2013 Q4 Form 10-Q Financial Statement

#000104746913010033 Filed on October 29, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $2.705B $2.842B $2.741B
YoY Change 3.28% 3.68% -7.9%
Cost Of Revenue $2.259B $2.335B $2.204B
YoY Change 2.73% 5.94% -11.34%
Gross Profit $446.0M $507.0M $537.0M
YoY Change 6.19% -5.59% 9.59%
Gross Profit Margin 16.49% 17.84% 19.59%
Selling, General & Admin $245.0M $238.0M $220.0M
YoY Change -11.87% 8.18% 1.38%
% of Gross Profit 54.93% 46.94% 40.97%
Research & Development $35.00M $35.00M $35.00M
YoY Change -12.5% 0.0% -16.67%
% of Gross Profit 7.85% 6.9% 6.52%
Depreciation & Amortization $122.0M $110.0M $108.0M
YoY Change 12.96% 1.85% -4.42%
% of Gross Profit 27.35% 21.7% 20.11%
Operating Expenses $284.0M $309.0M $302.0M
YoY Change -6.89% 2.32% -26.88%
Operating Profit $162.0M $198.0M $235.0M
YoY Change 40.87% -15.74% 205.19%
Interest Expense -$42.00M -$45.00M -$54.00M
YoY Change -19.23% -16.67% -11.48%
% of Operating Profit -25.93% -22.73% -22.98%
Other Income/Expense, Net $0.00 $0.00 $1.000M
YoY Change -100.0% -100.0% -200.0%
Pretax Income $63.00M $153.0M $181.0M
YoY Change -212.5% -15.47% 1292.31%
Income Tax $20.00M $81.00M $61.00M
% Of Pretax Income 31.75% 52.94% 33.7%
Net Earnings $41.00M $64.00M $116.0M
YoY Change -202.5% -44.83% -441.18%
Net Earnings / Revenue 1.52% 2.25% 4.23%
Basic Earnings Per Share $0.17 $0.27 $0.49
Diluted Earnings Per Share $0.17 $0.26 $0.48
COMMON SHARES
Basic Shares Outstanding 241.4M shares 239.8M shares 237.9M shares
Diluted Shares Outstanding 242.5M shares 240.8M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $520.0M $397.0M $435.0M
YoY Change 34.37% -8.74% -3.97%
Cash & Equivalents $520.0M $397.0M $435.0M
Short-Term Investments
Other Short-Term Assets $200.0M $205.0M $234.0M
YoY Change -9.91% -12.39% -19.86%
Inventory $1.741B $1.695B $1.807B
Prepaid Expenses $61.00M $66.00M $64.00M
Receivables $1.542B $1.674B $1.626B
Other Receivables $33.00M $29.00M $27.00M
Total Short-Term Assets $4.159B $4.126B $4.242B
YoY Change 0.97% -2.73% -0.75%
LONG-TERM ASSETS
Property, Plant & Equipment $3.824B $3.745B $3.626B
YoY Change 2.11% 3.28% -0.9%
Goodwill $131.0M $131.0M $107.0M
YoY Change 11.97% 22.43%
Intangibles $87.00M $55.00M $74.00M
YoY Change 27.94% -25.68% -25.25%
Long-Term Investments $277.0M $274.0M $223.0M
YoY Change 20.43% 22.87% 8.25%
Other Assets $459.0M $451.0M $482.0M
YoY Change 25.41% -6.43% 2.77%
Total Long-Term Assets $5.029B $4.895B $4.704B
YoY Change 5.54% 4.06% -0.63%
TOTAL ASSETS
Total Short-Term Assets $4.159B $4.126B $4.242B
Total Long-Term Assets $5.029B $4.895B $4.704B
Total Assets $9.188B $9.021B $8.946B
YoY Change 3.42% 0.84% -0.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.067B $1.034B $1.017B
YoY Change -3.18% 1.67% 8.08%
Accrued Expenses $726.0M $689.0M $690.0M
YoY Change 2.98% -0.14% -5.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $277.0M $295.0M $130.0M
YoY Change -3.82% 126.92% -43.48%
Total Short-Term Liabilities $2.159B $2.097B $1.905B
YoY Change -1.01% 10.08% -2.71%
LONG-TERM LIABILITIES
Long-Term Debt $3.633B $3.574B $3.550B
YoY Change 6.41% 0.68% -7.72%
Other Long-Term Liabilities $948.0M $1.115B $910.0M
YoY Change -18.35% 22.53% -3.29%
Total Long-Term Liabilities $4.581B $4.689B $4.460B
YoY Change 0.13% 5.13% -6.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.159B $2.097B $1.905B
Total Long-Term Liabilities $4.581B $4.689B $4.460B
Total Liabilities $7.059B $7.058B $6.730B
YoY Change 1.02% 4.87% -6.63%
SHAREHOLDERS EQUITY
Retained Earnings -$687.0M -$698.0M -$623.0M
YoY Change 0.0% 12.04%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $50.00M $50.00M $50.00M
YoY Change 0.0% 0.0%
Treasury Stock Shares 4.044M shares 4.044M shares 4.044M shares
Shareholders Equity $1.980B $1.821B $2.092B
YoY Change
Total Liabilities & Shareholders Equity $9.188B $9.021B $8.946B
YoY Change 3.42% 0.84% -0.69%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $41.00M $64.00M $116.0M
YoY Change -202.5% -44.83% -441.18%
Depreciation, Depletion And Amortization $122.0M $110.0M $108.0M
YoY Change 12.96% 1.85% -4.42%
Cash From Operating Activities $320.0M $390.0M $208.0M
YoY Change 46.79% 87.5% 766.67%
INVESTING ACTIVITIES
Capital Expenditures -$175.0M -$115.0M -$85.00M
YoY Change 6.71% 35.29% -8.6%
Acquisitions
YoY Change
Other Investing Activities -$3.000M -$91.00M -$29.00M
YoY Change -62.5% 213.79% -825.0%
Cash From Investing Activities -$178.0M -$206.0M -$114.0M
YoY Change 3.49% 80.7% 28.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.00M 39.00M -114.0M
YoY Change -81.05% -134.21% -27.39%
NET CHANGE
Cash From Operating Activities 320.0M 390.0M 208.0M
Cash From Investing Activities -178.0M -206.0M -114.0M
Cash From Financing Activities -18.00M 39.00M -114.0M
Net Change In Cash 124.0M 223.0M -20.00M
YoY Change -353.06% -1215.0% -90.99%
FREE CASH FLOW
Cash From Operating Activities $320.0M $390.0M $208.0M
Capital Expenditures -$175.0M -$115.0M -$85.00M
Free Cash Flow $495.0M $505.0M $293.0M
YoY Change 29.58% 72.35% 150.43%

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Large Accelerated Filer
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
241438911 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2012Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2012Q4 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
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CY2012Q4 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
2000000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
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366000000 USD
CY2012Q4 us-gaap Assets
Assets
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CY2012Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1102000000 USD
CY2012Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
48000000 USD
CY2012Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
705000000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
38000000 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2181000000 USD
CY2012Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
49000000 USD
CY2012Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
48000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Liabilities Net Current
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51000000 USD
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
222000000 USD
CY2012Q4 us-gaap Assets Current
AssetsCurrent
4119000000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
