| Schedule I-Condensed Financial Information of Registrant |
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December 31, |
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2011 |
|
2010 |
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ASSETS
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|
Cash and cash equivalents
|
|
$ |
323 |
|
$ |
405 |
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|
Receivable from affiliate
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|
14 |
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|
14 |
|
|
Note receivable from affiliate
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|
100 |
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|
100 |
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| |
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Total current assets
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|
437 |
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|
519 |
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Note receivable from affiliate-long-term
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|
435 |
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|
435 |
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Investment in and advances to affiliates
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|
944 |
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|
938 |
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| |
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Total assets
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$ |
1,816 |
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$ |
1,892 |
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| |
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LIABILITIES AND STOCKHOLDERS' EQUITY
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Accounts payable
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$ |
— |
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$ |
1 |
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|
Payable to affiliate
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|
143 |
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|
86 |
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Accrued liabilities
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2 |
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2 |
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| |
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Total current liabilities
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145 |
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89 |
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Other long term liabilities
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9 |
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13 |
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| |
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Total liabilities
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154 |
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102 |
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STOCKHOLDERS' EQUITY
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Common stock, $0.01 par value, 1,200,000,000 shares authorized, 241,836,001 and 239,549,365 issued and 235,746,087 and 236,799,455 outstanding as of December 31, 2011 and 2010, respectively
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2 |
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2 |
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Additional paid-in capital
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3,228 |
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3,186 |
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Treasury stock, 4,043,526 shares at December 31, 2011
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(50 |
) |
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— |
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Unearned stock-based compensation
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(12 |
) |
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(11 |
) |
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Accumulated deficit
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|
(947 |
) |
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(1,090 |
) |
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Accumulated other comprehensive loss
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(559 |
) |
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(297 |
) |
| |
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Total stockholders' equity
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1,662 |
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|
1,790 |
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| |
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Total liabilities and stockholders' equity
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$ |
1,816 |
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$ |
1,892 |
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Year ended December 31, |
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2011 |
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2010 |
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2009 |
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Selling, general and administrative
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$ |
(15 |
) |
$ |
(15 |
) |
$ |
(2 |
) |
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Interest income (expense), net
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|
13 |
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19 |
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(2 |
) |
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Equity in income (loss) of subsidiaries
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|
170 |
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|
165 |
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(431 |
) |
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Dividend income—affiliate
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|
79 |
|
|
— |
|
|
23 |
|
|
(Expense) income associated with the Merger
|
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|
— |
|
|
(4 |
) |
|
835 |
|
|
Loss on early extinguishment of debt
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|
— |
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|
(146 |
) |
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— |
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|
Income tax benefit (expense)
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— |
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|
8 |
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(309 |
) |
| |
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Net income
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$ |
247 |
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$ |
27 |
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$ |
114 |
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| |
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Net income
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$ |
247 |
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$ |
27 |
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$ |
114 |
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Other comprehensive (loss) income from subsidiaries
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(262 |
) |
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(10 |
) |
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202 |
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| |
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Comprehensive (loss) income
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$ |
(15 |
) |
$ |
17 |
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$ |
316 |
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Huntsman Corporation Stockholders |
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Shares |
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Accumulated
other
comprehensive
(loss) income |
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Common
Stock |
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Common
stock |
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Additional
paid-in
capital |
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Treasury
Stock |
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Unearned
stock-based
compensation |
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Accumulated
deficit |
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Total
equity |
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Balance, January 1, 2009
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233,553,515 |
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$ |
2 |
|
$ |
3,141 |
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$ |
— |
|
$ |
(13 |
) |
$ |
(1,031 |
) |
$ |
(489 |
) |
$ |
1,610 |
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Net income
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|
— |
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— |
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— |
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— |
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— |
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|
114 |
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|
— |
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|
114 |
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Other comprehensive income
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— |
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— |
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— |
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— |
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— |
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— |
