Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE (LOSS) INCOME (Tables)

v3.3.0.814
OTHER COMPREHENSIVE (LOSS) INCOME (Tables)
9 Months Ended
Sep. 30, 2015
Components of other comprehensive income (loss)  
Schedule of other comprehensive (loss) income and changes in accumulated other comprehensive loss by component

        The components of other comprehensive (loss) income 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            

 

 

(238

)

 

(5

)

 

(1

)

 

4

 

 

(240

)

 

7

 

 

(233

)

Amounts reclassified from accumulated other comprehensive loss(c)

 

 

 

 

41

 

 

 

 

 

 

41

 

 

 

 

41

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(238

)

 

36

 

 

(1

)

 

4

 

 

(199

)

 

7

 

 

(192

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2015

 

$

(213

)

$

(1,086

)

$

9

 

$

15

 

$

(1,275

)

$

30

 

$

(1,245

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $66 and $47 as of September 30, 2015 and January 1, 2015, respectively.

(b)          

Amounts are net of tax of $171 and $182 as of September 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

 

 

(108

)

 

 

 

 

 

2

 

 

(106

)

 

7

 

 

(99

)

Amounts reclassified from accumulated other comprehensive loss(c)

 

 

 

 

33

 

 

 

 

 

 

33

 

 

 

 

33

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(108

)

 

33

 

 

 

 

2

 

 

(73

)

 

7

 

 

(66

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2014

 

$

138

 

$

(818

)

$

12

 

$

10

 

$

(658

)

$

15

 

$

(643

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $32 and $13 as of September 30, 2014 and January 1, 2014, respectively.

(b)          

Amounts are net of tax of $72 and $83 as of September 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
September 30, 2015

 

Nine months
ended
September 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

 

$

(3

)

$

(7

)

(b)

Actuarial loss

 

 

20

 

 

59

 

(b)(c)

​  

​  

​  

​  

 

 

 

17

 

 

52

 

Total before tax

 

 

 

(3

)

 

(11

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

14

 

$

41

 

Net of tax

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Three months
ended
September 30, 2014

 

Nine months
ended
September 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

 

$

(2

)

$

(7

)

(b)

Actuarial loss

 

 

13

 

 

40

 

(b)(c)

Settlement loss

 

 

10

 

 

11

 

(b)

​  

​  

​  

​  

 

 

 

21

 

 

44

 

Total before tax

 

 

 

(5

)

 

(11

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

16

 

$

33

 

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 $2 and $1 of actuarial losses related to discontinued operations for the three months ended September 30, 2015 and 2014, respectively, and $4 and $3 of actuarial losses related to discontinued operations for the nine months ended September 30, 2015 and 2014, respectively.

 

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

        The components of other comprehensive (loss) income 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            

 

 

(238

)

 

(5

)

 

(1

)

 

4

 

 

(240

)

 

7

 

 

(233

)

Amounts reclassified from accumulated other comprehensive loss(c)

 

 

 

 

46

 

 

 

 

 

 

46

 

 

 

 

46

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(238

)

 

41

 

 

(1

)

 

4

 

 

(194

)

 

7

 

 

(187

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2015

 

$

(216

)

$

(1,106

)

$

9

 

$

9

 

$

(1,304

)

$

30

 

$

(1,274

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $53 and $34 as of September 30, 2015 and January 1, 2015, respectively.

(b)          

Amounts are net of tax of $200 and $211 as of September 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                  

 

 

(108

)

 

 

 

 

 

2

 

 

(106

)

 

7

 

 

(99

)

Amounts reclassified from accumulated other comprehensive loss(c)

 

 

 

 

38

 

 

 

 

 

 

38

 

 

 

 

38

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(108

)

 

38

 

 

 

 

2

 

 

(68

)

 

7

 

 

(61

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2014

 

$

135

 

$

(845

)

$

12

 

$

4

 

$

(694

)

$

15

 

$

(679

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $19 and nil as of September 30, 2014 and January 1, 2014, respectively.

(b)          

Amounts are net of tax of $101 and $113 as of September 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
September 30, 2015

 

Nine months
ended
September 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

 

$

(3

)

$

(7

)

(b)

Actuarial loss

 

 

22

 

 

65

 

(b)(c)

​  

​  

​  

​  

 

 

 

19

 

 

58

 

Total before tax

 

 

 

(4

)

 

(12

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

15

 

$

46

 

Net of tax

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Three months
ended
September 30, 2014

 

Nine months
ended
September 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

 

$

(2

)

$

(7

)

(b)

Actuarial loss

 

 

15

 

 

46

 

(b)(c)

Settlement loss

 

 

10

 

 

11

 

(b)

​  

​  

​  

​  

 

 

 

23

 

 

50

 

Total before tax

 

 

 

(5

)

 

(12

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

18

 

$

38

 

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 $2 and $1 of actuarial losses related to discontinued operations for the three months ended September 30, 2015 and 2014, respectively, and $4 and $3 of actuarial losses related to discontinued operations for the nine months ended September 30, 2015 and 2014, respectively.