The Sherwin-Williams Company (SHW) 10-K 22 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Jan. 31, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	SHERWIN WILLIAMS CO
Entity Central Index Key	89,800
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 27,037,033,632
Entity Common Stock, Shares Outstanding		93,307,230

Statements of Consolidated Inco

Statements of Consolidated Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Income Statement [Abstract]
Net sales		$ 11,855,602		$ 11,339,304		$ 11,129,533
Cost of goods sold		5,933,337		5,780,078		5,965,049
Gross profit		$ 5,922,265		$ 5,559,226		$ 5,164,484
Percent to net sales		50.00%		49.00%		46.40%
Selling, general and administrative expenses		$ 4,159,435		$ 3,913,518		$ 3,822,966
Percent to net sales		35.10%		34.50%		34.30%
Other general expense - net		$ 12,368		$ 30,268		$ 37,482
Impairment of goodwill and trademarks		10,688
Interest expense	[1]	154,088		61,791		64,205
Interest and net investment income		(4,960)		(1,399)		(2,995)
Other (income) expense - net		(4,587)		6,082		(15,400)
Income before income taxes		1,595,233		1,548,966		1,258,226
Income taxes		462,530		495,117		392,339
Net income		$ 1,132,703	[2]	$ 1,053,849		$ 865,887
Net income per common share:
Basic (in dollars per share)	[3]	$ 12.33	[2],[4]	$ 11.43	[4]	$ 9
Diluted (in dollars per share)	[3]	$ 11.99	[2],[4]	$ 11.15	[4]	$ 8.77
[1]	Includes costs associated with the anticipated acquisition of Valspar totaling $72.8 million.
[2]	First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14.
[3]	Presented under the treasury stock method. See Note 15.
[4]	Presented under the treasury stock method. See Note 15.

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income		$ 1,132,703	[1]	$ 1,053,849	$ 865,887
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		(18,648)		(128,245)	(103,441)
Pension and other postretirement benefit adjustments:
Amounts recognized in Other comprehensive loss	[2]	(28,385)		7,974	(56,536)
Amounts reclassified from Other comprehensive loss	[3]	7,635		5,847	8,980
Pension and other postretirement benefits		(20,750)		13,821	(47,556)
Unrealized net gains (losses) on available-for-sale securities:
Amounts recognized in Other comprehensive loss	[4]	1,046		(1,191)	366
Amounts reclassified from Other comprehensive loss	[5]	89		478	(283)
Unrealized net gains (losses) on available-for-sale securities		1,135		(713)	83
Unrealized net gains on cash flow hedges:
Amounts recognized in Other comprehensive loss	[6]	85,007
Other comprehensive income (loss)		46,744		(115,137)	(150,914)
Comprehensive income		1,179,447		938,712	714,973
Net actuarial gains (losses) and prior service costs arising during period, tax		17,200		(3,399)	24,954
Amortization of net actuarial gains (losses) and prior service costs included in Net pension costs, tax		(4,691)		(1,647)	(2,712)
Unrealized holding gains (losses) arising during period, tax		(643)		736	(228)
Reclassification adjustments for losses (gains) included in net income, tax		(55)		$ (296)	$ 178
Unrealized holding losses on cash flow hedges, tax		$ (52,226)
[1]	First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14.
[2]	Net of taxes of $17,200, $(3,399) and $24,954, in 2016, 2015 and 2014, respectively.
[3]	Net of taxes of $(4,691), $(1,647) and $(2,712), in 2016, 2015 and 2014, respectively.
[4]	Net of taxes of $(643), $736 and $(228), in 2016, 2015 and 2014, respectively.
[5]	Net of taxes of $(55), $(296) and $178 in 2016, 2015 and 2014, respectively.
[6]	Net of taxes of $(52,226) in 2016.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 889,793		$ 205,744		$ 40,732
Accounts receivable, less allowance	1,230,987		1,114,275		1,130,565
Inventories:
Finished goods	898,627		840,603		841,784
Work in process and raw materials	169,699		177,927		191,743
Total inventory	1,068,326		1,018,530		1,033,527
Deferred income taxes	57,162		87,883		109,087
Other current assets	381,030		230,748		251,655
Total current assets	3,627,298		2,657,180		2,565,566
Goodwill	1,126,892	[1]	1,143,333	[2]	1,158,346	[2]
Intangible assets	255,010		255,371		289,127
Deferred pension assets	225,529		244,882		250,144
Other assets	421,904		436,309		415,120
Property, plant and equipment:
Land	115,555		119,530		125,691
Buildings	714,815		696,202		698,202
Machinery and equipment	2,153,437		2,026,617		1,952,037
Construction in progress	117,126		81,082		59,330
Total gross property, plant and equipment	3,100,933		2,923,431		2,835,260
Less allowances for depreciation	2,005,045		1,881,569		1,814,230
Total net property, plant and equipment	1,095,888		1,041,862		1,021,030
Total Assets	6,752,521		5,778,937		5,699,333
Current liabilities:
Short-term borrowings	40,739		39,462		679,436
Accounts payable	1,034,608		1,157,561		1,042,182
Compensation and taxes withheld	398,045		338,256		360,458
Accrued taxes	76,765		81,146		86,744
Current portion of long-term debt	700,475		3,154		3,265
Other accruals	578,547		522,280		508,581
Total current liabilities	2,829,179		2,141,859		2,680,666
Long-term debt	1,211,326		1,907,278	[3]	1,115,996	[3]
Postretirement benefits other than pensions	250,397		248,523		277,892
Other long-term liabilities	583,178		613,367		628,309
Shareholders’ equity:
Common stock - $1.00 par value: 93,103,031, 92,246,525, and 94,704,173 shares outstanding at December 31, 2015, 2014 and 2013, respectively	116,563		115,761		114,525
Other capital	2,488,564		2,330,426		2,079,639
Retained earnings	4,049,497		3,228,876		2,424,674
Treasury stock, at cost	(4,235,832)		(4,220,058)		(3,150,410)
Cumulative other comprehensive loss	(540,351)		(587,095)		(471,958)
Total shareholders’ equity	1,878,441		867,910		996,470
Total Liabilities and Shareholders’ Equity	$ 6,752,521		$ 5,778,937		$ 5,699,333
[1]	Net of accumulated impairment losses of $19,359 ($8,113 in the Consumer Group, $791 in the Global Finishes Group and $10,455 in the Latin America Coatings Group).
[2]	Net of accumulated impairment losses of $8,904 ($8,113 in the Consumer Group and $791 in the Global Finishes Group).
[3]	Revised due to the adoption of ASU No. 2015-03. See Note 1.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, shares outstanding (in shares)	93,013,031	92,246,525	94,704,173

Statements of Consolidated Cash

Statements of Consolidated Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES
Net income	$ 1,132,703	[1]	$ 1,053,849	$ 865,887
Adjustments to reconcile net income to net operating cash:
Depreciation	172,074		170,323	169,087
Amortization of intangible assets	25,637		28,239	29,858
Impairment of goodwill and trademarks	10,688
Amortization of credit facility and debt issuance costs	63,759		3,096	3,224
Provisions for environmental-related matters	42,932		31,071	36,046
Provisions for qualified exit costs	3,038		9,761	13,578
Deferred income taxes	(68,241)		4,976	(19,038)
Defined benefit pension plans net cost	14,851		6,491	990
Stock-based compensation expense	72,109		72,342	64,735
Net decrease in postretirement liability	(12,373)		(6,645)	(718)
Decrease in non-traded investments	64,689		65,144	63,365
(Gain) loss on sale or disposition of assets	(30,564)		(803)	1,436
Other	5,101		3,615	(3,021)
Change in working capital accounts:
(Increase) in accounts receivable	(113,855)		(56,873)	(80,252)
(Increase) in inventories	(52,577)		(40,733)	(101,112)
(Decrease) increase in accounts payable	(118,893)		160,111	78,603
(Decrease) increase in accrued taxes	(2,159)		4,606	13,187
Increase (decrease) in accrued compensation and taxes withheld	60,632		(13,128)	29,513
(Increase) decrease in refundable income taxes	(1,343)		19,230	(36,601)
Other	56,215		(955)	(20,029)
Costs incurred for environmental-related matters	(15,178)		(11,995)	(9,676)
Costs incurred for qualified exit costs	(6,267)		(11,200)	(10,882)
Other	5,594		(43,059)	(6,652)
Net operating cash	1,308,572		1,447,463	1,081,528
Investing Activities
Capital expenditures	(239,026)		(234,340)	(200,545)
Proceeds from sale of assets	38,434		11,300	1,516
Increase in other investments	(103,182)		(65,593)	(111,021)
Net investing cash	(303,774)		(288,633)	(310,050)
Financing Activities
Net (decrease) increase in short-term borrowings	(899)		(630,226)	591,423
Proceeds from long-term debt	500		797,514	1,474
Payments of long-term debt	(1,111)			(500,661)
Payments for credit facility and debt issuance costs	(65,119)
Payments of cash dividends	(312,082)		(249,647)	(215,263)
Proceeds from stock options exercised	86,831		89,990	100,069
Income tax effect of stock-based compensation exercises and vesting			89,691	68,657
Treasury stock purchased			(1,035,291)	(1,488,663)
Other	(15,473)		(42,384)	(24,111)
Net financing cash	(307,353)		(980,353)	(1,467,075)
Effect of exchange rate changes on cash	(13,396)		(13,465)	(8,560)
Net increase (decrease) in cash and cash equivalents	684,049		165,012	(704,157)
Cash and cash equivalents at beginning of year	205,744		40,732	744,889
Cash and cash equivalents at end of year	889,793		205,744	40,732
Taxes paid on income	477,786		335,119	310,039
Interest paid on debt	$ 153,850		$ 48,644	$ 67,306
[1]	First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14.

Statements of Consolidated Shar

Statements of Consolidated Shareholders' Equity - USD ($) $ in Thousands	Total		Common Stock [Member]	Preferred Stock [Member]	Unearned ESOP Compensation [Member]	Other Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Cumulative Other Comprehensive Loss [Member]
Beginning balance at Dec. 31, 2013	$ 1,774,535		$ 112,902	$ 40,406	$ (40,406)	$ 1,847,801	$ 1,774,050	$ (1,639,174)	$ (321,044)
Shareholders' Equity [Roll Forward]
Net income	865,887						865,887
Other comprehensive income (loss)	(150,914)								(150,914)
Treasury stock purchased	(1,488,663)							(1,488,663)
Redemption of preferred stock				(40,406)	40,406
Stock options exercised	77,496		1,423			98,646		(22,573)
Income tax effect of stock compensation	68,657					68,657
Restricted stock and stock option grants (net activity)	64,735		200			64,535
Cash dividends -- $3.36, $2.68 and $2.20 per common share in December 31, 2016, 2015 and 2014, respectively	(215,263)						(215,263)
Ending balance at Dec. 31, 2014	996,470		114,525	0	0	2,079,639	2,424,674	(3,150,410)	(471,958)
Shareholders' Equity [Roll Forward]
Net income	1,053,849						1,053,849
Other comprehensive income (loss)	(115,137)								(115,137)
Treasury stock purchased	(1,035,291)							(1,035,291)
Stock options exercised	55,633		1,134			88,856		(34,357)
Income tax effect of stock compensation	89,691					89,691
Restricted stock and stock option grants (net activity)	72,342		102			72,240
Cash dividends -- $3.36, $2.68 and $2.20 per common share in December 31, 2016, 2015 and 2014, respectively	(249,647)						(249,647)
Ending balance at Dec. 31, 2015	867,910		115,761	0	0	2,330,426	3,228,876	(4,220,058)	(587,095)
Shareholders' Equity [Roll Forward]
Net income	1,132,703	[1]					1,132,703
Other comprehensive income (loss)	46,744								46,744
Stock options exercised	71,057		706			86,125		(15,774)
Restricted stock and stock option grants (net activity)	72,109		96			72,013
Cash dividends -- $3.36, $2.68 and $2.20 per common share in December 31, 2016, 2015 and 2014, respectively	(312,082)						(312,082)
Ending balance at Dec. 31, 2016	$ 1,878,441		$ 116,563	$ 0	$ 0	$ 2,488,564	$ 4,049,497	$ (4,235,832)	$ (540,351)
[1]	First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14.

Statements of Consolidated Sha8

Statements of Consolidated Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Cash dividends paid (in dollars per share)	$ 3.36	$ 2.68	$ 2.20

