Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (unaudited)

Quarterly Financial Information (unaudited) (As Restated)

	2017 Quarter Ended										Full Year 2017(1)
($ in millions, except per share amounts)	March 31		June 30			September 30			December 31
Net sales		$3,486		$3,804			$3,776			$3,682		$14,748
Cost of sales(2)	1,905		2,082			2,101			2,119		8,207
Net income (loss) attributable to PPG
Continuing operations		$331		$497			$393			$148		$1,369
Discontinued operations	6		(1		)	217			3		225
Net income		$337		$496			$610			$151		$1,594
Earnings per common share
Continuing operations		$1.29		$1.93			$1.53			$0.59		$5.34
Discontinued operations	0.02		—			0.85			0.01		0.88
Earnings per common share		$1.31		$1.93			$2.38			$0.60		$6.22
Earnings per common share - assuming dilution
Continuing operations		$1.28		$1.92			$1.52			$0.58		$5.31
Discontinued operations	0.02		—			0.84			0.01		0.87
Earnings per common share – assuming dilution		$1.30		$1.92			$2.36			$0.59		$6.18
	2016 Quarter Ended										Full Year 2016(1)
($ in millions except per share amounts)	March 31		June 30			September 30			December 31
Net sales		$3,411		$3,782			$3,660			$3,417		$14,270
Cost of sales(2)	1,817		1,988			1,978			1,910		7,693
Net income (loss) attributable to PPG
Continuing operations		$328		$339			($211	)		$87		$543
Discontinued operations	19		31			27			253		330
Net income (loss)		$347		$370			($184	)		$340		$873
Earnings (loss) per common share
Continuing operations		$1.23		$1.26			($0.79	)		$0.34		$2.05
Discontinued operations	0.07		0.12			0.10			0.96		1.24
Earnings (loss) per common share		$1.30		$1.38			($0.69	)		$1.30		$3.29
Earnings (loss) per common share - assuming dilution
Continuing operations		$1.22		$1.25			($0.79	)		$0.33		$2.04
Discontinued operations	0.07		0.12			0.10			0.96		1.23
Earnings (loss) per common share – assuming dilution		$1.29		$1.37			($0.69	)		$1.29		$3.27

(1) Full year earnings-per-share was calculated using the full year weighted average shares outstanding. As such, the sum of the quarters may not equal the total earnings-per-share for the year.

(2) Exclusive of depreciation and amortization.

Consolidated Statement of Income (unaudited) - Summary of Restatement

	Three Months Ended March 31, 2017
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Net sales		$3,486			$—		(a)		$3,486
Selling, general and administrative	888			(6		)	(c)	882
Other charges	14			—			(h)	14
Income from continuing operations before income taxes		$440			$6				$446
Income tax expense	107			3			(j)	110
Income from continuing operations		$333			$3				$336
Income from discontinued operations, net of tax	6			—				6
Net income attributable to the controlling and noncontrolling interests		$339			$3				$342
Less: Net income attributable to noncontrolling interests	(5		)	—				(5		)
Net income (attributable to PPG)		$334			$3				$337
Amounts attributable to PPG:
Income from continuing operations, net of tax		$328			$3				$331
Income from discontinued operations, net of tax	6			—				6
Net income (attributable to PPG)		$334			$3				$337
Earnings per common share:
Income from continuing operations, net of tax		$1.28			$0.01				$1.29
Income from discontinued operations, net of tax	0.02			—				0.02
Net income (attributable to PPG)		$1.30			$0.01				$1.31
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$1.27			$0.01				$1.28
Income from discontinued operations, net of tax	0.02			—				0.02
Net income (attributable to PPG)		$1.29			$0.01				$1.30
Dividends per common share		$0.40			$—				$0.40

	September 30, 2017
($ in millions)	As Previously Reported		Restatement Adjustment			Reference	As Restated
Assets
Deferred income taxes		$421		$1		(j)		$422
Total		$17,615		$1				$17,616
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable and accrued liabilities		$3,895		$5		(a),(e),(f),(j)		$3,900
Total current liabilities		$4,618		$5				$4,623
Accrued pensions	758		1			(i)	759
Other liabilities	928		—			(h)	928
Total liabilities		$11,605		$6				$11,611
Shareholders’ equity
Retained earnings	17,106		(5		)		17,101
Total PPG shareholders’ equity		$5,902		($5	)			$5,897
Noncontrolling interests	108						108
Total shareholders’ equity		$6,010		($5	)			$6,005
Total		$17,615		$1				$17,616

