DOW INC., 10-Q filed on 4/26/2023
Quarterly Report
v3.23.1
Cover Page
 3 Months Ended
Mar. 31, 2023
$ / 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 Mar. 31, 2023
Document Fiscal Year Focus 2023
Document Fiscal Period Focus Q1
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 707,314,807
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 Mar. 31, 2023
Document Fiscal Year Focus 2023
Document Fiscal Period Focus Q1
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
v3.23.1
Dow Consolidated Statements of Income Statement - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Net sales $ 11,851 $ 15,264
Cost of sales 10,629 12,402
Research and development expenses 214 218
Selling, general and administrative expenses 428 498
Amortization of intangibles 81 88
Restructuring and asset related charges - net 541 186
Equity in earnings (losses) of nonconsolidated affiliates (48) 174
Sundry income (expense) - net 79 148
Interest income 76 28
Interest expense and amortization of debt discount 185 167
Income (loss) before income taxes (120) 2,055
Provision (credit) for income taxes (47) 503
Net income (loss) (73) 1,552
Net income (loss) attributable to noncontrolling interests 20 (17)
Net income (loss) available for The Dow Chemical Company common stockholder $ (93) $ 1,569
Earnings (loss) per common share - basic $ (0.13) $ 2.12
Earnings (loss) per common share - diluted $ (0.13) $ 2.11
Weighted-average common shares outstanding - basic 708.2 734.6
Weighted-average common shares outstanding - diluted 708.2 739.8
v3.23.1
Dow Consolidated Statements of Comprehensive Income Statement - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Statement of Comprehensive Income [Abstract]    
Net income (loss) $ (73) $ 1,552
Other comprehensive income (loss), net of tax    
Unrealized gains (losses) on investments 31 (96)
Cumulative translation adjustments 101 (164)
Pension and other postretirement benefit plans 6 109
Derivative instruments (64) 332
Total other comprehensive income 74 181
Comprehensive income (loss) 1 1,733
Comprehensive income (loss) attributable to noncontrolling interests, net of tax 20 (17)
Comprehensive income (loss) attributable to Dow Inc. $ (19) $ 1,750
v3.23.1
Dow Consolidated Balance Sheets Statement - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value $ 3,319 $ 3,886
Trade (net of allowance for doubtful receivables - 2023: $110; 2022: $110) 5,740 5,611
Other 2,072 2,144
Inventories 6,825 6,988
Other current assets 1,400 1,848
Total current assets 19,356 20,477
Investment in nonconsolidated affiliates 1,508 1,589
Other investments (investments carried at fair value - 2023: $1,806; 2022: $1,757) 2,815 2,793
Noncurrent receivables 627 666
Total investments 4,950 5,048
Property 58,679 58,055
Less: Accumulated depreciation 38,356 37,613
Net property 20,323 20,442
Goodwill 8,653 8,644
Other intangible assets (net of accumulated amortization - 2023: $5,114; 2022: $5,022) 2,336 2,442
Operating lease right-of-use assets 1,257 1,227
Deferred income tax assets 995 960
Deferred charges and other assets 1,446 1,363
Total other assets 14,687 14,636
Total Assets 59,316 60,603
Notes payable 278 362
Long-term debt due within one year 247 362
Accounts payable - Trade 4,575 4,940
Accounts payable - Other 1,985 2,276
Operating lease liabilities - current 304 287
Income taxes payable 335 334
Accrued Liabilities, Current 2,765 2,770
Total current liabilities 10,489 11,331
Long-Term Debt 14,739 14,698
Deferred income tax liabilities 744 1,110
Pension and other postretirement benefits - noncurrent 3,799 3,808
Asbestos-related liabilities - noncurrent 844 857
Operating lease liabilities - noncurrent 1,007 997
Other noncurrent obligations 6,979 6,555
Total other noncurrent liabilities 13,373 13,327
Common stock (authorized 5,000,000,000 shares of $0.01 par value each; issued 2023: 775,463,877 shares; 2022: 771,678,525 shares) 8 8
Additional Paid in Capital, Common Stock 8,607 8,540
Retained earnings 22,584 23,180
Accumulated other comprehensive loss (7,065) (7,139)
Treasury stock at cost (2023: 68,149,070 shares; 2022: 66,798,605 shares) (3,953) (3,871)
Dow Inc.’s stockholders’ equity 20,181 20,718
Noncontrolling interests 534 529
Total equity 20,715 21,247
Total Liabilities and Equity $ 59,316 $ 60,603
v3.23.1
Dow Consolidated Balance Sheets Parentheticals - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current $ 110 $ 110
Investments, Fair Value Disclosure 1,806 1,757
Finite-Lived Intangible Assets, Accumulated Amortization $ 5,114 $ 5,022
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 775,463,877 771,678,525
Treasury Stock, Common, Shares 68,149,070 66,798,605
v3.23.1
Dow Consolidated Statements of Cash Flows Statement - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Statement of Cash Flows [Abstract]    
Net income (loss) $ (73) $ 1,552
Depreciation and amortization 648 752
Provision (credit) for deferred income tax (418) 253
Earnings of nonconsolidated affiliates less than dividends received 102 374
Net periodic pension benefit cost (credit) (23) 7
Pension contributions (41) (55)
Net gain on sales of assets, businesses and investments (49) (6)
Restructuring and asset related charges - net 541 186
Other net loss 347 140
Accounts and notes receivable (68) (741)
Inventories 163 (443)
Accounts payable (631) 86
Other assets and liabilities, net 33 (493)
Cash provided by operating activities - continuing operations 531 1,612
Cash provided by (used for) operating activities - discontinued operations 4 (9)
Cash provided by operating activities 535 1,603
Capital expenditures (440) (315)
Investment in gas field developments (55) (37)
Purchases of previously leased assets (2) (2)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested 57 4
Acquisitions of property and businesses, net of cash acquired (23) 0
Investments in and loans to nonconsolidated affiliates 0 (6)
Distributions and loan repayments from nonconsolidated affiliates 1 0
Proceeds from sales of ownership interests in nonconsolidated affiliates 0 11
Purchases of investments (165) (148)
Proceeds from sales and maturities of investments 512 141
Other investing activities, net (35) (15)
Cash used for investing activities (150) (367)
Changes in short-term notes payable (91) (21)
Payments on short-term debt greater than three months 0 (14)
Proceeds from issuance of long-term debt 13 16
Payments on long-term debt (156) (25)
Collections on securitization programs 0 141
Purchases of treasury stock (125) (600)
Proceeds from issuance of stock 55 35
Employee taxes paid for share-based payment arrangements (41) (35)
Distributions to noncontrolling interests (13) (1)
Dividends paid to stockholders (496) (513)
Cash used for financing activities (854) (1,017)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (41) (45)
Increase (decrease) in cash, cash equivalents and restricted cash (510) 174
Cash, cash equivalents and restricted cash at beginning of period 3,940 3,033
Cash, cash equivalents and restricted cash at end of period 3,430 3,207
Less: Restricted cash and cash equivalents, included in "Other current assets" 111 64
Cash and cash equivalents and end of period $ 3,319 $ 3,143
v3.23.1
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]
Unearned ESOP Shares [Member]
Treasury Stock, Common
Total equity   $ 8 $ 8,151 $ 20,623 $ (8,977) $ (15) $ (1,625)
Stock Issued During Period, Value, Common Stock     35        
APIC, Share-based Payment Arrangement, Increase for Cost Recognition     35     15  
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans     (4)        
Net Income (Loss) Available to Common Stockholders, Basic $ 1,561     1,569      
Dividends, Common Stock       (513)      
Stockholders' Equity, Other       (7)      
Other Comprehensive Income (Loss), Net of Tax $ 181       181    
Treasury Stock, Value, Acquired, Cost Method             (600)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans             4
Common Stock, Dividends, Per Share, Declared $ 0.70            
Dow Inc.’s stockholders’ equity $ 18,880            
Noncontrolling interests 545            
Total equity 19,425 8 8,217 21,672 (8,796) 0 (2,221)
Dow Inc.’s stockholders’ equity 20,718            
Noncontrolling interests 529            
Total equity 21,247 8 8,540 23,180 (7,139) 0 (3,871)
Stock Issued During Period, Value, Common Stock     55        
APIC, Share-based Payment Arrangement, Increase for Cost Recognition     56     0  
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans     (44)        
Net Income (Loss) Available to Common Stockholders, Basic (96)     (93)      
Dividends, Common Stock       (496)      
Stockholders' Equity, Other       (7)      
Other Comprehensive Income (Loss), Net of Tax $ 74       74    
Treasury Stock, Value, Acquired, Cost Method             (126)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans             44
Common Stock, Dividends, Per Share, Declared $ 0.70            
Dow Inc.’s stockholders’ equity $ 20,181            
Noncontrolling interests 534            
Total equity $ 20,715 $ 8 $ 8,607 $ 22,584 $ (7,065) $ 0 $ (3,953)
v3.23.1
Consolidated Statements of Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net sales $ 11,851 $ 15,264
Cost of sales 10,629 12,402
Research and development expenses 214 218
Selling, general and administrative expenses 428 498
Amortization of intangibles 81 88
Restructuring and asset related charges - net 541 186
Equity in earnings (losses) of nonconsolidated affiliates (48) 174
Sundry income (expense) - net 79 148
Interest income 76 28
Interest expense and amortization of debt discount 185 167
Income (loss) before income taxes (120) 2,055
Provision (credit) for income taxes (47) 503
Net income (loss) (73) 1,552
Net income (loss) attributable to noncontrolling interests 20 (17)
Net income (loss) available for The Dow Chemical Company common stockholder (93) 1,569
The Dow Chemical Company    
Net sales 11,851 15,264
Cost of sales 10,628 12,398
Research and development expenses 214 218
Selling, general and administrative expenses 428 498
Amortization of intangibles 81 88
Restructuring and asset related charges - net 541 186
Equity in earnings (losses) of nonconsolidated affiliates (48) 174
Sundry income (expense) - net 69 136
Interest income 78 28
Interest expense and amortization of debt discount 185 167
Income (loss) before income taxes (127) 2,047
Provision (credit) for income taxes (47) 503
Net income (loss) (80) 1,544
Net income (loss) attributable to noncontrolling interests 20 (17)
Net income (loss) available for The Dow Chemical Company common stockholder $ (100) $ 1,561
v3.23.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net income (loss) $ (73) $ 1,552
Other comprehensive income (loss), net of tax    
Unrealized gains (losses) on investments 31 (96)
Cumulative translation adjustments 101 (164)
Pension and other postretirement benefit plans 6 109
Derivative instruments (64) 332
Other Comprehensive Income (Loss), Net of Tax 74 181
Comprehensive Income 1 1,733
Comprehensive income (loss) attributable to noncontrolling interests, net of tax 20 (17)
Comprehensive income (loss) attributable to The Dow Chemical Company (19) 1,750
The Dow Chemical Company    
Net income (loss) (80) 1,544
Other comprehensive income (loss), net of tax    
Unrealized gains (losses) on investments 31 (96)
Cumulative translation adjustments 101 (164)
Pension and other postretirement benefit plans 6 109
Derivative instruments (64) 332
Other Comprehensive Income (Loss), Net of Tax 74 181
Comprehensive Income (6) 1,725
Comprehensive income (loss) attributable to noncontrolling interests, net of tax 20 (17)
Comprehensive income (loss) attributable to The Dow Chemical Company $ (26) $ 1,742
v3.23.1
TDCC Consolidated Balance Sheets (Statement) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value $ 3,319 $ 3,886
Trade (net of allowance for doubtful receivables - 2023: $110; 2022: $110) 5,740 5,611
Other 2,072 2,144
Inventories 6,825 6,988
Other current assets 1,400 1,848
Total current assets 19,356 20,477
Investment in nonconsolidated affiliates 1,508 1,589
Other investments (investments carried at fair value - 2023: $1,806; 2022: $1,757) 2,815 2,793
Noncurrent receivables 627 666
Total investments 4,950 5,048
Property 58,679 58,055
Less: Accumulated depreciation 38,356 37,613
Net property 20,323 20,442
Goodwill 8,653 8,644
Other intangible assets (net of accumulated amortization - 2023: $5,114; 2022: $5,022) 2,336 2,442
Operating lease right-of-use assets 1,257 1,227
Deferred income tax assets 995 960
Deferred charges and other assets 1,446 1,363
Total other assets 14,687 14,636
Total Assets 59,316 60,603
Notes payable 278 362
Long-term debt due within one year 247 362
Accounts payable - Trade 4,575 4,940
Accounts payable - Other 1,985 2,276
Operating lease liabilities - current 304 287
Income taxes payable 335 334
Accrued Liabilities, Current 2,765 2,770
Total current liabilities 10,489 11,331
Long-Term Debt 14,739 14,698
Deferred income tax liabilities 744 1,110
Pension and other postretirement benefits - noncurrent 3,799 3,808
Asbestos-related liabilities - noncurrent 844 857
Operating lease liabilities - noncurrent 1,007 997
Other noncurrent obligations 6,979 6,555
Total other noncurrent liabilities 13,373 13,327
Common stock (authorized and issued 100 shares of $0.01 par value each) 8 8
Additional Paid in Capital, Common Stock 8,607 8,540
Retained earnings 22,584 23,180
Accumulated other comprehensive loss (7,065) (7,139)
Dow Inc.’s stockholders’ equity 20,181 20,718
Noncontrolling interests 534 529
Total equity 20,715 21,247
Total Liabilities and Equity 59,316 60,603
The Dow Chemical Company    
Cash and Cash Equivalents, at Carrying Value 3,319 3,886
Trade (net of allowance for doubtful receivables - 2023: $110; 2022: $110) 5,740 5,611
Other 2,069 2,211
Inventories 6,825 6,988
Other current assets 1,377 1,815
Total current assets 19,330 20,511
Investment in nonconsolidated affiliates 1,508 1,589
Other investments (investments carried at fair value - 2023: $1,806; 2022: $1,757) 2,815 2,793
Noncurrent receivables 607 650
Total investments 4,930 5,032
Property 58,679 58,055
Less: Accumulated depreciation 38,356 37,613
Net property 20,323 20,442
Goodwill 8,653 8,644
Other intangible assets (net of accumulated amortization - 2023: $5,114; 2022: $5,022) 2,336 2,442
Operating lease right-of-use assets 1,257 1,227
Deferred income tax assets 995 960
Deferred charges and other assets 1,446 1,363
Total other assets 14,687 14,636
Total Assets 59,270 60,621
Notes payable 278 362
Long-term debt due within one year 247 362
Accounts payable - Trade 4,575 4,940
Accounts payable - Other 1,985 2,349
Operating lease liabilities - current 304 287
Income taxes payable 335 334
Accrued Liabilities, Current 2,623 2,613
Total current liabilities 10,347 11,247
Long-Term Debt 14,739 14,698
Deferred income tax liabilities 744 1,110
Pension and other postretirement benefits - noncurrent 3,799 3,808
Asbestos-related liabilities - noncurrent 844 857
Operating lease liabilities - noncurrent 1,007 997
Other noncurrent obligations 6,837 6,415
Total other noncurrent liabilities 13,231 13,187
Common stock (authorized and issued 100 shares of $0.01 par value each) 0 0
Additional Paid in Capital, Common Stock 8,738 8,627
Retained earnings 18,746 19,472
Accumulated other comprehensive loss (7,065) (7,139)
Dow Inc.’s stockholders’ equity 20,419 20,960
Noncontrolling interests 534 529
Total equity 20,953 21,489
Total Liabilities and Equity $ 59,270 $ 60,621
v3.23.1
TDCC Consolidated Statements of Cash Flows Statement - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net income (loss) $ (73) $ 1,552
Depreciation and amortization 648 752
Provision (credit) for deferred income tax (418) 253
Earnings of nonconsolidated affiliates less than dividends received 102 374
Net periodic pension benefit cost (credit) (23) 7
Pension contributions (41) (55)
Net gain on sales of assets, businesses and investments (49) (6)
Restructuring and asset related charges - net 541 186
Other net loss 347 140
Accounts and notes receivable (68) (741)
Inventories 163 (443)
Accounts payable (631) 86
Other assets and liabilities, net 33 (493)
Cash provided by operating activities 535 1,603
Capital expenditures (440) (315)
Investment in gas field developments (55) (37)
Purchases of previously leased assets (2) (2)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested 57 4
Acquisitions of property and businesses, net of cash acquired (23) 0
Investments in and loans to nonconsolidated affiliates 0 (6)
Distributions and loan repayments from nonconsolidated affiliates 1 0
Proceeds from sales of ownership interests in nonconsolidated affiliates 0 11
Purchases of investments (165) (148)
Proceeds from sales and maturities of investments 512 141
Other investing activities, net (35) (15)
Cash used for investing activities (150) (367)
Changes in short-term notes payable (91) (21)
Payments on short-term debt greater than three months 0 (14)
Proceeds from issuance of long-term debt 13 16
Payments on long-term debt (156) (25)
Collections on securitization programs 0 141
Proceeds from issuance of stock 55 35
Employee taxes paid for share-based payment arrangements (41) (35)
Distributions to noncontrolling interests (13) (1)
Dividends paid to stockholders (496) (513)
Cash used for financing activities (854) (1,017)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (41) (45)
Increase (decrease) in cash, cash equivalents and restricted cash (510) 174
Cash, cash equivalents and restricted cash at beginning of period 3,940 3,033
Cash, cash equivalents and restricted cash at end of period 3,430 3,207
Less: Restricted cash and cash equivalents, included in "Other current assets" 111 64
Cash and cash equivalents and end of period 3,319 3,143
The Dow Chemical Company    
Net income (loss) (80) 1,544
Depreciation and amortization 648 752
Provision (credit) for deferred income tax (418) 253
Earnings of nonconsolidated affiliates less than dividends received 102 374
Net periodic pension benefit cost (credit) (23) 7
Pension contributions (41) (55)
Net gain on sales of assets, businesses and investments (49) (6)
Restructuring and asset related charges - net 541 186
Other net loss 348 140
Accounts and notes receivable (68) (741)
Inventories 163 (443)
Accounts payable (631) 86
Other assets and liabilities, net 42 (486)
Cash provided by operating activities 534 1,611
Capital expenditures (440) (315)
Investment in gas field developments (55) (37)
Purchases of previously leased assets (2) (2)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested 57 4
Acquisitions of property and businesses, net of cash acquired (23) 0
Investments in and loans to nonconsolidated affiliates 0 (6)
Distributions and loan repayments from nonconsolidated affiliates 1 0
Proceeds from sales of ownership interests in nonconsolidated affiliates 0 11
Purchases of investments (165) (148)
Proceeds from sales and maturities of investments 512 141
Other investing activities, net (35) (15)
Cash used for investing activities (150) (367)
Changes in short-term notes payable (91) (21)
Payments on short-term debt greater than three months 0 (14)
Proceeds from issuance of long-term debt 13 16
Payments on long-term debt (156) (25)
Collections on securitization programs 0 141
Proceeds from issuance of stock 55 35
Employee taxes paid for share-based payment arrangements (41) (35)
Distributions to noncontrolling interests (13) (1)
Dividends paid to stockholders (620) (1,121)
Cash used for financing activities (853) (1,025)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (41) (45)
Increase (decrease) in cash, cash equivalents and restricted cash (510) 174
Cash, cash equivalents and restricted cash at beginning of period 3,940 3,033
Cash, cash equivalents and restricted cash at end of period 3,430 3,207
Less: Restricted cash and cash equivalents, included in "Other current assets" 111 64
Cash and cash equivalents and end of period $ 3,319 $ 3,143
v3.23.1
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Loss
Unearned ESOP Shares [Member]
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
Unearned ESOP Shares [Member]
The Dow Chemical Company
Noncontrolling Interests
Total Equity, Beginning at Dec. 31, 2021   $ 8 $ 8,151 $ 20,623 $ (8,977) $ (15)     $ 0 $ 8,159 $ 19,288 $ (8,977) $ (15)  
Stock Issued                   35        
Stock-based compensation and allocation of ESOP shares     35     15       35     15  
Net income available for The Dow Chemical Company common stockholder $ 1,561     1,569             1,561      
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees             $ (1,121)              
Other       7             (7)      
Other comprehensive income 181       181     $ 181       181    
Total Equity, Ending at Mar. 31, 2022 19,425 8 8,217 21,672 (8,796) 0   19,699 0 8,229 19,721 (8,796) 0 $ 545
The Dow Chemical Company’s stockholders’ equity 18,880             19,154            
The Dow Chemical Company’s stockholders’ equity 20,718             20,960            
Total Equity, Beginning at Dec. 31, 2022 21,247 8 8,540 23,180 (7,139) 0   21,489 0 8,627 19,472 (7,139) 0  
Stock Issued                   55        
Stock-based compensation and allocation of ESOP shares     56     0       56     0  
Net income available for The Dow Chemical Company common stockholder (96)     (93)             (100)      
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees             $ (620)              
Other       7             (6)      
Other comprehensive income 74       74     74       74    
Total Equity, Ending at Mar. 31, 2023 20,715 $ 8 $ 8,607 $ 22,584 $ (7,065) $ 0   20,953 $ 0 $ 8,738 $ 18,746 $ (7,065) $ 0 $ 534
The Dow Chemical Company’s stockholders’ equity $ 20,181             $ 20,419            
v3.23.1
Dow Consolidated Statements of Income - Supplemental Info - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Supplemental Income Statement Elements [Abstract]    
Depreciation $ 475 $ 491
Capital expenditures $ 440 $ 315
v3.23.1
TDCC Consolidated Statements of Income - Supplemental Info - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Depreciation $ 475 $ 491
Capital expenditures 440 315
The Dow Chemical Company    
Depreciation 475 491
Capital expenditures $ 440 $ 315
v3.23.1
TDCC Consolidated Balance Sheets Parentheticals - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current $ 110 $ 110
Investments, Fair Value Disclosure 1,806 1,757
Finite-Lived Intangible Assets, Accumulated Amortization $ 5,114 $ 5,022
Common Stock, Shares, Issued 775,463,877 771,678,525
Common Stock, Shares Authorized 5,000,000,000 5,000,000,000
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
The Dow Chemical Company    
Accounts Receivable, Allowance for Credit Loss, Current $ 110 $ 110
Finite-Lived Intangible Assets, Accumulated Amortization $ 5,114 $ 5,022
Common Stock, Shares, Issued 100 100
Common Stock, Shares Authorized 100 100
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
v3.23.1
CONSOLIDATED FINANCIAL STATEMENTS (Notes)
 3 Months Ended
Mar. 31, 2023
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 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, 2022 ("2022 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 and the term "Dow Silicones" means Dow Silicones Corporation, both wholly owned subsidiaries of the Company.
v3.23.1
RECENT ACCOUNTING GUIDANCE (Notes)
 3 Months Ended
Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]  
RECENT ACCOUNTING GUIDANCE RECENT ACCOUNTING GUIDANCE
Recently Adopted Accounting Guidance
In the first quarter of 2023, the Company adopted the interim period disclosure requirements of Accounting Standards Update ("ASU") 2022-04, "Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations." The ASU, issued in September 2022, requires disclosures intended to enhance the transparency of supplier finance programs. Specifically, the amendments require buyers in a supplier finance program to disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for disclosure of rollforward information, which is required to be disclosed annually and is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The amendments should be applied retrospectively to each period in which a balance sheet is presented, except for disclosure of rollforward information, which should be applied prospectively. The Company expects to early adopt the annual requirement to disclose rollforward information prospectively beginning in the 2023 annual financial statements. See Note 5 for disclosures related to the Company's supplier finance program.