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Consolidation. The consolidated financial statements include the accounts of The Sherwin-Williams Company and its wholly owned subsidiaries (collectively, “the Company”). Inter-company accounts and transactions have been eliminated. Use of estimates. The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those amounts. Nature of operations. The Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America, with additional operations in the Caribbean region, Europe and Asia. Reportable segments. See Note 18 for further details. Cash flows. Management considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Fair value of financial instruments. The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Cash and cash equivalents: The carrying amounts reported for Cash and cash equivalents approximate fair value. Short-term investments: The carrying amounts reported for Short-term investments approximate fair value. Investments in securities: Investments classified as available-for-sale are carried at market value. See the recurring fair value measurement table on page 45 . Non-traded investments: The Company has investments in the U.S. affordable housing and historic renovation real estate markets and certain other investments that have been identified as variable interest entities. However, because the Company does not have the power to direct the day-to-day operations of the investments and the risk of loss is limited to the amount of contributed capital, the Company is not considered the primary beneficiary. In accordance with the Consolidation Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), the investments are not consolidated. For affordable housing investments entered into prior to the January 1, 2015 adoption of Accounting Standard Update (ASU) No. 2014-01, the Company uses the effective yield method to determine the carrying value of the investments. Under the effective yield method, the initial cost of the investments is amortized to income tax expense over the period that the tax credits are recognized. For affordable housing investments entered into on or after the January 1, 2015 adoption of ASU No. 2014-01, the Company uses the proportional amortization method. Under the proportional amortization method, the initial cost of the investments is amortized to income tax expense in proportion to the tax credits and other tax benefits received. The carrying amounts of the investments, included in Other assets, were $193,413 , $189,484 and $223,935 at December 31, 2016 , 2015 and 2014 , respectively. The liabilities recorded on the balance sheets for estimated future capital contributions to the investments were $178,584 , $172,899 and $198,776 at December 31, 2016 , 2015 and 2014 , respectively. Short-term borrowings: The carrying amounts reported for Short-term borrowings approximate fair value. Long-term debt (including current portion): The fair values of the Company’s publicly traded debt, shown below, are based on quoted market prices. The fair values of the Company’s non-traded debt, also shown below, are estimated using discounted cash flow analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The Company's publicly traded debt and non-traded debt are classified as level 1 and level 2, respectively, in the fair value hierarchy. See Note 7 . December 31, 2016 2015 2014 Carrying Fair Carrying Fair Carrying Fair Amount Value Amount (1) Value Amount (1) Value Publicly traded debt $ 1,907,704 $ 1,912,646 $ 1,905,650 $ 1,960,169 $ 1,114,205 $ 1,160,280 Non-traded debt 4,097 3,783 4,782 4,555 5,056 4,812 (1) Revised due to the adoption of ASU No. 2015-03. See Impact of recently issued accounting standards section. Derivative instruments: The Company utilizes derivative instruments as part of its overall financial risk management policy. The Company entered into foreign currency option and forward currency exchange contracts with maturity dates of less than twelve months in 2016, 2015, and 2014, primarily to hedge against value changes in foreign currency. See Note 13 . There were no material foreign currency option and forward contracts outstanding at December 31, 2016, 2015 and 2014. In 2016, the Company entered into a series of interest rate lock agreements which were designated as cash flow hedges. See Note 7. Fair value measurements. The following tables summarize the Company’s assets and liabilities measured on a recurring and non-recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC: Assets and Liabilities Reported at Fair Value on a Recurring Basis Fair Value at December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Deferred compensation plan asset (1) $ 27,452 $ 3,802 $ 23,650 Interest rate lock asset (2) 137,233 137,233 Total assets $ 164,685 $ 3,802 $ 160,883 Liabilities: Deferred compensation plan liability (3) $ 37,717 $ 37,717 (1) The deferred compensation plan asset consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plan, which is structured as a rabbi trust. The investments are marketable securities accounted for under the Debt and Equity Securities Topic of the ASC. The level 1 investments are valued using quoted market prices multiplied by the number of shares. The level 2 investments are valued based on vendor or broker models. The cost basis of the investment funds is $26,357 . (2) The interest rate lock asset is measured at the present value of the expected future cash flows using market-based observable inputs. See note 7. (3) The deferred compensation plan liability represents the value of the Company’s liability under its deferred compensation plan based on quoted market prices in active markets for identical assets. Assets and Liabilities Reported at Fair Value on a Nonrecurring Basis. As a result of the 2016 annual goodwill impairment test performed in accordance with the Intangibles Topic of the ASC, goodwill with a carrying value of $10,455 was written-off, resulting in an impairment charge of $10,455 . As a result of the 2016 annual trademark impairment test performed in accordance with the Intangibles Topic of the ASC, a trademark with a carrying value of $2,114 was written-down to its calculated fair value of $1,881 , resulting in an impairment charge of $233 . These fair value measurements qualify as level 2 measurements. See Note 4. Accounts receivable and allowance for doubtful accounts. Accounts receivable were recorded at the time of credit sales net of provisions for sales returns and allowances. The Company recorded an allowance for doubtful accounts of $40,450 , $49,420 and $53,770 at December 31, 2016 , 2015 and 2014 , respectively, to reduce Accounts receivable to their estimated net realizable value. The allowance was based on an analysis of historical bad debts, a review of the aging of Accounts receivable and the current creditworthiness of customers. Account receivable balances are written-off against the allowance if a final determination of uncollectibility is made. All provisions for allowances for doubtful collection of accounts are related to the creditworthiness of accounts and are included in Selling, general and administrative expenses. Reserve for obsolescence. The Company recorded a reserve for obsolescence of $87,715 , $91,217 and $90,712 at December 31, 2016 , 2015 and 2014 , respectively, to reduce Inventories to their estimated net realizable value. Goodwill. Goodwill represents the cost in excess of fair value of net assets acquired in business combinations accounted for by the purchase method. In accordance with the Intangibles Topic of the ASC, goodwill is tested for impairment on an annual basis and in between annual tests if events or circumstances indicate potential impairment. See Note 4 . Intangible assets. Intangible assets include trademarks, non-compete covenants and certain intangible property rights. As required by the Goodwill and Other Intangibles Topic of the ASC, indefinite-lived trademarks are not amortized, but instead are tested annually for impairment, and between annual tests whenever an event occurs or circumstances indicate potential impairment. See Note 4 . The cost of finite-lived trademarks, non-compete covenants and certain intangible property rights are amortized on a straight-line basis over the expected period of benefit as follows: Useful Life Finite-lived trademarks 5 years Non-compete covenants 3 – 5 years Certain intangible property rights 3 – 19 years Impairment of long-lived assets. In accordance with the Property, Plant and Equipment Topic of the ASC, management evaluates the recoverability and estimated remaining lives of long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. See Notes 4 and 5 . Property, plant and equipment. Property, plant and equipment is stated on the basis of cost. Depreciation is provided by the straight-line method. Depreciation and amortization are included in the appropriate Cost of goods sold or Selling, general and administrative expense caption on the Statements of Consolidated Income. Included in Property, plant and equipment are leasehold improvements. The major classes of assets and ranges of annual depreciation rates are: Buildings 4.0% – 20.0% Machinery and equipment 10.0% – 20.0% Furniture and fixtures 10.0% – 20.0% Automobiles and trucks 10.0% – 33.3% Standby letters of credit. The Company occasionally enters into standby letter of credit agreements to guarantee various operating activities. These agreements provide credit availability to the various beneficiaries if certain contractual events occur. Amounts outstanding under these agreements totaled $43,658 , $45,407 and $23,442 at December 31, 2016 , 2015 and 2014 , respectively. Product warranties. The Company offers product warranties for certain products. The specific terms and conditions of such warranties vary depending on the product or customer contract requirements. Management estimated the costs of unsettled product warranty claims based on historical results and experience and included an amount in Other accruals. Management periodically assesses the adequacy of the accrual for product warranty claims and adjusts the accrual as necessary. Changes in the Company’s accrual for product warranty claims during 2016 , 2015 and 2014 , including customer satisfaction settlements during the year, were as follows: 2016 2015 2014 Balance at January 1 $ 31,878 $ 27,723 $ 26,755 Charges to expense 38,954 43,484 37,879 Settlements (36,413 ) (39,329 ) (36,911 ) Balance at December 31 $ 34,419 $ 31,878 $ 27,723 Environmental matters. Capital expenditures for ongoing environmental compliance measures were recorded in Property, plant and equipment, and related expenses were included in the normal operating expenses of conducting business. The Company is involved with environmental investigation and remediation activities at some of its currently and formerly owned sites and at a number of third-party sites. The Company accrued for environmental-related activities for which commitments or clean-up plans have been developed and when such costs could be reasonably estimated based on industry standards and professional judgment. All accrued amounts were recorded on an undiscounted basis. Environmental-related expenses included direct costs of investigation and remediation and indirect costs such as compensation and benefits for employees directly involved in the investigation and remediation activities and fees paid to outside engineering, consulting and law firms. See Notes 8 and 13 . Employee Stock Purchase and Savings Plan. The Company accounts for the Employee Stock Purchase and Savings Plan (ESOP) in accordance with the Employee Stock Ownership Plans Subtopic of the Compensation – Stock Ownership Topic of the ASC. The Company recognized compensation expense for amounts contributed to the ESOP. See Note 11 . Defined benefit pension and other postretirement benefit plans. The Company accounts for its defined benefit pension and other postretirement benefit plans in accordance with the Retirement Benefits Topic of the ASC, which requires the recognition of a plan’s funded status as an asset for overfunded plans and as a liability for unfunded or underfunded plans. See Note 6 . Stock-based compensation. The cost of the Company’s stock-based compensation is recorded in accordance with the Stock Compensation Topic of the ASC. See Note 12 . Foreign currency translation. All consolidated non-highly inflationary foreign operations use the local currency of the country of operation as the functional currency and translated the local currency asset and liability accounts at year-end exchange rates while income and expense accounts were translated at average exchange rates. The resulting translation adjustments were included in Cumulative other comprehensive loss, a component of Shareholders’ equity. Cumulative other comprehensive loss. At December 31, 2016 , the ending balance of Cumulative other comprehensive loss included adjustments for foreign currency translation of $501,277 , net prior service costs and net actuarial losses related to pension and other postretirement benefit plans of $125,096 , unrealized net gains on marketable equity securities of $1,015 and unrealized net gains on interest rate lock cash flow hedges of $85,007 . At December 31, 2015 and 2014 , the ending balance of Cumulative other comprehensive loss included adjustments for foreign currency translation of $482,629 and $354,384 , respectively, net prior service costs and net actuarial losses related to pension and other postretirement benefit plans of $104,346 and $118,167 , respectively, and unrealized losses and gains on marketable equity securities of $120 and $593 , respectively. Revenue recognition. The Company recognized revenue when products were shipped and title passed to unaffiliated customers. Collectibility of amounts recorded as revenue was reasonably assured at the time of recognition. Third-party service revenue. The Company used subcontractors to provide installation services for customers. Under these arrangements, the Company invoiced the customer for both the product and installation and remitted payment to the subcontractor for the installation. Starting in the third quarter of 2016, the Company recorded the installation revenue in Net sales and the payments to subcontractors in Cost of goods sold. Prior to the third quarter, these amounts were netted and immaterial. Customer and vendor consideration. The Company offered certain customers rebate and sales incentive programs which were classified as reductions in Net sales. Such programs were in the form of volume rebates, rebates that constituted a percentage of sales or rebates for attaining certain sales goals. The Company received consideration from certain suppliers of raw materials in the form of volume rebates or rebates that constituted a percentage of purchases. These rebates were recognized on an accrual basis by the Company as a reduction of the purchase price of the raw materials and a subsequent reduction of Cost of goods sold when the related product was sold. Costs of goods sold. Included in Costs of goods sold were costs for materials, manufacturing, distribution and related support. Distribution costs included all expenses related to the distribution of products including inbound freight charges, purchase and receiving costs, warehousing costs, internal transfer costs and all costs incurred to ship products. Also included in Costs of goods sold were total technical expenditures, which included research and development costs, quality control, product formulation expenditures and other similar items. Research and development costs included in technical expenditures were $58,041 , $57,667 and $50,019 for 2016 , 2015 and 2014 , respectively. The settlement gain related to the titanium dioxide litigation reduced 2014 Costs of goods sold by $21,420 . See Note 9 . Selling, general and administrative expenses. Selling costs included advertising expenses, marketing costs, employee and store costs and sales commissions. The cost of advertising was expensed as incurred. The Company incurred $351,002 , $338,188 and $299,201 in advertising costs during 2016 , 2015 and 2014 , respectively. General and administrative expenses included human resources, legal, finance and other support and administrative functions. Earnings per share. Common stock held in a revocable trust (see Note 10 ) was not included in outstanding shares for basic or diluted income per common share calculations. All references to “shares” or “per share” information throughout this report relate to common shares and are stated on a diluted per common share basis, unless otherwise indicated. Basic and diluted net income per common share were calculated using the treasury stock method in accordance with the Earnings Per Common Share Topic of the ASC. Basic net income per common share amounts were computed based on the weighted-average number of common shares outstanding during the year. Diluted net income per common share amounts were computed based on the weighted-average number of common shares outstanding plus all dilutive securities potentially outstanding during the year. See Note 15 . Impact of recently issued accounting standards. During the second quarter of 2016, the Company early adopted, as permitted, ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which simplifies various provisions related to how share-based payments are accounted for and presented in the financial statements. Excess tax benefits for share-based payments are no longer recognized in other capital on the balance sheet and are instead recognized in the income tax provision on the income statement. As a result, excess tax benefits for share-based payments are now included in Net operating cash rather than Net financing cash. The changes have been applied prospectively beginning on January 1, 2016 in accordance with the ASU and prior years have not been restated. See Note 14 for additional information. Effective January 1, 2016, the Company adopted ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires companies to present debt issuance costs associated with a debt liability as a deduction from the carrying amount of that debt liability on the balance sheet rather than being capitalized as an asset. The changes have been applied retrospectively. The adoption of this ASU did not have a material effect on the Company's results of operations, financial condition or liquidity. Effective January 1, 2016, the Company adopted ASU No. 2015-07, "Disclosures for Investments in Certain Entities That Calculate Net Asset Value Per Share (Or Its Equivalent)." This ASU removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share (or its equivalent) practical expedient. The adoption of this ASU affects the Company's year-end disclosure of the fair value of pension assets, but there is no effect on the Company's results of operations, financial condition or liquidity. In February 2016, the FASB issued ASU No. 2016-02, “Leases,” which consists of a comprehensive lease accounting standard. Under the new standard, assets and liabilities arising from most leases will be recognized on the balance sheet. Leases will be classified as either operating or financing, and the lease classification will determine whether expense is recognized on a straight line basis (operating leases) or based on an effective interest method (financing leases). The new standard is effective for interim and annual periods beginning after December 15, 2018. A modified retrospective transition approach is required with certain practical expedients available. The Company has made significant progress with its assessment process, and anticipates this standard will have a material impact on its consolidated balance sheet. While the Company continues to assess all potential impacts of the standard, it currently believes the most significant impact relates to recording lease assets and related liabilities on the balance sheet for the Paint Store Group's retail operations. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities,” which amends the guidance for certain aspects of recognition, measurement and disclosure of financial instruments. The standard is effective for interim and annual periods beginning after December 31, 2017, and early adoption is not permitted. The Company is in the process of evaluating the impact of the standard. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes," which eliminates the requirement for separate presentation of current and non-current portions of deferred tax. All deferred tax assets and deferred tax liabilities will be presented as non-current on the balance sheet. The standard is effective for interim and annual periods beginning after December 15, 2016. Either retrospective or prospective presentation can be used. The Company will adopt ASU No. 2015-17 as required. The ASU will not have a material effect on the Company's results of operations, financial condition or liquidity. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which consists of a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP. The issuance of ASU No. 2015-14 in August 2015 delays the effective date of the standard to interim and annual periods beginning after December 15, 2017. Either full retrospective adoption or modified retrospective adoption is permitted. In addition to expanded disclosures regarding revenue, this pronouncement may impact timing of recognition in some arrangements with variable consideration or contracts for the sale of goods or services. The Company has made significant progress with its assessment process. In addition, the Company is currently developing plans for enhancements to its information systems and internal controls in response to the new rule requirements. The Company plans to adopt the standard using the full retrospective method of adoption, which requires the restatement of prior periods presented. The Company expects to have expanded disclosures in the consolidated financial statements and is in process of evaluating the impact on the results of operations, financial condition and liquidity. Reclassification. Certain amounts in the notes to the consolidated financial statements for 2014 and 2015 have been reclassified to conform to the 2016 presentation.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS On March 19, 2016, the Company and The Valspar Corporation (Valspar) entered into a definitive agreement under which the Company will acquire Valspar for $113 per share in an all cash transaction, or a value of approximately $9.500 billion and assumption of Valspar debt and other considerations. The transaction is subject to certain conditions and regulatory approvals. If in connection with obtaining the required regulatory approvals, the parties are required to divest assets of Valspar or the Company representing, in the aggregate, more than $650,000 in net sales, then the per share consideration will be $105 in cash. The Company is not required to consummate the acquisition if regulatory authorities require the divestiture of assets of Valspar or the Company representing, in the aggregate, more than $1.500 billion . Valspar's architectural coatings assets in Australia are excluded from the calculation of the $650,000 and/or $1.500 billion threshold if such assets are required to be divested. A divestiture below the $650,000 threshold is expected in order to obtain the necessary regulatory approvals. The Company expects to negotiate the divestiture and complete the Valspar transaction at $113 per share in early 2017. During the year ended December 31, 2016 , the Company incurred SG&A and interest expense of $58,409 and $72,844 , respectively, related to the anticipated acquisition of Valspar. See Note 7. The acquisition-related expenses reduced basic and diluted net income per common share by $.89 and $.86 , respectively, for the year ended December 31, 2016. The acquisition will expand Sherwin-Williams diversified array of brands and technologies, expand its global platform and add new capabilities in the packaging and coil segments.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories were stated at the lower of cost or market with cost determined principally on the last-in, first-out (LIFO) method. The following presents the effect on inventories, net income and net income per common share had the Company used the first-in, first-out (FIFO) inventory valuation method adjusted for income taxes at the statutory rate and assuming no other adjustments. Management believes that the use of LIFO results in a better matching of costs and revenues. This information is presented to enable the reader to make comparisons with companies using the FIFO method of inventory valuation. During 2014 , certain inventories accounted for on the LIFO method were reduced, resulting in the liquidation of certain quantities carried at costs prevailing in prior years. The 2014 liquidation increased net income by $196 . 2016 2015 2014 Percentage of total inventories on LIFO 79 % 78 % 76 % Excess of FIFO over LIFO $ 253,353 $ 251,060 $ 331,867 (Decrease) increase in net (1,421 ) 49,658 3,230 (Decrease) increase in net (.02 ) .53 .03

Goodwill, Intangible and Long-L

Goodwill, Intangible and Long-Lived Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL, INTANGIBLE AND LONG-LIVED ASSETS	GOODWILL, INTANGIBLE AND LONG-LIVED ASSETS In accordance with the Property, Plant and Equipment Topic of the ASC, whenever events or changes in circumstances indicate that the carrying value of long-lived assets may not be recoverable or the useful life may have changed, impairment tests are to be performed. Undiscounted cash flows are to be used to calculate the recoverable value of long-lived assets to determine if such assets are impaired. Where impairment is identified, a discounted cash flow valuation model, incorporating discount rates commensurate with the risks involved for each group of assets, is to be used to determine the fair value for the assets to measure any potential impairment. No material impairments were recorded in 2016, 2015 and 2014. In accordance with the Goodwill and Other Intangibles Topic of the ASC, goodwill and indefinite-lived intangible assets are tested for impairment annually, and interim impairment tests are performed whenever an event occurs or circumstances change that indicate an impairment has more likely than not occurred. October 1 has been established for the annual impairment review. At the time of impairment testing, values are estimated separately for goodwill and trademarks with indefinite lives using a discounted cash flow valuation model, incorporating discount rates commensurate with the risks involved for each group of assets. An optional qualitative assessment may alleviate the need to perform the quantitative goodwill impairment test when impairment is unlikely. The annual impairment review performed as of October 1, 2016 resulted in goodwill and trademark impairment in the Latin America Coatings Group of $10,455 and $233 , respectively. The goodwill impairment charge related primarily to lower than anticipated cash flow in the Latin America Coatings Group. The trademark impairment related to lower than anticipated sales of an acquired brand. The annual impairment reviews performed as of October 1, 2015 and 2014 did not result in any goodwill or trademark impairment. A summary of changes in the Company’s carrying value of goodwill by Reportable Segment is as follows: Goodwill Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Consolidated Totals Balance at January 1, 2014 (1) $ 287,300 $ 703,351 $ 178,298 $ 9,738 $ 1,178,687 Currency and other adjustments (1,866 ) (1,145 ) (17,287 ) (43 ) (20,341 ) Balance at December 31, 2014 (1) 285,434 702,206 161,011 9,695 1,158,346 Currency and other adjustments (28 ) (1,135 ) (13,801 ) (49 ) (15,013 ) Balance at December 31, 2015 (1) 285,406 701,071 147,210 9,646 1,143,333 Impairment charged to operations (10,455 ) (10,455 ) Currency and other adjustments 4 (1,197 ) (5,602 ) 809 (5,986 ) Balance at December 31, 2016 (2) $ 285,410 $ 699,874 $ 141,608 $ — $ 1,126,892 (1) Net of accumulated impairment losses of $8,904 ( $8,113 in the Consumer Group and $791 in the Global Finishes Group). (2) Net of accumulated impairment losses of $19,359 ( $8,113 in the Consumer Group, $791 in the Global Finishes Group and $10,455 in the Latin America Coatings Group). A summary of the Company’s carrying value of intangible assets is as follows: Finite-lived intangible assets Trademarks with indefinite lives Total intangible assets Software All other Subtotal December 31, 2016 Weighted-average amortization period 7 years 11 years 10 years Gross $ 144,557 $ 313,613 $ 458,170 Accumulated amortization (103,735 ) (240,217 ) (343,952 ) Net value $ 40,822 $ 73,396 $ 114,218 $ 140,792 $ 255,010 December 31, 2015 Weighted-average amortization period 8 years 12 years 11 years Gross $ 123,863 $ 312,119 $ 435,982 Accumulated amortization (95,008 ) (228,921 ) (323,929 ) Net value $ 28,855 $ 83,198 $ 112,053 $ 143,318 $ 255,371 December 31, 2014 Weighted-average amortization period 8 years 12 years 11 years Gross $ 126,258 $ 317,005 $ 443,263 Accumulated amortization (88,384 ) (215,518 ) (303,902 ) Net value $ 37,874 $ 101,487 $ 139,361 $ 149,766 $ 289,127 Amortization of finite-lived intangible assets is as follows for the next five years: $18,958 in 2017 , $18,390 in 2018 , $16,209 in 2019 , $14,985 in 2020 and $13,177 in 2021 .

Exit or Disposal Activities

Exit or Disposal Activities	12 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
EXIT OR DISPOSAL ACTIVITIES	EXIT OR DISPOSAL ACTIVITIES Management is continually re-evaluating the Company’s operating facilities, including acquired operating facilities, against its long-term strategic goals. Liabilities associated with exit or disposal activities are recognized as incurred in accordance with the Exit or Disposal Cost Obligations Topic of the ASC. Provisions for qualified exit costs are made at the time a facility is no longer operational. Qualified exit costs primarily include post-closure rent expenses or costs to terminate the contract before the end of its term and costs of employee terminations. Adjustments may be made to liabilities accrued for qualified exit costs if information becomes available upon which more accurate amounts can be reasonably estimated. Concurrently, property, plant and equipment is tested for impairment in accordance with the Property, Plant and Equipment Topic of the ASC, and if impairment exists, the carrying value of the related assets is reduced to estimated fair value. Additional impairment may be recorded for subsequent revisions in estimated fair value. Adjustments to prior provisions and additional impairment charges for property, plant and equipment of closed sites being held for disposal are recorded in Other general expense – net. During 2016, 15 stores in Paint Stores Group, 13 branches in the Global Finishes Group, 2 facilities in Consumer Group and 1 store in the Latin America Coatings Group were closed due to lower demand or redundancy. Provisions for severance and other qualified exit costs of $1,020 and $505 were charged to the Consumer Group and Global Finish Group, respectively. Provisions for severance and other qualified exit costs related to manufacturing facilities, distribution facilities, stores and branches closed prior to 2016 of $1,513 were recorded. During 2015, 30 stores in the Paint Stores Group, 7 branches in the Global Finishes Group and 2 stores in the Latin America Coatings Group were closed due to lower demand or redundancy. In addition, the Global Finishes Group exited a business in Europe. Provisions for severance and other qualified exit cost of $168 and $8,329 were charged to the Paint Stores Group and Global Finishes Group, respectively. Provisions for severance and other qualified exit costs related to manufacturing facilities, distribution facilities, stores and branches closed prior to 2015 of $1,264 were recorded. During 2014, 7 facilities and 24 stores and branches were closed due to lower demand or redundancy. In addition, the Global Finishes Group exited its business in Venezuela. Provisions for severance and other qualified exit cost of $280 , $4,809 and $4,767 were charged to the Paint Stores Group, Consumer Group and Global Finishes Group, respectively. Provisions for severance and other qualified exit costs related to manufacturing facilities, distribution facilities, stores and branches closed prior to 2014 of $3,722 were recorded. At December 31, 2016 , a portion of the remaining accrual for qualified exit costs relating to facilities shutdown prior to 2014 is expected to be incurred by the end of 2017 . The remaining portion of the ending accrual for facilities shutdown prior to 2014 primarily represented post-closure contractual expenses related to certain owned facilities which are closed and being held for disposal. The Company cannot reasonably estimate when such matters will be concluded to permit disposition. The following tables summarize the activity and remaining liabilities associated with qualified exit costs: (Thousands of dollars) Balance at December 31, 2015 Provisions in Actual Balance at December 31, 2016 Consumer Group facilities shutdown in 2016: Severance and related costs $ 1,020 $ (113 ) $ 907 Global Finishes Group stores shutdown in 2016: Severance and related costs 136 136 Other qualified exit costs 369 (100 ) 269 Paint Stores Group stores shutdown in 2015: Other qualified exit costs $ 12 481 (298 ) 195 Global Finishes Group stores shutdown in 2015: Severance and related costs 1,096 (1,096 ) Other qualified exit costs 2,750 499 (2,816 ) 433 Paint Stores Group stores shutdown in 2014: Other qualified exit costs 184 (81 ) 103 Consumer Group facilities shutdown in 2014: Severance and related costs 445 (46 ) 399 Other qualified exit costs 52 (39 ) 13 Global Finishes Group exit of business in 2014: Severance and related costs 430 (430 ) Other qualified exit costs 353 430 (600 ) 183 Severance and other qualified exit costs for facilities shutdown prior to 2014 1,755 103 (648 ) 1,210 Totals $ 7,077 $ 3,038 $ (6,267 ) $ 3,848 (Thousands of dollars) Balance at December 31, 2014 Provisions in Actual Balance at December 31, 2015 Paint Stores Group stores shutdown in 2015: Other qualified exit costs $ 168 $ (156 ) $ 12 Global Finishes Group stores shutdown in 2015: Severance and related costs 1,341 (245 ) 1,096 Other qualified exit costs 6,988 (4,238 ) 2,750 Paint Stores Group stores shutdown in 2014: Other qualified exit costs $ 280 142 (238 ) 184 Consumer Group facilities shutdown in 2014: Severance and related costs 2,732 466 (2,753 ) 445 Other qualified exit costs 781 6 (735 ) 52 Global Finishes Group exit of business in 2014: Severance and related costs 104 326 430 Other qualified exit costs 1,080 324 (1,051 ) 353 Paint Stores Group facility shutdown in 2013: Severance and related costs 654 (654 ) Other qualified exit costs 1,205 (411 ) 794 Global Finishes Group stores shutdown in 2013: Severance and related costs 28 (28 ) Other qualified exit costs 138 (138 ) Severance and other qualified exit costs for facilities shutdown prior to 2013 1,514 (553 ) 961 Totals $ 8,516 $ 9,761 $ (11,200 ) $ 7,077 Exit Plan Balance at December 31, 2013 Provisions in Actual Balance at December 31, 2014 Paint Stores Group stores shutdown in 2014: Other qualified exit costs $ 280 $ 280 Consumer Group facilities shutdown in 2014: Severance and related costs 4,028 $ (1,296 ) 2,732 Other qualified exit costs 781 781 Global Finishes Group exit of business in 2014: Severance and related costs 2,500 (2,396 ) 104 Other qualified exit costs 2,267 (1,187 ) 1,080 Paint Stores Group facility shutdown in 2013: Severance and related costs $ 977 2,126 (2,449 ) 654 Other qualified exit costs 1,499 (294 ) 1,205 Consumer Group facilities shutdown in 2013: Severance and related costs 598 97 (695 ) Global Finishes Group stores shutdown in 2013: Severance and related costs 33 (5 ) 28 Other qualified exit costs 220 (82 ) 138 Latin America Coatings Group facilities shutdown in 2013: Severance and related costs 123 (123 ) Paint Stores Group stores shutdown in 2012: Other qualified exit costs 244 (51 ) 193 Global Finishes Group facilities shutdown in 2012: Severance and related costs 2,177 (1,863 ) 314 Other qualified exit costs 83 83 Other qualified exit costs for facilities shutdown prior to 2012 1,365 (441 ) 924 Totals $ 5,820 $ 13,578 $ (10,882 ) $ 8,516

