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QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Sep. 30, 2017
Quarterly Financial Information Disclosure [Abstract]  
Summary of Unaudited Quarterly Results
The following is a condensed summary of the company’s unaudited quarterly results of continuing operations for fiscal years 2017 and 2016. Per share amounts are based on the weighted average shares outstanding for that quarter. Earnings per share for the year may not equal the sum of the four fiscal quarters’ earnings per share due to changes in basic and diluted shares outstanding.
 
 
2017 Fiscal Quarters (Unaudited)
 
First
 
Second
 
Third
 
Fourth
 
2017
 
(In millions, except share related data)
Sales
$
699

 
$
806

 
$
920

 
$
922

 
$
3,347

Cost of sales
(610
)
 
(685
)
 
(778
)
 
(790
)
 
(2,863
)
Gross margin
89

 
121

 
142

 
132

 
484

Provision for income taxes
(6
)
 
(13
)
 
(11
)
 
(22
)
 
(52
)
Net income
16

 
23

 
51

 
238

 
328

Net income from continuing operations attributable to Meritor, Inc.
15

 
22

 
49

 
239

 
325

Net income attributable to Meritor, Inc.
15

 
22

 
48

 
239

 
324

Basic earnings per share from continuing operations
$
0.17

 
$
0.25

 
$
0.55

 
$
2.70

 
$
3.69

Diluted earnings per share from continuing operations
$
0.17

 
$
0.24

 
$
0.52

 
$
2.63

 
$
3.60

 
2016 Fiscal Quarters (Unaudited)
 
First
 
Second
 
Third
 
Fourth
 
2016
 
(In millions, except share related data)
Sales
$
809

 
$
821

 
$
841

 
$
728

 
$
3,199

Cost of sales
(705
)
 
(700
)
 
(714
)
 
(644
)
 
(2,763
)
Gross margin
104

 
121

 
127

 
84

 
436

Benefit (provision) for income taxes
(7
)
 
(7
)
 
(8
)
 
446

 
424

Net income
27

 
32

 
42

 
474

 
575

Net income from continuing operations attributable to Meritor, Inc.
28

 
33

 
42

 
474

 
577

Net income attributable to Meritor, Inc.
26

 
32

 
41

 
474

 
573

Basic earnings per share from continuing operations
$
0.30

 
$
0.36

 
$
0.47

 
$
5.47

 
$
6.40

Diluted earnings per share from continuing operations
$
0.30

 
$
0.36

 
$
0.46

 
$
5.34

 
$
6.27