Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 26 - Operating Segment Information (Tables)

Note 26 - Operating Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*Year ended December 31, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,900		$	1,109	$	1,055		$	6,064

Significant segment expenses:
Variable direct costs⁽²⁾		2,943			618		499			4,060
Adjusted fixed costs⁽³⁾		744			328		390			1,462
Other segment items⁽⁴⁾		(32	)		10		(13	)		(35	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	245		$	153	$	179			577

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(79	)
Depreciation and amortization—continuing operations										(289	)
Corporate and other costs, net⁽⁶⁾										(163	)
Net income attributable to noncontrolling interests										62
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(21	)
Fair value adjustments to Venator investment, net and other tax matter adjustments										12
Certain legal and other settlements and related expenses⁽⁷⁾										(13	)
Loss on sale of business/assets										(1	)
Loss on dissolution of subsidiaries⁽⁸⁾										(39	)
Amortization of pension and postretirement actuarial losses										(39	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(46	)
Loss from continuing operations before income taxes										(39	)

Income tax expense—continuing operations										(61	)
Loss from discontinued operations, net of tax										(27	)
Net loss									$	(127	)

	*Year ended December 31, 2023*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,865		$	1,178	$	1,092		$	6,135

Significant segment expenses:
Variable direct costs⁽²⁾		2,904			647		546			4,097
Adjusted fixed costs⁽³⁾		787			329		370			1,486
Other segment items⁽⁴⁾		(74	)		1		(10	)		(83	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	248		$	201	$	186			635

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(65	)
Depreciation and amortization—continuing operations										(278	)
Corporate and other costs, net⁽⁶⁾										(163	)
Net income attributable to noncontrolling interests										52
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(4	)
Fair value adjustments to Venator investment, net										(5	)
Certain legal and other settlements and related expenses										(6	)
Certain nonrecurring information technology project implementation costs										(5	)
Amortization of pension and postretirement actuarial losses										(37	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(25	)
Income from continuing operations before income taxes										99

Income tax expense—continuing operations										(64	)
Income from discontinued operations, net of tax										118
Net income									$	153

	*Year ended December 31, 2022*
	*Polyurethanes*			*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	5,067		$	1,713		$	1,277		$	8,057

Significant segment expenses:
Variable direct costs⁽²⁾		3,718			907			686			5,311
Adjusted fixed costs⁽³⁾		821			348			382			1,551
Other segment items⁽⁴⁾		(100	)		(11	)		(24	)		(135	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	628		$	469		$	233			1,330

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations											(62	)
Depreciation and amortization—continuing operations											(281	)
Corporate and other costs, net⁽⁶⁾											(175	)
Net income attributable to noncontrolling interests											63
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net											(12	)
Fair value adjustments to Venator investment, net											(12	)
Certain legal and other settlements and related expenses											(7	)
Costs associated with the Albemarle Settlement, net											(3	)
Income from transition services arrangements											2
Certain nonrecurring information technology project implementation costs											(5	)
Amortization of pension and postretirement actuarial losses											(49	)
Plant incident remediation credits											4
Restructuring, impairment and plant closing and transition costs⁽⁹⁾											(96	)
Income from continuing operations before income taxes											697

Income tax expense—continuing operations											(186	)
Income from discontinued operations, net of tax											12
Net income										$	523

	*Year ended December 31, 2024*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,900			1,109	$	1,055		$	6,064

Significant segment expenses:
Variable direct costs⁽²⁾		2,943			618		499			4,060
Adjusted fixed costs⁽³⁾		744			328		390			1,462
Other segment items⁽⁴⁾		(32	)		10		(13	)		(35	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	245		$	153	$	179			577

Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes:
Interest expense, net—continuing operations										(79	)
Depreciation and amortization—continuing operations										(289	)
Corporate and other costs, net⁽⁶⁾										(160	)
Net income attributable to noncontrolling interests										62
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(21	)
Fair value adjustments to Venator investment, net and other tax matter adjustments										12
Certain legal and other settlements and related expenses⁽⁷⁾										(13	)
Loss on sale of business/assets										(1	)
Loss on dissolution of subsidiaries⁽⁸⁾										(39	)
Amortization of pension and postretirement actuarial losses										(39	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(46	)
Loss from continuing operations before income taxes										(36	)

Income tax expense—continuing operations										(62	)
Loss from discontinued operations, net of tax										(27	)
Net loss									$	(125	)

	*Year ended December 31, 2023*
	*Polyurethanes*			*Performance Products*		*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	3,865		$	1,178	$	1,092		$	6,135

