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SUPPLEMENTAL GUARANTOR INFORMATION (Tables)
 12 Months Ended
Sep. 30, 2016
Supplemental Guarantor Information [Abstract] [Abstract]  
Condensed Statements of Comprehensive Income
Condensed Statements of Comprehensive Income
 
 
 
 
 
 
 
 
 
Year ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

Sales
$
—

 
$
652

 
$
4,323

 
$
(27
)
 
$
4,948

Cost of sales
—

 
496

 
2,850

 
(25
)
 
3,321

Gross profit
—


156


1,473


(2
)

1,627

 
 
 
 
 
 
 
 
 


Selling, general and administrative expense
—

 
438

 
790

 
—

 
1,228

Research and development expense
—

 
14

 
86

 
—

 
100

Equity and other income (loss)
—

 
(12
)
 
40

 
—

 
28

Operating income (loss)
—


(308
)

637


(2
)

327

 
 
 
 
 
 
 
 
 


Net interest and other financing expense
—

 
157

 
25

 
—

 
182

Net gain (loss) on divestitures
—

 
1

 
(10
)
 
—

 
(9
)
Income (loss) from continuing operations
 
 
 
 
 
 
 
 


before income taxes
—


(464
)

602


(2
)

136

Income tax expense (benefit)
—

 
(35
)
 
168

 
—

 
133

Equity in net income (loss) of subsidiaries
(29
)
 
137

 
—

 
(108
)
 
—

Income (loss) from continuing operations
(29
)

(292
)

434


(110
)

3

Loss from discontinued operations (net of tax)
—

 
(11
)
 
(20
)
 
—

 
(31
)
Net income (loss)
(29
)

(303
)

414


(110
)

(28
)
Net income attributable to noncontrolling interests
—

 
—

 
1

 
—

 
1

Net income (loss) attributable to Ashland
$
(29
)

$
(303
)

$
413


$
(110
)

$
(29
)
 
 
 
 
 
 
 
 
 


Comprehensive income (loss)
(11
)
 
(288
)
 
415

 
(127
)
 
(11
)
Comprehensive income attributable
 
 
 
 
 
 
 
 


to noncontrolling interests
1

 
—

 
—

 
—

 
1

Comprehensive income (loss) attributable to Ashland
$
(12
)

$
(288
)

$
415


$
(127
)

$
(12
)


Condensed Statements of Comprehensive Income
 
 
 
 
 
 
 
 
 
Year ended September 30, 2015
 
 
 
 
 
 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

Sales
$
—

 
$
760

 
$
4,666

 
$
(39
)
 
$
5,387

Cost of sales
—

 
658

 
3,193

 
(37
)
 
3,814

Gross profit
—


102


1,473


(2
)

1,573

 
 
 
 
 
 
 
 
 


Selling, general and administrative expense
—

 
292

 
736

 
—

 
1,028

Research and development expense
—

 
15

 
95

 
—

 
110

Equity and other income (loss)
—

 
(6
)
 
29

 
—

 
23

Operating income (loss)
—

 
(211
)
 
671

 
(2
)
 
458

 
 
 
 
 
 
 
 
 


Net interest and other financing expense
—

 
155

 
19

 
—

 
174

Net loss on divestitures
—

 
(4
)
 
(111
)
 
—

 
(115
)
Income (loss) from continuing operations
 
 
 
 
 
 
 
 


before income taxes
—

 
(370
)
 
541

 
(2
)
 
169

Income tax expense (benefit)
—

 
(131
)
 
109

 
—

 
(22
)
Equity in net income (loss) of subsidiaries
309

 
180

 
—

 
(489
)
 
—

Income (loss) from continuing operations
309

 
(59
)
 
432

 
(491
)
 
191

Income (loss) from discontinued operations (net of tax)
—

 
171

 
(53
)
 
—

 
118

Net income (loss)
$
309

 
$
112

 
$
379

 
$
(491
)
 
$
309

 
 
 
 
 
 
 
 
 


Comprehensive income (loss)
$
(89
)
 
$
113

 
$
(20
)
 
$
(93
)
 
$
(89
)

Condensed Statements of Comprehensive Income
 
 
 
 
 
 
 
 
 
Year ended September 30, 2014
 
 
 
 
 
