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Revenue
 6 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE P – REVENUE

Disaggregation of revenue

Ashland disaggregates its revenue by reportable segment and geographical region as Ashland believes these categories best depict how management reviews the financial performance of its operations. Ashland includes only U.S. and Canada in its North America designation and includes Europe, the Middle East and Africa in its Europe designation. See the following tables for details. See Note Q for additional information.

Sales by geography

 

 

 

Three months ended

 

 

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March 31

 

 

March 31

 

(In millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Life Sciences

 

North America

 

$

32

 

 

$

30

 

 

$

59

 

 

$

53

 

Europe

 

 

68

 

 

 

69

 

 

 

117

 

 

 

119

 

Asia Pacific

 

 

53

 

 

 

53

 

 

 

99

 

 

 

99

 

Latin America & other

 

 

19

 

 

 

20

 

 

 

36

 

 

 

35

 

 

$

172

 

 

$

172

 

 

$

311

 

 

$

306

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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March 31

 

 

March 31

 

(In millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Personal Care

 

North America

 

$

38

 

 

$

41

 

 

$

68

 

 

$

81

 

Europe

 

 

60

 

 

 

59

 

 

 

106

 

 

 

104

 

Asia Pacific

 

 

33

 

 

 

30

 

 

 

64

 

 

 

60

 

Latin America & other

 

 

19

 

 

 

16

 

 

 

35

 

 

 

34

 

 

$

150

 

 

$

146

 

 

$

273

 

 

$

279

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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March 31

 

 

March 31

 

(In millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Specialty Additives

 

North America

 

$

43

 

 

$

46

 

 

$

79

 

 

$

86

 

Europe

 

 

47

 

 

 

48

 

 

 

79

 

 

 

82

 

Asia Pacific

 

 

36

 

 

 

33

 

 

 

64

 

 

 

67

 

Latin America & other

 

 

8

 

 

 

7

 

 

 

14

 

 

 

14

 

 

$

134

 

 

$

134

 

 

$

236

 

 

$

249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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March 31

 

 

March 31

 

(In millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Intermediates

 

North America

 

$

25

 

 

$

25

 

 

$

44

 

 

$

48

 

Europe

 

 

5

 

 

 

6

 

 

 

10

 

 

 

11

 

Asia Pacific

 

 

3

 

 

 

4

 

 

 

8

 

 

 

8

 

Latin America & other

 

 

2

 

 

 

2

 

 

 

4

 

 

 

4

 

 

$

35

 

 

$

37

 

 

$

66

 

 

$

71

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ashland has two product categories that represent 10% or greater of Ashland's total consolidated sales, which were cellulosics and polyvinylpyrrolidones ("PVP"). The following table summarizes the percentage of Ashland's total consolidated sales for these products:

 

 

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March 31

 

 

March 31

 

(In millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cellulosics

 

 

41

%

 

 

38

%

 

 

40

%

 

 

39

%

PVP

 

 

23

%

 

 

25

%

 

 

24

%

 

 

24

%

 

 

64

%

 

 

63

%

 

 

64

%

 

 

63

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade receivables

Trade receivables are defined as receivables arising from contracts with customers and are recorded within the accounts receivable, net caption within the Condensed Consolidated Balance Sheets. Ashland’s trade receivables were $199 million and $200 million as of March 31, 2026 and September 30, 2025, respectively. See Note H for additional information on Ashland’s programs to sell certain accounts receivables on a revolving basis to third-party banks up to an aggregate purchase limit (U.S and Foreign Accounts Receivable Sales Programs).