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Midas Edge

DOW INC

For the period ended Jun 30, 2024. Filed Jul 26, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Jul 26, 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

Transfers of Financial Assets

NOTE 10 –TRANSFERS OF FINANCIAL ASSETS

Accounts Receivable Programs

The Company maintains accounts receivable facilities with various financial institutions, with committed and uncommitted facilities in the United States and a committed facility in Europe (collectively, "the Programs"), which are set to expire in November 2025. Under the terms of the Programs, the Company may sell certain eligible trade accounts receivable at any point in time, up to $900 million for the U.S. committed facility and up to €500 million for the Europe committed facility. Under the terms of the Programs, the Company continues to service the receivables from the customer, but retains no interest in the receivables, and remits payment to the financial institutions. Losses on transfers of receivables were insignificant for the three and six months ended June 30, 2024. The Company also provides a guarantee to the financial institutions for the creditworthiness and collection of the receivables in satisfaction of the facility. See Note 12 for additional information related to guarantees.

The Company has access to accounts receivable discounting facilities that cover certain receivables generated from sales in EMEAI, Asia Pacific and Canada (collectively, "the Facilities"). Under the terms of the Facilities, the Company retains no interest in the transferred receivables once sold and receivables are transferred with limited recourse. The Company continues to service the receivables from the customer and remits payment to the Facilities. Losses on transfers of receivables were insignificant for the three and six months ended June 30, 2024.

The following table provides a summary of cash flows related to the Programs and the Facilities for the three and six months ended June 30, 2024. There were no transfers of receivables for the three and six months ended June 30, 2023.

Cash Flows Related to Transfers of Accounts ReceivableThree Months EndedSix Months Ended
In millionsJun 30, 2024Jun 30, 2023Jun 30, 2024Jun 30, 2023
Proceeds received from new transfers$623$—$1,050$—

The following table provides the balances related to the Programs and the Facilities at June 30, 2024 and December 31, 2023:

Balances Related to Transfers of Accounts ReceivableJun 30, 2024Dec 31, 2023
In millions
Balance outstanding$623$170
Accounts receivable derecognized584152
Amounts recognized in the consolidated balance sheets:
Accrued and other current liabilities 13918
  1. Represents amounts collected from customers and not yet remitted by the Company.
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.