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Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)
 9 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Changes in Each Component of AOCI, Net of Tax

Changes in each component of AOCI, net of tax, were as follows:

 

 

 

Currency

Translation

Adjustment

 

 

Pension and Other

Postretirement

Benefit Liability

Adjustments

 

 

Total

 

 

 

(In millions)

 

Balance at September 30, 2021, attributable to Cabot Corporation

 

$

(265

)

 

$

(24

)

 

$

(289

)

Other comprehensive income (loss) before reclassifications

 

 

(28

)

 

 

1

 

 

 

(27

)

Amounts reclassified from AOCI

 

 

(1

)

 

 

—

 

 

 

(1

)

Less: Other comprehensive income (loss) attributable to

   noncontrolling interests

 

 

2

 

 

 

—

 

 

 

2

 

Balance at December 31, 2021, attributable to Cabot Corporation

 

 

(296

)

 

 

(23

)

 

 

(319

)

Other comprehensive income (loss) before reclassifications

 

 

12

 

 

 

1

 

 

 

13

 

Amounts reclassified from AOCI

 

 

33

 

 

 

—

 

 

 

33

 

Less: Other comprehensive income (loss) attributable to

   noncontrolling interests

 

 

1

 

 

 

—

 

 

 

1

 

Balance at March 31, 2022, attributable to Cabot Corporation

 

$

(252

)

 

$

(22

)

 

$

(274

)

Other comprehensive income (loss) before reclassifications

 

 

(102

)

 

 

(1

)

 

 

(103

)

Amounts reclassified from AOCI

 

 

(1

)

 

 

1

 

 

 

—

 

Less: Other comprehensive income (loss) attributable to

   noncontrolling interests

 

 

(9

)

 

 

—

 

 

 

(9

)

Balance at June 30, 2022, attributable to Cabot Corporation

 

$

(346

)

 

$

(22

)

 

$

(368

)

 
Amounts Reclassified Out of AOCI

The amounts reclassified out of AOCI and into the Consolidated Statements of Operations in each of the three and nine months ended June 30, 2022 and 2021 were as follows:

 

 

 

Affected Line Item in the Consolidated

 

Three Months Ended June 30

 

 

Nine Months Ended June 30

 

 

 

Statements of Operations

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

Derivatives: net investment hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Gains) losses reclassified to interest

   expense

 

Interest expense

 

$

(1

)

 

$

(1

)

 

$

(4

)

 

$

(4

)

(Gains) losses excluded from effectiveness testing and amortized to interest expense

 

Interest expense

 

 

—

 

 

 

—

 

 

 

1

 

 

 

1

 

Release of currency translation adjustment

 

Loss on sale of business and asset impairment charge

 

 

—

 

 

 

—

 

 

 

33

 

 

 

—

 

Pension and other postretirement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Release of actuarial losses and prior service cost (credit)

 

Loss on sale of business and asset impairment charge

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

Amortization of actuarial losses and prior service cost (credit)

 

Net Periodic Benefit Cost

 

 

1

 

 

 

3

 

 

 

1

 

 

 

4

 

Settlement charge

 

Net Periodic Benefit Cost

 

 

—

 

 

 

1

 

 

 

—

 

 

 

7

 

Total before tax

 

 

 

$

—

 

 

$

3

 

 

$

32

 

 

$

8