Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Trade sales, services and fees, net $ 11,041 $ 9,049 $ 7,569
Related party sales 180 201 96
Total revenues 11,221 9,250 7,665
Cost of goods sold 9,381 7,789 6,587
Gross profit 1,840 1,461 1,078
Operating expenses:      
Selling, general and administrative 921 861 850
Research and development 166 151 145
Other operating (income) expense (20) 10 (18)
Restructuring, impairment and plant closing costs 167 29 88
Total expenses 1,234 1,051 1,065
Operating income 606 410 13
Interest expense, net (249) (229) (238)
Loss on accounts receivable securitization program     (23)
Equity in income of investment in unconsolidated affiliates 8 24 3
Loss on early extinguishment of debt (7) (183) (21)
(Expenses) income associated with the Terminated Merger and related litigation   (4) 835
Other income 2 2  
Income (loss) from continuing operations before income taxes 360 20 569
Income tax expense (109) (29) (444)
Income (loss) from continuing operations 251 (9) 125
(Loss) income from discontinued operations, (including gain on disposal of $1 in 2009), net of tax (1) 42 (19)
Income (loss) before extraordinary gain (loss) 250 33 106
Extraordinary gain (loss) on the acquisition of a business, net of tax of nil 4 (1) 6
Net income (loss) 254 32 112
Net (income) loss attributable to noncontrolling interests (7) (5) 2
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC 247 27 114
Net income (loss) 254 32 112
Other comprehensive (loss) income (267) (11) 203
Comprehensive (loss) income (13) 21 315
Comprehensive (income) loss attributable to noncontrolling interests (2) (4) 1
Comprehensive (loss) income attributable to Huntsman Corporation (15) 17 316
Basic income (loss) per share:      
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 1.03 $ (0.06) $ 0.54
Income (loss) from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)   $ 0.17 $ (0.08)
Extraordinary gain on the acquisition of a business attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) $ 0.01   $ 0.03
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 1.04 $ 0.11 $ 0.49
Weighted average shares (in shares) 237.6 236.0 233.9
Diluted income (loss) per share:      
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 1.01 $ (0.06) $ 0.53
Income (loss) from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)   $ 0.17 $ (0.08)
Extraordinary gain on the acquisition of a business attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) $ 0.01   $ 0.03
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 1.02 $ 0.11 $ 0.48
Weighted average shares (in shares) 241.7 236.0 238.3
Amounts attributable to Huntsman Corporation common stockholders:      
Income (loss) from continuing operations 244 (14) 127
(Loss) income from discontinued operations, net of tax (1) 42 (19)
Extraordinary gain (loss) on the acquisition of a business, net of tax 4 (1) 6
Net income (loss) 247 27 114
Dividends per share (in dollars per share) $ 0.40 $ 0.40 $ 0.40
Huntsman International LLC and Subsidiaries
      
Revenues:      
Trade sales, services and fees, net 11,041 9,049 7,569
Related party sales 180 201 96
Total revenues 11,221 9,250 7,665
Cost of goods sold 9,363 7,772 6,570
Gross profit 1,858 1,478 1,095
Operating expenses:      
Selling, general and administrative 916 855 839
Research and development 166 151 145
Other operating (income) expense (20)   (18)
Restructuring, impairment and plant closing costs 167 29 88
Total expenses 1,229 1,035 1,054
Operating income 629 443 41
Interest expense, net (262) (248) (240)
Loss on accounts receivable securitization program     (23)
Equity in income of investment in unconsolidated affiliates 8 24 3
Loss on early extinguishment of debt (7) (37) (21)
Other income 2 2  
Income (loss) from continuing operations before income taxes 370 184 (240)
Income tax expense (113) (40) (159)
Income (loss) from continuing operations 257 144 (399)
(Loss) income from discontinued operations, (including gain on disposal of $1 in 2009), net of tax (1) 42 (19)
Income (loss) before extraordinary gain (loss) 256 186 (418)
Extraordinary gain (loss) on the acquisition of a business, net of tax of nil 4 (1) 6
Net income (loss) 260 185 (412)
Net (income) loss attributable to noncontrolling interests (7) (5) 2
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC 253 180 (410)
Net income (loss) 260 185 (412)
Other comprehensive (loss) income (262) (7) 207
Comprehensive (loss) income (2) 178 (205)
Comprehensive (income) loss attributable to noncontrolling interests (2) (4) 1
Comprehensive (loss) income attributable to Huntsman Corporation (4) 174 (204)
Amounts attributable to Huntsman Corporation common stockholders:      
Extraordinary gain (loss) on the acquisition of a business, net of tax 4 (1) 6
Net income (loss) $ 253 $ 180 $ (410)