PPGPPG Industries
PPG Industries, Inc. manufactures and distributes a broad range of paints, coatings and specialty products. 10-K, Item 1
- Employees
- 43,500
- Headquarters
- Pittsburgh, PA
- Next results
- around Jan 26, 2027
4 paragraphs in Risk Factors of the 10-K filed Feb 19, 2026 with nothing like them in the 10-K filed Feb 20, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 23 Materials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
against major currencies, could adversely or positively affect our financial condition and results of operations which are expressed in U.S. dollars.
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Numerous and evolving information security threats, including advanced persistent threats and ransomware, pose a risk to the security of our systems, networks and services, as well as to the confidentiality, availability and integrity of our data and of our critical business operations. The techniques, tools and tactics used in cyber-attacks evolve rapidly, including
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We are incorporating artificial intelligence technologies into our research, products, services and processes. These technologies may present business, operational, compliance and reputational risks.
Artificial intelligence (“AI”) and machine-learning technology continue to advance rapidly, presenting both opportunities and risks. If we cannot incorporate these rapidly advancing technologies as quickly or effectively as other companies, our competitive position and business results may suffer. Incorporation of these new technologies into our processes may result in new or expanded risks, including risks related to regulatory compliance, litigation, ethical concerns, confidentiality or cybersecurity, among other factors that could potentially adversely impact our business, reputation and financial results. The use of AI in the development of our products and services could increase the risk of loss or theft of our intellectual property and could subject us to incremental risks related to data privacy and cybersecurity. The use of AI can lead to unintended consequences, including generating content that appears correct but is factually inaccurate, misleading or otherwise flawed, or that results in unintended biases and discriminatory outcomes, which could harm our stakeholders, our reputation and our business. Additionally, we face risks of competitive disadvantage if our competitors are able to more effectively use AI to create products or services at a lower cost or higher quality compared to PPG’s competing products or services.
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New in the latest 10-Q
12 paragraphs in the 10-Q filed Oct 28, 2026 with nothing like them in the 10-Q filed Jul 29, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
In December 2024, PPG completed the sale of 100 % of its architectural coatings business in the U.S. and Canada to American Industrial Partners (AIP), an industrials investor. The results of the U.S. and Canada architectural coatings business were previously included in the Performance Coatings segment.
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Three Months Ended September 30, 2026 September 30, 2025 Caption In Condensed Consolidated Statement of Income ($ in millions) Gain Deferred in OCI Gain/(Loss) Recognized Gain Deferred in OCI Gain/(Loss) Recognized ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Economic Foreign currency forward contracts $— $— $— $7 Other (income)/charges, net Fair Value Interest rate swaps — (1) — (2) Interest expense Total forward contracts and interest rate swaps $— ($1) $— $5 Net Investment Foreign currency forward contracts $9 $— $— $— Cross currency swaps 2 1 3 2 Interest expense Foreign denominated debt 43 — 21 — Total Net Investment $54 $1 $24 $2
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Nine Months Ended September 30, 2026 September 30, 2025 Caption In Condensed Consolidated Statement of Income ($ in millions) Gain Deferred in OCI Gain/(Loss) Recognized Loss Deferred in OCI Gain/(Loss) Recognized ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Economic Foreign currency forward contracts $— $24 $— $66 Other (income)/charges, net Fair Value Interest rate swaps — (3) — (5) Interest expense Total forward contracts and interest rate swaps $— $21 $— $61 Net Investment Foreign currency forward contracts $9 $— $— $— Cross currency swaps 10 5 (39) 6 Interest expense Foreign denominated debt 172 — (532) — Total Net Investment $191 $5 ($571) $6
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(d) In the third quarter 2026, the Company recorded a net charge related to the anticipated resolution of an outstanding tax matter that includes both income taxes and non-income taxes.
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(c) In the third quarter 2026, the Company recorded a net charge related to the anticipated resolution of an outstanding tax matter that includes both income taxes and non-income taxes.
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the segment in the range of a low single-digit percentage decline to growth of a low single-digit percentage year over year.
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Market risk
the value of these instruments by $36 million and $40 million at September 30, 2026 and December 31, 2025, respectively.
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Other information
The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our directors and executive officers during the three months ended September 30, 2026, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), referred to as Rule 10b5-1 trading plans:
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Name and Title Action Date of Action Scheduled Expiration Date (1) Aggregate Number of Securities to be Purchased or Sold (2)
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Kevin D. Braun, Adopt 8/27/2026 11/19/2027 Sale of up to 7,650 shares of common stock upon the exercise of stock options if the market price of the Company's common stock exceeds certain specified price targets.
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1. This trading plan may also expire prior to the scheduled expiration date if all transactions under the trading plan are completed before the scheduled expiration date.
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2. Aggregate number of shares in this column includes shares that may be forfeited or withheld to satisfy exercise price and tax obligations at the time of exercise.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 28, 2026 against Item 1A of the 10-K filed Feb 19, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
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There were no material changes in the Company’s risk factors from the risks disclosed in the 2025 Form 10-K.
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.
Work on PPG in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
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