- \n
- \nFirst-quarter net sales increased 17.1% to a record $1.93 billion\n<\/li>\n
- \nFirst-quarter net income increased 25.6% to a record $169.0 million, income before income taxes was a record $225.1 million, diluted EPS was $1.31, and adjusted diluted EPS was a record $1.47\n<\/li>\n
- \nFirst-quarter EBIT increased 29.8% to a record $255.5 million and adjusted EBIT increased 33.1% to a record $275.3 million\n<\/li>\n
- \nFiscal 2023 second-quarter outlook calls for sales growth of 9% to 12% and adjusted EBIT growth of 30% to 40%\n<\/li>\n<\/ul>\n
MEDINA, Ohio–(BUSINESS WIRE<\/a>)–
\nRPM International Inc. (NYSE: RPM), a world leader in specialty coatings, sealants and building materials, today reported financial results for its fiscal 2023 first quarter ended August 31, 2022.\n<\/p>\n\n\u201cI am proud of RPM associates\u2019 ability to generate record first-quarter consolidated sales and adjusted EBIT. Our businesses skillfully navigated supply chain tightness, cost inflation, macroeconomic challenges and foreign exchange headwinds to expand margins and deliver record first-quarter financial results. In addition, they have continued to implement MAP operational improvement initiatives, with a positive impact on our top and bottom lines,\u201d commented RPM Chairman and CEO Frank C. Sullivan.\n<\/p>\n
\n\u201cAll four of our segments achieved double-digit sales growth driven by our procurement and technical teams\u2019 ability to increase material supply through insourcing and qualifying new suppliers. Additionally, pricing was managed by implementing increases to catch up with persistent cost inflation. Three out of our four segments generated strong adjusted EBIT growth, led by our Consumer Group, which benefited from MAP operational efficiencies that were enhanced by our ability to improve material supply. While the global macroeconomic outlook is uncertain, we believe that our MAP 2025 initiatives, diversified business model and strategic focus on maintenance and restoration position us well for the future,\u201d he added.\n<\/p>\n
First-Quarter 2023 Consolidated Results<\/b><\/p>\n
\n
\n Consolidated<\/span><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Three Months Ended<\/b><\/td>\n \n \n \n <\/tr>\n \n $ in 000s except per share data<\/i><\/td>\n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n
\n $ Change<\/b><\/td>\n % Change<\/b><\/td>\n<\/tr>\n \n Net Sales<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n1,932,320\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1,650,420\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n281,900\n<\/p>\n<\/td>\n
\n \n \n17.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Net Income Attributable to RPM Stockholders<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n169,013\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n134,582\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n34,431\n<\/p>\n<\/td>\n
\n \n \n25.6\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Diluted Earnings Per Share (EPS)<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1.31\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1.04\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n0.27\n<\/p>\n<\/td>\n
\n \n \n26.0\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes (IBT)<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n225,121\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n181,471\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n43,650\n<\/p>\n<\/td>\n
\n \n \n24.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Earnings Before Interest and Taxes (EBIT)<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n255,496\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n196,830\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n58,666\n<\/p>\n<\/td>\n
\n \n \n29.8\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EBIT(1)<\/sup><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n275,265\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n206,806\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n68,459\n<\/p>\n<\/td>\n
\n \n \n33.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EPS(1)<\/sup><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1.47\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1.08\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n0.39\n<\/p>\n<\/td>\n
\n \n \n36.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) Excludes certain items that are not indicative of RPM’s ongoing operations. See tables below titled Supplemental Segment Information and Reconciliation of Reported to Adjusted Amounts for details.<\/td>\n<\/tr>\n<\/table>\n \nRecord sales were driven by improving material supply through insourcing and qualifying new suppliers. Price increases across all segments helped offset foreign exchange headwinds and cost inflation, which remained elevated. Geographically, demand was strong in the U.S. and in emerging markets. European demand was weak during the quarter as the region experienced increasing inflation and other macroeconomic headwinds. Sales included 19.5% of organic growth, 1.0% growth from acquisitions and foreign currency translation headwinds of 3.4%.\n<\/p>\n
\nIn addition to strong sales growth, record fiscal 2023 first-quarter adjusted EBIT benefited from $30 million in MAP 2025 savings as improved material supply allowed savings from operational initiatives to be realized.\n<\/p>\n
First-Quarter 2023 Segment Sales and Earnings<\/b><\/p>\n
\n
\n Construction Products Group<\/span><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n \n Three Months Ended<\/b><\/td>\n \n \n <\/tr>\n \n $ in 000s<\/i><\/td>\n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n \n \n <\/tr>\n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n
\n $ Change<\/b><\/td>\n % Change<\/b><\/td>\n<\/tr>\n \n Net Sales<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n729,697\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n644,362\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n85,335\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13.2\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n109,202\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n114,357\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(5,155\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n(4.5\n<\/p>\n<\/td>\n
\n \n%)\n<\/p>\n<\/td>\n<\/tr>\n
\n EBIT<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n109,969\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n116,227\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(6,258\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n(5.4\n<\/p>\n<\/td>\n
\n \n%)\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EBIT(1)<\/sup><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n111,150\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n117,179\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(6,029\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n(5.1\n<\/p>\n<\/td>\n
