DOW INC., 10-Q filed on 10/24/2025
Quarterly Report
v3.25.3
Cover Page
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Document Information [Line Items]  
Document Type 10-Q
Document Quarterly Report true
Document Transition Report false
Entity Shell Company false
Entity Interactive Data Current Yes
Document Period End Date Sep. 30, 2025
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q3
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Dow Inc.
Entity Tax Identification Number 30-1128146
Entity File Number 001-38646
Entity Incorporation, State or Country Code DE
Entity Current Reporting Status Yes
Entity Shell Company false
Entity Filer Category Large Accelerated Filer
Entity Emerging Growth Company false
Entity Small Business false
Entity Central Index Key 0001751788
Current Fiscal Year End Date --12-31
Entity Addresses [Line Items]  
Entity Address, Address Line One 2211 H.H. Dow Way
Entity Address, City or Town Midland
Entity Address, State or Province MI
Entity Address, Postal Zip Code 48674
City Area Code 989
Local Phone Number 636-1000
Entity Listings [Line Items]  
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol DOW
Security Exchange Name NYSE
Entity Listing, Par Value Per Share | $ / shares $ 0.01
Entity Common Stock, Shares Outstanding | shares 710,767,392
The Dow Chemical Company  
Document Information [Line Items]  
Document Type 10-Q
Document Quarterly Report true
Document Transition Report false
Entity Shell Company false
Entity Interactive Data Current Yes
Document Period End Date Sep. 30, 2025
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q3
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name The Dow Chemical Company
Entity Tax Identification Number 38-1285128
Entity File Number 001-03433
Entity Incorporation, State or Country Code DE
Entity Current Reporting Status Yes
Entity Shell Company false
Entity Filer Category Non-accelerated Filer
Entity Emerging Growth Company false
Entity Small Business false
Entity Central Index Key 0000029915
Current Fiscal Year End Date --12-31
Entity Addresses [Line Items]  
Entity Address, Address Line One 2211 H.H. Dow Way
Entity Address, City or Town Midland
Entity Address, State or Province MI
Entity Address, Postal Zip Code 48674
City Area Code 989
Local Phone Number 636-1000
Entity Listings [Line Items]  
Entity Listing, Par Value Per Share | $ / shares $ 0.01
Entity Common Stock, Shares Outstanding | shares 100
The Dow Chemical Company | 0.500% Notes due March 15, 2027  
Entity Listings [Line Items]  
Title of 12(b) Security 0.500% Notes due March 15, 2027
Trading Symbol DOW/27
Security Exchange Name NYSE
The Dow Chemical Company | 1.125% Notes due March 15, 2032  
Entity Listings [Line Items]  
Title of 12(b) Security 1.125% Notes due March 15, 2032
Trading Symbol DOW/32
Security Exchange Name NYSE
The Dow Chemical Company | 1.875% Notes due March 15, 2040  
Entity Listings [Line Items]  
Title of 12(b) Security 1.875% Notes due March 15, 2040
Trading Symbol DOW/40
Security Exchange Name NYSE
The Dow Chemical Company | 4.625% Notes due October 1, 2044  
Entity Listings [Line Items]  
Title of 12(b) Security 4.625% Notes due October 1, 2044
Trading Symbol DOW/44
Security Exchange Name NYSE
v3.25.3
Dow Consolidated Statements of Income Statement - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Net sales $ 9,973 $ 10,879 $ 30,508 $ 32,559
Cost of sales 9,242 9,809 28,523 28,888
Research and development expenses 191 208 579 608
Selling, general and administrative expenses 340 396 1,053 1,228
Amortization of intangibles 46 76 185 234
Restructuring and asset related charges - net 23 24 822 69
Equity in earnings (losses) of nonconsolidated affiliates (72) 2 (122) 45
Sundry income (expense) - net 185 119 345 256
Interest income 47 36 114 143
Interest expense and amortization of debt discount 221 199 646 595
Income (loss) before income taxes 70 324 (963) 1,381
Provision (credit) for income taxes (54) 84 4 145
Net income (loss) 124 240 (967) 1,236
Net income attributable to noncontrolling interests 62 26 113 67
Net income (loss) available for The Dow Chemical Company common stockholder $ 62 $ 214 $ (1,080) $ 1,169
Earnings (loss) per common share - basic $ 0.08 $ 0.30 $ (1.53) $ 1.65
Earnings (loss) per common share - diluted $ 0.08 $ 0.30 $ (1.53) $ 1.65
Weighted-average common shares outstanding - basic 711.8 702.3 709.4 703.5
Weighted-average common shares outstanding - diluted 713.2 703.6 709.4 704.9
v3.25.3
Dow Consolidated Statements of Comprehensive Income Statement - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 124 $ 240 $ (967) $ 1,236
Other comprehensive income (loss), net of tax        
Unrealized gains on investments 57 34 67 89
Cumulative translation adjustments (33) 199 218 34
Pension and other postretirement benefit plans 28 18 69 52
Derivative instruments 11 31 (7) 3
Total other comprehensive income 63 282 347 178
Comprehensive income (loss) 187 522 (620) 1,414
Comprehensive income attributable to noncontrolling interests, net of tax 62 26 113 67
Comprehensive income (loss) attributable to Dow Inc. $ 125 $ 496 $ (733) $ 1,347
v3.25.3
Dow Consolidated Balance Sheets Statement - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Cash and Cash Equivalents $ 4,609 $ 2,189
Trade (net of allowance for doubtful receivables - 2025: $71; 2024: $95) 5,044 4,756
Other 2,117 2,108
Inventories 6,675 6,544
Other current assets 1,201 993
Total current assets (variable interest entities restricted) 19,646 16,590
Investment in nonconsolidated affiliates 1,255 1,266
Other investments (investments carried at fair value - 2025: $2,073; 2024: $2,047) 2,812 3,033
Noncurrent receivables 427 380
Total investments 4,494 4,679
Property 65,327 62,121
Less: Accumulated depreciation 42,788 40,117
Net property (variable interest entities restricted - 2025: $2,357; 2024: $122) 22,539 22,004
Goodwill 8,690 8,565
Other intangible assets (net of accumulated amortization - 2025: $5,702; 2024: $5,394) 1,546 1,721
Operating lease right-of-use assets 1,314 1,268
Deferred income tax assets 1,418 1,257
Deferred charges and other assets 1,343 1,228
Total other assets (variable interest entities restricted - 2025: $232; 2024: $15) 14,311 14,039
Total Assets 60,990 57,312
Notes payable 133 135
Long-term debt due within one year 413 497
Accounts payable - Trade 4,535 4,847
Accounts payable - Other 1,673 1,694
Operating lease liabilities - current 324 318
Income taxes payable 271 276
Accrued Liabilities, Current 2,755 2,521
Total current liabilities (variable interest entities nonrecourse - 2025: $413; 2024: $24) 10,104 10,288
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711
Deferred income tax liabilities 383 392
Pension and other postretirement benefits - noncurrent 4,656 4,736
Asbestos-related liabilities - noncurrent 645 713
Operating lease liabilities - noncurrent 1,046 984
Other noncurrent obligations 7,383 6,637
Total other noncurrent liabilities (variable interest entities nonrecourse - 2025: $353; 2024: $13) 14,113 13,462
Common stock (authorized 5,000,000,000 shares of $0.01 par value each; issued 2025: 785,965,252 shares; 2024: 784,471,939 shares) 8 8
Additional Paid in Capital, Common Stock 11,099 9,203
Retained earnings 18,576 20,909
Accumulated other comprehensive loss (7,763) (8,110)
Treasury stock at cost (2025: 75,197,860 shares; 2024: 80,859,145 shares) (4,379) (4,655)
Dow Inc.’s stockholders’ equity 17,541 17,355
Noncontrolling interests 1,523 496
Total equity 19,064 17,851
Total Liabilities and Equity $ 60,990 $ 57,312
v3.25.3
Dow Consolidated Balance Sheets Parentheticals - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Accounts Receivable, Allowance for Credit Loss, Current $ 71 $ 95
Total current assets (variable interest entities restricted) 19,646 16,590
Investments, Fair Value Disclosure 2,073 2,047
Net property (variable interest entities restricted) 22,539 22,004
Finite-Lived Intangible Assets, Accumulated Amortization 5,702 5,394
Total other assets (variable interest entities restricted) 14,311 14,039
Total current liabilities (variable interest entities nonrecourse) 10,104 10,288
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711
Total other noncurrent liabilities (variable interest entities nonrecourse) $ 14,113 $ 13,462
Common Stock, Shares Authorized 5,000,000,000 5,000,000,000
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common Stock, Shares, Issued 785,965,252 784,471,939
Treasury Stock, Common, Shares 75,197,860 80,859,145
Variable Interest Entity, Primary Beneficiary [Member]    
Total current assets (variable interest entities restricted) $ 219 $ 55
Net property (variable interest entities restricted) 2,357 122
Total other assets (variable interest entities restricted) 232 15
Total current liabilities (variable interest entities nonrecourse) 413 24
Long-Term Debt (variable interest entities nonrecourse) 172 0
Total other noncurrent liabilities (variable interest entities nonrecourse) $ 353 $ 13
v3.25.3
Dow Consolidated Statements of Cash Flows Statement - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Statement of Cash Flows [Abstract]    
Net income (loss) $ (967) $ 1,236
Depreciation and amortization 2,126 2,143
Credit for deferred income tax (179) (134)
Earnings of nonconsolidated affiliates less than dividends received 312 221
Net periodic pension benefit credit (73) (143)
Pension contributions (145) (92)
Net gain on sales of assets, businesses and investments (211) (58)
Restructuring and asset related charges - net 822 69
Other net loss 134 332
Accounts and notes receivable (400) (818)
Inventories (132) (676)
Accounts payable (492) 601
Other assets and liabilities, net (31) (589)
Cash provided by operating activities - continuing operations 764 2,092
Cash provided by (used for) operating activities - discontinued operations (16) 8
Cash provided by operating activities 748 2,100
Capital expenditures (1,911) (2,173)
Proceeds from incentives related to capital expenditures 132 0
Investment in gas field developments (110) (157)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested 135 36
Acquisitions of property and businesses, net of cash acquired 0 (121)
Investments in and loans to nonconsolidated affiliates (21) (25)
Proceeds from sales of ownership interests in nonconsolidated affiliates 125 0
Purchases of investments (523) (1,381)
Proceeds from sales and maturities of investments 711 2,386
Other investing activities, net 5 (21)
Cash used for investing activities (1,457) (1,456)
Changes in short-term notes payable 36 (61)
Proceeds from issuance of short-term debt greater than three months 50 114
Payments on short-term debt greater than three months (46) (6)
Proceeds from issuance of long-term debt 2,652 1,443
Payments on long-term debt (1,207) (224)
Proceeds from (Repayments of) Accounts Receivable Securitization (3) 28
Purchases of treasury stock 0 (494)
Proceeds from issuance of stock 0 51
Transaction financing, debt issuance and other costs (130) (13)
Employee taxes paid for share-based payment arrangements (16) (38)
Distributions to noncontrolling interests (93) (49)
Proceeds from Noncontrolling Interests 2,943 0
Dividends paid to stockholders (1,239) (1,474)
Other financing activities, net (6) 0
Cash provided by (used for) financing activities 2,941 (723)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 259 18
Increase (decrease) in cash, cash equivalents and restricted cash 2,491 (61)
Cash, cash equivalents and restricted cash at beginning of period 2,263 3,048
Cash, cash equivalents and restricted cash at end of period 4,754 2,987
Less: Restricted cash and cash equivalents, included in "Other current assets" 145 104
Cash and cash equivalents and end of period $ 4,609 $ 2,883
v3.25.3
Dow Consolidated Statements of Equity Statement - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Treasury Stock, Common
Total equity   $ 8 $ 8,880 $ 21,774 $ (7,681) $ (4,374)
Stock Issued During Period, Value, Common Stock     51      
APIC, Share-based Payment Arrangement, Increase for Cost Recognition     285      
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans     (161)      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     0      
Net income (loss) available for The Dow Chemical Company common stockholder $ 1,169     1,169    
Dividends, Common Stock       (1,474)    
Transfer of Business Under Common Control       10    
Stockholders' Equity, Other     0 (20)    
Other Comprehensive Income (Loss), Net of Tax $ 178       178  
Treasury Stock, Value, Acquired, Cost Method           (495)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans           161
Common Stock, Dividends, Per Share, Declared $ 2.10          
Total equity   8 9,012 21,739 (7,785) (4,656)
Stock Issued During Period, Value, Common Stock     0      
APIC, Share-based Payment Arrangement, Increase for Cost Recognition     86      
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans     (43)      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     0      
Net income (loss) available for The Dow Chemical Company common stockholder $ 214     214    
Dividends, Common Stock       (490)    
Transfer of Business Under Common Control       0    
Stockholders' Equity, Other     0 (4)    
Other Comprehensive Income (Loss), Net of Tax $ 282       282  
Treasury Stock, Value, Acquired, Cost Method           (95)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans           43
Common Stock, Dividends, Per Share, Declared $ 0.70          
Dow Inc.’s stockholders’ equity $ 18,311          
Noncontrolling interests 530          
Total equity 18,841 8 9,055 21,459 (7,503) (4,708)
Dow Inc.’s stockholders’ equity 17,355          
Noncontrolling interests 496          
Total equity 17,851 8 9,203 20,909 (8,110) (4,655)
Stock Issued During Period, Value, Common Stock     0      
APIC, Share-based Payment Arrangement, Increase for Cost Recognition     293      
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans     (276)      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     1,879      
Net income (loss) available for The Dow Chemical Company common stockholder (1,080)     (1,080)    
Dividends, Common Stock       (1,239)    
Transfer of Business Under Common Control       0    
Stockholders' Equity, Other     0 (14)    
Other Comprehensive Income (Loss), Net of Tax $ 347       347  
Treasury Stock, Value, Acquired, Cost Method           0
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans           276
Common Stock, Dividends, Per Share, Declared $ 1.75          
Total equity   8 10,758 18,766 (7,826) (4,475)
Stock Issued During Period, Value, Common Stock     0      
APIC, Share-based Payment Arrangement, Increase for Cost Recognition     97      
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans     (96)      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     339      
Net income (loss) available for The Dow Chemical Company common stockholder $ 62     62    
Dividends, Common Stock       (249)    
Transfer of Business Under Common Control       0    
Stockholders' Equity, Other     1 (3)    
Other Comprehensive Income (Loss), Net of Tax $ 63       63  
Treasury Stock, Value, Acquired, Cost Method           0
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans           96
Common Stock, Dividends, Per Share, Declared $ 0.35          
Dow Inc.’s stockholders’ equity $ 17,541          
Noncontrolling interests 1,523          
Total equity $ 19,064 $ 8 $ 11,099 $ 18,576 $ (7,763) $ (4,379)
v3.25.3
Consolidated Statements of Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net sales $ 9,973 $ 10,879 $ 30,508 $ 32,559
Cost of sales 9,242 9,809 28,523 28,888
Research and development expenses 191 208 579 608
Selling, general and administrative expenses 340 396 1,053 1,228
Amortization of intangibles 46 76 185 234
Restructuring and asset related charges - net 23 24 822 69
Equity in earnings (losses) of nonconsolidated affiliates (72) 2 (122) 45
Sundry income (expense) - net 185 119 345 256
Interest income 47 36 114 143
Interest expense and amortization of debt discount 221 199 646 595
Income (loss) before income taxes 70 324 (963) 1,381
Provision (credit) for income taxes (54) 84 4 145
Net income (loss) 124 240 (967) 1,236
Net income attributable to noncontrolling interests 62 26 113 67
Net income (loss) available for The Dow Chemical Company common stockholder 62 214 (1,080) 1,169
The Dow Chemical Company        
Net sales 9,973 10,879 30,508 32,559
Cost of sales 9,241 9,800 28,520 28,877
Research and development expenses 191 208 579 608
Selling, general and administrative expenses 340 396 1,053 1,228
Amortization of intangibles 46 76 185 234
Restructuring and asset related charges - net 23 24 822 69
Equity in earnings (losses) of nonconsolidated affiliates (72) 2 (122) 45
Sundry income (expense) - net 184 118 360 253
Interest income 47 38 117 152
Interest expense and amortization of debt discount 221 199 646 595
Income (loss) before income taxes 70 334 (942) 1,398
Provision (credit) for income taxes (54) 84 4 145
Net income (loss) 124 250 (946) 1,253
Net income attributable to noncontrolling interests 62 26 113 67
Net income (loss) available for The Dow Chemical Company common stockholder $ 62 $ 224 $ (1,059) $ 1,186
v3.25.3
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net income (loss) $ 124 $ 240 $ (967) $ 1,236
Other comprehensive income (loss), net of tax        
Unrealized gains on investments 57 34 67 89
Cumulative translation adjustments (33) 199 218 34
Pension and other postretirement benefit plans 28 18 69 52
Derivative instruments 11 31 (7) 3
Other Comprehensive Income (Loss), Net of Tax 63 282 347 178
Comprehensive Income 187 522 (620) 1,414
Comprehensive income attributable to noncontrolling interests, net of tax 62 26 113 67
Comprehensive income (loss) attributable to Dow Inc. 125 496 (733) 1,347
The Dow Chemical Company        
Net income (loss) 124 250 (946) 1,253
Other comprehensive income (loss), net of tax        
Unrealized gains on investments 57 34 67 89
Cumulative translation adjustments (33) 199 218 34
Pension and other postretirement benefit plans 28 18 69 52
Derivative instruments 11 31 (7) 3
Other Comprehensive Income (Loss), Net of Tax 63 282 347 178
Comprehensive Income 187 532 (599) 1,431
Comprehensive income attributable to noncontrolling interests, net of tax 62 26 113 67
Comprehensive income (loss) attributable to Dow Inc. $ 125 $ 506 $ (712) $ 1,364
v3.25.3
TDCC Consolidated Balance Sheets (Statement) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Cash and Cash Equivalents $ 4,609 $ 2,189
Trade (net of allowance for doubtful receivables - 2025: $71; 2024: $95) 5,044 4,756
Other 2,117 2,108
Inventories 6,675 6,544
Other current assets 1,201 993
Total current assets (variable interest entities restricted) 19,646 16,590
Investment in nonconsolidated affiliates 1,255 1,266
Other investments (investments carried at fair value - 2025: $2,073; 2024: $2,047) 2,812 3,033
Noncurrent receivables 427 380
Total investments 4,494 4,679
Property 65,327 62,121
Less: Accumulated depreciation 42,788 40,117
Net property (variable interest entities restricted) 22,539 22,004
Goodwill 8,690 8,565
Other intangible assets (net of accumulated amortization - 2025: $5,702; 2024: $5,394) 1,546 1,721
Operating lease right-of-use assets 1,314 1,268
Deferred income tax assets 1,418 1,257
Deferred charges and other assets 1,343 1,228
Total other assets (variable interest entities restricted) 14,311 14,039
Total Assets 60,990 57,312
Notes payable 133 135
Long-term debt due within one year 413 497
Accounts payable - Trade 4,535 4,847
Accounts payable - Other 1,673 1,694
Operating lease liabilities - current 324 318
Income taxes payable 271 276
Accrued Liabilities, Current 2,755 2,521
Total current liabilities (variable interest entities nonrecourse) 10,104 10,288
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711
Deferred income tax liabilities 383 392
Pension and other postretirement benefits - noncurrent 4,656 4,736
Asbestos-related liabilities - noncurrent 645 713
Operating lease liabilities - noncurrent 1,046 984
Other noncurrent obligations 7,383 6,637
Total other noncurrent liabilities (variable interest entities nonrecourse) 14,113 13,462
Common stock (authorized and issued 100 shares of $0.01 par value each) 8 8
Additional Paid in Capital, Common Stock 11,099 9,203
Retained earnings 18,576 20,909
Accumulated other comprehensive loss (7,763) (8,110)
Dow Inc.’s stockholders’ equity 17,541 17,355
Noncontrolling interests 1,523 496
Total equity 19,064 17,851
Total Liabilities and Equity 60,990 57,312
The Dow Chemical Company    
Cash and Cash Equivalents 4,609 2,189
Trade (net of allowance for doubtful receivables - 2025: $71; 2024: $95) 5,044 4,756
Other 2,120 2,116
Inventories 6,675 6,544
Other current assets 1,162 960
Total current assets (variable interest entities restricted) 19,610 16,565
Investment in nonconsolidated affiliates 1,255 1,266
Other investments (investments carried at fair value - 2025: $2,073; 2024: $2,047) 2,812 3,033
Noncurrent receivables 421 374
Total investments 4,488 4,673
Property 65,327 62,121
Less: Accumulated depreciation 42,788 40,117
Net property (variable interest entities restricted) 22,539 22,004
Goodwill 8,690 8,565
Other intangible assets (net of accumulated amortization - 2025: $5,702; 2024: $5,394) 1,546 1,721
Operating lease right-of-use assets 1,314 1,268
Deferred income tax assets 1,418 1,257
Deferred charges and other assets 1,343 1,228
Total other assets (variable interest entities restricted) 14,311 14,039
Total Assets 60,948 57,281
Notes payable 133 135
Long-term debt due within one year 413 497
Accounts payable - Trade 4,535 4,847
Accounts payable - Other 1,673 1,732
Operating lease liabilities - current 324 318
Income taxes payable 271 276
Accrued Liabilities, Current 2,637 2,405
Total current liabilities (variable interest entities nonrecourse) 9,986 10,210
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711
Deferred income tax liabilities 383 392
Pension and other postretirement benefits - noncurrent 4,656 4,736
Asbestos-related liabilities - noncurrent 645 713
Operating lease liabilities - noncurrent 1,046 984
Other noncurrent obligations 7,243 6,503
Total other noncurrent liabilities (variable interest entities nonrecourse) 13,973 13,328
Common stock (authorized and issued 100 shares of $0.01 par value each) 0 0
Additional Paid in Capital, Common Stock 11,798 9,626
Retained earnings 13,722 16,020
Accumulated other comprehensive loss (7,763) (8,110)
Dow Inc.’s stockholders’ equity 17,757 17,536
Noncontrolling interests 1,523 496
Total equity 19,280 18,032
Total Liabilities and Equity $ 60,948 $ 57,281
v3.25.3
TDCC Consolidated Statements of Cash Flows Statement - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Net income (loss) $ (967) $ 1,236
Depreciation and amortization 2,126 2,143
Credit for deferred income tax (179) (134)
Earnings of nonconsolidated affiliates less than dividends received 312 221
Net periodic pension benefit credit (73) (143)
Pension contributions (145) (92)
Net gain on sales of assets, businesses and investments (211) (58)
Restructuring and asset related charges - net 822 69
Other net loss 134 332
Accounts and notes receivable (400) (818)
Inventories (132) (676)
Accounts payable (492) 601
Other assets and liabilities, net (31) (589)
Cash provided by operating activities 748 2,100
Capital expenditures (1,911) (2,173)
Proceeds from incentives related to capital expenditures 132 0
Investment in gas field developments (110) (157)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested 135 36
Acquisitions of property and businesses, net of cash acquired 0 (121)
Investments in and loans to nonconsolidated affiliates (21) (25)
Proceeds from sales of ownership interests in nonconsolidated affiliates 125 0
Purchases of investments (523) (1,381)
Proceeds from sales and maturities of investments 711 2,386
Other investing activities, net 5 (21)
Cash used for investing activities (1,457) (1,456)
Changes in short-term notes payable 36 (61)
Proceeds from issuance of short-term debt greater than three months 50 114
Payments on short-term debt greater than three months (46) (6)
Proceeds from issuance of long-term debt 2,652 1,443
Payments on long-term debt (1,207) (224)
Proceeds from (Repayments of) Accounts Receivable Securitization (3) 28
Proceeds from issuance of stock 0 51
Transaction financing, debt issuance and other costs (130) (13)
Employee taxes paid for share-based payment arrangements (16) (38)
Distributions to noncontrolling interests (93) (49)
Proceeds from Noncontrolling Interests 2,943 0
Dividends paid to stockholders (1,239) (1,474)
Other financing activities, net (6) 0
Cash provided by (used for) financing activities 2,941 (723)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 259 18
Increase (decrease) in cash, cash equivalents and restricted cash 2,491 (61)
Cash, cash equivalents and restricted cash at beginning of period 2,263 3,048
Cash, cash equivalents and restricted cash at end of period 4,754 2,987
Less: Restricted cash and cash equivalents, included in "Other current assets" 145 104
Cash and cash equivalents and end of period 4,609 2,883
The Dow Chemical Company    
Net income (loss) (946) 1,253
Depreciation and amortization 2,126 2,143
Credit for deferred income tax (179) (134)
Earnings of nonconsolidated affiliates less than dividends received 312 221
Net periodic pension benefit credit (73) (143)
Pension contributions (145) (92)
Net gain on sales of assets, businesses and investments (211) (58)
Restructuring and asset related charges - net 822 69
Other net loss 136 333
Accounts and notes receivable (400) (818)
Inventories (132) (676)
Accounts payable (492) 601
Other assets and liabilities, net (72) (583)
Cash provided by operating activities 746 2,116
Capital expenditures (1,911) (2,173)
Proceeds from incentives related to capital expenditures 132 0
Investment in gas field developments (110) (157)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested 135 36
Acquisitions of property and businesses, net of cash acquired 0 (121)
Investments in and loans to nonconsolidated affiliates (21) (25)
Proceeds from sales of ownership interests in nonconsolidated affiliates 125 0
Purchases of investments (523) (1,381)
Proceeds from sales and maturities of investments 711 2,386
Other investing activities, net 5 (21)
Cash used for investing activities (1,457) (1,456)
Changes in short-term notes payable 36 (61)
Proceeds from issuance of short-term debt greater than three months 50 114
Payments on short-term debt greater than three months (46) (6)
Proceeds from issuance of long-term debt 2,652 1,443
Payments on long-term debt (1,207) (224)
Proceeds from (Repayments of) Accounts Receivable Securitization (3) 28
Proceeds from issuance of stock 0 51
Transaction financing, debt issuance and other costs (130) (13)
Employee taxes paid for share-based payment arrangements (16) (38)
Distributions to noncontrolling interests (93) (49)
Proceeds from Noncontrolling Interests 2,943 0
Dividends paid to stockholders (1,237) (1,984)
Other financing activities, net 6 0
Cash provided by (used for) financing activities 2,943 (739)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 259 18
Increase (decrease) in cash, cash equivalents and restricted cash 2,491 (61)
Cash, cash equivalents and restricted cash at beginning of period 2,263 3,048
Cash, cash equivalents and restricted cash at end of period 4,754 2,987
Less: Restricted cash and cash equivalents, included in "Other current assets" 145 104
Cash and cash equivalents and end of period $ 4,609 $ 2,883
v3.25.3
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Dow Inc. [Member]
Retained Earnings [Member]
The Dow Chemical Company
The Dow Chemical Company
Common Stock [Member]
The Dow Chemical Company
Additional Paid-in Capital [Member]
The Dow Chemical Company
Retained Earnings [Member]
The Dow Chemical Company
Accumulated Other Comprehensive Loss
The Dow Chemical Company
Noncontrolling Interests
Total Equity, Beginning at Dec. 31, 2023   $ 8 $ 8,880 $ 21,774 $ (7,681) $ 501     $ 0 $ 9,091 $ 17,495 $ (7,681)  
Stock Issued                   51      
Stock-based compensation and allocation of ESOP shares     285             285      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     0             0      
Net income available for The Dow Chemical Company common stockholder $ 1,169     1,169       $ 1,186     1,186    
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees             $ (2,077)            
Other     0 20             (19)    
Other comprehensive income 178       178     178       178  
Total Equity, Ending at Sep. 30, 2024 18,841 8 9,055 21,459 (7,503) 530   19,039 0 9,427 16,585 (7,503) $ 530
Total Equity, Beginning at Jun. 30, 2024   8 9,012 21,739 (7,785) 482     0 9,341 16,964 (7,785)  
Stock Issued                   0      
Stock-based compensation and allocation of ESOP shares     86             86      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     0             0      
Net income available for The Dow Chemical Company common stockholder 214     214       224     224    
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees             (600)            
Other     0 4             (3)    
Other comprehensive income 282       282     282       282  
Total Equity, Ending at Sep. 30, 2024 18,841 8 9,055 21,459 (7,503) 530   19,039 0 9,427 16,585 (7,503) 530
The Dow Chemical Company’s stockholders’ equity 18,311             18,509          
The Dow Chemical Company’s stockholders’ equity 17,355             17,536          
Total Equity, Beginning at Dec. 31, 2024 17,851 8 9,203 20,909 (8,110) 496   18,032 0 9,626 16,020 (8,110)  
Stock Issued                   0      
Stock-based compensation and allocation of ESOP shares     293             293      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     1,879             1,879      
Net income available for The Dow Chemical Company common stockholder (1,080)     (1,080)       (1,059)     (1,059)    
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees             (1,225)            
Other     0 14             (14)    
Other comprehensive income 347       347     347       347  
Total Equity, Ending at Sep. 30, 2025 19,064 8 11,099 18,576 (7,763) 1,523   19,280 0 11,798 13,722 (7,763) 1,523
Total Equity, Beginning at Jun. 30, 2025   8 10,758 18,766 (7,826) 1,361     0 11,362 13,902 (7,826)  
Stock Issued                   0      
Stock-based compensation and allocation of ESOP shares     97             97      
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable     339             339      
Net income available for The Dow Chemical Company common stockholder 62     62       62     62    
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees             $ (240)            
Other     (1) 3             (2)    
Other comprehensive income 63       63     63       63  
Total Equity, Ending at Sep. 30, 2025 19,064 $ 8 $ 11,099 $ 18,576 $ (7,763) $ 1,523   19,280 $ 0 $ 11,798 $ 13,722 $ (7,763) $ 1,523
The Dow Chemical Company’s stockholders’ equity $ 17,541             $ 17,757          
v3.25.3
Dow Consolidated Statements of Income - Supplemental Info - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Supplemental Income Statement Elements [Abstract]        
Depreciation $ 536 $ 501 $ 1,586 $ 1,470
Capital expenditures $ 564 $ 736 $ 1,911 $ 2,173
v3.25.3
TDCC Consolidated Statements of Income - Supplemental Info - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Depreciation $ 536 $ 501 $ 1,586 $ 1,470
Capital expenditures 564 736 1,911 2,173
The Dow Chemical Company        
Depreciation 536 501 1,586 1,470
Capital expenditures $ 564 $ 736 $ 1,911 $ 2,173
v3.25.3
TDCC Consolidated Balance Sheets Parentheticals - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Accounts Receivable, Allowance for Credit Loss, Current $ 71 $ 95
Total current assets (variable interest entities restricted) 19,646 16,590
Investments, Fair Value Disclosure 2,073 2,047
Net property (variable interest entities restricted) 22,539 22,004
Finite-Lived Intangible Assets, Accumulated Amortization 5,702 5,394
Total other assets (variable interest entities restricted) 14,311 14,039
Total current liabilities (variable interest entities nonrecourse) 10,104 10,288
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711
Total other noncurrent liabilities (variable interest entities nonrecourse) $ 14,113 $ 13,462
Common Stock, Shares, Issued 785,965,252 784,471,939
Common Stock, Shares Authorized 5,000,000,000 5,000,000,000
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Variable Interest Entity, Primary Beneficiary [Member]    
Total current assets (variable interest entities restricted) $ 219 $ 55
Net property (variable interest entities restricted) 2,357 122
Total other assets (variable interest entities restricted) 232 15
Total current liabilities (variable interest entities nonrecourse) 413 24
Long-Term Debt (variable interest entities nonrecourse) 172 0
Total other noncurrent liabilities (variable interest entities nonrecourse) 353 13
The Dow Chemical Company    
Accounts Receivable, Allowance for Credit Loss, Current 71 95
Total current assets (variable interest entities restricted) 19,610 16,565
Net property (variable interest entities restricted) 22,539 22,004
Finite-Lived Intangible Assets, Accumulated Amortization 5,702 5,394
Total other assets (variable interest entities restricted) 14,311 14,039
Total current liabilities (variable interest entities nonrecourse) 9,986 10,210
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711
Total other noncurrent liabilities (variable interest entities nonrecourse) $ 13,973 $ 13,328
Common Stock, Shares, Issued 100 100
Common Stock, Shares Authorized 100 100
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
v3.25.3
CONSOLIDATED FINANCIAL STATEMENTS (Notes)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS
Basis of Presentation
Dow Inc. is the direct parent company of The Dow Chemical Company and its consolidated subsidiaries ("TDCC" and together with Dow Inc., "Dow" or the "Company"). The unaudited interim consolidated financial statements of Dow Inc. and TDCC were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and reflect all adjustments (including normal recurring accruals) which, in the opinion of management, are considered necessary for the fair presentation of the results for the periods presented. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the combined Dow Inc. and TDCC Annual Report on Form 10-K for the year ended December 31, 2024 ("2024 10-K").

