Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Employee Benefit Plans

v3.22.1
Note 12 - Employee Benefit Plans
 3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANS

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Components of the net periodic benefit costs from continuing operations for the three months ended March 31, 2022 and 2021 were as follows (dollars in millions):

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Huntsman Corporation

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Other postretirement

  
   

Defined benefit plans

    

benefit plans

  
   

Three months

    

Three months

  
   

ended

    

ended

  
   

March 31,

    

March 31,

  
   

2022

    

2021

    

2022

    

2021

  

Service cost

   $ 12     $ 14     $ —     $ —  

Interest cost

     14       12       —       —  

Expected return on assets

     (42 )     (42 )     —       —  

Amortization of prior service benefit

     (1 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

     14       23       1       1  

Settlement loss

     —       3       —       —  

Net periodic benefit cost

   $ (3 )   $ 8     $ —     $ —  

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Huntsman International

​

                   

Other postretirement

  
   

Defined benefit plans

    

benefit plans

  
   

Three months

    

Three months

  
   

ended

    

ended

  
   

March 31,

    

March 31,

  
   

2022

    

2021

    

2022

    

2021

  

Service cost

   $ 12     $ 14     $ —     $ —  

Interest cost

     14       12       —       —  

Expected return on assets

     (42 )     (42 )     —       —  

Amortization of prior service benefit

     (1 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

     14       24       1       1  

Settlement loss

     —       3       —       —  

Net periodic benefit cost

   $ (3 )   $ 9     $ —     $ —  

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During the three months ended March 31, 2022 and 2021, we made contributions to our pension and other postretirement benefit plans of $13 million and $14 million, respectively. During the remainder of 2022, we expect to contribute an additional amount of approximately $36 million to these plans.

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