| CONDENSED CONSOLIDATING BALANCE SHEETS |
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2017
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
74
|
|
$
|
—
|
|
$
|
394
|
|
$
|
—
|
|
$
|
468
|
|
Restricted cash
|
|
|
—
|
|
|
—
|
|
|
11
|
|
|
—
|
|
|
11
|
|
Accounts and notes receivable, net
|
|
|
36
|
|
|
94
|
|
|
1,120
|
|
|
5
|
|
|
1,255
|
|
Accounts receivable from affiliates
|
|
|
983
|
|
|
4,130
|
|
|
391
|
|
|
(5,131)
|
|
|
373
|
|
Inventories
|
|
|
101
|
|
|
210
|
|
|
767
|
|
|
(5)
|
|
|
1,073
|
|
Prepaid expenses
|
|
|
21
|
|
|
10
|
|
|
39
|
|
|
(11)
|
|
|
59
|
|
Other current assets
|
|
|
783
|
|
|
3
|
|
|
170
|
|
|
(752)
|
|
|
204
|
|
Current assets held for sale
|
|
|
—
|
|
|
—
|
|
|
2,880
|
|
|
—
|
|
|
2,880
|
|
Total current assets
|
|
|
1,998
|
|
|
4,447
|
|
|
5,772
|
|
|
(5,894)
|
|
|
6,323
|
|
Property, plant and equipment, net
|
|
|
461
|
|
|
1,119
|
|
|
1,515
|
|
|
—
|
|
|
3,095
|
|
Investment in unconsolidated affiliates
|
|
|
6,364
|
|
|
2,268
|
|
|
266
|
|
|
(8,632)
|
|
|
266
|
|
Intangible assets, net
|
|
|
25
|
|
|
—
|
|
|
31
|
|
|
—
|
|
|
56
|
|
Goodwill
|
|
|
(14)
|
|
|
82
|
|
|
72
|
|
|
—
|
|
|
140
|
|
Deferred income taxes
|
|
|
323
|
|
|
—
|
|
|
208
|
|
|
(323)
|
|
|
208
|
|
Notes receivable from affiliates
|
|
|
72
|
|
|
569
|
|
|
—
|
|
|
(641)
|
|
|
—
|
|
Other noncurrent assets
|
|
|
52
|
|
|
189
|
|
|
257
|
|
|
(1)
|
|
|
497
|
|
Total assets
|
|
$
|
9,281
|
|
$
|
8,674
|
|
$
|
8,121
|
|
$
|
(15,491)
|
|
$
|
10,585
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
74
|
|
$
|
214
|
|
$
|
652
|
|
$
|
6
|
|
$
|
946
|
|
Accounts payable to affiliates
|
|
|
4,019
|
|
|
485
|
|
|
697
|
|
|
(5,131)
|
|
|
70
|
|
Accrued liabilities
|
|
|
89
|
|
|
826
|
|
|
413
|
|
|
(762)
|
|
|
566
|
|
Note payable to affiliate
|
|
|
100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100
|
|
Current portion of debt
|
|
|
17
|
|
|
—
|
|
|
23
|
|
|
—
|
|
|
40
|
|
Current liabilities held for sale
|
|
|
—
|
|
|
—
|
|
|
1,692
|
|
|
—
|
|
|
1,692
|
|
Total current liabilities
|
|
|
4,299
|
|
|
1,525
|
|
|
3,477
|
|
|
(5,887)
|
|
|
3,414
|
|
Long-term debt
|
|
|
1,927
|
|
|
—
|
|
|
331
|
|
|
—
|
|
|
2,258
|
|
Notes payable to affiliates
|
|
|
742
|
|
|
—
|
|
|
642
|
|
|
(642)
|
|
|
742
|
|
Deferred income taxes
|
|
|
12
|
|
|
179
|
|
|
33
|
|
|
41
|
|
|
265
|
|
Other noncurrent liabilities
|
|
|
218
|
|
|
278
|
|
|
576
|
|
|
—
|
|
|
1,072
|
|
Total liabilities
|
|
|
7,198
|
|
|
1,982
|
|
|
5,059
|
|
|
(6,488)
|
|
|
7,751
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman International LLC members’ equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members’ equity
|
|
|
3,616
|
|
|
2,216
|
|
|
3,641
|
|
|
(5,857)
|
|
|
3,616
|
|
Accumulated (deficit) retained earnings
|
|
|
(270)
|
|
|
2,749
|
|
|
(116)
|
|
|
(2,633)
|
|
|
(270)
|
|
Accumulated other comprehensive (loss) income
|
|
|
(1,263)
|
|
|
1,727
|
|
|
(1,211)
|
|
|
(516)
|
|
|
(1,263)
|
|
Total Huntsman International LLC members’ equity
|
|
|
2,083
|
|
|
6,692
|
|
|
2,314
|
|
|
(9,006)
|
|
|
2,083
|
|
Noncontrolling interests in subsidiaries
|
|
|
—
|
|
|
—
|
|
|
748
|
|
|
3
|
|
|
751
|
|
Total equity
|
|
|
2,083
|
|
|
6,692
|
|
|
3,062
|
|
|
(9,003)
|
|
|
2,834
|
|
Total liabilities and equity
|
|
$
|
9,281
|
|
$
|
8,674
|
|
$
|
8,121
|
|
$
|
(15,491)
|
|
$
|
10,585
