Masco (MAS) 10-Q 28 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MASCO CORP /DE/
Entity Central Index Key	62996
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	347,595,200
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Current assets:
Cash and cash investments	$1,578	$1,383
Short-term bank deposits	197	306
Receivables	1,248	1,040
Deferred income taxes	219	244
Prepaid expenses and other	74	71
Inventories:
Finished goods	467	425
Raw material	291	294
Work in process	105	100
Total	863	819
Total current assets	4,179	3,863
Property and equipment, net	1,106	1,139
Goodwill	1,878	1,884
Other intangible assets, net	158	145
Other assets	147	136
Total Assets	7,468	7,167
Current Liabilities:
Notes payable	506	505
Accounts payable	1,019	950
Accrued liabilities	682	756
Total current liabilities	2,207	2,211
Long-term debt	3,418	2,919
Other liabilities	770	803
Deferred income taxes	114	106
Total Liabilities	6,509	6,039
Commitments and contingencies
Masco Corporation's shareholders' equity:
Common shares, par value $1 per share; Authorized shares: 1,400,000,000; issued and outstanding: 2015 - 342,600,000; 2014 - 345,000,000	343	345
Preferred shares authorized: 1,000,000; issued and outstanding: 2015 - None; 2014 - None
Retained earnings	606	690
Accumulated other comprehensive loss	-180	-111
Total Masco Corporation's shareholders' equity	769	924
Noncontrolling interest	190	204
Total equity	959	1,128
Total liabilities and equity	$7,468	$7,167

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
CONDENSED CONSOLIDATED BALANCE SHEETS
Common share, par value (in dollars per share)	$1	$1
Common shares, shares authorized	1,400,000,000	1,400,000,000
Common shares, shares issued	342,600,000	345,000,000
Common shares, shares outstanding	342,600,000	345,000,000
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$2,018	$1,965
Cost of sales	1,450	1,418
Gross profit	568	547
Selling, general and administrative expenses	397	395
Operating profit	171	152
Other income (expense), net:
Interest expense	-56	-56
Other, net	1	-3
Total other income (expense), net	-55	-59
Income from continuing operations before income taxes	116	93
Income taxes	43	5
Income from continuing operations	73	88
Loss from discontinued operations		-2
Net income	73	86
Less: Net income attributable to noncontrolling interest	9	12
Net income attributable to Masco Corporation	64	74
Basic:
Income from continuing operations	$0.18	$0.21
Loss from discontinued operations (in dollars per share)		($0.01)
Net income	$0.18	$0.21
Diluted:
Income from continuing operations	$0.18	$0.21
Loss from discontinued operations (in dollars per share)		($0.01)
Net income	$0.18	$0.21
Amounts attributable to Masco Corporation:
Income from continuing operations	64	76
Loss from discontinued operations		-2
Net income attributable to Masco Corporation	$64	$74

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
Net income	$73	$86
Less: Net income attributable to noncontrolling interest	9	12
Net income attributable to Masco Corporation	64	74
Other comprehensive loss, net of tax:
Cumulative translation adjustment	-96	-4
Amortization of pension prior service cost and net loss	4	3
Other comprehensive loss	-92	-1
Less: Other comprehensive loss attributable to noncontrolling interest	-23	-1
Other comprehensive (loss) income attributable to Masco Corporation	-69
Total comprehensive (loss) income	-19	85
Less: Total comprehensive (loss) income attributable to noncontrolling interest	-14	11
Total comprehensive (loss) income attributable to Masco Corporation	($5)	$74

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM (FOR) OPERATING ACTIVITIES:
Cash provided by operations	$144	$121
Increase in receivables	-244	-227
Increase in inventories	-56	-75
Increase (decrease) in accounts payable and accrued liabilities, net	4	-63
Net cash for operating activities	-152	-244
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES:
Purchase of Company common stock	-103	-39
Cash dividends paid	-32	-27
Issuance of notes, net of issuance costs	497
Net cash from (for) financing activities	362	-66
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES:
Capital expenditures	-32	-26
Acquisition of businesses, net of cash acquired	-26	-2
Proceeds from disposition of:
Other financial investments	3	2
Property and equipment	3	5
Short-term bank deposits	141	84
Purchases of:
Short-term bank deposits	-63	-69
Other, net	-15
Net cash from (for) investing activities	11	-6
Effect of exchange rate changes on cash and cash investments	-26	-1
CASH AND CASH INVESTMENTS:
Increase (Decrease) for the period	195	-317
At January 1	1,383	1,223
At March 31	$1,578	$906

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)	Common Shares ($1 par value)	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest	Total
In Millions, unless otherwise specified
Balance at Dec. 31, 2013	$349	$16	$79	$115	$228	$787
Increase (Decrease) in Stockholders' Equity
Total comprehensive income			74		11	85
Shares issued	2	-5				-3
Shares retired:
Repurchased	-2	-9	-28			-39
Surrendered (non-cash)		-14				-14
Cash dividends declared			-27			-27
Stock-based compensation		12				12
Balance at Mar. 31, 2014	349		98	115	239	801
Balance at Dec. 31, 2014	345		690	-111	204	1,128
Increase (Decrease) in Stockholders' Equity
Total comprehensive income			64	-69	-14	-19
Shares issued	3	-8				-5
Shares retired:
Repurchased	-4		-102			-106
Surrendered (non-cash)	-1		-15			-16
Cash dividends declared			-31			-31
Stock-based compensation		8				8
Balance at Mar. 31, 2015	$343		$606	($180)	$190	$959

Accounting_Policies

Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies
Accounting Policies
	A. ACCOUNTING POLICIES
	In our opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments, of a normal recurring nature, necessary to present fairly our financial position as at March 31, 2015, our results of operations, comprehensive (loss) income, cash flows, and changes in shareholders’ equity for the three months ended March 31, 2015 and 2014.  The condensed consolidated balance sheet at December 31, 2014 was derived from audited financial statements.
	Recently Issued Accounting Pronouncements:  In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2014-8 (ASU 2014-8) “Reporting of Discontinued Operations and Disclosure of Disposals of Components of an Entity,” which changes the criteria for determining which disposals can be presented as discontinued operations and modifies the related disclosure requirements.  On January 1, 2015, we adopted the ASU 2014-8.  The adoption of the new standard did not have an impact on our financial position or results of operations.
	In February 2015, the FASB issued Accounting Standards Update 2015-02 (ASU 2015-02) “Consolidation (Topic 810) — Amendments to the Consolidations Analysis,” which modifies certain aspects of both the variable interest and voting models.  ASU 2015-2 is effective for us for annual periods beginning January 1, 2016.  We are currently evaluating the impact the adoption of this new standard will have on our financial position or results of operations.
	In April 2015, the FASB issued Accounting Standards Update 2015-03 (ASU 2015-03) “Interest — Imputation of Interest (Subtopic 835-30) — Simplifying the Presentation of Debt Issuance Costs,” that requires that all costs incurred to issue debt be presented in the balance sheet as a direct deduction from the carrying value of the debt.  ASU 2015-3 is effective for us for annual periods beginning January 1, 2016.  We do not expect that the adoption of the new standard will have a material impact on our financial position.

