Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.10.0.1
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2018
DISCONTINUED OPERATIONS  
Summary of major classes of assets and liabilities constituting assets and liabilities held for sale

 

 

The following table summarizes the major classes of assets and liabilities constituting assets and liabilities held for sale (dollars in millions):

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

 

2018

    

2017

Carrying amounts of major classes of assets held for sale:

 

 

 

 

 

 

Accounts receivable

 

$

435

 

$

380

Inventories

 

 

491

 

 

454

Other current assets

 

 

431

 

 

318

Property, plant and equipment, net

 

 

1,568

 

 

1,424

Deferred income taxes

 

 

88

 

 

158

Other noncurrent assets

 

 

145

 

 

146

Total assets held for sale

 

$

3,158

 

$

2,880

Carrying amounts of major classes of liabilities held for sale:

 

 

 

 

 

 

Accounts payable

 

$

378

 

$

385

Accrued liabilities

 

 

176

 

 

236

Other current liabilities

 

 

16

 

 

25

Long-term debt

 

 

745

 

 

746

Other noncurrent liabilities

 

 

263

 

 

300

Total liabilities held for sale

 

$

1,578

 

$

1,692

(1)

The assets and liabilities held for sale are classified as current as of June 30, 2018 and December 31, 2017 because it is probable that the sale of our controlling financial interest in Venator ordinary shares will occur and proceeds will be collected within one year.

The following table summarizes major classes of line items constituting pretax and after-tax income of discontinued operations (dollars in millions):

 

 

Huntsman Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months

 

Six months

 

ended

 

ended

 

June 30, 

 

June 30, 

 

2018

    

2017

    

2018

    

2017

Major classes of line items constituting pretax income of discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

$

630

 

$

568

 

$

1,257

 

$

1,111

Cost of goods sold

 

118

 

 

481

 

 

594

 

 

951

Other expense items, net that are not major

 

94

 

 

19

 

 

111

 

 

96

Income from discontinued operations before income taxes

 

418

 

 

68

 

 

552

 

 

64

Income tax expense

 

(84)

 

 

(23)

 

 

(104)

 

 

(26)

Income from discontinued operations, net of tax

 

334

 

 

45

 

 

448

 

 

38

Net income attributable to noncontrolling interests

 

(2)

 

 

(3)

 

 

(4)

 

 

(6)

Net income attributable to discontinued operations

$

332

 

$

42

 

$

444

 

$

32

 

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES  
DISCONTINUED OPERATIONS  
Summary of major classes of assets and liabilities constituting assets and liabilities held for sale

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months

 

Six months

 

ended

 

ended

 

June 30, 

 

June 30, 

 

2018

    

2017

    

2018

    

2017

Major classes of line items constituting pretax income of discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

$

630

 

$

568

 

$

1,257

 

$

1,111

Cost of goods sold

 

118

 

 

480

 

 

594

 

 

951

Other expense items, net that are not major

 

94

 

 

22

 

 

111

 

 

99

Income from discontinued operations before income taxes

 

418

 

 

66

 

 

552

 

 

61

Income tax expense

 

(84)

 

 

(22)

 

 

(104)

 

 

(25)

Income from discontinued operations, net of tax

 

334

 

 

44

 

 

448

 

 

36

Net income attributable to noncontrolling interests

 

(2)

 

 

(3)

 

 

(4)

 

 

(6)

Net income attributable to discontinued operations

$

332

 

$

41

 

$

444

 

$

30