Exhibit 99.2

UNAUDITED PRO FORMA FINANCIAL DATA

On February 15, 2007, Huntsman International LLC (“Huntsman International”), a wholly-owned subsidiary of Huntsman Corporation, and certain of Huntsman International’s subsidiaries (collectively, the “Sellers”) entered into an Asset Purchase Agreement (the “Original Agreement”) with Flint Hills Resources LLC to sell our U.S. base chemicals and polymers businesses (the “U.S. Petrochemical Disposition”), for approximately $456 million in cash, plus the value of inventory on the respective dates of closing. We will retain other elements of working capital, including accounts receivable, accounts payable and certain accrued liabilities, which will be liquidated for cash in the ordinary course of business following the closing. On June 22, 2007, we entered into an Amended and Restated Asset Purchase Agreement (the “Amended Agreement”) with Flint Hills Resources LP and Flint Hills Resources LLC (collectively, “Flint Hills”) to provide, among other things, for the sale of our U.S. polymers business for $150 million of the total sale price, plus the value of associated inventory, for total consideration, net of other adjustments, of approximately $350 million, subject to post-closing adjustment. We completed the sale of our U.S. polymers business on August 1, 2007. The Amended Agreement also provides for the separate closing of our U.S. base chemicals business for the remaining $306 million of the total sale price, plus the value of associated inventory, following the re-start of our Port Arthur, Texas olefins manufacturing facility, which was shut down following a fire on April 29, 2006.

The U.S. Petrochemical Disposition includes our olefins and polymers manufacturing assets located at five U.S. sites: Port Arthur, Odessa and Longview, Texas; Peru, Illinois; and Marysville, Michigan.

As of March 31, 2007, the U.S. base chemicals and polymers assets were treated as a single disposal group and were classified as held and used in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, because these assets were not immediately available for sale in their present condition due to the required repair and restart of the Port Arthur, Texas olefins manufacturing facility. We tested these assets for recoverability using expected future cash flows, including the expected proceeds from the Port Arthur fire insurance recovery, and concluded that the expected future cash flows were in excess of the carrying value of the business expected to be sold. Therefore, we did not recognize an impairment charge as of March 31, 2007. In connection with the closing of the sale of the U.S. polymers business pursuant to the Amended Agreement, we recorded a pretax impairment charge related to the U.S. polymers assets during the three months ended June 30, 2007 of approximately $240 million. We reported the results of operations of our U.S. polymers business as discontinued operations beginning in the second quarter of 2007.

We will continue to assess the U.S. base chemicals assets for recoverability during 2007 through the sale date, which is anticipated to be in the fourth quarter of 2007. Upon restart of the Port Arthur facility, we expect that the carrying value of the U.S. base chemicals business to be sold, which will increase as we rebuild the plant, will exceed the anticipated sale price. As a result, we currently expect to incur an estimated pretax loss in connection with the sale of the U.S. base chemicals business of between $150 million and $175 million.

On June 27, 2006, we sold the assets comprising our U.S. butadiene and MTBE business operated by our Base Chemicals segment. The results of operations of this business were not classified as discontinued operations under applicable accounting rules because of the expected continuing cash flows from the MTBE business we continue to operate in our Polyurethanes segment.

On June 30, 2006, we acquired the textile effects business. The operating results of the textile effects business were consolidated with our operating results beginning July 1, 2006.

The following unaudited pro forma consolidated statements of operations for Huntsman Corporation and Huntsman International for the year ended December 31, 2006 gives effect to the U.S. Petrochemical Disposition, the sale of our U.S.

  

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butadiene and MTBE business and the textile effects acquisition as if these transactions occurred on January 1, 2006. The following unaudited pro forma consolidated statements of operations for the three months ended March 31, 2007 and the years ended December 31, 2005 and 2004 give effect to the U.S. Petrochemical Disposition as if the sale occurred at the beginning of the period presented. The following unaudited pro forma consolidated balance sheet as of March 31, 2007 gives effect to the U.S. Petrochemical Disposition as if the sale transaction occurred on March 31, 2007.

