Annual report pursuant to Section 13 and 15(d)

VARIABLE INTEREST ENTITIES (Tables)

v3.19.3.a.u2
VARIABLE INTEREST ENTITIES (Tables)
12 Months Ended
Dec. 31, 2019
VARIABLE INTEREST ENTITIES  
Schedule of financial information of VIE's

The following table summarizes the carrying amount of our variable interest entities’ assets and liabilities included in our consolidated balance sheets as of December 31, 2019 and 2018 (dollars in millions):

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December 31, 

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December 31, 

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2019(1)

    

2018

Current assets

​

$

50

​

$

92

Property, plant and equipment, net

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​

180

​

​

265

Operating lease right-of-use assets

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​

16

​

​

—

Other noncurrent assets

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​

132

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​

136

Deferred income taxes

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​

30

​

​

32

Intangible assets

​

​

—

​

​

10

Goodwill

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​

—

​

​

14

Total assets

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$

408

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$

549

Current liabilities

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$

151

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$

178

Long-term debt

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​

29

​

​

61

Deferred income taxes

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​

—

​

​

11

Noncurrent operating lease liabilities

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​

11

​

​

—

Other noncurrent liabilities

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​

87

​

​

97

Total liabilities

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$

278

​

$

347

(1)As of September 30, 2019, Sasol-Huntsman was no longer accounted for as a variable interest entity.

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The revenues, income from continuing operations before income taxes and net cash provided by operating activities for our variable interest entities are as follows (dollars in millions):

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​

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Year ended December 31, 

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2019(1)

    

2018

    

2017

Revenues

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$

95

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$

154

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$

132

Income from continuing operations before income taxes

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17

​

 

40

​

 

25

Net cash provided by operating activities

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81

​

 

65

​

 

51

(1) As of September 30, 2019, Sasol-Huntsman was no longer accounted for as a variable interest entity. Therefore, this financial data only includes information for Sasol-Huntsman applicable to the period from January 1, 2019 through September 30, 2019.