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 | 2010 | |||||
January | 17.0 | * | 16.9 | 14.0 | ||||
February | 16.7 | * | 16.9 | 13.7 | ||||
March | 15.6 | * | 16.3 | 12.3 | ||||
April | 15.5 | * | 15.9 | 12.2 | ||||
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 | 13.6 | ||||
December | 17.1 | * | 16.2 | 14.1 |
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 - April 30, 2010 | ||||||||||||||||
Unaudited Data | ||||||||||||||||
($ in millions) | Operating | Other | ||||||||||||||
segments | (a) | components | (b) | Total | ||||||||||||
Accounts receivable (c) | 1,459 | 31 | 1,490 | |||||||||||||
Inventories (d) | 739 | (141 | ) | 598 | ||||||||||||
(Less) Trade and other payables | (1,079 | ) | (440 | ) | (1,519 | ) | ||||||||||
Net | 1,119 | (550 | ) | 569 | ||||||||||||
(a) Represents amounts considered in internal performance metrics applicable to most employees. | ||||||||||||||||
(b) Amount relates 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. |