Huntsman (HUN) 10-K 16 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 08, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	Huntsman CORP
Entity Central Index Key	1,307,954
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4,388,665,516
Entity Common Stock, Shares Outstanding		236,876,318
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	[1]	$ 257	$ 860
Restricted cash	[1]	12	10
Accounts and notes receivable (net of allowance for doubtful accounts of $26 and $34, respectively), ($438 and $472 pledged as collateral, respectively)	[1]	1,420	1,665
Accounts receivable from affiliates		29	42
Inventories	[1]	1,692	2,025
Prepaid expenses		112	62
Deferred income taxes			62
Other current assets	[1]	312	313
Total current assets		3,834	5,039
Property, plant and equipment, net	[1]	4,446	4,423
Investment in unconsolidated affiliates		347	350
Intangible assets, net	[1]	86	95
Goodwill		116	122
Deferred income taxes		418	435
Other noncurrent assets	[1]	573	459
Total assets		9,820	10,923
Current liabilities:
Accounts payable	[1]	1,034	1,218
Accounts payable to affiliates		27	57
Accrued liabilities	[1]	686	739
Deferred income taxes			51
Current portion of debt	[1]	170	267
Total current liabilities		1,917	2,332
Long-term debt	[1]	4,625	4,854
Notes payable to affiliates		1	6
Deferred income taxes		422	333
Other noncurrent liabilities	[1]	1,226	1,447
Total liabilities		$ 8,191	$ 8,972
Commitments and contingencies (Notes 19 and 20)
Huntsman Corporation stockholders' equity or Huntsman International LLC members' equity:
Common stock $0.01 par value, 1,200,000,000 shares authorized, 249,483,541 and 248,893,036 issued and 237,080,026 and 243,416,979 outstanding in 2015 and 2014, respectively		$ 3	$ 3
Additional paid-in capital		3,407	3,385
Treasury stock, 11,162,454 and 4,043,526 shares in 2015 and 2014, respectively		(135)	(50)
Unearned stock-based compensation		(17)	(14)
Accumulated deficit		(528)	(493)
Accumulated other comprehensive loss		(1,288)	(1,053)
Total Huntsman Corporation stockholders' equity		1,442	1,778
Noncontrolling interests in subsidiaries		187	173
Total equity		1,629	1,951
Total liabilities and equity		9,820	10,923
Huntsman International
Current assets:
Cash and cash equivalents	[1]	257	710
Restricted cash	[1]	12	10
Accounts and notes receivable (net of allowance for doubtful accounts of $26 and $34, respectively), ($438 and $472 pledged as collateral, respectively)	[1]	1,420	1,665
Accounts receivable from affiliates		340	346
Inventories	[1]	1,692	2,025
Prepaid expenses		111	61
Deferred income taxes			62
Other current assets	[1]	306	306
Total current assets		4,138	5,185
Property, plant and equipment, net	[1]	4,410	4,375
Investment in unconsolidated affiliates		347	350
Intangible assets, net	[1]	86	96
Goodwill		116	122
Deferred income taxes		418	435
Other noncurrent assets	[1]	573	459
Total assets		10,088	11,022
Current liabilities:
Accounts payable	[1]	1,034	1,218
Accounts payable to affiliates		52	74
Accrued liabilities	[1]	683	736
Deferred income taxes			52
Notes payable to affiliates		100	100
Current portion of debt		170	267
Total current liabilities		2,039	2,447
Long-term debt	[1]	4,625	4,854
Notes payable to affiliates		698	656
Deferred income taxes		418	326
Other noncurrent liabilities	[1]	1,224	1,443
Total liabilities		$ 9,004	$ 9,726
Commitments and contingencies (Notes 19 and 20)
Huntsman Corporation stockholders' equity or Huntsman International LLC members' equity:
Members' equity, 2,728 units issued and outstanding		$ 3,196	$ 3,166
Accumulated deficit		(983)	(956)
Accumulated other comprehensive loss		(1,316)	(1,087)
Total Huntsman International LLC members' equity		897	1,123
Noncontrolling interests in subsidiaries		187	173
Total equity		1,084	1,296
Total liabilities and equity		$ 10,088	$ 11,022
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2015	Dec. 31, 2014
Accounts and notes receivable, allowance for doubtful accounts (in dollars)		$ 26	$ 34
Accounts and notes receivable, pledged as collateral (in dollars)		$ 438	$ 472
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized		1,200,000,000	1,200,000,000
Common stock, shares issued		249,483,541	248,893,036
Common stock, shares outstanding		237,080,026	243,416,979
Treasury stock, shares		11,162,454	4,043,526
Variable Interest Entity
Cash and cash equivalents	[1]	$ 257	$ 860
Restricted cash	[1]	12	10
Accounts and notes receivable (net)	[1]	1,420	1,665
Inventories	[1]	1,692	2,025
Other current assets	[1]	312	313
Property, plant and equipment (net)	[1]	4,446	4,423
Intangible assets (net)	[1]	86	95
Other noncurrent assets	[1]	573	459
Accounts payable	[1]	1,034	1,218
Accrued liabilities	[1]	686	739
Current portion of debt	[1]	170	267
Long-term debt	[1]	4,625	4,854
Other noncurrent liabilities	[1]	1,226	1,447
Consolidated VIE's
Variable Interest Entity
Cash and cash equivalents		34	46
Restricted cash		12	10
Accounts and notes receivable (net)		26	41
Inventories		54	68
Other current assets		5	6
Property, plant and equipment (net)		307	339
Intangible assets (net)		36	40
Other noncurrent assets		38	27
Accounts payable		82	92
Accrued liabilities		27	37
Current portion of debt		15	172
Long-term debt		137	36
Other noncurrent liabilities		54	97
Huntsman International
Accounts and notes receivable, allowance for doubtful accounts (in dollars)		26	34
Accounts and notes receivable, pledged as collateral (in dollars)		$ 438	$ 472
Members' equity, units issued (in units)		2,728	2,728
Members' equity, units outstanding (in units)		2,728	2,728
Variable Interest Entity
Cash and cash equivalents	[1]	$ 257	$ 710
Restricted cash	[1]	12	10
Accounts and notes receivable (net)	[1]	1,420	1,665
Inventories	[1]	1,692	2,025
Other current assets	[1]	306	306
Property, plant and equipment (net)	[1]	4,410	4,375
Intangible assets (net)	[1]	86	96
Other noncurrent assets	[1]	573	459
Accounts payable	[1]	1,034	1,218
Accrued liabilities	[1]	683	736
Current portion of debt		170	267
Long-term debt	[1]	4,625	4,854
Other noncurrent liabilities	[1]	1,224	1,443
Huntsman International | Consolidated VIE's
Variable Interest Entity
Cash and cash equivalents		34	46
Restricted cash		12	10
Accounts and notes receivable (net)		26	41
Inventories		54	68
Other current assets		5	6
Property, plant and equipment (net)		307	339
Intangible assets (net)		36	40
Other noncurrent assets		38	27
Accounts payable		82	92
Accrued liabilities		27	37
Current portion of debt		15	172
Long-term debt		137	36
Other noncurrent liabilities		$ 54	$ 97
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Trade sales, services and fees, net	$ 10,168	$ 11,317	$ 10,847
Related party sales	131	261	232
Total revenues	10,299	11,578	11,079
Cost of goods sold	8,451	9,659	9,326
Gross profit	1,848	1,919	1,753
Operating expenses:
Selling, general and administrative	982	974	942
Research and development	160	158	140
Other operating (income) expense	(1)	(4)	10
Restructuring, impairment and plant closing costs	302	158	151
Total expenses	1,443	1,286	1,243
Operating income (loss)	405	633	510
Interest expense	(205)	(205)	(190)
Equity in income of investment in unconsolidated affiliates	6	6	8
Loss on early extinguishment of debt	(31)	(28)	(51)
Other income (loss)	1	(2)	2
(Loss) income from continuing operations before income taxes	176	404	279
Income tax expense	(46)	(51)	(125)
Income (loss) from continuing operations	130	353	154
Loss from discontinued operations, net of tax	(4)	(8)	(5)
Net income (loss)	126	345	149
Net income attributable to noncontrolling interests	(33)	(22)	(21)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	$ 93	$ 323	$ 128
Basic income (loss) per share:
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.40	$ 1.36	$ 0.55
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)	(0.02)	(0.03)	(0.02)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.38	$ 1.33	$ 0.53
Weighted average shares (in shares)	242.8	242.1	239.7
Diluted income (loss) per share:
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.40	$ 1.34	$ 0.55
Loss from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share)	(0.02)	(0.03)	(0.02)
Net income attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.38	$ 1.31	$ 0.53
Weighted average shares (in shares)	245.4	246	242.4
Amounts attributable to Huntsman Corporation common stockholders:
Income from continuing operations	$ 97	$ 331	$ 133
Loss from discontinued operations, net of tax	(4)	(8)	(5)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	$ 93	$ 323	$ 128
Dividends per share (in dollars per share)	$ 0.50	$ 0.50	$ 0.50
Huntsman International
Revenues:
Trade sales, services and fees, net	$ 10,168	$ 11,317	$ 10,847
Related party sales	131	261	232
Total revenues	10,299	11,578	11,079
Cost of goods sold	8,447	9,651	9,309
Gross profit	1,852	1,927	1,770
Operating expenses:
Selling, general and administrative	977	969	936
Research and development	160	158	140
Other operating (income) expense		(4)	10
Restructuring, impairment and plant closing costs	302	158	151
Total expenses	1,439	1,281	1,237
Operating income (loss)	413	646	533
Interest expense	(214)	(214)	(203)
Equity in income of investment in unconsolidated affiliates	6	6	8
Loss on early extinguishment of debt	(31)	(28)	(51)
Other income (loss)	2	(1)	2
(Loss) income from continuing operations before income taxes	176	409	289
Income tax expense	(45)	(43)	(137)
Income (loss) from continuing operations	131	366	152
Loss from discontinued operations, net of tax	(4)	(9)	(5)
Net income (loss)	127	357	147
Net income attributable to noncontrolling interests	(33)	(22)	(21)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	94	335	126
Amounts attributable to Huntsman Corporation common stockholders:
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	$ 94	$ 335	$ 126

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 126	$ 345	$ 149
Other comprehensive (loss) income, net of tax:
Foreign currency translations adjustments	(313)	(221)	(23)
Pension and other postretirement benefits adjustments	66	(271)	185
Other, net	7	1	10
Other comprehensive (loss) income, net of tax	(240)	(491)	172
Comprehensive (loss) income	(114)	(146)	321
Comprehensive (loss) income attributable to noncontrolling interests	(28)	(7)	(26)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC	(142)	(153)	295
Huntsman International
Net income	127	357	147
Other comprehensive (loss) income, net of tax:
Foreign currency translations adjustments	(314)	(221)	(25)
Pension and other postretirement benefits adjustments	73	(264)	193
Other, net	7	1	10
Other comprehensive (loss) income, net of tax	(234)	(484)	178
Comprehensive (loss) income	(107)	(127)	325
Comprehensive (loss) income attributable to noncontrolling interests	(28)	(7)	(26)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC	$ (135)	$ (134)	$ 299

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Huntsman InternationalMembers' equity	Huntsman InternationalAccumulated deficit	Huntsman InternationalAccumulated other comprehensive (loss) income	Huntsman InternationalNoncontrolling interests in subsidiaries	Huntsman International	Common stock	Additional paid-in capital	Treasury stock	Unearned stock-based compensation	Accumulated deficit	Accumulated other comprehensive (loss) income	Noncontrolling interests in subsidiaries	Total
Balance at the beginning of the period at Dec. 31, 2012						$ 2	$ 3,264	$ (50)	$ (12)	$ (687)	$ (744)	$ 123	$ 1,896
Balance (in shares) at Dec. 31, 2012						238,273,422
Balance at the beginning of the period at Dec. 31, 2012	$ 3,109	$ (1,224)	$ (791)	$ 123	$ 1,217
Balance (in units) at Dec. 31, 2012	2,728
Increase (Decrease) in Stockholders' Equity
Net income		126		21	147					128		21	149
Dividends paid to parent		(96)			(96)
Other comprehensive income			173	5	178						167	5	172
Contribution from parent	$ 28				28
Issuance of nonvested stock awards							14		(14)
Vesting of stock awards							5						5
Vesting of stock awards (in shares)						1,067,888
Recognition of stock-based compensation							8		13				21
Repurchase and cancellation of stock awards										(6)			(6)
Repurchase and cancellation of stock awards (in shares)						(304,209)
Stock options exercised							13						13
Stock options exercised (in shares)						1,364,341
Excess tax benefit related to stock-based compensation	1				1		1						1
Accrued and unpaid dividends										(2)			(2)
Dividends declared on common stock										(120)			(120)
Balance at the end of the period at Dec. 31, 2013						$ 2	3,305	(50)	(13)	(687)	(577)	149	2,129
Balance (in shares) at Dec. 31, 2013						240,401,442
Balance at the end of the period at Dec. 31, 2013	$ 3,138	(1,194)	(618)	149	1,475
Balance (in units) at Dec. 31, 2013	2,728
Increase (Decrease) in Stockholders' Equity
Net income		335		22	357					323		22	345
Dividends paid to parent		(97)			(97)
Other comprehensive income			(469)	(15)	(484)						(476)	(15)	(491)
Contribution from parent	$ 27				27
Issuance of nonvested stock awards							15		(15)
Vesting of stock awards							7						7
Vesting of stock awards (in shares)						1,018,050
Recognition of stock-based compensation							10		14				24
Repurchase and cancellation of stock awards										(7)			(7)
Repurchase and cancellation of stock awards (in shares)						(302,200)
Stock options exercised						$ 1	47						48
Stock options exercised (in shares)						2,299,687
Dividends paid to noncontrolling interests				(4)	(4)							(4)	(4)
Excess tax benefit related to stock-based compensation	1				1		1						1
Accrued and unpaid dividends										(1)			(1)
Cash received for a noncontrolling interest of a subsidiary				5	5							5	5
Acquisition of a business				16	16							16	16
Dividends declared on common stock										(121)			(121)
Balance at the end of the period at Dec. 31, 2014						$ 3	3,385	(50)	(14)	(493)	(1,053)	173	1,951
Balance (in shares) at Dec. 31, 2014						243,416,979
Balance at the end of the period at Dec. 31, 2014	$ 3,166	(956)	(1,087)	173	$ 1,296
Balance (in units) at Dec. 31, 2014	2,728				2,728
Increase (Decrease) in Stockholders' Equity
Net income		94		33	$ 127					93		33	126
Dividends paid to parent		(121)			(121)
Other comprehensive income			(229)	(5)	(234)						(235)	(5)	(240)
Contribution from parent	$ 29				29
Issuance of nonvested stock awards							19		(19)
Vesting of stock awards							7						7
Vesting of stock awards (in shares)						1,037,743
Recognition of stock-based compensation							10		16				26
Repurchase and cancellation of stock awards										(7)			(7)
Repurchase and cancellation of stock awards (in shares)						(304,340)
Stock options exercised							1						1
Stock options exercised (in shares)						48,572
Dividends paid to noncontrolling interests				(14)	(14)							(14)	(14)
Excess tax benefit related to stock-based compensation	1				1		1						1
Cash paid for noncontrolling interest							(1)						(1)
Treasury stock repurchased							(15)	(85)					(100)
Treasury stock repurchased (in shares)						(7,118,928)
Dividends declared on common stock										(121)			(121)
Balance at the end of the period at Dec. 31, 2015						$ 3	$ 3,407	$ (135)	$ (17)	$ (528)	$ (1,288)	$ 187	$ 1,629
Balance (in shares) at Dec. 31, 2015						237,080,026
Balance at the end of the period at Dec. 31, 2015	$ 3,196	$ (983)	$ (1,316)	$ 187	$ 1,084
Balance (in units) at Dec. 31, 2015	2,728				2,728

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Operating Activities:
Net income	$ 126		$ 345		$ 149
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (income) of subsidiaries	(6)		(6)		(8)
Depreciation and amortization	399		445		448
Provision for losses on accounts receivable	1				2
Loss on disposal of businesses/assets, net	4		4		5
Loss on early extinguishment of debt	31		28		51
Noncash interest expense	11		11		11
Noncash restructuring and impairment charges	112		37		13
Deferred income taxes	(25)		(51)		10
Noncash loss on foreign currency transactions	7		15		31
Stock-based compensation	30		28		29
Other, net	3		(2)
Changes in operating assets and liabilities, net of effects of acquisitions :
Accounts and notes receivable	121		2		(11)
Inventories	179		(20)		77
Prepaid expenses	(52)		(2)		(11)
Other current assets	(64)		(44)		23
Other noncurrent assets	(98)		(44)		(113)
Accounts payable	(157)		86		(12)
Accrued liabilities	(9)		11		(39)
Other noncurrent liabilities	(38)		(83)		53
Net cash provided by operating activities	575		760		708
Investing Activities:
Capital expenditures	(663)		(601)		(471)
Cash received from unconsolidated affiliates	48		51		71
Investment in unconsolidated affiliates	(54)		(108)		(104)
Acquisition of businesses, net of cash acquired	(14)		(960)		(66)
Cash received from purchase price adjustment for business acquired	18
Proceeds from sale of businesses/assets	1		15		2
Cash received from termination of cross-currency interest rate contracts	66
Change in restricted cash	(3)
Other, net	1		(3)		2
Net cash provided by (used in) investing activities	(600)		(1,606)		(566)
Financing Activities:
Net repayments under revolving loan facilities	(1)		(1)		(4)
Net repayments on overdraft facilities	(8)		(5)		(9)
Repayments of short-term debt			(8)		(18)
Borrowings on short-term debt	12		15		15
Repayments of long-term debt	(604)		(418)		(840)
Proceeds from issuance of long-term debt	326		1,792		979
Repayments of notes payable	(33)		(34)		(40)
Borrowings on notes payable	34		33		35
Debt issuance costs paid	(8)		(67)		(11)
Call premiums related to early extinguishment of debt	(35)		(24)		(4)
Contingent consideration paid for business acquired	(4)		(6)
Dividends paid to common stockholders	(121)		(121)		(120)
Dividends paid to noncontrolling interests	(14)		(4)
Repurchase and cancellation of stock awards	(7)		(7)		(6)
Proceeds from issuance of common stock	1		47		13
Repurchase of common stock	(100)
Excess tax benefit related to stock-based compensation	1		1		1
Other, net	(1)		4		3
Net cash (used in) provided by financing activities	(562)		1,197		(6)
Effect of exchange rate changes on cash	(16)		(11)		(3)
(Decrease) increase in cash and cash equivalents	(603)		340		133
Cash and cash equivalents at beginning of period	860	[1]	520		387
Cash and cash equivalents at end of period	257	[1]	860	[1]	520
Supplemental cash flow information:
Cash paid for interest	225		208		187
Cash paid for income taxes	126		165		78
Huntsman International
Operating Activities:
Net income	127		357		147
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in loss (income) of subsidiaries	(6)		(6)		(8)
Depreciation and amortization	387		430		424
Provision for losses on accounts receivable	1				2
Loss on disposal of businesses/assets, net	4		4		5
Loss on early extinguishment of debt	31		28		51
Noncash interest expense	20		21		23
Noncash restructuring and impairment charges	112		37		13
Deferred income taxes	(24)		(48)		56
Noncash loss on foreign currency transactions	7		15		31
Noncash compensation	29		27		28
Other, net	4		(3)
Changes in operating assets and liabilities, net of effects of acquisitions :
Accounts and notes receivable	121		2		(11)
Inventories	179		(20)		77
Prepaid expenses	(52)		(2)		(11)
Other current assets	(66)		(37)		23
Other noncurrent assets	(98)		(44)		(113)
Accounts payable	(166)		76		(24)
Accrued liabilities	(9)		(8)		(39)
Other noncurrent liabilities	(31)		(75)		60
Net cash provided by operating activities	570		754		734
Investing Activities:
Capital expenditures	(663)		(601)		(471)
Cash received from unconsolidated affiliates	48		51		71
Investment in unconsolidated affiliates	(54)		(108)		(104)
Acquisition of businesses, net of cash acquired	(14)		(960)		(66)
Cash received from purchase price adjustment for business acquired	18
Proceeds from sale of businesses/assets	1		15		2
Decrease (increase) in receivable from affiliate	1		(2)		(48)
Cash received from termination of cross-currency interest rate contracts	66
Change in restricted cash	(3)
Other, net	1		(2)		2
Net cash provided by (used in) investing activities	(599)		(1,607)		(614)
Financing Activities:
Net repayments under revolving loan facilities	(1)		(1)		(4)
Net repayments on overdraft facilities	(8)		(5)		(9)
Repayments of short-term debt			(8)		(18)
Borrowings on short-term debt	12		15		15
Repayments of long-term debt	(604)		(418)		(840)
Proceeds from issuance of long-term debt	326		1,792		979
Repayments of notes payable to affiliate	(148)		(122)
Proceeds from issuance of notes payable from affiliate	195				177
Repayments of notes payable	(33)		(34)		(40)
Borrowings on notes payable	34		33		35
Debt issuance costs paid	(8)		(67)		(11)
Call premiums related to early extinguishment of debt	(35)		(24)		(4)
Contingent consideration paid for business acquired	(4)		(6)
Dividends paid to noncontrolling interests	(14)		(4)
Dividends paid to parent	(121)		(97)		(96)
Excess tax benefit related to stock-based compensation	1		1		1
Other, net			4		3
Net cash (used in) provided by financing activities	(408)		1,059		188
Effect of exchange rate changes on cash	(16)		(11)		(3)
(Decrease) increase in cash and cash equivalents	(453)		195		305
Cash and cash equivalents at beginning of period	710	[1]	515		210
Cash and cash equivalents at end of period	257	[1]	710	[1]	515
Supplemental cash flow information:
Cash paid for interest	225		208		205
Cash paid for income taxes	$ 126		$ 165		$ 44
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Capital expenditures in accounts payable	$ 79	$ 88	$ 73
Huntsman International
Capital expenditures in accounts payable	79	88	73
Stock-based compensation	$ 29	$ 27	$ 28

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2015
GENERAL
GENERAL	1. GENERAL DEFINITIONS For convenience in this report, the terms "Company," "our" or "we" may be used to refer to Huntsman Corporation and, unless the context otherwise requires, its subsidiaries and predecessors. Any references to our "Company" "we" "us" or "our" as of a date prior to October 19, 2004 (the date of our Company's formation) are to Huntsman Holdings, LLC and its subsidiaries (including their respective predecessors). In this report, "Huntsman International" refers to Huntsman International LLC (our 100% owned subsidiary) and, unless the context otherwise requires, its subsidiaries; "HPS" refers to Huntsman Polyurethanes Shanghai Ltd. (our consolidated splitting joint venture with Shanghai Chlor-Alkali Chemical Company, Ltd); and "SLIC" refers to Shanghai Liengheng Isocyanate Company (our unconsolidated manufacturing joint venture with BASF and three Chinese chemical companies). In this report, we may use, without definition, the common names of competitors or other industry participants. We may also use the common names or abbreviations for certain chemicals or products. DESCRIPTION OF BUSINESS We are a global manufacturer of differentiated organic chemical products and of inorganic chemical products. Our products comprise a broad range of chemicals and formulations, which we market globally to a diversified group of consumer and industrial customers. Our products are used in a wide range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, durable and non-durable consumer products, electronics, medical, packaging, paints and coatings, power generation, refining, synthetic fiber, textile chemicals and dye industries. We are a leading global producer in many of our key product lines, including MDI, amines, surfactants, maleic anhydride, epoxy-based polymer formulations, textile chemicals, dyes, titanium dioxide and color pigments. We operate in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects and Pigments and Additives. Our Polyurethanes, Performance Products, Advanced Materials and Textile Effects segments produce differentiated organic chemical products and our Pigments and Additives segment produces inorganic chemical products. In a series of transactions beginning in 2006, we sold or shutdown substantially all of our Australian styrenics operations and our North American polymers and base chemicals operations. We report the results of these businesses as discontinued operations. COMPANY Our Company, a Delaware corporation, was formed in 2004 to hold the Huntsman businesses. Jon M. Huntsman founded the predecessor to our Company in 1970 as a small packaging company. Since then, we have grown through a series of acquisitions and now own a global portfolio of businesses. Currently, we operate all of our businesses through Huntsman International, our 100% owned subsidiary. Huntsman International is a Delaware limited liability company and was formed in 1999. HUNTSMAN CORPORATION AND HUNTSMAN INTERNATIONAL FINANCIAL STATEMENTS Except where otherwise indicated, these notes relate to the consolidated financial statements for both our Company and Huntsman International. The differences between our consolidated financial statements and Huntsman International's consolidated financial statements relate primarily to the following: • purchase accounting recorded at our Company for the 2003 step-acquisition of Huntsman International Holdings LLC, the former parent company of Huntsman International that was merged into Huntsman International in 2005; • the different capital structures; and • a note payable from Huntsman International to us.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ASSET RETIREMENT OBLIGATIONS We accrue for asset retirement obligations, which consist primarily of landfill capping, closure and post-closure costs, asbestos abatement costs, demolition and removal costs and leasehold remediation costs, in the period in which the obligations are incurred. Asset retirement obligations are accrued at estimated fair value. When the liability is initially recorded, we capitalize the cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its estimated settlement value and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, we will recognize a gain or loss for any difference between the settlement amount and the liability recorded. CARRYING VALUE OF LONG-LIVED ASSETS We review long-lived assets and all amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable. Recoverability is based upon current and anticipated undiscounted cash flows, and we recognize an impairment when such estimated cash flows are less than the carrying value of the asset. Measurement of the amount of impairment, if any, is based upon the difference between carrying value and fair value. Fair value is generally estimated by discounting estimated future cash flows using a discount rate commensurate with the risks involved or selling price of assets held for sale. See "Note 11. Restructuring, Impairment and Plant Closing Costs." CASH AND CASH EQUIVALENTS We consider cash in checking accounts and cash in short-term highly liquid investments with remaining maturities of three months or less at the date of purchase, to be cash and cash equivalents. Cash flows from discontinued operations are not presented separately in our consolidated statements of cash flows. COST OF GOODS SOLD We classify the costs of manufacturing and distributing our products as cost of goods sold. Manufacturing costs include variable costs, primarily raw materials and energy, and fixed expenses directly associated with production. Manufacturing costs also include, among other things, plant site operating costs and overhead (including depreciation), production planning and logistics costs, repair and maintenance costs, plant site purchasing costs, and engineering and technical support costs. Distribution, freight and warehousing costs are also included in cost of goods sold. DERIVATIVES AND HEDGING ACTIVITIES All derivatives, whether designated in hedging relationships or not, are recorded on our balance sheet at fair value. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and the hedged items are recognized in earnings. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded in accumulated other comprehensive loss, to the extent effective, and will be recognized in the income statement when the hedged item affects earnings. Changes in the fair value of the hedge in the net investment of certain international operations are recorded in other comprehensive income (loss), to the extent effective. The effectiveness of a cash flow hedging relationship is established at the inception of the hedge, and after inception we perform effectiveness assessments at least every three months. A derivative designated as a cash flow hedge is determined to be effective if the change in value of the hedge divided by the change in value of the hedged item is within a range of 80% to 125%. Hedge ineffectiveness in a cash flow hedge occurs only if the cumulative gain or loss on the derivative hedging instrument exceeds the cumulative change in the expected future cash flows on the hedged transaction. For a derivative that does not qualify or has not been designated as a hedge, changes in fair value are recognized in earnings. ENVIRONMENTAL EXPENDITURES Environmental related restoration and remediation costs are recorded as liabilities when site restoration and environmental remediation and clean-up obligations are either known or considered probable and the related costs can be reasonably estimated. Other environmental expenditures that are principally maintenance or preventative in nature are recorded when expended and incurred and are expensed or capitalized as appropriate. See "Note 20. Environmental, Health and Safety Matters." FOREIGN CURRENCY TRANSLATION The accounts of our operating subsidiaries outside of the U.S., unless they are operating in highly inflationary economic environments, consider the functional currency to be the currency of the economic environment in which they operate. Accordingly, assets and liabilities are translated at rates prevailing at the balance sheet date. Revenues, expenses, gains and losses are translated at a weighted average rate for the period. Cumulative translation adjustments are recorded to equity as a component of accumulated other comprehensive loss. If a subsidiary operates in an economic environment that is considered to be highly inflationary (100% cumulative inflation over a three-year period), the U.S. dollar is considered to be the functional currency and gains and losses from remeasurement to the U.S. dollar from the local currency are included in the statement of operations. Where a subsidiary's operations are effectively run, managed, financed and contracted in U.S. dollars, such as certain finance subsidiaries outside of the U.S., the U.S. dollar is considered to be the functional currency. Foreign currency transaction gains and losses are recorded in other operating (income) expense in our consolidated statements of operations and were net losses of $7 million, $15 million and $11 million for the years ended December 31, 2015, 2014 and 2013, respectively. INCOME TAXES We use the asset and liability method of accounting for income taxes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial and tax reporting purposes. We evaluate deferred tax assets to determine whether it is more likely than not that they will be realized. Valuation allowances are reviewed on a tax jurisdiction basis to analyze whether there is sufficient positive or negative evidence to support a change in judgment about the realizability of the related deferred tax assets for each jurisdiction. These conclusions require significant judgment. In evaluating the objective evidence that historical results provide, we consider the cyclicality of businesses and cumulative income or losses during the applicable period. Cumulative losses incurred over the period limits our ability to consider other subjective evidence such as our projections for the future. Changes in expected future income in applicable jurisdictions could affect the realization of deferred tax assets in those jurisdictions. We do not provide for income taxes or benefits on the undistributed earnings of our non-U.S. subsidiaries that are reinvested and, in the opinion of management, will continue to be reinvested indefinitely. Accounting for uncertainty in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The application of income tax law is inherently complex. We are required to determine if an income tax position meets the criteria of more-likely-than-not to be realized based on the merits of the position under tax law, in order to recognize an income tax benefit. This requires us to make significant judgments regarding the merits of income tax positions and the application of income tax law. Additionally, if a tax position meets the recognition criteria of more-likely-than-not we are required to make judgments and apply assumptions to measure the amount of the tax benefits to recognize. These judgments are based on the probability of the amount of tax benefits that would be realized if the tax position was challenged by the taxing authorities. Interpretations and guidance surrounding income tax laws and regulations change over time. As a consequence, changes in assumptions and judgments can materially affect amounts recognized in our consolidated financial statements. INTANGIBLE ASSETS AND GOODWILL Intangible assets are stated at cost (fair value at the time of acquisition) and are amortized using the straight-line method over the estimated useful lives or the life of the related agreement as follows: Patents and technology 5 - 30 years Trademarks 9 - 30 years Licenses and other agreements 5 - 15 years Other intangibles 5 - 15 years Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to any method of amortization, but is tested for impairment annually (at the beginning of the third quarter) and when events and circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. When the fair value is less than the carrying value of the related reporting unit, we are required to reduce the amount of goodwill through a charge to earnings. Fair value is estimated using the market approach, as well as the income approach based on discounted cash flow projections. Goodwill has been assigned to reporting units for purposes of impairment testing. The net change to goodwill in response to changes in foreign currency exchange rates during 2015 was $6 million. INVENTORIES Inventories are stated at the lower of cost or market, with cost determined using LIFO, first-in first-out, and average costs methods for different components of inventory. LEGAL COSTS We expense legal costs, including those legal costs incurred in connection with a loss contingency, as incurred. NET INCOME PER SHARE ATTRIBUTABLE TO HUNTSMAN CORPORATION Basic income per share excludes dilution and is computed by dividing net income attributable to Huntsman Corporation common stockholders by the weighted average number of shares outstanding during the period. Diluted income per share reflects all potential dilutive common shares outstanding during the period and is computed by dividing net income available to Huntsman Corporation common stockholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding as dilutive securities. Basic and diluted income per share is determined using the following information (in millions): Year Ended December 31, 2015 2014 2013 Numerator: Basic and diluted income from continuing operations: Income from continuing operations attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income: Net income attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares (denominator): Weighted average shares outstanding Dilutive securities: Stock-based awards ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total weighted average shares outstanding, including dilutive shares ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional stock-based awards of 6.1 million, 1.0 million and 7.3 million weighted average equivalent shares of stock were outstanding during the years ended December 31, 2015, 2014 and 2013, respectively. However, these stock-based awards were not included in the computation of diluted earnings per share for the respective periods mentioned because the effect would be anti-dilutive. OTHER NONCURRENT ASSETS Other noncurrent assets consist primarily of spare parts, the overfunded portion related to defined benefit plans for employees and capitalized turnaround costs. PRINCIPLES OF CONSOLIDATION Our consolidated financial statements include the accounts of our wholly owned and majority owned subsidiaries and any variable interest entities for which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives or lease term as follows: Buildings and equipment 5 - 50 years Plant and equipment 3 - 30 years Furniture, fixtures and leasehold improvements 5 - 20 years Interest expense capitalized as part of plant and equipment was $22 million, $16 million and $7 million for the years ended December 31, 2015, 2014 and 2013, respectively. Periodic maintenance and repairs applicable to major units of manufacturing facilities (a "turnaround") are accounted for on the deferral basis by capitalizing the costs of the turnaround and amortizing the costs over the estimated period until the next turnaround. Normal maintenance and repairs of plant and equipment are charged to expense as incurred. Renewals, betterments and major repairs that materially extend the useful life of the assets are capitalized, and the assets replaced, if any, are retired. RECLASSIFICATIONS Certain amounts in the consolidated financial statements for prior periods have been reclassified to conform with the current presentation. Effective October 1, 2015, we retroactively applied, and information in this report reflects, the presentation and disclosure requirements of ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . See "—Recently Issued Accounting Pronouncements." REVENUE RECOGNITION We generate substantially all of our revenues through sales in the open market and long-term supply agreements. We recognize revenue when it is realized or realizable and earned. Revenue for product sales is recognized when a sales arrangement exists, risk and title to the product transfer to the customer, collectability is reasonably assured and pricing is fixed or determinable. The transfer of risk and title to the product to the customer usually occurs at the time shipment is made. SECURITIZATION OF ACCOUNTS RECEIVABLE Under our A/R Programs, we grant an undivided interest in certain of our trade receivables to the U.S. SPE and the EU SPE. This undivided interest serves as security for the issuance of debt. The A/R Programs provide for financing in both U.S. dollars and euros. The amounts outstanding under our A/R Programs are accounted for as secured borrowings. See "Note 14. Debt—Direct and Subsidiary Debt—A/R Programs." STOCK-BASED COMPENSATION We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost will be recognized over the period during which the employee is required to provide services in exchange for the award. See "Note 22. Stock-Based Compensation Plan." USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Accounting Pronouncements Adopted During 2015 In April 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , changing the criteria for reporting discontinued operations and enhancing reporting requirements for discontinued operations. A disposal of a component of an entity or a group of components of an entity will be required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. Further, the amendments in this ASU will require an entity to present, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections, respectively, of the statement of financial position. The amendments in this ASU are effective prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years, and for all businesses that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. We adopted the amendments in this ASU effective January 1, 2015, and the initial adoption of the amendments in this ASU did not have a significant impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts, and that amortization of debt issuance costs shall be reported as interest expense. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early application permitted. Entities would apply the new guidance retrospectively to all prior periods. We adopted the amendments in this ASU effective October 1, 2015 and have presented debt issuance costs as a direct deduction from the carrying amount of debt in our consolidated financial statements retrospectively to all prior periods. Debt issuance costs were previously presented as other noncurrent assets in our consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . The amendments in this ASU require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the current reporting period in which the adjustment amounts are determined and calculated as if the accounting had been completed at the acquisition date. The amendments in this ASU also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The amendments in this ASU should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this ASU with earlier application permitted for financial statements that have not been issued. We adopted the amendments in this ASU effective October 1, 2015, and the initial adoption of the amendments in this ASU did not have a significant impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this ASU are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in this ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We adopted the amendments in this ASU effective October 1, 2015 and have classified, on a prospective basis, all deferred tax liabilities and assets as noncurrent on our consolidated financial statements. Accounting Pronouncements Pending Adoption in Future Periods In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , outlining a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and supersedes most current revenue recognition guidance. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , deferring the effective date of ASU No. 2014-09 for all entities by one year. The amendments in these ASUs are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amendments in ASU No. 2014-09 should be applied retrospectively, and early application is permitted. We are currently evaluating the impact of the adoption of the amendments in ASU No. 2014-09 on our consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, providing guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In January 2015, the FASB issued ASU No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items , eliminating from US GAAP the concept of extraordinary items. Reporting entities will no longer have to assess whether a particular event or transaction event is extraordinary. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively or may also apply them retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . The amendments in this ASU change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities by placing more emphasis on risk of loss when determining a controlling financial interest. These amendments affect areas specific to limited partnerships and similar legal entities, evaluating fees paid to a decision maker or service provider as a variable interest, the effects of both fee arrangements and related parties on the primary beneficiary determination and certain investment funds. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments retrospectively or using a modified retrospective approach. Early adoption is permitted, including adoption in an interim period provided that any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement . The amendments in this ASU provide guidance that will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement, including whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license consistent with the acquisition of other software licenses; otherwise, the customer should account for the arrangement as a service contract. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Entities can elect to adopt the amendments either prospectively to all arrangements entered into after the effective date or retrospectively to all prior periods. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . The amendments in this ASU do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method, but rather does apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments in this ASU should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The amendments in this ASU require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption of the amendments in the ASU is not permitted. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values (including disclosure requirements) should be applied prospectively to equity investments that exist as of the date of adoption. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2015
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS	3. BUSINESS COMBINATIONS ROCKWOOD ACQUISITION On October 1, 2014, we completed the acquisition of the Performance Additives and Titanium Dioxide businesses of Rockwood Holdings, Inc. We paid $1.02 billion in cash and assumed certain unfunded pension liabilities in connection with the Rockwood Acquisition. The acquisition was financed using a bank term loan. The majority of the acquired businesses have been integrated into our Pigments and Additives segment. Transaction costs charged to expense related to this acquisition were approximately nil, $24 million and $8 million for the years ended December 31, 2015, 2014 and 2013, respectively, and were recorded in selling, general and administrative expenses in our consolidated statements of operations. The following businesses were acquired from Rockwood: • titanium dioxide, a white pigment derived from titanium bearing ores with strong specialty business in fibers, inks, pharmaceuticals, food and cosmetics; • functional additives made from barium and zinc based inorganics used to make colors more brilliant, primarily in plastics, coatings, films, food, cosmetics, pharmaceuticals and paper; • color pigments made from synthetic iron-oxide and other non-TiO2 inorganic pigments used by manufacturers of coatings and colorants; • timber treatment wood protection chemicals used primarily in residential and commercial applications; • water treatment products used to improve water purity in industrial, commercial and municipal applications; and • specialty automotive molded components. In connection with securing certain regulatory approvals required to complete the Rockwood Acquisition, we sold our TiO2 TR52 product line used in printing inks to Henan in December 2014. The sale did not include any manufacturing assets but does include an agreement to supply TR52 product to Henan during a transitional period. We have accounted for the Rockwood Acquisition using the acquisition method. As such, we analyzed the fair value of tangible and intangible assets acquired and liabilities assumed. The allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions): Cash paid for Rockwood Acquisition in 2014 $ Purchase price adjustment received in 2015 ) ​ ​ ​ ​ ​ Net acquisition cost $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of assets acquired and liabilities assumed: Cash $ Accounts receivable Inventories Prepaid expenses and other current assets Property, plant and equipment Intangible assets Deferred income taxes, non-current Other assets Accounts payable ) Accrued expenses and other current liabilities ) Long-term debt, non-current ) Pension and related liabilities ) Deferred income taxes, non-current ) Other liabilities ) ​ ​ ​ ​ ​ Total fair value of net assets acquired ​ ​ ​ ​ ​ Noncontrolling interest ) ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During the second quarter of 2015, we received $18 million related to the settlement of certain purchase price adjustments. As a result of the finalization of the valuation of the assets and liabilities, reallocations were made in certain property, plant and equipment, deferred tax, accrued liability and other long-term liability balances. None of the fair value of this acquisition was allocated to goodwill. Intangible assets acquired consist primarily of developed technology, trademarks and customer relationships, all of which are being amortized over nine years. The noncontrolling interest primarily relates to Viance, a 50%-owned joint venture with Dow Chemical acquired as part of the Rockwood Acquisition. The noncontrolling interest was valued at 50% of the fair value of the net assets of Viance as of October 1, 2014, as dictated by the ownership interest percentages. If the Rockwood Acquisition were to have occurred on January 1, 2013, the following estimated pro forma revenues and net income attributable to Huntsman Corporation and Huntsman International would have been reported (dollars in millions, except per share amounts): Huntsman Corporation Pro Forma Year ended December 31, (Unaudited) 2014 2013 Revenues $ $ Net income attributable to Huntsman Corporation Income per share: Basic $ $ Diluted Huntsman International Pro Forma Year ended December 31, (Unaudited) 2014 2013 Revenues $ $ Net income attributable to Huntsman International OXID ACQUISITION On August 29, 2013, we completed the acquisition of the chemical business of Oxid L.P. (the "Oxid Acquisition"). The acquisition cost of approximately $76 million consisted of cash payments of approximately $66 million and contingent consideration of $10 million. The contingent consideration related to an earn-out agreement which would be paid over two years if certain conditions were met. Related to this earn-out agreement, $6 million was paid during 2014 and the balance has been paid in 2015. The acquired business has been integrated into our Polyurethanes segment. Transaction costs charged to expense related to this acquisition were not significant. We have accounted for the Oxid Acquisition using the acquisition method. As such, we analyzed the fair value of tangible and intangible assets acquired and liabilities assumed. The allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions): Cash paid for acquisition $ Contingent consideration ​ ​ ​ ​ ​ Acquisition cost $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of assets acquired and liabilities assumed: Accounts receivable $ Inventories Property, plant and equipment Intangible assets Accounts payable ) Accrued liabilities ) ​ ​ ​ ​ ​ Total fair value of net assets acquired $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets acquired consist primarily of developed technology and customer relationships, both of which are being amortized over 15 years. If the Oxid Acquisition were to have occurred on January 1, 2013, the following estimated pro forma revenues and net income attributable to Huntsman Corporation and Huntsman International would have been reported (dollars in millions, except per share amounts): Huntsman Corporation Pro Forma Year ended December 31, 2013 (Unaudited) Revenues $ Net income attributable to Huntsman Corporation Income per share: Basic $ Diluted Huntsman International Pro Forma Year ended December 31, 2013 (Unaudited) Revenues $ Net income attributable to Huntsman International

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2015
INVENTORIES
INVENTORIES	4. INVENTORIES Inventories consisted of the following (dollars in millions): December 31, 2015 2014 Raw materials and supplies $ $ Work in progress Finished goods ​ ​ ​ ​ ​ ​ ​ ​ Total LIFO reserves ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net inventories $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For both December 31, 2015 and 2014, approximately 9% of inventories were recorded using the LIFO cost method.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT The cost and accumulated depreciation of property, plant and equipment were as follows (dollars in millions): Huntsman Corporation December 31, 2015 2014 Land $ $ Buildings Plant and equipment Construction in progress ​ ​ ​ ​ ​ ​ ​ ​ Total Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation expense for 2015, 2014 and 2013 was $377 million, $413 million and $415 million, respectively, of which nil, nil and $2 million was related to discontinued operations in 2015, 2014 and 2013, respectively. Huntsman International December 31, 2015 2014 Land $ $ Buildings Plant and equipment Construction in progress ​ ​ ​ ​ ​ ​ ​ ​ Total Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation expense for 2015, 2014 and 2013 was $365 million, $398 million and $391 million, respectively, of which nil, nil and $2 million was related to discontinued operations in 2015, 2014 and 2013, respectively.

