Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

v3.20.2
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
9 Months Ended
Sep. 30, 2020
OTHER COMPREHENSIVE INCOME  
Schedule of other comprehensive income

The components of other comprehensive income and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

Huntsman Corporation

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts

attributable to

Huntsman

Corporation

Beginning balance, January 1, 2020

$

(369)

$

(1,031)

$

8

$

4

$

(1,388)

$

26

$

(1,362)

Other comprehensive (loss) income before reclassifications, gross

(42)

8

(34)

(3)

(37)

Tax expense

(2)

(2)

(2)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

93

93

93

Tax expense

(21)

(21)

(21)

Net current-period other comprehensive (loss) income

(42)

78

36

(3)

33

Ending balance, September 30, 2020

$

(411)

$

(953)

$

8

$

4

$

(1,352)

$

23

$

(1,329)

(a) Amounts are net of tax of $68 as of both September 30, 2020 and January 1, 2020.

(b) Amounts are net of tax of $125 and $148 as of September 30, 2020 and January 1, 2020, respectively.

(c) See table below for details about these reclassifications.

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
Corporation

Beginning balance, January 1, 2019

$

(371)

$

(994)

$

8

$

5

$

(1,352)

$

36

$

(1,316)

Other comprehensive income before reclassifications, gross

(19)

(1)

(20)

6

(14)

Tax expense

(1)

(1)

(1)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

46

46

46

Tax expense

(10)

(10)

(10)

Net current-period other comprehensive income

(20)

36

(1)

15

6

21

Acquisition of noncontrolling interest

(15)

(15)

Ending balance, September 30, 2019

$

(391)

$

(958)

$

8

$

4

$

(1,337)

$

27

$

(1,310)

(a)

Amounts are net of tax of $72 and $71 as of September 30, 2019 and January 1, 2019, respectively.

(b)

Amounts are net of tax of $125 and $135 as of September 30, 2019 and January 1, 2019, respectively.

(c)

See table below for details about these reclassifications.

Schedule of details about reclassifications from other comprehensive income

Three months ended September 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

Details about Accumulated Other

other

other

where net income

Comprehensive Loss Components(a):

comprehensive loss

    

comprehensive loss

is presented

Amortization of pension and other postretirement benefits:

Prior service credit

$

(3)

$

(2)

(b)

Actuarial loss

21

17

(b)(d)

18

15

Total before tax

(4)

(4)

Income tax expense

Total reclassifications for the period

$

14

$

11

Net of tax

Nine months ended September 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

Details about Accumulated Other

other

other

where net income

Comprehensive Loss Components(a):

comprehensive loss

    

comprehensive loss

    

is presented

Amortization of pension and other postretirement benefits:

Prior service credit

$

(9)

$

(8)

(b)

Settlement loss

41

(c)

Actuarial loss

61

54

(b)(d)

93

46

Total before tax

(21)

(10)

Income tax expense

Total reclassifications for the period

$

72

$

36

Net of tax

(a) Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 12. Employee Benefit Plans.”

(c) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 of pension and other post-employment benefit settlement losses during the nine months ended September 30, 2020.

(d) Amounts contain approximately $1 of actuarial losses related to discontinued operations for both the three months ended September 30, 2020 and 2019, and $4 of actuarial losses related to discontinued operations for both the nine months ended September 30, 2020 and 2019.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES  
OTHER COMPREHENSIVE INCOME  
Schedule of other comprehensive income

Huntsman International

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
International

Beginning balance, January 1, 2020

$

(374)

$

(1,012)

$

8

$

$

(1,378)

$

26

$

(1,352)

Other comprehensive (loss) income before reclassifications, gross

(42)

8

(34)

(3)

(37)

Tax expense

(2)

(2)

(2)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

95

95

95

Tax expense

(21)

(21)

(21)

Net current-period other comprehensive (loss) income

(42)

80

38

(3)

35

Ending balance, September 30, 2020

$

(416)

$

(932)

$

8

$

$

(1,340)

$

23

$

(1,317)

(a) Amounts are net of tax of $55 as of both September 30, 2020 and January 1, 2020.

(b) Amounts are net of tax of $150 and $174 as of September 30, 2020 and January 1, 2020, respectively.

(c) See table below for details about these reclassifications.

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
International

Beginning balance, January 1, 2019

$

(376)

$

(977)

$

8

$

1

$

(1,344)

$

36

$

(1,308)

Other comprehensive income before reclassifications, gross

(20)

(1)

(21)

6

(15)

Tax expense

(1)

(1)

(1)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

48

48

48

Tax expense

(10)

(10)

(10)

Net current-period other comprehensive income

(21)

38

(1)

16

6

22

Acquisition of noncontrolling interest

(15)

(15)

Ending balance, September 30, 2019

$

(397)

$

(939)

$

8

$

$

(1,328)

$

27

$

(1,301)

(a)

Amounts are net of tax of $59 and $57 as of September 30, 2019 and January 1, 2019, respectively.

(b)

Amounts are net of tax of $151 and $161 as of September 30, 2019 and January 1, 2019, respectively.

(c)

See table below for details about these reclassifications.

Schedule of details about reclassifications from other comprehensive income

Three months ended September 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

Details about Accumulated Other

other

other

where net income

Comprehensive Loss Components(a):

comprehensive loss

    

comprehensive loss

is presented

Amortization of pension and other postretirement benefits:

Prior service credit

$

(3)

$

(2)

(b)

Actuarial loss

22

17

(b)(d)

19

15

Total before tax

(4)

(3)

Income tax expense

Total reclassifications for the period

$

15

$

12

Net of tax

Nine months ended September 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

Details about Accumulated Other

other

other

where net income

Comprehensive Loss Components(a):

comprehensive loss

    

comprehensive loss

    

is presented

Amortization of pension and other postretirement benefits:

Prior service credit

$

(9)

$

(8)

(b)

Settlement loss

41

(c)

Actuarial loss

63

56

(b)(d)

95

48

Total before tax

(21)

(10)

Income tax expense

Total reclassifications for the period

$

74

$

38

Net of tax

(a) Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 12. Employee Benefit Plans.”

(c) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 of pension and other post-employment benefit settlement losses during the nine months ended September 30, 2020.

(d) Amounts contain approximately $1 of actuarial losses related to discontinued operations for both the three months ended September 30, 2020 and 2019, and $4 of actuarial losses related to discontinued operations for both the nine months ended September 30, 2020 and 2019.