| OTHER COMPREHENSIVE INCOME (LOSS) |
22. OTHER COMPREHENSIVE INCOME (LOSS)
Other comprehensive income (loss) consisted of the following (dollars in millions):
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Foreign
currency
translation
adjustment(a) |
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Pension
and other
postretirement
benefits
adjustments,
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 |
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Amounts
attributable to
noncontrolling
interests |
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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 |
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$ |
(757 |
) |
$ |
13 |
|
$ |
(744 |
) |
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Other comprehensive (loss) income before reclassifications
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(23 |
) |
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246 |
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5 |
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5 |
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233 |
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(5 |
) |
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228 |
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Amounts reclassified from accumulated other comprehensive loss(c)
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— |
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(61 |
) |
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— |
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— |
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(61 |
) |
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— |
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(61 |
) |
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Net current-period other comprehensive (loss) income
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(23 |
) |
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185 |
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5 |
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5 |
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172 |
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(5 |
) |
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167 |
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Ending balance, December 31, 2013
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$ |
246 |
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$ |
(851 |
) |
$ |
12 |
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$ |
8 |
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$ |
(585 |
) |
$ |
8 |
|
$ |
(577 |
) |
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- (a)
- Amounts are net of tax of $13 and $20 as of December 31, 2013 and January 1, 2013, respectively.
- (b)
- Amounts are net of tax of $83 and $197 as of December 31, 2013 and January 1, 2013, respectively.
- (c)
- See table below for details about these reclassifications.
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Foreign
currency
translation
adjustment(a) |
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Pension
and other
postretirement
benefits
adjustments,
net of tax(b) |
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Other
comprehensive
income (loss) of
unconsolidated
affiliates |
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Other, net |
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Total |
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Amounts
attributable to
noncontrolling
interests |
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Amounts
attributable to
Huntsman
Corporation |
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Beginning balance, January 1, 2012
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$ |
218 |
|
$ |
(800 |
) |
$ |
8 |
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$ |
3 |
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$ |
(571 |
) |
$ |
12 |
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$ |
(559 |
) |
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Other comprehensive income (loss) before reclassifications
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51 |
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(194 |
) |
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(1 |
) |
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— |
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(144 |
) |
|
1 |
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(143 |
) |
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Amounts reclassified from accumulated other comprehensive loss(c)
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— |
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(42 |
) |
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— |
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— |
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(42 |
) |
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— |
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(42 |
) |
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Net current-period other comprehensive income (loss)
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51 |
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(236 |
) |
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(1 |
) |
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— |
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(186 |
) |
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1 |
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(185 |
) |
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Ending balance, December 31, 2012
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$ |
269 |
|
$ |
(1,036 |
) |
$ |
7 |
|
$ |
3 |
|
$ |
(757 |
) |
$ |
13 |
|
$ |
(744 |
) |
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- (a)
- Amounts are net of tax of $20 and $24 as of December 31, 2012 and January 1, 2012, respectively.
- (b)
- Amounts are net of tax of $197 and $124 as of December 31, 2012 and January 1, 2012, respectively.
- (c)
- See table below for details about these reclassifications.
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Year ended
December 31, 2013 |
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Year ended
December 31, 2012 |
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Year ended
December 31, 2011 |
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Details about Accumulated Other
Comprehensive Loss Components(a):
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Amount reclassified
from accumulated
other
comprehensive loss |
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Amount reclassified
from accumulated
other
comprehensive loss |
|
Amount reclassified
from accumulated
other
comprehensive loss |
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Affected line item in
the statement where
net income is
presented |
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Amortization of pension and other postretirement benefits:
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Prior service credit
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$ |
8 |
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$ |
10 |
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$ |
9 |
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(b) |
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Actuarial loss
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(80 |
) |
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(46 |
) |
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(34 |
) |
(b)(c) |
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Settlement loss
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(12 |
) |
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(13 |
) |
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— |
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(b) |
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(84 |
) |
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(49 |
) |
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(25 |
) |
Total before tax |
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23 |
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7 |
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5 |
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Income tax expense |
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Total reclassifications for the period
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$ |
(61 |
) |
$ |
(42 |
) |
$ |
(20 |
) |
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.
- (b)
- These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 16. Employee Benefit Plans."
- (c)
- Amounts contain approximately $6 million, $4 million and $3 million of actuarial losses related to discontinued operations for the years ended December 31, 2013, 2012 and 2011, respectively.