\n \n%)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) Excludes certain items that are not indicative of RPM’s ongoing operations. See tables below titled Supplemental Segment Information for details.<\/td>\n<\/tr>\n<\/table>\n \nCPG\u2019s record sales were driven by roofing systems, which benefited from increased public sector spending, its turn-key service model and focus on renovations. Admixtures and repair products for concrete generated strong sales growth and grew share. Pricing management in response to persistent cost inflation and strength in Asia-Pacific markets also contributed to revenue growth. Sales included 15.8% of organic growth, 1.9% growth from acquisitions and foreign currency translation headwinds of 4.5%.\n<\/p>\n
\nAdjusted EBIT was pressured by a slowdown in Europe where cost pressures were severe, and volumes deteriorated as macroeconomic conditions worsened during the quarter. In Canada, profitability was reduced by inefficiencies, which resulted from a transportation strike and concrete shortages that impeded the completion of construction projects. Foreign currency and mix were headwinds to profitability. CPG also incurred a negative financial impact from the Corsicana plant as the facility ramps up production toward full capacity.\n<\/p>\n
\n
\n Performance Coatings Group<\/span><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Three Months Ended<\/b><\/td>\n \n \n \n <\/tr>\n \n $ in 000s<\/i><\/td>\n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n
\n $ Change<\/b><\/td>\n % Change<\/b><\/td>\n<\/tr>\n \n Net Sales<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n340,434\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n285,595\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n54,839\n<\/p>\n<\/td>\n
\n \n \n19.2\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n46,954\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n35,077\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n11,877\n<\/p>\n<\/td>\n
\n \n \n33.9\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n EBIT<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n46,773\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n34,995\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n11,778\n<\/p>\n<\/td>\n
\n \n \n33.7\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EBIT(1)<\/sup><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n47,875\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n37,530\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n10,345\n<\/p>\n<\/td>\n
\n \n \n27.6\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) Excludes certain items that are not indicative of RPM’s ongoing operations. See tables below titled Supplemental Segment Information for details.<\/td>\n<\/tr>\n<\/table>\n \nPCG\u2019s record sales were driven by double-digit growth in flooring systems, protective coatings and fiberglass reinforced plastic grating, all of which are strategically well-positioned to benefit from the trend of reshoring manufacturing to the U.S. Additionally, energy market demand was strong. Emerging markets\u2019 strength, pricing and improved sales management contributed to the record revenue as well. Sales included 23.6% of organic growth, no impact from acquisitions and foreign currency translation headwinds of 4.4%.\n<\/p>\n
\nRecord first-quarter adjusted EBIT was driven by volume growth, selling price increases and favorable mix resulting from digital sales management tools, which were partially offset by foreign exchange headwinds.\n<\/p>\n
\n
\n Specialty Products Group<\/span><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Three Months Ended<\/b><\/td>\n \n \n \n <\/tr>\n \n $ in 000s<\/i><\/td>\n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n
\n $ Change<\/b><\/td>\n % Change<\/b><\/td>\n<\/tr>\n \n Net Sales<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n202,697\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n182,055\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n20,642\n<\/p>\n<\/td>\n
\n \n \n11.3\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n27,885\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n24,556\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,329\n<\/p>\n<\/td>\n
\n \n \n13.6\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n EBIT<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n27,883\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n24,591\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,292\n<\/p>\n<\/td>\n
\n \n \n13.4\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EBIT(1)<\/sup><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n29,649\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n24,927\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,722\n<\/p>\n<\/td>\n
\n \n \n18.9\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) Excludes certain items that are not indicative of RPM’s ongoing operations. See tables below titled Supplemental Segment Information for details.<\/td>\n<\/tr>\n<\/table>\n \nSPG\u2019s record sales were driven by strength in food coatings and additives, which benefited from a new management team that has positioned the business to profit from increased institutional demand as pandemic-related restrictions eased. Revenues continued to grow in SPG\u2019s disaster restoration business as it worked through backlogs created by previous semiconductor chip shortages. Selling prices increased across most product lines in response to continued cost inflation. Sales included 12.8% of organic growth, 0.6% growth from acquisitions and foreign currency translation headwinds of 2.1%.\n<\/p>\n
\nRecord adjusted EBIT was driven by improved sales and pricing management, as well as increased fixed cost leverage from higher production volume at the disaster restoration business.\n<\/p>\n
\n
\n Consumer Group<\/span><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Three Months Ended<\/b><\/td>\n \n \n \n <\/tr>\n \n $ in 000s<\/i><\/td>\n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n
\n $ Change<\/b><\/td>\n % Change<\/b><\/td>\n<\/tr>\n \n Net Sales<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n659,492\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n538,408\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n121,084\n<\/p>\n<\/td>\n
\n \n \n22.5\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n116,689\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n45,915\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n70,774\n<\/p>\n<\/td>\n
\n \n \n154.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n EBIT<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n116,663\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n45,840\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n70,823\n<\/p>\n<\/td>\n
\n \n \n154.5\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EBIT(1)<\/sup><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n117,070\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n46,894\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n70,176\n<\/p>\n<\/td>\n
