Quarterly report pursuant to Section 13 or 15(d)

Note 20 - Operating Segment Information - Financial Information By Segment (Details)

v3.22.2
Note 20 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Total revenues [1] $ 2,362   $ 2,024   $ 4,751 $ 3,861
Segment adjusted EBITDA [2] 470   382   935 721
Interest expense, net—continuing operations (16)   (18)   (30) (37)
Depreciation and amortization—continuing operations (72)   (73)   (143) (147)
Corporate and other costs, net(2) [3] (38)   (48)   (88) (98)
Net income attributable to noncontrolling interests 14   16   31 33
Business acquisition and integration expenses and purchase accounting inventory adjustments (4)   (5)   (10) (14)
Fair value adjustments to Venator investment, net 0   (6)   (2) (25)
Gain (Loss) on Extinguishment of Debt, Total 0   (27)   0 (27)
Certain legal and other settlements and related expenses (2)   (8)   (14) (10)
Costs associated with the Albemarle Settlement, net (1)   0   (2) 0
(Loss) gain on sale of business/assets (7)   30   (11) 30
Income from transition services arrangements 1   3   2 4
Certain nonrecurring information technology project implementation costs (1)   (3)   (3) (4)
Amortization of pension and postretirement actuarial losses (13)   (21)   (27) (43)
Plant incident remediation credits (costs) 5   3   5 (1)
Restructuring, impairment and plant closing and transition costs(3) [4] (27)   (12)   (30) (36)
Income from continuing operations before income taxes 309   213   613 346
Income tax expense—continuing operations (67)   (42)   (132) (76)
Income from discontinued operations, net of tax 0   1   1 2
Net income 242 $ 240 172 $ 100 482 272
Huntsman International LLC [Member]            
Total revenues 2,362   2,024   4,751 3,861
Segment adjusted EBITDA [2] 470   382   935 721
Interest expense, net—continuing operations (16)   (18)   (30) (37)
Depreciation and amortization—continuing operations (72)   (74)   (143) (147)
Corporate and other costs, net(2) [3] (36)   (46)   (83) (93)
Net income attributable to noncontrolling interests 14   16   31 33
Business acquisition and integration expenses and purchase accounting inventory adjustments (4)   (5)   (10) (14)
Fair value adjustments to Venator investment, net 0   (6)   (2) (25)
Gain (Loss) on Extinguishment of Debt, Total 0   (27)   0 (27)
Certain legal and other settlements and related expenses (2)   (8)   (14) (10)
Costs associated with the Albemarle Settlement, net (1)   0   (2) 0
(Loss) gain on sale of business/assets (7)   30   (11) 30
Income from transition services arrangements 1   3   2 4
Certain nonrecurring information technology project implementation costs (1)   (3)   (3) (4)
Amortization of pension and postretirement actuarial losses (13)   (22)   (27) (45)
Plant incident remediation credits (costs) 5   3   5 (1)
Restructuring, impairment and plant closing and transition costs(3) [4] (27)   (12)   (30) (36)
Income from continuing operations before income taxes 311   213   618 349
Income tax expense—continuing operations (68)   (41)   (133) (76)
Income from discontinued operations, net of tax 0   1   1 2
Net income 243 $ 243 173 $ 102 486 275
Operating Segments [Member]            
Total revenues 2,373   2,032   4,771 3,876
Consolidation, Eliminations [Member]            
Total revenues (11)   (8)   (20) (15)
Polyurethanes [Member] | Operating Segments [Member]            
Total revenues [1] 1,353   1,155   2,739 2,223
Segment adjusted EBITDA [2] 229   208   453 415
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA [2] 229   208   453 415
Performance Products [Member] | Operating Segments [Member]            
Total revenues [1] 492   371   972 676
Segment adjusted EBITDA [2] 152   88   298 151
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA [2] 152   88   298 151
Advanced Materials [Member] | Operating Segments [Member]            
Total revenues [1] 336   299   671 577
Segment adjusted EBITDA [2] 67   58   134 102
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA [2] 67   58   134 102
Textile Effects [Member] | Operating Segments [Member]            
Total revenues [1] 192   207   389 400
Segment adjusted EBITDA [2] 22   28   50 53
Textile Effects [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA [2] $ 22   $ 28   $ 50 $ 53
[1] Geographic information for revenues is based upon countries into which product is sold.
[2] We use segment adjusted EBITDA as the measure of each segment’s profit or loss. We believe that segment adjusted EBITDA more accurately reflects what the chief operating decision maker uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests, certain Corporate and other items and income from discontinued operations, as well as eliminating the following adjustments: (a) business acquisition and integration expenses and purchase accounting inventory adjustments; (b) fair value adjustments to Venator investment, net; (c) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) costs associated with the Albemarle Settlement, net; (f) (loss) gain on sale of business/assets; (g) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (h) certain nonrecurring information technology project implementation costs; (i) amortization of pension and postretirement actuarial losses; (j) plant incident remediation credits (costs); and (k) restructuring, impairment, plant closing and transition costs.
[3] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[4] Includes costs associated with transition activities related primarily to our Corporate program to optimize our global approach to leverage shared services capabilities.