Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities:    
Net income $ 275 $ 156
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (3) (3)
Depreciation and amortization 214 209
(Gain) loss on disposal of businesses/assets, net (6) 2
Loss on early extinguishment of debt 1 2
Noncash interest expense 6 8
Noncash restructuring and impairment charges 8 9
Deferred income taxes 22 52
Noncash gain on foreign currency transactions (6)  
Stock-based compensation 19 17
Insurance proceeds for business interruption, net of gain on recovery 28  
Other, net 4 (9)
Changes in operating assets and liabilities    
Accounts and notes receivable (148) (90)
Inventories (125) 177
Prepaid expenses 3 14
Other current assets 47 22
Other noncurrent assets (11) (36)
Accounts payable 73 (56)
Accrued liabilities (7) (39)
Other noncurrent liabilities   8
Net cash provided by operating activities 394 443
Investing Activities:    
Capital expenditures (147) (189)
Insurance proceeds for recovery of property damage 50 8
Cash received from unconsolidated affiliates 27 19
Investment in unconsolidated affiliates (19) (14)
Acquisition of business, net of cash acquired (14)  
Proceeds from sale of businesses/assets 19  
Change in restricted cash   2
Other, net 1  
Net cash used in investing activities (83) (174)
Financing Activities:    
Net repayments under revolving loan facilities (36)  
Net repayments on overdraft facilities   (1)
Repayments of short-term debt (8) (18)
Borrowings on short-term debt 4 6
Repayments of long-term debt (122) (582)
Proceeds from issuance of long-term debt 10 547
Repayments of notes payable (13) (16)
Borrowings on notes payable   2
Debt issuance costs paid (3) (8)
Dividends paid to noncontrolling interests (10) (21)
Contribution from noncontrolling interests 2  
Dividends paid to common stockholders (60) (60)
Repurchase and cancellation of stock awards (8) (2)
Proceeds from issuance of common stock 20  
Net cash used in financing activities (224) (153)
Effect of exchange rate changes on cash 8  
Increase in cash and cash equivalents 95 116
Cash and cash equivalents at beginning of period 414 [1] 257
Cash and cash equivalents at end of period 509 [1] 373
Supplemental cash flow information:    
Cash paid for interest 92 103
Cash (received) paid for income taxes (57) 21
Huntsman International    
Operating Activities:    
Net income 273 155
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income of investment in unconsolidated affiliates (3) (3)
Depreciation and amortization 208 203
(Gain) loss on disposal of businesses/assets, net (6) 2
Loss on early extinguishment of debt 1 2
Noncash interest expense 13 13
Noncash restructuring and impairment charges 8 9
Deferred income taxes 22 53
Noncash gain on foreign currency transactions (6)  
Noncash compensation 18 16
Insurance proceeds for business interruption, net of gain on recovery 28  
Other, net 3 (9)
Changes in operating assets and liabilities    
Accounts and notes receivable (146) (90)
Inventories (125) 177
Prepaid expenses 3 15
Other current assets 46 22
Other noncurrent assets (11) (36)
Accounts payable 66 (62)
Accrued liabilities (7) (38)
Other noncurrent liabilities 4 12
Net cash provided by operating activities 389 441
Investing Activities:    
Capital expenditures (147) (189)
Insurance proceeds for recovery of property damage 50 8
Cash received from unconsolidated affiliates 27 19
Investment in unconsolidated affiliates (19) (14)
Acquisition of business, net of cash acquired (14)  
Proceeds from sale of businesses/assets 19  
Increase in receivable from affiliate (4)  
Change in restricted cash   2
Other, net 2  
Net cash used in investing activities (86) (174)
Financing Activities:    
Net repayments under revolving loan facilities (36)  
Net repayments on overdraft facilities   (1)
Repayments of short-term debt (8) (18)
Borrowings on short-term debt 4 6
Repayments of long-term debt (122) (582)
Proceeds from issuance of long-term debt 10 547
Proceeds from issuance of notes payable from affiliate 18  
Repayments of notes payable to affiliate   (1)
Repayments of notes payable (13) (16)
Borrowings on notes payable   2
Debt issuance costs paid (3) (8)
Dividends paid to noncontrolling interests (10) (21)
Contribution from noncontrolling interests 2  
Dividends paid to parent (60) (60)
Other, net   1
Net cash used in financing activities (218) (151)
Effect of exchange rate changes on cash 8  
Increase in cash and cash equivalents 93 116
Cash and cash equivalents at beginning of period 413 [1] 257
Cash and cash equivalents at end of period 506 [1] 373
Supplemental cash flow information:    
Cash paid for interest 92 103
Cash (received) paid for income taxes $ (57) $ 21
[1] At June 30, 2017 and December 31, 2016, respectively, $32 and $25 of cash and cash equivalents, $10 each of restricted cash, $35 and $27 of accounts and notes receivable (net), $51 and $46 of inventories, $5 of other current assets, $274 and $284 of property, plant and equipment (net), $39 and $31 of intangible assets (net), $38 and $37 of other noncurrent assets, $82 and $90 of accounts payable, $33 and $34 of accrued liabilities, $21 and $14 of current portion of debt, $104 and $114 of longterm debt, and $78 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.”