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SEGMENTS AND GEOGRAPHIC REGIONS (Notes)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments and Geographic Regions [Text Block] SEGMENTS AND GEOGRAPHIC REGIONS
Sales to external customers, which are attributed to geographic regions based on customer location, were as follows:

Sales to External Customers by Geographic RegionThree Months EndedSix Months Ended
In millionsJun 30, 2025Jun 30, 2024Jun 30, 2025Jun 30, 2024
United States$3,725 $3,909 $7,671 $7,738 
EMEAI3,272 3,572 6,546 7,056 
Rest of World3,107 3,434 6,318 6,886 
Total$10,104 $10,915 $20,535 $21,680 

Long-lived assets, which are attributed to geographic regions based on asset location, were as follows:

Long-Lived Assets by Geographic RegionJun 30, 2025Dec 31, 2024
In millions
United States$15,050 $15,216 
EMEAI2,785 2,726 
Rest of World4,641 4,062 
Total$22,476 $22,004 

Dow’s measure of profit/loss for segment reporting purposes is Operating EBIT as this is the manner in which the chief executive officer, chief operating officer, chief financial officer, general counsel and corporate secretary, and senior vice president of corporate development, together the "executive committee" and CODM, assesses performance and allocates resources. The CODM compares quarterly results to both the year-ago and sequential periods to assess performance and allocate resources to each segment. The Company defines Operating EBIT as earnings (i.e., "Income (loss) before income taxes") before interest, excluding the impact of significant items. Operating EBIT by segment includes all operating items relating to the businesses; items that principally apply to Dow as a whole are assigned to Corporate.
Segment Operating EBIT 1
Pack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment Total
In millions
Three months ended Jun 30, 2025
Net sales$5,025 $2,786 $2,129 $9,940 
Cost of sales4,728 2,832 1,814 9,374 
SARD 2
221 116 147 484 
Equity in earnings (losses) of nonconsolidated affiliates7 (39)1 (31)
Other segment income (expense) items 3
(12)16 (17)(13)
Segment Operating EBIT 4
$71 $(185)$152 $38 
Three months ended Jun 30, 2024
Net sales$5,515 $2,951 $2,243 $10,709 
Cost of sales4,616 2,803 1,915 9,334 
SARD 2
253 127 157 537 
Equity in earnings (losses) of nonconsolidated affiliates55 (31)2 26 
Other segment income (expense) items 3
2 17 (27)(8)
Segment Operating EBIT 4
$703 $7 $146 $856 
Six months ended Jun 30, 2025
Net sales$10,335 $5,641 $4,200 $20,176 
Cost of sales9,493 5,654 3,659 18,806 
SARD 2
461 243 298 1,002 
Equity in earnings (losses) of nonconsolidated affiliates46 (97)1 (50)
Other segment income (expense) items 3
(14)40 (43)(17)
Segment Operating EBIT 4
$413 $(313)$201 $301 
Six months ended Jun 30, 2024
Net sales$10,945 $5,959 $4,395 $21,299 
Cost of sales9,213 5,579 3,809 18,601 
SARD 2
508 263 354 1,125 
Equity in earnings (losses) of nonconsolidated affiliates80 (46)8 42 
Other segment income (expense) items 3
4 23 (53)(26)
Segment Operating EBIT 4
$1,308 $94 $187 $1,589 
1.Significant expense categories are presented on an operating basis, net of the impact of significant items.
2.SARD includes selling, general and administrative and research and development expenses.
3.Other segment items includes amortization of intangibles and sundry income (expense) - net.
4.Segment Operating EBIT for TDCC for the three and six months ended June 30, 2025 and 2024 is substantially the same as that of Dow Inc. and therefore is not disclosed separately in the table above. A reconciliation of "Segment Operating EBIT" to "Income (loss) before income taxes" is provided in the following table.

Reconciliation of "Segment Operating EBIT" to "Income (Loss) Before Income Taxes"
Three Months EndedSix Months Ended
In millionsJun 30, 2025Jun 30, 2024Jun 30, 2025Jun 30, 2024
Segment Operating EBIT$38 $856 $301 $1,589 
+ Corporate Operating EBIT(59)(37)(92)(96)
+ Interest income39 42 67 107 
- Interest expense and amortization of debt discount209 197 425 396 
+ Significant items(468)(56)(884)(147)
Income (loss) before income taxes$(659)$608 $(1,033)$1,057 
Other Segment InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment Total
Corp. 1
Total
In millions
Three months ended Jun 30, 2025
Net sales$5,025 $2,786 $2,129 $9,940 $164 $10,104 
Depreciation and amortization$369 $153 $192 $714 $10 $724 
Capital expenditures$510 $102 $50 $662 $— $662 
Operating EBIT$71 $(185)$152 $38 $(59)$(21)
Three months ended Jun 30, 2024
Net sales$5,515 $2,951 $2,243 $10,709 $206 $10,915 
Depreciation and amortization$343 $141 $191 $675 $7 $682 
Capital expenditures$475 $170 $78 $723 $— $723 
Operating EBIT$703 $7 $146 $856 $(37)$819 
Six months ended Jun 30, 2025
Net sales$10,335 $5,641 $4,200 $20,176 $359 $20,535 
Depreciation and amortization$729 $299 $392 $1,420 $18 $1,438 
Capital expenditures$1,025 $231 $91 $1,347 $— $1,347 
Operating EBIT$413 $(313)$201 $301 $(92)$209 
Six months ended Jun 30, 2024
Net sales$10,945 $5,959 $4,395 $21,299 $381 $21,680 
Depreciation and amortization$714 $288 $384 $1,386 $16 $1,402 
Capital expenditures$944 $332 $161 $1,437 $— $1,437 
Operating EBIT$1,308 $94 $187 $1,589 $(96)$1,493 
1.Corporate contains the reconciliation between the totals for the operating segments and the Company's totals. Net sales for Corporate are primarily related to insurance operations. Corporate expenses are primarily related to insurance operations, salaries and wages and non-business aligned environmental and legal costs.

