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Equity Items (Tables) | 6 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Schedule of Stock Repurchase Activity | The following table provides the common stock repurchase activity:
|  | Three months ended |  |  | Six months ended |
|  | March 31 |  |  | March 31 |
(In millions, except per share data) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Number of shares repurchased |  |  | 1.50 |  |  |  | — |  |  |  | 1.50 |  |  |  | 1.20 |
Weighted-average price per share(a) |  | $ | 64.90 |  |  | $ | — |  |  | $ | 64.90 |  |  | $ | 80.78 |
Aggregate purchase price(a) |  | $ | 100 |  |  | $ | — |  |  | $ | 100 |  |  | $ | 100 |
Program |  | 2023 Stock Repurchase Program |  |  | NA |  |  | 2023 Stock Repurchase Program |  |  | 2023 Stock Repurchase Program |
(a) Includes transactions costs.
Components of Accumulated Other Comprehensive Income (Loss) | Components of other comprehensive income (loss) recorded in the Statements of Condensed Consolidated Comprehensive Income (Loss) are presented below, before tax and net of tax effects.
|  | 2025 |  |  | 2024 |
(In millions) |  | Before tax |  |  | Tax benefit (expense) |  |  | Net of tax |  |  | Before tax |  |  | Tax benefit |  |  | Net of tax |
Three months ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized translation gain (loss) |  | $ | 49 |  |  | $ | — |  |  | $ | 49 |  |  | $ | (27 | ) |  | $ | — |  |  | $ | (27 | )
Unrealized gain (loss) on commodity hedges |  |  | 3 |  |  |  | (1 | ) |  |  | 2 |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Total other comprehensive income (loss) |  | $ | 52 |  |  | $ | (1 | ) |  | $ | 51 |  |  | $ | (26 | ) |  | $ | — |  |  | $ | (26 | )
Six months ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized translation gain (loss) |  | $ | (46 | ) |  | $ | 1 |  |  | $ | (45 | ) |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
Unrealized gain (loss) on commodity hedges |  |  | 4 |  |  |  | (1 | ) |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |
Total other comprehensive income (loss) |  | $ | (42 | ) |  | $ | — |  |  | $ | (42 | ) |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
Summary of Reconciliation of Changes in Stockholders' Equity | A reconciliation of changes in stockholders’ equity are as follows:
|  | Three months ended |  |  | Six months ended |
|  | March 31 |  |  | March 31 |
(In millions, except per share data) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Common stock and paid in capital |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 5 |
Common shares issued under stock incentive and other plans(a) |  |  | 5 |  |  |  | 5 |  |  |  | 6 |  |  |  | 3 |
Common shares purchased under repurchase program(b)(c) |  |  | (6 | ) |  |  | — |  |  |  | (6 | ) |  |  | (2 | )
Balance, end of period |  |  | 1 |  |  |  | 6 |  |  |  | 1 |  |  |  | 6 |
Retained earnings |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  |  | 3,131 |  |  |  | 3,502 |  |  |  | 3,315 |  |  |  | 3,595 |
Net income (loss) |  |  | 31 |  |  |  | 120 |  |  |  | (135 | ) |  |  | 147 |
Regular dividends |  |  | (19 | ) |  |  | (19 | ) |  |  | (38 | ) |  |  | (39 | )
Common shares purchased under repurchase program(b)(c) |  |  | (95 | ) |  |  | — |  |  |  | (95 | ) |  |  | (99 | )
Other |  |  | — |  |  |  | 1 |  |  |  | 1 |  |  |  | — |
Balance, end of period |  |  | 3,048 |  |  |  | 3,604 |  |  |  | 3,048 |  |  |  | 3,604 |
Accumulated other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  |  | (541 | ) |  |  | (450 | ) |  |  | (448 | ) |  |  | (503 | )
Unrealized translation gain (loss) |  |  | 49 |  |  |  | (27 | ) |  |  | (45 | ) |  |  | 27 |
Unrealized gain (loss) on commodity hedges |  |  | 2 |  |  |  | 1 |  |  |  | 3 |  |  |  | — |
Balance, end of period |  |  | (490 | ) |  |  | (476 | ) |  |  | (490 | ) |  |  | (476 | )
Total stockholders' equity |  | $ | 2,559 |  |  | $ | 3,134 |  |  | $ | 2,559 |  |  | $ | 3,134 |
Cash dividends declared per common share |  | $ | 0.405 |  |  | $ | 0.385 |  |  | $ | 0.810 |  |  | $ | 0.770 |
(a) Common stock issued were 52,993 and 32,458 for the three months ended March 31, 2025 and 2024, respectively, and 128,401 and 110,807 for the six months ended March 31, 2025 and 2024, respectively. Includes zero and $1 million for the three months ended March 31, 2025 and 2024, respectively, and $3 million and $4 million for the six months ended March 31, 2025 and 2024, respectively, associated with stock-based compensation employee withholding taxes. (b) Common stock repurchased were 1,541,320 for the three and six months ended March 31, 2025, and zero and 1,238,212 for the three and six months ended March 31, 2024. (c) Includes $1 million in excise tax on common stock repurchases for both the three and six months ended March 31, 2025, and zero and $1 million for the three and six months ended March 31, 2024, respectively. Ashland paid a total of $100 million for the three and six months ended March 31, 2025 and zero and $100 million for the three and six months ended March 31, 2024, respectively, for common stock repurchases.

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2 + Details
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