Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Sherwin-Williams Co., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Net sales	5,872,300)	4,998,700)	4,762,100)	5,146,700)	5,379,800)	4,656,000)	4,488,800)	5,122,200)	4,604,000)	4,146,700)	4,114,429)	4,867,650)	4,877,860)	4,040,861)	4,064,221)	4,731,470)	4,773,796)	3,965,006)	3,979,564)	4,507,020)	3,735,817)	2,761,387)
Cost of goods sold	(3,423,300)	(2,945,800)	(2,882,400)	(3,007,100)	(2,968,400)	(2,544,000)	(2,360,100)	(2,666,900)	(2,395,100)	(2,257,000)	(2,220,395)	(2,642,096)	(2,696,425)	(2,305,784)	(2,381,538)	(2,721,066)	(2,735,168)	(2,278,159)	(2,180,825)	(2,604,878)	(1,998,761)	(1,418,113)
Gross profit	2,449,000)	2,052,900)	1,879,700)	2,139,600)	2,411,400)	2,112,000)	2,128,700)	2,455,300)	2,208,900)	1,889,700)	1,894,034)	2,225,554)	2,181,435)	1,735,077)	1,682,683)	2,010,404)	2,038,628)	1,686,847)	1,798,739)	1,902,142)	1,737,056)	1,343,274)
Selling, general and administrative expenses	(1,519,100)	(1,407,500)	(1,439,900)	(1,368,900)	(1,437,800)	(1,325,900)	(1,472,200)	(1,406,800)	(1,291,300)	(1,307,600)	(1,354,424)	(1,345,171)	(1,331,288)	(1,244,017)	(1,238,288)	(1,273,066)	(1,307,861)	(1,214,565)	(1,323,627)	(1,306,121)	(1,145,492)	(1,010,175)
Other general income (expense), net	(4,400)	(2,500)	9,400)	1,100)	5,200)	(117,500)	(14,600)	(10,500)	1,100)	(3,700)	(20,404)	(12,032)	(7,122)	458)	(147,627)	(11,526)	(26,979)	(2,990)	(14,705)	(4,109)	(1,775)	(276)
Amortization	(78,500)	(78,000)	(76,300)	(76,200)	(77,800)	(79,200)	(79,200)	(78,700)	(77,400)	(78,100)	(78,400)	(77,548)	(78,081)	(78,771)	(79,093)	(80,077)	(73,893)	(85,049)	(87,965)	(83,711)	(28,918)	(6,170)
Impairment of trademarks	—)	—)	—)	—)	—)	—)	(2,300)	—)	—)	—)	(122,100)	—)	—)	—)	—)	—)	—)	—)	(2,022)	—)	—)	—)
Operating income	847,000)	564,900)	372,900)	695,600)	901,000)	589,400)	560,400)	959,300)	841,300)	500,300)	318,706)	790,803)	764,944)	412,747)	217,675)	645,735)	629,895)	384,243)	370,420)	508,201)	560,871)	326,653)
Interest expense	(92,900)	(88,400)	(84,900)	(83,100)	(83,500)	(83,200)	(82,800)	(83,300)	(88,100)	(86,200)	(83,826)	(85,282)	(89,198)	(90,994)	(89,399)	(92,281)	(93,507)	(91,547)	(89,454)	(91,593)	(56,729)	(25,695)
Interest income	1,300)	900)	3,000)	700)	600)	600)	1,000)	1,400)	600)	600)	24,312)	637)	541)	410)	2,554)	555)	559)	1,618)	1,752)	2,448)	3,091)	1,280)
Other income (expense), net	(15,500)	(16,300)	17,900)	(1,700)	1,100)	2,200)	25,300)	(1,800)	(6,400)	(22,400)	38,220)	3,675)	(586)	(23,309)	(28,805)	(138,056)	1,139)	9,272)	2,171)	8,666)	1,770)	4,367)
Income from continuing operations before income taxes	739,900)	461,100)	308,900)	611,500)	819,200)	509,000)	503,900)	875,600)	747,400)	392,300)	297,412)	709,833)	675,701)	298,854)	102,025)	415,953)	538,086)	303,586)	284,889)	427,722)	509,003)	306,605)
Income taxes	(162,000)	(90,300)	(4,900)	(109,300)	(170,600)	(99,400)	(96,900)	(169,800)	(151,500)	(70,600)	(48,790)	(133,395)	(204,698)	(53,617)	(1,037)	(61,926)	(134,482)	(53,459)	612,504)	(111,116)	(148,352)	(67,453)
Net income from continuing operations	577,900)	370,800)	304,000)	502,200)	648,600)	409,600)	407,000)	705,800)	595,900)	321,700)	248,622)	576,438)	471,003)	245,237)	100,988)	354,027)	403,604)	250,127)	897,393)	316,606)	360,651)	239,152)
Net loss from discontinued operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(41,540)	—)
Net income	577,900)	370,800)	304,000)	502,200)	648,600)	409,600)	407,000)	705,800)	595,900)	321,700)	248,622)	576,438)	471,003)	245,237)	100,988)	354,027)	403,604)	250,127)	897,393)	316,606)	319,111)	239,152)

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Sherwin-Williams Co. net sales increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Sherwin-Williams Co. operating income increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Income from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Sherwin-Williams Co. income from continuing operations before income taxes increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Sherwin-Williams Co. net income increased from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Sherwin-Williams Co. (NYSE:SHW)

Income StatementQuarterly Data

Income Statement
Quarterly Data