RELATD PARTY TRANSACTIONS (Notes)

6 Months Ended

Jun. 30, 2020

RELATED PARTY TRANSACTIONS

Effective with the separation from DowDuPont on April 1, 2019, TDCC became a wholly owned subsidiary of Dow Inc. and reports 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 of Directors reviews and determines a dividend distribution to Dow Inc. to settle the intercompany loans. For the three and six months ended June 30, 2020, TDCC declared and paid dividends to Dow Inc. of $529 million and $1,172 million, respectively. For the three and six months ended June 30, 2019, TDCC did not pay dividends to Dow Inc. At June 30, 2020 and December 31, 2019, TDCC's outstanding intercompany loan balance with Dow Inc. was insignificant.

DowDuPont

Pursuant to the Merger Agreement and prior to the separation from DowDuPont, TDCC had 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 six months ended June 30, 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	Six Months Ended
In millions	Jun 30, 2019
Net sales	$	12
Cost of sales	$	9

Purchases from Historical DuPont and its affiliates were insignificant for the six months ended June 30, 2019.