Income Statement Balance Sheet Cash Flow Segments

PPG Industries Balance Sheet Statement

Assets, liabilities, and shareholders' equity

PPG Industries holds $22.2B in total assets. Shareholders' equity is $8.1B against $7.0B in total debt. Cash and equivalents total $1.6B. The current ratio is 1.61 and debt-to-equity is 0.869. Based on the Q1 2026 filing.

Total Assets$22.2B Total Stockholders Equity$8.1B Long Term Debt$6.4B Cash And Equivalents$1.6B Total Current Assets$8.0B Total Current Liabilities$5.0B

Latest FilingQ1 2026

Report Date2026-04-29

Market Cap$26.4B

P/E Ratio16.63

ROE21.09%

Current Liabilities

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Accounts payable	$2.2B	$3.9B	$4.1B	$3.9B	$2.2B	$4B
Accrued compensation	$490M	—	—	—	$549M	—
Accrued Environmental Liabilities	$222M	$219M	$228M	$212M	$206M	$195M
Accrued expenses	$510M	$219M	$228M	$212M	$206M	$195M
Current Pension and Postretirement Benefit Liabilities	$76M	—	—	—	$75M	—
Commercial Paper Outstanding	$302M	$296M	$296M	$270M	$272M	$271M
Accounts payable and other current liabilities (Note 11)	$3.7B	$3.9B	$4.1B	$3.9B	$4B	$4B
Accrued Income Taxes, Current	$130M	—	—	—	$118M	—
Current portion of long-term debt	$7M	$13M	$4M	$4M	$4M	$41M
Income taxes payable	$130M	—	—	—	$118M	—
Operating lease liabilities, current	$126M	$134M	$141M	$140M	$138M	$138M
Restructuring Reserve	$276M	$267M	$267M	$246M	$226M	$205M
Short-term borrowings	$7M	$13M	$4M	$4M	$4M	$41M
Supplier Finance Program Obligations	25100000000.0%	23000000000.0%	26600000000.0%	23800000000.0%	24500000000.0%	24700000000.0%
Total current liabilities	$5B	$5.8B	$5.8B	$5.6B	$4.9B	$5B

Current Assets

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Accounts receivable, net	$508M	$3.4B	$3.9B	$3.7B	$553M	$3.7B
Allowance for Doubtful Accounts	$23M	$20M	$20M	$19M	$22M	$20M
Allowance for Doubtful Accounts Receivable (Current)	$23M	$20M	$20M	$19M	$22M	$20M
Cash and cash equivalents	$1.3B	$1.8B	$1.6B	$1.8B	$2.2B	$1.6B
Cash, Cash Equivalents, and Marketable Securities	$85M	—	—	—	$79M	—
Other current assets	$368M	$464M	$450M	$415M	$408M	$508M
Finished goods	$949M	$1.1B	$1.2B	$1.2B	$1.1B	$1.2B
Raw materials	$613M	$681M	$719M	$693M	$624M	$656M
Work in process	$235M	$251M	$270M	$277M	$251M	$269M
Inventories	$1.8B	$2.1B	$2.2B	$2.2B	$2B	$2.2B
Inventory LIFO Reserve	$169M	$172M	$180M	$181M	$181M	$182M
Prepaid expenses and other current assets	$368M	$464M	$450M	$415M	$408M	$508M
Materials and supplies	$49M	$52M	$55M	$53M	$54M	$56M
Short-term investments	$88M	$63M	$64M	$76M	$56M	$51M
Total current assets	$6.6B	$7.9B	$8.2B	$8.2B	$8B	$8B

Non-Current Liabilities

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Accrued Employee Benefits (Non-Current)	$410M	$408M	$409M	$406M	$392M	$390M
Asset retirement obligations	$11M	—	—	—	$12M	—
Debt Maturity - 2027	$621M	—	—	—	$2B	—
Deferred tax liabilities	$105M	—	—	—	$13M	—
Defined Benefit Pension Plan Liabilities (Non-Current)	$558M	$562M	$562M	$562M	$550M	$550M
Deferred Tax Liabilities - Leasing Arrangements	$148M	—	—	—	$150M	—
Finance lease liabilities	$5M	$6M	$6M	$7M	$5M	$6M
Finance Lease Liabilities (Total)	$7M	$6M	$6M	$7M	$7M	$6M
Long-term debt	$4.9B	$5.6B	$5.9B	$5.9B	$6.6B	$6.4B
Long-Term Debt and Finance Lease Obligations	$5.8B	—	—	—	$7.3B	—
Long-Term Debt - Fair Value	$5.6B	—	—	—	$7.2B	—
Other Accounts Payable and Accrued Liabilities	$510M	—	—	—	$570M	—
Postretirement benefit obligations other than pensions	$410M	$408M	$409M	$406M	$392M	$390M
Operating lease liabilities, non-current	$454M	$466M	$475M	$460M	$450M	$449M
Other non-current liabilities	$754M	$737M	$727M	$738M	$650M	$651M
Other Pension and Postretirement Benefit Liabilities	$410M	$408M	$409M	$406M	$392M	$390M
Total liabilities	$12.5B	$14B	$14.4B	$14.2B	$14B	$13.9B
Unrecognized Tax Benefits	$141M	—	—	—	$111M	—
Unrecognized Tax Benefits - Impacting Effective Tax Rate	$138M	—	—	—	$94M	—
Unrecognized Tax Benefits - Income Tax Penalties and Interest Accrued	$11M	—	—	—	$11M	—