INVESTMENT IN UNCONSOLIDATED AF

INVESTMENT IN UNCONSOLIDATED AFFILIATES	12 Months Ended
	Dec. 31, 2015
INVESTMENT IN UNCONSOLIDATED AFFILIATES
INVESTMENT IN UNCONSOLIDATED AFFILIATES	6. INVESTMENT IN UNCONSOLIDATED AFFILIATES Investments in companies in which we exercise significant influence, but do not control, are accounted for using the equity method. Investments in companies in which we do not exercise significant influence are accounted for using the cost method. Our ownership percentage and investment in unconsolidated affiliates were as follows (dollars in millions): December 31, 2015 2014 Equity Method: Louisiana Pigment Company, L.P. (50%) $ $ BASF Huntsman Shanghai Isocyanate Investment BV (50%)(1) Nanjing Jinling Huntsman New Material Co., Ltd. (49%) Jurong Ningwu New Materials Development Co., Ltd. (30%) Nippon Aqua Co., Ltd (15%)(2) — ​ ​ ​ ​ ​ ​ ​ ​ Total equity method investments Cost Method: International Diol Company (4%) White Mountain Titanium Corporation (3%) Others ​ ​ ​ ​ ​ ​ ​ ​ Total investments $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) We own 50% of BASF Huntsman Shanghai Isocyanate Investment BV. BASF Huntsman Shanghai Isocyanate Investment BV owns a 70% interest in SLIC, thus giving us an indirect 35% interest in SLIC. (2) As of April 1, 2015, we no longer exercise significant influence in our investment in Nippon Aqua Co., Ltd., for which we previously accounted using the equity method. Consequently, we now account for this investment at fair value as an available-for-sale equity security. See "Note 16. Fair Value." In November 2012, we entered into an agreement to form a joint venture with Sinopec (Nanjing Jingling). The joint venture involves the construction and operation of a PO/MTBE facility in China. Under the joint venture agreement, we hold a 49% interest in the joint venture and Sinopec holds a 51% interest. Our total equity investment is anticipated to be approximately $85 million, net of license fees from the joint venture. At the end of 2015, cumulative capital contributions were approximately $85 million, net of license fees from the joint venture. Construction on the project is expected to be completed in the second half of 2016, with start-up expected in the first half of 2017.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2015
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES	7. VARIABLE INTEREST ENTITIES We evaluate our investments and transactions to identify variable interest entities for which we are the primary beneficiary. We hold a variable interest in the following joint ventures for which we are the primary beneficiary: • Rubicon LLC manufactures products for our Polyurethanes and Performance Products segments. The structure of the joint venture is such that the total equity investment at risk is not sufficient to permit the joint venture to finance its activities without additional financial support. By virtue of the operating agreement with this joint venture, we purchase a majority of the output, absorb a majority of the operating costs and provide a majority of the additional funding. • Pacific Iron Products Sdn Bhd manufactures products for our Pigments and Additives segment. In this joint venture we supply all the raw materials through a fixed cost supply contract, operate the manufacturing facility and market the products of the joint venture to customers. Through a fixed price raw materials supply contract with the joint venture we are exposed to the risk related to the fluctuation of raw material pricing. • Arabian Amines Company manufactures products for our Performance Products segment. As required in the operating agreement governing this joint venture, we purchase all of Arabian Amines Company's production and sell it to our customers. Substantially all of the joint venture's activities are conducted on our behalf. • Sasol-Huntsman is our 50%-owned joint venture with Sasol that owns and operates a maleic anhydride facility in Moers, Germany. This joint venture manufactures products for our Performance Products segment. The joint venture uses our technology and expertise, and we bear a disproportionate amount of risk of loss due to a related-party loan to Sasol-Huntsman for which we bear the default risk. • Viance is our 50%-owned joint venture with Dow Chemical. Viance markets timber treatment products for our Pigments and Additives segment. Our joint venture interest in Viance was acquired as part of the Rockwood Acquisition on October 1, 2014. The joint venture sources all of its products through a contract manufacturing arrangement at our Harrisburg, North Carolina facility, and we bear a disproportionate amount of working capital risk of loss due to the supply arrangement whereby we control manufacturing on Viance's behalf. As a result, we concluded that we are the primary beneficiary and began consolidating Viance upon the Rockwood Acquisition on October 1, 2014. Creditors of these entities have no recourse to our general credit. See "Note 14. Debt—Direct and Subsidiary Debt." As the primary beneficiary of these variable interest entities at December 31, 2015, the joint ventures' assets, liabilities and results of operations are included in our consolidated financial statements. The following table summarizes the carrying amount of our variable interest entities' assets and liabilities included in our consolidated balance sheets, before intercompany eliminations, as of December 31, 2015 and 2014 (dollars in millions): December 31, 2015 2014 Current assets $ $ Property, plant and equipment, net Other noncurrent assets Deferred income taxes Intangible assets Goodwill ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities $ $ Long-term debt Deferred income taxes Other noncurrent liabilities ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
INTANGIBLE ASSETS
INTANGIBLE ASSETS	8. INTANGIBLE ASSETS The gross carrying amount and accumulated amortization of intangible assets were as follows (dollars in millions): Huntsman Corporation December 31, 2015 December 31, 2014 Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Amortization Net Patents, trademarks and technology $ $ $ $ $ $ Licenses and other agreements Non-compete agreements Other intangibles ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization expense was $8 million, $19 million and $21 million for the years ended December 31, 2015, 2014 and 2013, respectively. Huntsman International December 31, 2015 December 31, 2014 Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Amortization Net Patents, trademarks and technology $ $ $ $ $ $ Licenses and other agreements Non-compete agreements Other intangibles ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization expense was $8 million, $19 million and $21 million for the years ended December 31, 2015, 2014 and 2013, respectively. Our and Huntsman International's estimated future amortization expense for intangible assets over the next five years is as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020

OTHER NONCURRENT ASSETS

OTHER NONCURRENT ASSETS	12 Months Ended
	Dec. 31, 2015
OTHER NONCURRENT ASSETS
OTHER NONCURRENT ASSETS	9. OTHER NONCURRENT ASSETS Other noncurrent assets consisted of the following (dollars in millions): December 31, 2015 2014 Capitalized turnaround costs $ $ Spare parts inventory Deposits Catalyst assets Investment in available for sale securities — Pension assets Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization expense of catalyst assets for the years ended December 31, 2015, 2014 and 2013 was $14 million, $13 million and $12 million, respectively.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2015
ACCRUED LIABILITIES
ACCRUED LIABILITIES	10. ACCRUED LIABILITIES Accrued liabilities consisted of the following (dollars in millions): Huntsman Corporation December 31, 2015 2014 Payroll and related costs $ $ Volume and rebate accruals Restructuring and plant closing costs Taxes other than income taxes Income taxes Interest Pension liabilities Other postretirement benefits Environmental accruals Asset retirement obligations — Other miscellaneous accruals ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International December 31, 2015 2014 Payroll and related costs $ $ Volume and rebate accruals Restructuring and plant closing costs Taxes other than income taxes Income taxes Interest Pension liabilities Other postretirement benefits Environmental accruals Asset retirement obligations — Other miscellaneous accruals ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

RESTRUCTURING, IMPAIRMENT AND P

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS	12 Months Ended
	Dec. 31, 2015
RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS
RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS	11. RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS As of December 31, 2015, 2014 and 2013, accrued restructuring, impairment and plant closing costs by type of cost and initiative consisted of the following (dollars in millions): Workforce reductions(1) Demolition and decommissioning Non-cancelable lease costs Other restructuring costs Total(2) Accrued liabilities as of January 1, 2013 $ $ — $ $ — $ 2013 charges for 2012 and prior initiatives 2013 charges for 2013 initiatives — — Reversal of reserves no longer required ) — ) — ) 2013 payments for 2012 and prior initiatives ) ) ) ) ) 2013 payments for 2013 initiatives ) — — ) ) Net activity of discontinued operations — — ) — ) Foreign currency effect on liability balance — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2013 — Adjustment to Pigments & Additives opening balance sheet liabilities — — — 2014 charges for 2013 and prior initiatives 2014 charges for 2014 initiatives — — — Reversal of reserves no longer required ) — — ) ) 2014 payments for 2013 and prior initiatives ) ) ) ) ) 2014 payments for 2014 initiatives ) — — ) ) Net activity of discontinued operations — — ) — ) Foreign currency effect on liability balance ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2014 — Adjustment to Pigments & Additives opening balance sheet liabilities — — — 2015 charges for 2014 and prior initiatives 2015 charges for 2015 initiatives — Reversal of reserves no longer required ) — ) — ) 2015 payments for 2014 and prior initiatives ) ) ) ) ) 2015 payments for 2015 initiatives ) ) — ) ) Foreign currency effect on liability balance ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2015 $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The total workforce reduction reserves of $109 million relate to the termination of 1,057 positions, of which 972 positions had not been terminated as of December 31, 2015. (2) In December 2015, we prepaid $49 million of severance and other restructuring costs related to restructuring programs in our Pigments and Additives, Textile Effects and Performance Products segments. Certain of the severance costs were prepaid to a third party who will distribute the severance payments to affected employees when they are terminated in 2016. (3) Accrued liabilities remaining at December 31, 2015 and 2014 by year of initiatives were as follows (dollars in millions): December 31, 2015 2014 2013 initiatives and prior $ $ 2014 initiatives 2015 initiatives — ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Details with respect to our reserves for restructuring, impairment and plant closing costs are provided below by segment and initiative (dollars in millions): Polyurethanes Performance Products Advanced Materials Textile Effects Pigments and Additives Discontinued Operations Corporate & Other Total Accrued liabilities as of January 1, 2013 $ $ — $ $ $ $ $ $ 2013 charges for 2012 and prior initiatives — — 2013 charges for 2013 initiatives — — — — Reversal of reserves no longer required ) — ) ) — — — ) 2013 payments for 2012 and prior initiatives ) — ) ) ) — ) ) 2013 payments for 2013 initiatives — ) — — ) — ) ) Net activity of discontinued operations — — — — — ) — ) Foreign currency effect on liability balance — ) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2013 Adjustment to Pigments & Additives opening balance sheet liabilities — — — — — — 2014 charges for 2013 and prior initiatives — 2014 charges for 2014 initiatives — — — — Reversal of reserves no longer required ) — ) ) — — ) ) 2014 payments for 2013 and prior initiatives ) ) ) ) ) — ) ) 2014 payments for 2014 initiatives — — ) ) — — — ) Net activity of discontinued operations — — — — — ) — ) Foreign currency effect on liability balance ) ) ) ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2014 Adjustment to Pigments & Additives opening balance sheet liabilities — — — — — — 2015 charges for 2014 and prior initiatives — 2015 charges for 2015 initiatives — Reversal of reserves no longer required ) ) — ) — — ) ) 2015 payments for 2014 and prior initiatives ) ) ) ) ) — ) ) 2015 payments for 2015 initiatives ) ) ) ) ) — ) ) Foreign currency effect on liability balance ) ) — ) ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2015 $ $ $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current portion of restructuring reserves $ $ $ — $ $ $ $ $ Long-term portion of restructuring reserve — — — Details with respect to cash and noncash restructuring charges for the years ended December 31, 2015, 2014 and 2013 by initiative are provided below (dollars in millions): Cash charges: 2015 charges for 2014 and prior initiatives $ 2015 charges for 2015 initiatives Reversal of reserves no longer required ) Pension-related settlement charges Accelerated depreciation Other non-cash charges ​ ​ ​ ​ ​ Total 2015 Restructuring, Impairment and Plant Closing Costs $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash charges: 2014 charges for 2013 and prior initiatives $ 2014 charges for 2014 initiatives Reversal of reserves no longer required ) Pension-related settlement charges Non-cash charges ​ ​ ​ ​ ​ Total 2014 Restructuring, Impairment and Plant Closing Costs $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash charges: 2013 charges for 2012 and prior initiatives $ 2013 charges for 2013 initiatives Reversal of reserves no longer required ) Pension-related settlement charges Non-cash charges ​ ​ ​ ​ ​ Total 2013 Restructuring, Impairment and Plant Closing Costs $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2015 RESTRUCTURING ACTIVITIES In June 2015, our Polyurethanes segment initiated a restructuring program in Europe. In connection with this restructuring program, we recorded restructuring expense of $13 million during 2015 related primarily to workforce reductions. All expected charges have been incurred as of the end of 2015. In December 2015, our Performance Products segment announced plans for a reorganization of its commercial and technical functions and a refocused divisional business strategy to better position the segment for growth in coming years. During 2015, we recorded cash charges of $8 million primarily related to workforce reductions. We expect to incur charges through the first quarter of 2016 associated with this initiative. In June 2015, our Advanced Materials segment initiated a restructuring program in Europe. In connection with this restructuring program, we recorded restructuring expense of $11 million during 2015 related primarily to workforce reductions and accelerated depreciation recorded as restructuring, impairment and plant closing costs. All expected charges have been incurred as of the end of 2015. On September 27, 2011, we announced plans to implement a significant restructuring of our Textile Effects segment, including the closure of our production facilities and business support offices in Basel, Switzerland, as part of an ongoing strategic program aimed at improving the Textile Effects segment's long-term global competitiveness. In connection with this plan, during 2015, we recorded charges of $9 million for non-cancelable long-term contract termination costs, $21 million for decommissioning and $1 million of other restructuring charges associated with this initiative. During the fourth quarter of 2015, we settled certain of our obligations under these long-term contracts and recorded a restructuring charge of $14 million. In addition, we recorded charges of $6 million associated with other initiatives. On December 1, 2014, we announced that we are taking significant action to improve the global competitiveness of our Pigments and Additives segment. As part of a comprehensive restructuring program, we are reducing our workforce by approximately 900 positions. In connection with this restructuring program, during 2015, our Pigments and Additives segment recorded charges of $61 million for workforce reductions, $3 million for pension related charges and $15 million in other restructuring costs associated with this initiative. We expect to incur charges related to this program through the middle of 2016. On February 12, 2015, we announced a plan to close the 'black end' manufacturing operations and ancillary activities at our Calais, France site, which will reduce our titanium dioxide capacity by approximately 100 kilotons, or 13% of our European titanium dioxide capacity. In connection with this announcement, we began to accelerate depreciation on the affected assets and recorded accelerated depreciation in 2015 of $68 million as restructuring, impairment and plant closing costs. In addition, during 2015, we recorded charges of $30 million primarily for workforce reductions and non-cash charges of $17 million. We expect to incur charges related to this program through the end of 2016. On March 4, 2015, we announced plans to restructure our color pigments business, another step in our previously announced plan to significantly restructure our global Pigments and Additives segment, and recorded restructuring expense of approximately $4 million during 2015 primarily related to workforce reductions. We expect to incur charges related to this program through 2016. During the fourth quarter of 2015, we determined that the South African asset group of our Pigments and Additives segment was impaired and recorded an impairment charge of $19 million. During 2015, our Corporate and other segment recorded charges of $8 million primarily related to a reorganization of our global information technology organization. We expect to incur charges related to these initiatives through the end of 2016. 2014 RESTRUCTURING ACTIVITIES In connection with a September 2014 announcement of a feasibility study into a MDI production expansion at our Geismar, Louisiana facility, we concluded that certain capitalized engineering costs associated with a previously planned MDI production expansion at our Rotterdam, The Netherlands facility were impaired and our Polyurethanes segment recorded a noncash impairment charge of $16 million during 2014. During 2013, our Performance Products segment initiated a restructuring program to refocus its surfactants business in Europe. In connection with this program, in 2014 we completed the sale of our European commodity surfactants business, including the ethoxylation facility in Lavera, France to Wilmar. In addition, Wilmar has entered into a multi-year arrangement to purchase certain sulfated surfactant products from our facilities in St. Mihiel, France and Castiglione delle Stiviere, Italy. Additionally, in 2014 we ceased production at our Patrica, Italy surfactants facility. During 2014, we recorded charges of $23 million primarily related to workforce reductions. During 2014, our Advanced Materials segment recorded charges of $11 million primarily related to workforce reductions with our global transformational change program designed to improve the segment's manufacturing efficiencies, enhance its commercial excellence and improve its long-term global competitiveness. During 2011, we announced plans to implement a significant restructuring of our Textile Effects segment, including the closure of our production facilities and business support offices in Basel, Switzerland, as part of an ongoing strategic program aimed at improving the Textile Effects segment's long-term global competitiveness. In connection with this program, during 2014, our Textile Effects segment recorded charges of $19 million, including a $9 million noncash charge for a pension settlement loss. In June 2014, we announced plans for the closure of our Qingdao, China plant, which was completed during 2015. During 2014, we recorded charges of $6 million primarily related to workforce reductions related to this initiative. On December 1, 2014, we announced that we are taking significant action to improve the global competitiveness of our Pigments and Additives segment. As part of a comprehensive restructuring program, we are reducing our workforce by approximately 900 positions. In connection with this restructuring program, we recorded restructuring expense of $57 million in the fourth quarter of 2014 related primarily to workforce reductions. On February 12, 2015, we announced plans to reduce our titanium dioxide capacity by approximately 100 kilotons by closing specific operations at our Calais, France facility, subject to consultation with employees and appropriate representative groups. This plan is in addition to that announced on December 1, 2014. During 2014, our Corporate and other segment recorded charges of $13 million primarily related to the reorganization of our global information technology organization. 2013 RESTRUCTURING ACTIVITIES During 2012, our Polyurethanes segment began implementing a restructuring program to reduce annualized fixed costs. In connection with this program, we recorded cash charges of $5 million and reversed charges of $9 million during 2013 primarily for workforce reductions. Our Polyurethanes segment also recorded pension-related charges of $6 million during 2013 related to this program. During 2013, our Performance Products segment recorded charges of $13 million primarily related to workforce reductions in association with plans to refocus our surfactants business in Europe and $5 million primarily related to workforce reductions in our Australian operation. During the fourth quarter of 2012, our Advanced Materials segment began implementing a global transformational change program, subject to consultation with relevant employee representatives, designed to improve the segment's manufacturing efficiencies, enhance commercial excellence and improve its long-term global competitiveness. During 2013, we recorded cash charges of $38 million and noncash charges of $4 million and reversed charges of $8 million. During 2011, our Textile Effects segment began implementing a significant restructuring program, including the closure of our production facilities and business support offices in Basel, Switzerland, as part of an ongoing strategic program aimed at improving the segment's long-term global competitiveness. In connection with this program, during 2013, we recorded cash charges of $73 million, a noncash charge of $9 million for a pension settlement loss and reversed charges of $5 million. During 2013, our Corporate and other segment recorded charges of $18 million primarily related to workforce reductions in association with a reorganization of our global information technology organization.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	12 Months Ended
	Dec. 31, 2015
ASSET RETIREMENT OBLIGATIONS.
ASSET RETIREMENT OBLIGATIONS	12. ASSET RETIREMENT OBLIGATIONS Asset retirement obligations consist primarily of landfill capping, closure and post-closure costs, asbestos abatement costs, demolition and removal costs and leasehold remediation costs. We are legally required to perform capping and closure and post-closure care on the landfills and asbestos abatement on certain of our premises. For each asset retirement obligation we recognized the estimated fair value of a liability and capitalized the cost as part of the cost basis of the related asset. The following table describes changes to our asset retirement obligation liabilities (dollars in millions): December 31, 2015 2014 Asset retirement obligations at beginning of year $ $ Accretion expense Liabilities incurred — — Liabilities assumed in connection with the Rockwood Acquisition — Liabilities settled ) ) Foreign currency effect on reserve balance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Asset retirement obligations at end of year $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

OTHER NONCURRENT LIABILITIES

OTHER NONCURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2015
OTHER NONCURRENT LIABILITIES
OTHER NONCURRENT LIABILITIES	13. OTHER NONCURRENT LIABILITIES Other noncurrent liabilities consisted of the following (dollars in millions): Huntsman Corporation December 31, 2015 2014 Pension liabilities $ $ Other postretirement benefits Environmental accruals Restructuring and plant closing costs Employee benefit accrual Asset retirement obligations Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International December 31, 2015 2014 Pension liabilities $ $ Other postretirement benefits Environmental accruals Restructuring and plant closing costs Employee benefit accrual Asset retirement obligations Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

DEBT

DEBT	12 Months Ended
	Dec. 31, 2015
DEBT
DEBT	14. DEBT Outstanding debt, net of debt issuance costs, of consolidated entities consisted of the following (dollars in millions): Huntsman Corporation December 31, 2015 2014 Senior Credit Facilities: Term loans $ $ Amounts outstanding under A/R programs Senior notes Senior subordinated notes — Variable interest entities Other ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current portion of debt $ $ Long-term portion ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ Notes payable to affiliates-noncurrent ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International December 31, 2015 2014 Senior Credit Facilities: Term loans $ $ Amounts outstanding under A/R programs Senior notes Senior subordinated notes — Variable interest entities Other ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current portion of debt $ $ Long-term portion ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ Notes payable to affiliates-current Notes payable to affiliates-noncurrent ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ DIRECT AND SUBSIDIARY DEBT Huntsman Corporation's direct debt and guarantee obligations consist of a guarantee of certain indebtedness incurred from time to time to finance certain insurance premiums. Substantially all of our other debt, including the facilities described below, has been incurred by our subsidiaries (primarily Huntsman International); Huntsman Corporation is not a guarantor of such subsidiary debt. Certain of our subsidiaries are designated as nonguarantor subsidiaries and have third-party debt agreements. These debt agreements contain certain restrictions with regard to dividends, distributions, loans or advances. In certain circumstances, the consent of a third party would be required prior to the transfer of any cash or assets from these subsidiaries to us. Debt Issuance Costs We record debt issuance costs related to a debt liabillty on the balance sheet as a reduction in the face amount of that debt liability. As of December 31, 2015 and 2014, the amount of debt issuance costs directly reducing the debt liability was $67 million and $79 million, respectively. We record the amortization of debt issuance costs as interest expense. Senior Credit Facilities As of December 31, 2015, our Senior Credit Facilities consisted of our Revolving Facility, our extended term loan B facility ("Extended Term Loan B"), our extended term loan B facility—series 2 ("Extended Term Loan B—Series 2"), our 2015 extended term loan B facility ("2015 Extended Term Loan B"), our 2014 new term loan facility ("2014 New Term Loan"), and Term Loan C as follows (dollars in millions): Facility Committed Amount Principal Outstanding Unamortized Discounts and Debt Issuance Costs Carrying Value Interest Rate(3) Maturity Revolving Facility $ $ — (1) $ — (1) $ — (1) USD LIBOR plus 2.75% Extended Term Loan B NA ) USD LIBOR plus 2.75% Extended Term Loan B—Series 2 NA — USD LIBOR plus 3.00% 2015 Extended Term Loan B NA ) USD LIBOR plus 3.00% 2014 New Term Loan NA ) USD LIBOR plus 3.00%(2) Term Loan C NA — USD LIBOR plus 2.25% (1) We had no borrowings outstanding under our Revolving Facility; we had approximately $15 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility. (2) The 2014 New Term Loan is subject to a 0.75% LIBOR floor. (3) The applicable interest rate of the Senior Credit Facilities is subject to certain secured leverage ratio thresholds. As of December 31, 2015, the weighted average interest rate on our outstanding balances under the Senior Credit Facilities was approximately 3%. Our obligations under the Senior Credit Facilities are guaranteed by our Guarantors, and are secured by a first priority lien on substantially all of our domestic property, plant and equipment, the stock of all of our material domestic subsidiaries and certain foreign subsidiaries, and pledges of intercompany notes between certain of our subsidiaries. Amendment to the Credit Agreement On August 10, 2015 we entered into a fourteenth amendment to the agreement governing the Senior Credit Facilities (the "Credit Agreement"). The amendment extends the stated maturity date of $773 million aggregate principal amount of our Extended Term Loan B and Extended Term Loan B—Series 2 from April 19, 2017 to April 19, 2019 and increases the interest rate margin with respect to the 2015 Extended Term Loan B to LIBOR plus 3.00% On October 1, 2014, the 2014 New Term Loan in an aggregate principal amount of $1.2 billion was used to fund the Rockwood Acquisition. See "Note 3. Business Combinations and Dispositions—Rockwood Acquisition." The 2014 New Term Loan matures on October 1, 2021 and has amoritzed in aggregate annual amounts equal to 1% of the original principal amount of the 2014 New Term Loan, payable quarterly as of March 31, 2015. The 2014 New Term Loan bears interest at an interest rate margin of LIBOR plus 3.00% (subject to a 0.75% floor). On October 1, 2014, Huntsman International entered into a further amendment to the Credit Agreement. The amendment increased revolving commitments in an aggregate principal amount of $25 million to an aggregate amount of $625 million. A/R Programs Our A/R Programs are structured so that we grant a participating undivided interest in certain of our trade receivables to the U.S. SPE and the EU SPE. We retain the servicing rights and a retained interest in the securitized receivables. Information regarding our A/R Programs as of December 31, 2015 was as follows (monetary amounts in millions): Facility Maturity Maximum Funding Availability(1) Amount Outstanding Interest Rate(2) U.S. A/R Program March 2018 $250 $90(3) Applicable rate plus 0.95% EU A/R Program March 2018 €225 (approximately $246) €114 (approximately $125) Applicable rate plus 1.10% (1) The amount of actual availability under our A/R Programs may be lower based on the level of eligible receivables sold, changes in the credit ratings of our customers, customer concentration levels and certain characteristics of the accounts receivable being transferred, as defined in the applicable agreements. (2) Applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. Applicable rate for our EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR. (3) As of December 31, 2015, we had approximately $7 million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program. During the three months ended March 31, 2015, we entered into amendments to our A/R Programs that, among other things, extend the scheduled commitment termination dates and reduce the applicable borrowing margins. As of December 31, 2015 and 2014, $438 million and $472 million, respectively, of accounts receivable were pledged as collateral under our A/R Programs. Notes As of December 31, 2015, we had outstanding the following notes (monetary amounts in millions): Notes Maturity Interest Rate Amount Outstanding Unamortized Discounts and Debt Issuance Costs 2020 Senior Notes November 2020 4.875% $650 ($646 carrying value) ($4) 2021 Senior Notes April 2021 5.125% €445 (€443 carrying value ($484)) ($2) 2022 Senior Notes November 2022 5.125% $400 ($396 carrying value) ($4) 2025 Senior Notes April 2025 4.25% €300 (€297 carrying value ($324)) ($4) On March 31, 2015, Huntsman International completed a €300 million (approximately $326 million) offering of 2025 Senior Notes. On April 17, 2015, Huntsman International applied the net proceeds of this offering to redeem $289 million ($294 million carrying value) of its 2021 Senior Subordinated Notes. The 2025 Senior Notes bear interest at 4.25% per year, payable semi-annually on April 1 and October 1, and are due on April 1, 2025. Huntsman International may redeem the 2025 Senior Notes in whole or in part at any time prior to January 1, 2025 at a price equal to 100% of the principal amount thereof plus a "make-whole" premium and accrued and unpaid interest. The 2020, 2021, 2022 and 2025 Senior Notes are general unsecured senior obligations of Huntsman International and are guaranteed on a general unsecured senior basis by the Guarantors. The indentures impose certain limitations on the ability of Huntsman International and its subsidiaries to, among other things, incur additional indebtedness secured by any principal properties, incur indebtedness of nonguarantor subsidiaries, enter into sale and leaseback transactions with respect to any principal properties and consolidate or merge with or into any other person or lease, sell or transfer all or substantially all of its properties and assets. Upon the occurrence of certain change of control events, holders of the 2020, 2021, 2022 and 2025 Senior Notes will have the right to require that Huntsman International purchase all or a portion of such holder's notes in cash at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest to the date of repurchase. Redemption of Notes and Loss on Early Extinguishment of Debt During the years ended December 31, 2015 and 2014, we redeemed or repurchased the following notes (dollars in millions): Date of Redemption Notes Principal Amount of Notes Redeemed Amount Paid (Excluding Accrued Interest) Loss on Early Extinguishment of Debt September 2015 2021 Senior Subordinated Notes $ $ $ April 2015 2021 Senior Subordinated Notes January 2015 2021 Senior Subordinated Notes December 2014 2021 Senior Subordinated Notes — November 2014 2020 Senior Subordinated Notes Variable Interest Entity Debt As of December 31, 2015, Arabian Amines Company, our consolidated 50%-owned joint venture, had $143 million outstanding under its loan commitments and debt financing arrangements. On April 29, 2015, Arabian Amines Company obtained a waiver of certain financial covenants from the lender as well as a waiver of prior noncompliance under the debt financing agreements. As of December 31, 2015, Arabian Amines Company is in compliance with its debt financing arrangements and we have classified $11 million as current debt and $132 million as long-term debt on our consolidated balance sheets. We do not guarantee these loan commitments, and Arabian Amines Company is not a guarantor of any of our other debt obligations. Other Debt On July 24, 2015, HPS entered into a financing arrangement to fund the construction of our MDI plant in China. As part of the financing, HPS has secured commitments of a RMB 669 million (approximately $103 million) term loan and a RMB 423 million (approximately $65 million) working capital facility. These facilities are unsecured, and we do not provide a guarantee of these loan commitments. As of December 31, 2015 we had nil borrowed on these facilities. Note Payable from Huntsman International to Huntsman Corporation As of December 31, 2015, we have a loan of $797 million to our subsidiary, Huntsman International. The Intercompany Note is unsecured and $100 million of the outstanding amount is classified as current as of December 31, 2015 on our consolidated balance sheets. As of December 31, 2015, under the terms of the Intercompany Note, Huntsman International promises to pay us interest on the unpaid principal amount at a rate per annum based on the previous monthly average borrowing rate obtained under our U.S. A/R Program, less 10 basis points (provided that the rate shall not exceed an amount that is 25 basis points less than the monthly average borrowing rate obtained for the U.S. LIBOR-based borrowings under our Revolving Facility). COMPLIANCE WITH COVENANTS We believe that we are in compliance with the covenants contained in the agreements governing our material debt instruments, including our Senior Credit Facilities, our A/R Programs and our notes. Our material financing arrangements contain certain covenants with which we must comply. A failure to comply with a covenant could result in a default under a financing arrangement unless we obtained an appropriate waiver or forbearance (as to which we can provide no assurance). A default under these material financing arrangements generally allows debt holders the option to declare the underlying debt obligations immediately due and payable. Furthermore, certain of our material financing arrangements contain cross-default and cross-acceleration provisions under which a failure to comply with the covenants in one financing arrangement may result in an event of default under another financing arrangement. Our Senior Credit Facilities are the Leverage Covenant which applies only to the Revolving Facility and is calculated at the Huntsman International level. The Leverage Covenant is applicable only if borrowings, letters of credit or guarantees are outstanding under the Revolving Facility (cash collateralized letters of credit or guarantees are not deemed outstanding). The Leverage Covenant is a net senior secured leverage ratio covenant which requires that Huntsman International's ratio of senior secured debt to EBITDA (as defined in the applicable agreement) is not more than 3.75 to 1. If in the future Huntsman International fails to comply with the Leverage Covenant, then we may not have access to liquidity under our Revolving Facility. If Huntsman International failed to comply with the Leverage Covenant at a time when we had uncollateralized loans or letters of credit outstanding under the Revolving Facility, Huntsman International would be in default under the Senior Credit Facilities, and, unless Huntsman International obtained a waiver or forbearance with respect to such default (as to which we can provide no assurance), Huntsman International could be required to pay off the balance of the Senior Credit Facilities in full, and we may not have further access to such facilities. The agreements governing our A/R Programs also contain certain receivable performance metrics. Any material failure to meet the applicable A/R Programs' metrics in the future could lead to an early termination event under the A/R Programs, which could require us to cease our use of such facilities, prohibiting us from additional borrowings against our receivables or, at the discretion of the lenders, requiring that we repay the A/R Programs in full. An early termination event under the A/R Programs would also constitute an event of default under our Senior Credit Facilities, which could require us to pay off the balance of the Senior Credit Facilities in full and could result in the loss of our Senior Credit Facilities. MATURITIES The scheduled maturities of our debt (excluding debt to affiliates) by year as of December 31, 2015 are as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2015
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	15. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to market risks, such as changes in interest rates, foreign exchange rates and commodity prices. From time to time, we enter into transactions, including transactions involving derivative instruments, to manage certain of these exposures. We also hedge our net investment in certain European operations. Changes in the fair value of the hedge in the net investment of certain European operations are recorded in accumulated other comprehensive loss. INTEREST RATE RISKS Through our borrowing activities, we are exposed to interest rate risk. Such risk arises due to the structure of our debt portfolio, including the mix of fixed and floating interest rates. Actions taken to reduce interest rate risk include managing the mix and rate characteristics of various interest bearing liabilities, as well as entering into interest rate derivative instruments. From time to time, we may purchase interest rate swaps and/or other derivative instruments to reduce the impact of changes in interest rates on our floating-rate long-term debt. Under interest rate swaps, we agree with other parties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts calculated by reference to an agreed notional principal amount. Huntsman International has entered into several interest rate contracts to hedge the variability caused by monthly changes in cash flow due to associated changes in LIBOR under our Senior Credit Facilities. These swaps are designated as cash flow hedges and the effective portion of the changes in the fair value of the swaps are recorded in other comprehensive (loss) income (dollars in millions): December 31, 2015 Notional Value Effective Date Maturity Fixed Rate Fair Value $ December 2014 April 2017 $1 noncurrent liability January 2015 April 2017 1 noncurrent liability December 31, 2014 Notional Value Effective Date Maturity Fixed Rate Fair Value $ January 2010 January 2015 less than $1 current liability December 2014 April 2017 2 noncurrent liability January 2015 April 2017 2 noncurrent liability Beginning in 2009, Arabian Amines Company entered into a 12-year floating to fixed interest rate contract providing for a receipt of LIBOR interest payments for a fixed payment of 5.02%. In connection with the consolidation of Arabian Amines Company as of July 1, 2010, the interest rate contract is now included in our consolidated results. See "Note 7. Variable Interest Entities." The notional amount of the swap as of December 31, 2015 was $24 million, and the interest rate contract is not designated as a cash flow hedge. As of December 31, 2015 and 2014, the fair value of the swap was $2 million and $3 million, respectively, and was recorded as other current liabilities on our consolidated balance sheets. For 2015 and 2014, we recorded a reduction of interest expense of $1 million and $1 million, respectively, due to changes in fair value of the swap. For the years ended December 31, 2015 and 2014, the changes in accumulated other comprehensive gain (loss) associated with these cash flow hedging activities were gains of approximately $1 million and $2 million, respectively. During 2016, accumulated other comprehensive loss of nil is expected to be reclassified to earnings. The actual amount that will be reclassified to earnings over the next twelve months may vary from this amount due to changing market conditions. We would be exposed to credit losses in the event of nonperformance by a counterparty to our derivative financial instruments. We anticipate, however, that the counterparties will be able to fully satisfy their obligations under the contracts. Market risk arises from changes in interest rates. FOREIGN EXCHANGE RATE RISK Our cash flows and earnings are subject to fluctuations due to exchange rate variation. Our revenues and expenses are denominated in various currencies. We enter into foreign currency derivative instruments to minimize the short-term impact of movements in foreign currency rates. Where practicable, we generally net multicurrency cash balances among our subsidiaries to help reduce exposure to foreign currency exchange rates. Certain other exposures may be managed from time to time through financial market transactions, principally through the purchase of spot or forward foreign exchange contracts (generally with maturities of three months or less). We do not hedge our currency exposures in a manner that would eliminate the effect of changes in exchange rates on our cash flows and earnings. As of December 31, 2015 and 2014, we had approximately $176 million and $179 million notional amount (in U.S. dollar equivalents) outstanding, respectively, in foreign currency contracts with a term of approximately one month. In November 2014, we entered into two five year cross-currency interest rate contracts and one eight year cross-currency interest rate contract to swap an aggregate notional $200 million for an aggregate notional €161 million. The swap is designated as a hedge of net investment for financial reporting purposes. Under the cross-currency interest rate contract, we will receive fixed U.S. dollar payments of $5 million semiannually on May 15 and November 15 (equivalent to an annual rate of 5.125%) and make interest payments of approximately €3 million (equivalent to an annual rate of approximately 3.6%). As of December 31, 2015 the fair value of this swap was $28 million and was recorded in noncurrent assets. On March 17, 2010, we entered into three five year cross-currency interest rate contracts to swap an aggregate notional $350 million for an aggregate notional €255 million. This swap was designated as a hedge of net investment for financial reporting purposes. As of December 31, 2014, the fair value of this swap was $43 million, and was recorded in current assets. During the three months ended March 31, 2015, we terminated these cross-currency interest rate contracts and received $66 million in payments from the counterparties. A portion of our debt is denominated in euros. We also finance certain of our non-U.S. subsidiaries with intercompany loans that are, in many cases, denominated in currencies other than the entities' functional currency. We manage the net foreign currency exposure created by this debt through various means, including cross-currency swaps, the designation of certain intercompany loans as permanent loans because they are not expected to be repaid in the foreseeable future and the designation of certain debt and swaps as net investment hedges. Foreign currency transaction gains and losses on intercompany loans that are not designated as permanent loans are recorded in earnings. Foreign currency transaction gains and losses on intercompany loans that are designated as permanent loans are recorded in other comprehensive (loss) income. From time to time, we review such designation of intercompany loans. We review our non-U.S. dollar denominated debt and derivative instruments to determine the appropriate amounts designated as hedges. As of December 31, 2015, we have designated approximately €751 million (approximately $821 million) of euro-denominated debt and cross-currency interest rate contracts as a hedge of our net investment. For the years ended December 31, 2015, 2014 and 2013, the amount of gain (loss) recognized on the hedge of our net investment was $68 million, $97 million and $(22) million, respectively, and was recorded in other comprehensive (loss) income. As of December 31, 2015, we had approximately €1,213 million (approximately $1,325 million) in net euro assets. COMMODITY PRICES RISK Inherent in our business is exposure to price changes for several commodities. However, our exposure to changing commodity prices is somewhat limited since the majority of our raw materials are acquired at posted or market related prices, and sales prices for many of our finished products are at market related prices which are largely set on a monthly or quarterly basis in line with industry practice. Consequently, we do not generally hedge our commodity exposures.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2015
FAIR VALUE
FAIR VALUE	16. FAIR VALUE The fair values of our financial instruments were as follows (dollars in millions): December 31, 2015 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Non-qualified employee benefit plan investments $ $ $ $ Investments in equity securities — — Cross-currency interest rate contacts Interest rate contracts Long-term debt (including current portion) The carrying amounts reported in the balance sheets of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the immediate or short-term maturity of these financial instruments. The fair values of non-qualified employee benefit plan investments and investments in equity securities are obtained through market observable pricing using prevailing market prices. The estimated fair values of our long-term debt are based on quoted market prices for the identical liability when traded as an asset in an active market (Level 1). The fair value estimates presented herein are based on pertinent information available to management as of December 31, 2015 and 2014. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since December 31, 2015, and current estimates of fair value may differ significantly from the amounts presented herein. The following assets and liabilities are measured at fair value on a recurring basis (dollars in millions): Fair Value Amounts Using Description December 31, 2015 Quoted prices in active markets for identical assets (Level 1)(4) Significant other observable inputs (Level 2)(4) Significant unobservable inputs (Level 3) Assets: Available-for sale equity securities: Equity mutual funds $ $ $ — $ — Investments in equity securities(1) — — Derivatives: Cross-currency interest rate contracts(2) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Derivatives: Interest rate contracts(3) $ $ — $ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Amounts Using Description December 31, 2014 Quoted prices in active markets for identical assets (Level 1)(4) Significant other observable inputs (Level 2)(4) Significant unobservable inputs (Level 3) Assets: Available-for sale equity securities: Equity mutual funds $ $ $ — $ — Derivatives: Cross-currency interest rate contracts(2) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Derivatives: Interest rate contracts(3) $ $ — $ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) As of April 1, 2015, we no longer exercise significant influence in our investment in Nippon Aqua Co., Ltd., for which we previously accounted using the equity method. Consequently, we now account for this investment at fair value as an available-for-sale equity security. (2) The income approach is used to calculate the fair value of these instruments. Fair value represents the present value of estimated future cash flows, calculated using relevant interest rates, exchange rates, and yield curves at stated intervals. There were no material changes to the valuation methods or assumptions used to determine the fair value during the current period. In November 2014, we entered into two five year cross-currency interest rate contracts and one eight year cross-currency interest rate contract. These instruments have been categorized by us as Level 3 within the fair value hierarchy due to unobservable inputs associated with the credit valuation adjustment, which we deemed to be significant inputs to the overall measurement of fair value at inception. (3) The income approach is used to calculate the fair value of these instruments. Fair value represents the present value of estimated future cash flows, calculated using relevant interest rates and yield curves at stated intervals. There were no material changes to the valuation methods or assumptions used to determine the fair value during the current period. (4) There were no transfers between Levels 1 and 2 within the fair value hierarchy for the years ended December 31, 2015 and 2014. The following tables show reconciliations of beginning and ending balances for the years ended December 31, 2015 and 2014 for instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (dollars in millions). Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Cross-Currency Interest Rate Contracts Beginning balance, January 1, 2015 $ Transfers into Level 3 — Transfers out of Level 3 — Total gains (losses): Included in earnings — Included in other comprehensive income (loss) Purchases, sales, issuances and settlements — ​ ​ ​ ​ ​ Ending balance, December 31, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at December 31, 2015 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Cross-Currency Interest Rate Contracts Beginning balance, January 1, 2014 $ — Transfers into Level 3 — Transfers out of Level 3 — Total gains (losses): Included in earnings — Included in other comprehensive income (loss) Purchases, sales, issuances and settlements — ​ ​ ​ ​ ​ Ending balance, December 31, 2014 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at December 31, 2014 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains and losses (realized and unrealized) included in earnings for instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are reported in interest expense and other comprehensive income (loss) as follows (dollars in millions): Interest expense Other comprehensive income (loss) 2015 Total net gains included in earnings $ — $ — Changes in unrealized gains relating to assets still held at December 31, 2015 — Interest expense Other comprehensive income (loss) 2014 Total net gains included in earnings $ — $ — Changes in unrealized gains relating to assets still held at December 31, 2014 — We also have assets that under certain conditions are subject to measurement at fair value on a non-recurring basis. These assets include property, plant and equipment and those associated with acquired businesses, including goodwill and intangible assets. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if one or more is determined to be impaired. During 2015 and 2014, we recorded charges of $19 million and $26 million, respectively, for the impairment of long-lived assets. See "Note 11. Restructuring, Impairment and Plant Closing Costs."

