OTHER COMPREHENSIVE INCOME (LOSS) |
12. OTHER COMPREHENSIVE INCOME (LOSS)
The components of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):
Huntsman Corporation
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Pension and
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Other
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Foreign
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other
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comprehensive
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Amounts
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Amounts
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currency
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postretirement
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income of
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attributable to
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attributable to
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translation
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benefits
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unconsolidated
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noncontrolling
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Huntsman
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adjustment(a)
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adjustments(b)
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affiliates
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Other, net
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Total
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interests
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Corporation
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Beginning balance, January 1, 2017
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$
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(459)
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$
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(1,275)
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$
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4
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$
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23
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$
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(1,707)
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$
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36
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$
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(1,671)
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Other comprehensive income before reclassifications, gross
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170
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—
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(1)
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7
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176
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(12)
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164
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Tax benefit
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31
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—
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—
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(1)
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30
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—
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30
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Amounts reclassified from accumulated other comprehensive loss, gross(c)
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—
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60
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—
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(8)
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52
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—
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52
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Tax expense
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—
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(5)
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—
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—
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(5)
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—
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(5)
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Net current-period other comprehensive income (loss)
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201
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55
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(1)
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(2)
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253
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(12)
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241
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Disposition of a portion of P&A Business
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—
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—
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—
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—
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—
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72
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72
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Ending balance, September 30, 2017
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$
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(258)
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$
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(1,220)
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$
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3
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$
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21
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$
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(1,454)
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$
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96
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$
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(1,358)
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(a)
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Amounts are net of tax of $69 and $100 as of September 30, 2017 and January 1, 2017, respectively.
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(b)
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Amounts are net of tax of $172 and $177 as of September 30, 2017 and January 1, 2017, respectively.
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(c)
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See table below for details about these reclassifications.
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Pension and
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Other
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Foreign
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other
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comprehensive
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Amounts
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Amounts
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currency
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postretirement
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income of
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attributable to
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attributable to
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translation
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benefits
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unconsolidated
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noncontrolling
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Huntsman
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adjustment(a)
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adjustments(b)
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affiliates
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Other, net
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Total
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interests
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Corporation
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Beginning balance, January 1, 2016
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$
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(288)
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$
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(1,056)
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$
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11
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$
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17
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$
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(1,316)
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$
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28
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$
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(1,288)
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Other comprehensive (loss) income before reclassifications, gross
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(18)
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—
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(8)
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6
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(20)
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—
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(20)
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Tax benefit
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7
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—
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—
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—
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7
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—
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7
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Amounts reclassified from accumulated other comprehensive loss, gross(c)
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—
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40
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—
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—
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40
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—
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40
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Tax expense
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—
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(5)
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—
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—
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(5)
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—
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(5)
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Net current-period other comprehensive (loss) income
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(11)
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35
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(8)
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6
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22
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—
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22
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Ending balance, September 30, 2016
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$
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(299)
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$
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(1,021)
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$
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3
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$
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23
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$
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(1,294)
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$
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28
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$
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(1,266)
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(a)Amounts are net of tax of $83 and $90 as of September 30, 2016 and January 1, 2016, respectively.
(b)Amounts are net of tax of $130 and $135 as of September 30, 2016 and January 1, 2016, respectively.
(c)See table below for details about these reclassifications.
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Three months ended
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Nine months ended
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September 30, 2017
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September 30, 2017
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Amount reclassified
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Amount reclassified
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Affected line item in
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from accumulated
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from accumulated
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the statement
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Details about Accumulated Other
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other
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other
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where net income
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Comprehensive Loss Components(a):
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comprehensive loss
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comprehensive loss
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is presented
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Amortization of pension and other postretirement benefits:
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Prior service credit
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$
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(4)
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$
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(11)
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(b)
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Actuarial loss
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25
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71
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(b)(c)
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21
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60
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Total before tax
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(3)
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(5)
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Income tax expense
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Total reclassifications for the period
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$
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18
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$
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55
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Net of tax
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Three months ended
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Nine months ended
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September 30, 2016
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September 30, 2016
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Amount reclassified
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Amount reclassified
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Affected line item in
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from accumulated
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from accumulated
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the statement
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Details about Accumulated Other
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other
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other
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where net income
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Comprehensive Loss Components(a):
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comprehensive loss
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comprehensive loss
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is presented
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Amortization of pension and other postretirement benefits:
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Prior service credit
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$
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(4)
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$
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(12)
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(b)
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Actuarial loss
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17
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52
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(b)(c)
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13
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40
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Total before tax
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(2)
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(5)
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Income tax expense
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Total reclassifications for the period
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$
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11
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$
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35
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Net of tax
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(a)
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Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.
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(b)
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These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 10. Employee Benefit Plans.”
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(c)
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Amounts contain approximately $6 and $4 of actuarial losses related to discontinued operations for the three months ended September 30, 2017 and 2016, respectively and $18 and $11 of actuarial losses related to discontinued operations for the nine months ended September 30, 2017 and 2016, respectively.
