Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (UNAUDITED) (Tables)

v3.3.0.814
CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF HUNTSMAN INTERNATIONAL LLC (UNAUDITED) (Tables) - Huntsman International
9 Months Ended
Sep. 30, 2015
Condensed consolidated financial information  
CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED)

 

AS OF SEPTEMBER 30, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

89

 

$

1

 

$

340

 

$

 

$

430

 

Restricted cash

 

 

 

 

 

 

4

 

 

 

 

4

 

Accounts and notes receivable, net

 

 

34

 

 

134

 

 

1,421

 

 

7

 

 

1,596

 

Accounts receivable from affiliates

 

 

2,103

 

 

4,505

 

 

139

 

 

(6,399

)

 

348

 

Inventories

 

 

99

 

 

359

 

 

1,398

 

 

(6

)

 

1,850

 

Prepaid expenses

 

 

15

 

 

12

 

 

61

 

 

(16

)

 

72

 

Deferred income taxes

 

 

12

 

 

 

 

65

 

 

(18

)

 

59

 

Other current assets

 

 

737

 

 

8

 

 

196

 

 

(741

)

 

200

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current assets

 

 

3,089

 

 

5,019

 

 

3,624

 

 

(7,173

)

 

4,559

 

Property, plant and equipment, net

 

 

463

 

 

1,373

 

 

2,504

 

 

1

 

 

4,341

 

Investment in unconsolidated affiliates

 

 

6,103

 

 

1,644

 

 

259

 

 

(7,660

)

 

346

 

Intangible assets, net

 

 

33

 

 

3

 

 

51

 

 

 

 

87

 

Goodwill

 

 

(14

)

 

82

 

 

49

 

 

 

 

117

 

Deferred income taxes

 

 

412

 

 

 

 

424

 

 

(412

)

 

424

 

Notes receivable from affiliates

 

 

24

 

 

549

 

 

 

 

(573

)

 

 

Other noncurrent assets

 

 

140

 

 

252

 

 

240

 

 

(1

)

 

631

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total assets

 

$

10,250

 

$

8,922

 

$

7,151

 

$

(15,818

)

$

10,505

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

52

 

$

219

 

$

760

 

$

6

 

$

1,037

 

Accounts payable to affiliates

 

 

3,658

 

 

781

 

 

2,017

 

 

(6,402

)

 

54

 

Accrued liabilities

 

 

91

 

 

848

 

 

617

 

 

(757

)

 

799

 

Deferred income taxes

 

 

 

 

51

 

 

12

 

 

(19

)

 

44

 

Note payable to affiliate

 

 

100

 

 

 

 

 

 

 

 

100

 

Current portion of debt

 

 

98

 

 

 

 

60

 

 

 

 

158

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current liabilities

 

 

3,999

 

 

1,899

 

 

3,466

 

 

(7,172

)

 

2,192

 

Long-term debt

 

 

4,316

 

 

 

 

393

 

 

 

 

4,709

 

Notes payable to affiliates

 

 

795

 

 

 

 

579

 

 

(572

)

 

802

 

Deferred income taxes

 

 

29

 

 

171

 

 

43

 

 

99

 

 

342

 

Other noncurrent liabilities

 

 

156

 

 

264

 

 

898

 

 

(1

)

 

1,317

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities

 

 

9,295

 

 

2,334

 

 

5,379

 

 

(7,646

)

 

9,362

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huntsman International LLC members' equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members' equity

 

 

3,187

 

 

4,508

 

 

3,428

 

 

(7,936

)

 

3,187

 

Accumulated (deficit) income

 

 

(958

)

 

619

 

 

(546

)

 

(73

)

 

(958

)

Accumulated other comprehensive (loss) income

 

 

(1,274

)

 

1,446

 

 

(1,276

)

 

(170

)

 

(1,274

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total Huntsman International LLC members' equity

 

 

955

 

 

6,573

 

 

1,606

 

