v3.25.2
Equity Items
 9 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Equity Items

NOTE N – EQUITY ITEMS

2023 Stock repurchase program

On June 28, 2023, Ashland's board of directors authorized a new evergreen $1 billion common share repurchase program ("2023 Stock Repurchase Program"). The new authorization terminated and replaced the 2022 Stock Repurchase Program, which had $200 million outstanding at the date of termination. As of June 30, 2025, $520 million remained available for repurchase under the 2023 Stock Repurchase Program.

The following table provides the common stock repurchase activity:

 

 

Three months ended

 

 

Nine months ended

 

 

 

June 30

 

 

June 30

 

(In millions, except per share data)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Number of shares repurchased

 

 

—

 

 

 

1.30

 

 

 

1.50

 

 

 

2.60

 

Weighted-average price per share(a)

 

$

—

 

 

$

98.92

 

 

$

64.90

 

 

$

90.12

 

Aggregate purchase price(a)

 

$

—

 

 

$

130

 

 

$

100

 

 

$

230

 

Program

 

NA

 

 

2023 Stock Repurchase Program

 

 

2023 Stock Repurchase Program

 

 

2023 Stock Repurchase Program

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(a)
Includes transactions costs.

Stockholder dividends

On May 6, 2025, Ashland's Board declared a quarterly cash dividend of $0.415 per share on the company's common stock representing a 2% increase from the previous quarter. The dividend was paid in the third quarter of fiscal 2025. Dividends of $0.405 per share were paid in the first and second quarters of fiscal 2025 and the third quarter of fiscal 2024 and $0.385 per share were paid in the first and second quarters of fiscal 2024.

Accumulated other comprehensive loss

Components of other comprehensive income (loss) recorded in the Statements of Condensed Consolidated Comprehensive Income (Loss) are presented below, before tax and net of tax effects.

 

 

2025

 

 

2024

 

(In millions)

 

Before
tax

 

 

Tax benefit (expense)

 

 

Net of
tax

 

 

Before
tax

 

 

Tax benefit

 

 

Net of
tax

 

Three months ended June 30

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized translation gain (loss)

 

$

92

 

 

$

(1

)

 

$

91

 

 

$

(25

)

 

$

—

 

 

$

(25

)

Unrealized gain (loss) on commodity hedges

 

 

(1

)

 

 

—

 

 

 

(1

)

 

 

2

 

 

 

—

 

 

 

2

 

Total other comprehensive income (loss)

 

$

91

 

 

$

(1

)

 

$

90

 

 

$

(23

)

 

$

—

 

 

$

(23

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended June 30

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized translation gain (loss)

 

$

46

 

 

$

—

 

 

$

46

 

 

$

2

 

 

$

—

 

 

$

2

 

Unrealized gain (loss) on commodity hedges

 

 

3

 

 

 

(1

)

 

 

2

 

 

 

2

 

 

 

—

 

 

 

2

 

Total other comprehensive income (loss)

 

$

49

 

 

$

(1

)

 

$

48

 

 

$

4

 

 

$

—

 

 

$

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of stockholders’ equity

A reconciliation of changes in stockholders’ equity are as follows:

 

 

Three months ended

 

 

Nine months ended

 

 

 

June 30

 

 

June 30

 

(In millions, except per share data)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Common stock and paid in capital

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

1

 

 

$

6

 

 

$

1

 

 

$

5

 

Common shares issued under stock incentive and other plans(a)

 

 

2

 

 

 

1

 

 

 

8

 

 

 

4

 

Common shares purchased under repurchase program(b)(c)

 

 

—

 

 

 

(7

)

 

 

(6

)

 

 

(9

)

Balance, end of period

 

 

3

 

 

 

—

 

 

 

3

 

 

 

—

 

Retained earnings

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

 

3,048

 

 

 

3,604

 

 

 

3,315

 

 

 

3,595

 

Net income (loss)

 

 

(742

)

 

 

6

 

 

 

(877

)

 

 

153

 

Regular dividends

 

 

(20

)

 

 

(20

)

 

 

(57

)

 

 

(59

)

Common shares purchased under repurchase program(b)(c)

 

 

—

 

 

 

(124

)

 

 

(95

)

 

 

(223

)

Balance, end of period

 

 

2,286

 

 

 

3,466

 

 

 

2,286

 

 

 

3,466

 

Accumulated other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

 

(490

)

 

 

(476

)

 

 

(448

)

 

 

(503

)

Unrealized translation gain (loss)

 

 

91

 

 

 

(25

)

 

 

46

 

 

 

2

 

Unrealized gain (loss) on commodity hedges

 

 

(1

)

 

 

2

 

 

 

2

 

 

 

2

 

Balance, end of period

 

 

(400

)

 

 

(499

)

 

 

(400

)

 

 

(499

)

Total stockholders' equity

 

$

1,889

 

 

$

2,967

 

 

$

1,889

 

 

$

2,967

 

Cash dividends declared per common share

 

$

0.415

 

 

$

0.405

 

 

$

1.225

 

 

$

1.175

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(a)
Common stock issued were 11,423 and 18,909 for the three months ended June 30, 2025 and 2024, respectively, and 139,824 and 129,716 for the nine months ended June 30, 2025 and 2024, respectively. Includes $1 million for both the three months ended June 30, 2025 and 2024, and $4 million and $5 million for the nine months ended June 30, 2025 and 2024, respectively, associated with stock-based compensation employee withholding taxes.
(b)
Common stock repurchased were zero and 1,541,320 for the three and nine months ended June 30, 2025, respectively, and 1,314,485 and 2,552,697 for the three and nine months ended June 30, 2024, respectively.
(c)
Includes zero and $1 million in excise tax on common stock repurchases for the three and nine months ended June 30, 2025, respectively, and $1 million and $2 million for the three and nine months ended June 30, 2024, respectively. Ashland paid a total of zero and $100 million for the three and nine months ended June 30, 2025, respectively, and $130 million and $230 million for the three and nine months ended June 30, 2024, respectively, for common stock repurchases.