ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant

v3.19.3.a.u2
Schedule I - Condensed Financial Information of Registrant
12 Months Ended
Dec. 31, 2019
Schedule I - Condensed Financial Information of Registrant Ìý
Schedule I - Condensed Financial Information of Registrant

HUNTSMAN CORPORATION (PARENT ONLY)

ScheduleÌýI—Condensed Financial Information of Registrant

HUNTSMAN CORPORATION (Parent Only)

BALANCE SHEETS

(In Millions, Except Share and Per Share Amounts)

�

�

�

�

�

�

�

�

�

DecemberÌý31,Ìý

�

�

2019

�

2018

ASSETS

ÌýÌýÌýÌý

�

ÌýÌý

ÌýÌýÌýÌý

�

ÌýÌý

Prepaid assets

�

$

1

�

$

1

Receivable from affiliate

�

Ìý

86

�

Ìý

72

Note receivable from affiliate

�

Ìý

100

�

Ìý

100

Total current assets

�

Ìý

187

�

Ìý

173

Note receivable from affiliate-noncurrent

�

Ìý

280

�

Ìý

488

Investment in and advances to affiliates

�

Ìý

2,626

�

Ìý

2,251

Total assets

�

$

3,093

�

$

2,912

LIABILITIES AND STOCKHOLDERS� EQUITY

�

Ìý

ÌýÌý

�

Ìý

ÌýÌý

Payable to affiliate

�

$

396

�

$

381

Accrued liabilities

�

Ìý

3

�

Ìý

3

Total current liabilities

�

Ìý

399

�

Ìý

384

Other noncurrent liabilities

�

Ìý

7

�

Ìý

8

Total liabilities

�

Ìý

406

�

Ìý

392

STOCKHOLDERS� EQUITY

�

Ìý

ÌýÌý

�

Ìý

ÌýÌý

Common stock $0.01 par value, 1,200,000,000 shares authorized, 257,405,496 and 256,006,849 shares issued and 224,295,868 and 232,994,172 shares outstanding, respectively

�

Ìý

3

�

Ìý

3

Additional paid-in capital

�

Ìý

4,008

�

Ìý

3,984

Treasury stock, 33,112,572 and 23,012,680 shares, respectively

�

Ìý

(635)

�

Ìý

(427)

Unearned stock-based compensation

�

Ìý

(17)

�

Ìý

(16)

Retained earnings

�

Ìý

690

�

Ìý

292

Accumulated other comprehensive loss

�

Ìý

(1,362)

�

Ìý

(1,316)

Total stockholders� equity

�

Ìý

2,687

�

Ìý

2,520

Total liabilities and stockholders� equity

�

$

3,093

�

$

2,912

�

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 DecemberÌý31,Ìý

�

�

2019

�

2018

�

2017

Selling, general and administrative expenses

ÌýÌýÌýÌý

$

(5)

ÌýÌýÌýÌý

$

(4)

ÌýÌýÌýÌý

$

(4)

Interest income

�

Ìý

15

�

Ìý

21

�

Ìý

16

Equity in income of subsidiaries

�

Ìý

401

�

Ìý

163

�

Ìý

501

Dividend income—affiliate

�

Ìý

148

�

Ìý

154

�

Ìý

120

Other income

�

�

3

�

�

3

�

�

3

Net income

�

$

562

�

$

337

�

$

636

�

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 DecemberÌý31,Ìý

�

�

2019

�

2018

�

2017

Net income

ÌýÌýÌýÌý

$

562

ÌýÌýÌýÌý

$

337

ÌýÌýÌýÌý

$

636

Other comprehensive income, net of tax:

Ìý

�

ÌýÌý

Ìý

�

ÌýÌý

Ìý

�

ÌýÌý

Foreign currency translations adjustments

Ìý

�

2

Ìý

�

(192)

Ìý

�

210

Pension and other postretirement benefits adjustments

Ìý

�

(37)

Ìý

�

(39)

Ìý

�

86

Other, net

Ìý

�

35

Ìý

�

304

Ìý

�

105

Other comprehensive income, net of tax

Ìý

�

�

Ìý

�

73

Ìý

�

401

Comprehensive income

Ìý

�

562

Ìý

�

410

Ìý

�

1,037

Comprehensive income attributable to noncontrolling interests

Ìý

�

(31)

Ìý

�

(266)

Ìý

�

(127)

Comprehensive income attributable to ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation

�

$

531

�

$

144

�

$

910

�

This statement should be read in conjunction with the notes to the consolidated financial statements.

