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Discontinued Operations (Tables)
 9 Months Ended
Jun. 30, 2019
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 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