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VARIABLE INTEREST ENTITIES
3 Months Ended
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES
A summary of Historical Dow and Historical DuPont's variable interest entities ("VIEs") can be found in Note 23 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Historical DuPont did not hold a variable interest in any joint ventures at March 31, 2019, for which it is the primary beneficiary. In addition, the maximum exposure to loss related to the nonconsolidated VIEs for which Historical DuPont did hold a variable interest at March 31, 2019, is not considered material to the consolidated financial statements. The following discussion addresses variable interests held by Historical Dow.

Assets and Liabilities of Consolidated VIEs
The Company's consolidated financial statements include the assets, liabilities and results of operations of VIEs for which Historical Dow is the primary beneficiary. The other equity holders’ interests are reflected in "Net income attributable to noncontrolling interests" in the consolidated statements of income and "Noncontrolling interests" in the consolidated balance sheets.

The following table summarizes the carrying amounts of these entities’ assets and liabilities included in the Company’s consolidated balance sheets at March 31, 2019 and December 31, 2018:

Assets and Liabilities of Consolidated VIEs
Mar 31, 2019
Dec 31, 2018
In millions
Cash and cash equivalents
$
109

$
82

Other current assets
116

114

Net property
718

734

Other noncurrent assets
60

45

Total assets 1
$
1,003

$
975

Current liabilities
$
318

$
334

Long-term debt
43

75

Other noncurrent obligations
46

31

Total liabilities 2
$
407

$
440

1.
All assets were restricted at March 31, 2019 and December 31, 2018.
2.
All liabilities were nonrecourse at March 31, 2019 and December 31, 2018.

Amounts presented in the consolidated balance sheets and the preceding table as restricted assets or nonrecourse obligations relating to consolidated VIEs at March 31, 2019 and December 31, 2018, are adjusted for intercompany eliminations and parental guarantees.

Nonconsolidated VIEs
The following table summarizes the carrying amounts of assets and liabilities included in the consolidated balance sheets at March 31, 2019 and December 31, 2018, related to variable interests in joint ventures or entities for which Historical Dow is not the primary beneficiary. The Company's maximum exposure to loss is the same as the carrying amounts, unless otherwise noted below.

Carrying Amounts of Assets and Liabilities Related to Nonconsolidated VIEs
 
Mar 31,
2019
Dec 31,
2018
In millions
Description of asset or liability
Hemlock Semiconductor L.L.C.
Equity method investment 1
$
(658
)
$
(495
)
Silicon joint ventures
Equity method investments 2
$
96

$
100

AgroFresh Solutions, Inc.
Equity method investment 2
$
45

$
48

Other receivable 3
$
8

$
8

1.
Classified as "Other noncurrent obligations" in the consolidated balance sheets. The Company's maximum exposure to loss was zero at March 31, 2019 (zero at December 31, 2018).
2.
Classified as "Investment in nonconsolidated affiliates" in the consolidated balance sheets.
3.
Classified as "Accounts and notes receivable - Other" in the consolidated balance sheets.