Ashland (ASH) 10-Q 31 Jan 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Dec. 31, 2023 shares
Cover [Abstract]
Entity Registrant Name	ASHLAND INC.
Entity Central Index Key	0001674862
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	333-211719
Entity Tax Identification Number	81-2587835
Entity Address, Address Line One	8145 Blazer Drive
Entity Address, City or Town	Wilmington
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19808
Entity Shell Company	false
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
City Area Code	302
Local Phone Number	995-3000
Entity Common Stock, Shares Outstanding	50,094,986
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	ASH
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NYSE
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Entity Incorporation, State or Country Code	DE

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Sales	$ 473	$ 525
Cost of sales	375	360
Gross profit	98	165
Selling, general and administrative expense	83	93
Research and development expense	12	13
Intangibles amortization expense - Note F	21	23
Equity and other income	2	1
Loss on acquisitions and divestitures, net	(2)	0
Operating income (loss)	(18)	37
Net interest and other income	(24)	(14)
Other net periodic benefit loss - Note J	2	1
Income from continuing operations before income taxes	4	50
Income tax expense (benefit) - Note I	(24)	8
Income from continuing operations	28	42
Loss from discontinued operations, net of income taxes - Note B	(2)	(2)
Net income	$ 26	$ 40
Basic earnings per share - Note L
Income from continuing operations	$ 0.54	$ 0.77
Loss from discontinued operations	(0.03)	(0.03)
Net income	0.51	0.74
Diluted earnings per share - Note L
Income from continuing operations	0.54	0.76
Loss from discontinued operations	(0.03)	(0.03)
Net income	$ 0.51	$ 0.73
COMPREHENSIVE INCOME
Net income	$ 26	$ 40
Other comprehensive income (loss), net of tax
Unrealized translation gain	54	82
Unrealized loss on commodity hedges	(1)	(4)
Other comprehensive income - Note M	53	78
Comprehensive income	$ 79	$ 118

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions		Dec. 31, 2023	Sep. 30, 2023
Current assets
Cash and cash equivalents		$ 440	$ 417
Accounts receivable - Note G	[1]	194	338
Inventories - Note F		588	626
Other assets		143	125
Total current assets		1,365	1,506
Property, plant and equipment
Cost		3,277	3,211
Accumulated depreciation		1,910	1,838
Net property, plant and equipment		1,367	1,373
Goodwill - Note F		1,396	1,362
Intangibles - Note F		875	886
Operating lease assets, net - Note H		123	122
Restricted investments - Note D		315	290
Asbestos insurance receivable - Note K	[2]	124	127
Deferred income taxes		45	22
Other assets		256	251
Total noncurrent assets		4,501	4,433
Total assets		5,866	5,939
Current liabilities
Short-term debt - Note G		0	16
Trade and other payables		202	210
Accrued expenses and other liabilities		190	208
Current operating lease obligations - Note H		22	22
Total current liabilities		414	456
Noncurrent liabilities
Long-term debt - Note G		1,341	1,314
Asbestos litigation reserve - Note K		412	427
Deferred income taxes		148	148
Employee benefit obligations - Note J		98	100
Operating lease obligations - Note H		107	106
Other liabilities		293	291
Total noncurrent liabilities		2,399	2,386
Commitments and contingencies - Note K
Stockholders' equity - Note M		3,053	3,097
Total liabilities and stockholders' equity		$ 5,866	$ 5,939
[1] Accounts receivable includes an allowance for credit losses of $ 3 million at both December 31, 2023 and September 30, 2023 . Asbestos insurance receivable includes an allowance for credit losses of $2 million at both December 31, 2023 and September 30, 2023 .

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Current assets
Allowance for credit losses on Accounts receivables	$ 3	$ 3

STATEMENTS OF CONDENSED CONSOLI

STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (unaudited) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS PROVIDED (USED) BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS
Net income		$ 26	$ 40
Loss from discontinued operations, net of income taxes		2	2
Adjustments to reconcile income from continuing operations to cash flows from operating activities:
Depreciation and amortization		77	59
Original issue discount and debt issuance costs amortization		1	1
Deferred income taxes		(30)	7
Stock based compensation expense		1	7
Excess tax benefit on stock based compensation		0	1
Income from restricted investments		(35)	(26)
Asset impairments		0	4
Pension contributions		(8)	(1)
Change in operating assets and liabilities	[1]	167	(123)
Total cash flows provided (used) by operating activities from continuing operations		201	(29)
CASH FLOWS PROVIDED (USED) BY INVESTING ACTIVITIES FROM CONTINUING OPERATIONS
Additions to property, plant and equipment		(36)	(23)
Proceeds from settlement of company-owned life insurance contracts		0	2
Company-owned life insurance payments		(1)	(1)
Funds restricted for specific transactions		(5)	(5)
Reimbursements from restricted investments		16	0
Proceeds from sale of securities		9	0
Purchases of securities		(9)	0
Total cash flows used by investing activities from continuing operations		(26)	(27)
CASH FLOWS PROVIDED (USED) BY FINANCING ACTIVITIES FROM CONTINUING OPERATIONS
Repurchase of common stock		(100)	0
Repayment of short-term debt		(16)	0
Cash dividends paid		(20)	(18)
Stock based compensation employee withholding taxes paid in cash		(3)	(9)
Total cash flows used by financing activities from continuing operations		(139)	(27)
CASH PROVIDED (USED) BY CONTINUING OPERATIONS		36	(83)
Cash used by discontinued operations
Operating cash flows		(14)	(34)
Total cash used by discontinued operations		(14)	(34)
Effect of currency exchange rate changes on cash and cash equivalents		1	3
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		23	(114)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		417	646
CASH AND CASH EQUIVALENTS - END OF PERIOD		$ 440	$ 532
[1] Excludes changes resulting from operations acquired, sold or held for sale.

Insider Trading Arrangements

Insider Trading Arrangements - shares		1 Months Ended	3 Months Ended
	Nov. 17, 2023	Nov. 30, 2023	Dec. 31, 2023
Trading Arrangements, by Individual
Material Terms of Trading Arrangement			Securities Trading Plans of Directors and Executive Officers On November 17, 2023 , Robin E. Lampkin , Ashland’s Senior Vice President, General Counsel and Corporate Secretary , entered into a Rule 10b5-1 trading arrangement that provides for the sale of 844 shares of Ashland Common Stock. The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The duration of the trading arrangement is until the earlier of (1) February 29, 2024 , (2) the date on which all transactions under the trading arrangement are completed, or (3) at such time as the trading arrangement is otherwise terminated or expires according to its terms. Ashland Securities Trading Plans During November 2023 , Ashland entered into a Rule 10b5-1 trading arrangement to repurchase Ashland Common Stock under its 2023 Stock Repurchase Program, in the aggregate dollar amount of $100 million. The trading arrangement was intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The trading arrangement terminated in December 2023 , upon the completion of the purchase of 1,238,212 shares of Ashland Common Stock.
Rule 10b5-1 Trading Plan [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted		true
Adoption Date		November 2023
Rule 10b5-1 Arrangement Terminated		true
Termination Date		December 2023
Aggregate Available		1,238,212
Rule 10b5-1 Trading Plan [Member] | Robin E. Lampkin [Member]
Trading Arrangements, by Individual
Name	Robin E. Lampkin
Title	Senior Vice President, General Counsel and Corporate Secretary
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 17, 2023
Rule 10b5-1 Arrangement Terminated	true
Termination Date	February 29, 2024
Aggregate Available	844

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Significant Accounting Policies	NOTE A – SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting ("U.S. GAAP") and Securities and Exchange Commission ("SEC") regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. These statements omit certain information and footnote disclosures required for complete annual financial statements and, therefore, should be read in conjunction with the Ashland Inc. and consolidated subsidiaries ("Ashland" or the "Company") Annual Report on Form 10-K for the fiscal year ended September 30, 2023. Results of operations for the period ended December 31, 2023 are not necessarily indicative of the expected results for the remainder of the fiscal year. Ashland is comprised of the following reportable segments: Life Sciences, Personal Care, Specialty Additives and Intermediates. Unallocated and Other includes corporate governance activities and certain legacy matters. For additional information about Ashland's reportable segments, see Note P. Use of estimates, risks and uncertainties The preparation of Ashland’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. Significant items that are subject to such estimates and assumptions include, but are not limited to, environmental remediation, asbestos litigation, the accounting for goodwill and other indefinite-lived intangible assets and income taxes. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ significantly from the estimates under different assumptions or conditions. Ashland’s results are affected by domestic and international economic, political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies and changes in the prices of certain key raw materials, can have a significant effect on operations. While Ashland maintains reserves for anticipated liabilities and carries various levels of insurance, Ashland could be affected by civil, criminal, regulatory or administrative actions, claims or proceedings relating to asbestos, environmental remediation, income taxes or other matters. New accounting pronouncements A description of new U.S. GAAP accounting standards issued or adopted during the current year is required in interim financial reporting. A detailed listing of new accounting standards relevant to Ashland is included in the Annual Report on Form 10-K for the fiscal year ended September 30, 2023 . There were no new standards that were either issued or adopted in the current fiscal year that will have a material impact on Ashland's Condensed Consolidated Financial Statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	NOTE B – DISCONTINUED OPERATIONS Ashland has divested certain businesses that have qualified as discontinued operations. The operating results from these divested businesses and subsequent adjustments related to ongoing assessments of certain retained liabilities and tax items have been recorded within the discontinued operations caption in the Statements of Consolidated Comprehensive Income (Loss) for all periods presented. The following divested businesses represent disposal groups that qualified as discontinued operations in previous periods and impacted discontinued operations for the three months ended December 31, 2023 and 2022: • The Performance Adhesives business divested in 2022; and • The sale of the Ashland Distribution (Distribution) business divested in 2011. Additionally, Ashland is subject to liabilities from claims alleging personal injury caused by exposure to asbestos. Such claims result primarily from indemnification obligations undertaken in 1990 in connection with the sale of Riley Stoker Corporation, a former subsidiary, which qualified as a discontinued operation and from the acquisition during 2009 of Hercules LLC (formerly Hercules Incorporated), an indirect wholly-owned subsidiary of Ashland. Adjustments to the recorded litigation reserves and related insurance receivables are recorded within the discontinued operations caption. See Note K for more information related to the adjustments on asbestos liabilities and receivables. Components of amounts reflected in the Statements of Consolidated Comprehensive Income (Loss) related to discontinued operations are presented in the following table for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Loss from discontinued operations, net of income taxes Performance Adhesives $ ( 3 ) $ ( 1 ) Asbestos-related litigation 1 — Distribution — ( 1 ) $ ( 2 ) $ ( 2 )

Restructuring Activities

Restructuring Activities	3 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activities	NOTE C – RESTRUCTURING ACTIVITIES Ashland periodically implements restructuring programs related to acquisitions, divestitures and other cost reduction programs in order to enhance profitability through streamlined operations and an improved overall cost structure. Fiscal 2024 and 2023 restructuring costs During fiscal 2023, Ashland implemented targeted organizational restructuring actions to reduce costs. This program continued into fiscal 2024. Severance costs Ashland recorded severance expense of $ 3 million and zero during the three months ended December 31, 2023 and 2022, respectively, within the selling, general and administrative expense caption of the Statements of Consolidated Comprehensive Income (Loss). As of December 31, 2023 and September 30, 2023 , the severance reserve associated with this program was $ 3 million within accrued expenses and other liabilities in the Consolidated Balance Sheets. The following table details at December 31, 2023, the amount of restructuring severance reserves related to this program. (In millions) Severance costs Balance at of September 30, 2023 $ 3 Restructuring reserve 3 Utilization (cash paid) ( 3 ) Balance at December 31, 2023 $ 3 Plant optimization actions During the three months ended December 31, 2023, Ashland incurred $ 21 million of accelerated depreciation for product line optimization activities associated with a Specialty Additives manufacturing facility, which was recorded within the cost of goods sold caption of the Statements of Consolidated Comprehensive Income (Loss). Fiscal 2023 Life Sciences restructuring program During the three months ended December 31, 2022, Ashland implemented a restructuring program within the Nutraceuticals business of the Life Sciences segment. Ashland recorded severance expense of $ 1 million during the three months ended December 31, 2022, within the selling, general and administrative expense caption of the Statements of Consolidated Comprehensive Income (Loss). As of December 31, 2023 and September 30, 2023, the severance reserve associated with this program was zero .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE D – FAIR VALUE MEASUREMENTS Ashland uses applicable guidance for defining fair value, the initial recording and periodic remeasurement of certain assets and liabilities measured at fair value and related disclosures for instruments measured at fair value. Fair value accounting guidance establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). An instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the instrument’s fair value measurement. For assets that are measured using quoted prices in active markets (Level 1), the total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs (Level 2) are primarily valued by reference to quoted prices of similar assets or liabilities in active markets, adjusted for any terms specific to that asset or liability. For all other assets and liabilities for which unobservable inputs are used (Level 3), fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models that Ashland deems reasonable. The following table summarizes financial instruments subject to recurring fair value measurements as of December 31, 2023. Carrying Total Quoted prices Significant Significant (In millions) value value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 440 $ 440 $ 440 $ — $ — Restricted investments (a)(b) 392 392 392 — — Investment of captive insurance company (c) 7 7 7 — — Foreign currency derivatives (d) 1 1 — 1 — Total assets at fair value $ 840 $ 840 $ 839 $ 1 $ — Liabilities Commodity derivatives (e ) 5 5 — 5 — Total liabilities at fair value $ 5 $ 5 $ — $ 5 $ — (a) Included in restricted investments and $ 77 million within other current assets in the Condensed Consolidated Balance Sheets . (b) Includes $ 258 million related to the Asbestos trust and $ 134 million related to the Environmental trust . (c) Included in other noncurrent assets in the Condensed Consolidated Balance Sheets . (d) Included in accounts receivable in the Condensed Consolidated Balance Sheets . (e) Included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets. The following table summarizes financial asset instruments subject to recurring fair value measurements as of September 30, 2023. Carrying Total Quoted prices Significant Significant (In millions) value value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 417 $ 417 $ 417 $ — $ — Restricted investments (a)(b) 367 367 367 — — Investment of captive insurance company (c) 6 6 6 — — Foreign currency derivatives (d) 1 1 — 1 — Total assets at fair value $ 791 $ 791 $ 790 $ 1 $ — Liabilities Foreign currency derivatives (e) $ 1 $ 1 $ — $ 1 $ — Commodity derivatives (e ) 4 4 — 4 — Total liabilities at fair value $ 5 $ 5 $ — $ 5 $ — (a) Included in restricted investments and $ 77 million within other current assets in the Condensed Consolidated Balance Sheets . (b) Includes $ 243 million related to the Asbestos trust and $ 124 million related to the Environmental trust . (c) Included in other noncurrent assets in the Condensed Consolidated Balance Sheets . (d) Included in accounts receivable in the Condensed Consolidated Balance Sheets . (e) Included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets. Restricted investments Ashland maintains certain investments in company restricted renewable annual trusts for the purpose of paying future asbestos indemnity and defense costs and future environmental remediation and related litigation costs. The financial instruments are designated as investment securities, classified as Level 1 measurements within the fair value hierarchy. These securities were classified primarily as noncurrent restricted investment assets, with $ 77 million classified within other current assets, in the Condensed Consolidated Balance Sheets at both December 31, 2023 and September 30, 2023. The following table presents gross unrealized gains and losses for the restricted securities as of December 31, 2023 and September 30, 2023: Gross Gross (In millions) Adjusted Cost Unrealized Gain Unrealized Loss Fair Value As of December 31, 2023 Demand deposit $ 16 $ — $ — $ 16 Equity mutual fund 147 36 — 183 Fixed income mutual fund 226 — ( 33 ) 193 Fair value $ 389 $ 36 $ ( 33 ) $ 392 As of September 30, 2023 Demand deposit $ 12 $ — $ — $ 12 Equity mutual fund 155 24 ( 2 ) 177 Fixed income mutual fund 226 — ( 48 ) 178 Fair value $ 393 $ 24 $ ( 50 ) $ 367 The following table presents the investment income, net gains and losses realized, funds restricted for specific transactions, and disbursements related to the investments within the restricted investments portfolio for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Investment income (a) $ 5 $ 4 Net gains (a) 31 21 Funds restricted for specific transactions 5 5 Disbursements ( 16 ) — (a) Included in the net interest and other income caption within the Statements of Consolidated Comprehensive Income (Loss). Foreign currency derivatives Ashland conducts business in a variety of foreign currencies. Accordingly, Ashland regularly uses foreign currency derivative instruments to manage exposure on certain transactions denominated in foreign currencies to curtail potential earnings volatility effects of certain assets and liabilities, including short-term intercompany loans, denominated in currencies other than Ashland’s functional currency of an entity. These derivative contracts generally require exchange of one foreign currency for another at a fixed rate at a future date and generally have maturities of less than twelve months. All contracts are valued at fair value with net changes in fair value recorded within the selling, general and administrative expense caption. The impacts of these contracts were largely offset by gains and losses resulting from the impact of changes in exchange rates on transactions denominated in non-functional currencies. The following table summarizes the gains and losses recognized during the three months ended December 31, 2023 and 2022 within the Statements of Consolidated Comprehensive Income (Loss). Three months ended December 31 (In millions) 2023 2022 Foreign currency derivative gains $ 3 $ 8 The following table summarizes the fair values of the outstanding foreign currency derivatives as of December 31, 2023 and September 30, 2023 included in accounts receivable and accrued expenses and other liabilities of the Condensed Consolidated Balance Sheets. December 31 September 30 (In millions) 2023 2023 Foreign currency derivative assets $ 1 $ 1 Notional contract values 173 147 Foreign currency derivative liabilities $ — $ 1 Notional contract values 17 103 Commodity derivatives To manage its exposure to the market price volatility of natural gas consumed by its U.S. plants during the manufacturing process, Ashland regularly enters into forward contracts that are designated as cash flow hedges. The following table summarizes the net gai ns and losses recognized during the three months ended December 31, 2023 and 2022 within the cost of sales caption of the Statements of Consolidated Comprehensive Income (Loss). Three months ended December 31 (In millions) 2023 2022 Commodity derivative gains (losses) $ ( 1 ) $ 1 The following table summarizes the fair values of the outstanding commodity derivatives as of December 31, 2023, and September 30, 2023 included in accounts receivable and accrued expenses and other liabilities of the Condensed Consolidated Balance Sheets. December 31 September 30 (In millions) 2023 2023 Commodity derivative assets $ — $ — Notional contract values — 2 Commodity derivative liabilities $ 5 $ 4 Notional contract values 14 16 Other financial instruments At December 31, 2023 and September 30, 2023 , Ashland's long-term debt (including the current portion and excluding debt issuance cost discounts) had a carrying value of $ 1,354 million and $ 1,327 million, respectively, compared to a fair value of $ 1,279 million and $ 1,160 million, respectively. The fair values of long-term debt are based on quoted market prices.

