Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Trade sales, services and fees, net	$ 2,560us-gaap_SalesRevenueNet	$ 2,693us-gaap_SalesRevenueNet
Related party sales	29us-gaap_RevenueFromRelatedParties	62us-gaap_RevenueFromRelatedParties
Total revenues	2,589us-gaap_Revenues	2,755us-gaap_Revenues
Cost of goods sold	2,139us-gaap_CostOfGoodsSold	2,305us-gaap_CostOfGoodsSold
Gross profit	450us-gaap_GrossProfit	450us-gaap_GrossProfit
Operating expenses:
Selling, general and administrative	246	229
Research and development	42us-gaap_ResearchAndDevelopmentExpense	36us-gaap_ResearchAndDevelopmentExpense
Other operating expense (income)	(8)us-gaap_OtherOperatingIncomeExpenseNet	(4)us-gaap_OtherOperatingIncomeExpenseNet
Restructuring, impairment and plant closing costs	93	39
Total expenses	373us-gaap_OperatingExpenses	300us-gaap_OperatingExpenses
Operating income	77us-gaap_OperatingIncomeLoss	150us-gaap_OperatingIncomeLoss
Interest expense	(56)us-gaap_InterestIncomeExpenseNet	(48)us-gaap_InterestIncomeExpenseNet
Equity in income of investment in unconsolidated affiliates	2	2
Loss on early extinguishment of debt	(3)
Other (loss) income	(1)us-gaap_OtherNonoperatingIncomeExpense	1us-gaap_OtherNonoperatingIncomeExpense
Income from continuing operations before income taxes	19	105
Income tax expense	(2)us-gaap_IncomeTaxExpenseBenefit	(36)us-gaap_IncomeTaxExpenseBenefit
Income from continuing operations	17	69
Loss from discontinued operations, net of tax	(2)	(7)
Net income	15us-gaap_ProfitLoss	62us-gaap_ProfitLoss
Net income attributable to noncontrolling interests	(10)	(8)
Net income attributable to Huntsman Corporation or Huntsman International LLC	5us-gaap_NetIncomeLoss	54us-gaap_NetIncomeLoss
Basic income (loss) per share:
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.03	$ 0.25
Loss from discontinued operations 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)	$ 0.02us-gaap_EarningsPerShareBasic	$ 0.22us-gaap_EarningsPerShareBasic
Weighted average shares (in shares)	243.9	240.9
Diluted income (loss) per share:
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.03	$ 0.25
Loss from discontinued operations 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)	$ 0.02us-gaap_EarningsPerShareDiluted	$ 0.22us-gaap_EarningsPerShareDiluted
Weighted average shares (in shares)	247.2	244.5
Amounts attributable to Huntsman Corporation common stockholders :
Income from continuing operations	7	61
Loss from discontinued operations, net of tax	(2)	(7)
Net income	5us-gaap_NetIncomeLoss	54us-gaap_NetIncomeLoss
Dividends per share (in dollars per share)	$ 0.125	$ 0.125
Huntsman International
Revenues:
Trade sales, services and fees, net	2,560	2,693
Related party sales	29	62
Total revenues	2,589	2,755
Cost of goods sold	2,137	2,300
Gross profit	452	455
Operating expenses:
Selling, general and administrative	244	227
Research and development	42	36
Other operating expense (income)	(7)	(4)
Restructuring, impairment and plant closing costs	93	39
Total expenses	372	298
Operating income	80	157
Interest expense	(58)	(51)
Equity in income of investment in unconsolidated affiliates	2	2
Loss on early extinguishment of debt	(3)
Other (loss) income	(1)	1
Income from continuing operations before income taxes	20	109
Income tax expense	(3)	(37)
Income from continuing operations	17	72
Loss from discontinued operations, net of tax	(2)	(7)
Net income	15	65
Net income attributable to noncontrolling interests	(10)	(8)
Net income attributable to Huntsman Corporation or Huntsman International LLC	5	57
Amounts attributable to Huntsman Corporation common stockholders :
Net income	$ 5	$ 57