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

Quarterly report pursuant to Section 13 or 15(d)

Note 19 - Operating Segment Information (Tables)

Note 19 - Operating Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

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

	*Three months*
	*ended*
	*March 31,*
	*2023*			*2022*
Revenues:
Polyurethanes	$	991		$	1,386
Performance Products		334			480
Advanced Materials		289			335
Total reportable segments’ revenues		1,614			2,201
Intersegment eliminations		(8	)		(9	)
Total	$	1,606		$	2,192

Huntsman Corporation:
Segment adjusted EBITDA(1):
Polyurethanes	$	66		$	224
Performance Products		71			146
Advanced Materials		48			67
Total reportable segments’ adjusted EBITDA		185			437

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations		(18	)		(14	)
Depreciation and amortization—continuing operations		(69	)		(67	)
Corporate and other costs, net(2)		(49	)		(50	)
Net income attributable to noncontrolling interests		13			17
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(1	)		(6	)
Fair value adjustments to Venator investment, net		(1	)		(2	)
Certain legal and other settlements and related expenses		(1	)		(12	)
Costs associated with the Albemarle Settlement, net		—			(1	)
Loss on sale of business/assets		—			(4	)
Income from transition services arrangements		—			1
Certain nonrecurring information technology project implementation costs		(2	)		(2	)
Amortization of pension and postretirement actuarial losses		(8	)		(12	)
Restructuring, impairment and plant closing and transition credits (costs)(3)		6			(3	)
Income from continuing operations before income taxes		55			282

Income tax expense—continuing operations		(11	)		(60	)
Income from discontinued operations, net of tax		122			18
Net income	$	166		$	240

	*Three months*
	*ended*
	*March 31,*
	*2023*			*2022*
Huntsman International:
Segment adjusted EBITDA(1):
Polyurethanes	$	66		$	224
Performance Products		71			146
Advanced Materials		48			67
Total reportable segments’ adjusted EBITDA		185			437

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations		(18	)		(14	)
Depreciation and amortization—continuing operations		(69	)		(67	)
Corporate and other costs, net(2)		(47	)		(47	)
Net income attributable to noncontrolling interests		13			17
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(1	)		(6	)
Fair value adjustments to Venator investment, net		(1	)		(2	)
Certain legal and other settlements and related expenses		(1	)		(12	)
Costs associated with the Albemarle Settlement, net		—			(1	)
Loss on sale of business/assets		—			(4	)
Income from transition services arrangements		—			1
Certain nonrecurring information technology project implementation costs		(2	)		(2	)
Amortization of pension and postretirement actuarial losses		(8	)		(12	)
Restructuring, impairment and plant closing and transition credits (costs)(3)		6			(3	)
Income from continuing operations before income taxes		57			285

Income tax expense—continuing operations		(11	)		(60	)
Income from discontinued operations, net of tax		122			18
Net income	$	168		$	243