Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 01, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001307954 | ||
Entity Registrant Name | Huntsman Corporation | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-32427 | ||
Entity Address, Address Line One | 10003 Woodloch Forest Drive | ||
Entity Address, City or Town | The Woodlands | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77380 | ||
City Area Code | 281 | ||
Local Phone Number | 719-6000 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 42-1648585 | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share | ||
Trading Symbol | HUN | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 3,796,763,992 | ||
Entity Common Stock, Shares Outstanding | 221,000,456 | ||
Huntsman International LLC [Member] | |||
Document Information [Line Items] | |||
Entity Central Index Key | 0001089748 | ||
Entity Registrant Name | Huntsman InternationalĀ LLC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Entity File Number | 333-85141 | ||
Entity Address, Address Line One | 10003 Woodloch Forest Drive | ||
Entity Address, City or Town | The Woodlands | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77380 | ||
City Area Code | 281 | ||
Local Phone Number | 719-6000 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 87-0630358 | ||
Title of 12(b) Security | NONE | ||
Trading Symbol | NONE | ||
Security Exchange Name | NONE | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Current assets: | |||
Cash and cash equivalents | [1] | $ 1,593 | $ 525 |
Accounts and notes receivable | [1] | 902 | 940 |
Accounts receivable from affiliates | 8 | 13 | |
Inventories | [1] | 848 | 914 |
Other current assets | 217 | 155 | |
Current assets held for sale | 0 | 1,208 | |
Total current assets | 3,568 | 3,755 | |
Property, plant and equipment, net | [1],[2] | 2,505 | 2,383 |
Investment in unconsolidated affiliates | 373 | 535 | |
Intangible assets, net | 453 | 197 | |
Goodwill | 533 | 276 | |
Deferred income taxes | 288 | 292 | |
Notes receivable from affiliate | 0 | 34 | |
Operating lease right-of-use assets | 445 | 396 | |
Other noncurrent assets | [1] | 548 | 452 |
Total assets | 8,713 | 8,320 | |
Current liabilities: | |||
Accounts payable | [1] | 842 | 765 |
Accounts payable to affiliates | 34 | 57 | |
Accrued liabilities | [1] | 458 | 420 |
Current portion of debt | [1] | 593 | 212 |
Current operating lease liabilities | [1] | 52 | 42 |
Current liabilities held for sale | 0 | 512 | |
Total current liabilities | 1,979 | 2,008 | |
Long-term debt | [1] | 1,528 | 2,177 |
Deferred income taxes | 212 | 29 | |
Noncurrent operating lease liabilities | [1] | 411 | 384 |
Other noncurrent liabilities | [1] | 910 | 898 |
Total liabilities | 5,040 | 5,496 | |
Commitments and contingencies (Notes 21 and 22) | |||
Common stock $0.01 par value, 1,200,000,000 shares authorized, 258,520,411 and 257,405,496 shares issued and 220,046,262 and 224,295,868 shares outstanding, respectively | 3 | 3 | |
Additional paid-in capital | 4,048 | 4,008 | |
Treasury stock, 38,477,091 and 33,112,572 shares, respectively | (731) | (635) | |
Unearned stock-based compensation | (19) | (17) | |
Retained earnings | 1,564 | 690 | |
Accumulated other comprehensive loss | (1,346) | (1,362) | |
Total Huntsman Corporation stockholdersā equity | 3,519 | 2,687 | |
Noncontrolling interests in subsidiaries | 154 | 137 | |
Total equity | 3,673 | 2,824 | |
Total liabilities and equity | 8,713 | 8,320 | |
Huntsman International LLC [Member] | |||
Current assets: | |||
Cash and cash equivalents | [3] | 1,591 | 525 |
Accounts and notes receivable | [3] | 902 | 940 |
Accounts receivable from affiliates | 47 | 410 | |
Inventories | [3] | 848 | 914 |
Other current assets | 223 | 161 | |
Current assets held for sale | 0 | 1,208 | |
Total current assets | 3,611 | 4,158 | |
Property, plant and equipment, net | [3] | 2,505 | 2,383 |
Investment in unconsolidated affiliates | 373 | 535 | |
Intangible assets, net | 453 | 197 | |
Goodwill | 533 | 276 | |
Deferred income taxes | 288 | 292 | |
Notes receivable from affiliate | 0 | 34 | |
Operating lease right-of-use assets | 445 | 396 | |
Other noncurrent assets | [3] | 548 | 452 |
Total assets | 8,756 | 8,723 | |
Current liabilities: | |||
Accounts payable | [3] | 842 | 765 |
Accounts payable to affiliates | 36 | 143 | |
Accrued liabilities | [3] | 455 | 417 |
Current portion of debt | [3] | 593 | 212 |
Current operating lease liabilities | [3] | 52 | 42 |
Current liabilities held for sale | 0 | 512 | |
Total current liabilities | 1,978 | 2,191 | |
Long-term debt | [3] | 1,528 | 2,177 |
Deferred income taxes | 214 | 29 | |
Noncurrent operating lease liabilities | [3] | 411 | 384 |
Other noncurrent liabilities | [3] | 900 | 890 |
Total liabilities | 5,031 | 5,951 | |
Retained earnings | 1,203 | 312 | |
Accumulated other comprehensive loss | (1,333) | (1,352) | |
Total equity | 3,725 | 2,772 | |
Total liabilities and equity | 8,756 | 8,723 | |
Notes payable to affiliates | 0 | 100 | |
Notes payable to affiliates | 0 | 280 | |
Membersā equity, 2,728 units issued and outstanding | 3,701 | 3,675 | |
Total Huntsman International LLC membersā equity | 3,571 | 2,635 | |
Noncontrolling interests in subsidiaries | 154 | 137 | |
Total equity | $ 3,725 | $ 2,772 | |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||
[2] | Long-lived assets consist of property, plant and equipment, net. | ||
[3] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash and cash equivalents | [1] | $ 1,593,000 | $ 525,000 |
Accounts and notes receivable, allowance for doubtful accounts | 26,000 | 19,000 | |
Accounts and notes receivable, pledged as collateral | 198,000 | 221,000 | |
Accounts and notes receivable | [1] | 902,000 | 940,000 |
Inventories | [1] | 848,000 | 914,000 |
Property, plant and equipment, net | [1],[2] | 2,505,000 | 2,383,000 |
Other noncurrent assets | [1] | 548,000 | 452,000 |
Accounts payable | [1] | 842,000 | 765,000 |
Accrued liabilities | [1] | 458,000 | 420,000 |
Current portion of debt | [1] | 593,000 | 212,000 |
Current operating lease liabilities | [1] | 52,000 | 42,000 |
Long-term debt | [1] | 1,528,000 | 2,177,000 |
Noncurrent operating lease liabilities | [1] | 411,000 | 384,000 |
Other noncurrent liabilities | [1] | $ 910,000 | $ 898,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock, shares authorized (in shares) | 1,200,000,000 | 1,200,000,000 | |
Common stock, shares issued (in shares) | 258,520,411 | 257,405,496 | |
Common stock, shares outstanding (in shares) | 220,046,262 | 224,295,868 | |
Treasury stock, shares (in shares) | 38,477,091 | 33,112,572 | |
Huntsman International LLC [Member] | |||
Cash and cash equivalents | [3] | $ 1,591,000 | $ 525,000 |
Accounts and notes receivable, allowance for doubtful accounts | 26,000 | 19,000 | |
Accounts and notes receivable, pledged as collateral | 198,000 | 221,000 | |
Accounts and notes receivable | [3] | 902,000 | 940,000 |
Inventories | [3] | 848,000 | 914,000 |
Property, plant and equipment, net | [3] | 2,505,000 | 2,383,000 |
Other noncurrent assets | [3] | 548,000 | 452,000 |
Accounts payable | [3] | 842,000 | 765,000 |
Accrued liabilities | [3] | 455,000 | 417,000 |
Current portion of debt | [3] | 593,000 | 212,000 |
Current operating lease liabilities | [3] | 52,000 | 42,000 |
Long-term debt | [3] | 1,528,000 | 2,177,000 |
Noncurrent operating lease liabilities | [3] | 411,000 | 384,000 |
Other noncurrent liabilities | [3] | $ 900,000 | $ 890,000 |
Members' equity, units issued (in shares) | 2,728 | 2,728 | |
Members' equity, units outstanding (in shares) | 2,728 | 2,728 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Cash and cash equivalents | $ 2,000 | $ 0 | |
Accounts and notes receivable | 6,000 | 13,000 | |
Inventories | 38,000 | 35,000 | |
Property, plant and equipment, net | 167,000 | 180,000 | |
Other noncurrent assets | 23,000 | 20,000 | |
Accounts payable | 119,000 | 100,000 | |
Accrued liabilities | 13,000 | 10,000 | |
Current portion of debt | 47,000 | 36,000 | |
Current operating lease liabilities | 5,000 | 4,000 | |
Long-term debt | 3,000 | 29,000 | |
Noncurrent operating lease liabilities | 17,000 | 11,000 | |
Other noncurrent liabilities | 82,000 | 87,000 | |
Variable Interest Entity, Primary Beneficiary [Member] | Huntsman International LLC [Member] | |||
Cash and cash equivalents | 2,000 | 0 | |
Accounts and notes receivable | 6,000 | 13,000 | |
Inventories | 38,000 | 35,000 | |
Property, plant and equipment, net | 167,000 | 180,000 | |
Other noncurrent assets | 23,000 | 20,000 | |
Accounts payable | 119,000 | 100,000 | |
Accrued liabilities | 13,000 | 10,000 | |
Current portion of debt | 47,000 | 36,000 | |
Current operating lease liabilities | 5,000 | 4,000 | |
Long-term debt | 3,000 | 29,000 | |
Noncurrent operating lease liabilities | 17,000 | 11,000 | |
Other noncurrent liabilities | $ 82,000 | $ 87,000 | |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||
[2] | Long-lived assets consist of property, plant and equipment, net. | ||
[3] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Total revenues | [1] | $ 6,018 | $ 6,797 | $ 7,604 |
Cost of goods sold | 4,918 | 5,415 | 5,840 | |
Gross profit | 1,100 | 1,382 | 1,764 | |
Operating expenses: | ||||
Selling, general and administrative | 775 | 786 | 789 | |
Research and development | 135 | 137 | 145 | |
Restructuring, impairment and plant closing costs (credits) | 49 | (41) | (7) | |
Merger costs | 0 | 0 | 2 | |
Gain on sale of India-based DIY business | (247) | 0 | 0 | |
Other operating (income) expense, net | (45) | 31 | 8 | |
Total operating expenses | 667 | 913 | 937 | |
Operating income | 433 | 469 | 827 | |
Interest expense, net | (86) | (111) | (115) | |
Equity in income of investment in unconsolidated affiliates | 42 | 54 | 55 | |
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Loss on early extinguishment of debt | 0 | (23) | (3) | |
Other income, net | 36 | 20 | 32 | |
Income from continuing operations before income taxes | 337 | 391 | 734 | |
Income tax (expense) benefit | (46) | 38 | (45) | |
Income from continuing operations | 291 | 429 | 689 | |
Income (loss) from discontinued operations, net of tax | 775 | 169 | (39) | |
Net income | 1,066 | 598 | 650 | |
Net income attributable to noncontrolling interests | (32) | (36) | (313) | |
Net (loss) income | $ 1,034 | $ 562 | $ 337 | |
Basic income (loss) per share: | ||||
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) | $ 1.18 | $ 1.72 | $ 2.55 | |
Income (loss) from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) | 3.51 | 0.74 | (1.13) | |
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) | $ 4.69 | $ 2.46 | $ 1.42 | |
Weighted average shares (in shares) | 220.6 | 228.9 | 238.1 | |
Diluted income (loss) per share: | ||||
Income from continuing operations attributable to Huntsman Corporation common stockholders (in dollars per share) | $ 1.17 | $ 1.70 | $ 2.52 | |
Income (loss) from discontinued operations attributable to Huntsman Corporation common stockholders, net of tax (in dollars per share) | 3.49 | 0.74 | (1.13) | |
Net income attributable to Huntsman Corporation common stockholders (in dollars per share) | $ 4.66 | $ 2.44 | $ 1.39 | |
Weighted average shares (in shares) | 221.9 | 230.6 | 241.6 | |
Amounts attributable to Huntsman Corporation common stockholders: | ||||
Income from continuing operations | $ 259 | $ 393 | $ 608 | |
Income (loss) from discontinued operations, net of tax | 775 | 169 | (271) | |
Net income | 1,034 | 562 | 337 | |
Third Party Customers [Member] | ||||
Total revenues | 5,903 | 6,664 | 7,451 | |
Related Party Customers [Member] | ||||
Total revenues | $ 115 | $ 133 | $ 153 | |
[1] | Geographic information for revenues is based upon countries into which product is sold. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 1,066 | $ 598 | $ 650 |
Other comprehensive loss, net of tax: | |||
Foreign currency translations adjustments | 41 | 2 | (192) |
Pension and other postretirement benefits adjustments | (19) | (37) | (39) |
Other, net | 0 | (1) | (9) |
Other comprehensive loss, net of tax | 22 | (36) | (240) |
Comprehensive income | 1,088 | 562 | 410 |
Comprehensive income attributable to noncontrolling interests | (38) | (31) | (266) |
Comprehensive income | 1,050 | 531 | 144 |
Net income | 1,066 | 598 | 650 |
Huntsman International LLC [Member] | |||
Net income | 1,067 | 587 | 636 |
Other comprehensive loss, net of tax: | |||
Foreign currency translations adjustments | 41 | 2 | (194) |
Pension and other postretirement benefits adjustments | (16) | (35) | (37) |
Other, net | 0 | (1) | (6) |
Other comprehensive loss, net of tax | 25 | (34) | (237) |
Comprehensive income | 1,092 | 553 | 399 |
Comprehensive income attributable to noncontrolling interests | (38) | (31) | (266) |
Comprehensive income | 1,054 | 522 | 133 |
Net income | $ 1,067 | $ 587 | $ 636 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Millions | Huntsman International LLC [Member]Common Stock Outstanding [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Huntsman International LLC [Member]Common Stock Outstanding [Member] | Huntsman International LLC [Member]Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Huntsman International LLC [Member]Common Stock [Member] | Huntsman International LLC [Member]Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Huntsman International LLC [Member]Retained Earnings [Member] | Huntsman International LLC [Member]AOCI Attributable to Parent [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Huntsman International LLC [Member]AOCI Attributable to Parent [Member] | Huntsman International LLC [Member]Noncontrolling Interest [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Huntsman International LLC [Member]Noncontrolling Interest [Member] | Huntsman International LLC [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Huntsman International LLC [Member] | Common Stock Outstanding [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock Outstanding [Member] | Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Noncontrolling Interest [Member] | Additional Paid-in Capital [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Treasury Stock [Member] | Deferred Compensation, Share-based Payments [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Deferred Compensation, Share-based Payments [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 0 | 2,728 | 0 | 240,213,606 | ||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 0 | $ 3,616 | $ 10 | $ (270) | $ (10) | $ (1,263) | $ 0 | $ 751 | $ 0 | $ 2,834 | $ 0 | $ 3 | $ 10 | $ 161 | $ (10) | $ (1,268) | $ 0 | $ 751 | $ 0 | $ 3,889 | $ 0 | $ (150) | $ 0 | $ (15) | $ 0 | $ 3,371 | ||||
Net income | 0 | 323 | 0 | 313 | 636 | 0 | 337 | 0 | 313 | 0 | 0 | 0 | 650 | |||||||||||||||||
Other comprehensive loss | 0 | 0 | (195) | (42) | (237) | 0 | 0 | (198) | (42) | 0 | 0 | 0 | (240) | |||||||||||||||||
Issuance of nonvested stock awards | 0 | 0 | 0 | 0 | 14 | 0 | (14) | 0 | ||||||||||||||||||||||
Vesting of stock awards (in shares) | 1,135,003 | |||||||||||||||||||||||||||||
Vesting of stock awards | 0 | 0 | 0 | 0 | 11 | 0 | 0 | 11 | ||||||||||||||||||||||
Recognition of stock-based compensation | 0 | 0 | 0 | 0 | 8 | 0 | 13 | 21 | ||||||||||||||||||||||
Repurchase and cancellation of stock awards (in shares) | 0 | (259,643) | ||||||||||||||||||||||||||||
Repurchase and cancellation of stock awards | 0 | (30) | 0 | 0 | 0 | 0 | 0 | (30) | ||||||||||||||||||||||
Stock options exercised (in shares) | 0 | 2,310,663 | ||||||||||||||||||||||||||||
Stock options exercised | 0 | (29) | 0 | 0 | 46 | 0 | 0 | 17 | ||||||||||||||||||||||
Treasury stock repurchased (in shares) | 0 | (10,405,457) | ||||||||||||||||||||||||||||
Treasury stock repurchased | 0 | 0 | 0 | 0 | 0 | (277) | 0 | (277) | ||||||||||||||||||||||
Disposition of a portion of Venator | 18 | 0 | 0 | 0 | 18 | 0 | 0 | 0 | 0 | 18 | 0 | 0 | 18 | |||||||||||||||||
Costs of the secondary offering of Venator | (2) | 0 | 0 | 0 | (2) | 0 | 0 | 0 | 0 | (2) | 0 | 0 | (2) | |||||||||||||||||
Noncontrolling interest from partial disposal of Venator | 0 | 0 | 0 | 27 | 27 | 0 | 0 | 0 | 27 | 0 | 0 | 0 | 27 | |||||||||||||||||
Deconsolidation of Venator | 0 | 0 | 160 | (751) | (591) | 0 | 0 | 160 | (751) | 0 | 0 | 0 | (591) | |||||||||||||||||
Accrued and unpaid dividends | 0 | (1) | 0 | 0 | 0 | 0 | 0 | (1) | ||||||||||||||||||||||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | (69) | (69) | 0 | 0 | 0 | (69) | 0 | 0 | 0 | (69) | |||||||||||||||||
Dividends declared on common stock ($0.65 per share) | 0 | (156) | 0 | 0 | 0 | 0 | 0 | (156) | ||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 2,728 | 232,994,172 | ||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | 3,658 | (91) | (1,308) | 229 | 2,488 | 3 | 292 | (1,316) | 229 | 3,984 | (427) | (16) | 2,749 | |||||||||||||||||
Dividends paid to parent | 0 | (154) | 0 | 0 | (154) | |||||||||||||||||||||||||
Contribution from parent | 26 | 0 | 0 | 0 | 26 | |||||||||||||||||||||||||
Net income | 0 | 551 | 0 | 36 | 587 | 0 | 562 | 0 | 36 | 0 | 0 | 0 | 598 | |||||||||||||||||
Other comprehensive loss | 0 | 0 | (44) | 10 | (34) | 0 | 0 | (46) | 10 | 0 | 0 | 0 | (36) | |||||||||||||||||
Issuance of nonvested stock awards | 0 | 0 | 0 | 0 | 17 | 0 | (17) | 0 | ||||||||||||||||||||||
Vesting of stock awards (in shares) | 1,643,368 | |||||||||||||||||||||||||||||
Vesting of stock awards | 28 | 0 | 0 | 0 | 28 | 0 | 0 | 0 | 0 | 7 | 0 | 0 | 7 | |||||||||||||||||
Recognition of stock-based compensation | 0 | 0 | 0 | 0 | 7 | 0 | 16 | 23 | ||||||||||||||||||||||
Repurchase and cancellation of stock awards (in shares) | (488,441) | |||||||||||||||||||||||||||||
Repurchase and cancellation of stock awards | 0 | (12) | 0 | 0 | 0 | 0 | 0 | (12) | ||||||||||||||||||||||
Stock options exercised (in shares) | 246,661 | |||||||||||||||||||||||||||||
Stock options exercised | 0 | (2) | 0 | 0 | 4 | 0 | 0 | 2 | ||||||||||||||||||||||
Treasury stock repurchased (in shares) | (10,099,892) | |||||||||||||||||||||||||||||
Treasury stock repurchased | 0 | 0 | 0 | 0 | 0 | (208) | 0 | (208) | ||||||||||||||||||||||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | (65) | (65) | 0 | 0 | 0 | (65) | 0 | 0 | 0 | (65) | |||||||||||||||||
Dividends declared on common stock ($0.65 per share) | 0 | (150) | 0 | 0 | 0 | 0 | 0 | (150) | ||||||||||||||||||||||
Acquisition of noncontrolling interests, net of tax | (11) | 0 | 0 | (73) | (84) | 0 | 0 | 0 | (73) | (11) | 0 | 0 | $ (84) | |||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 2,728 | 224,295,868 | 224,295,868 | |||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | 3,675 | 312 | (1,352) | 137 | 2,772 | 3 | 690 | (1,362) | 137 | 4,008 | (635) | (17) | $ 2,824 | |||||||||||||||||
Dividends paid to parent | 0 | (148) | 0 | 0 | (148) | |||||||||||||||||||||||||
Net income | 0 | 1,035 | 0 | 32 | 1,067 | 0 | 1,034 | 0 | 32 | 0 | 0 | 0 | 1,066 | |||||||||||||||||
Other comprehensive loss | 0 | 0 | 19 | 6 | 25 | 0 | 0 | 16 | 6 | 0 | 0 | 0 | 22 | |||||||||||||||||
Issuance of nonvested stock awards | 0 | 0 | 0 | 0 | 18 | 0 | (18) | 0 | ||||||||||||||||||||||
Vesting of stock awards | 26 | 0 | 0 | 0 | 26 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 5 | |||||||||||||||||
Recognition of stock-based compensation | 0 | 0 | 0 | 0 | 7 | 0 | 16 | 23 | ||||||||||||||||||||||
Repurchase and cancellation of stock awards (in shares) | (287,247) | |||||||||||||||||||||||||||||
Repurchase and cancellation of stock awards | 0 | (8) | 0 | 0 | 0 | 0 | 0 | $ (8) | ||||||||||||||||||||||
Stock options exercised (in shares) | 441,754 | 829,000 | ||||||||||||||||||||||||||||
Stock options exercised | 0 | (7) | 0 | 0 | 10 | 0 | 0 | $ 3 | ||||||||||||||||||||||
Treasury stock repurchased | 0 | 0 | 0 | 0 | 0 | (96) | 0 | (96) | ||||||||||||||||||||||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | (21) | (21) | 0 | 0 | 0 | (21) | 0 | 0 | 0 | (21) | |||||||||||||||||
Dividends declared on common stock ($0.65 per share) | 0 | (145) | 0 | 0 | 0 | 0 | 0 | $ (145) | ||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 2,728 | 220,046,262 | 220,046,262 | |||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | 3,701 | 1,203 | (1,333) | 154 | 3,725 | $ 3 | $ 1,564 | $ (1,346) | $ 154 | $ 4,048 | $ (731) | $ (19) | $ 3,673 | |||||||||||||||||
Dividends paid to parent | $ 0 | $ (144) | $ 0 | $ 0 | $ (144) |
Consolidated Statements of Eq_2
Consolidated Statements of Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividends declared on common stock, per share (in dollars per share) | $ 0.65 | $ 0.65 | $ 0.65 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Operating Activities: | ||||
Net income | $ 1,066 | $ 598 | $ 650 | |
Less: (Income) loss from discontinued operations, net of tax | (775) | (169) | 39 | |
Income from continuing operations | 291 | 429 | 689 | |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations: | ||||
Equity in income of investment in unconsolidated affiliates | (42) | (54) | (55) | |
Unrealized losses on fair value adjustments to Venator investment and related loss on disposal | 88 | 19 | 62 | |
Cash received from return on investment in unconsolidated subsidiary | 19 | 24 | 0 | |
Depreciation and amortization | 283 | 270 | 255 | |
Noncash lease expense | 63 | 55 | 0 | |
(Gain) loss on disposal of businesses/assets | (281) | (49) | 3 | |
Loss on early extinguishment of debt | 0 | 23 | 3 | |
Noncash restructuring and impairment charges (credits) | 7 | 3 | (22) | |
Deferred income taxes | 172 | (93) | (167) | |
Stock-based compensation | 27 | 29 | 27 | |
Other, net | 8 | 20 | 3 | |
Changes in operating assets and liabilities: | ||||
Accounts and notes receivable | 100 | 138 | (22) | |
Inventories | 145 | 77 | (80) | |
Prepaid expenses | (10) | (27) | (9) | |
Other current assets | (55) | 53 | 59 | |
Other noncurrent assets | (55) | (90) | (41) | |
Accounts payable | 32 | 21 | 12 | |
Accrued liabilities | (126) | (50) | 44 | |
Taxes paid on Chemical Intermediates Businesses | (231) | 0 | 0 | |
Other noncurrent liabilities | (158) | (142) | (57) | |
Net cash provided by operating activities from continuing operations | 277 | 656 | 704 | |
Net cash (used in) provided by operating activities from discontinued operations | (24) | 241 | 503 | |
Net cash provided by operating activities | 253 | 897 | 1,207 | |
Investing Activities: | ||||
Capital expenditures | (249) | (274) | (251) | |
Cash received from sale of businesses | 2,181 | 0 | 0 | |
Cash received from the sale of Venator shares | 99 | 0 | 0 | |
Acquisition of businesses, net of cash acquired | (650) | 0 | (366) | |
Proceeds from sale of assets | 75 | 50 | 0 | |
Cash received from forward swap contract related to the sale of investment in Venator | 0 | 16 | 3 | |
Other | 6 | 7 | (1) | |
Net cash provided by (used in) investing activities from continuing operations | 1,462 | (201) | (615) | |
Net cash provided by (used in) investing activities from discontinued operations | 1 | (59) | (358) | |
Net cash provided by (used in) investing activities | 1,463 | (260) | (973) | |
Financing Activities: | ||||
Net (repayments) borrowings on revolving loan facilities | (203) | (89) | 125 | |
Repayments of long-term debt | (21) | (676) | (68) | |
Proceeds from issuance of long-term debt | 0 | 742 | 0 | |
Repayments of short-term debt | (109) | 0 | (8) | |
Borrowings on short-term debt | 0 | 102 | 6 | |
Repayments of notes payable | (32) | (27) | (29) | |
Borrowings on note payable | 0 | 37 | 27 | |
Debt issuance costs paid | 0 | (8) | (4) | |
Costs of early extinguishment of debt | 0 | (21) | 0 | |
Dividends paid to common stockholders | (144) | (150) | (156) | |
Dividends paid to noncontrolling interests | (44) | (41) | (69) | |
Cash paid for noncontrolling interest | 0 | (101) | 0 | |
Repurchase of common stock | (96) | (208) | (277) | |
Repurchase and cancellation of stock awards | (8) | (12) | (30) | |
Proceeds from issuance of common stock | 3 | 2 | 17 | |
Proceeds from the secondary offering of Venator | 0 | 0 | 44 | |
Other | (1) | 0 | (2) | |
Net cash used in financing activities | (655) | (450) | (424) | |
Effect of exchange rate changes on cash | 7 | (2) | (35) | |
Increase (decrease) in cash, cash equivalents and restricted cash | 1,068 | 185 | (225) | |
Cash, cash equivalents and restricted cash from continuing operations at beginning of period | 525 | 340 | 481 | |
Cash, cash equivalents and restricted cash from discontinued operations at beginning of period | 0 | 0 | 238 | |
Deconsolidation of cash, cash equivalents and restricted cash from Venator | 0 | 0 | (154) | |
Cash, cash equivalents and restricted cash at end of period | 1,593 | 525 | 340 | |
Supplemental cash flow information: | ||||
Cash paid for interest | 90 | 111 | 163 | |
Cash paid for income taxes | 316 | 100 | 179 | |
Revenues: | ||||
Total revenues | [1] | 6,018 | 6,797 | 7,604 |
Cost of goods sold | 4,918 | 5,415 | 5,840 | |
Gross profit | 1,100 | 1,382 | 1,764 | |
Operating expenses: | ||||
Selling, general and administrative | 775 | 786 | 789 | |
Research and development | 135 | 137 | 145 | |
Restructuring, impairment and plant closing costs (credits) | 49 | (41) | (7) | |
Merger costs | 0 | 0 | 2 | |
Gain on sale of India-based DIY business | (247) | 0 | 0 | |
Other operating (income) expense, net | (45) | 31 | 8 | |
Total operating expenses | 667 | 913 | 937 | |
Operating income | 433 | 469 | 827 | |
Interest expense, net | (86) | (111) | (115) | |
Equity in income of investment in unconsolidated affiliates | 42 | 54 | 55 | |
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Loss on early extinguishment of debt | 0 | (23) | (3) | |
Other income, net | 36 | 20 | 32 | |
Income from continuing operations before income taxes | 337 | 391 | 734 | |
Income tax (expense) benefit | (46) | 38 | (45) | |
Income from continuing operations | 291 | 429 | 689 | |
Income (loss) from discontinued operations, net of tax | 775 | 169 | (39) | |
Net income | 1,066 | 598 | 650 | |
Net income attributable to noncontrolling interests | (32) | (36) | (313) | |
Net (loss) income | 1,034 | 562 | 337 | |
Huntsman International LLC [Member] | ||||
Operating Activities: | ||||
Net income | 1,067 | 587 | 636 | |
Less: (Income) loss from discontinued operations, net of tax | (775) | (169) | 39 | |
Income from continuing operations | 292 | 418 | 675 | |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations: | ||||
Equity in income of investment in unconsolidated affiliates | (42) | (54) | (55) | |
Unrealized losses on fair value adjustments to Venator investment and related loss on disposal | 88 | 19 | 62 | |
Cash received from return on investment in unconsolidated subsidiary | 19 | 24 | 0 | |
Depreciation and amortization | 283 | 270 | 252 | |
Noncash lease expense | 63 | 55 | 0 | |
(Gain) loss on disposal of businesses/assets | (281) | (49) | 3 | |
Loss on early extinguishment of debt | 0 | 23 | 3 | |
Noncash restructuring and impairment charges (credits) | 7 | 3 | (22) | |
Deferred income taxes | 172 | (91) | (172) | |
Other, net | 8 | 36 | 26 | |
Noncash compensation | 26 | 28 | 26 | |
Changes in operating assets and liabilities: | ||||
Accounts and notes receivable | 100 | 138 | (23) | |
Inventories | 145 | 77 | (80) | |
Prepaid expenses | (9) | (27) | (8) | |
Other current assets | (56) | 48 | 59 | |
Other noncurrent assets | (55) | (90) | (41) | |
Accounts payable | 30 | 7 | (9) | |
Accrued liabilities | (126) | (51) | 44 | |
Taxes paid on Chemical Intermediates Businesses | (231) | 0 | 0 | |
Other noncurrent liabilities | (154) | (139) | (53) | |
Net cash provided by operating activities from continuing operations | 279 | 645 | 687 | |
Net cash (used in) provided by operating activities from discontinued operations | (24) | 241 | 503 | |
Net cash provided by operating activities | 255 | 886 | 1,190 | |
Investing Activities: | ||||
Capital expenditures | (249) | (274) | (251) | |
Cash received from sale of businesses | 2,181 | 0 | 0 | |
Cash received from the sale of Venator shares | 99 | 0 | 0 | |
Acquisition of businesses, net of cash acquired | (650) | 0 | (366) | |
Proceeds from sale of assets | 75 | 50 | 0 | |
Cash received from forward swap contract related to the sale of investment in Venator | 0 | 16 | 3 | |
Other | 7 | 7 | 0 | |
Net cash provided by (used in) investing activities from continuing operations | 1,736 | (202) | (630) | |
Net cash provided by (used in) investing activities from discontinued operations | 1 | (59) | (358) | |
Net cash provided by (used in) investing activities | 1,737 | (261) | (988) | |
Increase in receivable from affiliate | 273 | (1) | (16) | |
Financing Activities: | ||||
Net (repayments) borrowings on revolving loan facilities | (203) | (89) | 125 | |
Repayments of long-term debt | (21) | (676) | (68) | |
Proceeds from issuance of long-term debt | 0 | 742 | 0 | |
Repayments of short-term debt | (109) | 0 | (8) | |
Borrowings on short-term debt | 0 | 102 | 6 | |
Repayments of notes payable | (32) | (27) | (29) | |
Borrowings on note payable | 0 | 37 | 27 | |
Debt issuance costs paid | 0 | (8) | (4) | |
Costs of early extinguishment of debt | 0 | (21) | 0 | |
Dividends paid to noncontrolling interests | (44) | (41) | (69) | |
Cash paid for noncontrolling interest | 0 | (101) | 0 | |
Proceeds from the secondary offering of Venator | 0 | 0 | 44 | |
Other | 0 | (1) | (5) | |
Net cash used in financing activities | (933) | (438) | (390) | |
Effect of exchange rate changes on cash | 7 | (2) | (35) | |
Increase (decrease) in cash, cash equivalents and restricted cash | 1,066 | 185 | (223) | |
Cash, cash equivalents and restricted cash from continuing operations at beginning of period | 525 | 340 | 479 | |
Cash, cash equivalents and restricted cash from discontinued operations at beginning of period | 0 | 0 | 238 | |
Deconsolidation of cash, cash equivalents and restricted cash from Venator | 0 | 0 | (154) | |
Cash, cash equivalents and restricted cash at end of period | 1,591 | 525 | 340 | |
Repayments of notes payable to affiliate | (380) | (207) | (255) | |
Dividends paid to parent | (144) | (148) | (154) | |
Supplemental cash flow information: | ||||
Cash paid for interest | 90 | 111 | 163 | |
Cash paid for income taxes | 316 | 100 | 179 | |
Revenues: | ||||
Total revenues | 6,018 | 6,797 | 7,604 | |
Cost of goods sold | 4,918 | 5,415 | 5,837 | |
Gross profit | 1,100 | 1,382 | 1,767 | |
Operating expenses: | ||||
Selling, general and administrative | 769 | 781 | 784 | |
Research and development | 135 | 137 | 145 | |
Restructuring, impairment and plant closing costs (credits) | 49 | (41) | (7) | |
Merger costs | 0 | 0 | 2 | |
Gain on sale of India-based DIY business | (247) | 0 | 0 | |
Other operating (income) expense, net | (45) | 31 | 8 | |
Total operating expenses | 661 | 908 | 932 | |
Operating income | 439 | 474 | 835 | |
Interest expense, net | (88) | (126) | (136) | |
Equity in income of investment in unconsolidated affiliates | 42 | 54 | 55 | |
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Loss on early extinguishment of debt | 0 | (23) | (3) | |
Other income, net | 33 | 16 | 27 | |
Income from continuing operations before income taxes | 338 | 377 | 716 | |
Income tax (expense) benefit | (46) | 41 | (41) | |
Income from continuing operations | 292 | 418 | 675 | |
Income (loss) from discontinued operations, net of tax | 775 | 169 | (39) | |
Net income | 1,067 | 587 | 636 | |
Net income attributable to noncontrolling interests | (32) | (36) | (313) | |
Net (loss) income | 1,035 | 551 | 323 | |
Third Party Customers [Member] | ||||
Revenues: | ||||
Total revenues | 5,903 | 6,664 | 7,451 | |
Third Party Customers [Member] | Huntsman International LLC [Member] | ||||
Revenues: | ||||
Total revenues | 5,903 | 6,664 | 7,451 | |
Related Party Customers [Member] | ||||
Revenues: | ||||
Total revenues | 115 | 133 | 153 | |
Related Party Customers [Member] | Huntsman International LLC [Member] | ||||
Revenues: | ||||
Total revenues | $ 115 | $ 133 | $ 153 | |
[1] | Geographic information for revenues is based upon countries into which product is sold. |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Capital Expenditures Incurred but Not yet Paid | $ 76 | $ 64 | $ 66 |
Venator Materials PLC [Member] | |||
Interest Paid, Net By Separated Business After Initial Public Offering Date | 46 | ||
Income Taxes Paid, Net By Separated Business After Initial Public Offering Date | 38 | ||
Chemical Intermediates Businesses [Member] | |||
Income Taxes Paid Related to the Sale of a Business | 231 | ||
India-Based Do It Yourself Consumer Adhesives Business [Member] | |||
Income Taxes Paid Related to the Sale of a Business | 26 | ||
Huntsman International LLC [Member] | |||
Capital Expenditures Incurred but Not yet Paid | 74 | 64 | $ 66 |
Huntsman International LLC [Member] | Venator Materials PLC [Member] | |||
Interest Paid, Net By Separated Business After Initial Public Offering Date | 46 | ||
Income Taxes Paid, Net By Separated Business After Initial Public Offering Date | $ 38 | ||
Huntsman International LLC [Member] | Chemical Intermediates Businesses [Member] | |||
Income Taxes Paid Related to the Sale of a Business | 231 | ||
Huntsman International LLC [Member] | India-Based Do It Yourself Consumer Adhesives Business [Member] | |||
Income Taxes Paid Related to the Sale of a Business | $ 26 |
Note 1 - General
Note 1 - General | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. GENERAL D efinitions For convenience in this report, the terms āCompany,ā āourā or āweā may three In this report, we may may D escription of usiness We are a global manufacturer of differentiated organic chemical products. We operate in four C ompany Our Company, a Delaware corporation, was formed in 2004 1970 Currently, we operate all of our businesses through Huntsman International, our wholly-owned subsidiary. Huntsman International is a Delaware limited liability company and was formed in 1999. R ecent evelopments COVID- 19 The outbreak of the COVID- 19 March 2020, 19 December 31, 2020, not 19 second 2020, second 2020, 19 19 may In response to the impact of COVID- 19, may ā suspended merit and general wage increases that customarily would have occurred at the end of the first 2020; ā implemented a temporary hiring freeze for all non-business critical positions; ā accelerated integration efforts related to the Icynene-Lapolla and CVC Thermoset Specialties acquisitions in order to more expeditiously capture related synergies; ā implemented restructuring programs in our Polyurethanes segment to reorganize our spray polyurethane foam business to better position this business for efficiencies and growth in coming years and to optimize our downstream footprint; ā implemented a restructuring program in our Performance Products segment, primarily related to workforce reductions, in response to the sale of our Chemical Intermediates Businesses to Indorama; ā implemented restructuring programs in our Advanced Materials segment, primarily related to workforce reductions in connection with the CVC Thermoset Specialties Acquisition and the alignment of the segmentās commercial organization and optimization of the segmentās manufacturing processes; and ā implemented restructuring programs in our Textile Effects segment to rationalize and realign structurally across various functions and certain locations within the segment. For more information regarding our 2020 13. Redemption of the 2021 On January 15, 2021, ā¬ 445 2021 not Acquisition of Gabriel Performance Products On January 15, 2021, Sale of Assets at our Basel, Switzerland Site In November 2020, five Sale of India-Based Do-It-Yourself Consumer Adhesives Business On November 3, 2020, may 2019 fourth 2020, Sale of Venator Interest On December 23, 2020, 4. Concurrently with the sale of Venator ordinary shares, we entered into an option agreement, pursuant to which we granted an option to funds advised by SK Capital Partners, LP to purchase the remaining approximate 9.7 million ordinary shares we hold in Venator at $2.15 per share. The option will expire on June 23, 2023 not In connection with the 2017 December 2020. Other Significant Developments During 2020 Other significant developments that occurred during 2020 ā In May 2020, 3. ā In February 2020, 3. ā In January 2020, 4. H untsman orporation and untsman nternational inancial tatements 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 Internationalās consolidated financial statements relate primarily to the following: ā purchase accounting recorded at our Company for the 2003 2005; ā the different capital structures; and ā a note payable from Huntsman International to us, which was repaid in full during the first 2020. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. C arrying alue of ong ived ssets 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 C ash and ash quivalents We consider cash in checking accounts and cash in short-term highly liquid investments with original maturities of three C ost of oods old 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. D erivatives and edging ctivities All derivatives, whether designated in hedging relationships or not, three not not E nvironmental xpenditures 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 āNote 22. E quity ethod nvestments We account for our equity investments where we own a non-controlling interest, but exercise significant influence, under the equity method of accounting. Under the equity method of accounting, our original cost of the investment is adjusted for our share of equity in the earnings of the equity investee and reduced by dividends and distributions of capital received, unless the fair value option is elected, in which case the investment balance is marked to fair value each reporting period and the impact of changes in fair value of the equity investment are reported in earnings. F oreign urrency ranslation 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 Foreign currency transaction gains and losses are recorded in other operating (income) expense, net in our consolidated statements of operations and were (losses) gains of $2 million, $(8) million and $3 million for the years ended December 31, 2020, 2019 2018 I ncome axes 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 On December 22, 2017, January 1, 2018), January 1, 2018) In 2017, 2018, not 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 not 20. I ntangible ssets and oodwill 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: In Years Patents and technology 5 - 30 Trademarks 9 - 30 Licenses and other agreements 5 - 15 Other intangibles 5 - 20 Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not third not During 2020 3. 2019, I nventories Inventories are stated at the lower of cost or market, with cost determined using LIFO, first first L eases On January 1, 2019, No. 2018 11, three The determination of whether a contract is or contains a lease is performed at the lease inception date. Lease right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term, using incremental borrowing rates as the implicit rates are not 9. L egal osts We expense legal costs, including those legal costs incurred in connection with a loss contingency, as incurred. N et ncome er hare ttributable to untsman orporation 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, 2020 2019 2018 Numerator: Basic and diluted income from continuing operations: Income from continuing operations attributable to Huntsman Corporation $ 259 $ 393 $ 608 Basic and diluted net income: Net income attributable to Huntsman Corporation $ 1,034 $ 562 $ 337 Denominator: Weighted average shares outstanding 220.6 228.9 238.1 Dilutive shares: Stock-based awards 1.3 1.7 3.5 Total weighted average shares outstanding, including dilutive shares 221.9 230.6 241.6 Additional stock-based awards of 4.3 million, 3.0 million and 0.8 million weighted average equivalent shares of stock were outstanding during the years ended December 31, 2020, 2019 2018 not O ther oncurrent ssets Periodic maintenance and repairs applicable to major units of manufacturing facilities (a āturnaroundā) 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. P rinciples of onsolidation 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. P roperty, lant and quipment 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: In Years Buildings and equipment 5 - 50 Plant and equipment 3 - 30 Furniture, fixtures and leasehold improvements 5 - 20 Interest expense capitalized as part of plant and equipment was $7 million, $4 million and $4 million for the years ended December 31, 2020, 2019 2018 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. R evenue ecognition We generate substantially all of our revenue through product sales in which revenue is recognized at a point in time. We recognize revenue when control of the promised goods is transferred to our customers. Control of goods usually passes to the customer at the time shipment is made. Revenue is measured as the amount that reflects the consideration that we expect to be entitled to in exchange for those goods. We generate substantially all of our revenues through sales in the open market and long-term supply agreements. We recognize revenue when control of the promised goods is transferred to our customers. Control of goods usually passes to the customer at the time shipment is made. Revenue is measured as the amount that reflects the consideration that we expect to be entitled to in exchange for those goods. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. We have elected to account for all shipping and handling activities as fulfillment costs. We have also elected to expense commissions when incurred as the amortization period of the commission asset that we would have otherwise recognized is less than one Substantially all of our revenue is generated through product sales in which revenue is recognized at a point in time. At contract inception, we assess the goods and services, if any, promised in our contracts and identify a performance obligation for each promise to transfer to the customer a good or service that is distinct. In substantially all cases, a contract has a single performance obligation to deliver a promised good to the customer. Revenue is recognized when control of the product is transferred to the customer (i.e., when our performance obligation is satisfied), which typically occurs at shipment. Further, in determining whether control has transferred, we consider if there is a present right to payment and legal title, along with risks and rewards of ownership having transferred to the customer. The amount of consideration we receive and revenue we recognize is based upon the terms stated in the sales contract, which may not one one not not 18. S ecuritization of ccounts eceivable Under our A/R Programs, we grant an undivided interest in certain of our trade receivables to the special purpose entities (āSPEā) in the U.S. and EU. 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 āNote 15. S tock ased ompensation 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, net of estimated forfeitures, will be recognized over the period during which the employee is required to provide services in exchange for the award. See āNote 24. U E The preparation of financial statements in conformity with U.S. 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. A P A D 2020 We adopted the following accounting pronouncements during 2020, not ā Financial Accounting Standards Board (āFASBā) Accounting Standards Update (āASUā) No. 2016 13, Financial InstrumentsāCredit Losses (Topic 326 ā FASB ASU No. 2018 14, CompensationāRetirement BenefitsāDefined Benefit PlansāGeneral (Topic 715 20 ā FASB ASU No. 2018 15, IntangiblesāGoodwill and OtherāInternal-Use Software (Subtopic 350 40 ā FASB ASU No. 2020 04, Reference Rate Reform (Topic 848 A P P A F uture P Eriods The following accounting pronouncement becomes effective subsequent to fiscal year 2020, not ā FASB ASU No. 2021 01, Reference Rate Reform (Topic 848 |
