Annual report pursuant to Section 13 and 15(d)

Note 26 - Operating Segment Information - Financial Information By Segment (Details)

v3.22.0.1
Note 26 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues [1] $ 8,453 $ 6,018 $ 6,797
Segment adjusted EBITDA [2] 1,539 808 1,001
Interest expense, net—continuing operations (67) (86) (111)
Depreciation and amortization—continuing operations (296) (283) (270)
Corporate and other costs, net(2) [3] (196) (161) (155)
Net income attributable to noncontrolling interests 59 32 36
Business acquisition and integration expenses and purchase accounting inventory adjustments (22) (31) (5)
Fair value adjustments to Venator investment and related loss on disposal (28) (88) (18)
Loss on early extinguishment of debt (27) 0 (23)
Certain legal and other settlements and related expenses (13) (5) (6)
Income associated with the Albemarle Settlement, net 465 0 0
Gain (loss) on sale of businesses/assets 30 280 (21)
Income from transition services arrangements 8 7 0
Certain nonrecurring information technology project implementation costs (8) (6) (4)
Amortization of pension and postretirement actuarial losses (86) (76) (66)
Plant incident remediation costs 0 (2) (8)
Restructuring, impairment and plant closing and transition (costs) credits(3) [4] (45) (52) 41
Income from continuing operations before income taxes 1,313 337 391
Income tax (expense) benefit—continuing operations (209) (46) 38
Income from discontinued operations, net of tax 0 775 169
Net income 1,104 1,066 598
Depreciation and amortization - continuing operations 296 283 270
Capital expenditures 342 249 274
Total assets 9,392 8,713  
Goodwill 650 533  
Corporate and other costs, net(2) [3] 196 161 155
Fair value adjustments to Venator investment and related loss on disposal (28) (88) (18)
Huntsman International LLC [Member]      
Revenues 8,453 6,018 6,797
Interest expense, net—continuing operations (67) (88) (126)
Depreciation and amortization—continuing operations (296) (283) (270)
Corporate and other costs, net(2) [3] 189 155 150
Net income attributable to noncontrolling interests 59 32 36
Business acquisition and integration expenses and purchase accounting inventory adjustments (22) (31) (5)
Fair value adjustments to Venator investment and related loss on disposal (28) (88) (18)
Loss on early extinguishment of debt (27) 0 (23)
Certain legal and other settlements and related expenses (13) (5) (6)
Income associated with the Albemarle Settlement, net 465 0 0
Gain (loss) on sale of businesses/assets 30 280 (21)
Income from transition services arrangements 8 7 0
Certain nonrecurring information technology project implementation costs (8) (6) (4)
Amortization of pension and postretirement actuarial losses (89) (79) (70)
Plant incident remediation costs 0 (2) (8)
Restructuring, impairment and plant closing and transition (costs) credits(3) [4] (45) (52) 41
Income from continuing operations before income taxes 1,317 338 377
Income tax (expense) benefit—continuing operations (210) (46) 41
Income from discontinued operations, net of tax 0 775 169
Net income 1,107 1,067 587
Depreciation and amortization - continuing operations 296 283 270
Capital expenditures 342 249 274
Total assets 9,631 8,756  
Goodwill 650 533  
Corporate and other costs, net(2) [3] (189) (155) (150)
Fair value adjustments to Venator investment and related loss on disposal (28) (88) (18)
Operating Segments [Member]      
Revenues 8,485 6,043 6,876
Depreciation and amortization—continuing operations (283) (270) (253)
Depreciation and amortization - continuing operations 283 270 253
Capital expenditures 326 237 263
Total assets 7,642 6,515  
Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [2] 1,539 808 1,001
Depreciation and amortization—continuing operations (283) (270) (253)
Depreciation and amortization - continuing operations 283 270 253
Capital expenditures 326 237 263
Total assets 7,642 6,515  
Consolidation, Eliminations [Member]      
Revenues (32) (25) (79)
Corporate and Reconciling Items [Member]      
Revenues [1] (32) (25) (79)
Depreciation and amortization—continuing operations (13) (13) (17)