Discontinued_Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2015
Discontinued Operations
Discontinued Operations
	B. DISCONTINUED OPERATIONS
	On September 30, 2014, we announced a plan to spin off 100 percent of our Installation and Other Services businesses into an independent, publicly-traded company (to be named TopBuild Corp.) through a tax-free distribution of the stock of TopBuild Corp. to our shareholders. The transaction is expected to be completed in mid-2015. For the three months ended March 31, 2015, we have incurred $4 million of costs and charges related to this transaction. Under generally accepted accounting principles, the Installation and Other Services businesses are included in continuing operations until the transaction is completed.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2015
Acquisitions
Acquisitions
	C. ACQUISITIONS
	In the first quarter of 2015, we acquired an aquatic fitness business for approximately $26 million in cash in the Plumbing Products segment.  This acquisition will allow our spa business to expand its wellness products platform, open new channels of distribution and access a new customer base.
	The results of this acquisition are included in the condensed consolidated financial statements from the date of acquisition.

Goodwill_and_Other_Intangible_

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
	D. GOODWILL AND OTHER INTANGIBLE ASSETS
	The changes in the carrying amount of goodwill for the three months ended March 31, 2015, by segment, were as follows, in millions:
			Gross Goodwill		Accumulated			Net Goodwill
			At		Impairment			At
			Mar. 31, 2015		Losses			Mar. 31, 2015
	Cabinets and Related Products		$	240	$	(59	)	$	181
	Plumbing Products		525		(340		)	185
	Installation and Other Services		1,806		(762		)	1,044
	Decorative Architectural Products		294		(75		)	219
	Other Specialty Products		983		(734		)	249
	Total		$	3,848	$	(1,970	)	$	1,878
			Gross Goodwill		Accumulated			Net Goodwill							Net Goodwill
			At		Impairment			At							At
			Dec. 31, 2014		Losses			Dec. 31, 2014		Acquisitions		Other(A)			Mar. 31, 2015
	Cabinets and Related Products		$	240	$	(59	)	$	181	$	—	$	—		$	181
	Plumbing Products		531		(340		)	191		9		(15		)	185
	Installation and Other Services		1,806		(762		)	1,044		—		—			1,044
	Decorative Architectural Products		294		(75		)	219		—		—			219
	Other Specialty Products		983		(734		)	249		—		—			249
	Total		$	3,854	$	(1,970	)	$	1,884	$	9	$	(15	)	$	1,878
		(A)		Other principally includes the effect of foreign currency translation.
	Other indefinite-lived intangible assets were $136 million and $131 million at March 31, 2015 and December 31, 2014, respectively, and principally included registered trademarks. The carrying value of our definite-lived intangible assets was $22 million (net of accumulated amortization of $65 million) at March 31, 2015 and $14 million (net of accumulated amortization of $65 million) at December 31, 2014, and principally included customer relationships.

Depreciation_and_Amortization

Depreciation and Amortization	3 Months Ended
	Mar. 31, 2015
Depreciation and Amortization
Depreciation and Amortization
	E. DEPRECIATION AND AMORTIZATION
	Depreciation and amortization expense, including discontinued operations, was $34 million and $43 million for the three months ended March 31, 2015 and 2014, respectively.  Depreciation and amortization expense included accelerated depreciation (relating to business rationalization initiatives) of $1 million for the three months ended March 31, 2014.

Fair_Value_of_Financial_Invest

Fair Value of Financial Investments	3 Months Ended
	Mar. 31, 2015
Fair Value of Financial Investments
Fair Value of Financial Investments
	F. FAIR VALUE OF FINANCIAL INVESTMENTS
	We have maintained investments in available-for-sale securities, equity method investments and a number of private equity funds, principally as part of our tax planning strategies, as any gains enhance the utilization of any current and future tax capital losses.  Financial investments included in other assets were as follows, in millions:
		March 31,		December 31,
		2015		2014
	Auction rate securities	$	22	$	22
	Total recurring investments	22		22
	Equity method investments	11		11
	Private equity funds	12		14
	Other investments	3		3
	Total	$	48	$	50
	Recurring Fair Value Measurements.  The fair value of the auction rate securities held by us have been estimated, on a recurring basis, using a discounted cash flow model (Level 3 input).  The significant inputs in the discounted cash flow model used to value the auction rate securities include:  expected maturity of auction rate securities, discount rate used to determine the present value of expected cash flows and the assumptions for credit defaults, since the auction rate securities are backed by credit default swap agreements.
	Our investments in auction rate securities included cost basis of $19 million and pre-tax unrealized gains of $3 million and had a recorded basis of $22 million at both March 31, 2015 and December 31, 2014.
	Non-Recurring Fair Value Measurements.  During the three months ended March 31, 2015 and 2014, we did not measure any financial investments at fair value on a non-recurring basis, as there was no other-than-temporary decline in the estimated value of these investments.
	We did not have any transfers between Level 1 and Level 2 financial assets in the three months ended March 31, 2015 or 2014.
	Realized Gains (Losses).  Income (loss) from financial investments, net, included in other, net, within other income (expense), net, was as follows, in millions:
		Three Months Ended
		March 31,
		2015		2014
	Realized gains from private equity funds	$	2	$	1
	Equity investments loss, net	—		(2		)
	Total income (loss) from financial Investments, net	$	2	$	(1	)
	Fair Value of Debt.  The fair value of our short-term and long-term fixed-rate debt instruments is based principally upon modeled market prices for the same or similar issues or the current rates available to us for debt with similar terms and remaining maturities.  The aggregate estimated market value of short-term and long-term debt at March 31, 2015 was approximately $4.3 billion, compared with the aggregate carrying value of $3.9 billion.  The aggregate estimated market value of short-term and long-term debt at December 31, 2014 was approximately $3.7 billion, compared with the aggregate carrying value of $3.4 billion.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities
	G. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	We are exposed to global market risk as part of our normal daily business activities.  To manage these risks, we enter into various derivative contracts.  These contracts include interest rate swap agreements, foreign currency exchange contracts and metals contracts intended to hedge our exposure to copper and zinc. We review our hedging program, derivative positions and overall risk management on a regular basis.
	Interest Rate Swap Agreements.  In March 2012, in connection with the issuance of $400 million of debt, we terminated the interest rate swap hedge relationships that we had entered into in August 2011.  These interest rate swaps were designated as cash flow hedges and effectively fixed interest rates on the forecasted debt issuance to variable rates based on 3-month LIBOR.  Upon termination, the ineffective portion of the cash flow hedges of approximately $2 million loss was recognized in our consolidated statement of operations in other, net.  The remaining loss of approximately $23 million from the termination of these swaps is being amortized as an increase to interest expense over the remaining term of the debt, through March 2022.
	Foreign Currency Contracts.  Our net cash inflows and outflows exposed to the risk of changes in foreign currency exchange rates arise from the sale of products in countries other than the manufacturing source, foreign currency denominated supplier payments, debt and other payables, and investments in subsidiaries.  To mitigate this risk, we, including certain of our European operations, entered into foreign currency forward contracts and foreign currency exchange contracts.
	Gains (losses) related to foreign currency forward and exchange contracts are recorded in our condensed consolidated statements of operations in other income (expense), net.  In the event that the counterparties fail to meet the terms of the foreign currency forward contracts, our exposure is limited to the aggregate foreign currency rate differential with such institutions.
	Metals Contracts.  We have entered into several contracts to manage our exposure to increases in the price of copper and zinc.  Gains (losses) related to these contracts are recorded in our condensed consolidated statements of operations in cost of sales.
	The pre-tax (losses) gains included in our condensed consolidated statements of operations are as follows, in millions:
		Three Months Ended
		March 31,
		2015			2014
	Foreign currency contracts
	Exchange contracts	$	4		$	(2	)
	Forward contracts	(4		)	(1		)
	Metals contracts	(2		)	(3		)
	Total loss	$	(2	)	$	(6	)
	We present our derivatives, net by counterparty due to the right of offset under master netting arrangements in receivables or accrued liabilities in the condensed consolidated balance sheet.  The notional amounts being hedged and the fair value of those derivative instruments, on a gross basis, are as follows, in millions:
		At March 31, 2015
		Notional
		Amount			Balance Sheet
	Foreign currency contracts
	Exchange contracts	$	40
	Receivables				$	5
	Forward contracts	61
	Other assets				3
	Accrued liabilities				(7		)
	Metals contracts	76
	Accrued liabilities				(3		)
		At December 31, 2014
		Notional
		Amount			Balance Sheet
	Foreign currency contracts
	Exchange contracts	$	55
	Receivables				$	6
	Forward contracts	79
	Other assets				2
	Accrued liabilities				(1		)
	Metals contracts	70
	Accrued liabilities				(2		)
	The fair value of all metals and foreign currency derivative contracts is estimated on a recurring basis, quarterly, using Level 2 inputs (significant other observable inputs).

