Union Carbide 10-K 1 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 01, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-1463
Entity Registrant Name	UNION CARBIDE CORPORATION
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-1421730
Entity Address, Address Line One	7501 State Highway 185 North
Entity Address, City or Town	Seadrift
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77983
City Area Code	361
Local Phone Number	553-2997
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		935.51
Entity Central Index Key	0000100790
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Public Float			$ 0
ICFR Auditor Attestation Flag	false
Auditor Firm ID	34
Auditor Location	Midland, Michigan
Auditor Name	DELOITTE & TOUCHE LLP

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net trade sales	$ 191	$ 154	$ 129
Net sales to related companies	5,258	4,951	3,574
Total net sales	5,449	5,105	3,703
Cost of sales	4,586	4,463	3,245
Research and development expenses	26	25	24
Selling, general and administrative expenses	10	9	9
Restructuring Charges	0	1	15
Total sundry income (expense) - net	(53)	(53)	168
Interest Income, Other	18	2	12
Interest expense and amortization of debt discount	26	27	33
Income Before Income Taxes	766	529	557
Provision (Credit) for income taxes	172	154	130
Net Income Attributable to Union Carbide Corporation	$ 594	$ 375	$ 427

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income attributable to Union Carbide Corporation	$ 594	$ 375	$ 427
Other comprehensive income (loss), net of tax
Cumulative translation adjustments	(1)	2	1
Pension and other postretirement benefit plans	150	217	(106)
Net other comprehensive income	149	219	(105)
Comprehensive income attributable to Union Carbide Corporation	$ 743	$ 594	$ 322

UCC Consolidated Balance Sheet

UCC Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 10	$ 11
Trade (net of allowance for doubtful receivables 2022: $—; 2021: $—)	40	49
Accounts Receivable, Related Parties	766	1,394
Other	24	29
Income taxes receivable	211	306
Notes receivable from related companies	958	988
Inventories	256	250
Other current assets	38	41
Total current assets	2,303	3,068
Investments in related companies	237	237
Other investments	23	22
Noncurrent receivables	91	83
Noncurrent receivables from related companies	61	68
Total investments	412	410
Property	7,104	7,168
Less accumulated depreciation	5,922	5,960
Net property	1,182	1,208
Intangible assets (net of accumulated amortization 2022: $100; 2021: $103)	9	13
Operating lease, right-of-use asset	107	122
Deferred Tax Assets, Deferred Income	239	288
Deferred charges and other assets	37	47
Total other assets	392	470
Total Assets	4,289	5,156
Notes payable to related companies	51	30
Notes Payable to Bank	4	0
Long-term debt due within one year	132	3
Trade	284	362
Related companies	411	622
Other	16	27
Operating lease liabilities - current	21	20
Income taxes payable	33	25
Asbestos-related liabilities - current	90	85
Accrued and other current liabilities	145	171
Total current liabilities	1,187	1,345
Long-term Debt and Lease Obligation	262	392
Pension and other postretirement benefits - noncurrent	298	491
Asbestos-related liabilities - noncurrent	857	931
Operating lease liabilities - noncurrent	87	103
Other noncurrent obligations	254	230
Total other noncurrent liabilities	1,496	1,755
Common stock (authorized: 1,000 shares of $0.01 par value each; issued: 935.51 shares)	0	0
Additional paid-in capital	141	141
Retained earnings	2,605	3,074
Accumulated other comprehensive loss	(1,402)	(1,551)
Union Carbide Corporation's stockholders' equity	1,344	1,664
Total Liabilities and Equity	$ 4,289	$ 5,156

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parentheticals - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 0	$ 0
Finite-Lived Intangible Assets, Accumulated Amortization	$ 100	$ 103
Common stock, shares authorized (in shares)	1,000	1,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	935.51	935.51

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Net income attributable to Union Carbide Corporation	$ 594	$ 375	$ 427
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	199	202	210
Provision for deferred income tax	5	140	46
Net gain on sales of property and investments	(3)	(6)	(271)
Restructuring and asset related charges - net	0	1	15
Net periodic pension benefit cost (credit)	9	(5)	56
Pension contributions	(3)	(549)	(2)
Gain (Loss) on Extinguishment of Debt	0	0	19
Other Noncash Expense	0	11	0
Changes in assets and liabilities:
Accounts and notes receivable	14	(22)	(6)
Related company receivables	658	(24)	(194)
Inventories	(6)	(48)	33
Accounts payable	(89)	132	28
Related company payables	(190)	210	24
Asbestos-related payments	(69)	(82)	(67)
Other assets and liabilities	75	71	(42)
Cash provided by operating activities	1,194	406	276
Investing Activities
Capital expenditures	(143)	(121)	(135)
Change in noncurrent receivable from related company	7	(2)	0
Proceeds from sales of property	3	7	330
Cash provided by (used for) investing activities	(133)	(116)	195
Financing Activities
Dividends paid to parent	(1,063)	(288)	(362)
Changes in short-term notes payable	4	0	(6)
Payments on long-term debt	(3)	(2)	(84)
Payments of Financing Costs	0	0	(19)
Cash used for financing activities	(1,062)	(290)	(471)
Summary
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(1)	0	0
Cash and cash equivalents at beginning of year	11	11	11
Cash and cash equivalents at end of year	$ 10	$ 11	$ 11

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accum. Other Comp Loss
Beginning balance at Dec. 31, 2019		$ 0	$ 141	$ 2,922	$ (1,665)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Union Carbide Corporation	$ 427			427
Dividends declared				(362)
Stockholders' Equity, Other				0
Other Comprehensive Income (Loss), Net of Tax	(105)				(105)
Ending balance at Dec. 31, 2020	1,358	0	141	2,987	(1,770)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Union Carbide Corporation	375			375
Dividends declared				(288)
Stockholders' Equity, Other				0
Other Comprehensive Income (Loss), Net of Tax	219				219
Ending balance at Dec. 31, 2021	1,664	0	$ 141	3,074	(1,551)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Union Carbide Corporation	594			594
Dividends declared				(1,063)
Stockholders' Equity, Other				0
Other Comprehensive Income (Loss), Net of Tax	149				149
Ending balance at Dec. 31, 2022	$ 1,344	$ 0		$ 2,605	$ (1,402)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Notes)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation Except as otherwise indicated by the context, the terms "Corporation" and "UCC" as used herein mean Union Carbide Corporation and its consolidated subsidiaries. The accompanying consolidated financial statements of the Corporation were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which the Corporation exercises control and, when applicable, entities for which the Corporation has a controlling financial interest. Investments in nonconsolidated affiliates (20-50 percent owned companies, joint ventures and partnerships) are accounted for using the equity method. The Corporation is a wholly owned subsidiary of The Dow Chemical Company ("TDCC"). In accordance with the accounting guidance for earnings per share, the presentation of earnings per share is not required in financial statements of wholly owned subsidiaries. TDCC conducts its worldwide operations through global businesses. The Corporation’s business activities comprise components of TDCC’s global businesses rather than stand-alone operations. Because there are no separate reportable business segments for UCC under the accounting guidance related to segment reporting and no detailed business information is provided to a chief operating decision maker regarding the Corporation’s stand-alone operations, the Corporation’s results are reported as a single operating segment. Intercompany transactions and balances are eliminated in consolidation. Transactions with the Corporation’s parent company, TDCC, and other subsidiaries of TDCC, have been reflected as related company transactions in the consolidated financial statements. See Note 18 for additional information. Use of Estimates in Financial Statement Preparation The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Corporation's consolidated financial statements include amounts that are based on management's best estimates and judgments. Actual results could differ from those estimates. Significant Accounting Policies Asbestos-Related Matters Accruals for asbestos-related matters, including defense and processing costs, are recorded based on an analysis of claim and resolution activity, defense spending and pending and future claims. These accruals are assessed at each balance sheet date to determine if the asbestos-related liability remains appropriate. Accruals for asbestos-related matters are included in the consolidated balance sheets in "Asbestos-related liabilities - current" and "Asbestos-related liabilities - noncurrent." See Note 13 for additional information. Legal Costs The Corporation expenses legal costs as incurred, with the exception of defense and processing costs associated with asbestos-related matters. Foreign Currency Translation While the Corporation's consolidated subsidiaries are primarily based in the United States, the Corporation has small subsidiaries in Asia Pacific and the rest of the world. For those subsidiaries, the local currency has been primarily used as the functional currency. Translation gains and losses of those operations that use local currency as the functional currency are included in the consolidated balance sheets in "Accumulated other comprehensive loss" ("AOCL"). Where the U.S. dollar is used as the functional currency, foreign currency translation gains and losses are reflected in income. 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. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the consolidated balance sheets in "Accrued and other current liabilities" and "Other noncurrent obligations" at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the consolidated balance sheets in "Accounts receivable - Other." Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable. Cash and Cash Equivalents Cash and cash equivalents include time deposits and investments with maturities of three months or less at the time of purchase. Financial Instruments The Corporation calculates the fair value of financial instruments using quoted market prices when available. When quoted market prices are not available for financial instruments, the Corporation uses standard pricing models with market-based inputs that take into account the present value of estimated future cash flows. Inventories Inventories are stated at the lower of cost or net realizable value. The method of determining cost for each subsidiary varies among last-in, first-out ("LIFO"); first-in, first-out ("FIFO"); and average cost, and is used consistently from year to year. The Corporation routinely exchanges and swaps raw materials and finished goods with other companies to reduce delivery time, freight and other transportation costs. These transactions are treated as non-monetary exchanges and are valued at cost. Property Land, buildings and equipment are carried at cost less accumulated depreciation. Property under finance lease agreements is carried at the present value of lease payments over the lease term less accumulated amortization. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related accumulated depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income. Impairment and Disposal of Long-Lived Assets The Corporation evaluates long-lived assets (property, finite-lived intangible assets and right-of-use assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When undiscounted future cash flows are not expected to be sufficient to recover an asset's carrying amount, the asset is written down to its fair value based on bids received from third parties or a discounted cash flow analysis based on market participant assumptions. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation/amortization is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value, and depreciation/amortization is recognized over the remaining useful life of the assets. Other Intangible Assets Finite-lived intangible assets, such as developed technology and software, are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from three to twenty years. Investments in Related Companies Investments in related companies consist of the Corporation's ownership interests in TDCC subsidiaries located in the United States and Latin America. The Corporation accounts for these investments using the cost method as it does not have significant influence over the operating and financial policies of these related companies. Leases UCC determines whether a contract contains a lease at contract inception. A contract contains a lease if there is an identified asset and the Corporation has the right to control the asset. Operating lease right-of-use (“ROU”) assets represent UCC’s right to use an underlying asset for the lease term, and lease liabilities represent UCC’s obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. UCC uses the incremental borrowing rate in determining the present value of lease payments, unless the implicit rate is readily determinable. If lease terms include options to extend or terminate the lease, the ROU asset and lease liability are measured based on the reasonably certain decision. Leases with a term of 12 months or less at the commencement date are not recognized on the balance sheet and are expensed as incurred. UCC has lease agreements with lease and non-lease components, which are accounted for as a single lease component for nearly all classes of leased assets for which UCC is the lessee. Additionally, for certain equipment leases, the portfolio approach is applied to account for the operating lease ROU assets and lease liabilities. In the consolidated statements of income, lease expense for operating lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. Some leasing arrangements require variable payments that are dependent upon usage or output, or may vary for other reasons, such as insurance or tax payments. Variable lease payments are recognized as incurred and are not presented as part of the ROU asset or lease liability. See Note 14 for additional information. Revenue Substantially all of the Corporation's revenues are generated by sales to TDCC. Revenue for product sales to related companies is recognized when the related company obtains control of the product, which occurs either at the time that production is complete or shipped free on board ("FOB") from UCC's manufacturing facility, in accordance with the sales agreement between the Corporation and TDCC. The Corporation recognizes revenue for product sales to trade customers when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Corporation expects to receive in exchange for those goods or services. To determine revenue recognition, the Corporation performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 3 for additional information. Severance Costs Management routinely reviews its operations around the world in an effort to ensure competitiveness across its operations and geographic regions. When the reviews result in a workforce reduction related to the shutdown of facilities or other optimization activities, severance benefits are provided to employees primarily under ongoing benefit arrangements. These severance costs are accrued once management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated. Income Taxes The Corporation accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date. The Corporation is included in the same consolidated federal income tax group and consolidated income tax return as TDCC. The Corporation accounts for its income taxes following the formula in the TDCC-UCC Tax Sharing Agreement used to compute the amount due to TDCC or UCC for UCC's share of taxable income and tax attributes on the consolidated income tax return. This method generally follows the separate return method. The amounts reported as income taxes payable or receivable represent the Corporation's payment obligation (or refundable amount) to TDCC based on a theoretical tax liability calculated on a separate return method. The Corporation recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The Corporation accrues for non-income tax contingencies when it is probable that a liability to a taxing authority has been incurred and the amount of the contingency can be reasonably estimated. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested.

RECENT ACCOUNTING GUIDANCE (Not

RECENT ACCOUNTING GUIDANCE (Notes)	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Update and Change in Accounting Principle	RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance In the first quarter of 2021, the Corporation adopted Accounting Standards Update ("ASU") 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." The amendments simplify the accounting for income taxes by removing certain exceptions to the general principles of Topic 740, "Income Taxes" and improve consistent application by clarifying and amending existing guidance. The adoption of this guidance did not have a material impact on the consolidated financial statements. Accounting Guidance Issued But Not Adopted at December 31, 2022 In September 2022, the Financial Accounting Standards Board issued ASU 2022-04, "Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations," which requires disclosures intended to enhance the transparency of supplier finance programs. The amendments in this ASU 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 the disclosure of rollforward information, which 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,

REVENUE (Notes)

REVENUE (Notes)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Substantially all of the Corporation's revenue is generated by sales of products, primarily to TDCC. Products are sold to and purchased from TDCC at prices determined in accordance with the terms of an agreement between UCC and TDCC. The Corporation sells its products to TDCC to simplify the customer interface process. Substantially all product sale contracts are short-term in nature and have original expected durations of one year or less. Revenue from product sales is recognized when TDCC or the trade customer obtains control of the Corporation’s product, which occurs at a point in time, typically at the time production is complete or product is shipped FOB from UCC’s manufacturing facility for sales to TDCC, or upon shipment for sales to trade customers. The Corporation’s payment terms are on average 30 to 60 days after invoicing. All shipping and handling activities that occur after control transfers to the customer are considered fulfillment activities. Certain long-term contracts include a series of distinct goods that are delivered continuously to the customer through a pipeline. For these types of product sales, the Corporation invoices the customer in an amount that directly corresponds with the value to the customer of the Corporation’s performance to date. As a result, revenue is recognized based on the amount billable to the customer in accordance with the right to invoice practical expedient. The transaction price for product sales includes estimates for the most likely amount of consideration to which the Corporation will be entitled based on historical award experience and the Corporation’s best judgment at the time. Taxes collected and remitted to governmental authorities are excluded from the transaction price. For contracts with multiple performance obligations, the Corporation allocates the transaction price to each performance obligation on the basis of relative standalone selling price, which is based on the price charged to customers or estimated using the expected cost plus margin method. Revenue related to the initial licensing of patents and technology is recognized when the performance obligation is satisfied. Revenue related to sales-based royalties to which the Corporation expects to be entitled is estimated based on historical sales. The Corporation’s contract liabilities include payments received in advance of performance under long-term contracts for product sales and royalties with remaining contract terms that range up to 18 years. Amounts are recognized in revenue when the performance obligations for the contract are met. The Corporation has rights to additional consideration when product is delivered to the customer. The balance of contract liabilities was $33 million at December 31, 2022 ($35 million at December 31, 2021), of which $2 million ($2 million at December 31, 2021) was included in "Accrued and other current liabilities" and $31 million ($33 million at December 31, 2021) was included in "Other noncurrent obligations" in the consolidated balance sheets. The Corporation disaggregates its revenue from contracts with customers by type of customer (sales to related parties and sales to trade customers) as presented on the consolidated statements of income and believes this disaggregation best depicts the nature, amount, timing and uncertainty of its revenue and cash flows. Substantially all of the product sales are made to the Corporation's parent company, TDCC, and there are no unique economic factors that affect revenue recognition and cash flows associated with these product sales.

