Huntsman Corporation Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

12 Months Ended

Dec. 31, 2013

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS

Accrued restructuring costs by type of cost and initiative

As of December 31, 2013, 2012 and 2011, accrued restructuring, impairment and plant closing costs by type of cost and initiative consisted of the following (dollars in millions):

	Workforce reductions(1)			Demolition and decommissioning			Non-cancelable contract costs			Other restructuring costs			Total(2)

Accrued liabilities as of January 1, 2011	$	36		$	1		$	7		$	5		$	49
2011 charges for 2010 and prior initiatives		4			2			10			7			23
2011 charges for 2011 initiatives		87			—			1			1			89
Reversal of reserves no longer required		(5	)		—			—			—			(5	)
2011 payments for 2010 and prior initiatives		(26	)		(3	)		(1	)		(8	)		(38	)
2011 payments for 2011 initiatives		(13	)		—			—			(1	)		(14	)
Net activity of discontinued operations		—			—			—			(2	)		(2	)
Foreign currency effect on liability balance		(10	)		—			—			—			(10	)


Accrued liabilities as of December 31, 2011		73			—			17			2			92
2012 charges for 2011 and prior initiatives		9			5			—			10			24
2012 charges for 2012 initiatives		64			—			—			5			69
Reversal of reserves no longer required		(15	)		—			—			(1	)		(16	)
2012 payments for 2011 and prior initiatives		(31	)		(6	)		(2	)		(11	)		(50	)
2012 payments for 2012 initiatives		(12	)		—			—			(6	)		(18	)
Foreign currency effect on liability balance		2			1			—			1			4


Accrued liabilities as of December 31, 2012		90			—			15			—			105
2013 charges for 2012 and prior initiatives		32			16			53			20			121
2013 charges for 2013 initiatives		28			—			—			8			36
Reversal of reserves no longer required		(22	)		—			(4	)		—			(26	)
2013 payments for 2012 and prior initiatives		(66	)		(16	)		(3	)		(19	)		(104	)
2013 payments for 2013 initiatives		(10	)		—			—			(8	)		(18	)
Net activity of discontinued operations		—			—			(3	)		—			(3	)
Foreign currency effect on liability balance		—			—			2			—			2


Accrued liabilities as of December 31, 2013	$	52		$	—		$	60		$	1		$	113

(1): The total workforce reduction reserves of $52 million relate to the termination of 403 positions, of which 324 positions had not been terminated as of December 31, 2013.
(2): Accrued liabilities remaining at December 31, 2013 and 2012 by year of initiatives were as follows (dollars in millions):

	December 31,

	2013		2012
2011 initiatives and prior	$	74	$	52
2012 initiatives		21		53
2013 initiatives		18		—


Total	$	113	$	105

Accrued liabilities by initiative

Accrued liabilities remaining at December 31, 2013 and 2012 by year of initiatives were as follows (dollars in millions):

	December 31,

	2013		2012
2011 initiatives and prior	$	74	$	52
2012 initiatives		21		53
2013 initiatives		18		—


Total	$	113	$	105

Details with respect to reserves for restructuring, impairment and plant closing costs, provided by segment and initiative

Details with respect to our reserves for restructuring, impairment and plant closing costs are provided below by segment and initiative (dollars in millions):

	Polyurethanes			Performance Products			Advanced Materials			Textile Effects			Pigments			Discontinued Operations			Corporate and other			Total

Accrued liabilities as of January 1, 2011	$	—		$	1		$	2		$	25		$	8		$	8		$	5		$	49
2011 charges for 2010 and prior initiatives		—			—			—			14			7			—			2			23
2011 charges for 2011 initiatives		—			—			21			65			3			—			—			89
Reversal of reserves no longer required		—			—			(1	)		(4	)		—			—			—			(5	)
2011 payments for 2010 and prior initiatives		—			—			(1	)		(18	)		(13	)		—			(6	)		(38	)
2011 payments for 2011 initiatives		—			—			(7	)		(5	)		(2	)		—			—			(14	)
Net activity of discontinued operations		—			—			—			—			—			(2	)		—			(2	)
Foreign currency effect on liability balance		—			—			(2	)		(8	)		—			—			—			(10	)


Accrued liabilities as of December 31, 2011		—			1			12			69			3			6			1			92
2012 charges for 2011 and prior initiatives		—			1			4			14			4			—			1			24
2012 charges for 2012 initiatives		38			—			30			—			—			—			1			69
Reversal of reserves no longer required		—			—			—			(16	)		—			—			—			(16	)
2012 payments for 2011 and prior initiatives		—			(2	)		(15	)		(27	)		(5	)		—			(1	)		(50	)
2012 payments for 2012 initiatives		(12	)		—			(6	)		—			—			—			—			(18	)
Foreign currency effect on liability balance		1			—			2			2			(1	)		—			—			4


Accrued liabilities as of December 31, 2012		27			—			27			42			1			6			2			105
2013 charges for 2012 and prior initiatives		5			—			38			73			4			—			1			121
2013 charges for 2013 initiatives		—			18			—			1			—			—			17			36
Reversal of reserves no longer required		(9	)		—			(8	)		(9	)		—			—			—			(26	)
2013 payments for 2012 and prior initiatives		(14	)		—			(45	)		(41	)		(3	)		—			(1	)		(104	)
2013 payments for 2013 initiatives		—			(7	)		—			—			(1	)		—			(10	)		(18	)
Net activity of discontinued operations		—			—			—			—			—			(3	)		—			(3	)
Foreign currency effect on liability balance		—			(1	)		—			2			1			—			—			2


Accrued liabilities as of December 31, 2013	$	9		$	10		$	12		$	68		$	2		$	3		$	9		$	113




Current portion of restructuring reserves	$	4		$	10		$	12		$	15		$	2		$	3		$	9		$	55
Long-term portion of restructuring reserve		5			—			—			53			—			—			—			58

Cash and noncash restructuring charges by initiative

Details with respect to cash and noncash restructuring charges for the years ended December 31, 2013, 2012 and 2011 by initiative are provided below (dollars in millions):


Cash charges:
2013 charges for 2012 and prior initiatives	$	121
2013 charges for 2013 initiatives		36
Reversal of reserves no longer required		(26	)
Pension-related charges		7
Non-cash charges		13


Total 2013 Restructuring, Impairment and Plant Closing Costs	$	151




Cash charges:
2012 charges for 2011 and prior initiatives	$	24
2012 charges for 2012 initiatives		69
Reversal of reserves no longer required		(16	)
Non-cash charges		15


Total 2012 Restructuring, Impairment and Plant Closing Costs	$	92




Cash charges:
2011 charges for 2010 and prior initiatives	$	23
2011 charges for 2011 initiatives		89
Reversal of reserves no longer required		(5	)
Non-cash charges		60


Total 2011 Restructuring, Impairment and Plant Closing Costs	$	167