| Comprehensive Income (Loss) Note [Text Block] |
24. ACCUMULATED OTHER COMPREHENSIVE LOSS
The components of other comprehensive income (loss) and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):
Huntsman Corporation
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Pension and |
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Foreign |
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other |
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Amounts |
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Amounts |
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currency |
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postretirement |
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attributable to |
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attributable to |
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translation |
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benefits |
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noncontrolling |
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Huntsman |
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adjustment(1) |
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adjustments(2) |
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Other, net |
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Total |
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interests |
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|
Corporation |
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| Beginning balance, January 1, 2024 |
|
$ |
(614 |
) |
|
$ |
(656 |
) |
|
$ |
(3 |
) |
|
$ |
(1,273 |
) |
|
$ |
28 |
|
|
$ |
(1,245 |
) |
| Other comprehensive (loss) income before reclassifications, gross |
|
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(66 |
) |
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|
80 |
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|
3 |
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|
17 |
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(1 |
) |
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16 |
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| Tax impact |
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(4 |
) |
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(4 |
) |
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|
— |
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(8 |
) |
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|
— |
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|
(8 |
) |
| Amounts reclassified from accumulated other comprehensive loss, gross(3) |
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|
9 |
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|
30 |
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|
|
— |
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|
39 |
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|
|
— |
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|
|
39 |
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| Tax impact |
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|
— |
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|
|
(2 |
) |
|
|
— |
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|
|
(2 |
) |
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|
— |
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|
|
(2 |
) |
| Net current-period other comprehensive (loss) income |
|
|
(61 |
) |
|
|
104 |
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|
|
3 |
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|
|
46 |
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|
|
(1 |
) |
|
|
45 |
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| Ending balance, December 31, 2024 |
|
$ |
(675 |
) |
|
$ |
(552 |
) |
|
$ |
— |
|
|
$ |
(1,227 |
) |
|
$ |
27 |
|
|
$ |
(1,200 |
) |
| (1) |
Amounts are net of tax of $60 million and $56 million as of December 31, 2024 and January 1, 2024, respectively. |
| (2) |
Amounts are net of tax of $61 million and $67 million as of December 31, 2024 and January 1, 2024, respectively. |
| (3) |
See table below for details about these reclassifications. |
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Pension and |
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Foreign |
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other |
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Amounts |
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Amounts |
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currency |
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postretirement |
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attributable to |
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attributable to |
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translation |
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benefits |
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noncontrolling |
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|
Huntsman |
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|
adjustment(1) |
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adjustments(2) |
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Other, net |
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Total |
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|
interests |
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|
Corporation |
|
| Beginning balance, January 1, 2023 |
|
$ |
(648 |
) |
|
$ |
(652 |
) |
|
$ |
7 |
|
|
$ |
(1,293 |
) |
|
$ |
25 |
|
|
$ |
(1,268 |
) |
| Other comprehensive income (loss) before reclassifications, gross |
|
