RPM International (RPM) 10-Q7 Oct 152016 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Aug. 31, 2015	Oct. 01, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	RPM
Entity Registrant Name	RPM INTERNATIONAL INC/DE/
Entity Central Index Key	110,621
Current Fiscal Year End Date	--05-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		133,046,015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Current Assets
Cash and cash equivalents	$ 169,458	$ 174,711
Trade accounts receivable (less allowances of $25,032 and $24,526, respectively)	926,213	956,211
Inventories	718,969	674,205
Deferred income taxes	33,203	29,892
Prepaid expenses and other current assets	277,664	264,827
Total current assets	2,125,507	2,099,846
Property, Plant and Equipment, at Cost	1,259,536	1,258,304
Allowance for depreciation	(679,178)	(668,658)
Property, plant and equipment, net	580,358	589,646
Other Assets
Goodwill	1,202,311	1,215,688
Other intangible assets, net of amortization	592,322	604,130
Deferred income taxes, non-current	6,904	5,685
Other	154,005	179,245
Total other assets	1,955,542	2,004,748
Total Assets	4,661,407	4,694,240
Current Liabilities
Accounts payable	442,606	512,165
Current portion of long-term debt	1,578	2,038
Accrued compensation and benefits	102,272	169,370
Accrued losses	20,504	22,016
Other accrued liabilities	245,856	197,647
Total current liabilities	812,816	903,236
Long-Term Liabilities
Long-term debt, less current maturities	1,730,613	1,654,037
Other long-term liabilities	737,819	752,821
Deferred income taxes	83,137	90,681
Total long-term liabilities	$ 2,551,569	$ 2,497,539
Commitments and contingencies (Note 13)
Stockholders' Equity
Preferred stock, par value $0.01; authorized 50,000 shares; none issued
Common stock, par value $0.01; authorized 300,000 shares; issued 139,579 and outstanding 133,146 as of August 2015; issued 138,828 and outstanding 133,203 as of May 2015	$ 1,331	$ 1,332
Paid-in capital	878,835	872,127
Treasury stock, at cost	(160,276)	(124,928)
Accumulated other comprehensive (loss)	(427,665)	(394,135)
Retained earnings	1,002,177	936,996
Total RPM International Inc. stockholders' equity	1,294,402	1,291,392
Noncontrolling Interest	2,620	2,073
Total equity	1,297,022	1,293,465
Total Liabilities and Stockholders' Equity	$ 4,661,407	$ 4,694,240

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Trade accounts receivable, allowances	$ 25,032	$ 24,526
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	50,000,000	50,000,000
Preferred stock, issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	139,579,000	138,828,000
Common stock, outstanding	133,146,000	133,203,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Aug. 31, 2015	Aug. 31, 2014
Net Sales		$ 1,242,526	$ 1,203,896
Cost of Sales		709,568	695,503
Gross Profit		532,958	508,393
Selling, General and Administrative Expenses		372,854	346,525
Interest Expense		22,460	19,415
Investment (Income), Net		(4,068)	(3,803)
Other (Income), Net		(489)	(1,822)
Income (Loss) Before Income Taxes	[1]	142,201	148,078
Provision for Income Taxes		41,839	43,239
Net Income		100,362	104,839
Less: Net Income Attributable to Noncontrolling Interests		547	5,760
Net Income Attributable to RPM International Inc. Stockholders		$ 99,815	$ 99,079
Average Number of Shares of Common Stock Outstanding:
Basic		130,045	130,094
Diluted		137,307	135,032
Earnings per Share of Common Stock Attributable to RPM International Inc. Stockholders:
Basic		$ 0.76	$ 0.74
Diluted	[2]	0.74	0.73
Cash Dividends Declared per Share of Common Stock		$ 0.260	$ 0.240

[1]	The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles (GAAP) in the United States, to EBIT.
[2]	For the quarters ended August 31, 2015 and 2014, approximately 2,201,000 and 3,034,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Net income	$ 100,362	$ 104,839
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(30,606)	(21,266)
Pension and other postretirement benefit liability adjustments (net of tax of $2,014 and $1,455, respectively)	4,160	2,929
Unrealized (loss) gain on securities (net of tax of $(3,228) and $114, respectively)	(7,084)	76
Unrealized gain (loss) on derivatives (net of tax of $0 and $(42), respectively)		(66)
Total other comprehensive (loss)	(33,530)	(18,327)
Total Comprehensive Income	66,832	86,512
Less: Comprehensive Income Attributable to Noncontrolling Interests	547	2,380
Comprehensive Income Attributable to RPM International Inc. Stockholders	$ 66,285	$ 84,132

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Pension and Other Postretirement Benefit Liability Adjustments, Tax	$ 2,014	$ 1,455
Unrealized gain (loss) on securities, Tax	(3,228)	114
Unrealized gain (loss) on derivatives, Tax Benefit	$ 0	$ (42)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Cash Flows From Operating Activities:
Net income	$ 100,362	$ 104,839
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation	16,775	15,048
Amortization	11,092	8,246
Deferred income taxes	(8,207)	1,984
Stock-based compensation expense	6,707	5,700
Other	2,093	(605)
Changes in assets and liabilities, net of effect from purchases and sales of businesses:
Decrease (increase) in receivables	19,112	(72,292)
(Increase) in inventory	(52,082)	(17,338)
Decrease (increase) in prepaid expenses and other current and long-term assets	186	(2,307)
(Decrease) in accounts payable	(65,285)	(115,686)
(Decrease) in accrued compensation and benefits	(65,704)	(70,880)
(Decrease) in accrued losses	(1,466)	(8,311)
Increase in other accrued liabilities	35,868	29,911
Other	7,144	(3,542)
Cash Provided By (Used For) Operating Activities	6,595	(125,233)
Cash Flows From Investing Activities:
Capital expenditures	(12,035)	(12,050)
Acquisition of businesses, net of cash acquired	(5,120)	(33,472)
Purchase of marketable securities	(4,775)	(5,034)
Proceeds from sales of marketable securities	8,843	7,512
Other	2,750	(319)
Cash (Used For) Investing Activities	(10,337)	(43,363)
Cash Flows From Financing Activities:
Additions to long-term and short-term debt	94,516	131,907
Reductions of long-term and short-term debt	(18,401)	(5,468)
Cash dividends	(34,634)	(31,987)
Shares repurchased and returned for taxes	(35,348)	(4,695)
Payments of acquisition-related contingent consideration	(1,585)	(24,750)
Other	267	244
Cash Provided By Financing Activities	4,815	65,251
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(6,326)	(4,498)
Net Change in Cash and Cash Equivalents	(5,253)	(107,843)
Cash and Cash Equivalents at Beginning of Period	174,711	332,868
Cash and Cash Equivalents at End of Period	$ 169,458	$ 225,025

Consolidation, Noncontrolling I

Consolidation, Noncontrolling Interests and Basis of Presentation	3 Months Ended
	Aug. 31, 2015
Consolidation, Noncontrolling Interests and Basis of Presentation	NOTE 1 — CONSOLIDATION, NONCONTROLLING INTERESTS AND BASIS OF PRESENTATION Our financial statements include all of our majority-owned subsidiaries, except for certain subsidiaries that were deconsolidated during the period from May 31, 2010 through December 31, 2014. We reconsolidated such subsidiaries as of January 1, 2015 (please refer to Note 2). We account for our investments in less-than-majority-owned joint ventures, for which we have the ability to exercise significant influence, under the equity method. Effects of transactions between related companies are eliminated in consolidation. Noncontrolling interests are presented in our consolidated financial statements as if parent company investors (controlling interests) and other minority investors (noncontrolling interests) in partially-owned subsidiaries have similar economic interests in a single entity. As a result, investments in noncontrolling interests are reported as equity in our consolidated financial statements. Additionally, our consolidated financial statements include 100% of a controlled subsidiary’s earnings, rather than only our share. Transactions between the parent company and noncontrolling interests are reported in equity as transactions between stockholders, provided that these transactions do not create a change in control. The accompanying unaudited consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”) for interim financial information and the instructions to Form 10-Q. In our opinion, all adjustments (consisting of normal, recurring accruals) considered necessary for a fair presentation have been included for the three month periods ended August 31, 2015 and 2014. For further information, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended May 31, 2015. Our business is dependent on external weather factors. Historically, we have experienced strong sales and net income in our first, second and fourth fiscal quarters comprising the three month periods ending August 31, November 30 and May 31, respectively, with weaker performance in our third fiscal quarter (December through February).

