Quarterly report pursuant to Section 13 or 15(d)

Note 20 - Operating Segment Information - Financial Information By Segment (Details)

v3.24.1.u1
Note 20 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Total revenues $ 1,470 [1] $ 1,606
Segment adjusted EBITDA [2] 124 185
Interest expense, net—continuing operations (19) (18)
Depreciation and amortization—continuing operations (69) (69)
Corporate and other costs, net(2) [3] (43) (49)
Net income attributable to noncontrolling interests 14 13
Business acquisition and integration expenses and purchase accounting inventory adjustments (20) (1)
Fair value adjustments to Venator investment, net 0 (1)
Certain legal and other settlements and related expenses (1) (1)
Certain nonrecurring information technology project implementation costs 0 (2)
Amortization of pension and postretirement actuarial losses (8) (8)
Restructuring, impairment and plant closing and transition (costs) credits(3) [4] (14) 6
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
Corporate and other costs, net(2) [3] 43 49
Fair value adjustments to Venator investment, net 0 (1)
Huntsman International LLC [Member]    
Total revenues 1,470 1,606
Interest expense, net—continuing operations (19) (18)
Depreciation and amortization—continuing operations (69) (69)
Corporate and other costs, net(2) [5] 41 47
Net income attributable to noncontrolling interests 14 13
Business acquisition and integration expenses and purchase accounting inventory adjustments (20) (1)
Fair value adjustments to Venator investment, net 0 (1)
Certain legal and other settlements and related expenses (1) (1)
Certain nonrecurring information technology project implementation costs 0 (2)
Amortization of pension and postretirement actuarial losses (8) (8)
Restructuring, impairment and plant closing and transition (costs) credits(3) [4] (14) 6
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
Corporate and other costs, net(2) [5] (41) (47)
Fair value adjustments to Venator investment, net 0 (1)
Operating Segments [Member]    
Total revenues 1,478 1,614
Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [6] 124 185
Consolidation, Eliminations [Member]    
Total revenues (8) (8)
Polyurethanes [Member] | Operating Segments [Member]    
Total revenues 926 [1] 991
Segment adjusted EBITDA [2] 39 66
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [6] 39 66
Performance Products [Member] | Operating Segments [Member]    
Total revenues 291 [1] 334
Segment adjusted EBITDA [2] 42 71
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [6] 42 71
Advanced Materials [Member] | Operating Segments [Member]    
Total revenues 261 [1] 289
Segment adjusted EBITDA [2] 43 48
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member]    
Segment adjusted EBITDA [6] $ 43 $ 48
[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) certain nonrecurring information technology project implementation costs; (e) amortization of pension and postretirement actuarial losses; (f) restructuring, impairment, plant closing and transition (costs) credits; and (g) (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.
[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.