Inventories

Inventories	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	NOTE E – INVENTORIES Inventories are carried at the lower of cost or net realizable value. Inventories are stated at cost using the weighted-average cost method. This method values inventories using average costs for raw materials and most recent production costs for labor and overhead. The following table summarizes Ashland’s inventories as of the reported Condensed Consolidated Balance Sheets dates. December 31 September 30 (In millions) 2023 2023 Finished products $ 376 $ 390 Raw materials, supplies and work in process 212 236 $ 588 $ 626

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	NOTE F – GOODWILL AND OTHER INTANGIBLES Goodwill Ashland tests goodwill and other indefinite-lived intangible assets for impairment annually as of July 1 and when events and circumstances indicate an impairment may have occurred. N o indicators of impairment were identified in the three months ended December 31, 2023 . The following is a progression of goodwill by reportable segment for the three months ended December 31, 2023. Life Personal Specialty (In millions) Sciences Care (a) Additives (a) Intermediates (a) Total Balance at September 30, 2023 $ 819 $ 122 $ 421 $ — $ 1,362 Currency translation 21 2 11 — 34 Balance at December 31, 2023 $ 840 $ 124 $ 432 $ — $ 1,396 (a) As of December 31, 2023 and September 30, 2023 , there were accumulated impairments of $ 356 million, $ 174 million and $ 90 million related to the Personal Care, Specialty Additives and Intermediates reportable segments, respectively. Other intangible assets Intangible assets principally consist of trademarks and trade names, intellectual property and customer and supplier relationships. Intangible assets classified as finite are amortized on a straight-line basis over their estimated useful lives. The cost of trademarks and trade names is amortized principally over 3 to 20 years , intellectual property over 3 to 20 years , and customer and supplier relationships over 10 to 24 years . Ashland annually reviews, as of July 1, indefinite-lived intangible assets for possible impairment or whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. No indicators of impairment were identified in the three months ended December 31, 2023 . Other intangible assets were comprised of the following as of December 31, 2023 and September 30, 2023. December 31, 2023 September 30, 2023 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying (In millions) amount amortization amount amount amortization amount Definite-lived intangibles Trademarks and trade names $ 99 $ ( 44 ) $ 55 $ 97 $ ( 43 ) $ 54 Intellectual property 741 ( 598 ) 143 731 ( 581 ) 150 Customer and supplier relationships 835 ( 436 ) 399 821 ( 417 ) 404 Total definite-lived intangibles 1,675 ( 1,078 ) 597 1,649 ( 1,041 ) 608 Indefinite-lived intangibles Trademarks and trade names 278 — 278 278 — 278 Total intangible assets $ 1,953 $ ( 1,078 ) $ 875 $ 1,927 $ ( 1,041 ) $ 886 Amortization expense recognized on intangible assets was $ 21 million and $ 23 million for the three months ended December 31, 2023 and 2022 , respectively, and is included in the intangibles amortization expense caption of the Statements of Consolidated Comprehensive Income (Loss). Estimated amortization expense for future periods is $ 79 million in 2024 (includes three months actual and nine months estimated), $ 77 million in 2025, $ 75 million in 2026, $ 53 million in 2027 and $ 50 million in 2028. Actual amounts may change from such estimated amounts due to fluctuations in foreign currency exchange rates, additional intangible asset acquisitions and divestitures, potential impairment, accelerated amortization, or other events.

Debt and Other Financing Activi

Debt and Other Financing Activities	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt and Other Financing Activities	NOTE G – DEBT AND OTHER FINANCING ACTIVITIES The following table summarizes Ashland’s current and long-term debt as of the dates reported in the Condensed Consolidated Balance Sheets. (In millions) December 31, 2023 September 30, 2023 3.375 % Senior Notes, due 2031 $ 450 $ 450 2.00 % Senior Notes, due 2028 (Euro 500 million principal) 554 528 6.875 % notes, due 2043 282 282 6.50 % junior subordinated notes, due 2029 64 64 Other (a) ( 9 ) 6 Total debt 1,341 1,330 Short-term debt — 16 Long-term debt (less debt issuance costs) $ 1,341 $ 1,314 (a) Other includes $ 13 million of debt issuance costs as of December 31, 2023 and September 30, 2023 . The current portion of the long-term debt was zero for both December 31, 2023 and September 30, 2023. The scheduled aggregate maturities to 2028 for long-term debt by year (including the current portion and excluding debt issuance costs) are as follows as of December 31, 2023 : zero in the next 3 years, $ 4 million in 2027, and $ 554 million in 2028. Accounts Receivable Facilities and Off-Balance Sheet Arrangements U.S. Accounts Receivable Sales Program Ashland continues to maintain its U.S. Accounts Receivable Sales Program, which was entered into during fiscal 2021. Ashland accounts for the receivables transferred to buyers as sales. Ashland recognizes any gains or losses based on the excess of proceeds received net of buyer’s discounts and fees compared to the carrying value of the assets. Proceeds received, net of buyer’s discounts and fees, are recorded within the operating activities of the Statements of Condensed Consolidated Cash Flows. Losses on sale of assets, including related transaction expenses are recorded within the net interest and other income caption of the Statements of Consolidated Comprehensive Income (Loss). Ashland regularly assesses its servicing obligations and records them as assets or liabilities when appropriate. Ashland also monitors its obligation with regards to the limited guarantee and records the resulting guarantee liability when warranted. When applicable, Ashland discloses the amount of the receivable that serves as over-collateralization as a restricted asset. Ashland recognized a loss of less than $ 1 million within the Statements of Consolidated Comprehensive Income (Loss) for the three months ended December 31, 2023 and 2022 within the net interest and other income caption associated with sales under the program. Ashland has recorded $ 78 million in sales at December 31, 2023 against the buyer’s limit, which was $ 100 million at December 31, 2023 compared to $ 86 million of sales at September 30, 2023 against the buyer's limit, which was $ 115 million at September 30, 2023 . Ashland transferred $ 99 million and $ 106 million in receivables to the special purpose entity as of December 31, 2023 and September 30, 2023, respectively. Ashland recorded liabilities related to its service obligations and limited guarantee as of December 31, 2023 and September 30, 2023 of less than $ 1 million. As of December 31, 2023 and 2022, the year-to-date gross cash proceeds received for receivables transferred and derecognized were $ 85 million and $ 49 million, respectively, of which $ 77 million and $ 68 million were collected, which includes collections from sales in prior years transferred to the buyer. The difference between receivables transferred and derecognized versus collected of $ 8 million and $ 19 million for the periods ended December 31, 2023 and 2022, respectively, represents the impact of a net increase and a net reduction in accounts receivable sales volume during each period, respectively. 2018 Foreign Accounts Receivable Securitization Facility In October 2023, Ashland terminated its 2018 Foreign Accounts Receivable Securitization Facility. The program had no outstanding borrowings at its termination. This program did not meet criteria for sale accounting and was reported as secured borrowing under ASC 860. At September 30, 2023, the outstanding amount of accounts receivable transferred by Ashland to the purchaser was $ 124 million. Foreign Accounts Receivable Sales Program On October 19, 2023, Ashland entered, through an Ireland based, wholly-owned, bankruptcy-remote consolidated special purpose entity (the "SPE"), into a three-year agreement with a group of entities (buyers) to sell certain trade receivables, without recourse beyond the pledged receivables, of certain wholly-owned Ashland subsidiaries (Foreign Accounts Receivable Sales Program s) primarily in Europe. Under the agreement, Ashland can transfer whole receivables up to a limit established by the buyer, which is currently set at € 125 million. Ashland’s continuing involvement is limited to servicing the receivables, including billing, collections and remittance of payments to the buyers as well as a limited guarantee on over-collateralization. Ashland determined that any receivables transferred under this agreement are put presumptively beyond the reach of Ashland and its creditors, even in bankruptcy or other receivership. Ashland received true sale at law and non-consolidation opinions from independent qualified legal advisors in the jurisdiction of each originating subsidiary to support the legal isolation of these receivables. Consequently, Ashland accounts for receivables transferred to buyers as part of this agreement as sales. Through December 31, 2023 , Ashland has sold $ 102 million in receivables under this agreement. Accordingly, Ashland recognized $ 1 million in losses within the net interest and other income caption of the Statements of Consolidated Income (Loss) for the three months ended December 31, 2023 . Ashland recorded $ 102 million in sales and gross proceeds received against the buyer's limit, which was $ 102 million at December 31, 2023 . Ashland transferred $ 147 million in receivables to the SPE as of December 31, 2023 . Ashland recorded less than $ 1 million in liabilities related to its service obligations and limited guarantee as of December 31, 2023. Available borrowing capacity and liquidity The borrowing capacity remaining under the 2022 Credit Agreement was $ 596 million, which reflects the full $ 600 million Revolving Credit Facility less a reduction of $ 4 million for letters of credit outstanding as of December 31, 2023. Ashland's total borrowing capacity at December 31, 2023 was $ 596 million. Ashland had no available liquidity under its current U.S. and Foreign Accounts Receivable Sales Programs as of December 31, 2023. Covenants related to current Ashland debt agreements Ashland's debt contains usual and customary representations, warranties and affirmative and negative covenants, including financial covenants for leverage and interest coverage ratios, limitations on liens, additional subsidiary indebtedness, restrictions on subsidiary distributions, investments, mergers, sale of assets and restricted payments and other customary limitations. As of December 31, 2023, Ashland is in compliance with all debt agreement covenant restrictions. The maximum consolidated net leverage ratio permitted under Ashland's current credit agreement (the 2022 Credit Agreement) is 4.0 . At December 31, 2023 , Ashland’s calculation of the consolidated net leverage ratio was 2.1 . The minimum required consolidated interest coverage ratio under the 2022 Credit Agreement during its entire duration is 3.0 . At December 31, 2023 , Ashland’s calculation of the interest coverage ratio was 7.6 .

Leasing Arrangements

Leasing Arrangements	3 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leasing Arrangements	NOTE H – LEASING ARRANGEMENTS The components of lease cost recognized within the Statements of Consolidated Comprehensive Income (Loss) were as follows: Three months ended December 31 (In millions) Location 2023 2022 Lease cost: Operating lease cost Selling, General & Administrative (a) $ 4 $ 3 Operating lease cost Cost of Sales 3 3 Variable lease cost Selling, General & Administrative 1 1 Variable lease cost Cost of Sales 1 2 Short-term leases Cost of Sales 1 1 Total lease cost $ 10 $ 10 (a) Includes a $ 1 million charge for the impairment of an abandoned right of use office building asset for the three months ended December 31, 2023 . Right-of-use assets exchanged for new operating lease obligations were $ 1 million and $ 2 million for the three months ended December 31, 2023 and 2022, respectively. The following table provides cash paid for amounts included in the measurement of operating lease liabilities: Three months ended December 31 (In millions) 2023 2022 Operating cash flows from operating leases $ 7 $ 7

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE I – INCOME TAXES Current fiscal year Ashland’s effective tax rate in any interim period is subject to adjustments related to discrete items and the mix of domestic and foreign operating results. The overall effective tax rate was a benefit of 600 % for the three months ended December 31, 2023. The current quarter's tax rate was impacted by jurisdictional income mix, as well as net $ 24 million from favorable tax discrete items primarily related to changes in foreign tax reform related activity. Prior fiscal year The overall effective tax rate was 16 % for the three months ended December 31, 2022 . The prior year quarter's tax rate was impacted by jurisdictional income mix, as well as net $ 1 million from favorable tax discrete items. Unrecognized tax benefits Changes in unrecognized tax benefits are summarized as follows for the three months ended December 31, 2023. (In millions) Balance at October 1, 2023 $ 59 Increases related to positions taken in prior years 3 Lapse of statute of limitations ( 1 ) Balance at December 31, 2023 $ 61 From a combination of statute expirations and audit settlements in the next twelve months, Ashland expects a decrease in the amount of accrual for uncertain tax positions of between $ 4 million and $ 5 million for continuing operations. For the remaining balance as of December 31, 2023 , it is reasonably possible that there could be material changes to the amount of uncertain tax positions due to activities of the taxing authorities, settlement of audit issues, reassessment of existing uncertain tax positions or the expiration of applicable statute of limitations; however, Ashland is not able to estimate the impact of these items at this time.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	NOTE J - EMPLOYEE BENEFIT PLANS Plan contributions For the three months ended December 31, 2023 , Ashland contributed $ 4 million to its non-U.S. pension plans and $ 4 million to its U.S. pension plans. Ashland expects to make additional contributions of $ 2 million to its U.S. pension plans and $ 4 million to its non-U.S. pension plans during the remainder of fiscal 2024. Components of net periodic benefit costs (income) The following table details the components of pension and other postretirement benefit costs for continuing operations. Pension benefits Other postretirement (In millions) 2023 2022 2023 2022 Three months ended December 31 Service cost $ 1 $ 1 $ — $ — Interest cost 3 3 1 — Expected return on plan assets ( 2 ) ( 2 ) — — Total net periodic benefit costs $ 2 $ 2 $ 1 $ — For segment reporting purposes, service cost is proportionately allocated to each segment, excluding the Unallocated and other segment, and is recorded within the selling, general and administrative expense and cost of sales captions on the Statements of Consolidated Comprehensive Income (Loss). All other components are recorded within the other net periodic benefit loss caption on the Statements of Consolidated Comprehensive Income (Loss), which netted to expense of $ 2 million and $ 1 million for the three months ended December 31, 2023 and 2022 , respectively.

