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QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Sep. 30, 2019
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 2019 and 2018. 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.
 
 
2019 Fiscal Quarters (Unaudited)
 
First
 
Second
 
Third
 
Fourth
 
2019
 
(In millions, except share related data)
Sales
$
1,038

 
$
1,156

 
$
1,166

 
$
1,028

 
$
4,388

Cost of sales
(897
)
 
(982
)
 
(987
)
 
(882
)
 
(3,748
)
Gross margin
141

 
174

 
179

 
146

 
640

Provision for income taxes
(21
)
 
(27
)
 
(21
)
 
(13
)
 
(82
)
Net income
92

 
74

 
89

 
41

 
296

Net income from continuing operations attributable to Meritor, Inc.
90

 
73

 
85

 
42

 
290

Net income attributable to Meritor, Inc.
90

 
72

 
86

 
43

 
291

Basic earnings per share from continuing operations
$
1.06

 
$
0.88

 
$
1.02

 
$
0.51

 
$
3.49

Diluted earnings per share from continuing operations
$
1.03

 
$
0.85

 
$
0.99

 
$
0.50

 
$
3.36


 
2018 Fiscal Quarters (Unaudited) (1)
 
First
 
Second
 
Third
 
Fourth
 
2018
 
(In millions, except share related data)
Sales
$
903

 
$
1,066

 
$
1,129

 
$
1,080

 
$
4,178

Cost of sales
(771
)
 
(895
)
 
(959
)
 
(928
)
 
(3,553
)
Gross margin
132

 
171

 
170

 
152

 
625

Provision for income taxes
(83
)
 
(22
)
 
(26
)
 
(18
)
 
(149
)
Net income (loss)
(34
)
 
60

 
67

 
33

 
126

Net income (loss) from continuing operations attributable to Meritor, Inc.
(35
)
 
57

 
66

 
32

 
120

Net income (loss) attributable to Meritor, Inc.
(36
)
 
57

 
64

 
32

 
117

Basic earnings (loss) per share from continuing operations
$
(0.40
)
 
$
0.64

 
$
0.76

 
$
0.37

 
$
1.37

Diluted earnings (loss) per share from continuing operations
$
(0.40
)
 
$
0.63

 
$
0.73

 
$
0.36

 
$
1.31


(1)Amounts for the 2018 fiscal quarters have been recast for ASU 2017-07, Compensation Retirement Benefits (Topic 715).