Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

BUSINESS COMBINATIONS AND ACQUISITIONS (Tables)

BUSINESS COMBINATIONS AND ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of effects of changes in ownership interest in joint venture

The effects of changes in our ownership interest in Sasol-Huntsman on the equity attributable to Huntsman Corporation and Huntsman International are as follows (dollars in millions):


	Year ended December 31,
	2019		2018		2017
Net income attributable to Huntsman Corporation shareholders	$	562	$	337	$	636

Decrease in Huntsman Corporation’s paid-in capital for purchase of 50% interest in Sasol-Huntsman		(11)		—		—
Net transfers to noncontrolling interest		(11)		—		—
Change from net income attributable to Huntsman Corporation shareholders and transfers to noncontrolling interest	$	551	$	337	$	636

Schedule of allocation of acquisition cost to the assets acquired and liabilities assumed


Fair value of assets acquired and liabilities assumed:
Cash paid for the Demilec Acquisition in Q2 2018	$	357
Purchase price adjustment received in Q3 2018		(4)
Net acquisition cost	$	353

Cash	$	1
Accounts receivable		31
Inventories		23
Prepaid expenses and other current assets		1
Property, plant and equipment, net		21
Intangible assets		177
Goodwill		140
Accounts payable		(16)
Accrued liabilities		(3)
Deferred income taxes		(22)
Other noncurrent liabilities		—
Total fair value of net assets acquired	$	353

Schedule of estimated pro forma revenues and net income

If this acquisition were to have occurred on January 1, 2017, the following estimated pro forma revenues, net income, net income attributable to Huntsman Corporation and Huntsman International and income per share for Huntsman Corporation would have been reported (dollars in millions):


	Pro Forma (Unaudited)
	Year ended December 31,
	2018		2017
Revenues	$	7,662	$	7,010
Net income		639		728
Net income attributable to Huntsman Corporation		326		623

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

BUSINESS COMBINATIONS

Schedule of effects of changes in ownership interest in joint venture


	Year ended December 31,
	2019		2018		2017
Net income attributable to Huntsman International shareholders	$	551	$	323	$	629

Decrease in Huntsman International’s paid-in capital for purchase of 50% interest in Sasol-Huntsman		(11)		—		—
Net transfers to noncontrolling interest		(11)		—		—
Change from net income attributable to Huntsman International shareholders and transfers to noncontrolling interest	$	540	$	323	$	629

Schedule of estimated pro forma revenues and net income


	Pro Forma (Unaudited)
	Year ended December 31,
	2018		2017
Revenues	$	7,662	$	7,010
Net income		625		721
Net income attributable to Huntsman International		312		616