 

(8,179

)

 

955

 

Noncontrolling interests in subsidiaries

 

 

 

 

15

 

 

166

 

 

7

 

 

188

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total equity

 

 

955

 

 

6,588

 

 

1,772

 

 

(8,172

)

 

1,143

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities and equity

 

$

10,250

 

$

8,922

 

$

7,151

 

$

(15,818

)

$

10,505

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


AS OF DECEMBER 31, 2014
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

353

 

$

6

 

$

351

 

$

 

$

710

 

Restricted cash

 

 

 

 

 

 

10

 

 

 

 

10

 

Accounts and notes receivable, net

 

 

57

 

 

127

 

 

1,476

 

 

5

 

 

1,665

 

Accounts receivable from affiliates

 

 

2,256

 

 

4,732

 

 

152

 

 

(6,794

)

 

346

 

Inventories

 

 

120

 

 

350

 

 

1,558

 

 

(3

)

 

2,025

 

Prepaid expenses

 

 

17

 

 

9

 

 

46

 

 

(11

)

 

61

 

Deferred income taxes

 

 

12

 

 

 

 

68

 

 

(18

)

 

62

 

Other current assets

 

 

697

 

 

7

 

 

208

 

 

(606

)

 

306

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current assets

 

 

3,512

 

 

5,231

 

 

3,869

 

 

(7,427

)

 

5,185

 

Property, plant and equipment, net

 

 

431

 

 

1,251

 

 

2,692

 

 

1

 

 

4,375

 

Investment in unconsolidated affiliates

 

 

6,024

 

 

1,594

 

 

256

 

 

(7,524

)

 

350

 

Intangible assets, net

 

 

35

 

 

5

 

 

56

 

 

 

 

96

 

Goodwill

 

 

(15

)

 

82

 

 

55

 

 

 

 

122

 

Deferred income taxes

 

 

454

 

 

 

 

435

 

 

(454

)

 

435

 

Notes receivable from affiliates

 

 

23

 

 

592

 

 

 

 

(615

)

 

 

Other noncurrent assets

 

 

127

 

 

203

 

 

212

 

 

(4

)

 

538

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total assets

 

$

10,591

 

$

8,958

 

$

7,575

 

$

(16,023

)

$

11,101

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

55

 

$

290

 

$

868

 

$

5

 

$

1,218

 

Accounts payable to affiliates

 

 

3,696

 

 

974

 

 

2,198

 

 

(6,794

)

 

74

 

Accrued liabilities

 

 

102

 

 

699

 

 

553

 

 

(618

)

 

736

 

Deferred income taxes

 

 

 

 

51

 

 

20

 

 

(19

)

 

52

 

Note payable to affiliate

 

 

100

 

 

 

 

 

 

 

 

100

 

Current portion of debt

 

 

40

 

 

 

 

227

 

 

 

 

267

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current liabilities

 

 

3,993

 

 

2,014

 

 

3,866

 

 

(7,426

)

 

2,447

 

Long-term debt

 

 

4,629

 

 

 

 

304

 

 

 

 

4,933

 

Notes payable to affiliates

 

 

650

 

 

 

 

621

 

 

(615

)

 

656

 

Deferred income taxes

 

 

29

 

 

197

 

 

46

 

 

54

 

 

326

 

Other noncurrent liabilities

 

 

167

 

 

261

 

 

1,015

 

 

 

 

1,443

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities

 

 

9,468

 

 

2,472

 

 

5,852

 

 

(7,987

)

 

9,805

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huntsman International LLC members' equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members' equity

 

 

3,166

 

 

4,676

 

 

3,127

 

 

(7,803

)

 

3,166

 

Accumulated (deficit) income

 

 

(956

)

 

409

 

 

(501

)

 

92

 

 

(956

)

Accumulated other comprehensive (loss) income

 

 

(1,087

)

 

1,401

 

 

(1,076

)

 

(325

)