Litigation, Claims and Continge

Litigation, Claims and Contingencies	3 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Litigation, Claims and Contingencies	NOTE K – LITIGATION, CLAIMS AND CONTINGENCIES Asbestos litigation Ashland is subject to liabilities from claims alleging personal injury caused by exposure to asbestos. Such claims result from indemnification obligations undertaken in 1990 in connection with the sale of Riley Stoker Corporation (Riley) and the acquisition of Hercules in November 2008. Although Riley, a former subsidiary, was neither a producer nor a manufacturer of asbestos, its industrial boilers contained some asbestos-containing components provided by other companies. Hercules, an indirect wholly-owned subsidiary of Ashland, has liabilities from claims alleging personal injury caused by exposure to asbestos. Such claims typically arise from alleged exposure to asbestos fibers from resin encapsulated pipe and tank products sold by one of Hercules’ former subsidiaries to a limited industrial market. To assist in developing and annually updating independent reserve estimates for future asbestos claims and related costs given various assumptions for Ashland and Hercules asbestos claims, Ashland retained third party actuarial experts Gnarus. The methodology used by Gnarus to project future asbestos costs is based largely on recent experience, including claim-filing and settlement rates, disease mix, open claims and litigation defense. The claim experience of Ashland and Hercules are separately compared to the results of previously conducted third party epidemiological studies estimating the number of people likely to develop asbestos-related diseases. Those studies were undertaken in connection with national analyses of the population expected to have been exposed to asbestos. Using that information, Gnarus estimates a range of the number of future claims that may be filed, as well as the related costs that may be incurred in resolving those claims. Changes in asbestos-related liabilities and receivables are recorded on an after-tax basis within the discontinued operations caption in the Statements of Consolidated Comprehensive Income (Loss). Ashland asbestos-related litigation The claims alleging personal injury caused by exposure to asbestos asserted against Ashland result primarily from indemnification obligations undertaken in 1990 in connection with the sale of Riley. The amount and timing of settlements and number of open claims can fluctuate from period to period. A summary of Ashland asbestos claims activity, excluding Hercules claims, follows. Three months ended December 31 Years ended September 30 (In thousands) 2023 2022 2023 2022 2021 Open claims - beginning of year 42 44 44 46 49 New claims filed 1 1 2 2 2 Claims settled — — ( 1 ) ( 1 ) ( 1 ) Claims dismissed ( 1 ) ( 1 ) ( 3 ) ( 3 ) ( 4 ) Open claims - end of period 42 44 42 44 46 Ashland asbestos-related liability From the range of estimates, Ashland records the amount it believes to be the best estimate of future payments for litigation defense and claim settlement costs. Ashland reviews this estimate and related assumptions quarterly and annually updates the results of a non-inflated, non-discounted approximate 40-year model developed with the assistance of Gnarus. During the most recent update completed in fiscal 2023, it was determined that the liability for Ashland asbestos-related claims should be increased by $ 9 million. Total reserves for asbestos claims were $ 271 million at December 31, 2023 compared to $ 281 million at September 30, 2023. A progression of activity in the asbestos reserve is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Asbestos reserve - beginning of year $ 281 $ 305 $ 305 $ 320 $ 335 Reserve adjustment — — 9 16 12 Amounts paid ( 10 ) ( 13 ) ( 33 ) ( 31 ) ( 27 ) Asbestos reserve - end of period (a) $ 271 $ 292 $ 281 $ 305 $ 320 (a) Included $ 28 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023. Ashland asbestos-related receivables Ashland has insurance coverage for certain litigation defense and claim settlement costs incurred in connection with its asbestos claims, and coverage-in-place agreements exist with the insurance companies that provide substantially all of the coverage that will be accessed. For the Ashland asbestos-related obligations, Ashland has estimated the value of probable insurance recoveries associated with its asbestos reserve based on management’s interpretations and estimates surrounding the available or applicable insurance coverage, including an assumption that all solvent insurance carriers remain solvent. Substantially all of the estimated receivables from insurance companies are expected to be due from domestic insurers, all of which are solvent. At December 31, 2023 , Ashland’s receivable for recoveries of litigation defense and claim settlement costs from insurers amounted to $ 93 million (excluding the Hercules receivable for asbestos claims discussed below) compared to $ 95 million at September 30, 2023 . In fiscal 2023, the annual update of the model used for purposes of valuing the asbestos reserve and its impact on valuation of future recoveries from insurers was completed. This model update resulted in a $ 3 million increase in the receivable for probable insurance recoveries. A progression of activity in the Ashland insurance receivable is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Insurance receivable - beginning of year $ 95 $ 101 $ 101 $ 100 $ 103 Receivable adjustment (a) — — 3 7 6 Amounts collected ( 2 ) ( 2 ) ( 9 ) ( 6 ) ( 9 ) Insurance receivable - end of period (b) $ 93 $ 99 $ 95 $ 101 $ 100 (a) 2021 includes a $ 2 million reserve adjustment related to allowances for credit losses as a result of Ashland's adoption of the credit measurement standard. The total allowance for credit losses was $ 1 million as of December 31, 2023 and September 30, 2023. (b) Includes $ 11 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . Hercules asbestos-related litigation Hercules has liabilities from claims alleging personal injury caused by exposure to asbestos. Such claims typically arise from alleged exposure to asbestos fibers from resin encapsulated pipe and tank products which were sold by one of Hercules’ former subsidiaries to a limited industrial market. The amount and timing of settlements and number of open claims can fluctuate from period to period. A summary of Hercules’ asbestos claims activity follows. Three months ended December 31 Years ended September 30 (In thousands) 2023 2022 2023 2022 2021 Open claims - beginning of year 12 11 11 12 12 New claims filed — — 1 1 1 Claims dismissed — — — ( 2 ) ( 1 ) Open claims - end of period 12 11 12 11 12 Hercules asbestos-related liability From the range of estimates, Ashland records the amount it believes to be the best estimate of future payments for litigation defense and claim settlement costs. Ashland reviews this estimate, and related assumptions quarterly and annually updates the results of a non-inflated, non-discounted approximate 40-year model developed with the assistance of Gnarus. During the most recent update completed in fiscal 2023, it was determined that the liability for Hercules asbestos-related claims should be decreased by $ 2 million. Total reserves for asbestos claims were $ 186 million at December 31, 2023 compared to $ 191 million at September 30, 2023. A progression of activity in the asbestos reserve is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Asbestos reserve - beginning of year $ 191 $ 213 $ 213 $ 217 $ 229 Reserve adjustments — — ( 2 ) 15 8 Amounts paid ( 5 ) ( 4 ) ( 20 ) ( 19 ) ( 20 ) Asbestos reserve - end of period (a) $ 186 $ 209 $ 191 $ 213 $ 217 (a) Included $ 17 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . Hercules asbestos-related receivables For the Hercules asbestos-related obligations, certain reimbursement obligations pursuant to coverage-in-place agreements with insurance carriers exist. As a result, any increases in the asbestos reserve have been partially offset by probable insurance recoveries. Ashland has estimated the value of probable insurance recoveries associated with its asbestos reserve based on management’s interpretations and estimates surrounding the available or applicable insurance coverage, including an assumption that all solvent insurance carriers remain solvent. The estimated receivable consists exclusively of solvent domestic insurers. As of December 31, 2023 , Ashland’s receivable for recoveries of litigation defense and claims costs from insurers with respect to Hercules amounted to $ 46 million compared to $ 47 million at September 30, 2023 . In fiscal 2023, the annual update of the model used for purposes of valuing the asbestos reserve and its impact on valuation of future recoveries from insurers was completed. This model update resulted in a decrease of $ 3 million in the receivable for probable insurance recoveries. A progression of activity in the Hercules insurance receivable is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Insurance receivable - beginning of year $ 47 $ 52 $ 52 $ 47 $ 47 Receivable adjustment (a) — — ( 3 ) 7 1 Amounts collected ( 1 ) ( 1 ) ( 2 ) ( 2 ) ( 1 ) Insurance receivable - end of period (b) $ 46 $ 51 $ 47 $ 52 $ 47 (a) 2021 includes a $ 1 million reserve adjustment related to allowances for credit losses as a result of Ashland's adoption of the credit measurement standard. The total allowance for credit losses was $ 1 million as of December 31, 2023 and September 30, 2023 . (b) Includes $ 4 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . Asbestos litigation cost projection Projecting future asbestos costs is subject to numerous variables that are difficult to predict. In addition to the uncertainties surrounding the number of claims that might be received, other variables include the type and severity of the disease alleged by each claimant and the related costs incurred in resolving those claims, mortality rates, dismissal rates, uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case. Furthermore, any predictions with respect to these variables are subject to even greater uncertainty as the projection period lengthens. In light of these inherent uncertainties, Ashland believes that the asbestos reserves for Ashland and Hercules represent the best estimate within a range of possible outcomes. As a part of the process to develop these estimates of future asbestos costs, a range of long-term cost models was developed. These models are based on national studies that predict the number of people likely to develop asbestos-related diseases and are heavily influenced by assumptions regarding long-term inflation rates for indemnity payments and legal defense costs, as well as other variables mentioned previously. Ashland has currently estimated in various models ranging from approximately 40 year periods that it is reasonably possible that total future litigation defense and claim settlement costs on an inflated and undiscounted basis could range as high as approximately $ 422 million for the Ashland asbestos-related litigation (current reserve of $ 271 million) and approximately $ 288 million for the Hercules asbestos-related litigation (current reserve of $ 186 million), depending on the combination of assumptions selected in the various models. While the timeframe used in Ashland’s models for projecting asbestos liabilities generally decreases over time based on the expected lifetime of the liabilities, these models have been consistently applied between all periods presented. If actual experience is worse than projected, relative to the number of claims filed, the severity of alleged disease associated with those claims or costs incurred to resolve those claims, or actuarial refinement or improvements to the assumptions used within these models are initiated, Ashland may need to further increase the estimates of the costs associated with asbestos claims and these increases could be material over time. Environmental remediation and asset retirement obligations Ashland is subject to various federal, state and local environmental laws and regulations that require environmental assessment or remediation efforts (collectively environmental remediation) at multiple locations. At December 31, 2023 , such locations included 55 sites where Ashland has been identified as a potentially responsible party under Superfund or similar state laws, 108 current and former operating facilities and about 1,225 service station properties, of which 14 are being actively remediated. Ashland’s reserves for environmental remediation and related environmental litigation amounted to $ 207 million at December 31, 2023 compared to $ 214 million at September 30, 2023 , of which $ 158 million at December 31, 2023 and $ 165 million at September 30, 2023 were classified in other noncurrent liabilities on the Condensed Consolidated Balance Sheets. The remaining reserves were classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets. The following table provides a reconciliation of the changes in the environmental remediation reserves during the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Reserve - beginning of period $ 214 $ 211 Disbursements ( 11 ) ( 13 ) Revised obligation estimates and accretion 4 8 Reserve - end of period $ 207 $ 206 The total reserves for environmental remediation reflect Ashland’s estimates of the most likely costs that will be incurred over an extended period to remediate identified conditions for which the costs are reasonably estimable, without regard to any third-party recoveries. Engineering studies, historical experience and other factors are used to identify and evaluate remediation alternatives and their related costs in determining the estimated reserves for environmental remediation. Ashland regularly adjusts its reserves as environmental remediation continues. Ashland has estimated the value of its probable insurance recoveries associated with its environmental reserve based on management’s interpretations and estimates surrounding the available or applicable insurance coverage. At December 31, 2023 and September 30, 2023 , Ashland’s recorded receivable for these probable insurance recoveries were $ 16 million and $ 17 million, respectively, of which $ 12 million and $ 15 million at December 31, 2023 and September 30, 2023 were classified in other noncurrent assets on the Condensed Consolidated Balance Sheets. Components of environmental remediation expense included within the selling, general and administrative expense caption of the Statements of Consolidated Comprehensive Income (Loss) are presented in the following table for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Environmental expense $ 4 $ 8 Legal expense 1 1 Total expense 5 9 Insurance receivable ( 1 ) — Total expense, net of receivable activity (a) $ 4 $ 9 (a) Net expense of $ 1 million for the three months ended December 31, 2022 relates to divested businesses which qualified for treatment as discontinued operations for which certain environmental liabilities were retained by Ashland. These amounts are classified within the loss from discontinued operations caption of the Statements of Consolidated Comprehensive Income (Loss). Environmental remediation reserves are subject to uncertainties that affect Ashland’s ability to estimate its share of the costs. Such uncertainties involve the nature and extent of contamination at each site and the extent of required cleanup efforts under existing environmental regulations. Although it is not possible to predict with certainty the ultimate costs of environmental remediation, Ashland currently estimates that the upper end of the reasonably possible range of future costs for identified sites could be as high as approximately $ 455 million. The largest reserve for any site is 22 % of the remediation reserve as of December 31, 2023. Other legal proceedings and claims In addition to the matters described above, there are other various claims, lawsuits and administrative proceedings pending or threatened against Ashland and its current and former subsidiaries. Such actions are with respect to commercial matters, product liability, toxic tort liability, and other environmental matters, which seek remedies or damages, some of which are for substantial amounts. While Ashland cannot predict with certainty the outcome of such actions, it believes that adequate reserves have been recorded and losses already recognized with respect to such actions were immaterial as of December 31, 2023. There is a reasonable possibility that a loss exceeding amounts already recognized may be incurred related to these actions; however, Ashland believes that such potential losses were immaterial as of December 31, 2023 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	NOTE L – EARNINGS PER SHARE The following is the computation of basic and diluted earnings per share ("EPS") from continuing operations attributable to Ashland. Stock appreciation rights and warrants available to purchase shares outstanding for each reporting period whose exercise price was greater than the average market price of Ashland Common Stock for each applicable period were not included in the computation of income from continuing operations per diluted share because the effect of these instruments would be antidilutive . The total number of these shares outstanding was approximately 1 million at December 31, 2023 and 2022 , respectively. The majority of these shares are for warrants with a strike price of $ 128.66 . Earnings per share is reported under the treasury stock method. Three months ended December 31 (In millions, except per share data) 2023 2022 Numerator Numerator for basic and diluted EPS - Income from continuing operations, net of tax $ 28 $ 42 Denominator Denominator for basic EPS - Weighted-average common shares outstanding 51 54 Share based awards convertible to common shares — 1 Denominator for diluted EPS - Adjusted weighted-average shares and assumed conversions 51 55 EPS from continuing operations Basic $ 0.54 $ 0.77 Diluted 0.54 0.76

