Sherwin-Williams Co. Files 2023 Annual Report on Form 10-K
Ticker: SHW · Form: 10-K · Filed: Feb 20, 2024 · CIK: 89800
Sentiment: neutral
Topics: Sherwin-Williams, 10-K, Annual Report, Financials, Building Materials
TL;DR
<b>Sherwin-Williams Co. has filed its 2023 10-K annual report, detailing financial performance and corporate structure.</b>
AI Summary
SHERWIN WILLIAMS CO (SHW) filed a Annual Report (10-K) with the SEC on February 20, 2024. Sherwin-Williams Co. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Ohio and operates in the Retail - Building Materials, Hardware, Garden Supply sector. The filing covers the fiscal year 2023, with data also available for 2022 and 2021. Key financial statement items such as Accounts Payable, Asset Impairment Charges, and Other Liabilities are referenced. The report includes details on Common Stock, Retained Earnings, and Accumulated Other Comprehensive Income for multiple fiscal years.
Why It Matters
For investors and stakeholders tracking SHERWIN WILLIAMS CO, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Sherwin-Williams' financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial data and risk factors within the report are essential for stakeholders to understand the company's market position, potential challenges, and strategic direction in the building materials and hardware sector.
Risk Assessment
Risk Level: medium — SHERWIN WILLIAMS CO shows moderate risk based on this filing. The company operates in the Retail - Building Materials, Hardware, Garden Supply sector, which can be subject to economic downturns and competitive pressures, as indicated by the standard reporting of financial and operational data.
Analyst Insight
Investors should review the detailed financial statements and risk factors in the 10-K to assess Sherwin-Williams' performance and outlook in the current economic climate.
Key Numbers
- 20231231 — Fiscal Year End (Conformed Period of Report)
- 20240220 — Filing Date (Filed as of Date)
- 2023 — Fiscal Year (Filing Values)
- 2022 — Previous Fiscal Year (Filing Values)
- 2021 — Prior Fiscal Year (Filing Values)
Key Players & Entities
- SHERWIN WILLIAMS CO (company) — Filer name
- 0000089800 (company) — Central Index Key
- OH (location) — State of Incorporation and Business Address
- 101 PROSPECT AVE NW (location) — Business and Mail Address
- CLEVELAND (location) — Business and Mail Address City
- 44115 (location) — Business and Mail Address ZIP
- 2165662200 (phone) — Business Phone
FAQ
When did SHERWIN WILLIAMS CO file this 10-K?
SHERWIN WILLIAMS CO filed this Annual Report (10-K) with the SEC on February 20, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by SHERWIN WILLIAMS CO (SHW).
Where can I read the original 10-K filing from SHERWIN WILLIAMS CO?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SHERWIN WILLIAMS CO.
What are the key takeaways from SHERWIN WILLIAMS CO's 10-K?
SHERWIN WILLIAMS CO filed this 10-K on February 20, 2024. Key takeaways: Sherwin-Williams Co. filed its 10-K report for the fiscal year ending December 31, 2023.. The company is incorporated in Ohio and operates in the Retail - Building Materials, Hardware, Garden Supply sector.. The filing covers the fiscal year 2023, with data also available for 2022 and 2021..
Is SHERWIN WILLIAMS CO a risky investment based on this filing?
Based on this 10-K, SHERWIN WILLIAMS CO presents a moderate-risk profile. The company operates in the Retail - Building Materials, Hardware, Garden Supply sector, which can be subject to economic downturns and competitive pressures, as indicated by the standard reporting of financial and operational data.
What should investors do after reading SHERWIN WILLIAMS CO's 10-K?
Investors should review the detailed financial statements and risk factors in the 10-K to assess Sherwin-Williams' performance and outlook in the current economic climate. The overall sentiment from this filing is neutral.
Risk Factors
- Market Conditions [medium — market]: The company's financial performance is subject to fluctuations in market demand for its products, influenced by economic conditions and consumer spending.
- Supply Chain and Raw Material Costs [medium — operational]: Disruptions in the supply chain or significant increases in the cost of raw materials can adversely affect the company's profitability and operational efficiency.
- Environmental, Health, and Safety Regulations [low — regulatory]: Compliance with evolving environmental, health, and safety regulations is critical and may require significant investments and operational adjustments.
Key Dates
- 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 2023 10-K.
- 2024-02-20: Filing Date — Date the 10-K report was officially filed with the SEC.
