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 | * | 12.7 | |||
October | 16.3 | * | 13.3 | * | 13.2 | |
November | 16.6 | * | 14.1 | 13.1 | ||
December | 17.1 | * | 16.2 |
NOTE: Ashland's fiscal 2010 operating segment trade working capital target is a 13 month average of 14.9%.
* Data has been adjusted to include the historical Hercules businesses, preceding its purchase in November 2008.
# Selected Working Capital Components - November 30, 2009 | ||||||||||||||||
Unaudited Data | ||||||||||||||||
($ in millions) | Operating | Other | ||||||||||||||
segments | (a) | components | (c) | Total | ||||||||||||
Accounts receivable (b) | 1,345 | 38 | 1,383 | |||||||||||||
Inventories (d) | 739 | (129 | ) | 610 | ||||||||||||
(Less) Trade and other payables | (937 | ) | (473 | ) | (1,410 | ) | ||||||||||
Net | 1,147 | (564 | ) | 583 | ||||||||||||
(a) Represents amounts considered in internal performance metrics applicable to most employees. | ||||||||||||||||
(b) Accounts receivable is shown net of allowances for doubtful accounts. | ||||||||||||||||
(c) Amounts relate primarily to items within Corporate reporting segments. | ||||||||||||||||
(d) Operating segment amount excludes LIFO reserve, which is presented under other components. |