�

�

HUNTSMAN CORPORATION (Parent Only)

STATEMENTS OF STOCKHOLDERS� EQUITY

(In Millions, Except Share Amounts)

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ÌýCorporationÌýStockholders’ÌýEquity

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(Accumulated

�

Accumulated

�

�

�

�

�

Shares

�

�

�

�

Additional

�

�

�

�

Unearned

�

deficit)

�

other

�

�

�

�

�

Common

�

Common

�

paid-in

�

Treasury

�

stock-based

�

retained

�

comprehensive

�

Total

�

ÌýÌýÌýÌý

stock

ÌýÌýÌýÌý

stock

ÌýÌýÌýÌý

capital

ÌýÌýÌýÌý

stock

ÌýÌýÌýÌý

compensation

ÌýÌýÌýÌý

earnings

ÌýÌýÌýÌý

loss

ÌýÌýÌýÌý

equity

Beginning balance, JanuaryÌý1, 2017

�

236,370,347

�

$

3

�

$

3,447

�

$

(150)

�

$

(17)

�

$

(325)

�

$

(1,671)

�

$

1,287

Net income

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

636

�

�

�

�

�

636

Other comprehensive income

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

403

�

�

403

Issuance of nonvested stockÌýawards

�

�

�

�

�

�

�

18

�

�

�

�

�

(18)

�

�

�

�

�

�

�

�

�

Vesting of stock awards

�

1,316,975

�

�

�

�

�

8

�

�

�

�

�

�

�

�

�

�

�

�

�

�

8

Recognition of stock-based compensation

�

�

�

�

�

�

�

10

�

�

�

�

�

18

�

�

�

�

�

�

�

�

28

Repurchase and cancellation of stock awards

�

(402,978)

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(12)

�

�

�

�

�

(12)

Stock options exercised

�

2,929,262

�

�

�

�

�

53

�

�

�

�

�

�

�

�

(18)

�

�

�

�

�

35

Disposition of a portion of Venator

�

�

�

�

�

�

�

413

�

�

�

�

�

�

�

�

�

�

�

�

�

�

413

Costs of the IPO and secondary offering of Venator

�

�

�

�

�

�

�

(58)

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(58)

Conversion of restricted awards to Venator awards

�

�

�

�

�

�

�

(2)

�

�

�

�

�

2

�

�

�

�

�

�

�

�

�

Dividends declared on common stock

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(120)

�

�

�

�

�

(120)

Balance, DecemberÌý31,Ìý2017

�

240,213,606

�

�

3

�

�

3,889

�

�

(150)

�

�

(15)

�

�

161

�

�

(1,268)

�

�

2,620

Cumulative effect of changes in fair value of equity investments

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

10

�

�

(10)

�

�

�

Net income

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

337

�

�

�

�

�

337

Other comprehensive loss

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(198)

�

�

(198)

Issuance of nonvested stock awards

�

�

�

�

�

�

�

14

�

�

�

�

�

(14)

�

�

�

�

�

�

�

�

�

Vesting of stock awards

�

1,135,003

�

�

�

�

�

11

�

�

�

�

�

�

�

�

�

�

�

�

�

�

11

Recognition of stock-based compensation

�

�

�

�

�

�

�

8

�

�

�

�

�

13

�

�

�

�

�

�

�

�

21

Repurchase and cancellation of stock awards

�

(259,643)

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(30)

�

�

�

�

�

(30)

Stock options exercised

�

2,310,663

�

�

�

�

�

46

�

�

�

�

�

�

�

�

(29)

�

�

�

�

�

17

Treasury stock repurchased

�

(10,405,457)

�

�

�

�

�

�

�

�

(277)

�

�

�

�

�

�

�

�

�

�

�

(277)

Disposition of a portion of Venator

�

�

Ìý

�

�

Ìý

�

18

Ìý

�

�

Ìý

�

�

Ìý

�

�

Ìý

�

�

Ìý

�

18

Costs of the secondary offering of Venator

�

�

Ìý

�

�

Ìý

�

(2)

Ìý

�

�

Ìý

�

�

Ìý

�

�

Ìý

�

�

Ìý

�

(2)

