
| Ashland Inc. and Consolidated Subsidiaries | Page 4 | |||||||||||||
| OPERATING INFORMATION BY INDUSTRY SEGMENT | ||||||||||||||
| (Unaudited) | ||||||||||||||
| Three months ended | Year ended | |||||||||||||
| September 30 | September 30 | |||||||||||||
| 2003 | 2002 | 2003 | 2002 | |||||||||||
| APAC | ||||||||||||||
| Construction backlog at September 30 (millions) (a) | $ | 1,745 | $ | 1,691 | ||||||||||
| Hot-mix asphalt production (million tons) | 11.5 | 11.4 | 32.5 | 36.7 | ||||||||||
| Aggregate production (million tons) | 9.0 | 8.8 | 28.7 | 31.0 | ||||||||||
| Ready-mix concrete production (million cubic yards) | 0.5 | 0.6 | 2.0 | 2.1 | ||||||||||
| ASHLAND DISTRIBUTION (b) | ||||||||||||||
| Sales per shipping day (millions) | $ | 11.3 | $ | 10.3 | $ | 11.1 | $ | 10.1 | ||||||
| Gross profit as a percent of sales | 15.5% | 15.7% | 15.3% | 16.1% | ||||||||||
| ASHLAND SPECIALTY CHEMICAL (b) | ||||||||||||||
| Sales per shipping day (millions) | $ | 4.7 | $ | 4.5 | $ | 4.6 | $ | 4.3 | ||||||
| Gross profit as a percent of sales | 33.6% | 36.5% | 33.7% | 37.0% | ||||||||||
| VALVOLINE | ||||||||||||||
| Lubricant sales (million gallons) | 51.3 | 53.5 | 193.5 | 199.0 | ||||||||||
| Premium lubricants (percent of U.S. branded volumes) | 18.6% | 16.9% | 18.5% | 16.1% | ||||||||||
| REFINING AND MARKETING (c) | ||||||||||||||
| Refinery runs (thousand barrels per day) | ||||||||||||||
| Crude oil refined | 966 | 931 | 900 | 930 | ||||||||||
| Other charge and blend stocks | 142 | 134 | 133 | 151 | ||||||||||
| Refined product yields (thousand barrels per day) | ||||||||||||||
| Gasoline | 590 | 570 | 554 | 594 | ||||||||||
| Distillates | 290 | 279 | 278 | 293 | ||||||||||
| Asphalt | 77 | 80 | 71 | 73 | ||||||||||
| Other | 157 | 140 | 131 | 127 | ||||||||||
| Total | 1,114 | 1,069 | 1,034 | 1,087 | ||||||||||
| Refined product sales (thousand barrels per day) (d) | 1,445 | 1,387 | 1,345 | 1,321 | ||||||||||
| Refining and wholesale marketing margin (per barrel) (e) | $ | 3.61 | $ | 1.63 | $ | 2.59 | $ | 1.82 | ||||||
| Speedway SuperAmerica (SSA) | ||||||||||||||
| Retail outlets at September 30 | 1,791 | 2,063 | ||||||||||||
| Gasoline and distillate sales (million gallons) | 815 | 943 | 3,423 | 3,622 | ||||||||||
| Gross margin - gasoline and distillates (per gallon) | $ | .1375 | $ | .1063 | $ | .1191 | $ | .1040 | ||||||
| Merchandise sales (millions) (f) | $ | 586 | $ | 645 | $ | 2,281 | $ | 2,381 | ||||||
| Merchandise margin (as a percent of sales) | 24.7% | 23.2% | 24.5% | 24.2% | ||||||||||
| __________ | ||||||||||||||
| (a) | Includes APAC's proportionate share of the backlog of unconsolidated joint ventures. | |||||||||||||
| (b) | Sales are defined as sales and operating revenues. Gross profit is defined as sales and operating revenues, less cost | |||||||||||||
| of sales and operating expenses, and depreciation and amortization relative to manufacturing assets. | ||||||||||||||
| (c) | Amounts represent 100% of MAP's operations, in which Ashland owns a 38% interest. | |||||||||||||
| (d) | Total average daily volume of all refined product sales to MAP's wholesale, branded and retail (SSA) customers. | |||||||||||||
| (e) | Sales revenue less cost of refinery inputs, purchased products and manufacturing expenses, including depreciation. | |||||||||||||
| (f) | Effective January 1, 2003, SSA adopted EITF 02-16, "Accounting by a Customer (Including a Reseller) for Certain | |||||||||||||
| Consideration Received from a Vendor," which requires rebates from vendors to be recorded as reductions to cost of | ||||||||||||||
| sales. Rebates from vendors recorded in SSA merchandise sales for periods prior to January 1, 2003 have not been | ||||||||||||||
| restated and included $41 million in the three months ended September 30, 2002; $46 million in the year ended | ||||||||||||||
| September 30, 2003; and $170 million in the year ended September 30, 2002. | ||||||||||||||