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Note 11 - Employee Benefit Plans

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

11. EMPLOYEE BENEFIT PLANS 

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Components of the net periodic benefit cost (credit) from continuing operations for the three and nine months ended September 30, 2023 and 2022 were as follows (dollars in millions):

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Huntsman Corporation

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										Other postretirement
		Defined benefit plans								benefit plans
		Three months								Three months
		ended								ended
		September 30,								September 30,
		2023				2022				2023				2022
Service cost		$	6			$	11			$	1			$	1
Interest cost			24				13				—				—
Expected return on assets			(32	)			(37	)			—				—
Amortization of prior service benefit			(2	)			(2	)			(2	)			(1	)
Amortization of actuarial loss			9				12				—				—
Net periodic benefit cost (credit)		$	5			$	(3	)		$	(1	)		$	—

​ 

										Other postretirement
		Defined benefit plans								benefit plans
		Nine months								Nine months
		ended								ended
		September 30,								September 30,
		2023				2022				2023				2022
Service cost		$	19			$	34			$	1			$	1
Interest cost			70				41				2				1
Expected return on assets			(95	)			(113	)			—				—
Amortization of prior service benefit			(4	)			(4	)			(4	)			(3	)
Amortization of actuarial loss			25				36				—				1
Net periodic benefit cost (credit)		$	15			$	(6	)		$	(1	)		$	—

Huntsman International

​

										Other postretirement
		Defined benefit plans								benefit plans
		Three months								Three months
		ended								ended
		September 30,								September 30,
		2023				2022				2023				2022
Service cost		$	6			$	11			$	1			$	1
Interest cost			24				13				—				—
Expected return on assets			(32	)			(37	)			—				—
Amortization of prior service benefit			(2	)			(2	)			(2	)			(1	)
Amortization of actuarial loss			9				12				—				—
Net periodic benefit cost (credit)		$	5			$	(3	)		$	(1	)		$	—

​ 

										Other postretirement
		Defined benefit plans								benefit plans
		Nine months								Nine months
		ended								ended
		September 30,								September 30,
		2023				2022				2023				2022
Service cost		$	19			$	34			$	1			$	1
Interest cost			70				41				2				1
Expected return on assets			(95	)			(113	)			—				—
Amortization of prior service benefit			(4	)			(4	)			(4	)			(3	)
Amortization of actuarial loss			25				36				—				1
Net periodic benefit cost (credit)		$	15			$	(6	)		$	(1	)		$	—

During the nine months ended September 30, 2023 and 2022, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $41 million and $35 million, respectively. During the remainder of 2023, we expect to contribute an additional amount of approximately $9 million to these plans.

​ 

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