Note 3 - Business Combinations
Note 3 - Business Combinations and Acquisitions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 3 BUSINESS COMBINATIONS AND ACQUISITIONS A cquisition of hermoset pecialties On May 18, 2020, December 31, 2020, We have accounted for the CVC Thermoset Specialties Acquisition using the acquisition method. As such, we analyzed the fair value of tangible and intangible assets acquired and liabilities assumed. The preliminary allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions): Fair value of assets acquired and liabilities assumed: Cash paid for the CVC Thermoset Specialties Acquisition $ 304 Accounts receivable $ 12 Inventories 37 Property, plant and equipment 67 Intangible assets 117 Goodwill 120 Accounts payable (7 ) Accrued liabilities (1 ) Deferred income taxes (41 ) Total fair value of net assets acquired $ 304 The acquisition cost allocation is preliminary pending final determination of the fair value of assets acquired and liabilities assumed, primarily relating to the final valuation of intangible assets and deferred taxes. As a result of this preliminary valuation of the assets and liabilities, reallocations were made in certain inventory, property, plant and equipment, intangible asset, goodwill and deferred tax balances during the fourth 2020. none The acquired business had revenues and net loss of $43 million and $6 million, respectively, for the period from the date of acquisition to December 31, 2020. A cquisition of cynene apolla On February 20, 2020, December 31, 2020, We have accounted for the Icynene-Lapolla Acquisition using the acquisition method. As such, we analyzed the fair value of tangible and intangible assets acquired and liabilities assumed. The preliminary allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions): Fair value of assets acquired and liabilities assumed: Cash paid for the Icynene-Lapolla Acquisition $ 353 Cash $ 7 Accounts receivable 36 Inventories 32 Prepaid expenses and other current assets 1 Property, plant and equipment 7 Intangible assets 165 Goodwill 139 Other noncurrent assets 3 Accounts payable (13 ) Accrued liabilities (10 ) Deferred income taxes (14 ) Total fair value of net assets acquired $ 353 The acquisition cost allocation is preliminary pending final determination of the fair value of assets acquired and liabilities assumed, including final valuation of certain liabilities, property, plant and equipment, intangible assets, leases and deferred taxes. Intangible assets acquired included in this preliminary allocation consist primarily of trademarks, trade secrets and customer relationships. The applicable amortization periods are still being assessed. For purposes of this preliminary allocation of fair value, we have assigned any excess of the acquisition cost over the estimated preliminary fair value to goodwill. The estimated goodwill recognized is attributable primarily to projected future profitable growth, penetration into downstream markets and synergies. We expect that none The acquired business had revenues and net income of $199 million and $12 million, respectively, for the period from the date of acquisition to December 31, 2020. P RO F ORMA I NFORMATION FOR A CQUISITIONS O CCURRING IN 2020 If the CVC Thermoset Specialties Acquisition and the Icynene-Lapolla Acquisition were to have occurred on January 1, 2019, Pro Forma (Unaudited) Year ended December 31, 2020 2019 Revenues $ 6,080 $ 7,140 Net income 1,063 616 Net income attributable to Huntsman Corporation 1,031 580 Pro Forma (Unaudited) Year ended December 31, 2020 2019 Revenues $ 6,080 $ 7,140 Net income 1,064 605 Net income attributable to Huntsman International 1,032 569 A cquisition of emaining nterest in asol untsman oint enture On September 30, 2019, not 2019 15. not 8. The effects of changes in our ownership interest in Sasol-Huntsman on the equity attributable to Huntsman Corporation and Huntsman International are as follows (dollars in millions): Year ended December 31, 2019 2018 Net income attributable to Huntsman Corporation shareholders $ 562 $ 337 Decrease in Huntsman Corporationās paid-in capital for purchase of 50% interest in Sasol-Huntsman (11 ) ā Net transfers to noncontrolling interest (11 ) ā Change from net income attributable to Huntsman Corporation shareholders and transfers to noncontrolling interest $ 551 $ 337 Year ended December 31, 2019 2018 Net income attributable to Huntsman International shareholders $ 551 $ 323 Decrease in Huntsman Internationalās paid-in capital for purchase of 50% interest in Sasol-Huntsman (11 ) ā Net transfers to noncontrolling interest (11 ) ā Change from net income attributable to Huntsman International shareholders and transfers to noncontrolling interest $ 540 $ 323 A cquisition of emilec On April 23, 2018, 2018 We have accounted for the Demilec Acquisition using the acquisition method. As such, we determined 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): Fair value of assets acquired and liabilities assumed: Cash paid for the Demilec Acquisition $ 353 Cash $ 1 Accounts receivable 31 Inventories 23 Prepaid expenses and other current assets 1 Property, plant and equipment 21 Intangible assets 177 Goodwill 140 Accounts payable (16 ) Accrued liabilities (3 ) Deferred income taxes (22 ) Total fair value of net assets acquired $ 353 Intangible assets acquired consist primarily of trademarks, trade secrets and customer relationships, all of which are being amortized over 15 years. We have assigned any excess of the acquisition cost of the fair values to goodwill. During the third 2018, The acquired business had revenues and net income of $142 million and $5 million, respectively, for the period from the date of acquisition to December 31, 2018. If this acquisition were to have occurred on January 1, 2018, Pro Forma (Unaudited) Year ended December 31, 2018 Revenues $ 7,662 Net income 639 Net income attributable to Huntsman Corporation 326 Pro Forma (Unaudited) Year ended December 31, 2018 Revenues $ 7,662 Net income 625 Net income attributable to Huntsman International 312 |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations and Business Dispositions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 4. Sale of Chemical Intermediates Businesses On January 3, 2020, 2020. During the year ended December 31, 2020, December 23, 2020, 1. The following table reconciles the carrying amounts of major classes of assets and liabilities of discontinued operations to total assets and liabilities of discontinued operations that were classified as held for sale in our consolidated balance sheets (dollars in millions): December 31, 2019 Carrying amounts of major classes of assets held for sale: Accounts receivable $ 145 Inventories 105 Property, plant and equipment, net 720 Operating lease right-of-use assets 69 Deferred income taxes 4 Other noncurrent assets 165 Total assets held for sale (1) $ 1,208 Carrying amounts of major classes of liabilities held for sale: Accounts payable $ 152 Accrued liabilities 26 Current operating lease liabilities 20 Deferred income taxes 135 Noncurrent operating lease liabilities 51 Other noncurrent liabilities 128 Total liabilities held for sale (1) $ 512 ( 1 The assets and liabilities held for sale are classified as current as of December 31, 2019 January 3, 2020. The following table reconciles major line items constituting pretax income of discontinued operations to after-tax income (loss) of discontinued operations as presented in our consolidated statements of operations (dollars in millions): Year ended December 31, 2020 2019 2018 Major line items constituting pretax income of discontinued operations (1) Trade sales, services and fees, net (2) $ 7 $ 1,545 $ 3,923 Cost of goods sold (2) (37 ) 1,287 2,847 Gain on sale of the Chemical Intermediates Businesses 978 ā ā Other expense items, net that are not major 5 54 332 Income from discontinued operations before income taxes 1,017 204 744 Income tax expense (242 ) (35 ) (86 ) Loss on disposal ā ā (427 ) Valuation allowance ā ā (270 ) Income (loss) from discontinued operations, net of tax 775 169 (39 ) Net income attributable to noncontrolling interests ā ā (6 ) Net income (loss) attributable to discontinued operations $ 775 $ 169 $ (45 ) ( 1 Discontinued operations primarily include our Chemical Intermediates Businesses for all periods presented. We began accounting for our investment in Venator as an equity method investment on December 3, 2018. January 1, 2017 December 2, 2018. ( 2 Includes eliminations of trade sales, services and fees, net and cost of sales between continuing operations and discontinued operations. Separation and Deconsolidation of Venator In August 2017, December 2018, December 23, 2020, 1. no December, 2020, 2019 2018, December 31, 2020 Sale of India-Based Do-It-Yourself Consumer Adhesives Business On November 3, 2020, may 2019 fourth 2020, |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories consisted of the following (dollars in millions): December 31, 2020 2019 Raw materials and supplies $ 180 $ 175 Work in progress 44 49 Finished goods 651 718 Total 875 942 LIFO reserves (27 ) (28 ) Net inventories $ 848 $ 914 For December 31, 2020 2019 |
Note 6 - Property, Plant and Eq
Note 6 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. The cost and accumulated depreciation of property, plant and equipment were as follows (dollars in millions): Huntsman Corporation December 31, 2020 2019 Land $ 97 $ 103 Buildings 540 605 Plant and equipment 5,039 4,695 Construction in progress 357 285 Total 6,033 5,688 Less accumulated depreciation (3,528 ) (3,305 ) Net $ 2,505 $ 2,383 Depreciation expense for Huntsman Corporation for 2020 2019 2018 Huntsman International December 31, 2020 2019 Land $ 97 $ 103 Buildings 540 605 Plant and equipment 5,127 4,749 Construction in progress 357 285 Total 6,121 5,742 Less accumulated depreciation (3,616 ) (3,359 ) Net $ 2,505 $ 2,383 Depreciation expense for Huntsman International for 2020 2019 2018 |
Note 7 - Investment in Unconsol
Note 7 - Investment in Unconsolidated Affiliates | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Investment in Unconsolidated Affiliates Disclosure [Text Block] | 7. Our ownership percentage and investment in unconsolidated affiliates were as follows (dollars in millions): December 31, 2020 2019 Equity Method: Venator Materials PLC(1) $ ā $ 200 BASF Huntsman Shanghai Isocyanate Investment BV ( 50% 111 112 Nanjing Jinling Huntsman New Material Co., Ltd. ( 49% 229 196 Jurong Ningwu New Material Development Co., Ltd. ( 30% 33 27 Total investments $ 373 $ 535 ( 1 On December 23, 2020, no December 31, 2020, ( 2 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. S F I U A Summarized financial information of our unconsolidated affiliates as of December 31, 2020 2019 December 31, 2020, 2019 2018 December 31, 2020 2019 Current assets $ 1,544 $ 1,439 Non-current assets 2,317 2,436 Current liabilities 574 688 Non-current liabilities 1,804 1,614 Noncontrolling interests 6 7 Year ended December 31, 2020 2019 2018(1) Revenues $ 3,544 $ 4,025 $ 2,181 Gross profit 338 454 221 (Loss) income from continuing operations (2 ) 99 124 Net (loss) income (2 ) 99 124 ( 1 We began accounting for our investment in Venator as an equity method investment on December 3, 2018 December 23, 2020 December 31, 2020 2019 December 3, 2018 December 31, 2018. |
Note 8 - Variable Interest Enti
Note 8 - Variable Interest Entities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Variable Interest Entity Disclosure [Text Block] | 8. 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: ā Rubicon LLC is our 50%-owned joint venture with Lanxess that 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 ā AAC is our 50%-owned joint venture with Zamil group that manufactures products for our Performance Products segment. As required in the operating agreement governing this joint venture, we purchase all of AACās production and sell it to our customers. Substantially all of the joint ventureās activities are conducted on our behalf. Sasol-Huntsman was our 50%-owned joint venture with Sasol that owned and operated a maleic anhydride facility in Moers, Germany. On September 30, 2019, not September 30, 2019, no During the year ended December 31, 2020, no Creditors of our variable interest entities have no 15. December 31, 2020 The following table summarizes the carrying amount of our variable interest entitiesā assets and liabilities included in our consolidated balance sheets as of December 31, 2020 2019 December 31, 2020 2019 Current assets $ 49 $ 50 Property, plant and equipment, net 167 180 Operating lease right-of-use assets 22 16 Other noncurrent assets 138 132 Deferred income taxes 30 30 Total assets $ 406 $ 408 Current liabilities $ 183 $ 151 Long-term debt 3 29 Noncurrent operating lease liabilities 17 11 Other noncurrent liabilities 82 87 Deferred income taxes 1 ā Total liabilities $ 286 $ 278 The revenues, income from continuing operations before income taxes and net cash provided by operating activities for our variable interest entities are as follows (dollars in millions): Year ended December 31, 2020 2019 (1) 2018 Revenues $ ā $ 95 $ 154 Income from continuing operations before income taxes 4 17 40 Net cash provided by operating activities 10 81 65 ( 1 As of September 30, 2019, no January 1, 2019 September 30, 2019. |
Note 9 - Leases
Note 9 - Leases | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lease Disclosure [Text Block] | 9 . LEASES We primarily lease manufacturing and research facilities, administrative offices, land, tanks, railcars and equipment. Leases with an initial term of 12 not nil December 31, 2020 2019, one one one None The components of operating lease expense, cash flows and supplemental noncash information from continuing operations are as follows (dollars in millions): Years Ended December 31, 2020 2019 Operating lease expense: Cost of goods sold $ 34 $ 35 Selling, general and administrative 26 15 Research and development 6 6 Total operating lease expense (1)(2) $ 66 $ 56 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 74 $ 53 Supplemental noncash information: Leased assets obtained in exchange for new operating lease liabilities $ 91 $ 416 ( 1 Total operating lease expense includes short-term lease expense of approximately $3 million and $1 million for the years ended December 31, 2020 2019, ( 2 Total operating lease expense for the year ended December 31, 2018 The weighted-average lease term and discount rate for our operating leases from continuing operations are as follows: Years Ended December 31, 2020 2019 Weighted-average remaining lease term (in years) 11 11 Weighted-average discount rate 4.0 % 4.1 % The undiscounted future cash flows of operating lease liabilities from continuing operations as of December 31, 2020 Year ending December 31, 2021 $ 68 2022 62 2023 58 2024 55 2025 51 Thereafter 276 Total lease payments 570 Less imputed interest (107 ) Total $ 463 As of December 31, 2020 not 2021 seven During November 2020, five |
Note 10 - Intangible Assets
Note 10 - Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10 . INTANGIBLE ASSETS The gross carrying amount and accumulated amortization of intangible assets were as follows (dollars in millions): Huntsman Corporation December 31, 2020 December 31, 2019 Carrying Accumulated Carrying Accumulated Amount Amortization Net Amount Amortization Net Patents, trademarks and technology $ 316 $ 237 $ 79 $ 314 $ 230 $ 84 Licenses and other agreements 140 61 79 140 48 92 Non-compete agreements 3 2 1 3 2 1 Other intangibles(1) 349 55 294 61 41 20 Total $ 808 $ 355 $ 453 $ 518 $ 321 $ 197 Amortization expense was $33 million, $16 million and $6 million for the years ended December 31, 2020, 2019 2018 Huntsman International December 31, 2020 December 31, 2019 Carrying Accumulated Carrying Accumulated Amount Amortization Net Amount Amortization Net Patents, trademarks and technology $ 316 $ 237 $ 79 $ 314 $ 230 $ 84 Licenses and other agreements 140 61 79 140 48 92 Non-compete agreements 3 2 1 3 2 1 Other intangibles(1) 357 63 294 70 50 20 Total $ 816 $ 363 $ 453 $ 527 $ 330 $ 197 Amortization expense was $33 million, $16 million and $6 million for the years ended December 31, 2020, 2019 2018 ( 1 Includes provisional intangible asset fair values related to the CVC Thermoset Specialties Acquisition and the Icynene-Lapolla Acquisition. For more information, see āNote 3. Our and Huntsman Internationalās estimated future amortization expense for intangible assets over the next five Year ending December 31, 2021 $ 30 2022 34 2023 34 2024 34 2025 34 |
Note 11 - Other Noncurrent Asse
Note 11 - Other Noncurrent Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Investments and Other Noncurrent Assets [Text Block] | 1 1 . OTHER NONCURRENT ASSETS Other noncurrent assets consisted of the following (dollars in millions): December 31, 2020 2019 Capitalized turnaround costs, net $ 250 $ 223 Investment in Venator 32 ā Catalyst assets, net 27 24 Other 239 205 Total $ 548 $ 452 Amortization expense of catalyst assets for the years ended December 31, 2020, 2019 2018 |
Note 12 - Accrued Liabilities
Note 12 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 1 2 . ACCRUED LIABILITIES Accrued liabilities consisted of the following (dollars in millions): Huntsman Corporation December 31, 2020 2019 Payroll and related accruals $ 97 $ 100 Income taxes 73 59 Taxes other than income taxes 56 64 Volume and rebate accruals 55 53 Other miscellaneous accruals 177 144 Total $ 458 $ 420 Huntsman International December 31, 2020 2019 Payroll and related accruals $ 97 $ 100 Income taxes 73 59 Taxes other than income taxes 56 64 Volume and rebate accruals 55 53 Other miscellaneous accruals 174 141 Total $ 455 $ 417 |
Note 13 - Restructuring, Impair
Note 13 - Restructuring, Impairment and Plant Closing Costs (Credits) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 13. As of December 31, 2020, 2019 2018, Non-cancelable Other Workforce Demolition and lease and contract restructuring reductions decommissioning termination costs costs Total Accrued liabilities as of January 1, 2018 $ 5 $ 2 $ 41 $ 5 $ 53 2018 charges for 2017 and prior initiatives ā ā 2 ā 2 2018 charges for 2018 initiatives 5 ā ā 10 15 2018 payments for 2017 and prior initiatives (2 ) (1 ) (2 ) ā (5 ) 2018 payments for 2018 initiatives (1 ) ā ā (5 ) (6 ) Reversal of reserves no longer required (2 ) ā (29 ) ā (31 ) Accrued liabilities as of December 31, 2018 5 1 12 10 28 2019 (credits) charges for 2018 and prior initiatives 2 (1 ) 2 3 6 2019 charges for 2019 initiatives 7 ā ā 1 8 2019 payments for 2018 and prior initiatives (4 ) ā (7 ) (9 ) (20 ) 2019 payments for 2019 initiatives ā ā ā (1 ) (1 ) Reversal of reserves no longer required (2 ) ā ā (2 ) (4 ) Accrued liabilities as of December 31, 2019 8 ā 7 2 17 2020 charges for 2019 and prior initiatives ā ā 2 3 5 2020 charges for 2020 initiatives 35 ā ā 3 38 2020 payments for 2019 and prior initiatives (5 ) ā (7 ) (4 ) (16 ) 2020 payments for 2020 initiatives (10 ) ā ā (3 ) (13 ) Reversal of reserves no longer required ā ā ā (1 ) (1 ) Foreign currency effect on liability balance 1 ā ā ā 1 Accrued liabilities as of December 31, 2020 $ 29 $ ā $ 2 $ ā $ 31 Details with respect to our reserves for restructuring, impairment and plant closing costs are provided below by segment and initiative (dollars in millions): Performance Advanced Textile Corporate Polyurethanes Products Materials Effects and other Total Accrued liabilities as of January 1, 2018 $ 1 $ 1 $ 3 $ 47 $ 1 $ 53 2018 charges (credits) for 2017 and prior initiatives ā 1 ā (4 ) 5 2 2018 charges for 2018 initiatives ā 2 3 ā 10 15 2018 payments for 2017 and prior initiatives (1 ) (1 ) ā ā (3 ) (5 ) 2018 payments for 2018 initiatives ā (1 ) ā ā (5 ) (6 ) Reversal of reserves no longer required ā (1 ) ā (29 ) (1 ) (31 ) Accrued liabilities as of December 31, 2018 ā 1 6 14 7 28 2019 charges for 2018 and prior initiatives ā ā ā 2 4 6 2019 charges for 2019 initiatives ā ā 7 ā 1 8 2019 payments for 2018 and prior initiatives ā (1 ) (2 ) (9 ) (8 ) (20 ) 2019 payments for 2019 initiatives ā ā (1 ) ā ā (1 ) Reversal of reserves no longer required ā ā ā (4 ) ā (4 ) Accrued liabilities as of December 31, 2019 ā ā 10 3 4 17 2020 charges (credits) for 2019 and prior initiatives ā 1 (1 ) 1 4 5 2020 charges for 2020 initiatives 16 4 9 7 2 38 2020 payments for 2019 and prior initiatives (1 ) ā (5 ) (2 ) (8 ) (16 ) 2020 payments for 2020 initiatives (3 ) (3 ) (3 ) (2 ) (2 ) (13 ) Reversal of reserves no longer required ā ā (1 ) ā ā (1 ) Foreign currency effect on liability balance ā ā ā 1 ā 1 Accrued liabilities as of December 31, 2020 $ 12 $ 2 $ 9 $ 8 $ ā $ 31 Current portion of restructuring reserves $ 12 $ 2 $ 6 $ 6 $ ā $ 26 Long-term portion of restructuring reserves ā ā 3 2 ā 5 Details with respect to cash and noncash restructuring charges for the years ended December 31, 2020, 2019 2018 Cash charges: 2020 charges for 2019 and prior initiatives $ 5 2020 charges for 2020 initiatives 38 Reversal of reserves no longer required (1 ) Noncash charges: Accelerated depreciation 7 Total 2020 restructuring, impairment and plant closing costs $ 49 Cash charges: 2019 charges for 2018 and prior initiatives $ 6 2019 charges for 2019 initiatives 8 Reversal of reserves no longer required (4 ) Noncash charges: Gain on sale of assets (49 ) Other noncash credits (2 ) Total 2019 restructuring, impairment and plant closing costs $ (41 ) Cash charges: 2018 charges for 2017 and prior initiatives $ 2 2018 charges for 2018 initiatives 15 Noncash charges: Reversal of reserves no longer required (31 ) Other noncash charges 7 Total 2018 restructuring, impairment and plant closing costs $ (7 ) 2020 R A Beginning in the second 2020, December 31, 2020, 2021. Beginning in the third 2020, December 31, 2020, 2021. Beginning in the second 2020, December 21, 2020. Beginning in the second 2020, December 31, 2020. During 2020, December 31, 2020 2019 R A In September 2011, July 2019, third 2019, third 2019. 2018 R A In 2011, fourth 2018, 2019 2023. fourth 2018. 2018, Our Corporate and other segment recorded restructuring expense of $15 million in 2018 |
Note 14 - Other Noncurrent Liab
Note 14 - Other Noncurrent Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Other Liabilities, Noncurrent Disclosure [Text Block] | 1 4 . OTHER NONCURRENT LIABILITIES Other noncurrent liabilities consisted of the following (dollars in millions): Huntsman Corporation December 31, 2020 2019 Pension liabilities $ 680 $ 650 Other postretirement benefits 59 55 Employee benefit accrual 44 38 Other 127 155 Total $ 910 $ 898 Huntsman International December 31, 2020 2019 Pension liabilities $ 680 $ 650 Other postretirement benefits 59 55 Employee benefit accrual 44 38 Other 117 147 Total $ 900 $ 890 |
Note 15 - Debt
Note 15 - Debt | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 1 5 . DEBT Outstanding debt, net of debt issuance costs, of consolidated entities consisted of the following (dollars in millions): Huntsman Corporation December 31, December 31, 2020 2019 Senior Credit Facilities: Revolving facility $ ā $ 40 Amounts outstanding under A/R programs ā 167 Term loan ā 103 Senior notes 2,047 1,963 Variable interest entities 50 65 Other 24 51 Total debt $ 2,121 $ 2,389 Total current portion of debt $ 593 $ 212 Long-term portion of debt 1,528 2,177 Total debt $ 2,121 $ 2,389 Huntsman International December 31, December 31, 2020 2019 Senior Credit Facilities: Revolving facility $ ā $ 40 Amounts outstanding under A/R programs ā 167 Term loan ā 103 Senior notes 2,047 1,963 Variable interest entities 50 65 Other 24 51 Total debt, excluding debt to affiliates $ 2,121 $ 2,389 Total current portion of debt $ 593 $ 212 Long-term portion of debt 1,528 2,177 Total debt, excluding debt to affiliates $ 2,121 $ 2,389 Notes payable to affiliates-current ā 100 Notes payable to affiliates-noncurrent ā 280 Total debt $ 2,121 $ 2,769 D S D Substantially all of our debt, including the facilities described below, has been incurred by our subsidiaries (primarily Huntsman International); Huntsman Corporation is not Certain of our subsidiaries have third third Debt Issuance Costs We record debt issuance costs related to a debt liability on the balance sheets as a reduction in the face amount of that debt liability. As of December 31, 2020 2019 Revolving Credit Facility On May 21, 2018, May 2023. may In connection with entering into the Revolving Credit Facility, Huntsman International terminated all commitments and repaid all obligations under our previous $650 million senior secured revolving credit facility. In addition, we recognized a loss of early extinguishment of debt of $3 million. As of December 31, 2020 Unamortized Discounts and Committed Principal Debt Issuance Carrying Facility Amount Outstanding Costs Value Interest Rate (2) Maturity Revolving Credit Facility $ 1,200 $ ā (1) $ ā (1) $ ā (1) USD LIBOR plus 1.50% 2023 ( 1 On December 31, 2020 ( 2 Interest rates on borrowings under the Revolving Credit Facility vary based on the type of loan and Huntsman Internationalās debt ratings. The then applicable interest rate as of December 31, 2020 Term Loan Credit Facility On September 24, 2019, 2019 ā¬92 2019 not September 22, 2020 2019 A/R Programs Our A/R Programs are structured so that we transfer certain of our trade receivables to the U.S. special purpose entity (āU.S. SPEā) and the European special purpose entity (āEU SPEā) in transactions intended to be true sales or true contributions. The receivables collateralize debt incurred by the U.S. SPE and the EU SPE. In April 2019, April 2022, ā¬150 ā¬100 April 2022 In December 2019, January 3, 2020. In October 2020, Information regarding our A/R Programs as of December 31, 2020 Maximum Funding Amount Facility Maturity Availability (1) Outstanding Interest Rate (2) U.S. A/R Program April 2022 $ 150 $ ā (3) Applicable rate plus 0.90% EU A/R Program April 2022 ā¬ 100 ā¬ ā Applicable rate plus 1.30% (or approximately $123) (or approximately $0) ( 1 The amount of actual availability under our A/R Programs may ( 2 The applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. The applicable rate for our EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR. ( 3 As of December 31, 2020 As of December 31, 2020 December 31, 2019 Notes As of December 31, 2020 Unamortized Premiums, Discounts and Debt Notes Maturity Interest Rate Amount Outstanding Issuance Costs 2021 Senior Notes April 2021 5.125 % ā¬445 (ā¬445 carrying value $(545)) $ ā 2022 Senior Notes November 2022 5.125 % $400 ($399 carrying value) 1 2025 Senior Notes April 2025 4.250 % ā¬300 (ā¬298 carrying value $(366)) 2 2029 Senior Notes February 2029 4.500 % $750 ($737 carrying value) 13 The 2021, 2022, 2025 2029 2021, 2022, 2025 2029 On March 13, 2019, 2029 ā2029 March 27, 2019, 2029 2020 ā2020 The 2029 May 1 November 1, May 1, 2029. may 2029 February 1, 2029 may 2029 February 1, 2029 Redemption of the 2021 On January 15, 2021, ā¬ 445 2021 not Variable Interest Entity Debt As of December 31, 2020 December 31, 2020 not not Note Payable from Huntsman International to Huntsman Corporation During the first 2020, C ompliance ith ovenants Our Revolving Credit Facility contains a financial covenant regarding the leverage ratio of Huntsman International and its subsidiaries. The Revolving Credit Facility also contains other customary covenants and events of default for credit facilities of this type. Upon an event of default that is not may may The agreements governing our A/R Programs also contain certain receivable performance metrics. Any material failure to meet the applicable A/R Programsā metrics 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 Revolving Credit Facility, which could require us to pay off the balance of the Revolving Credit Facility in full and could result in the loss of our Revolving Credit Facility. We believe that we are in compliance with the covenants governing our material debt instruments, including our Revolving Credit Facility, our A/R Programs and our notes. M aturities The scheduled maturities of our debt (excluding debt to affiliates) by year as of December 31, 2020 Year ending December 31, 2021 $ 593 2022 403 2023 1 2024 2 2025 369 Thereafter 753 $ 2,121 |
Note 16 - Derivative Instrument
Note 16 - Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 1 6 . 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. I nterest ate isks 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 January 9, 2019, six November 2019, During 2020 no twelve may F oreign xchange ate isk 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 three not December 31, 2020 2019 one 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 entitiesā 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 Foreign currency transaction gains and losses on intercompany loans that are not We review our non-U.S. dollar denominated debt and derivative instruments to determine the appropriate amounts designated as hedges. As of December 31, 2020 ā¬523 December 31, 2020, 2019 2018 C ommodity rices isk 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 |
Note 17 - Fair Value
Note 17 - Fair Value | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 7 . FAIR VALUE The fair values of our financial instruments were as follows (dollars in millions): December 31, 2020 December 31, 2019 Carrying Estimated Carrying Estimated Value Fair Value Value Fair Value Non-qualified employee benefit plan investments $ 26 $ 26 $ 28 $ 28 Option agreement for remaining Venator shares 11 11 ā ā Long-term debt (including current portion) (2,121 ) (2,334 ) (2,389 ) (2,544 ) 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. Our investment in Venator is marked to fair value, which is obtained through market observable pricing using prevailing market prices (Level 1 2 4. 1 1 December 31, 2020 2019 not not December 31, 2020 may During the years ended December 31, 2020 2019 3 3 |
Note 18 - Revenue Recognition
Note 18 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 18. The following table disaggregates our revenue by major source for the years ended December 31, 2020, 2019 2018 2020 Polyurethanes Performance Products Advanced Materials Textile Effects Corporate and Eliminations Total Primary Geographic Markets (1) U.S. and Canada $ 1,362 $ 447 $ 217 $ 48 $ (23 ) $ 2,051 Europe 961 252 319 98 (1 ) 1,629 Asia Pacific 997 260 224 360 ā 1,841 Rest of world 264 64 79 91 (1 ) 497 $ 3,584 $ 1,023 $ 839 $ 597 $ (25 ) $ 6,018 Major Product Groupings MDI urethanes $ 3,584 $ 3,584 Differentiated $ 1,023 1,023 Specialty $ 746 746 Non-specialty 93 93 Textile chemicals and dyes $ 597 597 Eliminations $ (25 ) (25 ) $ 3,584 $ 1,023 $ 839 $ 597 $ (25 ) $ 6,018 2019 Polyurethanes Performance Products Advanced Materials Textile Effects Corporate and Eliminations Total Primary Geographic Markets (1) U.S. and Canada $ 1,475 $ 531 $ 289 $ 62 $ (64 ) $ 2,293 Europe 1,051 316 410 128 (9 ) 1,896 Asia Pacific 1,078 248 269 446 (2 ) 2,039 Rest of world 307 63 76 127 (4 ) 569 $ 3,911 $ 1,158 $ 1,044 $ 763 $ (79 ) $ 6,797 Major Product Groupings MDI urethanes $ 3,911 $ 3,911 Differentiated $ 1,158 1,158 Specialty $ 891 891 Non-specialty 153 153 Textile chemicals and dyes $ 763 763 Eliminations $ (79 ) (79 ) $ 3,911 $ 1,158 $ 1,044 $ 763 $ (79 ) $ 6,797 2018 Polyurethanes Performance Products Advanced Materials Textile Effects Corporate and Eliminations Total Primary Geographic Markets(1) U.S. and Canada $ 1,426 $ 586 $ 285 $ 68 $ 122 $ 2,487 Europe 1,277 368 445 135 (16 ) 2,209 Asia Pacific 1,236 278 301 485 (24 ) 2,276 Rest of world 343 69 85 136 (1 ) 632 $ 4,282 $ 1,301 $ 1,116 $ 824 $ 81 $ 7,604 Major Product Groupings MDI urethanes $ 4,282 $ 4,282 Differentiated $ 1,301 1,301 Specialty $ 932 932 Non-specialty 184 184 Textile chemicals and dyes $ 824 824 Eliminations $ 81 81 $ 4,282 $ 1,301 $ 1,116 $ 824 $ 81 $ 7,604 ( 1 Geographic information for revenues is based upon countries into which product is sold. |
Note 19 - Employee Benefit Plan
Note 19 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 1 9 . EMPLOYEE BENEFIT PLANS D B O P B We provide a trusteed, non contributory defined benefit pension plan (the āPlanā) that covers the majority of our U.S. employees. Effective July 1, 2004, not not Beginning July 1, 2014, April 1, 2015, January 1, 2015, August 1, 2015, Our postretirement benefit plans provide access to two 2003 not not not 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. 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, 2020 2019 Defined Benefit Plans Other Postretirement Benefit Plans 2020 2019 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Plans Plans Plans Plans Plans Plans Plans Plans Change in benefit obligation Benefit obligation at beginning of year $ 1,024 $ 2,377 $ 956 $ 2,157 $ 60 $ ā $ 59 $ ā Service cost 21 31 20 30 1 ā 1 ā Interest cost 37 25 41 37 2 ā 3 ā Participant contributions ā 6 ā 6 2 ā 2 ā Plan amendments ā ā ā (9 ) ā ā ā ā Foreign currency exchange rate changes ā 200 ā 7 ā ā ā ā Settlements/curtailments/divestitures (2 ) (10 ) 20 (2 ) ā ā 1 ā Actuarial (gain) loss 87 116 65 224 9 ā ā ā Benefits paid (76 ) (74 ) (78 ) (73 ) (9 ) ā (6 ) ā Benefit obligation at end of year $ 1,091 $ 2,671 $ 1,024 $ 2,377 $ 65 $ ā $ 60 $ ā Change in plan assets Fair value of plan assets at beginning of year $ 790 $ 1,960 $ 697 $ 1,751 $ ā $ ā $ ā $ ā Actual return on plan assets 99 143 107 224 ā ā ā ā Foreign currency exchange rate changes ā 161 ā 11 ā ā ā ā Participant contributions ā 6 ā 6 2 ā 2 ā Settlement/transfers/divestitures (1 ) (11 ) 19 (2 ) ā ā ā ā Company contributions 54 40 45 43 7 ā 4 ā Benefits paid (76 ) (74 ) (78 ) (73 ) (9 ) ā (6 ) ā Fair value of plan assets at end of year $ 866 $ 2,225 $ 790 $ 1,960 $ ā $ ā $ ā $ ā Funded status Fair value of plan assets $ 866 $ 2,225 $ 790 $ 1,960 $ ā $ ā $ ā $ ā Benefit obligation 1,091 2,671 1,024 2,377 65 ā 60 ā Accrued benefit cost $ (225 ) $ (446 ) $ (234 ) $ (417 ) $ (65 ) $ ā $ (60 ) $ ā Amounts recognized in balance sheet: Noncurrent asset $ ā $ 20 $ ā $ 10 $ ā $ ā $ ā $ ā Current liability (5 ) (6 ) (5 ) (6 ) (6 ) ā (5 ) ā Noncurrent liability (220 ) (460 ) (229 ) (421 ) (59 ) ā (55 ) ā Total $ (225 ) $ (446 ) $ (234 ) $ (417 ) $ (65 ) $ ā $ (60 ) $ ā Huntsman Corporation Defined Benefit Plans Other Postretirement Benefit Plans 2020 2019 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Plans Plans Plans Plans Plans Plans Plans Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ 363 $ 874 $ 394 $ 840 $ 26 $ ā $ 20 $ ā Prior service credit (9 ) (27 ) (11 ) (32 ) (25 ) ā (33 ) ā Total $ 354 $ 847 $ 383 $ 808 $ 1 $ ā $ (13 ) $ ā Huntsman International Defined Benefit Plans Other Postretirement Benefit Plans 2020 2019 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Plans Plans Plans Plans Plans Plans Plans Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ 363 $ 877 $ 395 $ 846 $ 26 $ ā $ 20 $ ā Prior service credit (9 ) (27 ) (11 ) (31 ) (25 ) ā (33 ) ā Total $ 354 $ 850 $ 384 $ 815 $ 1 $ ā $ (13 ) $ ā During 2020, During 2019, Components of net periodic benefit costs of continuing operations for the years ended December 31, 2020, 2019 2018 Huntsman Corporation Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 21 $ 20 $ 23 $ 31 $ 30 $ 32 Interest cost 37 41 39 25 37 37 Expected return on plan assets (59 ) (53 ) (54 ) (114 ) (102 ) (109 ) Amortization of prior service credit (2 ) (2 ) (2 ) (5 ) (4 ) (5 ) Amortization of actuarial loss 28 23 31 53 45 38 Settlement loss ā ā 2 ā 1 ā Net periodic benefit cost (credit) $ 25 $ 29 $ 39 $ (10 ) $ 7 $ (7 ) Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 1 $ 1 $ 2 $ ā $ ā $ ā Interest cost 2 3 2 ā ā ā Amortization of prior service credit (5 ) (5 ) (5 ) ā ā ā Amortization of actuarial loss 1 1 2 ā ā ā Net periodic benefit (credit) costs $ (1 ) $ ā $ 1 $ ā $ ā $ ā Huntsman International Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 21 $ 20 $ 23 $ 31 $ 30 $ 32 Interest cost 37 41 39 25 37 37 Expected return on plan assets (59 ) (53 ) (54 ) (114 ) (102 ) (109 ) Amortization of prior service credit (2 ) (2 ) (2 ) (5 ) (4 ) (5 ) Amortization of actuarial loss 28 23 31 57 48 41 Settlement loss ā ā 2 ā 1 ā Net periodic benefit cost (credit) $ 25 $ 29 $ 39 $ (6 ) $ 10 $ (4 ) Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 1 $ 1 $ 2 $ ā $ ā $ ā Interest cost 2 3 2 ā ā ā Amortization of prior service credit (5 ) (5 ) (5 ) ā ā ā Amortization of actuarial loss 1 1 2 ā ā ā Net periodic benefit (credit) costs $ (1 ) $ ā $ 1 $ ā $ ā $ ā The amounts recognized in net periodic benefit cost and other comprehensive income (loss) as of December 31, 2020, 2019 2018 Huntsman Corporation Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss $ 40 $ 19 $ 18 $ 87 $ 101 $ 117 Amortization of actuarial loss (28 ) (26 ) (34 ) (53 ) (45 ) (38 ) Current year prior service (credits) cost ā ā ā ā (10 ) 4 Amortization of prior service credit 2 2 2 5 4 5 Settlements (42 ) ā (2 ) ā 1 ā Total recognized in other comprehensive income (loss) (28 ) (5 ) (16 ) 39 51 88 Amounts related to discontinued operations 17 9 (4 ) ā ā ā Total recognized in other comprehensive income (loss) in continuing operations (11 ) 4 (20 ) 39 51 88 Net periodic benefit cost 25 29 39 (10 ) 7 (7 ) Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 14 $ 33 $ 19 $ 29 $ 58 $ 81 Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss (gain) $ 9 $ ā $ (10 ) $ ā $ ā $ ā Amortization of actuarial loss (1 ) (1 ) (2 ) ā ā ā Current year prior service credit ā ā ā ā ā ā Amortization of prior service credit 5 5 6 ā ā ā Settlements (1 ) ā ā ā ā ā Curtailment (gain) loss 2 ā ā ā ā ā Total recognized in other comprehensive income (loss) 14 4 (6 ) ā ā ā Amounts related to discontinued operations ā (6 ) ā ā ā ā Total recognized in other comprehensive income (loss) in continuing operations 14 (2 ) (6 ) ā ā ā Net periodic benefit cost (1 ) ā 1 ā ā ā Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 13 $ (2 ) $ (5 ) $ ā $ ā $ ā Huntsman International Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss $ 40 $ 19 $ 18 $ 87 $ 101 $ 117 Amortization of actuarial loss (28 ) (26 ) (34 ) (57 ) (48 ) (41 ) Current year prior service credit ā ā ā ā (10 ) 4 Amortization of prior service credit 2 2 2 5 4 5 Settlements (42 ) ā (2 ) ā 1 ā Curtailment (gain)/loss ā ā ā ā ā ā Total recognized in other comprehensive income (loss) (28 ) (5 ) (16 ) 35 48 85 Amounts related to discontinued operations 17 9 (4 ) ā ā ā Total recognized in other comprehensive income (loss) in continuing operations (11 ) 4 (20 ) 35 48 85 Net periodic benefit cost 25 29 39 (6 ) 10 (4 ) Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 14 $ 33 $ 19 $ 29 $ 58 $ 81 Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss $ 9 $ ā $ (10 ) $ ā $ ā $ ā Amortization of actuarial loss (1 ) (1 ) (2 ) ā ā ā Current year prior service credit ā ā ā ā ā ā Amortization of prior service credit 5 5 6 ā ā ā Settlements (1 ) ā ā ā ā ā Curtailment (gain)/loss 2 ā ā ā ā ā Total recognized in other comprehensive income (loss) 14 4 (6 ) ā ā ā Amounts related to discontinued operations ā (6 ) ā ā ā ā Total recognized in other comprehensive income (loss) in continuing operations 14 (2 ) (6 ) ā ā ā Net periodic benefit cost (1 ) ā 1 ā ā ā Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 13 $ (2 ) $ (5 ) $ ā $ ā $ ā 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 2020 2019 2018 2020 2019 2018 Projected benefit obligation Discount rate 2.82 % 3.59 % 4.39 % 0.69 % 1.07 % 1.75 % Rate of compensation increase 4.09 % 4.09 % 4.10 % 2.59 % 2.65 % 2.95 % Interest credit rate 5.15 % 5.15 % 5.15 % 0.33 % 0.49 % 1.04 % Net periodic pension cost Discount rate 3.59 % 4.39 % 3.74 % 1.07 % 1.75 % 1.65 % Rate of compensation increase 4.09 % 4.07 % 4.10 % 2.65 % 2.64 % 3.38 % Expected return on plan assets 7.52 % 7.52 % 7.52 % 5.89 % 5.89 % 5.88 % Interest credit rate 5.15 % 5.15 % 5.15 % 0.49 % 1.04 % 0.88 % Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Projected benefit obligation Discount rate 2.63 % 3.46 % 4.26 % 2.30 % 2.90 % 3.50 % Net periodic pension cost Discount rate 3.46 % 4.26 % 3.58 % 2.90 % 3.50 % 3.30 % 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, 2020 2019 U.S. plans Non-U.S. plans 2020 2019 2020 2019 Projected benefit obligation in excess of plan assets Projected benefit obligation $ 1,091 $ 1,024 $ 2,017 $ 2,203 Fair value of plan assets 866 790 1,551 1,777 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, 2020 2019 U.S. plans Non-U.S. plans 2020 2019 2020 2019 Accumulated benefit obligation in excess of plan assets Projected benefit obligation $ 1,091 $ 1,024 $ 1,203 $ 1,066 Accumulated benefit obligation 1,073 1,019 1,116 991 Fair value of plan assets 866 790 746 664 Expected future contributions and benefit payments related to continuing operations are as follows (dollars in millions): U.S. Plans Non-U.S. Plans Other Other Defined Postretirement Defined Postretirement Benefit Benefit Benefit Benefit Plans Plans Plans Plans 2021 expected employer contributions To plan trusts $ 14 $ 6 $ 40 $ ā Expected benefit payments 2021 59 6 86 ā 2022 65 6 87 ā 2023 70 5 92 ā 2024 66 5 90 ā 2025 100 5 92 ā 2026 - 2030 316 24 493 ā 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 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 2020 3 one 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 $3.1 billion and $2.8 billion at December 31, 2020 2019 Fair Value Amounts Using Quoted prices in active Significant other Significant December 31, markets for identical observable inputs unobservable inputs Asset category 2020 assets (Level 1) (Level 2) (Level 3) U.S. pension plans: Equities $ 481 $ 315 $ 166 $ ā Fixed income 323 242 81 ā Real estate/other 62 ā ā 62 Cash ā ā ā ā Total U.S. pension plan assets $ 866 $ 557 $ 247 $ 62 Non-U.S. pension plans: Equities $ 564 $ 229 $ 335 $ ā Fixed income 971 610 361 ā Real estate/other 628 93 459 76 Cash 62 59 3 ā Total Non-U.S. pension plan assets $ 2,225 $ 991 $ 1,158 $ 76 Fair Value Amounts Using Quoted prices in active Significant other Significant December 31, Markets for identical Observable inputs Unobservable inputs Asset category 2019 assets (Level 1) (Level 2) (Level 3) U.S. pension plans: Equities $ 422 $ 283 $ 139 $ ā Fixed income 301 220 81 ā Real estate/other 67 ā ā 67 Cash ā ā ā ā Total U.S. pension plan assets $ 790 $ 503 $ 220 $ 67 Non-U.S. pension plans: Equities $ 535 $ 228 $ 307 $ ā Fixed income 847 560 287 ā Real estate/other 505 99 349 57 Cash 73 72 1 ā Total Non-U.S. pension plan assets $ 1,960 $ 959 $ 944 $ 57 The following table reconciles the beginning and ending balances of plan assets measured at fair value using unobservable inputs (Level 3 Real Estate/Other Year ended December 31, 2020 2019 Fair Value Measurements of Plan Assets Using Significant Unobservable Inputs (Level 3) Balance at beginning of period $ 124 $ 121 Return on pension plan assets 5 4 Purchases, sales and settlements (2 ) (1 ) Transfers into (out of) Level 3 11 ā Balance at end of period $ 138 $ 124 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 5.68% and 7.53%. The asset allocation for our pension plans at December 31, 2020 2019 2021, Target Allocation Allocation at December 31, Asset category 2021 2020 2019 U.S. pension plans: Equities 54 % 56 % 54 % Fixed income 39 % 37 % 38 % Real estate/other 4 % 7 % 8 % Cash 3 % ā % ā % Total U.S. pension plans 100 % 100 % 100 % Non-U.S. pension plans: Equities 26 % 25 % 27 % Fixed income 48 % 44 % 43 % Real estate/other 14 % 28 % 26 % Cash 12 % 3 % 4 % Total non-U.S. pension plans 100 % 100 % 100 % Equity securities in our pension plans did not 2020 D efined C ontribution P lans āU.S. We had a money purchase pension plan that covered substantially all of our domestic employees who were hired prior to January 1, 2004. 2014, 2015, We have a salary deferral plan covering substantially all U.S. employees. Plan participants may not not not Our total combined expense for the above defined contribution plans for each of the years ended December 31, 2020, 2019 2018 D efined C ontribution lans āN on We have defined contribution plans in a variety of non-U.S. locations. All UK associates are eligible to participate in the Huntsman UK Pension Plan, a contract-based arrangement with a third five not Our total combined expense for these defined contribution plans for the years ended December 31, 2020, 2019 2018 S S D P S E R P The Huntsman Supplemental Savings Plan (the āSSPā) 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 January 1, 2005 409A 1986. The Huntsman Supplemental Executive Retirement Plan (the āSERPā) is an unfunded non-qualified pension plan established to provide certain executive employees with benefits that could not Assets of these plans are included in other noncurrent assets and as of December 31, 2020 2019 December 31, 2020, 2019 2018 S B I P On May 5, 2016, 2016 ā2016 no may 2016 may may 2016 December 31, 2020 2016 24. I P 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. |
