Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL (Tables)

v2.4.1.9
CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL (Tables) (Huntsman International)
12 Months Ended
Dec. 31, 2014
Huntsman International
 
Condensed consolidated financial information  
CONDENSED CONSOLIDATING BALANCE SHEETS

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
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

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2013
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

308

 

$

 

$

207

 

$

 

$

515

 

Restricted cash

 

 

 

 

 

 

9

 

 

 

 

9

 

Accounts and notes receivable, net

 

 

28

 

 

130

 

 

1,384

 

 

 

 

1,542

 

Accounts receivable from affiliates

 

 

2,386

 

 

4,823

 

 

140

 

 

(7,024

)

 

325

 

Inventories

 

 

112

 

 

297

 

 

1,339

 

 

(7

)

 

1,741

 

Prepaid expenses

 

 

70

 

 

64

 

 

47

 

 

(120

)

 

61

 

Deferred income taxes

 

 

12

 

 

 

 

59

 

 

(18

)

 

53

 

Other current assets

 

 

379

 

 

4

 

 

199

 

 

(382

)

 

200

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current assets

 

 

3,295

 

 

5,318

 

 

3,384

 

 

(7,551

)

 

4,446

 

Property, plant and equipment, net

 

 

390

 

 

954

 

 

2,414

 

 

1

 

 

3,759

 

Investment in unconsolidated affiliates

 

 

5,393

 

 

1,178

 

 

178

 

 

(6,464

)

 

285

 

Intangible assets, net

 

 

48

 

 

1

 

 

39

 

 

 

 

88

 

Goodwill

 

 

(17

)

 

82

 

 

66

 

 

 

 

131

 

Deferred income taxes

 

 

323

 

 

 

 

239

 

 

(319

)

 

243

 

Notes receivable from affiliates

 

 

22

 

 

658

 

 

 

 

(680

)

 

 

Other noncurrent assets

 

 

67

 

 

172

 

 

221

 

 

(1

)

 

459

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total assets

 

$

9,521

 

$

8,363

 

$

6,541

 

$

(15,014

)

$

9,411

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

50

 

$

267

 

$

750

 

$

 

$

1,067

 

Accounts payable to affiliates

 

 

3,655

 

 

1,476

 

 

1,946

 

 

(7,024

)

 

53

 

Accrued liabilities

 

 

138

 

 

517

 

 

590

 

 

(503

)

 

742

 

Deferred income taxes

 

 

 

 

57

 

 

8

 

 

(21

)

 

44

 

Note payable to affiliate

 

 

100

 

 

 

 

 

 

 

 

100

 

Current portion of debt

 

 

28

 

 

 

 

249

 

 

 

 

277

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current liabilities

 

 

3,971

 

 

2,317

 

 

3,543

 

 

(7,548

)

 

2,283

 

Long-term debt

 

 

3,290

 

 

 

 

343

 

 

 

 

3,633

 

Notes payable to affiliates

 

 

772

 

 

 

 

687

 

 

(680

)

 

779

 

Deferred income taxes

 

 

25

 

 

200

 

 

39

 

 

39

 

 

303

 

Other noncurrent liabilities

 

 

137

 

 

140

 

 

661

 

 

 

 

938

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities

 

 

8,195

 

 

2,657

 

 

5,273

 

 

(8,189

)

 

7,936

 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huntsman International LLC members' equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members' equity

 

 

3,138

 

 

4,354

 

 

2,215

 

 

(6,569

)

 

3,138

 

Accumulated deficit

 

 

(1,194

)

 

66

 

 

(450

)

 

384

 

 

(1,194

)

Accumulated other comprehensive (loss) income

 

 

(618

)

 

1,286

 

 

(645

)

 

(641

)

 

(618

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total Huntsman International LLC members' equity

 

 

1,326

 

 

5,706

 

 

1,120

 

 

(6,826

)

 

1,326

 

Noncontrolling interests in subsidiaries

 

 

 

 

 

 

148

 

 

1

 

 

149

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total equity

 

 

1,326

 

 

5,706

 

 

1,268

 

 

