2023 Investor Presentation
Adjustments to Segment Profit
GAAP to Adjusted Pre-Tax Income by Segment
Consumer Brands Group
($ in millions)
2018
2019
2020
2021
2022
2018
2019
Performance Coatings Group
2020
2021
2022
Net external sales
$
2,739.1 $
2,676.8 $
3,053.4 $
2,721.6 $ 2,690.7
$
5,166.4 $
5,049.2 $
4,922.4 $
6,003.8 $
6,793.5
Segment profit (as reported)
$
% of sales (as reported)
261.1 $
9.5%
373.2 $
13.9%
579.6 $
19.0%
358.4 $
13.2%
225.7
8.4%
$
452.1 $
8.8%
379.1 $
7.5%
500.1 $
10.2%
486.2 $
8.1%
734.9
10.8%
Other adjustments
Severance and other
22.2
Impairment
Total other adjustments
25.6
5.1
15.5
$
$
5.1 $
$
$
41.1
$
$
117.0
117.0 $
$
$
22.2
Acquisition-related costs
Acquisition-related amortization
(1)
110.9
Total acquistion-related costs
$
110.9 $
91.2
91.2 $
90.5
90.5 $
82.8
82.8 $
76.2
76.2
$
215.8
215.8 $
215.5
215.5
$
213.1
213.1 $
211.2
211.2 $
200.1
200.1
Segment Profit (Adjusted)
$
% of sales (as adjusted)
372.0 $
13.6%
469.5 $
17.5%
670.1 $
21.9%
441.2 $
16.2%
343.0
$
12.7%
667.9 $
12.9%
711.6 $
14.1%
713.2 $
14.5%
697.4
11.6%
$
957.2
14.1%
(1) Acquisition-related amortization expense consists primarily of the amortization of intangible assets related to the Valspar acquisition and is included in Amortization.
SHERWIN-WILLIAMS. 33View entire presentation