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Sherwin Williams Co (SHW) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Sherwin Williams Co

CIK: 89800 Ticker: SHW

 

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Exhibit 99

 

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The Sherwin-Williams Company                       101 W. Prospect Avenue                      Cleveland, Ohio 44115                      (216) 566-2000

The Sherwin-Williams Company Reports 2020 Year-end and Fourth Quarter Financial Results

 

   

Consolidated net sales for the year increased 2.6% to a record $18.36 billion and increased 9.1% in the quarter to a record $4.49 billion

 

   

Net sales from stores in U.S. and Canada open more than twelve calendar months increased 2.7% in the year and 9.3% in the quarter

 

   

Full year diluted net income per share increased 33.9% to $22.08 per share compared to $16.49 per share in full year 2019

 

   

Excluding the impact of acquisition-related amortization expense, diluted net income per share increased 16.4% to $24.58 per share in the full year versus $21.12 per share in full year 2019, excluding the impact of acquisition-related costs and other adjustments

 

   

Full year net operating cash increased $1.09 billion to a record $3.41 billion, or 18.6% of sales

 

   

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased 18.4% in the year to $3.44 billion, or 18.7% of sales

 

   

The Company anticipates diluted net income per share for 2021 in the range of $23.87 to $24.67 per share, including acquisition-related amortization expense of $2.53 per share

CLEVELAND, January 28, 2021—The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the year and fourth quarter ended December 31, 2020. Compared to the same period in 2019, full year consolidated net sales increased $460.9 million, or 2.6%, to $18.36 billion due primarily to higher sales to most of the Consumer Brands Group’s retail customers in the U.S. and Europe, and higher sales in residential repaint, DIY and new residential in the U.S. and Canada paint stores in The Americas Group, partially offset by the impacts of

COVID-19 on some end markets primarily served by the Performance Coatings Group. Currency translation rate changes reduced consolidated net sales for the year by 1.1%. Consolidated net sales in the quarter increased $374.4 million, or 9.1%, to $4.49 billion primarily due to higher paint sales volume in The Americas Group and higher sales in the Consumer Brands Group and Performance Coatings Group.

Diluted net income per share in the year increased to $22.08 per share from $16.49 per share for 2019. Full year 2020 included a charge of $2.50 per share for acquisition-related amortization expense. Full year 2019 included charges of $2.52 per share for acquisition-related amortization expense, $0.69 per share for integration costs, $1.00 per share for non-cash indefinite-lived trademark impairments, $0.79 per share for a tax credit investment loss and $0.27 per share for pension settlement expense, partially offset by benefits of $0.36 per share for a Brazil indirect tax credit and $0.28 per share from the resolution of the California litigation.


The following information was filed by Sherwin Williams Co (SHW) on Thursday, January 28, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Sherwin Williams Co's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Accumulated Other Comprehensive Loss
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Comprehensive Income
Statements Of Consolidated Comprehensive Income (Parenthetical)
Statements Of Consolidated Income
Statements Of Consolidated Shareholders' Equity
Statements Of Consolidated Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisitions And Divestitures
Acquisitions And Divestitures - Narrative (Details)
Capital Stock
Capital Stock (Tables)
Capital Stock - Common Shares In Treasury And Common Shares Outstanding (Details)
Capital Stock - Narrative (Details)
Debt
Debt (Tables)
Debt - Long-Term Borrowings (Details)
Debt - Long-Term Debt (Details)
Debt - Short-Term Borrowings (Details)
Derivatives And Hedging
Derivatives And Hedging (Details)
Esop
Esop (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Carrying Amount And Fair Value Of Debt (Details)
Goodwill, Intangible And Long-Lived Assets
Goodwill, Intangible And Long-Lived Assets (Tables)
Goodwill, Intangible And Long-Lived Assets - Narrative (Details)
Goodwill, Intangible And Long-Lived Assets - Property Plant Equipment, Net (Details)
Goodwill, Intangible And Long-Lived Assets - Summary Of Changes In The Carrying Value Of Goodwill By Reportable Segment (Details)
Goodwill, Intangible And Long-Lived Assets - Summary Of The Carrying Value Of Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits (Details)
Income Taxes - Reconciliation Of The Statutory Federal Income Tax Rate To The Effective Tax Rate (Details)
Income Taxes - Significant Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Significant Components Of Income Before Income Taxes As Used For Income Tax Purposes (Details)
Income Taxes - Significant Components Of The Provisions For Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Inventories - Fifo (Details)
Leases
Leases (Tables)
Leases - Additional Lease Information (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Litigation
Litigation (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
Other Expense (Income)
Other Expense (Income) (Tables)
Other Expense (Income) - Narrative (Details)
Other Expense (Income) - Other Expense, Net (Details)
Other Expense (Income) - Other General Expense, Net (Details)
Other Long-Term Liabilities
Other Long-Term Liabilities (Details)
Pension, Health Care And Other Postretirement Benefits
Pension, Health Care And Other Postretirement Benefits (Tables)
Pension, Health Care And Other Postretirement Benefits - Expected Retiree Health Care Benefit Cash Payments (Details)
Pension, Health Care And Other Postretirement Benefits - Narrative (Details)
Pension, Health Care And Other Postretirement Benefits - Summary Of The Components Of Net Periodic Benefit Cost And Cumulative Other Comprehensive Loss Related To Postretirement Benefits Other Than Pensions (Details)
Pension, Health Care And Other Postretirement Benefits - Summary Of The Components Of The Net Pension Costs And Cumulative Other Comprehensive Loss Related To The Defined Benefit Pension Plans (Details)
Pension, Health Care And Other Postretirement Benefits - Summary Of The Fair Value Of The Defined Benefit Pension Plan Assets (Details)
Pension, Health Care And Other Postretirement Benefits - Summary Of The Obligation And The Assumptions Used For Postretirement Benefits Other Than Pensions (Details)
Pension, Health Care And Other Postretirement Benefits - Summary Of The Obligations, Plan Assets And Assumptions Used For Defined Benefit Pension Plans (Details)
Recently Issued Accounting Pronouncements
Reportable Segment Information
Reportable Segment Information (Tables)
Reportable Segment Information - Narrative (Details)
Reportable Segment Information - Reportable Segment Financial Information (Details)
Revenue
Revenue (Tables)
Revenue - Accounts Receivable And Current And Long-Term Contract Assets And Liabilities (Details)
Revenue - Allowance For Doubtful Accounts (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Changes In Product Warranty Accruals (Details)
Significant Accounting Policies - Classes Of Assets And Ranges Of Annual Depreciation Rates (Details)
Significant Accounting Policies - Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Summary Of Non-Qualified And Incentive Stock Option Right Activity (Details)
Stock-Based Compensation - Summary Of Rsu Activity (Details)
Stock-Based Compensation - Weighted-Average Assumptions Used For Estimating The Fair Value Of Option Rights (Details)
Summary Of Quarterly Results Of Operations (Unaudited)
Summary Of Quarterly Results Of Operations (Unaudited) (Details)
Summary Of Quarterly Results Of Operations (Unaudited) (Tables)
Valuation And Qualifying Accounts And Reserves (Schedule Ii)
Valuation And Qualifying Accounts And Reserves (Schedule Ii) (Details)
Ticker: SHW
CIK: 89800
Form Type: 10-K Annual Report
Accession Number: 0000089800-21-000010
Submitted to the SEC: Fri Feb 19 2021 11:42:20 AM EST
Accepted by the SEC: Fri Feb 19 2021
Period: Thursday, December 31, 2020
Industry: Retail Building Materials Hardware Garden Supply

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