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FAIR VALUE MEASUREMENTS
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block] FAIR VALUE MEASUREMENTS
A summary of the Company's recurring and nonrecurring fair value measurements can be found in Note 24 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.

Fair Value Measurements on a Recurring Basis
The following table summarizes the bases used to measure certain assets and liabilities at fair value on a recurring basis:

Basis of Fair Value Measurements on a Recurring BasisJun 30, 2020Dec 31, 2019
Quoted Prices in Active Markets for Identical Items
(Level 1)
Significant Other Observable Inputs
(Level 2)
TotalQuoted Prices in Active Markets for Identical Items
(Level 1)
Significant Other Observable Inputs
(Level 2)
Total
In millions
Assets at fair value
Cash equivalents
Held-to-maturity securities 1
$—  $297  $297  $—  $220  $220  
Money market funds—  519  519  —  408  408  
Marketable securities
—    —  21  21  
Equity securities 2
 —   15  —  15  
Debt securities: 2
Government debt 3
—  515  515  —  555  555  
Corporate bonds22  912  934  22  992  1,014  
Derivatives relating to: 4
Interest rates—  320  320  —  35  35  
Foreign currency—  127  127  —  149  149  
Commodities16  194  210  23  67  90  
Total assets at fair value$46  $2,886  $2,932  $60  $2,447  $2,507  
Liabilities at fair value   
Long-term debt including debt due within one year 5
$—  $19,117  $19,117  $—  $18,661  $18,661  
Derivatives relating to: 4
Interest rates—  453  453  —  310  310  
Foreign currency—  110  110  —  69  69  
Commodities13  299  312  14  137  151  
Total liabilities at fair value$13  $19,979  $19,992  $14  $19,177  $19,191  
1. The Company's held-to-maturity securities primarily included treasury bills and time deposits.
2. The Company’s investments in debt securities, which are primarily available-for-sale, and equity securities are included in “Other investments” in the consolidated balance sheets.
3. U.S. Treasury obligations, U.S. agency obligations, U.S. agency mortgage-backed securities and other municipalities’ obligations.
4. See Note 18 for the classification of derivatives in the consolidated balance sheets.
5. See Note 18 for information on fair value measurements of long-term debt.
For equity securities calculated at net asset value per share (or its equivalent), the Company had $106 million in private market securities and $21 million in real estate at June 30, 2020 ($117 million in private market securities and $18 million in real estate at December 31, 2019). There are no redemption restrictions and the unfunded commitments on these investments were $66 million at June 30, 2020 ($76 million at December 31, 2019).

Fair Value Measurements on a Nonrecurring Basis
In the first six months of 2020, the Company recognized an additional pretax impairment charge of $12 million related to capital additions made to the biopolymers manufacturing facility in Santa Vitoria, Minas Gerais, Brazil, which was impaired in 2017. The assets were written down to zero in 2020. The impairment charge was included in “Restructuring and asset related charges - net” in the consolidated statements of income and related to Packaging & Specialty Plastics. See Note 5 for additional information.