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2016
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
37
|
|
$
|
—
|
|
$
|
347
|
|
$
|
—
|
|
$
|
384
|
|
Restricted cash
|
|
|
—
|
|
|
—
|
|
|
11
|
|
|
—
|
|
|
11
|
|
Accounts and notes receivable, net
|
|
|
22
|
|
|
88
|
|
|
1,053
|
|
|
5
|
|
|
1,168
|
|
Accounts receivable from affiliates
|
|
|
1,351
|
|
|
4,589
|
|
|
149
|
|
|
(5,760)
|
|
|
329
|
|
Inventories
|
|
|
85
|
|
|
183
|
|
|
652
|
|
|
(2)
|
|
|
918
|
|
Prepaid expenses
|
|
|
68
|
|
|
46
|
|
|
36
|
|
|
(101)
|
|
|
49
|
|
Other current assets
|
|
|
820
|
|
|
3
|
|
|
129
|
|
|
(725)
|
|
|
227
|
|
Current assets held for sale
|
|
|
—
|
|
|
—
|
|
|
777
|
|
|
—
|
|
|
777
|
|
Total current assets
|
|
|
2,383
|
|
|
4,909
|
|
|
3,154
|
|
|
(6,583)
|
|
|
3,863
|
|
Property, plant and equipment, net
|
|
|
463
|
|
|
1,163
|
|
|
1,385
|
|
|
1
|
|
|
3,012
|
|
Investment in unconsolidated affiliates
|
|
|
5,870
|
|
|
1,458
|
|
|
245
|
|
|
(7,325)
|
|
|
248
|
|
Intangible assets, net
|
|
|
28
|
|
|
—
|
|
|
15
|
|
|
—
|
|
|
43
|
|
Goodwill
|
|
|
(12)
|
|
|
82
|
|
|
51
|
|
|
—
|
|
|
121
|
|
Deferred income taxes
|
|
|
515
|
|
|
—
|
|
|
265
|
|
|
(527)
|
|
|
253
|
|
Notes receivable from affiliates
|
|
|
37
|
|
|
620
|
|
|
—
|
|
|
(657)
|
|
|
—
|
|
Other noncurrent assets
|
|
|
74
|
|
|
188
|
|
|
210
|
|
|
—
|
|
|
472
|
|
Noncurrent assets held for sale
|
|
|
—
|
|
|
—
|
|
|
1,463
|
|
|
—
|
|
|
1,463
|
|
Total assets
|
|
$
|
9,358
|
|
$
|
8,420
|
|
$
|
6,788
|
|
$
|
(15,091)
|
|
$
|
9,475
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
63
|
|
$
|
152
|
|
$
|
553
|
|
$
|
5
|
|
$
|
773
|
|
Accounts payable to affiliates
|
|
|
3,667
|
|
|
645
|
|
|
1,499
|
|
|
(5,760)
|
|
|
51
|
|
Accrued liabilities
|
|
|
87
|
|
|
787
|
|
|
420
|
|
|
(826)
|
|
|
468
|
|
Note payable to affiliate
|
|
|
100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100
|
|
Current portion of debt
|
|
|
30
|
|
|
—
|
|
|
20
|
|
|
—
|
|
|
50
|
|
Current liabilities held for sale
|
|
|
—
|
|
|
—
|
|
|
467
|
|
|
—
|
|
|
467
|
|
Total current liabilities
|
|
|
3,947
|
|
|
1,584
|
|
|
2,959
|
|
|
(6,581)
|
|
|
1,909
|
|
Long-term debt
|
|
|
3,763
|
|
|
—
|
|
|
359
|
|
|
—
|
|
|
4,122
|
|
Notes payable to affiliates
|
|
|
696
|
|
|
—
|
|
|
658
|
|
|
(657)
|
|
|
697
|
|
Deferred income taxes
|
|
|
22
|
|
|
257
|
|
|
19
|
|
|
69
|
|
|
367
|
|
Other noncurrent liabilities
|
|
|
174
|
|
|
300
|
|
|
577
|
|
|
—
|
|
|
1,051
|
|
Noncurrent liabilities held for sale
|
|
|
—
|
|
|
—
|
|
|
393
|
|
|
—
|
|
|
393
|
|
Total liabilities
|
|
|
8,602
|
|
|
2,141
|
|
|
4,965
|
|
|
(7,169)
|
|
|
8,539
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman International LLC members’ equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members’ equity
|
|
|
3,226
|
|
|
2,949
|
|
|
5,019
|
|
|
(7,968)
|
|
|
3,226
|
|
Accumulated (deficit) retained earnings
|
|
|
(779)
|
|
|
2,332
|
|
|
(1,713)
|
|
|
(619)
|
|
|
(779)
|
|
Accumulated other comprehensive (loss) income
|
|
|
(1,691)
|
|
|
998
|
|
|
(1,652)
|
|
|
654
|
|
|
(1,691)
|
|
Total Huntsman International LLC members' equity
|
|
|
756
|
|
|
6,279
|
|
|
1,654
|
|
|
(7,933)
|
|
|
756
|
|
Noncontrolling interests in subsidiaries
|
|
|
—
|
|
|
—
|
|
|
169
|
|
|
11
|
|
|
180
|
|
Total equity
|
|
|
756
|
|
|
6,279
|
|
|
1,823
|
|
|
(7,922)
|
|
|
936
|
|
