SELECTED UNAUDITED QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2012

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, 2012 and 2011 is as follows (dollars in millions):

	Three months ended
	March 31, 2012(1)		June 30, 2012		September 30, 2012(1)		December 31, 2012(1)(2)
Revenues	$	2,913	$	2,914	$	2,741	$	2,619
Gross profit		554		532		542		413
Restructuring, impairment and plant closing costs		—		5		47		40
Income (loss) from continuing operations		170		133		121		(44	)
Income (loss) before extraordinary gain		166		131		120		(44	)
Net income (loss)		166		131		121		(43	)
Net income (loss) attributable to Huntsman International LLC		166		127		117		(45	)

	Three months ended
	March 31, 2011		June 30, 2011		September 30, 2011(3)			December 31, 2011(4)
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

(1)

During 2012, our Polyurethanes segment implemented a restructuring program to reduce annualized fixed costs by $75 million by the third quarter of 2013. In connection with this program, we recorded restructuring expenses of $5 million, $32 million and $1 million in the first, third and fourth quarters of 2012, respectively.

(2)

During the fourth quarter of 2012, our Advanced Materials segment began implementing a global transformational change program, subject to consultation with relevant employee representatives, designed to improve the segment's manufacturing efficiencies, enhance commercial excellence and ensure its long-term global competitiveness. In connection with this global transformational change program, we recorded charges of $28 million related primarily to workforce reduction costs.

• Also during the fourth quarter of 2012, we recorded a loss on early extinguishment of debt of $77 million in connection with the redemption of $400 million of our 2016 Senior Notes.

(3)

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.

(4)

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.