As a result of the parent/subsidiary relationship between Dow Inc. and TDCC, and considering that the financial statements and disclosures of each company are substantially similar, the companies are filing a combined report for this Quarterly Report on Form 10-Q. The information reflected in the report is equally applicable to both Dow Inc. and TDCC, except where otherwise noted. Transactions between TDCC and Dow Inc. are treated as related party transactions for TDCC.
Except as otherwise indicated by the context, the term "Union Carbide" means Union Carbide Corporation, a wholly owned subsidiary of the Company. Additionally, the term "Diamond Infrastructure Solutions" means Dow InfraCo, LLC, an entity that owns and operates infrastructure assets at certain Dow locations on the U.S. Gulf Coast and became a consolidated variable interest entity on May 1, 2025. See Notes 17 and 22 for additional information about Diamond Infrastructure Solutions.
v3.25.3
RECENT ACCOUNTING GUIDANCE (Notes)
 9 Months Ended
Sep. 30, 2025
Accounting Changes and Error Corrections [Abstract]  
RECENT ACCOUNTING GUIDANCE RECENT ACCOUNTING GUIDANCE
Recently Adopted Accounting Guidance
In the fourth quarter of 2024, the Company adopted the annual and interim disclosure requirements of Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendments expand a public business entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker ("CODM"), clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures, providing new disclosure requirements for entities with a single reportable segment, and requiring other new disclosures. See Note 23 for applicable reportable segment disclosures required by this guidance.

Accounting Guidance Issued But Not Adopted at September 30, 2025
In December 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures," which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The amendments in this ASU require a public business entity to disclose a tabular tax rate reconciliation, using both percentages and currency, with specific categories. A public business entity is also required to provide a qualitative description of the states and local jurisdictions that make up the majority of the effect of the state and local income tax category and the net amount of income taxes paid, disaggregated by federal, state and foreign taxes and also disaggregated by individual jurisdictions. The amendments also remove certain disclosures that are no longer considered cost beneficial. The amendments are effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. While the adoption of ASU 2023-09 will result in enhanced disclosures, the Company does not expect it will have a material impact on its financial condition or results of operations.

In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses," which is intended to improve disclosures about a public business entity's expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. Such information should allow investors to better understand an entity's performance, assess future cash flows, and compare performance over time and with other entities. The amendments will require public business entities to disclose in the notes to the financial statements, at each interim and annual reporting period, specific information about certain costs and expenses, including purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each expense caption presented on the face of the income statement, and the total amount of an entity's selling expenses. The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, and may be applied either prospectively or retrospectively. Early adoption is permitted. While the adoption of ASU 2024-03 will result in enhanced disclosures, the Company does not expect it will have a material impact on its financial condition or results of operations.

In September 2025, the FASB issued ASU 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software," which is intended to modernize the accounting for the costs of internal-use software given the evolution of software development to the incremental and iterative development method. The amendments remove all references to prescriptive and sequential development stages and, instead, require an entity to start capitalizing software costs when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments are effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period with the amendments to be applied using a prospective, modified or retrospective transition approach. The Company is currently evaluating the impact of adopting this guidance on the consolidated financial statements.
SEC Final Rules Not Adopted at September 30, 2025
In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted final rules under SEC Release Nos. 33-11275 and 34-99678, "The Enhancement and Standardization of Climate-Related Disclosures for Investors," which requires registrants to disclose certain climate-related information in registration statements and annual reports. As a large accelerated filer, most disclosure requirements would be effective for the Company beginning in the year ending December 31, 2025, with certain greenhouse gas emissions disclosures required for the year ending December 31, 2026. In April 2024, the SEC issued an order to stay the final rules until various legal challenges are resolved by the U.S. Court of Appeals for the Eighth Circuit ("Court of Appeals"). In March 2025, the SEC voted to end its defense of the final rules and, in July 2025, the SEC asked the Court of Appeals to resolve the merits of the challenge to the final rules. In September 2025, the Court of Appeals ordered the litigation to be held in abeyance pending further action from the SEC.
v3.25.3
REVENUE (Notes)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] REVENUE
Revenue Recognition
The majority of the Company's revenue is derived from product sales. The Company's revenue related to product sales was 98 percent for the three and nine months ended September 30, 2025 (97 percent and 98 percent for the three and nine months ended September 30, 2024, respectively). The remaining sales were primarily related to the Company's insurance operations and licensing of patents and technologies. Product sales consist of sales of the Company's products to manufacturers and distributors. The Company considers order confirmations or purchase orders, which in some cases are governed by master supply agreements, to be contracts with a customer. The Company enters into licensing arrangements in which it licenses certain rights of its patents and technology to customers. Revenue from the Company’s licenses for patents and technology is derived from sales-based royalties and licensing arrangements based on billing schedules established in each contract.

Remaining Performance Obligations
Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. At September 30, 2025, the Company had unfulfilled performance obligations of $735 million ($759 million at December 31, 2024) related to the licensing of technology. The Company expects revenue to be recognized for the remaining performance obligations over the next five years.

The Company has additional remaining performance obligations for product sales that have expected durations of one year or less, product sales of materials delivered through a pipeline for which the Company has elected the "right to invoice" practical expedient, and variable consideration attributable to royalties for licenses of patents and technology. The Company has received advance payments from customers related to long-term supply agreements that are deferred and recognized over the life of the contract, with remaining contract terms that range up to 18 years. The Company will have rights to future consideration for revenue recognized when product is delivered to the customer. These payments are included in "Accrued and other current liabilities" and "Other noncurrent obligations" in the consolidated balance sheets.
Disaggregation of Revenue
The Company disaggregates its revenue from contracts with customers by operating segment and business, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows. See details in the tables below:

Net Trade Sales by Segment and BusinessThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Hydrocarbons & Energy$1,233 $1,433 $4,161 $4,347 
Packaging and Specialty Plastics3,658 4,083 11,065 12,114 
Packaging & Specialty Plastics$4,891 $5,516 $15,226 $16,461 
Industrial Solutions $1,004 $1,039 $3,043 $3,107 
Polyurethanes & Construction Chemicals1,826 1,919 5,420 5,805 
Other4 4 12 9 
Industrial Intermediates & Infrastructure$2,834 $2,962 $8,475 $8,921 
Coatings & Performance Monomers$809 $891 $2,518 $2,704 
Consumer Solutions1,273 1,323 3,764 3,905 
Performance Materials & Coatings$2,082 $2,214 $6,282 $6,609 
Corporate$166 $187 $525 $568 
Total$9,973 $10,879 $30,508 $32,559 

Net Trade Sales by Geographic RegionThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
U.S. & Canada$3,914 $4,149 $12,129 $12,470 
EMEAI 1
3,090 3,568 9,636 10,624 
Asia Pacific1,838 1,890 5,433 5,712 
Latin America1,131 1,272 3,310 3,753 
Total$9,973 $10,879 $30,508 $32,559 
1.Europe, Middle East, Africa and India.

Contract Assets and Liabilities
The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts related to the Company's contractual right to consideration for completed performance obligations not yet invoiced. Contract liabilities include payments received in advance of performance under the contract and are recognized in revenue when the performance obligations are met. "Contract liabilities - current" primarily reflects deferred revenue from prepayments from customers for product to be delivered in 12 months or less and royalty payments that are deferred and will be recognized in 12 months or less. "Contract liabilities - noncurrent" includes advance payments that the Company has received from customers related to long-term supply agreements and royalty payments that are deferred and recognized over the life of the contract.

Revenue recognized in the first nine months of 2025 from amounts included in contract liabilities at the beginning of the period was approximately $170 million (approximately $135 million in the first nine months of 2024). In the first nine months of 2025 and 2024, the amount of contract assets reclassified to receivables as a result of the right to the transaction consideration becoming unconditional was insignificant.
The following table summarizes contract assets and liabilities at September 30, 2025 and December 31, 2024:

Contract Assets and LiabilitiesBalance Sheet ClassificationSep 30, 2025Dec 31, 2024
In millions
Accounts and notes receivable - tradeAccounts and notes receivable - trade$5,044 $4,756 
Contract assets - noncurrentDeferred charges and other assets$— $2 
Contract liabilities - currentAccrued and other current liabilities$220 $244 
Contract liabilities - noncurrent 1
Other noncurrent obligations$1,791 $1,480 
1.The increase from December 31, 2024 to September 30, 2025 was primarily due to advance payments on long-term supply agreements.
v3.25.3
Acquisitions and Divestitures
 9 Months Ended
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures DIVESTITURES
Divestiture of Soil Fumigation Product Line
On May 1, 2025, the Company sold TeloneTM, a soil fumigation product line, and certain related assets to TriCal Soil Solutions, Inc. ("TriCal"), a distributor and applicator of soil fumigation products, for cash proceeds of $121 million, net of costs to sell and other transaction expenses and subject to customary post-closing adjustments. Under the sale and purchase agreement, Dow retained ownership of the related production assets, which are leased to TriCal as part of a toll manufacturing arrangement that directs the Company to manufacture and deliver certain products to TriCal. These asset leases are classified as operating leases. Dow and TriCal have also entered into a site services agreement related to certain services the Company will provide to TriCal at its site in Stade, Germany. Divested assets included property with a net book value of $5 million and goodwill of $10 million. The Company recognized a pretax gain of $103 million in the second quarter of 2025, included in "Sundry income (expense) - net" in the consolidated statements of income and related to Industrial Intermediates & Infrastructure.

Divestiture of Investment in DowAksa
On August 8, 2025, the Company sold its ownership interest in DowAksa Advanced Composites Holdings BV ("DowAksa"), a nonconsolidated affiliate, to its joint venture partner, Aksa Akrilik Kimya Sanayii A.Ş., for cash proceeds of $121 million, net of costs to sell and other transaction expenses and subject to customary post-closing adjustments. The Company's investment balance in DowAksa was $11 million and the Company recognized a pretax gain of $110 million in the third quarter of 2025, included in "Sundry income (expense) - net" in the consolidated statements of income and related to Corporate.

The Company evaluated the divestitures of its soil fumigation product line and its investment in DowAksa and determined they did not represent strategic shifts that had a major effect on the Company’s operations and financial results and did not qualify as individually significant components of the Company. As a result, the divestitures are not reported as discontinued operations.
v3.25.3
RESTRUCTURING AND ASSET RELATED CHARGES - NET (Notes)
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block] RESTRUCTURING AND ASSET RELATED CHARGES - NET
Charges for restructuring programs and other asset related charges, which include asset impairments, are recorded in "Restructuring and asset related charges - net" in the consolidated statements of income. For additional information on the Company's 2023 Restructuring Program and other asset related charges, see Note 5 to the Consolidated Financial Statements included in the 2024 10-K.

2025 Restructuring Program
On January 27, 2025, the Dow Inc. Board of Directors ("Board") approved targeted actions to further achieve the Company's cost reduction initiatives in response to ongoing macroeconomic uncertainty, while reinforcing its long-term competitiveness across the economic cycle. The actions include a workforce reduction of approximately 1,500 roles. As a result of these actions, in the first quarter of 2025 the Company recorded pretax charges of $207 million for severance and related benefits costs, included in "Restructuring and asset related charges - net" in the consolidated statements of income, related to Corporate. These actions are expected to be substantially complete by the end of 2026.
On June 30, 2025, the Board approved restructuring actions to rationalize the Company's global asset footprint, including certain actions identified as part of the Company's previously announced strategic review of its European assets and certain corporate and other assets, and to enhance the Company's competitiveness over the economic cycle. The program includes asset write-down and write-off charges, severance and related benefit costs and other exit and disposal costs. As a result of these actions, in the second quarter of 2025, the Company recorded pretax restructuring charges of $591 million, consisting of severance and related benefit costs of $154 million, asset write-downs and write-offs of $334 million and costs associated with exit and disposal activities of $103 million. In the third quarter of 2025, the Company recorded additional pretax restructuring charges of $23 million, consisting of asset write-downs and write-offs of $8 million and costs associated with exit and disposal activities of $15 million. The impact of these charges is shown as "Restructuring and asset related charges - net" in the consolidated statements of income. See Note 21 for additional information on nonrecurring fair value measurements. The following table summarizes the activities related to the 2025 Restructuring Program, including segment information:

2025 Restructuring ProgramSeverance and Related Benefit CostsAsset Write-downs and Write-offsCosts Associated with Exit and Disposal ActivitiesTotal
In millions
Corporate$207 $— $— $207 
Total restructuring charges$207 $— $— $207 
Reserve balance at Mar 31, 2025$207 $— $— $207 
Packaging & Specialty Plastics$— $81 $77 $158 
Industrial Intermediates & Infrastructure— 63 26 89 
Performance Materials & Coatings— 147 — 147 
Corporate154 43 — 197 
Total restructuring charges$154 $334 $103 $591 
Charges against the reserve 1
— (334)(103)(437)
Cash payments(16)— — (16)
Reserve balance at Jun 30, 2025$345 $— $— $345 
Packaging & Specialty Plastics$— $3 $— $3 
Industrial Intermediates & Infrastructure— 1 5 6 
Performance Materials & Coatings— 3 — 3 
Corporate— 1 10 11 
Total restructuring charges$— $8 $15 $23 
Charges against the reserve 1
— (8)(15)(23)
Cash payments(66)— — (66)
Reserve balance at Sep 30, 2025$279 $— $— $279 
1.Costs associated with exit and disposal activities relate to asset retirement obligations and pension benefit settlement costs.

At September 30, 2025, $141 million of the restructuring reserve balance was included in "Accrued and other current liabilities" and $138 million was included in "Other noncurrent obligations" in the consolidated balance sheets.

The Company recorded pretax restructuring charges of $821 million inception-to-date under the 2025 Restructuring Program, consisting of severance and related benefit costs of $361 million, asset write-downs and write-offs of $342 million and costs associated with exit and disposal activities of $118 million.

Restructuring implementation costs, primarily decommissioning and demolition activities related to asset actions and costs associated with the Company's restructuring actions, are expected to result in additional cash expenditures of approximately $220 million. Restructuring implementation costs totaled $5 million and $10 million for the three and nine months ended September 30, 2025, respectively.
Severance and Related Benefit Costs
Severance benefits are provided to employees primarily under Dow's ongoing benefit arrangements and are accrued against the Corporate segment once management commits to a plan of termination. The 2025 Restructuring Program included charges for severance and related benefit costs of $361 million. At September 30, 2025, $82 million in severance payments had been made.

Asset Write-downs and Write-offs
The 2025 Restructuring Program included charges related to the write-down and write-off of assets totaling $342 million. Details regarding the asset write-downs and write-offs are as follows:

•Packaging & Specialty Plastics recorded a charge to rationalize its global asset footprint by shutting down an ethylene facility in Böhlen, Germany by the end of 2027.
•Industrial Intermediates & Infrastructure recorded a charge to primarily rationalize its global asset footprint by shutting down certain chlor-alkali and vinyl assets in Schkopau, Germany by the end of 2027.
•Performance Materials & Coatings recorded a charge to primarily rationalize its global asset footprint by shutting down a basics siloxanes plant in Barry, United Kingdom by mid-year 2026.
•Corporate recorded charges related to the write-down of certain Company owned and leased non-manufacturing facilities and other assets.

Costs Associated with Exit and Disposal Activities
In the first nine months of 2025, the Company accrued additional asset retirement obligations of $105 million and wrote off related deferred asset charges associated with the asset shutdowns noted above, resulting in charges of $103 million and $5 million in the second and third quarters of 2025, respectively. See Note 14 for additional information related to the Company’s asset retirement obligations.

The 2025 Restructuring Program also included a pretax charge of $10 million for net pension benefit settlement costs related to participants of a pension plan in Europe that were impacted by the restructuring program, recorded in the third quarter of 2025.

It is reasonably possible the Company will incur approximately $60 million of future charges related to costs associated with exit and disposal activities.

In addition, the Company is assessing potential environmental remediation activities associated with the asset actions noted above, which could result in additional charges and cash payments in the future. The Company intends to continue operating other assets at the sites impacted by these actions.

2023 Restructuring Program
Actions related to the restructuring program approved by the Board on January 25, 2023, were complete at the end of the second quarter of 2025. In the first quarter of 2025, the Company recorded an additional pretax restructuring charge of $5 million for asset write-downs and write-offs and an asset related credit adjustment of $4 million, included in "Restructuring and asset related charges - net" in the consolidated statements of income, related to Industrial Intermediates & Infrastructure. See Note 21 for additional information on nonrecurring fair value measurements. Restructuring implementation and efficiency costs were zero and $50 million for the three and nine months ended September 30, 2025, respectively ($55 million and $157 million for the three and nine months ended September 30, 2024, respectively).
v3.25.3
SUPPLEMENTARY INFORMATION (Notes)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Information Disclosure [Text Block] SUPPLEMENTARY INFORMATION
Dow Inc. Sundry Income (Expense) – NetThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Non-operating pension and other postretirement benefit plan net credits 1
$36 $61 $110 $183 
Foreign exchange gains (losses) 2
12 (14)23 (49)
Gain on sales of other assets and investments 3
5 27 — 46 
Gain on divestiture of ownership interest in DowAksa 4
110 — 110 — 
Gain on divestiture of soil fumigation product line 4
— — 103 — 
Gain (loss) on early extinguishment of debt 5
(18)— (78)5 
Indemnification and other transaction related costs 6
(3)1 (20)2 
Other - net43 44 97 69 
Total sundry income (expense) – net$185 $119 $345 $256 
1.See Note 18 for additional information.
2.Foreign exchange gains for the three and nine months ended September 30, 2025 relate primarily to exposures to the Euro, partially offset by losses in exposures to the Argentine peso. Foreign exchange losses for the three months ended September 30, 2024 relate primarily to exposures in the Argentine peso, while losses in the nine months ended September 30, 2024 relate primarily to exposures in the Egyptian pound and Argentine peso.
3.The three and nine months ended September 30, 2024 include a gain of $25 million associated with a warehouse sale.
4.See Note 4 for additional information.
5.See Note 13 for additional information.
6.Primarily related to charges associated with agreements entered into with DuPont de Nemours, Inc. ("DuPont") and Corteva, Inc. ("Corteva") as part of the separation and distribution.

Sundry income (expense) - net for TDCC for the three and nine months ended September 30, 2025 and 2024 is substantially the same as that of Dow Inc. and, therefore, Sundry income (expense) - net for TDCC is not disclosed separately.

Other Investments
The Company has investments in company-owned life insurance policies, which are recorded at their cash surrender value as of each balance sheet date, as provided below:

Investments in Company-Owned Life InsuranceSep 30, 2025Dec 31, 2024
In millions
Gross cash value$515 $558 
Less: Existing drawdowns 1
197 — 
Less: Accrued interest on drawdowns 2
5 — 
Investments in company-owned life insurance 3
$313 $558 
1.Classified as "Proceeds from sales and maturities of investments" in the consolidated statements of cash flows.
2.Included in "Sundry income (expense) - net" in the consolidated statements of income.
3.Classified as "Other investments" in the consolidated balance sheets.

Supplier Finance Program
The Company facilitates a supply chain financing (“SCF”) program in the ordinary course of business in order to extend payment terms with vendors. Under the terms of this program, a vendor can voluntarily enter into an agreement with a participating financial intermediary to sell its receivables due from the Company. The vendor receives payment from the financial intermediary, and the Company pays the financial intermediary on the terms originally negotiated with the vendor, which generally range from 90 to 120 days. The vendor negotiates the terms of the agreements directly with the financial intermediary and the Company is not a party to that agreement. The financial intermediary may allow the participating vendor to utilize the Company’s creditworthiness in establishing credit spreads and associated costs, which may provide the vendor with more favorable terms than they would be able to secure on their own. The Company does not provide guarantees related to the SCF program. At September 30, 2025, outstanding obligations confirmed as valid under the SCF program were $288 million ($291 million at December 31, 2024), included in “Accounts payable – Trade” in the consolidated balance sheets.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Tax Disclosure INCOME TAXES
As the financial statements for Dow Inc. and TDCC are substantially similar, including the provision (credit) for income taxes, the following income tax discussion does not include reference to TDCC's provision (credit) for income taxes or its effective tax rate.

The Company's effective tax rate fluctuates based on, among other factors, where income is earned, the level of income relative to tax attributes and the level of equity earnings, since most earnings from the Company's equity method investments are taxed at the joint venture level.

