PPG INDUSTRIES INC Earnings Per Share Disclosure
| ($ in millions, except per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
| Earnings per common share (attributable to PPG) | |||||||||||||||||
| Income from continuing operations, net of tax | $1,571 | $1,344 | $1,223 | ||||||||||||||
| Income/(loss) from discontinued operations, net of tax | 5 | (228) | 47 | ||||||||||||||
| Net income (attributable to PPG) | $1,576 | $1,116 | $1,270 | ||||||||||||||
| Weighted average common shares outstanding | 226.3 | 233.8 | 236.0 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Stock options | 0.1 | 0.4 | 0.5 | ||||||||||||||
| Other stock compensation plans | 0.7 | 0.7 | 0.7 | ||||||||||||||
| Potentially dilutive common shares | 0.8 | 1.1 | 1.2 | ||||||||||||||
| Adjusted weighted average common shares outstanding | 227.1 | 234.9 | 237.2 | ||||||||||||||
| Earnings per common share (attributable to PPG) | |||||||||||||||||
| Income from continuing operations, net of tax | $6.94 | $5.75 | $5.18 | ||||||||||||||
| Income/(loss) from discontinued operations, net of tax | 0.02 | (0.98) | 0.20 | ||||||||||||||
| Net income (attributable to PPG) | $6.96 | $4.77 | $5.38 | ||||||||||||||
| Earnings per common share - assuming dilution (attributable to PPG) | |||||||||||||||||
| Income from continuing operations, net of tax | $6.92 | $5.72 | $5.16 | ||||||||||||||
| Income/(loss) from discontinued operations, net of tax | 0.02 | (0.97) | 0.19 | ||||||||||||||
| Net income (attributable to PPG) | $6.94 | $4.75 | $5.35 | ||||||||||||||
Antidilutive securities(a): | |||||||||||||||||
| Stock options | 3.4 | 1.3 | 0.9 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 16, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 20, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.