Quarterly report [Sections 13 or 15(d)]

Note 20 - Operating Segment Information - Financial Information By Segment (Details)

v3.26.3
Note 20 - Operating Segment Information - Financial Information By Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Jun. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues $ 1,717 [1]     $ 1,460     $ 4,800 [1] $ 4,328
Variable direct costs [2] 1,189     974     3,255 2,878
Adjusted fixed costs [3] 376     379     1,145 1,143
Other segment items [4] (7)     (7)     (14) (7)
Segment adjusted EBITDA 168 [5]     121 [6]     445 [5] 337 [5]
Interest expense, net (23)     (20)     (67) (60)
Depreciation and amortization (77)     (73)     (227) (214)
Corporate and other costs, net [7] (36)     (27)     (120) (97)
Net income attributable to noncontrolling interests 13     14     38 43
Certain legal and other settlements and related expenses, net (4)           (15) 32 [8]
Expenses associated with the proposed merger (3)           (8)  
Amortization of pension and postretirement actuarial losses (7)     (8)     (21) (22)
Restructuring, impairment and plant closing and transition costs (5) [9]     (12) [10]     (23) [9] (141) [9]
Income from continuing operations before income taxes 26     (7)     23 (119)
Income tax expense—continuing operations (28)     (3)     (56) (25)
Loss from discontinued operations, net of tax (3)     (1)     (6) (1)
Net loss (5) $ 7 $ (41) (11) $ (145) $ 11 (39) (145)
Loss on sale of business/assets, net       (2)       (2)
Gain on sale of business/assets, net (0)     (0)     22 [11] (0)
Extinguishment of Debt, Gain (Loss), Net of Tax             (1)  
Business acquisition and integration gain and purchase accounting inventory adjustments, net               5
Certain legal and other settlements and related expenses, net 4           15 (32) [8]
Huntsman International LLC [Member]                
Revenues 1,717     1,460     4,800 4,328
Variable direct costs [2] 1,189     974     3,255 2,878
Adjusted fixed costs [3] 376     379     1,145 1,143
Other segment items [4] (7)     (7)     (14) (7)
Segment adjusted EBITDA [5] 168     121     445 337
Interest expense, net (23)     (20)     (67) (60)
Depreciation and amortization (77)     (73)     (227) (214)
Corporate and other costs, net [7] (35)     (26)     (117) (94)
Net income attributable to noncontrolling interests 13     14     38 43
Certain legal and other settlements and related expenses, net (4)           15 32 [8]
Expenses associated with the proposed merger (3)           (8)  
Amortization of pension and postretirement actuarial losses (7)     (8)     (21) (22)
Restructuring, impairment and plant closing and transition costs (5) [9]     (12) [9]     (23) [12] (141) [9]
Income from continuing operations before income taxes 27     (6)     26 (116)
Income tax expense—continuing operations (31)     (4)     (59) (26)
Loss from discontinued operations, net of tax (3)     (1)     (6) (1)
Net loss (7) $ 7 $ (39) (11) $ (143) $ 11 (39) (143)
Loss on sale of business/assets, net       (2)       (2)
Gain on sale of business/assets, net (0)     (0)     22 [11] (0)
Extinguishment of Debt, Gain (Loss), Net of Tax             (1)  
Business acquisition and integration gain and purchase accounting inventory adjustments, net               5
Certain legal and other settlements and related expenses, net 4           (15) (32) [8]
Operating Segments [Member]                
Revenues [13] 1,726     1,467     4,831 4,351
Depreciation and amortization             (219) (206)
Operating Segments [Member] | Huntsman International LLC [Member]                
Revenues [13] 1,726     1,467     4,831 4,351
Operating Segments [Member] | Polyurethanes [Member]                
Revenues [13] 1,152 [1]     956     3,154 [1] 2,800
Variable direct costs [2] 892     710     2,400 2,092
Adjusted fixed costs [3] 184     196     572 580
Other segment items [4] 1     2     2 7
Segment adjusted EBITDA 75 [5]     48 [6]     180 [5] 121 [5]
Depreciation and amortization             (130) (121)
Operating Segments [Member] | Polyurethanes [Member] | Huntsman International LLC [Member]                
Revenues [13] 1,152     956     3,154 2,800
Variable direct costs [2] 892     710     2,400 2,092
Adjusted fixed costs [3] 184     196     572 580
Other segment items [4] 1     2     2 7
Segment adjusted EBITDA [5] 75     48     180 121
Operating Segments [Member] | Performance Products [Member]                
Revenues [13] 260 [1]     246     771 [1] 773
Variable direct costs [2] 149     141     433 424
Adjusted fixed costs [3] 84     81     249 260
Other segment items [4] (4)     (5)     (5) (2)
Segment adjusted EBITDA 31 [5]     29 [6]     94 [5] 91 [5]
Depreciation and amortization             (51) (47)
Operating Segments [Member] | Performance Products [Member] | Huntsman International LLC [Member]                
Revenues [13] 260     246     771 773
Variable direct costs [2] 149     141     433 424
Adjusted fixed costs [3] 84     81     249 260
Other segment items [4] (4)     (5)     (5) (2)
Segment adjusted EBITDA [5] 31     29     94 91
Operating Segments [Member] | Advanced Materials [Member]                
Revenues [13] 314 [1]     265     906 [1] 778
Variable direct costs [2] 148     123     422 362
Adjusted fixed costs [3] 108     102     324 303
Other segment items [4] (4)     (4)     (11) (12)
Segment adjusted EBITDA 62 [5]     44 [6]     171 [5] 125 [5]
Depreciation and amortization             (38) (38)
Operating Segments [Member] | Advanced Materials [Member] | Huntsman International LLC [Member]                
Revenues [13] 314     265     906 778
Variable direct costs [2] 148     123     422 362
Adjusted fixed costs [3] 108     102     324 303
Other segment items [4] (4)     (4)     (11) (12)
Segment adjusted EBITDA [5] $ 62     $ 44     $ 171 $ 125
[1] Geographic information for revenues is based upon countries into which product is sold.
