Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Schedule I-Condensed Financial Information of Registrant

Schedule I-Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2013

Schedule I-Condensed Financial Information of Registrant

Schedule I-Condensed Financial Information of Registrant

HUNTSMAN CORPORATION (PARENT ONLY)
Schedule I—Condensed Financial Information of Registrant
HUNTSMAN CORPORATION (Parent Only)
BALANCE SHEETS
(In Millions, Except Share and Per Share Amounts)

	December 31,

	2013			2012
ASSETS
Cash and cash equivalents	$	5		$	177
Receivable from affiliate		7			13
Note receivable from affiliate		100			100

Total current assets		112			290
Note receivable from affiliate-long-term		772			595
Investment in and advances to affiliates		1,399			1,146

Total assets	$	2,283		$	2,031


LIABILITIES AND STOCKHOLDERS' EQUITY
Payable to affiliate	$	292		$	250
Accrued liabilities		2			2

Total current liabilities		294			252
Other long-term liabilities		9			6

Total liabilities		303			258

STOCKHOLDERS' EQUITY
Common stock $0.01 par value, 1,200,000,000 shares authorized, 245,930,859 and 243,813,779 issued and 240,401,442 and 238,273,422 outstanding in 2013 and 2012, respectively		2			2
Additional paid-in capital		3,305			3,264
Treasury stock, 4,043,526 shares at both December 31, 2013 and 2012		(50	)		(50	)
Unearned stock-based compensation		(13	)		(12	)
Accumulated deficit		(687	)		(687	)
Accumulated other comprehensive loss		(577	)		(744	)

Total stockholders' equity		1,980			1,773

Total liabilities and stockholders' equity	$	2,283		$	2,031

HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF OPERATIONS
(In Millions)

	Year ended December 31,

	2013			2012			2011
Selling, general and administrative	$	(13	)	$	(3	)	$	(15	)
Interest income, net		13			13			13
Equity in income of subsidiaries		32			257			170
Dividend income—affiliate		96			96			79
Income tax benefit		—			—			—

Net income	$	128		$	363		$	247

HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In Millions)

	Year ended December 31,

	2013			2012			2011
Net income	$	128		$	363		$	247
Other comprehensive income (loss), net of tax:
Foreign currency translations adjustments, net of tax of $13, $20 and $24 in 2013, 2012 and 2011, respectively		(23	)		51			(80	)
Pension and other postretirement benefits adjustments, net of tax of $83, $197 and $124 in 2013, 2012 and 2011, respectively		185			(236	)		(187	)
Other, net		31			9			7

Other comprehensive income (loss), net of tax		193			(176	)		(260	)

Comprehensive income (loss)		321			187			(13	)
Comprehensive income attributable to noncontrolling interests		(26	)		(9	)		(2	)

Comprehensive income (loss) attributable to Huntsman Corporation	$	295		$	178		$	(15	)

HUNTSMAN CORPORATION (Parent Only)

STATEMENTS OF STOCKHOLDERS' EQUITY

(In Millions, Except Share Amounts)

	Huntsman Corporation Stockholders' Equity

	Shares
	Shares																	Accumulated other comprehensive loss
	Common stock			Common stock		Additional paid-in capital			Treasury stock			Unearned stock-based compensation			Accumulated deficit			Accumulated other comprehensive loss			Total equity
Balance, January 1, 2011		236,799,455		$	2	$	3,186		$	—		$	(11	)	$	(1,090	)	$	(297	)	$	1,790
Net income		—			—		—			—			—			247			—			247
Other comprehensive loss		—			—		—			—			—			—			(262	)		(262	)
Issuance of nonvested stock awards		—			—		11			—			(11	)		—			—			—
Vesting of stock awards		2,229,418			—		13			—			—			—			—			13
Recognition of stock-based compensation		—			—		5			—			10			—			—			15
Repurchase of common stock		(4,043,526	)		—		—			(50	)		—			—			—			(50	)
Repurchase and cancellation of stock awards		(507,624	)		—		—			—			—			(8	)		—			(8	)
Stock options exercised		1,268,364			—		3			—			—			—			—			3
Excess tax benefit related to stock- based compensation		—			—		10			—			—			—			—			10
Dividends declared on common stock		—			—		—			—			—			(96	)		—			(96	)

Balance, December 31, 2011		235,746,087			2		3,228			(50	)		(12	)		(947	)		(559	)		1,662
Net income		—			—		—			—			—			363			—			363
Other comprehensive loss		—			—		—			—			—			—			(185	)		(185	)
Issuance of nonvested stock awards		—			—		12			—			(12	)		—			—			—
Vesting of stock awards		2,162,043			—		10			—			—			—			—			10
Recognition of stock-based compensation		—			—		9			—			12			—			—			21
Repurchase and cancellation of stock awards		(537,039	)		—		—			—			—			(7	)		—			(7	)
Stock options exercised		902,331			—		3			—			—			—			—			3
Excess tax benefit related to stock- based compensation		—			—		4			—			—			—			—			4
Acquisition of a business		—					(2	)		—			—			—			—			(2	)
Dividends declared on common stock		—			—		—			—			—			(96	)		—			(96	)

Balance, December 31, 2012		238,273,422			2		3,264			(50	)		(12	)		(687	)		(744	)		1,773
Net income		—			—		—			—			—			128			—			128
Other comprehensive income		—			—		—			—			—			—			167			167
Issuance of nonvested stock awards		—			—		14			—			(14	)		—			—			—
Vesting of stock awards		1,067,888			—		5			—			—			—			—			5
Recognition of stock-based compensation		—			—		8			—			13			—			—			21
Repurchase and cancellation of stock awards		(304,209	)		—		—			—			—			(6	)		—			(6	)
Stock options exercised		1,364,341			—		13			—			—			—			—			13
Excess tax benefit related to stock- based compensation		—			—		1			—			—			—			—			1
Accrued and unpaid dividends		—			—		—			—			—			(2	)		—			(2	)
Dividends declared on common stock		—			—		—			—			—			(120	)		—			(120	)

Balance, December 31, 2013		240,401,442		$	2	$	3,305		$	(50	)	$	(13	)	$	(687	)	$	(577	)	$	1,980

This statement should be read in conjunction with the notes to the consolidated financial statements.

HUNTSMAN CORPORATION (Parent Only)

STATEMENTS OF CASH FLOWS

(In Millions)

	Year ended December 31,

	2013			2012			2011
Operating Activities:
Net income	$	128		$	363		$	247
Equity in income of subsidiaries		(32	)		(257	)		(170	)
Stock-based compensation		1			1			1
Noncash interest expense (income)		6			(13	)		(13	)
Changes in operating assets and liabilities		63			128			62

Net cash provided by operating activities		166			222			127

Investing Activities:
Loan to affiliate		(177	)		(299	)		(105	)
Repayments of loan by affiliate		—			139			105

Net cash used in investing activities		(177	)		(160	)		—

Financing Activities:
Dividends paid to common stockholders		(120	)		(96	)		(96	)
Repurchase and cancellation of stock awards		(6	)		(7	)		(8	)
Proceeds from issuance of common stock		13			3			3
Repuchase of common stock		—			—			(50	)
Increase in payable to affiliates		(48	)		(108	)		(57	)
Other, net		—			—			(1	)

Net cash used in financing activities		(161	)		(208	)		(209	)

Decrease in cash and cash equivalents		(172	)		(146	)		(82	)
Cash and cash equivalents at beginning of period		177			323			405

Cash and cash equivalents at end of period	$	5		$	177		$	323

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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