Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (UNAUDITED)

v2.4.0.8
CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (UNAUDITED) (HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES)
 9 Months Ended
Sep. 30, 2014
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
  
Condensed consolidated financial information  
CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (UNAUDITED)

19. CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (UNAUDITED)

        The following condensed consolidating financial statements (unaudited) present, in separate columns, financial information for the following: Huntsman International (on a parent only basis), with its investment in subsidiaries recorded under the equity method; the Guarantors on a combined, and where appropriate, consolidated basis; and the nonguarantors on a combined, and where appropriate, consolidated basis. Additional columns present eliminating adjustments and consolidated totals as of September 30, 2014 and December 31, 2013 and for the three and nine months ended September 30, 2014 and 2013. There are no contractual restrictions limiting transfers of cash from the Guarantors to Huntsman International. Each of the Guarantors is 100% owned by Huntsman International and has fully and unconditionally guaranteed, subject to certain customary release provisions, Huntsman International's outstanding notes on a joint and several basis.

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED)
AS OF SEPTEMBER 30, 2014
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

ASSETS

                                

Current assets:

                                

Cash and cash equivalents

   $ 159   $ —   $ 321   $ —   $ 480  

Restricted cash

     —     —     10     —     10  

Accounts and notes receivable, net

     41     125     1,467     6     1,639  

Accounts receivable from affiliates

     1,856     4,494     148     (6,158 )   340  

Inventories

     107     317     1,368     (4 )   1,788  

Prepaid expenses

     46     16     61     (33 )   90  

Deferred income taxes

     12     —     58     (18 )   52  

Other current assets

     642     5     209     (568 )   288  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current assets

     2,863     4,957     3,642     (6,775 )   4,687  

Property, plant and equipment, net

     404     1,010     2,236     1     3,651  

Investment in unconsolidated affiliates

     5,773     1,289     198     (6,968 )   292  

Intangible assets, net

     35     1     36     —     72  

Goodwill

     (16 )   82     60     —     126  

Deferred income taxes

     316     —     212     (311 )   217  

Notes receivable from affiliates

     23     613     —     (636 )   —  

Other noncurrent assets

     102     197     207     (1 )   505  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 9,500   $ 8,149   $ 6,591   $ (14,690 ) $ 9,550  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

LIABILITIES AND EQUITY

                                

Current liabilities:

                                

Accounts payable

   $ 47   $ 258   $ 821   $ 7   $ 1,133  

Accounts payable to affiliates

     3,351     739     2,127     (6,159 )   58  

Accrued liabilities

     104     655     470     (602 )   627  

Deferred income taxes

     —     57     8     (22 )   43  

Note payable to affiliate

     100     —     —     —     100  

Current portion of debt

     37     —     237     —     274  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current liabilities

     3,639     1,709     3,663     (6,776 )   2,235  

Long-term debt

     3,434     —     318     —     3,752  

Notes payable to affiliates

     707     —     642     (636 )   713  

Deferred income taxes

     26     214     (1 )   47     286  

Other noncurrent liabilities

     124     141     567     —     832  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

     7,930     2,064     5,189     (7,365 )   7,818  

Equity

                                

Huntsman International LLC members' equity

                                

Members' equity

     3,159     4,348     2,408     (6,756 )   3,159  

Accumulated (deficit) income

     (910 )   389     (448 )   59     (910 )

Accumulated other comprehensive (loss) income

     (679 )   1,348     (715 )   (633 )   (679 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Huntsman
International LLC members' equity

     1,570     6,085     1,245     (7,330 )   1,570  

Noncontrolling interests in subsidiaries

     —     —     157     5     162  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total equity

     1,570     6,085     1,402     (7,325 )   1,732  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and equity

   $ 9,500   $ 8,149   $ 6,591   $ (14,690 ) $ 9,550  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2013
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

ASSETS

                                

Current assets:

                                

Cash and cash equivalents

   $ 308   $ —   $ 207   $ —   $ 515  

Restricted cash

     —     —     9     —     9  

Accounts and notes receivable, net

     28     130     1,384     —     1,542  

Accounts receivable from affiliates

     2,386     4,823     140     (7,024 )   325  

Inventories

     112     297     1,339     (7 )   1,741  

Prepaid expenses

     70     64     47     (120 )   61  

Deferred income taxes

     12     —     59     (18 )   53  

Other current assets

     379     4     199     (382 )   200  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current assets

     3,295     5,318     3,384     (7,551 )   4,446  

Property, plant and equipment, net

     390     954     2,414     1     3,759  

Investment in unconsolidated affiliates

     5,393     1,178     178     (6,464 )   285  

Intangible assets, net

     48     1     39     —     88  

Goodwill

     (17 )   82     66     —     131  

Deferred income taxes

     323     —     239     (319 )   243  

Notes receivable from affiliates

     22     658     1     (680 )   1  

Other noncurrent assets

     67     172     220     (1 )   458  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 9,521   $ 8,363   $ 6,541   $ (15,014 ) $ 9,411  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