Non-Current Assets

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Accumulated Goodwill Impairment Losses	—	—	—	—	$158M	—
Deferred tax assets	$389M	$464M	$501M	$506M	$457M	$496M
Deferred Tax Assets and Other Non-Current Assets	$280M	$596M	$594M	$619M	$258M	$625M
Deferred Tax Assets - Tax Credit Carryforwards	$112M	—	—	—	$128M	—
Equity method investments	$141M	$146M	$151M	$156M	$151M	$156M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)	$81M	$75M	$75M	$75M	$71M	$64M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year Five)	—	$282M	$312M	$288M	$299M	$252M
Finite Lived Intangible Assets - Gross	$2.8B	$2.8B	$3B	$3B	$2.9B	$3B
Goodwill	$5.7B	$5.8B	$6.1B	$6.1B	$6.1B	$6.2B
Goodwill and Intangible Assets, Net	$607M	—	—	—	$643M	—
Indefinite-Lived Intangible Assets	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B	$1.3B
Indefinite-Lived Research and Development Assets	$259M	—	—	—	$304M	—
Indefinite-Lived Trademarks	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B	$1.3B
Intangible Assets Gross (Excluding Goodwill)	$3.9B	$4B	$4.2B	$4.2B	$4.2B	$4.2B
Intangible assets, net	$799M	$783M	$780M	$723M	$697M	$690M
Net Investment in Lease	$597M	$616M	$634M	$615M	$604M	$603M
Net Operating Loss Carryforwards	$235M	—	—	—	$190M	—
Deferred tax assets	$303M	$414M	$522M	$528M	$481M	$499M
Intangible assets — net	$799M	$783M	$780M	$723M	$697M	$690M
Other intangible assets—net	$1.9B	$1.9B	$2B	$2B	$2B	$2B
Investments	$331M	$317M	$338M	$342M	$332M	$346M
Operating lease right-of-use assets	$597M	$616M	$634M	$615M	$604M	$603M
Other non-current assets	$569M	$596M	$594M	$619M	$597M	$625M
Property, plant and equipment at cost	$7.7B	—	—	—	$8.7B	—
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2026, $85; 2025, $84)	$88M	$63M	$64M	$76M	$56M	$51M
Operating lease right-of-use assets	$0	$616M	$634M	$615M	$604M	$603M
Operating Lease Right-of-Use Assets in Other Assets	$597M	$616M	$634M	$615M	$604M	$603M
Other Investments	$105M	—	—	—	$102M	—
Other non-current assets	$717M	$596M	$594M	$619M	$597M	$625M
Accumulated depreciation	$4.2B	$4.4B	$4.6B	$4.7B	$4.7B	$4.8B
Property and equipment, net	$3.5B	$3.5B	$3.7B	$3.7B	$4B	$4B
Software and Technology Licenses, Net	$569M	$596M	$594M	$619M	$597M	$625M
Tax Credit Carryforward Valuation Allowance	$327M	—	—	—	$258M	—
Total assets	$19.4B	$21.1B	$22.1B	$22.1B	$22.1B	$22.2B

