Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Trade sales, services and fees, net $ 2,605 $ 2,819 $ 7,862 $ 8,433
Related party sales 33 65 105 194
Total revenues 2,638 2,884 7,967 8,627
Cost of goods sold 2,165 2,369 6,495 7,157
Gross profit 473 515 1,472 1,470
Operating expenses:        
Selling, general and administrative 232 227 727 700
Research and development 41 40 124 113
Other operating expense (income) 17 7 8 (2)
Restructuring, impairment and plant closing costs 14 39 221 91
Total expenses 304 313 1,080 902
Operating income (loss) 169 202 392 568
Interest expense (49) (49) (158) (148)
Equity in income of investment in unconsolidated affiliates   2 5 6
Loss on early extinguishment of debt (8)   (31)  
Other expense   (1) (2)  
Income from continuing operations before income taxes 112 154 206 426
Income tax (expense) benefit (49) 40 (85) (39)
Income from continuing operations 63 194 121 387
Loss from discontinued operations, net of tax     (4) (7)
Net income 63 194 117 380
Net income attributable to noncontrolling interests (8) (6) (28) (19)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC $ 55 $ 188 $ 89 $ 361
Basic income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.23 $ 0.77 $ 0.38 $ 1.52
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     (0.02) (0.03)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.23 $ 0.77 $ 0.36 $ 1.49
Weighted average shares (in shares) 244.2 242.6 244.1 241.8
Diluted income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.22 $ 0.76 $ 0.38 $ 1.50
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     (0.02) (0.03)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.22 $ 0.76 $ 0.36 $ 1.47
Weighted average shares (in shares) 246.6 246.7 247.0 245.7
Amounts attributable to Huntsman Corporation common stockholders:        
Income from continuing operations $ 55 $ 188 $ 93 $ 368
Loss from discontinued operations, net of tax     (4) (7)
Net income $ 55 $ 188 $ 89 $ 361
Dividends per share (in dollars per share) $ 0.125 $ 0.125 $ 0.375 $ 0.375
Huntsman International        
Revenues:        
Trade sales, services and fees, net $ 2,605 $ 2,819 $ 7,862 $ 8,433
Related party sales 33 65 105 194
Total revenues 2,638 2,884 7,967 8,627
Cost of goods sold 2,164 2,368 6,492 7,150
Gross profit 474 516 1,475 1,477
Operating expenses:        
Selling, general and administrative 231 226 723 696
Research and development 41 40 124 113
Other operating expense (income) 17 7 8 (2)
Restructuring, impairment and plant closing costs 14 39 221 91
Total expenses 303 312 1,076 898
Operating income (loss) 171 204 399 579
Interest expense (51) (52) (165) (155)
Equity in income of investment in unconsolidated affiliates   2 5 6
Loss on early extinguishment of debt (8)   (31)  
Other expense   (1) (1)  
Income from continuing operations before income taxes 112 153 207 430
Income tax (expense) benefit (48) 51 (85) (29)
Income from continuing operations 64 204 122 401
Loss from discontinued operations, net of tax     (4) (7)
Net income 64 204 118 394
Net income attributable to noncontrolling interests (8) (6) (28) (19)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC 56 198 90 375
Amounts attributable to Huntsman Corporation common stockholders:        
Net income $ 56 $ 198 $ 90 $ 375