LIABILITIES AND EQUITY

                                

Current liabilities:

                                

Accounts payable

   $ 50   $ 267   $ 750   $ —   $ 1,067  

Accounts payable to affiliates

     3,655     1,476     1,946     (7,024 )   53  

Accrued liabilities

     138     517     590     (503 )   742  

Deferred income taxes

     —     57     8     (21 )   44  

Note payable to affiliate

     100     —     —     —     100  

Current portion of debt

     28     —     249     —     277  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current liabilities

     3,971     2,317     3,543     (7,548 )   2,283  

Long-term debt

     3,290     —     343     —     3,633  

Notes payable to affiliates

     772     —     687     (680 )   779  

Deferred income taxes

     25     200     39     39     303  

Other noncurrent liabilities

     137     140     661     —     938  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

     8,195     2,657     5,273     (8,189 )   7,936  

Equity

                                

Huntsman International LLC members' equity

                                

Members' equity

     3,138     4,354     2,215     (6,569 )   3,138  

Accumulated (deficit) income

     (1,194 )   66     (450 )   384     (1,194 )

Accumulated other comprehensive (loss) income

     (618 )   1,286     (645 )   (641 )   (618 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Huntsman
International LLC members' equity

     1,326     5,706     1,120     (6,826 )   1,326  

Noncontrolling interests in subsidiaries

     —     —     148     1     149  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total equity

     1,326     5,706     1,268     (6,825 )   1,475  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and equity

   $ 9,521   $ 8,363   $ 6,541   $ (15,014 ) $ 9,411  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS) (UNAUDITED)
THREE MONTHS ENDED SEPTEMBER 30, 2014
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

Revenues:

                                

Trade sales, services and fees, net

   $ 336   $ 772   $ 1,711   $ —   $ 2,819  

Related party sales

     66     123     341     (465 )   65  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     402     895     2,052     (465 )   2,884  

Cost of goods sold

     323     700     1,813     (468 )   2,368  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross profit

     79     195     239     3     516  

Selling, general and administrative

     43     32     151     —     226  

Research and development

     12     11     17     —     40  

Other operating (income) expense

     (3 )   1     9     —     7  

Restructuring, impairment and plant closing costs

     3     3     33     —     39  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating income

     24     148     29     3     204  

Interest (expense) income

     (49 )   9     (12 )   —     (52 )

Equity in income of investment in affiliates and subsidiaries

     107     —     2     (107 )   2  

Other income

     —     —     —     (1 )   (1 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations before income taxes

     82     157     19     (105 )   153  

Income tax benefit (expense)

     116     (54 )   (11 )   —     51  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations

     198     103     8     (105 )   204  

Loss from discontinued operations, net of tax

     —     —     —     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income

     198     103     8     (105 )   204  

Net income attributable to noncontrolling interests

     —     —     (5 )   (1 )   (6 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income attributable to Huntsman International LLC

   $ 198   $ 103   $ 3   $ (106 ) $ 198  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Net income

   $ 198   $ 103   $ 8   $ (105 ) $ 204  

Other comprehensive loss

     (84 )   (91 )   (96 )   182     (89 )

Comprehensive income attributable to noncontrolling interests

     —     —     (1 )   (1 )   (2 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to Huntsman International LLC

   $ 114   $ 12   $ (89 ) $ 76   $ 113  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (UNAUDITED)
THREE MONTHS ENDED SEPTEMBER 30, 2013
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

Revenues:

                                

Trade sales, services and fees, net

   $ 283   $ 830   $ 1,676   $ —   $ 2,789  

Related party sales

     207     118     308     (580 )   53  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     490     948     1,984     (580 )   2,842  

Cost of goods sold

     415     723     1,771     (578 )   2,331  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross profit

     75     225     213     (2 )   511  

Selling, general and administrative

     37     38     161     —     236  

Research and development

     12     9     14     —     35  

Other operating (income) expense

     (8 )   (7 )   14     —     (1 )

Restructuring, impairment and plant closing costs

     2     3     32     —     37  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating income (loss)

     32     182     (8 )   (2 )   204  

Interest (expense) income

     (45 )   11     (17 )   —     (51 )

Equity in (loss) income of investment in affiliates and subsidiaries

     (3 )   (23 )   2     27     3  

Other income

     1     —     1     (2 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

(Loss) income from continuing operations before income taxes

     (15 )   170     (22 )   23     156  

Income tax benefit (expense)