The net sales and income from discontinued operations related to the former Glass reportable business segment for the three and six months ended June 30, 2017 and 2016 were as follows:

	Three Months Ended June 30				Six Months Ended June 30
($ in millions)	2017		2016		2017		2016
	As Restated				As Restated
Net sales		$84		$282		$167		$543
Income from operations		$12		$43		$21		$71
Income tax expense	4		12		8		21
Income from discontinued operations, net of tax		$8		$31		$13		$50

The net sales and income from discontinued operations related to the former Glass reportable business segment for the three and nine months ended September 30, 2017 and 2016 were as follows:

	Three Months Ended September 30				Nine Months Ended September 30
($ in millions)	2017		2016		2017		2016
					As Restated
Net sales		$50		$285		$217		$828
Income from operations		$5		$38		$26		$109
Net gain on divestiture of North American fiber glass business	343		—		343		—
Income tax expense	131		11		139		32
Income from discontinued operations, net of tax		$217		$27		$230		$77

Stock-based compensation and the income tax benefit recognized during the three months ended March 31, 2017 were as follows:

	Three Months Ended March 31
($ in millions)	2017		2016
	As Restated
Stock-based compensation		$9		$10
Income tax benefit recognized		$3		$4

Stock-based compensation and the income tax benefit recognized during the three and six months ended June 30, 2017 and 2016 were as follows:

	Three Months Ended June 30				Six Months Ended June 30
($ in millions)	2017		2016		2017		2016
					As Restated
Stock-based compensation		$8		$16		$17		$26
Income tax benefit recognized		$2		$5		$5		$9

Stock-based compensation and the income tax benefit recognized during the three and nine months ended September 30, 2017 and 2016 were as follows:

	Three Months Ended September 30				Nine Months Ended September 30
($ in millions)	2017		2016		2017		2016
					As Restated
Stock-based compensation		$9		$11		$26		$37
Income tax benefit recognized		$4		$3		$9		$12

Changes to shareholders’ equity for the three months ended March 31, 2017 were as follows:

($ in millions)	Total PPG Shareholders’ Equity			Non- controlling Interests			Total
Balance, January 1, 2017		$4,828			$87			$4,915
Net income	337			5			342
Other comprehensive income, net of tax	280			7			287
Cash dividends	(103		)	—			(103		)
Issuance of treasury stock	34			—			34
Stock repurchase program	(163		)	—			(163		)
Stock-based compensation activity	(21		)	—			(21		)
Other	—			(5		)	(5		)
Balance, March 31, 2017		$5,192			$94			$5,286

Changes to shareholders’ equity for the six months ended June 30, 2017 were as follows:

($ in millions)	Total PPG Shareholders’ Equity			Non- controlling Interests			Total
Balance, January 1, 2017		$4,828			$87			$4,915
Net income	833			10			843
Other comprehensive income, net of tax	297			13			310
Cash dividends	(205		)	—			(205		)
Issuance of treasury stock	49			—			49
Stock repurchase program	(163		)	—			(163		)
Stock-based compensation activity	(16		)	—			(16		)
Other	—			(5		)	(5		)
Balance, June 30, 2017		$5,623			$105			$5,728

Changes to shareholders’ equity for the nine months ended September 30, 2017 were as follows:

($ in millions)	Total PPG Shareholders’ Equity			Non-controlling Interests			Total
January 1, 2017		$4,828			$87			$4,915
Net income	1,443			16			1,459
Other comprehensive income, net of tax	293			15			308
Cash dividends	(321		)	—			(321		)
Issuance of treasury stock	75			—			75
Stock repurchase program	(413		)	—			(413		)
Stock-based compensation activity	(8		)	—			(8		)
Dividends paid on subsidiary common stock to noncontrolling interests	—			(5		)	(5		)
Other	—			(5		)	(5		)
September 30, 2017		$5,897			$108			$6,005

Quarterly Reportable Business Segment Information (As Restated)