Specialty Products Holding Corp

Specialty Products Holding Corp. ("SPHC")	3 Months Ended
Specialty Products Holding Corp. ("SPHC")	Aug. 31, 2015
Specialty Products Holding Corp. ("SPHC")	NOTE 2—SPECIALTY PRODUCTS HOLDING CORP. (“SPHC”) Prior to May 31, 2010, Bondex International, Inc. (“Bondex”) and its parent, SPHC, were defendants in various asbestos-related bodily injury lawsuits filed in various state courts. These cases generally sought unspecified damages for asbestos-related diseases based on alleged exposures to asbestos-containing products. On May 31, 2010, Bondex and SPHC, filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) to reorganize under chapter 11 of the Bankruptcy Code. SPHC and Bondex took this action in an effort to permanently and comprehensively resolve all pending and future asbestos-related liability claims associated with Bondex and SPHC. Similarly, Republic Powdered Metals, Inc. (“Republic”) and NMBFiL, Inc. (“NMBFiL”), both of which are indirect wholly owned subsidiaries of RPM International Inc. (“RPM”), filed to reorganize under chapter 11 of the Bankruptcy Code in August 2014 to resolve all their pending and future asbestos-related liability claims. Both Republic and NMBFiL remained consolidated subsidiaries of RPM, considering the short-term nature of the bankruptcy and that RPM maintained control of them from a participating rights perspective. On December 10, 2014 a plan of reorganization was confirmed (the “Bankruptcy Plan”), and, effective as of December 23, 2014 (the “Effective Date”), Bondex, SPHC, Republic and NMBFiL emerged from bankruptcy. In accordance with the Bankruptcy Plan, trusts were established under Section 524(g) of the United States Bankruptcy Code (together, the “Trust”) and funded with first installments. Pursuant to the Bankruptcy Plan, the Trust assumed all liability and responsibility for current and future asbestos personal injury claims of Bondex, SPHC, Republic and NMBFiL, and such entities will have no further liability or responsibility for, and will (along with affiliates) be permanently protected from, such asbestos claims. The Trust was funded with $450 million in cash and a promissory note, bearing no interest and maturing on or before the fourth anniversary of the Effective Date (the “Bankruptcy Note”). The net present value of the Bankruptcy Note, or $329.7 million, is classified as other long-term liabilities in our consolidated financial statements at August 31, 2015. Borrowings under our $800.0 million revolving credit facility were used to fund the initial payment of $450 million, which is classified as long-term debt in our Consolidated Balance Sheets. A portion of the payments due under the Bankruptcy Note is secured by a right to the equity of SPHC, Republic and Bondex. The Bankruptcy Plan, and Bankruptcy Note, provide for the following additional contributions to the Trust: • On or before the second anniversary of the Effective Date, an additional $102.5 million in cash, RPM stock or a combination thereof (at our discretion in this and all subsequent cases) will be deposited into the Trust; • On or before the third anniversary of the Effective Date, an additional $120 million in cash, RPM stock or a combination thereof will be deposited into the Trust; and • On or before the fourth anniversary of the Effective Date, a final payment of $125 million in cash, RPM stock or a combination thereof will be deposited into the Trust. Total current and future contributions to the Trust are deductible for U.S. income tax purposes. Effective with the filing of the Notice of Entry of Order confirming the Bankruptcy Plan, which required the funding of the Trust, we regained control of SPHC and its subsidiaries, and accordingly, we have accounted for the event as a business combination. The funding of the Trust represents the total consideration transferred in the transaction, or $772.6 million. The opening balance sheets are based upon closing balances as of December 31, 2014 and results of operations have been included in our consolidated financial statements beginning on January 1, 2015 (the “Accounting Effective Date”) forward, as we concluded that the activity occurring between the date control was obtained (December 23, 2014) and the Accounting Effective Date was not significant. The fair values of SPHC and its subsidiaries have been determined as of January 1, 2015. Additionally, the fair value of RPM Holdco, of which SPHC owns 21.39% of the outstanding common stock, has been determined in order to account for our increase in ownership of the noncontrolling interest as an equity transaction. The total consideration has been allocated on a relative fair value basis between the noncontrolling interest in RPM Holdco, or approximately $208.4 million, and the net assets of SPHC, or approximately $564.2 million. The difference between the fair value of the noncontrolling interest in RPM Holdco and the carrying value of the noncontrolling interest was recorded as an equity transaction. The portion of the transaction accounted for as a business combination resulted in preliminary goodwill of $118.7 million and intangible assets of $176.0 million. The acquired intangible assets totaling $176.0 million comprise the following: $118.7 million of customer and distributor relationships, $2.0 million of definite-lived tradenames, $52.7 million of indefinite-lived tradenames and $2.6 million of formulas. Income tax assets of $271.7 million were recorded in connection with the deductibility of current and future contributions to the Trust. Additionally, deferred tax liabilities of $72.3 million were recorded for the excess of the fair value book basis of certain assets over the corresponding tax basis. The fair values of net tangible assets, intangible assets and the noncontrolling interest were based upon valuations, which required our significant use of estimates and assumptions. While the valuations of consideration transferred and total assets acquired and liabilities assumed are substantially complete, measurement period adjustments may be recorded in the future as we finalize certain fair value estimates. The primary areas that remain preliminary relate to the fair values of deferred income taxes.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
New Accounting Pronouncements	Aug. 31, 2015
New Accounting Pronouncements	NOTE 3 — NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which establishes a comprehensive revenue recognition standard for virtually all industries in GAAP. Under the original issuance, the new standard would have applied to annual periods beginning after December 15, 2016, including interim periods therein. However, in August 2015, the FASB issued ASU 2015-14, which extends the standard effective date by one year and includes an option to apply the standard on the original effective date. We have not yet determined the effects, if any, adoption of this pronouncement may have on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03 “Interest-Imputation of Interest,” which changes the presentation of debt issuance costs in financial statements and specifies that debt issuance costs related to a note shall be reported in the balance sheet as a direct deduction from the face amount of the note. The guidance does not change the current requirements surrounding the recognition and measurement of debt issuance costs, and the amortization of debt issuance costs will continue to be reported as interest expense. The guidance is effective for years and interim periods within those fiscal years beginning after December 15, 2015. Early adoption is allowed for all entities and the new guidance shall be applied to all prior periods retrospectively. We do not expect the adoption of this guidance to have a significant impact on our consolidated financial position and results of operations, although it will change the financial statement classification of the deferred debt cost. As of August 31, 2015, we had $3.0 million and $10.6 million of current and long-term net deferred debt costs, respectively. As of May 31, 2015, we had $3.0 million and $11.5 million of current and long-term net deferred debt costs, respectively. Current and long-term deferred debt costs are included in our Consolidated Balance Sheets and are reflected in prepaid expenses and other current assets, and other long-term assets, respectively. Under the new guidance, the net deferred debt costs would offset the carrying amount of the respective debt on the Consolidated Balance Sheets.

Marketable Securities

Marketable Securities	3 Months Ended
Marketable Securities	Aug. 31, 2015
Marketable Securities	NOTE 4 – MARKETABLE SECURITIES The following tables summarize marketable securities held at August 31, 2015 and May 31, 2015 by asset type: Available-For-Sale Securities (In thousands) Amortized Gross Gross Fair Value August 31, 2015 Equity securities: Stocks — foreign $ 4,201 $ 193 $ (415 ) $ 3,979 Stocks — domestic 31,465 2,757 (1,004 ) 33,218 Mutual funds — foreign 32,681 959 (2,702 ) 30,938 Mutual funds — domestic 56,690 9 (5,477 ) 51,222 Total equity securities 125,037 3,918 (9,598 ) 119,357 Fixed maturity: U.S. treasury and other government 21,187 111 (179 ) 21,119 Corporate bonds 1,214 139 — 1,353 Foreign bonds 36 2 — 38 Mortgage-backed securities 59 37 — 96 Total fixed maturity securities 22,496 289 (179 ) 22,606 Total $ 147,533 $ 4,207 $ (9,777 ) $ 141,963 Available-For-Sale Securities (In thousands) Amortized Gross Gross Fair Value May 31, 2015 Equity securities: Stocks — foreign $ 3,722 $ 339 $ (85 ) $ 3,976 Stocks — domestic 34,368 5,649 (559 ) 39,458 Mutual funds — foreign 32,657 2,114 (230 ) 34,541 Mutual funds — domestic 56,442 228 (2,779 ) 53,891 Total equity securities 127,189 8,330 (3,653 ) 131,866 Fixed maturity: U.S. treasury and other government 21,340 171 (162 ) 21,349 Corporate bonds 1,218 171 — 1,389 Foreign bonds 36 2 — 38 Mortgage-backed securities 81 47 — 128 Total fixed maturity securities 22,675 391 (162 ) 22,904 Total $ 149,864 $ 8,721 $ (3,815 ) $ 154,770 Marketable securities, included in other current and long-term assets totaling $77.8 million and $64.2 million at August 31, 2015, respectively, and included in other current and long-term assets totaling $69.3 million and $85.5 million at May 31, 2015, respectively, are composed of available-for-sale securities and are reported at fair value. We carry a portion of our marketable securities portfolio in long-term assets since they are generally held for the settlement of our general and product liability insurance claims processed through our wholly owned captive insurance subsidiaries. Marketable securities are composed of available-for-sale securities and are reported at fair value. Realized gains and losses on sales of investments are recognized in net income on the specific identification basis. Changes in the fair values of securities that are considered temporary are recorded as unrealized gains and losses, net of applicable taxes, in accumulated other comprehensive income (loss) within stockholders’ equity. Other-than-temporary declines in market value from original cost are reflected in operating income in the period in which the unrealized losses are deemed other than temporary. In order to determine whether other-than-temporary declines in market value have occurred, the duration of the decline in value and our ability to hold the investment are considered in conjunction with an evaluation of the strength of the underlying collateral and the extent to which the investment’s amortized cost or cost, as appropriate, exceeds its related market value. Gross gains realized on sales of investments were $2.5 million and $2.1 million for the quarters ended August 31, 2015 and 2014, respectively. During the first quarter of fiscal 2016, we recognized gross realized losses on sales of investments of $0.1 million, while we recognized no such losses during the first quarter of fiscal 2015. These amounts are included in investment (income), net in the Consolidated Statements of Income. Summarized below are the securities we held at August 31, 2015 and May 31, 2015 that were in an unrealized loss position and that were included in accumulated other comprehensive income (loss), aggregated by the length of time the investments had been in that position: August 31, 2015 May 31, 2015 (In thousands) Fair Value Gross Fair Gross Total investments with unrealized losses $ 100,639 $ (9,777 ) $ 58,978 $ (3,815 ) Unrealized losses with a loss position for less than 12 months 81,271 (7,231 ) 32,693 (1,441 ) Unrealized losses with a loss position for more than 12 months 19,368 (2,546 ) 26,285 (2,374 ) We have reviewed all of the securities included in the table above and have concluded that we have the ability and intent to hold these investments until their cost can be recovered, based upon the severity and duration of the decline. Therefore, we did not recognize any other-than-temporary impairment losses on these investments. The unrealized losses generally relate to investments whose fair values at August 31, 2015 were less than 15% below their original cost. From time to time, we may experience significant volatility in general economic and market conditions. If we were to experience unrealized losses that were to continue for longer periods of time, or arise to more significant levels of unrealized losses within our portfolio of investments in marketable securities in the future, we may recognize additional other-than-temporary impairment losses. Such potential losses could have a material impact on our results of operations in any given reporting period. As such, we continue to closely evaluate the status of our investments and our ability and intent to hold these investments. The net carrying values of debt securities at August 31, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. (In thousands) Amortized Fair Due: Less than one year $ 3,609 $ 3,609 One year through five years 15,787 15,724 Six years through ten years 1,919 1,937 After ten years 1,181 1,336 $ 22,496 $ 22,606

