SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 27, 2003
ASHLAND INC.
(Exact name of registrant as specified in its charter)
Kentucky
(State or other jurisdiction of incorporation)
1-2918 61-0122250
(Commission File Number) (I.R.S. Employer
Identification No.)
50 E. RiverCenter Boulevard, Covington, Kentucky 41012-0391
(Address of principal executive offices) (Zip Code)
P.O. Box 391, Covington, Kentucky 41012-0391
(Mailing Address) (Zip Code)
Registrant's telephone number, including area code (859) 815-3333
Item 7. Financial Statements and Exhibits
- ------ ---------------------------------
(c) Exhibits
99.1 Website data concerning Ashland Distribution Company's sales per
ship day
99.2 Website data concerning Ashland Distribution Company's revenue
99.3 Website data concerning Ashland Distribution Company's gross
profit
99.4 Website data concerning Ashland Specialty Chemical Company's
average sales per ship day
99.5 Website data concerning Ashland Specialty Chemical Company's
revenue
99.6 Website data concerning Ashland Specialty Chemical Company's gross
profit
99.7 Website data concerning Valvoline's premium oil sales
99.8 Website data concerning Valvoline's revenue
99.9 Website data concerning Valvoline Instant Oil Change's twelve
month rolling average sales
99.10 Website data concerning APAC's twelve month average contract
awards
99.11 Website data concerning APAC's lost time incident rates and OSHA
recordable incident rates
99.12 Website data concerning APAC's monthly revenue and twelve month
rolling average revenue
99.13 Website data concerning APAC's backlog
Item 9. Regulation FD Disclosure
- ------ ------------------------
On June 27, 2003, Ashland Inc. will include the information contained
in exhibits 99.1 - 99.13, and graphic images thereof, on the "Investor
Relations" section of its website located at www.ashland.com. Ashland is
furnishing the information pursuant to the Securities and Exchange
Commission's ("SEC") Regulation FD. The information contained in exhibits
99.1 - 99.13 is summary information concerning key metrics for Ashland's
divisional operations and is intended to be considered in the context of
Ashland's SEC filings and other public announcements that Ashland may make
from time to time.
By filing this report on Form 8-K, Ashland makes no admission as to
the materiality of any information in this report. Ashland reserves the
right to discontinue the availability of the data in the attached exhibits
from its website at any time.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
ASHLAND INC.
-------------------------------------
(Registrant)
Date: June 27, 2003 /s/ J. Marvin Quin
-------------------------------------
Name: J. Marvin Quin
Title: Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
99.1 Website data concerning Ashland Distribution Company's sales per
ship day
99.2 Website data concerning Ashland Distribution Company's revenue
99.3 Website data concerning Ashland Distribution Company's gross
profit
99.4 Website data concerning Ashland Specialty Chemical Company's
average sales per ship day
99.5 Website data concerning Ashland Specialty Chemical Company's
revenue
99.6 Website data concerning Ashland Specialty Chemical Company's gross
profit
99.7 Website data concerning Valvoline's premium oil sales
99.8 Website data concerning Valvoline's revenue
99.9 Website data concerning Valvoline Instant Oil Change's twelve