	Three Months Ended March 31
($ in millions)	2017			2016
	As Restated
Net sales:
Performance Coatings		$2,017			$2,039
Industrial Coatings	1,469			1,372
Total		$3,486			$3,411
Segment income:
Performance Coatings		$284			$279
Industrial Coatings	273			265
Total		$557			$544
Corporate	(56		)	(63		)
Interest expense, net of interest income	(21		)	(24		)
Legacy items (a)	(8		)	(11		)
Pension settlement charge	(22		)	—
Transaction-related costs (b)	(4		)	(2		)
Income from continuing operations before income taxes		$446			$444

	Three Months Ended June 30						Six Months Ended June 30
($ in millions)	2017			2016			2017			2016
	As Restated						As Restated
Net sales:
Performance Coatings		$2,299			$2,338			$4,316			$4,377
Industrial Coatings	1,505			1,444			2,974			2,816
Total		$3,804			$3,782			$7,290			$7,193
Segment income:
Performance Coatings		$409			$428			$693			$707
Industrial Coatings	264			292			537			557
Total		$673			$720			$1,230			$1,264
Corporate	(32		)	(60		)	(88		)	(123		)
Interest expense, net of interest income	(22		)	(24		)	(43		)	(48		)
Legacy items (a)	2			(10		)	(6		)	(21		)
Asset write-down	—			(10		)	—			(10		)
Gain from the sale of an equity affiliate	—			20			—			20
Pension settlement charge	—			—			(22		)	—
Gain from sale of a business	25			—			25			—
Income from a legal settlement	18			—			18			—
Transaction-related costs (b)	(5		)	(6		)	(9		)	(8		)
Income from continuing operations before income taxes		$659			$630			$1,105			$1,074

	Three Months Ended September 30						Nine Months Ended September 30
($ in millions)	2017			2016			2017			2016
	As Restated						As Restated
Net sales:
Performance Coatings		$2,290			$2,223		$	6,606			$6,600
Industrial Coatings	1,486			1,437			4,460			4,253
Total		$3,776			$3,660			$11,066			$10,853
Segment income:
Performance Coatings		$366			$368			$1,059			$1,075
Industrial Coatings	223			249			760			806
Total		$589			$617			$1,819			$1,881
Corporate	(45		)	(43		)	(133		)	(166		)
Interest expense, net of interest income	(22		)	(28		)	(65		)	(76		)
Legacy items (a)	1			(4		)	(5		)	(25		)
Asset write-down	—			—			—			(10		)
Gain from the sale of an equity affiliate	—			—			—			20
Pension settlement charge	—			(968		)	(22		)	(968		)
Gain from sale of a business	—			—			25			—
Income from a legal settlement	—			—			18			—
Transaction-related costs (b)	—			—			(9		)	(8		)
Income (loss) from continuing operations before income taxes		$523			($426	)		$1,628			$648

(a) Legacy items include current costs related to former operations of the Company, including pension and other postretirement benefit costs, certain charges for legal matters and environmental remediation costs, and certain other charges which are not associated with PPG's current business portfolio.

(b) Transaction-related costs include advisory, legal, accounting, valuation and other professional or consulting fees incurred to effect significant acquisitions, as well as similar fees and other costs to effect disposals not classified as discontinued operations. These costs may also include the flow-through cost of sales for the step up to fair value of inventories acquired in acquisitions. These costs also include certain severance costs and charges associated with the Company's recent business portfolio transformation.

Condensed Income Statement

Quarterly Condensed Consolidated Statement of Income (unaudited) (As Restated)

