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INTERIM FINANCIAL INFORMATION (UNAUDITED) (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Schedule of interim financial information | Our quarterly results attributable to Masco Corporation were as follows:
|  |  |  | Quarters Ended
|  |  |  | (In Millions, Except Per Common Share Data)
|  | Total Year |  | December 31 |  | September 30 |  | June 30 |  | March 31
2020 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 7,188 |  |  | $ | 1,860 |  |  | $ | 1,983 |  |  | $ | 1,764 |  |  | $ | 1,581 |
Gross profit |  | $ | 2,587 |  |  | $ | 660 |  |  | $ | 752 |  |  | $ | 628 |  |  | $ | 547 |
Income from continuing operations |  | $ | 810 |  |  | $ | 192 |  |  | $ | 275 |  |  | $ | 210 |  |  | $ | 133 |
Net income (1) |  | $ | 1,224 |  |  | $ | 195 |  |  | $ | 275 |  |  | $ | 224 |  |  | $ | 530 |
Income per common share: |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 3.05 |  |  | $ | 0.74 |  |  | $ | 1.05 |  |  | $ | 0.80 |  |  | $ | 0.49 |
Net income |  | $ | 4.60 |  |  | $ | 0.75 |  |  | $ | 1.05 |  |  | $ | 0.85 |  |  | $ | 1.93 |
Diluted: |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 3.04 |  |  | $ | 0.73 |  |  | $ | 1.05 |  |  | $ | 0.80 |  |  | $ | 0.48 |
Net income |  | $ | 4.59 |  |  | $ | 0.74 |  |  | $ | 1.05 |  |  | $ | 0.85 |  |  | $ | 1.92 |
2019 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 6,707 |  |  | $ | 1,639 |  |  | $ | 1,716 |  |  | $ | 1,839 |  |  | $ | 1,513 |
Gross profit |  | $ | 2,371 |  |  | $ | 565 |  |  | $ | 611 |  |  | $ | 673 |  |  | $ | 522 |
Income from continuing operations |  | $ | 639 |  |  | $ | 158 |  |  | $ | 163 |  |  | $ | 211 |  |  | $ | 107 |
Net income (2) |  | $ | 935 |  |  | $ | 453 |  |  | $ | 126 |  |  | $ | 240 |  |  | $ | 116 |
Income per common share: |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 2.21 |  |  | $ | 0.56 |  |  | $ | 0.57 |  |  | $ | 0.73 |  |  | $ | 0.36 |
Net income |  | $ | 3.24 |  |  | $ | 1.60 |  |  | $ | 0.44 |  |  | $ | 0.82 |  |  | $ | 0.39 |
Diluted: |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 2.20 |  |  | $ | 0.56 |  |  | $ | 0.56 |  |  | $ | 0.72 |  |  | $ | 0.36 |
Net income |  | $ | 3.22 |  |  | $ | 1.59 |  |  | $ | 0.44 |  |  | $ | 0.82 |  |  | $ | 0.39 |
______________________________ (1)Net income includes $397 million of income from discontinued operations, net for the quarter ended March 31, 2020, which includes the gain on the sale of the Cabinetry divestiture. (2)Net income includes $295 million and $(37) million of income (loss) from discontinued operations, net for the quarters ended December 31, 2019 and September 30, 2019, respectively, which includes the gain (loss) on the sale of the Milgard and UKWG divestitures, respectively.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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