| OTHER COMPREHENSIVE (LOSS) INCOME |
12. OTHER COMPREHENSIVE (LOSS) INCOME
The components of other comprehensive (loss) income and changes in accumulated other comprehensive (loss) income by component were as follows (dollars in millions):
Huntsman Corporation
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Foreign
currency
translation
adjustment(a) |
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Pension and
other
postretirement
benefits
adjusments,
net of tax(b) |
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Other
comprehensive
income of
unconsolidated
affiliates |
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Other, net |
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Total |
|
Amounts
attributable to
noncontrolling
interests |
|
Amounts
attributable to
Huntsman
Corporation |
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Beginning balance, January 1, 2013
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$ |
269 |
|
$ |
(1,036 |
) |
$ |
7 |
|
$ |
3 |
|
$ |
(757 |
) |
$ |
13 |
|
$ |
(744 |
) |
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Other comprehensive (loss) income before reclassifications
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(97 |
) |
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22 |
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— |
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2 |
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(73 |
) |
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3 |
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(70 |
) |
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Amounts reclassified from accumulated other comprehensive loss(c)
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— |
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28 |
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— |
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— |
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28 |
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— |
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28 |
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Net current-period other comprehensive (loss) income
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(97 |
) |
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50 |
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— |
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2 |
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(45 |
) |
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3 |
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(42 |
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Ending balance, June 30, 2013
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$ |
172 |
|
$ |
(986 |
) |
$ |
7 |
|
$ |
5 |
|
$ |
(802 |
) |
$ |
16 |
|
$ |
(786 |
) |
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- (a)
- Amounts are net of tax of $21 and $20 as of June 30, 2013 and January 1, 2013, respectively.
- (b)
- Amounts are net of tax of $182 and $197 as of June 30, 2013 and January 1, 2013, respectively.
- (c)
- See table below for details about these reclassifications.
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|
Foreign
currency
translation
adjustment(a) |
|
Pension and
other
postretirement
benefits
adjusments,
net of tax(b) |
|
Other
comprehensive
income (loss) of
unconsolidated
affiliates |
|
Other, net |
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Total |
|
Amounts
attributable to
noncontrolling
interests |
|
Amounts
attributable to
Huntsman
Corporation |
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|
Beginning balance, January 1, 2012
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|
$ |
218 |
|
$ |
(800 |
) |
$ |
8 |
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$ |
3 |
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$ |
(571 |
) |
$ |
12 |
|
$ |
(559 |
) |
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Other comprehensive income before reclassifications
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(69 |
) |
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27 |
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(1 |
) |
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(1 |
) |
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(44 |
) |
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— |
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(44 |
) |
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Amounts reclassified from accumulated other comprehensive loss(c)
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— |
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14 |
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— |
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— |
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14 |
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— |
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14 |
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Net current-period other comprehensive (loss) income
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(69 |
) |
|
41 |
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(1 |
) |
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(1 |
) |
|
(30 |
) |
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— |
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(30 |
) |
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Ending balance, June 30, 2012
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$ |
149 |
|
$ |
(759 |
) |
$ |
7 |
|
$ |
2 |
|
$ |
(601 |
) |
$ |
12 |
|
$ |
(589 |
) |
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- (a)
- Amounts are net of tax of $23 and $24 as of June 30, 2012 and January 1, 2012, respectively.
- (b)
- Amounts are net of tax of $112 and $124 as of June 30, 2012 and January 1, 2012, respectively.
- (c)
- See table below for details about these reclassifications.
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Three months
ended
June 30, 2013 |
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Six months
ended
June 30, 2013 |
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Details about Accumulated Other Comprehensive Loss
Components(a):
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Amount reclassified
from accumulated
other
comprehensive loss |
|
Amount reclassified
from accumulated
other
comprehensive loss |
|
Affected line item in the
statement where net
income is presented |
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Amortization of pension and other postretirement benefits:
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Prior service credit
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$ |
(2 |
) |
$ |
(4 |
) |
(b) |
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Actuarial loss
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21 |
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41 |
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(b)(c) |
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19 |
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37 |
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Total before tax |
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(5 |
) |
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(9 |
) |
Income tax expense |
| |
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Total reclassifications for the period
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$ |
14 |
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$ |
28 |
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Net of tax |
| |
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Three months
ended
June 30, 2012 |
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Six months
ended
June 30, 2012 |
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Details about Accumulated Other Comprehensive Loss
Components(a):
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Amount reclassified
from accumulated
other
comprehensive loss |
|
Amount reclassified
from accumulated
other
comprehensive loss |
|
Affected line item in the
statement where net
income is presented |
|
Amortization of pension and other postretirement benefits:
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Prior service credit
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$ |
(2 |
) |
$ |
(5 |
) |
(b) |
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Actuarial loss
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12 |
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|
23 |
|
(b)(c) |
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10 |
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18 |
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Total before tax |
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(3 |
) |
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(4 |
) |
Income tax expense |
| |
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Total reclassifications for the period
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$ |
7 |
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$ |
14 |
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Net of tax |
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- (a)
- Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations (unaudited).
- (b)
- These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 10. Employee Benefit Plans."
- (c)
- Amounts contain approximately $3 million and $1 million of actuarial losses related to discontinued operations for the three months ended June 30, 2013 and 2012, respectively, and $4 million and $2 million for the six months ended June 30, 2013 and 2012, respectively.