month rolling average sales
99.10 Website data concerning APAC's twelve month average contract
awards
99.11 Website data concerning APAC's lost time incident rates and OSHA
recordable incident rates
99.12 Website data concerning APAC's monthly revenue and twelve month
rolling average revenue
99.13 Website data concerning APAC's backlog
Exhibit 99.1
(Text of graph posted to Ashland Inc.'s website concerning Ashland
Distribution Company's sales per ship day)
ADC Average Sales $ per Ship Day ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 11.733 10.993 9.537 10.815
February 12.813 11.712 10.084 11.538
March 12.898 11.378 10.480 11.586
April 13.944 11.713 10.308 11.780
May 12.995 11.756 10.493 11.444
June 13.209 10.630 10.642
July 12.664 10.330 9.950
August 12.377 10.230 10.264
September 12.745 10.636 10.738
October 12.163 9.845 10.390
November 12.215 9.767 11.025
December 11.526 8.529 9.392
ADC Non-Durable Manufacturing (%)
2000 2001 2002 2003
---- ---- ---- ----
January 100.0 99.0 96.6 96.1
February 100.6 99.1 96.8 96.3
March 101.3 98.1 97.3 96.5
April 101.5 98.1 97.3 95.6
May 101.4 97.9 97.5 95.7
June 101.6 97.6 97.7
July 101.1 97.5 98.2
August 100.5 97.4 97.8
September 100.7 97.3 97.8
October 100.2 97.1 96.9
November 100.0 96.4 96.7
December 99.6 95.8 96.1
Exhibit 99.2
(Text of graph posted to Ashland Inc's website concerning Ashland
Distribution Company's revenue)
ADC Revenue - Monthly Sales ($, millions)
1999 2000 2001 2002 2003
---- ---- ---- ---- ----
January 220 246 242 210 238
February 233 269 234 202 231
March 263 297 250 210 243
April 254 265 234 227 247
May 240 286 280 231 240
June 260 291 223 213
July 241 253 217 219
August 256 285 235 226
September 253 255 202 215
October 257 268 226 239
November 257 244 195 209
December 254 219 162 188
ADC - 12 Month Rolling Average ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 251 265 222 218
February 254 262 220 221
March 257 258 216 223
April 258 255 216 225
May 262 255 212 226
June 264 249 211
July 265 246 211
August 268 242 210
September 268 237 211
October 269 234 212
November 268 230 214
December 265 225 216
Exhibit 99.3
(Text of graph posted to Ashland Inc.'s website concerning
Ashland Distribution Company's gross profit)
ADC Gross Profit % - 3 Month Rolling Average (%)
2000 2001 2002 2003
---- ---- ---- ----
January 15.6 16.1 16.5 16.1
February 15.6 16.4 16.1 15.8
March 15.5 16.5 15.9 15.6
April 15.5 16.2 15.7 15.8
May 15.6 15.6 15.8 15.7
June 15.5 15.5 15.8
July 15.5 15.5 15.9
August 15.4 15.7 15.9
September 15.6 16.0 15.9
October 15.4 16.1 15.6
November 15.6 16.5 15.8
December 15.6 16.5 16.0
ADC Gross Profit % - 12 Month Rolling Average (%)
2000 2001 2002 2003
---- ---- ---- ----
January 15.9 15.6 16.0 15.8
February 15.9 15.7 16.0 15.8
March 15.8 15.8 15.9 15.8
April 15.8 15.8 15.9 15.8
May 15.8 15.7 16.0 15.8
June 15.7 15.8 16.0
July 15.6 15.8 16.0
August 15.6 15.8 16.1
September 15.6 15.9 16.0
October 15.5 16.0 15.9
November 15.5 16.0 15.9
December 15.5 16.1 15.9
Exhibit 99.4
(Text of graph posted to Ashland Inc.'s website concerning
Ashland Specialty Chemical Company's average sales per ship day)
ASCC- Average Net Sales per ship day ($, thousands)
($,Thousands) 2000 2001 2002 2003
---- ---- ---- ----
January 4,939 4,595 4,368 4,625
February 5,091 4,919 5,188 5,535
March 5,079 4,755 5,005 5,406
April 5,567 4,997 5,180 5,690
May 4,983 4,700 5,212 5,562
June 5,071 5,474 5,579