 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

Sales
$
—

 
$
1,038

 
$
5,145

 
$
(62
)
 
$
6,121

Cost of sales
—

 
948

 
3,716

 
(59
)
 
4,605

Gross profit
—


90


1,429


(3
)
 
1,516

 
 
 
 
 
 
 
 
 


Selling, general and administrative expense
—

 
564

 
794

 
—

 
1,358

Research and development expense
—

 
17

 
97

 
—

 
114

Equity and other income (loss)
—

 
9

 
(7
)
 
—

 
2

Operating income (loss)
—

 
(482
)
 
531

 
(3
)
 
46

 
 
 
 
 
 
 
 
 


Net interest and other financing expense
—

 
139

 
27

 
—

 
166

Net gain on divestitures
—

 
3

 
1

 
—

 
4

Income (loss) from continuing operations
 
 
 
 
 
 
 
 


before income taxes
—

 
(618
)
 
505

 
(3
)
 
(116
)
Income tax benefit
—

 
(169
)
 
(19
)
 
—

 
(188
)
Equity in net income (loss) of subsidiaries
233

 
406

 
—

 
(639
)
 
—

Income (loss) from continuing operations
233

 
(43
)
 
524

 
(642
)
 
72

Income from discontinued operations (net of tax)
—

 
103

 
58

 
—

 
161

Net income (loss)
$
233

 
$
60

 
$
582

 
$
(642
)
 
$
233

 
 
 
 
 
 
 
 
 


Comprehensive income (loss)
$
52

 
$
46

 
$
415

 
$
(461
)
 
$
52
Condensed Balance Sheets
Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
At September 30, 2016
 
 
 
 
 
 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

ASSETS
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
76

 
$
1,112

 
$
—

 
$
1,188

Accounts receivable 
—

 
18

 
876

 
—

 
894

Inventories
—

 
42

 
629

 
—

 
671

Other assets
7

 
16

 
98

 
(8
)
 
113

Total current assets
7


152


2,715


(8
)

2,866

Noncurrent assets
 

 
 

 
 

 
 

 


Property, plant and equipment, net
—

 
246

 
1,978

 
—

 
2,224

Goodwill
—

 
141

 
2,260

 
—

 
2,401

Intangibles
—

 
35

 
1,029

 
—

 
1,064

Restricted investments
—

 
—

 
292

 
—

 
292

Asbestos insurance receivable
—

 
133

 
63

 
—

 
196

Equity and other unconsolidated investments
—

 
2

 
55

 
—

 
57

Investment in subsidiaries
3,127

 
7,597

 
—

 
(10,724
)
 
—

Deferred income taxes
31

 
97

 
146

 
(97
)
 
177

Intercompany receivables
—

 
5

 
2,264

 
(2,269
)
 
—

Other assets
—

 
253

 
167

 
—

 
420

Total noncurrent assets
3,158


8,509


8,254


(13,090
)

6,831

Total assets
$
3,165


$
8,661


$
10,969


$
(13,098
)

$
9,697

LIABILITIES AND EQUITY
 

 
 

 
 

 
 

 


Current liabilities
 

 
 

 
 

 
 

 


Short-term debt
$
—

 
$
—

 
$
170

 
$
—

 
$
170

Current portion of long-term debt
—

 
—

 
19

 
—

 
19

Accounts payable and other accrued liabilities
—

 
244

 
791

 
(8
)
 
1,027

Total current liabilities
—


244


980


(8
)

1,216

Noncurrent liabilities
 
 
 

 
 

 
 

 


Long-term debt
—

 
2,182

 
873

 
—

 
3,055

Employee benefit obligations
—

 
44

 
1,036

 
—

 
1,080

Asbestos litigation reserve
—

 
381

 
305

 
—

 
686

Deferred income taxes
—

 
—

 
166

 
(97
)
 
69

Intercompany payables
—

 
2,264

 
5

 
(2,269
)
 
—

Other liabilities
—

 
220

 
206

 
—

 
426

Total noncurrent liabilities
—


5,091


2,591


(2,366
)

5,316

Equity
 
 
 
 
 
 
 
 


Total stockholders’ equity
3,165

 
3,326

 
7,580

 
(10,724
)
 
3,347

Noncontrolling interests
—

 
—

 
(182
)
 