Accounting Guidance Issued But Not Adopted at March 31, 2023
In March 2023, the Financial Accounting Standards Board issued ASU 2023-02, "Investments — Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." The amendments permit reporting entities to elect to account for their tax equity investments using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received and recognizes the net amortization and income tax credits and other income tax benefits in the income statement as a component of income tax expense (benefit). The amendments also require certain disclosures in annual and interim reporting periods about an entity's tax credit programs. The new standard is effective for public companies for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and the amendments must be applied on either a modified retrospective or a retrospective basis. Early adoption is permitted. The Company is currently evaluating early adoption of the new guidance in 2023 and the adoption is not expected to have a material impact on the consolidated financial statements.
v3.23.1
REVENUE (Notes)
 3 Months Ended
Mar. 31, 2023
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 99 percent for the three months ended March 31, 2023 and March 31, 2022. 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 March 31, 2023, the Company had unfulfilled performance obligations of $963 million ($840 million at December 31, 2022) related to the licensing of technology. The Company expects revenue to be recognized for the remaining performance obligations over the next seven years.

The remaining performance obligations are 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, or 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 17 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 Ended
In millionsMar 31, 2023Mar 31, 2022
Hydrocarbons & Energy$1,874 $2,416 
Packaging and Specialty Plastics4,240 5,211 
Packaging & Specialty Plastics$6,114 $7,627 
Industrial Solutions $1,139 $1,515 
Polyurethanes & Construction Chemicals2,234 3,005 
Other5 4 
Industrial Intermediates & Infrastructure$3,378 $4,524 
Coatings & Performance Monomers$858 $1,075 
Consumer Solutions1,418 1,974 
Performance Materials & Coatings$2,276 $3,049 
Corporate$83 $64 
Total$11,851 $15,264 

Net Trade Sales by Geographic RegionThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
U.S. & Canada$4,450 $5,537 
EMEAI 1
4,053 5,512 
Asia Pacific2,047 2,753 
Latin America1,301 1,462 
Total$11,851 $15,264 
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 three months of 2023 from amounts included in contract liabilities at the beginning of the period was approximately $40 million (approximately $65 million in the first three months of 2022). In the first three months of 2023, the amount of contract assets reclassified to receivables as a result of the right to the transaction consideration becoming unconditional was approximately $30 million (insignificant in the first three months of 2022).
The following table summarizes contract assets and liabilities at March 31, 2023 and December 31, 2022:

Contract Assets and LiabilitiesBalance Sheet ClassificationMar 31, 2023Dec 31, 2022
In millions
Accounts and notes receivable - tradeAccounts and notes receivable - trade$5,740 $5,611 
Contract assets - currentOther current assets$21 $48 
Contract assets - noncurrentDeferred charges and other assets$16 $16 
Contract liabilities - currentAccrued and other current liabilities$293 $275 
Contract liabilities - noncurrentOther noncurrent obligations$1,740 $1,725 
v3.23.1
RESTRUCTURING AND ASSET RELATED CHARGES - NET (Notes)
 3 Months Ended
Mar. 31, 2023
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 includes asset impairments, are recorded in "Restructuring and asset related charges - net" in the consolidated statements of income. For additional information on the Company's restructuring programs, see Note 5 to the Consolidated Financial Statements included in the 2022 10-K.

