| OTHER COMPREHENSIVE INCOME |
12. OTHER COMPREHENSIVE INCOME
The components of other comprehensive income and changes in accumulated other comprehensive loss 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
adjustments,
net of tax(b) |
|
Other
comprehensive
income 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, 2013
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$ |
269 |
|
$ |
(1,036 |
) |
$ |
7 |
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$ |
3 |
|
$ |
(757 |
) |
$ |
13 |
|
$ |
(744 |
) |
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Other comprehensive (loss) income before reclassifications
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(44 |
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22 |
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2 |
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3 |
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(17 |
) |
|
1 |
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(16 |
) |
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Amounts reclassified from accumulated other comprehensive loss(c)
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— |
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|
46 |
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— |
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— |
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46 |
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— |
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46 |
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Net current-period other comprehensive (loss) income
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(44 |
) |
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68 |
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2 |
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3 |
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29 |
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1 |
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30 |
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Ending balance, September 30, 2013
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$ |
225 |
|
$ |
(968 |
) |
$ |
9 |
|
$ |
6 |
|
$ |
(728 |
) |
$ |
14 |
|
$ |
(714 |
) |
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- (a)
- Amounts are net of tax of $18 and $20 as of September 30, 2013 and January 1, 2013, respectively.
- (b)
- Amounts are net of tax of $176 and $197 as of September 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
adjustments,
net of tax(b) |
|
Other
comprehensive
income of
unconsolidated
affiliates |
|
Other, net |
|
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 |
|
$ |
3 |
|
$ |
(571 |
) |
$ |
12 |
|
$ |
(559 |
) |
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Other comprehensive income before reclassifications
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25 |
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27 |
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(1 |
) |
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(1 |
) |
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50 |
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(2 |
) |
|
48 |
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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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| |
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Net current-period other comprehensive income (loss)
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25 |
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|
55 |
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(1 |
) |
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(1 |
) |
|
78 |
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(2 |
) |
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76 |
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Ending balance, September 30, 2012
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$ |
243 |
|
$ |
(745 |
) |
$ |
7 |
|
$ |
2 |
|
$ |
(493 |
) |
$ |
10 |
|
$ |
(483 |
) |
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- (a)
- Amounts are net of tax of $23 and $24 as of September 30, 2012 and January 1, 2012, respectively.
- (b)
- Amounts are net of tax of $109 and $124 as of September 30, 2012 and January 1, 2012, respectively.
- (c)
- See table below for details about these reclassifications.
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Three months ended
September 30, 2013 |
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Nine months ended
September 30, 2013 |
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Affected line item
in the statement
where net income
is presented |
|
Details about Accumulated Other
Comprehensive Loss Components(a):
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Amount reclassified from
accumulated other
comprehensive loss |
|
Amount reclassified from
accumulated other
comprehensive loss |
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Amortization of pension and other postretirement benefits:
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Prior service credit
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$ |
(2 |
) |
$ |
(6 |
) |
(b) |
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Actuarial loss
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20 |
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61 |
|
(b)(c) |
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Settlement loss
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6 |
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6 |
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(b) |
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24 |
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61 |
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Total before tax |
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(6 |
) |
|
(15 |
) |
Income tax expense |
| |
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Total reclassifications for the period
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$ |
18 |
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$ |
46 |
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Net of tax |
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Three months ended
September 30, 2012 |
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Nine months ended
September 30, 2012 |
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Affected line item
in the statement
where net income
is presented |
|
Details about Accumulated Other
Comprehensive Loss Components(a):
|
|
Amount reclassified from
accumulated other
comprehensive loss |
|
Amount reclassified from
accumulated other
comprehensive loss |
|
Amortization of pension and other postretirement benefits:
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Prior service credit
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$ |
(3 |
) |
$ |
(8 |
) |
(b) |
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Actuarial loss
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|
11 |
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|
34 |
|
(b)(c) |
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Settlement loss
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8 |
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8 |
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(b) |
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16 |
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34 |
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Total before tax |
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(2 |
) |
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(6 |
) |
Income tax expense |
| |
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Total reclassifications for the period
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$ |
14 |
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$ |
28 |
|
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 $1 million each of actuarial losses related to discontinued operations for the three months ended September 30, 2013 and 2012, and $5 million and $3 million for the nine months ended September 30, 2013 and 2012, respectively.