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2015
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	17. EMPLOYEE BENEFIT PLANS DEFINED BENEFIT AND OTHER POSTRETIREMENT BENEFIT PLANS Our employees participate in a trusteed, non-contributory defined benefit pension plan (the "Plan") that covers substantially all of our full-time U.S. employees. Effective July 1, 2004, the Plan formula for employees not covered by a collective bargaining agreement was converted to a cash balance design. For represented employees, participation in the cash balance design is subject to the terms of negotiated contracts. For participating employees, benefits accrued under the prior formula were converted to opening cash balance accounts. The new cash balance benefit formula provides annual pay credits from 4% to 12% of eligible pay, depending on age and service, plus accrued interest. Participants in the plan on July 1, 2004 may be eligible for additional annual pay credits from 1% to 8%, depending on their age and service as of that date, for up to five years. The conversion to the cash balance plan did not have a significant impact on the accrued benefit liability, the funded status or ongoing pension expense. We sponsor defined benefit plans in a number of countries outside of the U.S. The availability of these plans, and their specific design provisions, are consistent with local competitive practices and regulations. We also sponsor unfunded postretirement benefit plans other than pensions, which provide medical and life insurance benefits. Our postretirement benefit plans provide a fully insured Medicare Part D plan including prescription drug benefits affected by the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (the "Act"). We cannot determine whether the medical benefits provided by our postretirement benefit plans are actuarially equivalent to those provided by the Act. We do not collect a subsidy and our net periodic postretirement benefits cost, and related benefit obligation, do not reflect an amount associated with the subsidy. Beginning July 1, 2014, the Huntsman Defined Benefit Pension Plan was closed to new non-union entrants and as of April 1, 2015, it was closed to new union entrants. In addition, as of January 1, 2015, Rubicon LLC also closed its defined benefit plan to new entrants. Following the closure of these plans, new hires have been provided with a defined contribution plan with a non-discretionary employer contribution of 6% of pay and a company match of up to 4% of pay, for a total company contribution of up to 10% of pay. In connection with the Rockwood Acquisition, we assumed certain pension and other postretirement benefit liabilities in the amount of approximately $233 million as of October 1, 2014. The following table sets forth the funded status of the plans for us and Huntsman International and the amounts recognized in our consolidated balance sheets at December 31, 2015 and 2014 (dollars in millions): Defined Benefit Plans Other Postretirement Benefit Plans 2015 2014 2015 2014 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Change in benefit obligation Benefit obligation at beginning of year $ $ $ $ $ $ $ $ Service cost — — Interest cost — — Participant contributions — — — — Plan amendments — ) — ) ) — — — Acquisitions/divestitures — — — — — Foreign currency exchange rate changes — ) — ) — ) — — Curtailments — ) — ) — — — — Special termination benefits — — — — — — Actuarial (gain) loss ) ) ) — Benefits paid ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Benefit obligation at end of year $ $ $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in plan assets Fair value of plan assets at beginning of year $ $ $ $ $ — $ — $ — $ — Actual return on plan assets ) — — — — Foreign currency exchange rate changes — ) — ) — — — — Participant contributions — — — — Acquisitions/divestitures — — — — — — Company contributions — — Benefits paid ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of plan assets at end of year $ $ $ $ $ — $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Funded status Fair value of plan assets $ $ $ $ $ — $ — $ — $ — Benefit obligation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued benefit cost $ ) $ ) $ ) $ ) $ ) $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts recognized in balance sheet: Noncurrent asset $ — $ $ — $ $ — $ — $ — $ — Current liability ) ) ) ) ) — ) — Noncurrent liability ) ) ) ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ ) $ ) $ ) $ ) $ ) $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman Corporation Defined Benefit Plans Other Postretirement Benefit Plans 2015 2014 2015 2014 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ $ $ $ $ $ $ $ Prior service cost ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ) $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Defined Benefit Plans Other Postretirement Benefit Plans 2015 2014 2015 2014 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ $ $ $ $ $ $ $ Prior service cost ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ) $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows (dollars in millions): Huntsman Corporation Defined Benefit Plans Other Postretirement Benefit Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Actuarial loss $ $ $ $ — Prior service cost ) ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Defined Benefit Plans Other Postretirement Benefit Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Actuarial loss $ $ $ $ — Prior service cost ) ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Components of net periodic benefit costs for the years ended December 31, 2015, 2014 and 2013 were as follows (dollars in millions): Huntsman Corporation Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) ) ) Amortization of prior service cost ) ) ) — — Amortization of actuarial loss Settlement loss — — — — Special termination benefits — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ — $ — $ — Interest cost — — — Amortization of prior service cost ) ) ) — — — Amortization of actuarial loss — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) ) ) Amortization of prior service cost ) ) ) — — Amortization of actuarial loss Settlement loss — — — — Special termination benefits — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ — $ — $ — Interest cost — — — Amortization of prior service cost ) ) ) — — — Amortization of actuarial loss — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amounts recognized in net periodic benefit cost and other comprehensive income (loss) as of December 31, 2015, 2014 and 2013 were as follows (dollars in millions): Huntsman Corporation Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ $ $ ) $ $ $ ) Amortization of actuarial loss ) ) ) ) ) ) Current year prior service (credits) cost — — — ) ) Amortization of prior service cost (credits) — — ) Settlements — — — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) ) ) Net periodic benefit cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ $ $ ) $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ ) $ $ ) $ — $ $ ) Amortization of actuarial loss ) ) ) — — — Current year prior service credit ) — ) — — — Amortization of prior service cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) — ) Net periodic benefit cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ ) $ $ ) $ — $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ $ $ ) $ $ $ ) Amortization of actuarial loss ) ) ) ) ) ) Current year prior service (credits) cost — — — ) ) Amortization of prior service cost (credits) — — ) Settlements — — — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) ) ) Net periodic benefit cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ $ $ ) $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ ) $ $ ) $ — $ $ ) Amortization of actuarial loss ) ) ) — — — Current year prior service credit ) — ) — — — Amortization of prior service cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) — ) Net periodic benefit cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ ) $ $ ) $ — $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following weighted-average assumptions were used to determine the projected benefit obligation at the measurement date and the net periodic pension cost for the year: Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Projected benefit obligation Discount rate Rate of compensation increase Net periodic pension cost Discount rate Rate of compensation increase Expected return on plan assets Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Projected benefit obligation Discount rate Net periodic pension cost Discount rate At December 31, 2015 and 2014, the health care trend rate used to measure the expected increase in the cost of benefits was assumed to be 7.0% and 6.5%, respectively, decreasing to 5% after 2024. Assumed health care cost trend rates can have a significant effect on the amounts reported for the postretirement benefit plans. A one-percent point change in assumed health care cost trend rates would have the following effects (dollars in millions): Increase Decrease Asset category Effect on total of service and interest cost $ — $ — Effect on postretirement benefit obligation The projected benefit obligation and fair value of plan assets for the defined benefit plans with projected benefit obligations in excess of plan assets as of December 31, 2015 and 2014 were as follows (dollars in millions): U.S. plans Non-U.S. plans 2015 2014 2015 2014 Projected benefit obligation in excess of plan assets Projected benefit obligation $ $ $ $ Fair value of plan assets The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the defined benefit plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2015 and 2014 were as follows (dollars in millions): U.S. plans Non-U.S. plans 2015 2014 2015 2014 Accumulated benefit obligation in excess of plan assets Projected benefit obligation $ $ $ $ Accumulated benefit obligation Fair value of plan assets Expected future contributions and benefit payments are as follows (dollars in millions): U.S. Plans Non-U.S. Plans Defined Benefit Plans Other Postretirement Benefit Plans Defined Benefit Plans Other Postretirement Benefit Plans 2016 expected employer contributions To plan trusts $ $ $ $ — Expected benefit payments 2016 — 2017 — 2018 — 2019 — 2020 — 2021 - 2025 Our investment strategy with respect to pension assets is to pursue an investment plan that, over the long term, is expected to protect the funded status of the plan, enhance the real purchasing power of plan assets, and not threaten the plan's ability to meet currently committed obligations. Additionally, our investment strategy is to achieve returns on plan assets, subject to a prudent level of portfolio risk. Plan assets are invested in a broad range of investments. These investments are diversified in terms of domestic and international equities, both growth and value funds, including small, mid and large capitalization equities; short-term and long-term debt securities; real estate; and cash and cash equivalents. The investments are further diversified within each asset category. The portfolio diversification provides protection against a single investment or asset category having a disproportionate impact on the aggregate performance of the plan assets. Our pension plan assets are managed by outside investment managers. The investment managers value our plan assets using quoted market prices, other observable inputs or unobservable inputs. For certain assets, the investment managers obtain third-party appraisals at least annually, which use valuation techniques and inputs specific to the applicable property, market, or geographic location. During 2015, there were no transfers into or out of Level 3 assets. We have established target allocations for each asset category. Our pension plan assets are periodically rebalanced based upon our target allocations. The fair value of plan assets for the pension plans was $3.2 billion and $3.3 billion at December 31, 2015 and 2014, respectively. The following plan assets are measured at fair value on a recurring basis (dollars in millions): Fair Value Amounts Using Asset category December 31, 2015 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other — — Cash — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other Cash — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Amounts Using Asset category December 31, 2014 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other — Cash — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other Cash — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table reconciles the beginning and ending balances of plan assets measured at fair value using unobservable inputs (Level 3) (dollars in millions): Real Estate/Other Fair Value Measurements of Plan Assets Using Significant Unobservable Inputs (Level 3) Year ended December 31, 2015 Year ended December 31, 2014 Balance at beginning of period $ $ Return on pension plan assets Purchases, sales and settlements Transfers (out of) into Level 3 — — Acquisition date fair value of pension plan assets acquired — ​ ​ ​ ​ ​ ​ ​ ​ Balance at end of period $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Based upon historical returns, the expectations of our investment committee and outside advisors, the expected long-term rate of return on the pension assets is estimated to be between 5.75% and 7.75%. The asset allocation for our pension plans at December 31, 2015 and 2014 and the target allocation for 2016, by asset category are as follows: Asset category Target Allocation 2016 Allocation at December 31, 2015 Allocation at December 31, 2014 U.S. pension plans: Equities Fixed income Real estate/other Cash — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total U.S. pension plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-U.S. pension plans: Equities Fixed income Real estate/other Cash — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total non-U.S. pension plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities in our pension plans did not include any direct investments in equity securities of our Company or our affiliates at the end of 2015. DEFINED CONTRIBUTION PLANS — U.S. We have a money purchase pension plan covering substantially all of our domestic employees who were hired prior to January 1, 2004. Employer contributions are made based on a percentage of employees' earnings (ranging up to 8%). During 2014, we closed this plan to non-union participants, continuing to provide equivalent benefits to those covered under this plan into their salary deferral account. We also have a salary deferral plan covering substantially all U.S. employees. Plan participants may elect to make voluntary contributions to this plan up to a specified amount of their compensation. We contribute an amount equal to one-half of the participant's contribution, not to exceed 2% of the participant's compensation. Along with the introduction of the cash balance formula within our defined benefit pension plan, the money purchase pension plan was closed to new hires. At the same time, our match in the salary deferral plan was increased, for new hires, to a 100% match, not to exceed 4% of the participant's compensation, once the participant has achieved six years of service with our Company. Our total combined expense for the above defined contribution plans for each of the years ended December 31, 2015, 2014 and 2013 was $23 million, $15 million and $14 million, respectively. DEFINED CONTRIBUTION PLANS—NON - U.S. We have defined contribution plans in a variety of non-U.S. locations. Our total combined expense for these defined contribution plans for the years ended December 31, 2015, 2014 and 2013 was $13 million, $14 million and $14 million, respectively, primarily related to the Huntsman UK Pension Plan. All UK associates are eligible to participate in the Huntsman UK Pension Plan, a contract-based arrangement with a third party. Company contributions vary by business during a five year transition period. Plan participants elect to make voluntary contributions to this plan up to a specified amount of their compensation. We contribute a matching amount not to exceed 12% of the participant's salary for new hires and 15% of the participant's salary for all other participants. SUPPLEMENTAL SALARY DEFERRAL PLAN AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN The Huntsman Supplemental Savings Plan ("Huntsman SSP") is a non-qualified plan covering key management employees and allows participants to defer amounts that would otherwise be paid as compensation. The participant can defer up to 75% of their salary and bonus each year. This plan also provides benefits that would be provided under the Huntsman Salary Deferral Plan if that plan were not subject to legal limits on the amount of contributions that can be allocated to an individual in a single year. The Huntsman SSP was amended and restated effective as of January 1, 2005 to allow eligible executive employees to comply with Section 409A of the Internal Revenue Code of 1986. The SERP is an unfunded non-qualified pension plan established to provide certain executive employees with benefits that could not be provided, due to legal limitations, under the Huntsman Defined Benefit Pension Plan, a qualified defined benefit pension plan, and the Huntsman Money Purchase Pension Plan, a qualified money purchase pension plan. Assets of these plans are included in other noncurrent assets and as of December 31, 2015 and 2014 were $26 million and $24 million, respectively. During each of the years ended December 31, 2015, 2014 and 2013, we expensed a total of $1 million as contributions to the Huntsman SSP and the SERP. STOCK-BASED INCENTIVE PLAN In connection with the initial public offering of common and preferred stock on February 16, 2005, we adopted the Huntsman Stock Incentive Plan (the "Stock Incentive Plan"). The Stock Incentive Plan permits the grant of non-qualified stock options, incentive stock options, stock appreciation rights, nonvested stock, phantom stock, performance awards and other stock-based awards to our employees, directors and consultants and to employees and consultants of our subsidiaries, provided that incentive stock options may be granted solely to employees. As of December 31, 2015 we are authorized to grant up to 37.2 million shares under the Stock Incentive Plan. See "Note 22. Stock-Based Compensation Plan." INTERNATIONAL PLANS International employees are covered by various post-employment arrangements consistent with local practices and regulations. Such obligations are included in other long-term liabilities in our consolidated balance sheets.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
INCOME TAXES	18. INCOME TAXES The following is a summary of U.S. and non-U.S. provisions for current and deferred income taxes (dollars in millions): Huntsman Corporation Year ended December 31, 2015 2014 2013 Income tax expense (benefit): U.S. Current $ $ Deferred Non-U.S. Current Deferred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Year ended December 31, 2015 2014 2013 Income tax expense (benefit): U.S. Current $ $ Deferred Non-U.S. Current Deferred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following schedule reconciles the differences between the U.S. federal income taxes at the U.S. statutory rate to our provision for income taxes (dollars in millions): Huntsman Corporation Year ended December 31, 2015 2014 2013 Income from continuing operations before income taxes $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected tax expense at U.S. statutory rate of 35% $ $ $ Change resulting from: State tax expense net of federal benefit Non-U.S. tax rate differentials Effects of non-U.S. operations U.S. domestic manufacturing deduction Currency exchange gains and losses Effect of tax holidays — — U.S. foreign tax credits, net of associated income and taxes Tax benefit of losses with valuation allowances as a result of other comprehensive income Tax authority audits and dispute resolutions Change in valuation allowance Other, net — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Year ended December 31, 2015 2014 2013 Income from continuing operations before income taxes $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected tax expense at U.S. statutory rate of 35% $ $ $ Change resulting from: State tax expense net of federal benefit Non-U.S. tax rate differentials Effects of non-U.S. operations U.S. domestic manufacturing deduction Currency exchange gains and losses Effect of tax holidays — — U.S. foreign tax credits, net of associated income and taxes Tax benefit of losses with valuation allowances as a result of other comprehensive income Tax authority audits and dispute resolutions Change in valuation allowance Other, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During 2013, we declared a dividend from our non-U.S. operations to the U.S., which included bringing onshore certain U.S. foreign tax credits. The foreign tax credits brought onshore significantly exceeded the amount needed to offset the cash tax impact of the dividend. A full valuation allowance was placed on the remaining foreign tax credits since it was more likely than not that the credits would expire unused due to the application of specific foreign tax credit limitations. In early 2014, the amount of foreign tax credits brought onshore was adjusted downward by $10 million, to $104 million, which was fully offset by a valuation allowance. After extensive research and analysis, in September 2014, we made certain elections and filed amended U.S. tax returns for tax years 2008 through 2012, along with our original U.S. tax return for tax year 2013. These new tax elections and amended tax returns allowed us to utilize U.S. foreign tax credits. The net result was $104 million of income tax benefit recognized during 2014 for the release of the associated valuation allowance, including a discrete income tax benefit of $94 million in the third quarter of 2014. During 2015, we declared a dividend from our non-U.S. operations to the U.S. which included bringing onshore certain U.S. foreign tax credits. The foreign tax credits brought onshore exceeded the amount needed to offset the cash tax impact of the dividend, as well as enough to allow us to carry $14 million of foreign tax credits back to a prior year and claim a refund. Included in the non-U.S. deferred tax expense are income tax benefits of $3 million in 2015, $7 million in 2014 and $22 million in 2013 for losses from continuing operations for certain jurisdictions with valuation allowances to the extent that income was recorded in other comprehensive income in that same jurisdiction. The benefits in 2015 and 2014 were largely attributable to the U.K and the benefit in 2013 was largely attributable to Switzerland. In both years, foreign currency gains and changes in pension related items resulted in income in other comprehensive income where we have a full valuation allowance against the net deferred tax asset. An offsetting income tax expense was recognized in accumulated other comprehensive loss. We operate in over 40 non-U.S. tax jurisdictions with no specific country earning a predominant amount of our off-shore earnings. The vast majority of these countries have income tax rates that are lower than the U.S. statutory rate. The average statutory rate for countries with pre-tax losses was lower than the average statutory rate for countries with pre-tax income, resulting in a net expense as compared to the U.S. statutory rate. For the year ended December 31, 2015, the tax rate differential resulted in higher tax expense of $4 million, reflected in the reconciliation above. In certain non-U.S. tax jurisdictions, our U.S. GAAP functional currency is different than the local tax currency. As a result, foreign exchange gains and losses will impact our effective tax rate. For 2015, this resulted in a $33 million tax benefit ($58 million, net of $25 million of contingent liabilities and valuation allowances). During 2015, a number of our intercompany liabilities that were denominated in U.S. dollars were owed by entities whose tax currency was the euro. As a result of the depreciation in the euro opposite the U.S. dollar, these entities recorded a tax only foreign exchange loss. Most of the intercompany receivables associated with these same U.S. dollar denominated intercompany debts were held by entities with a tax currency of the U.S. dollar which, therefore, resulted in no taxable gain. During 2015, we were granted an extension of a tax holiday from 2015 to 2022 on certain of our manufacturing operations in Singapore. During 2015, pursuant to the Singapore tax holiday, we recorded a benefit of $6 million. We will continue to enjoy this benefit to the extent of continuing profits in this manufacturing endeavor. We calculate deferred tax assets and liabilities related to U.S. state income taxes based on projected apportionment factors. During 2015, we experienced a decrease in our projected apportionment factors, which decreased our deferred tax liability for U.S. state income taxes. The amount of our deferred tax liability for U.S. state income taxes is significant, and therefore, the change in apportionment factors for 2015 decreased our net deferred tax liabilities by $5 million. Also during 2015, we changed the legal entity location of certain of our U.S. operations. These changes had the effect of reducing our state tax expense by approximately $3 million. The components of income (loss) from continuing operations before income taxes were as follows (dollars in millions): Huntsman Corporation Year ended December 31, 2015 2014 2013 U.S. $ $ $ Non-U.S. ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International Year ended December 31, 2015 2014 2013 U.S. $ $ $ Non-U.S. ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Components of deferred income tax assets and liabilities were as follows (dollars in millions): Huntsman Corporation December 31, 2015 2014 Deferred income tax assets: Net operating loss carryforwards $ $ Pension and other employee compensation Property, plant and equipment Intangible assets Foreign tax credits Other, net ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities: Property, plant and equipment $ ) $ ) Pension and other employee compensation ) ) Other, net ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset before valuation allowance $ $ Valuation allowance—net operating losses and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current deferred tax asset $ — $ Current deferred tax liability — ) Non-current deferred tax asset Non-current deferred tax liability ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax liability $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International December 31, 2014 2014 Deferred income tax assets: Net operating loss and AMT credit carryforwards $ $ Pension and other employee compensation Property, plant and equipment Intangible assets Foreign tax credits Other, net ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities: Property, plant and equipment $ ) $ ) Pension and other employee compensation ) ) Other, net ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset before valuation allowance $ $ Valuation allowance—net operating losses and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current deferred tax asset $ — $ Current deferred tax liability — ) Non-current deferred tax asset Non-current deferred tax liability ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ We have gross NOLs of $3,347 million in various non-U.S. jurisdictions. While the majority of the non-U.S. NOLs have no expiration date, $852 million have a limited life (of which $489 million are subject to a valuation allowance) and $29 million are scheduled to expire in 2016 (all of which are subject to a valuation allowance). We had no NOLs expire unused in 2015. Included in the $3,347 million of gross non-U.S. NOLs is $919 million attributable to our Luxembourg entities. As of December 31, 2015, due to the uncertainty surrounding the realization of the benefits of these losses, there is a valuation allowance of $216 million against these net tax-effected NOLs of $265 million. We evaluate deferred tax assets to determine whether it is more likely than not that they will be realized. Valuation allowances are reviewed each period on a tax jurisdiction by jurisdiction basis to analyze whether there is sufficient positive or negative evidence to support a change in judgment about the realizability of the related deferred tax assets. These conclusions require significant judgment. In evaluating the objective evidence that historical results provide, we consider the cyclicality of businesses and cumulative income or losses during the applicable period. Cumulative losses incurred over the period limits our ability to consider other subjective evidence such as our projections for the future. Our judgments regarding valuation allowances are also influenced by the costs and risks associated with any tax planning idea. During 2015, we established valuation allowances of $35 million and released valuation allowances of $3 million. In the U.S., we established $14 million of valuation allowance on U.S. foreign tax credits due to the application of specific foreign tax credit limitations, in the Netherlands we established $7 million of valuation allowance on losses which are scheduled to expire after 2016, and in Italy we established $12 million of valuation allowances on certain net deferred tax assets as a result of cumulative losses. During 2014, we released valuation allowances of $111 million and established valuation allowances of $3 million. In the U.S., we released $94 million of valuation allowance on U.S. foreign tax credits as a result of making certain tax elections and filing amended U.S. tax returns and in Luxembourg we released a valuation allowance on $6 million of certain net deferred tax assets as a result of significant changes in estimated future taxable income resulting from increased intercompany receivables and, therefore, increased interest income in Luxembourg, our primary treasury center outside of the U.S. During 2013, we established valuation allowances of $95 million primarily on U.S. foreign tax credits as a result of insufficient foreign source income and we released valuation allowances on $16 million of certain net deferred tax assets as a result of significant changes in estimated future taxable income resulting from increased intercompany receivables and, therefore, increased interest income. Uncertainties regarding expected future income in certain jurisdictions could affect the realization of deferred tax assets in those jurisdictions and result in additional valuation allowances in future periods, or, in the case of unexpected pre-tax earnings, the release of valuation allowances in future periods. The following is a summary of changes in the valuation allowance (dollars in millions): Huntsman Corporation 2015 2014 2013 Valuation allowance as of January 1 $ $ $ Valuation allowance as of December 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (increase) decrease ) ) Foreign currency movements ) ) (Decrease) increase to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Components of change in valuation allowance affecting tax expense: Pre-tax losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ ) $ ) $ ) Releases of valuation allowances in various jurisdictions Establishments of valuation allowances in various jurisdictions ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International 2015 2014 2013 Valuation allowance as of January 1 $ $ $ Valuation allowance as of December 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (increase) decrease ) ) Foreign currency movements ) ) (Decrease) increase to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Components of change in valuation allowance affecting tax expense: Pre-tax losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ ) $ ) $ ) Releases of valuation allowances in various jurisdictions Establishments of valuation allowances in various jurisdictions ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following is a reconciliation of our unrecognized tax benefits (dollars in millions): 2015 2014 Unrecognized tax benefits as of January 1 $ $ Gross increases and decreases—tax positions taken during a prior period ) Gross increases and decreases—tax positions taken during the current period Decreases related to settlements of amounts due to tax authorities ) ) Reductions resulting from the lapse of statutes of limitation ) ) Foreign currency movements ) ) ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized tax benefits as of December 31 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2015 and 2014, the amount of unrecognized tax benefits which, if recognized, would affect the effective tax rate is $50 million and $36 million, respectively. During 2015, 2014, and 2013, for unrecognized tax benefits that impact tax expense, we recorded a net increase in unrecognized tax benefits with a corresponding income tax expense (not including interest and penalty expense) of $19 million, $1 million and $8 million, respectively. Additional decreases in unrecognized tax benefits were offset by cash settlements or by a decrease in net deferred tax assets and, therefore, did not affect income tax expense. In accordance with our accounting policy, we continue to recognize interest and penalties accrued related to unrecognized tax benefits in income tax expense. Year ended December 31, 2015 2014 2013 Interest expense included in tax expense $ ) $ $ Penalties expense included in tax expense — — ) December 31, 2015 2014 Accrued liability for interest $ $ Accrued liability for penalties — — We conduct business globally and, as a result, we file income tax returns in U.S. federal, various U.S. state and various non-U.S. jurisdictions. The following table summarizes the tax years that remain subject to examination by major tax jurisdictions: Tax Jurisdiction Open Tax Years China 2011 and later France 2002 and later India 2004 and later Italy 2010 and later Malaysia 2003 and later Switzerland 2009 and later The Netherlands 2010 and later United Kingdom 2012 and later United States federal 2009 and later Certain of our U.S. and non-U.S. income tax returns are currently under various stages of audit by applicable tax authorities and the amounts ultimately agreed upon in resolution of the issues raised may differ materially from the amounts accrued. We estimate that it is reasonably possible that certain of our non-U.S. unrecognized tax benefits could change within 12 months of the reporting date with a resulting decrease in the unrecognized tax benefits within a reasonably possible range of $4 million to $24 million. For the 12-month period from the reporting date, we would expect that a substantial portion of the decrease in our unrecognized tax benefits would result in a corresponding benefit to our income tax expense. During 2015, we concluded and effectively settled tax examinations in the U.S. (both federal and various states) and various non-U.S. jurisdictions including, but not limited to China and France. During 2014, we concluded and settled tax examinations in the U.S. (both federal and various states) and various non-U.S. jurisdictions including, but not limited to, China, France and Spain. During 2013, we concluded and settled tax examinations in the U.S. (both federal and various states) and various non-U.S. jurisdictions including, but not limited to, China, France and Italy. For non-U.S. entities that were not treated as branches for U.S. tax purposes, we do not provide for income taxes on the undistributed earnings of these subsidiaries that are reinvested and, in the opinion of management, will continue to be reinvested indefinitely. We have material intercompany debt obligations owed by our non-U.S. subsidiaries to the U.S. We do not intend to repatriate earnings to the U.S. via dividend based on estimates of future domestic cash generation and our ability to return cash to the U.S. through payments of intercompany debt owned by our non-U.S. subsidiaries to the U.S. To the extent that cash is required in the U.S., rather than repatriate earnings to the U.S. via dividend, we expect to utilize our intercompany debt. If any earnings were repatriated via dividend, we may need to accrue and pay taxes on the distributions. As discussed, we made a distribution of a portion of our earnings in 2015 and 2013 when the amount of foreign tax credits associated with the distribution was greater than the amount of tax otherwise due. The undistributed earnings of foreign subsidiaries with positive earnings that are deemed to be permanently invested were approximately $354 million at December 31, 2015. It is not practicable to determine the unrecognized deferred tax liability on those earnings because of the significant assumptions necessary to compute the tax.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	19. COMMITMENTS AND CONTINGENCIES PURCHASE COMMITMENTS We have various purchase commitments extending through 2029 for materials, supplies and services entered into in the ordinary course of business. Included in the purchase commitments table below are contracts which require minimum volume purchases that extend beyond one year or are renewable annually and have been renewed for 2016. Certain contracts allow for changes in minimum required purchase volumes in the event of a temporary or permanent shutdown of a facility. To the extent the contract requires a minimum notice period, such notice period has been included in the table below. The contractual purchase prices for substantially all of these contracts are variable based upon market prices, subject to annual negotiations. We have estimated our contractual obligations by using the terms of our current pricing for each contract. We also have a limited number of contracts which require a minimum payment even if no volume is purchased. We believe that all of our purchase obligations will be utilized in our normal operations. For the years ended December 31, 2015, 2014 and 2013, we made minimum payments of nil, nil and $7 million, respectively, under such take or pay contracts without taking the product. Total purchase commitments as of December 31, 2015 are as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING LEASES We lease certain railcars, aircraft, equipment and facilities under long-term lease agreements. The total expense recorded under operating lease agreements in our consolidated statements of operations is approximately $94 million, $97 million and $80 million for 2015, 2014 and 2013, respectively, net of sublease rentals of approximately $3 million, $3 million and $4 million for the years ended December 31, 2015, 2014 and 2013, respectively. Future minimum lease payments under operating leases as of December 31, 2015 are as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Future minimum lease payments have not been reduced by minimum sublease rentals of $2 million due in the future under noncancelable subleases. LEGAL MATTERS Antitrust Matters We were named as a defendant in consolidated class action civil antitrust suits filed on February 9 and 12, 2010 in the U.S. District Court for the District of Maryland alleging that we and our co-defendants and other alleged co-conspirators conspired to fix prices of titanium dioxide sold in the U.S. between at least March 1, 2002 and the present. The other defendants named in this matter were DuPont, Kronos and Cristal (formerly Millennium). On August 28, 2012, the court certified a class consisting of all U.S. customers who purchased titanium dioxide directly from the defendants (the "Direct Purchasers") since February 1, 2003. On December 13, 2013, we and all other defendants settled the Direct Purchasers litigation and the court approved the settlement. We paid the settlement in an amount immaterial to our consolidated financial statements. On November 22, 2013, we were named as a defendant in a civil antitrust suit filed in the U.S. District Court for the District of Minnesota brought by a Direct Purchaser who opted out of the Direct Purchasers class litigation (the "Opt-Out Litigation"). On April 21, 2014, the court severed the claims against us from the other defendants sued and ordered our case transferred to the U.S. District Court for the Southern District of Texas. Subsequently, Kronos, another defendant, was also severed from the Minnesota case and claims against it were transferred and consolidated for trial with our case in the Southern District of Texas. The trial previously scheduled to begin February 22, 2016 has been rescheduled to begin September 26, 2016. It is possible that additional claims will be filed by other Direct Purchasers who opted out of the class litigation. We were also named as a defendant in a class action civil antitrust suit filed on March 15, 2013 in the U.S. District Court for the Northern District of California by the purchasers of products made from titanium dioxide (the "Indirect Purchasers") making essentially the same allegations as did the Direct Purchasers. On October 14, 2014, plaintiffs filed their Second Amended Class Action Complaint narrowing the class of plaintiffs to those merchants and consumers of architectural coatings containing titanium dioxide. On August 11, 2015, the court granted our motion to dismiss the Indirect Purchasers litigation with leave to amend the complaint. A Third Amended Class Action Complaint was filed on September 29, 2015 further limiting the class to consumers of architectural paints. Plaintiffs have raised state antitrust claims under the laws of 15 states, consumer protection claims under the laws of 9 states, and unjust enrichment claims under the laws of 16 states. On November 4, 2015, we and our co-defendants filed another motion to dismiss, which remains pending. The Opt-Out Litigation and Indirect Purchasers plaintiffs seek to recover injunctive relief, treble damages or the maximum damages allowed by state law, costs of suit and attorneys' fees. We are not aware of any illegal conduct by us or any of our employees. Nevertheless, we have incurred costs relating to these claims and could incur additional costs in amounts which in the aggregate could be material to us. Because of the overall complexity of these cases, we are unable to reasonably estimate any possible loss or range of loss associated with these claims and we have made no accruals with respect to these claims. Product Delivery Claim We have been notified by a customer of potential claims related to our alleged delivery of a different product than the one the customer had ordered. Our customer claims that it was unaware that the different product had been delivered until after that product had been used to manufacture materials which were subsequently sold. Originally, the customer stated that it had been notified of claims by its customers of up to an aggregate of €153 million (approximately $167 million) relating to this matter and claimed that we may be responsible for all or a portion of these potential claims. Our customer has since resolved some of these claims and the aggregate amount of the current claims is now approximately €113 million (approximately $123 million). Based on the facts currently available, we believe that we are insured for any liability we may ultimately have in excess of $10 million. However, no assurance can be given regarding our ultimate liability or costs. We believe our range of possible loss in this matter is between €0 and €113 million (approximately $123 million), and we have made no accrual with respect to this matter. Indemnification Matters On July 3, 2012, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC ("the Banks") demanded that we indemnify them for claims brought against them by certain MatlinPatterson entities that were formerly our stockholders ("MatlinPatterson") in litigation filed by MatlinPatterson on June 19, 2012 in the 9th District Court in Montgomery County, Texas (the "Texas Litigation"). The Banks assert that they are entitled to indemnification pursuant to the Agreement of Compromise and Settlement between the Banks and our Company, dated June 22, 2009, wherein the Banks and our Company settled claims that we filed relating to the failed acquisition by and merger with Hexion. MatlinPatterson claims that the Banks knowingly made materially false representations about the nature of the financing for the acquisition of our Company by Hexion and that they suffered substantial loss in value to their 19 million shares of our common stock as a result thereof. MatlinPatterson is asserting statutory fraud, common law fraud and aiding and abetting statutory fraud and are seeking actual damages, exemplary damages, costs and attorney's fees and pre-judgment and post-judgment interest. On December 21, 2012, the court dismissed the Texas Litigation, a decision which was affirmed by the Ninth Court of Appeals of Texas on May 15, 2014. A subsequent motion for rehearing by MatlinPatterson was denied by the same appellate court on June 12, 2014. A petition for discretionary review in the Texas Supreme Court was denied by final order entered January 7, 2016. On July 14, 2014, the Banks demanded that we indemnify them for additional claims brought against them by certain other former Company stockholders in litigation filed June 14, 2014 in the United States District Court for the Eastern District of Wisconsin (the "Wisconsin Litigation"). The stockholders in the Wisconsin Litigation have made essentially the same allegations as MatlinPatterson made in the Texas Litigation and, additionally, have named Apollo Global Management LLC and Apollo Management Holdings, L.P. as defendants. Stockholder plaintiffs in the Wisconsin Litigation assert claims for misrepresentation and conspiracy to defraud. On April 9, 2015, the court denied the Banks' motions to dismiss the Wisconsin Litigation, which were on the same grounds asserted in the Texas Litigation, as moot. We expect the Banks to refile these motions once limited discovery related to jurisdiction is complete. We denied the Banks' indemnification demand for both the Texas Litigation and the Wisconsin Litigation. Other Proceedings We are a party to various other proceedings instituted by private plaintiffs, governmental authorities and others arising under provisions of applicable laws, including various environmental, products liability and other laws. Except as otherwise disclosed in this report, we do not believe that the outcome of any of these matters will have a material effect on our financial condition, results of operations or liquidity.

ENVIRONMENTAL, HEALTH AND SAFET

ENVIRONMENTAL, HEALTH AND SAFETY MATTERS	12 Months Ended
	Dec. 31, 2015
ENVIRONMENTAL, HEALTH AND SAFETY MATTERS
ENVIRONMENTAL, HEALTH AND SAFETY MATTERS	20. ENVIRONMENTAL, HEALTH AND SAFETY MATTERS EHS CAPITAL EXPENDITURES We may incur future costs for capital improvements and general compliance under EHS laws, including costs to acquire, maintain and repair pollution control equipment. For the years ended December 31, 2015, 2014 and 2013, our capital expenditures for EHS matters totaled $141 million, $125 million, and $92 million, respectively. Because capital expenditures for these matters are subject to evolving regulatory requirements and depend, in part, on the timing, promulgation and enforcement of specific requirements, our capital expenditures for EHS matters have varied significantly from year to year and we cannot provide assurance that our recent expenditures are indicative of future amounts we may spend related to EHS and other applicable laws. ENVIRONMENTAL RESERVES We have accrued liabilities relating to anticipated environmental cleanup obligations, site reclamation and closure costs and known penalties. Liabilities are recorded when potential liabilities are either known or considered probable and can be reasonably estimated. Our liability estimates are calculated using present value techniques as appropriate and are based upon requirements placed upon us by regulators, available facts, existing technology and past experience. The environmental liabilities do not include amounts recorded as asset retirement obligations. We had accrued $38 million and $60 million for environmental liabilities as of December 31, 2015 and 2014, respectively. Of these amounts, $6 million and $7 million were classified as accrued liabilities in our consolidated balance sheets as of December 31, 2015 and 2014, respectively, and $32 million and $53 million were classified as other noncurrent liabilities in our consolidated balance sheets as of December 31, 2015 and 2014, respectively. In certain cases, our remediation liabilities may be payable over periods of up to 30 years. We may incur losses for environmental remediation in excess of the amounts accrued; however, we are not able to estimate the amount or range of such potential excess. ENVIRONMENTAL MATTERS Under the Comprehensive Environmental Response, Compensation, and Liability Act ("CERCLA") and similar state laws, a current or former owner or operator of real property in the U.S. may be liable for remediation costs regardless of whether the release or disposal of hazardous substances was in compliance with law at the time it occurred, and a current owner or operator may be liable regardless of whether it owned or operated the facility at the time of the release. Outside the U.S., analogous contaminated property laws, such as those in effect in France and Australia, can hold past owners and/or operators liable for remediation at former facilities. Currently, there are approximately 10 former facilities or third-party sites in the U.S. for which we have been notified of potential claims against us for cleanup liabilities, including, but not limited to, sites listed under CERCLA. Based on current information and past experiences at other CERCLA sites, we do not expect these third-party claims to have a material impact on our consolidated financial statements. Under the Resource Conservation and Recovery Act ("RCRA") in the U.S. and similar state laws, we may be required to remediate contamination originating from our properties as a condition to our hazardous waste permit. Some of our manufacturing sites have an extended history of industrial chemical manufacturing and use, including on-site waste disposal. We are aware of soil, groundwater or surface contamination from past operations at some of our sites, and we may find contamination at other sites in the future. For example, our Port Neches, Texas, and Geismar, Louisiana, facilities are the subject of ongoing remediation requirements imposed under RCRA. Similar laws exist in a number of locations in which we currently operate, or previously operated, manufacturing facilities, such as Australia, India, France, Hungary and Italy. West Footscray Remediation By letter dated March 7, 2006, our former Base Chemicals and Polymers facility in West Footscray, Australia was issued a cleanup notice by the Environmental Protection Authority Victoria ("EPA Victoria") due to concerns about soil and groundwater contamination emanating from the site. On August 23, 2010, EPA Victoria revoked a second cleanup notice and issued a revised notice that included a requirement for financial assurance for the remediation. As of December 31, 2015, we had an accrued liability of approximately $17 million related to estimated environmental remediation costs at this site. We can provide no assurance that the authority will not seek to institute additional requirements for the site or that additional costs will not be required for the cleanup. North Maybe Mine Remediation The North Maybe Canyon Mine site is a CERCLA site and involves a former phosphorous mine near Soda Springs, Idaho, which is believed to have been operated by several companies, including a predecessor company to us. In 2004, the U.S. Forest Service notified us that we are a CERCLA PRP for contamination originating from the site. In February 2010, we and Wells Cargo (another PRP) agreed to conduct a Remedial Investigation/Feasibility Study of a portion of the site and are currently engaged in that process. At this time, we are unable to reasonably estimate our potential liabilities at this site. Port Neches Flaring Matter As part of the EPA's national enforcement initiative on flaring operations and by letter dated October 12, 2012, the U.S. Department of Justice (the "DOJ") notified us that we were in violation of the CAA based on our response to a 2010 CAA Section 114 Information Request. The EPA has used the enforcement initiative to bring similar actions against refiners and other chemical manufacturers and has sought to collect civil penalties in excess of $100,000. Specifically, the EPA alleged violations at our Port Neches, Texas facility from 2007-2012 for flare operations not consistent with good pollution control practice and not in compliance with certain flare-related regulations. As a result of these findings, the EPA referred this matter to the DOJ. We provided a formal response to the DOJ and the EPA with a supplemental data submission on April 29, 2013. We have been engaged in discussions with the DOJ and the EPA regarding these alleged violations and conducted field trials on an alternate flare monitoring method beginning in September 2014. We are currently unable to determine the likelihood or magnitude of any potential penalty or injunctive relief that may be incurred in resolving this matter.

HUNTSMAN CORPORATION STOCKHOLDE

HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY
HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY	21. HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY SHARE REPURCHASE PROGRAM On September 29, 2015, our Board of Directors authorized our Company to repurchase up to $150 million in shares of our common stock. Repurchases under this program may be made through open market transactions, in privately negotiated transactions, accelerated share repurchase programs or by other means. The timing and actual number of any shares repurchased depends on a variety of factors, including market conditions. The share repurchase authorization does not have an expiration date and repurchases may be commenced, suspended or discontinued from time to time without prior notice. On October 27, 2015, we entered into and funded an accelerated share repurchase agreement with Citibank, N.A. to repurchase $100 million of our common stock. Citibank, N.A. made an initial delivery of approximately 7.1 million shares of Huntsman Corporation common stock based on the closing price of $11.94 on October 27, 2015. The accelerated share repurchase agreement was completed in January 2016 with the delivery of an additional approximately 1.5 million shares of Huntsman Corporation common stock. The final number of shares repurchased and the aggregate cost per share was based on the Company's daily volume-weighted average stock price during the term of the transaction, less a discount. DIVIDENDS ON COMMON STOCK The following tables represent dividends on common stock for our Company for the years ended December 31, 2015 and 2014 (dollars in millions, except per share payment amounts): 2015 Quarter ended Per share payment amount Approximate amount paid March 31, 2015 $ $ June 30, 2015 September 30, 2015 December 31, 2015 2014 Quarter ended Per share payment amount Approximate amount paid March 31, 2014 $ $ June 30, 2014 September 30, 2014 December 31, 2014

STOCK-BASED COMPENSATION PLAN

STOCK-BASED COMPENSATION PLAN	12 Months Ended
	Dec. 31, 2015
STOCK-BASED COMPENSATION PLANS
STOCK-BASED COMPENSATION PLAN	22. STOCK-BASED COMPENSATION PLAN Under the Stock Incentive Plan, a plan approved by stockholders, we may grant non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, phantom stock, performance awards and other stock-based awards to our employees, directors and consultants and to employees and consultants of our subsidiaries, provided that incentive stock options may be granted solely to employees. The terms of the grants are fixed at the grant date. As of December 31, 2015 we were authorized to grant up to 37.2 million shares under the Stock Incentive Plan. As of December 31, 2015, we had 7 million shares remaining under the Stock Incentive Plan available for grant. Option awards have a maximum contractual term of 10 years and generally must have an exercise price at least equal to the market price of our common stock on the date the option award is granted. Stock-based awards generally vest over a three-year period; certain performance awards vest over a two-year period and awards to our directors vest on the grant date. The compensation cost from continuing operations under the Stock Incentive Plan for our Company and Huntsman International were as follows (dollars in millions): Year ended December 31, 2015 2014 2013 Huntsman Corporation compensation cost $ $ $ Huntsman International compensation cost The total income tax benefit recognized in the statement of operations for stock-based compensation arrangements was $6 million, $6 million and $7 million for the years ended December 31, 2015, 2014 and 2013, respectively. STOCK OPTIONS The fair value of each stock option award is estimated on the date of grant using the Black-Scholes valuation model that uses the assumptions noted in the following table. Expected volatilities are based on the historical volatility of our common stock through the grant date. The expected term of options granted was estimated based on the contractual term of the instruments and employees' expected exercise and post-vesting employment termination behavior. The risk-free rate for periods within the contractual life of the option was based on the U.S. Treasury yield curve in effect at the time of grant. The assumptions noted below represent the weighted averages of the assumptions utilized for all stock options granted during the year. Year ended December 31, 2015 2014 2013 Dividend yield Expected volatility Risk-free interest rate Expected life of stock options granted during the period 5.9 years 5.7 years 5.6 years A summary of stock option activity under the Stock Incentive Plan as of December 31, 2015 and changes during the year then ended is presented below: Option Awards Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (years) (in millions) Outstanding at January 1, 2015 $ Granted Exercised Forfeited ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at December 31, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at December 31, 2015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The weighted-average grant-date fair value of stock options granted during 2015, 2014 and 2013 was $9.81, $9.63 and $7.93 per option, respectively. As of December 31, 2015, there was $11 million of total unrecognized compensation cost related to nonvested stock option arrangements granted under the Stock Incentive Plan. That cost is expected to be recognized over a weighted-average period of approximately 1.8 years. During the years ended December 31, 2015, 2014 and 2013, the total intrinsic value of stock options exercised was approximately nil, $14 million and $14 million, respectively. NONVESTED SHARES Nonvested shares granted under the Stock Incentive Plan consist of restricted stock, which is accounted for as an equity award, and phantom stock, which is accounted for as a liability award because it can be settled in either stock or cash. During the first quarter of 2015, we began issuing performance awards to certain employees. The fair value of each performance award is estimated using a Monte Carlo simulation model that uses various assumptions, including an expected volatility rate and a risk-free interest rate. For the year ended December 31, 2015 the weighted-average expected volatility rate was 30.0% and the weighted average risk-free interest rate was 0.7%. For the performance awards granted during the year ended December 31, 2015, the number of shares earned varies based upon the Company achieving certain performance criteria over two-year and three-year performance periods. The performance criteria are total stockholder return of our common stock relative to the total stockholder return of a specified industry peer-group for the two-year and three-year performance periods. A summary of the status of our nonvested shares as of December 31, 2015 and changes during the year then ended is presented below: Equity Awards Liability Awards Weighted Average Grant-Date Fair Value Shares Shares Weighted Average Grant-Date Fair Value (in thousands) (in thousands) Nonvested at January 1, 2015 $ $ Granted Vested (1) Forfeited ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nonvested at December 31, 2015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) As of December 31, 2015, a total of 393,952 restricted stock units were vested but not yet issued, of which 29,645 vested during 2015. These shares have not been reflected as vested shares in this table because, in accordance with the restricted stock unit agreements, shares of common stock are not issued for vested restricted stock units until termination of employment. This table does reflect 29,921 vested restricted stock units for which shares of common stock were issued in 2015. As of December 31, 2015, there was $20 million of total unrecognized compensation cost related to nonvested share compensation arrangements granted under the Stock Incentive Plan. That cost is expected to be recognized over a weighted-average period of approximately 1.8 years. The value of share awards that vested during the years ended December 31, 2015, 2014 and 2013 was $20 million, $19 million and $18 million, respectively.

OTHER COMPREHENSIVE (LOSS) INCO

OTHER COMPREHENSIVE (LOSS) INCOME	12 Months Ended
	Dec. 31, 2015
OTHER COMPREHENSIVE (LOSS) INCOME
OTHER COMPREHENSIVE (LOSS) INCOME	23. OTHER COMPREHENSIVE (LOSS) INCOME Other comprehensive (loss) income consisted of the following (dollars in millions): Huntsman Corporation Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman Corporation Beginning balance, January 1, 2015 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) Tax expense ) ) — — ) — ) Amounts reclassified from accumulated other comprehensive loss, gross(c) — — — — Tax expense — ) — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2015 $ ) $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $90 and $47 as of December 31, 2015 and January 1, 2015, respectively. (b) Amounts are net of tax of $135 and $182 as of December 31, 2015 and January 1, 2015, respectively. (c) See table below for details about these reclassifications. Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman Corporation Beginning balance, January 1, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) ) ) Tax (expense) benefit ) — ) — Amounts reclassified from accumulated other comprehensive loss, gross(c) — ) — — ) — ) Tax benefit — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $47 and $13 as of December 31, 2014 and January 1, 2014, respectively. (b) Amounts are net of tax of $182 and $83 as of December 31, 2014 and January 1, 2014, respectively. (c) See table below for details about these reclassifications. Year ended December 31, 2015 Year ended December 31, 2014 Year ended December 31, 2013 Details about Accumulated Other Comprehensive Loss Components(a): Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Affected line item in the statement where net income is presented Amortization of pension and other postretirement benefits: Prior service credit $ $ $ (b) Actuarial loss ) ) ) (b)(c) Settlement loss — ) ) (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ) ) Total before tax Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total reclassifications for the period $ ) $ ) $ ) Net of tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. (b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 17. Employee Benefit Plans." (c) Amounts contain approximately $6 million, $4 million and $6 million of actuarial losses related to discontinued operations for the years ended December 31, 2015, 2014 and 2013, respectively. Huntsman International Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman International Beginning balance, January 1, 2015 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) Tax expense ) ) — — ) — ) Amounts reclassified from accumulated other comprehensive loss, gross(c) — — — — Tax expense — ) — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2015 $ ) $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $76 and $34 as of December 31, 2015 and January 1, 2015, respectively. (b) Amounts are net of tax of $163 and $211 as of December 31, 2015 and January 1, 2015, respectively. (c) See table below for details about these reclassifications. Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman International Beginning balance, January 1, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) ) ) Tax (expense) benefit ) — ) — Amounts reclassified from accumulated other comprehensive loss, gross(c) — ) — — ) — ) Tax benefit — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $34 and nil as of December 31, 2014 and January 1, 2014, respectively. (b) Amounts are net of tax of $211 and $113 as of December 31, 2014 and January 1, 2014, respectively. (c) See table below for details about these reclassifications. Year ended December 31, 2015 Year ended December 31, 2014 Year ended December 31, 2013 Details about Accumulated Other Comprehensive Loss Components(a): Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Affected line item in the statement where net income is presented Amortization of pension and other postretirement benefits: Prior service credit $ $ $ (b) Actuarial loss ) ) ) (b)(c) Settlement loss — ) ) (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ) ) Total before tax Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total reclassifications for the period $ ) $ ) $ ) Net of tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. (b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 17. Employee Benefit Plans." (c) Amounts contain approximately $6 million and $4 million and $6 million of actuarial losses related to discontinued operations for the years ended December 31, 2015, 2014 and 2013, respectively. Items of other comprehensive income (loss) of our Company and our consolidated affiliates have been recorded net of tax, with the exception of the foreign currency translation adjustments related to subsidiaries with earnings permanently reinvested. The tax effect is determined based upon the jurisdiction where the income or loss was recognized and is net of valuation allowances.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	24. RELATED PARTY TRANSACTIONS Our consolidated financial statements include the following transactions with our affiliates not otherwise disclosed (dollars in millions): Year ended December 31, 2015 2014 2013 Sales to: Unconsolidated affiliates $ $ $ Inventory purchases from: Unconsolidated affiliates Our subsidiary Airstar Corporation ("Airstar") subleases a Gulfstream IV-SP Aircraft (the "Aircraft") from Jstar Corporation ("Jstar"), a corporation wholly owned by Jon M. Huntsman pursuant to a lease arrangement that expires in 2021. Jon M. Huntsman is the Executive Chairman and the father of our Chief Executive Officer, Peter R. Huntsman and our Division President, Advanced Materials, James H. Huntsman. Under this arrangement, monthly sublease payments from Airstar to Jstar are approximately $120,000, and an aggregate of $8 million is payable through the end of the remaining six year lease term. These monthly sublease payments are equal to the financing costs paid by Jstar to a leasing company and the arrangement does not result in a financial benefit to Jstar. We occupy and use a portion of an office building owned by the Huntsman Foundation, a private charitable foundation established by Jon M. and Karen H. Huntsman to further the charitable interests of the Huntsman family, under a lease pursuant to which we make annual lease payments of approximately $2 million. During each of the years ended 2015, 2014 and 2013, we made payments of approximately $2 million to the Huntsman Foundation under the lease. The lease expires on December 31, 2018, subject to a five-year extension, at our option. Through May 2002, we paid the premiums on various life insurance policies for Jon M. Huntsman. These policies have been liquidated, and the cash values have been paid to Mr. Huntsman. Mr. Huntsman is indebted to us in the amount of approximately $2 million with accrued interest, which represents the insurance premiums paid on his behalf through May 2002. This amount is included in other noncurrent assets in our consolidated balance sheets. Effective August 31, 2015, we entered into a new Consulting Agreement with Jon M. Huntsman, Jr., one of our former directors and the former governor of Utah and U.S. Ambassador to Singapore and China. Pursuant to the new Consulting Agreement, Jon M. Huntsman, Jr. agreed to: provide strategic advice to senior management and the board of the Company on political, economic and business matters; support development and continued maintenance of the Company's high value customers and significant business relationships across all regions; support development and continued maintenance of governmental and business relationships in developing economic regions, particularly in connection with markets and opportunities in India, China and Southeast Asia; participate in negotiations and discussions with business executives and leaders, government officials and/or dignitaries; and participate in such other meetings or discussions as may be requested by senior management of the Company upon reasonable notice. In exchange for these services, we agree to pay Jon M. Huntsman, Jr. $50,000 per month through the term of the Consulting Agreement and up to $200,000 in additional compensation based on achievement of designated results as determined by the board. The new Consulting Agreement expires on August 31, 2016, subject to our right to extend the agreement for one year terms. Jon M. Huntsman, Jr. is the son of our Executive Chairman, Jon M. Huntsman and the brother of our Chief Executive Officer, Peter R. Huntsman, and Division President, Advanced Materials, James Huntsman.