Warranty_Liability

Warranty Liability	3 Months Ended
	Mar. 31, 2015
Warranty Liability
Warranty Liability
	H. WARRANTY LIABILITY
	Changes in our warranty liability were as follows, in millions:
		Three Months Ended			Twelve Months Ended
		March 31, 2015			December 31, 2014
	Balance at January 1	$	135		$	124
	Accruals for warranties issued during the period	13			51
	Accruals related to pre-existing warranties	2			11
	Settlements made (in cash or kind) during the period	(12		)	(46		)
	Other, net (including currency translation)	(2		)	(5		)
	Balance at end of period	$	136		$	135

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt
Debt
	I. DEBT
	On March 17, 2015, we issued $500 million of 4.45% Notes (“Notes”) due April 1, 2025.  The Notes are senior indebtedness and are redeemable at our option.
	On March 28, 2013, we entered into a credit agreement (the “Credit Agreement”) with a bank group, with an aggregate commitment of $1.25 billion and a maturity date of March 28, 2018.
	Based on the limitations of the debt to total capitalization ratio covenant in the Credit Agreement, at March 31, 2015, we had additional borrowing capacity, subject to availability, of up to $1.1 billion.  Additionally, at March 31, 2015, we could absorb a reduction to shareholders’ equity of approximately $579 million and remain in compliance with the debt to total capitalization covenant.
	In order for us to borrow under the Credit Agreement, there must not be any default in our covenants in the Credit Agreement (i.e., in addition to the two financial covenants, principally limitations on subsidiary debt, negative pledge restrictions, legal compliance requirements and maintenance of properties and insurance) and our representations and warranties in the Credit Agreement must be true in all material respects on the date of borrowing (i.e., principally no material adverse change or litigation likely to result in a material adverse change, since December 31, 2012, in each case, no material ERISA or environmental non-compliance and no material tax deficiency).  We were in compliance with all covenants and no borrowings have been made at March 31, 2015.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Stock-Based Compensation
Stock-Based Compensation
	J. STOCK-BASED COMPENSATION
	Our 2014 Long Term Stock Incentive Plan (the “2014 Plan”) provides for the issuance of stock-based incentives in various forms to our employees and non-employee Directors.  At March 31, 2015, outstanding stock-based incentives were in the form of long-term stock awards, stock options, phantom stock awards and stock appreciation rights.  Pre-tax compensation expense and the related income tax benefit for these stock-based incentives were as follows, in millions:
			Three Months Ended
			March 31,
			2015			2014
	Long-term stock awards		$	7		$	11
	Stock options		1			1
	Phantom stock awards and stock appreciation rights		3			—
	Total		$	11		$	12
	Income tax benefit (37 percent tax rate - before valuation allowance)		$	4		$	4
	Long-Term Stock Awards.  Long-term stock awards are granted to our key employees and non-employee Directors and do not cause net share dilution inasmuch as we continue the practice of repurchasing and retiring an equal number of shares in the open market.  We granted 675,040 shares of long-term stock awards in the three months ended March 31, 2015.
	Our long-term stock award activity was as follows, shares in millions:
			Three Months Ended
			March 31,
			2015			2014
	Unvested stock award shares at January 1		6			8
	Weighted average grant date fair value		$	18		$	17
	Stock award shares granted		1			1
	Weighted average grant date fair value		$	26		$	22
	Stock award shares vested		2			2
	Weighted average grant date fair value		$	17		$	17
	Stock award shares forfeited		—			—
	Weighted average grant date fair value		$	19		$	18
	Unvested stock award shares at March 31		5			7
	Weighted average grant date fair value		$	19		$	18
	At March 31, 2015 and 2014, there was $68 million and $94 million of total unrecognized compensation expense related to unvested stock awards, respectively; such awards had a weighted average remaining vesting period of three years in 2015 and four years in 2014.
	The total market value (at the vesting date) of stock award shares which vested during the three months ended March 31, 2015 and 2014 was $48 million and $45 million, respectively.
	Stock Options.  Stock options are granted to our key employees.  The exercise price equals the market price of our common stock at the grant date.  These options generally become exercisable (vest ratably) over five years beginning on the first anniversary from the date of grant and expire no later than 10 years after the grant date.
	We granted 452,380 of stock option shares in the three months ended March 31, 2015 with a grant date exercise price approximating $26 per share. In the first three months of 2015, 136,040 stock option shares were forfeited (including options that expired unexercised).
	Our stock option activity was as follows, shares in millions:
			Three Months Ended
			March 31,
			2015			2014
	Option shares outstanding, January 1		18			24
	Weighted average exercise price		$	21		$	22
	Option shares granted		—			—
	Weighted average exercise price		$	26		$	22
	Option shares exercised		1			1
	Aggregate intrinsic value on date of exercise (A)		$	17 million		$	10 million
	Weighted average exercise price		$	14		$	16
	Option shares forfeited		—			—
	Weighted average exercise price		$	22		$	27
	Option shares outstanding, March 31		17			23
	Weighted average exercise price		$	22		$	22
	Weighted average remaining option term (in years)		3			4
	Option shares vested and expected to vest, March 31		17			23
	Weighted average exercise price		$	22		$	22
	Aggregate intrinsic value (A)		$	108 million		$	93 million
	Weighted average remaining option term (in years)		3			4
	Option shares exercisable (vested), March 31		15			20
	Weighted average exercise price		$	22		$	23
	Aggregate intrinsic value (A)		$	94 million		$	72 million
	Weighted average remaining option term (in years)		3			3
		(A)		Aggregate intrinsic value is calculated using our stock price at each respective date, less the exercise price (grant date price) multiplied by the number of shares.
	At March 31, 2015 and 2014, there were $9 million and $11 million, respectively, of unrecognized compensation expense (using the Black-Scholes option pricing model at the grant date) related to unvested stock options; such options had a weighted average remaining vesting period of three years at both March 31, 2015 and 2014.
	The weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes option pricing model were as follows:
			Three Months Ended
			March 31,
			2015			2014
	Weighted average grant date fair value		$	9.67		$	9.53
	Risk-free interest rate		1.75		%	1.91		%
	Dividend yield		1.32		%	1.34		%
	Volatility factor		42.00		%	49.00		%
Expected option life		6 years			6 years

