$SHW

SHERWIN WILLIAMS CO

CIK:0000089800|SEC Filings

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Statement of Comprehensive Income [Abstract]

Net income

$ 843.6

$ 754.7

$ 1,378.3

$ 1,258.6

Other comprehensive income, net of tax:

Foreign currency translation adjustments

^[1]

(5.3)

176.2

44.3

282.8

Pension and other postretirement benefit adjustments:

Amounts reclassified from AOCI

^[2]

(1.0)

(3.4)

(1.9)

(6.8)

Unrealized net gains on cash flow hedges:

Amounts recognized in AOCI

^[3]

0.0

3.1

0.0

3.1

Amounts reclassified from AOCI

^[4]

(1.0)

(0.9)

(2.1)

(1.8)

Other comprehensive (loss) income, net of tax

(7.3)

175.0

40.3

277.3

Comprehensive income

$ 836.3

$ 929.7

$ 1,418.6

$ 1,535.9

[1]	The three months ended June 30, 2026 and 2025 include unrealized gains (losses), net of taxes of $4.3 million and $(109.0) million, respectively, related to net investment hedges. The six months ended June 30, 2026 and 2025 include unrealized gains (losses), net of taxes of $30.6 million and $(145.3) million, respectively, related to net investment hedges. See Note 12 for further information.
[2]	Net of taxes of $0.3 million and $1.1 million for the three months ended June 30, 2026 and 2025, respectively. Net of taxes of $0.5 million and $2.2 million for the six months ended June 30, 2026 and 2025, respectively.
[3]	Net of taxes of $(1.0) million for the three and six months ended June 30, 2025. See Note 12 for further information.
[4]	Net of taxes of $0.4 million and $0.3 million for the three months ended June 30, 2026 and 2025, respectively. Net of taxes of $0.7 million and $0.6 million for the six months ended June 30, 2026 and 2025, respectively.

STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 1,378.3	$ 1,258.6
Adjustments to reconcile Net income to Net operating cash:
Depreciation	196.8	159.2
Non-cash lease expense	248.8	262.8
Amortization of intangible assets	176.4	164.4
Provisions for environmental-related matters - net	3.4	3.5
Deferred income taxes	(10.9)	(38.8)
Stock-based compensation expense	57.3	60.6
Amortization of non-traded investments	66.1	57.4
Loss on sale or disposition of assets	3.4	1.5
Other	(1.4)	3.4
Change in working capital accounts - net	(397.6)	(621.3)
Change in operating lease liabilities	(239.5)	(261.3)
Costs incurred for environmental-related matters	(15.7)	(17.9)
Other	21.2	19.4
Net operating cash	1,486.6	1,051.5
Investing Activities
Capital expenditures	(246.7)	(370.8)
Acquisition of businesses, net of cash acquired	(64.9)	(121.4)
Proceeds from sale of assets	5.6	0.0
Other	(72.2)	(65.1)
Net investing cash	(378.2)	(557.3)
Financing Activities
Net increase in short-term borrowings	1,054.0	1,043.8
Proceeds from long-term debt	500.0	0.0
Payments of long-term debt	(350.0)	(250.0)
Payments of cash dividends	(394.6)	(398.3)
Proceeds from stock options exercised	65.6	50.6
Treasury stock purchased	(1,837.0)	(870.2)
Proceeds from real estate financing transactions	0.0	40.7
Other	(54.4)	(59.4)
Net financing cash	(1,016.4)	(442.8)
Effect of exchange rate changes on Cash and cash equivalents	(5.7)	8.0
Net increase in Cash and cash equivalents	86.3	59.4
Cash and cash equivalents at beginning of year	207.2	210.4
Cash and cash equivalents at end of period	293.5	269.8
Supplemental cash flow information:
Income taxes paid	184.7	319.4
Interest paid	$ 275.5	$ 219.4

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 293.5	$ 207.2	$ 269.8
Accounts receivable, net	3,571.2	2,791.2	3,111.9
Inventories	2,529.7	2,318.2	2,484.6
Other current assets	604.8	690.8	559.0
Total current assets	6,999.2	6,007.4	6,425.3
Property, plant and equipment, net	4,219.4	4,137.4	3,805.9
Goodwill	8,023.2	8,036.6	7,807.6
Intangible assets	3,803.7	3,966.1	3,543.4
Operating lease right-of-use assets	2,059.9	1,995.2	2,011.3
Other assets	1,846.0	1,759.0	1,770.1
Total Assets	26,951.4	25,901.7	25,363.6
Current liabilities:
Short-term borrowings	2,246.4	1,200.5	1,706.7
Accounts payable	2,826.4	2,354.2	2,570.0
Compensation and taxes withheld	768.4	839.4	688.9
Accrued taxes	405.4	187.4	255.8
Current portion of long-term debt	1,498.4	350.1	1,150.7
Current portion of operating lease liabilities	486.5	479.8	480.7
Other accruals	1,395.5	1,508.9	1,343.6
Total current liabilities	9,627.0	6,920.3	8,196.4
Long-term debt	8,327.3	9,320.7	7,828.9
Postretirement benefits other than pensions	133.4	129.8	120.7
Deferred income taxes	757.2	765.3	560.9
Long-term operating lease liabilities	1,656.8	1,591.5	1,603.2
Other long-term liabilities	2,595.0	2,575.8	2,652.6
Shareholders’ equity:
Common stock - $0.33-1/3 par value: 0.0 million, 247.7 million and 250.6 million shares outstanding at March 31, 2026, December 31, 2025 and March 31, 2025, respectively	83.3	83.1	92.7
Other capital	4,322.1	4,204.5	4,680.2
Retained earnings	2,013.1	1,029.4	8,106.6
Treasury stock, at cost	(1,969.7)	(84.3)	(7,880.7)
Accumulated other comprehensive income (loss)	(594.1)	(634.4)	(597.9)
Total shareholders’ equity	3,854.7	4,598.3	4,400.9
Total Liabilities and Shareholders’ Equity	$ 26,951.4	$ 25,901.7	$ 25,363.6