huntsmanco20200902

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 10-Q

(Mark One)
☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2021

OR

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number	Exact Name of Registrant as Specified in its Charter, Principal Office Address and Telephone Number	State of Incorporation or Organization	I.R.S. Employer Identification No.
001-32427	Huntsman Corporation 10003 Woodloch Forest Drive The Woodlands, Texas 77380 (281) 719-6000	Delaware	42-1648585
333-85141	Huntsman International LLC 10003 Woodloch Forest Drive The Woodlands, Texas 77380 (281) 719-6000	Delaware	87-0630358

Securities registered pursuant to Section 12(b) of the Act:

Registrant	Title of each class	Trading Symbol	Name of each exchange on which registered
Huntsman Corporation	Common Stock, par value $0.01 per share	HUN	New York Stock Exchange
Huntsman International LLC	NONE	NONE	NONE

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Huntsman Corporation	Yes ☒	No ☐
Huntsman International LLC	Yes ☒	No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Huntsman Corporation	Yes ☒	No ☐
Huntsman International LLC	Yes ☒	No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Huntsman Corporation	Large accelerated filer ☒	Accelerated filer ☐	Non-accelerated filer ☐	Smaller reporting company ☐	Emerging growth company ☐
Huntsman International LLC	Large accelerated filer ☐	Accelerated filer ☐	Non-accelerated filer ☒	Smaller reporting company ☐	Emerging Growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Huntsman Corporation		☐
Huntsman International LLC		☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Huntsman Corporation	Yes ☐	No ☒
Huntsman International LLC	Yes ☐	No ☒

On April 21, 2021, 221,686,798 shares of common stock of Huntsman Corporation were outstanding and 2,728 units of membership interests of Huntsman International LLC were outstanding. There is no trading market for Huntsman International LLC’s units of membership interests. All of Huntsman International LLC’s units of membership interests are held by Huntsman Corporation.

This Quarterly Report on Form 10-Q presents information for two registrants: Huntsman Corporation and Huntsman International LLC. Huntsman International LLC is a wholly-owned subsidiary of Huntsman Corporation and is the principal operating company of Huntsman Corporation. The information reflected in this Quarterly Report on Form 10-Q is equally applicable to both Huntsman Corporation and Huntsman International LLC, except where otherwise indicated. Huntsman International LLC meets the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and, to the extent applicable, is therefore filing this form with a reduced disclosure format.

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HUNTSMAN CORPORATION AND SUBSIDIARIES

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD

ENDED March 31, 2021

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION	4
ITEM 1.	Condensed Consolidated Financial Statements (Unaudited)	4
	Huntsman Corporation and Subsidiaries:
	Condensed Consolidated Balance Sheets	4
	Condensed Consolidated Statements of Operations	5
	Condensed Consolidated Statements of Comprehensive Income	6
	Condensed Consolidated Statements of Equity	7
	Condensed Consolidated Statements of Cash Flows	8
	Huntsman International LLC and Subsidiaries:
	Condensed Consolidated Balance Sheets	10
	Condensed Consolidated Statements of Operations	11
	Condensed Consolidated Statements of Comprehensive Income	12
	Condensed Consolidated Statements of Equity	13
	Condensed Consolidated Statements of Cash Flows	14
	Huntsman Corporation and Subsidiaries and Huntsman International LLC and Subsidiaries:
	Notes to Condensed Consolidated Financial Statements	16
ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	36
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	49
ITEM 4.	Controls and Procedures	49
PART II	OTHER INFORMATION	50
ITEM 1.	Legal Proceedings	50
ITEM 1A.	Risk Factors	50
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	50
ITEM 6.	Exhibits	51

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FORWARD-LOOKING STATEMENTS

Certain information set forth in this report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding: projections of revenue, expenses, profit, profit margins, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, our liquidity position or other projected financial measures; projected impact of COVID-19 on our operations and future financial results; management’s plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions, divestitures, business separations, spin-offs, or other distributions, strategic opportunities, securities offerings, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets we sell into; new or modified laws, regulations and accounting pronouncements; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that we intend or believe will or may occur in the future. In some cases, forward-looking statements can be identified by terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates” or “intends” or the negative of such terms or other comparable terminology, or by discussions of strategy. We may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by us or on our behalf, are also expressly qualified by these cautionary statements.

