SHERWIN WILLIAMS CO (SHW) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
The Americas	12,661.0	11,217.0	10,383.2	10,171.9	9,625.6	9,117.3	8,416.0	7,880.0
Performance Coatings	6,997.2	6,153.5	5,059.5	5,165.4	5,188.8	3,706.1	1,961.0	1,921.0
Corporate & Eliminations	5,712.4	4,561.5	3,825.5	3,723.2		3,190.5
Consumer Brands	8,199.4	7,133.4	6,741.8	6,283.8	6,199.3	2,154.7	4,303.0	4,314.0
Total revenues	22,148.9	19,944.6	18,361.7	17,900.8	17,534.5	14,983.8	11,856.0	11,339.3
Revenue growth [+]	11.1%	8.6%	2.6%	2.1%	17.0%	26.4%	4.6%	1.9%
The Americas	12.9%	8.0%	2.1%	5.7%	5.6%	8.3%	6.8%
Performance Coatings	13.7%	21.6%	-2.1%	-0.5%	40.0%	89.0%	2.1%
Corporate & Eliminations	25.2%	19.2%	2.7%
Consumer Brands	14.9%	5.8%	7.3%	1.4%	187.7%	-49.9%	-0.3%
Cost of goods sold	12,823.8	11,401.9	9,679.1	9,864.7	10,115.9	8,265.0	5,934.3	5,779.7
Gross profit	9,325.1	8,542.7	8,682.6	8,036.1	7,418.6	6,718.8	5,921.7	5,559.6
Gross margin	42.1%	42.8%	47.3%	44.9%	42.3%	44.8%	49.9%	49.0%
Selling, general and administrative	6,014.5	5,572.5	5,477.9	5,274.9	5,033.8	4,797.6	4,140.3	3,885.7
Other operating expenses	292.2	440.3	385.8	332.9	665.3	145.2	63.4	40.7
EBITDA [+]	3,599.5	3,102.5	3,400.3	3,003.2	2,315.8	2,267.8	1,915.4	1,831.8
EBITDA growth	16.0%	-8.8%	13.2%	29.7%	2.1%	18.4%	4.6%	26.8%
EBITDA margin	16.3%	15.6%	18.5%	16.8%	13.2%	15.1%	16.2%	16.2%
Depreciation	264.0	263.1	268.0	262.1	278.2	285.0	172.1	170.3
EBITA	3,335.5	2,839.4	3,132.3	2,741.1	2,037.6	1,982.8	1,743.4	1,661.5
EBITA margin	15.1%	14.2%	17.1%	15.3%	11.6%	13.2%	14.7%	14.7%
Amortization of intangibles	317.1	309.5	313.4	312.8	318.1	206.8	25.4	28.2
EBIT [+]	3,018.4	2,529.9	2,818.9	2,428.3	1,719.5	1,776.0	1,718.0	1,633.2
EBIT growth	19.3%	-10.3%	16.1%	41.2%	-3.2%	3.4%	5.2%	31.1%
EBIT margin	13.6%	12.7%	15.4%	13.6%	9.8%	11.9%	14.5%	14.4%
Non-recurring items [+]	15.5		2.3	122.1		2.0	10.7
Asset impairment	15.5		2.3	122.1		2.0	10.7
Interest expense, net [+]	382.8	329.8	336.8	349.3	366.7	263.5	149.1	60.4
Interest expense	390.8	334.7	340.4	349.3	366.7	263.5	154.1	61.8
Interest income	8.0	4.9	3.6				5.0	1.4
Other income (expense), net	-47.0	48.5	39.4	24.9	6.9	-41.2	37.1	-23.9
Pre-tax income	2,573.1	2,248.6	2,519.2	1,981.8	1,359.7	1,469.3	1,595.2	1,549.0
Income taxes	553.0	384.2	488.8	440.5	251.0	-300.2	462.5	495.1
Tax rate	21.5%	17.1%	19.4%	22.2%	18.5%		29.0%	32.0%
Earnings from continuing ops	2,020.1	1,864.4	2,030.4	1,541.3	1,108.7	1,769.5	1,132.7	1,053.8
Earnings from discontinued ops						0.0	1,132.7
Net income	2,020.1	1,864.4	2,030.4	1,541.3	1,108.7	1,727.9	1,132.7	1,053.8
Net margin	9.1%	9.3%	11.1%	8.6%	6.3%	11.5%	9.6%	9.3%

Basic EPS [+]	$7.83	$7.10	$7.48	$5.60	$11.92	$19.05	$12.33	$11.43
Growth	10.2%	-5.1%	33.7%	-53.1%	-37.4%	54.4%	7.9%	27.0%
Diluted EPS [+]	$7.72	$6.98	$7.36	$5.50	$11.67	$18.64	$11.99	$11.15
Growth	10.5%	-5.2%	33.9%	-52.9%	-37.4%	55.5%	7.5%	27.1%

Dividends per share [+]	$2.40	$2.20	$1.79	$1.51	$3.44	$3.40	$3.36	$2.68
Growth	9.1%	23.1%	18.6%	-56.2%	1.2%	1.2%	25.4%	19.8%

Shares outstanding (basic) [+]	258.0	262.5	271.3	275.4	93.0	92.9	91.8	92.2
Growth	-1.7%	-3.2%	-1.5%	196.2%	0.1%	1.2%	-0.4%	-4.2%
Shares outstanding (diluted) [+]	261.8	267.1	275.8	280.3	95.0	94.9	94.5	94.5
Growth	-2.0%	-3.2%	-1.6%	195.1%	0.1%	0.5%	-0.1%	-4.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.