\n \n \n149.6\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (1) Excludes certain items that are not indicative of RPM’s ongoing operations. See tables below titled Supplemental Segment Information for details.<\/td>\n<\/tr>\n<\/table>\n \nMaterial supply, particularly alkyd resins, improved during the quarter from insourcing and qualifying new suppliers, and resulted in record sales. Sales also benefited from price increases to catch up with persistent cost inflation. Sales included 24.1% of organic growth, 0.4% growth from acquisitions and foreign currency translation headwinds of 2.0%.\n<\/p>\n
\nThe increase in adjusted EBIT was driven by MAP operational initiatives that were realized as a result of improved material supply conditions and price increases in response to continued cost inflation, which resulted in adjusted EBIT margins approaching long-term averages. Additionally, the Consumer Group experienced extraordinarily low profitability last year due to severe supply chain disruptions resulting from a plant explosion at an alkyd resin supplier, which contributed to the high year-over-year adjusted EBIT growth in the 2023 fiscal first quarter.\n<\/p>\n
Cash Flow and Financial Position<\/b><\/p>\n
\nDuring the fiscal 2023 first quarter:\n<\/p>\n
- \n
- \nCash provided by operating activities was $23.6 million compared to $76.1 million during the prior-year period. Despite higher earnings, the decrease was driven by inventory increases designed to build supply chain resiliency.\n<\/li>\n
- \nCapital expenditures were $57.8 million compared to $51.9 million during the prior-year period driven by organic growth opportunities and MAP 2025 efficiency programs.\n<\/li>\n
- \nThe company returned $76.4 million to shareholders through cash dividends and share repurchases.\n<\/li>\n<\/ul>\n
\nAs of August 31, 2022:\n<\/p>\n
- \n
- \nTotal debt was $2.84 billion compared to $2.43 billion a year ago.\n<\/li>\n
- \nTotal liquidity, including cash and committed revolving credit facilities, was $1.15 billion, compared to $1.38 billion a year ago. RPM\u2019s liquidity remains high, enabling it to manage supply chain challenges while continuing to invest in MAP operational improvements, acquisitions and organic growth opportunities.\n<\/li>\n<\/ul>\n
\nOn August 1, 2022, the company amended its revolving credit facility to increase the size of the facility to $1.35 billion from $1.30 billion and extended the term of the facility to August 1, 2027.\n<\/p>\n
\nAlso on August 1, 2022, the company extended the maturity of its term loan from February 21, 2023, to August 1, 2025, and prepaid $50 million. The term loan\u2019s remaining principal is $250 million.\n<\/p>\n
Business Outlook<\/b><\/p>\n
\nFor the second quarter of fiscal 2023, the company expects:\n<\/p>\n
- \n
- \nConsolidated sales growth of 9% to 12% compared to the prior-year period.\n<\/li>\n
- \nCPG to achieve sales growth in the high-single-digit percentage range as commercial and infrastructure construction activity is anticipated to remain positive and pricing management contributes to growth, partially offset by macroeconomic weakness in Europe.\n<\/li>\n
- \nPCG sales to increase in the high-single-digit to low-double-digit percentage range driven by strength in energy markets, reshoring of manufacturing to the U.S. and government infrastructure spending.\n<\/li>\n
- \nSPG revenue to increase in the high-single-digit percentage range as the segment benefits from continued strength in food coatings and additives and has a more efficient supply chain compared to the prior-year period when it suffered from semiconductor chip supply shortages.\n<\/li>\n
- \nThe Consumer Group to lead revenue growth with sales up in the teen percentage range as a result of improved material supply, pricing management, and a favorable comparison to the 2022 fiscal second quarter when sales were depressed by alkyd resin shortages from an explosion at a supplier\u2019s plant.\n<\/li>\n
- \nConsolidated adjusted EBIT to increase by 30% to 40% compared to the prior-year period.\n<\/li>\n<\/ul>\n
Earnings Webcast and Conference Call Information<\/b><\/p>\n
\nManagement will host a conference call to discuss these results beginning at 10:00 a.m. EDT today. The call can be accessed via webcast at www.RPMinc.com\/Investors\/Presentations-Webcasts<\/a> or by dialing 1-800-289-0720 or 1-323-701-0160 for international callers. The confirmation code is 1615107. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. The call, which will last approximately one hour, will be open to the public, but only financial analysts will be permitted to ask questions. The media and all other participants will be in a listen-only mode.\n<\/p>\n
\nFor those unable to listen to the live call, a replay will be available from approximately 1:30 p.m. EDT on October 5, 2022, until 1:30 p.m. EDT on October 12, 2022. The replay can be accessed by dialing 1-888-203-1112 or 1-719-457-0820 for international callers. The access code is 1615107. The call also will be available for replay and as a written transcript via the RPM website at www.RPMinc.com<\/a>.\n<\/p>\n
Investor Day Webcast Information<\/b><\/p>\n
\nAs previously announced, RPM will be hosting an investor day on Friday, October 7, 2022, at 8:30 a.m. EDT. The investor day will include management presentations focused on MAP 2025 details, sustainability initiatives and the company\u2019s Construction Products Group. These presentations can be accessed via webcast at www.RPMinc.com\/Investors\/Presentations-Webcasts\/<\/a> or by dialing 800-289-0720, or 323-701-0160 for international callers. The confirmation code is 2715265.\n<\/p>\n
\nFor those unable to listen to the live presentations, a replay will be available from approximately 1:30 p.m. EDT on October 7, 2022, until 1:30 p.m. EDT on October 14, 2022. The replay can be accessed by dialing 888-203-1112, or 719-457-0820 for international callers. The access code is 2715265. The webcast will be available both live and for replay via the RPM website at www.RPMinc.com<\/a>.\n<\/p>\n
About RPM<\/b><\/p>\n
\nRPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio of market-leading brands, including Rust-Oleum<\/a>, DAP<\/a>, Zinsser<\/a>, Varathane<\/a>, DayGlo<\/a>, Legend Brands<\/a>, Stonhard<\/a>, Carboline<\/a>, Tremco<\/a> and Dryvit<\/a>. From homes and workplaces, to infrastructure and precious landmarks, RPM\u2019s brands are trusted by consumers and professionals alike to help build a better world<\/a>. The company employs approximately 16,800 individuals worldwide. Visit www.RPMinc.com<\/a> to learn more.\n<\/p>\n
\n
