OPERATING SEGMENTS AND GEOGRAPHIC AREAS

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

OPERATING SEGMENTS AND GEOGRAPHIC AREAS

OPERATING SEGMENTS AND GEOGRAPHIC AREAS

Operating Segment Information	Three Months Ended						Six Months Ended
In millions	Jun 30, 2014			Jun 30, 2013			Jun 30, 2014			Jun 30, 2013
Sales by operating segment
Electronic and Functional Materials	$	1,205		$	1,152		$	2,338		$	2,293
Coatings and Infrastructure Solutions	1,951			1,888			3,700			3,555
Agricultural Sciences	1,907			1,850			4,026			3,953
Performance Materials	3,440			3,389			6,731			6,717
Performance Plastics	3,746			3,676			7,359			7,174
Feedstocks and Energy	2,595			2,543			5,053			5,099
Corporate	73			79			171			169
Total	$	14,917		$	14,577		$	29,378		$	28,960
EBITDA (1) by operating segment
Electronic and Functional Materials	$	303		$	254		$	593		$	527
Coatings and Infrastructure Solutions	257			250			481			436
Agricultural Sciences	281			290			810			774
Performance Materials	386			284			826			724
Performance Plastics	1,067			1,010			2,067			1,962
Feedstocks and Energy	190			193			363			433
Corporate	(260		)	1,885			(520		)	1,530
Total	$	2,224		$	4,166		$	4,620		$	6,386
Equity in earnings (losses) of nonconsolidated affiliates by operating segment (included in EBITDA)
Electronic and Functional Materials	$	22		$	28		$	53		$	45
Coatings and Infrastructure Solutions	43			25			114			51
Agricultural Sciences	2			1			2			3
Performance Materials	(30		)	(12		)	(54		)	(35		)
Performance Plastics	71			88			132			145
Feedstocks and Energy	125			105			246			264
Corporate	(6		)	(7		)	(15		)	(15		)
Total	$	227		$	228		$	478		$	458

(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				Six Months Ended
In millions	Jun 30, 2014		Jun 30, 2013		Jun 30, 2014		Jun 30, 2013
EBITDA	$	2,224	$	4,166	$	4,620	$	6,386
- Depreciation and amortization	677		659		1,349		1,327
+ Interest income	9		10		22		18
- Interest expense and amortization of debt discount	242		279		488		575
Income Before Income Taxes	$	1,314	$	3,238	$	2,805	$	4,502

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 six months of 2014 and 2013 were immaterial and eliminated in consolidation.

Geographic Areas	Three Months Ended				Six Months Ended
In millions	Jun 30, 2014		Jun 30, 2013		Jun 30, 2014		Jun 30, 2013
Sales by geographic area
United States	$	5,041	$	4,804	$	9,832	$	9,618
Europe, Middle East and Africa	4,868		4,571		9,837		9,486
Rest of World	5,008		5,202		9,709		9,856
Total	$	14,917	$	14,577	$	29,378	$	28,960