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Aug. 31, 2015
Fair Value Measurements	NOTE 5 — FAIR VALUE MEASUREMENTS Financial instruments recorded in the balance sheet include cash and cash equivalents, trade accounts receivable, marketable securities, notes and accounts payable, and debt. An allowance for anticipated uncollectible trade receivable amounts is established using a combination of specifically identified accounts to be reserved, and a reserve covering trends in collectibility. These estimates are based on an analysis of trends in collectibility and past experience, but are primarily made up of individual account balances identified as doubtful based on specific facts and conditions. Receivable losses are charged against the allowance when we confirm uncollectibility. All derivative instruments are recognized in our Consolidated Balance Sheets and measured at fair value. Changes in the fair values of derivative instruments that do not qualify as hedges and/or any ineffective portion of hedges are recognized as a gain or (loss) in our Consolidated Statements of Income in the current period. Changes in the fair value of derivative instruments used effectively as cash flow hedges are recognized in other comprehensive income (loss), along with the change in the value of the hedged item. We do not hold or issue derivative instruments for speculative purposes. The valuation techniques utilized for establishing the fair values of assets and liabilities are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect management’s market assumptions. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value, as follows: Level 1 Inputs Level 2 Inputs Level 3 Inputs The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. (In thousands) Quoted Prices in Significant Significant Fair Value at U.S. Treasury and other government $ — $ 21,119 $ — $ 21,119 Foreign bonds 38 38 Mortgage-backed securities 96 96 Corporate bonds 1,353 1,353 Stocks — foreign 3,979 3,979 Stocks — domestic 33,218 33,218 Mutual funds — foreign 30,938 30,938 Mutual funds — domestic 51,222 51,222 Foreign currency forward contract (5,226 ) (5,226 ) Contingent consideration (26,013 ) (26,013 ) Total $ 37,197 $ 99,540 $ (26,013 ) $ 110,724 (In thousands) Quoted Prices in Significant Significant Fair Value at U.S. Treasury and other government $ — $ 21,349 $ — $ 21,349 Foreign bonds 38 38 Mortgage-backed securities 128 128 Corporate bonds 1,389 1,389 Stocks — foreign 3,976 3,976 Stocks — domestic 39,458 39,458 Mutual funds — foreign 34,541 34,541 Mutual funds — domestic 53,891 53,891 Foreign currency forward contract (6,369 ) (6,369 ) Contingent consideration (27,598 ) (27,598 ) Total $ 43,434 $ 104,967 $ (27,598 ) $ 120,803 Our marketable securities are primarily composed of available-for-sale securities, and are valued using a market approach. The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For most of our financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. At August 31, 2015, we had a foreign currency forward contract with a fair value of approximately $5.2 million, which is classified in other accrued liabilities in our Consolidated Balance Sheets. At May 31, 2015, we had a foreign currency forward contract with a fair value of approximately $6.4 million, which is classified in other accrued liabilities in our Consolidated Balance Sheets. Our foreign currency forward contract, which has not been designated as a hedge, was designed to reduce our exposure to the changes in the cash flows of intercompany foreign-currency-denominated loans related to changes in foreign currency exchange rates by fixing the functional currency cash flows. The foreign exchange rates included in the forward contract are based upon observable market data, but are not quoted market prices, and therefore, the forward currency forward contract is considered a Level 2 liability on the fair value hierarchy. The contingent consideration represents the estimated fair value of the additional variable cash consideration payable in connection with recent acquisitions that is contingent upon the achievement of certain performance milestones. We estimated the fair value using expected future cash flows over the period in which the obligation is expected to be settled, and applied a discount rate that appropriately captures a market participant’s view of the risk associated with the obligation, which are considered to be Level 3 inputs. During the first quarter of fiscal 2016, we paid approximately $1.6 million for settlements of contingent consideration obligations relating to certain performance milestones that were established in prior periods and achieved during the current period. These amounts are reported in payments of acquisition-related contingent consideration in the Consolidated Statements of Cash Flows. The carrying value of our current financial instruments, which include cash and cash equivalents, marketable securities, trade accounts receivable, accounts payable and short-term debt approximates fair value because of the short-term maturity of these financial instruments. At August 31, 2015 and May 31, 2015, the fair value of our long-term debt was estimated using active market quotes, based on our current incremental borrowing rates for similar types of borrowing arrangements, which are considered to be Level 2 inputs. Based on the analysis performed, the fair value and the carrying value of our financial instruments and long-term debt as of August 31, 2015 and May 31, 2015 are as follows: At August 31, 2015 (In thousands) Carrying Value Fair Value Cash and cash equivalents $ 169,458 $ 169,458 Marketable equity securities 119,357 119,357 Marketable debt securities 22,606 22,606 Long-term debt, including current portion 1,732,191 1,827,275 At May 31, 2015 (In thousands) Carrying Value Fair Value Cash and cash equivalents $ 174,711 $ 174,711 Marketable equity securities 131,866 131,866 Marketable debt securities 22,904 22,904 Long-term debt, including current portion 1,656,075 1,783,962

Investment (Income), Net

Investment (Income), Net	3 Months Ended
Investment (Income), Net	Aug. 31, 2015
Investment (Income), Net	NOTE 6 — INVESTMENT (INCOME), NET Investment (income), net, consists of the following components: Three Months Ended (In thousands) 2015 2014 Interest (income) $ (1,364 ) $ (1,404 ) (Gain) on sale of marketable securities (2,376 ) (2,116 ) Dividend (income) (328 ) (283 ) Investment (income), net $ (4,068 ) $ (3,803 )

Other (Income), Net

Other (Income), Net	3 Months Ended
Other (Income), Net	Aug. 31, 2015
Other (Income), Net	NOTE 7 — OTHER (INCOME), NET Other (income), net, consists of the following components: Three Months Ended (In thousands) 2015 2014 (In thousands) Royalty (income) expense, net $ (10 ) $ (1,217 ) (Income) related to unconsolidated equity affiliates (479 ) (605 ) Other (income), net $ (489 ) $ (1,822 )

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Aug. 31, 2015
Income Taxes	NOTE 8 — INCOME TAXES The effective income tax rate was 29.4% for the three months ended August 31, 2015 compared to an effective income tax rate of 29.2% for the three months ended August 31, 2014. The effective tax rate for the three month periods ended August 31, 2015 and 2014 reflect variances from the 35% federal statutory rate primarily due to lower effective tax rate of certain of our foreign subsidiaries, the benefit of the domestic manufacturing deduction and the unfavorable impact of state and local taxes. At May 31, 2015, we determined that it was possible that we would repatriate approximately $419.1 million of undistributed foreign earnings in the foreseeable future. Accordingly, as of May 31, 2015, we recorded a deferred income tax liability of $108.5 million, which represented our estimate of the U.S income and foreign withholding tax associated with the $419.1 million of unremitted foreign earnings. Based on August 31, 2015 exchange rates, the amount of undistributed earnings that may be repatriated has been revalued to $400.8 million and the corresponding deferred tax liability has been reduced to $101.6 million. The reduction in the deferred tax liability is primarily due to the impact of foreign exchange, which is reflected in accumulated other comprehensive income (loss). We have not provided for U.S. income and foreign withholding taxes on the remaining foreign subsidiaries’ undistributed earnings because such earnings have been retained and reinvested by the subsidiaries as of August 31, 2015. Accordingly, no provision has been made for U.S. income taxes or foreign withholding taxes, which may become payable if the remaining undistributed earnings of foreign subsidiaries were distributed to the U.S.

Inventories

Inventories	3 Months Ended
Inventories	Aug. 31, 2015
Inventories	NOTE 9 — INVENTORIES Inventories, net of reserves, were composed of the following major classes: (In thousands) August 31, May 31, Raw material and supplies $ 249,080 $ 235,649 Finished goods 469,889 438,556 Total Inventory, Net of Reserves $ 718,969 $ 674,205

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
Stock Repurchase Program	Aug. 31, 2015
Stock Repurchase Program	NOTE 10 — STOCK REPURCHASE PROGRAM On January 8, 2008, we announced our authorization of a stock repurchase program under which we may repurchase shares of RPM International Inc. common stock at management’s discretion for general corporate purposes. Our current intent is to limit our repurchases only to amounts required to offset dilution created by stock issued in connection with our equity-based compensation plans, or approximately one to two million shares per year. As a result of this authorization, we may repurchase shares from time to time in the open market or in private transactions at various times and in amounts and for prices that our management deems appropriate, subject to insider trading rules and other securities law restrictions. The timing of our purchases will depend upon prevailing market conditions, alternative uses of capital and other factors. We may limit or terminate the repurchase program at any time. During the three months ended August 31, 2015, we repurchased approximately 300,000 shares of our common stock under this program, for approximately $12.8 million.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Aug. 31, 2015
Earnings Per Share	NOTE 11 — EARNINGS PER SHARE The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share, as calculated using the two-class method for the first quarter ended August 31, 2014. For the quarter ended August 31, 2015, the two-class method was used to compute basic earnings per share, while the treasury stock method was utilized for the purpose of computing diluted earnings per share, as that method resulted in the most-dilutive earnings per share. Three Months Ended (In thousands, except per share amounts) 2015 2014 Numerator for earnings per share: Net income attributable to RPM International Inc. stockholders $ 99,815 $ 99,079 Less: Allocation of earnings and dividends to participating securities (1,577 ) (2,179 ) Net income available to common shareholders — basic 98,238 96,900 Add: Undistributed earnings reallocated to unvested shareholders 12 Reverse allocation of earnings and dividends to participating securities 1,577 Add: Income effect of contingently issuable shares 1,356 1,339 Net income available to common shareholders — diluted $ 101,171 $ 98,251 Denominator for basic and diluted earnings per share: Basic weighted average common shares 130,045 130,094 Average diluted options 2,360 1,065 Net issuable common share equivalents 1,023 Additional shares issuable assuming conversion of convertible securities (2) 3,879 3,873 Total shares for diluted earnings per share 137,307 135,032 Earnings Per Share of Common Stock Attributable to RPM International Inc. Stockholders: Basic $ 0.76 $ 0.74 Diluted (1) $ 0.74 $ 0.73 (1) For the quarters ended August 31, 2015 and 2014, approximately 2,201,000 and 3,034,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive. (2) Represents the number of shares that would be issued if our contingently convertible notes were converted. We include these shares in the calculation of diluted EPS as the conversion of the notes may be settled, at our election, in cash, shares of our common stock, or a combination of cash and shares of our common stock.

