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

Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) In Millions, unless otherwise specified	12 Months Ended				12 Months Ended								12 Months Ended									12 Months Ended				0 Months Ended			12 Months Ended						1 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2014 EUR (€)	Dec. 31, 2014 Designated as Hedging Instrument USD ($)	Dec. 31, 2013 Designated as Hedging Instrument USD ($)	Dec. 31, 2014 Forward foreign currency contracts USD ($)	Dec. 31, 2013 Forward foreign currency contracts USD ($)	Dec. 31, 2013 Five-year interest rate contract entered in year 2009 Designated as Hedging Instrument Huntsman International USD ($)	Dec. 31, 2014 Five-year interest rate contract entered in year 2010 Designated as Hedging Instrument Huntsman International USD ($)	Dec. 31, 2013 Five-year interest rate contract entered in year 2010 Designated as Hedging Instrument Huntsman International USD ($)	Dec. 31, 2014 Five-year interest rate contract entered in year 2010 Designated as Hedging Instrument Huntsman International Maximum USD ($)	Dec. 31, 2014 Twelve-year interest rate contract entered in year 2009 Non Designated Hedge Instrument Arabian Amines Company USD ($)	Dec. 31, 2013 Twelve-year interest rate contract entered in year 2009 Non Designated Hedge Instrument Arabian Amines Company USD ($)	Dec. 31, 2009 Twelve-year interest rate contract entered in year 2009 Non Designated Hedge Instrument Arabian Amines Company	Dec. 31, 2014 Twelve-year interest rate contract entered in year 2009 Non Designated Hedge Instrument Arabian Amines Company LIBOR	Dec. 31, 2014 Floating to fixed interest rate contract Sasol Huntsman GmbH and Co. KG USD ($)	Dec. 31, 2014 Floating to fixed interest rate contract Sasol Huntsman GmbH and Co. KG EUR (€)	Dec. 31, 2013 Floating to fixed interest rate contract Sasol Huntsman GmbH and Co. KG USD ($)	Dec. 31, 2013 Floating to fixed interest rate contract Sasol Huntsman GmbH and Co. KG EUR (€)	Dec. 31, 2009 Floating to fixed interest rate contract Sasol Huntsman GmbH and Co. KG	Dec. 31, 2009 Floating to fixed interest rate contract Sasol Huntsman GmbH and Co. KG Eurodollar	Dec. 31, 2014 Cross currency interest rate contracts USD ($)	Nov. 30, 2014 Cross currency interest rate contracts USD ($)	Nov. 30, 2014 Cross currency interest rate contracts EUR (€)	Feb. 11, 2015 Cross currency interest rate contracts Designated as Hedging Instrument USD ($)	Mar. 07, 2010 Cross currency interest rate contracts Designated as Hedging Instrument USD ($)	Mar. 07, 2010 Cross currency interest rate contracts Designated as Hedging Instrument EUR (€)	Dec. 31, 2014 Cross currency interest rate contracts Designated as Hedging Instrument USD ($) item	Dec. 31, 2014 Cross currency interest rate contracts Designated as Hedging Instrument EUR (€) item	Mar. 15, 2015 Cross currency interest rate contracts Designated as Hedging Instrument USD ($)	Mar. 15, 2015 Cross currency interest rate contracts Designated as Hedging Instrument EUR (€)	Feb. 11, 2015 Cross currency interest rate contracts Designated as Hedging Instrument USD ($)	Dec. 31, 2013 Cross currency interest rate contracts Designated as Hedging Instrument USD ($)	Nov. 30, 2014 Five years cross currency interest rate contract item	Nov. 30, 2014 Eight years cross currency interest rate contract item	Dec. 31, 2014 Forward interest rate contract beginning in December, 2014 Designated as Hedging Instrument Huntsman International USD ($)	Dec. 31, 2013 Forward interest rate contract beginning in December, 2014 Designated as Hedging Instrument Huntsman International USD ($)	Dec. 31, 2014 Forward interest rate contract beginning in January, 2015 Designated as Hedging Instrument Huntsman International USD ($)	Dec. 31, 2013 Forward interest rate contract beginning in January, 2015 Designated as Hedging Instrument Huntsman International USD ($)
Derivative Instruments and Hedging Activities
Notional Amounts	$ 800invest_DerivativeNotionalAmount			€ 655invest_DerivativeNotionalAmount			$ 179	$ 193	$ 50	$ 50	$ 50		$ 28											$ 200	€ 161												$ 50	$ 50	$ 50	$ 50
Terminated derivative notional amount																																	200
Hedging period of interest rate contract															12 years
Fixed percentage to be paid under the hedge									2.60%	2.80%	2.80%					5.02%						3.62%															2.50%	2.50%	2.50%	2.50%
Variable rate basis																LIBOR						EURIBOR
Fair value of the hedge									1		1	1	3	4																							2	1	2	2
Strike price (as a percent)																					3.62%
Notional amount of hedge																	27	22
Fair value of interest rate derivative not designated as hedging instrument recorded in liabilities																			1	1
Additional (reduction of) interest expense due to changes in the fair value of the hedges													(1)	(2)			(1)	(1)	(2)	(1)
Maximum maturity period of spot or forward exchange rate contracts							3 months
Changes in accumulated other comprehensive gain (loss)					2	(3)
Number of cross currency interest rate contracts																																			2	1
Term of cross currency interest rate contract																																			5 years	8 years
Approximate term of foreign currency contracts							1 month
Number of counterparties																													3	3
Amount paid to counterparties																											350
Amount received from counterparties																										37		255
Amount payable to counterparties on maturity of derivative contract																																255
Amount receivable from counterparties on maturity of derivative contract																															350
U.S. dollar interest payments to be received twice each year																								5					15
Equivalent annual rate of interest receivable (as a percent)																								5.125%	5.125%				8.625%	8.625%
U.S. dollar interest payments to be made twice each year																									3					11
Equivalent annual rate of interest payable (as a percent)																								3.60%	3.60%				8.41%	8.41%
Fair value of the swap																							5						43					2
Amount of gain (loss) recognized on the hedge of net investments	97	(22)	(11)
Net euro assets	$ 1,851			€ 1,516