| CONDENSED CONSOLIDATING FINANCIAL INFORMATION |
26. CONDENSED CONSOLIDATING FINANCIAL INFORMATION
The following condensed consolidating financial statements present, in separate columns, financial information for the following: Huntsman International (on a parent only basis), with its investment in subsidiaries recorded under the equity method; the Guarantors on a combined, and where appropriate, consolidated basis; and the nonguarantors on a combined, and where appropriate, consolidated basis. Additional columns present eliminating adjustments and consolidated totals as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013. There are no contractual restrictions limiting transfers of cash from Guarantor subsidiaries to our Company. Each of the Guarantors is 100% owned by us and has fully and unconditionally guaranteed our outstanding notes on a joint and several basis. In connection with the financing of the Rockwood Acquisition, we added four new guarantor entities.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2015
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International LLC
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
44
|
|
$
|
1
|
|
$
|
212
|
|
$
|
—
|
|
$
|
257
|
|
|
Restricted cash
|
|
|
—
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
12
|
|
|
Accounts and notes receivable, net
|
|
|
21
|
|
|
96
|
|
|
1,298
|
|
|
5
|
|
|
1,420
|
|
|
Accounts receivable from affiliates
|
|
|
2,163
|
|
|
4,730
|
|
|
163
|
|
|
(6,716
|
)
|
|
340
|
|
|
Inventories
|
|
|
101
|
|
|
322
|
|
|
1,275
|
|
|
(6
|
)
|
|
1,692
|
|
|
Prepaid expenses
|
|
|
49
|
|
|
31
|
|
|
91
|
|
|
(60
|
)
|
|
111
|
|
|
Other current assets
|
|
|
790
|
|
|
8
|
|
|
212
|
|
|
(704
|
)
|
|
306
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
3,168
|
|
|
5,188
|
|
|
3,263
|
|
|
(7,481
|
)
|
|
4,138
|
|
|
Property, plant and equipment, net
|
|
|
473
|
|
|
1,433
|
|
|
2,503
|
|
|
1
|
|
|
4,410
|
|
|
Investment in unconsolidated affiliates
|
|
|
5,991
|
|
|
1,558
|
|
|
263
|
|
|
(7,465
|
)
|
|
347
|
|
|
Intangible assets, net
|
|
|
32
|
|
|
3
|
|
|
51
|
|
|
—
|
|
|
86
|
|
|
Goodwill
|
|
|
(13
|
)
|
|
82
|
|
|
47
|
|
|
—
|
|
|
116
|
|
|
Deferred income taxes
|
|
|
473
|
|
|
—
|
|
|
430
|
|
|
(485
|
)
|
|
418
|
|
|
Notes receivable from affiliates
|
|
|
36
|
|
|
539
|
|
|
6
|
|
|
(581
|
)
|
|
—
|
|
|
Other noncurrent assets
|
|
|
71
|
|
|
223
|
|
|
279
|
|
|
—
|
|
|
573
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
10,231
|
|
$
|
9,026
|
|
$
|
6,842
|
|
$
|
(16,011
|
)
|
$
|
10,088
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
50
|
|
$
|
207
|
|
$
|
772
|
|
$
|
5
|
|
$
|
1,034
|
|
|
Accounts payable to affiliates
|
|
|
3,905
|
|
|
973
|
|
|
1,891
|
|
|
(6,717
|
)
|
|
52
|
|
|
Accrued liabilities
|
|
|
74
|
|
|
793
|
|
|
581
|
|
|
(765
|
)
|
|
683
|
|
|
Note payable to affiliate
|
|
|
100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100
|
|
|
Current portion of debt
|
|
|
89
|
|
|
—
|
|
|
81
|
|
|
—
|
|
|
170
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
4,218
|
|
|
1,973
|
|
|
3,325
|
|
|
(7,477
|
)
|
|
2,039
|
|
|
Long-term debt
|
|
|
4,229
|
|
|
—
|
|
|
396
|
|
|
—
|
|
|
4,625
|
|
|
Notes payable to affiliates
|
|
|
703
|
|
|
—
|
|
|
576
|
|
|
(581
|
)
|
|
698
|
|
|
Deferred income taxes
|
|
|
24
|
|
|
276
|
|
|
36
|
|
|
82
|
|
|
418
|
|
|
