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STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]        
Sales - Note P $ 482 $ 479 $ 868 $ 884
Cost of sales - Note Q 335 332 616 626
Gross profit 147 147 252 258
Selling, general and administrative expense - Note Q 79 85 165 162
Research and development expense - Note Q 14 14 27 28
Intangibles amortization expense - Note G and Note Q 15 15 30 32
Equity and other income - Note Q 0 0 1 1
Income (loss) on divestitures, net - Note B and Note Q 0 18 2 (165)
Operating income (loss) 39 51 33 (128)
Net interest and other expense 18 11 26 39
Other net periodic benefit loss - Note K 1 1 2 3
Income (loss) from continuing operations before income taxes 20 39 5 (170)
Income tax expense (benefit) - Note J 5 9 4 (34)
Income (loss) from continuing operations 15 30 1 (136)
Income from discontinued operations, net of income taxes - Note C 1 1 3 1
Net income (loss) $ 16 $ 31 $ 4 $ (135)
Basic earnings (loss) per share - Note M        
Income (loss) from continuing operations $ 0.32 $ 0.63 $ 0.02 $ (2.91)
Income from discontinued operations 0.02 0.02 0.06 0.03
Net income (loss) 0.34 0.65 0.08 (2.88)
Diluted earnings (loss) per share - Note M        
Income (loss) from continuing operations [1] 0.32 0.63 0.02 (2.91)
Income from discontinued operations 0.02 0.02 0.06 0.03
Net income (loss) $ 0.34 $ 0.65 $ 0.08 $ (2.88)
COMPREHENSIVE INCOME (LOSS)        
Net income (loss) $ 16 $ 31 $ 4 $ (135)
Other comprehensive income (loss), net of tax        
Unrealized translation gain (loss) (12) 49 (10) (45)
Unrealized gain on commodity hedges 0 2 0 3
Other comprehensive income (loss) - Note N (12) 51 (10) (42)
Comprehensive income (loss) $ 4 $ 82 $ (6) $ (177)
[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. Convertible shares for each of the applicable periods was less than $1 million.