← Filings of MAS
Tables in the 10-Q of MASCO CORP /DE/
27 tables with numbers, filed Oct 24, 2017. Each one downloads as an Excel file or a CSV (numbers are stored as numbers),
with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| | Page No. |
| PART I. | FINANCIAL INFORMATION | |
| Item 1. | Financial Statements (Unaudited): | |
| Condensed Consolidated Balance Sheets — as at September 30, 2017 and December 31, 2016 | 1 |
| Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2017 and 2016 | 2 |
| Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2017 and 2016 | 3 |
| Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2017 and 2016 | 4 |
| Consolidated Statements of Shareholders’ Equity for the Nine Months Ended September 30, 2017 and 2016 | 5 |
First 8 of 17 rows. The download has all of them.
Table 2 after “(In Millions, Except Share Data)”
| September 30, 2017 | December 31, 2016 | |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash investments | $1,141 | | $990 |
| Short-term bank deposits | 77 | | 201 |
| Receivables | 1,128 | | 917 |
| Prepaid expenses and other | 96 | | 114 |
| Inventories: | | | |
First 8 of 39 rows. The download has all of them.
Table 3 after “(In Millions, Except Per Common Share Data)”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Net sales | $1,936 | | $1,877 | | $5,770 | $5,598 |
| Cost of sales | 1,286 | | 1,263 | | 3,775 | 3,715 |
| Gross profit | 650 | | 614 | | 1,995 | 1,883 |
| Selling, general and administrative expenses | 355 | | 345 | | 1,090 | 1,045 |
| Operating profit | 295 | | 269 | | 905 | 838 |
| Other income (expense), net: | | | | | | |
First 8 of 21 rows. The download has all of them.
Table 4 after “(In Millions)”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Net income | $160 | | $146 | | $481 | $428 |
| Less: Net income attributable to noncontrolling interest | 12 | | 12 | | 35 | 35 |
| Net income attributable to Masco Corporation | $148 | | $134 | | $446 | $393 |
| Other comprehensive income (loss), net of tax (Note J): | | | | | | |
| Cumulative translation adjustment | $33 | | $(1) | | $119 | $(10) |
| Interest rate swaps | — | | — | | 2 | 1 |
First 8 of 16 rows. The download has all of them.
Table 5 after “(In Millions)”
| Nine Months Ended September 30, | | |
| 2017 | 2016 | |
| CASH FLOWS FROM (FOR) OPERATING ACTIVITIES: | | | |
| Cash provided by operations | $745 | | $670 |
| Increase in receivables | (227) | | (245) |
| Increase in inventories | (143) | | (73) |
| Increase in accounts payable and accrued liabilities, net | 92 | | 131 |
| Net cash from operating activities | 467 | | 483 |
First 8 of 35 rows. The download has all of them.
Table 6 after “(In Millions, Except Per Share Data)”
| Total | Common Shares ($1 par value) | | Paid-InCapital | Retained Deficit | AccumulatedOtherComprehensive Loss | | NoncontrollingInterest | | |
| Balance, January 1, 2016 | $58 | | $330 | | $— | | $(300) | | $(165) | $193 |
| Total comprehensive income (loss) | 427 | | | | | | 393 | | (5) | 39 |
| Shares issued | (24) | | 3 | | (27) | | | | | |
| Shares retired: | | | | | | | | | | |
| Repurchased | (252) | | (8) | | (8) | | (236) | | | |
| Surrendered (non-cash) | (14) | | | | | | (14) | | | |
| Cash dividends declared | (96) | | | | | | (96) | | | |
First 8 of 21 rows. The download has all of them.
