Quarterly report [Sections 13 or 15(d)]

Note 21 - Operating Segment Information - Financial Information By Segment (Details)

v3.25.2
Note 21 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Revenues $ 1,458 [1]   $ 1,574   $ 2,868 [1] $ 3,044  
Variable direct costs [2] 969   1,048   1,904 2,035  
Adjusted fixed costs [3] 393   373   764 752  
Other segment items [4] (4)   (20)   0 (32)  
Segment adjusted EBITDA [5] 108   178   216 302  
Interest expense, net—continuing operations (21)   (20)   (40) (39)  
Depreciation and amortization—continuing operations (72)   (75)   (141) (144)  
Corporate and other costs, net [6] (34)   (47)   (70) (90)  
Net income attributable to noncontrolling interests 13   16   29 30  
Certain legal and other settlements and related expenses (1)   (1)   32 (2)  
Amortization of pension and postretirement actuarial losses (7)   (8)   (14) (16)  
Restructuring, impairment and plant closing and transition costs [7] (125)   (5)   (129) (19)  
Income from continuing operations before income taxes (139)   44   (112) 8  
Income tax expense—continuing operations (7)   (13)   (22) 7  
Income from discontinued operations, net of tax 1   7   0 0  
Net (loss) income (145) $ 11 38 $ (23) (134) 15  
Business acquisition and integration expenses and purchase accounting inventory adjustments, net     (1)   5 (21)  
Fair value adjustments to Venator investment, net and other tax matter adjustments     7     7  
Certain legal and other settlements and related expenses (1)   (1)   32 (2)  
Business acquisition and integration gain and purchase accounting inventory adjustments, net     (1)   5 (21)  
Net loss (145) 11 38 (23) (134) 15  
Total assets 7,147       7,147   $ 7,114
Depreciation and amortization - continuing operations 72   75   141 144  
Capital expenditures         73 92  
Huntsman International LLC [Member]              
Revenues 1,458   1,574   2,868 3,044  
Variable direct costs [2] 969   1,048   1,904 2,035  
Adjusted fixed costs [3] 393   373   764 752  
Other segment items [4] (4)   (20)   0 (32)  
Segment adjusted EBITDA [5] 108   178   216 302  
Interest expense, net—continuing operations (21)   (20)   (40) (39)  
Depreciation and amortization—continuing operations (72)   (75)   (141) (144)  
Corporate and other costs, net [6] (34)   (47)   (68) (88)  
Net income attributable to noncontrolling interests 13   16   29 30  
Certain legal and other settlements and related expenses (1)   (1)   32 (2)  
Amortization of pension and postretirement actuarial losses (7)   (8)   (14) (16)  
Restructuring, impairment and plant closing and transition costs [7] (125)   (5)   (129) (19)  
Income from continuing operations before income taxes (139)   44   (110) 10  
Income tax expense—continuing operations (5)   (13)   (22) 7  
Income from discontinued operations, net of tax 1   7   0 0  
Net (loss) income (143) 11 38 (21) (132) 17  
Business acquisition and integration expenses and purchase accounting inventory adjustments, net     (1)   5 (21)  
Fair value adjustments to Venator investment, net and other tax matter adjustments     7     7  
Certain legal and other settlements and related expenses (1)   (1)   32 (2)  
Business acquisition and integration gain and purchase accounting inventory adjustments, net     (1)   5 (21)  
Net loss (143) $ 11 38 $ (21) (132) 17  
Depreciation and amortization - continuing operations 72   75   141 144  
Operating Segments [Member]              
Revenues [8] 1,466   1,579   2,884 3,057  
Depreciation and amortization—continuing operations         (136) (140)  
Total assets 6,482       6,482   6,462
Depreciation and amortization - continuing operations         136 140  
Capital expenditures         72 89  
Operating Segments [Member] | Huntsman International LLC [Member]              
Revenues [8] 1,466   1,579   2,884 3,057  
Operating Segments [Member] | Polyurethanes [Member]              
Revenues [8] 932 [1]   1,001   1,844 [1] 1,927  
Variable direct costs [2] 700   752   1,382 1,457  
Adjusted fixed costs [3] 198   186   384 384  
Other segment items [4] 3   (17)   5 (33)  
Segment adjusted EBITDA [5] 31   80   73 119  
Depreciation and amortization—continuing operations         (79) (79)  
