DOW INC
For the period ended Sep 30, 2024. Filed Oct 25, 2024.
View on SEC.govAbout 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.
Sep 30, 2024 · Filed Oct 25, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Accumulated Other Comprehensive Loss
NOTE 15 –ACCUMULATED OTHER COMPREHENSIVE LOSS
The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and nine months ended September 30, 2024 and 2023 were as follows:
| Accumulated Other Comprehensive Loss | Three Months Ended | Nine Months Ended | ||
|---|---|---|---|---|
| In millions | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2024 | Sep 30, 2023 |
| Unrealized Gains (Losses) on Investments | ||||
| Beginning balance | $(198) | $(161) | $(253) | $(253) |
| Unrealized gains (losses) on investments | 59 | (33) | 139 | 55 |
| Tax (expense) benefit | (15) | 9 | (35) | 48 |
| Net unrealized gains (losses) on investments | 44 | (24) | 104 | 103 |
| (Gains) losses reclassified from AOCL to net income 1 | (12) | 4 | (19) | (41) |
| Tax expense (benefit) 2 | 2 | — | 4 | 10 |
| Net (gains) losses reclassified from AOCL to net income | (10) | 4 | (15) | (31) |
| Other comprehensive income (loss), net of tax | 34 | (20) | 89 | 72 |
| Ending balance | $(164) | $(181) | $(164) | $(181) |
| Cumulative Translation Adjustment | ||||
| Beginning balance | $(2,056) | $(1,936) | $(1,891) | $(1,934) |
| Gains (losses) on foreign currency translation | 197 | (122) | 42 | (122) |
| Tax (expense) benefit | 8 | (6) | 5 | (16) |
| Net gains (losses) on foreign currency translation | 205 | (128) | 47 | (138) |
| (Gains) losses reclassified from AOCL to net income 3 | (6) | (19) | (13) | (11) |
| Other comprehensive income (loss), net of tax | 199 | (147) | 34 | (149) |
| Ending balance | $(1,857) | $(2,083) | $(1,857) | $(2,083) |
| Pension and Other Postretirement Benefits | ||||
| Beginning balance | $(5,452) | $(4,875) | $(5,486) | $(4,877) |
| Gains (losses) arising during the period | 2 | (4) | 2 | (7) |
| Amortization of net loss and prior service credits reclassified from AOCL to net income 4 | 21 | 3 | 64 | 8 |
| Tax expense (benefit) 2 | (5) | (1) | (14) | (1) |
| Net loss and prior service credits reclassified from AOCL to net income | 16 | 2 | 50 | 7 |
| Other comprehensive income (loss), net of tax | 18 | (2) | 52 | — |
| Ending balance | $(5,434) | $(4,877) | $(5,434) | $(4,877) |
| Derivative Instruments | ||||
| Beginning balance | $(79) | $(95) | $(51) | $(75) |
| Gains (losses) on derivative instruments | 37 | (58) | (9) | (242) |
| Tax (expense) benefit | (9) | (2) | 2 | 34 |
| Net gains (losses) on derivative instruments | 28 | (60) | (7) | (208) |
| (Gains) losses reclassified from AOCL to net income 5 | 4 | 45 | 13 | 209 |
| Tax expense (benefit) 2 | (1) | (10) | (3) | (46) |
| Net (gains) losses reclassified from AOCL to net income | 3 | 35 | 10 | 163 |
| Other comprehensive income (loss), net of tax | 31 | (25) | 3 | (45) |
| Ending balance | $(48) | $(120) | $(48) | $(120) |
| Total AOCL ending balance | $(7,503) | $(7,261) | $(7,503) | $(7,261) |
Reclassified to "Net sales" and "Sundry income (expense) - net."
Reclassified to "Provision for income taxes."
Reclassified to "Sundry income (expense) - net."
These AOCL components are included in the computation of net periodic benefit cost (credit) of the Company's defined benefit pension and other postretirement benefit plans. See Note 17 for additional information.
Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."
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