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

Note 20 - Operating Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Revenues:
Polyurethanes	$	1,068		$	888
Performance Products		305			292
Advanced Materials		278			241
Textile Effects		193			180
Corporate and eliminations		(7	)		(8	)
Total	$	1,837		$	1,593

Huntsman Corporation:
Segment adjusted EBITDA(1):
Polyurethanes	$	207		$	84
Performance Products		63			58
Advanced Materials		44			48
Textile Effects		25			20
Corporate and other(2)		(50	)		(45	)
Total		289			165
Reconciliation of adjusted EBITDA to net income:
Interest expense, net—continuing operations		(19	)		(18	)
Income tax expense—continuing operations		(34	)		(7	)
Income tax expense—discontinued operations		—			(238	)
Depreciation and amortization—continuing operations		(74	)		(67	)
Net income attributable to noncontrolling interests		17			3
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(9	)		(13	)
EBITDA from discontinued operations(3)		1			1,015
Fair value adjustments to Venator investment		(19	)		(110	)
Certain legal and other settlements and related expenses		(2	)		(2	)
Gain on sale of businesses/assets		—			2
Income from transition services arrangements		1			—
Certain nonrecurring information technology project implementation costs		(1	)		(1	)
Amortization of pension and postretirement actuarial losses		(22	)		(18	)
Plant incident remediation costs		(4	)		—
Restructuring, impairment and plant closing and transition costs		(24	)		(3	)
Net income	$	100		$	708

	*Three months*
	*ended*
	*March 31,*
	*2021*			*2020*
Huntsman International:
Segment adjusted EBITDA(1):
Polyurethanes	$	207		$	84
Performance Products		63			58
Advanced Materials		44			48
Textile Effects		25			20
Corporate and other(2)		(47	)		(44	)
Total		292			166
Reconciliation of adjusted EBITDA to net income:
Interest expense, net—continuing operations		(19	)		(20	)
Income tax expense—continuing operations		(35	)		(7	)
Income tax expense—discontinued operations		—			(238	)
Depreciation and amortization—continuing operations		(73	)		(67	)
Net income attributable to noncontrolling interests		17			3
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(9	)		(13	)
EBITDA from discontinued operations(3)		1			1,015
Fair value adjustments to Venator investment		(19	)		(110	)
Certain legal and other settlements and related expenses		(2	)		(2	)
Gain on sale of businesses/assets		—			2
Income from transition services arrangements		1			—
Certain nonrecurring information technology project implementation costs		(1	)		(1	)
Amortization of pension and postretirement actuarial losses		(23	)		(18	)
Plant incident remediation costs		(4	)		—
Restructuring, impairment and plant closing and transition costs		(24	)		(3	)
Net income	$	102		$	707