XML 45 R39.htm IDEA: XBRL DOCUMENT v3.26.1
Reportable Segment Information (Tables)
 6 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Summary of Financial Information for Each Reportable Segment

The following table presents various financial information for each reportable segment:

 

Three months ended

 

 

Six months ended

 

 

March 31

 

 

March 31

 

(In millions - unaudited)

2026

 

 

2025

 

 

2026

 

 

2025

 

Sales

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

172

 

 

$

172

 

 

$

311

 

 

$

306

 

Personal Care

 

150

 

 

 

146

 

 

 

273

 

 

 

279

 

Specialty Additives

 

134

 

 

 

134

 

 

 

236

 

 

 

249

 

Intermediates

 

35

 

 

 

37

 

 

 

66

 

 

 

71

 

Intersegment sales(a)

 

(9

)

 

 

(10

)

 

 

(18

)

 

 

(21

)

$

482

 

 

$

479

 

 

$

868

 

 

$

884

 

Cost of sales

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

109

 

 

$

117

 

 

$

203

 

 

$

208

 

Personal Care

 

88

 

 

 

82

 

 

 

167

 

 

 

169

 

Specialty Additives

 

118

 

 

 

106

 

 

 

206

 

 

 

205

 

Intermediates

 

29

 

 

 

37

 

 

 

58

 

 

 

65

 

Intersegment sales

 

(9

)

 

 

(10

)

 

 

(18

)

 

 

(21

)

 

$

335

 

 

$

332

 

 

$

616

 

 

$

626

 

Selling, general and administrative expense

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

20

 

 

$

19

 

 

$

40

 

 

$

40

 

Personal Care

 

21

 

 

 

21

 

 

 

42

 

 

 

41

 

Specialty Additives

 

17

 

 

 

15

 

 

 

33

 

 

 

31

 

Intermediates

 

2

 

 

 

1

 

 

 

4

 

 

 

4

 

   Total operating segments

 

60

 

 

 

56

 

 

 

119

 

 

 

116

 

Unallocated and other

 

19

 

 

 

29

 

 

 

46

 

 

 

46

 

 

$

79

 

 

$

85

 

 

$

165

 

 

$

162

 

Research and development expense

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

3

 

 

$

4

 

 

$

7

 

 

$

8

 

Personal Care

 

6

 

 

 

7

 

 

 

11

 

 

 

12

 

Specialty Additives

 

4

 

 

 

3

 

 

 

7

 

 

 

6

 

Intermediates

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

   Total operating segments

 

13

 

 

 

14

 

 

 

25

 

 

 

26

 

Unallocated and other

 

1

 

 

 

—

 

 

 

2

 

 

 

2

 

 

$

14

 

 

$

14

 

 

$

27

 

 

$

28

 

Amortization expense

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

5

 

 

$

4

 

 

$

9

 

 

$

8

 

Personal Care

 

8

 

 

 

8

 

 

 

16

 

 

 

19

 

Specialty Additives

 

2

 

 

 

3

 

 

 

5

 

 

 

5

 

Intermediates

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

   Total operating segments

 

15

 

 

 

15

 

 

 

30

 

 

 

32

 

Unallocated and other

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

15

 

 

$

15

 

 

$

30

 

 

$

32

 

Equity and other income

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Personal Care

 

—

 

 

 

—

 

 

 

1

 

 

 

1

 

Specialty Additives

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Intermediates

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

   Total operating segments

 

—

 

 

 

—

 

 

 

1

 

 

 

1

 

Unallocated and other

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

—

 

 

$

—

 

 

$

1

 

 

$

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

Three months ended

 

 

March 31

 

 

March 31

 

(In millions - unaudited)

2026

 

 

2025

 

 

2026

 

 

2025

 

Income (loss) on divestitures, net

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Personal Care

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Specialty Additives

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Intermediates

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

   Total operating segments

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Unallocated and other

 

—

 

 

 

18

 

 

 

2

 

 

 

(165

)

 

$

—

 

 

$

18

 

 

$

2

 

 

$

(165

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

35

 

 

$

28

 

 

$

52

 

 

$

42

 

Personal Care

 

27

 

 

 

28

 

 

 

38

 

 

 

39

 

Specialty Additives

 

(7

)

 

 

7

 

 

 

(15

)

 

 

2

 

Intermediates

 

4

 

 

 

(1

)

 

 

