For the year ending 2025-12-31, DOW had $1,689M increase in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Income (loss) before income taxes | -2,511 | - | - | - |
| Provision (credit) for income taxes | -67 | - | - | - |
| Net income (loss) | -2,444 | 1,201 | 660 | 4,640 |
| Depreciation and amortization | 2,834 | 2,894 | 2,611 | 2,758 |
| Provision (credit) for deferred income tax | -341 | 135 | -1,222 | 79 |
| Earnings of nonconsolidated affiliates less than (in excess of) dividends received | -439 | -348 | -387 | -696 |
| Net periodic pension benefit cost | -95 | -210 | 548 | 23 |
| Pension contributions | 209 | 121 | 142 | 235 |
| Net gain on sales of assets, businesses and investments | 220 | 65 | 70 | 19 |
| Restructuring, goodwill impairment and asset related charges - net | 1,856 | 103 | 528 | 118 |
| Other net loss | -440 | -239 | -796 | -212 |
| Accounts and notes receivable | -73 | 224 | -1,161 | -1,187 |
| Inventories | 52 | 529 | -844 | -347 |
| Accounts payable | -999 | 278 | -734 | -1,255 |
| Other assets and liabilities, net | 220 | 1,146 | 203 | 1,065 |
| Cash provided by (used for) operating activities - discontinued operations | -30 | 11 | 32 | - |
| Cash provided by (used for) operating activities | 1,032 | 2,914 | 5,196 | 7,475 |
| Capital expenditures | 2,479 | 2,940 | 2,356 | 1,823 |
| Proceeds from incentives related to capital expenditures | 145 | - | - | - |
| Cash flow hedging related to capital expenditures | 40 | - | - | - |
| Investment in gas field developments | 157 | 203 | 215 | 190 |
| Purchases of previously leased assets | 0 | 0 | 7 | 7 |
| Proceeds from sales of property and businesses, net of cash divested | 139 | 234 | 95 | 32 |
| Acquisitions of property and businesses, net of cash acquired | 0 | 125 | 114 | 228 |
| Investments in and loans to nonconsolidated affiliates | 32 | 28 | 5 | 148 |
| Distributions and loan repayments from nonconsolidated affiliates | 0 | 0 | 2 | 52 |
| Proceeds from sale of equity method investments | 125 | 0 | 63 | 11 |
| Purchases of investments | 881 | 1,809 | 2,288 | 1,366 |
| Proceeds from sales and maturities of investments | 1,022 | 2,536 | 1,958 | 747 |
| Other investing activities, net | -32 | 33 | 61 | 50 |
| Cash provided by (used for) investing activities | -2,126 | -2,368 | -2,928 | -2,970 |
| Changes in short-term notes payable | -5 | -61 | -249 | 253 |
| Proceeds from short-term debt, maturing in more than three months | 64 | 143 | 0 | 0 |
| Repayments of short-term debt, maturing in more than three months | 63 | 17 | 0 | 14 |
| Proceeds from issuance of long-term debt | 2,778 | 1,467 | 104 | 1,667 |
| Payments on long-term debt | 1,461 | 267 | 446 | 1,006 |
| Proceeds from accounts receivable securitization | - | - | 18 | - |
| Proceeds from (repayments of) accounts receivable securitization | -9 | -9 | - | - |
| Purchases of treasury stock | 0 | 494 | 625 | - |
| Proceeds from issuance of parent company stock | 85 | 166 | 188 | 212 |
| Transaction financing, debt issuance and other costs | 137 | 14 | 2 | 24 |
| Employee taxes paid for share-based payment arrangements | 18 | 39 | 42 | 35 |
| Distributions to noncontrolling interests | 173 | 77 | 89 | 83 |
| Proceeds from noncontrolling interests | 2,943 | - | - | - |
| Dividends paid to stockholders | 1,490 | 1,966 | 1,972 | 2,006 |
| Other financing activities, net | -6 | - | - | - |
| Cash used for financing activities | 2,508 | -1,168 | -3,115 | -3,361 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 275 | -163 | -45 | -237 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,689 | -785 | -892 | 907 |
| Cash and cash equivalents at beginning of period | 2,263 | 3,048 | 3,940 | 3,033 |
| Cash and cash equivalents at end of period | 3,952 | 2,263 | 3,048 | 3,940 |
DOW INC. (DOW)
DOW INC. (DOW)