Huntsman Corporation Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2012

Dec. 31, 2011

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS

Accrued restructuring costs by type of cost and initiative

	Workforce reductions(1)			Demolition and decommissioning			Non-cancelable lease costs			Other restructuring costs			Total(2)

Accrued liabilities as of January 1, 2012	$	73		$	-		$	11		$	8		$	92
2012 charges for 2007 and prior initiatives		2			-			-			-			2
2012 charges for 2009 initiatives		1			-			-			4			5
2012 charges for 2010 initiatives		-			-			-			1			1
2012 charges for 2011 initiatives		4			1			-			4			9
2012 charges for 2012 initiatives		33			-			-			6			39
Reversal of reserves no longer required		(13	)		-			-			(1	)		(14	)
2012 payments for 2007 and prior initiatives		(1	)		-			(1	)		(1	)		(3	)
2012 payments for 2009 initiatives		(2	)		-			-			(4	)		(6	)
2012 payments for 2010 initiatives		(2	)		-			(1	)		-			(3	)
2012 payments for 2011 initiatives		(19	)		(1	)		-			(4	)		(24	)
2012 payments for 2012 initiatives		(4	)		-			-			(5	)		(9	)
Foreign currency effect on liability balance		1			-			-			-			1

Accrued liabilities as of September 30, 2012	$	73		$	-		$	9		$	8		$	90

(1): The total workforce reduction reserves of $73 million relate to the termination of 581 positions, of which 544 positions had not been terminated as of September 30, 2012.
(2): Accrued liabilities by initiatives were as follows (dollars in millions):

	September 30, 2012		December 31, 2011

2007 initiatives and prior	$	2	$	2
2009 initiatives		7		11
2010 initiatives		9		16
2011 initiatives		42		63
2012 initiatives		30		-

Total	$	90	$	92

	Workforce reductions(1)			Demolition and decommissioning			Non- cancelable lease costs			Other restructuring costs			Total(2)

Accrued liabilities as of January 1, 2009	$	68		$	2		$	2		$	3		$	75
Adjustment to Textile Effects opening balance sheet liabilities		(5	)		-			-			-			(5	)
2009 charges for 2006 initiatives		-			1			-			-			1
2009 charges for 2008 initiatives		5			-			-			-			5
2009 charges for 2009 initiatives		56			8			-			14			78
Reversal of reserves no longer required		(8	)		-			-			-			(8	)
2009 payments for 2005 and prior initiatives		(5	)		-			-			-			(5	)
2009 payments for 2006 initiatives		(28	)		(1	)		-			-			(29	)
2009 payments for 2008 initiatives		(17	)		-			-			-			(17	)
2009 payments for 2009 initiatives		(32	)		(8	)		-			(12	)		(52	)
Net activity of discontinued operations		26			-			-			8			34
Foreign currency effect on reserve balance		-			-			-			(2	)		(2	)

Accrued liabilities as of December 31, 2009		60			2			2			11			75
2010 charges for 2005 and prior initiatives		1			-			-			-			1
2010 charges for 2008 initiatives		1			-			-			-			1
2010 charges for 2009 initiatives		4			-			-			5			9
2010 charges for 2010 initiatives		22			-			-			1			23
Reversal of reserves no longer required		(6	)		-			(1	)		-			(7	)
2010 payments for 2005 and prior initiatives		(1	)		(1	)		-			-			(2	)
2010 payments for 2006 initiatives		(3	)		-			-			-			(3	)
2010 payments for 2008 initiatives		(7	)		-			-			-			(7	)
2010 payments for 2009 initiatives		(11	)		-			-			(5	)		(16	)
2010 payments for 2010 initiatives		(1	)		-			-			(2	)		(3	)
Net activity of discontinued operations		(26	)		-			-			-			(26	)
Foreign currency effect on liability balance		3			-			-			1			4

Accrued liabilities as of December 31, 2010		36			1			1			11			49
2011 charges for 2006 and prior initiatives		1			-			-			-			1
2011 charges for 2009 initiatives		1			-			-			6			7
2011 charges for 2010 initiatives		2			2			10			1			15
2011 charges for 2011 initiatives		87			-			1			1			89
Reversal of reserves no longer required		(5	)		-			-			-			(5	)
2011 payments for 2006 and prior initiatives		(1	)		-			(1	)		(1	)		(3	)
2011 payments for 2008 initiatives		(2	)		-			-			-			(2	)
2011 payments for 2009 initiatives		(6	)		-			-			(6	)		(12	)
2011 payments for 2010 initiatives		(17	)		(3	)		-			(1	)		(21	)
2011 payments for 2011 initiatives		(13	)		-			-			(1	)		(14	)
Net activity of discontinued operations		-			-			-			(2	)		(2	)
Foreign currency effect on liability balance		(10	)		-			-			-			(10	)