DIVESTITURE (Notes)

DIVESTITURE (Notes)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	DIVESTITURES Divestiture of Rail Infrastructure Operations and Assets On July 2, 2020, TDCC entered into a definitive agreement to sell its rail infrastructure operations and assets at certain sites in the U.S. and Canada to an affiliate of Watco Companies, L.L.C. ("Watco affiliate") and the transaction closed September 30, 2020. As part of this transaction, UCC sold certain related operations and assets, including existing agreements to provide rail services to unrelated third parties, located at its sites in St. Charles, Louisiana ("St. Charles"), and Seadrift, Texas, with a net book value of $9 million, to the Watco affiliate. UCC retained ownership of the sites and underlying real property where the divested operations are located. UCC and the Watco affiliate entered into mutual long-term service agreements designed to ensure the continuation of rail services for UCC's existing operations at the impacted sites. The rail-service agreements include variable fees that have an initial term of 25 years. As part of the sale, UCC received proceeds of $95 million from TDCC, subject to customary post-closing adjustments, and recognized a pretax gain on the sale of $86 million, included in "Sundry income (expense) - net" in the consolidated statements of income. See Note 18 for more information on the cash management process. The Corporation evaluated the divestiture of the rail infrastructure operations and assets and determined it did not represent a strategic shift that had a major effect on the Corporation’s operations and financial results and did not qualify as an individually significant component of the Corporation. As a result, the divestiture is not reported as discontinued operations. Divestiture of Marine and Terminal Operations and Assets On September 14, 2020, TDCC entered into a definitive agreement to sell certain U.S. Gulf Coast marine and terminal operations and assets, including certain operations and assets located at UCC's site in St. Charles, to an affiliate of Royal Vopak ("Vopak affiliate"), and the transaction closed December 1, 2020. As part of this transaction, UCC sold certain related operations and assets located at its St. Charles site, including existing agreements to provide marine and terminal services to unrelated third parties, with a net book value of $41 million to the Vopak affiliate. UCC retained ownership of the site and the underlying real property where the divested operations are located. UCC and the Vopak affiliate entered into mutual long-term service agreements designed to ensure the continuation of marine and terminal services for UCC's existing St. Charles operations. The marine and terminal service agreements include fixed and variable fees that have initial terms of up to 25 years. Certain of these agreements contain leases, resulting in operating lease ROU assets and lease liabilities of $38 million. As part of the sale, UCC received proceeds of $226 million from TDCC, subject to customary post-closing adjustments, and recognized a pretax gain on the sale of $185 million, included in "Sundry income (expense) - net" in the consolidated statements of income. See Note 14 for additional information related to leases and Note 18 for additional information on the cash management process. The Corporation evaluated the divestiture of the marine and terminal operations and assets and determined it did not represent a strategic shift that had a major effect on the Corporation’s operations and financial results and did not qualify as an individually significant component of the Corporation. As a result, the divestiture is not reported as discontinued operations.

RESTRUCTURING AND ASSET RELATED

RESTRUCTURING AND ASSET RELATED CHARGES - NET (Notes)	12 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Asset Related Charges - Net	RESTRUCTURING AND ASSET RELATED CHARGES - NET 2020 Restructuring Program On September 30, 2020, the Corporation's Board of Directors (the "Board") approved restructuring actions that were aligned to the structural cost improvement initiatives announced by Dow Inc. in response to the continued economic impact from the pandemic caused by coronavirus disease 2019 ("COVID-19") ("2020 Restructuring Program"). The restructuring program was designed to reduce structural costs and enable the Corporation to further enhance competitiveness while the COVID-19 economic recovery gained traction. This program included workforce cost reductions and actions to rationalize the Corporation's manufacturing assets. These actions were substantially complete at the end of 2021. In 2020, the Corporation recorded pretax restructuring charges of $13 million, consisting of severance and related benefit costs of $9 million and asset write-downs and write-offs of $4 million. In 2021, the Corporation recorded a pretax restructuring charge of $1 million for additional severance and related benefit costs. The Corporation paid $9 million for severance and related benefit costs in 2021 and $1 million in 2022. Cumulative pretax restructuring charges recorded under the 2020 Restructuring Program were $14 million, consisting of severance and related benefit costs of $10 million and asset write-downs and write-offs of $4 million. The Corporation expects to incur additional costs in the future related to its restructuring activities. Future costs are expected to include demolition costs related to closed facilities and restructuring plan implementation costs; these costs will be recognized as incurred. The Corporation also expects to incur additional employee-related costs, including involuntary termination benefits, related to its other optimization activities. These costs cannot be reasonably estimated at this time.

SUPPLEMENTARY INFORMATION (Note

SUPPLEMENTARY INFORMATION (Notes)	12 Months Ended
	Dec. 31, 2022
Supplementary Information [Abstract]
Supplementary Information	SUPPLEMENTARY INFORMATION Sundry Income (Expense) - Net In millions 2022 2021 2020 TDCC administrative and overhead fees 1 $ (65) $ (63) $ (31) Net commission expense - related company 1 (19) (21) (22) Non-operating pension and other postretirement benefit plan net credits (costs) 2 34 32 (20) Net gain on sales of property 3 6 — Gain on divestiture of marine and terminal operations and assets 3 — — 185 Gain on divestiture of rail infrastructure operations and assets 3 — — 86 Loss on early extinguishment of debt 4 — — (19) Other - net (6) (7) (11) Total sundry income (expense) - net $ (53) $ (53) $ 168 1. See Note 18 for additional information. 2. See Note 16 for additional information. 3. See Note 4 for additional information. 4. See Note 12 for additional information. Supplemental Cash Flow Information The following table shows cash paid (refunded) for interest and income taxes for the years ended December 31, 2022, 2021 and 2020: Supplemental Cash Flow Information 2022 2021 2020 In millions Cash paid (refunded) during year for: Interest $ 31 $ 31 $ 41 Income taxes $ 63 $ (62) $ 93

INCOME TAXES (Notes)

INCOME TAXES (Notes)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Geographic Allocation of Income and Provision for Income Taxes In millions 2022 2021 2020 Income (loss) before income taxes Domestic $ 767 $ 531 $ 558 Foreign (1) (2) (1) Income before income taxes $ 766 $ 529 $ 557 Current tax expense (benefit) Federal $ 157 $ (11) $ 82 State and local 9 5 2 Foreign 1 20 — Total current tax expense $ 167 $ 14 $ 84 Deferred tax expense (benefit) Federal $ (2) $ 122 $ 42 State and local 3 23 4 Foreign 4 (5) — Total deferred tax expense $ 5 $ 140 $ 46 Provision for income taxes $ 172 $ 154 $ 130 Net income $ 594 $ 375 $ 427 Reconciliation to U.S. Statutory Rate 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % Unrecognized tax benefits (0.7) 3.0 (0.9) Federal tax accrual adjustments 0.7 — 3.0 State and local tax impact 1.7 5.3 0.2 Other - net (0.2) (0.2) — Effective Tax Rate 1 22.5 % 29.1 % 23.3 % 1. The tax rate for 2022 was unfavorably impacted by state and local tax charges. In 2021, the Corporation recognized additional charges related to state and local jurisdictions and an uncertain tax position related to litigation in a foreign jurisdiction which negatively impacted the effective tax rate. The tax rate for 2020 was unfavorably impacted by an accrual-to-return adjustment. Deferred Tax Balances at Dec 31 2022 2021 In millions Assets Liabilities Assets Liabilities Property $ — $ 154 $ — $ 167 Tax loss and credit carryforwards 26 — 23 — Postretirement benefit obligations 72 — 119 — Other accruals and reserves 293 3 313 6 Inventory 2 — — — Other - net 18 — 18 — Subtotal $ 411 $ 157 $ 473 $ 173 Valuation allowances 1 (15) — (12) — Total $ 396 $ 157 $ 461 $ 173 1. Primarily related to the realization of recorded tax benefits on state tax loss carryforwards from operations in the United States. Operating Loss and Tax Credit Carryforwards at Dec 31 2022 2021 In millions Assets Assets Operating loss carryforwards Expire within 5 years $ 8 $ 11 Expire after 5 years or indefinite expiration 12 7 Total operating loss carryforwards $ 20 $ 18 Tax credit carryforwards Expire within 5 years $ 5 $ 5 Expire after 5 years or indefinite expiration 1 — Total tax credit carryforwards $ 6 $ 5 Total tax loss and tax credit carryforwards $ 26 $ 23 Undistributed earnings of foreign subsidiaries and related companies that are deemed to be permanently invested were zero at December 31, 2022 ($7 million at December 31, 2021). The unrecognized deferred tax liability on those earnings was not material. The following table provides a reconciliation of the Corporation's unrecognized tax benefits: Total Gross Unrecognized Tax Benefits In millions 2022 2021 2020 Total unrecognized tax benefits at Jan 1 $ 8 $ 1 $ 1 Decreases related to positions taken on items from prior years — (1) — Increases related to positions taken on items from prior years — 8 — Total unrecognized tax benefits at Dec 31 $ 8 $ 8 $ 1 Total unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 8 $ 8 $ 1 Total amount of interest and penalties (benefit) recognized in "Provision for income taxes" $ (10) $ 11 $ (5) Total accrual for interest and penalties recognized in the consolidated balance sheets $ 10 $ 12 $ — During 2021, the Corporation recorded an uncertain tax position related to a foreign jurisdiction. The Corporation is included in TDCC's consolidated federal income tax group. Current and deferred tax expenses are calculated for the Corporation as a stand-alone group and are allocated to the group from the consolidated totals, consistent with the TDCC-UCC Tax Sharing Agreement. The Corporation is currently under examination in a number of tax jurisdictions, including the U.S. federal and various state jurisdictions. It is reasonably possible that these examinations may be resolved in the next twelve months. The impact on the Corporation’s results of operations is not expected to be material. The earliest open tax years are 2004 for state income taxes and 2007 for federal income taxes in the United States. Inherent uncertainties exist in estimates of tax contingencies due to changes in tax law, both legislated and concluded through the various jurisdictions' tax court systems. It is the opinion of the Corporation's management that the possibility is remote that costs in excess of those accrued will have a material impact on the Corporation's consolidated financial statements.

INVENTORIES (Notes)

INVENTORIES (Notes)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The following table provides a breakdown of inventories: Inventories at Dec 31 In millions 2022 2021 Finished goods $ 218 $ 238 Work in process 37 33 Raw materials 76 59 Supplies 87 76 Total $ 418 $ 406 Adjustment of inventories to the LIFO basis (162) (156) Total inventories $ 256 $ 250 Inve ntories valued on the LIFO basis, principally U.S. chemicals and plastics product inventories, represented 65 percent o

PROPERTY (Notes)

PROPERTY (Notes)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property	PROPERTY The following table provides a breakdown of property: Property at Dec 31 Estimated Useful Lives (Years) In millions 2022 2021 Land and land improvements 0-25 $ 186 $ 190 Buildings 5-50 403 420 Machinery and equipment 3-20 5,993 6,090 Other property 3-30 383 377 Construction in progress — 139 91 Total property $ 7,104 $ 7,168 The following table provides information regarding depreciation expense and capitalized interest: In millions 2022 2021 2020 Depreciation expense $ 165 $ 167 $ 181 Capitalized interest $ 5 $ 5 $ 6

INVESTMENTS IN RELATED COMPANIE

INVESTMENTS IN RELATED COMPANIES (Notes)	12 Months Ended
	Dec. 31, 2022
Investments in Related Companies [Abstract]
Investments in and Advances to Affiliates, Schedule of Investments	INVESTMENTS IN RELATED COMPANIES The Corporation's ownership interests in related companies at December 31, 2022 and 2021 were as follows: Investments in Related Companies at Dec 31 Ownership Interest Investment Balance In millions 2022 2021 2022 2021 Dow International Holdings Company 5 % 5 % $ 232 $ 232 Dow Quimica Mexicana S.A. de C.V. 14 % 14 % 5 5 Total investments in related companies $ 237 $ 237

INTANGIBLE ASSETS (Notes)

INTANGIBLE ASSETS (Notes)	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	INTANGIBLE ASSETS The following table provides information regarding the Corporation's intangible assets: Intangible Assets at Dec 31 2022 2021 In millions Gross Carrying Amount Accum Amort Net Gross Carrying Amount Accum Amort Net Intangible assets with finite lives: Developed technology $ 33 $ (33) $ — $ 33 $ (33) $ — Software 76 (67) 9 83 (70) 13 Total intangible assets $ 109 $ (100) $ 9 $ 116 $ (103) $ 13 The following table provides information regarding amortization expense: Amortization Expense In millions 2022 2021 2020 Software, included in "Cost of sales" $ 5 $ 6 $ 8 Total estimated amortization expense for the next five fiscal years, including amounts expected to be capitalized, is as follows: Estimated Amortization Expense for Next Five Years In millions 2023 $ 4 2024 $ 3 2025 $ 2 2026 $ 1 2027 $ 1

NOTES PAYABLE AND LONG-TERM DEB

NOTES PAYABLE AND LONG-TERM DEBT (Notes)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Notes Payable and Long-term Debt	NOTES PAYABLE AND LONG-TERM DEBT Notes Payable at Dec 31 In millions 2022 2021 Notes payable to related companies $ 51 $ 30 Notes payable - other 4 — Total notes payable $ 55 $ 30 Year-end average interest rates 1.02 % 1.43 % Long-Term Debt at Dec 31 2022 Average Rate 2022 2021 Average Rate 2021 In millions Promissory notes and debentures: Debentures due 2023 7.875 % $ 129 7.875 % $ 129 Debentures due 2025 6.79 % 12 6.79 % 12 Debentures due 2025 7.50 % 113 7.50 % 113 Debentures due 2096 7.75 % 135 7.75 % 135 Finance lease obligations 1 7 9 Unamortized debt discount and issuance costs (2) (3) Long-term debt due within one year (132) (3) Total long-term debt $ 262 $ 392 1. See Note 14 for additional information. Maturities of Long-Term Debt for Next Five Years at Dec 31, 2022 In millions 2023 $ 132 2024 $ 3 2025 $ 127 2026 $ — 2027 $ — 2020 Activity In 2020, TDCC concluded a cash tender offer that included $83 million aggregate principal amount of certain notes issued by the Corporation. As a result of the tender offer, the Corporation retired $46 million of 7.875 percent notes due 2023 and $37 million of 7.50 percent notes due 2025 and recognized a $19 million loss on the early extinguishment of debt, included in "Sundry income (expense) - net" in the consolidated statements of income. Letters of Credit The Corporation utilizes letters of credit to support commitments made in the ordinary course of business. While the terms and amounts of letters of credit change, UCC generally has approximately $6 million of o utstanding letters of credit at any given time. Debt Covenants and Default Provisions

