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

Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Operating Activities:

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Equity in income of investment in unconsolidated affiliates

Depreciation and amortization

95

Loss on early extinguishment of debt

3

Noncash interest expense (income)

4

1

Noncash restructuring and impairment charges

29

6

Deferred income taxes

Noncash (gain) loss on foreign currency transactions

3

Stock-based compensation

9

8

1

Changes in operating assets and liabilities, net of effects of acquisitions:

Accounts and notes receivable

54

Prepaid expenses

3

9

Other current assets

25

Other noncurrent assets

Accounts payable

Accrued liabilities

Other noncurrent liabilities

Net cash provided by (used in) by operating activities

34

Investing Activities:

Capital expenditures

Cash received from unconsolidated affiliates

15

15

Investment in unconsolidated affiliates

Cash received from termination of cross-current interest rate contracts

66

Net cash used in investing activities

Financing Activities:

Net borrowings under revolving loan facilities

2

Net (repayments) borrowings on overdraft facilities

4

Repayments of short-term debt

Borrowings on short-term debt

1

Repayments of long-term debt

Proceeds from issuance of long-term debt

Repayments of notes payable

Borrowings on notes payable

1

Debt issuance costs paid

Contingent consideration paid for acquisition

Call premiums related to early extinguishment of debt

Dividends paid to common stockholders

Repurchase and cancellation of stock awards

Proceeds from issuance of common stock

4

Excess tax (expense) benefit related to stock-based compensation

1

1

Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash

Increase (decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of period

^[1]

Cash and cash equivalents at end of period

^[1]

Supplemental cash flow information:

Cash paid for interest

48

54

Cash paid for income taxes

11

46

Huntsman International

Operating Activities:

15

65

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Equity in income of investment in unconsolidated affiliates

Depreciation and amortization

92

Loss on early extinguishment of debt

3

Noncash interest expense (income)

6

3

Noncash restructuring and impairment charges

29

6

Deferred income taxes

Noncash (gain) loss on foreign currency transactions

3

Noncash compensation

8

7

3

1

Changes in operating assets and liabilities, net of effects of acquisitions:

Accounts and notes receivable

54

Prepaid expenses

4

11

Other current assets

25

Other noncurrent assets

Accounts payable

Accrued liabilities

Other noncurrent liabilities

Net cash provided by (used in) by operating activities

35

Investing Activities:

Capital expenditures

Cash received from unconsolidated affiliates

15

15

Investment in unconsolidated affiliates

Increase in receivable from affiliate

Cash received from termination of cross-current interest rate contracts

66

Net cash used in investing activities

Financing Activities:

Net borrowings under revolving loan facilities

2

Net (repayments) borrowings on overdraft facilities

4

Repayments of short-term debt

Borrowings on short-term debt

1

Repayments of long-term debt

Proceeds from issuance of long-term debt

Repayments of notes payable to affiliate

Repayments of notes payable

Borrowings on notes payable

1

Debt issuance costs paid

Contingent consideration paid for acquisition

Call premiums related to early extinguishment of debt

Dividends paid to parent

Excess tax (expense) benefit related to stock-based compensation

1

1

Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash

Increase (decrease) in cash and cash equivalents

86

Cash and cash equivalents at beginning of period

^[1]

Cash and cash equivalents at end of period

^[1]

Supplemental cash flow information:

Cash paid for interest

48

54

Cash paid for income taxes

[1]

At March 31, 2015 and December 31, 2014, respectively, $54 and $46 of cash and cash equivalents, $9 and $10 of restricted cash, $41 each of accounts and notes receivable (net), $41 and $68 of inventories, $5 and $6 of other current assets, $326 and $339 of property, plant and equipment (net), $38 and $40 of intangible assets (net), $27 each of other noncurrent assets, $88 and $92 of accounts payable, $33 and $37 of accrued liabilities, $168 and $172 of current portion of debt, $30 and $36 of longterm debt, and $95 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 5. Variable Interest Entities.”