Table 7 after “, by segment, were as follows, in millions:”
| Gross Goodwill At September 30, 2017 | Accumulated Impairment Losses | | Net Goodwill At September 30, 2017 | |
| Plumbing Products | $534 | | $(340) | | $194 |
| Decorative Architectural Products | 294 | | (75) | | 219 |
| Cabinetry Products | 240 | | (59) | | 181 |
| Windows and Other Specialty Products | 718 | | (511) | | 207 |
| Total | $1,786 | | $(985) | | $801 |
Table 8 after “, by segment, were as follows, in millions:”
| Gross Goodwill At December 31, 2016 | Accumulated ImpairmentLosses | | Net Goodwill At December 31, 2016 | Other(A) | Divestitures (B) | | Net Goodwill At September 30, 2017 | | |
| Plumbing Products | $519 | | $(340) | | $179 | | $15 | | $— | $194 |
| Decorative Architectural Products | 294 | | (75) | | 219 | | — | | — | 219 |
| Cabinetry Products | 240 | | (59) | | 181 | | — | | — | 181 |
| Windows and Other Specialty Products | 987 | | (734) | | 253 | | 1 | | (47) | 207 |
| Total | $2,040 | | $(1,208) | | $832 | | $16 | | $(47) | $801 |
Table 9 after “The pre-tax gains (losses) included in our condensed consolidated statements of operations are as follows, in millions:”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Foreign currency contracts: | | | | | | |
| Exchange contracts | $(1) | | $— | | $(1) | $— |
| Forward contracts | 1 | | — | | 1 | — |
| Metals contracts | — | | 1 | | — | 5 |
| Interest rate swaps | — | | — | | (3) | (1) |
| Total gain (loss) | $— | | $1 | | $(3) | $4 |
Table 10 after “We present our derivatives net by counterparty, due to the right of offset under master netting arrangements, in the condensed consolidated ”
| At December 31, 2016 | | |
| Notional Amount | Balance Sheet | |
| Foreign currency contracts: | | | |
| Forward contracts | $21 | | |
| Accrued liabilities | | | $(2) |
| Metals contracts | 1 | | |
| Accrued liabilities | | | — |
Table 11 after “Changes in our warranty liability were as follows, in millions:”
| Nine Months Ended September 30, 2017 | Twelve Months Ended December 31, 2016 | |
| Balance at January 1 | $192 | | $152 |
| Accruals for warranties issued during the period | 43 | | 66 |
| Accruals related to pre-existing warranties | 6 | | 33 |
| Settlements made (in cash or kind) during the period | (43) | | (56) |
| Other, net (including currency translation) | 1 | | (3) |
| Balance at end of period | $199 | | $192 |
Table 12 after “Pre-tax compensation expense for these stock-based incentives were as follows, in millions:”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Long-term stock awards | $6 | | $5 | | $19 | $17 |
| Stock options | — | | 1 | | 2 | 2 |
| Restricted stock units | — | | — | | 1 | — |
| Phantom stock awards and stock appreciation rights | 2 | | 4 | | 7 | 6 |
| Total | $8 | | $10 | | $29 | $25 |
Table 13 after “Our long-term stock award activity was as follows, shares in millions:”
| Nine Months Ended September 30, | | |
| 2017 | 2016 | |
| Unvested stock award shares at January 1 | 4 | | 5 |
| Weighted average grant date fair value | $20 | | $17 |
| Stock award shares granted | 1 | | 1 |
| Weighted average grant date fair value | $34 | | $26 |
| Stock award shares vested | 2 | | 2 |
| Weighted average grant date fair value | $18 | | $16 |
First 8 of 12 rows. The download has all of them.
Table 14 after “Our stock option activity was as follows, shares in millions:”
| | Nine Months Ended September 30, | | | |
| | 2017 | | 2016 | |
| Option shares outstanding, January 1 | | 7 | | | 12 |
| Weighted average exercise price | $15 | | $17 | | |
| Option shares granted | | — | | | — |
| Weighted average exercise price | $34 | | $26 | | |
| Option shares exercised | | 1 | | | 5 |
| Aggregate intrinsic value on date of exercise (A) | $36 million | | $64 million | | |
First 8 of 22 rows. The download has all of them.
