Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents [1] $ 615 $ 654
Accounts and notes receivable [1] 878 813
Inventories [1] 1,048 995
Other current assets 150 190
Current assets held for sale 0 472
Total current assets 2,700 3,145
Property, plant and equipment, net [1] 2,366 2,377
Investment in unconsolidated affiliates 441 425
Intangible assets, net 415 425
Goodwill 642 641
Deferred income taxes 136 147
Operating lease right-of-use assets 367 374
Other noncurrent assets [1] 696 686
Total assets 7,763 8,220
Current liabilities:    
Accrued liabilities [1] 381 429
Current portion of debt [1] 11 66
Current operating lease liabilities [1] 48 51
Current liabilities held for sale 0 194
Total current liabilities 1,297 1,701
Long-term debt [1] 1,509 1,671
Deferred income taxes 238 250
Noncurrent operating lease liabilities [1] 334 336
Other noncurrent liabilities [1] 395 422
Total liabilities 3,773 4,380
Commitments and contingencies (Notes 14 and 15)
Common stock $0.01 par value, 1,200,000,000 shares authorized, 261,880,013 and 261,148,217 shares issued and 180,894,240 and 183,634,464 shares outstanding, respectively 3 3
Additional paid-in capital 4,195 4,156
Treasury stock, 80,985,773 and 77,513,753 shares, respectively (2,038) (1,937)
Unearned stock-based compensation (58) (35)
Retained earnings 2,804 2,705
Accumulated other comprehensive loss (1,143) (1,268)
Total Huntsman Corporation stockholders’ equity 3,763 3,624
Noncontrolling interests in subsidiaries 227 216
Total equity 3,990 3,840
Total liabilities and equity 7,763 8,220
Related Party [Member]    
Current assets:    
Accounts receivable from affiliates 9 21
Current liabilities:    
Accounts payable 66 54
Nonrelated Party [Member]    
Current liabilities:    
Accounts payable [1] 791 907
Huntsman International LLC [Member]    
Current assets:    
Cash and cash equivalents [1] 615 654
Accounts and notes receivable [1] 878 813
Inventories [1] 1,048 995
Other current assets 150 196
Current assets held for sale 0 472
Total current assets 2,700 3,151
Property, plant and equipment, net [1] 2,366 2,377
Investment in unconsolidated affiliates 441 425
Intangible assets, net 415 425
Goodwill 642 641
Deferred income taxes 136 147
Operating lease right-of-use assets 367 374
Other noncurrent assets [1] 696 686
Total assets 7,763 8,226
Current liabilities:    
Accrued liabilities [1] 374 427
Current portion of debt [1] 11 66
Current operating lease liabilities [1] 48 51
Current liabilities held for sale 0 194
Total current liabilities 1,286 1,699
Long-term debt [1] 1,509 1,671
Deferred income taxes 242 254
Noncurrent operating lease liabilities [1] 334 336
Other noncurrent liabilities [1] 390 414
Total liabilities 3,761 4,374
Retained earnings 1,133 1,130
Accumulated other comprehensive loss (1,127) (1,253)
Total equity 4,002 3,852
Total liabilities and equity 7,763 8,226
Members’ equity, 2,728 units issued and outstanding 3,769 3,759
Total Huntsman International LLC members’ equity 3,775 3,636
Noncontrolling interests in subsidiaries 227 216
Huntsman International LLC [Member] | Related Party [Member]    
Current assets:    
Accounts receivable from affiliates 9 21
Current liabilities:    
Accounts payable 66 54
Huntsman International LLC [Member] | Nonrelated Party [Member]    
Current liabilities:    
Accounts payable [1] $ 787 $ 907
[1] At March 31, 2023 and December 31, 2022, respectively, $12 and $5 of cash and cash equivalents, $6 and $4 of accounts and notes receivable (net), $57 and $59 of inventories, $147 and $149 of property, plant and equipment (net), $29 each of other noncurrent assets, $97 and $114 of accounts payable, $13 and $12 of accrued liabilities, $9 each of current portion of debt, $10 and $9 of current operating lease liabilities, $24 and $26 of long-term debt, $18 and $19 of noncurrent operating lease liabilities and $24 and $25 of other noncurrent liabilities from consolidated variable interest entities are included in the respective balance sheet captions above. See “Note 5. Variable Interest Entities.” These assets can only be used to settle obligations of the variable interest entities, and creditors of these liabilities do not have recourse to our general credit.