← ASHLAND INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest ($28.0m) $28.0m $114.0m $505.0m ($508.0m) $220.0m $927.0m $178.0m $169.0m ($845.0m) —
Net Income (Loss) Attributable to Noncontrolling Interest $1.0m — $0 $0 — — — — — — —
Depreciation, Depletion and Amortization $302.0m $301.0m $312.0m $289.0m $247.0m $244.0m $241.0m $243.0m $274.0m $237.0m $191.0m
Amortization $76.0m — $95.0m $86.0m $85.0m $90.0m $94.0m $93.0m $76.0m $63.0m $63.0m
Amortization of Debt Issuance Costs $18.0m — $9.0m $13.0m $15.0m $7.0m $7.0m $6.0m $6.0m $7.0m —
Depreciation $226.0m $301.0m $217.0m $203.0m $162.0m $154.0m $147.0m $150.0m $198.0m $174.0m $174.0m
Other Depreciation and Amortization $302.0m — — — — — — — — — —
Original issue discount and debt issuance cost amortization $23.0m $109.0m $9.0m $13.0m $15.0m $7.0m $7.0m $6.0m $6.0m $7.0m —
Deferred Income Tax Expense (Benefit) $29.0m ($30.0m) ($97.0m) $20.0m ($43.0m) ($26.0m) ($35.0m) ($32.0m) ($302.0m) $73.0m $72.0m
Share-based Payment Arrangement, Noncash Expense $30.0m — $28.0m $21.0m $14.0m $15.0m $18.0m $22.0m $15.0m $14.0m $16.0m
Payment, Tax Withholding, Share-based Payment Arrangement — — $10.0m $10.0m $7.0m $7.0m $9.0m $11.0m $5.0m $3.0m —
Share-based Payment Arrangement, Expense $34.0m — $45.0m $26.0m $16.0m $18.0m $24.0m $22.0m $17.0m $14.0m $16.0m
Goodwill, Impairment Loss $171.0m — — — $530.0m $0 $0 — — $706.0m $0
Goodwill impairment — — — — — — — $0 $0 $706.0m $0
Asset impairments — — — — — $13.0m $0 $4.0m $11.0m $0 —
Income (Loss) from Equity Method Investments ($1.0m) — $1.0m — — — — — — — —
Changes in operating assets and liabilities:
Increase (Decrease) in Accounts Receivable ($77.0m) — $70.0m ($38.0m) ($7.0m) ($72.0m) $23.0m ($58.0m) ($96.0m) $3.0m ($3.0m)
Accounts receivable $55.0m ($64.0m) ($70.0m) $38.0m $7.0m $72.0m ($23.0m) $58.0m $96.0m ($3.0m) ($3.0m)
Increase (Decrease) in Inventories ($48.0m) — $29.0m $4.0m ($65.0m) ($41.0m) $141.0m $7.0m ($79.0m) $28.0m ($28.0m)
Inventories $44.0m ($23.0m) ($29.0m) ($4.0m) $65.0m $41.0m ($141.0m) ($7.0m) $79.0m ($28.0m) ($28.0m)
Increase (Decrease) in Accounts Payable ($99.0m) — $85.0m ($79.0m) ($50.0m) $3.0m $34.0m ($112.0m) $56.0m ($63.0m) —
Trade and other payables ($59.0m) $60.0m $85.0m ($79.0m) ($50.0m) $3.0m $34.0m ($112.0m) $56.0m ($63.0m) —
Other assets and liabilities $17.0m ($15.0m) $15.0m ($84.0m) ($3.0m) ($36.0m) ($107.0m) $3.0m ($4.0m) ($97.0m) —
Other Operating Income (Expense), Net $7.0m — $7.0m $4.0m $8.0m $9.0m $2.0m $6.0m $6.0m — —
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $231.0m ($199.0m) $185.0m $154.0m $138.0m $105.0m $113.0m $170.0m $137.0m $98.0m ($85.0m)
Gain (Loss) on Disposition of Property Plant Equipment $2.0m $5.0m $4.0m $9.0m $5.0m $4.0m $51.0m $1.0m $0 $16.0m $115.0m
Debt Securities, Available-for-sale, Realized Gain (Loss) — — — $32.0m $2.0m $17.0m — — — — —
Gain (Loss) on Investments — — — $7.0m $10.0m $10.0m ($2.0m) $5.0m $8.0m $5.0m ($46.0m)
Gain (Loss) on Sale of Investments — — — $17.0m $30.0m $33.0m ($86.0m) $43.0m $74.0m $33.0m —
Restricted Cash and Investments, Current $30.0m — $30.0m $24.0m $30.0m $37.0m $61.0m $77.0m $73.0m $50.0m —
Income from restricted investments — ($11.0m) ($14.0m) ($17.0m) ($30.0m) ($33.0m) $86.0m ($43.0m) ($74.0m) ($33.0m) —