 

(1,087

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total Huntsman International LLC members' equity

 

 

1,123

 

 

6,486

 

 

1,550

 

 

(8,036

)

 

1,123

 

Noncontrolling interests in subsidiaries

 

 

 

 

 

 

173

 

 

 

 

173

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total equity

 

 

1,123

 

 

6,486

 

 

1,723

 

 

(8,036

)

 

1,296

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities and equity

 

$

10,591

 

$

8,958

 

$

7,575

 

$

(16,023

)

$

11,101

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED)

 

THREE MONTHS ENDED SEPTEMBER 30, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

270

 

$

674

 

$

1,661

 

$

 

$

2,605

 

Related party sales

 

 

62

 

 

117

 

 

261

 

 

(407

)

 

33

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

332

 

 

791

 

 

1,922

 

 

(407

)

 

2,638

 

Cost of goods sold

 

 

270

 

 

598

 

 

1,701

 

 

(405

)

 

2,164

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

62

 

 

193

 

 

221

 

 

(2

)

 

474

 

Selling, general and administrative

 

 

44

 

 

37

 

 

150

 

 

 

 

231

 

Research and development

 

 

13

 

 

11

 

 

17

 

 

 

 

41

 

Other operating expense (income)

 

 

14

 

 

(10

)

 

13

 

 

 

 

17

 

Restructuring, impairment and plant closing costs

 

 

3

 

 

1

 

 

10

 

 

 

 

14

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating (loss) income

 

 

(12

)

 

154

 

 

31

 

 

(2

)

 

171

 

Interest (expense) income

 

 

(55

)

 

9

 

 

(5

)

 

 

 

(51

)

Equity in income (loss) of investment in affiliates and subsidiaries

 

 

101

 

 

(7

)

 

 

 

(94

)

 

 

Loss on early extinguishment of debt

 

 

(8

)

 

 

 

 

 

 

 

(8

)

Other income (loss)

 

 

1

 

 

(1

)

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations before income taxes

 

 

27

 

 

155

 

 

26

 

 

(96

)

 

112

 

Income tax benefit (expense)

 

 

29

 

 

(49

)

 

(28

)

 

 

 

(48

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations

 

 

56

 

 

106

 

 

(2

)

 

(96

)

 

64

 

Loss from discontinued operations, net of tax

 

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

 

56

 

 

106

 

 

(2

)

 

(96

)

 

64

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(5

)

 

(3

)

 

(8

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Huntsman International LLC

 

$

56

 

$

106

 

$

(7

)

$

(99

)

$

56

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

$

56

 

$

106

 

$

(2

)

$

(96

)

$

64

 

Other comprehensive loss

 

 

(84

)

 

(137

)

 

(93

)

 

228

 

 

(86

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(3

)

 

(3

)

 

(6

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive loss attributable to Huntsman International LLC

 

$

(28

)

$

(31

)

$

(98

)

$

129

 

$

(28

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

THREE MONTHS ENDED SEPTEMBER 30, 2014
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

336

 

$

772

 

$

1,711

 

$

 

$

2,819

 

Related party sales

 

 

66

 

 

123

 

 

341

 

 

(465

)

 

65

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

402

 

 

895

 

 

2,052

 

 

(465

)

 

2,884

 

Cost of goods sold

 

 

323

 

 

700

 

 

1,813

 

 

(468

)

 

2,368

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

79

 

 

195

 

 

239

 

 

3

 

 

516

 

Selling, general and administrative

 

 

43

 

 

32

 

 

151

 

 

 

 

226

 

Research and development

 

 

12

 

 

11

 

 

17

 

 

 

 

40

 

Other operating (income) expense

 

 

(3

)

 

1

 

 

9

 

 

 

 

7

 

Restructuring, impairment and plant closing costs

 

 

3

 

 

3

 

 

33

 

 

 

 

39

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income

 

 

24

 

 

148

 

 

29

 

