Huntsman Corporation Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Note 27 - Operating Segment Information (Tables)

Note 27 - Operating Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

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

	*Year ended December 31, 2025*
	*Polyurethanes*		*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,697	$	997	$	1,021		$	5,715

Significant segment expenses:
Variable direct costs⁽²⁾		2,772		552		478			3,802
Adjusted fixed costs⁽³⁾		772		336		398			1,506
Other segment items⁽⁴⁾		7		2		(16	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	146	$	107	$	161			414

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations									(79	)
Depreciation and amortization—continuing operations									(287	)
Corporate and other costs, net⁽⁶⁾									(139	)
Net income attributable to noncontrolling interests									57
Other adjustments:
Business acquisition and integration gain and purchase accounting inventory adjustments, net									4
Certain legal and other settlements and related income, net⁽⁷⁾									30
Loss on sale of business/assets									(5	)
Amortization of pension and postretirement actuarial losses									(34	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾									(153	)
Loss from continuing operations before income taxes									(192	)

Income tax expense—continuing operations									(26	)
Loss from discontinued operations, net of tax									(9	)
Net loss								$	(227	)

	*Year ended December 31, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,900		$	1,109	$	1,055		$	6,064

Significant segment expenses:
Variable direct costs⁽²⁾		2,943			618		499			4,060
Adjusted fixed costs⁽³⁾		744			328		390			1,462
Other segment items⁽⁴⁾		(32	)		10		(13	)		(35	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	245		$	153	$	179			577

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(79	)
Depreciation and amortization—continuing operations										(289	)
Corporate and other costs, net⁽⁶⁾										(163	)
Net income attributable to noncontrolling interests										62
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⁽⁷⁾										(13	)
Loss on sale of business/assets										(1	)
Loss on dissolution of subsidiaries⁽⁸⁾										(39	)
Amortization of pension and postretirement actuarial losses										(39	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(46	)
Loss from continuing operations before income taxes										(39	)

Income tax expense—continuing operations										(61	)
Loss from discontinued operations, net of tax										(27	)
Net loss									$	(127	)

	*Year ended December 31, 2023*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,865		$	1,178	$	1,092		$	6,135

Significant segment expenses:
Variable direct costs⁽²⁾		2,904			647		546			4,097
Adjusted fixed costs⁽³⁾		787			329		370			1,486
Other segment items⁽⁴⁾		(74	)		1		(10	)		(83	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	248		$	201	$	186			635

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(65	)
Depreciation and amortization—continuing operations										(278	)
Corporate and other costs, net⁽⁶⁾										(163	)
Net income attributable to noncontrolling interests										52
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(4	)
Fair value adjustments to Venator investment, net										(5	)
Certain legal and other settlements and related expenses, net										(6	)
Certain nonrecurring information technology project implementation costs										(5	)
Amortization of pension and postretirement actuarial losses										(37	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(25	)
Income from continuing operations before income taxes										99

Income tax expense—continuing operations										(64	)
Income from discontinued operations, net of tax										118
Net income									$	153

	*Year ended December 31, 2025*
	*Polyurethanes*		*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,697	$	997	$	1,021		$	5,715

Significant segment expenses:
Variable direct costs⁽²⁾		2,772		552		478			3,802
Adjusted fixed costs⁽³⁾		772		336		398			1,506
Other segment items⁽⁴⁾		7		2		(16	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	146	$	107	$	161			414

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations									(79	)
Depreciation and amortization—continuing operations									(287	)
Corporate and other costs, net⁽⁶⁾									(136	)
Net income attributable to noncontrolling interests									57
Other adjustments:
Business acquisition and integration gain and purchase accounting inventory adjustments, net									4
Certain legal and other settlements and related income, net⁽⁷⁾									30
Loss on sale of business/assets									(5	)
Amortization of pension and postretirement actuarial losses									(34	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾									(153	)
Loss from continuing operations before income taxes									(189	)