Other noncurrent liabilities
|
|
|
160
|
|
|
241
|
|
|
819
|
|
|
4
|
|
|
1,224
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
9,334
|
|
|
2,490
|
|
|
5,152
|
|
|
(7,972
|
)
|
|
9,004
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman International LLC members' equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members' equity
|
|
|
3,196
|
|
|
4,517
|
|
|
3,394
|
|
|
(7,911
|
)
|
|
3,196
|
|
|
Accumulated (deficit) income
|
|
|
(983
|
)
|
|
652
|
|
|
(557
|
)
|
|
(95
|
)
|
|
(983
|
)
|
|
Accumulated other comprehensive (loss) income
|
|
|
(1,316
|
)
|
|
1,367
|
|
|
(1,311
|
)
|
|
(56
|
)
|
|
(1,316
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Huntsman International LLC members' equity
|
|
|
897
|
|
|
6,536
|
|
|
1,526
|
|
|
(8,062
|
)
|
|
897
|
|
|
Noncontrolling interests in subsidiaries
|
|
|
—
|
|
|
—
|
|
|
164
|
|
|
23
|
|
|
187
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
897
|
|
|
6,536
|
|
|
1,690
|
|
|
(8,039
|
)
|
|
1,084
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity
|
|
$
|
10,231
|
|
$
|
9,026
|
|
$
|
6,842
|
|
$
|
(16,011
|
)
|
$
|
10,088
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2014
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International
LLC
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
353
|
|
$
|
6
|
|
$
|
351
|
|
$
|
—
|
|
$
|
710
|
|
|
Restricted cash
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|
Accounts and notes receivable, net
|
|
|
57
|
|
|
127
|
|
|
1,476
|
|
|
5
|
|
|
1,665
|
|
|
Accounts receivable from affiliates
|
|
|
2,256
|
|
|
4,732
|
|
|
152
|
|
|
(6,794
|
)
|
|
346
|
|
|
Inventories
|
|
|
120
|
|
|
350
|
|
|
1,558
|
|
|
(3
|
)
|
|
2,025
|
|
|
Prepaid expenses
|
|
|
17
|
|
|
9
|
|
|
46
|
|
|
(11
|
)
|
|
61
|
|
|
Deferred income taxes
|
|
|
12
|
|
|
—
|
|
|
68
|
|
|
(18
|
)
|
|
62
|
|
|
Other current assets
|
|
|
697
|
|
|
7
|
|
|
208
|
|
|
(606
|
)
|
|
306
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
3,512
|
|
|
5,231
|
|
|
3,869
|
|
|
(7,427
|
)
|
|
5,185
|
|
|
Property, plant and equipment, net
|
|
|
431
|
|
|
1,251
|
|
|
2,692
|
|
|
1
|
|
|
4,375
|
|
|
Investment in unconsolidated affiliates
|
|
|
6,024
|
|
|
1,594
|
|
|
256
|
|
|
(7,524
|
)
|
|
350
|
|
|
Intangible assets, net
|
|
|
35
|
|
|
5
|
|
|
56
|
|
|
—
|
|
|
96
|
|
|
Goodwill
|
|
|
(15
|
)
|
|
82
|
|
|
55
|
|
|
—
|
|
|
122
|
|
|
Deferred income taxes
|
|
|
454
|
|
|
—
|
|
|
435
|
|
|
(454
|
)
|
|
435
|
|
|
Notes receivable from affiliates
|
|
|
23
|
|
|
592
|
|
|
—
|
|
|
(615
|
)
|
|
—
|
|
|
Other noncurrent assets
|
|
|
48
|
|
|
203
|
|
|
212
|
|
|
(4
|
)
|
|
459
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
10,512
|
|
$
|
8,958
|
|
$
|
7,575
|
|
$
|
(16,023
|
)
|
$
|
11,022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
55
|
|
$
|
290
|
|
$
|
868
|
|
$
|
5
|
|
$
|
1,218
|
|
|
Accounts payable to affiliates
|
|
|
3,696
|
|
|
974
|
|
|
2,198
|
|
|
(6,794
|
)
|
|
74
|
|
|
Accrued liabilities
|
|
|
102
|
|
|
699
|
|
|
553
|
|
|
(618
|
)
|
|
736
|
|
|
Deferred income taxes
|
|
|
—
|
|
|
51
|
|
|
20
|
|
|
(19
|
)
|
|
52
|
|
|
Note payable to affiliate
|
|
|
100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100
|
|
|
Current portion of debt
|
|
|
40
|
|
|
—
|
|
|
227
|
|
|
—
|
|
|
267
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
3,993
|
|
|
2,014
|
|
|
3,866
