Quarterly report pursuant to Section 13 or 15(d)

Note 19 - Operating Segment Information - Financial Information By Segment (Details)

v3.23.1
Note 19 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Total revenues [1] $ 1,606 $ 2,192
Segment adjusted EBITDA [2] 185 437
Interest expense, net—continuing operations (18) (14)
Depreciation and amortization—continuing operations (69) (67)
Corporate and other costs, net(2) [3] (49) (50)
Net income attributable to noncontrolling interests 13 17
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 0 (1)
Loss on sale of business/assets 0 (4)
Income from transition services arrangements 0 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) [4] 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
Fair value adjustments to Venator investment, net (1) (2)
Costs associated with the Albemarle Settlement, net 0 1
Restructuring, impairment and plant closing and transition credits (costs)(3) [4] (6) 3
Huntsman International LLC [Member]    
Total revenues 1,606 2,192
Segment adjusted EBITDA [2] 185 437
Interest expense, net—continuing operations (18) (14)
Depreciation and amortization—continuing operations (69) (67)
Corporate and other costs, net(2) [3] (47) (47)
Net income attributable to noncontrolling interests 13 17
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 (0) 1
Loss on sale of business/assets 0 (4)
Income from transition services arrangements 0 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) [4] (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
Fair value adjustments to Venator investment, net (1) (2)
Costs associated with the Albemarle Settlement, net 0 (1)
Restructuring, impairment and plant closing and transition credits (costs)(3) [4] 6 (3)
Operating Segments [Member]    
Total revenues 1,614 2,201
Consolidation, Eliminations [Member]    
Total revenues (8) (9)
Polyurethanes [Member] | Operating Segments [Member]    
Total revenues [1] 991 1,386
Segment adjusted EBITDA [2] 66 224
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [2] 66 224
Performance Products [Member] | Operating Segments [Member]    
Total revenues [1] 334 480
Segment adjusted EBITDA [2] 71 146
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [2] 71 146
Advanced Materials [Member] | Operating Segments [Member]    
Total revenues [1] 289 335
Segment adjusted EBITDA [2] 48 67
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [2] $ 48 $ 67
[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 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, net; (c) certain legal and other settlements and related expenses; (d) costs associated with the Albemarle Settlement, net; (e) loss on sale of business/assets; (f) income from transition services arrangements; (g) certain nonrecurring information technology project implementation costs; (h) amortization of pension and postretirement actuarial losses; (i) restructuring, impairment, plant closing and transition credits (costs); and (j) income from discontinued operations, net of tax.
[3] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign currency exchange gains and losses, LIFO inventory valuation reserve adjustments, 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.