RELATD PARTY TRANSACTIONS (Notes)

3 Months Ended

Mar. 31, 2020

RELATED PARTY TRANSACTIONS

Effective with the separation from DowDuPont on April 1, 2019, TDCC became a wholly owned subsidiary of Dow Inc. and reported transactions with Dow Inc. as related party transactions. From the Merger date through March 31, 2019, TDCC reported transactions with DowDuPont and Historical DuPont and its affiliates as related party transactions.

TDCC

TDCC has committed to fund Dow Inc.'s dividends paid to common stockholders and share repurchases, as approved by Dow Inc.'s Board of Directors from time to time, as well as certain governance expenses. Funding is accomplished through intercompany loans. TDCC's Board reviews and determines a dividend distribution to Dow Inc. to settle the intercompany loans. In the first quarter of 2020, TDCC declared and paid a dividend of $643 million to Dow Inc. (zero in the first quarter of 2019). TDCC's outstanding intercompany loan balance with Dow Inc. was insignificant at March 31, 2020 and December 31, 2019.

DowDuPont

Pursuant to the Merger Agreement, TDCC committed to fund a portion of DowDuPont's dividends paid to common stockholders and certain governance expenses. In addition, share repurchases by DowDuPont were partially funded by TDCC through 2018. For the three months ended March 31, 2019, TDCC declared and paid dividends to DowDuPont of $535 million.

Historical DuPont and its affiliates

Prior to the separation from DowDuPont, TDCC sold to and procured from Historical DuPont and its affiliates certain raw materials that were consumed in each company's manufacturing process. The following table presents revenue earned and expenses incurred related to transactions with Historical DuPont and its affiliates:


Sales to Historical DuPont and its Affiliates	Three months ended
In millions	Mar 31, 2019
Net sales	$	12
Cost of sales	$	9

Purchases from Historical DuPont and its affiliates were insignificant for the three months ended March 31, 2019.