	2017
	March 31			June 30			September 30			December 31
	As Restated			As Restated			As Restated			As Restated
Net sales		$3,486			$3,804			$3,776			$3,682
Cost of sales, exclusive of depreciation and amortization	1,905			2,082			2,101			2,119
Selling, general and administrative	882			872			902			908
Depreciation	79			81			85			86
Amortization	31			32			32			34
Research and development, net	110			113			114			116
Interest expense	25			26			27			27
Interest income	(4		)	(4		)	(5		)	(7		)
Pension settlement charge	22			—			—			38
Other charges	14			12			13			25
Other income	(24		)	(69		)	(16		)	(41		)
Income from continuing operations before income taxes		$446			$659			$523			$377
Income tax expense	110			157			124			224
Income from continuing operations		$336			$502			$399			$153
Income from discontinued operations, net of tax	6			(1		)	217			3
Net income attributable to the controlling and noncontrolling interests		$342			$501			$616			$156
Less: Net income attributable to noncontrolling interests	(5		)	(5		)	(6		)	(5		)
Net income (attributable to PPG)		$337			$496			$610			$151
Amounts attributable to PPG:
Income from continuing operations, net of tax		$331			$497			$393			$148
Income (loss) from discontinued operations, net of tax	6			(1		)	217			3
Net income (attributable to PPG)		$337			$496			$610			$151
Earnings per common share:
Income from continuing operations, net of tax		$1.29			$1.93			$1.53			$0.59
Income (loss) from discontinued operations, net of tax	0.02			—			0.85			0.01
Net income (attributable to PPG)		$1.31			$1.93			$2.38			$0.60
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$1.28			$1.92			$1.52			$0.58
Income (loss) from discontinued operations, net of tax	0.02			—			0.84			0.01
Net income (attributable to PPG)		$1.30			$1.92			$2.36			$0.59
Dividends per common share		$0.40			$0.40			$0.45			$0.45

Condensed Consolidated Statement of Income (unaudited) (As Restated)

	Six Months Ended June 30, 2017			Nine Months Ended September 30, 2017
	As Restated			As Restated
Net sales		$7,290			$11,066
Cost of sales, exclusive of depreciation and amortization	3,987			6,088
Selling, general and administrative	1,754			2,656
Depreciation	160			245
Amortization	63			95
Research and development, net	223			337
Interest expense	51			78
Interest income	(8		)	(13		)
Pension settlement charge	22			22
Other charges	26			39
Other income	(93		)	(109		)
Income from continuing operations before income taxes	1,105			1,628
Income tax expense	267			391
Income from continuing operations	838			1,237
Income from discontinued operations, net of tax	5			222
Net income attributable to the controlling and noncontrolling interests	843			1,459
Less: Net income attributable to noncontrolling interests	10			16
Net income (attributable to PPG)		$833			$1,443
Amounts attributable to PPG:
Income from continuing operations, net of tax		$828			$1,221
Income from discontinued operations, net of tax	5			222
Net income (attributable to PPG)		$833			$1,443
Earnings per common share:
Income from continuing operations, net of tax		$3.22			$4.75
Income from discontinued operations, net of tax	0.02			0.86
Net income (attributable to PPG)		$3.24			$5.61
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$3.19			$4.72
Income from discontinued operations, net of tax	0.02			0.86
Net income (attributable to PPG)		$3.21			$5.58
Dividends per common share		$0.80			$1.25

Quarterly Condensed Consolidated Statement of Income (Unaudited)

	2016
	March 31			June 30			September 30			December 31
										As Restated
Net sales		$3,411			$3,782			$3,660			$3,417
Cost of sales, exclusive of depreciation and amortization	1,817			1,988			1,978			1,910
Selling, general and administrative	897			930			893			868
Depreciation	79			79			82			79
Amortization	30			30			31			30
Research and development, net	114			115			115			115
Interest expense	31			31			34			29
Interest income	(7		)	(7		)	(6		)	(6		)
Pension settlement charge	—			—			968			—
Business restructuring	—			—			—			191
Asbestos settlement, net	3			2			—			—
Other charges	17			29			12			117
Other income	(14		)	(45		)	(21		)	(47		)
Income (loss) from continuing operations before income taxes		$444			$630			($426	)		$131
Income tax expense (benefit)	109			285			(220		)	40
Income (loss) from continuing operations		$335			$345			($206	)		$91
Income from discontinued operations, net of tax	19			31			27			253
Net income (loss) attributable to the controlling and noncontrolling interests		$354			$376			($179	)		$344
Less: Net income attributable to noncontrolling interests	(7		)	(6		)	(5		)	(4		)
Net income (loss) (attributable to PPG)		$347			$370			($184	)		$340
Amounts attributable to PPG:
Income (loss) from continuing operations, net of tax		$328			$339			($211	)		$87
Income from discontinued operations, net of tax	19			31			27			253
Net income (loss) (attributable to PPG)		$347			$370			($184	)		$340
Earnings per common share:
Income (loss) from continuing operations, net of tax		$1.23			$1.26			($0.79	)		$0.34
Income from discontinued operations, net of tax	0.07			0.12			0.10			0.96
Net income (loss) (attributable to PPG)		$1.30			$1.38			($0.69	)		$1.30
Earnings per common share – assuming dilution:
Income (loss) from continuing operations, net of tax		$1.22			$1.25			($0.79	)		$0.33
Income from discontinued operations, net of tax	0.07			0.12			0.10			0.96
Net income (loss) (attributable to PPG)		$1.29			$1.37			($0.69	)		$1.29
Dividends per common share		$0.36			$0.40			$0.40			$0.40

