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Segment Information | 3 Months Ended
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Aug. 31, 2025
Segment Reporting [Abstract] |
Segment Information | NOTE 17 — SEGMENT INFORMATION Effective June 1, 2025, we realigned certain businesses and management structures to recognize how we allocate resources and analyze the operating performance of our operating segments. As such, we will begin reporting under three reportable segments instead of our four previous reportable segments. Our three reportable segments will now be: CPG, PCG and Consumer. In connection with this realignment, we transferred our Legend Brands reporting unit from SPG to CPG, our Industrial Coatings Group and Food Group reporting units from SPG to PCG, and our Color Group reporting unit from SPG to Consumer. This realignment changed our reportable segments beginning with our first quarter of fiscal 2026. As a result, historical segment results have been recast to reflect the impact of this change. We operate a portfolio of businesses and product lines that manufacture and sell a variety of specialty paints, protective coatings, roofing systems, flooring solutions, sealants, cleaners and adhesives, among other things. We manage our portfolio by organizing our businesses and product lines into three reportable segments as outlined be low, which are comprised from our four operating segments. We have aggregated our Legend Brands and CPG operating segments into our CPG reportable segment, because they are economically similar and meet the other aggregation criteria for determining reportable segments. Within each operating segment, we manage product lines and businesses which generally address common markets, share similar economic characteristics, utilize similar technologies and can share manufacturing or distribution capabilities. Our four operating segments are each managed by an operating segment manager, who is responsible for the day-to-day operating decisions and performance evaluation of the operating segment’s underlying businesses. These four operating segments represent components of our business for which separate financial information is available that is utilized on a regular basis by our Chief Operating Decision Maker ("CODM"), who is our Chairman, President and Chief Executive Officer. Our CODM evaluates the profit performance of our segments and allocates resources primarily based on income before income taxes, but also looks to EBIT, or adjusted EBIT, because interest (income) expense, net is essentially related to corporate functions, as opposed to segment operations. Our CODM utilizes these performance metrics in determining how to allocate the assets of the company, evaluate performance in periodic reviews, and during the annual budget and forecasting process. Our CPG reportable segment products and services are sold throughout North America and also account for a significant portion of our international sales. Our construction product lines are sold directly to manufacturers, contractors, distributors and end-users, including industrial manufacturing facilities, concrete and cement producers, public institutions and other commercial customers. Products and services within this reportable segment include construction sealants and adhesives, coatings and chemicals, roofing systems, roofing installation, HVAC and roofing restoration, concrete admixture and repair products, building envelope solutions, parking decks, insulated cladding, firestopping, flooring systems, weatherproofing solutions and restoration services equipment. Our PCG reportable segment products and services are sold throughout North America, as well as internationally, and are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. Products and services within this reportable segment include high-performance flooring solutions, corrosion control and fireproofing coatings, infrastructure repair systems and fiberglass reinforced plastic structures, factory applied industrial coatings, preservation products, edible coatings and specialty glazes for pharmaceutical and food industries. Our Consumer reportable segment manufactures and markets professional use and do-it-yourself products for a variety of mainly residential applications, including home improvement and personal leisure activities. Our Consumer reportable segment’s major manufacturing and distribution operations are located primarily in North America, along with a few locations in Europe and Latin America. Our Consumer reportable segment products are primarily sold directly to mass merchandisers, home improvement centers, hardware stores, paint stores, craft shops and through distributors. The Consumer reportable segment offers products that include specialty, hobby and professional paints; caulks; adhesives; cleaners; sandpaper and other abrasives; silicone sealants; wood stains and colorants. In addition to our three reportable segments, there is a category of certain business activities and expenses, referred to as corporate/other, that does not constitute an operating segment. This category includes our corporate headquarters and related administrative expenses, results of our captive insurance companies, gains or losses on the sales of certain assets and other expenses not directly associated with any reportable segment. These corporate and other expenses reconcile reportable segment data to total consolidated income before income taxes. We reflect income from our joint ventures on the equity method and receive royalties from our licensees. The following tables present the results of our reportable segments consistent with our management philosophy, by representing the information we utilize, in conjunction with various strategic, operational and other financial performance criteria, in evaluating the performance of our portfolio of businesses, and a disaggregation of revenues by geography. We do not report identifiable assets by segment as this is not a metric used by our CODM to allocate resources or evaluate segment performance.
