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NONCONSOLIDATED AFFILIATES (Tables)
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Nonconsolidated Affiliates - Investments and Dividends
The Company’s investments in companies accounted for using the equity method (“nonconsolidated affiliates”), by classification in the consolidated balance sheets, and dividends received from nonconsolidated affiliates are shown in the following tables:

Investments in Nonconsolidated Affiliates at Dec 31
2023 1
2022 1
In millions
Investment in nonconsolidated affiliates$1,267 $1,589 
Other noncurrent obligations(229)(144)
Net investment in nonconsolidated affiliates$1,038 $1,445 
1.The carrying amount of the Company’s investments in nonconsolidated affiliates at December 31, 2023 and 2022, was $55 million less than its share of the investees’ net assets, exclusive of additional differences relating to Sadara, EQUATE Petrochemical Company K.S.C.C. ("EQUATE") and AgroFresh Solutions Inc. ("AFSI"), which are discussed separately in the disclosures that follow.

Dividends Received from Nonconsolidated Affiliates202320222021
In millions
Dividends from nonconsolidated affiliates 1
$268 $964 $324 
1.Included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows.
Balances Due To or Due From Nonconsolidated Affiliates
Balances due to or due from nonconsolidated affiliates at December 31, 2023 and 2022, were as follows:

Balances Due To or Due From Nonconsolidated Affiliates at Dec 3120232022
In millions
Accounts and notes receivable - Other$189 $307 
Accounts payable - Other$823 $1,083 
Equity Method Investment The Company's principal nonconsolidated affiliates and its ownership interest (direct and indirect) for each at December 31, 2023, 2022 and 2021, are as follows:
Principal Nonconsolidated Affiliates at Dec 31CountryOwnership Interest
 202320222021
EQUATE Petrochemical Company K.S.C.C. Kuwait42.50 %42.50 %42.50 %
The Kuwait Olefins Company K.S.C.C. Kuwait42.50 %42.50 %42.50 %
The Kuwait Styrene Company K.S.C.C.Kuwait42.50 %42.50 %42.50 %
Map Ta Phut Olefins Company Limited 1
Thailand32.77 %32.77 %32.77 %
Sadara Chemical CompanySaudi Arabia35.00 %35.00 %35.00 %
The SCGC-Dow Group:
Siam Polyethylene Company LimitedThailand50.00 %50.00 %50.00 %
Siam Polystyrene Company LimitedThailand50.00 %50.00 %50.00 %
Siam Styrene Monomer Company LimitedThailand50.00 %50.00 %50.00 %
Siam Synthetic Latex Company LimitedThailand50.00 %50.00 %50.00 %
1.The Company's effective ownership of Map Ta Phut Olefins Company Limited ("Map Ta Phut") is 32.77 percent, of which the Company directly owns 20.27 percent and indirectly owns 12.50 percent through its equity interest in Siam Polyethylene Company Limited.

The Company’s investment in and equity earnings from its principal nonconsolidated affiliates are as follows:

Investment in Principal Nonconsolidated Affiliates at Dec 3120232022
In millions
Investment in principal nonconsolidated affiliates $754 $1,116 
Other noncurrent obligations(229)(144)
Net investment in principal nonconsolidated affiliates$525 $972 

Equity in Earnings (Losses) of Principal Nonconsolidated Affiliates202320222021
In millions
Equity in earnings (losses) of principal nonconsolidated affiliates$(192)$192 $918 
Equity Method Investment Summarized Balance Sheet Information
The summarized financial information that follows represents the combined accounts (at 100 percent) of the principal nonconsolidated affiliates.

Summarized Balance Sheet Information at Dec 3120232022
In millions
Current assets$4,904 $6,241 
Noncurrent assets21,832 22,526 
Total assets$26,736 $28,767 
Current liabilities$3,490 $3,754 
Noncurrent liabilities18,794 18,999 
Total liabilities$22,284 $22,753 
Noncontrolling interests$157 $223 
Equity Method Investment Summarized Income Statement Information
Summarized Income Statement Information 1
202320222021
In millions
Sales$11,102 $14,026 $14,969 
Gross profit$289 $1,246 $3,219 
Income (loss), net of tax$(1,053)$(91)$2,013 
1.The results in this table include purchase and sale activity between certain principal nonconsolidated affiliates and the Company, as previously discussed in the "Transactions with Nonconsolidated Affiliates" section.