| SUPPLEMENTAL FINANCIAL INFORMATION Cash, cash equivalents and restricted cash
The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Statements of Cash Flows to the Condensed Consolidated Balance Sheets:
| | | | | | | | | | | | | | | | | | | | | | (In millions) | | June 30
2025 | | September 30
2024 | | June 30
2024 | | Cash and cash equivalents - continuing operations | | $ | 68.3 | | | $ | 68.3 | | | $ | 65.7 | | | | | | | | | | | | | | | | Restricted cash - continuing operations (a) | | — | | | 0.4 | | | 0.3 | | | | | | | | | | Total cash, cash equivalents and restricted cash | | $ | 68.3 | | | $ | 68.7 | | | $ | 66.0 | | | | | | | | |
(a)Included in Prepaid expenses and other current assets within the Condensed Consolidated Balance Sheets. Accounts and other receivables
The following summarizes Valvoline’s accounts and other receivables in the Condensed Consolidated Balance Sheets as of:
| | | | | | | | | | | | | | | | (In millions) | | June 30
2025 | | September 30 2024 | | Current | | | | | | Trade | | $ | 79.5 | | | $ | 73.2 | | Notes receivable from franchisees | | 11.0 | | | 5.4 | | | Other | | 2.1 | | | 9.1 | | | Receivables, gross | | 92.6 | | | 87.7 | | | Allowance for credit losses | | (2.8) | | | (1.3) | | | Receivables, net | | $ | 89.8 | | | $ | 86.4 | | | | | | | Non-current (a) | | | | | | | | | | | Notes receivable | | $ | 2.6 | | | $ | 2.5 | | | Other | | 4.6 | | | 4.4 | | | Noncurrent notes receivable, gross | | 7.2 | | | 6.9 | | | Allowance for losses | | (2.7) | | | (2.6) | | | Noncurrent notes receivable, net | | $ | 4.5 | | | $ | 4.3 | | | | | | |
(a)Included in Other noncurrent assets within the Condensed Consolidated Balance Sheets.
Revenue recognition
The following disaggregates the Company’s net revenues by timing of revenue recognized:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30 | | Nine months ended
June 30 | | | | | (In millions) | | 2025 | | 2024 | | 2025 | | 2024 | | Net revenues transferred at a point in time | | $ | 416.1 | | | $ | 401.7 | | | $ | 1,191.9 | | | $ | 1,127.7 | | | Franchised revenues transferred over time | | 22.9 | | | 19.7 | | | 64.6 | | | 55.8 | | | Net revenues | | $ | 439.0 | | | $ | 421.4 | | | $ | 1,256.5 | | | $ | 1,183.5 | |
The following table summarizes net revenues by category:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30 | | Nine months ended
June 30 | | | | | (In millions) | | 2025 | | 2024 | | 2025 | | 2024 | | Oil changes and related fees | | $ | 319.3 | | | $ | 307.9 | | | $ | 912.0 | | | $ | 868.6 | | | Non-oil changes and related fees | | 93.9 | | | 93.6 | | | 275.2 | | | 258.6 | | | Franchise fees and other | | 25.8 | | | 19.9 | | | 69.3 | | | 56.3 | | | Total | | $ | 439.0 | | | $ | 421.4 | | | $ | 1,256.5 | | | $ | 1,183.5 | | | | | | | | | | |
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