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STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]        
Sales - Note P $ 479 $ 575 $ 884 $ 1,048
Cost of sales 332 414 626 789
Gross profit 147 161 258 259
Selling, general and administrative expense 85 106 162 189
Research and development expense 14 14 28 26
Intangibles amortization expense - Note G 15 20 32 40
Equity and other income 0 0 1 2
Income (loss) on acquisitions and divestitures, net - Note B 18 0 (165) (2)
Operating income (loss) 51 21 (128) 4
Net interest and other expense (income) 11 2 39 (21)
Other net periodic benefit loss - Note K 1 2 3 4
Income (loss) from continuing operations before income taxes 39 17 (170) 21
Income tax expense (benefit) - Note J 9 (104) (34) (128)
Income (loss) from continuing operations 30 121 (136) 149
Income (loss) from discontinued operations, net of income taxes - Note C 1 (1) 1 (2)
Net income (loss) $ 31 $ 120 $ (135) $ 147
Basic earnings per share - Note M        
Income (loss) from continuing operations $ 0.63 $ 2.43 $ (2.91) $ 2.95
Income (loss) from discontinued operations 0.02 (0.01) 0.03 (0.04)
Net income (loss) 0.65 2.42 (2.88) 2.91
Diluted earnings per share - Note M        
Income (loss) from continuing operations [1] 0.63 2.4 (2.91) 2.92
Income (loss) from discontinued operations 0.02 (0.01) 0.03 (0.04)
Net income (loss) $ 0.65 $ 2.39 $ (2.88) $ 2.88
COMPREHENSIVE INCOME (LOSS)        
Net income (loss) $ 31 $ 120 $ (135) $ 147
Other comprehensive income (loss), net of tax        
Unrealized translation gain (loss) 49 (27) (45) 27
Unrealized gain on commodity hedges 2 1 3 0
Other comprehensive income (loss) - Note N 51 (26) (42) 27
Comprehensive income (loss) $ 82 $ 94 $ (177) $ 174
[1] As a result of the loss from continuing operations attributable to Ashland during the six months ended March 31, 2025, the effect of the share-based awards convertible to common stock would be antidilutive and have been excluded from the diluted EPS calculation.