Deconsolidation of Venator

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

160

�

�

160

Accrued and unpaid dividends

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(1)

�

�

�

�

�

(1)

Dividends declared on common stock

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(156)

�

�

�

�

�

(156)

Balance, DecemberÌý31,Ìý2018

�

232,994,172

�

�

3

�

�

3,984

�

�

(427)

�

�

(16)

�

�

292

�

�

(1,316)

�

�

2,520

Net income

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

562

�

�

�

�

�

562

Other comprehensive loss

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(46)

�

�

(46)

Issuance of nonvested stock awards

�

�

�

�

�

�

�

17

�

�

�

�

�

(17)

�

�

�

�

�

�

�

�

�

Vesting of stock awards

�

1,643,368

�

�

�

�

�

7

�

�

�

�

�

�

�

�

�

�

�

�

�

�

7

Recognition of stock-based compensation

�

�

�

�

�

�

�

7

�

�

�

�

�

16

�

�

�

�

�

�

�

�

23

Repurchase and cancellation of stock awards

�

(488,441)

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(12)

�

�

�

�

�

(12)

Stock options exercised

�

246,661

�

�

�

�

�

4

�

�

�

�

�

�

�

�

(2)

�

�

�

�

�

2

Treasury stock repurchased

�

(10,099,892)

�

�

�

�

�

�

�

�

(208)

�

�

�

�

�

�

�

�

�

�

�

(208)

Acquisition of noncontrolling interests, net of tax

�

�

�

�

�

�

�

(11)

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(11)

Dividends declared on common stock

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(150)

�

�

�

�

�

(150)

Balance, DecemberÌý31,Ìý2019

Ìý

224,295,868

�

$

3

�

$

4,008

�

$

(635)

�

$

(17)

�

$

690

�

$

(1,362)

�

$

2,687

�

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 DecemberÌý31,Ìý

�

�

2019

�

2018

�

2017

Operating Activities:

ÌýÌýÌýÌý

�

ÌýÌý

ÌýÌýÌýÌý

�

ÌýÌý

ÌýÌýÌýÌý

�

ÌýÌý

Net income

�

$

562

�

$

337

�

$

636

Equity in income of subsidiaries

�

Ìý

(401)

�

Ìý

(163)

�

Ìý

(501)

Stock-based compensation

�

Ìý

1

�

Ìý

1

�

Ìý

1

Noncash interest income

�

Ìý

(15)

�

Ìý

(21)

�

Ìý

(16)

Changes in operating assets and liabilities

�

Ìý

13

�

Ìý

19

�

Ìý

10

Net cash provided by operating activities

�

Ìý

160

�

Ìý

173

�

Ìý

130

Investing Activities:

�

Ìý

ÌýÌý

�

Ìý

ÌýÌý

�

Ìý

ÌýÌý

Loan to affiliate

�

Ìý

�

�

Ìý

�

�

Ìý

(47)

Repayments of loan by affiliate

�

Ìý

207

�

Ìý

255

�

Ìý

�

Net cash provided by (used in) investing activities

�

Ìý

207

�

Ìý

255

�

Ìý

(47)

Financing Activities:

�

Ìý

ÌýÌý

�

Ìý

ÌýÌý

�

Ìý

ÌýÌý

Dividends paid to common stockholders

�

Ìý

(150)

�

Ìý

(156)

�

Ìý

(120)

Repurchase and cancellation of stock awards

�

Ìý

(12)

�

Ìý

(30)

�

Ìý

(12)

Proceeds from issuance of common stock

�

Ìý

2

�

Ìý

17

�

Ìý

35

Repurchase of common stock

�

Ìý

(208)

�

Ìý

(277)

�

Ìý

�

Increase in payable to affiliates

�

Ìý

1

�

Ìý

16

�

Ìý

15

Net cash used in financing activities

�

Ìý

(367)

�

Ìý

(430)

�

Ìý

(82)

(Decrease) increase in cash and cash equivalents

�

Ìý

�

�

Ìý

(2)

�

Ìý

1

Cash and cash equivalents at beginning of period

�

Ìý

�

�

Ìý

2

�

Ìý

1

Cash and cash equivalents at end of period

�

$

�

�

$

�

�

$

2

This statement should be read in conjunction with the notes to the consolidated financial statements.