DOW INC
For the period ended Dec 31, 2023. Filed Jan 31, 2024.
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FY2023 · Filed Jan 31, 2024
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Noncontrolling Interests
NOTE 17 –NONCONTROLLING INTERESTS
Ownership interests in the Company's subsidiaries held by parties other than the Company are presented separately from the Company's equity in the consolidated balance sheets as "Noncontrolling interests." The amount of consolidated net income attributable to the Company and the noncontrolling interests are both presented on the face of the consolidated statements of income.
The following table summarizes the activity for equity attributable to noncontrolling interests for the years ended December 31, 2023, 2022 and 2021:
| Noncontrolling Interests | |||
|---|---|---|---|
| In millions | 2023 | 2022 | 2021 |
| Balance at Jan 1 | $529 | $574 | $570 |
| Net income attributable to noncontrolling interests 1 | 71 | 58 | 94 |
| Distributions to noncontrolling interests 2 | (81) | (76) | (66) |
| Cumulative translation adjustments | (19) | (28) | (25) |
| Other | 1 | 1 | 1 |
| Balance at Dec 31 | $501 | $529 | $574 |
1.2022 includes the portion of asset related charges attributable to noncontrolling interests related to a joint venture in Russia. See Note 4 for additional information.
- Distributions to noncontrolling interests are net of $8 million in 2023 ($7 million in 2022 and 2021) in dividends paid to a joint venture, which were reclassified to "Equity in earnings (losses) of nonconsolidated affiliates" in the consolidated statements of income.
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