v3.26.1
Equity Items
 9 Months Ended
Jun. 30, 2026
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"). As of June 30, 2026, $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)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Number of shares repurchased

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.50

 

Weighted-average price per share(a)

 

$

—

 

 

$

—

 

 

$

—

 

 

$

64.90

 

Aggregate purchase price(a)

 

$

—

 

 

$

—

 

 

$

—

 

 

$

100

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(a)
Includes transaction costs.

Stockholder dividends

On May 5, 2026, Ashland's Board declared a quarterly cash dividend of 42.0 cents per share on the Company's common stock representing a 1% increase from the previous quarter. The dividend was paid in the third quarter of fiscal 2026. Dividends of 41.5 cents per share were paid in the first and second quarters of fiscal 2026, and the third and fourth quarters of fiscal 2025. Dividends of 40.5 cents per share were paid in both the first and second quarters of fiscal 2025.

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:

 

 

2026

 

 

2025

 

(In millions)

 

Before
tax

 

 

Tax
expense

 

 

Net of
tax

 

 

Before
tax

 

 

Tax benefit
(expense)

 

 

Net of
tax

 

Three months ended June 30

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized translation gain

 

$

4

 

 

$

—

 

 

$

4

 

 

$

92

 

 

$

(1

)

 

$

91

 

Unrealized loss on commodity hedges

 

 

(2

)

 

 

—

 

 

 

(2

)

 

 

(1

)

 

 

—

 

 

 

(1

)

Total other comprehensive income

 

$

2

 

 

$

—

 

 

$

2

 

 

$

91

 

 

$

(1

)

 

$

90

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended June 30

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized translation (loss) gain

 

$

(5

)

 

$

(1

)

 

$

(6

)

 

$

46

 

 

$

—

 

 

$

46

 

Unrealized (loss) gain on commodity hedges

 

 

(2

)

 

 

—

 

 

 

(2

)

 

 

3

 

 

 

(1

)

 

 

2

 

Total other comprehensive income (loss)

 

$

(7

)

 

$

(1

)

 

$

(8

)

 

$

49

 

 

$

(1

)

 

$

48

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of equity

A reconciliation of changes in equity are as follows:

 

 

Three months ended

 

 

Nine months ended

 

 

 

June 30

 

 

June 30

 

(In millions, except per share data)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Common stock and paid in capital

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

13

 

 

$

1

 

 

$

7

 

 

$

1

 

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

 

 

5

 

 

 

2

 

 

 

11

 

 

 

8

 

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(6

)

Balance, end of period

 

 

18

 

 

 

3

 

 

 

18

 

 

 

3

 

Retained earnings

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

 

2,264

 

 

 

3,048

 

 

 

2,298

 

 

 

3,315

 

Net income (loss)

 

 

16

 

 

 

(742

)

 

 

20

 

 

 

(877

)

Dividends

 

 

(20

)

 

 

(20

)

 

 

(57

)

 

 

(57

)

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

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(95

)

Other

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance, end of period

 

 

2,261

 

 

 

2,286

 

 

 

2,261

 

 

 

2,286

 

Accumulated other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

 

(411

)

 

 

(490

)

 

 

(401

)

 

 

(448

)

Unrealized translation gain (loss)

 

 

4

 

 

 

91

 

 

 

(6

)

 

 

46

 

Unrealized (loss) gain on commodity hedges

 

 

(2

)

 

 

(1

)

 

 

(2

)

 

 

2

 

Balance, end of period

 

 

(409

)

 

 

(400

)

 

 

(409

)

 

 

(400

)

Total equity

 

$

1,870

 

 

$

1,889

 

 

$

1,870

 

 

$

1,889

 

Cash dividends declared per common share

 

$

0.420

 

 

$

0.415

 

 

$

1.250

 

 

$

1.225

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(a)
Common stock issued were 5,593 and 11,423 for the three months ended June 30, 2026 and 2025, respectively, and 83,605 and 139,824 for the nine months ended June 30, 2026 and 2025, respectively. Includes zero for both the three months ended June 30, 2026 and 2025, and $1 million and $4 million for the nine months ended June 30, 2026 and 2025, respectively, associated with stock-based compensation employee withholding taxes.
(b)
Common stock repurchased were zero for each of the three and nine months ended June 30, 2026, and zero and 1,541,320 for the three and nine months ended June 30, 2025.
(c)
Includes zero in excise tax on common stock repurchases for both the three and nine months ended June 30, 2026, and zero and $1 million for the three and nine months ended June 30, 2025. Ashland paid a total of $100 million for the nine months ended June 30, 2025 for common stock repurchases.