Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Trade sales, services and fees, net $ 2,582 $ 2,512 $ 5,010 $ 4,833
Related party sales 34 32 75 66
Total revenues 2,616 2,544 5,085 4,899
Cost of goods sold 2,095 2,087 4,098 4,026
Gross profit 521 457 987 873
Operating expenses:        
Selling, general and administrative 227 234 455 457
Research and development 38 39 75 76
Restructuring, impairment and plant closing costs 10 29 46 42
Business separation expenses 12 0 21 0
Merger costs 6   6  
Other operating income, net (47) (21) (53) (16)
Total expenses 246 281 550 559
Operating income 275 176 437 314
Interest expense 47 50 95 100
Equity in income of investment in unconsolidated affiliates 3 2 3 3
Loss on early extinguishment of debt (1) (2) (1) (2)
Other (loss) income , net (1) 1 1 2
Income from continuing operations before income taxes 229 127 345 217
Income tax expense (45) (32) (68) (59)
Income from continuing operations 184 95 277 158
Loss from discontinued operations (1) (1) (2) (2)
Net income 183 94 275 156
Net income attributable to noncontrolling interests (16) (7) (32) (13)
Net income attributable to Huntsman Corporation or Huntsman International LLC $ 167 $ 87 $ 243 $ 143
Basic income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.70 $ 0.37 $ 1.03 $ 0.62
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     (0.01) (0.01)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.70 $ 0.37 $ 1.02 $ 0.61
Weighted average shares (in shares) 238.3 236.3 237.8 236.2
Diluted income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.69 $ 0.36 $ 1.01 $ 0.61
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     (0.01) (0.01)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.69 $ 0.36 $ 1.00 $ 0.60
Weighted average shares (in shares) 243.7 239.5 243.2 238.3
Amounts attributable to Huntsman Corporation common stockholders:        
Income from continuing operations $ 168 $ 88 $ 245 $ 145
Loss from discontinued operations, net of tax $ (1) $ (1) $ (2) $ (2)
Dividends per share (in dollars per share) $ 0.125 $ 0.125 $ 0.25 $ 0.25
Huntsman International        
Revenues:        
Trade sales, services and fees, net $ 2,582 $ 2,512 $ 5,010 $ 4,833
Related party sales 34 32 75 66
Total revenues 2,616 2,544 5,085 4,899
Cost of goods sold 2,094 2,086 4,096 4,024
Gross profit 522 458 989 875
Operating expenses:        
Selling, general and administrative 226 234 452 455
Research and development 38 39 75 76
Restructuring, impairment and plant closing costs 10 29 46 42
Business separation expenses 12   21  
Merger costs 6   6  
Other operating income, net (48) (21) (53) (16)
Total expenses 244 281 547 557
Operating income 278 177 442 318
Interest expense 51 53 102 106
Equity in income of investment in unconsolidated affiliates 3 2 3 3
Loss on early extinguishment of debt (1) (2) (1) (2)
Other (loss) income , net (2) 1   2
Income from continuing operations before income taxes 227 125 342 215
Income tax expense (44) (31) (67) (58)
Income from continuing operations 183 94 275 157
Loss from discontinued operations (1) (1) (2) (2)
Net income 182 93 273 155
Net income attributable to noncontrolling interests (16) (7) (32) (13)
Net income attributable to Huntsman Corporation or Huntsman International LLC $ 166 $ 86 $ 241 $ 142