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10-Q Filing

MASCO CORP /DE/ CIK: 62996 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000062996-18-000028
Period End Date 20180331
Filing Date 20180424
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance mas-20180331.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 (in shares) CommonStockSharesAuthorized 1.40B shares Point-in-time
Common shares, shares authorized (in shares) CommonStockSharesAuthorized 1.40B shares Point-in-time
Cash and cash investments CashAndCashEquivalentsAtCarryingValue $1.19B USD Point-in-time
Cash and cash investments CashAndCashEquivalentsAtCarryingValue $370.00M USD Point-in-time
Common shares, shares issued (in shares) CommonStockSharesIssued 310.40M shares Point-in-time
Common shares, shares issued (in shares) CommonStockSharesIssued 308.00M shares Point-in-time
Common shares, shares outstanding (in shares) CommonStockSharesOutstanding 308.00M shares Point-in-time
Short-term bank deposits ShortTermInvestments $108.00M USD Point-in-time
Short-term bank deposits ShortTermInvestments $99.00M USD Point-in-time
Common shares, shares outstanding (in shares) CommonStockSharesOutstanding 310.40M shares Point-in-time
Receivables ReceivablesNetCurrent $1.36B USD Point-in-time
Preferred shares, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred shares, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Receivables ReceivablesNetCurrent $1.07B USD Point-in-time
Preferred shares, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred shares, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $111.00M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $118.00M USD Point-in-time
Preferred shares, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred shares, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $643.00M USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $402.00M USD Point-in-time
Raw material InventoryRawMaterialsNetOfReserves $300.00M USD Point-in-time
Raw material InventoryRawMaterialsNetOfReserves $277.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $107.00M USD Point-in-time
Work in process InventoryWorkInProcessNetOfReserves $105.00M USD Point-in-time
Total inventories InventoryNet $784.00M USD Point-in-time
Total inventories InventoryNet $1.05B USD Point-in-time
Total current assets AssetsCurrent $3.26B USD Point-in-time
Total current assets AssetsCurrent $2.99B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.18B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.13B USD Point-in-time
Goodwill Goodwill $841.00M USD Point-in-time
Goodwill Goodwill $891.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $429.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $187.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $114.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $134.00M USD Point-in-time
Total assets Assets $5.63B USD Point-in-time
Total assets Assets $5.53B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.01B USD Point-in-time
Accounts payable AccountsPayableCurrent $824.00M USD Point-in-time
Notes payable NotesPayableCurrent $116.00M USD Point-in-time
Notes payable NotesPayableCurrent $116.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $727.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $646.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.67B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.77B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.97B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.97B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $706.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $715.00M USD Point-in-time
Total liabilities Liabilities $5.45B USD Point-in-time
Total liabilities Liabilities $5.35B USD Point-in-time
Commitments and contingencies (Note O) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note O) CommitmentsAndContingencies - USD Point-in-time
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2018 308,000,000; 2017 310,400,000 CommonStockValue $308.00M USD Point-in-time
Common shares, par value $1 per share Authorized shares: 1,400,000,000; Issued and outstanding: 2018 308,000,000; 2017 310,400,000 CommonStockValue $310.00M USD Point-in-time
Preferred shares authorized: 1,000,000; Issued and outstanding: 2018 and 2017 None PreferredStockValue - USD Point-in-time
Preferred shares authorized: 1,000,000; Issued and outstanding: 2018 and 2017 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 $-298.00M USD Point-in-time
Retained deficit RetainedEarningsAccumulatedDeficit $-296.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-84.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-65.00M USD Point-in-time
Total Masco Corporation's shareholders' deficit StockholdersEquity $-72.00M USD Point-in-time
Total Masco Corporation's shareholders' deficit StockholdersEquity $-53.00M USD Point-in-time
Noncontrolling interest MinorityInterest $236.00M USD Point-in-time
Noncontrolling interest MinorityInterest $255.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-55.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $183.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-103.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $183.00M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.53B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.63B USD Point-in-time
Income Statement 58 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $1.92B USD 1 Quarter
