Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.23.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues [1] $ 1,596 $ 2,170 $ 3,202 $ 4,362
Cost of goods sold 1,342 1,678 2,679 3,355
Gross profit 254 492 523 1,007
Operating expenses:        
Selling, general and administrative 167 177 355 367
Research and development 29 32 59 66
Restructuring, impairment and plant closing costs 8 24 1 24
Other operating income, net 0 (19) (3) (11)
Total operating expenses 204 214 412 446
Operating income 50 278 111 561
Interest expense, net (15) (16) (33) (30)
Equity in income of investment in unconsolidated affiliates 28 19 40 34
Other (expense) income, net (2) 13 (2) 11
Income from continuing operations before income taxes 61 294 116 576
Income tax expense (28) (65) (39) (125)
Income from continuing operations 33 229 77 451
(Loss) income from discontinued operations, net of tax (2) 13 120 31
Net income 31 242 197 482
Net income attributable to noncontrolling interests (12) (14) (25) (31)
Net income attributable to Huntsman Corporation $ 19 $ 228 $ 172 $ 451
Basic income per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.12 $ 1.05 $ 0.29 $ 2.01
(Loss) income from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) (0.01) 0.06 0.66 0.15
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.11 $ 1.11 $ 0.95 $ 2.16
Weighted average shares (in shares) 179.2 205.2 180.9 209.0
Diluted income per share:        
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.12 $ 1.04 $ 0.28 $ 1.99
(Loss) income from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) (0.01) 0.06 0.66 0.15
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) $ 0.11 $ 1.10 $ 0.94 $ 2.14
Weighted average shares (in shares) 180.3 207.0 182.3 211.2
Amounts attributable to Huntsman Corporation:        
Income from continuing operations $ 21 $ 215 $ 52 $ 420
(Loss) income from discontinued operations, net of tax (2) 13 120 31
Net income 19 228 172 451
Total revenues [1] 1,596 2,170 3,202 4,362
Cost of goods sold 1,342 1,678 2,679 3,355
Gross profit 254 492 523 1,007
Huntsman International LLC [Member]        
Revenues:        
Total revenues 1,596 2,170 3,202 4,362
Cost of goods sold 1,342 1,678 2,679 3,355
Gross profit 254 492 523 1,007
Operating expenses:        
Selling, general and administrative 167 175 353 362
Research and development 29 32 59 66
Restructuring, impairment and plant closing costs 8 24 1 24
Other operating income, net 0 (19) (3) (11)
Total operating expenses 204 212 410 441
Operating income 50 280 113 566
Interest expense, net (15) (16) (33) (30)
Equity in income of investment in unconsolidated affiliates 28 19 40 34
Other (expense) income, net (2) 13 (2) 11
Income from continuing operations before income taxes 61 296 118 581
Income tax expense (28) (66) (39) (126)
Income from continuing operations 33 230 79 455
(Loss) income from discontinued operations, net of tax (2) 13 120 31
Net income 31 243 199 486
Net income attributable to noncontrolling interests (12) (14) (25) (31)
Net income attributable to Huntsman Corporation 19 229 174 455
Amounts attributable to Huntsman Corporation:        
Total revenues 1,596 2,170 3,202 4,362
Cost of goods sold 1,342 1,678 2,679 3,355
Gross profit 254 492 523 1,007
Third Party Customers [Member]        
Revenues:        
Total revenues 1,561 2,111 3,134 4,243
Amounts attributable to Huntsman Corporation:        
Total revenues 1,561 2,111 3,134 4,243
Third Party Customers [Member] | Huntsman International LLC [Member]        
Revenues:        
Total revenues 1,561 2,111 3,134 4,243
Amounts attributable to Huntsman Corporation:        
Total revenues 1,561 2,111 3,134 4,243
Related Party Customers [Member]        
Revenues:        
Total revenues 35 59 68 119
Amounts attributable to Huntsman Corporation:        
Total revenues 35 59 68 119
Related Party Customers [Member] | Huntsman International LLC [Member]        
Revenues:        
Total revenues 35 59 68 119
Amounts attributable to Huntsman Corporation:        
Total revenues $ 35 $ 59 $ 68 $ 119
[1] Geographic information for revenues is based upon countries into which product is sold.