2023 Restructuring Program
On January 25, 2023, the Dow Inc. Board of Directors ("Board") approved restructuring actions to achieve the Company's structural cost improvement initiatives in response to the continued economic impact from the global recessionary environment and to enhance its agility and long-term competitiveness across the economic cycle. As a result of these actions the Company recorded pretax restructuring charges of $541 million in the first quarter of 2023. These actions are expected to be substantially complete by the end of 2024. The following table summarizes the activities related to the 2023 Restructuring Program, including segment information:

2023 Restructuring ProgramSeverance and Related Benefit CostsAsset Write-downs and Write-offsTotal
In millions
Packaging & Specialty Plastics$— $1 $1 
Industrial Intermediates & Infrastructure— 40 40 
Performance Materials & Coatings— 49 49 
Corporate344 107 451 
Total restructuring charges$344 $197 $541 
Charges against the reserve— (197)(197)
Cash payments(11)— (11)
Reserve balance at Mar 31, 2023$333 $— $333 

At March 31, 2023, $256 million of the reserve balance was included in "Accrued and other current liabilities" and $77 million was included in "Other noncurrent obligations" in the consolidated balance sheets.

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 2023 Restructuring Program included a charge for severance and related benefit costs of $344 million for a global workforce reduction of approximately 2,000 employees. A majority of separations are intended to occur by the end of the second quarter of 2023 with the remaining occurring primarily through the end of 2024.
Asset Write-downs and Write-offs
The restructuring charge related to the write-down and write-off of assets in the first quarter of 2023 totaled $197 million. Details regarding the asset write-downs and write-offs are as follows:

•Industrial Intermediates & Infrastructure charges relate to the shutdown of certain polyurethanes assets and the write-off of other assets. The majority of the impacted facilities are expected to be shutdown by the end of 2024.
•Performance Materials & Coatings recorded charges to rationalize its asset footprint by shutting down certain coatings assets. These facilities are expected to be shutdown by the end of 2024.
•Corporate recorded charges related to the write-down of Company owned and leased, non-manufacturing facilities, primarily related to office space rationalization.

Restructuring implementation costs, primarily decommissioning and demolition activities related to asset actions, and costs associated with the Company's efficiency actions, are expected to result in additional cash expenditures of approximately $425 million, primarily through the end of 2024.

2022 Asset Related Charges
In the first quarter of 2022, the Company recorded pretax asset related charges of $186 million due to the Russia and Ukraine conflict and the expectation that certain assets will not be recoverable. These charges included the write-down of inventory, the recording of bad debt reserves and the impairment of other assets. Asset related charges by segment were as follows: $31 million in Packaging & Specialty Plastics, $109 million in Industrial Intermediates & Infrastructure, $16 million in Performance Materials & Coatings and $30 million in Corporate.
v3.23.1
SUPPLEMENTARY INFORMATION (Notes)
 3 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplementary Information Disclosure [Text Block] SUPPLEMENTARY INFORMATION
Dow Inc. Sundry Income (Expense) – NetThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Non-operating pension and other postretirement benefit plan net credits 1
$96 $89 
Foreign exchange gains (losses) 2
(102)2 
Gain on sales of other assets and investments 3
65 31 
Asset impairments and related costs 4
(18)— 
Indemnification and other transaction related costs 5
9 12 
Other - net29 14 
Total sundry income (expense) – net$79 $148 
1.See Note 12 for additional information.
2.Foreign exchange losses for the three months ended March 31, 2023 relate primarily to exposures in the Argentinian peso.
3.Includes gains associated with the sale of shares of a previously impaired equity method investment.
4.Certain obligations associated with a previously impaired equity method investment.
5.Primarily related to charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution.

Sundry income (expense) - net for TDCC for the three months ended March 31, 2023 and 2022 is substantially the same as that of Dow Inc. and therefore is not disclosed separately.

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 March 31, 2023, outstanding obligations confirmed as valid under the SCF program were $290 million ($267 million at December 31, 2022), included in “Accounts payable – Trade” in the consolidated balance sheets.
v3.23.1
EARNINGS PER SHARE (Notes)
 3 Months Ended
Mar. 31, 2023
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 months ended March 31, 2023 and 2022. 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 Ended
In millionsMar 31, 2023Mar 31, 2022
Net income (loss)$(73)$1,552 
Net income (loss) attributable to noncontrolling interests20 (17)
Net income attributable to participating securities 1
3 8 
Net income (loss) attributable to common stockholders$(96)$1,561 

Earnings (Loss) Per Share - Basic and DilutedThree Months Ended
Dollars per shareMar 31, 2023Mar 31, 2022
Earnings (loss) per common share - basic$(0.13)$2.12 
Earnings (loss) per common share - diluted$(0.13)$2.11 

Share Count InformationThree Months Ended
Shares in millionsMar 31, 2023Mar 31, 2022
Weighted-average common shares outstanding - basic708.2 734.6 
Plus dilutive effect of equity compensation plans 2
— 5.2 
Weighted-average common shares outstanding - diluted708.2 739.8 
Stock options and restricted stock units excluded from EPS calculations 3
22.1 6.8 
1.Restricted stock units are considered participating securities due to the Company's practice of paying dividend equivalents on unvested shares.
2.The three months ended March 31, 2023 reflect a net loss, and as such, the basic share count was used for purposes of calculating earnings per share on a diluted basis.
3.These outstanding options to purchase shares of common stock and restricted stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.
v3.23.1
INVENTORIES (Notes)
 3 Months Ended
Mar. 31, 2023
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
The following table provides a breakdown of inventories:

InventoriesMar 31, 2023Dec 31, 2022
In millions
Finished goods$3,974 $4,150 
Work in process1,458 1,476 
Raw materials867 954 
Supplies911 892 
Total$7,210 $7,472 
Adjustment of inventories to the LIFO basis(385)(484)
Total inventories$6,825 $6,988 
v3.23.1
COMMITMENTS AND CONTINGENCIES (Notes)
 3 Months Ended
Mar. 31, 2023
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 2022 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 March 31, 2023, the Company had accrued obligations of $1,233 million for probable environmental remediation and restoration costs ($1,192 million at December 31, 2022), including $254 million for the remediation of Superfund sites ($244 million at December 31, 2022). 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 2023 activity, it was determined that no adjustment to the accrual was required at March 31, 2023.

Union Carbide’s total asbestos-related liability for pending and future claims and defense and processing costs was $929 million at March 31, 2023 ($947 million at December 31, 2022). At March 31, 2023, approximately 25 percent of the recorded claim liability related to pending claims and approximately 75 percent related to future claims.

Groundwater Contamination
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 ("Legacy Liabilities"). The costs associated with these Legacy Liabilities were previously covered by insurance policies that have since been depleted. In the first quarter of 2023, the Company completed a study of the Legacy Liabilities now 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. As a result, the Company recorded a pretax charge of $177 million, included in "Cost of sales" in the consolidated statements of income and related to Industrial Intermediates & Infrastructure. At March 31, 2023, the total liability related to such alleged Legacy Liabilities settlements was $237 million, which was included in “Accrued and other current liabilities” and "Other noncurrent obligations" in the consolidated balance sheets.

Indemnifications with Corning Incorporated
The Company had indemnification assets with Corning Incorporated of $99 million at March 31, 2023 ($98 million at December 31, 2022) related to the 2016 ownership restructure of Dow Silicones, which were included in "Noncurrent receivables" in the consolidated balance sheets.
Gain Contingency - Dow v. Nova Chemicals Corporation Ethylene Asset Matter
As a result of a 2019 damages judgment related to the ethylene asset matter, Nova was ordered to pay the Company $1.43 billion Canadian dollars (equivalent to approximately $1.08 billion U.S. dollars), for which the Company received payment in October 2019 and March 2020. At March 31, 2023, $323 million ($323 million at December 31, 2022) was included in "Other noncurrent obligations" in the Company's consolidated balance sheets related to the disputed portion of the damages judgment.
v3.23.1
LEASES (Notes)
 3 Months Ended
Mar. 31, 2023
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 2022 10-K.

The components of lease cost for operating and finance leases for the three months ended March 31, 2023 and 2022 were as follows:

Lease CostThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Operating lease cost$98 $97 
Finance lease cost
Amortization of right-of-use assets - finance$26 $26 
Interest on lease liabilities - finance8 8 
Total finance lease cost$34 $34 
Short-term lease cost66 59 
Variable lease cost181 115 
Sublease income(2)(3)
Total lease cost$377 $302 

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

Other Lease InformationThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$105 $101 
Operating cash flows for finance leases$8 $8 
Financing cash flows for finance leases$28 $22 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$99 $16 
Finance leases$6 $17 
v3.23.1
Accumulated Other Comprehensive Loss (Notes)
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
The changes in each component of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2023 and 2022 were as follows:

Accumulated Other Comprehensive LossThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Unrealized Gains (Losses) on Investments
Beginning balance$(253)$59 
Unrealized gains (losses) on investments30 (121)
Tax (expense) benefit— 24 
Net unrealized gains (losses) on investments30 (97)
(Gains) losses reclassified from AOCL to net income (loss) 1
1 1 
Tax expense (benefit) 2
— — 
Net (gains) losses reclassified from AOCL to net income (loss)1 1 
Other comprehensive income (loss), net of tax31 (96)
Ending balance$(222)$(37)
Cumulative Translation Adjustment
Beginning balance$(1,934)$(1,355)
Gains (losses) on foreign currency translation84 (165)
Tax (expense) benefit2 13 
Net gains (losses) on foreign currency translation86 (152)
(Gains) losses reclassified from AOCL to net income (loss) 3
15 (12)
Other comprehensive income (loss), net of tax101 (164)
Ending balance$(1,833)$(1,519)
Pension and Other Postretirement Benefits
Beginning balance$(4,877)$(7,334)
Gains (losses) arising during the period2 2 
Amortization of net loss and prior service credits reclassified from AOCL to net income (loss) 4
3 157 
Tax expense (benefit) 2
1 (50)
Net loss and prior service credits reclassified from AOCL to net income (loss)4 107 
Other comprehensive income (loss), net of tax6 109 
Ending balance$(4,871)$(7,225)
Derivative Instruments
Beginning balance$(75)$(347)
Gains (losses) on derivative instruments(183)420 
Tax (expense) benefit33 (56)
Net gains (losses) on derivative instruments(150)364 
(Gains) losses reclassified from AOCL to net income (loss) 5
109 (34)
Tax expense (benefit) 2
(23)2 
Net (gains) losses reclassified from AOCL to net income (loss)86 (32)
Other comprehensive income (loss), net of tax(64)332 
Ending balance$(139)$(15)
Total AOCL ending balance$(7,065)$(8,796)
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 12 for additional information.
5.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."
v3.23.1
NONCONTROLLING INTERESTS Noncontrolling Interests
 3 Months Ended
Mar. 31, 2023
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.

The following table summarizes the activity for equity attributable to noncontrolling interests for the three months ended March 31, 2023 and 2022:

Noncontrolling InterestsThree Months Ended

In millions
Mar 31, 2023Mar 31, 2022
Balance at beginning of period$529 $574 
Net income (loss) attributable to noncontrolling interests 1
20 (17)
Distributions to noncontrolling interests(13)(1)
Cumulative translation adjustments(3)(11)
Other1 — 
Balance at end of period$534 $545 
1.The first quarter of 2022 includes the portion of asset related charges attributable to noncontrolling interests related to a joint venture in Russia. See Note 4 for additional information.
v3.23.1
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS
 3 Months Ended
Mar. 31, 2023
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 2022 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 Ended
In millionsMar 31, 2023Mar 31, 2022
Defined Benefit Pension Plans
Service cost$70 $99 
Interest cost 279 171 
Expected return on plan assets (389)(424)
Amortization of prior service credit(7)(6)
Amortization of net loss24 167 
Net periodic benefit cost (credit)$(23)$7 
Other Postretirement Benefit Plans
Service cost $1 $1 
Interest cost 11 7 
Amortization of net gain(14)(4)
Net periodic benefit cost (credit)$(2)$4 

Net periodic benefit cost (credit), other than the service cost component, is included in "Sundry income (expense) - net" in the consolidated statements of income.
v3.23.1
STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2023
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 2022 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 2023, Dow Inc. granted the following stock-based compensation awards to employees:
•1.1 million stock options with a weighted-average exercise price of $59.08 per share and a weighted-average fair value of $12.13 per share;
•1.8 million restricted stock units with a weighted-average fair value of $59.03 per share; and
•1.2 million performance stock units with a weighted-average fair value of $64.04 per share.

