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10-Q Filing

MASCO CORP /DE/ CIK: 62996 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0000062996-16-000008
Period End Date 20160331
Filing Date 20160426
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance mas-20160331.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Common share, par value (in dollars per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common share, par value (in dollars per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common shares, shares authorized CommonStockSharesAuthorized 1.40B shares Point-in-time
Common shares, shares authorized CommonStockSharesAuthorized 1.40B shares Point-in-time
Common shares, shares issued CommonStockSharesIssued 330.50M shares Point-in-time
Cash and cash investments CashAndCashEquivalentsAtCarryingValue $2.17B USD Point-in-time
Cash and cash investments CashAndCashEquivalentsAtCarryingValue $1.47B USD Point-in-time
Common shares, shares issued CommonStockSharesIssued 328.70M shares Point-in-time
Short-term bank deposits ShortTermInvestments $248.00M USD Point-in-time
Common shares, shares outstanding CommonStockSharesOutstanding 328.70M shares Point-in-time
Common shares, shares outstanding CommonStockSharesOutstanding 330.50M shares Point-in-time
Short-term bank deposits ShortTermInvestments $195.00M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Receivables ReceivablesNetCurrent $1.04B USD Point-in-time
Receivables ReceivablesNetCurrent $853.00M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred shares, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $87.00M USD Point-in-time
Preferred shares, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $72.00M USD Point-in-time
Preferred shares, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred shares, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Finished goods InventoryFinishedGoods $420.00M USD Point-in-time
Finished goods InventoryFinishedGoods $358.00M USD Point-in-time
Raw material InventoryRawMaterials $238.00M USD Point-in-time
Raw material InventoryRawMaterials $244.00M USD Point-in-time
Work in process InventoryWorkInProcess $91.00M USD Point-in-time
Work in process InventoryWorkInProcess $91.00M USD Point-in-time
Total InventoryNet $687.00M USD Point-in-time
Total InventoryNet $755.00M USD Point-in-time
Total current assets AssetsCurrent $4.25B USD Point-in-time
Total current assets AssetsCurrent $3.33B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.03B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.04B USD Point-in-time
Goodwill Goodwill $844.00M USD Point-in-time
Goodwill Goodwill $839.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $160.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $158.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $310.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $264.00M USD Point-in-time
Total assets Assets $5.66B USD Point-in-time
Total assets Assets $6.55B USD Point-in-time
Notes payable NotesPayableCurrent $1.30B USD Point-in-time
Notes payable NotesPayableCurrent $1.00B USD Point-in-time
Accounts payable AccountsPayableCurrent $834.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $749.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $652.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $752.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.79B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.50B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.40B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.99B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $688.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $698.00M USD Point-in-time
Total liabilities Liabilities $5.61B USD Point-in-time
Total liabilities Liabilities $6.47B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2016 328,700,000 ; 2015 330,500,000 CommonStockValue $329.00M USD Point-in-time
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2016 328,700,000 ; 2015 330,500,000 CommonStockValue $330.00M USD Point-in-time
Preferred shares authorized: 1,000,000; Issued and outstanding: 2016 and 2015 None PreferredStockValue - USD Point-in-time
Preferred shares authorized: 1,000,000; Issued and outstanding: 2016 and 2015 None PreferredStockValue - USD Point-in-time
Paid-in capital AdditionalPaidInCapital - USD Point-in-time
Paid-in capital AdditionalPaidInCapital - USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-310.00M USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-300.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-165.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-145.00M USD Point-in-time
Total Masco Corporations shareholders deficit StockholdersEquity $-135.00M USD Point-in-time
Total Masco Corporations shareholders deficit StockholdersEquity $-126.00M USD Point-in-time
Noncontrolling interest MinorityInterest $193.00M USD Point-in-time
Noncontrolling interest MinorityInterest $210.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $959.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $58.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $84.00M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.66B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $6.55B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $1.72B USD 1 Quarter
Net sales SalesRevenueNet $1.66B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.16B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.15B USD 1 Quarter
Gross profit GrossProfit $569.00M USD 1 Quarter
Gross profit GrossProfit $495.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $330.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $335.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $234.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $165.00M USD 1 Quarter
Interest expense InterestExpense $56.00M USD 1 Quarter
Interest expense InterestExpense $56.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-1.00M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-55.00M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-57.00M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $177.00M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $110.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $58.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $40.00M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $70.00M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $119.00M USD 1 Quarter
Income from discontinued operations, net IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity $3.00M USD 1 Quarter
Income from discontinued operations, net IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity - USD 1 Quarter
Net income ProfitLoss $73.00M USD 1 Quarter
Net income ProfitLoss $119.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $10.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $9.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $109.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $64.00M USD 1 Quarter
Income from continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.33 USD 1 Quarter
Income from continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.17 USD 1 Quarter
Income (loss) from discontinued operations, net (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.01 USD 1 Quarter
Income (loss) from discontinued operations, net (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare - USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.33 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.18 USD 1 Quarter
Income from continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.17 USD 1 Quarter
Income from continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.32 USD 1 Quarter
Income (loss) from discontinued operations, net (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Income (loss) from discontinued operations, net (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.01 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.18 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.32 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperations $109.00M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperations $61.00M USD 1 Quarter