The following table provides effective tax rate information for Dow Inc. for the three and nine months ended September 30, 2025 and 2024:

Effective Tax Rate InformationThree Months EndedNine Months Ended
Amounts in millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Income (loss) before income taxes$70 $324 $(963)$1,381 
Provision (credit) for income taxes$(54)$84 $4 $145 
Effective tax rate(77.1)%25.9 %(0.4)%10.5 %

The credit for income taxes for the three months ended September 30, 2025 was impacted by the recording of a tax benefit stemming from the U.S. Tax Court's decision in Varian Medical Systems Inc. v. Commissioner of $100 million and a tax benefit of $20 million related to the sale of an additional portion of the Company's membership interests in Diamond Infrastructure Solutions, partially offset by losses attributable to jurisdictions for which no tax benefit can be recognized. The provision for income taxes for the nine months ended September 30, 2025 was also impacted by the initial sale of a portion of the Company's membership interests in Diamond Infrastructure Solutions resulting in a tax benefit of $89 million, which was offset by valuation allowances in certain foreign jurisdictions of $242 million. See Note 17 for additional information related to the Diamond Infrastructure Solutions transaction.

In the first nine months of 2024, the Company recorded a tax benefit of $194 million related to a reassessment of interest and penalties on a tax matter in a foreign jurisdiction, resulting in a reduced effective tax rate for the period.

On July 4, 2025, U.S. legislation formally titled "An Act to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14” (“the Act”) and commonly referred to as the One Big Beautiful Bill Act was signed into law. The Act, among other things, extended key provisions of the 2017 Tax Cuts and Jobs Act and introduced targeted changes to the U.S. federal income tax regime. Based on the analysis performed by the Company to date, the Act is not expected to have a material impact on the effective tax rate.
v3.25.3
EARNINGS PER SHARE (Notes)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block] EARNINGS PER SHARE CALCULATIONS
The following tables provide earnings per share calculations for Dow Inc. for the three and nine months ended September 30, 2025 and 2024. Earnings per share of TDCC is not presented as this information is not required in financial statements of wholly owned subsidiaries.

Net Income (Loss) for Earnings Per Share CalculationsThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Net income (loss)$124 $240 $(967)$1,236 
Net income attributable to noncontrolling interests62 26 113 67 
Net income attributable to participating securities 1
2 3 9 9 
Net income (loss) attributable to common stockholders$60 $211 $(1,089)$1,160 
1.Restricted stock units are considered participating securities due to the Company's practice of paying dividend equivalents on unvested shares.
Earnings (Loss) Per Share - Basic and DilutedThree Months EndedNine Months Ended
Dollars per shareSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Earnings (loss) per common share - basic$0.08 $0.30 $(1.53)$1.65 
Earnings (loss) per common share - diluted$0.08 $0.30 $(1.53)$1.65 

Share Count InformationThree Months EndedNine Months Ended
Shares in millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Weighted-average common shares outstanding - basic711.8 702.3 709.4 703.5 
Plus dilutive effect of equity compensation plans 1
1.4 1.3 — 1.4 
Weighted-average common shares outstanding - diluted713.2 703.6 709.4 704.9 
Stock units excluded from EPS calculations 2
19.3 10.5 23.6 9.6 
1.The nine months ended September 30, 2025 reflect a net loss and, as such, the basic share count was used for purposes of calculating earnings per share on a diluted basis.
2.These outstanding stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.
v3.25.3
INVENTORIES (Notes)
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
The following table provides a breakdown of inventories:

InventoriesSep 30, 2025Dec 31, 2024
In millions
Finished goods$3,709 $3,773 
Work in process1,300 1,323 
Raw materials839 822 
Supplies1,176 1,039 
Total$7,024 $6,957 
Adjustment of inventories to the LIFO basis(349)(413)
Total inventories$6,675 $6,544 
v3.25.3
NONCONSOLIDATED AFFILIATES (Notes)
 9 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
NONCONSOLIDATED AFFILIATES NONCONSOLIDATED AFFILIATES
For additional information on the Company’s nonconsolidated affiliates, see Note 11 to the Consolidated Financial Statements included in the 2024 10-K.

The Company's investments in companies accounted for using the equity method ("nonconsolidated affiliates"), by classification in the consolidated balance sheets are shown in the following table:

Investments in Nonconsolidated AffiliatesSep 30, 2025Dec 31, 2024
In millions
Investment in nonconsolidated affiliates$1,255 $1,266 
Other noncurrent obligations(892)(568)
Net investment in nonconsolidated affiliates$363 $698 

At September 30, 2025, the Company had a negative investment balance in Sadara Chemical Company of $851 million included in "Other noncurrent obligations" (negative $517 million at December 31, 2024) in the consolidated balance sheets. The increased negative investment in Sadara Chemical Company at September 30, 2025 is due to equity losses generated during the first nine months of 2025 driven by the impact of challenging macroeconomic conditions.
At September 30, 2025, the Company had a negative investment balance in EQUATE Petrochemical Company K.S.C.C of $41 million included in "Other noncurrent obligations" (negative $51 million at December 31, 2024) in the consolidated balance sheets. The decrease in the negative investment was driven by equity earnings, partially offset by dividends distributed to shareholders in the first nine months of 2025.
v3.25.3
GOODWILL AND OTHER INTANGIBLE ASSETS (Notes)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL
The following table shows changes in the carrying amount of goodwill by reportable segment:

GoodwillPackaging & Specialty PlasticsIndustrial Intermediates & InfrastructurePerformance Materials & CoatingsTotal
In millions
Net goodwill at Dec 31, 2024
$5,118 $1,092 $2,355 $8,565 
Divestiture— (10)— (10)
Foreign currency impact13 5 117 135 
Net goodwill at Sep 30, 2025
$5,131 $1,087 $2,472 $8,690 

Goodwill Impairment Testing
In the second quarter of 2025, the Company identified potential indicators of goodwill impairment due to announced restructuring actions and ongoing macroeconomic challenges. As a result, the Company evaluated whether the fair value of any reporting unit may be less than its carrying amount. This assessment indicated that the Consumer Solutions reporting unit, part of the Performance Materials & Coatings segment, required an interim quantitative goodwill impairment test as of June 30, 2025. The test concluded that no goodwill impairment existed, as the fair value of the Consumer Solutions reporting unit exceeded its carrying value. Fair value was estimated using a discounted cash flow model that incorporated current market conditions and the anticipated effects of the restructuring actions. Key assumptions included projected revenue growth, discount rate, tax rate, terminal value, currency exchange rates, and long-term raw material and energy price forecasts.

In the third quarter of 2025, as a result of continued macroeconomic challenges, the Company evaluated whether the fair value of any reporting unit may be less than its carrying amount. This assessment indicated that the Packaging and Specialty Plastics reporting unit, part of the Packaging & Specialty Plastics segment, required an interim quantitative goodwill impairment test as of September 30, 2025. The test concluded that no goodwill impairment existed, as the fair value of the Packaging and Specialty Plastics reporting unit exceeded its carrying value. Fair value was estimated using a discounted cash flow model that incorporated current market conditions. Key assumptions included projected revenue growth, discount rate, tax rate, terminal value, currency exchange rates, and long-term raw material and energy price forecasts.

The Company continues to monitor key factors that could impact the fair value of its reporting units, including changes in macroeconomic conditions or industry-specific trends, deterioration in financial performance, increases in market interest rates or adverse changes in regulatory or competitive environments. If these or other adverse events occur, it may be necessary to perform additional impairment testing, which could result in a future goodwill impairment charge.
v3.25.3
TRANSFERS OF FINANCIAL ASSETS
 3 Months Ended
Sep. 30, 2025
Transfers and Servicing [Abstract]  
TRANSFERS OF FINANCIAL ASSETS TRANSFERS OF FINANCIAL ASSETS
Accounts Receivable Programs
The Company maintains accounts receivable facilities with various financial institutions, with committed and uncommitted facilities in the United States and a committed facility in Europe (collectively, "the Programs"), which are set to expire in November 2025 and are expected to be renewed in the fourth quarter. Under the terms of the Programs, the Company may sell certain eligible trade accounts receivable at any point in time, up to $900 million for the U.S. committed facility and up to €500 million for the Europe committed facility. Under the terms of the Programs, the Company continues to service the receivables from the customer, but retains no interest in the receivables, and remits payment to the financial institutions. Losses on transfers of receivables were insignificant for the three and nine months ended September 30, 2025 and 2024. The Company also provides a guarantee to the financial institutions for the creditworthiness and collection of the receivables in satisfaction of the facility. See Note 14 for additional information related to guarantees.
The Company has access to accounts receivable discounting facilities that cover certain receivables generated from sales in EMEAI, Asia Pacific and Canada (collectively, "the Facilities"). Under the terms of the Facilities, the Company retains no interest in the transferred receivables once sold and receivables are transferred with limited recourse. The Company continues to service the receivables from the customer and remits payment to the Facilities. Losses on transfers of receivables were insignificant for the three and nine months ended September 30, 2025 and 2024.

The following table provides a summary of cash flows related to the Programs and the Facilities for the three and nine months ended September 30, 2025 and 2024:

Cash Flows Related to Transfers of Accounts ReceivableThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Proceeds received from new transfers$— $198 $538 $1,248 

The following table provides the balances related to the Programs and the Facilities at September 30, 2025 and December 31, 2024:

Balances Related to Transfers of Accounts ReceivableSep 30, 2025Dec 31, 2024
In millions
Balance outstanding$6$287
Accounts receivable derecognized $—$278
Amounts recognized in the consolidated balance sheets:
    Accrued and other current liabilities 1
$6$9
1. Represents amounts collected from customers and not yet remitted by the Company.
v3.25.3
NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Notes)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt Disclosure NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES
Notes PayableSep 30, 2025Dec 31, 2024
In millions
Notes payable to banks and other lenders$133$135
Period-end average interest rates40.08 %36.03 %
Long-Term Debt
2025 Average Rate
Sep 30, 2025
2024 Average Rate
Dec 31, 2024
In millions
Promissory notes and debentures:
Final maturity 20254.55 %$208 5.63 %$333 
Final maturity 20284.80 %600 4.80 %600 
Final maturity 2029 1
7.53 %951 7.58 %1,368 
Final maturity 20302.10 %818 2.10 %818 
Final maturity 2031 and thereafter 1
5.41 %11,561 5.37 %9,192 
Other facilities:
Foreign currency notes and loans, various rates and maturities 1
2.56 %2,244 2.01 %2,540 
InterNotes®, varying maturities through 2053
4.71 %891 4.31 %661 
Medium-term notes, maturity 20254.75 %1 4.75 %1 
Finance lease obligations 2
1,079 939 
Unamortized debt discount and issuance costs(231)(244)
Long-term debt due within one year 3
(413)(497)
Long-term debt$17,709 $15,711 
1.Cost includes net fair value hedge adjustment gains of $35 million at September 30, 2025 ($9 million at December 31, 2024). See Note 20 for additional information.
2.See Note 15 for additional information.
3.Presented net of current portion of unamortized debt issuance costs.
Maturities of Long-Term Debt for Next Five Years at Sep 30, 2025
In millions
2025$245 
2026$207 
2027$782 
2028$750 
2029$1,061 
2030$996 

2025 Activity
In the first quarter of 2025, the Company completed debt neutral liability management activities. The Company issued $1 billion of senior unsecured notes. The offering included $400 million aggregate principal amount of 5.35 percent notes due 2035 and $600 million aggregate principal amount of 5.95 percent notes due 2055. The Company used the proceeds to complete cash tender offers for certain debt securities. In total, $943 million aggregate principal amount was tendered and retired. As a result, the Company recognized a pretax loss of $60 million on the early extinguishment of debt, included in "Sundry income (expense) - net" in the consolidated statements of income, related to Corporate.

In the third quarter of 2025, the Company issued $1.4 billion of senior unsecured notes. The offering included $750 million aggregate principal amount of 4.80 percent notes due 2031 and $650 million aggregate principal amount of 5.65 percent notes due 2036. Additionally, the Company redeemed $55 million aggregate principal amount of 9.40 percent notes due 2039. As a result of the redemption, the Company recognized a pretax loss of $18 million on the early extinguishment of debt, included in "Sundry income (expense) - net" in the consolidated statements of income, related to Corporate.

In the first nine months of 2025, the Company issued an aggregate principal amount of $252 million of InterNotes®. Additionally, the Company repaid $125 million of long-term debt at maturity.

Available Credit Facilities
The following table summarizes the Company's credit facilities:

Committed and Available Credit Facilities at Sep 30, 2025
In millionsCommitted CreditAvailable CreditMaturity DateInterest
Five Year Competitive Advance and Revolving Credit Facility$5,000 $5,000 June 2030Floating rate
Bilateral Revolving Credit Facility300 300 November 2025Floating rate
Bilateral Revolving Credit Facility300 300 February 2026Floating rate
Bilateral Revolving Credit Facility100 100 March 2026Floating rate
Bilateral Revolving Credit Facility375 375 October 2026Floating rate
Bilateral Revolving Credit Facility150 150 November 2026Floating rate
Bilateral Revolving Credit Facility200 200 November 2026Floating rate
Bilateral Revolving Credit Facility250 250 March 2027Floating rate
Bilateral Revolving Credit Facility100 100 May 2027Floating rate
Bilateral Revolving Credit Facility350 350 June 2027Floating rate
Bilateral Revolving Credit Facility200 200 September 2027Floating rate
Bilateral Revolving Credit Facility100 100 October 2027Floating rate
Bilateral Revolving Credit Facility100 100 March 2028Floating rate
Bilateral Revolving Credit Facility100 100 March 2028Floating rate
Bilateral Revolving Credit Facility300 300 May 2028Floating rate
Bilateral Revolving Credit Facility200 200 September 2028Floating rate
Bilateral Revolving Credit Facility175 175 September 2028Floating rate
Bilateral Revolving Credit Facility100 100 June 2030Floating rate
Total committed and available credit facilities$8,400 $8,400 
Debt Covenants and Default Provisions
There were no material changes to the debt covenants and default provisions related to the Company's outstanding long-term debt and primary, private credit agreements in the first nine months of 2025. For additional information on the Company's debt covenants and default provisions, see Note 14 to the Consolidated Financial Statements included in the 2024 10-K.
v3.25.3
COMMITMENTS AND CONTINGENCIES (Notes)
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure COMMITMENTS AND CONTINGENCIES
A summary of the Company's commitments and contingencies can be found in Note 15 to the Consolidated Financial Statements included in the 2024 10-K, which is incorporated by reference herein.

Environmental Matters
Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. At September 30, 2025, the Company had accrued obligations of $1,044 million for probable environmental remediation and restoration costs ($1,113 million at December 31, 2024), including $220 million for the remediation of Superfund sites ($234 million at December 31, 2024). This is management’s best estimate of the costs for remediation and restoration with respect to environmental matters for which the Company has accrued liabilities, although it is reasonably possible that the ultimate cost with respect to these particular matters could range up to approximately two times that amount. Consequently, it is reasonably possible that environmental remediation and restoration costs in excess of amounts accrued could have a material impact on the Company's results of operations, financial condition and cash flows. It is the opinion of the Company’s management, however, that the possibility is remote that costs in excess of the range disclosed will have a material impact on the Company’s results of operations, financial condition and cash flows. Inherent uncertainties exist in these estimates primarily due to unknown conditions, changing governmental regulations and legal standards regarding liability, and emerging remediation technologies for handling site remediation and restoration. As new or additional information becomes available and/or certain spending trends become known, management will evaluate such information in determination of the current estimate of environmental liability.

Litigation
Asbestos-Related Matters of Union Carbide Corporation
Each quarter, Union Carbide reviews asbestos-related claims filed, settled and dismissed, as well as average settlement and resolution costs by disease category. Union Carbide also considers additional quantitative and qualitative factors such as the nature of pending claims, trial experience of Union Carbide and other asbestos defendants, current spending for defense and processing costs, significant appellate rulings and legislative developments, trends in the tort system, and their respective effects on expected future resolution costs. Union Carbide's management considers these factors in conjunction with the most recent actuarial study and determines whether a change in the estimate is warranted. Based on Union Carbide's review of 2025 activity, it was determined that no adjustment to the accrual was required at September 30, 2025.

Union Carbide’s total asbestos-related liability for pending and future claims and defense and processing costs was $726 million at September 30, 2025 ($791 million at December 31, 2024). At September 30, 2025, approximately 26 percent of the recorded claim liability related to pending claims and approximately 74 percent related to future claims.

Legacy Matters
Groundwater Matters
The Company is the subject of various complaints related to alleged groundwater contamination based on decades-old sales and applications of certain agricultural chemical products ("Groundwater Matters"). The costs associated with these Groundwater Matters were previously covered by insurance policies that have since been depleted. In the first quarter of 2023, the Company completed a study of certain Groundwater Matters related to wells deemed to be probable and estimable based on the public reporting of sampling data and historical information to develop a reasonable estimate of the cost of pending and future claims and accrued a charge based on the estimate. In the second quarter of 2025, the Company completed a reassessment study of these Groundwater Matters based on current known factors, resulting in a reduced estimate of the cost of pending and future claims. As a result, the Company recorded a pretax credit of $106 million, included in "Cost of sales" in the consolidated statements of income and related to Corporate. In the second quarter of 2025, the Company settled a separate claim related to Groundwater Matters at a water storage district, resulting in a pretax charge of $64 million, included in "Cost of sales" in the consolidated statements of income and related to Corporate.
At September 30, 2025, the total liability related to settled claims and the probable and estimable settlement of all alleged Groundwater Matters was $78 million ($155 million at December 31, 2024), which was included in “Accrued and other current liabilities” and "Other noncurrent obligations" in the consolidated balance sheets.

The Company is also the subject of other groundwater contamination complaints, including claims related to 1,4-dioxane. The Company continues to defend itself in this litigation and has determined that the Company's exposure to liability, if any, is not probable or estimable at September 30, 2025.

Other Legacy Matters
On October 10, 2024, the Company executed a settlement agreement related to arbitration for historical product claims from a divested business. As a result, the Company recorded a pretax charge of $75 million in the third quarter of 2024, which was paid in the fourth quarter of 2024. Arbitration on the matter was concluded on March 11, 2025, and, as a result, the Company recorded an additional pretax charge of $98 million in the first quarter of 2025, which is included in "Cost of sales" in the consolidated statements of income, related to Corporate, and was paid in the second quarter of 2025.

Gain Contingency - Dow v. Nova Chemicals Corporation Ethylene Asset Matter
In 2019, the Court of King's Bench of Alberta, Canada ("Court") found Nova Chemicals Corporation ("Nova") liable for engaging in a deliberate and continuing course of conduct of conversion, breach of contract, gross negligence and willful misconduct in the operation of the companies’ jointly-owned ethylene asset in Joffre, Alberta, Canada. As a result of the liability finding, which is now final and non-appealable, the Court signed a judgment ordering Nova to pay $1.43 billion Canadian dollars (equivalent to approximately $1.08 billion U.S. dollars) for damages incurred through 2012. Nova made payment in October 2019. At September 30, 2025, $201 million ($201 million at December 31, 2024) was included in "Other noncurrent obligations" in the Company's consolidated balance sheets related to the disputed portion of the damages judgment.

Following an appeal, on June 10, 2025, the Court signed a separate judgment ordering Nova to pay an additional amount of $1.62 billion Canadian dollars (equivalent to approximately $1.2 billion U.S. dollars) for damages incurred through June 2018, which had not been previously quantified. The Court again found that Nova failed to operate the companies' jointly-owned ethylene asset at full capacity during this time, depriving the Company’s subsidiaries of millions of pounds of ethylene. On August 11, 2025, the Court also awarded fees of approximately $100 million U.S. dollars, bringing Nova’s current payment obligation to approximately $1.3 billion U.S. dollars. While those awards are subject to appeal, Alberta law requires Nova to satisfy the Court’s judgment in full notwithstanding its appeal in order to avoid enforcement measures during the appeal process. Nova has since requested that the Court of Appeal of Alberta stay the execution of the judgment pending its appeal. Nova’s request departs from well-established Alberta law, and would require Nova to show, among other things, that it would be irreparably harmed by making the required payment. Nova’s request for a stay has been fully briefed and argued, and a decision is expected by year-end 2025. It is the Company’s position that Nova cannot meet the legal standard necessary to receive a stay and avoid payment pending its appeal. We expect a decision on the stay from the Court of Appeal of Alberta by year-end 2025. If the Court of Appeal of Alberta grants the stay, Nova will not be required to pay the judgment to the Company while the appeal process is ongoing.

Guarantees
The following table provides a summary of the final expiration, maximum future payments and recorded liability included in the consolidated balance sheets for guarantees:

GuaranteesSep 30, 2025Dec 31, 2024
In millionsFinal
Expiration		Maximum
Future Payments 		Recorded Liability Final
Expiration		Maximum
Future Payments 		Recorded Liability
Guarantees2038$1,223 $138 2038$1,456 $155 
Guarantees arise during the ordinary course of business from relationships with customers, accounts receivable facilities and nonconsolidated affiliates when the Company undertakes an obligation to guarantee the performance of others (via delivery of cash or other assets) if specified triggering events occur. With guarantees, such as commercial or financial contracts, non-performance by the guaranteed party triggers the obligation of the Company to make payments to the beneficiary of the guarantee. The majority of the Company’s guarantees relate to debt of nonconsolidated affiliates, which have expiration dates ranging from less than one year to 13 years. The Company’s current expectation is that future payment or performance related to the non-performance of others is considered remote.

The Company maintains accounts receivable facilities with various financial institutions, with committed and uncommitted facilities in the United States and a committed facility in Europe. Under the terms of the Programs, the Company continues to service the receivables from the customers, but retains no interest in the receivables, and remits payment to the financial institutions. The Company also has access to accounts receivable discounting facilities, under which receivables are transferred with limited recourse. The Company’s maximum guaranteed liability for the accounts receivable facilities is zero at September 30, 2025 ($239 million at December 31, 2024).

TDCC has entered into guarantee agreements related to Sadara, a nonconsolidated affiliate. Sadara reached an agreement with its lenders to re-profile its outstanding project financing debt in the first quarter of 2021. In conjunction with the debt re-profiling, TDCC entered into a guarantee of up to approximately $1.3 billion of Sadara’s debt, proportionate to the Company's 35 percent ownership interest. The debt re-profiling also includes a grace period until June 2026, during which Sadara is obligated to make interest-only payments which are guaranteed by TDCC in proportion to the Company’s 35 percent ownership interest. The Company does not expect to be required to perform under the guarantees. As part of the debt re-profiling, Sadara established a $500 million revolving credit facility guaranteed by Dow, which would be used to fund Dow’s pro-rata share of any potential shortfall during the grace period.

Asset Retirement Obligations
Asset retirement obligations are recorded as incurred and reasonably estimable, including obligations for which the timing and/or method of settlement are conditional on a future event that may or may not be within the control of the Company. The retirement of assets may involve such efforts as remediation and treatment of asbestos, contractually required demolition, and other related activities, depending on the nature and location of the assets; and retirement obligations are typically realized only upon demolition of those facilities. As a result of the asset shutdowns included in the restructuring activities discussed in Note 5, the Company accrued additional asset retirement obligations of $105 million in the first nine months of 2025. At September 30, 2025, the aggregate carrying amount of the Company's asset retirement obligations was $306 million ($174 million at December 31, 2024), which was included in "Accrued and other current liabilities" and "Other noncurrent obligations" in the consolidated balance sheets.
v3.25.3
LEASES (Notes)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Lessee, Operating And Finance Leases LEASES
For additional information on the Company's leases, see Note 16 to the Consolidated Financial Statements included in the 2024 10-K.