Net sales SalesRevenueNet $1.78B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.17B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.30B USD 1 Quarter
Gross profit GrossProfit $619.00M USD 1 Quarter
Gross profit GrossProfit $605.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $375.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $348.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $1.19B USD Annual
Operating profit OperatingIncomeLoss $372.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $244.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $257.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $256.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $1.09B USD Annual
Operating profit OperatingIncomeLoss $309.00M USD 1 Quarter
Operating profit OperatingIncomeLoss $629.00M USD 2 Qtrs
Operating profit OperatingIncomeLoss $938.00M USD 3 Qtrs
Interest expense InterestExpense $41.00M USD 1 Quarter
Interest expense InterestExpense $43.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-3.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-4.00M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-44.00M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-47.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $200.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $210.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $39.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $62.00M USD 1 Quarter
Net income ProfitLoss $161.00M USD 1 Quarter
Net income ProfitLoss $148.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $10.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $12.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $453.00M USD 3 Qtrs
Net income attributable to Masco Corporation NetIncomeLoss $138.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $301.00M USD 2 Qtrs
Net income attributable to Masco Corporation NetIncomeLoss $80.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $152.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $533.00M USD Annual
Net income attributable to Masco Corporation NetIncomeLoss $493.00M USD Annual
Net income attributable to Masco Corporation NetIncomeLoss $149.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $163.00M USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $1.68 USD Annual
Net income (in dollars per share) EarningsPerShareBasic $0.48 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $1.49 USD Annual
Net income (in dollars per share) EarningsPerShareBasic $0.51 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $1.42 USD 3 Qtrs
Net income (in dollars per share) EarningsPerShareBasic $0.48 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.43 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.94 USD 2 Qtrs
Net income (in dollars per share) EarningsPerShareBasic $0.25 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.47 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.25 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $1.48 USD Annual
Net income (in dollars per share) EarningsPerShareDiluted $1.41 USD 3 Qtrs
Net income (in dollars per share) EarningsPerShareDiluted $0.43 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.93 USD 2 Qtrs
Net income (in dollars per share) EarningsPerShareDiluted $0.48 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.51 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $1.66 USD Annual
Cash Flow Statement 44 line items
Line Item Tag Value Unit Period
Cash provided by operations CashProvidedByUsedInOperatingActivitiesBeforeReconcilingAdjustments $210.00M USD 1 Quarter
Cash provided by operations CashProvidedByUsedInOperatingActivitiesBeforeReconcilingAdjustments $246.00M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $216.00M USD 1 Quarter
Increase in receivables IncreaseDecreaseInReceivables $244.00M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $105.00M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $87.00M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $38.00M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities, net IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-46.00M USD 1 Quarter
Net cash for operating activities NetCashProvidedByUsedInOperatingActivities $-149.00M USD 1 Quarter
Net cash for operating activities NetCashProvidedByUsedInOperatingActivities $-55.00M USD 1 Quarter
Purchase of Company common stock PaymentsForRepurchaseOfCommonStock $150.00M USD 1 Quarter
Purchase of Company common stock PaymentsForRepurchaseOfCommonStock $87.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $33.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $32.00M USD 1 Quarter
Employee withholding taxes paid on stock-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $14.00M USD 1 Quarter
Employee withholding taxes paid on stock-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $32.00M USD 1 Quarter
Net cash for financing activities NetCashProvidedByUsedInFinancingActivities $-133.00M USD 1 Quarter
Net cash for financing activities NetCashProvidedByUsedInFinancingActivities $-215.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $37.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $40.00M USD 1 Quarter
Payments to Acquire Businesses, Net of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired $548.00M USD 1 Quarter
Payments to Acquire Businesses, Net of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Short-term bank deposits ProceedsFromSaleOfShortTermInvestments $11.00M USD 1 Quarter
Short-term bank deposits ProceedsFromSaleOfShortTermInvestments $13.00M USD 1 Quarter
