乐天堂fun88(中国区)官方网站

Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES

v3.20.2
VARIABLE INTEREST ENTITIES
6 Months Ended
Jun. 30, 2020
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES

6. VARIABLE INTEREST ENTITIES

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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:

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鈼� Rubicon听LLC is our 50%-owned joint venture with Lanxess that manufactures products for our Polyurethanes and Performance Products segments.

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鈼� Arabian Amines Company is our 50%-owned joint venture with Zamil group that manufactures products for our Performance Products segment.

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During the six months ended 2020, there were no changes in our variable interest entities.

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Sasol-乐天堂fun88(中国区)官方网站 was our 50%-owned joint venture with Sasol that owned and operated a maleic anhydride facility in Moers, Germany. On September 30, 2019, we acquired the 50% noncontrolling interest that we did not own in Sasol-乐天堂fun88(中国区)官方网站. As such, as of September 30, 2019, Sasol-乐天堂fun88(中国区)官方网站 was no longer accounted for as a variable interest entity.

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Creditors of these entities have no recourse to our general credit. See 鈥淣ote 8. Debt鈥擠irect and Subsidiary Debt.鈥� As the primary beneficiary of these variable interest June 30, 2020, the joint ventures鈥� assets, liabilities and results of operations are included in our condensed consolidated financial statements.

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The following table summarizes the carrying amount of our variable interest entities鈥� assets and liabilities included in our condensed consolidated balance sheet as of June 30, 2020 and our consolidated balance sheet as of December 31, 2019 (dollars in millions):

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

June听30,听

鈥�

December听31,听

鈥�

听听听听

2020

听听听听

2019

Current assets

鈥�

$

41

鈥�

$

50

Property, plant and equipment, net

鈥�

鈥�

173

鈥�

鈥�

180

Operating lease right-of-use assets

鈥�

鈥�

17

鈥�

鈥�

16

Other noncurrent assets

鈥�

鈥�

138

鈥�

鈥�

132

Deferred income taxes

鈥�

鈥�

30

鈥�

鈥�

30

Total assets

鈥�

$

399

鈥�

$

408

Current liabilities

鈥�

$

143

鈥�

$

151

Long-term debt

鈥�

鈥�

6

鈥�

鈥�

29

Noncurrent operating lease liabilities

鈥�

鈥�

13

鈥�

鈥�

11

Other noncurrent liabilities

鈥�

鈥�

83

鈥�

鈥�

87

Total liabilities

鈥�

$

245

鈥�

$

278

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The revenues, income from continuing operations before income taxes and net cash provided by operating activities for our variable interest entities for the three and six months ended June 30, 2020 and 2019 are as follows (dollars in millions):

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

鈥�

Three months

鈥�

Six months

鈥�

鈥�

ended

鈥�

ended

鈥�

鈥�

June听30,听

鈥�

June听30,听

鈥�

鈥�

2020(1)

听听听听

2019

鈥�

2020(1)

听听听听

2019

Revenues

鈥�

$

鈥�

鈥�

$

31

鈥�

$

鈥�

鈥�

$

67

Income from continuing operations before income taxes

鈥�

鈥�

鈥�

鈥�

鈥�

4

鈥�

鈥�

1

鈥�

鈥�

13

Net cash provided by operating activities

鈥�

鈥�

8

鈥�

鈥�

29

鈥�

鈥�

14

鈥�

鈥�

60

(1) As of September 30, 2019, Sasol-乐天堂fun88(中国区)官方网站 was no longer accounted for as a variable interest entity. Therefore, this financial data excludes information for Sasol-乐天堂fun88(中国区)官方网站.