Employee_Retirement_Plans

Employee Retirement Plans	3 Months Ended
	Mar. 31, 2015
Employee Retirement Plans
Employee Retirement Plans
	K. EMPLOYEE RETIREMENT PLANS
	Net periodic pension cost for our defined-benefit pension plans was as follows, in millions:
		Three Months ended March 31,
		2015					2014
		Qualified			Non-Qualified		Qualified			Non-Qualified
	Service cost	$	1		$	—	$	1		$	—
	Interest cost	12			1		13			2
	Expected return on plan assets	(11		)	—		(12		)	—
	Amortization of net loss	4			1		3			—
	Net periodic pension cost	$	6		$	2	$	5		$	2
	We participate in 21 regional multi-employer pension plans, principally related to building trades; none of the plans are considered significant to us.
	Effective January 1, 2010, we froze all future benefit accruals under substantially all of our domestic qualified and non-qualified defined benefit pension plans.  Future benefit accruals related to our foreign non-qualified plans were frozen several years ago.

Reclassifications_From_Accumul

Reclassifications From Accumulated Other Comprehensive (Loss) Income	3 Months Ended
	Mar. 31, 2015
Reclassifications From Accumulated Other Comprehensive (Loss) Income
Reclassifications from accumulated other comprehensive (loss) income to the condensed consolidated statement of operations
	L. RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
	The reclassifications from accumulated other comprehensive (loss) income to the condensed consolidated statement of operations were as follows, in millions:
		Amount
		Reclassified
	Accumulated Other	Three Months
	Comprehensive	Ended March 31,
	(Loss) Income	2015			2014		Statement of Operations Line Item
	Amortization of defined benefit pension:
	Actuarial losses, Net	$	5		$	3	Selling, general & administrative expense
	Tax (benefit) expense	(1		)	—
	Net of tax	$	4		$	3

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Information
Segment Information
	M. SEGMENT INFORMATION
	Information by segment and geographic area was as follows, in millions:
			Three Months Ended March 31,
			2015		2014		2015			2014
			Net Sales (A)				Operating Profit (Loss)
	Our operations by segment were:
	Cabinets and Related Products		$	249	$	237	$	(4	)	$	(12	)
	Plumbing Products		796		800		111			119
	Installation and Other Services		359		335		7			(4		)
	Decorative Architectural Products		451		441		83			76
	Other Specialty Products		163		152		6			5
	Total		$	2,018	$	1,965	$	203		$	184
	Our operations by geographic area were:
	North America		$	1,641	$	1,556	$	158		$	129
	International, principally Europe		377		409		45			55
	Total		$	2,018	$	1,965	203			184
	General corporate expense, net						(32		)	(32		)
	Operating profit, as reported						171			152
	Other income (expense), net						(55		)	(59		)
	Income from continuing operations before income taxes						$	116		$	93
		(A)		Inter-segment sales were not material.

Severance_Costs

Severance Costs	3 Months Ended
	Mar. 31, 2015
Severance Costs.
Severance Costs
	N. SEVERANCE COSTS
	We recorded charges related to severance of $6 million and $2 million for the three months ended March 31, 2015 and 2014, respectively.  Such charges are principally reflected in the condensed consolidated statement of operations in selling, general and administrative expenses.

Other_Income_Expense_Net

Other Income (Expense), Net	3 Months Ended
	Mar. 31, 2015
Other Income (Expense), Net
Other Income (Expense), Net
	O. OTHER INCOME (EXPENSE), NET
	Other, net, which is included in other income (expense), net, was as follows, in millions:
		Three Months Ended
		March 31,
		2015			2014
	Income from cash and cash investments	$	—		$	1
	Income (loss) from financial investments (Note F)	2			(1		)
	Foreign currency transaction losses	(1		)	(2		)
	Other items, net	—			(1		)
	Total other, net	$	1		$	(3	)

Earnings_Per_Common_Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Common Share
Earnings Per Common Share
	P. EARNINGS PER COMMON SHARE
	Reconciliations of the numerators and denominators used in the computations of basic and diluted earnings per common share were as follows, in millions:
		Three Months Ended
		March 31,
		2015		2014
	Numerator (basic and diluted):
	Income from continuing operations	$	64	$	76
	Less: Allocation to unvested restricted stock awards	1		1
	Income from continuing operations available to common shareholders	$	63	$	75
	Loss from discontinued operations	—		(2		)
	Less: Allocation to unvested restricted stock awards	—		—
	Loss from discontinued operations available to common shareholders	—		(2		)
	Net income available to common shareholders	$	63	$	73
	Denominator:
	Basic common shares (based upon weighted average)	344		351
	Add: Stock option dilution	3		3
	Diluted common shares	347		354
	For the three months ended March 31, 2015 and 2014, we allocated dividends and undistributed earnings to the unvested restricted stock awards (participating securities).
	Additionally, 8 million and 11 million common shares for the three months ended March 31, 2015 and 2014, respectively, related to stock options were excluded from the computation of diluted earnings per common share due to their antidilutive effect.
	In the first three months of 2015, we repurchased and retired 4.1 million shares of our common stock (including 675 thousand shares to offset the dilutive impact of long-term stock awards granted in the first quarter), for approximately $106 million, including $3 million that was cash settled in April 2015. At March 31, 2015, we had 40.9 million shares of our common stock remaining under the September 2014 Board of Directors’ repurchase authorization.
	On the basis of amounts paid (declared), cash dividends per common share were $.09 ($.09) and $.075 ($.075) for the three months ended March 31, 2015 and 2014, respectively.

