Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS AND BUSINESS DISPOSITIONS (Tables)

v3.8.0.1
DISCONTINUED OPERATIONS AND BUSINESS DISPOSITIONS (Tables)
 12 Months Ended
Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Summary of major classes of assets and liabilities constituting assets and liabilities held for sale

 

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

 

2017

    

2016

Carrying amounts of major classes of assets held for sale:

 

 

 

 

 

 

Accounts receivable

 

$

380

 

$

234

Inventories

 

 

454

 

 

426

Other current assets

 

 

318

 

 

117

Total current assets(1)

 

 

 

 

 

777

Property, plant and equipment, net

 

 

1,424

 

 

1,178

Deferred income taxes

 

 

158

 

 

143

Other noncurrent assets

 

 

146

 

 

142

Total noncurrent assets(1)

 

 

 

 

 

1,463

Total assets held for sale

 

$

2,880

 

$

2,240

Carrying amounts of major classes of liabilities in held for sale:

 

 

 

 

 

 

Accounts payable

 

$

385

 

$

297

Accrued liabilities

 

 

236

 

 

145

Other current liabilities

 

 

25

 

 

25

Total current liabilities(1)

 

 

 

 

 

467

Deferred income taxes

 

 

 —

 

 

56

Long term debt

 

 

746

 

 

 —

Other noncurrent liabilities

 

 

300

 

 

337

Total noncurrent liabilities(1)

 

 

 

 

 

393

Total liabilities held for sale

 

$

1,692

 

$

860

(1)   The assets and liabilities held for sale are classified as current as of December 31, 2017 because it is probable that the sale of our remaining ownership interest in Venator ordinary shares will occur and proceeds will be collected within one year.

The following table summarizes major classes of line items constituting pretax and after-tax income of discontinued operations.

Huntsman Corporation

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

2017

    

2016

 

2015

 

Major classes of line items constituting pretax income (loss) of discontinued operations:

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

$

2,234

 

$

2,168

 

$

2,193

 

Cost of goods sold

 

1,840

 

 

2,012

 

 

2,077

 

Selling, general and administrative

 

187

 

 

174

 

 

214

 

Restructuring, impairment and plant closing costs

 

56

 

 

36

 

 

220

 

Business separation expenses

 

40

 

 

18

 

 

 —

 

Interest expense (income)

 

19

 

 

(1)

 

 

 —

 

Other operating income, net

 

(134)

 

 

(38)

 

 

(1)

 

Other loss (income), net

 

 1

 

 

(1)

 

 

 1

 

Income (loss) from discontinued operations before income taxes

 

225

 

 

(32)

 

 

(318)

 

Income tax (expense) benefit

 

(67)

 

 

24

 

 

16

 

Income (loss) from discontinued operations, net of tax

 

158

 

 

(8)

 

 

(302)

 

Net income attributable to noncontrolling interests

 

(10)

 

 

(10)

 

 

(7)

 

Net income (loss) attributable to discontinued operations

$

148

 

$

(18)

 

$

(309)

 

 

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Summary of major classes of assets and liabilities constituting assets and liabilities held for sale

Huntsman International

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

2017

    

2016

 

2015

 

Major classes of line items constituting pretax income (loss) of discontinued operations:

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

$

2,234

 

$

2,168

 

 

2,193

 

Cost of goods sold

 

1,843

 

 

2,017

 

 

2,082

 

Selling, general and administrative

 

187

 

 

174

 

 

214

 

Restructuring, impairment and plant closing costs

 

56

 

 

36

 

 

220

 

Business separation expenses

 

40

 

 

18

 

 

 —

 

Interest expense

 

19

 

 

(1)

 

 

 —

 

Other operating income, net

 

(134)

 

 

(38)

 

 

(1)

 

Other loss (income), net

 

 1

 

 

(1)

 

 

 1

 

Income (loss) from discontinued operations before income taxes

 

222

 

 

(37)

 

 

(323)

 

Income tax (expense) benefit

 

(67)

 

 

24

 

 

16

 

Income (loss) from discontinued operations, net of tax

 

155

 

 

(13)

 

 

(307)

 

Net income attributable to noncontrolling interests

 

(10)

 

 

(10)

 

 

(7)

 

Net income (loss) attributable to discontinued operations

$

145

 

$

(23)

 

$

(314)