XML 26 R20.htm IDEA: XBRL DOCUMENT v3.26.1
Equity Items
 6 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Equity Items

NOTE N – EQUITY ITEMS

2023 Stock repurchase program

On June 28, 2023, Ashland's board of directors authorized a new evergreen $1 billion common share repurchase program ("2023 Stock Repurchase Program"). As of March 31, 2026, $520 million remained available for repurchase under the 2023 Stock Repurchase Program.

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)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Number of shares repurchased

 

 

—

 

 

 

1.50

 

 

 

—

 

 

 

1.50

 

Weighted-average price per share(a)

 

$

—

 

 

$

64.90

 

 

$

—

 

 

$

64.90

 

Aggregate purchase price(a)

 

$

—

 

 

$

100

 

 

$

—

 

 

$

100

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(a)
Includes transaction costs.

Stockholder dividends

Dividends of 41.5 cents per share were paid in both the first and second quarters of fiscal 2026 and 40.5 cents per share were paid in both the first and second quarters of fiscal 2025.

Accumulated other comprehensive 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:

 

 

2026

 

 

2025

 

(In millions)

 

Before
tax

 

 

Tax expense

 

 

Net of
tax

 

 

Before
tax

 

 

Tax benefit (expense)

 

 

Net of
tax

 

Three months ended March 31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized translation gain (loss)

 

$

(12

)

 

$

—

 

 

$

(12

)

 

$

49

 

 

$

—

 

 

$

49

 

Unrealized gain on commodity hedges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

 

 

(1

)

 

 

2

 

Total other comprehensive income (loss)

 

$

(12

)

 

$

—

 

 

$

(12

)

 

$

52

 

 

$

(1

)

 

$

51

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended March 31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized translation loss

 

$

(9

)

 

$

(1

)

 

$

(10

)

 

$

(46

)

 

$

1

 

 

$

(45

)

Unrealized gain on commodity hedges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

 

 

(1

)

 

 

3

 

Total other comprehensive loss

 

$

(9

)

 

$

(1

)

 

$

(10

)

 

$

(42

)

 

$

—

 

 

$

(42

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of 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)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Common stock and paid in capital

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

9

 

 

$

2

 

 

$

7

 

 

$

1

 

Common shares issued under stock incentive and other plans(a)

 

 

4

 

 

 

5

 

 

 

6

 

 

 

6

 

Common shares purchased under repurchase program(b)(c)

 

 

—

 

 

 

(6

)

 

 

—

 

 

 

(6

)

Balance, end of period

 

 

13

 

 

 

1

 

 

 

13

 

 

 

1

 

Retained earnings

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

 

2,268

 

 

 

3,131

 

 

 

2,298

 

 

 

3,315

 

Net income (loss)

 

 

16

 

 

 

31

 

 

 

4

 

 

 

(135

)

Regular dividends

 

 

(19

)

 

 

(19

)

 

 

(38

)

 

 

(38

)

Common shares purchased under repurchase program(b)(c)

 

 

—

 

 

 

(95

)

 

 

—

 

 

 

(95

)

Other

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

1

 

Balance, end of period

 

 

2,264

 

 

 

3,048

 

 

 

2,264

 

 

 

3,048

 

Accumulated other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

 

(399

)

 

 

(541

)

 

 

(401

)

 

 

(448

)

Unrealized translation gain (loss)

 

 

(12

)

 

 

49

 

 

 

(10

)

 

 

(45

)

Unrealized gain (loss) on commodity hedges

 

 

—

 

 

 

2

 

 

 

—

 

 

 

3

 

Balance, end of period

 

 

(411

)

 

 

(490

)

 

 

(411

)

 

 

(490

)

Total stockholders' equity

 

$

1,866

 

 

$

2,559

 

 

$

1,866

 

 

$

2,559

 

Cash dividends declared per common share

 

$

0.415

 

 

$

0.405

 

 

$

0.830

 

 

$

0.810

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(a)
Common stock issued were 25,386 and 52,993 for the three months ended March 31, 2026 and 2025, respectively, and 78,012 and 128,401 for the six months ended March 31, 2026 and 2025, respectively. Includes zero for both the three months ended March 31, 2026 and 2025, and $2 million and $3 million for the six months ended March 31, 2026 and 2025, respectively, associated with stock-based compensation employee withholding taxes.
(b)
Common stock repurchased were zero for each of the three and six months ended March 31, 2026, and 1,541,320 for each of the three and six months ended March 31, 2025.
(c)
Includes zero in excise tax on common stock repurchases for both the three and six months ended March 31, 2026, and $1 million for both the three and six months ended March 31, 2025. Ashland paid a total of $100 million for the three and six months ended March 31, 2025 for common stock repurchases.