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1. GENERAL
DEFINITIONS
听听听听听听听听For convenience in this report, the terms "Company," "our" or "we" may be used to refer to 乐天堂fun88(中国区)官方网站 Corporation and, unless the context otherwise requires, its subsidiaries and predecessors. Any references to our "Company" "we" "us" or "our" as of a date prior to October听19, 2004 (the date of our Company's formation) are to 乐天堂fun88(中国区)官方网站 Holdings, LLC and its subsidiaries (including their respective predecessors). In this report, "乐天堂fun88(中国区)官方网站 International" refers to 乐天堂fun88(中国区)官方网站 International LLC (our 100% owned subsidiary) and, unless the context otherwise requires, its subsidiaries; "HPS" refers to 乐天堂fun88(中国区)官方网站 Polyurethanes Shanghai听Ltd. (our consolidated splitting joint venture with Shanghai Chlor-Alkali Chemical Company,听Ltd); and "SLIC" refers to Shanghai Liengheng Isocyanate Company (our unconsolidated manufacturing joint venture with BASF AG and three Chinese chemical companies).
听听听听听听听听In this report, we may use, without definition, the common names of competitors or other industry participants. We may also use the common names or abbreviations for certain chemicals or products.
DESCRIPTION OF BUSINESS
听听听听听听听听We are a global manufacturer of differentiated organic chemical products and of inorganic chemical products. Our products comprise a broad range of chemicals and formulations, which we market globally to a diversified group of consumer and industrial customers. Our products are used in a wide range of applications, including those in the adhesives, aerospace, automotive, construction products, durable and non-durable consumer products, electronics, medical, packaging, paints and coatings, power generation, refining, synthetic fiber, textile chemicals and dye industries. We are a leading global producer in many of our key product lines, including MDI, amines, surfactants, maleic anhydride, epoxy-based polymer formulations, textile chemicals, dyes and titanium dioxide.
听听听听听听听听We operate in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects and Pigments. Our Polyurethanes, Performance Products, Advanced Materials and Textile Effects segments produce differentiated organic chemical products and our Pigments segment produces inorganic chemical products. In a series of transactions beginning in 2006, we sold or shutdown substantially all of our Australian styrenics operations and our North American polymers and base chemicals operations. We report the results of these businesses as discontinued operations. See "Note听25. Discontinued Operations."
COMPANY
听听听听听听听听Our Company, a Delaware corporation, was formed in 2004 to hold the 乐天堂fun88(中国区)官方网站 businesses. Jon听M. 乐天堂fun88(中国区)官方网站 founded the predecessor to our Company in 1970 as a small packaging company. Since then, we have grown through a series of acquisitions and now own a global portfolio of businesses.
听听听听听听听听Currently, we operate all of our businesses through 乐天堂fun88(中国区)官方网站 International, our 100% owned subsidiary. 乐天堂fun88(中国区)官方网站 International is a Delaware limited liability company and was formed in 1999.
HUNTSMAN CORPORATION AND HUNTSMAN INTERNATIONAL FINANCIAL STATEMENTS
听听听听听听听听Except where otherwise indicated, these notes relate to the consolidated financial statements for both our Company and 乐天堂fun88(中国区)官方网站 International. The differences between our financial statements and 乐天堂fun88(中国区)官方网站 International's financial statements relate primarily to the following:
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purchase accounting recorded at our Company for the 2003 step-acquisition of 乐天堂fun88(中国区)官方网站 International Holdings LLC, the former parent company of 乐天堂fun88(中国区)官方网站 International that was merged into 乐天堂fun88(中国区)官方网站 International in 2005;
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the different capital structures;
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- a note payable from 乐天堂fun88(中国区)官方网站 International to us;
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(expenses) income associated with the Terminated Merger and related litigation;
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the Convertible Notes issued in connection with our settlement agreement with Apollo and Hexion (the "Apollo Settlement Agreement"), which we repurchased on January听11, 2010 (see "Note听14. Debt"); and
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- the results of the Texas Bank Litigation Settlement Agreement.
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