Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Employee Benefit Plans

v3.21.1
Note 12 - Employee Benefit Plans
 3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANS

​

Components of the net periodic benefit costs from continuing operations for the three months ended March 31, 2021 and 2020 were as follows (dollars in millions):

​

Huntsman Corporation

​

                   

Other Postretirement

  
   

Defined Benefit Plans

    

Benefit Plans

  
   

Three months

    

Three months

  
   

ended

    

ended

  
   

March 31,

    

March 31,

  
   

2021

    

2020

    

2021

    

2020

  

Service cost

   $ 14     $ 14     $ —     $ —  

Interest cost

     12       15       —       1  

Expected return on assets

     (42 )     (43 )     —       —  

Amortization of prior service benefit

     (2 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

     23       20       1       —  
Settlement loss     3       —       —       —  

Net periodic benefit cost

   $ 8     $ 4     $ —     $ —  

​

Huntsman International

​

                   

Other Postretirement

  
   

Defined Benefit Plans

    

Benefit Plans

  
   

Three months

    

Three months

  
   

ended

    

ended

  
   

March 31,

    

March 31,

  
   

2021

    

2020

    

2021

    

2020

  

Service cost

   $ 14     $ 14     $ —     $ —  

Interest cost

     12       15       —       1  

Expected return on assets

     (42 )     (43 )     —       —  

Amortization of prior service benefit

     (2 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

     24       21       1       —  
Settlement loss     3       —       —       —  

Net periodic benefit cost

   $ 9     $ 5     $ —     $ —  

​

During the three months ended March 31, 2021 and 2020, we made contributions to our pension and other postretirement benefit plans of $14 million and $20 million, respectively. During the remainder of 2021, we expect to contribute an additional amount of approximately $42 million to these plans.

​