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

Annual report pursuant to Section 13 and 15(d)

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Dec. 31, 2013

Summary of selected unaudited quarterly financial data

A summary of selected unaudited quarterly financial data for the years ended December 31, 2013 and 2012 is as follows (dollars in millions, except per share amounts):

	Three months ended

	March 31, 2013			June 30, 2013		September 30, 2013		December 31, 2013
Revenues	$	2,702		$	2,830	$	2,842	$	2,705
Gross profit		349			451		507		446
Restructuring, impairment and plant closing costs		44			29		37		41
(Loss) income from continuing operations		(15	)		54		72		43
Net (loss) income		(17	)		54		70		42
Net (loss) income attributable to Huntsman Corporation		(24	)		47		64		41
Basic income (loss) per share(3):
(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders		(0.09	)		0.20		0.28		0.17
Net (loss) income attributable to Huntsman Corporation common stockholders		(0.10	)		0.20		0.27		0.17
Diluted (loss) income per share(3):
(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders		(0.09	)		0.19		0.27		0.17
Net (loss) income attributable to Huntsman Corporation common stockholders		(0.10	)		0.19		0.26		0.17

	Three months ended

	March 31, 2012(1)		June 30, 2012		September 30, 2012(1)		December 31, 2012(1)(2)
Revenues	$	2,913	$	2,914	$	2,741	$	2,619
Gross profit		550		527		537		420
Restructuring, impairment and plant closing costs		—		5		47		40
Income (loss) from continuing operations		167		130		120		(39	)
Income (loss) before extraordinary gain		163		128		119		(39	)
Net income (loss)		163		128		120		(38	)
Net income (loss) attributable to Huntsman Corporation		163		124		116		(40	)
Basic income (loss) per share(3):
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders		0.71		0.53		0.49		(0.17	)
Net income (loss) attributable to Huntsman Corporation common stockholders		0.69		0.52		0.49		(0.17	)
Diluted income (loss) per share(3):
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders		0.70		0.52		0.48		(0.17	)
Net income (loss) attributable to Huntsman Corporation common stockholders		0.68		0.52		0.48		(0.17	)

(1): During 2012, our Polyurethanes segment implemented a restructuring program to reduce annualized fixed costs. In connection with this program, we recorded restructuring expenses of $5 million, $32 million and $1 million in the first, third and fourth quarters of 2012, respectively.
(2): During the fourth quarter of 2012, our Advanced Materials segment began implementing a global transformational change program, subject to consultation with relevant employee representatives, designed to improve the segment's manufacturing efficiencies, enhance commercial excellence and ensure its long-term global competitiveness. In connection with this global transformational change program, we recorded charges of $28 million related primarily to workforce reduction costs.

Also during the fourth quarter of 2012, we recorded a loss on early extinguishment of debt of $77 million in connection with the redemption of $400 million of our 2016 Senior Notes.
(3): Basic and diluted income per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES

Quarterly Financial Information

Summary of selected unaudited quarterly financial data

A summary of selected unaudited quarterly financial data for the years ended December 31, 2013 and 2012 is as follows (dollars in millions, except per share amounts):

	Three months ended

	March 31, 2013			June 30, 2013		September 30, 2013		December 31, 2013
Revenues	$	2,702		$	2,830	$	2,842	$	2,705
Gross profit		353			456		511		450
Restructuring, impairment and plant closing costs		44			29		37		41
(Loss) income from continuing operations		(14	)		56		76		34
Net (loss) income		(16	)		56		74		33
Net (loss) income attributable to Huntsman International LLC		(23	)		49		68		32

	Three months ended

	March 31, 2012(1)		June 30, 2012		September 30, 2012(1)		December 31, 2012(1)(2)
Revenues	$	2,913	$	2,914	$	2,741	$	2,619
Gross profit		554		532		542		413
Restructuring, impairment and plant closing costs		—		5		47		40
Income (loss) from continuing operations		170		133		121		(44	)
Income (loss) before extraordinary gain		166		131		120		(44	)
Net income (loss)		166		131		121		(43	)
Net income (loss) attributable to Huntsman International LLC		166		127		117		(45	)

(1): During 2012, our Polyurethanes segment implemented a restructuring program to reduce annualized fixed costs. In connection with this program, we recorded restructuring expenses of $5 million, $32 million and $1 million in the first, third and fourth quarters of 2012, respectively.
(2): During the fourth quarter of 2012, our Advanced Materials segment began implementing a global transformational change program, subject to consultation with relevant employee representatives, designed to improve the segment's manufacturing efficiencies, enhance commercial excellence and ensure its long-term global competitiveness. In connection with this global transformational change program, we recorded charges of $28 million related primarily to workforce reduction costs.

Also during the fourth quarter of 2012, we recorded a loss on early extinguishment of debt of $77 million in connection with the redemption of $400 million of our 2016 Senior Notes.
(3): Basic and diluted income per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.