Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

 v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
In Millions, except Per Share data
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Trade sales, services and fees, net $ 2,896 $ 2,280 $ 5,522 $ 4,329
Related party sales 38 63 91 108
Total revenues 2,934 2,343 5,613 4,437
Cost of goods sold 2,433 1,958 4,652 3,771
Gross profit 501 385 961 666
Operating expenses:        
Selling, general and administrative 256 208 474 426
Research and development 42 36 81 72
Other operating (income) expense (26) (3) 8 (1)
Restructuring, impairment and plant closing costs 9 17 16 20
Total expenses 281 258 579 517
Operating income 220 127 382 149
Interest expense, net (65) (43) (124) (104)
Equity in income of investment in unconsolidated affiliates 2 16 4 17
Loss on early extinguishment of debt   (7) (3) (162)
Expenses associated with the Terminated Merger and related litigation   (1)   (1)
Other income 1 1 1 1
Income (loss) from continuing operations before income taxes 158 93 260 (100)
Income tax expense (34) (39) (56) (5)
Income (loss) from continuing operations 124 54 204 (105)
(Loss) income from discontinued operations, net of tax (1) 62 (15) 49
Income (loss) before extraordinary gain 123 116 189 (56)
Extraordinary gain on the acquisition of a business, net of tax of nil 1   2  
Net income (loss) 124 116 191 (56)
Net income attributable to noncontrolling interests (10) (2) (15) (2)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC 114 114 176 (58)
Net income (loss) 124 116 191 (56)
Other comprehensive income (loss) 60 (64) 156 (108)
Comprehensive income (loss) 184 52 347 (164)
Comprehensive income attributable to noncontrolling interests (10) (2) (16) (2)
Comprehensive income (loss) attributable to Huntsman Corporation or Huntsman International LLC 174 50 331 (166)
Basic income (loss) per share:        
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.48 $ 0.22 $ 0.79 $ (0.46)
Income (loss) from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)   $ 0.26 $ (0.06) $ 0.21
Extraordinary gain on the acquisition of a business attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     $ 0.01  
Net income (loss) attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.48 $ 0.48 $ 0.74 $ (0.25)
Weighted average shares (in shares) 239.4 236.4 238.5 235.6
Diluted income (loss) per share:        
Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.47 $ 0.21 $ 0.78 $ (0.46)
Income (loss) from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)   $ 0.26 $ (0.07) $ 0.21
Extraordinary gain on the acquisition of a business attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     $ 0.01  
Net income (loss) attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.47 $ 0.47 $ 0.72 $ (0.25)
Weighted average shares (in shares) 243.7 240.8 243.2 235.6
Amounts attributable to Huntsman Corporation common stockholders:        
Income (loss) from continuing operations 114 52 189 (107)
(Loss) income from discontinued operations, net of tax (1) 62 (15) 49
Extraordinary gain on the acquisition of a business, net of tax 1   2  
Net income (loss) 114 114 176 (58)
Dividends per share (in dollars per share) $ 0.10 $ 0.10 $ 0.20 $ 0.20
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
        
Revenues:        
Trade sales, services and fees, net 2,896 2,280 5,522 4,329
Related party sales 38 63 91 108
Total revenues 2,934 2,343 5,613 4,437
Cost of goods sold 2,429 1,955 4,643 3,763
Gross profit 505 388 970 674
Operating expenses:        
Selling, general and administrative 255 208 472 423
Research and development 42 36 81 72
Other operating (income) expense (26) (4) 8 (11)
Restructuring, impairment and plant closing costs 9 17 16 20
Total expenses 280 257 577 504
Operating income 225 131 393 170
Interest expense, net (67) (47) (131) (113)
Equity in income of investment in unconsolidated affiliates 2 16 4 17
Loss on early extinguishment of debt   (7) (3) (16)
Other income 1 2 1 2
Income (loss) from continuing operations before income taxes 161 95 264 60
Income tax expense (34) (38) (56) (16)
Income (loss) from continuing operations 127 57 208 44
(Loss) income from discontinued operations, net of tax (1) 62 (15) 49
Income (loss) before extraordinary gain 126 119 193 93
Extraordinary gain on the acquisition of a business, net of tax of nil 1   2  
Net income (loss) 127 119 195 93
Net income attributable to noncontrolling interests (10) (2) (15) (2)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC 117 117 180 91
Net income (loss) 127 119 195 93
Other comprehensive income (loss) 61 (63) 159 (106)
Comprehensive income (loss) 188 56 354 (13)
Comprehensive income attributable to noncontrolling interests (10) (2) (16) (2)
Comprehensive income (loss) attributable to Huntsman Corporation or Huntsman International LLC 178 54 338 (15)
Amounts attributable to Huntsman Corporation common stockholders:        
Net income (loss) $ 117 $ 117 $ 180 $ 91