Other financial investments ProceedsFromSaleAndMaturityOfOtherInvestments $3.00M USD 1 Quarter
Other financial investments ProceedsFromSaleAndMaturityOfOtherInvestments - USD 1 Quarter
Property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $1.00M USD 1 Quarter
Property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $6.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $9.00M USD 1 Quarter
Net cash for investing activities NetCashProvidedByUsedInInvestingActivities $-574.00M USD 1 Quarter
Net cash for investing activities NetCashProvidedByUsedInInvestingActivities $-26.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash investments EffectOfExchangeRateOnCashAndCashEquivalents $7.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash investments EffectOfExchangeRateOnCashAndCashEquivalents $20.00M USD 1 Quarter
Decrease for the period CashAndCashEquivalentsPeriodIncreaseDecrease $-301.00M USD 1 Quarter
Decrease for the period CashAndCashEquivalentsPeriodIncreaseDecrease $-824.00M USD 1 Quarter
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $370.00M USD Point-in-time
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $689.00M USD Point-in-time
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $990.00M USD Point-in-time
At January 1 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.19B USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $370.00M USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $689.00M USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $990.00M USD Point-in-time
At March 31 CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $1.19B USD Point-in-time
Stockholders Equity 22 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
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-55.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $183.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-103.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $183.00M USD Point-in-time
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $173.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $208.00M USD 1 Quarter
Shares issued StockIssuedDuringPeriodValueNewIssues $-1.00M USD 1 Quarter
Shares issued StockIssuedDuringPeriodValueNewIssues $-13.00M USD 1 Quarter
Repurchased StockRepurchasedAndRetiredDuringPeriodValue $150.00M USD 1 Quarter
Repurchased StockRepurchasedAndRetiredDuringPeriodValue $92.00M USD 1 Quarter
Surrendered (non-cash) SurrenderedNonCash $13.00M USD 1 Quarter
Surrendered (non-cash) SurrenderedNonCash $19.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $33.00M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $32.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $7.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $7.00M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-55.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $183.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-103.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $183.00M USD Point-in-time
Comprehensive Income 29 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $161.00M USD 1 Quarter
Net income ProfitLoss $148.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $10.00M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $12.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $453.00M USD 3 Qtrs
Net income attributable to Masco Corporation NetIncomeLoss $138.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $301.00M USD 2 Qtrs
Net income attributable to Masco Corporation NetIncomeLoss $80.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $152.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $533.00M USD Annual
Net income attributable to Masco Corporation NetIncomeLoss $493.00M USD Annual
Net income attributable to Masco Corporation NetIncomeLoss $149.00M USD 1 Quarter
Net income attributable to Masco Corporation NetIncomeLoss $163.00M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $42.00M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $21.00M USD 1 Quarter
Pension and other post-retirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-5.00M USD 1 Quarter
Pension and other post-retirement benefits OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-4.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $25.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $47.00M USD 1 Quarter
Less: Other comprehensive income attributable to noncontrolling interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest $7.00M USD 1 Quarter
Less: Other comprehensive income attributable to noncontrolling interest OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest $4.00M USD 1 Quarter
Other comprehensive income attributable to Masco Corporation OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $21.00M USD 1 Quarter
Other comprehensive income attributable to Masco Corporation OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $40.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $173.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $208.00M USD 1 Quarter
Less: Total comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $14.00M USD 1 Quarter
Less: Total comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $19.00M USD 1 Quarter
Total comprehensive income attributable to Masco Corporation ComprehensiveIncomeNetOfTax $159.00M USD 1 Quarter
Total comprehensive income attributable to Masco Corporation ComprehensiveIncomeNetOfTax $189.00M USD 1 Quarter

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

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