Pension, Health Care and Postre

Pension, Health Care and Postretirement Benefits Other Than Pensions	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
PENSION, HEALTH CARE AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	PENSION, HEALTH CARE AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS The Company provides pension benefits to substantially all employees through primarily noncontributory defined contribution or defined benefit plans and certain health care and life insurance benefits to domestic active employees and eligible retirees. In accordance with the Retirement Benefits Topic of the ASC, the Company recognizes an asset for overfunded defined benefit pension or other postretirement benefit plans and a liability for unfunded or underfunded plans. In addition, actuarial gains and losses and prior service costs of such plans are recorded in Cumulative other comprehensive loss, a component of Shareholders’ equity. The amounts recorded in Cumulative other comprehensive loss will continue to be modified as actuarial assumptions and service costs change, and all such amounts will be amortized to expense over a period of years through the net pension cost (credit) and net periodic benefit cost. Health care plans. The Company provides certain domestic health care plans that are contributory and contain cost-sharing features such as deductibles and coinsurance. There were 22,708 , 21,918 and 21,239 active employees entitled to receive benefits under these plans at December 31, 2016 , 2015 and 2014 , respectively. The cost of these benefits for active employees, which includes claims incurred and claims incurred but not reported, amounted to $220,589 , $217,781 and $202,787 for 2016 , 2015 and 2014 , respectively. Defined contribution pension plans. The Company’s annual contribution for its domestic defined contribution pension plan was $36,731 , $35,435 and $32,384 for 2016 , 2015 and 2014 , respectively. The contribution percentage ranges from two percent to seven percent of compensation for covered employees based on an age and service formula. Assets in employee accounts of the domestic defined contribution pension plan are invested in various investment funds as directed by the participants. These investment funds did not own a significant number of shares of the Company’s common stock for any year presented. The Company’s annual contributions for its foreign defined contribution pension plans, which are based on various percentages of compensation for covered employees up to certain limits, were $6,676 , $5,888 and $4,592 for 2016 , 2015 and 2014 , respectively. Assets in employee accounts of the foreign defined contribution pension plans are invested in various investment funds. These investment funds did not own a significant number of shares of the Company’s common stock for any year presented. Defined benefit pension plans. The Company has one salaried and one hourly domestic defined benefit pension plan, and twenty-one foreign defined benefit pension plans. All participants in the domestic salaried defined benefit pension plan prior to January 1, 2002 retain the previous defined benefit formula for computing benefits with certain modifications for active employees. Employees who became participants on or after January 1, 2002 are credited with certain contribution credits that range from two percent to seven percent of compensation based on an age and service formula. Contribution credits are converted into units to account for each participant’s benefits. Participants will receive a variable annuity benefit upon retirement or a lump sum distribution upon termination (if vested). Contribution credits earned prior to January 1, 2017 are subject to the hypothetical returns achieved on each participant’s allocation of units from investments in various investment funds as directed by the participant. Effective January 1, 2017, contribution credits are credited interest at an annual fixed rate equal to the Internal Revenue Service (IRS) 24-month average second segment rate. Contribution credits to the revised domestic salaried defined benefit pension plan are being funded through existing plan assets. Effective October 1, 2011, the domestic salaried defined benefit pension plan was frozen for new hires, and all newly hired U.S. non-collectively bargained employees are eligible to participate in the Company’s domestic defined contribution plan. At December 31, 2016 , the domestic salaried and hourly defined benefit pension plans were overfunded, with a projected benefit obligation of $632,797 , fair value of plan assets of $847,013 and excess plan assets of $214,216 . The plans are funded in accordance with all applicable regulations at December 31, 2016 and no funding will be required in 2017 . At December 31, 2015 , the domestic salaried and hourly defined benefit pension plans were overfunded, with a projected benefit obligation of $624,791 , fair value of plan assets of $858,605 and excess plan assets of $233,814 . At December 31, 2014 , the domestic salaried and hourly defined benefit pension plan were overfunded, with a projected benefit obligation of $653,338 , fair value of plan assets of $896,071 and excess plan assets of $242,733 . At December 31, 2016 , eighteen of the Company’s foreign defined benefit pension plans were unfunded or underfunded, with combined accumulated benefit obligations, projected benefit obligations, fair values of net assets and deficiencies of plan assets of $121,926 , $156,645 , $103,468 and $53,177 , respectively. An increase of $5,018 from 2015 in the combined projected benefit obligations of all foreign defined benefit pension plans was primarily due to changes in plan assumptions partially offset by the impact of the termination of an acquired Canada plan. The Company expects to make the following benefit payments for all domestic and foreign defined benefit pension plans: $53,827 in 2017 ; $54,357 in 2018 ; $53,810 in 2019 ; $54,671 in 2020 ; $55,387 in 2021 ; and $276,011 in 2022 through 2026 . The Company expects to contribute $3,676 to the foreign plans in 2017 . The estimated net actuarial losses and prior service costs for the defined benefit pension plans that are expected to be amortized from Cumulative other comprehensive loss into the net pension costs in 2017 are $8,585 and $1,362 , respectively. The following table summarizes the components of the net pension costs and Cumulative other comprehensive loss related to the defined benefit pension plans: Domestic Defined Benefit Pension Plans Foreign Defined Benefit Pension Plans 2016 2015 2014 2016 2015 2014 Net pension costs (credits): Service costs $ 22,291 $ 21,120 $ 21,342 $ 4,225 $ 5,071 $ 5,261 Interest costs 26,498 24,535 26,266 7,441 8,719 10,422 Expected returns on plan assets (50,197 ) (52,095 ) (51,293 ) (6,915 ) (9,296 ) (10,836 ) Amortization of prior service costs 1,205 1,310 1,837 Amortization of actuarial losses 4,532 1,962 1,540 1,910 1,413 Ongoing pension costs (credits) 4,329 (3,168 ) (1,848 ) 6,291 6,404 6,260 Settlement costs (credits) 4,231 3,255 (3,422 ) Net pension costs (credits) 4,329 (3,168 ) (1,848 ) 10,522 9,659 2,838 Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial losses arising during the year 18,926 15,359 47,785 17,030 1,907 21,792 Prior service costs arising during the year 2,081 2,242 Amortization of actuarial losses (4,532 ) (1,962 ) (1,540 ) (1,910 ) (1,413 ) Amortization of prior service costs (1,205 ) (1,310 ) (1,837 ) Exchange rate loss recognized during year (11,627 ) (5,830 ) (7,988 ) Total recognized in Cumulative other comprehensive loss 15,270 12,087 48,190 3,863 (5,833 ) 12,391 Total recognized in net pension costs (credits) and Cumulative other comprehensive loss $ 19,599 $ 8,919 $ 46,342 $ 14,385 $ 3,826 $ 15,229 The Company employs a total return investment approach for the domestic and foreign defined benefit pension plan assets. A mix of equities and fixed income investments are used to maximize the long-term return of assets for a prudent level of risk. In determining the expected long-term rate of return on defined benefit pension plan assets, management considers the historical rates of return, the nature of investments and an expectation of future investment strategies. The target allocations for plan assets are 45 – 65 percent equity securities and 30 – 40 percent fixed income securities. The following tables summarize the fair value of the defined benefit pension plan assets at December 31, 2016 , 2015 and 2014 . The presentation is in accordance with the Retirement Benefits Topic of the ASC, as updated by ASU No. 2015-07 (see Note 1). Fair value at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments at fair value: Equity investments (1) $ 393,045 $ 321,152 $ 71,893 Fixed income investments (2) 294,103 144,668 149,435 Other assets (3) 14,643 14,643 Total investments in fair value hierarchy 701,791 $ 465,820 $ 235,971 Investments measured at NAV or its equivalent (4) 310,230 Investments at fair value $ 1,012,021 Fair value at December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments at fair value: Equity investments (1) $ 435,690 $ 372,033 $ 63,657 Fixed income investments (2) 290,470 141,448 149,022 Other assets (3) 16,361 16,361 Total investments in fair value hierarchy 742,521 $ 513,481 $ 229,040 Investments measured at NAV or its equivalent (4) 278,423 Investments at fair value $ 1,020,944 Fair value at December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments at fair value: Equity investments (1) $ 487,357 $ 404,542 $ 82,815 Fixed income investments (2) 285,042 141,529 143,513 Other assets (3) 28,435 28,435 Total investments in fair value hierarchy 800,834 $ 546,071 $ 254,763 Investments measured at NAV or its equivalent (4) 282,882 Investments at fair value $ 1,083,716 (1) This category includes actively managed equity assets that track primarily to the S&P 500. (2) This category includes government and corporate bonds that track primarily to the Barclays Capital Aggregate Bond Index. (3) This category includes real estate and pooled investment funds. (4) This category includes pooled investment funds and private equity funds that are measured at NAV or its equivalent using the practical expedient. Therefore, these investments are not classified in the fair value hierarchy. Included as equity investments in the domestic defined benefit pension plan assets at December 31, 2016 were 300,000 shares of the Company’s common stock with a market value of $80,622 , representing 9.5 percent of total domestic plan assets. Dividends received on the Company’s common stock during 2016 totaled $1,008 . The following table summarizes the obligations, plan assets and assumptions used for the defined benefit pension plans, which are all measured as of December 31: Domestic Defined Benefit Pension Plans Foreign Defined Benefit Pension Plans 2016 2015 2014 2016 2015 2014 Accumulated benefit obligations at end of year $ 630,159 $ 621,873 $ 648,480 $ 172,047 $ 172,426 $ 203,610 Projected benefit obligations: Balances at beginning of year $ 624,791 $ 653,338 $ 582,036 $ 201,854 $ 234,524 $ 222,996 Service costs 22,291 21,120 21,342 4,225 5,071 5,261 Interest costs 26,498 24,535 26,266 7,441 8,719 10,422 Actuarial losses (gains) 8,132 (40,602 ) 68,748 43,736 (3,045 ) 32,551 Contributions and other 2,081 2,242 947 1,072 (6,692 ) Settlements (14,862 ) (18,707 ) (3,370 ) Effect of foreign exchange (30,360 ) (17,211 ) (18,987 ) Benefits paid (50,996 ) (33,600 ) (47,296 ) (6,108 ) (8,569 ) (7,657 ) Balances at end of year 632,797 624,791 653,338 206,873 201,854 234,524 Plan assets: Balances at beginning of year 858,605 896,071 870,386 162,339 187,645 184,963 Actual returns on plan assets 39,404 (3,866 ) 72,256 33,569 4,844 20,240 Contributions and other 725 15,019 11,424 7,328 Settlements (14,862 ) (18,707 ) (3,370 ) Effect of foreign exchange (24,949 ) (14,298 ) (13,859 ) Benefits paid (50,996 ) (33,600 ) (47,296 ) (6,108 ) (8,569 ) (7,657 ) Balances at end of year 847,013 858,605 896,071 165,008 162,339 187,645 Excess (deficient) plan assets over projected benefit obligations $ 214,216 $ 233,814 $ 242,733 $ (41,865 ) $ (39,515 ) $ (46,879 ) Assets and liabilities recognized in the Consolidated Balance Sheets: Deferred pension assets $ 214,216 $ 233,814 $ 242,733 $ 11,313 $ 11,068 $ 7,411 Other accruals (1,522 ) (1,442 ) (810 ) Other long-term liabilities (51,656 ) (49,141 ) (53,480 ) $ 214,216 $ 233,814 $ 242,733 $ (41,865 ) $ (39,515 ) $ (46,879 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (134,847 ) $ (120,454 ) $ (107,057 ) $ (45,604 ) $ (41,741 ) $ (47,574 ) Prior service costs (6,015 ) (5,138 ) (6,448 ) $ (140,862 ) $ (125,592 ) $ (113,505 ) $ (45,604 ) $ (41,741 ) $ (47,574 ) Weighted-average assumptions used to determine projected benefit obligations: Discount rate 4.20 % 4.40 % 3.95 % 3.21 % 4.20 % 3.92 % Rate of compensation increase 3.38 % 3.14 % 4.00 % 4.43 % 4.00 % 3.70 % Weighted-average assumptions used to determine net pension costs: Discount rate 4.40 % 3.95 % 4.65 % 4.20 % 3.92 % 4.89 % Expected long-term rate of return on assets 6.00 % 6.00 % 6.00 % 4.70 % 4.84 % 5.58 % Rate of compensation increase 3.14 % 4.00 % 4.00 % 4.00 % 3.70 % 4.31 % Postretirement Benefits Other Than Pensions. Employees of the Company hired in the United States prior to January 1, 1993 who are not members of a collective bargaining unit, and certain groups of employees added through acquisitions, are eligible for health care and life insurance benefits upon retirement, subject to the terms of the unfunded plans. There were 4,524 , 4,442 and 4,443 retired employees entitled to receive such postretirement benefits at December 31, 2016 , 2015 and 2014 , respectively. The following table summarizes the obligation and the assumptions used for postretirement benefits other than pensions: Postretirement Benefits Other than Pensions 2016 2015 2014 Benefit obligation: Balance at beginning of year - unfunded $ 263,383 $ 295,149 $ 286,651 Service cost 2,244 2,485 2,434 Interest cost 11,009 11,182 12,782 Actuarial loss (gain) 7,548 (19,370 ) 27,757 Plan amendments (9,269 ) (19,043 ) Benefits paid (19,047 ) (16,794 ) (15,432 ) Balance at end of year - unfunded $ 265,137 $ 263,383 $ 295,149 Liabilities recognized in the Consolidated Balance Sheets: Postretirement benefits other than pensions $ (250,397 ) $ (248,523 ) $ (277,892 ) Other accruals (14,740 ) (14,860 ) (17,257 ) $ (265,137 ) $ (263,383 ) $ (295,149 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (23,211 ) $ (15,664 ) $ (36,044 ) Prior service credits 19,205 25,784 21,043 $ (4,006 ) $ 10,120 $ (15,001 ) Weighted-average assumptions used to determine benefit obligation: Discount rate 4.10 % 4.30 % 3.90 % Health care cost trend rate - pre-65 6.00 % 6.00 % 7.00 % Health care cost trend rate - post-65 5.50 % 5.00 % 6.50 % Prescription drug cost increases 10.50 % 11.50 % 6.50 % Employer Group Waiver Plan (EGWP) trend rate 10.60 % 11.50 % 8.00 % Weighted-average assumptions used to determine net periodic benefit cost: Discount rate 4.30 % 3.90 % 4.60 % Health care cost trend rate - pre-65 6.00 % 7.00 % 7.50 % Health care cost trend rate - post-65 5.00 % 6.50 % 6.50 % Prescription drug cost increases 11.50 % 6.50 % 7.00 % The following table summarizes the components of the net periodic benefit cost and Cumulative other comprehensive loss related to postretirement benefits other than pensions: Postretirement Benefits Other than Pensions 2016 2015 2014 Net periodic benefit cost: Service cost $ 2,244 $ 2,485 $ 2,434 Interest cost 11,009 11,182 12,782 Amortization of actuarial losses 1,011 Amortization of prior service credit (6,578 ) (4,529 ) (503 ) Net periodic benefit cost 6,675 10,149 14,713 Other changes in projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial loss (gain) arising during the year 7,548 (19,370 ) 27,757 Prior service credit arising during the year (9,269 ) (19,043 ) Amortization of actuarial losses (1,011 ) Amortization of prior service credit 6,578 4,529 503 Total recognized in Cumulative other comprehensive loss 14,126 (25,121 ) 9,217 Total recognized in net periodic benefit cost and Cumulative other comprehensive loss $ 20,801 $ (14,972 ) $ 23,930 The estimated net actuarial losses and prior service (credits) for postretirement benefits other than pensions that are expected to be amortized from Cumulative other comprehensive loss into net periodic benefit cost in 2017 are $43 and $(6,579) , respectively. The assumed health care cost trend rate and prescription drug cost increases used to determine the net periodic benefit cost for postretirement health care benefits for 2017 both decrease in each successive year until reaching 4.5 percent in 2025 . The assumed health care and prescription drug cost trend rates have a significant effect on the amounts reported for the postretirement health care benefit obligation. A one-percentage-point change in assumed health care and prescription drug cost trend rates would have had the following effects at December 31, 2016 : One-Percentage Point Increase (Decrease) Effect on total of service and interest cost components $ 86 $ (131 ) Effect on the postretirement benefit obligation $ 552 $ (1,221 ) The Company expects to make retiree health care benefit cash payments as follows: Expected Cash Payments 2017 $ 14,740 2018 16,551 2019 17,398 2020 17,990 2021 18,334 2022 through 2026 93,300 Total expected benefit cash payments $ 178,313

