Cabot (CBT) - 2023 Q2 - Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Critical Accounting Policies Selling and administrative expenses decreased by $8 million and $19 million in the second quarter of fiscal 2023 and for the six months ended March 31, 2023, respectively, compared to the same periods of fiscal 2022, primarily due to a decrease in the accrual for incentive compensation in fiscal 2023 and costs associated with the Purification Solutions business in fiscal 2022 that did n ...