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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities:      
Net income (loss) $ (74) $ 273 $ 162
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation and amortization 149 155 161
Long-lived assets impairment charge (Note F) 162   23
Goodwill impairment charge [1] 92    
Deferred tax provision (benefit) 91 (31) (36)
Gain on sale of land (39)    
Gain on sale of investments (10)    
Equity in net income of affiliated companies (2) (7) (3)
Non-cash compensation 22 16 17
Other non-cash (income) expense 16 (3) 5
Changes in assets and liabilities:      
Accounts and notes receivable (127) (64) 25
Inventories (105) (61) 54
Prepaid expenses and other current assets (27) (14) 1
Accounts payable and accrued liabilities 122 91 (27)
Income taxes payable 7 (2) (4)
Other liabilities 12 (16) 5
Cash dividends received from equity affiliates 9 11 9
Cash provided by operating activities 298 348 392
Cash Flows from Investing Activities:      
Additions to property, plant and equipment (229) (147) (112)
Proceeds from the sale of land 39   16
Change in assets held for rent (3) (6) (8)
Cash paid for acquisition of business, net of cash acquired of $1, $— and $— (64)    
Proceeds from sales of investments 11    
Other   4  
Cash used in investing activities (246) (149) (104)
Cash Flows from Financing Activities:      
Borrowings under financing arrangements   1  
Repayments under financing arrangements (4) (3) (3)
Increase in short-term borrowings, net (4) 2  
Proceeds (repayments) from issuance of commercial paper, net 249   (12)
Proceeds from long-term debt, net of issuance costs 90   248
Repayments of long-term debt (251) (2) (301)
Purchases of common stock (142) (61) (45)
Proceeds from sales of common stock 22 21 10
Cash dividends paid to noncontrolling interests (21) (14) (16)
Cash dividends paid to common stockholders (80) (77) (65)
Cash used in financing activities (141) (133) (184)
Effects of exchange rate changes on cash (16) 14 19
Increase (decrease) in cash and cash equivalents (105) 80 123
Cash and cash equivalents at beginning of year 280 200 77
Cash and cash equivalents at end of year 175 280 200
Income taxes paid 84 69 66
Interest paid $ 47 $ 48 $ 51
[1] Refer to Note F for details on the Purification Solutions goodwill impairment test and the resulting impairment charge recorded in the second fiscal quarter of 2018. Based on the Company’s most recent annual goodwill impairment test performed as of May 31, 2018, the fair values of the Reinforcement Materials, Fumed Metal Oxides, and Specialty Compounds reporting units were substantially in excess of their carrying values.