Reimbursement from restricted investments $33.0m $27.0m $33.0m $32.0m $35.0m $33.0m $35.0m $58.0m $79.0m $62.0m —
Payments to Acquire Businesses, Net of Cash Acquired $0 — $11.0m $2.0m — $309.0m — $0 — — —
Loss (income) on acquisitions and divestitures, net - Notes B $9.0m $4.0m $1.0m — ($3.0m) ($15.0m) ($42.0m) ($7.0m) $107.0m $177.0m —
Payments for (Proceeds from) Other Investing Activities ($6.0m) — — — — — — — $10.0m $0 —
Other investing cash flows — — — — — — $0 $0 ($10.0m) $0 —
Net Cash Provided by (Used in) Investing Activities ($332.0m) ($829.0m) ($202.0m) ($118.0m) ($90.0m) ($367.0m) ($102.0m) ($109.0m) ($51.0m) ($3.0m) $19.0m
Cash flows from financing activities:
Repayments of Long-term Debt $1.1b — $311.0m $797.0m $767.0m $411.0m $250.0m $0 $0 — $0
Debt and Equity Securities, Unrealized Gain (Loss) — — — $29.0m $46.0m $49.0m — — — — —
Gain (Loss) on Extinguishment of Debt — — — — ($59.0m) ($16.0m) — $0 — — —
Proceeds from Issuance of Long-term Debt $0 $1.1b — — $804.0m $450.0m $0 $0 — — $0
Repayment of long-term debt ($1.6b) ($915.0m) ($311.0m) ($797.0m) ($767.0m) ($411.0m) ($250.0m) $0 $0 — —
Premium on long-term debt repayment $0 ($17.0m) — — ($59.0m) ($16.0m) $0 $0 — — —
Proceeds from (repayment of) short-term debt ($156.0m) $75.0m $15.0m ($78.0m) $115.0m $84.0m ($365.0m) $16.0m ($16.0m) $0 —
Payments for Repurchase of Common Stock $500.0m $0 — $200.0m — $450.0m $200.0m $300.0m $380.0m $100.0m —
Payments of Ordinary Dividends, Common Stock $97 — $60 $64 $66 $70 $70 $76 $78 $76 ($76.0m)
Repurchase of common stock ($500.0m) $0 — ($200.0m) — ($450.0m) ($200.0m) ($300.0m) ($380.0m) ($100.0m) —
Cash dividends paid ($97) ($77) ($60) ($64) ($66) ($70) ($70) ($76) ($78) ($76) ($76.0m)
Proceeds from (Payments for) Other Financing Activities ($8.0m) — — — — — — — — — —
Net Cash Provided by (Used in) Financing Activities ($394.0m) — ($368.0m)
($1.1b) -212.23%
$9.0m +100.78%
($426.0m) -4833.33%
($896.0m) -110.33%
($371.0m) +58.59%
($479.0m) -29.11%
($179.0m) +62.63%
($78.0m) +56.42%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($6.0m) ($5.0m) $1.0m ($62.0m) $222.0m ($244.0m) $436.0m ($229.0m) ($117.0m) ($85.0m) $439.0m
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR $1.3b $1.0b $566.0m $232.0m $454.0m $210.0m $646.0m $417.0m $300.0m $215.0m
Effect of currency exchange rate changes on cash and cash equivalents ($6.0m) ($5.0m) $1.0m ($3.0m) $2.0m $3.0m ($11.0m) $8.0m $2.0m $3.0m —
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $162.0m $132.0m $126.0m $124.0m $77.0m $62.0m $56.0m $53.0m $52.0m $54.0m —
Income Taxes Paid, Net $108.0m $79.0m $77.0m $67.0m $91.0m $1.0m $406.0m $63.0m $53.0m $33.0m —
Additional Financial Items
Accretion Expense $2.0m — $1.0m $1.0m $1.0m $1.0m $1.0m $1.0m $1.0m $1.0m —
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax — — — — $29.0m — $726.0m — — — —
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal ($8.0m) — ($4.0m) ($2.0m) $2.0m $11.0m $42.0m $6.0m ($115.0m) ($161.0m) —
Environmental Remediation Expense $43.0m — $67.0m $37.0m $54.0m $55.0m $71.0m $60.0m $58.0m $52.0m —
Equity Securities, FV-NI, Gain (Loss) — — — — — $21.0m — — — — —