Pension Plans

Pension Plans	3 Months Ended
Pension Plans	Aug. 31, 2015
Pension Plans	NOTE 12 — PENSION PLANS We offer defined benefit pension plans, defined contribution pension plans, as well as several unfunded health care benefit plans primarily for certain of our retired employees. Historically, we estimated the service and interest cost components of net periodic pension and postretirement benefit cost by applying a single weighted-average discount rate, derived from the yield curve used to measure the benefit obligation at the beginning of the period. During the current fiscal quarter, we elected to change our approach in estimating service and interest cost by applying the split discount rate approach. Under the split discount rate approach, we estimate service and interest cost by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. We made this change in order to more precisely measure our service and interest costs, and the split discount rate approach achieves this by improving the correlation between projected benefit cash flows and the corresponding spot yield curve rates. This change will not affect the measurement of our total benefit obligation at our annual measurement date, as the change in service and interest cost is completely offset by deferred actuarial (gains)/losses that will arise at the next annual measurement date. As this change is treated as a change in estimate, the impact is reflected in the current period and prospectively, and historical measurements of service and interest cost are not affected. This change in estimate is anticipated to reduce our current year annual net periodic benefit expense by approximately $5.4 million for our U.S. Plans and by approximately $1.0 million for our non-U.S. plans. Accordingly, for the quarter ended August 31, 2015, total service cost and interest cost for all plans was $9.6 million and $6.1 million, respectively, a reduction of $0.2 million and $1.4 million, respectively, as a result of implementing the new approach. This resulted in an increase in income from continuing operations and net income of approximately $1.6 million and $1.1 million, respectively, and an increase in both basic and diluted earnings per share of $0.01. The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the three month periods ended August 31, 2015 and 2014: U.S. Plans Non-U.S. Plans Three Months Ended Three Months Ended Pension Benefits 2015 2014 2015 2014 (In thousands) Service cost $ 8,202 $ 7,564 $ 1,067 $ 1,231 Interest cost 4,499 5,002 1,323 1,891 Expected return on plan assets (6,437 ) (6,034 ) (1,983 ) (2,296 ) Amortization of: Prior service cost 58 74 10 Net actuarial losses recognized 4,190 3,472 457 487 Net Periodic Benefit Cost $ 10,512 $ 10,078 $ 864 $ 1,323 U.S. Plans Non-U.S. Plans Three Months Ended Three Months Ended Postretirement Benefits 2015 2014 2015 2014 (In thousands) Service cost $ — $ — $ 281 $ 313 Interest cost 59 66 221 308 Amortization of: Prior service (credit) (62 ) (62 ) Net actuarial (gains) losses recognized — (34 ) 61 104 Net Periodic Benefit Cost $ (3 ) $ (30 ) $ 563 $ 725 Note that the information reflected above for the U.S. plans includes the Day-Glo plan as of its reconsolidation date of January 1, 2015. We previously disclosed in our financial statements for the fiscal year ended May 31, 2015 that we expected to contribute approximately $31.9 million to our retirement plans in the U.S. and approximately $5.7 million to plans outside the U.S. during the current fiscal year. As of August 31, 2015, this has not changed.

Contingencies and Other Accrued

Contingencies and Other Accrued Losses	3 Months Ended
Contingencies and Other Accrued Losses	Aug. 31, 2015
Contingencies and Other Accrued Losses	NOTE 13 — CONTINGENCIES AND OTHER ACCRUED LOSSES We provide, through our wholly owned insurance subsidiaries, certain insurance coverage, primarily product liability coverage, to our other subsidiaries. Excess coverage is provided by third-party insurers. Our product liability accruals provide for these potential losses as well as other uninsured claims. Product liability accruals are established based upon actuarial calculations of potential liability using industry experience, actual historical experience and actuarial assumptions developed for similar types of product liability claims, including development factors and lag times. To the extent there is a reasonable possibility that potential losses could exceed the amounts already accrued, we believe that the amount of any such additional loss would be immaterial to our results of operations, liquidity and consolidated financial position. We also offer warranties on many of our products, as well as long-term warranty programs at certain of our businesses, and have established product warranty liabilities. We review these liabilities for adequacy on a quarterly basis and adjust them as necessary. The primary factors that could affect these liabilities may include changes in performance rates as well as costs of replacement. Provision for estimated warranty costs is recorded at the time of sale and periodically adjusted, as required, to reflect actual experience. It is probable that we will incur future losses related to warranty claims we have received but that have not been fully investigated and related to claims not yet received. While our warranty liabilities represent our best estimates at August 31, 2015, we can provide no assurances that we will not experience material claims in the future or that we will not incur significant costs to resolve such claims beyond the amounts accrued or beyond what we may recover from our suppliers. Product warranty expense is recorded within selling, general and administrative expense. Also, due to the nature of our businesses, the amount of claims paid can fluctuate from one period to the next. While our warranty liabilities represent our best estimates of our expected losses at any given time, from time-to-time we may revise our estimates based on our experience relating to factors such as weather conditions, specific circumstances surrounding product installations and other factors. The following table includes the changes in our accrued warranty balances: Quarter Ended (In thousands) 2015 2014 Beginning Balance $ 11,663 $ 14,741 Deductions (1) (4,660 ) (14,675 ) Provision charged to SG&A expense 3,109 7,355 Ending Balance $ 10,112 $ 7,421 (1) Primarily claims paid during the year. In addition, like other companies participating in similar lines of business, some of our subsidiaries are involved in several proceedings relating to environmental matters. It is our policy to accrue remediation costs when it is probable that such efforts will be required and the related costs can be reasonably estimated. These liabilities are undiscounted and are not material to our financial statements during any of the periods presented. We were notified by the SEC on June 24, 2014, that we are the subject of a formal investigation pertaining to the timing of our disclosure and accrual of loss reserves in fiscal 2013 with respect to the previously disclosed U.S. Department Of Justice (the “DOJ”) and the U.S. General Services Administration (the “GSA”) Office of Inspector General investigation into compliance issues relating to Tremco Roofing Division’s GSA contracts. We are cooperating with the SEC in its ongoing investigation and continue to be engaged in discussions with the staff of the Division of Enforcement concerning potential issues arising out of the SEC’s investigation. As previously disclosed, our audit committee completed an investigation into the facts and circumstances surrounding the timing of our disclosure and accrual of loss reserves with respect to the GSA and DOJ investigations, and determined that it was appropriate to restate our financial results for the first, second and third quarters of fiscal 2013. These restatements had no impact on our audited financial statements for the fiscal years ended May 31, 2013 or 2014. The audit committee’s investigation concluded that there was no intentional misconduct on the part of any of our officers. At this time, we are unable to predict the outcome of this matter or provide quantification of how the final resolution of this matter may impact our future consolidated financial condition, results of operations or cash flows. Any action by the SEC could result in sanctions against us and/or certain of our officers. A protracted investigation could impose substantial additional costs and distractions, regardless of its outcome. As previously reported, in January 2013, we entered into a Voluntary Self-Disclosure Agreement (“VSDA”) with the State of Delaware relating to certain property that may be held by us, including securities, payments, and refunds to employees, vendors and customers, that has been unclaimed for a specified period of time. Delaware’s Abandoned Property Law, like other state and federal escheat laws, generally requires companies to report and remit unclaimed property to the state. In September 2015, we completed our review of previously unreported abandoned property and paid all amounts due to the State of Delaware. The impact of this matter was not material to our consolidated financial condition, results of operations or cash flows. A consolidated class-action complaint is pending against Rust-Oleum seeking to have a class certified and alleging breach of warranty, breach of contract and other claims regarding certain deck coating products of Rust-Oleum. Rust-Oleum plans to vigorously defend this action, including any attempts at class certification. At this time, we are unable to predict the outcome of this matter or provide any quantification of how the final resolution of this matter may impact our future consolidated financial condition, results of operations or cash flows.

Equity

Equity	3 Months Ended
Equity	Aug. 31, 2015
Equity	NOTE 14 — EQUITY The following tables illustrate the components of total equity and comprehensive income for the three months ended August 31, 2015 and 2014: (In thousands) Total RPM Noncontrolling Total Equity Total equity at May 31, 2015 $ 1,291,392 $ 2,073 $ 1,293,465 Net income 99,815 547 100,362 Other Comprehensive Income: Foreign currency translation adjustments (30,606 ) (30,606 ) Pension and other postretirement benefit liability adjustments, net of tax 4,160 4,160 Unrealized (loss) on securities, net of tax (7,084 ) (7,084 ) Total Other Comprehensive Income, net of tax (33,530 ) — (33,530 ) Comprehensive Income 66,285 547 66,832 Dividends paid (34,634 ) (34,634 ) Shares repurchased and returned for taxes (35,348 ) (35,348 ) Stock based compensation expense 6,707 6,707 Total Equity at August 31, 2015 $ 1,294,402 $ 2,620 $ 1,297,022 (In thousands) Total RPM Noncontrolling Total Equity Total equity at May 31, 2014 $ 1,382,844 $ 195,750 $ 1,578,594 Net income 99,079 5,760 104,839 Other Comprehensive Income: Foreign currency translation adjustments (17,738 ) (3,528 ) (21,266 ) Pension and other postretirement benefit liability adjustments, net of tax 2,760 169 2,929 Unrealized (loss) gain on securities, net of tax 83 (7 ) 76 Unrealized gain on derivatives, net of tax (52 ) (14 ) (66 ) Total Other Comprehensive Income, net of tax (14,947 ) (3,380 ) (18,327 ) Comprehensive Income 84,132 2,380 86,512 Dividends paid (31,987 ) (31,987 ) Other noncontrolling interest activity (4 ) 4 — Stock option exercises, net of shares returned for taxes (4,451 ) (4,451 ) Stock based compensation expense 5,700 5,700 Total Equity at August 31, 2014 $ 1,436,234 $ 198,134 $ 1,634,368