Note 20 - Income Taxes
Note 20 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 20 . 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, 2020 2019 2018 Income tax expense (benefit): U.S. Current $ (216 ) $ (17 ) $ 57 Deferred 167 (181 ) (30 ) Non-U.S. Current 90 71 153 Deferred 5 89 (135 ) Total $ 46 $ (38 ) $ 45 Huntsman International Year ended December 31, 2020 2019 2018 Income tax expense (benefit): U.S. Current $ (215 ) $ (21 ) $ 57 Deferred 166 (179 ) (34 ) Non-U.S. Current 90 70 153 Deferred 5 89 (135 ) Total $ 46 $ (41 ) $ 41 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, 2020 2019 2018 Income from continuing operations before income taxes $ 337 $ 391 $ 734 Expected tax expense at U.S. statutory rate of 21% $ 71 $ 82 $ 154 Change resulting from: State tax expense net of federal benefit (4 ) (3 ) (1 ) Non-U.S. tax rate differentials 16 9 27 Other non-U.S. tax effects, including nondeductible expenses and other withholding taxes 5 13 8 U.S. Tax Reform Act impact ā (1 ) 32 Currency exchange gains/losses(net) ā (5 ) (10 ) Venator investment basis difference and fair market value adjustments ā (199 ) 18 Tax losses related to Venator investment ā (18 ) ā Non-U.S. income subject to U.S. tax not offset by U.S. foreign tax credits 7 7 16 Tax authority audits and dispute resolutions 1 (6 ) 5 Share-based compensation excess tax benefits (1 ) (4 ) (14 ) Change in valuation allowance (14 ) 56 (185 ) Deferred tax effects of non-U.S. tax rate changes (2 ) 36 (2 ) Impact of equity method investments (10 ) (13 ) (14 ) Sale of the India-based DIY business (35 ) ā Non-U.S. withholding tax on repatriated earnings, net of U.S. foreign tax credits 20 6 11 Other U.S. tax effects, including nondeductible expenses and other credits (8 ) 2 ā Total income tax expense (benefit) $ 46 $ (38 ) $ 45 Huntsman International Year ended December 31, 2020 2019 2018 Income from continuing operations before income taxes $ 338 $ 377 $ 716 Expected tax expense at U.S. statutory rate of 21% $ 71 $ 79 $ 150 Change resulting from: State tax expense net of federal benefit (4 ) (3 ) (1 ) Non-U.S. tax rate differentials 16 9 27 Other non-U.S. tax effects, including nondeductible expenses and other withholding taxes 5 13 8 U.S. Tax Reform Act impact ā (1 ) 32 Currency exchange gains/losses(net) ā (5 ) (10 ) Venator investment basis difference and fair market value adjustments ā (199 ) 18 Tax losses related to Venator investment ā (18 ) ā Non-U.S. income subject to U.S. tax not offset by U.S. foreign tax credits 7 7 16 Tax authority audits and dispute resolutions 1 (6 ) 5 Share-based compensation excess tax benefits (1 ) (4 ) (14 ) Change in valuation allowance (14 ) 56 (185 ) Deferred tax effects of non-U.S. tax rate changes (2 ) 36 (2 ) Impact of equity method investments (10 ) (13 ) (14 ) Sale of the India-based DIY business (35 ) ā ā Non-U.S. withholding tax on repatriated earnings, net of U.S. foreign tax credits 20 6 11 Other U.S. tax effects, including nondeductible expenses and other credits (8 ) 2 ā Total income tax expense (benefit) $ 46 $ (41 ) $ 41 During 2020, 2019 2018, 2020, 25% 25% 25% 25% 21% 2020, 2019 2018, nil, In 2019, January 1, 2019, December 31, 2019. Under the U.S. Tax Reform Actās global intangible low-taxed income (āGILTIā) provision, our non-U.S. operations are generally subject to U.S. tax. We have elected to treat the GILTI as a current-period expense when incurred. The stated purpose of the GILTI rules is to generate additional U.S. tax related to income in non-U.S. jurisdictions which incur less than a blended 13.125% 13.125% 2020, 2019 2018 In 2017, 2018, not The 2020 The components of income (loss) from continuing operations before income taxes were as follows (dollars in millions): Huntsman Corporation Year ended December 31, 2020 2019 2018 U.S. $ (231 ) $ (106 ) $ (38 ) Non-U.S. 568 497 772 Total $ 337 $ 391 $ 734 Huntsman International Year ended December 31, 2020 2019 2018 U.S. $ (230 ) $ (120 ) $ (56 ) Non-U.S. 568 497 772 Total $ 338 $ 377 $ 716 Components of deferred income tax assets and liabilities were as follows (dollars in millions): Huntsman Corporation December 31, 2020 2019 Deferred income tax assets: Net operating loss carryforwards $ 258 $ 281 Pension and other employee compensation 184 172 Property, plant and equipment 15 15 Intangible assets 52 56 Basis difference in Venator investment 35 199 Operating leases 111 98 Capital loss carryovers 30 11 Deferred interest 28 19 Other, net 44 42 Total $ 757 $ 893 Deferred income tax liabilities: Property, plant and equipment $ (249 ) $ (218 ) Pension and other employee compensation (4 ) (1 ) Intangible assets (72 ) (27 ) Unrealized currency gains (14 ) (43 ) Operating leases (114 ) (102 ) Other, net (22 ) (8 ) Total $ (475 ) $ (399 ) Net deferred tax asset before valuation allowance $ 282 $ 494 Valuation allowanceānet operating losses and other (206 ) (231 ) Net deferred tax asset $ 76 $ 263 Non-current deferred tax asset 288 292 Non-current deferred tax liability (212 ) (29 ) Net deferred tax asset $ 76 $ 263 Huntsman International December 31, 2020 2019 Deferred income tax assets: Net operating loss carryforwards $ 258 $ 281 Pension and other employee compensation 184 172 Property, plant and equipment 15 15 Intangible assets 52 56 Basis difference in Venator investment 35 199 Operating leases 111 98 Capital loss carryovers 30 11 Deferred interest 28 19 Other, net 44 42 Total $ 757 $ 893 Deferred income tax liabilities: Property, plant and equipment $ (249 ) $ (218 ) Pension and other employee compensation (4 ) (1 ) Intangible assets (72 ) (27 ) Unrealized currency gains (14 ) (43 ) Operating leases (114 ) (102 ) Other, net (24 ) (8 ) Total $ (477 ) $ (399 ) Net deferred tax asset before valuation allowance $ 280 $ 494 Valuation allowanceānet operating losses and other (206 ) (231 ) Net deferred tax asset $ 74 $ 263 Non-current deferred tax asset 288 292 Non-current deferred tax liability (214 ) (29 ) Net deferred tax asset $ 74 $ 263 We evaluate deferred tax assets to determine whether it is more likely than not We have gross net operating losses (āNOLsā) of $1,037 million ($240 million tax-effected) in various non-U.S. jurisdictions. While the majority of the non-U.S. NOLs have no 2021, 2020 2019, We have gross U.S. federal NOLs of $71 million ($15 million tax-effected), which were primarily acquired through acquisitions subject to tax change of control limitations. We expect to be able to utilize the all of these NOLs, and therefore they are not Included in the $1,037 million of gross non-U.S. NOLs is $472 million ($118 million tax-effected) attributable to our Luxembourg entities. As of December 31, 2020, We have $30 million tax-effected U.S. capital loss carryovers generated in 2020. may 5 During 2019, December 31, 2023, 2020, During 2019, no not During 2018, seven second 2018. second 2018. third 2018 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 2020 2019 2018 Valuation allowance as of January 1 $ 231 $ 215 $ 412 Valuation allowance as of December 31 206 231 215 Net decrease (increase) 25 (16 ) 197 Foreign currency movements 6 ā 3 Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances (17 ) (40 ) (15 ) Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 Components of change in valuation allowance affecting tax expense: Pre-tax income and losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ 14 $ (133 ) $ 53 Releases of valuation allowances in various jurisdictions ā ā 132 Establishments of valuation allowances in various jurisdictions ā 77 ā Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 Huntsman International 2020 2019 2018 Valuation allowance as of January 1 $ 231 $ 215 $ 412 Valuation allowance as of December 31 206 231 215 Net decrease (increase) 25 (16 ) 197 Foreign currency movements 6 ā 3 Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances (17 ) (40 ) (15 ) Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 Components of change in valuation allowance affecting tax expense: Pre-tax income and losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ 14 $ (133 ) $ 53 Releases of valuation allowances in various jurisdictions ā ā 132 Establishments of valuation allowances in various jurisdictions ā 77 ā Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 The following is a reconciliation of our unrecognized tax benefits (dollars in millions): 2020 2019 Unrecognized tax benefits as of January 1 $ 28 $ 26 Gross increases and decreasesātax positions taken during a prior period 2 4 Gross increases and decreasesātax positions taken during the current period 1 1 Decreases related to settlements of amounts due to tax authorities (12 ) ā Reductions resulting from the lapse of statutes of limitation (2 ) (4 ) Foreign currency movements (1 ) 1 Unrecognized tax benefits as of December 31 $ 16 $ 28 As of December 31, 2020 2019 not During 2020, 2019, 2018, not During 2020, not 2019, not 2018, not 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, 2020 2019 2018 Interest expense included in tax expense $ 1 $ 2 $ ā Penalties expense included in tax expense ā 2 ā December 31, 2020 2019 Accrued liability for interest $ 4 $ 5 Accrued liability for penalties ā 2 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 Belgium 2018 and later China 2010 and later France 2018 and later Germany 2016 and later Hong Kong 2014 and later India 2004 and later Italy 2015 and later Japan 2017 and later Mexico 2014 and later Spain 2013 and later Switzerland 2014 and later The Netherlands 2016 and later Thailand 2013 and later United Kingdom 2017 and later United States federal 2017 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 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 $0 million to $2 million. For the 12-month period from the reporting date, we would expect that a decrease in our unrecognized tax benefits would result in a corresponding benefit to our income tax expense. In connection with the provisions of U.S. Tax Reform, all non-U.S. earnings have generally been subject to U.S. tax and may may not |
Note 21 - Commitments and Conti
Note 21 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 21 . COMMITMENTS AND CONTINGENCIES P C We have various purchase commitments extending through 2039 one 2020 no nil December 31, 2020, 2019 2018 Total purchase commitments as of December 31, 2020 Year ending December 31, 2021 $ 1,413 2022 982 2023 818 2024 696 2025 648 Thereafter 1,924 $ 6,481 L M We are a party to various 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 |
Note 22 - Environmental, Health
Note 22 - Environmental, Health and Safety Matters | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Environmental Loss Contingency Disclosure [Text Block] | 2 2 . ENVIRONMENTAL, HEALTH AND SAFETY MATTERS EHS C apital xpenditures We may December 31, 2020, 2019 2018 may E nvironmental eserves 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 $4 December 31, 2020 2019 December 31, 2020 2019 December 31, 2020 2019 may may not E nvironmental M atters Under the Comprehensive Environmental Response, Compensation, and Liability Act (āCERCLAā) and similar state laws, a current or former owner or operator of real property in the U.S. may may third not not third Under the Resource Conservation and Recovery Act (āRCRAā) in the U.S. and similar state laws, we may may North Maybe Canyon 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, February 2010, |
Note 23 - Huntsman Corporation
Note 23 - Huntsman Corporation Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 2 3 . HUNTSMAN CORPORATION STOCKHOLDERSā EQUITY S hare epurchase rogram On February 7, 2018 May 3, 2018, September 2015 may may first 2020, first 2020, 19. D C S The following tables represent dividends on common stock for our Company for the years ended December 31, 2020 2019 2020 Approximate Per share amount Quarter ended payment amount paid March 31, 2020 $ 0.1625 $ 37 June 30, 2020 0.1625 36 September 30, 2020 0.1625 36 December 31, 2020 0.1625 35 2019 Approximate Per share amount Quarter ended payment amount paid March 31, 2019 $ 0.1625 $ 39 June 30, 2019 0.1625 38 September 30, 2019 0.1625 38 December 31, 2019 0.1625 35 |
Note 24 - Stock-based Compensat
Note 24 - Stock-based Compensation Plan | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 2 4 . STOCK-BASED COMPENSATION PLAN Under the 2016 may may 2016 2016 may December 31, 2020 2016 three The compensation cost under the 2016 Year ended December 31, 2020 2019 2018 Huntsman Corporation compensation cost $ 27 $ 29 $ 27 Huntsman International compensation cost 26 28 26 The total income tax benefit recognized in the statement of operations for stock-based compensation arrangements was $4 million, $8 million and $18 million for the years ended December 31, 2020, 2019 2018 S O 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 employeesā 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, 2020 2019 2018 Dividend yield 3.0 % 2.9 % 1.6 % Expected volatility 53.1 % 54.0 % 55.2 % Risk-free interest rate 1.4 % 2.5 % 2.6 % Expected life of stock options granted during the period (in years) 5.9 5.9 5.9 A summary of stock option activity under the 2016 December 31, 2020 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Option Awards Shares Price Term Value (in thousands) (years) (in millions) Outstanding at January 1, 2020 5,025 $ 19.08 Granted 788 21.52 Exercised (829 ) 12.81 Forfeited (169 ) 24.28 Outstanding at December 31, 2020 4,815 20.37 6.0 $ 26 Exercisable at December 31, 2020 3,371 19.23 4.9 22 The weighted-average grant-date fair value of stock options granted during 2020 2019 2018 December 31, 2020 2016 During the years ended December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 N S Nonvested shares granted under the 2016 The fair value of each performance share unit 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 years ended December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 three three A summary of the status of our nonvested shares as of December 31, 2020 Equity Awards Liability Awards Weighted Weighted Average Average Grant-Date Grant-Date Shares Fair Value Shares Fair Value (in thousands) (in thousands) Nonvested at January 1, 2020 1,640 $ 24.61 427 $ 24.80 Granted 848 21.92 238 21.53 Vested (577 ) (1)(2) 25.15 (218 ) 24.64 Forfeited (44 ) 26.44 (36 ) 23.71 Nonvested at December 31, 2020 1,867 23.18 411 23.08 ( 1 As of December 31, 2020 not 2020 not not ( 2 A total of 174,200 performance share unit awards are reflected in the vested shares in this table, which represents the target number of performance share unit awards for this grant and were included in the balance at December 31, 2019 December 31, 2020 As of December 31, 2020 December 31, 2020, 2019 2018 |
Note 25 - Other Comprehensive (
Note 25 - Other Comprehensive (Loss) Income | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 25. INCOME Other comprehensive loss consisted of the following (dollars in millions): Huntsman Corporation Pension and Other Foreign other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests Corporation Beginning balance, January 1, 2020 $ (369 ) $ (1,031 ) $ 8 $ 4 $ (1,388 ) $ 26 $ (1,362 ) Other comprehensive income (loss) before reclassifications, gross 29 (135 ) ā ā (106 ) (6 ) (112 ) Tax benefit 12 30 ā ā 42 ā 42 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 111 ā ā 111 ā 111 Tax expense ā (25 ) ā ā (25 ) ā (25 ) Net current-period other comprehensive income (loss) 41 (19 ) ā ā 22 (6 ) 16 Ending balance, December 31, 2020 $ (328 ) $ (1,050 ) $ 8 $ 4 $ (1,366 ) $ 20 $ (1,346 ) (a) Amounts are net of tax of $56 and $68 as of December 31, 2020 January 1, 2020 (b) Amounts are net of tax of $153 and $148 as of December 31, 2020 January 1, 2020 (c) See table below for details about these reclassifications. Pension and Other Foreign other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests Corporation Beginning balance, January 1, 2019 $ (371 ) $ (994 ) $ 8 $ 5 $ (1,352 ) $ 36 $ (1,316 ) Other comprehensive (loss) income before reclassifications, gross ā (112 ) ā (1 ) (113 ) 5 (108 ) Tax benefit 2 25 ā ā 27 ā 27 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 62 ā ā 62 ā 62 Tax expense ā (12 ) ā ā (12 ) ā (12 ) Net current-period other comprehensive (loss) income 2 (37 ) ā (1 ) (36 ) 5 (31 ) Acquisition of noncontrolling interest ā ā ā ā ā (15 ) (15 ) Ending balance, December 31, 2019 $ (369 ) $ (1,031 ) $ 8 $ 4 $ (1,388 ) $ 26 $ (1,362 ) (a) Amounts are net of tax of $68 and $71 as of December 31, 2019 January 1, 2019 (b) Amounts are net of tax of $148 and $135 as of December 31, 2019 January 1, 2019 (c) See table below for details about these reclassifications. Amounts reclassified from accumulated other comprehensive loss Affected line item in Details about Accumulated Other Year ended December 31, where net income Comprehensive Loss Components(a): 2020 2019 2018 is presented Amortization of pension and other postretirement benefits: Prior service credit $ (12 ) $ (11 ) $ (12 ) (b) Settlement loss 43 1 2 Curtailment gain (2 ) ā ā Actuarial loss 82 72 87 (b)(c) 111 62 77 Total before tax (25 ) (12 ) (13 ) Income tax expense Total reclassifications for the period $ 86 $ 50 $ 64 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 āNote 19. (c) Amounts contain approximately $5, $7 and $22 of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2020, 2019 2018 Huntsman International Pension Other Foreign and other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests International Beginning balance, January 1, 2020 $ (374 ) $ (1,012 ) $ 8 $ ā $ (1,378 ) $ 26 $ (1,352 ) Other comprehensive income (loss) before reclassifications, gross 29 (135 ) ā ā (106 ) (6 ) (112 ) Tax benefit 12 30 ā ā 42 ā 42 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 115 ā ā 115 ā 115 Tax expense ā (26 ) ā ā (26 ) ā (26 ) Net current-period other comprehensive (loss) income 41 (16 ) ā ā 25 (6 ) 19 Ending balance, December 31, 2020 $ (333 ) $ (1,028 ) $ 8 $ ā $ (1,353 ) $ 20 $ (1,333 ) (a) Amounts are net of tax of $43 and $55 as of December 31, 2020 January 1, 2020 (b) Amounts are net of tax of $178 and $174 as of December 31, 2020 January 1, 2020 (c) See table below for details about these reclassifications. Pension Other Foreign and other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests International Beginning balance, January 1, 2019 $ (376 ) $ (977 ) $ 8 $ 1 $ (1,344 ) $ 36 $ (1,308 ) Other comprehensive (loss) income before reclassifications, gross ā (113 ) ā (1 ) (114 ) 5 (109 ) Tax benefit 2 25 ā ā 27 ā 27 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 65 ā ā 65 ā 65 Tax expense ā (12 ) ā ā (12 ) ā (12 ) Net current-period other comprehensive (loss) income 2 (35 ) ā (1 ) (34 ) 5 (29 ) Acquisition of noncontrolling interest ā ā ā ā ā (15 ) (15 ) Ending balance, December 31, 2019 $ (374 ) $ (1,012 ) $ 8 $ ā $ (1,378 ) $ 26 $ (1,352 ) (a) Amounts are net of tax of $55 and $57 as of December 31, 2019 January 1, 2019 (b) Amounts are net of tax of $174 and $161 as of December 31, 2019 January 1, 2019 (c) See table below for details about these reclassifications. Amounts reclassified from accumulated other comprehensive loss Affected line item in Details about Accumulated Other Year ended December 31, where net income Comprehensive Loss Components(a): 2020 2019 2018 is presented Amortization of pension and other postretirement benefits: Prior service credit $ (12 ) $ (11 ) $ (12 ) (b) Settlement loss 43 1 2 (c) Curtailment gain (2 ) ā ā (c) Actuarial loss 86 75 90 (b)(c) 115 65 80 Total before tax (26 ) (12 ) (14 ) Income tax expense Total reclassifications for the period $ 89 $ 53 $ 66 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 āNote 19. (c) Amounts contain approximately $5, $7 and $22 of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2020, 2019 2018 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. |
Note 26 - Related Party Transac
Note 26 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 2 6 . RELATED PARTY TRANSACTIONS Our consolidated financial statements include the following transactions with our affiliates not Year ended December 31, 2020 2019 2018 Sales to: Unconsolidated affiliates $ 115 $ 133 $ 153 Inventory purchases from: Unconsolidated affiliates 407 434 411 |
Note 27 - Operating Segment Inf
Note 27 - Operating Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 27. 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 four The major products of each reportable operating segment are as follows: Segment Products Polyurethanes MDI, polyols, TPU and other polyurethane-related products Performance Products Specialty amines, ethyleneamines, maleic anhydride 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 and dyes Sales between segments are generally recognized at external market prices and are eliminated in consolidation. We use adjusted EBITDA to measure the financial performance of our global business units and for reporting the results of our operating segments. This measure includes all operating items relating to the businesses. The adjusted EBITDA of operating segments excludes items that principally apply to our Company as a whole. The revenues and adjusted EBITDA for each of our reportable operating segments are as follows (dollars in millions): Year ended December 31, 2020 2019 2018 Revenues: Polyurethanes $ 3,584 $ 3,911 $ 4,282 Performance Products 1,023 1,158 1,301 Advanced Materials 839 1,044 1,116 Textile Effects 597 763 824 Corporate and eliminations (25 ) (79 ) 81 Total $ 6,018 $ 6,797 $ 7,604 Huntsman Corporation: Segment adjusted EBITDA (1) Polyurethanes $ 472 $ 548 $ 809 Performance Products 164 168 197 Advanced Materials 130 201 225 Textile Effects 42 84 101 Corporate and other (2) (161 ) (155 ) (171 ) Total 647 846 1,161 Reconciliation of adjusted EBITDA to net income: Interest expense, netācontinuing operations (86 ) (111 ) (115 ) Interest expense, netādiscontinued operations ā ā (36 ) Income tax (expense) benefitācontinuing operations (46 ) 38 (45 ) Income tax expenseādiscontinued operations (242 ) (35 ) (86 ) Depreciation and amortizationācontinuing operations (283 ) (270 ) (255 ) Depreciation and amortizationādiscontinued operations ā (61 ) (88 ) Net income attributable to noncontrolling interests 32 36 313 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments (31 ) (5 ) (9 ) Merger costs ā ā (2 ) EBITDA from discontinued operations 1,017 265 171 Noncontrolling interest of discontinued operations ā ā (232 ) Fair value adjustments to Venator investment and related loss on disposal (88 ) (18 ) (62 ) Loss on early extinguishment of debt ā (23 ) (3 ) Certain legal and other settlements and related expenses (5 ) (6 ) (1 ) Gain (loss) on sale of businesses/assets 280 (21 ) ā Income from transition services arrangements 7 ā ā Certain nonrecurring information technology project implementation costs (6 ) (4 ) ā Amortization of pension and postretirement actuarial losses (76 ) (66 ) (67 ) Plant incident remediation costs (2 ) (8 ) ā Restructuring, impairment and plant closing and transition (costs) credits (52 ) 41 6 Net income $ 1,066 $ 598 $ 650 Year ended December 31, 2020 2019 2018 Depreciation and Amortization: Polyurethanes $ 130 $ 120 $ 108 Performance Products 79 81 78 Advanced Materials 45 36 37 Textile Effects 16 16 16 Corporate and other 13 17 16 Total $ 283 $ 270 $ 255 Year ended December 31, 2020 2019 2018 Capital Expenditures: Polyurethanes $ 172 $ 185 $ 153 Performance Products 32 32 48 Advanced Materials 21 24 20 Textile Effects 12 22 20 Corporate and other 12 11 10 Total $ 249 $ 274 $ 251 December 31, 2020 2019 Total Assets: Polyurethanes $ 3,970 $ 3,437 Performance Products 1,062 1,125 Advanced Materials 1,002 774 Textile Effects 481 511 Corporate and other 2,198 1,265 Total $ 8,713 $ 7,112 December 31, 2020 2019 Goodwill: Polyurethanes $ 312 $ 177 Performance Products 18 16 Advanced Materials 203 83 Total $ 533 $ 276 Year ended December 31, 2020 2019 2018 Huntsman International: Segment adjusted EBITDA (1) Polyurethanes $ 472 $ 548 $ 809 Performance Products 164 168 197 Advanced Materials 130 201 225 Textile Effects 42 84 101 Corporate and other (2) (155 ) (150 ) (167 ) Total 653 851 1,165 Reconciliation of adjusted EBITDA to net income: Interest expense, netācontinuing operations (88 ) (126 ) (136 ) Interest expense, netādiscontinued operations ā ā (36 ) Income tax (expense) benefitācontinuing operations (46 ) 41 (41 ) Income tax expenseādiscontinued operations (242 ) (35 ) (86 ) Depreciation and amortizationācontinuing operations (283 ) (270 ) (252 ) Depreciation and amortizationādiscontinued operations ā (61 ) (88 ) Net income attributable to noncontrolling interests 32 36 313 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments (31 ) (5 ) (9 ) Merger costs ā ā (2 ) EBITDA from discontinued operations 1,017 265 171 Noncontrolling interest of discontinued operations ā ā (232 ) Fair value adjustments to Venator investment and related loss on disposal (88 ) (18 ) (62 ) Loss on early extinguishment of debt ā (23 ) (3 ) Certain legal and other settlements and related expenses (5 ) (6 ) (1 ) Gain (loss) on sale of businesses/assets 280 (21 ) ā Income from transition services arrangements 7 ā ā Certain nonrecurring information technology project implementation costs (6 ) (4 ) ā Amortization of pension and postretirement actuarial losses (79 ) (70 ) (71 ) Plant incident remediation costs (2 ) (8 ) ā Restructuring, impairment and plant closing and transition (costs) credits (52 ) 41 6 Net income $ 1,067 $ 587 $ 636 Year ended December 31, 2020 2019 2018 Depreciation and Amortization: Polyurethanes $ 130 $ 120 $ 108 Performance Products 79 81 78 Advanced Materials 45 36 37 Textile Effects 16 16 16 Corporate and other 13 17 13 Total $ 283 $ 270 $ 252 Year ended December 31, 2020 2019 2018 Capital Expenditures: Polyurethanes $ 172 $ 185 $ 153 Performance Products 32 32 48 Advanced Materials 21 24 20 Textile Effects 12 22 20 Corporate and other 12 11 10 Total $ 249 $ 274 $ 251 December 31, 2020 2019 Total Assets: Polyurethanes $ 3,970 $ 3,437 Performance Products 1,062 1,125 Advanced Materials 1,002 774 Textile Effects 481 511 Corporate and other 2,241 1,668 Total $ 8,756 $ 7,515 December 31, 2020 2019 Goodwill: Polyurethanes $ 312 $ 177 Performance Products 18 16 Advanced Materials 203 83 Total $ 533 $ 276 ( 1 We use segment adjusted EBITDA as the measure of each segmentās profit or loss. We believe that segment adjusted EBITDA more accurately reflects what the chief operating decision maker uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) business acquisition and integration expenses and purchase accounting inventory adjustments; (b) merger costs; (c) EBITDA from discontinued operations; (d) noncontrolling interest of discontinued operations; (e) fair value adjustments to Venator investment and related loss on disposal; (f) loss on early extinguishment of debt; (g) certain legal and other settlements and related expenses; (h) gain (loss) on sale of businesses/assets; (i) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (j) certain nonrecurring information technology project implementation costs; (k) amortization of pension and postretirement actuarial losses; (l) plant incident remediation costs; and (m) restructuring, impairment, plant closing and transition (costs) credits . ( 2 Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets. Year ended December 31, 2020 2019 2018 Revenues by geographic area (1) United States $ 1,863 $ 2,025 $ 2,136 China 1,115 1,076 1,260 Germany 388 541 537 India 211 319 352 Other nations 2,441 2,836 3,319 Total $ 6,018 $ 6,797 $ 7,604 December 31, 2020 2019 Long-lived assets (2) United States $ 1,078 $ 970 The Netherlands 368 334 China 251 247 Germany 144 137 Saudi Arabia 143 154 Singapore 90 94 Switzerland 73 106 Other nations 358 341 Total $ 2,505 $ 2,383 ( 1 Geographic information for revenues is based upon countries into which product is sold. ( 2 Long-lived assets consist of property, plant and equipment, net. |
Schedule I - Condensed Financia
Schedule I - Condensed Financial Information of Registrant | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Schedule IāCondensed Financial Information of Registrant HUNTSMAN CORPORATION (Parent Only) BALANCE SHEETS (In Millions, Except Share and Per Share Amounts) December 31, 2020 2019 ASSETS Cash and cash equivalents $ 2 $ ā Prepaid assets 2 1 Receivable from affiliate 3 86 Note receivable from affiliate ā 100 Total current assets 7 187 Note receivable from affiliate-noncurrent ā 280 Investment in and advances to affiliates 3,561 2,626 Total assets $ 3,568 $ 3,093 LIABILITIES AND STOCKHOLDERSā EQUITY Payable to affiliate $ 39 $ 396 Accrued liabilities 3 3 Total current liabilities 42 399 Other noncurrent liabilities 7 7 Total liabilities 49 406 STOCKHOLDERSā EQUITY Common stock $0.01 par value, 1,200,000,000 shares authorized, 258,520,411 and 257,405,496 shares issued and 220,046,262 and 224,295,868 shares outstanding, respectively 3 3 Additional paid-in capital 4,048 4,008 Treasury stock, 38,477,091 and 33,112,572 shares, respectively (731 ) (635 ) Unearned stock-based compensation (19 ) (17 ) Retained earnings 1,564 690 Accumulated other comprehensive loss (1,346 ) (1,362 ) Total stockholdersā equity 3,519 2,687 Total liabilities and stockholdersā equity $ 3,568 $ 3,093 This statement should be read in conjunction with the notes to the consolidated financial statements. HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF OPERATIONS (In Millions) Year ended December 31, 2020 2019 2018 Selling, general and administrative expenses $ (6 ) $ (5 ) $ (4 ) Interest income 2 15 21 Equity in income of subsidiaries 892 401 163 Dividend incomeāaffiliate 144 148 154 Other income 2 3 3 Net income $ 1,034 $ 562 $ 337 This statement should be read in conjunction with the notes to the consolidated financial statements. HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF COMPREHENSIVE INCOME (In Millions) Year ended December 31, 2020 2019 2018 Net income $ 1,034 $ 562 $ 337 Other comprehensive income, net of tax: Foreign currency translations adjustments 41 2 (192 ) Pension and other postretirement benefits adjustments (19 ) (37 ) (39 ) Other, net 32 35 304 Other comprehensive income, net of tax 54 ā 73 Comprehensive income 1,088 562 410 Comprehensive income attributable to noncontrolling interests (38 ) (31 ) (266 ) Comprehensive income attributable to Huntsman Corporation $ 1,050 $ 531 $ 144 This statement should be read in conjunction with the notes to the consolidated financial statements. HUNTSMAN CORPORATION (Parent Only) STATEMENTS OF STOCKHOLDERSā EQUITY (In Millions, Except Share Amounts) Huntsman Corporation Stockholdersā Equity Accumulated Shares Additional Unearned other Common Common paid-in Treasury stock-based Retained comprehensive Total stock stock capital stock compensation earnings loss equity Beginning balance, January 1, 2018 240,213,606 $ 3 $ 3,889 $ (150 ) $ (15 ) $ 161 $ (1,268 ) $ 2,620 Cumulative effect of changes in fair value of equity investments ā ā ā ā ā 10 (10 ) ā Net income ā ā ā ā ā 337 ā 337 Other comprehensive loss ā ā ā ā ā ā (198 ) (198 ) Issuance of nonvested stock awards ā ā 14 ā (14 ) ā ā ā Vesting of stock awards 1,135,003 ā 11 ā ā ā ā 11 Recognition of stock-based compensation ā ā 8 ā 13 ā ā 21 Repurchase and cancellation of stock awards (259,643 ) ā ā ā ā (30 ) ā (30 ) Stock options exercised 2,310,663 ā 46 ā ā (29 ) ā 17 Treasury stock repurchased (10,405,457 ) ā ā (277 ) ā ā ā (277 ) Disposition of a portion of Venator ā ā 18 ā ā ā ā 18 Costs of the secondary offering of Venator ā ā (2 ) ā ā ā ā (2 ) Deconsolidation of Venator ā ā ā ā ā ā 160 160 Accrued and unpaid dividends ā ā ā ā ā (1 ) ā (1 ) Dividends declared on common stock ā ā ā ā ā (156 ) ā (156 ) Balance, December 31, 2018 232,994,172 3 3,984 (427 ) (16 ) 292 (1,316 ) 2,520 Net income ā ā ā ā ā 562 ā 562 Other comprehensive loss ā ā ā ā ā ā (46 ) (46 ) Issuance of nonvested stock awards ā ā 17 ā (17 ) ā ā ā Vesting of stock awards 1,643,368 ā 7 ā ā ā ā 7 Recognition of stock-based compensation ā ā 7 ā 16 ā ā 23 Repurchase and cancellation of stock awards (488,441 ) ā ā ā ā (12 ) ā (12 ) Stock options exercised 246,661 ā 4 ā ā (2 ) ā 2 Treasury stock repurchased (10,099,892 ) ā ā (208 ) ā ā ā (208 ) Acquisition of noncontrolling interests, net of tax ā ā (11 ) ā ā ā ā (11 ) Dividends declared on common stock ā ā ā ā ā (150 ) ā (150 ) Balance, December 31, 2019 224,295,868 3 4,008 (635 ) (17 ) 690 (1,362 ) 2,687 Net income ā ā ā ā ā 1,034 ā 1,034 Other comprehensive loss ā ā ā ā ā ā 16 16 Issuance of nonvested stock awards ā ā 18 ā (18 ) ā ā ā Vesting of stock awards 960,406 ā 5 ā ā ā ā 5 Recognition of stock-based compensation ā ā 7 ā 16 ā ā 23 Repurchase and cancellation of stock awards (287,247 ) ā ā ā ā (8 ) ā (8 ) Stock options exercised 441,754 ā 10 ā ā (7 ) ā 3 Treasury stock repurchased (5,364,519 ) ā ā (96 ) ā ā ā (96 ) Dividends declared on common stock ā ā ā ā ā (145 ) ā (145 ) Balance, December 31, 2020 220,046,262 $ 3 $ 4,048 $ (731 ) $ (19 ) $ 1,564 $ (1,346 ) $ 3,519 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, 2020 2019 2018 Operating Activities: Net income $ 1,034 $ 562 $ 337 Equity in income of subsidiaries (892 ) (401 ) (163 ) Stock-based compensation 1 1 1 Noncash interest income (2 ) (15 ) (21 ) Changes in operating assets and liabilities (1 ) 13 19 Net cash provided by operating activities 140 160 173 Investing Activities: Repayments of loan by affiliate 380 207 255 Net cash provided by investing activities 380 207 255 Financing Activities: Dividends paid to common stockholders (144 ) (150 ) (156 ) Repurchase and cancellation of stock awards (8 ) (12 ) (30 ) Proceeds from issuance of common stock 3 2 17 Repurchase of common stock (96 ) (208 ) (277 ) (Decrease) increase in payable to affiliates (273 ) 1 16 Net cash used in financing activities (518 ) (367 ) (430 ) Increase (decrease) in cash and cash equivalents 2 ā (2 ) Cash and cash equivalents at beginning of period ā ā 2 Cash and cash equivalents at end of period $ 2 $ ā $ ā This statement should be read in conjunction with the notes to the consolidated financial statements. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | C arrying alue of ong ived ssets 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 |
Cash and Cash Equivalents, Policy [Policy Text Block] | C ash and ash quivalents We consider cash in checking accounts and cash in short-term highly liquid investments with original maturities of three |
Cost of Goods and Service [Policy Text Block] | C ost of oods old 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, Policy [Policy Text Block] | D erivatives and edging ctivities All derivatives, whether designated in hedging relationships or not, three not not |
Environmental Cost, Expense Policy [Policy Text Block] | E nvironmental xpenditures 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 āNote 22. |
Equity Method Investments [Policy Text Block] | E quity ethod nvestments We account for our equity investments where we own a non-controlling interest, but exercise significant influence, under the equity method of accounting. Under the equity method of accounting, our original cost of the investment is adjusted for our share of equity in the earnings of the equity investee and reduced by dividends and distributions of capital received, unless the fair value option is elected, in which case the investment balance is marked to fair value each reporting period and the impact of changes in fair value of the equity investment are reported in earnings. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | F oreign urrency ranslation 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 Foreign currency transaction gains and losses are recorded in other operating (income) expense, net in our consolidated statements of operations and were (losses) gains of $2 million, $(8) million and $3 million for the years ended December 31, 2020, 2019 2018 |
Income Tax, Policy [Policy Text Block] | I ncome axes 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 On December 22, 2017, January 1, 2018), January 1, 2018) In 2017, 2018, not 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 not 20. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | I ntangible ssets and oodwill 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: In Years Patents and technology 5 - 30 Trademarks 9 - 30 Licenses and other agreements 5 - 15 Other intangibles 5 - 20 Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not third not During 2020 3. 2019, |
Inventory, Policy [Policy Text Block] | I nventories Inventories are stated at the lower of cost or market, with cost determined using LIFO, first first |
Lessee, Leases [Policy Text Block] | L eases On January 1, 2019, No. 2018 11, three The determination of whether a contract is or contains a lease is performed at the lease inception date. Lease right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term, using incremental borrowing rates as the implicit rates are not 9. |
Legal Costs, Policy [Policy Text Block] | L egal osts We expense legal costs, including those legal costs incurred in connection with a loss contingency, as incurred. |
Earnings Per Share, Policy [Policy Text Block] | N et ncome er hare ttributable to untsman orporation 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, 2020 2019 2018 Numerator: Basic and diluted income from continuing operations: Income from continuing operations attributable to Huntsman Corporation $ 259 $ 393 $ 608 Basic and diluted net income: Net income attributable to Huntsman Corporation $ 1,034 $ 562 $ 337 Denominator: Weighted average shares outstanding 220.6 228.9 238.1 Dilutive shares: Stock-based awards 1.3 1.7 3.5 Total weighted average shares outstanding, including dilutive shares 221.9 230.6 241.6 Additional stock-based awards of 4.3 million, 3.0 million and 0.8 million weighted average equivalent shares of stock were outstanding during the years ended December 31, 2020, 2019 2018 not |
Other Noncurrent Assets [Policy Text Block] | O ther oncurrent ssets Periodic maintenance and repairs applicable to major units of manufacturing facilities (a āturnaroundā) 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. |
Consolidation, Policy [Policy Text Block] | P rinciples of onsolidation 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, Policy [Policy Text Block] | P roperty, lant and quipment 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: In Years Buildings and equipment 5 - 50 Plant and equipment 3 - 30 Furniture, fixtures and leasehold improvements 5 - 20 Interest expense capitalized as part of plant and equipment was $7 million, $4 million and $4 million for the years ended December 31, 2020, 2019 2018 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. |
Revenue from Contract with Customer [Policy Text Block] | R evenue ecognition We generate substantially all of our revenue through product sales in which revenue is recognized at a point in time. We recognize revenue when control of the promised goods is transferred to our customers. Control of goods usually passes to the customer at the time shipment is made. Revenue is measured as the amount that reflects the consideration that we expect to be entitled to in exchange for those goods. We generate substantially all of our revenues through sales in the open market and long-term supply agreements. We recognize revenue when control of the promised goods is transferred to our customers. Control of goods usually passes to the customer at the time shipment is made. Revenue is measured as the amount that reflects the consideration that we expect to be entitled to in exchange for those goods. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. We have elected to account for all shipping and handling activities as fulfillment costs. We have also elected to expense commissions when incurred as the amortization period of the commission asset that we would have otherwise recognized is less than one Substantially all of our revenue is generated through product sales in which revenue is recognized at a point in time. At contract inception, we assess the goods and services, if any, promised in our contracts and identify a performance obligation for each promise to transfer to the customer a good or service that is distinct. In substantially all cases, a contract has a single performance obligation to deliver a promised good to the customer. Revenue is recognized when control of the product is transferred to the customer (i.e., when our performance obligation is satisfied), which typically occurs at shipment. Further, in determining whether control has transferred, we consider if there is a present right to payment and legal title, along with risks and rewards of ownership having transferred to the customer. The amount of consideration we receive and revenue we recognize is based upon the terms stated in the sales contract, which may not one one not not 18. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | S ecuritization of ccounts eceivable Under our A/R Programs, we grant an undivided interest in certain of our trade receivables to the special purpose entities (āSPEā) in the U.S. and EU. 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 āNote 15. |
Share-based Payment Arrangement [Policy Text Block] | S tock ased ompensation 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, net of estimated forfeitures, will be recognized over the period during which the employee is required to provide services in exchange for the award. See āNote 24. |
Use of Estimates, Policy [Policy Text Block] | U E The preparation of financial statements in conformity with U.S. 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. |
New Accounting Pronouncements, Policy [Policy Text Block] | A P A D 2020 We adopted the following accounting pronouncements during 2020, not ā Financial Accounting Standards Board (āFASBā) Accounting Standards Update (āASUā) No. 2016 13, Financial InstrumentsāCredit Losses (Topic 326 ā FASB ASU No. 2018 14, CompensationāRetirement BenefitsāDefined Benefit PlansāGeneral (Topic 715 20 ā FASB ASU No. 2018 15, IntangiblesāGoodwill and OtherāInternal-Use Software (Subtopic 350 40 ā FASB ASU No. 2020 04, Reference Rate Reform (Topic 848 A P P A F uture P Eriods The following accounting pronouncement becomes effective subsequent to fiscal year 2020, not ā FASB ASU No. 2021 01, Reference Rate Reform (Topic 848 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Useful Life of Finite-lived Intangible Assets [Table Text Block] | In Years Patents and technology 5 - 30 Trademarks 9 - 30 Licenses and other agreements 5 - 15 Other intangibles 5 - 20 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2020 2019 2018 Numerator: Basic and diluted income from continuing operations: Income from continuing operations attributable to Huntsman Corporation $ 259 $ 393 $ 608 Basic and diluted net income: Net income attributable to Huntsman Corporation $ 1,034 $ 562 $ 337 Denominator: Weighted average shares outstanding 220.6 228.9 238.1 Dilutive shares: Stock-based awards 1.3 1.7 3.5 Total weighted average shares outstanding, including dilutive shares 221.9 230.6 241.6 |
