Quarterly report pursuant to Section 13 or 15(d)

Note 19 - Operating Segment Information (Tables)

v3.23.3
Note 19 - Operating Segment Information (Tables)
9 Months Ended
Sep. 30, 2023
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   

Three months

   

Nine months

 
   

ended

   

ended

 
   

September 30,

   

September 30,

 
   

2023

   

2022

   

2023

   

2022

 

Revenues:

                               

Polyurethanes

  $ 967     $ 1,257     $ 2,970     $ 3,996  

Performance Products

    277       434       918       1,406  

Advanced Materials

    268       328       841       999  

Total reportable segments’ revenues

    1,512       2,019       4,729       6,401  

Intersegment eliminations

    (6 )     (8 )     (21 )     (28 )

Total

  $ 1,506     $ 2,011     $ 4,708     $ 6,373  
                                 

Huntsman Corporation:

                               

Segment adjusted EBITDA(1):

                               

Polyurethanes

  $ 81     $ 138     $ 235     $ 591  

Performance Products

    47       110       173       408  

Advanced Materials

    49       58       148       192  

Total reportable segments’ adjusted EBITDA

    177       306       556       1,191  
                                 

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:

                               

Interest expense, net—continuing operations

    (15 )     (16 )     (48 )     (46 )

Depreciation and amortization—continuing operations

    (69 )     (72 )     (208 )     (207 )

Corporate and other costs, net(2)

    (41 )     (35 )     (128 )     (123 )

Net income attributable to noncontrolling interests

    15       15       40       46  

Other adjustments:

                               

Business acquisition and integration expenses and purchase accounting inventory adjustments

          (1 )     (3 )     (11 )

Fair value adjustments to Venator investment, net

          (7 )     (5 )     (9 )

Certain legal and other settlements and related expenses

    (2 )     (1 )     (4 )     (15 )

Costs associated with the Albemarle Settlement, net

          (1 )           (3 )

Gain (loss) on sale of business/assets

          (16 )     1       (27 )

Income from transition services arrangements

                      2  

Certain nonrecurring information technology project implementation costs

    (2 )     (1 )     (5 )     (4 )

Amortization of pension and postretirement actuarial losses

    (10 )     (10 )     (25 )     (32 )

Plant incident remediation (costs) credits

          (1 )           4  

Restructuring, impairment and plant closing and transition costs(3)

    (11 )     (14 )     (13 )     (44 )

Income from continuing operations before income taxes

    42       146       158       722  
                                 

Income tax expense—continuing operations

    (27 )     (30 )     (66 )     (155 )

(Loss) income from discontinued operations, net of tax

          (1 )     120       30  

Net income

  $ 15     $ 115     $ 212     $ 597  
   

Three months

   

Nine months

 
   

ended

   

ended

 
   

September 30,

   

September 30,

 
   

2023

   

2022

   

2023

   

2022

 

Huntsman International:

                               

Segment adjusted EBITDA(1):

                               

Polyurethanes

  $ 81     $ 138     $ 235     $ 591  

Performance Products

    47       110       173       408  

Advanced Materials

    49       58       148       192  

Total reportable segments’ adjusted EBITDA

    177       306       556       1,191  
                                 

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:

                               

Interest expense, net—continuing operations

    (15 )     (16 )     (48 )     (46 )

Depreciation and amortization—continuing operations

    (69 )     (72 )     (208 )     (207 )

Corporate and other costs, net(2)

    (40 )     (36 )     (125 )     (119 )

Net income attributable to noncontrolling interests

    15       15       40       46  

Other adjustments:

                               

Business acquisition and integration expenses and purchase accounting inventory adjustments

          (1 )     (3 )     (11 )

Fair value adjustments to Venator investment, net

          (7 )     (5 )     (9 )

Certain legal and other settlements and related expenses

    (2 )     (1 )     (4 )     (15 )

Costs associated with the Albemarle Settlement, net

          (1 )           (3 )

Gain (loss) on sale of business/assets

          (16 )     1       (27 )

Income from transition services arrangements

                      2  

Certain nonrecurring information technology project implementation costs

    (2 )     (1 )     (5 )     (4 )

Amortization of pension and postretirement actuarial losses

    (10 )     (10 )     (25 )     (32 )

Plant incident remediation (costs) credits

          (1 )           4  

Restructuring, impairment and plant closing and transition costs(3)

    (11 )     (14 )     (13 )     (44 )

Income from continuing operations before income taxes

    43       145       161       726  
                                 

Income tax expense—continuing operations

    (27 )     (30 )     (66 )     (156 )

(Loss) income from discontinued operations, net of tax

          (1 )     120       30  

Net income

  $ 16     $ 114     $ 215     $ 600