LyondellBasell Industries N : Q2 2021 Supplemental Data and non-GAAP Reconciliations

Table 1 - Reconciliation of Segment Information to Consolidated Financial Information

								2020												2021
Millions of dollars		Q1			Q2			Q3			Q4			Total			Q1			Q2			Total
Sales and other operating revenues:
Olefins & Polyolefins - Americas	$	1,792	$	1,433	$	1,840	$	2,210	$	7,275	$	2,859	$	3,723	$	6,582
Olefins & Polyolefins - EAI		2,224			1,702			1,982			2,459			8,367			3,047			3,455			6,502
Intermediates & Derivatives		1,770			1,157			1,538			1,804			6,269			1,767			2,585			4,352
Advanced Polymer Solutions		1,096			705			1,004			1,108			3,913			1,270			1,336			2,606
Refining		1,448			919			1,101			1,259			4,727			1,126			1,945			3,071
Technology		122			177			193			167			659			165			183			348
Other/Eliminations		(958)			(547)			(882)			(1,070)			(3,457)			(1,152)			(1,666)			(2,818)
Continuing operations	$	7,494	$	5,546	$	6,776	$	7,937	$	27,753	$	9,082	$	11,561	$	20,643
Operating income (loss):
$	238	$	107	$	309	$	516	$	1,170	$	687	$	1,395	$	2,082
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		135			81			52			144			412			259			551			810
Intermediates & Derivatives		131			24			180			166			501			88			493			581
Advanced Polymer Solutions		70			(83)			116			123			226			104			101			205
Refining		(314)			116			(733)			(93)			(1,024)			(130)			(95)			(225)
Technology		47			104			101			35			287			82			82			164
Other		(3)			(10)			(2)			2			(13)			(2)			(1)			(3)
Continuing operations	$	304		$	339		$	23		$	893		$	1,559		$	1,088		$	2,526		$	3,614
Depreciation and amortization:	$	124	$	133	$	134	$	134	$	525	$	143	$	142	$	285
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		53			53			55			53			214			53			50			103
Intermediates & Derivatives		70			74			79			82			305			80			81			161
Advanced Polymer Solutions		44			39			40			29			152			28			27			55
Refining		42			49			40			21			152			19			19			38
Technology		9			8			10			10			37			12			11			23
Continuing operations	$	342		$	356		$	358		$	329		$	1,385		$	335		$	330		$	665
EBITDA:(a)	$	366	$	248	$	474	$	722	$	1,810	$	867	$	1,576	$	2,443
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		189			185			148			304			826			412			708			1,120
Intermediates & Derivatives		203			101			267			262			833			182			596			778
Advanced Polymer Solutions		113			(44)			157			152			378			135			129			264
Refining		(272)			165			(692)			(72)			(871)			(110)			(81)			(191)
Technology		56			112			111			45			324			94			92			186
Other		(9)			(7)			1			-			(15)			5			(2)			3
Continuing operations	$	646		$	760		$	466		$	1,413		$	3,285		$	1,585		$	3,018		$	4,603
Capital, turnarounds and IT deferred spending:	$	204	$	190	$	130	$	19	$	543	$	65	$	82	$	147
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		42			34			38			52			166			40			47			87
Intermediates & Derivatives		353			305			103			119			880			145			245			390
Advanced Polymer Solutions		13			10			18			22			63			20			15			35
Refining		16			21			15			11			63			25			20			45
Technology		30			26			24			31			111			22			20			42
Other		2			2			97			20			121			23			2			25
Continuing operations	$	660	$	588	$	425	$	274	$	1,947	$	340	$	431	$	771

(a) See Table 6 for the reconciliation of net income to EBITDA, including and excluding LCM and impairment.