The components of lease cost for operating and finance leases for the three and nine months ended September 30, 2025 and 2024 were as follows:

Lease CostThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Operating lease cost$104 $112 $319 $329 
Finance lease cost
Amortization of right-of-use assets - finance33 31 97 86 
Interest on lease liabilities - finance13 11 37 33 
Total finance lease cost46 42 134 119 
Short-term lease cost77 80 244 242 
Variable lease cost304 280 842 803 
Sublease income(3)(2)(6)(7)
Total lease cost$528 $512 $1,533 $1,486 

The following table provides supplemental cash flow and other information related to leases:

Other Lease InformationNine Months Ended
In millionsSep 30, 2025Sep 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$329 $334 
Operating cash flows for finance leases$37 $33 
Financing cash flows for finance leases$83 $95 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$262 $186 
Finance leases$202 $183 
v3.25.3
Accumulated Other Comprehensive Loss (Notes)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Comprehensive Income (Loss) Note ACCUMULATED OTHER COMPREHENSIVE LOSS
The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and nine months ended September 30, 2025 and 2024 were as follows:

Accumulated Other Comprehensive LossThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Unrealized Gains (Losses) on Investments
Beginning balance$(233)$(198)$(243)$(253)
Unrealized gains (losses) on investments63 59 78 139 
Tax (expense) benefit(8)(15)(13)(35)
Net unrealized gains (losses) on investments55 44 65 104 
(Gains) losses reclassified from AOCL to net income (loss) 1
3 (12)3 (19)
Tax expense (benefit) 2
(1)2 (1)4 
Net (gains) losses reclassified from AOCL to net income (loss)2 (10)2 (15)
Other comprehensive income (loss), net of tax57 34 67 89 
Ending balance$(176)$(164)$(176)$(164)
Cumulative Translation Adjustments
Beginning balance$(1,812)$(2,056)$(2,063)$(1,891)
Gains (losses) on foreign currency translation(69)197 186 42 
Tax (expense) benefit47 8 62 5 
Net gains (losses) on foreign currency translation(22)205 248 47 
(Gains) losses reclassified from AOCL to net income (loss) 3
(11)(6)(30)(13)
Other comprehensive income (loss), net of tax(33)199 218 34 
Ending balance$(1,845)$(1,857)$(1,845)$(1,857)
Pension and Other Postretirement Benefit Plans
Beginning balance$(5,679)$(5,452)$(5,720)$(5,486)
Gains (losses) arising during the period(1)2 — 2 
Amortization of net loss and prior service credits reclassified from AOCL to net income (loss) 4
36 21 88 64 
Tax expense (benefit) 2
(7)(5)(19)(14)
Net loss and prior service credits reclassified from AOCL to net income (loss)29 16 69 50 
Other comprehensive income (loss), net of tax28 18 69 52 
Ending balance$(5,651)$(5,434)$(5,651)$(5,434)
Derivative Instruments
Beginning balance$(102)$(79)$(84)$(51)
Gains (losses) on derivative instruments(4)37 (13)(9)
Tax (expense) benefit2 (9)(4)2 
Net gains (losses) on derivative instruments(2)28 (17)(7)
(Gains) losses reclassified from AOCL to net income (loss) 5
17 4 14 13 
Tax expense (benefit) 2
(4)(1)(4)(3)
Net (gains) losses reclassified from AOCL to net income (loss)13 3 10 10 
Other comprehensive income (loss), net of tax11 31 (7)3 
Ending balance$(91)$(48)$(91)$(48)
Total AOCL ending balance$(7,763)$(7,503)$(7,763)$(7,503)
1.Reclassified to "Net sales" and "Sundry income (expense) - net."
2.Reclassified to "Provision (credit) for income taxes."
3.Reclassified to "Sundry income (expense) - net."
4.These AOCL components are included in the computation of net periodic benefit cost (credit) of the Company's defined benefit pension and other postretirement benefit plans. See Note 18 for additional information.
5.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."
Stockholders' Equity Note Disclosure [Text Block]
The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and nine months ended September 30, 2025 and 2024 were as follows:

Accumulated Other Comprehensive LossThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Unrealized Gains (Losses) on Investments
Beginning balance$(233)$(198)$(243)$(253)
Unrealized gains (losses) on investments63 59 78 139 
Tax (expense) benefit(8)(15)(13)(35)
Net unrealized gains (losses) on investments55 44 65 104 
(Gains) losses reclassified from AOCL to net income (loss) 1
3 (12)3 (19)
Tax expense (benefit) 2
(1)2 (1)4 
Net (gains) losses reclassified from AOCL to net income (loss)2 (10)2 (15)
Other comprehensive income (loss), net of tax57 34 67 89 
Ending balance$(176)$(164)$(176)$(164)
Cumulative Translation Adjustments
Beginning balance$(1,812)$(2,056)$(2,063)$(1,891)
Gains (losses) on foreign currency translation(69)197 186 42 
Tax (expense) benefit47 8 62 5 
Net gains (losses) on foreign currency translation(22)205 248 47 
(Gains) losses reclassified from AOCL to net income (loss) 3
(11)(6)(30)(13)
Other comprehensive income (loss), net of tax(33)199 218 34 
Ending balance$(1,845)$(1,857)$(1,845)$(1,857)
Pension and Other Postretirement Benefit Plans
Beginning balance$(5,679)$(5,452)$(5,720)$(5,486)
Gains (losses) arising during the period(1)2 — 2 
Amortization of net loss and prior service credits reclassified from AOCL to net income (loss) 4
36 21 88 64 
Tax expense (benefit) 2
(7)(5)(19)(14)
Net loss and prior service credits reclassified from AOCL to net income (loss)29 16 69 50 
Other comprehensive income (loss), net of tax28 18 69 52 
Ending balance$(5,651)$(5,434)$(5,651)$(5,434)
Derivative Instruments
Beginning balance$(102)$(79)$(84)$(51)
Gains (losses) on derivative instruments(4)37 (13)(9)
Tax (expense) benefit2 (9)(4)2 
Net gains (losses) on derivative instruments(2)28 (17)(7)
(Gains) losses reclassified from AOCL to net income (loss) 5
17 4 14 13 
Tax expense (benefit) 2
(4)(1)(4)(3)
Net (gains) losses reclassified from AOCL to net income (loss)13 3 10 10 
Other comprehensive income (loss), net of tax11 31 (7)3 
Ending balance$(91)$(48)$(91)$(48)
Total AOCL ending balance$(7,763)$(7,503)$(7,763)$(7,503)
1.Reclassified to "Net sales" and "Sundry income (expense) - net."
2.Reclassified to "Provision (credit) for income taxes."
3.Reclassified to "Sundry income (expense) - net."
4.These AOCL components are included in the computation of net periodic benefit cost (credit) of the Company's defined benefit pension and other postretirement benefit plans. See Note 18 for additional information.
5.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."
v3.25.3
NONCONTROLLING INTERESTS Noncontrolling Interests
 9 Months Ended
Sep. 30, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Disclosure [Text Block] NONCONTROLLING INTERESTS
Ownership interests in the Company's subsidiaries held by parties other than the Company are presented separately from the Company's equity in the consolidated balance sheets as "Noncontrolling interests." The amount of consolidated net income attributable to the Company and the noncontrolling interests are both presented on the face of the consolidated statements of income.

On May 1, 2025, TDCC sold 40 percent of the membership interests in Diamond Infrastructure Solutions to InfraPark Holdings, LLC ("InfraPark"), a subsidiary of a fund managed by Macquarie Asset Management, a global infrastructure and energy asset manager, in exchange for cash proceeds of approximately $2.4 billion, inclusive of customary post-closing adjustments. On August 29, 2025, as provided under the terms of the sale and purchase agreement, InfraPark exercised its option to purchase an additional 9 percent of Diamond Infrastructure Solutions' membership interests in exchange for proceeds of approximately $540 million. Diamond Infrastructure Solutions and its subsidiaries own and operate certain non-product producing energy, environmental, pipeline and other related infrastructure assets located at five of the Company's manufacturing sites on the U.S. Gulf Coast and provide infrastructure services to Dow manufacturing assets and other third-party tenants at these locations. InfraPark's ownership is accounted for as a noncontrolling interest in Diamond Infrastructure Solutions.

Cash proceeds from the sale of membership interests are included in "Proceeds from sale of noncontrolling interests" in the consolidated statements of cash flows. The transactions resulted in an increase in "Additional paid-in capital" of $339 million and $1,879 million and an increase in "Noncontrolling interests" of $194 million and $1,028 million for the three and nine months ended September 30, 2025, respectively, recorded in the consolidated balance sheets and the consolidated statements of equity.

The following table summarizes the activity for equity attributable to noncontrolling interests for the three and nine months ended September 30, 2025 and 2024:

Noncontrolling InterestsThree Months EndedNine Months Ended

In millions
Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Balance at beginning of period$1,361 $482 $496 $501 
Net income attributable to noncontrolling interests62 26 113 67 
Distributions to noncontrolling interests 1
(89)(2)(137)(41)
Cumulative translation adjustments(5)24 23 4 
Sale of noncontrolling interests194 — 1,028 — 
Other— — — (1)
Balance at end of period$1,523 $530 $1,523 $530 
1. Includes dividends paid to a joint venture of zero and $8 million for the three and nine months ended September 30, 2025 ($8 million for the three and nine months ended September 30, 2024) which were reclassified to "Equity in earnings (losses) of nonconsolidated affiliates" in the consolidated statements of income. The three and nine months ended September 30, 2025 also include $51 million of dividends declared but not paid, included in "Accrued and other current liabilities" in the consolidated balance sheets.
v3.25.3
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block] PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
A summary of the Company's pension and other postretirement benefit plans can be found in Note 19 to the Consolidated Financial Statements included in the 2024 10-K. The following table provides the components of the Company's net periodic benefit cost (credit) for all significant plans:

Net Periodic Benefit Cost (Credit) for All Significant Plans Three Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Defined Benefit Pension Plans
Service cost$12 $14 $33 $42 
Interest cost 251 252 746 754 
Expected return on plan assets (324)(345)(965)(1,034)
Amortization of prior service credit(4)(3)(10)(10)
Amortization of net loss42 34 123 105 
Settlement cost 1
10 — 10 — 
Net periodic benefit credit$(13)$(48)$(63)$(143)
Other Postretirement Benefit Plans
Service cost $— $1 $2 $3 
Interest cost 11 11 31 33 
Amortization of net gain(12)(10)(35)(31)
Net periodic benefit cost (credit)$(1)$2 $(2)$5 
1.Related to the settlement of certain plan obligations of a European plan resulting from the 2025 Restructuring Program. See Note 5 for additional information.

Except for the settlement cost component related to the 2025 Restructuring Program, which is included in "Restructuring and asset related charges - net" in the consolidated statements of income, the non-service cost components of net periodic benefit cost (credit) are included in "Sundry income (expense) - net" in the consolidated statements of income.
v3.25.3
STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement [Text Block] STOCK-BASED COMPENSATION
A summary of the Company's stock-based compensation plans can be found in Note 20 to the Consolidated Financial Statements included in the 2024 10-K.

Stock Incentive Plan
The Company grants stock-based compensation to employees and non-employee directors under the 2019 Stock Incentive Plan, as amended. Most of the Company's stock-based compensation awards are granted in the first quarter of each year.

In the first quarter of 2025, Dow Inc. granted the following stock-based compensation awards to employees:
•1.8 million stock options with a weighted-average exercise price of $38.34 per share and a weighted-average fair value of $8.27 per share;
•3.0 million restricted stock units with a weighted-average fair value of $38.34 per share; and
•2.1 million performance stock units with a weighted-average fair value of $38.46 per share.

There was minimal grant activity in the second and third quarters of 2025.

Employee Stock Purchase Plan
The Dow Inc. 2021 Employee Stock Purchase Plan (the "2021 ESPP") was adopted by the Board on February 11, 2021, and approved by stockholders at the Company's annual meeting on April 15, 2021. Under the 2025 annual offering of the 2021 ESPP, most employees will be eligible to purchase shares of common stock of Dow Inc. valued at up to 10 percent of their annual total base salary or wages. The number of shares purchased is determined using the amount contributed by the employee divided by the plan price. The plan price of the stock is equal to 85 percent
of the fair market value (closing price) of the common stock at March 31, 2025 (beginning) or October 3, 2025 (ending) of the offering period, whichever is lower.

In the first quarter of 2025, employees subscribed to the right to purchase shares under the 2021 ESPP. In October 2025, 4.2 million shares were delivered to employees under the plan.
v3.25.3
Financial Instruments (Notes)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
A summary of the Company's financial instruments, risk management policies, derivative instruments and hedging activities can be found in Note 21 to the Consolidated Financial Statements included in the 2024 10-K.

Refer to Note 21 for a summary of the fair value of financial instruments at September 30, 2025 and December 31, 2024.

Debt Securities
The Company's investments in debt securities are primarily classified as available-for-sale. The following table provides investing results from available-for-sale securities for the nine months ended September 30, 2025 and 2024:

Investing ResultsNine Months Ended
In millionsSep 30, 2025Sep 30, 2024
Proceeds from sales of available-for-sale securities$320 $1,730 
Gross realized gains$6 $34 
Gross realized losses $(9)$(15)

The following table summarizes contractual maturities of the Company's investments in debt securities:

Contractual Maturities of Debt Securities at Sep 30, 2025
 CostFair Value
In millions
Within one year$113 $108 
One to five years1,113 1,039 
Six to ten years446 448 
After ten years549 468 
Total$2,221 $2,063 

Equity Securities
There were no material adjustments to the carrying value of the not readily determinable investments for impairment or observable price changes for the three and nine months ended September 30, 2025. There was $2 million of net unrealized losses recognized in earnings on equity securities for the three months ended September 30, 2025 ($1 million of net unrealized losses for the three months ended September 30, 2024). There was $4 million of net unrealized losses recognized in earnings on equity securities for the nine months ended September 30, 2025 ($1 million of net unrealized losses for the nine months ended September 30, 2024).

Investments in Equity SecuritiesSep 30, 2025Dec 31, 2024
In millions
Readily determinable fair value$10 $14 
Not readily determinable fair value$170 $153 
Derivative Instruments
The notional amounts of the Company's derivative instruments at September 30, 2025 and December 31, 2024 were as follows:

Notional Amounts 1
Sep 30, 2025Dec 31, 2024
In millions
Derivatives designated as hedging instruments:
Interest rate contracts$500 $1,870 
Foreign currency contracts$6,910 $3,144 
Derivatives not designated as hedging instruments:
Interest rate contracts$353 $14 
Foreign currency contracts$22,776 $9,244 
1.Notional amounts represent the absolute value of open derivative positions at the end of the period. Multi-leg option positions are reflected at the maximum notional position at expiration.

The notional amounts of the Company's commodity derivatives at September 30, 2025 and December 31, 2024 were as follows:

Commodity Notionals 1
Sep 30, 2025Dec 31, 2024Notional Volume Unit
Derivatives designated as hedging instruments:
Hydrocarbon derivatives2.6 3.2 million barrels of oil equivalent
Derivatives not designated as hedging instruments:
Hydrocarbon derivatives1.0 1.1 million barrels of oil equivalent
1.Notional amounts represent the net volume of open derivative positions outstanding at the end of the period.

Maximum Maturity Dates of Derivatives Designated as Hedging InstrumentsYear
Interest rate contracts2027
Foreign currency contracts2026
Commodity contracts2028
The following table provides the fair value and balance sheet classification of derivative instruments at September 30, 2025 and December 31, 2024:

Fair Value of Derivative InstrumentsSep 30, 2025Dec 31, 2024
In millionsGross
Counterparty and Cash Collateral Netting 1
Net 2
Gross
Counterparty and Cash Collateral Netting 1
Net 2
Asset derivatives
Derivatives designated as hedging instruments:
Interest rate contracts 3
$1 $— $1 $20 $(20)$— 
Interest rate contracts 4
16 (11)5 — — — 
Foreign currency contracts 3
82 (58)24 33 (15)18 
Foreign currency contracts 4
7 (6)1 — — — 
Commodity contracts 3
124 (105)19 25 (14)11 
Commodity contracts 4
74 (65)9 46 (36)10 
Total$304 $(245)$59 $124 $(85)$39 
Derivatives not designated as hedging instruments:
Interest rate contracts 3
$2 $(2)$— $— $— $— 
Foreign currency contracts 3
68 (38)30 74 (16)58 
Commodity contracts 3
20 (9)11 16 (1)15 
Commodity contracts 4
3 (2)1 4 (3)1 
Total$93 $(51)$42 $94 $(20)$74 
Total asset derivatives $397 $(296)$101 $218 $(105)$113 
Liability derivatives
Derivatives designated as hedging instruments:
Interest rate contracts 5
$— $— $— $46 $(20)$26 
Interest rate contracts 6
11 (11)— — — — 
Foreign currency contracts 5
131 (58)73 75 (15)60 
Foreign currency contracts 6
13 (6)7 40 — 40 
Commodity contracts 5
116 (106)10 16 (14)2 
Commodity contracts 6
72 (65)7 37 (36)1 
Total$343 $(246)$97 $214 $(85)$129 
Derivatives not designated as hedging instruments:
Interest rate contracts 5
$2 $(2)$— $1 $— $1 
Foreign currency contracts 5
86 (38)48 27 (16)11 
Commodity contracts 5
14 (10)4 8 (1)7 
Commodity contracts 6
3 (2)1 4 (3)1 
Total$105 $(52)$53 $40 $(20)$20 
Total liability derivatives $448 $(298)$150 $254 $(105)$149 
1.Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the Company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.
2.Represents the net amounts included in the consolidated balance sheets.
3.Included in "Other current assets" in the consolidated balance sheets.
4.Included in "Deferred charges and other assets" in the consolidated balance sheets.
5.Included in "Accrued and other current liabilities" in the consolidated balance sheets.
6.Included in "Other noncurrent obligations" in the consolidated balance sheets.

Assets and liabilities related to forward contracts, interest rate swaps, currency swaps, options and other conditional or exchange contracts executed with the same counterparty under a master netting arrangement are netted. Collateral accounts are netted with corresponding assets or liabilities, when applicable. The Company posted cash collateral of $11 million at September 30, 2025 ($16 million at December 31, 2024). No cash collateral was posted by counterparties with the Company at September 30, 2025 and December 31, 2024.
The following table summarizes the gain (loss) of derivative instruments in the consolidated statements of income and comprehensive income for the three and nine months ended September 30, 2025 and 2024:

Effect of Derivative Instruments
Gain (loss) recognized in OCI 1
Gain (loss) recognized in income 2
Three Months EndedNine Months EndedThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Derivatives designated as hedging instruments:
Fair value hedges:
Interest rate contracts 3, 4
$— $— $— $— $(7)$7 $26 $(16)
Excluded components 3, 5
7 51 6 9 — — — — 
Cash flow hedges:
Interest rate contracts 3
2 — 2 1 (1)(2)(2)(11)
Foreign currency contracts 6
(22)16 8 (5)(5)1 — 6 
Foreign currency contracts 7
17 — 2 — — — — — 
Commodity contracts 6
(4)— (15)22 (12)(2)(13)(3)
Excluded components 5, 6
— (2)— (8)(2)(1)(5)(5)
Excluded components 5, 7
— — 7 — 3 — 6 — 
Net foreign investment hedges:
Foreign currency contracts— (45)(82)(37)— — — — 
Excluded components 5, 7
10 6 41 16 11 5 30 12 
Total derivatives designated as hedging instruments$10 $26 $(31)$(2)$(13)$8 $42 $(17)
Derivatives not designated as hedging instruments:
Interest rate contracts 3
$— $— $— $— $2 $— $4 $1 
Foreign currency contracts 7
— — — — 4 (95)(208)(35)
Commodity contracts 6
— — — — (1)(2)(18)— 
Commodity contracts 7
— — — — (1)— (1)— 
Total return swap 6
— — — — 26 23 50 49 
Total derivatives not designated as hedging instruments$— $— $— $— $30 $(74)$(173)$15 
Total derivatives$10 $26 $(31)$(2)$17 $(66)$(131)$(2)
1.OCI is defined as other comprehensive income (loss).
2.Pretax amounts.
3.Included in "Interest expense and amortization of debt discount" in the consolidated statements of income.
4.Gain (loss) recognized in income of derivatives is offset by gain (loss) recognized in income of the hedged item.
5.The excluded components are related to the time value of the derivatives designated as hedges.
6.Included in "Cost of sales" in the consolidated statements of income.
7.Included in "Sundry income (expense) - net" in the consolidated statements of income.

The following table provides the net after-tax gain (loss) expected to be reclassified from AOCL to income within the next 12 months:

Expected Reclassifications from AOCL within the next 12 monthsSep 30, 2025
In millions
Cash flow hedges:
Interest rate contracts$(3)
Commodity contracts$6 
Foreign currency contracts$(14)
Net foreign investment hedges:
Excluded components$15 
v3.25.3
FAIR VALUE MEASUREMENTS (Notes)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block] FAIR VALUE MEASUREMENTS
A summary of the Company's recurring and nonrecurring fair value measurements can be found in Note 22 to the Consolidated Financial Statements included in the 2024 10-K.

Fair Value Measurements on a Recurring Basis
The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis:

Fair Value Measurements on a Recurring BasisSep 30, 2025Dec 31, 2024
In millionsFair Value LevelCostGainLossFair ValueCostGainLossFair Value
Assets at fair value:
Cash equivalents:
Held-to-maturity securities 1
Level 2$854 $— $— $854 $96 $— $— $96 
Money market fundsLevel 2960 — — 960 1,164 — — 1,164 
Marketable securities 2
Level 2558 — (61)497 453 — (70)383 
Other investments:
Debt securities: 3
Government debt 4
Level 21,120 8 (82)1,046 1,103 13 (123)993 
Corporate bondsLevel 115 — — 15 18 — (1)17 
Corporate bondsLevel 2886 14 (59)841 954 6 (88)872 
Corporate bondsLevel 3200 — (39)161 200 — (49)151 
Equity securities 3, 5
Level 14 6 — 10 4 10 — 14 
Derivatives relating to: 6
Interest ratesLevel 2— 19 — 19 — 20 — 20 
Foreign currencyLevel 2— 157 — 157 — 107 — 107 
CommoditiesLevel 1— 5 — 5 — 4 — 4 
CommoditiesLevel 2— 216 — 216 — 87 — 87 
Total assets at fair value$4,781 $3,908 
Liabilities at fair value:
Long-term debt including debt due within one year 7
Level 2$(18,122)$1,544 $(409)$(16,987)$(16,208)$1,487 $(484)$(15,205)
Guarantee liability 8
Level 3(138)(155)
Derivatives relating to: 6
Interest ratesLevel 2— — (13)(13)— — (47)(47)
Foreign currencyLevel 2— — (230)(230)— — (142)(142)
CommoditiesLevel 1— — (3)(3)— — (1)(1)
CommoditiesLevel 2— — (202)(202)— — (64)(64)
Total liabilities at fair value$(17,573)$(15,614)
1.The Company's held-to-maturity securities primarily relate to treasury bills and time deposits. At September 30, 2025, $813 million is included in "Cash and cash equivalents" ($96 million at December 31, 2024) and $41 million is included in "Other current assets" (zero at December 31, 2024) in the consolidated balance sheets.
2.The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets.
3.The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities are included in “Other investments” in the consolidated balance sheets.
4.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
5.Equity securities with a readily determinable fair value.
6.See Note 20 for classification of derivatives in the consolidated balance sheets.
7.Cost includes fair value hedge adjustment gains of $35 million at September 30, 2025 and $9 million at December 31, 2024 on $5,538 million of debt at September 30, 2025 and $5,129 million at December 31, 2024.
8.Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets.

Cost approximates fair value for all other financial instruments.
For equity securities calculated at net asset value per share (or its equivalent), the Company had $109 million in private market securities and $13 million in real estate at September 30, 2025 ($90 million in private market securities and $15 million in real estate at December 31, 2024). There are no redemption restrictions and the unfunded commitments on these investments were $72 million at September 30, 2025 and $81 million at December 31, 2024.

For assets classified as Level 3 measurements, fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The level 3 asset values represent the fair value of an investment in a corporate bond, accounted for as a debt security.

For liabilities classified as Level 3 measurements, fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The fair value of the Company’s accrued liability related to the guarantee of Sadara’s debt is in proportion to the Company’s 35 percent ownership interest in Sadara. The estimated fair value of the guarantee was calculated using a "with" and "without" method. The fair value of the debt was calculated "with" the guarantee less the fair value of the debt "without" the guarantee. The "with" and "without" values were calculated using a discounted cash flow method based on contractual cash flows as well as projected prepayments made on the debt by Sadara.

Fair Value Measurements on a Nonrecurring Basis
2025 Restructuring Program
In the second quarter of 2025, the Company recorded a charge for asset write-downs and write-offs, including the write-down of certain manufacturing facilities, corporate assets, leased, non-manufacturing facilities and other miscellaneous assets. The manufacturing facilities, corporate assets and certain leased, non-manufacturing facilities and other miscellaneous assets associated with this plan were written down to zero. In addition, impairments of certain leased, non-manufacturing facilities and other miscellaneous assets, which were classified as Level 3 measurements, resulted in a write-down of right-of-use assets to a fair value of $110 million using unobservable inputs. The Company recorded impairment charges of $334 million for asset write-downs and write-offs, included in "Restructuring and asset related charges - net" in the consolidated statements of income and related to Packaging & Specialty Plastics ($81 million), Industrial Intermediates & Infrastructure ($63 million), Performance Materials & Coatings ($147 million) and Corporate ($43 million). In the third quarter of 2025, the Company recorded additional impairment charges of $8 million for asset write-downs and write-offs, included in "Restructuring and asset related charges - net" in the consolidated statements of income and related to Packaging & Specialty Plastics ($3 million), Industrial Intermediates & Infrastructure ($1 million), Performance Materials & Coatings ($3 million) and Corporate ($1 million).

2023 Restructuring Program
In the first quarter of 2025, the Company recorded impairment charges of $5 million for asset write-downs and write-offs, included in "Restructuring and asset related charges - net" in the consolidated statements of income and related to Industrial Intermediates & Infrastructure.
v3.25.3
VARIABLE INTEREST ENTITIES (Notes)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
VARIABLE INTEREST ENTITIES VARIABLE INTEREST ENTITIES
A summary of the Company's variable interest entities ("VIEs") not discussed below can be found in Note 23 to the Consolidated Financial Statements included in the 2024 10-K.

Assets and Liabilities of Consolidated VIEs
The Company's consolidated financial statements include the assets, liabilities and results of operations of VIEs for which the Company is the primary beneficiary. The other equity holders’ interests are included in “Net income attributable to noncontrolling interests” in the consolidated statements of income and "Noncontrolling interests" in the consolidated balance sheets.

Infrastructure Entity
The Company has variable interests in Diamond Infrastructure Solutions, an entity that owns and operates infrastructure assets at certain Dow locations on the U.S Gulf Coast as discussed in Note 17. The Company's variable interests relate to its membership interest and the service contracts between Diamond Infrastructure Solutions and Dow, under which a majority of the infrastructure services are provided to Dow using pass-through and cost-plus pricing. Diamond Infrastructure Solutions became a variable interest entity effective with the noncontrolling interest transaction on May 1, 2025. Dow is deemed the primary beneficiary as a result of decision rights held as the majority member.
The following table summarizes the carrying amounts of Diamond Infrastructure Solutions' assets and liabilities included in the Company’s consolidated balance sheets at September 30, 2025. Amounts presented are adjusted for intercompany eliminations.

Assets and Liabilities of Diamond Infrastructure SolutionsSep 30, 2025
In millions
Other current assets$161 
Net property2,244 
Other noncurrent assets216 
Total assets 1
$2,621 
Current liabilities$397 
Long-term debt172 
Other noncurrent obligations340 
Total liabilities 2
$909 
1.All assets were restricted at September 30, 2025.
2.All liabilities were nonrecourse at September 30, 2025.

Other Consolidated VIEs
In addition, the Company holds a variable interest and is the primary beneficiary of other joint ventures and entities. The following table summarizes the carrying amounts of other entities' assets and liabilities included in the Company’s consolidated balance sheets at September 30, 2025 and December 31, 2024:

Assets and Liabilities of Other Consolidated VIEsSep 30, 2025Dec 31, 2024
In millions
Cash and cash equivalents$23 $22 
Other current assets210 250 
Net property113 122 
Other noncurrent assets16 15 
Total assets 1
$362 $409 
Current liabilities$16 $24 
Other noncurrent obligations13 13 
Total liabilities 2
$29 $37 
1.Restricted assets totaled $187 million and $192 million at September 30, 2025 and December 31, 2024, respectively.
2.All liabilities were nonrecourse at September 30, 2025 and December 31, 2024.

Amounts presented in the consolidated balance sheets and the table above as restricted assets or nonrecourse obligations relating to consolidated VIEs at September 30, 2025 and December 31, 2024 are adjusted for intercompany eliminations.
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS (Notes)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segments and Geographic Regions [Text Block] SEGMENTS AND GEOGRAPHIC REGIONS
Sales to external customers, which are attributed to geographic regions based on customer location, were as follows:

Sales to External Customers by Geographic RegionThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
United States$3,651 $3,883 $11,322 $11,621 
EMEAI3,090 3,568 9,636 10,624 
Rest of World3,232 3,428 9,550 10,314 
Total$9,973 $10,879 $30,508 $32,559 
Long-lived assets, which are attributed to geographic regions based on asset location, were as follows:

Long-Lived Assets by Geographic RegionSep 30, 2025Dec 31, 2024
In millions
United States$14,914 $15,216 
EMEAI2,776 2,726 
Rest of World4,849 4,062 
Total$22,539 $22,004 

Dow’s measure of profit/loss for segment reporting purposes is Operating EBIT as this is the manner in which the chief executive officer, chief operating officer, chief financial officer, general counsel and corporate secretary, and senior vice president of corporate development, together the "executive committee" and CODM, assesses performance and allocates resources. The CODM compares quarterly results to both the year-ago and sequential periods to assess performance and allocate resources to each segment. The Company defines Operating EBIT as earnings (i.e., "Income (loss) before income taxes") before interest, excluding the impact of significant items. Operating EBIT by segment includes all operating items relating to the businesses; items that principally apply to Dow as a whole are assigned to Corporate.

