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): November 26, 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 November 26, 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.
-2-
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: November 26, 2003 /s/ J. Marvin Quin
-----------------------------------
Name: J. Marvin Quin
Title: Senior Vice President
and Chief Financial Officer
-3-
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 ($, Millions)
2000 2001 2002 2003
------ ------ ------ ------
January 11.733 10.993 9.537 10.815
February 12.813 11.712 10.084 11.538
March 12.898 11.378 10.480 11.586
April 13.944 11.713 10.308 11.780
May 12.995 11.756 10.493 11.444
June 13.209 10.630 10.642 11.686
July 12.664 10.330 9.950 11.019
August 12.377 10.230 10.264 11.357
September 12.745 10.636 10.738 11.513
October 12.163 9.845 10.390 11.428
November 12.215 9.767 11.025
December 11.526 8.529 9.392
ADC Non-Durable Manufacturing (%)
2000 2001 2002 2003
----- ---- ---- ----
January 100.0 99.0 96.6 96.1
February 100.6 99.1 96.8 96.3
March 101.3 98.1 97.3 96.4
April 101.5 98.1 97.3 95.6
May 101.4 97.9 97.5 95.6
June 101.6 97.6 97.7 95.4
July 101.1 97.5 98.2 95.5
August 100.5 97.4 97.8 95.0
September 100.7 97.3 97.8 95.1
October 100.2 97.1 96.9 94.4
November 100.0 96.4 96.7
December 99.6 95.8 96.1
Exhibit 99.2
(Text of graph posted to Ashland Inc.'s website concerning Ashland
Distribution Company's revenue)
ADC Revenue - Monthly Sales ($, 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 260 291 223 213 245
July 241 253 217 219 242
August 256 285 235 226 238
September 253 255 202 215 242
October 257 268 226 239 263
November 257 244 195 209
December 254 219 162 188
ADC - 12 Month Rolling Average ($, Millions)
2000 2001 2002 2003
---- ---- ---- ----
January 251 265 222 218
February 254 262 220 221
March 257 258 216 223
April 258 255 216 225
May 262 255 212 226
June 264 249 211 228
July 265 246 211 230
August 268 242 210 231
September 268 237 211 234
October 269 234 212 236
November 268 230 214
December 265 225 216
Exhibit 99.3
(Text of graph posted to Ashland Inc.'s website concerning Ashland
Distribution Company's gross profit)
ADC Gross Profit (%) - 3 Month Rolling Average
2000 2001 2002 2003
---- ---- ---- ----
January 15.4 16.1 17.2 15.9
February 15.4 16.3 16.6 15.5
March 15.3 16.4 16.1 15.0
April 15.1 16.2 15.8 14.9
May 15.1 15.6 15.7 15.0
June 15.0 15.5 15.7 15.1
July 15.0 15.6 15.7 15.3
August 15.1 15.9 15.7 15.4
September 15.4 16.1 16.0 15.5
October 15.3 16.2 15.7 15.0
November 15.6 16.7 15.9
December 15.6 16.9 15.9
ADC Gross Profit (%) - 12 Month Rolling Average
2000 2001 2002 2003
---- ---- ---- ----
January 15.8 15.4 16.2 15.8
February 15.7 15.5 16.1 15.7
March 15.6 15.5 16.1 15.6
April 15.5 15.6 16.1 15.5
May 15.5 15.6 16.2 15.5
June 15.4 15.7 16.2 15.5
July 15.3 15.8 16.2 15.4
August 15.2 15.8 16.2 15.4
September 15.2 15.9 16.1 15.3
October 15.2 16.0 16.1 15.3
November 15.3 16.1 16.0
December 15.3 16.2 15.9
Exhibit 99.4
(Text of graph posted to Ashland Inc.'s website concerning Ashland
Specialty Chemical Company's average sales per ship day)
