Segment Reporting Disclosure [Text Block] | 26. We derive our revenues, earnings and cash flows from the manufacture and sale of a wide variety of diversified organic chemical products. We have three The major products of each reportable operating segment are as follows: Segment Products Polyurethanes MDI, polyols, TPU and other polyurethane-related products Performance Products Performance amines, ethyleneamines and maleic anhydride Advanced Materials Technologically-advanced epoxy, phenoxy, acrylic, polyurethane and acrylonitrile-butadiene-based polymer formulations; high performance thermoset resins, curing agents, toughening agents, and carbon nanomaterials Sales between segments are generally recognized at external market prices and are eliminated in consolidation. We use adjusted EBITDA to measure the financial performance of our global business units and for reporting the results of our operating segments. This measure includes all operating items relating to the businesses. The adjusted EBITDA of operating segments excludes items that principally apply to our Company as a whole. The following schedules include revenues, significant segment expenses and adjusted EBITDA for each of our reportable operating segments (dollars in millions). Huntsman Corporation Year ended December 31, 2024 Polyurethanes Performance Products Advanced Materials Total Revenues: Reportable segments’ revenues (1) $ 3,900 $ 1,109 $ 1,055 $ 6,064 Significant segment expenses: Variable direct costs (2) 2,943 618 499 4,060 Adjusted fixed costs (3) 744 328 390 1,462 Other segment items (4) (32 ) 10 (13 ) (35 ) Total reportable segments’ adjusted EBITDA (5) $ 245 $ 153 $ 179 577 Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: Interest expense, net—continuing operations (79 ) Depreciation and amortization—continuing operations (289 ) Corporate and other costs, net (6) (163 ) Net income attributable to noncontrolling interests 62 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments, net (21 ) Fair value adjustments to Venator investment, net and other tax matter adjustments 12 Certain legal and other settlements and related expenses (7) (13 ) Loss on sale of business/assets (1 ) Loss on dissolution of subsidiaries (8) (39 ) Amortization of pension and postretirement actuarial losses (39 ) Restructuring, impairment and plant closing and transition costs (9) (46 ) Loss from continuing operations before income taxes (39 ) Income tax expense—continuing operations (61 ) Loss from discontinued operations, net of tax (27 ) Net loss $ (127 ) Year ended December 31, 2023 Polyurethanes Performance Products Advanced Materials Total Revenues: Reportable segments’ revenues (1) $ 3,865 $ 1,178 $ 1,092 $ 6,135 Significant segment expenses: Variable direct costs (2) 2,904 647 546 4,097 Adjusted fixed costs (3) 787 329 370 1,486 Other segment items (4) (74 ) 1 (10 ) (83 ) Total reportable segments’ adjusted EBITDA (5) $ 248 $ 201 $ 186 635 Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes: Interest expense, net—continuing operations (65 ) Depreciation and amortization—continuing operations (278 ) Corporate and other costs, net (6) (163 ) Net income attributable to noncontrolling interests 52 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments, net (4 ) Fair value adjustments to Venator investment, net (5 ) Certain legal and other settlements and related expenses (6 ) Certain nonrecurring information technology project implementation costs (5 ) Amortization of pension and postretirement actuarial losses (37 ) Restructuring, impairment and plant closing and transition costs (9) (25 ) Income from continuing operations before income taxes 99 Income tax expense—continuing operations (64 ) Income from discontinued operations, net of tax 118 Net income $ 153 Year ended December 31, 2022 Polyurethanes Performance Products Advanced Materials Total Revenues: Reportable segments’ revenues (1) $ 5,067 $ 1,713 $ 1,277 $ 8,057 Significant segment expenses: Variable direct costs (2) 3,718 907 686 5,311 Adjusted fixed costs (3) 821 348 382 1,551 Other segment items (4) (100 ) (11 ) (24 ) (135 ) Total reportable segments’ adjusted EBITDA (5) $ 628 $ 469 $ 233 1,330 Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes: Interest expense, net—continuing operations (62 ) Depreciation and amortization—continuing operations (281 ) Corporate and other costs, net (6) (175 ) Net income attributable to noncontrolling interests 63 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments, net (12 ) Fair value adjustments to Venator investment, net (12 ) Certain legal and other settlements and related expenses (7 ) Costs associated with the Albemarle Settlement, net (3 ) Income from transition services arrangements 2 Certain nonrecurring information technology project implementation costs (5 ) Amortization of pension and postretirement actuarial losses (49 ) Plant incident remediation credits 4 Restructuring, impairment and plant closing and transition costs (9) (96 ) Income from continuing operations before income taxes 697 Income tax expense—continuing operations (186 ) Income from discontinued operations, net of tax 12 Net income $ 523 Huntsman International Year ended December 31, 2024 Polyurethanes Performance Products Advanced Materials Total Revenues: Reportable segments’ revenues (1) $ 3,900 1,109 $ 1,055 $ 6,064 Significant segment expenses: Variable direct costs (2) 2,943 618 499 4,060 Adjusted fixed costs (3) 744 328 390 1,462 Other segment items (4) (32 ) 10 (13 ) (35 ) Total reportable segments’ adjusted EBITDA (5) $ 245 $ 153 $ 179 577 Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: Interest expense, net—continuing operations (79 ) Depreciation and amortization—continuing operations (289 ) Corporate and other costs, net (6) (160 ) Net income attributable to noncontrolling interests 62 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments, net (21 ) Fair value adjustments to Venator investment, net and other tax matter adjustments 12 Certain legal and other settlements and related expenses (7) (13 ) Loss on sale of business/assets (1 ) Loss on dissolution of subsidiaries (8) (39 ) Amortization of pension and postretirement actuarial losses (39 ) Restructuring, impairment and plant closing and transition costs (9) (46 ) Loss from continuing operations before income taxes (36 ) Income tax expense—continuing operations (62 ) Loss from discontinued operations, net of tax (27 ) Net loss $ (125 ) Year ended December 31, 2023 Polyurethanes Performance Products Advanced Materials Total Revenues: Reportable segments’ revenues (1) $ 3,865 $ 1,178 $ 1,092 $ 6,135 Significant segment expenses: Variable direct costs (2) 2,904 647 546 4,097 Adjusted fixed costs (3) 787 329 370 1,486 Other segment items (4) (74 ) 1 (10 ) (83 ) Total reportable segments’ adjusted EBITDA (5) $ 248 $ 201 $ 186 635 Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes: Interest expense, net—continuing operations (65 ) Depreciation and amortization—continuing operations (278 ) Corporate and other costs, net (6) (160 ) Net income attributable to noncontrolling interests 52 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments, net (4 ) Fair value adjustments to Venator investment, net (5 ) Certain legal and other settlements and related expenses (6 ) Certain nonrecurring information technology project implementation costs (5 ) Amortization of pension and postretirement actuarial losses (37 ) Restructuring, impairment and plant closing and transition costs (9) (25 ) Income from continuing operations before income taxes 102 Income tax expense—continuing operations (65 ) Income from discontinued operations, net of tax 118 Net income $ 155 Year ended December 31, 2022 Polyurethanes Performance Products Advanced Materials Total Revenues: Reportable segments’ revenues (1) $ 5,067 $ 1,713 $ 1,277 $ 8,057 Significant segment expenses: Variable direct costs (2) 3,718 907 686 5,311 Adjusted fixed costs (3) 821 348 382 1,551 Other segment items (4) (100 ) (11 ) (24 ) (135 ) Total reportable segments’ adjusted EBITDA (5) $ 628 $ 469 $ 233 1,330 Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes: Interest expense, net—continuing operations (62 ) Depreciation and amortization—continuing operations (281 ) Corporate and other costs, net (6) (172 ) Net income attributable to noncontrolling interests 63 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments, net (12 ) Fair value adjustments to Venator investment, net (12 ) Certain legal and other settlements and related expenses (7 ) Costs associated with the Albemarle Settlement, net (3 ) Income from transition services arrangements 2 Certain nonrecurring information