Annual report pursuant to Section 13 and 15(d)

Note 26 - Operating Segment Information - Financial Information By Segment (Details)

v3.25.0.1
Note 26 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues $ 6,036 [1] $ 6,111 $ 8,023 [1]
Variable direct costs(2) 4,060 4,097 5,311
Adjusted fixed costs [2] 1,462 1,486 1,551
Other segment items [3] (35) (83) (135)
Segment adjusted EBITDA [4] 577 635 1,330
Interest expense, net—continuing operations (79) (65) (62)
Depreciation and amortization—continuing operations (289) (278) (281)
Corporate and other costs, net [5] (163) (163) (175)
Net income attributable to noncontrolling interests 62 52 63
Business acquisition and integration expenses and purchase accounting inventory adjustments, net (21) (4) (12)
Fair value adjustments to Venator investment, net and other tax matter adjustments 12 (5) (12)
Certain legal and other settlements and related expenses [6] (13) (6) (7)
Loss on sale of business/assets (1)    
Loss on dissolution of subsidiaries(8) (39) [7] (0) (0)
Amortization of pension and postretirement actuarial losses (39) (37) (49)
Restructuring, impairment and plant closing and transition costs [8] (46) (25) (96)
Income from continuing operations before income taxes (39) 99 697
Income tax expense—continuing operations (61) (64) (186)
(Loss) income from discontinued operations, net of tax (27) 118 12
Net (loss) income (127) 153 523
Certain nonrecurring information technology project implementation costs   (5) (5)
Costs associated with the Albemarle Settlement, net     (3)
Income from transition services arrangements     2
Plant incident remediation credits     4
Total assets 7,114 7,248  
Depreciation and amortization - continuing operations 289 278 281
Capital expenditures 184 230 272
Goodwill 633 644  
Huntsman International LLC [Member]      
Revenues 6,036 6,111 8,023
Variable direct costs(2) 4,060 4,097 5,311 [2],[9]
Adjusted fixed costs [2] 1,462 1,486 1,551
Other segment items [3] (35) (83) (135)
Segment adjusted EBITDA [4] 577 635 1,330
Interest expense, net—continuing operations (79) (65) (62)
Depreciation and amortization—continuing operations (289) (278) (281)
Corporate and other costs, net [5] (160) (160) (172)
Net income attributable to noncontrolling interests 62 52 63
Business acquisition and integration expenses and purchase accounting inventory adjustments, net (21) (4) (12)
Fair value adjustments to Venator investment, net and other tax matter adjustments 12 (5) (12)
Certain legal and other settlements and related expenses [6] (13) (6) (7)
Loss on sale of business/assets (1)    
Loss on dissolution of subsidiaries(8) (39) [7] (0) (0)
Amortization of pension and postretirement actuarial losses (39) (37) (49)
Restructuring, impairment and plant closing and transition costs [8] (46) (25) (96)
Income from continuing operations before income taxes (36) 102 700
Income tax expense—continuing operations (62) (65) (188)
(Loss) income from discontinued operations, net of tax (27) 118 12
Net (loss) income (125) 155 524
Certain nonrecurring information technology project implementation costs   (5) (5)
Costs associated with the Albemarle Settlement, net     (3)
Income from transition services arrangements     2
Plant incident remediation credits     4
Total assets 7,114 7,253  
Depreciation and amortization - continuing operations 289 278 281
Capital expenditures 184 230 272
Goodwill 633 644  
Operating Segments [Member]      
Revenues [10] 6,064 6,135 8,057
Depreciation and amortization—continuing operations (280) (266) (265)
Total assets 6,462 6,574  
Depreciation and amortization - continuing operations 280 266 265
Capital expenditures 180 223 260
Operating Segments [Member] | Huntsman International LLC [Member]      
Revenues [10] 6,064 6,135 8,057
Total assets 6,462 6,574  
Operating Segments [Member] | Polyurethanes [Member]      
Revenues [10] 3,900 [1] 3,865 5,067 [1]
Variable direct costs(2) 2,943 2,904 3,718
Adjusted fixed costs [2] 744 787 821
Other segment items [3] (32) (74) (100)
Segment adjusted EBITDA [4] 245 248 628
Depreciation and amortization—continuing operations (161) (141) (136)
Total assets 4,151 4,261  
Depreciation and amortization - continuing operations 161 141 136
Capital expenditures 78 98 142
Goodwill 328 338  
Operating Segments [Member] | Polyurethanes [Member] | Huntsman International LLC [Member]      
Revenues [10] 3,900 3,865 5,067
