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Condensed Consolidated Statement of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net sales $ 3,776 $ 3,660 $ 11,068 $ 10,853
Cost of sales, exclusive of depreciation and amortization 2,100 1,978 6,087 5,783
Selling, general and administrative 905 893 2,658 2,720
Depreciation 85 82 245 240
Amortization 32 31 95 91
Research and development, net 114 115 337 344
Interest expense 27 34 78 96
Interest income (5) (6) (13) (20)
Pension settlement charge 0 968 22 968
Asbestos settlement, net 0 0 0 5
Other charges 13 12 39 58
Other income (16) (21) (112) (80)
Income (loss) from continuing operations before income taxes 521 (426) 1,632 648
Income tax expense (benefit) 123 (220) 392 174
Income (loss) from continuing operations 398 (206) 1,240 474
Income from discontinued operations, net of tax 217 27 220 77
Net income (loss) attributable to the controlling and noncontrolling interests 615 (179) 1,460 551
Less: Net income attributable to noncontrolling interests (6) (5) (16) (18)
Net income (loss) (attributable to PPG) 609 (184) 1,444 533
Income (loss) from continuing operations, net of tax 392 (211) 1,224 456
Income from discontinued operations, net of tax $ 217 $ 27 $ 220 $ 77
Income from continuing operations, net of tax (in usd per share) $ 1.53 $ (0.79) $ 4.76 $ 1.71
Income from discontinued operations, net of tax (in usd per share) 0.85 0.10 0.86 0.29
Net income (attributable to PPG) (in usd per share) 2.38 (0.69) 5.62 2.00
Income from continuing operations, net of tax (in usd per share) 1.52 (0.79) 4.73 1.69
Income from discontinued operations, net of tax (in usd per share) 0.84 0.10 0.85 0.29
Net income (attributable to PPG) (in usd per share) 2.36 (0.69) 5.58 1.98
Dividends per common share (in usd per share) $ 0.45 $ 0.40 $ 1.25 $ 1.16