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Notes)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENCIES 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 December 31, 2022, the Corporation had accrued obligations of $183 million for probable environmental remediation and restoration costs ($148 million at December 31, 2021), including $36 million for the remediation of Superfund sites ($23 million at December 31, 2021). This is management's best estimate of the costs for remediation and restoration with respect to environmental matters for which the Corporation 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 Corporation's results of operations, financial condition and cash flows. It is the opinion of the Corporation's management, however, that the possibility is remote that costs in excess of the range disclosed will have a material impact on the Corporation's results of operations, financial condition and cash flows. Inherent uncertainties exist in these estimates primarily due to unknown environmental 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 the environmental liability. The following table summarizes the activity in the Corporation's accrued obligations for environmental matters for the years ended December 31, 2022 and 2021: Accrued Liability for Environmental Matters In millions 2022 2021 Balance at Jan 1 $ 148 $ 133 Accrual adjustment 78 47 Payments against reserve (42) (31) Foreign currency impact (1) (1) Balance at Dec 31 $ 183 $ 148 The amounts charged to income on a pretax basis related to environmental remediation totaled $ 72 million 47 million 49 million Litigation Asbestos-Related Matters Introduction The Corporation is and has been involved in a large number of asbestos-related suits filed primarily in state courts during the past four decades. These suits principally allege personal injury resulting from exposure to asbestos-containing products and frequently seek both actual and punitive damages. The alleged claims primarily relate to products that UCC sold in the past, alleged exposure to asbestos-containing products located on UCC’s premises and UCC’s responsibility for asbestos suits filed against a former UCC subsidiary, Amchem Products, Inc. ("Amchem"). In many cases, plaintiffs are unable to demonstrate that they have suffered any compensable loss as a result of such exposure, or that injuries incurred in fact resulted from exposure to the Corporation’s products. The Corporation expects more asbestos-related suits to be filed against UCC and Amchem in the future, and will aggressively defend or reasonably resolve, as appropriate, both pending and future claims. Estimating the Asbestos-Related Liability The Corporation has engaged Ankura Consulting Group, LLC ("Ankura") to perform periodic studies to estimate the undiscounted cost of disposing of pending and future claims against UCC and Amchem through the terminal year of 2049, including a reasonable forecast of future defense and processing costs. Each October, the Corporation requests Ankura to review its historical asbestos claim and resolution activity through the third quarter of the current year, including asbestos-related defense and processing costs, to determine the appropriateness of updating the most recent study. At each balance sheet date, the Corporation also compares current asbestos claim and resolution activity, including asbestos-related defense and processing costs, to the results of the most recent Ankura study to determine whether the accrual continues to be appropriate. In December 2020, Ankura completed a study of the Corporation's historical asbestos claim and resolution activity through September 30, 2020, including asbestos-related defense and processing costs, and provided estimates for the undiscounted cost of disposing of pending and future claims against UCC and Amchem through the terminal year of 2049. Based on the study and the Corporation's internal review process, it was determined that no adjustment to the accrual was required. In December 2021, Ankura stated that an update of its December 2020 study would not provide a more likely estimate of future events than the estimate reflected in the study and, therefore, the estimate in the study remained applicable. Based on the Corporation's internal review process and Ankura's response, the Corporation determined that no change to the accrual was required. At December 31, 2021, the asbestos-related liability for pending and future claims against UCC and Amchem, including future asbestos-related defense and processing costs, was $1,016 million and approximately 25 percent of the recorded liability related to pending claims and approximately 75 percent related to future claims. In December 2022, Ankura completed a study of the Corporation's historical asbestos claim and resolution activity through September 30, 2022, including asbestos-related defense and processing costs, and provided estimates for the undiscounted cost of disposing of pending and future claims against UCC and Amchem through the terminal year of 2049. Based on the study and the Corporation's internal review process, it was determined that no adjustment to the accrual was required. At December 31, 2022, the asbestos-related liability for pending and future claims against UCC and Amchem, including future asbestos-related defense and processing costs, was $947 million, and approximately 23 percent of the recorded liability related to pending claims and approximately 77 percent related to future claims. Summary The Corporation's management believes the amounts recorded for the asbestos-related liability, including defense and processing costs, reflect reasonable and probable estimates of the liability based on current, known facts. However, future events, such as the number of new claims to be filed and/or received each year, the average cost of defending and disposing of each such claim, as well as the numerous uncertainties surrounding asbestos litigation in the United States over a significant period of time, could cause the actual costs for the Corporation to be higher or lower than those projected or those recorded. Any such event could result in an increase or decrease in the recorded liability. Because of the uncertainties described above, the Corporation cannot estimate the full range of the cost of resolving pending and future asbestos-related claims facing UCC and Amchem. As a result, it is reasonably possible that an additional cost of disposing of asbestos-related claims, including future defense and processing costs, could have a material impact on the Corporation's results of operations and cash flows for a particular period and on the consolidated financial position. Other Litigation The Corporation is also involved in a number of legal proceedings and claims with both private and governmental parties. These cover a wide range of matters, including, but not limited to: product liability; trade regulation; governmental tax and regulatory disputes; health, safety and environmental matters; employment matters; patent infringement; contracts; and commercial litigation. While it is not possible at this time to determine with certainty the ultimate outcome of any of the legal proceedings and claims referred to in this filing, management believes that the possibility is remote that the aggregate of all such other claims and lawsuits will have a material adverse impact on the results of operations, cash flows and financial position of the Corporation. Purchase Commitments The Corporation has outstanding purchase commitments and various commitments for take-or-pay or throughput agreements. The Corporation was not aware of any purchase commitments that were negotiated as part of a financing arrangement for the facilities that will provide the contracted goods or services or for the costs related to those goods or services at December 31, 2022 and 2021.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS (Notes)	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in each component of AOCL for the years ended December 31, 2022, 2021 and 2020 were as follows: Accumulated Other Comprehensive Loss 2022 2021 2020 In millions Cumulative Translation Adjustment Beginning balance $ (53) $ (55) $ (56) Unrealized gains (losses) on foreign currency translation — 2 — (Gains) losses reclassified from AOCL to net income 1 (1) — 1 Other comprehensive income (loss), net of tax (1) 2 1 Ending balance $ (54) $ (53) $ (55) Pension and Other Postretirement Benefits Beginning balance $ (1,498) $ (1,715) $ (1,609) Gains (losses) arising during the period 96 180 (242) Tax (expense) benefit (22) (43) 57 Net gains (losses) arising during the period 74 137 (185) Amortization of net loss and prior service credit reclassified from AOCL to net income 2 98 104 103 Tax expense (benefit) 3 (22) (24) (24) Net loss and prior service credit reclassified from AOCL to net income 76 80 79 Other comprehensive income (loss), net of tax 150 217 (106) Ending balance $ (1,348) $ (1,498) $ (1,715) Total AOCL ending balance $ (1,402) $ (1,551) $ (1,770) 1. Reclassified to "Sundry income (expense) - net." 2. These AOCL components are included in the computation of net periodic benefit cost of the Corporation's defined benefit pension and other postretirement benefit plans. See Note 16 for additional information. 3. Reclassified to "Provision for income taxes."

