SELECTED UNAUDITED QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2011

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA

SELECTED UNAUDITED QUARTERLY FINANCIAL DATA

29. SELECTED UNAUDITED QUARTERLY FINANCIAL DATA

        A summary of selected unaudited quarterly financial data for the years ended December 31, 2011 and 2010 is as follows (dollars in millions, except per share amounts):

	Three months ended
	March 31, 2011		June 30, 2011		September 30, 2011(1)			December 31, 2011(2)
Revenues	$	2,679	$	2,934	$	2,976		$	2,632
Gross profit		465		505		495			393
Restructuring, impairment and plant closing costs		7		9		155			(4	)
Income (loss) from continuing operations		81		127		(39	)		88
Income (loss) before extraordinary gain		67		126		(29	)		92
Net income (loss)		68		127		(29	)		94
Net income (loss) attributable to Huntsman International LLC	$	63	$	117	$	(31	)	$	104

	Three months ended
	March 31, 2010			June 30, 2010(3)		September 30, 2010		December 31, 2010
Revenues	$	2,094		$	2,343	$	2,401	$	2,412
Gross profit		286			388		420		384
Restructuring, impairment and plant closing costs		3			17		4		5
(Loss) income from continuing operations		(13	)		57		60		40
(Loss) income before extraordinary gain		(26	)		119		59		34
Net (loss) income		(26	)		119		59		33
Net (loss) income attributable to Huntsman International LLC		(26	)		117		58		31

 

(1)

During the quarter ended September 30, 2011, we announced plans to implement a significant restructuring of our Textile Effects business, including the closure of our production facilities and business support offices in Basel, Switzerland. In connection with this plan during 2011, we recorded a charge of $62 million for workforce reduction and a noncash $53 million charge for the impairment of long-lived assets at our Basel, Switzerland manufacturing facility.

(2)

During the quarter ended December 31, 2011, our Advanced Materials division completed the sale of its stereolithography resin and Digitalis® machine manufacturing businesses to 3D Systems Corporation and recognized a pre-tax gain of $34 million.

 

(3)

During the quarter ended June 30, 2010, we recorded a non-recurring $15 million credit to equity income of investment in unconsolidated affiliates to appropriately reflect our investment in the Sasol- Huntsman joint venture. Additionally, during the quarter ended June 30, 2010, we recorded a reduction to interest expense of $15 million relating to the ineffective portion of our cross-currency interest rate contracts.