Exhibit 99.18
(Text of graph posted to Ashland Inc.'s website concerning
Ashland Inc. operating segment trade working capital)
% of Annualized Sales# | ||||||
Monthly Actual % | ||||||
2007 | 2008 | 2009 | ||||
January | 17.0 | * | 16.9 | |||
February | 16.7 | * | 16.9 | |||
March | 15.6 | * | 16.3 | |||
April | 15.5 | * | 15.9 | |||
May | 15.1 | * | 16.0 | |||
June | 15.2 | * | 14.9 | |||
July | 14.6 | * | 14.4 | |||
August | 14.5 | * | 13.9 | |||
September | 13.7 | * | ||||
October | 16.3 | * | 13.3 | * | ||
November | 16.6 | * | 14.1 | |||
December | 17.1 | * | 16.2 |
*NOTE: Data has been adjusted to include the historical Hercules businesses, preceding its purchase in November 2008.
#NOTE: Selected Working Capital Components - August 31, 2009 | ||||||||||||||||
Unaudited Data | ||||||||||||||||
($ in millions) | Operating | Other | ||||||||||||||
segments | (a) | components | (b) | Total | ||||||||||||
Accounts receivable (c) | 1,376 | 16 | 1,392 | |||||||||||||
Inventories (d) | 703 | (140 | ) | 563 | ||||||||||||
(Less) Trade and other payables | (901 | ) | (416 | ) | (1,317 | ) | ||||||||||
Net | 1,178 | (540 | ) | 638 | ||||||||||||
(a) Represents amounts considered in internal performance metrics applicable to most employees. | ||||||||||||||||
(b) Amounts relate primarily to items within Corporate reporting segments. | ||||||||||||||||
(c) Accounts receivable is shown net of allowances for doubtful accounts. | ||||||||||||||||
(d) Operating segment amount excludes LIFO reserve, which is presented under other components. |