Supplemental Financial Information (Tables)

12 Months Ended

Sep. 30, 2020

Supplemental Financial Information [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the totals shown within the Consolidated Statements of Cash Flows for the years ended September 30:

(In millions)	2020		2019		2018
Cash and cash equivalents	$	760	$	159	$	96
Restricted cash (a)	1		—		—
Total cash, cash equivalents and restricted cash	$	761	$	159	$	96

(a)Included in Prepaid expenses and other current assets within the Consolidated Balance Sheets.

Summary of Accounts Receivable

Accounts and other receivables

The following summarizes Valvoline’s accounts and other receivables in the Consolidated Balance Sheets as of September 30:

(In millions)	2020		2019
Current
Trade	$	409	$	394
Other	14		10
Notes receivable from franchisees	13		—
Receivables, gross	436		404
Allowance for doubtful accounts	(3)		(3)
Receivables, net	$	433	$	401
Non-current (a)
Notes receivable from franchisees	$	13	$	—
Other notes receivable	8		5
Noncurrent notes receivable, gross	21		5
Allowance for losses	(4)		(2)
Noncurrent notes receivable, net	$	17	$	3

(a)Included in Other noncurrent assets within the Consolidated Balance Sheets.

Inventories

The following summarizes Valvoline’s inventories in the Consolidated Balance Sheets as of September 30:

(In millions)	2020		2019
Finished products	$	195	$	203
Raw materials, supplies and work in process	30		32
Reserve for LIFO cost valuation	(26)		(41)
Total inventories, net	$	199	$	194

Summary of Property, Plant and Equipment

(In millions)	2020		2019
Land (a)	$	96	$	58
Buildings (b)	412		348
Machinery and equipment	494		475
Construction in progress	101		72
Total property, plant and equipment	1,103		953
Accumulated depreciation (c)	(490)		(455)
Net property, plant and equipment	$	613	$	498

(a) Includes $34 million of finance lease assets as of September 30, 2020.

(b) Includes $43 million of finance lease assets and $61 million of assets under capital leases and financing obligations as of September 30, 2020 and 2019, respectively.

(c) Includes $10 million for finance lease assets and $11 million for assets under capital leases and financing obligations as of September 30, 2020 and 2019, respectively.

(In millions)	2020		2019		2018
Depreciation (includes capital and financing leases)	$	56	$	52	$	49