The pro forma information is not necessarily indicative of the financial position or results of operations of future periods or indicative of results that would have actually occurred had the transactions been completed as of the date thereof or as of the beginning of the periods presented therein. The pro forma adjustments, as described in the accompanying notes to the pro forma consolidated balance sheet and statements of operations, are based upon available information and certain assumptions we believe are reasonable. The pro forma financial information should be read in conjunction with the consolidated financial statements included in our and Huntsman International’s Form 10-Q for the three months ended March 31, 2007 and the consolidated financial statements included in our and Huntsman International’s Form 10-K for the year ended December 31, 2006.

 

2

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
THREE MONTHS ENDED MARCH 31, 2007
(Dollars in Millions, Except Per Share Amounts)

		Huntsman Corporation			Pro Forma Adjustments(1)			Pro Forma
Revenues		$	2,647.3		$	(493.8	)	$	2,153.5
Cost of goods sold		2,240.0			(484.0		)	1,756.0
Gross profit		407.3			(9.8		)	397.5
Operating expenses:
Selling, general and administrative		219.0			(16.4		)	202.6
Research and development		33.3						33.3
Other operating expense		5.9			(4.3		)	1.6
Restructuring, impairment and plant closing costs		12.2			(1.1		)	11.1
Total expenses		270.4			(21.8		)	248.6
Operating income		136.9			12.0			148.9
Interest expense, net		(73.8		)				(73.8		)
Loss on accounts receivable securitization program		(5.4		)				(5.4		)
Equity in income of unconsolidated affiliates		2.2						2.2
Loss on early extinguishment of debt		(1.4		)				(1.4		)
Other income		0.5						0.5
Income from continuing operations before income taxes and minority interest		59.0			12.0			71.0
Income tax expense		(13.0		)	(4.3		)(2)	(17.3		)
Minority interest in subsidiaries’ income		(0.4		)				(0.4		)
Income from continuing operations		$	45.6		$	7.7		$	53.3
Basic income per share:
Income from continuing operations		$	0.21		$	0.03		$	0.24
Diluted income per share:
Income from continuing operations		$	0.20		$	0.03		$	0.23

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business is being reported as discontinued operations in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the three months ended March 31, 2007:

 

(2)             Reflects the tax effect of the pro forma adjustments.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

 

3

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
YEAR ENDED DECEMBER 31, 2006
(Dollars in Millions, Except Per Share Amounts)

					Pro Forma Adjustments
		Huntsman Corporation			Disposition of U.S. Base Chemicals and Polymers Business(1)			Disposition of U.S. Butadiene and MTBE Business(2)			Acquisition of Textile Effects Business(3)			Pro Forma
Revenues		$	10,623.6		$	(1,880.9	)	$	(473.5	)	$	546.5		$	8,815.7
Cost of goods sold		9,084.1			(1,757.4		)	(462.2		)	374.5			7,239.0
Gross profit		1,539.5			(123.5		)	(11.3		)	172.0			1,576.7
Operating expenses:
Selling, general and administrative		795.3			(27.2		)	(2.1		)	121.5			887.5
Research and development		115.4									13.2			128.6
Other operating income		(127.7		)	9.2			(0.2		)				(118.7		)
Restructuring, impairment and plant closing costs		20.0			(8.8		)				22.3			33.5
Total expenses		803.0			(26.8		)	(2.3		)	157.0			930.9
Operating income		736.5			(96.7		)	(9.0		)	15.0			645.8
Interest expense, net		(350.7		)							(1.7		)	(352.4		)
Loss on accounts receivable securitization program		(16.1		)	3.6									(12.5		)
Equity in income of unconsolidated affiliates		3.6												3.6
Loss on early extinguishment of debt		(27.1		)										(27.1		)
Other income		1.3			7.4									8.7
Income from continuing operations before income taxes and minority interest		347.5			(85.7		)	(9.0		)	13.3			266.1
Income tax benefit		49.0			—		(4)	—		(4)	(5.0		)	44.0
Minority interest in subsidiaries’ income		(2.9		)							1.7			(1.2		)
Income from continuing operations		$	393.6		$	(85.7	)	$	(9.0	)	$	10.0		$	308.9
Basic income per share:
Income from continuing operations		$	1.78		$	(0.39	)	$	(0.04	)	$	0.05		$	1.40
Diluted income per share:
Income from continuing operations		$	1.69		$	(0.36	)	$	(0.04	)	$	0.04		$	1.33

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business will be reported as discontinued operations in accordance with SFAS

 

4

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) (Continued)
YEAR ENDED DECEMBER 31, 2006
(Dollars in Millions, Except Per Share Amounts)

No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the year ended December 31, 2006:

 

(2)             Reflects the disposition of the U.S. butadiene and MTBE business’ operations as a result of the sale transaction.