Condensed Consolidated Statement of Income (unaudited) - Summary of Restatement

	Three Months Ended June 30, 2017
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Net sales		$3,806			($2	)	(a)		$3,804
Selling, general and administrative	865			7			(e),(f),(g)	872
Other income	(72		)	3			(b)	(69		)
Income from continuing operations before income taxes		$671			($12	)			$659
Income tax expense	162			(5		)	(j)	157
Income from continuing operations		$509			($7	)			$502
Loss from discontinued operations, net of tax	(3		)	2			(b)	(1		)
Net income attributable to the controlling and noncontrolling interests		$506			($5	)			$501
Less: Net income attributable to noncontrolling interests	(5		)	—				(5		)
Net income (attributable to PPG)		$501			($5	)			$496
Amounts attributable to PPG:
Income from continuing operations, net of tax		$504			($7	)			$497
Loss from discontinued operations, net of tax	(3		)	2				(1		)
Net income (attributable to PPG)		$501			($5	)			$496
Earnings per common share:
Income from continuing operations, net of tax		$1.96			($0.03	)			$1.93
Loss from discontinued operations, net of tax	(0.01		)	0.01				—
Net income (attributable to PPG)		$1.95			($0.02	)			$1.93
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$1.95			($0.03	)			$1.92
Loss from discontinued operations, net of tax	(0.01		)	0.01				—
Net income (attributable to PPG)		$1.94			($0.02	)			$1.92
Dividends per common share		$0.40			$—				$0.40

Quarterly Condensed Consolidated Statement of Income (unaudited) - Summary of Restatement

	Six Months Ended June 30, 2017
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Net sales		$7,292			($2	)	(a)		$7,290
Selling, general and administrative	1,753			1			(c),(e),(f),(g)	1,754
Other charges	26			—			(h)	26
Other income	(96		)	3			(b)	(93		)
Income from continuing operations before income taxes	1,111			$	(6	)		1,105
Income tax expense	269			(2		)	(j)	267
Income from continuing operations	842			$	(4	)		838
Income from discontinued operations, net of tax	3			2			(b)	5
Net income attributable to the controlling and noncontrolling interests		$845			($2	)			$843
Less: Net income attributable to noncontrolling interests	(10		)	—				(10		)
Net income (attributable to PPG)		$835			($2	)			$833
Amounts attributable to PPG:
Income from continuing operations, net of tax		$832			($4	)			$828
Income from discontinued operations, net of tax	3			2				5
Net income (attributable to PPG)		$835			($2	)			$833
Earnings per common share:
Income from continuing operations, net of tax		$3.23			($0.01	)			$3.22
Income from discontinued operations, net of tax	0.01			0.01				0.02
Net income (attributable to PPG)		$3.24			$—				$3.24
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$3.21			($0.02	)			$3.19
Income from discontinued operations, net of tax	0.01			0.01				0.02
Net income (attributable to PPG)		$3.22			($0.01	)			$3.21
Dividends per common share		$0.80			$—				$0.80

Quarterly Condensed Consolidated Statement of Income (unaudited) - Summary of Restatement

