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

Quarterly report [Sections 13 or 15(d)]

Note 20 - Operating Segment Information (Tables)

Note 20 - Operating Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

	*Three months ended June 30, 2026*
	*Polyurethanes*		*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,079	$	283	$	313		$	1,675

Significant segment expenses:
Variable direct costs⁽²⁾		810		158		143			1,111
Adjusted fixed costs⁽³⁾		203		88		108			399
Other segment items⁽⁴⁾		—		—		(2	)		(2	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	66	$	37	$	64			167

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net									(23	)
Depreciation and amortization									(77	)
Corporate and other costs, net⁽⁶⁾									(47	)
Net income attributable to noncontrolling interests									13
Other adjustments:
Certain legal and other settlements and related expenses, net									(7	)
Gain on sale of business/assets, net⁽⁷⁾									22
Expenses associated with the proposed merger									(5	)
Amortization of pension and postretirement actuarial losses									(7	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾									(10	)
Income from continuing operations before income taxes									26

Income tax expense—continuing operations									(17	)
Loss from discontinued operations, net of tax									(2	)
Net income								$	7

	*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										(21	)
Depreciation and amortization										(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, net										(1	)
Amortization of pension and postretirement actuarial losses										(7	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾										(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	)

	*Six months ended June 30, 2026*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	2,002	$	511		$	592		$	3,105

Significant segment expenses:
Variable direct costs⁽²⁾		1,508		284			274			2,066
Adjusted fixed costs⁽³⁾		388		165			216			769
Other segment items⁽⁴⁾		1		(1	)		(7	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	105	$	63		$	109			277

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net										(44	)
Depreciation and amortization										(150	)
Corporate and other costs, net⁽⁶⁾										(84	)
Net income attributable to noncontrolling interests										25
Other adjustments:
Certain legal and other settlements and related income, net										(11	)
Gain on sale of business/assets, net⁽⁷⁾										22
Expenses associated with the proposed merger										(5	)
Loss on early extinguishment of debt										(1	)
Amortization of pension and postretirement actuarial losses										(14	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾										(18	)
Loss from continuing operations before income taxes										(3	)

Income tax expense—continuing operations										(28	)
Loss from discontinued operations, net of tax										(3	)
Net loss									$	(34	)

	*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									(40	)
Depreciation and amortization									(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, net⁽⁹⁾									32
Amortization of pension and postretirement actuarial losses									(14	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾									(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	)

	*Three months ended June 30, 2026*
	*Polyurethanes*		*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	1,079	$	283	$	313		$	1,675

Significant segment expenses:
Variable direct costs⁽²⁾		810		158		143			1,111
Adjusted fixed costs⁽³⁾		203		88		108			399
Other segment items⁽⁴⁾		—		—		(2	)		(2	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	66	$	37	$	64			167

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net									(23	)
Depreciation and amortization									(77	)
Corporate and other costs, net⁽⁶⁾									(47	)
Net income attributable to noncontrolling interests									13
Other adjustments:
Certain legal and other settlements and related expenses, net									(7	)
Gain on sale of business/assets, net⁽⁷⁾									22
Expenses associated with the proposed merger									(5	)
Amortization of pension and postretirement actuarial losses									(7	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾									(10	)
Income from continuing operations before income taxes									26

Income tax expense—continuing operations									(17	)
Loss from discontinued operations, net of tax									(2	)
Net income								$	7

	*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										(21	)
Depreciation and amortization										(72	)
Corporate and other costs, net⁽⁶⁾										(34	)
Net income attributable to noncontrolling interests										13
Other adjustments:
Certain legal and other settlements and related income, net										(1	)
Amortization of pension and postretirement actuarial losses										(7	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾										(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	)

	*Six months ended June 30, 2026*
	*Polyurethanes*		*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	2,002	$	511		$	592		$	3,105

Significant segment expenses:
Variable direct costs⁽²⁾		1,508		284			274			2,066
Adjusted fixed costs⁽³⁾		388		165			216			769
Other segment items⁽⁴⁾		1		(1	)		(7	)		(7	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	105	$	63		$	109			277

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net										(44	)
Depreciation and amortization										(150	)
Corporate and other costs, net⁽⁶⁾										(82	)
Net income attributable to noncontrolling interests										25
Other adjustments:
Certain legal and other settlements and related income, net										(11	)
Gain on sale of business/assets, net⁽⁷⁾										22
Expenses associated with the proposed merger										(5	)
Loss on early extinguishment of debt										(1	)
Amortization of pension and postretirement actuarial losses										(14	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾										(18	)
Loss from continuing operations before income taxes										(1	)

Income tax expense—continuing operations										(28	)
Loss from discontinued operations, net of tax										(3	)
Net loss									$	(32	)

	*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									(40	)
Depreciation and amortization									(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, net⁽⁹⁾									32
Amortization of pension and postretirement actuarial losses									(14	)
Restructuring, impairment and plant closing and transition costs⁽⁸⁾									(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	)

Segment Reporting, Reconciliation of Asset by Segment to Consolidated [Table Text Block]

	*June 30,*		*December 31,*
	*2026*		*2025*
Total assets:
Polyurethanes	$	4,204	$	4,045
Performance Products		1,201		1,185
Advanced Materials		1,143		1,095
Total reportable segments’ total assets		6,548		6,325
Corporate and other		642		690
Total	$	7,190	$	7,015

	*Six months ended*
	*June 30,*
	*2026*		*2025*
Depreciation and amortization:
Polyurethanes	$	87	$	79
Performance Products		33		32
Advanced Materials		25		25
Total reportable segments’ depreciation and amortization		145		136
Corporate and other		5		5
Total	$	150	$	141

	*Six months ended*
	*June 30,*
	*2026*		*2025*
Capital expenditures:
Polyurethanes	$	40	$	34
Performance Products		13		28
Advanced Materials		13		10
Total reportable segments’ capital expenditures		66		72
Corporate and other		2		1
Total	$	68	$	73

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details