$MAS

MASCO CORP /DE/

CIK:0000062996|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,992	$ 2,051	$ 3,910	$ 3,852
Cost of sales	1,124	1,278	2,356	2,435
Gross profit	868	772	1,553	1,416
Selling, general and administrative expenses	397	361	766	719
Operating profit	470	412	787	698
Other income (expense), net:
Interest expense	(28)	(26)	(54)	(52)
Other, net	(2)	(7)	(2)	(14)
Nonoperating income (expense)	(30)	(33)	(55)	(66)
Income before income taxes	440	378	731	632
Income tax expense	107	95	170	150
Net income	333	283	561	482
Less: Net income attributable to noncontrolling interest	15	13	30	25
Net income attributable to Masco Corporation	$ 318	$ 270	$ 531	$ 456
Basic:
Net income (in dollars per share)	$ 1.60	$ 1.29	$ 2.64	$ 2.16
Diluted:
Net income (in dollars per share)	$ 1.60	$ 1.28	$ 2.64	$ 2.15

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM (FOR) OPERATING ACTIVITIES:
Cash provided by operations	$ 705	$ 606
Increase in receivables	(327)	(271)
Increase in inventories	(22)	(133)
Increase (decrease) in accounts payable and accrued liabilities, net	61	(55)
Net cash from operating activities	417	148
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES:
Purchase of common stock	(592)	(231)
Excise tax paid on the purchase of common stock	(5)	(6)
Cash dividends paid	(129)	(132)
Dividends paid to noncontrolling interest	(13)	(15)
Proceeds from revolving credit borrowings, net	0	46
Proceeds from term loan	300	0
Proceeds from the exercise of stock options	23	2
Employee withholding taxes paid on stock-based compensation	(14)	(8)
Payment of debt	(1)	(1)
Debt financing costs	(3)	0
Net cash for financing activities	(433)	(344)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES:
Capital expenditures	(77)	(68)
Other, net	(1)	(1)
Net cash for investing activities	(78)	(70)
Effect of exchange rate changes on cash and cash investments	(6)	22
CASH AND CASH INVESTMENTS:
Decrease for the period	(100)	(243)
At January 1	647	634
At June 30	$ 548	$ 390

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash investments	$ 548	$ 647
Receivables	1,342	1,028
Inventories	1,060	1,046
Prepaid expenses and other	119	119
Total current assets	3,069	2,840
Property and equipment, net	1,191	1,195
Goodwill	618	623
Other intangible assets, net	194	205
Operating lease right-of-use assets	253	233
Other assets	77	105
Total assets	5,401	5,201
Current liabilities:
Accounts payable	890	810
Notes payable	2	2
Accrued liabilities	754	761
Total current liabilities	1,646	1,573
Long-term debt	3,245	2,945
Noncurrent operating lease liabilities	246	221
Other liabilities	383	387
Total liabilities	5,519	5,125
Commitments and contingencies (Note J)
Masco Corporation's shareholders' equity:
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2026 – 197,200,000; 2025 – 204,300,000	197	204
Preferred shares authorized: 1,000,000; Issued and outstanding: 2026 and 2025 – None	0	0
Paid-in capital	6	0
Retained deficit	(849)	(688)
Accumulated other comprehensive income	280	298
Total Masco Corporation's shareholders' deficit	(365)	(185)
Noncontrolling interest	247	261
Total equity	(118)	76
Total liabilities and equity	$ 5,401	$ 5,201