Total liabilities and equity
|
|
$
|
9,358
|
|
$
|
8,420
|
|
$
|
6,788
|
|
$
|
(15,091)
|
|
$
|
9,475
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME |
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME
YEAR ENDED DECEMBER 31, 2017
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
International
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
LLC
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
1,116
|
|
$
|
2,028
|
|
$
|
5,064
|
|
$
|
—
|
|
$
|
8,208
|
|
Related party sales
|
|
|
230
|
|
|
329
|
|
|
1,051
|
|
|
(1,460)
|
|
|
150
|
|
Total revenues
|
|
|
1,346
|
|
|
2,357
|
|
|
6,115
|
|
|
(1,460)
|
|
|
8,358
|
|
Cost of goods sold
|
|
|
1,050
|
|
|
2,069
|
|
|
4,880
|
|
|
(1,456)
|
|
|
6,543
|
|
Gross profit
|
|
|
296
|
|
|
288
|
|
|
1,235
|
|
|
(4)
|
|
|
1,815
|
|
Selling, general and administrative
|
|
|
171
|
|
|
132
|
|
|
490
|
|
|
—
|
|
|
793
|
|
Research and development
|
|
|
50
|
|
|
43
|
|
|
45
|
|
|
—
|
|
|
138
|
|
Restructuring, impairment and plant closing costs
|
|
|
8
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
20
|
|
Merger costs
|
|
|
28
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
28
|
|
Other operating expense (income), net
|
|
|
30
|
|
|
(37)
|
|
|
(16)
|
|
|
—
|
|
|
(23)
|
|
Operating income
|
|
|
9
|
|
|
150
|
|
|
704
|
|
|
(4)
|
|
|
859
|
|
Interest (expense) income
|
|
|
(179)
|
|
|
27
|
|
|
(29)
|
|
|
—
|
|
|
(181)
|
|
Equity in income of investment in affiliates and subsidiaries
|
|
|
614
|
|
|
641
|
|
|
15
|
|
|
(1,257)
|
|
|
13
|
|
Loss on early extinguishment of debt
|
|
|
(54)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(54)
|
|
Dividend income
|
|
|
473
|
|
|
—
|
|
|
—
|
|
|
(473)
|
|
|
—
|
|
Other income, net
|
|
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
3
|
|
Income from continuing operations before income taxes
|
|
|
864
|
|
|
818
|
|
|
692
|
|
|
(1,734)
|
|
|
640
|
|
Income tax (expense) benefit
|
|
|
(192)
|
|
|
59
|
|
|
(161)
|
|
|
233
|
|
|
(61)
|
|
Income from continuing operations
|
|
|
672
|
|
|
877
|
|
|
531
|
|
|
(1,501)
|
|
|
579
|
|
(Loss) income from discontinued operations, net of tax
|
|
|
(43)
|
|
|
(4)
|
|
|
202
|
|
|
—
|
|
|
155
|
|
Net income
|
|
|
629
|
|
|
873
|
|
|
733
|
|
|
(1,501)
|
|
|
734
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(111)
|
|
|
6
|
|
|
(105)
|
|
Net income attributable to Huntsman International LLC
|
|
$
|
629
|
|
$
|
873
|
|
$
|
622
|
|
$
|
(1,495)
|
|
$
|
629
|
|
Net income
|
|
$
|
629
|
|
$
|
873
|
|
$
|
733
|
|
$
|
(1,501)
|
|
$
|
734
|
|
Other comprehensive income
|
|
|
428
|
|
|
728
|
|
|
336
|
|
|
(1,171)
|
|
|
321
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(130)
|
|
|
3
|
|
|
(127)
|
|
Comprehensive income attributable to Huntsman International LLC
|
|
$
|
1,057
|
|
$
|
1,601
|
|
$
|
939
|
|
$
|
(2,669)
|
|
$
|
928
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2016
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
International
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
LLC
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
1,048
|
|
$
|
1,862
|
|
$
|
4,477
|
|
$
|
—
|
|
$
|
7,387
|
|
Related party sales
|
|
|
201
|
|
|
286
|
|
|
946
|
|
|
(1,302)
|
|
|
131
|
|
Total revenues
|
|
|
1,249
|
|
|
2,148
|
|
|
5,423
|
|
|
(1,302)
|
|
|
7,518
|
|
Cost of goods sold
|
|
|
984
|
|
|
1,823