Significant segment expenses:
Variable direct costs⁽²⁾		2,904			647		546			4,097
Adjusted fixed costs⁽³⁾		787			329		370			1,486
Other segment items⁽⁴⁾		(74	)		1		(10	)		(83	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	248		$	201	$	186			635

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations										(65	)
Depreciation and amortization—continuing operations										(278	)
Corporate and other costs, net⁽⁶⁾										(160	)
Net income attributable to noncontrolling interests										52
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net										(4	)
Fair value adjustments to Venator investment, net										(5	)
Certain legal and other settlements and related expenses										(6	)
Certain nonrecurring information technology project implementation costs										(5	)
Amortization of pension and postretirement actuarial losses										(37	)
Restructuring, impairment and plant closing and transition costs⁽⁹⁾										(25	)
Income from continuing operations before income taxes										102

Income tax expense—continuing operations										(65	)
Income from discontinued operations, net of tax										118
Net income									$	155

	*Year ended December 31, 2022*
	*Polyurethanes*			*Performance Products*			*Advanced Materials*			*Total*
Revenues:
Reportable segments’ revenues⁽¹⁾	$	5,067		$	1,713		$	1,277		$	8,057

Significant segment expenses:
Variable direct costs⁽²⁾		3,718			907			686			5,311
Adjusted fixed costs⁽³⁾		821			348			382			1,551
Other segment items⁽⁴⁾		(100	)		(11	)		(24	)		(135	)
Total reportable segments’ adjusted EBITDA⁽⁵⁾	$	628		$	469		$	233			1,330

Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net—continuing operations											(62	)
Depreciation and amortization—continuing operations											(281	)
Corporate and other costs, net⁽⁶⁾											(172	)
Net income attributable to noncontrolling interests											63
Other adjustments:
Business acquisition and integration expenses and purchase accounting inventory adjustments, net											(12	)
Fair value adjustments to Venator investment, net											(12	)
Certain legal and other settlements and related expenses											(7	)
Costs associated with the Albemarle Settlement, net											(3	)
Income from transition services arrangements											2
Certain nonrecurring information technology project implementation costs											(5	)
Amortization of pension and postretirement actuarial losses											(49	)
Plant incident remediation credits											4
Restructuring, impairment and plant closing and transition costs⁽⁹⁾											(96	)
Income from continuing operations before income taxes											700

Income tax expense—continuing operations											(188	)
Income from discontinued operations, net of tax											12
Net income										$	524

	*Huntsman Corporation*				*Huntsman International*
	*December 31,*				*December 31,*
	*2024*		*2023*		*2024*		*2023*
Total assets:
Polyurethanes	$	4,151	$	4,261	$	4,151	$	4,261
Performance Products		1,214		1,170		1,214		1,170
Advanced Materials		1,097		1,143		1,097		1,143
Total reportable segments’ total assets		6,462		6,574		6,462		6,574
Corporate and other		652		674		652		679
Total	$	7,114	$	7,248	$	7,114	$	7,253

	*Year ended December 31,*
	*2024*		*2023*		*2022*
Depreciation and amortization:
Polyurethanes	$	161	$	141	$	136
Performance Products		67		72		72
Advanced Materials		52		53		57
Total reportable segments’ depreciation and amortization		280		266		265
Corporate and other		9		12		16
Total	$	289	$	278	$	281

	*Year ended December 31,*
	*2024*		*2023*		*2022*
Capital expenditures:
Polyurethanes	$	78	$	98	$	142
Performance Products		85		100		92
Advanced Materials		17		25		26
Total reportable segments’ capital expenditures		180		223		260
Corporate and other		4		7		12
Total	$	184	$	230	$	272

	*December 31,*
	*2024*		*2023*
Goodwill:
Polyurethanes	$	328	$	338
Performance Products		15		16
Advanced Materials		290		290
Total	$	633	$	644

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	*Year ended December 31,*
	*2024*		*2023*		*2022*
Revenues by geographic area⁽¹⁾:
United States	$	2,124	$	2,140	$	3,089
China		1,082		1,084		1,305
Germany		373		423		522
Canada		216		211		242
Italy		207		216		249
India		191		164		196
United Kingdom		156		155		193
Other nations		1,687		1,718		2,227
Total	$	6,036	$	6,111	$	8,023

	*December 31,*
	*2024*		*2023*
Long-lived assets⁽²⁾:
United States	$	1,188	$	1,216
China		399		200
The Netherlands		315		321
Hungary		118		108
Saudi Arabia		102		112
Germany		82		92
Switzerland		67		76
United Kingdom		60		64
Singapore		59		66
Other nations		103		121
Total	$	2,493	$	2,376