Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT PLANS

v3.20.2
EMPLOYEE BENEFIT PLANS
6 Months Ended
Jun. 30, 2020
EMPLOYEE BENEFIT PLANS  
EMPLOYEE BENEFIT PLANS

12. EMPLOYEE BENEFIT PLANS

Components of the net periodic benefit costs from continuing operations for the three and six months ended June 30, 2020 and 2019 were as follows (dollars in millions):

Huntsman Corporation

Other Postretirement

Defined Benefit Plans

Benefit Plans

Three months

Three months

ended

ended

June 30, 

June 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

12

$

12

$

1

$

1

Interest cost

16

20

Expected return on assets

(42)

(39)

Amortization of prior service benefit

(1)

(1)

(1)

(1)

Amortization of actuarial loss

19

17

Net periodic benefit cost

$

4

$

9

$

$

Other Postretirement

Defined Benefit Plans

Benefit Plans

Six months

Six months

ended

ended

June 30, 

June 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

26

$

25

$

1

$

1

Interest cost

31

40

1

1

Expected return on assets

(85)

(78)

Amortization of prior service benefit

(3)

(3)

(2)

(2)

Amortization of actuarial loss

39

34

Net periodic benefit cost

$

8

$

18

$

$

Huntsman International

Other Postretirement

Defined Benefit Plans

Benefit Plans

Three months

Three months

ended

ended

June 30, 

June 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

12

$

12

$

1

$

1

Interest cost

16

20

Expected return on assets

(42)

(39)

Amortization of prior service benefit

(1)

(1)

(1)

(1)

Amortization of actuarial loss

20

19

Net periodic benefit cost

$

5

$

11

$

$

Other Postretirement

Defined Benefit Plans

Benefit Plans

Six months

Six months

ended

ended

June 30, 

June 30, 

    

2020

    

2019

    

2020

    

2019

Service cost

$

26

$

25

$

1

$

1

Interest cost

31

40

1

1

Expected return on assets

(85)

(78)

Amortization of prior service benefit

(3)

(3)

(2)

(2)

Amortization of actuarial loss

41

36

Net periodic benefit cost

$

10

$

20

$

$

During the six months ended June 30, 2020 and 2019, we made contributions to our pension and other postretirement benefit plans of $46 million and $38 million, respectively. During the remainder of 2020, we expect to contribute an additional amount of approximately $41 million to these plans.