Why Invest in SHW?
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 $ 3,322.4 $
3,388.4
$
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%
415.2 $
12.5%
314.2
9.3%
$
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
25.6
Impairment
5.1
15.5
117.0
Total other adjustments
$
$
5.1 $
$
$
41.1
$
$
117.0 $
22.2
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
76.2
215.8
82.8 $
76.2
$
215.8 $
215.5
215.5 $
213.1
211.2
200.1
213.1 $
211.2 $
200.1
Segment Profit (Adjusted)
$
% of sales (as adjusted)
372.0 $
13.6%
469.5 $
17.5%
670.1 $
21.9%
498.0 $
15.0%
431.5
$
667.9 $
711.6 $
713.2 $
697.4 $
957.2
12.7%
12.9%
14.1%
14.5%
11.6%
14.1%
*Note: Consumer Brands Group 2018-2020 not restated to reflect realignment of Latin America architectural business to Consumer Brands Group
(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. 32View entire presentation