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2016 PPG ANNUAL REPORT AND FORM 10-K
Five Year Digest
All amounts are in millions of dollars except per share data, percentages and number of employees
2016
2015
2014
2013
2012
Consolidated Statement of Income
Net sales
$ 14,751
$ 14,766 $ 14,791 $ 13,736 $ 12,169
Income before income taxes
827
1,783 1,346 1,204
813
Income tax expense
241
424
237
249
146
Net income from continuing operations (attributable to PPG)
564
1,338 1,085
932
649
Net income from discontinued operations (attributable to PPG)
313
68 1,017 2,299
292
Net income (attributable to PPG)
877
1,406 2,102 3,231
941
Return on average capital (%)
(1) †
7.0
15.8
13.9
14.2
14.9
Return on average equity (%)
†
11.3
27.4
19.5
22.0
26.3
Earnings per common share:
Continuing Operations
2.12
4.93
3.92
3.25
2.12
Discontinued Operations
1.18
0.25
3.68
8.01
0.95
Net income (attributable to PPG)
3.30
5.18
7.60 11.26
3.07
Weighted average common shares outstanding
265.6
271.4 276.6 286.8 306.8
Earnings per common share - assuming dilution:
Continuing Operations
2.11
4.89
3.88
3.22
2.09
Discontinued Operations
1.17
0.25
3.64
7.92
0.94
Net income (attributable to PPG)
3.28
5.14
7.52 11.14
3.03
Adjusted weighted average common shares outstanding
267.4
273.6 279.6 290.2 310.2
Dividends paid on PPG common stock
414
383
361
345
358
Per Share
1.56
1.41
1.31
1.21
1.17
Consolidated Balance Sheet
Current assets
$ 6,452
$ 6,712 $ 6,602 $ 6,956 $ 7,447
Current liabilities
4,240
4,695 4,928 4,174 4,503
Working capital
2,212
2,017 1,674 2,782 2,944
Property, plant and equipment (net)
2,759
2,822 2,895 2,666 2,681
Total assets
15,769
17,076 17,535 15,804 15,811
Long-term debt
3,787
4,026 3,516 3,339 3,332
Total PPG shareholders' equity
4,826
4,983 5,180 4,933 4,063
Per share
18.05
18.21 18.53 17.00 13.10
Other Data
Capital Spending
(2)
751
774 2,677 1,446
437
Depreciation expense
341
339
324
306
264
Amortization expense
121
132
126
119
107
Interest expense
125
125
187
195
208
Quoted market price
(4)
High
117.00
118.95 116.84 95.04 68.40
Low
88.37
82.93 85.78 64.10 41.64
Year end
94.76
98.82 115.58 94.83 67.68
Price/earnings ratio
(3)
High
55
24
30
30
33
Low
42
17
22
20
20
Average number of employees
†
47,000
46,600 44,400 41,400 39,200
(1) Return on average capital is calculated using pre-interest, after-tax earnings and average debt and equity during the year.
(2) Includes the cost of businesses acquired.
(3) Price/earnings ratios were calculated based on high and low market prices during the year and the respective year's earnings per common share.
(4) On April 16, 2015, the PPG Board of Directors approved a 2-for-1 split of the company's common stock. PPG common stock began trading on a split-
adjusted basis on June 15, 2015. All historical per share and share data give retroactive effect to the 2-for-1 stock split.
† From continuing operations, as originally reported.
Amounts in the table above have been recast to present the results of the flat glass, the former commodity chemicals, and PPG's former interest in Transitions
Optical and sunlens businesses as discontinued operations except where otherwise noted. Further, historical balance sheet information has been recast to reflect
the assets and liabilities of the flat glass business as held for sale, as well as the adoption of new Accounting Standards Updates in 2015.