Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

v3.20.2
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
6 Months Ended
Jun. 30, 2020
OTHER COMPREHENSIVE INCOME  
Schedule of other comprehensive income

The components of other comprehensive income and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

Huntsman Corporation

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts

attributable to

Huntsman

Corporation

Beginning balance, January 1, 2020

$

(369)

$

(1,031)

$

8

$

4

$

(1,388)

$

26

$

(1,362)

Other comprehensive (loss) income before reclassifications, gross

(52)

8

(44)

(44)

Tax expense

(4)

(2)

(6)

(6)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

75

75

75

Tax expense

(17)

(17)

(17)

Net current-period other comprehensive (loss) income

(56)

64

8

8

Ending balance, June 30, 2020

$

(425)

$

(967)

$

8

$

4

$

(1,380)

$

26

$

(1,354)

(a) Amounts are net of tax of $72 and $68 as of June 30, 2020 and January 1, 2020, respectively.

(b) Amounts are net of tax of $129 and $148 as of June 30, 2020 and January 1, 2020, respectively.

(c) See table below for details about these reclassifications.

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts

attributable to

Huntsman

Corporation

Beginning balance, January 1, 2019

$

(371)

$

(994)

$

8

$

5

$

(1,352)

$

36

$

(1,316)

Other comprehensive income before reclassifications, gross

19

19

19

Tax benefit

1

1

1

Amounts reclassified from accumulated other comprehensive loss, gross(c)

31

31

31

Tax expense

(6)

(6)

(6)

Net current-period other comprehensive income

20

25

45

45

Ending balance, June 30, 2019

$

(351)

$

(969)

$

8

$

5

$

(1,307)

$

36

$

(1,271)

(a)

Amounts are net of tax of $70 and $71 as of June 30, 2019 and January 1, 2019, respectively.

(b)

Amounts are net of tax of $129 and $135 as of June 30, 2019 and January 1, 2019, respectively.

(c)

See table below for details about these reclassifications.

Schedule of details about reclassifications from other comprehensive income

Three months ended June 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

other

other

where net income

Details about Accumulated Other

comprehensive loss

    

comprehensive loss

is presented

Comprehensive Loss Components(a):

    

Amortization of pension and other postretirement benefits:

Prior service credit

$

(2)

$

(3)

(b)

Actuarial loss

19

19

(b)(d)

17

16

Total before tax

(3)

(3)

Income tax expense

Total reclassifications for the period

$

14

$

13

Net of tax

Six months ended June 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

Details about Accumulated Other

other

other

where net income

Comprehensive Loss Components(a):

comprehensive loss

    

comprehensive loss

    

is presented

Amortization of pension and other postretirement benefits:

Prior service credit

$

(5)

$

(6)

(b)

Settlement loss

41

(c)

Actuarial loss

39

37

(b)(d)

75

31

Total before tax

(17)

(6)

Income tax expense

Total reclassifications for the period

$

58

$

25

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) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 of pension and other post-employment benefit settlement losses during the six months ended June 30, 2020.

(d) Amounts contain approximately $2 and nil of actuarial losses related to discontinued operations for the three months ended June 30, 2020 and 2019, respectively, and $3 and $1 of actuarial losses related to discontinued operations for the six months ended June 30, 2020 and 2019.
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES  
OTHER COMPREHENSIVE INCOME  
Schedule of other comprehensive income

Huntsman International

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
International

Beginning balance, January 1, 2020

$

(374)

$

(1,012)

$

8

$

$

(1,378)

$

26

$

(1,352)

Other comprehensive (loss) income before reclassifications, gross

(53)

8

(45)

(45)

Tax expense

(4)

(2)

(6)

(6)

Amounts reclassified from accumulated other comprehensive loss, gross(c)

77

77

77

Tax expense

(17)

(17)

(17)

Net current-period other comprehensive (loss) income

(57)

66

9

9

Ending balance, June 30, 2020

$

(431)

$

(946)

$

8

$

$

(1,369)

$

26

$

(1,343)

(a) Amounts are net of tax of $59 and $55 as of June 30, 2020 and January 1, 2020 respectively.

(b) Amounts are net of tax of $155 and $174 as of June, 2020 and January 1, 2020, respectively.

(c) See table below for details about these reclassifications.

    

Foreign
currency
translation
adjustment(a)

    

Pension
and other
postretirement
benefits
adjustments(b)

    

Other
comprehensive
income of
unconsolidated
affiliates

    

Other, net

    

Total

    

Amounts
attributable to
noncontrolling
interests

    

Amounts
attributable to
Huntsman
International

Beginning balance, January 1, 2019

$

(376)

$

(977)

$

8

$

1

$

(1,344)

$

36

$

(1,308)

Other comprehensive income before reclassifications, gross

19

19

19

Tax benefit

1

1

1

Amounts reclassified from accumulated other comprehensive loss, gross(c)

33

33

33

Tax expense

(7)

(7)

(7)

Net current-period other comprehensive income

20

26

46

46

Ending balance, June 30, 2019

$

(356)

$

(951)

$

8

$

1

$

(1,298)

$

36

$

(1,262)

(a)

Amounts are net of tax of $56 and $57 as of June 30, 2019 and January 1, 2019, respectively.

(b)

Amounts are net of tax of $154 and $161 as of June 30, 2019 and January 1, 2019, respectively.

(c)

See table below for details about these reclassifications.

Schedule of details about reclassifications from other comprehensive income

Three months ended June 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

other

other

where net income

Details about Accumulated Other

comprehensive loss

    

comprehensive loss

is presented

Comprehensive Loss Components(a):

    

Amortization of pension and other postretirement benefits:

Prior service credit

$

(2)

$

(3)

(b)

Actuarial loss

20

20

(b)(d)

18

17

Total before tax

(3)

(4)

Income tax expense

Total reclassifications for the period

$

15

$

13

Net of tax

Six months ended June 30, 

2020

2019

Amounts reclassified

Amounts reclassified

Affected line item in

from accumulated

from accumulated

the statement

Details about Accumulated Other

other

other

where net income

Comprehensive Loss Components(a):

comprehensive loss

    

comprehensive loss

    

is presented

Amortization of pension and other postretirement benefits:

Prior service credit

$

(5)

$

(6)

(b)

Settlement loss

41

(c)

Actuarial loss

41

39

(b)(d)

77

33

Total before tax

(17)

(7)

Income tax expense

Total reclassifications for the period

$

60

$

26

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) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 of pension and other post-employment benefit settlement losses during the six months ended June 30, 2020.

(d) Amounts contain approximately $2 and nil of actuarial losses related to discontinued operations for the three months ended June 30, 2020 and 2019, respectively, and $3 and $1 of actuarial losses related to discontinued operations for the six months ended June 30, 2020 and 2019.