Segment Information

Segment Information	3 Months Ended
Segment Information	Aug. 31, 2015
Segment Information	NOTE 15 — SEGMENT INFORMATION As disclosed in our Annual Report on Form 10-K for the year ended May 31, 2015, during July 2015, our Board of Directors approved the realignment of certain businesses and management structure to recognize how we allocate resources and analyze the operating performance of our operating segments. This realignment did not change our reportable segments at May 31, 2015. During August 2015, we made the determination to combine our former RPM2-Industrial operating segment and our former SPHC operating segment into a single operating segment, called the “Specialty Products Group,” which is discussed in further detail below. Information for all periods presented has been recast to reflect this change. We operate a portfolio of businesses and product lines that manufacture and sell a variety of specialty paints, protective coatings and roofing systems, sealants and adhesives. We manage our portfolio by organizing our businesses and product lines into three reportable segments: the industrial reportable segment, the specialty reportable segment and the consumer reportable segment. Within each reportable segment, we aggregate operating segments or product lines that consist of individual companies or groups of companies and product lines, which generally address common markets, share similar economic characteristics, utilize similar technologies and can share manufacturing or distribution capabilities. Our seven operating segments represent components of our business for which separate financial information is available that is utilized on a regular basis by our chief operating decision maker in determining how to allocate the assets of the company and evaluate performance. These seven operating segments are each managed by an operating segment manager, who is responsible for the day-to-day operating decisions and performance evaluation of the operating segment’s underlying businesses. We evaluate the profit performance of our segments primarily based on income before income taxes, but also look to earnings (loss) before interest and taxes (“EBIT”) as a performance evaluation measure because interest expense is essentially related to acquisitions, as opposed to segment operations. Our industrial reportable segment products are sold throughout North America and also account for the majority of our international sales. Our industrial product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The industrial reportable segment comprises three separate operating segments — Tremco Group, tremco illbruck Group and Performance Coatings Group. Products and services within this reportable segment include construction chemicals; roofing systems; weatherproofing and other sealants; and polymer flooring. Our specialty reportable segment products are sold throughout North America and a few international locations, primarily in Europe. Our specialty product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The specialty reportable segment is a single operating segment, which offers products that include industrial cleaners; restoration services equipment; colorants; exterior finishes; edible coatings and specialty glazes for pharmaceutical and food industries; and other specialty OEM coatings. As discussed in Note 2, this segment includes the SPHC businesses, which were reconsolidated as of January 1, 2015. Our consumer reportable segment manufactures and markets professional use and do-it-yourself (“DIY”) products for a variety of mainly consumer applications, including home improvement and personal leisure activities. Our consumer segment’s major manufacturing and distribution operations are located primarily in North America, along with a few locations in Europe and other parts of the world. Our consumer reportable segment products are primarily sold directly to mass merchandisers, home improvement centers, hardware stores, paint stores, craft shops, cosmetic companies and through distributors. This reportable segment comprises three operating segments — Rust-Oleum Group, DAP Group and RPM2-Consumer Group. Products within this reportable segment include specialty, hobby and professional paints; nail care enamels; caulks; adhesives; silicone sealants and wood stains. In addition to our three reportable segments, there is a category of certain business activities and expenses, referred to as corporate/other, that does not constitute an operating segment. This category includes our corporate headquarters and related administrative expenses, results of our captive insurance companies, gains or losses on the sales of certain assets and other expenses not directly associated with any reportable segment. Assets related to the corporate/other category consist primarily of investments, prepaid expenses and headquarters’ property and equipment. These corporate and other assets and expenses reconcile reportable segment data to total consolidated income before income taxes, interest expense and earnings before interest and taxes; as well as identifiable assets, capital expenditures and depreciation and amortization. We reflect income from our joint ventures on the equity method, and receive royalties from our licensees. The following tables reflect the results of our reportable segments consistent with our management philosophy, and represent the information we utilize, in conjunction with various strategic, operational and other financial performance criteria, in evaluating the performance of our portfolio of businesses. Information for all periods presented has been recast to reflect the current quarter change in reportable segments. Three Months Ended August 31, August 31, (In thousands) Net Sales Industrial Segment $ 663,329 $ 694,284 Specialty Segment 183,640 79,602 Consumer Segment 395,557 430,010 Consolidated $ 1,242,526 $ 1,203,896 Income (Loss) Before Income Taxes (a) Industrial Segment Income Before Income Taxes (a) $ 82,751 $ 85,423 Interest (Expense), Net (b) (1,499 ) (2,671 ) EBIT (c) $ 84,250 $ 88,094 Specialty Segment Income Before Income Taxes (a) $ 28,206 $ 17,041 Interest (Expense), Net (b) 196 38 EBIT (c) $ 28,010 $ 17,003 Consumer Segment Income Before Income Taxes (a) $ 66,123 $ 76,669 Interest (Expense), Net (b) 58 (8 ) EBIT (c) $ 66,065 $ 76,677 Corporate/Other (Expense) Before Income Taxes (a) $ (34,879 ) $ (31,055 ) Interest (Expense), Net (b) (17,147 ) (12,971 ) EBIT (c) $ (17,732 ) $ (18,084 ) Consolidated Income (Loss) Before Income Taxes (a) $ 142,201 $ 148,078 Interest (Expense), Net (b) (18,392 ) (15,612 ) EBIT (c) $ 160,593 $ 163,690 August 31, May 31, Identifiable Assets Industrial Segment $ 2,033,370 $ 2,105,364 Specialty Segment 798,347 798,893 Consumer Segment 1,661,726 1,626,097 Corporate/Other 167,964 163,886 Consolidated $ 4,661,407 $ 4,694,240 (a) The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles (GAAP) in the United States, to EBIT. (b) Interest (expense), net includes the combination of interest (expense) and investment income/(expense), net. (c) EBIT is defined as earnings (loss) before interest and taxes. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT as a performance evaluation measure because interest expense is essentially related to acquisitions, as opposed to segment operations. We believe EBIT is useful to investors for this purpose as well, using EBIT as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and taxes in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness and ongoing tax obligations. 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 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.

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
Marketable Securities (Tables)	Aug. 31, 2015
Summary of Marketable Securities by Asset Type	The following tables summarize marketable securities held at August 31, 2015 and May 31, 2015 by asset type: Available-For-Sale Securities (In thousands) Amortized Gross Gross Fair Value August 31, 2015 Equity securities: Stocks — foreign $ 4,201 $ 193 $ (415 ) $ 3,979 Stocks — domestic 31,465 2,757 (1,004 ) 33,218 Mutual funds — foreign 32,681 959 (2,702 ) 30,938 Mutual funds — domestic 56,690 9 (5,477 ) 51,222 Total equity securities 125,037 3,918 (9,598 ) 119,357 Fixed maturity: U.S. treasury and other government 21,187 111 (179 ) 21,119 Corporate bonds 1,214 139 — 1,353 Foreign bonds 36 2 — 38 Mortgage-backed securities 59 37 — 96 Total fixed maturity securities 22,496 289 (179 ) 22,606 Total $ 147,533 $ 4,207 $ (9,777 ) $ 141,963 Available-For-Sale Securities (In thousands) Amortized Gross Gross Fair Value May 31, 2015 Equity securities: Stocks — foreign $ 3,722 $ 339 $ (85 ) $ 3,976 Stocks — domestic 34,368 5,649 (559 ) 39,458 Mutual funds — foreign 32,657 2,114 (230 ) 34,541 Mutual funds — domestic 56,442 228 (2,779 ) 53,891 Total equity securities 127,189 8,330 (3,653 ) 131,866 Fixed maturity: U.S. treasury and other government 21,340 171 (162 ) 21,349 Corporate bonds 1,218 171 — 1,389 Foreign bonds 36 2 — 38 Mortgage-backed securities 81 47 — 128 Total fixed maturity securities 22,675 391 (162 ) 22,904 Total $ 149,864 $ 8,721 $ (3,815 ) $ 154,770
Summary of Securities in Unrealized Loss Position and Included in Accumulated Other Comprehensive Income (Loss), Aggregated by Length of Time Investments	Summarized below are the securities we held at August 31, 2015 and May 31, 2015 that were in an unrealized loss position and that were included in accumulated other comprehensive income (loss), aggregated by the length of time the investments had been in that position: August 31, 2015 May 31, 2015 (In thousands) Fair Value Gross Fair Gross Total investments with unrealized losses $ 100,639 $ (9,777 ) $ 58,978 $ (3,815 ) Unrealized losses with a loss position for less than 12 months 81,271 (7,231 ) 32,693 (1,441 ) Unrealized losses with a loss position for more than 12 months 19,368 (2,546 ) 26,285 (2,374 )
Net Carrying Values of Debt Securities by Contractual Maturity	The net carrying values of debt securities at August 31, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. (In thousands) Amortized Fair Due: Less than one year $ 3,609 $ 3,609 One year through five years 15,787 15,724 Six years through ten years 1,919 1,937 After ten years 1,181 1,336 $ 22,496 $ 22,606