|
|
|
(7,426
|
)
|
|
2,447
|
|
|
Long-term debt
|
|
|
4,550
|
|
|
—
|
|
|
304
|
|
|
—
|
|
|
4,854
|
|
|
Notes payable to affiliates
|
|
|
650
|
|
|
—
|
|
|
621
|
|
|
(615
|
)
|
|
656
|
|
|
Deferred income taxes
|
|
|
29
|
|
|
197
|
|
|
46
|
|
|
54
|
|
|
326
|
|
|
Other noncurrent liabilities
|
|
|
167
|
|
|
261
|
|
|
1,015
|
|
|
—
|
|
|
1,443
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
9,389
|
|
|
2,472
|
|
|
5,852
|
|
|
(7,987
|
)
|
|
9,726
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman International LLC members' equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members' equity
|
|
|
3,166
|
|
|
4,676
|
|
|
3,127
|
|
|
(7,803
|
)
|
|
3,166
|
|
|
Accumulated (deficit) income
|
|
|
(956
|
)
|
|
409
|
|
|
(501
|
)
|
|
92
|
|
|
(956
|
)
|
|
Accumulated other comprehensive (loss) income
|
|
|
(1,087
|
)
|
|
1,401
|
|
|
(1,076
|
)
|
|
(325
|
)
|
|
(1,087
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Huntsman International LLC members' equity
|
|
|
1,123
|
|
|
6,486
|
|
|
1,550
|
|
|
(8,036
|
)
|
|
1,123
|
|
|
Noncontrolling interests in subsidiaries
|
|
|
—
|
|
|
—
|
|
|
173
|
|
|
—
|
|
|
173
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
1,123
|
|
|
6,486
|
|
|
1,723
|
|
|
(8,036
|
)
|
|
1,296
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity
|
|
$
|
10,512
|
|
$
|
8,958
|
|
$
|
7,575
|
|
$
|
(16,023
|
)
|
$
|
11,022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2015
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International
LLC
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
1,054
|
|
$
|
2,478
|
|
$
|
6,636
|
|
$
|
—
|
|
$
|
10,168
|
|
|
Related party sales
|
|
|
238
|
|
|
470
|
|
|
1,062
|
|
|
(1,639
|
)
|
|
131
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
1,292
|
|
|
2,948
|
|
|
7,698
|
|
|
(1,639
|
)
|
|
10,299
|
|
|
Cost of goods sold
|
|
|
1,026
|
|
|
2,341
|
|
|
6,717
|
|
|
(1,637
|
)
|
|
8,447
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
266
|
|
|
607
|
|
|
981
|
|
|
(2
|
)
|
|
1,852
|
|
|
Selling, general and administrative
|
|
|
172
|
|
|
174
|
|
|
631
|
|
|
—
|
|
|
977
|
|
|
Research and development
|
|
|
54
|
|
|
45
|
|
|
61
|
|
|
—
|
|
|
160
|
|
|
Other operating (income) expense
|
|
|
(27
|
)
|
|
(29
|
)
|
|
56
|
|
|
—
|
|
|
—
|
|
|
Restructuring, impairment and plant closing costs
|
|
|
7
|
|
|
12
|
|
|
283
|
|
|
—
|
|
|
302
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
|
60
|
|
|
405
|
|
|
(50
|
)
|
|
(2
|
)
|
|
413
|
|
|
Interest (expense) income
|
|
|
(220
|
)
|
|
35
|
|
|
(29
|
)
|
|
—
|
|
|
(214
|
)
|
|
Equity in income (loss) of investment in affiliates and subsidiaries
|
|
|
169
|
|
|
(57
|
)
|
|
5
|
|
|
(111
|
)
|
|
6
|
|
|
Loss on early extinguishment of debt
|
|
|
(31
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(31
|
)
|
|
Other income (loss)
|
|
|
2
|
|
|
(12
|
)
|
|
13
|
|
|
(1
|
)
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income from continuing operations before income taxes
|
|
|
(20
|
)
|
|
371
|
|
|
(61
|
)
|
|
(114
|
)
|
|
176
|
|
|
Income tax benefit (expense)
|
|
|
113
|
|
|
(123
|
)
|
|
24
|
|
|
(59
|
)
|
|
(45
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations
|
|
|
93
|
|
|
248
|
|
|
(37
|
)
|
|
(173
|
)
|
|
131
|
|
|
Income (loss) from discontinued operations, net of tax
|
|
|
1
|
|
|
(2
|
)
|
|
(3
|
)
|
|
—
|