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3745000000 USD
CY2012Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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238000000 USD
CY2012Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
68000000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
117000000 USD
CY2012Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
229000000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
228000000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
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1161000000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
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CY2013Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
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CY2012Q4 us-gaap Common Stock Value
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CY2012Q4 us-gaap Additional Paid In Capital
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CY2012Q4 us-gaap Treasury Stock Value
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CY2012Q4 us-gaap Deferred Compensation Equity
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CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2012Q4 us-gaap Stockholders Equity
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CY2012Q4 us-gaap Minority Interest
MinorityInterest
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CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1896000000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2013Q3 us-gaap Sales Revenue Net
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CY2013Q3 us-gaap Revenue From Related Parties
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CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
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CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
397000000 USD
CY2013Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
9000000 USD
CY2013Q3 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
1674000000 USD
CY2013Q3 us-gaap Due From Related Parties Current
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29000000 USD
CY2013Q3 us-gaap Prepaid Expense Current
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66000000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
51000000 USD
CY2013Q3 us-gaap Other Assets Current
OtherAssetsCurrent
205000000 USD
CY2013Q3 us-gaap Assets Current
AssetsCurrent
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CY2013Q3 us-gaap Property Plant And Equipment Net
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3745000000 USD
CY2013Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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274000000 USD
CY2013Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2013Q3 us-gaap Goodwill
Goodwill
131000000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
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238000000 USD
CY2013Q3 us-gaap Notes Receivable Related Parties Noncurrent
NotesReceivableRelatedPartiesNoncurrent
1000000 USD
CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
451000000 USD
CY2013Q3 us-gaap Assets
Assets
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CY2013Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
1034000000 USD
CY2013Q3 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
41000000 USD
CY2013Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
689000000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
38000000 USD
CY2013Q3 us-gaap Liabilities Current
LiabilitiesCurrent
2097000000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
267000000 USD
CY2013Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1115000000 USD
CY2013Q3 us-gaap Liabilities
Liabilities
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CY2013Q3 us-gaap Common Stock Value
CommonStockValue
2000000 USD
CY2013Q3 us-gaap Additional Paid In Capital
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CY2013Q3 us-gaap Treasury Stock Value
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CY2013Q3 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
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CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2013Q3 us-gaap Stockholders Equity
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CY2013Q3 us-gaap Gross Profit
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CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2013Q3 us-gaap Minority Interest
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CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2013Q3 us-gaap Liabilities And Stockholders Equity
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hun Defined Benefit Plan Liability Reduce Due To Plan Change
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CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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47000000 USD
CY2012Q4 us-gaap Pledged Assets Not Separately Reported Finance Receivables
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520000000 USD
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1200000000 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
243813779 shares
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
238273422 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4043526 shares
CY2013Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
43000000 USD
CY2013Q3 us-gaap Pledged Assets Not Separately Reported Finance Receivables
PledgedAssetsNotSeparatelyReportedFinanceReceivables
594000000 USD
CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1200000000 shares
CY2013Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
245423677 shares
CY2013Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
239890799 shares
CY2013Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
4043526 shares
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2691000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
8198000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
8406000000 USD
CY2012Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
50000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
176000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
162000000 USD
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2204000000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
7067000000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
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CY2012Q3 us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