Schedule of Property, Plant and Equipment, Useful Life [Table Text Block] | In Years Buildings and equipment 5 - 50 Plant and equipment 3 - 30 Furniture, fixtures and leasehold improvements 5 - 20 |
Note 3 - Business Combination_2
Note 3 - Business Combinations and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Fair value of assets acquired and liabilities assumed: Cash paid for the CVC Thermoset Specialties Acquisition $ 304 Accounts receivable $ 12 Inventories 37 Property, plant and equipment 67 Intangible assets 117 Goodwill 120 Accounts payable (7 ) Accrued liabilities (1 ) Deferred income taxes (41 ) Total fair value of net assets acquired $ 304 Fair value of assets acquired and liabilities assumed: Cash paid for the Icynene-Lapolla Acquisition $ 353 Cash $ 7 Accounts receivable 36 Inventories 32 Prepaid expenses and other current assets 1 Property, plant and equipment 7 Intangible assets 165 Goodwill 139 Other noncurrent assets 3 Accounts payable (13 ) Accrued liabilities (10 ) Deferred income taxes (14 ) Total fair value of net assets acquired $ 353 Fair value of assets acquired and liabilities assumed: Cash paid for the Demilec Acquisition $ 353 Cash $ 1 Accounts receivable 31 Inventories 23 Prepaid expenses and other current assets 1 Property, plant and equipment 21 Intangible assets 177 Goodwill 140 Accounts payable (16 ) Accrued liabilities (3 ) Deferred income taxes (22 ) Total fair value of net assets acquired $ 353 |
Business Acquisition, Pro Forma Information [Table Text Block] | Pro Forma (Unaudited) Year ended December 31, 2020 2019 Revenues $ 6,080 $ 7,140 Net income 1,063 616 Net income attributable to Huntsman Corporation 1,031 580 Pro Forma (Unaudited) Year ended December 31, 2020 2019 Revenues $ 6,080 $ 7,140 Net income 1,064 605 Net income attributable to Huntsman International 1,032 569 Pro Forma (Unaudited) Year ended December 31, 2018 Revenues $ 7,662 Net income 639 Net income attributable to Huntsman Corporation 326 Pro Forma (Unaudited) Year ended December 31, 2018 Revenues $ 7,662 Net income 625 Net income attributable to Huntsman International 312 |
Schedule of Effects of Changes in Ownership Interest in Joint Venture [Table Text Block] | Year ended December 31, 2019 2018 Net income attributable to Huntsman Corporation shareholders $ 562 $ 337 Decrease in Huntsman Corporationās paid-in capital for purchase of 50% interest in Sasol-Huntsman (11 ) ā Net transfers to noncontrolling interest (11 ) ā Change from net income attributable to Huntsman Corporation shareholders and transfers to noncontrolling interest $ 551 $ 337 Year ended December 31, 2019 2018 Net income attributable to Huntsman International shareholders $ 551 $ 323 Decrease in Huntsman Internationalās paid-in capital for purchase of 50% interest in Sasol-Huntsman (11 ) ā Net transfers to noncontrolling interest (11 ) ā Change from net income attributable to Huntsman International shareholders and transfers to noncontrolling interest $ 540 $ 323 |
Note 4 - Discontinued Operati_2
Note 4 - Discontinued Operations and Business Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | December 31, 2019 Carrying amounts of major classes of assets held for sale: Accounts receivable $ 145 Inventories 105 Property, plant and equipment, net 720 Operating lease right-of-use assets 69 Deferred income taxes 4 Other noncurrent assets 165 Total assets held for sale (1) $ 1,208 Carrying amounts of major classes of liabilities held for sale: Accounts payable $ 152 Accrued liabilities 26 Current operating lease liabilities 20 Deferred income taxes 135 Noncurrent operating lease liabilities 51 Other noncurrent liabilities 128 Total liabilities held for sale (1) $ 512 Year ended December 31, 2020 2019 2018 Major line items constituting pretax income of discontinued operations (1) Trade sales, services and fees, net (2) $ 7 $ 1,545 $ 3,923 Cost of goods sold (2) (37 ) 1,287 2,847 Gain on sale of the Chemical Intermediates Businesses 978 ā ā Other expense items, net that are not major 5 54 332 Income from discontinued operations before income taxes 1,017 204 744 Income tax expense (242 ) (35 ) (86 ) Loss on disposal ā ā (427 ) Valuation allowance ā ā (270 ) Income (loss) from discontinued operations, net of tax 775 169 (39 ) Net income attributable to noncontrolling interests ā ā (6 ) Net income (loss) attributable to discontinued operations $ 775 $ 169 $ (45 ) |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2020 2019 Raw materials and supplies $ 180 $ 175 Work in progress 44 49 Finished goods 651 718 Total 875 942 LIFO reserves (27 ) (28 ) Net inventories $ 848 $ 914 |
Note 6 - Property, Plant and _2
Note 6 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2020 2019 Land $ 97 $ 103 Buildings 540 605 Plant and equipment 5,039 4,695 Construction in progress 357 285 Total 6,033 5,688 Less accumulated depreciation (3,528 ) (3,305 ) Net $ 2,505 $ 2,383 December 31, 2020 2019 Land $ 97 $ 103 Buildings 540 605 Plant and equipment 5,127 4,749 Construction in progress 357 285 Total 6,121 5,742 Less accumulated depreciation (3,616 ) (3,359 ) Net $ 2,505 $ 2,383 |
Note 7 - Investment in Uncons_2
Note 7 - Investment in Unconsolidated Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Investments in and Advances to Affiliates [Table Text Block] | December 31, 2020 2019 Equity Method: Venator Materials PLC(1) $ ā $ 200 BASF Huntsman Shanghai Isocyanate Investment BV ( 50% 111 112 Nanjing Jinling Huntsman New Material Co., Ltd. ( 49% 229 196 Jurong Ningwu New Material Development Co., Ltd. ( 30% 33 27 Total investments $ 373 $ 535 |
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | December 31, 2020 2019 Current assets $ 1,544 $ 1,439 Non-current assets 2,317 2,436 Current liabilities 574 688 Non-current liabilities 1,804 1,614 Noncontrolling interests 6 7 Year ended December 31, 2020 2019 2018(1) Revenues $ 3,544 $ 4,025 $ 2,181 Gross profit 338 454 221 (Loss) income from continuing operations (2 ) 99 124 Net (loss) income (2 ) 99 124 |
Note 8 - Variable Interest En_2
Note 8 - Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | December 31, 2020 2019 Current assets $ 49 $ 50 Property, plant and equipment, net 167 180 Operating lease right-of-use assets 22 16 Other noncurrent assets 138 132 Deferred income taxes 30 30 Total assets $ 406 $ 408 Current liabilities $ 183 $ 151 Long-term debt 3 29 Noncurrent operating lease liabilities 17 11 Other noncurrent liabilities 82 87 Deferred income taxes 1 ā Total liabilities $ 286 $ 278 Year ended December 31, 2020 2019 (1) 2018 Revenues $ ā $ 95 $ 154 Income from continuing operations before income taxes 4 17 40 Net cash provided by operating activities 10 81 65 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Years Ended December 31, 2020 2019 Operating lease expense: Cost of goods sold $ 34 $ 35 Selling, general and administrative 26 15 Research and development 6 6 Total operating lease expense (1)(2) $ 66 $ 56 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 74 $ 53 Supplemental noncash information: Leased assets obtained in exchange for new operating lease liabilities $ 91 $ 416 |
Lease Quantitative Disclosure [Table Text Block] | Years Ended December 31, 2020 2019 Weighted-average remaining lease term (in years) 11 11 Weighted-average discount rate 4.0 % 4.1 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year ending December 31, 2021 $ 68 2022 62 2023 58 2024 55 2025 51 Thereafter 276 Total lease payments 570 Less imputed interest (107 ) Total $ 463 |
Note 10 - Intangible Assets (Ta
Note 10 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2020 December 31, 2019 Carrying Accumulated Carrying Accumulated Amount Amortization Net Amount Amortization Net Patents, trademarks and technology $ 316 $ 237 $ 79 $ 314 $ 230 $ 84 Licenses and other agreements 140 61 79 140 48 92 Non-compete agreements 3 2 1 3 2 1 Other intangibles(1) 349 55 294 61 41 20 Total $ 808 $ 355 $ 453 $ 518 $ 321 $ 197 December 31, 2020 December 31, 2019 Carrying Accumulated Carrying Accumulated Amount Amortization Net Amount Amortization Net Patents, trademarks and technology $ 316 $ 237 $ 79 $ 314 $ 230 $ 84 Licenses and other agreements 140 61 79 140 48 92 Non-compete agreements 3 2 1 3 2 1 Other intangibles(1) 357 63 294 70 50 20 Total $ 816 $ 363 $ 453 $ 527 $ 330 $ 197 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, 2021 $ 30 2022 34 2023 34 2024 34 2025 34 |
Note 11 - Other Noncurrent As_2
Note 11 - Other Noncurrent Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Other Assets, Noncurrent [Table Text Block] | December 31, 2020 2019 Capitalized turnaround costs, net $ 250 $ 223 Investment in Venator 32 ā Catalyst assets, net 27 24 Other 239 205 Total $ 548 $ 452 |
Note 12 - Accrued Liabilities (
Note 12 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2020 2019 Payroll and related accruals $ 97 $ 100 Income taxes 73 59 Taxes other than income taxes 56 64 Volume and rebate accruals 55 53 Other miscellaneous accruals 177 144 Total $ 458 $ 420 December 31, 2020 2019 Payroll and related accruals $ 97 $ 100 Income taxes 73 59 Taxes other than income taxes 56 64 Volume and rebate accruals 55 53 Other miscellaneous accruals 174 141 Total $ 455 $ 417 |
Note 13 - Restructuring, Impa_2
Note 13 - Restructuring, Impairment and Plant Closing Costs (Credits) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Non-cancelable Other Workforce Demolition and lease and contract restructuring reductions decommissioning termination costs costs Total Accrued liabilities as of January 1, 2018 $ 5 $ 2 $ 41 $ 5 $ 53 2018 charges for 2017 and prior initiatives ā ā 2 ā 2 2018 charges for 2018 initiatives 5 ā ā 10 15 2018 payments for 2017 and prior initiatives (2 ) (1 ) (2 ) ā (5 ) 2018 payments for 2018 initiatives (1 ) ā ā (5 ) (6 ) Reversal of reserves no longer required (2 ) ā (29 ) ā (31 ) Accrued liabilities as of December 31, 2018 5 1 12 10 28 2019 (credits) charges for 2018 and prior initiatives 2 (1 ) 2 3 6 2019 charges for 2019 initiatives 7 ā ā 1 8 2019 payments for 2018 and prior initiatives (4 ) ā (7 ) (9 ) (20 ) 2019 payments for 2019 initiatives ā ā ā (1 ) (1 ) Reversal of reserves no longer required (2 ) ā ā (2 ) (4 ) Accrued liabilities as of December 31, 2019 8 ā 7 2 17 2020 charges for 2019 and prior initiatives ā ā 2 3 5 2020 charges for 2020 initiatives 35 ā ā 3 38 2020 payments for 2019 and prior initiatives (5 ) ā (7 ) (4 ) (16 ) 2020 payments for 2020 initiatives (10 ) ā ā (3 ) (13 ) Reversal of reserves no longer required ā ā ā (1 ) (1 ) Foreign currency effect on liability balance 1 ā ā ā 1 Accrued liabilities as of December 31, 2020 $ 29 $ ā $ 2 $ ā $ 31 |
Schedule of Restructuring Reserve By Type of Cost and Segment [Table Text Block] | Performance Advanced Textile Corporate Polyurethanes Products Materials Effects and other Total Accrued liabilities as of January 1, 2018 $ 1 $ 1 $ 3 $ 47 $ 1 $ 53 2018 charges (credits) for 2017 and prior initiatives ā 1 ā (4 ) 5 2 2018 charges for 2018 initiatives ā 2 3 ā 10 15 2018 payments for 2017 and prior initiatives (1 ) (1 ) ā ā (3 ) (5 ) 2018 payments for 2018 initiatives ā (1 ) ā ā (5 ) (6 ) Reversal of reserves no longer required ā (1 ) ā (29 ) (1 ) (31 ) Accrued liabilities as of December 31, 2018 ā 1 6 14 7 28 2019 charges for 2018 and prior initiatives ā ā ā 2 4 6 2019 charges for 2019 initiatives ā ā 7 ā 1 8 2019 payments for 2018 and prior initiatives ā (1 ) (2 ) (9 ) (8 ) (20 ) 2019 payments for 2019 initiatives ā ā (1 ) ā ā (1 ) Reversal of reserves no longer required ā ā ā (4 ) ā (4 ) Accrued liabilities as of December 31, 2019 ā ā 10 3 4 17 2020 charges (credits) for 2019 and prior initiatives ā 1 (1 ) 1 4 5 2020 charges for 2020 initiatives 16 4 9 7 2 38 2020 payments for 2019 and prior initiatives (1 ) ā (5 ) (2 ) (8 ) (16 ) 2020 payments for 2020 initiatives (3 ) (3 ) (3 ) (2 ) (2 ) (13 ) Reversal of reserves no longer required ā ā (1 ) ā ā (1 ) Foreign currency effect on liability balance ā ā ā 1 ā 1 Accrued liabilities as of December 31, 2020 $ 12 $ 2 $ 9 $ 8 $ ā $ 31 Current portion of restructuring reserves $ 12 $ 2 $ 6 $ 6 $ ā $ 26 Long-term portion of restructuring reserves ā ā 3 2 ā 5 |
Schedule of Cash and Noncash Restructuring Charges By Type of Initiative [Table Text Block] | Cash charges: 2020 charges for 2019 and prior initiatives $ 5 2020 charges for 2020 initiatives 38 Reversal of reserves no longer required (1 ) Noncash charges: Accelerated depreciation 7 Total 2020 restructuring, impairment and plant closing costs $ 49 Cash charges: 2019 charges for 2018 and prior initiatives $ 6 2019 charges for 2019 initiatives 8 Reversal of reserves no longer required (4 ) Noncash charges: Gain on sale of assets (49 ) Other noncash credits (2 ) Total 2019 restructuring, impairment and plant closing costs $ (41 ) Cash charges: 2018 charges for 2017 and prior initiatives $ 2 2018 charges for 2018 initiatives 15 Noncash charges: Reversal of reserves no longer required (31 ) Other noncash charges 7 Total 2018 restructuring, impairment and plant closing costs $ (7 ) |
Note 14 - Other Noncurrent Li_2
Note 14 - Other Noncurrent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Other Noncurrent Liabilities [Table Text Block] | December 31, 2020 2019 Pension liabilities $ 680 $ 650 Other postretirement benefits 59 55 Employee benefit accrual 44 38 Other 127 155 Total $ 910 $ 898 December 31, 2020 2019 Pension liabilities $ 680 $ 650 Other postretirement benefits 59 55 Employee benefit accrual 44 38 Other 117 147 Total $ 900 $ 890 |
Note 15 - Debt (Tables)
Note 15 - Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, December 31, 2020 2019 Senior Credit Facilities: Revolving facility $ ā $ 40 Amounts outstanding under A/R programs ā 167 Term loan ā 103 Senior notes 2,047 1,963 Variable interest entities 50 65 Other 24 51 Total debt $ 2,121 $ 2,389 Total current portion of debt $ 593 $ 212 Long-term portion of debt 1,528 2,177 Total debt $ 2,121 $ 2,389 December 31, December 31, 2020 2019 Senior Credit Facilities: Revolving facility $ ā $ 40 Amounts outstanding under A/R programs ā 167 Term loan ā 103 Senior notes 2,047 1,963 Variable interest entities 50 65 Other 24 51 Total debt, excluding debt to affiliates $ 2,121 $ 2,389 Total current portion of debt $ 593 $ 212 Long-term portion of debt 1,528 2,177 Total debt, excluding debt to affiliates $ 2,121 $ 2,389 Notes payable to affiliates-current ā 100 Notes payable to affiliates-noncurrent ā 280 Total debt $ 2,121 $ 2,769 |
Schedule of Line of Credit Facilities [Table Text Block] | Unamortized Discounts and Committed Principal Debt Issuance Carrying Facility Amount Outstanding Costs Value Interest Rate (2) Maturity Revolving Credit Facility $ 1,200 $ ā (1) $ ā (1) $ ā (1) USD LIBOR plus 1.50% 2023 |
Schedule of Accounts Receivable Programs [Table Text Block] | Maximum Funding Amount Facility Maturity Availability (1) Outstanding Interest Rate (2) U.S. A/R Program April 2022 $ 150 $ ā (3) Applicable rate plus 0.90% EU A/R Program April 2022 ā¬ 100 ā¬ ā Applicable rate plus 1.30% (or approximately $123) (or approximately $0) |
Schedule of Notes Outstanding [Table Text Block] | Unamortized Premiums, Discounts and Debt Notes Maturity Interest Rate Amount Outstanding Issuance Costs 2021 Senior Notes April 2021 5.125 % ā¬445 (ā¬445 carrying value $(545)) $ ā 2022 Senior Notes November 2022 5.125 % $400 ($399 carrying value) 1 2025 Senior Notes April 2025 4.250 % ā¬300 (ā¬298 carrying value $(366)) 2 2029 Senior Notes February 2029 4.500 % $750 ($737 carrying value) 13 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year ending December 31, 2021 $ 593 2022 403 2023 1 2024 2 2025 369 Thereafter 753 $ 2,121 |
Note 17 - Fair Value (Tables)
Note 17 - Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2020 December 31, 2019 Carrying Estimated Carrying Estimated Value Fair Value Value Fair Value Non-qualified employee benefit plan investments $ 26 $ 26 $ 28 $ 28 Option agreement for remaining Venator shares 11 11 ā ā Long-term debt (including current portion) (2,121 ) (2,334 ) (2,389 ) (2,544 ) |
Note 18 - Revenue Recognition (
Note 18 - Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | 2020 Polyurethanes Performance Products Advanced Materials Textile Effects Corporate and Eliminations Total Primary Geographic Markets (1) U.S. and Canada $ 1,362 $ 447 $ 217 $ 48 $ (23 ) $ 2,051 Europe 961 252 319 98 (1 ) 1,629 Asia Pacific 997 260 224 360 ā 1,841 Rest of world 264 64 79 91 (1 ) 497 $ 3,584 $ 1,023 $ 839 $ 597 $ (25 ) $ 6,018 Major Product Groupings MDI urethanes $ 3,584 $ 3,584 Differentiated $ 1,023 1,023 Specialty $ 746 746 Non-specialty 93 93 Textile chemicals and dyes $ 597 597 Eliminations $ (25 ) (25 ) $ 3,584 $ 1,023 $ 839 $ 597 $ (25 ) $ 6,018 2019 Polyurethanes Performance Products Advanced Materials Textile Effects Corporate and Eliminations Total Primary Geographic Markets (1) U.S. and Canada $ 1,475 $ 531 $ 289 $ 62 $ (64 ) $ 2,293 Europe 1,051 316 410 128 (9 ) 1,896 Asia Pacific 1,078 248 269 446 (2 ) 2,039 Rest of world 307 63 76 127 (4 ) 569 $ 3,911 $ 1,158 $ 1,044 $ 763 $ (79 ) $ 6,797 Major Product Groupings MDI urethanes $ 3,911 $ 3,911 Differentiated $ 1,158 1,158 Specialty $ 891 891 Non-specialty 153 153 Textile chemicals and dyes $ 763 763 Eliminations $ (79 ) (79 ) $ 3,911 $ 1,158 $ 1,044 $ 763 $ (79 ) $ 6,797 2018 Polyurethanes Performance Products Advanced Materials Textile Effects Corporate and Eliminations Total Primary Geographic Markets(1) U.S. and Canada $ 1,426 $ 586 $ 285 $ 68 $ 122 $ 2,487 Europe 1,277 368 445 135 (16 ) 2,209 Asia Pacific 1,236 278 301 485 (24 ) 2,276 Rest of world 343 69 85 136 (1 ) 632 $ 4,282 $ 1,301 $ 1,116 $ 824 $ 81 $ 7,604 Major Product Groupings MDI urethanes $ 4,282 $ 4,282 Differentiated $ 1,301 1,301 Specialty $ 932 932 Non-specialty 184 184 Textile chemicals and dyes $ 824 824 Eliminations $ 81 81 $ 4,282 $ 1,301 $ 1,116 $ 824 $ 81 $ 7,604 |
Note 19 - Employee Benefit Pl_2
Note 19 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Net Funded Status and Amounts Recognized in Balance Sheet [Table Text Block] | Defined Benefit Plans Other Postretirement Benefit Plans 2020 2019 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Plans Plans Plans Plans Plans Plans Plans Plans Change in benefit obligation Benefit obligation at beginning of year $ 1,024 $ 2,377 $ 956 $ 2,157 $ 60 $ ā $ 59 $ ā Service cost 21 31 20 30 1 ā 1 ā Interest cost 37 25 41 37 2 ā 3 ā Participant contributions ā 6 ā 6 2 ā 2 ā Plan amendments ā ā ā (9 ) ā ā ā ā Foreign currency exchange rate changes ā 200 ā 7 ā ā ā ā Settlements/curtailments/divestitures (2 ) (10 ) 20 (2 ) ā ā 1 ā Actuarial (gain) loss 87 116 65 224 9 ā ā ā Benefits paid (76 ) (74 ) (78 ) (73 ) (9 ) ā (6 ) ā Benefit obligation at end of year $ 1,091 $ 2,671 $ 1,024 $ 2,377 $ 65 $ ā $ 60 $ ā Change in plan assets Fair value of plan assets at beginning of year $ 790 $ 1,960 $ 697 $ 1,751 $ ā $ ā $ ā $ ā Actual return on plan assets 99 143 107 224 ā ā ā ā Foreign currency exchange rate changes ā 161 ā 11 ā ā ā ā Participant contributions ā 6 ā 6 2 ā 2 ā Settlement/transfers/divestitures (1 ) (11 ) 19 (2 ) ā ā ā ā Company contributions 54 40 45 43 7 ā 4 ā Benefits paid (76 ) (74 ) (78 ) (73 ) (9 ) ā (6 ) ā Fair value of plan assets at end of year $ 866 $ 2,225 $ 790 $ 1,960 $ ā $ ā $ ā $ ā Funded status Fair value of plan assets $ 866 $ 2,225 $ 790 $ 1,960 $ ā $ ā $ ā $ ā Benefit obligation 1,091 2,671 1,024 2,377 65 ā 60 ā Accrued benefit cost $ (225 ) $ (446 ) $ (234 ) $ (417 ) $ (65 ) $ ā $ (60 ) $ ā Amounts recognized in balance sheet: Noncurrent asset $ ā $ 20 $ ā $ 10 $ ā $ ā $ ā $ ā Current liability (5 ) (6 ) (5 ) (6 ) (6 ) ā (5 ) ā Noncurrent liability (220 ) (460 ) (229 ) (421 ) (59 ) ā (55 ) ā Total $ (225 ) $ (446 ) $ (234 ) $ (417 ) $ (65 ) $ ā $ (60 ) $ ā |
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | Defined Benefit Plans Other Postretirement Benefit Plans 2020 2019 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Plans Plans Plans Plans Plans Plans Plans Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ 363 $ 874 $ 394 $ 840 $ 26 $ ā $ 20 $ ā Prior service credit (9 ) (27 ) (11 ) (32 ) (25 ) ā (33 ) ā Total $ 354 $ 847 $ 383 $ 808 $ 1 $ ā $ (13 ) $ ā Defined Benefit Plans Other Postretirement Benefit Plans 2020 2019 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Plans Plans Plans Plans Plans Plans Plans Plans Amounts recognized in accumulated other comprehensive loss: Net actuarial loss $ 363 $ 877 $ 395 $ 846 $ 26 $ ā $ 20 $ ā Prior service credit (9 ) (27 ) (11 ) (31 ) (25 ) ā (33 ) ā Total $ 354 $ 850 $ 384 $ 815 $ 1 $ ā $ (13 ) $ ā |
Schedule of Net Benefit Costs [Table Text Block] | Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 21 $ 20 $ 23 $ 31 $ 30 $ 32 Interest cost 37 41 39 25 37 37 Expected return on plan assets (59 ) (53 ) (54 ) (114 ) (102 ) (109 ) Amortization of prior service credit (2 ) (2 ) (2 ) (5 ) (4 ) (5 ) Amortization of actuarial loss 28 23 31 53 45 38 Settlement loss ā ā 2 ā 1 ā Net periodic benefit cost (credit) $ 25 $ 29 $ 39 $ (10 ) $ 7 $ (7 ) Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 1 $ 1 $ 2 $ ā $ ā $ ā Interest cost 2 3 2 ā ā ā Amortization of prior service credit (5 ) (5 ) (5 ) ā ā ā Amortization of actuarial loss 1 1 2 ā ā ā Net periodic benefit (credit) costs $ (1 ) $ ā $ 1 $ ā $ ā $ ā Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 21 $ 20 $ 23 $ 31 $ 30 $ 32 Interest cost 37 41 39 25 37 37 Expected return on plan assets (59 ) (53 ) (54 ) (114 ) (102 ) (109 ) Amortization of prior service credit (2 ) (2 ) (2 ) (5 ) (4 ) (5 ) Amortization of actuarial loss 28 23 31 57 48 41 Settlement loss ā ā 2 ā 1 ā Net periodic benefit cost (credit) $ 25 $ 29 $ 39 $ (6 ) $ 10 $ (4 ) Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Service cost $ 1 $ 1 $ 2 $ ā $ ā $ ā Interest cost 2 3 2 ā ā ā Amortization of prior service credit (5 ) (5 ) (5 ) ā ā ā Amortization of actuarial loss 1 1 2 ā ā ā Net periodic benefit (credit) costs $ (1 ) $ ā $ 1 $ ā $ ā $ ā |
Schedule of Amount Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) [Table Text Block] | Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss $ 40 $ 19 $ 18 $ 87 $ 101 $ 117 Amortization of actuarial loss (28 ) (26 ) (34 ) (53 ) (45 ) (38 ) Current year prior service (credits) cost ā ā ā ā (10 ) 4 Amortization of prior service credit 2 2 2 5 4 5 Settlements (42 ) ā (2 ) ā 1 ā Total recognized in other comprehensive income (loss) (28 ) (5 ) (16 ) 39 51 88 Amounts related to discontinued operations 17 9 (4 ) ā ā ā Total recognized in other comprehensive income (loss) in continuing operations (11 ) 4 (20 ) 39 51 88 Net periodic benefit cost 25 29 39 (10 ) 7 (7 ) Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 14 $ 33 $ 19 $ 29 $ 58 $ 81 Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss (gain) $ 9 $ ā $ (10 ) $ ā $ ā $ ā Amortization of actuarial loss (1 ) (1 ) (2 ) ā ā ā Current year prior service credit ā ā ā ā ā ā Amortization of prior service credit 5 5 6 ā ā ā Settlements (1 ) ā ā ā ā ā Curtailment (gain) loss 2 ā ā ā ā ā Total recognized in other comprehensive income (loss) 14 4 (6 ) ā ā ā Amounts related to discontinued operations ā (6 ) ā ā ā ā Total recognized in other comprehensive income (loss) in continuing operations 14 (2 ) (6 ) ā ā ā Net periodic benefit cost (1 ) ā 1 ā ā ā Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 13 $ (2 ) $ (5 ) $ ā $ ā $ ā Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss $ 40 $ 19 $ 18 $ 87 $ 101 $ 117 Amortization of actuarial loss (28 ) (26 ) (34 ) (57 ) (48 ) (41 ) Current year prior service credit ā ā ā ā (10 ) 4 Amortization of prior service credit 2 2 2 5 4 5 Settlements (42 ) ā (2 ) ā 1 ā Curtailment (gain)/loss ā ā ā ā ā ā Total recognized in other comprehensive income (loss) (28 ) (5 ) (16 ) 35 48 85 Amounts related to discontinued operations 17 9 (4 ) ā ā ā Total recognized in other comprehensive income (loss) in continuing operations (11 ) 4 (20 ) 35 48 85 Net periodic benefit cost 25 29 39 (6 ) 10 (4 ) Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 14 $ 33 $ 19 $ 29 $ 58 $ 81 Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Current year actuarial loss $ 9 $ ā $ (10 ) $ ā $ ā $ ā Amortization of actuarial loss (1 ) (1 ) (2 ) ā ā ā Current year prior service credit ā ā ā ā ā ā Amortization of prior service credit 5 5 6 ā ā ā Settlements (1 ) ā ā ā ā ā Curtailment (gain)/loss 2 ā ā ā ā ā Total recognized in other comprehensive income (loss) 14 4 (6 ) ā ā ā Amounts related to discontinued operations ā (6 ) ā ā ā ā Total recognized in other comprehensive income (loss) in continuing operations 14 (2 ) (6 ) ā ā ā Net periodic benefit cost (1 ) ā 1 ā ā ā Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 13 $ (2 ) $ (5 ) $ ā $ ā $ ā |
Defined Benefit Plan, Assumptions [Table Text Block] | Defined Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Projected benefit obligation Discount rate 2.82 % 3.59 % 4.39 % 0.69 % 1.07 % 1.75 % Rate of compensation increase 4.09 % 4.09 % 4.10 % 2.59 % 2.65 % 2.95 % Interest credit rate 5.15 % 5.15 % 5.15 % 0.33 % 0.49 % 1.04 % Net periodic pension cost Discount rate 3.59 % 4.39 % 3.74 % 1.07 % 1.75 % 1.65 % Rate of compensation increase 4.09 % 4.07 % 4.10 % 2.65 % 2.64 % 3.38 % Expected return on plan assets 7.52 % 7.52 % 7.52 % 5.89 % 5.89 % 5.88 % Interest credit rate 5.15 % 5.15 % 5.15 % 0.49 % 1.04 % 0.88 % Other Postretirement Benefit Plans U.S. plans Non-U.S. plans 2020 2019 2018 2020 2019 2018 Projected benefit obligation Discount rate 2.63 % 3.46 % 4.26 % 2.30 % 2.90 % 3.50 % Net periodic pension cost Discount rate 3.46 % 4.26 % 3.58 % 2.90 % 3.50 % 3.30 % |
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] | U.S. plans Non-U.S. plans 2020 2019 2020 2019 Projected benefit obligation in excess of plan assets Projected benefit obligation $ 1,091 $ 1,024 $ 2,017 $ 2,203 Fair value of plan assets 866 790 1,551 1,777 |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] | U.S. plans Non-U.S. plans 2020 2019 2020 2019 Accumulated benefit obligation in excess of plan assets Projected benefit obligation $ 1,091 $ 1,024 $ 1,203 $ 1,066 Accumulated benefit obligation 1,073 1,019 1,116 991 Fair value of plan assets 866 790 746 664 |
Schedule of Employer Future Contribution and Expected Benefit Payments [Table Text Block] | U.S. Plans Non-U.S. Plans Other Other Defined Postretirement Defined Postretirement Benefit Benefit Benefit Benefit Plans Plans Plans Plans 2021 expected employer contributions To plan trusts $ 14 $ 6 $ 40 $ ā Expected benefit payments 2021 59 6 86 ā 2022 65 6 87 ā 2023 70 5 92 ā 2024 66 5 90 ā 2025 100 5 92 ā 2026 - 2030 316 24 493 ā |
Defined Benefit Plan, Plan Assets, Category [Table Text Block] | Fair Value Amounts Using Quoted prices in active Significant other Significant December 31, markets for identical observable inputs unobservable inputs Asset category 2020 assets (Level 1) (Level 2) (Level 3) U.S. pension plans: Equities $ 481 $ 315 $ 166 $ ā Fixed income 323 242 81 ā Real estate/other 62 ā ā 62 Cash ā ā ā ā Total U.S. pension plan assets $ 866 $ 557 $ 247 $ 62 Non-U.S. pension plans: Equities $ 564 $ 229 $ 335 $ ā Fixed income 971 610 361 ā Real estate/other 628 93 459 76 Cash 62 59 3 ā Total Non-U.S. pension plan assets $ 2,225 $ 991 $ 1,158 $ 76 Fair Value Amounts Using Quoted prices in active Significant other Significant December 31, Markets for identical Observable inputs Unobservable inputs Asset category 2019 assets (Level 1) (Level 2) (Level 3) U.S. pension plans: Equities $ 422 $ 283 $ 139 $ ā Fixed income 301 220 81 ā Real estate/other 67 ā ā 67 Cash ā ā ā ā Total U.S. pension plan assets $ 790 $ 503 $ 220 $ 67 Non-U.S. pension plans: Equities $ 535 $ 228 $ 307 $ ā Fixed income 847 560 287 ā Real estate/other 505 99 349 57 Cash 73 72 1 ā Total Non-U.S. pension plan assets $ 1,960 $ 959 $ 944 $ 57 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | Real Estate/Other Year ended December 31, 2020 2019 Fair Value Measurements of Plan Assets Using Significant Unobservable Inputs (Level 3) Balance at beginning of period $ 124 $ 121 Return on pension plan assets 5 4 Purchases, sales and settlements (2 ) (1 ) Transfers into (out of) Level 3 11 ā Balance at end of period $ 138 $ 124 |
Schedule of Allocation of Plan Assets [Table Text Block] | Target Allocation Allocation at December 31, Asset category 2021 2020 2019 U.S. pension plans: Equities 54 % 56 % 54 % Fixed income 39 % 37 % 38 % Real estate/other 4 % 7 % 8 % Cash 3 % ā % ā % Total U.S. pension plans 100 % 100 % 100 % Non-U.S. pension plans: Equities 26 % 25 % 27 % Fixed income 48 % 44 % 43 % Real estate/other 14 % 28 % 26 % Cash 12 % 3 % 4 % Total non-U.S. pension plans 100 % 100 % 100 % |
Note 20 - Income Taxes (Tables)
Note 20 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2020 2019 2018 Income tax expense (benefit): U.S. Current $ (216 ) $ (17 ) $ 57 Deferred 167 (181 ) (30 ) Non-U.S. Current 90 71 153 Deferred 5 89 (135 ) Total $ 46 $ (38 ) $ 45 Year ended December 31, 2020 2019 2018 Income tax expense (benefit): U.S. Current $ (215 ) $ (21 ) $ 57 Deferred 166 (179 ) (34 ) Non-U.S. Current 90 70 153 Deferred 5 89 (135 ) Total $ 46 $ (41 ) $ 41 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2020 2019 2018 Income from continuing operations before income taxes $ 337 $ 391 $ 734 Expected tax expense at U.S. statutory rate of 21% $ 71 $ 82 $ 154 Change resulting from: State tax expense net of federal benefit (4 ) (3 ) (1 ) Non-U.S. tax rate differentials 16 9 27 Other non-U.S. tax effects, including nondeductible expenses and other withholding taxes 5 13 8 U.S. Tax Reform Act impact ā (1 ) 32 Currency exchange gains/losses(net) ā (5 ) (10 ) Venator investment basis difference and fair market value adjustments ā (199 ) 18 Tax losses related to Venator investment ā (18 ) ā Non-U.S. income subject to U.S. tax not offset by U.S. foreign tax credits 7 7 16 Tax authority audits and dispute resolutions 1 (6 ) 5 Share-based compensation excess tax benefits (1 ) (4 ) (14 ) Change in valuation allowance (14 ) 56 (185 ) Deferred tax effects of non-U.S. tax rate changes (2 ) 36 (2 ) Impact of equity method investments (10 ) (13 ) (14 ) Sale of the India-based DIY business (35 ) ā Non-U.S. withholding tax on repatriated earnings, net of U.S. foreign tax credits 20 6 11 Other U.S. tax effects, including nondeductible expenses and other credits (8 ) 2 ā Total income tax expense (benefit) $ 46 $ (38 ) $ 45 Year ended December 31, 2020 2019 2018 Income from continuing operations before income taxes $ 338 $ 377 $ 716 Expected tax expense at U.S. statutory rate of 21% $ 71 $ 79 $ 150 Change resulting from: State tax expense net of federal benefit (4 ) (3 ) (1 ) Non-U.S. tax rate differentials 16 9 27 Other non-U.S. tax effects, including nondeductible expenses and other withholding taxes 5 13 8 U.S. Tax Reform Act impact ā (1 ) 32 Currency exchange gains/losses(net) ā (5 ) (10 ) Venator investment basis difference and fair market value adjustments ā (199 ) 18 Tax losses related to Venator investment ā (18 ) ā Non-U.S. income subject to U.S. tax not offset by U.S. foreign tax credits 7 7 16 Tax authority audits and dispute resolutions 1 (6 ) 5 Share-based compensation excess tax benefits (1 ) (4 ) (14 ) Change in valuation allowance (14 ) 56 (185 ) Deferred tax effects of non-U.S. tax rate changes (2 ) 36 (2 ) Impact of equity method investments (10 ) (13 ) (14 ) Sale of the India-based DIY business (35 ) ā ā Non-U.S. withholding tax on repatriated earnings, net of U.S. foreign tax credits 20 6 11 Other U.S. tax effects, including nondeductible expenses and other credits (8 ) 2 ā Total income tax expense (benefit) $ 46 $ (41 ) $ 41 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year ended December 31, 2020 2019 2018 U.S. $ (231 ) $ (106 ) $ (38 ) Non-U.S. 568 497 772 Total $ 337 $ 391 $ 734 Year ended December 31, 2020 2019 2018 U.S. $ (230 ) $ (120 ) $ (56 ) Non-U.S. 568 497 772 Total $ 338 $ 377 $ 716 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2020 2019 Deferred income tax assets: Net operating loss carryforwards $ 258 $ 281 Pension and other employee compensation 184 172 Property, plant and equipment 15 15 Intangible assets 52 56 Basis difference in Venator investment 35 199 Operating leases 111 98 Capital loss carryovers 30 11 Deferred interest 28 19 Other, net 44 42 Total $ 757 $ 893 Deferred income tax liabilities: Property, plant and equipment $ (249 ) $ (218 ) Pension and other employee compensation (4 ) (1 ) Intangible assets (72 ) (27 ) Unrealized currency gains (14 ) (43 ) Operating leases (114 ) (102 ) Other, net (22 ) (8 ) Total $ (475 ) $ (399 ) Net deferred tax asset before valuation allowance $ 282 $ 494 Valuation allowanceānet operating losses and other (206 ) (231 ) Net deferred tax asset $ 76 $ 263 Non-current deferred tax asset 288 292 Non-current deferred tax liability (212 ) (29 ) Net deferred tax asset $ 76 $ 263 December 31, 2020 2019 Deferred income tax assets: Net operating loss carryforwards $ 258 $ 281 Pension and other employee compensation 184 172 Property, plant and equipment 15 15 Intangible assets 52 56 Basis difference in Venator investment 35 199 Operating leases 111 98 Capital loss carryovers 30 11 Deferred interest 28 19 Other, net 44 42 Total $ 757 $ 893 Deferred income tax liabilities: Property, plant and equipment $ (249 ) $ (218 ) Pension and other employee compensation (4 ) (1 ) Intangible assets (72 ) (27 ) Unrealized currency gains (14 ) (43 ) Operating leases (114 ) (102 ) Other, net (24 ) (8 ) Total $ (477 ) $ (399 ) Net deferred tax asset before valuation allowance $ 280 $ 494 Valuation allowanceānet operating losses and other (206 ) (231 ) Net deferred tax asset $ 74 $ 263 Non-current deferred tax asset 288 292 Non-current deferred tax liability (214 ) (29 ) Net deferred tax asset $ 74 $ 263 |
Summary of Valuation Allowance [Table Text Block] | 2020 2019 2018 Valuation allowance as of January 1 $ 231 $ 215 $ 412 Valuation allowance as of December 31 206 231 215 Net decrease (increase) 25 (16 ) 197 Foreign currency movements 6 ā 3 Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances (17 ) (40 ) (15 ) Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 Components of change in valuation allowance affecting tax expense: Pre-tax income and losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ 14 $ (133 ) $ 53 Releases of valuation allowances in various jurisdictions ā ā 132 Establishments of valuation allowances in various jurisdictions ā 77 ā Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 2020 2019 2018 Valuation allowance as of January 1 $ 231 $ 215 $ 412 Valuation allowance as of December 31 206 231 215 Net decrease (increase) 25 (16 ) 197 Foreign currency movements 6 ā 3 Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances (17 ) (40 ) (15 ) Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 Components of change in valuation allowance affecting tax expense: Pre-tax income and losses in jurisdictions with valuation allowances resulting in no tax expense or benefit $ 14 $ (133 ) $ 53 Releases of valuation allowances in various jurisdictions ā ā 132 Establishments of valuation allowances in various jurisdictions ā 77 ā Change in valuation allowance per rate reconciliation $ 14 $ (56 ) $ 185 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2020 2019 Unrecognized tax benefits as of January 1 $ 28 $ 26 Gross increases and decreasesātax positions taken during a prior period 2 4 Gross increases and decreasesātax positions taken during the current period 1 1 Decreases related to settlements of amounts due to tax authorities (12 ) ā Reductions resulting from the lapse of statutes of limitation (2 ) (4 ) Foreign currency movements (1 ) 1 Unrecognized tax benefits as of December 31 $ 16 $ 28 |
Schedule of Unrecognized Tax Benefits, Income Tax Penalties and Interest Recognized in Financial Statement [Table Text Block] | Year ended December 31, 2020 2019 2018 Interest expense included in tax expense $ 1 $ 2 $ ā Penalties expense included in tax expense ā 2 ā December 31, 2020 2019 Accrued liability for interest $ 4 $ 5 Accrued liability for penalties ā 2 |
Summary of Open Tax Years [Table Text Block] | Tax Jurisdiction Open Tax Years Belgium 2018 and later China 2010 and later France 2018 and later Germany 2016 and later Hong Kong 2014 and later India 2004 and later Italy 2015 and later Japan 2017 and later Mexico 2014 and later Spain 2013 and later Switzerland 2014 and later The Netherlands 2016 and later Thailand 2013 and later United Kingdom 2017 and later United States federal 2017 and later |
Note 21 - Commitments and Con_2
Note 21 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | Year ending December 31, 2021 $ 1,413 2022 982 2023 818 2024 696 2025 648 Thereafter 1,924 $ 6,481 |
Note 23 - Huntsman Corporatio_2
Note 23 - Huntsman Corporation Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Dividends Declared [Table Text Block] | 2020 Approximate Per share amount Quarter ended payment amount paid March 31, 2020 $ 0.1625 $ 37 June 30, 2020 0.1625 36 September 30, 2020 0.1625 36 December 31, 2020 0.1625 35 2019 Approximate Per share amount Quarter ended payment amount paid March 31, 2019 $ 0.1625 $ 39 June 30, 2019 0.1625 38 September 30, 2019 0.1625 38 December 31, 2019 0.1625 35 |
Note 24 - Stock-based Compens_2
Note 24 - Stock-based Compensation Plan (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Year ended December 31, 2020 2019 2018 Huntsman Corporation compensation cost $ 27 $ 29 $ 27 Huntsman International compensation cost 26 28 26 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year ended December 31, 2020 2019 2018 Dividend yield 3.0 % 2.9 % 1.6 % Expected volatility 53.1 % 54.0 % 55.2 % Risk-free interest rate 1.4 % 2.5 % 2.6 % Expected life of stock options granted during the period (in years) 5.9 5.9 5.9 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Option Awards Shares Price Term Value (in thousands) (years) (in millions) Outstanding at January 1, 2020 5,025 $ 19.08 Granted 788 21.52 Exercised (829 ) 12.81 Forfeited (169 ) 24.28 Outstanding at December 31, 2020 4,815 20.37 6.0 $ 26 Exercisable at December 31, 2020 3,371 19.23 4.9 22 |
Schedule of Nonvested Share Activity [Table Text Block] | Equity Awards Liability Awards Weighted Weighted Average Average Grant-Date Grant-Date Shares Fair Value Shares Fair Value (in thousands) (in thousands) Nonvested at January 1, 2020 1,640 $ 24.61 427 $ 24.80 Granted 848 21.92 238 21.53 Vested (577 ) (1)(2) 25.15 (218 ) 24.64 Forfeited (44 ) 26.44 (36 ) 23.71 Nonvested at December 31, 2020 1,867 23.18 411 23.08 |
Note 25 - Other Comprehensive_2
Note 25 - Other Comprehensive (Loss) Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Pension and Other Foreign other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests Corporation Beginning balance, January 1, 2020 $ (369 ) $ (1,031 ) $ 8 $ 4 $ (1,388 ) $ 26 $ (1,362 ) Other comprehensive income (loss) before reclassifications, gross 29 (135 ) ā ā (106 ) (6 ) (112 ) Tax benefit 12 30 ā ā 42 ā 42 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 111 ā ā 111 ā 111 Tax expense ā (25 ) ā ā (25 ) ā (25 ) Net current-period other comprehensive income (loss) 41 (19 ) ā ā 22 (6 ) 16 Ending balance, December 31, 2020 $ (328 ) $ (1,050 ) $ 8 $ 4 $ (1,366 ) $ 20 $ (1,346 ) Pension and Other Foreign other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests Corporation Beginning balance, January 1, 2019 $ (371 ) $ (994 ) $ 8 $ 5 $ (1,352 ) $ 36 $ (1,316 ) Other comprehensive (loss) income before reclassifications, gross ā (112 ) ā (1 ) (113 ) 5 (108 ) Tax benefit 2 25 ā ā 27 ā 27 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 62 ā ā 62 ā 62 Tax expense ā (12 ) ā ā (12 ) ā (12 ) Net current-period other comprehensive (loss) income 2 (37 ) ā (1 ) (36 ) 5 (31 ) Acquisition of noncontrolling interest ā ā ā ā ā (15 ) (15 ) Ending balance, December 31, 2019 $ (369 ) $ (1,031 ) $ 8 $ 4 $ (1,388 ) $ 26 $ (1,362 ) Pension Other Foreign and other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests International Beginning balance, January 1, 2020 $ (374 ) $ (1,012 ) $ 8 $ ā $ (1,378 ) $ 26 $ (1,352 ) Other comprehensive income (loss) before reclassifications, gross 29 (135 ) ā ā (106 ) (6 ) (112 ) Tax benefit 12 30 ā ā 42 ā 42 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 115 ā ā 115 ā 115 Tax expense ā (26 ) ā ā (26 ) ā (26 ) Net current-period other comprehensive (loss) income 41 (16 ) ā ā 25 (6 ) 19 Ending balance, December 31, 2020 $ (333 ) $ (1,028 ) $ 8 $ ā $ (1,353 ) $ 20 $ (1,333 ) Pension Other Foreign and other comprehensive Amounts Amounts currency postretirement income of attributable to attributable to translation benefits unconsolidated noncontrolling Huntsman adjustment(a) adjustments(b) affiliates Other, net Total interests International Beginning balance, January 1, 2019 $ (376 ) $ (977 ) $ 8 $ 1 $ (1,344 ) $ 36 $ (1,308 ) Other comprehensive (loss) income before reclassifications, gross ā (113 ) ā (1 ) (114 ) 5 (109 ) Tax benefit 2 25 ā ā 27 ā 27 Amounts reclassified from accumulated other comprehensive loss, gross(c) ā 65 ā ā 65 ā 65 Tax expense ā (12 ) ā ā (12 ) ā (12 ) Net current-period other comprehensive (loss) income 2 (35 ) ā (1 ) (34 ) 5 (29 ) Acquisition of noncontrolling interest ā ā ā ā ā (15 ) (15 ) Ending balance, December 31, 2019 $ (374 ) $ (1,012 ) $ 8 $ ā $ (1,378 ) $ 26 $ (1,352 ) |
Huntsman International LLC [Member] | |
Notes Tables | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Amounts reclassified from accumulated other comprehensive loss Affected line item in Details about Accumulated Other Year ended December 31, where net income Comprehensive Loss Components(a): 2020 2019 2018 is presented Amortization of pension and other postretirement benefits: Prior service credit $ (12 ) $ (11 ) $ (12 ) (b) Settlement loss 43 1 2 Curtailment gain (2 ) ā ā Actuarial loss 82 72 87 (b)(c) 111 62 77 Total before tax (25 ) (12 ) (13 ) Income tax expense Total reclassifications for the period $ 86 $ 50 $ 64 Net of tax Amounts reclassified from accumulated other comprehensive loss Affected line item in Details about Accumulated Other Year ended December 31, where net income Comprehensive Loss Components(a): 2020 2019 2018 is presented Amortization of pension and other postretirement benefits: Prior service credit $ (12 ) $ (11 ) $ (12 ) (b) Settlement loss 43 1 2 (c) Curtailment gain (2 ) ā ā (c) Actuarial loss 86 75 90 (b)(c) 115 65 80 Total before tax (26 ) (12 ) (14 ) Income tax expense Total reclassifications for the period $ 89 $ 53 $ 66 Net of tax |
Note 26 - Related Party Trans_2
Note 26 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Year ended December 31, 2020 2019 2018 Sales to: Unconsolidated affiliates $ 115 $ 133 $ 153 Inventory purchases from: Unconsolidated affiliates 407 434 411 |
Note 27 - Operating Segment I_2
