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)

9 Months Ended

Sep. 30, 2016

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
	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
	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
	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
	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.