|
7 |
|
|
|
(136 |
) |
|
|
(10 |
) |
|
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(139 |
) |
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|
3 |
|
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|
(136 |
) |
| Tax impact |
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|
— |
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|
13 |
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— |
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|
13 |
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|
— |
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|
13 |
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| Amounts reclassified from accumulated other comprehensive loss, gross(3) |
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28 |
|
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|
96 |
|
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|
— |
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|
124 |
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|
|
— |
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|
|
124 |
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| Tax impact |
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(1 |
) |
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23 |
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— |
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|
22 |
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|
— |
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|
22 |
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| Net current-period other comprehensive income (loss) |
|
|
34 |
|
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|
(4 |
) |
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|
(10 |
) |
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|
20 |
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|
3 |
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|
|
23 |
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| Ending balance, December 31, 2023 |
|
$ |
(614 |
) |
|
$ |
(656 |
) |
|
$ |
(3 |
) |
|
$ |
(1,273 |
) |
|
$ |
28 |
|
|
$ |
(1,245 |
) |
| (1) |
Amounts are net of tax of $56 million and $55 million as of December 31, 2023 and January 1, 2023, respectively. |
| (2) |
Amounts are net of tax of $67 million and $31 million as of December 31, 2023 and January 1, 2023, respectively. |
| (3) |
See table below for details about these reclassifications. |
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Amounts reclassified |
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from accumulated other |
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Affected line item in |
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comprehensive loss |
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the statement |
| Details about accumulated other |
|
Year ended December 31, |
|
|
where net income |
| comprehensive loss components(1)(2): |
|
2024 |
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2023 |
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|
2022 |
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is presented |
| Amortization of pension and other postretirement benefits: |
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| Actuarial loss |
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$ |
33 |
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|
$ |
34 |
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|
$ |
57 |
|
(3)(4) |
Other income, net |
| Prior service credit |
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|
(9 |
) |
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|
(10 |
) |
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(11 |
) |
(3)(4) |
Other income, net |
| Settlement loss |
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|
6 |
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|
73 |
|
|
|
5 |
|
(5) |
Other income, net |
| Curtailment gain |
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|
— |
|
|
|
(1 |
) |
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|
— |
|
(5) |
Other income, net |
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|
30 |
|
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|
96 |
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|
51 |
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Total before tax |
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(2 |
) |
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|
23 |
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|
(12 |
) |
|
Income tax expense |
| Total reclassifications for the period |
|
$ |
28 |
|
|
$ |
119 |
|
|
$ |
39 |
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Net of tax |
| (1) |
Details of amounts reclassified from accumulated other comprehensive loss relate only to pension and other postretirement benefits. |
| (2) |
Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. |
| (3) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 18. Employee Benefit Plans.” |
| (4) |
Amounts contain approximately nil, $1 million and $11 million of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2024, 2023 and 2022, respectively. |
| (5) |
In connection with the sale of our Textile Effects Business, we recognized $67 million of pension settlement losses and $1 million of pension curtailment gains for the year ended December 31, 2023.
|
Huntsman International
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Pension |
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| |
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Foreign |
