Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

v3.8.0.1
OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 12 Months Ended
Dec. 31, 2017
OTHER COMPREHENSIVE INCOME (LOSS)  
Schedule of other comprehensive loss

Other comprehensive loss consisted of the following (dollars in millions):

Huntsman Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Pension and

    

Other

    

 

    

 

    

 

    

 

 

 

Foreign

 

other

 

comprehensive

 

 

 

 

 

 

 

Amounts

 

Amounts

 

 

currency

 

postretirement

 

income of

 

 

 

 

 

 

 

attributable to

 

attributable to

 

 

translation

 

benefits

 

unconsolidated

 

 

 

 

 

 

 

noncontrolling

 

Huntsman

 

 

adjustment(a)

 

adjustments(b)

 

affiliates

 

Other, net

 

Total

 

interests

 

Corporation

Beginning balance, January 1, 2017

 

$

(459)

 

$

(1,275)

 

$

 4

 

$

23

 

$

(1,707)

 

$

36

 

$

(1,671)

Other comprehensive income before reclassifications, gross

 

 

175

 

 

11

 

 

(1)

 

 

 9

 

 

194

 

 

(22)

 

 

172

Tax benefit

 

 

35

 

 

 9

 

 

 —

 

 

 2

 

 

46

 

 

 —

 

 

46

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 —

 

 

80

 

 

 —

 

 

(10)

 

 

70

 

 

 —

 

 

70

Tax expense

 

 

 —

 

 

(14)

 

 

 —

 

 

 —

 

 

(14)

 

 

 —

 

 

(14)

Net current-period other comprehensive income (loss)

 

 

210

 

 

86

 

 

(1)

 

 

 1

 

 

296

 

 

(22)

 

 

274

Disposition of a portion of P&A Business

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

129

 

 

129

Ending balance, December 31, 2017

 

$

(249)

 

$

(1,189)

 

$

 3

 

$

24

 

$

(1,411)

 

$

143

 

$

(1,268)

(a)

Amounts are net of tax of $65 and $100 as of December 31, 2017 and January 1, 2017, respectively.

(b)

Amounts are net of tax of $172 and $177 as of December 31, 2017 and January 1, 2017, respectively.

(c)

See table below for details about these reclassifications.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Pension and

    

Other

    

 

 

    

 

 

    

 

 

    

 

 

 

 

Foreign

 

other

 

comprehensive

 

 

 

 

 

Amounts

 

Amounts

 

 

currency

 

postretirement

 

income of

 

 

 

 

 

attributable to

 

attributable to

 

 

translation

 

benefits

 

unconsolidated

 

 

 

 

 

noncontrolling

 

Huntsman

 

 

adjustment(a)

 

adjustments(b)

 

affiliates

 

Other, net

 

Total

 

interests

 

Corporation

Beginning balance, January 1, 2016

 

$

(288)

 

$

(1,056)

 

$

11

 

$

17

 

$

(1,316)

 

$

28

 

$

(1,288)

Other comprehensive (loss) income before reclassifications, gross

 

 

(162)

 

 

(315)

 

 

(7)

 

 

 5

 

 

(479)

 

 

 8

 

 

(471)

Tax benefit

 

 

(10)

 

 

58

 

 

 —

 

 

 1

 

 

49

 

 

 —

 

 

49

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 1

 

 

53

 

 

 —

 

 

 —

 

 

54

 

 

 —

 

 

54

Tax expense

 

 

 —

 

 

(15)

 

 

 —

 

 

 —

 

 

(15)

 

 

 —

 

 

(15)

Net current-period other comprehensive (loss) income

 

 

(171)

 

 

(219)

 

 

(7)

 

 

 6

 

 

(391)

 

 

 8

 

 

(383)

Ending balance, December 31, 2016

 

$

(459)

 

$

(1,275)

 

$

 4

 

$

23

 

$

(1,707)

 

$

36

 

$

(1,671)

(a)

Amounts are net of tax of $100 and $90 as of December 31, 2016 and January 1, 2016, respectively.

(b)

Amounts are net of tax of $177 and $135 as of December 31, 2016 and January 1, 2016, respectively.

(c)

See table below for details about these reclassifications.
Schedule of details about reclassifications from other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

 

 

2017

 

2016

 

2015

 

 

 

 

Amount reclassified

 

Amount reclassified

 

Amount reclassified

 

Affected line item in

 

 

from accumulated

 

from accumulated

 

from accumulated

 

the statement 

Details about Accumulated Other

 

other

 

other

 

other

 

where net income

Comprehensive Loss Components(a):

    

comprehensive loss

    

comprehensive loss

    

comprehensive loss

    

is presented

Amortization of pension and other postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

$

15

 

$

16

 

$

10

 

(b)

Actuarial loss

 

 

(95)

 

 

(69)

 

 

(79)

 

(b)(c)

 

 

 

(80)

 

 

(53)

 

 

(69)

 

Total before tax

 

 

 

14

 

 

15

 

 

14

 

Income tax expense

Total reclassifications for the period

 

$

(66)

 

$

(38)

 

$

(55)

 

Net of tax

(a)Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations.