Equity Items

Equity Items	3 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Equity Items	NOTE M – EQUITY ITEMS 2023 Stock repurchase program On June 28, 2023, Ashland's board of directors authorized a new evergreen $ 1 billion common share repurchase program ("2023 Stock Repurchase Program"). The new authorization terminated and replaced the 2022 Stock Repurchase Program, which had $ 200 million outstanding at the date of termination. As of December 31, 2023, $ 900 million remained available for repurchase under this authorization. Stock repurchase program agreements During November 2023, under the 2023 Stock Repurchase Program, Ashland initiated a Rule 10b5-1 trading plan agreement to repurchase up to $ 100 million of its outstanding shares. The program was completed during December 2023, when Ashland paid a total of $ 100 million and received a delivery of 1.2 million shares of common stock. Stockholder dividends Dividends of 38.5 cents and 33.5 cents per share were paid in the first quarters of fiscal 2024 and 2023, respectively. Accumulated other comprehensive income (loss) Components of other comprehensive income (loss) recorded in the Statements of Consolidated Comprehensive Income (Loss) are presented below, before tax and net of tax effects. 2023 2022 (In millions) Before Tax Net of Before Tax Net of Three months ended December 31 Other comprehensive income (loss) Unrealized translation gain (loss) $ 54 $ — $ 54 $ 83 $ ( 1 ) $ 82 Unrealized gain (loss) on commodity hedges ( 1 ) — ( 1 ) ( 5 ) 1 ( 4 ) Total other comprehensive income $ 53 $ — $ 53 $ 78 $ — $ 78 Summary of stockholders’ equity A reconciliation of changes in stockholders’ equity are as follows: Three months ended December 31 (In millions) 2023 2022 Common stock and paid in capital Balance, beginning of period $ 5 $ 136 Common shares issued under stock incentive and other plans (a) ( 2 ) ( 2 ) Common shares purchased under repurchase program (b)(c) ( 2 ) — Balance, end of period 1 134 Retained earnings Balance, beginning of period 3,595 3,653 Common shares purchased under repurchase program (b)(c) ( 99 ) — Net income 26 40 Regular dividends ( 20 ) ( 18 ) Balance, end of period 3,502 3,675 Accumulated other comprehensive income (loss) Balance, beginning of period ( 503 ) ( 569 ) Unrealized translation gain 54 82 Unrealized loss on commodity hedges ( 1 ) ( 4 ) Balance, end of period ( 450 ) ( 491 ) Total stockholders' equity $ 3,053 $ 3,318 Cash dividends declared per common share $ 0.385 $ 0.335 (a) Common shares issued were 78,349 and 127,577 for the three months ended December 31, 2023 and 2022 , respectively. Includes $ 3 million and $ 9 million associated with stock-based compensation employee withholding taxes for the three months ended December 31, 2023 and 2022 , respectively. (b) Common shares repurchased were 1,238,212 for the three months ended December 31, 2023 . (c) Includes $ 1 million in excise tax on stock repurchases for the three months ended December 31, 2023 . Ashland paid a total of $ 100 million for the three months ended December 31, 2023 for common stock repurchases.

Stock Incentive Plans

Stock Incentive Plans	3 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plans	NOTE N – STOCK INCENTIVE PLANS The components of Ashland’s pre-tax stock-based compensation expense included in continuing operations are as follows: Three months ended December 31 (In millions) 2023 (a) 2022 (b) Nonvested stock awards $ 4 $ 3 Performance share awards ( 3 ) 5 $ 1 $ 8 (a) Included less than $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2023 , and $ 1 million of income related to cash-settled performance units during the three months ended December 31, 2023 . (b) Included $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2022 .

Revenue

Revenue	3 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	NOTE O – REVENUE Disaggregation of revenue Ashland disaggregates its revenue by segment and geographical region as Ashland believes these categories best depict how management reviews the financial performance of its operations. Ashland includes only U.S. and Canada in its North America designation and includes Europe, the Middle East and Africa in its Europe designation. See the following tables for details. See Note P for additional information. Sales by geography Three months ended December 31 (In millions) 2023 2022 Life Sciences North America $ 67 $ 47 Europe 63 74 Asia Pacific 51 60 Latin America & other 19 26 $ 200 $ 207 Three months ended December 31 (In millions) 2023 2022 Personal Care North America $ 40 $ 42 Europe 47 51 Asia Pacific 25 28 Latin America & other 17 17 $ 129 $ 138 Three months ended December 31 (In millions) 2023 2022 Specialty Additives North America $ 42 $ 53 Europe 40 48 Asia Pacific 34 35 Latin America & other 6 7 $ 122 $ 143 Three months ended December 31 (In millions) 2023 2022 Intermediates North America $ 25 $ 34 Europe 4 9 Asia Pacific 3 8 Latin America & other 1 3 $ 33 $ 54 Trade receivables Trade receivables are defined as receivables arising from contracts with customers and are recorded within the accounts receivable caption within the Condensed Consolidated Balance Sheets. Ashland’s trade receivables were $ 161 million and $ 288 million as of December 31, 2023 and September 30, 2023 , respectively. See Note G for additional information on Ashland’s programs to sell certain receivables on a revolving basis to third party banks up to an aggregate purchase limit (U.S and Foreign Accounts Receivable Sales Programs).

Reportable Segment Information

Reportable Segment Information	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Reportable Segment Information	NOTE P – REPORTABLE SEGMENT INFORMATION Ashland determines its reportable segments based on how operations are managed internally for the products and services sold to customers, including how the results are reviewed by the chief operating decision maker, which includes determining resource allocation methodologies used for reportable segments. Operating income and EBITDA are the primary measures of performance that are reviewed by the chief operating decision maker in assessing each reportable segment's financial performance. Ashland does not aggregate operating segments to arrive at these reportable segments. Reportable segment business descriptions Life Sciences is comprised of pharmaceuticals, nutrition, nutraceuticals, agricultural chemicals, diagnostic films (formerly known as advanced materials) and fine chemicals. Pharmaceutical solutions include controlled release polymers, disintegrants, film coatings, solubilizers, and tablet binders. Nutrition solutions include thickeners, stabilizers, emulsifiers and additives for enhancing mouthfeel, controlling moisture migration, reducing oil uptake and controlling color. Nutraceutical solutions include products for weight management, joint comfort, stomach and intestinal health, sports nutrition and general wellness, and provide custom formulation, toll processing and particle engineering solutions. Customers include pharmaceutical, food, beverage, nutraceuticals and supplements manufacturers, hospitals and radiologists and industrial manufacturers. Personal Care is comprised of biofunctionals, microbial protectants (preservatives), skin care, sun care, oral care, hair care and household. These businesses have a broad range of natural, nature-derived, biodegradable, and high-performance ingredients for customer-driven solutions to help protect, renew, moisturize and revitalize skin and hair, and provide solutions for toothpastes, mouth washes and rinses, denture cleaning and care for teeth. Household supplies nature-derived rheology ingredients, biodegradable surface wetting agents, performance encapsulates, and specialty polymers for household, industrial and institutional cleaning products. Customers include formulators at large multinational branded consumer products companies and smaller, independent boutique companies. Specialty Additives is comprised of rheology and performance-enhancing additives serving the architectural coatings, construction, energy, automotive and various industrial markets. Solutions include coatings additives for architectural paints, finishes and lacquers, cement and gypsum based dry mortars, ready-mixed joint compounds, synthetic plasters for commercial and residential construction, and specialty materials for industrial applications. Products include rheology modifiers (cellulosic and associative thickeners), foam control agents, surfactants and wetting agents, pH neutralizers, advanced ceramics used in catalytic converters, and environmental filters, ingredients that aid the manufacturing process of ceramic capacitors, plasma display panels and solar cells, ingredients for textile printing, thermoplastic metals and alloys for welding. Products help improve desired functional outcomes through rheology modification and control, water retention, workability, adhesive strength, binding power, film formation, deposition and suspension and emulsification. Customers include global paint manufacturers, electronics and automotive manufacturers, textile mills, the construction industry, and welders. Intermediates is comprised of the production of 1,4 butanediol (BDO) and related derivatives, including n-methylpyrrolidone. These products are used as chemical intermediates in the production of engineering polymers and polyurethanes, and as specialty process solvents in a wide array of applications including electronics, pharmaceuticals, water filtration membranes and more. BDO is also supplied to Life Sciences, Personal Care, and Specialty Additives for use as a raw material. Unallocated and Other generally includes items such as certain significant company-wide restructuring activities, corporate governance costs and legacy costs or activities that relate to divested businesses that are no longer operated by Ashland. Reportable segment results Results of Ashland’s reportable segments are presented based on its management and internal accounting structure. The structure is specific to Ashland; therefore, the financial results of Ashland’s reportable segments are not necessarily comparable with similar information for other comparable companies. Ashland allocates all significant costs to its reportable segments except for certain significant company-wide restructuring activities, certain corporate governance costs and other costs or activities that relate to former businesses that Ashland no longer operates. The service cost component of pension and other postretirement benefits costs is allocated to each reportable segment on a ratable basis; while the remaining components of pension and other postretirement benefits costs are recorded within the other net periodic benefit loss caption on the Statements of Consolidated Comprehensive Income (Loss). Ashland refines its expense allocation methodologies to the reportable segments from time to time as internal accounting practices are improved, more refined information becomes available and the industry or market changes. Significant revisions to Ashland’s methodologies are adjusted for all segments on a retrospective basis. The following table presents various financial information for each reportable segment for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions - unaudited) 2023 2022 SALES Life Sciences $ 200 $ 207 Personal Care 129 138 Specialty Additives 122 143 Intermediates 33 54 Intersegment sales (a) ( 11 ) ( 17 ) $ 473 $ 525 OPERATING INCOME (LOSS) Life Sciences $ 32 $ 34 Personal Care 2 11 Specialty Additives ( 32 ) 1 Intermediates 7 20 Unallocated and other ( 27 ) ( 29 ) $ ( 18 ) $ 37 DEPRECIATION EXPENSE Life Sciences $ 9 $ 10 Personal Care 9 9 Specialty Additives (b) 35 14 Intermediates 3 3 Unallocated and other — — $ 56 $ 36 AMORTIZATION EXPENSE Life Sciences $ 7 $ 7 Personal Care 11 12 Specialty Additives 3 4 Intermediates — — $ 21 $ 23 EBITDA (c) Life Sciences $ 48 $ 51 Personal Care 22 32 Specialty Additives 6 19 Intermediates 10 23 Unallocated and other ( 27 ) ( 29 ) $ 59 $ 96 December 31 September 30 (In millions - unaudited) 2023 2023 TOTAL ASSETS Life Sciences $ 1,908 $ 1,904 Personal Care 985 1,004 Specialty Additives 1,556 1,580 Intermediates 132 136 Unallocated and other 1,285 1,315 $ 5,866 $ 5,939 (a) Intersegment sales from Intermediates are accounted for at prices that approximate fair value. All other intersegment sales are accounted for at cost. (b) Depreciation includes accelerated depreciation of $ 21 million for Specialty Additives for the three months ended December 31, 2023. (c) Excludes loss from discontinued operations and other net periodic benefit loss. See the Statements of Consolidated Comprehensive Income (Loss) for applicable amounts excluded.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting ("U.S. GAAP") and Securities and Exchange Commission ("SEC") regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. These statements omit certain information and footnote disclosures required for complete annual financial statements and, therefore, should be read in conjunction with the Ashland Inc. and consolidated subsidiaries ("Ashland" or the "Company") Annual Report on Form 10-K for the fiscal year ended September 30, 2023. Results of operations for the period ended December 31, 2023 are not necessarily indicative of the expected results for the remainder of the fiscal year. Ashland is comprised of the following reportable segments: Life Sciences, Personal Care, Specialty Additives and Intermediates. Unallocated and Other includes corporate governance activities and certain legacy matters. For additional information about Ashland's reportable segments, see Note P.
Use of Estimates, Risks and Uncertainties	Use of estimates, risks and uncertainties The preparation of Ashland’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. Significant items that are subject to such estimates and assumptions include, but are not limited to, environmental remediation, asbestos litigation, the accounting for goodwill and other indefinite-lived intangible assets and income taxes. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ significantly from the estimates under different assumptions or conditions. Ashland’s results are affected by domestic and international economic, political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies and changes in the prices of certain key raw materials, can have a significant effect on operations. While Ashland maintains reserves for anticipated liabilities and carries various levels of insurance, Ashland could be affected by civil, criminal, regulatory or administrative actions, claims or proceedings relating to asbestos, environmental remediation, income taxes or other matters.
New Accounting Pronouncements	New accounting pronouncements A description of new U.S. GAAP accounting standards issued or adopted during the current year is required in interim financial reporting. A detailed listing of new accounting standards relevant to Ashland is included in the Annual Report on Form 10-K for the fiscal year ended September 30, 2023 . There were no new standards that were either issued or adopted in the current fiscal year that will have a material impact on Ashland's Condensed Consolidated Financial Statements.
Fair Value of Financial Instruments Policy	For assets that are measured using quoted prices in active markets (Level 1), the total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs (Level 2) are primarily valued by reference to quoted prices of similar assets or liabilities in active markets, adjusted for any terms specific to that asset or liability. For all other assets and liabilities for which unobservable inputs are used (Level 3), fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models that Ashland deems reasonable.
Inventories	Inventories are carried at the lower of cost or net realizable value. Inventories are stated at cost using the weighted-average cost method. This method values inventories using average costs for raw materials and most recent production costs for labor and overhead.
Goodwill and Intangible Assets, Goodwill	Ashland tests goodwill and other indefinite-lived intangible assets for impairment annually as of July 1 and when events and circumstances indicate an impairment may have occurred. N o indicators of impairment were identified in the three months ended December 31, 2023 .
Finite-Lived Intangible Asset	Intangible assets principally consist of trademarks and trade names, intellectual property and customer and supplier relationships. Intangible assets classified as finite are amortized on a straight-line basis over their estimated useful lives. The cost of trademarks and trade names is amortized principally over 3 to 20 years , intellectual property over 3 to 20 years , and customer and supplier relationships over 10 to 24 years .
Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived	Ashland annually reviews, as of July 1, indefinite-lived intangible assets for possible impairment or whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. No indicators of impairment were identified in the three months ended December 31, 2023 .
Commitments and Contingencies Policy	Ashland is subject to liabilities from claims alleging personal injury caused by exposure to asbestos. Such claims result from indemnification obligations undertaken in 1990 in connection with the sale of Riley Stoker Corporation (Riley) and the acquisition of Hercules in November 2008. Although Riley, a former subsidiary, was neither a producer nor a manufacturer of asbestos, its industrial boilers contained some asbestos-containing components provided by other companies. Hercules, an indirect wholly-owned subsidiary of Ashland, has liabilities from claims alleging personal injury caused by exposure to asbestos. Such claims typically arise from alleged exposure to asbestos fibers from resin encapsulated pipe and tank products sold by one of Hercules’ former subsidiaries to a limited industrial market. To assist in developing and annually updating independent reserve estimates for future asbestos claims and related costs given various assumptions for Ashland and Hercules asbestos claims, Ashland retained third party actuarial experts Gnarus. The methodology used by Gnarus to project future asbestos costs is based largely on recent experience, including claim-filing and settlement rates, disease mix, open claims and litigation defense. The claim experience of Ashland and Hercules are separately compared to the results of previously conducted third party epidemiological studies estimating the number of people likely to develop asbestos-related diseases. Those studies were undertaken in connection with national analyses of the population expected to have been exposed to asbestos. Using that information, Gnarus estimates a range of the number of future claims that may be filed, as well as the related costs that may be incurred in resolving those claims. Changes in asbestos-related liabilities and receivables are recorded on an after-tax basis within the discontinued operations caption in the Statements of Consolidated Comprehensive Income (Loss).
Environmental Cost Policy	The total reserves for environmental remediation reflect Ashland’s estimates of the most likely costs that will be incurred over an extended period to remediate identified conditions for which the costs are reasonably estimable, without regard to any third-party recoveries. Engineering studies, historical experience and other factors are used to identify and evaluate remediation alternatives and their related costs in determining the estimated reserves for environmental remediation. Ashland regularly adjusts its reserves as environmental remediation continues. Ashland has estimated the value of its probable insurance recoveries associated with its environmental reserve based on management’s interpretations and estimates surrounding the available or applicable insurance coverage. At December 31, 2023 and September 30, 2023 , Ashland’s recorded receivable for these probable insurance recoveries were $ 16 million and $ 17 million, respectively, of which $ 12 million and $ 15 million at December 31, 2023 and September 30, 2023 were classified in other noncurrent assets on the Condensed Consolidated Balance Sheets.
Earnings Per Share	. The total number of these shares outstanding was approximately 1 million at December 31, 2023 and 2022 , respectively. The majority of these shares are for warrants with a strike price of $ 128.66 . Earnings per share is reported under the treasury stock method.
Segment Reporting	Ashland determines its reportable segments based on how operations are managed internally for the products and services sold to customers, including how the results are reviewed by the chief operating decision maker, which includes determining resource allocation methodologies used for reportable segments. Operating income and EBITDA are the primary measures of performance that are reviewed by the chief operating decision maker in assessing each reportable segment's financial performance. Ashland does not aggregate operating segments to arrive at these reportable segments.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Dec. 31, 2023
Components of Amounts in the Statements of Consolidated Income (Loss) Related To Discontinued Operations	Components of amounts reflected in the Statements of Consolidated Comprehensive Income (Loss) related to discontinued operations are presented in the following table for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Loss from discontinued operations, net of income taxes Performance Adhesives $ ( 3 ) $ ( 1 ) Asbestos-related litigation 1 — Distribution — ( 1 ) $ ( 2 ) $ ( 2 )

