Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

6 Months Ended

Jun. 30, 2011

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS

Accrued restructuring costs by type of cost and initiative

Workforce reductions(1)		Demolition and decommissioning			Noncancelable lease costs			Other restructuring costs			Total(2)
Accrued liabilities as of January 1, 2011	$	36		$	1		$	1		$	11		$	49
2011 charges for 2006 and prior initiatives		1						1						2
2011 charges for 2009 initiatives		1									2			3
2011 charges for 2010 initiatives					2						1			3
2011 charges for 2011 initiatives		11												11
Reversal of reserves no longer required		(3	)											(3	)
2011 payments for 2006 and prior initiatives								(1	)					(1	)
2011 payments for 2008 initiatives		(1	)											(1	)
2011 payments for 2009 initiatives		(2	)								(3	)		(5	)
2011 payments for 2010 initiatives		(9	)		(2	)					(1	)		(12	)
2011 payments for 2011 initiatives		(1	)											(1	)
Net activity of discontinued operations											(1	)		(1	)
Foreign currency effect on liability balance		3			(1	)								2

Accrued liabilities as of June 30, 2011	$	36		$			$	1		$	9		$	46

(1): The total workforce reduction reserves of $36 million relate to the termination of 255 positions, of which 218 positions had not been terminated as of June 30, 2011.
(2): Accrued liabilities by initiatives were as follows (dollars in millions):

Accrued restructuring costs by type of initiative

	June 30, 2011		December 31, 2010

2006 initiatives and prior	$	5	$	4
2008 initiatives				1
2009 initiatives		17		20
2010 initiatives		14		24
2011 initiatives		10

Total	$	46	$	49

Details with respect to reserves for restructuring, impairment and plant closing costs, provided by segment and initiative

	Polyurethanes	Performance Products		Advanced Materials		Textile Effects			Pigments			Discontinued Operations			Corporate and Other			Total

Accrued liabilities as of January 1, 2011	$	$	1	$	2	$	25		$	8		$	8		$	5		$	49
2011 charges for 2006 and prior initiatives							1			1									2
2011 charges for 2009 initiatives										3									3
2011 charges for 2010 initiatives							2									1			3
2011 charges for 2011 initiatives					3		5			3									11
Reversal of reserves no longer required							(3	)											(3	)
2011 payments for 2006 and prior initiatives							(1	)											(1	)
2011 payments for 2008 initiatives										(1	)								(1	)
2011 payments for 2009 initiatives										(5	)								(5	)
2011 payments for 2010 initiatives							(8	)								(4	)		(12	)
2011 payments for 2011 initiatives							(1	)											(1	)
Net activity of discontinued operations													(1	)					(1	)
Foreign currency effect on liability balance							3			(1	)								2

Accrued liabilities as of June 30, 2011	$	$	1	$	5	$	23		$	8		$	7		$	2		$	46

Current portion of restructuring reserves	$	$	1	$	4	$	23		$	8		$	7		$	2		$	45
Long-term portion of restructuring reserve					1														1
Estimated additional future charges for current restructuring projects
Estimated additional charges within one year										5									5
Estimated additional charges beyond one year

Cash and non-cash restructuring charges by initiative

		Three Months Ended June 30, 2011			Six Months Ended June 30, 2011

Cash charges:
	2011 charges for 2006 and prior initiatives	$			$	2
	2011 charges for 2009 initiatives		2			3
	2011 charges for 2010 initiatives		2			3
	2011 charges for 2011 initiatives		6			11
Reversal of reserves no longer required			(1	)		(3	)

Total 2011 Restructuring, Impairment and Plant Closing Costs		$	9		$	16

		Three Months Ended June 30, 2010			Six Months Ended June 30, 2010

Cash charges:
	2010 charges for 2005 initiatives	$	1		$	1
	2010 charges for 2009 initiatives		3			5
	2010 charges for 2010 initiatives		16			20
Reversal of reserves no longer required			(3	)		(6	)

Total 2010 Restructuring, Impairment and Plant Closing Costs		$	17		$	20

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References + Details