Note 27 - Operating Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended December 31, 2020 2019 2018 Revenues: Polyurethanes $ 3,584 $ 3,911 $ 4,282 Performance Products 1,023 1,158 1,301 Advanced Materials 839 1,044 1,116 Textile Effects 597 763 824 Corporate and eliminations (25 ) (79 ) 81 Total $ 6,018 $ 6,797 $ 7,604 Huntsman Corporation: Segment adjusted EBITDA (1) Polyurethanes $ 472 $ 548 $ 809 Performance Products 164 168 197 Advanced Materials 130 201 225 Textile Effects 42 84 101 Corporate and other (2) (161 ) (155 ) (171 ) Total 647 846 1,161 Reconciliation of adjusted EBITDA to net income: Interest expense, netācontinuing operations (86 ) (111 ) (115 ) Interest expense, netādiscontinued operations ā ā (36 ) Income tax (expense) benefitācontinuing operations (46 ) 38 (45 ) Income tax expenseādiscontinued operations (242 ) (35 ) (86 ) Depreciation and amortizationācontinuing operations (283 ) (270 ) (255 ) Depreciation and amortizationādiscontinued operations ā (61 ) (88 ) Net income attributable to noncontrolling interests 32 36 313 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments (31 ) (5 ) (9 ) Merger costs ā ā (2 ) EBITDA from discontinued operations 1,017 265 171 Noncontrolling interest of discontinued operations ā ā (232 ) Fair value adjustments to Venator investment and related loss on disposal (88 ) (18 ) (62 ) Loss on early extinguishment of debt ā (23 ) (3 ) Certain legal and other settlements and related expenses (5 ) (6 ) (1 ) Gain (loss) on sale of businesses/assets 280 (21 ) ā Income from transition services arrangements 7 ā ā Certain nonrecurring information technology project implementation costs (6 ) (4 ) ā Amortization of pension and postretirement actuarial losses (76 ) (66 ) (67 ) Plant incident remediation costs (2 ) (8 ) ā Restructuring, impairment and plant closing and transition (costs) credits (52 ) 41 6 Net income $ 1,066 $ 598 $ 650 Year ended December 31, 2020 2019 2018 Depreciation and Amortization: Polyurethanes $ 130 $ 120 $ 108 Performance Products 79 81 78 Advanced Materials 45 36 37 Textile Effects 16 16 16 Corporate and other 13 17 16 Total $ 283 $ 270 $ 255 Year ended December 31, 2020 2019 2018 Capital Expenditures: Polyurethanes $ 172 $ 185 $ 153 Performance Products 32 32 48 Advanced Materials 21 24 20 Textile Effects 12 22 20 Corporate and other 12 11 10 Total $ 249 $ 274 $ 251 December 31, 2020 2019 Total Assets: Polyurethanes $ 3,970 $ 3,437 Performance Products 1,062 1,125 Advanced Materials 1,002 774 Textile Effects 481 511 Corporate and other 2,198 1,265 Total $ 8,713 $ 7,112 December 31, 2020 2019 Goodwill: Polyurethanes $ 312 $ 177 Performance Products 18 16 Advanced Materials 203 83 Total $ 533 $ 276 Year ended December 31, 2020 2019 2018 Huntsman International: Segment adjusted EBITDA (1) Polyurethanes $ 472 $ 548 $ 809 Performance Products 164 168 197 Advanced Materials 130 201 225 Textile Effects 42 84 101 Corporate and other (2) (155 ) (150 ) (167 ) Total 653 851 1,165 Reconciliation of adjusted EBITDA to net income: Interest expense, netācontinuing operations (88 ) (126 ) (136 ) Interest expense, netādiscontinued operations ā ā (36 ) Income tax (expense) benefitācontinuing operations (46 ) 41 (41 ) Income tax expenseādiscontinued operations (242 ) (35 ) (86 ) Depreciation and amortizationācontinuing operations (283 ) (270 ) (252 ) Depreciation and amortizationādiscontinued operations ā (61 ) (88 ) Net income attributable to noncontrolling interests 32 36 313 Other adjustments: Business acquisition and integration expenses and purchase accounting inventory adjustments (31 ) (5 ) (9 ) Merger costs ā ā (2 ) EBITDA from discontinued operations 1,017 265 171 Noncontrolling interest of discontinued operations ā ā (232 ) Fair value adjustments to Venator investment and related loss on disposal (88 ) (18 ) (62 ) Loss on early extinguishment of debt ā (23 ) (3 ) Certain legal and other settlements and related expenses (5 ) (6 ) (1 ) Gain (loss) on sale of businesses/assets 280 (21 ) ā Income from transition services arrangements 7 ā ā Certain nonrecurring information technology project implementation costs (6 ) (4 ) ā Amortization of pension and postretirement actuarial losses (79 ) (70 ) (71 ) Plant incident remediation costs (2 ) (8 ) ā Restructuring, impairment and plant closing and transition (costs) credits (52 ) 41 6 Net income $ 1,067 $ 587 $ 636 Year ended December 31, 2020 2019 2018 Depreciation and Amortization: Polyurethanes $ 130 $ 120 $ 108 Performance Products 79 81 78 Advanced Materials 45 36 37 Textile Effects 16 16 16 Corporate and other 13 17 13 Total $ 283 $ 270 $ 252 Year ended December 31, 2020 2019 2018 Capital Expenditures: Polyurethanes $ 172 $ 185 $ 153 Performance Products 32 32 48 Advanced Materials 21 24 20 Textile Effects 12 22 20 Corporate and other 12 11 10 Total $ 249 $ 274 $ 251 December 31, 2020 2019 Total Assets: Polyurethanes $ 3,970 $ 3,437 Performance Products 1,062 1,125 Advanced Materials 1,002 774 Textile Effects 481 511 Corporate and other 2,241 1,668 Total $ 8,756 $ 7,515 December 31, 2020 2019 Goodwill: Polyurethanes $ 312 $ 177 Performance Products 18 16 Advanced Materials 203 83 Total $ 533 $ 276 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Year ended December 31, 2020 2019 2018 Revenues by geographic area (1) United States $ 1,863 $ 2,025 $ 2,136 China 1,115 1,076 1,260 Germany 388 541 537 India 211 319 352 Other nations 2,441 2,836 3,319 Total $ 6,018 $ 6,797 $ 7,604 December 31, 2020 2019 Long-lived assets (2) United States $ 1,078 $ 970 The Netherlands 368 334 China 251 247 Germany 144 137 Saudi Arabia 143 154 Singapore 90 94 Switzerland 73 106 Other nations 358 341 Total $ 2,505 $ 2,383 |
Schedule I - Condensed Financ_2
Schedule I - Condensed Financial Information of Registrant (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, 2020 2019 ASSETS Cash and cash equivalents $ 2 $ ā Prepaid assets 2 1 Receivable from affiliate 3 86 Note receivable from affiliate ā 100 Total current assets 7 187 Note receivable from affiliate-noncurrent ā 280 Investment in and advances to affiliates 3,561 2,626 Total assets $ 3,568 $ 3,093 LIABILITIES AND STOCKHOLDERSā EQUITY Payable to affiliate $ 39 $ 396 Accrued liabilities 3 3 Total current liabilities 42 399 Other noncurrent liabilities 7 7 Total liabilities 49 406 STOCKHOLDERSā EQUITY Common stock $0.01 par value, 1,200,000,000 shares authorized, 258,520,411 and 257,405,496 shares issued and 220,046,262 and 224,295,868 shares outstanding, respectively 3 3 Additional paid-in capital 4,048 4,008 Treasury stock, 38,477,091 and 33,112,572 shares, respectively (731 ) (635 ) Unearned stock-based compensation (19 ) (17 ) Retained earnings 1,564 690 Accumulated other comprehensive loss (1,346 ) (1,362 ) Total stockholdersā equity 3,519 2,687 Total liabilities and stockholdersā equity $ 3,568 $ 3,093 |
Condensed Income Statement [Table Text Block] | Year ended December 31, 2020 2019 2018 Selling, general and administrative expenses $ (6 ) $ (5 ) $ (4 ) Interest income 2 15 21 Equity in income of subsidiaries 892 401 163 Dividend incomeāaffiliate 144 148 154 Other income 2 3 3 Net income $ 1,034 $ 562 $ 337 |
Condensed Statement of Comprehensive Income [Table Text Block] | Year ended December 31, 2020 2019 2018 Net income $ 1,034 $ 562 $ 337 Other comprehensive income, net of tax: Foreign currency translations adjustments 41 2 (192 ) Pension and other postretirement benefits adjustments (19 ) (37 ) (39 ) Other, net 32 35 304 Other comprehensive income, net of tax 54 ā 73 Comprehensive income 1,088 562 410 Comprehensive income attributable to noncontrolling interests (38 ) (31 ) (266 ) Comprehensive income attributable to Huntsman Corporation $ 1,050 $ 531 $ 144 |
Condensed Statement of Stockholders' Equity [Table Text Block] | Huntsman Corporation Stockholdersā Equity Accumulated Shares Additional Unearned other Common Common paid-in Treasury stock-based Retained comprehensive Total stock stock capital stock compensation earnings loss equity Beginning balance, January 1, 2018 240,213,606 $ 3 $ 3,889 $ (150 ) $ (15 ) $ 161 $ (1,268 ) $ 2,620 Cumulative effect of changes in fair value of equity investments ā ā ā ā ā 10 (10 ) ā Net income ā ā ā ā ā 337 ā 337 Other comprehensive loss ā ā ā ā ā ā (198 ) (198 ) Issuance of nonvested stock awards ā ā 14 ā (14 ) ā ā ā Vesting of stock awards 1,135,003 ā 11 ā ā ā ā 11 Recognition of stock-based compensation ā ā 8 ā 13 ā ā 21 Repurchase and cancellation of stock awards (259,643 ) ā ā ā ā (30 ) ā (30 ) Stock options exercised 2,310,663 ā 46 ā ā (29 ) ā 17 Treasury stock repurchased (10,405,457 ) ā ā (277 ) ā ā ā (277 ) Disposition of a portion of Venator ā ā 18 ā ā ā ā 18 Costs of the secondary offering of Venator ā ā (2 ) ā ā ā ā (2 ) Deconsolidation of Venator ā ā ā ā ā ā 160 160 Accrued and unpaid dividends ā ā ā ā ā (1 ) ā (1 ) Dividends declared on common stock ā ā ā ā ā (156 ) ā (156 ) Balance, December 31, 2018 232,994,172 3 3,984 (427 ) (16 ) 292 (1,316 ) 2,520 Net income ā ā ā ā ā 562 ā 562 Other comprehensive loss ā ā ā ā ā ā (46 ) (46 ) Issuance of nonvested stock awards ā ā 17 ā (17 ) ā ā ā Vesting of stock awards 1,643,368 ā 7 ā ā ā ā 7 Recognition of stock-based compensation ā ā 7 ā 16 ā ā 23 Repurchase and cancellation of stock awards (488,441 ) ā ā ā ā (12 ) ā (12 ) Stock options exercised 246,661 ā 4 ā ā (2 ) ā 2 Treasury stock repurchased (10,099,892 ) ā ā (208 ) ā ā ā (208 ) Acquisition of noncontrolling interests, net of tax ā ā (11 ) ā ā ā ā (11 ) Dividends declared on common stock ā ā ā ā ā (150 ) ā (150 ) Balance, December 31, 2019 224,295,868 3 4,008 (635 ) (17 ) 690 (1,362 ) 2,687 Net income ā ā ā ā ā 1,034 ā 1,034 Other comprehensive loss ā ā ā ā ā ā 16 16 Issuance of nonvested stock awards ā ā 18 ā (18 ) ā ā ā Vesting of stock awards 960,406 ā 5 ā ā ā ā 5 Recognition of stock-based compensation ā ā 7 ā 16 ā ā 23 Repurchase and cancellation of stock awards (287,247 ) ā ā ā ā (8 ) ā (8 ) Stock options exercised 441,754 ā 10 ā ā (7 ) ā 3 Treasury stock repurchased (5,364,519 ) ā ā (96 ) ā ā ā (96 ) Dividends declared on common stock ā ā ā ā ā (145 ) ā (145 ) Balance, December 31, 2020 220,046,262 $ 3 $ 4,048 $ (731 ) $ (19 ) $ 1,564 $ (1,346 ) $ 3,519 |
Condensed Cash Flow Statement [Table Text Block] | Year ended December 31, 2020 2019 2018 Operating Activities: Net income $ 1,034 $ 562 $ 337 Equity in income of subsidiaries (892 ) (401 ) (163 ) Stock-based compensation 1 1 1 Noncash interest income (2 ) (15 ) (21 ) Changes in operating assets and liabilities (1 ) 13 19 Net cash provided by operating activities 140 160 173 Investing Activities: Repayments of loan by affiliate 380 207 255 Net cash provided by investing activities 380 207 255 Financing Activities: Dividends paid to common stockholders (144 ) (150 ) (156 ) Repurchase and cancellation of stock awards (8 ) (12 ) (30 ) Proceeds from issuance of common stock 3 2 17 Repurchase of common stock (96 ) (208 ) (277 ) (Decrease) increase in payable to affiliates (273 ) 1 16 Net cash used in financing activities (518 ) (367 ) (430 ) Increase (decrease) in cash and cash equivalents 2 ā (2 ) Cash and cash equivalents at beginning of period ā ā 2 Cash and cash equivalents at end of period $ 2 $ ā $ ā |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) $ / shares in Units, ā¬ in Millions, shares in Millions, SFr in Millions, $ in Millions | Jan. 15, 2021USD ($) | Jan. 15, 2021EUR (ā¬) | Dec. 23, 2020USD ($)$ / sharesshares | Nov. 03, 2020USD ($) | Feb. 20, 2020USD ($) | Jan. 03, 2020USD ($) | Dec. 31, 2020USD ($) | Nov. 30, 2020USD ($) | Nov. 30, 2020CHF (SFr) | Dec. 31, 2020USD ($) | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 05, 2019 | Dec. 31, 2017USD ($) |
Number of Chinese Chemical Companies | 3 | ||||||||||||||
Number of Operating Segments | 4 | ||||||||||||||
Proceeds from Divestiture of Businesses | $ 2,181 | $ 0 | $ 0 | ||||||||||||
Gain (Loss) on Disposition of Business | 247 | 0 | 0 | ||||||||||||
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | 99 | $ 0 | $ 0 | ||||||||||||
Venator Materials PLC [Member] | |||||||||||||||
Receivable Related to Income Tax Benefits Associated With Investment | $ 34 | ||||||||||||||
Loss on Write-off of Receivable Related to Income Tax Benefits Associated With Investment | $ 31 | $ 31 | |||||||||||||
SK Capital Partners, LP [Member] | Venator Materials PLC [Member] | |||||||||||||||
Equity Method Investment Using Fair Value Option, Number of Shares Sold (in shares) | shares | 42.4 | 42.4 | |||||||||||||
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | $ 99 | ||||||||||||||
Portion of Proceeds from Sales of Equity Securities Attributable to Buyer's Option to Purchase Remaining Securities | $ 8 | ||||||||||||||
Sale of Equity Securities, Period of Option for Buyer to Purchase Remaining Securities (Month) | 30 months | ||||||||||||||
Immediate Cash Tax Savings Achieved By Sale of Equity Securities | $ 150 | ||||||||||||||
Equity Securities Held for Which There Exists an Option for Another Party to Purchase (in shares) | shares | 9.7 | ||||||||||||||
Equity Securities Held for Which There Exists an Option for Another Party to Purchase, Price Per Share (in dollars per share) | $ / shares | $ 2.15 | ||||||||||||||
India-Based Do It Yourself Consumer Adhesives Business [Member] | Pidilite Industries Ltd. [Member] | |||||||||||||||
Proceeds from Divestiture of Businesses | $ 257 | ||||||||||||||
Disposition of Business, Cash Potentially Receivable Under Earnout | $ 28 | ||||||||||||||
Disposition of Business, Period to Determine Cash Receivable Under Earnout (Month) | 18 months | ||||||||||||||
Gain (Loss) on Disposition of Business | $ 247 | ||||||||||||||
Chemical Intermediates Businesses [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||||||||||||
Proceeds from Divestiture of Businesses | $ 1,920 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | 2,000 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Cash Purchase Price | 1,920 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Pension and Other Post Employment Plan Benefit Obligation | $ 72 | ||||||||||||||
Sale and Leaseback of Certain Properties in Basel, Switzerland [Member] | |||||||||||||||
Sale Leaseback Transaction, Proceeds Received | $ 73 | SFr 67 | |||||||||||||
Sale Leaseback Transaction, Period of Leaseback (Year) | 5 years | 5 years | |||||||||||||
Sale and Leaseback Transaction, Gain (Loss), Net | $ 33 | SFr 30 | |||||||||||||
Senior Notes Maturing April 2021 [Member] | Subsequent Event [Member] | |||||||||||||||
Debt Instrument, Amount Redeemed | $ 541 | ā¬ 445 | |||||||||||||
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 100.00% | 100.00% | |||||||||||||
Icynene-Lapolla [Member] | |||||||||||||||
Business Acquisition, Number of Manufacturing Facilities Operated | 2 | ||||||||||||||
Payments to Acquire Businesses, Gross | $ 353 | ||||||||||||||
Acquisition of Gabriel [Member] | Subsequent Event [Member] | |||||||||||||||
Payments to Acquire Businesses, Gross | $ 250 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flow Hedge Derivative, Quarterly Period of Effectiveness Assessment (Month) | 3 months | |||
Cumulative Inflation Rate Considered for Economic Environment to Be Highly Inflationary | 100.00% | |||
Period Considered for Determining Highly Inflationary Economic Environment (Year) | 3 years | |||
Foreign Currency Transaction Gain (Loss), before Tax, Total | $ 2 | $ (8) | $ 3 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 35.00% |
Tax Cuts and Jobs Act, Measurement Period Adjustment, Income Tax Expense (Benefit) | $ 32 | |||
Goodwill, Purchase Accounting Adjustments | $ 259 | $ (2) | ||
Goodwill, Foreign Currency Translation Gain (Loss) | $ (2) | $ 1 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 4.3 | 3 | 0.8 | |
Interest Costs Capitalized | $ 7 | $ 4 | $ 4 | |
Minimum [Member] | ||||
Cash Flow Hedge Derivative Instrument, Effectiveness Percentage | 80.00% | |||
Maximum [Member] | ||||
Cash Flow Hedge Derivative Instrument, Effectiveness Percentage | 125.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Finite-lived Intangibles (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Patents and Technology [Member] | Minimum [Member] | |
Intangible assets useful life (Year) | 5 years |
Patents and Technology [Member] | Maximum [Member] | |
Intangible assets useful life (Year) | 30 years |
Trademarks [Member] | Minimum [Member] | |
Intangible assets useful life (Year) | 9 years |
Trademarks [Member] | Maximum [Member] | |
Intangible assets useful life (Year) | 30 years |
Licenses and Other Agreements [Member] | Minimum [Member] | |
Intangible assets useful life (Year) | 5 years |
Licenses and Other Agreements [Member] | Maximum [Member] | |
Intangible assets useful life (Year) | 15 years |
Other Intangible Assets [Member] | Minimum [Member] | |
Intangible assets useful life (Year) | 5 years |
Other Intangible Assets [Member] | Maximum [Member] | |
Intangible assets useful life (Year) | 20 years |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Net Income Per Share (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income from continuing operations attributable to Huntsman Corporation | $ 259 | $ 393 | $ 608 |
Net income | $ 1,034 | $ 562 | $ 337 |
Weighted average shares outstanding (in shares) | 220.6 | 228.9 | 238.1 |
Stock-based awards (in shares) | 1.3 | 1.7 | 3.5 |
Total weighted average shares outstanding, including dilutive shares (in shares) | 221.9 | 230.6 | 241.6 |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Minimum [Member] | Buildings and Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Minimum [Member] | Plant and Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Minimum [Member] | Furniture, Fixtures and Leasehold Improvements [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Maximum [Member] | Buildings and Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 50 years |
Maximum [Member] | Plant and Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 30 years |
Maximum [Member] | Furniture, Fixtures and Leasehold Improvements [Member] | |
Property, plant and equipment, useful life (Year) | 20 years |
Note 3 - Business Combination_3
Note 3 - Business Combinations and Acquisitions (Details Textual) - USD ($) $ in Thousands | May 18, 2020 | Feb. 20, 2020 | Sep. 30, 2019 | Apr. 23, 2018 | Sep. 30, 2018 | Dec. 31, 2020 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Business Combination, Acquisition Related Costs | $ 0 | $ 0 | $ 2,000 | ||||||||
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (84,000) | ||||||||||
Sasol-Huntsman [Member] | |||||||||||
Percentage of Joint Venture Acquired | 50.00% | ||||||||||
Payments to Acquire Interest in Joint Venture | $ 101,000 | ||||||||||
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | $ (11,000) | 0 | |||||||||
CVC Thermoset Specialties [Member] | |||||||||||
Payments to Acquire Businesses, Gross | $ 304,000 | ||||||||||
Business Combination, Acquisition Related Costs | $ 5,000 | ||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | ||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 0 | $ 0 | $ 0 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 43,000 | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | (6,000) | ||||||||||
Icynene-Lapolla [Member] | |||||||||||
Payments to Acquire Businesses, Gross | $ 353,000 | ||||||||||
Business Combination, Acquisition Related Costs | 14,000 | ||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 0 | 0 | $ 0 | ||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 199,000 | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 12,000 | ||||||||||
Business Combination, Consideration Transferred, Total | $ 353,000 | ||||||||||
Demilec Acquisition [Member] | |||||||||||
Business Combination, Acquisition Related Costs | $ 5,000 | ||||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 142,000 | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 5,000 | ||||||||||
Business Combination, Consideration Transferred, Total | $ 353,000 | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 15 years | ||||||||||
Cash Acquired from Purchase Price Adjustment from Acquisition | $ 4,000 |
Note 3 - Business Combination_4
Note 3 - Business Combinations and Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions | May 18, 2020 | Feb. 20, 2020 | Apr. 23, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill | $ 533 | $ 276 | |||
CVC Thermoset Specialties [Member] | |||||
Payments to Acquire Businesses, Gross | $ 304 | ||||
Accounts receivable | 12 | ||||
Inventories | 37 | ||||
Property, plant and equipment | 67 | ||||
Intangible assets | 117 | ||||
Goodwill | 120 | ||||
Accounts payable | (7) | ||||
Accrued liabilities | (1) | ||||
Deferred income taxes | (41) | ||||
Total fair value of net assets acquired | 304 | ||||
Cash paid for acquisition | $ 304 | ||||
Icynene-Lapolla [Member] | |||||
Payments to Acquire Businesses, Gross | $ 353 | ||||
Accounts receivable | 36 | ||||
Inventories | 32 | ||||
Property, plant and equipment | 7 | ||||
Intangible assets | 165 | ||||
Goodwill | 139 | ||||
Accounts payable | (13) | ||||
Accrued liabilities | (10) | ||||
Deferred income taxes | (14) | ||||
Total fair value of net assets acquired | 353 | ||||
Cash paid for acquisition | 353 | ||||
Cash | 7 | ||||
Prepaid expenses and other current assets | 1 | ||||
Other noncurrent assets | 3 | ||||
Business Combination, Consideration Transferred, Total | $ 353 | ||||
Demilec Acquisition [Member] | |||||
Accounts receivable | $ 31 | ||||
Inventories | 23 | ||||
Property, plant and equipment | 21 | ||||
Intangible assets | 177 | ||||
Goodwill | 140 | ||||
Accounts payable | (16) | ||||
Accrued liabilities | (3) | ||||
Deferred income taxes | (22) | ||||
Total fair value of net assets acquired | 353 | ||||
Cash | 1 | ||||
Prepaid expenses and other current assets | 1 | ||||
Business Combination, Consideration Transferred, Total | $ 353 |
Note 3 - Business Combination_5
Note 3 - Business Combinations and Acquisitions - Pro Forma Revenues and Net Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
CVC Thermoset and Icynene-Lapolla Acquisitions [Member] | |||
Revenues | $ 6,080 | $ 7,140 | |
Net income | 1,063 | 616 | |
Net (loss) income | 1,031 | 580 | |
CVC Thermoset and Icynene-Lapolla Acquisitions [Member] | Huntsman International LLC [Member] | |||
Revenues | 6,080 | 7,140 | |
Net income | 1,064 | 605 | |
Net (loss) income | $ 1,032 | $ 569 | |
Demilec Acquisition [Member] | |||
Revenues | $ 7,662 | ||
Net income | 639 | ||
Net (loss) income | 326 | ||
Demilec Acquisition [Member] | Huntsman International LLC [Member] | |||
Revenues | 7,662 | ||
Net income | 625 | ||
Net (loss) income | $ 312 |
Note 3 - Business Combination_6
Note 3 - Business Combinations and Acquisitions - Effects of Changes in Ownership Interest in Joint Venture (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 1,034 | $ 562 | $ 337 |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (84) | ||
Huntsman International LLC [Member] | |||
Net income | $ 1,035 | 551 | 323 |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (84) | ||
Sasol-Huntsman [Member] | |||
Net income | 562 | 337 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (11) | 0 | |
Net transfers to noncontrolling interest | (11) | 0 | |
Change from net income attributable to Huntsman Corporation shareholders and transfers to noncontrolling interest | 551 | 337 | |
Sasol-Huntsman [Member] | Huntsman International LLC [Member] | |||
Net income | 551 | 323 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (11) | 0 | |
Net transfers to noncontrolling interest | (11) | 0 | |
Change from net income attributable to Huntsman Corporation shareholders and transfers to noncontrolling interest | $ 540 | $ 323 |
Note 4 - Discontinued Operati_3
Note 4 - Discontinued Operations and Business Dispositions (Details Textual) - USD ($) shares in Millions, $ in Millions | Dec. 23, 2020 | Nov. 03, 2020 | Jan. 03, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Proceeds from Divestiture of Businesses | $ 2,181 | $ 0 | $ 0 | |||||
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | 99 | 0 | 0 | |||||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (88) | (19) | (62) | |||||
Gain (Loss) on Disposition of Business | 247 | 0 | $ 0 | |||||
Venator Materials PLC [Member] | ||||||||
Equity Method Investment, Ownership Percentage | 49.00% | |||||||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (55) | $ (19) | $ (62) | |||||
Loss from Equity Method Investment Accounted For at Fair Value | 88 | |||||||
Equity Method Investment Accounted for at Fair Value, Loss from Adjustment to Mark to Fair Value | 43 | |||||||
Equity Method Investment Accounted for at Fair Value, Loss Related to Sale of Ordinary Shares | 12 | |||||||
Loss on Write-off of Receivable Related to Income Tax Benefits Associated With Investment | $ 31 | $ 31 | ||||||
Venator Materials PLC [Member] | SK Capital Partners, LP [Member] | ||||||||
Equity Method Investment Using Fair Value Option, Number of Shares Sold (in shares) | 42.4 | 42.4 | ||||||
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | $ 99 | |||||||
Chemical Intermediates Businesses [Member] | ||||||||
Income Taxes Paid Related to the Sale of a Business | $ 231 | |||||||
Chemical Intermediates Businesses [Member] | Discontinued Operations, Disposed of by Sale [Member] | ||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 2,000 | |||||||
Proceeds from Divestiture of Businesses | 1,920 | |||||||
Disposal Group, Including Discontinued Operation, Pension and Other Post Employment Plan Benefit Obligation | $ 72 | |||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | 748 | |||||||
Effect of LIFO Inventory Liquidation on Income | 19 | |||||||
Income Taxes Paid Related to the Sale of a Business | 231 | |||||||
India-Based Do It Yourself Consumer Adhesives Business [Member] | ||||||||
Income Taxes Paid Related to the Sale of a Business | $ 26 | |||||||
India-Based Do It Yourself Consumer Adhesives Business [Member] | Pidilite Industries Ltd. [Member] | ||||||||
Proceeds from Divestiture of Businesses | $ 257 | |||||||
Disposition of Business, Cash Potentially Receivable Under Earnout | $ 28 | |||||||
Disposition of Business, Period to Determine Cash Receivable Under Earnout (Month) | 18 months | |||||||
Gain (Loss) on Disposition of Business | $ 247 |
Note 4 - Discontinued Operati_4
Note 4 - Discontinued Operations and Business Dispositions - Summary of Major Classes of Line Items of Discontinued Operations (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Income tax expense | $ (242) | $ (35) | $ (86) | |
Income (loss) from discontinued operations, net of tax | 775 | 169 | (39) | |
Net income (loss) attributable to discontinued operations | 775 | 169 | (271) | |
Discontinued Operations, Held-for-sale [Member] | Chemical Intermediates Businesses [Member] | ||||
Accounts receivable | 145 | |||
Inventories | 105 | |||
Property, plant and equipment, net | 720 | |||
Operating lease right-of-use assets | 69 | |||
Deferred income taxes | 4 | |||
Other noncurrent assets | 165 | |||
Total assets held for sale | [1] | 1,208 | ||
Accounts payable | 152 | |||
Accrued liabilities | 26 | |||
Current operating lease liabilities | 20 | |||
Deferred income taxes | 135 | |||
Noncurrent operating lease liabilities | 51 | |||
Other noncurrent liabilities | 128 | |||
Total liabilities held for sale | [1] | 512 | ||
Trade sales, services and fees, net | [2],[3] | 1,545 | ||
Cost of goods sold | [2],[3] | 1,287 | ||
Gain on sale of the Chemical Intermediates Businesses | [2],[3] | 0 | ||
Other expense items, net that are not major | [2] | 54 | ||
Income from discontinued operations before income taxes | 204 | |||
Income tax expense | (35) | |||
Loss on disposal | 0 | |||
Valuation allowance | 0 | |||
Income (loss) from discontinued operations, net of tax | 169 | |||
Net income attributable to noncontrolling interests | 0 | |||
Net income (loss) attributable to discontinued operations | $ 169 | |||
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | Chemical Intermediates Businesses [Member] | ||||
Trade sales, services and fees, net | [2],[3] | 7 | 3,923 | |
Cost of goods sold | [2],[3] | (37) | 2,847 | |
Gain on sale of the Chemical Intermediates Businesses | [2],[3] | 978 | 0 | |
Other expense items, net that are not major | [2] | 5 | 332 | |
Income from discontinued operations before income taxes | 1,017 | 744 | ||
Income tax expense | (242) | (86) | ||
Loss on disposal | 0 | (427) | ||
Valuation allowance | 0 | (270) | ||
Income (loss) from discontinued operations, net of tax | 775 | (39) | ||
Net income attributable to noncontrolling interests | 0 | (6) | ||
Net income (loss) attributable to discontinued operations | $ 775 | $ (45) | ||
[1] | The assets and liabilities held for sale are classified as current as of December 31, 2019 because the sale of our Chemical Intermediates Businesses was completed on January 3, 2020. | |||
[2] | Discontinued operations primarily include our Chemical Intermediates Businesses for all periods presented. We began accounting for our investment in Venator as an equity method investment on December 3, 2018. Therefore, the summarized financial data only includes the results of Venator applicable to the period from January 1, 2017 through December 2, 2018. | |||
[3] | Includes eliminations of trade sales, services and fees, net and cost of sales between continuing operations and discontinued operations. |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) | Dec. 31, 2020 | Dec. 31, 2019 |
Percentage of LIFO Inventory | 7.00% | 9.00% |
Note 5 - Inventories - Inventor
Note 5 - Inventories - Inventories (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Raw materials and supplies | $ 180 | $ 175 | |
Work in progress | 44 | 49 | |
Finished goods | 651 | 718 | |
Total | 875 | 942 | |
LIFO reserves | (27) | (28) | |
Net inventories | [1] | $ 848 | $ 914 |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." |
Note 6 - Property, Plant and _3
Note 6 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Total | $ 242 | $ 245 | $ 239 |
Huntsman International LLC [Member] | |||
Depreciation, Total | $ 242 | $ 245 | $ 236 |
Note 6 - Property, Plant and _4
Note 6 - Property, Plant and Equipment - Schedule of Cost and Accumulated Depreciation of Property, Plant and Equipment (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Total | $ 6,033 | $ 5,688 | |
Less accumulated depreciation | (3,528) | (3,305) | |
Net | [1],[2] | 2,505 | 2,383 |
Huntsman International LLC [Member] | |||
Total | 6,121 | 5,742 | |
Less accumulated depreciation | (3,616) | (3,359) | |
Net | [3] | 2,505 | 2,383 |
Land [Member] | |||
Total | 97 | 103 | |
Land [Member] | Huntsman International LLC [Member] | |||
Total | 97 | 103 | |
Building [Member] | |||
Total | 540 | 605 | |
Building [Member] | Huntsman International LLC [Member] | |||
Total | 540 | 605 | |
Plant and Equipment [Member] | |||
Total | 5,039 | 4,695 | |
Plant and Equipment [Member] | Huntsman International LLC [Member] | |||
Total | 5,127 | 4,749 | |
Construction in Progress [Member] | |||
Total | 357 | 285 | |
Construction in Progress [Member] | Huntsman International LLC [Member] | |||
Total | $ 357 | $ 285 | |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||
[2] | Long-lived assets consist of property, plant and equipment, net. | ||
[3] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." |
Note 7 - Investment in Uncons_3
Note 7 - Investment in Unconsolidated Affiliates (Details Textual) - USD ($) shares in Millions, $ in Millions | Dec. 23, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Equity Securities, FV-NI | $ 32 | $ 0 | ||
Venator Materials PLC [Member] | ||||
Equity Method Investment, Ownership Percentage | 49.00% | |||
Venator Materials PLC [Member] | Other Noncurrent Assets [Member] | ||||
Equity Securities, FV-NI | $ 32 | |||
Venator Materials PLC [Member] | SK Capital Partners, LP [Member] | ||||
Equity Method Investment Using Fair Value Option, Number of Shares Sold (in shares) | 42.4 | 42.4 | ||
BASF Huntsman Shanghai Isocyanate Investment BV [Member] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | ||
BASF Huntsman Shanghai Isocyanate Investment BV [Member] | SLIC [Member] | ||||
Ownership Interest Held by Equity Method Investee | 70.00% | |||
Indirect Ownership Percentage | 35.00% |
Note 7 - Investment in Uncons_4
Note 7 - Investment in Unconsolidated Affiliates (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Total equity method investments | $ 373 | $ 535 | |
Venator Materials PLC [Member] | |||
Total equity method investments | [1] | 0 | 200 |
BASF Huntsman Shanghai Isocyanate Investment BV [Member] | |||
Total equity method investments | [2] | 111 | 112 |
Nanjing Jinling Huntsman New Material Co., Ltd. [Member] | |||
Total equity method investments | 229 | 196 | |
Jurong Ningwu New Material Development Co., Ltd. [Member] | |||
Total equity method investments | $ 33 | $ 27 | |
[1] | On December 23, 2020, we completed the sale of approximately 42.4 million ordinary shares of Venator, and we no longer account for our current remaining ownership interest in Venator as an equity method investment, but rather as an investment in equity securities that are marked to fair value with changes in fair value reported in earnings. As of December 31, 2020, our investment in Venator was $32 million and was included in other noncurrent assets on our consolidated balance sheets. | ||
[2] | We own 50% of BASF Huntsman Shanghai Isocyanate Investment BV. BASF Huntsman Shanghai Isocyanate Investment BV owns a 70% interest in SLIC, thus giving us an indirect 35% interest in SLIC. |
Note 7 - Investment in Uncons_5
Note 7 - Investment in Unconsolidated Affiliates (Details) (Parentheticals) | Dec. 31, 2020 | Dec. 31, 2019 |
BASF Huntsman Shanghai Isocyanate Investment BV [Member] | ||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% |
Nanjing Jinling Huntsman New Material Co., Ltd. [Member] | ||
Equity Method Investment, Ownership Percentage | 49.00% | 49.00% |
Jurong Ningwu New Material Development Co., Ltd. [Member] | ||
Equity Method Investment, Ownership Percentage | 30.00% | 30.00% |
Note 7 - Investment in Uncons_6
Note 7 - Investment in Unconsolidated Affiliates - Summarized Financial Information of Unconsolidated Affiliates (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Current assets | $ 3,568 | $ 3,755 | |||
Current liabilities | 1,979 | 2,008 | |||
Noncontrolling interests | 154 | 137 | |||
Revenues | [1] | 6,018 | 6,797 | $ 7,604 | |
Gross profit | 4,918 | 5,415 | 5,840 | ||
(Loss) income from continuing operations | 291 | 429 | 689 | ||
Net income | 1,034 | 562 | 337 | ||
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] | |||||
Current assets | 1,544 | 1,439 | |||
Non-current assets | 2,317 | 2,436 | |||
Current liabilities | 574 | 688 | |||
Non-current liabilities | 1,804 | 1,614 | |||
Noncontrolling interests | 6 | 7 | |||
Revenues | 3,544 | 4,025 | 2,181 | [2] | |
Gross profit | 338 | 454 | 221 | [2] | |
(Loss) income from continuing operations | (2) | 99 | 124 | [2] | |
Net income | $ (2) | $ 99 | $ 124 | [2] | |
[1] | Geographic information for revenues is based upon countries into which product is sold. | ||||
[2] | We began accounting for our investment in Venator as an equity method investment on December 3, 2018 and then as an investment in equity securities on December 23, 2020 and thereafter. Therefore, the summarized financial data only includes information for Venator for the years ended December 31, 2020 and 2019 and the period from December 3, 2018 through December 31, 2018. |
Note 8 - Variable Interest En_3
Note 8 - Variable Interest Entities (Details Textual) | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2020 |
Sasol-Huntsman [Member] | |||
Percentage of Joint Venture Acquired | 50.00% | ||
Rubicon LLC [Member] | |||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 50.00% | ||
Arabian Amines Company [Member] | |||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 50.00% | 50.00% | |
Sasol-Huntsman [Member] | |||
Variable Interest Entity, Ownership Percentage Acquired | 50.00% |
Note 8 - Variable Interest En_4
Note 8 - Variable Interest Entities - Schedule of Financial Information of Variable Interest Entities (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||
Current assets | $ 3,568 | $ 3,755 | |||
Property, plant and equipment, net | [1],[2] | 2,505 | 2,383 | ||
Operating lease right-of-use assets | 445 | 396 | |||
Deferred income taxes | 288 | 292 | |||
Total assets | 8,713 | 8,320 | |||
Current liabilities | 1,979 | 2,008 | |||
Long-term debt | [1] | 1,528 | 2,177 | ||
Noncurrent operating lease liabilities | [1] | 411 | 384 | ||
Other noncurrent liabilities | [1] | 910 | 898 | ||
Deferred income taxes | 212 | 29 | |||
Total liabilities | 5,040 | 5,496 | |||
Revenues | [3] | 6,018 | 6,797 | $ 7,604 | |
Income from continuing operations before income taxes | 337 | 391 | 734 | ||
Net cash provided by operating activities | 253 | 897 | 1,207 | ||
Variable Interest Entity, Primary Beneficiary [Member] | |||||
Current assets | 49 | 50 | |||
Property, plant and equipment, net | 167 | 180 | |||
Operating lease right-of-use assets | 22 | 16 | |||
Other noncurrent assets | 138 | 132 | |||
Deferred income taxes | 30 | 30 | |||
Total assets | 406 | 408 | |||
Current liabilities | 183 | 151 | |||
Long-term debt | 3 | 29 | |||
Noncurrent operating lease liabilities | 17 | 11 | |||
Other noncurrent liabilities | 82 | 87 | |||
Deferred income taxes | 1 | 0 | |||
Total liabilities | 286 | 278 | |||
Revenues | 0 | 95 | [4] | 154 | |
Income from continuing operations before income taxes | 4 | 17 | [4] | 40 | |
Net cash provided by operating activities | $ 10 | $ 81 | [4] | $ 65 | |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||||
[2] | Long-lived assets consist of property, plant and equipment, net. | ||||
[3] | Geographic information for revenues is based upon countries into which product is sold. | ||||
[4] | As of September 30, 2019, Sasol-Huntsman was no longer accounted for as a variable interest entity. Therefore, this financial data only includes information for Sasol-Huntsman applicable to the period from January 1, 2019 through September 30, 2019. |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) $ in Thousands, SFr in Millions | 1 Months Ended | 12 Months Ended | |||
Nov. 30, 2020USD ($) | Nov. 30, 2020CHF (SFr) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Variable Lease, Cost | $ 0 | $ 0 | |||
Short-term Lease, Cost | 3,000 | $ 1,000 | |||
Operating Leases, Rent Expense, Net, Total | $ 55,000 | ||||
Operating Lease Not Yet Commenced | $ 9,000 | ||||
Sale and Leaseback of Certain Properties in Basel, Switzerland [Member] | |||||
Sale Leaseback Transaction, Proceeds Received | $ 73,000 | SFr 67 | |||
Sale Leaseback Transaction, Period of Leaseback (Year) | 5 years | 5 years | |||
Sale and Leaseback Transaction, Gain (Loss), Net | $ 33,000 | SFr 30 | |||
Minimum [Member] | |||||
Lessee, Operating Lease, Remaining Lease Term (Month) | 1 month | ||||
Lessee, Operating Lease, Renewal Term (Year) | 1 year | ||||
Maximum [Member] | |||||
Lessee, Operating Lease, Remaining Lease Term (Month) | 37 years | ||||
Lessee, Operating Lease, Renewal Term (Year) | 30 years | ||||
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract (Year) | 7 years |
Note 9 - Leases - Components of
Note 9 - Leases - Components of Lease Expense and Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Operating lease expense | [1],[2] | $ 66 | $ 56 |
Operating cash flows from operating leases | 74 | 53 | |
Leased assets obtained in exchange for new operating lease liabilities | 91 | 416 | |
Cost of Sales [Member] | |||
Operating lease expense | 34 | 35 | |
Selling, General and Administrative Expenses [Member] | |||
Operating lease expense | 26 | 15 | |
Research and Development Expense [Member] | |||
Operating lease expense | $ 6 | $ 6 | |
[1] | Total operating lease expense for the year ended December 31, 2018 was $55 million. | ||
[2] | Total operating lease expense includes short-term lease expense of approximately $3 million and $1 million for the years ended December 31, 2020 and 2019, respectively. |
Note 9 - Leases - Lease Term an
Note 9 - Leases - Lease Term and Discount Rate (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Weighted-average remaining lease term (Year) | 11 years | 11 years |
Weighted-average discount rate | 4.00% | 4.10% |
Note 9 - Leases - Undiscounted
Note 9 - Leases - Undiscounted Cash Flows (Details) $ in Millions | Dec. 31, 2020USD ($) |
2021 | $ 68 |
2022 | 62 |
2023 | 58 |
2024 | 55 |
2025 | 51 |
Thereafter | 276 |
Total lease payments | 570 |
Less imputed interest | (107) |
Total | $ 463 |
Note 10 - Intangible Assets (De
Note 10 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Amortization of Intangible Assets, Total | $ 33 | $ 16 | $ 6 |
Huntsman International LLC [Member] | |||
Amortization of Intangible Assets, Total | $ 33 | $ 16 | $ 6 |
Note 10 - Intangible Assets - G
Note 10 - Intangible Assets - Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Carrying Amount | $ 808 | $ 518 | |
Accumulated Amortization | 355 | 321 | |
Net | 453 | 197 | |
Huntsman International LLC [Member] | |||
Carrying Amount | 816 | 527 | |
Accumulated Amortization | 363 | 330 | |
Net | 453 | 197 | |
Patents, Trademarks and Technology [Member] | |||
Carrying Amount | 316 | 314 | |
Accumulated Amortization | 237 | 230 | |
Net | 79 | 84 | |
Patents, Trademarks and Technology [Member] | Huntsman International LLC [Member] | |||
Carrying Amount | 316 | 314 | |
Accumulated Amortization | 237 | 230 | |
Net | 79 | 84 | |
Licensing Agreements [Member] | |||
Carrying Amount | 140 | 140 | |
Accumulated Amortization | 61 | 48 | |
Net | 79 | 92 | |
Licensing Agreements [Member] | Huntsman International LLC [Member] | |||
Carrying Amount | 140 | 140 | |
Accumulated Amortization | 61 | 48 | |
Net | 79 | 92 | |
Noncompete Agreements [Member] | |||
Carrying Amount | 3 | 3 | |
Accumulated Amortization | 2 | 2 | |
Net | 1 | 1 | |
Noncompete Agreements [Member] | Huntsman International LLC [Member] | |||
Carrying Amount | 3 | 3 | |
Accumulated Amortization | 2 | 2 | |
Net | 1 | 1 | |
Other Intangible Assets [Member] | |||
Carrying Amount | [1] | 349 | 61 |
Accumulated Amortization | 55 | 41 | |
Net | 294 | 20 | |
Other Intangible Assets [Member] | Huntsman International LLC [Member] | |||
Carrying Amount | [1] | 357 | 70 |
Accumulated Amortization | [1] | 63 | 50 |
Net | [1] | $ 294 | $ 20 |
[1] | Includes provisional intangible asset fair values related to the CVC Thermoset Specialties Acquisition and the Icynene-Lapolla Acquisition. For more information, see "Note 3. Business Combinations and Acquisitions." |
Note 10 - Intangible Assets - E
Note 10 - Intangible Assets - Estimated Future Amortization Expense (Details) $ in Millions | Dec. 31, 2020USD ($) |
2021 | $ 30 |
2022 | 34 |
2023 | 34 |
2024 | 34 |
2025 | $ 34 |
Note 11 - Other Noncurrent As_3
Note 11 - Other Noncurrent Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Amortization Expense of Catalyst, Assets | $ 8 | $ 9 | $ 10 |
Note 11 - Other Noncurrent As_4
Note 11 - Other Noncurrent Assets - Summary of Other Noncurrent Assets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Capitalized turnaround costs, net | $ 250 | $ 223 | |
Equity Securities, FV-NI | 32 | 0 | |
Catalyst assets, net | 27 | 24 | |
Other | 239 | 205 | |
Total | [1] | $ 548 | $ 452 |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." |
Note 12 - Accrued Liabilities -
Note 12 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Payroll and related accruals | $ 97 | $ 100 | |
Income taxes | 73 | 59 | |
Taxes other than income taxes | 56 | 64 | |
Volume and rebate accruals | 55 | 53 | |
Other miscellaneous accruals | 177 | 144 | |
Total | [1] | 458 | 420 |
Huntsman International LLC [Member] | |||
Payroll and related accruals | 97 | 100 | |
Income taxes | 73 | 59 | |
Taxes other than income taxes | 56 | 64 | |
Volume and rebate accruals | 55 | 53 | |
Other miscellaneous accruals | 174 | 141 | |
Total | [2] | $ 455 | $ 417 |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||
[2] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." |
Note 13 - Restructuring, Impa_3
Note 13 - Restructuring, Impairment and Plant Closing Costs (Credits) (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2023 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Proceeds from Sale of Productive Assets, Total | $ 75 | $ 50 | $ 0 | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 281 | 49 | (3) | |||