4

 

 

 

2

 

   Total operating segments

 

59

 

 

 

62

 

 

 

79

 

 

 

85

 

Unallocated and other(b)

 

(20

)

 

 

(11

)

 

 

(46

)

 

 

(213

)

   Total operating income (loss)

$

39

 

 

$

51

 

 

$

33

 

 

$

(128

)

Net interest and other expense

 

18

 

 

 

11

 

 

 

26

 

 

 

39

 

Other net periodic benefit loss

 

1

 

 

 

1

 

 

 

2

 

 

 

3

 

Income (loss) from continuing operations before income taxes

$

20

 

 

$

39

 

 

$

5

 

 

$

(170

)

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA(c)

 

 

 

 

 

 

 

 

 

 

 

Life Sciences

$

49

 

 

$

54

 

 

$

80

 

 

$

81

 

Personal Care

 

42

 

 

 

43

 

 

 

68

 

 

 

73

 

Specialty Additives

 

8

 

 

 

23

 

 

 

18

 

 

 

34

 

Intermediates

 

5

 

 

 

2

 

 

 

6

 

 

 

8

 

   Total operating segments

 

104

 

 

 

122

 

 

 

172

 

 

 

196

 

Unallocated and other

 

(20

)

 

 

(11

)

 

 

(46

)

 

 

(213

)

   Total EBITDA

$

84

 

 

$

111

 

 

$

126

 

 

$

(17

)

Depreciation expense

 

30

 

 

 

45

 

 

 

63

 

 

 

79

 

Amortization expense

 

15

 

 

 

15

 

 

 

30

 

 

 

32

 

Net interest and other expense

 

18

 

 

 

11

 

 

 

26

 

 

 

39

 

Other net periodic benefit loss

 

1

 

 

 

1

 

 

 

2

 

 

 

3

 

Income (loss) from continuing operations before income taxes

$

20

 

 

$

39

 

 

$

5

 

 

$

(170

)

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation expense

 

 

 

 

 

 

 

 

 

 

 

Life Sciences(d)

$

9

 

 

$

22

 

 

$

19

 

 

$

31

 

Personal Care

 

7

 

 

 

7

 

 

 

14

 

 

 

15

 

Specialty Additives(e)

 

13

 

 

 

13

 

 

 

28

 

 

 

27

 

Intermediates

 

1

 

 

 

3

 

 

 

2

 

 

 

6

 

   Total operating segments

 

30

 

 

 

45

 

 

 

63

 

 

 

79

 

Unallocated and other

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

30

 

 

$

45

 

 

$

63

 

 

$

79

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31

 

 

September 30

 

(In millions - unaudited)

2026

 

 

2025

 

Assets

 

 

 

 

 

Life Sciences

$

1,455

 

 

$

1,498

 

Personal Care

 

714

 

 

 

751

 

Specialty Additives

 

988

 

 

 

1,020

 

Intermediates

 

107

 

 

 

116

 

Unallocated and other

 

1,235

 

 

 

1,226

 

 

$

4,499

 

 

$

4,611

 

Property, plant and equipment - net

 

 

 

 

 

Life Sciences

$

468

 

 

$

481

 

Personal Care

 

95

 

 

 

101

 

Specialty Additives

 

468

 

 

 

484

 

Intermediates

 

30

 

 

 

30

 

Unallocated and other

 

102

 

 

 

105

 

 

$

1,163

 

 

$

1,201

 

 

 

 

 

 

 
(a)
Intersegment sales from Intermediates are accounted for at prices that approximate market value. All other intersegment sales are accounted for at cost.
(b)
Includes a $2 million gain on sale of excess corporate property for the six months ended March 31, 2026, a $8 million gain on sale of excess corporate property for both the three and six months ended March 31, 2025, and a $183 million impairment charge related to the Avoca business for the six months ended March 31, 2025, within the income (loss) on divestitures, net caption of the Statements of Condensed Consolidated Income (Loss).
(c)
Excludes income from discontinued operations, net of income taxes and other net periodic benefit loss. See the Statements of Condensed Consolidated Comprehensive Income (Loss) for applicable amounts excluded.
(d)
Depreciation includes accelerated depreciation of $13 million for Life Sciences for both the three and six months ended March 31, 2025.
(e)
Depreciation includes accelerated depreciation of $3 million for Specialty Additives for the six months ended March 31, 2026.