Employee Stock Purchase Plan
The Dow Inc. 2021 Employee Stock Purchase Plan (the "2021 ESPP") was adopted by the Dow Inc. Board on February 11, 2021, and approved by stockholders at the Company's annual meeting on April 15, 2021. Under the 2023 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 May 1, 2023 (beginning) or November 3, 2023 (ending) of the offering period, whichever is lower.
v3.23.1
Financial Instruments (Notes)
 3 Months Ended
Mar. 31, 2023
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 2022 10-K.

The following table summarizes the fair value of financial instruments at March 31, 2023 and December 31, 2022:

Fair Value of Financial InstrumentsMar 31, 2023Dec 31, 2022
In millionsCostGainLossFair ValueCostGainLossFair Value
Cash equivalents:
Held-to-maturity securities 1
$714 $— $— $714 $872 $— $— $872 
Money market funds1,273 — — 1,273 355 — — 355 
Total cash equivalents$1,987 $— $— $1,987 $1,227 $— $— $1,227 
Marketable securities 2
$610 $9 $— $619 $927 $12 $— $939 
Other investments:
Debt securities:
Government debt 3
$762 $1 $(122)$641 $754 $1 $(133)$622 
Corporate bonds1,272 9 (134)1,147 1,274 10 (159)1,125 
Total debt securities$2,034 $10 $(256)$1,788 $2,028 $11 $(292)$1,747 
Equity securities 4
5 13 — 18 5 5 — 10 
Total other investments$2,039 $23 $(256)$1,806 $2,033 $16 $(292)$1,757 
Total cash equivalents, marketable securities and other investments$4,636 $32 $(256)$4,412 $4,187 $28 $(292)$3,923 
Long-term debt including debt due within one year 5
$(14,986)$1,389 $(642)$(14,239)$(15,060)$1,683 $(498)$(13,875)
Derivatives relating to:
Interest rates 6
$— $2 $— $2 $— $105 $— $105 
Foreign currency— 66 (17)49 — 115 (30)85 
Commodities 6
— 24 (30)(6)— 72 (61)11 
Total derivatives$— $92 $(47)$45 $— $292 $(91)$201 
1.The Company's held-to-maturity securities primarily included treasury bills and time deposits.
2.The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets.
3.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
4.Equity securities with a readily determinable fair value.
5.Cost includes fair value hedge adjustment gains of $49 million at March 31, 2023 and $46 million at December 31, 2022 on $2,729 million of debt at March 31, 2023 and $2,279 million of debt at December 31, 2022.
6.Presented net of cash collateral where master netting arrangements allow.

Cost approximates fair value for all other financial instruments.

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 three months ended March 31, 2023 and 2022:

Investing ResultsThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Proceeds from sales of available-for-sale securities$146 $113 
Gross realized gains$8 $12 
Gross realized losses $(9)$(13)
The following table summarizes contractual maturities of the Company's investments in debt securities:

Contractual Maturities of Debt Securities at Mar 31, 2023
 CostFair Value
In millions
Within one year$78 $76 
One to five years894 814 
Six to ten years550 479 
After ten years512 419 
Total$2,034 $1,788 

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 months ended March 31, 2023. There was $8 million of net unrealized gains recognized in earnings on equity securities for the three months ended March 31, 2023 ($3 million net unrealized loss for the three months ended March 31, 2022).

Investments in Equity SecuritiesMar 31, 2023Dec 31, 2022
In millions
Readily determinable fair value$18 $10 
Not readily determinable fair value$178 $186 

Derivative Instruments
The notional amounts of the Company's derivative instruments at March 31, 2023 and December 31, 2022 were as follows:

Notional Amounts 1
Mar 31, 2023Dec 31, 2022
In millions
Derivatives designated as hedging instruments:
Interest rate contracts$450 $1,500 
Foreign currency contracts$2,141 $2,408 
Derivatives not designated as hedging instruments:
Interest rate contracts$46 $3 
Foreign currency contracts$12,150 $8,837 
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 March 31, 2023 and December 31, 2022 were as follows:

Commodity Notionals 1
Mar 31, 2023Dec 31, 2022Notional Volume Unit
Derivatives designated as hedging instruments:
Hydrocarbon derivatives8.5 19.2 million barrels of oil equivalent
Derivatives not designated as hedging instruments:
Hydrocarbon derivatives1.0 — million barrels of oil equivalent
Power derivatives21.3 — thousands of megawatt hours
1.Notional amounts represent the net volume of open derivative positions outstanding at the end of the period.

Maturity Dates of Derivatives Designated as Hedging InstrumentsYear
Interest rate contracts2024
Foreign currency contracts2024
Commodity contracts2026
The following tables provide the fair value and balance sheet classification of derivative instruments at March 31, 2023 and December 31, 2022:

Fair Value of Derivative InstrumentsMar 31, 2023
In millionsBalance Sheet ClassificationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Consolidated Balance Sheets
Asset derivatives
Derivatives designated as hedging instruments:
Interest rate contractsDeferred charges and other assets$37 $(35)$2 
Foreign currency contractsOther current assets32 (32)— 
Commodity contractsOther current assets87 (65)22 
Total $156 $(132)$24 
Derivatives not designated as hedging instruments:
Interest rate contractsOther current assets$2 $(2)$— 
Foreign currency contracts Other current assets90 (24)66 
Commodity contractsOther current assets2 — 2 
Total $94 $(26)$68 
Total asset derivatives  $250 $(158)$92 
Liability derivatives
Derivatives designated as hedging instruments:
Interest rate contractsOther noncurrent obligations$35 $(35)$— 
Foreign currency contractsAccrued and other current liabilities41 (32)9 
Commodity contractsAccrued and other current liabilities147 (119)28 
Total $223 $(186)$37 
Derivatives not designated as hedging instruments:
Interest rate contractsAccrued and other current liabilities$2 $(2)$— 
Foreign currency contractsAccrued and other current liabilities32 (24)8 
Commodity contractsAccrued and other current liabilities2 — 2 
Total $36 $(26)$10 
Total liability derivatives  $259 $(212)$47 
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.
Fair Value of Derivative InstrumentsDec 31, 2022
In millionsBalance Sheet ClassificationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Consolidated Balance Sheets
Asset derivatives
Derivatives designated as hedging instruments:
Interest rate contractsOther current assets$351 $(246)$105 
Foreign currency contractsOther current assets58 (39)19 
Commodity contractsOther current assets199 (148)51 
Total $608 $(433)$175 
Derivatives not designated as hedging instruments:
Foreign currency contractsOther current assets$146 $(50)$96 
Commodity contractsOther current assets22 (1)21 
Total $168 $(51)$117 
Total asset derivatives  $776 $(484)$292 
Liability derivatives
Derivatives designated as hedging instruments:
Interest rate contractsAccrued and other current liabilities$246 $(246)$— 
Foreign currency contractsAccrued and other current liabilities58 (39)19 
Commodity contractsAccrued and other current liabilities258 (198)60 
Total $562 $(483)$79 
Derivatives not designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities$61 $(50)$11 
Commodity contractsAccrued and other current liabilities12 (11)1 
Total $73 $(61)$12 
Total liability derivatives  $635 $(544)$91 
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.

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 $77 million at March 31, 2023 ($80 million at December 31, 2022). No cash collateral was posted by counterparties with the Company at March 31, 2023 ($2 million at December 31, 2022).
The following tables summarize the gain (loss) of derivative instruments in the consolidated statements of income and comprehensive income for the three months ended March 31, 2023 and 2022:

Effect of Derivative Instruments
Amount of gain (loss) recognized in OCI 1
Amount of gain (loss) recognized in income 2
Income Statement Classification
Three Months EndedThree Months Ended
In millionsMar 31, 2023Mar 31, 2022Mar 31, 2023Mar 31, 2022
Derivatives designated as hedging instruments:
Fair value hedges:
Excluded components 3
$(1)$— $— $— Interest expense and amortization of debt discount
Cash flow hedges:
Interest rate contracts5 99 (2)(3)Interest expense and amortization of debt discount
Foreign currency contracts— 2 2 3 Cost of sales
Commodity contracts(143)207 (109)34 Cost of sales
Net foreign investment hedges:
Foreign currency contracts(9)(2)— — 
Excluded components 3
3 29 — 12 Sundry income (expense) - net
Total derivatives designated as hedging instruments$(145)$335 $(109)$46 
Derivatives not designated as hedging instruments:
Interest rate contracts$— $— $— $(1)Interest expense and amortization of debt discount
Foreign currency contracts— — 35 (85)Sundry income (expense) - net
Commodity contracts— — — 22 Cost of sales
Total return swap— — (7)— Cost of sales
Total derivatives not designated as hedging instruments$— $— $28 $(64)
Total derivatives$(145)$335 $(81)$(18)
1.OCI is defined as other comprehensive income (loss).
2.Pretax amounts.
3.The excluded components are related to the time value of the derivatives designated as hedges.

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 monthsMar 31, 2023
In millions
Cash flow hedges:
Interest rate contracts$(7)
Commodity contracts$(101)
Foreign currency contracts$— 
Net foreign investment hedges:
Excluded components$3 
v3.23.1
FAIR VALUE MEASUREMENTS (Notes)
 3 Months Ended
Mar. 31, 2023
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 2022 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:

Basis of Fair Value Measurements on a Recurring BasisMar 31, 2023Dec 31, 2022

Level 1		Level 2
Level 3		Total
Level 1		Level 2
Level 3		Total
In millions
Assets at fair value:
Cash equivalents:
Held-to-maturity securities 1
$— $714 $— $714 $— $872 $— $872 
Money market funds— 1,273 — 1,273 — 355 — 355 
Marketable securities 2
— 619 — 619 — 939 — 939 
Equity securities 3
18 — — 18 10 — — 10 
Nonconsolidated affiliates 4
— — 7 7 — — 7 7 
Debt securities: 3
Government debt 5
— 641 — 641 — 622 — 622 
Corporate bonds31 1,116 — 1,147 35 1,090 — 1,125 
Derivatives relating to: 6
Interest rates— 39 — 39 — 351 — 351 
Foreign currency— 122 — 122 — 204 — 204 
Commodities18 71 — 89 63 158 — 221 
Total assets at fair value$67 $4,595 $7 $4,669 $108 $4,591 $7 $4,706 
Liabilities at fair value:    
Long-term debt including debt due within one year 7
$— $14,239 $— $14,239 $— $13,875 $— $13,875 
Guarantee liability 8
— — 194 194 — — 199 199 
Derivatives relating to: 6
Interest rates— 37 — 37 — 246 — 246 
Foreign currency— 73 — 73 — 119 — 119 
Commodities68 81 — 149 103 167 — 270 
Total liabilities at fair value$68 $14,430 $194 $14,692 $103 $14,407 $199 $14,709 
1.The Company's held-to-maturity securities primarily included treasury bills and time deposits.
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.Estimated asset for an investment in a limited liability company included in "Investment in nonconsolidated affiliates" in the consolidated balance sheets.
5.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
6.See Note 14 for the classification of derivatives in the consolidated balance sheets.
7.See Note 14 for information on fair value measurements of long-term debt.
8.Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets.

For equity securities calculated at net asset value per share (or its equivalent), the Company had $84 million in private market securities and $20 million in real estate at March 31, 2023 ($92 million in private market securities and $20 million in real estate at December 31, 2022). There are no redemption restrictions and the unfunded commitments on these investments were $54 million at March 31, 2023 and December 31, 2022.

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 value represents the fair value of an investment in a limited liability company, accounted for as an investment in nonconsolidated affiliates. There was no unfunded commitment on the investment at March 31, 2023 or December 31, 2022.
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
As part of the 2023 Restructuring Program, the Company has or will shut down a number of manufacturing facilities, corporate facilities and miscellaneous assets around the world. In the first quarter of 2023, the assets associated with this plan were written down to zero, except for one corporate facility. The remaining corporate facility, which was classified as a level 3 measurement, was written down to a fair value of $16 million using unobservable inputs. In addition, impairments of leased, non-manufacturing facilities, which were classified as Level 3 measurements, resulted in a write-down of right-of-use assets to a fair value of $9 million using unobservable inputs. The impairment charges related to the 2023 Restructuring Program, totaling $197 million, were included in "Restructuring and asset related charges - net" in the consolidated statements of income and related to Packaging & Specialty Plastics ($1 million), Industrial Intermediates & Infrastructure ($40 million), Performance Materials & Coatings ($49 million) and Corporate ($107 million).
v3.23.1
SEGMENTS AND GEOGRAPHIC REGIONS (Notes)
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segments and Geographic Regions [Text Block] SEGMENTS AND GEOGRAPHIC REGIONS
Dow’s measure of profit/loss for segment reporting purposes is Operating EBIT as this is the manner in which the Company's chief operating decision maker assesses performance and allocates resources. 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 InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsCorp.Total
In millions
Three months ended Mar 31, 2023
Net sales$6,114 $3,378 $2,276 $83 $11,851 
Equity in earnings (losses) of nonconsolidated affiliates$21 $(73)$3 $1 $(48)
Dow Inc. Operating EBIT 1
$642 $123 $35 $(92)$708 
Three months ended Mar 31, 2022
Net sales$7,627 $4,524 $3,049 $64 $15,264 
Equity in earnings (losses) of nonconsolidated affiliates$110 $62 $3 $(1)$174 
Dow Inc. Operating EBIT 1
$1,234 $661 $595 $(71)$2,419 
1.Operating EBIT for TDCC for the three months ended March 31, 2023 and 2022 is substantially the same as that of Dow Inc. and therefore has not been disclosed separately in the table above. A reconciliation of "Net income (loss)" to Operating EBIT is provided in the following table.

