ASHLAND INC
For the period ended Sep 30, 2024. Filed Nov 18, 2024.
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FY2024 · Filed Nov 18, 2024
ASH$76.81-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Consolidated Cash Flows
Years Ended September 30
| (In millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| CASH FLOWS PROVIDED (USED) BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS | |||
| Net income | $169 | $178 | $927 |
| Loss (income) from discontinued operations, net of income taxes | 30 | (10) | (746) |
| Adjustments to reconcile income from continuing operations to cash flows from operating activities | |||
| Depreciation and amortization | 274 | 243 | 241 |
| Original issue discount and debt issuance cost amortization | 6 | 6 | 7 |
| Deferred income taxes | (302) | (32) | (35) |
| Gain from sales of property and equipment | — | (1) | — |
| Stock based compensation expense - Note O | 15 | 22 | 18 |
| Excess tax benefits on stock based compensation | — | 2 | 1 |
| Loss (income) from restricted investments | (74) | (43) | 86 |
| Loss (income) on acquisitions and divestitures, net - Notes B | 107 | (7) | (42) |
| Asset impairments | 11 | 4 | — |
| Pension contributions | (15) | (8) | (5) |
| Loss (gain) on pension and other postretirement plan remeasurements | 14 | (2) | (22) |
| Change in operating assets and liabilities(a) | 227 | (58) | (237) |
| Total cash flows provided by operating activities from continuing operations | 462 | 294 | 193 |
| CASH FLOWS PROVIDED (USED) BY INVESTING ACTIVITIES FROM CONTINUING OPERATIONS | |||
| Additions to property, plant and equipment | (137) | (170) | (113) |
| Proceeds from disposal of property, plant and equipment | — | 11 | 51 |
| Proceeds from sale or restructuring of operations | 26 | — | — |
| Proceeds from settlement of company-owned life insurance contracts | 1 | 6 | 3 |
| Company-owned life insurance payments | (5) | (5) | (4) |
| Funds restricted for specific transactions | (5) | (9) | (74) |
| Reimbursement from restricted investments | 79 | 58 | 35 |
| Proceeds from sale of securities | 53 | 47 | 87 |
| Purchase of securities | (53) | (47) | (87) |
| Other investing cash flows | (10) | — | — |
| Total cash flows used by investing activities from continuing operations | (51) | (109) | (102) |
| CASH FLOWS PROVIDED (USED) BY FINANCING ACTIVITIES FROM CONTINUING OPERATIONS | |||
| Repayment of long-term debt | — | — | (250) |
| Proceeds from (repayment of) short-term debt | (16) | 16 | (365) |
| Repurchase of common stock | (380) | (300) | (200) |
| Debt issuance costs | — | — | (2) |
| Cash dividends paid | (78) | (76) | (70) |
| Stock based compensation employee withholding taxes paid in cash | (5) | (11) | (9) |
| Total cash flows used by financing activities from continuing operations | (479) | (371) | (896) |
| CASH USED BY CONTINUING OPERATIONS | (68) | (186) | (805) |
| Cash provided (used) by discontinued operations | |||
| Operating cash flows | (51) | (51) | (406) |
| Investing cash flows | — | — | 1,658 |
| Total cash provided (used) by discontinued operations | (51) | (51) | 1,252 |
| Effect of currency exchange rate changes on cash and cash equivalents | 2 | 8 | (11) |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (117) | (229) | 436 |
| CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 417 | 646 | 210 |
| CASH AND CASH EQUIVALENTS - END OF YEAR | $300 | $417 | $646 |
| CHANGES IN ASSETS AND LIABILITIES(a) | |||
| Accounts receivable | $96 | $58 | $(23) |
| Inventories | 79 | (7) | (141) |
| Trade and other payables | 56 | (112) | 34 |
| Other assets and liabilities | (4) | 3 | (107) |
| CHANGE IN OPERATING ASSETS AND LIABILITIES | $227 | $(58) | $(237) |
| SUPPLEMENTAL DISCLOSURES | |||
| Interest paid | $52 | $53 | $56 |
| Income taxes paid (including discontinued operations) | 53 | 63 | 406 |
(a)Excludes changes resulting from operations acquired or sold.
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