Exhibit 99.15
(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 | 2011 | ||||||
January | 17.8 | 17.8 | * | 14.9 | 14.6 | |||||
February | 17.9 | 18.0 | * | 14.5 | 14.9 | |||||
March | 17.1 | 17.6 | * | 13.3 | 14.9 | |||||
April | 16.7 | 17.2 | * | 13.1 | 14.8 | |||||
May | 16.4 | 17.3 | * | 12.4 | ||||||
June | 16.5 | 16.4 | * | 13.5 | ||||||
July | 16.3 | 15.9 | * | 13.4 | ||||||
August | 15.7 | 15.2 | * | 12.9 | ||||||
September | 14.6 | * | 14.1 | * | 12.1 | |||||
October | 18.5 | 14.3 | * | 14.8 | 12.4 | |||||
November | 18.6 | 14.7 | * | 15.0 | 12.6 | |||||
December | 18.4 | 16.8 | * | 15.2 | 14.4 |
NOTE: Data has been adjusted to exclude Ashland Distribution, preceding its sale in March 2011, and includes the historical Hercules businesses, preceding its purchase in November 2008.
* Data has been adjusted to reflect certain revisions within the calculation.
# Selected Working Capital Components - April 30, 2011 | ||||||||||||||||
Unaudited Data | ||||||||||||||||
($ in millions) | Operating | Other | ||||||||||||||
segments | (a) | components | (b) | Total | ||||||||||||
Accounts receivable (c) | 1,178 | 65 | 1,243 | |||||||||||||
Inventories (d) | 619 | (57 | ) | 562 | ||||||||||||
(Less) Trade and other payables | (842 | ) | (472 | ) | (1,314 | ) | ||||||||||
Net | 955 | (464 | ) | 491 | ||||||||||||
(a) Represents amounts considered in internal performance metrics applicable to most employees. | ||||||||||||||||
(b) Amount relates primarily to items classified within the unallocated and other category. | ||||||||||||||||
(c) Accounts receivable is shown net of allowances for doubtful accounts. | ||||||||||||||||
(d) Operating segment amount excludes LIFO reserve, which is presented under other components. |