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt Due Date 2016 2015 (1) 2014 (1) 3.45% Senior Notes 2025 $ 396,898 $ 396,536 4.55% Senior Notes 2045 393,637 393,414 4.00% Senior Notes 2042 295,938 295,781 $ 295,624 1.35% Senior Notes 2017 697,530 696,240 7.375% Debentures 2027 118,936 118,889 118,841 7.45% Debentures 2097 3,500 3,500 3,500 2.00% to 8.00% Promissory Notes Through 2027 2,417 1,628 1,791 $ 1,211,326 $ 1,907,278 $ 1,115,996 (1) Revised due to the adoption of ASU No. 2015-03. See Note 1. Maturities of long-term debt are as follows for the next five years: $701,679 in 2017 ; $754 in 2018 ; $248 in 2019 , $252 in 2020 and $256 in 2021 . Interest expense on long-term debt was $75,509 , $54,634 and $56,408 for 2016 , 2015 and 2014 , respectively. Among other restrictions, the Company’s Notes, Debentures and revolving credit agreement contain certain covenants relating to liens, ratings changes, merger and sale of assets, consolidated leverage and change of control as defined in the agreements. In the event of default under any one of these arrangements, acceleration of the maturity of any one or more of these borrowings may result. The Company was in compliance with all covenants for all years presented. On July 28, 2015, the Company issued $400,000 of 3.45% Senior Notes due 2025 and $400,000 of 4.55% Senior Notes due 2045. The notes are covered under a shelf registration filed with the Securities and Exchange Commission (SEC) on July 28, 2015. The proceeds were used for general corporate purposes, including repayment of a portion of the Company’s outstanding short-term borrowings. In April 2016, the Company entered into a $7.300 billion bridge credit agreement (Bridge Loan) and a $2.000 billion term loan credit agreement (Term Loan) as committed financing for the Valspar acquisition as disclosed in Note 2. No balances were drawn against these facilities as of December 31, 2016 . Debt issuance costs of $65,100 related to these facilities were incurred and recorded in Other current assets. Of this amount, $61,104 was amortized and included in Interest expense for year ended December 31, 2016 . Periodic fees related to these facilities totaling $11,740 were also included in interest expense for this period. During the first six months of 2016, in anticipation of a probable issuance of new long-term fixed rate debt within the next twelve months, the Company entered into a series of interest rate lock agreements (collectively, the interest rate locks) on a combined notional amount of $3.575 billion . The objective of the interest rate locks is to hedge the variability in the future semi-annual payments on the anticipated debt attributable to changes in the benchmark interest rate (U.S. Treasury) during the hedge periods. The future semi-annual interest payments are exposed to interest rate risk due to changes in the benchmark interest rate from the inception of the hedge to the time of issuance. The interest rate locks were evaluated for hedge accounting treatment and were designated as cash flow hedges. Therefore, the interest rate locks are recognized at fair value on the Consolidated Balance Sheet, and changes in fair value (to the extent effective) are recognized in Cumulative other comprehensive loss. Amounts recognized in Cumulative other comprehensive loss will be reclassified to Interest expense in periods following the settlement of the interest rate locks. The Company will evaluate hedge effectiveness each period until settlement. At December 31, 2016 , an interest rate lock asset of $137,233 was included in Other current assets, and the related pretax gain of $137,233 was recognized in Cumulative other comprehensive loss. Short-term borrowings. On July 16, 2015, the Company and three of its wholly owned subsidiaries, Sherwin-Williams Canada, Inc. (SW Canada), Sherwin-Williams Luxembourg S.à r.l. (SW Lux) and Sherwin-Williams UK Holding Limited, entered into a multi-currency five -year $1.350 billion credit agreement (multi-currency credit agreement). The multi-currency credit agreement is being used for general corporate purposes, including the financing of working capital requirements. The multi-currency credit agreement allows the Company to extend the maturity of the facility with two one -year extension options and to increase the aggregate amount of the facility to $1.850 billion , both of which are subject to the discretion of each lender. The multi-currency credit agreement replaced the previous credit agreements for the Company, SW Canada and SW Lux in the amounts of $1.050 billion , CAD 150,000 and €95,000 (Euro), respectively. At December 31, 2016 , short-term borrowings under the multi-currency credit agreement were $15,780 with a weighted average interest rate of 0.9% . Borrowings outstanding under various foreign programs were $24,959 at December 31, 2016 with a weighted average interest rate of 12.3% . There were no borrowings outstanding under the Company's domestic commercial paper program at December 31, 2016 and 2015. At December 31, 2014 borrowings outstanding under the domestic commercial paper program totaled $625,860 . The weighted average interest rate of these borrowings was 0.3% . On May 9, 2016, the Company entered into a five -year credit agreement, subsequently amended on multiple dates, which gives the Company the right to borrow and to obtain the issuance, renewal, extension and increase of a letter of credit up to an aggregate availability of $200,000 . At December 31, 2016 , 2015 and 2014 , there were no borrowings outstanding under any of these credit agreements. On November 14, 2012, the Company entered into a three -year credit agreement, subsequently amended on multiple dates, which gave the Company the right to borrow and to obtain the issuance, renewal, extension and increase of a letter of credit up to an aggregate availability of $250,000 . The November 14, 2012 credit agreement matured in 2015. On April 23, 2012, the Company entered into a five -year credit agreement, subsequently amended on multiple dates, which gives the Company the right to borrow and to obtain the issuance, renewal, extension and increase of a letter of credit up to an aggregate availability of $250,000 . On January 30, 2012, the Company entered into a five -year credit agreement, subsequently amended on multiple dates, which gives the Company the right to borrow and to obtain the issuance, renewal, extension and increase of a letter of credit of up to an aggregate availability of $500,000 .

Other Long-Term Liabilities

Other Long-Term Liabilities	12 Months Ended
	Dec. 31, 2016
Environmental Remediation Obligations [Abstract]
OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES The operations of the Company, like those of other companies in our industry, are subject to various domestic and foreign environmental laws and regulations. These laws and regulations not only govern current operations and products, but also impose potential liability on the Company for past operations. Management expects environmental laws and regulations to impose increasingly stringent requirements upon the Company and the industry in the future. Management believes that the Company conducts its operations in compliance with applicable environmental laws and regulations and has implemented various programs designed to protect the environment and promote continued compliance. The Company is involved with environmental investigation and remediation activities at some of its currently and formerly owned sites (including sites which were previously owned and/or operated by businesses acquired by the Company). In addition, the Company, together with other parties, has been designated a potentially responsible party under federal and state environmental protection laws for the investigation and remediation of environmental contamination and hazardous waste at a number of third-party sites, primarily Superfund sites. In general, these laws provide that potentially responsible parties may be held jointly and severally liable for investigation and remediation costs regardless of fault. The Company may be similarly designated with respect to additional third-party sites in the future. The Company initially provides for estimated costs of environmental-related activities relating to its past operations and third-party sites for which commitments or clean-up plans have been developed and when such costs can be reasonably estimated based on industry standards and professional judgment. These estimated costs are determined based on currently available facts regarding each site. If the best estimate of costs can only be identified as a range and no specific amount within that range can be determined more likely than any other amount within the range, the minimum of the range is provided. The Company continuously assesses its potential liability for investigation and remediation-related activities and adjusts its environmental-related accruals as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. Included in Other long-term liabilities at December 31, 2016 , 2015 and 2014 were accruals for extended environmental-related activities of $163,847 , $129,856 and $114,281 , respectively. Included in Other accruals at December 31, 2016 , 2015 and 2014 were accruals for estimated costs of current investigation and remediation activities of $19,969 , $22,493 and $16,868 , respectively. Actual costs incurred may vary from the accrued estimates due to the inherent uncertainties involved including, among others, the number and financial condition of parties involved with respect to any given site, the volumetric contribution which may be attributed to the Company relative to that attributed to other parties, the nature and magnitude of the wastes involved, the various technologies that can be used for remediation and the determination of acceptable remediation with respect to a particular site. If the Company’s future loss contingency is ultimately determined to be at the unaccrued maximum of the estimated range of possible outcomes for every site for which costs can be reasonably estimated, the Company’s accrual for environmental-related activities would be $87,021 higher than the minimum accruals at December 31, 2016 . Three of the Company’s currently and formerly owned manufacturing sites account for the majority of the accrual for environmental-related activities and the unaccrued maximum of the estimated range of possible outcomes at December 31, 2016 . At December 31, 2016 , $153,299 , or 83.4 percent of the total accrual, related directly to these three sites. In the aggregate unaccrued maximum of $87,021 at December 31, 2016 , $70,513 , or 81.0 percent , related to the three manufacturing sites. While environmental investigations and remedial actions are in different stages at these sites, additional investigations, remedial actions and monitoring will likely be required at each site. Management cannot presently estimate the ultimate potential loss contingencies related to these sites or other less significant sites until such time as a substantial portion of the investigation at the sites is completed and remedial action plans are developed. In the event any future loss contingency significantly exceeds the current amount accrued, the recording of the ultimate liability may result in a material impact on net income for the annual or interim period during which the additional costs are accrued. Management does not believe that any potential liability ultimately attributed to the Company for its environmental-related matters will have a material adverse effect on the Company’s financial condition, liquidity, or cash flow due to the extended period of time during which environmental investigation and remediation takes place. An estimate of the potential impact on the Company’s operations cannot be made due to the aforementioned uncertainties. Management expects these contingent environmental-related liabilities to be resolved over an extended period of time. Management is unable to provide a more specific time frame due to the indefinite amount of time to conduct investigation activities at any site, the indefinite amount of time to obtain environmental agency approval, as necessary, with respect to investigation and remediation activities, and the indefinite amount of time necessary to conduct remediation activities. The Asset Retirement and Environmental Obligations Topic of the ASC requires a liability to be recognized for the fair value of a conditional asset retirement obligation if a settlement date and fair value can be reasonably estimated. The Company recognizes a liability for any conditional asset retirement obligation when sufficient information is available to reasonably estimate a settlement date to determine the fair value of such a liability. The Company has identified certain conditional asset retirement obligations at various current and closed manufacturing, distribution and store facilities. These obligations relate primarily to asbestos abatement, hazardous waste Resource Conservation and Recovery Act (RCRA) closures, well abandonment, transformers and used oil disposals and underground storage tank closures. Using investigative, remediation and disposal methods that are currently available to the Company, the estimated costs of these obligations were accrued and are not significant. The recording of additional liabilities for future conditional asset retirement obligations may result in a material impact on net income for the annual or interim period during which the costs are accrued. Management does not believe that any potential liability ultimately attributed to the Company for its conditional asset retirement obligations will have a material adverse effect on the Company’s financial condition, liquidity, or cash flow due to the extended period of time over which sufficient information may become available regarding the closure or modification of any one or group of the Company’s facilities. An estimate of the potential impact on the Company’s operations cannot be made due to the aforementioned uncertainties.

Litigation

Litigation	12 Months Ended
	Dec. 31, 2016
Loss Contingency, Information about Litigation Matters [Abstract]
LITIGATION	LITIGATION In the course of its business, the Company is subject to a variety of claims and lawsuits, including, but not limited to, litigation relating to product liability and warranty, personal injury, environmental, intellectual property, commercial, contractual and antitrust claims that are inherently subject to many uncertainties regarding the possibility of a loss to the Company. These uncertainties will ultimately be resolved when one or more future events occur or fail to occur confirming the incurrence of a liability or the reduction of a liability. In accordance with the Contingencies Topic of the ASC, the Company accrues for these contingencies by a charge to income when it is both probable that one or more future events will occur confirming the fact of a loss and the amount of the loss can be reasonably estimated. In the event that the Company’s loss contingency is ultimately determined to be significantly higher than currently accrued, the recording of the additional liability may result in a material impact on the Company’s results of operations, liquidity or financial condition for the annual or interim period during which such additional liability is accrued. In those cases where no accrual is recorded because it is not probable that a liability has been incurred and the amount of any such loss cannot be reasonably estimated, any potential liability ultimately determined to be attributable to the Company may result in a material impact on the Company’s results of operations, liquidity or financial condition for the annual or interim period during which such liability is accrued. In those cases where no accrual is recorded or exposure to loss exists in excess of the amount accrued, the Contingencies Topic of the ASC requires disclosure of the contingency when there is a reasonable possibility that a loss or additional loss may have been incurred. Lead pigment and lead-based paint litigation. The Company’s past operations included the manufacture and sale of lead pigments and lead-based paints. The Company, along with other companies, is and has been a defendant in a number of legal proceedings, including individual personal injury actions, purported class actions, and actions brought by various counties, cities, school districts and other government-related entities, arising from the manufacture and sale of lead pigments and lead-based paints. The plaintiffs’ claims have been based upon various legal theories, including negligence, strict liability, breach of warranty, negligent misrepresentations and omissions, fraudulent misrepresentations and omissions, concert of action, civil conspiracy, violations of unfair trade practice and consumer protection laws, enterprise liability, market share liability, public nuisance, unjust enrichment and other theories. The plaintiffs seek various damages and relief, including personal injury and property damage, costs relating to the detection and abatement of lead-based paint from buildings, costs associated with a public education campaign, medical monitoring costs and others. The Company has also been a defendant in legal proceedings arising from the manufacture and sale of non-lead-based paints that seek recovery based upon various legal theories, including the failure to adequately warn of potential exposure to lead during surface preparation when using non-lead-based paint on surfaces previously painted with lead-based paint. The Company believes that the litigation brought to date is without merit or subject to meritorious defenses and is vigorously defending such litigation. The Company has not settled any material lead pigment or lead-based paint litigation. The Company expects that additional lead pigment and lead-based paint litigation may be filed against the Company in the future asserting similar or different legal theories and seeking similar or different types of damages and relief. Notwithstanding the Company’s views on the merits, litigation is inherently subject to many uncertainties, and the Company ultimately may not prevail. Adverse court rulings or determinations of liability, among other factors, could affect the lead pigment and lead-based paint litigation against the Company and encourage an increase in the number and nature of future claims and proceedings. In addition, from time to time, various legislation and administrative regulations have been enacted, promulgated or proposed to impose obligations on present and former manufacturers of lead pigments and lead-based paints respecting asserted health concerns associated with such products or to overturn the effect of court decisions in which the Company and other manufacturers have been successful. Due to the uncertainties involved, management is unable to predict the outcome of the lead pigment and lead-based paint litigation, the number or nature of possible future claims and proceedings or the effect that any legislation and/or administrative regulations may have on the litigation or against the Company. In addition, management cannot reasonably determine the scope or amount of the potential costs and liabilities related to such litigation, or resulting from any such legislation and regulations. The Company has not accrued any amounts for such litigation. With respect to such litigation, including the public nuisance litigation, the Company does not believe that it is probable that a loss has occurred, and it is not possible to estimate the range of potential losses as there is no prior history of a loss of this nature and there is no substantive information upon which an estimate could be based. In addition, any potential liability that may result from any changes to legislation and regulations cannot reasonably be estimated. In the event any significant liability is determined to be attributable to the Company relating to such litigation, the recording of the liability may result in a material impact on net income for the annual or interim period during which such liability is accrued. Additionally, due to the uncertainties associated with the amount of any such liability and/or the nature of any other remedy which may be imposed in such litigation, any potential liability determined to be attributable to the Company arising out of such litigation may have a material adverse effect on the Company’s results of operations, liquidity or financial condition. An estimate of the potential impact on the Company’s results of operations, liquidity or financial condition cannot be made due to the aforementioned uncertainties. Public nuisance claim litigation . The Company and other companies are or were defendants in legal proceedings seeking recovery based on public nuisance liability theories, among other theories, brought by the State of Rhode Island, the City of St. Louis, Missouri, various cities and counties in the State of New Jersey, various cities in the State of Ohio and the State of Ohio, the City of Chicago, Illinois, the City of Milwaukee, Wisconsin and the County of Santa Clara, California and other public entities in the State of California. Except for the Santa Clara County, California proceeding, all of these legal proceedings have been concluded in favor of the Company and other defendants at various stages in the proceedings. The proceedings initiated by the State of Rhode Island included two jury trials. At the conclusion of the second trial, the jury returned a verdict finding that (i) the cumulative presence of lead pigment in paints and coatings on buildings in the State of Rhode Island constitutes a public nuisance, (ii) the Company, along with two other defendants, caused or substantially contributed to the creation of the public nuisance and (iii) the Company and two other defendants should be ordered to abate the public nuisance. The Company and two other defendants appealed and, on July 1, 2008, the Rhode Island Supreme Court, among other determinations, reversed the judgment of abatement with respect to the Company and two other defendants. The Rhode Island Supreme Court’s decision reversed the public nuisance liability judgment against the Company on the basis that the complaint failed to state a public nuisance claim as a matter of law. The Santa Clara County, California proceeding was initiated in March 2000 in the Superior Court of the State of California, County of Santa Clara. In the original complaint, the plaintiffs asserted various claims including fraud and concealment, strict product liability/failure to warn, strict product liability/design defect, negligence, negligent breach of a special duty, public nuisance, private nuisance, and violations of California’s Business and Professions Code. A number of the asserted claims were resolved in favor of the defendants through pre-trial proceedings. The named plaintiffs in the Fourth Amended Complaint, filed on March 16, 2011, are the Counties of Santa Clara, Alameda, Los Angeles, Monterey, San Mateo, Solano and Ventura, the Cities of Oakland and San Diego and the City and County of San Francisco. The Fourth Amended Complaint asserted a sole claim for public nuisance, alleging that the presence of lead pigments for use in paint and coatings in, on and around residences in the plaintiffs’ jurisdictions constitutes a public nuisance. The plaintiffs sought the abatement of the alleged public nuisance that exists within the plaintiffs’ jurisdictions. A trial commenced on July 15, 2013 and ended on August 22, 2013. The court entered final judgment on January 27, 2014, finding in favor of the plaintiffs and against the Company and two other defendants (ConAgra Grocery Products Company and NL Industries, Inc.). The final judgment held the Company jointly and severally liable with the other two defendants to pay $1.15 billion into a fund to abate the public nuisance. The Company strongly disagrees with the judgment. On February 18, 2014, the Company filed a motion for new trial and a motion to vacate the judgment. The court denied these motions on March 24, 2014. On March 28, 2014, the Company filed a notice of appeal to the Sixth District Court of Appeal for the State of California. The filing of the notice of appeal effects an automatic stay of the judgment without the requirement to post a bond. The appeal is fully briefed, and the parties are waiting for the Sixth District Court of Appeal to set a date for oral argument. The date for oral argument is at the discretion of the Sixth District Court of Appeal. The Company expects the Sixth District Court of Appeal to issue its ruling within 90 days following oral argument. The Company believes that the judgment conflicts with established principles of law and is unsupported by the evidence. The Company has had a favorable history with respect to lead pigment and lead-based paint litigation, particularly other public nuisance litigation, and accordingly, the Company believes that it is not probable that a loss has occurred and it is not possible to estimate the range of potential loss with respect to the case. Litigation seeking damages from alleged personal injury . The Company and other companies are defendants in a number of legal proceedings seeking monetary damages and other relief from alleged personal injuries. These proceedings include claims by children allegedly injured from ingestion of lead pigment or lead-containing paint and claims for damages allegedly incurred by the children’s parents or guardians. These proceedings generally seek compensatory and punitive damages, and seek other relief including medical monitoring costs. These proceedings include purported claims by individuals, groups of individuals and class actions. The plaintiff in Thomas v. Lead Industries Association, et al., initiated an action in state court against the Company, other alleged former lead pigment manufacturers and the Lead Industries Association in September 1999. The claims against the Company and the other defendants included strict liability, negligence, negligent misrepresentation and omissions, fraudulent misrepresentation and omissions, concert of action, civil conspiracy and enterprise liability. Implicit within these claims is the theory of “risk contribution” liability (Wisconsin’s theory which is similar to market share liability, except that liability can be joint and several) due to the plaintiff’s inability to identify the manufacturer of any product that allegedly injured the plaintiff. The case ultimately proceeded to trial and, on November 5, 2007, the jury returned a defense verdict, finding that the plaintiff had ingested white lead carbonate, but was not brain damaged or injured as a result. The plaintiff appealed and, on December 16, 2010, the Wisconsin Court of Appeals affirmed the final judgment in favor of the Company and other defendants. Wisconsin is the only jurisdiction to date to apply a theory of liability with respect to alleged personal injury (i.e., risk contribution/market share liability) that does not require the plaintiff to identify the manufacturer of the product that allegedly injured the plaintiff in the lead pigment and lead-based paint litigation. Although the risk contribution liability theory was applied during the Thomas trial, the constitutionality of this theory as applied to the lead pigment cases has not been judicially determined by the Wisconsin state courts. However, in an unrelated action filed in the United States District Court for the Eastern District of Wisconsin, Gibson v. American Cyanamid, et al., on November 15, 2010, the District Court held that Wisconsin’s risk contribution theory as applied in that case violated the defendants’ right to substantive due process and is unconstitutionally retroactive. The District Court's decision in Gibson v. American Cyanamid, et al., was appealed by the plaintiff to the United States Court of Appeals for the Seventh Circuit. On July 24, 2014, the United States Court of Appeals for the Seventh Circuit reversed the judgment and remanded the case back to the District Court for further proceedings. On January 16, 2015, the defendants filed a petition for certiorari in the United States Supreme Court seeking that Court's review of the Seventh Circuit's decision, and on May 18, 2015, the United States Supreme Court denied the defendants' petition. The case is currently pending in the District Court. Three cases also currently pending in the United States District Court for the Eastern District of Wisconsin (Ravon Owens v. American Cyanamid, et al., Cesar Sifuentes v. American Cyanamid, et al., and Glenn Burton, Jr. v. American Cyanamid, et al.) are being prepared for trial, although no trial dates have been set by the District Court. In Yasmine Clark v. The Sherwin-Williams Company, et al., the Wisconsin Circuit Court, Milwaukee County, on March 25, 2014, held that the application to a pending case of Section 895.046 of the Wisconsin Statutes (which clarifies the application of the risk contribution theory) is unconstitutional as a violation of the plaintiff’s right to due process of law under the Wisconsin Constitution. On August 21, 2014, the Wisconsin Court of Appeals granted defendants' petition to hear the issue as an interlocutory appeal. On September 29, 2015, the Wisconsin Court of Appeals certified the appeal to the Wisconsin Supreme Court for its determination. Oral argument before the Wisconsin Supreme Court occurred on April 5, 2016. On April 15, 2016, the Wisconsin Supreme Court published its decision, deciding in a 3 to 3 split decision to remand the case back to the Wisconsin Court of Appeals for its consideration. The Wisconsin Court of Appeals dismissed the appeal on September 20, 2016 and remanded the case back to the Wisconsin Circuit Court for further proceedings. A trial in the Wisconsin Circuit Court is currently scheduled to begin in October 2017. Insurance coverage litigation . The Company and its liability insurers, including certain underwriters at Lloyd’s of London, initiated legal proceedings against each other to primarily determine, among other things, whether the costs and liabilities associated with the abatement of lead pigment are covered under certain insurance policies issued to the Company. The Company’s action, filed on March 3, 2006 in the Common Pleas Court, Cuyahoga County, Ohio, is currently stayed and inactive. The liability insurers’ action, which was filed on February 23, 2006 in the Supreme Court of the State of New York, County of New York, has been dismissed. An ultimate loss in the insurance coverage litigation would mean that insurance proceeds could be unavailable under the policies at issue to mitigate any ultimate abatement related costs and liabilities. The Company has not recorded any assets related to these insurance policies or otherwise assumed that proceeds from these insurance policies would be received in estimating any contingent liability accrual. Therefore, an ultimate loss in the insurance coverage litigation without a determination of liability against the Company in the lead pigment or lead-based paint litigation will have no impact on the Company’s results of operation, liquidity or financial condition. As previously stated, however, the Company has not accrued any amounts for the lead pigment or lead-based paint litigation and any significant liability ultimately determined to be attributable to the Company relating to such litigation may result in a material impact on the Company’s results of operations, liquidity or financial condition for the annual or interim period during which such liability is accrued. Titanium dioxide suppliers antitrust class action lawsuit. The Company was a member of the plaintiff class related to Titanium Dioxide Antitrust Litigation that was initiated in 2010 against certain suppliers alleging various theories of relief arising from purchases of titanium dioxide made from 2003 through 2012. The Court approved a settlement less attorney fees and expense, and the Company timely submitted claims to recover its pro-rata portion of the settlement. There was no specified deadline for the claims administrator to complete the review of all claims submitted. In October 2014, the Company was notified that it would receive a disbursement of settlement funds, and the Company received a pro-rata disbursement net of all fees of approximately $21,420 . The Company recorded this settlement gain in the fourth quarter of 2014.

