Annual report pursuant to Section 13 and 15(d)

Note 26 - Operating Segment Information (Tables)

v3.22.4
Note 26 - Operating Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Revenues:

                       

Polyurethanes

  $ 5,067     $ 5,019     $ 3,584  

Performance Products

    1,713       1,485       1,023  

Advanced Materials

    1,277       1,198       839  

Total reportable segments’ revenues

    8,057       7,702       5,446  

Intersegment eliminations

    (34 )     (32 )     (25 )

Total

  $ 8,023     $ 7,670     $ 5,421  
                         

Huntsman Corporation:

                       

Segment adjusted EBITDA(1):

                       

Polyurethanes

  $ 628     $ 879     $ 472  

Performance Products

    469       359       164  

Advanced Materials

    233       204       130  

Total reportable segments’ adjusted EBITDA

    1,330       1,442       766  
                         

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:

                       

Interest expense, net—continuing operations

    (62 )     (67 )     (86 )

Depreciation and amortization—continuing operations

    (281 )     (278 )     (267 )

Corporate and other costs, net(2)

    (175 )     (196 )     (161 )

Net income attributable to noncontrolling interests

    63       59       32  

Other adjustments:

                       

Business acquisition and integration expenses and purchase accounting inventory adjustments

    (12 )     (22 )     (31 )

Fair value adjustments to Venator investment, net and related loss on disposal

    (12 )     (28 )     (88 )

Loss on early extinguishment of debt

          (27 )      

Certain legal and other settlements and related expenses

    (7 )     (13 )     (5 )

(Costs) income associated with the Albemarle Settlement, net

    (3 )     465        

Gain on sale of businesses/assets

          30       280  

Income from transition services arrangements

    2       8       7  

Certain nonrecurring information technology project implementation costs

    (5 )     (8 )     (6 )

Amortization of pension and postretirement actuarial losses

    (49 )     (74 )     (64 )

Plant incident remediation credits (costs)

    4             (2 )

Restructuring, impairment and plant closing and transition costs(3)

    (96 )     (45 )     (44 )

Income from continuing operations before income taxes

    697       1,246       331  
                         

Income tax expense—continuing operations

    (186 )     (191 )     (42 )

Income from discontinued operations, net of tax

    12       49       777  

Net income

  $ 523     $ 1,104     $ 1,066  
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Depreciation and amortization:

                       

Polyurethanes

  $ 136     $ 131     $ 130  

Performance Products

    72       74       79  

Advanced Materials

    57       60       45  

Total reportable segments’ depreciation and amortization

    265       265       254  

Corporate and other

    16       13       13  

Total

  $ 281     $ 278     $ 267  
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Capital expenditures:

                       

Polyurethanes

  $ 142     $ 243     $ 172  

Performance Products

    92       42       32  

Advanced Materials

    26       25       21  

Total reportable segments’ capital expenditures

    260       310       225  

Corporate and other

    12       16       12  

Total

  $ 272     $ 326     $ 237  
   

December 31,

 
   

2022

   

2021

 

Total assets:

               

Polyurethanes

  $ 4,286     $ 4,624  

Performance Products

    1,155       1,207  

Advanced Materials

    1,246       1,324  

Total reportable segments’ total assets

    6,687       7,155  

Corporate and other

    1,061       1,709  

Total

  $ 7,748     $ 8,864  
   

December 31,

 
   

2022

   

2021

 

Goodwill:

               

Polyurethanes

  $ 336     $ 344  

Performance Products

    15       16  

Advanced Materials

    290       290  

Total

  $ 641     $ 650  
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Huntsman International:

                       

Segment adjusted EBITDA(1):

                       

Polyurethanes

  $ 628     $ 879     $ 472  

Performance Products

    469       359       164  

Advanced Materials

    233       204       130  

Total reportable segments’ adjusted EBITDA

    1,330       1,442       766  
                         

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:

                       

Interest expense, net—continuing operations

    (62 )     (67 )     (88 )

Depreciation and amortization—continuing operations

    (281 )     (278 )     (267 )

Corporate and other costs, net(2)

    (172 )     (190 )     (155 )

Net income attributable to noncontrolling interests

    63       59       32  

Other adjustments:

                       

Business acquisition and integration expenses and purchase accounting inventory adjustments

    (12 )     (22 )     (31 )

Fair value adjustments to Venator investment, net and related loss on disposal

    (12 )     (28 )     (88 )

Loss on early extinguishment of debt

          (27 )      

Certain legal and other settlements and related expenses

    (7 )     (13 )     (5 )

(Costs) income associated with the Albemarle Settlement, net

    (3 )     465        

Gain on sale of businesses/assets

          30       280  

Income from transition services arrangements

    2       8       7  

Certain nonrecurring information technology project implementation costs

    (5 )     (8 )     (6 )

Amortization of pension and postretirement actuarial losses

    (49 )     (76 )     (67 )

Plant incident remediation credits (costs)

    4             (2 )

Restructuring, impairment and plant closing and transition costs(3)

    (96 )     (45 )     (44 )

Income from continuing operations before income taxes

    700       1,250       332  
                         

Income tax expense—continuing operations

    (188 )     (192 )     (42 )

Income from discontinued operations, net of tax

    12       49       777  

Net income

  $ 524     $ 1,107     $ 1,067  
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Depreciation and amortization:

                       

Polyurethanes

  $ 136     $ 131     $ 130  

Performance Products

    72       74       79  

Advanced Materials

    57       60       45  

Total reportable segments’ depreciation and amortization

    265       265       254  

Corporate and other

    16       13       13  

Total

  $ 281     $ 278     $ 267  
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Capital expenditures:

                       

Polyurethanes

  $ 142     $ 243     $ 172  

Performance Products

    92       42       32  

Advanced Materials

    26       25       21  

Total reportable segments’ capital expenditures

    260       310       225  

Corporate and other

    12       16       12  

Total

  $ 272     $ 326     $ 237  
   

December 31,

 
   

2022

   

2021

 

Total assets:

               

Polyurethanes

  $ 4,286     $ 4,624  

Performance Products

    1,155       1,207  

Advanced Materials

    1,246       1,324  

Total reportable segments’ total assets

    6,687       7,155  

Corporate and other

    1,067       1,948  

Total

  $ 7,754     $ 9,103  
   

December 31,

 
   

2022

   

2021

 

Goodwill:

               

Polyurethanes

  $ 336     $ 344  

Performance Products

    15       16  

Advanced Materials

    290       290  

Total

  $ 641     $ 650  
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Revenues by geographic area(1):

                       

United States

  $ 3,089     $ 2,649     $ 1,796  

China

    1,305       1,395       995  

Germany

    522       524       368  

Italy

    249       280       185  

Canada

    242       231       201  

India

    196       183       142  

Other nations

    2,420       2,408       1,734  

Total

  $ 8,023     $ 7,670     $ 5,421  
   

December 31,

 
   

2022

   

2021

 

Long-lived assets(2):

               

United States

  $ 1,211     $ 1,211  

The Netherlands

    313       337  

China

    213       248  

Saudi Arabia

    121       133  

Germany

    95       106  

Hungary

    77       41  

Switzerland

    76       76  

Singapore

    71       77  

Other nations

    200       214  

Total

  $ 2,377     $ 2,443