DOW INC

For the period ended Dec 31, 2024. Filed Feb 4, 2025.

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.

FY2024 · Filed Feb 4, 2025

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,	2024	2023	2022
Operating Activities
Net income	$1,201	$660	$4,640
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,894	2,611	2,758
Provision (credit) for deferred income tax	135	(1,222)	79
Earnings of nonconsolidated affiliates less than dividends received	348	387	696
Net periodic pension benefit cost (credit)	(210)	548	23
Pension contributions	(121)	(142)	(235)
Net gain on sales of assets, businesses and investments	(65)	(70)	(19)
Restructuring and asset related charges - net	103	528	118
Other net loss	239	796	212
Changes in assets and liabilities, net of effects of acquired and divested companies:
Accounts and notes receivable	(224)	1,161	1,187
Inventories	(529)	844	347
Accounts payable	278	(734)	(1,255)
Other assets and liabilities, net	(1,146)	(203)	(1,065)
Cash provided by operating activities - continuing operations	2,903	5,164	7,486
Cash provided by (used for) operating activities - discontinued operations	11	32	(11)
Cash provided by operating activities	2,914	5,196	7,475
Investing Activities
Capital expenditures	(2,940)	(2,356)	(1,823)
Investment in gas field developments	(203)	(215)	(190)
Purchases of previously leased assets	—	(7)	(7)
Proceeds from sales of property, businesses and consolidated companies, net of cash divested	234	95	32
Acquisitions of property and businesses, net of cash acquired	(125)	(114)	(228)
Investments in and loans to nonconsolidated affiliates	(28)	(5)	(148)
Distributions and loan repayments from nonconsolidated affiliates	—	2	52
Proceeds from sales of ownership interests in nonconsolidated affiliates	—	63	11
Purchases of investments	(1,809)	(2,288)	(1,366)
Proceeds from sales and maturities of investments	2,536	1,958	747
Other investing activities, net	(33)	(61)	(50)
Cash used for investing activities	(2,368)	(2,928)	(2,970)
Financing Activities
Changes in short-term notes payable	(61)	(249)	253
Proceeds from issuance of short-term debt greater than three months	143	—	—
Payments on short-term debt greater than three months	(17)	—	(14)
Proceeds from issuance of long-term debt	1,467	104	1,667
Payments on long-term debt	(267)	(446)	(1,006)
Collections on securitization programs, net of remittances	(9)	18	—
Purchases of treasury stock	(494)	(625)	(2,325)
Proceeds from issuance of stock	166	188	212
Transaction financing, debt issuance and other costs	(14)	(2)	(24)
Employee taxes paid for share-based payment arrangements	(39)	(42)	(35)
Distributions to noncontrolling interests	(77)	(89)	(83)
Dividends paid to stockholders	(1,966)	(1,972)	(2,006)
Cash used for financing activities	(1,168)	(3,115)	(3,361)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(163)	(45)	(237)
Summary
Increase (decrease) in cash, cash equivalents and restricted cash	(785)	(892)	907
Cash, cash equivalents and restricted cash at beginning of year	3,048	3,940	3,033
Cash, cash equivalents and restricted cash at end of year	$2,263	$3,048	$3,940
Less: Restricted cash and cash equivalents, included in "Other current assets"	74	61	54
Cash and cash equivalents at end of year	$2,189	$2,987	$3,886

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.