|
|
(4
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
94
|
|
|
246
|
|
|
(40
|
)
|
|
(173
|
)
|
|
127
|
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(22
|
)
|
|
(11
|
)
|
|
(33
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to Huntsman International LLC
|
|
$
|
94
|
|
$
|
246
|
|
$
|
(62
|
)
|
$
|
(184
|
)
|
$
|
94
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
94
|
|
$
|
246
|
|
$
|
(40
|
)
|
$
|
(173
|
)
|
$
|
127
|
|
|
Other comprehensive loss
|
|
|
(229
|
)
|
|
(35
|
)
|
|
(248
|
)
|
|
278
|
|
|
(234
|
)
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(13
|
)
|
|
(15
|
)
|
|
(28
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive (loss) income attributable to Huntsman International LLC
|
|
$
|
(135
|
)
|
$
|
211
|
|
$
|
(301
|
)
|
$
|
90
|
|
$
|
(135
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2014
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International
LLC
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
1,194
|
|
$
|
3,164
|
|
$
|
6,959
|
|
$
|
—
|
|
$
|
11,317
|
|
|
Related party sales
|
|
|
299
|
|
|
511
|
|
|
1,377
|
|
|
(1,926
|
)
|
|
261
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
1,493
|
|
|
3,675
|
|
|
8,336
|
|
|
(1,926
|
)
|
|
11,578
|
|
|
Cost of goods sold
|
|
|
1,222
|
|
|
2,909
|
|
|
7,451
|
|
|
(1,931
|
)
|
|
9,651
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
271
|
|
|
766
|
|
|
885
|
|
|
5
|
|
|
1,927
|
|
|
Selling, general and administrative
|
|
|
164
|
|
|
163
|
|
|
642
|
|
|
—
|
|
|
969
|
|
|
Research and development
|
|
|
48
|
|
|
40
|
|
|
70
|
|
|
—
|
|
|
158
|
|
|
Other operating (income) expense
|
|
|
(7
|
)
|
|
(8
|
)
|
|
11
|
|
|
—
|
|
|
(4
|
)
|
|
Restructuring, impairment and plant closing costs
|
|
|
7
|
|
|
5
|
|
|
146
|
|
|
—
|
|
|
158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
|
59
|
|
|
566
|
|
|
16
|
|
|
5
|
|
|
646
|
|
|
Interest (expense) income
|
|
|
(204
|
)
|
|
37
|
|
|
(47
|
)
|
|
—
|
|
|
(214
|
)
|
|
Equity in income (loss) of investment in affiliates and subsidiaries
|
|
|
186
|
|
|
(51
|
)
|
|
6
|
|
|
(135
|
)
|
|
6
|
|
|
Loss on early extinguishment of debt
|
|
|
(28
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(28
|
)
|
|
Other income (loss)
|
|
|
3
|
|
|
(5
|
)
|
|
3
|
|
|
(2
|
)
|
|
(1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations before income taxes
|
|
|
16
|
|
|
547
|
|
|
(22
|
)
|
|
(132
|
)
|
|
409
|
|
|
Income tax benefit (expense)
|
|
|
318
|
|
|
(202
|
)
|
|
(2
|
)
|
|
(157
|
)
|
|
(43
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations
|
|
|
334
|
|
|
345
|
|
|
(24
|
)
|
|
(289
|
)
|
|
366
|
|
|
Income (loss) from discontinued operations, net of tax
|
|
|
1
|
|
|
—
|
|
|
(10
|
)
|
|
—
|
|
|
(9
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
335
|
|
|
345
|
|
|
(34
|
)
|
|
(289
|
)
|
|
357
|
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(18
|
)
|
|
(4
|
)
|
|
(22
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to Huntsman International LLC
|
|
$
|
335
|
|
$
|
345
|
|
$
|
(52
|
)
|
$
|
(293
|
)
|
$
|
335
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
335
|
|
$
|
345
|
|
$
|
(34
|
)
|
$
|
(289
|
)
|
$
|
357
|
|
|
Other comprehensive (loss) income
|
|
|
(469
|
)
|
|
115
|
|
|
(440
|
)
|
|
310
|
|
|
(484
|
)
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
1
|
|
