Sherwin-Williams Financial and Demographic Overview
Regulation G Reconciliation
Adjusted EBITDA
SHERWIN-WILLIAMS.
($ in millions)
Net income from continuing operations
Interest expense
Income taxes
2014
2015
2016
2017
2018
2019
865.9 $
1,053.8 $
1,132.7 $
1,769.5 $
1,108.7 $
1,541.3
64.2
61.8
154.1
263.5
366.7
349.3
392.3
495.2
462.5
(300.2)
251.0
440.5
Depreciation
169.1
170.3
172.1
285.0
278.2
262.1
Amortization
29.9
EBITDA from continuing operations
$
1,521.4 $
28.2
1,809.3 $
25.4
206.8
318.1
312.8
1,946.8 $
2,224.6 $
2,322.7 $
2,906.0
Trademark impairment
Brazil indirect tax credit
California litigation expense
122.1
(50.8)
136.3
(34.7)
Domestic pension plan settlement
37.6
32.4
Environmental expense provision
167.6
Transaction and integration costs (1)
Inventory accounting change
Adjusted EBITDA
60.6
139.0
157.7
81.8
58.9
1,521.4 $
1,809.3 $
2,007.4 $
2,422.5 $
2,821.9 $
3,056.8
(1) Transaction and integration costs consist primarily of professional service expenses, salaries and other employee-related expenses dedicated directly to the integration effort, and
severance expense. These costs are included in Selling, general and administrative and other expenses and Cost of goods sold.
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