Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (Tables)

v3.5.0.2
CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (Tables) - Huntsman International
9 Months Ended
Sep. 30, 2016
CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC  
CONDENSED CONSOLIDATING BALANCE SHEETS

 

CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF SEPTEMBER 30, 2016
(In Millions)

                                                                                                                                                                                                                                           

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

99

 

$

1

 

$

339

 

$

 

$

439

 

Restricted cash

 

 

 

 

 

 

11

 

 

 

 

11

 

Accounts and notes receivable, net

 

 

29

 

 

71

 

 

1,353

 

 

3

 

 

1,456

 

Accounts receivable from affiliates

 

 

1,667

 

 

4,660

 

 

190

 

 

(6,192

)

 

325

 

Inventories

 

 

88

 

 

274

 

 

1,087

 

 

(5

)

 

1,444

 

Prepaid expenses

 

 

14

 

 

15

 

 

59

 

 

(14

)

 

74

 

Current assets held for sale

 

 

 

 

 

 

31

 

 

 

 

31

 

Other current assets

 

 

839

 

 

23

 

 

182

 

 

(731

)

 

313

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current assets

 

 

2,736

 

 

5,044

 

 

3,252

 

 

(6,939

)

 

4,093

 

Property, plant and equipment, net

 

 

455

 

 

1,423

 

 

2,392

 

 

1

 

 

4,271

 

Investment in unconsolidated affiliates

 

 

6,132

 

 

1,796

 

 

255

 

 

(7,846

)

 

337

 

Intangible assets, net

 

 

29

 

 

3

 

 

65

 

 

 

 

97

 

Goodwill

 

 

(13

)

 

82

 

 

54

 

 

 

 

123

 

Deferred income taxes

 

 

477

 

 

 

 

416

 

 

(489

)

 

404

 

Notes receivable from affiliates

 

 

37

 

 

551

 

 

 

 

(588

)

 

 

Noncurrent assets held for sale

 

 

 

 

 

 

90

 

 

 

 

90

 

Other noncurrent assets

 

 

64

 

 

203

 

 

308

 

 

 

 

575

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total assets

 

$

9,917

 

$

9,102

 

$

6,832

 

$

(15,861

)

$

9,990

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

48

 

$

181

 

$

766

 

$

4

 

$

999

 

Accounts payable to affiliates

 

 

3,617

 

 

839

 

 

1,795

 

 

(6,192

)

 

59

 

Accrued liabilities

 

 

92

 

 

822

 

 

484

 

 

(746

)

 

652

 

Note payable to affiliate

 

 

100

 

 

 

 

 

 

 

 

100

 

Current portion of debt

 

 

38

 

 

 

 

50

 

 

 

 

88

 

Current liabilities held for sale

 

 

 

 

 

 

20

 

 

 

 

20

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current liabilities

 

 

3,895

 

 

1,842

 

 

3,115

 

 

(6,934

)

 

1,918

 

Long-term debt

 

 

4,091

 

 

 

 

377

 

 

 

 

4,468

 

Notes payable to affiliates

 

 

696

 

 

 

 

589

 

 

(588

)

 

697

 

Deferred income taxes

 

 

24

 

 

318

 

 

48

 

 

78

 

 

468

 

Noncurrent liabilities held for sale

 

 

 

 

 

 

10

 

 

 

 

10

 

Other noncurrent liabilities

 

 

160

 

 

264

 

 

771

 

 

 

 

1,195

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities

 

 

8,866

 

 

2,424

 

 

4,910

 

 

(7,444

)

 

8,756

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huntsman International LLC members' equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members' equity

 

 

3,217

 

 

4,499

 

 

3,417

 

 

(7,916

)

 

3,217

 

Accumulated (deficit) income

 

 

(877

)

 

731

 

 

(375

)

 

(356

)

 

(877

)

Accumulated other comprehensive (loss) income

 

 

(1,289

)

 

1,448

 

 

(1,279

)

 

(169

)

 

(1,289

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total Huntsman International LLC members' equity                   

 

 

1,051

 

 

6,678

 

 

1,763

 

 

(8,441

)

 

1,051

 

Noncontrolling interests in subsidiaries

 

 

 

 

 

 

159

 

 

24

 

 

183

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total equity

 

