SEC Document

RPM INTERNATIONAL INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

 

 

(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

 

 

53,771

 

 

 

2,051

 

 

 

55,822

 

Other Comprehensive Income:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

(46,919

)

 

 

 

 

 

 

(46,919

)

Pension and other postretirement benefit liability

   adjustments, net of tax

 

 

12,516

 

 

 

 

 

 

 

12,516

 

Unrealized gain on securities, net of tax

 

 

3,286

 

 

 

 

 

 

 

3,286

 

Total Other Comprehensive (Loss), net of tax

 

 

(31,117

)

 

 

-

 

 

 

(31,117

)

Comprehensive Income

 

 

22,654

 

 

 

2,051

 

 

 

24,705

 

Dividends paid

 

 

(116,680

)

 

 

 

 

 

 

(116,680

)

Other noncontrolling interest activity

 

 

 

 

 

 

(1,959

)

 

 

(1,959

)

Shares repurchased and returned for taxes

 

 

(20,092

)

 

 

 

 

 

 

(20,092

)

Stock based compensation expense

 

 

25,005

 

 

 

 

 

 

 

25,005

 

Total Equity at February 28, 2017

 

$

1,283,222

 

 

$

2,505

 

 

$

1,285,727

 

 

 

NOTE 16 — 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.

Our industrial reportable segment products are sold throughout North America and also account for the majority of our international sales. Our industrial product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The industrial reportable segment comprises three separate operating segments — Tremco Group, tremco illbruck Group and Performance Coatings Group. Products and services within this reportable segment include construction chemicals, roofing systems, weatherproofing and other sealants, and polymer flooring.

Our consumer reportable segment manufactures and markets professional use and do-it-yourself (“DIY”) products for a variety of mainly consumer applications, including home improvement and personal leisure activities. Our consumer segment’s major manufacturing and distribution operations are located primarily in North America, along with a few locations in Europe and other parts of the world. Our consumer reportable segment products are primarily sold directly to mass merchandisers, home improvement centers, hardware stores, paint stores, craft shops, cosmetic companies and through distributors. This reportable segment comprises three operating segments — Rust-Oleum Group, DAP Group and SPG-Consumer Group. Products within this reportable segment include specialty, hobby and professional paints; nail enamels; caulks; adhesives; silicone sealants and wood stains.

Our specialty reportable segment products are sold throughout North America and a few international locations, primarily in Europe. Our specialty product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The specialty reportable segment is a single operating segment, which offers products that include industrial cleaners, restoration services equipment, colorants, exterior finishes, edible coatings and specialty glazes for pharmaceutical and food industries, and other specialty OEM coatings.

21



©2018 RPM International Inc. Terms of Use | Privacy Policy 2628 Pearl Road - P.O. Box 777 - Medina, Ohio 44258 | Phone: 330.273.5090 | Email: info@RPMinc.com