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Note 20 - Operating Segment Information | 6 Months Ended
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Jun. 30, 2026
Notes to Financial Statements |
Segment Reporting [Text Block] | 20. OPERATING SEGMENT INFORMATION ​ We derive our revenues, earnings and cash flows from the manufacture and sale of a wide variety of diversified organic chemical products. We have three operating segments, which are also our reportable operating segments: Polyurethanes, Performance Products and Advanced Materials. We have organized our business and derived our operating segments around differences in product lines. The major products of each reportable operating segment are as follows: ​
Segment |  | Products
Polyurethanes | ​ | MDI, polyols, TPU and other polyurethane-related products
Performance Products | ​ | Performance amines, ethyleneamines and maleic anhydride
Advanced Materials | ​ | Technologically-advanced epoxy, phenoxy, acrylic, polyurethane and acrylonitrile-butadiene-based polymer formulations; high performance thermoset resins, curing agents, toughening agents, and carbon nanomaterials
Sales between segments are generally recognized at external market prices and are eliminated in consolidation. We use adjusted EBITDA to measure the financial performance of our global business units and for reporting the results of our operating segments. This measure includes all operating items relating to the businesses. The adjusted EBITDA of operating segments excludes items that principally apply to our Company as a whole. The following schedules include revenues, significant segment expenses and adjusted EBITDA for each of our reportable operating segments (dollars in millions). Huntsman Corporation
|  | Three months ended June 30, 2026 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 1,079 |  |  | $ | 283 |  |  | $ | 313 |  |  | $ | 1,675 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 810 |  |  |  | 158 |  |  |  | 143 |  |  |  | 1,111 |
Adjusted fixed costs(3) |  |  | 203 |  |  |  | 88 |  |  |  | 108 |  |  |  | 399 |
Other segment items(4) |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (2 | )
Total reportable segments’ adjusted EBITDA(5) |  | $ | 66 |  |  | $ | 37 |  |  | $ | 64 |  |  |  | 167 |
Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (77 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (47 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certain legal and other settlements and related expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Gain on sale of business/assets, net(7) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |
Expenses associated with the proposed merger |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5 | )
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10 | )
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26 |
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17 | )
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7 |
|  | Three months ended June 30, 2025 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 932 |  |  | $ | 270 |  |  | $ | 264 |  |  | $ | 1,466 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 700 |  |  |  | 146 |  |  |  | 123 |  |  |  | 969 |
Adjusted fixed costs(3) |  |  | 198 |  |  |  | 95 |  |  |  | 100 |  |  |  | 393 |
Other segment items(4) |  |  | 3 |  |  |  | (3 | ) |  |  | (4 | ) |  |  | (4 | )
Total reportable segments’ adjusted EBITDA(5) |  | $ | 31 |  |  | $ | 32 |  |  | $ | 45 |  |  |  | 108 |
Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (21 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (72 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (34 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certain legal and other settlements and related expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1 | )
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (125 | )
Loss from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (139 | )
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (145 | )
|  | Six months ended June 30, 2026 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 2,002 |  |  | $ | 511 |  |  | $ | 592 |  |  | $ | 3,105 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 1,508 |  |  |  | 284 |  |  |  | 274 |  |  |  | 2,066 |
Adjusted fixed costs(3) |  |  | 388 |  |  |  | 165 |  |  |  | 216 |  |  |  | 769 |
Other segment items(4) |  |  | 1 |  |  |  | (1 | ) |  |  | (7 | ) |  |  | (7 | )
Total reportable segments’ adjusted EBITDA(5) |  | $ | 105 |  |  | $ | 63 |  |  | $ | 109 |  |  |  | 277 |
Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (44 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (150 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (84 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certain legal and other settlements and related income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11 | )
Gain on sale of business/assets, net(7) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |
Expenses associated with the proposed merger |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5 | )
Loss on early extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1 | )
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (18 | )
Loss from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3 | )
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (28 | )
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3 | )
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (34 | )
|  | Six months ended June 30, 2025 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 1,844 |  |  | $ | 527 |  |  | $ | 513 |  |  | $ | 2,884 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 1,382 |  |  |  | 283 |  |  |  | 239 |  |  |  | 1,904 |
Adjusted fixed costs(3) |  |  | 384 |  |  |  | 179 |  |  |  | 201 |  |  |  | 764 |
Other segment items(4) |  |  | 5 |  |  |  | 3 |  |  |  | (8 | ) |  |  | — |
Total reportable segments’ adjusted EBITDA(5) |  | $ | 73 |  |  | $ | 62 |  |  | $ | 81 |  |  |  | 216 |
Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (40 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (141 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (70 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business acquisition and integration gain and purchase accounting inventory adjustments, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
Certain legal and other settlements and related income, net(9) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32 |
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (129 | )
Loss from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (112 | )
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (22 | )
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (134 | )
Huntsman International
|  | Three months ended June 30, 2026 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 1,079 |  |  | $ | 283 |  |  | $ | 313 |  |  | $ | 1,675 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 810 |  |  |  | 158 |  |  |  | 143 |  |  |  | 1,111 |
Adjusted fixed costs(3) |  |  | 203 |  |  |  | 88 |  |  |  | 108 |  |  |  | 399 |
Other segment items(4) |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (2 | )
