Accumulated Other Comprehensive Loss (Notes)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

STOCKHOLDERS' EQUITY

Treasury Stock

Dow Inc.

On April 1, 2019, Dow Inc.'s Board ratified the share repurchase program originally approved on March 15, 2019, authorizing up to $3 billion to be spent on the repurchase of the Company's common stock, with no expiration date. The Company repurchased $600 million of its common stock in the first quarter of 2022. At March 31, 2022, approximately $775 million of the share repurchase program authorization remained available for repurchases.

The Company began issuing treasury shares to satisfy its obligation to make matching contributions to plan participants under The Dow Employees’ Savings Plan in the first quarter of 2022. The Company may satisfy these obligations using shares of Dow Inc. treasury stock or by issuing new shares of common stock.

Accumulated Other Comprehensive Loss

The changes in each component of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2022 and 2021 were as follows:

Accumulated Other Comprehensive Loss	Three Months Ended
In millions	Mar 31, 2022		Mar 31, 2021
Unrealized Gains (Losses) on Investments
Beginning balance	$	59	$	104
Unrealized gains (losses) on investments	(121)		(54)
Tax (expense) benefit	24		11
Net unrealized gains (losses) on investments	(97)		(43)
(Gains) losses reclassified from AOCL to net income 1	1		(8)
Tax expense (benefit) 2	—		2
Net (gains) losses reclassified from AOCL to net income	1		(6)
Other comprehensive income (loss), net of tax	(96)		(49)
Ending balance	$	(37)	$	55
Cumulative Translation Adjustment
Beginning balance	$	(1,355)	$	(930)
Gains (losses) on foreign currency translation	(165)		(217)
Tax (expense) benefit	13		(36)
Net gains (losses) on foreign currency translation	(152)		(253)
(Gains) losses reclassified from AOCL to net income 3	(12)		—
Other comprehensive income (loss), net of tax	(164)		(253)
Ending balance	$	(1,519)	$	(1,183)
Pension and Other Postretirement Benefits
Beginning balance	$	(7,334)	$	(9,559)
Gains (losses) arising during the period 4	2		1,268
Tax (expense) benefit	—		(298)
Net gains (losses) arising during the period	2		970
Amortization of net loss and prior service credits reclassified from AOCL to net income 5	157		198
Tax expense (benefit) 2	(50)		(34)
Net loss and prior service credits reclassified from AOCL to net income	107		164
Other comprehensive income (loss), net of tax	109		1,134
Ending balance	$	(7,225)	$	(8,425)
Derivative Instruments
Beginning balance	$	(347)	$	(470)
Gains (losses) on derivative instruments	420		122
Tax (expense) benefit	(56)		(9)
Net gains (losses) on derivative instruments	364		113
(Gains) losses reclassified from AOCL to net income 6	(34)		(3)
Tax expense (benefit) 2	2		—
Net (gains) losses reclassified from AOCL to net income	(32)		(3)
Other comprehensive income (loss), net of tax	332		110
Ending balance	$	(15)	$	(360)
Total AOCL ending balance	$	(8,796)	$	(9,913)

1.Reclassified to "Net sales" and "Sundry income (expense) - net."

2.Reclassified to "Provision for income taxes."

3.Reclassified to "Sundry income (expense) - net."

4.The 2021 impact relates to an interim remeasurement of U.S. pension plans due to the announced freeze of plan benefits in the first quarter of 2021.

5.These AOCL components are included in the computation of net periodic benefit cost of the Company's defined benefit pension and other postretirement benefit plans. See Note 16 for additional information.

6.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."