Huntsman International
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Foreign
currency
translation
adjustment(a) |
|
Pension
and other
postretirement
benefits
adjustments,
net of tax(b) |
|
Other
comprehensive
income of
unconsolidated
affiliates |
|
Other, net |
|
Total |
|
Amounts
attributable to
noncontrolling
interests |
|
Amounts
attributable to
Huntsman
International |
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|
Beginning balance, January 1, 2013
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$ |
268 |
|
$ |
(1,076 |
) |
$ |
7 |
|
$ |
(3 |
) |
$ |
(804 |
) |
$ |
13 |
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$ |
(791 |
) |
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Other comprehensive (loss) income before reclassifications
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|
(25 |
) |
|
259 |
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|
5 |
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|
5 |
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|
244 |
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(5 |
) |
|
239 |
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Amounts reclassified from accumulated other comprehensive loss(c)
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|
— |
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|
(66 |
) |
|
— |
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— |
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(66 |
) |
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— |
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(66 |
) |
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Net current-period other comprehensive (loss) income
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(25 |
) |
|
193 |
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5 |
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5 |
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|
178 |
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(5 |
) |
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173 |
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Ending balance, December 31, 2013
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$ |
243 |
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$ |
(883 |
) |
$ |
12 |
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$ |
2 |
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$ |
(626 |
) |
$ |
8 |
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$ |
(618 |
) |
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- (a)
- Amounts are net of tax of nil and $7 as of December 31, 2013 and January 1, 2013, respectively.
- (b)
- Amounts are net of tax of $113 and $228 as of December 31, 2013 and January 1, 2013, respectively.
- (c)
- See table below for details about these reclassifications.
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|
Foreign
currency
translation
adjustment(a) |
|
Pension
and other
postretirement
benefits
adjustments,
net of tax(b) |
|
Other
comprehensive
income (loss) of
unconsolidated
affiliates |
|
Other, net |
|
Total |
|
Amounts
attributable to
noncontrolling
interests |
|
Amounts
attributable to
Huntsman
International |
|
|
Beginning balance, January 1, 2012
|
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$ |
217 |
|
$ |
(845 |
) |
$ |
8 |
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$ |
(3 |
) |
$ |
(623 |
) |
$ |
12 |
|
$ |
(611 |
) |
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Other comprehensive income (loss) before reclassifications
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|
51 |
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|
(185 |
) |
|
(1 |
) |
|
— |
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|
(135 |
) |
|
1 |
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(134 |
) |
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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 income (loss)
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51 |
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(231 |
) |
|
(1 |
) |
|
— |
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(181 |
) |
|
1 |
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(180 |
) |
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Ending balance, December 31, 2012
|
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$ |
268 |
|
$ |
(1,076 |
) |
$ |
7 |
|
$ |
(3 |
) |
$ |
(804 |
) |
$ |
13 |
|
$ |
(791 |
) |
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- (a)
- Amounts are net of tax of $7 and $11 as of December 31, 2012 and January 1, 2012, respectively.
- (b)
- Amounts are net of tax of $228 and $155 as of December 31, 2012 and January 1, 2012, respectively.
- (c)
- See table below for details about these reclassifications.
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Year ended
December 31, 2013 |
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Year ended
December 31, 2012 |
|
Year ended
December 31, 2011 |
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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 |
|
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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|
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|
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|
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|
Prior service credit
|
|
$ |
8 |
|
$ |
10 |
|
$ |
9 |
|
(b) |
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Actuarial loss
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|
(86 |
) |
|
(51 |
) |
|
(39 |
) |
(b)(c) |
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Settlement loss
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(12 |
) |
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(13 |
) |
|
— |
|
(b) |
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|
(90 |
) |
|
(54 |
) |
|
(30 |
) |
Total before tax |
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|
24 |
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|
8 |
|
|
6 |
|
Income tax expense |
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|
Total reclassifications for the period
|
|
$ |
(66 |
) |
$ |
(46 |
) |
$ |
(24 |
) |
Net of tax |
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- (a)
- Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations.
- (b)
- These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 16. Employee Benefit Plans."
- (c)
- Amounts contain approximately $6 million and $4 million and $3 million of actuarial losses related to discontinued operations for the years ended December 31, 2013, 2012 and 2011, respectively.
Items of other comprehensive income (loss) of our Company and our consolidated affiliates have been recorded net of tax, with the exception of the foreign currency translation adjustments related to subsidiaries with earnings permanently reinvested. The tax effect is determined based upon the jurisdiction where the income or loss was recognized and is net of valuation allowances.
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