Reconciliation of "Net income (loss)" to Operating EBIT Three Months Ended
In millionsMar 31, 2023Mar 31, 2022
Net income (loss)$(73)$1,552 
+ Provision (credit) for income taxes(47)503 
Income (loss) before income taxes$(120)$2,055 
- Interest income76 28 
+ Interest expense and amortization of debt discount185 167 
- Significant items(719)(225)
Operating EBIT$708 $2,419 
The following tables summarize the pretax impact of significant items by segment excluded from Operating EBIT:

Significant Items by Segment
Three Months Ended Mar 31, 2023
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsCorp.Total
In millions
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$(1)$(40)$(67)$(443)$(551)
Litigation related charges, awards and adjustments 2
— (177)— — (177)
Indemnification and other transaction related costs 3
— — — 9 9 
Total$(1)$(217)$(67)$(434)$(719)
1.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. Also includes certain gains and losses associated with previously impaired equity investments.
2.Includes a loss associated with legacy agricultural products groundwater contamination matters. See Note 8 for additional information.
3.Primarily related to 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.

Significant Items by Segment
Three Months Ended Mar 31, 2022
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsCorp.Total
In millions
Digitalization program costs 1
$— $— $— $(41)$(41)
Restructuring, implementation costs and asset related charges - net 2
— — — (10)(10)
Russia / Ukraine conflict charges 3
(31)(109)(16)(30)(186)
Indemnification and other transactions related costs 4
— — — 12 12 
Total$(31)$(109)$(16)$(69)$(225)
1.Includes costs associated with implementing the Company's Digital Acceleration program.
2.Includes costs associated with implementing the Company's 2020 Restructuring Program.
3.Asset related charges due to the Russia and Ukraine conflict. See Note 4 for additional information.
4.Primarily related to 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.
v3.23.1
REVENUE (Tables)
 3 Months Ended
Mar. 31, 2023
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 Ended
In millionsMar 31, 2023Mar 31, 2022
Hydrocarbons & Energy$1,874 $2,416 
Packaging and Specialty Plastics4,240 5,211 
Packaging & Specialty Plastics$6,114 $7,627 
Industrial Solutions $1,139 $1,515 
Polyurethanes & Construction Chemicals2,234 3,005 
Other5 4 
Industrial Intermediates & Infrastructure$3,378 $4,524 
Coatings & Performance Monomers$858 $1,075 
Consumer Solutions1,418 1,974 
Performance Materials & Coatings$2,276 $3,049 
Corporate$83 $64 
Total$11,851 $15,264 

Net Trade Sales by Geographic RegionThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
U.S. & Canada$4,450 $5,537 
EMEAI 1
4,053 5,512 
Asia Pacific2,047 2,753 
Latin America1,301 1,462 
Total$11,851 $15,264 
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 March 31, 2023 and December 31, 2022:

Contract Assets and LiabilitiesBalance Sheet ClassificationMar 31, 2023Dec 31, 2022
In millions
Accounts and notes receivable - tradeAccounts and notes receivable - trade$5,740 $5,611 
Contract assets - currentOther current assets$21 $48 
Contract assets - noncurrentDeferred charges and other assets$16 $16 
Contract liabilities - currentAccrued and other current liabilities$293 $275 
Contract liabilities - noncurrentOther noncurrent obligations$1,740 $1,725 
v3.23.1
Restructuring and Related Activities (Tables)
 3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
2023 Restructuring ProgramSeverance and Related Benefit CostsAsset Write-downs and Write-offsTotal
In millions
Packaging & Specialty Plastics$— $1 $1 
Industrial Intermediates & Infrastructure— 40 40 
Performance Materials & Coatings— 49 49 
Corporate344 107 451 
Total restructuring charges$344 $197 $541 
Charges against the reserve— (197)(197)
Cash payments(11)— (11)
Reserve balance at Mar 31, 2023$333 $— $333 
v3.23.1
SUPPLEMENTARY INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Sundry Income, Net
Dow Inc. Sundry Income (Expense) – NetThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Non-operating pension and other postretirement benefit plan net credits 1
$96 $89 
Foreign exchange gains (losses) 2
(102)2 
Gain on sales of other assets and investments 3
65 31 
Asset impairments and related costs 4
(18)— 
Indemnification and other transaction related costs 5
9 12 
Other - net29 14 
Total sundry income (expense) – net$79 $148 
1.See Note 12 for additional information.
2.Foreign exchange losses for the three months ended March 31, 2023 relate primarily to exposures in the Argentinian peso.
3.Includes gains associated with the sale of shares of a previously impaired equity method investment.
4.Certain obligations associated with a previously impaired equity method investment.
5.Primarily related to charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution.
v3.23.1
EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2023
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 months ended March 31, 2023 and 2022. 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 Ended
In millionsMar 31, 2023Mar 31, 2022
Net income (loss)$(73)$1,552 
Net income (loss) attributable to noncontrolling interests20 (17)
Net income attributable to participating securities 1
3 8 
Net income (loss) attributable to common stockholders$(96)$1,561 

Earnings (Loss) Per Share - Basic and DilutedThree Months Ended
Dollars per shareMar 31, 2023Mar 31, 2022
Earnings (loss) per common share - basic$(0.13)$2.12 
Earnings (loss) per common share - diluted$(0.13)$2.11 

Share Count InformationThree Months Ended
Shares in millionsMar 31, 2023Mar 31, 2022
Weighted-average common shares outstanding - basic708.2 734.6 
Plus dilutive effect of equity compensation plans 2
— 5.2 
Weighted-average common shares outstanding - diluted708.2 739.8 
Stock options and restricted stock units excluded from EPS calculations 3
22.1 6.8 
1.Restricted stock units are considered participating securities due to the Company's practice of paying dividend equivalents on unvested shares.
2.The three months ended March 31, 2023 reflect a net loss, and as such, the basic share count was used for purposes of calculating earnings per share on a diluted basis.
3.These outstanding options to purchase shares of common stock and restricted stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.
v3.23.1
INVENTORIES (Tables)
 3 Months Ended
Mar. 31, 2023
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block]
The following table provides a breakdown of inventories:

InventoriesMar 31, 2023Dec 31, 2022
In millions
Finished goods$3,974 $4,150 
Work in process1,458 1,476 
Raw materials867 954 
Supplies911 892 
Total$7,210 $7,472 
Adjustment of inventories to the LIFO basis(385)(484)
Total inventories$6,825 $6,988 
v3.23.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2023
Guarantor Obligations [Line Items]  
Lease, Cost
The components of lease cost for operating and finance leases for the three months ended March 31, 2023 and 2022 were as follows:

Lease CostThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Operating lease cost$98 $97 
Finance lease cost
Amortization of right-of-use assets - finance$26 $26 
Interest on lease liabilities - finance8 8 
Total finance lease cost$34 $34 
Short-term lease cost66 59 
Variable lease cost181 115 
Sublease income(2)(3)
Total lease cost$377 $302 
Schedule of Supplemental Cash Flow Information Related to Leases
The following table provides supplemental cash flow and other information related to leases:

Other Lease InformationThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$105 $101 
Operating cash flows for finance leases$8 $8 
Financing cash flows for finance leases$28 $22 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$99 $16 
Finance leases$6 $17 
v3.23.1
Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
The changes in each component of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2023 and 2022 were as follows:

Accumulated Other Comprehensive LossThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Unrealized Gains (Losses) on Investments
Beginning balance$(253)$59 
Unrealized gains (losses) on investments30 (121)
Tax (expense) benefit— 24 
Net unrealized gains (losses) on investments30 (97)
(Gains) losses reclassified from AOCL to net income (loss) 1
1 1 
Tax expense (benefit) 2
— — 
Net (gains) losses reclassified from AOCL to net income (loss)1 1 
Other comprehensive income (loss), net of tax31 (96)
Ending balance$(222)$(37)
Cumulative Translation Adjustment
Beginning balance$(1,934)$(1,355)
Gains (losses) on foreign currency translation84 (165)
Tax (expense) benefit2 13 
Net gains (losses) on foreign currency translation86 (152)
(Gains) losses reclassified from AOCL to net income (loss) 3
15 (12)
Other comprehensive income (loss), net of tax101 (164)
Ending balance$(1,833)$(1,519)
Pension and Other Postretirement Benefits
Beginning balance$(4,877)$(7,334)
Gains (losses) arising during the period2 2 
Amortization of net loss and prior service credits reclassified from AOCL to net income (loss) 4
3 157 
Tax expense (benefit) 2
1 (50)
Net loss and prior service credits reclassified from AOCL to net income (loss)4 107 
Other comprehensive income (loss), net of tax6 109 
Ending balance$(4,871)$(7,225)
Derivative Instruments
Beginning balance$(75)$(347)
Gains (losses) on derivative instruments(183)420 
Tax (expense) benefit33 (56)
Net gains (losses) on derivative instruments(150)364 
(Gains) losses reclassified from AOCL to net income (loss) 5
109 (34)
Tax expense (benefit) 2
(23)2 
Net (gains) losses reclassified from AOCL to net income (loss)86 (32)
Other comprehensive income (loss), net of tax(64)332 
Ending balance$(139)$(15)
Total AOCL ending balance$(7,065)$(8,796)
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 12 for additional information.
5.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."
v3.23.1
NONCONTROLLING INTERESTS Noncontrolling Interests (Tables)
 3 Months Ended
Mar. 31, 2023
Noncontrolling Interest [Abstract]  
Noncontrolling Interests [Table Text Block]
The following table summarizes the activity for equity attributable to noncontrolling interests for the three months ended March 31, 2023 and 2022:

Noncontrolling InterestsThree Months Ended

In millions
Mar 31, 2023Mar 31, 2022
Balance at beginning of period$529 $574 
Net income (loss) attributable to noncontrolling interests 1
20 (17)
Distributions to noncontrolling interests(13)(1)
Cumulative translation adjustments(3)(11)
Other1 — 
Balance at end of period$534 $545 
1.The first quarter of 2022 includes the portion of asset related charges attributable to noncontrolling interests related to a joint venture in Russia. See Note 4 for additional information.
v3.23.1
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 3 Months Ended
Mar. 31, 2023
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 Ended
In millionsMar 31, 2023Mar 31, 2022
Defined Benefit Pension Plans
Service cost$70 $99 
Interest cost 279 171 
Expected return on plan assets (389)(424)
Amortization of prior service credit(7)(6)
Amortization of net loss24 167 
Net periodic benefit cost (credit)$(23)$7 
Other Postretirement Benefit Plans
Service cost $1 $1 
Interest cost 11 7 
Amortization of net gain(14)(4)
Net periodic benefit cost (credit)$(2)$4 
v3.23.1
Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Fair Value of Financial Instruments
The following table summarizes the fair value of financial instruments at March 31, 2023 and December 31, 2022:

Fair Value of Financial InstrumentsMar 31, 2023Dec 31, 2022
In millionsCostGainLossFair ValueCostGainLossFair Value
Cash equivalents:
Held-to-maturity securities 1
$714 $— $— $714 $872 $— $— $872 
Money market funds1,273 — — 1,273 355 — — 355 
Total cash equivalents$1,987 $— $— $1,987 $1,227 $— $— $1,227 
Marketable securities 2
$610 $9 $— $619 $927 $12 $— $939 
Other investments:
Debt securities:
Government debt 3
$762 $1 $(122)$641 $754 $1 $(133)$622 
Corporate bonds1,272 9 (134)1,147 1,274 10 (159)1,125 
Total debt securities$2,034 $10 $(256)$1,788 $2,028 $11 $(292)$1,747 
Equity securities 4
5 13 — 18 5 5 — 10 
Total other investments$2,039 $23 $(256)$1,806 $2,033 $16 $(292)$1,757 
Total cash equivalents, marketable securities and other investments$4,636 $32 $(256)$4,412 $4,187 $28 $(292)$3,923 
Long-term debt including debt due within one year 5
$(14,986)$1,389 $(642)$(14,239)$(15,060)$1,683 $(498)$(13,875)
Derivatives relating to:
Interest rates 6
$— $2 $— $2 $— $105 $— $105 
Foreign currency— 66 (17)49 — 115 (30)85 
Commodities 6
— 24 (30)(6)— 72 (61)11 
Total derivatives$— $92 $(47)$45 $— $292 $(91)$201 
1.The Company's held-to-maturity securities primarily included treasury bills and time deposits.
2.The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets.
3.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
4.Equity securities with a readily determinable fair value.
5.Cost includes fair value hedge adjustment gains of $49 million at March 31, 2023 and $46 million at December 31, 2022 on $2,729 million of debt at March 31, 2023 and $2,279 million of debt at December 31, 2022.
6.Presented net of cash collateral where master netting arrangements allow.
Investing Results The following table provides investing results from available-for-sale securities for the three months ended March 31, 2023 and 2022:
Investing ResultsThree Months Ended
In millionsMar 31, 2023Mar 31, 2022
Proceeds from sales of available-for-sale securities$146 $113 
Gross realized gains$8 $12 
Gross realized losses $(9)$(13)
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 Mar 31, 2023
 CostFair Value
In millions
Within one year$78 $76 
One to five years894 814 
Six to ten years550 479 
After ten years512 419 
Total$2,034 $1,788 
Equity Securities with and without Readily Determinable Fair Value
Investments in Equity SecuritiesMar 31, 2023Dec 31, 2022
In millions
Readily determinable fair value$18 $10 
Not readily determinable fair value$178 $186 
Schedule of Notional Amounts of Outstanding Derivative Positions
The notional amounts of the Company's derivative instruments at March 31, 2023 and December 31, 2022 were as follows:

Notional Amounts 1
Mar 31, 2023Dec 31, 2022
In millions
Derivatives designated as hedging instruments:
Interest rate contracts$450 $1,500 
Foreign currency contracts$2,141 $2,408 
Derivatives not designated as hedging instruments:
Interest rate contracts$46 $3 
Foreign currency contracts$12,150 $8,837 
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 March 31, 2023 and December 31, 2022 were as follows:

Commodity Notionals 1
Mar 31, 2023Dec 31, 2022Notional Volume Unit
Derivatives designated as hedging instruments:
Hydrocarbon derivatives8.5 19.2 million barrels of oil equivalent
Derivatives not designated as hedging instruments:
Hydrocarbon derivatives1.0 — million barrels of oil equivalent
Power derivatives21.3 — thousands of megawatt hours
1.Notional amounts represent the net volume of open derivative positions outstanding at the end of the period.
Schedule of Derivative Instruments
Maturity Dates of Derivatives Designated as Hedging InstrumentsYear
Interest rate contracts2024
Foreign currency contracts2024
Commodity contracts2026
Schedule of Fair Values of Derivative Instruments
The following tables provide the fair value and balance sheet classification of derivative instruments at March 31, 2023 and December 31, 2022:

Fair Value of Derivative InstrumentsMar 31, 2023
In millionsBalance Sheet ClassificationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Consolidated Balance Sheets
Asset derivatives
Derivatives designated as hedging instruments:
Interest rate contractsDeferred charges and other assets$37 $(35)$2 
Foreign currency contractsOther current assets32 (32)— 
Commodity contractsOther current assets87 (65)22 
Total $156 $(132)$24 
Derivatives not designated as hedging instruments:
Interest rate contractsOther current assets$2 $(2)$— 
Foreign currency contracts Other current assets90 (24)66 
Commodity contractsOther current assets2 — 2 
Total $94 $(26)$68 
Total asset derivatives  $250 $(158)$92 
Liability derivatives
Derivatives designated as hedging instruments:
Interest rate contractsOther noncurrent obligations$35 $(35)$— 
Foreign currency contractsAccrued and other current liabilities41 (32)9 
Commodity contractsAccrued and other current liabilities147 (119)28 
Total $223 $(186)$37 
Derivatives not designated as hedging instruments:
Interest rate contractsAccrued and other current liabilities$2 $(2)$— 
Foreign currency contractsAccrued and other current liabilities32 (24)8 
Commodity contractsAccrued and other current liabilities2 — 2 
Total $36 $(26)$10 
Total liability derivatives  $259 $(212)$47 
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.
Fair Value of Derivative InstrumentsDec 31, 2022
In millionsBalance Sheet ClassificationGross
Counterparty and Cash Collateral Netting 1
Net Amounts Included in the Consolidated Balance Sheets
Asset derivatives
Derivatives designated as hedging instruments:
Interest rate contractsOther current assets$351 $(246)$105 
Foreign currency contractsOther current assets58 (39)19 
Commodity contractsOther current assets199 (148)51 
Total $608 $(433)$175 
Derivatives not designated as hedging instruments:
Foreign currency contractsOther current assets$146 $(50)$96 
Commodity contractsOther current assets22 (1)21 
Total $168 $(51)$117 
Total asset derivatives  $776 $(484)$292 
Liability derivatives
Derivatives designated as hedging instruments:
Interest rate contractsAccrued and other current liabilities$246 $(246)$— 
Foreign currency contractsAccrued and other current liabilities58 (39)19 
Commodity contractsAccrued and other current liabilities258 (198)60 
Total $562 $(483)$79 
Derivatives not designated as hedging instruments:
Foreign currency contractsAccrued and other current liabilities$61 $(50)$11 
Commodity contractsAccrued and other current liabilities12 (11)1 
Total $73 $(61)$12 
Total liability derivatives  $635 $(544)$91 
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.
Derivative Instruments, Gain (Loss)
The following tables summarize the gain (loss) of derivative instruments in the consolidated statements of income and comprehensive income for the three months ended March 31, 2023 and 2022:

Effect of Derivative Instruments
Amount of gain (loss) recognized in OCI 1
Amount of gain (loss) recognized in income 2
Income Statement Classification
Three Months EndedThree Months Ended
In millionsMar 31, 2023Mar 31, 2022Mar 31, 2023Mar 31, 2022
Derivatives designated as hedging instruments:
Fair value hedges:
Excluded components 3
$(1)$— $— $— Interest expense and amortization of debt discount
Cash flow hedges:
Interest rate contracts5 99 (2)(3)Interest expense and amortization of debt discount
Foreign currency contracts— 2 2 3 Cost of sales
Commodity contracts(143)207 (109)34 Cost of sales
Net foreign investment hedges:
Foreign currency contracts(9)(2)— — 
Excluded components 3
3 29 — 12 Sundry income (expense) - net
Total derivatives designated as hedging instruments$(145)$335 $(109)$46 
Derivatives not designated as hedging instruments:
Interest rate contracts$— $— $— $(1)Interest expense and amortization of debt discount
Foreign currency contracts— — 35 (85)Sundry income (expense) - net
Commodity contracts— — — 22 Cost of sales
Total return swap— — (7)— Cost of sales
Total derivatives not designated as hedging instruments$— $— $28 $(64)
Total derivatives$(145)$335 $(81)$(18)
1.OCI is defined as other comprehensive income (loss).
2.Pretax amounts.
3.The excluded components are related to the time value of the derivatives designated as hedges.
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 monthsMar 31, 2023
In millions
Cash flow hedges:
Interest rate contracts$(7)
Commodity contracts$(101)
Foreign currency contracts$— 
Net foreign investment hedges:
Excluded components$3 
v3.23.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2023
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:

Basis of Fair Value Measurements on a Recurring BasisMar 31, 2023Dec 31, 2022

Level 1		Level 2
Level 3		Total
Level 1		Level 2
Level 3		Total
In millions
Assets at fair value:
Cash equivalents:
Held-to-maturity securities 1
$— $714 $— $714 $— $872 $— $872 
Money market funds— 1,273 — 1,273 — 355 — 355 
Marketable securities 2
— 619 — 619 — 939 — 939 
Equity securities 3
18 — — 18 10 — — 10 
Nonconsolidated affiliates 4
— — 7 7 — — 7 7 
Debt securities: 3
Government debt 5
— 641 — 641 — 622 — 622 
Corporate bonds31 1,116 — 1,147 35 1,090 — 1,125 
Derivatives relating to: 6
Interest rates— 39 — 39 — 351 — 351 
Foreign currency— 122 — 122 — 204 — 204 
Commodities18 71 — 89 63 158 — 221 
Total assets at fair value$67 $4,595 $7 $4,669 $108 $4,591 $7 $4,706 
Liabilities at fair value:    
Long-term debt including debt due within one year 7
$— $14,239 $— $14,239 $— $13,875 $— $13,875 
Guarantee liability 8
— — 194 194 — — 199 199 
Derivatives relating to: 6
Interest rates— 37 — 37 — 246 — 246 
Foreign currency— 73 — 73 — 119 — 119 
Commodities68 81 — 149 103 167 — 270 
Total liabilities at fair value$68 $14,430 $194 $14,692 $103 $14,407 $199 $14,709 
1.The Company's held-to-maturity securities primarily included treasury bills and time deposits.
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.Estimated asset for an investment in a limited liability company included in "Investment in nonconsolidated affiliates" in the consolidated balance sheets.
5.U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
6.See Note 14 for the classification of derivatives in the consolidated balance sheets.
7.See Note 14 for information on fair value measurements of long-term debt.
8.Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets.
v3.23.1
SEGMENTS AND GEOGRAPHIC REGIONS (Tables)
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Segment InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsCorp.Total
In millions
Three months ended Mar 31, 2023
Net sales$6,114 $3,378 $2,276 $83 $11,851 
Equity in earnings (losses) of nonconsolidated affiliates$21 $(73)$3 $1 $(48)
Dow Inc. Operating EBIT 1
$642 $123 $35 $(92)$708 
Three months ended Mar 31, 2022
Net sales$7,627 $4,524 $3,049 $64 $15,264 
Equity in earnings (losses) of nonconsolidated affiliates$110 $62 $3 $(1)$174 
Dow Inc. Operating EBIT 1
$1,234 $661 $595 $(71)$2,419 
1.Operating EBIT for TDCC for the three months ended March 31, 2023 and 2022 is substantially the same as that of Dow Inc. and therefore has not been disclosed separately in the table above. A reconciliation of "Net income (loss)" to Operating EBIT is provided in the following table.
Reconciliation of income from continuing operations, net of tax to Operating EBIT [Table Text Block]
Reconciliation of "Net income (loss)" to Operating EBIT Three Months Ended
In millionsMar 31, 2023Mar 31, 2022
Net income (loss)$(73)$1,552 
+ Provision (credit) for income taxes(47)503 
Income (loss) before income taxes$(120)$2,055 
- Interest income76 28 
+ Interest expense and amortization of debt discount185 167 
- Significant items(719)(225)
Operating EBIT$708 $2,419 
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
Three Months Ended Mar 31, 2023
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsCorp.Total
In millions
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$(1)$(40)$(67)$(443)$(551)
Litigation related charges, awards and adjustments 2
— (177)— — (177)
Indemnification and other transaction related costs 3
— — — 9 9 
Total$(1)$(217)$(67)$(434)$(719)
1.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. Also includes certain gains and losses associated with previously impaired equity investments.
2.Includes a loss associated with legacy agricultural products groundwater contamination matters. See Note 8 for additional information.
3.Primarily related to 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.