|
|
|
4,486
|
|
|
(1,305)
|
|
|
5,988
|
|
Gross profit
|
|
|
265
|
|
|
325
|
|
|
937
|
|
|
3
|
|
|
1,530
|
|
Selling, general and administrative
|
|
|
156
|
|
|
111
|
|
|
497
|
|
|
—
|
|
|
764
|
|
Research and development
|
|
|
48
|
|
|
42
|
|
|
47
|
|
|
—
|
|
|
137
|
|
Restructuring, impairment and plant closing costs
|
|
|
6
|
|
|
16
|
|
|
25
|
|
|
—
|
|
|
47
|
|
Other operating income, net
|
|
|
(24)
|
|
|
(31)
|
|
|
(46)
|
|
|
—
|
|
|
(101)
|
|
Operating income
|
|
|
79
|
|
|
187
|
|
|
414
|
|
|
3
|
|
|
683
|
|
Interest (expense) income
|
|
|
(218)
|
|
|
31
|
|
|
(28)
|
|
|
—
|
|
|
(215)
|
|
Equity in income of investment in affiliates and subsidiaries
|
|
|
183
|
|
|
320
|
|
|
6
|
|
|
(504)
|
|
|
5
|
|
(Loss) income on early extinguishment of debt
|
|
|
(4)
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
(3)
|
|
Dividends received (paid)
|
|
|
217
|
|
|
(430)
|
|
|
430
|
|
|
(217)
|
|
|
—
|
|
Other income, net
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
5
|
|
Income from continuing operations before income taxes
|
|
|
257
|
|
|
108
|
|
|
828
|
|
|
(718)
|
|
|
475
|
|
Income tax benefit (expense)
|
|
|
76
|
|
|
(78)
|
|
|
(78)
|
|
|
(28)
|
|
|
(108)
|
|
Income from continuing operations
|
|
|
333
|
|
|
30
|
|
|
750
|
|
|
(746)
|
|
|
367
|
|
(Loss) income from discontinued operations, net of tax
|
|
|
(10)
|
|
|
(2)
|
|
|
(1)
|
|
|
—
|
|
|
(13)
|
|
Net income
|
|
|
323
|
|
|
28
|
|
|
749
|
|
|
(746)
|
|
|
354
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(28)
|
|
|
(3)
|
|
|
(31)
|
|
Net income attributable to Huntsman International LLC
|
|
$
|
323
|
|
$
|
28
|
|
$
|
721
|
|
$
|
(749)
|
|
$
|
323
|
|
Net income
|
|
$
|
323
|
|
$
|
28
|
|
$
|
749
|
|
$
|
(746)
|
|
$
|
354
|
|
Other comprehensive loss
|
|
|
(374)
|
|
|
(365)
|
|
|
(347)
|
|
|
703
|
|
|
(383)
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(11)
|
|
|
(12)
|
|
|
(23)
|
|
Comprehensive (loss) income attributable to Huntsman International LLC
|
|
$
|
(51)
|
|
$
|
(337)
|
|
$
|
391
|
|
$
|
(55)
|
|
$
|
(52)
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2015
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
International
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
LLC
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
1,054
|
|
$
|
2,121
|
|
$
|
4,833
|
|
$
|
—
|
|
$
|
8,008
|
|
Related party sales
|
|
|
238
|
|
|
365
|
|
|
969
|
|
|
(1,441)
|
|
|
131
|
|
Total revenues
|
|
|
1,292
|
|
|
2,486
|
|
|
5,802
|
|
|
(1,441)
|
|
|
8,139
|
|
Cost of goods sold
|
|
|
1,026
|
|
|
1,925
|
|
|
4,889
|
|
|
(1,439)
|
|
|
6,401
|
|
Gross profit
|
|
|
266
|
|
|
561
|
|
|
913
|
|
|
(2)
|
|
|
1,738
|
|
Selling, general and administrative
|
|
|
172
|
|
|
113
|
|
|
501
|
|
|
—
|
|
|
786
|
|
Research and development
|
|
|
54
|
|
|
44
|
|
|
45
|
|
|
—
|
|
|
143
|
|
Restructuring, impairment and plant closing costs
|
|
|
7
|
|
|
5
|
|
|
71
|
|
|
—
|
|
|
83
|
|
Other operating (income) expense, net
|
|
|
(27)
|
|
|
(25)
|
|
|
53
|
|
|
—
|
|
|
1
|
|
Operating income
|
|
|
60
|
|
|
424
|
|
|
243
|
|
|
(2)
|
|
|
725
|
|
Interest (expense) income
|
|
|
(220)
|
|
|
33
|
|
|
(27)
|
|
|
—
|
|
|
(214)
|
|
Equity in income (loss) of investment in affiliates and subsidiaries
|
|
|
169
|
|
|
(58)
|
|
|
7
|
|
|
(112)
|
|
|
6
|
|
Loss on early extinguishment of debt
|
|
|