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and other |
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|
Amounts |
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|
Amounts |
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| |
|
currency |
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|
postretirement |
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|
|
|
|
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|
|
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attributable to |
|
|
attributable to |
|
| |
|
translation |
|
|
benefits |
|
|
|
|
|
|
|
|
|
|
noncontrolling |
|
|
Huntsman |
|
| |
|
adjustment(1) |
|
|
adjustments(2) |
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|
Other, net |
|
|
Total |
|
|
interests |
|
|
International |
|
| Beginning balance, January 1, 2024 |
|
$ |
(619 |
) |
|
$ |
(632 |
) |
|
$ |
(7 |
) |
|
$ |
(1,258 |
) |
|
$ |
28 |
|
|
$ |
(1,230 |
) |
| Other comprehensive (loss) income before reclassifications, gross |
|
|
(66 |
) |
|
|
80 |
|
|
|
3 |
|
|
|
17 |
|
|
|
(1 |
) |
|
|
16 |
|
| Tax impact |
|
|
(4 |
) |
|
|
(4 |
) |
|
|
— |
|
|
|
(8 |
) |
|
|
— |
|
|
|
(8 |
) |
| Amounts reclassified from accumulated other comprehensive loss, gross(3) |
|
|
9 |
|
|
|
30 |
|
|
|
— |
|
|
|
39 |
|
|
|
— |
|
|
|
39 |
|
| Tax impact |
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
(2 |
) |
| Net current-period other comprehensive (loss) income |
|
|
(61 |
) |
|
|
104 |
|
|
|
3 |
|
|
|
46 |
|
|
|
(1 |
) |
|
|
45 |
|
| Ending balance, December 31, 2024 |
|
$ |
(680 |
) |
|
$ |
(528 |
) |
|
$ |
(4 |
) |
|
$ |
(1,212 |
) |
|
$ |
27 |
|
|
$ |
(1,185 |
) |
| (1) |
Amounts are net of tax of $47 million and $43 million as of December 31, 2024 and January 1, 2024, respectively. |
| (2) |
Amounts are net of tax of $85 million and $91 million as of December 31, 2024 and January 1, 2024, respectively. |
| (3) |
See table below for details about these reclassifications. |
| |
|
|
|
|
|
Pension |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign |
|
|
and other |
|
|
|
|
|
|
|
|
|
|
Amounts |
|
|
Amounts |
|
| |
|
currency |
|
|
postretirement |
|
|
|
|
|
|
|
|
|
|
attributable to |
|
|
attributable to |
|
| |
|
translation |
|
|
benefits |
|
|
|
|
|
|
|
|
|
|
noncontrolling |
|
|
Huntsman |
|
| |
|
adjustment(1) |
|
|
adjustments(2) |
|
|
Other, net |
|
|
Total |
|
|
interests |
|
|
International |
|
| Beginning balance, January 1, 2023 |
|
$ |
(653 |
) |
|
$ |
(628 |
) |
|
$ |
3 |
|
|
$ |
(1,278 |
) |
|
$ |
25 |
|
|
$ |
(1,253 |
) |
| Other comprehensive income (loss) before reclassifications, gross |
|
|
7 |
|
|
|
(136 |
) |
|
|
(10 |
) |
|
|
(139 |
) |
|
|
3 |
|
|
|
(136 |
) |
| Tax impact |
|
|
— |
|
|
|
13 |
|
|
|
— |
|
|
|
13 |
|
|
|
— |
|
|
|
13 |
|
| Amounts reclassified from accumulated other comprehensive loss, gross(3) |
|
|
28 |
|
|
|
96 |
|
|
|
— |
|
|
|
124 |
|
|
|
— |
|
|
|
124 |
|
| Tax impact |
|
|
(1 |
) |
|
|
23 |
|
|
|
— |
|
|
|
22 |
|
|
|
— |
|
|
|
22 |
|
| Net current-period other comprehensive income (loss) |
|
|
34 |
|
|
|
(4 |
) |
|
|
(10 |
) |
|
|
20 |
|
|
|
3 |
|
|
|
23 |
|
| Ending balance, December 31, 2023 |
|
$ |
(619 |
) |
|
$ |
(632 |
) |
|
$ |
(7 |
) |
|
$ |
(1,258 |
) |
|
$ |
28 |
|
|
$ |
(1,230 |
) |
| (1) |
Amounts are net of tax of $43 million and $42 million as of both December 31, 2023 and January 1, 2023, respectively. |
| (2) |
Amounts are net of tax of $91 million and $55 million as of December 31, 2023 and January 1, 2023, respectively. |
| (3) |
See table below for details about these reclassifications. |
| |
|
Amounts reclassified |
|
|
|
| |
|
from accumulated other |
|
|
Affected line item in |
| |
|
comprehensive loss |
|
|
the statement |
| Details about accumulated other |
|
Year ended December 31, |
|
|
where net income |
| comprehensive loss components(1)(2): |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
is presented |
| Amortization of pension and other postretirement benefits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Actuarial loss |
|
$ |
33 |
|
|
$ |
34 |
|
|
$ |
57 |
|
(3)(4) |
Other income, net |
| Prior service credit |
|
|
(9 |
) |
|
|
(10 |
) |
|
|
(11 |
) |
(3)(4) |
Other income, net |
| Settlement loss |
|
|
6 |
|
|
|
73 |
|
|
|
5 |
|
(5) |
Other income, net |
| Curtailment gain |
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
(5) |
Other income, net |
| |
|
|
30 |
|
|
|
96 |
|
|
|
51 |
|
|
Total before tax |
| |
|
|
(2 |
) |
|
|
23 |
|
|
|
(12 |
) |
|
Income tax expense |
| Total reclassifications for the period |
|
$ |
28 |
|
|
$ |
119 |
|
|
$ |
39 |
|
|
Net of tax |
| (1) |
Details of amounts reclassified from accumulated other comprehensive loss relate only to pension and other postretirement benefits. |
| (2) |
Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. |
| (3) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 18. Employee Benefit Plans.” |
| (4) |
Amounts contain approximately nil, $1 million and $11 million of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2024, 2023 and 2022, respectively. |
| (5) |
In connection with the sale of our Textile Effects Business, we recognized $67 million of pension settlement losses and $1 million of pension curtailment gains for the year ended December 31, 2023.
|
Items of other comprehensive income (loss) of our Company and our consolidated affiliates have been recorded net of tax, with the exception of the foreign currency translation adjustments related to subsidiaries with earnings permanently reinvested. The tax effect is determined based upon the jurisdiction where the income or loss was recognized and is net of valuation allowances.
|