XML 58 R34.htm IDEA: XBRL DOCUMENT v3.10.0.1

Revenue (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The following table summarizes the cumulative effect made to our consolidated balance sheet as a result of the adoption to this standard.

		December 31, 2017				Adjustments due to ASU 2014-09				January 1, 2018
Assets
Inventories		$	608.6			$	(22.7	)		$	585.9
Prepaid expenses and other current assets (1)		63.9				41.7				105.6
Other assets (2)		428.6				(1.9		)		426.7
Liabilities
Other accrued liabilities (3)		$	489.6			$	1.9			$	491.5
Deferred income taxes		152.9				3.0				155.9
Equity
Retained earnings (Accumulated deficit)		$	(21.4	)		$	12.1			$	(9.3	)
Noncontrolling interests		131.7				0.1				131.8

(1) Includes the impact to contract assets resulting from the modified retrospective adoption of the new revenue standard.

(2) Includes the impact to deferred income taxes resulting from the modified retrospective adoption of the new revenue standard.

(3)

Includes the impact of estimated variable consideration on certain arrangements in our refinish end-market.Of the accounting standards we have adopted in 2018, the below standards did not have a material impact:

ASU				Effective Date
2017-12		Derivatives and Hedging		January 1, 2018
2017-09		Compensation—Stock Compensation		January 1, 2018
2017-04		Simplifying the Test for Goodwill Impairment		January 1, 2018
2017-01		Clarifying the Definition of a Business		January 1, 2018
2016-15		Statement of Cash Flows		January 1, 2018

The following tables summarizes the impact to our consolidated statements of operations and balance sheets in accordance with the new revenue standard:

		For the year ended December 31, 2018
		As reported				Prior to ASU 2014-09				Increases / (Decreases)
Net sales		$	4,669.7			$	4,662.6			$	7.1
Cost of goods sold		3,106.3				3,039.0				67.3
Selling, general and administrative expenses		959.1				1,023.1				(64.0		)
Provision for income taxes		54.2				53.2				1.0
Net income		$	213.3			$	210.5			$	2.8
Less: Net income attributable to noncontrolling interests		6.2				6.1				0.1
Net income attributable to controlling interests		$	207.1			$	204.4			$	2.7

		At December 31, 2018
		As reported				Prior to ASU 2014-09				Increases / (Decreases)
Assets
Inventories		$	613.0			$	638.0			$	(25.0	)
Prepaid expenses and other current assets		139.4				92.2				47.2
Other assets		489.1				491.7				(2.6		)
Liabilities
Other accrued liabilities		$	475.6			$	473.7			$	1.9
Deferred income taxes		140.8				137.5				3.3
Equity
Retained earnings		$	198.6			$	183.8			$	14.8
Accumulated other comprehensive loss		(336.1		)		(335.5		)		(0.6		)
Noncontrolling interests		105.4				105.2				0.2

X

- References

No definition available.

+ Details

Name:	us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22580-107794

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e725-108305

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

+ Details

Name:	us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration