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Equity Items (Tables)
 6 Months Ended
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.