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

Annual report pursuant to Section 13 and 15(d)

OPERATING SEGMENT INFORMATION (Tables)

OPERATING SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of major products by reportable operating segment

Segment		Products

Polyurethanes		MDI, PO, polyols, PG, TPU, aniline and MTBE
Performance Products		amines, surfactants, LAB, maleic anhydride, other performance chemicals, EG, olefins and technology licenses
Advanced Materials		Basic liquid and solid epoxy resins; specialty resin compounds; cross-linking, matting and curing agents; epoxy, acrylic and polyurethane-based formulations
Textile Effects		textile chemicals and dyes
Pigments		titanium dioxide

Operating segment information

Schedule of revenues, EBITDA, depreciation and amortization, capital expenditures and total assets

The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions):

	Year ended December 31,

	2013			2012			2011
Revenues:
Polyurethanes	$	4,964		$	4,894		$	4,434
Performance Products		3,019			3,065			3,301
Advanced Materials		1,267			1,325			1,372
Textile Effects		811			752			737
Pigments		1,269			1,436			1,642
Eliminations		(251	)		(285	)		(265	)

Total	$	11,079		$	11,187		$	11,221


Huntsman Corporation:
Segment EBITDA(1):
Polyurethanes	$	696		$	726		$	469
Performance Products		372			360			385
Advanced Materials		86			54			125
Textile Effects		(78	)		(49	)		(199	)
Pigments		79			352			501
Corporate and other(2)		(261	)		(251	)		(236	)

Subtotal		894			1,192			1,045
Discontinued Operations(3)		(5	)		(5	)		(6	)

Total		889			1,187			1,039
Interest expense, net		(190	)		(226	)		(249	)
Income tax expense—continuing operations		(125	)		(169	)		(109	)
Income tax benefit—discontinued operations		2			3			5
Depreciation and amortization		(448	)		(432	)		(439	)

Net income attributable to Huntsman Corporation	$	128		$	363		$	247


Depreciation and Amortization:
Polyurethanes	$	156		$	152		$	160
Performance Products		121			113			110
Advanced Materials		38			31			33
Textile Effects		17			23			27
Pigments		73			69			74
Corporate and other(2)		41			39			35

Subtotal		446			427			439
Discontinued Operations		2			5			—

Total	$	448		$	432		$	439

	Year ended December 31,

	2013		2012		2011
Capital Expenditures:
Polyurethanes	$	132	$	107	$	85
Performance Products		115		117		96
Advanced Materials		73		41		39
Textile Effects		31		27		34
Pigments		98		98		57
Corporate and other		22		22		19

Total	$	471	$	412	$	330

	December 31,

	2013		2012		2011
Total Assets(4):
Polyurethanes	$	2,839	$	2,733	$	2,687
Performance Products		2,320		2,242		2,205
Advanced Materials		918		909		874
Textile Effects		653		630		591
Pigments		1,469		1,536		1,376
Corporate and other		989		834		924

Total	$	9,188	$	8,884	$	8,657

(1): Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items.
(2): Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, expenses associated with the Terminated Merger and related litigation (Huntsman Corporation only), unallocated restructuring, impairment and plant closing costs and non-operating income and expense.
(3): The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.
(4): Effective in the fourth quarter of 2013, we began reclassifying cash and deferred tax amounts from our business segments to Corporate and other and we began reclassifying intercompany investment amounts from our business segments to Corporate and other to mirror the treatment of related elimination amounts. The amounts for prior periods have been reclassified to conform to the current presentation.

Schedule of revenues and long-lived assets by geographical area

	Year ended December 31,

	2013		2012		2011
By Geographic Area
Revenues(1):
United States	$	3,319	$	3,347	$	3,470
China		1,081		1,040		944
Mexico		853		954		723
Germany		586		600		638
Italy		437		465		558
Other nations		4,803		4,781		4,888

Total	$	11,079	$	11,187	$	11,221

	December 31,

	2013		2012		2011
Long-lived assets(2):
Huntsman Corporation
United States	$	1,422	$	1,387	$	1,390
The Netherlands		356		351		310
United Kingdom		312		314		306
Saudi Arabia		220		231		243
Germany		200		201		205
China		202		169		162
Italy		197		164		152
Switzerland		154		163		166
France		162		154		126
Spain		138		147		157
Other nations		461		464		405

Total	$	3,824	$	3,745	$	3,622


Huntsman International
United States	$	1,357	$	1,299	$	1,278
The Netherlands		356		351		310
United Kingdom		312		314		306
Saudi Arabia		220		231		243
Germany		200		201		205
China		202		169		162
Italy		197		164		152
Switzerland		154		163		166
France		162		154		126
Spain		138		147		157
Other nations		461		463		405

Total	$	3,759	$	3,656	$	3,510

(1): Geographic information for revenues is based upon countries into which product is sold.
(2): Long-lived assets consist of property, plant and equipment, net.

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

Operating segment information

Schedule of revenues, EBITDA, depreciation and amortization, capital expenditures and total assets

The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions):

	Year ended December 31,

	2013			2012			2011
Huntsman International:
Segment EBITDA(1):
Polyurethanes	$	696		$	726		$	469
Performance Products		372			360			385
Advanced Materials		86			54			125
Textile Effects		(78	)		(49	)		(199	)
Pigments		79			352			501
Corporate and other(2)		(262	)		(251	)		(236	)

Subtotal		893			1,192			1,045
Discontinued Operations(3)		(5	)		(5	)		(6	)

Total		888			1,187			1,039
Interest expense, net		(203	)		(238	)		(262	)
Income tax expense—continuing operations		(137	)		(179	)		(113	)
Income tax benefit—discontinued operations		2			3			5
Depreciation and amortization		(424	)		(408	)		(416	)

Net income attributable to Huntsman International LLC	$	126		$	365		$	253


Depreciation and Amortization:
Polyurethanes	$	156		$	152		$	160
Performance Products		121			113			110
Advanced Materials		38			31			33
Textile Effects		17			23			27
Pigments		73			69			74
Corporate and other(2)		17			15			12

Subtotal		422			403			416
Discontinued Operations		2			5			—

Total	$	424		$	408		$	416


Capital Expenditures:
Polyurethanes	$	132		$	107		$	85
Performance Products		115			117			96
Advanced Materials		73			41			39
Textile Effects		31			27			34
Pigments		98			98			57
Corporate and other		22			22			19

Total	$	471		$	412		$	330

	December 31,

	2013		2012		2011
Total Assets(4):
Polyurethanes	$	2,839	$	2,733	$	2,687
Performance Products		2,320		2,242		2,205
Advanced Materials		918		909		874
Textile Effects		653		630		591
Pigments		1,469		1,536		1,376
Corporate and other		1,212		820		597

Total	$	9,411	$	8,870	$	8,330

(1): Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items.
(2): Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, expenses associated with the Terminated Merger and related litigation (Huntsman Corporation only), unallocated restructuring, impairment and plant closing costs and non-operating income and expense.
(3): The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.
(4): Effective in the fourth quarter of 2013, we began reclassifying cash and deferred tax amounts from our business segments to Corporate and other and we began reclassifying intercompany investment amounts from our business segments to Corporate and other to mirror the treatment of related elimination amounts. The amounts for prior periods have been reclassified to conform to the current presentation.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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