OPERATING SEGMENT INFORMATION

OPERATING SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2015
OPERATING SEGMENT INFORMATION
OPERATING SEGMENT INFORMATION	25. OPERATING SEGMENT INFORMATION We derive our revenues, earnings and cash flows from the manufacture and sale of a wide variety of differentiated and commodity chemical products. We have reported our operations through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects and Pigments and Additives. We have organized our business and derived our operating segments around differences in product lines. The major products of each reportable operating segment are as follows: Segment Products Polyurethanes MDI, PO, polyols, PG, TPU, aniline and MTBE Performance Products amines, surfactants, LAB, maleic anhydride, other performance chemicals, EG, olefins and technology licenses Advanced Materials Basic liquid and solid epoxy resins; specialty resin compounds; cross-linking, matting and curing agents; epoxy, acrylic and polyurethane-based formulations Textile Effects textile chemicals, dyes and inks Pigments and Additives titanium dioxide, functional additives, color pigments, timber treatment and water treatment chemicals Sales between segments are generally recognized at external market prices and are eliminated in consolidation. We use 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 EBITDA of operating segments excludes items that principally apply to our Company as a whole. The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions): Year ended December 31, 2015 2014 2013 Revenues: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Eliminations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman Corporation: Segment EBITDA(1): Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations(3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest expense, net Income tax expense—continuing operations Income tax benefit—discontinued operations Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Depreciation and Amortization: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Capital Expenditures: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2015 2014 2013 Total Assets: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Huntsman International: Segment EBITDA(1): Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations(3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest expense, net Income tax expense—continuing operations Income tax benefit—discontinued operations Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Huntsman International $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Depreciation and Amortization: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Capital Expenditures: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2015 2014 2013 Total Assets: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items. (2) Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, non-operating income and expense, benzene sales and gains and losses on the disposition of corporate assets. (3) The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented. Year ended December 31, 2015 2014(2) 2013 By Geographic Area Revenues(1): United States $ $ $ China Mexico Germany Other nations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2015 2014 2013 Long-lived assets(3): Huntsman Corporation United States $ $ $ Germany The Netherlands United Kingdom China Italy Other nations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International United States $ $ $ Germany The Netherlands United Kingdom China Italy Other nations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Geographic information for revenues is based upon countries into which product is sold. (2) Subsequent to the issuance of the Company's 2014 financial statements, revenues by geographic area were corrected to properly reflect intercompany sales eliminations. (3) Long-lived assets consist of property, plant and equipment, net.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL	12 Months Ended
	Dec. 31, 2015
Huntsman International
CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL
CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL	26. CONDENSED CONSOLIDATING FINANCIAL INFORMATION—HUNTSMAN INTERNATIONAL The following condensed consolidating financial statements present, in separate columns, financial information for the following: Huntsman International (on a parent only basis), with its investment in subsidiaries recorded under the equity method; the Guarantors on a combined, and where appropriate, consolidated basis; and the nonguarantors on a combined, and where appropriate, consolidated basis. Additional columns present eliminating adjustments and consolidated totals as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013. There are no contractual restrictions limiting transfers of cash from Guarantor subsidiaries to Huntsman International. Each of the Guarantors is 100% owned by Huntsman International and has fully and unconditionally guaranteed Huntsman International's outstanding notes on a joint and several basis. In connection with the financing of the Rockwood Acquisition, we added four new guarantor entities. HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS AS OF DECEMBER 31, 2015 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC ASSETS Current assets: Cash and cash equivalents $ $ $ $ — $ Restricted cash — — — Accounts and notes receivable, net Accounts receivable from affiliates Inventories Prepaid expenses Other current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets Property, plant and equipment, net Investment in unconsolidated affiliates Intangible assets, net — Goodwill — Deferred income taxes — Notes receivable from affiliates — Other noncurrent assets — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY Current liabilities: Accounts payable $ $ $ $ $ Accounts payable to affiliates Accrued liabilities Note payable to affiliate — — — Current portion of debt — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities Long-term debt — — Notes payable to affiliates — Deferred income taxes Other noncurrent liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities Equity Huntsman International LLC members' equity Members' equity Accumulated (deficit) income Accumulated other comprehensive (loss) income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Huntsman International LLC members' equity Noncontrolling interests in subsidiaries — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and equity $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ $ $ $ — $ Restricted cash — — — Accounts and notes receivable, net Accounts receivable from affiliates Inventories Prepaid expenses Deferred income taxes — Other current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets Property, plant and equipment, net Investment in unconsolidated affiliates Intangible assets, net — Goodwill — Deferred income taxes — Notes receivable from affiliates — — Other noncurrent assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY Current liabilities: Accounts payable $ $ $ $ $ Accounts payable to affiliates Accrued liabilities Deferred income taxes — Note payable to affiliate — — — Current portion of debt — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities Long-term debt — — Notes payable to affiliates — Deferred income taxes Other noncurrent liabilities — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities Equity Huntsman International LLC members' equity Members' equity Accumulated (deficit) income Accumulated other comprehensive (loss) income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Huntsman International LLC members' equity Noncontrolling interests in subsidiaries — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and equity $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME YEAR ENDED DECEMBER 31, 2015 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Revenues: Trade sales, services and fees, net $ $ $ $ — $ Related party sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenues Cost of goods sold ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative — Research and development — Other operating (income) expense — — Restructuring, impairment and plant closing costs — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income (loss) Interest (expense) income — Equity in income (loss) of investment in affiliates and subsidiaries Loss on early extinguishment of debt — — — Other income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) income from continuing operations before income taxes Income tax benefit (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from continuing operations Income (loss) from discontinued operations, net of tax — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) Net income attributable to noncontrolling interests — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Huntsman International LLC $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ $ $ $ Other comprehensive loss Comprehensive income attributable to noncontrolling interests — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive (loss) income attributable to Huntsman International LLC $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ $ $ $ — $ Related party sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenues ) Cost of goods sold ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative — Research and development — Other operating (income) expense ) ) — ) Restructuring, impairment and plant closing costs — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income Interest (expense) income ) ) — ) Equity in income (loss) of investment in affiliates and subsidiaries ) ) Loss on early extinguishment of debt ) — — — ) Other income (loss) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from continuing operations before income taxes ) ) Income tax benefit (expense) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ) ) Income (loss) from discontinued operations, net of tax — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) ) Net income attributable to noncontrolling interests — — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Huntsman International LLC $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ $ ) $ ) $ Other comprehensive (loss) income ) ) ) Comprehensive income attributable to noncontrolling interests — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive (loss) income attributable to Huntsman International LLC $ ) $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) YEAR ENDED DECEMBER 31, 2013 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Revenues: Trade sales, services and fees, net $ $ $ $ — $ Related party sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenues ) Cost of goods sold ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ) Selling, general and administrative — Research and development — Other operating (income) expense ) ) — Restructuring, impairment and plant closing costs — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income (loss) ) ) Interest (expense) income, net ) ) — ) Equity in income (loss) of investment in affiliates and subsidiaries ) Loss on early extinguishment of debt ) — — — ) Other income — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) income from continuing operations before income taxes ) ) Income tax benefit (expense) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from continuing operations ) ) Income (loss) from discontinued operations, net of tax ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) ) Net income attributable to noncontrolling interests — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Huntsman International LLC $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ $ ) $ ) $ Other comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) attributable to Huntsman International LLC $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2015 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Net cash (used in) provided by operating activities $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing activities: Capital expenditures ) ) ) — ) Cash received from unconsolidated affiliates — — — Investment in affiliate ) ) — Investment in unconsolidated affiliates — ) ) — ) Acquisition of businesses, net of cash acquired — — ) — ) Cash received from purchase price adjustment for business acquired — — — Proceeds from sale of businesses/assets — — — Increase in receivable from affiliate — — — Cash received from termination of cross-currency interest rate contracts — — — Change in restricted cash — — ) — ) Other, net — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) investing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing activities: Net repayments under revolving loan facilities — — ) — ) Net borrowings on overdraft facilities — — ) — ) Borrowings on short-term debt — — — Repayments of long-term debt ) — ) — ) Proceeds from issuance of long-term debt — — — Repayments of notes payable to affiliate ) — — — ) Proceeds from notes payable to affiliate — — ) Repayments of notes payable ) — ) — ) Borrowings on notes payable — — Debt issuance costs paid ) — — — ) Call premiums related to early extinguishment of debt ) — — — ) Contingent consideration paid for acquisition ) — — — ) Dividends paid to noncontrolling intrests — — ) — ) Contribution from parent — ) — Distribution to parent — ) ) — Dividends paid to parent ) ) — ) Excess tax benefit related to stock-based compensation — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities ) ) ) ) Effect of exchange rate changes on cash — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Decrease in cash and cash equivalents ) ) ) — ) Cash and cash equivalents at beginning of period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During the first quarter of 2015, we made a noncash capital contribution of approximately $284 million between guarantor and nonguarantor entities and a noncash capital contribution of approximately $123 million between parent and guarantor entities. HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2014 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Net cash provided by operating activities $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing activities: Capital expenditures — Cash received from unconsolidated affiliates — — Investment in affiliate — — Investment in unconsolidated affiliates — — Acquisition of businesses, net of cash acquired — — Proceeds from sale of businesses/assets — — Increase in receivable from affiliate — — — Other, net — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing activities: Net repayments under revolving loan facilities — — — Net borrowings on overdraft facilities — — — Repayments of short-term debt — — — Borrowings on short-term debt — — — Repayments of long-term debt — — Proceeds from issuance of long-term debt — — — Repayments of notes payable to affiliate — — — Repayments of notes payable — — Borrowings on notes payable — — Debt issuance costs paid — — — Call premiums related to early extinguishment of debt — — — Contingent consideration paid for acquisition — — — Contribution from parent — — Dividends paid to noncontrolling interests — — — Distribution to parent — — Dividends paid to parent — Excess tax benefit related to stock-based compensation — — — Other, net — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities Effect of exchange rate changes on cash — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Increase in cash and cash equivalents — Cash and cash equivalents at beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ $ $ $— $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During the third quarter of 2014, we made a noncash capital contribution of $116 million between guarantor and nonguarantor entities. HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2013 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Net cash provided by operating activities $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing activities: Capital expenditures — Cash received from unconsolidated affiliates — — — Investment in affiliate — — Investment in unconsolidated affiliates — — Acquisition of a business, net of cash acquired — — — Proceeds from sale of businesses/assets — — — Increase in receivable from affiliate — — — Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing activities: Net repayments under revolving loan facilities — — — Net borrowings on overdraft facilities — — — Repayments of short-term debt — — — Borrowings on short-term debt — — — Repayments of long-term debt — — Proceeds from issuance of long-term debt — — Proceeds from notes payable to affiliate — — — Repayments of notes payable — — Borrowings on notes payable — — Debt issuance costs paid — — — Call premiums and other costs related to early extinguishment of debt — — — Contribution from parent — — Distribution to parent — — — Dividends paid to parent — Excess tax benefit related to stock-based compensation — — — Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities Effect of exchange rate changes on cash — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Increase (decrease) in cash and cash equivalents — Cash and cash equivalents at beginning of period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ $— $ $— $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SELECTED UNAUDITED QUARTERLY FI

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2015
SELECTED UNAUDITED QUARTERLY FINANCIAL DATA
SELECTED UNAUDITED QUARTERLY FINANCIAL DATA	27. SELECTED UNAUDITED QUARTERLY FINANCIAL DATA A summary of selected unaudited quarterly financial data for the years ended December 31, 2015 and 2014 is as follows (dollars in millions, except per share amounts): Huntsman Corporation Three months ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015(1) Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income from continuing operations Net income Net income attributable to Huntsman Corporation Basic income per share(3): Income from continuing operations attributable to Huntsman Corporation common stockholders Net income attributable to Huntsman Corporation common stockholders Diluted income per share(3): Income from continuing operations attributable to Huntsman Corporation common stockholders Net income attributable to Huntsman Corporation common stockholders Three months ended March 31, 2014 June 30, 2014 September 30, 2014(2) December 31, 2014 Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income (loss) from continuing operations Net income (loss) Net income (loss) attributable to Huntsman Corporation Basic income (loss) per share(3): Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders Net income (loss) attributable to Huntsman Corporation common stockholders Diluted income (loss) per share(3): Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders Net income (loss) attributable to Huntsman Corporation common stockholders Huntsman International Three months ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015(1) Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income from continuing operations Net income Net income attributable to Huntsman International Three months ended March 31, 2014 June 30, 2014 September 30, 2014(2) December 31, 2014 Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income (loss) from continuing operations Net income (loss) Net income (loss) attributable to Huntsman International (1) During the three months ended December 31, 2015, we declared a dividend from our non-U.S. operations to the U.S., which included bringing onshore certain U.S. foreign tax credits. The foreign tax credits brought onshore exceeded the amount needed to offset the cash tax impact of the dividend, as well as enough to allow us to carry $14 million of foreign tax credits back to a prior year and claim a refund. During 2015, a number of our intercompany liabilities that were denominated in U.S. dollars were owed by entities whose tax currency was the euro. As a result of the depreciation in the euro opposite the U.S. dollar, these entities recorded a tax only foreign exchange loss. Most of the intercompany receivables associated with these same U.S. dollar denominated intercompany debts were held by entities with a tax currency of the U.S. dollar which, therefore, resulted in no taxable gain. This resulted in a $33 million tax benefit ($58 million, net of $25 million of contingent liabilities and valuation allowances) in the fourth quarter of 2015. (2) During the three months ended September 30, 2014, as a result of extensive research and analysis, we filed amended U.S. tax returns for tax years 2008 through 2012, along with our original U.S. tax return for tax year 2013, and made elections which allowed us to utilize U.S. foreign tax credits. As a result of utilizing these assets that had been subject to a valuation allowance, we recognized a discrete income tax benefit of $94 million in the third quarter of 2014. (3) Basic and diluted income per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.

Schedule I-Condensed Financial

Schedule I-Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2015
Schedule I - Condensed Financial Information of Registrant
Schedule I-Condensed Financial Information of Registrant	HUNTSMAN CORPORATION (PARENT ONLY) Schedule I—Condensed Financial Information of Registrant HUNTSMAN CORPORATION (Parent Only) BALANCE SHEETS (In Millions, Except Share and Per Share Amounts) December 31, 2015 2014 ASSETS Cash and cash equivalents $ — $ Receivable from affiliate Note receivable from affiliate ​ ​ ​ ​ ​ ​ ​ ​ Total current assets Note receivable from affiliate-long-term Investment in and advances to affiliates ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND STOCKHOLDERS' EQUITY Payable to affiliate $ $ Accrued liabilities ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities Other long-term liabilities ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ​ ​ ​ ​ ​ ​ ​ ​ STOCKHOLDERS' EQUITY Common stock $0.01 par value, 1,200,000,000 shares authorized, 249,483,541 and 248,893,036 issued and 237,080,026 and 243,416,979 outstanding in 2015 and 2014, respectively Additional paid-in capital Treasury stock, 11,162,454 and 4,043,526 shares in 2015 and 2014, respectively Unearned stock-based compensation Accumulated deficit Accumulated other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF OPERATIONS (In Millions) Year ended December 31, 2015 2014 2013 Selling, general and administrative $ $ $ Interest income Equity in (loss) income of subsidiaries Dividend income—affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (In Millions) Year ended December 31, 2015 2014 2013 Net income $ $ $ Other comprehensive (loss) income, net of tax: Foreign currency translations adjustments Pension and other postretirement benefits adjustments Other, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income, net of tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive (loss) income Comprehensive income attributable to noncontrolling interests ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive (loss) income attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF STOCKHOLDERS' EQUITY (In Millions, Except Share Amounts) Huntsman Corporation Stockholders' Equity Shares Accumulated other comprehensive loss Common stock Common stock Additional paid-in capital Treasury stock Unearned stock-based compensation Accumulated deficit Total equity Balance, January 1, 2013 $ 2 $ $ $ (12) $ (687) $ (744) $ Net income — — — — — — Other comprehensive income — — — — — — Issuance of nonvested stock awards — — — — — — Vesting of stock awards — — — — — Recognition of stock-based compensation — — — — — Repurchase and cancellation of stock awards — — — — — Stock options exercised — — — — — Excess tax benefit related to stock-based compensation — — — — — — Accrued and unpaid dividends — — — — — — Dividends declared on common stock — — — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2013 Net income — — — — — — Other comprehensive loss — — — — — — Issuance of nonvested stock awards — — — — — — Vesting of stock awards — — — — — Recognition of stock-based compensation — — — — — Repurchase and cancellation of stock awards — — — — — Stock options exercised — — — — Excess tax benefit related to stock-based compensation — — — — — — Accrued and unpaid dividends — — — — — — Dividends declared on common stock — — — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2014 Net income — — — — — — Other comprehensive loss — — — — — — Issuance of nonvested stock awards — — — — — — Vesting of stock awards — — — — — Recognition of stock-based compensation — — — — — Repurchase and cancellation of stock awards — — — — — Stock options exercised — — — — — Excess tax benefit related to stock-based compensation — — — — — — Cash paid for noncontrolling interest — — — — — — Treasury stock repurchased — — — — Dividends declared on common stock — — — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2015 $ 3 $ $ $ (17) $ (528) $ (1,288) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ This statement should be read in conjunction with the notes to the consolidated financial statements. HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF CASH FLOWS (In Millions) Year ended December 31, 2015 2014 2013 Operating Activities: Net income $ $ $ Equity in loss (income) of subsidiaries Stock-based compensation Noncash interest (income) expense Changes in operating assets and liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by operating activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing Activities: Loan to affiliate — Repayments of loan by affiliate — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash (used in) provided by investing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing Activities: Dividends paid to common stockholders Repurchase and cancellation of stock awards Proceeds from issuance of common stock Repurchase of common stock — — (Decrease) increase in payable to affiliates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of period ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ — $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ This statement should be read in conjunction with the notes to the consolidated financial statements.

Schedule II-Valuation and Quali

Schedule II-Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts
Schedule II-Valuation and Qualifying Accounts	HUNTSMAN CORPORATION AND SUBSIDIARIES Schedule II—Valuation and Qualifying Accounts (In Millions) Column A Column B Column C Column D Column E Additions Description Balance at Beginning of Period Charges (credits) to cost and expenses Charged to other accounts Deductions Balance at End of Period Allowance for doubtful accounts: Year ended December 31, 2015 $ $ $ $ — Year ended December 31, 2014 — — Year ended December 31, 2013 —
Huntsman International
Valuation and Qualifying Accounts
Schedule II-Valuation and Qualifying Accounts	HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES Schedule II—Valuation and Qualifying Accounts (In Millions) Column A Column B Column C Column D Column E Additions Description Balance at Beginning of Period Charges (credits) to cost and expenses Charged to other accounts Deductions Balance at End of Period Allowance for doubtful accounts: Year ended December 31, 2015 $ $ $ $ — $ Year ended December 31, 2014 — — Year ended December 31, 2013 —

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ASSET RETIREMENT OBLIGATIONS	ASSET RETIREMENT OBLIGATIONS We accrue for asset retirement obligations, which consist primarily of landfill capping, closure and post-closure costs, asbestos abatement costs, demolition and removal costs and leasehold remediation costs, in the period in which the obligations are incurred. Asset retirement obligations are accrued at estimated fair value. When the liability is initially recorded, we capitalize the cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its estimated settlement value and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, we will recognize a gain or loss for any difference between the settlement amount and the liability recorded.
CARRYING VALUE OF LONG-LIVED ASSETS	CARRYING VALUE OF LONG-LIVED ASSETS We review long-lived assets and all amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable. Recoverability is based upon current and anticipated undiscounted cash flows, and we recognize an impairment when such estimated cash flows are less than the carrying value of the asset. Measurement of the amount of impairment, if any, is based upon the difference between carrying value and fair value. Fair value is generally estimated by discounting estimated future cash flows using a discount rate commensurate with the risks involved or selling price of assets held for sale. See "Note 11. Restructuring, Impairment and Plant Closing Costs."
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS We consider cash in checking accounts and cash in short-term highly liquid investments with remaining maturities of three months or less at the date of purchase, to be cash and cash equivalents. Cash flows from discontinued operations are not presented separately in our consolidated statements of cash flows.
COST OF GOODS SOLD	COST OF GOODS SOLD We classify the costs of manufacturing and distributing our products as cost of goods sold. Manufacturing costs include variable costs, primarily raw materials and energy, and fixed expenses directly associated with production. Manufacturing costs also include, among other things, plant site operating costs and overhead (including depreciation), production planning and logistics costs, repair and maintenance costs, plant site purchasing costs, and engineering and technical support costs. Distribution, freight and warehousing costs are also included in cost of goods sold.
DERIVATIVES AND HEDGING ACTIVITIES	DERIVATIVES AND HEDGING ACTIVITIES All derivatives, whether designated in hedging relationships or not, are recorded on our balance sheet at fair value. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and the hedged items are recognized in earnings. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded in accumulated other comprehensive loss, to the extent effective, and will be recognized in the income statement when the hedged item affects earnings. Changes in the fair value of the hedge in the net investment of certain international operations are recorded in other comprehensive income (loss), to the extent effective. The effectiveness of a cash flow hedging relationship is established at the inception of the hedge, and after inception we perform effectiveness assessments at least every three months. A derivative designated as a cash flow hedge is determined to be effective if the change in value of the hedge divided by the change in value of the hedged item is within a range of 80% to 125%. Hedge ineffectiveness in a cash flow hedge occurs only if the cumulative gain or loss on the derivative hedging instrument exceeds the cumulative change in the expected future cash flows on the hedged transaction. For a derivative that does not qualify or has not been designated as a hedge, changes in fair value are recognized in earnings.
ENVIRONMENTAL EXPENDITURES	ENVIRONMENTAL EXPENDITURES Environmental related restoration and remediation costs are recorded as liabilities when site restoration and environmental remediation and clean-up obligations are either known or considered probable and the related costs can be reasonably estimated. Other environmental expenditures that are principally maintenance or preventative in nature are recorded when expended and incurred and are expensed or capitalized as appropriate. See "Note 20. Environmental, Health and Safety Matters."
FOREIGN CURRENCY TRANSLATION	FOREIGN CURRENCY TRANSLATION The accounts of our operating subsidiaries outside of the U.S., unless they are operating in highly inflationary economic environments, consider the functional currency to be the currency of the economic environment in which they operate. Accordingly, assets and liabilities are translated at rates prevailing at the balance sheet date. Revenues, expenses, gains and losses are translated at a weighted average rate for the period. Cumulative translation adjustments are recorded to equity as a component of accumulated other comprehensive loss. If a subsidiary operates in an economic environment that is considered to be highly inflationary (100% cumulative inflation over a three-year period), the U.S. dollar is considered to be the functional currency and gains and losses from remeasurement to the U.S. dollar from the local currency are included in the statement of operations. Where a subsidiary's operations are effectively run, managed, financed and contracted in U.S. dollars, such as certain finance subsidiaries outside of the U.S., the U.S. dollar is considered to be the functional currency. Foreign currency transaction gains and losses are recorded in other operating (income) expense in our consolidated statements of operations and were net losses of $7 million, $15 million and $11 million for the years ended December 31, 2015, 2014 and 2013, respectively.
INCOME TAXES	INCOME TAXES We use the asset and liability method of accounting for income taxes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial and tax reporting purposes. We evaluate deferred tax assets to determine whether it is more likely than not that they will be realized. Valuation allowances are reviewed on a tax jurisdiction basis to analyze whether there is sufficient positive or negative evidence to support a change in judgment about the realizability of the related deferred tax assets for each jurisdiction. These conclusions require significant judgment. In evaluating the objective evidence that historical results provide, we consider the cyclicality of businesses and cumulative income or losses during the applicable period. Cumulative losses incurred over the period limits our ability to consider other subjective evidence such as our projections for the future. Changes in expected future income in applicable jurisdictions could affect the realization of deferred tax assets in those jurisdictions. We do not provide for income taxes or benefits on the undistributed earnings of our non-U.S. subsidiaries that are reinvested and, in the opinion of management, will continue to be reinvested indefinitely. Accounting for uncertainty in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The application of income tax law is inherently complex. We are required to determine if an income tax position meets the criteria of more-likely-than-not to be realized based on the merits of the position under tax law, in order to recognize an income tax benefit. This requires us to make significant judgments regarding the merits of income tax positions and the application of income tax law. Additionally, if a tax position meets the recognition criteria of more-likely-than-not we are required to make judgments and apply assumptions to measure the amount of the tax benefits to recognize. These judgments are based on the probability of the amount of tax benefits that would be realized if the tax position was challenged by the taxing authorities. Interpretations and guidance surrounding income tax laws and regulations change over time. As a consequence, changes in assumptions and judgments can materially affect amounts recognized in our consolidated financial statements.
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible assets are stated at cost (fair value at the time of acquisition) and are amortized using the straight-line method over the estimated useful lives or the life of the related agreement as follows: Patents and technology 5 - 30 years Trademarks 9 - 30 years Licenses and other agreements 5 - 15 years Other intangibles 5 - 15 years Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to any method of amortization, but is tested for impairment annually (at the beginning of the third quarter) and when events and circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. When the fair value is less than the carrying value of the related reporting unit, we are required to reduce the amount of goodwill through a charge to earnings. Fair value is estimated using the market approach, as well as the income approach based on discounted cash flow projections. Goodwill has been assigned to reporting units for purposes of impairment testing. The net change to goodwill in response to changes in foreign currency exchange rates during 2015 was $6 million.
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost or market, with cost determined using LIFO, first-in first-out, and average costs methods for different components of inventory.
LEGAL COSTS	LEGAL COSTS We expense legal costs, including those legal costs incurred in connection with a loss contingency, as incurred.
NET INCOME PER SHARE ATTRIBUTABLE TO HUNTSMAN CORPORATION	NET INCOME PER SHARE ATTRIBUTABLE TO HUNTSMAN CORPORATION Basic income per share excludes dilution and is computed by dividing net income attributable to Huntsman Corporation common stockholders by the weighted average number of shares outstanding during the period. Diluted income per share reflects all potential dilutive common shares outstanding during the period and is computed by dividing net income available to Huntsman Corporation common stockholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding as dilutive securities. Basic and diluted income per share is determined using the following information (in millions): Year Ended December 31, 2015 2014 2013 Numerator: Basic and diluted income from continuing operations: Income from continuing operations attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income: Net income attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares (denominator): Weighted average shares outstanding Dilutive securities: Stock-based awards ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total weighted average shares outstanding, including dilutive shares ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additional stock-based awards of 6.1 million, 1.0 million and 7.3 million weighted average equivalent shares of stock were outstanding during the years ended December 31, 2015, 2014 and 2013, respectively. However, these stock-based awards were not included in the computation of diluted earnings per share for the respective periods mentioned because the effect would be anti-dilutive.
OTHER NONCURRENT ASSETS	OTHER NONCURRENT ASSETS Other noncurrent assets consist primarily of spare parts, the overfunded portion related to defined benefit plans for employees and capitalized turnaround costs.
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION Our consolidated financial statements include the accounts of our wholly owned and majority owned subsidiaries and any variable interest entities for which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated.
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives or lease term as follows: Buildings and equipment 5 - 50 years Plant and equipment 3 - 30 years Furniture, fixtures and leasehold improvements 5 - 20 years Interest expense capitalized as part of plant and equipment was $22 million, $16 million and $7 million for the years ended December 31, 2015, 2014 and 2013, respectively. Periodic maintenance and repairs applicable to major units of manufacturing facilities (a "turnaround") are accounted for on the deferral basis by capitalizing the costs of the turnaround and amortizing the costs over the estimated period until the next turnaround. Normal maintenance and repairs of plant and equipment are charged to expense as incurred. Renewals, betterments and major repairs that materially extend the useful life of the assets are capitalized, and the assets replaced, if any, are retired.
RECLASSIFICATIONS	RECLASSIFICATIONS Certain amounts in the consolidated financial statements for prior periods have been reclassified to conform with the current presentation. Effective October 1, 2015, we retroactively applied, and information in this report reflects, the presentation and disclosure requirements of ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . See "—Recently Issued Accounting Pronouncements."
REVENUE RECOGNITION	REVENUE RECOGNITION We generate substantially all of our revenues through sales in the open market and long-term supply agreements. We recognize revenue when it is realized or realizable and earned. Revenue for product sales is recognized when a sales arrangement exists, risk and title to the product transfer to the customer, collectability is reasonably assured and pricing is fixed or determinable. The transfer of risk and title to the product to the customer usually occurs at the time shipment is made.
SECURITIZATION OF ACCOUNTS RECEIVABLE	SECURITIZATION OF ACCOUNTS RECEIVABLE Under our A/R Programs, we grant an undivided interest in certain of our trade receivables to the U.S. SPE and the EU SPE. This undivided interest serves as security for the issuance of debt. The A/R Programs provide for financing in both U.S. dollars and euros. The amounts outstanding under our A/R Programs are accounted for as secured borrowings. See "Note 14. Debt—Direct and Subsidiary Debt—A/R Programs."
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost will be recognized over the period during which the employee is required to provide services in exchange for the award. See "Note 22. Stock-Based Compensation Plan."
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Accounting Pronouncements Adopted During 2015 In April 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , changing the criteria for reporting discontinued operations and enhancing reporting requirements for discontinued operations. A disposal of a component of an entity or a group of components of an entity will be required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. Further, the amendments in this ASU will require an entity to present, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections, respectively, of the statement of financial position. The amendments in this ASU are effective prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years, and for all businesses that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. We adopted the amendments in this ASU effective January 1, 2015, and the initial adoption of the amendments in this ASU did not have a significant impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts, and that amortization of debt issuance costs shall be reported as interest expense. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early application permitted. Entities would apply the new guidance retrospectively to all prior periods. We adopted the amendments in this ASU effective October 1, 2015 and have presented debt issuance costs as a direct deduction from the carrying amount of debt in our consolidated financial statements retrospectively to all prior periods. Debt issuance costs were previously presented as other noncurrent assets in our consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments . The amendments in this ASU require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the current reporting period in which the adjustment amounts are determined and calculated as if the accounting had been completed at the acquisition date. The amendments in this ASU also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The amendments in this ASU should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this ASU with earlier application permitted for financial statements that have not been issued. We adopted the amendments in this ASU effective October 1, 2015, and the initial adoption of the amendments in this ASU did not have a significant impact on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this ASU are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in this ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We adopted the amendments in this ASU effective October 1, 2015 and have classified, on a prospective basis, all deferred tax liabilities and assets as noncurrent on our consolidated financial statements. Accounting Pronouncements Pending Adoption in Future Periods In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , outlining a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and supersedes most current revenue recognition guidance. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , deferring the effective date of ASU No. 2014-09 for all entities by one year. The amendments in these ASUs are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amendments in ASU No. 2014-09 should be applied retrospectively, and early application is permitted. We are currently evaluating the impact of the adoption of the amendments in ASU No. 2014-09 on our consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, providing guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In January 2015, the FASB issued ASU No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items , eliminating from US GAAP the concept of extraordinary items. Reporting entities will no longer have to assess whether a particular event or transaction event is extraordinary. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively or may also apply them retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . The amendments in this ASU change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities by placing more emphasis on risk of loss when determining a controlling financial interest. These amendments affect areas specific to limited partnerships and similar legal entities, evaluating fees paid to a decision maker or service provider as a variable interest, the effects of both fee arrangements and related parties on the primary beneficiary determination and certain investment funds. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments retrospectively or using a modified retrospective approach. Early adoption is permitted, including adoption in an interim period provided that any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement . The amendments in this ASU provide guidance that will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement, including whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license consistent with the acquisition of other software licenses; otherwise, the customer should account for the arrangement as a service contract. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Entities can elect to adopt the amendments either prospectively to all arrangements entered into after the effective date or retrospectively to all prior periods. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . The amendments in this ASU do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method, but rather does apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments in this ASU should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The amendments in this ASU require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption of the amendments in the ASU is not permitted. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values (including disclosure requirements) should be applied prospectively to equity investments that exist as of the date of adoption. We do not expect the adoption of the amendments in this ASU to have a significant impact on our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of estimated useful lives of intangible assets	Patents and technology 5 - 30 years Trademarks 9 - 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, 2015 2014 2013 Numerator: Basic and diluted income from continuing operations: Income from continuing operations attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income: Net income attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares (denominator): Weighted average shares outstanding Dilutive securities: Stock-based awards ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total weighted average shares outstanding, including dilutive shares ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of estimated useful lives or lease term of property, plant and equipment	Buildings and equipment 5 - 50 years Plant and equipment 3 - 30 years Furniture, fixtures and leasehold improvements 5 - 20 years

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Rockwood Holdings, Inc
Business Combinations
Allocation of acquisition cost to the assets acquired and liabilities assumed	The allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions): Cash paid for Rockwood Acquisition in 2014 $ Purchase price adjustment received in 2015 ) ​ ​ ​ ​ ​ Net acquisition cost $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of assets acquired and liabilities assumed: Cash $ Accounts receivable Inventories Prepaid expenses and other current assets Property, plant and equipment Intangible assets Deferred income taxes, non-current Other assets Accounts payable ) Accrued expenses and other current liabilities ) Long-term debt, non-current ) Pension and related liabilities ) Deferred income taxes, non-current ) Other liabilities ) ​ ​ ​ ​ ​ Total fair value of net assets acquired ​ ​ ​ ​ ​ Noncontrolling interest ) ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Estimated pro forma revenues and net income	If the Rockwood Acquisition were to have occurred on January 1, 2013, the following estimated pro forma revenues and net income attributable to Huntsman Corporation and Huntsman International would have been reported (dollars in millions, except per share amounts): Pro Forma Year ended December 31, (Unaudited) 2014 2013 Revenues $ $ Net income attributable to Huntsman Corporation Income per share: Basic $ $ Diluted
Rockwood Holdings, Inc | Huntsman International
Business Combinations
Estimated pro forma revenues and net income	If the Rockwood Acquisition were to have occurred on January 1, 2013, the following estimated pro forma revenues and net income attributable to Huntsman Corporation and Huntsman International would have been reported (dollars in millions, except per share amounts): Pro Forma Year ended December 31, (Unaudited) 2014 2013 Revenues $ $ Net income attributable to Huntsman International
Oxid
Business Combinations
Allocation of acquisition cost to the assets acquired and liabilities assumed	The allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions): Cash paid for acquisition $ Contingent consideration ​ ​ ​ ​ ​ Acquisition cost $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of assets acquired and liabilities assumed: Accounts receivable $ Inventories Property, plant and equipment Intangible assets Accounts payable ) Accrued liabilities ) ​ ​ ​ ​ ​ Total fair value of net assets acquired $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Estimated pro forma revenues and net income	If the Oxid Acquisition were to have occurred on January 1, 2013, the following estimated pro forma revenues and net income attributable to Huntsman Corporation and Huntsman International would have been reported (dollars in millions, except per share amounts): Pro Forma Year ended December 31, 2013 (Unaudited) Revenues $ Net income attributable to Huntsman Corporation Income per share: Basic $ Diluted
Oxid | Huntsman International
Business Combinations
Estimated pro forma revenues and net income	If the Oxid Acquisition were to have occurred on January 1, 2013, the following estimated pro forma revenues and net income attributable to Huntsman Corporation and Huntsman International would have been reported (dollars in millions, except per share amounts): Pro Forma Year ended December 31, 2013 (Unaudited) Revenues $ Net income attributable to Huntsman International

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2015
INVENTORIES
Components of inventory	Inventories consisted of the following (dollars in millions): December 31, 2015 2014 Raw materials and supplies $ $ Work in progress Finished goods ​ ​ ​ ​ ​ ​ ​ ​ Total LIFO reserves ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net inventories $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment
Schedule of property, plant and equipment	The cost and accumulated depreciation of property, plant and equipment were as follows (dollars in millions): December 31, 2015 2014 Land $ $ Buildings Plant and equipment Construction in progress ​ ​ ​ ​ ​ ​ ​ ​ Total Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Huntsman International
Property, Plant and Equipment
Schedule of property, plant and equipment	The cost and accumulated depreciation of property, plant and equipment were as follows (dollars in millions): December 31, 2015 2014 Land $ $ Buildings Plant and equipment Construction in progress ​ ​ ​ ​ ​ ​ ​ ​ Total Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INVESTMENT IN UNCONSOLIDATED 43

INVESTMENT IN UNCONSOLIDATED AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2015
INVESTMENT IN UNCONSOLIDATED AFFILIATES
Schedule of ownership percentage and investment in unconsolidated affiliates	Our ownership percentage and investment in unconsolidated affiliates were as follows (dollars in millions): December 31, 2015 2014 Equity Method: Louisiana Pigment Company, L.P. (50%) $ $ BASF Huntsman Shanghai Isocyanate Investment BV (50%)(1) Nanjing Jinling Huntsman New Material Co., Ltd. (49%) Jurong Ningwu New Materials Development Co., Ltd. (30%) Nippon Aqua Co., Ltd (15%)(2) — ​ ​ ​ ​ ​ ​ ​ ​ Total equity method investments Cost Method: International Diol Company (4%) White Mountain Titanium Corporation (3%) Others ​ ​ ​ ​ ​ ​ ​ ​ Total investments $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) We own 50% of BASF Huntsman Shanghai Isocyanate Investment BV. BASF Huntsman Shanghai Isocyanate Investment BV owns a 70% interest in SLIC, thus giving us an indirect 35% interest in SLIC. (2) As of April 1, 2015, we no longer exercise significant influence in our investment in Nippon Aqua Co., Ltd., for which we previously accounted using the equity method. Consequently, we now account for this investment at fair value as an available-for-sale equity security. See "Note 16. Fair Value."

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Rubicon LLC, Pacific Iron Products, Arabian Amines and Sasol Huntsman GmbH, Co. KG and Viance
Identification of variable interest entities through investments and transactions
Schedule of assets and liabilities of variable interest entities included in consolidated balance sheets	The following table summarizes the carrying amount of our variable interest entities' assets and liabilities included in our consolidated balance sheets, before intercompany eliminations, as of December 31, 2015 and 2014 (dollars in millions): December 31, 2015 2014 Current assets $ $ Property, plant and equipment, net Other noncurrent assets Deferred income taxes Intangible assets Goodwill ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities $ $ Long-term debt Deferred income taxes Other noncurrent liabilities ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Intangible Assets
Schedule of gross carrying amount and accumulated amortization of intangible assets	The gross carrying amount and accumulated amortization of intangible assets were as follows (dollars in millions): December 31, 2015 December 31, 2014 Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Amortization Net Patents, trademarks and technology $ $ $ $ $ $ Licenses and other agreements Non-compete agreements Other intangibles ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of estimated future amortization expense for intangible assets	Our and Huntsman International's estimated future amortization expense for intangible assets over the next five years is as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020
Huntsman International
Intangible Assets
Schedule of gross carrying amount and accumulated amortization of intangible assets	The gross carrying amount and accumulated amortization of intangible assets were as follows (dollars in millions): December 31, 2015 December 31, 2014 Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Amortization Net Patents, trademarks and technology $ $ $ $ $ $ Licenses and other agreements Non-compete agreements Other intangibles ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

OTHER NONCURRENT ASSETS (Tables

OTHER NONCURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
OTHER NONCURRENT ASSETS
Schedule of components of other noncurrent assets	Other noncurrent assets consisted of the following (dollars in millions): December 31, 2015 2014 Capitalized turnaround costs $ $ Spare parts inventory Deposits Catalyst assets Investment in available for sale securities — Pension assets Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accrued Liabilities
Schedule of components of accrued liabilities	Accrued liabilities consisted of the following (dollars in millions): December 31, 2015 2014 Payroll and related costs $ $ Volume and rebate accruals Restructuring and plant closing costs Taxes other than income taxes Income taxes Interest Pension liabilities Other postretirement benefits Environmental accruals Asset retirement obligations — Other miscellaneous accruals ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Huntsman International
Accrued Liabilities
Schedule of components of accrued liabilities	Accrued liabilities consisted of the following (dollars in millions): December 31, 2015 2014 Payroll and related costs $ $ Volume and rebate accruals Restructuring and plant closing costs Taxes other than income taxes Income taxes Interest Pension liabilities Other postretirement benefits Environmental accruals Asset retirement obligations — Other miscellaneous accruals ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

RESTRUCTURING, IMPAIRMENT AND48

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Tables)	12 Months Ended
	Dec. 31, 2015
RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS
Accrued restructuring, impairment and plant closing costs by type of cost and initiative	As of December 31, 2015, 2014 and 2013, accrued restructuring, impairment and plant closing costs by type of cost and initiative consisted of the following (dollars in millions): Workforce reductions(1) Demolition and decommissioning Non-cancelable lease costs Other restructuring costs Total(2) Accrued liabilities as of January 1, 2013 $ $ — $ $ — $ 2013 charges for 2012 and prior initiatives 2013 charges for 2013 initiatives — — Reversal of reserves no longer required ) — ) — ) 2013 payments for 2012 and prior initiatives ) ) ) ) ) 2013 payments for 2013 initiatives ) — — ) ) Net activity of discontinued operations — — ) — ) Foreign currency effect on liability balance — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2013 — Adjustment to Pigments & Additives opening balance sheet liabilities — — — 2014 charges for 2013 and prior initiatives 2014 charges for 2014 initiatives — — — Reversal of reserves no longer required ) — — ) ) 2014 payments for 2013 and prior initiatives ) ) ) ) ) 2014 payments for 2014 initiatives ) — — ) ) Net activity of discontinued operations — — ) — ) Foreign currency effect on liability balance ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2014 — Adjustment to Pigments & Additives opening balance sheet liabilities — — — 2015 charges for 2014 and prior initiatives 2015 charges for 2015 initiatives — Reversal of reserves no longer required ) — ) — ) 2015 payments for 2014 and prior initiatives ) ) ) ) ) 2015 payments for 2015 initiatives ) ) — ) ) Foreign currency effect on liability balance ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2015 $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The total workforce reduction reserves of $109 million relate to the termination of 1,057 positions, of which 972 positions had not been terminated as of December 31, 2015. (2) In December 2015, we prepaid $49 million of severance and other restructuring costs related to restructuring programs in our Pigments and Additives, Textile Effects and Performance Products segments. Certain of the severance costs were prepaid to a third party who will distribute the severance payments to affected employees when they are terminated in 2016. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Accrued liabilities by initiative	Accrued liabilities remaining at December 31, 2015 and 2014 by year of initiatives were as follows (dollars in millions): December 31, 2015 2014 2013 initiatives and prior $ $ 2014 initiatives 2015 initiatives — ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Details with respect to reserves for restructuring, impairment and plant closing costs, provided by segment and initiative	Details with respect to our reserves for restructuring, impairment and plant closing costs are provided below by segment and initiative (dollars in millions): Polyurethanes Performance Products Advanced Materials Textile Effects Pigments and Additives Discontinued Operations Corporate & Other Total Accrued liabilities as of January 1, 2013 $ $ — $ $ $ $ $ $ 2013 charges for 2012 and prior initiatives — — 2013 charges for 2013 initiatives — — — — Reversal of reserves no longer required ) — ) ) — — — ) 2013 payments for 2012 and prior initiatives ) — ) ) ) — ) ) 2013 payments for 2013 initiatives — ) — — ) — ) ) Net activity of discontinued operations — — — — — ) — ) Foreign currency effect on liability balance — ) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2013 Adjustment to Pigments & Additives opening balance sheet liabilities — — — — — — 2014 charges for 2013 and prior initiatives — 2014 charges for 2014 initiatives — — — — Reversal of reserves no longer required ) — ) ) — — ) ) 2014 payments for 2013 and prior initiatives ) ) ) ) ) — ) ) 2014 payments for 2014 initiatives — — ) ) — — — ) Net activity of discontinued operations — — — — — ) — ) Foreign currency effect on liability balance ) ) ) ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2014 Adjustment to Pigments & Additives opening balance sheet liabilities — — — — — — 2015 charges for 2014 and prior initiatives — 2015 charges for 2015 initiatives — Reversal of reserves no longer required ) ) — ) — — ) ) 2015 payments for 2014 and prior initiatives ) ) ) ) ) — ) ) 2015 payments for 2015 initiatives ) ) ) ) ) — ) ) Foreign currency effect on liability balance ) ) — ) ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued liabilities as of December 31, 2015 $ $ $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current portion of restructuring reserves $ $ $ — $ $ $ $ $ Long-term portion of restructuring reserve — — —
Cash and noncash restructuring charges by initiative	Details with respect to cash and noncash restructuring charges for the years ended December 31, 2015, 2014 and 2013 by initiative are provided below (dollars in millions): Cash charges: 2015 charges for 2014 and prior initiatives $ 2015 charges for 2015 initiatives Reversal of reserves no longer required ) Pension-related settlement charges Accelerated depreciation Other non-cash charges ​ ​ ​ ​ ​ Total 2015 Restructuring, Impairment and Plant Closing Costs $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash charges: 2014 charges for 2013 and prior initiatives $ 2014 charges for 2014 initiatives Reversal of reserves no longer required ) Pension-related settlement charges Non-cash charges ​ ​ ​ ​ ​ Total 2014 Restructuring, Impairment and Plant Closing Costs $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash charges: 2013 charges for 2012 and prior initiatives $ 2013 charges for 2013 initiatives Reversal of reserves no longer required ) Pension-related settlement charges Non-cash charges ​ ​ ​ ​ ​ Total 2013 Restructuring, Impairment and Plant Closing Costs $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
ASSET RETIREMENT OBLIGATIONS.
Schedule of changes to asset retirement obligation liabilities	The following table describes changes to our asset retirement obligation liabilities (dollars in millions): December 31, 2015 2014 Asset retirement obligations at beginning of year $ $ Accretion expense Liabilities incurred — — Liabilities assumed in connection with the Rockwood Acquisition — Liabilities settled ) ) Foreign currency effect on reserve balance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Asset retirement obligations at end of year $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

OTHER NONCURRENT LIABILITIES (T

OTHER NONCURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Other noncurrent liabilities
Schedule of components of other noncurrent liabilities	Other noncurrent liabilities consisted of the following (dollars in millions): December 31, 2015 2014 Pension liabilities $ $ Other postretirement benefits Environmental accruals Restructuring and plant closing costs Employee benefit accrual Asset retirement obligations Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Huntsman International
Other noncurrent liabilities
Schedule of components of other noncurrent liabilities	Other noncurrent liabilities consisted of the following (dollars in millions): December 31, 2015 2014 Pension liabilities $ $ Other postretirement benefits Environmental accruals Restructuring and plant closing costs Employee benefit accrual Asset retirement obligations Other ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2015
Debt
Outstanding debt	Outstanding debt, net of debt issuance costs, of consolidated entities consisted of the following (dollars in millions): December 31, 2015 2014 Senior Credit Facilities: Term loans $ $ Amounts outstanding under A/R programs Senior notes Senior subordinated notes — Variable interest entities Other ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current portion of debt $ $ Long-term portion ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ Notes payable to affiliates-noncurrent ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Scheduled maturities of our debt (excluding debt to affiliates)	The scheduled maturities of our debt (excluding debt to affiliates) by year as of December 31, 2015 are as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Huntsman International
Debt
Outstanding debt	December 31, 2015 2014 Senior Credit Facilities: Term loans $ $ Amounts outstanding under A/R programs Senior notes Senior subordinated notes — Variable interest entities Other ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current portion of debt $ $ Long-term portion ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total debt—excluding debt to affiliates $ $ Notes payable to affiliates-current Notes payable to affiliates-noncurrent ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Senior Credit Facilities	As of December 31, 2015, our Senior Credit Facilities consisted of our Revolving Facility, our extended term loan B facility ("Extended Term Loan B"), our extended term loan B facility—series 2 ("Extended Term Loan B—Series 2"), our 2015 extended term loan B facility ("2015 Extended Term Loan B"), our 2014 new term loan facility ("2014 New Term Loan"), and Term Loan C as follows (dollars in millions): Facility Committed Amount Principal Outstanding Unamortized Discounts and Debt Issuance Costs Carrying Value Interest Rate(3) Maturity Revolving Facility $ $ — (1) $ — (1) $ — (1) USD LIBOR plus 2.75% Extended Term Loan B NA ) USD LIBOR plus 2.75% Extended Term Loan B—Series 2 NA — USD LIBOR plus 3.00% 2015 Extended Term Loan B NA ) USD LIBOR plus 3.00% 2014 New Term Loan NA ) USD LIBOR plus 3.00%(2) Term Loan C NA — USD LIBOR plus 2.25% (1) We had no borrowings outstanding under our Revolving Facility; we had approximately $15 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility. (2) The 2014 New Term Loan is subject to a 0.75% LIBOR floor. (3) The applicable interest rate of the Senior Credit Facilities is subject to certain secured leverage ratio thresholds. As of December 31, 2015, the weighted average interest rate on our outstanding balances under the Senior Credit Facilities was approximately 3%.
Schedule of A/R Programs	Information regarding our A/R Programs as of December 31, 2015 was as follows (monetary amounts in millions): Facility Maturity Maximum Funding Availability(1) Amount Outstanding Interest Rate(2) U.S. A/R Program March 2018 $250 $90(3) Applicable rate plus 0.95% EU A/R Program March 2018 €225 (approximately $246) €114 (approximately $125) Applicable rate plus 1.10% (1) The amount of actual availability under our A/R Programs may be lower based on the level of eligible receivables sold, changes in the credit ratings of our customers, customer concentration levels and certain characteristics of the accounts receivable being transferred, as defined in the applicable agreements. (2) Applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. Applicable rate for our EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR. (3) As of December 31, 2015, we had approximately $7 million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program.
Summary of outstanding notes	As of December 31, 2015, we had outstanding the following notes (monetary amounts in millions): Notes Maturity Interest Rate Amount Outstanding Unamortized Discounts and Debt Issuance Costs 2020 Senior Notes November 2020 4.875% $650 ($646 carrying value) ($4) 2021 Senior Notes April 2021 5.125% €445 (€443 carrying value ($484)) ($2) 2022 Senior Notes November 2022 5.125% $400 ($396 carrying value) ($4) 2025 Senior Notes April 2025 4.25% €300 (€297 carrying value ($324)) ($4)
Redemption of Notes and Loss on Early Extinguishment of Debt	During the years ended December 31, 2015 and 2014, we redeemed or repurchased the following notes (dollars in millions): Date of Redemption Notes Principal Amount of Notes Redeemed Amount Paid (Excluding Accrued Interest) Loss on Early Extinguishment of Debt September 2015 2021 Senior Subordinated Notes $ $ $ April 2015 2021 Senior Subordinated Notes January 2015 2021 Senior Subordinated Notes December 2014 2021 Senior Subordinated Notes — November 2014 2020 Senior Subordinated Notes

