PPG Industries, Inc. (PPG) financial statements (2022 and earlier)

Company profile

Business Address ONE PPG PL 40 EAST
PITTSBURGH, PA 15272
State of Incorp. PA
Fiscal Year End December 31
SIC 2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,0721,9221,2739631,4911,863
Cash and cash equivalents1,0051,8261,2169021,4361,820
Short-term investments679657615543
Receivables3,1522,7262,7562,8452,9032,692
Inventory, net of allowances, customer advances and progress billings2,1711,7351,7101,7831,7301,546
Inventory2,1711,7351,7101,7831,7301,546
Assets held-for-sale, not part of disposal group     30
Other current assets379415431370353321
Total current assets:6,7746,7986,1705,9616,4776,452
Noncurrent Assets
Operating lease, right-of-use asset891847 
Property, plant and equipment3,4423,1272,9832,8052,8242,759
Long-term investments and receivables274267258251268179
Long-term investments274267258251268179
Intangible assets, net (including goodwill)9,0317,4536,6016,0425,9875,555
Goodwill6,2485,1024,4704,0703,9423,572
Intangible assets, net (excluding goodwill)2,7832,3512,1311,9722,0451,983
Deferred income tax assets197379 
Other noncurrent assets742685694727677670
Deferred tax assets, net 305 
Other undisclosed noncurrent assets  1,002229 154
Total noncurrent assets:14,57712,75811,53810,05410,0619,317
TOTAL ASSETS:21,35119,55617,70816,01516,53815,769
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4,3923,7923,4963,6233,7813,510
Accounts payable2,7342,2592,0982,1772,3211,940
Employee-related liabilities621590540504519571
Taxes payable36464611210093
Other undisclosed accounts payable and accrued liabilities1,001897812830841906
Debt957851365112629
Restructuring reserve17328119699102101
Accrued environmental loss contingencies979962   
Other undisclosed current liabilities9581108   
Total current liabilities:4,7664,8314,3754,3733,8954,240
Noncurrent Liabilities
Long-term debt and lease obligation, including:6,5755,3465,0424,3654,1343,787
Long-term debt, excluding current maturities6,5725,1714,5394,3654,1343,787
Other undisclosed long-term debt and lease obligation3175503   
Liabilities, other than long-term debt2,9093,0622,3172,1162,8372,829
Deferred tax liabilities, net 442417
Deferred income tax liabilities646435 
Liability, pension and other postretirement and postemployment benefits1,5061,6781,4061,2741,4281,471
Other liabilities757949911842967941
Other undisclosed noncurrent liabilities690502571429  
Total noncurrent liabilities:10,1748,9107,9306,9106,9716,616
Total liabilities:14,94013,74112,30511,28310,86610,856
Stockholders' equity
Stockholders' equity attributable to parent6,2865,6895,2844,6305,5574,826
Common stock969969969969969969
Treasury stock, value(13,386)(13,158)(13,191)(12,958)(11,251)(10,472)
Additional paid in capital1,0811,008950788756701
Accumulated other comprehensive loss(2,750)(2,599)(2,350)(2,300)(2,057)(2,356)
Retained earnings20,37219,46918,90618,13117,14015,984
Stockholders' equity attributable to noncontrolling interest12512611910211587
Total stockholders' equity:6,4115,8155,4034,7325,6724,913
TOTAL LIABILITIES AND EQUITY:21,35119,55617,70816,01516,53815,769

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues16,80213,83415,14615,37414,89814,927
Revenue, net14,74814,751
Cost of revenue
(Cost of Goods and Services Sold)
(10,286)(7,777)(8,653)   
Gross profit:6,5166,0576,49315,37414,89814,927
Operating expenses(5,005)(4,640)(4,828)(4,703)(4,517)(4,911)
Other operating expense, net
(Other Expenses)
(29)(104)(98)(122)(64)(178)
Other undisclosed operating loss    (8,024) 
Operating income:1,4821,3131,56710,5492,2939,838
Nonoperating income114781038887102
Investment income, nonoperating343040333141
Other nonoperating income804863555661
Interest and debt expense(121)(138)(132)(118)(105)(125)
Income from continuing operations before equity method investments, income taxes:1,4751,2531,53810,5192,2759,815
Income from equity method investments15811161212
Other undisclosed income (loss) from continuing operations before income taxes325101112(8,842)(282)(9,000)
Income from continuing operations before income taxes:1,8151,3621,6611,6932,005827
Income tax expense(374)(291)(392)(353)(615)(241)
Income from continuing operations:1,4411,0711,2691,3401,390586
Income from discontinued operations193 18225313
Net income:1,4601,0741,2691,3581,615899
Net loss attributable to noncontrolling interest(21)(15)(26)(17)(21)(22)
Net income available to common stockholders, diluted:1,4391,0591,2431,3411,594877

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:1,4601,0741,2691,3581,615899
Other comprehensive income (loss)(156)(249)(51)(147)316336
Comprehensive income:1,3048251,2181,2111,9311,235
Comprehensive loss, net of tax, attributable to noncontrolling interest(21)(15)(26)(17)(21)(22)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent5 111(17)10
Comprehensive income, net of tax, attributable to parent:1,2888101,1931,2051,8931,223

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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