 

1,051

 

 

6,678

 

 

1,922

 

 

(8,417

)

 

1,234

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities and equity

 

$

9,917

 

$

9,102

 

$

6,832

 

$

(15,861

)

$

9,990

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

44

 

$

1

 

$

212

 

$

 

$

257

 

Restricted cash

 

 

 

 

 

 

12

 

 

 

 

12

 

Accounts and notes receivable, net

 

 

21

 

 

96

 

 

1,298

 

 

5

 

 

1,420

 

Accounts receivable from affiliates

 

 

2,163

 

 

4,730

 

 

163

 

 

(6,716

)

 

340

 

Inventories

 

 

101

 

 

322

 

 

1,275

 

 

(6

)

 

1,692

 

Prepaid expenses

 

 

49

 

 

31

 

 

91

 

 

(60

)

 

111

 

Other current assets

 

 

790

 

 

8

 

 

212

 

 

(704

)

 

306

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current assets

 

 

3,168

 

 

5,188

 

 

3,263

 

 

(7,481

)

 

4,138

 

Property, plant and equipment, net

 

 

473

 

 

1,433

 

 

2,503

 

 

1

 

 

4,410

 

Investment in unconsolidated affiliates

 

 

5,991

 

 

1,558

 

 

263

 

 

(7,465

)

 

347

 

Intangible assets, net

 

 

32

 

 

3

 

 

51

 

 

 

 

86

 

Goodwill

 

 

(13

)

 

82

 

 

47

 

 

 

 

116

 

Deferred income taxes

 

 

473

 

 

 

 

430

 

 

(485

)

 

418

 

Notes receivable from affiliates

 

 

36

 

 

539

 

 

6

 

 

(581

)

 

 

Other noncurrent assets

 

 

71

 

 

223

 

 

279

 

 

 

 

573

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total assets

 

$

10,231

 

$

9,026

 

$

6,842

 

$

(16,011

)

$

10,088

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

50

 

$

207

 

$

772

 

$

5

 

$

1,034

 

Accounts payable to affiliates

 

 

3,905

 

 

973

 

 

1,891

 

 

(6,717

)

 

52

 

Accrued liabilities

 

 

74

 

 

793

 

 

581

 

 

(765

)

 

683

 

Note payable to affiliate

 

 

100

 

 

 

 

 

 

 

 

100

 

Current portion of debt

 

 

89

 

 

 

 

81

 

 

 

 

170

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current liabilities

 

 

4,218

 

 

1,973

 

 

3,325

 

 

(7,477

)

 

2,039

 

Long-term debt

 

 

4,229

 

 

 

 

396

 

 

 

 

4,625

 

Notes payable to affiliates

 

 

703

 

 

 

 

576

 

 

(581

)

 

698

 

Deferred income taxes

 

 

24

 

 

276

 

 

36

 

 

82

 

 

418

 

Other noncurrent liabilities

 

 

160

 

 

241

 

 

819

 

 

4

 

 

1,224

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities

 

 

9,334

 

 

2,490

 

 

5,152

 

 

(7,972

)

 

9,004

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huntsman International LLC members' equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members' equity

 

 

3,196

 

 

4,517

 

 

3,394

 

 

(7,911

)

 

3,196

 

Accumulated (deficit) income

 

 

(983

)

 

652

 

 

(557

)

 

(95

)

 

(983

)

Accumulated other comprehensive (loss) income

 

 

(1,316

)

 

1,367

 

 

(1,311

)

 

(56

)

 

(1,316

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total Huntsman International LLC members' equity

 

 

897

 

 

6,536

 

 

1,526

 

 

(8,062

)

 

897

 

Noncontrolling interests in subsidiaries

 

 

 

 

 

 

164

 

 

23

 

 

187

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total equity

 

 

897

 

 

6,536

 

 

1,690

 

 

(8,039

)

 

1,084

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities and equity

 

$

10,231

 

$

9,026

 

$

6,842

 

$

(16,011

)

$

10,088

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS)
THREE MONTHS ENDED SEPTEMBER 30, 2016
(In Millions)

                                                                                                                                                                                                                                                  

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

264

 

$

528

 

$

1,542

 

$

 

$

2,334

 

Related party sales

 

 

45

 

