| Schedule I - Condensed Financial Information of Registrant |
HUNTSMAN CORPORATION (PARENT ONLY)
Schedule I—Condensed Financial Information of Registrant
HUNTSMAN CORPORATION (Parent Only)
BALANCE SHEETS
(In Millions, Except Share and Per Share Amounts)
|
|
|
December 31,
|
|
|
|
|
2016
|
|
2015
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
1
|
|
$
|
—
|
|
|
Receivable from affiliate
|
|
|
36
|
|
|
26
|
|
|
Note receivable from affiliate
|
|
|
100
|
|
|
100
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
137
|
|
|
126
|
|
|
Note receivable from affiliate-long-term
|
|
|
696
|
|
|
697
|
|
|
Investment in and advances to affiliates
|
|
|
781
|
|
|
938
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
1,614
|
|
$
|
1,761
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
Payable to affiliate
|
|
$
|
315
|
|
$
|
312
|
|
|
Accrued liabilities
|
|
|
2
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
317
|
|
|
314
|
|
|
Other long-term liabilities
|
|
|
10
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
327
|
|
|
319
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
Common stock $0.01 par value, 1,200,000,000 shares authorized, 250,802,175 and 249,483,541 issued and 236,370,347 and 237,080,026 outstanding in 2016 and 2015, respectively
|
|
|
3
|
|
|
3
|
|
|
Additional paid-in capital
|
|
|
3,447
|
|
|
3,407
|
|
|
Treasury stock, 12,607,223 and 11,162,454 shares in 2016 and 2015, respectively
|
|
|
(150
|
)
|
|
(135
|
)
|
|
Unearned stock-based compensation
|
|
|
(17
|
)
|
|
(17
|
)
|
|
Accumulated deficit
|
|
|
(325
|
)
|
|
(528
|
)
|
|
Accumulated other comprehensive loss
|
|
|
(1,671
|
)
|
|
(1,288
|
)
|
|
|
|
|
|
|
|
|
|
|
Total stockholders' equity
|
|
|
1,287
|
|
|
1,442
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders' equity
|
|
$
|
1,614
|
|
$
|
1,761
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This statement should be read in conjunction with the notes to the consolidated financial statements.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF OPERATIONS
(In Millions)
|
|
|
Year ended
December 31,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
Selling, general and administrative expenses
|
|
$
|
(4
|
)
|
$
|
(5
|
)
|
$
|
(5
|
)
|
|
Interest income
|
|
|
12
|
|
|
9
|
|
|
9
|
|
|
Equity in income (loss) of subsidiaries
|
|
|
199
|
|
|
(32
|
)
|
|
222
|
|
|
Dividend income—affiliate
|
|
|
119
|
|
|
121
|
|
|
97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
326
|
|
$
|
93
|
|
$
|
323
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This statement should be read in conjunction with the notes to the consolidated financial statements.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF COMPREHENSIVE LOSS
(In Millions)
|
|
|
Year ended December 31,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
Net income
|
|
$
|
326
|
|
$
|
93
|
|
$
|
323
|
|
|
Other comprehensive loss, net of tax:
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translations adjustments
|
|
|
(171
|
)
|
|
(313
|
)
|
|
(221
|
)
|
|
Pension and other postretirement benefits adjustments
|
|
|
(219
|
)
|
|
66
|
|
|
(271
|
)
|
|
Other, net
|
|
|
30
|
|
|
40
|
|
|
23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive loss, net of tax
|
|
|
(360
|
)
|
|
(207
|
)
|
|
(469
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss
|
|
|
(34
|
)
|
|
(114
|
)
|
|
(146
|
)
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
(23
|
)
|
|
(28
|
)
|
|
(7
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss attributable to Huntsman Corporation
|
|
$
|
(57
|
)
|
$
|
(142
|
)
|
$
|
(153
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This statement should be read in conjunction with the notes to the consolidated financial statements.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF STOCKHOLDERS' EQUITY
(In Millions, Except Share Amounts)
|
|
|
Huntsman Corporation Stockholders' Equity
|
|
|
|
|
|
|
Shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated
other
comprehensive
loss
|
|
|
|
|
|
|
Common
stock
|
|
Common
stock
|
|
Additional
paid-in
capital
|
|
Treasury
stock
|
|
Unearned
stock-based
compensation
|
|
Accumulated
deficit
|
|
Total
equity
|
|
|
Beginning balance, January 1, 2014
|
|
|
240,401,442
|
|
|
2
|
|
|
3,305
|
|
|
(50
|
)
|
|
(13
|
)
|
|
(687
|
)
|
|
(577
|
)
|
|
1,980
|
|
|
Net income
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
323
|
|
|
—
|
|
|
323
|
|
|
Other comprehensive loss
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(476
|
)
|
|
(476
|
)
|
|
Issuance of nonvested stock awards
|
|
|
—
|
|
|
—
|
|
|
15
|
|
|
—
|
|
|
(15
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Vesting of stock awards
|
|
|
1,018,050
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
Recognition of stock-based compensation
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
14
|
|
|
—
|
|
|
—
|
|
|
24
|
|
|
Repurchase and cancellation of stock awards
|
|
|
(302,200
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
|
Stock options exercised
|
|
|
2,299,687
|
|
|
1
|
|
|
47
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
48
|
|
|