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK At December 31, 2016 , there were 300,000,000 shares of common stock and 30,000,000 shares of serial preferred stock authorized for issuance. Of the authorized serial preferred stock, 3,000,000 shares are designated as cumulative redeemable serial preferred and 1,000,000 shares are designated as convertible serial preferred stock. See Note 11 . Under the amended and restated 2006 Equity and Performance Incentive Plan (2006 Employee Plan), 19,200,000 common shares may be issued or transferred. See Note 12 . An aggregate of 7,720,815 , 8,824,943 and 10,304,816 shares of common stock at December 31, 2016 , 2015 and 2014 , respectively, were reserved for the exercise and future grants of option rights and future grants of restricted stock and restricted stock units. See Note 12 . Common shares outstanding shown in the following table included 488,714 , 487,900 and 487,075 shares of common stock held in a revocable trust at December 31, 2016 , 2015 and 2014 , respectively. The revocable trust is used to accumulate assets for the purpose of funding the ultimate obligation of certain non-qualified benefit plans. Transactions between the Company and the trust are accounted for in accordance with the Deferred Compensation – Rabbi Trusts Subtopic of the Compensation Topic of the ASC, which requires the assets held by the trust be consolidated with the Company’s accounts. Common Shares in Treasury Common Shares Outstanding Balance at January 1, 2014 12,772,498 100,129,380 Shares tendered as payment for option rights exercised 7,229 (7,229 ) Shares issued for exercise of option rights 1,423,395 Shares tendered in connection with grants of restricted stock 108,352 (108,352 ) Net shares issued for grants of restricted stock 191,979 Treasury stock purchased 6,925,000 (6,925,000 ) Balance at December 31, 2014 19,813,079 94,704,173 Shares tendered as payment for option rights exercised 14,542 (14,542 ) Shares issued for exercise of option rights 1,133,050 Shares tendered in connection with grants of restricted stock 111,433 (111,433 ) Net shares issued for grants of restricted stock 110,277 Treasury stock purchased 3,575,000 (3,575,000 ) Balance at December 31, 2015 23,514,054 92,246,525 Shares tendered as payment for option rights exercised 3,441 (3,441 ) Shares issued for exercise of option rights 733,876 Shares tendered in connection with grants of restricted stock 59,916 (59,916 ) Net shares issued for grants of restricted stock 95,987 Balance at December 31, 2016 23,577,411 93,013,031

Stock Purchase Plan

Stock Purchase Plan	12 Months Ended
	Dec. 31, 2016
Stock Purchase Plan [Abstract]
STOCK PURCHASE PLAN	STOCK PURCHASE PLAN As of December 31, 2016 , 36,013 employees contributed to the Company’s ESOP, a voluntary defined contribution plan available to all eligible salaried employees. Participants are allowed to contribute, on a pretax or after-tax basis, up to the lesser of twenty percent of their annual compensation or the maximum dollar amount allowed under the Internal Revenue Code. The Company matches one hundred percent of all contributions up to six percent of eligible employee contributions. Such participant contributions may be invested in a variety of investment funds or a Company common stock fund and may be exchanged between investments as directed by the participant. Participants are permitted to diversify both future and prior Company matching contributions previously allocated to the Company common stock fund into a variety of investment funds. The Company made contributions to the ESOP on behalf of participating employees, representing amounts authorized by employees to be withheld from their earnings, of $127,697 , $120,514 and $109,036 in 2016 , 2015 and 2014 , respectively. The Company’s matching contributions to the ESOP charged to operations were $85,525 , $80,356 and $74,574 for 2016 , 2015 and 2014 , respectively. At December 31, 2016 , there were 10,710,973 shares of the Company’s common stock being held by the ESOP, representing 11.5 percent of the total number of voting shares outstanding. Shares of Company common stock credited to each member’s account under the ESOP are voted by the trustee under instructions from each individual plan member. Shares for which no instructions are received are voted by the trustee in the same proportion as those for which instructions are received.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The amended and restated 2006 Employee Plan authorizes the Board of Directors, or a committee of the Board of Directors, to issue or transfer up to an aggregate of 19,200,000 shares of common stock, plus any shares relating to awards that expire, are forfeited or canceled. The Employee Plan permits the granting of option rights, appreciation rights, restricted stock, restricted stock units (RSUs), performance shares and performance units to eligible employees. At December 31, 2016 , no appreciation rights, performance shares or performance units had been granted under the 2006 Employee Plan. The 2006 Stock Plan for Nonemployee Directors (Nonemployee Director Plan) authorizes the Board of Directors, or a committee of the Board of Directors, to issue or transfer up to an aggregate of 200,000 shares of common stock, plus any shares relating to awards that expire, are forfeited or are canceled. The Nonemployee Director Plan permits the granting of option rights, appreciation rights, restricted stock and RSUs to members of the Board of Directors who are not employees of the Company. At December 31, 2016 , no option rights or appreciation rights had been granted under the Nonemployee Director Plan. The cost of the Company’s stock-based compensation is recorded in accordance with the Stock Compensation Topic of the ASC. The tax benefits associated with these share-based payments are classified as financing activities in the Statements of Consolidated Cash Flows. At December 31, 2016 , the Company had total unrecognized stock-based compensation expense of $98,080 that is expected to be recognized over a weighted-average period of 1.05 years. Stock-based compensation expense during 2016 , 2015 and 2014 was $72,109 , $72,342 and $64,735 , respectively. The related tax benefit was $27,442 , $27,634 and $24,816 during 2016 , 2015 and 2014 , respectively. Subsequent to the adoption of ASU No. 2016-09, excess tax benefits from share-based payments are recognized in the income tax provision rather than other capital (see Note 1). Therefore, in 2016 , the Company's $44,233 tax benefit from options exercised was recognized in the income tax provision. The Company issues new shares upon exercise of option rights, granting of restricted stock and vesting of RSUs. Option rights. The fair value of the Company’s option rights was estimated at the date of grant using a Black-Scholes-Merton option-pricing model with the following weighted-average assumptions for all options granted: 2016 2015 2014 Risk-free interest rate 1.24% 1.37% 1.47% Expected life of option rights 5.05 years 5.05 years 5.10 years Expected dividend yield of stock 1.06% 1.13% 1.19% Expected volatility of stock .212 .245 .223 The risk-free interest rate is based upon the U.S. Treasury yield curve at the time of grant. The expected life of option rights was calculated using a scenario analysis model. Historical data was used to aggregate the holding period from actual exercises, post-vesting cancellations and hypothetical assumed exercises on all outstanding option rights. The expected dividend yield of stock is the Company’s best estimate of the expected future dividend yield. Expected volatility of stock was calculated using historical and implied volatilities. The Company applied an estimated forfeiture rate of 2.00 percent to the 2016 grants. This rate was calculated based upon historical activity and is an estimate of granted shares not expected to vest. If actual forfeitures differ from the expected rate, the Company may be required to make additional adjustments to compensation expense in future periods. Grants of option rights for non-qualified and incentive stock options have been awarded to certain officers and key employees under the 2006 Employee Plan and the 2003 Stock Plan. The option rights generally become exercisable to the extent of one-third of the optioned shares for each full year following the date of grant and generally expire ten years after the date of grant. Unrecognized compensation expense with respect to option rights granted to eligible employees amounted to $42,622 at December 31, 2016 . The unrecognized compensation expense is being amortized on a straight-line basis over the three -year vesting period and is expected to be recognized over a weighted-average period of 1.08 years. The weighted-average per share grant date fair value of options granted during 2016 , 2015 and 2014 , respectively, was $49.36 , $50.73 and $43.11 . The total intrinsic value of exercised option rights for employees was $129,230 , $223,417 and $195,097 . The total fair value of options vested during the year was $32,476 , $32,655 and $32,313 during 2016 , 2015 and 2014 , respectively. There were no outstanding option rights for nonemployee directors for 2016 , 2015 and 2014 . A summary of the Company’s non-qualified and incentive stock option right activity is shown in the following table: 2016 2015 2014 Optioned Shares Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Optioned Shares Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Optioned Shares Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Outstanding beginning of year 5,219,506 $ 141.58 5,699,892 $ 117.31 6,484,592 $ 96.25 Granted 712,967 271.46 697,423 241.84 672,565 224.65 Exercised (733,876 ) 108.81 (1,133,287 ) 79.41 (1,421,045 ) 70.71 Forfeited (26,653 ) 232.83 (43,632 ) 193.60 (31,617 ) 158.92 Expired (8,235 ) 176.28 (890 ) 87.59 (4,603 ) 86.66 Outstanding end of year 5,163,709 $ 163.61 $ 545,531 5,219,506 $ 141.58 $ 616,866 5,699,892 $ 117.31 $ 830,647 Exercisable at end of year 3,783,755 $ 130.59 $ 522,921 3,807,351 $ 110.96 $ 565,934 4,095,246 $ 87.79 $ 717,691 The weighted-average remaining term for options outstanding at the end of 2016 , 2015 and 2014 , respectively, was 6.25 , 6.44 and 6.57 years. The weighted-average remaining term for options exercisable at the end of 2016 , 2015 and 2014 , respectively, was 5.20 , 5.47 and 5.63 years. Shares reserved for future grants of option rights, restricted stock and RSUs were 2,557,106 , 3,605,437 and 4,604,924 at December 31, 2016 , 2015 and 2014 , respectively. Restricted stock and RSUs. Grants of restricted stock and RSUs, which generally require three years of continuous employment from the date of grant before vesting and receiving the stock without restriction, have been awarded to certain officers and key employees under the 2006 Employee Plan. The February 2016 grant consisted of performance-based awards that vest at the end of a three -year period based on the Company’s achievement of specified financial goals relating to earnings per share and return on net assets employed. The February 2015 and 2014 grants consisted of a combination of performance-based awards and time-based awards. The performance based awards vest at the end of a three -year period based on the Company’s achievement of specified financial goals relating to earnings per share. The time-based awards vest at the end of a three -year period based on continuous employment. Unrecognized compensation expense with respect to grants of restricted stock and RSUs to eligible employees amounted to $53,995 at December 31, 2016 and is being amortized on a straight-line basis over the vesting period and is expected to be recognized over a weighted-average period of 0.92 years. Grants of restricted stock and RSUs have been awarded to nonemployee directors under the Nonemployee Plan. These grants generally vest and stock is received without restriction to the extent of one-third of the granted stock for each year following the date of grant. Unrecognized compensation expense with respect to grants of restricted stock and RSUs to nonemployee directors amounted to $1,463 at December 31, 2016 and is being amortized on a straight-line basis over the three -year vesting period and is expected to be recognized over a weighted-average period of 0.89 years. A summary of the Company’s restricted stock and RSU activity for the years ended December 31 is shown in the following table: 2016 2015 2014 Outstanding at beginning of year 467,744 655,276 749,382 Granted 99,662 112,494 201,412 Vested (166,405 ) (290,901 ) (294,438 ) Forfeited (3,675 ) (9,125 ) (1,080 ) Outstanding at end of year 397,326 467,744 655,276 The weighted-average per share fair value of restricted stock and RSUs granted during the year was $257.99 , $285.88 and $191.60 in 2016 , 2015 and 2014 , respectively.