Significant Items by Segment
Three Months Ended Mar 31, 2022
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsCorp.Total
In millions
Digitalization program costs 1
$— $— $— $(41)$(41)
Restructuring, implementation costs and asset related charges - net 2
— — — (10)(10)
Russia / Ukraine conflict charges 3
(31)(109)(16)(30)(186)
Indemnification and other transactions related costs 4
— — — 12 12 
Total$(31)$(109)$(16)$(69)$(225)
1.Includes costs associated with implementing the Company's Digital Acceleration program.
2.Includes costs associated with implementing the Company's 2020 Restructuring Program.
3.Asset related charges due to the Russia and Ukraine conflict. See Note 4 for additional information.
4.Primarily related to charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation.
v3.23.1
REVENUE (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Revenue from External Customer [Line Items]      
Revenue, Percentage from Products and Service Transferred to Customers 99.00% 99.00%  
Revenue, Remaining Performance Obligation, Amount $ 963   $ 840
Revenues 11,851 $ 15,264  
Contract with Customer, Liability, Revenue Recognized 40 65  
Accounts and notes receivable - Trade 5,740   5,611
Contract assets - current 21   48
Contract assets - noncurrent 16   16
Contract liabilities - current 293   275
Contract liabilities - noncurrent 1,740   1,725
Contract with Customer, Asset, Reclassified to Receivable 30    
The Dow Chemical Company      
Revenue from External Customer [Line Items]      
Accounts and notes receivable - Trade 5,740   $ 5,611
U.S. & Canada      
Revenue from External Customer [Line Items]      
Revenues 4,450 5,537  
EMEAI 1      
Revenue from External Customer [Line Items]      
Revenues 4,053 5,512  
Asia Pacific      
Revenue from External Customer [Line Items]      
Revenues 2,047 2,753  
Latin America      
Revenue from External Customer [Line Items]      
Revenues $ 1,301 1,462  
Maximum [Member]      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 17 years    
Packaging & Specialty Plastics [Member]      
Revenue from External Customer [Line Items]      
Revenues $ 6,114 7,627  
Packaging & Specialty Plastics [Member] | Hydrocarbons & Energy [Member]      
Revenue from External Customer [Line Items]      
Revenues 1,874 2,416  
Packaging & Specialty Plastics [Member] | Packaging and Specialty Plastics [Member]      
Revenue from External Customer [Line Items]      
Revenues 4,240 5,211  
Industrial Intermediates & Infrastructure [Member]      
Revenue from External Customer [Line Items]      
Revenues 3,378 4,524  
Industrial Intermediates & Infrastructure [Member] | Industrial Solutions [Member]      
Revenue from External Customer [Line Items]      
Revenues 1,139 1,515  
Industrial Intermediates & Infrastructure [Member] | Polyurethanes & CAV [Member]      
Revenue from External Customer [Line Items]      
Revenues 2,234 3,005  
Industrial Intermediates & Infrastructure [Member] | Other [Member]      
Revenue from External Customer [Line Items]      
Revenues 5 4  
Performance Materials & Coatings [Member]      
Revenue from External Customer [Line Items]      
Revenues 2,276 3,049  
Performance Materials & Coatings [Member] | Coatings and Performance Monomers [Member]      
Revenue from External Customer [Line Items]      
Revenues 858 1,075  
Performance Materials & Coatings [Member] | Consumer Solutions [Member]      
Revenue from External Customer [Line Items]      
Revenues 1,418 1,974  
Corporate Segment [Member]      
Revenue from External Customer [Line Items]      
Revenues $ 83 $ 64  
v3.23.1
RESTRUCTURING AND ASSET RELATED CHARGES - NET (2023 Restructuring Program) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges $ 551,000,000 $ 10,000,000
Restructuring and asset related charges - net 541,000,000 186,000,000
2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve 333,000,000  
Payments for Restructuring 11,000,000  
Restructuring Reserve, Settled without Cash 197,000,000  
Restructuring and asset related charges - net 541,000,000  
Restructuring Reserve, Settled without Cash $ (197,000,000)  
Restructuring and related workforce reduction 2,000  
2023 Restructuring Program | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve $ 333,000,000  
Payments for Restructuring 11,000,000  
Restructuring Reserve, Settled without Cash 0  
Restructuring Charges 344,000,000  
Restructuring and asset related charges - net 344,000,000  
Restructuring Reserve, Settled without Cash 0  
2023 Restructuring Program | Asset write-downs and write-offs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve 0  
Payments for Restructuring 0  
Restructuring Reserve, Settled without Cash 197,000,000  
Restructuring and asset related charges - net 197,000,000  
Restructuring Reserve, Settled without Cash (197,000,000)  
2023 Restructuring Program | Restructuring Implementation Costs    
Restructuring Cost and Reserve [Line Items]    
Payments for Restructuring 425,000,000  
Packaging & Specialty Plastics [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 1,000,000 0
Packaging & Specialty Plastics [Member] | 2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 1,000,000  
Packaging & Specialty Plastics [Member] | 2023 Restructuring Program | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 0  
Packaging & Specialty Plastics [Member] | 2023 Restructuring Program | Asset write-downs and write-offs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 1,000,000  
Industrial Intermediates & Infrastructure [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 40,000,000 0
Industrial Intermediates & Infrastructure [Member] | 2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 40,000,000  
Industrial Intermediates & Infrastructure [Member] | 2023 Restructuring Program | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 0  
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 40,000,000  
Performance Materials & Coatings [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 67,000,000 0
Performance Materials & Coatings [Member] | 2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 49,000,000  
Performance Materials & Coatings [Member] | 2023 Restructuring Program | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 0  
Performance Materials & Coatings [Member] | 2023 Restructuring Program | Asset write-downs and write-offs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 49,000,000  
Corporate Segment [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 443,000,000 $ 10,000,000
Corporate Segment [Member] | 2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 451,000,000  
Corporate Segment [Member] | 2023 Restructuring Program | Employee Severance [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 344,000,000  
Corporate Segment [Member] | 2023 Restructuring Program | Asset write-downs and write-offs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring and asset related charges - net 107,000,000  
Accrued and Other Current Liabilities [Member] | 2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve 256,000,000  
Other Noncurrent Obligations [Member] | 2023 Restructuring Program    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve $ 77,000,000  
v3.23.1
Restructuring and Related Activities (Asset Related Charges) (Details) - USD ($)
$ in Millions
 3 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges   $ 186
Restructuring and Asset Related Charges - Net    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges $ 186  
Packaging & Specialty Plastics [Member]    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges   31
Packaging & Specialty Plastics [Member] | Restructuring and Asset Related Charges - Net    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges 31  
Industrial Intermediates & Infrastructure [Member]    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges   109
Industrial Intermediates & Infrastructure [Member] | Restructuring and Asset Related Charges - Net    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges 109  
Performance Materials & Coatings [Member]    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges   16
Performance Materials & Coatings [Member] | Restructuring and Asset Related Charges - Net    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges 16  
Corporate Segment [Member]    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges   $ 30
Corporate Segment [Member] | Restructuring and Asset Related Charges - Net    
Restructuring Cost and Reserve [Line Items]    
Russia and Ukraine Conflict Asset Related Charges $ 30  
v3.23.1
Summary of Sundry Income (Expense) - Net (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Charges related to separation, distribution and tax matters agreements $ 9 $ 12
Sundry income (expense) - net 79 148
Nonoperating Income (Expense)    
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 96 89
Foreign Currency Transaction Gain (Loss), before Tax (102) 2
Gain (Loss) on Disposition of Other Assets 65 31
Restructuring Costs (18) 0
Charges related to separation, distribution and tax matters agreements 9 12
Other Nonoperating Income (Expense) 29 14
Sundry income (expense) - net $ 79 $ 148
v3.23.1
Supplier Finance Program (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Accounts Payable    
Supplier Finance Program Obligation, Current $ 290 $ 267
v3.23.1
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net income (loss) $ (73) $ 1,552
Net income (loss) attributable to noncontrolling interests 20 (17)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic 3 8
Net Income (Loss) Available to Common Stockholders, Basic $ (96) $ 1,561
Earnings Per Share, Basic $ (0.13) $ 2.12
Earnings Per Share, Diluted $ (0.13) $ 2.11
Weighted-average common shares outstanding - basic 708.2 734.6
Dilutive effect of equity compensation plans 0.0 5.2
Weighted-average common shares outstanding - diluted 708.2 739.8
Stock options and restricted stock units excluded from EPS calculations 22.1 6.8
v3.23.1
INVENTORIES (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Inventory Disclosure [Abstract]    
Finished goods $ 3,974 $ 4,150
Work in process 1,458 1,476
Raw materials 867 954
Supplies 911 892
Total 7,210 7,472
Adjustment of inventories to the LIFO basis (385) (484)
Total inventories $ 6,825 $ 6,988
v3.23.1
COMMITMENTS AND CONTINGENCIES (Environmental Matters) (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Loss Contingencies [Line Items]    
Accrual for environmental loss contingencies $ 1,233 $ 1,192
Accrual For Environmental Loss Contingencies Superfund Sites [Member]    
Loss Contingencies [Line Items]    
Accrual for environmental loss contingencies $ 254 $ 244
v3.23.1
COMMITMENTS AND CONTINGENCIES (Asbestos-Related Matters of Union Carbide Corporation) (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Loss Contingencies [Line Items]    
Liability for Asbestos and Environmental Claims, Gross $ 929 $ 947
Percentage of recorded asbestos liability related to pending claims 25.00%  
Percentage of recorded asbestos liability related to future claims 75.00%  
v3.23.1
Commitment and Contingencies (Groundwater Contamination) (Details) - Legacy agricultural chemical prodcuts
$ in Millions
 3 Months Ended
Mar. 31, 2023
USD ($)
Product Liability Contingency [Line Items]  
Product Liability Accrual, Period Expense $ 177
Product Liability Accrual, Component Amount $ 237
v3.23.1
COMMITMENTS AND CONTINGENCIES Indemnifications with Corning (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Dow Silicones Corporation [Member]    
Loss Contingencies [Line Items]    
Indemnification Asset $ 99 $ 98
v3.23.1
COMMITMENTS AND CONTINGENCIES Nova Ethylene Asset Matter (Details) - Nova Ethylene Asset Matter [Member]
$ in Millions, $ in Millions
Sep. 18, 2019
CAD ($)
Sep. 18, 2019
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Gain Contingencies [Line Items]        
Litigation Settlement, Amount Awarded from Other Party $ 1,430 $ 1,080    
Estimated Litigation Liability, Noncurrent     $ 323 $ 323
v3.23.1
LEASES COSTS AND OTHER INFORMATION (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Leases [Abstract]    
Operating Lease, Cost $ 98 $ 97
Finance Lease, Right-of-Use Asset, Amortization 26 26
Finance Lease, Interest Expense 8 8
Finance Lease, Cost 34 34
Short-term Lease, Cost 66 59
Variable Lease, Cost 181 115
Sublease Income (2) (3)
Lease, Cost 377 302
Operating Lease, Payments 105 101
Finance Lease, Interest Payment on Liability 8 8
Finance Lease, Principal Payments 28 22
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 99 16
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability $ 6 $ 17
v3.23.1
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss $ (7,065) $ (8,796) $ (7,139)  
Other Comprehensive Income (Loss), Net of Tax 74 181    
Derivative instruments (64) 332    
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (222) (37) (253) $ 59
Other Comprehensive Income (Loss), before Reclassifications, before Tax 30 (121)    
Other Comprehensive Income (Loss), Tax 0 24    
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 30 (97)    
Other Comprehensive Income (Loss), Net of Tax 31 (96)    
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 1 1    
Reclassification from AOCI, Current Period, Tax 0 0    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 1 1    
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (1,833) (1,519) (1,934) (1,355)
Other Comprehensive Income (Loss), before Reclassifications, before Tax 84 (165)    
Other Comprehensive Income (Loss), Tax 2 13    
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 86 (152)    
Other Comprehensive Income (Loss), Net of Tax 101 (164)    
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 15 (12)    
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (4,871) (7,225) (4,877) (7,334)
Other Comprehensive Income (Loss), before Reclassifications, before Tax 2 2    
Other Comprehensive Income (Loss), Net of Tax 6 109    
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 3 157    
Reclassification from AOCI, Current Period, Tax 1 (50)    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 4 107    
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss (139) (15) $ (75) $ (347)
Other Comprehensive Income (Loss), before Reclassifications, before Tax (183) 420    
Other Comprehensive Income (Loss), Tax 33 (56)    
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (150) 364    
Derivative instruments (64) 332    
Accumulated Net Gain (Loss) from Cash Flow Hedges 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 109 (34)    
Reclassification from AOCI, Current Period, Tax (23) 2    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax $ 86 $ (32)    
v3.23.1
NONCONTROLLING INTERESTS Noncontrolling Interests (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Noncontrolling Interest [Line Items]    
Balance at beginning of period $ 529  
Balance at end of period 534 $ 545
Noncontrolling Interest [Member]    
Noncontrolling Interest [Line Items]    
Balance at beginning of period 529 574
Net income (loss) attributable to noncontrolling interests 20 (17)
Distributions to noncontrolling interests (13) (1)
Cumulative translation adjustments (3) (11)
Other 1 0
Balance at end of period $ 534 $ 545
v3.23.1
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Pension Plan [Member]    
Defined Benefit Plan Disclosures [Line Items]    
Service cost $ 70 $ 99
Interest cost 279 171
Expected return on plan assets 389 424
Amortization of prior service credit (7) (6)
Defined Benefit Plan, Amortization of (Gain) Loss 24 167
Net periodic benefit cost (23) 7
Other Postretirement Benefits [Member]    
Defined Benefit Plan Disclosures [Line Items]    
Service cost 1 1
Interest cost 11 7
Defined Benefit Plan, Amortization of (Gain) Loss (14) (4)
Net periodic benefit cost $ (2) $ 4
v3.23.1
STOCK-BASED COMPENSATION (Stock Incentive Plan) (Details) - $ / shares
shares in Millions
 3 Months Ended
Mar. 31, 2023
Sep. 30, 2022
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   1.1
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price   $ 59.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 12.13
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%  
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent 85.00%  
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   1.8
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 59.03
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   1.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 64.04
v3.23.1
Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Gain (Loss) on Securities [Line Items]    
Cash Equivalents, at Carrying Value $ 1,987 $ 1,227
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax 0 0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0
Cash Equivalents, Fair Value 1,987 1,227
Available-for-sale Debt Securities, Amortized Cost Basis, Current 610 927
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, Current, before Tax 9 12
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, Current, before Tax 0 0
Debt Securities, Available-for-sale, Current 619 939
Debt Securities, Available-for-sale, Amortized Cost 2,034 2,028
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 10 11
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 256 292
Debt Securities, Available-for-sale 1,788 1,747
Equity Securities, Amortized Cost Basis 5 5
Equity Securities, Accumulated Gross Unrealized Gain, Before Tax 13 5
Equity Securities, Accumulated Gross Unrealized Loss, Before Tax 0 0
Equity Securities, Fair Value 18 10
Other Investments and Securities, at Cost 2,039 2,033
Other Investments and Securities, Accumulated Gross Unrealized Gain, Before Tax 23 16
Other Investments and Securities, Accumulated Gross Unrealized Loss, Before Tax 256 292
Investments, Fair Value Disclosure 1,806 1,757
Cash Equivalents, Marketable Securities and Other Investments, Amortized Cost Basis 4,636 4,187
Cash Equivalents, Marketable Securities and Other Investments, Accumulated Gross Unrealized Gain, Before Tax 32 28
Cash Equivalents, Marketable Securities and Other Investments, Accumulated Gross Unrealized Loss, Before Tax 256 292
Cash Equivalents, Marketable Securities and Other Investments, Fair Value 4,412 3,923
Long-term Debt 14,986 15,060
Long Term Debt, Accumulated Gross Unrealized Gain, Before Tax 1,389 1,683
Long Term Debt, Accumulated Gross Unrealized Loss, Before Tax 642 498
Long-term Debt, Fair Value 14,239 13,875
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 92 292
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 47 91
Derivative Assets (Liabilities), at Fair Value, Net 45 201
Long Term Debt, Accumulated Fair Value Adjustment 49 46
Derivative, Amount of Hedged Item 2,729 2,279
Interest Rate Contract [Member]    
Gain (Loss) on Securities [Line Items]    
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 2 105
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 0 0
Derivative Assets (Liabilities), at Fair Value, Net 2 105
Foreign Exchange Contract [Member]    
Gain (Loss) on Securities [Line Items]    
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 66 115
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 17 30
Derivative Assets (Liabilities), at Fair Value, Net 49 85
Commodity Contract [Member]    
Gain (Loss) on Securities [Line Items]    
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax 24 72
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax 30 61
Derivative Assets (Liabilities), at Fair Value, Net (6) 11
US Treasury and Government [Member]    
Gain (Loss) on Securities [Line Items]    
Debt Securities, Available-for-sale, Amortized Cost 762 754