July 5,092 5,084 5,045
August 4,876 4,643 5,249
September 5,290 5,325 5,593
October 4,937 4,895 5,163
November 5,209 5,250 5,734
December 5,150 4,954 5,265
ASCC Durable Manufacturing Index (%)
2000 2001 2002 2003
---- ---- ---- ----
January 100 101.6 93.6 95.9
February 100.9 100.5 93.8 95.3
March 101.9 100.5 93.8 94.5
April 103 99.3 94.5 93.9
May 104.2 98.2 95.2 94.2
June 104.7 96.9 95.8
July 104.9 96.8 96.2
August 104.3 95.7 96.7
September 105.1 94.4 96
October 104.6 93.3 95.5
November 103.9 93.2 96.2
December 102.9 92.9 94.5
Exhibit 99.5
(Text of graph posted to Ashland Inc.'s website concerning
Ashland Specialty Chemical Company's revenue)
ASCC Revenue - Net Monthly Sales ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 98.8 101.1 96.1 101.7
February 106.9 98.4 103.8 110.7
March 116.8 104.6 100.1 113.5
April 105.8 99.9 114.0 119.5
May 109.6 103.4 114.7 116.8
June 111.6 114.9 111.6
July 101.8 106.8 111.0
August 112.1 106.8 115.5
September 105.8 101.2 111.9
October 108.6 112.6 118.7
November 104.2 105.0 108.9
December 97.8 94.1 105.3
ASCC - 12 Month Net Sales Rolling Average ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 106.1 106.8 103.7 109.8
February 106.8 106.1 104.1 110.3
March 107.3 105.1 103.7 111.5
April 106.9 104.6 104.9 111.9
May 107.5 104.1 105.8 112.1
June 107.7 104.4 105.6
July 107.4 104.8 105.9
August 107.2 104.4 106.6
September 106.9 104.0 107.5
October 107.2 104.3 108.0
November 107.1 104.4 108.4
December 106.7 104.1 109.3
Exhibit 99.6
(Text of graph posted to Ashland Inc.'s website concerning
Ashland Specialty Chemical Company's gross profit)
ASCC Gross Profit % - 3 Month Rolling Average (%)
2000 2001 2002 2003
---- ---- ---- ----
January 34.2 33.3 33.7 33.1
February 33.8 33.2 34.2 33.0
March 33.4 33.2 35.2 32.2
April 33.3 33.2 36.0 32.1
May 33.2 33.2 36.3 31.7
June 33.0 33.1 36.1
July 32.6 32.5 35.8
August 32.9 32.3 35.3
September 33.5 32.2 35.3
October 33.6 32.7 35.0
November 33.5 33.2 34.3
December 32.9 33.5 33.8
ASCC Gross Profit % - 12 Month Rolling Average (%)
2000 2001 2002 2003
---- ---- ---- ----
January 34.6 33.2 33.0 35.0
February 34.3 33.2 33.2 34.7
March 34.1 33.2 33.5 34.4
April 34.0 33.2 33.7 32.7
May 33.9 33.2 34.0 32.5
June 33.7 33.2 34.3
July 33.6 33.2 34.5
August 33.6 33.1 34.8
September 33.7 32.9 35.0
October 33.5 32.9 35.1
November 33.4 33.0 35.0
December 33.2 33.0 35.1
Exhibit 99.7
(Text of graph posted to Ashland Inc.'s website concerning
Valvoline's premium oil sales)
Premium Lubricants % Of Branded Volume
2000 2001 2002 2003
---- ---- ---- ----
January 8.5 10.9 13.0 16.8
February 8.7 11.0 13.4 17.2
March 8.9 11.0 13.9 17.4
April 9.2 10.9 14.5 17.4
May 9.4 11.2 14.7 17.7
June 9.6 11.4 15.0
July 10.0 11.5 15.3
August 10.3 11.6 15.6
September 10.7 11.7 16.1
October 10.6 12.1 16.3
November 10.8 12.4 16.4
December 10.8 12.6 16.6
Exhibit 99.8
(Text of graph posted to Ashland Inc.'s website
concerning Valvoline's revenue)
Valvoline Revenue Monthly ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 87.7 83.5 94.0 96.5
February 95.5 78.0 86.2 93.4
March 102.8 105.1 92.4 111.0
April 82.2 82.5 107.7 101.1
May 92.2 102.7 104.0 105.7
June 89.1 90.3 92.8
July 85.9 97.8 107.8
August 103.0 101.1 108.3
September 100.0 110.1 104.2
October 86.2 91.2 100.3
November 79.5 87.8 88.2
December 75.7 75.7 92.8
Valvoline Revenue 12 Month Rolling Average ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 89.5 89.6 93.0 98.4