—

 
(182
)
Total equity
3,165


3,326


7,398


(10,724
)

3,165

Total liabilities and equity
$
3,165


$
8,661


$
10,969


$
(13,098
)

$
9,697


Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
At September 30, 2015
 
 
 
 
 
 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

ASSETS
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
21

 
$
1,236

 
$
—

 
$
1,257

Accounts receivable 
—

 
41

 
920

 
—

 
961

Inventories
—

 
42

 
664

 
—

 
706

Other assets
—

 
220

 
161

 
(212
)
 
169

Total current assets
—

 
324

 
2,981

 
(212
)
 
3,093

Noncurrent assets
 

 
 

 
 

 
 

 
 
Property, plant and equipment, net
—

 
249

 
1,933

 
—

 
2,182

Goodwill
—

 
305

 
2,181

 
—

 
2,486

Intangibles
—

 
38

 
1,104

 
—

 
1,142

Restricted investments
—

 
—

 
285

 
—

 
285

Asbestos insurance receivable
—

 
125

 
55

 
—

 
180

Equity and other unconsolidated investments
—

 
3

 
62

 
—

 
65

Investment in subsidiaries
3,037

 
7,367

 
—

 
(10,404
)
 
—

Deferred income taxes
—

 
533

 
212

 
(533
)
 
212

Intercompany receivables
—

 
11

 
1,621

 
(1,632
)
 
—

Other assets
—

 
214

 
195

 
—

 
409

Total noncurrent assets
3,037


8,845


7,648


(12,569
)
 
6,961

Total assets
$
3,037

 
$
9,169

 
$
10,629

 
$
(12,781
)
 
$
10,054

LIABILITIES AND STOCKHOLDERS’ EQUITY
 

 
 

 
 

 
 

 
 
Current liabilities
 

 
 

 
 

 
 

 
 
Short-term debt
$
—

 
$
110

 
$
216

 
$
—

 
$
326

Current portion of long-term debt
—

 
55

 
—

 
—

 
55

Accounts payable and other accrued liabilities
—

 
302

 
971

 
(212
)
 
1,061

Total current liabilities
—

 
467

 
1,187

 
(212
)
 
1,442

Noncurrent liabilities
 
 
 

 
 

 
 

 
 
Long-term debt
—

 
3,205

 
143

 
—

 
3,348

Employee benefit obligations
—

 
844

 
232

 
—

 
1,076

Asbestos litigation reserve
—

 
375

 
286

 
—

 
661

Deferred income taxes
—

 
—

 
618

 
(533
)
 
85

Intercompany payables
—

 
1,621

 
11

 
(1,632
)
 
—

Other liabilities
—

 
236

 
169

 
—

 
405

Total noncurrent liabilities
—

 
6,281

 
1,459

 
(2,165
)
 
5,575

Stockholders’ equity
3,037

 
2,421

 
7,983

 
(10,404
)
 
3,037

Total liabilities and stockholders’ equity
$
3,037


$
9,169


$
10,629


$
(12,781
)

$
10,054
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
 
 
 
 
 
 
 
 
 
Year ended September 30, 2016
 

 
 
 
 

 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

Total cash flows provided by operating
 
 
 
 
 
 
 
 
 
activities from continuing operations
$
—

 
$
87

 
$
616

 
$
—

 
$
703

Cash flows provided (used) by investing
 

 
 

 
 

 
 

 
 

activities from continuing operations
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
—

 
(33
)
 
(267
)
 
—

 
(300
)
Purchase of operations - net of cash acquired
—

 
—

 
(83
)
 
—

 
(83
)
Proceeds from sale of operations


 


 


 


 


or equity investments
—

 
—

 
16

 
—

 
16

Intercompany dividends
—

 
1,236

 
—

 
(1,236
)
 
—

Net purchases of funds restricted for
 
 
 
 
 
 
 
 
 
specific transactions
—

 
(4
)
 
—

 
—

 
(4
)
Reimbursements from restricted investments
—

 
33

 
—

 
—

 
33

Proceeds from sales of available-for-sale securities
—

 
—

 
10

 
—

 
10

Purchase of available-for-sale securities
—

 
—

 
(10
)
 
