Annual report pursuant to Section 13 and 15(d)

Note 26 - Operating Segment Information - Financial Information By Segment (Details)

v3.24.0.1
Note 26 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues [1] $ 6,111 $ 8,023 $ 7,670
Segment adjusted EBITDA [2] 635 1,330 1,442
Interest expense, net—continuing operations (65) (62) (67)
Depreciation and amortization—continuing operations (278) (281) (278)
Corporate and other costs, net(2) [3] (163) (175) (196)
Net income attributable to noncontrolling interests 52 63 59
Business acquisition and integration expenses and purchase accounting inventory adjustments (4) (12) (22)
Fair value adjustments to Venator investment, net (5) (12) (28)
Gain (Loss) on Extinguishment of Debt, Total 0 0 (27)
Certain legal and other settlements and related expenses (6) (7) (13)
(Costs) income associated with the Albemarle Settlement, net 0 (3) 465
Gain on sale of businesses/assets 0 0 30
Income from transition services arrangements 0 2 8
Certain nonrecurring information technology project implementation costs (5) (5) (8)
Amortization of pension and postretirement actuarial losses (37) (49) (74)
Plant incident remediation credits 0 4 0
Restructuring, impairment and plant closing and transition costs(3) [4] (25) (96) (45)
Income from continuing operations before income taxes 99 697 1,246
Income tax expense—continuing operations (64) (186) (191)
Income from discontinued operations, net of tax 118 12 49
Net income 153 523 1,104
Depreciation and amortization - continuing operations 278 281 278
Capital expenditures 230 272 326
Total assets 7,248 7,748  
Goodwill 644 641  
Corporate and other costs, net(2) [3] 163 175 196
Fair value adjustments to Venator investment, net (5) (12) (28)
Loss on early extinguishment of debt 0 0 (27)
Gain on sale of businesses/assets 0 0 30
Plant incident remediation credits 0 (4) 0
Huntsman International LLC [Member]      
Revenues 6,111 8,023 7,670
Interest expense, net—continuing operations (65) (62) (67)
Depreciation and amortization—continuing operations (278) (281) (278)
Corporate and other costs, net(2) [5] 160 172 190
Net income attributable to noncontrolling interests 52 63 59
Business acquisition and integration expenses and purchase accounting inventory adjustments (4) (12) (22)
Fair value adjustments to Venator investment, net (5) (12) (28)
Gain (Loss) on Extinguishment of Debt, Total 0 0 (27)
Certain legal and other settlements and related expenses (6) (7) (13)
(Costs) income associated with the Albemarle Settlement, net 0 (3) 465
Gain on sale of businesses/assets 0 0 30
Income from transition services arrangements 0 2 8
Certain nonrecurring information technology project implementation costs (5) (5) (8)
Amortization of pension and postretirement actuarial losses (37) (49) (76)
Plant incident remediation credits (0) (4) (0)
Income from continuing operations before income taxes 102 700 1,250
Income tax expense—continuing operations (65) (188) (192)
Income from discontinued operations, net of tax 118 12 49
Net income 155 524 1,107
Depreciation and amortization - continuing operations 278 281 278
Capital expenditures 230 272 326
Total assets 7,253 7,754  
Goodwill 644 641  
Corporate and other costs, net(2) [5] (160) (172) (190)
Fair value adjustments to Venator investment, net (5) (12) (28)
Loss on early extinguishment of debt 0 0 (27)
Gain on sale of businesses/assets 0 0 30
Plant incident remediation credits 0 4 0
Restructuring, impairment and plant closing and transition costs(3) (25) (96) (45)
Operating Segments [Member]      
Revenues 6,135 8,057 7,702
Depreciation and amortization—continuing operations (266) (265) (265)
Depreciation and amortization - continuing operations 266 265 265
Capital expenditures 223 260 310
Total assets 6,574 6,687  
Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 635 1,330 1,442
Depreciation and amortization—continuing operations (266) (265) (265)
Depreciation and amortization - continuing operations 266 265 265
Capital expenditures 223 260 310
Total assets 6,574 6,687  
Consolidation, Eliminations [Member]      
Revenues (24) (34) (32)
Corporate and Reconciling Items [Member]      
Revenues [1] (24) (34) (32)
Depreciation and amortization—continuing operations (12) (16) (13)
Depreciation and amortization - continuing operations 12 16 13
Capital expenditures 7 12 16
Total assets 674 1,061  
Corporate and Reconciling Items [Member] | Huntsman International LLC [Member]      
Depreciation and amortization—continuing operations (12) (16) (13)
Depreciation and amortization - continuing operations 12 16 13
Capital expenditures 7 12 16
Total assets 679 1,067  
Polyurethanes [Member] | Operating Segments [Member]      
Revenues [1] 3,865 5,067 5,019
Segment adjusted EBITDA [2] 248 628 879
Depreciation and amortization—continuing operations (141) (136) (131)
Depreciation and amortization - continuing operations 141 136 131
Capital expenditures 98 142 243
Total assets 4,261 4,286  
Goodwill 338 336  
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 248 628 879
Depreciation and amortization—continuing operations (141) (136) (131)
Depreciation and amortization - continuing operations 141 136 131
Capital expenditures 98 142 243
Total assets 4,261 4,286  
Goodwill 338 336  
Performance Products [Member] | Operating Segments [Member]      
Revenues [1] 1,178 1,713 1,485
Segment adjusted EBITDA [2] 201 469 359
Depreciation and amortization—continuing operations (72) (72) (74)
Depreciation and amortization - continuing operations 72 72 74
Capital expenditures 100 92 42
Total assets 1,170 1,155  
Goodwill 16 15  
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 201 469 359
Depreciation and amortization—continuing operations (72) (72) (74)
Depreciation and amortization - continuing operations 72 72 74
Capital expenditures 100 92 42
Total assets 1,170 1,155  
Goodwill 16 15  
Advanced Materials [Member] | Operating Segments [Member]      
Revenues [1] 1,092 1,277 1,198
Segment adjusted EBITDA [2] 186 233 204
Depreciation and amortization—continuing operations (53) (57) (60)
Depreciation and amortization - continuing operations 53 57 60
Capital expenditures 25 26 25
Total assets 1,143 1,246  
Goodwill 290 290  
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]      
Segment adjusted EBITDA [6] 186 233 204
Depreciation and amortization—continuing operations (53) (57) (60)
Depreciation and amortization - continuing operations 53 57 60
Capital expenditures 25 26 $ 25
Total assets 1,143 1,246  
Goodwill $ 290 $ 290  
[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, certain Corporate and other items and income from discontinued operations, 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) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) costs associated with the Albemarle Settlement, net; (f) (loss) gain on sale of business/assets; (g) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (h) certain nonrecurring information technology project implementation costs; (i) amortization of pension and postretirement actuarial losses; (j) plant incident remediation credits (costs); and (k) restructuring, impairment, plant closing and transition costs.
[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.
[5] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[6] 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 and related loss on disposal; (c) loss on early extinguishment of debt; (d) certain legal and other settlements and related expenses; (e) income (expenses) associated with the Albemarle Settlement, net; (f) gain (loss) on sale of businesses/assets; (g) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (h) certain nonrecurring information technology project implementation costs; (i) amortization of pension and postretirement actuarial losses; (j) plant incident remediation costs; (k) restructuring, impairment, plant closing and transition (costs) credits; and (l) (loss) income from discontinued operations, net of tax.