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Aug. 31, 2015
Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy	The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. (In thousands) Quoted Prices in Significant Significant Fair Value at U.S. Treasury and other government $ — $ 21,119 $ — $ 21,119 Foreign bonds 38 38 Mortgage-backed securities 96 96 Corporate bonds 1,353 1,353 Stocks — foreign 3,979 3,979 Stocks — domestic 33,218 33,218 Mutual funds — foreign 30,938 30,938 Mutual funds — domestic 51,222 51,222 Foreign currency forward contract (5,226 ) (5,226 ) Contingent consideration (26,013 ) (26,013 ) Total $ 37,197 $ 99,540 $ (26,013 ) $ 110,724 (In thousands) Quoted Prices in Significant Significant Fair Value at U.S. Treasury and other government $ — $ 21,349 $ — $ 21,349 Foreign bonds 38 38 Mortgage-backed securities 128 128 Corporate bonds 1,389 1,389 Stocks — foreign 3,976 3,976 Stocks — domestic 39,458 39,458 Mutual funds — foreign 34,541 34,541 Mutual funds — domestic 53,891 53,891 Foreign currency forward contract (6,369 ) (6,369 ) Contingent consideration (27,598 ) (27,598 ) Total $ 43,434 $ 104,967 $ (27,598 ) $ 120,803
Fair Value and Carrying Value of Financial Instruments and Long-Term Debt	Based on the analysis performed, the fair value and the carrying value of our financial instruments and long-term debt as of August 31, 2015 and May 31, 2015 are as follows: At August 31, 2015 (In thousands) Carrying Value Fair Value Cash and cash equivalents $ 169,458 $ 169,458 Marketable equity securities 119,357 119,357 Marketable debt securities 22,606 22,606 Long-term debt, including current portion 1,732,191 1,827,275 At May 31, 2015 (In thousands) Carrying Value Fair Value Cash and cash equivalents $ 174,711 $ 174,711 Marketable equity securities 131,866 131,866 Marketable debt securities 22,904 22,904 Long-term debt, including current portion 1,656,075 1,783,962

Investment (Income), Net (Table

Investment (Income), Net (Tables)	3 Months Ended
Investment (Income), Net (Tables)	Aug. 31, 2015
Investment (Income), Net	Investment (income), net, consists of the following components: Three Months Ended (In thousands) 2015 2014 Interest (income) $ (1,364 ) $ (1,404 ) (Gain) on sale of marketable securities (2,376 ) (2,116 ) Dividend (income) (328 ) (283 ) Investment (income), net $ (4,068 ) $ (3,803 )

Other (Income), Net (Tables)

Other (Income), Net (Tables)	3 Months Ended
Other (Income), Net (Tables)	Aug. 31, 2015
Other (Income), Net	Other (income), net, consists of the following components: Three Months Ended (In thousands) 2015 2014 (In thousands) Royalty (income) expense, net $ (10 ) $ (1,217 ) (Income) related to unconsolidated equity affiliates (479 ) (605 ) Other (income), net $ (489 ) $ (1,822 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Aug. 31, 2015
Major Classes of Inventories, Net of Reserves	Inventories, net of reserves, were composed of the following major classes: (In thousands) August 31, May 31, Raw material and supplies $ 249,080 $ 235,649 Finished goods 469,889 438,556 Total Inventory, Net of Reserves $ 718,969 $ 674,205

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Aug. 31, 2015
Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share Calculated using Two-Class Method	The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share, as calculated using the two-class method for the first quarter ended August 31, 2014. For the quarter ended August 31, 2015, the two-class method was used to compute basic earnings per share, while the treasury stock method was utilized for the purpose of computing diluted earnings per share, as that method resulted in the most-dilutive earnings per share. Three Months Ended (In thousands, except per share amounts) 2015 2014 Numerator for earnings per share: Net income attributable to RPM International Inc. stockholders $ 99,815 $ 99,079 Less: Allocation of earnings and dividends to participating securities (1,577 ) (2,179 ) Net income available to common shareholders — basic 98,238 96,900 Add: Undistributed earnings reallocated to unvested shareholders 12 Reverse allocation of earnings and dividends to participating securities 1,577 Add: Income effect of contingently issuable shares 1,356 1,339 Net income available to common shareholders — diluted $ 101,171 $ 98,251 Denominator for basic and diluted earnings per share: Basic weighted average common shares 130,045 130,094 Average diluted options 2,360 1,065 Net issuable common share equivalents 1,023 Additional shares issuable assuming conversion of convertible securities (2) 3,879 3,873 Total shares for diluted earnings per share 137,307 135,032 Earnings Per Share of Common Stock Attributable to RPM International Inc. Stockholders: Basic $ 0.76 $ 0.74 Diluted (1) $ 0.74 $ 0.73 (1) For the quarters ended August 31, 2015 and 2014, approximately 2,201,000 and 3,034,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive. (2) Represents the number of shares that would be issued if our contingently convertible notes were converted. We include these shares in the calculation of diluted EPS as the conversion of the notes may be settled, at our election, in cash, shares of our common stock, or a combination of cash and shares of our common stock.

Pension Plans (Tables)

Pension Plans (Tables)	3 Months Ended
Pension Plans (Tables)	Aug. 31, 2015
Retirement-Related Benefit Plans' Impact on Income Before Income Taxes	The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the three month periods ended August 31, 2015 and 2014: U.S. Plans Non-U.S. Plans Three Months Ended Three Months Ended Pension Benefits 2015 2014 2015 2014 (In thousands) Service cost $ 8,202 $ 7,564 $ 1,067 $ 1,231 Interest cost 4,499 5,002 1,323 1,891 Expected return on plan assets (6,437 ) (6,034 ) (1,983 ) (2,296 ) Amortization of: Prior service cost 58 74 10 Net actuarial losses recognized 4,190 3,472 457 487 Net Periodic Benefit Cost $ 10,512 $ 10,078 $ 864 $ 1,323 U.S. Plans Non-U.S. Plans Three Months Ended Three Months Ended Postretirement Benefits 2015 2014 2015 2014 (In thousands) Service cost $ — $ — $ 281 $ 313 Interest cost 59 66 221 308 Amortization of: Prior service (credit) (62 ) (62 ) Net actuarial (gains) losses recognized — (34 ) 61 104 Net Periodic Benefit Cost $ (3 ) $ (30 ) $ 563 $ 725

Contingencies and Other Accru30

Contingencies and Other Accrued Losses (Tables)	3 Months Ended
Contingencies and Other Accrued Losses (Tables)	Aug. 31, 2015
Changes in Accrued Warranty Balances	The following table includes the changes in our accrued warranty balances: Quarter Ended (In thousands) 2015 2014 Beginning Balance $ 11,663 $ 14,741 Deductions (1) (4,660 ) (14,675 ) Provision charged to SG&A expense 3,109 7,355 Ending Balance $ 10,112 $ 7,421 (1) Primarily claims paid during the year.

Equity (Tables)

Equity (Tables)	3 Months Ended
Equity (Tables)	Aug. 31, 2015
Components of Total Equity and Comprehensive Income	The following tables illustrate the components of total equity and comprehensive income for the three months ended August 31, 2015 and 2014: (In thousands) Total RPM Noncontrolling Total Equity Total equity at May 31, 2015 $ 1,291,392 $ 2,073 $ 1,293,465 Net income 99,815 547 100,362 Other Comprehensive Income: Foreign currency translation adjustments (30,606 ) (30,606 ) Pension and other postretirement benefit liability adjustments, net of tax 4,160 4,160 Unrealized (loss) on securities, net of tax (7,084 ) (7,084 ) Total Other Comprehensive Income, net of tax (33,530 ) — (33,530 ) Comprehensive Income 66,285 547 66,832 Dividends paid (34,634 ) (34,634 ) Shares repurchased and returned for taxes (35,348 ) (35,348 ) Stock based compensation expense 6,707 6,707 Total Equity at August 31, 2015 $ 1,294,402 $ 2,620 $ 1,297,022 (In thousands) Total RPM Noncontrolling Total Equity Total equity at May 31, 2014 $ 1,382,844 $ 195,750 $ 1,578,594 Net income 99,079 5,760 104,839 Other Comprehensive Income: Foreign currency translation adjustments (17,738 ) (3,528 ) (21,266 ) Pension and other postretirement benefit liability adjustments, net of tax 2,760 169 2,929 Unrealized (loss) gain on securities, net of tax 83 (7 ) 76 Unrealized gain on derivatives, net of tax (52 ) (14 ) (66 ) Total Other Comprehensive Income, net of tax (14,947 ) (3,380 ) (18,327 ) Comprehensive Income 84,132 2,380 86,512 Dividends paid (31,987 ) (31,987 ) Other noncontrolling interest activity (4 ) 4 — Stock option exercises, net of shares returned for taxes (4,451 ) (4,451 ) Stock based compensation expense 5,700 5,700 Total Equity at August 31, 2014 $ 1,436,234 $ 198,134 $ 1,634,368

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Aug. 31, 2015
Results of Reportable Segments	The following tables reflect the results of our reportable segments consistent with our management philosophy, and represent the information we utilize, in conjunction with various strategic, operational and other financial performance criteria, in evaluating the performance of our portfolio of businesses. Information for all periods presented has been recast to reflect the current quarter change in reportable segments. Three Months Ended August 31, August 31, (In thousands) Net Sales Industrial Segment $ 663,329 $ 694,284 Specialty Segment 183,640 79,602 Consumer Segment 395,557 430,010 Consolidated $ 1,242,526 $ 1,203,896 Income (Loss) Before Income Taxes (a) Industrial Segment Income Before Income Taxes (a) $ 82,751 $ 85,423 Interest (Expense), Net (b) (1,499 ) (2,671 ) EBIT (c) $ 84,250 $ 88,094 Specialty Segment Income Before Income Taxes (a) $ 28,206 $ 17,041 Interest (Expense), Net (b) 196 38 EBIT (c) $ 28,010 $ 17,003 Consumer Segment Income Before Income Taxes (a) $ 66,123 $ 76,669 Interest (Expense), Net (b) 58 (8 ) EBIT (c) $ 66,065 $ 76,677 Corporate/Other (Expense) Before Income Taxes (a) $ (34,879 ) $ (31,055 ) Interest (Expense), Net (b) (17,147 ) (12,971 ) EBIT (c) $ (17,732 ) $ (18,084 ) Consolidated Income (Loss) Before Income Taxes (a) $ 142,201 $ 148,078 Interest (Expense), Net (b) (18,392 ) (15,612 ) EBIT (c) $ 160,593 $ 163,690 August 31, May 31, Identifiable Assets Industrial Segment $ 2,033,370 $ 2,105,364 Specialty Segment 798,347 798,893 Consumer Segment 1,661,726 1,626,097 Corporate/Other 167,964 163,886 Consolidated $ 4,661,407 $ 4,694,240 (a) The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles (GAAP) in the United States, to EBIT. (b) Interest (expense), net includes the combination of interest (expense) and investment income/(expense), net. (c) EBIT is defined as earnings (loss) before interest and taxes. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT as a performance evaluation measure because interest expense is essentially related to acquisitions, as opposed to segment operations. We believe EBIT is useful to investors for this purpose as well, using EBIT as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and taxes in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness and ongoing tax obligations. 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 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.

