Dow Inc. and Subsidiaries Consolidated Balance Sheets (In millions, except share amounts) At Dec 31, 2021 2020 Assets Current Assets Cash and cash equivalents $ 2,988 $ 5,104 Accounts and notes receivable: Trade (net of allowance for doubtful receivables - 2021 : $54 ; 2020 : $51 ) 6,841 5,090 Other 2,713 2,300 Inventories 7,372 5,701 Other current assets 934 889 Total current assets 20,848 19,084 Investments Investment in nonconsolidated affiliates 2,045 1,327 Other investments (investments carried at fair value - 2021 : $2,079 ; 2020 : $1,674 ) 3,193 2,775 Noncurrent receivables 478 465 Total investments 5,716 4,567 Property Property 57,604 56,325 Less: Accumulated depreciation 37,049 36,086 Net property 20,555 20,239 Other Assets Goodwill 8,764 8,908 Other intangible assets (net of accumulated amortization - 2021 : $4,725 ; 2020 : $4,428 ) 2,881 3,352 Operating lease right-of-use assets 1,412 1,856 Deferred income tax assets 1,358 2,215 Deferred charges and other assets 1,456 1,249 Total other assets 15,871 17,580 Total Assets $ 62,990 $ 61,470 Liabilities and Equity Current Liabilities Notes payable $ 161 $ 156 Long-term debt due within one year 231 460 Accounts payable: Trade 5,577 3,763 Other 2,839 2,126 Operating lease liabilities - current 314 416 Income taxes payable 623 397 Accrued and other current liabilities 3,481 3,790 Total current liabilities 13,226 11,108 Long-Term Debt 14,280 16,491 Other Noncurrent Liabilities Deferred income tax liabilities 506 405 Pension and other postretirement benefits - noncurrent 7,557 11,648 Asbestos-related liabilities - noncurrent 931 1,013 Operating lease liabilities - noncurrent 1,149 1,521 Other noncurrent obligations 6,602 6,279 Total other noncurrent liabilities 16,745 20,866 Stockholders’ Equity Common stock (authorized 5,000,000,000 shares of $0.01 par value each; issued 2021 : 764,226,882 shares; 2020 : 755,993,198 shares) 8 8 Additional paid-in capital 8,151 7,595 Retained earnings 20,623 16,361 Accumulated other comprehensive loss (8,977) (10,855) Unearned ESOP shares (15) (49) Treasury stock at cost ( 2021 : 29,011,573 shares; 2020 : 12,803,303 shares) (1,625) (625) Dow Inc.’s stockholders’ equity 18,165 12,435 Noncontrolling interests 574 570 Total equity 18,739 13,005 Total Liabilities and Equity $ 62,990 $ 61,470 See Notes to the Consolidated Financial Statements. 75