Segment Operating EBIT 1
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment Total
In millions
Three months ended Sep 30, 2025
Net sales$4,891 $2,834 $2,082 $9,807 
Cost of sales4,474 2,714 1,851 9,039 
SARD 2
222 122 158 502 
Equity in earnings (losses) of nonconsolidated affiliates(6)(68)1 (73)
Other segment income (expense) items 3
10 23 6 39 
Segment Operating EBIT 4
$199 $(47)$80 $232 
Three months ended Sep 30, 2024
Net sales$5,516 $2,962 $2,214 $10,692 
Cost of sales4,675 2,893 1,881 9,449 
SARD 2
260 134 169 563 
Equity in earnings (losses) of nonconsolidated affiliates16 (17)1 — 
Other segment income (expense) items 3
21 29 (25)25 
Segment Operating EBIT 4
$618 $(53)$140 $705 
Nine months ended Sep 30, 2025
Net sales$15,226 $8,475 $6,282 $29,983 
Cost of sales13,967 8,368 5,510 27,845 
SARD 2
683 365 456 1,504 
Equity in earnings (losses) of nonconsolidated affiliates40 (165)2 (123)
Other segment income (expense) items 3
(4)63 (37)22 
Segment Operating EBIT 4
$612 $(360)$281 $533 
Nine months ended Sep 30, 2024
Net sales$16,461 $8,921 $6,609 $31,991 
Cost of sales13,888 8,472 5,690 28,050 
SARD 2
768 397 523 1,688 
Equity in earnings (losses) of nonconsolidated affiliates96 (63)9 42 
Other segment income (expense) items 3
25 52 (78)(1)
Segment Operating EBIT 4
$1,926 $41 $327 $2,294 
1.Significant expense categories are presented on an operating basis, net of the impact of significant items.
2.SARD includes selling, general and administrative and research and development expenses.
3.Other segment items includes amortization of intangibles and sundry income (expense) - net.
4.Segment Operating EBIT for TDCC for the three and nine months ended September 30, 2025 and 2024 is substantially the same as that of Dow Inc. and therefore is not disclosed separately in the table above. A reconciliation of "Segment Operating EBIT" to "Income (loss) before income taxes" is provided in the following table.
Reconciliation of "Segment Operating EBIT" to "Income (Loss) Before Income Taxes"
Three Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Segment Operating EBIT$232 $705 $533 $2,294 
+ Corporate Operating EBIT(52)(64)(144)(160)
+ Interest income47 36 114 143 
- Interest expense and amortization of debt discount221 199 646 595 
+ Significant items64 (154)(820)(301)
Income (loss) before income taxes$70 $324 $(963)$1,381 

Other Segment InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment Total
Corp. 1
Total
In millions
Three months ended Sep 30, 2025
Net sales$4,891 $2,834 $2,082 $9,807 $166 $9,973 
Depreciation and amortization$349 $158 $174 $681 $7 $688 
Capital expenditures$433 $72 $59 $564 $— $564 
Operating EBIT$199 $(47)$80 $232 $(52)$180 
Three months ended Sep 30, 2024
Net sales$5,516 $2,962 $2,214 $10,692 $187 $10,879 
Depreciation and amortization$384 $155 $194 $733 $8 $741 
Capital expenditures$490 $165 $81 $736 $— $736 
Operating EBIT$618 $(53)$140 $705 $(64)$641 
Nine months ended Sep 30, 2025
Net sales$15,226 $8,475 $6,282 $29,983 $525 $30,508 
Depreciation and amortization$1,078 $457 $566 $2,101 $25 $2,126 
Capital expenditures$1,458 $303 $150 $1,911 $— $1,911 
Operating EBIT$612 $(360)$281 $533 $(144)$389 
Nine months ended Sep 30, 2024
Net sales$16,461 $8,921 $6,609 $31,991 $568 $32,559 
Depreciation and amortization$1,098 $443 $578 $2,119 $24 $2,143 
Capital expenditures$1,434 $497 $242 $2,173 $— $2,173 
Operating EBIT$1,926 $41 $327 $2,294 $(160)$2,134 
1.Corporate contains the reconciliation between the totals for the operating segments and the Company's totals. Net sales for Corporate are primarily related to insurance operations. Corporate expenses are primarily related to insurance operations, salaries and wages and non-business aligned environmental and legal costs.

Segment Asset InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment TotalCorp.Total
In millions
Sep 30, 2025
Total assets$30,981 $12,739 $11,894 $55,614 $5,376 $60,990 
Investments in nonconsolidated affiliates 1
$675 $401 $143 $1,219 $36 $1,255 
Dec 31, 2024
Total assets$29,034 $11,928 $11,170 $52,132 $5,180 $57,312 
Investments in nonconsolidated affiliates 1
$711 $367 $146 $1,224 $42 $1,266 
1.See Note 10 for additional information regarding the Company's investments in nonconsolidated affiliates.
The following tables summarize the pretax impact of significant items by segment excluded from Operating EBIT:

Significant Items by Segment
In millionsPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsOperating Segment TotalCorp.Total
Three months ended Sep 30, 2025
2025 Restructuring Program severance and related benefit costs and asset related charges 1
$(3)$(6)$(3)$(12)$(11)$(23)
Implementation costs 2
— — — — (5)(5)
Net gain on divestitures and asset sale 3
— — — — 110 110 
Loss on early extinguishment of debt 4
— — — — (18)(18)
Total significant items by segment$(3)$(6)$(3)$(12)$76 $64 
Nine months ended Sep 30, 2025
Restructuring, implementation and efficiency costs, and asset related charges - net 5
$— $(1)$— $(1)$(50)$(51)
2025 Restructuring Program severance and related benefit costs and asset related charges 1
(161)(95)(150)(406)(415)(821)
Implementation costs 2
— — — — (10)(10)
Net gain on divestitures and asset sale 3
— 103 — 103 110 213 
Litigation related charges, awards and adjustments 6
— — — — 42 42 
Loss on early extinguishment of debt 4
— — — — (78)(78)
Indemnification and other transaction related costs 7
— — — — (115)(115)
Total significant items by segment$(161)$7 $(150)$(304)$(516)$(820)
1.Severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring Program. See Note 5 for additional information.
2.Implementation costs associated with the Company's 2025 Restructuring Program and the sale of membership interests of Diamond Infrastructure Solutions.
3.The three and nine months ended September 30, 2025 relate to a gain on the sale of the Company's ownership interest in a nonconsolidated affiliate. The nine months ended September 30, 2025 also includes a gain on the sale of the soil fumigation product line. See Note 4 for additional information.
4.The Company retired outstanding long-term debt resulting in a loss on early extinguishment. See Note 13 for additional information.
5.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. The nine months ended September 30, 2024 also includes impairment charges related to the write-down of certain manufacturing assets, partially offset by an asset related credit adjustment. See Note 5 for additional information.
6.Includes a gain associated with the reassessment of liabilities for certain accrued Groundwater Matters, partially offset by the settlement of a separate claim related to water storage district Groundwater Matters. See Note 14 for additional information.
7.Charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. The nine months ended September 30, 2025 also includes a charge related to an arbitration settlement agreement for historical product claims from a divested business. See Note 14 for additional information.

Significant Items by SegmentPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment TotalCorp.Total
In millions
Three months ended Sep 30, 2024
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$— $— $(7)$(7)$(72)$(79)
Indemnification and other transactions related costs 2
— — — — (75)(75)
Total significant items by segment$— $— $(7)$(7)$(147)$(154)
Nine months ended Sep 30, 2024
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$(37)$(8)$(7)$(52)$(174)$(226)
Indemnification and other transactions related costs 2
— — — — (75)(75)
Total significant items by segment$(37)$(8)$(7)$(52)$(249)$(301)
1.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. The nine months ended September 30, 2024 also includes impairment charges related to the write-down of certain manufacturing assets.
2.Includes a charge related to an arbitration settlement agreement for historical product claims from a divested business. See Note 14 for additional information.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
REVENUE (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
Disaggregation of Revenue
The Company disaggregates its revenue from contracts with customers by operating segment and business, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows. See details in the tables below:

Net Trade Sales by Segment and BusinessThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Hydrocarbons & Energy$1,233 $1,433 $4,161 $4,347 
Packaging and Specialty Plastics3,658 4,083 11,065 12,114 
Packaging & Specialty Plastics$4,891 $5,516 $15,226 $16,461 
Industrial Solutions $1,004 $1,039 $3,043 $3,107 
Polyurethanes & Construction Chemicals1,826 1,919 5,420 5,805 
Other4 4 12 9 
Industrial Intermediates & Infrastructure$2,834 $2,962 $8,475 $8,921 
Coatings & Performance Monomers$809 $891 $2,518 $2,704 
Consumer Solutions1,273 1,323 3,764 3,905 
Performance Materials & Coatings$2,082 $2,214 $6,282 $6,609 
Corporate$166 $187 $525 $568 
Total$9,973 $10,879 $30,508 $32,559 

Net Trade Sales by Geographic RegionThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
U.S. & Canada$3,914 $4,149 $12,129 $12,470 
EMEAI 1
3,090 3,568 9,636 10,624 
Asia Pacific1,838 1,890 5,433 5,712 
Latin America1,131 1,272 3,310 3,753 
Total$9,973 $10,879 $30,508 $32,559 
1.Europe, Middle East, Africa and India.
Contract with Customer, Asset and Liability [Table Text Block]
The following table summarizes contract assets and liabilities at September 30, 2025 and December 31, 2024:

Contract Assets and LiabilitiesBalance Sheet ClassificationSep 30, 2025Dec 31, 2024
In millions
Accounts and notes receivable - tradeAccounts and notes receivable - trade$5,044 $4,756 
Contract assets - noncurrentDeferred charges and other assets$— $2 
Contract liabilities - currentAccrued and other current liabilities$220 $244 
Contract liabilities - noncurrent 1
Other noncurrent obligations$1,791 $1,480 
1.The increase from December 31, 2024 to September 30, 2025 was primarily due to advance payments on long-term supply agreements.
v3.25.3
Restructuring and Related Activities (Tables)
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] The following table summarizes the activities related to the 2025 Restructuring Program, including segment information:
2025 Restructuring ProgramSeverance and Related Benefit CostsAsset Write-downs and Write-offsCosts Associated with Exit and Disposal ActivitiesTotal
In millions
Corporate$207 $— $— $207 
Total restructuring charges$207 $— $— $207 
Reserve balance at Mar 31, 2025$207 $— $— $207 
Packaging & Specialty Plastics$— $81 $77 $158 
Industrial Intermediates & Infrastructure— 63 26 89 
Performance Materials & Coatings— 147 — 147 
Corporate154 43 — 197 
Total restructuring charges$154 $334 $103 $591 
Charges against the reserve 1
— (334)(103)(437)
Cash payments(16)— — (16)
Reserve balance at Jun 30, 2025$345 $— $— $345 
Packaging & Specialty Plastics$— $3 $— $3 
Industrial Intermediates & Infrastructure— 1 5 6 
Performance Materials & Coatings— 3 — 3 
Corporate— 1 10 11 
Total restructuring charges$— $8 $15 $23 
Charges against the reserve 1
— (8)(15)(23)
Cash payments(66)— — (66)
Reserve balance at Sep 30, 2025$279 $— $— $279 
1.Costs associated with exit and disposal activities relate to asset retirement obligations and pension benefit settlement costs.
v3.25.3
SUPPLEMENTARY INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Sundry Income, Net
Dow Inc. Sundry Income (Expense) – NetThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Non-operating pension and other postretirement benefit plan net credits 1
$36 $61 $110 $183 
Foreign exchange gains (losses) 2
12 (14)23 (49)
Gain on sales of other assets and investments 3
5 27 — 46 
Gain on divestiture of ownership interest in DowAksa 4
110 — 110 — 
Gain on divestiture of soil fumigation product line 4
— — 103 — 
Gain (loss) on early extinguishment of debt 5
(18)— (78)5 
Indemnification and other transaction related costs 6
(3)1 (20)2 
Other - net43 44 97 69 
Total sundry income (expense) – net$185 $119 $345 $256 
1.See Note 18 for additional information.
2.Foreign exchange gains for the three and nine months ended September 30, 2025 relate primarily to exposures to the Euro, partially offset by losses in exposures to the Argentine peso. Foreign exchange losses for the three months ended September 30, 2024 relate primarily to exposures in the Argentine peso, while losses in the nine months ended September 30, 2024 relate primarily to exposures in the Egyptian pound and Argentine peso.
3.The three and nine months ended September 30, 2024 include a gain of $25 million associated with a warehouse sale.
4.See Note 4 for additional information.
5.See Note 13 for additional information.
6.Primarily related to charges associated with agreements entered into with DuPont de Nemours, Inc. ("DuPont") and Corteva, Inc. ("Corteva") as part of the separation and distribution.
Schedule of Company-Owned Life Insurance
Other Investments
The Company has investments in company-owned life insurance policies, which are recorded at their cash surrender value as of each balance sheet date, as provided below:

Investments in Company-Owned Life InsuranceSep 30, 2025Dec 31, 2024
In millions
Gross cash value$515 $558 
Less: Existing drawdowns 1
197 — 
Less: Accrued interest on drawdowns 2
5 — 
Investments in company-owned life insurance 3
$313 $558 
1.Classified as "Proceeds from sales and maturities of investments" in the consolidated statements of cash flows.
2.Included in "Sundry income (expense) - net" in the consolidated statements of income.
3.Classified as "Other investments" in the consolidated balance sheets.
v3.25.3
Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Effective Tax Rate Information
The following table provides effective tax rate information for Dow Inc. for the three and nine months ended September 30, 2025 and 2024:

Effective Tax Rate InformationThree Months EndedNine Months Ended
Amounts in millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Income (loss) before income taxes$70 $324 $(963)$1,381 
Provision (credit) for income taxes$(54)$84 $4 $145 
Effective tax rate(77.1)%25.9 %(0.4)%10.5 %
v3.25.3
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following tables provide earnings per share calculations for Dow Inc. for the three and nine months ended September 30, 2025 and 2024. Earnings per share of TDCC is not presented as this information is not required in financial statements of wholly owned subsidiaries.

Net Income (Loss) for Earnings Per Share CalculationsThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Net income (loss)$124 $240 $(967)$1,236 
Net income attributable to noncontrolling interests62 26 113 67 
Net income attributable to participating securities 1
2 3 9 9 
Net income (loss) attributable to common stockholders$60 $211 $(1,089)$1,160 
1.Restricted stock units are considered participating securities due to the Company's practice of paying dividend equivalents on unvested shares.
Earnings (Loss) Per Share - Basic and DilutedThree Months EndedNine Months Ended
Dollars per shareSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Earnings (loss) per common share - basic$0.08 $0.30 $(1.53)$1.65 
Earnings (loss) per common share - diluted$0.08 $0.30 $(1.53)$1.65 

Share Count InformationThree Months EndedNine Months Ended
Shares in millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Weighted-average common shares outstanding - basic711.8 702.3 709.4 703.5 
Plus dilutive effect of equity compensation plans 1
1.4 1.3 — 1.4 
Weighted-average common shares outstanding - diluted713.2 703.6 709.4 704.9 
Stock units excluded from EPS calculations 2
19.3 10.5 23.6 9.6 
1.The nine months ended September 30, 2025 reflect a net loss and, as such, the basic share count was used for purposes of calculating earnings per share on a diluted basis.
2.These outstanding stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.
v3.25.3
INVENTORIES (Tables)
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block]
The following table provides a breakdown of inventories:

InventoriesSep 30, 2025Dec 31, 2024
In millions
Finished goods$3,709 $3,773 
Work in process1,300 1,323 
Raw materials839 822 
Supplies1,176 1,039 
Total$7,024 $6,957 
Adjustment of inventories to the LIFO basis(349)(413)
Total inventories$6,675 $6,544 
v3.25.3
NONCONSOLIDATED AFFILIATES (Tables)
 9 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Nonconsolidated Affiliates - Investments and Dividends
The Company's investments in companies accounted for using the equity method ("nonconsolidated affiliates"), by classification in the consolidated balance sheets are shown in the following table:

Investments in Nonconsolidated AffiliatesSep 30, 2025Dec 31, 2024
In millions
Investment in nonconsolidated affiliates$1,255 $1,266 
Other noncurrent obligations(892)(568)
Net investment in nonconsolidated affiliates$363 $698 
v3.25.3
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
The following table shows changes in the carrying amount of goodwill by reportable segment:

GoodwillPackaging & Specialty PlasticsIndustrial Intermediates & InfrastructurePerformance Materials & CoatingsTotal
In millions
Net goodwill at Dec 31, 2024
$5,118 $1,092 $2,355 $8,565 
Divestiture— (10)— (10)
Foreign currency impact13 5 117 135 
Net goodwill at Sep 30, 2025
$5,131 $1,087 $2,472 $8,690 
v3.25.3
Transfers and Servicing (Tables)
 9 Months Ended
Sep. 30, 2025
Transfers and Servicing [Abstract]  
Cash Flows related to Transfers of AR [Table Text Block]
The following table provides a summary of cash flows related to the Programs and the Facilities for the three and nine months ended September 30, 2025 and 2024:

Cash Flows Related to Transfers of Accounts ReceivableThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Proceeds received from new transfers$— $198 $538 $1,248 
Balances related to Transfers of AR
The following table provides the balances related to the Programs and the Facilities at September 30, 2025 and December 31, 2024:

Balances Related to Transfers of Accounts ReceivableSep 30, 2025Dec 31, 2024
In millions
Balance outstanding$6$287
Accounts receivable derecognized $—$278
Amounts recognized in the consolidated balance sheets:
    Accrued and other current liabilities 1
$6$9
1. Represents amounts collected from customers and not yet remitted by the Company.
v3.25.3
NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
Notes PayableSep 30, 2025Dec 31, 2024
In millions
Notes payable to banks and other lenders$133$135
Period-end average interest rates40.08 %36.03 %
Schedule of Long-term Debt Instruments
Long-Term Debt
2025 Average Rate
Sep 30, 2025
2024 Average Rate
Dec 31, 2024
In millions
Promissory notes and debentures:
Final maturity 20254.55 %$208 5.63 %$333 
Final maturity 20284.80 %600 4.80 %600 
Final maturity 2029 1
7.53 %951 7.58 %1,368 
Final maturity 20302.10 %818 2.10 %818 
Final maturity 2031 and thereafter 1
5.41 %11,561 5.37 %9,192 
Other facilities:
Foreign currency notes and loans, various rates and maturities 1
2.56 %2,244 2.01 %2,540 
InterNotes®, varying maturities through 2053
4.71 %891 4.31 %661 
Medium-term notes, maturity 20254.75 %1 4.75 %1 
Finance lease obligations 2
1,079 939 
Unamortized debt discount and issuance costs(231)(244)
Long-term debt due within one year 3
(413)(497)
Long-term debt$17,709 $15,711 
1.Cost includes net fair value hedge adjustment gains of $35 million at September 30, 2025 ($9 million at December 31, 2024). See Note 20 for additional information.
2.See Note 15 for additional information.
3.Presented net of current portion of unamortized debt issuance costs.
Schedule of Maturities of Long-term Debt
Maturities of Long-Term Debt for Next Five Years at Sep 30, 2025
In millions
2025$245 
2026$207 
2027$782 
2028$750 
2029$1,061 
2030$996 
Schedule of Line of Credit Facilities
The following table summarizes the Company's credit facilities:

Committed and Available Credit Facilities at Sep 30, 2025
In millionsCommitted CreditAvailable CreditMaturity DateInterest
Five Year Competitive Advance and Revolving Credit Facility$5,000 $5,000 June 2030Floating rate
Bilateral Revolving Credit Facility300 300 November 2025Floating rate
Bilateral Revolving Credit Facility300 300 February 2026Floating rate
Bilateral Revolving Credit Facility100 100 March 2026Floating rate
Bilateral Revolving Credit Facility375 375 October 2026Floating rate
Bilateral Revolving Credit Facility150 150 November 2026Floating rate
Bilateral Revolving Credit Facility200 200 November 2026Floating rate
Bilateral Revolving Credit Facility250 250 March 2027Floating rate
Bilateral Revolving Credit Facility100 100 May 2027Floating rate
Bilateral Revolving Credit Facility350 350 June 2027Floating rate
Bilateral Revolving Credit Facility200 200 September 2027Floating rate
Bilateral Revolving Credit Facility100 100 October 2027Floating rate
Bilateral Revolving Credit Facility100 100 March 2028Floating rate
Bilateral Revolving Credit Facility100 100 March 2028Floating rate
Bilateral Revolving Credit Facility300 300 May 2028Floating rate
Bilateral Revolving Credit Facility200 200 September 2028Floating rate
Bilateral Revolving Credit Facility175 175 September 2028Floating rate
Bilateral Revolving Credit Facility100 100 June 2030Floating rate
Total committed and available credit facilities$8,400 $8,400 
v3.25.3
COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Guarantor Obligations
The following table provides a summary of the final expiration, maximum future payments and recorded liability included in the consolidated balance sheets for guarantees:

GuaranteesSep 30, 2025Dec 31, 2024
In millionsFinal
Expiration		Maximum
Future Payments 		Recorded Liability Final
Expiration		Maximum
Future Payments 		Recorded Liability
Guarantees2038$1,223 $138 2038$1,456 $155 
v3.25.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2025
Guarantor Obligations [Line Items]  
Lease, Cost
The components of lease cost for operating and finance leases for the three and nine months ended September 30, 2025 and 2024 were as follows:

Lease CostThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Operating lease cost$104 $112 $319 $329 
Finance lease cost
Amortization of right-of-use assets - finance33 31 97 86 
Interest on lease liabilities - finance13 11 37 33 
Total finance lease cost46 42 134 119 
Short-term lease cost77 80 244 242 
Variable lease cost304 280 842 803 
Sublease income(3)(2)(6)(7)
Total lease cost$528 $512 $1,533 $1,486 
Schedule of Supplemental Cash Flow Information Related to Leases
The following table provides supplemental cash flow and other information related to leases:

Other Lease InformationNine Months Ended
In millionsSep 30, 2025Sep 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$329 $334 
Operating cash flows for finance leases$37 $33 
Financing cash flows for finance leases$83 $95 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$262 $186 
Finance leases$202 $183 
v3.25.3
Accumulated Other Comprehensive Loss (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and nine months ended September 30, 2025 and 2024 were as follows:

Accumulated Other Comprehensive LossThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Unrealized Gains (Losses) on Investments
Beginning balance$(233)$(198)$(243)$(253)
Unrealized gains (losses) on investments63 59 78 139 
Tax (expense) benefit(8)(15)(13)(35)
Net unrealized gains (losses) on investments55 44 65 104 
(Gains) losses reclassified from AOCL to net income (loss) 1
3 (12)3 (19)
Tax expense (benefit) 2
(1)2 (1)4 
Net (gains) losses reclassified from AOCL to net income (loss)2 (10)2 (15)
Other comprehensive income (loss), net of tax57 34 67 89 
Ending balance$(176)$(164)$(176)$(164)
Cumulative Translation Adjustments
Beginning balance$(1,812)$(2,056)$(2,063)$(1,891)
Gains (losses) on foreign currency translation(69)197 186 42 
Tax (expense) benefit47 8 62 5 
Net gains (losses) on foreign currency translation(22)205 248 47 
(Gains) losses reclassified from AOCL to net income (loss) 3
(11)(6)(30)(13)
Other comprehensive income (loss), net of tax(33)199 218 34 
Ending balance$(1,845)$(1,857)$(1,845)$(1,857)
Pension and Other Postretirement Benefit Plans
Beginning balance$(5,679)$(5,452)$(5,720)$(5,486)
Gains (losses) arising during the period(1)2 — 2 
Amortization of net loss and prior service credits reclassified from AOCL to net income (loss) 4
36 21 88 64 
Tax expense (benefit) 2
(7)(5)(19)(14)
Net loss and prior service credits reclassified from AOCL to net income (loss)29 16 69 50 
Other comprehensive income (loss), net of tax28 18 69 52 
Ending balance$(5,651)$(5,434)$(5,651)$(5,434)
Derivative Instruments
Beginning balance$(102)$(79)$(84)$(51)
Gains (losses) on derivative instruments(4)37 (13)(9)
Tax (expense) benefit2 (9)(4)2 
Net gains (losses) on derivative instruments(2)28 (17)(7)
(Gains) losses reclassified from AOCL to net income (loss) 5
17 4 14 13 
Tax expense (benefit) 2
(4)(1)(4)(3)
Net (gains) losses reclassified from AOCL to net income (loss)13 3 10 10 
Other comprehensive income (loss), net of tax11 31 (7)3 
Ending balance$(91)$(48)$(91)$(48)
Total AOCL ending balance$(7,763)$(7,503)$(7,763)$(7,503)
1.Reclassified to "Net sales" and "Sundry income (expense) - net."
2.Reclassified to "Provision (credit) for income taxes."
3.Reclassified to "Sundry income (expense) - net."
4.These AOCL components are included in the computation of net periodic benefit cost (credit) of the Company's defined benefit pension and other postretirement benefit plans. See Note 18 for additional information.
5.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."
v3.25.3
NONCONTROLLING INTERESTS Noncontrolling Interests (Tables)
 9 Months Ended
Sep. 30, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interests [Table Text Block]
The following table summarizes the activity for equity attributable to noncontrolling interests for the three and nine months ended September 30, 2025 and 2024:

Noncontrolling InterestsThree Months EndedNine Months Ended

In millions
Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Balance at beginning of period$1,361 $482 $496 $501 
Net income attributable to noncontrolling interests62 26 113 67 
Distributions to noncontrolling interests 1
(89)(2)(137)(41)
Cumulative translation adjustments(5)24 23 4 
Sale of noncontrolling interests194 — 1,028 — 
Other— — — (1)
Balance at end of period$1,523 $530 $1,523 $530 
1. Includes dividends paid to a joint venture of zero and $8 million for the three and nine months ended September 30, 2025 ($8 million for the three and nine months ended September 30, 2024) which were reclassified to "Equity in earnings (losses) of nonconsolidated affiliates" in the consolidated statements of income. The three and nine months ended September 30, 2025 also include $51 million of dividends declared but not paid, included in "Accrued and other current liabilities" in the consolidated balance sheets.
v3.25.3
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs [Table Text Block] The following table provides the components of the Company's net periodic benefit cost (credit) for all significant plans:
Net Periodic Benefit Cost (Credit) for All Significant Plans Three Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Defined Benefit Pension Plans
Service cost$12 $14 $33 $42 
Interest cost 251 252 746 754 
Expected return on plan assets (324)(345)(965)(1,034)
Amortization of prior service credit(4)(3)(10)(10)
Amortization of net loss42 34 123 105 
Settlement cost 1
10 — 10 — 
Net periodic benefit credit$(13)$(48)$(63)$(143)
Other Postretirement Benefit Plans
Service cost $— $1 $2 $3 
Interest cost 11 11 31 33 
Amortization of net gain(12)(10)(35)(31)
Net periodic benefit cost (credit)$(1)$2 $(2)$5 
1.Related to the settlement of certain plan obligations of a European plan resulting from the 2025 Restructuring Program. See Note 5 for additional information.
v3.25.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Investing Results The following table provides investing results from available-for-sale securities for the nine months ended September 30, 2025 and 2024:
Investing ResultsNine Months Ended
In millionsSep 30, 2025Sep 30, 2024
Proceeds from sales of available-for-sale securities$320 $1,730 
Gross realized gains$6 $34 
Gross realized losses $(9)$(15)
Contractual Maturities of Debt Securities
The following table summarizes contractual maturities of the Company's investments in debt securities:

Contractual Maturities of Debt Securities at Sep 30, 2025
 CostFair Value
In millions
Within one year$113 $108 
One to five years1,113 1,039 
Six to ten years446 448 
After ten years549 468 
Total$2,221 $2,063 
Equity Securities with and without Readily Determinable Fair Value
Investments in Equity SecuritiesSep 30, 2025Dec 31, 2024
In millions
Readily determinable fair value$10 $14 
Not readily determinable fair value$170 $153 
Schedule of Notional Amounts of Outstanding Derivative Positions
The notional amounts of the Company's derivative instruments at September 30, 2025 and December 31, 2024 were as follows:

Notional Amounts 1
Sep 30, 2025Dec 31, 2024
In millions
Derivatives designated as hedging instruments:
Interest rate contracts$500 $1,870 
Foreign currency contracts$6,910 $3,144 
Derivatives not designated as hedging instruments:
Interest rate contracts$353 $14 
Foreign currency contracts$22,776 $9,244 
1.Notional amounts represent the absolute value of open derivative positions at the end of the period. Multi-leg option positions are reflected at the maximum notional position at expiration.

