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Condensed Consolidated Statement of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Jun. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Net sales $ 3,980 $ 3,408 $ 11,406 $ 10,269
Cost of sales, exclusive of depreciation and amortization 2,238 1,983 6,528 5,995
Selling, general and administrative 964 779 2,742 2,394
Depreciation 91 78 262 233
Amortization (Note 7) 28 27 88 82
Research and development 123 112 362 335
Interest expense 48 54 148 155
Interest income (11) (10) (30) (29)
Restructuring provision (Note 8) 98 0 98 208
Asbestos settlement – net (Note 19) 3 3 9 9
Other charges (Note 19) 120 20 168 206
Other income (31) (40) (85) (100)
Income before income taxes 309 402 1,116 781
Income tax expense (Note 12) 60 92 242 159
Income from continuing operations 249 310 874 622
Income from discontinued operations, net of income taxes (Note 5) 6 54 2,197 189
Net income attributable to the controlling and noncontrolling interests 255 364 3,071 811
Less: Net income attributable to noncontrolling interests (29) (25) (94) (97)
Net income (attributable to PPG) 226 339 2,977 714
Income from continuing operations, net of tax 220 288 780 535
Income from discontinued operations, net of tax (Note 5) $ 6 $ 51 $ 2,197 $ 179
Income from continuing operations, net of tax $ 1.54 $ 1.88 $ 5.40 $ 3.49
Income from discontinued operations, net of tax $ 0.04 $ 0.33 $ 15.21 $ 1.17
Net income (attributable to PPG) $ 1.58 $ 2.21 $ 20.61 $ 4.66
Income from continuing operations, net of tax $ 1.52 $ 1.86 $ 5.34 $ 3.46
Income from discontinued operations, net of tax $ 0.04 $ 0.32 $ 15.05 $ 1.15
Net income (attributable to PPG) $ 1.56 $ 2.18 $ 20.39 $ 4.61
Dividends per common share $ 0.61 $ 0.59 $ 1.81 $ 1.75