\n CONSOLIDATED STATEMENTS OF INCOME<\/b><\/td>\n \n \n \n \n <\/tr>\n \n IN THOUSANDS, EXCEPT PER SHARE DATA<\/td>\n \n \n \n \n <\/tr>\n \n (Unaudited)<\/i><\/td>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net Sales<\/b><\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1,932,320\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1,650,420\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of Sales<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,187,849\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,037,069\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Gross Profit<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n744,471\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n613,351\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Selling, General & Administrative Expenses<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n485,205\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n418,850\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Restructuring Expense<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,354\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,010\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Interest Expense<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26,711\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n21,109\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Investment Expense (Income), Net<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,664\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(5,750\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Other Expense (Income), Net<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,416\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,339\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n225,121\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n181,471\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Provision for Income Taxes<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n55,842\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n46,676\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Net Income<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n169,279\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n134,795\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Less: Net Income Attributable to Noncontrolling Interests<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n266\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n213\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Net Income Attributable to RPM International Inc. Stockholders<\/b><\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n169,013\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n134,582\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Earnings per share of common stock attributable to<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n RPM International Inc. Stockholders:<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Basic<\/b><\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1.31\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1.04\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Diluted<\/b><\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1.31\n<\/p>\n<\/td>\n
\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1.04\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Average shares of common stock outstanding – basic<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n127,617\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n128,083\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Average shares of common stock outstanding – diluted<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n128,161\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n128,570\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n SUPPLEMENTAL SEGMENT INFORMATION<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n IN THOUSANDS<\/td>\n \n \n \n \n \n <\/tr>\n \n (Unaudited)<\/i><\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n<\/tr>\n
\n Net Sales:<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n \n CPG Segment<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n729,697\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n644,362\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n PCG Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n340,434\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n285,595\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n SPG Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n202,697\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n182,055\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Consumer Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n659,492\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n538,408\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n1,932,320\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1,650,420\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Income Before Income Taxes:<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n CPG Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income Before Income Taxes (a)<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n109,202\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n114,357\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest (Expense), Net (b)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(767\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(1,870\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT (c)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n109,969\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n116,227\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,181\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n952\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBIT<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n111,150\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n117,179\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n PCG Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income Before Income Taxes (a)<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n46,954\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n35,077\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest Income, Net (b)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n181\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n82\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT (c)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n46,773\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n34,995\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,102\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,196\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Acquisition-related costs (e)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n339\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBIT<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n47,875\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n37,530\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n SPG Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income Before Income Taxes (a)<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n27,885\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n24,556\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest Income (Expense), Net (b)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(35\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT (c)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n27,883\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n24,591\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,766\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n336\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBIT<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n29,649\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n24,927\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Consumer