Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Revenue Recognition

Note 10 - Revenue Recognition

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Text Block]

10. REVENUE RECOGNITION

The following tables disaggregate our revenue from continuing operations by major source for the three months ended June 30, 2023 and 2022 (dollars in millions):

			*Performance*		*Advanced*		*Corporate and*
2023	*Polyurethanes*		*Products*		*Materials*		*eliminations*			*Total*
Primary geographic markets(1)
U.S. and Canada	$	388	$	140	$	83	$	(2	)	$	609
Europe		278		68		110		(5	)		451
Asia Pacific		260		74		69		—			403
Rest of world		86		25		22		—			133
	$	1,012	$	307	$	284	$	(7	)	$	1,596

Major product groupings
MDI urethanes	$	1,012								$	1,012
Differentiated			$	307							307
Specialty					$	267					267
Other						17					17
Eliminations							$	(7	)		(7	)
	$	1,012	$	307	$	284	$	(7	)	$	1,596

			*Performance*		*Advanced*		*Corporate and*
2022	*Polyurethanes*		*Products*		*Materials*		*eliminations*			*Total*
Primary geographic markets(1)
U.S. and Canada	$	571	$	223	$	110	$	(4	)	$	900
Europe		348		117		123		(4	)		584
Asia Pacific		332		120		74		(2	)		524
Rest of world		102		32		29		(1	)		162
	$	1,353	$	492	$	336	$	(11	)	$	2,170

Major product groupings
MDI urethanes	$	1,353								$	1,353
Differentiated			$	492							492
Specialty					$	309					309
Other						27					27
Eliminations							$	(11	)		(11	)
	$	1,353	$	492	$	336	$	(11	)	$	2,170

(1)	Geographic information for revenues is based upon countries into which product is sold.

The following tables disaggregate our revenue from continuing operations by major source for the six months ended June 30, 2023 and 2022 (dollars in millions):

			*Performance*		*Advanced*		*Corporate and*
2023	*Polyurethanes*		*Products*		*Materials*		*eliminations*			*Total*
Primary geographic markets(1)
U.S. and Canada	$	774	$	297	$	172	$	(5	)	$	1,238
Europe		550		142		226		(9	)		909
Asia Pacific		518		153		131		(1	)		801
Rest of world		161		49		44		—			254
	$	2,003	$	641	$	573	$	(15	)	$	3,202

Major product groupings
MDI urethanes	$	2,003								$	2,003
Differentiated			$	641							641
Specialty					$	535					535
Other						38					38
Eliminations							$	(15	)		(15	)
	$	2,003	$	641	$	573	$	(15	)	$	3,202

			*Performance*		*Advanced*		*Corporate and*
2022	*Polyurethanes*		*Products*		*Materials*		*eliminations*			*Total*
Primary geographic markets(1)
U.S. and Canada	$	1,131	$	428	$	216	$	(7	)	$	1,768
Europe		703		237		251		(8	)		1,183
Asia Pacific		692		244		145		(3	)		1,078
Rest of world		213		63		59		(2	)		333
	$	2,739	$	972	$	671	$	(20	)	$	4,362

Major product groupings
MDI urethanes	$	2,739								$	2,739
Differentiated			$	972							972
Specialty					$	615					615
Other						56					56
Eliminations							$	(20	)		(20	)
	$	2,739	$	972	$	671	$	(20	)	$	4,362

(1)	Geographic information for revenues is based upon countries into which product is sold.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details