Accrued liabilities as of December 31, 2011	$	73		$	-		$	11		$	8		$	92

(1): The total workforce reduction reserves of $73 million relate to the termination of 699 positions, of which 650 positions had not been terminated as of December 31, 2011.
(2): Accrued liabilities remaining at December 31, 2011 and 2010 by year of initiatives were as follows (dollars in millions):

	December 31,

	2011		2010
2006 initiatives and prior	$	2	$	4
2008 initiatives		-		1
2009 initiatives		11		20
2010 initiatives		16		24
2011 initiatives		63		-

Total	$	92	$	49

Accrued restructuring costs by type of initiative

	September 30, 2012		December 31, 2011

2007 initiatives and prior	$	2	$	2
2009 initiatives		7		11
2010 initiatives		9		16
2011 initiatives		42		63
2012 initiatives		30		-

Total	$	90	$	92

	December 31,
	2011		2010
2006 initiatives and prior	$	2	$	4
2008 initiatives		-		1
2009 initiatives		11		20
2010 initiatives		16		24
2011 initiatives		63		-

Total	$	92	$	49

Details with respect to reserves for restructuring, impairment and plant closing costs, provided by segment and initiative

	Polyurethanes			Performance Products			Advanced Materials			Textile Effects			Pigments			Discontinued Operations		Corporate and Other			Total

Accrued liabilities as of January 1, 2012	$	—		$	1		$	12		$	69		$	3		$	6	$	1		$	92
2012 charges for 2007 and prior initiatives		—			—			—			2			—			—		—			2
2012 charges for 2009 initiatives		—			—			1			—			4			—		—			5
2012 charges for 2010 initiatives		—			—			—			—			—			—		1			1
2012 charges for 2011 initiatives		—			—			3			6			—			—		—			9
2012 charges for 2012 initiatives		37			—			2			—			—			—		—			39
Reversal of reserves no longer required		—			—			—			(14	)		—			—		—			(14	)
2012 payments for 2007 and prior initiatives		—			—			—			(2	)		(1	)		—		—			(3	)
2012 payments for 2009 initiatives		—			—			(1	)		—			(5	)		—		—			(6	)
2012 payments for 2010 initiatives		—			(1	)		—			(1	)		—			—		(1	)		(3	)
2012 payments for 2011 initiatives		—			—			(12	)		(12	)		—			—		—			(24	)
2012 payments for 2012 initiatives		(7	)		—			(2	)		—			—			—		—			(9	)
Foreign currency effect on liability balance		—			—			—			1			1			—		(1	)		1

Accrued liabilities as of September 30, 2012	$	30		$	—		$	3		$	49		$	2		$	6	$	—		$	90

Current portion of restructuring reserves	$	18		$	—		$	2		$	28		$	2		$	6	$	—		$	56
Long-term portion of restructuring reserve		12			—			1			21			—			—		—			34
Estimated additional future charges for current restructuring projects
Estimated additional charges within one year		1			—			—			15			—			—		—			16
Estimated additional charges beyond one year		—			—			—			4			—			—		—			4

	Polyurethanes			Performance Products			Advanced Materials			Textile Effects			Pigments			Discontinued Operations			Corporate & Other			Total

Accrued liabilities as of January 1, 2009	$	3		$	1		$	1		$	63		$	7		$	-		$	-		$	75
Adjustment to Textile Effects opening balance sheet liabilities		-			-			-			(5	)		-			-			-			(5	)
2009 charges for 2006 initiatives		-			-			-			1			-			-			-			1
2009 charges for 2008 initiatives		1			-			-			2			2			-			-			5
2009 charges for 2009 initiatives		-			-			12			10			45			-			11			78
Reversal of reserves no longer required		-			-			-			(7	)		(1	)		-			-			(8	)
2009 payments for 2005 and prior initiatives		(2	)		(1	)		-			-			(2	)		-			-			(5	)
2009 payments for 2006 initiatives		-			-			-			(29	)		-			-			-			(29	)
2009 payments for 2008 initiatives		-			-			-			(13	)		(4	)		-			-			(17	)
2009 payments for 2009 initiatives		-			-			(6	)		(4	)		(35	)		-			(7	)		(52	)
Net activity of discontinued operations		-			-			-			-			-			34			-			34
Foreign currency effect on liability balance		-			-			-			(1	)		(1	)		-			-			(2	)

