Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Mar. 31, 2016

Components of other comprehensive income (loss)

Schedule of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component

The components of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

	Foreign currency translation adjustment(a)			Pension and other postretirement benefits adjustments(b)			Other comprehensive income of unconsolidated affiliates			Other, net		Total			Amounts attributable to noncontrolling interests			Amounts attributable to Huntsman Corporation
Beginning balance, January 1, 2016	$	(288	)	$	(1,056	)	$	11		$	17	$	(1,316	)	$	28		$	(1,288	)

Other comprehensive income (loss) before reclassifications, gross		17			—			(11	)		—		6			(2	)		4
Tax benefit		10			—			—			—		10			—			10
Amounts reclassified from accumulated other comprehensive loss, gross(c)		—			13			—			—		13			—			13
Tax benefit		—			—			—			—		—			—			—

Net current-period other comprehensive income (loss)		27			13			(11	)		—		29			(2	)		27

Ending balance, March 31, 2016	$	(261	)	$	(1,043	)	$	—		$	17	$	(1,287	)	$	26		$	(1,261	)


(a)	Amounts are net of tax of $80 and $90 as of March 31, 2016 and January 1, 2016, respectively.
(b)	Amounts are net of tax of $135 as of both March 31, 2016 and January 1, 2016.
(c)	See table below for details about these reclassifications.

	Foreign currency translation adjustment(a)			Pension and other postretirement benefits adjustments(b)			Other comprehensive income of unconsolidated affiliates			Other, net		Total			Amounts attributable to noncontrolling interests		Amounts attributable to Huntsman Corporation
Beginning balance, January 1, 2015	$	25		$	(1,122	)	$	10		$	11	$	(1,076	)	$	23	$	(1,053	)

Other comprehensive (loss) income before reclassifications, gross		(155	)		—			(1	)		—		(156	)		7		(149	)
Tax expense		(27	)		—			—			—		(27	)		—		(27	)
Amounts reclassified from accumulated other comprehensive loss, gross(c)		—			17			—			—		17			—		17
Tax expense		—			(4	)		—			—		(4	)		—		(4	)

Net current-period other comprehensive (loss) income		(182	)		13			(1	)		—		(170	)		7		(163	)

Ending balance, March 31, 2015	$	(157	)	$	(1,109	)	$	9		$	11	$	(1,246	)	$	30	$	(1,216	)


(a)	Amounts are net of tax of $74 and $47 as of March 31, 2015 and January 1, 2015, respectively.
(b)	Amounts are net of tax of $178 and $182 as of March 31, 2015 and January 1, 2015, respectively.
(c)	See table below for details about these reclassifications.

Schedule of details about reclassifications from accumulated other comprehensive loss

	Three months ended March 31,
	2016			2015
Details about Accumulated Other Comprehensive Loss Components(a):	Amount reclassified from accumulated other comprehensive loss			Amount reclassified from accumulated other comprehensive loss			Affected line item in the statement where net income is presented
Amortization of pension and other postretirement benefits:
Prior service credit	$	(4	)	$	(2	)	(b)
Actuarial loss		17			19		(b)(c)

		13			17		Total before tax
		—			(4	)	Income tax expense

Total reclassifications for the period	$	13		$	13		Net of tax


(a)	Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.
(b)	These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 9. Employee Benefit Plans."
(c)	Amounts contain approximately $1 million of actuarial losses related to discontinued operations for both three months ended March 31, 2016 and 2015.

Huntsman International

Components of other comprehensive income (loss)

Schedule of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component

The components of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

	Foreign currency translation adjustment(a)			Pension and other postretirement benefits adjustments(b)			Other comprehensive income of unconsolidated affiliates			Other, net		Total			Amounts attributable to noncontrolling interests			Amounts attributable to Huntsman International
Beginning balance, January 1, 2016	$	(292	)	$	(1,074	)	$	11		$	11	$	(1,344	)	$	28		$	(1,316	)

Other comprehensive income (loss) before reclassifications, gross		18			—			(11	)		—		7			(2	)		5
Tax benefit		10			—			—			—		10			—			10
Amounts reclassified from accumulated other comprehensive loss, gross(c)		—			15			—			—		15			—			15
Tax benefit		—			—			—			—		—			—			—

Net current-period other comprehensive income (loss)		28			15			(11	)		—		32			(2	)		30

Ending balance, March 31, 2016	$	(264	)	$	(1,059	)	$	—		$	11	$	(1,312	)	$	26		$	(1,286	)


(a)	Amounts are net of tax of $66 and $76 as of March 31, 2016 and January 1, 2016, respectively.
(b)	Amounts are net of tax of $163 as of both March 31, 2016 and January 1, 2016.
(c)	See table below for details about these reclassifications.

	Foreign currency translation adjustment(a)			Pension and other postretirement benefits adjustments(b)			Other comprehensive income of unconsolidated affiliates			Other, net		Total			Amounts attributable to noncontrolling interests		Amounts attributable to Huntsman International
Beginning balance, January 1, 2015	$	22		$	(1,147	)	$	10		$	5	$	(1,110	)	$	23	$	(1,087	)

Other comprehensive (loss) income before reclassifications, gross		(155	)		—			(1	)		—		(156	)		7		(149	)
Tax expense		(27	)		—			—			—		(27	)		—		(27	)
Amounts reclassified from accumulated other comprehensive loss, gross(c)		—			19			—			—		19			—		19
Tax expense		—			(4	)		—			—		(4	)		—		(4	)

Net current-period other comprehensive (loss) income		(182	)		15			(1	)		—		(168	)		7		(161	)

Ending balance, March 31, 2015	$	(160	)	$	(1,132	)	$	9		$	5	$	(1,278	)	$	30	$	(1,248	)


(a)	Amounts are net of tax of $61 and $34 as of March 31, 2015 and January 1, 2015, respectively.
(b)	Amounts are net of tax of $207 and $211 as of March 31, 2015 and January 1, 2015, respectively.
(c)	See table below for details about these reclassifications.

Schedule of details about reclassifications from accumulated other comprehensive loss

	Three months ended March 31,
	2016			2015
Details about Accumulated Other Comprehensive Loss Components(a):	Amount reclassified from accumulated other comprehensive loss			Amount reclassified from accumulated other comprehensive loss			Affected line item in the statement where net income is presented
Amortization of pension and other postretirement benefits:
Prior service credit	$	(4	)	$	(2	)	(b)
Actuarial loss		19			21		(b)(c)

		15			19		Total before tax
		—			(4	)	Income tax expense

Total reclassifications for the period	$	15		$	15		Net of tax


(a)	Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.
(b)	These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 9. Employee Benefit Plans."
(c)	Amounts contain approximately $1 million of actuarial losses related to discontinued operations for both three months ended March 31, 2016 and 2015.