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Notes)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS Pension Plans The Corporation has a defined benefit pension plan that covers substantially all employees in the United States. Benefits are based on length of service and the employee's three highest consecutive years of compensation. Employees hired on or after January 1, 2008, earn benefits that are based on a set percentage of annual pay, plus interest. The Corporation also has a non-qualified supplemental pension plan. On March 4, 2021, TDCC announced changes to the design of its U.S. tax-qualified and non-qualified pension plans, including the plans of the Corporation (the “UCC Plans”). Effective December 31, 2023 (“Effective Date”), the Corporation will freeze the pensionable compensation and credited service amounts used to calculate pension benefits for employees who participate in the UCC Plans. As a result, at the Effective Date and subject to any bargaining obligations required by law, active participants of the UCC Plans will not accrue additional benefits for future service and compensation. In connection with these plan amendments, the Corporation remeasured the UCC Plans effective February 28, 2021, which resulted in a pretax actuarial gain of $87 million, reflected in other comprehensive income and inclusive of a $14 million reduction in the projected benefit obligation resulting from the plan amendments, and a pretax curtailment gain of $7 million, recognized in the first quarter of 2021. The Corporation's funding policy is to contribute to the plan when pension laws or economics either require or encourage funding. In 2022, UCC contributed $3 million to its pension plans, including contributions to fund benefit payments for its non-qualified supplemental plan. UCC expects to contribute approximately $2 million to its pension plans in 2023. The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs are provided below: Pension Plan Assumptions Benefit Obligations Net Periodic Benefit Costs 2022 2021 2022 2021 2020 Discount rate 5.60 % 2.94 % 2.94 % 2.86 % 3.29 % Interest crediting rate for applicable benefits 4.50 % 4.50 % 4.50 % 4.50 % 4.50 % Rate of compensation increase 4.25 % 4.25 % 4.25 % 4.25 % 4.25 % Expected return on plan assets 6.80 % 6.80 % 6.80 % Other Postretirement Benefit Plans The Corporation provides certain health care and life insurance benefits to retired U.S. employees and survivors. The plan provides health care benefits, including hospital, physicians' services, drug and major medical expense coverage and life insurance benefits. The Corporation and the retiree share the cost of these benefits, with the Corporation portion increasing as the retiree has increased years of credited service, although there is a cap on the Corporation portion. The Corporation has the ability to change these benefits at any time. Employees hired after January 1, 2008, are not covered under this plan. The Corporation funds most of the cost of these health care and life insurance benefits as incurred. In 2022, UCC did not make any contributions to its other postretirement benefit plan trust. Likewise, UCC does not expect to contribute assets to its other postretirement benefit plan trust in 2023. The weighted-average assumptions used to determine other postretirement benefit plan obligations and net periodic benefit costs for the plan are provided in the following table: Other Postretirement Benefit Plan Assumptions Benefit Obligations at Dec 31 Net Periodic Benefit Costs for the Year Ended 2022 2021 2022 2021 2020 Discount rate 5.56 % 2.84 % 2.84 % 2.34 % 3.17 % Health care cost trend rate assumed for next year 6.57 % 6.50 % 6.50 % 6.75 % 6.25 % Rate to which the cost trend rate is assumed to decline (the ultimate health care cost trend rate) 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Year that the rate reaches the ultimate health care cost trend rate 2033 2028 2028 2028 2025 Assumptions The Corporation determines the expected long-term rate of return on plan assets by performing a detailed analysis of key economic and market factors driving historical returns for each asset class and formulating a projected return based on factors in the current environment. Factors considered include, but are not limited to, inflation, real economic growth, interest rate yield, interest rate spreads, and other valuation measures and market metrics. The expected long-term rate of return for each asset class is then weighted based on the strategic asset allocation approved by the governing body for each plan. The Corporation's historical experience with the pension fund asset performance is also considered. The Corporation uses the spot rate approach to determine the discount rate utilized to measure the service cost and interest cost components of net periodic pension and other postretirement benefit costs. Under the spot rate approach, the Corporation calculates service cost and interest cost by applying individual spot rates from the Willis Towers Watson U.S. RATE:Link 60-90 corporate yield curve (based on 60th to 90th percentile high-quality corporate bond yields) to the separate expected cash flow components of service cost and interest cost. The discount rates utilized to measure the pension and other postretirement obligations of the plans were based on the yield on high-quality corporate fixed income investments at the measurement date. Future expected actuarially determined cash flows for the plans are individually discounted at the spot rates under the Willis Towers Watson U.S. RATE:Link 60-90 corporate yield curve (based on 60th to 90th percentile high-quality corporate bond yields) to arrive at the plan’s obligations as of the measurement date. The Corporation's mortality assumption used for the U.S. plans is a benefit-weighted version of the Society of Actuaries' RP-2014 base table with future rates of mortality improvement based on a modified version of the assumptions used in the Social Security Administration's 2021 trustees report. Summarized information on the Corporation's pension and other postretirement benefit plans is as follows: Change in Projected Benefit Obligations, Plan Assets and Funded Status for All Plans Defined Benefit Other Postretirement Benefit Plan In millions 2022 2021 2022 2021 Change in projected benefit obligations: Benefit obligations at beginning of year $ 3,940 $ 4,229 $ 174 $ 220 Service cost 37 26 1 1 Interest cost 91 80 3 3 Actuarial changes in assumptions and experience (826) (112) (48) (37) Benefits paid (265) (263) (2) (13) Curtailments/other 1 (117) (20) — — Benefit obligations at end of year $ 2,860 $ 3,940 $ 128 $ 174 Change in plan assets: Fair value of plan assets at beginning of year $ 3,611 $ 3,095 $ — $ — Actual return on plan assets (556) 236 — — Employer contributions 3 549 — — Asset transfers (8) (8) — — Benefits paid (265) (263) — — Other 2 (106) 2 — — Fair value of plan assets at end of year $ 2,679 $ 3,611 $ — $ — Funded status at end of year $ (181) $ (329) $ (128) $ (174) Net amounts recognized in the consolidated balance sheets at Dec 31: Accrued and other current liabilities $ (2) $ (2) $ (12) $ (13) Pension and other postretirement benefits - noncurrent (179) (327) (116) (161) Net amount recognized $ (181) $ (329) $ (128) $ (174) Pretax amounts recognized in accumulated other comprehensive loss at Dec 31: Net loss (gain) $ 1,852 $ 2,007 $ (124) $ (84) Prior service credit — (1) — — Pretax balance in accumulated other comprehensive loss at end of year $ 1,852 $ 2,006 $ (124) $ (84) 1. The 2022 impact primarily relates to the transfer of benefit obligations through the purchase of an annuity contract from an insurance company. The 2021 impact primarily relates to the freeze of pensionable compensation and credited service amounts for employees that participate in the UCC Plans. 2. The 2022 impact relates to the purchase of an annuity contract associated with the transfer of benefit obligations to an insurance company. A significant component of the overall decrease in the Corporation's benefit obligation for the year ended December 31, 2022 was due to the change in weighted-average discount rates, which increased from 2.94 percent at December 31, 2021 to 5.60 percent at December 31, 2022. A significant component of the overall decrease in the Corporation's benefit obligation for the year ended December 31, 2021 was due to the change in weighted-average discount rates, which increased from 2.53 percent at December 31, 2020 to 2.94 percent at December 31, 2021. The accumulated benefit obligation for all defined benefit pension plans was $2.9 billion at December 31, 2022 and $3.9 billion at December 31, 2021. Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets at Dec 31 In millions 2022 2021 Accumulated benefit obligations $ 2,859 $ 3,935 Fair value of plan assets $ 2,679 $ 3,611 Pension Plans with Projected Benefit Obligations in Excess of Plan Assets at Dec 31 2022 2021 In millions Projected benefit obligations $ 2,860 $ 3,940 Fair value of plan assets $ 2,679 $ 3,611 Net Periodic Benefit Cost (Credit) for All Plans for the Year Ended Dec 31 Defined Benefit Pension Plans Other Postretirement Benefit Plan In millions 2022 2021 2020 2022 2021 2020 Net Periodic Benefit Cost (Credit): Service cost $ 37 $ 26 $ 35 $ 1 $ 1 $ 1 Interest cost 91 80 112 3 3 5 Expected return on plan assets (226) (219) (200) — — — Amortization of prior service credit (1) (1) (1) — — — Amortization of net (gain) loss 108 116 110 (9) (4) (6) Curtailment gain 1 — (7) — — — — Net periodic benefit cost (credit) $ 9 $ (5) $ 56 $ (5) $ — $ — Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: Net (gain) loss $ (47) $ (144) $ 240 $ (49) $ (36) $ 2 Amortization of prior service credit 1 1 1 — — — Amortization of net gain (loss) (108) (116) (110) 9 4 6 Curtailment gain 1 — 7 — — — — Total recognized in other comprehensive (income) loss $ (154) $ (252) $ 131 $ (40) $ (32) $ 8 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (145) $ (257) $ 187 $ (45) $ (32) $ 8 1. The 2021 impact relates primarily to the freeze of pensionable compensation and credited service amounts for employees that participate in the UCC Plans. Net periodic benefit cost (credit), other than the service cost component, is included in "Sundry income (expense) - net" in the consolidated statements of income. See Note 6 for additional information. Estimated Future Benefit Payments The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table: Estimated Future Benefit Payments at Dec 31, 2022 Defined Benefit Pension Plans Other Postretirement Benefit Plan In millions 2023 $ 265 $ 12 2024 240 12 2025 236 12 2026 233 12 2027 229 12 2028 through 2032 1,071 49 Total $ 2,274 $ 109 Plan Assets Plan assets consist primarily of equity and fixed income securities of U.S. and foreign issuers, and include alternative investments, such as real estate, private equity and other absolute return strategies. Plan assets totaled $2.7 billion at December 31, 2022 and $3.6 billion at December 31, 2021 and included no directly held common stock of Dow Inc. The Corporation's investment strategy for plan assets is to manage the assets in relation to the liability in order to pay retirement benefits to plan participants over the life of the plans. This is accomplished by identifying and managing the exposure to various market risks, diversifying investments across various asset classes and earning an acceptable long-term rate of return consistent with an acceptable amount of risk, while considering the liquidity needs of the plan. The plan is permitted to use derivative instruments for investment purposes, as well as for hedging the underlying asset and liability exposures and rebalancing the asset allocation. The plan uses value-at-risk, stress testing, scenario analysis and Monte Carlo simulation to monitor and manage both the risk within the portfolios and the surplus risk of the plan. Equity securities primarily include investments in large- and small-cap companies located in both developed and emerging markets around the world. Fixed income securities are primarily U.S. dollar based and include U.S. treasuries and investment grade corporate bonds of companies diversified across industries. Alternative investments primarily include investments in real estate, private equity and absolute return strategies. Other significant investment types include various insurance contracts and interest rate, equity, commodity and foreign exchange derivative investments and hedges. The Corporation mitigates the credit risk of investments by establishing guidelines with investment managers that limit investment in any single issue or issuer to an amount that is not material to the portfolio being managed. These guidelines are monitored for compliance both by the Corporation and the external managers. Credit risk related to derivative activity is mitigated by utilizing multiple counterparties, collateral support agreements, and centralized clearing where appropriate. A short-term investment money market fund is utilized as the sweep vehicle for the pension plan, which from time to time can represent a significant investment. The weighted-average target allocation for plan assets of the Corporation's pension plan is summarized as follows: Target Allocation for Plan Assets at Dec 31, 2022 Target Allocation Asset Category Equity securities 23 % Fixed income securities 45 Alternative investments 27 Other 5 Total 100 % Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Corporation believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. For pension plan assets classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs. For pension plan assets classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs such as foreign exchange rates, commodity prices, swap rates, interest rates, and implied volatilities obtained from various market sources. For other assets for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models. For pension plan assets classified as Level 3 measurements, total fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity for the investment. Certain pension plan assets are held in funds where fair value is based on an estimated net asset value per share (or its equivalent) as of the most recently available fund financial statements which are received on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made where appropriate to arrive at an estimated net asset value per share at the measurement date. These funds are not classified within the fair value hierarchy. The following table summarizes the bases used to measure the Corporation’s pension plan assets at fair value for the years ended December 31, 2022 and 2021: Basis of Fair Value Measurements Dec 31, 2022 Dec 31, 2021 In millions Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 224 $ 172 $ 52 $ — $ 289 $ 251 $ 38 $ — Equity securities: U.S. equity securities $ 288 $ 288 $ — $ — $ 431 $ 431 $ — $ — Non - U.S. equity securities 255 244 11 — 405 378 26 1 Total equity securities $ 543 $ 532 $ 11 $ — $ 836 $ 809 $ 26 $ 1 Fixed income securities: Debt - government-issued $ 665 $ 1 $ 664 $ — $ 806 $ 4 $ 802 $ — Debt - corporate-issued 442 1 441 — 796 146 650 — Debt - asset-backed 20 — 20 — 17 — 17 — Total fixed income securities $ 1,127 $ 2 $ 1,125 $ — $ 1,619 $ 150 $ 1,469 $ — Alternative investments: Private markets $ 2 $ — $ — $ 2 $ 2 $ — $ — $ 2 Derivatives - asset position 5 — 5 — 30 — 30 — Derivatives - liability position (16) — (16) — (12) — (12) — Total alternative investments $ (9) $ — $ (11) $ 2 $ 20 $ — $ 18 $ 2 Other investments $ 3 $ 2 $ 1 $ — $ 1 $ 1 $ — $ — Subtotal $ 1,888 $ 708 $ 1,178 $ 2 $ 2,765 $ 1,211 $ 1,551 $ 3 Investments measured at net asset value: Hedge funds $ 142 $ 197 Private markets 411 414 Real estate 240 237 Total investments measured at net asset value $ 793 $ 848 Items to reconcile to fair value of plan assets: Pension trust receivables 1 $ 4 $ 33 Pension trust payables 2 (6) (35) Total $ 2,679 $ 3,611 1. Primarily receivables for investment securities sold. 2. Primarily payables for investment securities purchased. The following table summarizes the changes in fair value of Level 3 pension plan assets for the years ended December 31, 2022 and 2021: Fair Value Measurement of Level 3 Pension Plan Assets Equity Securities Alternative Investments Total In millions Balance at Jan 1, 2021 $ 1 $ 6 $ 7 Actual return on plan assets: Relating to assets held at Dec 31, 2021 — (4) (4) Balance at Dec 31, 2021 $ 1 $ 2 $ 3 Actual return on plan assets: Relating to assets held at Dec 31, 2022 (1) (2) (3) Purchases, sales and settlements — 2 2 Balance at Dec 31, 2022 $ — $ 2 $ 2 Defined Contribution Plans In addition to the qualified defined benefit pension plan, U.S. employees may participate in defined contribution plans by contributing a portion of their compensation, which is partially matched by the Corporation. Expense recognized for all defined contribution plans was $12 million in 2022, $8 million in 2021 and $7 million in 2020.

LEASES (Notes)

LEASES (Notes)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lessee, Operating And Finance Leases	LEASES Operating lease ROU assets are included in "Operating lease right-of-use assets" and finance lease ROU assets are included in "Net property" in the consolidated balance sheets. With respect to lease liabilities, operating lease liabilities are included in "Operating lease liabilities - current" and "Operating lease liabilities - noncurrent," and finance lease liabilities are included in "Long-term debt due within one year" and "Long-Term Debt" in the consolidated balance sheets. The Corporation routinely leases product and utility production facilities, sales and administrative offices, warehouses and tanks for product storage, motor vehicles, railcars, computers, office machines and equipment. Some leases contain renewal provisions, purchase options and escalation clauses. The terms for these leased assets vary depending on the lease agreement. These leased assets have remaining lease terms of up to 18 years. The Corporation's lease agreements do not contain any material residual value guarantees or restrictive covenants. The components of lease cost for operating and finance leases for the years ended December 31, 2022, 2021 and 2020 were as follows: Lease Cost 2022 2021 2020 In millions Operating lease cost $ 25 $ 23 $ 20 Short-term lease cost 31 28 22 Variable lease cost 19 39 8 Amortization of right-of-use assets - finance 3 3 2 Total lease cost $ 78 $ 93 $ 52 The following table provides supplemental cash flow and other information related to leases: Other Lease Information 2022 2021 2020 In millions Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 25 $ 23 $ 19 Financing cash flows for finance leases $ 3 $ 3 $ 2 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2 $ 15 $ 48 Finance leases $ 1 $ 5 $ 3 The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at December 31, 2022 and 2021: Lease Position Balance Sheet Classification Dec 31, 2022 Dec 31, 2021 In millions Assets Operating lease assets Operating lease right-of-use assets $ 107 $ 122 Finance lease assets Property 20 19 Finance lease amortization Accumulated depreciation (13) (11) Total lease assets $ 114 $ 130 Liabilities Current Operating Operating lease liabilities - current $ 21 $ 20 Finance Long-term debt due within one year 3 3 Noncurrent Operating Operating lease liabilities - noncurrent 87 103 Finance Long-Term Debt 4 6 Total lease liabilities $ 115 $ 132 The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at December 31, 2022 and 2021 are provided below: Lease Term and Discount Rate Dec 31, 2022 Dec 31, 2021 Weighted-average remaining lease term Operating leases 6.3 years 7.1 years Finance leases 2.5 years 3.1 years Weighted-average discount rate Operating leases 3.43 % 3.17 % Finance leases 2.33 % 2.53 % The following table provides the maturities of lease liabilities at December 31, 2022: Maturities of Lease Liabilities Dec 31, 2022 In millions Operating Leases Finance Leases 2023 $ 24 $ 3 2024 23 3 2025 21 2 2026 20 — 2027 9 — 2028 and thereafter 22 — Total future undiscounted lease payments $ 119 $ 8 Less: Imputed interest 11 1 Total present value of lease liabilities $ 108 $ 7 At December 31, 2022, the Corporation had no additional leases for assets that have not yet commenced.

FAIR VALUE MEASUREMENTS (Notes)

FAIR VALUE MEASUREMENTS (Notes)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Corporation's financial instruments are classified as Level 2 measurements. For assets and liabilities classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability, or by using observable market data points of similar, more liquid securities to imply the price. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. Assets that are measured using significant other observable inputs are primarily valued by reference to quoted prices of similar assets in active markets, adjusted for any terms specific to that asset. For all other assets for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models. There were no transfers between Levels 1 and 2 in the years ended December 31, 2022 and 2021. The following table summarizes the fair value of the Corporation's financial instruments at December 31, 2022 and 2021: Fair Value of Financial Instruments 2022 2021 In millions Cost Gain Loss Fair Value Cost Gain Loss Fair Value Cash equivalents 1 $ 10 $ — $ — $ 10 $ 10 $ — $ — $ 10 Long-term debt including debt due within one year $ (394) $ — $ (29) $ (423) $ (395) $ — $ (133) $ (528) 1. Money market fund is included in "Cash and cash equivalents" in the consolidated balance sheets and held at amortized cost, which approximates fair value. Cost approximates fair value for all other financial instruments.

RELATED PARTY TRANSACTIONS (Not

RELATED PARTY TRANSACTIONS (Notes)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	RELATED PARTY TRANSACTIONS Product and Services Agreements The Corporation sells its products to TDCC to simplify the customer interface process. Products are sold to and purchased from TDCC at prices determined in accordance with the terms of an agreement between UCC and TDCC. After each quarter, the Corporation and TDCC analyze the pricing used for the sales in that quarter and reach agreement on any necessary adjustments, at which point the prices are final. The Corporation also procures certain commodities and raw materials through a TDCC subsidiary and pays a commission to that TDCC subsidiary based on the volume and type of commodities and raw materials purchased. The Corporation also has a master services agreement with TDCC, whereby TDCC provides services including, but not limited to: accounting; legal; treasury (investments, cash management, risk management, insurance); procurement; human resources; environmental; health and safety; and business management for UCC. Under the master services agreement with TDCC, general administrative and overhead type services that TDCC routinely allocates to various businesses are charged to UCC. The master services agreement cost allocation basis is headcount and includes a 10 percent service fee. The following table summarizes UCC’s transactions with TDCC and a TDCC subsidiary related to product and services agreements for the years ended December 31, 2022, 2021 and 2020: Product and Services Agreements Transactions 2022 2021 2020 Income Statement In millions Classification TDCC Subsidiary: Commodity and raw materials purchases 1 $ 1,909 $ 1,915 $ 1,021 Cost of sales Commission expense $ 19 $ 21 $ 22 Sundry income (expense) - net TDCC: General administrative and overhead type services and service fee 2 $ 65 $ 63 $ 31 Sundry income (expense) - net Activity-based costs $ 89 $ 74 $ 87 Cost of sales 1. Period-end balances on hand are included in inventory. The increase in purchase costs from 2020 was primarily due to higher feedstock and energy costs. 2. The increase in services and fees from 2020 resulted from TDCC's periodic review of the actual cost of services provided to UCC in accordance with related agreements. Management believes the method used for determining expenses charged by TDCC is reasonable. TDCC provides these services by leveraging its centralized functional service centers to provide services at a cost that management believes provides an advantage to the Corporation. The monitoring and execution of risk management policies related to interest rate and foreign currency risks, which are based on TDCC’s risk management philosophy, are provided as a service to UCC. The Corporation incurred asset losses and other costs and experienced lost sales and margins due to severe weather events that impacted the U.S. Gulf Coast in 2021. These costs and losses are covered, in part, by an insurance program purchased by TDCC from its insurance affiliate. In December 2021, the Corporation recorded an insurance recovery of $114 million from TDCC for the Corporation’s share of covered losses and incurred costs, included in "Cost of sales" in the consolidated statements of income and included in “Accounts receivable - Related companies” in the consolidated balance sheets at December 31, 2021. Proceeds from this insurance recovery were received in 2022. Tax Sharing Agreement In accordance with the Tax Sharing Agreement between the Corporation and TDCC, the Corporation makes payments to TDCC to cover the Corporation's estimated federal tax liability; payments were $155 million in 2022, $42 million in 2021 and $100 million in 2020. Cash Management As part of TDCC’s cash management process, UCC is a party to revolving loans with TDCC that mature December 30, 2023 and have interest rates based on alternative reference rates, effective January 1, 2022, and based on LIBOR (London Interbank Offered Rate) in prior periods. At December 31, 2022, the Corporation had a note receivable of $958 million ($988 million at December 31, 2021) from TDCC under a revolving loan agreement. The Corporation may draw from this note receivable in support of its daily working capital requirements and, as such, the net effect of cash inflows and outflows under this revolving loan agreement is presented in the consolidated statements of cash flows as an operating activity. The Corporation also has a separate revolving credit agreement with TDCC that allows the Corporation to borrow or obtain credit enhancements up to an aggregate of $1 billion. TDCC may demand repayment with a 30-day written notice to the Corporation, subject to certain restrictions. A related collateral agreement provides for the replacement of certain existing pledged assets, primarily equity interests in various subsidiaries and joint ventures, with cash collateral. At December 31, 2022, $942 million was available under the revolving credit agreement ($935 million at December 31, 2021). The cash collateral was reported as "Noncurrent receivables from related companies" in the consolidated balance sheets. Dividends and Other Equity Transactions On a quarterly basis, the Corporation's Board reviews and determines if there will be a dividend distribution to its parent company and sole shareholder, TDCC. The Board takes into consideration the level of earnings and cash flows, among other factors, in determining the amount of the dividend distribution. The following table summarizes cash dividends declared and paid to TDCC for the years ended 2022, 2021 and 2020: Cash Dividends Declared and Paid 2022 2021 2020 In millions Cash dividends declared and paid $ 1,063 $ 288 $ 362