|
(7
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive (loss) income attributable to Huntsman International LLC
|
|
$
|
(134
|
)
|
$
|
460
|
|
$
|
(482
|
)
|
$
|
22
|
|
$
|
(134
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
YEAR ENDED DECEMBER 31, 2013
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International
LLC
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
1,039
|
|
$
|
3,193
|
|
$
|
6,615
|
|
$
|
—
|
|
$
|
10,847
|
|
|
Related party sales
|
|
|
315
|
|
|
470
|
|
|
1,277
|
|
|
(1,830
|
)
|
|
232
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
1,354
|
|
|
3,663
|
|
|
7,892
|
|
|
(1,830
|
)
|
|
11,079
|
|
|
Cost of goods sold
|
|
|
1,097
|
|
|
2,904
|
|
|
7,137
|
|
|
(1,829
|
)
|
|
9,309
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
257
|
|
|
759
|
|
|
755
|
|
|
(1
|
)
|
|
1,770
|
|
|
Selling, general and administrative
|
|
|
168
|
|
|
131
|
|
|
637
|
|
|
—
|
|
|
936
|
|
|
Research and development
|
|
|
51
|
|
|
38
|
|
|
51
|
|
|
—
|
|
|
140
|
|
|
Other operating (income) expense
|
|
|
(6
|
)
|
|
(10
|
)
|
|
26
|
|
|
—
|
|
|
10
|
|
|
Restructuring, impairment and plant closing costs
|
|
|
13
|
|
|
15
|
|
|
123
|
|
|
—
|
|
|
151
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
|
31
|
|
|
585
|
|
|
(82
|
)
|
|
(1
|
)
|
|
533
|
|
|
Interest (expense) income, net
|
|
|
(185
|
)
|
|
43
|
|
|
(61
|
)
|
|
—
|
|
|
(203
|
)
|
|
Equity in income (loss) of investment in affiliates and subsidiaries
|
|
|
118
|
|
|
(134
|
)
|
|
8
|
|
|
16
|
|
|
8
|
|
|
Loss on early extinguishment of debt
|
|
|
(51
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(51
|
)
|
|
Other income
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|
(2
|
)
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income from continuing operations before income taxes
|
|
|
(85
|
)
|
|
494
|
|
|
(133
|
)
|
|
13
|
|
|
289
|
|
|
Income tax benefit (expense)
|
|
|
210
|
|
|
(200
|
)
|
|
26
|
|
|
(173
|
)
|
|
(137
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations
|
|
|
125
|
|
|
294
|
|
|
(107
|
)
|
|
(160
|
)
|
|
152
|
|
|
Income (loss) from discontinued operations, net of tax
|
|
|
1
|
|
|
(1
|
)
|
|
(5
|
)
|
|
—
|
|
|
(5
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
126
|
|
|
293
|
|
|
(112
|
)
|
|
(160
|
)
|
|
147
|
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(22
|
)
|
|
1
|
|
|
(21
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to Huntsman International LLC
|
|
$
|
126
|
|
$
|
293
|
|
$
|
(134
|
)
|
$
|
(159
|
)
|
$
|
126
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
126
|
|
$
|
293
|
|
$
|
(112
|
)
|
$
|
(160
|
)
|
$
|
147
|
|
|
Other comprehensive income
|
|
|
173
|
|
|
34
|
|
|
48
|
|
|
(77
|
)
|
|
178
|
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(23
|
)
|
|
(3
|
)
|
|
(26
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to Huntsman International LLC
|
|
$
|
299
|
|
$
|
327
|
|
$
|
(87
|
)
|
$
|
(240
|
)
|
$
|
299
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2015
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International LLC
|
|
|
Net cash (used in) provided by operating activities
|
|
$
|
(23
|
)
|
$
|
277
|
|
$
|
318
|
|
$
|
(2
|
)
|
$
|
570
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(70
|
)
|
|
(267
|
)
|
|
(326
|
)
|
|
—
|
|
|
(663
|
)
|
|
Cash received from unconsolidated affiliates