Segment<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income Before Income Taxes (a)<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n116,689\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n45,915\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest Income, Net (b)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n75\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT (c)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n116,663\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n45,840\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n407\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n290\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Unusual executive costs (f)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n764\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBIT<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n117,070\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n46,894\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Corporate\/Other<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n (Loss) Before Income Taxes (a)<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(75,609\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n(38,434\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest (Expense), Net (b)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(29,817\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(13,611\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT (c)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(45,792\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(24,823\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,313\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,880\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Unusual executive costs (f)<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,219\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBIT<\/td>\n \n \n \n \n \n$\n<\/p>\n<\/td>\n
\n \n(30,479\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n(19,724\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL CONSOLIDATED<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income Before Income Taxes (a)<\/b><\/td>\n \n \n \n \n $<\/b><\/p>\n<\/td>\n
\n 225,121<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n $<\/b><\/p>\n<\/td>\n
\n 181,471<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest (Expense)<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (26,711<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (21,109<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Investment (Expense) Income, Net<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (3,664<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 5,750<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT (c)<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 255,496<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 196,830<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 19,769<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 7,654<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Acquisition-related costs (e)<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 339<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Unusual executive costs (f)<\/b><\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 1,983<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted EBIT<\/b><\/td>\n \n \n \n \n $<\/b><\/p>\n<\/td>\n
\n 275,265<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n $<\/b><\/p>\n<\/td>\n
\n 206,806<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n(a)\n<\/p>\n<\/td>\n
The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles in the United States (GAAP), to EBIT and Adjusted EBIT.<\/td>\n<\/tr>\n \n \n \n(b)\n<\/p>\n<\/td>\n
Interest Income (Expense), Net includes the combination of Interest Income (Expense) and Investment Income (Expense), Net.<\/td>\n<\/tr>\n \n \n \n(c)\n<\/p>\n<\/td>\n
EBIT is defined as earnings (loss) before interest and taxes, with Adjusted EBIT provided for the purpose of adjusting for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT, or adjusted EBIT, as a performance evaluation measure because interest expense is essentially related to corporate functions, as opposed to segment operations. For that reason, we believe EBIT is also useful to investors as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and investment income or expense in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community all of whom believe, and we concur, that this measure is critical to the capital markets’ analysis of our segments’ core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. Our underwriters and bankers consistently require inclusion of this measure in offering memoranda in conjunction with any debt underwriting or bank financing. EBIT may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results.<\/td>\n<\/tr>\n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n <\/tr>\n \n \u00a0<\/td>\n<\/tr>\n \n <\/tr>\n \n \n \n(d)\n<\/p>\n<\/td>\n
Reflects restructuring and other charges, which have been incurred in relation to our Margin Acceleration Plan (“MAP to Growth”) and our Margin Achievement Plan (“MAP 2025”), together MAP initiatives, as follows:<\/p>\n “Inventory-related charges,” & “Accelerated Expense – Other,” which have been recorded in Cost of Goods Sold<\/b>;
“Headcount reductions & closures of facilities and related costs,” which have been recorded in Restructuring Expense<\/b>;
“Accelerated Expense – Other,” “Receivable (recoveries),” “ERP consolidation plan,” “Professional Fees,” “Unusual credits triggered by
executive departures,” & “Divestitures,” which have been recorded in Selling, General & Administrative Expenses<\/b>.<\/p>\n<\/td>\n<\/tr>\n\n \n \n(e)\n<\/p>\n<\/td>\n
Acquisition costs reflect amounts included in gross profit for inventory step-ups.<\/td>\n<\/tr>\n \n \n \n(f)\n<\/p>\n<\/td>\n
Reflects unusual compensation costs recorded unrelated to our MAP to Growth initiative, including stock and deferred compensation plan arrangements.<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n SUPPLEMENTAL INFORMATION<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n RECONCILIATION OF “REPORTED” TO “ADJUSTED” AMOUNTS<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n (Unaudited)<\/i><\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n \n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n 2022<\/b><\/p>\n<\/td>\n
\n \n 2021<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share <\/span>(All amounts presented after-tax):<\/span><\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n \n Reported Earnings per Diluted Share<\/b><\/td>\n \n \n \n $<\/b><\/p>\n<\/td>\n
\n 1.31<\/b><\/p>\n<\/td>\n
\n \n \n $<\/b><\/p>\n<\/td>\n
\n 1.04<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n MAP initiatives (d)<\/td>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n0.12\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n0.05\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Unusual executive costs (f)<\/td>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n0.01\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Investment returns (g)<\/td>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n0.04\n<\/p>\n<\/td>\n