(31)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(31)
|
|
Other income, net
|
|
|
2
|
|
|
—
|
|
|
7
|
|
|
(2)
|
|
|
7
|
|
(Loss) income from continuing operations before income taxes
|
|
|
(20)
|
|
|
399
|
|
|
230
|
|
|
(116)
|
|
|
493
|
|
Income tax benefit (expense)
|
|
|
113
|
|
|
(125)
|
|
|
13
|
|
|
(60)
|
|
|
(59)
|
|
Income from continuing operations
|
|
|
93
|
|
|
274
|
|
|
243
|
|
|
(176)
|
|
|
434
|
|
Income (loss) from discontinued operations, net of tax
|
|
|
1
|
|
|
(2)
|
|
|
(306)
|
|
|
—
|
|
|
(307)
|
|
Net income (loss)
|
|
|
94
|
|
|
272
|
|
|
(63)
|
|
|
(176)
|
|
|
127
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(28)
|
|
|
(5)
|
|
|
(33)
|
|
Net income (loss) attributable to Huntsman International LLC
|
|
$
|
94
|
|
$
|
272
|
|
$
|
(91)
|
|
$
|
(181)
|
|
$
|
94
|
|
Net income (loss)
|
|
$
|
94
|
|
$
|
272
|
|
$
|
(63)
|
|
$
|
(176)
|
|
$
|
127
|
|
Other comprehensive loss
|
|
|
(229)
|
|
|
(37)
|
|
|
(246)
|
|
|
278
|
|
|
(234)
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(13)
|
|
|
(15)
|
|
|
(28)
|
|
Comprehensive (loss) income attributable to Huntsman International LLC
|
|
$
|
(135)
|
|
$
|
235
|
|
$
|
(322)
|
|
$
|
87
|
|
$
|
(135)
|
|
| CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2017
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
Net cash provided by (used in) operating activities from continuing operations
|
|
$
|
859
|
|
$
|
587
|
|
$
|
(137)
|
|
$
|
(473)
|
|
$
|
836
|
|
Net cash (used in) provided by operating activities from discontinued operations
|
|
|
(19)
|
|
|
(2)
|
|
|
393
|
|
|
—
|
|
|
372
|
|
Net cash provided by (used in) operating activities
|
|
|
840
|
|
|
585
|
|
|
256
|
|
|
(473)
|
|
|
1,208
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(49)
|
|
|
(69)
|
|
|
(164)
|
|
|
—
|
|
|
(282)
|
|
Cash received from (paid for) consolidated affiliates
|
|
|
870
|
|
|
(2)
|
|
|
(276)
|
|
|
(592)
|
|
|
—
|
|
Acquisition of business, net of cash acquired
|
|
|
—
|
|
|
—
|
|
|
(14)
|
|
|
—
|
|
|
(14)
|
|
Proceeds from sale of businesses/assets
|
|
|
—
|
|
|
—
|
|
|
25
|
|
|
—
|
|
|
25
|
|
Increase in receivable from affiliate
|
|
|
(15)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(15)
|
|
Cash received from termination of cross-currency interest rate contracts
|
|
|
7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7
|
|
Net cash provided by (used in) investing activities from continuing operations
|
|
|
813
|
|
|
(71)
|
|
|
(429)
|
|
|
(592)
|
|
|
(279)
|
|
Net cash used in investing activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
(159)
|
|
|
—
|
|
|
(159)
|
|
Net cash provided by (used in) investing activities
|
|
|
813
|
|
|
(71)
|
|
|
(588)
|
|
|
(592)
|
|
|
(438)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments under revolving loan facilities
|
|
|
—
|
|
|
—
|
|
|
(41)
|
|
|
—
|
|
|
(41)
|
|
Net borrowings on overdraft facilities
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
1
|
|
Repayments of short-term debt
|
|
|
—
|
|
|
—
|
|
|
(15)
|
|
|
—
|
|
|
(15)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
—
|
|
|
8
|
|
Repayments of long-term debt
|
|
|
(2,026)
|
|
|
—
|
|
|
(32)
|
|
|
—
|
|
|
(2,058)
|
|
Proceeds from long-term debt of P&A Business
|
|
|
—
|
|
|
—
|
|
|
750
|
|
|
—
|
|
|
750
|
|
Proceeds from issuance of long-term debt
|
|
|
—
|
|