Depreciation and amortization - continuing operations 13 13 17
Capital expenditures 16 12 11
Total assets 1,750 2,198  
Corporate and Reconciling Items [Member] | Huntsman International LLC [Member]      
Depreciation and amortization—continuing operations (13) (13) (17)
Depreciation and amortization - continuing operations 13 13 17
Capital expenditures 16 12 11
Total assets 1,989 2,241  
Polyurethanes [Member] | Operating Segments [Member]      
Revenues [1] 5,019 3,584 3,911
Segment adjusted EBITDA [2] 879 472 548
Depreciation and amortization—continuing operations (131) (130) (120)
Depreciation and amortization - continuing operations 131 130 120
Capital expenditures 243 172 185
Total assets 4,624 3,970  
Goodwill 344 312  
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [2] 879 472 548
Depreciation and amortization—continuing operations (131) (130) (120)
Depreciation and amortization - continuing operations 131 130 120
Capital expenditures 243 172 185
Total assets 4,624 3,970  
Goodwill 344 312  
Performance Products [Member] | Operating Segments [Member]      
Revenues [1] 1,485 1,023 1,158
Segment adjusted EBITDA [2] 359 164 168
Depreciation and amortization—continuing operations (74) (79) (81)
Depreciation and amortization - continuing operations 74 79 81
Capital expenditures 42 32 32
Total assets 1,207 1,062  
Goodwill 16 18  
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [2] 359 164 168
Depreciation and amortization—continuing operations (74) (79) (81)
Depreciation and amortization - continuing operations 74 79 81
Capital expenditures 42 32 32
Total assets 1,207 1,062  
Goodwill 16 18  
Advanced Materials [Member] | Operating Segments [Member]      
Revenues [1] 1,198 839 1,044
Segment adjusted EBITDA [2] 204 130 201
Depreciation and amortization—continuing operations (60) (45) (36)
Depreciation and amortization - continuing operations 60 45 36
Capital expenditures 25 21 24
Total assets 1,324 1,002  
Goodwill 290 203  
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [2] 204 130 201
Depreciation and amortization—continuing operations (60) (45) (36)
Depreciation and amortization - continuing operations 60 45 36
Capital expenditures 25 21 24
Total assets 1,324 1,002  
Goodwill 290 203  
Textile Effects [Member] | Operating Segments [Member]      
Revenues [1] 783 597 763
Segment adjusted EBITDA [2] 97 42 84
Depreciation and amortization—continuing operations (18) (16) (16)
Depreciation and amortization - continuing operations 18 16 16
Capital expenditures 16 12 22
Total assets 487 481  
Textile Effects [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [2] 97 42 84
Depreciation and amortization—continuing operations (18) (16) (16)
Depreciation and amortization - continuing operations 18 16 16
Capital expenditures 16 12 $ 22
Total assets $ 487 $ 481  
[1] Geographic information for revenues is based upon countries into which product is sold.
[2] We use segment adjusted EBITDA as the measure of each segment’s profit or loss. We believe that segment adjusted EBITDA more accurately reflects what the chief operating decision maker uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) business acquisition and integration expenses and purchase accounting inventory adjustments; (b) fair value adjustments to Venator investment and related loss on disposal; (c) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) income (expenses) associated with the Albemarle Settlement, net; (f) gain (loss) on sale of businesses/assets; (g) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (h) certain nonrecurring information technology project implementation costs; (i) amortization of pension and postretirement actuarial losses; (j) plant incident remediation costs; (k) restructuring, impairment, plant closing and transition (costs) credits; and (l) (loss) income from discontinued operations, net of tax.
[3] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[4] Includes costs associated with transition activities relating primarily to our Corporate program to optimize our global approach to leverage shared services capabilities as well as our 2020 CVC Thermoset Specialties Acquisition.