(3)             Reflects the operations of the textile effects business for periods prior to its acquisition.

(4)             No adjustments were made to income tax expense as we have a full valuation allowance on our net U.S. deferred tax assets.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

 

5

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
YEAR ENDED DECEMBER 31, 2005
(Dollars in Millions, Except Per Share Amounts)

		Huntsman Corporation			Pro Forma Adjustments(1)			Pro Forma
Revenues		$	10,676.9		$	(2,207.1	)	$	8,469.8
Cost of goods sold		9,061.5			(1,978.5		)	7,083.0
Gross profit		1,615.4			(228.6		)	1,386.8
Operating expenses:
Selling, general and administrative		660.6			(32.5		)	628.1
Research and development		95.5						95.5
Other operating expense		30.2			0.4			30.6
Restructuring, impairment and plant closing costs		114.1			(6.0		)	108.1
Total expenses		900.4			(38.1		)	862.3
Operating income		715.0			(190.5		)	524.5
Interest expense, net		(426.6		)				(426.6		)
Loss on accounts receivable securitization program		(9.0		)				(9.0		)
Equity in income of unconsolidated affiliates		8.2						8.2
Loss on early extinguishment of debt		(322.5		)				(322.5		)
Other expense		(0.1		)				(0.1		)
Loss from continuing operations before income taxes and minority interest		(35.0		)	(190.5		)	(225.5		)
Income tax benefit		6.1			—(2		)	6.1
Minority interest in subsidiaries’ income		(1.7		)				(1.7		)
Loss from continuing operations		$	(30.6	)	$	(190.5	)	$	(221.1	)
Basic and diluted loss per share:
Loss from continuing operations		$	(0.33	)	$	(0.87	)	$	(1.20	)

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business will be reported as discontinued operations in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the year ended December 31, 2005:

 

(2)             No adjustments were made to income tax expense as we have a full valuation allowance on our net U.S. deferred tax assets.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

 

6

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
YEAR ENDED DECEMBER 31, 2004
(Dollar in Millions, Except Per Share Amounts)

		Huntsman Corporation			Pro Forma Adjustments(1)			Pro Forma
Revenues		$	9,562.5		$	(1,945.9	)	$	7,616.6
Cost of goods sold		8,358.7			(1,811.4		)	6,547.3
Gross profit		1,203.8			(134.5		)	1,069.3
Operating expenses:
Selling, general and administrative		638.8			(51.5		)	587.3
Research and development		96.2						96.2
Other operating income		(77.0		)	1.2			(75.8		)
Restructuring, impairment and plant closing costs		282.9			(8.9		)	274.0
Total expenses		940.9			(59.2		)	881.7
Operating income		262.9			(75.3		)	187.6
Interest expense, net		(612.6		)				(612.6		)
Loss on accounts receivable securitization program		(13.3		)				(13.3		)
Equity in income of unconsolidated affiliates		4.0						4.0
Loss on early extinguishment of debt		(25.6		)				(25.6		)
Other expense		(0.2		)				(0.2		)
Loss from continuing operations before income taxes and minority interest		(384.8		)	(75.3		)	(460.1		)
Income tax benefit		72.0			—		(2)	72.0
Minority interest in subsidiaries’ income		(7.2		)				(7.2		)
Loss from continuing operations		$	(320.0	)	$	(75.3	)	$	(395.3	)
Basic and diluted loss per share:
Loss from continuing operations		$	(1.85	)	$	(0.34	)	$	(2.19	)

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business will be reported as discontinued operations in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the year ended December 31, 2004:

 

(2)             No adjustments were made to income tax expense as we have a full valuation allowance on our net U.S. deferred tax assets.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

 

7

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)
AS OF MARCH 31, 2007
(Dollars in Millions)

