RELATED PARTY TRANSACTIONS (Notes)

12 Months Ended

Dec. 31, 2021

Effective with the separation from DowDuPont on April 1, 2019, TDCC became a wholly owned subsidiary of Dow Inc. and reported transactions with Dow Inc. as related party transactions. From the Merger Date through March 31, 2019, TDCC reported transactions with DowDuPont and Historical DuPont and its affiliates as related party transactions.

TDCC

TDCC has committed to fund Dow Inc.'s dividends paid to common stockholders and share repurchases, as approved by Dow Inc.'s Board from time to time, as well as certain governance expenses. Funding is accomplished through intercompany loans. TDCC's Board reviews and determines a dividend distribution to Dow Inc. to settle the intercompany loans. The following table summarizes cash dividends TDCC declared and paid to Dow Inc. for the years ended 2021, 2020 and 2019.


TDCC Cash Dividends Declared and Paid	2021		2020		2019
In millions	2021		2020		2019
Cash dividends declared and paid	$	3,264	$	2,233	$	201

At December 31, 2021 and 2020, TDCC's intercompany loan balance with Dow Inc. was insignificant.

DowDuPont

Pursuant to the Agreement and Plan of Merger, dated as of December 11, 2015, as amended on March 31, 2017, and prior to the separation from DowDuPont, TDCC committed to fund a portion of DowDuPont's dividends paid to common stockholders and certain governance expenses. In 2019, TDCC declared and paid dividends to DowDuPont of $535 million.

Historical DuPont and its Affiliates

Prior to the separation from DowDuPont, TDCC sold to and procured from Historical DuPont and its affiliates certain raw materials that were consumed in each company's manufacturing process. The following table presents revenue earned and expenses incurred related to transactions with Historical DuPont and its affiliates:


Sales to Historical DuPont and its Affiliates	2019
In millions	2019
Net sales	$	12
Cost of sales	$	9

Purchases from Historical DuPont and its affiliates were insignificant for 2019.