| CONDENSED CONSOLIDATING FINANCIAL INFORMATION - HUNTSMAN INTERNATIONAL |
20. CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC
The following unaudited condensed consolidating financial statements present, in separate columns, financial information for the following: Huntsman International (on a parent only basis), with its investment in subsidiaries recorded under the equity method; the Guarantors on a combined, and where appropriate, consolidated basis; and the Nonguarantors on a combined, and where appropriate, consolidated basis. Additional columns present eliminating adjustments and consolidated totals as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017. There are no contractual restrictions limiting transfers of cash from the Guarantors to Huntsman International. Each of the Guarantors is 100% owned by Huntsman International and has fully and unconditionally guaranteed, subject to certain customary release provisions, Huntsman International’s outstanding notes on a joint and several basis.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF MARCH 31, 2018
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
63
|
|
$
|
—
|
|
$
|
381
|
|
$
|
—
|
|
$
|
444
|
|
Restricted cash
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|
—
|
|
|
9
|
|
Accounts and notes receivable, net
|
|
|
29
|
|
|
110
|
|
|
1,229
|
|
|
6
|
|
|
1,374
|
|
Accounts receivable from affiliates
|
|
|
971
|
|
|
4,236
|
|
|
589
|
|
|
(5,403)
|
|
|
393
|
|
Inventories
|
|
|
118
|
|
|
223
|
|
|
864
|
|
|
(2)
|
|
|
1,203
|
|
Prepaid expenses
|
|
|
20
|
|
|
9
|
|
|
46
|
|
|
(7)
|
|
|
68
|
|
Other current assets
|
|
|
786
|
|
|
2
|
|
|
175
|
|
|
(767)
|
|
|
196
|
|
Current assets held for sale
|
|
|
—
|
|
|
—
|
|
|
3,060
|
|
|
—
|
|
|
3,060
|
|
Total current assets
|
|
|
1,987
|
|
|
4,580
|
|
|
6,353
|
|
|
(6,173)
|
|
|
6,747
|
|
Property, plant and equipment, net
|
|
|
459
|
|
|
1,101
|
|
|
1,555
|
|
|
—
|
|
|
3,115
|
|
Investment in unconsolidated affiliates
|
|
|
6,864
|
|
|
2,691
|
|
|
284
|
|
|
(9,555)
|
|
|
284
|
|
Intangible assets, net
|
|
|
25
|
|
|
—
|
|
|
30
|
|
|
—
|
|
|
55
|
|
Goodwill
|
|
|
(15)
|
|
|
82
|
|
|
74
|
|
|
—
|
|
|
141
|
|
Deferred income taxes
|
|
|
335
|
|
|
—
|
|
|
212
|
|
|
(335)
|
|
|
212
|
|
Notes receivable from affiliates
|
|
|
72
|
|
|
582
|
|
|
—
|
|
|
(654)
|
|
|
—
|
|
Other noncurrent assets
|
|
|
48
|
|
|
178
|
|
|
286
|
|
|
(1)
|
|
|
511
|
|
Total assets
|
|
$
|
9,775
|
|
$
|
9,214
|
|
$
|
8,794
|
|
$
|
(16,718)
|
|
$
|
11,065
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
55
|
|
$
|
232
|
|
$
|
667
|
|
$
|
7
|
|
$
|
961
|
|
Accounts payable to affiliates
|
|
|
4,206
|
|
|
518
|
|
|
769
|
|
|
(5,404)
|
|
|
89
|
|
Accrued liabilities
|
|
|
82
|
|
|
819
|
|
|
404
|
|
|
(774)
|
|
|
531
|
|
Note payable to affiliate
|
|
|
100
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100
|
|
Current portion of debt
|
|
|
13
|
|
|
—
|
|
|
23
|
|
|
—
|
|
|
36
|
|
Current liabilities held for sale
|
|
|
—
|
|
|
—
|
|
|
1,721
|
|
|
—
|
|
|
1,721
|
|