Table 2 - Selected Segment Operating Information

				2020							2021
	Q1		Q2		Q3		Q4		Total		Q1		Q2		Total
Olefins and Polyolefins - Americas
Volumes (kilotons)	1,014	872	1,116	1,253	4,255	1,133	1,298	2,431
Ethylene produced
Propylene produced	325	324	357	384	1,390	300	368	668
Polyethylene sold	689	665	672	698	2,724	756	750	1,506
Polypropylene sold	216	228	221	224	889	213	243	456
Benchmark Market Prices
West Texas Intermediate crude oil (USD per barrel)	45.97	27.80	41.83	42.56	39.54	57.84	66.10	61.97
Brent crude oil (USD per barrel)	50.95	33.27	43.37	45.26	43.21	61.10	69.02	65.06
Houston Ship Channel natural gas (USD per million BTUs)	1.82	1.64	1.97	2.53	1.99	2.65	2.95	2.80
U.S. weighted average cost of ethylene production (USD per metric ton)	198	265	292	278	258	286	276	281
U.S. ethylene (USD per metric ton)	525	507	619	665	579	902	876	889
U.S. polyethylene [high density] (USD per metric ton)	970	882	1,146	1,293	1,073	1,521	1,940	1,731
U.S. propylene (USD per metric ton)	683	577	768	908	734	1,609	1,477	1,543
U.S. polypropylene [homopolymer] (USD per metric ton)	1,014	930	1,143	1,400	1,122	2,315	2,505	2,410
Olefins and Polyolefins - Europe, Asia, International
Volumes (kilotons)	468	413	425	451	1,757	474	471	945
Ethylene produced
Propylene produced	272	243	251	253	1,019	274	265	539
Polyethylene sold	677	698	630	723	2,728	745	698	1,443
Polypropylene sold	797	804	825	933	3,359	907	867	1,774
Benchmark Market Prices (€ per metric ton)	352	236	396	384	342	530	459	494
Western Europe weighted average cost of ethylene production
Western Europe ethylene	953	673	778	782	797	932	1,058	995
Western Europe polyethylene [high density]	1,044	922	1,007	1,008	995	1,270	1,611	1,441
Western Europe propylene	838	617	723	725	726	885	1,035	960
Western Europe polypropylene [homopolymer]	1,084	975	1,018	1,010	1,022	1,317	1,743	1,530
Intermediates and Derivatives
Volumes Sold (kilotons)	366	281	340	345	1,332	277	317	594
Propylene oxide and derivatives
Intermediate Chemicals:	112	115	135	128	490	96	128	224
Ethylene oxide and derivatives
Styrene monomer	376	391	376	483	1,626	278	393	671
Acetyls	216	214	366	391	1,187	272	307	579
Oxyfuels and Related Products:	156	103	127	162	548	114	144	258
TBA intermediates
MTBE/ETBE	835	747	857	867	3,306	665	749	1,414
Benchmark Market Margins (USD per metric ton)	165	68	93	12	84	46	167	106
MTBE - Northwest Europe
Advanced Polymer Solutions
Volumes Sold (kilotons)	424	252	396	431	1,503	443	398	841
Compounding & Solutions
Advanced Polymers	105	103	105	104	417	110	112	222
Refining
Volumes (thousands of barrels per day)	226	237	216	214	223	152	248	200
Heavy crude oil processing rates
Benchmark Market Margins	7.43	4.42	5.71	5.39	5.74	10.57	15.32	12.95
Brent - 2-1-1
Brent - Maya differential	9.79	8.85	4.18	4.72	6.89	4.75	6.14	5.44

Source: LyondellBasell, IHS Markit and Platts

Note: Benchmark market prices for U.S. and Western Europe polyethylene and polypropylene reflect discounted prices. Volumes of selected key products presented represent third party sales and joint ventures' sales marketed by LyondellBasell.

