Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Trade sales, services and fees, net $ 2,862 $ 2,896 $ 5,715 $ 5,522
Related party sales 52 38 112 91
Total revenues 2,914 2,934 5,827 5,613
Cost of goods sold 2,387 2,433 4,750 4,652
Gross profit 527 501 1,077 961
Operating expenses:        
Selling, general and administrative 232 256 453 474
Research and development 38 42 77 81
Other operating expense (income) 2 (26) 7 8
Restructuring, impairment and plant closing costs 5 9 5 16
Total expenses 277 281 542 579
Operating income 250 220 535 382
Interest expense, net (57) (65) (116) (124)
Equity in income of investment in unconsolidated affiliates 1 2 3 4
Loss on early extinguishment of debt     (1) (3)
Other income 1 1 1 1
Income from continuing operations before income taxes 195 158 422 260
Income tax expense (65) (34) (125) (56)
Income from continuing operations 130 124 297 204
Loss from discontinued operations, net of tax (2) (1) (6) (15)
Income before extraordinary gain 128 123 291 189
Extraordinary gain on the acquisition of a business, net of tax of nil   1   2
Net income 128 124 291 191
Net income attributable to noncontrolling interests (4) (10) (4) (15)
Net income attributable to Huntsman Corporation or Huntsman International LLC 124 114 287 176
Basic income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.53 $ 0.48 $ 1.24 $ 0.79
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) $ (0.01)   $ (0.03) $ (0.06)
Extraordinary gain on the acquisition of a business attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)       $ 0.01
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.52 $ 0.48 $ 1.21 $ 0.74
Weighted average shares (in shares) 237.8 239.4 237.2 238.5
Diluted income (loss) per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.52 $ 0.47 $ 1.22 $ 0.78
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)     $ (0.03) $ (0.07)
Extraordinary gain on the acquisition of a business attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)       $ 0.01
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.52 $ 0.47 $ 1.19 $ 0.72
Weighted average shares (in shares) 240.5 243.7 240.2 243.2
Amounts attributable to Huntsman Corporation common stockholders:        
Income from continuing operations 126 114 293 189
Loss from discontinued operations, net of tax (2) (1) (6) (15)
Extraordinary gain on the acquisition of a business, net of tax   1   2
Net income 124 114 287 176
Dividends per share (in dollars per share) $ 0.10 $ 0.10 $ 0.20 $ 0.20
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
        
Revenues:        
Trade sales, services and fees, net 2,862 2,896 5,715 5,522
Related party sales 52 38 112 91
Total revenues 2,914 2,934 5,827 5,613
Cost of goods sold 2,382 2,429 4,741 4,643
Gross profit 532 505 1,086 970
Operating expenses:        
Selling, general and administrative 230 255 449 472
Research and development 38 42 77 81
Other operating expense (income) 2 (26) 7 8
Restructuring, impairment and plant closing costs 5 9 5 16
Total expenses 275 280 538 577
Operating income 257 225 548 393
Interest expense, net (61) (67) (122) (131)
Equity in income of investment in unconsolidated affiliates 1 2 3 4
Loss on early extinguishment of debt     (1) (3)
Other income 1 1 1 1
Income from continuing operations before income taxes 198 161 429 264
Income tax expense (65) (34) (126) (56)
Income from continuing operations 133 127 303 208
Loss from discontinued operations, net of tax (2) (1) (6) (15)
Income before extraordinary gain 131 126 297 193
Extraordinary gain on the acquisition of a business, net of tax of nil   1   2
Net income 131 127 297 195
Net income attributable to noncontrolling interests (4) (10) (4) (15)
Net income attributable to Huntsman Corporation or Huntsman International LLC 127 117 293 180
Amounts attributable to Huntsman Corporation common stockholders:        
Extraordinary gain on the acquisition of a business, net of tax   1   2
Net income $ 127 $ 117 $ 293 $ 180