Dow (DOW) 10-Q 22 Jul 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Information [Line Items]
Entity Registrant Name	Dow Inc.
Entity Tax Identification Number	30-1128146
Entity File Number	001-38646
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Central Index Key	0001751788
Current Fiscal Year End Date	--12-31
Entity Addresses [Line Items]
Entity Address, Address Line One	2211 H.H. Dow Way
Entity Address, City or Town	Midland
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48674
City Area Code	989
Local Phone Number	636-1000
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	DOW
Security Exchange Name	NYSE
Entity Listing, Par Value Per Share | $ / shares	$ 0.01
Entity Common Stock, Shares Outstanding | shares	718,167,477
The Dow Chemical Company
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Information [Line Items]
Entity Registrant Name	The Dow Chemical Company
Entity Tax Identification Number	38-1285128
Entity File Number	001-03433
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Central Index Key	0000029915
Current Fiscal Year End Date	--12-31
Entity Addresses [Line Items]
Entity Address, Address Line One	2211 H.H. Dow Way
Entity Address, City or Town	Midland
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48674
City Area Code	989
Local Phone Number	636-1000
Entity Listings [Line Items]
Entity Listing, Par Value Per Share | $ / shares	$ 0.01
Entity Common Stock, Shares Outstanding | shares	100
The Dow Chemical Company | 0.500% Notes due March 15, 2027
Entity Listings [Line Items]
Title of 12(b) Security	0.500% Notes due March 15, 2027
Trading Symbol	DOW/27
Security Exchange Name	NYSE
The Dow Chemical Company | 1.125% Notes due March 15, 2032
Entity Listings [Line Items]
Title of 12(b) Security	1.125% Notes due March 15, 2032
Trading Symbol	DOW/32
Security Exchange Name	NYSE
The Dow Chemical Company | 1.875% Notes due March 15, 2040
Entity Listings [Line Items]
Title of 12(b) Security	1.875% Notes due March 15, 2040
Trading Symbol	DOW/40
Security Exchange Name	NYSE
The Dow Chemical Company | 4.625% Notes due October 1, 2044
Entity Listings [Line Items]
Title of 12(b) Security	4.625% Notes due October 1, 2044
Trading Symbol	DOW/44
Security Exchange Name	NYSE

Dow Consolidated Statements of

Dow Consolidated Statements of Income Statement - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 15,664	$ 13,885	$ 30,928	$ 25,767
Cost of sales	12,899	10,740	25,301	20,802
Research and development expenses	217	228	435	422
Selling, general and administrative expenses	435	440	933	806
Amortization of intangibles	85	100	173	201
Restructuring and asset related charges - net	0	22	186	22
Equity in earnings of nonconsolidated affiliates	195	278	369	502
Sundry income (expense) - net	75	(3)	223	125
Interest income	36	13	64	21
Interest expense and amortization of debt discount	165	187	332	383
Income before income taxes	2,169	2,456	4,224	3,779
Provision for income taxes	488	524	991	841
Net income	1,681	1,932	3,233	2,938
Net income attributable to noncontrolling interests	20	31	3	46
Net income available for The Dow Chemical Company common stockholder	$ 1,661	$ 1,901	$ 3,230	$ 2,892
Earnings per common share - basic	$ 2.28	$ 2.53	$ 4.40	$ 3.86
Earnings per common share - diluted	$ 2.26	$ 2.51	$ 4.37	$ 3.83
Weighted-average common shares outstanding - basic	725.7	747	730.2	745.9
Weighted-average common shares outstanding - diluted	731.5	752.9	735.6	751.4

Dow Consolidated Statements o_2

Dow Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,681	$ 1,932	$ 3,233	$ 2,938
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on investments	(153)	17	(249)	(32)
Cumulative translation adjustments	(514)	65	(678)	(188)
Pension and other postretirement benefit plans	122	149	231	1,283
Derivative instruments	137	6	469	116
Total other comprehensive income (loss)	(408)	237	(227)	1,179
Comprehensive income	1,273	2,169	3,006	4,117
Comprehensive income attributable to noncontrolling interests, net of tax	20	31	3	46
Comprehensive income attributable to Dow Inc.	$ 1,253	$ 2,138	$ 3,003	$ 4,071

Dow Consolidated Balance Sheets

Dow Consolidated Balance Sheets Statement - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents, at Carrying Value	$ 2,367	$ 2,988
Trade (net of allowance for doubtful receivables - 2022: $212; 2021: $54)	7,474	6,841
Other	2,243	2,713
Inventories	8,225	7,372
Other current assets	1,460	934
Total current assets	21,769	20,848
Investment in nonconsolidated affiliates	1,862	2,045
Other investments (investments carried at fair value - 2022: $1,753; 2021: $2,079)	2,782	3,193
Noncurrent receivables	537	478
Total investments	5,181	5,716
Property	57,180	57,604
Less: Accumulated depreciation	37,020	37,049
Net property	20,160	20,555
Goodwill	8,605	8,764
Other intangible assets (net of accumulated amortization - 2022: $4,833; 2021: $4,725)	2,616	2,881
Operating lease right-of-use assets	1,272	1,412
Deferred income tax assets	1,118	1,358
Deferred charges and other assets	1,422	1,456
Total other assets	15,033	15,871
Total Assets	62,143	62,990
Notes payable	295	161
Long-term debt due within one year	361	231
Accounts payable - Trade	5,693	5,577
Accounts payable - Other	2,824	2,839
Operating lease liabilities - current	290	314
Income taxes payable	462	623
Accrued Liabilities, Current	3,384	3,481
Total current liabilities	13,309	13,226
Long-Term Debt	13,065	14,280
Deferred income tax liabilities	752	506
Pension and other postretirement benefits - noncurrent	6,934	7,557
Asbestos-related liabilities - noncurrent	887	931
Operating lease liabilities - noncurrent	1,043	1,149
Other noncurrent obligations	6,646	6,602
Total other noncurrent liabilities	16,262	16,745
Common stock (authorized 5,000,000,000 shares of $0.01 par value each; issued 2022: 768,558,885 shares; 2021: 764,226,882 shares)	8	8
Additional Paid in Capital, Common Stock	8,343	8,151
Retained earnings	22,827	20,623
Accumulated other comprehensive loss	(9,204)	(8,977)
Unearned ESOP shares	0	(15)
Treasury stock at cost (2022: 50,391,408 shares; 2021: 29,011,573 shares)	(3,001)	(1,625)
Dow Inc.’s stockholders’ equity	18,973	18,165
Noncontrolling interests	534	574
Total equity	19,507	18,739
Total Liabilities and Equity	$ 62,143	$ 62,990

Dow Consolidated Balance Shee_2

Dow Consolidated Balance Sheets Parentheticals - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 212	$ 54
Investments, Fair Value Disclosure	1,753	2,079
Finite-Lived Intangible Assets, Accumulated Amortization	$ 4,833	$ 4,725
Common Stock, Shares Authorized	5,000,000,000	5,000,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares, Issued	768,558,885	764,226,882
Treasury Stock, Common, Shares	50,391,408	29,011,573

Dow Consolidated Statements o_3

Dow Consolidated Statements of Cash Flows Statement - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Net income	$ 3,233	$ 2,938
Depreciation and amortization	1,436	1,462
Provision for deferred income tax	348	388
Earnings of nonconsolidated affiliates less than (in excess of) dividends received	289	(283)
Net periodic pension benefit cost	14	29
Pension contributions	(89)	(1,109)
Net (gain) loss on sales of assets, businesses and investments	6	(50)
Restructuring and asset related charges - net	186	22
Other net loss	92	224
Accounts and notes receivable	(767)	(1,903)
Inventories	(908)	(1,278)
Accounts payable	69	1,357
Other assets and liabilities, net	(441)	(4)
Cash provided by operating activities - continuing operations	3,468	1,793
Cash used for operating activities - discontinued operations	(11)	(80)
Cash provided by operating activities	3,457	1,713
Capital expenditures	(772)	(622)
Investment in gas field developments	(80)	(24)
Purchases of previously leased assets	(3)	(3)
Proceeds from sales of property and businesses, net of cash divested	5	10
Acquisitions of property and businesses, net of cash acquired	0	(107)
Investments in and loans to nonconsolidated affiliates	(33)	0
Distributions and loan repayments from nonconsolidated affiliates	10	11
Proceeds from sales of ownership interests in nonconsolidated affiliates	11	0
Purchases of investments	(278)	(560)
Proceeds from sales and maturities of investments	418	527
Other investing activities, net	(41)	0
Cash used for investing activities	(763)	(768)
Changes in short-term notes payable	180	(38)
Proceeds from issuance of short-term debt greater than three months	0	72
Payments on short-term debt greater than three months	(14)	0
Proceeds from issuance of long-term debt	49	68
Payments on long-term debt	(927)	(1,425)
Purchases of treasury stock	(1,400)	(200)
Proceeds from issuance of stock	97	200
Transaction financing, debt issuance and other costs	(7)	(95)
Employee taxes paid for share-based payment arrangements	(34)	(11)
Distributions to noncontrolling interests	(22)	(28)
Dividends paid to stockholders	(1,018)	(1,043)
Cash used for financing activities	(3,096)	(2,500)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(162)	(12)
Decrease in cash, cash equivalents and restricted cash	(564)	(1,567)
Cash, cash equivalents and restricted cash at beginning of period	3,033	5,108
Cash, cash equivalents and restricted cash at end of period	2,469	3,541
Less: Restricted cash and cash equivalents, included in "Other current assets"	102	50
Cash and cash equivalents and end of period	$ 2,367	$ 3,491

Dow Consolidated Statements o_4

Dow Consolidated Statements of Equity Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Unearned ESOP Shares [Member]	Treasury Stock, Common
Total equity		$ 8	$ 7,595	$ 16,361	$ (10,855)	$ (49)	$ (625)
Stock Issued During Period, Value, Common Stock			200
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			103			17
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans			0
Net Income (Loss) Available to Common Stockholders, Basic	$ 2,877			2,892
Dividends, Common Stock				(1,043)
Stockholders' Equity, Other				(10)
Other Comprehensive Income (Loss), Net of Tax	$ 1,179				1,179
Treasury Stock, Value, Acquired, Cost Method							(200)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans							0
Common Stock, Dividends, Per Share, Declared	$ 1.40
Total equity		8	7,743	16,829	(9,913)	(39)	(625)
Stock Issued During Period, Value, Common Stock			73
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			82			7
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans			0
Net Income (Loss) Available to Common Stockholders, Basic	$ 1,891			1,901
Dividends, Common Stock				(522)
Stockholders' Equity, Other				(8)
Other Comprehensive Income (Loss), Net of Tax	$ 237				237
Treasury Stock, Value, Acquired, Cost Method							(200)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans							0
Common Stock, Dividends, Per Share, Declared	$ 0.70
Dow Inc.’s stockholders’ equity	$ 15,573
Noncontrolling interests	580
Total equity	16,153	8	7,898	18,200	(9,676)	(32)	(825)
Dow Inc.’s stockholders’ equity	18,165
Noncontrolling interests	574
Total equity	18,739	8	8,151	20,623	(8,977)	(15)	(1,625)
Stock Issued During Period, Value, Common Stock			97
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			119			15
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans			(24)
Net Income (Loss) Available to Common Stockholders, Basic	3,213			3,230
Dividends, Common Stock				(1,018)
Stockholders' Equity, Other				(8)
Other Comprehensive Income (Loss), Net of Tax	$ (227)				(227)
Treasury Stock, Value, Acquired, Cost Method							(1,400)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans							24
Common Stock, Dividends, Per Share, Declared	$ 1.40
Total equity		8	8,217	21,672	(8,796)	0	(2,221)
Stock Issued During Period, Value, Common Stock			62
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			84			0
APIC, Stock Issued During Period, Value, Treasury Reissued - compensation and benefit plans			(20)
Net Income (Loss) Available to Common Stockholders, Basic	$ 1,652			1,661
Dividends, Common Stock				(505)
Stockholders' Equity, Other				(1)
Other Comprehensive Income (Loss), Net of Tax	$ (408)				(408)
Treasury Stock, Value, Acquired, Cost Method							(800)
Stock Issued During Period, Value Treasury Stock Reissued - compensation and benefit plans							20
Common Stock, Dividends, Per Share, Declared	$ 0.70
Dow Inc.’s stockholders’ equity	$ 18,973
Noncontrolling interests	534
Total equity	$ 19,507	$ 8	$ 8,343	$ 22,827	$ (9,204)	$ 0	$ (3,001)

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net sales	$ 15,664	$ 13,885	$ 30,928	$ 25,767
Cost of sales	12,899	10,740	25,301	20,802
Research and development expenses	217	228	435	422
Selling, general and administrative expenses	435	440	933	806
Amortization of intangibles	85	100	173	201
Restructuring and asset related charges - net	0	22	186	22
Equity in earnings of nonconsolidated affiliates	195	278	369	502
Sundry income (expense) - net	75	(3)	223	125
Interest income	36	13	64	21
Interest expense and amortization of debt discount	165	187	332	383
Income before income taxes	2,169	2,456	4,224	3,779
Provision for income taxes	488	524	991	841
Net income	1,681	1,932	3,233	2,938
Net income attributable to noncontrolling interests	20	31	3	46
Net income available for The Dow Chemical Company common stockholder	1,661	1,901	3,230	2,892
The Dow Chemical Company
Net sales	15,664	13,885	30,928	25,767
Cost of sales	12,899	10,739	25,297	20,800
Research and development expenses	217	228	435	422
Selling, general and administrative expenses	434	440	932	806
Amortization of intangibles	85	100	173	201
Restructuring and asset related charges - net	0	22	186	22
Equity in earnings of nonconsolidated affiliates	195	278	369	502
Sundry income (expense) - net	78	6	214	125
Interest income	38	13	66	21
Interest expense and amortization of debt discount	165	187	332	383
Income before income taxes	2,175	2,466	4,222	3,781
Provision for income taxes	488	521	991	838
Net income	1,687	1,945	3,231	2,943
Net income attributable to noncontrolling interests	20	31	3	46
Net income available for The Dow Chemical Company common stockholder	$ 1,667	$ 1,914	$ 3,228	$ 2,897

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 1,681	$ 1,932	$ 3,233	$ 2,938
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on investments	(153)	17	(249)	(32)
Cumulative translation adjustments	(514)	65	(678)	(188)
Pension and other postretirement benefit plans	122	149	231	1,283
Derivative instruments	137	6	469	116
Other Comprehensive Income (Loss), Net of Tax	(408)	237	(227)	1,179
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	1,273	2,169	3,006	4,117
Comprehensive income attributable to noncontrolling interests, net of tax	20	31	3	46
Comprehensive income attributable to The Dow Chemical Company	1,253	2,138	3,003	4,071
The Dow Chemical Company
Net income	1,687	1,945	3,231	2,943
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on investments	(153)	17	(249)	(32)
Cumulative translation adjustments	(514)	65	(678)	(188)
Pension and other postretirement benefit plans	122	149	231	1,283
Derivative instruments	137	6	469	116
Other Comprehensive Income (Loss), Net of Tax	(408)	237	(227)	1,179
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	1,279	2,182	3,004	4,122
Comprehensive income attributable to noncontrolling interests, net of tax	20	31	3	46
Comprehensive income attributable to The Dow Chemical Company	$ 1,259	$ 2,151	$ 3,001	$ 4,076

TDCC Consolidated Balance Sheet

TDCC Consolidated Balance Sheets (Statement) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents, at Carrying Value	$ 2,367	$ 2,988
Trade (net of allowance for doubtful receivables - 2022: $212; 2021: $54)	7,474	6,841
Other	2,243	2,713
Inventories	8,225	7,372
Other current assets	1,460	934
Total current assets	21,769	20,848
Investment in nonconsolidated affiliates	1,862	2,045
Other investments (investments carried at fair value - 2022: $1,753; 2021: $2,079)	2,782	3,193
Noncurrent receivables	537	478
Total investments	5,181	5,716
Property	57,180	57,604
Less: Accumulated depreciation	37,020	37,049
Net property	20,160	20,555
Goodwill	8,605	8,764
Other intangible assets (net of accumulated amortization - 2022: $4,833; 2021: $4,725)	2,616	2,881
Operating lease right-of-use assets	1,272	1,412
Deferred income tax assets	1,118	1,358
Deferred charges and other assets	1,422	1,456
Total other assets	15,033	15,871
Total Assets	62,143	62,990
Notes payable	295	161
Long-term debt due within one year	361	231
Accounts payable - Trade	5,693	5,577
Accounts payable - Other	2,824	2,839
Operating lease liabilities - current	290	314
Income taxes payable	462	623
Accrued Liabilities, Current	3,384	3,481
Total current liabilities	13,309	13,226
Long-Term Debt	13,065	14,280
Deferred income tax liabilities	752	506
Pension and other postretirement benefits - noncurrent	6,934	7,557
Asbestos-related liabilities - noncurrent	887	931
Operating lease liabilities - noncurrent	1,043	1,149
Other noncurrent obligations	6,646	6,602
Total other noncurrent liabilities	16,262	16,745
Common stock (authorized and issued 100 shares of $0.01 par value each)	8	8
Additional Paid in Capital, Common Stock	8,343	8,151
Retained earnings	22,827	20,623
Accumulated other comprehensive loss	(9,204)	(8,977)
Unearned ESOP shares	0	(15)
Dow Inc.’s stockholders’ equity	18,973	18,165
Noncontrolling interests	534	574
Total equity	19,507	18,739
Total Liabilities and Equity	62,143	62,990
The Dow Chemical Company
Cash and Cash Equivalents, at Carrying Value	2,367	2,988
Trade (net of allowance for doubtful receivables - 2022: $212; 2021: $54)	7,474	6,841
Other	2,242	2,712
Inventories	8,225	7,372
Other current assets	1,425	924
Total current assets	21,733	20,837
Investment in nonconsolidated affiliates	1,862	2,045
Other investments (investments carried at fair value - 2022: $1,753; 2021: $2,079)	2,782	3,193
Noncurrent receivables	527	452
Total investments	5,171	5,690
Property	57,180	57,604
Less: Accumulated depreciation	37,020	37,049
Net property	20,160	20,555
Goodwill	8,605	8,764
Other intangible assets (net of accumulated amortization - 2022: $4,833; 2021: $4,725)	2,616	2,881
Operating lease right-of-use assets	1,272	1,412
Deferred income tax assets	1,118	1,358
Deferred charges and other assets	1,421	1,455
Total other assets	15,032	15,870
Total Assets	62,096	62,952
Notes payable	295	161
Long-term debt due within one year	361	231
Accounts payable - Trade	5,692	5,577
Accounts payable - Other	2,824	2,841
Operating lease liabilities - current	290	314
Income taxes payable	462	623
Accrued Liabilities, Current	3,232	3,299
Total current liabilities	13,156	13,046
Long-Term Debt	13,065	14,280
Deferred income tax liabilities	752	506
Pension and other postretirement benefits - noncurrent	6,934	7,557
Asbestos-related liabilities - noncurrent	887	931
Operating lease liabilities - noncurrent	1,043	1,149
Other noncurrent obligations	6,505	6,454
Total other noncurrent liabilities	16,121	16,597
Common stock (authorized and issued 100 shares of $0.01 par value each)	0	0
Additional Paid in Capital, Common Stock	8,375	8,159
Retained earnings	20,049	19,288
Accumulated other comprehensive loss	(9,204)	(8,977)
Unearned ESOP shares	0	(15)
Dow Inc.’s stockholders’ equity	19,220	18,455
Noncontrolling interests	534	574
Total equity	19,754	19,029
Total Liabilities and Equity	$ 62,096	$ 62,952

TDCC Consolidated Statements of

TDCC Consolidated Statements of Cash Flows Statement - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 3,233	$ 2,938
Depreciation and amortization	1,436	1,462
Provision for deferred income tax	348	388
Earnings of nonconsolidated affiliates less than (in excess of) dividends received	289	(283)
Net periodic pension benefit cost	14	29
Pension contributions	(89)	(1,109)
Net (gain) loss on sales of assets, businesses and investments	6	(50)
Restructuring and asset related charges - net	186	22
Other net loss	92	224
Accounts and notes receivable	(767)	(1,903)
Inventories	(908)	(1,278)
Accounts payable	69	1,357
Other assets and liabilities, net	(441)	(4)
Cash provided by operating activities	3,457	1,713
Capital expenditures	(772)	(622)
Investment in gas field developments	(80)	(24)
Purchases of previously leased assets	(3)	(3)
Proceeds from sales of property and businesses, net of cash divested	5	10
Acquisitions of property and businesses, net of cash acquired	0	(107)
Investments in and loans to nonconsolidated affiliates	(33)	0
Distributions and loan repayments from nonconsolidated affiliates	10	11
Proceeds from sales of ownership interests in nonconsolidated affiliates	11	0
Purchases of investments	(278)	(560)
Proceeds from sales and maturities of investments	418	527
Other investing activities, net	(41)	0
Cash used for investing activities	(763)	(768)
Changes in short-term notes payable	180	(38)
Proceeds from issuance of short-term debt greater than three months	0	72
Payments on short-term debt greater than three months	(14)	0
Proceeds from issuance of long-term debt	49	68
Payments on long-term debt	(927)	(1,425)
Proceeds from issuance of stock	97	200
Transaction financing, debt issuance and other costs	(7)	(95)
Employee taxes paid for share-based payment arrangements	(34)	(11)
Distributions to noncontrolling interests	(22)	(28)
Dividends paid to stockholders	(1,018)	(1,043)
Cash used for financing activities	(3,096)	(2,500)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(162)	(12)
Decrease in cash, cash equivalents and restricted cash	(564)	(1,567)
Cash, cash equivalents and restricted cash at beginning of period	3,033	5,108
Cash, cash equivalents and restricted cash at end of period	2,469	3,541
Less: Restricted cash and cash equivalents, included in "Other current assets"	102	50
Cash and cash equivalents and end of period	2,367	3,491
The Dow Chemical Company
Net income	3,231	2,943
Depreciation and amortization	1,436	1,462
Provision for deferred income tax	348	388
Earnings of nonconsolidated affiliates less than (in excess of) dividends received	289	(283)
Net periodic pension benefit cost	14	29
Pension contributions	(89)	(1,109)
Net (gain) loss on sales of assets, businesses and investments	6	(50)
Restructuring and asset related charges - net	186	22
Other net loss	97	224
Accounts and notes receivable	(767)	(1,903)
Inventories	(908)	(1,278)
Accounts payable	69	1,357
Other assets and liabilities, net	(419)	110
Cash provided by operating activities	3,493	1,912
Capital expenditures	(772)	(622)
Investment in gas field developments	(80)	(24)
Purchases of previously leased assets	(3)	(3)
Proceeds from sales of property and businesses, net of cash divested	5	10
Acquisitions of property and businesses, net of cash acquired	0	(107)
Investments in and loans to nonconsolidated affiliates	(33)	0
Distributions and loan repayments from nonconsolidated affiliates	10	11
Proceeds from sales of ownership interests in nonconsolidated affiliates	11	0
Purchases of investments	(278)	(560)
Proceeds from sales and maturities of investments	418	527
Other investing activities, net	(41)	0
Cash used for investing activities	(763)	(768)
Changes in short-term notes payable	180	(38)
Proceeds from issuance of short-term debt greater than three months	0	72
Payments on short-term debt greater than three months	(14)	0
Proceeds from issuance of long-term debt	49	68
Payments on long-term debt	(927)	(1,425)
Proceeds from issuance of stock	97	200
Transaction financing, debt issuance and other costs	(7)	(95)
Employee taxes paid for share-based payment arrangements	(34)	(11)
Distributions to noncontrolling interests	(22)	(28)
Dividends paid to stockholders	(2,454)	(1,442)
Cash used for financing activities	(3,132)	(2,699)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(162)	(12)
Decrease in cash, cash equivalents and restricted cash	(564)	(1,567)
Cash, cash equivalents and restricted cash at beginning of period	3,033	5,108
Cash, cash equivalents and restricted cash at end of period	2,469	3,541
Less: Restricted cash and cash equivalents, included in "Other current assets"	102	50
Cash and cash equivalents and end of period	$ 2,367	$ 3,491