technology project implementation costs (5 ) Amortization of pension and postretirement actuarial losses (49 ) Plant incident remediation credits 4 Restructuring, impairment and plant closing and transition costs (9) (96 ) Income from continuing operations before income taxes 700 Income tax expense—continuing operations (188 ) Income from discontinued operations, net of tax 12 Net income $ 524 Huntsman Corporation Huntsman International December 31, December 31, 2024 2023 2024 2023 Total assets: Polyurethanes $ 4,151 $ 4,261 $ 4,151 $ 4,261 Performance Products 1,214 1,170 1,214 1,170 Advanced Materials 1,097 1,143 1,097 1,143 Total reportable segments’ total assets 6,462 6,574 6,462 6,574 Corporate and other 652 674 652 679 Total $ 7,114 $ 7,248 $ 7,114 $ 7,253 Year ended December 31, 2024 2023 2022 Depreciation and amortization: Polyurethanes $ 161 $ 141 $ 136 Performance Products 67 72 72 Advanced Materials 52 53 57 Total reportable segments’ depreciation and amortization 280 266 265 Corporate and other 9 12 16 Total $ 289 $ 278 $ 281 Year ended December 31, 2024 2023 2022 Capital expenditures: Polyurethanes $ 78 $ 98 $ 142 Performance Products 85 100 92 Advanced Materials 17 25 26 Total reportable segments’ capital expenditures 180 223 260 Corporate and other 4 7 12 Total $ 184 $ 230 $ 272 December 31, 2024 2023 Goodwill: Polyurethanes $ 328 $ 338 Performance Products 15 16 Advanced Materials 290 290 Total $ 633 $ 644 ( 1 A reconciliation of total reportable segments’ revenues to total consolidated revenues is provided in “Note 17. ( 2 Variable direct costs primarily include raw materials, utilities and freight-related costs. ( 3 Adjusted fixed costs primarily include personnel and maintenance costs at our manufacturing facilities, selling, general and administrative expenses and research and development expenses, less depreciation and amortization and certain of the adjustments noted in footnote ( 5 ( 4 Other segment items include other operating and non-operating income and expense items and foreign currency exchange effects, less certain of the adjustments noted in footnote ( 5 ( 5 We use segment adjusted EBITDA as the measure of each segment’s profit or loss. We believe that segment adjusted EBITDA more accurately reflects what our CODM, who has been determined to be our Chief Executive Officer, uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) business acquisition and integration expenses and purchase accounting inventory adjustments, net; (b) fair value adjustments to Venator investment, net and other tax matter adjustments; (c) certain legal and other settlements and related expenses; (d) loss on sale of business/assets; (e) loss on dissolution of subsidiaries; (f) amortization of pension and postretirement actuarial losses; (g) restructuring, impairment, plant closing and transition costs; (h) (loss) income from discontinued operations, net of tax; (i) certain nonrecurring information technology project implementation costs; (j) costs associated with the Albemarle Settlement, net; (k) income from transition services arrangements; and (l) plant incident remediation credits. ( 6 Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets. ( 7 Certain legal and other settlements and related expenses for the year ended December 31, 2024 $10 ( 8 Loss on dissolution of subsidiaries for the year ended December 31, 2024 ( 9 Includes costs associated with transition activities relating primarily to our Corporate program to optimize our global approach to managed services in various information technology functions and our program to realign our cost structure in Europe. Year ended December 31, 2024 2023 2022 Revenues by geographic area (1) United States $ 2,124 $ 2,140 $ 3,089 China 1,082 1,084 1,305 Germany 373 423 522 Canada 216 211 242 Italy 207 216 249 India 191 164 196 United Kingdom 156 155 193 Other nations 1,687 1,718 2,227 Total $ 6,036 $ 6,111 $ 8,023 December 31, 2024 2023 Long-lived assets (2) United States $ 1,188 $ 1,216 China 399 200 The Netherlands 315 321 Hungary 118 108 Saudi Arabia 102 112 Germany 82 92 Switzerland 67 76 United Kingdom 60 64 Singapore 59 66 Other nations 103 121 Total $ 2,493 $ 2,376 ( 1 Geographic information for revenues is based upon countries into which product is sold. ( 2 Long-lived assets consist of property, plant and equipment, net. |