Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | B. Pay Versus Performance Disclosure Pay Versus Performance Table Compensation Year Summary Total for PEO(1) Compensation Actually Paid to PEO(3) Average Summary Total for Non-PEO NEOs(2) Average Compensation Actually Paid to Non- Value of Initial Fixed $100 Investment Based On: Net Income (millions) Sales (millions)(5) Company Peer Group 2023 $11,029,086 $22,371,211 $2,838,076 $4,772,495 $202.83 $143.54 $767.4 $4,582 2022 $11,517,926 $10,823,977 $2,786,754 $2,483,408 $151.07 $123.28 $924.0 $6,580 2021 $11,042,404 $33,205,939 $3,100,858 $7,168,251 $157.49 $141.80 $421.7 $4,633 2020 $7,941,583 $6,705,688 $2,124,561 $1,872,231 $98.04 $113.66 $320.1 $4,235 (1) D. Christian Koch, the Company’s Chair, President and Chief Executive Officer, served as the Company’s principal executive officer for each of 2023, 2022, 2021 and 2020. (2) The Company’s non-PEO (3) The adjustments made to the Summary Compensation Table totals to determine “compensation actually paid” are as follows: Year Executive(s) Reported Deduct Equity Award Reported Pension Benefit Compensation 2023 PEO $11,029,086 ($8,480,404 ) $20,080,891 ($365,745 ) $107,383 $22,371,211 Non-PEO NEOs $2,838,076 ($1,540,626 ) $3,630,650 ($189,312 ) $33,708 $4,772,495 2022 PEO $11,517,926 ($6,787,175 ) $6,104,110 ($75,611 ) $64,727 $10,823,977 Non-PEO NEOs $2,786,754 ($1,308,873 ) $1,029,556 ($54,329 ) $30,300 $2,483,408 2021 PEO $11,042,404 ($6,455,332 ) $28,573,007 ($47,032 ) $92,892 $33,205,939 Non-PEO NEOs $3,100,858 ($1,572,987 ) $5,658,020 ($61,116 ) $43,476 $7,168,251 2020 PEO $7,941,583 ($6,125,159 ) $5,076,183 ($258,649 ) $71,730 $6,705,688 Non-PEO NEOs $2,124,561 ($1,161,541 ) $1,011,797 ($141,714 ) $39,128 $1,872,231 (a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns of the Summary Compensation Table for the applicable year. (b) The amounts deducted or added in calculating the equity award adjustments are as follows: Year Executive(s) Year-End Fair Value of Equity Awards Granted during the Year that are Outstanding and Unvested at Year-End Year-over- Year Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested at Year-End Fair Value as Year-over- Deduct Fair Prior Year of Value of Paid on Stock or Option Awards not Fair Value or Total Total Equity 2023 PEO $11,335,023 $7,797,080 $0 $948,788 $0 $0 $20,080,891 Non-PEO NEOs $2,045,396 $1,477,011 $0 $108,243 $0 $0 $3,630,650 2022 PEO $7,981,469 ($201,605) $0 ($1,675,754) $0 $0 $6,104,110 Non-PEO NEOs $1,394,035 ($16,938) $74,075 ($205,958) ($215,658) $0 $1,029,556 2021 PEO $15,123,725 $13,629,666 $0 ($170,385) $0 $0 $28,573,007 Non-PEO NEOs $3,439,853 $2,244,496 $0 ($26,328) $0 $0 $5,658,020 2020 PEO $5,943,401 ($843,643) $0 ($23,575) $0 $0 $5,076,183 Non-PEO NEOs $1,061,684 ($109,159) $65,890 ($6,618) $0 $0 $1,011,797 (c) The amounts included in this column are the amounts reported in “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column of the Summary Compensation Table for each applicable year. (d) The amounts deducted or added in calculating the pension benefit adjustments Year Executive(s) Service Cost Prior Service Cost Total Pension Benefit Adjustments 2023 PEO $107,383 $0 $107,383 Non-PEO NEOs $33,708 $0 $33,708 2022 PEO $64,727 $0 $64,727 Non-PEO $29,952 $349 $30,300 2021 PEO $92,892 $0 $92,892 Non-PEO $43,476 $0 $43,476 2020 PEO $71,730 $0 $71,730 Non-PEO $39,128 $0 $39,128 (4) The peer group TSR represents the TSR of the companies comprising the S&P MidCap 400 Index ® 10-K (5) This column includes the Company’s publicly reported sales for each of 2023, 2022, 2021 and 2020, excluding sales generated by acquisitions made, dispositions completed and operations reclassified as discontinued operations during the applicable year. | | | |
