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TDCC Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Cash and cash equivalents $ 3,816 $ 2,189
Trade (net of allowance for doubtful receivables - 2025: $59; 2024: $95) 4,762 4,756
Other Receivables 1,876 2,108
Inventories 6,595 6,544
Other current assets 1,013 993
Total current assets (variable interest entities restricted - 2025: $228; 2024: $55) 18,062 16,590
Investment in nonconsolidated affiliates 1,264 1,266
Other investments (investments carried at fair value - 2025: $2,212; 2024: $2,047) 3,017 3,033
Noncurrent receivables 309 380
Total investments 4,590 4,679
Property 65,863 62,121
Less: Accumulated depreciation 43,613 40,117
Net property 22,250 22,004
Goodwill 7,978 8,565
Other intangible assets (net of accumulated amortization - 2025: $5,727; 2024: $5,394) 1,486 1,721
Operating lease right-of-use assets 1,356 1,268
Deferred income tax assets 1,511 1,257
Deferred charges and other assets 1,305 1,228
Total other assets (variable interest entities restricted - 2025: $226; 2024: $15) 13,636 14,039
Total Assets 58,538 57,312
Notes payable 90 135
Long-term debt due within one year 222 497
Accounts Payable, Trade 4,151 4,847
Accounts Payable, Other 1,394 1,694
Operating lease liabilities - current 340 318
Income taxes payable 337 276
Accrued and other current liabilities 2,649 2,521
Total current liabilities (variable interest entities restricted - 2025: $438; 2024: $24) 9,183 10,288
Long-Term Debt (variable interest entities restricted - 2025: $190; 2024: $—) 17,849 15,711
Deferred income tax liabilities 364 392
Pension and other postretirement benefits - noncurrent 4,694 4,736
Asbestos-related liabilities - noncurrent 628 713
Operating lease liabilities - noncurrent 1,097 984
Other noncurrent obligations 7,201 6,637
Total other noncurrent liabilities (variable interest entities restricted - 2025: $364; 2024: $13) 13,984 13,462
Common stock (authorized and issued 100 shares of $0.01 par value each) 8 8
Additional paid-in capital 11,112 9,203
Retained earnings 16,781 20,909
Accumulated other comprehensive loss (7,660) (8,110)
Dow Inc.’s stockholders’ equity 16,008 17,355
Noncontrolling interests 1,514 496
Total equity 17,522 17,851
Total Liabilities and Equity $ 58,538 $ 57,312
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock issued (in shares) 790,287,565 784,471,939
Common stock authorized (in shares) 5,000,000,000 5,000,000,000
Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents $ 31 $ 22
Other current assets 253 250
Net property 112 122
Deferred charges and other assets 15 15
Total Assets 411 409
Total current liabilities (variable interest entities restricted - 2025: $438; 2024: $24) 24 24
Other noncurrent obligations 13 13
The Dow Chemical Company    
Cash and cash equivalents 3,816 2,189
Trade (net of allowance for doubtful receivables - 2025: $59; 2024: $95) 4,762 4,756
Other Receivables 1,880 2,116
Inventories 6,595 6,544
Other current assets 974 960
Total current assets (variable interest entities restricted - 2025: $228; 2024: $55) 18,027 16,565
Investment in nonconsolidated affiliates 1,264 1,266
Other investments (investments carried at fair value - 2025: $2,212; 2024: $2,047) 3,017 3,033
Noncurrent receivables 303 374
Total investments 4,584 4,673
Property 65,863 62,121
Less: Accumulated depreciation 43,613 40,117
Net property 22,250 22,004
Goodwill 7,978 8,565
Other intangible assets (net of accumulated amortization - 2025: $5,727; 2024: $5,394) 1,486 1,721
Operating lease right-of-use assets 1,356 1,268
Deferred income tax assets 1,511 1,257
Deferred charges and other assets 1,305 1,228
Total other assets (variable interest entities restricted - 2025: $226; 2024: $15) 13,636 14,039
Total Assets 58,497 57,281
Notes payable 90 135
Long-term debt due within one year 222 497
Accounts Payable, Trade 4,151 4,847
Accounts Payable, Other 1,394 1,732
Operating lease liabilities - current 340 318
Income taxes payable 337 276
Accrued and other current liabilities 2,542 2,405
Total current liabilities (variable interest entities restricted - 2025: $438; 2024: $24) 9,076 10,210
Long-Term Debt (variable interest entities restricted - 2025: $190; 2024: $—) 17,849 15,711
Deferred income tax liabilities 364 392
Pension and other postretirement benefits - noncurrent 4,694 4,736
Asbestos-related liabilities - noncurrent 628 713
Operating lease liabilities - noncurrent 1,097 984
Other noncurrent obligations 7,063 6,503
Total other noncurrent liabilities (variable interest entities restricted - 2025: $364; 2024: $13) 13,846 13,328
Common stock (authorized and issued 100 shares of $0.01 par value each) 0 0
Additional paid-in capital 11,957 9,626
Retained earnings 11,915 16,020
Accumulated other comprehensive loss (7,660) (8,110)
Dow Inc.’s stockholders’ equity 16,212 17,536
Noncontrolling interests 1,514 496
Total equity 17,726 18,032
Total Liabilities and Equity $ 58,497 $ 57,281
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock issued (in shares) 100 100
Common stock authorized (in shares) 100 100