     83     (168 )   5     —     (80 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from continuing operations

     68     2     (17 )   23     76  

Income (loss) from discontinued operations, net of tax

     —     1     (3 )   —     (2 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss)

     68     3     (20 )   23     74  

Net income attributable to noncontrolling interests

     —     —     (6 )   —     (6 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss) attributable to Huntsman International LLC

   $ 68   $ 3   $ (26 ) $ 23   $ 68  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Net income (loss)

   $ 68   $ 3   $ (20 ) $ 23   $ 74  

Other comprehensive income

     72     288     52     (338 )   74  

Comprehensive income attributable to noncontrolling interests

     —     —     (8 )   —     (8 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income attributable to Huntsman International LLC

   $ 140   $ 291   $ 24   $ (315 ) $ 140  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, 2014
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

Revenues:

                                

Trade sales, services and fees, net

   $ 907   $ 2,388   $ 5,138   $ —   $ 8,433  

Related party sales

     242     380     1,053     (1,481 )   194  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     1,149     2,768     6,191     (1,481 )   8,627  

Cost of goods sold

     944     2,174     5,517     (1,485 )   7,150  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross profit

     205     594     674     4     1,477  

Selling, general and administrative

     126     110     460     —     696  

Research and development

     36     30     47     —     113  

Other operating (income) expense

     (13 )   (6 )   17     —     (2 )

Restructuring, impairment and plant closing costs

     5     5     81     —     91  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating income

     51     455     69     4     579  

Interest (expense) income

     (142 )   27     (40 )   —     (155 )

Equity in income of investment in affiliates and subsidiaries

     323     2     6     (325 )   6  

Other income

     2     —     —     (2 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations before income taxes

     234     484     35     (323 )   430  

Income tax benefit (expense)

     139     (160 )   (8 )   —     (29 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations

     373     324     27     (323 )   401  

Income (loss) from discontinued operations, net of tax

     2     —     (9 )   —     (7 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income

     375     324     18     (323 )   394  

Net income attributable to noncontrolling interests

     —     —     (15 )   (4 )   (19 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income attributable to Huntsman International LLC

   $ 375   $ 324   $ 3   $ (327 ) $ 375  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Net income

   $ 375   $ 324   $ 18   $ (323 ) $ 394  

Other comprehensive (loss) income

     (61 )   62     (77 )   8     (68 )

Comprehensive income attributable to noncontrolling interests

     —     —     (8 )   (4 )   (12 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to Huntsman International LLC

   $ 314   $ 386   $ (67 ) $ (319 ) $ 314  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, 2013
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

Revenues:

                                

Trade sales, services and fees, net

   $ 798   $ 2,434   $ 4,966   $ —   $ 8,198  

Related party sales

     592     357     943     (1,716 )   176  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     1,390     2,791     5,909     (1,716 )   8,374  

Cost of goods sold

     1,208     2,206     5,353     (1,713 )   7,054  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross profit

     182     585     556     (3 )   1,320  

Selling, general and administrative

     112     111     469     —     692  

Research and development

     38     28     39     —     105  

Other operating (income) expense

     —     (3 )   9     —     6  

Restructuring, impairment and plant closing costs

     9     14     87     —     110  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating income (loss)

     23     435     (48 )   (3 )   407  

Interest (expense) income

     (139 )   32     (49 )   —     (156 )

Equity in income (loss) of investment in affiliates and subsidiaries

     204     (110 )   5     (93 )   6  

Loss on early extinguishment of debt

     (35 )   —     —     —     (35 )

Other income

     2     —     2     (2 )   2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from continuing operations before income taxes

     55     357     (90 )   (98 )   224  

Income tax benefit (expense)

     39     (149 )   4     —     (106 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from continuing operations

     94     208     (86 )   (98 )   118  

Income (loss) from discontinued operations, net of tax

     —     1     (5 )   —     (4 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss)

     94     209     (91 )   (98 )   114  

Net income attributable to noncontrolling interests

     —     —     (20 )   —     (20 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss) attributable to Huntsman International LLC

   $ 94   $ 209   $ (111 ) $ (98 ) $ 94  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Net income (loss)

   $ 94   $ 209   $ (91 ) $ (98 ) $ 114  

Other comprehensive income

     33     109     9     (119 )   32  

Comprehensive income attributable to noncontrolling interests

     —     —     (19 )   —     (19 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to Huntsman International LLC

   $ 127   $ 318   $ (101 ) $ (217 ) $ 127  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, 2014
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

Net cash (used in) provided by operating activities

   $ (50 ) $ 135   $ 254   $ (1 ) $ 338  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Investing activities:

                                

Capital expenditures

     (50 )   (122 )   (179 )   —     (351 )

