filings.toolsItem 16. FORM 10-K SUMMARY
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Item 16. FORM 10-K SUMMARY
Not applicable.
| Dow Inc. and Subsidiaries | ||||||||
| The Dow Chemical Company and Subsidiaries | ||||||||
| Valuation and Qualifying Accounts | Schedule II |
| (In millions) For the years ended Dec 31, | 2021 | 2020 | 2019 | ||||||||
| Accounts Receivable - Allowance for Doubtful Receivables | |||||||||||
| Balance at beginning of year | $ | 51 | $ | 45 | $ | 42 | |||||
| Additions charged to expenses 1 | 16 | 22 | 24 | ||||||||
| Deductions from reserves 2 | (13) | (16) | (21) | ||||||||
| Balance at end of year | $ | 54 | $ | 51 | $ | 45 | |||||
| Inventory - Obsolescence Reserve | |||||||||||
| Balance at beginning of year | $ | 23 | $ | 35 | $ | 23 | |||||
| Additions charged to expenses | 3 | 2 | 19 | ||||||||
| Deductions from reserves 3 | (12) | (14) | (7) | ||||||||
| Balance at end of year | $ | 14 | $ | 23 | $ | 35 | |||||
| Reserves for Other Investments and Noncurrent Receivables | |||||||||||
| Balance at beginning of year | $ | 2,093 | $ | 2,215 | $ | 460 | |||||
| Additions charged to expenses 1 | 19 | 7 | 1,758 | ||||||||
| Deductions from reserves 4 | (79) | (129) | (3) | ||||||||
| Balance at end of year | $ | 2,033 | $ | 2,093 | $ | 2,215 | |||||
| Deferred Tax Assets - Valuation Allowance | |||||||||||
| Balance at beginning of year | $ | 1,302 | $ | 1,262 | $ | 1,225 | |||||
| Additions charged to expenses | 201 | 313 | 140 | ||||||||
| Deductions from reserves | (112) | (273) | (103) | ||||||||
| Balance at end of year | $ | 1,391 | $ | 1,302 | $ | 1,262 |
1.In 2019, additions charged to expenses for "Accounts Receivable - Allowance for Doubtful Receivables" included $2 million and additions charged to expenses for "Reserves for Other Investments and Noncurrent Receivables" included $1,753 million related to the Company's investment in Sadara Chemical Company ("Sadara"). See Note 12 to the Consolidated Financial Statements for additional information.
2.Deductions included write-offs, recoveries, currency translation adjustments and other miscellaneous items.
3.Deductions included disposals and currency translation adjustments.
4.Deductions from reserves for "Reserves for Other Investments and Noncurrent Receivables" included $77 million in 2021 and 2020 related to the Company's investment in Sadara. See Note 12 to the Consolidated Financial Statements for additional information.
| Dow Inc. and Subsidiaries The Dow Chemical Company and Subsidiaries | ||||||||||||||
| Signatures |
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized, on February 4, 2022.
| DOW INC. | ||
| THE DOW CHEMICAL COMPANY | ||
| /s/ RONALD C. EDMONDS | ||
| Ronald C. Edmonds, Controller and Vice President of Controllers and Tax (Authorized Signatory and Principal Accounting Officer) |
Pursuant to the requirements of the Securities Exchange Act of 1934, this Annual Report on Form 10-K has been signed below on February 4, 2022 by the following persons on behalf of the registrant and in the capacities indicated.
| /s/ SAMUEL R. ALLEN | /s/ JIM FITTERLING | |||||||
| Samuel R. Allen, Director, Dow Inc. | Jim Fitterling, Director, Chairman and Chief Executive Officer, Dow Inc. and TDCC (Principal Executive Officer) | |||||||
| /s/ GAURDIE BANISTER JR. | /s/ JACQUELINE C. HINMAN | |||||||
| Gaurdie Banister Jr., Director, Dow Inc. | Jacqueline C. Hinman, Director, Dow Inc. | |||||||
| /s/ WESLEY G. BUSH | /s/ LUIS ALBERTO MORENO MEJIA | |||||||
| Wesley G. Bush, Director, Dow Inc. | Luis Alberto Moreno Mejia, Director, Dow Inc. | |||||||
| /s/ RICHARD K. DAVIS | /s/ HOWARD UNGERLEIDER | |||||||
| Richard K. Davis, Lead Director, Dow Inc. | Howard Ungerleider, President and Chief Financial Officer, Dow Inc. and TDCC; Director, TDCC (Principal Financial Officer) | |||||||
| /s/ DEBRA L. DIAL | /s/ JILL S. WYANT | |||||||
| Debra L. Dial, Director, Dow Inc. | Jill S. Wyant, Director, Dow Inc. | |||||||
| /s/ RONALD C. EDMONDS | /s/ DANIEL W. YOHANNES | |||||||
| Ronald C. Edmonds, Controller and Vice President of Controllers and Tax, Dow Inc. and TDCC (Authorized Signatory and Principal Accounting Officer) | Daniel W. Yohannes, Director, Dow Inc. | |||||||
| /s/ JEFF M. FETTIG | ||||||||
| Jeff M. Fettig, Director, Dow Inc. | ||||||||
| Dow Inc. and Subsidiaries The Dow Chemical Company and Subsidiaries | ||
| Trademark Listing |
The following trademarks or service marks of The Dow Chemical Company and certain affiliated companies of Dow appear in this report: ACOUSTICRYL, ACRYSOL, ACUSOL, AMPLIFY, AQUASET, AVANSE, CARBOWAX, DOW, DOWANOL, DOWSIL, DOWTHERM, ECOFAST, ELITE, EVOQUE, FASTRACK, FORMASHIELD, INFUSE, MAINCOTE, NORDEL, OPULUX, PRIMAL, RENUVA, RHOBARR, RHOPLEX, ROBOND, SENTRY, SILASTIC, SPECFLEX, SUNSPHERES, SURLYN, SYL-OFF, SYNTEGRA, TAMOL, TERGITOL, TRITON, UCAR, UCARE, UCON, VERSENE, WALOCEL
The following registered service mark of American Chemistry Council in the United States appears in this report:
Responsible Care®
The following registered trademark of Disability:IN appears in this report: Disability Equality Index®
The following trademark of Everbridge appears in this report: Critical Event Management (CEM) Certification™ Program
The following trademarks and registered trademarks of Great Place to Work® Institute, Inc. appears in this report: Great Place to Work®, Fortune 100 Best Companies to Work For®, Best Workplaces™, PEOPLE Companies that Care®, Best Workplaces in Manufacturing & Production™
The following registered trademark of InspereX Holdings LLC appears in this report: InterNotes®
® ™ Trademark of The Dow Chemical Company ("TDCC") or an affiliated company, except as otherwise specified.
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