Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 463 [1] $ 554 [1]
Restricted cash 15 [1] 8 [1]
Accounts and notes receivable (net of allowance for doubtful accounts of $47 and $46, respectively), ($685 and $659 pledged as collateral, respectively) 1,801 [1] 1,529 [1]
Accounts receivable from affiliates 28 5
Inventories 1,638 [1] 1,539 [1]
Prepaid expenses 48 46
Deferred income taxes 20 20
Other current assets 196 [1] 245 [1]
Total current assets 4,209 3,946
Property, plant and equipment, net 3,648 [1] 3,622 [1]
Investment in unconsolidated affiliates 223 202
Intangible assets, net 87 [1] 91 [1]
Goodwill 108 114
Deferred income taxes 200 195
Notes receivable from affiliates 2 5
Other noncurrent assets 476 [1] 482 [1]
Total assets 8,953 8,657
Current liabilities:    
Accounts payable 1,089 [1] 862 [1]
Accounts payable to affiliates 39 50
Accrued liabilities 658 [1] 695 [1]
Deferred income taxes 7 7
Current portion of debt 193 [1] 212 [1]
Total current liabilities 1,986 1,826
Long-term debt 3,628 [1] 3,730 [1]
Notes payable to affiliates 4 4
Deferred income taxes 328 309
Other noncurrent liabilities 987 [1] 1,012 [1]
Total liabilities 6,933 6,881
Commitments and contingencies (Notes 13 and 14)      
Huntsman Corporation stockholders' equity or Huntsman International LLC members' equity:    
Common stock $0.01 par value, 1,200,000,000 shares authorized, 243,364,206 and 241,836,001 issued and 237,786,226 and 235,746,087 outstanding in 2012 and 2011, respectively 2 2
Additional paid-in capital 3,255 3,228
Treasury stock, 4,043,526 shares at 2012 and 2011 (50) (50)
Unearned stock-based compensation (20) (12)
Accumulated deficit (815) (947)
Accumulated other comprehensive loss (468) (559)
Total Huntsman Corporation stockholders' equity 1,904 1,662
Noncontrolling interests in subsidiaries 116 114
Total equity 2,020 1,776
Total liabilities and equity 8,953 8,657
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
    
Current assets:    
Cash and cash equivalents 230 [1] 231 [1]
Restricted cash 15 [1] 8 [1]
Accounts and notes receivable (net of allowance for doubtful accounts of $47 and $46, respectively), ($685 and $659 pledged as collateral, respectively) 1,801 [1] 1,529 [1]
Accounts receivable from affiliates 181 148
Inventories 1,638 [1] 1,539 [1]
Prepaid expenses 46 46
Deferred income taxes 41 40
Other current assets 196 [1] 220 [1]
Total current assets 4,148 3,761
Property, plant and equipment, net 3,542 [1] 3,510 [1]
Investment in unconsolidated affiliates 223 202
Intangible assets, net 89 [1] 93 [1]
Goodwill 108 114
Deferred income taxes 169 163
Notes receivable from affiliates 2 5
Other noncurrent assets 476 [1] 482 [1]
Total assets 8,757 8,330
Current liabilities:    
Accounts payable 1,089 [1] 862 [1]
Accounts payable to affiliates 43 64
Accrued liabilities 654 [1] 694 [1]
Deferred income taxes 29 29
Note payable to affiliate 100 100
Current portion of debt 193 [1] 212 [1]
Total current liabilities 2,108 1,961
Long-term debt 3,628 [1] 3,730 [1]
Notes payable to affiliates 541 439
Deferred income taxes 155 106
Other noncurrent liabilities 986 [1] 1,003 [1]
Total liabilities 7,418 7,239
Commitments and contingencies (Notes 13 and 14)      
Huntsman Corporation stockholders' equity or Huntsman International LLC members' equity:    
Members' equity, 2,728 units issued and outstanding 3,092 3,081
Accumulated deficit (1,351) (1,493)
Accumulated other comprehensive loss (518) (611)
Total Huntsman International LLC members' equity 1,223 977
Noncontrolling interests in subsidiaries 116 114
Total equity 1,339 1,091
Total liabilities and equity $ 8,757 $ 8,330
[1] At March 31, 2012 and December 31, 2011, respectively, $33 and $44 of cash and cash equivalents, $9 and $2 of restricted cash, $34 and $29 of accounts and notes receivable (net), $49 and $47 of inventories, $2 and $1 of other current assets, $399 and $403 of property, plant and equipment (net), $23 each of intangible assets (net), $22 and $21 of other noncurrent assets, $64 and $55 of accounts payable, $19 and $21 of accrued liabilities, $23 and $16 of current portion of debt, $256 and $264 of long-term debt, and $103 and $111 of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See "Note 5. Variable Interest Entities."