OTHER COMPREHENSIVE INCOME (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
OTHER COMPREHENSIVE INCOME |
|
Schedule of other comprehensive loss |
The components of other comprehensive income and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):
Huntsman Corporation
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Pension and |
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Other |
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Foreign |
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other |
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comprehensive |
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Amounts |
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Amounts |
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currency |
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postretirement |
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income of |
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attributable to |
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attributable to |
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translation |
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benefits |
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unconsolidated |
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noncontrolling |
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Huntsman |
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adjustment(a) |
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adjustments(b) |
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affiliates |
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Other, net |
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Total |
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interests |
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Corporation |
Beginning balance, January 1, 2019 |
|
$ |
(371) |
|
$ |
(994) |
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$ |
8 |
|
$ |
5 |
|
$ |
(1,352) |
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$ |
36 |
|
$ |
(1,316) |
Other comprehensive loss before reclassifications, gross |
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(19) |
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— |
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— |
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(1) |
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(20) |
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6 |
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(14) |
Tax benefit |
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(1) |
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— |
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— |
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— |
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(1) |
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— |
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(1) |
Amounts reclassified from accumulated other comprehensive loss, gross(c) |
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— |
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46 |
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— |
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— |
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46 |
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— |
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46 |
Tax expense |
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— |
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(10) |
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— |
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— |
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(10) |
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— |
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(10) |
Net current-period other comprehensive (loss) income |
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(20) |
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36 |
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— |
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(1) |
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15 |
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6 |
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21 |
Acquisition of noncontrolling interest |
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— |
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— |
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— |
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— |
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— |
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(15) |
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(15) |
Ending balance, September 30, 2019 |
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$ |
(391) |
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$ |
(958) |
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$ |
8 |
|
$ |
4 |
|
$ |
(1,337) |
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$ |
27 |
|
$ |
(1,310) |
(a) |
Amounts are net of tax of $72 and $71 as of September 30, 2019 and January 1, 2019, respectively.
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(b) |
Amounts are net of tax of $125 and $135 as of September 30, 2019 and January 1, 2019, respectively.
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(c) |
See table below for details about these reclassifications. |
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Pension and |
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Other |
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Foreign |
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other |
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comprehensive |
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Amounts |
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Amounts |
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currency |
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postretirement |
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income of |
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attributable to |
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attributable to |
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translation |
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benefits |
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unconsolidated |
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noncontrolling |
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Huntsman |
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adjustment(a) |
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adjustments(b) |
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affiliates |
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Other, net |
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Total |
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interests |
|
Corporation |
Beginning balance, January 1, 2018 |
|
$ |
(249) |
|
$ |
(1,189) |
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$ |
3 |
|
$ |
24 |
|
$ |
(1,411) |
|
$ |
143 |
|
$ |
(1,268) |
Cumulative effect of changes in fair value of equity investments |
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— |
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— |
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— |
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(10) |
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(10) |
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— |
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(10) |
Revised beginning balance, January 1, 2018 |
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(249) |
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(1,189) |
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3 |
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14 |
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(1,421) |
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143 |
|
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(1,278) |
Other comprehensive (loss) income before reclassifications, gross |
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(155) |
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2 |
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1 |
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— |
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(152) |
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32 |
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(120) |
Tax expense |
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(1) |
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— |
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— |
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(3) |
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(4) |
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— |
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(4) |
Amounts reclassified from accumulated other comprehensive loss, gross(c) |
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— |
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60 |
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— |
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— |
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60 |
