Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 554 [1] $ 966 [1]
Restricted cash 8 [1] 7 [1]
Accounts and notes receivable (net of allowance for doubtful accounts of $46 and $52, respectively), ($659 and $589 pledged as collateral, respectively) 1,529 [1] 1,413 [1]
Accounts receivable from affiliates 5 15
Inventories 1,539 [1] 1,396 [1]
Prepaid expenses 46 46
Deferred income taxes 20 1
Other current assets 245 [1] 164 [1]
Total current assets 3,946 4,008
Property, plant and equipment, net 3,622 [1] 3,605 [1]
Investment in unconsolidated affiliates 202 234
Intangible assets, net 91 [1] 105 [1]
Goodwill 114 94
Deferred income taxes 195 166
Notes receivable from affiliates 5 7
Other noncurrent assets 482 [1] 495 [1]
Total assets 8,657 8,714
Current liabilities:    
Accounts payable 862 [1] 842 [1]
Accounts payable to affiliates 50 45
Accrued liabilities 695 [1] 628 [1]
Deferred income taxes 7 19
Current portion of debt 212 [1] 519 [1]
Total current liabilities 1,826 2,053
Long-term debt 3,730 [1] 3,627 [1]
Notes payable to affiliates 4 4
Deferred income taxes 309 314
Other noncurrent liabilities 1,012 [1] 866 [1]
Total liabilities 6,881 6,864
Commitments and contingencies (Notes 19 and 20)      
Huntsman Corporation stockholders' equity or Huntsman International LLC members' equity:    
Common stock $0.01 par value, 1,200,000,000 shares authorized, 241,836,001 and 239,549,365 issued and 235,746,087 and 236,799,455 outstanding in 2011 and 2010, respectively 2 2
Additional paid-in capital 3,228 3,186
Treasury stock 4,043,526 shares at December 31, 2011 (50)  
Unearned stock-based compensation (12) (11)
Accumulated deficit (947) (1,090)
Accumulated other comprehensive loss (559) (297)
Total Huntsman Corporation stockholders' equity 1,662 1,790
Noncontrolling interests in subsidiaries 114 60
Total equity 1,776 1,850
Total liabilities and equity 8,657 8,714
Huntsman International LLC and Subsidiaries
    
Current assets:    
Cash and cash equivalents 231 [1] 561 [1]
Restricted cash 8 [1] 7 [1]
Accounts and notes receivable (net of allowance for doubtful accounts of $46 and $52, respectively), ($659 and $589 pledged as collateral, respectively) 1,529 [1] 1,413 [1]
Accounts receivable from affiliates 148 100
Inventories 1,539 [1] 1,396 [1]
Prepaid expenses 46 45
Deferred income taxes 40 40
Other current assets 220 [1] 160 [1]
Total current assets 3,761 3,722
Property, plant and equipment, net 3,510 [1] 3,469 [1]
Investment in unconsolidated affiliates 202 234
Intangible assets, net 93 [1] 107 [1]
Goodwill 114 94
Deferred income taxes 163 179
Notes receivable from affiliates 5 7
Other noncurrent assets 482 [1] 495 [1]
Total assets 8,330 8,307
Current liabilities:    
Accounts payable 862 [1] 840 [1]
Accounts payable to affiliates 64 59
Accrued liabilities 694 [1] 626 [1]
Deferred income taxes 29 63
Note payable to affiliate 100 100
Current portion of debt 212 [1] 519 [1]
Total current liabilities 1,961 2,207
Long-term debt 3,730 [1] 3,627 [1]
Notes payable to affiliates 439 439
Deferred income taxes 106 94
Other noncurrent liabilities 1,003 [1] 852 [1]
Total liabilities 7,239 7,219
Commitments and contingencies (Notes 19 and 20)      
Huntsman Corporation stockholders' equity or Huntsman International LLC members' equity:    
Members' equity, 2,728 units issued and outstanding 3,081 3,049
Accumulated deficit (1,493) (1,667)
Accumulated other comprehensive loss (611) (354)
Total Huntsman International LLC members' equity 977 1,028
Noncontrolling interests in subsidiaries 114 60
Total equity 1,091 1,088
Total liabilities and equity $ 8,330 $ 8,307
[1] At December 31, 2011 and 2010, respectively, $44 and $7 of cash and cash equivalents, $2 and nil of restricted cash, $29 and $8 of accounts and notes receivable (net), $47 and $45 of inventories, $1 and $2 of other current assets, $403 and $275 of property, plant and equipment (net), $23 and $7 of intangible assets (net), $21 and $18 of other noncurrent assets, $55 and $56 of accounts payable, $21 and $16 of accrued liabilities, $16 and $15 of current portion of debt, $264 and $185 of long-term debt, and $111 and $109 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 7. Variable Interest Entities."