Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Operating Activities:

Adjustments to reconcile net income to net cash provided by operating activities:

Equity in income of investment in unconsolidated affiliates

Depreciation and amortization

Provision for losses on accounts receivable

2

4

Loss on disposal of businesses/assets, net

4

5

Loss on early extinguishment of debt

28

51

80

Noncash interest expense

11

11

33

Noncash restructuring and impairment charges

37

13

15

Deferred income taxes

10

Noncash loss on foreign currency transactions

15

31

11

Stock-based compensation

28

29

27

Changes in operating assets and liabilities, net of effects of acquisitions:

Accounts and notes receivable

2

77

Prepaid expenses

Other current assets

23

24

Other noncurrent assets

Accounts payable

86

Accrued liabilities

11

23

Other noncurrent liabilities

53

Net cash provided by operating activities

Investing Activities:

Capital expenditures

Cash received from unconsolidated affiliates

51

71

82

Investment in unconsolidated affiliates

Acquisition of businesses, net of cash acquired

Proceeds from sale of businesses/assets

15

2

6

2

Net cash used in investing activities

Financing Activities:

Net repayments under revolving loan facilities

Net (repayments) borrowings on overdraft facilities

2

Repayments of short-term debt

Borrowings on short-term debt

15

15

Repayments of long-term debt

Proceeds from issuance of long-term debt

Repayments of notes payable

Borrowings on notes payable

33

35

34

Debt issuance costs paid

Call premiums related to early extinguishment of debt

Contingent consideration paid for acquisition

Dividends paid to common stockholders

Repurchase and cancellation of stock awards

Proceeds from issuance of common stock

47

13

3

Excess tax benefit related to stock-based compensation

1

1

4

3

Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash

3

Increase (decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of period

^[1]

Cash and cash equivalents at end of period

^[1]

^[1]

Supplemental cash flow information:

Cash paid for interest

Cash paid for income taxes

78

Huntsman International

Operating Activities:

Adjustments to reconcile net income to net cash provided by operating activities:

Equity in income of investment in unconsolidated affiliates

Depreciation and amortization

Provision for losses on accounts receivable

2

4

Loss on disposal of businesses/assets, net

4

5

Loss on early extinguishment of debt

28

51

80

Noncash interest expense

21

23

45

Noncash restructuring and impairment charges

37

13

15

Deferred income taxes

56

76

Noncash loss on foreign currency transactions

15

31

11

Noncash compensation

27

28

26

Changes in operating assets and liabilities, net of effects of acquisitions:

Accounts and notes receivable

2

77

Prepaid expenses

Other current assets

23

Other noncurrent assets

Accounts payable

76

Accrued liabilities

41

Other noncurrent liabilities

60

Net cash provided by operating activities

Investing Activities:

Capital expenditures

Cash received from unconsolidated affiliates

51

71

82

Investment in unconsolidated affiliates

Acquisition of businesses, net of cash acquired

Proceeds from sale of businesses/assets

15

2

6

Increase in receivable from affiliate

2

Net cash used in investing activities

Financing Activities:

Net repayments under revolving loan facilities

Net (repayments) borrowings on overdraft facilities

2

Repayments of short-term debt

Borrowings on short-term debt

15

15

Repayments of long-term debt

Proceeds from issuance of long-term debt

Repayments of notes payable to affiliate

Proceeds from notes payable to affiliate

Repayments of notes payable

Borrowings on notes payable

33

35

34

Debt issuance costs paid

Call premiums related to early extinguishment of debt

Contingent consideration paid for acquisition

Dividends paid to parent

Excess tax benefit related to stock-based compensation

1

1

4

3

Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash

3

Increase (decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of period

^[1]

Cash and cash equivalents at end of period

^[1]

^[1]

Supplemental cash flow information:

Cash paid for interest

Cash paid for income taxes

[1]

At December 31, 2014 and December 31, 2013, respectively, $46 and $39 of cash and cash equivalents, $10 and $9 of restricted cash, $41 each of accounts and notes receivable (net), $68 and $54 of inventories, $6 and $3 of other current assets, $339 and $369 of property, plant and equipment (net), $40 and $17 of intangible assets (net), $27 and $28 of other noncurrent assets, $92 and $73 of accounts payable, $37 and $32 of accrued liabilities, $172 and $183 of current portion of debt, $36 and $64 of longterm debt, and $97 and $45 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”