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

Quarterly report pursuant to Section 13 or 15(d)

OPERATING SEGMENT INFORMATION (Tables)

OPERATING SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of major products by reportable operating segment

Segment		Products
Polyurethanes		MDI, PO, polyols, PG, TPU, aniline and MTBE
Performance Products		amines, surfactants, LAB, maleic anhydride, other performance chemicals, EG, olefins and technology licenses
Advanced Materials		basic liquid and solid epoxy resins; specialty resin compounds; cross- linking, matting and curing agents; epoxy, acrylic and polyurethane-based formulations
Textile Effects		textile chemicals and dyes
Pigments and Additives		titanium dioxide, functional additives, color pigments, timber treatment and water treatment chemicals

Operating segment information

Schedule of revenues and EBITDA for each of the entity's reportable operating segments

The EBITDA of operating segments excludes items that principally apply to our Company as a whole. The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions):

	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Revenues:
Polyurethanes	$	1,017		$	1,321		$	2,902		$	3,831
Performance Products		618			762			1,949			2,360
Advanced Materials		275			310			847			953
Textile Effects		196			221			618			693
Pigments and Additives		543			318			1,707			976
Corporate and eliminations		(11	)		(48	)		(56	)		(186	)

Total	$	2,638		$	2,884		$	7,967		$	8,627


Huntsman Corporation:
Segment EBITDA(1):
Polyurethanes	$	157		$	162		$	384		$	506
Performance Products		119			123			374			332
Advanced Materials		53			51			156			142
Textile Effects		4			3			28			25
Pigments and Additives		(17	)		6			(156	)		31
Corporate and other(2)		(60	)		(52	)		(153	)		(146	)

Subtotal		256			293			633			890
Discontinued Operations(3)		(1	)		—			(3	)		(9	)

Total		255			293			630			881
Interest expense		(49	)		(49	)		(158	)		(148	)
Income tax (expense) benefit—continuing operations		(49	)		40			(85	)		(39	)
Income tax benefit (expense)—discontinued operations		1			—			(1	)		2
Depreciation and amortization		(103	)		(96	)		(297	)		(335	)

Net income attributable to Huntsman Corporation	$	55		$	188		$	89		$	361


(1)	Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items.
(2)	Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense, benzene sales and gains and losses on the disposition of corporate assets.
(3)	The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.

Huntsman International

Operating segment information

Schedule of revenues and EBITDA for each of the entity's reportable operating segments

	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Huntsman International:
Segment EBITDA(1):
Polyurethanes	$	157		$	162		$	384		$	506
Performance Products		119			123			374			332
Advanced Materials		53			51			156			142
Textile Effects		4			3			28			25
Pigments and Additives		(17	)		6			(156	)		31
Corporate and other(2)		(61	)		(53	)		(155	)		(148	)

Subtotal		255			292			631			888
Discontinued Operations(3)		(1	)		—			(3	)		(9	)

Total		254			292			628			879
Interest expense		(51	)		(52	)		(165	)		(155	)
Income tax (expense) benefit—continuing operations		(48	)		51			(85	)		(29	)
Income tax benefit (expense)—discontinued operations		1			—			(1	)		2
Depreciation and amortization		(100	)		(93	)		(287	)		(322	)

Net income attributable to Huntsman International LLC	$	56		$	198		$	90		$	375


(1)	Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items.
(2)	Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense, benzene sales and gains and losses on the disposition of corporate assets.
(3)	The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.