Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

A class of 10 million shares of preferred stock, without par value, is authorized but unissued. Common stock has a par value of $1.66  ²/₃ per share; 1.2 billion shares are authorized.

On April 16, 2015, the PPG Board of Directors approved a 2-for-1 split of the Company’s common stock for all shareholders. The record date for the split was the close of business on May 11, 2015 and the additional shares were distributed on June 12, 2015. Each shareholder as of the date of record received one additional share of common stock for each share held. Historical per share and share data (except for shares on the balance sheet) in this Form 10-K give retroactive effect to the stock split. These reclassifications had no impact on our previously reported net income, total assets, cash flows or shareholders’ equity. Historical share and per share data (except for shares on the balance sheet) give retroactive effect to the 2-for-1 stock split.

The following table summarizes the shares outstanding for the three years ended December 31, 2015:

	Common Stock	Treasury Stock		Shares Outstanding
Balance, Jan. 1, 2013	581,146,136	(274,013,542	)	307,132,594
Increase in treasury stock due to separation and merger transaction (Note 2)	—	(21,650,454	)	(21,650,454	)
Purchases	—	(11,491,058	)	(11,491,058	)
Issuances	—	3,301,682		3,301,682
Balance, Dec. 31, 2013	581,146,136	(303,853,372	)	277,292,764
Purchases	—	(7,626,382	)	(7,626,382	)
Issuances	—	2,298,184		2,298,184
Balance, Dec. 31, 2014	581,146,136	(309,181,570	)	271,964,566
Purchases	—	(6,992,772	)	(6,992,772	)
Issuances	—	1,904,215		1,904,215
Balance, Dec. 31, 2015	581,146,136	(314,270,127	)	266,876,009

Per share cash dividends paid were $1.41 in 2015, $1.31 in 2014 and $1.21 in 2013.