Reportable Segment Information (Tables)

9 Months Ended

Sep. 30, 2014



(Thousands of dollars)	Three Months Ended September 30, 2014
	Paint Stores Group		Consumer Group			Global Finishes Group		Latin America Coatings Group		Administrative			Consolidated Totals
Net external sales	$	2,027,485	$	385,238		$	536,261	$	200,367	$	1,219		$	3,150,570
Intersegment transfers			802,249			2,097		10,297		(814,643		)
Total net sales and intersegment transfers	$	2,027,485	$	1,187,487		$	538,358	$	210,664	$	(813,424	)	$	3,150,570

Segment profit	$	431,840	$	78,956	⁽¹⁾	$	60,751	$	11,792				$	583,339
Interest expense										$	(16,025	)	(16,025		)
Administrative expenses and other										(93,266		)	(93,266		)
Income before income taxes	$	431,840	$	78,956		$	60,751	$	11,792	$	(109,291	)	$	474,048



	Three Months Ended September 30, 2013
	Paint Stores Group		Consumer Group			Global Finishes Group		Latin America Coatings Group			Administrative			Consolidated Totals
Net external sales	$	1,763,404	$	366,845		$	507,284	$	208,645		$	1,239		$	2,847,417
Intersegment transfers			689,319			2,437		9,170			(700,926		)
Total net sales and intersegment transfers	$	1,763,404	$	1,056,164		$	509,721	$	217,815		$	(699,687	)	$	2,847,417

Segment profit	$	359,352	$	73,065	⁽¹⁾	$	44,536	$	(983	)				$	475,970
Interest expense											$	(15,394	)	(15,394		)
Administrative expenses and other											(73,114		)	(73,114		)
Income before income taxes	$	359,352	$	73,065		$	44,536	$	(983	)	$	(88,508	)	$	387,462

⁽¹⁾ Segment profit includes $9,064 and $8,340 of mark-up on intersegment transfers realized as a result of external sales by the Paint Stores Group during the third quarter of 2014 and 2013, respectively.



	Nine Months Ended September 30, 2014
	Paint Stores Group		Consumer Group			Global Finishes Group		Latin America Coatings Group		Administrative			Consolidated Totals
Net external sales	$	5,270,080	$	1,143,893		$	1,578,497	$	563,975	$	3,676		$	8,560,121
Intersegment transfers			2,114,891			5,712		30,346		(2,150,949		)
Total net sales and intersegment transfers	$	5,270,080	$	3,258,784		$	1,584,209	$	594,321	$	(2,147,273	)	$	8,560,121

Segment profit	$	953,962	$	222,532	⁽²⁾	$	162,093	$	27,439				$	1,366,026
Interest expense										$	(48,793	)	(48,793		)
Administrative expenses and other										(247,878		)	(247,878		)
Income before income taxes	$	953,962	$	222,532		$	162,093	$	27,439	$	(296,671	)	$	1,069,355



	Nine Months Ended September 30, 2013
	Paint Stores Group		Consumer Group			Global Finishes Group		Latin America Coatings Group		Administrative			Consolidated Totals
Net external sales	$	4,537,849	$	1,069,085		$	1,507,626	$	610,271	$	3,643		$	7,728,474
Intersegment transfers			1,855,226			7,469		29,081		(1,891,776		)
Total net sales and intersegment transfers	$	4,537,849	$	2,924,311		$	1,515,095	$	639,352	$	(1,888,133	)	$	7,728,474

Segment profit	$	822,037	$	206,079	⁽²⁾	$	132,929	$	20,712				$	1,181,757
Interest expense										$	(45,774	)	(45,774		)
Administrative expenses and other										(199,253		)	(199,253		)
Income before income taxes	$	822,037	$	206,079		$	132,929	$	20,712	$	(245,027	)	$	936,730

⁽²⁾ Segment profit includes $24,389 and $22,618 of mark-up on intersegment transfers realized as a result of external sales by the Paint Stores Group during the first nine months of 2014 and 2013, respectively.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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