Income from discontinued operations, net IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity $3.00M USD 1 Quarter
Income from discontinued operations, net IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity - USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $109.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $64.00M USD 1 Quarter
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Cash provided by operations CashProvidedByUsedInOperatingActivitiesBeforeReconcilingAdjustments $189.00M USD 1 Quarter
Cash provided by operations CashProvidedByUsedInOperatingActivitiesBeforeReconcilingAdjustments $144.00M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $244.00M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $198.00M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $63.00M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $56.00M USD 1 Quarter
(Decrease) increase in accounts payable and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $4.00M USD 1 Quarter
(Decrease) increase in accounts payable and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-28.00M USD 1 Quarter
Net cash for operating activities NetCashProvidedByUsedInOperatingActivities $-152.00M USD 1 Quarter
Net cash for operating activities NetCashProvidedByUsedInOperatingActivities $-100.00M USD 1 Quarter
Purchase of Company common stock PaymentsForRepurchaseOfCommonStock $86.00M USD 1 Quarter
Purchase of Company common stock PaymentsForRepurchaseOfCommonStock $103.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $32.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $32.00M USD 1 Quarter
Issuance of notes, net of issuance costs ProceedsFromNotesPayable $889.00M USD 1 Quarter
Issuance of notes, net of issuance costs ProceedsFromNotesPayable $497.00M USD 1 Quarter
Issuance of Company common stock ProceedsFromIssuanceOfCommonStock $1.00M USD 1 Quarter
Issuance of Company common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Excess tax benefit from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $11.00M USD 1 Quarter
Excess tax benefit from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities - USD 1 Quarter
Decrease in debt, net ProceedsFromRepaymentsOfShortTermDebt $-2.00M USD 1 Quarter
Decrease in debt, net ProceedsFromRepaymentsOfShortTermDebt - USD 1 Quarter
Net cash from financing activities NetCashProvidedByUsedInFinancingActivities $781.00M USD 1 Quarter
Net cash from financing activities NetCashProvidedByUsedInFinancingActivities $362.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $32.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $37.00M USD 1 Quarter
Acquisition of companies, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $26.00M USD 1 Quarter
Acquisition of companies, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Short-term bank deposits ProceedsFromSaleOfShortTermInvestments $141.00M USD 1 Quarter
Short-term bank deposits ProceedsFromSaleOfShortTermInvestments $60.00M USD 1 Quarter
Other financial investments ProceedsFromSaleAndMaturityOfOtherInvestments - USD 1 Quarter
Other financial investments ProceedsFromSaleAndMaturityOfOtherInvestments $3.00M USD 1 Quarter
Property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $3.00M USD 1 Quarter
Property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Short-term bank deposits PaymentsToAcquireShortTermInvestments - USD 1 Quarter
Short-term bank deposits PaymentsToAcquireShortTermInvestments $63.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $3.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $15.00M USD 1 Quarter
Net cash from investing activities NetCashProvidedByUsedInInvestingActivities $11.00M USD 1 Quarter
Net cash from investing activities NetCashProvidedByUsedInInvestingActivities $20.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash investments EffectOfExchangeRateOnCashAndCashEquivalents $6.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash investments EffectOfExchangeRateOnCashAndCashEquivalents $-26.00M USD 1 Quarter
Increase for the period CashAndCashEquivalentsPeriodIncreaseDecrease $195.00M USD 1 Quarter
Increase for the period CashAndCashEquivalentsPeriodIncreaseDecrease $707.00M USD 1 Quarter
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $2.17B USD Point-in-time
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.58B USD Point-in-time
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.38B USD Point-in-time
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.47B USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $2.17B USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.58B USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.38B USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.47B USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $959.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $58.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $84.00M USD Point-in-time
Total comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-19.00M USD 1 Quarter
Total comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $146.00M USD 1 Quarter
Shares issued StockIssuedDuringPeriodValueNewIssues $-5.00M USD 1 Quarter
Shares issued StockIssuedDuringPeriodValueNewIssues $-6.00M USD 1 Quarter
Repurchased StockRepurchasedAndRetiredDuringPeriodValue $86.00M USD 1 Quarter
Repurchased StockRepurchasedAndRetiredDuringPeriodValue $106.00M USD 1 Quarter
Surrendered (non-cash) SurrenderedNonCash $11.00M USD 1 Quarter
Surrendered (non-cash) SurrenderedNonCash $16.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $31.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $32.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $15.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.00M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $959.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $58.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $84.00M USD Point-in-time
Comprehensive Income 22 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $73.00M USD 1 Quarter
Net income ProfitLoss $119.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $10.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $9.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $109.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $64.00M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-96.00M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $24.00M USD 1 Quarter
Pension and other post-retirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-4.00M USD 1 Quarter
Pension and other post-retirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-3.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-92.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $27.00M USD 1 Quarter
Less: Other comprehensive income (loss) attributable to noncontrolling interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest $23.00M USD 1 Quarter
Less: Other comprehensive income (loss) attributable to noncontrolling interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest $-7.00M USD 1 Quarter
Other comprehensive income (loss) attributable to Masco Corporation OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $20.00M USD 1 Quarter
Other comprehensive income (loss) attributable to Masco Corporation OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-69.00M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-19.00M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $146.00M USD 1 Quarter
Less: Total comprehensive income (loss) attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $17.00M USD 1 Quarter
Less: Total comprehensive income (loss) attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-14.00M USD 1 Quarter
Total comprehensive income (loss) attributable to Masco Corporation ComprehensiveIncomeNetOfTax $-5.00M USD 1 Quarter
Total comprehensive income (loss) attributable to Masco Corporation ComprehensiveIncomeNetOfTax $129.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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