SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: September 15, 1995
Date of earliest event reported: September 14, 1995
ASHLAND INC.
(Exact name of registrant as specified in its charter)
Kentucky
(State or other jurisdiction of incorporation)
1-2918 61--0122250
(Commission File Number) (I.R.S. Employer
Identification No.)
1000 Ashland Drive, Russell, Kentucky 41169
(Address of principal executive offices) (Zip Code)
P.O. Box 391, Ashland, Kentucky 41114
(Mailing Address) (Zip Code)
Registrant's telephone number, including area code (606) 329-3333
Total of 6 Pages
Item 5. Other Events
On September 14, 1995, the Registrant issued a press release
announcing that it will adopt a new accounting standard, Financial
Accounting Standards (FAS) Board Statement No. 121, "Accounting For The
Improvement of Long-Lived Assets" which will result in a non-recurring
charge against earnings of approximately $90 million in the September
quarter. The Registrant also announced it will take a charge against
earnings of approximately $40 million in the September quarter for Ashland
Petroleum Company's early retirement program and unrelated reorganization
costs for Valvoline and Arch Mineral. The early retirement program and the
then estimated costs were announced in a Form 8-K filed on May 10, 1995.
Combined, the Registrant will take a one-time pre-tax charge of
approximately $130 million against its fourth quarter earnings. The
after-tax impact is expected to reduce earnings by about $1.25 per share.
The foregoing summary of the attached press release is qualified in
its entirety by the complete text of such document, a copy of which is
attached hereto.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(99) Press Release
-2-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ASHLAND INC.
------------------------------------
(Registrant)
Date: September 15, 1995 /s/ Thomas L. Feazell
------------------------------------
Name: Thomas L. Feazell
Title: Senior Vice President,
General Counsel and Secretary
-3-
Exhibit Index
Exhibit No. Page No.
99 Press Release of the Registrant dated 5
September 14, 1995
-4-