Other_Commitments_and_Continge

Other Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Other Commitment and Contingencies
Other Commitments and Contingencies
	Q. OTHER COMMITMENTS AND CONTINGENCIES
	We are subject to claims, charges, litigation and other proceedings in the ordinary course of our business, including those arising from or related to contractual matters, intellectual property, personal injury, environmental matters, product liability, product recalls, construction defect, insurance coverage, personnel and employment disputes, anti-trust and other matters, including class actions.  We believe we have adequate defenses in these matters and that the likelihood that the outcome of these matters would have a material adverse effect on us is remote.  However, there is no assurance that we will prevail in these matters, and we could in the future incur judgments, enter into settlements of claims or revise our expectations regarding the outcome of these matters, which could materially impact our results of operations.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes
Income Taxes
	R. INCOME TAXES
	Our effective tax rate was 37 and 5 percent for the three months ended March 31, 2015 and 2014, respectively. The 2015 tax rate includes certain anticipated non-deductible transaction costs related to the previously announced proposed spin-off of our Services Business.  The 2014 tax rate includes the decrease in the valuation allowance resulting from the partial utilization of our U.S. Federal net operating loss carryforward. The effective tax rate was also impacted by a $3 million and $15 million state income tax benefit on uncertain tax positions primarily due to the expiration of applicable statutes of limitation for the three months ended March 31, 2015 and 2014, respectively.
	It is reasonably possible that the continued improvements in certain of our U.S. businesses could result in the objective positive evidence necessary to warrant the reversal of all or a portion of the valuation allowance on certain state and local deferred tax assets, up to approximately $27 million, by the end of 2015.

Accounting_Policies_Policies

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies
Recently Issued Accounting Pronouncements
	Recently Issued Accounting Pronouncements:  In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2014-8 (ASU 2014-8) “Reporting of Discontinued Operations and Disclosure of Disposals of Components of an Entity,” which changes the criteria for determining which disposals can be presented as discontinued operations and modifies the related disclosure requirements.  On January 1, 2015, we adopted the ASU 2014-8.  The adoption of the new standard did not have an impact on our financial position or results of operations.
	In February 2015, the FASB issued Accounting Standards Update 2015-02 (ASU 2015-02) “Consolidation (Topic 810) — Amendments to the Consolidations Analysis,” which modifies certain aspects of both the variable interest and voting models.  ASU 2015-2 is effective for us for annual periods beginning January 1, 2016.  We are currently evaluating the impact the adoption of this new standard will have on our financial position or results of operations.
	In April 2015, the FASB issued Accounting Standards Update 2015-03 (ASU 2015-03) “Interest — Imputation of Interest (Subtopic 835-30) — Simplifying the Presentation of Debt Issuance Costs,” that requires that all costs incurred to issue debt be presented in the balance sheet as a direct deduction from the carrying value of the debt.  ASU 2015-3 is effective for us for annual periods beginning January 1, 2016.  We do not expect that the adoption of the new standard will have a material impact on our financial position.

Goodwill_and_Other_Intangible_1

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Other Intangible Assets
Schedule of changes in carrying amount of goodwill
	The changes in the carrying amount of goodwill for the three months ended March 31, 2015, by segment, were as follows, in millions:
			Gross Goodwill		Accumulated			Net Goodwill
			At		Impairment			At
			Mar. 31, 2015		Losses			Mar. 31, 2015
	Cabinets and Related Products		$	240	$	(59	)	$	181
	Plumbing Products		525		(340		)	185
	Installation and Other Services		1,806		(762		)	1,044
	Decorative Architectural Products		294		(75		)	219
	Other Specialty Products		983		(734		)	249
	Total		$	3,848	$	(1,970	)	$	1,878
			Gross Goodwill		Accumulated			Net Goodwill							Net Goodwill
			At		Impairment			At							At
			Dec. 31, 2014		Losses			Dec. 31, 2014		Acquisitions		Other(A)			Mar. 31, 2015
	Cabinets and Related Products		$	240	$	(59	)	$	181	$	—	$	—		$	181
	Plumbing Products		531		(340		)	191		9		(15		)	185
	Installation and Other Services		1,806		(762		)	1,044		—		—			1,044
	Decorative Architectural Products		294		(75		)	219		—		—			219
	Other Specialty Products		983		(734		)	249		—		—			249
	Total		$	3,854	$	(1,970	)	$	1,884	$	9	$	(15	)	$	1,878
		(A)		Other principally includes the effect of foreign currency translation.

Fair_Value_of_Financial_Invest1

Fair Value of Financial Investments (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value of Financial Investments
Schedule of financial investments included in other assets	Financial investments included in other assets were as follows, in millions:
		March 31,		December 31,
		2015		2014
	Auction rate securities	$	22	$	22
	Total recurring investments	22		22
	Equity method investments	11		11
	Private equity funds	12		14
	Other investments	3		3
	Total	$	48	$	50
Schedule of income (loss) from financial investments, net, included in other, net, within other income (expense), net,	Income (loss) from financial investments, net, included in other, net, within other income (expense), net, was as follows, in millions:
		Three Months Ended
		March 31,
		2015		2014
	Realized gains from private equity funds	$	2	$	1
	Equity investments loss, net	—		(2		)
	Total income (loss) from financial Investments, net	$	2	$	(1	)

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities
Schedule of pre-tax (losses) gains included in the Company's condensed consolidated statements of operations
	The pre-tax (losses) gains included in our condensed consolidated statements of operations are as follows, in millions:
		Three Months Ended
		March 31,
		2015			2014
	Foreign currency contracts
	Exchange contracts	$	4		$	(2	)
	Forward contracts	(4		)	(1		)
	Metals contracts	(2		)	(3		)
	Total loss	$	(2	)	$	(6	)
Schedule of notional amounts being hedged and the fair value of derivative instruments, on a gross basis	The notional amounts being hedged and the fair value of those derivative instruments, on a gross basis, are as follows, in millions:
		At March 31, 2015
		Notional
		Amount			Balance Sheet
	Foreign currency contracts
	Exchange contracts	$	40
	Receivables				$	5
	Forward contracts	61
	Other assets				3
	Accrued liabilities				(7		)
	Metals contracts	76
	Accrued liabilities				(3		)
		At December 31, 2014
		Notional
		Amount			Balance Sheet
	Foreign currency contracts
	Exchange contracts	$	55
	Receivables				$	6
	Forward contracts	79
	Other assets				2
	Accrued liabilities				(1		)
	Metals contracts	70
	Accrued liabilities				(2		)

Warranty_Liability_Tables

Warranty Liability (Tables)	3 Months Ended
	Mar. 31, 2015
Warranty Liability
Schedule of changes in the Company's warranty liability
	Changes in our warranty liability were as follows, in millions:
		Three Months Ended			Twelve Months Ended
		March 31, 2015			December 31, 2014
	Balance at January 1	$	135		$	124
	Accruals for warranties issued during the period	13			51
	Accruals related to pre-existing warranties	2			11
	Settlements made (in cash or kind) during the period	(12		)	(46		)
	Other, net (including currency translation)	(2		)	(5		)
	Balance at end of period	$	136		$	135

