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Financial Information by Segment (Tables)
 9 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Schedule of Performance Segment

The net sales from each of these businesses for the three and nine months ended June 30, 2017 and 2016 were as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(In millions)

 

Specialty Carbons and Formulations

 

$

154

 

 

$

152

 

 

$

454

 

 

$

437

 

Metal Oxides

 

 

75

 

 

 

76

 

 

 

208

 

 

 

214

 

Total Performance Chemicals

 

$

229

 

 

$

228

 

 

$

662

 

 

$

651

 

 
Financial Information by Reportable Segment

Financial information by reportable segment is as follows:

 

 

 

Reinforcement

Materials

 

 

Performance

Chemicals

 

 

Purification

Solutions

 

 

Specialty

Fluids

 

 

Segment

Total

 

 

Unallocated

and Other(1)

 

 

Consolidated

Total

 

 

 

(In millions)

 

Three Months Ended June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers(2)

 

$

367

 

 

$

229

 

 

$

71

 

 

$

12

 

 

$

679

 

 

$

26

 

 

$

705

 

Income (loss) from continuing operations

   before income taxes(3)

 

$

51

 

 

$

46

 

 

$

(2

)

 

$

4

 

 

$

99

 

 

$

(33

)

 

$

66

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers(2)

 

$

270

 

 

$

228

 

 

$

77

 

 

$

19

 

 

$

594

 

 

$

27

 

 

$

621

 

Income (loss) from continuing operations

   before income taxes(3)

 

$

35

 

 

$

59

 

 

$

—

 

 

$

10

 

 

$

104

 

 

$

(30

)

 

$

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers(2)

 

$

1,014

 

 

$

662

 

 

$

207

 

 

$

30

 

 

$

1,913

 

 

$

81

 

 

$

1,994

 

Income (loss) from continuing operations

   before income taxes(3)

 

$

145

 

 

$

146

 

 

$

4

 

 

$

6

 

 

$

301

 

 

$

(84

)

 

$

217

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers(2)

 

$

819

 

 

$

651

 

 

$

210

 

 

$

32

 

 

$

1,712

 

 

$

80

 

 

$

1,792

 

Income (loss) from continuing operations

   before income taxes(3)

 

$

95

 

 

$

167

 

 

$

(7

)

 

$

8

 

 

$

263

 

 

$

(135

)

 

$

128

 

 

(1)

Unallocated and Other includes certain items and eliminations necessary to reflect management’s reporting of operating segment results. These items are reflective of the segment reporting presented to the CODM.

(2)

Consolidated Total Revenues from external customers reconciles to Net sales and other operating revenues on the Consolidated Statement of Operations. Revenues from external customers that are categorized as Unallocated and Other reflects royalties, other operating revenues, external shipping and handling fees, the impact of unearned revenue, the removal of 100% of the sales of an equity method affiliate and discounting charges for certain Notes receivable. Details are provided in the table below:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(In millions)

 

Royalties, the impact of unearned

   revenue, the removal of 100% of

   the sales of an equity method

   affiliate and discounting charges

   for certain notes receivable

 

$

(4

)

 

$

—

 

 

$

(6

)

 

$

—

 

Shipping and handling fees

 

 

30

 

 

 

27

 

 

 

87

 

 

 

80

 

Total

 

$

26

 

 

$

27

 

 

$

81

 

 

$

80

 

 

(3)

Consolidated Total Income (loss) from continuing operations before income taxes reconciles to Income (loss) from continuing operations before income taxes and equity in earnings of affiliated companies on the Consolidated Statement of Operations. Income (loss) from continuing operations before income taxes that are categorized as Unallocated and Other includes:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(In millions)

 

Interest expense

 

$

(13

)

 

$

(13

)

 

$

(39

)

 

$

(40

)

Certain Items:(a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global restructuring activities

 

 

(1

)

 

 

(2

)

 

 

(3

)

 

 

(45

)

Non-recurring gains (losses) on foreign exchange

 

 

(1

)

 

 

—

 

 

 

(1

)

 

 

(11

)

Legal and environmental matters and reserves

 

 

—

 

 

 

(1

)

 

 

2

 

 

 

(4

)

Executive transition costs

 

 

—

 

 

 

(3

)

 

 

—

 

 

 

(3

)

Total certain items, pre-tax

 

 

(2

)

 

 

(6

)

 

 

(2

)

 

 

(63

)

Unallocated corporate costs(b)

 

 

(11

)

 

 

(11

)

 

 

(37

)

 

 

(36

)

General unallocated income (expense)(c)

 

 

(4

)

 

 

1

 

 

 

—

 

 

 

6

 

Less: Equity in earnings of affiliated

   companies, net of tax(d)

 

 

3

 

 

 

1

 

 

 

6

 

 

 

2

 

Total

 

$

(33

)

 

$

(30

)

 

$

(84

)

 

$

(135

)

 

(a)

Certain items are items of expense and income that management does not consider representative of the Company’s fundamental on-going segment results and they are, therefore, excluded from Segment EBIT.

(b)

Unallocated corporate costs are costs that are not controlled by the segments and primarily benefit corporate interests.

(c)

General unallocated income (expense) consists of gains (losses) arising from foreign currency transactions, net of other foreign currency risk management activities, the impact of accounting for certain inventory on a LIFO basis, the profit or loss related to the corporate adjustment for unearned revenue, and the impact of including the full operating results of an equity affiliate in Purification Solutions Segment EBIT.

(d)

Equity in earnings of affiliated companies, net of tax, is included in Segment EBIT and is removed in Unallocated and other to reconcile to Income (loss) from operations before income taxes and equity in earnings from affiliated companies.