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
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities:    
Net income $ 156 $ 54
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (3) (5)
Depreciation and amortization 209 194
Loss on disposal of businesses/assets, net 2  
Loss on early extinguishment of debt 2 23
Noncash interest expense 8 8
Noncash restructuring and impairment charges 9 85
Deferred income taxes 52 (59)
Noncash gain on foreign currency transactions   (4)
Stock-based compensation 17 17
Portion of insurance proceeds representing cash provided by investing activities (8)  
Other, net (1) 4
Changes in operating assets and liabilities, net of effects of acquisitions :    
Accounts and notes receivable (90) (142)
Inventories 177 7
Prepaid expenses 14 14
Other current assets 22 62
Other noncurrent assets (36) (99)
Accounts payable (56) 12
Accrued liabilities (39) 31
Other noncurrent liabilities 8 (21)
Net cash provided by operating activities 443 181
Investing Activities:    
Capital expenditures (189) (296)
Insurance proceeds for recovery of property damage 8  
Cash received from unconsolidated affiliates 19 25
Investment in unconsolidated affiliates (14) (32)
Acquisition of business, net of cash acquired   (15)
Cash received from purchase price adjustment for business acquired   18
Proceeds from sale of businesses/assets   1
Cash received from termination of cross-currency interest rate contracts   66
Change in restricted cash 2  
Net cash used in investing activities (174) (233)
Financing Activities:    
Net repayments on overdraft facilities (1) (2)
Repayments of short-term debt (18) (17)
Borrowings on short-term debt 6  
Repayments of long-term debt (582) (388)
Proceeds from issuance of long-term debt 547 326
Repayments of notes payable (16) (15)
Borrowings on notes payable 2 1
Debt issuance costs paid (8) (5)
Call premiums related to early extinguishment of debt   (26)
Contingent consideration paid for acquisition   (4)
Dividends paid to common stockholders (60) (62)
Dividends paid to noncontrolling interests (21) (4)
Repurchase and cancellation of stock awards (2) (7)
Proceeds from issuance of common stock   1
Excess tax benefit related to stock-based compensation   1
Other, net   (1)
Net cash used in financing activities (153) (202)
Effect of exchange rate changes on cash   (7)
Increase (decrease) in cash and cash equivalents 116 (261)
Cash and cash equivalents at beginning of period 257 [1] 860
Cash and cash equivalents at end of period 373 [1] 599
Supplemental cash flow information:    
Cash paid for interest 103 115
Cash paid for income taxes 21 30
Huntsman International    
Operating Activities:    
Net income 155 54
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (3) (5)
Depreciation and amortization 203 187
Loss on disposal of businesses/assets, net 2  
Loss on early extinguishment of debt 2 23
Noncash interest expense 13 12
Noncash restructuring and impairment charges 9 85
Deferred income taxes 53 (59)
Noncash gain on foreign currency transactions   (4)
Noncash compensation 16 16
Portion of insurance proceeds representing cash provided by investing activities (8)  
Other, net (1) 6
Changes in operating assets and liabilities, net of effects of acquisitions :    
Accounts and notes receivable (90) (142)
Inventories 177 7
Prepaid expenses 15 15
Other current assets 22 55
Other noncurrent assets (36) (99)
Accounts payable (62) 8
Accrued liabilities (38) 39
Other noncurrent liabilities 12 (17)
Net cash provided by operating activities 441 181
Investing Activities:    
Capital expenditures (189) (296)
Insurance proceeds for recovery of property damage 8  
Cash received from unconsolidated affiliates 19 25
Investment in unconsolidated affiliates (14) (32)
Acquisition of business, net of cash acquired   (15)
Cash received from purchase price adjustment for business acquired   18
Proceeds from sale of businesses/assets   1
Increase in receivable from affiliate   (4)
Cash received from termination of cross-currency interest rate contracts   66
Change in restricted cash 2  
Net cash used in investing activities (174) (237)
Financing Activities:    
Net repayments on overdraft facilities (1) (2)
Repayments of short-term debt (18) (17)
Borrowings on short-term debt 6  
Repayments of long-term debt (582) (388)
Proceeds from issuance of long-term debt 547 326
Repayments of notes payable to affiliate (1) (50)
Proceeds from issuance of notes payable from affiliate   195
Repayments of notes payable (16) (15)
Borrowings on notes payable 2 1
Debt issuance costs paid (8) (5)
Call premiums related to early extinguishment of debt   (26)
Contingent consideration paid for acquisition   (4)
Dividends paid to noncontrolling interests (21) (4)
Dividends paid to parent (60) (61)
Excess tax benefit related to stock-based compensation   1
Other, net 1 (1)
Net cash used in financing activities (151) (50)
Effect of exchange rate changes on cash   (7)
Increase (decrease) in cash and cash equivalents 116 (113)
Cash and cash equivalents at beginning of period 257 [1] 710
Cash and cash equivalents at end of period 373 [1] 597
Supplemental cash flow information:    
Cash paid for interest 103 115
Cash paid for income taxes $ 21 $ 30
[1] At June 30, 2016 and December 31, 2015, respectively, $25 and $34 of cash and cash equivalents, $10 and $12 of restricted cash, $29 and $26 of accounts and notes receivable (net), $39 and $54 of inventories, $5 each of other current assets, $295 and $307 of property, plant and equipment (net), $34 and $36 of intangible assets (net), $43 and $38 of other noncurrent assets, $76 and $82 of accounts payable, $33 and $27 of accrued liabilities, $19 and $15 of current portion of debt, $123 and $137 of longterm debt, and $55 and $54 of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 4. Variable Interest Entities.”