Dow Chemical 2013 Annual Report Download - page 109
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87
The summarized financial information that follows represents the combined accounts (at 100 percent) of the principal
nonconsolidated affiliates.
Summarized Balance Sheet Information at December 31
In millions 2013 2012
Current assets $ 8,675 $ 8,841
Noncurrent assets 24,166 20,109
Total assets $ 32,841 $ 28,950
Current liabilities $ 5,972 $ 6,903
Noncurrent liabilities 17,129 12,788
Total liabilities $ 23,101 $ 19,691
Noncontrolling interests $ 624 $ 708
Summarized Income Statement Information
In millions 2013 (1) 2012 (1) 2011 (2)
Sales $ 18,257 $ 17,668 $ 16,396
Gross profit $ 3,403 $ 2,911 $ 4,176
Net income $ 1,906 $ 872 $ 2,470
(1) The summarized income statement information for 2013 and 2012 do not
include the results for Compañia Mega S.A. which is no longer considered a
principal nonconsolidated affiliate as of the fourth quarter of 2012.
(2) The summarized income statement information for 2011 does not include the
results for Map Ta Phut Olefins Company Limited and Sadara Chemical
Company as these entities became principal nonconsolidated affiliates in 2012.
The Company has service agreements with some of these entities, including contracts to manage the operations of
manufacturing sites and the construction of new facilities; licensing and technology agreements; and marketing, sales, purchase
and lease agreements.
Excess ethylene glycol produced in Dow’s plants in the United States and Europe is sold to MEGlobal and represented 1
percent of total net sales in 2013 (1 percent of total net sales in 2012 and 1 percent of total net sales in 2011). In addition, the
Company sells ethylene to MEGlobal as a raw material for its ethylene glycol plants in Canada. Sales of ethylene and ethylene
glycol to MEGlobal are reflected in the Feedstocks and Energy segment and represented 7 percent of the segment's sales in
2013 (4 percent in 2012 and 5 percent in 2011).