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  "documentTitle": "Huntsman Corporation (HUN)",
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  "notes": "Uses a red arrow to visually connect the 2013 baseline to the 2016 actuals, highlighting a 6% decline.",
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      "text": "The Company's Adjusted EBITDA not only failed to improve, but had deteriorated after the 2014 Investor Day",
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      "text": "Adjusted EBITDA: 6%",
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      "text": "Huntsman's Adjusted EBITDA was 6% worse than when the Company first hosted its 2014 Investor Day despite a significant contribution from a large acquisition.",
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      "text": "Adjusted EBITDA in 2016 not only failed to achieve the Company's $2.0 billion target, but had declined relative to when the Company first hosted its 2014 Investor Day, before it had completed the acquisition of Rockwood's TiO2 business.",
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      "text": "Source: Public company filings and presentations. (1) $1.3 billion calculated as $1.1 billion cash payment plus $0.2 billion of pension liabilities transferred to Huntsman.",
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      "text": "In Fact, the Company's 2016 Adjusted EBITDA Was Lower Than Before It Had Acquired Rockwood's TiO2 Business",
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