ASCC Average Net Sales per Ship Day ($, Thousands)
2000 2001 2002 2003
----- ----- ----- -----
January 4,245 3,711 3,656 3,904
February 4,282 4,070 4,421 4,724
March 4,314 4,014 4,277 4,674
April 4,760 4,257 4,409 4,906
May 4,255 3,988 4,414 4,783
June 4,328 4,739 4,794 4,992
July 4,274 4,352 4,214 4,546
August 4,095 4,018 4,429 4,244
September 4,447 4,644 4,749 5,520
October 4,134 4,187 4,425 4,869
November 4,355 4,419 4,872
December 4,292 4,200 4,433
ASCC Durable Manufacturing Index (%)
2000 2001 2002 2003
------ ------ ----- ------
January 99.97 100.91 94.30 98.27
February 100.56 99.97 94.63 97.99
March 101.65 100.11 94.88 97.11
April 102.78 99.26 95.50 96.32
May 103.96 98.29 96.20 96.30
June 104.39 97.06 97.01 97.09
July 104.16 96.87 96.82 98.27
August 103.84 95.61 97.57 98.42
September 104.61 94.40 97.32 100.26
October 104.01 93.62 97.04 100.29
November 103.24 93.81 97.98
December 102.38 93.88 97.10
Exhibit 99.5
(Text of graph posted to Ashland Inc.'s website concerning Ashland
Specialty Chemical Company's revenue)
ASCC Revenue - Net Monthly Sales ($, Millions)
2000 2001 2002 2003
---- ---- ----- -----
January 84.9 81.6 80.4 85.9
February 89.9 81.4 88.4 94.5
March 99.2 88.3 85.5 98.2
April 90.4 85.1 97.0 103.0
May 93.6 87.7 97.1 100.5
June 95.2 99.5 95.9 104.8
July 85.5 91.4 92.7 100.0
August 94.2 92.4 97.4 106.1
September 88.9 88.2 95.0 93.8
October 91.0 96.3 101.8 112.0
November 87.1 88.4 92.6
December 81.6 79.8 88.7
ASCC - 12 Month Net Sales Rolling Average ($, Millions)
2000 2001 2002 2003
---- ---- ---- ----
January 91.4 89.9 88.2 93.2
February 91.7 89.1 88.8 93.7
March 91.9 88.2 88.6 94.7
April 91.5 87.8 89.6 95.2
May 91.9 87.3 90.4 95.5
June 92.1 87.7 90.1 96.3
July 91.7 88.2 90.2 96.9
August 91.3 88.0 90.6 97.6
September 91.0 87.9 91.2 97.5
October 91.0 88.4 91.6 98.3
November 90.7 88.5 92.0
December 90.1 88.3 92.7
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 36.0 33.9 36.0 34.2
February 35.1 33.4 36.6 34.2
March 34.4 33.2 37.6 33.4
April 34.4 33.8 38.4 33.1
May 34.4 34.3 38.5 32.5
June 34.0 34.4 38.0 33.1
July 33.2 34.1 37.3 33.7
August 33.3 34.4 36.5 34.4
September 34.1 34.9 36.4 33.7
October 34.3 35.5 36.2 33.4
November 34.4 35.7 35.5
December 33.8 36.0 34.9
ASCC Gross Profit (%) - 12 Month Rolling Average
2000 2001 2002 2003
---- ---- ---- ----
January 36.4 34.0 34.8 36.5
February 36.3 33.9 35.2 36.2
March 36.1 33.8 35.7 35.7
April 35.8 33.8 36.0 35.2
May 35.4 33.9 36.3 34.7
June 34.9 33.9 36.6 34.4
July 34.6 34.0 36.8 34.3
August 34.6 34.2 36.8 34.1
September 34.7 34.1 37.0 33.8
October 34.5 34.3 37.0 33.6
November 34.3 34.5 36.8
December 34.1 34.6 36.7
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 11.2 13.2 17.0
February 8.6 11.4 13.5 17.4
March 8.9 11.6 13.9 17.5
April 9.2 11.5 14.4 17.5
May 9.3 11.8 14.7 17.8
June 9.5 12.0 15.1 18.1
July 9.9 12.0 15.3 18.2
August 10.2 12.2 15.7 18.4
September 10.6 12.4 16.2 18.5
October 10.7 12.7 16.4 18.5
November 10.9 12.9 16.6
December 11.1 13.0 16.8
Exhibit 99.8
(Text of graph posted to Ashland Inc.'s website
concerning Valvoline's revenue)
Valvoline Revenue Monthly ($, Millions)
2000 2001 2002 2003
----- ----- ----- -----
