Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

v2.4.0.8
OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Jun. 30, 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):

 

 
   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 income before reclassifications

     —     —     —     —     —     3     3  

Amounts reclassified from accumulated other comprehensive loss(c)

     —     17     —     1     18     —     18  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive income

     —     17     —     1     18     3     21  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, June 30, 2014

   $ 246   $ (834 ) $ 12   $ 9   $ (567 ) $ 11   $ (556 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $15 and $13 as of June 30, 2014 and January 1, 2014, respectively.

(b)
Amounts are net of tax of $77 and $83 as of June 30, 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            

     (97 )   22     —     2     (73 )   3     (70 )

Amounts reclassified from accumulated other comprehensive loss(c)

     —     28     —     —     28     —     28  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive income

     (97 )   50     —     2     (45 )   3     (42 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, June, 30 2013

   $ 172   $ (986 ) $ 7   $ 5   $ (802 ) $ 16   $ (786 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $21 and $20 as of June 30, 2013 and January 1, 2013, respectively.

(b)
Amounts are net of tax of $182 and $197 as of June 30, 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 June 30, 2014		   Six months
ended June 30, 2014		    
 
   Affected line item in
the statement where
net income is
presented
Details about Accumulated Other
Comprehensive Loss Components:
  Amounts reclassified
from accumulated other
comprehensive loss		   Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

                

Prior service credit

   $ (3 ) $ (5 ) (a)(b)

Actuarial loss

     14     27   (a)(b)(c)

Settlement loss

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

 

     11     23   Total before tax

 

     (3 )   (6 ) Income tax expense
             
​ ​ ​ ​ ​ ​ ​ ​ ​

Total reclassifications for the period

   $ 8   $ 17   Net of tax
             
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
             


 

 
   Three months
ended June 30, 2013		   Six months
ended June 30, 2013		    
 
   Affected line item in
the statement where
net income is
presented
Details about Accumulated Other
Comprehensive Loss Components:
  Amounts reclassified
from accumulated other
comprehensive loss		   Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

                

Prior service credit

   $ (2 ) $ (4 ) (a)(b)

Actuarial loss

     21     41   (a)(b)(c)
             
​ ​ ​ ​ ​ ​ ​ ​ ​

 

     19     37   Total before tax

 

     (5 )   (9 ) Income tax expense
             
​ ​ ​ ​ ​ ​ ​ ​ ​

Total reclassifications for the period

   $ 14   $ 28   Net of tax
             
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
             
(a)
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 and $3 million of actuarial losses related to discontinued operations for each of the three months ended June 30, 2014 and 2013, respectively, and $2 and $4 million for the six months ended June 30, 2014 and 2013, respectively.
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 income before reclassifications

     —     —     —     —     —     3     3  

Amounts reclassified from accumulated other comprehensive loss(c)

     —     20     —     1     21     —     21  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive income

     —     20     —     1     21     3     24  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, June 30, 2014

   $ 243   $ (863 ) $ 12   $ 3   $ (605 ) $ 11   $ (594 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $2 and nil as of June 30, 2014 and January 1, 2014, respectively.

(b)
Amounts are net of tax of $106 and $113 as of June 30, 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 income before reclassifications

     (97 )   22     —     3     (72 )   3     (69 )

Amounts reclassified from accumulated other comprehensive loss(c)

     —     30     —     —     30     —     30  
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net current-period other comprehensive (loss) income

     (97 )   52     —     3     (42 )   3     (39 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance, June 30, 2013

   $ 171   $ (1,024 ) $ 7   $ —   $ (846 ) $ 16   $ (830 )
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               
(a)
Amounts are net of tax of $8 and $7 as of June 30, 2013 and January 1, 2013, respectively.

(b)
Amounts are net of tax of $213 and $228 as of June 30, 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 June 30, 2014		   Six months
ended June 30, 2014		    
 
   Affected line item in
the statement where
net income is
presented
Details about Accumulated Other
Comprehensive Loss Components:
  Amounts reclassified
from accumulated other
comprehensive loss		   Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

                

Prior service credit

   $ (3 ) $ (5 ) (a)(b)

Actuarial loss

     16     31   (a)(b)(c)

Settlement loss

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

 

     13     27   Total before tax

 

     (3 )   (7 ) Income tax expense
             
​ ​ ​ ​ ​ ​ ​ ​ ​

Total reclassifications for the period

   $ 10   $ 20   Net of tax
             
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
             


 

 
   Three months ended
June 30, 2013		   Six months ended
June 30, 2013		    
 
   Affected line item in
the statement where
net income is
presented
Details about Accumulated Other Comprehensive Loss Components:
  Amounts reclassified
from accumulated other
comprehensive loss		   Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

                

Prior service credit

   $ (2 ) $ (4 ) (a)(b)

Actuarial loss

     22     43   (a)(b)(c)
             
​ ​ ​ ​ ​ ​ ​ ​ ​

 

     20     39   Total before tax

 

     (4 )   (9 ) Income tax expense
             
​ ​ ​ ​ ​ ​ ​ ​ ​

Total reclassifications for the period

   $ 16   $ 30   Net of tax
             
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
             
(a)
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 and $3 million of actuarial losses related to discontinued operations for each of the three months ended June 30, 2014 and 2013, respectively, and $2 and $4 million for the six months ended June 30, 2014 and 2013, respectively.