 

3

 

 

204

 

Interest (expense) income

 

 

(49

)

 

9

 

 

(12

)

 

 

 

(52

)

Equity in income of investment in affiliates and subsidiaries

 

 

107

 

 

 

 

2

 

 

(107

)

 

2

 

Other income

 

 

 

 

 

 

 

 

(1

)

 

(1

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations before income taxes

 

 

82

 

 

157

 

 

19

 

 

(105

)

 

153

 

Income tax benefit (expense)

 

 

116

 

 

(54

)

 

(11

)

 

 

 

51

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations

 

 

198

 

 

103

 

 

8

 

 

(105

)

 

204

 

Loss from discontinued operations, net of tax

 

 

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

 

198

 

 

103

 

 

8

 

 

(105

)

 

204

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(5

)

 

(1

)

 

(6

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income attributable to Huntsman International LLC

 

$

198

 

$

103

 

$

3

 

$

(106

)

$

198

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

$

198

 

$

103

 

$

8

 

$

(105

)

$

204

 

Other comprehensive loss

 

 

(84

)

 

(91

)

 

(96

)

 

182

 

 

(89

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(1

)

 

(1

)

 

(2

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income (loss) attributable to Huntsman International LLC

 

$

114

 

$

12

 

$

(89

)

$

76

 

$

113

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

NINE MONTHS ENDED SEPTEMBER 30, 2015
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

795

 

$

1,911

 

$

5,156

 

$

 

$

7,862

 

Related party sales

 

 

201

 

 

376

 

 

818

 

 

(1,290

)

 

105

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

996

 

 

2,287

 

 

5,974

 

 

(1,290

)

 

7,967

 

Cost of goods sold

 

 

789

 

 

1,771

 

 

5,220

 

 

(1,288

)

 

6,492

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

207

 

 

516

 

 

754

 

 

(2

)

 

1,475

 

Selling, general and administrative

 

 

128

 

 

133

 

 

462

 

 

 

 

723

 

Research and development

 

 

35

 

 

33

 

 

56

 

 

 

 

124

 

Other operating (income) expense

 

 

(15

)

 

(20

)

 

43

 

 

 

 

8

 

Restructuring, impairment and plant closing costs

 

 

4

 

 

5

 

 

212

 

 

 

 

221

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income (loss)

 

 

55

 

 

365

 

 

(19

)

 

(2

)

 

399

 

Interest (expense) income

 

 

(168

)

 

25

 

 

(22

)

 

 

 

(165

)

Equity in income (loss) of investment in affiliates and subsidiaries

 

 

199

 

 

(46

)

 

5

 

 

(153

)

 

5

 

Loss on early extinguishment of debt

 

 

(31

)

 

 

 

 

 

 

 

(31

)

Other income (loss)

 

 

2

 

 

(9

)

 

7

 

 

(1

)

 

(1

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations before income taxes

 

 

57

 

 

335

 

 

(29

)

 

(156

)

 

207

 

Income tax benefit (expense)

 

 

35

 

 

(121

)

 

1

 

 

 

 

(85

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations

 

 

92

 

 

214

 

 

(28

)

 

(156

)

 

122

 

Loss from discontinued operations, net of tax

 

 

(2

)

 

(1

)

 

(1

)

 

 

 

(4

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

 

90

 

 

213

 

 

(29

)

 

(156

)

 

118

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(18

)

 

(10

)

 

(28

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Huntsman International LLC

 

$

90

 

$

213

 

$

(47

)

$

(166

)

$

90

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

$

90

 

$

213

 

$

(29

)

$

(156

)

$

118

 

Other comprehensive (loss) income

 

 

(187

)

 

45

 

 

(208

)

 

156

 

 

(194

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(10

)

 

(11

)

 

(21

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive (loss) income attributable to Huntsman International LLC

 

$

(97

)

$

258

 

$

(247

)

$

(11

)

$

(97

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​