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Huntsman International
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Foreign currency translation adjustment(a)
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Pension and other postretirement benefits adjustments(b)
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Other comprehensive income of unconsolidated affiliates
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Other, net
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Total
|
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Amounts attributable to noncontrolling interests
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Amounts attributable to Huntsman International
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Beginning balance, January 1, 2017
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|
$
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(462)
|
|
$
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(1,286)
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$
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4
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$
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17
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$
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(1,727)
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$
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36
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$
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(1,691)
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Other comprehensive income before reclassifications, gross
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169
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—
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(1)
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8
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|
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176
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(12)
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164
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Tax benefit
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30
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—
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|
|
—
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|
|
(1)
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|
29
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|
|
—
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29
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Amounts reclassified from accumulated other comprehensive loss, gross(c)
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—
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65
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—
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(8)
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57
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—
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57
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Contribution of other comprehensive income from Parent
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—
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20
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—
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|
—
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20
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|
|
—
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20
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Tax expense
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|
—
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|
|
(5)
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|
—
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|
|
—
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(5)
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—
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(5)
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Net current-period other comprehensive income (loss)
|
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|
199
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|
80
|
|
|
(1)
|
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|
(1)
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|
277
|
|
|
(12)
|
|
|
265
|
Disposition of a portion of P&A Business
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|
|
—
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|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
72
|
|
|
72
|
Ending balance, September 30, 2017
|
|
$
|
(263)
|
|
$
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(1,206)
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|
$
|
3
|
|
$
|
16
|
|
$
|
(1,450)
|
|
$
|
96
|
|
$
|
(1,354)
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|
(a)
|
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Amounts are net of tax of $56 and $86 as of September 30, 2017 and January 1, 2017, respectively.
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|
(b)
|
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Amounts are net of tax of $200 and $205 as of September 30, 2017 and January 1, 2017, respectively.
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(c)
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See table below for details about these reclassifications.
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Foreign currency translation adjustment(a)
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Pension and other postretirement benefits adjustments(b)
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Other comprehensive income of unconsolidated affiliates
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Other, net
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Total
|
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Amounts attributable to noncontrolling interests
|
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Amounts attributable to Huntsman International
|
Beginning balance, January 1, 2016
|
|
$
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(292)
|
|
$
|
(1,074)
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|
$
|
11
|
|
$
|
11
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|
$
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(1,344)
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$
|
28
|
|
$
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(1,316)
|
Other comprehensive (loss) income before reclassifications, gross
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|
|
(18)
|
|
|
—
|
|
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(8)
|
|
|
6
|
|
|
(20)
|
|
|
—
|
|
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(20)
|
Tax benefit
|
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|
7
|
|
|
—
|
|
|
—
|
|
|
—
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|
|
7
|
|
|
—
|
|
|
7
|
Amounts reclassified from accumulated other comprehensive loss, gross(c)
|
|
|
—
|
|
|
46
|
|
|
—
|
|
|
—
|
|
|
46
|
|
|
—
|
|
|
46
|
Tax expense
|
|
|
—
|
|
|
(6)
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|
|
—
|
|
|
—
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|
|
(6)
|
|
|
—
|
|
|
(6)
|
Net current-period other comprehensive income (loss)
|
|
|
(11)
|
|
|
40
|
|
|
(8)
|
|
|
6
|
|
|
27
|
|
|
—
|
|
|
27
|
Ending balance, September 30, 2016
|
|
$
|
(303)
|
|
$
|
(1,034)
|
|
$
|
3
|
|
$
|
17
|
|
$
|
(1,317)
|
|
$
|
28
|
|
$
|
(1,289)
|
|
(a)
|
|
Amounts are net of tax of $69 and $76 as of September 30, 2016 and January 1, 2016, respectively.
|
|
(b)
|
|
Amounts are net of tax of $157 and $163 as of both September 30, 2016 and January 1, 2016, respectively.
|
|
(c)
|
|
See table below for details about these reclassifications.
|
|
|
|
|
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|
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Three months ended
|
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Nine months ended
|
|
|
|
|
September 30, 2017
|
|
September 30, 2017
|
|
|
|
|
Amount reclassified
|
|
Amount reclassified
|
|
Affected line item in
|
|
|
from accumulated
|
|
from accumulated
|
|
the statement
|
Details about Accumulated Other
|
|
other
|
|
other
|
|
where net income
|
Comprehensive Loss Components(a):
|
|
comprehensive loss
|
|
comprehensive loss
|
|
is presented
|
Amortization of pension and other postretirement benefits:
|
|
|
|
|
|
|
|
|
Prior service credit
|
|
$
|
(4)
|
|
$
|
(11)
|
|
(b)
|
Actuarial loss
|
|
|
26
|
|
|
76
|
|
(b)(c)
|
|
|
|
22
|
|
|
65
|
|
Total before tax
|
|
|
|
(3)
|
|
|
(5)
|
|
Income tax expense
|
Total reclassifications for the period
|
|
$
|
19
|
|
$
|
60
|
|
Net of tax
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Nine months ended
|
|
|
|
|
September 30, 2016
|
|
September 30, 2016
|
|
|
|
|
Amount reclassified
|
|
Amount reclassified
|
|
Affected line item in
|
|
|
from accumulated
|
|
from accumulated
|
|
the statement
|
Details about Accumulated Other
|
|
other
|
|
other
|
|
where net income
|
Comprehensive Loss Components(a):
|
|
comprehensive loss
|
|
comprehensive loss
|
|
is presented
|
Amortization of pension and other postretirement benefits:
|
|
|
|
|
|
|
|
|
Prior service credit
|
|
$
|
(4)
|
|
$
|
(12)
|
|
(b)
|
Actuarial loss
|
|
|
20
|
|
|
58
|
|
(b)(c)
|
|
|
|
16
|
|
|
46
|
|
Total before tax
|
|
|
|
(2)
|
|
|
(6)
|
|
Income tax expense
|
Total reclassifications for the period
|
|
$
|
14
|
|
$
|
40
|
|
Net of tax
|
|
(a)
|
|
Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.
|
|
(b)
|
|
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 10. Employee Benefit Plans.”
|
|
(c)
|
|
Amounts contain approximately $6 and $4 of actuarial losses related to discontinued operations for the three months ended September 30, 2017 and 2016, respectively and $18 and $11 of actuarial losses related to discontinued operations for the nine months ended September 30, 2017 and 2016, respectively.
|
|