GrossProfit
1307000000 USD
us-gaap Gross Profit
GrossProfit
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CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
238000000 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
220000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
697000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
673000000 USD
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35000000 USD
CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
105000000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.375
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
112000000 USD
CY2013Q3 hun Other Operating Income Expense
OtherOperatingIncomeExpense
1000000 USD
hun Other Operating Income Expense
OtherOperatingIncomeExpense
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CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
309000000 USD
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
302000000 USD
us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
844000000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
198000000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
235000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
389000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
770000000 USD
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5000000 USD
CY2012Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000000 USD
CY2013Q3 hun Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
153000000 USD
CY2012Q3 hun Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
181000000 USD
hun Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
216000000 USD
hun Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
603000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
72000000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
120000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
111000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
417000000 USD
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2012Q3 us-gaap Extraordinary Item Gain Or Loss Net Of Tax Attributable To Reporting Entity
ExtraordinaryItemGainOrLossNetOfTaxAttributableToReportingEntity
1000000 USD
us-gaap Extraordinary Item Gain Or Loss Net Of Tax Attributable To Reporting Entity
ExtraordinaryItemGainOrLossNetOfTaxAttributableToReportingEntity
1000000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
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CY2012Q3 us-gaap Profit Loss
ProfitLoss
120000000 USD
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
411000000 USD
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
20000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
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CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
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CY2013Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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us-gaap Repayments Of Short Term Debt
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Paid In Kind Interest
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us-gaap Paid In Kind Interest
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts And Notes Receivable
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146000000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
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102000000 USD
us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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252000000 USD
us-gaap Increase Decrease In Prepaid Expense
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16000000 USD
us-gaap Increase Decrease In Prepaid Expense
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17000000 USD
us-gaap Increase Decrease In Other Current Assets
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us-gaap Increase Decrease In Other Current Assets
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us-gaap Increase Decrease In Other Noncurrent Assets
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108000000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
8000000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
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122000000 USD
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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15000000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
30000000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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388000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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248000000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
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us-gaap Proceeds From Contributions From Affiliates
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48000000 USD
us-gaap Proceeds From Contributions From Affiliates
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
66000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
18000000 USD
us-gaap Increase Decrease In Restricted Cash
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2000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Repayments Of Bank Overdrafts
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us-gaap Proceeds From Repayments Of Bank Overdrafts
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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572000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Repayments Of Notes Payable
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us-gaap Repayments Of Notes Payable
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us-gaap Proceeds From Notes Payable
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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hun Payments Of Call Premiums Related To Early Extinguishment Of Debt
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hun Payments Of Call Premiums Related To Early Extinguishment Of Debt
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us-gaap Payments Of Dividends Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Interest Paid
InterestPaid
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us-gaap Interest Paid
InterestPaid