All forward-looking statements, including without limitation any projections derived from management’s examination of historical operating trends, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them, but there can be no assurance that management’s expectations, beliefs and projections will be achieved. All forward-looking statements apply only as of the date made. We undertake no obligation to publicly update or revise forward-looking statements whether because of new information, future events or otherwise, except as required by securities and other applicable law.

There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in or contemplated by this report. Any forward-looking statements should be considered in light of the risks set forth in “Part II. Item 1A. Risk Factors” below and “Part I. Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020.

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PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

HUNTSMAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Millions, Except Share and Per Share Amounts)

	*March 31,*			*December 31,*
	*2021*			*2020*
ASSETS
Current assets:
Cash and cash equivalents(a)	$	673		$	1,593
Accounts and notes receivable (net of allowance for doubtful accounts of $26 for both), ($245 and $198 pledged as collateral, respectively)(a)		1,010			902
Accounts receivable from affiliates		12			8
Inventories(a)		1,006			848
Other current assets		228			217
Total current assets		2,929			3,568
Property, plant and equipment, net(a)		2,514			2,505
Investment in unconsolidated affiliates		411			373
Intangible assets, net		422			453
Goodwill		739			533
Deferred income taxes		282			288
Operating lease right-of-use assets		432			445
Other noncurrent assets(a)		571			548
Total assets	$	8,300		$	8,713

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable(a)	$	909		$	842
Accounts payable to affiliates		44			34
Accrued liabilities(a)		505			458
Current portion of debt(a)		57			593
Current operating lease liabilities(a)		49			52
Total current liabilities		1,564			1,979
Long-term debt(a)		1,510			1,528
Deferred income taxes		216			212
Noncurrent operating lease liabilities(a)		401			411
Other noncurrent liabilities(a)		875			910
Total liabilities		4,566			5,040
Commitments and contingencies (Notes 15 and 16)
Equity
Huntsman Corporation stockholders’ equity:
Common stock $0.01 par value, 1,200,000,000 shares authorized, 259,184,140 and 258,520,411 shares issued and 220,712,124 and 220,046,262 shares outstanding, respectively		3			3
Additional paid-in capital		4,085			4,048
Treasury stock, 38,477,091 shares		(731	)		(731	)
Unearned stock-based compensation		(38	)		(19	)
Retained earnings		1,603			1,564
Accumulated other comprehensive loss		(1,359	)		(1,346	)
Total Huntsman Corporation stockholders’ equity		3,563			3,519
Noncontrolling interests in subsidiaries		171			154
Total equity		3,734			3,673
Total liabilities and equity	$	8,300		$	8,713

(a)

At March 31, 2021 and December 31, 2020, respectively, $8 and $2 of cash and cash equivalents, $10 and $6 of accounts and notes receivable (net), $36 and $38 of inventories, $166 and $167 of property, plant and equipment (net), $22 and $23 of other noncurrent assets, $128 and $119 of accounts payable, $13 each of accrued liabilities, $55 and $47 of current portion of debt, $5 each of current operating lease liabilities, nil and $3 of long-term debt, $21 and $17 of noncurrent operating lease liabilities and $82 each of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 6. Variable Interest Entities.”

