Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant (Tables)

Schedule I - Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Balance Sheet [Table Text Block]

	*December 31,*
	*2021*			*2020*
ASSETS
Cash and cash equivalents	$	2		$	2
Prepaid assets		2			2
Receivable from affiliate		2			3
Total current assets		6			7
Investment in and advances to affiliates		4,630			3,561
Total assets	$	4,636		$	3,568
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	3		$	—
Payable to affiliate		242			39
Accrued liabilities		4			3
Total current liabilities		249			42
Other noncurrent liabilities		9			7
Total liabilities		258			49
STOCKHOLDERS’ EQUITY
Common stock $0.01 par value, 1,200,000,000 shares authorized, 259,701,770 and 258,520,411 shares issued and 214,170,287 and 220,046,262 shares outstanding, respectively		3			3
Additional paid-in capital		4,102			4,048
Treasury stock, 45,531,489 and 38,477,091 shares, respectively		(934	)		(731	)
Unearned stock-based compensation		(25	)		(19	)
Retained earnings		2,435			1,564
Accumulated other comprehensive loss		(1,203	)		(1,346	)
Total stockholders’ equity		4,378			3,519
Total liabilities and stockholders’ equity	$	4,636		$	3,568

Condensed Income Statement [Table Text Block]

	*Year ended December 31,*
	*2021*			*2020*			*2019*
Selling, general and administrative expenses	$	(7	)	$	(6	)	$	(5	)
Interest income		—			2			15
Equity in income of subsidiaries		891			892			401
Dividend income—affiliate		158			144			148
Other income		3			2			3
Net income	$	1,045		$	1,034		$	562

Condensed Statement of Comprehensive Income [Table Text Block]

	*Year ended December 31,*
	*2021*			*2020*			*2019*
Net income	$	1,045		$	1,034		$	562
Other comprehensive income, net of tax:
Foreign currency translations adjustments		(92	)		41			2
Pension and other postretirement benefits adjustments		240			(19	)		(37	)
Other, net		61			32			35
Other comprehensive income, net of tax		209			54			—
Comprehensive income		1,254			1,088			562
Comprehensive income attributable to noncontrolling interests		(66	)		(38	)		(31	)
Comprehensive income attributable to Huntsman Corporation	$	1,188		$	1,050		$	531

Condensed Statement of Stockholders' Equity [Table Text Block]

	*Huntsman Corporation Stockholders’ Equity*
																		*Accumulated*
	*Shares*					*Additional*						*Unearned*						*other*
	*Common*			*Common*		*paid-in*			*Treasury*			*stock-based*			*Retained*			*comprehensive*			*Total*
	*stock*			*stock*		*capital*			*stock*			*compensation*			*earnings*			*loss*			*equity*
Beginning balance, January 1, 2019		232,994,172		$	3	$	3,984		$	(427	)	$	(16	)	$	292		$	(1,316	)	$	2,520
Net income		—			—		—			—			—			562			—			562
Other comprehensive loss		—			—		—			—			—			—			(46	)		(46	)
Issuance of nonvested stock awards		—			—		17			—			(17	)		—			—			—
Vesting of stock awards		1,643,368			—		7			—			—			—			—			7
Recognition of stock-based compensation		—			—		7			—			16			—			—			23
Repurchase and cancellation of stock awards		(488,441	)		—		—			—			—			(12	)		—			(12	)
Stock options exercised		246,661			—		4			—			—			(2	)		—			2
Treasury stock repurchased		(10,099,892	)		—		—			(208	)		—			—			—			(208	)
Acquisition of noncontrolling interests, net of tax		—			—		(11	)		—			—			—			—			(11	)
Dividends declared on common stock		—			—		—			—			—			(150	)		—			(150	)
Balance, December 31, 2019		224,295,868			3		4,008			(635	)		(17	)		690			(1,362	)		2,687
Net income		—			—		—			—			—			1,034			—			1,034
Other comprehensive income		—			—		—			—			—			—			16			16
Issuance of nonvested stock awards		—			—		18			—			(18	)		—			—			—
Vesting of stock awards		960,406			—		5			—			—			—			—			5
Recognition of stock-based compensation		—			—		7			—			16			—			—			23
Repurchase and cancellation of stock awards		(287,247	)		—		—			—			—			(8	)		—			(8	)
Stock options exercised		441,754			—		10			—			—			(7	)		—			3
Treasury stock repurchased		(5,364,519	)		—		—			(96	)		—			—			—			(96	)
Dividends declared to noncontrolling interests		—			—		—			—			—			—			—			—
Dividends declared on common stock		—			—		—			—			—			(145	)		—			(145	)
Balance, December 31, 2020		220,046,262			3		4,048			(731	)		(19	)		1,564			(1,346	)		3,519
Net income		—			—		—			—			—			1,045			—			1,045
Other comprehensive income		—			—		—			—			—			—			143			143
Issuance of nonvested stock awards		—			—		26			—			(26	)		—			—			—
Vesting of stock awards		678,400			—		5			—			—			—			—			5
Recognition of stock-based compensation		—			—		6			—			20			—			—			26
Repurchase and cancellation of stock awards		(238,339	)		—		—			—			—			(7	)		—			(7	)
Stock options exercised		738,362			—		17			—			—			(7	)		—			10
Treasury stock repurchased		(7,054,398	)		—		—			(203	)		—			—			—			(203	)
Dividends declared on common stock		—			—		—			—			—			(160	)		—			(160	)
Balance, December 31, 2021		214,170,287		$	3	$	4,102		$	(934	)	$	(25	)	$	2,435		$	(1,203	)	$	4,378

Condensed Cash Flow Statement [Table Text Block]

	*Year ended December 31,*
	*2021*			*2020*			*2019*
Operating Activities:
Net income	$	1,045		$	1,034		$	562
Equity in income of subsidiaries		(891	)		(892	)		(401	)
Stock-based compensation		1			1			1
Noncash interest income		—			(2	)		(15	)
Changes in operating assets and liabilities		(2	)		(1	)		13
Net cash provided by operating activities		153			140			160
Investing Activities:
Repayments of loan by affiliate		—			380			207
Net cash provided by investing activities		—			380			207
Financing Activities:
Dividends paid to common stockholders		(159	)		(144	)		(150	)
Repurchase and cancellation of stock awards		(7	)		(8	)		(12	)
Proceeds from issuance of common stock		10			3			2
Repurchase of common stock		(200	)		(96	)		(208	)
Increase (decrease) in payable to affiliates		203			(273	)		1
Net cash used in financing activities		(153	)		(518	)		(367	)
Increase in cash and cash equivalents		—			2			—
Cash and cash equivalents at beginning of period		2			—			—
Cash and cash equivalents at end of period	$	2		$	2		$	—