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

Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component

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, 2015	$	25		$	(1,122	)	$	10	$	11	$	(1,076	)	$	23	$	(1,053	)

Other comprehensive (loss) income before reclassifications		(142	)		(5	)		9		—		(138	)		5		(133	)
Amounts reclassified from accumulated other comprehensive loss(c)		—			27			—		—		27			—		27

Net current-period other comprehensive (loss) income		(142	)		22			9		—		(111	)		5		(106	)

Ending balance, June 30, 2015	$	(117	)	$	(1,100	)	$	19	$	11	$	(1,187	)	$	28	$	(1,159	)


(a)	Amounts are net of tax of $66 and $47 as of June 30, 2015 and January 1, 2015, respectively.
(b)	Amounts are net of tax of $175 and $182 as of June 30, 2015 and January 1, 2015, 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, 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 (loss) 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.

Schedule of details about reclassifications from accumulated other comprehensive loss

	Three months ended June 30, 2015			Six months ended June 30, 2015
Details about Accumulated Other Comprehensive Loss Components(a):	Amounts reclassified from accumulated other comprehensive loss			Amounts reclassified from accumulated other comprehensive loss			Affected line item in the statement where net income is presented
Amortization of pension and other postretirement benefits:
Prior service credit	$	(2	)	$	(4	)	(b)
Actuarial loss		20			39		(b)(c)

		18			35		Total before tax
		(4	)		(8	)	Income tax expense

Total reclassifications for the period	$	14		$	27		Net of tax

	Three months ended June 30, 2014			Six months ended June 30, 2014
Details about Accumulated Other Comprehensive Loss Components(a):	Amounts reclassified from accumulated other comprehensive loss			Amounts reclassified from accumulated other comprehensive loss			Affected line item in the statement where net income is presented
Amortization of pension and other postretirement benefits:
Prior service credit	$	(3	)	$	(5	)	(b)
Actuarial loss		14			27		(b)(c)
Settlement loss		—			1		(b)

		11			23		Total before tax
		(3	)		(6	)	Income tax expense

Total reclassifications for the period	$	8		$	17		Net of tax


(a)	Pension and other postretirement benefits 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 of actuarial losses related to discontinued operations for each of the three months ended June 30, 2015 and 2014 and $2 of actuarial losses related to discontinued operations for each of the six months ended June 30, 2015 and 2014.

Huntsman International

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component

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 International
Beginning balance, January 1, 2015	$	22		$	(1,147	)	$	10	$	5	$	(1,110	)	$	23	$	(1,087	)

Other comprehensive (loss) income before reclassifications		(143	)		(5	)		9		—		(139	)		5		(134	)
Amounts reclassified from accumulated other comprehensive loss(c)		—			31			—		—		31			—		31

Net current-period other comprehensive (loss) income		(143	)		26			9		—		(108	)		5		(103	)

Ending balance, June 30, 2015	$	(121	)	$	(1,121	)	$	19	$	5	$	(1,218	)	$	28	$	(1,190	)


(a)	Amounts are net of tax of $53 and $34 as of June 30, 2015 and January 1, 2015, respectively.
(b)	Amounts are net of tax of $204 and $211 as of June 30, 2015 and January 1, 2015, 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 (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 (loss) income before reclassifications		—		—			—		—		—			3		3
Amounts reclassified from accumulated other comprehensive loss(c)		—		20			—		1		21			—		21

Net current-period other comprehensive (loss) 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.

Schedule of details about reclassifications from accumulated other comprehensive loss

	Three months ended June 30, 2015			Six months ended June 30, 2015
Details about Accumulated Other Comprehensive Loss Components(a):	Amounts reclassified from accumulated other comprehensive loss			Amounts reclassified from accumulated other comprehensive loss			Affected line item in the statement where net income is presented
Amortization of pension and other postretirement benefits:
Prior service credit	$	(2	)	$	(4	)	(b)
Actuarial loss		22			43		(b)(c)

		20			39		Total before tax
		(4	)		(8	)	Income tax expense

Total reclassifications for the period	$	16		$	31		Net of tax

	Three months ended June 30, 2014			Six months ended June 30, 2014
Details about Accumulated Other Comprehensive Loss Components(a):	Amounts reclassified from accumulated other comprehensive loss			Amounts reclassified from accumulated other comprehensive loss			Affected line item in the statement where net income is presented
Amortization of pension and other postretirement benefits:
Prior service credit	$	(3	)	$	(5	)	(b)
Actuarial loss		16			31		(b)(c)
Settlement loss		—			1		(b)

		13			27		Total before tax
		(3	)		(7	)	Income tax expense

Total reclassifications for the period	$	10		$	20		Net of tax


(a)	Pension and other postretirement benefits 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 of actuarial losses related to discontinued operations for each of the three months ended June 30, 2015 and 2014 and $2 of actuarial losses related to discontinued operations for each of the six months ended June 30, 2015 and 2014.