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Millions, Except Per Share Amounts)

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Revenues:
Trade sales, services and fees, net	$	1,802		$	1,549
Related party sales		35			44
Total revenues		1,837			1,593
Cost of goods sold		1,445			1,296
Gross profit		392			297
Operating expenses:
Selling, general and administrative		207			199
Research and development		38			36
Restructuring, impairment and plant closing costs		24			3
Other operating (income) expense, net		(3	)		5
Total operating expenses		266			243
Operating income		126			54
Interest expense, net		(19	)		(18	)
Equity in income of investment in unconsolidated affiliates		38			2
Fair value adjustments to Venator investment		(19	)		(110	)
Other income, net		7			10
Income (loss) from continuing operations before income taxes		133			(62	)
Income tax expense		(34	)		(7	)
Income (loss) from continuing operations		99			(69	)
Income from discontinued operations, net of tax		1			777
Net income		100			708
Net income attributable to noncontrolling interests		(17	)		(3	)
Net income attributable to Huntsman Corporation	$	83		$	705

Basic income per share:
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders	$	0.38		$	(0.32	)
Income from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax		—			3.48
Net income attributable to Huntsman Corporation common stockholders	$	0.38		$	3.16
Weighted average shares		220.4			223.2

Diluted income per share:
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders	$	0.37		$	(0.32	)
Income from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax		—			3.48
Net income attributable to Huntsman Corporation common stockholders	$	0.37		$	3.16
Weighted average shares		222.6			223.2

Amounts attributable to Huntsman Corporation common stockholders:
Income (loss) from continuing operations	$	82		$	(72	)
Income from discontinued operations, net of tax		1			777
Net income	$	83		$	705

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Millions)

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Net income	$	100		$	708
Other comprehensive loss, net of tax:
Foreign currency translations adjustments		(32	)		(73	)
Pension and other postretirement benefits adjustments		19			52
Other comprehensive loss, net of tax		(13	)		(21	)
Comprehensive income		87			687
Comprehensive income attributable to noncontrolling interests		(17	)		(3	)
Comprehensive income attributable to Huntsman Corporation	$	70		$	684

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(In Millions, Except Share Amounts)

	*Huntsman Corporation Stockholders' Equity*
																	*Accumulated*
	*Shares*					*Additional*					*Unearned*						*other*			*Noncontrolling*
	*common*			*Common*		*paid-in*		*Treasury*			*stock-based*			*Retained*			*comprehensive*			*interests in*		*Total*
	*stock*			*stock*		*capital*		*stock*			*compensation*			*earnings*			*loss*			*subsidiaries*		*equity*
Balance, January 1, 2021		220,046,262		$	3	$	4,048	$	(731	)	$	(19	)	$	1,564		$	(1,346	)	$	154	$	3,673
Net income		—			—		—		—			—			83			—			17		100
Other comprehensive loss		—			—		—		—			—			—			(13	)		—		(13	)
Issuance of nonvested stock awards		—			—		25		—			(25	)		—			—			—		—
Vesting of stock awards		664,818			—		5		—			—			—			—			—		5
Recognition of stock-based compensation		—			—		2		—			6			—			—			—		8
Repurchase and cancellation of stock awards		(202,961	)		—		—		—			—			(6	)		—			—		(6	)
Stock options exercised		204,005			—		5		—			—			(2	)		—			—		3
Dividends declared on common stock ($0.1625 per share)		—			—		—		—			—			(36	)		—			—		(36	)
Balance, March 31, 2021		220,712,124		$	3	$	4,085	$	(731	)	$	(38	)	$	1,603		$	(1,359	)	$	171	$	3,734

