Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.23.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents [1],[2] $ 502 $ 654
Accounts and notes receivable [2] 856 813
Inventories [2] 1,012 995
Other current assets 145 190
Current assets held for sale 0 472
Total current assets 2,520 3,145
Property, plant and equipment, net [2] 2,354 2,377
Investment in unconsolidated affiliates 425 425
Intangible assets, net 406 425
Goodwill 643 641
Deferred income taxes 128 147
Operating lease right-of-use assets 365 374
Other noncurrent assets [2] 712 686
Total assets 7,553 8,220
Current liabilities:    
Accrued liabilities [2] 374 429
Current portion of debt [2] 11 66
Current operating lease liabilities [2] 46 51
Current liabilities held for sale 0 194
Total current liabilities 1,176 1,701
Long-term debt [2] 1,562 1,671
Deferred income taxes 243 250
Noncurrent operating lease liabilities [2] 333 336
Other noncurrent liabilities [2] 393 422
Total liabilities 3,707 4,380
Commitments and contingencies (Notes 14 and 15)
Common stock $0.01 par value, 1,200,000,000 shares authorized, 261,886,116 and 261,148,217 shares issued and 177,110,274 and 183,634,464 shares outstanding, respectively 3 3
Additional paid-in capital 4,195 4,156
Treasury stock, 84,775,842 and 77,513,753 shares, respectively (2,136) (1,937)
Unearned stock-based compensation (53) (35)
Retained earnings 2,781 2,705
Accumulated other comprehensive loss (1,175) (1,268)
Total Huntsman Corporation stockholders’ equity 3,615 3,624
Noncontrolling interests in subsidiaries 231 216
Total equity 3,846 3,840
Total liabilities and equity 7,553 8,220
Nonrelated Party [Member]    
Current assets:    
Accounts receivable from affiliates 5 21
Current liabilities:    
Accounts payable [2] 716 907
Related Party [Member]    
Current liabilities:    
Accounts payable 29 54
Huntsman International LLC [Member]    
Current assets:    
Cash and cash equivalents [2] 502 654
Accounts and notes receivable [2] 856 813
Inventories [2] 1,012 995
Other current assets 145 196
Current assets held for sale 0 472
Total current assets 2,520 3,151
Property, plant and equipment, net [2] 2,354 2,377
Investment in unconsolidated affiliates 425 425
Intangible assets, net 406 425
Goodwill 643 641
Deferred income taxes 128 147
Operating lease right-of-use assets 365 374
Other noncurrent assets [2] 712 686
Total assets 7,553 8,226
Current liabilities:    
Accrued liabilities [2] 367 427
Current portion of debt [2] 11 66
Current operating lease liabilities [2] 46 51
Current liabilities held for sale 0 194
Total current liabilities 1,164 1,699
Long-term debt [2] 1,562 1,671
Deferred income taxes 247 254
Noncurrent operating lease liabilities [2] 333 336
Other noncurrent liabilities [2] 391 414
Total liabilities 3,697 4,374
Commitments and contingencies (Notes 14 and 15)
Retained earnings 1,012 1,130
Accumulated other comprehensive loss (1,160) (1,253)
Total equity 3,856 3,852
Total liabilities and equity 7,553 8,226
Members’ equity, 2,728 units issued and outstanding 3,773 3,759
Total Huntsman International LLC members’ equity 3,625 3,636
Noncontrolling interests in subsidiaries 231 216
Huntsman International LLC [Member] | Nonrelated Party [Member]    
Current liabilities:    
Accounts payable [2] 711 907
Huntsman International LLC [Member] | Related Party [Member]    
Current assets:    
Accounts receivable from affiliates 5 21
Current liabilities:    
Accounts payable $ 29 $ 54
[1] At June 30, 2023 and December 31, 2022, respectively, $27 and $5 of cash and cash equivalents, $7 and $4 of accounts and notes receivable (net), $57 and $59 of inventories, $150 and $149 of property, plant and equipment (net), $30 and $29 of other noncurrent assets, $85 and $114 of accounts payable, $15 and $12 of accrued liabilities, $10 and $9 of current portion of debt, $9 each of current operating lease liabilities, $21 and $26 of long-term debt, $16 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.
[2] At June 30, 2023 and December 31, 2022, respectively, $27 and $5 of cash and cash equivalents, $7 and $4 of accounts and notes receivable (net), $57 and $59 of inventories, $150 and $149 of property, plant and equipment (net), $30 and $29 of other noncurrent assets, $85 and $114 of accounts payable, $15 and $12 of accrued liabilities, $10 and $9 of current portion of debt, $9 each of current operating lease liabilities, $21 and $26 of long-term debt, $16 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.