|
—
|
|
|
24
|
|
|
—
|
|
|
24
|
|
Proceeds from issuance of notes payable from affiliate
|
|
|
47
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47
|
|
Repayments of notes payable
|
|
|
(27)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(27)
|
|
Borrowings on notes payable
|
|
|
31
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
31
|
|
Debt issuance costs paid
|
|
|
(3)
|
|
|
—
|
|
|
(18)
|
|
|
—
|
|
|
(21)
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(34)
|
|
|
—
|
|
|
(34)
|
|
Contribution from noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
5
|
|
Distribution to parent
|
|
|
—
|
|
|
(511)
|
|
|
(81)
|
|
|
592
|
|
|
—
|
|
Dividends paid to parent
|
|
|
(120)
|
|
|
(1)
|
|
|
(472)
|
|
|
473
|
|
|
(120)
|
|
Proceeds from the IPO and secondary offering of P&A Business
|
|
|
522
|
|
|
—
|
|
|
490
|
|
|
—
|
|
|
1,012
|
|
Cash paid for expenses of the IPO and secondary offering of P&A Business
|
|
|
(40)
|
|
|
—
|
|
|
(18)
|
|
|
—
|
|
|
(58)
|
|
Other, net
|
|
|
—
|
|
|
(2)
|
|
|
3
|
|
|
—
|
|
|
1
|
|
Net cash (used in) provided by financing activities
|
|
|
(1,616)
|
|
|
(514)
|
|
|
570
|
|
|
1,065
|
|
|
(495)
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
18
|
|
|
—
|
|
|
18
|
|
Increase in cash and cash equivalents
|
|
|
37
|
|
|
—
|
|
|
256
|
|
|
—
|
|
|
293
|
|
Cash and cash equivalents from continuing operations at beginning of period
|
|
|
37
|
|
|
—
|
|
|
347
|
|
|
—
|
|
|
384
|
|
Cash and cash equivalents from discontinued operations at beginning of period
|
|
|
—
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
29
|
|
Cash and cash equivalents at end of period
|
|
$
|
74
|
|
$
|
—
|
|
$
|
632
|
|
$
|
—
|
|
$
|
706
|
During the year ended December 31, 2017, we made a noncash capital contribution of approximately $50 million between Parent Company and Guarantor entities.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2016
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
Net cash provided by operating activities from continuing operations
|
|
$
|
457
|
|
$
|
120
|
|
$
|
391
|
|
$
|
—
|
|
$
|
968
|
|
Net cash (used in) provided by operating activities from discontinued operations
|
|
|
(11)
|
|
|
—
|
|
|
121
|
|
|
—
|
|
|
110
|
|
Net cash provided by operating activities
|
|
|
446
|
|
|
120
|
|
|
512
|
|
|
—
|
|
|
1,078
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(42)
|
|
|
(92)
|
|
|
(184)
|
|
|
—
|
|
|
(318)
|
|
Cash received from consolidated affiliates
|
|
|
203
|
|
|
—
|
|
|
—
|
|
|
(203)
|
|
|
—
|
|
Investment in affiliate
|
|
|
—
|
|
|
(3)
|
|
|
—
|
|
|
3
|
|
|
—
|
|
Investment in unconsolidated affiliate
|
|
|
—
|
|
|
—
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
Proceeds from sale of businesses/assets
|
|
|
12
|
|
|
—
|
|
|
187
|
|
|
—
|
|
|
199
|
|
Decrease in receivable in affiliate
|
|
|
6
|
|
|
—
|
|
|
6
|
|
|
(6)
|
|
|
6
|
|
Change in restricted cash
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
1
|
|
Other, net
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
1
|
|
Net cash provided by (used in) investing activities from continuing operations
|
|
|
179
|
|
|
(95)
|
|
|
10
|
|
|
(206)
|
|
|
(112)
|
|
Net cash used in investing activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
(83)
|
|
|
—
|
|
|
(83)
|
|
Net cash provided by (used in) investing activities