		Huntsman Corporation			Pro Forma Adjustments			Pro Forma
ASSETS
Current assets:
Cash and cash equivalents		$	143.5		$	689.9	(2)	$	833.4
Accounts receivable, net		1,385.1						1,385.1
Accounts receivable from affiliates		15.7						15.7
Inventories, net		1,581.8			(201.7		)(1)	1,380.1
Prepaid expenses		46.2						46.2
Deferred income taxes		62.9						62.9
Other current assets		170.5						170.5
Total current assets		3,405.7			488.2			3,893.9
Property plant and equipment, net		4,106.7			(642.6		)(1)	3,464.1
Investment in unconsolidated affiliates		212.7						212.7
Intangible assets, net		186.2						186.2
Goodwill		91.7						91.7
Deferred income taxes		208.3			69.7		(4)	278.0
Other noncurrent assets		402.1			(67.2		)(1)	334.9
Total assets		$	8,613.4		$	(151.9	)	$	8,461.5
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	1,104.5					$	1,104.5
Accounts payable to affiliates		12.4						12.4
Accrued liabilities		821.6			$	(7.5	)(1)
					(13.5		)(3)	800.6
Deferred income taxes		8.1						8.1
Current portion of long-term debt		178.8			(0.5		)(1)	178.3
Total current liabilities		2,125.4			(21.5		)	2,103.9
Long-term debt		3,516.0			(2.4		)(1)	3,513.6
Deferred income taxes		193.5						193.5
Other noncurrent liabilities		963.8			(1.3		)(1)	962.5
Total liabilities		6,798.7			(25.2		)	6,773.5
Minority interests		30.3						30.3
Stockholders’ equity
Common stock		2.2						2.2
Mandatory convertible preferred stock		287.5						287.5
Additional paid-in capital		2,810.5						2,810.5
Unearned stock-based compensation		(19.2		)				(19.2		)
Accumulated deficit		(1,255.4		)	(126.7		)(4)	(1,382.1		)
Accumulated other comprehensive loss		(41.2		)				(41.2		)
Total stockholders’ equity		1,784.4			(126.7		)	1,657.7
Total liabilities and stockholders’ equity		$	8,613.4		$	(151.9	)	$	8,461.5

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S. base chemicals business pursuant to the U.S. Petrochemical Disposition.

 

8

 

HUNTSMAN CORPORATION AND SUBSIDIARIES
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) (Continued)
AS OF MARCH 31, 2007
(Dollars in Millions)

(2)             Reflects the net sale consideration in connection with the U.S. Petrochemical Disposition, based on March 31, 2007 book inventory amounts. The net sale consideration will change based on the actual value of the inventory on the respective closing dates with respect to each business.

(3)             Reflects the adjustment of liabilities associated with the U.S. Petrochemical Disposition.

(4)             Reflects the preliminary loss on the U.S. Petrochemical Disposition as of March 31, 2007, net of taxes of $69.7 million. This loss on the U.S. Petrochemical Disposition is based on March 31, 2007 balance sheet amounts and does not include anticipated capital expenditures that will be required to rebuild the Port Arthur, Texas, olefins manufacturing facility that was damaged by fire.

 

9

 

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

THREE MONTHS ENDED MARCH 31, 2007

(Dollars in Millions)

		Huntsman
		International			Pro Forma
		LLC			Adjustments (1)			Pro Forma
Revenues		$	2,647.3		$	(493.8	)	$	2,153.5
Cost of goods sold		2,238.5			(484.0		)	1,754.5
Gross profit		408.8			(9.8		)	399.0
Operating expenses:
Selling, general and administrative		219.0			(16.4		)	202.6
Research and development		33.3						33.3
Other operating expense		5.9			(4.3		)	1.6
Restructuring, impairment and plant closing costs		12.2			(1.1		)	11.1
Total expenses		270.4			(21.8		)	248.6
Operating income		138.4			12.0			150.4
Interest expense, net		(74.2		)				(74.2		)
Loss on accounts receivable securitization program		(5.4		)				(5.4		)
Equity in income of unconsolidated affiliates		2.2						2.2
Loss on early extinguishment of debt		(1.8		)				(1.8		)
Other income		0.5						0.5
Income from continuing operations before income taxes and minority interest		59.7			12.0			71.7
Income tax expense		(24.2		)	(4.3		)(2)	(28.5		)
Minority interest in subsidiaries’ income		(0.4		)				(0.4		)
Income from continuing operations		$	35.1		$	7.7		$	42.8

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business is being reported as discontinued operations in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the three months ended March 31, 2007:

 

(2)             Reflects the tax effect of the pro forma adjustments.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

10

 

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

YEAR ENDED DECEMBER 31, 2006

(Dollars in Millions)

