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Condensed Consolidated Statement of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Net sales $ 3,789 $ 3,725 $ 11,254 $ 11,214
Cost of sales, exclusive of depreciation and amortization 2,081 2,049 6,095 6,209
Selling, general and administrative 899 875 2,746 2,715
Depreciation 88 87 258 253
Amortization 31 33 91 99
Research and development, net 117 117 350 354
Interest expense 34 31 96 94
Interest income (6) (10) (20) (31)
Pension settlement charges 968 0 968 0
Business restructuring 0 0 0 140
Asbestos settlement, net 0 3 5 9
Other charges 13 21 66 71
Other income (23) (35) (88) (92)
(Loss) income from continuing operations before income taxes (413) 554 687 1,393
Income tax (benefit) expense (217) 133 182 333
(Loss) income from continuing operations (196) 421 505 1,060
Income from discontinued operations, net of tax (17) (18) (46) (49)
Net (loss) income attributable to the controlling and noncontrolling interests (179) 439 551 1,109
Less: Net income attributable to noncontrolling interests (5) (6) (18) (17)
Net (loss) income (attributable to PPG) (184) 433 533 1,092
(Loss) income from continuing operations, net of tax (201) 415 487 1,043
Income from discontinued operations, net of tax $ 17 $ 18 $ 46 $ 49
Income from continuing operations, net of tax (in usd per share) $ (0.75) $ 1.53 $ 1.83 $ 3.83
Income from discontinued operations, net of tax (in usd per share) 0.06 0.07 0.17 0.18
Net income (attributable to PPG) (in usd per share) (0.69) 1.60 2.00 4.01
Income from continuing operations, net of tax (in usd per share) (0.75) 1.52 1.81 3.80
Income from discontinued operations, net of tax (in usd per share) 0.06 0.07 0.17 0.18
Net income (attributable to PPG) (in usd per share) (0.69) 1.59 1.98 3.98
Dividends per common share (in usd per share) $ 0.40 $ 0.36 $ 1.16 $ 1.05