Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities:    
Net income $ 131 $ 350
Less: Income from discontinued operations, net of tax (1) (114)
Income from continuing operations 130 236
Adjustments to reconcile income from continuing operations to net cash (used in) provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (10) (13)
Unrealized gains on fair value adjustments to Venator investment (76)  
Depreciation and amortization 90 82
Loss on disposal of businesses/assets, net 1 2
Loss on early extinguishment of debt 23  
Noncash interest expense 1  
Noncash restructuring and impairment charges   2
Deferred income taxes 14 2
Noncash loss on foreign currency transactions 6 5
Stock-based compensation 8 8
Other, net 5  
Changes in operating assets and liabilities:    
Accounts and notes receivable (13) (104)
Inventories (90) (105)
Prepaid expenses (2) (8)
Other current assets 22 15
Other noncurrent assets (14) 1
Accounts payable (35) 36
Accrued liabilities (75) (42)
Other noncurrent liabilities (16) (6)
Net cash (used in) provided by operating activities from continuing operations (31) 111
Net cash provided by operating activities from discontinued operations   52
Net cash (used in) provided by operating activities (31) 163
Investing Activities:    
Capital expenditures (70) (55)
Acquisition of businesses, net of cash acquired   (14)
Cash received from forward swap contract related to the sale of investment in Venator 16  
Net cash used in investing activities from continuing operations (54) (69)
Net cash used in investing activities from discontinued operations   (67)
Net cash used in investing activities (54) (136)
Financing Activities:    
Net borrowings on revolving loan facilities 211  
Repayments of long-term debt (652) (4)
Proceeds from issuance of long-term debt 742  
Repayments of notes payable (7) (9)
Debt issuance costs paid (6)  
Dividends paid to noncontrolling interests   (18)
Dividends paid to common stockholders (39) (39)
Repurchase and cancellation of stock awards (12) (11)
Proceeds from issuance of common stock 1 5
Repurchase of common stock (33) (51)
Costs of early extinguishment of debt (21)  
Proceeds from the secondary offering of Venator   44
Cash paid for expenses of the secondary offering of Venator   (2)
Other, net (1) (1)
Net cash provided by (used in) financing activities 183 (86)
Effect of exchange rate changes on cash 6 16
Increase (decrease) in cash, cash equivalents and restricted cash 104 (43)
Cash, cash equivalents and restricted cash from continuing operations at beginning of period 340 481
Cash, cash equivalents and restricted cash from discontinued operations at beginning of period   238
Cash, cash equivalents and restricted cash at end of period 444 676
Supplemental cash flow information:    
Cash paid for interest 26 31
Cash paid for income taxes 14 41
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES    
Operating Activities:    
Net income 128 347
Less: Income from discontinued operations, net of tax (1) (114)
Income from continuing operations 127 233
Adjustments to reconcile income from continuing operations to net cash (used in) provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (10) (13)
Unrealized gains on fair value adjustments to Venator investment (76)  
Depreciation and amortization 90 81
Loss on disposal of businesses/assets, net 1 2
Loss on early extinguishment of debt 23  
Noncash interest expense 6 5
Noncash restructuring and impairment charges   2
Deferred income taxes 13 2
Noncash loss on foreign currency transactions 6 5
Noncash compensation 7 7
Other, net 8  
Changes in operating assets and liabilities:    
Accounts and notes receivable (13) (105)
Inventories (90) (105)
Prepaid expenses (2) (8)
Other current assets 21 14
Other noncurrent assets (14) 1
Accounts payable (40) 31
Accrued liabilities (76) (42)
Other noncurrent liabilities (16) (5)
Net cash (used in) provided by operating activities from continuing operations (35) 105
Net cash provided by operating activities from discontinued operations   52
Net cash (used in) provided by operating activities (35) 157
Investing Activities:    
Capital expenditures (70) (55)
Acquisition of businesses, net of cash acquired   (14)
Increase in receivable from affiliate (9) (9)
Cash received from forward swap contract related to the sale of investment in Venator 16  
Net cash used in investing activities from continuing operations (63) (78)
Net cash used in investing activities from discontinued operations   (67)
Net cash used in investing activities (63) (145)
Financing Activities:    
Net borrowings on revolving loan facilities 211  
Repayments of long-term debt (652) (4)
Proceeds from issuance of long-term debt 742  
Repayments of notes payable to affiliate (33) (40)
Repayments of notes payable (7) (9)
Debt issuance costs paid (6)  
Dividends paid to noncontrolling interests   (18)
Dividends paid to parent (37) (39)
Costs of early extinguishment of debt (21)  
Proceeds from the secondary offering of Venator   44
Cash paid for expenses of the secondary offering of Venator   (2)
Other, net (2) (1)
Net cash provided by (used in) financing activities 195 (69)
Effect of exchange rate changes on cash 6 16
Increase (decrease) in cash, cash equivalents and restricted cash 103 (41)
Cash, cash equivalents and restricted cash from continuing operations at beginning of period 340 479
Cash, cash equivalents and restricted cash from discontinued operations at beginning of period   238
Cash, cash equivalents and restricted cash at end of period 443 676
Supplemental cash flow information:    
Cash paid for interest 26 31
Cash paid for income taxes $ 14 $ 41