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Summary of Amount of Restructuring Reserves Related to Program	The following table details at December 31, 2023, the amount of restructuring severance reserves related to this program. (In millions) Severance costs Balance at of September 30, 2023 $ 3 Restructuring reserve 3 Utilization (cash paid) ( 3 ) Balance at December 31, 2023 $ 3

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2023
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Summary of Financial Instruments Subject to Recurring Fair Value Measurements	The following table summarizes financial instruments subject to recurring fair value measurements as of December 31, 2023. Carrying Total Quoted prices Significant Significant (In millions) value value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 440 $ 440 $ 440 $ — $ — Restricted investments (a)(b) 392 392 392 — — Investment of captive insurance company (c) 7 7 7 — — Foreign currency derivatives (d) 1 1 — 1 — Total assets at fair value $ 840 $ 840 $ 839 $ 1 $ — Liabilities Commodity derivatives (e ) 5 5 — 5 — Total liabilities at fair value $ 5 $ 5 $ — $ 5 $ — (a) Included in restricted investments and $ 77 million within other current assets in the Condensed Consolidated Balance Sheets . (b) Includes $ 258 million related to the Asbestos trust and $ 134 million related to the Environmental trust . (c) Included in other noncurrent assets in the Condensed Consolidated Balance Sheets . (d) Included in accounts receivable in the Condensed Consolidated Balance Sheets . (e) Included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets. The following table summarizes financial asset instruments subject to recurring fair value measurements as of September 30, 2023. Carrying Total Quoted prices Significant Significant (In millions) value value Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 417 $ 417 $ 417 $ — $ — Restricted investments (a)(b) 367 367 367 — — Investment of captive insurance company (c) 6 6 6 — — Foreign currency derivatives (d) 1 1 — 1 — Total assets at fair value $ 791 $ 791 $ 790 $ 1 $ — Liabilities Foreign currency derivatives (e) $ 1 $ 1 $ — $ 1 $ — Commodity derivatives (e ) 4 4 — 4 — Total liabilities at fair value $ 5 $ 5 $ — $ 5 $ — (a) Included in restricted investments and $ 77 million within other current assets in the Condensed Consolidated Balance Sheets . (b) Includes $ 243 million related to the Asbestos trust and $ 124 million related to the Environmental trust . (c) Included in other noncurrent assets in the Condensed Consolidated Balance Sheets . (d) Included in accounts receivable in the Condensed Consolidated Balance Sheets . (e) Included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets.
Summary of Restricted Investment Portfolio	The following table presents gross unrealized gains and losses for the restricted securities as of December 31, 2023 and September 30, 2023: Gross Gross (In millions) Adjusted Cost Unrealized Gain Unrealized Loss Fair Value As of December 31, 2023 Demand deposit $ 16 $ — $ — $ 16 Equity mutual fund 147 36 — 183 Fixed income mutual fund 226 — ( 33 ) 193 Fair value $ 389 $ 36 $ ( 33 ) $ 392 As of September 30, 2023 Demand deposit $ 12 $ — $ — $ 12 Equity mutual fund 155 24 ( 2 ) 177 Fixed income mutual fund 226 — ( 48 ) 178 Fair value $ 393 $ 24 $ ( 50 ) $ 367
Summary of Investment Income, Net Gains and Losses, Funds restricted for Specific Transactions and Disbursements Related to Investments	The following table presents the investment income, net gains and losses realized, funds restricted for specific transactions, and disbursements related to the investments within the restricted investments portfolio for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Investment income (a) $ 5 $ 4 Net gains (a) 31 21 Funds restricted for specific transactions 5 5 Disbursements ( 16 ) — (a) Included in the net interest and other income caption within the Statements of Consolidated Comprehensive Income (Loss).
Summary of Net Gains and Losses on Foreign Currency Derivatives	The following table summarizes the gains and losses recognized during the three months ended December 31, 2023 and 2022 within the Statements of Consolidated Comprehensive Income (Loss). Three months ended December 31 (In millions) 2023 2022 Foreign currency derivative gains $ 3 $ 8
Summary of Fair Values of Outstanding Foreign Currency Derivatives	The following table summarizes the fair values of the outstanding foreign currency derivatives as of December 31, 2023 and September 30, 2023 included in accounts receivable and accrued expenses and other liabilities of the Condensed Consolidated Balance Sheets. December 31 September 30 (In millions) 2023 2023 Foreign currency derivative assets $ 1 $ 1 Notional contract values 173 147 Foreign currency derivative liabilities $ — $ 1 Notional contract values 17 103
Commodity Derivatives [Member]
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Summary of Net Gains and Losses on Derivatives	The following table summarizes the net gai ns and losses recognized during the three months ended December 31, 2023 and 2022 within the cost of sales caption of the Statements of Consolidated Comprehensive Income (Loss). Three months ended December 31 (In millions) 2023 2022 Commodity derivative gains (losses) $ ( 1 ) $ 1
Summary of Fair Values of Outstanding Derivatives	The following table summarizes the fair values of the outstanding commodity derivatives as of December 31, 2023, and September 30, 2023 included in accounts receivable and accrued expenses and other liabilities of the Condensed Consolidated Balance Sheets. December 31 September 30 (In millions) 2023 2023 Commodity derivative assets $ — $ — Notional contract values — 2 Commodity derivative liabilities $ 5 $ 4 Notional contract values 14 16

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	The following table summarizes Ashland’s inventories as of the reported Condensed Consolidated Balance Sheets dates. December 31 September 30 (In millions) 2023 2023 Finished products $ 376 $ 390 Raw materials, supplies and work in process 212 236 $ 588 $ 626

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Reportable Segment	The following is a progression of goodwill by reportable segment for the three months ended December 31, 2023. Life Personal Specialty (In millions) Sciences Care (a) Additives (a) Intermediates (a) Total Balance at September 30, 2023 $ 819 $ 122 $ 421 $ — $ 1,362 Currency translation 21 2 11 — 34 Balance at December 31, 2023 $ 840 $ 124 $ 432 $ — $ 1,396 (a) As of December 31, 2023 and September 30, 2023 , there were accumulated impairments of $ 356 million, $ 174 million and $ 90 million related to the Personal Care, Specialty Additives and Intermediates reportable segments, respectively.
Summary of Intangible Assets	Other intangible assets were comprised of the following as of December 31, 2023 and September 30, 2023. December 31, 2023 September 30, 2023 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying (In millions) amount amortization amount amount amortization amount Definite-lived intangibles Trademarks and trade names $ 99 $ ( 44 ) $ 55 $ 97 $ ( 43 ) $ 54 Intellectual property 741 ( 598 ) 143 731 ( 581 ) 150 Customer and supplier relationships 835 ( 436 ) 399 821 ( 417 ) 404 Total definite-lived intangibles 1,675 ( 1,078 ) 597 1,649 ( 1,041 ) 608 Indefinite-lived intangibles Trademarks and trade names 278 — 278 278 — 278 Total intangible assets $ 1,953 $ ( 1,078 ) $ 875 $ 1,927 $ ( 1,041 ) $ 886

Debt and Other Financing Acti_2

Debt and Other Financing Activities (Tables)	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Summary of Current and Long-term Debt	The following table summarizes Ashland’s current and long-term debt as of the dates reported in the Condensed Consolidated Balance Sheets. (In millions) December 31, 2023 September 30, 2023 3.375 % Senior Notes, due 2031 $ 450 $ 450 2.00 % Senior Notes, due 2028 (Euro 500 million principal) 554 528 6.875 % notes, due 2043 282 282 6.50 % junior subordinated notes, due 2029 64 64 Other (a) ( 9 ) 6 Total debt 1,341 1,330 Short-term debt — 16 Long-term debt (less debt issuance costs) $ 1,341 $ 1,314 (a) Other includes $ 13 million of debt issuance costs as of December 31, 2023 and September 30, 2023 . The current portion of the long-term debt was zero for both December 31, 2023 and September 30, 2023.

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	3 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Components of Lease Cost Recognized	The components of lease cost recognized within the Statements of Consolidated Comprehensive Income (Loss) were as follows: Three months ended December 31 (In millions) Location 2023 2022 Lease cost: Operating lease cost Selling, General & Administrative (a) $ 4 $ 3 Operating lease cost Cost of Sales 3 3 Variable lease cost Selling, General & Administrative 1 1 Variable lease cost Cost of Sales 1 2 Short-term leases Cost of Sales 1 1 Total lease cost $ 10 $ 10 (a) Includes a $ 1 million charge for the impairment of an abandoned right of use office building asset for the three months ended December 31, 2023 .
Schedule of Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	The following table provides cash paid for amounts included in the measurement of operating lease liabilities: Three months ended December 31 (In millions) 2023 2022 Operating cash flows from operating leases $ 7 $ 7

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Summary of Changes in Unrecognized Tax Benefits	Changes in unrecognized tax benefits are summarized as follows for the three months ended December 31, 2023. (In millions) Balance at October 1, 2023 $ 59 Increases related to positions taken in prior years 3 Lapse of statute of limitations ( 1 ) Balance at December 31, 2023 $ 61

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Components of Pension and Other Postretirement Benefit Costs for Continuing Operation	The following table details the components of pension and other postretirement benefit costs for continuing operations. Pension benefits Other postretirement (In millions) 2023 2022 2023 2022 Three months ended December 31 Service cost $ 1 $ 1 $ — $ — Interest cost 3 3 1 — Expected return on plan assets ( 2 ) ( 2 ) — — Total net periodic benefit costs $ 2 $ 2 $ 1 $ —

