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VARIABLE INTEREST ENTITIES
 6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
VARIABLE INTEREST ENTITIES VARIABLE INTEREST ENTITIES
A summary of the Company's variable interest entities ("VIEs") can be found in Note 25 to the Consolidated Financial Statements included in the combined Dow Inc. and TDCC Annual Report on Form 10-K for the year ended December 31, 2019.

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 June 30, 2020 and December 31, 2019:

Assets and Liabilities of Consolidated VIEsJun 30,
2020		Dec 31,
2019
In millions
Cash and cash equivalents$41  $37  
Other current assets56  51  
Net property284  330  
Other noncurrent assets17  18  
Total assets 1
$398  $436  
Current liabilities$122  $141  
Long-term debt20  34  
Other noncurrent obligations19  21  
Total liabilities 2
$161  $196  
1. All assets were restricted at June 30, 2020 and December 31, 2019.
2. All liabilities were nonrecourse at June 30, 2020 and December 31, 2019.

Amounts presented in the consolidated balance sheets and the table above as restricted assets or nonrecourse obligations relating to consolidated VIEs at June 30, 2020 and December 31, 2019 are adjusted for intercompany eliminations and parental guarantees.

Nonconsolidated VIEs
The following table summarizes the carrying amounts of assets included in the consolidated balance sheets at June 30, 2020 and December 31, 2019, 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.

Carrying Amounts of Assets Related to Nonconsolidated VIEsJun 30,
2020		Dec 31,
2019
In millionsDescription of asset
Silicon joint ventures
Equity method investments 1
$101  $100  
1. Classified as "Investment in nonconsolidated affiliates" in the consolidated balance sheets.