Cash received from unconsolidated affiliates

     —     38     —     —     38  

Investment in affiliate

     (45 )   (10 )   —     55     —  

Investment in unconsolidated affiliates

     —     (25 )   (12 )   —     (37 )

Proceeds from sale of businesses/assets

     3     —     12     —     15  

Increase in receivable from affiliate

     (4 )   —     —     —     (4 )

Other, net

     —     —     (2 )   —     (2 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in investing activities

     (96 )   (119 )   (181 )   55     (341 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Financing activities:

                                

Net repayments under revolving loan facilities

     —     —     (1 )   —     (1 )

Net borrowings on overdraft facilities

     —     —     2     —     2  

Repayments of short-term debt

     —     —     (8 )   —     (8 )

Borrowings on short-term debt

     —     —     10     —     10  

Repayments of long-term debt

     (13 )   —     (29 )   —     (42 )

Proceeds from issuance of long-term debt

     204     —     —     —     204  

Repayments of notes payable to affiliate

     (65 )   —     —     —     (65 )

Repayments of notes payable

     (24 )   —     (1 )   —     (25 )

Borrowings on notes payable

     31     —     1     —     32  

Debt issuance costs paid

     (39 )   —     —     —     (39 )

Contingent consideration paid for acquisition

     (6 )   —     —     —     (6 )

Contribution from parent

     —     10     70     (80 )   —  

Distribution to parent

     —     (25 )   —     25     —  

Dividends paid to parent

     (91 )   (1 )   —     1     (91 )

Cash received for a noncontrolling interest of a subsidiary

     —     —     5     —     5  

Other, net

     —     —     (2 )   —     (2 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash (used in) provided by financing activities

     (3 )   (16 )   47     (54 )   (26 )

Effect of exchange rate changes on cash

     —     —     (6 )   —     (6 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

(Decrease) increase in cash and cash equivalents

     (149 )   —     114     —     (35 )

Cash and cash equivalents at beginning of period

     308     —     207     —     515  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents at end of period

   $ 159   $ —   $ 321   $ —   $ 480  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

        During the third quarter of 2014, we capitalized $116 million of intercompany notes as a noncash transaction between guarantor and nonguarantor entities.

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, 2013
(In Millions)

 
   Parent
Company		   Guarantors   Nonguarantors   Eliminations   Consolidated
Huntsman
International
LLC		  

Net cash (used in) provided by operating activities

   $ (13 ) $ 108   $ 288   $ (1 ) $ 382  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Investing activities:

                                

Capital expenditures

     (35 )   (76 )   (184 )   —     (295 )

Cash received from unconsolidated affiliates

     —     48     —     —     48  

Investment in affiliate

     (23 )   (8 )   —     31     —  

Investment in unconsolidated affiliates

     —     (44 )   (32 )   —     (76 )

Acquisition of a business, net of cash acquired

     (66 )   —     —     —     (66 )

Proceeds from sale of businesses/assets

     —     (3 )   2     —     (1 )

Increase in receivable from affiliate

     (16 )   —     —     —     (16 )

Other, net

     —     —     2     —     2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in investing activities

     (140 )   (83 )   (212 )   31     (404 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Financing activities:

                                

Net repayments under revolving loan facilities

     —     —     (3 )   —     (3 )

Net repayments on overdraft facilities

     —     —     (2 )   —     (2 )

Repayments of short-term debt

     —     —     (18 )   —     (18 )

Borrowings on short-term debt

     —     —     14     —     14  

Repayments of long-term debt

     (393 )   —     (66 )   —     (459 )

Proceeds from issuance of long-term debt

     570     —     2     —     572  

Proceeds from notes payable to affiliate

     177     —     —     —     177  

Repayments of notes payable

     (24 )   —     (6 )   —     (30 )

Borrowings on notes payable

     33     —     1     —     34  

Debt issuance costs paid

     (4 )   —     —     —     (4 )

Call premiums and other costs related to early extinguishment of debt

     (4 )   —     —     —     (4 )

Contribution from parent

     —     8     57     (65 )   —  

Distribution to parent

     —     (34 )   —     34     —  

Dividends paid to parent

     (90 )   (1 )   —     1     (90 )

Excess tax benefit related to stock-based compensation

     4     —     —     —     4  

Other, net

     1     —     —     —     1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used in) financing activities

     270     (27 )   (21 )   (30 )   192  

Effect of exchange rate changes on cash

     —     —     (2 )   —     (2 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Increase (decrease) in cash and cash equivalents

     117     (2 )   53     —     168  

Cash and cash equivalents at beginning of period

     7     2     201     —     210  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents at end of period

   $ 124   $ —   $ 254   $ —   $ 378  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​