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Restructuring Activities

6 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activities

NOTE D – RESTRUCTURING ACTIVITIES

Company-wide restructuring activities

Ashland periodically implements company-wide restructuring programs related to acquisitions, divestitures and other cost reduction programs in order to enhance profitability through streamlined operations and an improved overall cost structure.

Fiscal 2020 and 2021 restructuring program

Ashland recorded severance expense of zero during both the three months ended March 31, 2022 and 2021 and income of $1 million and expense of $8 million during the six months ended March 31, 2022 and 2021, respectively, attributable to executive management changes and business management changes within the organization. As of March 31, 2022, the severance reserve associated with this transition was $3 million.

The following table details at March 31, 2022 and 2021, the amount of restructuring severance reserves related to this program. The severance reserves were primarily recorded within accrued expenses and other liabilities in the Condensed Consolidated Balance Sheet as of March 31, 2022 and 2021.

(In millions)	Severance costs
Balance at of September 30, 2021	$	6
Restructuring reserve		(1	)
Utilization (cash paid)		(2	)
Balance at March 31, 2022	$	3

(In millions)	Severance costs
Balance at of September 30, 2020	$	39
Restructuring reserve		8
Utilization (cash paid)		(23	)
Balance at March 31, 2021	$	24

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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