Axalta Coating Systems Ltd. Files 2024 10-K

TL;DR

Axalta filed its 2024 10-K. Full financial picture for the year ending Dec 31, 2024.

AI Summary

Axalta Coating Systems Ltd. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Philadelphia, PA, operates in the paints, varnishes, lacquers, enamels & allied products industry. Key financial data and business operations for the period are detailed within the filing.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Axalta's financial performance, operational status, and strategic outlook for the fiscal year 2024.

Risk Assessment

Risk Level: medium — This is a standard annual financial filing providing historical data and does not inherently indicate new risks.

Key Players & Entities

• Axalta Coating Systems Ltd. (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-13 (date) — Filing date
• Philadelphia, PA (location) — Company headquarters

FAQ

Key Financial Figures

• $1.00 — tion 12(b) of the Act: Common Shares, $1.00 par value AXTA New York Stock Exchange

Filing Documents

• axta-20241231.htm (10-K) — 2976KB
• exhibit191-axaltacoatingsy.htm (EX-19.1) — 150KB
• exhibit211202410-kx122024.htm (EX-21.1) — 13KB
• exhibit231202410-kx122024.htm (EX-23.1) — 2KB
• exhibit311202410-kx122024.htm (EX-31.1) — 10KB
• exhibit312202410-kx122024.htm (EX-31.2) — 10KB
• exhibit321202410-kx122024.htm (EX-32.1) — 6KB
• exhibit322202410-kx122024.htm (EX-32.2) — 6KB
• axta-20241231_g1.jpg (GRAPHIC) — 71KB
• axta-20241231_g2.jpg (GRAPHIC) — 27KB
• axta-20241231_g3.jpg (GRAPHIC) — 27KB
• axta-20241231_g4.jpg (GRAPHIC) — 23KB
• axta-20241231_g5.jpg (GRAPHIC) — 30KB
• axta-20241231_g6.jpg (GRAPHIC) — 25KB
• axta-20241231_g7.jpg (GRAPHIC) — 31KB
• axta-20241231_g8.jpg (GRAPHIC) — 63KB
• 0001616862-25-000013.txt ( ) — 17724KB
• axta-20241231.xsd (EX-101.SCH) — 99KB
• axta-20241231_cal.xml (EX-101.CAL) — 180KB
• axta-20241231_def.xml (EX-101.DEF) — 508KB
• axta-20241231_lab.xml (EX-101.LAB) — 1244KB
• axta-20241231_pre.xml (EX-101.PRE) — 909KB
• axta-20241231_htm.xml (XML) — 3119KB

Business

Business 3 ITEM 1A.

Risk Factors

Risk Factors 13 ITEM 1B. Unresolved Staff Comments 28 ITEM 1C. Cybersecurity 28 ITEM 2.

Properties

Properties 29 ITEM 3.

Legal Proceedings

Legal Proceedings 30 ITEM 4. Mine Safety Disclosures 30 PART II ITEM 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 33 ITEM 6. Reserved 33 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 101 ITEM 9A.

Controls and Procedures

Controls and Procedures 101 ITEM 9B. Other Information 101 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 101 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 102 ITEM 11.

Executive Compensation

Executive Compensation 102 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 102 ITEM 13. Certain Relationships and Related Transactions and Director Independence 102 ITEM 14. Principal Accountant Fees and Services 102 PART IV ITEM 15. Exhibits and Financial Statement Schedules 103 ITEM 16. Form 10-K Summary 110

Signatures

Signatures 111 2 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS Axalta Coating Systems Ltd. ("Axalta," the "Company," "we," "our" and "us"), a Bermuda exempted holding company incorporated in 2012, is a leading global manufacturer, marketer and distributor of high-performance coatings systems and products. We have over a 150-year heritage in the coatings industry and are known for manufacturing high-quality products with well-recognized brands supported by market-leading technology and customer service. Over the course of our history we have remained at the forefront of our industry by continually developing innovative coatings technologies designed to enhance the performance, appearance and sustainability attributes of our customers' products, while improving their productivity and profitability. Our diverse global footprint allows us to meet the needs of our customer base through an extensive sales force and technical support organization, as well as independent, locally-based distributors. Our scale and strong local presence are critical to our success, allowing us to leverage our technology portfolio and customer relationships globally while meeting customer demands locally. We operate our business in two operating segments, Performance Coatings and Mobility Coatings, serving four end-markets globally as highlighted below. The table above reflects numbers for the year ended December 31, 2024. 3 Table of Contents Net sales for our four end-markets and four regions for the year ended December 31, 2024 are highlighted below: Note: Latin America includes Mexico. EMEA represents Europe, Middle East and Africa. SEGMENT OVERVIEW Performance Coatings Through our Performance Coatings segment, we provide high-quality sustainable liquid and powder coating solutions to both large regional and global customers and to a fragmented and local customer base. These customers comprise, among others, independent or multi-shop operator body shops as well as a wide variety of industrial manufacturers. We are one o

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View this 10-K filing on SEC EDGAR