|
|
|
—
|
|
|
48
|
|
|
—
|
|
|
—
|
|
|
48
|
|
|
Investment in affiliate
|
|
|
34
|
|
|
3
|
|
|
(6
|
)
|
|
(31
|
)
|
|
—
|
|
|
Investment in unconsolidated affiliates
|
|
|
—
|
|
|
(42
|
)
|
|
(12
|
)
|
|
—
|
|
|
(54
|
)
|
|
Acquisition of businesses, net of cash acquired
|
|
|
—
|
|
|
—
|
|
|
(14
|
)
|
|
—
|
|
|
(14
|
)
|
|
Cash received from purchase price adjustment for business acquired
|
|
|
18
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
18
|
|
|
Proceeds from sale of businesses/assets
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
1
|
|
|
Increase in receivable from affiliate
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Cash received from termination of cross-currency interest rate contracts
|
|
|
66
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
66
|
|
|
Change in restricted cash
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|
Other, net
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
50
|
|
|
(258
|
)
|
|
(360
|
)
|
|
(31
|
)
|
|
(599
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments under revolving loan facilities
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|
Net borrowings on overdraft facilities
|
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
12
|
|
|
Repayments of long-term debt
|
|
|
(548
|
)
|
|
—
|
|
|
(56
|
)
|
|
—
|
|
|
(604
|
)
|
|
Proceeds from issuance of long-term debt
|
|
|
326
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
326
|
|
|
Repayments of notes payable to affiliate
|
|
|
(148
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(148
|
)
|
|
Proceeds from notes payable to affiliate
|
|
|
201
|
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
|
195
|
|
|
Repayments of notes payable
|
|
|
(32
|
)
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(33
|
)
|
|
Borrowings on notes payable
|
|
|
32
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
34
|
|
|
Debt issuance costs paid
|
|
|
(8
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
Call premiums related to early extinguishment of debt
|
|
|
(35
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(35
|
)
|
|
Contingent consideration paid for acquisition
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(14
|
)
|
|
—
|
|
|
(14
|
)
|
|
Contribution from parent
|
|
|
—
|
|
|
5
|
|
|
(7
|
)
|
|
2
|
|
|
—
|
|
|
Distribution to parent
|
|
|
—
|
|
|
(27
|
)
|
|
(8
|
)
|
|
35
|
|
|
—
|
|
|
Dividends paid to parent
|
|
|
(121
|
)
|
|
(2
|
)
|
|
—
|
|
|
2
|
|
|
(121
|
)
|
|
Excess tax benefit related to stock-based compensation
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
(336
|
)
|
|
(24
|
)
|
|
(81
|
)
|
|
33
|
|
|
(408
|
)
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
(16
|
)
|
|
—
|
|
|
(16
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in cash and cash equivalents
|
|
|
(309
|
)
|
|
(5
|
)
|
|
(139
|
)
|
|
—
|
|
|
(453
|
)
|
|
Cash and cash equivalents at beginning of period
|
|
|
353
|
|
|
6
|
|
|
351
|
|
|
—
|
|
|
710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
44
|
|
$
|
1
|
|
$
|
212
|
|
$
|
—
|
|
$
|
257
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the first quarter of 2015, we made a noncash capital contribution of approximately $284 million between guarantor and nonguarantor entities and a noncash capital contribution of approximately $123 million between parent and guarantor entities.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2014
