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

Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives of intangible assets


Patents and technology		5 - 30 years
Trademarks		15 - 30 years
Licenses and other agreements		5 - 15 years
Other intangibles		5 - 15 years

Schedule of calculation of basic and diluted income per share

Basic and diluted income per share is determined using the following information (in millions):

	Year Ended December 31,

	2012		2011		2010
Numerator:
Basic and diluted income from continuing operations:
Income (loss) from continuing operations attributable to Huntsman Corporation	$	368	$	244	$	(14	)

Basic and diluted net income:
Net income attributable to Huntsman Corporation	$	363	$	247	$	27

Shares (denominator):
Weighted average shares outstanding		237.6		237.6		236.0
Dilutive securities:
Stock-based awards		3.0		4.1		—

Total weighted average shares outstanding, including dilutive shares		240.6		241.7		236.0

Schedule of estimated useful lives or lease term of property, plant and equipment


Buildings and equipment		10 - 33 years
Plant and equipment		3 - 25 years
Furniture, fixtures and leasehold improvements		5 - 20 years

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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