Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | MOHAWK INDUSTRIES, INC. |
Entity Central Index Key | 0000851968 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure Unit_pure in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance As required by Item 402(v) of Regulation S-K, information each Year SCT Total (1) Compensation (2) Average for non-PEO (1) Average to non-PEO (2) Value of Initial Fixed $100 Net Income (5) Adjusted EPS (6) TSR (3) Peer Group (3) (4) 2022 4,259,954 2,404,723 2,290,221 724,896 74.95 151.52 $ 25.2 $ 12.85 2021 5,190,696 6,087,743 3,148,501 3,608,823 133.58 196.28 $ 1,033.2 $ 14.86 2020 3,636,376 3,695,354 2,287,047 1,944,389 103.35 122.96 $ 515.6 $ 8.83 (1) The PEO and the non-PEO a. 2022: Jeffrey S. Lorberbaum, PEO; W. Christopher Wellborn, James F. Brunk, Bernard P. Thiers and Paul F. De Cock, non-PEO NEOs. b. 2021: Jeffrey S. Lorberbaum, PEO; W. Christopher Wellborn, James F. Brunk, Bernard P. Thiers, Paul F. De Cock and Frank H. Boykin, non-PEO NEOs. Mr. Boykin served the Company as Chief Financial Officer through April 1, 2021. Mr. Boykin did not receive an equity award in 2021. c. 2020: Jeffrey S. Lorberbaum, PEO; W. Christopher Wellborn, James F. Brunk, Bernard P. Thiers, Paul F. De Cock, Frank H. Boykin and Glenn R. Landau, non-PEO NEOs. Mr. Landau resigned as Executive Vice President and Chief Financial Officer of the Company in April 2020. Pursuant to the terms of his separation agreement with the Company, Mr. Landau received a payment equal to nine months cash compensation and the continued vesting of 1,878 shares of restricted stock. Mr. Landau did not otherwise receive compensation from the Company after his departure from the Company in 2020. Mr. Boykin had previously served as the Company’s Chief Financial Officer through his retirement on March 31, 2019, and continued to serve as a consultant to the Company following his retirement in March 2019 and until his appointment as Chief Financial Officer on April 15, 2020. Mr. Boykin did not receive an equity award in 2020. (2) The CAP was calculated beginning with the PEO’s SCT total and the non-PEO NEO’s average SCT total for each respective year. The table below describes the adjustments, each of which is required EXECUTIVE COMPENSATION 2022 2021 2020 Adjustments PEO non-PEO PEO non-PEO PEO non-PEO SCT Total $ 4,259,954 2,290,221 $ 5,190,696 3,148,501 $ 3,636,376 2,287,047 Adjustments for stock awards (Deduct): Aggregate value for stock awards included in SCT Total for the covered fiscal year (2,055,992 ) (1,056,428 ) (1,901,669 ) (1,594,926 ) (1,364,847 ) (664,280 ) Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end 1,530,131 786,225 1,971,916 1,594,330 1,561,867 624,831 Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end (872,284 ) (1,035,142 ) 423,886 268,176 44,064 30,128 Add: Vesting date fair value of awards granted and vested during the covered fiscal year 0 0 0 0 0 0 Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year (457,087 ) (259,980 ) 402,914 192,742 (182,106 ) (77,216 ) (Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year 0 0 0 0 0 (256,122 ) Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year 0 0 0 0 0 0 CAP Amounts (as calculated) 2,404,723 724,896 6,087,743 3,608,823 3,695,354 1,944,389 * Amounts presented are averages for the entire group of non-PEO (3) The values disclosed in these TSR columns represent the measurement period value of an investment of $100 made on January 1, 2020 as of December 31, 2020, and then valued again on each of December 31, 2021 and December 31, 2022. (4) The peer group used for purposes of this disclosure is our proxy-disclosed peer group used for compensation benchmarking practices. Please refer to the “ Compensation Discussion & Analysis (5) Net earnings attributable to Mohawk Industries, Inc. as reported in our Consolidated Statements of Operations included in our Form 10-K. (6) Please see Annex A Non-GAAP | ||
Company Selected Measure Name | Adjusted EPS | ||
Named Executive Officers, Footnote [Text Block] | Jeffrey S. Lorberbaum, PEO; W. Christopher Wellborn, James F. Brunk, Bernard P. Thiers and Paul F. De Cock, | Jeffrey S. Lorberbaum, PEO; W. Christopher Wellborn, James F. Brunk, Bernard P. Thiers, Paul F. De Cock and Frank H. Boykin | Jeffrey S. Lorberbaum, PEO; W. Christopher Wellborn, James F. Brunk, Bernard P. Thiers, Paul F. De Cock, Frank H. Boykin and Glenn R. Landau |
Peer Group Issuers, Footnote [Text Block] | The peer group used for purposes of this disclosure is our proxy-disclosed peer group used for compensation benchmarking practices. Please refer to the “ Compensation Discussion & Analysis | ||