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International LLC
|
|
|
Net cash provided by operating activities
|
|
$
|
25
|
|
$
|
252
|
|
$
|
480
|
|
$
|
(3
|
)
|
$
|
754
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(85
|
)
|
|
(223
|
)
|
|
(293
|
)
|
|
—
|
|
|
(601
|
)
|
|
Cash received from unconsolidated affiliates
|
|
|
—
|
|
|
48
|
|
|
3
|
|
|
—
|
|
|
51
|
|
|
Investment in affiliate
|
|
|
38
|
|
|
(10
|
)
|
|
—
|
|
|
(28
|
)
|
|
—
|
|
|
Investment in unconsolidated affiliates
|
|
|
—
|
|
|
(37
|
)
|
|
(71
|
)
|
|
—
|
|
|
(108
|
)
|
|
Acquisition of businesses, net of cash acquired
|
|
|
(1,038
|
)
|
|
—
|
|
|
78
|
|
|
—
|
|
|
(960
|
)
|
|
Proceeds from sale of businesses/assets
|
|
|
3
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
15
|
|
|
Increase in receivable from affiliate
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
|
Other, net
|
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
(1,084
|
)
|
|
(222
|
)
|
|
(273
|
)
|
|
(28
|
)
|
|
(1,607
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments under revolving loan facilities
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|
Net borrowings on overdraft facilities
|
|
|
—
|
|
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
(5
|
)
|
|
Repayments of short-term debt
|
|
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|
Repayments of long-term debt
|
|
|
(372
|
)
|
|
—
|
|
|
(46
|
)
|
|
—
|
|
|
(418
|
)
|
|
Proceeds from issuance of long-term debt
|
|
|
1,792
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,792
|
|
|
Repayments of notes payable to affiliate
|
|
|
(122
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(122
|
)
|
|
Repayments of notes payable
|
|
|
(32
|
)
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(34
|
)
|
|
Borrowings on notes payable
|
|
|
31
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
33
|
|
|
Debt issuance costs paid
|
|
|
(67
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(67
|
)
|
|
Call premiums related to early extinguishment of debt
|
|
|
(24
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(24
|
)
|
|
Contingent consideration paid for acquisition
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
|
Contribution from parent
|
|
|
—
|
|
|
11
|
|
|
(4
|
)
|
|
(7
|
)
|
|
—
|
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|
Distribution to parent
|
|
|
—
|
|
|
(34
|
)
|
|
(1
|
)
|
|
35
|
|
|
—
|
|
|
Dividends paid to parent
|
|
|
(97
|
)
|
|
(2
|
)
|
|
—
|
|
|
2
|
|
|
(97
|
)
|
|
Excess tax benefit related to stock-based compensation
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Other, net
|
|
|
—
|
|
|
1
|
|
|
2
|
|
|
1
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
1,104
|
|
|
(24
|
)
|
|
(52
|
)
|
|
31
|
|
|
1,059
|
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
(11
|
)
|
|
—
|
|
|
(11
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in cash and cash equivalents
|
|
|
45
|
|
|
6
|
|
|
144
|
|
|
—
|
|
|
195
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
308
|
|
|
—
|
|
|
207
|
|
|
—
|
|
|
515
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
353
|
|
$
|
6
|
|
$
|
351
|
|
$
|
—
|
|
$
|
