| Comprehensive Income (Loss) Note [Text Block] |
24. ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
The components of other comprehensive (loss) income and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):
Huntsman Corporation
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Pension and |
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Other |
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Foreign |
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|
other |
|
|
comprehensive |
|
|
|
|
|
|
|
|
|
|
Amounts |
|
|
Amounts |
|
| |
|
currency |
|
|
postretirement |
|
|
income of |
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|
|
|
|
|
|
|
|
|
attributable to |
|
|
attributable to |
|
| |
|
translation |
|
|
benefits |
|
|
unconsolidated |
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|
|
|
|
|
|
|
|
|
noncontrolling |
|
|
Huntsman |
|
| |
|
adjustment(a) |
|
|
adjustments(b) |
|
|
affiliates |
|
|
Other, net |
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|
Total |
|
|
interests |
|
|
Corporation |
|
| Beginning balance, January 1, 2022 |
|
$ |
(420 |
) |
|
$ |
(810 |
) |
|
$ |
8 |
|
|
$ |
6 |
|
|
$ |
(1,216 |
) |
|
$ |
13 |
|
|
$ |
(1,203 |
) |
| Other comprehensive loss before reclassifications, gross |
|
|
(229 |
) |
|
|
157 |
|
|
|
— |
|
|
|
(1 |
) |
|
|
(73 |
) |
|
|
12 |
|
|
|
(61 |
) |
| Tax impact |
|
|
1 |
|
|
|
(38 |
) |
|
|
— |
|
|
|
— |
|
|
|
(37 |
) |
|
|
— |
|
|
|
(37 |
) |
| Amounts reclassified from accumulated other comprehensive loss, gross(c) |
|
|
— |
|
|
|
51 |
|
|
|
(6 |
) |
|
|
— |
|
|
|
45 |
|
|
|
— |
|
|
|
45 |
|
| Tax impact |
|
|
— |
|
|
|
(12 |
) |
|
|
— |
|
|
|
— |
|
|
|
(12 |
) |
|
|
— |
|
|
|
(12 |
) |
| Net current-period other comprehensive (loss) income |
|
|
(228 |
) |
|
|
158 |
|
|
|
(6 |
) |
|
|
(1 |
) |
|
|
(77 |
) |
|
|
12 |
|
|
|
(65 |
) |
| Ending balance, December 31, 2022 |
|
$ |
(648 |
) |
|
$ |
(652 |
) |
|
$ |
2 |
|
|
$ |
5 |
|
|
$ |
(1,293 |
) |
|
$ |
25 |
|
|
$ |
(1,268 |
) |
| (a) |
Amounts are net of tax of $55 million and $56 million as of December 31, 2022 and January 1, 2022, respectively. |
| (b) |
Amounts are net of tax of $31 million and $81 million as of December 31, 2022 and January 1, 2022, respectively. |
| (c) |
See table below for details about these reclassifications. |
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Pension and |
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Other |
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|
|
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|
|
|
|
|
|
|
|
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| |
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Foreign |
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|
other |
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|
comprehensive |
|
|
|
|
|
|
|
|
|
|
Amounts |
|
|
Amounts |
|
| |
|
currency |
|
|
postretirement |
|
|
income of |
|
|
|
|
|
|
|
|
|
|
attributable to |
|
|
attributable to |
|
| |
|
translation |
|
|
benefits |
|
|
unconsolidated |
|
|
|
|
|
|
|
|
|
|
noncontrolling |
|
|
Huntsman |
|
| |
|
adjustment(a) |
|
|
adjustments(b) |
|
|
affiliates |
|
|
Other, net |
|
|
Total |
|
|
interests |
|
|
Corporation |
|
| Beginning balance, January 1, 2021 |
|
$ |
(328 |
) |
|
$ |
(1,050 |
) |
|
$ |
8 |
|
|
$ |
4 |
|
|
$ |
(1,366 |
) |
|
$ |
20 |
|
|
$ |
(1,346 |
) |
| Other comprehensive loss before reclassifications, gross |
|
|
(91 |
) |
|
|
229 |
|
|
|
— |
|
|
|
2 |
|
|
|
140 |
|
|
|
(7 |
) |
|
|
133 |
|
| Tax impact |
|
|
(1 |
) |
|
|
(54 |
) |
|
|
— |
|
|
|
— |
|
|
|
(55 |
) |
|
|
— |
|
|
|
(55 |
) |
| Amounts reclassified from accumulated other comprehensive loss, gross(c) |
|
|
— |
|
|
|
83 |
|
|
|
— |
|
|
|
— |
|
|
|
83 |
|
|
|
— |
|
|
|
83 |
|
| Tax impact |
|
|
— |
|
|
|
(18 |
) |
|
|
— |
|
|
|
— |
|
|
|
(18 |
) |
|
|
— |
|
|
|
(18 |
) |
| Net current-period other comprehensive (loss) income |
|
|
(92 |
) |
