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, 2024
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,

 
   

2024

   

2023

 

Equity method:

               

BASF Huntsman Shanghai Isocyanate Investment BV (50%)

  $ 31     $ 98  

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

    282       304  

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

    30       33  

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

    3       3  

Total investments

  $ 346     $ 438  

 

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, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022 were as follows (dollars in millions):

 

   

December 31,

 
   

2024

   

2023

 

Current assets

  $ 368     $ 419  

Non-current assets

    512       804  

Current liabilities

    74       188  

Non-current liabilities

    12       48  

 

   

Year ended December 31,

 
   

2024

   

2023

   

2022

 

Revenues

  $ 1,324     $ 2,299     $ 2,410  

Gross profit

    142       285       243  

Income from continuing operations

    147       180       148  

Net income

    147       180       148