The following table presents various financial information for each reportable segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
Nine months ended |
|
|
June 30 |
|
|
June 30 |
|
(In millions - unaudited) |
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Sales |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
180 |
|
|
$ |
162 |
|
|
$ |
491 |
|
|
$ |
468 |
|
Personal Care |
|
155 |
|
|
|
147 |
|
|
|
428 |
|
|
|
426 |
|
Specialty Additives |
|
136 |
|
|
|
131 |
|
|
|
372 |
|
|
|
380 |
|
Intermediates |
|
37 |
|
|
|
33 |
|
|
|
103 |
|
|
|
104 |
|
Intersegment sales(a) |
|
(11 |
) |
|
|
(10 |
) |
|
|
(29 |
) |
|
|
(31 |
) |
|
$ |
497 |
|
|
$ |
463 |
|
|
$ |
1,365 |
|
|
$ |
1,347 |
|
Cost of sales |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
106 |
|
|
$ |
103 |
|
|
$ |
308 |
|
|
$ |
311 |
|
Personal Care |
|
90 |
|
|
|
87 |
|
|
|
257 |
|
|
|
256 |
|
Specialty Additives |
|
110 |
|
|
|
123 |
|
|
|
317 |
|
|
|
328 |
|
Intermediates |
|
32 |
|
|
|
28 |
|
|
|
90 |
|
|
|
93 |
|
Intersegment sales |
|
(11 |
) |
|
|
(10 |
) |
|
|
(29 |
) |
|
|
(31 |
) |
|
$ |
327 |
|
|
$ |
331 |
|
|
$ |
943 |
|
|
$ |
957 |
|
Selling, general and administrative expense |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
20 |
|
|
$ |
18 |
|
|
$ |
61 |
|
|
$ |
58 |
|
Personal Care |
|
22 |
|
|
|
21 |
|
|
|
63 |
|
|
|
62 |
|
Specialty Additives |
|
17 |
|
|
|
17 |
|
|
|
50 |
|
|
|
49 |
|
Intermediates |
|
2 |
|
|
|
1 |
|
|
|
6 |
|
|
|
4 |
|
Total operating segments |
|
61 |
|
|
|
57 |
|
|
|
180 |
|
|
|
173 |
|
Unallocated and other |
|
38 |
|
|
|
49 |
|
|
|
84 |
|
|
|
95 |
|
|
$ |
99 |
|
|
$ |
106 |
|
|
$ |
264 |
|
|
$ |
268 |
|
Research and development expense |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
4 |
|
|
$ |
4 |
|
|
$ |
11 |
|
|
$ |
12 |
|
Personal Care |
|
6 |
|
|
|
6 |
|
|
|
17 |
|
|
|
19 |
|
Specialty Additives |
|
4 |
|
|
|
3 |
|
|
|
10 |
|
|
|
8 |
|
Intermediates |
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
Total operating segments |
|
14 |
|
|
|
13 |
|
|
|
39 |
|
|
|
39 |
|
Unallocated and other |
|
1 |
|
|
|
— |
|
|
|
2 |
|
|
|
2 |
|
|
$ |
15 |
|
|
$ |
13 |
|
|
$ |
41 |
|
|
$ |
41 |
|
Amortization expense |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
5 |
|
|
$ |
5 |
|
|
$ |
14 |
|
|
$ |
13 |
|
Personal Care |
|
8 |
|
|
|
8 |
|
|
|
25 |
|
|
|
26 |
|
Specialty Additives |
|
2 |
|
|
|
2 |
|
|
|
7 |
|
|
|
7 |
|
Intermediates |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
Total operating segments |
|
15 |
|
|
|
15 |
|
|
|
46 |
|
|
|
47 |
|
Unallocated and other |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
$ |
15 |
|
|
$ |
15 |
|
|
$ |
46 |
|
|
$ |
47 |
|
Equity and other income |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Personal Care |
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
1 |
|
Specialty Additives |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Intermediates |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total operating segments |
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
1 |
|
Unallocated and other |
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
2 |
|
|
$ |
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
Nine months ended |
|
|
June 30 |
|
|
June 30 |
|
(In millions - unaudited) |
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Goodwill impairment and (income) loss on divestitures, net |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
— |
|
|
$ |
375 |
|
|
$ |
— |
|
|
$ |
375 |
|
Personal Care |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Specialty Additives |
|
— |
|
|
|
331 |
|
|
|
— |
|
|
|
331 |
|
Intermediates |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total operating segments |
|
— |
|
|
|
706 |
|
|
|
— |
|
|
|
706 |
|
Unallocated and other |
|
(1 |
) |
|
|
— |
|
|
|
(3 |
) |
|
|
165 |
|
|
$ |
(1 |
) |
|
$ |
706 |
|
|
$ |
(3 |
) |
|
$ |
871 |
|
Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
45 |
|
|
$ |
(343 |
) |
|
$ |
97 |
|
|
$ |
(301 |
) |
Personal Care |
|
29 |
|
|
|
25 |
|
|
|
67 |
|
|
|
64 |
|
Specialty Additives |
|
3 |
|
|
|
(345 |
) |
|
|
(12 |
) |
|
|
(343 |
) |
Intermediates |