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Stock-Based Compensation
Schedule of pre-tax compensation expense and the related income tax benefit for these stock-based incentives	Pre-tax compensation expense and the related income tax benefit for these stock-based incentives were as follows, in millions:
			Three Months Ended
			March 31,
			2015			2014
	Long-term stock awards		$	7		$	11
	Stock options		1			1
	Phantom stock awards and stock appreciation rights		3			—
	Total		$	11		$	12
	Income tax benefit (37 percent tax rate - before valuation allowance)		$	4		$	4
Schedule of the Company's long-term stock award activity
	Our long-term stock award activity was as follows, shares in millions:
			Three Months Ended
			March 31,
			2015			2014
	Unvested stock award shares at January 1		6			8
	Weighted average grant date fair value		$	18		$	17
	Stock award shares granted		1			1
	Weighted average grant date fair value		$	26		$	22
	Stock award shares vested		2			2
	Weighted average grant date fair value		$	17		$	17
	Stock award shares forfeited		—			—
	Weighted average grant date fair value		$	19		$	18
	Unvested stock award shares at March 31		5			7
	Weighted average grant date fair value		$	19		$	18
Schedule of the Company's stock option activity
	Our stock option activity was as follows, shares in millions:
			Three Months Ended
			March 31,
			2015			2014
	Option shares outstanding, January 1		18			24
	Weighted average exercise price		$	21		$	22
	Option shares granted		—			—
	Weighted average exercise price		$	26		$	22
	Option shares exercised		1			1
	Aggregate intrinsic value on date of exercise (A)		$	17 million		$	10 million
	Weighted average exercise price		$	14		$	16
	Option shares forfeited		—			—
	Weighted average exercise price		$	22		$	27
	Option shares outstanding, March 31		17			23
	Weighted average exercise price		$	22		$	22
	Weighted average remaining option term (in years)		3			4
	Option shares vested and expected to vest, March 31		17			23
	Weighted average exercise price		$	22		$	22
	Aggregate intrinsic value (A)		$	108 million		$	93 million
	Weighted average remaining option term (in years)		3			4
	Option shares exercisable (vested), March 31		15			20
	Weighted average exercise price		$	22		$	23
	Aggregate intrinsic value (A)		$	94 million		$	72 million
	Weighted average remaining option term (in years)		3			3
		(A)		Aggregate intrinsic value is calculated using our stock price at each respective date, less the exercise price (grant date price) multiplied by the number of shares.
Schedule of weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes option pricing model
			Three Months Ended
			March 31,
			2015			2014
	Weighted average grant date fair value		$	9.67		$	9.53
	Risk-free interest rate		1.75		%	1.91		%
	Dividend yield		1.32		%	1.34		%
	Volatility factor		42.00		%	49.00		%
	Expected option life		6 years			6 years

Employee_Retirement_Plans_Tabl

Employee Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2015
Employee Retirement Plans
Schedule of net periodic pension cost for the Company's defined-benefit pension plans
	Net periodic pension cost for our defined-benefit pension plans was as follows, in millions:
		Three Months ended March 31,
		2015					2014
		Qualified			Non-Qualified		Qualified			Non-Qualified
	Service cost	$	1		$	—	$	1		$	—
	Interest cost	12			1		13			2
	Expected return on plan assets	(11		)	—		(12		)	—
	Amortization of net loss	4			1		3			—
	Net periodic pension cost	$	6		$	2	$	5		$	2

Reclassifications_From_Accumul1

Reclassifications From Accumulated Other Comprehensive (Loss) Income (Tables)	3 Months Ended
	Mar. 31, 2015
Reclassifications From Accumulated Other Comprehensive (Loss) Income
Schedule of reclassifications from accumulated other comprehensive (loss) income
	The reclassifications from accumulated other comprehensive (loss) income to the condensed consolidated statement of operations were as follows, in millions:
		Amount
		Reclassified
	Accumulated Other	Three Months
	Comprehensive	Ended March 31,
	(Loss) Income	2015			2014		Statement of Operations Line Item
	Amortization of defined benefit pension:
	Actuarial losses, Net	$	5		$	3	Selling, general & administrative expense
	Tax (benefit) expense	(1		)	—
	Net of tax	$	4		$	3

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Information
Schedule of information about the Company by segment and geographic area
	Information by segment and geographic area was as follows, in millions:
			Three Months Ended March 31,
			2015		2014		2015			2014
			Net Sales (A)				Operating Profit (Loss)
	Our operations by segment were:
	Cabinets and Related Products		$	249	$	237	$	(4	)	$	(12	)
	Plumbing Products		796		800		111			119
	Installation and Other Services		359		335		7			(4		)
	Decorative Architectural Products		451		441		83			76
	Other Specialty Products		163		152		6			5
	Total		$	2,018	$	1,965	$	203		$	184
	Our operations by geographic area were:
	North America		$	1,641	$	1,556	$	158		$	129
	International, principally Europe		377		409		45			55
	Total		$	2,018	$	1,965	203			184
	General corporate expense, net						(32		)	(32		)
	Operating profit, as reported						171			152
	Other income (expense), net						(55		)	(59		)
	Income from continuing operations before income taxes						$	116		$	93
		(A)		Inter-segment sales were not material.

Other_Income_Expense_Net_Table

Other Income (Expense), Net (Tables)	3 Months Ended
	Mar. 31, 2015
Other Income (Expense), Net
Schedule of components of other, net, which is included in other income (expense), net	Other, net, which is included in other income (expense), net, was as follows, in millions:
		Three Months Ended
		March 31,
		2015			2014
	Income from cash and cash investments	$	—		$	1
	Income (loss) from financial investments (Note F)	2			(1		)
	Foreign currency transaction losses	(1		)	(2		)
	Other items, net	—			(1		)
	Total other, net	$	1		$	(3	)

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Common Share
Schedule of reconciliations of the numerators and denominators used in the computations of basic and diluted earnings per common share
	Reconciliations of the numerators and denominators used in the computations of basic and diluted earnings per common share were as follows, in millions:
		Three Months Ended
		March 31,
		2015		2014
	Numerator (basic and diluted):
	Income from continuing operations	$	64	$	76
	Less: Allocation to unvested restricted stock awards	1		1
	Income from continuing operations available to common shareholders	$	63	$	75
	Loss from discontinued operations	—		(2		)
	Less: Allocation to unvested restricted stock awards	—		—
	Loss from discontinued operations available to common shareholders	—		(2		)
	Net income available to common shareholders	$	63	$	73
	Denominator:
	Basic common shares (based upon weighted average)	344		351
	Add: Stock option dilution	3		3
	Diluted common shares	347		354

Discontinued_Operations_Detail

Discontinued Operations (Details) (Spinoff of Installation and Other Services, USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2015
Spinoff of Installation and Other Services
Selected financial information for the discontinued operations
Percentage of businesses planned for spinoff	100.00%
Costs and charges related to spin-off transaction		$4

Acquisitions_Details

Acquisitions (Details) (Aquatic fitness business, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Aquatic fitness business
Acquisitions
Cash consideration	$26

