Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE (Tables)

FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of fair values of financial instruments

The fair values of financial instruments were as follows (dollars in millions):


	September 30, 2019						December 31, 2018
	Carrying			Estimated			Carrying			Estimated
	Value			Fair Value			Value			Fair Value
Non-qualified employee benefit plan investments	$	25		$	25		$	23		$	23
Forward swap contract related to the sale of investment in Venator		—			—			14			14
Interest rate contracts		(1)			(1)			—			—
Long-term debt (including current portion)		(2,336)			(2,504)			(2,320)			(2,403)

Schedule of assets and liabilities are measured at fair value on a recurring basis

The following assets and liabilities are measured at fair value on a recurring basis (dollars in millions):


					Fair Value Amounts Using
					Quoted prices			Significant other			Significant
					in active markets			observable			unobservable
		September 30,			for identical			inputs			inputs
Description		2019			assets (Level 1)			(Level 2)			(Level 3)
Assets:
Equity securities:
Non-qualified employee benefit plan investments		$	25		$	25		$	—		$	—

Liabilities:
Derivatives:
Interest rate contracts		$	(1)		$	—		$	(1)		$	—


					Fair Value Amounts Using
					Quoted prices			Significant other			Significant
					in active markets			observable			unobservable
		December 31,			for identical			inputs			inputs
Description		2018			assets (Level 1)			(Level 2)			(Level 3)
Assets:
Equity securities:
Non-qualified employee benefit plan investments		$	23		$	23		$	—		$	—

Derivatives:
Forward swap contract related to the sale of investment in Venator(1)			14			—			14			—
		$	37		$	23		$	14		$	—

(1)	In connection with the December 3, 2018 sale of Venator ordinary shares to Bank of America N.A., we recorded a forward swap. In February 2019, we settled this forward swap and received $16 million from the counterparty.