Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

v2.4.0.8
OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 3 Months Ended
Mar. 31, 2014
Schedule of details about accumulated other comprehensive income (loss) components

The components of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

Huntsman Corporation

 
   Foreign
currency
translation
adjustment(a)		   Pension and
other
postretirement
benefits
adjustments,
net of
tax(b)		   Other
comprehensive
income of
unconsolidated
affiliates		   Other,
net		   Total   Amounts
attributable
to
noncontrolling
interests		   Amounts
attributable
to
Huntsman
Corporation		  

Beginning balance, January 1, 2014

   $ 246   $ (851 ) $ 12   $ 8   $ (585 ) $ 8   $ (577 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive (loss) income before reclassifications

     (2 )   —     —     —     (2 )   (4 )   (6 )

Amounts reclassified from accumulated other comprehensive loss(c)

     —     9     —     —     9     —     9  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive (loss) income

     (2 )   9     —     —     7     (4 )   3  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, March 31, 2014

   $ 244   $ (842 ) $ 12   $ 8   $ (578 ) $ 4   $ (574 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $13 for both March 31, 2014 and January 1, 2014.

(b)
Amounts are net of tax of $80 and $83 as of March 31, 2014 and January 1, 2014, respectively.

(c)
See table below for details about these reclassifications.

 
   Foreign
currency
translation
adjustment(a)		   Pension and
other
postretirement
benefits
adjustments,
net of
tax(b)		   Other
comprehensive
income of
unconsolidated
affiliates		   Other,
net		   Total   Amounts
attributable to
noncontrolling
interests		   Amounts
attributable
to
Huntsman
Corporation		  

Beginning balance, January 1, 2013

   $ 269   $ (1,036 ) $ 7   $ 3   $ (757 ) $ 13   $ (744 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive (loss) income before reclassifications

     (67 )   25     —     1     (41 )   —     (41 )

Amounts reclassified from accumulated other comprehensive loss(c)

     —     8     —     —     8     —     8  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive (loss) income

     (67 )   33     —     1     (33 )   —     (33 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, March 31, 2013

   $ 202   $ (1,003 ) $ 7   $ 4   $ (790 ) $ 13   $ (777 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $22 and $20 as of March 31, 2013 and January 1, 2013, respectively.

(b)
Amounts are net of tax of $187 and $197 as of March 31, 2013 and January 1, 2013, respectively.

(c)
See table below for details about these reclassifications.
Schedule of details about reclassifications from accumulated other comprehensive loss
  Three months ended March 31,    
 
   2014   2013    
Details about Accumulated Other
Comprehensive Loss Components(a):
  Amounts reclassified
from accumulated other
comprehensive loss		   Amounts reclassified
from accumulated other
comprehensive loss		   Affected line item in the
statement where net income is
presented

Amortization of pension and other postretirement benefits:

                

Prior service credit

   $ (2 ) $ (2 ) (b)

Actuarial loss

     13     20   (b)(c)

Settlement loss

     1     —   (b)
             
​ ​ ​ ​ ​ ​ ​ ​ ​

 

     12     18   Total before tax

 

     (3 )   (10 ) Income tax expense
             
​ ​ ​ ​ ​ ​ ​ ​ ​

Total reclassifications for the period

   $ 9   $ 8   Net of tax
             
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
             
(a)
Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations (unaudited).

(b)
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 10. Employee Benefit Plans."

(c)
Amounts contain approximately $1 million of actuarial losses related to discontinued operations for each of the three months ended March 31, 2014 and 2013.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
  
Schedule of details about accumulated other comprehensive income (loss) components

The components of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

 
   Foreign
currency
translation
adjustment(a)		   Pension and
other
postretirement
benefits
adjustments,
net of
tax(b)		   Other
comprehensive
income (loss)
of
unconsolidated
affiliates		   Other,
net		   Total   Amounts
attributable to
noncontrolling
interests		   Amounts
attributable
to
Huntsman
International		  

Beginning balance, January 1, 2014

   $ 243   $ (883 ) $ 12   $ 2   $ (626 ) $ 8   $ (618 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive (loss) income before reclassifications

     (3 )   —     —     1     (2 )   (4 )   (6 )

Amounts reclassified from accumulated other comprehensive loss(c)

     —     10     —     —     10     —     10  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive (loss) income

     (3 )   10     —     1     8     (4 )   4  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, March 31, 2014

   $ 240   $ (873 ) $ 12   $ 3   $ (618 ) $ 4   $ (614 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of nil for both March 31, 2014 and January 1, 2014.

(b)
Amounts are net of tax of $109 and $113 as of March 31, 2014 and January 1, 2014, respectively.

(c)
See table below for details about these reclassifications.

 
   Foreign
currency
translation
adjustment(a)		   Pension and
other
postretirement
benefits
adjustments,
net of
tax(b)		   Other
comprehensive
income of
unconsolidated
affiliates		   Other,
net		   Total   Amounts
attributable to
noncontrolling
interests		   Amounts
attributable
to
Huntsman
International		  

Beginning balance, January 1, 2013

   $ 268   $ (1,076 ) $ 7   $ (3 ) $ (804 ) $ 13   $ (791 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive (loss) income before reclassifications

     (67 )   25     —     2     (40 )   —     (40 )

Amounts reclassified from accumulated other comprehensive loss(c)

     —     8     —     —     8     —     8  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive (loss) income

     (67 )   33     —     2     (32 )   —     (32 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, March 31, 2013

   $ 201   $ (1,043 ) $ 7   $ (1 ) $ (836 ) $ 13   $ (823 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $9 and $7 as of March 31, 2013 and January 1, 2013, respectively.

(b)
Amounts are net of tax of $217 and $228 as of March 31, 2013 and January 1, 2013, respectively.

(c)
See table below for details about these reclassifications.
Schedule of details about reclassifications from accumulated other comprehensive loss
  Three months ended March 31,    
 
   2014   2013    
Details about Accumulated Other
Comprehensive Loss Components(a):
  Amounts reclassified
from accumulated other
comprehensive loss		   Amounts reclassified
from accumulated other
comprehensive loss		   Affected line item in the
statement where net income is
presented

Amortization of pension and other postretirement benefits:

                

Prior service credit

   $ (2 ) $ (2 ) (b)

Actuarial loss

     15     21   (b)(c)

Settlement loss

     1     —   (b)
             
​ ​ ​ ​ ​ ​ ​ ​ ​

 

     14     19   Total before tax

 

     (4 )   (11 ) Income tax expense
             
​ ​ ​ ​ ​ ​ ​ ​ ​

Total reclassifications for the period

   $ 10   $ 8   Net of tax
             
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
             
(a)
Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations (unaudited).

(b)
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 10. Employee Benefit Plans."

(c)
Amounts contain approximately $1 million of actuarial losses related to discontinued operations for each of the three months ended March 31, 2014 and 2013.