Excess tax benefit related to stock-based compensation
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Accrued and unpaid dividends
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|
Dividends declared on common stock
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(121
|
)
|
|
—
|
|
|
(121
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2014
|
|
|
243,416,979
|
|
|
3
|
|
|
3,385
|
|
|
(50
|
)
|
|
(14
|
)
|
|
(493
|
)
|
|
(1,053
|
)
|
|
1,778
|
|
|
Net income
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
93
|
|
|
—
|
|
|
93
|
|
|
Other comprehensive loss
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(235
|
)
|
|
(235
|
)
|
|
Issuance of nonvested stock awards
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
—
|
|
|
(19
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Vesting of stock awards
|
|
|
1,037,743
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
|
Recognition of stock-based compensation
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
16
|
|
|
—
|
|
|
—
|
|
|
26
|
|
|
Repurchase and cancellation of stock awards
|
|
|
(304,340
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7
|
)
|
|
—
|
|
|
(7
|
)
|
|
Stock options exercised
|
|
|
48,572
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Excess tax benefit related to stock-based compensation
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Cash paid for noncontrolling interest
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
Treasury stock repurchased
|
|
|
(7,118,928
|
)
|
|
—
|
|
|
(15
|
)
|
|
(85
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(100
|
)
|
|
Dividends declared on common stock
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(121
|
)
|
|
—
|
|
|
(121
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2015
|
|
|
237,080,026
|
|
|
3
|
|
|
3,407
|
|
|
(135
|
)
|
|
(17
|
)
|
|
(528
|
)
|
|
(1,288
|
)
|
|
1,442
|
|
|
Net income
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
326
|
|
|
—
|
|
|
326
|
|
|
Other comprehensive loss
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(383
|
)
|
|
(383
|
)
|
|
Issuance of nonvested stock awards
|
|
|
—
|
|
|
—
|
|
|
16
|
|
|
—
|
|
|
(16
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Vesting of stock awards
|
|
|
914,081
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
Recognition of stock-based compensation
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|
—
|
|
|
16
|
|
|
—
|
|
|
—
|
|
|
25
|
|
|
Repurchase and cancellation of stock awards
|
|
|
(256,468
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|
Stock options exercised
|
|
|
77,477
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Excess tax benefit related to stock-based compensation
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
Treasury stock repurchased
|
|
|
(1,444,769
|
)
|
|
—
|
|
|
15
|
|
|
(15
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Dividends declared on common stock
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(120
|
)
|
|
—
|
|
|
(120
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared on common stock
|
|
|
236,370,347
|
|
$
|
3
|
|
$
|
3,447
|
|
$
|
(150
|
)
|
$
|
(17
|
)
|
$
|
(325
|
)
|
$
|
(1,671
|
)
|
$
|
1,287
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This statement should be read in conjunction with the notes to the consolidated financial statements.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF CASH FLOWS
(In Millions)
|
|
|
Year ended December 31,
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
|
|
Operating Activities:
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
326
|
|
$
|
93
|
|
$
|
323
|
|
|
Equity in (income) loss of subsidiaries
|
|
|
(199
|
)
|
|
32
|
|
|
(222
|
)
|
|
Stock-based compensation
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
Noncash interest income
|
|
|
(12
|
)
|
|
(9
|
)
|
|
(9
|
)
|
|
Changes in operating assets and liabilities
|
|
|
12
|
|
|
8
|
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
128
|
|
|
125
|
|
|
102
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
Loan to affiliate
|
|
|
—
|
|
|
(195
|
)
|
|
—
|
|
|
Repayments of loan by affiliate
|
|
|
1
|
|
|
148
|
|
|
122
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
1
|
|
|
(47
|
)
|
|
122
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid to common stockholders
|
|
|
(120
|
)
|
|
(121
|
)
|
|
(121
|
)
|
|
Repurchase and cancellation of stock awards
|
|
|
(3
|
)
|
|
(7
|
)
|
|
(7
|
)
|
|
Proceeds from issuance of common stock
|
|
|
1
|
|
|
1
|
|
|
47
|
|
|
Repurchase of common stock
|
|
|
—
|
|
|
(100
|
)
|
|
—
|
|
|
(Decrease) increase in payable to affiliates
|
|
|
(6
|
)
|
|
(1
|
)
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
(128
|
)
|
|
(228
|
)
|
|
(79
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash and cash equivalents
|
|
|
1
|
|
|
(150
|
)
|
|
145
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
—
|
|
|
150
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
1
|
|
$
|
—
|
|
$
|
150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This statement should be read in conjunction with the notes to the consolidated financial statements.
|