Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant (Tables)

Schedule I - Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Balance Sheet [Table Text Block]

	*December 31,*
	*2023*			*2022*
ASSETS
Investment in and advances to affiliates	$	3,261		$	3,631
Total assets	$	3,261		$	3,631

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1		$	—
Accrued liabilities		5			2
Total current liabilities		6			2
Other noncurrent liabilities		4			5
Total liabilities		10			7
STOCKHOLDERS’ EQUITY
Common stock $0.01 par value, 1,200,000,000 shares authorized, 262,190,459 and 261,148,217 shares issued and 171,583,331 and 183,634,464 shares outstanding, respectively		3			3
Additional paid-in capital		4,202			4,156
Treasury stock, 90,607,128 and 77,513,753 shares, respectively		(2,290	)		(1,937	)
Unearned stock-based compensation		(41	)		(35	)
Retained earnings		2,622			2,705
Accumulated other comprehensive loss		(1,245	)		(1,268	)
Total stockholders’ equity		3,251			3,624
Total liabilities and stockholders’ equity	$	3,261		$	3,631

Condensed Income Statement [Table Text Block]

	*Year ended December 31,*
	*2023*			*2022*			*2021*
Selling, general and administrative expenses	$	(3	)	$	(4	)	$	(7	)
Equity in (loss) income of subsidiaries		(68	)		295			891
Dividend income—affiliate		172			169			158
Other income		—			—			3
Net income	$	101		$	460		$	1,045

Condensed Statement of Comprehensive Income [Table Text Block]

	*Year ended December 31,*
	*2023*			*2022*			*2021*
Net income	$	101		$	460		$	1,045
Other comprehensive income (loss), net of tax:
Foreign currency translations adjustments		34			(228	)		(92	)
Pension and other postretirement benefits adjustments		(4	)		158			240
Other, net		42			56			61
Other comprehensive income (loss), net of tax		72			(14	)		209
Comprehensive income		173			446			1,254
Comprehensive income attributable to noncontrolling interests		(49	)		(51	)		(66	)
Comprehensive income attributable to Huntsman Corporation	$	124		$	395		$	1,188

Condensed Statement of Stockholders' Equity [Table Text Block]

	*Huntsman Corporation Stockholders’ Equity*
																		*Accumulated*
	*Shares*					*Additional*						*Unearned*						*other*
	*Common*			*Common*		*paid-in*			*Treasury*			*stock-based*			*Retained*			*comprehensive*			*Total*
	*stock*			*stock*		*capital*			*stock*			*compensation*			*earnings*			*loss*			*equity*
Beginning balance, January 1, 2021		220,046,262		$	3	$	4,048		$	(731	)	$	(19	)	$	1,564		$	(1,346	)	$	3,519
Net income		—			—		—			—			—			1,045			—			1,045
Other comprehensive income		—			—		—			—			—			—			143			143
Issuance of nonvested stock awards		—			—		26			—			(26	)		—			—			—
Vesting of stock awards		678,400			—		5			—			—			—			—			5
Recognition of stock-based compensation		—			—		6			—			20			—			—			26
Repurchase and cancellation of stock awards		(238,339	)		—		—			—			—			(7	)		—			(7	)
Stock options exercised		738,362			—		17			—			—			(7	)		—			10
Treasury stock repurchased		(7,054,398	)		—		—			(203	)		—			—			—			(203	)
Dividends declared on common stock		—			—		—			—			—			(160	)		—			(160	)
Balance, December 31, 2021		214,170,287			3		4,102			(934	)		(25	)		2,435			(1,203	)		4,378
Net income		—			—		—			—			—			460			—			460
Other comprehensive loss		—			—		—			—			—			—			(65	)		(65	)
Issuance of nonvested stock awards		—			—		32			—			(32	)		—			—			—
Vesting of stock awards		1,341,787			—		7			—			—			—			—			7
Recognition of stock-based compensation		—			—		3			—			22			—			—			25
Repurchase and cancellation of stock awards		(366,199	)		—		—			—			—			(14	)		—			(14	)
Stock options exercised		470,853			—		12			—			—			(6	)		—			6
Treasury stock repurchased		(31,982,264	)		—		—			(1,003	)		—			—			—			(1,003	)
Dividends declared on common stock		—			—		—			—			—			(170	)		—			(170	)
Balance, December 31, 2022		183,634,464			3		4,156			(1,937	)		(35	)		2,705			(1,268	)		3,624
Net income		—			—		—			—			—			101			—			101
Other comprehensive income		—			—		—			—			—			—			23			23
Issuance of nonvested stock awards		—			—		32			—			(32	)		—			—			—
Vesting of stock awards		1,028,971			—		5			—			—			—			—			5
Recognition of stock-based compensation		—			—		1			—			26			—			—			27
Repurchase and cancellation of stock awards		(307,093	)		—		—			—			—			(10	)		—			(10	)
Stock options exercised		320,364			—		9			—			—			(4	)		—			5
Treasury stock repurchased		(13,093,375	)		—		—			(353	)		—			—			—			(353	)
Dividends declared on common stock		—			—		—			—			—			(170	)		—			(170	)
Acquisition of noncontrolling interests, net of tax		—			—		(1	)		—			—			—			—			(1	)
Balance, December 31, 2023		171,583,331		$	3	$	4,202		$	(2,290	)	$	(41	)	$	2,622		$	(1,245	)	$	3,251

Condensed Cash Flow Statement [Table Text Block]

	*Year ended December 31,*
	*2023*			*2022*			*2021*
Operating activities:
Net income	$	101		$	460		$	1,045
Equity in loss (income) of subsidiaries		68			(295	)		(891	)
Stock-based compensation		1			2			1
Changes in operating assets and liabilities		—			(2	)		(2	)
Net cash provided by operating activities		170			165			153

Investing activities:
Net cash provided by investing activities		—			—			—

Financing activities:
Dividends paid to common stockholders		(169	)		(171	)		(159	)
Repurchase and cancellation of stock awards		(10	)		(14	)		(7	)
Proceeds from issuance of common stock		5			6			10
Repurchase of common stock		(349	)		(1,005	)		(200	)
Increase in payable to affiliates		352			1,017			203
Other, net		1			—			—
Net cash used in financing activities		(170	)		(167	)		(153	)
Decrease in cash and cash equivalents		—			(2	)		—
Cash and cash equivalents at beginning of period		—			2			2
Cash and cash equivalents at end of period	$	—		$	—		$	2