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.