(6,825

)

 

1,475

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities and equity

 

$

9,521

 

$

8,363

 

$

6,541

 

$

(15,014

)

$

9,411

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2014
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

1,194

 

$

3,164

 

$

6,959

 

$

 

$

11,317

 

Related party sales

 

 

299

 

 

511

 

 

1,377

 

 

(1,926

)

 

261

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

1,493

 

 

3,675

 

 

8,336

 

 

(1,926

)

 

11,578

 

Cost of goods sold

 

 

1,222

 

 

2,909

 

 

7,451

 

 

(1,931

)

 

9,651

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

271

 

 

766

 

 

885

 

 

5

 

 

1,927

 

Selling, general and administrative

 

 

164

 

 

163

 

 

642

 

 

 

 

969

 

Research and development

 

 

48

 

 

40

 

 

70

 

 

 

 

158

 

Other operating (income) expense

 

 

(7

)

 

(8

)

 

11

 

 

 

 

(4

)

Restructuring, impairment and plant closing costs

 

 

7

 

 

5

 

 

146

 

 

 

 

158

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income

 

 

59

 

 

566

 

 

16

 

 

5

 

 

646

 

Interest (expense) income

 

 

(204

)

 

37

 

 

(47

)

 

 

 

(214

)

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

 

 

186

 

 

(51

)

 

6

 

 

(135

)

 

6

 

Loss on early extinguishment of debt

 

 

(28

)

 

 

 

 

 

 

 

(28

)

Other income (loss)

 

 

3

 

 

(5

)

 

3

 

 

(2

)

 

(1

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations before income taxes

 

 

16

 

 

547

 

 

(22

)

 

(132

)

 

409

 

Income tax benefit (expense)

 

 

318

 

 

(202

)

 

(2

)

 

(157

)

 

(43

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations

 

 

334

 

 

345

 

 

(24

)

 

(289

)

 

366

 

Income (loss) from discontinued operations, net of tax

 

 

1

 

 

 

 

(10

)

 

 

 

(9

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

 

335

 

 

345

 

 

(34

)

 

(289

)

 

357

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(18

)

 

(4

)

 

(22

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Huntsman International LLC

 

$

335

 

$

345

 

$

(52

)

$

(293

)

$

335

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

$

335

 

$

345

 

$

(34

)

$

(289

)

$

357

 

Other comprehensive (loss) income

 

 

(469

)

 

115

 

 

(440

)

 

310

 

 

(484

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(8

)

 

1

 

 

(7

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive (loss) income attributable to Huntsman International LLC

 

$

(134

)

$

460

 

$

(482

)

$

22

 

$

(134

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2013
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

1,039

 

$

3,193

 

$

6,615

 

$

 

$

10,847

 

Related party sales

 

 

315

 

 

470

 

 

1,277

 

 

(1,830

)

 

232

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

1,354

 

 

3,663

 

 

7,892

 

 

(1,830

)

 

11,079

 

Cost of goods sold

 

 

1,097

 

 

2,904

 

 

7,137

 

 

(1,829

)

 

9,309

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

257

 

 

759

 

 

755

 

 

(1

)

 

1,770

 

Selling, general and administrative

 

 

168

 

 

131

 

 

637

 

 

 

 

936

 

Research and development

 

 

51

 

 

38

 

 

51

 

 

 

 

140

 

Other operating (income) expense

 

 

(6

)

 

(10

)

 

26

 

 

 

 

10

 

Restructuring, impairment and plant closing costs

 

 

13

 

 

15

 

 

123

 

 

 

 

151

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income (loss)

 

 

31

 

 

585

 

 

(82

)

 

(1

)

 

533

 

Interest (expense) income, net

 

 

(185

)

 

43

 

 

(61

)

 

 

 

(203

)

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

 

 

118

 

 

(134

)

 

8

 

 

16

 

 

8

 

Loss on early extinguishment of debt

 

 

(51

)

 

 

 

 

 

 

 

(51

)

Other income

 

 

2

 

 

 

 

2

 

 

(2

)

 

2

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Loss (income) from continuing operations before income taxes