Equity

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Additional paid-in capital	$1.3B	$1.3B	$1.3B	$1.3B	$1.3B	$1.4B
Accumulated other comprehensive income (loss)	-$3.1B	-$2.8B	-$2.3B	-$2.3B	-$2.2B	-$2.2B
Common stock	$969M	$969M	$969M	$969M	$969M	$969M
Common Stock Par Value Per Share	$1.67	—	—	—	$1.67	—
Common Stock Shares Issued	229.9M	—	—	—	223.4M	—
Common Stock Shares Outstanding	$15M	—	—	—	$1M	—
Cumulative Gross Losses and Impairments	—	—	—	—	$158M	—
Additional paid-in capital	$1.3B	$1.3B	$1.3B	$1.3B	$1.3B	$1.4B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$969M	$969M	$969M	$969M	$969M	$969M
Treasury Stock, Value	$14.3B	$14.7B	$14.9B	$15B	$15.1B	$15.2B
Noncontrolling interests	$177M	$165M	$167M	$156M	$156M	$150M
Number of Exercisable Options	2.3M	—	—	—	2.5M	—
Number of Vested and Expected to Vest Options	$15M	—	—	—	$1M	—
Preferred stock	$10000000.00	—	—	—	$10000000.00	—
Retained earnings	$22B	$22.2B	$22.5B	$22.8B	$22.9B	$23.2B
Share-Based Payment Award Options Outstanding - Number	3.5M	—	—	—	3.8M	—
Share-Based Payment - Unrecognized Cost of Nonvested Awards	$139.14	—	—	—	$126.62	—
Total liabilities and stockholders' equity	$19.4B	$21.1B	$22.1B	$22.1B	$22.1B	$22.2B
Total stockholders' equity	$6.8B	$6.9B	$7.6B	$7.8B	$7.9B	$8.1B
Treasury stock	$14.3B	$14.7B	$14.9B	$15B	$15.1B	$15.2B
Undistributed Earnings of Foreign Subsidiaries	$6.1B	—	—	—	$7.5B	—
Weighted Average Exercise Price of Outstanding Options	$125.15	—	—	—	$124.56	—
Weighted Average Exercise Price of Vested and Expected to Vest Options	$124.95	—	—	—	$124.64	—

