Equity Items (Tables)

9 Months Ended

Jun. 30, 2025

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.

Components of Accumulated Other Comprehensive Income (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 Reconciliation of Changes in 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.