DOW INC
For the period ended Dec 31, 2024. Filed Feb 4, 2025.
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FY2024 · Filed Feb 4, 2025
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Item 16. Form 10-K Summary
| Dow Inc. and Subsidiaries | |
| The Dow Chemical Company and Subsidiaries | |
| Valuation and Qualifying Accounts | Schedule II |
| (In millions) For the years ended Dec 31, | 2024 | 2023 | 2022 |
|---|---|---|---|
| Accounts Receivable - Allowance for Doubtful Receivables | |||
| Balance at beginning of year | $81 | $110 | $54 |
| Additions charged to expenses 1 | 28 | 21 | 61 |
| Deductions from reserves 2 | (14) | (50) | (5) |
| Balance at end of year | $95 | $81 | $110 |
| Inventory - Obsolescence Reserve | |||
| Balance at beginning of year | $70 | $57 | $14 |
| Additions charged to expenses | 27 | 20 | 50 |
| Deductions from reserves 3 | (9) | (7) | (7) |
| Balance at end of year | $88 | $70 | $57 |
| Reserves for Other Investments and Noncurrent Receivables | |||
| Balance at beginning of year | $1,751 | $1,950 | $2,033 |
| Additions charged to expenses 4 | 14 | 31 | 17 |
| Deductions from reserves 5 | (115) | (230) | (100) |
| Balance at end of year | $1,650 | $1,751 | $1,950 |
| Deferred Tax Assets - Valuation Allowance | |||
| Balance at beginning of year | $2,948 | $1,269 | $1,391 |
| Additions charged to expenses 6 | 55 | 1,864 | 120 |
| Deductions from reserves | (255) | (185) | (242) |
| Balance at end of year | $2,748 | $2,948 | $1,269 |
Additions included a $23 million reclassification from "Reserves for Other Investments and Noncurrent Receivables" in 2024.
Deductions included write-offs, recoveries, currency translation adjustments and other miscellaneous items, including a $23 million reclassification to "Reserves for Other Investments and Noncurrent Receivables" in 2023.
Deductions included disposals and currency translation adjustments.
Additions included a $23 million reclassification from "Accounts Receivable - Allowance for Doubtful Receivables" in 2023.
Deductions included a $23 million reclassification to "Accounts Receivable - Allowance for Doubtful Receivables" in 2024, $143 million related to the Company's investment in AgroFresh Solutions Inc., which was converted to cash, in 2023, and $77 million in 2024, 2023 and 2022 related to the Company's investment in Sadara. See Note 11 to the Consolidated Financial Statements for additional information.
Additions in 2023 include increases in valuation allowances related to foreign tax assets that are expected to expire without being utilized.
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