Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES (Tables)

v3.20.2
VARIABLE INTEREST ENTITIES (Tables)
9 Months Ended
Sep. 30, 2020
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 condensed consolidated balance sheet as of September 30, 2020 and our consolidated balance sheet as of December 31, 2019 (dollars in millions):

​

​

​

​

​

​

​

​

​

​

September 30, 

​

December 31, 

​

    

2020

    

2019

Current assets

​

$

36

​

$

50

Property, plant and equipment, net

​

​

168

​

​

180

Operating lease right-of-use assets

​

​

20

​

​

16

Other noncurrent assets

​

​

136

​

​

132

Deferred income taxes

​

​

30

​

​

30

Total assets

​

$

390

​

$

408

Current liabilities

​

$

165

​

$

151

Long-term debt

​

​

3

​

​

29

Noncurrent operating lease liabilities

​

​

16

​

​

11

Other noncurrent liabilities

​

​

79

​

​

87

Total liabilities

​

$

263

​

$

278

​

The revenues, income from continuing operations before income taxes and net cash provided by operating activities for our variable interest entities for the three and nine months ended September 30, 2020 and 2019 are as follows (dollars in millions):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months

​

Nine months

​

​

ended

​

ended

​

​

September 30, 

​

September 30, 

​

​

2020(1)

    

2019

​

2020(1)

    

2019

Revenues

​

$

—

​

$

28

​

$

—

​

$

95

Income from continuing operations before income taxes

​

​

—

​

​

3

​

​

1

​

​

16

Net cash provided by operating activities

​

​

3

​

​

12

​

​

17

​

​

72

(1) As of September 30, 2019, Sasol-Huntsman was no longer accounted for as a variable interest entity. Therefore, this financial data excludes information for Sasol-Huntsman.