Quarterly report pursuant to Section 13 or 15(d)

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

v3.23.3
Note 19 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenues [1] $ 1,506     $ 2,011     $ 4,708 $ 6,373
Segment adjusted EBITDA [2] 177     306     556 1,191
Interest expense, net—continuing operations (15)     (16)     (48) (46)
Depreciation and amortization—continuing operations (69)     (72)     (208) (207)
Corporate and other costs, net(2) [3] (41)     (35)     (128) (123)
Net income attributable to noncontrolling interests 15     15     40 46
Business acquisition and integration expenses and purchase accounting inventory adjustments 0     (1)     (3) (11)
Fair value adjustments to Venator investment, net 0     (7)     (5) (9)
Certain legal and other settlements and related expenses (2)     (1)     (4) (15)
Costs associated with the Albemarle Settlement, net 0     (1)     0 (3)
Gain (loss) on sale of business/assets 0     (16)     1 (27)
Income from transition services arrangements 0     0     0 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 0     (1)     0 4
Restructuring, impairment and plant closing and transition costs(3) [4] (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 0     (1)     120 30
Net income 15 $ 31 $ 166 115 $ 242 $ 240 212 597
Huntsman International LLC [Member]                
Total revenues 1,506     2,011     4,708 6,373
Segment adjusted EBITDA [2] 177     306     556 1,191
Interest expense, net—continuing operations (15)     (16)     (48) (46)
Depreciation and amortization—continuing operations (69)     (72)     (208) (207)
Corporate and other costs, net(2) [3] (40)     (36)     (125) (119)
Net income attributable to noncontrolling interests 15     15     40 46
Business acquisition and integration expenses and purchase accounting inventory adjustments 0     (1)     (3) (11)
Fair value adjustments to Venator investment, net 0     (7)     (5) (9)
Certain legal and other settlements and related expenses (2)     (1)     (4) (15)
Costs associated with the Albemarle Settlement, net 0     (1)     0 (3)
Gain (loss) on sale of business/assets 0     (16)     1 (27)
Income from transition services arrangements 0     0     0 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 0     (1)     0 4
Restructuring, impairment and plant closing and transition costs(3) [4] (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 0     (1)     120 30
Net income 16 $ 31 $ 168 114 $ 243 $ 243 215 600
Operating Segments [Member]                
Total revenues 1,512     2,019 [2]     4,729 6,401
Consolidation, Eliminations [Member]                
Total revenues (6)     (8)     (21) (28)
Polyurethanes [Member] | Operating Segments [Member]                
Total revenues [1] 967 [2]     1,257     2,970 3,996
Segment adjusted EBITDA [2] 81     138     235 591
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]                
Segment adjusted EBITDA 81     138     235 591
Performance Products [Member] | Operating Segments [Member]                
Total revenues [1] 277     434     918 1,406
Segment adjusted EBITDA [2] 47     110     173 408
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]                
Segment adjusted EBITDA 47     110     173 408
Advanced Materials [Member] | Operating Segments [Member]                
Total revenues [1] 268     328     841 999
Segment adjusted EBITDA [2] 49     58     148 192
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]                
Segment adjusted EBITDA $ 49     $ 58     $ 148 $ 192 [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.