Specialty Products Holding Co33

Specialty Products Holding Corp. ("SPHC") - Additional Information (Detail) - USD ($)	3 Months Ended
	Aug. 31, 2015	May. 31, 2015
Reorganization [Line Items]
Amount funded for trust as per agreement	$ 450,000,000
Revolving credit facility, maximum borrowing capacity	800,000,000
Initial payment for long term debt	450,000,000
Business combination, total consideration transferred	772,600,000
Business acquisition, preliminary fair value of goodwill	$ 1,202,311,000	$ 1,215,688,000
RPM Holdco
Reorganization [Line Items]
Percentage of ownership	21.39%
Business acquisition, allocation of total consideration	$ 208,400,000
Business acquisition, preliminary fair value of goodwill	118,700,000
Business acquisition, preliminary fair value of intangible assets	176,000,000
Business acquisition, preliminary fair value of income tax assets	271,700,000
Business acquisition, preliminary fair value of net deferred tax liabilities	72,300,000
RPM Holdco \| Indefinite-Lived Trade Names
Reorganization [Line Items]
Business acquisition, preliminary fair value of intangible assets	52,700,000
RPM Holdco \| Formulas
Reorganization [Line Items]
Business acquisition, preliminary fair value of intangible assets	2,600,000
RPM Holdco \| Customer Relationships
Reorganization [Line Items]
Business acquisition, preliminary fair value of intangible assets	118,700,000
RPM Holdco \| Definite-Lived Trade Names
Reorganization [Line Items]
Business acquisition, preliminary fair value of intangible assets	2,000,000
Other Long-Term Liabilities
Reorganization [Line Items]
Bankruptcy Note, net present value	329,700,000
Second Anniversary
Reorganization [Line Items]
Amount funded for trust as per agreement	102,500,000
Third Anniversary
Reorganization [Line Items]
Amount funded for trust as per agreement	120,000,000
Fourth Anniversary
Reorganization [Line Items]
Amount funded for trust as per agreement	125,000,000
Specialty Products Holding Corp. (SPHC) \| RPM Holdco
Reorganization [Line Items]
Business acquisition, allocation of total consideration	$ 564,200,000

New Accounting Pronouncements -

New Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Millions	Aug. 31, 2015	May. 31, 2015
Significant Of Accounting Policies [Line Items]
Deferred debt cost, Current	$ 3	$ 3
Deferred debt costs, long term net	$ 10.6	$ 11.5

Summary of Marketable Securitie

Summary of Marketable Securities by Asset Type (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	$ 147,533	$ 149,864
Available-for-Sale Securities, Gross Unrealized Gains	4,207	8,721
Available-for-Sale Securities, Gross Unrealized Losses	(9,777)	(3,815)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	141,963	154,770
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	125,037	127,189
Available-for-Sale Securities, Gross Unrealized Gains	3,918	8,330
Available-for-Sale Securities, Gross Unrealized Losses	(9,598)	(3,653)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	119,357	131,866
Equity securities \| Stocks \| Foreign
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	4,201	3,722
Available-for-Sale Securities, Gross Unrealized Gains	193	339
Available-for-Sale Securities, Gross Unrealized Losses	(415)	(85)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	3,979	3,976
Equity securities \| Stocks \| Domestic
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	31,465	34,368
Available-for-Sale Securities, Gross Unrealized Gains	2,757	5,649
Available-for-Sale Securities, Gross Unrealized Losses	(1,004)	(559)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	33,218	39,458
Equity securities \| Mutual funds \| Foreign
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	32,681	32,657
Available-for-Sale Securities, Gross Unrealized Gains	959	2,114
Available-for-Sale Securities, Gross Unrealized Losses	(2,702)	(230)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	30,938	34,541
Equity securities \| Mutual funds \| Domestic
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	56,690	56,442
Available-for-Sale Securities, Gross Unrealized Gains	9	228
Available-for-Sale Securities, Gross Unrealized Losses	(5,477)	(2,779)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	51,222	53,891
Fixed maturity
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	22,496	22,675
Available-for-Sale Securities, Gross Unrealized Gains	289	391
Available-for-Sale Securities, Gross Unrealized Losses	(179)	(162)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	22,606	22,904
Fixed maturity \| U.S. Treasury and other government
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	21,187	21,340
Available-for-Sale Securities, Gross Unrealized Gains	111	171
Available-for-Sale Securities, Gross Unrealized Losses	(179)	(162)
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	21,119	21,349
Fixed maturity \| Foreign bonds
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	36	36
Available-for-Sale Securities, Gross Unrealized Gains	2	2
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	38	38
Fixed maturity \| Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	59	81
Available-for-Sale Securities, Gross Unrealized Gains	37	47
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	96	128
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Available-for-Sale Securities, Amortized Cost	1,214	1,218
Available-for-Sale Securities, Gross Unrealized Gains	139	171
Available-for-Sale Securities, Fair Value (Net Carrying Amount)	$ 1,353	$ 1,389

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($)	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	May. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, current	$ 77,800,000		$ 69,300,000
Available-for-sale securities, long-term	64,200,000		$ 85,500,000
Gross gains realized on sales of investments	2,500,000	$ 2,100,000
Gross realized losses on sales of investments	$ 100,000	$ 0
Maximum
Schedule of Available-for-sale Securities [Line Items]
Investments with unrealized loss, percentage of fair values less than original cost	15.00%

Summary of Securities in Unreal

Summary of Securities in Unrealized Loss Position and Included in Accumulated Other Comprehensive Income (Loss), Aggregated by Length of Time Investments (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Total investments with unrealized losses, fair value	$ 100,639	$ 58,978
Unrealized losses with a loss position for less than 12 months, fair value	81,271	32,693
Unrealized losses with a loss position for more than 12 months, fair value	19,368	26,285
Total investments with unrealized losses, gross unrealized losses	(9,777)	(3,815)
Unrealized losses with a loss position for less than 12 months, gross unrealized losses	(7,231)	(1,441)
Unrealized losses with a loss position for more than 12 months, gross unrealized losses	$ (2,546)	$ (2,374)

Net Carrying Values of Debt Sec

Net Carrying Values of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Available-for-Sale Securities, amortized cost
Less than one year, amortized cost	$ 3,609
One year through five years, amortized cost	15,787
Six years through ten years, amortized cost	1,919
After ten years, amortized cost	1,181
Available-for-sale Debt Securities, Amortized Cost Basis, Total	22,496
Available-for-Sale Securities, fair value
Less than one year, fair value	3,609
One year through five years, fair value	15,724
Six years through ten years, fair value	1,937
After ten years, fair value	1,336
Marketable debt securities, carrying value	$ 22,606	$ 22,904

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ (26,013)	$ (27,598)
Assets (liabilities) at fair value	110,724	120,803
Foreign currency forward contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contract	(5,226)	(6,369)
U.S. Treasury and other government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	21,119	21,349
Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	38	38
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	96	128
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	1,353	1,389
Stocks \| Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	3,979	3,976
Stocks \| Domestic
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	33,218	39,458
Mutual funds \| Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	30,938	34,541
Mutual funds \| Domestic
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	51,222	53,891
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets (liabilities) at fair value	37,197	43,434
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Stocks \| Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	3,979	3,976
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Stocks \| Domestic
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	33,218	39,458
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets (liabilities) at fair value	99,540	104,967
Significant Other Observable Inputs (Level 2) \| Foreign currency forward contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contract	(5,226)	(6,369)
Significant Other Observable Inputs (Level 2) \| U.S. Treasury and other government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	21,119	21,349
Significant Other Observable Inputs (Level 2) \| Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	38	38
Significant Other Observable Inputs (Level 2) \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	96	128
Significant Other Observable Inputs (Level 2) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	1,353	1,389
Significant Other Observable Inputs (Level 2) \| Mutual funds \| Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	30,938	34,541
Significant Other Observable Inputs (Level 2) \| Mutual funds \| Domestic
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on recurring basis	51,222	53,891
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(26,013)	(27,598)
Assets (liabilities) at fair value	$ (26,013)	$ (27,598)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2015	May. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Settlements of contingent consideration obligations	$ 1,600
Fair Value, Measurements, Recurring \| Foreign currency forward contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts, fair value of liability	$ 5,226	$ 6,369

Fair Value and Carrying Value o

Fair Value and Carrying Value of Financial Instruments and Long-Term Debt (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015	Aug. 31, 2014	May. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, carrying value	$ 169,458	$ 174,711	$ 225,025	$ 332,868
Marketable equity securities, carrying value	119,357	131,866
Marketable debt securities, carrying value	22,606	22,904
Long-term debt, including current portion, carrying value	1,732,191	1,656,075
Cash and cash equivalents, fair value	169,458	174,711
Marketable securities, fair value	141,963	154,770
Long-term debt, including current portion, fair value	1,827,275	1,783,962
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, fair value	119,357	131,866
Fixed maturity
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities, fair value	$ 22,606	$ 22,904

Investment (Income), Net (Detai

Investment (Income), Net (Detail) - USD ($) $ in Thousands	3 Months Ended
Investment (Income), Net (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Net Investment Income [Line Items]
Interest (income)	$ (1,364)	$ (1,404)
(Gain) on sale of marketable securities	(2,376)	(2,116)
Dividend (income)	(328)	(283)
Investment (income), net	$ (4,068)	$ (3,803)

Other (Income), Net (Detail)

Other (Income), Net (Detail) - USD ($) $ in Thousands	3 Months Ended
Other (Income), Net (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	Aug. 31, 2014
Component Of Other Expense Income Nonoperating [Line Items]
Royalty (income) expense, net	$ (10)	$ (1,217)
(Income) related to unconsolidated equity affiliates	(479)	(605)
Other (income), net	$ (489)	$ (1,822)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
Income Taxes - Additional Information (Detail) - USD ($)	Aug. 31, 2015	Aug. 31, 2014	May. 31, 2015
Income Tax [Line Items]
Effective income tax rate	29.40%	29.20%
Federal statutory rate	35.00%
Undistributed foreign earnings	$ 400,800,000		$ 419,100,000
Deferred income tax liability	101,600,000		$ 108,500,000
Provision for deferred income taxes	$ 0