Total current liabilities
|
|
|
4,456
|
|
|
1,569
|
|
|
3,584
|
|
|
(6,171)
|
|
|
3,438
|
|
Long-term debt
|
|
|
1,964
|
|
|
—
|
|
|
334
|
|
|
—
|
|
|
2,298
|
|
Notes payable to affiliates
|
|
|
702
|
|
|
—
|
|
|
654
|
|
|
(654)
|
|
|
702
|
|
Deferred income taxes
|
|
|
12
|
|
|
186
|
|
|
43
|
|
|
30
|
|
|
271
|
|
Other noncurrent liabilities
|
|
|
221
|
|
|
269
|
|
|
587
|
|
|
—
|
|
|
1,077
|
|
Total liabilities
|
|
|
7,355
|
|
|
2,024
|
|
|
5,202
|
|
|
(6,795)
|
|
|
7,786
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Huntsman International LLC members’ equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members’ equity
|
|
|
3,639
|
|
|
2,210
|
|
|
3,765
|
|
|
(5,975)
|
|
|
3,639
|
|
(Accumulated deficit) retained earnings
|
|
|
(28)
|
|
|
3,030
|
|
|
100
|
|
|
(3,130)
|
|
|
(28)
|
|
Accumulated other comprehensive (loss) income
|
|
|
(1,191)
|
|
|
1,950
|
|
|
(1,128)
|
|
|
(822)
|
|
|
(1,191)
|
|
Total Huntsman International LLC members’ equity
|
|
|
2,420
|
|
|
7,190
|
|
|
2,737
|
|
|
(9,927)
|
|
|
2,420
|
|
Noncontrolling interests in subsidiaries
|
|
|
—
|
|
|
—
|
|
|
855
|
|
|
4
|
|
|
859
|
|
Total equity
|
|
|
2,420
|
|
|
7,190
|
|
|
3,592
|
|
|
(9,923)
|
|
|
3,279
|
|
Total liabilities and equity
|
|
$
|
9,775
|
|
$
|
9,214
|
|
$
|
8,794
|
|
$
|
(16,718)
|
|
$
|
11,065
|
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 STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME
THREE MONTHS ENDED MARCH 31, 2018
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
295
|
|
$
|
599
|
|
$
|
1,361
|
|
$
|
—
|
|
$
|
2,255
|
|
Related party sales
|
|
|
48
|
|
|
95
|
|
|
295
|
|
|
(398)
|
|
|
40
|
|
Total revenues
|
|
|
343
|
|
|
694
|
|
|
1,656
|
|
|
(398)
|
|
|
2,295
|
|
Cost of goods sold
|
|
|
286
|
|
|
580
|
|
|
1,289
|
|
|
(401)
|
|
|
1,754
|
|
Gross profit
|
|
|
57
|
|
|
114
|
|
|
367
|
|
|
3
|
|
|
541
|
|
Selling, general and administrative
|
|
|
58
|
|
|
24
|
|
|
109
|
|
|
—
|
|
|
191
|
|
Research and development
|
|
|
12
|
|
|
11
|
|
|
15
|
|
|
—
|
|
|
38
|
|
Restructuring, impairment and plant closing costs (credits)
|
|
|
6
|
|
|
—
|
|
|
(4)
|
|
|
—
|
|
|
2
|
|
Other operating expense (income), net
|
|
|
16
|
|
|
(3)
|
|
|
(1)
|
|
|
—
|
|
|
12
|
|
Operating (expense) income
|
|
|
(35)
|
|
|
82
|
|
|
248
|
|
|
3
|
|
|
298
|
|
Interest (expense) income
|
|
|
(33)
|
|
|
6
|
|
|
(5)
|
|
|
—
|
|
|
(32)
|
|
Equity in income of investment in affiliates and subsidiaries
|
|
|
284
|
|
|
258
|
|
|
13
|
|
|
(542)
|
|
|
13
|
|
Dividend income
|
|
|
43
|
|
|
—
|
|
|
—
|
|
|
(43)
|
|
|
—
|
|
Other (expense) income, net
|
|
|
(1)
|
|
|
(1)
|
|
|
8
|
|
|
—
|
|
|
6
|
|
Income from continuing operations before income taxes
|
|
|
258
|
|
|
345
|
|
|
264
|
|
|
(582)
|
|
|
285
|
|
Income tax benefit (expense)
|
|
|
10
|
|
|
(21)
|
|
|
(41)
|
|
|
—
|
|
|
(52)
|
|
Income from continuing operations
|
|
|
268
|
|
|
324
|
|
|
223
|
|
|
(582)
|
|
|
233
|
|
Income from discontinued operations, net of tax
|
|
|
3
|
|
|
—
|
|
|
111
|
|
|
—
|
|
|
114
|
|
Net income
|
|
|
271
|
|
|
