Huntsman CORP
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD
ENDED March 31, 2024
TABLE OF CONTENTS
| | | Page |
|---|---|---|
| PART I | FINANCIAL INFORMATION | 4 |
| ITEM 1. | Condensed Consolidated Financial Statements (Unaudited) | 4 |
| | Huntsman Corporation and Subsidiaries: | |
| | Unaudited Condensed Consolidated Balance Sheets | 4 |
| | Unaudited Condensed Consolidated Statements of Operations | 5 |
| | Unaudited Condensed Consolidated Statements of Comprehensive (Loss) Income | 6 |
| | Unaudited Condensed Consolidated Statements of Equity | 7 |
| | Unaudited Condensed Consolidated Statements of Cash Flows | 8 |
| | Huntsman International LLC and Subsidiaries: | |
| | Unaudited Condensed Consolidated Balance Sheets | 9 |
| | Unaudited Condensed Consolidated Statements of Operations | 10 |
| | Unaudited Condensed Consolidated Statements of Comprehensive (Loss) Income | 11 |
| | Unaudited Condensed Consolidated Statements of Equity | 12 |
| | Unaudited Condensed Consolidated Statements of Cash Flows | 13 |
| | Huntsman Corporation and Subsidiaries and Huntsman International LLC and Subsidiaries: | |
| | Notes to Unaudited Condensed Consolidated Financial Statements | 14 |
| ITEM 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 34 |
| ITEM 3. | Quantitative and Qualitative Disclosures About Market Risk | 46 |
| ITEM 4. | Controls and Procedures | 46 |
| PART II | OTHER INFORMATION | 47 |
| ITEM 1. | Legal Proceedings | 47 |
| ITEM 1A. | Risk Factors | 47 |
| ITEM 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 47 |
| ITEM 6. | Exhibits | 48 |
FORWARD-LOOKING STATEMENTS
Certain information set forth in this report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding: projections of revenue, expenses, profit, profit margins, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, our liquidity position or other projected financial measures; management’s plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions, divestitures, spin-offs or other distributions, strategic opportunities, financing activities, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets we sell into; new or modified laws, regulations and accounting pronouncements; outstanding claims, legal proceedings, or the potential outcomes thereof, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that we intend or believe will or may occur in the future. In some cases, forward-looking statements can be identified by terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates” or “intends” or the negative of such terms or other comparable terminology, or by discussions of strategy. We may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by us or on our behalf, are also expressly qualified by these cautionary statements.
All forward-looking statements, including without limitation any projections derived from management’s examination of historical operating trends, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them, but there can be no assurance that management’s expectations, beliefs and projections will be achieved. All forward-looking statements apply only as of the date made. We undertake no obligation to publicly update or revise forward-looking statements whether because of new information, future events or otherwise, except as required by securities and other applicable law.
There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in or contemplated by this report. Any forward-looking statements should be considered in light of the risks set forth in “Part II. Item 1A. Risk Factors” below and “Part I. Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023.
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