Litigation, Claims and Contin_2

Litigation, Claims and Contingencies (Tables)	3 Months Ended
	Dec. 31, 2023
Loss Contingencies [Line Items]
Reconciliation of Changes in Environmental Contingencies and Asset Retirement Obligations Reserve	The following table provides a reconciliation of the changes in the environmental remediation reserves during the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Reserve - beginning of period $ 214 $ 211 Disbursements ( 11 ) ( 13 ) Revised obligation estimates and accretion 4 8 Reserve - end of period $ 207 $ 206
Components of Environmental Remediation Expense	Components of environmental remediation expense included within the selling, general and administrative expense caption of the Statements of Consolidated Comprehensive Income (Loss) are presented in the following table for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions) 2023 2022 Environmental expense $ 4 $ 8 Legal expense 1 1 Total expense 5 9 Insurance receivable ( 1 ) — Total expense, net of receivable activity (a) $ 4 $ 9 (a) Net expense of $ 1 million for the three months ended December 31, 2022 relates to divested businesses which qualified for treatment as discontinued operations for which certain environmental liabilities were retained by Ashland. These amounts are classified within the loss from discontinued operations caption of the Statements of Consolidated Comprehensive Income (Loss).
Ashland [Member]
Loss Contingencies [Line Items]
Summary of Asbestos Claims Activity	A summary of Ashland asbestos claims activity, excluding Hercules claims, follows. Three months ended December 31 Years ended September 30 (In thousands) 2023 2022 2023 2022 2021 Open claims - beginning of year 42 44 44 46 49 New claims filed 1 1 2 2 2 Claims settled — — ( 1 ) ( 1 ) ( 1 ) Claims dismissed ( 1 ) ( 1 ) ( 3 ) ( 3 ) ( 4 ) Open claims - end of period 42 44 42 44 46
Progression of Activity in Asbestos Reserve Accounts	A progression of activity in the asbestos reserve is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Asbestos reserve - beginning of year $ 281 $ 305 $ 305 $ 320 $ 335 Reserve adjustment — — 9 16 12 Amounts paid ( 10 ) ( 13 ) ( 33 ) ( 31 ) ( 27 ) Asbestos reserve - end of period (a) $ 271 $ 292 $ 281 $ 305 $ 320 (a) Included $ 28 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023.
Progression of Insurance Receivable	A progression of activity in the Ashland insurance receivable is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Insurance receivable - beginning of year $ 95 $ 101 $ 101 $ 100 $ 103 Receivable adjustment (a) — — 3 7 6 Amounts collected ( 2 ) ( 2 ) ( 9 ) ( 6 ) ( 9 ) Insurance receivable - end of period (b) $ 93 $ 99 $ 95 $ 101 $ 100 (a) 2021 includes a $ 2 million reserve adjustment related to allowances for credit losses as a result of Ashland's adoption of the credit measurement standard. The total allowance for credit losses was $ 1 million as of December 31, 2023 and September 30, 2023. (b) Includes $ 11 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .
Hercules [Member]
Loss Contingencies [Line Items]
Summary of Asbestos Claims Activity	A summary of Hercules’ asbestos claims activity follows. Three months ended December 31 Years ended September 30 (In thousands) 2023 2022 2023 2022 2021 Open claims - beginning of year 12 11 11 12 12 New claims filed — — 1 1 1 Claims dismissed — — — ( 2 ) ( 1 ) Open claims - end of period 12 11 12 11 12
Progression of Activity in Asbestos Reserve Accounts	A progression of activity in the asbestos reserve is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Asbestos reserve - beginning of year $ 191 $ 213 $ 213 $ 217 $ 229 Reserve adjustments — — ( 2 ) 15 8 Amounts paid ( 5 ) ( 4 ) ( 20 ) ( 19 ) ( 20 ) Asbestos reserve - end of period (a) $ 186 $ 209 $ 191 $ 213 $ 217 (a) Included $ 17 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .
Progression of Insurance Receivable	A progression of activity in the Hercules insurance receivable is presented in the following table. Three months ended December 31 Years ended September 30 (In millions) 2023 2022 2023 2022 2021 Insurance receivable - beginning of year $ 47 $ 52 $ 52 $ 47 $ 47 Receivable adjustment (a) — — ( 3 ) 7 1 Amounts collected ( 1 ) ( 1 ) ( 2 ) ( 2 ) ( 1 ) Insurance receivable - end of period (b) $ 46 $ 51 $ 47 $ 52 $ 47 (a) 2021 includes a $ 1 million reserve adjustment related to allowances for credit losses as a result of Ashland's adoption of the credit measurement standard. The total allowance for credit losses was $ 1 million as of December 31, 2023 and September 30, 2023 . (b) Includes $ 4 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Share	The following is the computation of basic and diluted earnings per share ("EPS") from continuing operations attributable to Ashland. Stock appreciation rights and warrants available to purchase shares outstanding for each reporting period whose exercise price was greater than the average market price of Ashland Common Stock for each applicable period were not included in the computation of income from continuing operations per diluted share because the effect of these instruments would be antidilutive . The total number of these shares outstanding was approximately 1 million at December 31, 2023 and 2022 , respectively. The majority of these shares are for warrants with a strike price of $ 128.66 . Earnings per share is reported under the treasury stock method. Three months ended December 31 (In millions, except per share data) 2023 2022 Numerator Numerator for basic and diluted EPS - Income from continuing operations, net of tax $ 28 $ 42 Denominator Denominator for basic EPS - Weighted-average common shares outstanding 51 54 Share based awards convertible to common shares — 1 Denominator for diluted EPS - Adjusted weighted-average shares and assumed conversions 51 55 EPS from continuing operations Basic $ 0.54 $ 0.77 Diluted 0.54 0.76

Equity Items (Tables)

Equity Items (Tables)	3 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	Components of other comprehensive income (loss) recorded in the Statements of Consolidated Comprehensive Income (Loss) are presented below, before tax and net of tax effects. 2023 2022 (In millions) Before Tax Net of Before Tax Net of Three months ended December 31 Other comprehensive income (loss) Unrealized translation gain (loss) $ 54 $ — $ 54 $ 83 $ ( 1 ) $ 82 Unrealized gain (loss) on commodity hedges ( 1 ) — ( 1 ) ( 5 ) 1 ( 4 ) Total other comprehensive income $ 53 $ — $ 53 $ 78 $ — $ 78
Summary of Reconciliation of Changes in Stockholders' Equity	A reconciliation of changes in stockholders’ equity are as follows: Three months ended December 31 (In millions) 2023 2022 Common stock and paid in capital Balance, beginning of period $ 5 $ 136 Common shares issued under stock incentive and other plans (a) ( 2 ) ( 2 ) Common shares purchased under repurchase program (b)(c) ( 2 ) — Balance, end of period 1 134 Retained earnings Balance, beginning of period 3,595 3,653 Common shares purchased under repurchase program (b)(c) ( 99 ) — Net income 26 40 Regular dividends ( 20 ) ( 18 ) Balance, end of period 3,502 3,675 Accumulated other comprehensive income (loss) Balance, beginning of period ( 503 ) ( 569 ) Unrealized translation gain 54 82 Unrealized loss on commodity hedges ( 1 ) ( 4 ) Balance, end of period ( 450 ) ( 491 ) Total stockholders' equity $ 3,053 $ 3,318 Cash dividends declared per common share $ 0.385 $ 0.335 (a) Common shares issued were 78,349 and 127,577 for the three months ended December 31, 2023 and 2022 , respectively. Includes $ 3 million and $ 9 million associated with stock-based compensation employee withholding taxes for the three months ended December 31, 2023 and 2022 , respectively. (b) Common shares repurchased were 1,238,212 for the three months ended December 31, 2023 . (c) Includes $ 1 million in excise tax on stock repurchases for the three months ended December 31, 2023 . Ashland paid a total of $ 100 million for the three months ended December 31, 2023 for common stock repurchases.

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	3 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Components of Pretax Stock-Based Compensation Expense Included in Continuing Operations	The components of Ashland’s pre-tax stock-based compensation expense included in continuing operations are as follows: Three months ended December 31 (In millions) 2023 (a) 2022 (b) Nonvested stock awards $ 4 $ 3 Performance share awards ( 3 ) 5 $ 1 $ 8 (a) Included less than $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2023 , and $ 1 million of income related to cash-settled performance units during the three months ended December 31, 2023 . (b) Included $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2022 .

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Sales by geography Three months ended December 31 (In millions) 2023 2022 Life Sciences North America $ 67 $ 47 Europe 63 74 Asia Pacific 51 60 Latin America & other 19 26 $ 200 $ 207 Three months ended December 31 (In millions) 2023 2022 Personal Care North America $ 40 $ 42 Europe 47 51 Asia Pacific 25 28 Latin America & other 17 17 $ 129 $ 138 Three months ended December 31 (In millions) 2023 2022 Specialty Additives North America $ 42 $ 53 Europe 40 48 Asia Pacific 34 35 Latin America & other 6 7 $ 122 $ 143 Three months ended December 31 (In millions) 2023 2022 Intermediates North America $ 25 $ 34 Europe 4 9 Asia Pacific 3 8 Latin America & other 1 3 $ 33 $ 54 Trade receivables Trade receivables are defined as receivables arising from contracts with customers and are recorded within the accounts receivable caption within the Condensed Consolidated Balance Sheets. Ashland’s trade receivables were $ 161 million and $ 288 million as of December 31, 2023 and September 30, 2023 , respectively. See Note G for additional information on Ashland’s programs to sell certain receivables on a revolving basis to third party banks up to an aggregate purchase limit (U.S and Foreign Accounts Receivable Sales Programs).

Reportable Segment Information

Reportable Segment Information (Tables)	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Summary of Financial Information for Each Reportable Segment	The following table presents various financial information for each reportable segment for the three months ended December 31, 2023 and 2022. Three months ended December 31 (In millions - unaudited) 2023 2022 SALES Life Sciences $ 200 $ 207 Personal Care 129 138 Specialty Additives 122 143 Intermediates 33 54 Intersegment sales (a) ( 11 ) ( 17 ) $ 473 $ 525 OPERATING INCOME (LOSS) Life Sciences $ 32 $ 34 Personal Care 2 11 Specialty Additives ( 32 ) 1 Intermediates 7 20 Unallocated and other ( 27 ) ( 29 ) $ ( 18 ) $ 37 DEPRECIATION EXPENSE Life Sciences $ 9 $ 10 Personal Care 9 9 Specialty Additives (b) 35 14 Intermediates 3 3 Unallocated and other — — $ 56 $ 36 AMORTIZATION EXPENSE Life Sciences $ 7 $ 7 Personal Care 11 12 Specialty Additives 3 4 Intermediates — — $ 21 $ 23 EBITDA (c) Life Sciences $ 48 $ 51 Personal Care 22 32 Specialty Additives 6 19 Intermediates 10 23 Unallocated and other ( 27 ) ( 29 ) $ 59 $ 96 December 31 September 30 (In millions - unaudited) 2023 2023 TOTAL ASSETS Life Sciences $ 1,908 $ 1,904 Personal Care 985 1,004 Specialty Additives 1,556 1,580 Intermediates 132 136 Unallocated and other 1,285 1,315 $ 5,866 $ 5,939 (a) Intersegment sales from Intermediates are accounted for at prices that approximate fair value. All other intersegment sales are accounted for at cost. (b) Depreciation includes accelerated depreciation of $ 21 million for Specialty Additives for the three months ended December 31, 2023. (c) Excludes loss from discontinued operations and other net periodic benefit loss. See the Statements of Consolidated Comprehensive Income (Loss) for applicable amounts excluded.

Divestitures - Additional Infor

Divestitures - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) on acquisitions and divestitures, net	$ (2)	$ 0

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) on acquisitions and divestitures, net	$ (2)	$ 0

Discontinued Operations - Compo

Discontinued Operations - Components of Consolidated Comprehensive Income (Loss) Related to Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations (net of tax)	$ (2)	$ (2)
Performance Adhesives [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations (net of tax)	(3)	(1)
Asbestos [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations (net of tax)	1	0
Distribution [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations (net of tax)	$ 0	$ (1)

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Fiscal 2024 and 2023 Restructuring Severance Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve	$ 3		$ 3
Accelerated depreciation	21
Fiscal 2024 and 2023 Restructuring Severance Costs [Member] | Accrued Expenses and Other Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve	3		3
Fiscal 2024 and 2023 Restructuring Severance Costs [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost And Reserve [Line Items]
Severance income (expenses)	(3)	$ 0
Fiscal 2023 Life Sciences Restructuring Program [Member] | Accrued Expenses and Other Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve	$ 0		$ 0
Fiscal 2023 Life Sciences Restructuring Program [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Cost And Reserve [Line Items]
Severance income (expenses)		$ 1

Restructuring Activities - Summ

Restructuring Activities - Summary of Severance Reserves and Facility Cost Reserves (Details) - Fiscal 2024 and 2023 Restructuring Severance Costs [Member] $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 3
Restructuring reserve	3
Utilization (cash paid)	(3)
Ending balance	$ 3

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Instruments Subject to Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions		Dec. 31, 2023		Sep. 30, 2023
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Assets
Cash and cash equivalents		$ 440		$ 417
Restricted investments		392	[1],[2]	367	[3],[4]
Investment of captive insurance company		7	[5]	6	[6]
Foreign currency derivatives		1	[7]	1	[8]
Total assets at fair value		840		791
Liabilities
Foreign currency derivatives	[9]			1
Total liabilities at fair value		5		5
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Commodity Derivatives [Member]
Liabilities
Commodity derivatives	[10]	$ 5		$ 4
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current		Accrued Liabilities, Current
Estimate of Fair Value, Fair Value Disclosure [Member]
Assets
Cash and cash equivalents		$ 440		$ 417
Restricted investments		392	[1],[2]	367	[3],[4]
Investment of captive insurance company		7	[5]	6	[6]
Foreign currency derivatives		1	[7]	1	[8]
Total assets at fair value		840		791
Liabilities
Foreign currency derivatives	[9]			1
Total liabilities at fair value		5		5
Estimate of Fair Value, Fair Value Disclosure [Member] | Commodity Derivatives [Member]
Liabilities
Commodity derivatives	[10]	$ 5		$ 4
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current		Accrued Liabilities, Current
Fair Value, Inputs, Level 1 [Member]
Assets
Cash and cash equivalents		$ 440		$ 417
Restricted investments		392	[1],[2]	367	[3],[4]
Investment of captive insurance company		7	[5]	6	[6]
Foreign currency derivatives		0	[7]	0	[8]
Total assets at fair value		839		790
Liabilities
Foreign currency derivatives	[9]			0
Total liabilities at fair value		0		0
Fair Value, Inputs, Level 1 [Member] | Commodity Derivatives [Member]
Liabilities
Commodity derivatives	[10]	0		0
Fair Value, Inputs, Level 2 [Member]
Assets
Cash and cash equivalents		0		0
Restricted investments		0	[1],[2]	0	[3],[4]
Investment of captive insurance company		0	[5]	0	[6]
Foreign currency derivatives		1	[7]	1	[8]
Total assets at fair value		1		1
Liabilities
Foreign currency derivatives	[9]			1
Total liabilities at fair value		5		5
Fair Value, Inputs, Level 2 [Member] | Commodity Derivatives [Member]
Liabilities
Commodity derivatives	[10]	5		4
Fair Value, Inputs, Level 3 [Member]
Assets
Cash and cash equivalents		0		0
Restricted investments		0	[1],[2]	0	[3],[4]
Investment of captive insurance company		0	[5]	0	[6]
Foreign currency derivatives		0	[7]	0	[8]
Total assets at fair value		0		0
Liabilities
Foreign currency derivatives	[9]			0
Total liabilities at fair value		0		0
Fair Value, Inputs, Level 3 [Member] | Commodity Derivatives [Member]
Liabilities
Commodity derivatives	[10]	$ 0		$ 0
[1] Included in restricted investments and $ 77 million within other current assets in the Condensed Consolidated Balance Sheets Includes $ 258 million related to the Asbestos trust and $ 134 million related to the Environmental trust Included in restricted investments and $ 77 million within other current assets in the Condensed Consolidated Balance Sheets Includes $ 243 million related to the Asbestos trust and $ 124 million related to the Environmental trust Included in other noncurrent assets in the Condensed Consolidated Balance Sheets Included in other noncurrent assets in the Condensed Consolidated Balance Sheets Included in accounts receivable in the Condensed Consolidated Balance Sheets Included in accounts receivable in the Condensed Consolidated Balance Sheets Included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets. Included in accrued expenses and other liabilities in the Condensed Consolidated Balance Sheets.

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Financial Instruments Subject to Recurring Fair Value Measurements (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, Current	$ 77	$ 77
Asbestos Trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	258	243
Environmental Trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value	$ 134	$ 124

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of Restricted Investment Portfolio (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Restricted Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Adjusted cost	$ 389	$ 393
Gross Unrealized Gain	36	24
Gross Unrealized Loss	(33)	(50)
Fair Value	392	367
Fixed Income Mutual Fund [Member]
Schedule of Available-for-sale Securities [Line Items]
Adjusted cost	226	226
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(33)	(48)
Fair Value	193	178
Equity Mutual Fund [Member]
Schedule of Available-for-sale Securities [Line Items]
Adjusted cost	147	155
Gross Unrealized Gain	36	24
Gross Unrealized Loss	0	(2)
Fair Value	183	177
Demand Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Adjusted cost	16	12
Gross Unrealized Gain	0	0
Gross Unrealized Loss	0	0
Fair Value	$ 16	$ 12

Fair Value Measurements - Sum_4

Fair Value Measurements - Summary of Investment Income, Net Gains and Losses, Funds restricted for Specific Transactions and Disbursements Related to Investments (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Investment income	[1]	$ 5	$ 4
Net gains	[1]	31	21
Funds restricted for specific transactions		5	5
Disbursements		$ (16)	$ 0
[1] Included in the net interest and other income caption within the Statements of Consolidated Comprehensive Income (Loss).