Restructuring Reserve, Accrual Adjustment | (1) | (4) | (31) | |||
Corporate and Reconciling Items [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | 0 | 0 | (1) | |||
Corporate and Reconciling Items [Member] | Corporate Initiatives [Member] | ||||||
Restructuring Charges, Total | 15 | |||||
Polyurethanes [Member] | Operating Segments [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | 0 | 0 | 0 | |||
Performance Products [Member] | Operating Segments [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | 0 | 0 | (1) | |||
Advanced Materials [Member] | Operating Segments [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | (1) | 0 | 0 | |||
Textile Effects [Member] | Operating Segments [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | 0 | (4) | (29) | |||
Textile Effects [Member] | Operating Segments [Member] | Basel, Switzerland [Member] | ||||||
Restructuring and Related Cost, Gain on Sale of Land | 4 | |||||
Textile Effects [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Basel, Switzerland Production Facilities and Support Offices [Member] | ||||||
Proceeds from Sale of Productive Assets, Total | $ 49 | |||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 49 | |||||
Employee Severance [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | 0 | (2) | (2) | |||
Employee Severance [Member] | Polyurethanes [Member] | ||||||
Restructuring Charges, Total | 9 | |||||
Restructuring and Related Cost, Expected Cost, Total | 4 | |||||
Employee Severance [Member] | Performance Products [Member] | ||||||
Restructuring Charges, Total | 4 | |||||
Employee Severance [Member] | Advanced Materials [Member] | ||||||
Restructuring Charges, Total | 10 | |||||
Employee Severance [Member] | Textile Effects [Member] | ||||||
Restructuring Charges, Total | 7 | |||||
Program to Optimize Downstream Footprint [Member] | Polyurethanes [Member] | ||||||
Restructuring Charges, Total | 12 | |||||
Program to Optimize Downstream Footprint [Member] | Polyurethanes [Member] | Minimum [Member] | ||||||
Restructuring and Related Cost, Expected Cost, Total | 15 | |||||
Program to Optimize Downstream Footprint [Member] | Polyurethanes [Member] | Maximum [Member] | ||||||
Restructuring and Related Cost, Expected Cost, Total | 20 | |||||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | ||||||
Restructuring Reserve, Accrual Adjustment | $ 0 | 0 | $ (29) | |||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Textile Effects [Member] | Operating Segments [Member] | Basel, Switzerland [Member] | ||||||
Restructuring Settlement To Be Made | $ 10 | |||||
Payments for Restructuring | $ 8 | |||||
Restructuring Reserve, Accrual Adjustment | $ 29 | |||||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Textile Effects [Member] | Operating Segments [Member] | Basel, Switzerland [Member] | Forecast [Member] | ||||||
Payments for Restructuring | $ 2 |
Note 13 - Restructuring, Impa_4
Note 13 - Restructuring, Impairment and Plant Closing Costs (Credits) - Accrued Restructuring Costs By Type of Cost and Initiative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accrued liabilities | $ 17 | $ 28 | $ 53 |
Restructuring Reserve, Accrual Adjustment | (1) | (4) | (31) |
Foreign currency effect on liability balance | 1 | ||
Accrued liabilities | 31 | 17 | 28 |
Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 2 | ||
Restructuring payments | (5) | ||
Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 15 | ||
Restructuring payments | (6) | ||
Initiatives 2018 and Prior [Member] | |||
Restructuring Charges, Total | 6 | ||
Restructuring payments | (20) | ||
Restructuring charges (credits) | 6 | ||
Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 8 | ||
Restructuring payments | (1) | ||
Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 5 | ||
Restructuring payments | (16) | ||
Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 38 | ||
Restructuring payments | (13) | ||
Employee Severance [Member] | |||
Accrued liabilities | 8 | 5 | 5 |
Restructuring Reserve, Accrual Adjustment | 0 | (2) | (2) |
Foreign currency effect on liability balance | 1 | ||
Accrued liabilities | 29 | 8 | 5 |
Employee Severance [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | (2) | ||
Employee Severance [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 5 | ||
Restructuring payments | (1) | ||
Employee Severance [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (4) | ||
Restructuring charges (credits) | 2 | ||
Employee Severance [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 7 | ||
Restructuring payments | 0 | ||
Employee Severance [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | (5) | ||
Employee Severance [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 35 | ||
Restructuring payments | (10) | ||
Demolition and Decommissioning [Member] | |||
Accrued liabilities | 0 | 1 | 2 |
Restructuring Reserve, Accrual Adjustment | 0 | 0 | 0 |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 0 | 0 | 1 |
Demolition and Decommissioning [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | (1) | ||
Demolition and Decommissioning [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Demolition and Decommissioning [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | 0 | ||
Restructuring charges (credits) | (1) | ||
Demolition and Decommissioning [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Demolition and Decommissioning [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Demolition and Decommissioning [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | |||
Accrued liabilities | 7 | 12 | 41 |
Restructuring Reserve, Accrual Adjustment | 0 | 0 | (29) |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 2 | 7 | 12 |
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 2 | ||
Restructuring payments | (2) | ||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (7) | ||
Restructuring charges (credits) | 2 | ||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 2 | ||
Restructuring payments | (7) | ||
Non-cancelable Lease Cost and Contract Termination Costs [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Other Restructuring [Member] | |||
Accrued liabilities | 2 | 10 | 5 |
Restructuring Reserve, Accrual Adjustment | (1) | (2) | 0 |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 0 | 2 | 10 |
Other Restructuring [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Other Restructuring [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 10 | ||
Restructuring payments | $ (5) | ||
Other Restructuring [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (9) | ||
Restructuring charges (credits) | 3 | ||
Other Restructuring [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 1 | ||
Restructuring payments | $ (1) | ||
Other Restructuring [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 3 | ||
Restructuring payments | (4) | ||
Other Restructuring [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 3 | ||
Restructuring payments | $ (3) |
Note 13 - Restructuring, Impa_5
Note 13 - Restructuring, Impairment and Plant Closing Costs (Credits) - Reserves for Restructuring, Impairment and Plant Closing Costs By Segment and Initiative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accrued liabilities | $ 17 | $ 28 | $ 53 |
Restructuring Reserve, Accrual Adjustment | (1) | (4) | (31) |
Foreign currency effect on liability balance | 1 | ||
Accrued liabilities | 31 | 17 | 28 |
Current portion of restructuring reserves | 26 | ||
Long-term portion of restructuring reserves | 5 | ||
Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 2 | ||
Restructuring payments | (5) | ||
Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 15 | ||
Restructuring payments | (6) | ||
Initiatives 2018 and Prior [Member] | |||
Restructuring Charges, Total | 6 | ||
Restructuring payments | (20) | ||
Restructuring charges (credits) | 6 | ||
Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 8 | ||
Restructuring payments | (1) | ||
Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 5 | ||
Restructuring payments | (16) | ||
Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 38 | ||
Restructuring payments | (13) | ||
Corporate and Reconciling Items [Member] | |||
Accrued liabilities | 4 | 7 | 1 |
Restructuring Reserve, Accrual Adjustment | 0 | 0 | (1) |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 0 | 4 | 7 |
Current portion of restructuring reserves | 0 | ||
Long-term portion of restructuring reserves | 0 | ||
Corporate and Reconciling Items [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 5 | ||
Restructuring payments | (3) | ||
Corporate and Reconciling Items [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 10 | ||
Restructuring payments | (5) | ||
Corporate and Reconciling Items [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (8) | ||
Restructuring charges (credits) | 4 | ||
Corporate and Reconciling Items [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 1 | ||
Restructuring payments | 0 | ||
Corporate and Reconciling Items [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 4 | ||
Restructuring payments | (8) | ||
Corporate and Reconciling Items [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 2 | ||
Restructuring payments | (2) | ||
Polyurethanes [Member] | Operating Segments [Member] | |||
Accrued liabilities | 0 | 0 | 1 |
Restructuring Reserve, Accrual Adjustment | 0 | 0 | 0 |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 12 | 0 | 0 |
Current portion of restructuring reserves | 12 | ||
Long-term portion of restructuring reserves | 0 | ||
Polyurethanes [Member] | Operating Segments [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | (1) | ||
Polyurethanes [Member] | Operating Segments [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Polyurethanes [Member] | Operating Segments [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | 0 | ||
Restructuring charges (credits) | 0 | ||
Polyurethanes [Member] | Operating Segments [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Polyurethanes [Member] | Operating Segments [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | (1) | ||
Polyurethanes [Member] | Operating Segments [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 16 | ||
Restructuring payments | (3) | ||
Performance Products [Member] | Operating Segments [Member] | |||
Accrued liabilities | 0 | 1 | 1 |
Restructuring Reserve, Accrual Adjustment | 0 | 0 | (1) |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 2 | 0 | 1 |
Current portion of restructuring reserves | 2 | ||
Long-term portion of restructuring reserves | 0 | ||
Performance Products [Member] | Operating Segments [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 1 | ||
Restructuring payments | (1) | ||
Performance Products [Member] | Operating Segments [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 2 | ||
Restructuring payments | (1) | ||
Performance Products [Member] | Operating Segments [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (1) | ||
Restructuring charges (credits) | 0 | ||
Performance Products [Member] | Operating Segments [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Performance Products [Member] | Operating Segments [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 1 | ||
Restructuring payments | 0 | ||
Performance Products [Member] | Operating Segments [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 4 | ||
Restructuring payments | (3) | ||
Advanced Materials [Member] | Operating Segments [Member] | |||
Accrued liabilities | 10 | 6 | 3 |
Restructuring Reserve, Accrual Adjustment | (1) | 0 | 0 |
Foreign currency effect on liability balance | 0 | ||
Accrued liabilities | 9 | 10 | 6 |
Current portion of restructuring reserves | 6 | ||
Long-term portion of restructuring reserves | 3 | ||
Advanced Materials [Member] | Operating Segments [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | 0 | ||
Advanced Materials [Member] | Operating Segments [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 3 | ||
Restructuring payments | 0 | ||
Advanced Materials [Member] | Operating Segments [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (2) | ||
Restructuring charges (credits) | 0 | ||
Advanced Materials [Member] | Operating Segments [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 7 | ||
Restructuring payments | (1) | ||
Advanced Materials [Member] | Operating Segments [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | (1) | ||
Restructuring payments | (5) | ||
Advanced Materials [Member] | Operating Segments [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 9 | ||
Restructuring payments | (3) | ||
Textile Effects [Member] | Operating Segments [Member] | |||
Accrued liabilities | 3 | 14 | 47 |
Restructuring Reserve, Accrual Adjustment | 0 | (4) | (29) |
Foreign currency effect on liability balance | 1 | ||
Accrued liabilities | 8 | 3 | 14 |
Current portion of restructuring reserves | 6 | ||
Long-term portion of restructuring reserves | 2 | ||
Textile Effects [Member] | Operating Segments [Member] | Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | (4) | ||
Restructuring payments | 0 | ||
Textile Effects [Member] | Operating Segments [Member] | Initiatives 2018 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | $ 0 | ||
Textile Effects [Member] | Operating Segments [Member] | Initiatives 2018 and Prior [Member] | |||
Restructuring payments | (9) | ||
Restructuring charges (credits) | 2 | ||
Textile Effects [Member] | Operating Segments [Member] | Initiatives 2019 [Member] | |||
Restructuring Charges, Total | 0 | ||
Restructuring payments | $ 0 | ||
Textile Effects [Member] | Operating Segments [Member] | Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 1 | ||
Restructuring payments | (2) | ||
Textile Effects [Member] | Operating Segments [Member] | Initiatives 2020 [Member] | |||
Restructuring Charges, Total | 7 | ||
Restructuring payments | $ (2) |
Note 13 - Restructuring, Impa_6
Note 13 - Restructuring, Impairment and Plant Closing Costs (Credits) - Cash and Noncash Restructuring Charges (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reversal of reserves no longer required | $ (1) | $ (4) | $ (31) |
Accelerated depreciation | 7 | ||
Total restructuring, impairment and plant closing credits | 49 | (41) | (7) |
Gain on sale of assets | (49) | ||
Other noncash credits | (2) | 7 | |
Initiatives 2019 and Prior [Member] | |||
Restructuring Charges, Total | 5 | ||
Initiatives 2020 [Member] | |||
Restructuring Charges, Total | $ 38 | ||
Initiatives 2018 and Prior [Member] | |||
Restructuring Charges, Total | 6 | ||
Initiatives 2019 [Member] | |||
Restructuring Charges, Total | $ 8 | ||
Initiatives 2017 and Prior [Member] | |||
Restructuring Charges, Total | 2 | ||
Initiatives 2018 [Member] | |||
Restructuring Charges, Total | $ 15 |
Note 14 - Other Noncurrent Li_3
Note 14 - Other Noncurrent Liabilities - Summary of Other Noncurrent Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Pension liabilities | $ 680 | $ 650 | |
Other postretirement benefits | 59 | 55 | |
Employee benefit accrual | 44 | 38 | |
Other | 127 | 155 | |
Total | [1] | 910 | 898 |
Huntsman International LLC [Member] | |||
Pension liabilities | 680 | 650 | |
Other postretirement benefits | 59 | 55 | |
Employee benefit accrual | 44 | 38 | |
Other | 117 | 147 | |
Total | [2] | $ 900 | $ 890 |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||
[2] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." |
Note 15 - Debt (Details Textual
Note 15 - Debt (Details Textual) ā¬ in Millions, $ in Millions | Jan. 15, 2021USD ($) | Jan. 15, 2021EUR (ā¬) | Sep. 30, 2019 | Mar. 27, 2019USD ($) | Mar. 13, 2019USD ($) | May 21, 2018USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020USD ($) | Jan. 03, 2020USD ($) | Sep. 24, 2019USD ($) | Sep. 24, 2019EUR (ā¬) | Apr. 18, 2019EUR (ā¬) | Apr. 17, 2019EUR (ā¬) | |
Debt Issuance Costs, Net, Total | $ 9 | $ 11 | $ 9 | ||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | 0 | (23) | $ (3) | ||||||||||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 0 | 21 | 0 | ||||||||||||||
Total Debt, Excluding Debt to Affiliates | 2,121 | 2,121 | |||||||||||||||
Long-term Debt, Current Maturities, Total | [1] | 593 | 212 | 593 | |||||||||||||
Long-term Debt, Excluding Current Maturities, Total | [1] | 1,528 | 2,177 | 1,528 | |||||||||||||
Notes Receivable, Related Parties | $ 380 | $ 380 | |||||||||||||||
Sasol-Huntsman [Member] | |||||||||||||||||
Variable Interest Entity, Ownership Percentage Acquired | 50.00% | ||||||||||||||||
Arabian Amines Company [Member] | |||||||||||||||||
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 50.00% | 50.00% | |||||||||||||||
Total Debt, Excluding Debt to Affiliates | $ 50 | $ 50 | |||||||||||||||
Long-term Debt, Current Maturities, Total | 47 | 47 | |||||||||||||||
Long-term Debt, Excluding Current Maturities, Total | 3 | 3 | |||||||||||||||
Senior Notes Maturing April 2021 [Member] | Subsequent Event [Member] | |||||||||||||||||
Debt Instrument, Redemption Price, Percentage | 100.00% | 100.00% | |||||||||||||||
Debt Instrument, Amount Redeemed | $ 541 | ā¬ 445 | |||||||||||||||
Huntsman International LLC [Member] | |||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | 0 | (23) | (3) | ||||||||||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 0 | 21 | $ 0 | ||||||||||||||
Long-term Debt, Current Maturities, Total | [2] | 593 | 212 | 593 | |||||||||||||
Long-term Debt, Excluding Current Maturities, Total | [2] | 1,528 | 2,177 | 1,528 | |||||||||||||
Huntsman International LLC [Member] | Sasol-Huntsman [Member] | |||||||||||||||||
Variable Interest Entity, Ownership Percentage Acquired | 50.00% | ||||||||||||||||
Huntsman International LLC [Member] | The 2018 Revolving Credit Facility [Member] | |||||||||||||||||
Line Of Credit Facility, Contingent Increase, Additional Borrowing Capacity | $ 500 | ||||||||||||||||
Letters of Credit Outstanding, Amount | $ 6 | 6 | |||||||||||||||
Huntsman International LLC [Member] | The 2018 Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | [3] | 1.50% | |||||||||||||||
Huntsman International LLC [Member] | Prior Credit Facility [Member] | |||||||||||||||||
Repayments of Long-term Lines of Credit | 650 | ||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (3) | ||||||||||||||||
Huntsman International LLC [Member] | The 2019 Term Loan [Member] | |||||||||||||||||
Debt Instrument, Face Amount | $ 101 | ā¬ 92 | |||||||||||||||
Huntsman International LLC [Member] | US Accounts Receivable Program Maturing March 2018 [Member] | |||||||||||||||||
Maximum Funding Availability | ā¬ | ā¬ 100 | ā¬ 150 | |||||||||||||||
Huntsman International LLC [Member] | US Accounts Receivable Program Maturing April 2022 [Member] | |||||||||||||||||
Letters of Credit Outstanding, Amount | $ 4 | 4 | |||||||||||||||
Maximum Funding Availability | 250 | $ 150 | |||||||||||||||
Huntsman International LLC [Member] | Accounts Receivable Programs [Member] | |||||||||||||||||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral, Total | $ 198 | $ 221 | $ 198 | ||||||||||||||
Huntsman International LLC [Member] | The Senior Notes [Member] | Debt Instrument Redemption Period Upon Occurrence of Certain Change of Control Events [Member] | |||||||||||||||||
Debt Instrument, Redemption Price, Percentage | 101.00% | ||||||||||||||||
Huntsman International LLC [Member] | The 2029 Senior Notes [Member] | |||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (23) | ||||||||||||||||
Debt Instrument, Face Amount | $ 750 | ||||||||||||||||
Debt Instrument, Redemption Price, Percentage | 100.00% | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||||||||||||||||
Huntsman International LLC [Member] | The 2020 Senior Notes [Member] | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||||||||||||||||
Early Repayment of Senior Debt | $ 650 | ||||||||||||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | 21 | ||||||||||||||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | $ 12 | ||||||||||||||||
Huntsman International LLC [Member] | Senior Notes Maturing April 2021 [Member] | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.125% | 5.125% | |||||||||||||||
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||||||||||||||||
[2] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." | ||||||||||||||||
[3] | Interest rates on borrowings under the Revolving Credit Facility vary based on the type of loan and Huntsman International's debt ratings. The then applicable interest rate as of December 31, 2020 was 1.50% above LIBOR. |
Note 15 - Debt - Outstanding De
Note 15 - Debt - Outstanding Debt (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Total debt, excluding debt to affiliates | $ 2,121 | $ 2,389 | |
Total current portion of debt | [1] | 593 | 212 |
Long-term portion of debt | [1] | 1,528 | 2,177 |
Total debt | 2,121 | 2,389 | |
Total debt, excluding debt to affiliates | 2,121 | 2,389 | |
Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 2,121 | 2,389 | |
Total current portion of debt | [2] | 593 | 212 |
Long-term portion of debt | [2] | 1,528 | 2,177 |
Total debt | 2,121 | 2,769 | |
Total debt, excluding debt to affiliates | 2,121 | 2,389 | |
Notes payable to affiliates-current | 0 | 100 | |
Notes payable to affiliates-noncurrent | 0 | 280 | |
The 2018 Revolving Credit Facility [Member] | |||
Total debt, excluding debt to affiliates | 0 | 40 | |
Total debt, excluding debt to affiliates | 0 | 40 | |
The 2018 Revolving Credit Facility [Member] | Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 0 | 40 | |
Total debt | [3] | 0 | |
Total debt, excluding debt to affiliates | 0 | 40 | |
Accounts Receivable Programs [Member] | |||
Total debt, excluding debt to affiliates | 0 | 167 | |
Total debt, excluding debt to affiliates | 0 | 167 | |
Accounts Receivable Programs [Member] | Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 0 | 167 | |
Total debt, excluding debt to affiliates | 0 | 167 | |
The 2019 Term Loan [Member] | |||
Total debt, excluding debt to affiliates | 0 | 103 | |
Total debt, excluding debt to affiliates | 0 | 103 | |
The 2019 Term Loan [Member] | Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 0 | 103 | |
Total debt, excluding debt to affiliates | 0 | 103 | |
The Senior Notes [Member] | |||
Total debt, excluding debt to affiliates | 2,047 | 1,963 | |
Total debt, excluding debt to affiliates | 2,047 | 1,963 | |
The Senior Notes [Member] | Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 2,047 | 1,963 | |
Total debt, excluding debt to affiliates | 2,047 | 1,963 | |
Variable Interest Entities Debt [Member] | |||
Total debt, excluding debt to affiliates | 50 | 65 | |
Total debt, excluding debt to affiliates | 50 | 65 | |
Variable Interest Entities Debt [Member] | Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 50 | 65 | |
Total debt, excluding debt to affiliates | 50 | 65 | |
Other Debt Instruments [Member] | |||
Total debt, excluding debt to affiliates | 24 | 51 | |
Total debt, excluding debt to affiliates | 24 | 51 | |
Other Debt Instruments [Member] | Huntsman International LLC [Member] | |||
Total debt, excluding debt to affiliates | 24 | 51 | |
Total debt, excluding debt to affiliates | $ 24 | $ 51 | |
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | ||
[2] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease liabilities and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheet captions above. See "Note 8. Variable Interest Entities." | ||
[3] | On December 31, 2020, we had an additional $6 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Credit Facility. |
Note 15 - Debt - Revolving Cred
Note 15 - Debt - Revolving Credit Facility (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Amount outstanding | $ 2,121 | $ 2,389 | |
Huntsman International LLC [Member] | |||
Amount outstanding | 2,121 | $ 2,769 | |
The 2018 Revolving Credit Facility [Member] | Huntsman International LLC [Member] | |||
Committed amount | 1,200 | ||
Principal outstanding | [1] | 0 | |
Unamortized discounts and debt issuance costs | [1] | 0 | |
Amount outstanding | [1] | $ 0 | |
Maturity | Dec. 31, 2023 | ||
The 2018 Revolving Credit Facility [Member] | Huntsman International LLC [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Interest rate | [2] | 1.50% | |
[1] | On December 31, 2020, we had an additional $6 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Credit Facility. | ||
[2] | Interest rates on borrowings under the Revolving Credit Facility vary based on the type of loan and Huntsman International's debt ratings. The then applicable interest rate as of December 31, 2020 was 1.50% above LIBOR. |
Note 15 - Debt - Accounts Recei
Note 15 - Debt - Accounts Receivable Programs (Details) $ in Thousands, ā¬ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (ā¬) | Dec. 31, 2019USD ($) | ||
Amount outstanding | $ 2,121,000 | $ 2,389,000 | ||
Approximate maximum funding availability under all A/R programs | 123,000 | |||
Approximate amount outstanding under all A/R programs | $ 0 | |||
US A/R Program [Member] | ||||
Maturity | Apr. 30, 2022 | |||
Maximum funding availability | [1] | $ 150,000 | ||
Amount outstanding | [2] | $ 0 | ||
US A/R Program [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Interest rate | [3] | 0.90% | ||
EU A/R Program [Member] | ||||
Maturity | Apr. 30, 2022 | |||
Maximum funding availability | ā¬ | [1] | ā¬ 100 | ||
Amount outstanding | ā¬ | ā¬ 0 | |||
EU A/R Program [Member] | GBP LIBOR, USD LIBOR or EURIBOR [Member] | ||||
Interest rate | [3] | 1.30% | ||
[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] | As of December 31, 2020, we had approximately $4 million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program. | |||
[3] | The applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. The applicable rate for our EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR. |
Note 15 - Debt - Notes Outstand
Note 15 - Debt - Notes Outstanding (Details) - Huntsman International LLC [Member] ā¬ in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (ā¬) |
Senior Notes Maturing April 2021 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.125% | 5.125% |
Principal outstanding | ā¬ | ā¬ 445 | |
Unamortized premiums, discounts and debt issuance costs | $ 0 | |
Senior Notes Maturing November 2022 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.125% | 5.125% |
Principal outstanding | $ 400 | |
Unamortized premiums, discounts and debt issuance costs | $ 1 | |
Senior Notes Maturing April 2025 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | 4.25% |
Principal outstanding | ā¬ | ā¬ 300 | |
Unamortized premiums, discounts and debt issuance costs | $ 2 | |
Senior Notes Maturing February 2029 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% |
Principal outstanding | $ 750 | |
Unamortized premiums, discounts and debt issuance costs | $ 13 |
Note 15 - Debt - Notes Outsta_2
Note 15 - Debt - Notes Outstanding (Details) (Parentheticals) ā¬ in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (ā¬) | Dec. 31, 2019USD ($) |
Carrying amount of debt | $ 2,121 | $ 2,389 | |
Huntsman International LLC [Member] | |||
Carrying amount of debt | 2,121 | $ 2,769 | |
Huntsman International LLC [Member] | Senior Notes Maturing April 2021 [Member] | |||
Carrying amount of debt | 545 | ā¬ 445 | |
Huntsman International LLC [Member] | Senior Notes Maturing November 2022 [Member] | |||
Carrying amount of debt | 399 | ||
Huntsman International LLC [Member] | Senior Notes Maturing April 2025 [Member] | |||
Carrying amount of debt | 366 | ā¬ 298 | |
Huntsman International LLC [Member] | Senior Notes Maturing February 2029 [Member] | |||
Carrying amount of debt | $ 750 |
Note 15 - Debt - Scheduled Matu
Note 15 - Debt - Scheduled Maturities of Debt (Details) $ in Millions | Dec. 31, 2020USD ($) |
2021 | $ 593 |
2022 | 403 |
2023 | 1 |
2024 | 2 |
2025 | 369 |
Thereafter | 753 |
Total Debt, Excluding Debt to Affiliates | $ 2,121 |
Note 16 - Derivative Instrume_2
Note 16 - Derivative Instruments and Hedging Activities (Details Textual) ā¬ in Millions, $ in Millions | Jan. 09, 2019USD ($) | Nov. 30, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020EUR (ā¬) |
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax | $ 66 | $ 14 | $ 35 | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative, Term of Contract (Year) | 6 years | |||||
Derivative, Notional Amount | $ 17 | |||||
Derivative, Fixed Interest Rate | 2.66% | |||||
Derivative, Payment to Counterparties | $ 1 | |||||
Foreign Exchange Contract [Member] | ||||||
Derivative, Notional Amount | $ 145 | $ 135 | ||||
Derivative, Maximum Maturity Period (Month) | 3 months | |||||
Derivative Instruments, Approximate Term of Foreign Currency Contracts (Month) | 1 month | |||||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative, Notional Amount | $ 641 | ā¬ 523 |
Note 17 - Fair Value (Details T
Note 17 - Fair Value (Details Textual) Pure in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Number of Instruments Categorized as Level Three | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ 0 | $ 0 |
Note 17 - Fair Value - Fair Val
Note 17 - Fair Value - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Compensation Plan Assets | $ 44 | $ 39 |
Reported Value Measurement [Member] | ||
Deferred Compensation Plan Assets | 26 | 28 |
Option agreement for remaining Venator shares | 11 | 0 |
Long-term debt (including current portion) | (2,121) | (2,389) |
Estimate of Fair Value Measurement [Member] | ||
Deferred Compensation Plan Assets | 26 | 28 |
Option agreement for remaining Venator shares | 11 | 0 |
Long-term debt (including current portion) | $ (2,334) | $ (2,544) |
Note 18 - Revenue Recognition -
Note 18 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Total revenues | [1] | $ 6,018 | $ 6,797 | $ 7,604 |
MDI Urethanes [Member] | ||||
Total revenues | 3,584 | 3,911 | 4,282 | |
Differentiated [Member] | ||||
Total revenues | 1,023 | 1,158 | 1,301 | |
Specialty [Member] | ||||
Total revenues | 746 | 891 | 932 | |
Non-specialty [Member] | ||||
Total revenues | 93 | 153 | 184 | |
Textile Chemicals and Dyes [Member] | ||||
Total revenues | 597 | 763 | 824 | |
Operating Segments [Member] | Polyurethanes [Member] | ||||
Total revenues | [1] | 3,584 | 3,911 | 4,282 |
Operating Segments [Member] | Polyurethanes [Member] | MDI Urethanes [Member] | ||||
Total revenues | 3,584 | 3,911 | 4,282 | |
Operating Segments [Member] | Performance Products [Member] | ||||
Total revenues | [1] | 1,023 | 1,158 | 1,301 |
Operating Segments [Member] | Performance Products [Member] | Differentiated [Member] | ||||
Total revenues | 1,023 | 1,158 | 1,301 | |
Operating Segments [Member] | Advanced Materials [Member] | ||||
Total revenues | [1] | 839 | 1,044 | 1,116 |
Operating Segments [Member] | Advanced Materials [Member] | Specialty [Member] | ||||
Total revenues | 746 | 891 | 932 | |
Operating Segments [Member] | Advanced Materials [Member] | Non-specialty [Member] | ||||
Total revenues | 93 | 153 | 184 | |
Operating Segments [Member] | Textile Effects [Member] | ||||
Total revenues | [1] | 597 | 763 | 824 |
Operating Segments [Member] | Textile Effects [Member] | Textile Chemicals and Dyes [Member] | ||||
Total revenues | 597 | 763 | 824 | |
Segment Reconciling Items [Member] | ||||
Total revenues | [1] | (25) | (79) | 81 |
Intersegment Eliminations [Member] | ||||
Total revenues | (25) | (79) | 81 | |
U.S. and Canada [Member] | ||||
Total revenues | [1] | 2,051 | 2,293 | 2,487 |
U.S. and Canada [Member] | Operating Segments [Member] | Polyurethanes [Member] | ||||
Total revenues | [1] | 1,362 | 1,475 | 1,426 |
U.S. and Canada [Member] | Operating Segments [Member] | Performance Products [Member] | ||||
Total revenues | [1] | 447 | 531 | 586 |
U.S. and Canada [Member] | Operating Segments [Member] | Advanced Materials [Member] | ||||
Total revenues | [1] | 217 | 289 | 285 |
U.S. and Canada [Member] | Operating Segments [Member] | Textile Effects [Member] | ||||
Total revenues | [1] | 48 | 62 | 68 |
U.S. and Canada [Member] | Segment Reconciling Items [Member] | ||||
Total revenues | [1] | (23) | (64) | 122 |
Europe [Member] | ||||
Total revenues | [1] | 1,629 | 1,896 | 2,209 |
Europe [Member] | Operating Segments [Member] | Polyurethanes [Member] | ||||
Total revenues | [1] | 961 | 1,051 | 1,277 |
Europe [Member] | Operating Segments [Member] | Performance Products [Member] | ||||
Total revenues | [1] | 252 | 316 | 368 |
Europe [Member] | Operating Segments [Member] | Advanced Materials [Member] | ||||
Total revenues | [1] | 319 | 410 | 445 |
Europe [Member] | Operating Segments [Member] | Textile Effects [Member] | ||||
Total revenues | [1] | 98 | 128 | 135 |
Europe [Member] | Segment Reconciling Items [Member] | ||||
Total revenues | [1] | (1) | (9) | (16) |
Asia Pacific [Member] | ||||
Total revenues | [1] | 1,841 | 2,039 | 2,276 |
Asia Pacific [Member] | Operating Segments [Member] | Polyurethanes [Member] | ||||
Total revenues | [1] | 997 | 1,078 | 1,236 |
Asia Pacific [Member] | Operating Segments [Member] | Performance Products [Member] | ||||
Total revenues | [1] | 260 | 248 | 278 |
Asia Pacific [Member] | Operating Segments [Member] | Advanced Materials [Member] | ||||
Total revenues | [1] | 224 | 269 | 301 |
Asia Pacific [Member] | Operating Segments [Member] | Textile Effects [Member] | ||||
Total revenues | [1] | 360 | 446 | 485 |
Asia Pacific [Member] | Segment Reconciling Items [Member] | ||||
Total revenues | [1] | 0 | (2) | (24) |
Rest of World [Member] | ||||
Total revenues | [1] | 497 | 569 | 632 |
Rest of World [Member] | Operating Segments [Member] | Polyurethanes [Member] | ||||
Total revenues | [1] | 264 | 307 | 343 |
Rest of World [Member] | Operating Segments [Member] | Performance Products [Member] | ||||
Total revenues | [1] | 64 | 63 | 69 |
Rest of World [Member] | Operating Segments [Member] | Advanced Materials [Member] | ||||
Total revenues | [1] | 79 | 76 | 85 |
Rest of World [Member] | Operating Segments [Member] | Textile Effects [Member] | ||||
Total revenues | [1] | 91 | 127 | 136 |
Rest of World [Member] | Segment Reconciling Items [Member] | ||||
Total revenues | [1] | $ (1) | $ (4) | $ (1) |
[1] | Geographic information for revenues is based upon countries into which product is sold. |
Note 19 - Employee Benefit Pl_3
Note 19 - Employee Benefit Plans (Details Textual) shares in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | May 05, 2016shares | |
Deferred Compensation Arrangement with Individual, Percentage of Salary, Maximum Defer | 75.00% | |||
Deferred Compensation Plan Assets | $ 44 | $ 39 | ||
Deferred Compensation Arrangement, Compensation Expense | $ 1 | 1 | $ 1 | |
Huntsman Corporation 2016 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | shares | 8,200 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | shares | 7,000 | |||
Huntsman Corporation Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | shares | 0 | |||
UNITED STATES | ||||
Defined Contribution Plan, Cost | $ 17 | 17 | 16 | |
Foreign Plan [Member] | ||||
Defined Contribution Plan, Cost | $ 3 | 4 | 4 | |
Money Purchase Pension Plan [Member] | UNITED STATES | ||||
Defined Contribution Plan, Employer Non-discretionary Contribution, Percent | 8.00% | |||
Huntsman UK Pension Plan [Member] | UNITED KINGDOM | ||||
Transition Period for Defined Contributions (Year) | 5 years | |||
Maximum [Member] | Salary Deferral Plan for New Hires [Member] | UNITED STATES | ||||
Defined Contribution Plan, Employer Non-discretionary Contribution, Percent | 6.00% | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | |||
Defined Contribution Plan, Employer Contribution, Percent of Employees' Gross Pay | 10.00% | |||
Maximum [Member] | Salary Deferral Plan [Member] | UNITED STATES | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | |||
Maximum [Member] | Huntsman UK Pension Plan [Member] | UNITED KINGDOM | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 15.00% | |||
Maximum [Member] | Huntsman UK Pension Plan, New Hires [Member] | UNITED KINGDOM | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 12.00% | |||
Pension Plan [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 3,100 | 2,800 | ||
Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate and Other [Member] | ||||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Assets Transferred into (out of) Level 3 | 11 | 0 | ||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 138 | 124 | 121 | |
Pension Plan [Member] | UNITED STATES | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 866 | $ 790 | $ 697 | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 7.52% | 7.52% | 7.52% | |
Pension Plan [Member] | UNITED STATES | Real Estate and Other [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 62 | $ 67 | ||
Pension Plan [Member] | UNITED STATES | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 62 | 67 | ||
Pension Plan [Member] | UNITED STATES | Fair Value, Inputs, Level 3 [Member] | Real Estate and Other [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 62 | 67 | ||
Pension Plan [Member] | Foreign Plan [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 2,225 | $ 1,960 | $ 1,751 | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 5.89% | 5.89% | 5.88% | |
Pension Plan [Member] | Foreign Plan [Member] | Real Estate and Other [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 628 | $ 505 | ||
Pension Plan [Member] | Foreign Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 76 | 57 | ||
Pension Plan [Member] | Foreign Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Real Estate and Other [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 76 | 57 | ||
Pension Plan [Member] | Minimum [Member] | ||||
Defined Benefit Plan, Cash Balance, Plan Annual Pay Credits, Percentage of Eligible Pay | 6.00% | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 5.68% | |||
Pension Plan [Member] | Maximum [Member] | ||||
Defined Benefit Plan, Cash Balance, Plan Annual Pay Credits, Percentage of Eligible Pay | 12.00% | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 7.53% | |||
Other Postretirement Benefits Plan [Member] | ||||
Number Of Fully Insured Medicare Part D Plans | 2 | |||
Other Postretirement Benefits Plan [Member] | UNITED STATES | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 0 | 0 | $ 0 | |
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | ||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | $ 0 | $ 0 | $ 0 |
Note 19 - Employee Benefit Pl_4
Note 19 - Employee Benefit Plans - Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | |
Pension Plan [Member] | |||||
Balance at beginning of period | $ 2,800 | ||||
Balance at end of period | 3,100 | $ 2,800 | |||
Funded status | |||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 2,800 | 2,800 | $ 3,100 | $ 2,800 | |
UNITED STATES | Pension Plan [Member] | |||||
Benefit obligation at beginning of year | 1,024 | 956 | |||
Service cost | 21 | 20 | $ 23 | ||
Interest cost | 37 | 41 | 39 | ||
Participant contributions | 0 | 0 | |||
Plan amendments | 0 | 0 | |||
Foreign currency exchange rate changes | 0 | 0 | |||
Settlements/curtailments/divestitures | (2) | 20 | |||
Actuarial (gain) loss | 87 | 65 | |||
Benefits paid | (76) | (78) | |||
Benefit obligation at end of year | 1,091 | 1,024 | 956 | ||
Balance at beginning of period | 790 | 697 | |||
Actual return on plan assets | 99 | 107 | |||
Foreign currency exchange rate changes | 0 | 0 | |||
Settlement/transfers/divestitures | (1) | 19 | |||
Company contributions | 54 | 45 | |||
Benefits paid | (76) | (78) | |||
Balance at end of period | 866 | 790 | 697 | ||
Funded status | |||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 866 | 697 | 697 | 866 | 790 |
Benefit obligation | 1,091 | 956 | 956 | 1,091 | 1,024 |
Accrued benefit cost | (225) | (234) | |||
Amounts recognized in balance sheet: | |||||
Noncurrent asset | 0 | 0 | |||
Current liability | (5) | (5) | |||
Noncurrent liability | (220) | (229) | |||
Total | (225) | (234) | |||
UNITED STATES | Other Postretirement Benefits Plan [Member] | |||||
Benefit obligation at beginning of year | 60 | 59 | |||
Service cost | 1 | 1 | 2 | ||
Interest cost | 2 | 3 | 2 | ||
Participant contributions | 2 | 2 | |||
Plan amendments | 0 | 0 | |||
Foreign currency exchange rate changes | 0 | 0 | |||
Settlements/curtailments/divestitures | 0 | 1 | |||
Actuarial (gain) loss | 9 | 0 | |||
Benefits paid | (9) | (6) | |||
Benefit obligation at end of year | 65 | 60 | 59 | ||
Balance at beginning of period | 0 | 0 | |||
Actual return on plan assets | 0 | 0 | |||
Foreign currency exchange rate changes | 0 | 0 | |||
Settlement/transfers/divestitures | 0 | 0 | |||
Company contributions | 7 | 4 | |||
Benefits paid | (9) | (6) | |||
Balance at end of period | 0 | 0 | 0 | ||
Funded status | |||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 0 | 0 | 0 | 0 | 0 |
Benefit obligation | 65 | 59 | 59 | 65 | 60 |
Accrued benefit cost | (65) | (60) | |||
Amounts recognized in balance sheet: | |||||
Noncurrent asset | 0 | 0 | |||
Current liability | (6) | (5) | |||
Noncurrent liability | (59) | (55) | |||
Total | (65) | (60) | |||
Foreign Plan [Member] | Pension Plan [Member] | |||||
Benefit obligation at beginning of year | 2,377 | 2,157 | |||
Service cost | 31 | 30 | 32 | ||
Interest cost | 25 | 37 | 37 | ||
Participant contributions | 6 | 6 | |||
Plan amendments | 0 | (9) | |||
Foreign currency exchange rate changes | 200 | 7 | |||
Settlements/curtailments/divestitures | (10) | (2) | |||
Actuarial (gain) loss | 116 | 224 | |||
Benefits paid | (74) | (73) | |||
Benefit obligation at end of year | 2,671 | 2,377 | 2,157 | ||
Balance at beginning of period | 1,960 | 1,751 | |||
Actual return on plan assets | 143 | 224 | |||
Foreign currency exchange rate changes | 161 | 11 | |||
Settlement/transfers/divestitures | (11) | (2) | |||
Company contributions | 40 | 43 | |||
Benefits paid | (74) | (73) | |||
Balance at end of period | 2,225 | 1,960 | 1,751 | ||
Funded status | |||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 2,225 | 1,751 | 1,751 | 2,225 | 1,960 |
Benefit obligation | 2,671 | 2,157 | 2,157 | 2,671 | 2,377 |
Accrued benefit cost | (446) | (417) | |||
Amounts recognized in balance sheet: | |||||
Noncurrent asset | 20 | 10 | |||
Current liability | (6) | (6) | |||
Noncurrent liability | (460) | (421) | |||
Total | (446) | (417) | |||
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | |||||
Benefit obligation at beginning of year | 0 | 0 | |||
Service cost | 0 | 0 | 0 | ||
Interest cost | 0 | 0 | 0 | ||
Participant contributions | 0 | 0 | |||
Plan amendments | 0 | 0 | |||
Foreign currency exchange rate changes | 0 | 0 | |||
Settlements/curtailments/divestitures | 0 | 0 | |||
Actuarial (gain) loss | 0 | 0 | |||
Benefits paid | 0 | 0 | |||
Benefit obligation at end of year | 0 | 0 | 0 | ||
Balance at beginning of period | 0 | 0 | |||
Actual return on plan assets | 0 | 0 | |||
Foreign currency exchange rate changes | 0 | 0 | |||
Settlement/transfers/divestitures | 0 | 0 | |||
Company contributions | 0 | 0 | |||
Benefits paid | 0 | 0 | |||
Balance at end of period | 0 | 0 | 0 | ||
Funded status | |||||
Defined Benefit Plan, Plan Assets, Amount, Ending Balance | 0 | 0 | 0 | 0 | 0 |
Benefit obligation | $ 0 | $ 0 | $ 0 | 0 | 0 |
Accrued benefit cost | 0 | 0 | |||
Amounts recognized in balance sheet: | |||||
Noncurrent asset | 0 | 0 | |||
Current liability | 0 | 0 | |||
Noncurrent liability | 0 | 0 | |||
Total | $ 0 | $ 0 |
Note 19 - Employee Benefit Pl_5
Note 19 - Employee Benefit Plans - Amounts Recognized and Amounts Expected to Be Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
UNITED STATES | Pension Plan [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | $ 363 | $ 394 |
Prior service credit | (9) | (11) |
Total | 354 | 383 |
UNITED STATES | Pension Plan [Member] | Huntsman International LLC [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 363 | 395 |
Prior service credit | (9) | (11) |
Total | 354 | 384 |