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — $7.0m $20.0m — ($102.0m) $29.0m $60.0m $20.0m —
Foreign Currency Transaction Gain (Loss), before Tax — — — — — $1.0m — — — — —
Gain (Loss) on Disposition of Business $8.0m — ($1.0m) — $3.0m $15.0m $42.0m $7.0m ($107.0m) ($177.0m) —
Goodwill $2.1b — $2.4b $2.3b $1.8b $1.4b $1.3b $1.4b $1.4b $705.0m $0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent ($283.0m) ($133.0m) $105.0m $24.0m ($491.0m) $173.0m $181.0m $168.0m $199.0m ($822.0m) —
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($283.0m) ($133.0m) $105.0m $24.0m ($491.0m) $173.0m $181.0m $168.0m $199.0m ($822.0m) —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $255.0m ($133.0m) $9.0m $481.0m ($17.0m) $47.0m $746.0m $10.0m ($30.0m) ($23.0m) —
Income Tax Expense (Benefit) ($25.0m) — $9.0m $46.0m ($12.0m) ($38.0m) $25.0m ($8.0m) ($223.0m) $13.0m —
Realized Investment Gains (Losses) — — — $7.0m — — — — — — —
Loss (income) from discontinued operations, net of income taxes $31.0m ($133.0m) ($9.0m) ($481.0m) $17.0m ($47.0m) ($746.0m) ($10.0m) $30.0m $23.0m —
Distributions from equity affiliates $18.0m $1.0m $1.0m — $1.0m $1.0m $0 $0 — — —
Stock based compensation expense - Note O $30.0m $20.0m $28.0m $21.0m $14.0m $15.0m $18.0m $22.0m $15.0m $14.0m $16.0m
Benefit (loss) from excess tax deduction on stock based compensation — — — — — — — $2.0m $0 ($3.0m) —
Pension contributions ($35.0m) ($7.0m) ($9.0m) ($5.0m) ($6.0m) ($8.0m) ($5.0m) ($8.0m) ($15.0m) ($12.0m) —
Loss (gain) on pension and other postretirement plan remeasurements $124.0m $6.0m ($12.0m) ($7.0m) ($1.0m) $1.0m ($22.0m) ($2.0m) $14.0m ($3.0m) —
Change in operating assets and liabilities $57.0m ($42.0m) $1.0m ($129.0m) $19.0m $80.0m ($237.0m) ($58.0m) $227.0m ($191.0m) —
Proceeds from sale or restructuring of operations — $18.0m $6.0m — $9.0m $14.0m $0 $0 $26.0m $16.0m —
Proceeds from settlement of company-owned life insurance contracts — — $2.0m $3.0m $8.0m $91.0m $3.0m $6.0m $1.0m $12.0m —
Company-owned life insurance payments — — ($37.0m) ($3.0m) ($6.0m) ($6.0m) ($4.0m) ($5.0m) ($5.0m) ($5.0m) —
Funds restricted for specific transactions — ($2.0m) ($10.0m) ($7.0m) ($3.0m) ($91.0m) ($74.0m) ($9.0m) ($5.0m) ($8.0m) —
Proceeds from sale of securities — $19.0m $26.0m $348.0m $21.0m $149.0m $87.0m $47.0m $53.0m $56.0m —
Purchase of securities — ($19.0m) ($26.0m) ($348.0m) ($21.0m) ($149.0m) ($87.0m) ($47.0m) ($53.0m) ($54.0m) —
Total cash flows used by investing activities from continuing operations ($332.0m) ($829.0m) ($202.0m) ($118.0m) ($90.0m) ($367.0m) ($102.0m) ($109.0m) ($51.0m) ($3.0m) —
Total cash flows used by financing activities from continuing operations ($394.0m) — ($368.0m) ($1.1b) $9.0m ($426.0m) ($896.0m) ($371.0m) ($479.0m) ($179.0m) —
CASH USED BY CONTINUING OPERATIONS ($23.0m) ($420.0m) ($226.0m) ($1.0b) $232.0m ($327.0m) ($805.0m) ($186.0m) ($68.0m) ($48.0m)
Total cash used by discontinued operations ($40.0m) ($197.0m) ($47.0m) $980.0m ($12.0m) $80.0m $1.3b ($51.0m) ($51.0m) ($40.0m) —
DECREASE IN CASH AND CASH EQUIVALENTS ($69.0m) ($622.0m) ($272.0m) ($62.0m) $222.0m ($244.0m) $436.0m ($229.0m) ($117.0m) ($85.0m)

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.