in Stockholders' Equity

Summary of Stockholders’ Equity

A reconciliation of changes in stockholders’ equity are as follows:

(In millions)	2019			2018			2017
Common stock and paid in capital
Balance, beginning of period	$	947		$	932		$	924
Common shares issued under stock incentive and other plans (a)		10			15			8
Common shares purchased under repurchase program (b)		(200	)		—			—
Balance, end of period		757			947			932
Retained earnings
Balance, beginning of period		2,750			2,696			2,704
Adoption of new accounting pronouncements (c)		34			—			—
Net income		505			114			1
Regular dividends		(65	)		(60	)		(77	)
Distribution of Valvoline Inc. (d)		—			—			68
Balance, end of period		3,224			2,750			2,696
Accumulated other comprehensive income (loss)
Balance, beginning of period		(291	)		(222	)		(281	)
Adoption of new accounting pronouncements (c)		(34	)		—			—
Unrealized translation gain (loss)		(80	)		(82	)		81
Distribution of Valvoline Inc. (d)		—			—			(33	)
Net change in investment securities		—			13			15
Pension and postretirement obligation adjustment		(5	)		—			(4	)
Balance, end of period		(410	)		(291	)		(222	)
Noncontrolling interest
Balance, beginning of period		—			—			(182	)
Net income		—			—			27
Distribution of Valvoline Inc. (d)		—			—			152
Other		—			—			7
Distributions to noncontrolling interest		—			—			(4	)
Balance, end of period		—			—			—
Total stockholders' equity	$	3,571		$	3,406		$	3,406
Cash dividends declared per common share	$	1.05		$	0.95		$	1.23

(a)	Common shares issued were 336,188, 360,468 and 42,861 for 2019, 2018 and 2017, respectively.

(b)	Common shares repurchased were 2,637,054 for 2019.

(c)	Represents the cumulative-effect adjustment related to the adoption of the new guidance related to the accounting for equity securities and tax effects of intercompany transfers during fiscal 2019. See Note A for more information.

(d)	See Note B for discussion of the noncontrolling interest and the initial public offering and distribution of Valvoline Inc.