Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenues:    
Trade sales, services and fees, net $ 2,853 $ 2,626
Related party sales 60 53
Total revenues 2,913 2,679
Cost of goods sold 2,363 2,219
Gross profit 550 460
Operating expenses:    
Selling, general and administrative 221 218
Research and development 39 39
Other operating expense 5 34
Restructuring, impairment and plant closing costs   7
Total expenses 265 298
Operating income 285 162
Interest expense, net (59) (59)
Equity in income of investment in unconsolidated affiliates 2 2
Loss on early extinguishment of debt (1) (3)
Income from continuing operations before income taxes 227 102
Income tax expense (60) (22)
Income from continuing operations 167 80
Loss from discontinued operations, net of tax (4) (14)
Income before extraordinary gain 163 66
Extraordinary gain on the acquisition of a business, net of tax of nil   1
Net income 163 67
Net income attributable to noncontrolling interests   (5)
Net income attributable to Huntsman Corporation or Huntsman International LLC 163 62
Basic income (loss) per share:    
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.71 $ 0.32
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) $ (0.02) $ (0.06)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.69 $ 0.26
Weighted average shares (in shares) 236.5 237.6
Diluted income (loss) per share:    
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.70 $ 0.31
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) $ (0.02) $ (0.05)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.68 $ 0.26
Weighted average shares (in shares) 240.1 242.9
Amounts attributable to Huntsman Corporation common stockholders:    
Income from continuing operations 167 75
Loss from discontinued operations, net of tax (4) (14)
Extraordinary gain on the acquisition of a business, net of tax   1
Net income 163 62
Dividends per share (in dollars per share) $ 0.10 $ 0.10
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
    
Revenues:    
Trade sales, services and fees, net 2,853 2,626
Related party sales 60 53
Total revenues 2,913 2,679
Cost of goods sold 2,359 2,214
Gross profit 554 465
Operating expenses:    
Selling, general and administrative 219 217
Research and development 39 39
Other operating expense 5 34
Restructuring, impairment and plant closing costs   7
Total expenses 263 297
Operating income 291 168
Interest expense, net (61) (64)
Equity in income of investment in unconsolidated affiliates 2 2
Loss on early extinguishment of debt (1) (3)
Income from continuing operations before income taxes 231 103
Income tax expense (61) (22)
Income from continuing operations 170 81
Loss from discontinued operations, net of tax (4) (14)
Income before extraordinary gain 166 67
Extraordinary gain on the acquisition of a business, net of tax of nil   1
Net income 166 68
Net income attributable to noncontrolling interests   (5)
Net income attributable to Huntsman Corporation or Huntsman International LLC 166 63
Amounts attributable to Huntsman Corporation common stockholders:    
Extraordinary gain on the acquisition of a business, net of tax   1
Net income $ 166 $ 63