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss	Unearned ESOP Shares [Member]	Dow Inc. [Member] Retained Earnings [Member]	The Dow Chemical Company	The Dow Chemical Company Common Stock [Member]	The Dow Chemical Company Additional Paid-in Capital [Member]	The Dow Chemical Company Retained Earnings [Member]	The Dow Chemical Company Accumulated Other Comprehensive Loss	The Dow Chemical Company Unearned ESOP Shares [Member]	The Dow Chemical Company Noncontrolling Interests
Total Equity, Beginning at Dec. 31, 2020		$ 8	$ 7,595	$ 16,361	$ (10,855)	$ (49)			$ 0	$ 7,603	$ 16,300	$ (10,855)	$ (49)
Stock Issued										200
Stock-based compensation and allocation of ESOP shares			103			17				103			17
Net income available for The Dow Chemical Company common stockholder	$ 2,877			2,892							2,897
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees							$ (1,442)
Other				10							(10)
Other comprehensive income	1,179				1,179			$ 1,179				1,179
Total Equity, Ending at Jun. 30, 2021	16,153	8	7,898	18,200	(9,676)	(32)		16,523	0	7,906	17,745	(9,676)	(32)	$ 580
Total Equity, Beginning at Mar. 31, 2021		8	7,743	16,829	(9,913)	(39)			0	7,751	16,577	(9,913)	(39)
Stock Issued										73
Stock-based compensation and allocation of ESOP shares			82			7				82			7
Net income available for The Dow Chemical Company common stockholder	1,891			1,901							1,914
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees							(739)
Other				8							(7)
Other comprehensive income	237				237			237				237
Total Equity, Ending at Jun. 30, 2021	16,153	8	7,898	18,200	(9,676)	(32)		16,523	0	7,906	17,745	(9,676)	(32)	580
The Dow Chemical Company’s stockholders’ equity	15,573							15,943
The Dow Chemical Company’s stockholders’ equity	18,165							18,455
Total Equity, Beginning at Dec. 31, 2021	18,739	8	8,151	20,623	(8,977)	(15)		19,029	0	8,159	19,288	(8,977)	(15)
Stock Issued										97
Stock-based compensation and allocation of ESOP shares			119			15				119			15
Net income available for The Dow Chemical Company common stockholder	3,213			3,230							3,228
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees							(2,454)
Other				8							(13)
Other comprehensive income	(227)				(227)			(227)				(227)
Total Equity, Ending at Jun. 30, 2022	19,507	8	8,343	22,827	(9,204)	0		19,754	0	8,375	20,049	(9,204)	0	534
Total Equity, Beginning at Mar. 31, 2022		8	8,217	21,672	(8,796)	0			0	8,229	19,721	(8,796)	0
Stock Issued										62
Stock-based compensation and allocation of ESOP shares			84			0				84			0
Net income available for The Dow Chemical Company common stockholder	1,652			1,661							1,667
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees							$ (1,333)
Other				1							(6)
Other comprehensive income	(408)				(408)			(408)				(408)
Total Equity, Ending at Jun. 30, 2022	19,507	$ 8	$ 8,343	$ 22,827	$ (9,204)	$ 0		19,754	$ 0	$ 8,375	$ 20,049	$ (9,204)	$ 0	$ 534
The Dow Chemical Company’s stockholders’ equity	$ 18,973							$ 19,220

Dow Consolidated Statements o_5

Dow Consolidated Statements of Income - Supplemental Info - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Supplemental Income Statement Elements [Abstract]
Depreciation	$ 486	$ 518	$ 977	$ 1,033
Capital expenditures	$ 457	$ 333	$ 772	$ 622

TDCC Consolidated Statements _2

TDCC Consolidated Statements of Income - Supplemental Info - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Depreciation	$ 486	$ 518	$ 977	$ 1,033
Capital expenditures	457	333	772	622
The Dow Chemical Company
Depreciation	486	518	977	1,033
Capital expenditures	$ 457	$ 333	$ 772	$ 622

TDCC Consolidated Balance She_2

TDCC Consolidated Balance Sheets Parentheticals - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 212	$ 54
Investments, Fair Value Disclosure	1,753	2,079
Finite-Lived Intangible Assets, Accumulated Amortization	$ 4,833	$ 4,725
Common Stock, Shares, Issued	768,558,885	764,226,882
Common Stock, Shares Authorized	5,000,000,000	5,000,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
The Dow Chemical Company
Accounts Receivable, Allowance for Credit Loss, Current	$ 212	$ 54
Finite-Lived Intangible Assets, Accumulated Amortization	$ 4,833	$ 4,725
Common Stock, Shares, Issued	100	100
Common Stock, Shares Authorized	100	100
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01

CONSOLIDATED FINANCIAL STATEMEN

CONSOLIDATED FINANCIAL STATEMENTS (Notes)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED FINANCIAL STATEMENTS	CONSOLIDATED FINANCIAL STATEMENTS Basis of Presentation Dow Inc. is the direct parent company of The Dow Chemical Company and its consolidated subsidiaries ("TDCC" and together with Dow Inc., "Dow" or the "Company"). The unaudited interim consolidated financial statements of Dow Inc. and TDCC were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect all adjustments (including normal recurring accruals) which, in the opinion of management, are considered necessary for the fair presentation of the results for the periods presented. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the combined Dow Inc. and TDCC Annual Report on Form 10-K for the year ended December 31, 2021 ("2021 10-K"). As a result of the parent/subsidiary relationship between Dow Inc. and TDCC, and considering that the financial statements and disclosures of each company are substantially similar, the companies are filing a combined report for this Quarterly Report on Form 10-Q. The information reflected in the report is equally applicable to both Dow Inc. and TDCC, except where otherwise noted. Transactions between TDCC and Dow Inc. are treated as related party transactions for TDCC. See Note 21 for additional information. Except as otherwise indicated by the context, the term "Union Carbide" means Union Carbide Corporation and the term "Dow Silicones" means Dow Silicones Corporation, both wholly owned subsidiaries of the Company.

SEPARATION FROM DOWDUPONT Separ

SEPARATION FROM DOWDUPONT Separation from DowDuPont (Notes)	6 Months Ended
	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Separation from DowDuPont [Text Block]	SEPARATION FROM DOWDUPONT For additional information on the separation from DowDuPont Inc. ("DowDuPont"), see Note 3 to the Consolidated Financial Statements included in the 2021 10-K. Agreements Related to the Separation and Distribution The impacts of indemnifications and other post-separation matters relating to Dow's separation from DowDuPont were primarily included in the consolidated financial statements of Dow Inc. At June 30, 2022, the Company had assets of $19 million (zero at December 31, 2021) included in "Other current assets" and $2 million ($20 million at December 31, 2021) included in "Noncurrent receivables," and liabilities of $123 million ($148 million at December 31, 2021) included in "Accrued and other current liabilities" and $33 million ($39 million at December 31, 2021) included in "Other noncurrent obligations" in the consolidated balance sheets of Dow Inc. related to these agreements. In addition, the Company deferred a portion of the cash distribution received from DowDuPont at separation and recorded an associated liability with an offset to "Retained earnings" in the consolidated balance sheets of Dow Inc. At June 30, 2022, $10 million ($15 million at December 31, 2021) of this liability was recorded in "Accrued and other current liabilities" and $96 million ($96 million at December 31, 2021) was recorded in "Other noncurrent obligations" in the consolidated balance sheets of Dow Inc.

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE Revenue Recognition The majority of the Company's revenue is derived from product sales. The Company's revenue related to product sales was 99 percent for the three and six months ended June 30, 2022 (98 percent for the three and six months ended June 30, 2021). The remaining sales were primarily related to the Company's insurance operations and licensing of patents and technologies. Product sales consist of sales of the Company's products to manufacturers and distributors. The Company considers order confirmations or purchase orders, which in some cases are governed by master supply agreements, to be contracts with a customer. The Company enters into licensing arrangements in which it licenses certain rights of its patents and technology to customers. Revenue from the Company’s licenses for patents and technology is derived from sales-based royalties and licensing arrangements based on billing schedules established in each contract. Remaining Performance Obligations Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. At June 30, 2022, the Company had unfulfilled performance obligations of $911 million ($829 million at December 31, 2021) related to the licensing of technology. The Company expects revenue to be recognized for the remaining performance obligations over the next five years. The remaining performance obligations are for product sales that have expected durations of one year or less, product sales of materials delivered through a pipeline for which the Company has elected the right to invoice practical expedient, or variable consideration attributable to royalties for licenses of patents and technology. The Company has received advance payments from customers related to long-term supply agreements that are deferred and recognized over the life of the contract, with remaining contract terms that range up to 18 years. The Company will have rights to future consideration for revenue recognized when product is delivered to the customer. These payments are included in "Accrued and other current liabilities" and "Other noncurrent obligations" in the consolidated balance sheets. Disaggregation of Revenue The Company disaggregates its revenue from contracts with customers by operating segment and business, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows. See details in the tables below: Net Trade Sales by Segment and Business Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Hydrocarbons & Energy $ 2,779 $ 2,008 $ 5,195 $ 3,759 Packaging and Specialty Plastics 5,454 5,113 10,665 9,444 Packaging & Specialty Plastics $ 8,233 $ 7,121 $ 15,860 $ 13,203 Industrial Solutions $ 1,446 $ 1,201 $ 2,961 $ 2,250 Polyurethanes & Construction Chemicals 2,919 3,012 5,924 5,568 Other 5 2 9 4 Industrial Intermediates & Infrastructure $ 4,370 $ 4,215 $ 8,894 $ 7,822 Coatings & Performance Monomers $ 1,129 $ 1,010 $ 2,204 $ 1,865 Consumer Solutions 1,874 1,455 3,848 2,723 Performance Materials & Coatings $ 3,003 $ 2,465 $ 6,052 $ 4,588 Corporate $ 58 $ 84 $ 122 $ 154 Total $ 15,664 $ 13,885 $ 30,928 $ 25,767 Net Trade Sales by Geographic Region Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 U.S. & Canada $ 5,707 $ 4,927 $ 11,244 $ 8,955 EMEAI 1 5,677 5,102 11,189 9,431 Asia Pacific 2,673 2,479 5,426 4,844 Latin America 1,607 1,377 3,069 2,537 Total $ 15,664 $ 13,885 $ 30,928 $ 25,767 1. Europe, Middle East, Africa and India. Contract Assets and Liabilities The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts related to the Company's contractual right to consideration for completed performance obligations not yet invoiced. Contract liabilities include payments received in advance of performance under the contract and are recognized in revenue when the performance obligations are met. "Contract liabilities - current" primarily reflects deferred revenue from prepayments from customers for product to be delivered in 12 months or less and royalty payments that are deferred and will be recognized in 12 months or less. "Contract liabilities - noncurrent" includes advance payments that the Company has received from customers related to long-term supply agreements and royalty payments that are deferred and recognized over the life of the contract. Revenue recognized in the first six months of 2022 from amounts included in contract liabilities at the beginning of the period was approximately $105 million (approximately $180 million in the first six months of 2021). In the first six months of 2022 and 2021, the amount of contract assets reclassified to receivables as a result of the right to the transaction consideration becoming unconditional was insignificant. The following table summarizes contract assets and liabilities at June 30, 2022 and December 31, 2021: Contract Assets and Liabilities Balance Sheet Classification Jun 30, 2022 Dec 31, 2021 In millions Accounts and notes receivable - trade Accounts and notes receivable - trade $ 7,474 $ 6,841 Contract assets - current Other current assets $ 36 $ 34 Contract assets - noncurrent Deferred charges and other assets $ 25 $ 26 Contract liabilities - current Accrued and other current liabilities $ 259 $ 209 Contract liabilities - noncurrent 1 Other noncurrent obligations $ 1,818 $ 1,925 1. The decrease from December 31, 2021 to June 30, 2022 was due to the recognition of revenue on long-term product supply agreements and reclassification of deferred royalty payments from noncurrent to current.

RESTRUCTURING AND ASSET RELATED

RESTRUCTURING AND ASSET RELATED CHARGES - NET (Notes)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	RESTRUCTURING AND ASSET RELATED CHARGES - NET Charges for restructuring programs and other asset related charges, which includes asset impairments, are recorded in "Restructuring and asset related charges - net" in the consolidated statements of income. For additional information on the Company's restructuring programs, see Note 6 to the Consolidated Financial Statements included in the 2021 10-K. 2020 Restructuring Program Actions related to the restructuring program approved by the Board of Dow Inc. on September 29, 2020 ("2020 Restructuring Program") were substantially complete at the end of 2021, with the exception of certain cash payments that will continue through 2022 and into 2023. The following table summarizes the activities related to the 2020 Restructuring Program since January 1, 2021: 2020 Restructuring Program Severance and Related Benefit Costs Asset Write-downs and Write-offs Costs Associated with Exit and Disposal Activities Total In millions Reserve balance at Jan 1, 2021 $ 289 $ — $ 75 $ 364 Cash payments (37) — (12) (49) Reserve balance at Mar 31, 2021 $ 252 $ — $ 63 $ 315 Packaging & Specialty Plastics $ — $ — $ 8 $ 8 Industrial Intermediates & Infrastructure — 1 — 1 Performance Materials & Coatings — 8 2 10 Corporate — 3 — 3 Total restructuring charges $ — $ 12 $ 10 $ 22 Charges against the reserve — (12) — (12) Cash payments (53) — (3) (56) Reserve balance at Jun 30, 2021 $ 199 $ — $ 70 $ 269 Cash payments (55) — (2) (57) Reserve balance at Sep 30, 2021 $ 144 $ — $ 68 $ 212 Restructuring charges - Corporate $ (10) $ — $ — $ (10) Cash payments (30) — (4) (34) Reserve balance at Dec 31, 2021 $ 104 $ — $ 64 $ 168 Cash payments (59) — (1) (60) Reserve balance at Mar 31, 2022 $ 45 $ — $ 63 $ 108 Cash payments (8) — (2) (10) Reserve balance at Jun 30, 2022 $ 37 $ — $ 61 $ 98 At June 30, 2022, $44 million of the reserve balance was included in "Accrued and other current liabilities" ($112 million at December 31, 2021) and $54 million was included in "Other noncurrent obligations" ($56 million at December 31, 2021) in the consolidated balance sheets. The Company recorded pretax restructuring charges of $585 million inception-to-date under the 2020 Restructuring Program, consisting of severance and related benefit costs of $287 million, asset write-downs and write-offs of $208 million and costs associated with exit and disposal activities of $90 million. The Company 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 implementation costs; these costs will be recognized as incurred. The Company 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. 2022 Asset Related Charges In the first quarter of 2022, the Company recorded pretax asset related charges of $186 million due to the Russia and Ukraine conflict and the expectation that certain assets will not be recoverable. These charges included the write-down of inventory, the recording of bad debt reserves and the impairment of other assets. Asset related charges by segment were as follows: $31 million in Packaging & Specialty Plastics, $109 million in Industrial Intermediates & Infrastructure, $16 million in Performance Materials & Coatings and $30 million in Corporate.

SUPPLEMENTARY INFORMATION (Note

SUPPLEMENTARY INFORMATION (Notes)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary Information Disclosure [Text Block]	SUPPLEMENTARY INFORMATION Dow Inc. Sundry Income (Expense) – Net Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Non-operating pension and other postretirement benefit plan net credits 1 $ 89 $ 86 $ 178 $ 161 Foreign exchange losses (17) (8) (15) (16) Loss on early extinguishment of debt 2 (8) (102) (8) (102) Gains on sales of other assets and investments 12 14 43 62 Indemnification and other transaction related costs 3 (8) (5) 4 (5) Other - net 7 12 21 25 Total sundry income (expense) – net $ 75 $ (3) $ 223 $ 125 1. See Note 16 for additional information. 2. See Note 11 for additional information. 3. See Note 2 for additional information. TDCC Sundry Income (Expense) – Net Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Non-operating pension and other postretirement benefit plan net credits 1 $ 89 $ 86 $ 178 $ 161 Foreign exchange losses (22) (4) (20) (16) Loss on early extinguishment of debt 2 (8) (102) (8) (102) Gains on sales of other assets and investments 12 14 43 62 Other - net 7 12 21 20 Total sundry income (expense) – net $ 78 $ 6 $ 214 $ 125 1. See Note 16 for additional information. 2. See Note 11 for additional information.

EARNINGS PER SHARE (Notes)

EARNINGS PER SHARE (Notes)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	EARNINGS PER SHARE CALCULATIONS The following tables provide earnings per share calculations for Dow Inc. for the three and six months ended June 30, 2022 and 2021. Earnings per share of TDCC is not presented as this information is not required in financial statements of wholly owned subsidiaries. Net Income for Earnings Per Share Calculations Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Net income $ 1,681 $ 1,932 $ 3,233 $ 2,938 Net income attributable to noncontrolling interests 20 31 3 46 Net income attributable to participating securities 1 9 10 17 15 Net income attributable to common stockholders $ 1,652 $ 1,891 $ 3,213 $ 2,877 Earnings Per Share - Basic and Diluted Three Months Ended Six Months Ended Dollars per share Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Earnings per common share - basic $ 2.28 $ 2.53 $ 4.40 $ 3.86 Earnings per common share - diluted $ 2.26 $ 2.51 $ 4.37 $ 3.83 Share Count Information Three Months Ended Six Months Ended Shares in millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Weighted-average common shares outstanding - basic 725.7 747.0 730.2 745.9 Plus dilutive effect of equity compensation plans 5.8 5.9 5.4 5.5 Weighted-average common shares outstanding - diluted 731.5 752.9 735.6 751.4 Stock options and restricted stock units excluded from EPS calculations 2 4.0 3.8 5.4 4.8 1. Restricted stock units are considered participating securities due to the Company's practice of paying dividend equivalents on unvested shares. 2. These outstanding options to purchase shares of common stock and restricted stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.

INVENTORIES (Notes)

INVENTORIES (Notes)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The following table provides a breakdown of inventories: Inventories Jun 30, 2022 Dec 31, 2021 In millions Finished goods $ 5,174 $ 4,554 Work in process 1,994 1,615 Raw materials 1,024 822 Supplies 871 866 Total $ 9,063 $ 7,857 Adjustment of inventories to a LIFO basis (838) (485) Total inventories $ 8,225 $ 7,372

NONCONSOLIDATED AFFILIATES (Not

NONCONSOLIDATED AFFILIATES (Notes)	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
NONCONSOLIDATED AFFILIATES	NONCONSOLIDATED AFFILIATES For additional information on the Company’s nonconsolidated affiliates, see Note 12 to the Consolidated Financial Statements included in the 2021 10-K. The Company's investments in companies accounted for using the equity method ("nonconsolidated affiliates"), by classification in the consolidated balance sheets, and dividends received from nonconsolidated affiliates are shown in the following tables: Investments in Nonconsolidated Affiliates Jun 30, 2022 Dec 31, 2021 In millions Investment in nonconsolidated affiliates $ 1,862 $ 2,045 Other noncurrent obligations (103) — Net investment in nonconsolidated affiliates $ 1,759 $ 2,045 Dividends from Nonconsolidated Affiliates Six Months Ended In millions Jun 30, 2022 1 Jun 30, 2021 2 Dividends from nonconsolidated affiliates $ 736 $ 219 1. $658 million included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows and $78 million included in "Accounts and notes receivable - Other" in the consolidated balance sheets. 2. Included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows. In the first half of 2022, EQUATE Petrochemical Company K.S.C.C. ("EQUATE") paid dividends of $397 million ($79 million in the first half of 2021), reflected in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows. As a result, at June 30, 2022, the Company had a negative investment balance in EQUATE of $103 million included in "Other noncurrent obligations" (positive $115 million at December 31, 2021 included in "Investment in nonconsolidated affiliates") in the consolidated balance sheets.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS (Notes)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows changes in the carrying amount of goodwill by reportable segment: Goodwill Packaging & Specialty Plastics Industrial Intermediates & Infrastructure Performance Materials & Coatings Total In millions Net goodwill at Dec 31, 2021 $ 5,105 $ 1,096 $ 2,563 $ 8,764 Foreign currency impact (8) (4) (147) (159) Net goodwill at Jun 30, 2022 $ 5,097 $ 1,092 $ 2,416 $ 8,605 The following table provides information regarding the Company’s other intangible assets: Other Intangible Assets Jun 30, 2022 Dec 31, 2021 In millions Gross Carrying Amount Accum Amort Net Gross Carrying Amount Accum Amort Net Intangible assets with finite lives: Developed technology $ 2,633 $ (1,947) $ 686 $ 2,637 $ (1,871) $ 766 Software 1,368 (950) 418 1,396 (945) 451 Trademarks/tradenames 352 (345) 7 352 (344) 8 Customer-related 3,079 (1,591) 1,488 3,204 (1,565) 1,639 Total other intangible assets, finite lives $ 7,432 $ (4,833) $ 2,599 $ 7,589 $ (4,725) $ 2,864 In-process research and development 17 — 17 17 — 17 Total other intangible assets $ 7,449 $ (4,833) $ 2,616 $ 7,606 $ (4,725) $ 2,881 The following table provides information regarding amortization expense related to intangible assets: Amortization Expense Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Other intangible assets, excluding software $ 85 $ 100 $ 173 $ 201 Software, included in “Cost of sales” $ 20 $ 23 $ 40 $ 45 Total estimated amortization expense for 2022 and the five succeeding fiscal years, including amounts expected to be capitalized, is as follows: Estimated Amortization Expense In millions 2022 $ 415 2023 $ 381 2024 $ 362 2025 $ 271 2026 $ 196 2027 $ 164

TRANSFERS OF FINANCIAL ASSETS

TRANSFERS OF FINANCIAL ASSETS	6 Months Ended
	Jun. 30, 2022
Transfers and Servicing [Abstract]
TRANSFERS OF FINANCIAL ASSETS	TRANSFERS OF FINANCIAL ASSETS Accounts Receivable Programs The Company maintains committed accounts receivable facilities with various financial institutions, including in the United States, which expires in November 2022 (“U.S. A/R Program”) and in Europe, which expires in July 2023 (“Europe A/R Program” and together with the U.S. A/R Program, "the Programs"). Under the terms of the Programs, the Company may sell certain eligible trade accounts receivable at any point in time, up to $900 million for the U.S. A/R Program and up to €500 million for the Europe A/R Program. Under the terms of the Programs, the Company continues to service the receivables from the customer, but retains no interest in the receivables, and remits payment to the financial institutions. The Company also provides a guarantee to the financial institutions for the creditworthiness and collection of the receivables in satisfaction of the facility. See Note 12 for additional information related to guarantees. In the second quarter of 2022, the Company sold $141 million of receivables under the Programs ($391 million in the first six months of 2022; zero for the three and six months ended June 30, 2021).

