Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net income $ 212 $ 597
Less: Income from discontinued operations, net of tax (120) (30)
Income from continuing operations (92) (567)
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (70) (55)
Cash received from return on investment in unconsolidated subsidiary 30 61
Depreciation and amortization 208 207
Noncash lease expense 51 47
Deferred income taxes 8 81
Noncash stock-based compensation 22 26
Other, net 27 (7)
Changes in operating assets and liabilities:    
Accounts and notes receivable 17 (60)
Inventories 33 (128)
Other current assets 46 357
Other noncurrent assets (34) (14)
Accounts payable (209) (113)
Accrued liabilities (60) (292)
Other noncurrent liabilities (76) (82)
Net cash provided by operating activities from continuing operations 85 595
Net cash (used in) provided by operating activities from discontinued operations (40) 9
Net cash provided by operating activities 45 604
Investing Activities:    
Capital expenditures (147) (186)
Cash received from sale of businesses, net 544 0
Insurance proceeds for recovery of property damage 0 5
Other, net (2) 5
Net cash provided by (used in) investing activities from continuing operations 395 (176)
Net cash used in investing activities from discontinued operations (4) (12)
Net cash provided by (used in) investing activities 391 (188)
Financing Activities:    
Net repayments on revolving loan facilities (115) 0
Repayments of long-term debt (9) (8)
Dividends paid to common stockholders (129) (132)
Distributions paid to noncontrolling interests (24) 0
Repurchase and cancellation of awards (9) (14)
Repurchase of common stock (296) (755)
Proceeds from issuance of common stock 4 6
Other, net (3) (2)
Net cash used in financing activities (581) (905)
Effect of exchange rate changes on cash (13) (37)
Decrease in cash and cash equivalents (158) (526)
Cash and cash equivalents at beginning of period 654 1,041
Cash and cash equivalents at end of period 496 515
Supplemental cash flow information:    
Cash paid for interest 43 41
Cash paid for income taxes 82 171
Huntsman International LLC [Member]    
Operating Activities:    
Net income 215 600
Less: Income from discontinued operations, net of tax (120) (30)
Income from continuing operations (95) (570)
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:    
Equity in income of investment in unconsolidated affiliates (70) (55)
Cash received from return on investment in unconsolidated subsidiary 30 61
Depreciation and amortization 208 207
Noncash lease expense 51 47
Deferred income taxes 8 81
Noncash stock-based compensation 21 24
Other, net 25 (7)
Changes in operating assets and liabilities:    
Accounts and notes receivable 17 (60)
Inventories 33 (128)
Other current assets 52 356
Other noncurrent assets (34) (14)
Accounts payable (208) (113)
Accrued liabilities (65) (290)
Other noncurrent liabilities (76) (82)
Net cash provided by operating activities from continuing operations 87 597
Net cash (used in) provided by operating activities from discontinued operations (40) 9
Net cash provided by operating activities 47 606
Investing Activities:    
Capital expenditures (147) (186)
Cash received from sale of businesses, net 544 0
Insurance proceeds for recovery of property damage 0 5
Other, net (2) 5
Net cash provided by (used in) investing activities from continuing operations 94 (942)
Net cash used in investing activities from discontinued operations (4) (12)
Net cash provided by (used in) investing activities 90 (954)
Increase in receivable from affiliate (301) (766)
Financing Activities:    
Net repayments on revolving loan facilities (115) 0
Repayments of long-term debt (9) (8)
Distributions paid to noncontrolling interests (24) 0
Other, net (3) (2)
Net cash used in financing activities (282) (139)
Effect of exchange rate changes on cash (13) (37)
Decrease in cash and cash equivalents (158) (524)
Cash and cash equivalents at beginning of period 654 1,039
Cash and cash equivalents at end of period 496 515
Dividends paid to parent (131) (129)
Supplemental cash flow information:    
Cash paid for interest 43 41
Cash paid for income taxes $ 82 $ 171