Annual report pursuant to Section 13 and 15(d)

INVESTMENT IN UNCONSOLIDATED AFFILIATES (Tables)

v3.10.0.1
INVESTMENT IN UNCONSOLIDATED AFFILIATES (Tables)
12 Months Ended
Dec. 31, 2018
INVESTMENT IN UNCONSOLIDATED AFFILIATES  
Schedule of ownership percentage and investment in unconsolidated affiliates

Our ownership percentage and investment in unconsolidated affiliates were as follows (dollars in millions):

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2018

    

2017

Equity Method:

 

 

 

 

 

 

Venator Materials PLC (49%)(1)

 

$

219

 

$

 —

BASF Huntsman Shanghai Isocyanate Investment BV (50%)(2)

 

 

120

 

 

116

Nanjing Jinling Huntsman New Material Co., Ltd. (49%)

 

 

163

 

 

124

Jurong Ningwu New Material Development Co., Ltd. (30%)

 

 

24

 

 

21

Total equity method investments

 

 

526

 

 

261

Cost Method:

 

 

  

 

 

  

International Diol Company (4%)

 

 

 —

 

 

 5

Total investments

 

$

526

 

$

266

      


(1)

We account for our remaining investment in Venator as an equity method investment using the fair value option. For more information see “Note 4. Discontinued Operations and Business Dispositions—Separation and Deconsolidation of Venator.”

 

(2)

We own 50% of BASF Huntsman Shanghai Isocyanate Investment BV. BASF Huntsman Shanghai Isocyanate Investment BV owns a 70% interest in SLIC, thus giving us an indirect 35% interest in SLIC.

 

Summarized financial information of our unconsolidated affiliates

Summarized financial information of our unconsolidated affiliates as of December 31, 2018 and 2017 and for the years ended December 31, 2018, 2017 and 2016 is as follows (dollars in millions):

 

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2018

    

2017

Current assets

 

$

1,548

 

$

391

Non-current assets

 

 

2,444

 

 

1,138

Current liabilities

 

 

781

 

 

358

Non-current liabilities

 

 

1,683

 

 

567

Noncontrolling interests

 

 

 8

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2018(1)

    

2017

    

2016

Revenues

 

$

2,181

 

$

1,109

 

$

645

Gross profit

 

 

221

 

 

112

 

 

49

Income from continuing operations

 

 

124

 

 

34

 

 

16

Net income

 

 

124

 

 

34

 

 

16


(1)We began accounting for our investment in Venator as an equity method investment on December 3, 2018. Therefore, the summarized financial data only includes information for Venator applicable to the period from December 3, 2018 through December 31, 2018.