NOTES PAYABLE, LONG-TERM DEBT A

NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Notes)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt Disclosure	NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Notes Payable Jun 30, 2022 Dec 31, 2021 In millions Commercial paper $ 200 $ — Notes payable to banks and other lenders 95 161 Total notes payable $ 295 $ 161 Period-end average interest rates 4.59 % 5.78 % Long-Term Debt 2022 Average Rate Jun 30, 2022 2021 Average Rate Dec 31, 2021 In millions Promissory notes and debentures: Final maturity 2022 — % $ — 8.64 % $ 121 Final maturity 2023 7.63 % 250 7.63 % 250 Final maturity 2025 5.63 % 333 5.63 % 333 Final maturity 2026 — % — 3.63 % 750 Final maturity 2028 and thereafter 1 5.15 % 9,364 5.15 % 9,363 Other facilities: Foreign currency notes and loans, various rates and maturities 1.16 % 2,492 1.17 % 2,730 InterNotes®, varying maturities through 2052 3.44 % 436 3.37 % 392 Finance lease obligations 2 826 869 Unamortized debt discount and issuance costs (275) (297) Long-term debt due within one year 3 (361) (231) Long-term debt $ 13,065 $ 14,280 1. Cost includes net fair value hedge adjustment gains of $47 million at June 30, 2022 and December 31, 2021. See Note 18 for additional information. 2. See Note 13 for additional information. 3. Presented net of current portion of unamortized debt issuance costs. Maturities of Long-Term Debt for Next Five Years at Jun 30, 2022 In millions 2022 $ 58 2023 $ 388 2024 $ 81 2025 $ 386 2026 $ 78 2027 $ 1,113 2022 Activity In the second quarter of 2022, the Company redeemed $750 million aggregate principal amount of 3.625 percent notes due May 2026. As a result of the redemption, the Company recognized a pretax loss on the early extinguishment of debt of $8 million, included in "Sundry income (expense) - net" in the consolidated statements of income and related to Corporate. In the first six months of 2022, the Company issued an aggregate principal amount of $49 million of InterNotes®. The Company also repaid approximately $121 million of long-term debt at maturity. 2021 Activity In the second quarter of 2021, the Company redeemed $208 million aggregate principal amount of 3.15 percent notes due May 2024 and $811 million aggregate principal amount of 3.50 percent notes due October 2024. As a result of the redemptions, the Company recognized a pretax loss on the early extinguishment of debt of $101 million, included in "Sundry income (expense) - net" in the consolidated statements of income and related to Corporate. In the first six months of 2021, the Company issued an aggregate principal amount of $68 million of InterNotes®, and redeemed an aggregate principal amount of $18 million at maturity. In addition, the Company voluntarily repaid an aggregate principal amount of $204 million of InterNotes® with various maturities. As a result, the Company recognized a pretax loss on the early extinguishment of debt for the three and six months ended June 30, 2021 of $1 million, included in "Sundry income (expense) - net" in the consolidated statements of income and related to Corporate. The Company also repaid approximately $120 million of long-term debt at maturity and approximately $13 million of long-term debt was repaid by consolidated variable interest entities. Available Credit Facilities The following table summarizes the Company's credit facilities: Committed and Available Credit Facilities at Jun 30, 2022 In millions Committed Credit Available Credit Maturity Date Interest Five Year Competitive Advance and Revolving Credit Facility $ 5,000 $ 5,000 November 2026 Floating rate Bilateral Revolving Credit Facility 200 200 September 2022 Floating rate Bilateral Revolving Credit Facility 200 200 November 2022 Floating rate Bilateral Revolving Credit Facility 200 200 September 2023 Floating rate Bilateral Revolving Credit Facility 250 250 September 2023 Floating rate Bilateral Revolving Credit Facility 300 300 September 2023 Floating rate Bilateral Revolving Credit Facility 300 300 December 2023 Floating rate Bilateral Revolving Credit Facility 300 300 December 2023 Floating rate Bilateral Revolving Credit Facility 100 100 October 2024 Floating rate Bilateral Revolving Credit Facility 200 200 November 2024 Floating rate Bilateral Revolving Credit Facility 100 100 March 2025 Floating rate Bilateral Revolving Credit Facility 250 250 March 2025 Floating rate Bilateral Revolving Credit Facility 100 100 March 2025 Floating rate Bilateral Revolving Credit Facility 100 100 March 2025 Floating rate Bilateral Revolving Credit Facility 100 100 March 2026 Floating rate Bilateral Revolving Credit Facility 100 100 October 2026 Floating rate Bilateral Revolving Credit Facility 150 150 November 2026 Floating rate Bilateral Revolving Credit Facility 100 100 May 2027 Floating rate Bilateral Revolving Credit Facility 350 350 June 2027 Floating rate Total committed and available credit facilities $ 8,400 $ 8,400 Debt Covenants and Default Provisions There were no material changes to the debt covenants and default provisions related to the Company's outstanding long-term debt and primary, private credit agreements in the first six months of 2022. For additional information on the Company's debt covenants and default provisions, see Note 15 to the Consolidated Financial Statements included in the 2021 10-K.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Notes)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	COMMITMENTS AND CONTINGENCIES A summary of the Company's commitments and contingencies can be found in Note 16 to the Consolidated Financial Statements included in the 2021 10-K, which is incorporated by reference herein. Environmental Matters Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. At June 30, 2022, the Company had accrued obligations of $1,238 million for probable environmental remediation and restoration costs ($1,220 million at December 31, 2021), including $241 million for the remediation of Superfund sites ($237 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 Company has accrued liabilities, although it is reasonably possible that the ultimate cost with respect to these particular matters could range up to approximately two times that amount. Consequently, it is reasonably possible that environmental remediation and restoration costs in excess of amounts accrued could have a material impact on the Company's results of operations, financial condition and cash flows. It is the opinion of the Company’s management, however, that the possibility is remote that costs in excess of the range disclosed will have a material impact on the Company’s results of operations, financial condition and cash flows. Inherent uncertainties exist in these estimates primarily due to unknown conditions, changing governmental regulations and legal standards regarding liability, and emerging remediation technologies for handling site remediation and restoration. As new or additional information becomes available and/or certain spending trends become known, management will evaluate such information in determination of the current estimate of environmental liability. Litigation Asbestos-Related Matters of Union Carbide Corporation Each quarter, Union Carbide reviews claims filed, settled and dismissed, as well as average settlement and resolution costs by disease category. Union Carbide also considers additional quantitative and qualitative factors such as the nature of pending claims, trial experience of Union Carbide and other asbestos defendants, current spending for defense and processing costs, significant appellate rulings and legislative developments, trends in the tort system, and their respective effects on expected future resolution costs. Union Carbide's management considers these factors in conjunction with the most recent actuarial study and determines whether a change in the estimate is warranted. Based on Union Carbide's review of 2022 activity, it was determined that no adjustment to the accrual was required at June 30, 2022. Union Carbide’s total asbestos-related liability for pending and future claims and defense and processing costs was $977 million at June 30, 2022 ($1,016 million at December 31, 2021). At June 30, 2022, approximately 27 percent of the recorded claim liability related to pending claims and approximately 73 percent related to future claims. Dow Silicones Chapter 11 Related Matters At June 30, 2022, Dow Silicones and its insurers have made life-to-date payments of $1,817 million to the settlement program administered by an independent claims office (the “Settlement Facility”), created to resolve breast implant and other product liability claims. At June 30, 2022, Dow Silicones estimates that it will be obligated to contribute an additional $106 million to the Settlement Facility which was included in “Accrued and other current liabilities” in the consolidated balance sheets ($130 million at December 31, 2021, which was included in “Accrued and other current liabilities” and "Other noncurrent obligations" in the consolidated balance sheets). Indemnifications with Corning Incorporated The Company had indemnification assets with Corning Incorporated of $96 million at June 30, 2022 ($95 million at December 31, 2021), which were included primarily in "Noncurrent receivables" in the consolidated balance sheets. Gain Contingency - Dow v. Nova Chemicals Corporation Patent Infringement Matter As a result of a 2017 damages judgment related to the patent infringement matter, Nova Chemicals Corporation ("Nova") was ordered to pay the Company $645 million Canadian dollars, plus pre- and post-judgment interest, for which the Company received payment of $501 million U.S. dollars in July 2017. At June 30, 2022, the Company had $341 million ($341 million at December 31, 2021) included in "Accrued and other current liabilities" in the consolidated balance sheets related to the disputed portion of the damages judgment. Gain Contingency - Dow v. Nova Chemicals Corporation Ethylene Asset Matter As a result of a 2019 damages judgment related to the ethylene asset matter, Nova was ordered to pay the Company $1.43 billion Canadian dollars (equivalent to approximately $1.08 billion U.S. dollars). In October 2019, Nova paid $1.08 billion Canadian dollars (equivalent to approximately $0.8 billion U.S. dollars) directly to the Company, and remitted $347 million Canadian dollars to the Canada Revenue Agency ("CRA") for the tax account of one of the Company's subsidiaries. In March 2020, the Company received the full refund from the CRA, equivalent to $259 million U.S. dollars. At June 30, 2022, $323 million ($323 million at December 31, 2021) was included in "Other noncurrent obligations" in the Company's consolidated balance sheets related to the disputed portion of the damages judgment. Brazilian Tax Credits In March 2017, the Federal Supreme Court of Brazil (“Brazil Supreme Court”) ruled in a leading case that a Brazilian value-added tax ("ICMS") should not be included in the base used to calculate a taxpayer's federal contribution on total revenue known as PIS/COFINS (the “2017 Decision”). Previously, three of the Company’s Brazilian subsidiaries filed lawsuits challenging the inclusion of ICMS in their calculation of PIS/COFINS, seeking recovery of excess taxes paid. In response to the 2017 Decision, the Brazilian tax authority filed an appeal seeking clarification of the amount of ICMS tax to exclude from the calculation of PIS/COFINS. In May 2021, the Brazil Supreme Court ruled in a leading case related to the amount of ICMS tax to exclude from the calculation of PIS/COFINS, which resolved two of the lawsuits filed by the Company and, in May 2022, a court decision related to the remaining lawsuit, ruling in favor of the Company's Brazilian subsidiary, became final and unappealable. As a result, the Company recorded pretax gains of $112 million in the second quarter of 2022 and $61 million in the second quarter of 2021 for certain excess PIS/COFINS paid from 2009 to 2019, plus applicable interest, which the Company expects to apply to future required federal tax payments, and the reversal of related liabilities. The pretax gains were recorded in “Cost of sales” in the consolidated statements of income. At June 30, 2022, related tax credits available and expected to be applied to future required federal tax payments totaled $139 million ($52 million at December 31, 2021). Guarantees The following table provides a summary of the final expiration, maximum future payments and recorded liability included in the consolidated balance sheets for guarantees: Guarantees Jun 30, 2022 Dec 31, 2021 In millions Final Maximum Future Payments 1 Recorded Liability Final Maximum Future Payments 1 Recorded Liability Guarantees 2038 $ 1,248 $ 210 2038 $ 1,273 $ 220 1. In addition, TDCC has provided guarantees, in proportion to the Company's 35 percent ownership interest, of all future interest payments that will become due on Sadara’s project financing debt during the grace period, which Dow's share is estimated to be $443 million at June 30, 2022 ($446 million at December 31, 2021). Based on Sadara's current forecasted cash flows, the Company does not expect to be required to perform under the guarantees. Guarantees arise during the ordinary course of business from relationships with customers, committed accounts receivable facilities and nonconsolidated affiliates when the Company undertakes an obligation to guarantee the performance of others (via delivery of cash or other assets) if specified triggering events occur. With guarantees, such as commercial or financial contracts, non-performance by the guaranteed party triggers the obligation of the Company to make payments to the beneficiary of the guarantee. The majority of the Company’s guarantees relate to debt of nonconsolidated affiliates, which have expiration dates ranging from less than 1 year to 16 years. The Company’s current expectation is that future payment or performance related to the non-performance of others is considered remote.

LEASES (Notes)

LEASES (Notes)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lessee, Operating And Finance Leases	LEASES For additional information on the Company's leases, see Note 17 to the Consolidated Financial Statements included in the 2021 10-K. The components of lease cost for operating and finance leases for the three and six months ended June 30, 2022 and 2021 were as follows: Lease Cost Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Operating lease cost $ 99 $ 118 $ 196 $ 239 Finance lease cost Amortization of right-of-use assets - finance $ 26 $ 19 $ 52 $ 34 Interest on lease liabilities - finance 9 6 17 13 Total finance lease cost $ 35 $ 25 $ 69 $ 47 Short-term lease cost 66 71 125 120 Variable lease cost 133 79 248 150 Sublease income (3) (1) (6) (3) Total lease cost $ 330 $ 292 $ 632 $ 553 The following table provides supplemental cash flow and other information related to leases: Other Lease Information Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 196 $ 245 Operating cash flows for finance leases $ 17 $ 13 Financing cash flows for finance leases $ 53 $ 29 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 37 $ 57 Finance leases $ 27 $ 72 The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at June 30, 2022 and December 31, 2021: Lease Position Balance Sheet Classification Jun 30, 2022 Dec 31, 2021 In millions Assets Operating lease assets Operating lease right-of-use assets $ 1,272 $ 1,412 Finance lease assets Property 1,145 1,158 Finance lease amortization Accumulated depreciation (395) (368) Total lease assets $ 2,022 $ 2,202 Liabilities Current Operating Operating lease liabilities - current $ 290 $ 314 Finance Long-term debt due within one year 107 106 Noncurrent Operating Operating lease liabilities - noncurrent 1,043 1,149 Finance Long-Term Debt 719 763 Total lease liabilities $ 2,159 $ 2,332 The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at June 30, 2022 and December 31, 2021 are provided below: Lease Term and Discount Rate Jun 30, 2022 Dec 31, 2021 Weighted-average remaining lease term Operating leases 7.8 years 7.9 years Finance leases 11.4 years 11.8 years Weighted-average discount rate Operating leases 4.04 % 3.72 % Finance leases 4.19 % 4.17 % The following table provides the maturities of lease liabilities at June 30, 2022: Maturities of Lease Liabilities Jun 30, 2022 In millions Operating Leases Finance Leases 2022 $ 179 $ 71 2023 289 164 2024 225 106 2025 183 76 2026 148 69 2027 and thereafter 567 551 Total future undiscounted lease payments $ 1,591 $ 1,037 Less: Imputed interest 258 211 Total present value of lease liabilities $ 1,333 $ 826 At June 30, 2022, Dow had additional leases of approximately $91 million, primarily for equipment, which had not yet commenced. These leases are expected to commence in 2022 and 2025, with lease terms of up to 16 years. Dow provides guarantees related to certain leased assets, specifying the residual value that will be available to the lessor at lease termination through the sale of the assets to the lessee or third parties. The following table provides a summary of the final expiration, maximum future payments and recorded liability included in the consolidated balance sheets for residual value guarantees at June 30, 2022 and December 31, 2021. The lease agreements do not contain any material restrictive covenants. Lease Guarantees Jun 30, 2022 Dec 31, 2021 In millions Final Expiration Maximum Future Payments Recorded Liability Final Expiration Maximum Future Payments Recorded Liability Residual value guarantees 2031 $ 259 $ — 2031 $ 280 $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (Notes)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	STOCKHOLDERS' EQUITY Treasury Stock Dow Inc. On April 1, 2019, Dow Inc.'s Board ratified the share repurchase program originally approved on March 15, 2019, authorizing up to $3 billion to be spent on the repurchase of the Company's common stock, with no expiration date. The Company completed the April 1, 2019 share repurchase program in the second quarter of 2022. On April 13, 2022, Dow Inc.'s Board approved a new share repurchase program authorizing up to $3 billion to be spent on the repurchase of the Company's common stock, with no expiration date. The Company repurchased $800 million of its common stock in the second quarter of 2022 ($1,400 million in the first six months of 2022). At June 30, 2022, approximately $2,975 million of the new share repurchase program authorization remained available for repurchases. The Company began issuing treasury shares to satisfy its obligation to make matching contributions to plan participants under The Dow Employees’ Savings Plan in the first quarter of 2022. The Company may satisfy these obligations using shares of Dow Inc. treasury stock or by issuing new shares of common stock. Accumulated Other Comprehensive Loss The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and six months ended June 30, 2022 and 2021 were as follows: Accumulated Other Comprehensive Loss Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Unrealized Gains (Losses) on Investments Beginning balance $ (37) $ 55 $ 59 $ 104 Unrealized gains (losses) on investments (203) 39 (324) (15) Tax (expense) benefit 43 (9) 67 2 Net unrealized gains (losses) on investments (160) 30 (257) (13) (Gains) losses reclassified from AOCL to net income 1 9 (17) 10 (25) Tax expense (benefit) 2 (2) 4 (2) 6 Net (gains) losses reclassified from AOCL to net income 7 (13) 8 (19) Other comprehensive income (loss), net of tax (153) 17 (249) (32) Ending balance $ (190) $ 72 $ (190) $ 72 Cumulative Translation Adjustment Beginning balance $ (1,519) $ (1,183) $ (1,355) $ (930) Gains (losses) on foreign currency translation (500) 67 (665) (150) Tax (expense) benefit (3) 1 10 (35) Net gains (losses) on foreign currency translation (503) 68 (655) (185) (Gains) losses reclassified from AOCL to net income 3 (11) (3) (23) (3) Other comprehensive income (loss), net of tax (514) 65 (678) (188) Ending balance $ (2,033) $ (1,118) $ (2,033) $ (1,118) Pension and Other Postretirement Benefits Beginning balance $ (7,225) $ (8,425) $ (7,334) $ (9,559) Gains (losses) arising during the period 4 3 — 5 1,268 Tax (expense) benefit — — — (298) Net gains (losses) arising during the period 3 — 5 970 Amortization of net loss and prior service credits reclassified from AOCL to net income 5 156 194 313 392 Tax expense (benefit) 2 (37) (45) (87) (79) Net loss and prior service credits reclassified from AOCL to net income 119 149 226 313 Other comprehensive income (loss), net of tax 122 149 231 1,283 Ending balance $ (7,103) $ (8,276) $ (7,103) $ (8,276) Derivative Instruments Beginning balance $ (15) $ (360) $ (347) $ (470) Gains (losses) on derivative instruments 260 (10) 680 112 Tax (expense) benefit (27) 8 (83) (1) Net gains (losses) on derivative instruments 233 (2) 597 111 (Gains) losses reclassified from AOCL to net income 6 (108) 9 (142) 6 Tax expense (benefit) 2 12 (1) 14 (1) Net (gains) losses reclassified from AOCL to net income (96) 8 (128) 5 Other comprehensive income (loss), net of tax 137 6 469 116 Ending balance $ 122 $ (354) $ 122 $ (354) Total AOCL ending balance $ (9,204) $ (9,676) $ (9,204) $ (9,676) 1. Reclassified to "Net sales" and "Sundry income (expense) - net." 2. Reclassified to "Provision for income taxes." 3. Reclassified to "Sundry income (expense) - net." 4. The 2021 impact relates to an interim remeasurement of U.S. pension plans due to the announced freeze of plan benefits in the first quarter of 2021. 5. These AOCL components are included in the computation of net periodic benefit cost of the Company's defined benefit pension and other postretirement benefit plans. See Note 16 for additional information. 6. Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."

NONCONTROLLING INTERESTS Noncon

NONCONTROLLING INTERESTS Noncontrolling Interests	6 Months Ended
	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest Disclosure [Text Block]	NONCONTROLLING INTERESTS Ownership interests in the Company's subsidiaries held by parties other than the Company are presented separately from the Company's equity in the consolidated balance sheets as "Noncontrolling interests." The amount of consolidated net income attributable to the Company and the noncontrolling interests are both presented on the face of the consolidated statements of income. The following table summarizes the activity for equity attributable to noncontrolling interests for the three and six months ended June 30, 2022 and 2021: Noncontrolling Interests Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Balance at beginning of period $ 545 $ 560 $ 574 $ 570 Net income attributable to noncontrolling interests 1 20 31 3 46 Distributions to noncontrolling interests 2 (14) (12) (15) (20) Cumulative translation adjustments (16) 1 (27) (15) Other (1) — (1) (1) Balance at end of period $ 534 $ 580 $ 534 $ 580 1. The six months ended June 30, 2022 includes the portion of asset related charges attributable to noncontrolling interests related to a joint venture in Russia. See Note 4 for additional information. 2. Distributions to noncontrolling interests are net of $7 million for the three and six months ended June 30, 2022 ($8 million for the three and six months ended June 30, 2021) in dividends paid to a joint venture, which were reclassified to "Equity in earnings of nonconsolidated affiliates" in the consolidated statements of income.

