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

OPERATING SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2016

Segment		Products
Polyurethanes		MDI, PO, polyols, PG, TPU, aniline and MTBE
Performance Products		amines, surfactants, LAB, maleic anhydride, other performance chemicals, EG, olefins and technology licenses
Advanced Materials		basic liquid and solid epoxy resins; specialty resin compounds; cross-linking, matting and curing agents; epoxy, acrylic and polyurethane-based formulations
Textile Effects		textile chemicals, dyes and inks
Pigments and Additives		titanium dioxide, functional additives, color pigments, timber treatment and water treatment chemicals

The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions):

	Three months ended March 31,
	2016			2015
Revenues:
Polyurethanes	$	836		$	890
Performance Products		536			656
Advanced Materials		266			290
Textile Effects		185			206
Pigments and Additives		540			572
Corporate and eliminations		(8	)		(25	)

Total	$	2,355		$	2,589


Huntsman Corporation:
Segment EBITDA(1):
Polyurethanes	$	123		$	93
Performance Products		90			118
Advanced Materials		57			55
Textile Effects		15			11
Pigments and Additives		(8	)		(75	)
Corporate and other(2)		(43	)		(42	)

Subtotal		234			160
Discontinued Operations(3)		(2	)		(1	)

Total		232			159
Interest expense, net		(50	)		(56	)
Income tax expense—continuing operations		(27	)		(2	)
Income tax benefit (expense)—discontinued operations		1			(1	)
Depreciation and amortization		(100	)		(95	)

Net income attributable to Huntsman Corporation	$	56		$	5


(1)	Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items.
(2)	Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense, benzene sales and gains and losses on the disposition of corporate assets.
(3)	The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.

	Three months ended March 31,
	2016			2015
Huntsman International:
Segment EBITDA(1):
Polyurethanes	$	123		$	93
Performance Products		90			118
Advanced Materials		57			55
Textile Effects		15			11
Pigments and Additives		(8	)		(75	)
Corporate and other(2)		(43	)		(42	)

Subtotal		234			160
Discontinued Operations(3)		(2	)		(1	)

Total		232			159
Interest expense, net		(53	)		(58	)
Income tax expense—continuing operations		(27	)		(3	)
Income tax benefit (expense)—discontinued operations		1			(1	)
Depreciation and amortization		(97	)		(92	)

Net income attributable to Huntsman International	$	56		$	5


(1)	Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items.
(2)	Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense, benzene sales and gains and losses on the disposition of corporate assets.
(3)	The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.