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 1 1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 122 133
Debt Securities, Available-for-sale 641 622
Corporate Debt Securities [Member]    
Gain (Loss) on Securities [Line Items]    
Debt Securities, Available-for-sale, Amortized Cost 1,272 1,274
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 9 10
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 134 159
Debt Securities, Available-for-sale 1,147 1,125
Held-to-maturity Securities    
Gain (Loss) on Securities [Line Items]    
Cash Equivalents, at Carrying Value 714 872
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax 0 0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0
Cash Equivalents, Fair Value 714 872
Money Market Funds    
Gain (Loss) on Securities [Line Items]    
Cash Equivalents, at Carrying Value 1,273 355
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax 0 0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax 0 0
Cash Equivalents, Fair Value $ 1,273 $ 355
v3.23.1
Debt Investments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]      
Proceeds from sales of available-for-sale securities $ 146 $ 113  
Gross realized gains 8 12  
Available-for-sale Securities, Gross Realized Losses (9) (13)  
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost 78    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value 76    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost 894    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value 814    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost 550    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value 479    
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost 512    
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value 419    
Debt Securities, Available-for-sale, Amortized Cost 2,034   $ 2,028
Debt Securities, Available-for-sale 1,788   1,747
Equity Securities, Net Unrealized Gain (Loss) 8 $ 3  
Equity Securities, FV-NI, Current 18   10
Equity Securities without Readily Determinable Fair Value, Amount $ 178   $ 186
v3.23.1
Notional Amounts (Details)
$ in Millions
Mar. 31, 2023
USD ($)
Boe
MWh
Dec. 31, 2022
USD ($)
Boe
MWh
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount $ 450 $ 1,500
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount 46 3
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount 2,141 2,408
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Notional Amount $ 12,150 $ 8,837
Commodity Contract Hydrocarbons | Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Nonmonetary Notional Amount | Boe 8,500,000 19,200,000
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 0
Commodity Contract Power | Not Designated as Hedging Instrument [Member]    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Derivative, Nonmonetary Notional Amount | MWh 21,300 0
v3.23.1
Schedule of Fair Value of Derivative Instruments (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Derivatives, Fair Value [Line Items]    
Derivative Liability, Collateral, Right to Reclaim Cash, Offset $ 77 $ 80
Derivative Asset, Collateral, Obligation to Return Cash, Offset   2
Fair Value, Inputs, Level 2 [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 250 776
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (158) (484)
Derivative Asset 92 292
Derivative Liability, Fair Value, Gross Liability 259 635
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (212) (544)
Derivative Liability 47 91
Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 156 608
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (132) (433)
Derivative Asset 24 175
Derivative Liability, Fair Value, Gross Liability 223 562
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (186) (483)
Derivative Liability 37 79
Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 94 168
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (26) (51)
Derivative Asset 68 117
Derivative Liability, Fair Value, Gross Liability 36 73
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (26) (61)
Derivative Liability 10 12
Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Current   105
Derivative Asset, Noncurrent 2  
Derivative Liability, Current   0
Derivative Liability, Noncurrent 0  
Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Current 0  
Derivative Liability, Current 0  
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Current 0 19
Derivative Liability, Current 9 19
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Current 66 96
Derivative Liability, Current 8 11
Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Current 22 51
Derivative Liability, Current 28 60
Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Current 2 21
Derivative Liability, Current 2 1
Other Current Assets [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement   351
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset   (246)
Other Current Assets [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 2  
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (2)  
Other Current Assets [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 32 58
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (32) (39)
Other Current Assets [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 90 146
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (24) (50)
Other Current Assets [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 87 199
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (65) (148)
Other Current Assets [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 2 22
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset 0 (1)
Deferred charges and other assets [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 37  
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset (35)  
Accrued and Other Current Liabilities [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability   246
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset   (246)
Accrued and Other Current Liabilities [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 2  
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (2)  
Accrued and Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 41 58
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (32) (39)
Accrued and Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 32 61
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (24) (50)
Accrued and Other Current Liabilities [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 147 258
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset (119) (198)
Accrued and Other Current Liabilities [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 2 12
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset 0 $ (11)
Other Noncurrent Obligations [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Fair Value, Gross Liability 35  
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset $ (35)  
v3.23.1
Effect of Derivative Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax $ (64) $ 332
Designated as Hedging Instrument [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) on Hedging Activity (109) 46
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (145) 335
Not Designated as Hedging Instrument [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 28 (64)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 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
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 0 (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 5 99
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 (2) (3)
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 3 29
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 0 12
Excluded Components [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax 0 0
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 (1) 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
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 35 (85)
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 0 2
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 2 3
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
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (9) (2)
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
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 0 22
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 (143) 207
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 (109) 34
Derivative    
Derivative Instruments, Gain (Loss) [Line Items]    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (145) 335
Derivative, Gain (Loss) on Derivative, Net (81) (18)
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
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 $ (7) $ 0
v3.23.1
Expected Reclassification (Details)
$ in Millions
Mar. 31, 2023
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 $ (7)
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 (101)
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 0
Excluded Components [Member]  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Hedge Gain (Loss) to be Reclassified During Next 12 Months, Excluded Components, Net $ 3
v3.23.1
FAIR VALUE MEASUREMENTS (Summary of Recurring Measured Fair Values) (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity Securities, FV-NI, Current $ 18 $ 10
Investment in nonconsolidated affiliates 1,508 1,589
Debt Securities, Available-for-sale 1,788 1,747
Long-term debt including debt due within one year 6 14,239 13,875
US Treasury and Government [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 641 622
Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 1,147 1,125
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 250 776
Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 619 939
Equity Securities, FV-NI, Current 18 10
Total assets at fair value 4,669 4,706
Long-term debt including debt due within one year 6 14,239 13,875
Total liabilities at fair value 14,692 14,709
Fair Value, Recurring [Member] | Sadara Chemical Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Guarantees, Fair Value Disclosure 194 199
Fair Value, Recurring [Member] | Held-to-maturity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 714 872
Fair Value, Recurring [Member] | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 1,273 355
Fair Value, Recurring [Member] | Equity Method Investments [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment in nonconsolidated affiliates 7 7
Fair Value, Recurring [Member] | Interest Rate Swap [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 39 351
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 37 246
Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 122 204
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 73 119
Fair Value, Recurring [Member] | Commodity Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 89 221
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 149 270
Fair Value, Recurring [Member] | US Treasury and Government [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 641 622
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 1,147 1,125
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Equity Securities, FV-NI, Current 18 10
Total assets at fair value 67 108
Long-term debt including debt due within one year 6 0 0
Total liabilities at fair value 68 103
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Sadara Chemical Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Guarantees, Fair Value Disclosure 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Held-to-maturity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Method Investments [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment in nonconsolidated affiliates 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 0 0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Exchange Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 0 0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0 0
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, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 18 63
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 68 103
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 0 0
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 31 35
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 619 939
Equity Securities, FV-NI, Current 0 0
Total assets at fair value 4,595 4,591
Long-term debt including debt due within one year 6 14,239 13,875
Total liabilities at fair value 14,430 14,407
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Sadara Chemical Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Guarantees, Fair Value Disclosure 0 0
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 1 714 872
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 1 1,273 355
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Method Investments [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment in nonconsolidated affiliates 0 0
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, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 39 351
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 37 246
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, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 122 204
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 73 119
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, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 71 158
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 81 167
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 641 622
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 1,116 1,090
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 84 92
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 20 20
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 54 54
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Equity Securities, FV-NI, Current 0 0
Total assets at fair value 7 7
Long-term debt including debt due within one year 6 0 0
Total liabilities at fair value 194 199
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 194 199
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Held-to-maturity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Method Investments [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investment in nonconsolidated affiliates 7 7
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 0 0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Exchange Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 0 0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 0 0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Securities, Available-for-sale 0 0
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 $ 0 $ 0
v3.23.1
FAIR VALUE MEASUREMENTS (Summary of Nonrecurring Measured Fair Values) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net $ 541 $ 186
2023 Restructuring Program    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 541  
2023 Restructuring Program | Packaging & Specialty Plastics [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 1  
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 40  
2023 Restructuring Program | Performance Materials & Coatings [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 49  
2023 Restructuring Program | Corporate Segment [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 451  
Asset write-downs and write-offs [Member] | 2023 Restructuring Program    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 197  
Asset write-downs and write-offs [Member] | 2023 Restructuring Program | Packaging & Specialty Plastics [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 1  
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 40  
Asset write-downs and write-offs [Member] | 2023 Restructuring Program | Performance Materials & Coatings [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 49  
Asset write-downs and write-offs [Member] | 2023 Restructuring Program | Corporate Segment [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Restructuring and asset related charges - net 107  
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Non-manufacturing Assets [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, Fair Value Disclosure 16  
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Leased, Non-manufacturing Facilities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, Fair Value Disclosure $ 9  
v3.23.1
SEGMENTS AND GEOGRAPHIC REGIONS Segment Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Segment Reporting Information [Line Items]    
Net sales $ 11,851 $ 15,264
Equity in earnings (losses) of nonconsolidated affiliates (48) 174
Operating EBIT 708 2,419
Packaging & Specialty Plastics [Member]    
Segment Reporting Information [Line Items]    
Net sales 6,114 7,627
Equity in earnings (losses) of nonconsolidated affiliates 21 110
Operating EBIT 642 1,234
Industrial Intermediates & Infrastructure [Member]    
Segment Reporting Information [Line Items]    
Net sales 3,378 4,524
Equity in earnings (losses) of nonconsolidated affiliates (73) 62
Operating EBIT 123 661
Performance Materials & Coatings [Member]    
Segment Reporting Information [Line Items]    
Net sales 2,276 3,049
Equity in earnings (losses) of nonconsolidated affiliates 3 3
Operating EBIT 35 595
Corporate Segment [Member]    
Segment Reporting Information [Line Items]    
Net sales 83 64
Equity in earnings (losses) of nonconsolidated affiliates 1 (1)
Operating EBIT $ (92) $ (71)
v3.23.1
SEGMENTS AND GEOGRAPHIC REGIONS EBIT Reconciliation (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Segment Reporting [Abstract]    
Net income (loss) $ (73) $ 1,552
Provision for income taxes (47) 503
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (120) 2,055
Interest Income, Other 76 28
Interest Expense, Debt 185 167
Other Nonrecurring (Income) Expense (719) (225)
Operating EBIT $ 708 $ 2,419
v3.23.1
SEGMENTS AND GEOGRAPHIC REGIONS Significant Items (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Segment Reporting Information [Line Items]    
Digitalization program costs   $ (41)
Restructuring Charges $ (551) (10)
Russia and Ukraine Conflict Asset Related Charges   (186)
Gain (Loss) Related to Litigation Settlement (177)  
Charges related to separation, distribution and tax matters agreements 9 12
Other Nonrecurring (Income) Expense (719) (225)
Packaging & Specialty Plastics [Member]    
Segment Reporting Information [Line Items]    
Digitalization program costs   0
Restructuring Charges (1) 0
Russia and Ukraine Conflict Asset Related Charges   (31)
Gain (Loss) Related to Litigation Settlement 0  
Charges related to separation, distribution and tax matters agreements 0 0
Other Nonrecurring (Income) Expense (1) (31)
Industrial Intermediates & Infrastructure [Member]    
Segment Reporting Information [Line Items]    
Digitalization program costs   0
Restructuring Charges (40) 0
Russia and Ukraine Conflict Asset Related Charges   (109)
Gain (Loss) Related to Litigation Settlement (177)  
Charges related to separation, distribution and tax matters agreements 0 0
Other Nonrecurring (Income) Expense (217) (109)
Performance Materials & Coatings [Member]    
Segment Reporting Information [Line Items]    
Digitalization program costs   0
Restructuring Charges (67) 0
Russia and Ukraine Conflict Asset Related Charges   (16)
Gain (Loss) Related to Litigation Settlement 0  
Charges related to separation, distribution and tax matters agreements 0 0
Other Nonrecurring (Income) Expense (67) (16)
Corporate Segment [Member]    
Segment Reporting Information [Line Items]    
Digitalization program costs   (41)
Restructuring Charges (443) (10)
Russia and Ukraine Conflict Asset Related Charges   (30)
Gain (Loss) Related to Litigation Settlement 0  
Charges related to separation, distribution and tax matters agreements 9 12
Other Nonrecurring (Income) Expense $ (434) $ (69)