Other

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Cumulative Cost Basis	$7.7B	—	—	—	$8.7B	—
Defined Benefit Plan Discount Rate	$0.1	—	—	—	$0.1	—
Accumulated Benefit Obligation for Plans with ABO in Excess of Assets	$1.3B	—	—	—	$1.3B	—
Defined Benefit Plan Healthcare Cost Trend Rate	5.5%	—	—	—	6.6%	—
Accrual for Environmental Loss Contingencies	$222M	$219M	$228M	$212M	$206M	$195M
Accrued Environmental Loss Contingencies, Current	$39M	$41M	$49M	$45M	$57M	$54M
Accounts Receivable, Allowance for Credit Loss	$23M	$20M	$20M	$19M	$22M	$20M
Asset Retirement Obligation	$11M	—	—	—	$12M	—
Available for sale investments	$85M	—	—	—	$79M	—
Common stock, par value (in dollars per share)	$1.7	—	—	—	$1.7	—
Common stock, shares authorized (in shares)	$1.2B	—	—	—	$1.2B	—
Common stock, shares issued (in shares)	$229.9M	—	—	—	$223.4M	—
Common Stock, Shares, Outstanding	$229.9M	—	—	—	$223.4M	—
Short-term debt and current portion of long-term debt	$939M	$1.7B	$1.4B	$1.4B	$706M	$736M
Debt Instrument, Fair Value Disclosure	$5.6B	—	—	—	$7.2B	—
Amount deferred under the compensation plan, including income earned	$125M	—	—	—	$116M	—
Investments in marketable securities by the deferred compensation plan	$94M	—	—	—	$89M	—
Deferred Tax Liabilities, Gross	$1.2B	—	—	—	$1.1B	—
Deferred income taxes	$405M	$464M	$501M	$506M	$457M	$496M
Deferred Tax Assets, Net	—	—	—	—	$24M	—
Deferred Tax Assets, Net of Valuation Allowance	$1.1B	—	—	—	$1.1B	—
Deferred Tax Assets, Operating Loss Carryforwards	$389M	—	—	—	$324M	—
Compensation and benefits	$215M	—	—	—	$203M	—
Allowance for unfunded lending related commitments	$144M	—	—	—	$145M	—
Powder Metal Matter	$105M	—	—	—	$98M	—
Deferred Tax Assets, Valuation Allowance	$327M	—	—	—	$258M	—
Deferred Tax Liabilities, Net	$102M	—	—	—	—	—
Employee benefits	$39M	—	—	—	$43M	—
Deferred Tax Liabilities, Other	$105M	—	—	—	$13M	—
Deferred Tax Liabilities, Property, Plant and Equipment	$268M	—	—	—	$201M	—
Future pension and postretirement benefit obligations	$558M	$562M	$562M	$562M	$550M	$550M
Salary scale, pension benefit obligation	2.9%	—	—	—	2.9%	—
Less: Fair value of plan assets at end of period	$1.6B	—	—	—	$1.7B	—
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year	$0.1	—	—	—	$0.1	—
Fair value of plan assets	$717M	—	—	—	$761M	—
Fair value of plan assets	$712M	—	—	—	$746M	—
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	$0	—	—	—	$0	—
FIFO adjustment	$169M	—	—	—	$181M	—
Equity method investments (Note 11)	$141M	$146M	$151M	$156M	$151M	$156M
2027	$2M	—	—	—	$2M	—
Finite-Lived Intangible Assets, Accumulated Amortization	$2B	$2.1B	$2.2B	$2.2B	$2.2B	$2.3B
2028	$97M	$89M	$89M	$89M	$84M	$80M
2030	$81M	$75M	$75M	$75M	$71M	$64M
2031	$75M	$64M	$64M	$64M	$62M	$55M
Remainder of 2026	—	$95M	$62M	$29M	—	$79M
2027	$126M	$97M	$97M	$97M	$104M	$87M
2029	$89M	$81M	$81M	$81M	$77M	$73M
Finite Lived Intangible Assets Amortization Expense After Year Five	—	$282M	$312M	$288M	$299M	$252M
Gross Carrying Amount	$2.8B	$2.8B	$3B	$3B	$2.9B	$3B
Goodwill accumulated impairment losses	—	—	—	—	$158M	—
Historical low end of range of annual environmental remediation expense over the past 15 years	$5M	—	—	—	$5M	—
Historical high end of range of annual environmental remediation expense over the past 15 years	$40M	—	—	—	$40M	—
Income tax, potential U.S. tax cost for repatriation of foreign earnings	$142M	—	—	—	$167M	—
Intangible assets, accumulated amortization (excluding goodwill)	$2B	—	—	—	—	—
Indefinite- lived intangible impairment	$3.9B	$4B	$4.2B	$4.2B	$4.2B	$4.2B
Raw materials	$613M	$681M	$719M	$693M	$624M	$656M
Letters of Credit Outstanding, Amount	$302M	$296M	$296M	$270M	$272M	$271M
Outstanding letters of credit and surety bonds	$302M	—	—	—	$272M	—
Long-Term Debt, Adjustments Due To Derivatives	-$16M	—	—	—	-$6M	—
Long-Term Debt and Lease Obligation	$5.8B	—	—	—	$7.3B	—
Fair value of long-term debt	$5.6B	$7.1B	$7.2B	$7.2B	$7.2B	$7B
2028	$1.5B	—	—	—	$702M	—
2029	$621M	—	—	—	$2B	—
2029	$1.1B	—	—	—	$295M	—
2030	$782M	—	—	—	$1.2B	—
Thereafter	$892M	—	—	—	$2.4B	—
2027	$933M	—	—	—	$702M	—
Noncontrolling interests in subsidiaries	$177M	$165M	$167M	$156M	$156M	$150M
Number of PPG subsidiaries	245.00	—	—	—	220.00	—
Operating Loss Carryforwards	$235M	—	—	—	$190M	—
Current pension and PRB liabilities (included in Accrued employee compensation)	$76M	—	—	—	$75M	—
Expenditures for property (including business acquisitions)	$752M	—	—	—	$779M	—
Customer rebates	$364M	—	—	—	$433M	—
Restructuring Reserve	$276M	$267M	$267M	$246M	$226M	$205M
Severance accrual, current	$128M	$130M	$147M	$115M	$99M	$78M
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$125	—	—	—	$124.6	—
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value	$139.1	—	—	—	$126.6	—
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number	$2.3M	—	—	—	$2.5M	—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	$3.5M	—	—	—	$3.8M	—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	$3.4M	—	—	—	$3.7M	—
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Number	644.3K	—	—	—	714.1K	—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$15M	—	—	—	$1M	—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$125.2	—	—	—	$124.6	—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	$15M	—	—	—	$1M	—
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price	—	$114.39	$114.39	$114.39	—	$125.55
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$116.5	—	—	—	$123	—
Vested or expected vest, at end of period	638.6K	—	—	—	689.7K	—
Vested or expected to vest, at end of period (in dollars per share)	$139.15	—	—	—	$139.81	—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value	$15M	—	—	—	$1M	—
Supplier finance program, obligation	$251M	$230M	$266M	$238M	$245M	$247M
Undistributed Earnings of Foreign Subsidiaries	$6.1B	—	—	—	$7.5B	—
Unrecognized tax benefits	$141M	—	—	—	$111M	—
Penalties and interest accrued on unrecognized tax benefits	$11M	—	—	—	$11M	—
Amount that if recognized, would affect the effective tax rate or regulatory liability	$138M	—	—	—	$94M	—
Valuation Allowances And Reserves Balance	$327M	—	—	—	$258M	—
Remainder of Fiscal Year 2024	—	$95M	$62M	$29M	—	$79M
Remainder of Fiscal Year 2025	—	$95M	$62M	$29M	—	$79M