XML 95 R113.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Results of Reportable Segments (Detail) (USD $) In Thousands, unless otherwise specified | 3 Months Ended | 12 Months Ended
--- | --- | ---
May 31, 2013 | Feb. 28, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | May 31, 2012 | Feb. 29, 2012 | Nov. 30, 2011 | Aug. 31, 2011 | May 31, 2013 | May 31, 2012 | May 31, 2011
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales | $ 1,170,779 | [1] | $ 843,736 | [2] | $ 1,017,426 | [3] | $ 1,046,714 | [4] | $ 1,101,770 | $ 773,643 | $ 916,085 | $ 985,918 | $ 4,078,655 | [5] | $ 3,777,416 | [5] | $ 3,381,841 | [5]
Income (Expense) Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | 176,891 | [6] | 328,289 | [6] | 295,053 | [6]
Interest (Expense), Net |  |  |  |  |  |  |  |  |  |  |  |  | (73,668) | [7] | (67,859) | [7] | (49,745) | [7]
EBIT |  |  |  |  |  |  |  |  |  |  |  |  | 250,559 | [8] | 396,148 | [8] | 344,798 | [8]
Total Assets | 4,115,526 |  |  |  |  |  |  |  | 3,561,813 |  |  |  | 4,115,526 |  | 3,561,813 |  | 3,515,029 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  | 91,367 |  | 71,615 |  | 39,826 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |  | 83,744 |  | 73,698 |  | 72,753 |
Industrial Reportable Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  | 2,635,976 |  | 2,535,238 |  | 2,259,809 |
Income (Expense) Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | 164,578 | [6] | 278,676 | [6] | 232,544 | [6]
Interest (Expense), Net |  |  |  |  |  |  |  |  |  |  |  |  | (10,318) | [7] | (3,770) | [7] | (3,304) | [7]
EBIT |  |  |  |  |  |  |  |  |  |  |  |  | 174,896 | [8] | 282,446 | [8] | 235,848 | [8]
Total Assets | 2,458,543 |  |  |  |  |  |  |  | 2,195,702 |  |  |  | 2,458,543 |  | 2,195,702 |  | 1,992,143 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  | 50,025 |  | 47,529 |  | 29,687 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |  | 53,549 |  | 48,701 |  | 46,352 |
Consumer Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  | 1,442,679 |  | 1,242,178 |  | 1,122,032 |
Income (Expense) Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | 190,611 | [6] | 160,099 | [6] | 146,035 | [6]
Interest (Expense), Net |  |  |  |  |  |  |  |  |  |  |  |  | (10) | [7] | 18 | [7] | 63 | [7]
EBIT |  |  |  |  |  |  |  |  |  |  |  |  | 190,621 | [8] | 160,081 | [8] | 145,972 | [8]
Total Assets | 1,584,160 |  |  |  |  |  |  |  | 1,184,609 |  |  |  | 1,584,160 |  | 1,184,609 |  | 1,195,849 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  | 35,081 |  | 17,156 |  | 9,665 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |  | 28,624 |  | 23,656 |  | 24,954 |
Corporate/Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (Expense) Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  | (178,298) | [6] | (110,486) | [6] | (83,526) | [6]
Interest (Expense), Net |  |  |  |  |  |  |  |  |  |  |  |  | (63,340) | [7] | (64,107) | [7] | (46,504) | [7]
EBIT |  |  |  |  |  |  |  |  |  |  |  |  | (114,958) | [8] | (46,379) | [8] | (37,022) | [8]
Total Assets | 72,823 |  |  |  |  |  |  |  | 181,502 |  |  |  | 72,823 |  | 181,502 |  | 327,037 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  | 6,261 |  | 6,930 |  | 474 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |  | $ 1,571 |  | $ 1,341 |  | $ 1,447 |
[1] | For the quarter ended May 31, 2013, we recorded $23.9 million in restructuring expense, including $3.9 million in inventory markdowns. We also recorded bad debt for the remaining amount of our loan to Kemrock totaling $4.0 million and wrote off our remaining investment in Kemrock common stock and in Kemrock convertible debt for a combined loss of $18.5 million. Additionally, we reduced our estimated accrual for our agreement in principle with the GSA by $3.7 million. The combined impact of these items on net income and earnings per share for the fourth quarter was $30.0 million and $0.23 per share, respectively.
[2] | For the quarter ended February 28, 2013, we accrued a loss of $68.8 million for a proposed settlement between our Building Solutions Group and the General Services Administration ("GSA"). Additionally, net income was impacted by $1.6 million for the impact of a strategic repositioning of certain industrial segment operations in Brazil. The combined impact of these items on net income and earnings per share for the third quarter was $51.0 million and $0.40 per share, respectively.
[3] | For the quarter ended November 30, 2012, we wrote down our remaining investment in Kemrock, which impacted net income and earnings per share by $10.8 million and $0.09 per share, respectively.
[4] | For the quarter ended August 31, 2012, net sales and gross profit were reduced by $2.9 million and $5.4 million, respectively, for revised cost estimates on unprofitable contracts related to our industrial segment, and $5.6 million in exit costs associated with those activities that impacted pretax income. Additionally, we wrote down an investment in Kemrock totaling $40.3 million and recognized $5.0 million in bad debt from our loan to Kemrock. The combined impact on net income and earnings per share was $50.9 million and $0.38 per share, respectively.
[5] | It is not practicable to obtain the information needed to disclose revenues attributable to each of our product lines.
[6] | The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles (GAAP) in the United States, to EBIT.
[7] | Interest (expense), net includes the combination of interest expense and investment expense (income), net.
[8] | EBIT is defined as earnings (loss) before interest and taxes. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT as a performance evaluation measure because interest expense is essentially related to corporate acquisitions, as opposed to segment operations. For that reason, we believe EBIT is also useful to investors as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, operating income as determined in accordance with GAAP, since EBIT omits the impact of interest and taxes in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness and ongoing tax obligations. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community, all of whom believe, and we concur, that this measure is critical to the capital markets' analysis of our segments' core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. Our underwriters and bankers consistently require inclusion of this measure in offering memoranda in conjunction with any debt underwriting or bank financing. EBIT may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results.

X
- Definition Income (Loss) Before Interest Expense and Income Taxes + References No definition available. + Details
Name: | rpm_IncomeLossBeforeInterestExpenseAndIncomeTaxes
Namespace Prefix: | rpm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 18 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.18) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 12 -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Concepts (CON) -Number 6 -Paragraph 25 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_Assets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585 + Details
Name: | us-gaap_DepreciationAndAmortization
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Subparagraph 1(i) -Article 4 + Details
Name: | us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The net amount of nonoperating interest income (expense). + References No definition available. + Details
Name: | us-gaap_InterestIncomeExpenseNonoperatingNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 17 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_PaymentsToAcquireProductiveAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 + Details
Name: | us-gaap_SalesRevenueNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_SegmentReportingInformationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration