Currency had a favorable impact of 2 percent on net sales compared with 2020, driven by EMEAI (up 4 percent) and Asia Pacific (up 2 percent). Restructuring and asset related charges - net were $6 million in 2021 , compared with $708 million in 2020 , primarily reflecting actions taken under the 2020 Restructuring Program. Equity in earnings of nonconsolidated affiliates was $975 million in 2021 , compared with equity losses of $18 million in 2020 , primarily driven by margin expansion at Sadara Chemical Company ("Sadara") and the Kuwait and Thai joint ventures. Sundry income (expense) - net for Dow Inc. and TDCC was expense of $35 million and $79 million , respectively, in 2021 , compared with income of $1,269 million and $1,274 million , respectively, in 2020 . Sundry income (expense) - net decreased primarily due to losses on the early extinguishment of debt in the current year, compared with gains related to a legal matter, the sale of certain marine and terminal operations and the sale of certain rail infrastructure operations and assets, which were partially offset by losses on the early extinguishment of debt in the prior year. Net income available for Dow Inc. and TDCC common stockholder(s) was $6,311 million and $6,274 million , respectively, in 2021 , compared with $1,225 million and $1,235 million , respectively, in 2020 . Earnings per share for Dow Inc. was $8.38 per share in 2021 , compared with $1.64 per share in 2020 . In 2021, TDCC redeemed more than $1 billion of certain notes due in 2024 and completed cash tender offers resulting in over $1 billion of aggregate principal amount of certain notes being tendered and retired. The Company's proactive liability management actions to tender and redeem existing notes have resulted in no substantive long-term debt maturities due until 2026. In 2021, the Company executed strategic buy-outs of certain leased assets for approximately $690 million. In 2021, Dow Inc. declared and paid dividends to common stockholders of $2.80 per share ($2,073 million). In 2021, Dow Inc. repurchased $1,000 million of the Company's common stock. Other notable events and highlights from the year ended December 31, 2021 include: • Dow received three 2021 BIG Innovation Awards from the Business Intelligence Group for DOWSIL™ TC-3065 Thermally Conductive Gel; DOWSIL™ 993N Structural Glazing Sealant and Catalyst; and the world's first commercial polyurethane-carbon fiber spar cap for the new generation of wind blades. • Dow was named to Bloomberg’s 2021 Gender-Equality Index. • Dow was named by the Human Rights Campaign ("HRC") Foundation to its 2021 list of “Best Places to Work for LGBTQ+ Equality.” This marks the Company’s sixteenth consecutive year receiving a perfect score on HRC’s Corporate Equality Index. • On March 4, 2021, TDCC announced changes to the design of its U.S. tax-qualified and non-qualified retirement programs. Separately, TDCC elected to contribute $1 billion to its U.S. tax-qualified pension plans. • Dow was recognized with three Manufacturing Leadership Awards by the Manufacturing Leadership Council, a division of the National Association of Manufacturers. Dow’s Manufacturing 4.0 received the Enterprise Integration and Technology Award, the E2E Business Planning Program was awarded the Supply Chain Award, and Accelerating Innovation in Instrumentation & Sensors at Dow Texas Operations received the Industrial Internet of Things Award. • Dow received a 2021 CIO 100 award from IDG’s CIO for the digitalization of its end-to-end business planning platform. • On March 25, 2021, Dow Inc. (together with Sadara and the Saudi Arabian Oil Company) completed a debt re- profiling agreement for Sadara with agency creditors and commercial lenders. The re-profiled debt repayment schedule is better aligned to match Sadara's expected future cash flow generation. • Dow received two 2021 Ringier Technology Innovation Awards in the Plastics Raw Materials & Additives category including: Post-Consumer Recycled resin XUS60921.01 and Carpet tile with INFUSE™ polyolefin backing. 32