UNITED STATES | Other Postretirement Benefits Plan [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 26 | 20 |
Prior service credit | (25) | (33) |
Total | 1 | (13) |
UNITED STATES | Other Postretirement Benefits Plan [Member] | Huntsman International LLC [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 26 | 20 |
Prior service credit | (25) | (33) |
Total | 1 | (13) |
Foreign Plan [Member] | Pension Plan [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 874 | 840 |
Prior service credit | (27) | (32) |
Total | 847 | 808 |
Foreign Plan [Member] | Pension Plan [Member] | Huntsman International LLC [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 877 | 846 |
Prior service credit | (27) | (31) |
Total | 850 | 815 |
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 0 | 0 |
Prior service credit | 0 | 0 |
Total | 0 | 0 |
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | Huntsman International LLC [Member] | ||
Amounts recognized in accumulated other comprehensive loss: | ||
Net actuarial loss | 0 | 0 |
Prior service credit | 0 | 0 |
Total | $ 0 | $ 0 |
Note 19 - Employee Benefit Pl_6
Note 19 - Employee Benefit Plans - Components of Net Benefit Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Amortization of actuarial loss | $ 76 | $ 66 | $ 67 |
Huntsman International LLC [Member] | |||
Amortization of actuarial loss | 79 | 70 | 71 |
UNITED STATES | Pension Plan [Member] | |||
Service cost | 21 | 20 | 23 |
Interest cost | 37 | 41 | 39 |
Expected return on plan assets | (59) | (53) | (54) |
Amortization of prior service credit | (2) | (2) | (2) |
Amortization of actuarial loss | 28 | 23 | 31 |
Settlement loss | 0 | 0 | 2 |
Net periodic benefit cost (credit) | 25 | 29 | 39 |
UNITED STATES | Pension Plan [Member] | Huntsman International LLC [Member] | |||
Service cost | 21 | 20 | 23 |
Interest cost | 37 | 41 | 39 |
Expected return on plan assets | (59) | (53) | (54) |
Amortization of prior service credit | (2) | (2) | (2) |
Amortization of actuarial loss | 28 | 23 | 31 |
Settlement loss | 0 | 0 | 2 |
Net periodic benefit cost (credit) | 25 | 29 | 39 |
UNITED STATES | Other Postretirement Benefits Plan [Member] | |||
Service cost | 1 | 1 | 2 |
Interest cost | 2 | 3 | 2 |
Amortization of prior service credit | (5) | (5) | (5) |
Amortization of actuarial loss | 1 | 1 | 2 |
Net periodic benefit cost (credit) | (1) | 0 | 1 |
UNITED STATES | Other Postretirement Benefits Plan [Member] | Huntsman International LLC [Member] | |||
Service cost | 1 | 1 | 2 |
Interest cost | 2 | 3 | 2 |
Amortization of prior service credit | (5) | (5) | (5) |
Amortization of actuarial loss | 1 | 1 | 2 |
Net periodic benefit cost (credit) | (1) | 0 | 1 |
Foreign Plan [Member] | Pension Plan [Member] | |||
Service cost | 31 | 30 | 32 |
Interest cost | 25 | 37 | 37 |
Expected return on plan assets | (114) | (102) | (109) |
Amortization of prior service credit | (5) | (4) | (5) |
Amortization of actuarial loss | 53 | 45 | 38 |
Settlement loss | 0 | 1 | 0 |
Net periodic benefit cost (credit) | (10) | 7 | (7) |
Foreign Plan [Member] | Pension Plan [Member] | Huntsman International LLC [Member] | |||
Service cost | 31 | 30 | 32 |
Interest cost | 25 | 37 | 37 |
Expected return on plan assets | (114) | (102) | (109) |
Amortization of prior service credit | (5) | (4) | (5) |
Amortization of actuarial loss | 57 | 48 | 41 |
Settlement loss | 0 | 1 | 0 |
Net periodic benefit cost (credit) | (6) | 10 | (4) |
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | |||
Service cost | 0 | 0 | 0 |
Interest cost | 0 | 0 | 0 |
Amortization of prior service credit | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 0 | 0 |
Net periodic benefit cost (credit) | 0 | 0 | 0 |
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | Huntsman International LLC [Member] | |||
Service cost | 0 | 0 | 0 |
Interest cost | 0 | 0 | 0 |
Amortization of prior service credit | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 0 | 0 |
Net periodic benefit cost (credit) | $ 0 | $ 0 | $ 0 |
Note 19 - Employee Benefit Pl_7
Note 19 - Employee Benefit Plans - Periodic Benefit Cost and Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Pension Plan [Member] | UNITED STATES | |||
Current year actuarial loss | $ 40 | $ 19 | $ 18 |
Amortization of actuarial loss | (28) | (26) | (34) |
Current year prior service (credits) cost | 0 | 0 | 0 |
Amortization of prior service credit | 2 | 2 | 2 |
Settlements | (42) | 0 | (2) |
Total recognized in other comprehensive income (loss) | (28) | (5) | (16) |
Amounts related to discontinued operations | 17 | 9 | (4) |
Total recognized in other comprehensive income (loss) in continuing operations | (11) | 4 | (20) |
Net periodic benefit cost | 25 | 29 | 39 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 14 | 33 | 19 |
Pension Plan [Member] | UNITED STATES | Huntsman International LLC [Member] | |||
Current year actuarial loss | 40 | 19 | 18 |
Amortization of actuarial loss | (28) | (26) | (34) |
Current year prior service (credits) cost | 0 | 0 | 0 |
Amortization of prior service credit | 2 | 2 | 2 |
Settlements | (42) | 0 | (2) |
Total recognized in other comprehensive income (loss) | (28) | (5) | (16) |
Amounts related to discontinued operations | 17 | 9 | (4) |
Total recognized in other comprehensive income (loss) in continuing operations | (11) | 4 | (20) |
Net periodic benefit cost | 25 | 29 | 39 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 14 | 33 | 19 |
Curtailment (gain) loss | 0 | 0 | 0 |
Pension Plan [Member] | Foreign Plan [Member] | |||
Current year actuarial loss | 87 | 101 | 117 |
Amortization of actuarial loss | (53) | (45) | (38) |
Current year prior service (credits) cost | 0 | (10) | 4 |
Amortization of prior service credit | 5 | 4 | 5 |
Settlements | 0 | 1 | 0 |
Total recognized in other comprehensive income (loss) | 39 | 51 | 88 |
Amounts related to discontinued operations | 0 | 0 | 0 |
Total recognized in other comprehensive income (loss) in continuing operations | 39 | 51 | 88 |
Net periodic benefit cost | (10) | 7 | (7) |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 29 | 58 | 81 |
Pension Plan [Member] | Foreign Plan [Member] | Huntsman International LLC [Member] | |||
Current year actuarial loss | 87 | 101 | 117 |
Amortization of actuarial loss | (57) | (48) | (41) |
Current year prior service (credits) cost | 0 | (10) | 4 |
Amortization of prior service credit | 5 | 4 | 5 |
Settlements | 0 | 1 | 0 |
Total recognized in other comprehensive income (loss) | 35 | 48 | 85 |
Amounts related to discontinued operations | 0 | 0 | 0 |
Total recognized in other comprehensive income (loss) in continuing operations | 35 | 48 | 85 |
Net periodic benefit cost | (6) | 10 | (4) |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 29 | 58 | 81 |
Curtailment (gain) loss | 0 | 0 | 0 |
Other Postretirement Benefits Plan [Member] | UNITED STATES | |||
Current year actuarial loss | 9 | 0 | (10) |
Amortization of actuarial loss | (1) | (1) | (2) |
Current year prior service (credits) cost | 0 | 0 | 0 |
Amortization of prior service credit | 5 | 5 | 6 |
Settlements | (1) | 0 | 0 |
Total recognized in other comprehensive income (loss) | 14 | 4 | (6) |
Amounts related to discontinued operations | 0 | (6) | 0 |
Total recognized in other comprehensive income (loss) in continuing operations | 14 | (2) | (6) |
Net periodic benefit cost | (1) | 0 | 1 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 13 | (2) | (5) |
Curtailment (gain) loss | 2 | 0 | 0 |
Other Postretirement Benefits Plan [Member] | UNITED STATES | Huntsman International LLC [Member] | |||
Current year actuarial loss | 9 | 0 | (10) |
Amortization of actuarial loss | (1) | (1) | (2) |
Current year prior service (credits) cost | 0 | 0 | 0 |
Amortization of prior service credit | 5 | 5 | 6 |
Settlements | (1) | 0 | 0 |
Total recognized in other comprehensive income (loss) | 14 | 4 | (6) |
Amounts related to discontinued operations | 0 | (6) | 0 |
Total recognized in other comprehensive income (loss) in continuing operations | 14 | (2) | (6) |
Net periodic benefit cost | (1) | 0 | 1 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 13 | (2) | (5) |
Curtailment (gain) loss | 2 | 0 | 0 |
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | |||
Current year actuarial loss | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 0 | 0 |
Current year prior service (credits) cost | 0 | 0 | 0 |
Amortization of prior service credit | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Total recognized in other comprehensive income (loss) | 0 | 0 | 0 |
Amounts related to discontinued operations | 0 | 0 | 0 |
Total recognized in other comprehensive income (loss) in continuing operations | 0 | 0 | 0 |
Net periodic benefit cost | 0 | 0 | 0 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 0 | 0 | 0 |
Curtailment (gain) loss | 0 | 0 | 0 |
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | Huntsman International LLC [Member] | |||
Current year actuarial loss | 0 | 0 | 0 |
Amortization of actuarial loss | 0 | 0 | 0 |
Current year prior service (credits) cost | 0 | 0 | 0 |
Amortization of prior service credit | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Total recognized in other comprehensive income (loss) | 0 | 0 | 0 |
Amounts related to discontinued operations | 0 | 0 | 0 |
Total recognized in other comprehensive income (loss) in continuing operations | 0 | 0 | 0 |
Net periodic benefit cost | 0 | 0 | 0 |
Total recognized in net periodic benefit cost and other comprehensive income (loss) | 0 | 0 | 0 |
Curtailment (gain) loss | $ 0 | $ 0 | $ 0 |
Note 19 - Employee Benefit Pl_8
Note 19 - Employee Benefit Plans - Weighted-average Assumptions Used to Determine the Projected Benefit Obligation (Details) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
UNITED STATES | Pension Plan [Member] | |||
Projected benefit obligation | |||
Discount rate | 2.82% | 3.59% | 4.39% |
Rate of compensation increase | 4.09% | 4.09% | 4.10% |
Interest credit rate | 5.15% | 5.15% | 5.15% |
Net periodic pension cost | |||
Discount rate | 3.59% | 4.39% | 3.74% |
Rate of compensation increase | 4.09% | 4.07% | 4.10% |
Expected return on plan assets | 7.52% | 7.52% | 7.52% |
Interest credit rate | 5.15% | 5.15% | 5.15% |
UNITED STATES | Other Postretirement Benefits Plan [Member] | |||
Projected benefit obligation | |||
Discount rate | 2.63% | 3.46% | 4.26% |
Net periodic pension cost | |||
Discount rate | 3.46% | 4.26% | 3.58% |
Foreign Plan [Member] | Pension Plan [Member] | |||
Projected benefit obligation | |||
Discount rate | 0.69% | 1.07% | 1.75% |
Rate of compensation increase | 2.59% | 2.65% | 2.95% |
Interest credit rate | 0.33% | 0.49% | 1.04% |
Net periodic pension cost | |||
Discount rate | 1.07% | 1.75% | 1.65% |
Rate of compensation increase | 2.65% | 2.64% | 3.38% |
Expected return on plan assets | 5.89% | 5.89% | 5.88% |
Interest credit rate | 0.49% | 1.04% | 0.88% |
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | |||
Projected benefit obligation | |||
Discount rate | 2.30% | 2.90% | 3.50% |
Net periodic pension cost | |||
Discount rate | 2.90% | 3.50% | 3.30% |
Note 19 - Employee Benefit Pl_9
Note 19 - Employee Benefit Plans - Projected Benefit Obligations in Excess of Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
UNITED STATES | ||
Projected benefit obligation in excess of plan assets | ||
Projected benefit obligation | $ 1,091 | $ 1,024 |
Fair value of plan assets | 866 | 790 |
Foreign Plan [Member] | ||
Projected benefit obligation in excess of plan assets | ||
Projected benefit obligation | 2,017 | 2,203 |
Fair value of plan assets | $ 1,551 | $ 1,777 |
Note 19 - Employee Benefit P_10
Note 19 - Employee Benefit Plans - Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for Defined Benefit Plans (Details) - Pension Plan [Member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
UNITED STATES | ||
Accumulated benefit obligation in excess of plan assets | ||
Projected benefit obligation | $ 1,091 | $ 1,024 |
Accumulated benefit obligation | 1,073 | 1,019 |
Fair value of plan assets | 866 | 790 |
Foreign Plan [Member] | ||
Accumulated benefit obligation in excess of plan assets | ||
Projected benefit obligation | 1,203 | 1,066 |
Accumulated benefit obligation | 1,116 | 991 |
Fair value of plan assets | $ 746 | $ 664 |
Note 19 - Employee Benefit P_11
Note 19 - Employee Benefit Plans - Expected Future Contributions and Benefit Payments Related to Continuing Operations (Details) $ in Millions | Dec. 31, 2020USD ($) |
UNITED STATES | Pension Plan [Member] | |
2021 expected employer contributions | |
To plan trusts | $ 14 |
Expected benefit payments | |
2021 | 59 |
2022 | 65 |
2023 | 70 |
2024 | 66 |
2025 | 100 |
2026 - 2030 | 316 |
UNITED STATES | Other Postretirement Benefits Plan [Member] | |
2021 expected employer contributions | |
To plan trusts | 6 |
Expected benefit payments | |
2021 | 6 |
2022 | 6 |
2023 | 5 |
2024 | 5 |
2025 | 5 |
2026 - 2030 | 24 |
Foreign Plan [Member] | Pension Plan [Member] | |
2021 expected employer contributions | |
To plan trusts | 40 |
Expected benefit payments | |
2021 | 86 |
2022 | 87 |
2023 | 92 |
2024 | 90 |
2025 | 92 |
2026 - 2030 | 493 |
Foreign Plan [Member] | Other Postretirement Benefits Plan [Member] | |
2021 expected employer contributions | |
To plan trusts | 0 |
Expected benefit payments | |
2021 | 0 |
2022 | 0 |
2023 | 0 |
2024 | 0 |
2025 | 0 |
2026 - 2030 | $ 0 |
Note 19 - Employee Benefit P_12
Note 19 - Employee Benefit Plans - Fair Value of Recurring Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Fair value of plan assets | $ 3,100 | $ 2,800 | |
Real Estate and Other [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 138 | 124 | $ 121 |
UNITED STATES | |||
Fair value of plan assets | 866 | 790 | 697 |
UNITED STATES | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 557 | 503 | |
UNITED STATES | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 247 | 220 | |
UNITED STATES | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 62 | 67 | |
UNITED STATES | Defined Benefit Plan, Equity Securities [Member] | |||
Fair value of plan assets | 481 | 422 | |
UNITED STATES | Defined Benefit Plan, Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 315 | 283 | |
UNITED STATES | Defined Benefit Plan, Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 166 | 139 | |
UNITED STATES | Defined Benefit Plan, Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Fixed Income Funds [Member] | |||
Fair value of plan assets | 323 | 301 | |
UNITED STATES | Fixed Income Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 242 | 220 | |
UNITED STATES | Fixed Income Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 81 | 81 | |
UNITED STATES | Fixed Income Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Real Estate and Other [Member] | |||
Fair value of plan assets | 62 | 67 | |
UNITED STATES | Real Estate and Other [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Real Estate and Other [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Real Estate and Other [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 62 | 67 | |
UNITED STATES | Defined Benefit Plan, Cash [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Defined Benefit Plan, Cash [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Defined Benefit Plan, Cash [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 0 | 0 | |
UNITED STATES | Defined Benefit Plan, Cash [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | |||
Fair value of plan assets | 2,225 | 1,960 | $ 1,751 |
Foreign Plan [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 991 | 959 | |
Foreign Plan [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 1,158 | 944 | |
Foreign Plan [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 76 | 57 | |
Foreign Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | |||
Fair value of plan assets | 564 | 535 | |
Foreign Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 229 | 228 | |
Foreign Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 335 | 307 | |
Foreign Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Fixed Income Funds [Member] | |||
Fair value of plan assets | 971 | 847 | |
Foreign Plan [Member] | Fixed Income Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 610 | 560 | |
Foreign Plan [Member] | Fixed Income Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 361 | 287 | |
Foreign Plan [Member] | Fixed Income Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 0 | 0 | |
Foreign Plan [Member] | Real Estate and Other [Member] | |||
Fair value of plan assets | 628 | 505 | |
Foreign Plan [Member] | Real Estate and Other [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 93 | 99 | |
Foreign Plan [Member] | Real Estate and Other [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 459 | 349 | |
Foreign Plan [Member] | Real Estate and Other [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | 76 | 57 | |
Foreign Plan [Member] | Defined Benefit Plan, Cash [Member] | |||
Fair value of plan assets | 62 | 73 | |
Foreign Plan [Member] | Defined Benefit Plan, Cash [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair value of plan assets | 59 | 72 | |
Foreign Plan [Member] | Defined Benefit Plan, Cash [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair value of plan assets | 3 | 1 | |
Foreign Plan [Member] | Defined Benefit Plan, Cash [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair value of plan assets | $ 0 | $ 0 |
Note 19 - Employee Benefit P_13
Note 19 - Employee Benefit Plans - Reconciliation of Balances at Fair Value Using Unobservable Inputs (Details) - Pension Plan [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance at beginning of period | $ 2,800 | |
Balance at end of period | 3,100 | $ 2,800 |
Real Estate and Other [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Balance at beginning of period | 124 | 121 |
Return on pension plan assets | 5 | 4 |
Purchases, sales and settlements | (2) | (1) |
Transfers into (out of) Level 3 | 11 | 0 |
Balance at end of period | $ 138 | $ 124 |
Note 19 - Employee Benefit P_14
Note 19 - Employee Benefit Plans - Asset Allocation (Details) - Pension Plan [Member] | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
UNITED STATES | |||
Allocation | 100.00% | 100.00% | |
UNITED STATES | Defined Benefit Plan, Equity Securities [Member] | |||
Allocation | 56.00% | 54.00% | |
UNITED STATES | Fixed Income Funds [Member] | |||
Allocation | 37.00% | 38.00% | |
UNITED STATES | Real Estate and Other [Member] | |||
Allocation | 7.00% | 8.00% | |
UNITED STATES | Defined Benefit Plan, Cash [Member] | |||
Allocation | 0.00% | 0.00% | |
Foreign Plan [Member] | |||
Allocation | 100.00% | 100.00% | |
Foreign Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | |||
Allocation | 25.00% | 27.00% | |
Foreign Plan [Member] | Fixed Income Funds [Member] | |||
Allocation | 44.00% | 43.00% | |
Foreign Plan [Member] | Real Estate and Other [Member] | |||
Allocation | 28.00% | 26.00% | |
Foreign Plan [Member] | Defined Benefit Plan, Cash [Member] | |||
Allocation | 3.00% | 4.00% | |
Forecast [Member] | UNITED STATES | |||
Target allocation | 100.00% | ||
Forecast [Member] | UNITED STATES | Defined Benefit Plan, Equity Securities [Member] | |||
Target allocation | 54.00% | ||
Forecast [Member] | UNITED STATES | Fixed Income Funds [Member] | |||
Target allocation | 39.00% | ||
Forecast [Member] | UNITED STATES | Real Estate and Other [Member] | |||
Target allocation | 4.00% | ||
Forecast [Member] | UNITED STATES | Defined Benefit Plan, Cash [Member] | |||
Target allocation | 3.00% | ||
Forecast [Member] | Foreign Plan [Member] | |||
Target allocation | 100.00% | ||
Forecast [Member] | Foreign Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | |||
Target allocation | 26.00% | ||
Forecast [Member] | Foreign Plan [Member] | Fixed Income Funds [Member] | |||
Target allocation | 48.00% | ||
Forecast [Member] | Foreign Plan [Member] | Real Estate and Other [Member] | |||
Target allocation | 14.00% | ||
Forecast [Member] | Foreign Plan [Member] | Defined Benefit Plan, Cash [Member] | |||
Target allocation | 12.00% |
Note 20 - Income Taxes (Details
Note 20 - Income Taxes (Details Textual) - USD ($) $ in Thousands, shares in Millions | Dec. 23, 2020 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | $ 16,000 | $ 9,000 | $ 27,000 | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 35.00% | |||
Income Tax Reconciliation, Unrealized Currency Exchange Gains and Losses | $ 0 | $ (5,000) | $ (10,000) | ||||
Deferred Tax Assets, Basis Difference in Investment | 35,000 | 199,000 | |||||
Income Tax Expense (Benefit) from GILTI Expense Allocations | 7,000 | 7,000 | 16,000 | ||||
Tax Cuts and Jobs Act, Income Tax Expense (Benefit), Total | 32,000 | ||||||
Effective Income Tax Rate Reconciliation, Sale of Foreign Business, Amount | (35,000) | 0 | |||||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 258,000 | 281,000 | |||||
Deferred Tax Assets, Capital Loss Carryforwards | 30,000 | 11,000 | |||||
Release of Valuation Allowances in Various Jurisdictions | 0 | 0 | 132,000 | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 16,000 | 15,000 | |||||
Unrecognized Tax Benefits, Period Increase (Decrease), Total | $ 1,000 | (10,000) | $ 5,000 | ||||
Unrecognized Tax Benefits That Would Impact Income Tax Expense (Benefit) Period (Month) | 12 months | ||||||
Income Tax, GILTI Blended Tax Rate | 13.125% | ||||||
Minimum [Member] | |||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | $ 0 | ||||||
Maximum [Member] | |||||||
Decrease in Unrecognized Tax Benefits is Reasonably Possible | 2,000 | ||||||
Foreign Tax Authority [Member] | |||||||
Operating Loss Carryforwards, Total | 1,037,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 240,000 | ||||||
Operating Loss Carryforwards, Subject to Expiration | 119,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 20,000 | ||||||
Operating Loss Carryforwards, Subject to Expiration and Valuation Allowance | 60,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration and Valuation Allowance | 9,000 | ||||||
Foreign Tax Authority [Member] | Tax Year 2021 Expiration [Member] | |||||||
Operating Loss Carryforwards, Subject to Expiration | 57,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 8,000 | ||||||
Foreign Tax Authority [Member] | Tax Year 2020 Expiration [Member] | |||||||
Operating Loss Carryforwards, Subject to Expiration and Valuation Allowance | 107,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration and Valuation Allowance | 17,000 | ||||||
Foreign Tax Authority [Member] | Tax Year 2019 Expiration [Member] | |||||||
Operating Loss Carryforwards, Subject to Expiration and Valuation Allowance | 111,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration and Valuation Allowance | 16,000 | ||||||
Foreign Tax Authority [Member] | Swiss Federal Tax Administration (FTA) [Member] | |||||||
Noncash Tax Expense, Change in Tax Rate | 32,000 | ||||||
Release of Valuation Allowances in Various Jurisdictions | $ 80,000 | ||||||
Period Carryover of Net Operating Losses (Year) | 7 years | ||||||
Foreign Tax Authority [Member] | Luxembourg Inland Revenue [Member] | |||||||
Operating Loss Carryforwards, Total | 472,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 118,000 | ||||||
Operating Loss Carryforwards, Valuation Allowance, Total | 63,000 | ||||||
Release of Valuation Allowances in Various Jurisdictions | $ 24,000 | ||||||
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | |||||||
Release of Valuation Allowances in Various Jurisdictions | $ 15,000 | ||||||
Domestic Tax Authority [Member] | |||||||
Operating Loss Carryforwards, Total | 71,000 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 15,000 | ||||||
Deferred Tax Assets, Capital Loss Carryforwards | 30,000 | ||||||
Venator Materials PLC [Member] | |||||||
Deferred Tax Assets, Basis Difference in Investment | 199,000 | 199,000 | |||||
Unrealizable Built In Capital Loss, Valuation Allowance | 46,000 | 46,000 | |||||
Income Tax Benefit Realized, Portion of Deferred Tax Asset Basis Difference in Investment | 153,000 | 153,000 | |||||
Deferred Tax Assets, Capital Loss Carryforwards | 18,000 | ||||||
Venator Materials PLC [Member] | AUSTRALIA | |||||||
Operating Loss Carryforwards, Valuation Allowance, Total | $ 11,000 | ||||||
Venator Materials PLC [Member] | SK Capital Partners, LP [Member] | |||||||
Equity Method Investment Using Fair Value Option, Number of Shares Sold (in shares) | 42.4 | 42.4 | |||||
Huntsman International LLC [Member] | |||||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | $ 16,000 | $ 9,000 | $ 27,000 | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | ||||
Income Tax Reconciliation, Unrealized Currency Exchange Gains and Losses | $ 0 | $ (5,000) | $ (10,000) | ||||
Deferred Tax Assets, Basis Difference in Investment | 35,000 | 199,000 | |||||
Effective Income Tax Rate Reconciliation, Sale of Foreign Business, Amount | (35,000) | 0 | 0 | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 258,000 | 281,000 | |||||
Deferred Tax Assets, Capital Loss Carryforwards | 30,000 | 11,000 | |||||
Release of Valuation Allowances in Various Jurisdictions | $ 0 | $ 0 | $ 132,000 |
Note 20 - Income Taxes - Compon
Note 20 - Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
U.S. | |||
Current | $ (216) | $ (17) | $ 57 |
Deferred | 167 | (181) | (30) |
Non-U.S. | |||
Current | 90 | 71 | 153 |
Deferred | 5 | 89 | (135) |
Total income tax expense (benefit) | 46 | (38) | 45 |
Huntsman International LLC [Member] | |||
U.S. | |||
Current | (215) | (21) | 57 |
Deferred | 166 | (179) | (34) |
Non-U.S. | |||
Current | 90 | 70 | 153 |
Deferred | 5 | 89 | (135) |
Total income tax expense (benefit) | $ 46 | $ (41) | $ 41 |
Note 20 - Income Taxes - Income
Note 20 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income from continuing operations before income taxes | $ 337,000 | $ 391,000 | $ 734,000 |
Expected tax expense at U.S. statutory rate of 21% | 71,000 | 82,000 | 154,000 |
Change resulting from: | |||
State tax expense net of federal benefit | (4,000) | (3,000) | (1,000) |
Non-U.S. tax rate differentials | 16,000 | 9,000 | 27,000 |
Other non-U.S. tax effects, including nondeductible expenses and other withholding taxes | 5,000 | 13,000 | 8,000 |
U.S. Tax Reform Act impact | 0 | (1,000) | 32,000 |
Currency exchange gains/losses(net) | 0 | (5,000) | (10,000) |
Venator investment basis difference and fair market value adjustments | 0 | (199,000) | 18,000 |
Tax losses related to Venator investment | 0 | (18,000) | 0 |
Non-U.S. income subject to U.S. tax not offset by U.S. foreign tax credits | 7,000 | 7,000 | 16,000 |
Tax authority audits and dispute resolutions | 1,000 | (6,000) | 5,000 |
Share-based compensation excess tax benefits | (1,000) | (4,000) | (14,000) |
Change in valuation allowance | (14,000) | 56,000 | (185,000) |
Deferred tax effects of non-U.S. tax rate changes | (2,000) | 36,000 | (2,000) |
Impact of equity method investments | (10,000) | (13,000) | (14,000) |
Sale of the India-based DIY business | (35,000) | 0 | |
Non-U.S. withholding tax on repatriated earnings, net of U.S. foreign tax credits | 20,000 | 6,000 | 11,000 |
Other U.S. tax effects, including nondeductible expenses and other credits | (8,000) | 2,000 | 0 |
Total income tax expense (benefit) | 46,000 | (38,000) | 45,000 |
Income from continuing operations before income taxes | 337,000 | 391,000 | 734,000 |
Expected tax expense at U.S. statutory rate of 21% | 71,000 | 82,000 | 154,000 |
Huntsman International LLC [Member] | |||
Income from continuing operations before income taxes | 338,000 | 377,000 | 716,000 |
Expected tax expense at U.S. statutory rate of 21% | 71,000 | 79,000 | 150,000 |
Change resulting from: | |||
State tax expense net of federal benefit | (4,000) | (3,000) | (1,000) |
Non-U.S. tax rate differentials | 16,000 | 9,000 | 27,000 |
Other non-U.S. tax effects, including nondeductible expenses and other withholding taxes | 5,000 | 13,000 | 8,000 |
U.S. Tax Reform Act impact | 0 | (1,000) | 32,000 |
Currency exchange gains/losses(net) | 0 | (5,000) | (10,000) |
Venator investment basis difference and fair market value adjustments | 0 | (199,000) | 18,000 |
Tax losses related to Venator investment | 0 | (18,000) | 0 |
Non-U.S. income subject to U.S. tax not offset by U.S. foreign tax credits | 7,000 | 7,000 | 16,000 |
Tax authority audits and dispute resolutions | 1,000 | (6,000) | 5,000 |
Share-based compensation excess tax benefits | (1,000) | (4,000) | (14,000) |
Change in valuation allowance | (14,000) | 56,000 | (185,000) |
Deferred tax effects of non-U.S. tax rate changes | (2,000) | 36,000 | (2,000) |
Impact of equity method investments | (10,000) | (13,000) | (14,000) |
Sale of the India-based DIY business | (35,000) | 0 | 0 |
Non-U.S. withholding tax on repatriated earnings, net of U.S. foreign tax credits | 20,000 | 6,000 | 11,000 |
Other U.S. tax effects, including nondeductible expenses and other credits | (8,000) | 2,000 | 0 |
Total income tax expense (benefit) | 46,000 | (41,000) | 41,000 |
Income from continuing operations before income taxes | 338,000 | 377,000 | 716,000 |
Expected tax expense at U.S. statutory rate of 21% | $ 71,000 | $ 79,000 | $ 150,000 |
Note 20 - Income Taxes - Inco_2
Note 20 - Income Taxes - Income Tax Reconciliation (Details) (Parentheticals) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
U.S. income tax statutory rate | 21.00% | 21.00% | 21.00% | 35.00% |
Huntsman International LLC [Member] | ||||
U.S. income tax statutory rate | 21.00% | 21.00% | 21.00% |
Note 20 - Income Taxes - Comp_2
Note 20 - Income Taxes - Components of Income (Loss) From Continuing Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
U.S. | $ (231) | $ (106) | $ (38) |
Non-U.S. | 568 | 497 | 772 |
Income from continuing operations before income taxes | 337 | 391 | 734 |
Huntsman International LLC [Member] | |||
U.S. | (230) | (120) | (56) |
Non-U.S. | 568 | 497 | 772 |
Income from continuing operations before income taxes | $ 338 | $ 377 | $ 716 |
Note 20 - Income Taxes - Deferr
Note 20 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred income tax assets: | ||
Deferred Tax Assets, Operating Loss Carryforwards, Total | $ 258 | $ 281 |
Pension and other employee compensation | 184 | 172 |
Property, plant and equipment | 15 | 15 |
Intangible assets | 52 | 56 |
Deferred Tax Assets, Basis Difference in Investment | 35 | 199 |
Operating leases | 111 | 98 |
Deferred Tax Assets, Capital Loss Carryforwards | 30 | 11 |
Deferred interest | 28 | 19 |
Other, net | 44 | 42 |
Total | 757 | 893 |
Deferred income tax liabilities: | ||
Property, plant and equipment | (249) | (218) |
Pension and other employee compensation | (4) | (1) |
Intangible assets | (72) | (27) |
Unrealized currency gains | (14) | (43) |
Operating leases | (114) | (102) |
Other, net | (22) | (8) |
Total | (475) | (399) |
Net deferred tax asset before valuation allowance | 282 | 494 |
Valuation allowanceānet operating losses and other | (206) | (231) |
Net deferred tax asset | 76 | 263 |
Non-current deferred tax asset | 288 | 292 |
Non-current deferred tax liability | (212) | (29) |
Net deferred tax asset | 76 | 263 |
Huntsman International LLC [Member] | ||
Deferred income tax assets: | ||
Deferred Tax Assets, Operating Loss Carryforwards, Total | 258 | 281 |
Pension and other employee compensation | 184 | 172 |
Property, plant and equipment | 15 | 15 |
Intangible assets | 52 | 56 |
Deferred Tax Assets, Basis Difference in Investment | 35 | 199 |
Operating leases | 111 | 98 |
Deferred Tax Assets, Capital Loss Carryforwards | 30 | 11 |
Deferred interest | 28 | 19 |
Other, net | 44 | 42 |
Total | 757 | 893 |
Deferred income tax liabilities: | ||
Property, plant and equipment | (249) | (218) |
Pension and other employee compensation | (4) | (1) |
Intangible assets | (72) | (27) |
Unrealized currency gains | (14) | (43) |
Operating leases | (114) | (102) |
Other, net | (24) | (8) |
Total | (477) | (399) |
Net deferred tax asset before valuation allowance | 280 | 494 |
Valuation allowanceānet operating losses and other | (206) | (231) |
Net deferred tax asset | 74 | 263 |
Non-current deferred tax asset | 288 | 292 |
Non-current deferred tax liability | (214) | (29) |
Net deferred tax asset | $ 74 | $ 263 |
Note 20 - Income Taxes - Summar
Note 20 - Income Taxes - Summary of Changes in the Deferred Tax Assets Valuation Allowance (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Valuation allowance, beginning | $ 231 | $ 215 | $ 412 |
Valuation allowance, ending | 206 | 231 | 215 |
Net decrease (increase) | 25 | (16) | 197 |
Foreign currency movements | 6 | 0 | 3 |
Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances | (17) | (40) | (15) |
Change in valuation allowance per rate reconciliation | 14 | (56) | 185 |
Components of change in valuation allowance affecting tax expense: | |||
Pre-tax income and losses in jurisdictions with valuation allowances resulting in no tax expense or benefit | 14 | (133) | 53 |
Releases of valuation allowances in various jurisdictions | 0 | 0 | 132 |
Establishments of valuation allowances in various jurisdictions | 0 | 77 | 0 |
Change in valuation allowance per rate reconciliation | 14 | (56) | 185 |
Valuation allowance, beginning | 231 | 215 | 412 |
Valuation allowance, ending | 206 | 231 | 215 |
Net decrease (increase) | 25 | (16) | 197 |
Foreign currency movements | 6 | 0 | 3 |
Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances | (17) | (40) | (15) |
Change in valuation allowance per rate reconciliation | 14 | (56) | 185 |
Huntsman International LLC [Member] | |||
Valuation allowance, beginning | 231 | 215 | 412 |
Valuation allowance, ending | 206 | 231 | 215 |
Net decrease (increase) | 25 | (16) | 197 |
Foreign currency movements | 6 | 0 | 3 |
Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances | (17) | (40) | (15) |
Change in valuation allowance per rate reconciliation | 14 | (56) | 185 |
Components of change in valuation allowance affecting tax expense: | |||
Pre-tax income and losses in jurisdictions with valuation allowances resulting in no tax expense or benefit | 14 | (133) | 53 |
Releases of valuation allowances in various jurisdictions | 0 | 0 | 132 |
Establishments of valuation allowances in various jurisdictions | 0 | 77 | 0 |
Change in valuation allowance per rate reconciliation | 14 | (56) | 185 |
Valuation allowance, beginning | 231 | 215 | 412 |
Valuation allowance, ending | 206 | 231 | 215 |
Net decrease (increase) | 25 | (16) | 197 |
Foreign currency movements | 6 | 0 | 3 |
Decrease to deferred tax assets with no impact on operating tax expense, including an offsetting (decrease) increase to valuation allowances | (17) | (40) | (15) |
Change in valuation allowance per rate reconciliation | $ 14 | $ (56) | $ 185 |
Note 20 - Income Taxes - Summ_2
Note 20 - Income Taxes - Summary of Changes in the Deferred Tax Assets Valuation Allowance (Details) (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Expense (benefit) as a result of pre-tax income and losses in jurisdictions with valuation allowances | $ 0 | $ 0 | $ 0 |
Huntsman International LLC [Member] | |||
Expense (benefit) as a result of pre-tax income and losses in jurisdictions with valuation allowances | $ 0 | $ 0 | $ 0 |
Note 20 - Income Taxes - Reconc
Note 20 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Unrecognized tax benefits as of January 1 | $ 28 | $ 26 |
Gross increases and decreasesātax positions taken during a prior period | 2 | 4 |
Gross increases and decreasesātax positions taken during the current period | 1 | 1 |
Reductions resulting from the lapse of statutes of limitation | (2) | (4) |
Foreign currency movements | (1) | 1 |
Unrecognized tax benefits as of December 31 | $ 16 | $ 28 |
Note 20 - Income Taxes - Intere
Note 20 - Income Taxes - Interest and Penalties Accrued Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest expense included in tax expense | $ 1 | $ 2 | $ 0 |
Penalties expense included in tax expense | 0 | 2 | $ 0 |
Accrued liability for interest | 4 | 5 | |
Accrued liability for penalties | $ 0 | $ 2 |
Note 20 - Income Taxes - Tax Ye
Note 20 - Income Taxes - Tax Years Open to Examination (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Foreign Tax Authority [Member] | Administration of the Treasury, Belgium [Member] | |
Income tax years subject to examination | 2018 2019 2020 |
Foreign Tax Authority [Member] | State Administration of Taxation, China [Member] | |
Income tax years subject to examination | 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | |
Income tax years subject to examination | 2018 2019 2020 |
Foreign Tax Authority [Member] | Federal Ministry of Finance, Germany [Member] | |
Income tax years subject to examination | 2016 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | Inland Revenue, Hong Kong [Member] | |
Income tax years subject to examination | 2014 2015 2016 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | Ministry of Finance, India [Member] | |
Income tax years subject to examination | 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 |
Foreign Tax Authority [Member] | Ministry of Economic Affairs and Finance, Italy [Member] | |
Income tax years subject to examination | 2015 2016 2017 2018 2019 |
Foreign Tax Authority [Member] | National Tax Agency, Japan [Member] | |
Income tax years subject to examination | 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | Mexican Tax Authority [Member] | |
Income tax years subject to examination | 2014 2015 2016 2017 2018 2019 |
Foreign Tax Authority [Member] | Tax Authority, Spain [Member] | |
Income tax years subject to examination | 2013 2014 2015 2016 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | Swiss Federal Tax Administration (FTA) [Member] | |
Income tax years subject to examination | 2014 2015 2016 2017 2018 2019 2020 |
Foreign Tax Authority [Member] | Tax and Customs Administration, Netherlands [Member] | |
Income tax years subject to examination | 2016 2017 2018 2019 |
Foreign Tax Authority [Member] | Revenue Department of the Ministry of Finance, Thailand [Member] | |
Income tax years subject to examination | 2013 2014 2015 2016 2017 2018 2019 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | |
Income tax years subject to examination | 2017 2018 2019 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |
Income tax years subject to examination | 2017 2018 2019 |
Note 21 - Commitments and Con_3
Note 21 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Unrecorded Unconditional Purchase Obligation, Minimum Contract Period (Year) | 1 year | ||
Unrecorded Unconditional Purchase Obligation, Purchases | $ 2,000 | $ 1,000 | $ 0 |
Note 21 - Commitments and Con_4
Note 21 - Commitments and Contingencies - Purchase Commitments and Operating Leases (Details) $ in Millions | Dec. 31, 2020USD ($) |
2021 | $ 1,413 |
2022 | 982 |
2023 | 818 |
2024 | 696 |
2025 | 648 |
Thereafter | 1,924 |
Unrecorded Unconditional Purchase Obligation, Total | $ 6,481 |
Note 22 - Environmental, Heal_2
Note 22 - Environmental, Health and Safety Matters (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Environmental Costs Recognized, Capitalized in Period | $ 28 | $ 42 | $ 32 |
Accrual for Environmental Loss Contingencies, Ending Balance | 4 | 4 | |
Accrued Environmental Loss Contingencies, Current | 1 | 1 | |
Accrued Environmental Loss Contingencies, Noncurrent | $ 3 | $ 3 | |
Maximum Period for Payment of Remediation Liabilities (Year) | 30 years | ||
Site Contingency, Number of Former Facility or Third Party Sites with Claims Against Entity for Cleanup Liabilities | 6 |
Note 23 - Huntsman Corporatio_3
Note 23 - Huntsman Corporation Stockholders' Equity (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | May 03, 2018 | Feb. 07, 2018 | |
Treasury Stock, Shares, Acquired (in shares) | 5,364,519 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 96 | $ 96 | $ 208 | $ 277 | ||
Share Repurchase Program 2018 [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 950 | $ 950 | ||||
Share Repurchase Program 2015 [Member] | ||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 50 |
Note 23 - Huntsman Corporatio_4
Note 23 - Huntsman Corporation Stockholders' Equity - Dividends on Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Per share payment amount (in dollars per share) | $ 0.1625 | $ 0.1625 | $ 0.1625 | $ 0.1625 | $ 0.1625 | $ 0.1625 | $ 0.1625 | $ 0.1625 | |||
Approximate amount paid | $ 35 | $ 36 | $ 36 | $ 37 | $ 35 | $ 38 | $ 38 | $ 39 | $ 144 | $ 150 | $ 156 |
Note 24 - Stock-based Compens_3
Note 24 - Stock-based Compensation Plan (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | May 05, 2016 | |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 4 | $ 8 | $ 18 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 8.25 | $ 9.27 | $ 15.20 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 9 | $ 4 | $ 78 | |
Proceeds from Stock Options Exercised | 3 | 2 | 17 | |
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 7 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | |||
Share-based Payment Arrangement, Exercise of Option, Tax Benefit | $ 2 | $ 1 | $ 17 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.40% | 2.50% | 2.60% | |
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 34.00% | 34.60% | 44.30% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.40% | 2.50% | 2.30% | |
Share Based Compensation Arrangement by Share Based Payment Award, Performance Period (Year) | 3 years | |||
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Target Shares Awards for Grant Number (in shares) | 174,200 | |||
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Vested Above Target Number (in shares) | 165,489 | |||
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Vested Above Target, Grant Date Fair Value (in dollars per share) | $ 26.99 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other Than Options, Vested Not Issued (in shares) | 426,856 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 37,761 | |||
Nonvested Shares [Member] | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 23 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 24 | $ 24 | $ 24 | |
The 2016 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 7,000,000 | 8,200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
The 2016 Stock Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Note 24 - Stock-based Compens_4
Note 24 - Stock-based Compensation Plan - Compensation Cost (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Compensation cost | $ 27 | $ 29 | $ 27 |
Huntsman International LLC [Member] | |||
Compensation cost | $ 26 | $ 28 | $ 26 |
Note 24 - Stock-based Compens_5
Note 24 - Stock-based Compensation Plan - Weighted Average of the Assumptions Utilized for Stock Options (Details) - Share-based Payment Arrangement, Option [Member] | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividend yield | 3.00% | 2.90% | 1.60% |
Expected volatility | 53.10% | 54.00% | 55.20% |
Risk-free interest rate | 1.40% | 2.50% | 2.60% |
Expected life of stock options granted during the period (in years) (Year) | 5 years 10 months 24 days | 5 years 10 months 24 days | 5 years 10 months 24 days |
Note 24 - Stock-based Compens_6
Note 24 - Stock-based Compensation Plan - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($)$ / sharesshares | |
Outstanding, shares (in shares) | shares | 5,025 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 19.08 |
Granted, shares (in shares) | shares | 788 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 21.52 |
Exercised, shares (in shares) | shares | (829) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 12.81 |
Forfeited, shares (in shares) | shares | (169) |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 24.28 |
Outstanding, shares (in shares) | shares | 4,815 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 20.37 |
Outstanding, weighted average remaining contractual term (Year) | 6 years |