324
|
|
|
334
|
|
|
(582)
|
|
|
347
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(75)
|
|
|
(1)
|
|
|
(76)
|
|
Net income attributable to Huntsman International LLC
|
|
$
|
271
|
|
$
|
324
|
|
$
|
259
|
|
$
|
(583)
|
|
$
|
271
|
|
Net income
|
|
$
|
271
|
|
$
|
324
|
|
$
|
334
|
|
$
|
(582)
|
|
$
|
347
|
|
Other comprehensive income
|
|
|
70
|
|
|
223
|
|
|
118
|
|
|
(306)
|
|
|
105
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(83)
|
|
|
—
|
|
|
(83)
|
|
Comprehensive income attributable to Huntsman International LLC
|
|
$
|
341
|
|
$
|
547
|
|
$
|
369
|
|
$
|
(888)
|
|
$
|
369
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME
THREE MONTHS ENDED MARCH 31, 2017
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade sales, services and fees, net
|
|
$
|
247
|
|
$
|
526
|
|
$
|
1,118
|
|
$
|
—
|
|
$
|
1,891
|
|
Related party sales
|
|
|
57
|
|
|
82
|
|
|
260
|
|
|
(358)
|
|
|
41
|
|
Total revenues
|
|
|
304
|
|
|
608
|
|
|
1,378
|
|
|
(358)
|
|
|
1,932
|
|
Cost of goods sold
|
|
|
247
|
|
|
527
|
|
|
1,122
|
|
|
(356)
|
|
|
1,540
|
|
Gross profit
|
|
|
57
|
|
|
81
|
|
|
256
|
|
|
(2)
|
|
|
392
|
|
Selling, general and administrative
|
|
|
49
|
|
|
31
|
|
|
110
|
|
|
—
|
|
|
190
|
|
Research and development
|
|
|
11
|
|
|
10
|
|
|
13
|
|
|
—
|
|
|
34
|
|
Restructuring, impairment and plant closing costs
|
|
|
1
|
|
|
—
|
|
|
8
|
|
|
—
|
|
|
9
|
|
Other operating expense (income), net
|
|
|
3
|
|
|
(15)
|
|
|
6
|
|
|
—
|
|
|
(6)
|
|
Operating (expense) income
|
|
|
(7)
|
|
|
55
|
|
|
119
|
|
|
(2)
|
|
|
165
|
|
Interest (expense) income
|
|
|
(50)
|
|
|
6
|
|
|
(7)
|
|
|
—
|
|
|
(51)
|
|
Equity in income of investment in affiliates and subsidiaries
|
|
|
124
|
|
|
95
|
|
|
1
|
|
|
(220)
|
|
|
—
|
|
Dividend income
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
(1)
|
|
|
—
|
|
Other income, net
|
|
|
1
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
4
|
|
Income from continuing operations before income taxes
|
|
|
68
|
|
|
156
|
|
|
117
|
|
|
(223)
|
|
|
118
|
|
Income tax benefit (expense)
|
|
|
14
|
|
|
(23)
|
|
|
(10)
|
|
|
—
|
|
|
(19)
|
|
Income from continuing operations
|
|
|
82
|
|
|
133
|
|
|
107
|
|
|
(223)
|
|
|
99
|
|
Loss from discontinued operations, net of tax
|
|
|
(7)
|
|
|
—
|
|
|
(1)
|
|
|
—
|
|
|
(8)
|
|
Net income
|
|
|
75
|
|
|
133
|
|
|
106
|
|
|
(223)
|
|
|
91
|
|
Net income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(16)
|
|
|
—
|
|
|
(16)
|
|
Net income attributable to Huntsman International LLC
|
|
$
|
75
|
|
$
|
133
|
|
$
|
90
|
|
$
|
(223)
|
|
$
|
75
|
|
Net income
|
|
$
|
75
|
|
$
|
133
|
|
$
|
106
|
|
$
|
(223)
|
|
$
|
91
|
|
Other comprehensive income
|
|
|
95
|
|
|
122
|
|
|
97
|
|
|
(215)
|
|
|
99
|
|
Comprehensive income attributable to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(15)
|
|
|
(3)
|
|
|
(18)
|
|
Comprehensive income attributable to Huntsman International LLC
|
|
$
|
170
|
|
$
|
255
|
|
$
|
188
|
|
$
|
(441)
|
|
$
|
172
|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2018