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS A summary of the Company's pension and other postretirement benefit plans can be found in Note 20 to the Consolidated Financial Statements included in the 2021 10-K. The Company's funding policy is to contribute to defined benefit pension plans in the United States and a number of other countries when pension laws and/or economics either require or encourage funding. The Company expects to contribute approximately $250 million to its pension plans in 2022, of which $89 million has been contributed through June 30, 2022. The following table provides the components of the Company's net periodic benefit cost for all significant plans: Net Periodic Benefit Cost for All Significant Plans Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Defined Benefit Pension Plans Service cost $ 99 $ 96 $ 198 $ 198 Interest cost 171 150 342 293 Expected return on plan assets (423) (435) (847) (857) Amortization of prior service credit (5) (5) (11) (10) Amortization of net loss 165 200 332 424 Curtailment gain — — — (19) Net periodic benefit cost $ 7 $ 6 $ 14 $ 29 Other Postretirement Benefit Plans Service cost $ 2 $ 2 $ 3 $ 4 Interest cost 7 5 14 11 Amortization of net gain (4) (1) (8) (3) Net periodic benefit cost $ 5 $ 6 $ 9 $ 12 Net periodic benefit cost, other than the service cost component, is included in "Sundry income (expense) - net" in the consolidated statements of income.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement [Text Block]	STOCK-BASED COMPENSATION A summary of the Company's stock-based compensation plans can be found in Note 21 to the Consolidated Financial Statements included in the 2021 10-K. Stock Incentive Plan The Company grants stock-based compensation to employees and non-employee directors under the 2019 Stock Incentive Plan, as amended. Most of the Company's stock-based compensation awards are granted in the first quarter of each year. In the first quarter of 2022, Dow Inc. granted the following stock-based compensation awards to employees: • 1.2 million stock options with a weighted-average exercise price of $60.95 per share and a weighted-average fair value of $11.08 per share; • 1.7 million restricted stock units with a weighted-average fair value of $60.96 per share; and • 1.2 million performance stock units with a weighted-average fair value of $65.83 per share. There was minimal grant activity in the second quarter of 2022. Employee Stock Purchase Plan The Dow Inc. 2021 Employee Stock Purchase Plan (the "2021 ESPP") was adopted by the Board on February 11, 2021, and approved by stockholders at the Company's annual meeting on April 15, 2021. Under the 2022 annual offering of the 2021 ESPP, most employees were eligible to purchase shares of common stock of Dow Inc. valued at up to 10 percent of their annual total base salary or wages. The number of shares purchased is determined using the amount contributed by the employee divided by the plan price. The plan price of the stock is equal to 85 percent of the fair market value (closing price) of the common stock at April 1, 2022 (beginning) or October 7, 2022 (ending) of the offering period, whichever is lower. In the first quarter of 2022, employees subscribed to the right to purchase approximately 2 million shares under the 2021 ESPP. The plan price is fixed upon the close of the offering period and will be determined in the fourth quarter of 2022. The shares will be delivered to employees in the fourth quarter of 2022.

Financial Instruments (Notes)

Financial Instruments (Notes)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Financial Instruments	FINANCIAL INSTRUMENTS A summary of the Company's financial instruments, risk management policies, derivative instruments and hedging activities can be found in Note 22 to the Consolidated Financial Statements included in the 2021 10-K. The following table summarizes the fair value of financial instruments at June 30, 2022 and December 31, 2021: Fair Value of Financial Instruments Jun 30, 2022 Dec 31, 2021 In millions Cost Gain Loss Fair Value Cost Gain Loss Fair Value Cash equivalents: Held-to-maturity securities 1 $ 277 $ — $ — $ 277 $ 317 $ — $ — $ 317 Money market funds 702 — — 702 489 — — 489 Total cash equivalents $ 979 $ — $ — $ 979 $ 806 $ — $ — $ 806 Marketable securities 2 $ 164 $ 5 $ — $ 169 $ 237 $ 8 $ — $ 245 Other investments: Debt securities: Government debt 3 $ 735 $ 1 $ (121) $ 615 $ 746 $ 17 $ (28) $ 735 Corporate bonds 1,267 18 (159) 1,126 1,251 93 (20) 1,324 Total debt securities $ 2,002 $ 19 $ (280) $ 1,741 $ 1,997 $ 110 $ (48) $ 2,059 Equity securities 4 4 8 — 12 7 13 — 20 Total other investments $ 2,006 $ 27 $ (280) $ 1,753 $ 2,004 $ 123 $ (48) $ 2,079 Total cash equivalents, marketable securities and other investments $ 3,149 $ 32 $ (280) $ 2,901 $ 3,047 $ 131 $ (48) $ 3,130 Long-term debt including debt due within one year 5 $ (13,426) $ 1,267 $ (567) $ (12,726) $ (14,511) $ 27 $ (2,641) $ (17,125) Derivatives relating to: Interest rates 6 $ — $ 167 $ — $ 167 $ — $ 1 $ (140) $ (139) Foreign currency — 88 (113) (25) — 46 (18) 28 Commodities 6 — 366 (234) 132 — 142 (92) 50 Total derivatives $ — $ 621 $ (347) $ 274 $ — $ 189 $ (250) $ (61) 1. The Company's held-to-maturity securities primarily included treasury bills and time deposits. 2. The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets. 3. U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations. 4. Equity securities with a readily determinable fair value. 5. Cost includes fair value hedge adjustment gains of $47 million at June 30, 2022 and December 31, 2021 on $2,279 million of debt at June 30, 2022 and December 31, 2021. 6. Presented net of cash collateral where master netting arrangements allow. Cost approximates fair value for all other financial instruments. Debt Securities The Company's investments in debt securities are primarily classified as available-for-sale. The following table provides investing results from available-for-sale securities for the six months ended June 30, 2022 and 2021: Investing Results Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Proceeds from sales of available-for-sale securities $ 295 $ 260 Gross realized gains $ 20 $ 31 Gross realized losses $ (30) $ (6) The following table summarizes contractual maturities of the Company's investments in debt securities: Contractual Maturities of Debt Securities at Jun 30, 2022 1 Cost Fair Value In millions Within one year $ 31 $ 28 One to five years 449 419 Six to ten years 1,014 870 After ten years 508 424 Total $ 2,002 $ 1,741 1. Includes marketable securities with maturities of less than one year. Equity Securities There were no material adjustments to the carrying value of the not readily determinable investments for impairment or observable price changes for the three months ended June 30, 2022. There was $3 million of net unrealized losses recognized in earnings on equity securities for the three months ended June 30, 2022 ($1 million net unrealized loss for the three months ended June 30, 2021). There was $6 million of net unrealized losses recognized in earnings on equity securities for the six months ended June 30, 2022 ($1 million net unrealized loss for the six months ended June 30, 2021). Investments in Equity Securities Jun 30, 2022 Dec 31, 2021 In millions Readily determinable fair value $ 12 $ 20 Not readily determinable fair value $ 204 $ 209 Derivative Instruments The notional amounts of the Company's derivative instruments presented on a net basis at June 30, 2022 and December 31, 2021 were as follows: Notional Amounts - Net Jun 30, 2022 Dec 31, 2021 In millions Derivatives designated as hedging instruments: Interest rate contracts $ 3,000 $ 3,000 Foreign currency contracts $ 5,173 $ 5,300 Derivatives not designated as hedging instruments: Interest rate contracts $ 3 $ 36 Foreign currency contracts $ 14,393 $ 8,234 The notional amounts of the Company's commodity derivatives presented on a net basis at June 30, 2022 and December 31, 2021 were as follows: Commodity Notionals - Net Jun 30, 2022 Dec 31, 2021 Notional Volume Unit Derivatives designated as hedging instruments: Hydrocarbon derivatives 17.3 9.7 million barrels of oil equivalent Derivatives not designated as hedging instruments: Hydrocarbon derivatives — 0.1 million barrels of oil equivalent Power derivatives 10.3 3.3 thousands of megawatt hours Maturity Dates of Derivatives Designated as Hedging Instruments Year Interest rate contracts 2023 Foreign currency contracts 2023 Commodity contracts 2026 The following tables provide the fair value and balance sheet classification of derivative instruments at June 30, 2022 and December 31, 2021: Fair Value of Derivative Instruments Jun 30, 2022 In millions Balance Sheet Classification Gross Counterparty and Cash Collateral Netting 1 Net Amounts Included in the Consolidated Balance Sheets Asset derivatives Derivatives designated as hedging instruments: Interest rate contracts Other current assets $ 501 $ (334) $ 167 Foreign currency contracts Other current assets 309 (228) 81 Commodity contracts Other current assets 670 (348) 322 Commodity contracts Deferred charges and other assets 14 — 14 Total $ 1,494 $ (910) $ 584 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets $ 66 $ (59) $ 7 Commodity contracts Other current assets 34 (4) 30 Total $ 100 $ (63) $ 37 Total asset derivatives $ 1,594 $ (973) $ 621 Liability derivatives Derivatives designated as hedging instruments: Interest rate contracts Accrued and other current liabilities $ 334 $ (334) $ — Foreign currency contracts Accrued and other current liabilities 247 (228) 19 Commodity contracts Accrued and other current liabilities 564 (366) 198 Commodity contracts Other noncurrent obligations 1 (1) — Total $ 1,146 $ (929) $ 217 Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 153 $ (59) $ 94 Commodity contracts Accrued and other current liabilities 52 (16) 36 Total $ 205 $ (75) $ 130 Total liability derivatives $ 1,351 $ (1,004) $ 347 1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the Company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. Fair Value of Derivative Instruments Dec 31, 2021 In millions Balance Sheet Classification Gross Counterparty and Cash Collateral Netting 1 Net Amounts Included in the Consolidated Balance Sheets Asset derivatives Derivatives designated as hedging instruments: Interest rate contracts Other current assets $ 14 $ (14) $ — Interest rate contracts Deferred charges and other assets 130 (130) — Foreign currency contracts Other current assets 24 (13) 11 Foreign currency contracts Deferred charges and other assets 117 (89) 28 Commodity contracts Other current assets 305 (173) 132 Commodity contracts Deferred charges and other assets 9 (2) 7 Total $ 599 $ (421) $ 178 Derivatives not designated as hedging instruments: Interest rate contracts Other current assets $ 1 $ — $ 1 Foreign currency contracts Other current assets 23 (16) 7 Foreign currency contracts Deferred charges and other assets 1 (1) — Commodity contracts Other current assets 8 (5) 3 Total $ 33 $ (22) $ 11 Total asset derivatives $ 632 $ (443) $ 189 Liability derivatives Derivatives designated as hedging instruments: Interest rate contracts Accrued and other current liabilities $ 33 $ (14) $ 19 Interest rate contracts Other noncurrent obligations 192 (130) 62 Foreign currency contracts Accrued and other current liabilities 15 (13) 2 Foreign currency contracts Other noncurrent obligations 90 (89) 1 Commodity contracts Accrued and other current liabilities 267 (192) 75 Commodity contracts Other noncurrent obligations 2 (2) — Total $ 599 $ (440) $ 159 Derivatives not designated as hedging instruments: Interest rate contracts Accrued and other current liabilities $ 59 $ — $ 59 Foreign currency contracts Accrued and other current liabilities 31 (16) 15 Foreign currency contracts Other noncurrent obligations 1 (1) — Commodity contracts Accrued and other current liabilities 25 (8) 17 Total $ 116 $ (25) $ 91 Total liability derivatives $ 715 $ (465) $ 250 1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the Company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. Assets and liabilities related to forward contracts, interest rate swaps, currency swaps, options and other conditional or exchange contracts executed with the same counterparty under a master netting arrangement are netted. Collateral accounts are netted with corresponding assets or liabilities, when applicable. The Company posted cash collateral of $53 million at June 30, 2022 ($71 million at December 31, 2021). No cash collateral was posted by counterparties with the Company at June 30, 2022 and December 31, 2021. The following tables summarize the gain (loss) of derivative instruments in the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2022 and 2021: Effect of Derivative Instruments Amount of gain (loss) recognized in OCI 1 Amount of gain (loss) recognized in income 2 Income Statement Classification Three Months Ended Three Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Derivatives designated as hedging instruments: Cash flow hedges: Interest rate contracts $ 108 $ (44) $ (2) $ (2) Interest expense and amortization of debt discount Foreign currency contracts 4 1 3 (4) Cost of sales Commodity contracts 80 41 107 (2) Cost of sales Net foreign investment hedges: Foreign currency contracts 49 3 — — Excluded components 3 5 3 11 3 Sundry income (expense) - net Total derivatives designated as hedging instruments $ 246 $ 4 $ 119 $ (5) Derivatives not designated as hedging instruments: Interest rate contracts $ — $ — $ — $ (1) Interest expense and amortization of debt discount Foreign currency contracts — — (191) (5) Sundry income (expense) - net Commodity contracts — — 7 (5) Cost of sales Total derivatives not designated as hedging instruments $ — $ — $ (184) $ (11) Total derivatives $ 246 $ 4 $ (65) $ (16) 1. OCI is defined as other comprehensive income (loss). 2. Pretax amounts. 3. The excluded components are related to the time value of the derivatives designated as hedges. Effect of Derivative Instruments Amount of gain (loss) recognized in OCI 1 Amount of gain (loss) recognized in income 2 Income Statement Classification Six Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Derivatives designated as hedging instruments: Fair value hedges: Interest rate contracts $ — $ — $ — $ (25) Interest expense and amortization of debt discount 3 Excluded components 4 — 2 — — Interest expense and amortization of debt discount Cash flow hedges: Interest rate contracts 207 (44) (5) (5) Interest expense and amortization of debt discount Foreign currency contracts 6 6 6 (12) Cost of sales Commodity contracts 287 106 141 11 Cost of sales Net foreign investment hedges: Foreign currency contracts 47 13 — — Excluded components 4 34 8 23 4 Sundry income (expense) - net Total derivatives designated as hedging instruments $ 581 $ 91 $ 165 $ (27) Derivatives not designated as hedging instruments: Interest rate contracts $ — $ — $ (1) $ (3) Interest expense and amortization of debt discount Foreign currency contracts — — (276) (118) Sundry income (expense) - net Commodity contracts — — 29 (35) Cost of sales Total derivatives not designated as hedging instruments $ — $ — $ (248) $ (156) Total derivatives $ 581 $ 91 $ (83) $ (183) 1. OCI is defined as other comprehensive income (loss). 2. Pretax amounts. 3. Gain (loss) recognized in income of derivatives is offset by gain (loss) recognized in income of the hedged item. 4. The excluded components are related to the time value of the derivatives designated as hedges. The following table provides the net after-tax gain (loss) expected to be reclassified from AOCL to income within the next 12 months: Expected Reclassifications from AOCL within the next 12 months Jun 30, 2022 In millions Cash flow hedges: Interest rate contracts $ (8) Commodity contracts $ 208 Foreign currency contracts $ 10 Net foreign investment hedges: Excluded components $ 18

FAIR VALUE MEASUREMENTS (Notes)

FAIR VALUE MEASUREMENTS (Notes)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE MEASUREMENTS A summary of the Company's recurring and nonrecurring fair value measurements can be found in Note 23 to the Consolidated Financial Statements included in the 2021 10-K. Fair Value Measurements on a Recurring Basis The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis: Basis of Fair Value Measurements on a Recurring Basis Jun 30, 2022 Dec 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total In millions Assets at fair value: Cash equivalents: Held-to-maturity securities 1 $ — $ 277 $ — $ 277 $ — $ 317 $ — $ 317 Money market funds — 702 — 702 — 489 — 489 Marketable securities 2 — 169 — 169 — 245 — 245 Equity securities 3 12 — — 12 20 — — 20 Nonconsolidated affiliates 4 — — 18 18 — — — — Debt securities: 3 Government debt 5 — 615 — 615 — 735 — 735 Corporate bonds 32 1,094 — 1,126 44 1,280 — 1,324 Derivatives relating to: 6 Interest rates — 501 — 501 — 145 — 145 Foreign currency — 375 — 375 — 165 — 165 Commodities 19 699 — 718 15 307 — 322 Total assets at fair value $ 63 $ 4,432 $ 18 $ 4,513 $ 79 $ 3,683 $ — $ 3,762 Liabilities at fair value: Long-term debt including debt due within one year 7 $ — $ 12,726 $ — $ 12,726 $ — $ 17,125 $ — $ 17,125 Guarantee liability 8 — — 210 210 — — 220 220 Derivatives relating to: 6 Interest rates — 334 — 334 — 284 — 284 Foreign currency — 400 — 400 — 137 — 137 Commodities 46 571 — 617 37 257 — 294 Total liabilities at fair value $ 46 $ 14,031 $ 210 $ 14,287 $ 37 $ 17,803 $ 220 $ 18,060 1. The Company's held-to-maturity securities primarily included treasury bills and time deposits. 2. The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets. 3. The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities are included in “Other investments” in the consolidated balance sheets. 4. Estimated asset for the Company's investment in a limited liability company included in "Investment in nonconsolidated affiliates" in the consolidated balance sheets. 5. U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations. 6. See Note 18 for the classification of derivatives in the consolidated balance sheets. 7. See Note 18 for information on fair value measurements of long-term debt. 8. Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets. See Note 12 for additional information. For equity securities calculated at net asset value per share (or its equivalent), the Company had $98 million in private market securities and $22 million in real estate at June 30, 2022 ( $106 million in private market securities and $22 million in real estate at December 31, 2021). There are no redemption restrictions and the unfunded commitments on these investments were $77 million at June 30, 2022 ($59 million at December 31, 2021). For assets classified as Level 3 measurements, fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The level 3 asset value represents the fair value of the Company's investment in a nonconsolidated affiliate. The unfunded commitment on the investment was $72 million at June 30, 2022.

VARIABLE INTEREST ENTITIES (Not

VARIABLE INTEREST ENTITIES (Notes)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES A summary of the Company's variable interest entities ("VIEs") can be found in Note 24 to the Consolidated Financial Statements included in the 2021 10-K. Assets and Liabilities of Consolidated VIEs The Company's consolidated financial statements include the assets, liabilities and results of operations of VIEs for which the Company is the primary beneficiary. The other equity holders’ interests are included in “Net income attributable to noncontrolling interests” in the consolidated statements of income and "Noncontrolling interests" in the consolidated balance sheets. The following table summarizes the carrying amounts of these entities' assets and liabilities included in the Company’s consolidated balance sheets at June 30, 2022 and December 31, 2021: Assets and Liabilities of Consolidated VIEs Jun 30, 2022 Dec 31, 2021 In millions Cash and cash equivalents $ 44 $ 40 Other current assets 35 40 Net property 167 184 Other noncurrent assets 14 15 Total assets 1 $ 260 $ 279 Current liabilities $ 40 $ 37 Long-term debt 1 3 Other noncurrent obligations 11 13 Total liabilities 2 $ 52 $ 53 1. All assets were restricted at June 30, 2022 and December 31, 2021. 2. All liabilities were nonrecourse at June 30, 2022 and December 31, 2021. Amounts presented in the consolidated balance sheets and the table above as restricted assets or nonrecourse obligations relating to consolidated VIEs at June 30, 2022 and December 31, 2021 are adjusted for intercompany eliminations. Nonconsolidated VIEs The following table summarizes the carrying amounts of assets included in the consolidated balance sheets at June 30, 2022 and December 31, 2021, related to variable interests in joint ventures or entities for which the Company is not the primary beneficiary. The Company's maximum exposure to loss is the same as the carrying amounts. Carrying Amounts of Assets Related to Nonconsolidated VIEs Jun 30, 2022 Dec 31, 2021 In millions Description of asset Silicon joint ventures Equity method investments 1 $ 116 $ 110 1. Included in "Investment in nonconsolidated affiliates" in the consolidated balance sheets.

RELATD PARTY TRANSACTIONS (Note

RELATD PARTY TRANSACTIONS (Notes)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	RELATED PARTY TRANSACTIONS TDCC has committed to fund Dow Inc.'s dividends paid to common stockholders and share repurchases, as approved by Dow Inc.'s Board from time to time, as well as certain governance expenses. Funding is accomplished through intercompany loans. TDCC's Board reviews and determines a dividend distribution to Dow Inc. to settle the intercompany loans. The following table summarizes cash dividends TDCC declared and paid to Dow Inc. for the three and six months ended June 30, 2022 and 2021: TDCC Cash Dividends Declared and Paid Three Months Ended Six Months Ended Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 In millions Cash dividends declared and paid $ 1,333 $ 739 $ 2,454 $ 1,442 At June 30, 2022 and December 31, 2021, TDCC's outstanding intercompany loan balance with Dow Inc. was insignificant.