\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(0.02\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjusted Earnings per Diluted Share (h)<\/b><\/td>\n \n \n \n $<\/b><\/p>\n<\/td>\n
\n 1.47<\/b><\/p>\n<\/td>\n
\n \n \n $<\/b><\/p>\n<\/td>\n
\n 1.08<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (d)<\/td>\n Reflects restructuring and other charges, which have been incurred in relation to our Margin Acceleration Plan (“MAP to Growth”) and our Margin Achievement Plan (“MAP 2025”), together MAP initiatives, as follows:<\/p>\n “Inventory-related charges,” & “Accelerated Expense – Other,” which have been recorded in Cost of Goods Sold;
“Headcount reductions & closures of facilities and related costs,” which have been recorded in Restructuring Expense<\/b>;
“Accelerated Expense – Other,” “Receivable (recoveries),” “ERP consolidation plan,” “Professional Fees,” “Unusual credits triggered by
executive departures,” & “Divestitures,” all of which have been recorded in Selling, General & Administrative Expenses<\/b>.<\/td>\n<\/tr>\n\n (f)<\/td>\n Reflects unusual compensation costs recorded unrelated to our MAP to Growth initiative, including stock and deferred compensation plan arrangements.<\/td>\n<\/tr>\n \n (g)<\/td>\n Investment returns include realized net gains and losses on sales of investments and unrealized net gains and losses on equity securities, which are adjusted due to their inherent volatility. Management does not consider these gains and losses, which cannot be predicted with any level of certainty, to be reflective of the Company’s core business operations.<\/td>\n<\/tr>\n \n (h)<\/td>\n Adjusted EPS is provided for the purpose of adjusting diluted earnings per share for items impacting earnings that are not considered by management to be indicative of ongoing operations.<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n IN THOUSANDS<\/td>\n \n \n \n \n \n <\/tr>\n \n (Unaudited)<\/i><\/td>\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n August 31, 2022<\/b><\/td>\n \n August 31, 2021<\/b><\/td>\n \n May 31, 2022<\/b><\/td>\n<\/tr>\n \n Assets<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n Current Assets<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n \n Cash and cash equivalents<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n197,574\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n213,212\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n201,672\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Trade accounts receivable<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,454,641\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,224,095\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,479,301\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Allowance for doubtful accounts<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (46,775<\/span><\/p>\n<\/td>\n
\n )<\/span><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (52,181<\/span><\/p>\n<\/td>\n
\n )<\/span><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (46,669<\/span><\/p>\n<\/td>\n
\n )<\/span><\/p>\n<\/td>\n<\/tr>\n
\n \n Net trade accounts receivable<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,407,866\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,171,914\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,432,632\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Inventories<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,339,954\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n997,255\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,212,618\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Prepaid expenses and other current assets<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n342,294\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n330,315\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n304,887\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total current assets<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,287,688\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,712,696\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,151,809\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Property, Plant and Equipment, at Cost<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,135,573\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,949,817\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,132,915\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Allowance for depreciation<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(1,036,199\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(998,993\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(1,028,932\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Property, plant and equipment, net<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,099,374\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n950,824\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,103,983\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Other Assets<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Goodwill<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,333,066\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,349,137\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,337,868\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Other intangible assets, net of amortization<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n586,204\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n626,244\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n592,261\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating lease right-of-use assets<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n296,101\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n298,878\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n307,797\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Deferred income taxes<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,450\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26,671\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n18,914\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Other<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n184,105\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n201,754\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n195,074\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total other assets<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,415,926\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,502,684\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,451,914\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total Assets<\/b><\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n6,802,988\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n6,166,204\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n6,707,706\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Liabilities and Stockholders’ Equity<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Current