Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT PLANS

v2.3.0.15
EMPLOYEE BENEFIT PLANS
 9 Months Ended
Sep. 30, 2011
EMPLOYEE BENEFIT PLANS  
EMPLOYEE BENEFIT PLANS

10. EMPLOYEE BENEFIT PLANS

        Components of the net periodic benefit costs for the three and nine months ended September 30, 2011 and 2010 were as follows (dollars in millions):

Huntsman Corporation

 
   Defined
Benefit Plans 		  Other
Postretirement
Benefit Plans		  
 
   Three Months
Ended
September 30,		   Three Months
Ended
September 30,		  
 
   2011   2010   2011   2010  

Service cost

   $ 18   $ 15   $ —   $ —  

Interest cost

     39     35     2     1  

Expected return on assets

     (47 )   (39 )   —     —  

Amortization of prior service cost

     (2 )   (1 )   (1 )   (1 )

Amortization of actuarial loss

     9     6     1     1  
                   

Net periodic benefit cost

   $ 17   $ 16   $ 2   $ 1  
                   

 
   Defined
Benefit Plans 		  Other
Postretirement
Benefit Plans		  
 
   Nine Months
Ended
September 30,		   Nine Months
Ended
September 30,		  
 
   2011   2010   2011   2010  

Service cost

   $ 51   $ 48   $ 2   $ 2  

Interest cost

     116     106     6     5  

Expected return on assets

     (141 )   (121 )   —     —  

Amortization of prior service cost

     (5 )   (4 )   (2 )   (2 )

Amortization of actuarial loss

     23     18     1     1  
                   

Net periodic benefit cost

   $ 44   $ 47   $ 7   $ 6  
                   

Huntsman International

 
   Defined
Benefit Plans 		  Other
Postretirement
Benefit Plans		  
 
   Three Months
Ended
September 30,		   Three Months
Ended
September 30,		  
 
   2011   2010   2011   2010  

Service cost

   $ 18   $ 15   $ —   $ —  

Interest cost

     39     35     2     1  

Expected return on assets

     (47 )   (39 )   —     —  

Amortization of prior service cost

     (2 )   (1 )   (1 )   (1 )

Amortization of actuarial loss

     9     7     1     1  
                   

Net periodic benefit cost

   $ 17   $ 17   $ 2   $ 1  
                   

 

 
   Defined
Benefit Plans 		  Other
Postretirement
Benefit Plans		  
 
   Nine Months
Ended
September 30,		   Nine Months
Ended
September 30,		  
 
   2011   2010   2011   2010  

Service cost

   $ 51   $ 48   $ 2   $ 2  

Interest cost

     116     106     6     5  

Expected return on assets

     (141 )   (121 )   —     —  

Amortization of prior service cost

     (5 )   (4 )   (2 )   (2 )

Amortization of actuarial loss

     26     22     1     1  
                   

Net periodic benefit cost

   $ 47   $ 51   $ 7   $ 6  
                   

        In connection with the plans to implement the potential restructuring of our Textile Effects and Advanced Materials businesses, we have re-measured our Swiss pension plan and have increased our long-term pension liability by $76 million with a corresponding charge to other comprehensive income. We do not expect to record a significant gain or loss as a result of the curtailment of this plan. For more information regarding this announced restructuring plan, see "Note 6. Restructuring, Impairment and Plant Closing Costs."

        During the nine months ended September 30, 2011 and 2010, we made contributions to our pension and other postretirement benefit plans of $132 million and $100 million, respectively. During the remainder of 2011, we expect to contribute an additional amount of $31 million to these plans.