OPERATING SEGMENTS AND GEOGRAPHIC AREAS

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

OPERATING SEGMENTS AND GEOGRAPHIC AREAS

OPERATING SEGMENTS AND GEOGRAPHIC AREAS

Operating Segment Information	Three Months Ended
In millions	Mar 31, 2014			Mar 31, 2013
Sales by operating segment
Electronic and Functional Materials	$	1,133		$	1,141
Coatings and Infrastructure Solutions	1,749			1,667
Agricultural Sciences	2,119			2,103
Performance Materials	3,291			3,328
Performance Plastics	3,613			3,498
Feedstocks and Energy	2,458			2,556
Corporate	98			90
Total	$	14,461		$	14,383
EBITDA (1) by operating segment
Electronic and Functional Materials	$	290		$	273
Coatings and Infrastructure Solutions	224			186
Agricultural Sciences	529			484
Performance Materials	440			440
Performance Plastics	1,000			952
Feedstocks and Energy	173			240
Corporate	(260		)	(355		)
Total	$	2,396		$	2,220
Equity in earnings (losses) of nonconsolidated affiliates by operating segment (included in EBITDA)
Electronic and Functional Materials	$	31		$	17
Coatings and Infrastructure Solutions	71			26
Agricultural Sciences	—			2
Performance Materials	(24		)	(23		)
Performance Plastics	61			57
Feedstocks and Energy	121			159
Corporate	(9		)	(8		)
Total	$	251		$	230

(1) The Company uses EBITDA (which Dow defines as earnings (i.e., "Net Income") before interest, income taxes, depreciation and amortization) as its measure of profit/loss for segment reporting purposes. EBITDA by operating segment includes all operating items relating to the businesses; items that principally apply to the Company as a whole are assigned to Corporate. A reconciliation of EBITDA to "Income Before Income Taxes" is provided below.

Reconciliation of EBITDA to “Income Before Income Taxes”	Three Months Ended
In millions	Mar 31, 2014		Mar 31, 2013
EBITDA	$	2,396	$	2,220
- Depreciation and amortization	672		668
+ Interest income	13		8
- Interest expense and amortization of debt discount	246		296
Income Before Income Taxes	$	1,491	$	1,264

Transfers of products between operating segments are generally valued at cost. However, transfers of products to Agricultural Sciences from other segments are generally valued at market-based prices; the revenues generated by these transfers in the first three months of 2014 and 2013 were immaterial and eliminated in consolidation.

Geographic Areas	Three Months Ended
In millions	Mar 31, 2014		Mar 31, 2013
Sales by geographic area
United States	$	4,791	$	4,814
Europe, Middle East and Africa	4,969		4,915
Rest of World	4,701		4,654
Total	$	14,461	$	14,383