[2] Variable direct costs primarily include raw materials, utilities and freight-related costs.
[3] Adjusted fixed costs primarily include personnel and maintenance costs at our manufacturing facilities, selling, general and administrative expenses and research and development expenses, less depreciation and amortization and an adjustment to remove the related effects of restructuring, impairment and plant closing and transition costs.
[4] Other segment items include other operating and non-operating income and expense items and foreign currency exchange effects, less adjustments to remove the related effects of primarily the following items: certain legal and other settlements and related (expenses) income, net; gain on sale of business/assets, net; amortization of pension and postretirement actuarial losses; restructuring, impairment and plant closing and transition costs; and business acquisition and integration gain (expenses) and purchase accounting inventory adjustments, net.
[5] We use segment adjusted EBITDA as the measure of each segment’s profit or loss. Segment adjusted EBITDA is the measure that our chief operating decision maker (“CODM”), who has been determined to be our Chief Executive Officer, uses to make decisions about resources to be allocated to the segments and assess their financial performance. Our CODM evaluates segment adjusted EBITDA through the annual budget process as well as through ongoing periodic reviews of forecasts, budget-to-actual variances, changes from prior periods and when comparing the results of each reportable operating segment with one another. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) certain legal and other settlements and related (expenses) income, net; (b) gain on sale of business/assets, net; (c) expenses associated with the proposed merger; (d) amortization of pension and postretirement actuarial losses; (e) restructuring, impairment, plant closing and transition costs; (f) loss from discontinued operations, net of tax; (g) loss on early extinguishment of debt; and (h) business acquisition and integration gain and purchase accounting inventory adjustments, net.
[6] We use segment adjusted EBITDA as the measure of each segment’s profit or loss. Segment adjusted EBITDA is the measure that our chief operating decision maker (“CODM”), who has been determined to be our Chief Executive Officer, uses to make decisions about resources to be allocated to the segments and assess their financial performance. Our CODM evaluates segment adjusted EBITDA through the annual budget process as well as through ongoing periodic reviews of forecasts, budget-to-actual variances, changes from prior periods and when comparing the results of each reportable operating segment with one another. Segment adjusted EBITDA is defined as net income of Huntsman Corporation or Huntsman International, as appropriate, before interest, income tax, depreciation and amortization, net income attributable to noncontrolling interests and certain Corporate and other items, as well as eliminating the following adjustments: (a) certain legal and other settlements and related (expenses) income, net; (b) gain on sale of business/assets, net; (c) expenses associated with the proposed merger; (d) amortization of pension and postretirement actuarial losses; (e) restructuring, impairment, plant closing and transition costs; (f) loss from discontinued operations, net of tax; (g) loss on early extinguishment of debt; and (h) business acquisition and integration gain and purchase accounting inventory adjustments, net.
[7] Corporate and other costs, net includes unallocated corporate overhead, unallocated foreign exchange gains and losses, LIFO inventory valuation reserve adjustments, nonoperating income and expense and gains and losses on the disposition of corporate assets.
[8] Certain legal and other settlements and related income, net includes approximately $33 million for income associated with a litigation matter during the first quarter of 2025. See “Note 15. Commitments and Contingencies—Legal Matters.”
[9] Includes costs associated with transition activities relating primarily to our program to realign our cost structure in Europe.
[10] Includes costs associated with transition activities relating primarily to our program to realign our cost structure in Europe.
[11] Gain on sale of business/assets, net includes $22 million related to the gain on sale of our Gomet business. See “Note 1. General—Recent Developments—Sale of Huntsman Gomet Business.”
[12] Includes costs associated with transition activities relating primarily to our program to realign our cost structure in Europe
[13] A reconciliation of total reportable segments’ revenues to total consolidated revenues is provided in “Note 11. Revenue Recognition.”