Huntsman Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Note 21 - Operating Segment Information (Tables)

Note 21 - Operating Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*Three months ended June 30, 2025*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	932	$	270		$	264		$	1,466

Significant segment expenses:
Variable direct costs⁽²⁾		700		146			123			969
Adjusted fixed costs⁽³⁾		198		95			100			393
Other segment items⁽⁴⁾		3		(3	)		(4	)		(4	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	31	$	32		$	45			108

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(21	)
Depreciation and amortization—continuing operations										(72	)
Corporate and other costs, net(⁶⁾										(34	)
Net income attributable to noncontrolling interests										13
Other adjustments:
Certain legal and other settlements and related expenses										(1	)
Amortization of pension and postretirement actuarial losses										(7	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(125	)
Loss from continuing operations before income taxes										(139	)

Income tax expense—continuing operations										(7	)
Income from discontinued operations, net of tax										1
Net loss									$	(145	)

	*Three months ended June 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,001		$	299	$	279		$	1,579

Significant segment expenses:
Variable direct costs⁽²⁾		752			166		130			1,048
Adjusted fixed costs⁽³⁾		186			87		100			373
Other segment items⁽⁴⁾		(17	)		—		(3	)		(20	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	80		$	46	$	52			178

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(20	)
Depreciation and amortization—continuing operations										(75	)
Corporate and other costs, net⁽⁶⁾										(47	)
Net income attributable to noncontrolling interests										16
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(1	)
Fair value adjustments to Venator investment, net and other tax matter adjustments										7
Certain legal and other settlements and related expenses										(1	)
Amortization of pension and postretirement actuarial losses										(8	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(5	)
Income from continuing operations before income taxes										44

Income tax expense—continuing operations										(13	)
Income from discontinued operations, net of tax										7
Net income									$	38

	*Six months ended June 30, 2025*
	*Polyurethanes*		*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,844	$	527	$	513		$	2,884

Significant segment expenses:
Variable direct costs⁽²⁾		1,382		283		239			1,904
Adjusted fixed costs⁽³⁾		384		179		201			764
Other segment items⁽⁴⁾		5		3		(8	)		—
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	73	$	62	$	81			216

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations									(40	)
Depreciation and amortization—continuing operations									(141	)
Corporate and other costs, net⁽⁶⁾									(70	)
Net income attributable to noncontrolling interests									29
Other adjustments:
Business acquisition and integration gain and purchase accounting inventory adjustments, net									5
Certain legal and other settlements and related income									32
Amortization of pension and postretirement actuarial losses									(14	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾									(129	)
Loss from continuing operations before income taxes									(112	)

Income tax expense—continuing operations									(22	)
Income from discontinued operations, net of tax									—
Net loss								$	(134	)

	Six months ended June 30, 2024
	Polyurethanes			Performance Products		Advanced Materials			Total
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,927		$	590	$	540		$	3,057

Significant segment expenses:
Variable direct costs⁽²⁾		1,457			326		252			2,035
Adjusted fixed costs⁽³⁾		384			170		198			752
Other segment items(4)		(33	)		6		(5	)		(32	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	119		$	88	$	95			302

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(39	)
Depreciation and amortization—continuing operations										(144	)
Corporate and other costs, net⁽⁶⁾										(90	)
Net income attributable to noncontrolling interests										30
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(21	)
Fair value adjustments to Venator investment, net and other tax matter adjustments										7
Certain legal and other settlements and related expenses										(2	)
Amortization of pension and postretirement actuarial losses										(16	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(19	)
Income from continuing operations before income taxes										8

Income tax benefit—continuing operations										7
Income from discontinued operations, net of tax										—
Net income									$	15

	*Three months ended June 30, 2025*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	932	$	270		$	264		$	1,466

Significant segment expenses:
Variable direct costs⁽²⁾		700		146			123			969
Adjusted fixed costs⁽³⁾		198		95			100			393
Other segment items⁽⁴⁾		3		(3	)		(4	)		(4	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	31	$	32		$	45			108

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(21	)
Depreciation and amortization—continuing operations										(72	)
Corporate and other costs, net⁽⁶⁾										(34	)
Net income attributable to noncontrolling interests										13
Other adjustments:
Certain legal and other settlements and related expenses										(1	)
Amortization of pension and postretirement actuarial losses										(7	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(125	)
Loss from continuing operations before income taxes										(139	)

Income tax expense—continuing operations										(5	)
Income from discontinued operations, net of tax										1
Net loss									$	(143	)

	*Three months ended June 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,001		$	299	$	279		$	1,579

Significant segment expenses:
Variable direct costs⁽²⁾		752			166		130			1,048
Adjusted fixed costs⁽³⁾		186			87		100			373
Other segment items⁽⁴⁾		(17	)		—		(3	)		(20	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	80		$	46	$	52			178

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(20	)
Depreciation and amortization—continuing operations										(75	)
Corporate and other costs, net⁽⁶⁾										(47	)
Net income attributable to noncontrolling interests										16
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(1	)
Fair value adjustments to Venator investment, net and other tax matter adjustments										7
Certain legal and other settlements and related expenses										(1	)
Amortization of pension and postretirement actuarial losses										(8	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(5	)
Income from continuing operations before income taxes										44

Income tax expense—continuing operations										(13	)
Income from discontinued operations, net of tax										7
Net income									$	38

	*Six months ended June 30, 2025*
	*Polyurethanes*		*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,844	$	527	$	513		$	2,884

Significant segment expenses:
Variable direct costs⁽²⁾		1,382		283		239			1,904
Adjusted fixed costs⁽³⁾		384		179		201			764
Other segment items⁽⁴⁾		5		3		(8	)		—
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	73	$	62	$	81			216

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations									(40	)
Depreciation and amortization—continuing operations									(141	)
Corporate and other costs, net⁽⁶⁾									(68	)
Net income attributable to noncontrolling interests									29
Other adjustments:
Business acquisition and integration gain and purchase accounting inventory adjustments, net									5
Certain legal and other settlements and related income									32
Amortization of pension and postretirement actuarial losses									(14	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾									(129	)
Loss from continuing operations before income taxes									(110	)

Income tax expense—continuing operations									(22	)
Income from discontinued operations, net of tax									—
Net loss								$	(132	)

	*Six months ended June 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,927		$	590	$	540		$	3,057

Significant segment expenses:
Variable direct costs⁽²⁾		1,457			326		252			2,035
Adjusted fixed costs⁽³⁾		384			170		198			752
Other segment items⁽⁴⁾		(33	)		6		(5	)		(32	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	119		$	88	$	95			302

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(39	)
Depreciation and amortization—continuing operations										(144	)
Corporate and other costs, net⁽⁶⁾										(88	)
Net income attributable to noncontrolling interests										30
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(21	)
Fair value adjustments to Venator investment, net and other tax matter adjustments										7
Certain legal and other settlements and related expenses										(2	)
Amortization of pension and postretirement actuarial losses										(16	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(19	)
Income from continuing operations before income taxes										10

Income tax benefit—continuing operations										7
Income from discontinued operations, net of tax										—
Net income									$	17

	*June 30,*		*December 31,*
	*2025*		*2024*
Total assets:
Polyurethanes	$	4,144	$	4,151
Performance Products		1,216		1,214
Advanced Materials		1,122		1,097
Total reportable segments’ total assets		6,482		6,462
Corporate and other		665		652
Total	$	7,147	$	7,114

	*Six months ended*
	*June 30,*
	*2025*		*2024*
Depreciation and amortization:
Polyurethanes	$	79	$	79
Performance Products		32		35
Advanced Materials		25		26
Total reportable segments’ depreciation and amortization		136		140
Corporate and other		5		4
Total	$	141	$	144

	*Six months ended*
	*June 30,*
	*2025*		*2024*
Capital expenditures:
Polyurethanes	$	34	$	38
Performance Products		28		44
Advanced Materials		10		7
Total reportable segments’ capital expenditures		72		89
Corporate and other		1		3
Total	$	73	$	92