11 unchanged sentences
(a) CERCLA and Similar State Law Sites - Under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state laws, Ashland and its subsidiaries may be subject to joint and several liability for cleanup costs in connection with alleged releases of hazardous substances at sites where it has been identified as a “potentially responsible party” (PRP).
−Removed: As of June 30, 2025, Ashland and its subsidiaries have been identified as a PRP by U.S.
+Added: As of December 31, 2025, Ashland and its subsidiaries have been identified as a PRP by U.S.
federal and state authorities, or by private parties seeking contribution, for the cost of environmental investigation and/or cleanup at 53 sites.
17 unchanged sentences
Such actions are with respect to commercial matters, product liability, toxic tort liability and other environmental matters which seek remedies or damages, some of which are for substantial amounts.
−Removed: While Ashland cannot predict with certainty the outcome of such actions, it believes that adequate reserves have been recorded as of June 30, 2025.
+Added: While Ashland cannot predict with certainty the outcome of such actions, it believes that adequate reserves have been recorded as of December 31, 2025.
There is a reasonable possibility that a loss exceeding amounts already recognized may be incurred related to these actions;
−Removed: however, Ashland believes that such potential losses were immaterial as of June 30, 2025.
+Added: however, Ashland believes that such potential losses were immaterial as of December 31, 2025.
During the period covered by this report, there were no material changes from the risk factors previously disclosed in Ashland’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.