	Three Months Ended September 30, 2017
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Cost of sales, exclusive of depreciation and amortization	2,100			1			(i)	2,101
Selling, general and administrative	905			(3		)	(e),(f),(g)	902
Income from continuing operations before income taxes		$521			$2				$523
Income tax expense	123			1			(j)	124
Income from continuing operations		$398			$1				$399
Income from discontinued operations, net of tax	217			—				217
Net income attributable to the controlling and noncontrolling interests		$615			$1				$616
Less: Net income attributable to noncontrolling interests	(6		)	—				(6		)
Net income (attributable to PPG)		$609			$1				$610
Amounts attributable to PPG:
Income from continuing operations, net of tax		$392			$1				$393
Income from discontinued operations, net of tax	217			—				217
Net income (attributable to PPG)		$609			$1				$610
Earnings per common share:
Income from continuing operations, net of tax		$1.53			$—				$1.53
Income from discontinued operations, net of tax	0.85			—				0.85
Net income (attributable to PPG)		$2.38			$—				$2.38
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$1.52			$—				$1.52
Income from discontinued operations, net of tax	0.84			—				0.84
Net income (attributable to PPG)		$2.36			$—				$2.36
Dividends per common share		$0.45			$—				$0.45

	Nine Months Ended September 30, 2017
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Net sales		$11,068			($2	)	(a)		$11,066
Cost of sales, exclusive of depreciation and amortization	6,087			1			(i)	6,088
Selling, general and administrative	2,658			(2		)	(c),(e),(f)	2,656
Other charges	39			—			(h)	39
Other income	(112		)	3			(b)	(109		)
Income from continuing operations before income taxes		$1,632			($4	)			$1,628
Income tax expense	392			(1		)	(j)	391
Income from continuing operations		$1,240			($3	)			$1,237
Income from discontinued operations, net of tax	220			2			(b)	222
Net income attributable to the controlling and noncontrolling interests		$1,460			($1	)			$1,459
Less: Net income attributable to noncontrolling interests	(16		)	—				(16		)
Net income (attributable to PPG)		$1,444			($1	)			$1,443
Amounts attributable to PPG:
Income from continuing operations, net of tax		$1,224			($3	)			$1,221
Income from discontinued operations, net of tax	220			2				222
Net income (attributable to PPG)		$1,444			($1	)			$1,443
Earnings per common share:
Income from continuing operations, net of tax		$4.76			($0.01	)			$4.75
Income from discontinued operations, net of tax	0.86			—				0.86
Net income (attributable to PPG)		$5.62			($0.01	)			$5.61
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$4.73			($0.01	)			$4.72
Income from discontinued operations, net of tax	0.85			0.01				0.86
Net income (attributable to PPG)		$5.58			$—				$5.58
Dividends per common share		$1.25			$—				$1.25

	Three Months Ended December 31, 2017
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Cost of sales, exclusive of depreciation and amortization		$2,117			$2		(b),(i)		$2,119
Selling, general and administrative	912			(4		)	(e),(f)	908
Other income	(42		)	1			(b)	(41		)
Income from continuing operations before income taxes		$376			$1				$377
Income tax expense	224			—			(j)	224
Income from continuing operations		$152			$1				$153
Income from discontinued operations, net of tax	—			3			(b)	3
Net income attributable to the controlling and noncontrolling interests		$152			$4				$156
Less: Net income attributable to noncontrolling interests	(5		)	—				(5		)
Net income (attributable to PPG)		$147			$4				$151
Amounts attributable to PPG:
Income from continuing operations, net of tax		$147			$1				$148
Income from discontinued operations, net of tax	—			3				3
Net income (attributable to PPG)		$147			$4				$151
Earnings per common share:
Income from continuing operations, net of tax		$0.58			$0.01				$0.59
Income from discontinued operations, net of tax	—			0.01				0.01
Net income (attributable to PPG)		$0.58			$0.02				$0.60
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$0.58			$—				$0.58
Income from discontinued operations, net of tax	—			0.01				0.01
Net income (attributable to PPG)		$0.58			$0.01				$0.59
Dividends per common share		$0.45			$—				$0.45