BUSINESS AND GEOGRAPHIC AREAS (

BUSINESS AND GEOGRAPHIC AREAS (Notes)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Business and Geographic Regions	BUSINESS AND GEOGRAPHIC REGIONS TDCC conducts its worldwide operations through principal product groups, and the Corporation's business activities comprise components of TDCC's principal product groups rather than stand-alone operations. The Corporation sells substantially all of its products to TDCC in order to simplify the customer interface process, at prices determined in accordance with the terms of an agreement between UCC and TDCC. Because there are no separate reportable business segments for the Corporation and no detailed business information is provided to a chief operating decision maker regarding the Corporation's stand-alone operations, the Corporation's results are reported as a single operating segment. Sales are attributed to geographic regions based on customer location; long-lived assets are attributed to geographic regions based on asset location. Sales to external customers and long-lived assets by geographic region were as follows: Geographic Region Information United States Asia Pacific Rest of World Total In millions 2022 Sales to external customers 1 $ 182 $ 3 $ 6 $ 191 Long-lived assets $ 1,149 $ 22 $ 11 $ 1,182 2021 Sales to external customers 1 $ 139 $ 4 $ 11 $ 154 Long-lived assets $ 1,169 $ 24 $ 15 $ 1,208 2020 Sales to external customers 1 $ 95 $ 23 $ 11 $ 129 Long-lived assets $ 1,226 $ 20 $ 19 $ 1,265 1. Of total sales to external customers, sales in Malaysia were approximately 1 percent in 2022, 2 percent in 2021 and 18 percent in 2020, and are included in Asia Pacific.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation Except as otherwise indicated by the context, the terms "Corporation" and "UCC" as used herein mean Union Carbide Corporation and its consolidated subsidiaries. The accompanying consolidated financial statements of the Corporation were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which the Corporation exercises control and, when applicable, entities for which the Corporation has a controlling financial interest. Investments in nonconsolidated affiliates (20-50 percent owned companies, joint ventures and partnerships) are accounted for using the equity method. The Corporation is a wholly owned subsidiary of The Dow Chemical Company ("TDCC"). In accordance with the accounting guidance for earnings per share, the presentation of earnings per share is not required in financial statements of wholly owned subsidiaries. TDCC conducts its worldwide operations through global businesses. The Corporation’s business activities comprise components of TDCC’s global businesses rather than stand-alone operations. Because there are no separate reportable business segments for UCC under the accounting guidance related to segment reporting and no detailed business information is provided to a chief operating decision maker regarding the Corporation’s stand-alone operations, the Corporation’s results are reported as a single operating segment. Intercompany transactions and balances are eliminated in consolidation. Transactions with the Corporation’s parent company, TDCC, and other subsidiaries of TDCC, have been reflected as related company transactions in the consolidated financial statements. See Note 18 for additional information.
Use of Estimates in Financial Statement Preparation	Use of Estimates in Financial Statement Preparation The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Corporation's consolidated financial statements include amounts that are based on management's best estimates and judgments. Actual results could differ from those estimates.
Asbestos-Related Matters	Asbestos-Related Matters Accruals for asbestos-related matters, including defense and processing costs, are recorded based on an analysis of claim and resolution activity, defense spending and pending and future claims. These accruals are assessed at each balance sheet date to determine if the asbestos-related liability remains appropriate. Accruals for asbestos-related matters are included in the consolidated balance sheets in "Asbestos-related liabilities - current" and "Asbestos-related liabilities - noncurrent." See Note 13 for additional information.
Legal Costs	Legal Costs The Corporation expenses legal costs as incurred, with the exception of defense and processing costs associated with asbestos-related matters.
Foreign Currency Translation	Foreign Currency Translation While the Corporation's consolidated subsidiaries are primarily based in the United States, the Corporation has small subsidiaries in Asia Pacific and the rest of the world. For those subsidiaries, the local currency has been primarily used as the functional currency. Translation gains and losses of those operations that use local currency as the functional currency are included in the consolidated balance sheets in "Accumulated other comprehensive loss" ("AOCL"). Where the U.S. dollar is used as the functional currency, foreign currency translation gains and losses are reflected in income.
Environmental Matters	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. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the consolidated balance sheets in "Accrued and other current liabilities" and "Other noncurrent obligations" at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the consolidated balance sheets in "Accounts receivable - Other." Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include time deposits and investments with maturities of three months or less at the time of purchase.
Financial Instruments	Financial Instruments The Corporation calculates the fair value of financial instruments using quoted market prices when available. When quoted market prices are not available for financial instruments, the Corporation uses standard pricing models with market-based inputs that take into account the present value of estimated future cash flows.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. The method of determining cost for each subsidiary varies among last-in, first-out ("LIFO"); first-in, first-out ("FIFO"); and average cost, and is used consistently from year to year.
Property	Property Land, buildings and equipment are carried at cost less accumulated depreciation. Property under finance lease agreements is carried at the present value of lease payments over the lease term less accumulated amortization. Depreciation is based on the estimated service lives of depreciable assets and is calculated using the straight-line method. Fully depreciated assets are retained in property and accumulated depreciation accounts until they are removed from service. In the case of disposals, assets and related accumulated depreciation are removed from the accounts, and the net amounts, less proceeds from disposal, are included in income.
Impairment and Disposal of Long-Lived Assets	Impairment and Disposal of Long-Lived Assets The Corporation evaluates long-lived assets (property, finite-lived intangible assets and right-of-use assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When undiscounted future cash flows are not expected to be sufficient to recover an asset's carrying amount, the asset is written down to its fair value based on bids received from third parties or a discounted cash flow analysis based on market participant assumptions. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation/amortization is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value, and depreciation/amortization is recognized over the remaining useful life of the assets.
Other Intangible Assets	Other Intangible Assets Finite-lived intangible assets, such as developed technology and software, are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from three to twenty years.
Investments in Related Companies	Investments in Related Companies Investments in related companies consist of the Corporation's ownership interests in TDCC subsidiaries located in the United States and Latin America. The Corporation accounts for these investments using the cost method as it does not have significant influence over the operating and financial policies of these related companies.
Lessee, Leases [Policy Text Block]	Leases UCC determines whether a contract contains a lease at contract inception. A contract contains a lease if there is an identified asset and the Corporation has the right to control the asset. Operating lease right-of-use (“ROU”) assets represent UCC’s right to use an underlying asset for the lease term, and lease liabilities represent UCC’s obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. UCC uses the incremental borrowing rate in determining the present value of lease payments, unless the implicit rate is readily determinable. If lease terms include options to extend or terminate the lease, the ROU asset and lease liability are measured based on the reasonably certain decision. Leases with a term of 12 months or less at the commencement date are not recognized on the balance sheet and are expensed as incurred. UCC has lease agreements with lease and non-lease components, which are accounted for as a single lease component for nearly all classes of leased assets for which UCC is the lessee. Additionally, for certain equipment leases, the portfolio approach is applied to account for the operating lease ROU assets and lease liabilities. In the consolidated statements of income, lease expense for operating lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. Some leasing arrangements require variable payments that are dependent upon usage or output, or may vary for other reasons, such as insurance or tax payments. Variable lease payments are recognized as incurred and are not presented as part of the ROU asset or lease liability. See Note 14 for additional information.
Revenue	Revenue Substantially all of the Corporation's revenues are generated by sales to TDCC. Revenue for product sales to related companies is recognized when the related company obtains control of the product, which occurs either at the time that production is complete or shipped free on board ("FOB") from UCC's manufacturing facility, in accordance with the sales agreement between the Corporation and TDCC. The Corporation recognizes revenue for product sales to trade customers when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Corporation expects to receive in exchange for those goods or services. To determine revenue recognition, the Corporation performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. See Note 3 for additional information.
Severance Costs	Severance Costs Management routinely reviews its operations around the world in an effort to ensure competitiveness across its operations and geographic regions. When the reviews result in a workforce reduction related to the shutdown of facilities or other optimization activities, severance benefits are provided to employees primarily under ongoing benefit arrangements. These severance costs are accrued once management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated.
Income Taxes	Income Taxes The Corporation accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date. The Corporation is included in the same consolidated federal income tax group and consolidated income tax return as TDCC. The Corporation accounts for its income taxes following the formula in the TDCC-UCC Tax Sharing Agreement used to compute the amount due to TDCC or UCC for UCC's share of taxable income and tax attributes on the consolidated income tax return. This method generally follows the separate return method. The amounts reported as income taxes payable or receivable represent the Corporation's payment obligation (or refundable amount) to TDCC based on a theoretical tax liability calculated on a separate return method. The Corporation recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The Corporation accrues for non-income tax contingencies when it is probable that a liability to a taxing authority has been incurred and the amount of the contingency can be reasonably estimated. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested.

SUPPLEMENTARY INFORMATION (Tabl

SUPPLEMENTARY INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Supplementary Information [Abstract]
Sundry Income, Net	Sundry Income (Expense) - Net In millions 2022 2021 2020 TDCC administrative and overhead fees 1 $ (65) $ (63) $ (31) Net commission expense - related company 1 (19) (21) (22) Non-operating pension and other postretirement benefit plan net credits (costs) 2 34 32 (20) Net gain on sales of property 3 6 — Gain on divestiture of marine and terminal operations and assets 3 — — 185 Gain on divestiture of rail infrastructure operations and assets 3 — — 86 Loss on early extinguishment of debt 4 — — (19) Other - net (6) (7) (11) Total sundry income (expense) - net $ (53) $ (53) $ 168 1. See Note 18 for additional information. 2. See Note 16 for additional information. 3. See Note 4 for additional information. 4. See Note 12 for additional information.
Schedule of Cash Flow, Supplemental Disclosures	The following table shows cash paid (refunded) for interest and income taxes for the years ended December 31, 2022, 2021 and 2020: Supplemental Cash Flow Information 2022 2021 2020 In millions Cash paid (refunded) during year for: Interest $ 31 $ 31 $ 41 Income taxes $ 63 $ (62) $ 93

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of geographic allocation of income	Geographic Allocation of Income and Provision for Income Taxes In millions 2022 2021 2020 Income (loss) before income taxes Domestic $ 767 $ 531 $ 558 Foreign (1) (2) (1) Income before income taxes $ 766 $ 529 $ 557 Current tax expense (benefit) Federal $ 157 $ (11) $ 82 State and local 9 5 2 Foreign 1 20 — Total current tax expense $ 167 $ 14 $ 84 Deferred tax expense (benefit) Federal $ (2) $ 122 $ 42 State and local 3 23 4 Foreign 4 (5) — Total deferred tax expense $ 5 $ 140 $ 46 Provision for income taxes $ 172 $ 154 $ 130 Net income $ 594 $ 375 $ 427
Schedule of Effective Income Tax Rate Reconciliation	Reconciliation to U.S. Statutory Rate 2022 2021 2020 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % Unrecognized tax benefits (0.7) 3.0 (0.9) Federal tax accrual adjustments 0.7 — 3.0 State and local tax impact 1.7 5.3 0.2 Other - net (0.2) (0.2) — Effective Tax Rate 1 22.5 % 29.1 % 23.3 %
Schedule of Deferred Tax Assets and Liabilities	Deferred Tax Balances at Dec 31 2022 2021 In millions Assets Liabilities Assets Liabilities Property $ — $ 154 $ — $ 167 Tax loss and credit carryforwards 26 — 23 — Postretirement benefit obligations 72 — 119 — Other accruals and reserves 293 3 313 6 Inventory 2 — — — Other - net 18 — 18 — Subtotal $ 411 $ 157 $ 473 $ 173 Valuation allowances 1 (15) — (12) — Total $ 396 $ 157 $ 461 $ 173 1. Primarily related to the realization of recorded tax benefits on state tax loss carryforwards from operations in the United States.
Summary of Operating Loss Carryforwards	Operating Loss and Tax Credit Carryforwards at Dec 31 2022 2021 In millions Assets Assets Operating loss carryforwards Expire within 5 years $ 8 $ 11 Expire after 5 years or indefinite expiration 12 7 Total operating loss carryforwards $ 20 $ 18 Tax credit carryforwards Expire within 5 years $ 5 $ 5 Expire after 5 years or indefinite expiration 1 — Total tax credit carryforwards $ 6 $ 5 Total tax loss and tax credit carryforwards $ 26 $ 23
Schedule of Total Gross Unrecognized Tax Benefits	The following table provides a reconciliation of the Corporation's unrecognized tax benefits: Total Gross Unrecognized Tax Benefits In millions 2022 2021 2020 Total unrecognized tax benefits at Jan 1 $ 8 $ 1 $ 1 Decreases related to positions taken on items from prior years — (1) — Increases related to positions taken on items from prior years — 8 — Total unrecognized tax benefits at Dec 31 $ 8 $ 8 $ 1 Total unrecognized tax benefits that, if recognized, would impact the effective tax rate $ 8 $ 8 $ 1 Total amount of interest and penalties (benefit) recognized in "Provision for income taxes" $ (10) $ 11 $ (5) Total accrual for interest and penalties recognized in the consolidated balance sheets $ 10 $ 12 $ —

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The following table provides a breakdown of inventories: Inventories at Dec 31 In millions 2022 2021 Finished goods $ 218 $ 238 Work in process 37 33 Raw materials 76 59 Supplies 87 76 Total $ 418 $ 406 Adjustment of inventories to the LIFO basis (162) (156) Total inventories $ 256 $ 250

PROPERTY (Tables)

