Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.2
Note 19 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Total revenues [1] $ 1,596   $ 2,170   $ 3,202 $ 4,362
Segment adjusted EBITDA [2] 194   448   379 885
Interest expense, net—continuing operations (15)   (16)   (33) (30)
Depreciation and amortization—continuing operations (70)   (68)   (139) (135)
Corporate and other costs, net(2) [3] (38)   (38)   (87) (88)
Net income attributable to noncontrolling interests 12   14   25 31
Business acquisition and integration expenses and purchase accounting inventory adjustments (2)   (4)   (3) (10)
Fair value adjustments to Venator investment, net (4)   0   (5) (2)
Certain legal and other settlements and related expenses (1)   (2)   (2) (14)
Costs associated with the Albemarle Settlement, net 0   (1)   0 (2)
Gain (loss) on sale of business/assets 1   (7)   1 (11)
Income from transition services arrangements 0   1   0 2
Certain nonrecurring information technology project implementation costs (1)   (1)   (3) (3)
Amortization of pension and postretirement actuarial losses (7)   (10)   (15) (22)
Plant incident remediation credits 0   5   0 5
Restructuring, impairment and plant closing and transition costs(3) [4] (8)   (27)   (2) (30)
Income from continuing operations before income taxes 61   294   116 576
Income tax expense—continuing operations (28)   (65)   (39) (125)
(Loss) income from discontinued operations, net of tax (2)   13   120 31
Net income 31 $ 166 242 $ 240 197 482
Huntsman International LLC [Member]            
Total revenues 1,596   2,170   3,202 4,362
Segment adjusted EBITDA [2] 194   448   379 885
Interest expense, net—continuing operations (15)   (16)   (33) (30)
Depreciation and amortization—continuing operations (70)   (68)   (139) (135)
Corporate and other costs, net(2) [3] (38)   (36)   (85) (83)
Net income attributable to noncontrolling interests 12   14   25 31
Business acquisition and integration expenses and purchase accounting inventory adjustments (2)   (4)   (3) (10)
Fair value adjustments to Venator investment, net (4)   0   (5) (2)
Certain legal and other settlements and related expenses (1)   (2)   (2) (14)
Costs associated with the Albemarle Settlement, net 0   (1)   0 (2)
Gain (loss) on sale of business/assets 1   (7)   1 (11)
Income from transition services arrangements 0   1   0 2
Certain nonrecurring information technology project implementation costs (1)   (1)   (3) (3)
Amortization of pension and postretirement actuarial losses (7)   (10)   (15) (22)
Plant incident remediation credits 0   5   0 5
Restructuring, impairment and plant closing and transition costs(3) [4] (8)   (27)   (2) (30)
Income from continuing operations before income taxes 61   296   118 581
Income tax expense—continuing operations (28)   (66)   (39) (126)
(Loss) income from discontinued operations, net of tax (2)   13   120 31
Net income 31 $ 168 243 $ 243 199 486
Operating Segments [Member]            
Total revenues 1,603   2,181 [2]   3,217 4,382
Consolidation, Eliminations [Member]            
Total revenues (7)   (11)   (15) (20)
Polyurethanes [Member] | Operating Segments [Member]            
Total revenues [1] 1,012 [2]   1,353   2,003 2,739
Segment adjusted EBITDA [2] 88   229   154 453
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA 88   229   154 453
Performance Products [Member] | Operating Segments [Member]            
Total revenues [1] 307   492   641 972
Segment adjusted EBITDA [2] 55   152   126 298
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA 55   152   126 298
Advanced Materials [Member] | Operating Segments [Member]            
Total revenues [1] 284   336   573 671
Segment adjusted EBITDA [2] 51   67   99 134
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]            
Segment adjusted EBITDA $ 51   $ 67   $ 99 $ 134 [2]
[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) gain (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) plant incident remediation credits (j) restructuring, impairment, plant closing and transition costs; and (k) (loss) income from discontinued operations, net of tax.
[3] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, 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.