Company Selected Measure Name | sales | | | |
Named Executive Officers, Footnote | (2) The Company’s non-PEO | | | |
Peer Group Issuers, Footnote | The peer group TSR represents the TSR of the companies comprising the S&P MidCap 400 Index ® 10-K | | | |
PEO Total Compensation Amount | $ 11,029,086 | $ 11,517,926 | $ 11,042,404 | $ 7,941,583 |
PEO Actually Paid Compensation Amount | $ 22,371,211 | 10,823,977 | 33,205,939 | 6,705,688 |
Adjustment To PEO Compensation, Footnote | (3) The adjustments made to the Summary Compensation Table totals to determine “compensation actually paid” are as follows: Year Executive(s) Reported Deduct Equity Award Reported Pension Benefit Compensation 2023 PEO $11,029,086 ($8,480,404 ) $20,080,891 ($365,745 ) $107,383 $22,371,211 Non-PEO NEOs $2,838,076 ($1,540,626 ) $3,630,650 ($189,312 ) $33,708 $4,772,495 2022 PEO $11,517,926 ($6,787,175 ) $6,104,110 ($75,611 ) $64,727 $10,823,977 Non-PEO NEOs $2,786,754 ($1,308,873 ) $1,029,556 ($54,329 ) $30,300 $2,483,408 2021 PEO $11,042,404 ($6,455,332 ) $28,573,007 ($47,032 ) $92,892 $33,205,939 Non-PEO NEOs $3,100,858 ($1,572,987 ) $5,658,020 ($61,116 ) $43,476 $7,168,251 2020 PEO $7,941,583 ($6,125,159 ) $5,076,183 ($258,649 ) $71,730 $6,705,688 Non-PEO NEOs $2,124,561 ($1,161,541 ) $1,011,797 ($141,714 ) $39,128 $1,872,231 (a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns of the Summary Compensation Table for the applicable year. (b) The amounts deducted or added in calculating the equity award adjustments are as follows: Year Executive(s) Year-End Fair Value of Equity Awards Granted during the Year that are Outstanding and Unvested at Year-End Year-over- Year Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested at Year-End Fair Value as Year-over- Deduct Fair Prior Year of Value of Paid on Stock or Option Awards not Fair Value or Total Total Equity 2023 PEO $11,335,023 $7,797,080 $0 $948,788 $0 $0 $20,080,891 Non-PEO NEOs $2,045,396 $1,477,011 $0 $108,243 $0 $0 $3,630,650 2022 PEO $7,981,469 ($201,605) $0 ($1,675,754) $0 $0 $6,104,110 Non-PEO NEOs $1,394,035 ($16,938) $74,075 ($205,958) ($215,658) $0 $1,029,556 2021 PEO $15,123,725 $13,629,666 $0 ($170,385) $0 $0 $28,573,007 Non-PEO NEOs $3,439,853 $2,244,496 $0 ($26,328) $0 $0 $5,658,020 2020 PEO $5,943,401 ($843,643) $0 ($23,575) $0 $0 $5,076,183 Non-PEO NEOs $1,061,684 ($109,159) $65,890 ($6,618) $0 $0 $1,011,797 (c) The amounts included in this column are the amounts reported in “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column of the Summary Compensation Table for each applicable year. (d) The amounts deducted or added in calculating the pension benefit adjustments Year Executive(s) Service Cost Prior Service Cost Total Pension Benefit Adjustments 2023 PEO $107,383 $0 $107,383 Non-PEO NEOs $33,708 $0 $33,708 2022 PEO $64,727 $0 $64,727 Non-PEO $29,952 $349 $30,300 2021 PEO $92,892 $0 $92,892 Non-PEO $43,476 $0 $43,476 2020 PEO $71,730 $0 $71,730 Non-PEO $39,128 $0 $39,128 | | | |
Non-PEO NEO Average Total Compensation Amount | $ 2,838,076 | 2,786,754 | 3,100,858 | 2,124,561 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 4,772,495 | 2,483,408 | 7,168,251 | 1,872,231 |