Accrued liabilities as of December 31, 2009		2			-			7			17			11			34			4			75
2010 charges for 2005 initiatives		-			-			-			-			1			-			-			1
2010 charges for 2008 initiatives		-			-			-			1			-			-			-			1
2010 charges for 2009 initiatives		-			-			1			-			8			-			-			9
2010 charges for 2010 initiatives		-			2			-			15			-			-			6			23
Reversal of reserves no longer required		-			-			(3	)		(1	)		(2	)		-			(1	)		(7	)
2010 payments for 2005 initiatives		(1	)		-			-			-			(1	)		-			-			(2	)
2010 payments for 2006 initiatives		-			-			-			(3	)		-			-			-			(3	)
2010 payments for 2008 initiatives		(1	)		-			-			(5	)		(1	)		-			-			(7	)
2010 payments for 2009 initiatives		-			-			(3	)		(2	)		(8	)		-			(3	)		(16	)
2010 payments for 2010 initiatives		-			(1	)		-			-			-			-			(2	)		(3	)
Net activity of discontinued operations		-			-			-			-			-			(26	)		-			(26	)
Foreign currency effect on liability balance		-			-			-			3			-			-			1			4

Accrued liabilities as of December 31, 2010		-			1			2			25			8			8			5			49
2011 charges for 2006 and prior initiatives		-			-			-			1			-			-			-			1
2011 charges for 2009 Initiatives		-			-			-			-			7			-			-			7
2011 charges for 2010 Initiatives		-			-			-			13			-			-			2			15
2011 charges for 2011 Initiatives		-			-			21			65			3			-			-			89
Reversal of reserves no longer required		-			-			(1	)		(4	)		-			-			-			(5	)
2011 payments for 2006 and prior initiatives		-			-			-			(2	)		(1	)		-			-			(3	)
2011 payments for 2008 Initiatives		-			-			-			(1	)		(1	)		-			-			(2	)
2011 payments for 2009 Initiatives		-			-			(1	)		-			(11	)		-			-			(12	)
2011 payments for 2010 Initiatives		-			-			-			(15	)		-			-			(6	)		(21	)
2011 payments for 2011 Initiatives		-			-			(7	)		(5	)		(2	)		-			-			(14	)
Net activity of discontinued operations		-			-			-			-			-			(2	)		-			(2	)
Foreign currency effect on liability balance		-			-			(2	)		(8	)		-			-			-			(10	)

Accrued liabilities as of December 31, 2011	$	-		$	1		$	12		$	69		$	3		$	6		$	1		$	92

Current portion of restructuring reserves	$	-		$	1		$	11		$	69		$	3		$	6		$	1		$	91
Long-term portion of restructuring reserve		-			-			1			-			-			-			-			1
Estimated additional future charges for current restructuring projects
Estimated additional charges within one year	$	-		$	-		$	1		$	10		$	6		$	-		$	-		$	17
Estimated additional charges beyond one year		-			-			-			15			-			-			-			15

Cash and non-cash restructuring charges by initiative

	Three months ended September 30, 2012			Nine months ended September 30, 2012

Cash charges:
2012 charges for 2007 and prior initiatives	$	-		$	2
2012 charges for 2009 initiatives		1			5
2012 charges for 2010 initiatives		-			1
2012 charges for 2011 initiatives		5			9
2012 charges for 2012 initiatives		33			39
Reversal of reserves no longer required		(1	)		(14	)
Noncash charges		9			10

Total 2012 Restructuring, Impairment and Plant Closing Costs	$	47		$	52

	Three months ended September 30, 2011			Nine months ended September 30, 2011

Cash charges:
2011 charges for 2007 and prior initiatives	$	-		$	2
2011 charges for 2009 initiatives		2			5
2011 charges for 2010 initiatives		2			5
2011 charges for 2011 initiatives		99			110
Reversal of reserves no longer required		(1	)		(4	)
Noncash charges		53			53

Total 2011 Restructuring, Impairment and Plant Closing Costs	$	155		$	171


Cash charges:
2011 charges for 2006 and prior initiatives	$	1
2011 charges for 2009 initiatives		7
2011 charges for 2010 initiatives		15
2011 charges for 2011 initiatives		89
Reversal of reserves no longer required		(5	)
Non-cash charges		60

Total 2011 Restructuring, Impairment and Plant Closing Costs	$	167

Cash charges:
2010 charges for 2005 and prior initiatives	$	1
2010 charges for 2008 initiatives		1
2010 charges for 2009 initiatives		9
2010 charges for 2010 initiatives		23
Reversal of reserves no longer required		(7	)
Non-cash charges		2

Total 2010 Restructuring, Impairment and Plant Closing Costs	$	29

Cash charges:
2009 charges for 2006 initiatives	$	1
2009 charges for 2008 initiatives		5
2009 charges for 2009 initiatives		78
Reversal of reserves no longer required		(8	)
Non-cash charges		12

Total 2009 Restructuring, Impairment and Plant Closing Costs	$	88

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References + Details