PROPERTY (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property	The following table provides a breakdown of property: Property at Dec 31 Estimated Useful Lives (Years) In millions 2022 2021 Land and land improvements 0-25 $ 186 $ 190 Buildings 5-50 403 420 Machinery and equipment 3-20 5,993 6,090 Other property 3-30 383 377 Construction in progress — 139 91 Total property $ 7,104 $ 7,168
Schedule of other items related to property	The following table provides information regarding depreciation expense and capitalized interest: In millions 2022 2021 2020 Depreciation expense $ 165 $ 167 $ 181 Capitalized interest $ 5 $ 5 $ 6

INVESTMENTS IN RELATED COMPAN_2

INVESTMENTS IN RELATED COMPANIES (Tables)	12 Months Ended
	Dec. 31, 2022
Investments in Related Companies [Abstract]
Equity Securities without Readily Determinable Fair Value	The Corporation's ownership interests in related companies at December 31, 2022 and 2021 were as follows: Investments in Related Companies at Dec 31 Ownership Interest Investment Balance In millions 2022 2021 2022 2021 Dow International Holdings Company 5 % 5 % $ 232 $ 232 Dow Quimica Mexicana S.A. de C.V. 14 % 14 % 5 5 Total investments in related companies $ 237 $ 237

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets and Goodwill	The following table provides information regarding the Corporation's intangible assets: Intangible Assets at Dec 31 2022 2021 In millions Gross Carrying Amount Accum Amort Net Gross Carrying Amount Accum Amort Net Intangible assets with finite lives: Developed technology $ 33 $ (33) $ — $ 33 $ (33) $ — Software 76 (67) 9 83 (70) 13 Total intangible assets $ 109 $ (100) $ 9 $ 116 $ (103) $ 13
Schedule Of Finite Lived Intangible Assets Amortization Expense Table	The following table provides information regarding amortization expense: Amortization Expense In millions 2022 2021 2020 Software, included in "Cost of sales" $ 5 $ 6 $ 8
Schedule of Expected Amortization Expense	Total estimated amortization expense for the next five fiscal years, including amounts expected to be capitalized, is as follows: Estimated Amortization Expense for Next Five Years In millions 2023 $ 4 2024 $ 3 2025 $ 2 2026 $ 1 2027 $ 1

NOTES PAYABLE AND LONG-TERM D_2

NOTES PAYABLE AND LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Notes Payable at Dec 31 In millions 2022 2021 Notes payable to related companies $ 51 $ 30 Notes payable - other 4 — Total notes payable $ 55 $ 30 Year-end average interest rates 1.02 % 1.43 %
Schedule of Long-term Debt Instruments	Long-Term Debt at Dec 31 2022 Average Rate 2022 2021 Average Rate 2021 In millions Promissory notes and debentures: Debentures due 2023 7.875 % $ 129 7.875 % $ 129 Debentures due 2025 6.79 % 12 6.79 % 12 Debentures due 2025 7.50 % 113 7.50 % 113 Debentures due 2096 7.75 % 135 7.75 % 135 Finance lease obligations 1 7 9 Unamortized debt discount and issuance costs (2) (3) Long-term debt due within one year (132) (3) Total long-term debt $ 262 $ 392 1. See Note 14 for additional information.
Schedule of Maturities of Long-term Debt	Maturities of Long-Term Debt for Next Five Years at Dec 31, 2022 In millions 2023 $ 132 2024 $ 3 2025 $ 127 2026 $ — 2027 $ —

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Environmental Loss Contingency	The following table summarizes the activity in the Corporation's accrued obligations for environmental matters for the years ended December 31, 2022 and 2021: Accrued Liability for Environmental Matters In millions 2022 2021 Balance at Jan 1 $ 148 $ 133 Accrual adjustment 78 47 Payments against reserve (42) (31) Foreign currency impact (1) (1) Balance at Dec 31 $ 183 $ 148

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The changes in each component of AOCL for the years ended December 31, 2022, 2021 and 2020 were as follows: Accumulated Other Comprehensive Loss 2022 2021 2020 In millions Cumulative Translation Adjustment Beginning balance $ (53) $ (55) $ (56) Unrealized gains (losses) on foreign currency translation — 2 — (Gains) losses reclassified from AOCL to net income 1 (1) — 1 Other comprehensive income (loss), net of tax (1) 2 1 Ending balance $ (54) $ (53) $ (55) Pension and Other Postretirement Benefits Beginning balance $ (1,498) $ (1,715) $ (1,609) Gains (losses) arising during the period 96 180 (242) Tax (expense) benefit (22) (43) 57 Net gains (losses) arising during the period 74 137 (185) Amortization of net loss and prior service credit reclassified from AOCL to net income 2 98 104 103 Tax expense (benefit) 3 (22) (24) (24) Net loss and prior service credit reclassified from AOCL to net income 76 80 79 Other comprehensive income (loss), net of tax 150 217 (106) Ending balance $ (1,348) $ (1,498) $ (1,715) Total AOCL ending balance $ (1,402) $ (1,551) $ (1,770) 1. Reclassified to "Sundry income (expense) - net." 2. These AOCL components are included in the computation of net periodic benefit cost of the Corporation's defined benefit pension and other postretirement benefit plans. See Note 16 for additional information. 3. Reclassified to "Provision for income taxes."

PENSION PLANS AND OTHER POSTR_2

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan	Summarized information on the Corporation's pension and other postretirement benefit plans is as follows: Change in Projected Benefit Obligations, Plan Assets and Funded Status for All Plans Defined Benefit Other Postretirement Benefit Plan In millions 2022 2021 2022 2021 Change in projected benefit obligations: Benefit obligations at beginning of year $ 3,940 $ 4,229 $ 174 $ 220 Service cost 37 26 1 1 Interest cost 91 80 3 3 Actuarial changes in assumptions and experience (826) (112) (48) (37) Benefits paid (265) (263) (2) (13) Curtailments/other 1 (117) (20) — — Benefit obligations at end of year $ 2,860 $ 3,940 $ 128 $ 174 Change in plan assets: Fair value of plan assets at beginning of year $ 3,611 $ 3,095 $ — $ — Actual return on plan assets (556) 236 — — Employer contributions 3 549 — — Asset transfers (8) (8) — — Benefits paid (265) (263) — — Other 2 (106) 2 — — Fair value of plan assets at end of year $ 2,679 $ 3,611 $ — $ — Funded status at end of year $ (181) $ (329) $ (128) $ (174) Net amounts recognized in the consolidated balance sheets at Dec 31: Accrued and other current liabilities $ (2) $ (2) $ (12) $ (13) Pension and other postretirement benefits - noncurrent (179) (327) (116) (161) Net amount recognized $ (181) $ (329) $ (128) $ (174) Pretax amounts recognized in accumulated other comprehensive loss at Dec 31: Net loss (gain) $ 1,852 $ 2,007 $ (124) $ (84) Prior service credit — (1) — — Pretax balance in accumulated other comprehensive loss at end of year $ 1,852 $ 2,006 $ (124) $ (84) 1. The 2022 impact primarily relates to the transfer of benefit obligations through the purchase of an annuity contract from an insurance company. The 2021 impact primarily relates to the freeze of pensionable compensation and credited service amounts for employees that participate in the UCC Plans. 2. The 2022 impact relates to the purchase of an annuity contract associated with the transfer of benefit obligations to an insurance company.
Schedule of Net Benefit Costs	Net Periodic Benefit Cost (Credit) for All Plans for the Year Ended Dec 31 Defined Benefit Pension Plans Other Postretirement Benefit Plan In millions 2022 2021 2020 2022 2021 2020 Net Periodic Benefit Cost (Credit): Service cost $ 37 $ 26 $ 35 $ 1 $ 1 $ 1 Interest cost 91 80 112 3 3 5 Expected return on plan assets (226) (219) (200) — — — Amortization of prior service credit (1) (1) (1) — — — Amortization of net (gain) loss 108 116 110 (9) (4) (6) Curtailment gain 1 — (7) — — — — Net periodic benefit cost (credit) $ 9 $ (5) $ 56 $ (5) $ — $ — Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss: Net (gain) loss $ (47) $ (144) $ 240 $ (49) $ (36) $ 2 Amortization of prior service credit 1 1 1 — — — Amortization of net gain (loss) (108) (116) (110) 9 4 6 Curtailment gain 1 — 7 — — — — Total recognized in other comprehensive (income) loss $ (154) $ (252) $ 131 $ (40) $ (32) $ 8 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (145) $ (257) $ 187 $ (45) $ (32) $ 8 1. The 2021 impact relates primarily to the freeze of pensionable compensation and credited service amounts for employees that participate in the UCC Plans.
Schedule of Expected Benefit Payments	The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table: Estimated Future Benefit Payments at Dec 31, 2022 Defined Benefit Pension Plans Other Postretirement Benefit Plan In millions 2023 $ 265 $ 12 2024 240 12 2025 236 12 2026 233 12 2027 229 12 2028 through 2032 1,071 49 Total $ 2,274 $ 109
Schedule of Allocation of Plan Assets	The weighted-average target allocation for plan assets of the Corporation's pension plan is summarized as follows: Target Allocation for Plan Assets at Dec 31, 2022 Target Allocation Asset Category Equity securities 23 % Fixed income securities 45 Alternative investments 27 Other 5 Total 100 %
Schedule of Defined Benefit Plans Disclosures	The following table summarizes the bases used to measure the Corporation’s pension plan assets at fair value for the years ended December 31, 2022 and 2021: Basis of Fair Value Measurements Dec 31, 2022 Dec 31, 2021 In millions Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 224 $ 172 $ 52 $ — $ 289 $ 251 $ 38 $ — Equity securities: U.S. equity securities $ 288 $ 288 $ — $ — $ 431 $ 431 $ — $ — Non - U.S. equity securities 255 244 11 — 405 378 26 1 Total equity securities $ 543 $ 532 $ 11 $ — $ 836 $ 809 $ 26 $ 1 Fixed income securities: Debt - government-issued $ 665 $ 1 $ 664 $ — $ 806 $ 4 $ 802 $ — Debt - corporate-issued 442 1 441 — 796 146 650 — Debt - asset-backed 20 — 20 — 17 — 17 — Total fixed income securities $ 1,127 $ 2 $ 1,125 $ — $ 1,619 $ 150 $ 1,469 $ — Alternative investments: Private markets $ 2 $ — $ — $ 2 $ 2 $ — $ — $ 2 Derivatives - asset position 5 — 5 — 30 — 30 — Derivatives - liability position (16) — (16) — (12) — (12) — Total alternative investments $ (9) $ — $ (11) $ 2 $ 20 $ — $ 18 $ 2 Other investments $ 3 $ 2 $ 1 $ — $ 1 $ 1 $ — $ — Subtotal $ 1,888 $ 708 $ 1,178 $ 2 $ 2,765 $ 1,211 $ 1,551 $ 3 Investments measured at net asset value: Hedge funds $ 142 $ 197 Private markets 411 414 Real estate 240 237 Total investments measured at net asset value $ 793 $ 848 Items to reconcile to fair value of plan assets: Pension trust receivables 1 $ 4 $ 33 Pension trust payables 2 (6) (35) Total $ 2,679 $ 3,611 1. Primarily receivables for investment securities sold. 2. Primarily payables for investment securities purchased.
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Assumptions Used	The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs are provided below: Pension Plan Assumptions Benefit Obligations Net Periodic Benefit Costs 2022 2021 2022 2021 2020 Discount rate 5.60 % 2.94 % 2.94 % 2.86 % 3.29 % Interest crediting rate for applicable benefits 4.50 % 4.50 % 4.50 % 4.50 % 4.50 % Rate of compensation increase 4.25 % 4.25 % 4.25 % 4.25 % 4.25 % Expected return on plan assets 6.80 % 6.80 % 6.80 %
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets at Dec 31 In millions 2022 2021 Accumulated benefit obligations $ 2,859 $ 3,935 Fair value of plan assets $ 2,679 $ 3,611
Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets	Pension Plans with Projected Benefit Obligations in Excess of Plan Assets at Dec 31 2022 2021 In millions Projected benefit obligations $ 2,860 $ 3,940 Fair value of plan assets $ 2,679 $ 3,611
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The following table summarizes the changes in fair value of Level 3 pension plan assets for the years ended December 31, 2022 and 2021: Fair Value Measurement of Level 3 Pension Plan Assets Equity Securities Alternative Investments Total In millions Balance at Jan 1, 2021 $ 1 $ 6 $ 7 Actual return on plan assets: Relating to assets held at Dec 31, 2021 — (4) (4) Balance at Dec 31, 2021 $ 1 $ 2 $ 3 Actual return on plan assets: Relating to assets held at Dec 31, 2022 (1) (2) (3) Purchases, sales and settlements — 2 2 Balance at Dec 31, 2022 $ — $ 2 $ 2
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Assumptions Used	The weighted-average assumptions used to determine other postretirement benefit plan obligations and net periodic benefit costs for the plan are provided in the following table: Other Postretirement Benefit Plan Assumptions Benefit Obligations at Dec 31 Net Periodic Benefit Costs for the Year Ended 2022 2021 2022 2021 2020 Discount rate 5.56 % 2.84 % 2.84 % 2.34 % 3.17 % Health care cost trend rate assumed for next year 6.57 % 6.50 % 6.50 % 6.75 % 6.25 % Rate to which the cost trend rate is assumed to decline (the ultimate health care cost trend rate) 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Year that the rate reaches the ultimate health care cost trend rate 2033 2028 2028 2028 2025

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease cost for operating and finance leases for the years ended December 31, 2022, 2021 and 2020 were as follows: Lease Cost 2022 2021 2020 In millions Operating lease cost $ 25 $ 23 $ 20 Short-term lease cost 31 28 22 Variable lease cost 19 39 8 Amortization of right-of-use assets - finance 3 3 2 Total lease cost $ 78 $ 93 $ 52
Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block]	The following table provides supplemental cash flow and other information related to leases: Other Lease Information 2022 2021 2020 In millions Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 25 $ 23 $ 19 Financing cash flows for finance leases $ 3 $ 3 $ 2 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2 $ 15 $ 48 Finance leases $ 1 $ 5 $ 3
Schedule of Lease Assets and Liabilities [Table Text Block]	The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at December 31, 2022 and 2021: Lease Position Balance Sheet Classification Dec 31, 2022 Dec 31, 2021 In millions Assets Operating lease assets Operating lease right-of-use assets $ 107 $ 122 Finance lease assets Property 20 19 Finance lease amortization Accumulated depreciation (13) (11) Total lease assets $ 114 $ 130 Liabilities Current Operating Operating lease liabilities - current $ 21 $ 20 Finance Long-term debt due within one year 3 3 Noncurrent Operating Operating lease liabilities - noncurrent 87 103 Finance Long-Term Debt 4 6 Total lease liabilities $ 115 $ 132
Lease Terms and Discount Rates [Table Text Block]	The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at December 31, 2022 and 2021 are provided below: Lease Term and Discount Rate Dec 31, 2022 Dec 31, 2021 Weighted-average remaining lease term Operating leases 6.3 years 7.1 years Finance leases 2.5 years 3.1 years Weighted-average discount rate Operating leases 3.43 % 3.17 % Finance leases 2.33 % 2.53 %
Maturities of Lease Liabilities [Table Text Block]	The following table provides the maturities of lease liabilities at December 31, 2022: Maturities of Lease Liabilities Dec 31, 2022 In millions Operating Leases Finance Leases 2023 $ 24 $ 3 2024 23 3 2025 21 2 2026 20 — 2027 9 — 2028 and thereafter 22 — Total future undiscounted lease payments $ 119 $ 8 Less: Imputed interest 11 1 Total present value of lease liabilities $ 108 $ 7

