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.
|