Income tax expense—continuing operations									(27	)
Loss from discontinued operations, net of tax									(9	)
Net loss								$	(225	)

	*Year ended December 31, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,900		$	1,109	$	1,055		$	6,064

Significant segment expenses:
Variable direct costs⁽²⁾		2,943			618		499			4,060
Adjusted fixed costs⁽³⁾		744			328		390			1,462
Other segment items⁽⁴⁾		(32	)		10		(13	)		(35	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	245		$	153	$	179			577

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(79	)
Depreciation and amortization—continuing operations										(289	)
Corporate and other costs, net⁽⁶⁾										(160	)
Net income attributable to noncontrolling interests										62
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⁽⁷⁾										(13	)
Loss on sale of business/assets										(1	)
Loss on dissolution of subsidiaries⁽⁸⁾										(39	)
Amortization of pension and postretirement actuarial losses										(39	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(46	)
Loss from continuing operations before income taxes										(36	)

Income tax expense—continuing operations										(62	)
Loss from discontinued operations, net of tax										(27	)
Net loss									$	(125	)

	*Year ended December 31, 2023*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,865		$	1,178	$	1,092		$	6,135

Significant segment expenses:
Variable direct costs⁽²⁾		2,904			647		546			4,097
Adjusted fixed costs⁽³⁾		787			329		370			1,486
Other segment items⁽⁴⁾		(74	)		1		(10	)		(83	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	248		$	201	$	186			635

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(65	)
Depreciation and amortization—continuing operations										(278	)
Corporate and other costs, net⁽⁶⁾										(160	)
Net income attributable to noncontrolling interests										52
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(4	)
Fair value adjustments to Venator investment, net										(5	)
Certain legal and other settlements and related expenses, net										(6	)
Certain nonrecurring information technology project implementation costs										(5	)
Amortization of pension and postretirement actuarial losses										(37	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(25	)
Income from continuing operations before income taxes										102

Income tax expense—continuing operations										(65	)
Income from discontinued operations, net of tax										118
Net income									$	155

	*December 31,*
	*2025*		*2024*
Total assets:
Polyurethanes	$	4,045	$	4,151
Performance Products		1,185		1,214
Advanced Materials		1,095		1,097
Total reportable segments’ total assets		6,325		6,462
Corporate and other		690		652
Total	$	7,015	$	7,114

	*Year ended December 31,*
	*2025*		*2024*		*2023*
Depreciation and amortization:
Polyurethanes	$	164	$	161	$	141
Performance Products		62		67		72
Advanced Materials		51		52		53
Total reportable segments’ depreciation and amortization		277		280		266
Corporate and other		10		9		12
Total	$	287	$	289	$	278

	*Year ended December 31,*
	*2025*		*2024*		*2023*
Capital expenditures:
Polyurethanes	$	82	$	78	$	98
Performance Products		59		85		100
Advanced Materials		27		17		25
Total reportable segments’ capital expenditures		168		180		223
Corporate and other		5		4		7
Total	$	173	$	184	$	230

	*December 31,*
	*2025*		*2024*
Goodwill:
Polyurethanes	$	338	$	328
Performance Products		2		15
Advanced Materials		290		290
Total	$	630	$	633

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	*Year ended December 31,*
	*2025*		*2024*		*2023*
Revenues by geographic area⁽¹⁾:
United States	$	1,977	$	2,124	$	2,140
China		1,073		1,082		1,084
Germany		352		373		423
Canada		220		216		211
India		213		191		164
Italy		183		207		216
United Kingdom		141		156		155
Other nations		1,524		1,687		1,718
Total	$	5,683	$	6,036	$	6,111

	*December 31,*
	*2025*		*2024*
Long-lived assets⁽²⁾:
United States	$	1,152	$	1,188
China		373		399
The Netherlands		358		315
Hungary		165		118
Saudi Arabia		97		102
Switzerland		87		67
United Kingdom		61		60
Singapore		53		59
Germany		50		82
Other nations		90		103
Total	$	2,486	$	2,493