|
|
240 |
|
|
|
— |
|
|
|
2 |
|
|
|
150 |
|
|
|
(7 |
) |
|
|
143 |
|
| Ending balance, December 31, 2021 |
|
$ |
(420 |
) |
|
$ |
(810 |
) |
|
$ |
8 |
|
|
$ |
6 |
|
|
$ |
(1,216 |
) |
|
$ |
13 |
|
|
$ |
(1,203 |
) |
| (a) |
Amounts are net of tax of $56 million as of both December 31, 2021 and January 1, 2021. |
| (b) |
Amounts are net of tax of $81 million and $153 million as of December 31, 2021 and January 1, 2021, respectively. |
| (c) |
See table below for details about these reclassifications. |
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|
Amounts reclassified |
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|
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from accumulated |
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|
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|
other |
|
|
|
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|
comprehensive loss |
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|
Affected line item in |
| Details about accumulated other |
|
Year ended December 31, |
|
|
where net income |
| comprehensive loss components(a): |
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
is presented |
| Amortization of pension and other postretirement benefits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Actuarial loss |
|
$ |
57 |
|
|
$ |
92 |
|
|
$ |
82 |
|
(b)(d) |
Other income, net |
| Prior service credit |
|
|
(11 |
) |
|
|
(12 |
) |
|
|
(12 |
) |
(b)(d) |
Other income, net |
| Settlement loss |
|
|
5 |
|
|
|
3 |
|
|
|
43 |
|
(b)(c) |
Other income, net |
| Curtailment gain |
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
(b)(c) |
Other income, net |
| |
|
|
51 |
|
|
|
83 |
|
|
|
111 |
|
|
Total before tax |
| |
|
|
(12 |
) |
|
|
(18 |
) |
|
|
(25 |
) |
|
Income tax expense |
| Total reclassifications for the period |
|
$ |
39 |
|
|
$ |
65 |
|
|
$ |
86 |
|
|
Net of tax |
| (a) |
Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. |
| (b) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 18. Employee Benefit Plans.” |
| (c) |
In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 million of pension and other postemployment benefit settlement losses during the year ended December 31, 2020.
|
| (d) |
Amounts contain approximately $11 million, $16 million and $16 million of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2022, 2021 and 2020, respectively. |
Huntsman International
| |
|
|
|
|
|
Pension |
|
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign |
|
|
and other |
|
|
comprehensive |
|
|
|
|
|
|
|
|
|
|
Amounts |
|
|
Amounts |
|
| |
|
currency |
|
|
postretirement |
|
|
income of |
|
|
|
|
|
|
|
|
|
|
attributable to |
|
|
attributable to |
|
| |
|
translation |
|
|
benefits |
|
|
unconsolidated |
|
|
|
|
|
|
|
|
|
|
noncontrolling |
|
|
Huntsman |
|
| |
|
adjustment(a) |
|
|
adjustments(b) |
|
|
affiliates |
|
|
Other, net |
|
|
Total |
|
|
interests |
|
|
International |
|
| Beginning balance, January 1, 2022 |
|
$ |
(424 |
) |
|
$ |
(786 |
) |
|
$ |
8 |
|
|
$ |
2 |
|
|
$ |
(1,200 |
) |
|
$ |
13 |
|
|
$ |
(1,187 |
) |
| Other comprehensive income (loss) before reclassifications, gross |
|
|
(230 |
) |
|
|
157 |
|
|
|
— |
|
|
|
(1 |
) |
|
|
(74 |
) |
|
|
12 |
|
|
|
(62 |
) |
| Tax impact |
|
|
1 |
|
|
|
(38 |
) |
|
|
— |
|
|
|
— |
|
|
|
(37 |
) |
|
|
— |
|
|
|
(37 |
) |
| Amounts reclassified from accumulated other comprehensive loss, gross(c) |
|
|
— |
|
|
|
51 |
|
|
|
(6 |
) |
|
|
— |
|
|
|
45 |
|
|
|
— |
|
|
|
45 |
|
| Tax impact |
|
|
— |
|
|
|
(12 |
) |
|
|
— |
|
|
|
— |
|
|
|
(12 |
) |
|
|
— |
|
|
|
(12 |
) |
| Net current-period other comprehensive (loss) income |
|
|
(229 |
) |
|
|
158 |
|
|
|
(6 |
) |
|
|
(1 |
) |
|
|
(78 |
) |
|
|
12 |
|
|
|
(66 |
) |
| Ending balance, December 31, 2022 |
|
$ |
(653 |
) |
|
$ |
(628 |
) |
|
$ |
2 |
|
|
$ |
1 |
|
|
$ |
(1,278 |
) |
|
$ |
25 |
|
|
$ |
(1,253 |
) |
| (a) |
