Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

v3.5.0.2
OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
9 Months Ended
Sep. 30, 2016
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 (loss) income before reclassifications, gross                                

 

 

(18

)

 

 

 

(8

)

 

6

 

 

(20

)

 

 

 

(20

)

Tax benefit

 

 

7

 

 

 

 

 

 

 

 

7

 

 

 

 

7

 

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 

 

40

 

 

 

 

 

 

40

 

 

 

 

40

 

Tax expense

 

 

 

 

(5

)

 

 

 

 

 

(5

)

 

 

 

(5

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(11

)

 

35

 

 

(8

)

 

6

 

 

22

 

 

 

 

22

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2016

 

$

(299

)

$

(1,021

)

$

3

 

$

23

 

$

(1,294

)

$

28

 

$

(1,266

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $83 and $90 as of September 30, 2016 and January 1, 2016, respectively.

(b)          

Amounts are net of tax of $130 and $135 as of September 30, 2016 and January 1, 2016, respectively.

(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                                

 

 

(219

)

 

(5

)

 

(1

)

 

4

 

 

(221

)

 

7

 

 

(214

)

Tax expense

 

 

(19

)

 

 

 

 

 

 

 

(19

)

 

 

 

(19

)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 

 

52

 

 

 

 

 

 

52

 

 

 

 

52

 

Tax expense

 

 

 

 

(11

)

 

 

 

 

 

(11

)

 

 

 

(11

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(238

)

 

36

 

 

(1

)

 

4

 

 

(199

)

 

7

 

 

(192

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2015

 

$

(213

)

$

(1,086

)

$

9

 

$

15

 

$

(1,275

)

$

30

 

$

(1,245

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $66 and $47 as of September 30, 2015 and January 1, 2015, respectively.

(b)          

Amounts are net of tax of $171 and $182 as of September 30, 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
September 30, 2016

 

Nine months ended
September 30, 2016

 

 

 

 

Affected line item in
the statement where
net income is
presented

Details about Accumulated Other
Comprehensive Loss Components(a):

 

Amounts reclassified
from accumulated other
comprehensive loss

 

Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

 

 

 

 

 

 

 

 

Prior service credit

 

$

(4

)

$

(12

)

(b)

Actuarial loss

 

 

17

 

 

52

 

(b)(c)

​  

​  

​  

​  

 

 

 

13

 

 

40

 

Total before tax

 

 

 

(2

)

 

(5

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

11

 

$

35

 

Net of tax

​  

​  

​  

​  

​  

​  

​  

​  

                                                                                                                                                                                    

 

 

Three months ended September 30, 2015

 

Nine months ended September 30, 2015

 

 

 

 

Affected line item in
the statement where
net income is
presented

Details about Accumulated Other
Comprehensive Loss Components(a):

 

Amounts reclassified
from accumulated other
comprehensive loss

 

Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

 

 

 

 

 

 

 

 

Prior service credit

 

$

(3

)

$

(7

)

(b)

Actuarial loss

 

 

20

 

 

59

 

(b)(c)

​  

​  

​  

​  

Settlement loss

 

 

17

 

 

52

 

Total before tax

 

 

 

(3

)

 

(11

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

14

 

$

41

 

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 nil and $2 million of actuarial losses related to discontinued operations for each of the three months ended September 30, 2016 and 2015, respectively, and $2 million and $4 million of actuarial losses related to discontinued operations for each of the nine months ended September 30, 2016 and 2015, respectively.

 

Huntsman International  
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 (loss) income before reclassifications, gross                                

 

 

(18

)

 

 

 

(8

)

 

6

 

 

(20

)

 

 

 

(20

)

Tax benefit

 

 

7

 

 

 

 

 

 

 

 

7

 

 

 

 

7

 

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 

 

46

 

 

 

 

 

 

46

 

 

 

 

46

 

Tax expense

 

 

 

 

(6

)

 

 

 

 

 

(6

)

 

 

 

(6

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(11

)

 

40

 

 

(8

)

 

6

 

 

27

 

 

 

 

27

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2016

 

$

(303

)

$

(1,034

)

$

3

 

$

17

 

$

(1,317

)

$

28

 

$

(1,289

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $69 and $76 as of September 30, 2016 and January 1, 2016, respectively.

(b)          

Amounts are net of tax of $157 and $163 as of September 30, 2016 and January 1, 2016, respectively.

(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                                

 

 

(219

)

 

(5

)

 

(1

)

 

4

 

 

(221

)

 

7

 

 

(214

)

Tax expense

 

 

(19

)

 

 

 

 

 

 

 

(19

)

 

 

 

(19

)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 

 

58

 

 

 

 

 

 

58

 

 

 

 

58

 

Tax expense

 

 

 

 

(12

)

 

 

 

 

 

(12

)

 

 

 

(12

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net current-period other comprehensive (loss) income

 

 

(238

)

 

41

 

 

(1

)

 

4

 

 

(194

)

 

7

 

 

(187

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Ending balance, September 30, 2015

 

$

(216

)

$

(1,106

)

$

9

 

$

9

 

$

(1,304

)

$

30

 

$

(1,274

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

(a)          

Amounts are net of tax of $53 and $34 as of September 30, 2015 and January 1, 2015, respectively.

(b)          

Amounts are net of tax of $200 and $211 as of September 30, 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
September 30, 2016

 

Nine months ended
September 30, 2016

 

 

 

 

Affected line item in
the statement where
net income is
presented

Details about Accumulated Other
Comprehensive Loss Components(a):

 

Amounts reclassified
from accumulated other
comprehensive loss

 

Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

 

 

 

 

 

 

 

 

Prior service credit

 

$

(4

)

$

(12

)

(b)

Actuarial loss

 

 

20

 

 

58

 

(b)(c)

​  

​  

​  

​  

 

 

 

16

 

 

46

 

Total before tax

 

 

 

(2

)

 

(6

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

14

 

$

40

 

Net of tax

​  

​  

​  

​  

​  

​  

​  

​  

 

                                                                                                                                                                                    

 

 

Three months ended
September 30, 2015

 

Nine months ended
September 30, 2015

 

 

 

 

Affected line item in
the statement where
net income is
presented

Details about Accumulated Other
Comprehensive Loss Components(a):

 

Amounts reclassified
from accumulated other
comprehensive loss

 

Amounts reclassified
from accumulated other
comprehensive loss

Amortization of pension and other postretirement benefits:

 

 

 

 

 

 

 

 

Prior service credit

 

$

(3

)

$

(7

)

(b)

Actuarial loss

 

 

22

 

 

65

 

(b)(c)

​  

​  

​  

​  

 

 

 

19

 

 

58

 

Total before tax

 

 

 

(4

)

 

(12

)

Income tax expense

​  

​  

​  

​  

Total reclassifications for the period

 

$

15

 

$

46

 

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 nil and $2 million of actuarial losses related to discontinued operations for each of the three months ended September 30, 2016 and 2015, respectively, and $2 million and $4 million of actuarial losses related to discontinued operations for each of the nine months ended September 30, 2016 and 2015, respectively.