|
|
|
179
|
|
|
(95)
|
|
|
(73)
|
|
|
(206)
|
|
|
(195)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments on overdraft facilities
|
|
$
|
—
|
|
$
|
—
|
|
$
|
(1)
|
|
$
|
—
|
|
$
|
(1)
|
|
Repayments of short-term debt
|
|
|
—
|
|
|
—
|
|
|
(56)
|
|
|
—
|
|
|
(56)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
10
|
|
Repayments of long-term debt
|
|
|
(1,039)
|
|
|
—
|
|
|
(31)
|
|
|
—
|
|
|
(1,070)
|
|
Proceeds from issuance of long-term debt
|
|
|
543
|
|
|
—
|
|
|
16
|
|
|
—
|
|
|
559
|
|
Repayments of notes payable to affiliate
|
|
|
(7)
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
(1)
|
|
Repayments of notes payable
|
|
|
(31)
|
|
|
—
|
|
|
(2)
|
|
|
—
|
|
|
(33)
|
|
Borrowings on notes payable
|
|
|
29
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
31
|
|
Debt issuance costs paid
|
|
|
(9)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(9)
|
|
Call premiums related to early extinguishment of debt
|
|
|
(1)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1)
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(45)
|
|
|
15
|
|
|
(30)
|
|
Contribution from parent
|
|
|
—
|
|
|
3
|
|
|
11
|
|
|
(14)
|
|
|
—
|
|
Distribution to parent
|
|
|
—
|
|
|
(27)
|
|
|
(171)
|
|
|
198
|
|
|
—
|
|
Dividends paid to parent
|
|
|
(119)
|
|
|
(1)
|
|
|
—
|
|
|
1
|
|
|
(119)
|
|
Other, net
|
|
|
2
|
|
|
—
|
|
|
(3)
|
|
|
—
|
|
|
(1)
|
|
Net cash used in financing activities
|
|
|
(632)
|
|
|
(25)
|
|
|
(270)
|
|
|
206
|
|
|
(721)
|
|
Effect of exchange rate changes on cash from continuing operations
|
|
|
—
|
|
|
—
|
|
|
(6)
|
|
|
—
|
|
|
(6)
|
|
(Decrease) increase in cash and cash equivalents
|
|
|
(7)
|
|
|
—
|
|
|
163
|
|
|
—
|
|
|
156
|
|
Cash and cash equivalents from continuing operations at beginning of period
|
|
|
44
|
|
|
—
|
|
|
192
|
|
|
—
|
|
|
236
|
|
Cash and cash equivalents from discontinued operations at beginning of period
|
|
|
—
|
|
|
—
|
|
|
21
|
|
|
—
|
|
|
21
|
|
Cash and cash equivalents at end of period
|
|
$
|
37
|
|
$
|
—
|
|
$
|
376
|
|
$
|
—
|
|
$
|
413
|
During the second quarter of 2016 and the fourth quarter of 2016, we made noncash capital contributions of approximately $215 million and approximately $75 million, respectively, between Parent and certain Nonguarantors.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
YEAR ENDED DECEMBER 31, 2015
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
International
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
LLC
|
|
Net cash provided by operating activities from continuing operations
|
|
$
|
(23)
|
|
$
|
229
|
|
$
|
410
|
|
$
|
(2)
|
|
$
|
614
|
|
Net cash used in operating activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
(44)
|
|
|
—
|
|
|
(44)
|
|
Net cash provided by operating activities
|
|
|
(23)
|
|
|
229
|
|
|
366
|
|
|
(2)
|
|
|
570
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(70)
|
|
|
(200)
|
|
|
(191)
|
|
|
—
|
|
|
(461)
|
|
Investment in affiliate
|
|
|
34
|
|
|
(5)
|
|
|
(6)
|
|
|
(23)
|
|
|
—
|
|
Investment in unconsolidated affiliates
|
|
|
—
|
|
|
—
|
|
|
(12)
|
|
|
—
|
|
|
(12)
|
|
Acquisition of businesses, net of cash acquired
|
|
|
—
|
|
|
—
|
|
|
(14)
|
|
|
—
|
|
|
(14)
|
|
Proceeds from sale of businesses/assets
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
1
|
|
Decrease in receivable from affiliate