—

 
(10
)
Other investing activities, net
—

 
2

 
4

 
—

 
6

Total cash flows provided (used) by investing
 
 
 
 
 
 
 
 


activities from continuing operations
—


1,234


(330
)

(1,236
)

(332
)
Cash flows provided (used) by financing
 

 
 

 
 

 
 

 


activities from continuing operations
 
 
 
 
 
 
 
 


Proceeds from issuance of long-term debt
—

 
—

 
1,250

 
—

 
1,250

Repayment of long-term debt
—

 
(1,086
)
 
(509
)
 
—

 
(1,595
)
Repayment from short-term debt
—

 
(111
)
 
(45
)
 
—

 
(156
)
Net proceeds from Valvoline Inc.


 


 


 


 


initial public offering
—

 
—

 
712

 
—

 
712

Repurchase of common stock
—

 
(500
)
 
—

 
—

 
(500
)
Cash dividends paid
—

 
(97
)
 
—

 
—

 
(97
)
Intercompany dividends
—

 
—

 
(1,236
)
 
1,236

 
—

Other intercompany activity, net
—

 
547

 
(547
)
 
—

 
—

Other financing activities, net
—

 
3

 
(11
)
 
—

 
(8
)
Total cash flows provided (used) by financing
 
 
 
 
 
 
 
 


activities from continuing operations
—


(1,244
)

(386
)

1,236

 
(394
)
Cash provided (used) by continuing operations
—


77


(100
)

—

 
(23
)
Cash used by discontinued operations
 

 
 

 
 

 
 

 


Operating cash flows
—

 
(22
)
 
(18
)
 
—

 
(40
)
Investing cash flows
—

 
—

 
—

 
—

 
—

Total cash used by discontinued operations
—


(22
)

(18
)

—

 
(40
)
Effect of currency exchange rate changes on
 
 
 
 
 
 
 
 


cash and cash equivalents
—

 
—

 
(6
)
 
—

 
(6
)
Increase (decrease) in cash and cash equivalents
—


55


(124
)

—

 
(69
)
Cash and cash equivalents - beginning of year
—

 
21

 
1,236

 
—

 
1,257

Cash and cash equivalents - end of year
$
—


$
76


$
1,112


$
—

 
$
1,188


Condensed Statements of Cash Flows
 
 
 
 
 
 
 
 
 
Year ended September 30, 2015
 

 
 
 
 

 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

Total cash flows provided (used) by operating
 
 
 
 
 
 
 
 
 
activities from continuing operations
$
—

 
$
(616
)
 
$
705

 
$
—

 
$
89

Cash flows provided (used) by investing
 

 
 

 
 

 
 

 
 

activities from continuing operations
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
—

 
(32
)
 
(233
)
 
—

 
(265
)
Purchase of operations - net of cash acquired
—

 
—

 
(13
)
 
—

 
(13
)
Proceeds from sale of operations


 


 


 


 


or equity investments
—

 
—

 
161

 
—

 
161

Net purchases of funds restricted for
 
 
 
 
 
 
 
 
 
specific transactions
—

 
(320
)
 
—

 
—

 
(320
)
Reimbursements from restricted investments
—

 
6

 
—

 
—

 
6

Proceeds from sales of available-for-sale securities
—

 
—

 
315

 
—

 
315

Purchase of available-for-sale securities
—

 
—

 
(315
)
 
—

 
(315
)
Other investing activities, net
—

 
16

 
(2
)
 
—

 
14

Total cash flows used by investing
 
 
 
 
 
 
 
 
 
activities from continuing operations
—

 
(330
)
 
(87
)
 
—

 
(417
)
Cash flows provided (used) by financing
 

 
 

 
 

 
 

 
 
activities from continuing operations
 
 
 
 
 
 
 
 
 
Proceeds from issuance of long-term debt
—

 
1,100

 
—

 
—

 
1,100

Repayment of long-term debt
—

 
(623
)
 
—

 
—

 
(623
)
Proceeds (repayment) from short-term debt
—

 
65

 
(68
)
 
—

 
(3
)
Repurchase of common stock
—

 
(397
)
 
—

 
—

 
(397
)
Cash dividends paid
—

 
(98
)
 
—

 
—

 
(98
)
Other intercompany activity, net
—

 
338

 
(338
)
 