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the fair value of the Corporation's financial instruments at December 31, 2022 and 2021: Fair Value of Financial Instruments 2022 2021 In millions Cost Gain Loss Fair Value Cost Gain Loss Fair Value Cash equivalents 1 $ 10 $ — $ — $ 10 $ 10 $ — $ — $ 10 Long-term debt including debt due within one year $ (394) $ — $ (29) $ (423) $ (395) $ — $ (133) $ (528) 1. Money market fund is included in "Cash and cash equivalents" in the consolidated balance sheets and held at amortized cost, which approximates fair value.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes UCC’s transactions with TDCC and a TDCC subsidiary related to product and services agreements for the years ended December 31, 2022, 2021 and 2020: Product and Services Agreements Transactions 2022 2021 2020 Income Statement In millions Classification TDCC Subsidiary: Commodity and raw materials purchases 1 $ 1,909 $ 1,915 $ 1,021 Cost of sales Commission expense $ 19 $ 21 $ 22 Sundry income (expense) - net TDCC: General administrative and overhead type services and service fee 2 $ 65 $ 63 $ 31 Sundry income (expense) - net Activity-based costs $ 89 $ 74 $ 87 Cost of sales 1. Period-end balances on hand are included in inventory. The increase in purchase costs from 2020 was primarily due to higher feedstock and energy costs. 2. The increase in services and fees from 2020 resulted from TDCC's periodic review of the actual cost of services provided to UCC in accordance with related agreements.
Dividends Declared	The following table summarizes cash dividends declared and paid to TDCC for the years ended 2022, 2021 and 2020: Cash Dividends Declared and Paid 2022 2021 2020 In millions Cash dividends declared and paid $ 1,063 $ 288 $ 362

BUSINESS AND GEOGRAPHIC AREAS_2

BUSINESS AND GEOGRAPHIC AREAS (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Sales are attributed to geographic regions based on customer location; long-lived assets are attributed to geographic regions based on asset location. Sales to external customers and long-lived assets by geographic region were as follows: Geographic Region Information United States Asia Pacific Rest of World Total In millions 2022 Sales to external customers 1 $ 182 $ 3 $ 6 $ 191 Long-lived assets $ 1,149 $ 22 $ 11 $ 1,182 2021 Sales to external customers 1 $ 139 $ 4 $ 11 $ 154 Long-lived assets $ 1,169 $ 24 $ 15 $ 1,208 2020 Sales to external customers 1 $ 95 $ 23 $ 11 $ 129 Long-lived assets $ 1,226 $ 20 $ 19 $ 1,265 1. Of total sales to external customers, sales in Malaysia were approximately 1 percent in 2022, 2 percent in 2021 and 18 percent in 2020, and are included in Asia Pacific.

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract liability	$ 33	$ 35
Accrued Liabilities [Member]
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability, Current	2	2
Other Noncurrent Liabilities [Member]
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability, Noncurrent	$ 31	$ 33
Maximum [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	18 years

DIVESTITURE (Details)

DIVESTITURE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sales of property	$ 3	$ 7	$ 330
Rail Infrastructure Operations and Assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets, Noncurrent			9
Proceeds from sales of property			95
Disposal Group Not Discontinued Operation Gain Loss On Disposal Statement Of Income Extensible List Not Disclosed Flag			86
Marine and Terminal Operations and Assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets, Noncurrent			41
Lease Obligation Incurred			38
Proceeds from sales of property			226
Disposal Group Not Discontinued Operation Gain Loss On Disposal Statement Of Income Extensible List Not Disclosed Flag			$ 185

RESTRUCTURING AND ASSET RELAT_2

RESTRUCTURING AND ASSET RELATED CHARGES - NET (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended			30 Months Ended
	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 0	$ 1	$ 15
2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 13				$ 14
2020 Restructuring Program [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	9		1		10
2020 Restructuring Program [Member] | Asset write-downs and write-offs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 4				$ 4
2020 Restructuring Program [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Payments for Restructuring		$ 1	$ 9

SUPPLEMENTARY INFORMATION (Sund

SUPPLEMENTARY INFORMATION (Sundry) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Information [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 34	$ 32	$ (20)
Gain (Loss) on Disposition of Property Plant Equipment	3	6	0
Gain (Loss) on Extinguishment of Debt	0	0	(19)
Other - net	(6)	(7)	(11)
Total sundry income (expense) - net	(53)	(53)	168
Administrative and overhead fees [Member] | The Dow Chemical Company [Member]
Supplementary Information [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	(65)	(63)	(31)
Net Commission Expense [Member] | The Dow Chemical Company [Member]
Supplementary Information [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	(19)	(21)	(22)
Marine and Terminal Operations and Assets [Member]
Supplementary Information [Line Items]
Gain (Loss) on Disposition of Property Plant Equipment	0	0	185
Rail Infrastructure Operations and Assets [Member]
Supplementary Information [Line Items]
Gain (Loss) on Disposition of Property Plant Equipment	$ 0	$ 0	$ 86

SUPPLEMENTARY INFORMATION SUPPL

SUPPLEMENTARY INFORMATION SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Interest, net of amounts capitalized	$ 31	$ 31	$ 41
Income taxes	$ 63	$ (62)	$ 93

INCOME TAXES (Schedule of Domes

INCOME TAXES (Schedule of Domestic and Foreign Components of Income Before Income Taxes and Tax Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Geographic Allocation of Income and Provision (Credit) for Income Taxes [Abstract]
Income (Loss) Before Income Taxes, Domestic	$ 767	$ 531	$ 558
Income (Loss) Before Income Taxes, Foreign	(1)	(2)	(1)
Income before income taxes	766	529	557
Current Federal Tax Expense (Benefit)	157	(11)	82
Current State and Local Tax Expense (Benefit)	9	5	2
Current Foreign Tax Expense (Benefit)	1	20	0
Current Income Tax Expense (Benefit)	167	14	84
Deferred Federal Income Tax Expense (Benefit)	(2)	122	42
Deferred State and Local Income Tax Expense (Benefit)	3	23	4
Deferred Foreign Income Tax Expense (Benefit)	4	(5)	0
Deferred Income Tax Expense (Benefit)	5	140	46
Provision for income taxes	172	154	130
Net Income Attributable to Union Carbide Corporation	$ 594	$ 375	$ 427

INCOME TAXES (Reconciliation to

INCOME TAXES (Reconciliation to U.S. Statutory Rate) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	21%	21%	21%
Unrecognized tax benefits	(0.70%)	3%	(0.90%)
Federal tax accrual adjustments	0.70%	0%	3%
State and local tax impact	1.70%	5.30%	0.20%
Other - net	(0.20%)	(0.20%)	0%
Effective Tax Rate	22.50%	29.10%	23.30%

INCOME TAXES (Schedule of Defer

INCOME TAXES (Schedule of Deferred Tax Balances) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Property, Plant and Equipment	$ 0	$ 0
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards	26	23
Postretirement benefit obligations, Deferred Tax Assets	72	119
Other accruals and reserves, Deferred Tax Assets	293	313
Inventory, Deferred Tax Assets	2	0
Other - net, deferred tax assets	18	18
Subtotal, deferred tax assets	(411)	(473)
Valuation allowances, deferred tax assets	(15)	(12)
Total, deferred tax assets	396	461
Property, Deferred Tax Liabilities	154	167
Tax loss and credit carryforwards, Deferred Tax Liabilities,	0	0
Postretirement benefit obligations, Deferred Tax Liabilities	0	0
Other accruals and reserves, Deferred Tax Liabilities	3	6
Inventory, deferred tax liabilities	0	0
Other - net, deferred tax liabilities	0	0
Total, deferred tax liabilities	$ 157	$ 173

INCOME TAXES (Summary of Operat

INCOME TAXES (Summary of Operating Loss Carryforwards) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Operating Loss Carryforwards	$ 20	$ 18
Deferred Tax Assets, Tax Credit Carryforwards	6	5
Operating Loss Carryforward and Tax Credit Carryforwards	26	23
Undistributed Earnings of Foreign Subsidiaries	0	7
Expiring Within Five Years [Member]
Deferred Tax Assets, Operating Loss Carryforwards	8	11
Deferred Tax Assets, Tax Credit Carryforwards	5	5
Expiring After Five Years or Having Indefinite Expiration [Member] [Member]
Deferred Tax Assets, Operating Loss Carryforwards	12	7
Deferred Tax Assets, Tax Credit Carryforwards	$ 1	$ 0

INCOME TAXES (Uncertain Tax Pos

INCOME TAXES (Uncertain Tax Position) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Total Gross Unrecognized Tax Benefits [Roll Forward]
Gross unrecognized tax benefits, beginning balance	$ 8	$ 1	$ 1
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	0	(1)	0
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	0	8	0
Gross unrecognized tax benefits, ending balance	8	8	1
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate	8	8	1
Total amount of interest and penalties (benefit) recognized in "Provision for income taxes"	(10)	11	(5)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 10	$ 12	$ 0

INCOME TAXES (Tax Years Subject

INCOME TAXES (Tax Years Subject to Examination by Major Tax Jurisdiction) (Details)	12 Months Ended
	Dec. 31, 2022
Federal Income Tax [Member]
Earliest open year	2007
State and Local Income Tax [Member]
Earliest open year	2004

INVENTORIES (Schedule of Invent

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 218	$ 238
Work in process	37	33
Raw materials	76	59
Supplies	87	76
Total	418	406
Adjustment of inventories to a LIFO basis	(162)	(156)
Total inventories	$ 256	$ 250
Percentage of LIFO Inventory	65%	64%

PROPERTY (Schedule of Property)

PROPERTY (Schedule of Property) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property	$ 7,104	$ 7,168
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property	$ 186	190
Land and Land Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	0 years
Land and Land Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	25 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property	$ 403	420
Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	5 years
Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	50 years
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property	$ 5,993	6,090
Machinery and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3 years
Machinery and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	20 years
Other property [Member]
Property, Plant and Equipment [Line Items]
Property	$ 383	377
Other property [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	3 years
Other property [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	30 years
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property	$ 139	$ 91

PROPERTY (Schedule of Other Ite

PROPERTY (Schedule of Other Items Related to Property) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 165	$ 167	$ 181
Capitalized interest	$ 5	$ 5	$ 6

INVESTMENTS IN RELATED COMPAN_3

INVESTMENTS IN RELATED COMPANIES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Investments in related companies	$ 237	$ 237
Dow International Holdings Company [Member]
Schedule of Investments [Line Items]
Ownership Interest Percentage, Related Company	5%	5%
Equity Securities without Readily Determinable Fair Value, Amount	$ 232	$ 232
Dow Quimica Mexicana S.A. de C.V. [Member]
Schedule of Investments [Line Items]
Ownership Interest Percentage, Related Company	14%	14%
Equity Securities without Readily Determinable Fair Value, Amount	$ 5	$ 5

INTANGIBLE ASSETS (Schedule of

INTANGIBLE ASSETS (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 109	$ 116
Finite-Lived Intangible Assets, Accumulated Amortization	(100)	(103)
Finite-Lived Intangible Assets, Net	9	13
Licenses and Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	33	33
Finite-Lived Intangible Assets, Accumulated Amortization	(33)	(33)
Finite-Lived Intangible Assets, Net	0	0
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	76	83
Finite-Lived Intangible Assets, Accumulated Amortization	(67)	(70)
Finite-Lived Intangible Assets, Net	$ 9	$ 13

INTANGIBLE ASSETS (Schedule o_2

INTANGIBLE ASSETS (Schedule of Amortization Expense of Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Software	$ 5	$ 6	$ 8

INTANGIBLE ASSETS (Schedule o_3

INTANGIBLE ASSETS (Schedule of Future Amortization Expense of Intangible Assets) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 4
2021	3
2022	2
2023	1
2024	$ 1

NOTES PAYABLE AND LONG-TERM D_3

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Notes Payable) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Notes payable to related companies	$ 51	$ 30
Year-end average interest rates	1.02%	1.43%
Notes Payable to Bank	$ 4	$ 0
Notes Payable	$ 55	$ 30

NOTES PAYABLE AND LONG-TERM D_4

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation		$ 262	$ 392
Unamortized debt discount and issuance costs		(2)	(3)
Long-term debt due within one year		(132)	(3)
Repayments of Long-term Debt		3	2	$ 84
Gain (Loss) on Extinguishment of Debt		0	$ 0	$ (19)
Letters of Credit Outstanding, Amount		$ 6
Final Maturity 2023 [Member]
Debt Instrument [Line Items]
Average Interest Rate in Period		7.875%	7.875%
Long-term Debt and Lease Obligation		$ 129	$ 129
Final Maturity 2025 (a) [Member]
Debt Instrument [Line Items]
Average Interest Rate in Period		6.79%	6.79%
Long-term Debt and Lease Obligation		$ 12	$ 12
Final Maturity 2025 (b) [Member]
Debt Instrument [Line Items]
Average Interest Rate in Period		7.50%	7.50%
Long-term Debt and Lease Obligation		$ 113	$ 113
Final Maturity 2096 [Member]
Debt Instrument [Line Items]
Average Interest Rate in Period		7.75%	7.75%
Long-term Debt and Lease Obligation		$ 135	$ 135
U.S. Dollar Notes [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Long-term Debt	$ 83
7.875 Percent Notes Due 2023 [Member]
Debt Instrument [Line Items]
Repayments of Long-term Debt	$ 46
Debt Instrument, Interest Rate, Stated Percentage	7.875%
7.5 Percent Notes Due 2025 [Member]
Debt Instrument [Line Items]
Repayments of Long-term Debt	$ 37
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Long-term Debt [Member] | Sundry Income (Expense), Net [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 19
Finance Lease Obligations
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation		$ 7	$ 9

NOTES PAYABLE AND LONG-TERM D_5

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Annual Installments) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Long-Term Debt, Fiscal Year Maturity [Abstract]
2020	$ 132
2021	3
2022	127
2023	0
2024	$ 0

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Environmental Matters) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at Jan 1	$ 148	$ 133
Accrual adjustment	78	47
Payments against reserve	(42)	(31)
Foreign currency impact	(1)	(1)
Balance at Dec 31	183	148	$ 133
Capital expenditures for environmental protection	38	8	$ 5
Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	$ 183	$ 148
Environmental Remediation Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales	Cost of sales	Cost of sales
Accrual For Environmental Loss Contingencies Superfund Sites [Member]
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance at Jan 1	$ 23
Balance at Dec 31	$ 36	$ 23

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES (Asbestos Related Matters) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Percentage of Recorded Asbests Liability Related to Pending Claims	23%	25%
Percentage of Recorded Asbestos Liability Related to Future Claims	77%	75%
Liability for Asbestos Claims and Defense Costs Gross	$ 947	$ 1,016

