DOW CHEMICAL CO /DE/
For the period ended Dec 31, 2025. Filed Feb 3, 2026.
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FY2025 · Filed Feb 3, 2026
DOW$30.96-1.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (In millions, except share amounts) At Dec 31, | 2025 | 2024 |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $3,816 | $2,189 |
| Accounts and notes receivable: | ||
| Trade (net of allowance for doubtful receivables - 2025: $59; 2024: $95) | 4,762 | 4,756 |
| Other | 1,876 | 2,108 |
| Inventories | 6,595 | 6,544 |
| Other current assets | 1,013 | 993 |
| Total current assets (variable interest entities restricted - 2025: $228; 2024: $55) | 18,062 | 16,590 |
| Investments | ||
| Investment in nonconsolidated affiliates | 1,264 | 1,266 |
| Other investments (investments carried at fair value - 2025: $2,212; 2024: $2,047) | 3,017 | 3,033 |
| Noncurrent receivables | 309 | 380 |
| Total investments | 4,590 | 4,679 |
| Property | ||
| Property | 65,863 | 62,121 |
| Less: Accumulated depreciation | 43,613 | 40,117 |
| Net property (variable interest entities restricted - 2025: $2,385; 2024: $122) | 22,250 | 22,004 |
| Other Assets | ||
| Goodwill | 7,978 | 8,565 |
| Other intangible assets (net of accumulated amortization - 2025: $5,727; 2024: $5,394) | 1,486 | 1,721 |
| Operating lease right-of-use assets | 1,356 | 1,268 |
| Deferred income tax assets | 1,511 | 1,257 |
| Deferred charges and other assets | 1,305 | 1,228 |
| Total other assets (variable interest entities restricted - 2025: $226; 2024: $15) | 13,636 | 14,039 |
| Total Assets | $58,538 | $57,312 |
| Liabilities and Equity | ||
| Current Liabilities | ||
| Notes payable | $90 | $135 |
| Long-term debt due within one year | 222 | 497 |
| Accounts payable: | ||
| Trade | 4,151 | 4,847 |
| Other | 1,394 | 1,694 |
| Operating lease liabilities - current | 340 | 318 |
| Income taxes payable | 337 | 276 |
| Accrued and other current liabilities | 2,649 | 2,521 |
| Total current liabilities (variable interest entities restricted - 2025: $438; 2024: $24) | 9,183 | 10,288 |
| Long-Term Debt (variable interest entities restricted - 2025: $190; 2024: $—) | 17,849 | 15,711 |
| Other Noncurrent Liabilities | ||
| Deferred income tax liabilities | 364 | 392 |
| Pension and other postretirement benefits - noncurrent | 4,694 | 4,736 |
| Asbestos-related liabilities - noncurrent | 628 | 713 |
| Operating lease liabilities - noncurrent | 1,097 | 984 |
| Other noncurrent obligations | 7,201 | 6,637 |
| Total other noncurrent liabilities (variable interest entities restricted - 2025: $364; 2024: $13) | 13,984 | 13,462 |
| Stockholders’ Equity | ||
| Common stock (authorized 5,000,000,000 shares of $0.01 par value each;issued 2025: 790,287,565 shares; 2024: 784,471,939 shares) | 8 | 8 |
| Additional paid-in capital | 11,112 | 9,203 |
| Retained earnings | 16,781 | 20,909 |
| Accumulated other comprehensive loss | (7,660) | (8,110) |
| Treasury stock at cost (2025: 73,065,152 shares; 2024: 80,859,145 shares) | (4,233) | (4,655) |
| Dow Inc.’s stockholders’ equity | 16,008 | 17,355 |
| Noncontrolling interests | 1,514 | 496 |
| Total equity | 17,522 | 17,851 |
| Total Liabilities and Equity | $58,538 | $57,312 |
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