Business4ITEM 1A. Risk Factors17ITEM 1B. Unresolved Staff Comments40ITEM 2. Selected Financial Data45ITEM 7. Executive Compensation116ITEM 12. Within these end markets, our products serve approximately 3,400 customers globally. For the year ended December 31, 2020, we had total revenues of $1,938 million. We have a well-established position in each of the industries in which we operate. This seasonality is subject to global, regional, end-use application and other factors. Rutile TiO2 Anatase TiO2 Ultrafine TiO2Characteristics Most common form of TiO2. We are a leading global manufacturer of zinc and barium functional additives. Our coatings customers benefit from a consistent and quality product. Our investment in LPC is accounted for using the equity method. Upon closure, it is expected that DuPont's interest in Viance will transfer to IFF. Ltd. that manufactures products for Venator. Accordingly, barriers to entry, apart from capital availability, may be low. Sakai Chemical Industry Co. and Tayca Corporation. We also have licensed or sub-licensed intellectual property rights to third parties. On January 31, 2020, the U.K. withdrew from the EU. Environmental, Health and Safety Matters. Member states, however, may choose to apply the regulation at any time after publication. The classification will become mandatory in the U.K. beginning October 2021. The suspension was effective in France for one year beginning January 1, 2020. These locations are subject to a number of existing GHG related laws and regulations. We place considerable value on the growth and development of our employees. Sales volumes decreased by approximately 8% in 2020 compared to the prior year period. We are unable to predict the duration or severity of the current economic downturn. We cannot anticipate market acceptance of new products or future products. The regulation was adopted in February 2020 and will apply as of October 1, 2021. Our facilities are dependent on environmental permits to operate. We commenced our 2020 Business Improvement Program in the third quarter of 2020. SK Capital's interests may conflict with your interests as a shareholder. This arrangement may result in conflicts of interest between Huntsman and us. Certain Relationships and Related Party Transactions, and Director Independence. Financial Statements and Supplementary Data—Note 19. We are incorporated under the laws of England and Wales. Any such shares will be evidenced by a receipt issued by the depositary. The deadline for such payment was May 13, 2019. The gas cloud quickly dissipated but temporarily created an off-site visual impact. MINE SAFETY DISCLOSURESNot applicable.43Table of ContentsPART IIITEM 5. We expect that this program will be fully implemented by the end of 2022. For more information concerning restructuring activities, see "Part II. The average specialty TiO2 price was stable compared to the prior year. For further discussion of these plans and the costs involved, see "Part II. Financing ArrangementsFor a discussion of financing arrangements, see "Part II. Derivative Instruments and Hedging Activities" of this report. For a discussion of EHS matters, see "Part II. These conclusions require significant judgment. Income Taxes" of this report for more information regarding our valuation allowances. The application of income tax law is inherently complex. For further information, see "Part II. We are subject to legal proceedings and claims arising out of our busi