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— |
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60 |
Tax expense |
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— |
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(1) |
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— |
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(6) |
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(7) |
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— |
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(7) |
Net current-period other comprehensive (loss) income |
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(156) |
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|
61 |
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1 |
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(9) |
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(103) |
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32 |
|
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(71) |
Disposition of a portion of Venator |
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— |
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— |
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— |
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— |
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— |
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(5) |
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(5) |
Ending balance, September 30, 2018 |
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$ |
(405) |
|
$ |
(1,128) |
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$ |
4 |
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$ |
5 |
|
$ |
(1,524) |
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$ |
170 |
|
$ |
(1,354) |
(a) |
Amounts are net of tax of $66 and $65 as of September 30, 2018 and January 1, 2018, respectively. |
(b) |
Amounts are net of tax of $171 and $172 as of September 30, 2018 and January 1, 2018, respectively. |
(c) |
See table below for details about these reclassifications. |
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Schedule of details about reclassifications from other comprehensive loss |
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Amounts reclassified |
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from accumulated |
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other |
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comprehensive loss |
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Affected line item in |
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Three months |
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Nine months |
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the statement |
Details about Accumulated Other |
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ended |
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ended |
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where net income |
Comprehensive Loss Components(a): |
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September 30, 2019 |
|
September 30, 2019 |
|
is presented |
Amortization of pension and other postretirement benefits: |
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Prior service credit |
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$ |
(2) |
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$ |
(8) |
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(b) |
Actuarial loss |
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17 |
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54 |
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(b)(c) |
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15 |
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|
46 |
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Total before tax |
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(4) |
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(10) |
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Income tax expense |
Total reclassifications for the period |
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$ |
11 |
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$ |
36 |
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Net of tax |
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Amounts reclassified |
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from accumulated |
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other |
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comprehensive loss |
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Affected line item in |
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Three months |
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Nine months |
|
the statement |
Details about Accumulated Other |
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ended |
|
ended |
|
where net income |
Comprehensive Loss Components(a): |
|
September 30, 2018 |
|
September 30, 2018 |
|
is presented |
Amortization of pension and other postretirement benefits: |
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Prior service credit |
|
$ |
(2) |
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$ |
(9) |
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(b) |
Settlement loss |
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— |
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2 |
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(b) |
Actuarial loss |
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21 |
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67 |
|
(b)(c) |
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19 |
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|
60 |
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Total before tax |
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(3) |
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(1) |
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Income tax (expense) benefit |
Total reclassifications for the period |
|
$ |
16 |
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$ |
59 |
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Net of tax |
(a) |
Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations. |
(b) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 12. Employee Benefit Plans.” |
(c) |
Amounts contain approximately $1 and $9 of actuarial losses related to discontinued operations for the three months ended September 30, 2019 and 2018, respectively and $4 and $15 of actuarial losses related to discontinued operations for the nine months ended September 30, 2019 and 2018, respectively.
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|
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES |
|
OTHER COMPREHENSIVE INCOME |
|
Schedule of other comprehensive loss |
Huntsman International
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Foreign currency translation adjustment(a) |
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Pension and other postretirement benefits adjustments(b) |
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Other comprehensive income of unconsolidated affiliates |
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Other, net |
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Total |
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Amounts attributable to noncontrolling interests |
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Amounts attributable to Huntsman International |
Beginning balance, January 1, 2019 |
|
$ |
(376) |
|
$ |
(977) |
|
$ |
8 |
|
$ |
1 |
|
$ |
(1,344) |
|
$ |
36 |
|
$ |
(1,308) |
Other comprehensive loss before reclassifications, gross |
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|
(20) |
|
|
— |
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|
— |
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(1) |
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|
(21) |
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|
6 |
|
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(15) |
Tax benefit |
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|
(1) |
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|
— |
|
|
— |
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|
— |
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(1) |
|
|
— |
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|
(1) |
Amounts reclassified from accumulated other comprehensive loss, gross(c) |
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|
— |
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|
48 |
|
|
— |
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|
— |
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|
48 |
|
|
— |
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|
48 |
Tax expense |
|
|
— |
|
|
(10) |
|
|
— |
|
|
— |
|
|
(10) |
|
|
— |
|
|
(10) |
Net current-period other comprehensive (loss) income |
|
|
(21) |
|
|
38 |
|
|
— |
|
|
(1) |
|
|
16 |
|
|
6 |
|
|
22 |
Acquisition of noncontrolling interest |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(15) |
|
|
(15) |
Ending balance, September 30, 2019 |
|
$ |
(397) |
|
$ |
(939) |
|
$ |
8 |
|
$ |
— |
|
$ |
(1,328) |
|
$ |
27 |
|
$ |
(1,301) |
(a) |
Amounts are net of tax of $59 and $57 as of September 30, 2019 and January 1, 2019, respectively.
|
(b) |
Amounts are net of tax of $151 and $161 as of September 30, 2019 and January 1, 2019, respectively.
