Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating Activities:    
Net income $ 117 $ 380
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (5) (6)
Depreciation and amortization 297 335
Loss on early extinguishment of debt 31  
Noncash interest expense 9 8
Noncash restructuring and impairment charges 87 36
Deferred income taxes (51) (44)
Noncash loss on foreign currency transactions 12 13
Stock-based compensation 21 22
Other, net 2 (6)
Changes in operating assets and liabilities :    
Accounts and notes receivable (53) (161)
Inventories 46 (112)
Prepaid expenses (13) (32)
Other current assets 50 (74)
Other noncurrent assets (92) (32)
Accounts payable (111) 131
Accrued liabilities 74 (59)
Other noncurrent liabilities (34) (56)
Net cash provided by (used in) operating activities 387 343
Investing Activities:    
Capital expenditures (454) (351)
Cash received from unconsolidated affiliates 33 38
Investment in unconsolidated affiliates (38) (37)
Acquisition of businesses, net of cash acquired (14)  
Cash received from purchase price adjustment for business acquired 18  
Proceeds from sale of businesses/assets 1 15
Cash received from termination of cross-currency interest rate contracts 66  
Change in restricted cash 5  
Other, net   (2)
Net cash (used in) provided by investing activities (383) (337)
Financing Activities:    
Net borrowings under revolving loan facilities   (1)
Net (repayments) borrowings on overdraft facilities (3) 2
Repayments of short-term debt (17) (8)
Borrowings on short-term debt 11 10
Repayments of long-term debt (594) (42)
Proceeds from issuance of long-term debt 326 204
Repayments of notes payable (24) (25)
Borrowings on notes payable 33 32
Debt issuance costs paid (8) (39)
Call premiums related to early extinguishment of debt (34)  
Contingent consideration paid for business acquired (4) (6)
Dividends paid to common stockholders (92) (91)
Dividends paid to noncontrolling interest (6) (4)
Repurchase and cancellation of stock awards (7) (7)
Proceeds from issuance of common stock 1 32
Cash received for a noncontrolling interest of a subsidiary   5
Excess tax benefit related to stock-based compensation 1  
Other, net (1)  
Net cash (used in) provided by financing activities (418) 62
Effect of exchange rate changes on cash (13) (6)
Decrease in cash and cash equivalents (427) 62
Cash and cash equivalents at beginning of period 860 [1] 520
Cash and cash equivalents at end of period 433 [1] 582
Supplemental cash flow information:    
Cash paid for interest 158 145
Cash paid for income taxes 81 156
Huntsman International    
Operating Activities:    
Net income 118 394
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (5) (6)
Depreciation and amortization 287 322
Loss on early extinguishment of debt 31  
Noncash interest expense 15 15
Noncash restructuring and impairment charges 87 36
Deferred income taxes (51) (43)
Noncash loss on foreign currency transactions 12 13
Noncash compensation 20 21
Other, net 3 (6)
Changes in operating assets and liabilities :    
Accounts and notes receivable (53) (161)
Inventories 46 (112)
Prepaid expenses (13) (31)
Other current assets 43 (67)
Other noncurrent assets (92) (33)
Accounts payable (118) 124
Accrued liabilities 80 (78)
Other noncurrent liabilities (27) (50)
Net cash provided by (used in) operating activities 383 338
Investing Activities:    
Capital expenditures (454) (351)
Cash received from unconsolidated affiliates 33 38
Investment in unconsolidated affiliates (38) (37)
Acquisition of businesses, net of cash acquired (14)  
Cash received from purchase price adjustment for business acquired 18  
Proceeds from sale of businesses/assets 1 15
Increase in receivable from affiliate (1) (4)
Cash received from termination of cross-currency interest rate contracts 66  
Change in restricted cash 5  
Other, net   (2)
Net cash (used in) provided by investing activities (384) (341)
Financing Activities:    
Net borrowings under revolving loan facilities   (1)
Net (repayments) borrowings on overdraft facilities (3) 2
Repayments of short-term debt (17) (8)
Borrowings on short-term debt 11 10
Repayments of long-term debt (594) (42)
Proceeds from issuance of long-term debt 326 204
Proceeds from issuance of notes payable from affiliate 195  
Repayments of notes payable to affiliate (50) (65)
Repayments of notes payable (24) (25)
Borrowings on notes payable 33 32
Debt issuance costs paid (8) (39)
Call premiums related to early extinguishment of debt (34)  
Contingent consideration paid for business acquired (4) (6)
Dividends paid to noncontrolling interest (6) (4)
Dividends paid to parent (92) (91)
Cash received for a noncontrolling interest of a subsidiary   5
Excess tax benefit related to stock-based compensation 1  
Other, net   2
Net cash (used in) provided by financing activities (266) (26)
Effect of exchange rate changes on cash (13) (6)
Decrease in cash and cash equivalents (280) (35)
Cash and cash equivalents at beginning of period 710 [1] 515
Cash and cash equivalents at end of period 430 [1] 480
Supplemental cash flow information:    
Cash paid for interest 158 145
Cash paid for income taxes $ 81 $ 156
[1] At September 30, 2015 and December 31, 2014, respectively, $42 and $46 of cash and cash equivalents, $4 and $10 of restricted cash, $35 and $41 of accounts and notes receivable (net), $45 and $68 of inventories, $6 each of other current assets, $313 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $28 and $27 of other noncurrent assets, $72 and $92 of accounts payable, $29 and $37 of accrued liabilities, $19 and $172 of current portion of debt, $139 and $36 of longterm debt, and $99 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 5. Variable Interest Entities.”