Major Classes of Inventories, N

Major Classes of Inventories, Net of Reserves (Detail) - USD ($) $ in Thousands	Aug. 31, 2015	May. 31, 2015
Inventory [Line Items]
Raw material and supplies	$ 249,080	$ 235,649
Finished goods	469,889	438,556
Total Inventory, Net of Reserves	$ 718,969	$ 674,205

Stock Repurchase Program - Addi

Stock Repurchase Program - Additional Information (Detail) $ in Millions	3 Months Ended
	Aug. 31, 2015USD ($)shares
Stock Repurchase Programs [Line Items]
Authorization of stock repurchase program	Jan. 8, 2008
Shares repurchased	300,000
Shares repurchased, value \| $	$ 12.8
Minimum
Stock Repurchase Programs [Line Items]
Shares authorized to be repurchased, per year	1,000,000
Maximum
Stock Repurchase Programs [Line Items]
Shares authorized to be repurchased, per year	2,000,000

Reconciliation of Numerator and

Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share, Calculated using Treasury Method and Two-Class Method (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Aug. 31, 2015	Aug. 31, 2014
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders		$ 99,815	$ 99,079
Less: Allocation of earnings and dividends to participating securities		(1,577)	(2,179)
Net income available to common shareholders - basic		98,238	96,900
Add: Undistributed earnings reallocated to unvested shareholders			12
Reverse allocation of earnings and dividends to participating securities		1,577
Add: Income effect of contingently issuable shares		1,356	1,339
Net income available to common shareholders - diluted		$ 101,171	$ 98,251
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		130,045	130,094
Average diluted options		2,360	1,065
Net issuable common share equivalents		1,023
Additional shares issuable assuming conversion of convertible securities	[1]	3,879	3,873
Total shares for diluted earnings per share		137,307	135,032
Earnings per Share of Common Stock Attributable to RPM International Inc. Stockholders:
Basic		$ 0.76	$ 0.74
Diluted	[2]	$ 0.74	$ 0.73

[1]	Represents the number of shares that would be issued if our contingently convertible notes were converted. We include these shares in the calculation of diluted EPS as the conversion of the notes may be settled, at our election, in cash, shares of our common stock, or a combination of cash and shares of our common stock.
[2]	For the quarters ended August 31, 2015 and 2014, approximately 2,201,000 and 3,034,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted earnings per share, as the effect would have been anti-dilutive.

Reconciliation of Numerator a48

Reconciliation of Numerator and Denominator of Basic and Diluted Earnings Per Share, Calculated using Treasury Method and Two-Class Method (Parenthetical) (Detail) - shares	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock-based compensation plans, excluded from the calculation of diluted earnings per share, anti-dilutive shares of stock	2,201,000	3,034,000

Pension Plans - Additional Info

Pension Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	May. 31, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 9,600
Interest cost	6,100
Reduction of service cost	(200)
Reduction of interest cost	(1,400)
Increase in income from continuing operations	1,600
Increase in net income	$ 1,100
Increase in basic and diluted earnings per share	$ 0.01
Pension Benefits, U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected reduction to net periodic benefit expense	$ (5,400)
Service cost	8,202	$ 7,564
Interest cost	4,499	5,002
Contribution to retirement plans in current fiscal year			$ 31,900
Contribution to retirement plans in the current remaining fiscal year	31,900
Pension Benefits, Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected reduction to net periodic benefit expense	(1,000)
Service cost	1,067	1,231
Interest cost	1,323	$ 1,891
Contribution to retirement plans in current fiscal year			$ 5,700
Contribution to retirement plans in the current remaining fiscal year	$ 5,700

Retirement-Related Benefit Plan

Retirement-Related Benefit Plans' Impact on Income Before Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 9,600
Interest cost	6,100
Pension Benefits, U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	8,202	$ 7,564
Interest cost	4,499	5,002
Expected return on plan assets	(6,437)	(6,034)
Prior service cost (credit)	58	74
Net actuarial (gains) losses recognized	4,190	3,472
Net Periodic Benefit Cost	10,512	10,078
Pension Benefits, Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1,067	1,231
Interest cost	1,323	1,891
Expected return on plan assets	(1,983)	(2,296)
Prior service cost (credit)		10
Net actuarial (gains) losses recognized	457	487
Net Periodic Benefit Cost	864	1,323
Postretirement Benefits, U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	59	66
Prior service cost (credit)	(62)	(62)
Net actuarial (gains) losses recognized		(34)
Net Periodic Benefit Cost	(3)	(30)
Postretirement Benefits, Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	281	313
Interest cost	221	308
Net actuarial (gains) losses recognized	61	104
Net Periodic Benefit Cost	$ 563	$ 725

Changes in Accrued Warranty Bal

Changes in Accrued Warranty Balances (Detail) - USD ($) $ in Thousands		3 Months Ended
		Aug. 31, 2015	Aug. 31, 2014
Product Liability Contingency [Line Items]
Beginning Balance		$ 11,663	$ 14,741
Deductions	[1]	(4,660)	(14,675)
Provision charged to SG&A expense		3,109	7,355
Ending Balance		$ 10,112	$ 7,421

[1]	Primarily claims paid during the year.

Components of Total Equity and

Components of Total Equity and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Stockholders Equity Note [Line Items]
Total equity, beginning of period	$ 1,293,465	$ 1,578,594
Net income	100,362	104,839
Other Comprehensive Income:
Foreign currency translation adjustments	(30,606)	(21,266)
Pension and other postretirement benefit liability adjustments, net of tax	4,160	2,929
Unrealized (loss) gain on securities, net of tax	(7,084)	76
Unrealized gain on derivatives, net of tax		(66)
Total Other Comprehensive Income, net of tax	(33,530)	(18,327)
Comprehensive Income	66,832	86,512
Dividends paid	(34,634)	(31,987)
Shares repurchased and returned for taxes	(35,348)
Stock option exercises, net of shares returned for taxes		(4,451)
Stock based compensation expense	6,707	5,700
Total Equity, end of period	1,297,022	1,634,368
Total RPM International Inc. Equity
Stockholders Equity Note [Line Items]
Total equity, beginning of period	1,291,392	1,382,844
Net income	99,815	99,079
Other Comprehensive Income:
Foreign currency translation adjustments	(30,606)	(17,738)
Pension and other postretirement benefit liability adjustments, net of tax	4,160	2,760
Unrealized (loss) gain on securities, net of tax	(7,084)	83
Unrealized gain on derivatives, net of tax		(52)
Total Other Comprehensive Income, net of tax	(33,530)	(14,947)
Comprehensive Income	66,285	84,132
Dividends paid	(34,634)	(31,987)
Other noncontrolling interest activity		(4)
Shares repurchased and returned for taxes	(35,348)
Stock option exercises, net of shares returned for taxes		(4,451)
Stock based compensation expense	6,707	5,700
Total Equity, end of period	1,294,402	1,436,234
Noncontrolling Interest
Stockholders Equity Note [Line Items]
Total equity, beginning of period	2,073	195,750
Net income	547	5,760
Other Comprehensive Income:
Foreign currency translation adjustments		(3,528)
Pension and other postretirement benefit liability adjustments, net of tax		169
Unrealized (loss) gain on securities, net of tax		(7)
Unrealized gain on derivatives, net of tax		(14)
Total Other Comprehensive Income, net of tax		(3,380)
Comprehensive Income	547	2,380
Other noncontrolling interest activity		4
Total Equity, end of period	$ 2,620	$ 198,134

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
Segment Information - Additional Information (Detail)	Aug. 31, 2015Segment
Segment Reporting Information [Line Items]
Number of reportable segments	3
Number of operating segments	7

Results of Reportable Segments

Results of Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended
		Aug. 31, 2015	Aug. 31, 2014	May. 31, 2015
Segment Reporting Information [Line Items]
Net Sales		$ 1,242,526	$ 1,203,896
Income (Loss) Before Income Taxes	[1]	142,201	148,078
Interest (Expense), Net	[2]	(18,392)	(15,612)
EBIT	[3]	160,593	163,690
Total Assets		4,661,407		$ 4,694,240
Operating Segments \| Industrial Segment
Segment Reporting Information [Line Items]
Net Sales		663,329	694,284
Income (Loss) Before Income Taxes	[1]	82,751	85,423
Interest (Expense), Net	[2]	(1,499)	(2,671)
EBIT	[3]	84,250	88,094
Total Assets		2,033,370		2,105,364
Operating Segments \| Consumer Segment
Segment Reporting Information [Line Items]
Net Sales		395,557	430,010
Income (Loss) Before Income Taxes	[1]	66,123	76,669
Interest (Expense), Net	[2]	58	(8)
EBIT	[3]	66,065	76,677
Total Assets		1,661,726		1,626,097
Operating Segments \| Specialty Segment
Segment Reporting Information [Line Items]
Net Sales		183,640	79,602
Income (Loss) Before Income Taxes	[1]	28,206	17,041
Interest (Expense), Net	[2]	196	38
EBIT	[3]	28,010	17,003
Total Assets		798,347		798,893
Corporate/Other
Segment Reporting Information [Line Items]
Income (Loss) Before Income Taxes	[1]	(34,879)	(31,055)
Interest (Expense), Net	[2]	(17,147)	(12,971)
EBIT	[3]	(17,732)	$ (18,084)
Total Assets		$ 167,964		$ 163,886

[1]	The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles (GAAP) in the United States, to EBIT.
[2]	Interest (expense), net includes the combination of interest (expense) and investment income/(expense), net.
[3]	EBIT is defined as earnings (loss) before interest and taxes. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT as a performance evaluation measure because interest expense is essentially related to acquisitions, as opposed to segment operations. We believe EBIT is useful to investors for this purpose as well, using EBIT as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and taxes in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness and ongoing tax obligations. 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 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.