Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Trade sales, services and fees, net $ 2,512 $ 2,697 $ 4,833 $ 5,257
Related party sales 32 43 66 72
Total revenues 2,544 2,740 4,899 5,329
Cost of goods sold 2,087 2,191 4,026 4,330
Gross profit 457 549 873 999
Operating expenses:        
Selling, general and administrative 234 249 457 495
Research and development 39 41 76 83
Other operating income, net (21) (1) (16) (9)
Restructuring, impairment and plant closing costs 29 114 42 207
Total expenses 281 403 559 776
Operating income 176 146 314 223
Interest expense, net (50) (53) (100) (109)
Equity in income of investment in unconsolidated affiliates 2 3 3 5
Loss on early extinguishment of debt (2) (20) (2) (23)
Other income (loss) 1 (1) 2 (2)
Income from continuing operations before income taxes 127 75 217 94
Income tax expense (32) (34) (59) (36)
Income from continuing operations 95 41 158 58
Loss from discontinued operations, net of tax (1) (2) (2) (4)
Net income 94 39 156 54
Net income attributable to noncontrolling interests (7) (10) (13) (20)
Net income attributable to Huntsman Corporation or Huntsman International LLC $ 87 $ 29 $ 143 $ 34
Basic income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.37 $ 0.13 $ 0.62 $ 0.16
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)   (0.01) (0.01) (0.02)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.37 $ 0.12 $ 0.61 $ 0.14
Weighted average shares (in shares) 236.3 244.1 236.2 244.0
Diluted income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.36 $ 0.13 $ 0.61 $ 0.16
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)   (0.01) (0.01) (0.02)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.36 $ 0.12 $ 0.60 $ 0.14
Weighted average shares (in shares) 239.5 247.5 238.3 247.3
Amounts attributable to Huntsman Corporation common stockholders:        
Income from continuing operations $ 88 $ 31 $ 145 $ 38
Loss from discontinued operations, net of tax (1) (2) (2) (4)
Net income attributable to Huntsman Corporation or Huntsman International LLC $ 87 $ 29 $ 143 $ 34
Dividends per share (in dollars per share) $ 0.125 $ 0.125 $ 0.25 $ 0.25
Huntsman International        
Revenues:        
Trade sales, services and fees, net $ 2,512 $ 2,697 $ 4,833 $ 5,257
Related party sales 32 43 66 72
Total revenues 2,544 2,740 4,899 5,329
Cost of goods sold 2,086 2,191 4,024 4,328
Gross profit 458 549 875 1,001
Operating expenses:        
Selling, general and administrative 234 248 455 492
Research and development 39 41 76 83
Other operating income, net (21) (2) (16) (9)
Restructuring, impairment and plant closing costs 29 114 42 207
Total expenses 281 401 557 773
Operating income 177 148 318 228
Interest expense, net (53) (56) (106) (114)
Equity in income of investment in unconsolidated affiliates 2 3 3 5
Loss on early extinguishment of debt (2) (20) (2) (23)
Other income (loss) 1   2 (1)
Income from continuing operations before income taxes 125 75 215 95
Income tax expense (31) (34) (58) (37)
Income from continuing operations 94 41 157 58
Loss from discontinued operations, net of tax (1) (2) (2) (4)
Net income 93 39 155 54
Net income attributable to noncontrolling interests (7) (10) (13) (20)
Net income attributable to Huntsman Corporation or Huntsman International LLC 86 29 142 34
Amounts attributable to Huntsman Corporation common stockholders:        
Net income attributable to Huntsman Corporation or Huntsman International LLC $ 86 $ 29 $ 142 $ 34