Other

Other	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
OTHER	OTHER Other general expense - net . Included in Other general expense - net were the following: 2016 2015 2014 Provisions for environmental matters - net $ 42,932 $ 31,071 $ 36,046 (Gain) loss on sale or disposition of assets (30,564 ) (803 ) 1,436 Total $ 12,368 $ 30,268 $ 37,482 Provisions for environmental matters–net represent initial provisions for site-specific estimated costs of environmental investigation or remediation and increases or decreases to environmental-related accruals as information becomes available upon which more accurate costs can be reasonably estimated and as additional accounting guidelines are issued. Environmental-related accruals are not recorded net of insurance proceeds in accordance with the Offsetting Subtopic of the Balance Sheet Topic of the ASC. See Note 8 for further details on the Company’s environmental-related activities. The (gain) loss on sale or disposition of assets represents the net realized (gain) loss associated with the sale or disposal of property, plant and equipment and intangible assets previously used in the conduct of the primary business of the Company. The 2016 gain primarily relates to the sale of a closed domestic facility. Other (income) expense - net . Included in Other (income) expense - net were the following: 2016 2015 2014 Dividend and royalty income $ (4,573 ) $ (3,668 ) $ (4,864 ) Net expense from financing activities 8,667 11,091 11,367 Foreign currency transaction related losses 7,335 9,503 3,603 Other income (25,279 ) (23,880 ) (37,524 ) Other expense 9,263 13,036 12,018 Total $ (4,587 ) $ 6,082 $ (15,400 ) The Net expense from financing activities includes the net expense relating to changes in the Company’s financing fees. Foreign currency transaction related losses represent net realized losses on U.S. dollar-denominated liabilities of foreign subsidiaries and net realized and unrealized losses from foreign currency option and forward contracts. There were no material foreign currency option and forward contracts outstanding at December 31, 2016 , 2015 and 2014 . Other income and Other expense included items of revenue, gains, expenses and losses that were unrelated to the primary business purpose of the Company. Other income for the year ended December 31, 2014 included a $6,336 gain on the early termination of a customer agreement recorded in the Global Finishes Group and a $6,198 realized gain resulting from final asset valuations related to the acquisition of the U.S./Canada business of Comex recorded in the Administrative segment. There were no other items within Other income or Other expense that were individually significant.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES As disclosed in Note 1, during the second quarter of 2016, the Company adopted ASU No. 2016-09. Therefore, effective January 1, 2016, excess tax benefits for share-based payments are recognized in the income tax provision rather than in additional paid-in capital. The impact on the Company's financial statements for the year ended December 31, 2016 is summarized below: 2016 Decrease in Other capital $ 44,233 Decrease in Income taxes and increase in Net income $ 44,233 Increase in Average shares and equivalents outstanding - diluted 588,708 Increase in Basic net income per common share $ .48 Increase in Diluted net income per common share $ .40 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes using the enacted tax rates and laws that are currently in effect. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 Deferred tax assets: Exit costs, environ-mental and other similar items $ 74,535 $ 63,851 $ 56,441 Employee related and benefit items 166,313 141,974 141,670 Other items 148,910 116,302 112,149 Total deferred tax assets 389,758 322,127 310,260 Deferred tax liabilities: Depreciation and amortization 254,430 241,101 227,765 LIFO inventories 83,659 89,330 67,835 Other items 59,746 33,433 44,378 Total deferred tax liabilities 397,835 363,864 339,978 Net deferred tax liabilities $ 8,077 $ 41,737 $ 29,718 Netted against the Company’s other deferred tax assets were valuation allowances of $17,292 , $14,663 and $9,071 at December 31, 2016 , 2015 and 2014 , respectively. These reserves resulted from the uncertainty as to the realization of the tax benefits from foreign net operating losses and other foreign assets. The Company has $26,980 of domestic net operating loss carryforwards acquired through acquisitions that have expiration dates through the tax year 2037 and foreign net operating losses of $83,354 . The foreign net operating losses are related to various jurisdictions that provide for both indefinite carryforward periods and others with carryforward periods that range from the tax years 2016 to 2036. Significant components of the provisions for income taxes were as follows: 2016 2015 2014 Current: Federal $ 438,244 $ 399,677 $ 308,283 Foreign 31,125 30,145 53,045 State and local 61,402 60,319 50,049 Total current 530,771 490,141 411,377 Deferred: Federal (56,891 ) 13,505 (14,974 ) Foreign (2,121 ) (10,752 ) (7,361 ) State and local (9,229 ) 2,223 3,297 Total deferred (68,241 ) 4,976 (19,038 ) Total provisions for income taxes $ 462,530 $ 495,117 $ 392,339 The provisions for income taxes included estimated taxes payable on that portion of retained earnings of foreign subsidiaries expected to be received by the Company. The effect of the repatriation provisions of the American Jobs Creation Act of 2004 and the provisions of the Income Taxes Topic of the ASC was $313 in 2016 , $(5,895) in 2015 and $(1,887) in 2014 . Significant components of income before income taxes as used for income tax purposes, were as follows: 2016 2015 2014 Domestic $ 1,504,990 $ 1,440,511 $ 1,113,528 Foreign 90,243 108,455 144,698 $ 1,595,233 $ 1,548,966 $ 1,258,226 A reconciliation of the statutory federal income tax rate to the effective tax rate follows: 2016 2015 2014 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % Effect of: State and local income taxes 2.3 2.6 2.8 Investment vehicles (1.5 ) (1.6 ) (2.5 ) Domestic production activities (2.9 ) (2.2 ) (2.5 ) Employee share-based payments (2.8 ) Other - net (1.1 ) (1.8 ) (1.6 ) Effective tax rate 29.0 % 32.0 % 31.2 % The 2016 state and local income taxes and investment vehicles components of the effective tax rate were consistent with the 2015 tax year. The tax benefit related to domestic production activities increased in 2016 compared to 2015 due to a significant increase in domestic taxable income and qualified production activity income in 2016 compared to 2015 . The Company received a tax benefit in 2016 compared to 2015 by adopting ASU No. 2016-09. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The IRS is currently auditing refund claims that the Company filed for the 2010, 2011 and 2012 tax years. As of December 31, 2016 , there were no other income tax examinations being conducted by the IRS, however, the statute of limitations has not expired for the 2013, 2014 and 2015 tax years. As of December 31, 2016 , the Company is subject to non-U.S. income tax examinations for the tax years of 2009 through 2016 . In addition, the Company is subject to state and local income tax examinations for the tax years 2003 through 2016 . A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 Balance at beginning of year $ 33,873 $ 31,560 $ 30,997 Additions based on tax positions related to the current year 5,674 4,228 3,370 Additions for tax positions of prior years 3,890 8,450 4,428 Reductions for tax positions of prior years (5,901 ) (4,862 ) (2,349 ) Settlements (3,763 ) (968 ) (4,089 ) Lapses of Statutes of Limitations (968 ) (4,535 ) (797 ) Balance at end of year $ 32,805 $ 33,873 $ 31,560 Included in the balance of unrecognized tax benefits at December 31, 2016 , 2015 and 2014 is $27,686 , $30,007 and $28,208 in unrecognized tax benefits, the recognition of which would have an effect on the effective tax rate. Included in the balance of unrecognized tax benefits at December 31, 2016 is $2,607 related to tax positions for which it is reasonably possible that the total amounts could significantly change during the next twelve months. This amount represents a decrease in unrecognized tax benefits comprised primarily of items related to federal audits of partnership investments and expiring statutes in federal, foreign and state jurisdictions. The Company classifies all income tax related interest and penalties as income tax expense. During the years ended December 31, 2016 , 2015 and 2014 , there was an increase in income tax interest and penalties of $1,410 , $2,918 and $2,144 , respectively. At December 31, 2016 , 2015 and 2014 , the Company accrued $9,275 , $8,550 and $5,732 , respectively, for the potential payment of interest and penalties.

Net Income Per Common Share

Net Income Per Common Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
NET INCOME PER COMMON SHARE	NET INCOME PER COMMON SHARE 2016 2015 2014 Basic Average common shares outstanding 91,838,603 92,197,207 96,190,101 Net income $ 1,132,703 $ 1,053,849 $ 865,887 Net income per common share $ 12.33 $ 11.43 $ 9.00 Diluted Average common shares outstanding 91,838,603 92,197,207 96,190,101 Stock options and other contingently issuable shares (1) 2,089,921 1,826,885 1,885,334 Non-vested restricted stock grants 559,562 519,451 665,086 Average common shares outstanding assuming dilution 94,488,086 94,543,543 98,740,521 Net income $ 1,132,703 $ 1,053,849 $ 865,887 Net income per common share $ 11.99 $ 11.15 $ 8.77 (1) Stock options and other contingently issuable shares excludes 62,935 , 34,463 and 608,477 shares at December 31, 2016 , 2015 and 2014 , respectively, due to their anti-dilutive effect. Prior to 2016, the Company used the two-class method of calculating basic and diluted earnings per share as time-based restricted shares were considered a separate class of participating securities since they received non-forfeitable dividends. The time-based restricted shares represented less than 1% of outstanding shares, and therefore, the difference between basic and diluted earnings per share under the two-class method and treasury stock method was not significant. Starting in 2016, there will be no additional grants of time-based restricted shares. Accordingly, 2016 basic and diluted earnings per share are calculated using the treasury stock method, and the 2015 and 2014 calculations are presented under the treasury stock method for comparability. See Notes 2 and 14 for the impact of acquisition-related expenses and the adoption of ASU 2016-09, respectively, on 2016 basic and diluted net income per common share.

Summary of Quarterly Results of

Summary of Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data [Abstract]
SUMMARY OF QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	SUMMARY OF QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) 2016 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 2,574,024 $ 3,219,525 $ 3,279,462 $ 2,782,591 $ 11,855,602 Gross profit 1,261,745 1,635,793 1,636,289 1,388,438 5,922,265 Net income (1) 164,876 378,064 386,733 203,030 1,132,703 Net income per common share - basic (1), (2) 1.80 4.12 4.20 2.20 12.33 Net income per common share - diluted (1), (2) 1.75 3.99 4.08 2.15 11.99 2015 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 2,450,284 $ 3,132,139 $ 3,152,285 $ 2,604,596 $ 11,339,304 Gross profit 1,132,449 1,529,986 1,574,552 1,322,239 5,559,226 Net income 131,404 349,937 374,491 198,017 1,053,849 Net income per common share - basic (2) 1.42 3.79 4.06 2.16 11.43 Net income per common share - diluted (2) 1.38 3.70 3.97 2.11 11.15 (1) First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14. (2) Presented under the treasury stock method. See Note 15. Net income in the fourth quarter of 2016 included a gain on sale of assets of $30,916 , increased provisions for environmental matters of $9,330 and impairment of goodwill and trademarks of $10,688 . These non-operating items resulted in a net increase of $.03 in basic and diluted net income per common share.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES The Company leases certain stores, warehouses, manufacturing facilities, office space and equipment. Renewal options are available on the majority of leases and, under certain conditions, options exist to purchase certain properties. Rental expense for operating leases, recognized on a straight-line basis over the lease term in accordance with the Leases Topic of the ASC was $417,549 , $394,359 and $376,914 for 2016 , 2015 and 2014 , respectively. Certain store leases require the payment of contingent rentals based on sales in excess of specified minimums. Contingent rentals included in rent expense were $58,865 , $55,890 and $52,379 in 2016 , 2015 and 2014 , respectively. Rental income, as lessor, from real estate leasing activities and sublease rental income for all years presented was not significant. The following schedule summarizes the future minimum lease payments under noncancellable operating leases having initial or remaining terms in excess of one year at December 31, 2016 : 2017 $ 342,565 2018 301,546 2019 257,466 2020 214,084 2021 158,427 Later years 326,241 Total minimum lease payments $ 1,600,329

Reportable Segment Information

Reportable Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
REPORTABLE SEGMENT INFORMATION	REPORTABLE SEGMENT INFORMATION The Company reports its segment information in the same way that management internally organizes its business for assessing performance and making decisions regarding allocation of resources in accordance with the Segment Reporting Topic of the ASC. The Company has determined that it has four reportable operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group (individually, a "Reportable Segment" and collectively, the “Reportable Segments”). Factors considered in determining the four Reportable Segments of the Company include the nature of business activities, the management structure directly accountable to the Company’s chief operating decision maker (CODM) for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors. The Company reports all other business activities and immaterial operating segments that are not reportable in the Administrative segment. See pages 8 through 17 of this report for more information about the Reportable Segments. The Company’s CODM has been identified as the Chief Executive Officer because he has final authority over performance assessment and resource allocation decisions. Because of the diverse operations of the Company, the CODM regularly receives discrete financial information about each Reportable Segment as well as a significant amount of additional financial information about certain divisions, business units or subsidiaries of the Company. The CODM uses all such financial information for performance assessment and resource allocation decisions. The CODM evaluates the performance of and allocates resources to the Reportable Segments based on profit or loss before income taxes and cash generated from operations. The accounting policies of the Reportable Segments are the same as those described in Note 1 of this report. The Paint Stores Group consisted of 4,180 company-operated specialty paint stores in the United States, Canada, Puerto Rico, Virgin Islands, Grenada, Trinidad and Tobago, St. Maarten, Jamaica, Curacao, Aruba, St. Lucia and Barbados at December 31, 2016 . Each store in this segment is engaged in the related business activity of selling paint, coatings and related products to end-use customers. The Paint Stores Group markets and sells Sherwin-Williams ® branded architectural paint and coatings, protective and marine products, OEM product finishes and related items. These products are produced by manufacturing facilities in the Consumer Group. In addition, each store sells select purchased associated products. The loss of any single customer would not have a material adverse effect on the business of this segment. During 2016 , this segment opened 94 net new stores, consisting of 109 new stores opened ( 86 in the United States, 21 in Canada, 1 in Aruba and 1 in Barbados) and 15 stores closed ( 9 in the United States and 6 in Canada). In 2015 and 2014 , this segment opened 83 and 95 net new stores, respectively. A map on the cover flap of this report shows the number of paint stores and their geographic location. The CODM uses discrete financial information about the Paint Stores Group, supplemented with information by geographic region, product type and customer type, to assess performance of and allocate resources to the Paint Stores Group as a whole. In accordance with ASC 280-10-50-9, the Paint Stores Group as a whole is considered the operating segment, and because it meets the criteria in ASC 280-10-50-10, it is also considered a Reportable Segment. The Consumer Group develops, manufactures and distributes a variety of paint, coatings and related products to third-party customers primarily in the United States and Canada and the Paint Stores Group. Approximately 64 percent of the total sales of the Consumer Group in 2016 were intersegment transfers of products primarily sold through the Paint Stores Group. Sales and marketing of certain controlled brand and private labeled products is performed by a direct sales staff. The products distributed through third-party customers are intended for resale to the ultimate end-user of the product. The Consumer Group had sales to certain customers that, individually, may be a significant portion of the sales of the segment. However, the loss of any single customer would not have a material adverse effect on the overall profitability of the segment. This segment incurred most of the Company’s capital expenditures related to ongoing environmental compliance measures at sites currently in operation. The CODM uses discrete financial information about the Consumer Group, supplemented with information by product type and customer type, to assess performance of and allocate resources to the Consumer Group as a whole. In accordance with ASC 280-10-50-9, the Consumer Group as a whole is considered the operating segment, and because it meets the criteria in ASC 280-10-50-10, it is also considered a Reportable Segment. The Global Finishes Group develops, licenses, manufactures, distributes and sells a variety of protective and marine products, automotive finishes and refinish products, OEM product finishes and related products in North and South America, Europe and Asia. This segment meets the demands of its customers for a consistent worldwide product development, manufacturing and distribution presence and approach to doing business. This segment licenses certain technology and trade names worldwide. Sherwin-Williams ® and other controlled brand products are distributed through the Paint Stores Group and this segment’s 288 company-operated branches and by a direct sales staff and outside sales representatives to retailers, dealers, jobbers, licensees and other third-party distributors. During 2016 , this segment opened 5 new branches ( 3 in the United States and 2 in Canada) and closed 13 branches ( 10 in the United States, 2 in Canada and 1 in Chile) for a net decrease of 8 branches. At December 31, 2016 , the Global Finishes Group consisted of operations in the United States and subsidiaries in 34 foreign countries. The CODM uses discrete financial information about the Global Finishes Group reportable segment, supplemented with information about geographic divisions, business units and subsidiaries, to assess performance of and allocate resources to the Global Finishes Group as a whole. In accordance with ASC 280-10-50-9, the Global Finishes Group as a whole is considered the operating segment, and because it meets the criteria in ASC 280-10-50-10, it is also considered a Reportable Segment. A map on the cover flap of this report shows the number of branches and their geographic locations. The Latin America Coatings Group develops, licenses, manufactures, distributes and sells a variety of architectural paint and coatings, protective and marine products, OEM product finishes and related products in North and South America. This segment meets the demands of its customers for consistent regional product development, manufacturing and distribution presence and approach to doing business. Sherwin-Williams ® and other controlled brand products are distributed through this segment’s 339 company-operated stores and by a direct sales staff and outside sales representatives to retailers, dealers, licensees and other third-party distributors. During 2016 , this segment opened 49 new stores ( 31 in South America and 18 in Mexico) and closed 1 store in South America for a net increase of 48 stores. At December 31, 2016 , the Latin America Coatings Group consisted of operations from subsidiaries in 9 foreign countries and 4 foreign joint ventures. The CODM uses discrete financial information about the Latin America Coatings Group, supplemented with information about geographic divisions, business units and subsidiaries, to assess performance of and allocate resources to the Latin America Coatings Group as a whole. In accordance with ASC 280-10-50-9, the Latin America Coatings Group as a whole is considered the operating segment, and because it meets the criteria in ASC 280-10-50-10, it is also considered a Reportable Segment. A map on the cover flap of this report shows the number of stores and their geographic locations. The Administrative segment includes the administrative expenses of the Company’s corporate headquarters site. Also included in the Administrative segment was interest expense, interest and investment income, certain expenses related to closed facilities and environmental-related matters, and other expenses which were not directly associated with the Reportable Segments. The Administrative segment did not include any significant foreign operations. Also included in the Administrative segment was a real estate management unit that is responsible for the ownership, management and leasing of non-retail properties held primarily for use by the Company, including the Company’s headquarters site, and disposal of idle facilities. Sales of this segment represented external leasing revenue of excess headquarters space or leasing of facilities no longer used by the Company in its primary businesses. Material gains and losses from the sale of property are infrequent and not a significant operating factor in determining the performance of the Administrative segment. Net external sales of all consolidated foreign subsidiaries were $1,722,246 , $1,788,955 and $2,203,804 for 2016 , 2015 and 2014 , respectively. Segment profit of all consolidated foreign subsidiaries was $60,059 , $75,773 and $115,629 for 2016 , 2015 and 2014 , respectively. Net external sales and segment profit were adversely affected by unfavorable currency translation rate changes. Domestic operations accounted for the remaining net external sales and segment profits. Long-lived assets consisted of Property, plant and equipment, Goodwill, Intangible assets, Deferred pension assets and Other assets. The aggregate total of long-lived assets for the Company was $3,125,222 , $3,132,981 and, $3,139,272 at December 31, 2016 , 2015 and 2014 , respectively. Long-lived assets of consolidated foreign subsidiaries totaled $477,889 , $497,528 and $551,364 at December 31, 2016 , 2015 and 2014 , respectively. Total Assets of the Company were $6,752,521 , $5,778,937 and $5,699,333 at December 31, 2016 , 2015 and 2014 , respectively. Total assets of consolidated foreign subsidiaries were $1,233,666 , $1,172,064 and $1,359,991 , which represented 18.3 percent , 20.3 percent and 23.9 percent of the Company’s total assets at December 31, 2016 , 2015 and 2014 , respectively. No single geographic area outside the United States was significant relative to consolidated net sales or operating profits. Export sales and sales to any individual customer were each less than 10 percent of consolidated sales to unaffiliated customers during all years presented. In the reportable segment financial information that follows, Segment profit was total net sales and intersegment transfers less operating costs and expenses. Identifiable assets were those directly identified with each reportable segment. The Administrative segment assets consisted primarily of cash and cash equivalents, investments, deferred pension assets and headquarters property, plant and equipment. The margin for each reportable segment was based upon total net sales and intersegment transfers. Domestic intersegment transfers were primarily accounted for at the approximate fully absorbed manufactured cost, based on normal capacity volumes, plus customary distribution costs for paint products. Non-paint domestic and all international intersegment transfers were accounted for at values comparable to normal unaffiliated customer sales. All intersegment transfers are eliminated within the Administrative segment. (millions of dollars) 2016 Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Administrative Consolidated Totals Net external sales $ 7,790 $ 1,585 $ 1,889 $ 587 $ 5 $ 11,856 Intersegment transfers 2,775 15 39 (2,829 ) Total net sales and intersegment transfers $ 7,790 $ 4,360 $ 1,904 $ 626 $ (2,824 ) $ 11,856 Segment profit (loss) (1) $ 1,623 $ 319 $ 239 $ (17 ) $ 2,164 Interest expense (2) $ (154 ) (154 ) Administrative expenses and other (3) (415 ) (415 ) Income before income taxes $ 1,623 $ 319 $ 239 $ (17 ) $ (569 ) $ 1,595 Reportable segment margins 20.8 % 7.3 % 12.6 % (2.7 )% Identifiable assets $ 1,779 $ 2,005 $ 818 $ 369 $ 1,782 $ 6,753 Capital expenditures 80 99 19 19 22 239 Depreciation 69 47 20 7 29 172 (1) Latin America Coatings Group's segment loss includes goodwill and trademark impairment of $10.7 million. (2) Includes costs associated with the anticipated acquisition of Valspar totaling $72.8 million. (3) Includes costs associated with the anticipated acquisition of Valspar totaling $58.4 million. 2015 Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Administrative Consolidated Totals Net external sales $ 7,209 $ 1,578 $ 1,916 $ 631 $ 5 $ 11,339 Intersegment transfers 2,736 5 40 (2,781 ) Total net sales and intersegment transfers $ 7,209 $ 4,314 $ 1,921 $ 671 $ (2,776 ) $ 11,339 Segment profit $ 1,434 $ 309 $ 202 $ 18 $ 1,963 Interest expense $ (62 ) (62 ) Administrative expenses and other (352 ) (352 ) Income before income taxes $ 1,434 $ 309 $ 202 $ 18 $ (414 ) $ 1,549 Reportable segment margins 19.9 % 7.2 % 10.5 % 2.7 % Identifiable assets $ 1,685 $ 1,925 $ 814 $ 352 $ 1,003 $ 5,779 Capital expenditures 119 61 21 14 19 234 Depreciation 64 47 25 8 26 170 2014 Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Administrative Consolidated Totals Net external sales $ 6,852 $ 1,421 $ 2,081 $ 771 $ 5 $ 11,130 Intersegment transfers 2,745 8 40 (2,793 ) Total net sales and intersegment transfers $ 6,852 $ 4,166 $ 2,089 $ 811 $ (2,788 ) $ 11,130 Segment profit $ 1,201 $ 253 $ 201 $ 40 $ 1,695 Interest expense $ (64 ) (64 ) Administrative expenses and other (373 ) (373 ) Income before income taxes $ 1,201 $ 253 $ 201 $ 40 $ (437 ) $ 1,258 Reportable segment margins 17.5 % 6.1 % 9.6 % 4.9 % Identifiable assets $ 1,602 $ 1,883 $ 874 $ 427 $ 913 $ 5,699 Capital expenditures 87 45 16 8 45 201 Depreciation 58 48 28 9 26 169