	Three Months Ended December 31, 2016
	As Previously Reported			Restatement Adjustment			Reference	As Restated
Selling, general and administrative		$861			$7		(c)		$868
Business restructuring	195			(4		)	(d)	191
Other income	(51		)	4			(d)	(47		)
Income from continuing operations before income taxes		$138			($7	)			$131
Income tax expense	43			(3		)	(j)	40
Income from continuing operations		$95			($4	)			$91
Income from discontinued operations, net of tax	253			—				253
Net income attributable to the controlling and noncontrolling interests		$348			($4	)			$344
Less: Net income attributable to noncontrolling interests	(4		)	—				(4		)
Net income (attributable to PPG)		$344			($4	)			$340
Amounts attributable to PPG:
Income from continuing operations, net of tax		$91			($4	)			$87
Income from discontinued operations, net of tax	253			—				253
Net income (attributable to PPG)		$344			($4	)			$340
Earnings per common share:
Income from continuing operations, net of tax		$0.35			($0.01	)			$0.34
Income from discontinued operations, net of tax	0.96			—				0.96
Net income (attributable to PPG)		$1.31			($0.01	)			$1.30
Earnings per common share – assuming dilution:
Income from continuing operations, net of tax		$0.34			($0.01	)			$0.33
Income from discontinued operations, net of tax	0.96			—				0.96
Net income (attributable to PPG)		$1.30			($0.01	)			$1.29
Dividends per common share		$0.40			$—				$0.40

Condensed Statement of Comprehensive Income

Quarterly Condensed Consolidated Statement of Comprehensive Income (unaudited) (As Restated)

		2017 Quarter Ended
($ in millions)		March 31			June 30			September 30
Net income attributable to the controlling and noncontrolling interests			$342			$501			$616
	Defined benefit pension and other postretirement benefit adjustments	21			(55		)	(29		)
	Unrealized foreign currency translation gains/(losses)	279			82			26
	Unrealized (losses)/gains – derivative financial instruments	(13		)	(4		)	1
Other comprehensive income/(loss), net of tax		287			23			(2		)
Total comprehensive income			$629			$524			$614
Less: amounts attributable to noncontrolling interests:
	Net income	(5		)	(5		)	(6		)
	Unrealized foreign currency translation losses	(7		)	(6		)	(2		)
Comprehensive income attributable to PPG			$617			$513			$606

($ in millions)		Six Months Ended June 30, 2017			Nine Months Ended September 30, 2017
Net income attributable to the controlling and noncontrolling interests			$843			$1,459
	Defined benefit pension and other postretirement benefit adjustments	(34		)	(63		)
	Unrealized foreign currency translation losses	361			387
	Unrealized losses – derivative financial instruments	(17		)	(16		)
Other comprehensive income, net of tax		310			308
Total comprehensive income			$1,153			$1,767
Less: amounts attributable to noncontrolling interests:
	Net income	(10		)	(16		)
	Unrealized foreign currency translation losses	(13		)	(15		)
Comprehensive income attributable to PPG			$1,130			$1,736

Condensed Balance Sheet

Quarterly Condensed Consolidated Balance Sheets (unaudited) (As Restated)

	2017
($ in millions)	March 31			June 30			September 30			December 31
Assets
Current assets
Cash and cash equivalents		$1,349			$1,569			$2,287			$1,436
Short-term investments	40			48			41			55
Receivables	3,013			3,191			3,155			2,903
Inventories	1,699			1,766			1,805			1,730
Assets held for sale	223			177			—			—
Other	439			390			350			353
Total current assets		$6,763			$7,141			$7,638			$6,477
Property, plant and equipment, net	2,659			2,710			2,730			2,824
Goodwill	3,720			3,845			3,881			3,942
Identifiable intangible assets, net	2,080			2,118			2,099			2,045
Deferred income taxes	170			321			422			305
Investments	175			256			261			268
Other assets	587			582			585			677
Total		$16,154			$16,973			$17,616			$16,538
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable and accrued liabilities		$3,517			$3,656			$3,900			$3,781
Restructuring reserves	95			115			107			102
Short-term debt and current portion of long-term debt	604			619			616			12
Liabilities held for sale	69			54			—			—
Total current liabilities		$4,285			$4,444			$4,623			$3,895
Long-term debt	3,817			3,998			4,089			4,134
Accrued pensions	712			748			759			729
Other postretirement benefits	720			755			767			699
Deferred income taxes	400			390			445			442
Other liabilities	934			910			928			967
Total liabilities		$10,868			$11,245			$11,611			$10,866
Commitments and contingent liabilities
Shareholders’ equity
Common stock		$969			$969			$969			$969
Additional paid-in capital	711			723			745			756
Retained earnings	16,214			16,606			17,101			17,140
Treasury stock, at cost	(10,626		)	(10,616		)	(10,855		)	(11,251		)
Accumulated other comprehensive loss	(2,076		)	(2,059		)	(2,063		)	(2,057		)
Total PPG shareholders’ equity		$5,192			$5,623			$5,897			$5,557
Noncontrolling interests	94			105			108			115
Total shareholders’ equity		$5,286			$5,728			$6,005			$5,672
Total		$16,154			$16,973			$17,616			$16,538