Adjustment to Non-PEO NEO Compensation Footnote | (3) The adjustments made to the Summary Compensation Table totals to determine “compensation actually paid” are as follows: Year Executive(s) Reported Deduct Equity Award Reported Pension Benefit Compensation 2023 PEO $11,029,086 ($8,480,404 ) $20,080,891 ($365,745 ) $107,383 $22,371,211 Non-PEO NEOs $2,838,076 ($1,540,626 ) $3,630,650 ($189,312 ) $33,708 $4,772,495 2022 PEO $11,517,926 ($6,787,175 ) $6,104,110 ($75,611 ) $64,727 $10,823,977 Non-PEO NEOs $2,786,754 ($1,308,873 ) $1,029,556 ($54,329 ) $30,300 $2,483,408 2021 PEO $11,042,404 ($6,455,332 ) $28,573,007 ($47,032 ) $92,892 $33,205,939 Non-PEO NEOs $3,100,858 ($1,572,987 ) $5,658,020 ($61,116 ) $43,476 $7,168,251 2020 PEO $7,941,583 ($6,125,159 ) $5,076,183 ($258,649 ) $71,730 $6,705,688 Non-PEO NEOs $2,124,561 ($1,161,541 ) $1,011,797 ($141,714 ) $39,128 $1,872,231 (a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns of the Summary Compensation Table for the applicable year. (b) The amounts deducted or added in calculating the equity award adjustments are as follows: Year Executive(s) Year-End Fair Value of Equity Awards Granted during the Year that are Outstanding and Unvested at Year-End Year-over- Year Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested at Year-End Fair Value as Year-over- Deduct Fair Prior Year of Value of Paid on Stock or Option Awards not Fair Value or Total Total Equity 2023 PEO $11,335,023 $7,797,080 $0 $948,788 $0 $0 $20,080,891 Non-PEO NEOs $2,045,396 $1,477,011 $0 $108,243 $0 $0 $3,630,650 2022 PEO $7,981,469 ($201,605) $0 ($1,675,754) $0 $0 $6,104,110 Non-PEO NEOs $1,394,035 ($16,938) $74,075 ($205,958) ($215,658) $0 $1,029,556 2021 PEO $15,123,725 $13,629,666 $0 ($170,385) $0 $0 $28,573,007 Non-PEO NEOs $3,439,853 $2,244,496 $0 ($26,328) $0 $0 $5,658,020 2020 PEO $5,943,401 ($843,643) $0 ($23,575) $0 $0 $5,076,183 Non-PEO NEOs $1,061,684 ($109,159) $65,890 ($6,618) $0 $0 $1,011,797 (c) The amounts included in this column are the amounts reported in “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column of the Summary Compensation Table for each applicable year. (d) The amounts deducted or added in calculating the pension benefit adjustments Year Executive(s) Service Cost Prior Service Cost Total Pension Benefit Adjustments 2023 PEO $107,383 $0 $107,383 Non-PEO NEOs $33,708 $0 $33,708 2022 PEO $64,727 $0 $64,727 Non-PEO $29,952 $349 $30,300 2021 PEO $92,892 $0 $92,892 Non-PEO $43,476 $0 $43,476 2020 PEO $71,730 $0 $71,730 Non-PEO $39,128 $0 $39,128 | | | |
Compensation Actually Paid vs. Total Shareholder Return | Compensation Actually Paid, Company TSR and Peer Group TSR. ® ® | | | |
Compensation Actually Paid vs. Net Income | Compensation Actually Paid and Net Income. | | | |
Compensation Actually Paid vs. Company Selected Measure | Compensation Actually Paid and Sales. | | | |
Total Shareholder Return Vs Peer Group | Compensation Actually Paid, Company TSR and Peer Group TSR. ® ® | | | |
Tabular List, Table | Financial Performance Measures As described in more detail in the “Compensation Discussion and Analysis” section of this Proxy Statement, the Company believes that its executive compensation program links pay and performance, with the Company’s named executives having the opportunity to earn substantial compensation over and above their base salaries based on the Company’s performance and the market value of the Shares. The Company uses several performance measures to evaluate performance and provide alignment between performance and executive pay. As required by SEC rules, the performance measures identified as the most important for named executive officers’ 2023 compensation decisions are as follows: • Sales • Operating Income Margin • Average Working Capital as a Percentage of Sales • Adjusted Earnings | | | |
Total Shareholder Return Amount | $ 202.83 | 151.07 | 157.49 | 98.04 |
Peer Group Total Shareholder Return Amount | 143.54 | 123.28 | 141.8 | 113.66 |
Net Income (Loss) | $ 767,400,000 | $ 924,000,000 | $ 421,700,000 | $ 320,100,000 |
Company Selected Measure Amount | 4,582,000,000 | 6,580,000,000 | 4,633,000,000 | 4,235,000,000 |
PEO Name | D. Christian Koch | | | |
