This paper proposes an image formation model that jointly combines dichromatic and intrinsic image decomposition models. The two decomposition models analyze image formation process from a different perspective, and they can be combined synergistically. It is confirmed that the proposed method performs better than the individual decomposition. The joint estimation and the study of the decomposition order ('intrinsic + dichromatic' or 'dichromatic + intrinsic') are the first attempt to the best of our knowledge. It was confirmed that the proposed 'intrinsic + dichromatic' is more optimal through experimental evaluations. We also exploit the temporal property of AC light sources, which can further improve the decomposition performance. The experimental results show that the proposed model can make an accurate image decomposition and achieve a remarkable color constancy performance.INDEX TERMS Intrinsic image decomposition, dichromatic model, color constancy, AC light, high-speed video.