Goodwill_and_Other_Intantgible

Goodwill and Other Intantgible Assets (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Goodwill
Gross Goodwill	$3,848	$3,854
Accumulated Impairment Losses	-1,970	-1,970
Net Goodwill	1,878
Changes in the carrying amount of goodwill
Beginning balance	1,884
Other	-15
Acquisitions	9
Ending balance	1,878
Cabinets and Related Products
Goodwill
Gross Goodwill	240	240
Accumulated Impairment Losses	-59	-59
Net Goodwill	181	181
Changes in the carrying amount of goodwill
Beginning balance		181
Ending balance	181	181
Plumbing Products
Goodwill
Gross Goodwill	525	531
Accumulated Impairment Losses	-340	-340
Net Goodwill	185
Changes in the carrying amount of goodwill
Beginning balance	191
Other	-15
Acquisitions	9
Ending balance	185
Installation and Other Services
Goodwill
Gross Goodwill	1,806	1,806
Accumulated Impairment Losses	-762	-762
Net Goodwill	1,044	1,044
Changes in the carrying amount of goodwill
Beginning balance		1,044
Ending balance	1,044	1,044
Decorative Architectural Products
Goodwill
Gross Goodwill	294	294
Accumulated Impairment Losses	-75	-75
Net Goodwill	219	219
Changes in the carrying amount of goodwill
Beginning balance		219
Ending balance	219	219
Other Specialty Products
Goodwill
Gross Goodwill	983	983
Accumulated Impairment Losses	-734	-734
Net Goodwill	249	249
Changes in the carrying amount of goodwill
Beginning balance		249
Ending balance	$249	$249

Goodwill_and_Other_Intangible_2

Goodwill and Other Intangible Assets (Details 2) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Goodwill and Other Intangible Assets
Other indefinite-lived intangible assets	$136	$131
Carrying value of definite-lived intangible assets	22	14
Accumulated amortization	$65	$65

Depreciation_and_Amortization_

Depreciation and Amortization (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Depreciation and Amortization
Depreciation and amortization expense	$34	$43
Accelerated depreciation expenses		$1

Fair_Value_of_Financial_Invest2

Fair Value of Financial Investments (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Fair value of financial investments and liabilities
Total financial investments	$48	$50
Cost basis available-for-sale securities	19	19
Pre-tax unrealized gains, available-for-sale securities	3	3
Recorded basis, available for sale securities	22	22
Recurring | Level 3
Fair value of financial investments and liabilities
Recurring investments, Available-for-sale securities	22	22
Recurring | Auction rate securities | Level 3
Fair value of financial investments and liabilities
Recurring investments, Available-for-sale securities	22	22
Non-recurring investments | Private equity funds
Fair value of financial investments and liabilities
Non-recurring investments	12	14
Non-recurring investments | Other investments
Fair value of financial investments and liabilities
Non-recurring investments	3	3
Non-recurring investments | Equity method investments
Fair value of financial investments and liabilities
Equity method investments	$11	$11

Fair_Value_of_Financial_Invest3

Fair Value of Financial Investments (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income from financial investments, net and impairment charges
Equity investments loss, net		($2,000,000)
Total income (loss) from financial investments, net	2,000,000	-1,000,000
Estimated market value of long-term and short-term debt	4,300,000,000		3,700,000,000
Aggregate carrying value of long-term and short-term debt	3,900,000,000		3,400,000,000
Private equity funds
Income from financial investments, net and impairment charges
Realized gains from private equity funds	$2,000,000	$1,000,000

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Details) (Derivatives designated as hedging instruments, Cash flow hedges, Interest Rate Swaps, 3 month LIBOR interest rate swap, cash flow hedge terminated March 2012, USD $)	1 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2012
Interest Rate Swap Agreements
Debt issued	$400
Interest rate swap loss amortized as an increase to interest expense over the remaining term of the debt	23
Other, net
Interest Rate Swap Agreements
Ineffective portion of the cash flow hedges	$2

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities (Details 2) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Foreign currency exchange contracts
Derivative instruments and hedging activities
Notional Amount	$40	$55
Foreign currency exchange contracts | Receivables | Recurring | Level 2
Derivative instruments and hedging activities
Assets	5	6
Foreign currency forward contracts
Derivative instruments and hedging activities
Notional Amount	61	79
Foreign currency forward contracts | Accrued liabilities. | Recurring | Level 2
Derivative instruments and hedging activities
Liabilities	-7	-1
Foreign currency forward contracts | Other assets | Recurring | Level 2
Derivative instruments and hedging activities
Assets	3	2
Metals contracts
Derivative instruments and hedging activities
Notional Amount	76	70
Metals contracts | Accrued liabilities. | Recurring | Level 2
Derivative instruments and hedging activities
Liabilities	($3)	($2)

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedging Activities (Details 3) (Not designated as a hedge, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative instruments and hedging activities
Total (loss) gain	($2)	($6)
Foreign currency exchange contracts | Other, net
Derivative instruments and hedging activities
Total (loss) gain	4	-2
Foreign currency forward contracts | Other, net
Derivative instruments and hedging activities
Total (loss) gain	-4	-1
Metals contracts | Cost of sales
Derivative instruments and hedging activities
Total (loss) gain	($2)	($3)

Warranty_Liability_Details

Warranty Liability (Details) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Warranty Liability
Balance at the beginning of the period	$135	$124
Accruals for warranties issued during the year	13	51
Accruals related to pre-existing warranties	2	11
Settlements made (in cash or kind) during the year	-12	-46
Other, net (including currency translation)	-2	-5
Balance at the end of the period	$136	$135

Debt_Details

Debt (Details) (USD $)	Mar. 17, 2015	Mar. 31, 2015	Mar. 28, 2013
4.45% Notes and Debentures Due April 1, 2025
Debt
Long-term debt includes notes and debentures	$500,000,000
Interest rate (as a percent)	4.45%
Credit Agreement dated March 28, 2013
Debt
Borrowing capacity, maximum			1,250,000,000
Additional borrowing capacity		1,100,000,000
Absorption of reduction to shareholders' equity to remain in compliance with covenant		579,000,000
Amount borrowed		$0

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Stock-based compensation
Pre-tax compensation expense	$11	$12
Income tax benefit	4	4
Tax rate (as a percent)	37.00%	37.00%
Long-term stock awards
Stock-based compensation
Pre-tax compensation expense	7	11
Stock Options
Stock-based compensation
Pre-tax compensation expense	1	1
Phantom stock awards and stock appreciation rights
Stock-based compensation
Pre-tax compensation expense	$3

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 2) (Long-term stock awards, USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Long-term stock awards
Unvested stock award shares
Balance at the beginning of the period (in shares)	6,000,000	8,000,000
Granted (in shares)	675,040	1,000,000
Vested (in shares)	2,000,000	2,000,000
Balance at the end of the period (in shares)	5,000,000	7,000,000
Weighted average grant date fair value
Balance at the beginning of the period (in dollars per share)	$18	$17
Granted (in dollars per share)	$26	$22
Vested (in dollars per share)	$17	$17
Forfeited (in dollars per share)	$19	$18
Balance at the end of the period (in dollars per share)	$19	$18
Additional disclosures
Total unrecognized compensation expense	$68	$94
Remaining weighted average vesting period	3 years	4 years
Total market value (at the vesting date) of stock award shares	$48	$45

