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OPERATING SEGMENTS AND GEOGRAPHIC AREAS
3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
OPERATING SEGMENTS AND GEOGRAPHIC AREAS
OPERATING SEGMENTS AND GEOGRAPHIC AREAS
Beginning in the fourth quarter of 2014, the Company changed its reportable segments as a result of changes in the Company's organization, including leadership appointments. The reporting changes are retrospectively reflected in the segment results for the three-month period ended March 31, 2014.

Operating Segment Information
Three Months Ended
In millions
Mar 31,
2015

 
Mar 31,
2014

Sales by operating segment
 
 
 
Agricultural Sciences
$
1,864

 
$
2,119

Consumer Solutions
1,123

 
1,137

Infrastructure Solutions
1,828

 
2,035

Performance Materials & Chemicals
3,209

 
3,550

Performance Plastics
4,269

 
5,522

Corporate
77

 
98

Total
$
12,370

 
$
14,461

EBITDA (1) by operating segment
 
 
 
Agricultural Sciences
$
409

 
$
506

Consumer Solutions
286

 
259

Infrastructure Solutions
295

 
268

Performance Materials & Chemicals
1,223

 
514

Performance Plastics
985

 
966

Corporate
(135
)
 
(117
)
Total
$
3,063

 
$
2,396

Equity in earnings (losses) of nonconsolidated affiliates by operating segment (included in EBITDA)
Agricultural Sciences
$

 
$

Consumer Solutions
20

 
30

Infrastructure Solutions
76

 
71

Performance Materials & Chemicals
55

 
91

Performance Plastics
23

 
68

Corporate
(6
)
 
(9
)
Total
$
168

 
$
251


(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,
2015

 
Mar 31,
2014

EBITDA
$
3,063

 
$
2,396

- Depreciation and amortization
634

 
672

+ Interest income
17

 
13

- Interest expense and amortization of debt discount
241

 
246

Income Before Income Taxes
$
2,205

 
$
1,491


 
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 2015 and 2014 were immaterial and eliminated in consolidation.
Geographic Areas
Three Months Ended
In millions
Mar 31,
2015

 
Mar 31,
2014

Sales by geographic area
 
 
 
United States
$
4,327

 
$
4,791

Europe, Middle East, Africa and India
3,974

 
5,215

Rest of World
4,069

 
4,455

Total
$
12,370

 
$
14,461