Reportable Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Segment Reporting Information, by Segment

Reportable business segment net sales and segment income for the three and nine months ended September 30, 2025 and 2024 were as follows:


	Three Months Ended September 30		Nine Months Ended September 30
($ in millions)	2025	2024	2025	2024
Global Architectural Coatings
Net sales to external customers	$1,012	$1,004	$2,887	$3,040
Cost of sales, exclusive of depreciation and amortization	492	494	1,419	1,465
Selling, general and administrative	290	289	872	899
Depreciation and amortization	29	26	82	78
Other (a)	17	12	52	38
Global Architectural Coatings segment income	$184	$183	$462	$560
Performance Coatings
Net sales to external customers	$1,414	$1,373	$4,191	$3,975
Cost of sales, exclusive of depreciation and amortization	821	755	2,315	2,156
Selling, general and administrative	264	258	795	764
Depreciation and amortization	35	31	101	99
Other (a)	22	23	78	73
Performance Coatings segment income	$272	$306	$902	$883
Industrial Coatings
Net sales to external customers	$1,656	$1,655	$4,883	$5,101
Cost of sales, exclusive of depreciation and amortization	1,113	1,132	3,265	3,415
Selling, general and administrative	198	207	603	629
Depreciation and amortization	48	52	144	157
Other (a)	64	64	196	192
Industrial Coatings segment income	$233	$200	$675	$708
Total Net Sales	$4,082	$4,032	$11,961	$12,116
Total Segment income	$689	$689	$2,039	$2,151
Corporate / Non-Segment Items
Corporate / non-segment unallocated, exclusive of depreciation and amortization	(59)	(72)	(213)	(215)
Corporate / non-segment depreciation and amortization	(14)	(10)	(44)	(39)
Interest expense, net of interest income	(23)	(19)	(54)	(49)
Business restructuring-related costs, net (b)	(11)	—	(40)	(15)
Impairment and other related charges, net (c)	(24)	—	(24)	—
Portfolio optimization (d)	(2)	(10)	2	(42)
Insurance recovery (e)	—	—	6	—
Legacy environmental remediation charges (f)	—	—	(16)	(20)
Total Income from continuing operations before income taxes	$556	$578	$1,656	$1,771


	Three Months Ended September 30		Nine Months Ended September 30
($ in millions)	2025	2024	2025	2024
Expenditures for property, plant and equipment (including business acquisitions)
Global Architectural Coatings	$25	$22	$82	$114
Performance Coatings	41	32	119	126
Industrial Coatings	44	52	161	159
Corporate / Non-Segment Items	37	42	115	143
Total	$147	$148	$477	$542
Share of net earnings of equity affiliates
Global Architectural Coatings	$—	$1	$1	$2
Performance Coatings	1	1	4	4
Industrial Coatings	1	—	1	1
Corporate / Non-Segment Items	3	3	9	8
Total	$5	$5	$15	$15


($ in millions)	September 30, 2025	September 30, 2024
Segment assets (g)
Global Architectural Coatings	$6,754	$6,483
Performance Coatings	6,187	5,816
Industrial Coatings	5,670	5,629
Total segment assets	$18,611	$17,928
Corporate / Non-Segment Items	3,533	3,930
Total	$22,144	$21,858
Investment in equity affiliates
Global Architectural Coatings	$24	$21
Performance Coatings	28	25
Industrial Coatings	22	20
Total segment investment in equity affiliates	$74	$66
Corporate / Non-Segment Items	82	81
Total	$156	$147


	Three Months Ended September 30		Nine Months Ended September 30
($ in millions)	2025	2024	2025	2024
Geographic Information
Segment income
United States and Canada	$261	$264	$894	$838
EMEA	177	176	484	527
Asia Pacific	115	119	302	351
Latin America	136	130	359	435
Total	$689	$689	$2,039	$2,151

(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 charges/(income), 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)In the third quarter 2025, the Company recorded net impairment and other related charges related to a consolidated joint venture in the Performance Coatings segment, which are included in Other charges/(income), net on the condensed consolidated statement of income. Net loss of $12 million related to the impairment charge was attributable to noncontrolling interests.

(d)Portfolio optimization includes gains and losses on the sale of non-core assets, including net gains in the first and third quarter 2025 and a loss recognized on the sale of the Company’s traffic solutions business in Argentina in the second quarter 2024, which are included in Other charges/(income), net in the condensed consolidated statement of income. 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. There was no tax expense associated with the gains recognized on the sales of non-core assets in the first and third quarter 2025.

(e)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.

(f)Legacy environmental remediation charges represent environmental remediation costs at certain non-operating PPG manufacturing sites. These charges are included in Other charges/(income), net in the condensed consolidated statement of income.

(g)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.