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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<div style="font-size:10.0pt;font-family:Times New Roman;FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;"> <p style="FONT-FAMILY: times;"><font size="2"><b>1. GENERAL</b></font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>CERTAIN DEFINITIONS</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For convenience in this report, the terms "Company," "our," "us" or "we" may be used to refer to Huntsman Corporation and, unless the context otherwise requires, its subsidiaries and predecessors. In this report, "Huntsman International" refers to Huntsman International&#160;LLC (our 100% owned subsidiary) and, unless the context otherwise requires, its subsidiaries.</font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In this report, we may use, without definition, the common names of competitors or other industry participants. We may also use the common names or abbreviations for certain chemicals or products.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>INTERIM FINANCIAL STATEMENTS</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our interim condensed consolidated financial statements (unaudited) and Huntsman International's interim condensed consolidated financial statements (unaudited) were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP" or "U.S.&#160;GAAP") and in management's opinion reflect all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of results of operations, comprehensive income, financial position and cash flows for the periods presented. Results for interim periods are not necessarily indicative of those to be expected for the full year. These condensed consolidated financial statements (unaudited) should be read in conjunction with the audited consolidated financial statements and notes to consolidated financial statements included in the Annual Report on Form&#160;10-K for the year ended December&#160;31, 2012 for our Company and Huntsman International.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>DESCRIPTION OF BUSINESS</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We are a global manufacturer of differentiated organic chemical products and of inorganic chemical products. Our products comprise a broad range of chemicals and formulations, which we market globally to a diversified group of consumer and industrial customers. Our products are used in a wide range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, durable and non-durable consumer products, electronics, medical, packaging, paints and coatings, power generation, refining, synthetic fiber, textile chemicals and dye industries. We are a leading global producer in many of our key product lines, including MDI, amines, surfactants, maleic anhydride, epoxy-based polymer formulations, textile chemicals, dyes and titanium dioxide.</font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We operate in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects and Pigments. Our Polyurethanes, Performance Products, Advanced Materials and Textile Effects segments produce differentiated organic chemical products and our Pigments segment produces inorganic chemical products. In a series of transactions beginning in 2006, we sold or shutdown substantially all of our Australian styrenics operations and our North American polymers and base chemicals operations. We report the results of these businesses as discontinued operations.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>COMPANY</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our Company, a Delaware corporation, was formed in 2004 to hold the Huntsman businesses. Jon&#160;M.&#160;Huntsman founded the predecessor to our Company in 1970 as a small packaging company. Since then, we have grown through a series of acquisitions and now own a global portfolio of businesses.</font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We operate all of our businesses through Huntsman International, our 100% owned subsidiary. Huntsman International is a Delaware limited liability company.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>HUNTSMAN CORPORATION AND HUNTSMAN INTERNATIONAL FINANCIAL STATEMENTS</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except where otherwise indicated, these notes relate to the condensed consolidated financial statements (unaudited) for both our Company and Huntsman International. The differences between our financial statements and Huntsman International's financial statements relate primarily to the following:</font></p> <ul> <li style="LIST-STYLE-TYPE: none;"> <dl compact="compact"> <dt style="FONT-FAMILY: times; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: times;"><font size="2">purchase accounting recorded at our Company for the 2003 step-acquisition of Huntsman International Holdings&#160;LLC, the former parent company of Huntsman International that was merged into Huntsman International in 2005;</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: times; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: times;"><font size="2">the different capital structures; and</font> <font size="2"><br /> <br /></font></dd> <dt style="FONT-FAMILY: times; MARGIN-BOTTOM: -11pt;"><font size="2">&#8226;</font></dt> <dd style="FONT-FAMILY: times;"><font size="2">a note payable from Huntsman International to us.</font></dd></dl></li></ul> <p style="FONT-FAMILY: times;"><font size="2"><b>PRINCIPLES OF CONSOLIDATION</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our condensed consolidated financial statements (unaudited) include the accounts of our wholly-owned and majority-owned subsidiaries and any variable interest entities for which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated, except for intercompany sales between continuing and discontinued operations.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>USE OF ESTIMATES</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style="FONT-FAMILY: times;"><font size="2"><b>RECENT DEVELOPMENTS</b></font></p> <p style="FONT-FAMILY: times;"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On September&#160;17, 2013, we entered into a definitive agreement to acquire the Performance Additives and Titanium Dioxide businesses of Rockwood Holdings,&#160;Inc. The transaction remains subject to regulatory approvals and customary closing conditions and is expected to close during the first half of 2014. For more information, see "Note&#160;3. Business Combinations&#8212;Performance Additives and Titanium Dioxide Acquisition."</font></p></div>
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