Measure:: 1 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Sales | | | |
Measure:: 2 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Operating Income Margin | | | |
Measure:: 3 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Average Working Capital as a Percentage of Sales | | | |
Measure:: 4 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Adjusted Earnings | | | |
PEO | Deduct Reported Value of Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (8,480,404) | $ (6,787,175) | $ (6,455,332) | $ (6,125,159) |
PEO | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 20,080,891 | 6,104,110 | 28,573,007 | 5,076,183 |
PEO | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (365,745) | (75,611) | (47,032) | (258,649) |
PEO | Pension Benefit Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 107,383 | 64,727 | 92,892 | 71,730 |
PEO | Year End Fair Value of Equity Awards Granted during the Year that are Outstanding and Unvested at Year End [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 11,335,023 | 7,981,469 | 15,123,725 | 5,943,401 |
PEO | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested at Year End [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 7,797,080 | (201,605) | 13,629,666 | (843,643) |
PEO | Fair Value as of Vesting Date of Equity Awards Granted and Vested during the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 0 | 0 | 0 |
PEO | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested during the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 948,788 | (1,675,754) | (170,385) | (23,575) |
PEO | Deduct Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions during the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 0 | 0 | 0 |
PEO | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 0 | 0 | 0 |
PEO | Service Cost [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 107,383 | 64,727 | 92,892 | 71,730 |
PEO | Prior Service Cost [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 0 | 0 | 0 |
Non-PEO NEO | Deduct Reported Value of Equity Awards [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (1,540,626) | (1,308,873) | (1,572,987) | (1,161,541) |
Non-PEO NEO | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 3,630,650 | 1,029,556 | 5,658,020 | 1,011,797 |
Non-PEO NEO | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (189,312) | (54,329) | (61,116) | (141,714) |
Non-PEO NEO | Pension Benefit Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 33,708 | 30,300 | 43,476 | 39,128 |
Non-PEO NEO | Year End Fair Value of Equity Awards Granted during the Year that are Outstanding and Unvested at Year End [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 2,045,396 | 1,394,035 | 3,439,853 | 1,061,684 |
Non-PEO NEO | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested at Year End [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 1,477,011 | (16,938) | 2,244,496 | (109,159) |
Non-PEO NEO | Fair Value as of Vesting Date of Equity Awards Granted and Vested during the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 74,075 | 0 | 65,890 |
Non-PEO NEO | Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested during the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 108,243 | (205,958) | (26,328) | (6,618) |
Non-PEO NEO | Deduct Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions during the Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | (215,658) | 0 | 0 |
Non-PEO NEO | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | 0 | 0 | 0 |
Non-PEO NEO | Service Cost [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 33,708 | 29,952 | 43,476 | 39,128 |
Non-PEO NEO | Prior Service Cost [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ 0 | $ 349 | $ 0 | $ 0 |