Exhibit 99.2
ASHLAND INC.
OPERATING AND NET INCOME SUMMARY*
(In millions except per share data - unaudited)
Operating Income Income
------------------------------------------------------------------------------- from
Performance Water Refining & Unallocated Continuing Net
Materials Distribution Valvoline Technologies Marketing and other Total Operations Income
----------- ------------ --------- ------------ ---------- ----------- ------- ---------- -------
FISCAL 2002
Quarter ended 12/31/01 (a) $ 7 $ 5 $ 7 $ 3 $ 45 $ (12) $ 55 $ 12 $ 27
Quarter ended 3/31/02 (b) 9 (7) 12 2 - (10) 6 (18) (21)
Quarter ended 6/30/02 11 (2) 20 3 66 (13) 85 32 65
Quarter ended 9/30/02 8 (12) 17 4 33 (18) 32 1 47
----------- ------------ --------- ------------ ---------- ----------- ------- ---------- -------
Year ended 9/30/02 $ 34 $ (15) $ 56 $ 12 $ 143 $ (52) $ 178 $ 27 $ 117
=========== ============ ========= ============ ========== =========== ======= ========== =======
FISCAL 2003
Quarter ended 12/31/02 $ 4 $ 3 $ 7 $ 1 $ 24 $ (13) $ 26 $ (5) $ (92)
Quarter ended 3/31/03 1 3 14 - 21 (13) 26 (5) (39)
Quarter ended 6/30/03 (4) 9 20 2 100 (13) 114 56 70
Quarter ended 9/30/03 (2) (3) 20 - 118 (16) 117 58 137
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Year ended 9/30/03 $ (1) $ 12 $ 61 $ 3 $ 263 $ (55) $ 283 $ 103 $ 75
=========== ============ ========= ============ ========== =========== ======= ========== =======
FISCAL 2004
Quarter ended 12/31/03 $ 13 $ 9 $ 15 $ 4 $ 26 $ (13) $ 54 $ 16 $ 34
Quarter ended 3/31/04 10 15 20 3 2 (13) 37 5 (16)
Quarter ended 6/30/04 9 17 22 4 205 (15) 242 136 161
Quarter ended 9/30/04 9 14 20 3 151 (5) 192 154 200
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Year ended 9/30/04 $ 42 $ 56 $ 77 $ 14 $ 383 $ (47) $ 525 $ 311 $ 378
=========== ============ ========= ============ ========== =========== ======= ========== =======
FISCAL 2005
Quarter ended 12/31/04 $ 12 $ 20 $ 13 $ 4 $ 136 $ (18) $ 167 $ 85 $ 94
Quarter ended 3/31/05 28 29 17 3 61 (12) 126 58 33
Quarter ended 6/30/05 (c) 33 31 19 2 290 (18) 357 1,733 1,767
Quarter ended 9/30/05 15 19 10 2 - (25) 21 81 111
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Year ended 9/30/05 $ 88 $ 99 $ 59 $ 11 $ 486 $ (72) $ 671 $ 1,958 $2,004
=========== ============ ========= ============ ========== =========== ======= ========== =======
FISCAL 2006
Quarter ended 12/31/05 $ 26 $ 34 $ 1 $ 1 $ - $ (16) $ 46 $ 35 $ 66
Quarter ended 3/31/06 27 30 2 (1) - (9) 49 49 49
Quarter ended 6/30/06 41 30 (10) 9 - (23) 47 42 93
Quarter ended 9/30/06 18 26 (15) 5 - (6) 28 56 200
----------- ------------ --------- ------------ ---------- ----------- ------- ---------- -------
Year ended 9/30/06 $ 112 $ 120 $ (21) $ 14 $ - $ (55) $ 170 $ 183 $ 407
=========== ============ ========= ============ ========== =========== ======= ========== =======
*Quarterly amounts do not necessarily add to annual amounts due to
rounding.
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(a) Includes Ashland's share of a charge ($29 million pretax, $18 million
after tax, $.26 per share) for adjustments to MAP's IMV reserve.
(b) Includes Ashland's share of income ($29 million pretax, $18 million
after tax, $.25 per share) from adjustments to MAP's IMV reserve.
(c) Includes a net gain of $1,536 million, or $20.56 per share, from the
MAP Transaction and the repayment of most of Ashland's debt with the
proceeds.
ASHLAND INC.
OPERATING AND NET INCOME SUMMARY*
(In millions except per share data - unaudited)
Diluted EPS
----------------------------------------
Continuing Net
Operations Income
------------------ ------------------
Quarter YTD Quarter YTD
------- ------- ------- -------
FISCAL 2002
Quarter ended 12/31/01 (a) $ 0.16 $ 0.16 $ 0.38 $ 0.38
Quarter ended 3/31/02 (b) (0.25) (0.09) (0.31) 0.08
Quarter ended 6/30/02 0.45 0.36 0.93 1.00
Quarter ended 9/30/02 0.02 0.38 0.68 1.67
Year ended 9/30/02 - 0.38 - 1.67
FISCAL 2003
Quarter ended 12/31/02 $(0.08) $(0.08) $(1.35) $(1.35)
Quarter ended 3/31/03 (0.08) (0.16) (0.57) (1.91)
Quarter ended 6/30/03 0.82 0.66 1.01 (0.89)
Quarter ended 9/30/03 0.85 1.50 1.99 1.10
Year ended 9/30/03 - 1.50 - 1.10
FISCAL 2004
Quarter ended 12/31/03 $ 0.23 $ 0.23 $ 0.49 $ 0.49
Quarter ended 3/31/04 0.07 0.29 (0.23) 0.25
Quarter ended 6/30/04 1.90 2.21 2.26 2.53
Quarter ended 9/30/04 2.14 4.36 2.76 5.31
Year ended 9/30/04 - 4.36 - 5.31
FISCAL 2005
Quarter ended 12/31/04 $ 1.17 $ 1.17 $ 1.28 $ 1.28
Quarter ended 3/31/05 0.79 1.95 0.44 1.72
Quarter ended 6/30/05 (c) 23.19 25.26 23.65 25.48
Quarter ended 9/30/05 1.08 26.23 1.48 26.85
Year ended 9/30/05 - 26.23 - 26.85
FISCAL 2006
Quarter ended 12/31/05 $ 0.48 $ 0.48 $ 0.91 $ 0.91
Quarter ended 3/31/06 0.68 1.16 0.67 1.57
Quarter ended 6/30/06 0.59 1.75 1.29 2.86
Quarter ended 9/30/06 0.79 2.53 2.82 5.64
Year ended 9/30/06 - 2.53 - 5.64
*Quarterly amounts do not necessarily add to annual amounts due to
rounding.
- -----------
(a) Includes Ashland's share of a charge ($29 million pretax, $18 million
after tax, $.26 per share) for adjustments to MAP's IMV reserve.
(b) Includes Ashland's share of income ($29 million pretax, $18 million
after tax, $.25 per share) from adjustments to MAP's IMV reserve.
(c) Includes a net gain of $1,536 million, or $20.56 per share, from the
MAP Transaction and the repayment of most of Ashland's debt with the
proceeds.