Dow Chemical 2015 Annual Report Download - page 101
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91
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 2015 (1) 2014
Current assets $ 8,794 $ 9,611
Noncurrent assets 31,723 27,025
Total assets $ 40,517 $ 36,636
Current liabilities $ 9,850 $ 6,321
Noncurrent liabilities 21,461 21,047
Total liabilities $ 31,311 $ 27,368
Noncontrolling interests $ 663 $ 666
(1) The summarized balance sheet information for 2015 does not include
Univation; MEGlobal is included as part of EQUATE.
Summarized Income Statement Information
In millions 2015 (1) 2014 2013 (2)
Sales $ 15,468 $ 19,333 $ 18,257
Gross profit $ 3,206 $ 3,526 $ 3,403
Net income $ 1,343 $ 1,673 $ 1,906
(1) The summarized income statement information for 2015 includes the results of
Univation through April 30, 2015 and MEGlobal through November 30, 2015.
(2) The summarized income statement 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.
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, lease and sublease agreements.
The Company sells excess ethylene glycol produced at Dow's manufacturing facilities in the United States and Europe to
MEGlobal, an EQUATE subsidiary as of December 23, 2015. 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 2015 (1
percent of total net sales in 2014 and 1 percent of total net sales in 2013). Sales of ethylene glycol to MEGlobal are reflected in
the Performance Materials & Chemicals segment and represented 2 percent of the segment's sales in 2015 (2 percent in 2014
and 2 percent in 2013). Sales of ethylene to MEGlobal are reflected in the Performance Plastics segment and represented 1
percent of the segment's sales in 2015 (1 percent in 2014 and 2 percent in 2013).