VARIABLE INTEREST ENTITIES

A summary of the Company's variable interest entities ("VIEs") can be found in Note 23 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.

Assets and Liabilities of Consolidated VIEs

The Company's consolidated financial statements include the assets, liabilities and results of operations of VIEs for which the Company is the primary beneficiary. The other equity holders’ interests are reflected in “Net income attributable to noncontrolling interests” in the consolidated statements of income and "Noncontrolling interests" in the consolidated balance sheets.

The following table summarizes the carrying amounts of these entities' assets and liabilities included in the Company’s consolidated balance sheets at March 31, 2018 and December 31, 2017:



Assets and Liabilities of Consolidated VIEs	Mar 31, 2018		Dec 31, 2017
In millions	Mar 31, 2018		Dec 31, 2017
Cash and cash equivalents	$	140	$	107
Other current assets	129		131
Net property	869		907
Other noncurrent assets	51		50
Total assets ¹	$	1,189	$	1,195
Current liabilities	$	296	$	303
Long-term debt	225		249
Other noncurrent obligations	39		41
Total liabilities ²	$	560	$	593


1.	All assets were restricted at March 31, 2018 and December 31, 2017.


2.	All liabilities were nonrecourse at March 31, 2018 and December 31, 2017.

In addition, the carrying amounts of assets and liabilities included in the Company’s consolidated balance sheets pertaining to an entity created to monetize accounts receivable of select European entities were current assets of $9 million (zero restricted) at March 31, 2018 ($671 million, zero restricted, at December 31, 2017), and current liabilities of less than $1 million (zero nonrecourse) at March 31, 2018 (less than $1 million, zero nonrecourse, at December 31, 2017).

Amounts presented in the consolidated balance sheets and the table above as restricted assets or nonrecourse obligations relating to consolidated VIEs at March 31, 2018 and December 31, 2017, are adjusted for intercompany eliminations and parental guarantees.

Nonconsolidated VIEs

The following table summarizes the carrying amounts of assets and liabilities included in the consolidated balance sheets at March 31, 2018 and December 31, 2017, related to variable interests in joint ventures or entities for which the Company is not the primary beneficiary. The Company's maximum exposure to loss is the same as the carrying amounts, unless otherwise noted below.



Carrying Amounts of Assets and Liabilities Related to Nonconsolidated VIEs		Mar 31, 2018			Dec 31, 2017
In millions	Description of asset or liability	Mar 31, 2018			Dec 31, 2017
Hemlock Semiconductor L.L.C.	Equity method investment ¹	$	(735	)	$	(752	)
Silicon joint ventures	Equity method investments ²	$	102		$	103
AgroFresh Solutions, Inc	Equity method investment ²	$	47		$	51
AgroFresh Solutions, Inc	Other receivable ³	$	—		$	4


1.	Classified as "Other noncurrent obligations" in the consolidated balance sheets. The Company's maximum exposure to loss was zero at March 31, 2018 (zero at December 31, 2017).


2.	Classified as "Investment in nonconsolidated affiliates" in the consolidated balance sheets.


3.	Classified as "Accounts and notes receivable - Other" in the consolidated balance sheets.