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RESTRUCTURING AND ASSET RELATED CHARGES - NET (Notes) | 6 Months Ended
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Jun. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure [Text Block] | RESTRUCTURING AND ASSET RELATED CHARGES - NET Charges for restructuring programs and other asset related charges, which includes asset impairments, are recorded in "Restructuring and asset related charges - net" in the consolidated statements of income. For additional information on the Company's restructuring programs, see Note 6 to the Consolidated Financial Statements included in the 2021 10-K. 2020 Restructuring Program Actions related to the restructuring program approved by the Board of Dow Inc. on September 29, 2020 ("2020 Restructuring Program") were substantially complete at the end of 2021, with the exception of certain cash payments that will continue through 2022 and into 2023. The following table summarizes the activities related to the 2020 Restructuring Program since January 1, 2021:
2020 Restructuring Program | Severance and Related Benefit Costs | Asset Write-downs and Write-offs | Costs Associated with Exit and Disposal Activities | Total
In millions
Reserve balance at Jan 1, 2021 | $ | 289 |  | $ | — |  | $ | 75 |  | $ | 364 |
Cash payments | (37) |  | — |  | (12) |  | (49) |
Reserve balance at Mar 31, 2021 | $ | 252 |  | $ | — |  | $ | 63 |  | $ | 315 |
Packaging & Specialty Plastics | $ | — |  | $ | — |  | $ | 8 |  | $ | 8 |
Industrial Intermediates & Infrastructure | — |  | 1 |  | — |  | 1 |
Performance Materials & Coatings | — |  | 8 |  | 2 |  | 10 |
Corporate | — |  | 3 |  | — |  | 3 |
Total restructuring charges | $ | — |  | $ | 12 |  | $ | 10 |  | $ | 22 |
Charges against the reserve | — |  | (12) |  | — |  | (12) |
Cash payments | (53) |  | — |  | (3) |  | (56) |
Reserve balance at Jun 30, 2021 | $ | 199 |  | $ | — |  | $ | 70 |  | $ | 269 |
Cash payments | (55) |  | — |  | (2) |  | (57) |
Reserve balance at Sep 30, 2021 | $ | 144 |  | $ | — |  | $ | 68 |  | $ | 212 |
Restructuring charges - Corporate | $ | (10) |  | $ | — |  | $ | — |  | $ | (10) |
Cash payments | (30) |  | — |  | (4) |  | (34) |
Reserve balance at Dec 31, 2021 | $ | 104 |  | $ | — |  | $ | 64 |  | $ | 168 |
Cash payments | (59) |  | — |  | (1) |  | (60) |
Reserve balance at Mar 31, 2022 | $ | 45 |  | $ | — |  | $ | 63 |  | $ | 108 |
Cash payments | (8) |  | — |  | (2) |  | (10) |
Reserve balance at Jun 30, 2022 | $ | 37 |  | $ | — |  | $ | 61 |  | $ | 98 |
At June 30, 2022, $44 million of the reserve balance was included in "Accrued and other current liabilities" ($112 million at December 31, 2021) and $54 million was included in "Other noncurrent obligations" ($56 million at December 31, 2021) in the consolidated balance sheets. The Company recorded pretax restructuring charges of $585 million inception-to-date under the 2020 Restructuring Program, consisting of severance and related benefit costs of $287 million, asset write-downs and write-offs of $208 million and costs associated with exit and disposal activities of $90 million. The Company expects to incur additional costs in the future related to its restructuring activities. Future costs are expected to include demolition costs related to closed facilities and restructuring implementation costs; these costs will be recognized as incurred. The Company also expects to incur additional employee-related costs, including involuntary termination benefits, related to its other optimization activities. These costs cannot be reasonably estimated at this time. 2022 Asset Related Charges In the first quarter of 2022, the Company recorded pretax asset related charges of $186 million due to the Russia and Ukraine conflict and the expectation that certain assets will not be recoverable. These charges included the write-down of inventory, the recording of bad debt reserves and the impairment of other assets. Asset related charges by segment were as follows: $31 million in Packaging & Specialty Plastics, $109 million in Industrial Intermediates & Infrastructure, $16 million in Performance Materials & Coatings and $30 million in Corporate.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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