Fair Value Measurements - Sum_5

Fair Value Measurements - Summary of Net Gains and Losses on Foreign Currency Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivative gains	$ 3	$ 8

Fair Value Measurements - Sum_6

Fair Value Measurements - Summary of Fair Values of Outstanding Foreign Currency Derivatives (Details) - Foreign Exchange Contract [Member] - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Accounts Receivable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivative assets	$ 1	$ 1
Notional contract values	173	147
Accrued Expenses and Other Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional contract values	17	103
Foreign currency derivative liabilities	$ 0	$ 1

Fair Value Measurements - Sum_7

Fair Value Measurements - Summary of Net Gains and Losses on Derivatives (Details) - Commodity Derivatives [Member] - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative gains (losses)	$ (1)	$ 1
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Revenue	Cost of Revenue

Fair Value Measurements - Sum_8

Fair Value Measurements - Summary of Fair Values of Outstanding Commodity Derivatives (Details) - Commodity Contract [Member] - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Accounts Receivable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets	$ 0	$ 0
Notional contract values	0	2
Accrued Expenses and Other Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional contract values	14	16
Commodity derivative liabilities	$ 5	$ 4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Restricted Investments, Current	$ 77	$ 77
Long-term debt, carrying value	1,354	1,327
Long-term debt, fair value	$ 1,279	$ 1,160

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Finished products	$ 376	$ 390
Raw materials, supplies and work in process	212	236
Total	$ 588	$ 626

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Summary of Goodwill by Reportable Segment (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,362
Currency translation	34
Balance at end of period	1,396
Life Sciences [Member]
Goodwill [Roll Forward]
Balance at beginning of period	819
Currency translation	21
Balance at end of period	840
Personal Care [Member]
Goodwill [Roll Forward]
Balance at beginning of period	122	[1]
Currency translation	2	[1]
Balance at end of period	124	[1]
Specialty Additives [Member]
Goodwill [Roll Forward]
Balance at beginning of period	421	[1]
Currency translation	11	[1]
Balance at end of period	432	[1]
Intermediates [Member]
Goodwill [Roll Forward]
Balance at beginning of period	0	[1]
Currency translation	0	[1]
Balance at end of period	$ 0	[1]
[1] As of December 31, 2023 and September 30, 2023 , there were accumulated impairments of $ 356 million, $ 174 million and $ 90 million related to the Personal Care, Specialty Additives and Intermediates reportable segments, respectively.

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Summary of Goodwill by Reportable Segment (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Personal Care [Member]
Goodwill [Line Items]
Accumulated impairment	$ 356	$ 356
Specialty Additives [Member]
Goodwill [Line Items]
Accumulated impairment	174	174
Intermediates [Member]
Goodwill [Line Items]
Accumulated impairment	$ 90	$ 90

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Intangibles amortization expense - Note F	$ 21	$ 23
Expected future amortization expense [Abstract]
2024 (includes three months actual and nine months estimated)	79
2025	77
2026	75
2027	53
2028	$ 50
Minimum [Member] | Trademarks and Trade Names [Member]
Intangible Assets, Net [Abstract]
Useful life (in years)	3 years
Minimum [Member] | Intellectual Property [Member]
Intangible Assets, Net [Abstract]
Useful life (in years)	3 years
Minimum [Member] | Customer and Supplier Relationships [Member]
Intangible Assets, Net [Abstract]
Useful life (in years)	10 years
Maximum [Member] | Trademarks and Trade Names [Member]
Intangible Assets, Net [Abstract]
Useful life (in years)	20 years
Maximum [Member] | Intellectual Property [Member]
Intangible Assets, Net [Abstract]
Useful life (in years)	20 years
Maximum [Member] | Customer and Supplier Relationships [Member]
Intangible Assets, Net [Abstract]
Useful life (in years)	24 years

Goodwill and Other Intangible_5

Goodwill and Other Intangibles - Summary of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,675	$ 1,649
Accumulated amortization	(1,078)	(1,041)
Net carrying amount	597	608
Intangible Assets, Net [Abstract]
Gross carrying amount	1,953	1,927
Net carrying amount	875	886
Trademarks and Trade Names [Member]
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	99	97
Accumulated amortization	(44)	(43)
Net carrying amount	55	54
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract]
Indefinite-lived intangible assets	278	278
Intellectual Property [Member]
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	741	731
Accumulated amortization	(598)	(581)
Net carrying amount	143	150
Customer and Supplier Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	835	821
Accumulated amortization	(436)	(417)
Net carrying amount	$ 399	$ 404

Debt and Other Financing Acti_3

Debt and Other Financing Activities - Summary of Current and Long-term Debt (Details) - USD ($) $ in Millions		Dec. 31, 2023	Sep. 30, 2023
Debt Instrument [Line Items]
Carrying value of debt		$ 1,354	$ 1,327
Other	[1]	(9)	6
Total debt		1,341	1,330
Short-term debt		0	16
Long-term debt (less debt issuance costs)		1,341	1,314
3.375% Senior Notes, due 2031 [Member]
Debt Instrument [Line Items]
Carrying value of debt		450	450
2.00% Senior Notes Due 2028 [Member]
Debt Instrument [Line Items]
Carrying value of debt		554	528
6.875% Notes due 2043 [Member]
Debt Instrument [Line Items]
Carrying value of debt		282	282
6.50% Junior Subordinated Notes, Due 2029 [Member]
Debt Instrument [Line Items]
Carrying value of debt		$ 64	$ 64
[1] Other includes $ 13 million of debt issuance costs as of December 31, 2023 and September 30, 2023 . The current portion of the long-term debt was zero for both December 31, 2023 and September 30, 2023.

Debt and Other Financing Acti_4

Debt and Other Financing Activities - Summary of Current and Long-term Debt (Parenthetical) (Details) € in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Sep. 30, 2023 EUR (€)
Debt Instrument [Line Items]
Unamortized debt issuance expense, long-term debt	$ 13	$ 13
Current portion of long-term debt	0	0
Short-Term Debt	$ 0	$ 16
3.375% Senior Notes, due 2031 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.375%	3.375%	3.375%	3.375%
Debt instrument, maturity year	2031	2031
2.00% Senior Notes Due 2028 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2%	2%	2%	2%
Debt instrument, maturity year	2028	2028
Principal amount | €			€ 500	€ 500
6.875% Notes due 2043 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.875%	6.875%	6.875%	6.875%
Debt instrument, maturity year	2043	2043
6.50% Junior Subordinated Notes, Due 2029 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.50%	6.50%	6.50%	6.50%
Debt instrument, maturity year	2029	2029

Debt and Other Financing Acti_5

Debt and Other Financing Activities - Summary of Current and Long-term Debt - Additional Information (Details) $ in Millions	Dec. 31, 2023 USD ($)
Scheduled aggregate debt maturities by fiscal year [Abstract]
Remaining in 2024	$ 0
2025	0
2026	0
2027	4
2028	$ 554

Debt and Other Financing Acti_6

Debt and Other Financing Activities - U.S. Accounts Receivable Sales Program - Additional Information (Details) - U.S. Accounts Receivable Sales Program [Member] - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Disclosure Of Sales Program Of Receivable [Line Items]
Maximum limit of receivables can transfer	$ 100,000,000		$ 115,000,000
Sales against the buyers limit	78,000,000		86,000,000
Amount transferred in receivables	99,000,000		106,000,000
Gross cash proceeds received for receivables transferred and derecognized	85,000,000	$ 49,000,000
Cash proceeds collected	77,000,000	68,000,000
Payments for (proceeds from) new transfers of receivables	8,000,000	19,000,000
Maximum [Member]
Disclosure Of Sales Program Of Receivable [Line Items]
Gain (loss) on sale of receivables	1,000,000	$ 1,000,000
Recorded liabilities related to service obligations and limited guarantee	$ 1,000,000		$ 1,000,000

Debt and Other Financing Acti_7

Debt and Other Financing Activities - 2018 Foreign Accounts Receivable Securitization Facility - Additional Information (Details) $ in Millions	Sep. 30, 2023 USD ($)
2018 Accounts Receivable Securitization [Member]
Debt Instrument [Line Items]
Outstanding amount of receivables sold to affiliate	$ 124

Debt and Other Financing Acti_8

Debt and Other Financing Activities - Foreign Accounts Receivable Sales Program -Additional Information (Details) € in Millions		3 Months Ended		12 Months Ended
	Oct. 19, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)
U.S. Accounts Receivable Sales Program [Member]
Debt Instrument [Line Items]
Maximum limit of receivables can transfer		$ 100,000,000		$ 115,000,000
Amount transferred in receivables		99,000,000		106,000,000
Maximum [Member] | U.S. Accounts Receivable Sales Program [Member]
Debt Instrument [Line Items]
Gain (loss) on sale of receivables		1,000,000	$ 1,000,000
Recorded liabilities related to service obligations and limited guarantee		1,000,000		$ 1,000,000
Ashland [Member]
Debt Instrument [Line Items]
Agreement term to sell trade receivables	3 years
Maximum limit of receivables can transfer | €	€ 125
Receivables sold under agreement		102,000,000
Gain (loss) on sale of receivables		(1,000,000)
Gross proceeds received against buyers limit		102,000,000
Amount transferred in receivables		147,000,000
Ashland [Member] | Maximum [Member]
Debt Instrument [Line Items]
Recorded liabilities related to service obligations and limited guarantee		$ 1,000,000

Debt and Other Financing Acti_9

Debt and Other Financing Activities - Financing Activity and Covenants - Additional Information (Details)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity	$ 596,000,000
Liquidity under accounts receivable sales program	$ 0
Covenant restrictions [Abstract]
Maximum consolidated leverage ratio	4
Consolidated net leverage ratio	2.1
Minimum required consolidated interest coverage ratio	3
Consolidated interest coverage ratio	7.6
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000
Line of credit facility, remaining borrowing capacity	596,000,000
Letters of credit outstanding, amount	$ 4,000,000

Leasing Arrangements - Addition

Leasing Arrangements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Right-of-use assets exchanged for new operating lease obligations	$ 1	$ 2

Leasing Arrangements - Componen

Leasing Arrangements - Components of Lease Cost Recognized (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Lease cost:
Total lease cost		$ 10	$ 10
Selling General and Administrative Expenses [Member]
Lease cost:
Operating lease cost	[1]	4	3
Variable lease cost		1	1
Cost of Sales [Member]
Lease cost:
Operating lease cost		3	3
Variable lease cost		1	2
Short-term leases		$ 1	$ 1
[1] Includes a $ 1 million charge for the impairment of an abandoned right of use office building asset for the three months ended December 31, 2023 .

Leasing Arrangements - Compon_2

Leasing Arrangements - Components of Lease Cost Recognized (Parenthetical) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Leases [Abstract]
Lease termination fee	$ 1

Leasing Arrangements - Schedule

Leasing Arrangements - Schedule of Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 7	$ 7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Minimum [Member]
Income Tax Contingency [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 4
Maximum [Member]
Income Tax Contingency [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 5
Current Fiscal Year [Member]
Income Tax Contingency [Line Items]
Effective tax rate (in hundredths)	600%
Tax reform (benefit) and expense	$ 24
Prior Fiscal Year [Member]
Income Tax Contingency [Line Items]
Effective tax rate (in hundredths)		16%
Tax reform (benefit) and expense		$ 1

Income Taxes - Summary of Chang

Income Taxes - Summary of Changes in Unrecognized Tax Benefits (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Balance at beginning of period	$ 59
Increases related to positions taken in prior years	3
Lapse of statute of limitations	(1)
Balance at end of period	$ 61

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Actual contributions to benefit plans in period	$ 4
Estimated future contributions in current fiscal year	2
Other net periodic benefit (loss) income	(2)	$ (1)
Foreign Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual contributions to benefit plans in period	4
Estimated future contributions in current fiscal year	$ 4

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Components of Pension and Other Postretirement Benefit Costs for Continuing Operation (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1
Interest cost	3	3
Expected return on plan assets	(2)	(2)
Total net periodic benefit costs	2	2
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	1	0
Expected return on plan assets	0	0
Total net periodic benefit costs	$ 1	$ 0

Litigation, Claims and Contin_3

Litigation, Claims and Contingencies - Summary of Asbestos Claims Activity (Details) - Claim Claim in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Ashland [Member]
Asbestos claims [Roll Forward]
Open claims - beginning of year	42	44	44	46	49
New claims filed	1	1	2	2	2
Claims settled	0	0	(1)	(1)	(1)
Claims dismissed	(1)	(1)	(3)	(3)	(4)
Open claims - end of period	42	44	42	44	46
Hercules [Member]
Asbestos claims [Roll Forward]
Open claims - beginning of year	12	11	11	12	12
New claims filed	0	0	1	1	1
Claims dismissed	0	0	0	(2)	(1)
Open claims - end of period	12	11	12	11	12

Litigation, Claims and Contin_4

Litigation, Claims and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2023 USD ($) Facility ServiceStationProperty Site		Dec. 31, 2022 USD ($)		Sep. 30, 2023 USD ($)		Sep. 30, 2022 USD ($)		Sep. 30, 2021 USD ($)		Sep. 30, 2020 USD ($)
Asbestos litigation cost projection [Abstract]
Number of Years Included in Asbestos Assumption	40 years
Environmental Remediation Costs Recognized [Abstract]
Number of sites were company is identified as a potentially responsible party under the superfund or similar state law | Site	55
Number of current and former operating facilities subject to various environmental laws | Facility	108
Total number of service station properties subject to various environmental laws | ServiceStationProperty	1,225
Number of service stations being actively remediated | ServiceStationProperty	14
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Accrual for environmental loss contingencies	$ 207		$ 206		$ 214		$ 211
Accrued environmental loss contingencies, noncurrent	158				165
Recorded third-party environmental recoveries receivable	16				17
Recorded third-party environmental recoveries, noncurrent	12				15
Environmental exit costs, reasonably possible additional loss	$ 455
Maximum reserve for remediation reserve related to any one site (in hundredths)	22%
Ashland [Member]
Asbestos reserve [Roll Forward]
Increase (decrease) in asbestos related reserve	$ 0		0		9		16		$ 12
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable	93	[1]	99	[1]	95	[1]	101	[1]	100	[1]	$ 103
Receivable adjustment	3
Asbestos litigation cost projection [Abstract]
Possible total future litigation defense and claim settlement costs	422
Total reserves for asbestos claims	271	[2]	292	[2]	281	[2]	305	[2]	320	[2]	335
Hercules [Member]
Asbestos reserve [Roll Forward]
Increase (decrease) in asbestos related reserve	0		0		(2)		15		8
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable	46	[3]	51	[3]	47	[3]	52	[3]	47	[3]	47
Receivable adjustment	(3)
Asbestos litigation cost projection [Abstract]
Possible total future litigation defense and claim settlement costs	288
Total reserves for asbestos claims	$ 186	[4]	$ 209	[4]	$ 191	[4]	$ 213	[4]	$ 217	[4]	$ 229
[1] Includes $ 11 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . Included $ 28 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023. Includes $ 4 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . Included $ 17 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .

Litigation, Claims and Contin_5

Litigation, Claims and Contingencies - Schedule of Progression of Activity in the Asbestos Reserve (Details) - USD ($) $ in Millions		3 Months Ended				12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Sep. 30, 2023		Sep. 30, 2022		Sep. 30, 2021
Ashland [Member]
Asbestos reserve [Roll Forward]
Asbestos reserve - beginning of year		$ 281	[1]	$ 305	[1]	$ 305	[1]	$ 320	[1]	$ 335
Reserve adjustment		0		0		9		16		12
Amounts paid		(10)		(13)		(33)		(31)		(27)
Asbestos reserve - end of period	[1]	271		292		281		305		320
Hercules [Member]
Asbestos reserve [Roll Forward]
Asbestos reserve - beginning of year		191	[2]	213	[2]	213	[2]	217	[2]	229
Reserve adjustment		0		0		(2)		15		8
Amounts paid		(5)		(4)		(20)		(19)		(20)
Asbestos reserve - end of period	[2]	$ 186		$ 209		$ 191		$ 213		$ 217
[1] Included $ 28 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023. Included $ 17 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .

Litigation, Claims and Contin_6

Litigation, Claims and Contingencies - Schedule of Progression of Activity in the Asbestos Reserve (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2023		Sep. 30, 2023		Dec. 31, 2022		Sep. 30, 2022		Sep. 30, 2021		Sep. 30, 2020
Ashland [Member]
Asbestos reserve [Roll Forward]
Asbestos reserve	$ 271	[1]	$ 281	[1]	$ 292	[1]	$ 305	[1]	$ 320	[1]	$ 335
Ashland [Member] | Other Current Liabilities [Member]
Asbestos reserve [Roll Forward]
Asbestos reserve	28		28
Hercules [Member]
Asbestos reserve [Roll Forward]
Asbestos reserve	186	[2]	191	[2]	$ 209	[2]	$ 213	[2]	$ 217	[2]	$ 229
Hercules [Member] | Other Current Liabilities [Member]
Asbestos reserve [Roll Forward]
Asbestos reserve	$ 17		$ 17
[1] Included $ 28 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023. Included $ 17 million classified in accrued expenses and other liabilities on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .

Litigation, Claims and Contin_7

Litigation, Claims and Contingencies - Summary of Progression of Insurance Receivable (Details) - USD ($) $ in Millions		3 Months Ended				12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Sep. 30, 2023		Sep. 30, 2022		Sep. 30, 2021
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance settlement		$ 1		$ 0
Ashland [Member]
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable - beginning of year		95	[1]	101	[1]	$ 101	[1]	$ 100	[1]	$ 103
Receivable adjustment	[2]	0		0		3		7		6
Amounts collected		(2)		(2)		(9)		(6)		(9)
Insurance receivable - end of period	[1]	93		99		95		101		100
Hercules [Member]
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable - beginning of year		47	[3]	52	[3]	52	[3]	47	[3]	47
Receivable adjustment	[4]	0		0		(3)		7		1
Amounts collected		(1)		(1)		(2)		(2)		(1)
Insurance receivable - end of period	[3]	$ 46		$ 51		$ 47		$ 52		$ 47
[1] Includes $ 11 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . 2021 includes a $ 2 million reserve adjustment related to allowances for credit losses as a result of Ashland's adoption of the credit measurement standard. The total allowance for credit losses was $ 1 million as of December 31, 2023 and September 30, 2023. Includes $ 4 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . 2021 includes a $ 1 million reserve adjustment related to allowances for credit losses as a result of Ashland's adoption of the credit measurement standard. The total allowance for credit losses was $ 1 million as of December 31, 2023 and September 30, 2023 .

Litigation, Claims and Contin_8

Litigation, Claims and Contingencies - Summary of Progression of Insurance Receivable (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2021		Dec. 31, 2023		Sep. 30, 2023		Dec. 31, 2022		Sep. 30, 2022		Sep. 30, 2020
Ashland [Member]
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable	$ 100	[1]	$ 93	[1]	$ 95	[1]	$ 99	[1]	$ 101	[1]	$ 103
Allowance for credit losses	2
Total allowance for credit losses			1		1
Ashland [Member] | Accounts Receivable [Member]
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable			11		11
Hercules [Member]
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable	47	[2]	46	[2]	47	[2]	$ 51	[2]	$ 52	[2]	$ 47
Allowance for credit losses	$ 1
Total allowance for credit losses			1		1
Hercules [Member] | Accounts Receivable [Member]
Movement in Loss Contingency Receivable, Increase (Decrease) [Roll Forward]
Insurance receivable			$ 4		$ 4
[1] Includes $ 11 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 . Includes $ 4 million classified in accounts receivable on the Condensed Consolidated Balance Sheets as of December 31, 2023 and September 30, 2023 .

Litigation, Claims and Contin_9

Litigation, Claims and Contingencies - Summary of Reconciliation of Changes in Environmental Remediation Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Reserve - beginning of period	$ 214	$ 211
Disbursements	(11)	(13)
Revised obligation estimates and accretion	4	8
Reserve - end of period	$ 207	$ 206

Litigation, Claims and Conti_10

Litigation, Claims and Contingencies - Summary of Components of Environmental Remediation Expense Included within Selling, General and Administrative Expense (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Environmental expense		$ 4	$ 8
Legal expense		1	1
Total expense		$ 5	$ 9
Environmental Remediation Expense, before Recovery, Statement of Income or Comprehensive Income [Extensible Enumeration]		Selling, General and Administrative Expense	Selling, General and Administrative Expense
Insurance receivable		$ (1)	$ 0
Total expense, net of receivable activity	[1]	$ 4	$ 9
[1] Net expense of $ 1 million for the three months ended December 31, 2022 relates to divested businesses which qualified for treatment as discontinued operations for which certain environmental liabilities were retained by Ashland. These amounts are classified within the loss from discontinued operations caption of the Statements of Consolidated Comprehensive Income (Loss).

Litigation, Claims and Conti_11

Litigation, Claims and Contingencies - Summary of Components of Environmental Remediation Expense Included within Selling, General and Administrative Expense (Parenthetical) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Net expense relates to divested businesses	$ 1

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - $ / shares shares in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Shares, Outstanding	1	1
Shares of warrants with a strike price	$ 128.66	$ 128.66

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Numerator
Numerator for basic and diluted EPS - Income from continuing operations, net of tax	$ 28	$ 42
Denominator
Denominator for basic EPS - Weighted-average common shares outstanding	51	54
Share based awards convertible to common shares	0	1
Denominator for diluted EPS - Adjusted weighted-average shares and assumed conversions	51	55
Earnings Per Share from Continuing Operations [Abstract]
Basic	$ 0.54	$ 0.77
Diluted	$ 0.54	$ 0.76

Equity Items - Additional Infor

Equity Items - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2023	Jun. 28, 2023
Accelerated Share Repurchases [Line Items]
Dividend per common share		$ 38.5	$ 33.5
2022 Stock Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Stock repurchase program amount outstanding					$ 200
2023 Stock Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Stock repurchase during period value	$ 100	$ 100
Aggregate amount of common stock to be repurchased				$ 100	$ 1,000
Stock repurchased and retired during period shares	1.2
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 900	$ 900

Equity Items - Components of Ac

Equity Items - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Unrealized translation gain (loss), before tax	$ 54	$ 83
Unrealized translation gain (loss), tax	0	(1)
Unrealized translation gain (loss), net of tax	54	82
Unrealized gain (loss) on commodity hedges, before tax	(1)	(5)
Unrealized gain (loss) on commodity hedges, tax	0	1
Unrealized gain (loss) on commodity hedges, net of tax	(1)	(4)
Total other comprehensive income (loss), before tax	53	78
Total other comprehensive income (loss), tax	0	0
Other comprehensive income - Note M	$ 53	$ 78

Equity Items - Summary of Recon

Equity Items - Summary of Reconciliation of Changes in Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Balance, end of period		$ 3,053	$ 3,318
Cash dividends declared per common share		$ 0.385	$ 0.335
Common Stock and Paid in Capital [Member]
Balance, beginning of period		$ 5	$ 136
Common shares issued under stock incentive and other plans	[1]	(2)	(2)
Common shares purchased under repurchase program	[2],[3]	(2)	0
Balance, end of period		1	134
Retained earnings [Member]
Balance, beginning of period		3,595	3,653
Net income		26	40
Regular dividends		(20)	(18)
Common shares purchased under repurchase program	[2],[3]	(99)	0
Balance, end of period		3,502	3,675
Accumulated other comprehensive income (loss) [Member]
Balance, beginning of period		(503)	(569)
Unrealized translation gain		54	82
Unrealized loss on commodity hedges		(1)	(4)
Balance, end of period		$ (450)	$ (491)
[1] Common shares issued were 78,349 and 127,577 for the three months ended December 31, 2023 and 2022 , respectively. Includes $ 3 million and $ 9 million associated with stock-based compensation employee withholding taxes for the three months ended December 31, 2023 and 2022 , respectively. Common shares repurchased were 1,238,212 for the three months ended December 31, 2023 . Includes $ 1 million in excise tax on stock repurchases for the three months ended December 31, 2023 . Ashland paid a total of $ 100 million for the three months ended December 31, 2023 for common stock repurchases.

Equity Items - Summary of Rec_2

Equity Items - Summary of Reconciliation of Changes in Stockholders' Equity (Parenthetical) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Accelerated Share Repurchases [Line Items]
Common shares issued		78,349	127,577
Stock based compensation employee withholding taxes		$ 3	$ 9
Common shares repurchased		1,238,212
Excise tax on stock repurchases		$ 1
2023 Stock Repurchase Program [Member]
Accelerated Share Repurchases [Line Items]
Stock repurchase during period value	$ 100	$ 100

Stock Incentive Plans - Compone

Stock Incentive Plans - Components of Pre-Tax Stock-Based Compensation Expense Included in Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	[1]	Dec. 31, 2022	[2]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1		$ 8
Nonvested Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	4		3
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ (3)		$ 5
[1] Included less than $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2023 , and $ 1 million of income related to cash-settled performance units during the three months ended December 31, 2023 . Included $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2022 .

Stock Incentive Plans - Compo_2

Stock Incentive Plans - Components of Pre-Tax Stock-Based Compensation Expense Included in Continuing Operations (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023		Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1	[1]	$ 8	[2]
Cash-settled Nonvested Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1		$ 1
Cash-settled Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1
[1] Included less than $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2023 , and $ 1 million of income related to cash-settled performance units during the three months ended December 31, 2023 . Included $ 1 million of expense related to cash-settled nonvested restricted stock awards during the three months ended December 31, 2022 .

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Sales	$ 473	$ 525
Life Sciences [Member]
Disaggregation Of Revenue [Line Items]
Sales	200	207
Life Sciences [Member] | North America [Member]
Disaggregation Of Revenue [Line Items]
Sales	67	47
Life Sciences [Member] | Europe [Member]
Disaggregation Of Revenue [Line Items]
Sales	63	74
Life Sciences [Member] | Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Sales	51	60
Life Sciences [Member] | Latin America & Other [Member]
Disaggregation Of Revenue [Line Items]
Sales	19	26
Personal Care [Member]
Disaggregation Of Revenue [Line Items]
Sales	129	138
Personal Care [Member] | North America [Member]
Disaggregation Of Revenue [Line Items]
Sales	40	42
Personal Care [Member] | Europe [Member]
Disaggregation Of Revenue [Line Items]
Sales	47	51
Personal Care [Member] | Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Sales	25	28
Personal Care [Member] | Latin America & Other [Member]
Disaggregation Of Revenue [Line Items]
Sales	17	17
Specialty Additives [Member]
Disaggregation Of Revenue [Line Items]
Sales	122	143
Specialty Additives [Member] | North America [Member]
Disaggregation Of Revenue [Line Items]
Sales	42	53
Specialty Additives [Member] | Europe [Member]
Disaggregation Of Revenue [Line Items]
Sales	40	48
Specialty Additives [Member] | Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Sales	34	35
Specialty Additives [Member] | Latin America & Other [Member]
Disaggregation Of Revenue [Line Items]
Sales	6	7
Intermediates [Member]
Disaggregation Of Revenue [Line Items]
Sales	33	54
Intermediates [Member] | North America [Member]
Disaggregation Of Revenue [Line Items]
Sales	25	34
Intermediates [Member] | Europe [Member]
Disaggregation Of Revenue [Line Items]
Sales	4	9
Intermediates [Member] | Asia Pacific [Member]
Disaggregation Of Revenue [Line Items]
Sales	3	8
Intermediates [Member] | Latin America & Other [Member]
Disaggregation Of Revenue [Line Items]
Sales	$ 1	$ 3

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Trade Receivable [Member]
Revenue From Contracts With Customers [Line Items]
Trade receivables	$ 161	$ 288

Reportable Segment Informatio_2

Reportable Segment Information - Summary of Financial Information for Each Reportable Segment (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Segment Reporting Information [Line Items]
SALES		$ 473	$ 525
OPERATING INCOME (LOSS)		(18)	37
DEPRECIATION EXPENSE		56	36
AMORTIZATION EXPENSE		21	23
EBITDA	[1]	59	96
TOTAL ASSETS		5,866		$ 5,939
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
SALES	[2]	(11)	(17)
Life Sciences [Member]
Segment Reporting Information [Line Items]
SALES		200	207
OPERATING INCOME (LOSS)		32	34
DEPRECIATION EXPENSE		9	10
AMORTIZATION EXPENSE		7	7
EBITDA	[1]	48	51
TOTAL ASSETS		1,908		1,904
Life Sciences [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
SALES		200	207
Personal Care [Member]
Segment Reporting Information [Line Items]
OPERATING INCOME (LOSS)		2	11
DEPRECIATION EXPENSE		9	9
AMORTIZATION EXPENSE		11	12
EBITDA	[1]	22	32
TOTAL ASSETS		985		1,004
Personal Care [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
SALES		129	138
Specialty Additives [Member]
Segment Reporting Information [Line Items]
SALES		122	143
OPERATING INCOME (LOSS)		(32)	1
DEPRECIATION EXPENSE	[3]	35	14
AMORTIZATION EXPENSE		3	4
EBITDA	[1]	6	19
TOTAL ASSETS		1,556		1,580
Specialty Additives [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
SALES		122	143
Intermediates [Member]
Segment Reporting Information [Line Items]
OPERATING INCOME (LOSS)		7	20
DEPRECIATION EXPENSE		3	3
AMORTIZATION EXPENSE		0	0
EBITDA	[1]	10	23
TOTAL ASSETS		132		136
Intermediates [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
SALES		33	54
Unallocated and Other [Member]
Segment Reporting Information [Line Items]
OPERATING INCOME (LOSS)		(27)	(29)
DEPRECIATION EXPENSE		0	0
EBITDA	[1]	(27)	$ (29)
TOTAL ASSETS		$ 1,285		$ 1,315
[1] Excludes loss from discontinued operations and other net periodic benefit loss. See the Statements of Consolidated Comprehensive Income (Loss) for applicable amounts excluded. Intersegment sales from Intermediates are accounted for at prices that approximate fair value. All other intersegment sales are accounted for at cost. Depreciation includes accelerated depreciation of $ 21 million for Specialty Additives for the three months ended December 31, 2023.

Reportable Segment Informatio_3

Reportable Segment Information - Summary of Financial Information for Each Reportable Segment (Parenthetical) (Details) $ in Millions	3 Months Ended
	Dec. 31, 2023 USD ($)
Specialty Additives [Member]
Segment Reporting Information [Line Items]
Accelerated depreciation	$ 21