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

Quarterly report pursuant to Section 13 or 15(d)

Note 20 - Operating Segment Information (Tables)

Note 20 - Operating Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three months						Six months
	ended						ended
	June 30,						June 30,
	2022			2021			2022			2021
Revenues:
Polyurethanes	$	1,353		$	1,155		$	2,739		$	2,223
Performance Products		492			371			972			676
Advanced Materials		336			299			671			577
Textile Effects		192			207			389			400
Total reportable segments’ revenue		2,373			2,032			4,771			3,876
Intersegment eliminations		(11	)		(8	)		(20	)		(15	)
Total	$	2,362		$	2,024		$	4,751		$	3,861

Huntsman Corporation:
Segment adjusted EBITDA(1):
Polyurethanes	$	229		$	208		$	453		$	415
Performance Products		152			88			298			151
Advanced Materials		67			58			134			102
Textile Effects		22			28			50			53
Total reportable segments’ adjusted EBITDA		470			382			935			721

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations		(16	)		(18	)		(30	)		(37	)
Depreciation and amortization—continuing operations		(72	)		(73	)		(143	)		(147	)
Corporate and other costs, net(2)		(38	)		(48	)		(88	)		(98	)
Net income attributable to noncontrolling interests		14			16			31			33
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(4	)		(5	)		(10	)		(14	)
Fair value adjustments to Venator investment, net		—			(6	)		(2	)		(25	)
Loss on early extinguishment of debt		—			(27	)		—			(27	)
Certain legal and other settlements and related expenses		(2	)		(8	)		(14	)		(10	)
Costs associated with the Albemarle Settlement, net		(1	)		—			(2	)		—
(Loss) gain on sale of business/assets		(7	)		30			(11	)		30
Income from transition services arrangements		1			3			2			4
Certain nonrecurring information technology project implementation costs		(1	)		(3	)		(3	)		(4	)
Amortization of pension and postretirement actuarial losses		(13	)		(21	)		(27	)		(43	)
Plant incident remediation credits (costs)		5			3			5			(1	)
Restructuring, impairment and plant closing and transition costs(3)		(27	)		(12	)		(30	)		(36	)
Income from continuing operations before income taxes		309			213			613			346

Income tax expense—continuing operations		(67	)		(42	)		(132	)		(76	)
Income from discontinued operations		—			1			1			2
Net income	$	242		$	172		$	482		$	272

	*Three months*						*Six months*
	*ended*						*ended*
	*June 30,*						*June 30,*
	*2022*			*2021*			*2022*			*2021*
Huntsman International:
Segment adjusted EBITDA(1):
Polyurethanes	$	229		$	208		$	453		$	415
Performance Products		152			88			298			151
Advanced Materials		67			58			134			102
Textile Effects		22			28			50			53
Total reportable segments’ adjusted EBITDA		470			382			935			721

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations		(16	)		(18	)		(30	)		(37	)
Depreciation and amortization—continuing operations		(72	)		(74	)		(143	)		(147	)
Corporate and other costs, net(2)		(36	)		(46	)		(83	)		(93	)
Net income attributable to noncontrolling interests		14			16			31			33
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(4	)		(5	)		(10	)		(14	)
Fair value adjustments to Venator investment, net		—			(6	)		(2	)		(25	)
Loss on early extinguishment of debt		—			(27	)		—			(27	)
Certain legal and other settlements and related expenses		(2	)		(8	)		(14	)		(10	)
Costs associated with the Albemarle Settlement, net		(1	)		—			(2	)		—
(Loss) gain on sale of business/assets		(7	)		30			(11	)		30
Income from transition services arrangements		1			3			2			4
Certain nonrecurring information technology project implementation costs		(1	)		(3	)		(3	)		(4	)
Amortization of pension and postretirement actuarial losses		(13	)		(22	)		(27	)		(45	)
Plant incident remediation credits (costs)		5			3			5			(1	)
Restructuring, impairment and plant closing and transition costs(3)		(27	)		(12	)		(30	)		(36	)
Income from continuing operations before income taxes		311			213			618			349

Income tax expense—continuing operations		(68	)		(41	)		(133	)		(76	)
Income from discontinued operations		—			1			1			2
Net income	$	243		$	173		$	486		$	275