Variable direct costs(2) 2,943 2,904 3,718 [2],[9]
Adjusted fixed costs [2] 744 787 821
Other segment items [3] (32) (74) (100)
Segment adjusted EBITDA [4] 245 248 628
Total assets 4,151 4,261  
Operating Segments [Member] | Performance Products [Member]      
Revenues [10] 1,109 [1] 1,178 1,713 [1]
Variable direct costs(2) 618 647 907
Adjusted fixed costs [2] 328 329 348
Other segment items [3] 10 1 (11)
Segment adjusted EBITDA [4] 153 201 469
Depreciation and amortization—continuing operations (67) (72) (72)
Total assets 1,214 1,170  
Depreciation and amortization - continuing operations 67 72 72
Capital expenditures 85 100 92
Goodwill 15 16  
Operating Segments [Member] | Performance Products [Member] | Huntsman International LLC [Member]      
Revenues [10] 1,109 1,178 1,713
Variable direct costs(2) 618 647 907 [2],[9]
Adjusted fixed costs [2] 328 329 348
Other segment items [3] 10 1 (11)
Segment adjusted EBITDA [4] 153 201 469
Total assets 1,214 1,170  
Operating Segments [Member] | Advanced Materials [Member]      
Revenues [10] 1,055 [1] 1,092 1,277 [1]
Variable direct costs(2) 499 546 686
Adjusted fixed costs [2] 390 370 382
Other segment items [3] (13) (10) (24)
Segment adjusted EBITDA [4] 179 186 233
Depreciation and amortization—continuing operations (52) (53) (57)
Total assets 1,097 1,143  
Depreciation and amortization - continuing operations 52 53 57
Capital expenditures 17 25 26
Goodwill 290 290  
Operating Segments [Member] | Advanced Materials [Member] | Huntsman International LLC [Member]      
Revenues [10] 1,055 1,092 1,277
Variable direct costs(2) 499 546 686 [2],[9]
Adjusted fixed costs [2] 390 370 382
Other segment items [3] (13) (10) (24)
Segment adjusted EBITDA [4] 179 186 233
Total assets 1,097 1,143  
Corporate and Reconciling Items [Member]      
Revenues (28) [1] (24) (34) [1]
Depreciation and amortization—continuing operations (9) (12) (16)
Total assets 652 674  
Depreciation and amortization - continuing operations 9 12 16
Capital expenditures 4 7 $ 12
Corporate and Reconciling Items [Member] | Huntsman International LLC [Member]      
Total assets $ 652 $ 679  
[1] Geographic information for revenues is based upon countries into which product is sold.
[2] Adjusted fixed costs include fixed costs, less depreciation and amortization.
[3] Other segment items include other operating and non-operating income and expense items and foreign currency exchange effects.
[4] 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 our CODM uses to make decisions about resources to be allocated to the segments and assess their financial performance. Our CODM is the senior executive committee that includes our Chief Executive Officer and our Chief Financial Officer. 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, net; (b) fair value adjustments to Venator investment, net and other tax matter adjustments; (c) certain legal and other settlements and related expenses; (d) loss on sale of business/assets; (e) loss on dissolution of subsidiaries; (f) amortization of pension and postretirement actuarial losses; (g) restructuring, impairment, plant closing and transition costs; (h) (loss) income from discontinued operations, net of tax; (i) certain nonrecurring information technology project implementation costs; (j) costs associated with the Albemarle Settlement, net; (k) income from transition services arrangements; and (l) plant incident remediation credits.
[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] Certain legal and other settlements and related expenses for the year ended December 31, 2024 includes approximately $10 million related to the settlement of a claim in connection with a commercial dispute.
[7] Loss on dissolution of subsidiaries for the year ended December 31, 2024 relates to the elimination and non-cash recognition of cumulative translation adjustments from accumulated other comprehensive loss due to the liquidation of certain subsidiaries.
[8] Includes costs associated with transition activities relating primarily to our Corporate program to optimize our global approach to managed services in various information technology functions and our program to realign our cost structure in Europe.
[9] Variable direct costs primarily include raw materials, utilities and freight-related costs.
[10] A reconciliation of total reportable segments’ revenues to total consolidated revenues is provided in “Note 17. Revenue Recognition.”