COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Environmental Loss Contingency

The following table summarizes the activity in the Company's accrued obligations for environmental matters for the years ended December 31, 2021 and 2020:

Accrued Obligations for Environmental Matters	2021		2020
In millions
Balance at Jan 1	$	1,244	$	1,155
Accrual adjustment	159		285
Payments against reserve	(162)		(198)
Foreign currency impact	(21)		2
Balance at Dec 31	$	1,220	$	1,244

Schedule of Guarantor Obligations

The following table provides a summary of the final expiration, maximum future payments and recorded liability reflected in the consolidated balance sheets for guarantees:

Guarantees	Dec 31, 2021					Dec 31, 2020
In millions	Final Expiration	Maximum Future Payments 1		Recorded Liability		Final Expiration	Maximum Future Payments		Recorded Liability
Guarantees	2038	$	1,273	$	220	2023	$	251	$	2

1.In addition, TDCC has provided guarantees, in proportion to the Company's 35 percent ownership interest, of all future interest payments that will become due on Sadara’s project financing debt during the grace period, which Dow's share is estimated to be $446 million at December 31, 2021. Based on Sadara's current forecasted cash flows, the Company does not expect to be required to perform under the guarantees.

Schedule of Change in Asset Retirement Obligation

The following table shows changes in the aggregate carrying amount of the Company’s asset retirement obligations for the years ended December 31, 2021 and 2020:

Asset Retirement Obligations	2021		2020
In millions
Balance at Jan 1	$	112	$	104
Additional accruals	13		6
Liabilities settled	(7)		(3)
Accretion expense	1		3
Revisions in estimated cash flows	(1)		7
Other	—		(5)
Balance at Dec 31	$	118	$	112