Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities:    
Net income $ 92 $ 62
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates   (1)
Depreciation and amortization 106 100
Loss on disposal of businesses/assets, net 26  
Noncash interest expense 3 4
Noncash restructuring and impairment charges 3 5
Deferred income taxes 4 6
Noncash gain on foreign currency transactions (5)  
Stock-based compensation 10 8
Portion of insurance proceeds representing cash provided by investing activities (54)  
Other, net (1) 2
Changes in operating assets and liabilities    
Accounts and notes receivable (57) (105)
Inventories (110) 22
Prepaid expenses (2) 2
Other current assets (15) 33
Other noncurrent assets (5) (20)
Accounts payable 77 (31)
Accrued liabilities 19  
Other noncurrent liabilities 2 1
Net cash provided by operating activities 93 88
Investing Activities:    
Capital expenditures (74) (99)
Insurance proceeds for recovery of property damage 54  
Cash received from unconsolidated affiliates 12 10
Investment in unconsolidated affiliates (15) (12)
Change in restricted cash (1) 2
Other, net   (2)
Net cash used in investing activities (24) (101)
Financing Activities:    
Net borrowings under revolving loan facilities   45
Repayments of short-term debt (6) (12)
Borrowings on short-term debt 2 4
Repayments of long-term debt (7) (27)
Proceeds from issuance of long-term debt 8  
Repayments of notes payable (5) (9)
Borrowings on notes payable   2
Dividends paid to noncontrolling interests (3) (9)
Contribution from noncontrolling interests 2  
Dividends paid to common stockholders (30) (30)
Repurchase and cancellation of stock awards (8) (2)
Proceeds from issuance of common stock 17  
Other, net (1)  
Net cash used in financing activities (31) (38)
Effect of exchange rate changes on cash 5 2
Cash and cash equivalents at beginning of period 414 [1] 257
Cash and cash equivalents at end of period 457 [1] 208
Supplemental cash flow information:    
Cash paid for income taxes 36 35
Huntsman International    
Operating Activities:    
Net income 91 62
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates   (1)
Depreciation and amortization 104 97
Loss on disposal of businesses/assets, net 26  
Noncash interest expense 6 7
Noncash restructuring and impairment charges 3 5
Deferred income taxes 4 6
Noncash gain on foreign currency transactions (5)  
Noncash compensation 9 7
Portion of insurance proceeds representing cash provided by investing activities (54)  
Other, net   2
Changes in operating assets and liabilities    
Accounts and notes receivable (57) (105)
Inventories (110) 22
Prepaid expenses (2) 3
Other current assets (15) 32
Other noncurrent assets (5) (20)
Accounts payable 74 (33)
Accrued liabilities 18  
Other noncurrent liabilities 3 3
Net cash provided by operating activities 90 87
Investing Activities:    
Capital expenditures (74) (99)
Insurance proceeds for recovery of property damage 54  
Cash received from unconsolidated affiliates 12 10
Investment in unconsolidated affiliates (15) (12)
Increase in receivable from affiliate (7) (2)
Change in restricted cash (1) 2
Other, net 1 (1)
Net cash used in investing activities (30) (102)
Financing Activities:    
Net borrowings under revolving loan facilities   45
Repayments of short-term debt (6) (12)
Borrowings on short-term debt 2 4
Repayments of long-term debt (7) (27)
Proceeds from issuance of long-term debt 8  
Proceeds from issuance of notes payable from affiliate 15  
Repayments of notes payable (5) (9)
Borrowings on notes payable   2
Dividends paid to noncontrolling interests (3) (9)
Contribution from noncontrolling interests 2  
Dividends paid to parent (30) (30)
Net cash used in financing activities (24) (36)
Effect of exchange rate changes on cash 5 2
Increase (decrease) in cash and cash equivalents 41 (49)
Cash and cash equivalents at beginning of period 413 [1] 257
Cash and cash equivalents at end of period 454 [1] 208
Supplemental cash flow information:    
Cash paid for interest 36 35
Cash paid for income taxes $ 8 $ 5
[1] At March 31, 2017 and December 31, 2016, respectively, $28 and $25 of cash and cash equivalents, $10 each of restricted cash, $33 and $27 of accounts and notes receivable (net), $42 and $46 of inventories, $6 and $5 of other current assets, $279 and $284 of property, plant and equipment (net), $32 and $31 of intangible assets (net), $37 each of other noncurrent assets, $86 and $90 of accounts payable, $32 and $34 of accrued liabilities, $21 and $14 of current portion of debt, $104 and $114 of longterm debt, and $77 and $76 of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 5. Variable Interest Entities.”