Goodwill and Other Intangible Assets

6 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE G – GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Ashland tests goodwill and other indefinite-lived intangible assets for impairment annually as of July 1 or whenever events and circumstances indicate an impairment may have occurred.

No indicators of impairment were identified during the three and six months ended March 31, 2026.

The following is a progression of goodwill by reportable segment for the six months ended March 31, 2026:


	Life			Personal			Specialty
(In millions)	Sciences			Care			Additives		Intermediates		Total
Balance at September 30, 2025(a)	$	466		$	127		$	112	$	—	$	705
Currency translation		(4	)		(1	)		—		—		(5	)
Balance at March 31, 2026(a)	$	462		$	126		$	112	$	—	$	700

(a)

As of both March 31, 2026 and September 30, 2025, there were accumulated impairments of $375 million, $356 million, $505 million and $90 million related to the Life Sciences, Personal Care, Specialty Additives and Intermediates reportable segments, respectively.

Other intangible assets

Other intangible assets principally consist of trademarks and trade names, intellectual property and customer lists. Intangible assets classified as finite are amortized on a straight-line basis over their estimated useful lives. The cost of trademarks and trade names is amortized principally over 3 to 20 years, intellectual property over 3 to 20 years, and customer lists over 10 to 24 years.

Ashland annually reviews, as of July 1, indefinite-lived intangible assets for impairment or whenever events or changes in circumstances indicate that carrying amounts may not be recoverable.

No indicators of impairment were identified for indefinite-lived trademarks and trade names during the three and six months ended March 31, 2026.

Other intangible assets were comprised of the following as of:


	March 31, 2026							September 30, 2025
	Gross					Net		Gross					Net
	carrying		Accumulated			carrying		carrying		Accumulated			carrying
(In millions)	amount		amortization			amount		amount		amortization			amount
Definite-lived intangible assets
Trademarks and trade names	$	74	$	(41	)	$	33	$	75	$	(39	)	$	36
Intellectual property		678		(649	)		29		683		(638	)		45
Customer lists		608		(419	)		189		614		(410	)		204
Total definite-lived intangible assets		1,360		(1,109	)		251		1,372		(1,087	)		285

Indefinite-lived intangible assets
Trademarks and trade names		278		—			278		278		—			278
Total indefinite-lived intangible assets	$	1,638	$	(1,109	)	$	529	$	1,650	$	(1,087	)	$	563

Amortization expense recognized on other intangible assets was $15 million for both the three months ended March 31, 2026 and 2025, and $30 million and $32 million for the six months ended March 31, 2026 and 2025, respectively, and is included within the intangibles amortization expense caption of the Statements of Condensed Consolidated Comprehensive Income (Loss). Estimated amortization expense for future periods is $60 million in 2026 (includes six months actual and six months estimated), $37 million in 2027, $34 million in 2028, $27 million in 2029 and $19 million in 2030. Actual amounts may change from such estimated amounts due to fluctuations in foreign currency exchange rates, additional intangible asset acquisitions and divestitures, potential impairment, accelerated amortization, or other events.