NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of notes payable

Notes Payable at Dec 31
In millions	2019			2018
Commercial paper	$	151		$	10
Notes payable to banks and other lenders	435			288
Total notes payable	$	586		$	298
Year-end average interest rates	6.30		%	8.28		%

Schedule of long-term debt

Long-Term Debt at Dec 31	2019 Average Rate		2019			2018 Average Rate		2018
In millions
Promissory notes and debentures:
Final maturity 2019	—	%	$	—		9.80	%	$	7
Final maturity 2020	8.44	%	76			4.46	%	1,547
Final maturity 2021	8.95	%	174			4.71	%	1,424
Final maturity 2022	3.50	%	1,372			3.50	%	1,373
Final maturity 2023	7.64	%	325			7.64	%	325
Final maturity 2024	3.37	%	1,397			3.50	%	896
Final maturity 2025 and thereafter	5.70	%	9,482			5.98	%	7,963
Other facilities:
U.S. dollar loans, various rates and maturities	2.55	%	2,000			3.59	%	4,533
Foreign currency loans, various rates and maturities	3.26	%	592			3.20	%	708
InterNotes®, varying maturities through 2049	3.44	%	928			3.26	%	778
Finance lease obligations 1			395					371
Unamortized debt discount and issuance costs			(331		)			(334		)
Long-term debt due within one year 2			(435		)			(338		)
Long-term debt			$	15,975				$	19,253

1. See Note 18 for additional information.

2.

Presented net of current portion of unamortized debt issuance costs.

Schedule of maturities of long-term debt

Maturities of Long-Term Debt for Next Five Years at Dec 31, 2019
In millions
2020	$	435
2021	$	511
2022	$	1,513
2023 1	$	2,508
2024	$	1,528

1.

Assumes the option to extend maturity to 2023 will be exercised for the $2 billion Dow Silicones Term Loan Facility.

Schedule of committed and available credit facilities

The following table summarizes the Company's credit facilities:

Committed and Available Credit Facilities at Dec 31, 2019
In millions	Committed Credit		Credit Available		Maturity Date	Interest
Five Year Competitive Advance and Revolving Credit Facility	$	5,000	$	5,000	October 2024	Floating rate
Term Loan Facility 1	2,000		—		September 2023	Floating rate
European Securitization Facility 2	448		448		October 2020	Floating rate
Bilateral Revolving Credit Facility	100		100		March 2020	Floating rate
Bilateral Revolving Credit Facility	100		100		March 2020	Floating rate
Bilateral Revolving Credit Facility	280		280		March 2020	Floating rate
Bilateral Revolving Credit Facility	200		200		May 2020	Floating rate
Bilateral Revolving Credit Facility	200		200		July 2020	Floating rate
Bilateral Revolving Credit Facility	100		100		August 2020	Floating rate
Bilateral Revolving Credit Facility	300		300		December 2020	Floating rate
Bilateral Revolving Credit Facility	300		300		December 2021	Floating rate
Bilateral Revolving Credit Facility	100		100		October 2024	Floating rate
Bilateral Revolving Credit Facility	100		100		October 2024	Floating rate
Bilateral Revolving Credit Facility	200		200		November 2024	Floating rate
Total Committed and Available Credit Facilities	$	9,428	$	7,428

1. Assumes the option to extend the Term Loan Facility will be exercised.

2.

Equivalent to Euro 400 million.