The notional amounts of the Company's commodity derivatives at September 30, 2025 and December 31, 2024 were as follows:

Commodity Notionals 1
Sep 30, 2025Dec 31, 2024Notional Volume Unit
Derivatives designated as hedging instruments:
Hydrocarbon derivatives2.6 3.2 million barrels of oil equivalent
Derivatives not designated as hedging instruments:
Hydrocarbon derivatives1.0 1.1 million barrels of oil equivalent
1.Notional amounts represent the net volume of open derivative positions outstanding at the end of the period.
Schedule of Derivative Instruments
Maximum Maturity Dates of Derivatives Designated as Hedging InstrumentsYear
Interest rate contracts2027
Foreign currency contracts2026
Commodity contracts2028
Schedule of Fair Values of Derivative Instruments
The following table provides the fair value and balance sheet classification of derivative instruments at September 30, 2025 and December 31, 2024:

Fair Value of Derivative InstrumentsSep 30, 2025Dec 31, 2024
In millionsGross
Counterparty and Cash Collateral Netting 1
Net 2
Gross
Counterparty and Cash Collateral Netting 1
Net 2
Asset derivatives
Derivatives designated as hedging instruments:
Interest rate contracts 3
$1 $— $1 $20 $(20)$— 
Interest rate contracts 4
16 (11)5 — — — 
Foreign currency contracts 3
82 (58)24 33 (15)18 
Foreign currency contracts 4
7 (6)1 — — — 
Commodity contracts 3
124 (105)19 25 (14)11 
Commodity contracts 4
74 (65)9 46 (36)10 
Total$304 $(245)$59 $124 $(85)$39 
Derivatives not designated as hedging instruments:
Interest rate contracts 3
$2 $(2)$— $— $— $— 
Foreign currency contracts 3
68 (38)30 74 (16)58 
Commodity contracts 3
20 (9)11 16 (1)15 
Commodity contracts 4
3 (2)1 4 (3)1 
Total$93 $(51)$42 $94 $(20)$74 
Total asset derivatives $397 $(296)$101 $218 $(105)$113 
Liability derivatives
Derivatives designated as hedging instruments:
Interest rate contracts 5
$— $— $— $46 $(20)$26 
Interest rate contracts 6
11 (11)— — — — 
Foreign currency contracts 5
131 (58)73 75 (15)60 
Foreign currency contracts 6
13 (6)7 40 — 40 
Commodity contracts 5
116 (106)10 16 (14)2 
Commodity contracts 6
72 (65)7 37 (36)1 
Total$343 $(246)$97 $214 $(85)$129 
Derivatives not designated as hedging instruments:
Interest rate contracts 5
$2 $(2)$— $1 $— $1 
Foreign currency contracts 5
86 (38)48 27 (16)11 
Commodity contracts 5
14 (10)4 8 (1)7 
Commodity contracts 6
3 (2)1 4 (3)1 
Total$105 $(52)$53 $40 $(20)$20 
Total liability derivatives $448 $(298)$150 $254 $(105)$149 
1.Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the Company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.
2.Represents the net amounts included in the consolidated balance sheets.
3.Included in "Other current assets" in the consolidated balance sheets.
4.Included in "Deferred charges and other assets" in the consolidated balance sheets.
5.Included in "Accrued and other current liabilities" in the consolidated balance sheets.
6.Included in "Other noncurrent obligations" in the consolidated balance sheets.
Derivative Instruments, Gain (Loss)
The following table summarizes the gain (loss) of derivative instruments in the consolidated statements of income and comprehensive income for the three and nine months ended September 30, 2025 and 2024:

Effect of Derivative Instruments
Gain (loss) recognized in OCI 1
Gain (loss) recognized in income 2
Three Months EndedNine Months EndedThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Derivatives designated as hedging instruments:
Fair value hedges:
Interest rate contracts 3, 4
$— $— $— $— $(7)$7 $26 $(16)
Excluded components 3, 5
7 51 6 9 — — — — 
Cash flow hedges:
Interest rate contracts 3
2 — 2 1 (1)(2)(2)(11)
Foreign currency contracts 6
(22)16 8 (5)(5)1 — 6 
Foreign currency contracts 7
17 — 2 — — — — — 
Commodity contracts 6
(4)— (15)22 (12)(2)(13)(3)
Excluded components 5, 6
— (2)— (8)(2)(1)(5)(5)
Excluded components 5, 7
— — 7 — 3 — 6 — 
Net foreign investment hedges:
Foreign currency contracts— (45)(82)(37)— — — — 
Excluded components 5, 7
10 6 41 16 11 5 30 12 
Total derivatives designated as hedging instruments$10 $26 $(31)$(2)$(13)$8 $42 $(17)
Derivatives not designated as hedging instruments:
Interest rate contracts 3
$— $— $— $— $2 $— $4 $1 
Foreign currency contracts 7
— — — — 4 (95)(208)(35)
Commodity contracts 6
— — — — (1)(2)(18)— 
Commodity contracts 7
— — — — (1)— (1)— 
Total return swap 6
— — — — 26 23 50 49 
Total derivatives not designated as hedging instruments$— $— $— $— $30 $(74)$(173)$15 
Total derivatives$10 $26 $(31)$(2)$17 $(66)$(131)$(2)
1.OCI is defined as other comprehensive income (loss).
2.Pretax amounts.
3.Included in "Interest expense and amortization of debt discount" in the consolidated statements of income.
4.Gain (loss) recognized in income of derivatives is offset by gain (loss) recognized in income of the hedged item.
5.The excluded components are related to the time value of the derivatives designated as hedges.
6.Included in "Cost of sales" in the consolidated statements of income.
7.Included in "Sundry income (expense) - net" in the consolidated statements of income.
Schedule of Hedging Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized Over Next Fiscal Year
The following table provides the net after-tax gain (loss) expected to be reclassified from AOCL to income within the next 12 months:

Expected Reclassifications from AOCL within the next 12 monthsSep 30, 2025
In millions
Cash flow hedges:
Interest rate contracts$(3)
Commodity contracts$6 
Foreign currency contracts$(14)
Net foreign investment hedges:
Excluded components$15 
v3.25.3
FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis:

Fair Value Measurements on a Recurring BasisSep 30, 2025Dec 31, 2024
In millionsFair Value LevelCostGainLossFair ValueCostGainLossFair Value
Assets at fair value:
Cash equivalents:
Held-to-maturity securities 1
Level 2$854 $— $— $854 $96 $— $— $96 
Money market fundsLevel 2960 — — 960 1,164 — — 1,164 
Marketable securities 2
Level 2558 — (61)497 453 — (70)383 
Other investments:
Debt securities: 3
Government debt 4
Level 21,120 8 (82)1,046 1,103 13 (123)993 
Corporate bondsLevel 115 — — 15 18 — (1)17 
Corporate bondsLevel 2886 14 (59)841 954 6 (88)872 
Corporate bondsLevel 3200 — (39)161 200 — (49)151 
Equity securities 3, 5
Level 14 6 — 10 4 10 — 14 
Derivatives relating to: 6
Interest ratesLevel 2— 19 — 19 — 20 — 20 
Foreign currencyLevel 2— 157 — 157 — 107 — 107 
CommoditiesLevel 1— 5 — 5 — 4 — 4 
CommoditiesLevel 2— 216 — 216 — 87 — 87 
Total assets at fair value$4,781 $3,908 
Liabilities at fair value:
Long-term debt including debt due within one year 7
Level 2$(18,122)$1,544 $(409)$(16,987)$(16,208)$1,487 $(484)$(15,205)
Guarantee liability 8
Level 3(138)(155)
Derivatives relating to: 6
Interest ratesLevel 2— — (13)(13)— — (47)(47)
Foreign currencyLevel 2— — (230)(230)— — (142)(142)
CommoditiesLevel 1— — (3)(3)— — (1)(1)
CommoditiesLevel 2— — (202)(202)— — (64)(64)
Total liabilities at fair value$(17,573)$(15,614)
1.The Company's held-to-maturity securities primarily relate to treasury bills and time deposits. At September 30, 2025, $813 million is included in "Cash and cash equivalents" ($96 million at December 31, 2024) and $41 million is included in "Other current assets" (zero at December 31, 2024) in the consolidated balance sheets.
2.The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets.
3.The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities are included in “Other investments” in the consolidated balance sheets.
4.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
5.Equity securities with a readily determinable fair value.
6.See Note 20 for classification of derivatives in the consolidated balance sheets.
7.Cost includes fair value hedge adjustment gains of $35 million at September 30, 2025 and $9 million at December 31, 2024 on $5,538 million of debt at September 30, 2025 and $5,129 million at December 31, 2024.
8.Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets.
v3.25.3
Variable Interest Entities (Tables) - Variable Interest Entity, Primary Beneficiary [Member]
 9 Months Ended
Sep. 30, 2025
Assets and Liabilities of Diamond Solutions
The following table summarizes the carrying amounts of Diamond Infrastructure Solutions' assets and liabilities included in the Company’s consolidated balance sheets at September 30, 2025. Amounts presented are adjusted for intercompany eliminations.

Assets and Liabilities of Diamond Infrastructure SolutionsSep 30, 2025
In millions
Other current assets$161 
Net property2,244 
Other noncurrent assets216 
Total assets 1
$2,621 
Current liabilities$397 
Long-term debt172 
Other noncurrent obligations340 
Total liabilities 2
$909 
1.All assets were restricted at September 30, 2025.
2.All liabilities were nonrecourse at September 30, 2025.
Schedule of Variable Interest Entities [Table Text Block] The following table summarizes the carrying amounts of other entities' assets and liabilities included in the Company’s consolidated balance sheets at September 30, 2025 and December 31, 2024:
Assets and Liabilities of Other Consolidated VIEsSep 30, 2025Dec 31, 2024
In millions
Cash and cash equivalents$23 $22 
Other current assets210 250 
Net property113 122 
Other noncurrent assets16 15 
Total assets 1
$362 $409 
Current liabilities$16 $24 
Other noncurrent obligations13 13 
Total liabilities 2
$29 $37 
1.Restricted assets totaled $187 million and $192 million at September 30, 2025 and December 31, 2024, respectively.
2.All liabilities were nonrecourse at September 30, 2025 and December 31, 2024.
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Revenue from External Customers by Geographic Areas
Sales to external customers, which are attributed to geographic regions based on customer location, were as follows:

Sales to External Customers by Geographic RegionThree Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
United States$3,651 $3,883 $11,322 $11,621 
EMEAI3,090 3,568 9,636 10,624 
Rest of World3,232 3,428 9,550 10,314 
Total$9,973 $10,879 $30,508 $32,559 
Long-Lived Assets by Geographic Areas
Long-lived assets, which are attributed to geographic regions based on asset location, were as follows:

Long-Lived Assets by Geographic RegionSep 30, 2025Dec 31, 2024
In millions
United States$14,914 $15,216 
EMEAI2,776 2,726 
Rest of World4,849 4,062 
Total$22,539 $22,004 
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Segment Operating EBIT 1
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment Total
In millions
Three months ended Sep 30, 2025
Net sales$4,891 $2,834 $2,082 $9,807 
Cost of sales4,474 2,714 1,851 9,039 
SARD 2
222 122 158 502 
Equity in earnings (losses) of nonconsolidated affiliates(6)(68)1 (73)
Other segment income (expense) items 3
10 23 6 39 
Segment Operating EBIT 4
$199 $(47)$80 $232 
Three months ended Sep 30, 2024
Net sales$5,516 $2,962 $2,214 $10,692 
Cost of sales4,675 2,893 1,881 9,449 
SARD 2
260 134 169 563 
Equity in earnings (losses) of nonconsolidated affiliates16 (17)1 — 
Other segment income (expense) items 3
21 29 (25)25 
Segment Operating EBIT 4
$618 $(53)$140 $705 
Nine months ended Sep 30, 2025
Net sales$15,226 $8,475 $6,282 $29,983 
Cost of sales13,967 8,368 5,510 27,845 
SARD 2
683 365 456 1,504 
Equity in earnings (losses) of nonconsolidated affiliates40 (165)2 (123)
Other segment income (expense) items 3
(4)63 (37)22 
Segment Operating EBIT 4
$612 $(360)$281 $533 
Nine months ended Sep 30, 2024
Net sales$16,461 $8,921 $6,609 $31,991 
Cost of sales13,888 8,472 5,690 28,050 
SARD 2
768 397 523 1,688 
Equity in earnings (losses) of nonconsolidated affiliates96 (63)9 42 
Other segment income (expense) items 3
25 52 (78)(1)
Segment Operating EBIT 4
$1,926 $41 $327 $2,294 
1.Significant expense categories are presented on an operating basis, net of the impact of significant items.
2.SARD includes selling, general and administrative and research and development expenses.
3.Other segment items includes amortization of intangibles and sundry income (expense) - net.
4.Segment Operating EBIT for TDCC for the three and nine months ended September 30, 2025 and 2024 is substantially the same as that of Dow Inc. and therefore is not disclosed separately in the table above. A reconciliation of "Segment Operating EBIT" to "Income (loss) before income taxes" is provided in the following table.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Reconciliation of "Segment Operating EBIT" to "Income (Loss) Before Income Taxes"
Three Months EndedNine Months Ended
In millionsSep 30, 2025Sep 30, 2024Sep 30, 2025Sep 30, 2024
Segment Operating EBIT$232 $705 $533 $2,294 
+ Corporate Operating EBIT(52)(64)(144)(160)
+ Interest income47 36 114 143 
- Interest expense and amortization of debt discount221 199 646 595 
+ Significant items64 (154)(820)(301)
Income (loss) before income taxes$70 $324 $(963)$1,381 
Schedule of Other Segment Information [Table Text Block]
Other Segment InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment Total
Corp. 1
Total
In millions
Three months ended Sep 30, 2025
Net sales$4,891 $2,834 $2,082 $9,807 $166 $9,973 
Depreciation and amortization$349 $158 $174 $681 $7 $688 
Capital expenditures$433 $72 $59 $564 $— $564 
Operating EBIT$199 $(47)$80 $232 $(52)$180 
Three months ended Sep 30, 2024
Net sales$5,516 $2,962 $2,214 $10,692 $187 $10,879 
Depreciation and amortization$384 $155 $194 $733 $8 $741 
Capital expenditures$490 $165 $81 $736 $— $736 
Operating EBIT$618 $(53)$140 $705 $(64)$641 
Nine months ended Sep 30, 2025
Net sales$15,226 $8,475 $6,282 $29,983 $525 $30,508 
Depreciation and amortization$1,078 $457 $566 $2,101 $25 $2,126 
Capital expenditures$1,458 $303 $150 $1,911 $— $1,911 
Operating EBIT$612 $(360)$281 $533 $(144)$389 
Nine months ended Sep 30, 2024
Net sales$16,461 $8,921 $6,609 $31,991 $568 $32,559 
Depreciation and amortization$1,098 $443 $578 $2,119 $24 $2,143 
Capital expenditures$1,434 $497 $242 $2,173 $— $2,173 
Operating EBIT$1,926 $41 $327 $2,294 $(160)$2,134 
1.Corporate contains the reconciliation between the totals for the operating segments and the Company's totals. Net sales for Corporate are primarily related to insurance operations. Corporate expenses are primarily related to insurance operations, salaries and wages and non-business aligned environmental and legal costs.
Segment Asset Information
Segment Asset InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment TotalCorp.Total
In millions
Sep 30, 2025
Total assets$30,981 $12,739 $11,894 $55,614 $5,376 $60,990 
Investments in nonconsolidated affiliates 1
$675 $401 $143 $1,219 $36 $1,255 
Dec 31, 2024
Total assets$29,034 $11,928 $11,170 $52,132 $5,180 $57,312 
Investments in nonconsolidated affiliates 1
$711 $367 $146 $1,224 $42 $1,266 
1.See Note 10 for additional information regarding the Company's investments in nonconsolidated affiliates.
Schedule of significant items [Table Text Block]
The following tables summarize the pretax impact of significant items by segment excluded from Operating EBIT:

Significant Items by Segment
In millionsPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsOperating Segment TotalCorp.Total
Three months ended Sep 30, 2025
2025 Restructuring Program severance and related benefit costs and asset related charges 1
$(3)$(6)$(3)$(12)$(11)$(23)
Implementation costs 2
— — — — (5)(5)
Net gain on divestitures and asset sale 3
— — — — 110 110 
Loss on early extinguishment of debt 4
— — — — (18)(18)
Total significant items by segment$(3)$(6)$(3)$(12)$76 $64 
Nine months ended Sep 30, 2025
Restructuring, implementation and efficiency costs, and asset related charges - net 5
$— $(1)$— $(1)$(50)$(51)
2025 Restructuring Program severance and related benefit costs and asset related charges 1
(161)(95)(150)(406)(415)(821)
Implementation costs 2
— — — — (10)(10)
Net gain on divestitures and asset sale 3
— 103 — 103 110 213 
Litigation related charges, awards and adjustments 6
— — — — 42 42 
Loss on early extinguishment of debt 4
— — — — (78)(78)
Indemnification and other transaction related costs 7
— — — — (115)(115)
Total significant items by segment$(161)$7 $(150)$(304)$(516)$(820)
1.Severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring Program. See Note 5 for additional information.
2.Implementation costs associated with the Company's 2025 Restructuring Program and the sale of membership interests of Diamond Infrastructure Solutions.
3.The three and nine months ended September 30, 2025 relate to a gain on the sale of the Company's ownership interest in a nonconsolidated affiliate. The nine months ended September 30, 2025 also includes a gain on the sale of the soil fumigation product line. See Note 4 for additional information.
4.The Company retired outstanding long-term debt resulting in a loss on early extinguishment. See Note 13 for additional information.
5.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. The nine months ended September 30, 2024 also includes impairment charges related to the write-down of certain manufacturing assets, partially offset by an asset related credit adjustment. See Note 5 for additional information.
6.Includes a gain associated with the reassessment of liabilities for certain accrued Groundwater Matters, partially offset by the settlement of a separate claim related to water storage district Groundwater Matters. See Note 14 for additional information.
7.Charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. The nine months ended September 30, 2025 also includes a charge related to an arbitration settlement agreement for historical product claims from a divested business. See Note 14 for additional information.

