Annual report pursuant to Section 13 and 15(d)

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)

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SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)
12 Months Ended
Dec. 31, 2013
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

    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.