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Accounting Policies Impact of Accounting Standards (Tables)
9 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The recasted impact of the adoptions of ASC 606 and ASU 2017-07 to our previously reported operating results and basic and diluted income per share was as follows, in millions (except per common share data):
 
Year Ended December 31, 2016
 
Net Sales
 
Operating Profit (Loss)
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Operations by segment:
 
 
 
 
 
 
 
Plumbing Products
$
3,526

 
$
3,529

 
$
642

 
$
654

Decorative Architectural Products
2,092

 
2,092

 
430

 
433

Cabinetry Products
970

 
970

 
93

 
97

Windows and Other Specialty Products
769

 
770

 
(3
)
 
(3
)
Total
$
7,357

 
$
7,361

 
1,162

 
1,181

General corporate expense, net
 
 
 
 
(109
)
 
(94
)
Operating profit
 
 
 
 
$
1,053

 
$
1,087

 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
December 31, 2016
 
 
 
 
 
As Reported
 
As Recasted
Net income attributable to Masco Corporation
 
 
 
 
$
491

 
$
493

Income per common share attributable to Masco Corporation:
 
 
 
 
Basic:
 
 
 
 
$
1.49

 
$
1.49

Diluted:
 
 
 
 
$
1.47

 
$
1.48




A. ACCOUNTING POLICIES (Continued)
 
Three Months Ended March 31, 2017
 
Net Sales
 
Operating Profit (Loss)
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Operations by segment:
 
 
 
 
 
 
 
Plumbing Products
$
863

 
$
872

 
$
156

 
$
162

Decorative Architectural Products
505

 
496

 
101

 
94

Cabinetry Products
231

 
231

 
16

 
16

Windows and Other Specialty Products
178

 
179

 
6

 
8

Total
$
1,777

 
$
1,778

 
279

 
280

General corporate expense, net
 
 
 
 
(26
)
 
(23
)
Operating profit
 
 
 
 
$
253

 
$
257

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
March 31, 2017
 
 
 
 
 
As Reported
 
As Recasted
Net income attributable to Masco Corporation
 
 
 
 
$
140

 
$
138

Income per common share attributable to Masco Corporation:
 
 
 
 
Basic:
 
 
 
 
$
0.44

 
$
0.43

Diluted:
 
 
 
 
$
0.43

 
$
0.43


 
Three Months Ended June 30, 2017
 
Six Months Ended June 30, 2017
 
Net Sales
 
Operating Profit (Loss)
 
Net Sales
 
Operating Profit (Loss)
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Operations by segment:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Plumbing Products
$
949

 
$
949

 
$
198

 
$
200

 
$
1,812

 
$
1,821

 
$
354

 
$
362

Decorative Architectural Products
653

 
661

 
141

 
149

 
1,158

 
1,157

 
242

 
243

Cabinetry Products
251

 
251

 
30

 
31

 
482

 
482

 
46

 
47

Windows and Other Specialty Products
204

 
205

 
18

 
18

 
382

 
384

 
24

 
26

Total
$
2,057

 
$
2,066

 
387

 
398

 
$
3,834

 
$
3,844

 
666

 
678

General corporate expense, net
 

 
 

 
(30
)
 
(26
)
 
 
 
 
 
(56
)
 
(49
)
Operating profit
 

 
 

 
$
357

 
$
372

 
 
 
 
 
$
610

 
$
629

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
June 30, 2017
 
Six Months Ended
June 30, 2017
 
 
 
 
 
 
 
 
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Net income attributable to Masco Corporation
 
$
158

 
$
163

 
$
298

 
$
301

Income per common share attributable to Masco Corporation:
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
$
0.50

 
$
0.51

 
$
0.93

 
$
0.94

Diluted:
 
 
 
 
 
 
 
 
$
0.49

 
$
0.51

 
$
0.92

 
$
0.93







A. ACCOUNTING POLICIES (Continued)
 
Three Months Ended September 30, 2017
 
Nine Months Ended September 30, 2017
 
Net Sales
 
Operating Profit (Loss)
 
Net Sales
 
Operating Profit (Loss)
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Operations by segment:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Plumbing Products
$
951

 
$
950

 
$
175

 
$
175

 
$
2,763

 
$
2,771

 
$
529

 
$
537

Decorative Architectural Products
553

 
562

 
104

 
112

 
1,711

 
1,719

 
346

 
355

Cabinetry Products
229

 
229

 
19

 
20

 
711

 
711

 
65

 
67

Windows and Other Specialty Products
203

 
204

 
23

 
24

 
585

 
588

 
47

 
50

Total
$
1,936

 
$
1,945

 
321

 
331

 
$
5,770

 
$
5,789

 
987

 
1,009

General corporate expense, net
 

 
 

 
(26
)
 
(22
)
 
 
 
 
 
(82
)
 
(71
)
Operating profit
 

 
 

 
$
295

 
$
309

 
 
 
 
 
$
905

 
$
938

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September 30, 2017
 
Nine Months Ended
September 30, 2017
 
 
 
 
 
 
 
 
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Net income attributable to Masco Corporation
 
$
148

 
$
152

 
$
446

 
$
453

Income per common share attributable to Masco Corporation:
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
$
0.47

 
$
0.48

 
$
1.40

 
$
1.42

Diluted:
 
 
 
 
 
 
 
 
$
0.46

 
$
0.48

 
$
1.38

 
$
1.41


 
Three Months Ended December 31, 2017
 
Year Ended December 31, 2017
 
Net Sales
 
Operating Profit (Loss)
 
Net Sales
 
Operating Profit (Loss)
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Operations by segment:
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
Plumbing Products
$
972

 
$
961

 
$
169

 
$
165

 
$
3,735

 
$
3,732

 
$
698

 
$
702

Decorative Architectural Products
494

 
487

 
88

 
83

 
2,205

 
2,206

 
434

 
438

Cabinetry Products
223

 
223

 
25

 
25

 
934

 
934

 
90

 
92

Windows and Other Specialty Products
185

 
182

 
5

 
4

 
770

 
770

 
52

 
54

Total
$
1,874

 
$
1,853

 
287

 
277

 
$
7,644

 
$
7,642

 
1,274

 
1,286

General corporate expense, net
 

 
 

 
(23
)
 
(21
)
 
 
 
 
 
(105
)
 
(92
)
Operating profit
 

 
 

 
$
264

 
$
256

 
 
 
 
 
$
1,169

 
$
1,194

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2017
 
Year Ended
December 31, 2017
 
 
 
 
 
 
 
 
 
As Reported
 
As Recasted
 
As Reported
 
As Recasted
Net income attributable to Masco Corporation
 
$
87

 
$
80

 
$
533

 
$
533

Income per common share attributable to Masco Corporation:
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
$
0.28

 
$
0.25

 
$
1.68

 
$
1.68

Diluted:
 
 
 
 
 
 
 
 
$
0.27

 
$
0.25

 
$
1.66

 
$
1.66