Dow Chemical 2014 Annual Report Download - page 109
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85
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 2014 2013 (1)
Current assets $ 9,611 $ 8,675
Noncurrent assets 27,025 24,166
Total assets $ 36,636 $ 32,841
Current liabilities $ 6,321 $ 5,972
Noncurrent liabilities 21,047 17,129
Total liabilities $ 27,368 $ 23,101
Noncontrolling interests $ 666 $ 624
(1) The summarized balance sheet information for 2013 does not include the
results of The Kuwait Styrene Company K.S.C. as this entity became a
principal nonconsolidated affiliate in 2014.
Summarized Income Statement Information
In millions 2014 2013 (1) 2012 (1)
Sales $ 19,333 $ 18,257 $ 17,668
Gross profit $ 3,526 $ 3,403 $ 2,911
Net income $ 1,673 $ 1,906 $ 872
(1) The summarized income statement information for 2013 and 2012 does not
include the results of The Kuwait Styrene Company K.S.C. as this entity
became a principal nonconsolidated affiliate in 2014.
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.
The Company sells excess ethylene glycol produced at Dow's manufacturing facilities in the United States and Europe to
MEGlobal. The Company also sells ethylene to MEGlobal as a raw material for its ethylene glycol plants in Canada. Sales of
these products to MEGlobal represented 1 percent of total net sales in 2014 (1 percent of total net sales in 2013 and 1 percent of
total net sales in 2012). Sales of ethylene glycol to MEGlobal are reflected in the Performance Materials & Chemicals segment
and represented 2 percent of the segment's sales in 2014 (2 percent in 2013 and 2 percent in 2012). Sales of ethylene to
MEGlobal are reflected in the Performance Plastics segment and represented 1 percent of the segment's sales in 2014 (2 percent
in 2013 and 1 percent in 2012).