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Condensed Consolidated Statement of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net sales $ 3,806 $ 3,782 $ 7,292 $ 7,193
Cost of sales, exclusive of depreciation and amortization 2,082 1,988 3,987 3,805
Selling, general and administrative 865 930 1,753 1,827
Depreciation 81 79 160 158
Amortization 32 30 63 60
Research and development, net 113 115 223 229
Interest expense 26 31 51 62
Interest income (4) (7) (8) (14)
Pension settlement charge 0 0 22 0
Asbestos settlement, net 0 2 0 5
Other charges 12 29 26 46
Other income (72) (45) (96) (59)
Income from continuing operations before income taxes 671 630 1,111 1,074
Income tax expense 162 285 269 394
Income from continuing operations 509 345 842 680
(Loss)/Income from discontinued operations, net of tax (3) 31 3 50
Net income attributable to the controlling and noncontrolling interests 506 376 845 730
Less: Net income attributable to noncontrolling interests (5) (6) (10) (13)
Net income (attributable to PPG) 501 370 835 717
Income from continuing operations, net of tax 504 339 832 667
(Loss)/Income from discontinued operations, net of tax $ (3) $ 31 $ 3 $ 50
Income from continuing operations, net of tax (in usd per share) $ 1.96 $ 1.26 $ 3.23 $ 2.49
Income from discontinued operations, net of tax (in usd per share) (0.01) 0.12 0.01 0.19
Net income (attributable to PPG) (in usd per share) 1.95 1.38 3.24 2.68
Income from continuing operations, net of tax (in usd per share) 1.95 1.25 3.21 2.47
Income from discontinued operations, net of tax (in usd per share) (0.01) 0.12 0.01 0.19
Net income (attributable to PPG) (in usd per share) 1.94 1.37 3.22 2.66
Dividends per common share (in usd per share) $ 0.40 $ 0.40 $ 0.80 $ 0.76