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)

9 Months Ended

Sep. 30, 2025

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

	*Three months ended September 30, 2025*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	956	$	246		$	265		$	1,467

Significant segment expenses:
Variable direct costs⁽²⁾		710		141			123			974
Adjusted fixed costs⁽³⁾		196		81			102			379
Other segment items⁽⁴⁾		2		(5	)		(4	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	48	$	29		$	44			121

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(20	)
Depreciation and amortization—continuing operations										(73	)
Corporate and other costs, net⁽⁶⁾										(27	)
Net income attributable to noncontrolling interests										14
Other adjustments:
Loss on sale of business/assets										(2	)
Amortization of pension and postretirement actuarial losses										(8	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(12	)
Loss from continuing operations before income taxes										(7	)

Income tax expense—continuing operations										(3	)
Loss from discontinued operations, net of tax										(1	)
Net loss									$	(11	)

	*Three months ended September 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,003		$	280	$	261		$	1,544

Significant segment expenses:
Variable direct costs⁽²⁾		756			155		124			1,035
Adjusted fixed costs⁽³⁾		174			81		94			349
Other segment items⁽⁴⁾		(3	)		2		(4	)		(5	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	76		$	42	$	47			165

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(21	)
Depreciation and amortization—continuing operations										(70	)
Corporate and other costs, net⁽⁶⁾										(34	)
Net income attributable to noncontrolling interests										16
Other adjustments:
Fair value adjustments to Venator investment, net and other tax matter adjustments										5
Certain legal and other settlements and related expenses, net										(11	)
Loss on sale of business/assets										(1	)
Amortization of pension and postretirement actuarial losses										(9	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(6	)
Income from continuing operations before income taxes										34

Income tax expense—continuing operations										(39	)
Loss from discontinued operations, net of tax										(12	)
Net loss									$	(17	)

	*Nine months ended September 30, 2025*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	2,800	$	773		$	778		$	4,351

Significant segment expenses:
Variable direct costs⁽²⁾		2,092		424			362			2,878
Adjusted fixed costs⁽³⁾		580		260			303			1,143
Other segment items⁽⁴⁾		7		(2	)		(12	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	121	$	91		$	125			337

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(60	)
Depreciation and amortization—continuing operations										(214	)
Corporate and other costs, net⁽⁶⁾										(97	)
Net income attributable to noncontrolling interests										43
Other adjustments:
Business acquisition and integration gain and purchase accounting inventory adjustments, net										5
Certain legal and other settlements and related income, net										32
Loss on sale of business/assets										(2	)
Amortization of pension and postretirement actuarial losses										(22	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(141	)
Loss from continuing operations before income taxes										(119	)

Income tax expense—continuing operations										(25	)
Loss from discontinued operations, net of tax										(1	)
Net loss									$	(145	)

	*Nine months ended September 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	2,930		$	870	$	801		$	4,601

Significant segment expenses:
Variable direct costs⁽²⁾		2,213			481		376			3,070
Adjusted fixed costs⁽³⁾		558			251		292			1,101
Other segment items⁽⁴⁾		(36	)		8		(9	)		(37	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	195		$	130	$	142			467

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(60	)
Depreciation and amortization—continuing operations										(214	)
Corporate and other costs, net⁽⁶⁾										(124	)
Net income attributable to noncontrolling interests										46
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										12
Certain legal and other settlements and related expenses, net										(13	)
Loss on sale of business/assets										(1	)
Amortization of pension and postretirement actuarial losses										(25	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(25	)
Income from continuing operations before income taxes										42

Income tax expense—continuing operations										(32	)
Loss from discontinued operations, net of tax										(12	)
Net loss									$	(2	)

	*Three months ended September 30, 2025*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	956	$	246		$	265		$	1,467

Significant segment expenses:
Variable direct costs⁽²⁾		710		141			123			974
Adjusted fixed costs⁽³⁾		196		81			102			379
Other segment items⁽⁴⁾		2		(5	)		(4	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	48	$	29		$	44			121

