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Condensed Consolidated Statement of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Net sales $ 4,095 $ 3,528 $ 7,426 $ 6,861
Cost of sales, exclusive of depreciation and amortization 2,343 2,066 4,290 4,012
Selling, general and administrative 981 792 1,778 1,615
Depreciation 90 76 171 155
Amortization (Note 7) 34 26 60 55
Research and development 124 113 239 223
Interest expense 47 50 100 101
Interest income (9) (9) (19) (19)
Business restructuring (Note 8) 0 0 0 208
Asbestos settlement – net (Note 20) 3 3 6 6
Other charges (Note 20) 23 16 48 186
Other earnings (30) (31) (54) (60)
Income before income taxes 489 426 807 379
Income tax expense (Note 12) 118 98 182 67
Income from continuing operations 371 328 625 312
Income from discontinued operations, net of income taxes (Note 5) 0 68 2,191 135
Net income attributable to the controlling and noncontrolling interests 371 396 2,816 447
Less: Net income attributable to noncontrolling interests (30) (34) (65) (72)
Net income (attributable to PPG) 341 362 2,751 375
Income from continuing operations, net of tax 341 297 560 247
Income from discontinued operations, net of tax (Note 5) $ 0 $ 65 $ 2,191 $ 128
Income from continuing operations, net of tax $ 2.38 $ 1.94 $ 3.86 $ 1.61
Income from discontinued operations, net of tax $ 0.00 $ 0.43 $ 15.11 $ 0.84
Net income (attributable to PPG) $ 2.38 $ 2.37 $ 18.97 $ 2.45
Income from continuing operations, net of tax $ 2.35 $ 1.92 $ 3.82 $ 1.60
Income from discontinued operations, net of tax $ 0.00 $ 0.42 $ 14.94 $ 0.82
Net income (attributable to PPG) $ 2.35 $ 2.34 $ 18.76 $ 2.42
Dividends per common share $ 0.61 $ 0.59 $ 1.20 $ 1.16