DERIVATIVE INSTRUMENTS AND HE52

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Huntsman International
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Schedule of cash flow hedges and the effective portion of the changes in the fair value of the swaps are recorded in other comprehensive (loss) income	These swaps are designated as cash flow hedges and the effective portion of the changes in the fair value of the swaps are recorded in other comprehensive (loss) income (dollars in millions): December 31, 2015 Notional Value Effective Date Maturity Fixed Rate Fair Value $ December 2014 April 2017 $1 noncurrent liability January 2015 April 2017 1 noncurrent liability December 31, 2014 Notional Value Effective Date Maturity Fixed Rate Fair Value $ January 2010 January 2015 less than $1 current liability December 2014 April 2017 2 noncurrent liability January 2015 April 2017 2 noncurrent liability

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2015
FAIR VALUE
Fair values of financial instruments	The fair values of our financial instruments were as follows (dollars in millions): December 31, 2015 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Non-qualified employee benefit plan investments $ $ $ $ Investments in equity securities — — Cross-currency interest rate contacts Interest rate contracts Long-term debt (including current portion)
Assets and liabilities are measured at fair value on a recurring basis	The following assets and liabilities are measured at fair value on a recurring basis (dollars in millions): Fair Value Amounts Using Description December 31, 2015 Quoted prices in active markets for identical assets (Level 1)(4) Significant other observable inputs (Level 2)(4) Significant unobservable inputs (Level 3) Assets: Available-for sale equity securities: Equity mutual funds $ $ $ — $ — Investments in equity securities(1) — — Derivatives: Cross-currency interest rate contracts(2) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Derivatives: Interest rate contracts(3) $ $ — $ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Amounts Using Description December 31, 2014 Quoted prices in active markets for identical assets (Level 1)(4) Significant other observable inputs (Level 2)(4) Significant unobservable inputs (Level 3) Assets: Available-for sale equity securities: Equity mutual funds $ $ $ — $ — Derivatives: Cross-currency interest rate contracts(2) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Derivatives: Interest rate contracts(3) $ $ — $ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) As of April 1, 2015, we no longer exercise significant influence in our investment in Nippon Aqua Co., Ltd., for which we previously accounted using the equity method. Consequently, we now account for this investment at fair value as an available-for-sale equity security. (2) The income approach is used to calculate the fair value of these instruments. Fair value represents the present value of estimated future cash flows, calculated using relevant interest rates, exchange rates, and yield curves at stated intervals. There were no material changes to the valuation methods or assumptions used to determine the fair value during the current period. In November 2014, we entered into two five year cross-currency interest rate contracts and one eight year cross-currency interest rate contract. These instruments have been categorized by us as Level 3 within the fair value hierarchy due to unobservable inputs associated with the credit valuation adjustment, which we deemed to be significant inputs to the overall measurement of fair value at inception. (3) The income approach is used to calculate the fair value of these instruments. Fair value represents the present value of estimated future cash flows, calculated using relevant interest rates and yield curves at stated intervals. There were no material changes to the valuation methods or assumptions used to determine the fair value during the current period. (4) There were no transfers between Levels 1 and 2 within the fair value hierarchy for the years ended December 31, 2015 and 2014.
Reconciliation of beginning and ending balances for assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	The following tables show reconciliations of beginning and ending balances for the years ended December 31, 2015 and 2014 for instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (dollars in millions). Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Cross-Currency Interest Rate Contracts Beginning balance, January 1, 2015 $ Transfers into Level 3 — Transfers out of Level 3 — Total gains (losses): Included in earnings — Included in other comprehensive income (loss) Purchases, sales, issuances and settlements — ​ ​ ​ ​ ​ Ending balance, December 31, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at December 31, 2015 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Cross-Currency Interest Rate Contracts Beginning balance, January 1, 2014 $ — Transfers into Level 3 — Transfers out of Level 3 — Total gains (losses): Included in earnings — Included in other comprehensive income (loss) Purchases, sales, issuances and settlements — ​ ​ ​ ​ ​ Ending balance, December 31, 2014 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets still held at December 31, 2014 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of gains and losses (realized and unrealized) included in earnings reported in interest expense and other comprehensive income (loss)	Gains and losses (realized and unrealized) included in earnings for instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are reported in interest expense and other comprehensive income (loss) as follows (dollars in millions): Interest expense Other comprehensive income (loss) 2015 Total net gains included in earnings $ — $ — Changes in unrealized gains relating to assets still held at December 31, 2015 — Interest expense Other comprehensive income (loss) 2014 Total net gains included in earnings $ — $ — Changes in unrealized gains relating to assets still held at December 31, 2014 —

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2015
EMPLOYEE BENEFIT PLANS
Schedule of funded status of the plans and the amounts recognized in the consolidated balance sheets	The following table sets forth the funded status of the plans for us and Huntsman International and the amounts recognized in our consolidated balance sheets at December 31, 2015 and 2014 (dollars in millions): Defined Benefit Plans Other Postretirement Benefit Plans 2015 2014 2015 2014 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Change in benefit obligation Benefit obligation at beginning of year $ $ $ $ $ $ $ $ Service cost — — Interest cost — — Participant contributions — — — — Plan amendments — ) — ) ) — — — Acquisitions/divestitures — — — — — Foreign currency exchange rate changes — ) — ) — ) — — Curtailments — ) — ) — — — — Special termination benefits — — — — — — Actuarial (gain) loss ) ) ) — Benefits paid ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Benefit obligation at end of year $ $ $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in plan assets Fair value of plan assets at beginning of year $ $ $ $ $ — $ — $ — $ — Actual return on plan assets ) — — — — Foreign currency exchange rate changes — ) — ) — — — — Participant contributions — — — — Acquisitions/divestitures — — — — — — Company contributions — — Benefits paid ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of plan assets at end of year $ $ $ $ $ — $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Funded status Fair value of plan assets $ $ $ $ $ — $ — $ — $ — Benefit obligation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued benefit cost $ ) $ ) $ ) $ ) $ ) $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts recognized in balance sheet: Noncurrent asset $ — $ $ — $ $ — $ — $ — $ — Current liability ) ) ) ) ) — ) — Noncurrent liability ) ) ) ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ ) $ ) $ ) $ ) $ ) $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts recognized in accumulated other comprehensive loss (income)	Defined Benefit Plans Other Postretirement Benefit Plans 2015 2014 2015 2014 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ $ $ $ $ $ $ $ Prior service cost ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ) $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year	The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows (dollars in millions): Defined Benefit Plans Other Postretirement Benefit Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Actuarial loss $ $ $ $ — Prior service cost ) ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Components of the net periodic benefit costs	Components of net periodic benefit costs for the years ended December 31, 2015, 2014 and 2013 were as follows (dollars in millions): Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) ) ) Amortization of prior service cost ) ) ) — — Amortization of actuarial loss Settlement loss — — — — Special termination benefits — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ — $ — $ — Interest cost — — — Amortization of prior service cost ) ) ) — — — Amortization of actuarial loss — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts recognized in net periodic benefit cost and other comprehensive loss (income)	The amounts recognized in net periodic benefit cost and other comprehensive income (loss) as of December 31, 2015, 2014 and 2013 were as follows (dollars in millions): Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ $ $ ) $ $ $ ) Amortization of actuarial loss ) ) ) ) ) ) Current year prior service (credits) cost — — — ) ) Amortization of prior service cost (credits) — — ) Settlements — — — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) ) ) Net periodic benefit cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ $ $ ) $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ ) $ $ ) $ — $ $ ) Amortization of actuarial loss ) ) ) — — — Current year prior service credit ) — ) — — — Amortization of prior service cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) — ) Net periodic benefit cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ ) $ $ ) $ — $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of weighted-average assumptions used to determine the projected benefit obligation and the net periodic pension cost	Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Projected benefit obligation Discount rate Rate of compensation increase Net periodic pension cost Discount rate Rate of compensation increase Expected return on plan assets Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Projected benefit obligation Discount rate Net periodic pension cost Discount rate
Schedule of effect on one-percent-point change in assumed health care cost trend rates	A one-percent point change in assumed health care cost trend rates would have the following effects (dollars in millions): Increase Decrease Asset category Effect on total of service and interest cost $ — $ — Effect on postretirement benefit obligation
Schedule of projected benefit obligation and fair value of plan assets for the defined benefit plans with projected benefit obligations in excess of fair value of plan assets	The projected benefit obligation and fair value of plan assets for the defined benefit plans with projected benefit obligations in excess of plan assets as of December 31, 2015 and 2014 were as follows (dollars in millions): U.S. plans Non-U.S. plans 2015 2014 2015 2014 Projected benefit obligation in excess of plan assets Projected benefit obligation $ $ $ $ Fair value of plan assets
Schedule of defined benefit plans with an accumulated benefit obligation in excess of fair value of plan assets	The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the defined benefit plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2015 and 2014 were as follows (dollars in millions): U.S. plans Non-U.S. plans 2015 2014 2015 2014 Accumulated benefit obligation in excess of plan assets Projected benefit obligation $ $ $ $ Accumulated benefit obligation Fair value of plan assets
Schedule of expected future contributions and benefit payments	Expected future contributions and benefit payments are as follows (dollars in millions): U.S. Plans Non-U.S. Plans Defined Benefit Plans Other Postretirement Benefit Plans Defined Benefit Plans Other Postretirement Benefit Plans 2016 expected employer contributions To plan trusts $ $ $ $ — Expected benefit payments 2016 — 2017 — 2018 — 2019 — 2020 — 2021 - 2025
Schedule of plan assets measured at fair value on a recurring basis	The fair value of plan assets for the pension plans was $3.2 billion and $3.3 billion at December 31, 2015 and 2014, respectively. The following plan assets are measured at fair value on a recurring basis (dollars in millions): Fair Value Amounts Using Asset category December 31, 2015 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other — — Cash — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other Cash — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Amounts Using Asset category December 31, 2014 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other — Cash — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-U.S. pension plans: Equities $ $ $ $ — Fixed income — Real estate/other Cash — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-U.S. pension plan assets $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Reconciliation of the beginning and ending balances of plan assets measured at fair value using unobservable inputs (level 3)	The following table reconciles the beginning and ending balances of plan assets measured at fair value using unobservable inputs (Level 3) (dollars in millions): Real Estate/Other Fair Value Measurements of Plan Assets Using Significant Unobservable Inputs (Level 3) Year ended December 31, 2015 Year ended December 31, 2014 Balance at beginning of period $ $ Return on pension plan assets Purchases, sales and settlements Transfers (out of) into Level 3 — — Acquisition date fair value of pension plan assets acquired — ​ ​ ​ ​ ​ ​ ​ ​ Balance at end of period $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of asset allocation for pension plans and the target allocation, by asset category	Asset category Target Allocation 2016 Allocation at December 31, 2015 Allocation at December 31, 2014 U.S. pension plans: Equities Fixed income Real estate/other Cash — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total U.S. pension plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-U.S. pension plans: Equities Fixed income Real estate/other Cash — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total non-U.S. pension plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Huntsman International
EMPLOYEE BENEFIT PLANS
Schedule of amounts recognized in accumulated other comprehensive loss (income)	Defined Benefit Plans Other Postretirement Benefit Plans 2015 2014 2015 2014 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ $ $ $ $ $ $ $ Prior service cost ) ) ) ) ) — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ) $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year	The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows (dollars in millions): Defined Benefit Plans Other Postretirement Benefit Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Actuarial loss $ $ $ $ — Prior service cost ) ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Components of the net periodic benefit costs	Components of net periodic benefit costs for the years ended December 31, 2015, 2014 and 2013 were as follows (dollars in millions): Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) ) ) Amortization of prior service cost ) ) ) — — Amortization of actuarial loss Settlement loss — — — — Special termination benefits — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ — $ — $ — Interest cost — — — Amortization of prior service cost ) ) ) — — — Amortization of actuarial loss — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost $ $ $ $ — $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of amounts recognized in net periodic benefit cost and other comprehensive loss (income)	The amounts recognized in net periodic benefit cost and other comprehensive income (loss) as of December 31, 2015, 2014 and 2013 were as follows (dollars in millions): Defined Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ $ $ ) $ $ $ ) Amortization of actuarial loss ) ) ) ) ) ) Current year prior service (credits) cost — — — ) ) Amortization of prior service cost (credits) — — ) Settlements — — — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) ) ) Net periodic benefit cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ $ $ ) $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2015 2014 2013 2015 2014 2013 Current year actuarial loss (gain) $ ) $ $ ) $ — $ $ ) Amortization of actuarial loss ) ) ) — — — Current year prior service credit ) — ) — — — Amortization of prior service cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in other comprehensive loss (income) ) ) — ) Net periodic benefit cost — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total recognized in net periodic benefit cost and other comprehensive (loss) income $ ) $ $ ) $ — $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax
Schedule of income tax expense (benefit)	The following is a summary of U.S. and non-U.S. provisions for current and deferred income taxes (dollars in millions): Year ended December 31, 2015 2014 2013 Income tax expense (benefit): U.S. Current $ $ Deferred Non-U.S. Current Deferred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of the differences between the U.S. federal income taxes at the U.S. statutory rate to total provision for income taxes	The following schedule reconciles the differences between the U.S. federal income taxes at the U.S. statutory rate to our provision for income taxes (dollars in millions): Year ended December 31, 2015 2014 2013 Income from continuing operations before income taxes $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected tax expense at U.S. statutory rate of 35% $ $ $ Change resulting from: State tax expense net of federal benefit Non-U.S. tax rate differentials Effects of non-U.S. operations U.S. domestic manufacturing deduction Currency exchange gains and losses Effect of tax holidays — — U.S. foreign tax credits, net of associated income and taxes Tax benefit of losses with valuation allowances as a result of other comprehensive income Tax authority audits and dispute resolutions Change in valuation allowance Other, net — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of income (loss) from continuing operations before income taxes	The components of income (loss) from continuing operations before income taxes were as follows (dollars in millions): Year ended December 31, 2015 2014 2013 U.S. $ $ $ Non-U.S. ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of deferred income tax assets and liabilities	Components of deferred income tax assets and liabilities were as follows (dollars in millions): December 31, 2015 2014 Deferred income tax assets: Net operating loss carryforwards $ $ Pension and other employee compensation Property, plant and equipment Intangible assets Foreign tax credits Other, net ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities: Property, plant and equipment $ ) $ ) Pension and other employee compensation ) ) Other, net ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset before valuation allowance $ $ Valuation allowance—net operating losses and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current deferred tax asset $ — $ Current deferred tax liability — ) Non-current deferred tax asset Non-current deferred tax liability ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax liability $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of changes in valuation allowance	The following is a summary of changes in the valuation allowance (dollars in millions): 2015 2014 2013 Valuation allowance as of January 1 $ $ $ Valuation allowance as of December 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (increase) decrease ) ) Foreign currency movements ) ) (Decrease) increase to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Components of change in valuation allowance affecting tax expense: Pre-tax losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ ) $ ) $ ) Releases of valuation allowances in various jurisdictions Establishments of valuation allowances in various jurisdictions ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of unrecognized tax benefits	The following is a reconciliation of our unrecognized tax benefits (dollars in millions): 2015 2014 Unrecognized tax benefits as of January 1 $ $ Gross increases and decreases—tax positions taken during a prior period ) Gross increases and decreases—tax positions taken during the current period Decreases related to settlements of amounts due to tax authorities ) ) Reductions resulting from the lapse of statutes of limitation ) ) Foreign currency movements ) ) ​ ​ ​ ​ ​ ​ ​ ​ Unrecognized tax benefits as of December 31 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of interest and penalties accrued related to unrecognized tax benefits included in the income tax expense	Year ended December 31, 2015 2014 2013 Interest expense included in tax expense $ ) $ $ Penalties expense included in tax expense — — ) December 31, 2015 2014 Accrued liability for interest $ $ Accrued liability for penalties — —
Summary of the tax years that remain subject to examination by major tax jurisdictions	Tax Jurisdiction Open Tax Years China 2011 and later France 2002 and later India 2004 and later Italy 2010 and later Malaysia 2003 and later Switzerland 2009 and later The Netherlands 2010 and later United Kingdom 2012 and later United States federal 2009 and later
Huntsman International
Income Tax
Schedule of income tax expense (benefit)	The following is a summary of U.S. and non-U.S. provisions for current and deferred income taxes (dollars in millions): Year ended December 31, 2015 2014 2013 Income tax expense (benefit): U.S. Current $ $ Deferred Non-U.S. Current Deferred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of the differences between the U.S. federal income taxes at the U.S. statutory rate to total provision for income taxes	The following schedule reconciles the differences between the U.S. federal income taxes at the U.S. statutory rate to our provision for income taxes (dollars in millions): Year ended December 31, 2015 2014 2013 Income from continuing operations before income taxes $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expected tax expense at U.S. statutory rate of 35% $ $ $ Change resulting from: State tax expense net of federal benefit Non-U.S. tax rate differentials Effects of non-U.S. operations U.S. domestic manufacturing deduction Currency exchange gains and losses Effect of tax holidays — — U.S. foreign tax credits, net of associated income and taxes Tax benefit of losses with valuation allowances as a result of other comprehensive income Tax authority audits and dispute resolutions Change in valuation allowance Other, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of income (loss) from continuing operations before income taxes	The components of income (loss) from continuing operations before income taxes were as follows (dollars in millions): Year ended December 31, 2015 2014 2013 U.S. $ $ $ Non-U.S. ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of deferred income tax assets and liabilities	Components of deferred income tax assets and liabilities were as follows (dollars in millions): December 31, 2014 2014 Deferred income tax assets: Net operating loss and AMT credit carryforwards $ $ Pension and other employee compensation Property, plant and equipment Intangible assets Foreign tax credits Other, net ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities: Property, plant and equipment $ ) $ ) Pension and other employee compensation ) ) Other, net ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset before valuation allowance $ $ Valuation allowance—net operating losses and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current deferred tax asset $ — $ Current deferred tax liability — ) Non-current deferred tax asset Non-current deferred tax liability ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax asset $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of changes in valuation allowance	The following is a summary of changes in the valuation allowance (dollars in millions): 2015 2014 2013 Valuation allowance as of January 1 $ $ $ Valuation allowance as of December 31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (increase) decrease ) ) Foreign currency movements ) ) (Decrease) increase to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Components of change in valuation allowance affecting tax expense: Pre-tax losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ ) $ ) $ ) Releases of valuation allowances in various jurisdictions Establishments of valuation allowances in various jurisdictions ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in valuation allowance per rate reconciliation $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES
Schedule of total purchase commitments	Total purchase commitments as of December 31, 2015 are as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of future minimum lease payments under operating leases	Future minimum lease payments under operating leases as of December 31, 2015 are as follows (dollars in millions): Year ending December 31, 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

HUNTSMAN CORPORATION STOCKHOL57

HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2015
HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY
Schedule of dividends on common stock	The following tables represent dividends on common stock for our Company for the years ended December 31, 2015 and 2014 (dollars in millions, except per share payment amounts): 2015 Quarter ended Per share payment amount Approximate amount paid March 31, 2015 $ $ June 30, 2015 September 30, 2015 December 31, 2015 2014 Quarter ended Per share payment amount Approximate amount paid March 31, 2014 $ $ June 30, 2014 September 30, 2014 December 31, 2014

STOCK-BASED COMPENSATION PLAN (

STOCK-BASED COMPENSATION PLAN (Tables)	12 Months Ended
	Dec. 31, 2015
STOCK-BASED COMPENSATION PLANS
Compensation cost from continuing operations under the Stock Incentive Plan	The compensation cost from continuing operations under the Stock Incentive Plan for our Company and Huntsman International were as follows (dollars in millions): Year ended December 31, 2015 2014 2013 Huntsman Corporation compensation cost $ $ $ Huntsman International compensation cost
Assumptions used to calculate fair value of each stock option award estimated on the date of grant using the Black-Scholes valuation model	Year ended December 31, 2015 2014 2013 Dividend yield Expected volatility Risk-free interest rate Expected life of stock options granted during the period 5.9 years 5.7 years 5.6 years
Summary of stock option activity under the Stock Incentive Plan	Option Awards Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (years) (in millions) Outstanding at January 1, 2015 $ Granted Exercised Forfeited ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at December 31, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at December 31, 2015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of status of nonvested shares under the Stock Incentive Plan	Equity Awards Liability Awards Weighted Average Grant-Date Fair Value Shares Shares Weighted Average Grant-Date Fair Value (in thousands) (in thousands) Nonvested at January 1, 2015 $ $ Granted Vested (1) Forfeited ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nonvested at December 31, 2015 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) As of December 31, 2015, a total of 393,952 restricted stock units were vested but not yet issued, of which 29,645 vested during 2015. These shares have not been reflected as vested shares in this table because, in accordance with the restricted stock unit agreements, shares of common stock are not issued for vested restricted stock units until termination of employment. This table does reflect 29,921 vested restricted stock units for which shares of common stock were issued in 2015.

OTHER COMPREHENSIVE (LOSS) IN59

OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of details about other comprehensive (loss) income	Other comprehensive (loss) income consisted of the following (dollars in millions): Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman Corporation Beginning balance, January 1, 2015 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) Tax expense ) ) — — ) — ) Amounts reclassified from accumulated other comprehensive loss, gross(c) — — — — Tax expense — ) — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2015 $ ) $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $90 and $47 as of December 31, 2015 and January 1, 2015, respectively. (b) Amounts are net of tax of $135 and $182 as of December 31, 2015 and January 1, 2015, respectively. (c) See table below for details about these reclassifications. Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman Corporation Beginning balance, January 1, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) ) ) Tax (expense) benefit ) — ) — Amounts reclassified from accumulated other comprehensive loss, gross(c) — ) — — ) — ) Tax benefit — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $47 and $13 as of December 31, 2014 and January 1, 2014, respectively. (b) Amounts are net of tax of $182 and $83 as of December 31, 2014 and January 1, 2014, respectively. (c) See table below for details about these reclassifications.
Schedule of details about reclassifications from other comprehensive (loss) income	Year ended December 31, 2015 Year ended December 31, 2014 Year ended December 31, 2013 Details about Accumulated Other Comprehensive Loss Components(a): Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Affected line item in the statement where net income is presented Amortization of pension and other postretirement benefits: Prior service credit $ $ $ (b) Actuarial loss ) ) ) (b)(c) Settlement loss — ) ) (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ) ) Total before tax Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total reclassifications for the period $ ) $ ) $ ) Net of tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. (b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 17. Employee Benefit Plans." (c) Amounts contain approximately $6 million, $4 million and $6 million of actuarial losses related to discontinued operations for the years ended December 31, 2015, 2014 and 2013, respectively.
Huntsman International
Schedule of details about other comprehensive (loss) income	Other comprehensive (loss) income consisted of the following (dollars in millions): Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman International Beginning balance, January 1, 2015 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) Tax expense ) ) — — ) — ) Amounts reclassified from accumulated other comprehensive loss, gross(c) — — — — Tax expense — ) — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2015 $ ) $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $76 and $34 as of December 31, 2015 and January 1, 2015, respectively. (b) Amounts are net of tax of $163 and $211 as of December 31, 2015 and January 1, 2015, respectively. (c) See table below for details about these reclassifications. Foreign currency translation adjustment(a) Pension and other postretirement benefits adjustments(b) Other comprehensive income of unconsolidated affiliates Other, net Total Amounts attributable to noncontrolling interests Amounts attributable to Huntsman International Beginning balance, January 1, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive (loss) income before reclassifications, gross ) ) ) ) ) Tax (expense) benefit ) — ) — Amounts reclassified from accumulated other comprehensive loss, gross(c) — ) — — ) — ) Tax benefit — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net current-period other comprehensive (loss) income ) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance, December 31, 2014 $ $ ) $ $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts are net of tax of $34 and nil as of December 31, 2014 and January 1, 2014, respectively. (b) Amounts are net of tax of $211 and $113 as of December 31, 2014 and January 1, 2014, respectively. (c) See table below for details about these reclassifications.
Schedule of details about reclassifications from other comprehensive (loss) income	Year ended December 31, 2015 Year ended December 31, 2014 Year ended December 31, 2013 Details about Accumulated Other Comprehensive Loss Components(a): Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Amount reclassified from accumulated other comprehensive loss Affected line item in the statement where net income is presented Amortization of pension and other postretirement benefits: Prior service credit $ $ $ (b) Actuarial loss ) ) ) (b)(c) Settlement loss — ) ) (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ) ) Total before tax Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total reclassifications for the period $ ) $ ) $ ) Net of tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. (b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 17. Employee Benefit Plans." (c) Amounts contain approximately $6 million and $4 million and $6 million of actuarial losses related to discontinued operations for the years ended December 31, 2015, 2014 and 2013, respectively.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
Schedule of transactions with affiliates	Our consolidated financial statements include the following transactions with our affiliates not otherwise disclosed (dollars in millions): Year ended December 31, 2015 2014 2013 Sales to: Unconsolidated affiliates $ $ $ Inventory purchases from: Unconsolidated affiliates

OPERATING SEGMENT INFORMATION (

OPERATING SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
OPERATING SEGMENT INFORMATION
Schedule of major products by reportable operating segment	The major products of each reportable operating segment are as follows: Segment Products Polyurethanes MDI, PO, polyols, PG, TPU, aniline and MTBE Performance Products amines, surfactants, LAB, maleic anhydride, other performance chemicals, EG, olefins and technology licenses Advanced Materials Basic liquid and solid epoxy resins; specialty resin compounds; cross-linking, matting and curing agents; epoxy, acrylic and polyurethane-based formulations Textile Effects textile chemicals, dyes and inks Pigments and Additives titanium dioxide, functional additives, color pigments, timber treatment and water treatment chemicals
Operating segment information
Schedule of revenues, EBITDA, depreciation and amortization, capital expenditures and total assets	The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions): Year ended December 31, 2015 2014 2013 Revenues: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Eliminations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman Corporation: Segment EBITDA(1): Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations(3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest expense, net Income tax expense—continuing operations Income tax benefit—discontinued operations Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Huntsman Corporation $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Depreciation and Amortization: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Capital Expenditures: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2015 2014 2013 Total Assets: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items. (2) Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, non-operating income and expense, benzene sales and gains and losses on the disposition of corporate assets. (3) The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.
Schedule of revenues and long-lived assets by geographical area	Year ended December 31, 2015 2014(2) 2013 By Geographic Area Revenues(1): United States $ $ $ China Mexico Germany Other nations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2015 2014 2013 Long-lived assets(3): Huntsman Corporation United States $ $ $ Germany The Netherlands United Kingdom China Italy Other nations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huntsman International United States $ $ $ Germany The Netherlands United Kingdom China Italy Other nations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Geographic information for revenues is based upon countries into which product is sold. (2) Subsequent to the issuance of the Company's 2014 financial statements, revenues by geographic area were corrected to properly reflect intercompany sales eliminations. (3) Long-lived assets consist of property, plant and equipment, net.
Huntsman International
Operating segment information
Schedule of revenues, EBITDA, depreciation and amortization, capital expenditures and total assets	The revenues and EBITDA for each of our reportable operating segments are as follows (dollars in millions): Year ended December 31, 2015 2014 2013 Huntsman International: Segment EBITDA(1): Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations(3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest expense, net Income tax expense—continuing operations Income tax benefit—discontinued operations Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to Huntsman International $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Depreciation and Amortization: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other(2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Discontinued Operations — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2015 2014 2013 Capital Expenditures: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2015 2014 2013 Total Assets: Polyurethanes $ $ $ Performance Products Advanced Materials Textile Effects Pigments and Additives Corporate and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Segment EBITDA is defined as net income attributable to Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, and certain Corporate and other items. (2) Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, loss on early extinguishment of debt, unallocated restructuring, impairment and plant closing costs, non-operating income and expense, benzene sales and gains and losses on the disposition of corporate assets. (3) The operating results of our former polymers, base chemicals and Australian styrenics businesses are classified as discontinued operations, and, accordingly, the revenues of these businesses are excluded for all periods presented. The EBITDA of our former polymers, base chemicals and Australian styrenics businesses are included in discontinued operations for all periods presented.

CONDENSED CONSOLIDATING FINAN62

CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL (Tables) - Huntsman International	12 Months Ended
	Dec. 31, 2015
CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL
CONDENSED CONSOLIDATING BALANCE SHEETS	HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS AS OF DECEMBER 31, 2015 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC ASSETS Current assets: Cash and cash equivalents $ $ $ $ — $ Restricted cash — — — Accounts and notes receivable, net Accounts receivable from affiliates Inventories Prepaid expenses Other current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets Property, plant and equipment, net Investment in unconsolidated affiliates Intangible assets, net — Goodwill — Deferred income taxes — Notes receivable from affiliates — Other noncurrent assets — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY Current liabilities: Accounts payable $ $ $ $ $ Accounts payable to affiliates Accrued liabilities Note payable to affiliate — — — Current portion of debt — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities Long-term debt — — Notes payable to affiliates — Deferred income taxes Other noncurrent liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities Equity Huntsman International LLC members' equity Members' equity Accumulated (deficit) income Accumulated other comprehensive (loss) income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Huntsman International LLC members' equity Noncontrolling interests in subsidiaries — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and equity $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ $ $ $ — $ Restricted cash — — — Accounts and notes receivable, net Accounts receivable from affiliates Inventories Prepaid expenses Deferred income taxes — Other current assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets Property, plant and equipment, net Investment in unconsolidated affiliates Intangible assets, net — Goodwill — Deferred income taxes — Notes receivable from affiliates — — Other noncurrent assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY Current liabilities: Accounts payable $ $ $ $ $ Accounts payable to affiliates Accrued liabilities Deferred income taxes — Note payable to affiliate — — — Current portion of debt — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities Long-term debt — — Notes payable to affiliates — Deferred income taxes Other noncurrent liabilities — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities Equity Huntsman International LLC members' equity Members' equity Accumulated (deficit) income Accumulated other comprehensive (loss) income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Huntsman International LLC members' equity Noncontrolling interests in subsidiaries — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and equity $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)	HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME YEAR ENDED DECEMBER 31, 2015 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Revenues: Trade sales, services and fees, net $ $ $ $ — $ Related party sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenues Cost of goods sold ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative — Research and development — Other operating (income) expense — — Restructuring, impairment and plant closing costs — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income (loss) Interest (expense) income — Equity in income (loss) of investment in affiliates and subsidiaries Loss on early extinguishment of debt — — — Other income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) income from continuing operations before income taxes Income tax benefit (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from continuing operations Income (loss) from discontinued operations, net of tax — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) Net income attributable to noncontrolling interests — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Huntsman International LLC $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ $ $ $ Other comprehensive loss Comprehensive income attributable to noncontrolling interests — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive (loss) income attributable to Huntsman International LLC $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ $ $ $ — $ Related party sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenues ) Cost of goods sold ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative — Research and development — Other operating (income) expense ) ) — ) Restructuring, impairment and plant closing costs — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income Interest (expense) income ) ) — ) Equity in income (loss) of investment in affiliates and subsidiaries ) ) Loss on early extinguishment of debt ) — — — ) Other income (loss) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from continuing operations before income taxes ) ) Income tax benefit (expense) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ) ) Income (loss) from discontinued operations, net of tax — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) ) Net income attributable to noncontrolling interests — — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Huntsman International LLC $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ $ ) $ ) $ Other comprehensive (loss) income ) ) ) Comprehensive income attributable to noncontrolling interests — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive (loss) income attributable to Huntsman International LLC $ ) $ $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) YEAR ENDED DECEMBER 31, 2013 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Revenues: Trade sales, services and fees, net $ $ $ $ — $ Related party sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenues ) Cost of goods sold ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ) Selling, general and administrative — Research and development — Other operating (income) expense ) ) — Restructuring, impairment and plant closing costs — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income (loss) ) ) Interest (expense) income, net ) ) — ) Equity in income (loss) of investment in affiliates and subsidiaries ) Loss on early extinguishment of debt ) — — — ) Other income — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) income from continuing operations before income taxes ) ) Income tax benefit (expense) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) from continuing operations ) ) Income (loss) from discontinued operations, net of tax ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ) ) Net income attributable to noncontrolling interests — — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Huntsman International LLC $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ $ ) $ ) $ Other comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income (loss) attributable to Huntsman International LLC $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS	HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2015 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Net cash (used in) provided by operating activities $ ) $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing activities: Capital expenditures ) ) ) — ) Cash received from unconsolidated affiliates — — — Investment in affiliate ) ) — Investment in unconsolidated affiliates — ) ) — ) Acquisition of businesses, net of cash acquired — — ) — ) Cash received from purchase price adjustment for business acquired — — — Proceeds from sale of businesses/assets — — — Increase in receivable from affiliate — — — Cash received from termination of cross-currency interest rate contracts — — — Change in restricted cash — — ) — ) Other, net — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) investing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing activities: Net repayments under revolving loan facilities — — ) — ) Net borrowings on overdraft facilities — — ) — ) Borrowings on short-term debt — — — Repayments of long-term debt ) — ) — ) Proceeds from issuance of long-term debt — — — Repayments of notes payable to affiliate ) — — — ) Proceeds from notes payable to affiliate — — ) Repayments of notes payable ) — ) — ) Borrowings on notes payable — — Debt issuance costs paid ) — — — ) Call premiums related to early extinguishment of debt ) — — — ) Contingent consideration paid for acquisition ) — — — ) Dividends paid to noncontrolling intrests — — ) — ) Contribution from parent — ) — Distribution to parent — ) ) — Dividends paid to parent ) ) — ) Excess tax benefit related to stock-based compensation — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities ) ) ) ) Effect of exchange rate changes on cash — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Decrease in cash and cash equivalents ) ) ) — ) Cash and cash equivalents at beginning of period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2014 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Net cash provided by operating activities $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing activities: Capital expenditures — Cash received from unconsolidated affiliates — — Investment in affiliate — — Investment in unconsolidated affiliates — — Acquisition of businesses, net of cash acquired — — Proceeds from sale of businesses/assets — — Increase in receivable from affiliate — — — Other, net — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing activities: Net repayments under revolving loan facilities — — — Net borrowings on overdraft facilities — — — Repayments of short-term debt — — — Borrowings on short-term debt — — — Repayments of long-term debt — — Proceeds from issuance of long-term debt — — — Repayments of notes payable to affiliate — — — Repayments of notes payable — — Borrowings on notes payable — — Debt issuance costs paid — — — Call premiums related to early extinguishment of debt — — — Contingent consideration paid for acquisition — — — Contribution from parent — — Dividends paid to noncontrolling interests — — — Distribution to parent — — Dividends paid to parent — Excess tax benefit related to stock-based compensation — — — Other, net — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities Effect of exchange rate changes on cash — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Increase in cash and cash equivalents — Cash and cash equivalents at beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ $ $ $— $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2013 (In Millions) Parent Company Guarantors Nonguarantors Eliminations Consolidated Huntsman International LLC Net cash provided by operating activities $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investing activities: Capital expenditures — Cash received from unconsolidated affiliates — — — Investment in affiliate — — Investment in unconsolidated affiliates — — Acquisition of a business, net of cash acquired — — — Proceeds from sale of businesses/assets — — — Increase in receivable from affiliate — — — Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financing activities: Net repayments under revolving loan facilities — — — Net borrowings on overdraft facilities — — — Repayments of short-term debt — — — Borrowings on short-term debt — — — Repayments of long-term debt — — Proceeds from issuance of long-term debt — — Proceeds from notes payable to affiliate — — — Repayments of notes payable — — Borrowings on notes payable — — Debt issuance costs paid — — — Call premiums and other costs related to early extinguishment of debt — — — Contribution from parent — — Distribution to parent — — — Dividends paid to parent — Excess tax benefit related to stock-based compensation — — — Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by (used in) financing activities Effect of exchange rate changes on cash — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Increase (decrease) in cash and cash equivalents — Cash and cash equivalents at beginning of period — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents at end of period $ $— $ $— $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SELECTED UNAUDITED QUARTERLY 63

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information
Summary of selected unaudited quarterly financial data	A summary of selected unaudited quarterly financial data for the years ended December 31, 2015 and 2014 is as follows (dollars in millions, except per share amounts): Three months ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015(1) Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income from continuing operations Net income Net income attributable to Huntsman Corporation Basic income per share(3): Income from continuing operations attributable to Huntsman Corporation common stockholders Net income attributable to Huntsman Corporation common stockholders Diluted income per share(3): Income from continuing operations attributable to Huntsman Corporation common stockholders Net income attributable to Huntsman Corporation common stockholders Three months ended March 31, 2014 June 30, 2014 September 30, 2014(2) December 31, 2014 Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income (loss) from continuing operations Net income (loss) Net income (loss) attributable to Huntsman Corporation Basic income (loss) per share(3): Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders Net income (loss) attributable to Huntsman Corporation common stockholders Diluted income (loss) per share(3): Income (loss) from continuing operations attributable to Huntsman Corporation common stockholders Net income (loss) attributable to Huntsman Corporation common stockholders (1) During the three months ended December 31, 2015, we declared a dividend from our non-U.S. operations to the U.S., which included bringing onshore certain U.S. foreign tax credits. The foreign tax credits brought onshore exceeded the amount needed to offset the cash tax impact of the dividend, as well as enough to allow us to carry $14 million of foreign tax credits back to a prior year and claim a refund. During 2015, a number of our intercompany liabilities that were denominated in U.S. dollars were owed by entities whose tax currency was the euro. As a result of the depreciation in the euro opposite the U.S. dollar, these entities recorded a tax only foreign exchange loss. Most of the intercompany receivables associated with these same U.S. dollar denominated intercompany debts were held by entities with a tax currency of the U.S. dollar which, therefore, resulted in no taxable gain. This resulted in a $33 million tax benefit ($58 million, net of $25 million of contingent liabilities and valuation allowances) in the fourth quarter of 2015. (2) During the three months ended September 30, 2014, as a result of extensive research and analysis, we filed amended U.S. tax returns for tax years 2008 through 2012, along with our original U.S. tax return for tax year 2013, and made elections which allowed us to utilize U.S. foreign tax credits. As a result of utilizing these assets that had been subject to a valuation allowance, we recognized a discrete income tax benefit of $94 million in the third quarter of 2014. (3) Basic and diluted income per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.
Huntsman International
Quarterly Financial Information
Summary of selected unaudited quarterly financial data	A summary of selected unaudited quarterly financial data for the years ended December 31, 2015 and 2014 is as follows (dollars in millions, except per share amounts): Three months ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015(1) Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income from continuing operations Net income Net income attributable to Huntsman International Three months ended March 31, 2014 June 30, 2014 September 30, 2014(2) December 31, 2014 Revenues $ $ $ $ Gross profit Restructuring, impairment and plant closing costs Income (loss) from continuing operations Net income (loss) Net income (loss) attributable to Huntsman International (1) During the three months ended December 31, 2015, we declared a dividend from our non-U.S. operations to the U.S., which included bringing onshore certain U.S. foreign tax credits. The foreign tax credits brought onshore exceeded the amount needed to offset the cash tax impact of the dividend, as well as enough to allow us to carry $14 million of foreign tax credits back to a prior year and claim a refund. During 2015, a number of our intercompany liabilities that were denominated in U.S. dollars were owed by entities whose tax currency was the euro. As a result of the depreciation in the euro opposite the U.S. dollar, these entities recorded a tax only foreign exchange loss. Most of the intercompany receivables associated with these same U.S. dollar denominated intercompany debts were held by entities with a tax currency of the U.S. dollar which, therefore, resulted in no taxable gain. This resulted in a $33 million tax benefit ($58 million, net of $25 million of contingent liabilities and valuation allowances) in the fourth quarter of 2015. (2) During the three months ended September 30, 2014, as a result of extensive research and analysis, we filed amended U.S. tax returns for tax years 2008 through 2012, along with our original U.S. tax return for tax year 2013, and made elections which allowed us to utilize U.S. foreign tax credits. As a result of utilizing these assets that had been subject to a valuation allowance, we recognized a discrete income tax benefit of $94 million in the third quarter of 2014. (3) Basic and diluted income per share are computed independently for each of the quarters presented based on the weighted average number of common shares outstanding during that period. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.

GENERAL (Details)

GENERAL (Details)	12 Months Ended
	Dec. 31, 2015item
GENERAL
Percentage of holding in subsidiaries	100.00%
Number of Chinese chemical companies	3
Number of business segments	5

SUMMARY OF SIGNIFICANT ACCOUN65

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Foreign Currency Translation
Cumulative inflation rate used to determine if economic environment is highly inflationary (as a percent)	100.00%
Period used to determine if economic environment is highly inflationary	3 years
Foreign currency transaction net losses	$ 7	$ 15	$ 11
Minimum
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Minimum interval period of effectiveness assessments	3 months
Derivative designated as a cash flow hedge, effectiveness percentage (as a percent)	80.00%
Maximum
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Derivative designated as a cash flow hedge, effectiveness percentage (as a percent)	125.00%

SUMMARY OF SIGNIFICANT ACCOUN66

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Intangible Assets
Decrease in goodwill due to the finalization of the accounting for an acquisition	$ 6
Patents and technology | Minimum
Intangible Assets
Estimated useful life	5 years
Patents and technology | Maximum
Intangible Assets
Estimated useful life	30 years
Trademarks | Minimum
Intangible Assets
Estimated useful life	9 years
Trademarks | Maximum
Intangible Assets
Estimated useful life	30 years
Licenses and other agreements | Minimum
Intangible Assets
Estimated useful life	5 years
Licenses and other agreements | Maximum
Intangible Assets
Estimated useful life	15 years
Other intangibles | Minimum
Intangible Assets
Estimated useful life	5 years
Other intangibles | Maximum
Intangible Assets
Estimated useful life	15 years

SUMMARY OF SIGNIFICANT ACCOUN67

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($) shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Basic and diluted income from continuing operations:
Income from continuing operations attributable to Huntsman Corporation									$ 97	$ 331	$ 133
Basic and diluted net income:
Net income attributable to Huntsman Corporation	$ 4	$ 55	$ 29	$ 5	$ (38)	$ 188	$ 119	$ 54	$ 93	$ 323	$ 128
Shares (denominator):
Weighted average shares outstanding									242.8	242.1	239.7
Dilutive securities:
Stock-based awards (in shares)									2.6	3.9	2.7
Total weighted average shares outstanding, including dilutive shares									245.4	246	242.4

SUMMARY OF SIGNIFICANT ACCOUN68

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) - shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock-based awards
Antidilutive shares not included in the computation of income (loss) per share
Weighted average equivalent shares	6.1	1	7.3

SUMMARY OF SIGNIFICANT ACCOUN69

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Buildings and equipment | Minimum
Property, Plant and Equipment
Estimated useful lives	5 years
Buildings and equipment | Maximum
Property, Plant and Equipment
Estimated useful lives	50 years
Plant and equipment
Property, Plant and Equipment
Interest expense capitalized as part of plant and equipment	$ 22	$ 16	$ 7
Plant and equipment | Minimum
Property, Plant and Equipment
Estimated useful lives	3 years
Plant and equipment | Maximum
Property, Plant and Equipment
Estimated useful lives	30 years
Furniture, fixtures and leasehold improvements | Minimum
Property, Plant and Equipment
Estimated useful lives	5 years
Furniture, fixtures and leasehold improvements | Maximum
Property, Plant and Equipment
Estimated useful lives	20 years

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 01, 2014	Aug. 29, 2013	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquisition cost
Contingent consideration paid for acquisition				$ 4	$ 6
Purchase price adjustment received in 2015			$ (18)	(18)
Huntsman International
Acquisition cost
Contingent consideration paid for acquisition				4	6
Purchase price adjustment received in 2015				(18)
Rockwood Holdings, Inc
Acquisition cost
Transaction related costs				0	24	$ 8
Cash payments	$ 1,038
Expected purchase price adjustment receivable	(18)
Net acquisition cost	1,020
Fair value of assets acquired and liabilities assumed:
Cash	77
Accounts receivable	220
Inventories	401
Prepaid expenses and other current assets	55
Property, plant and equipment	665
Intangible assets	31
Deferred income taxes, non-current	106
Other assets	8
Accounts payable	(146)
Accrued expenses and other current liabilities	(106)
Long-term debt, non-current	(3)
Pension and related liabilities	(233)
Deferred income taxes, non-current	(9)
Other liabilities	(30)
Total fair value of net assets acquired	1,036
Noncontrolliing interest	(16)
Total	$ 1,020
Estimated pro forma revenues and net income (loss) attributable to business acquisition
Revenues				12,724	12,599
Net income attributable to business acquisition				$ 398	$ 100
Basic				$ 1.64	$ 0.42
Diluted				$ 1.62	$ 0.41
Rockwood Holdings, Inc | Developed technology
Acquisition cost
Acquired intangible assets estimated useful life				9 years
Rockwood Holdings, Inc | Trademarks
Acquisition cost
Acquired intangible assets estimated useful life				9 years
Rockwood Holdings, Inc | Customer relationships
Acquisition cost
Acquired intangible assets estimated useful life				9 years
Rockwood Holdings, Inc | Viance
Acquisition cost
Ownership interest of noncontrolling interest (as a percent)	50.00%
Rockwood Holdings, Inc | Huntsman International
Estimated pro forma revenues and net income (loss) attributable to business acquisition
Revenues				$ 12,724	$ 12,599
Net income attributable to business acquisition				$ 410	98
Oxid
Acquisition cost
Cash payments		$ 66
Contingent consideration paid for acquisition					$ 6
Contingent consideration related to the earn-out agreement		10
Net acquisition cost		$ 76
Earn-out period		2 years
Acquired intangible assets estimated useful life				15 years
Fair value of assets acquired and liabilities assumed:
Accounts receivable		$ 9
Inventories		14
Property, plant and equipment		22
Intangible assets		36
Accounts payable		(4)
Accrued expenses and other current liabilities		(1)
Total fair value of net assets acquired		$ 76
Estimated pro forma revenues and net income (loss) attributable to business acquisition
Revenues						11,142
Net income attributable to business acquisition						$ 135
Basic						$ 0.56
Diluted						$ 0.56
Oxid | Huntsman International
Estimated pro forma revenues and net income (loss) attributable to business acquisition
Revenues						$ 11,142
Net income attributable to business acquisition						$ 133

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions		Dec. 31, 2015	Dec. 31, 2014
Inventories
Raw materials and supplies		$ 389	$ 508
Work in progress		125	96
Finished goods		1,221	1,494
Total		1,735	2,098
LIFO reserves		(43)	(73)
Net inventories	[1]	$ 1,692	$ 2,025
Percentage of inventories recorded using the LIFO cost method		9.00%	9.00%
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

PROPERTY, PLANT AND EQUIPMENT72

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Property, Plant and Equipment
Total	$ 8,917		$ 8,784
Less accumulated depreciation	(4,471)		(4,361)
Net	4,446	[1]	4,423	[1]	$ 3,824
Depreciation expense	377		413		415
Depreciation expense related to discontinued operations	0		0		2
Huntsman International
Property, Plant and Equipment
Total	8,945		8,813
Less accumulated depreciation	(4,535)		(4,438)
Net	4,410	[1]	4,375	[1]	3,759
Depreciation expense	365		398		391
Depreciation expense related to discontinued operations	0		0		$ 2
Land
Property, Plant and Equipment
Total	208		227
Land | Huntsman International
Property, Plant and Equipment
Total	208		227
Buildings
Property, Plant and Equipment
Total	793		799
Buildings | Huntsman International
Property, Plant and Equipment
Total	793		799
Plant and equipment
Property, Plant and Equipment
Total	6,981		6,889
Plant and equipment | Huntsman International
Property, Plant and Equipment
Total	7,009		6,918
Construction in progress
Property, Plant and Equipment
Total	935		869
Construction in progress | Huntsman International
Property, Plant and Equipment
Total	$ 935		$ 869
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