January 87.7 83.5 94.0 96.5
February 95.5 78.0 86.2 93.4
March 102.8 105.1 92.4 111.0
April 82.2 82.5 107.7 101.1
May 92.2 102.7 104.0 105.7
June 89.1 90.3 92.8 99.9
July 85.9 97.8 107.8 110.4
August 103.0 101.1 108.3 105.6
September 100.0 110.1 104.2 129.8
October 86.2 91.2 100.3 110.7
November 79.5 87.8 88.2
December 75.7 75.7 92.8
Valvoline Revenue 12 Month Rolling Average ($, 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 95.1 100.8
July 88.9 90.4 95.9 101.0
August 89.5 90.2 96.5 100.8
September 89.7 91.0 96.0 102.9
October 90.1 91.5 96.8 103.8
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 ($, Millions)
(2 Years and Older)
2000 2001 2002 2003
---- ---- ---- ----
January 11.9 12.6 13.3 14.2
February 12.0 12.6 13.4 14.2
March 12.1 12.7 13.4 14.3
April 12.1 12.7 13.5 14.3
May 12.2 12.7 13.6 14.4
June 12.3 12.7 13.7 14.5
July 12.4 12.8 13.8 14.5
August 12.5 12.8 13.8 14.5
September 12.5 12.9 13.9 14.6
October 12.6 13.0 14.0 14.6
November 12.6 13.1 14.1
December 12.6 13.2 14.1
Exhibit 99.10
(Text of graph posted to Ashland Inc.'s website concerning
APAC's 12 month average contract awards)
2000 2001 2002 2003
----- ----- ----- -----
January 1,241 2,081 2,009 1,806
February 1,309 2,188 1,886 1,870
March 1,422 2,111 1,921 1,757
April 1,589 1,973 1,934 1,746
May 1,693 2,114 1,698 1,781
June 1,718 2,076 1,807 1,709
July 1,852 1,958 1,874 1,710
August 1,861 1,997 1,876 1,745
September 1,901 2,029 1,771 1,764
October 1,977 1,971 1,814 1,748
November 2,022 1,978 1,817
December 2,063 2,008 1,784
Exhibit 99.11
(Text of graph posted to Ashland Inc.'s website concerning APAC's lost
time incident rates and OSHA recordable incident rates)
Lost Time Incident Rates
(Rate = Lost Time Injuries x 200,000/Hours Worked)
APAC Industry
---- --------
1995 0.3 4.5
1996 0.3 4.1
1997 0.3 4.0
1998 0.4 3.4
1999 0.4 3.8
2000 0.4 3.2
2001 0.1 4.0
2002 0.2 3.9
2003 0.2
Recordable Incident Rates
APAC Industry
---- --------
1995 6.0 11.9
1996 5.8 10.7
1997 6.0 10.4
1998 6.0 9.6
1999 6.0 9.7
2000 5.1 9.3
2001 4.6 8.9
2002 4.3 8.2
2003 4.2
Exhibit 99.12
(Text of graph posted to Ashland Inc.'s website concerning APAC's
monthly revenue and twelve month rolling average revenue)
APAC Monthly Revenue ($, 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 229 234 251 226
July 269 241 231 236
August 256 324 314 311
September 242 309 246 238
October 293 313 259 309
November 174 216 179
December 153 152 121
APAC 12 Month Rolling Average ($, Millions)
2000 2001 2002 2003
---- ---- ---- ----
January 159 206 226 210
February 163 208 227 207
March 169 206 227 207
April 177 203 228 205
May 182 209 226 203
June 189 210 228 201
July 199 207 227 201
August 202 213 226 201
September 209 219 221 200
October 216 220 216 204
November 217 224 213
December 210 224 211
Exhibit 99.13
(Text of graph posted to Ashland Inc.'s website concerning APAC's backlog)
APAC Backlog
($,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 1,709
July 1,852 1,958 1,874 1,710
August 1,861 1,997 1,876 1,745
September 1,901 2,029 1,771 1,764
October 1,977 1,971 1,814 1,748
November 2,022 1,978 1,817
December 2,063 2,008 1,784