Liabilities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Accounts payable<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n785,984\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n647,568\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n800,369\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Current portion of long-term debt<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n303,387\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,649\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n603,454\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Accrued compensation and benefits<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n165,796\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n156,031\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n262,445\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Accrued losses<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26,160\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n25,309\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n24,508\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Other accrued liabilities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n367,920\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n333,065\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n325,632\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total current liabilities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,649,247\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,163,622\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,016,408\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Long-Term Liabilities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Long-term debt, less current maturities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,534,108\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,429,623\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,083,155\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating lease liabilities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n255,625\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n256,661\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n265,139\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Other long-term liabilities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n285,634\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n417,072\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n276,990\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Deferred income taxes<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n80,772\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n108,506\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n82,186\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total long-term liabilities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,156,139\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,211,862\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,707,470\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total liabilities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,805,386\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,375,484\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,723,878\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Stockholders’ Equity<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Preferred stock; none issued<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Common stock (outstanding 120,099; 129,743; 129,199)<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,291\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,297\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,292\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Paid-in capital<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,105,211\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,061,161\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,096,147\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Treasury stock, at cost<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(754,477\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(671,314\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(717,019\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Accumulated other comprehensive (loss)<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(612,905\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(540,508\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(537,337\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Retained earnings<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,256,939\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,937,940\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,139,346\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total RPM International Inc. stockholders’ equity<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,996,059\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,788,576\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,982,429\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Noncontrolling interest<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,543\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,144\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,399\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total equity<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,997,602\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,790,720\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,983,828\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total Liabilities and Stockholders’ Equity<\/b><\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n6,802,988\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n6,166,204\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n6,707,706\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/td>\n \n \n \n <\/tr>\n \n IN THOUSANDS<\/td>\n \n \n \n \n <\/tr>\n \n (Unaudited)<\/i><\/td>\n \n \n \n \n <\/tr>\n \n \n \n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n August 31,<\/b><\/td>\n \n August 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2022<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2021<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash Flows From Operating Activities:<\/b><\/td>\n \n \n \n <\/tr>\n \n Net income<\/b><\/td>\n \n \n \n $<\/b><\/p>\n<\/td>\n
\n 169,279<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n $<\/b><\/p>\n<\/td>\n
