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

Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

9 Months Ended

Sep. 30, 2012

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS

Accrued restructuring costs by type of cost and initiative

	Workforce reductions(1)			Demolition and decommissioning			Non-cancelable lease costs			Other restructuring costs			Total(2)

Accrued liabilities as of January 1, 2012	$	73		$	—		$	11		$	8		$	92
2012 charges for 2007 and prior initiatives		2			—			—			—			2
2012 charges for 2009 initiatives		1			—			—			4			5
2012 charges for 2010 initiatives		—			—			—			1			1
2012 charges for 2011 initiatives		4			1			—			4			9
2012 charges for 2012 initiatives		33			—			—			6			39
Reversal of reserves no longer required		(13	)		—			—			(1	)		(14	)
2012 payments for 2007 and prior initiatives		(1	)		—			(1	)		(1	)		(3	)
2012 payments for 2009 initiatives		(2	)		—			—			(4	)		(6	)
2012 payments for 2010 initiatives		(2	)		—			(1	)		—			(3	)
2012 payments for 2011 initiatives		(19	)		(1	)		—			(4	)		(24	)
2012 payments for 2012 initiatives		(4	)		—			—			(5	)		(9	)
Foreign currency effect on liability balance		1			—			—			—			1

Accrued liabilities as of September 30, 2012	$	73		$	—		$	9		$	8		$	90

(1): The total workforce reduction reserves of $73 million relate to the termination of 581 positions, of which 544 positions had not been terminated as of September 30, 2012.
(2): Accrued liabilities by initiatives were as follows (dollars in millions):

	September 30, 2012		December 31, 2011

2007 initiatives and prior	$	2	$	2
2009 initiatives		7		11
2010 initiatives		9		16
2011 initiatives		42		63
2012 initiatives		30		—

Total	$	90	$	92

Accrued restructuring costs by type of initiative

	September 30, 2012		December 31, 2011
2007 initiatives and prior	$	2	$	2
2009 initiatives		7		11
2010 initiatives		9		16
2011 initiatives		42		63
2012 initiatives		30		—

Total	$	90	$	92

Details with respect to reserves for restructuring, impairment and plant closing costs, provided by segment and initiative

	Polyurethanes			Performance Products			Advanced Materials			Textile Effects			Pigments			Discontinued Operations		Corporate and Other			Total

Accrued liabilities as of January 1, 2012	$	—		$	1		$	12		$	69		$	3		$	6	$	1		$	92
2012 charges for 2007 and prior initiatives		—			—			—			2			—			—		—			2
2012 charges for 2009 initiatives		—			—			1			—			4			—		—			5
2012 charges for 2010 initiatives		—			—			—			—			—			—		1			1
2012 charges for 2011 initiatives		—			—			3			6			—			—		—			9
2012 charges for 2012 initiatives		37			—			2			—			—			—		—			39
Reversal of reserves no longer required		—			—			—			(14	)		—			—		—			(14	)
2012 payments for 2007 and prior initiatives		—			—			—			(2	)		(1	)		—		—			(3	)
2012 payments for 2009 initiatives		—			—			(1	)		—			(5	)		—		—			(6	)
2012 payments for 2010 initiatives		—			(1	)		—			(1	)		—			—		(1	)		(3	)
2012 payments for 2011 initiatives		—			—			(12	)		(12	)		—			—		—			(24	)
2012 payments for 2012 initiatives		(7	)		—			(2	)		—			—			—		—			(9	)
Foreign currency effect on liability balance		—			—			—			1			1			—		(1	)		1

Accrued liabilities as of September 30, 2012	$	30		$	—		$	3		$	49		$	2		$	6	$	—		$	90

Current portion of restructuring reserves	$	18		$	—		$	2		$	28		$	2		$	6	$	—		$	56
Long-term portion of restructuring reserve		12			—			1			21			—			—		—			34
Estimated additional future charges for current restructuring projects
Estimated additional charges within one year		1			—			—			15			—			—		—			16
Estimated additional charges beyond one year		—			—			—			4			—			—		—			4

Cash and non-cash restructuring charges by initiative

	Three months ended September 30, 2012			Nine months ended September 30, 2012

Cash charges:
2012 charges for 2007 and prior initiatives	$	—		$	2
2012 charges for 2009 initiatives		1			5
2012 charges for 2010 initiatives		—			1
2012 charges for 2011 initiatives		5			9
2012 charges for 2012 initiatives		33			39
Reversal of reserves no longer required		(1	)		(14	)
Noncash charges		9			10

Total 2012 Restructuring, Impairment and Plant Closing Costs	$	47		$	52

	Three months ended September 30, 2011			Nine months ended September 30, 2011

Cash charges:
2011 charges for 2007 and prior initiatives	$	—		$	2
2011 charges for 2009 initiatives		2			5
2011 charges for 2010 initiatives		2			5
2011 charges for 2011 initiatives		99			110
Reversal of reserves no longer required		(1	)		(4	)
Noncash charges		53			53

Total 2011 Restructuring, Impairment and Plant Closing Costs	$	155		$	171

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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