Table 3 - Unaudited Income Statement Information

								2020												2021
Millions of dollars		Q1			Q2			Q3			Q4			Total			Q1			Q2			Total
Sales and other operating revenues	$	7,494	$	5,546	$	6,776	$	7,937	$	27,753	$	9,082	$	11,561	$	20,643
Cost of sales		6,868			4,894			5,885			6,712			24,359			7,678			8,676			16,354
Impairment of long-lived assets		-			-			582			-			582			-			-			-
Selling, general and administrative expenses		295			288			259			298			1,140			287			327			614
Research and development expenses		27			25			27			34			113			29			32			61
Operating income		304			339			23			893			1,559			1,088			2,526			3,614
Income from equity investments		-			61			62			133			256			137			148			285
Interest expense, net		(86)			(121)			(119)			(188)			(514)			(108)			(125)			(233)
Other income, net		-			4			23			58			85			25			14			39
Income (loss) from continuing operations before income taxes		218			283			(11)			896			1,386			1,142			2,563			3,705
Provision for (benefit from) income taxes		75			(32)			(125)			39			(43)			70			506			576
Income from continuing operations		143			315			114			857			1,429			1,072			2,057			3,129
Income (loss) from discontinued operations, net of tax		1			(1)			-			(2)			(2)			(2)			2			-
Net income		144			314			114			855			1,427			1,070			2,059			3,129
Dividends on redeemable non-controlling interests		(2)			(1)			(2)			(2)			(7)			(2)			(1)			(3)
Net income attributable to Company shareholders	$	142	$	313	$	112	$	853	$	1,420	$	1,068	$	2,058	$	3,126

Table 4 - Unaudited Cash Flow Information

						2020							2021
Millions of dollars	Q1		Q2			Q3		Q4		Total		Q1		Q2		Total
Net cash provided by operating activities	$ 542	$ 1,292	$	827	$ 743	$ 3,404	$ 571	$ 1,902	$2,473
Net cash used in investing activities	(663)	(1,064)			(580)	(2,599)	(4,906)	(59)	(303)	(362)
Net cash provided by (used in) financing activities	884	684			(376)	1,079	2,271	(782)	(1,688)	(2,470)

Table 5 - Unaudited Balance Sheet Information

Millions of dollars	March 31,			June 30,		September 30,		December 31,			March 31,			June 30,
	2020			2020			2020			2020			2021			2021
Cash and cash equivalents	$	1,596	$	2,552	$	2,459	$	1,763	$	1,452	$	1,381
Restricted cash		37			26			25			2			11			2
Short-term investments		199			651			361			702			383			136
Accounts receivable, net		3,043			2,588			2,974			3,441			3,961			4,897
Inventories		3,973			3,768			4,005			4,344			4,632			4,840
Prepaid expenses and other current assets		844			892			935			1,382			1,525			1,641
Total current assets
	9,692			10,477			10,759			11,634			11,964			12,897
Operating lease assets		1,453			1,425			1,386			1,492			1,466			1,634
Property, plant and equipment, net		14,387			14,526			14,133			14,386			14,390			14,645
Equity investments		2,036			2,082			2,594			4,729			4,794			4,902
Goodwill		1,800			1,830			1,880			1,953			1,904			1,931
Intangible assets, net		808			756			752			751			717			677
Other assets		924			445			445			458			511			573
Total assets	$	31,100		$	31,541		$	31,949		$	35,403		$	35,746		$	37,259
Current maturities of long-term debt
$	3	$	3	$	2	$	8	$	958	$	8
Short-term debt		1,493			659			616			663			682			683
Accounts payable		2,638			2,194			2,479			2,948			3,282			3,486
Accrued liabilities		1,387			1,579			1,685			1,883			1,953			2,418
Total current liabilities		5,521			4,435			4,782			5,502			6,875			6,595
Long-term debt		12,159			13,674			13,759			15,286			13,785			13,482
Operating lease liabilities		1,192			1,160			1,122			1,222			1,199			1,364
Other liabilities		2,808			2,968			3,038			2,957			2,554			2,657
Deferred income taxes		1,961			1,811			1,809			2,332			2,403			2,507
Redeemable non-controlling interests		116			116			116			116			116			116
Shareholders' equity		7,324			7,358			7,306			7,971			8,800			10,524
Non-controlling interests		19			19			17			17			14			14
Total liabilities, redeemable non-controlling interests and equity	$	31,100	$	31,541	$	31,949	$	35,403	$	35,746	$	37,259