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 3) (Stock Options, USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Stock Options
Stock Options
Vesting period	5 years
Expiration period	10 years
Shares
Outstanding at the beginning of the period (in shares)	18,000,000	24,000,000
Granted (in shares)	452,380
Exercised (in shares)	1,000,000	1,000,000
Forfeited (in shares)	136,040
Outstanding at the end of the period (in shares)	17,000,000	23,000,000
Option shares vested and expected to vest at the end of the period	17,000,000	23,000,000
Option shares exercisable at the end of the period	15,000,000	20,000,000
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$21	$22
Granted (in dollars per share)	$26	$22
Exercised (in dollars per share)	$14	$16
Forfeited (in dollars per share)	$22	$27
Outstanding at the end of the period (in dollars per share)	$22	$22
Option shares vested and expected to vest at the end of the period (in dollars per share)	$22	$22
Option shares exercisable at the end of the period (in dollars per share)	$22	$23
Aggregate intrinsic value
Exercised	$17	$10
Option shares vested and expected to vest at the end of the period	108	93
Option shares exercisable at the end of the period	94	72
Weighted average remaining option term
Outstanding at the end of the period	3 years	4 years
Option shares vested and expected to vest at the end of the period	3 years	4 years
Option shares exercisable at the end of the period	3 years	3 years
Additional disclosures
Total unrecognized compensation expense	$9	$11
Weighted average remaining vesting period	3 years	3 years

StockBased_Compensation_Detail3

Stock-Based Compensation (Details 4) (Stock Options, USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock Options
Stock Options
Weighted average grant date fair value (in dollars per share)	$9.67	$9.53
Risk-free interest rate (as a percent)	1.75%	1.91%
Dividend yield (as a percent)	1.32%	1.34%
Volatility factor (as a percent)	42.00%	49.00%
Expected option life	6 years	6 years

Employee_Retirement_Plans_Deta

Employee Retirement Plans (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net periodic pension cost for the company's defined-benefit pension plans
Number of regional multi-employer pension plans in which the entity participates	21
Qualified
Net periodic pension cost for the company's defined-benefit pension plans
Service cost	$1	$1
Interest cost	12	13
Expected return on plan assets	-11	-12
Amortization of net loss	4	3
Net periodic pension cost	6	5
Non-Qualified
Net periodic pension cost for the company's defined-benefit pension plans
Interest cost	1	2
Amortization of net loss	1
Net periodic pension cost	$2	$2

Reclassifications_From_Accumul2

Reclassifications From Accumulated OCI (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Reclassifications from accumulated other comprehensive (loss) income
Selling, general and administrative expenses	$397	$395
Tax (benefit) expense	43	5
Net of tax	64	74
Actuarial losses, net | Amount Reclassified
Reclassifications from accumulated other comprehensive (loss) income
Selling, general and administrative expenses	5	3
Tax (benefit) expense	-1
Interest rate swaps. | Amount Reclassified
Reclassifications from accumulated other comprehensive (loss) income
Net of tax	$4	$3

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Information
Net Sales	$2,018	$1,965
Operating Profit (Loss)	171	152
Other income (expense), net	-55	-59
Income from continuing operations before income taxes	116	93
North America
Segment Information
Net Sales	1,641	1,556
International, principally Europe
Segment Information
Net Sales	377	409
Cabinets and Related Products
Segment Information
Net Sales	249	237
Plumbing Products
Segment Information
Net Sales	796	800
Installation and Other Services
Segment Information
Net Sales	359	335
Decorative Architectural Products
Segment Information
Net Sales	451	441
Other Specialty Products
Segment Information
Net Sales	163	152
Operating Segments
Segment Information
Operating Profit (Loss)	203	184
Operating Segments | Cabinets and Related Products
Segment Information
Operating Profit (Loss)	-4	-12
Operating Segments | Plumbing Products
Segment Information
Operating Profit (Loss)	111	119
Operating Segments | Installation and Other Services
Segment Information
Operating Profit (Loss)	7	-4
Operating Segments | Decorative Architectural Products
Segment Information
Operating Profit (Loss)	83	76
Operating Segments | Other Specialty Products
Segment Information
Operating Profit (Loss)	6	5
Corporate
Segment Information
General corporate expense, net	-32	-32
Geographic Areas
Segment Information
Operating Profit (Loss)	203	184
Geographic Areas | North America
Segment Information
Operating Profit (Loss)	158	129
Geographic Areas | International, principally Europe
Segment Information
Operating Profit (Loss)	$45	$55

Severance_Costs_Details

Severance Costs (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Severance Costs.
Severance costs	$6	$2

Other_Income_Expense_Net_Detai

Other Income (Expense), Net (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Other Income (Expense), Net
Income from cash and cash investments		$1
Income (loss) from financial investments (Note F)	2	-1
Foreign currency transaction losses	-1	-2
Other items, net		-1
Total other, net	$1	($3)

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Numerator (basic and diluted):
Income from continuing operations	$64	$76
Less: Allocation to unvested restricted stock awards	1	1
Income from continuing operations available to common shareholders	63	75
Loss from discontinued operations		-2
Loss from discontinued operations available to common shareholders		-2
Net income available to common shareholders	$63	$73
Denominator:
Basic common shares (based upon weighted average) (in shares)	344	351
Add:
Stock option dilution (in shares)	3	3
Diluted common shares (in shares)	347	354

Earnings_Per_Common_Share_Deta1

Earnings Per Common Share (Details 2) (USD $)	3 Months Ended		1 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2015
Antidilutive securities excluded from computation of earnings per share
Repurchase and retirement of common stock cash aggregate to offset the dilutive effect	$103	$39
Total consideration for repurchase of common stock including unpaid cash	106
Repurchase and retirement of common stock (in shares)	4,100,000
Remaining number of shares authorized to be repurchased	40,900,000
Dividends
Cash dividends per common share paid (in dollars per share)	$0.09	$0.08
Cash dividends per common share declared (in dollars per share)	$0.09	$0.08
Subsequent Event
Antidilutive securities excluded from computation of earnings per share
Repurchase and retirement of common stock cash aggregate to offset the dilutive effect			$3
Stock Options
Antidilutive securities excluded from computation of earnings per share
Antidilutive effect on computation of diluted earnings per common share (in shares)	8,000,000	11,000,000
Long-term stock awards
Antidilutive securities excluded from computation of earnings per share
Repurchase and retirement of common stock to offset the dilutive impact of stock awards (in shares)	675,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Effective tax rate (as a percent)	37.00%	5.00%
Reasonably possible reduction in the liability for uncertain tax positions	$27
State
Income tax benefit on uncertain tax positions, expiration of statutes of limitations and settlements on audits	$3	15