Filing Stats: 4,246 words · 17 min read · ~14 pages · Grade level 16.5 · Accepted 2024-02-20 15:57:54
Key Financial Figures
- $0.33 — registered Common Stock, par value of $0.33-1/3 per share SHW New York Stock Exchan
Filing Documents
- shw-20231231.htm (10-K) — 2853KB
- shw-12312023xex10a.htm (EX-10.A) — 303KB
- shw-12312023xex10aa.htm (EX-10.AA) — 172KB
- shw-12312023xex10b.htm (EX-10.B) — 5KB
- shw-12312023xex10c.htm (EX-10.C) — 95KB
- shw-12312023xex10e.htm (EX-10.E) — 66KB
- shw-12312023xex10g.htm (EX-10.G) — 126KB
- shw-12312023xex10m.htm (EX-10.M) — 179KB
- shw-12312023xex10s.htm (EX-10.S) — 118KB
- shw-12312023xex10w.htm (EX-10.W) — 103KB
- shw-12312023xex10z.htm (EX-10.Z) — 60KB
- shw-12312023xex21.htm (EX-21) — 83KB
- shw-12312023xex23.htm (EX-23) — 10KB
- shw-12312023xex24a.htm (EX-24.A) — 24KB
- shw-12312023xex24b.htm (EX-24.B) — 6KB
- shw-12312023xex31a.htm (EX-31.A) — 10KB
- shw-12312023xex31b.htm (EX-31.B) — 10KB
- shw-12312023xex32a.htm (EX-32.A) — 6KB
- shw-12312023xex32b.htm (EX-32.B) — 6KB
- shw-12312023xex97.htm (EX-97) — 33KB
- shw-20231231_g1.jpg (GRAPHIC) — 108KB
- shw-20231231_g2.jpg (GRAPHIC) — 75KB
- shw-20231231_g3.jpg (GRAPHIC) — 15KB
- shw-20231231_g4.jpg (GRAPHIC) — 52KB
- 0000089800-24-000033.txt ( ) — 18485KB
- shw-20231231.xsd (EX-101.SCH) — 96KB
- shw-20231231_cal.xml (EX-101.CAL) — 137KB
- shw-20231231_def.xml (EX-101.DEF) — 510KB
- shw-20231231_lab.xml (EX-101.LAB) — 1319KB
- shw-20231231_pre.xml (EX-101.PRE) — 880KB
- shw-20231231_htm.xml (XML) — 3068KB
Business
Item 1. Business 1 Cautionary Statement Regarding Forward-Looking Information 5
Risk Factors
Item 1A. Risk Factors 6
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 16
Cybersecurity
Item 1C. Cybersecurity 16
Properties
Item 2. Properties 18
Legal Proceedings
Item 3. Legal Proceedings 19
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 19 Information About Our Executive Officers 20 PART II
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22
[Reserved]
Item 6. [Reserved] 23
Management's Discussion and Analysis of Financial Condition and Results of
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures About Market Risk
Item 7A. Quantitative and Qualitative Disclosures About Market Risk 40
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 41
Changes in and Disagreements with Accountants on Accounting and Financial
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 92
Controls and Procedures
Item 9A. Controls and Procedures 92
Other Information
Item 9B. Other Information 92
Disclosure Regarding Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Jurisdictions that Prevent Inspections 92 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 93
Executive Compensation
Item 11. Executive Compensation 93
Security Ownership of Certain Beneficial Owners and Management and Related
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 94
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 94
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 94 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 95
Form 10-K Summary
Item 16. Form 10-K Summary 101
Signatures
Signatures 102 Table of Contents PART I
BUSINESS
ITEM 1. BUSINESS Introduction The Sherwin-Williams Company, founded in 1866 and incorporated in Ohio in 1884, is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean region, Europe, Asia and Australia. Our principal executive offices are located at 101 West Prospect Avenue, Cleveland, Ohio 44115-1075, telephone (216) 566-2000. As used in this report, the terms "Sherwin-Williams," "Company," "we", "us" and "our" mean The Sherwin-Williams Company and its consolidated subsidiaries unless the context indicates otherwise. Available Information We make available free of charge on or through our website our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and amendments to these reports, as soon as reasonably practicable after we electronically file such material with, or furnish such material to, the Securities and Exchange Commission (SEC). You may access these documents on our Investor Relations website, investors.sherwin.com. We also make available free of charge on our website our Corporate Governance Guidelines, our Director Independence Standards, our Code of Conduct and the charters of our Audit Committee, our Compensation and Management Development Committee and our Nominating and Corporate Governance Committee. You may access these documents on our Investor Relations website, investors.sherwin.com. Basis of Reportable Segments The Company reports its segment information in the same way that management internally organizes its business for assessing performance and making decisions regarding allocation of resources. The Company has three reportable operating segments: Paint Stores Group, Consumer Brands Group and Performance Coatings Group (individually, a Reportable Segment and collectively, the Reportable Segments). The Com