Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net income $ 497 $ 706
Less: Loss (income) from discontinued operations, net of tax 3 (782)
Income (loss) from continuing operations 500 (76)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (118) (25)
Unrealized losses on fair value adjustments to Venator investment 28 100
Cash received from return on investment in unconsolidated subsidiary 31 18
Depreciation and amortization 219 206
Noncash lease expense 46 46
Gain on disposal of businesses/assets (28) 0
Loss on early extinguishment of debt 27 0
Noncash restructuring and impairment charges 14 5
Deferred income taxes (22) (16)
Stock-based compensation 24 20
Other, net (4) 4
Changes in operating assets and liabilities:    
Accounts and notes receivable (342) 103
Inventories (329) 154
Prepaid expenses 31 23
Other current assets (11) 4
Other noncurrent assets (84) (47)
Accounts payable 125 (85)
Accrued liabilities 88 (22)
Taxes paid on sale of Chemical Intermediates Businesses 0 (188)
Other noncurrent liabilities (32) (114)
Net cash provided by operating activities from continuing operations 163 110
Net cash used in operating activities from discontinued operations (1) (22)
Net cash provided by operating activities 162 88
Investing Activities:    
Capital expenditures (250) (170)
Cash received from sale of businesses 43 1,923
Acquisition of businesses, net of cash acquired (245) (653)
Insurance proceeds for recovery of property damage 3 0
Other, net 10 5
Net cash (used in) provided by investing activities (439) 1,105
Financing Activities:    
Net borrowings (repayments) on revolving loan facilities 8 (153)
Proceeds from issuance of long-term debt 427 0
Repayments of long-term debt (965) (17)
Repayments of short-term debt 0 (109)
Repayments of notes payable 0 (32)
Debt issuance costs paid (4) 0
Dividends paid to noncontrolling interests (30) (24)
Dividends paid to common stockholders (119) (109)
Repurchase and cancellation of awards (7) (7)
Proceeds from issuance of common stock 7 2
Repurchase of common stock (102) (96)
Costs of early extinguishment of debt (26) 0
Other, net 2 (1)
Net cash used in financing activities (809) (546)
Effect of exchange rate changes on cash (2) (4)
(Decrease) increase in cash, cash equivalents and restricted cash (1,088) 643
Cash, cash equivalents and restricted cash at beginning of period 1,593 525
Cash, cash equivalents and restricted cash at end of period 505 1,168
Supplemental cash flow information:    
Cash paid for interest 57 49
Cash paid for income taxes 83 242
Huntsman International LLC [Member]    
Operating Activities:    
Net income 500 706
Less: Loss (income) from discontinued operations, net of tax 3 (782)
Income (loss) from continuing operations 503 (76)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (118) (25)
Unrealized losses on fair value adjustments to Venator investment 28 100
Cash received from return on investment in unconsolidated subsidiary 31 18
Depreciation and amortization 219 206
Noncash lease expense 46 46
Gain on disposal of businesses/assets (28) 0
Loss on early extinguishment of debt 27 0
Noncash restructuring and impairment charges 14 5
Deferred income taxes (22) (17)
Other, net (6) 8
Noncash compensation 23 19
Changes in operating assets and liabilities:    
Accounts and notes receivable (342) 103
Inventories (329) 154
Prepaid expenses 32 24
Other current assets (4) 11
Other noncurrent assets (84) (47)
Accounts payable 124 (87)
Accrued liabilities 82 (29)
Taxes paid on sale of Chemical Intermediates Businesses 0 (188)
Other noncurrent liabilities (29) (112)
Net cash provided by operating activities from continuing operations 167 113
Net cash used in operating activities from discontinued operations (1) (22)
Net cash provided by operating activities 166 91
Investing Activities:    
Capital expenditures (250) (170)
Cash received from sale of businesses 43 1,923
Acquisition of businesses, net of cash acquired (245) (653)
Insurance proceeds for recovery of property damage 3 0
Other, net 10 4
Net cash (used in) provided by investing activities (544) 1,379
(Increase) decrease in receivable from affiliate (105) 275
Financing Activities:    
Net borrowings (repayments) on revolving loan facilities 8 (153)
Proceeds from issuance of long-term debt 427 0
Repayments of long-term debt (965) (17)
Repayments of short-term debt 0 (109)
Repayments of notes payable 0 (32)
Debt issuance costs paid (4) 0
Dividends paid to noncontrolling interests (30) (23)
Costs of early extinguishment of debt (26) 0
Other, net 2 (1)
Net cash used in financing activities (706) (824)
Effect of exchange rate changes on cash (2) (4)
(Decrease) increase in cash, cash equivalents and restricted cash (1,086) 642
Cash, cash equivalents and restricted cash at beginning of period 1,591 525
Cash, cash equivalents and restricted cash at end of period 505 1,167
Repayments of notes payable to affiliate 0 (380)
Dividends paid to parent (118) (109)
Supplemental cash flow information:    
Cash paid for interest 57 49
Cash paid for income taxes $ 83 $ 242