NONCONTROLLING INTERESTS (Notes)

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest [Abstract]

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS

Ownership interests in the Company's subsidiaries held by parties other than the Company are presented separately from the Company's equity in the consolidated balance sheets as "Noncontrolling interests." The amount of consolidated net income attributable to the Company and the noncontrolling interests are both presented on the face of the consolidated statements of income.

The following table summarizes the activity for equity attributable to noncontrolling interests for the years ended December 31, 2021, 2020 and 2019:

Noncontrolling Interests
In millions	2021		2020		2019
Balance at Jan 1	$	570	$	553	$	1,138
Net income attributable to noncontrolling interests - continuing operations	94		69		74
Net income attributable to noncontrolling interests - discontinued operations	—		—		13
Distributions to noncontrolling interests 1	(66)		(55)		(77)
Impact of common control transaction 2	—		—		(353)
Purchase of noncontrolling interests 3	—		—		(254)
Deconsolidation of noncontrolling interests 4	—		(7)		—
Cumulative translation adjustments	(25)		9		12
Other	1		1		—
Balance at Dec 31	$	574	$	570	$	553

1.Distributions to noncontrolling interests are net of $7 million in 2021 ($7 million in 2020 and 2019) in dividends paid to a joint venture, which were reclassified to "Equity in earnings (losses) of nonconsolidated affiliates" in the consolidated statements of income. Also includes amounts attributable to discontinued operations of $7 million in 2019.

2.Related to the separation from DowDuPont. See Note 3 for additional information.

3.Related to the acquisition of full ownership in a propylene oxide manufacturing joint venture, which occurred on October 1, 2019. See Note 24 for additional information. As a result of this arrangement, the carrying value of the noncontrolling interest was removed, and “Additional paid-in capital” was adjusted by $38 million.

4.Related to the divestiture of the Company's interest in a cogeneration facility in Brazil in the third quarter of 2020.