Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities:    
Net income $ 62 $ 15
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (1) (2)
Depreciation and amortization 100 95
Loss on early extinguishment of debt   (3)
Noncash interest expense 4 4
Noncash restructuring and impairment charges 5 29
Deferred income taxes 6 (33)
Noncash gain on foreign currency transactions   (6)
Stock-based compensation 8 9
Other, net 2 1
Changes in operating assets and liabilities, net of effects of acquisitions :    
Accounts and notes receivable (105) (49)
Inventories 22 54
Prepaid expenses 2 3
Other current assets 33 25
Other noncurrent assets (20) (90)
Accounts payable (31) (2)
Accrued liabilities   (3)
Other noncurrent liabilities 1 (19)
Net cash provided by operating activities 88 34
Investing Activities:    
Capital expenditures (99) (149)
Cash received from unconsolidated affiliates 10 15
Investment in unconsolidated affiliates (12) (13)
Cash received from termination of cross-currency interest rate contracts   66
Change in restricted cash 2  
Other, net (2)  
Net cash used in investing activities (101) (81)
Financing Activities:    
Net borrowings under revolving loan facilities 45  
Net repayments on overdraft facilities   (2)
Repayments of short-term debt (12) (17)
Borrowings on short-term debt 4  
Repayments of long-term debt (27) (59)
Proceeds from issuance of long-term debt   326
Repayments of notes payable (9) (9)
Borrowings on notes payable 2  
Debt issuance costs paid   (4)
Call premiums related to early extinguishment of debt   (3)
Contingent consideration paid for acquisition   (4)
Dividends paid to common stockholders (30) (31)
Dividends paid to noncontrolling interests (9)  
Repurchase and cancellation of stock awards (2) (7)
Excess tax benefit related to stock-based compensation   1
Other, net   (2)
Net cash (used in) provided by financing activities (38) 189
Effect of exchange rate changes on cash 2 (8)
(Decrease) increase in cash and cash equivalents (49) 134
Cash and cash equivalents at beginning of period 257 [1] 860
Cash and cash equivalents at end of period 208 [1] 994
Supplemental cash flow information:    
Cash paid for interest 35 48
Cash paid for income taxes 5 11
Huntsman International    
Operating Activities:    
Net income 62 15
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (1) (2)
Depreciation and amortization 97 92
Loss on early extinguishment of debt   (3)
Noncash interest expense 7 6
Noncash restructuring and impairment charges 5 29
Deferred income taxes 6 (33)
Noncash gain on foreign currency transactions   (6)
Noncash compensation 7 8
Other, net 2 3
Changes in operating assets and liabilities, net of effects of acquisitions :    
Accounts and notes receivable (105) (49)
Inventories 22 54
Prepaid expenses 3 4
Other current assets 32 25
Other noncurrent assets (20) (90)
Accounts payable (33) (4)
Accrued liabilities   (3)
Other noncurrent liabilities 3 (17)
Net cash provided by operating activities 87 35
Investing Activities:    
Capital expenditures (99) (149)
Cash received from unconsolidated affiliates 10 15
Investment in unconsolidated affiliates (12) (13)
Increase in receivable from affiliate (2) (6)
Cash received from termination of cross-currency interest rate contracts   66
Change in restricted cash 2  
Other, net (1)  
Net cash used in investing activities (102) (87)
Financing Activities:    
Net borrowings under revolving loan facilities 45  
Net repayments on overdraft facilities   (2)
Repayments of short-term debt (12) (17)
Borrowings on short-term debt 4  
Repayments of long-term debt (27) (59)
Proceeds from issuance of long-term debt   326
Repayments of notes payable to affiliate   (50)
Repayments of notes payable (9) (9)
Borrowings on notes payable 2  
Debt issuance costs paid   (4)
Call premiums related to early extinguishment of debt   (3)
Contingent consideration paid for acquisition   (4)
Dividends paid to noncontrolling interests (9)  
Dividends paid to parent (30) (31)
Excess tax benefit related to stock-based compensation   1
Other, net   (2)
Net cash (used in) provided by financing activities (36) 146
Effect of exchange rate changes on cash 2 (8)
(Decrease) increase in cash and cash equivalents (49) 86
Cash and cash equivalents at beginning of period 257 [1] 710
Cash and cash equivalents at end of period 208 [1] 796
Supplemental cash flow information:    
Cash paid for interest 35 48
Cash paid for income taxes $ 5 $ 11
[1] At March 31, 2016 and December 31, 2015, respectively, $21 and $34 of cash and cash equivalents, $10 and $12 of restricted cash, $30 and $26 of accounts and notes receivable (net), $37 and $54 of inventories, $5 each of other current assets, $303 and $307 of property, plant and equipment (net), $37 and $36 of intangible assets (net), $42 and $38 of other noncurrent assets, $77 and $82 of accounts payable, $30 and $27 of accrued liabilities, $17 and $15 of current portion of debt, $123 and $137 of longterm debt, and $54 each of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 4. Variable Interest Entities.”