Annual report pursuant to Section 13 and 15(d)

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

v3.22.4
Note 26 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues [1] $ 8,023 $ 7,670 $ 5,421
Segment adjusted EBITDA [2] 1,330 1,442 766
Interest expense, net—continuing operations (62) (67) (86)
Depreciation and amortization—continuing operations (281) (278) (267)
Corporate and other costs, net(2) [3] (175) (196) (161)
Net income attributable to noncontrolling interests 63 59 32
Business acquisition and integration expenses and purchase accounting inventory adjustments (12) (22) (31)
Fair value adjustments to Venator investment, net and related loss on disposal (12) (28) (88)
Gain (Loss) on Extinguishment of Debt, Total 0 (27) 0
Certain legal and other settlements and related expenses (7) (13) (5)
(Costs) income associated with the Albemarle Settlement, net (3) 465 0
Gain on sale of businesses/assets 0 30 280
Income from transition services arrangements 2 8 7
Certain nonrecurring information technology project implementation costs (5) (8) (6)
Amortization of pension and postretirement actuarial losses (49) (74) (64)
Plant incident remediation credits (costs) 4 0 (2)
Restructuring, impairment and plant closing and transition costs(3) [4] (96) (45) (44)
Income from continuing operations before income taxes 697 1,246 331
Income tax expense—continuing operations (186) (191) (42)
Income from discontinued operations, net of tax 12 49 777
Net income 523 1,104 1,066
Depreciation and amortization - continuing operations 281 278 267
Capital expenditures 272 326 237
Total assets 7,748 8,864  
Goodwill 641 650  
Corporate and other costs, net(2) [3] 175 196 161
Loss on early extinguishment of debt 0 (27) 0
Gain on sale of businesses/assets 0 30 280
Plant incident remediation credits (costs) (4) 0 2
Huntsman International LLC [Member]      
Revenues 8,023 7,670 5,421
Interest expense, net—continuing operations (62) (67) (88)
Depreciation and amortization—continuing operations (281) (278) (267)
Corporate and other costs, net(2) [5] 172 190 155
Net income attributable to noncontrolling interests 63 59 32
Business acquisition and integration expenses and purchase accounting inventory adjustments (12) (22) (31)
Fair value adjustments to Venator investment, net and related loss on disposal (12) (28) (88)
Gain (Loss) on Extinguishment of Debt, Total 0 (27) 0
Certain legal and other settlements and related expenses (7) (13) (5)
(Costs) income associated with the Albemarle Settlement, net (3) 465 0
Gain on sale of businesses/assets 0 30 280
Income from transition services arrangements 2 8 7
Certain nonrecurring information technology project implementation costs (5) (8) (6)
Amortization of pension and postretirement actuarial losses (49) (76) (67)
Plant incident remediation credits (costs) (4) (0) 2
Income from continuing operations before income taxes 700 1,250 332
Income tax expense—continuing operations (188) (192) (42)
Income from discontinued operations, net of tax 12 49 777
Net income 524 1,107 1,067
Depreciation and amortization - continuing operations 281 278 267
Capital expenditures 272 326 237
Total assets 7,754 9,103  
Goodwill 641 650  
Corporate and other costs, net(2) [5] (172) (190) (155)
Loss on early extinguishment of debt 0 (27) 0
Gain on sale of businesses/assets 0 30 280
Plant incident remediation credits (costs) 4 0 (2)
Restructuring, impairment and plant closing and transition costs(3) (96) (45) (44)
Operating Segments [Member]      
Revenues 8,057 7,702 5,446
Depreciation and amortization—continuing operations (265) (265) (254)
Depreciation and amortization - continuing operations 265 265 254
Capital expenditures 260 310 225
Total assets 6,687 7,155  
Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 1,330 1,442 766
Depreciation and amortization—continuing operations (265) (265) (254)
Depreciation and amortization - continuing operations 265 265 254
Capital expenditures 260 310 225
Total assets 6,687 7,155  
Consolidation, Eliminations [Member]      
Revenues (34) (32) (25)
Corporate and Reconciling Items [Member]      
Revenues [1] (34) (32) (25)
Depreciation and amortization—continuing operations (16) (13) (13)
Depreciation and amortization - continuing operations 16 13 13
Capital expenditures 12 16 12
Total assets 1,061 1,709  
Corporate and Reconciling Items [Member] | Huntsman International LLC [Member]      
Depreciation and amortization—continuing operations (16) (13) (13)
Depreciation and amortization - continuing operations 16 13 13
Capital expenditures 12 16 12
Total assets 1,067 1,948  
Polyurethanes [Member] | Operating Segments [Member]      
Revenues [1] 5,067 5,019 3,584
Segment adjusted EBITDA [2] 628 879 472
Depreciation and amortization—continuing operations (136) (131) (130)
Depreciation and amortization - continuing operations 136 131 130
Capital expenditures 142 243 172
Total assets 4,286 4,624  
Goodwill 336 344  
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 628 879 472
Depreciation and amortization—continuing operations (136) (131) (130)
Depreciation and amortization - continuing operations 136 131 130
Capital expenditures 142 243 172
Total assets 4,286 4,624  
Goodwill 336 344  
Performance Products [Member] | Operating Segments [Member]      
Revenues [1] 1,713 1,485 1,023
Segment adjusted EBITDA [2] 469 359 164
Depreciation and amortization—continuing operations (72) (74) (79)
Depreciation and amortization - continuing operations 72 74 79
Capital expenditures 92 42 32
Total assets 1,155 1,207  
Goodwill 15 16  
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 469 359 164
Depreciation and amortization—continuing operations (72) (74) (79)
Depreciation and amortization - continuing operations 72 74 79
Capital expenditures 92 42 32
Total assets 1,155 1,207  
Goodwill 15 16  
Advanced Materials [Member] | Operating Segments [Member]      
Revenues [1] 1,277 1,198 839
Segment adjusted EBITDA [2] 233 204 130
Depreciation and amortization—continuing operations (57) (60) (45)
Depreciation and amortization - continuing operations 57 60 45
Capital expenditures 26 25 21
Total assets 1,246 1,324  
Goodwill 290 290  
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 233 204 130
Depreciation and amortization—continuing operations (57) (60) (45)
Depreciation and amortization - continuing operations 57 60 45
Capital expenditures 26 25 $ 21
Total assets 1,246 1,324  
Goodwill $ 290 $ 290  
[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, certain Corporate and other items and income from discontinued operations, 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, net; (c) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) costs associated with the Albemarle Settlement, net; (f) (loss) gain on sale of business/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 credits (costs); and (k) restructuring, impairment, plant closing and transition costs.
[3] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[4] Includes costs associated with transition activities related primarily to our Corporate program to optimize our global approach to leverage shared services capabilities.
[5] 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.
[6] 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.