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12. EMPLOYEE BENEFIT PLANS
Components of the net periodic benefit (credit) costs for the three and six months ended June 30, 2022 and 2021 were as follows (dollars in millions):
Huntsman Corporation
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|
|
|
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Other postretirement |
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Defined benefit plans |
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|
benefit plans |
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Three months |
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Three months |
|
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|
ended |
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|
ended |
|
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June 30, |
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June 30, |
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2022 |
|
|
2021 |
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|
2022 |
|
|
2021 |
|
| Service cost |
|
$ |
12 |
|
|
$ |
14 |
|
|
$ |
— |
|
|
$ |
— |
|
| Interest cost |
|
|
15 |
|
|
|
12 |
|
|
|
1 |
|
|
|
1 |
|
| Expected return on assets |
|
|
(41 |
) |
|
|
(42 |
) |
|
|
— |
|
|
|
— |
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| Amortization of prior service benefit |
|
|
(2 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
| Amortization of actuarial loss |
|
|
14 |
|
|
|
23 |
|
|
|
— |
|
|
|
— |
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| Net periodic benefit (credit) cost |
|
$ |
(2 |
) |
|
$ |
6 |
|
|
$ |
— |
|
|
$ |
— |
|
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|
|
|
|
|
|
|
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Other postretirement |
|
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|
Defined benefit plans |
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|
benefit plans |
|
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|
Six months |
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Six months |
|
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|
ended |
|
|
ended |
|
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|
June 30, |
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|
June 30, |
|
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|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| Service cost |
|
$ |
24 |
|
|
$ |
28 |
|
|
$ |
— |
|
|
$ |
— |
|
| Interest cost |
|
|
29 |
|
|
|
24 |
|
|
|
1 |
|
|
|
1 |
|
| Expected return on assets |
|
|
(83 |
) |
|
|
(84 |
) |
|
|
— |
|
|
|
— |
|
| Amortization of prior service benefit |
|
|
(3 |
) |
|
|
(3 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
| Amortization of actuarial loss |
|
|
28 |
|
|
|
46 |
|
|
|
1 |
|
|
|
1 |
|
| Settlement loss |
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
— |
|
| Net periodic benefit (credit) cost |
|
$ |
(5 |
) |
|
$ |
14 |
|
|
$ |
— |
|
|
$ |
— |
|
Huntsman International
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|
|
|
|
|
|
|
|
Other postretirement |
|
| |
|
Defined benefit plans |
|
|
benefit plans |
|
| |
|
Three months |
|
|
Three months |
|
| |
|
ended |
|
|
ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| Service cost |
|
$ |
12 |
|
|
$ |
14 |
|
|
$ |
— |
|
|
$ |
— |
|
| Interest cost |
|
|
15 |
|
|
|
12 |
|
|
|
1 |
|
|
|
1 |
|
| Expected return on assets |
|
|
(41 |
) |
|
|
(42 |
) |
|
|
— |
|
|
|
— |
|
| Amortization of prior service benefit |
|
|
(2 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
| Amortization of actuarial loss |
|
|
14 |
|
|
|
23 |
|
|
|
— |
|
|
|
— |
|
| Net periodic benefit (credit) cost |
|
$ |
(2 |
) |
|
$ |
6 |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
Other postretirement |
|
| |
|
Defined benefit plans |
|
|
benefit plans |
|
| |
|
Six months |
|
|
Six months |
|
| |
|
ended |
|
|
ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| Service cost |
|
$ |
24 |
|
|
$ |
28 |
|
|
$ |
— |
|
|
$ |
— |
|
| Interest cost |
|
|
29 |
|
|
|
24 |
|
|
|
1 |
|
|
|
1 |
|
| Expected return on assets |
|
|
(83 |
) |
|
|
(84 |
) |
|
|
— |
|
|
|
— |
|
| Amortization of prior service benefit |
|
|
(3 |
) |
|
|
(3 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
| Amortization of actuarial loss |
|
|
28 |
|
|
|
47 |
|
|
|
1 |
|
|
|
1 |
|
| Settlement loss |
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
— |
|
| Net periodic benefit (credit) cost |
|
$ |
(5 |
) |
|
$ |
15 |
|
|
$ |
— |
|
|
$ |
— |
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During the six months ended June 30, 2022 and 2021, we made contributions to our pension and other postretirement benefit plans of $26 million and $28 million, respectively. During the remainder of 2022, we expect to contribute an additional amount of approximately $23 million to these plans.
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