PEO Total Compensation Amount | $ 4,259,954 | $ 5,190,696 | $ 3,636,376 |
PEO Actually Paid Compensation Amount | $ 2,404,723 | 6,087,743 | 3,695,354 |
Adjustment To PEO Compensation, Footnote [Text Block] | 2022 2021 2020 Adjustments PEO non-PEO PEO non-PEO PEO non-PEO SCT Total $ 4,259,954 2,290,221 $ 5,190,696 3,148,501 $ 3,636,376 2,287,047 Adjustments for stock awards (Deduct): Aggregate value for stock awards included in SCT Total for the covered fiscal year (2,055,992 ) (1,056,428 ) (1,901,669 ) (1,594,926 ) (1,364,847 ) (664,280 ) Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end 1,530,131 786,225 1,971,916 1,594,330 1,561,867 624,831 Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end (872,284 ) (1,035,142 ) 423,886 268,176 44,064 30,128 Add: Vesting date fair value of awards granted and vested during the covered fiscal year 0 0 0 0 0 0 Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year (457,087 ) (259,980 ) 402,914 192,742 (182,106 ) (77,216 ) (Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year 0 0 0 0 0 (256,122 ) Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year 0 0 0 0 0 0 CAP Amounts (as calculated) 2,404,723 724,896 6,087,743 3,608,823 3,695,354 1,944,389 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,290,221 | 3,148,501 | 2,287,047 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 724,896 | 3,608,823 | 1,944,389 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | 2022 2021 2020 Adjustments PEO non-PEO PEO non-PEO PEO non-PEO SCT Total $ 4,259,954 2,290,221 $ 5,190,696 3,148,501 $ 3,636,376 2,287,047 Adjustments for stock awards (Deduct): Aggregate value for stock awards included in SCT Total for the covered fiscal year (2,055,992 ) (1,056,428 ) (1,901,669 ) (1,594,926 ) (1,364,847 ) (664,280 ) Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end 1,530,131 786,225 1,971,916 1,594,330 1,561,867 624,831 Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end (872,284 ) (1,035,142 ) 423,886 268,176 44,064 30,128 Add: Vesting date fair value of awards granted and vested during the covered fiscal year 0 0 0 0 0 0 Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year (457,087 ) (259,980 ) 402,914 192,742 (182,106 ) (77,216 ) (Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year 0 0 0 0 0 (256,122 ) Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year 0 0 0 0 0 0 CAP Amounts (as calculated) 2,404,723 724,896 6,087,743 3,608,823 3,695,354 1,944,389 | ||
Tabular List [Table Text Block] | Required Tabular Disclosure of Most Important Measures to Determine 2022 CAP • Adjusted EPS • Total Stockholder Return (TSR) as compared to the S&P 500 • Adjusted Operating Income | ||
Total Shareholder Return Amount | $ 74.95 | 133.58 | 103.35 |
Peer Group Total Shareholder Return Amount | 151.52 | 196.28 | 122.96 |
Net Income (Loss) | $ 25,200,000 | $ 1,033,200,000 | $ 515,600,000 |
Company Selected Measure Amount | 12,850 | 14,860 | 8,830 |
PEO Name | Jeffrey S. Lorberbaum | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EPS | ||
Non-GAAP Measure Description [Text Block] | Please see Annex A Non-GAAP | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Stockholder Return (TSR) as compared to the S&P 500 | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Operating Income | ||
PEO [Member] | Aggregate value for stock awards included in SCT Total for the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (2,055,992) | $ (1,901,669) | $ (1,364,847) |
PEO [Member] | Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,530,131 | 1,971,916 | 1,561,867 |
PEO [Member] | Yearoveryear change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (872,284) | 423,886 | 44,064 |
PEO [Member] | Vesting date fair value of awards granted and vested during the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (457,087) | 402,914 | (182,106) |
PEO [Member] | Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Aggregate value for stock awards included in SCT Total for the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,056,428) | (1,594,926) | (664,280) |
Non-PEO NEO [Member] | Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 786,225 | 1,594,330 | 624,831 |
Non-PEO NEO [Member] | Yearoveryear change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,035,142) | 268,176 | 30,128 |
Non-PEO NEO [Member] | Vesting date fair value of awards granted and vested during the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (259,980) | 192,742 | (77,216) |
Non-PEO NEO [Member] | Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (256,122) |
Non-PEO NEO [Member] | Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 0 | $ 0 | $ 0 |