2015 Sustainability Report

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Financial Highlights

 

 

 

2015

2014

Change

Change %

Net sales from continuing operations $ 15,330 $ 15,360 $ (30) 0%
Income from continuing operations $ 1,405 $ 1,133 $ 272 24%
Income from discontinued operations** $ 1 $ 969 $ (968) -100%
Net income** $ 1,406 $ 2,102 $ (696) -33%
Earnings per share from continuing operations+ $ 5.14 $ 4.05 $ 1.09 27%
Earnings per share from discontinued operations+ $ - $ 3.47 $ (3.47) -100%
Total earnings per share+** $ 5.14 $ 7.52 $ (2.38) -32%
Adjusted earnings per share from continuing operations* $ 5.69 $ 4.88 $ 0.81 17%
Dividends per share $ 1.41 $ 1.31 $ 0.10 8%
Return on average capital 15.8% 13.9% 1.9% 14%
Operating cash flow (from continuing operations) $ 1,837 $ 1,807 $ 30 2%
Capital spending (including business acquisitions) $796 $ 2,700 $ (1,904) -71%
Research and Development $ 505 $ 509 $ (4) -1%
Average shares outstanding+ 273.6 279.6 (6) -2%
Average number of employees 46,600 44,000 2,200 5%
PPG Shareholders equity $ 4,983 $ 5,180 $ (220) -4%

+ On April 16, 2015, the PPG Board of Directors approved a 2-for-1 split of the company's common stock. PPG common stock began trading on a split-adjusted basis on June 15, 2015. All historical per share and share data give retroactive effect to the 2-for-1 stock split.

* Adjusted amounts in 2015 include nonrecurring per diluted share amounts of $0.39 for a business restructuring charge; $0.11 for transaction-related costs; $0.03 for an equity affiliate debt-refinancing charge, and $0.02 for pension settlement charge. Adjusted amounts in 2014 include nonrecurring per diluted share amounts of $0.72 for a debt refinancing charge; $0.30 for environmental remediation; $0.16 for transaction-related costs and $0.02 for pension settlement charge. The adjusted amounts are reduced by $0.11 for a favorable foreign tax ruling and $0.26 for a gain on asset dispositions. Adjusted amounts in 2013 include nonrecurring per diluted share amounts of $0.25 for business restructuring; $0.22 for environmental remediation; $0.08 for transaction-related costs; and $0.04 for legacy pension settlement charge. The adjusted amounts are reduced by $0.03 for the retroactive benefit of a U.S. tax law change. Adjusted amounts in 2012 include nonrecurring per diluted share amounts of $0.45 for business restructuring; $0.32 for environmental remediation; and $0.02 for transaction-related costs.

** Includes gains of $1.5 billion resulting from the sale of our ownership interest in the Transitions Optical joint venture and PPG’s wholly-owned sunlens business in 2014.

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