SEGMENTS AND GEOGRAPHIC REGIONS

SEGMENTS AND GEOGRAPHIC REGIONS (Notes)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segments and Geographic Regions [Text Block]	SEGMENTS AND GEOGRAPHIC REGIONS Dow’s measure of profit/loss for segment reporting purposes is Operating EBIT as this is the manner in which the Company's chief operating decision maker assesses performance and allocates resources. The Company defines Operating EBIT as earnings (i.e., "Income before income taxes") before interest, excluding the impact of significant items. Operating EBIT by segment includes all operating items relating to the businesses; items that principally apply to Dow as a whole are assigned to Corporate. Segment Information Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Materials & Coatings Corp. Total In millions Three months ended Jun 30, 2022 Net sales $ 8,233 $ 4,370 $ 3,003 $ 58 $ 15,664 Equity in earnings (losses) of nonconsolidated affiliates $ 138 $ 57 $ 2 $ (2) $ 195 Dow Inc. Operating EBIT 1 $ 1,436 $ 426 $ 561 $ (48) $ 2,375 Three months ended Jun 30, 2021 Net sales $ 7,121 $ 4,215 $ 2,465 $ 84 $ 13,885 Equity in earnings of nonconsolidated affiliates $ 130 $ 144 $ — $ 4 $ 278 Dow Inc. Operating EBIT 1 $ 2,014 $ 648 $ 225 $ (59) $ 2,828 Six months ended Jun 30, 2022 Net sales $ 15,860 $ 8,894 $ 6,052 $ 122 $ 30,928 Equity in earnings (losses) of nonconsolidated affiliates $ 248 $ 119 $ 5 $ (3) $ 369 Dow Inc. Operating EBIT 1 $ 2,670 $ 1,087 $ 1,156 $ (119) $ 4,794 Six months ended Jun 30, 2021 Net sales $ 13,203 $ 7,822 $ 4,588 $ 154 $ 25,767 Equity in earnings of nonconsolidated affiliates $ 236 $ 259 $ 2 $ 5 $ 502 Dow Inc. Operating EBIT 1 $ 3,242 $ 974 $ 287 $ (121) $ 4,382 1. Operating EBIT for TDCC for the three and six months ended June 30, 2022 and 2021 is substantially the same as that of Dow Inc. and therefore has not been disclosed separately in the table above. A reconciliation of "Net income" to Operating EBIT is provided in the following table. Reconciliation of "Net income" to Operating EBIT Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Net income $ 1,681 $ 1,932 $ 3,233 $ 2,938 + Provision for income taxes 488 524 991 841 Income before income taxes $ 2,169 $ 2,456 $ 4,224 $ 3,779 - Interest income 36 13 64 21 + Interest expense and amortization of debt discount 165 187 332 383 - Significant items (77) (198) (302) (241) Operating EBIT $ 2,375 $ 2,828 $ 4,794 $ 4,382 The following tables summarize the pretax impact of significant items by segment excluded from Operating EBIT: Significant Items by Segment Three Months Ended Jun 30, 2022 Six Months Ended Jun 30, 2022 Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total In millions Digitalization program costs 1 $ — $ — $ — $ (51) $ (51) $ — $ — $ — $ (92) $ (92) Restructuring, implementation costs and asset related charges - net 2 — — — (10) (10) — — — (20) (20) Russia / Ukraine conflict charges 3 — — — — — (31) (109) (16) (30) (186) Loss on early extinguishment of debt 4 — — — (8) (8) — — — (8) (8) Indemnification and other transaction related costs 5 — — — (8) (8) — — — 4 4 Total $ — $ — $ — $ (77) $ (77) $ (31) $ (109) $ (16) $ (146) $ (302) 1. Includes costs associated with implementing the Company's Digital Acceleration program. 2. Includes costs associated with implementing the Company's 2020 Restructuring Program. 3. Asset related charges due to the Russia and Ukraine conflict. See Note 4 for additional information. 4. The Company redeemed outstanding long-term debt resulting in a loss on early extinguishment. See Note 11 for additional information. 5. Primarily related to charges associated with agreements entered into with DuPont de Nemours, Inc. and Corteva, Inc. as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. See Note 2 for additional information. Significant Items by Segment Three Months Ended Jun 30, 2021 Six Months Ended Jun 30, 2021 Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total In millions Digitalization program costs 1 $ — $ — $ — $ (48) $ (48) $ — $ — $ — $ (81) $ (81) Restructuring, implementation costs and asset related charges - net 2 (8) (1) (10) (24) (43) (8) (1) (10) (34) (53) Loss on early extinguishment of debt 3 — — — (102) (102) — — — (102) (102) Indemnification and other transactions related costs 4 — — — (5) (5) — — — (5) (5) Total $ (8) $ (1) $ (10) $ (179) $ (198) $ (8) $ (1) $ (10) $ (222) $ (241) 1. Includes costs associated with implementing the Company's Digital Acceleration program. 2. Includes costs associated with implementing the Company's 2020 Restructuring Program. 3. The Company redeemed outstanding long-term debt resulting in a loss on early extinguishment. See Note 11 for additional information. 4. Primarily related to charges associated with agreements entered into with DuPont de Nemours, Inc. and Corteva, Inc. as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. See Note 2 for additional information.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenue The Company disaggregates its revenue from contracts with customers by operating segment and business, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows. See details in the tables below: Net Trade Sales by Segment and Business Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Hydrocarbons & Energy $ 2,779 $ 2,008 $ 5,195 $ 3,759 Packaging and Specialty Plastics 5,454 5,113 10,665 9,444 Packaging & Specialty Plastics $ 8,233 $ 7,121 $ 15,860 $ 13,203 Industrial Solutions $ 1,446 $ 1,201 $ 2,961 $ 2,250 Polyurethanes & Construction Chemicals 2,919 3,012 5,924 5,568 Other 5 2 9 4 Industrial Intermediates & Infrastructure $ 4,370 $ 4,215 $ 8,894 $ 7,822 Coatings & Performance Monomers $ 1,129 $ 1,010 $ 2,204 $ 1,865 Consumer Solutions 1,874 1,455 3,848 2,723 Performance Materials & Coatings $ 3,003 $ 2,465 $ 6,052 $ 4,588 Corporate $ 58 $ 84 $ 122 $ 154 Total $ 15,664 $ 13,885 $ 30,928 $ 25,767 Net Trade Sales by Geographic Region Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 U.S. & Canada $ 5,707 $ 4,927 $ 11,244 $ 8,955 EMEAI 1 5,677 5,102 11,189 9,431 Asia Pacific 2,673 2,479 5,426 4,844 Latin America 1,607 1,377 3,069 2,537 Total $ 15,664 $ 13,885 $ 30,928 $ 25,767 1. Europe, Middle East, Africa and India.
Contract with Customer, Asset and Liability [Table Text Block]	The following table summarizes contract assets and liabilities at June 30, 2022 and December 31, 2021: Contract Assets and Liabilities Balance Sheet Classification Jun 30, 2022 Dec 31, 2021 In millions Accounts and notes receivable - trade Accounts and notes receivable - trade $ 7,474 $ 6,841 Contract assets - current Other current assets $ 36 $ 34 Contract assets - noncurrent Deferred charges and other assets $ 25 $ 26 Contract liabilities - current Accrued and other current liabilities $ 259 $ 209 Contract liabilities - noncurrent 1 Other noncurrent obligations $ 1,818 $ 1,925 1. The decrease from December 31, 2021 to June 30, 2022 was due to the recognition of revenue on long-term product supply agreements and reclassification of deferred royalty payments from noncurrent to current.

Restructuring and Related Activ

Restructuring and Related Activities (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table summarizes the activities related to the 2020 Restructuring Program since January 1, 2021: 2020 Restructuring Program Severance and Related Benefit Costs Asset Write-downs and Write-offs Costs Associated with Exit and Disposal Activities Total In millions Reserve balance at Jan 1, 2021 $ 289 $ — $ 75 $ 364 Cash payments (37) — (12) (49) Reserve balance at Mar 31, 2021 $ 252 $ — $ 63 $ 315 Packaging & Specialty Plastics $ — $ — $ 8 $ 8 Industrial Intermediates & Infrastructure — 1 — 1 Performance Materials & Coatings — 8 2 10 Corporate — 3 — 3 Total restructuring charges $ — $ 12 $ 10 $ 22 Charges against the reserve — (12) — (12) Cash payments (53) — (3) (56) Reserve balance at Jun 30, 2021 $ 199 $ — $ 70 $ 269 Cash payments (55) — (2) (57) Reserve balance at Sep 30, 2021 $ 144 $ — $ 68 $ 212 Restructuring charges - Corporate $ (10) $ — $ — $ (10) Cash payments (30) — (4) (34) Reserve balance at Dec 31, 2021 $ 104 $ — $ 64 $ 168 Cash payments (59) — (1) (60) Reserve balance at Mar 31, 2022 $ 45 $ — $ 63 $ 108 Cash payments (8) — (2) (10) Reserve balance at Jun 30, 2022 $ 37 $ — $ 61 $ 98

SUPPLEMENTARY INFORMATION (Tabl

SUPPLEMENTARY INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Sundry Income, Net	Dow Inc. Sundry Income (Expense) – Net Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Non-operating pension and other postretirement benefit plan net credits 1 $ 89 $ 86 $ 178 $ 161 Foreign exchange losses (17) (8) (15) (16) Loss on early extinguishment of debt 2 (8) (102) (8) (102) Gains on sales of other assets and investments 12 14 43 62 Indemnification and other transaction related costs 3 (8) (5) 4 (5) Other - net 7 12 21 25 Total sundry income (expense) – net $ 75 $ (3) $ 223 $ 125 1. See Note 16 for additional information. 2. See Note 11 for additional information. 3. See Note 2 for additional information. TDCC Sundry Income (Expense) – Net Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Non-operating pension and other postretirement benefit plan net credits 1 $ 89 $ 86 $ 178 $ 161 Foreign exchange losses (22) (4) (20) (16) Loss on early extinguishment of debt 2 (8) (102) (8) (102) Gains on sales of other assets and investments 12 14 43 62 Other - net 7 12 21 20 Total sundry income (expense) – net $ 78 $ 6 $ 214 $ 125 1. See Note 16 for additional information. 2. See Note 11 for additional information.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following tables provide earnings per share calculations for Dow Inc. for the three and six months ended June 30, 2022 and 2021. Earnings per share of TDCC is not presented as this information is not required in financial statements of wholly owned subsidiaries. Net Income for Earnings Per Share Calculations Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Net income $ 1,681 $ 1,932 $ 3,233 $ 2,938 Net income attributable to noncontrolling interests 20 31 3 46 Net income attributable to participating securities 1 9 10 17 15 Net income attributable to common stockholders $ 1,652 $ 1,891 $ 3,213 $ 2,877 Earnings Per Share - Basic and Diluted Three Months Ended Six Months Ended Dollars per share Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Earnings per common share - basic $ 2.28 $ 2.53 $ 4.40 $ 3.86 Earnings per common share - diluted $ 2.26 $ 2.51 $ 4.37 $ 3.83 Share Count Information Three Months Ended Six Months Ended Shares in millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Weighted-average common shares outstanding - basic 725.7 747.0 730.2 745.9 Plus dilutive effect of equity compensation plans 5.8 5.9 5.4 5.5 Weighted-average common shares outstanding - diluted 731.5 752.9 735.6 751.4 Stock options and restricted stock units excluded from EPS calculations 2 4.0 3.8 5.4 4.8 1. Restricted stock units are considered participating securities due to the Company's practice of paying dividend equivalents on unvested shares. 2. These outstanding options to purchase shares of common stock and restricted stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	The following table provides a breakdown of inventories: Inventories Jun 30, 2022 Dec 31, 2021 In millions Finished goods $ 5,174 $ 4,554 Work in process 1,994 1,615 Raw materials 1,024 822 Supplies 871 866 Total $ 9,063 $ 7,857 Adjustment of inventories to a LIFO basis (838) (485) Total inventories $ 8,225 $ 7,372

NONCONSOLIDATED AFFILIATES (Tab

NONCONSOLIDATED AFFILIATES (Tables)	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Nonconsolidated Affiliates - Investments and Dividends	The Company's investments in companies accounted for using the equity method ("nonconsolidated affiliates"), by classification in the consolidated balance sheets, and dividends received from nonconsolidated affiliates are shown in the following tables: Investments in Nonconsolidated Affiliates Jun 30, 2022 Dec 31, 2021 In millions Investment in nonconsolidated affiliates $ 1,862 $ 2,045 Other noncurrent obligations (103) — Net investment in nonconsolidated affiliates $ 1,759 $ 2,045 Dividends from Nonconsolidated Affiliates Six Months Ended In millions Jun 30, 2022 1 Jun 30, 2021 2 Dividends from nonconsolidated affiliates $ 736 $ 219 1. $658 million included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows and $78 million included in "Accounts and notes receivable - Other" in the consolidated balance sheets. 2. Included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The following table shows changes in the carrying amount of goodwill by reportable segment: Goodwill Packaging & Specialty Plastics Industrial Intermediates & Infrastructure Performance Materials & Coatings Total In millions Net goodwill at Dec 31, 2021 $ 5,105 $ 1,096 $ 2,563 $ 8,764 Foreign currency impact (8) (4) (147) (159) Net goodwill at Jun 30, 2022 $ 5,097 $ 1,092 $ 2,416 $ 8,605
Schedule of Intangible Assets and Goodwill	The following table provides information regarding the Company’s other intangible assets: Other Intangible Assets Jun 30, 2022 Dec 31, 2021 In millions Gross Carrying Amount Accum Amort Net Gross Carrying Amount Accum Amort Net Intangible assets with finite lives: Developed technology $ 2,633 $ (1,947) $ 686 $ 2,637 $ (1,871) $ 766 Software 1,368 (950) 418 1,396 (945) 451 Trademarks/tradenames 352 (345) 7 352 (344) 8 Customer-related 3,079 (1,591) 1,488 3,204 (1,565) 1,639 Total other intangible assets, finite lives $ 7,432 $ (4,833) $ 2,599 $ 7,589 $ (4,725) $ 2,864 In-process research and development 17 — 17 17 — 17 Total other intangible assets $ 7,449 $ (4,833) $ 2,616 $ 7,606 $ (4,725) $ 2,881
Schedule of amortization expense	The following table provides information regarding amortization expense related to intangible assets: Amortization Expense Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Other intangible assets, excluding software $ 85 $ 100 $ 173 $ 201 Software, included in “Cost of sales” $ 20 $ 23 $ 40 $ 45
Schedule of estimated future amortization expense	Total estimated amortization expense for 2022 and the five succeeding fiscal years, including amounts expected to be capitalized, is as follows: Estimated Amortization Expense In millions 2022 $ 415 2023 $ 381 2024 $ 362 2025 $ 271 2026 $ 196 2027 $ 164

NOTES PAYABLE, LONG-TERM DEBT_2

NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Notes Payable Jun 30, 2022 Dec 31, 2021 In millions Commercial paper $ 200 $ — Notes payable to banks and other lenders 95 161 Total notes payable $ 295 $ 161 Period-end average interest rates 4.59 % 5.78 %
Schedule of Long-term Debt Instruments	Long-Term Debt 2022 Average Rate Jun 30, 2022 2021 Average Rate Dec 31, 2021 In millions Promissory notes and debentures: Final maturity 2022 — % $ — 8.64 % $ 121 Final maturity 2023 7.63 % 250 7.63 % 250 Final maturity 2025 5.63 % 333 5.63 % 333 Final maturity 2026 — % — 3.63 % 750 Final maturity 2028 and thereafter 1 5.15 % 9,364 5.15 % 9,363 Other facilities: Foreign currency notes and loans, various rates and maturities 1.16 % 2,492 1.17 % 2,730 InterNotes®, varying maturities through 2052 3.44 % 436 3.37 % 392 Finance lease obligations 2 826 869 Unamortized debt discount and issuance costs (275) (297) Long-term debt due within one year 3 (361) (231) Long-term debt $ 13,065 $ 14,280 1. Cost includes net fair value hedge adjustment gains of $47 million at June 30, 2022 and December 31, 2021. See Note 18 for additional information. 2. See Note 13 for additional information. 3. Presented net of current portion of unamortized debt issuance costs.
Schedule of Maturities of Long-term Debt	Maturities of Long-Term Debt for Next Five Years at Jun 30, 2022 In millions 2022 $ 58 2023 $ 388 2024 $ 81 2025 $ 386 2026 $ 78 2027 $ 1,113
Schedule of Line of Credit Facilities	The following table summarizes the Company's credit facilities: Committed and Available Credit Facilities at Jun 30, 2022 In millions Committed Credit Available Credit Maturity Date Interest Five Year Competitive Advance and Revolving Credit Facility $ 5,000 $ 5,000 November 2026 Floating rate Bilateral Revolving Credit Facility 200 200 September 2022 Floating rate Bilateral Revolving Credit Facility 200 200 November 2022 Floating rate Bilateral Revolving Credit Facility 200 200 September 2023 Floating rate Bilateral Revolving Credit Facility 250 250 September 2023 Floating rate Bilateral Revolving Credit Facility 300 300 September 2023 Floating rate Bilateral Revolving Credit Facility 300 300 December 2023 Floating rate Bilateral Revolving Credit Facility 300 300 December 2023 Floating rate Bilateral Revolving Credit Facility 100 100 October 2024 Floating rate Bilateral Revolving Credit Facility 200 200 November 2024 Floating rate Bilateral Revolving Credit Facility 100 100 March 2025 Floating rate Bilateral Revolving Credit Facility 250 250 March 2025 Floating rate Bilateral Revolving Credit Facility 100 100 March 2025 Floating rate Bilateral Revolving Credit Facility 100 100 March 2025 Floating rate Bilateral Revolving Credit Facility 100 100 March 2026 Floating rate Bilateral Revolving Credit Facility 100 100 October 2026 Floating rate Bilateral Revolving Credit Facility 150 150 November 2026 Floating rate Bilateral Revolving Credit Facility 100 100 May 2027 Floating rate Bilateral Revolving Credit Facility 350 350 June 2027 Floating rate Total committed and available credit facilities $ 8,400 $ 8,400

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Table of Guarantees by Type	The following table provides a summary of the final expiration, maximum future payments and recorded liability included in the consolidated balance sheets for guarantees: Guarantees Jun 30, 2022 Dec 31, 2021 In millions Final Maximum Future Payments 1 Recorded Liability Final Maximum Future Payments 1 Recorded Liability Guarantees 2038 $ 1,248 $ 210 2038 $ 1,273 $ 220 1. In addition, TDCC has provided guarantees, in proportion to the Company's 35 percent ownership interest, of all future interest payments that will become due on Sadara’s project financing debt during the grace period, which Dow's share is estimated to be $443 million at June 30, 2022 ($446 million at December 31, 2021). Based on Sadara's current forecasted cash flows, the Company does not expect to be required to perform under the guarantees.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2022
Guarantor Obligations [Line Items]
Lease, Cost	The components of lease cost for operating and finance leases for the three and six months ended June 30, 2022 and 2021 were as follows: Lease Cost Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Operating lease cost $ 99 $ 118 $ 196 $ 239 Finance lease cost Amortization of right-of-use assets - finance $ 26 $ 19 $ 52 $ 34 Interest on lease liabilities - finance 9 6 17 13 Total finance lease cost $ 35 $ 25 $ 69 $ 47 Short-term lease cost 66 71 125 120 Variable lease cost 133 79 248 150 Sublease income (3) (1) (6) (3) Total lease cost $ 330 $ 292 $ 632 $ 553
Schedule of Supplemental Cash Flow Information Related to Leases	The following table provides supplemental cash flow and other information related to leases: Other Lease Information Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 196 $ 245 Operating cash flows for finance leases $ 17 $ 13 Financing cash flows for finance leases $ 53 $ 29 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 37 $ 57 Finance leases $ 27 $ 72
Schedule of Lease Assets and Liabilities	The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheets at June 30, 2022 and December 31, 2021: Lease Position Balance Sheet Classification Jun 30, 2022 Dec 31, 2021 In millions Assets Operating lease assets Operating lease right-of-use assets $ 1,272 $ 1,412 Finance lease assets Property 1,145 1,158 Finance lease amortization Accumulated depreciation (395) (368) Total lease assets $ 2,022 $ 2,202 Liabilities Current Operating Operating lease liabilities - current $ 290 $ 314 Finance Long-term debt due within one year 107 106 Noncurrent Operating Operating lease liabilities - noncurrent 1,043 1,149 Finance Long-Term Debt 719 763 Total lease liabilities $ 2,159 $ 2,332
Lease Terms and Discount Rates	The weighted-average remaining lease term and discount rate for leases recorded in the consolidated balance sheets at June 30, 2022 and December 31, 2021 are provided below: Lease Term and Discount Rate Jun 30, 2022 Dec 31, 2021 Weighted-average remaining lease term Operating leases 7.8 years 7.9 years Finance leases 11.4 years 11.8 years Weighted-average discount rate Operating leases 4.04 % 3.72 % Finance leases 4.19 % 4.17 %
Maturities of Lease Liabilities	The following table provides the maturities of lease liabilities at June 30, 2022: Maturities of Lease Liabilities Jun 30, 2022 In millions Operating Leases Finance Leases 2022 $ 179 $ 71 2023 289 164 2024 225 106 2025 183 76 2026 148 69 2027 and thereafter 567 551 Total future undiscounted lease payments $ 1,591 $ 1,037 Less: Imputed interest 258 211 Total present value of lease liabilities $ 1,333 $ 826
Schedule of Guarantor Obligations	The following table provides a summary of the final expiration, maximum future payments and recorded liability included in the consolidated balance sheets for guarantees: Guarantees Jun 30, 2022 Dec 31, 2021 In millions Final Maximum Future Payments 1 Recorded Liability Final Maximum Future Payments 1 Recorded Liability Guarantees 2038 $ 1,248 $ 210 2038 $ 1,273 $ 220 1. In addition, TDCC has provided guarantees, in proportion to the Company's 35 percent ownership interest, of all future interest payments that will become due on Sadara’s project financing debt during the grace period, which Dow's share is estimated to be $443 million at June 30, 2022 ($446 million at December 31, 2021). Based on Sadara's current forecasted cash flows, the Company does not expect to be required to perform under the guarantees.
Residual Value Guarantees [Member]
Guarantor Obligations [Line Items]
Schedule of Guarantor Obligations	Lease Guarantees Jun 30, 2022 Dec 31, 2021 In millions Final Expiration Maximum Future Payments Recorded Liability Final Expiration Maximum Future Payments Recorded Liability Residual value guarantees 2031 $ 259 $ — 2031 $ 280 $ —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and six months ended June 30, 2022 and 2021 were as follows: Accumulated Other Comprehensive Loss Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Unrealized Gains (Losses) on Investments Beginning balance $ (37) $ 55 $ 59 $ 104 Unrealized gains (losses) on investments (203) 39 (324) (15) Tax (expense) benefit 43 (9) 67 2 Net unrealized gains (losses) on investments (160) 30 (257) (13) (Gains) losses reclassified from AOCL to net income 1 9 (17) 10 (25) Tax expense (benefit) 2 (2) 4 (2) 6 Net (gains) losses reclassified from AOCL to net income 7 (13) 8 (19) Other comprehensive income (loss), net of tax (153) 17 (249) (32) Ending balance $ (190) $ 72 $ (190) $ 72 Cumulative Translation Adjustment Beginning balance $ (1,519) $ (1,183) $ (1,355) $ (930) Gains (losses) on foreign currency translation (500) 67 (665) (150) Tax (expense) benefit (3) 1 10 (35) Net gains (losses) on foreign currency translation (503) 68 (655) (185) (Gains) losses reclassified from AOCL to net income 3 (11) (3) (23) (3) Other comprehensive income (loss), net of tax (514) 65 (678) (188) Ending balance $ (2,033) $ (1,118) $ (2,033) $ (1,118) Pension and Other Postretirement Benefits Beginning balance $ (7,225) $ (8,425) $ (7,334) $ (9,559) Gains (losses) arising during the period 4 3 — 5 1,268 Tax (expense) benefit — — — (298) Net gains (losses) arising during the period 3 — 5 970 Amortization of net loss and prior service credits reclassified from AOCL to net income 5 156 194 313 392 Tax expense (benefit) 2 (37) (45) (87) (79) Net loss and prior service credits reclassified from AOCL to net income 119 149 226 313 Other comprehensive income (loss), net of tax 122 149 231 1,283 Ending balance $ (7,103) $ (8,276) $ (7,103) $ (8,276) Derivative Instruments Beginning balance $ (15) $ (360) $ (347) $ (470) Gains (losses) on derivative instruments 260 (10) 680 112 Tax (expense) benefit (27) 8 (83) (1) Net gains (losses) on derivative instruments 233 (2) 597 111 (Gains) losses reclassified from AOCL to net income 6 (108) 9 (142) 6 Tax expense (benefit) 2 12 (1) 14 (1) Net (gains) losses reclassified from AOCL to net income (96) 8 (128) 5 Other comprehensive income (loss), net of tax 137 6 469 116 Ending balance $ 122 $ (354) $ 122 $ (354) Total AOCL ending balance $ (9,204) $ (9,676) $ (9,204) $ (9,676) 1. Reclassified to "Net sales" and "Sundry income (expense) - net." 2. Reclassified to "Provision for income taxes." 3. Reclassified to "Sundry income (expense) - net." 4. The 2021 impact relates to an interim remeasurement of U.S. pension plans due to the announced freeze of plan benefits in the first quarter of 2021. 5. These AOCL components are included in the computation of net periodic benefit cost of the Company's defined benefit pension and other postretirement benefit plans. See Note 16 for additional information. 6. Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."

NONCONTROLLING INTERESTS Nonc_2

NONCONTROLLING INTERESTS Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interests [Table Text Block]	The following table summarizes the activity for equity attributable to noncontrolling interests for the three and six months ended June 30, 2022 and 2021: Noncontrolling Interests Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Balance at beginning of period $ 545 $ 560 $ 574 $ 570 Net income attributable to noncontrolling interests 1 20 31 3 46 Distributions to noncontrolling interests 2 (14) (12) (15) (20) Cumulative translation adjustments (16) 1 (27) (15) Other (1) — (1) (1) Balance at end of period $ 534 $ 580 $ 534 $ 580 1. The six months ended June 30, 2022 includes the portion of asset related charges attributable to noncontrolling interests related to a joint venture in Russia. See Note 4 for additional information. 2. Distributions to noncontrolling interests are net of $7 million for the three and six months ended June 30, 2022 ($8 million for the three and six months ended June 30, 2021) in dividends paid to a joint venture, which were reclassified to "Equity in earnings of nonconsolidated affiliates" in the consolidated statements of income.

PENSION PLANS AND OTHER POSTR_2

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The following table provides the components of the Company's net periodic benefit cost for all significant plans: Net Periodic Benefit Cost for All Significant Plans Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Defined Benefit Pension Plans Service cost $ 99 $ 96 $ 198 $ 198 Interest cost 171 150 342 293 Expected return on plan assets (423) (435) (847) (857) Amortization of prior service credit (5) (5) (11) (10) Amortization of net loss 165 200 332 424 Curtailment gain — — — (19) Net periodic benefit cost $ 7 $ 6 $ 14 $ 29 Other Postretirement Benefit Plans Service cost $ 2 $ 2 $ 3 $ 4 Interest cost 7 5 14 11 Amortization of net gain (4) (1) (8) (3) Net periodic benefit cost $ 5 $ 6 $ 9 $ 12

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Fair Value of Financial Instruments	The following table summarizes the fair value of financial instruments at June 30, 2022 and December 31, 2021: Fair Value of Financial Instruments Jun 30, 2022 Dec 31, 2021 In millions Cost Gain Loss Fair Value Cost Gain Loss Fair Value Cash equivalents: Held-to-maturity securities 1 $ 277 $ — $ — $ 277 $ 317 $ — $ — $ 317 Money market funds 702 — — 702 489 — — 489 Total cash equivalents $ 979 $ — $ — $ 979 $ 806 $ — $ — $ 806 Marketable securities 2 $ 164 $ 5 $ — $ 169 $ 237 $ 8 $ — $ 245 Other investments: Debt securities: Government debt 3 $ 735 $ 1 $ (121) $ 615 $ 746 $ 17 $ (28) $ 735 Corporate bonds 1,267 18 (159) 1,126 1,251 93 (20) 1,324 Total debt securities $ 2,002 $ 19 $ (280) $ 1,741 $ 1,997 $ 110 $ (48) $ 2,059 Equity securities 4 4 8 — 12 7 13 — 20 Total other investments $ 2,006 $ 27 $ (280) $ 1,753 $ 2,004 $ 123 $ (48) $ 2,079 Total cash equivalents, marketable securities and other investments $ 3,149 $ 32 $ (280) $ 2,901 $ 3,047 $ 131 $ (48) $ 3,130 Long-term debt including debt due within one year 5 $ (13,426) $ 1,267 $ (567) $ (12,726) $ (14,511) $ 27 $ (2,641) $ (17,125) Derivatives relating to: Interest rates 6 $ — $ 167 $ — $ 167 $ — $ 1 $ (140) $ (139) Foreign currency — 88 (113) (25) — 46 (18) 28 Commodities 6 — 366 (234) 132 — 142 (92) 50 Total derivatives $ — $ 621 $ (347) $ 274 $ — $ 189 $ (250) $ (61) 1. The Company's held-to-maturity securities primarily included treasury bills and time deposits. 2. The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets. 3. U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations. 4. Equity securities with a readily determinable fair value. 5. Cost includes fair value hedge adjustment gains of $47 million at June 30, 2022 and December 31, 2021 on $2,279 million of debt at June 30, 2022 and December 31, 2021. 6. Presented net of cash collateral where master netting arrangements allow.
Investing Results	The following table provides investing results from available-for-sale securities for the six months ended June 30, 2022 and 2021: Investing Results Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Proceeds from sales of available-for-sale securities $ 295 $ 260 Gross realized gains $ 20 $ 31 Gross realized losses $ (30) $ (6)
Contractual Maturities of Debt Securities	The following table summarizes contractual maturities of the Company's investments in debt securities: Contractual Maturities of Debt Securities at Jun 30, 2022 1 Cost Fair Value In millions Within one year $ 31 $ 28 One to five years 449 419 Six to ten years 1,014 870 After ten years 508 424 Total $ 2,002 $ 1,741 1. Includes marketable securities with maturities of less than one year.
Equity Securities with and without Readily Determinable Fair Value	Investments in Equity Securities Jun 30, 2022 Dec 31, 2021 In millions Readily determinable fair value $ 12 $ 20 Not readily determinable fair value $ 204 $ 209
Schedule of Notional Amounts of Outstanding Derivative Positions	The notional amounts of the Company's derivative instruments presented on a net basis at June 30, 2022 and December 31, 2021 were as follows: Notional Amounts - Net Jun 30, 2022 Dec 31, 2021 In millions Derivatives designated as hedging instruments: Interest rate contracts $ 3,000 $ 3,000 Foreign currency contracts $ 5,173 $ 5,300 Derivatives not designated as hedging instruments: Interest rate contracts $ 3 $ 36 Foreign currency contracts $ 14,393 $ 8,234 The notional amounts of the Company's commodity derivatives presented on a net basis at June 30, 2022 and December 31, 2021 were as follows: Commodity Notionals - Net Jun 30, 2022 Dec 31, 2021 Notional Volume Unit Derivatives designated as hedging instruments: Hydrocarbon derivatives 17.3 9.7 million barrels of oil equivalent Derivatives not designated as hedging instruments: Hydrocarbon derivatives — 0.1 million barrels of oil equivalent Power derivatives 10.3 3.3 thousands of megawatt hours
Schedule of Derivative Instruments	Maturity Dates of Derivatives Designated as Hedging Instruments Year Interest rate contracts 2023 Foreign currency contracts 2023 Commodity contracts 2026
Schedule of Fair Values of Derivative Instruments	The following tables provide the fair value and balance sheet classification of derivative instruments at June 30, 2022 and December 31, 2021: Fair Value of Derivative Instruments Jun 30, 2022 In millions Balance Sheet Classification Gross Counterparty and Cash Collateral Netting 1 Net Amounts Included in the Consolidated Balance Sheets Asset derivatives Derivatives designated as hedging instruments: Interest rate contracts Other current assets $ 501 $ (334) $ 167 Foreign currency contracts Other current assets 309 (228) 81 Commodity contracts Other current assets 670 (348) 322 Commodity contracts Deferred charges and other assets 14 — 14 Total $ 1,494 $ (910) $ 584 Derivatives not designated as hedging instruments: Foreign currency contracts Other current assets $ 66 $ (59) $ 7 Commodity contracts Other current assets 34 (4) 30 Total $ 100 $ (63) $ 37 Total asset derivatives $ 1,594 $ (973) $ 621 Liability derivatives Derivatives designated as hedging instruments: Interest rate contracts Accrued and other current liabilities $ 334 $ (334) $ — Foreign currency contracts Accrued and other current liabilities 247 (228) 19 Commodity contracts Accrued and other current liabilities 564 (366) 198 Commodity contracts Other noncurrent obligations 1 (1) — Total $ 1,146 $ (929) $ 217 Derivatives not designated as hedging instruments: Foreign currency contracts Accrued and other current liabilities $ 153 $ (59) $ 94 Commodity contracts Accrued and other current liabilities 52 (16) 36 Total $ 205 $ (75) $ 130 Total liability derivatives $ 1,351 $ (1,004) $ 347 1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the Company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty. Fair Value of Derivative Instruments Dec 31, 2021 In millions Balance Sheet Classification Gross Counterparty and Cash Collateral Netting 1 Net Amounts Included in the Consolidated Balance Sheets Asset derivatives Derivatives designated as hedging instruments: Interest rate contracts Other current assets $ 14 $ (14) $ — Interest rate contracts Deferred charges and other assets 130 (130) — Foreign currency contracts Other current assets 24 (13) 11 Foreign currency contracts Deferred charges and other assets 117 (89) 28 Commodity contracts Other current assets 305 (173) 132 Commodity contracts Deferred charges and other assets 9 (2) 7 Total $ 599 $ (421) $ 178 Derivatives not designated as hedging instruments: Interest rate contracts Other current assets $ 1 $ — $ 1 Foreign currency contracts Other current assets 23 (16) 7 Foreign currency contracts Deferred charges and other assets 1 (1) — Commodity contracts Other current assets 8 (5) 3 Total $ 33 $ (22) $ 11 Total asset derivatives $ 632 $ (443) $ 189 Liability derivatives Derivatives designated as hedging instruments: Interest rate contracts Accrued and other current liabilities $ 33 $ (14) $ 19 Interest rate contracts Other noncurrent obligations 192 (130) 62 Foreign currency contracts Accrued and other current liabilities 15 (13) 2 Foreign currency contracts Other noncurrent obligations 90 (89) 1 Commodity contracts Accrued and other current liabilities 267 (192) 75 Commodity contracts Other noncurrent obligations 2 (2) — Total $ 599 $ (440) $ 159 Derivatives not designated as hedging instruments: Interest rate contracts Accrued and other current liabilities $ 59 $ — $ 59 Foreign currency contracts Accrued and other current liabilities 31 (16) 15 Foreign currency contracts Other noncurrent obligations 1 (1) — Commodity contracts Accrued and other current liabilities 25 (8) 17 Total $ 116 $ (25) $ 91 Total liability derivatives $ 715 $ (465) $ 250
Derivative Instruments, Gain (Loss)	The following tables summarize the gain (loss) of derivative instruments in the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2022 and 2021: Effect of Derivative Instruments Amount of gain (loss) recognized in OCI 1 Amount of gain (loss) recognized in income 2 Income Statement Classification Three Months Ended Three Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Derivatives designated as hedging instruments: Cash flow hedges: Interest rate contracts $ 108 $ (44) $ (2) $ (2) Interest expense and amortization of debt discount Foreign currency contracts 4 1 3 (4) Cost of sales Commodity contracts 80 41 107 (2) Cost of sales Net foreign investment hedges: Foreign currency contracts 49 3 — — Excluded components 3 5 3 11 3 Sundry income (expense) - net Total derivatives designated as hedging instruments $ 246 $ 4 $ 119 $ (5) Derivatives not designated as hedging instruments: Interest rate contracts $ — $ — $ — $ (1) Interest expense and amortization of debt discount Foreign currency contracts — — (191) (5) Sundry income (expense) - net Commodity contracts — — 7 (5) Cost of sales Total derivatives not designated as hedging instruments $ — $ — $ (184) $ (11) Total derivatives $ 246 $ 4 $ (65) $ (16) 1. OCI is defined as other comprehensive income (loss). 2. Pretax amounts. 3. The excluded components are related to the time value of the derivatives designated as hedges. Effect of Derivative Instruments Amount of gain (loss) recognized in OCI 1 Amount of gain (loss) recognized in income 2 Income Statement Classification Six Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Derivatives designated as hedging instruments: Fair value hedges: Interest rate contracts $ — $ — $ — $ (25) Interest expense and amortization of debt discount 3 Excluded components 4 — 2 — — Interest expense and amortization of debt discount Cash flow hedges: Interest rate contracts 207 (44) (5) (5) Interest expense and amortization of debt discount Foreign currency contracts 6 6 6 (12) Cost of sales Commodity contracts 287 106 141 11 Cost of sales Net foreign investment hedges: Foreign currency contracts 47 13 — — Excluded components 4 34 8 23 4 Sundry income (expense) - net Total derivatives designated as hedging instruments $ 581 $ 91 $ 165 $ (27) Derivatives not designated as hedging instruments: Interest rate contracts $ — $ — $ (1) $ (3) Interest expense and amortization of debt discount Foreign currency contracts — — (276) (118) Sundry income (expense) - net Commodity contracts — — 29 (35) Cost of sales Total derivatives not designated as hedging instruments $ — $ — $ (248) $ (156) Total derivatives $ 581 $ 91 $ (83) $ (183) 1. OCI is defined as other comprehensive income (loss). 2. Pretax amounts. 3. Gain (loss) recognized in income of derivatives is offset by gain (loss) recognized in income of the hedged item. 4. The excluded components are related to the time value of the derivatives designated as hedges.
Schedule of Hedging Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized Over Next Fiscal Year	The following table provides the net after-tax gain (loss) expected to be reclassified from AOCL to income within the next 12 months: Expected Reclassifications from AOCL within the next 12 months Jun 30, 2022 In millions Cash flow hedges: Interest rate contracts $ (8) Commodity contracts $ 208 Foreign currency contracts $ 10 Net foreign investment hedges: Excluded components $ 18

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis: Basis of Fair Value Measurements on a Recurring Basis Jun 30, 2022 Dec 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total In millions Assets at fair value: Cash equivalents: Held-to-maturity securities 1 $ — $ 277 $ — $ 277 $ — $ 317 $ — $ 317 Money market funds — 702 — 702 — 489 — 489 Marketable securities 2 — 169 — 169 — 245 — 245 Equity securities 3 12 — — 12 20 — — 20 Nonconsolidated affiliates 4 — — 18 18 — — — — Debt securities: 3 Government debt 5 — 615 — 615 — 735 — 735 Corporate bonds 32 1,094 — 1,126 44 1,280 — 1,324 Derivatives relating to: 6 Interest rates — 501 — 501 — 145 — 145 Foreign currency — 375 — 375 — 165 — 165 Commodities 19 699 — 718 15 307 — 322 Total assets at fair value $ 63 $ 4,432 $ 18 $ 4,513 $ 79 $ 3,683 $ — $ 3,762 Liabilities at fair value: Long-term debt including debt due within one year 7 $ — $ 12,726 $ — $ 12,726 $ — $ 17,125 $ — $ 17,125 Guarantee liability 8 — — 210 210 — — 220 220 Derivatives relating to: 6 Interest rates — 334 — 334 — 284 — 284 Foreign currency — 400 — 400 — 137 — 137 Commodities 46 571 — 617 37 257 — 294 Total liabilities at fair value $ 46 $ 14,031 $ 210 $ 14,287 $ 37 $ 17,803 $ 220 $ 18,060 1. The Company's held-to-maturity securities primarily included treasury bills and time deposits. 2. The Company’s investments in marketable securities are included in “Other current assets” in the consolidated balance sheets. 3. The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities are included in “Other investments” in the consolidated balance sheets. 4. Estimated asset for the Company's investment in a limited liability company included in "Investment in nonconsolidated affiliates" in the consolidated balance sheets. 5. U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations. 6. See Note 18 for the classification of derivatives in the consolidated balance sheets. 7. See Note 18 for information on fair value measurements of long-term debt. 8. Estimated liability for TDCC's guarantee of Sadara's debt which is included in "Other noncurrent obligations" in the consolidated balance sheets. See Note 12 for additional information.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2022
Variable Interest Entity, Primary Beneficiary [Member]
Schedule of Variable Interest Entities [Table Text Block]	The following table summarizes the carrying amounts of these entities' assets and liabilities included in the Company’s consolidated balance sheets at June 30, 2022 and December 31, 2021: Assets and Liabilities of Consolidated VIEs Jun 30, 2022 Dec 31, 2021 In millions Cash and cash equivalents $ 44 $ 40 Other current assets 35 40 Net property 167 184 Other noncurrent assets 14 15 Total assets 1 $ 260 $ 279 Current liabilities $ 40 $ 37 Long-term debt 1 3 Other noncurrent obligations 11 13 Total liabilities 2 $ 52 $ 53 1. All assets were restricted at June 30, 2022 and December 31, 2021. 2. All liabilities were nonrecourse at June 30, 2022 and December 31, 2021.
Variable Interest Entity, Not Primary Beneficiary [Member]
Schedule of Variable Interest Entities [Table Text Block]	The following table summarizes the carrying amounts of assets included in the consolidated balance sheets at June 30, 2022 and December 31, 2021, related to variable interests in joint ventures or entities for which the Company is not the primary beneficiary. The Company's maximum exposure to loss is the same as the carrying amounts. Carrying Amounts of Assets Related to Nonconsolidated VIEs Jun 30, 2022 Dec 31, 2021 In millions Description of asset Silicon joint ventures Equity method investments 1 $ 116 $ 110 1. Included in "Investment in nonconsolidated affiliates" in the consolidated balance sheets.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Dividends Declared	The following table summarizes cash dividends TDCC declared and paid to Dow Inc. for the three and six months ended June 30, 2022 and 2021: TDCC Cash Dividends Declared and Paid Three Months Ended Six Months Ended Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 In millions Cash dividends declared and paid $ 1,333 $ 739 $ 2,454 $ 1,442

SEGMENTS AND GEOGRAPHIC REGIO_2

SEGMENTS AND GEOGRAPHIC REGIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Segment Information Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Materials & Coatings Corp. Total In millions Three months ended Jun 30, 2022 Net sales $ 8,233 $ 4,370 $ 3,003 $ 58 $ 15,664 Equity in earnings (losses) of nonconsolidated affiliates $ 138 $ 57 $ 2 $ (2) $ 195 Dow Inc. Operating EBIT 1 $ 1,436 $ 426 $ 561 $ (48) $ 2,375 Three months ended Jun 30, 2021 Net sales $ 7,121 $ 4,215 $ 2,465 $ 84 $ 13,885 Equity in earnings of nonconsolidated affiliates $ 130 $ 144 $ — $ 4 $ 278 Dow Inc. Operating EBIT 1 $ 2,014 $ 648 $ 225 $ (59) $ 2,828 Six months ended Jun 30, 2022 Net sales $ 15,860 $ 8,894 $ 6,052 $ 122 $ 30,928 Equity in earnings (losses) of nonconsolidated affiliates $ 248 $ 119 $ 5 $ (3) $ 369 Dow Inc. Operating EBIT 1 $ 2,670 $ 1,087 $ 1,156 $ (119) $ 4,794 Six months ended Jun 30, 2021 Net sales $ 13,203 $ 7,822 $ 4,588 $ 154 $ 25,767 Equity in earnings of nonconsolidated affiliates $ 236 $ 259 $ 2 $ 5 $ 502 Dow Inc. Operating EBIT 1 $ 3,242 $ 974 $ 287 $ (121) $ 4,382 1. Operating EBIT for TDCC for the three and six months ended June 30, 2022 and 2021 is substantially the same as that of Dow Inc. and therefore has not been disclosed separately in the table above. A reconciliation of "Net income" to Operating EBIT is provided in the following table.
Reconciliation of income from continuing operations, net of tax to Operating EBIT [Table Text Block]	Reconciliation of "Net income" to Operating EBIT Three Months Ended Six Months Ended In millions Jun 30, 2022 Jun 30, 2021 Jun 30, 2022 Jun 30, 2021 Net income $ 1,681 $ 1,932 $ 3,233 $ 2,938 + Provision for income taxes 488 524 991 841 Income before income taxes $ 2,169 $ 2,456 $ 4,224 $ 3,779 - Interest income 36 13 64 21 + Interest expense and amortization of debt discount 165 187 332 383 - Significant items (77) (198) (302) (241) Operating EBIT $ 2,375 $ 2,828 $ 4,794 $ 4,382
Schedule of significant items [Table Text Block]	The following tables summarize the pretax impact of significant items by segment excluded from Operating EBIT: Significant Items by Segment Three Months Ended Jun 30, 2022 Six Months Ended Jun 30, 2022 Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total In millions Digitalization program costs 1 $ — $ — $ — $ (51) $ (51) $ — $ — $ — $ (92) $ (92) Restructuring, implementation costs and asset related charges - net 2 — — — (10) (10) — — — (20) (20) Russia / Ukraine conflict charges 3 — — — — — (31) (109) (16) (30) (186) Loss on early extinguishment of debt 4 — — — (8) (8) — — — (8) (8) Indemnification and other transaction related costs 5 — — — (8) (8) — — — 4 4 Total $ — $ — $ — $ (77) $ (77) $ (31) $ (109) $ (16) $ (146) $ (302) 1. Includes costs associated with implementing the Company's Digital Acceleration program. 2. Includes costs associated with implementing the Company's 2020 Restructuring Program. 3. Asset related charges due to the Russia and Ukraine conflict. See Note 4 for additional information. 4. The Company redeemed outstanding long-term debt resulting in a loss on early extinguishment. See Note 11 for additional information. 5. Primarily related to charges associated with agreements entered into with DuPont de Nemours, Inc. and Corteva, Inc. as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. See Note 2 for additional information. Significant Items by Segment Three Months Ended Jun 30, 2021 Six Months Ended Jun 30, 2021 Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total Pack. & Spec. Plastics Ind. Interm. & Infrast. Perf. Mat. & Coatings Corp. Total In millions Digitalization program costs 1 $ — $ — $ — $ (48) $ (48) $ — $ — $ — $ (81) $ (81) Restructuring, implementation costs and asset related charges - net 2 (8) (1) (10) (24) (43) (8) (1) (10) (34) (53) Loss on early extinguishment of debt 3 — — — (102) (102) — — — (102) (102) Indemnification and other transactions related costs 4 — — — (5) (5) — — — (5) (5) Total $ (8) $ (1) $ (10) $ (179) $ (198) $ (8) $ (1) $ (10) $ (222) $ (241) 1. Includes costs associated with implementing the Company's Digital Acceleration program. 2. Includes costs associated with implementing the Company's 2020 Restructuring Program. 3. The Company redeemed outstanding long-term debt resulting in a loss on early extinguishment. See Note 11 for additional information. 4. Primarily related to charges associated with agreements entered into with DuPont de Nemours, Inc. and Corteva, Inc. as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. See Note 2 for additional information.

SEPARATION FROM DOWDUPONT Sep_2

SEPARATION FROM DOWDUPONT Separation, Distribution and Tax Agreements (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Other Current Assets [Member]
Indemnification Asset	$ 19	$ 0
Other noncurrent assets
Indemnification Asset	2	20
Accrued and Other Current Liabilities [Member]
Indemnification liability	123	148
Deferred cash contribution	10	15
Other Noncurrent Obligations [Member]
Indemnification liability	33	39
Deferred cash contribution	$ 96	$ 96

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue from External Customer [Line Items]
Revenue, Percentage from Products and Service Transferred to Customers	99%	98%	99%	98%
Revenue, Remaining Performance Obligation, Amount	$ 911		$ 911		$ 829
Revenues	15,664	$ 13,885	30,928	$ 25,767
Contract with Customer, Liability, Revenue Recognized			105	180
Accounts and notes receivable - Trade	7,474		7,474		6,841
Contract assets - current	36		36		34
Contract assets - noncurrent	25		25		26
Contract liabilities - current	259		259		209
Contract liabilities - noncurrent 1	1,818		1,818		1,925
The Dow Chemical Company
Revenue from External Customer [Line Items]
Accounts and notes receivable - Trade	7,474		7,474		$ 6,841
U.S. & Canada
Revenue from External Customer [Line Items]
Revenues	5,707	4,927	11,244	8,955
EMEAI 1
Revenue from External Customer [Line Items]
Revenues	5,677	5,102	11,189	9,431
Asia Pacific
Revenue from External Customer [Line Items]
Revenues	2,673	2,479	5,426	4,844
Latin America
Revenue from External Customer [Line Items]
Revenues	$ 1,607	1,377	$ 3,069	2,537
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	18 years		18 years
Packaging & Specialty Plastics [Member]
Revenue from External Customer [Line Items]
Revenues	$ 8,233	7,121	$ 15,860	13,203
Packaging & Specialty Plastics [Member] | Hydrocarbons & Energy [Member]
Revenue from External Customer [Line Items]
Revenues	2,779	2,008	5,195	3,759
Packaging & Specialty Plastics [Member] | Packaging and Specialty Plastics [Member]
Revenue from External Customer [Line Items]
Revenues	5,454	5,113	10,665	9,444
Industrial Intermediates & Infrastructure [Member]
Revenue from External Customer [Line Items]
Revenues	4,370	4,215	8,894	7,822
Industrial Intermediates & Infrastructure [Member] | Industrial Solutions [Member]
Revenue from External Customer [Line Items]
Revenues	1,446	1,201	2,961	2,250
Industrial Intermediates & Infrastructure [Member] | Polyurethanes & CAV [Member]
Revenue from External Customer [Line Items]
Revenues	2,919	3,012	5,924	5,568
Industrial Intermediates & Infrastructure [Member] | Other [Member]
Revenue from External Customer [Line Items]
Revenues	5	2	9	4
Performance Materials & Coatings [Member]
Revenue from External Customer [Line Items]
Revenues	3,003	2,465	6,052	4,588
Performance Materials & Coatings [Member] | Coatings and Performance Monomers [Member]
Revenue from External Customer [Line Items]
Revenues	1,129	1,010	2,204	1,865
Performance Materials & Coatings [Member] | Consumer Solutions [Member]
Revenue from External Customer [Line Items]
Revenues	1,874	1,455	3,848	2,723
Corporate Segment [Member]
Revenue from External Customer [Line Items]
Revenues	$ 58	$ 84	$ 122	$ 154

Restructuring and related act_2

Restructuring and related activities (2020 Restructuring Program) (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		22 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 10				$ 43		$ 20	$ 53
Packaging & Specialty Plastics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0				8		0	8
Industrial Intermediates & Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0				1		0	1
Performance Materials & Coatings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0				10		0	10
Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	10				24		20	34
2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					22
Restructuring Charges									$ 585
Restructuring Reserve, Settled without Cash					(12)
Payments for Restructuring	10	$ 60	$ 34	$ 57	56	$ 49
Restructuring Reserve	98	108	168	212	269	315	98	269	98	$ 364
2020 Restructuring Program [Member] | Accrued and Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	44		112				44		44
2020 Restructuring Program [Member] | Other Noncurrent Obligations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	54		56				54		54
2020 Restructuring Program [Member] | Packaging & Specialty Plastics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					8
2020 Restructuring Program [Member] | Industrial Intermediates & Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					1
2020 Restructuring Program [Member] | Performance Materials & Coatings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					10
2020 Restructuring Program [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net			(10)		3
Employee Severance [Member] | 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					0
Restructuring Charges									287
Restructuring Reserve, Settled without Cash					0
Payments for Restructuring	8	59	30	55	53	37
Restructuring Reserve	37	45	104	144	199	252	37	199	37	289
Employee Severance [Member] | 2020 Restructuring Program [Member] | Packaging & Specialty Plastics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					0
Employee Severance [Member] | 2020 Restructuring Program [Member] | Industrial Intermediates & Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					0
Employee Severance [Member] | 2020 Restructuring Program [Member] | Performance Materials & Coatings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					0
Employee Severance [Member] | 2020 Restructuring Program [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net			(10)		0
Asset write-downs and write-offs [Member] | 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					12
Restructuring Charges									208
Restructuring Reserve, Settled without Cash					(12)
Payments for Restructuring	0	0	0	0	0	0
Restructuring Reserve	0	0	0	0	0	0	0	0	0	0
Asset write-downs and write-offs [Member] | 2020 Restructuring Program [Member] | Packaging & Specialty Plastics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					0
Asset write-downs and write-offs [Member] | 2020 Restructuring Program [Member] | Industrial Intermediates & Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					1
Asset write-downs and write-offs [Member] | 2020 Restructuring Program [Member] | Performance Materials & Coatings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					8
Asset write-downs and write-offs [Member] | 2020 Restructuring Program [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net			0		3
Costs Associated with Exit and Disposal Activities [Member] | 2020 Restructuring Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					10
Restructuring Charges									90
Restructuring Reserve, Settled without Cash					0
Payments for Restructuring	2	1	4	2	3	12
Restructuring Reserve	$ 61	$ 63	64	$ 68	70	$ 63	$ 61	$ 70	$ 61	$ 75
Costs Associated with Exit and Disposal Activities [Member] | 2020 Restructuring Program [Member] | Packaging & Specialty Plastics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					8
Costs Associated with Exit and Disposal Activities [Member] | 2020 Restructuring Program [Member] | Industrial Intermediates & Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					0
Costs Associated with Exit and Disposal Activities [Member] | 2020 Restructuring Program [Member] | Performance Materials & Coatings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net					2
Costs Associated with Exit and Disposal Activities [Member] | 2020 Restructuring Program [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and asset related charges - net			$ 0		$ 0

Restructuring and Related Act_3

Restructuring and Related Activities (Asset Related Charges) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges	$ 0		$ 186
Restructuring and Asset Related Charges - Net
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges		$ 186
Packaging & Specialty Plastics [Member]
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges	0		31
Packaging & Specialty Plastics [Member] | Restructuring and Asset Related Charges - Net
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges		31
Industrial Intermediates & Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges	0		109
Industrial Intermediates & Infrastructure [Member] | Restructuring and Asset Related Charges - Net
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges		109
Performance Materials & Coatings [Member]
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges	0		16
Performance Materials & Coatings [Member] | Restructuring and Asset Related Charges - Net
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges		16
Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges	$ 0		$ 30
Corporate Segment [Member] | Restructuring and Asset Related Charges - Net
Restructuring Cost and Reserve [Line Items]
Russia and Ukraine Conflict Asset Related Charges		$ 30

Summary of Sundry Income (Expen

Summary of Sundry Income (Expense) - Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Gain (Loss) on Extinguishment of Debt	$ (8)	$ (102)	$ (8)	$ (102)
Charges related to separation, distribution and tax matters agreements	8	5	(4)	5
Sundry income (expense) - net	75	(3)	223	125
Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	89	86	178	161
Foreign Currency Transaction Gain (Loss), before Tax	(17)	(8)	(15)	(16)
Gain (Loss) on Extinguishment of Debt	8	102	8	102
Gain (Loss) on Disposition of Other Assets	12	14	43	62
Charges related to separation, distribution and tax matters agreements	(8)	(5)	(4)	(5)
Other Nonoperating Income (Expense)	7	12	21	25
Sundry income (expense) - net	75	(3)	223	125
The Dow Chemical Company
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	89	86	178	161
Foreign Currency Transaction Gain (Loss), before Tax	(22)	(4)	(20)	(16)
Gain (Loss) on Extinguishment of Debt	8	102	8	102
Gain (Loss) on Disposition of Other Assets	12	14	43	62
Other Nonoperating Income (Expense)	7	12	21	20
Sundry income (expense) - net	$ 78	$ 6	$ 214	$ 125

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 1,681	$ 1,932	$ 3,233	$ 2,938
Net income attributable to noncontrolling interests	20	31	3	46
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	9	10	17	15
Net Income (Loss) Available to Common Stockholders, Basic	$ 1,652	$ 1,891	$ 3,213	$ 2,877
Earnings Per Share, Basic	$ 2.28	$ 2.53	$ 4.40	$ 3.86
Earnings Per Share, Diluted	$ 2.26	$ 2.51	$ 4.37	$ 3.83
Weighted-average common shares outstanding - basic	725.7	747	730.2	745.9
Dilutive effect of equity compensation plans	5.8	5.9	5.4	5.5
Weighted-average common shares outstanding - diluted	731.5	752.9	735.6	751.4
Stock options and restricted stock units excluded from EPS calculations	4	3.8	5.4	4.8

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 5,174	$ 4,554
Work in process	1,994	1,615
Raw materials	1,024	822
Supplies	871	866
Total	9,063	7,857
Adjustment of inventories to a LIFO basis	(838)	(485)
Total inventories	$ 8,225	$ 7,372

NONCONSOLIDATED AFFILIATES (Det

NONCONSOLIDATED AFFILIATES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investment in nonconsolidated affiliates	$ 1,862		$ 2,045
Equity Method Investment, Liability, Noncurrent	103		0
Equity Method Investment, Net of Investment Liabilities	1,759		2,045
Proceeds from Equity Method Investment, Distribution	736	$ 219
Other	2,243		2,713
Nonconsolidated Affiliates
Schedule of Equity Method Investments [Line Items]
Proceeds from Equity Method Investment, Distribution	658
Siam Joint Ventures
Schedule of Equity Method Investments [Line Items]
Other	78
EQUATE Petrochemical Company Ksc [Member]
Schedule of Equity Method Investments [Line Items]
Investment in nonconsolidated affiliates			$ 115
Equity Method Investment, Liability, Noncurrent	103
Proceeds from Equity Method Investment, Distribution	$ 397	$ 79

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 8,605	$ 8,764
Goodwill, Foreign Currency Translation Gain (Loss)	(159)
Packaging & Specialty Plastics [Member]
Goodwill [Line Items]
Goodwill	5,097	5,105
Goodwill, Foreign Currency Translation Gain (Loss)	(8)
Industrial Intermediates & Infrastructure [Member]
Goodwill [Line Items]
Goodwill	1,092	1,096
Goodwill, Foreign Currency Translation Gain (Loss)	(4)
Performance Materials & Coatings [Member]
Goodwill [Line Items]
Goodwill	2,416	$ 2,563
Goodwill, Foreign Currency Translation Gain (Loss)	$ (147)

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 7,432	$ 7,589
Finite-Lived Intangible Assets, Accumulated Amortization	(4,833)	(4,725)
Finite-Lived Intangible Assets, Net	2,599	2,864
Intangible Assets, Gross (Excluding Goodwill)	7,449	7,606
Other intangible assets	2,616	2,881
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	17	17
Indefinite Lived Intangible Assets (Excluding Goodwill), Accumulated Amortization	0	0
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	2,633	2,637
Finite-Lived Intangible Assets, Accumulated Amortization	(1,947)	(1,871)
Finite-Lived Intangible Assets, Net	686	766
Software
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,368	1,396
Finite-Lived Intangible Assets, Accumulated Amortization	(950)	(945)
Finite-Lived Intangible Assets, Net	418	451
Trademarks/tradenames
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	352	352
Finite-Lived Intangible Assets, Accumulated Amortization	(345)	(344)
Finite-Lived Intangible Assets, Net	7	8
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	3,079	3,204
Finite-Lived Intangible Assets, Accumulated Amortization	(1,591)	(1,565)
Finite-Lived Intangible Assets, Net	$ 1,488	$ 1,639

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 85	$ 100	$ 173	$ 201
Other intangible assets, excluding software
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	85	100	173	201
Software
Finite-Lived Intangible Assets [Line Items]
Amortization of intangibles	$ 20	$ 23	$ 40	$ 45

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Future Amortization Expense (Details) $ in Millions	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 415
2022	381
2023	362
2024	271
2025	196
2026	$ 164

TRANSFERS OF FINANCIAL ASSETS (

TRANSFERS OF FINANCIAL ASSETS (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 EUR (€)
Accounts Receivable Facility, U.S.
Trade Accounts Receivable Eligible for Sale	$ 900		$ 900
Accounts Receivable Facility, Europe [Member]
Trade Accounts Receivable Eligible for Sale | €					€ 500
Accounts Receivable Facility, U.S. and Europe
Cash Flows Between Transferor and Transferee, Proceeds from New Transfers	$ 141	$ 0	$ 391	$ 0

NOTES PAYABLE, LONG-TERM DEBT_3

NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Notes Payable (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Short-term Debt	$ 295	$ 161
Period-end average interest rates	4.59%	5.78%
Commercial Paper [Member]
Short-term Debt [Line Items]
Short-term Debt	$ 200	$ 0
Notes Payable to Banks [Member]
Short-term Debt [Line Items]
Short-term Debt	$ 95	$ 161

NOTES PAYABLE, LONG-TERM DEBT_4

NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Long-Term Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Finance lease obligations 2	$ 826		$ 826
Unamortized debt discount and issuance costs	(275)		(275)		$ (297)
Long-term debt due within one year 3	(361)		(361)		(231)
Long-Term Debt	13,065		13,065		14,280
Long Term Debt, Accumulated Fair Value Adjustment	47		47		$ 47
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year	58		58
Long-Term Debt, Maturity, Year One	388		388
Long-term Debt, Maturities, Repayments of Principal in Year Two	81		81
Long-term Debt, Maturities, Repayments of Principal in Year Three	386		386
Long-term Debt, Maturities, Repayments of Principal in Year Four	78		78
Long-term Debt, Maturities, Repayments of Principal in Year Five	1,113		1,113
Gain (Loss) on Extinguishment of Debt	(8)	$ (102)	(8)	$ (102)
Repayments of Long-term Debt			$ 121	120
Three Point Six Two Five Percent Notes Due May 2026
Debt Instrument [Line Items]
Repayments of Debt	$ 750
Debt Instrument, Interest Rate, Stated Percentage	3.625%		3.625%
3.625 Percent Notes Due May 2026 | Sundry Income (Expense), Net [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 8
InterNotes redeemed [Member]
Debt Instrument [Line Items]
Notes Issued			$ 49	68
Repayments of Notes Payable				18
Long-term Debt Repayment - Variable Interest Entity
Debt Instrument [Line Items]
Repayments of Debt				13
InterNotes Redeemed, Various Maturities
Debt Instrument [Line Items]
Repayments of Notes Payable				$ 204
InterNotes Redeemed, Various Maturities | Sundry Income (Expense), Net [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt		1
Three Point One Five Percent Notes Due 2024
Debt Instrument [Line Items]
Repayments of Debt		$ 208
Debt Instrument, Interest Rate, Stated Percentage		3.15%		3.15%
Three Point Five Percent Notes Due 2024
Debt Instrument [Line Items]
Repayments of Debt		$ 811
Debt Instrument, Interest Rate, Stated Percentage		3.50%		3.50%
3.15 Percent Notes Due 2024 and 3.50 Percent Notes Due 2024 | Sundry Income (Expense), Net [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt		$ 101
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Current Year [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	0%		0%		8.64%
Long-term Debt, Gross	$ 0		$ 0		$ 121
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year One [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	7.63%		7.63%		7.63%
Long-term Debt, Gross	$ 250		$ 250		$ 250
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Three [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	5.63%		5.63%		5.63%
Long-term Debt, Gross	$ 333		$ 333		$ 333
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Four [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	0%		0%		3.63%
Long-term Debt, Gross	$ 0		$ 0		$ 750
Loans Payable [Member] | Promissory Notes and Debentures, Final Maturity, Year Six and Thereafter [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	5.15%		5.15%		5.15%
Long-term Debt, Gross	$ 9,364		$ 9,364		$ 9,363
Loans Payable [Member] | Foreign Currency Loans [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	1.16%		1.16%		1.17%
Long-term Debt, Gross	$ 2,492		$ 2,492		$ 2,730
Medium-term Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	3.44%		3.44%		3.37%
Long-term Debt, Gross	$ 436		$ 436		$ 392
Finance Leases [Member]
Debt Instrument [Line Items]
Finance lease obligations 2	$ 826		$ 826		$ 869

NOTES PAYABLE, LONG-TERM DEBT_5

NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES Committed and Available Credit Facilities (Details) $ in Millions	Jun. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 8,400
Line of Credit Facility, Remaining Borrowing Capacity	8,400
Revolving Credit Facility [Member] | Five Year Competitive Advance and Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	5,000
Line of Credit Facility, Remaining Borrowing Capacity	5,000
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2022. Facility One
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200
Line of Credit Facility, Remaining Borrowing Capacity	200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2022
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200
Line of Credit Facility, Remaining Borrowing Capacity	200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2023, Facility One
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200
Line of Credit Facility, Remaining Borrowing Capacity	200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2023, Facility Two
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250
Line of Credit Facility, Remaining Borrowing Capacity	250
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due September 2023, Facility Three
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300
Line of Credit Facility, Remaining Borrowing Capacity	300
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due December 2023, Facility One
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300
Line of Credit Facility, Remaining Borrowing Capacity	300
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due December 2023, Facility Two
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	300
Line of Credit Facility, Remaining Borrowing Capacity	300
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due October 2024
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2024 [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200
Line of Credit Facility, Remaining Borrowing Capacity	200
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2025, Facility One [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2025, Facility Two [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250
Line of Credit Facility, Remaining Borrowing Capacity	250
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2025, Facility Three [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2025, Facility Four
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due March 2026
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due October 2026
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due November 2026
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	150
Line of Credit Facility, Remaining Borrowing Capacity	150
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due May 2027
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Line of Credit Facility, Remaining Borrowing Capacity	100
Revolving Credit Facility [Member] | Bilateral Revolving Credit Facility, Due June 2027
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	350
Line of Credit Facility, Remaining Borrowing Capacity	$ 350

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Environmental Matters) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 1,238	$ 1,220
Accrual For Environmental Loss Contingencies Superfund Sites [Member]
Loss Contingencies [Line Items]
Accrual for environmental loss contingencies	$ 241	$ 237

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES (Asbestos-Related Matters of Union Carbide Corporation) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Liability for Asbestos and Environmental Claims, Gross	$ 977	$ 1,016
Percentage of recorded asbestos liability related to pending claims	27%
Percentage of recorded asbestos liability related to future claims	73%

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES (Dow Silicones Chapter 11 Related Matters) (Details) - Dow Silicones Corporation [Member] - Breast Implant and Other Products Liability Claims [Member] - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Product Liability Contingency [Line Items]
Product Liability Contingency, Payments Incurred To Date	$ 1,817
Loss Contingency Accrual, Product Liability, Net	$ 106	$ 130

COMMITMENTS AND CONTINGENCIES I

COMMITMENTS AND CONTINGENCIES Indemnifications with Corning (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Dow Silicones Corporation [Member]
Loss Contingencies [Line Items]
Indemnification Asset	$ 96	$ 95

COMMITMENTS AND CONTINGENCIES_6

COMMITMENTS AND CONTINGENCIES (Nova Patent Infringement Matter) (Details) - Dow V. Nova Chemicals Corporation Patent Infringement Matter [Member] $ in Millions, $ in Millions	Jul. 06, 2017 USD ($)	Jun. 29, 2017 CAD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Gain Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party		$ 645
Proceeds from Legal Settlements	$ 501
Estimated Litigation Liability, Current			$ 341	$ 341

COMMITMENTS AND CONTINGENCIES N

COMMITMENTS AND CONTINGENCIES Nova Ethylene Asset Matter (Details) - Nova Ethylene Asset Matter [Member] $ in Millions, $ in Millions						1 Months Ended
	Mar. 31, 2020 USD ($)	Oct. 11, 2019 CAD ($)	Oct. 11, 2019 USD ($)	Sep. 18, 2019 CAD ($)	Sep. 18, 2019 USD ($)	Oct. 24, 2019 CAD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Gain Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party				$ 1,430	$ 1,080
Proceeds from Legal Settlements	$ 259	$ 1,080	$ 800
Litigation settlement, Amount Awarded from Other Party - Withholding Tax						$ 347
Estimated Litigation Liability, Noncurrent							$ 323	$ 323

Commitment and Contingencies (B

Commitment and Contingencies (Brazil Tax Credits) (Details) - Dow V. Brazil - Excess PIS/COFINS Taxes - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Gain Contingencies [Line Items]
Other Assets	$ 139		$ 52
Cost of Sales
Gain Contingencies [Line Items]
Gain on Indirect Tax Contingencies Realized	$ 112	$ 61

COMMITMENTS AND CONTINGENCIES_7

COMMITMENTS AND CONTINGENCIES (Guarantees) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Sadara Chemical Company [Member]
Guarantor Obligations [Line Items]
Equity Method Investment, Ownership Percentage	35%
Sadara Chemical Company [Member] | Total Project Financing [Member]
Guarantor Obligations [Line Items]
Guarantor obligations, maximum future payments	$ 443	$ 446
Performance Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor obligations, maximum future payments	1,248	1,273
Guarantor obligations, recorded liability	210	$ 220
Performance Guarantee [Member] | Sadara Chemical Company [Member]
Guarantor Obligations [Line Items]
Guarantor obligations, maximum future payments	1,300
Performance Guarantee [Member] | Sadara Chemical Company [Member] | Sadara Chemical Company [Member]
Guarantor Obligations [Line Items]
Guarantor obligations, maximum future payments	$ 500

LEASES COSTS AND OTHER INFORMAT

LEASES COSTS AND OTHER INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating Lease, Cost	$ 99	$ 118	$ 196	$ 239
Finance Lease, Right-of-Use Asset, Amortization	26	19	52	34
Finance Lease, Interest Expense	9	6	17	13
Finance Lease, Cost	35	25	69	47
Short-term Lease, Cost	66	71	125	120
Variable Lease, Cost	133	79	248	150
Sublease Income	(3)	(1)	(6)	(3)
Lease, Cost	$ 330	$ 292	632	553
Operating Lease, Payments			196	245
Finance Lease, Interest Payment on Liability			17	13
Finance Lease, Principal Payments			53	29
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability			37	57
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability			$ 27	$ 72

LEASES LEASE POSITION (Details)

LEASES LEASE POSITION (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Operating lease right-of-use assets	$ 1,272	$ 1,412
Property	57,180	57,604
Accumulated depreciation	(37,020)	(37,049)
Total Lease Assets	2,022	2,202
Operating lease liabilities - current	290	314
Finance Lease, Liability, Current	107	106
Operating lease liabilities - noncurrent	1,043	1,149
Finance Lease, Liability, Noncurrent	719	763
Total Lease Liabilities	2,159	2,332
Finance Leases [Member]
Property	1,145	1,158
Accumulated depreciation	$ (395)	$ (368)

