Discontinued Operations

6 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

NOTE C – DISCONTINUED OPERATIONS

Ashland has divested certain businesses that have qualified as discontinued operations. The operating results from these divested businesses and subsequent adjustments related to ongoing assessments of certain retained liabilities and income tax items have been recorded within the income (loss) from discontinued operations, net of income taxes caption in the Statements of Condensed Consolidated Comprehensive Income (Loss) for all periods presented.

Due to the ongoing assessment of certain matters associated with previous divestitures, subsequent adjustments to these divestitures may continue in future periods in the income (loss) from discontinued operations, net of income taxes caption in the Statements of Condensed Consolidated Comprehensive Income (Loss).

The following divested businesses represent disposal groups that qualified as discontinued operations in previous periods and impacted discontinued operations for the three and six months ended March 31, 2025 and 2024:

•

The Performance Adhesives business divested in 2022;

•

The Composites business and Marl facility (Composites/Marl facility) divested in 2019;

•

The separation of Valvoline Inc. (Valvoline) business divested in 2017; and

•

The sale of the Ashland Distribution (Distribution) business divested in 2011.

Components of amounts reflected in the Statements of Condensed Consolidated Comprehensive Income (Loss) related to discontinued operations are presented in the following table:


	Three months ended						Six months ended
	March 31						March 31
(In millions)	2025			2024			2025			2024
Income (loss) from discontinued operations, net of income taxes
Performance Adhesives	$	(1	)	$	—		$	(1	)	$	(3	)
Composites/Marl facility		—			(2	)		—			(1	)
Valvoline		2			2			2			2
Distribution		—			(1	)		—			—
	$	1		$	(1	)	$	1		$	(2	)