SEC Document


Table of Contents

Summary Historical Consolidated Financial Information

The following information sets forth summary historical consolidated financial information of RPM International Inc. for the periods presented. We derived the summary historical consolidated financial information presented below for each of the five fiscal years in the period ended May 31, 2017 from our audited consolidated financial statements and our 2017 Annual Report to Stockholders. The information as of and for the three months ended August 31, 2016 and August 31, 2017 was derived from our unaudited interim consolidated financial statements and includes, in the opinion of management, all normal and recurring adjustments necessary to present fairly the information for such periods. The results of operations for the three months ended August 31, 2016 and August 31, 2017 are not necessarily indicative of the results to be expected for the fiscal year ending May 31, 2018.

You should read the financial information presented below in conjunction with the respective audited and unaudited consolidated financial statements and related notes, “Management’s Discussion and Analysis of Results of Operations and Financial Condition” and other financial information contained in our Annual Report on Form 10-K for the year ended May 31, 2017 and our Quarterly Report on Form 10-Q for the quarter ended August 31, 2017, which are incorporated by reference in this prospectus supplement and the accompanying prospectus. See the section entitled “Where You Can Find More Information” in this prospectus supplement.

 

     Fiscal Years Ended May 31,     Three Months
Ended
August 31,
 
     2013(e)     2014     2015     2016     2017     2016     2017  
     (In millions, except per share amounts and percentages)     (Unaudited)  

Statement of Operations Data:

              

Net sales

   $ 4,078.7     $ 4,376.4     $ 4,594.6     $ 4,813.6     $ 4,958.2     $ 1,252.1     $ 1,345.4  

Cost of sales

     2,376.0       2,500.6       2,653.2       2,726.6       2,792.5       700.1       773.4  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     1,702.7       1,875.8       1,941.4       2,087.0       2,165.7       552.0       572.0  

Selling, general and administrative expenses(a)

     1,309.3       1,390.1       1,422.9       1,520.9       1,643.5       384.1       394.4  

Estimated loss contingency

     65.1       —           —           —           —           —           —      

Restructuring Expense

     20.1       —           —           —           —           —           —      

Goodwill and other intangible asset impairments

     —           —           —           —           193.2       —           —      

Other (income) expense, net

     57.7       (4.0     (3.8     1.3       1.7       0.5       —      

Interest expense

     79.8       80.9       87.6       91.7       97.0       22.7       26.8  

Investment (income) expense, net

     (6.2     (15.7     (18.6     (10.4     (14.0     (3.8     (4.5
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes

     176.9       424.5       453.3       483.5       244.3       148.5       155.3  

Provision (benefit) for income taxes

     67.0       118.5       225.0       126.0       59.6       35.1       38.4  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     109.9       306.0       228.3       357.5       184.7       113.4       116.9  

Less: Net income (loss) attributable to Noncontrolling interests

     11.3       14.3       (11.2     2.8       2.9       0.6       0.5  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to RPM International Inc. stockholders

   $ 98.6     $ 291.7     $ 239.5     $ 354.7     $ 181.8     $ 112.8     $ 116.4  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per share (basic)

   $ 0.75     $ 2.20     $ 1.81     $ 2.70     $ 1.37     $ 0.85     $ 0.87  

Earnings per share (diluted)

     0.74       2.18       1.78       2.63       1.36       0.83       0.86  

Cash dividends declared per share

     0.890       0.945       1.020       1.085       1.175       0.275       0.300  

Average number of shares of common stock outstanding:

              

Basic

     129.0       129.4       129.9       129.4       130.7       130.6       131.2  

Diluted

     129.8       132.3       134.9       136.7       135.2       135.2       135.7  

 



 

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