NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of Short-term Debt [Table Text Block]

Notes Payable In millions	Jun 30, 2016			Dec 31, 2015
Notes payable to banks and other lenders	$	197		$	277
Notes payable to related companies	32			171
Notes payable trade	6			6
Total notes payable	$	235		$	454
Period-end average interest rates	5.14		%	4.00		%

Schedule of Long-term Debt Instruments [Table Text Block]

Long-Term Debt In millions	2016 Average Rate		Jun 30, 2016			2015 Average Rate		Dec 31, 2015
Promissory notes and debentures:
Final maturity 2016	9.80	%	$	3		2.64	%	$	356
Final maturity 2017	6.06	%	442			6.06	%	442
Final maturity 2018	5.78	%	339			5.78	%	339
Final maturity 2019	8.55	%	2,123			8.55	%	2,123
Final maturity 2020	4.46	%	1,547			4.46	%	1,547
Final maturity 2021	4.72	%	1,424			4.72	%	1,424
Final maturity 2022 and thereafter	5.54	%	8,448			5.54	%	8,448
Other facilities:
U.S. dollar loans, various rates and maturities	1.30	%	4,610			2.32	%	125
Foreign currency loans, various rates and maturities	3.42	%	999			2.74	%	856
Medium-term notes, varying maturities through 2025	3.76	%	1,080			3.79	%	1,082
Tax-exempt bonds, varying maturities through 2038	5.66	%	343			5.66	%	343
Capital lease obligations	—		144			—		76
Unamortized debt discount and issuance costs	—		(391		)	—		(405		)
Long-term debt due within one year (1)	—		(259		)	—		(541		)
Long-term debt	—		$	20,852		—		$	16,215

(1) Presented net of current portion of unamortized debt issuance costs of $16 million at June 30, 2016 and $9 million at December 31, 2015.

Schedule of Maturities of Long-term Debt [Table Text Block]

Annual Installments on Long-Term Debt For Next Five Years at June 30, 2016 In millions
2016	$	138
2017	$	655
2018	$	5,256
2019	$	2,388
2020	$	1,769
2021	$	1,518

Schedule of Line of Credit Facilities [Table Text Block]

The following table summarizes the Company's credit facilities:

Committed and Available Credit Facilities at June 30, 2016
In millions	Effective Date	Committed Credit		Credit Available		Maturity Date	Interest
Five Year Competitive Advance and Revolving Credit Facility ("Revolving Credit Facility")	March 2015	$	5,000	$	5,000	March 2020	Floating rate
Bilateral Revolving Credit Facility	August 2015	100		100		March 2017	Floating rate
Bilateral Revolving Credit Facility	August 2015	100		100		March 2020	Floating rate
Bilateral Revolving Credit Facility	August 2015	280		280		March 2020	Floating rate
Bilateral Revolving Credit Facility	August 2015	100		100		March 2020	Floating rate
Bilateral Revolving Credit Facility	August 2015	100		100		March 2020	Floating rate
Bilateral Revolving Credit Facility	August 2015	200		200		March 2020	Floating rate
Bilateral Revolving Credit Facility	August 2015	100		100		August 2016	Floating rate
Bilateral Revolving Credit Facility	May 2016	200		200		May 2018	Floating rate
DCC Term Loan Facility (1)	February 2016	4,500		—		May 2018	Floating rate
Total Committed and Available Credit Facilities		$	10,680	$	6,180

(1) Drawn on May 31, 2016, by Dow Corning, a wholly owned subsidiary of the Company as of June 1, 2016.

In connection with the DCC Transaction, on May 31, 2016, Dow Corning incurred $4.5 billion of indebtedness under a certain third party credit agreement ("DCC Term Loan Facility") in order to fund the contribution of cash to Splitco. Subsequent to the DCC Transaction, the Company guaranteed the obligations of Dow Corning under the DCC Term Loan Facility and, as a result, the covenants and events of default applicable to the DCC Term Loan Facility are substantially similar to the covenants and events of default set forth in the Company's Revolving Credit Facility. Amounts borrowed under the DCC Term Loan Facility are repayable on May 30, 2017, subject to a 364-day extension option, at Dow Corning's election, upon the satisfaction of certain customary conditions precedent. Dow Corning intends to exercise the 364-day extension option on the DCC Term Loan Facility. See Note 4 for additional information on the DCC Transaction.

On July 20, 2016, the Company entered into an additional $200 million Bilateral Revolving Credit Facility agreement, which has a maturity date in July 2018 and provides for interest at floating rates, as defined in the agreement.