Reportable Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Reportable Business Segment Net Sales and Segment Income

Reportable business segment net sales and segment income for the three months ended March 31, 2025 and 2024 were as follows: 

	Three Months Ended March 31
($ in millions)	2025	2024
Global Architectural Coatings
Net sales to external customers	$857	$966
Cost of sales, exclusive of depreciation and amortization	429	458
Selling, general and administrative	274	301
Depreciation and amortization	26	26
Other (a)	10	15
Global Architectural Coatings segment income	$118	$166
Performance Coatings
Net sales to external customers	$1,265	$1,184
Cost of sales, exclusive of depreciation and amortization	675	628
Selling, general and administrative	256	245
Depreciation and amortization	33	34
Other (a)	27	26
Performance Coatings segment income	$274	$251
Industrial Coatings
Net sales to external customers	$1,562	$1,699
Cost of sales, exclusive of depreciation and amortization	1,038	1,119
Selling, general and administrative	200	212
Depreciation and amortization	48	52
Other (a)	61	67
Industrial Coatings segment income	$215	$249
Total Net Sales	$3,684	$3,849
Total Segment income	$607	$666
Corporate / Non-Segment Items
Corporate / non-segment unallocated, exclusive of depreciation and amortization	(81)	(76)
Corporate / non-segment depreciation and amortization	(14)	(18)
Interest expense, net of interest income	(13)	(13)
Business restructuring-related costs, net (b)	(9)	(11)
Portfolio optimization (c)	6	(6)
Insurance recovery (d)	6	—
Total Income from continuing operations before income taxes	$502	$542

	Three Months Ended March 31
($ in millions)	2025	2024
Segment assets (e)
Global Architectural Coatings	$6,296	$6,832
Performance Coatings	5,911	5,637
Industrial Coatings	5,457	5,575
Corporate / Non-Segment Items	3,476	3,823
Total	$21,140	$21,867
Expenditures for property (including business acquisitions)
Global Architectural Coatings	$38	$64
Performance Coatings	51	60
Industrial Coatings	85	74
Corporate / Non-Segment Items	35	64
Total	$209	$262
Investment in equity affiliates
Global Architectural Coatings	$21	$25
Performance Coatings	26	23
Industrial Coatings	21	19
Corporate / Non-Segment Items	78	77
Total	$146	$144
Share of net earnings of equity affiliates
Global Architectural Coatings	$1	$—
Performance Coatings	1	1
Industrial Coatings	—	1
Corporate / Non-Segment Items	3	3
Total	$5	$5

	Three Months Ended March 31
($ in millions)	2025	2024
Geographic Information
Segment income
United States and Canada	$273	$251
EMEA	144	157
Asia Pacific	87	103
Latin America	103	155
Total	$607	$666
Property, plant and equipment — net
United States and Canada	$1,538	$1,401
EMEA	986	980
Asia Pacific	688	698
Latin America	327	365
Total	$3,539	$3,444

(a)Other segment items for each reportable business segment includes research and development, net and other segment (income)/expense, net.

(b)Business restructuring-related costs, net include business restructuring charges, offset by releases related to previously approved programs, which are included in Other (income)/charges, net on the condensed consolidated statement of income, accelerated depreciation of certain assets, which is included in Depreciation on the condensed consolidated statement of income and other restructuring-related costs, which are included in Cost of sales, exclusive of depreciation and amortization and Selling, general and administrative on the condensed consolidated statement of income.

(c)Portfolio optimization includes a $7 million gain recognized on the sale of a business in the first quarter 2025. There was no tax expense associated with that gain. Portfolio optimization also includes advisory, legal, accounting, valuation, other professional or consulting fees, and certain internal costs directly incurred to effect acquisitions, as well as similar fees and other costs to effect divestitures and other portfolio optimization exit actions. These costs are included in Selling, general and administrative expense on the condensed consolidated statement of income.

(d)In the first quarter 2025, the Company received reimbursement under its insurance policies for damages incurred at a southern U.S. factory from a winter storm in 2021.

(e)Segment assets are the total assets used in the operation of each segment. Corporate assets principally include amounts recorded in Cash and cash equivalents, Deferred income taxes, and Property, plant and equipment, net on the consolidated balance sheet.