Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant (Tables)

Schedule I - Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Balance Sheet [Table Text Block]

	*December 31,*
	*2022*			*2021*
ASSETS
Cash and cash equivalents	$	—		$	2
Prepaid assets		—			2
Receivable from affiliate		—			2
Total current assets		—			6
Investment in and advances to affiliates		3,631			4,630
Total assets	$	3,631		$	4,636
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	—		$	3
Payable to affiliate		—			242
Accrued liabilities		2			4
Total current liabilities		2			249
Other noncurrent liabilities		5			9
Total liabilities		7			258
STOCKHOLDERS’ EQUITY
Common stock $0.01 par value, 1,200,000,000 shares authorized, 261,148,217 and 259,701,770 shares issued and 183,634,464 and 214,170,287 shares outstanding, respectively		3			3
Additional paid-in capital		4,156			4,102
Treasury stock, 77,513,753 and 45,531,489 shares, respectively		(1,937	)		(934	)
Unearned stock-based compensation		(35	)		(25	)
Retained earnings		2,705			2,435
Accumulated other comprehensive loss		(1,268	)		(1,203	)
Total stockholders’ equity		3,624			4,378
Total liabilities and stockholders’ equity	$	3,631		$	4,636

Condensed Income Statement [Table Text Block]

	*Year ended December 31,*
	*2022*			*2021*			*2020*
Selling, general and administrative expenses	$	(4	)	$	(7	)	$	(6	)
Interest income		—			—			2
Equity in income of subsidiaries		295			891			892
Dividend income—affiliate		169			158			144
Other income		—			3			2
Net income	$	460		$	1,045		$	1,034

Condensed Statement of Comprehensive Income [Table Text Block]

	*Year ended December 31,*
	*2022*			*2021*			*2020*
Net income	$	460		$	1,045		$	1,034
Other comprehensive (loss) income, net of tax:
Foreign currency translations adjustments		(228	)		(92	)		41
Pension and other postretirement benefits adjustments		158			240			(19	)
Other, net		56			61			32
Other comprehensive (loss) income, net of tax		(14	)		209			54
Comprehensive income		446			1,254			1,088
Comprehensive income attributable to noncontrolling interests		(51	)		(66	)		(38	)
Comprehensive income attributable to Huntsman Corporation	$	395		$	1,188		$	1,050

Condensed Statement of Stockholders' Equity [Table Text Block]

	*Huntsman Corporation Stockholders’ Equity*
																	*Accumulated*
	*Shares*					*Additional*					*Unearned*						*other*
	*Common*			*Common*		*paid-in*		*Treasury*			*stock-based*			*Retained*			*comprehensive*			*Total*
	*stock*			*stock*		*capital*		*stock*			*compensation*			*earnings*			*loss*			*equity*
Beginning balance, January 1, 2020		224,295,868		$	3	$	4,008	$	(635	)	$	(17	)	$	690		$	(1,362	)	$	2,687
Net income		—			—		—		—			—			1,034			—			1,034
Other comprehensive income		—			—		—		—			—			—			16			16
Issuance of nonvested stock awards		—			—		18		—			(18	)		—			—			—
Vesting of stock awards		960,406			—		5		—			—			—			—			5
Recognition of stock-based compensation		—			—		7		—			16			—			—			23
Repurchase and cancellation of stock awards		(287,247	)		—		—		—			—			(8	)		—			(8	)
Stock options exercised		441,754			—		10		—			—			(7	)		—			3
Treasury stock repurchased		(5,364,519	)		—		—		(96	)		—			—			—			(96	)
Dividends declared on common stock		—			—		—		—			—			(145	)		—			(145	)
Balance, December 31, 2020		220,046,262			3		4,048		(731	)		(19	)		1,564			(1,346	)		3,519
Net income		—			—		—		—			—			1,045			—			1,045
Other comprehensive income		—			—		—		—			—			—			143			143
Issuance of nonvested stock awards		—			—		26		—			(26	)		—			—			—
Vesting of stock awards		678,400			—		5		—			—			—			—			5
Recognition of stock-based compensation		—			—		6		—			20			—			—			26
Repurchase and cancellation of stock awards		(238,339	)		—		—		—			—			(7	)		—			(7	)
Stock options exercised		738,362			—		17		—			—			(7	)		—			10
Treasury stock repurchased		(7,054,398	)		—		—		(203	)		—			—			—			(203	)
Dividends declared on common stock		—			—		—		—			—			(160	)		—			(160	)
Balance, December 31, 2021		214,170,287			3		4,102		(934	)		(25	)		2,435			(1,203	)		4,378
Net income		—			—		—		—			—			460			—			460
Other comprehensive loss		—			—		—		—			—			—			(65	)		(65	)
Issuance of nonvested stock awards		—			—		32		—			(32	)		—			—			—
Vesting of stock awards		1,341,787			—		7		—			—			—			—			7
Recognition of stock-based compensation		—			—		3		—			22			—			—			25
Repurchase and cancellation of stock awards		(366,199	)		—		—		—			—			(14	)		—			(14	)
Stock options exercised		470,853			—		12		—			—			(6	)		—			6
Treasury stock repurchased		(31,982,264	)		—		—		(1,003	)		—			—			—			(1,003	)
Dividends declared on common stock		—			—		—		—			—			(170	)		—			(170	)
Balance, December 31, 2022		183,634,464		$	3	$	4,156	$	(1,937	)	$	(35	)	$	2,705		$	(1,268	)	$	3,624

Condensed Cash Flow Statement [Table Text Block]

	*Year ended December 31,*
	*2022*			*2021*			*2020*
Operating activities:
Net income	$	460		$	1,045		$	1,034
Equity in income of subsidiaries		(295	)		(891	)		(892	)
Stock-based compensation		2			1			1
Noncash interest income		—			—			(2	)
Changes in operating assets and liabilities		(2	)		(2	)		(1	)
Net cash provided by operating activities		165			153			140
Investing activities:
Repayments of loan by affiliate		—			—			380
Net cash provided by investing activities		—			—			380
Financing activities:
Dividends paid to common stockholders		(171	)		(159	)		(144	)
Repurchase and cancellation of stock awards		(14	)		(7	)		(8	)
Proceeds from issuance of common stock		6			10			3
Repurchase of common stock		(1,005	)		(200	)		(96	)
Increase (decrease) in payable to affiliates		1,017			203			(273	)
Net cash used in financing activities		(167	)		(153	)		(518	)
(Decrease) increase in cash and cash equivalents		(2	)		—			2
Cash and cash equivalents at beginning of period		2			2			—
Cash and cash equivalents at end of period	$	—		$	2		$	2