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
Net cash provided by (used in) operating activities from continuing operations
|
|
$
|
171
|
|
$
|
22
|
|
$
|
(47)
|
|
$
|
(41)
|
|
$
|
105
|
|
Net cash provided by operating activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
52
|
|
|
—
|
|
|
52
|
|
Net cash provided by operating activities
|
|
|
171
|
|
|
22
|
|
|
5
|
|
|
(41)
|
|
|
157
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(5)
|
|
|
(15)
|
|
|
(35)
|
|
|
—
|
|
|
(55)
|
|
Cash paid to consolidated affiliates
|
|
|
(70)
|
|
|
(1)
|
|
|
—
|
|
|
71
|
|
|
—
|
|
Acquisition of business, net of cash acquired
|
|
|
(15)
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
(14)
|
|
Increase in receivable from affiliate
|
|
|
(9)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(9)
|
|
Net cash used in investing activities from continuing operations
|
|
|
(99)
|
|
|
(16)
|
|
|
(34)
|
|
|
71
|
|
|
(78)
|
|
Net cash used in investing activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
(67)
|
|
|
—
|
|
|
(67)
|
|
Net cash used in investing activities
|
|
|
(99)
|
|
|
(16)
|
|
|
(101)
|
|
|
71
|
|
|
(145)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net repayments on overdraft facilities
|
|
|
—
|
|
|
—
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
Repayments of short-term debt
|
|
|
—
|
|
|
—
|
|
|
(2)
|
|
|
—
|
|
|
(2)
|
|
Borrowings on short term debt
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
Repayments of long-term debt
|
|
|
—
|
|
|
—
|
|
|
(4)
|
|
|
—
|
|
|
(4)
|
|
Repayments of notes payable to affiliate
|
|
|
(40)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(40)
|
|
Repayments of notes payable
|
|
|
(4)
|
|
|
—
|
|
|
(5)
|
|
|
—
|
|
|
(9)
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(18)
|
|
|
—
|
|
|
(18)
|
|
Contribution from parent
|
|
|
—
|
|
|
1
|
|
|
78
|
|
|
(79)
|
|
|
—
|
|
Distribution to parent
|
|
|
—
|
|
|
(7)
|
|
|
—
|
|
|
7
|
|
|
—
|
|
Dividends paid to parent
|
|
|
(39)
|
|
|
—
|
|
|
(42)
|
|
|
42
|
|
|
(39)
|
|
Proceeds from the secondary offering of P&A Business
|
|
|
—
|
|
|
—
|
|
|
44
|
|
|
—
|
|
|
44
|
|
Cash paid for expenses of the secondary offering of P&A Business
|
|
|
—
|
|
|
—
|
|
|
(2)
|
|
|
—
|
|
|
(2)
|
|
Net cash (used in) provided by financing activities
|
|
|
(83)
|
|
|
(6)
|
|
|
50
|
|
|
(30)
|
|
|
(69)
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
16
|
|
|
—
|
|
|
16
|
|
Decrease in cash, cash equivalents and restricted cash
|
|
|
(11)
|
|
|
—
|
|
|
(30)
|
|
|
—
|
|
|
(41)
|
|
Cash, cash equivalents and restricted cash from continuing operations at beginning of period
|
|
|
74
|
|
|
—
|
|
|
405
|
|
|
—
|
|
|
479
|
|
Cash, cash equivalents and restricted cash from discontinued operations at beginning of period
|
|
|
—
|
|
|
—
|
|
|
238
|
|
|
—
|
|
|
238
|
|
Cash, cash equivalents and restricted cash at end of period
|
|
$
|
63
|
|
$
|
—
|
|
$
|
613
|
|
$
|
—
|
|
$
|
676
|
.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2017