Amounts are net of tax of $42 million and $43 million as of December 31, 2022 and January 1, 2022, respectively. |
| (b) |
Amounts are net of tax of $55 million and $105 million as of December 31, 2022 and January 1, 2022, respectively. |
| (c) |
See table below for details about these reclassifications. |
| |
|
|
|
|
|
Pension |
|
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign |
|
|
and other |
|
|
comprehensive |
|
|
|
|
|
|
|
|
|
|
Amounts |
|
|
Amounts |
|
| |
|
currency |
|
|
postretirement |
|
|
income of |
|
|
|
|
|
|
|
|
|
|
attributable to |
|
|
attributable to |
|
| |
|
translation |
|
|
benefits |
|
|
unconsolidated |
|
|
|
|
|
|
|
|
|
|
noncontrolling |
|
|
Huntsman |
|
| |
|
adjustment(a) |
|
|
adjustments(b) |
|
|
affiliates |
|
|
Other, net |
|
|
Total |
|
|
interests |
|
|
International |
|
| Beginning balance, January 1, 2021 |
|
$ |
(333 |
) |
|
$ |
(1,028 |
) |
|
$ |
8 |
|
|
$ |
— |
|
|
$ |
(1,353 |
) |
|
$ |
20 |
|
|
$ |
(1,333 |
) |
| Other comprehensive income (loss) before reclassifications, gross |
|
|
(90 |
) |
|
|
229 |
|
|
|
— |
|
|
|
2 |
|
|
|
141 |
|
|
|
(7 |
) |
|
|
134 |
|
| Tax impact |
|
|
(1 |
) |
|
|
(56 |
) |
|
|
— |
|
|
|
— |
|
|
|
(57 |
) |
|
|
— |
|
|
|
(57 |
) |
| Amounts reclassified from accumulated other comprehensive loss, gross(c) |
|
|
— |
|
|
|
86 |
|
|
|
— |
|
|
|
— |
|
|
|
86 |
|
|
|
— |
|
|
|
86 |
|
| Tax impact |
|
|
— |
|
|
|
(17 |
) |
|
|
— |
|
|
|
— |
|
|
|
(17 |
) |
|
|
— |
|
|
|
(17 |
) |
| Net current-period other comprehensive (loss) income |
|
|
(91 |
) |
|
|
242 |
|
|
|
— |
|
|
|
2 |
|
|
|
153 |
|
|
|
(7 |
) |
|
|
146 |
|
| Ending balance, December 31, 2021 |
|
$ |
(424 |
) |
|
$ |
(786 |
) |
|
$ |
8 |
|
|
$ |
2 |
|
|
$ |
(1,200 |
) |
|
$ |
13 |
|
|
$ |
(1,187 |
) |
| (a) |
Amounts are net of tax of $43 million as of both December 31, 2021 and January 1, 2021. |
| (b) |
Amounts are net of tax of $105 million and $178 million as of December 31, 2021 and January 1, 2021, respectively. |
| (c) |
See table below for details about these reclassifications. |
| |
|
Amounts reclassified |
|
|
|
| |
|
from accumulated |
|
|
|
| |
|
other |
|
|
|
| |
|
comprehensive loss |
|
|
Affected line item in |
| Details about Accumulated Other |
|
Year ended December 31, |
|
|
where net income |
| Comprehensive Loss Components(a): |
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
is presented |
| Amortization of pension and other postretirement benefits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Actuarial loss |
|
$ |
57 |
|
|
$ |
95 |
|
|
$ |
86 |
|
(b)(d) |
Other income, net |
| Prior service credit |
|
|
(11 |
) |
|
|
(12 |
) |
|
|
(12 |
) |
(b)(d) |
Other income, net |
| Settlement loss |
|
|
5 |
|
|
|
3 |
|
|
|
43 |
|
(b)(c) |
Other income, net |
| Curtailment gain |
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
(b)(c) |
Other income, net |
| |
|
|
51 |
|
|
|
86 |
|
|
|
115 |
|
|
Total before tax |
| |
|
|
(12 |
) |
|
|
(17 |
) |
|
|
(26 |
) |
|
Income tax expense |
| Total reclassifications for the period |
|
$ |
39 |
|
|
$ |
69 |
|
|
$ |
89 |
|
|
Net of tax |
| (a) |
Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. |
| (b) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 18. Employee Benefit Plans.” |
| (c) |
In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 million of pension and other postemployment benefit settlement losses during the year ended December 31, 2020.
|
| (d) |
Amounts contain approximately $11 million, $16 million and $16 million of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2022, 2021 and 2020, respectively. |
Items of other comprehensive income (loss) of our Company and our consolidated affiliates have been recorded net of tax, with the exception of the foreign currency translation adjustments related to subsidiaries with earnings permanently reinvested. The tax effect is determined based upon the jurisdiction where the income or loss was recognized and is net of valuation allowances.
|