February 90.6 88.2 93.7 99.0
March 91.6 88.4 92.7 100.6
April 90.1 88.4 94.8 100.0
May 90.1 89.3 94.9 100.2
June 89.4 89.4 95.1
July 88.9 90.4 95.9
August 89.5 90.2 96.5
September 89.7 91.0 96.0
October 90.1 91.5 96.8
November 90.2 92.2 96.8
December 90.0 92.2 98.2
Exhibit 99.9
(Text of graph posted to Ashland Inc.'s website concerning Valvoline
Instant Oil Change's twelve month rolling average sales)
VIOC Sames Store Sales
(2 Years and Older)
2000 2001 2002 2003
---- ---- ---- ----
January 11.9 12.6 13.3 14.2
February 12.0 12.6 13.4 14.2
March 12.1 12.7 13.4 14.3
April 12.1 12.7 13.5 14.3
May 12.2 12.7 13.6 14.4
June 12.3 12.7 13.7
July 12.4 12.8 13.8
August 12.5 12.8 13.8
September 12.5 12.9 13.9
October 12.6 13.0 14.0
November 12.6 13.1 14.1
December 12.6 13.2 14.1
Exhibit 99.10
(Text of graph posted to Ashland Inc.'s website concerning
APAC's twelve month contract awards)
12 Month Average Construction Awards in 14 APAC States ($, millions)
2000 2001 2002 2003
----- ----- ----- -----
January 1,241 2,081 2,009 1,806
February 1,309 2,188 1,886 1,870
March 1,422 2,111 1,921 1,757
April 1,589 1,973 1,934 1,746
May 1,693 2,114 1,698 1,781
June 1,718 2,076 1,807
July 1,852 1,958 1,874
August 1,861 1,997 1,876
September 1,901 2,029 1,771
October 1,977 1,971 1,814
November 2,022 1,978 1,817
December 2,063 2,008 1,784
Exhibit 99.11
(Text of graph posted to Ashland Inc.'s website concerning
APAC's lost time incident rates & OSHA recordable incident rates)
Lost Time Incident Rates
(Rate = Lost Time Injuries x 200,000/Hours Worked)
APAC Industry
---- --------
1995 0.3 4.5
1996 0.3 4.1
1997 0.3 4.0
1998 0.4 3.4
1999 0.4 3.8
2000 0.4 3.2
2001 0.1 4.0
2002 0.2 3.9
Recordable Incident Rates
APAC Industry
---- --------
1995 6.0 11.9
1996 5.8 10.7
1997 6.0 10.4
1998 6.0 9.6
1999 6.0 9.7
2000 5.1 9.3
2001 4.6 8.9
2002 4.3 8.2
Exhibit 99.12
(Text of graph posted to Ashland Inc.'s website concerning
APAC's monthly revenue and twelve month rolling average revenue)
APAC Monthly Revenue ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 133 88 113 99
February 134 151 161 126
March 165 145 150 148
April 237 206 216 195
May 236 306 289 262
June 229 234 251
July 269 241 231
August 256 324 314
September 242 309 246
October 293 313 259
November 174 216 179
December 153 152 121
APAC 12 Month Rolling Average ($, millions)
2000 2001 2002 2003
---- ---- ---- ----
January 159 206 226 210
February 163 208 227 207
March 169 206 227 207
April 177 203 228 205
May 182 209 226 203
June 189 210 228
July 199 207 227
August 202 213 226
September 209 219 221
October 216 220 216
November 217 224 213
December 210 224 211
Exhibit 99.13
(Text of graph posted to Ashland Inc.'s website concerning APAC's backlog)
APAC Backlog
($,Thousands)
1999 2000 2001 2002 2003
------- --------- --------- --------- ---------
January 792,886 1,209,729 1,645,913 1,571,094 1,760,266
February 804,954 1,319,956 1,798,572 1,591,236 1,872,914
March 872,496 1,387,553 1,855,681 1,658,211 1,799,947
April 883,616 1,373,245 1,835,945 1,826,261 1,812,477
May 889,033 1,410,490 1,775,066 1,747,191 1,793,366
June 911,792 1,409,917 1,745,523 1,797,221
July 926,650 1,423,593 1,704,099 1,821,660
August 945,826 1,416,419 1,684,890 1,807,560
September 947,640 1,396,705 1,629,004 1,691,458
October 935,465 1,356,512 1,546,217 1,675,113
November 913,938 1,348,831 1,510,454 1,672,317
December 1,210,362 1,600,107 1,546,110 1,696,931