Three Months Ended August 31, 2025 |  | CPG Segment |  |  | PCG Segment |  |  | Consumer Segment |  |  | Total |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 881,446 |  |  | $ | 538,478 |  |  | $ | 693,819 |  |  | $ | 2,113,743 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of Sales |  |  | 499,910 |  |  |  | 299,577 |  |  |  | 421,081 |  |  |  |
Selling, General and Administrative Expenses |  |  | 215,400 |  |  |  | 153,428 |  |  |  | 161,406 |  |  |  |
Other Segment Items (1) |  |  | 2,760 |  |  |  | 2,794 |  |  |  | 2,571 |  |  |  |
Income Before Income Taxes |  | $ | 163,376 |  |  | $ | 82,679 |  |  | $ | 108,761 |  |  | $ | 354,816 |
Less: Corporate/Other Expense |  |  |  |  |  |  |  |  |  |  |  | 56,769 |
Consolidated Income Before Income Taxes |  |  |  |  |  |  |  |  |  |  | $ | 298,047 |
Three Months Ended August 31, 2024 |  | CPG Segment |  |  | PCG Segment |  |  | Consumer Segment |  |  | Total |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 828,006 |  |  | $ | 489,960 |  |  | $ | 650,823 |  |  | $ | 1,968,789 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of Sales |  |  | 472,263 |  |  |  | 267,847 |  |  |  | 392,006 |  |  |  |
Selling, General and Administrative Expenses |  |  | 193,157 |  |  |  | 145,304 |  |  |  | 146,618 |  |  |  |
Other Segment Items (1) |  |  | 1,491 |  |  |  | (310 | ) |  |  | 5,770 |  |  |  |
Income Before Income Taxes |  | $ | 161,095 |  |  | $ | 77,119 |  |  | $ | 106,429 |  |  | $ | 344,643 |
Less: Corporate/Other Expense |  |  |  |  |  |  |  |  |  |  |  | 54,192 |
Consolidated Income Before Income Taxes |  |  |  |  |  |  |  |  |  |  | $ | 290,451 |
(1) Other Segment Items includes Restructuring Expense, Interest Expense, Investment (Income), Net and Other (Income), Net.
Three Months Ended August 31, 2025 |  | CPG Segment |  |  | PCG Segment |  |  | Consumer Segment |  |  | Consolidated |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Net Sales (based on shipping location) (2) |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 620,258 |  |  | $ | 353,945 |  |  | $ | 538,012 |  |  | $ | 1,512,215 |
Foreign |  |  |  |  |  |  |  |  |  |  |  |
Canada |  |  | 82,470 |  |  |  | 23,502 |  |  |  | 42,844 |  |  |  | 148,816 |
Europe |  |  | 122,631 |  |  |  | 87,830 |  |  |  | 101,901 |  |  |  | 312,362 |
Latin America |  |  | 56,087 |  |  |  | 8,970 |  |  |  | 5,859 |  |  |  | 70,916 |
Asia Pacific |  |  | - |  |  |  | 34,224 |  |  |  | 5,203 |  |  |  | 39,427 |
Other Foreign |  |  | - |  |  |  | 30,007 |  |  |  | - |  |  |  | 30,007 |
Total Foreign |  |  | 261,188 |  |  |  | 184,533 |  |  |  | 155,807 |  |  |  | 601,528 |
Total |  | $ | 881,446 |  |  | $ | 538,478 |  |  | $ | 693,819 |  |  | $ | 2,113,743 |
Three Months Ended August 31, 2024 |  | CPG Segment |  |  | PCG Segment |  |  | Consumer Segment |  |  | Consolidated |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Net Sales (based on shipping location) (2) |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 572,160 |  |  | $ | 324,076 |  |  | $ | 525,251 |  |  | $ | 1,421,487 |
Foreign |  |  |  |  |  |  |  |  |  |  |  |
Canada |  |  | 75,330 |  |  |  | 25,720 |  |  |  | 46,144 |  |  |  | 147,194 |
Europe |  |  | 121,938 |  |  |  | 68,198 |  |  |  | 68,636 |  |  |  | 258,772 |
Latin America |  |  | 58,578 |  |  |  | 9,931 |  |  |  | 5,949 |  |  |  | 74,458 |
Asia Pacific |  |  | - |  |  |  | 34,546 |  |  |  | 4,843 |  |  |  | 39,389 |
Other Foreign |  |  | - |  |  |  | 27,489 |  |  |  | - |  |  |  | 27,489 |
Total Foreign |  |  | 255,846 |  |  |  | 165,884 |  |  |  | 125,572 |  |  |  | 547,302 |
Total |  | $ | 828,006 |  |  | $ | 489,960 |  |  | $ | 650,823 |  |  | $ | 1,968,789 |
(2) It is not practicable to obtain the information needed to disclose revenues attributable to each of our product lines.

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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