Total assets 4,144       4,144   4,151
Depreciation and amortization - continuing operations         79 79  
Capital expenditures         34 38  
Operating Segments [Member] | Polyurethanes [Member] | Huntsman International LLC [Member]              
Revenues [8] 932   1,001   1,844 1,927  
Variable direct costs [2] 700   752   1,382 1,457  
Adjusted fixed costs [3] 198   186   384 384  
Other segment items [4] 3   (17)   5 (33)  
Segment adjusted EBITDA [5] 31   80   73 119  
Operating Segments [Member] | Performance Products [Member]              
Revenues [8] 270 [1]   299   527 [1] 590  
Variable direct costs [2] 146   166   283 326  
Adjusted fixed costs [3] 95   87   179 170  
Other segment items [4] (3)   0   3 6  
Segment adjusted EBITDA [5] 32   46   62 88  
Depreciation and amortization—continuing operations         (32) (35)  
Total assets 1,216       1,216   1,214
Depreciation and amortization - continuing operations         32 35  
Capital expenditures         28 44  
Operating Segments [Member] | Performance Products [Member] | Huntsman International LLC [Member]              
Revenues [8] 270   299   527 590  
Variable direct costs [2] 146   166   283 326  
Adjusted fixed costs [3] 95   87   179 170  
Other segment items [4] (3)   0   3 6  
Segment adjusted EBITDA [5] 32   46   62 88  
Operating Segments [Member] | Advanced Materials [Member]              
Revenues [8] 264 [1]   279   513 [1] 540  
Variable direct costs [2] 123   130   239 252  
Adjusted fixed costs [3] 100   100   201 198  
Other segment items [4] (4)   (3)   (8) (5)  
Segment adjusted EBITDA [5] 45   52   81 95  
Depreciation and amortization—continuing operations         (25) (26)  
Total assets 1,122       1,122   1,097
Depreciation and amortization - continuing operations         25 26  
Capital expenditures         10 7  
Operating Segments [Member] | Advanced Materials [Member] | Huntsman International LLC [Member]              
Revenues [8] 264   279   513 540  
Variable direct costs [2] 123   130   239 252  
Adjusted fixed costs [3] 100   100   201 198  
Other segment items [4] (4)   (3)   (8) (5)  
Segment adjusted EBITDA [5] 45   52   81 95  
Corporate and Reconciling Items [Member]              
Revenues (8) [1]   $ (5)   (16) [1] (13)  
Depreciation and amortization—continuing operations         (5) (4)  
Total assets $ 665       665   $ 652
Depreciation and amortization - continuing operations         5 4  
Capital expenditures         $ 1 $ 3  
[1] Geographic information for revenues is based upon countries into which product is sold.
[2] Variable direct costs primarily include raw materials, utilities and freight-related costs.
[3] Adjusted fixed costs primarily include personnel and maintenance costs at our manufacturing facilities, selling, general and administrative expenses and research and development expenses, less depreciation and amortization and certain of the adjustments noted in footnote (5) below.
[4] Other segment items include other operating and non-operating income and expense items and foreign currency exchange effects, less certain of the adjustments noted in footnote (5) below.
[5] We use segment adjusted EBITDA as the measure of each segment’s profit or loss. We believe that segment adjusted EBITDA more accurately reflects what our chief operating decision maker, who has been determined to be our Chief Executive Officer, uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) business acquisition and integration gain (expenses) and purchase accounting inventory adjustments, net; (b) certain legal and other settlements and related income (expenses); (c) amortization of pension and postretirement actuarial losses; (d) restructuring, impairment, plant closing and transition costs; and (e) loss from discontinued operations, net of tax
[6] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[7] Includes costs associated with transition activities relating primarily to our program to realign our cost structure in Europe and our Corporate program to optimize our global approach to managed services in various information technology functions.
[8] A reconciliation of total reportable segments’ revenues to total consolidated revenues is provided in “Note 12. Revenue Recognition.”