Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Total revenues $ 1,593 $ 1,669
Cost of goods sold 1,296 1,310
Gross profit 297 359
Operating expenses:    
Selling, general and administrative 199 207
Research and development 36 36
Restructuring, impairment and plant closing costs 3 1
Other operating expense, net 5  
Total operating expenses 243 244
Operating income 54 115
Interest expense (18) (30)
Equity in income of investment in unconsolidated affiliates 2 10
Fair value adjustments to Venator investment (110) 76
Loss on early extinguishment of debt   (23)
Other income, net 10 5
(Loss) income from continuing operations before income taxes (62) 153
Income tax expense (7) (45)
(Loss) income from continuing operations (69) 108
Income from discontinued operations, net of tax 777 23
Net income 708 131
Net income attributable to noncontrolling interests (3) (12)
Net income attributable to Huntsman Corporation or Huntsman International LLC $ 705 $ 119
Basic income per share:    
(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders $ (0.32) $ 0.41
Income from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax 3.48 0.10
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 3.16 $ 0.51
Weighted average shares (in shares) 223.2 233.1
Diluted income per share:    
(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders $ (0.32) $ 0.41
Income from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax 3.48 0.10
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 3.16 $ 0.51
Weighted average shares (in shares) 223.2 235.1
Amounts attributable to Huntsman Corporation common stockholders:    
(Loss) Income from continuing operations $ (72) $ 96
Income from discontinued operations, net of tax 777 23
Net income attributable to Huntsman Corporation or Huntsman International LLC 705 119
Third Party Customers    
Revenues:    
Total revenues 1,549 1,640
Related Party Customers    
Revenues:    
Total revenues 44 29
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES    
Revenues:    
Total revenues 1,593 1,669
Cost of goods sold 1,296 1,310
Gross profit 297 359
Operating expenses:    
Selling, general and administrative 197 205
Research and development 36 36
Restructuring, impairment and plant closing costs 3 1
Other operating expense, net 5  
Total operating expenses 241 242
Operating income 56 117
Interest expense (20) (35)
Equity in income of investment in unconsolidated affiliates 2 10
Fair value adjustments to Venator investment (110) 76
Loss on early extinguishment of debt   (23)
Other income, net 9 4
(Loss) income from continuing operations before income taxes (63) 149
Income tax expense (7) (44)
(Loss) income from continuing operations (70) 105
Income from discontinued operations, net of tax 777 23
Net income 707 128
Net income attributable to noncontrolling interests (3) (12)
Net income attributable to Huntsman Corporation or Huntsman International LLC 704 116
Amounts attributable to Huntsman Corporation common stockholders:    
Net income attributable to Huntsman Corporation or Huntsman International LLC 704 116
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES | Third Party Customers    
Revenues:    
Total revenues 1,549 1,640
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES | Related Party Customers    
Revenues:    
Total revenues $ 44 $ 29