Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net income $ 482 $ 272
Less: Income from discontinued operations, net of tax (1) (2)
Income from continuing operations 481 270
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (34) (84)
Unrealized net losses on fair value adjustments to Venator investment 2 25
Cash received from return on investment in unconsolidated subsidiary 55 28
Depreciation and amortization 143 147
Noncash lease expense 33 33
Gain on disposal of businesses/assets 0 (28)
Loss on early extinguishment of debt 0 27
Noncash restructuring and impairment charges 0 15
Deferred income taxes 55 2
Stock-based compensation 21 16
Other, net (8) (2)
Changes in operating assets and liabilities:    
Accounts and notes receivable (142) (214)
Inventories (239) (332)
Other current assets 357 12
Other noncurrent assets (13) (77)
Accounts payable (9) 173
Accrued liabilities (336) (15)
Other noncurrent liabilities (50) (19)
Net cash provided by (used in) operating activities from continuing operations 316 (23)
Net cash used in operating activities from discontinued operations 0 (1)
Net cash provided by (used in) operating activities 316 (24)
Investing Activities:    
Capital expenditures (138) (174)
Cash received from sale of business 0 43
Acquisition of business, net of cash acquired 0 (242)
Insurance proceeds for recovery of property damage 5 3
Other, net 4 1
Net cash used in investing activities (129) (369)
Financing Activities:    
Net borrowings on revolving loan facilities 0 8
Proceeds from issuance of long-term debt 0 400
Repayments of long-term debt (6) (962)
Debt issuance costs paid 0 (3)
Dividends paid to noncontrolling interests 0 (30)
Dividends paid to common stockholders (91) (78)
Repurchase and cancellation of awards (14) (7)
Repurchase of common stock (504) 0
Proceeds from issuance of common stock 6 6
Costs of early extinguishment of debt 0 (26)
Other, net 0 1
Net cash used in financing activities (609) (691)
Effect of exchange rate changes on cash (11) 1
Decrease in cash and cash equivalents (433) (1,083)
Cash and cash equivalents at beginning of period 1,041 1,593
Cash and cash equivalents at end of period 608 510
Supplemental cash flow information:    
Cash paid for interest 33 47
Cash paid for income taxes 154 76
Huntsman International LLC [Member]    
Operating Activities:    
Net income 486 275
Less: Income from discontinued operations, net of tax (1) (2)
Income from continuing operations 485 273
Adjustments to reconcile income from continuing operations to net cash provided by (used in) operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (34) (84)
Unrealized net losses on fair value adjustments to Venator investment 2 25
Cash received from return on investment in unconsolidated subsidiary 55 28
Depreciation and amortization 143 147
Noncash lease expense 33 33
Gain on disposal of businesses/assets 0 (28)
Loss on early extinguishment of debt 0 27
Noncash restructuring and impairment charges 0 15
Deferred income taxes 56 1
Other, net (9) (4)
Noncash compensation 19 15
Changes in operating assets and liabilities:    
Accounts and notes receivable (142) (214)
Inventories (239) (332)
Other current assets 355 18
Other noncurrent assets (13) (77)
Accounts payable (9) 172
Accrued liabilities (333) (21)
Other noncurrent liabilities (50) (17)
Net cash provided by (used in) operating activities from continuing operations 319 (23)
Net cash used in operating activities from discontinued operations 0 (1)
Net cash provided by (used in) operating activities 319 (24)
Investing Activities:    
Capital expenditures (138) (174)
Cash received from sale of business 0 43
Acquisition of business, net of cash acquired 0 (242)
Insurance proceeds for recovery of property damage 5 3
Other, net 4 1
Net cash used in investing activities (645) (377)
Increase in receivable from affiliate (516) (8)
Financing Activities:    
Net borrowings on revolving loan facilities 0 8
Proceeds from issuance of long-term debt 0 400
Repayments of long-term debt (6) (962)
Debt issuance costs paid 0 (3)
Dividends paid to noncontrolling interests 0 (30)
Costs of early extinguishment of debt 0 (26)
Other, net (1) 0
Net cash used in financing activities (94) (690)
Effect of exchange rate changes on cash (11) 1
Decrease in cash and cash equivalents (431) (1,090)
Dividends paid to parent (87) (77)
Cash and cash equivalents at beginning of period 1,039 1,591
Cash and cash equivalents at end of period 608 501
Supplemental cash flow information:    
Cash paid for interest 33 47
Cash paid for income taxes $ 154 $ 76