Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Revenue Recognition

Note 11 - Revenue Recognition

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Text Block]

11. REVENUE RECOGNITION

The following tables disaggregate our revenue from continuing operations by major source for the three months ended June 30, 2021 and 2020 (dollars in millions):

			*Performance*		*Advanced*		*Textile*		*Corporate and*
2021	*Polyurethanes*		*Products*		*Materials*		*Effects*		*Eliminations*			*Total*
Primary Geographic Markets(1)
U.S. and Canada	$	430	$	157	$	89	$	12	$	(6	)	$	682
Europe		293		100		110		35		(2	)		536
Asia Pacific		340		97		74		130		—			641
Rest of world		92		17		26		30		—			165
	$	1,155	$	371	$	299	$	207	$	(8	)	$	2,024

Major Product Groupings
MDI urethanes	$	1,155										$	1,155
Differentiated			$	371									371
Specialty					$	274							274
Non-specialty						25							25
Textile chemicals and dyes							$	207					207
Eliminations									$	(8	)		(8	)
	$	1,155	$	371	$	299	$	207	$	(8	)	$	2,024

			*Performance*		*Advanced*		*Textile*		*Corporate and*
2020	*Polyurethanes*		*Products*		*Materials*		*Effects*		*Eliminations*			*Total*
Primary Geographic Markets(1)
U.S. and Canada	$	295	$	100	$	52	$	7	$	(4	)	$	450
Europe		183		53		72		19		—			327
Asia Pacific		210		61		51		62		—			384
Rest of world		42		14		17		14		(1	)		86
	$	730	$	228	$	192	$	102	$	(5	)	$	1,247

Major Product Groupings
MDI urethanes	$	730										$	730
Differentiated			$	228									228
Specialty					$	172							172
Non-specialty						20							20
Textile chemicals and dyes							$	102					102
Eliminations									$	(5	)		(5	)
	$	730	$	228	$	192	$	102	$	(5	)	$	1,247

The following tables disaggregate our revenue from continuing operations by major source for the six months ended June 30, 2021 and 2020 (dollars in millions):

			*Performance*		*Advanced*		*Textile*		*Corporate and*
2021	*Polyurethanes*		*Products*		*Materials*		*Effects*		*Eliminations*			*Total*
Primary Geographic Markets(1)
U.S. and Canada	$	801	$	277	$	172	$	25	$	(9	)	$	1,266
Europe		572		177		209		66		(5	)		1,019
Asia Pacific		676		188		145		249		—			1,258
Rest of world		174		34		51		60		(1	)		318
	$	2,223	$	676	$	577	$	400	$	(15	)	$	3,861

Major Product Groupings
MDI urethanes	$	2,223										$	2,223
Differentiated			$	676									676
Specialty					$	519							519
Non-specialty						58							58
Textile chemicals and dyes							$	400					400
Eliminations									$	(15	)		(15	)
	$	2,223	$	676	$	577	$	400	$	(15	)	$	3,861

			*Performance*		*Advanced*		*Textile*		*Corporate and*
2020	*Polyurethanes*		*Products*		*Materials*		*Effects*		*Eliminations*			*Total*
Primary Geographic Markets(1)
U.S. and Canada	$	665	$	229	$	115	$	24	$	(11	)	$	1,022
Europe		428		127		173		51		(1	)		778
Asia Pacific		409		131		107		165		—			812
Rest of world		116		33		38		42		(1	)		228
	$	1,618	$	520	$	433	$	282	$	(13	)	$	2,840

Major Product Groupings
MDI urethanes	$	1,618										$	1,618
Differentiated			$	520									520
Specialty					$	383							383
Non-specialty						50							50
Textile chemicals and dyes							$	282					282
Eliminations									$	(13	)		(13	)
	$	1,618	$	520	$	433	$	282	$	(13	)	$	2,840

(1)	Geographic information for revenues is based upon countries into which product is sold.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details