|
(c) |
See table below for details about these reclassifications. |
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|
|
|
|
|
|
|
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Foreign currency translation adjustment(a) |
|
Pension and other postretirement benefits adjustments(b) |
|
Other comprehensive income of unconsolidated affiliates |
|
Other, net |
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Total |
|
Amounts attributable to noncontrolling interests |
|
Amounts attributable to Huntsman International |
Beginning balance, January 1, 2018 |
|
$ |
(252) |
|
$ |
(1,174) |
|
$ |
3 |
|
$ |
17 |
|
$ |
(1,406) |
|
$ |
143 |
|
$ |
(1,263) |
Cumulative effect of changes in fair value of equity investments |
|
|
— |
|
|
— |
|
|
— |
|
|
(10) |
|
|
(10) |
|
|
— |
|
|
(10) |
Revised beginning balance, January 1, 2018 |
|
|
(252) |
|
|
(1,174) |
|
|
3 |
|
|
7 |
|
|
(1,416) |
|
|
143 |
|
|
(1,273) |
Other comprehensive (loss) income before reclassifications, gross |
|
|
(156) |
|
|
2 |
|
|
1 |
|
|
— |
|
|
(153) |
|
|
32 |
|
|
(121) |
Tax benefit (expense) |
|
|
(1) |
|
|
— |
|
|
— |
|
|
(1) |
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|
(2) |
|
|
— |
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|
(2) |
Amounts reclassified from accumulated other comprehensive loss, gross(c) |
|
|
— |
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|
61 |
|
|
— |
|
|
— |
|
|
61 |
|
|
— |
|
|
61 |
Tax expense |
|
|
— |
|
|
(1) |
|
|
— |
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|
(5) |
|
|
(6) |
|
|
— |
|
|
(6) |
Net current-period other comprehensive (loss) income |
|
|
(157) |
|
|
62 |
|
|
1 |
|
|
(6) |
|
|
(100) |
|
|
32 |
|
|
(68) |
Disposition of a portion of Venator |
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|
— |
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|
— |
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|
— |
|
|
— |
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|
— |
|
|
(5) |
|
|
(5) |
Ending balance, September 30, 2018 |
|
$ |
(409) |
|
$ |
(1,112) |
|
$ |
4 |
|
$ |
1 |
|
$ |
(1,516) |
|
$ |
170 |
|
$ |
(1,346) |
(a) |
Amounts are net of tax of $52 and $51 as of September 30, 2018 and January 1, 2018, respectively.
|
(b) |
Amounts are net of tax of $198 and $199 as of September 30, 2018 and January 1, 2018, respectively.
|
(c) |
See table below for details about these reclassifications. |
|
Schedule of details about reclassifications from other comprehensive loss |
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Amounts reclassified |
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from accumulated |
|
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|
other |
|
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|
comprehensive loss |
|
Affected line item in |
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|
Three months |
|
Nine months |
|
the statement |
Details about Accumulated Other |
|
ended |
|
ended |
|
where net income |
Comprehensive Loss Components(a): |
|
September 30, 2019 |
|
September 30, 2019 |
|
is presented |
Amortization of pension and other postretirement benefits: |
|
|
|
|
|
|
|
|
Prior service credit |
|
$ |
(2) |
|
$ |
(8) |
|
(b) |
Actuarial loss |
|
|
17 |
|
|
56 |
|
(b)(c) |
|
|
|
15 |
|
|
48 |
|
Total before tax |
|
|
|
(3) |
|
|
(10) |
|
Income tax expense |
Total reclassifications for the period |
|
$ |
12 |
|
$ |
38 |
|
Net of tax |
|
|
|
|
|
|
|
|
|
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|
Amounts reclassified |
|
|
|
|
from accumulated |
|
|
|
|
other |
|
|
|
|
comprehensive loss |
|
Affected line item in |
|
|
Three months |
|
Nine months |
|
the statement |
Details about Accumulated Other |
|
ended |
|
ended |
|
where net income |
Comprehensive Loss Components(a): |
|
September 30, 2018 |
|
September 30, 2018 |
|
is presented |
Amortization of pension and other postretirement benefits: |
|
|
|
|
|
|
|
|
Prior service credit |
|
$ |
(3) |
|
$ |
(9) |
|
(b) |
Settlement loss |
|
|
— |
|
|
2 |
|
|
Actuarial loss |
|
|
22 |
|
|
68 |
|
(b)(c) |
|
|
|
19 |
|
|
61 |
|
Total before tax |
|
|
|
(2) |
|
|
(1) |
|
Income tax (expense) benefit |
Total reclassifications for the period |
|
$ |
17 |
|
$ |
60 |
|
Net of tax |
(a) |
Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations. |
(b) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 12. Employee Benefit Plans.” |
(c) |
Amounts contain approximately $1 and $9 of actuarial losses related to discontinued operations for the three months ended September 30, 2019 and 2018, respectively and $4 and $15 of actuarial losses related to discontinued operations for the nine months ended September 30, 2019 and 2018, respectively. |
|