	*Huntsman Corporation Stockholders' Equity*
																	*Accumulated*
	*Shares*					*Additional*					*Unearned*						*other*			*Noncontrolling*
	*Common*			*Common*		*paid-in*		*Treasury*			*stock-based*			*Retained*			*comprehensive*			*interests in*		*Total*
	*stock*			*stock*		*capital*		*stock*			*compensation*			*earnings*			*loss*			*subsidiaries*		*equity*
Balance, January 1, 2020		224,295,868		$	3	$	4,008	$	(635	)	$	(17	)	$	690		$	(1,362	)	$	137	$	2,824
Net income		—			—		—		—			—			705			—			3		708
Other comprehensive loss		—			—		—		—			—			—			(21	)		—		(21	)
Issuance of nonvested stock awards		—			—		18		—			(18	)		—			—			—		—
Vesting of stock awards		943,026			—		4		—			—			—			—			—		4
Recognition of stock-based compensation		—			—		2		—			5			—			—			—		7
Repurchase and cancellation of stock awards		(283,975	)		—		—		—			—			(6	)		—			—		(6	)
Stock options exercised		57,209			—		2		—			—			(2	)		—			—		—
Treasury stock repurchased		(5,364,519	)		—		—		(96	)		—			—			—			—		(96	)
Dividends declared on common stock ($0.1625 per share)		—			—		—		—			—			(37	)		—			—		(37	)
Balance, March 31, 2020		219,647,609		$	3	$	4,034	$	(731	)	$	(30	)	$	1,350		$	(1,383	)	$	140	$	3,383

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions)

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Operating Activities:
Net income	$	100		$	708
Less: Income from discontinued operations, net of tax		(1	)		(777	)
Income (loss) from continuing operations		99			(69	)
Adjustments to reconcile income (loss) from continuing operations to net cash used in operating activities from continuing operations:
Equity in income of investment in unconsolidated affiliates		(38	)		(2	)
Unrealized losses on fair value adjustments to Venator investment		19			110
Depreciation and amortization		74			67
Noncash lease expense		17			15
Noncash restructuring and impairment charges		8			—
Deferred income taxes		—			(2	)
Stock-based compensation		9			7
Other, net		2			(1	)
Changes in operating assets and liabilities:
Accounts and notes receivable		(117	)		(34	)
Inventories		(156	)		(92	)
Prepaid expenses		6			6
Other current assets		(16	)		1
Other noncurrent assets		(30	)		(7	)
Accounts payable		94			61
Accrued liabilities		20			(44	)
Taxes paid on sale of Chemical Intermediates Businesses		—			(2	)
Other noncurrent liabilities		(7	)		(54	)
Net cash used in operating activities from continuing operations		(16	)		(40	)
Net cash used in operating activities from discontinued operations		(1	)		(35	)
Net cash used in operating activities		(17	)		(75	)

Investing Activities:
Capital expenditures		(98	)		(61	)
Cash received from sale of businesses		15			1,915
Acquisition of businesses, net of cash acquired		(240	)		(346	)
Other, net		—			3
Net cash (used in) provided by investing activities		(323	)		1,511

(Continued)

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HUNTSMAN CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

(In Millions)

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Financing Activities:
Net borrowings (repayments) on revolving loan facilities	$	9		$	(158	)
Repayments of long-term debt		(548	)		—
Repayments of notes payable		—			(32	)
Dividends paid to noncontrolling interests		—			(23	)
Dividends paid to common stockholders		(37	)		(37	)
Repurchase and cancellation of stock awards		(6	)		(6	)
Repurchase of common stock		—			(96	)
Other, net		3			(2	)
Net cash used in financing activities		(579	)		(354	)
Effect of exchange rate changes on cash		(1	)		(13	)
(Decrease) increase in cash, cash equivalents and restricted cash		(920	)		1,069
Cash, cash equivalents and restricted cash at beginning of period		1,593			525
Cash, cash equivalents and restricted cash at end of period	$	673		$	1,594

Supplemental cash flow information:
Cash paid for interest	$	16		$	5
Cash paid for income taxes		8			36

As of March 31, 2021 and 2020, the amount of capital expenditures in accounts payable was $54 million and $59 million, respectively.

