Annual report pursuant to Section 13 and 15(d)

Schedule I - Condensed Financial Information of Registrant (Tables)

v3.22.4
Schedule I - Condensed Financial Information of Registrant (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Condensed Balance Sheet [Table Text Block]
   

December 31,

 
   

2022

   

2021

 

ASSETS

               

Cash and cash equivalents

  $ —     $ 2  

Prepaid assets

    —       2  

Receivable from affiliate

    —       2  

Total current assets

    —       6  

Investment in and advances to affiliates

    3,631       4,630  

Total assets

  $ 3,631     $ 4,636  

LIABILITIES AND STOCKHOLDERS’ EQUITY

               

Accounts payable

  $ —     $ 3  

Payable to affiliate

    —       242  

Accrued liabilities

    2       4  

Total current liabilities

    2       249  

Other noncurrent liabilities

    5       9  

Total liabilities

    7       258  

STOCKHOLDERS’ EQUITY

               

Common stock $0.01 par value, 1,200,000,000 shares authorized, 261,148,217 and 259,701,770 shares issued and 183,634,464 and 214,170,287 shares outstanding, respectively

    3       3  

Additional paid-in capital

    4,156       4,102  

Treasury stock, 77,513,753 and 45,531,489 shares, respectively

    (1,937 )     (934 )

Unearned stock-based compensation

    (35 )     (25 )

Retained earnings

    2,705       2,435  

Accumulated other comprehensive loss

    (1,268 )     (1,203 )

Total stockholders’ equity

    3,624       4,378  

Total liabilities and stockholders’ equity

  $ 3,631     $ 4,636  
Condensed Income Statement [Table Text Block]
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Selling, general and administrative expenses

  $ (4 )   $ (7 )   $ (6 )

Interest income

    —       —       2  

Equity in income of subsidiaries

    295       891       892  

Dividend income—affiliate

    169       158       144  

Other income

    —       3       2  

Net income

  $ 460     $ 1,045     $ 1,034  
Condensed Statement of Comprehensive Income [Table Text Block]
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Net income

  $ 460     $ 1,045     $ 1,034  

Other comprehensive (loss) income, net of tax:

                       

Foreign currency translations adjustments

    (228 )     (92 )     41  

Pension and other postretirement benefits adjustments

    158       240       (19 )

Other, net

    56       61       32  

Other comprehensive (loss) income, net of tax

    (14 )     209       54  

Comprehensive income

    446       1,254       1,088  

Comprehensive income attributable to noncontrolling interests

    (51 )     (66 )     (38 )

Comprehensive income attributable to Huntsman Corporation

  $ 395     $ 1,188     $ 1,050  
Condensed Statement of Stockholders' Equity [Table Text Block]
   

Huntsman Corporation Stockholders’ 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, 2020

    224,295,868     $ 3     $ 4,008     $ (635 )   $ (17 )   $ 690     $ (1,362 )   $ 2,687  

Net income

    —       —       —       —       —       1,034       —       1,034  

Other comprehensive income

    —       —       —       —       —       —       16       16  

Issuance of nonvested stock awards

    —       —       18       —       (18 )     —       —       —  

Vesting of stock awards

    960,406       —       5       —       —       —       —       5  

Recognition of stock-based compensation

    —       —       7       —       16       —       —       23  

Repurchase and cancellation of stock awards

    (287,247 )     —       —       —       —       (8 )     —       (8 )

Stock options exercised

    441,754       —       10       —       —       (7 )     —       3  

Treasury stock repurchased

    (5,364,519 )     —       —       (96 )     —       —       —       (96 )

Dividends declared on common stock

    —       —       —       —       —       (145 )     —       (145 )

Balance, December 31, 2020

    220,046,262       3       4,048       (731 )     (19 )     1,564       (1,346 )     3,519  

Net income

    —       —       —       —       —       1,045       —       1,045  

Other comprehensive income

    —       —       —       —       —       —       143       143  

Issuance of nonvested stock awards

    —       —       26       —       (26 )     —       —       —  

Vesting of stock awards

    678,400       —       5       —       —       —       —       5  

Recognition of stock-based compensation

    —       —       6       —       20       —       —       26  

Repurchase and cancellation of stock awards

    (238,339 )     —       —       —       —       (7 )     —       (7 )

Stock options exercised

    738,362       —       17       —       —       (7 )     —       10  

Treasury stock repurchased

    (7,054,398 )     —       —       (203 )     —       —       —       (203 )

Dividends declared on common stock

    —       —       —       —       —       (160 )     —       (160 )

Balance, December 31, 2021

    214,170,287       3       4,102       (934 )     (25 )     2,435       (1,203 )     4,378  

Net income

    —       —       —       —       —       460       —       460  

Other comprehensive loss

    —       —       —       —       —       —       (65 )     (65 )

Issuance of nonvested stock awards

    —       —       32       —       (32 )     —       —       —  

Vesting of stock awards

    1,341,787       —       7       —       —       —       —       7  

Recognition of stock-based compensation

    —       —       3       —       22       —       —       25  

Repurchase and cancellation of stock awards

    (366,199 )     —       —       —       —       (14 )     —       (14 )

Stock options exercised

    470,853       —       12       —       —       (6 )     —       6  

Treasury stock repurchased

    (31,982,264 )     —       —       (1,003 )     —       —       —       (1,003 )

Dividends declared on common stock

    —       —       —       —       —       (170 )     —       (170 )

Balance, December 31, 2022

    183,634,464     $ 3     $ 4,156     $ (1,937 )   $ (35 )   $ 2,705     $ (1,268 )   $ 3,624  
Condensed Cash Flow Statement [Table Text Block]
   

Year ended December 31,

 
   

2022

   

2021

   

2020

 

Operating activities:

                       

Net income

  $ 460     $ 1,045     $ 1,034  

Equity in income of subsidiaries

    (295 )     (891 )     (892 )

Stock-based compensation

    2       1       1  

Noncash interest income

    —       —       (2 )

Changes in operating assets and liabilities

    (2 )     (2 )     (1 )

Net cash provided by operating activities

    165       153       140  

Investing activities:

                       

Repayments of loan by affiliate

    —       —       380  

Net cash provided by investing activities

    —       —       380  

Financing activities:

                       

Dividends paid to common stockholders

    (171 )     (159 )     (144 )

Repurchase and cancellation of stock awards

    (14 )     (7 )     (8 )

Proceeds from issuance of common stock

    6       10       3  

Repurchase of common stock

    (1,005 )     (200 )     (96 )

Increase (decrease) in payable to affiliates

    1,017       203       (273 )

Net cash used in financing activities

    (167 )     (153 )     (518 )

(Decrease) increase in cash and cash equivalents

    (2 )     —       2  

Cash and cash equivalents at beginning of period

    2       2       —  

Cash and cash equivalents at end of period

  $ —     $ 2     $ 2