|
3 |
|
|
|
4 |
|
|
|
6 |
|
|
|
6 |
|
Total operating segments |
|
80 |
|
|
|
(659 |
) |
|
|
158 |
|
|
|
(574 |
) |
Unallocated and other(b) |
|
(37 |
) |
|
|
(49 |
) |
|
|
(82 |
) |
|
|
(262 |
) |
Total operating income (loss) |
$ |
43 |
|
|
$ |
(708 |
) |
|
$ |
76 |
|
|
$ |
(836 |
) |
Net interest and other (income) expense |
|
(8 |
) |
|
|
(5 |
) |
|
|
19 |
|
|
|
34 |
|
Other net periodic benefit (income) loss |
|
(5 |
) |
|
|
1 |
|
|
|
(3 |
) |
|
|
4 |
|
Income (loss) from continuing operations before income taxes |
$ |
56 |
|
|
$ |
(704 |
) |
|
$ |
60 |
|
|
$ |
(874 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA(c) |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences |
$ |
60 |
|
|
$ |
(321 |
) |
|
$ |
140 |
|
|
$ |
(240 |
) |
Personal Care |
|
44 |
|
|
|
40 |
|
|
|
113 |
|
|
|
113 |
|
Specialty Additives |
|
18 |
|
|
|
(309 |
) |
|
|
35 |
|
|
|
(276 |
) |
Intermediates |
|
4 |
|
|
|
7 |
|
|
|
10 |
|
|
|
16 |
|
Total operating segments |
|
126 |
|
|
|
(583 |
) |
|
|
298 |
|
|
|
(387 |
) |
Unallocated and other |
|
(36 |
) |
|
|
(49 |
) |
|
|
(81 |
) |
|
|
(262 |
) |
Total EBITDA |
$ |
90 |
|
|
$ |
(632 |
) |
|
$ |
217 |
|
|
$ |
(649 |
) |
Depreciation expense |
|
32 |
|
|
|
61 |
|
|
|
95 |
|
|
|
140 |
|
Amortization expense |
|
15 |
|
|
|
15 |
|
|
|
46 |
|
|
|
47 |
|
Net interest and other (income) expense |
|
(8 |
) |
|
|
(5 |
) |
|
|
19 |
|
|
|
34 |
|
Other net periodic benefit (income) loss |
|
(5 |
) |
|
|
1 |
|
|
|
(3 |
) |
|
|
4 |
|
Income (loss) from continuing operations before income taxes |
$ |
56 |
|
|
$ |
(704 |
) |
|
$ |
60 |
|
|
$ |
(874 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation expense |
|
|
|
|
|
|
|
|
|
|
|
Life Sciences(d) |
$ |
10 |
|
|
$ |
17 |
|
|
$ |
29 |
|
|
$ |
48 |
|
Personal Care(e) |
|
7 |
|
|
|
7 |
|
|
|
21 |
|
|
|
23 |
|
Specialty Additives(e) |
|
13 |
|
|
|
34 |
|
|
|
40 |
|
|
|
60 |
|
Intermediates |
|
1 |
|
|
|
3 |
|
|
|
4 |
|
|
|
9 |
|
Total operating segments |
|
31 |
|
|
|
61 |
|
|
|
94 |
|
|
|
140 |
|
Unallocated and other(f) |
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
$ |
32 |
|
|
$ |
61 |
|
|
$ |
95 |
|
|
$ |
140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30 |
|
|
September 30 |
|
(In millions - unaudited) |
2026 |
|
|
2025 |
|
Assets |
|
|
|
|
|
Life Sciences |
$ |
1,454 |
|
|
$ |
1,498 |
|
Personal Care |
|
705 |
|
|
|
751 |
|
Specialty Additives |
|
964 |
|
|
|
1,020 |
|
Intermediates |
|
107 |
|
|
|
116 |
|
Unallocated and other |
|
1,348 |
|
|
|
1,226 |
|
|
$ |
4,578 |
|
|
$ |
4,611 |
|
Property, plant and equipment - net |
|
|
|
|
|
Life Sciences |
$ |
456 |
|
|
$ |
481 |
|
Personal Care |
|
100 |
|
|
|
101 |
|
Specialty Additives |
|
462 |
|
|
|
484 |
|
Intermediates |
|
30 |
|
|
|
30 |
|
Unallocated and other |
|
101 |
|
|
|
105 |
|
|
$ |
1,149 |
|
|
$ |
1,201 |
|
|
|
|
|
|
|
(a)Intersegment sales from Intermediates are accounted for at prices that approximate market value. All other intersegment sales are accounted for at cost. (b)Includes a $2 million excess land sale contract termination fee income for both the three and nine months ended June 30, 2026, a $8 million gain on sale and a $183 million impairment charge related to the Avoca business for both the nine months ended June 30, 2025, within the income (loss) on divestitures, net caption of the Statements of Condensed Consolidated Income (Loss). (c)Excludes loss from discontinued operations, net of income taxes and other net periodic benefit (income) loss. See the Statements of Condensed Consolidated Comprehensive Income (Loss) for applicable amounts excluded. (d)Depreciation includes accelerated depreciation of $8 million and $21 million for Life Sciences for the three and nine months ended June 30, 2025, respectively. (e)Depreciation includes accelerated depreciation of $1 million for Personal Care and $3 million for Specialty Additives for the nine months ended June 30, 2026, and $19 million for both the three and nine months ended June 30, 2025. (f)Depreciation includes accelerated depreciation of $1 million for Unallocated and other for both the three and nine months ended June 30, 2026.
|