—

 
—

Other financing activities, net
—

 
(9
)
 
—

 
—

 
(9
)
Total cash flows provided (used) by financing
 
 
 
 
 
 
 
 
 
activities from continuing operations
—

 
376

 
(406
)
 
—

 
(30
)
Cash provided (used) by continuing operations
—

 
(570
)
 
212

 
—

 
(358
)
Cash provided (used) by discontinued operations
 

 
 

 
 

 
 

 
 
Operating cash flows
—

 
302

 
(57
)
 
—

 
245

Investing cash flows
—

 
—

 
24

 
—

 
24

Total cash provided (used) by
 
 
 
 
 
 
 
 
 
discontinued operations
—

 
302

 
(33
)
 
—

 
269

Effect of currency exchange rate changes on
 
 
 
 
 
 
 
 
 
cash and cash equivalents
—

 
—

 
(47
)
 
—

 
(47
)
Increase (decrease) in cash and cash equivalents
—

 
(268
)
 
132

 
—

 
(136
)
Cash and cash equivalents - beginning of year
—

 
289

 
1,104

 
—

 
1,393

Cash and cash equivalents - end of year
$
—

 
$
21

 
$
1,236

 
$
—

 
$
1,257



Condensed Statements of Cash Flows
 
 
 
 
 
 
 
 
 
Year ended September 30, 2014
 

 
 
 
 

 
 
 
 
 
(In millions)
Ashland Global Holdings Inc. (Parent Guarantor)

 
Ashland LLC (Issuer)

 
Other Non-Guarantor
Subsidiaries

 
Eliminations

 
Consolidated

Total cash flows provided (used) by operating
 
 
 
 
 
 
 
 
 
activities from continuing operations
$
—

 
$
(74
)
 
$
654

 
$
—

 
$
580

Cash flows provided (used) by investing
 

 
 

 
 

 
 

 
 

activities from continuing operations
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
—

 
(30
)
 
(218
)
 
—

 
(248
)
Proceeds from sale of operations


 


 


 


 


or equity investments
—

 
55

 
37

 
—

 
92

Net purchases of funds restricted for
 
 
 
 
 
 
 
 
 
specific transactions
—

 
(15
)
 
—

 
—

 
(15
)
Other investing activities, net
—

 
1

 
2

 
—

 
3

Total cash flows provided (used) by investing
 
 
 
 
 
 
 
 
 
activities from continuing operations
—

 
11

 
(179
)
 
—

 
(168
)
Cash flows provided (used) by financing
 

 
 

 
 

 
 

 
 
activities from continuing operations
 
 
 
 
 
 
 
 
 
Repayment of long-term debt
—

 
—

 
(11
)
 
—

 
(11
)
Proceeds (repayment) from short-term debt
—

 
41

 
(19
)
 
—

 
22

Repurchase of common stock
—

 
(954
)
 
—

 
—

 
(954
)
Cash dividends paid
—

 
(103
)
 
—

 
—

 
(103
)
Other intercompany activity, net
—

 
1,298

 
(1,298
)
 
—

 
—

Other financing activities, net
—

 
12

 
—

 
—

 
12

Total cash flows provided (used) by financing
 
 
 
 
 
 
 
 
 
activities from continuing operations
—

 
294

 
(1,328
)
 
—

 
(1,034
)
Cash provided (used) by continuing operations
—

 
231

 
(853
)
 
—

 
(622
)
Cash provided (used) by discontinued operations
 

 
 

 
 

 
 

 
 
Operating cash flows
—

 
(17
)
 
80

 
—

 
63

Investing cash flows
—

 
69

 
1,539

 
—

 
1,608

Total cash provided (used) by
 
 
 
 
 
 
 
 
 
discontinued operations
—

 
52

 
1,619

 
—

 
1,671

Effect of currency exchange rate changes on
 
 
 
 
 
 
 
 
 
cash and cash equivalents
—

 
—

 
(2
)
 
—

 
(2
)
Increase in cash and cash equivalents
—

 
283

 
764

 
—

 
1,047

Cash and cash equivalents - beginning of year
—

 
6

 
340

 
—

 
346

Cash and cash equivalents - end of year
$
—

 
$
289

 
$
1,104

 
$
—

 
$
1,393