Annual report pursuant to Section 13 and 15(d)

Note 7 - Investment in Unconsolidated Affiliates

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Note 7 - Investment in Unconsolidated Affiliates
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Investment in Unconsolidated Affiliates Disclosure [Text Block]

7. INVESTMENT IN UNCONSOLIDATED AFFILIATES

 

Our ownership percentage and investment in unconsolidated affiliates were as follows (dollars in millions):

 

   

December 31,

 
   

2023

   

2022

 

Equity Method:

               

BASF Huntsman Shanghai Isocyanate Investment BV (50%)

  $ 98     $ 103  

Nanjing Jinling Huntsman New Material Co., Ltd. (49%)

    304       282  

Jurong Ningwu New Material Development Co., Ltd. (30%)

    33       37  

KPX Huntsman Polyurethanes Automotive Co., Ltd. (50%)

    3       3  

Total investments

  $ 438     $ 425  

 

All of our equity method investments are held by our Polyurethanes segment.

 

Summarized Financial Information of Unconsolidated Affiliates

 

Summarized financial information of our unconsolidated affiliates as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 is as follows (dollars in millions):

 

   

December 31,

 
   

2023

   

2022

 

Current assets

  $ 419     $ 454  

Non-current assets

    804       870  

Current liabilities

    188       237  

Non-current liabilities

    48       126  

 

   

Year ended December 31,

 
   

2023

   

2022

   

2021

 

Revenues

  $ 2,299     $ 2,410     $ 2,588  

Gross profit

    285       243       470  

Income from continuing operations

    180       148       305  

Net income

    180       148       305