Condensed Cash Flow Statement

Quarterly Condensed Consolidated Statement of Cash Flows (unaudited) (As Restated)

		2017 Year to Date
($ in millions)		March 31			June 30			September 30			December 31
Operating activities
Net income attributable to the controlling and noncontrolling interests			$342			$843			$1,459			$1,615
	Less: Income from discontinued operations	6			5			222			225
Income from continuing operations			$336			$838			$1,237			$1,390
Adjustments to reconcile to cash from operations:
	Depreciation and amortization	110			223			340			460
	Defined benefit pension expense	18			34			52			65
	Pension settlement charge	22			22			22			60
	Stock-based compensation expense	9			17			26			35
	Net gain, from sale of businesses	—			(25		)	(25		)	(25		)
	Equity affiliate (income)/loss, net of dividends	(1		)	3			—			(4		)
	Deferred income taxes	6			(40		)	(53		)	38
Contributions to pension plans		(34		)	(37		)	(43		)	(87		)
Restructuring payments		(10		)	(20		)	(31		)	(49		)
Change in certain asset and liability accounts (net of acquisitions):
	Receivables	(296		)	(406		)	(350		)	(76		)
	Inventories	(157		)	(185		)	(200		)	(116		)
	Other current assets	(47		)	(49		)	(40		)	(43		)
	Accounts payable and accrued liabilities	62			147			229			188
	Noncurrent assets and liabilities, net	39			(14		)	(102		)	(170		)
	Taxes and interest payable	(82		)	(128		)	(115		)	(129		)
Other		24			52			71			14
	Cash (used for)/from operating activities - continuing operations		($1	)		$432			$1,018		1,551
	Cash from operating activities - discontinued operations	10			14			14			17
	Cash from operating activities		$9			$446			$1,032			$1,568
Investing activities
Capital expenditures			($63	)		($135	)		($207	)		($360	)
Business acquisitions, net of cash balances acquired		(61		)	(62		)	(69		)	(225		)
Payments for acquisition of equity investment		—			(100		)	(100		)	(100		)
Net proceeds from the sale of businesses		—			52			593			593
Purchase of short-term investments		—			—			—			(1		)
Payments for the settlement of cross currency swap contracts		(34		)	(34		)	(34		)	(34		)
Proceeds from the settlement of cross currency swap contracts		19			19			37			37
Other		2			2			—			27
	Cash (used for)/from investing activities - continuing operations		($137	)		($258	)		$220			($63	)
	Cash used for investing activities - discontinued operations	(1		)	(3		)	(4		)	(4		)
	Cash (used for)/from investing activities		($138	)		($261	)		$216			($67	)
Financing activities
Net change in borrowings with maturities of three months or less			($7	)		($3	)		($6	)		($7	)
Net payments on commercial paper and short-term debt		(32		)	(61		)	(81		)	(93		)
Repayment of long-term debt		(7		)	(8		)	(9		)	(588		)
Payments related to tax withholding on stock-based compensation awards		(16		)	(20		)	(25		)	(28		)
Purchase of treasury stock		(163		)	(163		)	(413		)	(813		)
Issuance of treasury stock		9			20			45			52
Dividends paid on PPG common stock		(103		)	(205		)	(321		)	(434		)
Other		(53		)	(50		)	(41		)	(43		)
	Cash used for financing activities		($372	)		($490	)		($851	)		($1,954	)
Effect of currency exchange rate changes on cash and cash equivalents		30			54			70			69
Net (decrease) increase in cash and cash equivalents			($471	)		($251	)		$467			($384	)
Cash and cash equivalents, beginning of year			$1,820			$1,820			$1,820			$1,820
Cash and cash equivalents, end of period			$1,349			$1,569			$2,287			$1,436
Supplemental disclosures of cash flow information:
Interest paid, net of amount capitalized			$23			$52			$60			$100
Taxes paid, net of refunds			$90			$326			$481			$648