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(20	)
Depreciation and amortization—continuing operations										(73	)
Corporate and other costs, net⁽⁶⁾										(26	)
Net income attributable to noncontrolling interests										14
Other adjustments:
Loss on sale of business/assets										(2	)
Amortization of pension and postretirement actuarial losses										(8	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(12	)
Loss from continuing operations before income taxes										(6	)

Income tax expense—continuing operations										(4	)
Loss from discontinued operations, net of tax										(1	)
Net loss									$	(11	)

	*Three months ended September 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,003		$	280	$	261		$	1,544

Significant segment expenses:
Variable direct costs⁽²⁾		756			155		124			1,035
Adjusted fixed costs⁽³⁾		174			81		94			349
Other segment items⁽⁴⁾		(3	)		2		(4	)		(5	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	76		$	42	$	47			165

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(21	)
Depreciation and amortization—continuing operations										(70	)
Corporate and other costs, net⁽⁶⁾										(33	)
Net income attributable to noncontrolling interests										16
Other adjustments:
Fair value adjustments to Venator investment, net and other tax matter adjustments										5
Certain legal and other settlements and related expenses, net										(11	)
Loss on sale of business/assets										(1	)
Amortization of pension and postretirement actuarial losses										(9	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(6	)
Income from continuing operations before income taxes										35

Income tax expense—continuing operations										(39	)
Loss from discontinued operations, net of tax										(12	)
Net loss									$	(16	)

	*Nine months ended September 30, 2025*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	2,800	$	773		$	778		$	4,351

Significant segment expenses:
Variable direct costs⁽²⁾		2,092		424			362			2,878
Adjusted fixed costs⁽³⁾		580		260			303			1,143
Other segment items⁽⁴⁾		7		(2	)		(12	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	121	$	91		$	125			337

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(60	)
Depreciation and amortization—continuing operations										(214	)
Corporate and other costs, net⁽⁶⁾										(94	)
Net income attributable to noncontrolling interests										43
Other adjustments:
Business acquisition and integration gain and purchase accounting inventory adjustments, net										5
Certain legal and other settlements and related income, net										32
Loss on sale of business/assets										(2	)
Amortization of pension and postretirement actuarial losses										(22	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(141	)
Loss from continuing operations before income taxes										(116	)

Income tax expense—continuing operations										(26	)
Loss from discontinued operations, net of tax										(1	)
Net loss									$	(143	)

	*Nine months ended September 30, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	2,930		$	870	$	801		$	4,601

Significant segment expenses:
Variable direct costs⁽²⁾		2,213			481		376			3,070
Adjusted fixed costs⁽³⁾		558			251		292			1,101
Other segment items⁽⁴⁾		(36	)		8		(9	)		(37	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	195		$	130	$	142			467

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(60	)
Depreciation and amortization—continuing operations										(214	)
Corporate and other costs, net⁽⁶⁾										(121	)
Net income attributable to noncontrolling interests										46
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										12
Certain legal and other settlements and related expenses, net										(13	)
Loss on sale of business/assets										(1	)
Amortization of pension and postretirement actuarial losses										(25	)
Restructuring, impairment and plant closing and transition costs⁽⁷⁾										(25	)
Income from continuing operations before income taxes										45

Income tax expense—continuing operations										(32	)
Loss from discontinued operations, net of tax										(12	)
Net income									$	1

	*September 30,*		*December 31,*
	*2025*		*2024*
Total assets:
Polyurethanes	$	4,038	$	4,151
Performance Products		1,186		1,214
Advanced Materials		1,109		1,097
Total reportable segments’ total assets		6,333		6,462
Corporate and other		749		652
Total	$	7,082	$	7,114

	*Nine months ended*
	*September 30,*
	*2025*		*2024*
Depreciation and amortization:
Polyurethanes	$	121	$	118
Performance Products		47		50
Advanced Materials		38		39
Total reportable segments’ depreciation and amortization		206		207
Corporate and other		8		7
Total	$	214	$	214

	*Nine months ended*
	*September 30,*
	*2025*		*2024*
Capital expenditures:
Polyurethanes	$	52	$	53
Performance Products		44		64
Advanced Materials		18		13
Total reportable segments’ capital expenditures		114		130
Corporate and other		2		3
Total	$	116	$	133