 

37

 

 

263

 

 

(316

)

 

29

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

309

 

 

565

 

 

1,805

 

 

(316

)

 

2,363

 

Cost of goods sold

 

 

249

 

 

500

 

 

1,529

 

 

(314

)

 

1,964

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

60

 

 

65

 

 

276

 

 

(2

)

 

399

 

Selling, general and administrative

 

 

33

 

 

37

 

 

150

 

 

 

 

220

 

Research and development

 

 

13

 

 

11

 

 

14

 

 

 

 

38

 

Other operating expense (income), net

 

 

3

 

 

(8

)

 

(19

)

 

 

 

(24

)

Restructuring, impairment and plant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

closing costs

 

 

2

 

 

11

 

 

32

 

 

 

 

45

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income

 

 

9

 

 

14

 

 

99

 

 

(2

)

 

120

 

Interest (expense) income

 

 

(54

)

 

6

 

 

(7

)

 

 

 

(55

)

Equity in income of investment in affiliates and subsidiaries

 

 

82

 

 

81

 

 

1

 

 

(163

)

 

1

 

Loss on early extinguishment of debt

 

 

(1

)

 

 

 

 

 

 

 

(1

)

Dividend income

 

 

1

 

 

 

 

 

 

(1

)

 

 

Other (loss) income, net

 

 

(3

)

 

 

 

2

 

 

 

 

(1

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations before income taxes

 

 

34

 

 

101

 

 

95

 

 

(166

)

 

64

 

Income tax benefit (expense)

 

 

20

 

 

(11

)

 

(9

)

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations

 

 

54

 

 

90

 

 

86

 

 

(166

)

 

64

 

Loss from discontinued operations, net of tax

 

 

 

 

 

 

(1

)

 

 

 

(1

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

 

54

 

 

90

 

 

85

 

 

(166

)

 

63

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(5

)

 

(4

)

 

(9

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income attributable to Huntsman International LLC

 

$

54

 

$

90

 

$

80

 

$

(170

)

$

54

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

$

54

 

$

90

 

$

85

 

$

(166

)

$

63

 

Other comprehensive income

 

 

32

 

 

7

 

 

32

 

 

(39

)

 

32

 

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(5

)

 

(4

)

 

(9

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income attributable to Huntsman International LLC

 

$

86

 

$

97

 

$

112

 

$

(209

)

$

86

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS)
THREE MONTHS ENDED SEPTEMBER 30, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

270

 

$

674

 

$

1,661

 

$

 

$

2,605

 

Related party sales

 

 

62

 

 

117

 

 

261

 

 

(407

)

 

33

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

332

 

 

791

 

 

1,922

 

 

(407

)

 

2,638

 

Cost of goods sold

 

 

270

 

 

598

 

 

1,701

 

 

(405

)

 

2,164

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

62

 

 

193

 

 

221

 

 

(2

)

 

474

 

Selling, general and administrative

 

 

44

 

 

37

 

 

150

 

 

 

 

231

 

Research and development

 

 

13

 

 

11

 

 

17

 

 

 

 

41

 

Other operating expense (income), net

 

 

14

 

 

(10

)

 

13

 

 

 

 

17

 

Restructuring, impairment and plant closing costs

 

 

3

 

 

1

 

 

10

 

 

 

 

14

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating (loss) income

 

 

(12

)

 

154

 

 

31

 

 

(2

)

 

171

 

Interest (expense) income

 

 

(55

)

 

9

 

 

(5

)

 

 

 

(51

)

Equity in income (loss) of investment in affiliates and subsidiaries

 

 

101

 

 

(7

)

 

 

 

(94

)

 

 

Loss on early extinguishment of debt

 

 

(8

)

 

 

 

 

 

 

 

(8

)

Other income (loss), net

 

 

1

 

 

(1

)

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations before income taxes

 

 

27

 

 

155

 

 

26

 

 

(96

)

 

112

 

Income tax benefit (expense)

 

 

29

 

 

(49

)

 

(28

)

 

 

 

(48

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations

 

 

56

 

 

106

 

 

(2

)

 

(96

)

 

64

 

Loss from discontinued operations, net of tax

 

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

 

56

 

 

106

 

 

(2

)

 

(96

)

 