\n 134,795<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Depreciation and amortization<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n38,416\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n37,944\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Restructuring charges, net of payments<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(2,004\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Fair value adjustments to contingent earnout obligations<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,027\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Deferred income taxes<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(1,919\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,452\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Stock-based compensation expense<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9,062\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,763\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Net loss (gain) on marketable securities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,606\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,476\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Other<\/td>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n111\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(76\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Changes in assets and liabilities, net of effect from purchases and sales of businesses:<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n (Increase) decrease in receivables<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(266\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n98,166\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n (Increase) in inventory<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(148,188\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(68,155\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n (Increase) in prepaid expenses and other current and long-term assets<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(36,021\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(15,648\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Increase (decrease) in accounts payable<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,113\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(42,912\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n (Decrease) in accrued compensation and benefits<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(92,970\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(100,201\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Increase (decrease) in accrued losses<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,873\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,530\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Increase in other accrued liabilities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n62,459\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n37,866\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash Provided By Operating Activities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 23,555<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 76,107<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash Flows From Investing Activities:<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Capital expenditures<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(57,818\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(51,888\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Acquisition of businesses, net of cash acquired<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(36,373\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(35,802\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Purchase of marketable securities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(6,440\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(5,843\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Proceeds from sales of marketable securities<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,116\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,766\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Other<\/td>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n80\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n250\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash (Used For) Investing Activities<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (96,435<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (90,517<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n<\/tr>\n
\n Cash Flows From Financing Activities:<\/b><\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Additions to long-term and short-term debt<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n250,051\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n60,547\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Reductions of long-term and short-term debt<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(75,264\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(471\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Cash dividends<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(51,420\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(48,901\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Repurchases of common stock<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(25,000\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(12,500\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Shares of common stock returned for taxes<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(12,430\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(5,802\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Payments of acquisition-related contingent consideration<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,705\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(60\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Other<\/td>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(2,487\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
<\/tr>\n \n \n Cash Provided By (Used For) Financing Activities<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 79,745<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (7,187<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Effect of Exchange Rate Changes on Cash and <\/b><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Cash Equivalents<\/b><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (10,963<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (11,895<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Net Change in Cash and Cash Equivalents<\/b><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (4,098<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n (33,492<\/b><\/p>\n<\/td>\n
\n )<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Cash and Cash Equivalents at Beginning of Period<\/b><\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 201,672<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 246,704<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Cash and Cash Equivalents at End of Period<\/b><\/td>\n \n $<\/b><\/p>\n<\/td>\n
\n 197,574<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n $<\/b><\/p>\n<\/td>\n
\n 213,212<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20221005005233\/en\/<\/a><\/span><\/p>\n
\nMatt Schlarb,
\n
Senior Director of Investor Relations
\n
330-273-5090
\n
or
\n
mschlarb@rpminc.com<\/a><\/p>\nKEYWORDS:<\/b> Ohio United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Other Manufacturing Commercial Building & Real Estate Construction & Property Chemicals\/Plastics Home Goods Manufacturing Building Systems Retail Residential Building & Real Estate<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20221005005233\/en\/576153\/3\/RPM_281-144px.jpg\")
<\/td>\n<\/tr>\n