Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Activities:      
Net income $ 357 $ 126 $ 345
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income of investment in unconsolidated affiliates (5) (6) (6)
Depreciation and amortization 432 399 445
Provision for losses on accounts receivable 2 1  
(Gain) loss on disposal of businesses/assets, net (117) 4 4
Loss on early extinguishment of debt 3 31 28
Noncash interest expense 15 11 11
Noncash restructuring and impairment charges 5 112 37
Deferred income taxes 15 (25) (51)
Noncash (gain) loss on foreign currency transactions (5) 7 15
Stock-based compensation 34 30 28
Portion of insurance proceeds representing cash provided by investing activities (8)    
Other, net 5 3 (2)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts and notes receivable (35) 121 2
Inventories 283 179 (20)
Prepaid expenses 6 (52) (2)
Other current assets 8 (64) (44)
Other noncurrent assets 35 (98) (44)
Accounts payable 56 (157) 86
Accrued liabilities 65 (9) 11
Other noncurrent liabilities (63) (38) (83)
Net cash provided by operating activities 1,088 575 760
Investing Activities:      
Capital expenditures (421) (663) (601)
Insurance proceeds for recovery of property damage 8    
Cash received from unconsolidated affiliates 33 48 51
Investment in unconsolidated affiliates (30) (54) (108)
Acquisition of business, net of cash acquired   (14) (960)
Cash received from purchase price adjustment for business acquired   18  
Proceeds from sale of businesses/assets 208 1 15
Cash received from termination of cross-currency interest rate contracts   66  
Change in restricted cash 1 (3)  
Other, net (1) 1 (3)
Net cash used in investing activities (202) (600) (1,606)
Financing Activities:      
Net repayments under revolving loan facilities   (1) (1)
Net repayments on overdraft facilities (1) (8) (5)
Repayments of short-term debt (56)   (8)
Borrowings on short-term debt 10 12 15
Repayments of long-term debt (1,070) (604) (418)
Proceeds from issuance of long-term debt 559 326 1,792
Repayments of notes payable (33) (33) (34)
Borrowings on notes payable 31 34 33
Debt issuance costs paid (9) (8) (67)
Call premiums related to early extinguishment of debt (1) (35) (24)
Contingent consideration paid for acquisition   (4) (6)
Dividends paid to common stockholders (120) (121) (121)
Dividends paid to noncontrolling interests (30) (14) (4)
Repurchase and cancellation of stock awards (3) (7) (7)
Proceeds from issuance of common stock 1 1 47
Repurchase of common stock   (100)  
Excess tax benefit related to stock-based compensation   1 1
Other, net (1) (1) 4
Net cash (used in) provided by financing activities (723) (562) 1,197
Effect of exchange rate changes on cash (6) (16) (11)
Increase (decrease) in cash and cash equivalents 157 (603) 340
Cash and cash equivalents at beginning of period 257 [1] 860 520
Cash and cash equivalents at end of period 414 [1] 257 [1] 860
Supplemental cash flow information:      
Cash paid for interest 205 225 208
Cash paid for income taxes 40 126 165
Huntsman International      
Operating Activities:      
Net income 354 127 357
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income of investment in unconsolidated affiliates (5) (6) (6)
Depreciation and amortization 420 387 430
Provision for losses on accounts receivable 2 1  
(Gain) loss on disposal of businesses/assets, net (117) 4 4
Loss on early extinguishment of debt 3 31 28
Noncash interest expense 26 20 21
Noncash restructuring and impairment charges 5 112 37
Deferred income taxes 14 (24) (48)
Noncash (gain) loss on foreign currency transactions (5) 7 15
Noncash compensation 33 29 27
Portion of insurance proceeds representing cash provided by investing activities (8)    
Other, net 4 4 (3)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts and notes receivable (35) 121 2
Inventories 283 179 (20)
Prepaid expenses 6 (52) (2)
Other current assets 8 (66) (37)
Other noncurrent assets 35 (98) (44)
Accounts payable 45 (166) 76
Accrued liabilities 65 (9) (8)
Other noncurrent liabilities (55) (31) (75)
Net cash provided by operating activities 1,078 570 754
Investing Activities:      
Capital expenditures (421) (663) (601)
Insurance proceeds for recovery of property damage 8    
Cash received from unconsolidated affiliates 33 48 51
Investment in unconsolidated affiliates (30) (54) (108)
Acquisition of business, net of cash acquired   (14) (960)
Cash received from purchase price adjustment for business acquired   18  
Proceeds from sale of businesses/assets 208 1 15
Decrease (increase) in receivable from affiliate 6 1 (2)
Cash received from termination of cross-currency interest rate contracts   66  
Change in restricted cash 1 (3)  
Other, net   1 (2)
Net cash used in investing activities (195) (599) (1,607)
Financing Activities:      
Net repayments under revolving loan facilities   (1) (1)
Net repayments on overdraft facilities (1) (8) (5)
Repayments of short-term debt (56)   (8)
Borrowings on short-term debt 10 12 15
Repayments of long-term debt (1,070) (604) (418)
Proceeds from issuance of long-term debt 559 326 1,792
Repayments of notes payable to affiliate (1) (148) (122)
Proceeds from issuance of notes payable from affiliate   195  
Repayments of notes payable (33) (33) (34)
Borrowings on notes payable 31 34 33
Debt issuance costs paid (9) (8) (67)
Call premiums related to early extinguishment of debt (1) (35) (24)
Contingent consideration paid for acquisition   (4) (6)
Dividends paid to noncontrolling interests (30) (14) (4)
Dividends paid to parent (119) (121) (97)
Excess tax benefit related to stock-based compensation   1 1
Other, net (1)   4
Net cash (used in) provided by financing activities (721) (408) 1,059
Effect of exchange rate changes on cash (6) (16) (11)
Increase (decrease) in cash and cash equivalents 156 (453) 195
Cash and cash equivalents at beginning of period 257 [1] 710 515
Cash and cash equivalents at end of period 413 [1] 257 [1] 710
Supplemental cash flow information:      
Cash paid for interest 205 225 208
Cash paid for income taxes $ 40 $ 126 $ 165
[1] At December 31, 2016 and December 31, 2015, respectively, $25 and $34 of cash and cash equivalents, $10 and $12 of restricted cash, $27 and $26 of accounts and notes receivable (net), $46 and $54 of inventories, $5 each of other current assets, $284 and $307 of property, plant and equipment (net), $31 and $36 of intangible assets (net), $37 and $38 of other noncurrent assets, $90 and $82 of accounts payable, $34 and $27 of accrued liabilities, $14 and $15 of current portion of debt, $114 and $137 of longterm debt, and $76 and $54 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 8. Variable Interest Entities.”