64

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(5

)

 

(3

)

 

(8

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Huntsman International LLC

 

$

56

 

$

106

 

$

(7

)

$

(99

)

$

56

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

$

56

 

$

106

 

$

(2

)

$

(96

)

$

64

 

Other comprehensive loss

 

 

(84

)

 

(137

)

 

(93

)

 

228

 

 

(86

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(3

)

 

(3

)

 

(6

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive loss attributable to Huntsman International LLC

 

$

(28

)

$

(31

)

$

(98

)

$

129

 

$

(28

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS)
NINE MONTHS ENDED SEPTEMBER 30, 2016
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

787

 

$

1,717

 

$

4,663

 

$

 

$

7,167

 

Related party sales

 

 

139

 

 

247

 

 

811

 

 

(1,102

)

 

95

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

926

 

 

1,964

 

 

5,474

 

 

(1,102

)

 

7,262

 

Cost of goods sold

 

 

726

 

 

1,658

 

 

4,706

 

 

(1,102

)

 

5,988

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

200

 

 

306

 

 

768

 

 

 

 

1,274

 

Selling, general and administrative

 

 

117

 

 

119

 

 

439

 

 

 

 

675

 

Research and development

 

 

35

 

 

33

 

 

46

 

 

 

 

114

 

Other operating expense (income), net

 

 

11

 

 

(25

)

 

(26

)

 

 

 

(40

)

Restructuring, impairment and plant closing costs

 

 

5

 

 

30

 

 

52

 

 

 

 

87

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income

 

 

32

 

 

149

 

 

257

 

 

 

 

438

 

Interest (expense) income

 

 

(165

)

 

23

 

 

(19

)

 

 

 

(161

)

Equity in income of investment in affiliates and subsidiaries

 

 

67

 

 

184

 

 

4

 

 

(251

)

 

4

 

Loss on early extinguishment of debt

 

 

(3

)

 

 

 

 

 

 

 

(3

)

Dividend income

 

 

217

 

 

 

 

 

 

(217

)

 

 

Other (loss) income, net

 

 

(3

)

 

8

 

 

(4

)

 

 

 

1

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations before income taxes

 

 

145

 

 

364

 

 

238

 

 

(468

)

 

279

 

Income tax benefit (expense)

 

 

50

 

 

(67

)

 

(41

)

 

 

 

(58

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations

 

 

195

 

 

297

 

 

197

 

 

(468

)

 

221

 

Income (loss) from discontinued operations, net of tax

 

 

1

 

 

(1

)

 

(3

)

 

 

 

(3

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

 

196

 

 

296

 

 

194

 

 

(468

)

 

218

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(11

)

 

(11

)

 

(22

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income attributable to Huntsman International LLC

 

$

196

 

$

296

 

$

183

 

$

(479

)

$

196

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

$

196

 

$

296

 

$

194

 

$

(468

)

$

218

 

Other comprehensive income

 

 

27

 

 

83

 

 

35

 

 

(118

)

 

27

 

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(11

)

 

(11

)

 

(22

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income attributable to Huntsman International LLC

 

$

223

 

$

379

 

$

218

 

$

(597

)

$

223

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS)
NINE MONTHS ENDED SEPTEMBER 30, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

795

 

$

1,911

 

$

5,156

 

$

 

$

7,862

 

Related party sales

 

 

201

 

 

376

 

 

818

 

 

(1,290

)

 

105

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

996

 

 

2,287

 

 

5,974

 

 

(1,290

)

 

7,967

 

Cost of goods sold

 

 

789

 

 

1,771

 

 

5,220

 

 

(1,288

)

 

6,492

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

207

 

 

516

 

 

754

 

 

(2

)

 

1,475

 

Selling, general and administrative

 

 

128

 

 

133

 

 

462

 

 

 

 

723

 

Research and development

 

 

35

 

 

33

 

 

56

 

 

 

 

124

 

Other operating (income) expense, net

 

 

(15

)

 

(20

)

 

43

 

 

 

 

8

 

Restructuring, impairment and plant closing costs

 

 

4

 

 

5

 

 

212

 

 

 

 

221

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income (loss)

 

 

55

 

 

365

 

 

(19

)

 

(2

)

 

399

 

Interest (expense) income

 