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Millions)

	*March 31,*			*December 31,*
	*2021*			*2020*
ASSETS
Current assets:
Cash and cash equivalents(a)	$	667		$	1,591
Accounts and notes receivable (net of allowance for doubtful accounts of $26 for both), ($245 and $198 pledged as collateral, respectively)(a)		1,010			902
Accounts receivable from affiliates		59			47
Inventories(a)		1,006			848
Other current assets		227			223
Total current assets		2,969			3,611
Property, plant and equipment, net(a)		2,514			2,505
Investment in unconsolidated affiliates		411			373
Intangible assets, net		422			453
Goodwill		739			533
Deferred income taxes		282			288
Operating lease right-of-use assets		432			445
Other noncurrent assets(a)		569			548
Total assets	$	8,338		$	8,756

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable(a)	$	908		$	842
Accounts payable to affiliates		46			36
Accrued liabilities(a)		496			455
Current portion of debt(a)		57			593
Current operating lease liabilities(a)		49			52
Total current liabilities		1,556			1,978
Long-term debt(a)		1,510			1,528
Deferred income taxes		217			214
Noncurrent operating lease liabilities(a)		401			411
Other noncurrent liabilities(a)		867			900
Total liabilities		4,551			5,031
Commitments and contingencies (Notes 15 and 16)
Equity
Huntsman International LLC members’ equity:
Members’ equity, 2,728 units issued and outstanding		3,709			3,701
Retained earnings		1,252			1,203
Accumulated other comprehensive loss		(1,345	)		(1,333	)
Total Huntsman International LLC members’ equity		3,616			3,571
Noncontrolling interests in subsidiaries		171			154
Total equity		3,787			3,725
Total liabilities and equity	$	8,338		$	8,756

(a)

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Millions)

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Revenues:
Trade sales, services and fees, net	$	1,802		$	1,549
Related party sales		35			44
Total revenues		1,837			1,593
Cost of goods sold		1,445			1,296
Gross profit		392			297
Operating expenses:
Selling, general and administrative		204			197
Research and development		38			36
Restructuring, impairment and plant closing costs		24			3
Other operating (income) expense, net		(3	)		5
Total operating expenses		263			241
Operating income		129			56
Interest expense, net		(19	)		(20	)
Equity in income of investment in unconsolidated affiliates		38			2
Fair value adjustments to Venator investment		(19	)		(110	)
Other income, net		7			9
Income (loss) from continuing operations before income taxes		136			(63	)
Income tax expense		(35	)		(7	)
Income (loss) from continuing operations		101			(70	)
Income from discontinued operations, net of tax		1			777
Net income		102			707
Net income attributable to noncontrolling interests		(17	)		(3	)
Net income attributable to Huntsman International LLC	$	85		$	704

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Millions)

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Net income	$	102		$	707
Other comprehensive loss, net of tax:
Foreign currency translations adjustment		(31	)		(73	)
Pension and other postretirement benefits adjustments		19			53
Other comprehensive loss, net of tax		(12	)		(20	)
Comprehensive income		90			687
Comprehensive income attributable to noncontrolling interests		(17	)		(3	)
Comprehensive income attributable to Huntsman International LLC	$	73		$	684

See accompanying notes to condensed consolidated financial statements.

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HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(In Millions, Except Unit Amounts)

	*Huntsman International LLC Members*
	*Members'*							*Accumulated other*			*Noncontrolling*
	*equity*							*comprehensive*			*interests in*		*Total*
	*Units*		*Amount*		*Retained earnings*			*loss*			*subsidiaries*		*equity*
Balance, January 1, 2021		2,728	$	3,701	$	1,203		$	(1,333	)	$	154	$	3,725
Net income		—		—		85			—			17		102
Dividends paid to parent		—		—		(36	)		—			—		(36	)
Other comprehensive loss		—		—		—			(12	)		—		(12	)
Contribution from parent		—		8		—			—			—		8
Balance, March 31, 2021		2,728	$	3,709	$	1,252		$	(1,345	)	$	171	$	3,787

	*Huntsman International LLC Members*
	*Members'*						*Accumulated other*			*Noncontrolling*
	*equity*						*comprehensive*			*interests in*		*Total*
	*Units*		*Amount*		*Retained earnings*		*loss*			*subsidiaries*		*equity*
Balance, January 1, 2020		2,728	$	3,675	$	312	$	(1,352	)	$	137	$	2,772
Net income		—		—