Annual report pursuant to Section 13 and 15(d)

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)

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SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)
12 Months Ended
Dec. 31, 2011
Quarterly Financial Information  
Summary of selected unaudited quarterly financial data

 

 

 
  Three months ended(1)  
 
  March 31,
2011
  June 30,
2011
  September 30,
2011(2)
  December 31,
2011(3)
 

Revenues

  $ 2,679   $ 2,934   $ 2,976   $ 2,632  

Gross profit

    460     501     490     389  

Restructuring, impairment and plant closing costs (credits)

    7     9     155     (4 )

Income (loss) from continuing operations

    80     124     (42 )   89  

Income (loss) before extraordinary gain

    66     123     (32 )   93  

Net income (loss)

    67     124     (32 )   95  

Net income (loss) attributable to Huntsman Corporation

    62     114     (34 )   105  

Basic income (loss) per share:

                         

Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders

    0.32     0.48     (0.19 )   0.42  

Net income (loss) attributable to Huntsman Corporation common stockholders

    0.26     0.48     (0.14 )   0.45  

Diluted income (loss) per share:

                         

Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders

    0.31     0.47     (0.19 )   0.41  

Net income (loss) attributable to Huntsman Corporation common stockholders

    0.26     0.47     (0.14 )   0.44  


 

 

 
  Three months ended(1)  
 
  March 31,
2010(4)
  June 30,
2010(5)
  September 30,
2010
  December 31,
2010
 

Revenues

  $ 2,094   $ 2,343   $ 2,401   $ 2,412  

Gross profit

    281     385     415     380  

Restructuring, impairment and plant closing costs

    3     17     4     5  

(Loss) income from continuing operations

    (159 )   54     57     39  

(Loss) income before extraordinary gain

    (172 )   116     56     33  

Net (loss) income

    (172 )   116     56     32  

Net (loss) income attributable to Huntsman Corporation

    (172 )   114     55     30  

Basic (loss) income per share:

                         

(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders

    (0.68 )   0.22     0.24     0.16  

Net (loss) income attributable to Huntsman Corporation common stockholders

    (0.73 )   0.48     0.23     0.13  

Diluted (loss) income per share:

                         

(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders

    (0.68 )   0.21     0.23     0.15  

Net (loss) income attributable to Huntsman Corporation common stockholders

    (0.73 )   0.47     0.23     0.12  
 
 
(1)
Basic and diluted income per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.

(2)
During the quarter ended September 30, 2011, we announced plans to implement a significant restructuring of our Textile Effects business, including the closure of our production facilities and business support offices in Basel, Switzerland. In connection with this plan during 2011, we recorded a charge of $62 million for workforce reduction and a noncash $53 million charge for the impairment of long-lived assets at our Basel, Switzerland manufacturing facility.

(3)
During the quarter ended December 31, 2011, our Advanced Materials division completed the sale of its stereolithography resin and Digitalis® machine manufacturing businesses to 3D Systems Corporation and recognized a pre-tax gain of $34 million.

(4)
During the quarter ended March 31, 2010, we repurchased the entire $250 million principal amount of our outstanding Convertible Notes for approximately $382 million and recorded a loss on early extinguishment of debt of $146 million.

 
(5)
During the quarter ended June 30, 2010, we recorded a non-recurring $15 million credit to equity income of investment in unconsolidated affiliates to appropriately reflect our investment in the Sasol-Huntsman joint venture. Additionally, during the quarter ended June 30, 2010, we recorded a reduction to interest expense of $15 million relating to the ineffective portion of our cross-currency interest rate contracts.
Limited Liability Company [Member]
 
Quarterly Financial Information  
Summary of selected unaudited quarterly financial data

 

 

 
  Three months ended  
 
  March 31,
2011
  June 30,
2011
  September 30,
2011(2)
  December 31,
2011(3)
 

Revenues

  $ 2,679   $ 2,934   $ 2,976   $ 2,632  

Gross profit

    465     505     495     393  

Restructuring, impairment and plant closing costs

    7     9     155     (4 )

Income (loss) from continuing operations

    81     127     (39 )   88  

Income (loss) before extraordinary gain

    67     126     (29 )   92  

Net income (loss)

    68     127     (29 )   94  

Net income (loss) attributable to Huntsman International LLC

  $ 63   $ 117   $ (31 ) $ 104  


 

 
  Three months ended  
 
  March 31,
2010
  June 30,
2010(5)
  September 30,
2010
  December 31,
2010
 

Revenues

  $ 2,094   $ 2,343   $ 2,401   $ 2,412  

Gross profit

    286     388     420     384  

Restructuring, impairment and plant closing costs

    3     17     4     5  

(Loss) income from continuing operations

    (13 )   57     60     40  

(Loss) income before extraordinary gain

    (26 )   119     59     34  

Net (loss) income

    (26 )   119     59     33  

Net (loss) income attributable to Huntsman International LLC

    (26 )   117     58     31  

 

 

(2)
During the quarter ended September 30, 2011, we announced plans to implement a significant restructuring of our Textile Effects business, including the closure of our production facilities and business support offices in Basel, Switzerland. In connection with this plan during 2011, we recorded a charge of $62 million for workforce reduction and a noncash $53 million charge for the impairment of long-lived assets at our Basel, Switzerland manufacturing facility.

(3)
During the quarter ended December 31, 2011, our Advanced Materials division completed the sale of its stereolithography resin and Digitalis® machine manufacturing businesses to 3D Systems Corporation and recognized a pre-tax gain of $34 million.

 

(5)
During the quarter ended June 30, 2010, we recorded a non-recurring $15 million credit to equity income of investment in unconsolidated affiliates to appropriately reflect our investment in the Sasol-Huntsman joint venture. Additionally, during the quarter ended June 30, 2010, we recorded a reduction to interest expense of $15 million relating to the ineffective portion of our cross-currency interest rate contracts.