Total reportable segments’ adjusted EBITDA(5) |  | $ | 66 |  |  | $ | 37 |  |  | $ | 64 |  |  |  | 167 |
Reconciliation of total reportable segments’ adjusted EBITDA to income from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (77 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (47 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certain legal and other settlements and related expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Gain on sale of business/assets, net(7) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |
Expenses associated with the proposed merger |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5 | )
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10 | )
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26 |
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17 | )
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7 |
|  | Three months ended June 30, 2025 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 932 |  |  | $ | 270 |  |  | $ | 264 |  |  | $ | 1,466 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 700 |  |  |  | 146 |  |  |  | 123 |  |  |  | 969 |
Adjusted fixed costs(3) |  |  | 198 |  |  |  | 95 |  |  |  | 100 |  |  |  | 393 |
Other segment items(4) |  |  | 3 |  |  |  | (3 | ) |  |  | (4 | ) |  |  | (4 | )
Total reportable segments’ adjusted EBITDA(5) |  | $ | 31 |  |  | $ | 32 |  |  | $ | 45 |  |  |  | 108 |
Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (21 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (72 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (34 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certain legal and other settlements and related income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1 | )
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (125 | )
Loss from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (139 | )
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5 | )
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (143 | )
|  | Six months ended June 30, 2026 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 2,002 |  |  | $ | 511 |  |  | $ | 592 |  |  | $ | 3,105 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 1,508 |  |  |  | 284 |  |  |  | 274 |  |  |  | 2,066 |
Adjusted fixed costs(3) |  |  | 388 |  |  |  | 165 |  |  |  | 216 |  |  |  | 769 |
Other segment items(4) |  |  | 1 |  |  |  | (1 | ) |  |  | (7 | ) |  |  | (7 | )
Total reportable segments’ adjusted EBITDA(5) |  | $ | 105 |  |  | $ | 63 |  |  | $ | 109 |  |  |  | 277 |
Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (44 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (150 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (82 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certain legal and other settlements and related income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11 | )
Gain on sale of business/assets, net(7) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |
Expenses associated with the proposed merger |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5 | )
Loss on early extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1 | )
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (18 | )
Loss from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1 | )
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (28 | )
Loss from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3 | )
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (32 | )
|  | Six months ended June 30, 2025 |
|  | Polyurethanes |  |  | Performance Products |  |  | Advanced Materials |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reportable segments’ revenues(1) |  | $ | 1,844 |  |  | $ | 527 |  |  | $ | 513 |  |  | $ | 2,884 |
Significant segment expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable direct costs(2) |  |  | 1,382 |  |  |  | 283 |  |  |  | 239 |  |  |  | 1,904 |
Adjusted fixed costs(3) |  |  | 384 |  |  |  | 179 |  |  |  | 201 |  |  |  | 764 |
Other segment items(4) |  |  | 5 |  |  |  | 3 |  |  |  | (8 | ) |  |  | — |
Total reportable segments’ adjusted EBITDA(5) |  | $ | 73 |  |  | $ | 62 |  |  | $ | 81 |  |  |  | 216 |
Reconciliation of total reportable segments’ adjusted EBITDA to loss from continuing operations before income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (40 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (141 | )
Corporate and other costs, net(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (68 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29 |
Other adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business acquisition and integration gain and purchase accounting inventory adjustments, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
Certain legal and other settlements and related income, net(9) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32 |
Amortization of pension and postretirement actuarial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14 | )
Restructuring, impairment and plant closing and transition costs(8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (129 | )
Loss from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (110 | )
Income tax expense—continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (22 | )
Income from discontinued operations, net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (132 | )
|  | June 30, |  |  | December 31, |
|  | 2026 |  |  | 2025 |
Total assets: |  |  |  |  |  |  |  |
Polyurethanes |  | $ | 4,204 |  |  | $ | 4,045 |
Performance Products |  |  | 1,201 |  |  |  | 1,185 |
Advanced Materials |  |  | 1,143 |  |  |  | 1,095 |
Total reportable segments’ total assets |  |  | 6,548 |  |  |  | 6,325 |
Corporate and other |  |  | 642 |  |  |  | 690 |
Total |  | $ | 7,190 |  |  | $ | 7,015 |
|  | Six months ended
|  | June 30,
|  | 2026 |  |  | 2025 |
Depreciation and amortization: |  |  |  |  |  |  |  |
Polyurethanes |  | $ | 87 |  |  | $ | 79 |
Performance Products |  |  | 33 |  |  |  | 32 |
Advanced Materials |  |  | 25 |  |  |  | 25 |
Total reportable segments’ depreciation and amortization |  |  | 145 |  |  |  | 136 |
Corporate and other |  |  | 5 |  |  |  | 5 |
Total |  | $ | 150 |  |  | $ | 141 |
|  | Six months ended
|  | June 30,
|  | 2026 |  |  | 2025 |
Capital expenditures: |  |  |  |  |  |  |  |
Polyurethanes |  | $ | 40 |  |  | $ | 34 |
Performance Products |  |  | 13 |  |  |  | 28 |
Advanced Materials |  |  | 13 |  |  |  | 10 |
Total reportable segments’ capital expenditures |  |  | 66 |  |  |  | 72 |
Corporate and other |  |  | 2 |  |  |  | 1 |
Total |  | $ | 68 |  |  | $ | 73 |
(1) | A reconciliation of total reportable segments’ revenues to total consolidated revenues is provided in “Note 11. Revenue Recognition.”
(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) | 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.
(7) | 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.”
(8) | Includes costs associated with transition activities relating primarily to our program to realign our cost structure in Europe.
(9) | 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.”

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