| Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
HUNTSMAN CORPORATION (PARENT ONLY)
Schedule I—Condensed Financial Information of Registrant
HUNTSMAN CORPORATION (Parent Only)
BALANCE SHEETS
(In Millions, Except Share and Per Share Amounts)
| |
|
December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| ASSETS |
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
2 |
|
|
$ |
2 |
|
| Prepaid assets |
|
|
2 |
|
|
|
2 |
|
| Receivable from affiliate |
|
|
2 |
|
|
|
3 |
|
| Total current assets |
|
|
6 |
|
|
|
7 |
|
| Investment in and advances to affiliates |
|
|
4,630 |
|
|
|
3,561 |
|
| Total assets |
|
$ |
4,636 |
|
|
$ |
3,568 |
|
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
3 |
|
|
$ |
— |
|
| Payable to affiliate |
|
|
242 |
|
|
|
39 |
|
| Accrued liabilities |
|
|
4 |
|
|
|
3 |
|
| Total current liabilities |
|
|
249 |
|
|
|
42 |
|
| Other noncurrent liabilities |
|
|
9 |
|
|
|
7 |
|
| Total liabilities |
|
|
258 |
|
|
|
49 |
|
| STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| Common stock $0.01 par value, 1,200,000,000 shares authorized, 259,701,770 and 258,520,411 shares issued and 214,170,287 and 220,046,262 shares outstanding, respectively |
|
|
3 |
|
|
|
3 |
|
| Additional paid-in capital |
|
|
4,102 |
|
|
|
4,048 |
|
| Treasury stock, 45,531,489 and 38,477,091 shares, respectively |
|
|
(934 |
) |
|
|
(731 |
) |
| Unearned stock-based compensation |
|
|
(25 |
) |
|
|
(19 |
) |
| Retained earnings |
|
|
2,435 |
|
|
|
1,564 |
|
| Accumulated other comprehensive loss |
|
|
(1,203 |
) |
|
|
(1,346 |
) |
| Total stockholders’ equity |
|
|
4,378 |
|
|
|
3,519 |
|
| Total liabilities and stockholders’ equity |
|
$ |
4,636 |
|
|
$ |
3,568 |
|
The accompanying notes are an integral part of the condensed financial information.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF OPERATIONS
(In Millions)
| |
|
Year ended December 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2019 |
|
| Selling, general and administrative expenses |
|
$ |
(7 |
) |
|
$ |
(6 |
) |
|
$ |
(5 |
) |
| Interest income |
|
|
— |
|
|
|
2 |
|
|
|
15 |
|
| Equity in income of subsidiaries |
|
|
891 |
|
|
|
892 |
|
|
|
401 |
|
| Dividend income—affiliate |
|
|
158 |
|
|
|
144 |
|
|
|
148 |
|
| Other income |
|
|
3 |
|
|
|
2 |
|
|
|
3 |
|
| Net income |
|
$ |
1,045 |
|
|
$ |
1,034 |
|
|
$ |
562 |
|
The accompanying notes are an integral part of the condensed financial information.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF COMPREHENSIVE INCOME
(In Millions)
| |
|
Year ended December 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2019 |
|
| Net income |
|
$ |
1,045 |
|
|
$ |
1,034 |
|
|
$ |
562 |
|
| Other comprehensive income, net of tax: |
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency translations adjustments |
|
|
(92 |
) |
|
|
41 |
|
|
|
2 |
|
| Pension and other postretirement benefits adjustments |
|
|
240 |
|
|
|
(19 |
) |
|
|
(37 |
) |
| Other, net |
|
|
61 |
|
|
|
32 |
|
|
|
35 |
|
| Other comprehensive income, net of tax |
|
|
209 |
|
|
|
54 |
|
|
|
— |
|
| Comprehensive income |
|
|
1,254 |
|
|
|
1,088 |
|
|
|
562 |
|
| Comprehensive income attributable to noncontrolling interests |
|
|
(66 |
) |
|
|
(38 |
) |
|
|
(31 |
) |
| Comprehensive income attributable to Huntsman Corporation |
|
$ |
1,188 |
