Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Note 20 - Operating Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

	*Three months*
	*ended*
	*March 31,*
	*2024*			*2023*
Revenues:
Polyurethanes	$	926		$	991
Performance Products		291			334
Advanced Materials		261			289
Total reportable segments’ revenues		1,478			1,614
Intersegment eliminations		(8	)		(8	)
Total	$	1,470		$	1,606

Huntsman Corporation:
Segment adjusted EBITDA⁽¹⁾:
Polyurethanes	$	39		$	66
Performance Products		42			71
Advanced Materials		43			48
Total reportable segments’ adjusted EBITDA		124			185

Reconciliation of total reportable segments’ adjusted EBITDA to (loss) income from continuing operations before income taxes:
Interest expense, net—continuing operations		(19	)		(18	)
Depreciation and amortization—continuing operations		(69	)		(69	)
Corporate and other costs, net⁽²⁾		(43	)		(49	)
Net income attributable to noncontrolling interests		14			13
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(20	)		(1	)
Fair value adjustments to Venator investment, net		—			(1	)
Certain legal and other settlements and related expenses		(1	)		(1	)
Certain nonrecurring information technology project implementation costs		—			(2	)
Amortization of pension and postretirement actuarial losses		(8	)		(8	)
Restructuring, impairment and plant closing and transition (costs) credits⁽³⁾		(14	)		6
(Loss) income from continuing operations before income taxes		(36	)		55

Income tax benefit (expense)—continuing operations		20			(11	)
(Loss) income from discontinued operations, net of tax		(7	)		122
Net (loss) income	$	(23	)	$	166

	Three months
	ended
	March 31,
	2024			2023
Huntsman International:
Segment adjusted EBITDA⁽¹⁾:
Polyurethanes	$	39		$	66
Performance Products		42			71
Advanced Materials		43			48
Total reportable segments’ adjusted EBITDA		124			185

Reconciliation of total reportable segments’ adjusted EBITDA to (loss) income from continuing operations before income taxes:
Interest expense, net—continuing operations		(19	)		(18	)
Depreciation and amortization—continuing operations		(69	)		(69	)
Corporate and other costs, net⁽²⁾		(41	)		(47	)
Net income attributable to noncontrolling interests		14			13
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments		(20	)		(1	)
Fair value adjustments to Venator investment, net		—			(1	)
Certain legal and other settlements and related expenses		(1	)		(1	)
Certain nonrecurring information technology project implementation costs		—			(2	)
Amortization of pension and postretirement actuarial losses		(8	)		(8	)
Restructuring, impairment and plant closing and transition (costs) credits⁽³⁾		(14	)		6
(Loss) income from continuing operations before income taxes		(34	)		57

Income tax benefit (expense)—continuing operations		20			(11	)
(Loss) income from discontinued operations, net of tax		(7	)		122
Net (loss) income	$	(21	)	$	168