NONCONSOLIDATED AFFILIATES

12 Months Ended

Dec. 31, 2012

Nonconsolidated Affiliates [Abstract]

Equity Method Investments Disclosure [Text Block]

NONCONSOLIDATED AFFILIATES

The Corporation's investments in companies accounted for by the equity method (“nonconsolidated affiliates”) were $106 million at December 31, 2012 and $132 million at December 31, 2011. Dividends received from nonconsolidated affiliates were $72 million in 2012, $73 million in 2011 and $41 million in 2010. Undistributed earnings of nonconsolidated affiliates included in retained earnings were $21 million at December 31, 2012 and $31 million at December 31, 2011.

All of the nonconsolidated affiliates in which the Corporation has investments are privately held companies; therefore, quoted market prices are not available.

Principal Nonconsolidated Affiliates

The Corporation's principal nonconsolidated affiliates and the Corporation's ownership interest for each at December 31, 2012, 2011 and 2010 are shown below:

Principal Nonconsolidated Affiliates at December 31	Ownership Interest
	2012	2011	2010
Nippon Unicar Company Limited	50%	50%	50%
Univation Technologies, LLC	50%	50%	50%

The Corporation's investment in the principal nonconsolidated affiliates was $97 million at December 31, 2012 and $122 million at December 31, 2011, and its equity in earnings was $59 million in 2012, $65 million in 2011 and $50 million in 2010. The summarized financial information presented below represents the combined accounts (at 100 percent) of the principal nonconsolidated affiliates. See Note 3 for details on the impairment charge related to Nippon Unicar Company Limited.

Summarized Balance Sheet Information at December 31
In millions	2012		2011
Current assets	$	311	$	396
Noncurrent assets	165		166
Total assets	$	476	$	562
Current liabilities	$	164	$	133
Noncurrent liabilities	86		121
Total liabilities	$	250	$	254

Summarized Income Statement Information
In millions	2012		2011		2010
Sales	$	773	$	715	$	655
Gross profit	$	209	$	244	$	180
Net income	$	112	$	145	$	122

Subsequent Event

On January 31, 2013, UCC entered into a definitive agreement to sell its 50 percent ownership interest in Nippon Unicar Company, Limited to TonenGeneral Sekiyu K. K. for $13 million. This sale is expected to close in the third quarter of 2013, pending receipt of all required regulatory approvals.