|
|
$ |
1,050 |
|
|
$ |
531 |
|
The accompanying notes are an integral part of the condensed financial information.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF STOCKHOLDERS’ EQUITY
(In Millions, Except Share Amounts)
| |
|
Huntsman Corporation Stockholders’ Equity |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
| |
|
Shares |
|
|
|
|
|
|
Additional |
|
|
|
|
|
|
Unearned |
|
|
|
|
|
other |
|
|
|
|
|
| |
|
Common |
|
|
Common |
|
|
paid-in |
|
|
Treasury |
|
|
stock-based |
|
|
Retained |
|
|
comprehensive |
|
|
Total |
|
| |
|
stock |
|
|
stock |
|
|
capital |
|
|
stock |
|
|
compensation |
|
|
earnings |
|
|
loss |
|
|
equity |
|
| Beginning balance, January 1, 2019 |
|
|
232,994,172 |
|
|
$ |
3 |
|
|
$ |
3,984 |
|
|
$ |
(427 |
) |
|
$ |
(16 |
) |
|
$ |
292 |
|
|
$ |
(1,316 |
) |
|
$ |
2,520 |
|
| Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
562 |
|
|
|
— |
|
|
|
562 |
|
| Other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(46 |
) |
|
|
(46 |
) |
| Issuance of nonvested stock awards |
|
|
— |
|
|
|
— |
|
|
|
17 |
|
|
|
— |
|
|
|
(17 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Vesting of stock awards |
|
|
1,643,368 |
|
|
|
— |
|
|
|
7 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
7 |
|
| Recognition of stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
— |
|
|
|
16 |
|
|
|
— |
|
|
|
— |
|
|
|
23 |
|
| Repurchase and cancellation of stock awards |
|
|
(488,441 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(12 |
) |
|
|
— |
|
|
|
(12 |
) |
| Stock options exercised |
|
|
246,661 |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
2 |
|
| Treasury stock repurchased |
|
|
(10,099,892 |
) |
|
|
— |
|
|
|
— |
|
|
|
(208 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(208 |
) |
| Acquisition of noncontrolling interests, net of tax |
|
|
— |
|
|
|
— |
|
|
|
(11 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(11 |
) |
| Dividends declared on common stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(150 |
) |
|
|
— |
|
|
|
(150 |
) |
| Balance, December 31, 2019 |
|
|
224,295,868 |
|
|
|
3 |
|
|
|
4,008 |
|
|
|
(635 |
) |
|
|
(17 |
) |
|
|
690 |
|
|
|
(1,362 |
) |
|
|
2,687 |
|
| Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,034 |
|
|
|
— |
|
|
|
1,034 |
|
| Other comprehensive income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16 |
|
|
|
16 |
|
| Issuance of nonvested stock awards |
|
|
— |
|
|
|
— |
|
|
|
18 |
|
|
|
— |
|
|
|
(18 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Vesting of stock awards |
|
|
960,406 |
|
|
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5 |
|
| Recognition of stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
— |
|
|
|
16 |
|
|
|
— |
|
|
|
— |
|
|
|
23 |
|
| Repurchase and cancellation of stock awards |
|
|
(287,247 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(8 |
) |
|
|
— |
|
|
|
(8 |
) |
| Stock options exercised |
|
|
441,754 |
|
|
|
— |
|
|
|
10 |
|
|
|
— |
|
|
|
— |
|
|
|
(7 |
) |
|
|
— |
|
|
|
3 |
|
| Treasury stock repurchased |
|
|
(5,364,519 |
) |
|
|
— |
|
|
|
— |
|
|
|
(96 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(96 |
) |
| Dividends declared to noncontrolling interests |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Dividends declared on common stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(145 |
