Dow Inc. Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	3,816	2,189	2,987	3,886	2,988
Short-Term Investments	-	383	1,300	939	245
Trading Asset Securities	-	-	1	105	1
Cash & Short-Term Investments	3,816	2,572	4,288	4,930	3,234
Cash Growth	48.37%	-40.02%	-13.02%	52.44%	-37.19%
Accounts Receivable	4,762	4,756	4,731	5,659	6,875
Other Receivables	-	300	189	307	357
Receivables	6,638	6,864	6,627	7,803	9,588
Inventory	6,595	6,544	6,076	6,988	7,372
Restricted Cash	136	74	61	54	45
Other Current Assets	877	536	562	702	609
Total Current Assets	18,062	16,590	17,614	20,477	20,848
Property, Plant & Equipment	23,606	23,272	22,386	21,669	21,967
Long-Term Investments	4,590	4,679	4,448	5,048	5,716
Goodwill	7,978	8,565	8,641	8,644	8,764
Other Intangible Assets	1,486	1,721	2,072	2,442	2,881
Long-Term Accounts Receivable	-	2	4	16	26
Long-Term Deferred Tax Assets	1,511	1,257	1,486	960	1,358
Long-Term Deferred Charges	1,305	458	421	312	1,395
Other Long-Term Assets	-	768	895	1,035	35
Total Assets	58,538	57,312	57,967	60,603	62,990
Accounts Payable	5,545	6,541	6,326	7,216	8,416
Accrued Expenses	2,649	2,110	2,343	2,404	2,632
Short-Term Debt	90	135	62	362	161
Current Portion of Long-Term Debt	222	418	22	253	203
Current Portion of Leases	340	424	446	396	420
Current Income Taxes Payable	337	276	419	334	623
Current Unearned Revenue	-	244	195	275	209
Other Current Liabilities	-	140	144	91	562
Total Current Liabilities	9,183	10,288	9,957	11,331	13,226
Long-Term Debt	17,849	14,878	14,151	14,017	13,579
Long-Term Leases	1,097	1,817	1,788	1,678	1,912
Long-Term Unearned Revenue	-	1,480	1,642	1,725	1,925
Pension & Post-Retirement Benefits	4,694	4,736	4,932	3,808	7,557
Long-Term Deferred Tax Liabilities	364	392	399	1,110	506
Other Long-Term Liabilities	7,829	5,870	5,990	5,687	5,546
Total Liabilities	41,016	39,461	38,859	39,356	44,251
Common Stock	8	8	8	8	8
Additional Paid-In Capital	11,112	9,203	8,880	8,540	8,151
Retained Earnings	16,781	20,909	21,774	23,180	20,623
Treasury Stock	-4,233	-4,655	-4,374	-3,871	-1,625
Comprehensive Income & Other	-7,660	-8,110	-7,681	-7,139	-8,992
Total Common Equity	16,008	17,355	18,607	20,718	18,165
Minority Interest	1,514	496	501	529	574
Shareholders' Equity	17,522	17,851	19,108	21,247	18,739
Total Liabilities & Equity	58,538	57,312	57,967	60,603	62,990
Total Debt	19,598	17,672	16,469	16,706	16,275
Net Cash (Debt)	-15,782	-15,100	-12,181	-11,776	-13,041
Net Cash Per Share	-22.18	-21.42	-17.18	-16.23	-17.41
Filing Date Shares Outstanding	717.22	703.83	702.29	704.88	731.25
Total Common Shares Outstanding	717.22	703.61	702.29	704.88	730.72
Working Capital	8,879	6,302	7,657	9,146	7,622
Book Value Per Share	22.32	24.67	26.49	29.39	24.86
Tangible Book Value	6,544	7,069	7,894	9,632	6,520
Tangible Book Value Per Share	9.12	10.05	11.24	13.66	8.92
Land	-	2,255	2,218	2,129	2,045
Buildings	-	5,145	5,216	5,045	5,108
Machinery	-	44,047	43,343	42,131	42,627
Construction In Progress	-	3,431	2,561	2,128	1,538

Source: S&P Global Market Intelligence. Standard template. Financial Sources.