Q3 2021 Supplemental Data and non-GAAP Reconciliations (PDF)

Table 1 - Reconciliation of Segment Information to Consolidated Financial Information

								2020												2021
Millions of dollars		Q1			Q2			Q3			Q4			Total			Q1			Q2			Q3			Total
Sales and other operating revenues:
Olefins & Polyolefins - Americas	$	1,792	$	1,433	$	1,840	$	2,210	$	7,275	$	2,859	$	3,723	$	4,408	$	10,990
Olefins & Polyolefins - EAI		2,224			1,702			1,982			2,459			8,367			3,047			3,455			3,458			9,960
Intermediates & Derivatives		1,770			1,157			1,538			1,804			6,269			1,767			2,585			2,894			7,246
Advanced Polymer Solutions		1,096			705			1,004			1,108			3,913			1,270			1,336			1,286			3,892
Refining		1,448			919			1,101			1,259			4,727			1,126			1,945			2,288			5,359
Technology		122			177			193			167			659			165			183			238			586
Other/Eliminations		(958)			(547)			(882)			(1,070)			(3,457)			(1,152)			(1,666)			(1,872)			(4,690)
Continuing operations	$	7,494	$	5,546	$	6,776	$	7,937	$	27,753	$	9,082	$	11,561	$	12,700	$	33,343
Operating income (loss):
$	238	$	107	$	309	$	516	$	1,170	$	687	$	1,395	$	1,403	$	3,485
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		135			81			52			144			412			259			551			361			1,171
Intermediates & Derivatives		131			24			180			166			501			88			493			247			828
Advanced Polymer Solutions		70			(83)			116			123			226			104			101			94			299
Refining		(314)			116			(733)			(93)			(1,024)			(130)			(95)			25			(200)
Technology		47			104			101			35			287			82			82			144			308
Other		(3)			(10)			(2)			2			(13)			(2)			(1)			(26)			(29)
Continuing operations	$	304		$	339		$	23		$	893		$	1,559		$	1,088		$	2,526		$	2,248		$	5,862
Depreciation and amortization:	$	124	$	133	$	134	$	134	$	525	$	143	$	142	$	142	$	427
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		53			53			55			53			214			53			50			47			150
Intermediates & Derivatives		70			74			79			82			305			80			81			103			264
Advanced Polymer Solutions		44			39			40			29			152			28			27			28			83
Refining		42			49			40			21			152			19			19			20			58
Technology		9			8			10			10			37			12			11			11			34
Continuing operations	$	342		$	356		$	358		$	329		$	1,385		$	335		$	330		$	351		$	1,016
EBITDA:(a)	$	366	$	248	$	474	$	722	$	1,810	$	867	$	1,576	$	1,568	$	4,011
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		189			185			148			304			826			412			708			474			1,594
Intermediates & Derivatives		203			101			267			262			833			182			596			348			1,126
Advanced Polymer Solutions		113			(44)			157			152			378			135			129			121			385
Refining		(272)			165			(692)			(72)			(871)			(110)			(81)			41			(150)
Technology		56			112			111			45			324			94			92			155			341
Other		(9)			(7)			1			-			(15)			5			(2)			(16)			(13)
Continuing operations	$	646		$	760		$	466		$	1,413		$	3,285		$	1,585		$	3,018		$	2,691		$	7,294
Capital, turnarounds and IT deferred spending:	$	204	$	190	$	130	$	19	$	543	$	65	$	82	$	72	$	219
Olefins & Polyolefins - Americas
Olefins & Polyolefins - EAI		42			34			38			52			166			40			47			54			141
Intermediates & Derivatives		353			305			103			119			880			145			245			327			717
Advanced Polymer Solutions		13			10			18			22			63			20			15			20			55
Refining		16			21			15			11			63			25			20			17			62
Technology		30			26			24			31			111			22			20			22			64
Other		2			2			97			20			121			23			2			2			27
Continuing operations	$	660	$	588	$	425	$	274	$	1,947	$	340	$	431	$	514	$	1,285

