COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021:

Accrued Obligations for Environmental Matters	2022		2021
In millions
Balance at Jan 1	$	1,220	$	1,244
Accrual adjustment	184		159
Payments against reserve	(204)		(162)
Foreign currency impact	(8)		(21)
Balance at Dec 31	$	1,192	$	1,220

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, 2022					Dec 31, 2021
In millions	Final Expiration	Maximum Future Payments 1		Recorded Liability		Final Expiration	Maximum Future Payments		Recorded Liability
Guarantees	2038	$	1,236	$	200	2038	$	1,273	$	220

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 $393 million at December 31, 2022 ($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, 2022 and 2021:

Asset Retirement Obligations	2022		2021
In millions
Balance at Jan 1	$	118	$	112
Additional accruals	14		13
Liabilities settled	(8)		(7)
Accretion expense	2		1
Revisions in estimated cash flows	(9)		(1)
Other	2		—
Balance at Dec 31	$	119	$	118