710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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During the third quarter of 2014, we made a noncash capital contribution of $116 million between guarantor and nonguarantor entities.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2013
(In Millions)
|
|
|
Parent
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
Consolidated
Huntsman
International LLC
|
|
|
Net cash provided by operating activities
|
|
$
|
113
|
|
$
|
167
|
|
$
|
456
|
|
$
|
(2
|
)
|
$
|
734
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(52
|
)
|
|
(134
|
)
|
|
(285
|
)
|
|
—
|
|
|
(471
|
)
|
|
Cash received from unconsolidated affiliates
|
|
|
—
|
|
|
71
|
|
|
—
|
|
|
—
|
|
|
71
|
|
|
Investment in affiliate
|
|
|
68
|
|
|
(11
|
)
|
|
—
|
|
|
(57
|
)
|
|
—
|
|
|
Investment in unconsolidated affiliates
|
|
|
—
|
|
|
(60
|
)
|
|
(44
|
)
|
|
—
|
|
|
(104
|
)
|
|
Acquisition of a business, net of cash acquired
|
|
|
(66
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(66
|
)
|
|
Proceeds from sale of businesses/assets
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
|
Increase in receivable from affiliate
|
|
|
(48
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(48
|
)
|
|
Other, net
|
|
|
(2
|
)
|
|
—
|
|
|
4
|
|
|
—
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
|
|
(100
|
)
|
|
(134
|
)
|
|
(323
|
)
|
|
(57
|
)
|
|
(614
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments under revolving loan facilities
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
(4
|
)
|
|
Net borrowings on overdraft facilities
|
|
|
—
|
|
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
(9
|
)
|
|
Repayments of short-term debt
|
|
|
—
|
|
|
—
|
|
|
(18
|
)
|
|
—
|
|
|
(18
|
)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|
Repayments of long-term debt
|
|
|
(761
|
)
|
|
—
|
|
|
(79
|
)
|
|
—
|
|
|
(840
|
)
|
|
Proceeds from issuance of long-term debt
|
|
|
978
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
979
|
|
|
Proceeds from notes payable to affiliate
|
|
|
177
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
177
|
|
|
Repayments of notes payable
|
|
|
(33
|
)
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
(40
|
)
|
|
Borrowings on notes payable
|
|
|
33
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
35
|
|
|
Debt issuance costs paid
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11
|
)
|
|
Call premiums and other costs related to early extinguishment of debt
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
Contribution from parent
|
|
|
—
|
|
|
11
|
|
|
(24
|
)
|
|
13
|
|
|
—
|
|
|
Distribution to parent
|
|
|
—
|
|
|
(44
|
)
|
|
—
|
|
|
44
|
|
|
—
|
|
|
Dividends paid to parent
|
|
|
(96
|
)
|
|
(2
|
)
|
|
—
|
|
|
2
|
|
|
(96
|
)
|
|
Excess tax benefit related to stock-based compensation
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Other, net
|
|
|
4
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
288
|
|
|
(35
|
)
|
|
(124
|
)
|
|
59
|
|
|
188
|
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash and cash equivalents
|
|
|
301
|
|
|
(2
|
)
|
|
6
|
|
|
—
|
|
|
305
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
7
|
|
|
2
|
|
|
201
|
|
|
—
|
|
|
210
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
308
|
|
$
|
—
|
|
$
|
207
|
|
$
|
—
|
|
$
|
515
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|