(In Millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
Parent
|
|
|
|
|
|
|
|
Huntsman
|
|
|
|
Company
|
|
Guarantors
|
|
Nonguarantors
|
|
Eliminations
|
|
International LLC
|
|
Net cash provided by (used in) operating activities from continuing operations
|
|
$
|
65
|
|
$
|
16
|
|
$
|
(13)
|
|
$
|
—
|
|
$
|
68
|
|
Net cash (used in) provided by operating activities from discontinued operations
|
|
|
(7)
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
22
|
|
Net cash provided by operating activities
|
|
|
58
|
|
|
16
|
|
|
16
|
|
|
—
|
|
|
90
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(8)
|
|
|
(9)
|
|
|
(34)
|
|
|
—
|
|
|
(51)
|
|
Investment in affiliate
|
|
|
(12)
|
|
|
—
|
|
|
—
|
|
|
12
|
|
|
—
|
|
Increase in receivable in affiliate
|
|
|
(7)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7)
|
|
Other, net
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
5
|
|
Net cash used in investing activities from continuing operations
|
|
|
(27)
|
|
|
(9)
|
|
|
(29)
|
|
|
12
|
|
|
(53)
|
|
Net cash provided by investing activities from discontinued operations
|
|
|
—
|
|
|
—
|
|
|
24
|
|
|
—
|
|
|
24
|
|
Net cash used in investing activities
|
|
|
(27)
|
|
|
(9)
|
|
|
(5)
|
|
|
12
|
|
|
(29)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments of short-term debt
|
|
|
—
|
|
|
—
|
|
|
(6)
|
|
|
—
|
|
|
(6)
|
|
Borrowings on short-term debt
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
Repayments of long-term debt
|
|
|
(4)
|
|
|
—
|
|
|
(3)
|
|
|
—
|
|
|
(7)
|
|
Proceeds from issuance of long-term debt
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
—
|
|
|
8
|
|
Repayments of notes payable to affiliate
|
|
|
(5)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5)
|
|
Proceeds from notes payable to affiliate
|
|
|
15
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
15
|
|
Dividends paid to noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
(3)
|
|
|
—
|
|
|
(3)
|
|
Contribution from noncontrolling interests
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
2
|
|
Contribution from parent
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
(19)
|
|
|
—
|
|
Distribution to parent
|
|
|
—
|
|
|
(7)
|
|
|
—
|
|
|
7
|
|
|
—
|
|
Dividends paid to parent
|
|
|
(30)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(30)
|
|
Net cash (used in) provided by financing activities
|
|
|
(24)
|
|
|
(7)
|
|
|
19
|
|
|
(12)
|
|
|
(24)
|
|
Effect of exchange rate changes on cash
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
5
|
|
Increase in cash, cash equivalents and restricted cash
|
|
|
7
|
|
|
—
|
|
|
35
|
|
|
—
|
|
|
42
|
|
Cash, cash equivalents and restricted cash from continuing operations at beginning of period
|
|
|
37
|
|
|
—
|
|
|
358
|
|
|
—
|
|
|
395
|
|
Cash, cash equivalents and restricted cash from discontinued operations at beginning of period
|
|
|
—
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
29
|
|
Cash, cash equivalents and restricted cash at end of period
|
|
$
|
44
|
|
$
|
—
|
|
$
|
422
|
|
$
|
—
|
|
$
|
466
|
|