Table 15 after “The weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes ”
| Nine Months Ended September 30, | | |
| 2017 | 2016 | |
| Weighted average grant date fair value | $9.68 | | $6.43 |
| Risk-free interest rate | 2.16% | | 1.41% |
| Dividend yield | 1.19% | | 1.49% |
| Volatility factor | 30.00% | | 29.00% |
| Expected option life | 6 years | | 6 years |
Table 16 after “Net periodic pension cost for our defined-benefit pension plans was as follows, in millions:”
| Three Months Ended September 30, | | | | | |
| 2017 | 2016 | | | | |
| Qualified | Non-Qualified | | Qualified | Non-Qualified | |
| Service cost | $1 | | $— | | $1 | $— |
| Interest cost | 11 | | 2 | | 13 | 1 |
| Expected return on plan assets | (12) | | — | | (15) | — |
| Amortization of net loss | 5 | | 1 | | 5 | 1 |
| Net periodic pension cost | $5 | | $3 | | $4 | $2 |
Table 17 after “Net periodic pension cost for our defined-benefit pension plans was as follows, in millions:”
| Nine Months Ended September 30, | | | | | |
| 2017 | 2016 | | | | |
| Qualified | Non-Qualified | | Qualified | Non-Qualified | |
| Service cost | $2 | | $— | | $2 | $— |
| Interest cost | 36 | | 5 | | 34 | 5 |
| Expected return on plan assets | (36) | | — | | (34) | — |
| Amortization of net loss | 15 | | 2 | | 12 | 2 |
| Net periodic pension cost | $17 | | $7 | | $14 | $7 |
Table 18 after “The reclassifications from accumulated other comprehensive loss to the condensed consolidated statements of operations were as follows, in m”
| | Amounts Reclassified | | | | | | | | |
| Accumulated Other Comprehensive Loss | | Three Months Ended September 30, | | Nine Months Ended September 30, | | Statement of Operations Line Item | | | | |
| 2017 | | 2016 | | 2017 | | 2016 | | | |
| Amortization of defined benefit pension and other postretirement benefits: | | | | | | | | | | |
| Actuarial losses, net | | $6 | | | $6 | | | $17 | $14 | Selling, general and administrative expenses |
| Tax (benefit) | | (2) | | | (3) | | | (6) | (5) | |
| Net of tax | | $4 | | | $3 | | | $11 | $9 | |
| Interest rate swaps | | $— | | | $— | | | $3 | $1 | Interest expense |
First 8 of 13 rows. The download has all of them.
Table 19 after “Information by segment and geographic area was as follows, in millions:”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | | | | | | | | | | |
| 2017 | 2016 | | 2017 | 2016 | 2017 | | 2016 | 2017 | 2016 | | | | | |
| Net Sales(A) | Operating Profit (Loss) | | Net Sales(A) | Operating Profit (Loss) | | | | | | | | | | |
| Operations by segment: | | | | | | | | | | | | | | | |
| Plumbing Products | $951 | | $899 | | $175 | | $174 | | $2,763 | | $2,635 | | $529 | | $491 |
| Decorative Architectural Products | 553 | | 536 | | 104 | | 111 | | 1,711 | | 1,649 | | 346 | | 355 |
| Cabinetry Products | 229 | | 239 | | 19 | | 19 | | 711 | | 736 | | 65 | | 77 |
| Windows and Other Specialty Products | 203 | | 203 | | 23 | | (10) | | 585 | | 578 | | 47 | | (9) |
First 8 of 17 rows. The download has all of them.
Table 20 after “Other, net, which is included in other income (expense), net, was as follows, in millions:”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Gain on sale of business | $2 | | $— | | $51 | $— |
| Income from cash and cash investments and short-term bank deposits | 1 | | 1 | | 3 | 3 |
| Equity investment income, net | — | | — | | 1 | 1 |
| Realized gain from auction rate securities | — | | — | | — | 1 |
| Realized gains from private equity funds | — | | 1 | | 2 | 2 |
| Impairment of private equity funds | (2) | | — | | (2) | — |
First 8 of 11 rows. The download has all of them.
Table 21 after “Reconciliations of the numerators and denominators used in the computations of basic and diluted earnings per common share were as follows, ”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Numerator (basic and diluted): | | | | | | |
| Net income | $148 | | $134 | | $446 | $393 |
| Less: Allocation to unvested restricted stock awards | 1 | | 2 | | 4 | 5 |
| Net income available to common shareholders | $147 | | $132 | | $442 | $388 |
| Denominator: | | | | | | |
| Basic common shares (based upon weighted average) | 313 | | 326 | | 315 | 328 |
First 8 of 10 rows. The download has all of them.
