$MAS
MASCO CORP /DE/

2014 Q2 Form 10-Q Financial Statement

#000110465914054330 Filed on July 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q4 2013 Q3
Revenue $2.260B $1.998B $2.150B
YoY Change 5.17% 9.12% 12.39%
Cost Of Revenue $1.599B $1.467B $1.543B
YoY Change 3.83% 6.3% 9.2%
Gross Profit $661.0M $531.0M $607.0M
YoY Change 8.54% 17.74% 21.4%
Gross Profit Margin 29.25% 26.58% 28.23%
Selling, General & Admin $421.0M $390.0M $395.0M
YoY Change 0.0% 4.0% 1.02%
% of Gross Profit 63.69% 73.45% 65.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $186.0M
YoY Change -13.08%
% of Gross Profit 35.03%
Operating Expenses $421.0M $390.0M $395.0M
YoY Change 0.0% 4.0% 1.02%
Operating Profit $240.0M $141.0M $212.0M
YoY Change 27.66% 85.53% 96.3%
Interest Expense $56.00M -$51.00M $58.00M
YoY Change -6.67% -10.53% -6.45%
% of Operating Profit 23.33% -36.17% 27.36%
Other Income/Expense, Net -$50.00M -$68.00M -$52.00M
YoY Change -10.71% 28.3% 4.0%
Pretax Income $190.0M $73.00M $160.0M
YoY Change 43.94% -431.82% 175.86%
Income Tax $37.00M $20.00M $38.00M
% Of Pretax Income 19.47% 27.4% 23.75%
Net Earnings $139.0M $45.00M $103.0M
YoY Change 78.21% -151.72% 586.67%
Net Earnings / Revenue 6.15% 2.25% 4.79%
Basic Earnings Per Share $0.39 $0.13 $0.29
Diluted Earnings Per Share $0.39 $0.12 $0.29
COMMON SHARES
Basic Shares Outstanding 349.0M shares 357.0M shares 349.0M shares
Diluted Shares Outstanding 352.0M shares 352.0M shares

Balance Sheet

Concept 2014 Q2 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.423B $1.544B $1.288B
YoY Change 16.35% 14.29% 10.46%
Cash & Equivalents $1.195B $1.223B $1.011B
Short-Term Investments $228.0M $321.0M $277.0M
Other Short-Term Assets $160.0M $155.0M $217.0M
YoY Change -23.81% -25.12% 110.68%
Inventory $894.0M $765.0M $777.0M
Prepaid Expenses
Receivables $1.306B $1.004B $1.211B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.783B $3.468B $3.493B
YoY Change 8.74% 7.8% 7.31%
LONG-TERM ASSETS
Property, Plant & Equipment $1.216B $1.252B $1.257B
YoY Change -4.7% -5.58% -15.3%
Goodwill $1.902B $1.903B $1.900B
YoY Change 0.42% 0.48% 0.48%
Intangibles $149.0M $149.0M $149.0M
YoY Change 0.0% -1.32% -22.8%
Long-Term Investments $61.00M $70.00M
YoY Change
Other Assets $177.0M $185.0M $187.0M
YoY Change -5.85% -3.65% -2.09%
Total Long-Term Assets $3.444B $3.489B $3.587B
YoY Change -4.28% -4.83% -4.63%
TOTAL ASSETS
Total Short-Term Assets $3.783B $3.468B $3.493B
Total Long-Term Assets $3.444B $3.489B $3.587B
Total Assets $7.227B $6.957B $7.080B
YoY Change 2.12% 1.08% 0.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.122B $902.0M $986.0M
YoY Change 12.42% 14.47% 13.86%
Accrued Expenses $833.0M $874.0M $847.0M
YoY Change 5.58% 6.2% -4.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $507.0M $6.000M $5.000M
YoY Change 144.93% -97.09% -97.58%
Total Short-Term Liabilities $2.462B $1.782B $1.887B
YoY Change 20.57% -4.3% -4.07%
LONG-TERM LIABILITIES
Long-Term Debt $2.921B $3.421B $3.421B
YoY Change -14.62% -0.03% -0.03%
Other Long-Term Liabilities $666.0M
YoY Change 16550.0%
Total Long-Term Liabilities $2.921B $3.421B $3.421B
YoY Change -14.62% -0.03% -0.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.462B $1.782B $1.887B
Total Long-Term Liabilities $2.921B $3.421B $3.421B
Total Liabilities $6.325B $6.170B $6.373B
YoY Change -2.89% -2.7% 0.49%
SHAREHOLDERS EQUITY
Retained Earnings $205.0M $79.00M $36.00M
YoY Change -612.5% -177.45% -340.0%
Common Stock $362.0M $365.0M $357.0M
YoY Change 3.72% 0.0% -6.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $686.0M $559.0M $474.0M
YoY Change
Total Liabilities & Shareholders Equity $7.227B $6.957B $7.059B
YoY Change 2.34% 1.19% 0.61%

Cashflow Statement

Concept 2014 Q2 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $139.0M $45.00M $103.0M
YoY Change 78.21% -151.72% 586.67%
Depreciation, Depletion And Amortization $186.0M
YoY Change -13.08%
Cash From Operating Activities $305.0M $295.0M $291.0M
YoY Change 13.38% 54.45% 209.57%
INVESTING ACTIVITIES
Capital Expenditures -$28.00M -$38.00M -$29.00M
YoY Change 0.0% -2.56% 3.57%
Acquisitions
YoY Change
Other Investing Activities $74.00M -$18.00M -$54.00M
YoY Change 270.0% -166.67% -307.69%
Cash From Investing Activities $46.00M -$56.00M -$83.00M
YoY Change -25.81% 366.67% 388.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.00M -26.00M -229.0M
YoY Change -4.84% -7.14% -70.3%
NET CHANGE
Cash From Operating Activities 305.0M 295.0M 291.0M
Cash From Investing Activities 46.00M -56.00M -83.00M
Cash From Financing Activities -59.00M -26.00M -229.0M
Net Change In Cash 292.0M 213.0M -21.00M
YoY Change 370.97% 41.06% 23.53%
FREE CASH FLOW
Cash From Operating Activities $305.0M $295.0M $291.0M
Capital Expenditures -$28.00M -$38.00M -$29.00M
Free Cash Flow $333.0M $333.0M $320.0M
YoY Change 12.12% 44.78% 162.3%

Facts In Submission

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IncomeTaxExpenseBenefit
37000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
42000000 USD
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
13000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
25000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.39
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.61
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.39
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.60
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1000000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-3000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-6000000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
2000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
3000000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
11000000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
22000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
163000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
54000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
34000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8000000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
222000000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
250000000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
137000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
16000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-4000000 USD
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1

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