					Pro Forma Adjustments
					Disposition of
					U.S. Base			Disposition of U.S.
		Huntsman			Chemicals and			Butadiene			Acquisition of
		International			Polymers			and MTBE			Textile Effects
		LLC			Business (1)			Business (2)			Business (3)			Pro Forma
Revenues		$	10,623.6		$	(1,880.9	)	$	(473.5	)	$	546.5		$	8,815.7
Cost of goods sold		9,067.1			(1,757.4		)	(462.2		)	374.5			7,222.0
Gross profit		1,556.5			(123.5		)	(11.3		)	172.0			1,593.7
Operating expenses:
Selling, general and administrative		794.8			(27.2		)	(2.1		)	121.5			887.0
Research and development		115.4									13.2			128.6
Other operating income		(127.7		)	9.2			(0.2		)				(118.7		)
Restructuring, impairment and plant closing costs		20.0			(8.8		)				22.3			33.5
Total expenses		802.5			(26.8		)	(2.3		)	157.0			930.4
Operating income		754.0			(96.7		)	(9.0		)	15.0			663.3
Interest expense, net		(355.2		)							(1.7		)	(356.9		)
Loss on accounts receivable securitization program		(16.1		)	3.6									(12.5		)
Equity in income of unconsolidated affiliates		3.6												3.6
Loss on early extinguishment of debt		(39.0		)										(39.0		)
Other income		1.3			7.4									8.7
Income from continuing operations before income taxes and minority interest		348.6			(85.7		)	(9.0		)	13.3			267.2
Income tax benefit		30.0			—		(4)	—		(4)	(5.0		)	25.0
Minority interest in subsidiaries’ income		(2.9		)							1.7			(1.2		)
Income from continuing operations		$	375.7		$	(85.7	)	$	(9.0	)	$	10.0		$	291.0

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business will be reported as discontinued operations in accordance with SFAS

11

 

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) (Continued)

YEAR ENDED DECEMBER 31, 2006

(Dollars in Millions)

No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the year ended December 31, 2006:

 

(2)             Reflects the disposition of the U.S. butadiene and MTBE business’ operations as a result of the sale transaction.

(3)             Reflects the operations of the textile effects business for periods prior to its acquisition.

(4)             No adjustments were made to income tax expense as we have a full valuation allowance on our net U.S. deferred tax assets.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

 

12

 

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

YEAR ENDED DECEMBER 31, 2005

(Dollars in Millions)

		Huntsman
		International			Pro Forma
		LLC			Adjustments (1)			Pro Forma
Revenues		$	10,676.9		$	(2,207.1	)	$	8,469.8
Cost of goods sold		9,043.9			(1,978.5		)	7,065.4
Gross profit		1,633.0			(228.6		)	1,404.4
Operating expenses:
Selling, general and administrative		661.4			(32.5		)	628.9
Research and development		95.5						95.5
Other operating expense		30.2			0.4			30.6
Restructuring, impairment and plant closing costs		114.1			(6.0		)	108.1
Total expenses		901.2			(38.1		)	863.1
Operating income		731.8			(190.5		)	541.3
Interest expense, net		(425.6		)				(425.6		)
Loss on accounts receivable securitization program		(9.0		)				(9.0		)
Equity in income of unconsolidated affiliates		8.2						8.2
Loss on early extinguishment of debt		(167.3		)				(167.3		)
Other expense		(0.2		)				(0.2		)
Income (loss) from continuing operations before income taxes and minority interest		137.9			(190.5		)	(52.6		)
Income tax (expense) benefit		(13.2		)	18.7		(2)	5.5
Minority interest in subsidiaries’ income		(1.7		)				(1.7		)
Income (loss) from continuing operations		$	123.0		$	(171.8	)	$	(48.8	)

(1)             Reflects the disposition of the U.S. polymers business operations and the anticipated disposition of the U.S base chemicals business operations pursuant to the U.S. Petrochemical Disposition. Beginning in the second quarter of 2007, the U.S. polymers business will be reported as discontinued operations in accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. The following are summarized results of the U.S. polymers business for the year ended December 31, 2005:

 

(2)             Reflects the tax effect of the pro forma adjustments.

NOTE: The above pro forma statement of operations does not reflect the expected loss on the U.S. Petrochemical Disposition or the reduction to interest expense resulting from the use of the sale proceeds therefrom.

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