 

 

(85

)

 

494

 

 

(133

)

 

13

 

 

289

 

Income tax benefit (expense)

 

 

210

 

 

(200

)

 

26

 

 

(173

)

 

(137

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) from continuing operations

 

 

125

 

 

294

 

 

(107

)

 

(160

)

 

152

 

Income (loss) from discontinued operations, net of tax

 

 

1

 

 

(1

)

 

(5

)

 

 

 

(5

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

 

126

 

 

293

 

 

(112

)

 

(160

)

 

147

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(22

)

 

1

 

 

(21

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Huntsman International LLC

 

$

126

 

$

293

 

$

(134

)

$

(159

)

$

126

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss)

 

$

126

 

$

293

 

$

(112

)

$

(160

)

$

147

 

Other comprehensive income

 

 

173

 

 

34

 

 

48

 

 

(77

)

 

178

 

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(23

)

 

(3

)

 

(26

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income (loss) attributable to Huntsman International LLC

 

$

299

 

$

327

 

$

(87

)

$

(240

)

$

299

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
AND COMPREHENSIVE (LOSS) INCOME
YEAR ENDED DECEMBER 31, 2012
(In Millions)

                                                                                                                                                                                    

 

 

Parent
Company

 

Guarantors

 

Nonguarantors

 

Eliminations

 

Consolidated
Huntsman
International
LLC

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade sales, services and fees, net

 

$

932

 

$

3,443

 

$

6,589

 

$

 

$

10,964

 

Related party sales

 

 

745

 

 

447

 

 

1,161

 

 

(2,130

)

 

223

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total revenues

 

 

1,677

 

 

3,890

 

 

7,750

 

 

(2,130

)

 

11,187

 

Cost of goods sold

 

 

1,424

 

 

3,003

 

 

6,849

 

 

(2,130

)

 

9,146

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Gross profit

 

 

253

 

 

887

 

 

901

 

 

 

 

2,041

 

Selling, general and administrative

 

 

191

 

 

120

 

 

623

 

 

 

 

934

 

Research and development

 

 

47

 

 

36

 

 

69

 

 

 

 

152

 

Other operating (income) expense

 

 

(5

)

 

2

 

 

(3

)

 

 

 

(6

)

Restructuring, impairment and plant closing costs

 

 

4

 

 

7

 

 

81

 

 

 

 

92

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income

 

 

16

 

 

722

 

 

131

 

 

 

 

869

 

Interest (expense) income, net

 

 

(207

)

 

42

 

 

(73

)

 

 

 

(238

)

Equity in income of investment in affiliates and subsidiaries

 

 

503

 

 

40

 

 

9

 

 

(545

)

 

7

 

Loss on early extinguishment of debt

 

 

(80

)

 

 

 

 

 

 

 

(80

)

Other (expense) income

 

 

(12

)

 

14

 

 

(1

)

 

 

 

1

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations before income taxes

 

 

220

 

 

818

 

 

66

 

 

(545

)

 

559

 

Income tax benefit (expense)

 

 

141

 

 

(243

)

 

1

 

 

(78

)

 

(179

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income from continuing operations

 

 

361

 

 

575

 

 

67

 

 

(623

)

 

380

 

Income (loss) from discontinued operations, net of tax

 

 

4

 

 

1

 

 

(12

)

 

 

 

(7

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income before extraordinary gain

 

 

365

 

 

576

 

 

55

 

 

(623

)

 

373

 

Extraordinary gain on the acquisition of a business, net of tax of nil

 

 

 

 

 

 

2

 

 

 

 

2

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

 

365

 

 

576

 

 

57

 

 

(623

)

 

375

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

(16

)

 

6

 

 

(10

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income attributable to Huntsman International LLC

 

$

365

 

$

576

 

$

41

 

$

(617

)

$

365

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income

 

$

365

 

$

576

 

$

57

 

$

(623

)

$

375

 

Other comprehensive loss

 

 

(180

)

 

(250

)

 

(148

)

 

397

 

 

(181

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

 

(16

)

 

7

 

 

(9

)

​