Dow Chemical 2014 Annual Report Download - page 157

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133
Operating Segment Information
Agri-
cultural
Sciences
Consumer
Solutions
Infra-
stucture
Solutions
Perf
Materials
&
Chemicals
Perf
Plastics Corp TotalIn millions
2014
Sales to external customers $ 7,290 $ 4,639 $ 8,429 $ 15,114 $ 22,386 $ 309 $ 58,167
Intersegment revenues (1) — — — 100 — (100) —
Equity in earnings (losses) of nonconsolidated affiliates 4 281 (6) 322 257 (23) 835
Goodwill and other intangible asset impairment losses (2) —50————50
Restructuring charges (credits) (3) — — — (3) — — (3)
Asbestos-related charge (4) —————7878
EBITDA (5) 962 1,130 817 2,193 4,422 (580) 8,944
Total assets 7,292 9,629 12,245 12,179 13,459 13,992 68,796
Investment in nonconsolidated affiliates 83 691 922 698 705 1,102 4,201
Depreciation and amortization 208 396 510 780 759 94 2,747
Capital expenditures 383 114 269 315 2,490 1 3,572
2013
Sales to external customers $ 7,137 $ 4,562 $ 8,339 $ 14,824 $ 21,910 $ 308 $ 57,080
Intersegment revenues (1) — — — 137 — (137) —
Equity in earnings (losses) of nonconsolidated affiliates 5 107 126 480 355 (39) 1,034
Restructuring charges (credits) (3) — — (1) (15) (6) — (22)
EBITDA (5) 894 933 941 1,913 4,503 1,361 10,545
Total assets 7,059 10,171 12,844 12,085 13,788 13,554 69,501
Investment in nonconsolidated affiliates 88 541 1,178 827 772 1,095 4,501
Depreciation and amortization 189 414 528 743 707 100 2,681
Capital expenditures 319 105 198 409 1,271 — 2,302
2012
Sales to external customers $ 6,382 $ 4,518 $ 8,071 $ 14,981 $ 22,588 $ 246 $ 56,786
Intersegment revenues (1) — — — 150 — (150) —
Equity in earnings (losses) of nonconsolidated affiliates 1 87 58 362 130 (102) 536
Goodwill and other intangibles impairment losses (2) — — — 220 — — 220
Restructuring charges (credits) (3) — 136 61 299 33 814 1,343
EBITDA (5) 923 773 963 1,603 2,924 (1,595) 5,591
Total assets 6,368 10,597 13,104 13,164 13,560 12,812 69,605
Investment in nonconsolidated affiliates 86 422 1,081 790 744 998 4,121
Depreciation and amortization 176 416 542 783 672 109 2,698
Capital expenditures 321 244 292 759 951 47 2,614
(1) Includes revenues generated by transfers of product to Agricultural Sciences from other segments, generally at market-based prices. Other transfers
of products between operating segments are generally valued at cost.
(2) See Note 11 for information regarding intangible asset impairment losses and Note 9 for information regarding the goodwill impairment loss.
(3) See Note 3 for information regarding restructuring charges and credits.
(4) See Note 14 for information regarding the asbestos-related charge.
(5) A reconciliation of EBITDA to “Income Before Income Taxes” is provided below.
Reconciliation of EBITDA to “Income Before Income Taxes”
In millions 2014 2013 2012
EBITDA $ 8,944 $ 10,545 $ 5,591
- Depreciation and amortization 2,747 2,681 2,698
+ Interest income 51 41 41
- Interest expense and amortization of debt discount 983 1,101 1,269
Income Before Income Taxes $ 5,265 $ 6,804 $ 1,665