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts and Reserves (Schedule II)	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts and Reserves (Schedule II)	Valuation and Qualifying Accounts and Reserves (Schedule II) Changes in the allowance for doubtful accounts were as follows: (thousands of dollars) 2016 2015 2014 Beginning balance $ 49,420 $ 53,770 $ 54,460 Bad debt expense 29,869 30,393 34,810 Uncollectible accounts written off, net of recoveries (38,839 ) (34,743 ) (35,500 ) Ending balance $ 40,450 $ 49,420 $ 53,770

Significant Accounting Polici28

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation	Consolidation. The consolidated financial statements include the accounts of The Sherwin-Williams Company and its wholly owned subsidiaries (collectively, “the Company”). Inter-company accounts and transactions have been eliminated.
Use of estimates	Use of estimates. The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those amounts.
Nature of operations	Nature of operations. The Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America, with additional operations in the Caribbean region, Europe and Asia.
Cash and Cash equivalents	Cash flows. Management considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents: The carrying amounts reported for Cash and cash equivalents approximate fair value.
Short-term investments	Short-term investments: The carrying amounts reported for Short-term investments approximate fair value.
Investments in securities	Investments in securities: Investments classified as available-for-sale are carried at market value. See the recurring fair value measurement table on page 45 .
Non-traded investments	Non-traded investments: The Company has investments in the U.S. affordable housing and historic renovation real estate markets and certain other investments that have been identified as variable interest entities. However, because the Company does not have the power to direct the day-to-day operations of the investments and the risk of loss is limited to the amount of contributed capital, the Company is not considered the primary beneficiary. In accordance with the Consolidation Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), the investments are not consolidated. For affordable housing investments entered into prior to the January 1, 2015 adoption of Accounting Standard Update (ASU) No. 2014-01, the Company uses the effective yield method to determine the carrying value of the investments. Under the effective yield method, the initial cost of the investments is amortized to income tax expense over the period that the tax credits are recognized. For affordable housing investments entered into on or after the January 1, 2015 adoption of ASU No. 2014-01, the Company uses the proportional amortization method. Under the proportional amortization method, the initial cost of the investments is amortized to income tax expense in proportion to the tax credits and other tax benefits received.
Short-term borrowings and Long-term debt (including current portion)	Short-term borrowings: The carrying amounts reported for Short-term borrowings approximate fair value. Long-term debt (including current portion): The fair values of the Company’s publicly traded debt, shown below, are based on quoted market prices. The fair values of the Company’s non-traded debt, also shown below, are estimated using discounted cash flow analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The Company's publicly traded debt and non-traded debt are classified as level 1 and level 2, respectively, in the fair value hierarchy. See Note 7 .
Derivative instruments	Derivative instruments: The Company utilizes derivative instruments as part of its overall financial risk management policy. The Company entered into foreign currency option and forward currency exchange contracts with maturity dates of less than twelve months in 2016, 2015, and 2014, primarily to hedge against value changes in foreign currency. See Note 13 . There were no material foreign currency option and forward contracts outstanding at December 31, 2016, 2015 and 2014. In 2016, the Company entered into a series of interest rate lock agreements which were designated as cash flow hedges. See Note 7.
Fair value measurements	Assets and Liabilities Reported at Fair Value on a Nonrecurring Basis. As a result of the 2016 annual goodwill impairment test performed in accordance with the Intangibles Topic of the ASC, goodwill with a carrying value of $10,455 was written-off, resulting in an impairment charge of $10,455 . As a result of the 2016 annual trademark impairment test performed in accordance with the Intangibles Topic of the ASC, a trademark with a carrying value of $2,114 was written-down to its calculated fair value of $1,881 , resulting in an impairment charge of $233 . These fair value measurements qualify as level 2 measurements. See Note 4. Fair value measurements. The following tables summarize the Company’s assets and liabilities measured on a recurring and non-recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC:
Accounts receivable and allowance for doubtful accounts	Accounts receivable and allowance for doubtful accounts. Accounts receivable were recorded at the time of credit sales net of provisions for sales returns and allowances. The Company recorded an allowance for doubtful accounts of $40,450 , $49,420 and $53,770 at December 31, 2016 , 2015 and 2014 , respectively, to reduce Accounts receivable to their estimated net realizable value. The allowance was based on an analysis of historical bad debts, a review of the aging of Accounts receivable and the current creditworthiness of customers. Account receivable balances are written-off against the allowance if a final determination of uncollectibility is made. All provisions for allowances for doubtful collection of accounts are related to the creditworthiness of accounts and are included in Selling, general and administrative expenses.
Reserve for obsolescence	Reserve for obsolescence. The Company recorded a reserve for obsolescence of $87,715 , $91,217 and $90,712 at December 31, 2016 , 2015 and 2014 , respectively, to reduce Inventories to their estimated net realizable value.
Goodwill	Goodwill. Goodwill represents the cost in excess of fair value of net assets acquired in business combinations accounted for by the purchase method. In accordance with the Intangibles Topic of the ASC, goodwill is tested for impairment on an annual basis and in between annual tests if events or circumstances indicate potential impairment. See Note 4 .
Intangible assets	Intangible assets. Intangible assets include trademarks, non-compete covenants and certain intangible property rights. As required by the Goodwill and Other Intangibles Topic of the ASC, indefinite-lived trademarks are not amortized, but instead are tested annually for impairment, and between annual tests whenever an event occurs or circumstances indicate potential impairment. See Note 4 . The cost of finite-lived trademarks, non-compete covenants and certain intangible property rights are amortized on a straight-line basis over the expected period of benefit as follows: Useful Life Finite-lived trademarks 5 years Non-compete covenants 3 – 5 years Certain intangible property rights 3 – 19 years
Impairment of long-lived assets	Impairment of long-lived assets. In accordance with the Property, Plant and Equipment Topic of the ASC, management evaluates the recoverability and estimated remaining lives of long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. See Notes 4 and 5 .
Property, plant and equipment	Property, plant and equipment. Property, plant and equipment is stated on the basis of cost. Depreciation is provided by the straight-line method. Depreciation and amortization are included in the appropriate Cost of goods sold or Selling, general and administrative expense caption on the Statements of Consolidated Income. Included in Property, plant and equipment are leasehold improvements. The major classes of assets and ranges of annual depreciation rates are: Buildings 4.0% – 20.0% Machinery and equipment 10.0% – 20.0% Furniture and fixtures 10.0% – 20.0% Automobiles and trucks 10.0% – 33.3%
Standby letters of credit	Standby letters of credit. The Company occasionally enters into standby letter of credit agreements to guarantee various operating activities. These agreements provide credit availability to the various beneficiaries if certain contractual events occur.
Product warranties	Product warranties. The Company offers product warranties for certain products. The specific terms and conditions of such warranties vary depending on the product or customer contract requirements. Management estimated the costs of unsettled product warranty claims based on historical results and experience and included an amount in Other accruals. Management periodically assesses the adequacy of the accrual for product warranty claims and adjusts the accrual as necessary.
Environmental matters	Environmental matters. Capital expenditures for ongoing environmental compliance measures were recorded in Property, plant and equipment, and related expenses were included in the normal operating expenses of conducting business. The Company is involved with environmental investigation and remediation activities at some of its currently and formerly owned sites and at a number of third-party sites. The Company accrued for environmental-related activities for which commitments or clean-up plans have been developed and when such costs could be reasonably estimated based on industry standards and professional judgment. All accrued amounts were recorded on an undiscounted basis. Environmental-related expenses included direct costs of investigation and remediation and indirect costs such as compensation and benefits for employees directly involved in the investigation and remediation activities and fees paid to outside engineering, consulting and law firms. See Notes 8 and 13 .
Employee Stock Purchase and Savings Plan	Employee Stock Purchase and Savings Plan. The Company accounts for the Employee Stock Purchase and Savings Plan (ESOP) in accordance with the Employee Stock Ownership Plans Subtopic of the Compensation – Stock Ownership Topic of the ASC. The Company recognized compensation expense for amounts contributed to the ESOP. See Note 11 .
Defined benefit pension and other postretirement benefit plans	Defined benefit pension and other postretirement benefit plans. The Company accounts for its defined benefit pension and other postretirement benefit plans in accordance with the Retirement Benefits Topic of the ASC, which requires the recognition of a plan’s funded status as an asset for overfunded plans and as a liability for unfunded or underfunded plans. See Note 6 .
Stock-based compensation	Stock-based compensation. The cost of the Company’s stock-based compensation is recorded in accordance with the Stock Compensation Topic of the ASC. See Note 12 .
Foreign currency translation	Foreign currency translation. All consolidated non-highly inflationary foreign operations use the local currency of the country of operation as the functional currency and translated the local currency asset and liability accounts at year-end exchange rates while income and expense accounts were translated at average exchange rates. The resulting translation adjustments were included in Cumulative other comprehensive loss, a component of Shareholders’ equity.
Cumulative other comprehensive loss	Cumulative other comprehensive loss. At December 31, 2016 , the ending balance of Cumulative other comprehensive loss included adjustments for foreign currency translation of $501,277 , net prior service costs and net actuarial losses related to pension and other postretirement benefit plans of $125,096 , unrealized net gains on marketable equity securities of $1,015 and unrealized net gains on interest rate lock cash flow hedges of $85,007 . At December 31, 2015 and 2014 , the ending balance of Cumulative other comprehensive loss included adjustments for foreign currency translation of $482,629 and $354,384 , respectively, net prior service costs and net actuarial losses related to pension and other postretirement benefit plans of $104,346 and $118,167 , respectively, and unrealized losses and gains on marketable equity securities of $120 and $593 , respectively.
Revenue recognition	Revenue recognition. The Company recognized revenue when products were shipped and title passed to unaffiliated customers. Collectibility of amounts recorded as revenue was reasonably assured at the time of recognition. Third-party service revenue. The Company used subcontractors to provide installation services for customers. Under these arrangements, the Company invoiced the customer for both the product and installation and remitted payment to the subcontractor for the installation. Starting in the third quarter of 2016, the Company recorded the installation revenue in Net sales and the payments to subcontractors in Cost of goods sold. Prior to the third quarter, these amounts were netted and immaterial.
Customer and vendor consideration	Customer and vendor consideration. The Company offered certain customers rebate and sales incentive programs which were classified as reductions in Net sales. Such programs were in the form of volume rebates, rebates that constituted a percentage of sales or rebates for attaining certain sales goals. The Company received consideration from certain suppliers of raw materials in the form of volume rebates or rebates that constituted a percentage of purchases. These rebates were recognized on an accrual basis by the Company as a reduction of the purchase price of the raw materials and a subsequent reduction of Cost of goods sold when the related product was sold.
Costs of goods sold	Costs of goods sold. Included in Costs of goods sold were costs for materials, manufacturing, distribution and related support. Distribution costs included all expenses related to the distribution of products including inbound freight charges, purchase and receiving costs, warehousing costs, internal transfer costs and all costs incurred to ship products. Also included in Costs of goods sold were total technical expenditures, which included research and development costs, quality control, product formulation expenditures and other similar items.
Selling, general and administrative expenses	Selling, general and administrative expenses. Selling costs included advertising expenses, marketing costs, employee and store costs and sales commissions. The cost of advertising was expensed as incurred. The Company incurred $351,002 , $338,188 and $299,201 in advertising costs during 2016 , 2015 and 2014 , respectively. General and administrative expenses included human resources, legal, finance and other support and administrative functions.
Earnings per share	Earnings per share. Common stock held in a revocable trust (see Note 10 ) was not included in outstanding shares for basic or diluted income per common share calculations. All references to “shares” or “per share” information throughout this report relate to common shares and are stated on a diluted per common share basis, unless otherwise indicated. Basic and diluted net income per common share were calculated using the treasury stock method in accordance with the Earnings Per Common Share Topic of the ASC. Basic net income per common share amounts were computed based on the weighted-average number of common shares outstanding during the year. Diluted net income per common share amounts were computed based on the weighted-average number of common shares outstanding plus all dilutive securities potentially outstanding during the year. See Note 15 .
Impact of recently issued accounting standards	Impact of recently issued accounting standards. During the second quarter of 2016, the Company early adopted, as permitted, ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which simplifies various provisions related to how share-based payments are accounted for and presented in the financial statements. Excess tax benefits for share-based payments are no longer recognized in other capital on the balance sheet and are instead recognized in the income tax provision on the income statement. As a result, excess tax benefits for share-based payments are now included in Net operating cash rather than Net financing cash. The changes have been applied prospectively beginning on January 1, 2016 in accordance with the ASU and prior years have not been restated. See Note 14 for additional information. Effective January 1, 2016, the Company adopted ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires companies to present debt issuance costs associated with a debt liability as a deduction from the carrying amount of that debt liability on the balance sheet rather than being capitalized as an asset. The changes have been applied retrospectively. The adoption of this ASU did not have a material effect on the Company's results of operations, financial condition or liquidity. Effective January 1, 2016, the Company adopted ASU No. 2015-07, "Disclosures for Investments in Certain Entities That Calculate Net Asset Value Per Share (Or Its Equivalent)." This ASU removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share (or its equivalent) practical expedient. The adoption of this ASU affects the Company's year-end disclosure of the fair value of pension assets, but there is no effect on the Company's results of operations, financial condition or liquidity. In February 2016, the FASB issued ASU No. 2016-02, “Leases,” which consists of a comprehensive lease accounting standard. Under the new standard, assets and liabilities arising from most leases will be recognized on the balance sheet. Leases will be classified as either operating or financing, and the lease classification will determine whether expense is recognized on a straight line basis (operating leases) or based on an effective interest method (financing leases). The new standard is effective for interim and annual periods beginning after December 15, 2018. A modified retrospective transition approach is required with certain practical expedients available. The Company has made significant progress with its assessment process, and anticipates this standard will have a material impact on its consolidated balance sheet. While the Company continues to assess all potential impacts of the standard, it currently believes the most significant impact relates to recording lease assets and related liabilities on the balance sheet for the Paint Store Group's retail operations. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities,” which amends the guidance for certain aspects of recognition, measurement and disclosure of financial instruments. The standard is effective for interim and annual periods beginning after December 31, 2017, and early adoption is not permitted. The Company is in the process of evaluating the impact of the standard. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes," which eliminates the requirement for separate presentation of current and non-current portions of deferred tax. All deferred tax assets and deferred tax liabilities will be presented as non-current on the balance sheet. The standard is effective for interim and annual periods beginning after December 15, 2016. Either retrospective or prospective presentation can be used. The Company will adopt ASU No. 2015-17 as required. The ASU will not have a material effect on the Company's results of operations, financial condition or liquidity. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which consists of a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP. The issuance of ASU No. 2015-14 in August 2015 delays the effective date of the standard to interim and annual periods beginning after December 15, 2017. Either full retrospective adoption or modified retrospective adoption is permitted. In addition to expanded disclosures regarding revenue, this pronouncement may impact timing of recognition in some arrangements with variable consideration or contracts for the sale of goods or services. The Company has made significant progress with its assessment process. In addition, the Company is currently developing plans for enhancements to its information systems and internal controls in response to the new rule requirements. The Company plans to adopt the standard using the full retrospective method of adoption, which requires the restatement of prior periods presented. The Company expects to have expanded disclosures in the consolidated financial statements and is in process of evaluating the impact on the results of operations, financial condition and liquidity.
Reclassification	Reclassification. Certain amounts in the notes to the consolidated financial statements for 2014 and 2015 have been reclassified to conform to the 2016 presentation.
Inventories	Inventories were stated at the lower of cost or market with cost determined principally on the last-in, first-out (LIFO) method. The following presents the effect on inventories, net income and net income per common share had the Company used the first-in, first-out (FIFO) inventory valuation method adjusted for income taxes at the statutory rate and assuming no other adjustments. Management believes that the use of LIFO results in a better matching of costs and revenues. This information is presented to enable the reader to make comparisons with companies using the FIFO method of inventory valuation.

Significant Accounting Polici29

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Carrying amount and fair value of debt	The fair values of the Company’s non-traded debt, also shown below, are estimated using discounted cash flow analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The Company's publicly traded debt and non-traded debt are classified as level 1 and level 2, respectively, in the fair value hierarchy. See Note 7 . December 31, 2016 2015 2014 Carrying Fair Carrying Fair Carrying Fair Amount Value Amount (1) Value Amount (1) Value Publicly traded debt $ 1,907,704 $ 1,912,646 $ 1,905,650 $ 1,960,169 $ 1,114,205 $ 1,160,280 Non-traded debt 4,097 3,783 4,782 4,555 5,056 4,812 (1) Revised due to the adoption of ASU No. 2015-03. See Impact of recently issued accounting standards section.
Assets and liabilities reported at fair value on a recurring basis	The following tables summarize the Company’s assets and liabilities measured on a recurring and non-recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC: Assets and Liabilities Reported at Fair Value on a Recurring Basis Fair Value at December 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Deferred compensation plan asset (1) $ 27,452 $ 3,802 $ 23,650 Interest rate lock asset (2) 137,233 137,233 Total assets $ 164,685 $ 3,802 $ 160,883 Liabilities: Deferred compensation plan liability (3) $ 37,717 $ 37,717 (1) The deferred compensation plan asset consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plan, which is structured as a rabbi trust. The investments are marketable securities accounted for under the Debt and Equity Securities Topic of the ASC. The level 1 investments are valued using quoted market prices multiplied by the number of shares. The level 2 investments are valued based on vendor or broker models. The cost basis of the investment funds is $26,357 . (2) The interest rate lock asset is measured at the present value of the expected future cash flows using market-based observable inputs. See note 7. (3) The deferred compensation plan liability represents the value of the Company’s liability under its deferred compensation plan based on quoted market prices in active markets for identical assets.
Useful lives of intangible assets	The cost of finite-lived trademarks, non-compete covenants and certain intangible property rights are amortized on a straight-line basis over the expected period of benefit as follows: Useful Life Finite-lived trademarks 5 years Non-compete covenants 3 – 5 years Certain intangible property rights 3 – 19 years
Classes of assets and ranges of annual depreciation rates	The major classes of assets and ranges of annual depreciation rates are: Buildings 4.0% – 20.0% Machinery and equipment 10.0% – 20.0% Furniture and fixtures 10.0% – 20.0% Automobiles and trucks 10.0% – 33.3%
Company's accrual for product warranty claims	Changes in the Company’s accrual for product warranty claims during 2016 , 2015 and 2014 , including customer satisfaction settlements during the year, were as follows: 2016 2015 2014 Balance at January 1 $ 31,878 $ 27,723 $ 26,755 Charges to expense 38,954 43,484 37,879 Settlements (36,413 ) (39,329 ) (36,911 ) Balance at December 31 $ 34,419 $ 31,878 $ 27,723

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories	2016 2015 2014 Percentage of total inventories on LIFO 79 % 78 % 76 % Excess of FIFO over LIFO $ 253,353 $ 251,060 $ 331,867 (Decrease) increase in net (1,421 ) 49,658 3,230 (Decrease) increase in net (.02 ) .53 .03

