EX-99.15 16 ex99-15.htm ASHLAND INC. OPERATING SEGMENT TRADE WORKING CAPITAL ex99-15.htm
Exhibit 99.15
(Text of graph posted to Ashland Inc.'s website concerning
Ashland Inc. operating segment trade working capital)
 
 
% of Annualized Sales#
                  
 Monthly Actual (%)                    
 
2007
  
2008
   2009   2010   2011   
January
 
  
17.8
   17.8   14.9   14.6   
February
 
  
17.9
   18.0   14.5   14.9   
March
 
  
17.1
    17.6   13.3   14.9   
April
 
  
16.7
    17.2   13.1   14.7   
May
 
  
16.4
    17.3   12.4   14.0   
June
 
  
16.5
    16.4   13.5   14.6   
July
 
  
16.3
    15.9   13.4   14.8   
August
 
  
15.7
    15.2   12.9   14.5   
September
 
  
14.6
    14.1   12.1      
October
18.5
  
14.3
    14.8   12.4      
November
18.6
   14.7   15.0   12.6      
December
18.4
   16.8   15.2   14.4      
 
NOTE:  Data has been adjusted to exclude Ashland Distribution, preceding its sale in March 2011, and includes the historical Hercules businesses, preceding its purchase in November 2008.
 
 
 
#  Selected Working Capital Components - August 31, 2011
            
                             
Unaudited Data
                            
($ in millions)
      Operating        
Other
            
       segments   (a)    
components
   (b)  
Total
    
Accounts receivable (c)
     1,137           380  
 
    
1,517
    
Inventories (d)
     646           205         851    
(Less) Trade and other payables
      (811 )         (749 )
 
     (1,560 )  
Net
      972           (164 )       808    
                                 
(a) Represents amounts considered in internal performance metrics applicable to most employees.
(b) Amounts relate primarily to items classified within the unallocated and other category, as well as amounts related to the ISP acquisition.  
(c) Accounts receivable is shown net of allowances for doubtful accounts.
(d) Operating segment amount excludes LIFO reserve, which is presented under other components.