DIVESTITURES

12 Months Ended

Dec. 31, 2013

Divestitures [Abstract]

Divestitures [text block]

DIVESTITURES

Divestiture of Polypropylene Licensing and Catalysts Business

On October 11, 2013, Dow entered into a definitive agreement to sell its global Polypropylene Licensing and Catalysts business to W.R. Grace & Co., which included the Corporation's polypropylene catalysts manufacturing facility in Norco, Louisiana as well as customer contracts, accounts receivable, licenses, intellectual property and inventory. On December 2, 2013, the sale was completed and proceeds allocated to the Corporation for the sale were $398 million, net of working capital adjustments and costs to sell, with proceeds subject to customary post-closing adjustments to be finalized in subsequent periods. The carrying amount of the assets divested on December 2, 2013, are noted below:

Assets Divested In millions	December 2, 2013
Accounts receivable	$	4
Inventories	19
Net property	7
Total assets divested	$	30

The Corporation recognized a pretax gain of $368 million on the sale, included in "Sundry income (expense) - net" in the consolidated statements of operations and an after-tax gain of $233 million.

Divestiture of Polypropylene Business

On July 27, 2011, Dow entered into a definitive agreement to sell Dow's global Polypropylene business to Braskem SA. The definitive agreement specified the assets included in the sale, which included the following assets of the Corporation: polypropylene manufacturing facility at Seadrift, Texas; railcars; inventory; business know-how; and certain product and process technology. On September 30, 2011, the sale was completed. The Corporation received $19 million for the sale of its assets, net of working capital adjustments and costs to sell, with proceeds subject to customary post-closing adjustments. The carrying amount of the assets divested on September 30, 2011, are noted below:

Assets Divested In millions	September 30, 2011
Inventories	$	2
Net property	12
Total assets divested	$	14

The Corporation recognized a pretax gain of $5 million on the sale in the third quarter of 2011. Post-closing adjustments of $1 million in the fourth quarter of 2011 reduced the pretax gain to $4 million, which is included in "Sundry income (expense) - net" in the consolidated statements of operations.