) |
|
|
— |
|
|
|
(145 |
) |
| Balance, December 31, 2020 |
|
|
220,046,262 |
|
|
|
3 |
|
|
|
4,048 |
|
|
|
(731 |
) |
|
|
(19 |
) |
|
|
1,564 |
|
|
|
(1,346 |
) |
|
|
3,519 |
|
| Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,045 |
|
|
|
— |
|
|
|
1,045 |
|
| Other comprehensive income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
143 |
|
|
|
143 |
|
| Issuance of nonvested stock awards |
|
|
— |
|
|
|
— |
|
|
|
26 |
|
|
|
— |
|
|
|
(26 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Vesting of stock awards |
|
|
678,400 |
|
|
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5 |
|
| Recognition of stock-based compensation |
|
|
— |
|
|
|
— |
|
|
|
6 |
|
|
|
— |
|
|
|
20 |
|
|
|
— |
|
|
|
— |
|
|
|
26 |
|
| Repurchase and cancellation of stock awards |
|
|
(238,339 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(7 |
) |
|
|
— |
|
|
|
(7 |
) |
| Stock options exercised |
|
|
738,362 |
|
|
|
— |
|
|
|
17 |
|
|
|
— |
|
|
|
— |
|
|
|
(7 |
) |
|
|
— |
|
|
|
10 |
|
| Treasury stock repurchased |
|
|
(7,054,398 |
) |
|
|
— |
|
|
|
— |
|
|
|
(203 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(203 |
) |
| Dividends declared on common stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(160 |
) |
|
|
— |
|
|
|
(160 |
) |
| Balance, December 31, 2021 |
|
|
214,170,287 |
|
|
$ |
3 |
|
|
$ |
4,102 |
|
|
$ |
(934 |
) |
|
$ |
(25 |
) |
|
$ |
2,435 |
|
|
$ |
(1,203 |
) |
|
$ |
4,378 |
|
The accompanying notes are an integral part of the condensed financial information.
HUNTSMAN CORPORATION (Parent Only)
STATEMENTS OF CASH FLOWS
(In Millions)
| |
|
Year ended December 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2019 |
|
| Operating Activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
1,045 |
|
|
$ |
1,034 |
|
|
$ |
562 |
|
| Equity in income of subsidiaries |
|
|
(891 |
) |
|
|
(892 |
) |
|
|
(401 |
) |
| Stock-based compensation |
|
|
1 |
|
|
|
1 |
|
|
|
1 |
|
| Noncash interest income |
|
|
— |
|
|
|
(2 |
) |
|
|
(15 |
) |
| Changes in operating assets and liabilities |
|
|
(2 |
) |
|
|
(1 |
) |
|
|
13 |
|
| Net cash provided by operating activities |
|
|
153 |
|
|
|
140 |
|
|
|
160 |
|
| Investing Activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Repayments of loan by affiliate |
|
|
— |
|
|
|
380 |
|
|
|
207 |
|
| Net cash provided by investing activities |
|
|
— |
|
|
|
380 |
|
|
|
207 |
|
| Financing Activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends paid to common stockholders |
|
|
(159 |
) |
|
|
(144 |
) |
|
|
(150 |
) |
| Repurchase and cancellation of stock awards |
|
|
(7 |
) |
|
|
(8 |
) |
|
|
(12 |
) |
| Proceeds from issuance of common stock |
|
|
10 |
|
|
|
3 |
|
|
|
2 |
|
| Repurchase of common stock |
|
|
(200 |
) |
|
|
(96 |
) |
|
|
(208 |
) |
| Increase (decrease) in payable to affiliates |
|
|
203 |
|
|
|
(273 |
) |
|
|
1 |
|
| Net cash used in financing activities |
|
|
(153 |
) |
|
|
(518 |
) |
|
|
(367 |
) |
| Increase in cash and cash equivalents |
|
|
— |
|
|
|
2 |
|
|
|
— |
|
| Cash and cash equivalents at beginning of period |
|
|
2 |
|
|
|
— |
|
|
|
— |
|
| Cash and cash equivalents at end of period |
|
$ |
2 |
|
|
$ |
2 |
|
|
$ |
— |
|
The accompanying notes are an integral part of the condensed financial information.
|