DOW INC

For the period ended Dec 31, 2023. Filed Jan 31, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Jan 31, 2024

DOW$31.48+1.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Cash Flows

(In millions) For the years ended Dec 31,	2023	2022	2021
Operating Activities
Net income	$660	$4,640	$6,405
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,611	2,758	2,842
Provision (credit) for deferred income tax	(1,222)	79	278
Earnings of nonconsolidated affiliates less than (in excess of) dividends received	387	696	(651)
Net periodic pension benefit cost	548	23	39
Pension contributions	(142)	(235)	(1,219)
Net gain on sales of assets, businesses and investments	(70)	(19)	(105)
Restructuring and asset related charges - net	528	118	6
Other net loss	796	212	921
Changes in assets and liabilities, net of effects of acquired and divested companies:
Accounts and notes receivable	1,161	1,187	(2,132)
Inventories	844	347	(1,768)
Accounts payable	(734)	(1,255)	2,458
Other assets and liabilities, net	(203)	(1,065)	(5)
Cash provided by operating activities - continuing operations	5,164	7,486	7,069
Cash provided by (used for) operating activities - discontinued operations	32	(11)	(60)
Cash provided by operating activities	5,196	7,475	7,009
Investing Activities
Capital expenditures	(2,356)	(1,823)	(1,501)
Investment in gas field developments	(215)	(190)	(92)
Purchases of previously leased assets	(7)	(7)	(694)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested	95	32	68
Acquisitions of property and businesses, net of cash acquired	(114)	(228)	(129)
Investments in and loans to nonconsolidated affiliates	(5)	(148)	—
Distributions and loan repayments from nonconsolidated affiliates	2	52	51
Proceeds from sales of ownership interests in nonconsolidated affiliates	63	11	—
Purchases of investments	(2,288)	(1,366)	(1,366)
Proceeds from sales and maturities of investments	1,958	747	759
Other investing activities, net	(61)	(50)	(10)
Cash used for investing activities	(2,928)	(2,970)	(2,914)
Financing Activities
Changes in short-term notes payable	(249)	253	(48)
Proceeds from issuance of short-term debt greater than three months	—	—	144
Payments on short-term debt greater than three months	—	(14)	(130)
Proceeds from issuance of long-term debt	104	1,667	109
Payments on long-term debt	(446)	(1,006)	(2,771)
Collections on securitization programs	18	—	—
Purchases of treasury stock	(625)	(2,325)	(1,000)
Proceeds from issuance of stock	188	212	320
Transaction financing, debt issuance and other costs	(2)	(24)	(537)
Employee taxes paid for share-based payment arrangements	(42)	(35)	(12)
Distributions to noncontrolling interests	(89)	(83)	(73)
Dividends paid to stockholders	(1,972)	(2,006)	(2,073)
Cash used for financing activities	(3,115)	(3,361)	(6,071)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(45)	(237)	(99)
Summary
Increase (decrease) in cash, cash equivalents and restricted cash	(892)	907	(2,075)
Cash, cash equivalents and restricted cash at beginning of year	3,940	3,033	5,108
Cash, cash equivalents and restricted cash at end of year	$3,048	$3,940	$3,033
Less: Restricted cash and cash equivalents, included in "Other current assets"	61	54	45
Cash and cash equivalents at end of year	$2,987	$3,886	$2,988

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.