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
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities:    
Net income $ 649 $ 249
Less: Income loss from discontinued operations, net of tax (782) (58)
(Loss) income from continuing operations (133) 191
Adjustments to reconcile (loss) income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (4) (22)
Unrealized losses (gains) on fair value adjustments to Venator investment 106 (57)
Cash received from return on investment in unconsolidated subsidiary 4 10
Depreciation and amortization 136 136
Noncash lease expense 30 27
Loss on early extinguishment of debt   23
Deferred income taxes (24) 43
Stock-based compensation 14 15
Taxes paid on sale of Chemical Intermediates Businesses (10)  
Other, net 2 6
Changes in operating assets and liabilities:    
Accounts and notes receivable 179 (47)
Inventories 79 24
Prepaid expenses 17 2
Other current assets 5 31
Other noncurrent assets (19) (64)
Accounts payable (196) (12)
Accrued liabilities (58) (77)
Other noncurrent liabilities (83) (52)
Net cash provided by operating activities from continuing operations 45 177
Net cash (used in) provided by operating activities from discontinued operations (40) 96
Net cash provided by operating activities 5 273
Investing Activities:    
Capital expenditures (116) (118)
Cash received from sale of business 1,915  
Acquisition of businesses, net of cash acquired (652)  
Cash received from forward swap contract related to the sale of investment in Venator   16
Other, net 5 2
Net cash provided by (used in) investing activities from continuing operations 1,152 (100)
Net cash used in investing activities from discontinued operations   (18)
Net cash provided by (used in) investing activities 1,152 (118)
Financing Activities:    
Net (repayments) borrowings on revolving loan facilities (172) 126
Repayments of long-term debt (14) (662)
Proceeds from issuance of long-term debt   742
Repayments of notes payable (32) (14)
Debt issuance costs paid   (7)
Dividends paid to noncontrolling interests (24) (10)
Dividends paid to common stockholders (73) (77)
Repurchase and cancellation of stock awards (6) (12)
Proceeds from issuance of common stock 1 2
Repurchase of common stock (96) (115)
Costs of early extinguishment of debt   (21)
Other, net (1)  
Net cash used in financing activities (417) (48)
Effect of exchange rate changes on cash (11) 2
Increase in cash, cash equivalents and restricted cash 729 109
Cash, cash equivalents and restricted cash at beginning of period 525 340
Cash, cash equivalents and restricted cash at end of period 1,254 449
Supplemental cash flow information:    
Cash paid for interest 40 53
Cash paid for income taxes 55 68
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES    
Operating Activities:    
Net income 648 243
Less: Income loss from discontinued operations, net of tax (782) (58)
(Loss) income from continuing operations (134) 185
Adjustments to reconcile (loss) income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (4) (22)
Unrealized losses (gains) on fair value adjustments to Venator investment 106 (57)
Cash received from return on investment in unconsolidated subsidiary 4 10
Depreciation and amortization 136 136
Noncash lease expense 30 27
Loss on early extinguishment of debt   23
Deferred income taxes (25) 42
Noncash compensation 13 14
Taxes paid on sale of Chemical Intermediates Businesses (10)  
Other, net 5 15
Changes in operating assets and liabilities:    
Accounts and notes receivable 179 (47)
Inventories 79 24
Prepaid expenses 16 1
Other current assets 12 29
Other noncurrent assets (19) (64)
Accounts payable (198) (20)
Accrued liabilities (64) (77)
Other noncurrent liabilities (82) (50)
Net cash provided by operating activities from continuing operations 44 169
Net cash (used in) provided by operating activities from discontinued operations (40) 96
Net cash provided by operating activities 4 265
Investing Activities:    
Capital expenditures (116) (118)
Cash received from sale of business 1,915  
Acquisition of businesses, net of cash acquired (652)  
Decrease (increase) in receivable from affiliate 278 (5)
Cash received from forward swap contract related to the sale of investment in Venator   16
Other, net 5 3
Net cash provided by (used in) investing activities from continuing operations 1,430 (104)
Net cash used in investing activities from discontinued operations   (18)
Net cash provided by (used in) investing activities 1,430 (122)
Financing Activities:    
Net (repayments) borrowings on revolving loan facilities (172) 126
Repayments of long-term debt (14) (662)
Proceeds from issuance of long-term debt   742
Repayments of notes payable to affiliate (380) (115)
Repayments of notes payable (32) (14)
Debt issuance costs paid   (7)
Dividends paid to noncontrolling interests (23) (10)
Dividends paid to parent (73) (75)
Costs of early extinguishment of debt   (21)
Other, net (1)  
Net cash used in financing activities (695) (36)
Effect of exchange rate changes on cash (11) 2
Increase in cash, cash equivalents and restricted cash 728 109
Cash, cash equivalents and restricted cash at beginning of period 525 340
Cash, cash equivalents and restricted cash at end of period 1,253 449
Supplemental cash flow information:    
Cash paid for interest 40 53
Cash paid for income taxes $ 55 $ 68