Related Parties (Notes)

6 Months Ended

Jun. 30, 2018

RELATED PARTIES

Services Provided by and to Dow and its affiliates

Following the Merger, DuPont reports transactions with Dow and its affiliates as related party transactions. The table below presents revenue earned and expenses incurred in transactions with Dow and its affiliates following the Merger. DuPont sells to and procures from Dow and its affiliates certain feedstocks and raw materials that are consumed in each company's manufacturing process, as well as finished goods.

For the three and six months ended June 30, 2018, purchases from Dow and its affiliates were $64 million and $107 million, respectively.

Transactions with DowDuPont

DowDuPont relies on distributions and other intercompany transfers from DuPont and Dow to fund payment of its costs and expenses. In November 2017, DowDuPont's Board of Directors authorized an initial $4,000 million share repurchase program to buy back shares of DowDuPont common stock. In February and May 2018, the Board declared first and second quarter dividends per share of DowDuPont common stock payable on March 15, 2018 and June 15, 2018, respectively. For the six months ended June 30, 2018, DuPont declared and paid distributions to DowDuPont of about $1,658 million, primarily to fund a portion of DowDuPont's first and second quarter share repurchases and dividend payments.

In addition, at June 30, 2018 and December 31, 2017, DuPont had a payable to DowDuPont of $391 million and $354 million, respectively, included in accounts payable in the Consolidated Balance Sheets related to its estimated 2017 and 2018 tax liability. See Note 9 for additional information.

(In millions)

Three Months Ended
June 30, 2018

Six Months Ended
June 30, 2018

Cost of goods sold