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NONCONSOLIDATED AFFILIATES (Notes) | 6 Months Ended
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Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
NONCONSOLIDATED AFFILIATES | NONCONSOLIDATED AFFILIATES For additional information on the Company’s nonconsolidated affiliates, see Note 12 to the Consolidated Financial Statements included in the 2021 10-K. The Company's investments in companies accounted for using the equity method ("nonconsolidated affiliates"), by classification in the consolidated balance sheets, and dividends received from nonconsolidated affiliates are shown in the following tables:
Investments in Nonconsolidated Affiliates | Jun 30, 2022 | Dec 31, 2021
In millions
Investment in nonconsolidated affiliates | $ | 1,862 |  | $ | 2,045 |
Other noncurrent obligations | (103) |  | — |
Net investment in nonconsolidated affiliates | $ | 1,759 |  | $ | 2,045 |
Dividends from Nonconsolidated Affiliates | Six Months Ended
In millions | Jun 30, 2022 1 | Jun 30, 2021 2
Dividends from nonconsolidated affiliates | $ | 736 |  | $ | 219 |
1.$658 million included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows and $78 million included in "Accounts and notes receivable - Other" in the consolidated balance sheets. 2.Included in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows. In the first half of 2022, EQUATE Petrochemical Company K.S.C.C. ("EQUATE") paid dividends of $397 million ($79 million in the first half of 2021), reflected in "Earnings of nonconsolidated affiliates less than (in excess of) dividends received" in the consolidated statements of cash flows. As a result, at June 30, 2022, the Company had a negative investment balance in EQUATE of $103 million included in "Other noncurrent obligations" (positive $115 million at December 31, 2021 included in "Investment in nonconsolidated affiliates") in the consolidated balance sheets.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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