INVESTMENT IN UNCONSOLIDATED 73

INVESTMENT IN UNCONSOLIDATED AFFILIATES (Details) - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2012	Dec. 31, 2015	Dec. 31, 2014
Investment in unconsolidated affiliates
Total equity method investments		$ 338	$ 341
Total investments		347	350
Cumulative capital contributions, net of license fees from joint venture		85
International Diol Company
Investment in unconsolidated affiliates
Investment in cost method unconsolidated affiliates		$ 5	5
Ownership percentage in cost method unconsolidated affiliates		4.00%
White Mountain Titanium Corporation
Investment in unconsolidated affiliates
Investment in cost method unconsolidated affiliates		$ 3	3
Ownership percentage in cost method unconsolidated affiliates		3.00%
Louisiana Pigment Company, L.P.
Investment in unconsolidated affiliates
Total equity method investments		$ 84	91
Ownership interest (as a percent)		50.00%
BASF Huntsman Shanghai Isocyanate Investment BV
Investment in unconsolidated affiliates
Total equity method investments		$ 116	100
Ownership interest (as a percent)		50.00%
BASF Huntsman Shanghai Isocyanate Investment BV | SLIC
Investment in unconsolidated affiliates
Ownership interest held by equity method investee that creates an indirect ownership interest by the reporting entity (as a percent)		70.00%
Indirect ownership interest in an unaffiliated entity (as a percent)		35.00%
Nanjing Jinling Huntsman New Material Co., Ltd.
Investment in unconsolidated affiliates
Total equity method investments		$ 120	122
Ownership interest (as a percent)		49.00%
Jurong Ningwu New Materials Development Co Ltd
Investment in unconsolidated affiliates
Total equity method investments		$ 18	16
Ownership interest (as a percent)		30.00%
Nippon Aqua Co., Ltd.
Investment in unconsolidated affiliates
Total equity method investments			$ 12
Ownership interest (as a percent)			15.00%
Others
Investment in unconsolidated affiliates
Investment in cost method unconsolidated affiliates		$ 1	$ 1
Sinopec (Nanjing Jingling)
Investment in unconsolidated affiliates
Total equity method investments		$ 85
Other information
Huntsman share of joint venture (as a percent)	49.00%
Joint venture partner share of joint venture (as a percent)	51.00%

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions		Dec. 31, 2015		Dec. 31, 2014		Oct. 01, 2014	Dec. 31, 2013	Mar. 31, 2011
Assets and liabilities of VIE
Current assets		$ 3,834		$ 5,039
Property, plant and equipment, net		4,446	[1]	4,423	[1]		$ 3,824
Other noncurrent assets	[1]	573		459
Deferred income taxes		418		435
Intangible assets, net	[1]	86		95
Goodwill		116		122
Total assets		9,820		10,923			$ 9,159
Current liabilities		1,917		2,332
Long-term debt	[1]	4,625		4,854
Deferred income taxes		422		333
Other noncurrent liabilities	[1]	1,226		1,447
Total liabilities		$ 8,191		8,972
Noncontrolling interest (as a percent)		100.00%
Consolidated VIE's
Assets and liabilities of VIE
Property, plant and equipment, net		$ 307		339
Other noncurrent assets		38		27
Intangible assets, net		36		40
Long-term debt		137		36
Other noncurrent liabilities		54		97
Rubicon LLC, Pacific Iron Products, Arabian Amines and Sasol Huntsman GmbH, Co. KG and Viance
Assets and liabilities of VIE
Current assets		121		186
Property, plant and equipment, net		307		340
Other noncurrent assets		95		70
Deferred income taxes		35		50
Intangible assets, net		36		39
Goodwill		13		14
Total assets		607		699
Current liabilities		159		356
Long-term debt		140		42
Deferred income taxes		11		9
Other noncurrent liabilities		54		97
Total liabilities		$ 364		$ 504
Sasol Huntsman GmbH and Co. KG
Assets and liabilities of VIE
Noncontrolling interest (as a percent)								50.00%
Viance
Assets and liabilities of VIE
Noncontrolling interest (as a percent)						50.00%
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets
Carrying Amount	$ 492	$ 499
Accumulated Amortization	406	404
Net	86	95
Amortization expense	8	19	$ 21
Estimated future amortization expense
2,016	12
2,017	9
2,018	9
2,019	9
2,020	9
Huntsman International
Intangible Assets
Carrying Amount	499	506
Accumulated Amortization	413	410
Net	86	96
Amortization expense	8	19	$ 21
Patents, trademarks and technology
Intangible Assets
Carrying Amount	369	371
Accumulated Amortization	327	328
Net	42	43
Patents, trademarks and technology | Huntsman International
Intangible Assets
Carrying Amount	369	371
Accumulated Amortization	327	328
Net	42	43
Licenses and other agreements
Intangible Assets
Carrying Amount	38	37
Accumulated Amortization	22	19
Net	16	18
Licenses and other agreements | Huntsman International
Intangible Assets
Carrying Amount	38	37
Accumulated Amortization	22	19
Net	16	18
Non-compete agreements
Intangible Assets
Carrying Amount	3	4
Accumulated Amortization	2	2
Net	1	2
Non-compete agreements | Huntsman International
Intangible Assets
Carrying Amount	3	4
Accumulated Amortization	2	2
Net	1	2
Other intangibles
Intangible Assets
Carrying Amount	82	87
Accumulated Amortization	55	55
Net	27	32
Other intangibles | Huntsman International
Intangible Assets
Carrying Amount	89	94
Accumulated Amortization	62	61
Net	$ 27	$ 33

OTHER NONCURRENT ASSETS (Detail

OTHER NONCURRENT ASSETS (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OTHER NONCURRENT ASSETS
Capitalized turnaround costs		$ 248	$ 191
Spare parts inventory		95	96
Deposits		45	43
Catalyst assets		44	28
Investment in available for sale securities		18
Pension assets		35	8
Other		88	93
Total	[1]	573	459
Amortization expense of catalyst assets		$ 14	$ 13	$ 12
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions		Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities
Payroll and related costs		$ 183	$ 204
Volume and rebate accruals		72	79
Restructuring and plant closing costs		117	89
Taxes other than income taxes		65	65
Income taxes		18	35
Interest		22	32
Pension liabilities		11	13
Other postretirement benefits		9	9
Environmental accruals		6	7
Asset retirement obligations		18
Other miscellaneous accruals		165	206
Total	[1]	686	739
Huntsman International
Accrued Liabilities
Payroll and related costs		183	204
Volume and rebate accruals		72	79
Restructuring and plant closing costs		117	89
Taxes other than income taxes		65	65
Income taxes		18	35
Interest		22	32
Pension liabilities		11	13
Other postretirement benefits		9	9
Environmental accruals		6	7
Asset retirement obligations		18
Other miscellaneous accruals		162	203
Total	[1]	$ 683	$ 736
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

RESTRUCTURING, IMPAIRMENT AND78

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Details) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Accrued restructuring costs by type of cost and initiative
Prepaid severance and other restructuring costs	$ 49
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period		$ 138	$ 113	$ 105
Adjustment to Pigments & Additives opening balance sheet liabilities		1	1
Reversal of reserves no longer required		(13)	(5)	(26)
Net activity of discontinued operations			(2)	(3)
Foreign currency effect on liability balance		(9)	(10)	2
Accrued liabilities at the end of the period	168	168	138	113
2012 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges				121
Restructuring payments				(104)
2013 initiatives
Accrued restructuring costs rollforward
Restructuring charges				36
Restructuring payments				(18)
2013 and prior initiatives
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period		75
Restructuring charges			65
Restructuring payments			(86)
Accrued liabilities at the end of the period	68	68	75
2014 initiatives
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period		63
Restructuring charges			64
Restructuring payments			(2)
Accrued liabilities at the end of the period	75	75	63
2014 initiatives and prior
Accrued restructuring costs rollforward
Restructuring charges		133
Restructuring payments		(114)
2015 initiatives
Accrued restructuring costs rollforward
Restructuring charges		67
Restructuring payments		(35)
Accrued liabilities at the end of the period	25	25
Workforce reductions
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period		87	52	90
Adjustment to Pigments & Additives opening balance sheet liabilities		1	1
Reversal of reserves no longer required		(7)	(4)	(22)
Foreign currency effect on liability balance		(7)	(4)
Accrued liabilities at the end of the period	109	$ 109	87	52
Number of positions terminated | item		1,057
Number of positions not terminated | item		972
Workforce reductions | 2012 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges				32
Restructuring payments				(66)
Workforce reductions | 2013 initiatives
Accrued restructuring costs rollforward
Restructuring charges				28
Restructuring payments				(10)
Workforce reductions | 2013 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges			37
Restructuring payments			(58)
Workforce reductions | 2014 initiatives
Accrued restructuring costs rollforward
Restructuring charges			64
Restructuring payments			(1)
Workforce reductions | 2014 initiatives and prior
Accrued restructuring costs rollforward
Restructuring charges		$ 71
Restructuring payments		(68)
Workforce reductions | 2015 initiatives
Accrued restructuring costs rollforward
Restructuring charges		58
Restructuring payments		(26)
Demolition and decommissioning
Accrued restructuring costs rollforward
Accrued liabilities at the end of the period	16	16
Demolition and decommissioning | 2012 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges				16
Restructuring payments				(16)
Demolition and decommissioning | 2013 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges			7
Restructuring payments			(7)
Demolition and decommissioning | 2014 initiatives and prior
Accrued restructuring costs rollforward
Restructuring charges		24
Restructuring payments		(8)
Demolition and decommissioning | 2015 initiatives
Accrued restructuring costs rollforward
Restructuring charges		1
Restructuring payments		(1)
Non-cancelable lease costs
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period		48	60	15
Reversal of reserves no longer required		(6)		(4)
Net activity of discontinued operations			(2)	(3)
Foreign currency effect on liability balance		(2)	(6)	2
Accrued liabilities at the end of the period	38	38	48	60
Non-cancelable lease costs | 2012 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges				53
Restructuring payments				(3)
Non-cancelable lease costs | 2013 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges			4
Restructuring payments			(8)
Non-cancelable lease costs | 2014 initiatives and prior
Accrued restructuring costs rollforward
Restructuring charges		15
Restructuring payments		(17)
Other restructuring costs
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period		3	1
Reversal of reserves no longer required			(1)
Accrued liabilities at the end of the period	$ 5	5	3	1
Other restructuring costs | 2012 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges				20
Restructuring payments				(19)
Other restructuring costs | 2013 initiatives
Accrued restructuring costs rollforward
Restructuring charges				8
Restructuring payments				$ (8)
Other restructuring costs | 2013 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges			17
Restructuring payments			(13)
Other restructuring costs | 2014 initiatives
Accrued restructuring costs rollforward
Restructuring payments			$ (1)
Other restructuring costs | 2014 initiatives and prior
Accrued restructuring costs rollforward
Restructuring charges		23
Restructuring payments		(21)
Other restructuring costs | 2015 initiatives
Accrued restructuring costs rollforward
Restructuring charges		8
Restructuring payments		$ (8)

RESTRUCTURING, IMPAIRMENT AND79

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Details 2) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accrued liabilities by initiatives
Accrued liabilities	$ 168	$ 138	$ 113	$ 105
2013 and prior initiatives
Accrued liabilities by initiatives
Accrued liabilities	68	75
2014 initiatives
Accrued liabilities by initiatives
Accrued liabilities	75	$ 63
2015 initiatives
Accrued liabilities by initiatives
Accrued liabilities	$ 25

RESTRUCTURING, IMPAIRMENT AND80

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Details 3) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	$ 138	$ 113	$ 105
Adjustment to Pigments & Additives opening balance sheet liabilities	1	1
Reversal of reserves no longer required	(13)	(5)	(26)
Net activity of discontinued operations		(2)	(3)
Foreign currency effect on liability balance	(9)	(10)	2
Accrued liabilities at the end of the period	168	138	113
Current portion of restructuring reserves	117	89
Long-term portion of restructuring reserves	51	49
Corporate and other
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	4	9	2
Restructuring charges	8	13
Reversal of reserves no longer required	(1)	(1)
Accrued liabilities at the end of the period	4	4	9
Current portion of restructuring reserves	4
Polyurethanes
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	6	9	27
Reversal of reserves no longer required	(4)	(1)	(9)
Foreign currency effect on liability balance	(1)	(1)
Accrued liabilities at the end of the period	5	6	9
Current portion of restructuring reserves	4
Long-term portion of restructuring reserves	1
Performance Products
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	9	10
Reversal of reserves no longer required	(1)
Foreign currency effect on liability balance	(1)	(2)	(1)
Accrued liabilities at the end of the period	9	9	10
Current portion of restructuring reserves	9
Advanced Materials
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	5	12	27
Reversal of reserves no longer required		(2)	(8)
Foreign currency effect on liability balance		(1)
Accrued liabilities at the end of the period	4	5	12
Long-term portion of restructuring reserves	4
Textile Effects
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	54	68	42
Reversal of reserves no longer required	(7)	(1)	(9)
Foreign currency effect on liability balance	(1)	(6)	2
Accrued liabilities at the end of the period	55	54	68
Current portion of restructuring reserves	16
Long-term portion of restructuring reserves	39
Pigments and Additives
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	59	2	1
Adjustment to Pigments & Additives opening balance sheet liabilities	1	1
Foreign currency effect on liability balance	(6)		1
Accrued liabilities at the end of the period	90	59	2
Current portion of restructuring reserves	83
Long-term portion of restructuring reserves	7
Discontinued Operations
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	1	3	6
Net activity of discontinued operations		(2)	(3)
Accrued liabilities at the end of the period	1	1	3
Current portion of restructuring reserves	1
2012 and prior initiatives
Accrued restructuring costs rollforward
Restructuring charges			121
Restructuring payments			(104)
2012 and prior initiatives | Corporate and other
Accrued restructuring costs rollforward
Restructuring charges			1
Restructuring payments			(1)
2012 and prior initiatives | Polyurethanes
Accrued restructuring costs rollforward
Restructuring charges			5
Restructuring payments			(14)
2012 and prior initiatives | Advanced Materials
Accrued restructuring costs rollforward
Restructuring charges			38
Restructuring payments			(45)
2012 and prior initiatives | Textile Effects
Accrued restructuring costs rollforward
Restructuring charges			73
Restructuring payments			(41)
2012 and prior initiatives | Pigments and Additives
Accrued restructuring costs rollforward
Restructuring charges			4
Restructuring payments			(3)
2013 initiatives
Accrued restructuring costs rollforward
Restructuring charges			36
Restructuring payments			(18)
2013 initiatives | Corporate and other
Accrued restructuring costs rollforward
Restructuring charges			17
Restructuring payments			(10)
2013 initiatives | Performance Products
Accrued restructuring costs rollforward
Restructuring charges			18
Restructuring payments			(7)
2013 initiatives | Textile Effects
Accrued restructuring costs rollforward
Restructuring charges			1
2013 initiatives | Pigments and Additives
Accrued restructuring costs rollforward
Restructuring payments			$ (1)
2013 and prior initiatives
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	75
Restructuring charges		65
Restructuring payments		(86)
Accrued liabilities at the end of the period	68	75
2013 and prior initiatives | Corporate and other
Accrued restructuring costs rollforward
Restructuring charges		14
Restructuring payments		(18)
2013 and prior initiatives | Polyurethanes
Accrued restructuring costs rollforward
Restructuring charges		2
Restructuring payments		(3)
2013 and prior initiatives | Performance Products
Accrued restructuring costs rollforward
Restructuring charges		23
Restructuring payments		(22)
2013 and prior initiatives | Advanced Materials
Accrued restructuring costs rollforward
Restructuring charges		10
Restructuring payments		(14)
2013 and prior initiatives | Textile Effects
Accrued restructuring costs rollforward
Restructuring charges		13
Restructuring payments		(25)
2013 and prior initiatives | Pigments and Additives
Accrued restructuring costs rollforward
Restructuring charges		3
Restructuring payments		(4)
2014 initiatives
Accrued restructuring costs rollforward
Accrued liabilities at the beginning of the period	63
Restructuring charges		64
Restructuring payments		(2)
Accrued liabilities at the end of the period	75	63
2014 initiatives | Advanced Materials
Accrued restructuring costs rollforward
Restructuring charges		1
Restructuring payments		(1)
2014 initiatives | Textile Effects
Accrued restructuring costs rollforward
Restructuring charges		6
Restructuring payments		(1)
2014 initiatives | Pigments and Additives
Accrued restructuring costs rollforward
Restructuring charges		$ 57
2014 initiatives and prior
Accrued restructuring costs rollforward
Restructuring charges	133
Restructuring payments	(114)
2014 initiatives and prior | Corporate and other
Accrued restructuring costs rollforward
Restructuring charges	8
Restructuring payments	(7)
2014 initiatives and prior | Polyurethanes
Accrued restructuring costs rollforward
Restructuring charges	2
Restructuring payments	(4)
2014 initiatives and prior | Performance Products
Accrued restructuring costs rollforward
Restructuring charges	3
Restructuring payments	(8)
2014 initiatives and prior | Advanced Materials
Accrued restructuring costs rollforward
Restructuring charges	1
Restructuring payments	(2)
2014 initiatives and prior | Textile Effects
Accrued restructuring costs rollforward
Restructuring charges	42
Restructuring payments	(34)
2014 initiatives and prior | Pigments and Additives
Accrued restructuring costs rollforward
Restructuring charges	77
Restructuring payments	(59)
2015 initiatives
Accrued restructuring costs rollforward
Restructuring charges	67
Restructuring payments	(35)
Accrued liabilities at the end of the period	25
2015 initiatives | Corporate and other
Accrued restructuring costs rollforward
Restructuring charges	1
Restructuring payments	(1)
2015 initiatives | Polyurethanes
Accrued restructuring costs rollforward
Restructuring charges	17
Restructuring payments	(11)
2015 initiatives | Performance Products
Accrued restructuring costs rollforward
Restructuring charges	8
Restructuring payments	(1)
2015 initiatives | Advanced Materials
Accrued restructuring costs rollforward
Restructuring charges	5
Restructuring payments	(5)
2015 initiatives | Textile Effects
Accrued restructuring costs rollforward
Restructuring charges	2
Restructuring payments	(1)
2015 initiatives | Pigments and Additives
Accrued restructuring costs rollforward
Restructuring charges	34
Restructuring payments	$ (16)

RESTRUCTURING, IMPAIRMENT AND81

RESTRUCTURING, IMPAIRMENT AND PLANT CLOSING COSTS (Details 4) $ in Millions

Feb. 12, 2015kt

Dec. 01, 2014item

Dec. 31, 2015USD ($)

Sep. 30, 2015USD ($)

Jun. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Sep. 30, 2014USD ($)

Jun. 30, 2014USD ($)

Mar. 31, 2014USD ($)

Dec. 31, 2015USD ($)item

Dec. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

$ (13)

$ (5)

$ (26)

Pension-related settlement charges

3

2

7

Accelerated depreciation

74

Other non-cash charges

38

32

13

Other non-cash charges

112

37

13

Total restructuring, impairment and plant closing costs

$ 81

$ 14

$ 114

$ 93

$ 67

$ 39

$ 13

$ 39

302

158

151

Impairment of long-lived assets

19

26

Calais, France Facility

Accrued restructuring costs by type of cost and initiative

Accelerated depreciation

68

Other non-cash charges

17

Decrease in titanium dioxide capacity due to closing operations | kt

100

Decrease in titanium dioxide capacity due to closing operations (as a percent)

13.00%

Performance Products

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

(1)

Polyurethanes

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

(4)

(1)

(9)

Pension-related settlement charges

6

Polyurethanes | Netherlands

Accrued restructuring costs by type of cost and initiative

Other non-cash charges

16

Advanced Materials

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

(2)

(8)

Textile Effects

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

(7)

(1)

(9)

Textile Effects | Basel, Switzerland

Accrued restructuring costs by type of cost and initiative

Restructuring charges

14

19

73

Reversal of reserves no longer required

5

Pension-related settlement charges

9

Noncash pension-related charges

9

Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Pension-related settlement charges

3

Pigments and Additives | Calais, France Facility

Accrued restructuring costs by type of cost and initiative

Decrease in titanium dioxide capacity due to closing operations | kt

100

Pigments and Additives | South African asset group of Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Impairment of long-lived assets

$ 19

Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

8

13

Reversal of reserves no longer required

(1)

(1)

Workforce reductions

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

$ (7)

(4)

(22)

Number of positions terminated | item

1,057

Workforce reductions | Calais, France Facility

Accrued restructuring costs by type of cost and initiative

Restructuring charges

$ 30

Workforce reductions | Performance Products

Accrued restructuring costs by type of cost and initiative

Restructuring charges

8

23

Workforce reductions | Performance Products | Surfactants business, Europe

Accrued restructuring costs by type of cost and initiative

Restructuring charges

13

Workforce reductions | Performance Products | Australian operation

Accrued restructuring costs by type of cost and initiative

Restructuring charges

5

Workforce reductions | Polyurethanes

Accrued restructuring costs by type of cost and initiative

Restructuring charges

13

5

Reversal of reserves no longer required

9

Workforce reductions | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

11

11

Workforce reductions | Textile Effects | Basel, Switzerland

Accrued restructuring costs by type of cost and initiative

Restructuring charges

6

Workforce reductions | Pigments

Accrued restructuring costs by type of cost and initiative

Restructuring charges

4

Workforce reductions | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

$ 57

$ 61

Number of positions terminated | item

900

Expected number of positions to be terminated | item

900

Workforce reductions | Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

18

Non-cancelable lease costs

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

$ (6)

(4)

Non-cancelable lease costs | Textile Effects | Basel, Switzerland

Accrued restructuring costs by type of cost and initiative

Restructuring charges

9

Demolition and decommissioning | Textile Effects | Basel, Switzerland

Accrued restructuring costs by type of cost and initiative

Restructuring charges

21

Other restructuring costs

Accrued restructuring costs by type of cost and initiative

Reversal of reserves no longer required

(1)

Other restructuring costs | Textile Effects | Basel, Switzerland

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

Other restructuring costs | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

15

Global transformational change program | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

38

Reversal of reserves no longer required

8

Other non-cash charges

4

2014 initiatives and prior

Accrued restructuring costs by type of cost and initiative

Restructuring charges

133

2014 initiatives and prior | Performance Products

Accrued restructuring costs by type of cost and initiative

Restructuring charges

3

2014 initiatives and prior | Polyurethanes

Accrued restructuring costs by type of cost and initiative

Restructuring charges

2

2014 initiatives and prior | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

2014 initiatives and prior | Textile Effects

Accrued restructuring costs by type of cost and initiative

Restructuring charges

42

2014 initiatives and prior | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

77

2014 initiatives and prior | Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

8

2014 initiatives and prior | Workforce reductions

Accrued restructuring costs by type of cost and initiative

Restructuring charges

71

2014 initiatives and prior | Non-cancelable lease costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

15

2014 initiatives and prior | Demolition and decommissioning

Accrued restructuring costs by type of cost and initiative

Restructuring charges

24

2014 initiatives and prior | Other restructuring costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

23

2015 initiatives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

67

2015 initiatives | Performance Products

Accrued restructuring costs by type of cost and initiative

Restructuring charges

8

2015 initiatives | Polyurethanes

Accrued restructuring costs by type of cost and initiative

Restructuring charges

17

2015 initiatives | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

5

2015 initiatives | Textile Effects

Accrued restructuring costs by type of cost and initiative

Restructuring charges

2

2015 initiatives | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

34

2015 initiatives | Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

2015 initiatives | Workforce reductions

Accrued restructuring costs by type of cost and initiative

Restructuring charges

58

2015 initiatives | Demolition and decommissioning

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

2015 initiatives | Other restructuring costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

8

2013 and prior initiatives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

65

2013 and prior initiatives | Performance Products

Accrued restructuring costs by type of cost and initiative

Restructuring charges

23

2013 and prior initiatives | Polyurethanes

Accrued restructuring costs by type of cost and initiative

Restructuring charges

2

2013 and prior initiatives | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

10

2013 and prior initiatives | Textile Effects

Accrued restructuring costs by type of cost and initiative

Restructuring charges

13

2013 and prior initiatives | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

3

2013 and prior initiatives | Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

14

2013 and prior initiatives | Workforce reductions

Accrued restructuring costs by type of cost and initiative

Restructuring charges

37

2013 and prior initiatives | Non-cancelable lease costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

4

2013 and prior initiatives | Demolition and decommissioning

Accrued restructuring costs by type of cost and initiative

Restructuring charges

7

2013 and prior initiatives | Other restructuring costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

17

2014 initiatives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

64

2014 initiatives | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

2014 initiatives | Textile Effects

Accrued restructuring costs by type of cost and initiative

Restructuring charges

6

2014 initiatives | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

57

2014 initiatives | Workforce reductions

Accrued restructuring costs by type of cost and initiative

Restructuring charges

$ 64

2012 and prior initiatives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

121

2012 and prior initiatives | Polyurethanes

Accrued restructuring costs by type of cost and initiative

Restructuring charges

5

2012 and prior initiatives | Advanced Materials

Accrued restructuring costs by type of cost and initiative

Restructuring charges

38

2012 and prior initiatives | Textile Effects

Accrued restructuring costs by type of cost and initiative

Restructuring charges

73

2012 and prior initiatives | Pigments and Additives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

4

2012 and prior initiatives | Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

2012 and prior initiatives | Workforce reductions

Accrued restructuring costs by type of cost and initiative

Restructuring charges

32

2012 and prior initiatives | Non-cancelable lease costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

53

2012 and prior initiatives | Demolition and decommissioning

Accrued restructuring costs by type of cost and initiative

Restructuring charges

16

2012 and prior initiatives | Other restructuring costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

20

2013 initiatives

Accrued restructuring costs by type of cost and initiative

Restructuring charges

36

2013 initiatives | Performance Products

Accrued restructuring costs by type of cost and initiative

Restructuring charges

18

2013 initiatives | Textile Effects

Accrued restructuring costs by type of cost and initiative

Restructuring charges

1

2013 initiatives | Corporate and other

Accrued restructuring costs by type of cost and initiative

Restructuring charges

17

2013 initiatives | Workforce reductions

Accrued restructuring costs by type of cost and initiative

Restructuring charges

28

2013 initiatives | Other restructuring costs

Accrued restructuring costs by type of cost and initiative

Restructuring charges

$ 8

Other initiatives | Textile Effects | Basel, Switzerland

Accrued restructuring costs by type of cost and initiative

Restructuring charges

$ 6

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
ASSET RETIREMENT OBLIGATIONS.
Asset retirement obligations at beginning of year	$ 26	$ 29
Accretion expense	3	2
Liabilities assumed in connection with the Rockwood Acquisition	30
Liabilities settled	(1)	(2)
Foreign currency effect on reserve balance	(6)	(3)
Asset retirement obligations at end of year	$ 52	$ 26

OTHER NONCURRENT LIABILITIES (D

OTHER NONCURRENT LIABILITIES (Details) - USD ($) $ in Millions		Dec. 31, 2015	Dec. 31, 2014
Other noncurrent liabilities
Pension liabilities		$ 842	$ 965
Other postretirement benefits		84	134
Environmental accruals		32	53
Restructuring and plant closing costs		51	49
Employee benefit accrual		36	39
Asset retirement obligations		34	26
Other		147	181
Other noncurrent liabilities	[1]	1,226	1,447
Huntsman International
Other noncurrent liabilities
Pension liabilities		842	965
Other postretirement benefits		84	134
Environmental accruals		32	53
Restructuring and plant closing costs		51	49
Employee benefit accrual		36	39
Asset retirement obligations		34	26
Other		145	177
Other noncurrent liabilities	[1]	$ 1,224	$ 1,443
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

DEBT (Details)

DEBT (Details) € in Millions, ¥ in Millions, $ in Millions		Oct. 01, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2015USD ($)	Jul. 24, 2015CNY (¥)	Jul. 24, 2015USD ($)	Mar. 31, 2015EUR (€)	Mar. 31, 2015USD ($)	Oct. 15, 2013USD ($)
Debt
Total debt - excluding debt to affiliates				$ 5,121		$ 4,795
Total current portion of debt	[1]			267		170
Long-term portion	[1]			4,854		4,625
Total debt - excluding debt to affiliates				5,121		4,795
Notes payable to affiliates-noncurrent				6		1
Total debt				5,127		4,796
Debt issuances costs			$ 67	79
Consolidated VIE's
Debt
Total current portion of debt				172		15
Long-term portion				36		137
Total debt - excluding debt to affiliates				207		151
Arabian Amines Company
Debt
Total current portion of debt						11
Long-term portion						132
Total debt - excluding debt to affiliates						143
A/R Programs
Variable interest entity ownership percentage			50.00%
Huntsman International
Debt
Total debt - excluding debt to affiliates				5,121		4,795
Total current portion of debt				267		170
Long-term portion	[1]			4,854		4,625
Total debt - excluding debt to affiliates				5,121		4,795
Notes payable to affiliates-current				100		100
Notes payable to affiliates-noncurrent				656		698
Total debt				5,877		5,593
Huntsman International | Consolidated VIE's
Debt
Total current portion of debt				172		15
Long-term portion				36		137
Total debt - excluding debt to affiliates				207		151
Term loans
Debt
Total debt - excluding debt to affiliates				2,468		2,454
Term loans | Huntsman International
Debt
Total debt - excluding debt to affiliates				2,468		$ 2,454
Senior Credit Facilities | Huntsman International
Debt
Weighted average interest rate at period end (as a percent)					3.00%	3.00%
Other debt instruments
Debt
Total debt - excluding debt to affiliates				109		$ 125
Other debt instruments | Huntsman International
Debt
Total debt - excluding debt to affiliates				109		125
Revolving Facility | Huntsman International
Debt
Revolving Increase provided by commitments		$ 25
Principal Outstanding		$ 625				625
Carrying amount						0
Amount of letter of credit and bank guarantees issued and outstanding						15
Revolving Facility | Huntsman International | LIBOR
Debt
Reference rate (as a percent)			2.75%
Revolving Facility | Huntsman International | Maximum
A/R Programs
Debt instrument covenant consolidated leverage ratio			3.75
Extended Term Loan B | Huntsman International
Debt
Unamortized discounts and debt issuance costs						(1)
Principal Outstanding						312
Carrying amount						311
Extended Term Loan B | Huntsman International | LIBOR
Debt
Reference rate (as a percent)			2.75%
Extended Term Loans B Series 2 | Huntsman International
Debt
Principal Outstanding						192
Carrying amount						192
Extended Term Loans B Series 2 | Huntsman International | LIBOR
Debt
Reference rate (as a percent)			3.00%
2015 Extended Term Loan B | Huntsman International
Debt
Unamortized discounts and debt issuance costs						(5)
Principal Outstanding						773
Carrying amount						768
2015 Extended Term Loan B | Huntsman International | LIBOR
Debt
Reference rate (as a percent)			3.00%
2014 New Term Loan | Huntsman International
Debt
Unamortized discounts and debt issuance costs						(55)
Principal Outstanding						1,188
Carrying amount						1,133
Principal amount of debt											$ 773,000
A/R Programs
Percentage of amortization of the original principal amount		1.00%
2014 New Term Loan | Huntsman International | LIBOR
Debt
Reference rate		LIBOR
Reference rate (as a percent)		3.00%	3.00%
2014 New Term Loan | Huntsman International | LIBOR Floor
Debt
Reference rate		LIBOR floor
Reference rate (as a percent)		0.75%	0.75%
Term Loan C | Huntsman International
Debt
Principal Outstanding						50
Carrying amount						50
Term Loan C | Huntsman International | LIBOR
Debt
Reference rate (as a percent)			2.25%
Intercompany Note
A/R Programs
Outstanding loan due from Huntsman International						797
Due from Huntsman International, current						100
Intercompany Note | Minimum
Debt
Reference rate			U.S A/R Program
Reference rate (as a percent)			(0.10%)
Intercompany Note | Maximum
Debt
Reference rate			LIBOR
Reference rate (as a percent)			(0.25%)
Intercompany Note | Huntsman International
A/R Programs
Outstanding loan due to Huntsman Corporation						797
Due to Huntsman Corporation, current						100
Intercompany Note | Huntsman International | Minimum
Debt
Reference rate			U.S. A/R Program
Reference rate (as a percent)			(0.10%)
Intercompany Note | Huntsman International | Maximum
Debt
Reference rate			LIBOR
Reference rate (as a percent)			(0.25%)
2020 Senior Notes | Huntsman International
Debt
Unamortized discounts and debt issuance costs						(4)
Total debt						650
Carrying amount						$ 646
Interest rate (as a percent)					4.875%	4.875%
2021 Senior Notes | Huntsman International
Debt
Unamortized discounts and debt issuance costs						$ (2)
Total debt | €					€ 445
Carrying amount					€ 443	$ 484
Interest rate (as a percent)					5.125%	5.125%
2022 Senior Notes | Huntsman International
Debt
Unamortized discounts and debt issuance costs						$ (4)
Total debt						400
Carrying amount						$ 396
Interest rate (as a percent)					5.125%	5.125%
2022 Senior Notes | Huntsman International | Prior to January 1, 2025
A/R Programs
Percentage of principal amount at which the entity may redeem some or all of the notes			100.00%
2025 Senior Notes
Debt
Principal amount of debt										$ 326
2025 Senior Notes | Huntsman International
Debt
Unamortized discounts and debt issuance costs						$ (4)
Total debt | €					€ 300
Carrying amount					€ 297	$ 324
Interest rate (as a percent)					4.25%	4.25%			4.25%	4.25%
Principal amount of debt									€ 300	$ 300
Accounts receivable programs
Debt
Total debt - excluding debt to affiliates				229		$ 215
Accounts receivable programs | Huntsman International
Debt
Total debt - excluding debt to affiliates				229		215
A/R Programs
Accounts receivable pledged as collateral				472		438
U.S. A/R Program Maturing March 2018 | Huntsman International
Debt
Carrying amount						90
Reference rate			USD LIBOR
Amount of letter of credit and bank guarantees issued and outstanding						7
A/R Programs
Reduction in applicable margin on borrowings (as a percent)			0.95%
Maximum Funding Availability						250
EU A/R Program Maturing March 2018 | Huntsman International
Debt
Carrying amount					€ 114	125
Reference rate			GBP LIBOR, USD LIBOR or EURIBOR
A/R Programs
Reduction in applicable margin on borrowings (as a percent)			1.10%
Maximum Funding Availability					€ 225	246
HPS (China) debt
Debt
Carrying amount								$ 0
HPS China Term Loan
Debt
Principal amount of debt							¥ 669	103
HPS China Working Capital Facility
Debt
Principal Outstanding							¥ 423	$ 65
Senior notes
Debt
Total debt - excluding debt to affiliates				1,582		1,850
Senior notes | Huntsman International
Debt
Total debt - excluding debt to affiliates				1,582		$ 1,850
Senior notes | Huntsman International | Occurrence of certain change of control events
A/R Programs
Percentage of principal amount at which the entity may redeem some or all of the notes			101.00%
Senior subordinated notes
Debt
Total debt - excluding debt to affiliates				526
Senior subordinated notes | Huntsman International
Debt
Total debt - excluding debt to affiliates				$ 526
Rockwood Holdings, Inc | 2014 New Term Loan | Huntsman International
Debt
Principal amount of debt		$ 1,200
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

DEBT (Details 2)

DEBT (Details 2) - USD ($) $ in Millions	Apr. 17, 2015	Sep. 30, 2015	Apr. 30, 2015	Jan. 31, 2015	Dec. 31, 2014	Nov. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Redemption of Notes and Loss on Early Extinguishment of Debt
Loss on early extinguishment of debt							$ 31	$ 28	$ 51
Scheduled maturities of our debt (excluding debt to affiliates)
2,016							170
2,017							546
2,018							269
2,019							786
2,020							693
Thereafter							2,331
Total Debt Excluding Debt to Affiliates					$ 5,121		4,795	5,121
Huntsman International
Redemption of Notes and Loss on Early Extinguishment of Debt
Loss on early extinguishment of debt							31	28	$ 51
Scheduled maturities of our debt (excluding debt to affiliates)
Total Debt Excluding Debt to Affiliates					5,121		$ 4,795	$ 5,121
Senior Subordinated Notes, March 2021 | Huntsman International
Redemption of Notes and Loss on Early Extinguishment of Debt
Principal Amount of Notes Redeemed		$ 195	$ 289	$ 37	8
Carrying amount of debt to be redeemed	$ 294
Amount Paid (Excluding Accrued Interest)		204	311	40	$ 9
Loss on early extinguishment of debt		$ 7	$ 20	$ 3
Senior Subordinated Notes, March 2020 | Huntsman International
Redemption of Notes and Loss on Early Extinguishment of Debt
Principal Amount of Notes Redeemed						$ 350
Amount Paid (Excluding Accrued Interest)						374
Loss on early extinguishment of debt						$ 28
2021 Senior Notes | Huntsman International
Redemption of Notes and Loss on Early Extinguishment of Debt
Interest rate on long-term debt (as a percent)							5.125%
2021 Senior Notes | Senior Subordinated Notes, March 2021 | Huntsman International
Redemption of Notes and Loss on Early Extinguishment of Debt
Principal Amount of Notes Redeemed	$ 289

DERIVATIVE INSTRUMENTS AND HE86

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) € in Millions, $ in Millions	Mar. 17, 2010EUR (€)item	Nov. 30, 2014EUR (€)item	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2009	Dec. 31, 2015EUR (€)	Dec. 31, 2015USD ($)	Nov. 30, 2014USD ($)	Mar. 17, 2010USD ($)
Derivative Instruments and Hedging Activities
Accumulated other comprehensive loss expected to be reclassified to earnings				$ 0
Notional Amounts									€ 751	$ 821
Amount of gain recognized on the hedge of net investments					$ 68	$ 97	$ (22)
Net euro assets									€ 1,213	1,325
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities
Changes in accumulated other comprehensive gain (loss)					$ 1	2
Forward interest rate contract beginning in January, 2010 | Designated as Hedging Instrument | Huntsman International
Derivative Instruments and Hedging Activities
Notional Amounts						$ 50
Fixed percentage to be paid under the hedge						2.80%
Fair value of the hedge						$ 1
Forward interest rate contract beginning in December, 2014 | Designated as Hedging Instrument | Huntsman International
Derivative Instruments and Hedging Activities
Notional Amounts						$ 50				$ 50
Fixed percentage to be paid under the hedge						2.50%			2.50%	2.50%
Fair value of the hedge						$ 2				$ 1
Forward interest rate contract beginning in January, 2015 | Designated as Hedging Instrument | Huntsman International
Derivative Instruments and Hedging Activities
Notional Amounts						$ 50				$ 50
Fixed percentage to be paid under the hedge						2.50%			2.50%	2.50%
Fair value of the hedge						$ 2				$ 1
Forward foreign currency contracts
Derivative Instruments and Hedging Activities
Notional Amounts						179				176
Maximum maturity period of spot or forward exchange rate contracts					3 months
Approximate term of foreign currency contracts					1 month
Twelve-year interest rate contract entered in year 2009 | Non Designated Hedge Instrument | Arabian Amines Company
Derivative Instruments and Hedging Activities
Notional Amounts										24
Hedging period of interest rate contract								12 years
Fair value of the hedge						3				$ 2
Additional (reduction of) interest expense due to changes in the fair value of the hedges					$ (1)	(1)
Twelve-year interest rate contract entered in year 2009 | Non Designated Hedge Instrument | Arabian Amines Company | LIBOR
Derivative Instruments and Hedging Activities
Fixed percentage to be paid under the hedge									5.02%	5.02%
Variable rate basis					LIBOR
Cross currency interest rate contracts
Derivative Instruments and Hedging Activities
Notional Amounts	€ 255	€ 161									$ 200	$ 350
U.S. dollar interest payments to be received twice each year											$ 5
Equivalent annual rate of interest receivable (as a percent)		5.125%									5.125%
U.S. dollar interest payments to be made twice each year | €		€ 3
Equivalent annual rate of interest payable (as a percent)		3.60%									3.60%
Fair value of the swap						$ 43				$ 28
Cross currency interest rate contracts | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities
Amount received from counterparties			$ 66
Five years cross currency interest rate contract
Derivative Instruments and Hedging Activities
Number of cross currency interest rate contracts | item	3	2
Term of cross currency interest rate contract	5 years	5 years
Eight years cross currency interest rate contract
Derivative Instruments and Hedging Activities
Number of cross currency interest rate contracts | item		1
Term of cross currency interest rate contract		8 years

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair values of financial instruments
Non-qualified employee benefit plan investments	$ 26	$ 24
Carrying Amount
Fair values of financial instruments
Non-qualified employee benefit plan investments	26	22
Investment in equity securities	18
Long-term debt (including current portion)	(4,795)	(5,121)
Carrying Amount | Cross currency interest rate contracts
Fair values of financial instruments
Derivative contracts - assets	28	48
Carrying Amount | Interest rate contracts
Fair values of financial instruments
Derivative contracts - liabilities	(4)	(7)
Estimated Fair Value
Fair values of financial instruments
Non-qualified employee benefit plan investments	26	22
Investment in equity securities	18
Long-term debt (including current portion)	(4,647)	(5,210)
Estimated Fair Value | Cross currency interest rate contracts
Fair values of financial instruments
Derivative contracts - assets	28	48
Estimated Fair Value | Interest rate contracts
Fair values of financial instruments
Derivative contracts - liabilities	$ (4)	$ (7)

FAIR VALUE (Details 2)

FAIR VALUE (Details 2) $ in Millions	Mar. 17, 2010item	Nov. 30, 2014item	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Five years cross currency interest rate contract
Assets:
Number of cross currency interest rate contracts | item	3	2
Term of cross currency interest rate contract	5 years	5 years
Eight years cross currency interest rate contract
Assets:
Number of cross currency interest rate contracts | item		1
Term of cross currency interest rate contract		8 years
Recurring basis
Assets:
Total assets			$ 72	$ 70
Liabilities:
Transfers from Levels 1 to 2 within the fair value hierarchy, assets			0	0
Transfers from Levels 1 and 2 within the fair value hierarchy, liabilities			0	0
Transfers from Levels 2 to 1 within the fair value hierarchy, assets			0	0
Transfers from Levels 2 and 1 within the fair value hierarchy, liabilities			0	0
Recurring basis | Cross currency interest rate contracts
Assets:
Derivatives			28	48
Recurring basis | Interest rate contracts
Liabilities:
Total liabilities			(4)	(7)
Recurring basis | Equity mutual funds
Assets:
Available-for-sale equity securities			26	22
Recurring basis | Equity securities
Assets:
Available-for-sale equity securities			18
Recurring basis | Quoted prices in active markets for identical assets (Level 1)
Assets:
Total assets			44	22
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | Equity mutual funds
Assets:
Available-for-sale equity securities			26	22
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | Equity securities
Assets:
Available-for-sale equity securities			18
Recurring basis | Significant other observable inputs (Level 2)
Assets:
Total assets				43
Recurring basis | Significant other observable inputs (Level 2) | Cross currency interest rate contracts
Assets:
Derivatives				43
Recurring basis | Significant other observable inputs (Level 2) | Interest rate contracts
Liabilities:
Total liabilities			(4)	(7)
Recurring basis | Significant unobservable inputs (Level 3)
Assets:
Total assets			28	5
Recurring basis | Significant unobservable inputs (Level 3) | Cross currency interest rate contracts
Assets:
Derivatives			$ 28	$ 5

FAIR VALUE (Details 3)

FAIR VALUE (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Transfers out of Level 3(1)	$ 0
Impairment of long-lived assets	19	$ 26
Other Comprehensive Income (Loss)
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Change in unrealized gains relating to assets held	23	5
Cross currency interest rate contracts
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance at beginning of period	5
Included in other comprehensive income (loss)	23	5
Balance at end of period	$ 28	$ 5

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Oct. 01, 2014
Amounts recognized in balance sheet:
Noncurrent asset				$ 35	$ 8
Rockwood Holdings, Inc
EMPLOYEE BENEFIT PLANS
Pension and related liabilities assumed in acquisition						$ 233
Defined Benefit Plans
EMPLOYEE BENEFIT PLANS
Non-discretionary employer contributions (as a percent)	6.00%
Employer matching contribution (as a percent)	4.00%
Total Employer contribution (as a percent)	10.00%
Change in plan assets
Fair value of plan assets at beginning of year	$ 3,300
Fair value of plan assets at end of year	3,200	$ 3,300
Funded status
Fair value of plan assets	$ 3,300	3,300		3,200	3,300
Defined Benefit Plans | Minimum
EMPLOYEE BENEFIT PLANS
Annual pay credits, percentage of eligible pay	4.00%
Additional annual pay credits, percentage of eligible pay for participants in the plan on July 1, 2004	1.00%
Defined Benefit Plans | Maximum
EMPLOYEE BENEFIT PLANS
Annual pay credits, percentage of eligible pay	12.00%
Additional annual pay credits, percentage of eligible pay for participants in the plan on July 1, 2004	8.00%
Period of additional annual pay credits	5 years
U.S. Defined Benefit Plans
Change in benefit obligation
Benefit obligation at beginning of year	$ 1,001	877
Service cost	32	27	$ 31
Interest cost	43	45	40
Acquisitions/divestitures		9
Actuarial loss (gain)	(65)	129
Benefits paid	(50)	(86)
Benefit obligation at end of year	961	1,001	877
Change in plan assets
Fair value of plan assets at beginning of year	761	755
Actual return on plan assets	(10)	41
Acquisitions/divestitures		6
Company contributions	21	45
Benefits paid	(50)	(86)
Fair value of plan assets at end of year	722	761	755
Funded status
Fair value of plan assets	761	755	755	722	761
Benefit obligation	1,001	877	877	961	1,001
Accrued benefit cost				(239)	(240)
Amounts recognized in balance sheet:
Current liability				(6)	(6)
Noncurrent liability				(233)	(234)
Total				(239)	(240)
Non-U.S. Defined Benefit Plans
Change in benefit obligation
Benefit obligation at beginning of year	3,317	2,859
Service cost	40	32	38
Interest cost	79	102	90
Participant contributions	6	7
Plan amendments	(31)	(6)
Acquisitions/divestitures		333
Foreign currency exchange rate changes	(210)	(294)
Curtailments	(4)	(1)
Special termination benefits	3	3	9
Actuarial loss (gain)	(65)	458
Benefits paid	(125)	(176)
Benefit obligation at end of year	3,010	3,317	2,859
Change in plan assets
Fair value of plan assets at beginning of year	2,587	2,443
Actual return on plan assets	40	337
Foreign currency exchange rate changes	(153)	(235)
Participant contributions	6	7
Acquisitions/divestitures		106
Company contributions	76	105
Benefits paid	(125)	(176)
Fair value of plan assets at end of year	2,431	2,587	2,443
Funded status
Fair value of plan assets	2,587	2,443	2,443	2,431	2,587
Benefit obligation	3,317	2,859	2,859	3,010	3,317
Accrued benefit cost				(579)	(730)
Amounts recognized in balance sheet:
Noncurrent asset				35	8
Current liability				(5)	(7)
Noncurrent liability				(609)	(731)
Total				(579)	(730)
U.S. Other Postretirement Benefit Plans
Change in benefit obligation
Benefit obligation at beginning of year	137	105
Service cost	4	3	4
Interest cost	5	5	5
Participant contributions	3	3
Plan amendments	(40)
Acquisitions/divestitures		3
Actuarial loss (gain)	(9)	30
Benefits paid	(12)	(12)
Benefit obligation at end of year	88	137	105
Change in plan assets
Participant contributions	3	3
Company contributions	9	9
Benefits paid	(12)	(12)
Funded status
Benefit obligation	137	105	105	88	137
Accrued benefit cost				(88)	(137)
Amounts recognized in balance sheet:
Current liability				(9)	(9)
Noncurrent liability				(79)	(128)
Total				(88)	(137)
Non-U.S. Other Postretirement Benefit Plans
Change in benefit obligation
Benefit obligation at beginning of year	6	5
Foreign currency exchange rate changes	(1)
Actuarial loss (gain)		1
Benefit obligation at end of year	5	6	5
Funded status
Benefit obligation	$ 6	$ 5	$ 5	5	6
Accrued benefit cost				(5)	(6)
Amounts recognized in balance sheet:
Noncurrent liability				(5)	(6)
Total				$ (5)	$ (6)

