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REPORTABLE SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
REPORTABLE SEGMENT INFORMATION | REPORTABLE SEGMENT INFORMATION The Company reports its segment information in the same way that management internally organizes its business for assessing performance and making decisions regarding allocation of resources in accordance with the Segment Reporting Topic of the ASC. The Company has determined that it has three reportable operating segments: The Americas Group, Consumer Brands Group and Performance Coatings Group (individually, a Reportable Segment and collectively, the Reportable Segments).
| Three Months Ended September 30, 2022
| The Americas Group |  | Consumer Brands Group |  | Performance Coatings Group |  | Administrative |  | Consolidated Totals
Net external sales | $ | 3,602.7 |  |  | $ | 701.9 |  |  | $ | 1,741.7 |  |  | $ | 1.1 |  |  | $ | 6,047.4 |
Intersegment transfers | — |  |  | 1,513.2 |  |  | 55.7 |  |  | (1,568.9) |  |  | — |
Total net sales and intersegment transfers | $ | 3,602.7 |  |  | $ | 2,215.1 |  |  | $ | 1,797.4 |  |  | $ | (1,567.8) |  |  | $ | 6,047.4 |
Segment profit | $ | 764.1 |  |  | $ | 94.9 |  |  | $ | 236.3 |  |  |  |  | $ | 1,095.3 |
Interest expense |  |  |  |  |  |  | $ | (101.2) |  |  | (101.2) |
Administrative expenses and other |  |  |  |  |  |  | (116.9) |  |  | (116.9) |
Income before income taxes | $ | 764.1 |  |  | $ | 94.9 |  |  | $ | 236.3 |  |  | $ | (218.1) |  |  | $ | 877.2 |
| Three Months Ended September 30, 2021
| The Americas Group |  | Consumer Brands Group |  | Performance Coatings Group |  | Administrative |  | Consolidated Totals
Net external sales | $ | 2,967.0 |  |  | $ | 646.7 |  |  | $ | 1,532.5 |  |  | $ | 0.5 |  |  | $ | 5,146.7 |
Intersegment transfers | — |  |  | 1,155.3 |  |  | 40.5 |  |  | (1,195.8) |  |  | — |
Total net sales and intersegment transfers | $ | 2,967.0 |  |  | $ | 1,802.0 |  |  | $ | 1,573.0 |  |  | $ | (1,195.3) |  |  | $ | 5,146.7 |
Segment profit | $ | 631.5 |  |  | $ | 75.8 |  |  | $ | 110.4 |  |  |  |  | $ | 817.7 |
Interest expense |  |  |  |  |  |  | $ | (83.1) |  |  | (83.1) |
Administrative expenses and other |  |  |  |  |  |  | (123.1) |  |  | (123.1) |
Income before income taxes | $ | 631.5 |  |  | $ | 75.8 |  |  | $ | 110.4 |  |  | $ | (206.2) |  |  | $ | 611.5 |
| Nine Months Ended September 30, 2022
| The Americas Group |  | Consumer Brands Group |  | Performance Coatings Group |  | Administrative |  | Consolidated Totals
Net external sales | $ | 9,589.9 |  |  | $ | 2,139.2 |  |  | $ | 5,186.1 |  |  | $ | 3.2 |  |  | $ | 16,918.4 |
Intersegment transfers | — |  |  | 4,218.3 |  |  | 161.3 |  |  | (4,379.6) |  |  | — |
Total net sales and intersegment transfers | $ | 9,589.9 |  |  | $ | 6,357.5 |  |  | $ | 5,347.4 |  |  | $ | (4,376.4) |  |  | $ | 16,918.4 |
Segment profit | $ | 1,909.9 |  |  | $ | 223.3 |  |  | $ | 577.6 |  |  |  |  | $ | 2,710.8 |
Interest expense |  |  |  |  |  |  | $ | (282.5) |  |  | (282.5) |
Administrative expenses and other |  |  |  |  |  |  | (350.1) |  |  | (350.1) |
Income before income taxes | $ | 1,909.9 |  |  | $ | 223.3 |  |  | $ | 577.6 |  |  | $ | (632.6) |  |  | $ | 2,078.2 |
| Nine Months Ended September 30, 2021
| The Americas Group |  | Consumer Brands Group |  | Performance Coatings Group |  | Administrative |  | Consolidated Totals
Net external sales | $ | 8,563.5 |  |  | $ | 2,156.3 |  |  | $ | 4,461.3 |  |  | $ | 1.4 |  |  | $ | 15,182.5 |
Intersegment transfers | — |  |  | 3,238.9 |  |  | 110.4 |  |  | (3,349.3) |  |  | — |
Total net sales and intersegment transfers | $ | 8,563.5 |  |  | $ | 5,395.2 |  |  | $ | 4,571.7 |  |  | $ | (3,347.9) |  |  | $ | 15,182.5 |
Segment profit | $ | 1,838.8 |  |  | $ | 342.3 |  |  | $ | 399.0 |  |  |  |  | $ | 2,580.1 |
Interest expense |  |  |  |  |  |  | $ | (249.8) |  |  | (249.8) |
Administrative expenses and other |  |  |  |  |  |  | (390.6) |  |  | (390.6) |
Income before income taxes | $ | 1,838.8 |  |  | $ | 342.3 |  |  | $ | 399.0 |  |  | $ | (640.4) |  |  | $ | 1,939.7 |
In the reportable segment financial information, Segment profit was total net sales and intersegment transfers less operating costs and expenses. Domestic intersegment transfers were accounted for at the approximate fully absorbed manufactured cost, based on normal capacity volumes, plus customary distribution costs. International intersegment transfers were accounted for at values comparable to normal unaffiliated customer sales. The Administrative segment includes the administrative expenses of the Company’s corporate headquarters site and the operations of a real estate management unit that is responsible for the ownership, management and leasing of non-retail properties held primarily for use by the Company, including the Company’s headquarters site, and disposal of idle facilities. Also included in the Administrative segment was interest expense, interest and investment income, certain expenses related to closed facilities and environmental-related matters, and other expenses that were not directly associated with the Reportable Segments. In addition, the Administrative segment includes the $111.9 million pre-tax loss on the Wattyl divestiture recognized during the nine months ended September 30, 2021. See Notes 3 and 15 for additional information on the Wattyl divestiture. Sales of this segment represented external leasing revenue of excess headquarters space or leasing of facilities no longer used by the Company in its primary businesses. The Administrative segment did not include any significant foreign operations. Gains and losses from the sale of property were not a significant operating factor in determining the performance of the Administrative segment. Net external sales of all consolidated foreign subsidiaries were $1.064 billion and $1.019 billion for the three months ended September 30, 2022 and 2021, respectively. Net external sales of all consolidated foreign subsidiaries were $3.262 billion and $3.158 billion for the nine months ended September 30, 2022 and 2021, respectively. Long-lived assets of these subsidiaries totaled $2.839 billion and $2.772 billion at September 30, 2022 and 2021, respectively. Domestic operations accounted for the remaining net external sales and long-lived assets. No single geographic area outside the United States was significant relative to consolidated net external sales, income before taxes or consolidated long-lived assets. Export sales and sales to any individual customer were each less than 10% of consolidated sales in 2022 and 2021. For further details on the Company's Reportable Segments, see Note 21 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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