XML 36 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Discontinued Operations (Tables)
 3 Months Ended
Dec. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]  
Components of Consolidated Comprehensive Income (Loss) Related to Discontinued Operations

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 months ended December 31, 2018 and 2017.

 

Three months ended

 

 

December 31

 

(In millions)

2018

 

 

2017

 

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

 

 

 

 

 

 

 

Composites/Marl facility

$

25

 

 

$

25

 

Valvoline

 

—

 

 

 

3

 

Water Technologies

 

(1

)

 

 

—

 

Distribution

 

(1

)

 

 

—

 

 

$

23

 

 

$

28

 

The following table presents a reconciliation of the captions within Ashland's Statements of Consolidated Comprehensive Income (Loss) for the income (loss) from discontinued operations attributable to Composites and the Marl facility for the three months ended December 31, 2018 and 2017.  Interest expense was allocated to discontinued operations based on Ashland’s mandatory debt prepayments upon the disposition of Composites and the Marl facility.

 

Three months ended

 

 

December 31

 

(In millions)

2018

 

 

2017

 

Income (loss) from discontinued operations attributable

 

 

 

 

 

 

 

to Composites/Marl facility

 

 

 

 

 

 

 

Sales

$

275

 

 

$

261

 

Cost of sales

 

(217

)

 

 

(211

)

Selling, general and administrative expense

 

(22

)

 

 

(17

)

Research and development expense

 

(3

)

 

 

(2

)

Equity and other income

 

3

 

 

 

3

 

Pretax operating income of discontinued operations

 

36

 

 

 

34

 

Net interest and other financing expense

 

(6

)

 

 

(4

)

Pretax income of discontinued operations

 

30

 

 

 

30

 

Income tax expense

 

(5

)

 

 

(5

)

Income from discontinued operations

$

25

 

 

$

25