EMPLOYEE BENEFIT PLANS (Detai91

EMPLOYEE BENEFIT PLANS (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Defined Benefit Plans
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	$ 359	$ 390
Prior service cost	(22)	(29)
Total	337	361
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year
Actuarial loss	24
Prior service cost	(5)
Total	19
Components of net periodic benefit cost
Service cost	32	27	$ 31
Interest cost	43	45	40
Expected return on assets	(57)	(56)	(50)
Amortization of prior service benefit	(6)	(6)	(7)
Amortization of actuarial loss	32	19	35
Net periodic benefit cost	44	29	49
U.S. Defined Benefit Plans | Huntsman International
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	361	391
Prior service cost	(22)	(28)
Total	339	363
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year
Actuarial loss	24
Prior service cost	(5)
Total	19
Components of net periodic benefit cost
Service cost	32	27	31
Interest cost	43	45	40
Expected return on assets	(57)	(56)	(50)
Amortization of prior service benefit	(6)	(6)	(7)
Amortization of actuarial loss	32	19	35
Net periodic benefit cost	44	29	49
Non-U.S. Defined Benefit Plans
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	906	916
Prior service cost	(34)	(2)
Total	872	914
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year
Actuarial loss	43
Prior service cost	(4)
Total	39
Components of net periodic benefit cost
Service cost	40	32	38
Interest cost	79	102	90
Expected return on assets	(143)	(138)	(124)
Amortization of prior service benefit			1
Amortization of actuarial loss	43	34	43
Settlement loss		13	12
Special termination benefits	3	3	9
Net periodic benefit cost	22	46	69
Non-U.S. Defined Benefit Plans | Huntsman International
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	952	968
Prior service cost	(35)	(2)
Total	917	966
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year
Actuarial loss	51
Prior service cost	(4)
Total	47
Components of net periodic benefit cost
Service cost	40	32	38
Interest cost	79	102	90
Expected return on assets	(143)	(138)	(124)
Amortization of prior service benefit			1
Amortization of actuarial loss	51	41	49
Settlement loss		13	12
Special termination benefits	3	3	9
Net periodic benefit cost	30	53	75
U.S. Other Postretirement Benefit Plans
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	38	50
Prior service cost	(58)	(23)
Total	(20)	27
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year
Actuarial loss	2
Prior service cost	(7)
Total	(5)
Components of net periodic benefit cost
Service cost	4	3	4
Interest cost	5	5	5
Amortization of prior service benefit	(5)	(4)	(2)
Amortization of actuarial loss	3	1	2
Net periodic benefit cost	7	5	9
U.S. Other Postretirement Benefit Plans | Huntsman International
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	38	50
Prior service cost	(58)	(23)
Total	(20)	27
Amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year
Actuarial loss	2
Prior service cost	(7)
Total	(5)
Components of net periodic benefit cost
Service cost	4	3	4
Interest cost	5	5	5
Amortization of prior service benefit	(5)	(4)	(2)
Amortization of actuarial loss	3	1	2
Net periodic benefit cost	7	5	$ 9
Non-U.S. Other Postretirement Benefit Plans
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	1	1
Total	1	1
Non-U.S. Other Postretirement Benefit Plans | Huntsman International
Amounts recognized in accumulated other comprehensive loss (income):
Net actuarial loss	1	1
Total	$ 1	$ 1

EMPLOYEE BENEFIT PLANS (Detai92

EMPLOYEE BENEFIT PLANS (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Defined Benefit Plans
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)	$ 2	$ 144	$ (149)
Amortization of actuarial loss	(32)	(19)	(35)
Amortization of prior service cost (credits)	6	6	7
Total recognized in other comprehensive loss (income)	(24)	131	(177)
Net periodic benefit cost	44	29	49
Total recognized in net periodic benefit cost and other comprehensive (loss) income	$ 20	$ 160	$ (128)
Projected benefit obligation:
Discount rate (as a percent)	4.90%	4.25%	5.13%
Rate of compensation increase (as a percent)	4.17%	4.16%	4.17%
Net periodic pension cost:
Discount rate (as a percent)	4.25%	5.13%	4.18%
Rate of compensation increase (as a percent)	4.16%	4.17%	4.19%
Expected return on plan assets (as a percent)	7.74%	7.75%	7.75%
U.S. Defined Benefit Plans | Huntsman International
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)	$ 2	$ 144	$ (149)
Amortization of actuarial loss	(32)	(19)	(35)
Amortization of prior service cost (credits)	6	6	7
Total recognized in other comprehensive loss (income)	(24)	131	(177)
Net periodic benefit cost	44	29	49
Total recognized in net periodic benefit cost and other comprehensive (loss) income	20	160	(128)
Non-U.S. Defined Benefit Plans
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)	33	257	(40)
Amortization of actuarial loss	(43)	(34)	(43)
Current year prior service (credits) cost	(32)	(6)	1
Amortization of prior service cost (credits)			(1)
Settlements		(13)	(12)
Total recognized in other comprehensive loss (income)	(42)	204	(95)
Net periodic benefit cost	22	46	69
Total recognized in net periodic benefit cost and other comprehensive (loss) income	$ (20)	$ 250	$ (26)
Projected benefit obligation:
Discount rate (as a percent)	2.53%	2.48%	3.62%
Rate of compensation increase (as a percent)	3.23%	3.23%	3.37%
Net periodic pension cost:
Discount rate (as a percent)	2.48%	3.62%	3.38%
Rate of compensation increase (as a percent)	3.23%	3.37%	3.34%
Expected return on plan assets (as a percent)	5.79%	5.82%	5.75%
Non-U.S. Defined Benefit Plans | Huntsman International
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)	$ 33	$ 257	$ (39)
Amortization of actuarial loss	(51)	(41)	(49)
Current year prior service (credits) cost	(32)	(6)	1
Amortization of prior service cost (credits)			(1)
Settlements		(13)	(12)
Total recognized in other comprehensive loss (income)	(50)	197	(100)
Net periodic benefit cost	30	53	75
Total recognized in net periodic benefit cost and other comprehensive (loss) income	(20)	250	(25)
U.S. Other Postretirement Benefit Plans
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)	(9)	30	(8)
Amortization of actuarial loss	(3)	(1)	(2)
Current year prior service (credits) cost	(40)		(22)
Amortization of prior service cost (credits)	5	4	2
Total recognized in other comprehensive loss (income)	(47)	33	(30)
Net periodic benefit cost	7	5	9
Total recognized in net periodic benefit cost and other comprehensive (loss) income	$ (40)	$ 38	$ (21)
Projected benefit obligation:
Discount rate (as a percent)	4.68%	4.17%	4.79%
Net periodic pension cost:
Discount rate (as a percent)	4.20%	4.79%	3.89%
U.S. Other Postretirement Benefit Plans | Huntsman International
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)	$ (9)	$ 30	$ (8)
Amortization of actuarial loss	(3)	(1)	(2)
Current year prior service (credits) cost	(40)		(22)
Amortization of prior service cost (credits)	5	4	2
Total recognized in other comprehensive loss (income)	(47)	33	(30)
Net periodic benefit cost	7	5	9
Total recognized in net periodic benefit cost and other comprehensive (loss) income	$ (40)	38	(21)
Non-U.S. Other Postretirement Benefit Plans
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)		1	(1)
Total recognized in other comprehensive loss (income)		1	(1)
Total recognized in net periodic benefit cost and other comprehensive (loss) income		$ 1	$ (1)
Projected benefit obligation:
Discount rate (as a percent)	7.25%	6.44%	6.49%
Net periodic pension cost:
Discount rate (as a percent)	6.44%	6.49%	5.79%
Non-U.S. Other Postretirement Benefit Plans | Huntsman International
Amounts recognized in net periodic benefit cost and other comprehensive income (loss)
Current year actuarial loss (gain)		$ 1	$ (1)
Total recognized in other comprehensive loss (income)		1	(1)
Total recognized in net periodic benefit cost and other comprehensive (loss) income		$ 1	$ (1)

EMPLOYEE BENEFIT PLANS (Detai93

EMPLOYEE BENEFIT PLANS (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Expected benefit payments:
Net transfer out of Level 3 assets due to a change in the significance of unobservable inputs for several investments	$ 0
U.S. Defined Benefit Plans
Projected benefit obligation in excess of plan assets
Projected benefit obligation	961	$ 1,002
Fair value of plan assets	722	761
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	961	1,002
Accumulated benefit obligation	941	980
Fair value of plan assets	722	761
2016 expected employer contributions:
To plan trusts	6
Expected benefit payments:
2,016	67
2,017	71
2,018	62
2,019	65
2,020	65
2021-2025	354
Non-U.S. Defined Benefit Plans
Projected benefit obligation in excess of plan assets
Projected benefit obligation	2,129	2,945
Fair value of plan assets	1,514	2,206
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	1,403	2,253
Accumulated benefit obligation	1,312	2,108
Fair value of plan assets	823	$ 1,554
2016 expected employer contributions:
To plan trusts	60
Expected benefit payments:
2,016	111
2,017	112
2,018	116
2,019	118
2,020	121
2021-2025	$ 650
Other Postretirement Benefit Plans
Health care trend rate
Health care trend rate (as a percent)	7.00%	6.50%
Ultimate health care trend rate (as a percent)	5.00%	5.00%
Effects of one-percent-point change in assumed health care cost trend rates
Effect on postretirement benefit obligation, Increase	$ 2
Effect on postretirement benefit obligation, Decrease	(2)
U.S. Other Postretirement Benefit Plans
2016 expected employer contributions:
To plan trusts	9
Expected benefit payments:
2,016	9
2,017	7
2,018	7
2,019	7
2,020	7
2021-2025	37
Non-U.S. Other Postretirement Benefit Plans
Expected benefit payments:
2021-2025	$ 2

EMPLOYEE BENEFIT PLANS (Detai94

EMPLOYEE BENEFIT PLANS (Details 5) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate/Other | Significant unobservable inputs (Level 3)
Fair Value Measurements of Plan Assets
Balance at beginning of period	$ 96	$ 76
Return on pension plan assets	4	5
Purchases, sales and settlements	12	6
Acquisition date fair value of pension plan assets acquired		9
Balance at end of period	112	96	$ 76
Defined Benefit Plans
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 3,200	3,300
Defined Benefit Plans | Minimum
Fair Value Measurements of Plan Assets
Expected long term rate of return on the pension assets (as a percent)	5.75%
Defined Benefit Plans | Maximum
Fair Value Measurements of Plan Assets
Expected long term rate of return on the pension assets (as a percent)	7.75%
U.S. Defined Benefit Plans
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 722	$ 761	$ 755
Fair Value Measurements of Plan Assets
Expected long term rate of return on the pension assets (as a percent)	7.74%	7.75%	7.75%
Target allocation (as a percent)	100.00%
Actual allocation (as a percent)	100.00%	100.00%
U.S. Defined Benefit Plans | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 722	$ 761
U.S. Defined Benefit Plans | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	490	391
U.S. Defined Benefit Plans | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	174	319
U.S. Defined Benefit Plans | Recurring basis | Significant unobservable inputs (Level 3)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 58	$ 51
U.S. Defined Benefit Plans | Equity securities
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	53.00%
Actual allocation (as a percent)	54.00%	60.00%
U.S. Defined Benefit Plans | Equity securities | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 387	$ 454
U.S. Defined Benefit Plans | Equity securities | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	279	268
U.S. Defined Benefit Plans | Equity securities | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 108	$ 186
U.S. Defined Benefit Plans | Fixed income
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	40.00%
Actual allocation (as a percent)	38.00%	28.00%
U.S. Defined Benefit Plans | Fixed income | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 277	$ 216
U.S. Defined Benefit Plans | Fixed income | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	211	83
U.S. Defined Benefit Plans | Fixed income | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 66	$ 133
U.S. Defined Benefit Plans | Real Estate/Other
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	7.00%
Actual allocation (as a percent)	8.00%	11.00%
U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 58	$ 85
U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets		34
U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis | Significant unobservable inputs (Level 3)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	58	$ 51
U.S. Defined Benefit Plans | Cash
Fair Value Measurements of Plan Assets
Actual allocation (as a percent)		1.00%
U.S. Defined Benefit Plans | Cash | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets		$ 6
U.S. Defined Benefit Plans | Cash | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets		6
Non-U.S. Defined Benefit Plans
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 2,431	$ 2,587	$ 2,443
Fair Value Measurements of Plan Assets
Expected long term rate of return on the pension assets (as a percent)	5.79%	5.82%	5.75%
Target allocation (as a percent)	100.00%
Actual allocation (as a percent)	100.00%	100.00%
Non-U.S. Defined Benefit Plans | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 2,431	$ 2,587
Non-U.S. Defined Benefit Plans | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	1,054	1,395
Non-U.S. Defined Benefit Plans | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	1,323	1,147
Non-U.S. Defined Benefit Plans | Recurring basis | Significant unobservable inputs (Level 3)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 54	$ 45
Non-U.S. Defined Benefit Plans | Equity securities
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	36.00%
Actual allocation (as a percent)	34.00%	36.00%
Non-U.S. Defined Benefit Plans | Equity securities | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 830	$ 933
Non-U.S. Defined Benefit Plans | Equity securities | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	446	487
Non-U.S. Defined Benefit Plans | Equity securities | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 384	$ 446
Non-U.S. Defined Benefit Plans | Fixed income
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	44.00%
Actual allocation (as a percent)	46.00%	47.00%
Non-U.S. Defined Benefit Plans | Fixed income | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 1,113	$ 1,207
Non-U.S. Defined Benefit Plans | Fixed income | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	514	821
Non-U.S. Defined Benefit Plans | Fixed income | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 599	$ 386
Non-U.S. Defined Benefit Plans | Real Estate/Other
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	11.00%
Actual allocation (as a percent)	20.00%	15.00%
Non-U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 477	$ 383
Non-U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	84	28
Non-U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	339	310
Non-U.S. Defined Benefit Plans | Real Estate/Other | Recurring basis | Significant unobservable inputs (Level 3)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 54	$ 45
Non-U.S. Defined Benefit Plans | Cash
Fair Value Measurements of Plan Assets
Target allocation (as a percent)	9.00%
Actual allocation (as a percent)		2.00%
Non-U.S. Defined Benefit Plans | Cash | Recurring basis
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 11	$ 64
Non-U.S. Defined Benefit Plans | Cash | Recurring basis | Quoted prices in active markets for identical assets (Level 1)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	10	59
Non-U.S. Defined Benefit Plans | Cash | Recurring basis | Significant other observable inputs (Level 2)
EMPLOYEE BENEFIT PLANS
Fair value of plan assets	$ 1	$ 5

EMPLOYEE BENEFIT PLANS (Detai95

EMPLOYEE BENEFIT PLANS (Details 6) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SUPPLEMENTAL SALARY DEFERRAL PLAN AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
Maximum percentage of salary which participant can defer under Huntsman supplemental deferral plan	75.00%
Carrying amount of assets included in other noncurrent assets	$ 26	$ 24
Deferred compensation expense	$ 1	1	$ 1
STOCK-BASED INCENTIVE PLAN
Authorized number of shares to be granted under the Stock Incentive Plan	37.2
U.S. Other Postretirement Benefit Plans
DEFINED CONTRIBUTION PLANS
Total defined contribution expense	$ 23	15	14
Non-U.S. Other Postretirement Benefit Plans
DEFINED CONTRIBUTION PLANS
Total defined contribution expense	$ 13	$ 14	$ 14
Money purchase pension plan
DEFINED CONTRIBUTION PLANS
Employer contribution limit (as a percent of compensation)	8.00%
Salary deferral plan
DEFINED CONTRIBUTION PLANS
Employer contribution limit (as a percent of compensation)	2.00%
Employer matching contribution as a percentage of employee's contribution	50.00%
Salary deferral plan | Non-U.S. Other Postretirement Benefit Plans
DEFINED CONTRIBUTION PLANS
Employer contribution limit (as a percent of compensation)	15.00%
Salary deferral plan for new hires
DEFINED CONTRIBUTION PLANS
Employer contribution limit (as a percent of compensation)	4.00%
Employer matching contribution as a percentage of employee's contribution	100.00%
Period of service, to be achieved by the employees, to receive additional matching percentage	6 years
Salary deferral plan for new hires | Non-U.S. Other Postretirement Benefit Plans
DEFINED CONTRIBUTION PLANS
Employer contribution limit (as a percent of compensation)	12.00%
Huntsman UK Pension Plan | Non-U.S. Other Postretirement Benefit Plans
DEFINED CONTRIBUTION PLANS
Transition period for contributions	5 years

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S.
Current		$ 48	$ 55	$ 75
Deferred		21	(4)	79
Non-U.S.
Current		24	48	42
Deferred		(47)	(48)	(71)
Total income tax expense		46	51	125
Reconciliation between the U.S. federal income taxes at the U.S. statutory rate to the provision (benefit) for income taxes
Income (loss) from continuing operations before income taxes		176	404	279
Expected tax expense at U.S. statutory rate of 35%		62	142	98
State tax expense net of federal benefit		(3)	10	11
Non-U.S. tax rate differentials		4	(7)	10
Effects of non-U.S. operations		(6)	3	1
U.S. domestic manufacturing deduction		(7)	(14)	(14)
Currency exchange gains and losses	$ (58)	(58)	(7)	14
Effect of tax holidays		(6)
U.S. foreign tax credits, net of associated income and taxes		(22)	(2)	(86)
Tax benefit of losses with valuation allowances as a result of other comprehensive income		(3)	(7)	(22)
Tax authority audits and dispute resolutions		10	3	9
Change in valuation allowance		75	(76)	100
Other, net			6	4
Total income tax expense		$ 46	$ 51	$ 125
U.S. income tax statutory rate (as a percent)		35.00%	35.00%	35.00%
Component of income (loss) from continuing operations before income taxes
U.S.		$ 243	$ 435	$ 419
Non-U.S.		(67)	(31)	(140)
(Loss) income from continuing operations before income taxes		176	404	279
Deferred income tax assets:
Net operating loss carryforwards	871	871	875
Pension and other employee compensation	280	280	313
Property, plant and equipment	97	97	109
Intangible assets	131	131	46
Foreign tax credits	14	14	17
Other, net	100	100	100
Total	1,493	1,493	1,460
Deferred income tax liabilities:
Property, plant and equipment	(577)	(577)	(540)
Pension and other employee compensation	(8)	(8)	(2)
Other, net	(128)	(128)	(103)
Total	(713)	(713)	(645)
Net deferred tax asset before valuation allowance	780	780	815
Valuation allowance-net operating losses and other	(784)	(784)	(702)
Net deferred tax liability	(4)	(4)
Net deferred tax asset			113
Current deferred tax asset			62
Current deferred tax liability			(51)
Non-current deferred tax asset	418	418	435
Non-current deferred tax liability	(422)	(422)	(333)
Huntsman International
U.S.
Current		46	43	41
Deferred		21	(1)	124
Non-U.S.
Current		24	48	42
Deferred		(46)	(47)	(70)
Total income tax expense		45	43	137
Reconciliation between the U.S. federal income taxes at the U.S. statutory rate to the provision (benefit) for income taxes
Income (loss) from continuing operations before income taxes		176	409	289
Expected tax expense at U.S. statutory rate of 35%		62	143	101
State tax expense net of federal benefit		(3)	10	11
Non-U.S. tax rate differentials		4	(7)	10
Effects of non-U.S. operations		(5)	4	3
U.S. domestic manufacturing deduction		(7)	(13)	(14)
Currency exchange gains and losses		(58)	(7)	14
Effect of tax holidays		(6)
U.S. foreign tax credits, net of associated income and taxes		(22)	(2)	(86)
Tax benefit of losses with valuation allowances as a result of other comprehensive income		(3)	(7)	(22)
Tax authority audits and dispute resolutions		10	3	9
Change in valuation allowance		74	(88)	108
Other, net		(1)	7	3
Total income tax expense		$ 45	$ 43	$ 137
U.S. income tax statutory rate (as a percent)		35.00%	35.00%	35.00%
Component of income (loss) from continuing operations before income taxes
U.S.		$ 243	$ 436	$ 429
Non-U.S.		(67)	(27)	(140)
(Loss) income from continuing operations before income taxes		176	409	$ 289
Deferred income tax assets:
Net operating loss carryforwards	871	871	874
Pension and other employee compensation	278	278	311
Property, plant and equipment	103	103	118
Intangible assets	131	131	46
Foreign tax credits	14	14	17
Other, net	100	100	100
Total	1,497	1,497	1,466
Deferred income tax liabilities:
Property, plant and equipment	(573)	(573)	(535)
Pension and other employee compensation	(8)	(8)	(2)
Other, net	(128)	(128)	(103)
Total	(709)	(709)	(640)
Net deferred tax asset before valuation allowance	788	788	826
Valuation allowance-net operating losses and other	(788)	(788)	(707)
Net deferred tax asset			119
Current deferred tax asset			62
Current deferred tax liability			(52)
Non-current deferred tax asset	418	418	435
Non-current deferred tax liability	$ (418)	$ (418)	$ (326)

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Operating loss carryforwards
Decrease in foreign tax credit				$ 10
Deferred foreign tax credit after adjustment				104
Income tax benefit from release of valuation allowance				104
Discrete tax benefit		$ 94
Foreign tax credits	$ 14		$ 14	17
Deferred foreign income tax benefit			$ 47	48	$ 71
Number of non-U.S. tax jurisdictions in which the entity is operating | item			40
Tax benefit from foreign exchange transactions	33		$ 33
Tax benefit from currency exchange gains before valuation allowances and contingencies	58		58	7	(14)
Contingent liabilities and valuation allowances	25		25
Taxable gain (loss) on currency conversion of intercompany debt			0
Decrease in net deferred tax liabilities			5
Income tax benefit (expense)			(46)	(51)	(125)
Non-U.S. tax rate differentials			4	(7)	10
Operating loss carryforwards, subject to expiration	0		0
Valuation allowance on net deferred tax assets	784		784	702	814	$ 736
Releases of valuation allowances in various jurisdictions			3	111	16
Establishments of valuation allowances in various jurisdictions			35	3
Establishment (release) of valuation allowances on U.S. foreign tax credits			14	(94)	95
Non-US
Operating loss carryforwards
Deferred foreign income tax benefit			3	7	$ 22
Net operating loss carryforwards	3,347		3,347
Operating loss carryforwards, subject to expiration	852		852
Portion of operating loss carryforwards that are subject to expiration, subject to valuation allowance	489		489
Non-US | Scheduled to expire next year
Operating loss carryforwards
Portion of operating loss carryforwards that are subject to expiration, subject to valuation allowance	29		29
Luxembourg
Operating loss carryforwards
Net operating loss carryforwards	919		919
Operating loss carryforwards, valuation allowance	216		216
Valuation allowance on net deferred tax assets	$ 265		265
Releases of valuation allowances in various jurisdictions				$ 6
Netherlands
Operating loss carryforwards
Establishments of valuation allowances in various jurisdictions			7
Italy
Operating loss carryforwards
Establishments of valuation allowances in various jurisdictions			12
State
Operating loss carryforwards
Income tax benefit (expense)			$ 3

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of changes in the valuation allowance
Valuation allowance at the beginning of the period	$ 702	$ 814	$ 736
Valuation allowance at the end of the period	784	702	814
Net (increase) decrease	(82)	112	(78)
Foreign currency movements	(22)	(49)	16
(Decrease) increase to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances	29	13	(38)
Change in valuation allowance per rate reconciliation	(75)	76	(100)
Components of change in valuation allowance affecting tax expense
Pre-tax income and pre-tax losses in jurisdictions with valuation allowances resulting in no tax expense or benefit	(43)	(32)	(21)
Releases of valuation allowances in various jurisdictions	3	111	16
Establishments of valuation allowances in various jurisdictions	(35)	(3)	(95)
Change in valuation allowance per rate reconciliation	(75)	76	(100)
Expense (benefit) as a result of pre-tax losses in jurisdictions with valuation allowances	0	0	0
Huntsman International
Summary of changes in the valuation allowance
Valuation allowance at the beginning of the period	707	832	745
Valuation allowance at the end of the period	788	707	832
Net (increase) decrease	(81)	125	(87)
Foreign currency movements	(22)	(49)	16
(Decrease) increase to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances	29	12	(37)
Change in valuation allowance per rate reconciliation	(74)	88	(108)
Components of change in valuation allowance affecting tax expense
Pre-tax income and pre-tax losses in jurisdictions with valuation allowances resulting in no tax expense or benefit	(41)	(31)	(18)
Releases of valuation allowances in various jurisdictions	3	122	16
Establishments of valuation allowances in various jurisdictions	(36)	(3)	(106)
Change in valuation allowance per rate reconciliation	(74)	88	(108)
Expense (benefit) as a result of pre-tax losses in jurisdictions with valuation allowances	$ 0	$ 0	$ 0

INCOME TAXES (Details 4)

INCOME TAXES (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of unrecognized tax benefits
Net (decrease) increase in unrecognized tax benefits with a corresponding income tax expense	$ 19	$ 1	$ 8
Unrecognized tax benefits, balance at the beginning of the period	68	96
Gross increases and decreases-tax positions taken during the prior period	3	(18)
Gross increases and decreases-tax positions taken during the current period	5	1
Decreases related to settlement of amounts due to tax authorities	(2)	(5)
Reductions resulting from the lapse of statutes of limitation	(8)	(2)
Foreign currency movements	(4)	(4)
Unrecognized tax benefits, balance at the end of the period	62	68	96
Unrecognized tax benefits which, if recognized, would affect the effective tax rate	50	36
Interest and penalties related to unrecognized tax benefits included in tax expense
Interest expense included in tax expense	$ (9)	2	2
Penalties expense included in tax expense			(1)
Interest and penalties accrued related to unrecognized tax benefits
Accrued liability for interest		$ 4	$ 14
Number of months from the reporting date during which unrecognized tax benefit would result in change in income tax	12 months
Undistributed earnings of foreign subsidiaries that are deemed to be permanently invested	$ 354
Minimum
Interest and penalties accrued related to unrecognized tax benefits
Decrease in the unrecognized tax benefits reasonably possible, low end of range	4
Maximum
Interest and penalties accrued related to unrecognized tax benefits
Decrease in the unrecognized tax benefits reasonably possible, low end of range	$ 24

COMMITMENTS AND CONTINGENCIE100

COMMITMENTS AND CONTINGENCIES (Details) € in Millions, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015EUR (€)state	Dec. 31, 2015USD ($)state	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)	Jul. 03, 2012shares
COMMITMENTS AND CONTINGENCIES
Minimum contracts period which require minimum volume purchases	1 year	1 year
Minimum payments under purchase commitments		$ 0	$ 0	$ 7
Purchase commitments:
2,016					$ 1,455
2,017					876
2,018					607
2,019					338
2,020					119
Thereafter					871
Total					4,266
Operating Leases
Rent expense		94	97	80
Sublease rentals		3	$ 3	$ 4
Future minimum payments
2,016					87
2,017					75
2,018					70
2,019					62
2,020					57
Thereafter					202
Total					553
Minimum sublease rentals					2
Antitrust matters - Indirect action cases
LEGAL MATTERS
Accrued liability relating to the cases					0
Product Delivery Claim
LEGAL MATTERS
Accrued liability relating to the cases					0
Maximum amount of claims of customer	€ 153	167
Minimum threshold amount for insured liability		10
Aggregate amount of current claims	113	$ 123
Minimum range of possible loss | €	0
Maximum range of possible loss	€ 113				$ 123
State Antitrust Claims
LEGAL MATTERS
Number of states in which Plaintiffs have raised claims | state	15	15
Consumer Protection Claims
LEGAL MATTERS
Number of states in which Plaintiffs have raised claims | state	9	9
Unjust Enrichment Claims
LEGAL MATTERS
Number of states in which Plaintiffs have raised claims | state	16	16
Indemnification Matters
LEGAL MATTERS
Number of shares of common stock affected by the loss due to Banks' misrepresentations (in shares) | shares						19

ENVIRONMENTAL, HEALTH AND SA101

ENVIRONMENTAL, HEALTH AND SAFETY MATTERS (Details)	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Environmental, Health, and Safety Matters
Capital expenditures for EHS matters	$ 141,000,000	$ 125,000,000	$ 92,000,000
Accrued environmental liabilities	38,000,000	60,000,000
Accrued environmental liabilities, classified as accrued liabilities	6,000,000	7,000,000
Accrued environmental liabilities, classified as other noncurrent liabilities	$ 32,000,000	$ 53,000,000
Maximum period for payment of remediation liabilities	30 years
Number of former facilities or third party sites with claims against the entity for cleanup liabilities | item	10
West Footscray
Environmental, Health, and Safety Matters
Accrued environmental liabilities	$ 17,000,000
Minimum
Environmental, Health, and Safety Matters
Amount of civil penalties soughts after by EPA	$ 100,000

HUNTSMAN CORPORATION STOCKHO102

HUNTSMAN CORPORATION STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2016	Oct. 27, 2015	Sep. 29, 2015
DIVIDENDS ON COMMON STOCK
Cash dividends paid (in dollars per share)	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.50	$ 0.50	$ 0.50
Cash dividends paid	$ 30	$ 31	$ 31	$ 31	$ 30	$ 31	$ 30	$ 30	$ 121	$ 121	$ 120
Citibank, N.A
SHARE REPURCHASE PROGRAM
Value authorized to be repurchased													$ 100
Shares authorized for repurchase												1.5	7.1
Stock repurchase price (in dollars per share)													$ 11.94
Maximum
SHARE REPURCHASE PROGRAM
Value authorized to be repurchased														$ 150

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
STOCK-BASED COMPENSATION PLANS
Authorized number of shares to be granted under the Stock Incentive Plan	37,200
Remaining shares available for grant	7,000
Vesting period	3 years
Compensation cost from continuing operations	$ 30	$ 28	$ 29
Total income tax benefit recognized in the statements of operations for stock-based compensation arrangements	$ 6	$ 6	$ 7
Stock options
STOCK-BASED COMPENSATION PLANS
Vesting period	2 years
Weighted average of the assumptions utilized for stock options granted
Dividend yield (as a percent)	2.30%	2.40%	2.80%
Expected volatility (as a percent)	57.60%	60.30%	62.50%
Risk-free interest rate (as a percent)	1.40%	1.70%	1.00%
Expected life of stock options granted during the period	5 years 10 months 24 days	5 years 8 months 12 days	5 years 7 months 6 days
Option Awards, Shares
Outstanding at the beginning of the period (in shares)	8,781
Granted (in shares)	1,011
Exercised (in shares)	(49)
Forfeited (in shares)	(199)
Outstanding at the end of the period (in shares)	9,544	8,781
Exercisable at the end of the period (in shares)	7,449
Option Awards, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 14.84
Granted (in dollars per share)	22.21
Exercised (in dollars per share)	16.43
Forfeited (in dollars per share)	19.70
Outstanding at the end of the period (in dollars per share)	15.51	$ 14.84
Exercisable at the end of the period (in dollars per share)	$ 13.95
Outstanding, Weighted Average Remaining Contractual Term	4 years 9 months 18 days
Exercisable, Weighted Average Remaining Contractual Term	3 years 8 months 12 days
Outstanding, Aggregate Intrinsic Value	$ 17
Exercisable, Aggregate Intrinsic Value	$ 17
Weighted-average grant-date fair value of stock options granted (in dollars per share)	$ 9.81	$ 9.63	$ 7.93
Total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Stock Incentive Plan	$ 11
Weighted-average period over which cost is expected to be recognized		1 year 9 months 18 days
Total intrinsic value of stock options exercised	$ 0	$ 14	$ 14
Maximum | Stock options
STOCK-BASED COMPENSATION PLANS
Contractual term	10 years
Huntsman International
STOCK-BASED COMPENSATION PLANS
Compensation cost from continuing operations	$ 29	$ 27	$ 28

STOCK-BASED COMPENSATION PLA104

STOCK-BASED COMPENSATION PLANS (Details 2) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Nonvested shares
Vesting period	3 years
Performance Awards
Nonvested shares
Weighted-average volatility rate	30.00%
Risk-free interest rate (as a percent)	0.70%
Nonvested shares
Weighted Average Grant-Date Fair Value
Total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Stock Incentive Plan	$ 20
Weighted-average period over which cost is expected to be recognized	1 year 9 months 18 days
Value of share awards vested	$ 20	$ 19	$ 18
Equity Awards
Nonvested shares
Nonvested at the beginning of the period (in shares)	1,821,000
Granted (in shares)	855,000
Vested (in shares)	(779,000)
Forfeited (in shares)	(43,000)
Nonvested at the end of the period (in shares)	1,854,000	1,821,000
Weighted Average Grant-Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 17.37
Granted (in dollars per share)	23.25
Vested (in dollars per share)	17.30
Forfeited (in dollars per share)	21.37
Nonvested at the end of the period (in dollars per share)	$ 19.97	$ 17.37
Liability Awards
Nonvested shares
Nonvested at the beginning of the period (in shares)	492,000
Granted (in shares)	261,000
Vested (in shares)	(259,000)
Forfeited (in shares)	(19,000)
Nonvested at the end of the period (in shares)	475,000	492,000
Weighted Average Grant-Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 18.50
Granted (in dollars per share)	22.60
Vested (in dollars per share)	17.09
Forfeited (in dollars per share)	21.22
Nonvested at the end of the period (in dollars per share)	$ 21.37	$ 18.50
Restricted stock units
Nonvested shares
Vested (in shares)	(29,645)
Weighted Average Grant-Date Fair Value
The number of restricted stock units vested at the balance sheet date (in shares)	393,952
Vested restricted stock units for which common stock shares were issued during the period	29,921
Minimum | Performance Awards
Nonvested shares
Performance period	2 years
Maximum | Performance Awards
Nonvested shares
Performance period	3 years

OTHER COMPREHENSIVE (LOSS) I105

OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of other comprehensive income (loss)
Balance at the beginning of the period	$ 1,951	$ 2,129	$ 1,896
Other comprehensive (loss) income, net of tax	(240)	(491)	172
Balance at the end of the period	1,629	1,951	2,129
Total
Components of other comprehensive income (loss)
Balance at the beginning of the period	(1,076)	(585)
Other comprehensive (loss) income before reclassifications, gross	(220)	(496)
Tax (expense) benefit	(75)	53
Amounts reclassified from accumulated other comprehensive loss, gross	69	(59)
Tax (expense) benefit	(14)	11
Other comprehensive (loss) income, net of tax	(240)	(491)
Balance at the end of the period	(1,316)	(1,076)	(585)
Foreign currency translation adjustment
Components of other comprehensive income (loss)
Balance at the beginning of the period	25	246
Other comprehensive (loss) income before reclassifications, gross	(271)	(187)
Tax (expense) benefit	(42)	(34)
Other comprehensive (loss) income, net of tax	(313)	(221)
Balance at the end of the period	(288)	25	246
Foreign currency translations adjustments, tax	90	47	13
Pension and other postretirement benefits adjustments
Components of other comprehensive income (loss)
Balance at the beginning of the period	(1,122)	(851)
Other comprehensive (loss) income before reclassifications, gross	44	(311)
Tax (expense) benefit	(33)	88
Amounts reclassified from accumulated other comprehensive loss, gross	69	(59)
Tax (expense) benefit	(14)	11
Other comprehensive (loss) income, net of tax	66	(271)
Balance at the end of the period	(1,056)	(1,122)	(851)
Pension and other postretirement benefits adjustments, tax	135	182	83
Other comprehensive income of unconsolidated affiliates
Components of other comprehensive income (loss)
Balance at the beginning of the period	10	12
Other comprehensive (loss) income before reclassifications, gross	1	(2)
Other comprehensive (loss) income, net of tax	1	(2)
Balance at the end of the period	11	10	12
Other, net
Components of other comprehensive income (loss)
Balance at the beginning of the period	11	8
Other comprehensive (loss) income before reclassifications, gross	6	4
Tax (expense) benefit		(1)
Other comprehensive (loss) income, net of tax	6	3
Balance at the end of the period	17	11	8
Amounts attributable to noncontrolling interests
Components of other comprehensive income (loss)
Balance at the beginning of the period	23	8
Other comprehensive (loss) income before reclassifications, gross	5	15
Other comprehensive (loss) income, net of tax	5	15
Balance at the end of the period	28	23	8
Accumulated other comprehensive (loss) income
Components of other comprehensive income (loss)
Balance at the beginning of the period	(1,053)	(577)	(744)
Other comprehensive (loss) income before reclassifications, gross	(215)	(481)
Tax (expense) benefit	(75)	53
Amounts reclassified from accumulated other comprehensive loss, gross	69	(59)
Tax (expense) benefit	(14)	11
Other comprehensive (loss) income, net of tax	(235)	(476)	167
Balance at the end of the period	$ (1,288)	$ (1,053)	$ (577)

OTHER COMPREHENSIVE (LOSS) I106

OTHER COMPREHENSIVE (LOSS) INCOME (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension and other postretirement benefits adjustments
Reclassification from accumulated other comprehensive loss
Income tax expense	$ (14)	$ 11
Pension and other postretirement benefits adjustments | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	(69)	(59)	$ (84)
Income tax expense	14	11	23
Net of tax	(55)	(48)	(61)
Prior Service Credit | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	10	9	8
Actuarial loss | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	(79)	(55)	(80)
Actuarial loss | Amount reclassified | Discontinued Operations
Reclassification from accumulated other comprehensive loss
Total before tax	$ 6	4	6
Settlement loss | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax		$ (13)	$ (12)

OTHER COMPREHENSIVE (LOSS) I107

OTHER COMPREHENSIVE (LOSS) INCOME (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of other comprehensive income (loss)
Other comprehensive (loss) income, net of tax	$ (240)	$ (491)	$ 172
Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	1,296	1,475	1,217
Other comprehensive (loss) income, net of tax	(234)	(484)	178
Balance at the end of the period	1,084	1,296	1,475
Total
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	(220)	(496)
Tax (expense) benefit	(75)	53
Amounts reclassified from accumulated other comprehensive loss, gross	69	(59)
Tax (expense) benefit	(14)	11
Other comprehensive (loss) income, net of tax	(240)	(491)
Total | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	(1,110)	(626)
Other comprehensive (loss) income before reclassifications, gross	(221)	(481)
Tax (expense) benefit	(75)	51
Amounts reclassified from accumulated other comprehensive loss, gross	77	(66)
Tax (expense) benefit	(15)	12
Other comprehensive (loss) income, net of tax	(234)	(484)
Balance at the end of the period	(1,344)	(1,110)	(626)
Foreign currency translation adjustment
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	(271)	(187)
Tax (expense) benefit	(42)	(34)
Other comprehensive (loss) income, net of tax	(313)	(221)
Foreign currency translations adjustments, tax	90	47	13
Foreign currency translation adjustment | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	22	243
Other comprehensive (loss) income before reclassifications, gross	(272)	(187)
Tax (expense) benefit	(42)	(34)
Other comprehensive (loss) income, net of tax	(314)	(221)
Balance at the end of the period	(292)	22	243
Foreign currency translations adjustments, tax	76	34	0
Pension and other postretirement benefits adjustments
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	44	(311)
Tax (expense) benefit	(33)	88
Amounts reclassified from accumulated other comprehensive loss, gross	69	(59)
Tax (expense) benefit	(14)	11
Other comprehensive (loss) income, net of tax	66	(271)
Pension and other postretirement benefits adjustments, tax	135	182	83
Pension and other postretirement benefits adjustments | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	(1,147)	(883)
Other comprehensive (loss) income before reclassifications, gross	44	(296)
Tax (expense) benefit	(33)	86
Amounts reclassified from accumulated other comprehensive loss, gross	77	(66)
Tax (expense) benefit	(15)	12
Other comprehensive (loss) income, net of tax	73	(264)
Balance at the end of the period	(1,074)	(1,147)	(883)
Pension and other postretirement benefits adjustments, tax	163	211	113
Other comprehensive income of unconsolidated affiliates
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	1	(2)
Other comprehensive (loss) income, net of tax	1	(2)
Other comprehensive income of unconsolidated affiliates | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	10	12
Other comprehensive (loss) income before reclassifications, gross	1	(2)
Other comprehensive (loss) income, net of tax	1	(2)
Balance at the end of the period	11	10	12
Other, net
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	6	4
Tax (expense) benefit		(1)
Other comprehensive (loss) income, net of tax	6	3
Other, net | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	5	2
Other comprehensive (loss) income before reclassifications, gross	6	4
Tax (expense) benefit		(1)
Other comprehensive (loss) income, net of tax	6	3
Balance at the end of the period	11	5	2
Amounts attributable to noncontrolling interests
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	5	15
Other comprehensive (loss) income, net of tax	5	15
Amounts attributable to noncontrolling interests | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	23	8
Other comprehensive (loss) income before reclassifications, gross	5	15
Other comprehensive (loss) income, net of tax	5	15
Balance at the end of the period	28	23	8
Accumulated other comprehensive (loss) income
Components of other comprehensive income (loss)
Other comprehensive (loss) income before reclassifications, gross	(215)	(481)
Tax (expense) benefit	(75)	53
Amounts reclassified from accumulated other comprehensive loss, gross	69	(59)
Tax (expense) benefit	(14)	11
Other comprehensive (loss) income, net of tax	(235)	(476)	167
Accumulated other comprehensive (loss) income | Huntsman International
Components of other comprehensive income (loss)
Balance at the beginning of the period	(1,087)	(618)	(791)
Other comprehensive (loss) income before reclassifications, gross	(216)	(466)
Tax (expense) benefit	(75)	51
Amounts reclassified from accumulated other comprehensive loss, gross	77	(66)
Tax (expense) benefit	(15)	12
Other comprehensive (loss) income, net of tax	(229)	(469)	173
Balance at the end of the period	$ (1,316)	$ (1,087)	$ (618)

OTHER COMPREHENSIVE (LOSS) I108

OTHER COMPREHENSIVE (LOSS) INCOME (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension and other postretirement benefits adjustments
Reclassification from accumulated other comprehensive loss
Income tax expense	$ (14)	$ 11
Pension and other postretirement benefits adjustments | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	(69)	(59)	$ (84)
Income tax expense	14	11	23
Net of tax	(55)	(48)	(61)
Pension and other postretirement benefits adjustments | Huntsman International
Reclassification from accumulated other comprehensive loss
Income tax expense	(15)	12
Pension and other postretirement benefits adjustments | Huntsman International | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	(77)	(66)	(90)
Income tax expense	15	12	24
Net of tax	(62)	(54)	(66)
Prior Service Credit | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	10	9	8
Prior Service Credit | Huntsman International | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	10	9	8
Actuarial loss | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	(79)	(55)	(80)
Actuarial loss | Amount reclassified | Discontinued Operations
Reclassification from accumulated other comprehensive loss
Total before tax	6	4	6
Actuarial loss | Huntsman International | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax	(87)	(62)	(86)
Actuarial loss | Huntsman International | Amount reclassified | Discontinued Operations
Reclassification from accumulated other comprehensive loss
Total before tax	$ 6	4	6
Settlement loss | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax		(13)	(12)
Settlement loss | Huntsman International | Amount reclassified
Reclassification from accumulated other comprehensive loss
Total before tax		$ (13)	$ (12)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Aug. 31, 2015	Mar. 24, 2010	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
RELATED PARTY TRANSACTIONS
Sales			$ 131,000,000	$ 261,000,000	$ 232,000,000
Annual lease payments			94,000,000	97,000,000	80,000,000
Unconsolidated affiliates
RELATED PARTY TRANSACTIONS
Sales			131,000,000	261,000,000	232,000,000
Inventory purchases			487,000,000	614,000,000	597,000,000
Jstar
RELATED PARTY TRANSACTIONS
Monthly sublease payments			120,000
Amount payable at the end of the lease term			$ 8,000,000
Current lease term			6 years
Huntsman Foundation
RELATED PARTY TRANSACTIONS
Annual lease payments		$ 2,000,000
Operating lease payments during the period			$ 2,000,000	$ 2,000,000	$ 2,000,000
Extension period of lease			5 years
Jon M. Huntsman, executive chairman
RELATED PARTY TRANSACTIONS
Amount receivable on account of life insurance premium paid for related party			$ 2,000,000
Jon M. Huntsman, Jr. | Consulting Agreement
RELATED PARTY TRANSACTIONS
Monthly consulting expense	$ 50,000
Extension period of consulting agreement (in years)	1 year
Jon M. Huntsman, Jr. | Consulting Agreement | Maximum
RELATED PARTY TRANSACTIONS
Additional compensation expenses	$ 200,000

OPERATING SEGMENT INFORMATIO110

OPERATING SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
OPERATING SEGMENT INFORMATION
Number of segments | item									5
Operating segment information
Revenues	$ 2,332	$ 2,638	$ 2,740	$ 2,589	$ 2,951	$ 2,884	$ 2,988	$ 2,755	$ 10,299	$ 11,578	$ 11,079
Segment EBITDA									741	1,022	889
Interest expense									(205)	(205)	(190)
Income tax (expense) benefit-continuing operations									(46)	(51)	(125)
Income tax benefit (expense)-discontinued operations									2	2	2
Depreciation and amortization									(399)	(445)	(448)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	4	55	29	5	(38)	188	119	54	93	323	128
Subtotal
Operating segment information
Segment EBITDA									747	1,032	894
Depreciation and amortization									(399)	(445)	(446)
Discontinued Operations
Operating segment information
Segment EBITDA									(6)	(10)	(5)
Depreciation and amortization											(2)
Operating segments | Polyurethanes
Operating segment information
Revenues									3,811	5,032	4,964
Segment EBITDA									516	669	696
Depreciation and amortization									(100)	(131)	(156)
Operating segments | Performance Products
Operating segment information
Revenues									2,501	3,072	3,019
Segment EBITDA									438	440	372
Depreciation and amortization									(119)	(138)	(121)
Operating segments | Advanced Materials
Operating segment information
Revenues									1,103	1,248	1,267
Segment EBITDA									195	182	86
Depreciation and amortization									(38)	(42)	(38)
Operating segments | Textile Effects
Operating segment information
Revenues									804	896	811
Segment EBITDA									18	28	(78)
Depreciation and amortization									(17)	(16)	(17)
Operating segments | Pigments and Additives
Operating segment information
Revenues									2,160	1,549	1,269
Segment EBITDA									(223)	(59)	79
Depreciation and amortization									(93)	(78)	(73)
Eliminations.
Operating segment information
Revenues									(80)	(219)	(251)
Corporate and other
Operating segment information
Segment EBITDA									(197)	(228)	(261)
Depreciation and amortization									(32)	(40)	(41)
Huntsman International
Operating segment information
Revenues	2,332	2,638	2,740	2,589	2,951	2,884	2,988	2,755	10,299	11,578	11,079
Segment EBITDA									738	1,020	888
Interest expense									(214)	(214)	(203)
Income tax (expense) benefit-continuing operations									(45)	(43)	(137)
Income tax benefit (expense)-discontinued operations									2	2	2
Depreciation and amortization									(387)	(430)	(424)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	$ 4	$ 56	$ 29	$ 5	$ (40)	$ 198	$ 120	$ 57	94	335	126
Huntsman International | Subtotal
Operating segment information
Segment EBITDA									744	1,030	893
Depreciation and amortization									(387)	(430)	(422)
Huntsman International | Discontinued Operations
Operating segment information
Segment EBITDA									(6)	(10)	(5)
Depreciation and amortization											(2)
Huntsman International | Operating segments | Polyurethanes
Operating segment information
Segment EBITDA									516	669	696
Depreciation and amortization									(100)	(131)	(156)
Huntsman International | Operating segments | Performance Products
Operating segment information
Segment EBITDA									438	440	372
Depreciation and amortization									(119)	(138)	(121)
Huntsman International | Operating segments | Advanced Materials
Operating segment information
Segment EBITDA									195	182	86
Depreciation and amortization									(38)	(42)	(38)
Huntsman International | Operating segments | Textile Effects
Operating segment information
Segment EBITDA									18	28	(78)
Depreciation and amortization									(17)	(16)	(17)
Huntsman International | Operating segments | Pigments and Additives
Operating segment information
Segment EBITDA									(223)	(59)	79
Depreciation and amortization									(93)	(78)	(73)
Huntsman International | Corporate and other
Operating segment information
Segment EBITDA									(200)	(230)	(262)
Depreciation and amortization									$ (20)	$ (25)	$ (17)

