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

Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE (Details)

FAIR VALUE (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Carrying Amount
Fair values of financial instruments
Non-qualified employee benefit plan investments	$ 25	$ 22
Long-term debt (including current portion)	(5,358)	(5,200)
Carrying Amount \| Cross currency interest rate contracts
Fair values of financial instruments
Derivative contracts - assets	33	48
Carrying Amount \| Interest rate contracts
Fair values of financial instruments
Derivative contracts - liabilities	(7)	(7)
Estimated Fair Value
Fair values of financial instruments
Non-qualified employee benefit plan investments	25	22
Long-term debt (including current portion)	(5,412)	(5,210)
Estimated Fair Value \| Cross currency interest rate contracts
Fair values of financial instruments
Derivative contracts - assets	33	48
Estimated Fair Value \| Interest rate contracts
Fair values of financial instruments
Derivative contracts - liabilities	$ (7)	$ (7)

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References + Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References + Details