NONCONSOLIDATED AFFILIATES

12 Months Ended

Dec. 31, 2013

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 $6 million at December 31, 2013 and $106 million at December 31, 2012. Dividends received from nonconsolidated affiliates were $62 million in 2013, $72 million in 2012 and $73 million in 2011. Undistributed earnings of nonconsolidated affiliates included in retained earnings were zero at December 31, 2013 and $21 million at December 31, 2012.

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, 2013, 2012 and 2011 are shown below:

Principal Nonconsolidated Affiliates at December 31	Ownership Interest
	2013	2012	2011
Nippon Unicar Company, Limited	—%	50%	50%
Univation Technologies, LLC	—%	50%	50%

The Corporation's investment in the principal nonconsolidated affiliates was zero at December 31, 2013 and $97 million at December 31, 2012, and its equity in earnings was $84 million in 2013, $59 million in 2012 and $65 million in 2011. The summarized financial information presented represents the combined accounts (at 100 percent) of the principal nonconsolidated affiliates. See Note 3 for details on the 2012 impairment charge related to Nippon Unicar Company, Limited.

Divestiture

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. On July 1, 2013, the sale was completed for $13 million. As a result of this share sale, the Corporation reclassified a $20 million gain, primarily attributable to cumulative translation adjustments, from "Accumulated other comprehensive loss" into earnings in the third quarter of 2013 and is included in "Sundry income (expense) - net" in the consolidated statements of operations for the year ended December 31, 2013. Including this reclassification, the sale resulted in no pretax gain or loss.

Stock Dividend

On September 26, 2013, UCC declared a stock dividend to Dow of its 100 percent ownership interest in Union Carbide Subsidiary C, Inc., which included UCC's full ownership interest in Univation Technologies, LLC. This stock dividend was effective on September 29, 2013 and totaled $70 million.

Summarized Balance Sheet Information at December 31
In millions	2013		2012
Current assets	$	—	$	311
Noncurrent assets	—		165
Total assets	$	—	$	476
Current liabilities	$	—	$	164
Noncurrent liabilities	—		86
Total liabilities	$	—	$	250

Summarized Income Statement Information
In millions	2013 (1)		2012		2011
Sales	$	452	$	773	$	715
Gross profit	$	208	$	209	$	244
Net income	$	142	$	112	$	145

(1) Income statement information for Nippon Unicar Company, Limited is for the six month period ended June 30, 2013 and income statement information for Univation Technologies, LLC is for the nine month period ended September 30, 2013.