Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Employee Benefit Plans

v3.22.1
Note 12 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANS

Components of the net periodic benefit costs from continuing operations for the three months ended March 31, 2022 and 2021 were as follows (dollars in millions):

Huntsman Corporation

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months

   

Three months

 
   

ended

   

ended

 
   

March 31,

   

March 31,

 
   

2022

   

2021

   

2022

   

2021

 

Service cost

  $ 12     $ 14     $     $  

Interest cost

    14       12              

Expected return on assets

    (42 )     (42 )            

Amortization of prior service benefit

    (1 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

    14       23       1       1  

Settlement loss

          3              

Net periodic benefit cost

  $ (3 )   $ 8     $     $  

Huntsman International

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months

   

Three months

 
   

ended

   

ended

 
   

March 31,

   

March 31,

 
   

2022

   

2021

   

2022

   

2021

 

Service cost

  $ 12     $ 14     $     $  

Interest cost

    14       12              

Expected return on assets

    (42 )     (42 )            

Amortization of prior service benefit

    (1 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

    14       24       1       1  

Settlement loss

          3              

Net periodic benefit cost

  $ (3 )   $ 9     $     $  

During the three months ended March 31, 2022 and 2021, we made contributions to our pension and other postretirement benefit plans of $13 million and $14 million, respectively. During the remainder of 2022, we expect to contribute an additional amount of approximately $36 million to these plans.

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