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (1,551)	$ (1,770)
Net other comprehensive income	149	219	$ (105)
Ending balance	(1,402)	(1,551)	(1,770)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(53)	(55)	(56)
Other comprehensive income (loss) before reclassifications	0	2	0
Net other comprehensive income	(1)	2	1
Ending balance	(54)	(53)	(55)
Pension and Other Postretirement Benefits
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,498)	(1,715)	(1,609)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	96	180	(242)
Other Comprehensive Income (Loss) before Reclassifications, Tax	(22)	(43)	57
Other comprehensive income (loss) before reclassifications	74	137	(185)
Amounts reclassified from AOCL	76	80	79
Reclassification from AOCI, Current Period, Tax	(22)	(24)	(24)
Net other comprehensive income	150	217	(106)
Ending balance	(1,348)	(1,498)	(1,715)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Amounts reclassified from AOCL	(1)	0	1
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and Other Postretirement Benefits
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	$ 98	$ 104	$ 103

PENSION PLANS AND OTHER POSTR_3

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Pension Plans) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer		$ 3
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ 87	826	$ 112
Increase (Decrease) in Obligation, Pension Benefits	14
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	$ 7	0	7	$ 0
Defined Benefit Plan, Plan Assets, Contributions by Employer		3	$ 549
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		$ 2
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		5.60%	2.94%	2.53%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate		2.94%	2.86%	3.29%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate		4.50%	4.50%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Weighted-Average Interest Crediting Rate		4.50%	4.50%	4.50%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase		4.25%	4.25%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase		4.25%	4.25%	4.25%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets		6.80%	6.80%	6.80%

PENSION PLANS AND OTHER POSTR_4

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Other Postretirement Benefits) (Details) - Other Postretirement Benefits Plan [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	5.56%	2.84%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.84%	2.34%	3.17%
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year	6.57%	6.50%
Defined Benefit Plan, Health Care Cost Trend Rate Assumed to Calculate Net Periodic Benefit Cost, Next Fiscal Year	6.50%	6.75%	6.25%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	5%	5%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate To Calculate Net Period Benefit Cost	5%	5%	5%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate To Calculate Net Period Benefit Cost	2033	2028
Defined Benefit Plan, Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate	2028	2028	2025

PENSION PLANS AND OTHER POSTR_5

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Change in Projected Benefit Obligation, Plan Assets and Funded Status) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		$ 2,700	$ 3,600
Defined Benefit Plan, Plan Assets, Contributions by Employer		3
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation		2,860	3,940	$ 4,229
Defined Benefit Plan, Service Cost		37	26	35
Defined Benefit Plan, Interest Cost		91	80	112
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ (87)	(826)	(112)
Defined Benefit Plan, Benefit Obligation, Benefits Paid		(265)	(263)
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Other Change		(117)	(20)
Defined Benefit Plan, Plan Assets, Amount		2,679	3,611	3,095
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)		(556)	236
Defined Benefit Plan, Plan Assets, Contributions by Employer		3	549
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Assets Transferred to (from) Plan		(8)	(8)
Defined Benefit Plan, Plan Assets, Benefits Paid		(265)	(263)
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)		106	(2)
Defined Benefit Plan, Funded (Unfunded) Status of Plan		(181)	(329)
Liability, Defined Benefit Plan, Current		(2)	(2)
Liability, Defined Benefit Plan, Noncurrent		(179)	(327)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position		(181)	(329)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax		1,852	2,007
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax		0	(1)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax		1,852	2,006
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation		128	174	220
Defined Benefit Plan, Service Cost		1	1	1
Defined Benefit Plan, Interest Cost		3	3	5
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)		(48)	(37)
Defined Benefit Plan, Benefit Obligation, Benefits Paid		(2)	(13)
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Other Change		0	0
Defined Benefit Plan, Plan Assets, Amount		0	0	$ 0
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)		0	0
Defined Benefit Plan, Plan Assets, Contributions by Employer		0	0
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Assets Transferred to (from) Plan		0	0
Defined Benefit Plan, Plan Assets, Benefits Paid		0	0
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)		0	0
Defined Benefit Plan, Funded (Unfunded) Status of Plan		(128)	(174)
Liability, Defined Benefit Plan, Current		(12)	(13)
Liability, Defined Benefit Plan, Noncurrent		(116)	(161)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position		(128)	(174)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax		(124)	(84)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax		0	0
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax		$ (124)	$ (84)

PENSION PLANS AND OTHER POSTR_6

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Accumulated and Projected Benefit Obligations in Excess of Plan Assets) (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation	$ 2,900	$ 3,900
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation	2,859	3,935
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets	2,679	3,611
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation	2,860	3,940
Defied Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Fair Value of Plan Assets	$ 2,679	$ 3,611

PENSION PLANS AND OTHER POSTR_7

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)		$ (34)	$ (32)	$ 20
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost		37	26	35
Defined Benefit Plan, Interest Cost		91	80	112
Defined Benefit Plan, Expected Return (Loss) on Plan Assets		(226)	(219)	(200)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)		(1)	(1)	(1)
Defined Benefit Plan, Amortization of Gain (Loss)		108	116	110
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	$ (7)	0	(7)	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)		9	(5)	56
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax		(47)	(144)	240
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax		1	1	1
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax		(108)	(116)	(110)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax		0	7	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax, Total		(154)	(252)	131
Total recognized in net periodic benefit cost and other comprehensive loss or income		(145)	(257)	187
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost		1	1	1
Defined Benefit Plan, Interest Cost		3	3	5
Defined Benefit Plan, Expected Return (Loss) on Plan Assets		0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)		0	0	0
Defined Benefit Plan, Amortization of Gain (Loss)		(9)	(4)	(6)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment		0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)		(5)	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax		(49)	(36)	2
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax		0	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax		9	4	6
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax		0	0	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, before Tax, Total		(40)	(32)	8
Total recognized in net periodic benefit cost and other comprehensive loss or income		$ (45)	$ (32)	$ 8

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS (Estimated Future Benefit Payments) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	$ 265
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	240
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	236
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	233
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	229
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter	1,071
Total estimated future benefit payments	2,274
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	12
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	12
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	12
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	12
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	12
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter	49
Total estimated future benefit payments	$ 109

PENSION PLANS AND OTHER POSTR_8

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100%
Defined Benefit Plan, Plan Assets, Amount	$ 2,700	$ 3,600
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	23%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	45%
Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	27%
Other Pension Plan Asset Category [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	5%

PENSION PLANS AND OTHER POSTR_9

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Basis of Fair Value Measurements) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 2,700	$ 3,600
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2,679	3,611	$ 3,095
Defined Benefit Plan, Fair Value of Plan Assets Subtotal	1,888	2,765
Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets Subtotal	708	1,211
Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets Subtotal	1,178	1,551
Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	3	7
Defined Benefit Plan, Fair Value of Plan Assets Subtotal	2	3
Pension Plan [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	224	289
Pension Plan [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	172	251
Pension Plan [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	52	38
Pension Plan [Member] | Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Pension Plan [Member] | U.S. Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	288	431
Pension Plan [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	288	431
Pension Plan [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | U.S. Equity [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Non-U.S. Equity - Developed Countries [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	255	405
Pension Plan [Member] | Non-U.S. Equity - Developed Countries [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	244	378
Pension Plan [Member] | Non-U.S. Equity - Developed Countries [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	11	26
Pension Plan [Member] | Non-U.S. Equity - Developed Countries [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	1
Pension Plan [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	543	836
Pension Plan [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	532	809
Pension Plan [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	11	26
Pension Plan [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	1	1
Pension Plan [Member] | US Treasury and Government [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	665	806
Pension Plan [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	1	4
Pension Plan [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	664	802
Pension Plan [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Corporate Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	442	796
Pension Plan [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	1	146
Pension Plan [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	441	650
Pension Plan [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Asset-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	20	17
Pension Plan [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	20	17
Pension Plan [Member] | Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,127	1,619
Pension Plan [Member] | Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	150
Pension Plan [Member] | Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,125	1,469
Pension Plan [Member] | Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Pension Plan [Member] | Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	2	2
Pension Plan [Member] | Private Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Private Equity Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	2	2
Pension Plan [Member] | Derivative Financial Instruments, Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	5	30
Pension Plan [Member] | Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	5	30
Pension Plan [Member] | Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Derivative Financial Instruments, Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	16	12
Pension Plan [Member] | Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	16	12
Pension Plan [Member] | Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0	0
Pension Plan [Member] | Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	(9)	20
Pension Plan [Member] | Alternative Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Pension Plan [Member] | Alternative Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	(11)	18
Pension Plan [Member] | Alternative Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	2	$ 6
Pension Plan [Member] | Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	3	1
Pension Plan [Member] | Other [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	1
Pension Plan [Member] | Other [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	0
Pension Plan [Member] | Other [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Pension Plan [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Alternative Investments, Fair Value Of Plan Assets	142	197
Pension Plan [Member] | Private Market Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Alternative Investments, Fair Value Of Plan Assets	411	414
Pension Plan [Member] | Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Alternative Investments, Fair Value Of Plan Assets	240	237
Pension Plan [Member] | Plan Assets, Retirement Plan, Total investments measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	793	848
Pension Plan [Member] | Pension Trust Receivables
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	4	33
Pension Plan [Member] | Pension Trust Payables [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ (6)	$ (35)

PENSION PLANS AND OTHER POST_10

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Fair Value Measurement of Level 3 Pension Plan Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 2,700	$ 3,600
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2,679	3,611	$ 3,095
Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	3	7
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held	(3)	(4)
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement	2
Pension Plan [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	543	836
Pension Plan [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	1	1
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held	(1)	0
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement	0
Pension Plan [Member] | Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,127	1,619
Pension Plan [Member] | Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Pension Plan [Member] | Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	(9)	20
Pension Plan [Member] | Alternative Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	2	$ 6
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held	(2)	$ (4)
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Purchase, Sale, and Settlement	$ 2

PENSION PLANS AND OTHER POST_11

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Defined Contribution Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	$ 12	$ 8	$ 7
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	5%
Automatic Non-Elective Contribution
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4%

LEASES (Details)

LEASES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating lease cost	$ 25	$ 23	$ 20
Short-term lease cost	31	28	22
Variable lease cost	19	39	8
Amortization of right-of-use assets - finance	3	3	2
Total lease cost	78	93	52
Operating cash flows for operating leases	25	23	19
Financing cash flows for finance leases	3	3	2
Right-of-use assets obtained in exchange for lease obligations:	2	15	48
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	1	5	$ 3
Operating lease assets	107	122
Total lease assets	114	130
Operating lease liabilities - current	21	20
Operating lease liabilities - noncurrent	87	103
Total lease liabilities	$ 115	$ 132
Operating Lease, Weighted Average Remaining Lease Term	6 years 3 months 18 days	7 years 1 month 6 days
Finance Lease, Weighted Average Remaining Lease Term	2 years 6 months	3 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	3.43%	3.17%
Finance Lease, Weighted Average Discount Rate, Percent	2.33%	2.53%
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 24
Finance Lease, Liability, Payments, Due Next Twelve Months	3
Lessee, Operating Lease, Liability, Payments, Due Year Two	23
Finance Lease, Liability, Payments, Due Year Two	3
Lessee, Operating Lease, Liability, Payments, Due Year Three	21
Finance Lease, Liability, Payments, Due Year Three	2
Lessee, Operating Lease, Liability, Payments, Due Year Four	20
Finance Lease, Liability, Payments, Due Year Four	0
Lessee, Operating Lease, Liability, Payments, Due Year Five	9
Finance Lease, Liability, Payments, Due Year Five	0
Lessee, Operating Lease, Liability, Payments, Due after Year Five	22
Finance Lease, Liability, Payments, Due after Year Five	0
Lessee, Operating Lease, Liability, Payments, Due	119
Finance Lease, Liability, Payment, Due	8
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	11
Finance Lease, Liability, Undiscounted Excess Amount	1
Operating lease, liability	108
Finance Lease, Liability	7
Lessee, Additional Leases Not yet Commenced, Assumptions and Judgment, Amount	0
Property, Plant and Equipment
Finance Lease, Right-of-Use Asset, before Accumulated Amortization	20	$ 19
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
Finance Lease, Right-of-Use Asset, Accumulated Amortization	13	11
Long-Term Debt Due Within One Year
Finance Lease, Liability	3	3
Long-term Debt and Lease Obligation
Finance Lease, Liability	$ 4	$ 6
Maximum [Member]
Lessee, Operating and Finance Leases, Remaining Lease Term	18 years

FAIR VALUE MEASUREMENTS (Basis

FAIR VALUE MEASUREMENTS (Basis of Fair Value Measurements on a Recurring Basis) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt	$ (394)	$ (395)
Cash and Cash Equivalents, Fair Value Disclosure	10	10
Long-term Debt, Fair Value	(423)	(528)
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, at Carrying Value	10	10
Financial Instruments Gross Unrealized Gains	0	0
Financial Instruments Gross Unrealized Loss	0	0
Long-term Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Instruments Gross Unrealized Gains	0	0
Financial Instruments Gross Unrealized Loss	$ (29)	$ (133)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Accounts Receivable, Related Parties	$ 766	$ 1,394
Payments of Dividends	$ 1,063	288	$ 362
The Dow Chemical Company [Member]
Related Party Transaction [Line Items]
Service Fee with Parent	10%
Notes Receivable, Related Parties	$ 958	988
Line of Credit Facility, Maximum Borrowing Capacity	1,000
Notes Receivable, Related Parties, Noncurrent	942	935
Payments of Dividends	1,063	288	362
The Dow Chemical Company [Member] | Net Commission Expense [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	19	21	22
The Dow Chemical Company [Member] | Weather Events Insurance Recovery [Member]
Related Party Transaction [Line Items]
Accounts Receivable, Related Parties		114
The Dow Chemical Company [Member] | Cost of Sales [Member] | Purchases from Dow [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,909	1,915	1,021
The Dow Chemical Company [Member] | Cost of Sales [Member] | Activity Based Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	89	74	87
The Dow Chemical Company [Member] | Sundry Income (Expense), Net [Member] | Net Commission Expense [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	19	21	22
The Dow Chemical Company [Member] | Sundry Income (Expense), Net [Member] | General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	65	63	31
The Dow Chemical Company [Member] | Estimated Federal Tax Liability, Related Party [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 155	$ 42	$ 100

BUSINESS AND GEOGRAPHIC AREAS_3

BUSINESS AND GEOGRAPHIC AREAS (Schedule of Revenue by Geographic Area and Other Details) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net trade sales	$ 191	$ 154	$ 129
Long-lived assets	1,182	1,208	1,265
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net trade sales	182	139	95
Long-lived assets	1,149	1,169	1,226
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net trade sales	3	4	23
Long-lived assets	22	24	20
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Net trade sales	6	11	11
Long-lived assets	$ 11	$ 15	$ 19
Malaysia
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of Total Sales Related to a Specific Country in a Geographic Region	1%	2%	18%