 

(168

)

 

25

 

 

(22

)

 

 

 

(165

)

Equity in income (loss) of investment in affiliates and subsidiaries

 

 

199

 

 

(46

)

 

5

 

 

(153

)

 

5

 

Loss on early extinguishment of debt

 

 

(31

)

 

 

 

 

 

 

 

(31

)

Other income (loss), net

 

 

2

 

 

(9

)

 

7

 

 

(1

)

 

(1

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations before income taxes

 

 

57

 

 

335

 

 

(29

)

 

(156

)

 

207

 

Income tax benefit (expense)

 

 

35

 

 

(121

)

 

1

 

 

 

 

(85

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations

 

 

92

 

 

214

 

 

(28

)

 

(156

)

 

122

 

Loss from discontinued operations, net of tax

 

 

(2

)

 

(1

)

 

(1

)

 

 

 

(4

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

 

90

 

 

213

 

 

(29

)

 

(156

)

 

118

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(18

)

 

(10

)

 

(28

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Huntsman International LLC

 

$

90

 

$

213

 

$

(47

)

$

(166

)

$

90

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

$

90

 

$

213

 

$

(29

)

$

(156

)

$

118

 

Other comprehensive (loss) income

 

 

(187

)

 

45

 

 

(208

)

 

156

 

 

(194

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(10

)

 

(11

)

 

(21

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive (loss) income attributable to Huntsman International LLC

 

$

(97

)

$

258

 

$

(247

)

$

(11

)

$

(97

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

 

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
NINE MONTHS ENDED SEPTEMBER 30, 2016
(In Millions)

                                                                                                                                                                                                                           

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

Net cash provided by operating activities

 

$

410

 

$

92

 

$

341

 

$

 

$

843

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(24

)

 

(85

)

 

(181

)

 

 

 

(290

)

Insurance proceeds for recovery of property damage

 

 

 

 

 

 

8

 

 

 

 

8

 

Cash received from unconsolidated affiliates

 

 

 

 

25

 

 

 

 

 

 

25

 

Investment in affiliate

 

 

(11

)

 

7

 

 

 

 

4

 

 

 

Investment in unconsolidated affiliates

 

 

 

 

(22

)

 

(1

)

 

 

 

(23

)

Proceeds from sale of businesses/assets

 

 

 

 

 

 

9

 

 

 

 

9

 

Decrease in receivable from affiliate

 

 

3

 

 

 

 

 

 

 

 

3

 

Change in restricted cash

 

 

 

 

 

 

1

 

 

 

 

1

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in investing activities

 

 

(32

)

 

(75

)

 

(164

)

 

4

 

 

(267

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net repayments on overdraft facilities

 

 

 

 

 

 

(1

)

 

 

 

(1

)

Repayments of short-term debt

 

 

 

 

 

 

(41

)

 

 

 

(41

)

Borrowings on short-term debt

 

 

 

 

 

 

8

 

 

 

 

8

 

Repayments of long-term debt

 

 

(774

)

 

 

 

(21

)

 

 

 

(795

)

Proceeds from issuance of long-term debt

 

 

547

 

 

 

 

5

 

 

 

 

552

 

Repayments of notes payable to affiliate

 

 

(7

)

 

 

 

 

 

6

 

 

(1

)

Proceeds from notes payable to affiliate

 

 

 

 

 

 

6

 

 

(6

)

 

 

Repayments of notes payable

 

 

(23

)

 

 

 

(2

)

 

 

 

(25

)

Borrowings on notes payable

 

 

30

 

 

 

 

1

 

 

 

 

31

 

Debt issuance costs paid

 

 

(8

)

 

 

 

 

 

 

 

(8

)

Dividends paid to noncontrolling intrests

 

 

 

 

 

 

(16

)

 

(10

)

 

(26

)

Contribution from parent

 

 

 

 

3

 

 

31

 

 

(34

)

 

 

Distribution to parent

 

 

 

 

(20

)

 

(20

)

 

40

 

 

 

Dividends paid to parent

 

 

(89

)

 

 

 

(1

)

 

 

 

(90

)

Other, net

 

 

1

 

 

 

 

 

 

 

 

1

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in financing activities

 

 

(323

)

 

(17

)

 

(51

)

