Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Employee Benefit Plans

v3.23.1
Note 11 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Retirement Benefits [Text Block]

11. EMPLOYEE BENEFIT PLANS 

Components of the net periodic benefit (credit) cost from continuing operations for the three months ended March 31, 2023 and 2022 were as follows (dollars in millions):

Huntsman Corporation

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months

   

Three months

 
   

ended

   

ended

 
   

March 31,

   

March 31,

 
   

2023

   

2022

   

2023

   

2022

 

Service cost

  $ 6     $ 11     $     $  

Interest cost

    23       13       1        

Expected return on assets

    (31 )     (38 )            

Amortization of prior service benefit

    (1 )     (1 )     (1 )     (1 )

Amortization of actuarial loss

    8       12             1  

Net periodic benefit cost (credit)

  $ 5     $ (3 )   $     $  

​ 

Huntsman International

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months

   

Three months

 
   

ended

   

ended

 
   

March 31,

   

March 31,

 
   

2023

   

2022

   

2023

   

2022

 

Service cost

  $ 6     $ 11     $     $  

Interest cost

    23       13       1        

Expected return on assets

    (31 )     (38 )            

Amortization of prior service benefit

    (1 )     (1 )     (1 )     (1 )

Amortization of actuarial loss

    8       12             1  

Net periodic benefit cost (credit)

  $ 5     $ (3 )   $     $  

​ 

During both of the three months ended March 31, 2023 and 2022, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $11 million. During the remainder of 2023, we expect to contribute an additional amount of approximately $28 million to these plans.

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