Consolidated Balance Sheets (Unaudited) (USD $) In Millions	9 Months Ended	12 Months Ended
Sep. 30, 2011	Dec. 31, 2010
Current Assets:
Cash and cash equivalents	$ 5,609	$ 4,222
Restricted cash	292	11
Accounts receivable:
Trade, net	3,786	3,482
Related parties	252	265
Inventories	5,682	4,824
Prepaid expenses and other current assets	1,097	975
Total current assets	16,718	13,779
Property, plant and equipment, net	7,363	7,190
Investments and long-term receivables:
Investment in PO joint ventures	422	437
Equity investments	1,594	1,587
Related party receivables	4	14
Other investments and long-term receivables	67	67
Goodwill	598	595
Intangible assets, net	1,237	1,360
Other assets	264	273
Total assets	28,267	25,302
Current liabilities:
Current maturities of long-term debt	2	4
Short-term debt	49	42
Accounts payable:
Trade	2,440	1,968
Related parties	867	793
Accrued liabilities	1,505	1,705
Deferred income taxes	315	319
Total current liabilities	5,178	4,831
Long-term debt	5,782	6,036
Other liabilities	2,021	2,183
Deferred income taxes	1,204	656
Commitment and contingencies
Stockholders' equity:
Ordinary shares, EUR 0.04 par value, 1,275 million shares authorized, 573,257,117 and 565,676,222 shares issued, respectively	31	30
Additional paid-in capital	10,265	9,837
Retained earnings	3,778	1,587
Accumulated other comprehensive income	79	81
Treasury stock, at cost, 4,184,410 and 1,122,651 ordinary shares, respectively	(128)	0
Total Company share of stockholders' equity	14,025	11,535
Non-controlling interests	57	61
Total equity	14,082	11,596
Total liabilities and equity	$ 28,267	$ 25,302

We together with Bayer AG and Bayer Corporation (collectively Bayer) share ownership in a U.S. propylene oxide (PO) manufacturing joint venture (the U.S. PO Joint Venture) and a separate joint venture for certain related PO technology. Bayers ownership interest represents ownership of annual in-kind PO production of the U.S. PO Joint Venture of 1.5 billion pounds in 2010 and 2009. We take in kind the remaining PO production and all co-product (styrene monomer (SM or styrene) and tertiary butyl ether (TBA) production from the U.S. PO Joint Venture. In addition we and Bayer each have a 50pct interest in a separate manufacturing joint venture (the European PO Joint Venture) which includes a world-scale POSM plant at Maasvlakte near Rotterdam The Netherlands. We and Bayer each are entitled to 50pct of the PO and SM production at the European PO Joint Venture. We and Bayer do not share marketing or product sales under the U.S. PO Joint Venture. We operate the U.S. PO Joint Ventures and the European PO Joint Ventures (collectively the PO joint ventures) plants and arrange and coordinate the logistics of product delivery. The partners share in the cost of production and logistics based on their product offtake. We report the cost of our product offtake as inventory and cost of sales in our consolidated financial statements. Related cash flows are reported in the operating cash flow section of the consolidated statements of cash flows. Our investment in the PO joint ventures is reduced through recognition of our share of the depreciation and amortization of the assets of the PO joint ventures which is included in cost of sales. Other changes in the investment balance are principally due to additional capital investments in the PO joint ventures by us. Our contributions to the PO joint ventures are reported as Contributions and advances to affiliates in the Consolidated Statements of Cash Flows.

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