Table 22 after “The following table sets forth our net sales and operating profit margins by business segment and geographic area, dollars in millions:”
| Three Months Ended September 30, | Percent Change | | | |
| 2017 | 2016 | | 2017 vs. 2016 | |
| Net Sales: | | | | | |
| Plumbing Products | $951 | | $899 | | 6% |
| Decorative Architectural Products | 553 | | 536 | | 3% |
| Cabinetry Products | 229 | | 239 | | (4)% |
| Windows and Other Specialty Products | 203 | | 203 | | —% |
| Total | $1,936 | | $1,877 | | 3% |
First 8 of 11 rows. The download has all of them.
Table 23 after “The following table sets forth our net sales and operating profit margins by business segment and geographic area, dollars in millions:”
| Nine Months Ended September 30, | Percent Change | | | |
| 2017 | 2016 | | 2017 vs. 2016 | |
| Net Sales: | | | | | |
| Plumbing Products | $2,763 | | $2,635 | | 5% |
| Decorative Architectural Products | 1,711 | | 1,649 | | 4% |
| Cabinetry Products | 711 | | 736 | | (3)% |
| Windows and Other Specialty Products | 585 | | 578 | | 1% |
| Total | $5,770 | | $5,598 | | 3% |
First 8 of 11 rows. The download has all of them.
Table 24 after “The following table sets forth our net sales and operating profit margins by business segment and geographic area, dollars in millions:”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Operating Profit (Loss) Margins: (A) | | | | | | |
| Plumbing Products | 18.4% | | 19.4% | | 19.1% | 18.6% |
| Decorative Architectural Products | 18.8% | | 20.7% | | 20.2% | 21.5% |
| Cabinetry Products | 8.3% | | 7.9% | | 9.1% | 10.5% |
| Windows and Other Specialty Products | 11.3% | | (4.9)% | | 8.0% | (1.6)% |
| North America | 17.4% | | 15.7% | | 18.2% | 16.9% |
First 8 of 11 rows. The download has all of them.
Table 25 after “. The following table reconciles reported net sales to net sales, excluding dispositions and the effect of currency translation, in millions”
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2017 | 2016 | | 2017 | 2016 | |
| Net sales, as reported | $1,936 | | $1,877 | | $5,770 | $5,598 |
| Dispositions | — | | (17) | | — | (17) |
| Net sales, excluding dispositions | 1,936 | | 1,860 | | 5,770 | 5,581 |
| Currency translation | (15) | | — | | 30 | — |
| Net sales, excluding dispositions and the effect of currency translation | $1,921 | | $1,860 | | $5,800 | $5,581 |
Table 26 after “under the 2017 share repurchase authorization:”
| Period | Total Number Of SharesPurchased | Average PricePaid PerCommon Share | | Total Number OfShares PurchasedAs Part OfPublicly AnnouncedPlans or Programs (A) | Maximum Value OfShares That MayYet Be PurchasedUnder The Plans Or Programs | |
| 7/1/17-7/31/17 | 359,823 | | $38.32 | | 359,823 | $1,472,685,839 |
| 8/1/17-8/31/17 (B) | 3,660,131 | | $44.83 | | 3,660,131 | $1,308,607,235 |
| 9/1/17-9/30/17 | — | | $— | | — | $1,308,607,235 |
| Total for the period | 4,019,954 | | $44.25 | | 4,019,954 | $1,308,607,235 |
Table 27 after “Exhibits”
| 12 | – | Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
| 31a | – | Certification by Chief Executive Officer Required by Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934 |
| 31b | – | Certification by Chief Financial Officer Required by Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934 |
| 32 | – | Certification Required by Rule 13a-14(b) or 15d-14(b) of the Securities Exchange Act of 1934 and Section 1350 of Chapter 63 of Title 18 of the United States Code |
| 101 | – | Interactive Data File |