Huntsman International
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|
Foreign
currency
translation
adjustment(a) |
|
Pension
and other
postretirement
benefits
adjustments,
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, 2013
|
|
$ |
268 |
|
$ |
(1,076 |
) |
$ |
7 |
|
$ |
(3 |
) |
$ |
(804 |
) |
$ |
13 |
|
$ |
(791 |
) |
| |
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Other comprehensive (loss) income before reclassifications
|
|
|
(44 |
) |
|
22 |
|
|
2 |
|
|
3 |
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|
(17 |
) |
|
1 |
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(16 |
) |
|
Amounts reclassified from accumulated other comprehensive loss(c)
|
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|
— |
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|
49 |
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— |
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— |
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|
49 |
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— |
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|
49 |
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| |
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Net current-period other comprehensive (loss) income
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|
(44 |
) |
|
71 |
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|
2 |
|
|
3 |
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|
32 |
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|
1 |
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|
33 |
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| |
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Ending balance, September 30, 2013
|
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$ |
224 |
|
$ |
(1,005 |
) |
$ |
9 |
|
$ |
— |
|
$ |
(772 |
) |
$ |
14 |
|
$ |
(758 |
) |
| |
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- (a)
- Amounts are net of tax of $5 and $7 as of September 30, 2013 and January 1, 2013, respectively.
- (b)
- Amounts are net of tax of $206 and $228 as of September 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
adjustments,
net of tax
(b) |
|
Other
comprehensive
income 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 |
) |
| |
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Other comprehensive income before reclassifications
|
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|
25 |
|
|
27 |
|
|
(1 |
) |
|
— |
|
|
51 |
|
|
(2 |
) |
|
49 |
|
|
Amounts reclassified from accumulated other comprehensive loss(c)
|
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|
— |
|
|
31 |
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|
— |
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|
— |
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|
31 |
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— |
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|
31 |
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| |
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|
Net current-period other comprehensive income (loss)
|
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|
25 |
|
|
58 |
|
|
(1 |
) |
|
— |
|
|
82 |
|
|
(2 |
) |
|
80 |
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| |
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|
Ending balance, September 30, 2012
|
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$ |
242 |
|
$ |
(787 |
) |
$ |
7 |
|
$ |
(3 |
) |
$ |
(541 |
) |
$ |
10 |
|
$ |
(531 |
) |
| |
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|
- (a)
- Amounts are net of tax of $10 and $11 as of September 30, 2012 and January 1, 2012, respectively.
- (b)
- Amounts are net of tax of $140 and $156 as of September 30, 2012 and January 1, 2012, respectively.
- (c)
- See table below for details about these reclassifications.
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Three months ended
September 30, 2013 |
|
Nine months ended
September 30, 2013 |
|
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|
|
Affected line item
in the statement
where net income
is presented |
|
Details about Accumulated Other
Comprehensive Loss Components(a):
|
|
Amount reclassified from
accumulated other
comprehensive loss |
|
Amount reclassified from
accumulated other
comprehensive loss |
|
Amortization of pension and other postretirement benefits:
|
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|
|
|
|
|
|
|
|
Prior service credit
|
|
$ |
(2 |
) |
$ |
(6 |
) |
(b) |
|
Actuarial loss
|
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|
23 |
|
|
66 |
|
(b)(c) |
|
Settlement loss
|
|
|
6 |
|
|
6 |
|
(b) |
| |
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|
|
|
|
|
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|
27 |
|
|
66 |
|
Total before tax |
|
|
|
|
(8 |
) |
|
(17 |
) |
Income tax expense |
| |
|
|
|
|
|
|
|
Total reclassifications for the period
|
|
$ |
19 |
|
$ |
49 |
|
Net of tax |
| |
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|
Three months ended
September 30, 2012 |
|
Nine months ended
September 30, 2012 |
|
|
|
|
Affected line item
in the statement
where net income
is presented |
|
Details about Accumulated Other
Comprehensive Loss Components(a):
|
|
Amount reclassified from
accumulated other
comprehensive loss |
|
Amount reclassified from
accumulated other
comprehensive loss |
|
Amortization of pension and other postretirement benefits:
|
|
|
|
|
|
|
|
|
|
Prior service credit
|
|
$ |
(3 |
) |
$ |
(8 |
) |
(b) |
|
Actuarial loss
|
|
|
13 |
|
|
38 |
|
(b)(c) |
|
Settlement loss
|
|
|
8 |
|
|
8 |
|
(b) |
| |
|
|
|
|
|
|
|
|
|
|
18 |
|
|
38 |
|
Total before tax |
|
|
|
|
(3 |
) |
|
(7 |
) |
Income tax benefit (expense) |
| |
|
|
|
|
|
|
|
Total reclassifications for the period
|
|
$ |
15 |
|
$ |
31 |
|
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 $1 million each of actuarial losses related to discontinued operations for the three months ended September 30, 2013 and 2012, and $5 million and $3 million for the nine months ended September 30, 2013 and 2012, respectively.
|