LEASES TERM AND RATE (Details)

LEASES TERM AND RATE (Details)	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	7 years 9 months 18 days	7 years 10 months 24 days
Finance Lease, Weighted Average Remaining Lease Term	11 years 4 months 24 days	11 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	4.04%	3.72%
Finance Lease, Weighted Average Discount Rate, Percent	4.19%	4.17%

LEASES MATURITIES AND GUARANTEE

LEASES MATURITIES AND GUARANTEES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 179
Lessee, Operating Lease, Liability, to be Paid, Year One	289
Lessee, Operating Lease, Liability, Payments, Due Year Two	225
Lessee, Operating Lease, Liability, Payments, Due Year Three	183
Lessee, Operating Lease, Liability, Payments, Due Year Four	148
Lessee, Operating Lease, Liability, Payments, Due Year Five	567
Lessee, Operating Lease, Liability, Payments, Due	1,591
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	258
Operating Lease, Liability	1,333
Finance Lease, Liability, Payments, Remainder of Fiscal Year	71
Finance Lease, Liability, to be Paid, Year One	164
Finance Lease, Liability, Payments, Due Year Two	106
Finance Lease, Liability, Payments, Due Year Three	76
Finance Lease, Liability, to be Paid, Year Four	69
Finance Lease, Liability, Payments, Due Year Five	551
Finance Lease, Liability, Payment, Due	1,037
Finance Lease, Liability, Undiscounted Excess Amount	211
Finance lease obligations 2	826
Lessee, Additional Leases Not yet Commenced, Assumptions and Judgment, Amount	$ 91
Lessee, Additional Leases Not yet Commenced, Term of Contract	16 years
Residual Value Guarantees [Member]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 259	$ 280
Guarantor Obligations, Current Carrying Value	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (9,204)	$ (9,676)	$ (9,204)	$ (9,676)		$ (8,977)
Other Comprehensive Income (Loss), Net of Tax	(408)	237	(227)	1,179
Derivative instruments	137	6	469	116
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(190)	72	(190)	72	$ (37)	59	$ 55	$ 104
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(203)	39	(324)	(15)
Other Comprehensive Income (Loss), Tax	43	(9)	67	2
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(160)	30	(257)	(13)
Other Comprehensive Income (Loss), Net of Tax	(153)	17	(249)	(32)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	9	(17)	10	(25)
Reclassification from AOCI, Current Period, Tax	(2)	4	(2)	6
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	7	(13)	8	(19)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(2,033)	(1,118)	(2,033)	(1,118)	(1,519)	(1,355)	(1,183)	(930)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(500)	67	(665)	(150)
Other Comprehensive Income (Loss), Tax	(3)	1	10	(35)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(503)	68	(655)	(185)
Other Comprehensive Income (Loss), Net of Tax	(514)	65	(678)	(188)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(11)	(3)	(23)	(3)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(7,103)	(8,276)	(7,103)	(8,276)	(7,225)	(7,334)	(8,425)	(9,559)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	3	0	5	1,268
Other Comprehensive Income (Loss), Tax	0	0	0	(298)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	3	0	5	970
Other Comprehensive Income (Loss), Net of Tax	122	149	231	1,283
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	156	194	313	392
Reclassification from AOCI, Current Period, Tax	(37)	(45)	(87)	(79)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	119	149	226	313
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	122	(354)	122	(354)	$ (15)	$ (347)	$ (360)	$ (470)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	260	(10)	680	112
Other Comprehensive Income (Loss), Tax	(27)	8	(83)	(1)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	233	(2)	597	111
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(108)	9	(142)	6
Reclassification from AOCI, Current Period, Tax	12	(1)	14	(1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(96)	8	(128)	5
Derivative instruments	$ 137	$ 6	$ 469	$ 116

STOCKHOLDERS' EQUITY (Treasury

STOCKHOLDERS' EQUITY (Treasury Stock) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Apr. 13, 2022	Apr. 01, 2019
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount					$ 3,000	$ 3,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 2,975		$ 2,975
Treasury Stock, Common
Equity, Class of Treasury Stock [Line Items]
Treasury Stock, Value, Acquired, Cost Method	$ 800	$ 200	$ 1,400	$ 200

NONCONTROLLING INTERESTS Nonc_3

NONCONTROLLING INTERESTS Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Noncontrolling Interest [Line Items]
Balance at beginning of period			$ 574
Balance at end of period	$ 534	$ 580	534	$ 580
Dividends Paid to a Joint Venture Not Included in Distributions to NCI	7	8	7	8
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Balance at beginning of period	545	560	574	570
Net income attributable to noncontrolling interests	20	31	3	46
Distributions to noncontrolling interests 2	(14)	(12)	(15)	(20)
Cumulative translation adjustments	(16)	1	(27)	(15)
Other	(1)	0	(1)	(1)
Balance at end of period	$ 534	$ 580	$ 534	$ 580

PENSION PLANS AND OTHER POSTR_3

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Pension Plan [Member]
Defined Benefit Plan Disclosures [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 250		$ 250
Defined Benefit Plan, Plan Assets, Contributions by Employer			89
Service cost	99	$ 96	198	$ 198
Interest cost	171	150	342	293
Expected return on plan assets	423	435	847	857
Amortization of prior service credit	(5)	(5)	(11)	(10)
Defined Benefit Plan, Amortization of (Gain) Loss	165	200	332	424
Curtailment gain	0	0	0	(19)
Net periodic benefit cost	7	6	14	29
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosures [Line Items]
Service cost	2	2	3	4
Interest cost	7	5	14	11
Defined Benefit Plan, Amortization of (Gain) Loss	(4)	(1)	(8)	(3)
Net periodic benefit cost	$ 5	$ 6	$ 9	$ 12

STOCK-BASED COMPENSATION (Stock

STOCK-BASED COMPENSATION (Stock Incentive Plan) (Details) - $ / shares shares in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	1.2
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 60.95
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 11.08
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate		10%
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent		85%
Employee Stock Purchase Plan | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Right to purchase shares subscribed by employees	2
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 60.96
Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 65.83

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cash Equivalents, at Carrying Value	$ 979	$ 806
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax	0	0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax	0	0
Cash Equivalents, Fair Value	979	806
Available-for-sale Debt Securities, Amortized Cost Basis, Current	164	237
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, Current, before Tax	5	8
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, Current, before Tax	0	0
Debt Securities, Available-for-sale, Current	169	245
Debt Securities, Available-for-sale, Amortized Cost	2,002	1,997
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	19	110
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(280)	(48)
Debt Securities, Available-for-sale	1,741	2,059
Equity Securities, Amortized Cost Basis	4	7
Equity Securities, Accumulated Gross Unrealized Gain, Before Tax	8	13
Equity Securities, Accumulated Gross Unrealized Loss, Before Tax	0	0
Equity Securities, Fair Value	12	20
Other Investments and Securities, at Cost	2,006	2,004
Other Investments and Securities, Accumulated Gross Unrealized Gain, Before Tax	27	123
Other Investments and Securities, Accumulated Gross Unrealized Loss, Before Tax	(280)	(48)
Investments, Fair Value Disclosure	1,753	2,079
Cash Equivalents, Marketable Securities and Other Investments, Amortized Cost Basis	3,149	3,047
Cash Equivalents, Marketable Securities and Other Investments, Accumulated Gross Unrealized Gain, Before Tax	32	131
Cash Equivalents, Marketable Securities and Other Investments, Accumulated Gross Unrealized Loss, Before Tax	(280)	(48)
Cash Equivalents, Marketable Securities and Other Investments, Fair Value	2,901	3,130
Long-term Debt	(13,426)	(14,511)
Long Term Debt, Accumulated Gross Unrealized Gain, Before Tax	1,267	27
Long Term Debt, Accumulated Gross Unrealized Loss, Before Tax	(567)	(2,641)
Long-term Debt, Fair Value	(12,726)	(17,125)
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax	621	189
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax	(347)	(250)
Derivative Assets (Liabilities), at Fair Value, Net	274	(61)
Long Term Debt, Accumulated Fair Value Adjustment	47	47
Derivative, Amount of Hedged Item	2,279
Interest Rate Contract [Member]
Debt Securities, Available-for-sale [Line Items]
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax	167	1
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax	0	(140)
Derivative Assets (Liabilities), at Fair Value, Net	167	(139)
Foreign Exchange Contract [Member]
Debt Securities, Available-for-sale [Line Items]
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax	88	46
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax	(113)	(18)
Derivative Assets (Liabilities), at Fair Value, Net	(25)	28
Commodity Contract [Member]
Debt Securities, Available-for-sale [Line Items]
Derivative Assets (Liabilities), Accumulated Gross Unrealized Gain, Before Tax	366	142
Derivative Assets (Liabilities), Accumulated Gross Unrealized Loss, Before Tax	(234)	(92)
Derivative Assets (Liabilities), at Fair Value, Net	132	50
US Treasury and Government [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	735	746
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1	17
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(121)	(28)
Debt Securities, Available-for-sale	615	735
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,267	1,251
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	18	93
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(159)	(20)
Debt Securities, Available-for-sale	1,126	1,324
Held-to-maturity Securities
Debt Securities, Available-for-sale [Line Items]
Cash Equivalents, at Carrying Value	277	317
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax	0	0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax	0	0
Cash Equivalents, Fair Value	277	317
Money Market Funds
Debt Securities, Available-for-sale [Line Items]
Cash Equivalents, at Carrying Value	702	489
Cash Equivalents, Accumulated Gross Unrealized Gain, Before Tax	0	0
Cash Equivalents, Accumulated Gross Unrealized Loss, Before Tax	0	0
Cash Equivalents, Fair Value	$ 702	$ 489

Debt Investments (Details)

Debt Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales of available-for-sale securities			$ 295	$ 260
Gross realized gains			20	31
Available-for-sale Securities, Gross Realized Losses			(30)	(6)
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost	$ 31		31
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value	28		28
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	449		449
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	419		419
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost	1,014		1,014
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value	870		870
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost	508		508
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value	424		424
Debt Securities, Available-for-sale, Amortized Cost	2,002		2,002		$ 1,997
Debt Securities, Available-for-sale	1,741		1,741		2,059
Equity Securities, Net Unrealized Gain (Loss)	3	$ 1	6	$ 1
Equity Securities, FV-NI, Current	12		12		20
Equity Securities without Readily Determinable Fair Value, Amount	$ 204		$ 204		$ 209

Notional Amounts (Details)

Notional Amounts (Details) $ in Millions	Jun. 30, 2022 USD ($) Boe MWh	Dec. 31, 2021 USD ($) MWh Boe
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 3,000	$ 3,000
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	3	36
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	5,173	5,300
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 14,393	$ 8,234
Commodity Contract Hydrocarbons | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Nonmonetary Notional Amount | Boe	17,300,000	9,700,000
Commodity Contract Hydrocarbons | Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Nonmonetary Notional Amount | Boe	0	100,000
Commodity Contract Power | Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Nonmonetary Notional Amount | MWh	10,300	3,300

Schedule of Fair Value of Deriv

Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	$ 53	$ 71
Fair Value, Inputs, Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	1,594	632
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(973)	(443)
Derivative Asset	621	189
Derivative Liability, Fair Value, Gross Liability	1,351	715
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(1,004)	(465)
Derivative Liability	347	250
Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	1,494	599
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(910)	(421)
Derivative Asset	584	178
Derivative Liability, Fair Value, Gross Liability	1,146	599
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(929)	(440)
Derivative Liability	217	159
Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	100	33
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(63)	(22)
Derivative Asset	37	11
Derivative Liability, Fair Value, Gross Liability	205	116
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(75)	(25)
Derivative Liability	130	91
Other Current Assets [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	501	14
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(334)	(14)
Derivative Asset	167	0
Other Current Assets [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		1
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset		0
Derivative Asset		1
Other Current Assets [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	309	24
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(228)	(13)
Derivative Asset	81	11
Other Current Assets [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	66	23
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(59)	(16)
Derivative Asset	7	7
Other Current Assets [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	670	305
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(348)	(173)
Derivative Asset	322	132
Other Current Assets [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	34	8
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	(4)	(5)
Derivative Asset	30	3
Deferred charges and other assets [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		130
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset		(130)
Derivative Asset		0
Deferred charges and other assets [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		117
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset		(89)
Derivative Asset		28
Deferred charges and other assets [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement		1
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset		(1)
Derivative Asset		0
Deferred charges and other assets [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	14	9
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset	0	(2)
Derivative Asset	14	7
Accrued and Other Current Liabilities [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	334	33
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(334)	(14)
Derivative Liability	0	19
Accrued and Other Current Liabilities [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		59
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		0
Derivative Liability		59
Accrued and Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	247	15
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(228)	(13)
Derivative Liability	19	2
Accrued and Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	153	31
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(59)	(16)
Derivative Liability	94	15
Accrued and Other Current Liabilities [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	564	267
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(366)	(192)
Derivative Liability	198	75
Accrued and Other Current Liabilities [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	52	25
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(16)	(8)
Derivative Liability	36	17
Other Noncurrent Obligations [Member] | Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		192
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		(130)
Derivative Liability		62
Other Noncurrent Obligations [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		90
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		(89)
Derivative Liability		1
Other Noncurrent Obligations [Member] | Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		1
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset		(1)
Derivative Liability		0
Other Noncurrent Obligations [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	1	2
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset	(1)	(2)
Derivative Liability	$ 0	$ 0

Effect of Derivative Instrument

Effect of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (65)	$ (16)	$ (83)	$ (183)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	137	6	469	116
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Hedging Activity	119	(5)	165	(27)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	246	4	581	91
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(184)	(11)	(248)	(156)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	0	0	0
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	0	0	0
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0	(1)	(1)	(3)
Interest Rate Contract [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax			0	0
Interest Rate Contract [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Hedging Activity			0	(25)
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	108	(44)	207	(44)
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Expense and Amortization of Debt Discount
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Hedging Activity	(2)	(2)	(5)	(5)
Excluded Components [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax			0	0
Excluded Components [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Cumulative Translation Adjustments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax			0	2
Excluded Components [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Cumulative Translation Adjustments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	5	3	34	8
Excluded Components [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax	11	3	23	4
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	0	0	0
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(191)	(5)	(276)	(118)
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Hedging Activity	3	(4)	6	(12)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	4	1	6	6
Foreign Exchange Contract [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Hedging Activity	0	0	0	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	49	3	47	13
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	0	0	0
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	7	(5)	29	(35)
Commodity Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	80	41	287	106
Commodity Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Hedging Activity	107	(2)	141	11
Derivative
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 246	$ 4	$ 581	$ 91

Expected Reclassification (Deta

Expected Reclassification (Details) $ in Millions	Jun. 30, 2022 USD ($)
Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ (8)
Commodity Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months	208
Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	10
Excluded Components [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedge Gain (Loss) to be Reclassified During Next 12 Months, Excluded Components, Net	$ 18

FAIR VALUE MEASUREMENTS (Summar

FAIR VALUE MEASUREMENTS (Summary of Recurring Measured Fair Values) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities, FV-NI, Current	$ 12	$ 20
Investment in nonconsolidated affiliates	1,862	2,045
Debt Securities, Available-for-sale	1,741	2,059
Long-term debt including debt due within one year 6	12,726	17,125
Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contractual Obligation	72
US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	615	735
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	1,126	1,324
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	1,594	632
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	169	245
Equity Securities, FV-NI, Current	12	20
Total assets at fair value	4,513	3,762
Long-term debt including debt due within one year 6	12,726	17,125
Total liabilities at fair value	14,287	18,060
Fair Value, Recurring [Member] | Sadara Chemical Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantees, Fair Value Disclosure	210	220
Fair Value, Recurring [Member] | Held-to-maturity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	277	317
Fair Value, Recurring [Member] | Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	702	489
Fair Value, Recurring [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in nonconsolidated affiliates	18	0
Fair Value, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	501	145
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	334	284
Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	375	165
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	400	137
Fair Value, Recurring [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	718	322
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	617	294
Fair Value, Recurring [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	615	735
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	1,126	1,324
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Equity Securities, FV-NI, Current	12	20
Total assets at fair value	63	79
Long-term debt including debt due within one year 6	0	0
Total liabilities at fair value	46	37
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Sadara Chemical Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantees, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Held-to-maturity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in nonconsolidated affiliates	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	19	15
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	46	37
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	32	44
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	169	245
Equity Securities, FV-NI, Current	0	0
Total assets at fair value	4,432	3,683
Long-term debt including debt due within one year 6	12,726	17,125
Total liabilities at fair value	14,031	17,803
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Sadara Chemical Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantees, Fair Value Disclosure	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Held-to-maturity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	277	317
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	702	489
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in nonconsolidated affiliates	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	501	145
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	334	284
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	375	165
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	400	137
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	699	307
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	571	257
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	615	735
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	1,094	1,280
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | Private Market Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	98	106
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	22	22
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | Private Market Securities and Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	77	59
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Equity Securities, FV-NI, Current	0	0
Total assets at fair value	18	0
Long-term debt including debt due within one year 6	0	0
Total liabilities at fair value	210	220
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Sadara Chemical Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantees, Fair Value Disclosure	210	220
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Held-to-maturity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents 1	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in nonconsolidated affiliates	18	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	$ 0	$ 0

Schedule of Consolidated VIEs,

Schedule of Consolidated VIEs, Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Variable Interest Entity [Line Items]
Cash and cash equivalents and end of period	$ 2,367	$ 2,988	$ 3,491
Other current assets	1,460	934
Net property	20,160	20,555
Deferred charges and other assets	1,422	1,456
Total Assets	62,143	62,990
Accrued Liabilities, Current	3,384	3,481
Long-Term Debt	13,065	14,280
Other noncurrent obligations	6,646	6,602
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents and end of period	44	40
Other current assets	35	40
Net property	167	184
Deferred charges and other assets	14	15
Total Assets	260	279
Accrued Liabilities, Current	40	37
Long-Term Debt	1	3
Other noncurrent obligations	11	13
Total Liabilities	$ 52	$ 53

Schedule of Nonconsolidated VIE

Schedule of Nonconsolidated VIEs (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Investment in nonconsolidated affiliates	$ 1,862	$ 2,045
Silicon Inputs Joint Ventures [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investment in nonconsolidated affiliates	$ 116	$ 110

RELATD PARTY TRANSACTIONS (Deta

RELATD PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
The Dow Chemical Company | Dow Inc. [Member]
Cash Dividends Paid to Related Party	$ 1,333	$ 739	$ 2,454	$ 1,442

SEGMENTS AND GEOGRAPHIC REGIO_3

SEGMENTS AND GEOGRAPHIC REGIONS Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 15,664	$ 13,885	$ 30,928	$ 25,767
Equity in earnings of nonconsolidated affiliates	195	278	369	502
Operating EBIT	2,375	2,828	4,794	4,382
Packaging & Specialty Plastics [Member]
Segment Reporting Information [Line Items]
Net sales	8,233	7,121	15,860	13,203
Equity in earnings of nonconsolidated affiliates	138	130	248	236
Operating EBIT	1,436	2,014	2,670	3,242
Industrial Intermediates & Infrastructure [Member]
Segment Reporting Information [Line Items]
Net sales	4,370	4,215	8,894	7,822
Equity in earnings of nonconsolidated affiliates	57	144	119	259
Operating EBIT	426	648	1,087	974
Performance Materials & Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	3,003	2,465	6,052	4,588
Equity in earnings of nonconsolidated affiliates	2	0	5	2
Operating EBIT	561	225	1,156	287
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Net sales	58	84	122	154
Equity in earnings of nonconsolidated affiliates	(2)	4	(3)	5
Operating EBIT	$ (48)	$ (59)	$ (119)	$ (121)

SEGMENTS AND GEOGRAPHIC REGIO_4

SEGMENTS AND GEOGRAPHIC REGIONS EBIT Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting [Abstract]
Net income	$ 1,681	$ 1,932	$ 3,233	$ 2,938
Provision for income taxes	488	524	991	841
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	2,169	2,456	4,224	3,779
Interest Income, Other	36	13	64	21
Interest Expense, Debt	165	187	332	383
Other Nonrecurring (Income) Expense	(77)	(198)	(302)	(241)
Operating EBIT	$ 2,375	$ 2,828	$ 4,794	$ 4,382

SEGMENTS AND GEOGRAPHIC REGIO_5

SEGMENTS AND GEOGRAPHIC REGIONS Significant Items (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Digitalization program costs	$ (51)	$ (48)	$ (92)	$ (81)
Restructuring Charges	(10)	(43)	(20)	(53)
Russia and Ukraine Conflict Asset Related Charges	0		(186)
Gain (Loss) on Extinguishment of Debt	(8)	(102)	(8)	(102)
Charges related to separation, distribution and tax matters agreements	(8)	(5)	4	(5)
Other Nonrecurring (Income) Expense	(77)	(198)	(302)	(241)
Packaging & Specialty Plastics [Member]
Segment Reporting Information [Line Items]
Digitalization program costs	0	0	0	0
Restructuring Charges	0	(8)	0	(8)
Russia and Ukraine Conflict Asset Related Charges	0		(31)
Gain (Loss) on Extinguishment of Debt	0	0	0	0
Charges related to separation, distribution and tax matters agreements	0	0	0	0
Other Nonrecurring (Income) Expense	0	(8)	(31)	(8)
Industrial Intermediates & Infrastructure [Member]
Segment Reporting Information [Line Items]
Digitalization program costs	0	0	0	0
Restructuring Charges	0	(1)	0	(1)
Russia and Ukraine Conflict Asset Related Charges	0		(109)
Gain (Loss) on Extinguishment of Debt	0	0	0	0
Charges related to separation, distribution and tax matters agreements	0	0	0	0
Other Nonrecurring (Income) Expense	0	(1)	(109)	(1)
Performance Materials & Coatings [Member]
Segment Reporting Information [Line Items]
Digitalization program costs	0	0	0	0
Restructuring Charges	0	(10)	0	(10)
Russia and Ukraine Conflict Asset Related Charges	0		(16)
Gain (Loss) on Extinguishment of Debt	0	0	0	0
Charges related to separation, distribution and tax matters agreements	0	0	0	0
Other Nonrecurring (Income) Expense	0	(10)	(16)	(10)
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Digitalization program costs	(51)	(48)	(92)	(81)
Restructuring Charges	(10)	(24)	(20)	(34)
Russia and Ukraine Conflict Asset Related Charges	0		(30)
Gain (Loss) on Extinguishment of Debt	(8)	(102)	(8)	(102)
Charges related to separation, distribution and tax matters agreements	(8)	(5)	4	(5)
Other Nonrecurring (Income) Expense	$ (77)	$ (179)	$ (146)	$ (222)