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|
202 |
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|
202 |
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Issuance of nonvested stock awards
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— |
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— |
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8 |
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— |
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(8 |
) |
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— |
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— |
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— |
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Vesting of stock awards
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|
742,565 |
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— |
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|
— |
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— |
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— |
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— |
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|
— |
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|
— |
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Recognition of stock-based compensation
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|
— |
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— |
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|
6 |
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— |
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|
10 |
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— |
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— |
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|
16 |
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Repurchase and cancellation of stock awards
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(214,590 |
) |
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— |
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— |
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— |
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— |
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(2 |
) |
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— |
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|
(2 |
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Dividends declared on common stock
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|
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
(96 |
) |
|
— |
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|
(96 |
) |
| |
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Balance, December 31, 2009
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|
234,081,490 |
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|
2 |
|
|
3,155 |
|
|
— |
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|
(11 |
) |
|
(1,015 |
) |
|
(287 |
) |
|
1,844 |
|
|
Net income
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
27 |
|
|
— |
|
|
27 |
|
|
Other comprehensive loss
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(10 |
) |
|
(10 |
) |
|
Consolidation of a variable interest entity
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|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
Issuance of nonvested stock awards
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|
— |
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|
— |
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|
12 |
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|
— |
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|
(12 |
) |
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— |
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|
— |
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|
— |
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Vesting of stock awards
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|
1,939,524 |
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|
— |
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|
9 |
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|
— |
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|
— |
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|
— |
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|
— |
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|
9 |
|
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Recognition of stock-based compensation
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|
|
— |
|
|
— |
|
|
3 |
|
|
— |
|
|
12 |
|
|
— |
|
|
— |
|
|
15 |
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|
Repurchase and cancellation of stock awards
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|
(431,052 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
(6 |
) |
|
— |
|
|
(6 |
) |
|
Stock options exercised
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|
1,209,493 |
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|
— |
|
|
3 |
|
|
— |
|
|
— |
|
|
— |
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|
— |
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|
3 |
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|
Excess tax benefit related to stock-based compensation
|
|
|
— |
|
|
— |
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|
4 |
|
|
— |
|
|
— |
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|
— |
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|
— |
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|
4 |
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|
Dividends declared on common stock
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|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
(96 |
) |
|
— |
|
|
(96 |
) |
| |
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|
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|
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|
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|
Balance, December 31, 2010
|
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|
236,799,455 |
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|
2 |
|
|
3,186 |
|
|
— |
|
|
(11 |
) |
|
(1,090 |
) |
|
(297 |
) |
|
1,790 |
|
|
Net income
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
247 |
|
|
— |
|
|
247 |
|
|
Dividend paid to noncontrolling interest
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Other comprehensive loss
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(262 |
) |
|
(262 |
) |
|
Consolidation of a variable interest entity
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Issuance of nonvested stock awards
|
|
|
— |
|
|
— |
|
|
11 |
|
|
— |
|
|
(11 |
) |
|
— |
|
|
— |
|
|
— |
|
|
Vesting of stock awards
|
|
|
2,229,418 |
|
|
— |
|
|
13 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
13 |
|
|
Recognition of stock-based compensation
|
|
|
— |
|
|
— |
|
|
5 |
|
|
— |
|
|
10 |
|
|
— |
|
|
— |
|
|
15 |
|
|
Repurchase of common stock
|
|
|
(4,043,526 |
) |
|
— |
|
|
— |
|
|
(50 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(50 |
) |
|
Repurchase and cancellation of stock awards
|
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|
(507,624 |
) |
|
— |
|
|
— |
|
|
— |
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|
— |
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|
(8 |
) |
|
— |
|
|
(8 |
) |
|
Stock options exercised
|
|
|
1,268,364 |
|
|
— |
|
|
3 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3 |
|
|
Excess tax benefit related to stock-based compensation
|
|
|
— |
|
|
— |
|
|
10 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
10 |
|
|
Dividends declared on common stock
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(96 |
) |
|
— |
|
|
(96 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2011
|
|
|
235,746,087 |
|
$ |
2 |
|
$ |
3,228 |
|
$ |
(50 |
) |
$ |
(12 |
) |
$ |
(947 |
) |
$ |
(559 |
) |
$ |
1,662 |
|
| |
|
|
|
|
|
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|
Year ended December 31, |
|
|
|
2011 |
|
2010 |
|
2009 |
|
|
Operating Activities:
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
247 |
|
$ |
27 |
|
$ |
114 |
|
|
Equity in (income) loss of subsidiaries
|
|
|
(170 |
) |
|
(165 |
) |
|
431 |
|
|
Loss on early extinguishment of debt
|
|
|
— |
|
|
146 |
|
|
— |
|
|
Stock-based compensation
|
|
|
1 |
|
|
3 |
|
|
4 |
|
|
Noncash interest income
|
|
|
(13 |
) |
|
(19 |
) |
|
(17 |
) |
|
Changes in operating assets and liabilities
|
|
|
62 |
|
|
(4 |
) |
|
175 |
|
| |
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities
|
|
|
127 |
|
|
(12 |
) |
|
707 |
|
| |
|
|
|
|
|
|
|
|
Investing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
Loan to affiliate
|
|
|
(105 |
) |
|
(110 |
) |
|
(529 |
) |
|
Repayments of loan by affiliate
|
|
|
105 |
|
|
125 |
|
|
403 |
|
|
Investment in affiliate
|
|
|
— |
|
|
— |
|
|
(236 |
) |
| |
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
— |
|
|
15 |
|
|
(362 |
) |
| |
|
|
|
|
|
|
|
|
Financing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
Repayments of Convertible Note
|
|
|
— |
|
|
(250 |
) |
|
— |
|
|
Call premiums related to early extinguishment of debt
|
|
|
— |
|
|
(132 |
) |
|
— |
|
|
Dividends paid to common stockholders
|
|
|
(96 |
) |
|
(96 |
) |
|
(96 |
) |
|
Repurchase and cancellation of stock awards
|
|
|
(8 |
) |
|
(6 |
) |
|
(2 |
) |
|
Proceeds from issuance of common stock
|
|
|
3 |
|
|
3 |
|
|
— |
|
|
Repuchase of common stock
|
|
|
(50 |
) |
|
— |
|
|
— |
|
|
Increase in payable to affiliates
|
|
|
(57 |
) |
|
57 |
|
|
7 |
|
|
Other, net
|
|
|
(1 |
) |
|
— |
|
|
2 |
|
| |
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
(209 |
) |
|
(424 |
) |
|
(89 |
) |
| |
|
|
|
|
|
|
|
|
(Decrease) increase in cash and cash equivalents
|
|
|
(82 |
) |
|
(421 |
) |
|
256 |
|
|
Cash and cash equivalents at beginning of period
|
|
|
405 |
|
|
826 |
|
|
570 |
|
| |
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
323 |
|
$ |
405 |
|
$ |
826 |
|
| |
|
|
|
|
|
|
|
|
|
|