Significant Items by SegmentPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment TotalCorp.Total
In millions
Three months ended Sep 30, 2024
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$— $— $(7)$(7)$(72)$(79)
Indemnification and other transactions related costs 2
— — — — (75)(75)
Total significant items by segment$— $— $(7)$(7)$(147)$(154)
Nine months ended Sep 30, 2024
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$(37)$(8)$(7)$(52)$(174)$(226)
Indemnification and other transactions related costs 2
— — — — (75)(75)
Total significant items by segment$(37)$(8)$(7)$(52)$(249)$(301)
1.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. The nine months ended September 30, 2024 also includes impairment charges related to the write-down of certain manufacturing assets.
2.Includes a charge related to an arbitration settlement agreement for historical product claims from a divested business. See Note 14 for additional information.
v3.25.3
REVENUE (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Revenue from External Customer [Line Items]          
Revenue, Percentage from Products and Service Transferred to Customers 98.00% 97.00% 98.00% 98.00%  
Revenue, Remaining Performance Obligation, Amount $ 735   $ 735   $ 759
Revenues 9,973 $ 10,879 30,508 $ 32,559  
Contract with Customer, Liability, Revenue Recognized     170 135  
Accounts and notes receivable - Trade 5,044   5,044   4,756
Contract assets - noncurrent 0   0   2
Contract liabilities - current 220   220   244
Contract liabilities - noncurrent 1 1,791   1,791   1,480
The Dow Chemical Company          
Revenue from External Customer [Line Items]          
Accounts and notes receivable - Trade 5,044   5,044   $ 4,756
U.S. & Canada          
Revenue from External Customer [Line Items]          
Revenues 3,914 4,149 12,129 12,470  
EMEAI 1          
Revenue from External Customer [Line Items]          
Revenues 3,090 3,568 9,636 10,624  
Asia Pacific          
Revenue from External Customer [Line Items]          
Revenues 1,838 1,890 5,433 5,712  
Latin America          
Revenue from External Customer [Line Items]          
Revenues $ 1,131 1,272 $ 3,310 3,753  
Maximum [Member]          
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]          
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 18 years   18 years    
Packaging & Specialty Plastics [Member]          
Revenue from External Customer [Line Items]          
Revenues $ 4,891 5,516 $ 15,226 16,461  
Packaging & Specialty Plastics [Member] | Hydrocarbons & Energy [Member]          
Revenue from External Customer [Line Items]          
Revenues 1,233 1,433 4,161 4,347  
Packaging & Specialty Plastics [Member] | Packaging and Specialty Plastics [Member]          
Revenue from External Customer [Line Items]          
Revenues 3,658 4,083 11,065 12,114  
Industrial Intermediates & Infrastructure [Member]          
Revenue from External Customer [Line Items]          
Revenues 2,834 2,962 8,475 8,921  
Industrial Intermediates & Infrastructure [Member] | Industrial Solutions [Member]          
Revenue from External Customer [Line Items]          
Revenues 1,004 1,039 3,043 3,107  
Industrial Intermediates & Infrastructure [Member] | Polyurethanes & CAV [Member]          
Revenue from External Customer [Line Items]          
Revenues 1,826 1,919 5,420 5,805  
Industrial Intermediates & Infrastructure [Member] | Other [Member]          
Revenue from External Customer [Line Items]          
Revenues 4 4 12 9  
Performance Materials & Coatings [Member]          
Revenue from External Customer [Line Items]          
Revenues 2,082 2,214 6,282 6,609  
Performance Materials & Coatings [Member] | Coatings and Performance Monomers [Member]          
Revenue from External Customer [Line Items]          
Revenues 809 891 2,518 2,704  
Performance Materials & Coatings [Member] | Consumer Solutions [Member]          
Revenue from External Customer [Line Items]          
Revenues 1,273 1,323 3,764 3,905  
Corporate Segment [Member]          
Revenue from External Customer [Line Items]          
Revenues $ 166 $ 187 $ 525 $ 568  
v3.25.3
Discontinued Operations and Disposal Groups (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Aug. 08, 2025
May 01, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal $ (110)   $ (213)      
Telone Soil Fumigation            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment           $ 5
Disposal Group, Including Discontinued Operation, Goodwill           $ 10
DowAksa            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Disposal Group, Including Discontinued Operation, Investment         $ 11  
Industrial Intermediates & Infrastructure [Member] | Telone Soil Fumigation            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from Divestiture of Businesses     121      
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal     103      
Corporate Segment [Member] | DowAksa            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from Divestiture of Businesses 121          
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal $ 110 $ 0 $ 110 $ 0    
v3.25.3
Restructuring and related activities (2025 Restructuring Program) (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net $ 23,000,000     $ 24,000,000 $ 822,000,000 $ 69,000,000
Pension Plan [Member]            
Restructuring Cost and Reserve [Line Items]            
Settlement cost $ 10,000,000     $ 0 $ 10,000,000 $ 0
2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring and related workforce reduction 1,500       1,500  
Restructuring and asset related charges - net $ 23,000,000 $ 591,000,000 $ 207,000,000      
Restructuring Reserve, Settled without Cash (23,000,000) (437,000,000)        
Payments for Restructuring (66,000,000) (16,000,000)        
Restructuring Reserve 279,000,000 345,000,000 207,000,000   $ 279,000,000  
Restructuring Charges         821,000,000  
Asset Retirement Obligation, Liabilities Incurred         105,000,000  
2025 Program | Employee Severance [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 154,000,000 207,000,000      
Restructuring Reserve, Settled without Cash 0 0        
Payments for Restructuring (66,000,000) (16,000,000)     (82,000,000)  
Restructuring Reserve 279,000,000 345,000,000 207,000,000   279,000,000  
Restructuring Charges         361,000,000  
2025 Program | Asset write-downs and write-offs [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 8,000,000 334,000,000 0      
Restructuring Reserve, Settled without Cash (8,000,000) (334,000,000)        
Payments for Restructuring 0 0        
Restructuring Reserve 0 0 0   0  
Restructuring Charges         342,000,000  
2025 Program | Costs Associated with Exit and Disposal Activities [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 15,000,000 103,000,000 0      
Restructuring Reserve, Settled without Cash (15,000,000) (103,000,000)        
Payments for Restructuring 0 0        
Restructuring Reserve 0 0 0   0  
Restructuring Charges         118,000,000  
2025 Program | Costs Associated with Exit and Disposal Activities [Member] | Additional Cash Expenditures            
Restructuring Cost and Reserve [Line Items]            
Restructuring and Related Cost, Expected Cost 60,000,000       60,000,000  
2025 Program | Restructuring Implementation Costs            
Restructuring Cost and Reserve [Line Items]            
Payments for Restructuring (5,000,000)       (10,000,000)  
Restructuring Charges 5,000,000       10,000,000  
2025 Program | Restructuring Implementation Costs | Additional Cash Expenditures            
Restructuring Cost and Reserve [Line Items]            
Restructuring and Related Cost, Expected Cost 220,000,000       220,000,000  
Segment Reporting, Reconciling Item, Corporate Nonsegment | 2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 11,000,000 197,000,000 207,000,000      
Segment Reporting, Reconciling Item, Corporate Nonsegment | 2025 Program | Employee Severance [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 154,000,000 207,000,000      
Segment Reporting, Reconciling Item, Corporate Nonsegment | 2025 Program | Asset write-downs and write-offs [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 1,000,000 43,000,000 0      
Segment Reporting, Reconciling Item, Corporate Nonsegment | 2025 Program | Costs Associated with Exit and Disposal Activities [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 10,000,000 0 $ 0      
Segment Reporting, Reconciling Item, Corporate Nonsegment | 2025 Program | Restructuring Implementation Costs            
Restructuring Cost and Reserve [Line Items]            
Restructuring Charges 5,000,000       10,000,000  
Packaging & Specialty Plastics [Member] | 2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 3,000,000 158,000,000        
Packaging & Specialty Plastics [Member] | 2025 Program | Employee Severance [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 0        
Packaging & Specialty Plastics [Member] | 2025 Program | Asset write-downs and write-offs [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 3,000,000 81,000,000        
Packaging & Specialty Plastics [Member] | 2025 Program | Costs Associated with Exit and Disposal Activities [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 77,000,000        
Industrial Intermediates & Infrastructure [Member] | 2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 6,000,000 89,000,000        
Industrial Intermediates & Infrastructure [Member] | 2025 Program | Employee Severance [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 0        
Industrial Intermediates & Infrastructure [Member] | 2025 Program | Asset write-downs and write-offs [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 1,000,000 63,000,000        
Industrial Intermediates & Infrastructure [Member] | 2025 Program | Costs Associated with Exit and Disposal Activities [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 5,000,000 26,000,000        
Performance Materials & Coatings [Member] | 2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 3,000,000 147,000,000        
Performance Materials & Coatings [Member] | 2025 Program | Employee Severance [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 0        
Performance Materials & Coatings [Member] | 2025 Program | Asset write-downs and write-offs [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 3,000,000 147,000,000        
Performance Materials & Coatings [Member] | 2025 Program | Costs Associated with Exit and Disposal Activities [Member]            
Restructuring Cost and Reserve [Line Items]            
Restructuring and asset related charges - net 0 $ 0        
Accrued and Other Current Liabilities [Member] | 2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring Reserve 141,000,000       141,000,000  
Other Noncurrent Obligations [Member] | 2025 Program            
Restructuring Cost and Reserve [Line Items]            
Restructuring Reserve $ 138,000,000       $ 138,000,000  
v3.25.3
RESTRUCTURING AND ASSET RELATED CHARGES - NET (2023 Restructuring Program) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]          
Restructuring and asset related charges - net $ (23)   $ (24) $ (822) $ (69)
2023 Restructuring Program | Restructuring Implementation Costs          
Restructuring Cost and Reserve [Line Items]          
Payments for Restructuring $ 0   $ 55 50 $ 157
Industrial Intermediates & Infrastructure [Member] | 2023 Restructuring Program | Asset write-downs and write-offs [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring and asset related charges - net   $ (5)   $ (5)  
Industrial Intermediates & Infrastructure [Member] | 2023 Restructuring Program | Asset related credit adjustment          
Restructuring Cost and Reserve [Line Items]          
Restructuring and asset related charges - net   $ (4)      
v3.25.3
Summary of Sundry Income (Expense) - Net (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal $ (110)   $ (213)  
Gain (Loss) on Extinguishment of Debt 18   78  
Other Nonoperating Income (Expense) 43 $ 44 97 $ 69
Charges related to separation, distribution and tax matters agreements   (75) (115) (75)
Sundry income (expense) - net 185 119 345 256
Net gain on sales of assets, businesses and investments     211 58
Corporate Segment [Member]        
Charges related to separation, distribution and tax matters agreements   (75)   (75)
Industrial Intermediates & Infrastructure [Member]        
Charges related to separation, distribution and tax matters agreements   0   0
DowAksa | Corporate Segment [Member]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 110 0 110 0
Telone Soil Fumigation | Industrial Intermediates & Infrastructure [Member]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal     103  
Nonoperating Income (Expense)        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 36 61 110 183
Foreign Currency Transaction Gain (Loss), before Tax 12 (14) 23 (49)
Gain (Loss) on Disposition of Other Assets 5 27 0 46
Gain (Loss) on Extinguishment of Debt (18) 0 (78) 5
Charges related to separation, distribution and tax matters agreements $ (3) $ 1 $ (20) 2
Nonoperating Income (Expense) | Warehouse        
Net gain on sales of assets, businesses and investments       $ 25
v3.25.3
Company-Owned Life Insurance (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Gross Life Insurance, Corporate or Bank Owned, Amount $ 515 $ 558
Life Insurance, Corporate or Bank Owned, Amount 313 558
COLI Monetization [Member]    
Other Short-term Borrowings 197 0
Interest Payable $ 5 $ 0
v3.25.3
Supplier Finance Program (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Minimum [Member]    
Supplier Finance Program, Payment Timing, Period 90 days  
Maximum [Member]    
Supplier Finance Program, Payment Timing, Period 120 days  
Accounts Payable    
Supplier Finance Program Obligation, Current $ 288 $ 291
v3.25.3
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2025
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]          
Income (loss) before income taxes $ 70 $ 324   $ (963) $ 1,381
Provision (credit) for income taxes $ (54) $ 84   $ 4 $ 145
Effective Income Tax Rate Reconciliation, Percent (77.10%) 25.90%   (0.40%) 10.50%
Effective Income Tax Rate Reconciliation, Sale of Membership Interest, Amount $ 20   $ 89    
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount       $ (242)  
Effective Income Tax Rate Reconciliation, Tax Credit, Amount         $ 194
v3.25.3
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net income (loss) $ 124 $ 240 $ (967) $ 1,236
Net income attributable to noncontrolling interests 62 26 113 67
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic 2 3 9 9
Net Income (Loss) Available to Common Stockholders, Basic $ 60 $ 211 $ (1,089) $ 1,160
Earnings Per Share, Basic $ 0.08 $ 0.30 $ (1.53) $ 1.65
Earnings Per Share, Diluted $ 0.08 $ 0.30 $ (1.53) $ 1.65
Weighted-average common shares outstanding - basic 711.8 702.3 709.4 703.5
Dilutive effect of equity compensation plans 1.4 1.3 0.0 1.4
Weighted-average common shares outstanding - diluted 713.2 703.6 709.4 704.9
Stock options and restricted stock units excluded from EPS calculations 19.3 10.5 23.6 9.6
v3.25.3
INVENTORIES (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Finished goods $ 3,709 $ 3,773
Work in process 1,300 1,323
Raw materials 839 822
Supplies 1,176 1,039
Total 7,024 6,957
Adjustment of inventories to the LIFO basis (349) (413)
Total inventories $ 6,675 $ 6,544
v3.25.3
NONCONSOLIDATED AFFILIATES (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]    
Investment in nonconsolidated affiliates $ 1,255 $ 1,266
Equity Method Investment, Liability, Noncurrent 892 568
Equity Method Investment, Net of Investment Liabilities 363 698
EQUATE Petrochemical Company Ksc [Member]    
Schedule of Equity Method Investments [Line Items]    
Equity Method Investment, Liability, Noncurrent 41 51
Sadara Chemical Company [Member]    
Schedule of Equity Method Investments [Line Items]    
Equity Method Investment, Liability, Noncurrent $ 851 $ 517
v3.25.3
GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Goodwill (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Goodwill [Line Items]    
Goodwill $ 8,690 $ 8,565
Goodwill, Foreign Currency Translation, Gain (Loss) 135  
Telone Soil Fumigation    
Goodwill [Line Items]    
Goodwill, Written off Related to Sale of Business Unit (10)  
Packaging & Specialty Plastics [Member]    
Goodwill [Line Items]    
Goodwill 5,131 5,118
Goodwill, Foreign Currency Translation, Gain (Loss) 13  
Packaging & Specialty Plastics [Member] | Telone Soil Fumigation    
Goodwill [Line Items]    
Goodwill, Written off Related to Sale of Business Unit 0  
Industrial Intermediates & Infrastructure [Member]    
Goodwill [Line Items]    
Goodwill 1,087 1,092
Goodwill, Foreign Currency Translation, Gain (Loss) 5  
Industrial Intermediates & Infrastructure [Member] | Telone Soil Fumigation    
Goodwill [Line Items]    
Goodwill, Written off Related to Sale of Business Unit (10)  
Performance Materials & Coatings [Member]    
Goodwill [Line Items]    
Goodwill 2,472 $ 2,355
Goodwill, Foreign Currency Translation, Gain (Loss) 117  
Performance Materials & Coatings [Member] | Telone Soil Fumigation    
Goodwill [Line Items]    
Goodwill, Written off Related to Sale of Business Unit $ 0  
v3.25.3
TRANSFERS OF FINANCIAL ASSETS (Details)
€ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
EUR (€)
Dec. 31, 2024
USD ($)
Cash Flows Between Transferor and Transferee, Proceeds from New Transfers $ 0 $ 198 $ 538 $ 1,248    
Balance Outstanding Related to Transfers of Accounts Receivable 6   6     $ 287
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized 0   0     278
Transfers of Accounts Receivable, Amounts Recognized in the Balance Sheet Not Remitted 6   6     $ 9
Accounts Receivable Facility, U.S.            
Trade Accounts Receivable Eligible for Sale $ 900   $ 900      
Accounts Receivable Facility, Europe [Member]            
Trade Accounts Receivable Eligible for Sale | €         € 500  
v3.25.3
NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Notes Payable (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Short-term Debt [Line Items]    
Period-end average interest rates 40.08% 36.03%
Notes Payable to Banks [Member]    
Short-term Debt [Line Items]    
Short-term Debt $ 133 $ 135
v3.25.3
NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Long-Term Debt (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]        
Unamortized debt discount and issuance costs $ (231)   $ (231) $ (244)
Long-term debt due within one year 3 (413)   (413) (497)
Long-Term Debt (variable interest entities nonrecourse) 17,709   17,709 15,711
Long Term Debt, Accumulated Fair Value Adjustment 35   35 $ 9
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year 245   245  
Long-Term Debt, Maturity, Year One 207   207  
Long-term Debt, Maturities, Repayments of Principal in Year Two 782   782  
Long-term Debt, Maturities, Repayments of Principal in Year Three 750   750  
Long-term Debt, Maturities, Repayments of Principal in Year Four 1,061   1,061  
Long-term Debt, Maturities, Repayments of Principal in Year Five 996   996  
Gain (Loss) on Extinguishment of Debt (18)   (78)  
Repayments of Long-term Debt     125  
Senior Unsecured Notes        
Debt Instrument [Line Items]        
Debt Instrument, Face Amount $ 1,400 $ 1,000 1,400  
InterNotes        
Debt Instrument [Line Items]        
Notes Issued     $ 252  
Senior Unsecured Notes, 5.35 Percent, Due 2035        
Debt Instrument [Line Items]        
Debt Instrument, Interest Rate, Stated Percentage   5.35%    
Debt Instrument, Face Amount   $ 400    
Senior Unsecured Notes, 5.95 Percent, Due 2055        
Debt Instrument [Line Items]        
Debt Instrument, Interest Rate, Stated Percentage   5.95%    
Debt Instrument, Face Amount   $ 600    
Debt Securities [Member]        
Debt Instrument [Line Items]        
Repayments of Debt   943    
Debt Securities [Member] | Sundry Income (Expense), Net [Member]        
Debt Instrument [Line Items]        
Gain (Loss) on Extinguishment of Debt   $ 60    
Senior Unsecured Notes, 4.80 Percent, Due 2031        
Debt Instrument [Line Items]        
Debt Instrument, Interest Rate, Stated Percentage 4.80%   4.80%  
Debt Instrument, Face Amount $ 750   $ 750  
Senior Unsecured Notes, 5.65 Percent, Due 2036        
Debt Instrument [Line Items]        
Debt Instrument, Interest Rate, Stated Percentage 5.65%   5.65%  
Debt Instrument, Face Amount $ 650   $ 650  
9.40% Notes Due May 2039        
Debt Instrument [Line Items]        
Debt Instrument, Interest Rate, Stated Percentage 9.40%   9.40%  
Repayments of Debt $ 55      
9.40% Notes Due May 2039 | Sundry Income (Expense), Net [Member]        
Debt Instrument [Line Items]        
Gain (Loss) on Extinguishment of Debt $ 18      
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year One [Member]        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 4.55%   4.55% 5.63%
Long-term Debt, Gross $ 208   $ 208 $ 333
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Four [Member]        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 4.80%   4.80% 4.80%
Long-term Debt, Gross $ 600   $ 600 $ 600
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Five [Member]        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 7.53%   7.53% 7.58%
Long-term Debt, Gross $ 951   $ 951 $ 1,368
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Six        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 2.10%   2.10% 2.10%
Long-term Debt, Gross $ 818   $ 818 $ 818
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Seven and Thereafter        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 5.41%   5.41% 5.37%
Long-term Debt, Gross $ 11,561   $ 11,561 $ 9,192
Loans Payable [Member] | Foreign Currency Loans [Member]        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 2.56%   2.56% 2.01%
Long-term Debt, Gross $ 2,244   $ 2,244 $ 2,540
InterNotes        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 4.71%   4.71% 4.31%
Long-term Debt, Gross $ 891   $ 891 $ 661
Medium-term Notes [Member]        
Debt Instrument [Line Items]        
Long-term Debt, Weighted Average Interest Rate, at Point in Time 4.75%   4.75% 4.75%
Long-term Debt, Gross $ 1   $ 1 $ 1
Finance Leases [Member]        
Debt Instrument [Line Items]        
Finance lease obligations 2 $ 1,079   $ 1,079 $ 939
v3.25.3
NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Committed and Available Credit Facilities (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity $ 8,400
Line of Credit Facility, Remaining Borrowing Capacity 8,400
Revolving Credit Facility [Member] | Five Year Competitive Advance and Revolving Credit Facility [Member]  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 5,000
Line of Credit Facility, Remaining Borrowing Capacity 5,000
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2025, Facility One [Member]  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 100
Line of Credit Facility, Remaining Borrowing Capacity 100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2025, Facility Two [Member]  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 100
Line of Credit Facility, Remaining Borrowing Capacity 100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2025  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 200
Line of Credit Facility, Remaining Borrowing Capacity 200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2026  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 100
Line of Credit Facility, Remaining Borrowing Capacity 100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2026  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 150
Line of Credit Facility, Remaining Borrowing Capacity 150
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due May 2027  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 100
Line of Credit Facility, Remaining Borrowing Capacity 100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due June 2027  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 350
Line of Credit Facility, Remaining Borrowing Capacity 350
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2027  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 200
Line of Credit Facility, Remaining Borrowing Capacity 200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2025, Facility Two  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 175
Line of Credit Facility, Remaining Borrowing Capacity 175
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2025  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 300
Line of Credit Facility, Remaining Borrowing Capacity 300
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2026, Facility Two  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 200
Line of Credit Facility, Remaining Borrowing Capacity 200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2027  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 250
Line of Credit Facility, Remaining Borrowing Capacity 250
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due October 2027  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 100
Line of Credit Facility, Remaining Borrowing Capacity 100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2027  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 100
Line of Credit Facility, Remaining Borrowing Capacity 100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due Due May 2028  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 300
Line of Credit Facility, Remaining Borrowing Capacity 300
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due October 2024  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 375
Line of Credit Facility, Remaining Borrowing Capacity 375
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due February 2026  
Line of Credit Facility [Line Items]  
Line of Credit Facility, Maximum Borrowing Capacity 300
Line of Credit Facility, Remaining Borrowing Capacity $ 300
v3.25.3
COMMITMENTS AND CONTINGENCIES (Environmental Matters) (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Accrual for environmental loss contingencies $ 1,044 $ 1,113
Accrual For Environmental Loss Contingencies Superfund Sites [Member]    
Loss Contingencies [Line Items]    
Accrual for environmental loss contingencies $ 220 $ 234
v3.25.3
COMMITMENTS AND CONTINGENCIES (Asbestos-Related Matters of Union Carbide Corporation) (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Liability for Asbestos and Environmental Claims, Gross $ 726 $ 791
Percentage of recorded asbestos liability related to pending claims 26.00%  
Percentage of recorded asbestos liability related to future claims 74.00%  
v3.25.3
Commitment and Contingencies (Legacy Matters) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2025
Dec. 31, 2024
Legacy agricultural chemical prodcuts      
Product Liability Contingency [Line Items]      
Product Liability Accrual, Component Amount   $ 78 $ 155
Legacy agricultural chemical prodcuts | Segment Reporting, Reconciling Item, Corporate Nonsegment      
Product Liability Contingency [Line Items]      
Product Liability Accrual, Period Expense   (106)  
Legacy agricultural chemical products , Water Storage Districts | Segment Reporting, Reconciling Item, Corporate Nonsegment      
Product Liability Contingency [Line Items]      
Product Liability Accrual, Period Expense   64  
Legacy historical product claims - arbitration      
Product Liability Contingency [Line Items]      
Product Liability Accrual, Period Expense $ 75    
Legacy historical product claims - arbitration | Segment Reporting, Reconciling Item, Corporate Nonsegment      
Product Liability Contingency [Line Items]      
Product Liability Accrual, Period Expense   $ 98  
v3.25.3
COMMITMENTS AND CONTINGENCIES Nova Ethylene Asset Matter (Details) - Nova Ethylene Asset Matter [Member]
$ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 18, 2019
CAD ($)
Sep. 18, 2019
USD ($)
Sep. 30, 2025
USD ($)
Jun. 30, 2025
CAD ($)
Jun. 30, 2025
USD ($)
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Gain Contingencies [Line Items]              
Litigation Settlement, Amount Awarded from Other Party $ 1,430 $ 1,080 $ 100 $ 1,620 $ 1,200 $ 1,300  
Estimated Litigation Liability, Noncurrent     $ 201     $ 201 $ 201
v3.25.3
COMMITMENTS AND CONTINGENCIES (Guarantees) (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Sadara Chemical Company [Member]    
Guarantor Obligations [Line Items]    
Equity Method Investment, Ownership Percentage 35.00%  
Performance Guarantee [Member]    
Guarantor Obligations [Line Items]    
Guarantor obligations, maximum future payments $ 1,223 $ 1,456
Guarantor obligations, recorded liability 138 155
Performance Guarantee [Member] | Sadara Chemical Company [Member]    
Guarantor Obligations [Line Items]    
Guarantor obligations, maximum future payments 1,300  
Performance Guarantee [Member] | Sadara Chemical Company [Member] | Sadara Chemical Company [Member]    
Guarantor Obligations [Line Items]    
Guarantor obligations, maximum future payments 500  
Accounts Receivable Facilities Performance    
Guarantor Obligations [Line Items]    
Guarantor obligations, maximum future payments $ 0 $ 239
v3.25.3
Commitment and Contingencies (Asset Retirement Obligations) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Other Commitments [Line Items]    
Asset Retirement Obligation $ 306 $ 174
2025 Program    
Other Commitments [Line Items]    
Asset Retirement Obligation, Liabilities Incurred $ 105  
v3.25.3
LEASES COSTS AND OTHER INFORMATION (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Leases [Abstract]        
Operating Lease, Cost $ 104 $ 112 $ 319 $ 329
Finance Lease, Right-of-Use Asset, Amortization 33 31 97 86
Finance Lease, Interest Expense 13 11 37 33
Finance Lease, Cost 46 42 134 119
Short-term Lease, Cost 77 80 244 242
Variable Lease, Cost 304 280 842 803
Sublease Income (3) (2) (6) (7)
Lease, Cost $ 528 $ 512 1,533 1,486
Operating Lease, Payments     329 334
Finance Lease, Interest Payment on Liability     37 33
Finance Lease, Principal Payments     83 95
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability     262 186
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability     $ 202 $ 183
v3.25.3
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Other Comprehensive Income (Loss), Net of Tax $ 63 $ 282 $ 347 $ 178        
Derivative instruments 11 31 (7) 3        
Total equity 19,064 18,841 19,064 18,841   $ 17,851    
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Other Comprehensive Income (Loss), before Reclassifications, before Tax 63 59 78 139        
Other Comprehensive Income (Loss), Tax (8) (15) (13) (35)        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 55 44 65 104        
Other Comprehensive Income (Loss), Net of Tax 57 34 67 89        
Total equity (176) (164) (176) (164) $ (233) (243) $ (198) $ (253)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax 3 (12) 3 (19)        
Reclassification from AOCI, Current Period, Tax (1) 2 (1) 4        
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 2 (10) 2 (15)        
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Other Comprehensive Income (Loss), before Reclassifications, before Tax (69) 197 186 42        
Other Comprehensive Income (Loss), Tax 47 8 62 5        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (22) 205 248 47        
Other Comprehensive Income (Loss), Net of Tax (33) 199 218 34        
Total equity (1,845) (1,857) (1,845) (1,857) (1,812) (2,063) (2,056) (1,891)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (11) (6) (30) (13)        
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Other Comprehensive Income (Loss), before Reclassifications, before Tax (1) 2 0 2        
Other Comprehensive Income (Loss), Net of Tax 28 18 69 52        
Total equity (5,651) (5,434) (5,651) (5,434) (5,679) (5,720) (5,452) (5,486)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax 36 21 88 64        
Reclassification from AOCI, Current Period, Tax (7) (5) (19) (14)        
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 29 16 69 50        
Accumulated Other Comprehensive Loss                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Other Comprehensive Income (Loss), Net of Tax 63 282 347 178        
Total equity (7,763) (7,503) (7,763) (7,503) (7,826) (8,110) (7,785) (7,681)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Other Comprehensive Income (Loss), before Reclassifications, before Tax (4) 37 (13) (9)        
Other Comprehensive Income (Loss), Tax 2 (9) (4) 2        
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (2) 28 (17) (7)        
Derivative instruments 11 31 (7) 3        
Total equity (91) (48) (91) (48) $ (102) $ (84) $ (79) $ (51)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Reclassification out of Accumulated Other Comprehensive Income [Member]                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax 17 4 14 13        
Reclassification from AOCI, Current Period, Tax (4) (1) (4) (3)        
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax $ 13 $ 3 $ 10 $ 10        
v3.25.3
NONCONTROLLING INTERESTS Noncontrolling Interests (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Noncontrolling Interest [Line Items]                
Percentage of Membership Interests in Diamond Infrastructure Solutions Sold 9.00% 40.00%            
Proceeds from Noncontrolling Interests       $ 2,943,000,000 $ 0      
Total equity $ 19,064,000,000   $ 18,841,000,000 19,064,000,000 18,841,000,000 $ 17,851,000,000    
Noncontrolling Interest [Member]                
Noncontrolling Interest [Line Items]                
Proceeds from Noncontrolling Interests 540,000,000 $ 2,400,000,000            
Total equity 1,523,000,000 1,361,000,000 530,000,000 1,523,000,000 530,000,000 496,000,000 $ 482,000,000 $ 501,000,000
Net income attributable to noncontrolling interests 62,000,000   26,000,000 113,000,000 67,000,000      
Distributions to noncontrolling interests 1 (89,000,000)   (2,000,000) (137,000,000) (41,000,000)      
Cumulative translation adjustments (5,000,000)   24,000,000 23,000,000 4,000,000      
Noncontrolling Interest, Increase from Sale of Parent Equity Interest 194,000,000   0 1,028,000,000 0      
Other 0   0 0 (1,000,000)      
Dividends Paid to a Joint Venture Not Included in Distributions to NCI 0   8,000,000 8,000,000 8,000,000      
Dividend Declared to Diamond Infrastructure but Not Yet Paid 51,000,000     51,000,000        
Additional Paid-in Capital [Member]                
Noncontrolling Interest [Line Items]                
Noncontrolling Interest in Net Income (Loss) Other Noncontrolling Interests, Redeemable 339,000,000   0 1,879,000,000 0      
Total equity $ 11,099,000,000 $ 10,758,000,000 $ 9,055,000,000 $ 11,099,000,000 $ 9,055,000,000 $ 9,203,000,000 $ 9,012,000,000 $ 8,880,000,000
v3.25.3
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Pension Plan [Member]        
Defined Benefit Plan Disclosures [Line Items]        
Service cost $ 12 $ 14 $ 33 $ 42
Interest cost 251 252 746 754
Expected return on plan assets 324 345 965 1,034
Amortization of prior service credit (4) (3) (10) (10)
Defined Benefit Plan, Amortization of (Gain) Loss 42 34 123 105
Settlement cost 10 0 10 0
Net periodic benefit cost (13) (48) (63) (143)
Other Postretirement Benefits [Member]        
Defined Benefit Plan Disclosures [Line Items]        
Service cost 0 1 2 3
Interest cost 11 11 31 33
Defined Benefit Plan, Amortization of (Gain) Loss (12) (10) (35) (31)
Net periodic benefit cost $ (1) $ 2 $ (2) $ 5
v3.25.3
STOCK-BASED COMPENSATION (Stock Incentive Plan) (Details) - $ / shares
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross   1,800  
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price   $ 38.34  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 8.27  