(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	Q3		Total
Olefins and Polyolefins - Americas
Volumes (kilotons)	1,014	872	1,116	1,253	4,255	1,133	1,298			1,225	3,656
Ethylene produced
Propylene produced	325	324	357	384	1,390	300	368			382	1,050
Polyethylene sold	689	665	672	698	2,724	756	750			758	2,264
Polypropylene sold	216	228	221	224	889	213	243			247	703
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			70.58	64.84
Brent crude oil (USD per barrel)	50.95	33.27	43.37	45.26	43.21	61.10	69.02			73.23	67.78
Houston Ship Channel natural gas (USD per million BTUs)	1.82	1.64	1.97	2.53	1.99	2.65	2.95			4.25	3.28
U.S. weighted average cost of ethylene production (USD per metric ton)	198	265	292	278	258	286	276			356	306
U.S. ethylene (USD per metric ton)	525	507	619	665	579	902	876			974	917
U.S. polyethylene [high density] (USD per metric ton)	970	882	1,146	1,293	1,073	1,521	1,940			2,161	1,874
U.S. propylene (USD per metric ton)	683	577	768	908	734	1,609	1,477			1,815	1,634
U.S. polypropylene [homopolymer] (USD per metric ton)	1,014	930	1,143	1,400	1,122	2,315	2,505			2,962	2,594
Olefins and Polyolefins - Europe, Asia, International
Volumes (kilotons)	468	413	425	451	1,757	474	471			455	1,400
Ethylene produced
Propylene produced	272	243	251	253	1,019	274	265			264	803
Polyethylene sold	677	698	630	723	2,728	745	698			691	2,134
Polypropylene sold	797	804	825	933	3,359	907	867			926	2,700
Benchmark Market Prices (€ per metric ton)	352	236	396	384	342	530	459			557	515
Western Europe weighted average cost of ethylene production
Western Europe ethylene	953	673	778	782	797	932	1,058			1,153	1,048
Western Europe polyethylene [high density]	1,044	922	1,007	1,008	995	1,270	1,611			1,481	1,454
Western Europe propylene	838	617	723	725	726	885	1,035			1,152	1,024
Western Europe polypropylene [homopolymer]	1,084	975	1,018	1,010	1,022	1,317	1,743			1,718	1,593
Intermediates and Derivatives
Volumes Sold (kilotons)	366	281	340	345	1,332	277	317			359	953
Propylene oxide and derivatives
Intermediate Chemicals:	112	115	135	128	490	96	128			141	365
Ethylene oxide and derivatives
Styrene monomer	376	391	376	483	1,626	278	393			461	1,132
Acetyls	216	214	366	391	1,187	272	307			218	797
Oxyfuels and Related Products:	156	103	127	162	548	114	144			162	420
TBA intermediates
MTBE/ETBE	835	747	857	867	3,306	665	749			956	2,370
Benchmark Market Margins (USD per metric ton)	165	68	93	12	84	46	167			125	113
MTBE - Northwest Europe
Advanced Polymer Solutions
Volumes Sold (kilotons)	424	252	396	431	1,503	443	398			360	1,201
Compounding & Solutions
Advanced Polymers	105	103	105	104	417	110	112			106	328
Refining
Volumes (thousands of barrels per day)	226	237	216	214	223	152	248			260	220
Heavy crude oil processing rates
Benchmark Market Margins	7.43	4.42	5.71	5.39	5.74	10.57	15.32			16.10	14.00
Brent - 2-1-1
Brent - Maya differential	9.79	8.85	4.18	4.72	6.89	4.75	6.14			7.01	5.97

