SEC Document

RPM INTERNATIONAL INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

 

NOTE 13 – EQUITY

The following tables illustrate the components of total equity and comprehensive income for the three months ended August 31, 2017 and 2016:

 

(In thousands)

 

Total RPM

International

Inc. Equity

 

 

Noncontrolling

Interest

 

 

Total Equity

 

Total equity at May 31, 2017

 

$

1,436,061

 

 

$

2,639

 

 

$

1,438,700

 

Net income

 

 

116,416

 

 

 

487

 

 

 

116,903

 

Other Comprehensive Income:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

44,447

 

 

 

31

 

 

 

44,478

 

Pension and other postretirement benefit liability

   adjustments, net of tax

 

 

629

 

 

 

 

 

 

 

629

 

Unrealized (loss) on securities, net of tax

 

 

(78

)

 

 

 

 

 

 

(78

)

Unrealized (loss) on derivatives, net of tax

 

 

(394

)

 

 

 

 

 

 

(394

)

Total Other Comprehensive Income, net of tax

 

 

44,604

 

 

 

31

 

 

 

44,635

 

Comprehensive Income

 

 

161,020

 

 

 

518

 

 

 

161,538

 

Dividends paid

 

 

(40,089

)

 

 

 

 

 

 

(40,089

)

Other noncontrolling interest activity

 

 

 

 

 

 

(65

)

 

 

(65

)

Shares repurchased and returned for taxes

 

 

(5,346

)

 

 

 

 

 

 

(5,346

)

Stock based compensation expense

 

 

7,465

 

 

 

 

 

 

 

7,465

 

Total Equity at August 31, 2017

 

$

1,559,111

 

 

$

3,092

 

 

$

1,562,203

 

 

(In thousands)

 

Total RPM

International

Inc. Equity

 

 

Noncontrolling

Interest

 

 

Total Equity

 

Total equity at May 31, 2016

 

$

1,372,335

 

 

$

2,413

 

 

$

1,374,748

 

Net income

 

 

112,769

 

 

 

625

 

 

 

113,394

 

Other Comprehensive Income:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

(11,511

)

 

 

 

 

 

 

(11,511

)

Pension and other postretirement benefit liability

   adjustments, net of tax

 

 

5,704

 

 

 

 

 

 

 

5,704

 

Unrealized gain on securities, net of tax

 

 

1,604

 

 

 

 

 

 

 

1,604

 

Total Other Comprehensive (Loss), net of tax

 

 

(4,203

)

 

 

-

 

 

 

(4,203

)

Comprehensive Income (Loss)

 

 

108,566

 

 

 

625

 

 

 

109,191

 

Dividends paid

 

 

(36,529

)

 

 

 

 

 

 

(36,529

)

Other noncontrolling interest activity

 

 

 

 

 

 

(912

)

 

 

(912

)

Shares repurchased and returned for taxes

 

 

(17,105

)

 

 

 

 

 

 

(17,105

)

Stock based compensation expense

 

 

8,171

 

 

 

 

 

 

 

8,171

 

Total Equity at August 31, 2016

 

$

1,435,438

 

 

$

2,126

 

 

$

1,437,564

 

 

 

 

 

NOTE 14 — SEGMENT INFORMATION

We operate a portfolio of businesses and product lines that manufacture and sell a variety of specialty paints, protective coatings and roofing systems, sealants and adhesives. We manage our portfolio by organizing our businesses and product lines into three reportable segments: the industrial reportable segment, the consumer reportable segment and the specialty reportable segment. Within each reportable segment, we aggregate operating segments or product lines that consist of individual companies or groups of companies and product lines, which generally address common markets, share similar economic characteristics, utilize similar technologies and can share manufacturing or distribution capabilities. Our seven operating segments represent components of our business for which separate financial information is available that is utilized on a regular basis by our chief operating decision maker in determining how to allocate the assets of the company and evaluate performance. These seven operating segments are each managed by an operating segment manager, who is responsible for the day-to-day operating decisions and performance evaluation of the operating segment’s underlying businesses.

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