(b)These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 16. Employee Benefit Plans.”

(c)Amounts contain approximately $19 million, $14 million and $15 million of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2017, 2016 and 2015, respectively.

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES  
OTHER COMPREHENSIVE INCOME (LOSS)  
Schedule of other comprehensive loss

Huntsman International

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
International

Beginning balance, January 1, 2017

    

$

(462)

    

$

(1,286)

    

$

 4

    

$

17

    

$

(1,727)

    

$

36

    

$

(1,691)

Other comprehensive income before reclassifications, gross

 

 

175

 

 

12

 

 

(1)

 

 

 8

 

 

194

 

 

(22)

 

 

172

Tax benefit

 

 

35

 

 

 9

 

 

 —

 

 

 2

 

 

46

 

 

 —

 

 

46

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 —

 

 

86

 

 

 —

 

 

(10)

 

 

76

 

 

 —

 

 

76

Contribution of other comprehensive income from Parent

 

 

 —

 

 

20

 

 

 —

 

 

 —

 

 

20

 

 

 —

 

 

20

Tax expense

 

 

 —

 

 

(15)

 

 

 —

 

 

 —

 

 

(15)

 

 

 —

 

 

(15)

Net current-period other comprehensive income (loss)

 

 

210

 

 

112

 

 

(1)

 

 

 —

 

 

321

 

 

(22)

 

 

299

Disposition of a portion of P&A Business

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

129

 

 

129

Ending balance, December 31, 2017

 

$

(252)

 

$

(1,174)

 

$

 3

 

$

17

 

$

(1,406)

 

$

143

 

$

(1,263)

(a)

Amounts are net of tax of $51 and $86 as of December 31, 2017 and January 1, 2017, respectively.

(b)

Amounts are net of tax of $199 and $205 as of December 31, 2017 and January 1, 2017, respectively.

(c)

See table below for details about these reclassifications.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
International

Beginning balance, January 1, 2016

 

$

(292)

 

$

(1,074)

 

$

11

 

$

11

 

$

(1,344)

 

$

28

 

$

(1,316)

Other comprehensive (loss) income before reclassifications, gross

 

 

(161)

 

 

(315)

 

 

(7)

 

 

 5

 

 

(478)

 

 

 8

 

 

(470)

Tax benefit

 

 

(10)

 

 

58

 

 

 —

 

 

 1

 

 

49

 

 

 —

 

 

49

Amounts reclassified from accumulated other comprehensive loss, gross(c)

 

 

 1

 

 

61

 

 

 —

 

 

 —

 

 

62

 

 

 —

 

 

62

Tax expense

 

 

 —

 

 

(16)

 

 

 —

 

 

 —

 

 

(16)

 

 

 —

 

 

(16)

Net current-period other comprehensive income (loss)

 

 

(170)

 

 

(212)

 

 

(7)

 

 

 6

 

 

(383)

 

 

 8

 

 

(375)

Ending balance, December 31, 2016

 

$

(462)

 

$

(1,286)

 

$

 4

 

$

17

 

$

(1,727)

 

$

36

 

$

(1,691)

(a)

Amounts are net of tax of $86 and $76 as of December 31, 2016 and January 1, 2016, respectively.

(b)

Amounts are net of tax of $205 and $163 as of December 31, 2016 and January 1, 2016, respectively.

(c)

See table below for details about these reclassifications.
Schedule of details about reclassifications from other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

 

 

2017

 

2016

 

2015

 

 

 

 

Amount

 

Amount

 

Amount

 

 

 

 

reclassified

 

reclassified

 

reclassified

 

Affected

 

 

from

 

from

 

from

 

line item in

 

 

accumulated

 

accumulated

 

accumulated

 

the statement

 

 

other

 

other

 

other

 

where

Details about Accumulated Other

 

comprehensive

 

comprehensive

 

comprehensive

 

net income is

Comprehensive Loss Components(a):

    

loss

    

loss

    

loss

    

presented

Amortization of pension and other postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

$

15

 

$

16

 

$

10

 

(b)

Actuarial loss

 

 

(101)

 

 

(77)

 

 

(87)

 

(b)(c)

 

 

 

(86)

 

 

(61)

 

 

(77)

 

Total before tax

 

 

 

15

 

 

16

 

 

15

 

Income tax expense

Total reclassifications for the period

 

$

(71)

 

$

(45)

 

$

(62)

 

Net of tax

(a)

Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations.

(b)

These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 16. Employee Benefit Plans.”

(c)

Amounts contain approximately $24 million and $18 million and $20 million of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2017, 2016 and 2015, respectively.