Huntsman International
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|
Foreign
currency
translation
adjustment(a) |
|
Pension and
other
postretirement
benefits
adjusments,
net of tax(b) |
|
Other
comprehensive
income of
unconsolidated
affiliates |
|
Other, net |
|
Total |
|
Amounts
attributable to
noncontrolling
interests |
|
Amounts
attributable to
Huntsman
International |
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|
Beginning balance, January 1, 2013
|
|
$ |
268 |
|
$ |
(1,076 |
) |
$ |
7 |
|
$ |
(3 |
) |
$ |
(804 |
) |
$ |
13 |
|
$ |
(791 |
) |
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Other comprehensive (loss) income before reclassifications
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|
(97 |
) |
|
22 |
|
|
— |
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|
3 |
|
|
(72 |
) |
|
3 |
|
|
(69 |
) |
|
Amounts reclassified from accumulated other comprehensive loss(c)
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|
— |
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|
30 |
|
|
— |
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|
— |
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|
30 |
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— |
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|
30 |
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| |
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Net current-period other comprehensive (loss) income
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|
(97 |
) |
|
52 |
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— |
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3 |
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(42 |
) |
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3 |
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(39 |
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Ending balance, June 30, 2013
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$ |
171 |
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$ |
(1,024 |
) |
$ |
7 |
|
$ |
— |
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$ |
(846 |
) |
$ |
16 |
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$ |
(830 |
) |
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- (a)
- Amounts are net of tax of $8 and $7 as of June 30, 2013 and January 1, 2013, respectively.
- (b)
- Amounts are net of tax of $213 and $228 as of June 30, 2013 and January 1, 2013, respectively.
- (c)
- See table below for details about these reclassifications.
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|
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|
Foreign
currency
translation
adjustment(a) |
|
Pension and
other
postretirement
benefits
adjusments,
net of tax(b) |
|
Other
comprehensive
income (loss) of
unconsolidated
affiliates |
|
Other, net |
|
Total |
|
Amounts
attributable to
noncontrolling
interests |
|
Amounts
attributable to
Huntsman
International |
|
|
Beginning balance, January 1, 2012
|
|
$ |
217 |
|
$ |
(845 |
) |
$ |
8 |
|
$ |
(3 |
) |
$ |
(623 |
) |
$ |
12 |
|
$ |
(611 |
) |
|
Other comprehensive income before reclassifications
|
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|
(69 |
) |
|
27 |
|
|
(1 |
) |
|
— |
|
|
(43 |
) |
|
— |
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|
(43 |
) |
|
Amounts reclassified from accumulated other comprehensive loss(c)
|
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|
— |
|
|
16 |
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|
— |
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|
— |
|
|
16 |
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|
— |
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|
16 |
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| |
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Net current-period other comprehensive (loss) income
|
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|
(69 |
) |
|
43 |
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|
(1 |
) |
|
— |
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|
(27 |
) |
|
— |
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(27 |
) |
| |
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Ending balance, June 30, 2012
|
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$ |
148 |
|
$ |
(802 |
) |
$ |
7 |
|
$ |
(3 |
) |
$ |
(650 |
) |
$ |
12 |
|
$ |
(638 |
) |
| |
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|
- (a)
- Amounts are net of tax of $10 and $11 as of June 30, 2012 and January 1, 2012, respectively.
- (b)
- Amounts are net of tax of $143 and $156 as of June 30, 2012 and January 1, 2012, respectively.
- (c)
- See table below for details about these reclassifications.
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Three months
ended
June 30, 2013 |
|
Six months
ended
June 30, 2013 |
|
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|
Details about Accumulated Other Comprehensive Loss
Components(a):
|
|
Amount reclassified
from accumulated
other
comprehensive loss |
|
Amount reclassified
from accumulated
other
comprehensive loss |
|
Affected line item in the
statement where net
income is presented |
|
Amortization of pension and other postretirement benefits:
|
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|
|
|
|
|
|
|
|
Prior service credit
|
|
$ |
(2 |
) |
$ |
(4 |
) |
(b) |
|
Actuarial loss
|
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|
22 |
|
|
43 |
|
(b)(c) |
| |
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|
20 |
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|
39 |
|
Total before tax |
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(4 |
) |
|
(9 |
) |
Income tax expense |
| |
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|
Total reclassifications for the period
|
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$ |
16 |
|
$ |
30 |
|
Net of tax |
| |
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Three months
ended
June 30, 2012 |
|
Six months
ended
June 30, 2012 |
|
|
|
Details about Accumulated Other Comprehensive Loss
Components(a):
|
|
Amount reclassified
from accumulated
other
comprehensive loss |
|
Amount reclassified
from accumulated
other
comprehensive loss |
|
Affected line item in the
statement where net
income is presented |
|
Amortization of pension and other postretirement benefits:
|
|
|
|
|
|
|
|
|
|
Prior service credit
|
|
$ |
(2 |
) |
$ |
(5 |
) |
(b) |
|
Actuarial loss
|
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|
13 |
|
|
25 |
|
(b)(c) |
| |
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|
11 |
|
|
20 |
|
Total before tax |
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|
|
(2 |
) |
|
(4 |
) |
Income tax expense |
| |
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|
|
|
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|
Total reclassifications for the period
|
|
$ |
9 |
|
$ |
16 |
|
Net of tax |
| |
|
|
|
|
|
|
- (a)
- Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations (unaudited).
- (b)
- These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 10. Employee Benefit Plans."
- (c)
- Amounts contain approximately $3 million and $1 million of actuarial losses related to discontinued operations for the three months ended June 30, 2013 and 2012, respectively, and $4 million and $2 million for the six months ended June 30, 2013 and 2012, respectively.
|