OPERATING SEGMENT INFORMATIO111

OPERATING SEGMENT INFORMATION (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating segment information
Capital Expenditures	$ 663	$ 601	$ 471
Total Assets	9,820	10,923	9,159
Operating segments | Polyurethanes
Operating segment information
Capital Expenditures	181	174	132
Total Assets	2,779	2,859	2,839
Operating segments | Performance Products
Operating segment information
Capital Expenditures	205	181	115
Total Assets	2,264	2,326	2,320
Operating segments | Advanced Materials
Operating segment information
Capital Expenditures	25	46	73
Total Assets	822	828	918
Operating segments | Textile Effects
Operating segment information
Capital Expenditures	24	38	31
Total Assets	562	574	653
Operating segments | Pigments and Additives
Operating segment information
Capital Expenditures	202	136	98
Total Assets	2,494	2,640	1,469
Corporate and other
Operating segment information
Capital Expenditures	26	26	22
Total Assets	899	1,696	960
Huntsman International
Operating segment information
Capital Expenditures	663	601	471
Total Assets	10,088	11,022	9,382
Huntsman International | Operating segments | Polyurethanes
Operating segment information
Capital Expenditures	181	174	132
Total Assets	2,760	2,833	2,839
Huntsman International | Operating segments | Performance Products
Operating segment information
Capital Expenditures	205	181	115
Total Assets	2,262	2,323	2,320
Huntsman International | Operating segments | Advanced Materials
Operating segment information
Capital Expenditures	25	46	73
Total Assets	822	828	918
Huntsman International | Operating segments | Textile Effects
Operating segment information
Capital Expenditures	24	38	31
Total Assets	562	574	653
Huntsman International | Operating segments | Pigments and Additives
Operating segment information
Capital Expenditures	202	136	98
Total Assets	2,480	2,621	1,469
Huntsman International | Corporate and other
Operating segment information
Capital Expenditures	26	26	22
Total Assets	$ 1,202	$ 1,843	$ 1,183

OPERATING SEGMENT INFORMATIO112

OPERATING SEGMENT INFORMATION (Details 3) - USD ($) $ in Millions	3 Months Ended										12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014		Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Revenues and long-lived assets
Revenues	$ 2,332		$ 2,638	$ 2,740	$ 2,589	$ 2,951		$ 2,884	$ 2,988	$ 2,755	$ 10,299		$ 11,578		$ 11,079
Long-lived assets	4,446	[1]				4,423	[1]				4,446	[1]	4,423	[1]	3,824
Huntsman International
Revenues and long-lived assets
Revenues	2,332		$ 2,638	$ 2,740	$ 2,589	2,951		$ 2,884	$ 2,988	$ 2,755	10,299		11,578		11,079
Long-lived assets	4,410	[1]				4,375	[1]				4,410	[1]	4,375	[1]	3,759
United States
Revenues and long-lived assets
Revenues											3,228		3,540		3,319
Long-lived assets	1,938					1,748					1,938		1,748		1,422
United States | Huntsman International
Revenues and long-lived assets
Long-lived assets	1,902					1,700					1,902		1,700		1,357
Germany
Revenues and long-lived assets
Revenues											714		677		586
Long-lived assets	362					381					362		381		200
Germany | Huntsman International
Revenues and long-lived assets
Long-lived assets	362					381					362		381		200
Netherlands
Revenues and long-lived assets
Long-lived assets	304					314					304		314		356
Netherlands | Huntsman International
Revenues and long-lived assets
Long-lived assets	304					314					304		314		356
United Kingdom
Revenues and long-lived assets
Long-lived assets	320					311					320		311		312
United Kingdom | Huntsman International
Revenues and long-lived assets
Long-lived assets	320					311					320		311		312
Mexico
Revenues and long-lived assets
Revenues											475		825		853
China
Revenues and long-lived assets
Revenues											1,110		1,200		1,081
Long-lived assets	217					221					217		221		202
China | Huntsman International
Revenues and long-lived assets
Long-lived assets	217					221					217		221		202
Italy
Revenues and long-lived assets
Long-lived assets	229					211					229		211		197
Italy | Huntsman International
Revenues and long-lived assets
Long-lived assets	229					211					229		211		197
Other nations
Revenues and long-lived assets
Revenues											4,772		5,336		5,240
Long-lived assets	1,076					1,237					1,076		1,237		1,135
Other nations | Huntsman International
Revenues and long-lived assets
Long-lived assets	$ 1,076					$ 1,237					$ 1,076		$ 1,237		$ 1,135
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

CONDENSED CONSOLIDATING FINA113

CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL LLC (UNAUDITED) (Details) $ in Millions		Dec. 31, 2015USD ($)item		Dec. 31, 2014USD ($)		Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Condensed consolidating balance sheets
Percentage of holding in subsidiaries		100.00%
Current assets:
Cash and cash equivalents		$ 257	[1]	$ 860	[1]	$ 520	$ 387
Restricted cash	[1]	12		10
Accounts and notes receivable, net	[1]	1,420		1,665
Accounts receivable from affiliates		29		42
Inventories	[1]	1,692		2,025
Prepaid expenses		112		62
Deferred income taxes				62
Other current assets	[1]	312		313
Total current assets		3,834		5,039
Property, plant and equipment, net		4,446	[1]	4,423	[1]	3,824
Investment in unconsolidated affiliates		347		350
Intangible assets, net	[1]	86		95
Goodwill		116		122
Deferred income taxes		418		435
Other noncurrent assets	[1]	573		459
Total assets		9,820		10,923		9,159
Current liabilities:
Accounts payable	[1]	1,034		1,218
Accounts payable to affiliates		27		57
Accrued liabilities	[1]	686		739
Deferred income taxes				51
Current portion of debt	[1]	170		267
Total current liabilities		1,917		2,332
Long-term debt	[1]	4,625		4,854
Notes payable to affiliates		1		6
Deferred income taxes		422		333
Other noncurrent liabilities	[1]	1,226		1,447
Total liabilities		8,191		8,972
Huntsman International LLC members' equity
Accumulated (deficit) income		(528)		(493)
Accumulated other comprehensive (loss) income		(1,288)		(1,053)
Noncontrolling interests in subsidiaries		187		173
Total liabilities and equity		$ 9,820		10,923
Rockwood Holdings, Inc
Condensed consolidating balance sheets
Number of guarantor entities | item		4
Huntsman International
Condensed consolidating balance sheets
Percentage of holding in subsidiaries		100.00%
Current assets:
Cash and cash equivalents		$ 257	[1]	710	[1]	515	210
Restricted cash	[1]	12		10
Accounts and notes receivable, net	[1]	1,420		1,665
Accounts receivable from affiliates		340		346
Inventories	[1]	1,692		2,025
Prepaid expenses		111		61
Deferred income taxes				62
Other current assets	[1]	306		306
Total current assets		4,138		5,185
Property, plant and equipment, net		4,410	[1]	4,375	[1]	3,759
Investment in unconsolidated affiliates		347		350
Intangible assets, net	[1]	86		96
Goodwill		116		122
Deferred income taxes		418		435
Other noncurrent assets	[1]	573		459
Total assets		10,088		11,022		9,382
Current liabilities:
Accounts payable	[1]	1,034		1,218
Accounts payable to affiliates		52		74
Accrued liabilities	[1]	683		736
Deferred income taxes				52
Notes payable to affiliates		100		100
Current portion of debt		170		267
Total current liabilities		2,039		2,447
Long-term debt	[1]	4,625		4,854
Notes payable to affiliates		698		656
Deferred income taxes		418		326
Other noncurrent liabilities	[1]	1,224		1,443
Total liabilities		9,004		9,726
Huntsman International LLC members' equity
Members' equity		3,196		3,166
Accumulated (deficit) income		(983)		(956)
Accumulated other comprehensive (loss) income		(1,316)		(1,087)
Total Huntsman International LLC members' equity		897		1,123
Noncontrolling interests in subsidiaries		187		173
Total equity		1,084		1,296		1,475	1,217
Total liabilities and equity		10,088		11,022
Reportable legal entities | Huntsman International | Parent Company
Current assets:
Cash and cash equivalents		44		353		308	7
Accounts and notes receivable, net		21		57
Accounts receivable from affiliates		2,163		2,256
Inventories		101		120
Prepaid expenses		49		17
Deferred income taxes				12
Other current assets		790		697
Total current assets		3,168		3,512
Property, plant and equipment, net		473		431
Investment in unconsolidated affiliates		5,991		6,024
Intangible assets, net		32		35
Goodwill		(13)		(15)
Deferred income taxes		473		454
Notes receivable from affiliates		36		23
Other noncurrent assets		71		48
Total assets		10,231		10,512
Current liabilities:
Accounts payable		50		55
Accounts payable to affiliates		3,905		3,696
Accrued liabilities		74		102
Notes payable to affiliates		100		100
Current portion of debt		89		40
Total current liabilities		4,218		3,993
Long-term debt		4,229		4,550
Notes payable to affiliates		703		650
Deferred income taxes		24		29
Other noncurrent liabilities		160		167
Total liabilities		9,334		9,389
Huntsman International LLC members' equity
Members' equity		3,196		3,166
Accumulated (deficit) income		(983)		(956)
Accumulated other comprehensive (loss) income		(1,316)		(1,087)
Total Huntsman International LLC members' equity		897		1,123
Total equity		897		1,123
Total liabilities and equity		10,231		10,512
Reportable legal entities | Huntsman International | Guarantors
Current assets:
Cash and cash equivalents		1		6			2
Accounts and notes receivable, net		96		127
Accounts receivable from affiliates		4,730		4,732
Inventories		322		350
Prepaid expenses		31		9
Other current assets		8		7
Total current assets		5,188		5,231
Property, plant and equipment, net		1,433		1,251
Investment in unconsolidated affiliates		1,558		1,594
Intangible assets, net		3		5
Goodwill		82		82
Notes receivable from affiliates		539		592
Other noncurrent assets		223		203
Total assets		9,026		8,958
Current liabilities:
Accounts payable		207		290
Accounts payable to affiliates		973		974
Accrued liabilities		793		699
Deferred income taxes				51
Total current liabilities		1,973		2,014
Deferred income taxes		276		197
Other noncurrent liabilities		241		261
Total liabilities		2,490		2,472
Huntsman International LLC members' equity
Members' equity		4,517		4,676
Accumulated (deficit) income		652		409
Accumulated other comprehensive (loss) income		1,367		1,401
Total Huntsman International LLC members' equity		6,536		6,486
Total equity		6,536		6,486
Total liabilities and equity		9,026		8,958
Reportable legal entities | Huntsman International | Nonguarantors
Current assets:
Cash and cash equivalents		212		351		$ 207	$ 201
Restricted cash		12		10
Accounts and notes receivable, net		1,298		1,476
Accounts receivable from affiliates		163		152
Inventories		1,275		1,558
Prepaid expenses		91		46
Deferred income taxes				68
Other current assets		212		208
Total current assets		3,263		3,869
Property, plant and equipment, net		2,503		2,692
Investment in unconsolidated affiliates		263		256
Intangible assets, net		51		56
Goodwill		47		55
Deferred income taxes		430		435
Notes receivable from affiliates		6
Other noncurrent assets		279		212
Total assets		6,842		7,575
Current liabilities:
Accounts payable		772		868
Accounts payable to affiliates		1,891		2,198
Accrued liabilities		581		553
Deferred income taxes				20
Current portion of debt		81		227
Total current liabilities		3,325		3,866
Long-term debt		396		304
Notes payable to affiliates		576		621
Deferred income taxes		36		46
Other noncurrent liabilities		819		1,015
Total liabilities		5,152		5,852
Huntsman International LLC members' equity
Members' equity		3,394		3,127
Accumulated (deficit) income		(557)		(501)
Accumulated other comprehensive (loss) income		(1,311)		(1,076)
Total Huntsman International LLC members' equity		1,526		1,550
Noncontrolling interests in subsidiaries		164		173
Total equity		1,690		1,723
Total liabilities and equity		6,842		7,575
Eliminations | Huntsman International
Current assets:
Accounts and notes receivable, net		5		5
Accounts receivable from affiliates		(6,716)		(6,794)
Inventories		(6)		(3)
Prepaid expenses		(60)		(11)
Deferred income taxes				(18)
Other current assets		(704)		(606)
Total current assets		(7,481)		(7,427)
Property, plant and equipment, net		1		1
Investment in unconsolidated affiliates		(7,465)		(7,524)
Deferred income taxes		(485)		(454)
Notes receivable from affiliates		(581)		(615)
Other noncurrent assets				(4)
Total assets		(16,011)		(16,023)
Current liabilities:
Accounts payable		5		5
Accounts payable to affiliates		(6,717)		(6,794)
Accrued liabilities		(765)		(618)
Deferred income taxes				(19)
Total current liabilities		(7,477)		(7,426)
Notes payable to affiliates		(581)		(615)
Deferred income taxes		82		54
Other noncurrent liabilities		4
Total liabilities		(7,972)		(7,987)
Huntsman International LLC members' equity
Members' equity		(7,911)		(7,803)
Accumulated (deficit) income		(95)		92
Accumulated other comprehensive (loss) income		(56)		(325)
Total Huntsman International LLC members' equity		(8,062)		(8,036)
Noncontrolling interests in subsidiaries		23
Total equity		(8,039)		(8,036)
Total liabilities and equity		$ (16,011)		$ (16,023)
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

CONDENSED CONSOLIDATING FINA114

CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL LLC (UNAUDITED) (Details 2) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Trade sales, services and fees, net									$ 10,168	$ 11,317	$ 10,847
Related party sales									131	261	232
Total revenues	$ 2,332	$ 2,638	$ 2,740	$ 2,589	$ 2,951	$ 2,884	$ 2,988	$ 2,755	10,299	11,578	11,079
Cost of goods sold									8,451	9,659	9,326
Gross profit	376	473	549	450	449	515	505	450	1,848	1,919	1,753
Selling, general and administrative									982	974	942
Research and development									160	158	140
Other operating (income) expense									(1)	(4)	10
Restructuring, impairment and plant closing costs	81	14	114	93	67	39	13	39	302	158	151
Operating income (loss)									405	633	510
Interest (expense) income									(205)	(205)	(190)
Equity in income (loss) of investment in affiliates and subsidiaries									6	6	8
Loss on early extinguishment of debt									(31)	(28)	(51)
Other income (loss)									1	(2)	2
(Loss) income from continuing operations before income taxes									176	404	279
Income tax benefit (expense)									(46)	(51)	(125)
Income (loss) from continuing operations	9	63	41	17	(34)	194	124	69	130	353	154
Income (loss) from discontinued operations, net of tax									(4)	(8)	(5)
Net income (loss)	9	63	39	15	(35)	194	124	62	126	345	149
Net income attributable to noncontrolling interests									(33)	(22)	(21)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	4	55	29	5	(38)	188	119	54	93	323	128
Other comprehensive (loss) income									(240)	(491)	172
Comprehensive income attributable to noncontrolling interests									(28)	(7)	(26)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									(142)	(153)	295
Huntsman International
Revenues:
Trade sales, services and fees, net									10,168	11,317	10,847
Related party sales									131	261	232
Total revenues	2,332	2,638	2,740	2,589	2,951	2,884	2,988	2,755	10,299	11,578	11,079
Cost of goods sold									8,447	9,651	9,309
Gross profit	377	474	549	452	450	516	506	455	1,852	1,927	1,770
Selling, general and administrative									977	969	936
Research and development									160	158	140
Other operating (income) expense										(4)	10
Restructuring, impairment and plant closing costs	81	14	114	93	67	39	13	39	302	158	151
Operating income (loss)									413	646	533
Interest (expense) income									(214)	(214)	(203)
Equity in income (loss) of investment in affiliates and subsidiaries									6	6	8
Loss on early extinguishment of debt									(31)	(28)	(51)
Other income (loss)									2	(1)	2
(Loss) income from continuing operations before income taxes									176	409	289
Income tax benefit (expense)									(45)	(43)	(137)
Income (loss) from continuing operations	9	64	41	17	(35)	204	125	72	131	366	152
Income (loss) from discontinued operations, net of tax									(4)	(9)	(5)
Net income (loss)	9	64	39	15	(37)	204	125	65	127	357	147
Net income attributable to noncontrolling interests									(33)	(22)	(21)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	$ 4	$ 56	$ 29	$ 5	$ (40)	$ 198	$ 120	$ 57	94	335	126
Other comprehensive (loss) income									(234)	(484)	178
Comprehensive income attributable to noncontrolling interests									(28)	(7)	(26)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									(135)	(134)	299
Reportable legal entities | Huntsman International | Parent Company
Revenues:
Trade sales, services and fees, net									1,054	1,194	1,039
Related party sales									238	299	315
Total revenues									1,292	1,493	1,354
Cost of goods sold									1,026	1,222	1,097
Gross profit									266	271	257
Selling, general and administrative									172	164	168
Research and development									54	48	51
Other operating (income) expense									(27)	(7)	(6)
Restructuring, impairment and plant closing costs									7	7	13
Operating income (loss)									60	59	31
Interest (expense) income									(220)	(204)	(185)
Equity in income (loss) of investment in affiliates and subsidiaries									169	186	118
Loss on early extinguishment of debt									(31)	(28)	(51)
Other income (loss)									2	3	2
(Loss) income from continuing operations before income taxes									(20)	16	(85)
Income tax benefit (expense)									113	318	210
Income (loss) from continuing operations									93	334	125
Income (loss) from discontinued operations, net of tax									1	1	1
Net income (loss)									94	335	126
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC									94	335	126
Other comprehensive (loss) income									(229)	(469)	173
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									(135)	(134)	299
Reportable legal entities | Huntsman International | Guarantors
Revenues:
Trade sales, services and fees, net									2,478	3,164	3,193
Related party sales									470	511	470
Total revenues									2,948	3,675	3,663
Cost of goods sold									2,341	2,909	2,904
Gross profit									607	766	759
Selling, general and administrative									174	163	131
Research and development									45	40	38
Other operating (income) expense									(29)	(8)	(10)
Restructuring, impairment and plant closing costs									12	5	15
Operating income (loss)									405	566	585
Interest (expense) income									35	37	43
Equity in income (loss) of investment in affiliates and subsidiaries									(57)	(51)	(134)
Other income (loss)									(12)	(5)
(Loss) income from continuing operations before income taxes									371	547	494
Income tax benefit (expense)									(123)	(202)	(200)
Income (loss) from continuing operations									248	345	294
Income (loss) from discontinued operations, net of tax									(2)		(1)
Net income (loss)									246	345	293
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC									246	345	293
Other comprehensive (loss) income									(35)	115	34
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									211	460	327
Reportable legal entities | Huntsman International | Nonguarantors
Revenues:
Trade sales, services and fees, net									6,636	6,959	6,615
Related party sales									1,062	1,377	1,277
Total revenues									7,698	8,336	7,892
Cost of goods sold									6,717	7,451	7,137
Gross profit									981	885	755
Selling, general and administrative									631	642	637
Research and development									61	70	51
Other operating (income) expense									56	11	26
Restructuring, impairment and plant closing costs									283	146	123
Operating income (loss)									(50)	16	(82)
Interest (expense) income									(29)	(47)	(61)
Equity in income (loss) of investment in affiliates and subsidiaries									5	6	8
Other income (loss)									13	3	2
(Loss) income from continuing operations before income taxes									(61)	(22)	(133)
Income tax benefit (expense)									24	(2)	26
Income (loss) from continuing operations									(37)	(24)	(107)
Income (loss) from discontinued operations, net of tax									(3)	(10)	(5)
Net income (loss)									(40)	(34)	(112)
Net income attributable to noncontrolling interests									(22)	(18)	(22)
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC									(62)	(52)	(134)
Other comprehensive (loss) income									(248)	(440)	48
Comprehensive income attributable to noncontrolling interests									(13)	(8)	(23)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									(301)	(482)	(87)
Eliminations | Huntsman International
Revenues:
Related party sales									(1,639)	(1,926)	(1,830)
Total revenues									(1,639)	(1,926)	(1,830)
Cost of goods sold									(1,637)	(1,931)	(1,829)
Gross profit									(2)	5	(1)
Operating income (loss)									(2)	5	(1)
Equity in income (loss) of investment in affiliates and subsidiaries									(111)	(135)	16
Other income (loss)									(1)	(2)	(2)
(Loss) income from continuing operations before income taxes									(114)	(132)	13
Income tax benefit (expense)									(59)	(157)	(173)
Income (loss) from continuing operations									(173)	(289)	(160)
Net income (loss)									(173)	(289)	(160)
Net income attributable to noncontrolling interests									(11)	(4)	1
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC									(184)	(293)	(159)
Other comprehensive (loss) income									278	310	(77)
Comprehensive income attributable to noncontrolling interests									(15)	1	(3)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									$ 90	$ 22	$ (240)

CONDENSED CONSOLIDATING FINA115

CONDENSED CONSOLIDATING FINANCIAL INFORMATION-HUNTSMAN INTERNATIONAL LLC (UNAUDITED) (Details 3) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015		Sep. 30, 2014	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Condensed consolidating statements of cash flows
Net cash provided by (used in) by operating activities					$ 575		$ 760		$ 708
Investing Activities:
Capital expenditures					(663)		(601)		(471)
Cash received from unconsolidated affiliates					48		51		71
Investment in unconsolidated affiliates					(54)		(108)		(104)
Acquisition of businesses, net of cash acquired					(14)		(960)		(66)
Cash received from purchase price adjustment for business acquired	$ 18				18
Proceeds from sale of businesses/assets					1		15		2
Cash received from termination of cross-currency interest rate contracts					66
Change in restricted cash					(3)
Other, net					1		(3)		2
Net cash provided by (used in) investing activities					(600)		(1,606)		(566)
Financing activities:
Net repayments under revolving loan facilities					(1)		(1)		(4)
Net borrowings on overdraft facilities					(8)		(5)		(9)
Repayments of short-term debt							(8)		(18)
Borrowings on short-term debt					12		15		15
Repayments of long-term debt					(604)		(418)		(840)
Proceeds from issuance of long-term debt					326		1,792		979
Repayments of notes payable					(33)		(34)		(40)
Borrowings on notes payable					34		33		35
Debt issuance costs paid					(8)		(67)		(11)
Call premiums related to early extinguishment of debt					(35)		(24)		(4)
Contingent consideration paid for business acquired					(4)		(6)
Dividends paid to noncontrolling interests					(14)		(4)
Excess tax benefit related to stock-based compensation					1		1		1
Other, net					(1)		4		3
Net cash (used in) provided by financing activities					(562)		1,197		(6)
Effect of exchange rate changes on cash					(16)		(11)		(3)
(Decrease) increase in cash and cash equivalents					(603)		340		133
Cash and cash equivalents at beginning of period		$ 860	[1]		860	[1]	520		387
Cash and cash equivalents at end of period					257	[1]	860	[1]	520
Huntsman International
Condensed consolidating statements of cash flows
Net cash provided by (used in) by operating activities					570		754		734
Investing Activities:
Capital expenditures					(663)		(601)		(471)
Cash received from unconsolidated affiliates					48		51		71
Investment in unconsolidated affiliates					(54)		(108)		(104)
Acquisition of businesses, net of cash acquired					(14)		(960)		(66)
Cash received from purchase price adjustment for business acquired					18
Proceeds from sale of businesses/assets					1		15		2
Decrease (increase) in receivable from affiliate					1		(2)		(48)
Cash received from termination of cross-currency interest rate contracts					66
Change in restricted cash					(3)
Other, net					1		(2)		2
Net cash provided by (used in) investing activities					(599)		(1,607)		(614)
Financing activities:
Net repayments under revolving loan facilities					(1)		(1)		(4)
Net borrowings on overdraft facilities					(8)		(5)		(9)
Repayments of short-term debt							(8)		(18)
Borrowings on short-term debt					12		15		15
Repayments of long-term debt					(604)		(418)		(840)
Proceeds from issuance of long-term debt					326		1,792		979
Repayments of notes payable to affiliate					(148)		(122)
Proceeds from notes payable to affiliate					195				177
Repayments of notes payable					(33)		(34)		(40)
Borrowings on notes payable					34		33		35
Debt issuance costs paid					(8)		(67)		(11)
Call premiums related to early extinguishment of debt					(35)		(24)		(4)
Contingent consideration paid for business acquired					(4)		(6)
Dividends paid to noncontrolling interests					(14)		(4)
Dividends paid to parent					(121)		(97)		(96)
Excess tax benefit related to stock-based compensation					1		1		1
Other, net							4		3
Net cash (used in) provided by financing activities					(408)		1,059		188
Effect of exchange rate changes on cash					(16)		(11)		(3)
(Decrease) increase in cash and cash equivalents					(453)		195		305
Cash and cash equivalents at beginning of period		710	[1]		710	[1]	515		210
Cash and cash equivalents at end of period					257	[1]	710	[1]	515
Noncash capital contribution between guarantor and nonguarantor entities		284		$ 116
Noncash capital contribution between parent and guarantor entities		123
Reportable legal entities | Huntsman International | Parent Company
Condensed consolidating statements of cash flows
Net cash provided by (used in) by operating activities					(23)		25		113
Investing Activities:
Capital expenditures					(70)		(85)		(52)
Investment in affiliate					34		38		68
Acquisition of businesses, net of cash acquired							(1,038)		(66)
Cash received from purchase price adjustment for business acquired					18
Proceeds from sale of businesses/assets							3
Decrease (increase) in receivable from affiliate					1		(2)		(48)
Cash received from termination of cross-currency interest rate contracts					66
Other, net					1				(2)
Net cash provided by (used in) investing activities					50		(1,084)		(100)
Financing activities:
Repayments of long-term debt					(548)		(372)		(761)
Proceeds from issuance of long-term debt					326		1,792		978
Repayments of notes payable to affiliate					(148)		(122)
Proceeds from notes payable to affiliate					201				177
Repayments of notes payable					(32)		(32)		(33)
Borrowings on notes payable					32		31		33
Debt issuance costs paid					(8)		(67)		(11)
Call premiums related to early extinguishment of debt					(35)		(24)		(4)
Contingent consideration paid for business acquired					(4)		(6)
Dividends paid to parent					(121)		(97)		(96)
Excess tax benefit related to stock-based compensation					1		1		1
Other, net									4
Net cash (used in) provided by financing activities					(336)		1,104		288
(Decrease) increase in cash and cash equivalents					(309)		45		301
Cash and cash equivalents at beginning of period		353			353		308		7
Cash and cash equivalents at end of period					44		353		308
Reportable legal entities | Huntsman International | Guarantors
Condensed consolidating statements of cash flows
Net cash provided by (used in) by operating activities					277		252		167
Investing Activities:
Capital expenditures					(267)		(223)		(134)
Cash received from unconsolidated affiliates					48		48		71
Investment in affiliate					3		(10)		(11)
Investment in unconsolidated affiliates					(42)		(37)		(60)
Net cash provided by (used in) investing activities					(258)		(222)		(134)
Financing activities:
Contribution from parent					5		11		11
Distribution to parent					(27)		(34)		(44)
Dividends paid to parent					(2)		(2)		(2)
Other, net							1
Net cash (used in) provided by financing activities					(24)		(24)		(35)
(Decrease) increase in cash and cash equivalents					(5)		6		(2)
Cash and cash equivalents at beginning of period		6			6				2
Cash and cash equivalents at end of period					1		6
Reportable legal entities | Huntsman International | Nonguarantors
Condensed consolidating statements of cash flows
Net cash provided by (used in) by operating activities					318		480		456
Investing Activities:
Capital expenditures					(326)		(293)		(285)
Cash received from unconsolidated affiliates							3
Investment in affiliate					(6)
Investment in unconsolidated affiliates					(12)		(71)		(44)
Acquisition of businesses, net of cash acquired					(14)		78
Proceeds from sale of businesses/assets					1		12		2
Change in restricted cash					(3)
Other, net							(2)		4
Net cash provided by (used in) investing activities					(360)		(273)		(323)
Financing activities:
Net repayments under revolving loan facilities					(1)		(1)		(4)
Net borrowings on overdraft facilities					(8)		(5)		(9)
Repayments of short-term debt							(8)		(18)
Borrowings on short-term debt					12		15		15
Repayments of long-term debt					(56)		(46)		(79)
Proceeds from issuance of long-term debt									1
Repayments of notes payable					(1)		(2)		(7)
Borrowings on notes payable					2		2		2
Contribution from parent					(7)		(4)		(24)
Dividends paid to noncontrolling interests					(14)		(4)
Distribution to parent					(8)		(1)
Other, net							2		(1)
Net cash (used in) provided by financing activities					(81)		(52)		(124)
Effect of exchange rate changes on cash					(16)		(11)		(3)
(Decrease) increase in cash and cash equivalents					(139)		144		6
Cash and cash equivalents at beginning of period		$ 351			351		207		201
Cash and cash equivalents at end of period					212		351		207
Eliminations | Huntsman International
Condensed consolidating statements of cash flows
Net cash provided by (used in) by operating activities					(2)		(3)		(2)
Investing Activities:
Investment in affiliate					(31)		(28)		(57)
Net cash provided by (used in) investing activities					(31)		(28)		(57)
Financing activities:
Proceeds from notes payable to affiliate					(6)
Contribution from parent					2		(7)		13
Distribution to parent					35		35		44
Dividends paid to parent					2		2		2
Other, net							1
Net cash (used in) provided by financing activities					$ 33		$ 31		$ 59
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

SELECTED UNAUDITED QUARTERLY116

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information
Revenues	$ 2,332	$ 2,638	$ 2,740	$ 2,589	$ 2,951	$ 2,884	$ 2,988	$ 2,755	$ 10,299	$ 11,578	$ 11,079
Gross profit	376	473	549	450	449	515	505	450	1,848	1,919	1,753
Restructuring, impairment and plant closing costs	81	14	114	93	67	39	13	39	302	158	151
Income (loss) from continuing operations	9	63	41	17	(34)	194	124	69	130	353	154
Net income	9	63	39	15	(35)	194	124	62	126	345	149
Net income attributable to Huntsman Corporation	$ 4	$ 55	$ 29	$ 5	$ (38)	$ 188	$ 119	$ 54	$ 93	$ 323	$ 128
Basic income (loss) per share:
(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.02	$ 0.23	$ 0.13	$ 0.03	$ (0.16)	$ 0.77	$ 0.49	$ 0.25	$ 0.40	$ 1.36	$ 0.55
Net (loss) income attributable to Huntsman Corporation common stockholders (in dollars per share)	0.02	0.23	0.12	0.02	(0.16)	0.77	0.49	0.22	0.38	1.33	0.53
Diluted income (loss) per share:
(Loss) income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share)	0.02	0.22	0.13	0.03	(0.16)	0.76	0.48	0.25	0.40	1.34	0.55
Net (loss) income attributable to Huntsman Corporation common stockholders (in dollars per share)	$ 0.02	$ 0.22	$ 0.12	$ 0.02	$ (0.16)	$ 0.76	$ 0.48	$ 0.22	$ 0.38	$ 1.31	$ 0.53
Foreign tax credits	$ 14				$ 17				$ 14	$ 17
Taxable gain (loss) on currency conversion of intercompany debt									0
Tax benefit from foreign exchange transactions	33								33
Tax benefit from currency exchange gains before valuation allowances and contingencies	58								58	7	$ (14)
Contingent liabilities and valuation allowances	25								25
Discrete tax benefit						$ 94
Huntsman International
Quarterly Financial Information
Revenues	2,332	$ 2,638	$ 2,740	$ 2,589	2,951	2,884	$ 2,988	$ 2,755	10,299	11,578	11,079
Gross profit	377	474	549	452	450	516	506	455	1,852	1,927	1,770
Restructuring, impairment and plant closing costs	81	14	114	93	67	39	13	39	302	158	151
Income (loss) from continuing operations	9	64	41	17	(35)	204	125	72	131	366	152
Net income	9	64	39	15	(37)	204	125	65	127	357	147
Net income attributable to Huntsman Corporation	4	$ 56	$ 29	$ 5	(40)	$ 198	$ 120	$ 57	94	335	126
Diluted income (loss) per share:
Foreign tax credits	$ 14				$ 17				14	17
Tax benefit from currency exchange gains before valuation allowances and contingencies									$ 58	$ 7	$ (14)

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of Registrant (PARENT ONLY) (Details) - USD ($) $ / shares in Units, $ in Millions		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents		$ 257	[1]	$ 860	[1]	$ 520	$ 387
Receivable from affiliate		29		42
Total current assets		3,834		5,039
Investment in and advances to affiliates		347		350
Total assets		9,820		10,923		9,159
LIABILITIES AND STOCKHOLDERS' EQUITY
Payable to affiliate		27		57
Accrued liabilities	[1]	686		739
Total current liabilities		1,917		2,332
Other long-term liabilities	[1]	1,226		1,447
Total liabilities		8,191		8,972
STOCKHOLDERS' EQUITY
Common stock $0.01 par value, 1,200,000,000 shares authorized, 0 and 248,893,036 issued and 0 and 243,416,979 outstanding in 2015 and 2014, respectively		3		3
Additional paid-in capital		3,407		3,385
Treasury stock, 11,162,454 and 4,043,526 shares in 2015 and 2014, respectively		(135)		(50)
Unearned stock-based compensation		(17)		(14)
Accumulated deficit		(528)		(493)
Accumulated other comprehensive loss		(1,288)		(1,053)
Total Huntsman Corporation stockholders' equity		1,442		1,778
Total liabilities and equity		$ 9,820		$ 10,923
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Common stock, shares authorized		1,200,000,000		1,200,000,000
Common stock, shares issued		249,483,541		248,893,036
Common stock, shares outstanding		237,080,026		243,416,979
Treasury stock, shares		11,162,454		4,043,526
Huntsman Corporation
ASSETS
Cash and cash equivalents				$ 150		5	177
Receivable from affiliate		$ 26		16
Note receivable from affiliate		100		100
Total current assets		126		266
Note receivable from affiliate-long-term		697		650
Investment in and advances to affiliates		938		1,176
Total assets		1,761		2,092
LIABILITIES AND STOCKHOLDERS' EQUITY
Payable to affiliate		312		304
Accrued liabilities		2		2
Total current liabilities		314		306
Other long-term liabilities		5		8
Total liabilities		319		314
STOCKHOLDERS' EQUITY
Common stock $0.01 par value, 1,200,000,000 shares authorized, 0 and 248,893,036 issued and 0 and 243,416,979 outstanding in 2015 and 2014, respectively		3		3
Additional paid-in capital		3,407		3,385
Treasury stock, 11,162,454 and 4,043,526 shares in 2015 and 2014, respectively		(135)		(50)
Unearned stock-based compensation		(17)		(14)
Accumulated deficit		(528)		(493)
Accumulated other comprehensive loss		(1,288)		(1,053)
Total Huntsman Corporation stockholders' equity		1,442		1,778		$ 1,980	$ 1,773
Total liabilities and equity		$ 1,761		$ 2,092
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Common stock, shares authorized		1,200,000,000		1,200,000,000
Common stock, shares issued		249,483,541		248,893,036
Common stock, shares outstanding		237,080,026		243,416,979
Treasury stock, shares		11,162,454		4,043,526
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

Schedule I - Condensed Finan118

Schedule I - Condensed Financial Information of Registrant (PARENT ONLY) (Details 2) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Information
Selling, general and administrative									$ (982)	$ (974)	$ (942)
Interest income									(205)	(205)	(190)
Equity in (loss) income of subsidiaries									6	6	8
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC	$ 4	$ 55	$ 29	$ 5	$ (38)	$ 188	$ 119	$ 54	93	323	128
Huntsman Corporation
Condensed Financial Information
Selling, general and administrative									(5)	(5)	(13)
Interest income									9	9	13
Equity in (loss) income of subsidiaries									(32)	222	32
Dividend income - affiliate									121	97	96
Net income (loss) attributable to Huntsman Corporation or Huntsman International LLC									$ 93	$ 323	$ 128

Schedule I - Condensed Finan119

Schedule I - Condensed Financial Information of Registrant (PARENT ONLY) (Details 3) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Information
Net income	$ 9	$ 63	$ 39	$ 15	$ (35)	$ 194	$ 124	$ 62	$ 126	$ 345	$ 149
Other comprehensive (loss) income, net of tax:
Foreign currency translations adjustments									(313)	(221)	(23)
Pension and other postretirement benefits adjustments									66	(271)	185
Other, net									7	1	10
Comprehensive (loss) income									(114)	(146)	321
Comprehensive (loss) income attributable to noncontrolling interests									(28)	(7)	(26)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									(142)	(153)	295
Huntsman Corporation
Condensed Financial Information
Net income									93	323	128
Other comprehensive (loss) income, net of tax:
Foreign currency translations adjustments									(313)	(221)	(23)
Pension and other postretirement benefits adjustments									66	(271)	185
Other, net									40	23	31
Other comprehensive (loss) income, net of tax									(207)	(469)	193
Comprehensive (loss) income									(114)	(146)	321
Comprehensive (loss) income attributable to noncontrolling interests									(28)	(7)	(26)
Comprehensive (loss) income attributable to Huntsman Corporation or Huntsman International LLC									$ (142)	$ (153)	$ 295

Schedule I - Condensed Finan120

Schedule I - Condensed Financial Information of Registrant (PARENT ONLY) (Details 4) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity
Balance				$ 1,778					$ 1,778
Net income	$ 4	$ 55	$ 29	$ 5	$ (38)	$ 188	$ 119	$ 54	93	$ 323	$ 128
Other comprehensive income									(240)	(491)	172
Vesting of stock awards									7	7	5
Recognition of stock-based compensation									26	24	21
Repurchase and cancellation of stock awards									(7)	(7)	(6)
Stock options exercised									1	48	13
Excess tax benefit related to stock-based compensation									1	1	1
Accrued and unpaid dividends										(1)	(2)
Cash paid for noncontrolling interest									(1)
Treasury stock repurchased									(100)
Dividends declared on common stock									(121)	(121)	$ (120)
Balance	$ 1,442				$ 1,778				$ 1,442	$ 1,778
Common stock
Increase (Decrease) in Stockholders' Equity
Balance (in shares)				243,416,979				240,401,442	243,416,979	240,401,442	238,273,422
Vesting of stock awards (in shares)									1,037,743	1,018,050	1,067,888
Repurchase and cancellation of stock awards (in shares)									(304,340)	(302,200)	(304,209)
Stock options exercised										$ 1
Stock options exercised (in shares)									48,572	2,299,687	1,364,341
Treasury stock repurchased (in shares)									(7,118,928)
Balance (in shares)	237,080,026				243,416,979				237,080,026	243,416,979	240,401,442
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity
Issuance of nonvested stock awards									$ 19	$ 15	$ 14
Vesting of stock awards									7	7	5
Recognition of stock-based compensation									10	10	8
Stock options exercised									1	47	13
Excess tax benefit related to stock-based compensation									1	1	1
Cash paid for noncontrolling interest									(1)
Treasury stock repurchased									(15)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Treasury stock repurchased									(85)
Unearned stock-based compensation
Increase (Decrease) in Stockholders' Equity
Issuance of nonvested stock awards									(19)	(15)	(14)
Recognition of stock-based compensation									16	14	13
Accumulated deficit
Increase (Decrease) in Stockholders' Equity
Repurchase and cancellation of stock awards									(7)	(7)	(6)
Accrued and unpaid dividends										(1)	(2)
Dividends declared on common stock									(121)	(121)	(120)
Accumulated other comprehensive (loss) income
Increase (Decrease) in Stockholders' Equity
Other comprehensive income									(235)	(476)	167
Huntsman Corporation
Increase (Decrease) in Stockholders' Equity
Balance				$ 1,778				$ 1,980	1,778	1,980	1,773
Net income									93	323	128
Other comprehensive income									(235)	(476)	167
Vesting of stock awards									7	7	5
Recognition of stock-based compensation									26	24	21
Repurchase and cancellation of stock awards									(7)	(7)	(6)
Stock options exercised									1	48	13
Excess tax benefit related to stock-based compensation									1	1	1
Accrued and unpaid dividends										(1)	(2)
Cash paid for noncontrolling interest									(1)
Treasury stock repurchased									(100)
Dividends declared on common stock									(121)	(121)	(120)
Balance	$ 1,442				$ 1,778				1,442	1,778	1,980
Huntsman Corporation | Common stock
Increase (Decrease) in Stockholders' Equity
Balance				$ 3				$ 2	$ 3	$ 2	$ 2
Balance (in shares)				243,416,979				240,401,442	243,416,979	240,401,442	238,273,422
Vesting of stock awards (in shares)									1,037,743	1,018,050	1,067,888
Repurchase and cancellation of stock awards (in shares)									(304,340)	(302,200)	(304,209)
Stock options exercised										$ 1
Stock options exercised (in shares)									48,572	2,299,687	1,364,341
Treasury stock repurchased (in shares)									(7,118,928)
Balance	$ 3				$ 3				$ 3	$ 3	$ 2
Balance (in shares)	237,080,026				243,416,979				237,080,026	243,416,979	240,401,442
Huntsman Corporation | Additional paid-in capital
Increase (Decrease) in Stockholders' Equity
Balance				$ 3,385				$ 3,305	$ 3,385	$ 3,305	$ 3,264
Issuance of nonvested stock awards									19	15	14
Vesting of stock awards									7	7	5
Recognition of stock-based compensation									10	10	8
Stock options exercised									1	47	13
Excess tax benefit related to stock-based compensation									1	1	1
Cash paid for noncontrolling interest									(1)
Treasury stock repurchased									(15)
Balance	$ 3,407				$ 3,385				3,407	3,385	3,305
Huntsman Corporation | Treasury stock
Increase (Decrease) in Stockholders' Equity
Balance				(50)				(50)	(50)	(50)	(50)
Treasury stock repurchased									(85)
Balance	(135)				(50)				(135)	(50)	(50)
Huntsman Corporation | Unearned stock-based compensation
Increase (Decrease) in Stockholders' Equity
Balance				(14)				(13)	(14)	(13)	(12)
Issuance of nonvested stock awards									(19)	(15)	(14)
Recognition of stock-based compensation									16	14	13
Balance	(17)				(14)				(17)	(14)	(13)
Huntsman Corporation | Accumulated deficit
Increase (Decrease) in Stockholders' Equity
Balance				(493)				(687)	(493)	(687)	(687)
Net income									93	323	128
Repurchase and cancellation of stock awards									(7)	(7)	(6)
Accrued and unpaid dividends										(1)	(2)
Dividends declared on common stock									(121)	(121)	(120)
Balance	(528)				(493)				(528)	(493)	(687)
Huntsman Corporation | Accumulated other comprehensive (loss) income
Increase (Decrease) in Stockholders' Equity
Balance				$ (1,053)				$ (577)	(1,053)	(577)	(744)
Other comprehensive income									(235)	(476)	167
Balance	$ (1,288)				$ (1,053)				$ (1,288)	$ (1,053)	$ (577)

Schedule I - Condensed Finan121

Schedule I - Condensed Financial Information of Registrant (PARENT ONLY) (Details 5) - USD ($) $ in Millions	3 Months Ended											12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Operating Activities:
Net income	$ 4		$ 55	$ 29	$ 5		$ (38)		$ 188	$ 119	$ 54	$ 93		$ 323		$ 128
Equity in loss (income) of subsidiaries												(6)		(6)		(8)
Stock-based compensation												30		28		29
Net cash provided by operating activities												575		760		708
Investing Activities:
Net cash provided by (used in) investing activities												(600)		(1,606)		(566)
Financing Activities:
Dividends paid to common stockholders	(30)		$ (31)	$ (31)	(31)		(30)		$ (31)	$ (30)	(30)	(121)		(121)		(120)
Repurchase and cancellation of stock awards												(7)		(7)		(6)
Proceeds from issuance of common stock												1		47		13
Repurchase of common stock												(100)
Other, net												(1)		4		3
Net cash (used in) provided by financing activities												(562)		1,197		(6)
(Decrease) increase in cash and cash equivalents												(603)		340		133
Cash and cash equivalents at beginning of period					860	[1]					520	860	[1]	520		387
Cash and cash equivalents at end of period	$ 257	[1]					860	[1]				257	[1]	860	[1]	520
Huntsman Corporation
Operating Activities:
Net income												93		323		128
Equity in loss (income) of subsidiaries												32		(222)		(32)
Stock-based compensation												1		1		1
Noncash interest (income) expense												(9)		(9)		6
Changes in operating assets and liabilities												8		9		63
Net cash provided by operating activities												125		102		166
Investing Activities:
Loan to affiliate												(195)				(177)
Repayments of loan by affiliate												148		122
Net cash provided by (used in) investing activities												(47)		122		(177)
Financing Activities:
Dividends paid to common stockholders												(121)		(121)		(120)
Repurchase and cancellation of stock awards												(7)		(7)		(6)
Proceeds from issuance of common stock												1		47		13
Repurchase of common stock												(100)
(Decrease) increase in payable to affiliates												(1)		2		(48)
Net cash (used in) provided by financing activities												(228)		(79)		(161)
(Decrease) increase in cash and cash equivalents												(150)		145		(172)
Cash and cash equivalents at beginning of period					$ 150						$ 5	$ 150		5		177
Cash and cash equivalents at end of period							$ 150							$ 150		$ 5
[1]	At December 31, 2015 and December 31, 2014, respectively, $34 and $46 of cash and cash equivalents, $12 and $10 of restricted cash, $26 and $41 of accounts and notes receivable (net), $54 and $68 of inventories, $5 and $6 of other current assets, $307 and $339 of property, plant and equipment (net), $36 and $40 of intangible assets (net), $38 and $27 of other noncurrent assets, $82 and $92 of accounts payable, $27 and $37 of accrued liabilities, $15 and $172 of current portion of debt, $137 and $36 of longterm debt, and $54 and $97 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See “Note 7. Variable Interest Entities.”

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for doubtful accounts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Valuation and Qualifying Accounts
Balance at beginning of period	$ 34	$ 42	$ 47
Charges (credits) to cost and expenses	1		2
Charged to other accounts	(9)	(8)	(7)
Balance at end of period	26	34	42
Huntsman International
Valuation and Qualifying Accounts
Balance at beginning of period	34	42	47
Charges (credits) to cost and expenses	1		2
Charged to other accounts	(9)	(8)	(7)
Balance at end of period	$ 26	$ 34	$ 42