Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities:    
Net income $ 454 $ 220
Less: (Income) loss from discontinued operations (101) 12
Income from continuing operations 353 232
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (4) (4)
Depreciation and amortization 235 238
(Gain) loss on disposal of businesses/assets, net (5) 1
Loss on early extinguishment of debt 36 3
Noncash interest expense 7 12
Noncash restructuring and impairment charges   2
Deferred income taxes 24 90
Noncash gain on foreign currency transactions (4)  
Stock-based compensation 25 23
Other, net 3 (3)
Changes in operating assets and liabilities    
Accounts and notes receivable (148) (3)
Inventories (118) 133
Prepaid expenses 2 (6)
Other current assets 31 (14)
Other noncurrent assets (22) (13)
Accounts payable 95 (11)
Accrued liabilities 46 49
Other noncurrent liabilities (18) 7
Net cash provided by operating activities from continuing operations 538 736
Net cash provided by operating activities from discontinued operations 205 112
Net cash provided by operating activities 743 848
Investing Activities:    
Capital expenditures (159) (214)
Investment in unconsolidated affiliates   (2)
Acquisition of business, net of cash acquired (14)  
Proceeds from sale of businesses/assets 21  
Cash received from termination of cross-currency interest rate contracts 7  
Change in restricted cash   1
Other, net   2
Net cash used in investing activities from continuing operations (145) (213)
Net cash used in investing activities from discontinued operations (49) (57)
Net cash provided by (used in) investing activities (194) (270)
Financing Activities:    
Net repayments under revolving loan facilities (36)  
Net repayments on overdraft facilities   (1)
Repayments of short-term debt (10) (41)
Borrowings on short-term debt 6 8
Repayments of long-term debt (1,439) (795)
Proceeds from long-term debt of P and A Business 750  
Proceeds from issuance of long-term debt 24 552
Repayments of notes payable (20) (25)
Borrowings on notes payable 11 31
Debt issuance costs paid (21) (8)
Dividends paid to noncontrolling interests (26) (26)
Contribution from noncontrolling interests 4  
Dividends paid to common stockholders (90) (90)
Repurchase and cancellation of stock awards (8) (3)
Proceeds from issuance of common stock 22  
Proceeds from the IPO of P and A Business 522  
Cash paid for expenses of the IPO of P and A Business (40)  
Other, net 2 1
Net cash used in financing activities (349) (397)
Effect of exchange rate changes on cash 12 1
Increase in cash and cash equivalents 212 182
Cash and cash equivalents from continuing operations at beginning of period 385 [1] 236
Cash and cash equivalents from discontinued operations at beginning of period 29 21
Cash and cash equivalents at end of period 626 439
Supplemental cash flow information:    
Cash paid for interest 122 139
Cash (received) paid for income taxes (31) 29
Huntsman International    
Operating Activities:    
Net income 450 218
Less: (Income) loss from discontinued operations (98) 17
Income from continuing operations 352 235
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (4) (4)
Depreciation and amortization 227 228
(Gain) loss on disposal of businesses/assets, net (5) 1
Loss on early extinguishment of debt 36 3
Noncash interest expense 19 20
Noncash restructuring and impairment charges   2
Deferred income taxes 24 90
Noncash gain on foreign currency transactions (4)  
Noncash compensation 24 22
Other, net 3  
Changes in operating assets and liabilities    
Accounts and notes receivable (147) (3)
Inventories (118) 133
Prepaid expenses 3 (5)
Other current assets 30 (15)
Other noncurrent assets (22) (13)
Accounts payable 84 (20)
Accrued liabilities 45 49
Other noncurrent liabilities (11) 13
Net cash provided by operating activities from continuing operations 536 736
Net cash provided by operating activities from discontinued operations 202 107
Net cash provided by operating activities 738 843
Investing Activities:    
Capital expenditures (159) (214)
Investment in unconsolidated affiliates   (2)
Acquisition of business, net of cash acquired (14)  
Proceeds from sale of businesses/assets 21  
Increase in receivable from affiliate (3) 3
Cash received from termination of cross-currency interest rate contracts 7  
Change in restricted cash   1
Other, net 1 2
Net cash used in investing activities from continuing operations (147) (210)
Net cash used in investing activities from discontinued operations (49) (57)
Net cash provided by (used in) investing activities (196) (267)
Financing Activities:    
Net repayments under revolving loan facilities (36)  
Net repayments on overdraft facilities   (1)
Repayments of short-term debt (10) (41)
Borrowings on short-term debt 6 8
Repayments of long-term debt (1,439) (795)
Proceeds from long-term debt of P and A Business 750  
Proceeds from issuance of long-term debt 24 552
Proceeds from issuance of notes payable from affiliate 21  
Repayments of notes payable to affiliate   (1)
Repayments of notes payable (20) (25)
Borrowings on notes payable 11 31
Debt issuance costs paid (21) (8)
Dividends paid to noncontrolling interests (26) (26)
Contribution from noncontrolling interests 4  
Dividends paid to parent (90) (90)
Proceeds from the IPO of P and A Business 522  
Cash paid for expenses of the IPO of P and A Business (40)  
Other, net 1 1
Net cash used in financing activities (343) (395)
Effect of exchange rate changes on cash 12 1
Increase in cash and cash equivalents 211 182
Cash and cash equivalents from continuing operations at beginning of period 384 [1] 236
Cash and cash equivalents from discontinued operations at beginning of period 29 21
Cash and cash equivalents at end of period 624 439
Supplemental cash flow information:    
Cash paid for interest 122 139
Cash (received) paid for income taxes $ (31) $ 29
[1] At September 30, 2017 and December 31, 2016, respectively, $35 and $20 of cash and cash equivalents, $11 and $10 of restricted cash, $29 and $21 of accounts and notes receivable (net), $42 and $45 of inventories, $6 and $5 of other current assets, $272 and $279 of property, plant and equipment (net), $10 each of intangible assets (net), $39 and $37 of other noncurrent assets, $81 and $89 of accounts payable, $29 and $30 of accrued liabilities, $20 and $12 of current portion of debt, $94 and $114 of longterm debt, and $80 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.”