In previous periods, Ashland has divested certain businesses that have qualified as discontinued operations. The operating results from these divested businesses and subsequent adjustments related to ongoing assessments of certain retained liabilities and tax items have been recorded within the discontinued operations caption in the Statements of Consolidated Comprehensive Income (Loss) for all periods presented and are discussed further within this note.

As previously described in Note B, Ashland announced that it had signed a definitive agreement on November 15, 2018 to sell its Composites segment and Intermediates and Solvents Marl facility, including Maleic. Ashland determined that this expected divestiture qualified as a discontinued operation, in accordance with U.S. GAAP, since it represents a strategic shift for Ashland and had a major effect on Ashland's operations and financial results. Accordingly, the operating results and cash flows for Composites and the Marl facility have been classified as discontinued operations within the Condensed Consolidated Financial Statements for all periods presented.

Ashland completed the distribution of its remaining shares of common stock of Valvoline Inc. on May 12, 2017. Ashland determined that the Valvoline separation qualified as a discontinued operation, in accordance with U.S. GAAP, since it represented a strategic shift for Ashland and had a major effect on Ashland's operations and financial results. Ashland has made subsequent tax adjustments to the discontinued operations caption related to this transaction.

During the three and nine months ended June 30, 2019, a $28 million pre-tax gain was recorded upon the completion of a property sale directly relating to Ashland’s Distribution segment sold in 2011.

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 and nine months ended June 30, 2019 and 2018.

	Three months ended					Nine months ended
	June 30					June 30
(In millions)	2019		2018			2019		2018
Income (loss) from discontinued operations (net of tax)
Composites/Marl facility	$	24	$	25		$	77	$	74
Valvoline		—		(7	)		1		1
Asbestos-related litigation		—		9			—		12
Water Technologies		—		—			1		(1	)
Distribution		19		(2	)		18		(3	)
	$	43	$	25		$	97	$	83

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 and nine months ended June 30, 2019 and 2018. Interest expense was allocated to discontinued operations based on Ashland’s mandatory debt prepayments upon the disposition of Composites and the Marl facility, including Maleic.

	Three months ended						Nine months ended
	June 30						June 30
(In millions)	2019			2018			2019			2018
Income (loss) from discontinued operations attributable to Composites/Marl facility
Sales	$	281		$	303		$	840		$	865
Cost of sales		(215	)		(242	)		(648	)		(703	)
Selling, general and administrative expense		(20	)		(22	)		(61	)		(55	)
Research and development expense		(2	)		(3	)		(9	)		(9	)
Equity and other income		—			—			3			4
Pretax operating income of discontinued operations		44			36			125			102
Net interest and other expense		(6	)		(5	)		(18	)		(15	)
Pretax income of discontinued operations		38			31			107			87
Income tax expense		(14	)		(6	)		(30	)		(13	)
Income from discontinued operations	$	24		$	25		$	77		$	74