SEC Document

 

PART I. – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

RPM INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except per share amounts)

 

 

 

August 31, 2017

 

 

May 31, 2017

 

Assets

 

 

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

236,191

 

 

$

350,497

 

Trade accounts receivable (less allowances of

 

 

 

 

 

 

 

 

   $45,063 and $44,138, respectively)

 

 

1,015,084

 

 

 

995,330

 

Inventories

 

 

851,312

 

 

 

788,197

 

Prepaid expenses and other current assets

 

 

260,361

 

 

 

263,412

 

Total current assets

 

 

2,362,948

 

 

 

2,397,436

 

Property, Plant and Equipment, at Cost

 

 

1,526,565

 

 

 

1,484,579

 

Allowance for depreciation

 

 

(770,692

)

 

 

(741,893

)

Property, plant and equipment, net

 

 

755,873

 

 

 

742,686

 

Other Assets

 

 

 

 

 

 

 

 

Goodwill

 

 

1,169,083

 

 

 

1,143,913

 

Other intangible assets, net of amortization

 

 

587,274

 

 

 

573,092

 

Deferred income taxes

 

 

22,126

 

 

 

19,793

 

Other

 

 

211,612

 

 

 

213,529

 

Total other assets

 

 

1,990,095

 

 

 

1,950,327

 

Total Assets

 

$

5,108,916

 

 

$

5,090,449

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

469,954

 

 

$

534,718

 

Current portion of long-term debt

 

 

254,061

 

 

 

253,645

 

Accrued compensation and benefits

 

 

115,124

 

 

 

181,084

 

Accrued losses

 

 

26,406

 

 

 

31,735

 

Other accrued liabilities

 

 

229,602

 

 

 

234,212

 

Total current liabilities

 

 

1,095,147

 

 

 

1,235,394

 

Long-Term Liabilities

 

 

 

 

 

 

 

 

Long-term debt, less current maturities

 

 

1,868,229

 

 

 

1,836,437

 

Other long-term liabilities

 

 

491,677

 

 

 

482,491

 

Deferred income taxes

 

 

91,660

 

 

 

97,427

 

Total long-term liabilities

 

 

2,451,566

 

 

 

2,416,355

 

Commitments and contingencies (Note 12)

 

 

 

 

 

 

 

 

Stockholders' Equity

 

 

 

 

 

 

 

 

Preferred stock, par value $0.01; authorized 50,000 shares; none issued

 

 

-

 

 

 

-

 

Common stock, par value $0.01; authorized 300,000 shares; issued 141,326 and

   outstanding 133,537 as of  August 31, 2017;  issued 141,242 and outstanding 133,563 as

   of May 31, 2017

 

 

1,335

 

 

 

1,336

 

Paid-in capital

 

 

961,956

 

 

 

954,491

 

Treasury stock, at cost

 

 

(223,567

)

 

 

(218,222

)

Accumulated other comprehensive (loss)

 

 

(429,382

)

 

 

(473,986

)

Retained earnings

 

 

1,248,769

 

 

 

1,172,442

 

Total RPM International Inc. stockholders' equity

 

 

1,559,111

 

 

 

1,436,061

 

Noncontrolling Interest

 

 

3,092

 

 

 

2,639

 

Total equity

 

 

1,562,203

 

 

 

1,438,700

 

Total Liabilities and Stockholders' Equity

 

$

5,108,916

 

 

$

5,090,449

 

 

The accompanying notes to consolidated financial statements are an integral part of these statements.

 

 

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