Outstanding, aggregate intrinsic value | $ | $ 26 |
Exercisable, shares (in shares) | shares | 3,371 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 19.23 |
Exercisable, weighted average remaining contractual term (Year) | 4 years 10 months 24 days |
Exercisable, aggregate intrinsic value | $ | $ 22 |
Note 24 - Stock-based Compens_7
Note 24 - Stock-based Compensation Plan - Summary of the Status of Nonvested Shares (Details) shares in Thousands | 12 Months Ended | |
Dec. 31, 2020$ / sharesshares | ||
Equity Awards [Member] | ||
Nonvested, shares (in shares) | shares | 1,640 | |
Nonvested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 24.61 | |
Granted, shares (in shares) | shares | 848 | |
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 21.92 | |
Vested, shares (in shares) | shares | (577) | [1],[2] |
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 25.15 | |
Forfeited, shares (in shares) | shares | (44) | |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 26.44 | |
Nonvested, shares (in shares) | shares | 1,867 | |
Nonvested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 23.18 | |
Liability Awards [Member] | ||
Nonvested, shares (in shares) | shares | 427 | |
Nonvested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 24.80 | |
Granted, shares (in shares) | shares | 238 | |
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 21.53 | |
Vested, shares (in shares) | shares | (218) | |
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 24.64 | |
Forfeited, shares (in shares) | shares | (36) | |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 23.71 | |
Nonvested, shares (in shares) | shares | 411 | |
Nonvested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 23.08 | |
[1] | A total of 174,200 performance share unit awards are reflected in the vested shares in this table, which represents the target number of performance share unit awards for this grant and were included in the balance at December 31, 2019. During the year ended December 31, 2020, an additional 165,489 performance share unit awards with a grant date fair value of $26.99 vested above the target in accordance the performance criteria of these awards. | |
[2] | As of December 31, 2020, a total of 426,856 restricted stock units were vested but not yet issued, of which 37,761 vested during 2020. These shares have not been reflected as vested shares in this table because, in accordance with the restricted stock unit agreements, shares of common stock are not issued for vested restricted stock units until termination of employment. |
Note 25 - Other Comprehensive_3
Note 25 - Other Comprehensive (Loss) Income (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||||||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Total | $ 56 | $ 68 | $ 71 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [2] | 0 | [1] | 0 | [3] | |
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | ||||||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Total | 43 | 55 | 57 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [2] | 0 | [4] | 0 | [5] | |
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Total | 153 | 148 | 135 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [7] | (111) | [2],[6] | (62) | [2],[8] | (77) |
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Total | 178 | 174 | 161 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [7] | (115) | [2],[9] | (65) | [2],[10] | (80) |
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Discontinued Operations [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 5 | 7 | 22 | |||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Discontinued Operations [Member] | Huntsman International LLC [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | $ 5 | $ 7 | $ 22 | |||
[1] | Amounts are net of tax of $56 and $68 as of December 31, 2020 and January 1, 2020, respectively. | |||||
[2] | See table below for details about these reclassifications. | |||||
[3] | Amounts are net of tax of $68 and $71 as of December 31, 2019 and January 1, 2019, respectively. | |||||
[4] | Amounts are net of tax of $43 and $55 as of December 31, 2020 and January 1, 2020, respectively. | |||||
[5] | Amounts are net of tax of $55 and $57 as of December 31, 2019 and January 1, 2019, respectively. | |||||
[6] | Amounts are net of tax of $157 and $148 as of December 31, 2020 and January 1, 2020, respectively. | |||||
[7] | Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. | |||||
[8] | Amounts are net of tax of $148 and $135 as of December 31, 2019 and January 1, 2019, respectively. | |||||
[9] | Amounts are net of tax of $178 and $174 as of December 31, 2020 and January 1, 2020, respectively. | |||||
[10] | Amounts are net of tax of $174 and $161 as of December 31, 2019 and January 1, 2019, respectively. |
Note 25 - Other Comprehensive_4
Note 25 - Other Comprehensive (Loss) Income - Components and Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |||||
Balance | $ 2,824 | $ 2,749 | $ 3,371 | ||||
Balance | 3,673 | 2,824 | 2,749 | ||||
Huntsman International LLC [Member] | |||||||
Balance | 2,772 | 2,488 | 2,834 | ||||
Balance | 3,725 | 2,772 | 2,488 | ||||
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | |||||||
Balance | [2] | (369) | [1] | (371) | |||
Other comprehensive income (loss) before reclassifications, gross | 29 | [1] | 0 | [2] | |||
Tax benefit | 12 | [1] | 2 | [2] | |||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | [1] | 0 | [2] | ||
Tax expense | 0 | [1] | 0 | [2] | |||
Net current-period other comprehensive income (loss) | 41 | [1] | 2 | [2] | |||
Balance | (328) | [1] | (369) | [1],[2] | (371) | [2] | |
Acquisition of noncontrolling interest | [2] | 0 | |||||
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | |||||||
Balance | [5] | (374) | [4] | (376) | |||
Other comprehensive income (loss) before reclassifications, gross | 29 | [4] | 0 | [5] | |||
Tax benefit | 12 | [4] | 2 | [5] | |||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | [4] | 0 | [5] | ||
Tax expense | 0 | [4] | 0 | [5] | |||
Net current-period other comprehensive income (loss) | 41 | [4] | 2 | [5] | |||
Balance | (333) | [4] | (374) | [4],[5] | (376) | [5] | |
Acquisition of noncontrolling interest | [5] | 0 | |||||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | |||||||
Balance | [6] | (1,031) | [7] | (994) | |||
Other comprehensive income (loss) before reclassifications, gross | (135) | [7] | (112) | [6] | |||
Tax benefit | 30 | [7] | 25 | [6] | |||
Amounts reclassified from accumulated other comprehensive loss, gross | [8] | 111 | [3],[7] | 62 | [3],[6] | 77 | |
Tax expense | [8] | (25) | [7] | (12) | [6] | (13) | |
Net current-period other comprehensive income (loss) | (19) | [7] | (37) | [6] | |||
Balance | (1,050) | [7] | (1,031) | [6],[7] | (994) | [6] | |
Acquisition of noncontrolling interest | [6] | 0 | |||||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | |||||||
Balance | [9] | (1,012) | [10] | (977) | |||
Other comprehensive income (loss) before reclassifications, gross | (135) | [10] | (113) | [9] | |||
Tax benefit | 30 | [10] | 25 | [9] | |||
Amounts reclassified from accumulated other comprehensive loss, gross | [8] | 115 | [3],[10] | 65 | [3],[9] | 80 | |
Tax expense | [8] | (26) | [10] | (12) | [9] | (14) | |
Net current-period other comprehensive income (loss) | (16) | [10] | (35) | [9] | |||
Balance | (1,028) | [10] | (1,012) | [9],[10] | (977) | [9] | |
Acquisition of noncontrolling interest | [9] | 0 | |||||
Accumulated Other Comprehensive Income (Loss), Unconsolidated Affiliates Including Portion Attributable to Noncontrolling Interest [Member] | |||||||
Balance | 8 | 8 | |||||
Other comprehensive income (loss) before reclassifications, gross | 0 | 0 | |||||
Tax benefit | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | 0 | ||||
Tax expense | 0 | 0 | |||||
Net current-period other comprehensive income (loss) | 0 | 0 | |||||
Balance | 8 | 8 | 8 | ||||
Acquisition of noncontrolling interest | 0 | ||||||
Accumulated Other Comprehensive Income (Loss), Unconsolidated Affiliates Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | |||||||
Balance | 8 | 8 | |||||
Other comprehensive income (loss) before reclassifications, gross | 0 | 0 | |||||
Tax benefit | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | 0 | ||||
Tax expense | 0 | 0 | |||||
Net current-period other comprehensive income (loss) | 0 | 0 | |||||
Balance | 8 | 8 | 8 | ||||
Acquisition of noncontrolling interest | 0 | ||||||
Accumulated Other Comprehensive Income, Other, Net, Including Portion Attributable to Noncontrolling Interest [Member] | |||||||
Balance | 4 | 5 | |||||
Other comprehensive income (loss) before reclassifications, gross | 0 | (1) | |||||
Tax benefit | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | 0 | ||||
Tax expense | 0 | 0 | |||||
Net current-period other comprehensive income (loss) | 0 | (1) | |||||
Balance | 4 | 4 | 5 | ||||
Acquisition of noncontrolling interest | 0 | ||||||
Accumulated Other Comprehensive Income, Other, Net, Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | |||||||
Balance | 0 | 1 | |||||
Other comprehensive income (loss) before reclassifications, gross | 0 | (1) | |||||
Tax benefit | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | 0 | ||||
Tax expense | 0 | 0 | |||||
Net current-period other comprehensive income (loss) | 0 | (1) | |||||
Balance | 0 | 0 | 1 | ||||
Acquisition of noncontrolling interest | 0 | ||||||
AOCI Including Portion Attributable to Noncontrolling Interest [Member] | |||||||
Balance | (1,388) | (1,352) | |||||
Other comprehensive income (loss) before reclassifications, gross | (106) | (113) | |||||
Tax benefit | 42 | 27 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 111 | 62 | ||||
Tax expense | (25) | (12) | |||||
Net current-period other comprehensive income (loss) | 22 | (36) | |||||
Balance | (1,366) | (1,388) | (1,352) | ||||
Acquisition of noncontrolling interest | 0 | ||||||
AOCI Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | |||||||
Balance | (1,378) | (1,344) | |||||
Other comprehensive income (loss) before reclassifications, gross | (106) | (114) | |||||
Tax benefit | 42 | 27 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 115 | 65 | ||||
Tax expense | (26) | (12) | |||||
Net current-period other comprehensive income (loss) | 25 | (34) | |||||
Balance | (1,353) | (1,378) | (1,344) | ||||
Acquisition of noncontrolling interest | 0 | ||||||
AOCI Attributable to Noncontrolling Interest [Member] | |||||||
Balance | 26 | 36 | |||||
Other comprehensive income (loss) before reclassifications, gross | (6) | 5 | |||||
Tax benefit | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | 0 | ||||
Tax expense | 0 | 0 | |||||
Net current-period other comprehensive income (loss) | (6) | 5 | |||||
Balance | 20 | 26 | 36 | ||||
Acquisition of noncontrolling interest | (15) | ||||||
AOCI Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | |||||||
Balance | 26 | 36 | |||||
Other comprehensive income (loss) before reclassifications, gross | (6) | 5 | |||||
Tax benefit | 0 | 0 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 0 | 0 | ||||
Tax expense | 0 | 0 | |||||
Net current-period other comprehensive income (loss) | (6) | 5 | |||||
Balance | 20 | 26 | 36 | ||||
Acquisition of noncontrolling interest | (15) | ||||||
AOCI Attributable to Parent [Member] | |||||||
Balance | (1,362) | (1,316) | (1,268) | ||||
Other comprehensive income (loss) before reclassifications, gross | (112) | (108) | |||||
Tax benefit | 42 | 27 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 111 | 62 | ||||
Tax expense | (25) | (12) | |||||
Net current-period other comprehensive income (loss) | 16 | (31) | |||||
Balance | (1,346) | (1,362) | (1,316) | ||||
Acquisition of noncontrolling interest | (15) | ||||||
AOCI Attributable to Parent [Member] | Huntsman International LLC [Member] | |||||||
Balance | (1,352) | (1,308) | (1,263) | ||||
Other comprehensive income (loss) before reclassifications, gross | (112) | (109) | |||||
Tax benefit | 42 | 27 | |||||
Amounts reclassified from accumulated other comprehensive loss, gross | [3] | 115 | 65 | ||||
Tax expense | (26) | (12) | |||||
Net current-period other comprehensive income (loss) | 19 | (29) | |||||
Balance | $ (1,333) | (1,352) | $ (1,308) | ||||
Acquisition of noncontrolling interest | $ (15) | ||||||
[1] | Amounts are net of tax of $56 and $68 as of December 31, 2020 and January 1, 2020, respectively. | ||||||
[2] | Amounts are net of tax of $68 and $71 as of December 31, 2019 and January 1, 2019, respectively. | ||||||
[3] | See table below for details about these reclassifications. | ||||||
[4] | Amounts are net of tax of $43 and $55 as of December 31, 2020 and January 1, 2020, respectively. | ||||||
[5] | Amounts are net of tax of $55 and $57 as of December 31, 2019 and January 1, 2019, respectively. | ||||||
[6] | Amounts are net of tax of $148 and $135 as of December 31, 2019 and January 1, 2019, respectively. | ||||||
[7] | Amounts are net of tax of $157 and $148 as of December 31, 2020 and January 1, 2020, respectively. | ||||||
[8] | Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. | ||||||
[9] | Amounts are net of tax of $174 and $161 as of December 31, 2019 and January 1, 2019, respectively. | ||||||
[10] | Amounts are net of tax of $178 and $174 as of December 31, 2020 and January 1, 2020, respectively. |
Note 25 - Other Comprehensive_5
Note 25 - Other Comprehensive (Loss) Income - Reclassification Details (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Including Portion Attributable to Noncontrolling Interest [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1],[2] | $ (12) | $ (11) | $ (12) | ||
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1],[2] | (12) | (11) | (12) | ||
Accumulated Defined Benefit Plans Adjustment, Settlement Gain (Loss) Attributable to Noncontrolling Interest [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1] | 43 | 1 | 2 | ||
Accumulated Defined Benefit Plans Adjustment, Settlement Gain (Loss) Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1],[3] | 43 | 1 | 2 | ||
Accumulated Defined Benefit Plans Adjustment, Curtailment Gain (Loss) Attributable to Noncontrolling Interest [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1] | (2) | 0 | 0 | ||
Accumulated Defined Benefit Plans Adjustment, Curtailment Gain (Loss) Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1],[3] | (2) | 0 | 0 | ||
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | Discontinued Operations [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1],[2],[3] | 82 | 72 | 87 | ||
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | Discontinued Operations [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1],[2],[3] | 86 | 75 | 90 | ||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1] | 111 | [4],[5] | 62 | [5],[6] | 77 |
Tax expense | [1] | (25) | [4] | (12) | [6] | (13) |
Total reclassifications for the period | [1] | 86 | 50 | 64 | ||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Discontinued Operations [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | (5) | (7) | (22) | |||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | [1] | 115 | [5],[7] | 65 | [5],[8] | 80 |
Tax expense | [1] | (26) | [7] | (12) | [8] | (14) |
Total reclassifications for the period | [1] | 89 | 53 | 66 | ||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Huntsman International LLC [Member] | Discontinued Operations [Member] | ||||||
Amounts reclassified from accumulated other comprehensive loss, gross | $ (5) | $ (7) | $ (22) | |||
[1] | Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations. | |||||
[2] | These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See "Note 19. Employee Benefit Plans." | |||||
[3] | Amounts contain approximately $5, $7 and $22 of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2020, 2019 and 2018, respectively. | |||||
[4] | Amounts are net of tax of $157 and $148 as of December 31, 2020 and January 1, 2020, respectively. | |||||
[5] | See table below for details about these reclassifications. | |||||
[6] | Amounts are net of tax of $148 and $135 as of December 31, 2019 and January 1, 2019, respectively. | |||||
[7] | Amounts are net of tax of $178 and $174 as of December 31, 2020 and January 1, 2020, respectively. | |||||
[8] | Amounts are net of tax of $174 and $161 as of December 31, 2019 and January 1, 2019, respectively. |
Note 26 - Related Party Trans_3
Note 26 - Related Party Transactions - Transactions With Affiliates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Sales to unconsolidated affiliates | $ 115 | $ 133 | $ 153 |
Inventory purchases from unconsolidated affiliates | $ 407 | $ 434 | $ 411 |
Note 27 - Operating Segment I_3
Note 27 - Operating Segment Information (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Number of Reportable Segments | 4 |
Number of Operating Segments | 4 |
Note 27 - Operating Segment I_4
Note 27 - Operating Segment Information - Financial Information By Segment (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Total revenues | [1] | $ 6,018 | $ 6,797 | $ 7,604 |
Segment adjusted EBITDA | [2] | 647 | 846 | 1,161 |
Interest expense, netācontinuing operations | (86) | (111) | (115) | |
Interest expense, netādiscontinued operations | 0 | 0 | (36) | |
Income tax (expense) benefitācontinuing operations | (46) | 38 | (45) | |
Income tax expense | (242) | (35) | (86) | |
Depreciation and amortizationācontinuing operations | (283) | (270) | (255) | |
Depreciation and amortizationādiscontinued operations | 0 | (61) | (88) | |
Net income attributable to noncontrolling interests | 32 | 36 | 313 | |
Business acquisition and integration expenses and purchase accounting inventory adjustments | (31) | (5) | (9) | |
Merger costs | 0 | 0 | (2) | |
EBITDA from discontinued operations | 1,017 | 265 | 171 | |
Noncontrolling interest of discontinued operations | 0 | 0 | (232) | |
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Loss on early extinguishment of debt | 0 | (23) | (3) | |
Certain legal and other settlements and related expenses | (5) | (6) | (1) | |
Gain (loss) on sale of businesses/assets | 280 | (21) | 0 | |
Income from transition services arrangements | 7 | 0 | 0 | |
Certain nonrecurring information technology project implementation costs | (6) | (4) | 0 | |
Amortization of pension and postretirement actuarial losses | (76) | (66) | (67) | |
Plant incident remediation costs | (2) | (8) | 0 | |
Restructuring, impairment and plant closing and transition (costs) credits | (52) | 41 | 6 | |
Net income | 1,066 | 598 | 650 | |
Depreciation and amortization - continuing operations | 283 | 270 | 255 | |
Capital expenditures | 249 | 274 | 251 | |
Total assets | 8,713 | 7,112 | ||
Goodwill | 533 | 276 | ||
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Huntsman International LLC [Member] | ||||
Total revenues | 6,018 | 6,797 | 7,604 | |
Segment adjusted EBITDA | 653 | 851 | 1,165 | |
Interest expense, netācontinuing operations | (88) | (126) | (136) | |
Interest expense, netādiscontinued operations | 0 | 0 | (36) | |
Income tax (expense) benefitācontinuing operations | (46) | 41 | (41) | |
Income tax expense | (242) | (35) | (86) | |
Depreciation and amortizationācontinuing operations | (283) | (270) | (252) | |
Depreciation and amortizationādiscontinued operations | 0 | (61) | (88) | |
Net income attributable to noncontrolling interests | 32 | 36 | 313 | |
Business acquisition and integration expenses and purchase accounting inventory adjustments | (31) | (5) | (9) | |
Merger costs | 0 | 0 | (2) | |
EBITDA from discontinued operations | 1,017 | 265 | 171 | |
Noncontrolling interest of discontinued operations | 0 | 0 | (232) | |
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Loss on early extinguishment of debt | 0 | (23) | (3) | |
Certain legal and other settlements and related expenses | (5) | (6) | (1) | |
Gain (loss) on sale of businesses/assets | 280 | (21) | 0 | |
Income from transition services arrangements | 7 | 0 | 0 | |
Certain nonrecurring information technology project implementation costs | (6) | (4) | 0 | |
Amortization of pension and postretirement actuarial losses | (79) | (70) | (71) | |
Plant incident remediation costs | (2) | (8) | 0 | |
Restructuring, impairment and plant closing and transition (costs) credits | (52) | 41 | 6 | |
Net income | 1,067 | 587 | 636 | |
Depreciation and amortization - continuing operations | 283 | 270 | 252 | |
Capital expenditures | 249 | 274 | 251 | |
Total assets | 8,756 | 7,515 | ||
Goodwill | 533 | 276 | ||
Fair value adjustments to Venator investment and related loss on disposal | (88) | (18) | (62) | |
Consolidation, Eliminations [Member] | ||||
Total revenues | (25) | (79) | 81 | |
Corporate and Reconciling Items [Member] | ||||
Depreciation and amortizationācontinuing operations | (13) | (17) | (16) | |
Depreciation and amortization - continuing operations | 13 | 17 | 16 | |
Capital expenditures | 12 | 11 | 10 | |
Total assets | 2,198 | 1,265 | ||
Corporate and Reconciling Items [Member] | Huntsman International LLC [Member] | ||||
Depreciation and amortizationācontinuing operations | (13) | (17) | (13) | |
Depreciation and amortization - continuing operations | 13 | 17 | 13 | |
Capital expenditures | 12 | 11 | 10 | |
Total assets | 2,241 | 1,668 | ||
Segment Reconciling Items [Member] | ||||
Total revenues | [1] | (25) | (79) | 81 |
Segment adjusted EBITDA | [2],[3] | (161) | (155) | (171) |
Segment Reconciling Items [Member] | Huntsman International LLC [Member] | ||||
Segment adjusted EBITDA | [2],[3] | (155) | (150) | (167) |
Polyurethanes [Member] | Operating Segments [Member] | ||||
Total revenues | [1] | 3,584 | 3,911 | 4,282 |
Segment adjusted EBITDA | [2] | 472 | 548 | 809 |
Depreciation and amortizationācontinuing operations | (130) | (120) | (108) | |
Depreciation and amortization - continuing operations | 130 | 120 | 108 | |
Capital expenditures | 172 | 185 | 153 | |
Total assets | 3,970 | 3,437 | ||
Goodwill | 312 | 177 | ||
Polyurethanes [Member] | Operating Segments [Member] | Huntsman International LLC [Member] | ||||
Segment adjusted EBITDA | [2] | 472 | 548 | 809 |
Depreciation and amortizationācontinuing operations | (130) | (120) | (108) | |
Depreciation and amortization - continuing operations | 130 | 120 | 108 | |
Capital expenditures | 172 | 185 | 153 | |
Total assets | 3,970 | 3,437 | ||
Goodwill | 312 | 177 | ||
Performance Products [Member] | Operating Segments [Member] | ||||
Total revenues | [1] | 1,023 | 1,158 | 1,301 |
Segment adjusted EBITDA | [2] | 164 | 168 | 197 |
Depreciation and amortizationācontinuing operations | (79) | (81) | (78) | |
Depreciation and amortization - continuing operations | 79 | 81 | 78 | |
Capital expenditures | 32 | 32 | 48 | |
Total assets | 1,062 | 1,125 | ||
Goodwill | 18 | 16 | ||
Performance Products [Member] | Operating Segments [Member] | Huntsman International LLC [Member] | ||||
Segment adjusted EBITDA | [2] | 164 | 168 | 197 |
Depreciation and amortizationācontinuing operations | (79) | (81) | (78) | |
Depreciation and amortization - continuing operations | 79 | 81 | 78 | |
Capital expenditures | 32 | 32 | 48 | |
Total assets | 1,062 | 1,125 | ||
Goodwill | 18 | 16 | ||
Advanced Materials [Member] | Operating Segments [Member] | ||||
Total revenues | [1] | 839 | 1,044 | 1,116 |
Segment adjusted EBITDA | [2] | 130 | 201 | 225 |
Depreciation and amortizationācontinuing operations | (45) | (36) | (37) | |
Depreciation and amortization - continuing operations | 45 | 36 | 37 | |
Capital expenditures | 21 | 24 | 20 | |
Total assets | 1,002 | 774 | ||
Goodwill | 203 | 83 | ||
Advanced Materials [Member] | Operating Segments [Member] | Huntsman International LLC [Member] | ||||
Segment adjusted EBITDA | [2] | 130 | 201 | 225 |
Depreciation and amortizationācontinuing operations | (45) | (36) | (37) | |
Depreciation and amortization - continuing operations | 45 | 36 | 37 | |
Capital expenditures | 21 | 24 | 20 | |
Total assets | 1,002 | 774 | ||
Goodwill | 203 | 83 | ||
Textile Effects [Member] | Operating Segments [Member] | ||||
Total revenues | [1] | 597 | 763 | 824 |
Segment adjusted EBITDA | [2] | 42 | 84 | 101 |
Depreciation and amortizationācontinuing operations | (16) | (16) | (16) | |
Depreciation and amortization - continuing operations | 16 | 16 | 16 | |
Capital expenditures | 12 | 22 | 20 | |
Total assets | 481 | 511 | ||
Textile Effects [Member] | Operating Segments [Member] | Huntsman International LLC [Member] | ||||
Segment adjusted EBITDA | [2] | 42 | 84 | 101 |
Depreciation and amortizationācontinuing operations | (16) | (16) | (16) | |
Depreciation and amortization - continuing operations | 16 | 16 | 16 | |
Capital expenditures | 12 | 22 | $ 20 | |
Total assets | $ 481 | $ 511 | ||
[1] | Geographic information for revenues is based upon countries into which product is sold. | |||
[2] | We use segment adjusted EBITDA as the measure of each segment's profit or loss. We believe that segment adjusted EBITDA more accurately reflects what the chief operating decision maker uses to make decisions about resources to be allocated to the segments and assess their financial performance. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) business acquisition and integration expenses and purchase accounting inventory adjustments; (b) merger costs; (c) EBITDA from discontinued operations; (d) noncontrolling interest of discontinued operations; (e) fair value adjustments to Venator investment and related loss on disposal; (f) loss on early extinguishment of debt; (g) certain legal and other settlements and related expenses; (h) gain (loss) on sale of businesses/assets; (i) income from transition services arrangements related to the sale of our Chemical Intermediates Businesses to Indorama; (j) certain nonrecurring information technology project implementation costs; (k) amortization of pension and postretirement actuarial losses; (l) plant incident remediation costs; and (m) restructuring, impairment, plant closing and transition (costs) credits . | |||
[3] | Corporate and other includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets. |
Note 27 - Operating Segment I_5
Note 27 - Operating Segment Information - Revenues and Long-lived Assets By Geographical Area (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Revenues | [1] | $ 6,018 | $ 6,797 | $ 7,604 |
Long-lived assets | [2],[3] | 2,505 | 2,383 | |
UNITED STATES | ||||
Revenues | [1] | 1,863 | 2,025 | 2,136 |
Long-lived assets | [3] | 1,078 | 970 | |
CHINA | ||||
Revenues | [1] | 1,115 | 1,076 | 1,260 |
Long-lived assets | [3] | 251 | 247 | |
NETHERLANDS | ||||
Long-lived assets | [3] | 368 | 334 | |
GERMANY | ||||
Revenues | [1] | 388 | 541 | 537 |
Long-lived assets | [3] | 144 | 137 | |
INDIA | ||||
Revenues | [1] | 211 | 319 | 352 |
Other Nations [Member] | ||||
Revenues | [1] | 2,441 | 2,836 | $ 3,319 |
Long-lived assets | [3] | 358 | 341 | |
SAUDI ARABIA | ||||
Long-lived assets | [3] | 143 | 154 | |
SINGAPORE | ||||
Long-lived assets | [3] | 90 | 94 | |
SWITZERLAND | ||||
Long-lived assets | [3] | $ 73 | $ 106 | |
[1] | Geographic information for revenues is based upon countries into which product is sold. | |||
[2] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." | |||
[3] | Long-lived assets consist of property, plant and equipment, net. |
Schedule I - Condensed Financ_3
Schedule I - Condensed Financial Information of Registrant - Huntsman Corporation (Parent Only) Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash and cash equivalents | [1] | $ 1,593 | $ 525 | ||
Receivable from affiliate | 8 | 13 | |||
Total current assets | 3,568 | 3,755 | |||
Note receivable from affiliate-noncurrent | 0 | 34 | |||
Investment in and advances to affiliates | 373 | 535 | |||
Total assets | 8,713 | 8,320 | |||
Payable to affiliate | 34 | 57 | |||
Accrued liabilities | [1] | 458 | 420 | ||
Total current liabilities | 1,979 | 2,008 | |||
Other noncurrent liabilities | [1] | 910 | 898 | ||
Total liabilities | 5,040 | 5,496 | |||
Common stock $0.01 par value, 1,200,000,000 shares authorized, 258,520,411 and 257,405,496 shares issued and 220,046,262 and 224,295,868 shares outstanding, respectively | 3 | 3 | |||
Additional paid-in capital | 4,048 | 4,008 | |||
Treasury stock, 38,477,091 and 33,112,572 shares, respectively | (731) | (635) | |||
Unearned stock-based compensation | (19) | (17) | |||
Retained earnings | 1,564 | 690 | |||
Accumulated other comprehensive loss | (1,346) | (1,362) | |||
Total stockholdersā equity | 3,519 | 2,687 | |||
Total liabilities and stockholdersā equity | 8,713 | 8,320 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | |||||
Cash and cash equivalents | 2 | 0 | |||
Prepaid assets | 2 | 1 | |||
Receivable from affiliate | 3 | 86 | |||
Note receivable from affiliate | 0 | 100 | |||
Total current assets | 7 | 187 | |||
Note receivable from affiliate-noncurrent | 0 | 280 | |||
Investment in and advances to affiliates | 3,561 | 2,626 | |||
Total assets | 3,568 | 3,093 | |||
Payable to affiliate | 39 | 396 | |||
Accrued liabilities | 3 | 3 | |||
Total current liabilities | 42 | 399 | |||
Other noncurrent liabilities | 7 | 7 | |||
Total liabilities | 49 | 406 | |||
Common stock $0.01 par value, 1,200,000,000 shares authorized, 258,520,411 and 257,405,496 shares issued and 220,046,262 and 224,295,868 shares outstanding, respectively | 3 | 3 | |||
Additional paid-in capital | 4,048 | 4,008 | |||
Treasury stock, 38,477,091 and 33,112,572 shares, respectively | (731) | (635) | |||
Unearned stock-based compensation | (19) | (17) | |||
Retained earnings | 1,564 | 690 | |||
Accumulated other comprehensive loss | (1,346) | (1,362) | |||
Total stockholdersā equity | 3,519 | 2,687 | $ 2,520 | $ 2,620 | |
Total liabilities and stockholdersā equity | $ 3,568 | $ 3,093 | |||
[1] | At December 31, 2020 and December 31, 2019, respectively, $2 and nil of cash and cash equivalents, $6 and $13 of accounts and notes receivable (net), $38 and $35 of inventories, $167 and $180 of property, plant and equipment (net), $23 and $20 of other noncurrent assets, $119 and $100 of accounts payable, $13 and $10 of accrued liabilities, $47 and $36 of current portion of debt, $5 and $4 of current operating lease liabilities, $3 and $29 of long-term debt, $17 and $11 of noncurrent operating lease and $82 and $87 of other noncurrent liabilities from consolidated variable interest entities are included in the respective Balance Sheets captions above. See "Note 8. Variable Interest Entities." |
Schedule I - Condensed Financ_4
Schedule I - Condensed Financial Information of Registrant - Huntsman Corporation (Parent Only) Balance Sheets (Details) (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,200,000,000 | 1,200,000,000 |
Common stock, shares issued (in shares) | 258,520,411 | 257,405,496 |
Common stock, shares outstanding (in shares) | 220,046,262 | 224,295,868 |
Treasury stock, shares (in shares) | 38,477,091 | 33,112,572 |
Parent Company [Member] | Reportable Legal Entities [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,200,000,000 | 1,200,000,000 |
Common stock, shares issued (in shares) | 258,520,411 | 257,405,496 |
Common stock, shares outstanding (in shares) | 220,046,262 | 224,295,868 |
Treasury stock, shares (in shares) | 38,477,091 | 33,112,572 |
Schedule I - Condensed Financ_5
Schedule I - Condensed Financial Information of Registrant - Huntsman Corporation (Parent Only) Statements of Operations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Selling, general and administrative expenses | $ (775) | $ (786) | $ (789) |
Interest income | (86) | (111) | (115) |
Equity in income of subsidiaries | 42 | 54 | 55 |
Other income | 36 | 20 | 32 |
Net (loss) income | 1,034 | 562 | 337 |
Parent Company [Member] | Reportable Legal Entities [Member] | |||
Selling, general and administrative expenses | (6) | (5) | (4) |
Interest income | 2 | 15 | 21 |
Equity in income of subsidiaries | 892 | 401 | 163 |
Dividend incomeāaffiliate | 144 | 148 | 154 |
Other income | 2 | 3 | 3 |
Net (loss) income | $ 1,034 | $ 562 | $ 337 |
Schedule I - Condensed Financ_6
Schedule I - Condensed Financial Information of Registrant - Huntsman Corporation (Parent Only) Statements of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 1,066 | $ 598 | $ 650 |
Foreign currency translations adjustments | 41 | 2 | (192) |
Pension and other postretirement benefits adjustments | (19) | (37) | (39) |
Other, net | 0 | (1) | (9) |
Other comprehensive income, net of tax | 22 | (36) | (240) |
Comprehensive income | 1,088 | 562 | 410 |
Comprehensive income attributable to noncontrolling interests | (38) | (31) | (266) |
Comprehensive income attributable to Huntsman Corporation | 1,050 | 531 | 144 |
Reportable Legal Entities [Member] | Parent Company [Member] | |||
Net income | 1,034 | 562 | 337 |
Foreign currency translations adjustments | 41 | 2 | (192) |
Pension and other postretirement benefits adjustments | (19) | (37) | (39) |
Other, net | 32 | 35 | 304 |
Other comprehensive income, net of tax | 54 | 0 | 73 |
Comprehensive income | 1,088 | 562 | 410 |
Comprehensive income attributable to noncontrolling interests | (38) | (31) | (266) |
Comprehensive income attributable to Huntsman Corporation | $ 1,050 | $ 531 | $ 144 |
Schedule I - Condensed Financ_7
Schedule I - Condensed Financial Information of Registrant - Huntsman Corporation (Parent Only) Statements of Stockholders' Equity (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Balance | $ 2,687 | $ 2,687 | ||
Net income | 1,034 | $ 562 | $ 337 | |
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 5 | 7 | 11 | |
Recognition of stock-based compensation | 23 | 23 | 21 | |
Repurchase and cancellation of stock awards | $ (8) | (12) | (30) | |
Stock options exercised (in shares) | 829,000 | |||
Stock options exercised | $ 3 | 2 | 17 | |
Treasury stock repurchased (in shares) | (5,364,519) | |||
Treasury stock repurchased | $ (96) | (96) | (208) | (277) |
Disposition of a portion of Venator | 18 | |||
Costs of the secondary offering of Venator | (2) | |||
Deconsolidation of Venator | (591) | |||
Accrued and unpaid dividends | (1) | |||
Dividends declared on common stock | (145) | (150) | $ (156) | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (84) | |||
Balance | $ 3,519 | $ 2,687 | ||
Common Stock Outstanding [Member] | ||||
Vesting of stock awards (in shares) | 1,643,368 | 1,135,003 | ||
Repurchase and cancellation of stock awards (in shares) | (287,247) | (488,441) | (259,643) | |
Stock options exercised (in shares) | 441,754 | 246,661 | 2,310,663 | |
Treasury stock repurchased (in shares) | (10,099,892) | (10,405,457) | ||
Common Stock [Member] | ||||
Issuance of nonvested stock awards | $ 0 | $ 0 | $ 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Additional Paid-in Capital [Member] | ||||
Issuance of nonvested stock awards | 18 | 17 | 14 | |
Vesting of stock awards | 5 | 7 | 11 | |
Recognition of stock-based compensation | 7 | 7 | 8 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 10 | 4 | 46 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 18 | |||
Costs of the secondary offering of Venator | (2) | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (11) | |||
Deferred Compensation, Share-based Payments [Member] | ||||
Issuance of nonvested stock awards | (18) | (17) | (14) | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 16 | 16 | 13 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Retained Earnings [Member] | ||||
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | (8) | (12) | (30) | |
Stock options exercised | (7) | (2) | (29) | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | (1) | |||
Dividends declared on common stock | (145) | (150) | (156) | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
AOCI Attributable to Parent [Member] | ||||
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 160 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | ||||
Balance | $ 2,687 | 2,687 | 2,520 | 2,620 |
Net income | 1,034 | 562 | 337 | |
Other comprehensive loss | 16 | (46) | (198) | |
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 5 | 7 | 11 | |
Recognition of stock-based compensation | 23 | 23 | 21 | |
Repurchase and cancellation of stock awards | (8) | (12) | (30) | |
Stock options exercised | 3 | 2 | 17 | |
Treasury stock repurchased | 96 | 208 | 277 | |
Disposition of a portion of Venator | 18 | |||
Costs of the secondary offering of Venator | (2) | |||
Deconsolidation of Venator | 160 | |||
Accrued and unpaid dividends | (1) | |||
Dividends declared on common stock | (145) | (150) | (156) | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (11) | |||
Balance | $ 3,519 | $ 2,687 | 2,520 | |
Parent Company [Member] | Reportable Legal Entities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | $ 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | Common Stock Outstanding [Member] | ||||
Balance (in shares) | 224,295,868 | 224,295,868 | 232,994,172 | 240,213,606 |
Vesting of stock awards (in shares) | 960,406 | 1,643,368 | 1,135,003 | |
Repurchase and cancellation of stock awards (in shares) | (287,247) | (488,441) | (259,643) | |
Stock options exercised (in shares) | 441,754 | 246,661 | 2,310,663 | |
Treasury stock repurchased (in shares) | (5,364,519) | (10,099,892) | (10,405,457) | |
Balance (in shares) | 220,046,262 | 224,295,868 | 232,994,172 | |
Parent Company [Member] | Reportable Legal Entities [Member] | Common Stock Outstanding [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance (in shares) | 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | Common Stock [Member] | ||||
Balance | $ 3 | $ 3 | $ 3 | $ 3 |
Net income | 0 | 0 | 0 | |
Other comprehensive loss | 0 | 0 | 0 | |
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Balance | 3 | 3 | 3 | |
Parent Company [Member] | Reportable Legal Entities [Member] | Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | Additional Paid-in Capital [Member] | ||||
Balance | 4,008 | 4,008 | 3,984 | 3,889 |
Net income | 0 | 0 | 0 | |
Other comprehensive loss | 0 | 0 | 0 | |
Issuance of nonvested stock awards | 18 | 17 | 14 | |
Vesting of stock awards | 5 | 7 | 11 | |
Recognition of stock-based compensation | 7 | 7 | 8 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 10 | 4 | 46 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 18 | |||
Costs of the secondary offering of Venator | (2) | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | (11) | |||
Balance | 4,048 | 4,008 | 3,984 | |
Parent Company [Member] | Reportable Legal Entities [Member] | Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | Treasury Stock, Common [Member] | ||||
Balance | (635) | (635) | (427) | (150) |
Net income | 0 | 0 | 0 | |
Other comprehensive loss | 0 | 0 | 0 | |
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 96 | 208 | 277 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Balance | (731) | (635) | (427) | |
Parent Company [Member] | Reportable Legal Entities [Member] | Treasury Stock, Common [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | Deferred Compensation, Share-based Payments [Member] | ||||
Balance | (17) | (17) | (16) | (15) |
Net income | 0 | 0 | 0 | |
Other comprehensive loss | 0 | 0 | 0 | |
Issuance of nonvested stock awards | (18) | (17) | (14) | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 16 | 16 | 13 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Balance | (19) | (17) | (16) | |
Parent Company [Member] | Reportable Legal Entities [Member] | Deferred Compensation, Share-based Payments [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | 0 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | Retained Earnings [Member] | ||||
Balance | 690 | 690 | 292 | 161 |
Net income | 1,034 | 562 | 337 | |
Other comprehensive loss | 0 | 0 | 0 | |
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | (8) | (12) | (30) | |
Stock options exercised | (7) | (2) | (29) | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 0 | |||
Accrued and unpaid dividends | (1) | |||
Dividends declared on common stock | (145) | (150) | (156) | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Balance | 1,564 | 690 | 292 | |
Parent Company [Member] | Reportable Legal Entities [Member] | Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | 10 | |||
Parent Company [Member] | Reportable Legal Entities [Member] | AOCI Attributable to Parent [Member] | ||||
Balance | $ (1,362) | (1,362) | (1,316) | (1,268) |
Net income | 0 | 0 | 0 | |
Other comprehensive loss | 16 | (46) | (198) | |
Issuance of nonvested stock awards | 0 | 0 | 0 | |
Vesting of stock awards | 0 | 0 | 0 | |
Recognition of stock-based compensation | 0 | 0 | 0 | |
Repurchase and cancellation of stock awards | 0 | 0 | 0 | |
Stock options exercised | 0 | 0 | 0 | |
Treasury stock repurchased | 0 | 0 | 0 | |
Disposition of a portion of Venator | 0 | |||
Costs of the secondary offering of Venator | 0 | |||
Deconsolidation of Venator | 160 | |||
Accrued and unpaid dividends | 0 | |||
Dividends declared on common stock | 0 | 0 | 0 | |
Adjustments to Additional Paid in Capital, Acquisition of Noncontrolling Interests | 0 | |||
Balance | $ (1,346) | $ (1,362) | (1,316) | |
Parent Company [Member] | Reportable Legal Entities [Member] | AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
Balance | $ (10) |
Schedule I - Condensed Financ_8
Schedule I - Condensed Financial Information of Registrant - Huntsman Corporation (Parent Only) Statements of Cash Flows (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Activities: | |||||||||||
Net income | $ 1,034 | $ 562 | $ 337 | ||||||||
Equity in income of subsidiaries | (42) | (54) | (55) | ||||||||
Stock-based compensation | 27 | 29 | 27 | ||||||||
Net cash provided by operating activities | 253 | 897 | 1,207 | ||||||||
Investing Activities: | |||||||||||
Net cash provided by (used in) investing activities | 1,463 | (260) | (973) | ||||||||
Financing Activities: | |||||||||||
Dividends paid to common stockholders | $ (35) | $ (36) | $ (36) | $ (37) | $ (35) | $ (38) | $ (38) | $ (39) | (144) | (150) | (156) |
Proceeds from issuance of common stock | 3 | 2 | 17 | ||||||||
Repurchase of common stock | (96) | (208) | (277) | ||||||||
Net cash used in financing activities | (655) | (450) | (424) | ||||||||
Increase (decrease) in cash, cash equivalents and restricted cash | 1,068 | 185 | (225) | ||||||||
Cash, cash equivalents and restricted cash from continuing operations at beginning of period | 525 | 340 | 525 | 340 | 481 | ||||||
Cash and cash equivalents at end of period | 525 | 525 | 340 | ||||||||
Reportable Legal Entities [Member] | Parent Company [Member] | |||||||||||
Operating Activities: | |||||||||||
Net income | 1,034 | 562 | 337 | ||||||||
Equity in income of subsidiaries | (892) | (401) | (163) | ||||||||
Stock-based compensation | 1 | 1 | 1 | ||||||||
Noncash interest income | (2) | (15) | (21) | ||||||||
Changes in operating assets and liabilities | (1) | 13 | 19 | ||||||||
Net cash provided by operating activities | 140 | 160 | 173 | ||||||||
Investing Activities: | |||||||||||
Repayments of loan by affiliate | 380 | 207 | 255 | ||||||||
Net cash provided by (used in) investing activities | 380 | 207 | 255 | ||||||||
Financing Activities: | |||||||||||
Dividends paid to common stockholders | (144) | (150) | (156) | ||||||||
Repurchase and cancellation of stock awards | (8) | (12) | (30) | ||||||||
Proceeds from issuance of common stock | 3 | 2 | 17 | ||||||||
Repurchase of common stock | (96) | (208) | (277) | ||||||||
(Decrease) increase in payable to affiliates | (273) | 1 | 16 | ||||||||
Net cash used in financing activities | (518) | (367) | (430) | ||||||||
Increase (decrease) in cash, cash equivalents and restricted cash | 2 | 0 | (2) | ||||||||
Cash, cash equivalents and restricted cash from continuing operations at beginning of period | $ 0 | $ 0 | 0 | 0 | 2 | ||||||
Cash and cash equivalents at end of period | $ 2 | $ 0 | $ 2 | $ 0 | $ 0 |