Inventories

9 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are primarily carried at the lower of cost or net realizable value using the weighted average cost method. In addition, certain lubricants are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method.

The following summarizes Valvoline’s inventories as of:

(In millions)	June 30 2019		September 30 2018
Finished products	$	210	$	189
Raw materials, supplies and work in process	34		30
Reserve for LIFO cost valuation	(41)		(40)
Excess and obsolete inventory reserves	(3)		(3)
Total inventories, net	$	200	$	176