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			Q3			Total
Sales and other operating revenues	$	7,494	$	5,546	$	6,776	$	7,937	$	27,753	$	9,082	$	11,561	$	12,700	$	33,343
Cost of sales		6,868			4,894			5,885			6,712			24,359			7,678			8,676			10,109			26,463
Impairment of long-lived assets		-			-			582			-			582			-			-			-			-
Selling, general and administrative expenses		295			288			259			298			1,140			287			327			313			927
Research and development expenses		27			25			27			34			113			29			32			30			91
Operating income		304			339			23			893			1,559			1,088			2,526			2,248			5,862
Income from equity investments		-			61			62			133			256			137			148			104			389
Interest expense, net		(86)			(121)			(119)			(188)			(514)			(108)			(125)			(125)			(358)
Other income (expense), net		-			4			23			58			85			25			14			(12)			27
Income (loss) from continuing operations before income taxes		218			283			(11)			896			1,386			1,142			2,563			2,215			5,920
Provision for (benefit from) income taxes		75			(32)			(125)			39			(43)			70			506			452			1,028
Income from continuing operations		143			315			114			857			1,429			1,072			2,057			1,763			4,892
Income (loss) from discontinued operations, net of tax		1			(1)			-			(2)			(2)			(2)			2			(1)			(1)
Net income		144			314			114			855			1,427			1,070			2,059			1,762			4,891
Dividends on redeemable non-controlling interests		(2)			(1)			(2)			(2)			(7)			(2)			(1)			(2)			(5)
Net income attributable to Company shareholders	$	142	$	313	$	112	$	853	$	1,420	$	1,068	$	2,058	$	1,760	$	4,886

Table 4 - Unaudited Cash Flow Information

						2020							2021
Millions of dollars	Q1		Q2			Q3		Q4		Total		Q1		Q2		Q3		Total
Net cash provided by operating activities	$ 542	$ 1,292	$	827	$ 743	$ 3,404	$ 571	$ 1,902	$ 2,143	$ 4,616
Net cash used in investing activities	(663)	(1,064)			(580)	(2,599)	(4,906)	(59)	(303)	(435)	(797)
Net cash provided by (used in) financing activities	884	684			(376)	1,079	2,271	(782)	(1,688)	(1,157)	(3,627)

Table 5 - Unaudited Balance Sheet Information

Millions of dollars	March 31,			June 30,		September 30,		December 31,			March 31,			June 30,		September 30,
	2020			2020			2020			2020			2021			2021			2021
Cash and cash equivalents	$	1,596	$	2,552	$	2,459	$	1,763	$	1,452	$	1,381	$	1,893
Restricted cash		37			26			25			2			11			2			5
Short-term investments		199			651			361			702			383			136			36
Accounts receivable, net		3,043			2,588			2,974			3,441			3,961			4,897			5,251
Inventories		3,973			3,768			4,005			4,344			4,632			4,840			4,982
Prepaid expenses and other current assets		844			892			935			1,382			1,525			1,641			1,819
Total current assets
	9,692			10,477			10,759			11,634			11,964			12,897			13,986
Operating lease assets		1,453			1,425			1,386			1,492			1,466			1,634			1,789
Property, plant and equipment, net		14,387			14,526			14,133			14,386			14,390			14,645			14,836
Equity investments		2,036			2,082			2,594			4,729			4,794			4,902			4,888
Goodwill		1,800			1,830			1,880			1,953			1,904			1,931			1,894
Intangible assets, net		808			756			752			751			717			677			666
Other assets		924			445			445			458			511			573			603
Total assets	$	31,100		$	31,541		$	31,949		$	35,403		$	35,746		$	37,259		$	38,662
Current maturities of long-term debt
$	3	$	3	$	2	$	8	$	958	$	8	$	8
Short-term debt		1,493			659			616			663			682			683			563
Accounts payable		2,638			2,194			2,479			2,948			3,282			3,486			4,172
Accrued liabilities		1,387			1,579			1,685			1,883			1,953			2,418			2,665
Total current liabilities		5,521			4,435			4,782			5,502			6,875			6,595			7,408
Long-term debt		12,159			13,674			13,759			15,286			13,785			13,482			12,945
Operating lease liabilities		1,192			1,160			1,122			1,222			1,199			1,364			1,518
Other liabilities		2,808			2,968			3,038			2,957			2,554			2,657			2,383
Deferred income taxes		1,961			1,811			1,809			2,332			2,403			2,507			2,478
Redeemable non-controlling interests		116			116			116			116			116			116			116
Shareholders' equity		7,324			7,358			7,306			7,971			8,800			10,524			11,800
Non-controlling interests		19			19			17			17			14			14			14
Total liabilities, redeemable non-controlling interests and equity	$	31,100	$	31,541	$	31,949	$	35,403	$	35,746	$	37,259	$	38,662