Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net income $ 597 $ 497
Less: Income from discontinued operations, net of tax (30) (36)
Income from continuing operations 567 461
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (55) (118)
Unrealized net losses on fair value adjustments to Venator investment 9 28
Cash received from return on investment in unconsolidated subsidiary 61 31
Depreciation and amortization 207 205
Noncash lease expense 47 42
Gain on disposal of businesses/assets 0 (28)
Loss on early extinguishment of debt 0 27
Noncash restructuring and impairment charges (1) 14
Deferred income taxes 81 (22)
Stock-based compensation 26 23
Other, net (15) (6)
Changes in operating assets and liabilities:    
Accounts and notes receivable (60) (335)
Inventories (128) (270)
Other current assets 357 20
Other noncurrent assets (14) (84)
Accounts payable (113) 134
Accrued liabilities (292) 88
Other noncurrent liabilities (82) (28)
Net cash provided by operating activities from continuing operations 595 182
Net cash provided by (used in) operating activities from discontinued operations 9 (20)
Net cash provided by operating activities 604 162
Investing Activities:    
Capital expenditures (186) (241)
Cash received from sale of business 0 43
Acquisition of business, net of cash acquired 0 (245)
Insurance proceeds for recovery of property damage 5 3
Other, net 5 10
Net cash used in investing activities from continuing operations (176) (430)
Net cash used in investing activities from discontinued operations (12) (9)
Net cash used in investing activities (188) (439)
Financing Activities:    
Net borrowings on revolving loan facilities 0 8
Proceeds from issuance of long-term debt 0 427
Repayments of long-term debt (8) (965)
Debt issuance costs paid 0 (4)
Dividends paid to noncontrolling interests 0 (30)
Dividends paid to common stockholders (132) (119)
Repurchase and cancellation of awards (14) (7)
Repurchase of common stock (755) (102)
Proceeds from issuance of common stock 6 7
Costs of early extinguishment of debt 0 (26)
Other, net (2) 2
Net cash used in financing activities (905) (809)
Effect of exchange rate changes on cash (37) (2)
Decrease in cash and cash equivalents (526) (1,088)
Cash and cash equivalents at beginning of period 1,041 1,593
Cash and cash equivalents at end of period 515 505
Supplemental cash flow information:    
Cash paid for interest 41 57
Cash paid for income taxes 171 83
Huntsman International LLC [Member]    
Operating Activities:    
Net income 600 500
Less: Income from discontinued operations, net of tax (30) (36)
Income from continuing operations 570 464
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (55) (118)
Unrealized net losses on fair value adjustments to Venator investment 9 28
Cash received from return on investment in unconsolidated subsidiary 61 31
Depreciation and amortization 207 205
Noncash lease expense 47 42
Gain on disposal of businesses/assets 0 (28)
Loss on early extinguishment of debt 0 27
Noncash restructuring and impairment charges (1) 14
Deferred income taxes 81 (22)
Other, net (15) (8)
Noncash compensation 24 22
Changes in operating assets and liabilities:    
Accounts and notes receivable (60) (335)
Inventories (128) (270)
Other current assets 356 28
Other noncurrent assets (14) (84)
Accounts payable (113) 133
Accrued liabilities (290) 82
Other noncurrent liabilities (82) (25)
Net cash provided by operating activities from continuing operations 597 186
Net cash provided by (used in) operating activities from discontinued operations 9 (20)
Net cash provided by operating activities 606 166
Investing Activities:    
Capital expenditures (186) (241)
Cash received from sale of business 0 43
Acquisition of business, net of cash acquired 0 (245)
Insurance proceeds for recovery of property damage 5 3
Other, net 5 10
Net cash used in investing activities from continuing operations (942) (535)
Net cash used in investing activities from discontinued operations (12) (9)
Net cash used in investing activities (954) (544)
Increase in receivable from affiliate (766) (105)
Financing Activities:    
Net borrowings on revolving loan facilities 0 8
Proceeds from issuance of long-term debt 0 427
Repayments of long-term debt (8) (965)
Debt issuance costs paid 0 (4)
Dividends paid to noncontrolling interests 0 (30)
Costs of early extinguishment of debt 0 (26)
Other, net (2) 2
Net cash used in financing activities (139) (706)
Effect of exchange rate changes on cash (37) (2)
Decrease in cash and cash equivalents (524) (1,086)
Dividends paid to parent (129) (118)
Cash and cash equivalents at beginning of period 1,039 1,591
Cash and cash equivalents at end of period 515 505
Supplemental cash flow information:    
Cash paid for interest 41 57
Cash paid for income taxes $ 171 $ 83