Dow Chemical 2015 Annual Report Download - page 114
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104
Other Income Statement Information
In millions 2015 (1) 2014 2013
Provision for doubtful receivables (2) $ 1 $ 52 $ 59
(1) Dow's provision for doubtful accounts was lower in 2015 due to the adjustment of certain reserve rates
based on historical write-off experience, the impact of lower selling prices and the impact of divestitures.
(2) Included in “Selling, general and administrative expenses” in the consolidated statements of income.
Supplemental Disclosure of Cash Flow Information
In millions 2015 2014 2013
Cash payments for interest $ 1,137 $ 1,038 $ 1,191
Cash payments for income taxes $ 1,405 $ 1,109 $ 1,708
Accrued and Other Current Liabilities
“Accrued and other current liabilities” were $3,212 million at December 31, 2015 and $2,839 million at December 31, 2014.
Accrued payroll, which is a component of “Accrued and other current liabilities,” was $1,120 million at December 31, 2015
and $855 million at December 31, 2014. No other component of accrued liabilities was more than 5 percent of total current
liabilities.
Other Investments
The Company has investments in company-owned life insurance ("COLI") policies, which are recorded at their cash surrender
value as of each balance sheet date, as provided below:
Investments in Company-owned Life Insurance at December 31
In millions 2015 2014
Gross cash value $ 850 $ 869
Less: Outstanding borrowings 58 767
Investment in Company-owned life insurance (1) $ 792 $ 102
(1) Classified as "Other investments" in the consolidated balance sheets.
During the fourth quarter of 2015, the Company repaid $697 million of principal outstanding loan amounts plus accrued
interest, which is reflected in "Purchases of investments" in the consolidated statements of cash flows.