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
Cash received from purchase price adjustment for business acquired
|
|
|
18
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
18
|
|
Cash received from termination of cross-currency interest rate contracts
|
|
|
66
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
66
|
|
Change in restricted cash
|
|
|
—
|
|
|
—
|
|
|
(3)
|
|
|
—
|
|
|
(3)
|
|
Other, net
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
Net cash provided by (used in) investing activities from continuing operations
|
|
|
50
|
|
|
(205)
|
|
|
(225)
|
|
|
(23)
|
|
|
(403)
|
|
Net cash used in investing activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
(196)
|
|
|
—
|
|
|
(196)
|
|
Net cash provided by (used in) investing activities
|
|
|
50
|
|
|
(205)
|
|
|
(421)
|
|
|
(23)
|
|
|
(599)
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments under revolving loan facilities
|
|
|
—
|
|
|
—
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
Net repayments on overdraft facilities
|
|
|
—
|
|
|
—
|
|
|
(8)
|
|
|
—
|
|
|
(8)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
12
|
|
Repayments of long-term debt
|
|
|
(548)
|
|
|
—
|
|
|
(56)
|
|
|
—
|
|
|
(604)
|
|
Proceeds from issuance of long-term debt
|
|
|
326
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
326
|
|
Repayments of notes payable to affiliate
|
|
|
(148)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(148)
|
|
Proceeds from notes payable to affiliate
|
|
|
201
|
|
|
—
|
|
|
—
|
|
|
(6)
|
|
|
195
|
|
Repayments of notes payable
|
|
|
(32)
|
|
|
—
|
|
|
(1)
|
|
|
—
|
|
|
(33)
|
|
Borrowings on notes payable
|
|
|
32
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
34
|
|
Debt issuance costs paid
|
|
|
(8)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8)
|
|
Call premiums related to early extinguishment of debt
|
|
|
(35)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(35)
|
|
Contingent consideration paid for acquisition
|
|
|
(4)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4)
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(20)
|
|
|
6
|
|
|
(14)
|
|
Contribution from parent
|
|
|
—
|
|
|
5
|
|
|
6
|
|
|
(11)
|
|
|
—
|
|
Distribution to parent
|
|
|
—
|
|
|
(27)
|
|
|
(7)
|
|
|
34
|
|
|
—
|
|
Dividends paid to parent
|
|
|
(121)
|
|
|
(2)
|
|
|
—
|
|
|
2
|
|
|
(121)
|
|
Other, net
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
Net cash used in financing activities
|
|
|
(336)
|
|
|
(24)
|
|
|
(73)
|
|
|
25
|
|
|
(408)
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
(16)
|
|
|
—
|
|
|
(16)
|
|
Decrease in cash and cash equivalents
|
|
|
(309)
|
|
|
—
|
|
|
(144)
|
|
|
—
|
|
|
(453)
|
|
Cash and cash equivalents from continuing operations at beginning of period
|
|
|
353
|
|
|
—
|
|
|
322
|
|
|
—
|
|
|
675
|
|
Cash and cash equivalents from discontinued operations at beginning of period
|
|
|
—
|
|
|
—
|
|
|
35
|
|
|
—
|
|
|
35
|
|
Cash and cash equivalents at end of period
|
|
$
|
44
|
|
$
|
—
|
|
$
|
213
|
|
$
|
—
|
|
$
|
257
|
During the first quarter of 2015, we made a noncash capital contribution of approximately $284 million between Guarantor entities and Nonguarantor entities and a noncash capital contribution of approximately $123 million between Parent Company and Guarantor entities
|