 

(4

)

 

(395

)

Effect of exchange rate changes on cash

 

 

 

 

 

 

1

 

 

 

 

1

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Increase in cash and cash equivalents

 

 

55

 

 

 

 

127

 

 

 

 

182

 

Cash and cash equivalents at beginning of period

 

 

44

 

 

1

 

 

212

 

 

 

 

257

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash and cash equivalents at end of period

 

$

99

 

$

1

 

$

339

 

$

 

$

439

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
NINE MONTHS ENDED SEPTEMBER 30, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International LLC

 

Net cash (used in) provided by operating activities

 

$

(104

)

$

190

 

$

299

 

$

(2

)

$

383

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(51

)

 

(185

)

 

(218

)

 

 

 

(454

)

Cash received from unconsolidated affiliates

 

 

 

 

33

 

 

 

 

 

 

33

 

Investment in affiliate

 

 

9

 

 

1

 

 

 

 

(10

)

 

 

Investment in unconsolidated affiliates

 

 

 

 

(26

)

 

(12

)

 

 

 

(38

)

Acquisition of businesses, net of cash acquired

 

 

 

 

 

 

(14

)

 

 

 

(14

)

Cash received from purchase price adjustment for business acquired

 

 

18

 

 

 

 

 

 

 

 

18

 

Proceeds from sale of businesses/assets

 

 

 

 

 

 

1

 

 

 

 

1

 

Increase in receivable from affiliate

 

 

(1

)

 

 

 

 

 

 

 

(1

)

Cash received from termination of cross-currency interest rate contracts

 

 

66

 

 

 

 

 

 

 

 

66

 

Change in restricted cash

 

 

 

 

 

 

5

 

 

 

 

5

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash provided by (used in) investing activities

 

 

41

 

 

(177

)

 

(238

)

 

(10

)

 

(384

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net repayments on overdraft facilities

 

 

 

 

 

 

(3

)

 

 

 

(3

)

Repayments of short-term debt

 

 

 

 

 

 

(17

)

 

 

 

(17

)

Borrowings on short-term debt

 

 

 

 

 

 

11

 

 

 

 

11

 

Repayments of long-term debt

 

 

(544

)

 

 

 

(50

)

 

 

 

(594

)

Proceeds from issuance of long-term debt

 

 

326

 

 

 

 

 

 

 

 

326

 

Repayments of notes payable to affiliate

 

 

(50

)

 

 

 

 

 

 

 

(50

)

Proceeds from issuance of notes payable from affiliate

 

 

195

 

 

 

 

 

 

 

 

195

 

Repayments of notes payable

 

 

(23

)

 

 

 

(1

)

 

 

 

(24

)

Borrowings on notes payable

 

 

32

 

 

 

 

1

 

 

 

 

33

 

Debt issuance costs paid

 

 

(8

)

 

 

 

 

 

 

 

(8

)

Call premiums related to early extinguishment of debt

 

 

(34

)

 

 

 

 

 

 

 

(34

)

Contingent consideration paid for business acquired

 

 

(4

)

 

 

 

 

 

 

 

(4

)

Contribution from parent

 

 

 

 

4

 

 

12

 

 

(16

)

 

 

Distribution to parent

 

 

 

 

(21

)

 

(11

)

 

32

 

 

 

Dividends paid to noncontrolling interests

 

 

 

 

 

 

 

 

(6

)

 

(6

)

Dividends paid to parent

 

 

(92

)

 

(1

)

 

 

 

1

 

 

(92

)

Excess tax benefit related to stock-based compensation

 

 

1

 

 

 

 

 

 

 

 

1

 

Other, net

 

 

 

 

 

 

(1

)

 

1

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in financing activities

 

 

(201

)

 

(18

)

 

(59

)

 

12

 

 

(266

)

Effect of exchange rate changes on cash

 

 

 

 

 

 

(13

)

 

 

 

(13

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Decrease in cash and cash equivalents

 

 

(264

)

 

(5

)

 

(11

)

 

 

 

(280

)

Cash and cash equivalents at beginning of period

 

 

353

 

 

6

 

 

351

 

 

 

 

710

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash and cash equivalents at end of period

 

$

89

 

$

1

 

$

340

 

$

 

$

430

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

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