SEC Document


CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

 

Year Ended May 31,    2017        2016        2015    

Net Sales

   $     4,958,175        $     4,813,649        $     4,594,550    

Cost of Sales

     2,792,487          2,726,601          2,653,181    

Gross Profit

     2,165,688          2,087,048          1,941,369    

Selling, General and Administrative Expenses

     1,643,520          1,520,977          1,422,944    

Goodwill and Other Intangible Asset Impairments

     193,198          

Interest Expense

     96,954          91,683          87,615    

Investment (Income), Net

     (13,984)         (10,365)         (18,577)   

Other Expense (Income), Net

     1,667          1,287          (3,866)   

Income Before Income Taxes

     244,333          483,466          453,253    

Provision for Income Taxes

     59,662          126,008          224,925    

Net Income

     184,671          357,458          228,328    

Less: Net Income (Loss) Attributable to Noncontrolling Interests

     2,848          2,733          (11,156)   

Net Income Attributable to RPM International Inc. Stockholders

   $ 181,823        $ 354,725        $ 239,484    

Average Number of Shares of Common Stock Outstanding:

        

Basic

     130,662          129,383          129,933    

Diluted

     135,165          136,716          134,893    

Earnings per Share of Common Stock Attributable to RPM International Inc. Stockholders:

        

Basic

   $ 1.37        $ 2.70        $ 1.81    

Diluted

   $ 1.36        $ 2.63        $ 1.78    

Cash Dividends Declared per Share of Common Stock

   $ 1.175        $ 1.085        $ 1.020    

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

 

Year Ended May 31,    2017        2016        2015    

Net Income

   $        184,671        $        357,458        $        228,328    

Other Comprehensive Income, Before Tax:

        

Foreign Currency Translation Adjustments

     (20,402)         (65,607)         (222,255)   

Pension and Other Postretirement Benefit Liabilities

        

Net (Loss) Gain Arising During the Period

     38,679          (83,770)         (34,949)   

Prior Service Cost Arising During the Period

     196          349          -    

Less: Amortization of Prior Service Cost Included in Net Periodic Pension Cost

     (41)         (6)         86    

Less: Amortization of Net Loss and Settlement Recognition

     25,444          18,898          16,149    

Effect of Exchange Rates on Amounts Included for Pensions

     1,986          2,009          8,842    

Pension and Other Postretirement Benefit Liability Adjustments

     66,264          (62,520)         (9,872)   

Unrealized Gains on Available-For-Sale Securities

        

Unrealized Holding (Losses) Gains During the Period

     8,250          (9,049)         (2,025)   

Less: Reclassification Adjustments for (Gains) Included in Net Income

     (2,248)         (2,793)         (6,068)   

Unrealized Gain (Loss) on Securities

     6,002          (11,842)         (8,093)   

Unrealized (Loss) on Derivatives

     16          -          (946)   

Other Comprehensive (Loss) Income, Before Tax

     51,880          (139,969)         (241,166)   

Income Tax Expense (Benefit) Related to Components of Other Comprehensive Income

     (23,863)         32,030          8,927    

Other Comprehensive (Loss) Income, After Tax

     28,017          (107,939)         (232,239)   

Comprehensive (Loss) Income

     212,688          249,519          (3,911)   

Less: Comprehensive (Loss) Income Attributable to Noncontrolling Interests

     2,804          2,706          (15,742)   

Comprehensive Income Attributable to RPM International Inc. Stockholders

   $ 209,884        $ 246,813        $ 11,831    

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

 

32    RPM International Inc. and Subsidiaries


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