NONCONSOLIDATED AFFILIATES (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Nonconsolidated Affiliates - Investments and Dividends

The Company’s investments in companies accounted for using the equity method (“nonconsolidated affiliates”) and dividends received from nonconsolidated affiliates are shown in the following tables:

Investments in Nonconsolidated Affiliates at Dec 31	2019 1			2018 1
In millions
Investment in nonconsolidated affiliates	$	1,404		$	3,320
Other noncurrent obligations	(80		)	—
Net investment in nonconsolidated affiliates	$	1,324		$	3,320

1. The carrying amount of the Company’s investments in nonconsolidated affiliates at December 31, 2019, was $51 million less than its share of the investees’ net assets, ($39 million less at December 31, 2018), exclusive of additional differences relating to EQUATE Petrochemical Company K.S.C.C. ("EQUATE"), Sadara and AgroFresh Solutions Inc. ("AFSI"), which are discussed separately in the disclosures that follow.

Dividends Received from Nonconsolidated Affiliates	2019		2018		2017 1
In millions
Dividends from nonconsolidated affiliates	$	1,020	$	663	$	654

1. Includes a non-cash dividend of $7 million.

Balances Due To or Due From Nonconsolidated Affiliates

Balances due to or due from nonconsolidated affiliates at December 31, 2019 and 2018 were as follows:

Balances Due To or Due From Nonconsolidated Affiliates at Dec 31	2019		2018
In millions
Accounts and notes receivable - Other	$	211	$	556
Noncurrent receivables	—		8
Total assets	$	211	$	564
Accounts payable - Other	$	1,092	$	1,347

The following table presents amounts due to or due from Historical DuPont and its affiliates at December 31, 2018:

Balances Due To or Due From Historical DuPont and its Affiliates	Dec 31, 2018
In millions
Accounts and notes receivable - Other	$	89
Accounts payable - Other	$	19

The following table presents revenue earned and expenses incurred related to transactions with Historical DuPont and its affiliates, prior to the separation from DowDuPont:

Sales to Historical DuPont and its Affiliates	2019		2018
In millions
Net sales	$	12	$	55
Cost of sales	$	9	$	42

Equity Method Investment

The Company's principal nonconsolidated affiliates and its ownership interest (direct and indirect) for each at December 31, 2019, 2018 and 2017 are as follows:

Principal Nonconsolidated Affiliates at Dec 31	Country	Ownership Interest
		2019		2018		2017
EQUATE Petrochemical Company K.S.C.C.	Kuwait	42.5	%	42.5	%	42.5	%
The Kuwait Olefins Company K.S.C.C.	Kuwait	42.5	%	42.5	%	42.5	%
The Kuwait Styrene Company K.S.C.C.	Kuwait	42.5	%	42.5	%	42.5	%
Map Ta Phut Olefins Company Limited 1	Thailand	32.77	%	32.77	%	32.77	%
Sadara Chemical Company	Saudi Arabia	35	%	35	%	35	%
The SCG-Dow Group:
Siam Polyethylene Company Limited	Thailand	50	%	50	%	50	%
Siam Polystyrene Company Limited	Thailand	50	%	50	%	50	%
Siam Styrene Monomer Company Limited	Thailand	50	%	50	%	50	%
Siam Synthetic Latex Company Limited	Thailand	50	%	50	%	50	%

1. The Company's effective ownership of Map Ta Phut Olefins Company Limited ("Map Ta Phut") is 32.77 percent, of which the Company directly owns 20.27 percent and indirectly owns 12.5 percent through its equity interest in Siam Polyethylene Company Limited.

The Company’s investment in and equity earnings from its principal nonconsolidated affiliates are shown in the tables below:

Investment in Principal Nonconsolidated Affiliates at Dec 31	2019			2018
In millions
Investment in nonconsolidated affiliates	$	963		$	2,876
Other noncurrent obligations	(80		)	—
Net investment in principal nonconsolidated affiliates	$	883		$	2,876

Equity Earnings from Principal Nonconsolidated Affiliates	2019		2018		2017
In millions
Equity in earnings of principal nonconsolidated affiliates	$	21	$	561	$	347

Equity Method Investment Summarized Balance Sheet Information

The summarized financial information that follows represents the combined accounts (at 100 percent) of the principal nonconsolidated affiliates.

Summarized Balance Sheet Information at Dec 31	2019		2018
In millions
Current assets	$	5,302	$	7,553
Noncurrent assets	26,477		25,971
Total assets	$	31,779	$	33,524
Current liabilities	$	3,743	$	5,163
Noncurrent liabilities	20,271		19,089
Total liabilities	$	24,014	$	24,252
Noncontrolling interests	$	110	$	72

Equity Method Investment Summarized Income Statement Information

Summarized Income Statement Information 1	2019			2018		2017
In millions
Sales	$	10,905		$	14,461	$	11,629
Gross profit	$	644		$	2,320	$	1,992
Income (loss) from continuing operations, net of tax	$	(277	)	$	1,173	$	689

1.

The results in this table reflect purchase and sale activity between certain principal nonconsolidated affiliates and the Company, as previously discussed in the "Transactions with Nonconsolidated Affiliates" section.