Segment Asset InformationPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment TotalCorp.Total
In millions
Jun 30, 2025
Total assets$29,791 $12,252 $11,585 $53,628 $5,363 $58,991 
Investments in nonconsolidated affiliates 1
$686 $386 $145 $1,217 $45 $1,262 
Dec 31, 2024
Total assets$29,034 $11,928 $11,170 $52,132 $5,180 $57,312 
Investments in nonconsolidated affiliates 1
$711 $367 $146 $1,224 $42 $1,266 
1.See Note 10 for additional information regarding the Company's investments in nonconsolidated affiliates.
The following tables summarize the pretax impact of significant items by segment excluded from Operating EBIT:

Significant Items by Segment
In millionsPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Mat. & CoatingsOperating Segment TotalCorp.Total
Three months ended Jun 30, 2025
2025 Restructuring Program severance and related benefit costs and asset related charges 1
$(158)$(89)$(147)$(394)$(197)$(591)
Implementation costs 2
— — — — (5)(5)
Net gain on divestitures and asset sale 3
— 103 — 103 — 103 
Litigation related charges, awards and adjustments 4
— — — — 42 42 
Indemnification and other transaction related costs 5
— — — — (17)(17)
Total significant items by segment$(158)$14 $(147)$(291)$(177)$(468)
Six months ended Jun 30, 2025
Restructuring, implementation and efficiency costs, and asset related charges - net 6
$— $(1)$— $(1)$(50)$(51)
2025 Restructuring Program severance and related benefit costs and asset related charges 1
(158)(89)(147)(394)(404)(798)
Implementation costs 2
— — — — (5)(5)
Net gain on divestitures and asset sale 3
— 103 — 103 — 103 
Litigation related charges, awards and adjustments 4
— — — — 42 42 
Loss on early extinguishment of debt 7
— — — — (60)(60)
Indemnification and other transaction related costs 5
— — — — (115)(115)
Total significant items by segment$(158)$13 $(147)$(292)$(592)$(884)
1.Severance and related benefit costs and impairment charges related to the write-down of certain manufacturing facilities, corporate assets, leased non-manufacturing facilities and other miscellaneous assets associated with the Company's 2025 Restructuring Program. See Note 5 for additional information.
2.Implementation costs associated with the Company's 2025 Restructuring Program and the sale of membership interests of the Company's wholly owned subsidiary, Diamond Infrastructure Solutions.
3.Related to a gain on the sale of the soil fumigation product line. See Note 4 for additional information.
4.Includes a gain associated with the reassessment of liabilities for certain accrued Groundwater Matters, partially offset by the settlement of a separate claim related to water storage district Groundwater Matters. See Note 14 for additional information.
5.Charges associated with agreements entered into with DuPont and Corteva as part of the separation and distribution which, among other matters, provides for cross-indemnities and allocations of obligations and liabilities for periods prior to, at and after the completion of the separation. The six months ended June 30, 2025 also includes a charge related to an arbitration settlement agreement for historical product claims from a divested business. See Note 14 for additional information.
6.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. The six months ended June 30, 2024 also includes impairment charges related to the write-down of certain manufacturing assets, partially offset by an asset related credit adjustment. See Note 5 for additional information.
7.The Company retired outstanding long-term debt resulting in a loss on early extinguishment. See Note 13 for additional information.

Significant Items by SegmentPack. & Spec. PlasticsInd. Interm. & Infrast.Perf. Materials & CoatingsOperating Segment TotalCorp.Total
In millions
Three months ended Jun 30, 2024
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$— $— $— $— $(56)$(56)
Six months ended Jun 30, 2024
Restructuring, implementation and efficiency costs, and asset related charges - net 1
$(37)$(8)$— $(45)$(102)$(147)
1.Includes restructuring charges and implementation and efficiency costs associated with the Company's 2023 Restructuring Program. The six months ended June 30, 2024 also includes impairment charges related to the write-down of certain manufacturing assets.