Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities:      
Net income $ 126 $ 345 $ 149
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in loss (income) of subsidiaries (6) (6) (8)
Depreciation and amortization 399 445 448
Provision for losses on accounts receivable 1   2
Loss on disposal of businesses/assets, net 4 4 5
Loss on early extinguishment of debt 31 28 51
Noncash interest expense 11 11 11
Noncash restructuring and impairment charges 112 37 13
Deferred income taxes (25) (51) 10
Noncash loss on foreign currency transactions 7 15 31
Stock-based compensation 30 28 29
Other, net 3 (2)  
Changes in operating assets and liabilities, net of effects of acquisitions :      
Accounts and notes receivable 121 2 (11)
Inventories 179 (20) 77
Prepaid expenses (52) (2) (11)
Other current assets (64) (44) 23
Other noncurrent assets (98) (44) (113)
Accounts payable (157) 86 (12)
Accrued liabilities (9) 11 (39)
Other noncurrent liabilities (38) (83) 53
Net cash provided by operating activities 575 760 708
Investing Activities:      
Capital expenditures (663) (601) (471)
Cash received from unconsolidated affiliates 48 51 71
Investment in unconsolidated affiliates (54) (108) (104)
Acquisition of businesses, net of cash acquired (14) (960) (66)
Cash received from purchase price adjustment for business acquired 18    
Proceeds from sale of businesses/assets 1 15 2
Cash received from termination of cross-currency interest rate contracts 66    
Change in restricted cash (3)    
Other, net 1 (3) 2
Net cash provided by (used in) investing activities (600) (1,606) (566)
Financing Activities:      
Net repayments under revolving loan facilities (1) (1) (4)
Net repayments on overdraft facilities (8) (5) (9)
Repayments of short-term debt   (8) (18)
Borrowings on short-term debt 12 15 15
Repayments of long-term debt (604) (418) (840)
Proceeds from issuance of long-term debt 326 1,792 979
Repayments of notes payable (33) (34) (40)
Borrowings on notes payable 34 33 35
Debt issuance costs paid (8) (67) (11)
Call premiums related to early extinguishment of debt (35) (24) (4)
Contingent consideration paid for business acquired (4) (6)  
Dividends paid to common stockholders (121) (121) (120)
Dividends paid to noncontrolling interests (14) (4)  
Repurchase and cancellation of stock awards (7) (7) (6)
Proceeds from issuance of common stock 1 47 13
Repurchase of common stock (100)    
Excess tax benefit related to stock-based compensation 1 1 1
Other, net (1) 4 3
Net cash (used in) provided by financing activities (562) 1,197 (6)
Effect of exchange rate changes on cash (16) (11) (3)
(Decrease) increase in cash and cash equivalents (603) 340 133
Cash and cash equivalents at beginning of period 860 [1] 520 387
Cash and cash equivalents at end of period 257 [1] 860 [1] 520
Supplemental cash flow information:      
Cash paid for interest 225 208 187
Cash paid for income taxes 126 165 78
Huntsman International      
Operating Activities:      
Net income 127 357 147
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in loss (income) of subsidiaries (6) (6) (8)
Depreciation and amortization 387 430 424
Provision for losses on accounts receivable 1   2
Loss on disposal of businesses/assets, net 4 4 5
Loss on early extinguishment of debt 31 28 51
Noncash interest expense 20 21 23
Noncash restructuring and impairment charges 112 37 13
Deferred income taxes (24) (48) 56
Noncash loss on foreign currency transactions 7 15 31
Noncash compensation 29 27 28
Other, net 4 (3)  
Changes in operating assets and liabilities, net of effects of acquisitions :      
Accounts and notes receivable 121 2 (11)
Inventories 179 (20) 77
Prepaid expenses (52) (2) (11)
Other current assets (66) (37) 23
Other noncurrent assets (98) (44) (113)
Accounts payable (166) 76 (24)
Accrued liabilities (9) (8) (39)
Other noncurrent liabilities (31) (75) 60
Net cash provided by operating activities 570 754 734
Investing Activities:      
Capital expenditures (663) (601) (471)
Cash received from unconsolidated affiliates 48 51 71
Investment in unconsolidated affiliates (54) (108) (104)
Acquisition of businesses, net of cash acquired (14) (960) (66)
Cash received from purchase price adjustment for business acquired 18    
Proceeds from sale of businesses/assets 1 15 2
Decrease (increase) in receivable from affiliate 1 (2) (48)
Cash received from termination of cross-currency interest rate contracts 66    
Change in restricted cash (3)    
Other, net 1 (2) 2
Net cash provided by (used in) investing activities (599) (1,607) (614)
Financing Activities:      
Net repayments under revolving loan facilities (1) (1) (4)
Net repayments on overdraft facilities (8) (5) (9)
Repayments of short-term debt   (8) (18)
Borrowings on short-term debt 12 15 15
Repayments of long-term debt (604) (418) (840)
Proceeds from issuance of long-term debt 326 1,792 979
Repayments of notes payable to affiliate (148) (122)  
Proceeds from issuance of notes payable from affiliate 195   177
Repayments of notes payable (33) (34) (40)
Borrowings on notes payable 34 33 35
Debt issuance costs paid (8) (67) (11)
Call premiums related to early extinguishment of debt (35) (24) (4)
Contingent consideration paid for business acquired (4) (6)  
Dividends paid to noncontrolling interests (14) (4)  
Dividends paid to parent (121) (97) (96)
Excess tax benefit related to stock-based compensation 1 1 1
Other, net   4 3
Net cash (used in) provided by financing activities (408) 1,059 188
Effect of exchange rate changes on cash (16) (11) (3)
(Decrease) increase in cash and cash equivalents (453) 195 305
Cash and cash equivalents at beginning of period 710 [1] 515 210
Cash and cash equivalents at end of period 257 [1] 710 [1] 515
Supplemental cash flow information:      
Cash paid for interest 225 208 205
Cash paid for income taxes $ 126 $ 165 $ 44
[1] At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”