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate 10.00%   10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent     85.00%
Employee Stock Purchase Plan | Employee      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Right to purchase shares subscribed by employees 4,200    
Restricted Stock Units (RSUs) [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   3,000  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 38.34  
Performance Stock Units (PSUs) [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   2,100  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 38.46  
v3.25.3
Debt Investments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]          
Proceeds from sales of available-for-sale securities     $ 320 $ 1,730  
Gross realized gains     6 34  
Available-for-sale Securities, Gross Realized Losses     (9) (15)  
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost $ 113   113    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value 108   108    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost 1,113   1,113    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value 1,039   1,039    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost 446   446    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value 448   448    
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost 549   549    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value 468   468    
Debt Securities, Available-for-sale, Amortized Cost 2,221   2,221    
Debt Securities, Available-for-sale 2,063   2,063    
Equity Securities, Net Unrealized Gain (Loss) (2) $ (1) (4) $ (1)  
Equity Securities, FV-NI, Current 10   10   $ 14
Equity Securities without Readily Determinable Fair Value, Amount $ 170   $ 170   $ 153
v3.25.3
Notional Amounts (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Boe
Dec. 31, 2024
USD ($)
Boe
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount $ 500 $ 1,870
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount 353 14
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount 6,910 3,144
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount $ 22,776 $ 9,244
Commodity Contract Hydrocarbons | Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Nonmonetary Notional Amount | Boe 2,600,000 3,200,000
Commodity Contract Hydrocarbons | Not Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Nonmonetary Notional Amount | Boe 1,000,000.0 1,100,000
v3.25.3
Schedule of Fair Value of Derivative Instruments (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement $ 397 $ 218
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (296) (105)
Derivative Asset 101 113
Derivative Liability, Fair Value, Gross Liability 448 254
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (298) (105)
Derivative Liability 150 149
Derivative Liability, Collateral, Right to Reclaim Cash, Offset 11 16
Derivative Asset, Collateral, Obligation to Return Cash, Offset 0 0
Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 304 124
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (245) (85)
Derivative Asset 59 39
Derivative Liability, Fair Value, Gross Liability 343 214
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (246) (85)
Derivative Liability 97 129
Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 93 94
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (51) (20)
Derivative Asset 42 74
Derivative Liability, Fair Value, Gross Liability 105 40
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (52) (20)
Derivative Liability 53 20
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Current 0 26
Derivative Asset, Noncurrent (5) 0
Derivative Liability, Noncurrent 0 0
Derivative Asset, Current 1 0
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Current 0 1
Derivative Asset, Current 0 0
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Current 73 60
Derivative Asset, Noncurrent (1) 0
Derivative Liability, Noncurrent 7 40
Derivative Asset, Current 24 18
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Current 48 11
Derivative Asset, Current 30 58
Commodity Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Current 10 2
Derivative Asset, Noncurrent (9) (10)
Derivative Liability, Noncurrent 7 1
Derivative Asset, Current 19 11
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Current 4 7
Derivative Asset, Noncurrent (1) (1)
Derivative Liability, Noncurrent 1 1
Derivative Asset, Current 11 15
Other Current Assets [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 1 20
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset 0 (20)
Other Current Assets [Member] | Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 2 0
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (2) 0
Other Current Assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 82 33
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (58) (15)
Other Current Assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 68 74
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (38) (16)
Other Current Assets [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 124 25
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (105) (14)
Other Current Assets [Member] | Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 20 16
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (9) (1)
Deferred charges and other assets [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 16 0
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (11) 0
Deferred charges and other assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 7 0
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (6) 0
Deferred charges and other assets [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 74 46
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (65) (36)
Deferred charges and other assets [Member] | Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 3 4
Derivative Asset, Subject to Master Netting Arrangement, Gross Liability and Collateral, Obligation to Return Cash, Offset (2) (3)
Accrued and Other Current Liabilities [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 0 46
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset 0 (20)
Accrued and Other Current Liabilities [Member] | Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 2 1
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (2) 0
Accrued and Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 131 75
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (58) (15)
Accrued and Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 86 27
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (38) (16)
Accrued and Other Current Liabilities [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 116 16
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (106) (14)
Accrued and Other Current Liabilities [Member] | Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 14 8
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (10) (1)
Other Noncurrent Obligations [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 11 0
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (11) 0
Other Noncurrent Obligations [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 13 40
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (6) 0
Other Noncurrent Obligations [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 72 37
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset (65) (36)
Other Noncurrent Obligations [Member] | Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 3 4
Derivative Liability, Subject to Master Netting Arrangement, Gross Asset and Collateral, Right to Reclaim Cash, Offset $ (2) $ (3)
v3.25.3
Effect of Derivative Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax $ 11 $ 31 $ (7) $ 3
Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity (13) 8 42 (17)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 10 26 (31) (2)
Not Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 30 (74) (173) 15
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 0 0
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 0 0
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 2 0 4 1
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 2 0 2 1
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity (1) (2) (2) (11)
Interest Rate Contract [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 0 0
Interest Rate Contract [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity (7) 7 26 (16)
Excluded Components [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Cumulative Translation Adjustments [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 (2) 0 (8)
Excluded Components [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Cost of Sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net (2) (1) (5) (5)
Excluded Components [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net 3 0 6 0
Excluded Components [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member] | Cumulative Translation Adjustments [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 7 0
Excluded Components [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Cumulative Translation Adjustments [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 10 6 41 16
Excluded Components [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax 11 5 30 12
Excluded Components [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Cumulative Translation Adjustments [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 7 51 6 9
Excluded Components [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0 0 0 0
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 0 0
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 4 (95) (208) (35)
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (22) 16 8 (5)
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Cost of Sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity (5) 1 0 6
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity 0 0 0 0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 17 0 2 0
Foreign Exchange Contract [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity 0 0 0 0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 (45) (82) (37)
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 0 0
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Cost of Sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net (1) (2) (18) 0
Commodity Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (4) 0 (15) 22
Commodity Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Cost of Sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Gain (Loss) on Hedging Activity (12) (2) (13) (3)
Derivative        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 10 26 (31) (2)
Derivative, Gain (Loss) on Derivative, Net 17 (66) (131) (2)
Total Return Swap | Not Designated as Hedging Instrument [Member]        
Derivative Instruments, Gain (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0 0 0 0
Total Return Swap | Not Designated as Hedging Instrument [Member] | Cost of Sales        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net $ 26 $ 23 $ 50 $ 49
v3.25.3
Expected Reclassification (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Interest Rate Contract [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net $ (3)
Commodity Contract [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months 6
Foreign Exchange Contract [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months (14)
Excluded Components [Member] | Net Investment Hedging [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Hedge Gain (Loss) to be Reclassified During Next 12 Months, Excluded Components, Net $ 15
v3.25.3
FAIR VALUE MEASUREMENTS (Summary of Recurring Measured Fair Values) (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale $ 2,063  
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 397 $ 218
Debt Securities, Available-for-sale, Amortized Cost 2,221  
Equity Securities, FV-NI, Current 10 14
Long Term Debt, Accumulated Fair Value Adjustment 35 9
Derivative, Amount of Hedged Item 5,538 5,129
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity Securities, Amortized Cost Basis 4 4
Equity Securities, Accumulated Gross Unrealized Gain, Before Tax 6 10
Equity Securities, Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 1 [Member] | Commodity Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (3) (1)
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 5 4
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Amortized Cost 15 18
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0 (1)
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term Debt (18,122) (16,208)
Long Term Debt, Accumulated Gross Unrealized Gain, Before Tax 1,544 1,487
Long Term Debt, Accumulated Gross Unrealized Loss, Before Tax (409) (484)
Available-for-sale Debt Securities, Amortized Cost Basis, Current 558 453
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, Current, before Tax 0 0
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, Current, before Tax (61) (70)
Fair Value, Inputs, Level 2 [Member] | Held-to-maturity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash Equivalents, at Carrying Value 854 96
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax 0 0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 2 [Member] | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash Equivalents, at Carrying Value 960 1,164
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax 0 0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (13) (47)
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 19 20
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (230) (142)
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 157 107
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liabilities, Accumulated Gross Unrealized Gain, Before Tax 0 0
Derivative Liabilities, Accumulated Gross Unrealized Loss, Before Tax (202) (64)
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 216 87
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 0 0
Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Amortized Cost 1,120 1,103
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 8 13
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (82) (123)
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Amortized Cost 886 954
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 14 6
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (59) (88)
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Amortized Cost 200 200
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0 0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (39) (49)
Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets at fair value 4,781 3,908
Total liabilities at fair value (17,573) (15,614)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity Securities, FV-NI, Current 10 14
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 5 4
Derivative Liability, Gross Liability Including Not Subject to Master Netting Arrangement (3) (1)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 15 17
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale, Current 497 383
Long-term debt including debt due within one year 6 16,987 15,205
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Held-to-maturity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash Equivalents, Fair Value 854 96
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Held-to-maturity Securities | Cash and cash equivalents    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash Equivalents, Fair Value 813 96
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Held-to-maturity Securities | Other Current Assets [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash Equivalents, Fair Value 41 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash Equivalents, Fair Value 960 1,164
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 19 20
Derivative Liability, Gross Liability Including Not Subject to Master Netting Arrangement (13) (47)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 157 107
Derivative Liability, Gross Liability Including Not Subject to Master Netting Arrangement (230) (142)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Gross Asset Including Not Subject to Master Netting Arrangement 216 87
Derivative Liability, Gross Liability Including Not Subject to Master Netting Arrangement (202) (64)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 1,046 993
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 841 872
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Sadara Chemical Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Guarantees, Fair Value Disclosure (138) (155)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 161 151
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | Private Market Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets at fair value 109 90
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | Real Estate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets at fair value 13 15
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | Private Market Securities and Real Estate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments $ 72 $ 81
v3.25.3
FAIR VALUE MEASUREMENTS (Summary of Nonrecurring Measured Fair Values) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net $ 23     $ 24 $ 822 $ 69
2025 Program            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 23 $ 591 $ 207      
2025 Program | Industrial Intermediates & Infrastructure [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 6 89        
2025 Program | Packaging & Specialty Plastics [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 3 158        
2025 Program | Performance Materials & Coatings [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 3 147        
Asset write-downs and write-offs [Member] | 2023 Restructuring Program | Industrial Intermediates & Infrastructure [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net     5   5  
Asset write-downs and write-offs [Member] | 2025 Program            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 8 334 $ 0      
Asset write-downs and write-offs [Member] | 2025 Program | Industrial Intermediates & Infrastructure [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 1 63        
Asset write-downs and write-offs [Member] | 2025 Program | Packaging & Specialty Plastics [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 3 81        
Asset write-downs and write-offs [Member] | 2025 Program | Performance Materials & Coatings [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 3 147        
Asset write-downs and write-offs [Member] | 2025 Program | Corporate Segment [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Restructuring and asset related charges - net 1 $ 43        
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Leased, Non-manufacturing Facilities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Assets, Fair Value Disclosure $ 110       $ 110  
v3.25.3
Schedule of Consolidated VIEs, Carrying Amounts of Assets and Liabilities (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Variable Interest Entity [Line Items]      
Cash and cash equivalents and end of period $ 4,609 $ 2,189 $ 2,883
Other current assets 1,201 993  
Net property (variable interest entities restricted) 22,539 22,004  
Deferred charges and other assets 1,343 1,228  
Total Assets 60,990 57,312  
Accrued Liabilities, Current 2,755 2,521  
Long-Term Debt (variable interest entities nonrecourse) 17,709 15,711  
Other noncurrent obligations 7,383 6,637  
Variable Interest Entity, Primary Beneficiary [Member]      
Variable Interest Entity [Line Items]      
Net property (variable interest entities restricted) 2,357 122  
Long-Term Debt (variable interest entities nonrecourse) 172 0  
Variable Interest Entity, Diamond Solutions      
Variable Interest Entity [Line Items]      
Other current assets 161    
Net property (variable interest entities restricted) 2,244    
Deferred charges and other assets 216    
Total Assets 2,621    
Accrued Liabilities, Current 397    
Long-Term Debt (variable interest entities nonrecourse) 172    
Other noncurrent obligations 340    
Total Liabilities 909    
Variable Interest Entity, Other Primary Beneficiary      
Variable Interest Entity [Line Items]      
Cash and cash equivalents and end of period 23 22  
Other current assets 210 250  
Net property (variable interest entities restricted) 113 122  
Deferred charges and other assets 16 15  
Total Assets 362 409  
Accrued Liabilities, Current 16 24  
Other noncurrent obligations 13 13  
Total Liabilities 29 37  
Total Restricted Assets $ 187 $ 192  
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS Geographic Region Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]          
Net sales $ 9,973 $ 10,879 $ 30,508 $ 32,559  
Net property (variable interest entities restricted) 22,539   22,539   $ 22,004
UNITED STATES          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Net sales 3,651 3,883 11,322 11,621  
Net property (variable interest entities restricted) 14,914   14,914   15,216
Europe, Middle East, Africa and India [Domain]          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Net sales 3,090 3,568 9,636 10,624  
Net property (variable interest entities restricted) 2,776   2,776   2,726
Rest of World [Domain]          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Net sales 3,232 $ 3,428 9,550 $ 10,314  
Net property (variable interest entities restricted) $ 4,849   $ 4,849   $ 4,062
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Net sales $ 9,973 $ 10,879 $ 30,508 $ 32,559
Equity in earnings (losses) of nonconsolidated affiliates (72) 2 (122) 45
Operating EBIT 180 641 389 2,134
UNITED STATES        
Segment Reporting Information [Line Items]        
Net sales 3,651 3,883 11,322 11,621
Europe, Middle East, Africa and India [Domain]        
Segment Reporting Information [Line Items]        
Net sales 3,090 3,568 9,636 10,624
Rest of World [Domain]        
Segment Reporting Information [Line Items]        
Net sales 3,232 3,428 9,550 10,314
Segment Reporting, Reconciling Item, Corporate Nonsegment        
Segment Reporting Information [Line Items]        
Net sales 166 187 525 568
Operating EBIT (52) (64) (144) (160)
Operating Segment Total        
Segment Reporting Information [Line Items]        
Net sales 9,807 10,692 29,983 31,991
Operating Cost of Goods and Services Sold 9,039 9,449 27,845 28,050
SARD 502 563 1,504 1,688
Equity in earnings (losses) of nonconsolidated affiliates (73) 0 (123) 42
Segment Reporting, Other Segment Item, Amount 39 25 22 (1)
Operating EBIT 232 705 533 2,294
Packaging & Specialty Plastics [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 4,891 5,516 15,226 16,461
Operating Cost of Goods and Services Sold 4,474 4,675 13,967 13,888
SARD 222 260 683 768
Equity in earnings (losses) of nonconsolidated affiliates (6) 16 40 96
Segment Reporting, Other Segment Item, Amount 10 21 (4) 25
Operating EBIT 199 618 612 1,926
Industrial Intermediates & Infrastructure [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 2,834 2,962 8,475 8,921
Operating Cost of Goods and Services Sold 2,714 2,893 8,368 8,472
SARD 122 134 365 397
Equity in earnings (losses) of nonconsolidated affiliates (68) (17) (165) (63)
Segment Reporting, Other Segment Item, Amount 23 29 63 52
Operating EBIT (47) (53) (360) 41
Performance Materials & Coatings [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 2,082 2,214 6,282 6,609
Operating Cost of Goods and Services Sold 1,851 1,881 5,510 5,690
SARD 158 169 456 523
Equity in earnings (losses) of nonconsolidated affiliates 1 1 2 9
Segment Reporting, Other Segment Item, Amount 6 (25) (37) (78)
Operating EBIT $ 80 $ 140 $ 281 $ 327
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS EBIT Reconciliation (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Operating EBIT $ 180 $ 641 $ 389 $ 2,134
Interest Income, Other 47 36 114 143
Interest Expense, Debt 221 199 646 595
Other Nonrecurring (Income) Expense 64 (154) (820) (301)
Income before income taxes 70 324 (963) 1,381
Net sales 9,973 10,879 30,508 32,559
Equity in earnings (losses) of nonconsolidated affiliates (72) 2 (122) 45
Operating Segment Total        
Segment Reporting Information [Line Items]        
Operating EBIT 232 705 533 2,294
Other Nonrecurring (Income) Expense (12) (7) (304) (52)
Net sales 9,807 10,692 29,983 31,991
Operating Cost of Goods and Services Sold 9,039 9,449 27,845 28,050
SARD 502 563 1,504 1,688
Equity in earnings (losses) of nonconsolidated affiliates (73) 0 (123) 42
Segment Reporting, Other Segment Item, Amount 39 25 22 (1)
Packaging & Specialty Plastics [Member]        
Segment Reporting Information [Line Items]        
Other Nonrecurring (Income) Expense       (37)
Packaging & Specialty Plastics [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Operating EBIT 199 618 612 1,926
Other Nonrecurring (Income) Expense (3) 0 (161)  
Net sales 4,891 5,516 15,226 16,461
Operating Cost of Goods and Services Sold 4,474 4,675 13,967 13,888
SARD 222 260 683 768
Equity in earnings (losses) of nonconsolidated affiliates (6) 16 40 96
Segment Reporting, Other Segment Item, Amount 10 21 (4) 25
Industrial Intermediates & Infrastructure [Member]        
Segment Reporting Information [Line Items]        
Other Nonrecurring (Income) Expense       (8)
Industrial Intermediates & Infrastructure [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Operating EBIT (47) (53) (360) 41
Other Nonrecurring (Income) Expense (6) 0 7  
Net sales 2,834 2,962 8,475 8,921
Operating Cost of Goods and Services Sold 2,714 2,893 8,368 8,472
SARD 122 134 365 397
Equity in earnings (losses) of nonconsolidated affiliates (68) (17) (165) (63)
Segment Reporting, Other Segment Item, Amount 23 29 63 52
Performance Materials & Coatings [Member]        
Segment Reporting Information [Line Items]        
Other Nonrecurring (Income) Expense       (7)
Performance Materials & Coatings [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Operating EBIT 80 140 281 327
Other Nonrecurring (Income) Expense (3) (7) (150)  
Net sales 2,082 2,214 6,282 6,609
Operating Cost of Goods and Services Sold 1,851 1,881 5,510 5,690
SARD 158 169 456 523
Equity in earnings (losses) of nonconsolidated affiliates 1 1 2 9
Segment Reporting, Other Segment Item, Amount $ 6 $ (25) $ (37) $ (78)
v3.25.3
SEGMENT AND GEOGRAPHIC REGIONS Other Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Net sales $ 9,973 $ 10,879 $ 30,508 $ 32,559
Depreciation and amortization 688 741 2,126 2,143
Payments to Acquire Productive Assets 564 736 1,911 2,173
Operating EBIT 180 641 389 2,134
Segment Reporting, Reconciling Item, Corporate Nonsegment        
Segment Reporting Information [Line Items]        
Net sales 166 187 525 568
Depreciation and amortization 7 8 25 24
Payments to Acquire Productive Assets 0 0 0 0
Operating EBIT (52) (64) (144) (160)
Operating Segment Total        
Segment Reporting Information [Line Items]        
Net sales 9,807 10,692 29,983 31,991
Depreciation and amortization 681 733 2,101 2,119
Payments to Acquire Productive Assets 564 736 1,911 2,173
Operating EBIT 232 705 533 2,294
Packaging & Specialty Plastics [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 4,891 5,516 15,226 16,461
Depreciation and amortization 349 384 1,078 1,098
Payments to Acquire Productive Assets 433 490 1,458 1,434
Operating EBIT 199 618 612 1,926
Industrial Intermediates & Infrastructure [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 2,834 2,962 8,475 8,921
Depreciation and amortization 158 155 457 443
Payments to Acquire Productive Assets 72 165 303 497
Operating EBIT (47) (53) (360) 41
Performance Materials & Coatings [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 2,082 2,214 6,282 6,609
Depreciation and amortization 174 194 566 578
Payments to Acquire Productive Assets 59 81 150 242
Operating EBIT $ 80 $ 140 $ 281 $ 327
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS Segment Asset Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]    
Total Assets $ 60,990 $ 57,312
Investment in nonconsolidated affiliates 1,255 1,266
Segment Reporting, Reconciling Item, Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Total Assets 5,376 5,180
Investment in nonconsolidated affiliates 36 42
Operating Segment Total    
Segment Reporting Information [Line Items]    
Total Assets 55,614 52,132
Investment in nonconsolidated affiliates 1,219 1,224
Packaging & Specialty Plastics [Member] | Operating Segments    
Segment Reporting Information [Line Items]    
Total Assets 30,981 29,034
Investment in nonconsolidated affiliates 675 711
Industrial Intermediates & Infrastructure [Member] | Operating Segments    
Segment Reporting Information [Line Items]    
Total Assets 12,739 11,928
Investment in nonconsolidated affiliates 401 367
Performance Materials & Coatings [Member] | Operating Segments    
Segment Reporting Information [Line Items]    
Total Assets 11,894 11,170
Investment in nonconsolidated affiliates $ 143 $ 146
v3.25.3
SEGMENTS AND GEOGRAPHIC REGIONS Significant Items (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal $ 110   $ 213  
Gain (Loss) Related to Litigation Settlement     42  
Gain (Loss) on Extinguishment of Debt (18)   (78)  
Charges related to separation, distribution and tax matters agreements   $ (75) (115) $ (75)
Other Nonrecurring (Income) Expense 64 (154) (820) (301)
Segment Reporting, Reconciling Item, Corporate Nonsegment        
Segment Reporting Information [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 110   110  
Gain (Loss) Related to Litigation Settlement     42  
Gain (Loss) on Extinguishment of Debt (18)   (78)  
Charges related to separation, distribution and tax matters agreements     (115)  
Other Nonrecurring (Income) Expense 76 (147) (516)  
2023 Restructuring Program        
Segment Reporting Information [Line Items]        
Restructuring Charges   (79) (51) (226)
2023 Restructuring Program | Segment Reporting, Reconciling Item, Corporate Nonsegment        
Segment Reporting Information [Line Items]        
Restructuring Charges     (50)  
2025 Program        
Segment Reporting Information [Line Items]        
Restructuring Charges     (821)  
2025 Program | Restructuring Implementation Costs        
Segment Reporting Information [Line Items]        
Restructuring Charges (5)   (10)  
2025 Program | Severance and related benefit costs and asset write-downs and write-offs        
Segment Reporting Information [Line Items]        
Restructuring Charges (23)   (821)  
2025 Program | Segment Reporting, Reconciling Item, Corporate Nonsegment | Restructuring Implementation Costs        
Segment Reporting Information [Line Items]        
Restructuring Charges (5)   (10)  
2025 Program | Segment Reporting, Reconciling Item, Corporate Nonsegment | Severance and related benefit costs and asset write-downs and write-offs        
Segment Reporting Information [Line Items]        
Restructuring Charges (11)   (415)  
Operating Segment Total        
Segment Reporting Information [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 0   (103)  
Gain (Loss) Related to Litigation Settlement     0  
Gain (Loss) on Extinguishment of Debt 0   0  
Charges related to separation, distribution and tax matters agreements   0 0 0
Other Nonrecurring (Income) Expense (12) (7) (304) (52)
Operating Segment Total | 2023 Restructuring Program        
Segment Reporting Information [Line Items]        
Restructuring Charges   (7) (1) (52)
Operating Segment Total | 2025 Program | Restructuring Implementation Costs        
Segment Reporting Information [Line Items]        
Restructuring Charges 0   0  
Operating Segment Total | 2025 Program | Severance and related benefit costs and asset write-downs and write-offs        
Segment Reporting Information [Line Items]        
Restructuring Charges (12)   (406)  
Packaging & Specialty Plastics [Member]        
Segment Reporting Information [Line Items]        
Charges related to separation, distribution and tax matters agreements   0   0
Other Nonrecurring (Income) Expense       (37)
Packaging & Specialty Plastics [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 0   0  
Gain (Loss) Related to Litigation Settlement     0  
Gain (Loss) on Extinguishment of Debt 0   0  
Charges related to separation, distribution and tax matters agreements     0  
Other Nonrecurring (Income) Expense (3) 0 (161)  
Packaging & Specialty Plastics [Member] | 2023 Restructuring Program | Operating Segments        
Segment Reporting Information [Line Items]        
Restructuring Charges   0 0 (37)
Packaging & Specialty Plastics [Member] | 2025 Program | Operating Segments | Restructuring Implementation Costs        
Segment Reporting Information [Line Items]        
Restructuring Charges 0   0  
Packaging & Specialty Plastics [Member] | 2025 Program | Operating Segments | Severance and related benefit costs and asset write-downs and write-offs        
Segment Reporting Information [Line Items]        
Restructuring Charges (3)   (161)  
Industrial Intermediates & Infrastructure [Member]        
Segment Reporting Information [Line Items]        
Charges related to separation, distribution and tax matters agreements   0   0
Other Nonrecurring (Income) Expense       (8)
Industrial Intermediates & Infrastructure [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 0   (103)  
Gain (Loss) Related to Litigation Settlement     0  
Gain (Loss) on Extinguishment of Debt 0   0  
Charges related to separation, distribution and tax matters agreements     0  
Other Nonrecurring (Income) Expense (6) 0 7  
Industrial Intermediates & Infrastructure [Member] | 2023 Restructuring Program | Operating Segments        
Segment Reporting Information [Line Items]        
Restructuring Charges   0 (1) (8)
Industrial Intermediates & Infrastructure [Member] | 2025 Program | Operating Segments | Restructuring Implementation Costs        
Segment Reporting Information [Line Items]        
Restructuring Charges 0   0  
Industrial Intermediates & Infrastructure [Member] | 2025 Program | Operating Segments | Severance and related benefit costs and asset write-downs and write-offs        
Segment Reporting Information [Line Items]        
Restructuring Charges (6)   (95)  
Performance Materials & Coatings [Member]        
Segment Reporting Information [Line Items]        
Charges related to separation, distribution and tax matters agreements   0   0
Other Nonrecurring (Income) Expense       (7)
Performance Materials & Coatings [Member] | Operating Segments        
Segment Reporting Information [Line Items]        
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal 0   0  
Gain (Loss) Related to Litigation Settlement     0  
Gain (Loss) on Extinguishment of Debt 0   0  
Charges related to separation, distribution and tax matters agreements     0  
Other Nonrecurring (Income) Expense (3) (7) (150)  
Performance Materials & Coatings [Member] | 2023 Restructuring Program | Operating Segments        
Segment Reporting Information [Line Items]        
Restructuring Charges   (7) 0 (7)
Performance Materials & Coatings [Member] | 2025 Program | Operating Segments | Restructuring Implementation Costs        
Segment Reporting Information [Line Items]        
Restructuring Charges 0   0  
Performance Materials & Coatings [Member] | 2025 Program | Operating Segments | Severance and related benefit costs and asset write-downs and write-offs        
Segment Reporting Information [Line Items]        
Restructuring Charges $ (3)   $ (150)  
Corporate Segment [Member]        
Segment Reporting Information [Line Items]        
Charges related to separation, distribution and tax matters agreements   (75)   (75)
Other Nonrecurring (Income) Expense       (249)
Corporate Segment [Member] | 2023 Restructuring Program        
Segment Reporting Information [Line Items]        
Restructuring Charges   $ (72)   $ (174)