Goodwill, Intangible and Long31

Goodwill, Intangible and Long-Lived Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill by reportable segment	A summary of changes in the Company’s carrying value of goodwill by Reportable Segment is as follows: Goodwill Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Consolidated Totals Balance at January 1, 2014 (1) $ 287,300 $ 703,351 $ 178,298 $ 9,738 $ 1,178,687 Currency and other adjustments (1,866 ) (1,145 ) (17,287 ) (43 ) (20,341 ) Balance at December 31, 2014 (1) 285,434 702,206 161,011 9,695 1,158,346 Currency and other adjustments (28 ) (1,135 ) (13,801 ) (49 ) (15,013 ) Balance at December 31, 2015 (1) 285,406 701,071 147,210 9,646 1,143,333 Impairment charged to operations (10,455 ) (10,455 ) Currency and other adjustments 4 (1,197 ) (5,602 ) 809 (5,986 ) Balance at December 31, 2016 (2) $ 285,410 $ 699,874 $ 141,608 $ — $ 1,126,892 (1) Net of accumulated impairment losses of $8,904 ( $8,113 in the Consumer Group and $791 in the Global Finishes Group). (2) Net of accumulated impairment losses of $19,359 ( $8,113 in the Consumer Group, $791 in the Global Finishes Group and $10,455 in the Latin America Coatings Group).
Carrying value of intangible assets	A summary of the Company’s carrying value of intangible assets is as follows: Finite-lived intangible assets Trademarks with indefinite lives Total intangible assets Software All other Subtotal December 31, 2016 Weighted-average amortization period 7 years 11 years 10 years Gross $ 144,557 $ 313,613 $ 458,170 Accumulated amortization (103,735 ) (240,217 ) (343,952 ) Net value $ 40,822 $ 73,396 $ 114,218 $ 140,792 $ 255,010 December 31, 2015 Weighted-average amortization period 8 years 12 years 11 years Gross $ 123,863 $ 312,119 $ 435,982 Accumulated amortization (95,008 ) (228,921 ) (323,929 ) Net value $ 28,855 $ 83,198 $ 112,053 $ 143,318 $ 255,371 December 31, 2014 Weighted-average amortization period 8 years 12 years 11 years Gross $ 126,258 $ 317,005 $ 443,263 Accumulated amortization (88,384 ) (215,518 ) (303,902 ) Net value $ 37,874 $ 101,487 $ 139,361 $ 149,766 $ 289,127

Exit or Disposal Activities (Ta

Exit or Disposal Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Summary of activity and remaining liabilities associated with qualified exit costs	The following tables summarize the activity and remaining liabilities associated with qualified exit costs: (Thousands of dollars) Balance at December 31, 2015 Provisions in Actual Balance at December 31, 2016 Consumer Group facilities shutdown in 2016: Severance and related costs $ 1,020 $ (113 ) $ 907 Global Finishes Group stores shutdown in 2016: Severance and related costs 136 136 Other qualified exit costs 369 (100 ) 269 Paint Stores Group stores shutdown in 2015: Other qualified exit costs $ 12 481 (298 ) 195 Global Finishes Group stores shutdown in 2015: Severance and related costs 1,096 (1,096 ) Other qualified exit costs 2,750 499 (2,816 ) 433 Paint Stores Group stores shutdown in 2014: Other qualified exit costs 184 (81 ) 103 Consumer Group facilities shutdown in 2014: Severance and related costs 445 (46 ) 399 Other qualified exit costs 52 (39 ) 13 Global Finishes Group exit of business in 2014: Severance and related costs 430 (430 ) Other qualified exit costs 353 430 (600 ) 183 Severance and other qualified exit costs for facilities shutdown prior to 2014 1,755 103 (648 ) 1,210 Totals $ 7,077 $ 3,038 $ (6,267 ) $ 3,848 (Thousands of dollars) Balance at December 31, 2014 Provisions in Actual Balance at December 31, 2015 Paint Stores Group stores shutdown in 2015: Other qualified exit costs $ 168 $ (156 ) $ 12 Global Finishes Group stores shutdown in 2015: Severance and related costs 1,341 (245 ) 1,096 Other qualified exit costs 6,988 (4,238 ) 2,750 Paint Stores Group stores shutdown in 2014: Other qualified exit costs $ 280 142 (238 ) 184 Consumer Group facilities shutdown in 2014: Severance and related costs 2,732 466 (2,753 ) 445 Other qualified exit costs 781 6 (735 ) 52 Global Finishes Group exit of business in 2014: Severance and related costs 104 326 430 Other qualified exit costs 1,080 324 (1,051 ) 353 Paint Stores Group facility shutdown in 2013: Severance and related costs 654 (654 ) Other qualified exit costs 1,205 (411 ) 794 Global Finishes Group stores shutdown in 2013: Severance and related costs 28 (28 ) Other qualified exit costs 138 (138 ) Severance and other qualified exit costs for facilities shutdown prior to 2013 1,514 (553 ) 961 Totals $ 8,516 $ 9,761 $ (11,200 ) $ 7,077 Exit Plan Balance at December 31, 2013 Provisions in Actual Balance at December 31, 2014 Paint Stores Group stores shutdown in 2014: Other qualified exit costs $ 280 $ 280 Consumer Group facilities shutdown in 2014: Severance and related costs 4,028 $ (1,296 ) 2,732 Other qualified exit costs 781 781 Global Finishes Group exit of business in 2014: Severance and related costs 2,500 (2,396 ) 104 Other qualified exit costs 2,267 (1,187 ) 1,080 Paint Stores Group facility shutdown in 2013: Severance and related costs $ 977 2,126 (2,449 ) 654 Other qualified exit costs 1,499 (294 ) 1,205 Consumer Group facilities shutdown in 2013: Severance and related costs 598 97 (695 ) Global Finishes Group stores shutdown in 2013: Severance and related costs 33 (5 ) 28 Other qualified exit costs 220 (82 ) 138 Latin America Coatings Group facilities shutdown in 2013: Severance and related costs 123 (123 ) Paint Stores Group stores shutdown in 2012: Other qualified exit costs 244 (51 ) 193 Global Finishes Group facilities shutdown in 2012: Severance and related costs 2,177 (1,863 ) 314 Other qualified exit costs 83 83 Other qualified exit costs for facilities shutdown prior to 2012 1,365 (441 ) 924 Totals $ 5,820 $ 13,578 $ (10,882 ) $ 8,516

Pension, Health Care and Post33

Pension, Health Care and Postretirement Benefits Other Than Pensions (Tables)	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Components of the net periodic benefit cost and cumulative other comprehensive loss related to pensions	The following table summarizes the components of the net pension costs and Cumulative other comprehensive loss related to the defined benefit pension plans: Domestic Defined Benefit Pension Plans Foreign Defined Benefit Pension Plans 2016 2015 2014 2016 2015 2014 Net pension costs (credits): Service costs $ 22,291 $ 21,120 $ 21,342 $ 4,225 $ 5,071 $ 5,261 Interest costs 26,498 24,535 26,266 7,441 8,719 10,422 Expected returns on plan assets (50,197 ) (52,095 ) (51,293 ) (6,915 ) (9,296 ) (10,836 ) Amortization of prior service costs 1,205 1,310 1,837 Amortization of actuarial losses 4,532 1,962 1,540 1,910 1,413 Ongoing pension costs (credits) 4,329 (3,168 ) (1,848 ) 6,291 6,404 6,260 Settlement costs (credits) 4,231 3,255 (3,422 ) Net pension costs (credits) 4,329 (3,168 ) (1,848 ) 10,522 9,659 2,838 Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial losses arising during the year 18,926 15,359 47,785 17,030 1,907 21,792 Prior service costs arising during the year 2,081 2,242 Amortization of actuarial losses (4,532 ) (1,962 ) (1,540 ) (1,910 ) (1,413 ) Amortization of prior service costs (1,205 ) (1,310 ) (1,837 ) Exchange rate loss recognized during year (11,627 ) (5,830 ) (7,988 ) Total recognized in Cumulative other comprehensive loss 15,270 12,087 48,190 3,863 (5,833 ) 12,391 Total recognized in net pension costs (credits) and Cumulative other comprehensive loss $ 19,599 $ 8,919 $ 46,342 $ 14,385 $ 3,826 $ 15,229
Fair value of the defined benefit pension plan assets	The following tables summarize the fair value of the defined benefit pension plan assets at December 31, 2016 , 2015 and 2014 . The presentation is in accordance with the Retirement Benefits Topic of the ASC, as updated by ASU No. 2015-07 (see Note 1). Fair value at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments at fair value: Equity investments (1) $ 393,045 $ 321,152 $ 71,893 Fixed income investments (2) 294,103 144,668 149,435 Other assets (3) 14,643 14,643 Total investments in fair value hierarchy 701,791 $ 465,820 $ 235,971 Investments measured at NAV or its equivalent (4) 310,230 Investments at fair value $ 1,012,021 Fair value at December 31, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments at fair value: Equity investments (1) $ 435,690 $ 372,033 $ 63,657 Fixed income investments (2) 290,470 141,448 149,022 Other assets (3) 16,361 16,361 Total investments in fair value hierarchy 742,521 $ 513,481 $ 229,040 Investments measured at NAV or its equivalent (4) 278,423 Investments at fair value $ 1,020,944 Fair value at December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments at fair value: Equity investments (1) $ 487,357 $ 404,542 $ 82,815 Fixed income investments (2) 285,042 141,529 143,513 Other assets (3) 28,435 28,435 Total investments in fair value hierarchy 800,834 $ 546,071 $ 254,763 Investments measured at NAV or its equivalent (4) 282,882 Investments at fair value $ 1,083,716 (1) This category includes actively managed equity assets that track primarily to the S&P 500. (2) This category includes government and corporate bonds that track primarily to the Barclays Capital Aggregate Bond Index. (3) This category includes real estate and pooled investment funds. (4) This category includes pooled investment funds and private equity funds that are measured at NAV or its equivalent using the practical expedient. Therefore, these investments are not classified in the fair value hierarchy.
Obligations, plan assets and assumption used for defined benefit pension plan	The following table summarizes the obligations, plan assets and assumptions used for the defined benefit pension plans, which are all measured as of December 31: Domestic Defined Benefit Pension Plans Foreign Defined Benefit Pension Plans 2016 2015 2014 2016 2015 2014 Accumulated benefit obligations at end of year $ 630,159 $ 621,873 $ 648,480 $ 172,047 $ 172,426 $ 203,610 Projected benefit obligations: Balances at beginning of year $ 624,791 $ 653,338 $ 582,036 $ 201,854 $ 234,524 $ 222,996 Service costs 22,291 21,120 21,342 4,225 5,071 5,261 Interest costs 26,498 24,535 26,266 7,441 8,719 10,422 Actuarial losses (gains) 8,132 (40,602 ) 68,748 43,736 (3,045 ) 32,551 Contributions and other 2,081 2,242 947 1,072 (6,692 ) Settlements (14,862 ) (18,707 ) (3,370 ) Effect of foreign exchange (30,360 ) (17,211 ) (18,987 ) Benefits paid (50,996 ) (33,600 ) (47,296 ) (6,108 ) (8,569 ) (7,657 ) Balances at end of year 632,797 624,791 653,338 206,873 201,854 234,524 Plan assets: Balances at beginning of year 858,605 896,071 870,386 162,339 187,645 184,963 Actual returns on plan assets 39,404 (3,866 ) 72,256 33,569 4,844 20,240 Contributions and other 725 15,019 11,424 7,328 Settlements (14,862 ) (18,707 ) (3,370 ) Effect of foreign exchange (24,949 ) (14,298 ) (13,859 ) Benefits paid (50,996 ) (33,600 ) (47,296 ) (6,108 ) (8,569 ) (7,657 ) Balances at end of year 847,013 858,605 896,071 165,008 162,339 187,645 Excess (deficient) plan assets over projected benefit obligations $ 214,216 $ 233,814 $ 242,733 $ (41,865 ) $ (39,515 ) $ (46,879 ) Assets and liabilities recognized in the Consolidated Balance Sheets: Deferred pension assets $ 214,216 $ 233,814 $ 242,733 $ 11,313 $ 11,068 $ 7,411 Other accruals (1,522 ) (1,442 ) (810 ) Other long-term liabilities (51,656 ) (49,141 ) (53,480 ) $ 214,216 $ 233,814 $ 242,733 $ (41,865 ) $ (39,515 ) $ (46,879 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (134,847 ) $ (120,454 ) $ (107,057 ) $ (45,604 ) $ (41,741 ) $ (47,574 ) Prior service costs (6,015 ) (5,138 ) (6,448 ) $ (140,862 ) $ (125,592 ) $ (113,505 ) $ (45,604 ) $ (41,741 ) $ (47,574 ) Weighted-average assumptions used to determine projected benefit obligations: Discount rate 4.20 % 4.40 % 3.95 % 3.21 % 4.20 % 3.92 % Rate of compensation increase 3.38 % 3.14 % 4.00 % 4.43 % 4.00 % 3.70 % Weighted-average assumptions used to determine net pension costs: Discount rate 4.40 % 3.95 % 4.65 % 4.20 % 3.92 % 4.89 % Expected long-term rate of return on assets 6.00 % 6.00 % 6.00 % 4.70 % 4.84 % 5.58 % Rate of compensation increase 3.14 % 4.00 % 4.00 % 4.00 % 3.70 % 4.31 %
Obligation and the assumptions used for postretirement benefits other than pensions	The following table summarizes the obligation and the assumptions used for postretirement benefits other than pensions: Postretirement Benefits Other than Pensions 2016 2015 2014 Benefit obligation: Balance at beginning of year - unfunded $ 263,383 $ 295,149 $ 286,651 Service cost 2,244 2,485 2,434 Interest cost 11,009 11,182 12,782 Actuarial loss (gain) 7,548 (19,370 ) 27,757 Plan amendments (9,269 ) (19,043 ) Benefits paid (19,047 ) (16,794 ) (15,432 ) Balance at end of year - unfunded $ 265,137 $ 263,383 $ 295,149 Liabilities recognized in the Consolidated Balance Sheets: Postretirement benefits other than pensions $ (250,397 ) $ (248,523 ) $ (277,892 ) Other accruals (14,740 ) (14,860 ) (17,257 ) $ (265,137 ) $ (263,383 ) $ (295,149 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (23,211 ) $ (15,664 ) $ (36,044 ) Prior service credits 19,205 25,784 21,043 $ (4,006 ) $ 10,120 $ (15,001 ) Weighted-average assumptions used to determine benefit obligation: Discount rate 4.10 % 4.30 % 3.90 % Health care cost trend rate - pre-65 6.00 % 6.00 % 7.00 % Health care cost trend rate - post-65 5.50 % 5.00 % 6.50 % Prescription drug cost increases 10.50 % 11.50 % 6.50 % Employer Group Waiver Plan (EGWP) trend rate 10.60 % 11.50 % 8.00 % Weighted-average assumptions used to determine net periodic benefit cost: Discount rate 4.30 % 3.90 % 4.60 % Health care cost trend rate - pre-65 6.00 % 7.00 % 7.50 % Health care cost trend rate - post-65 5.00 % 6.50 % 6.50 % Prescription drug cost increases 11.50 % 6.50 % 7.00 %
Components of the net periodic benefit cost and cumulative other comprehensive loss related to postretirement benefits other than pensions	The following table summarizes the components of the net periodic benefit cost and Cumulative other comprehensive loss related to postretirement benefits other than pensions: Postretirement Benefits Other than Pensions 2016 2015 2014 Net periodic benefit cost: Service cost $ 2,244 $ 2,485 $ 2,434 Interest cost 11,009 11,182 12,782 Amortization of actuarial losses 1,011 Amortization of prior service credit (6,578 ) (4,529 ) (503 ) Net periodic benefit cost 6,675 10,149 14,713 Other changes in projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial loss (gain) arising during the year 7,548 (19,370 ) 27,757 Prior service credit arising during the year (9,269 ) (19,043 ) Amortization of actuarial losses (1,011 ) Amortization of prior service credit 6,578 4,529 503 Total recognized in Cumulative other comprehensive loss 14,126 (25,121 ) 9,217 Total recognized in net periodic benefit cost and Cumulative other comprehensive loss $ 20,801 $ (14,972 ) $ 23,930
Significant effect on amounts reported for service and interest rate component and postretirement health care benefit obligation	A one-percentage-point change in assumed health care and prescription drug cost trend rates would have had the following effects at December 31, 2016 : One-Percentage Point Increase (Decrease) Effect on total of service and interest cost components $ 86 $ (131 ) Effect on the postretirement benefit obligation $ 552 $ (1,221 )
Retiree health care benefit cash payments	The Company expects to make retiree health care benefit cash payments as follows: Expected Cash Payments 2017 $ 14,740 2018 16,551 2019 17,398 2020 17,990 2021 18,334 2022 through 2026 93,300 Total expected benefit cash payments $ 178,313

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt Due Date 2016 2015 (1) 2014 (1) 3.45% Senior Notes 2025 $ 396,898 $ 396,536 4.55% Senior Notes 2045 393,637 393,414 4.00% Senior Notes 2042 295,938 295,781 $ 295,624 1.35% Senior Notes 2017 697,530 696,240 7.375% Debentures 2027 118,936 118,889 118,841 7.45% Debentures 2097 3,500 3,500 3,500 2.00% to 8.00% Promissory Notes Through 2027 2,417 1,628 1,791 $ 1,211,326 $ 1,907,278 $ 1,115,996 (1) Revised due to the adoption of ASU No. 2015-03. See Note 1.

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Capital Stock	Common Shares in Treasury Common Shares Outstanding Balance at January 1, 2014 12,772,498 100,129,380 Shares tendered as payment for option rights exercised 7,229 (7,229 ) Shares issued for exercise of option rights 1,423,395 Shares tendered in connection with grants of restricted stock 108,352 (108,352 ) Net shares issued for grants of restricted stock 191,979 Treasury stock purchased 6,925,000 (6,925,000 ) Balance at December 31, 2014 19,813,079 94,704,173 Shares tendered as payment for option rights exercised 14,542 (14,542 ) Shares issued for exercise of option rights 1,133,050 Shares tendered in connection with grants of restricted stock 111,433 (111,433 ) Net shares issued for grants of restricted stock 110,277 Treasury stock purchased 3,575,000 (3,575,000 ) Balance at December 31, 2015 23,514,054 92,246,525 Shares tendered as payment for option rights exercised 3,441 (3,441 ) Shares issued for exercise of option rights 733,876 Shares tendered in connection with grants of restricted stock 59,916 (59,916 ) Net shares issued for grants of restricted stock 95,987 Balance at December 31, 2016 23,577,411 93,013,031

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Option rights	The fair value of the Company’s option rights was estimated at the date of grant using a Black-Scholes-Merton option-pricing model with the following weighted-average assumptions for all options granted: 2016 2015 2014 Risk-free interest rate 1.24% 1.37% 1.47% Expected life of option rights 5.05 years 5.05 years 5.10 years Expected dividend yield of stock 1.06% 1.13% 1.19% Expected volatility of stock .212 .245 .223
Company's non-qualified and incentive stock option right activity for employees and nonemployee directors	A summary of the Company’s non-qualified and incentive stock option right activity is shown in the following table: 2016 2015 2014 Optioned Shares Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Optioned Shares Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Optioned Shares Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Outstanding beginning of year 5,219,506 $ 141.58 5,699,892 $ 117.31 6,484,592 $ 96.25 Granted 712,967 271.46 697,423 241.84 672,565 224.65 Exercised (733,876 ) 108.81 (1,133,287 ) 79.41 (1,421,045 ) 70.71 Forfeited (26,653 ) 232.83 (43,632 ) 193.60 (31,617 ) 158.92 Expired (8,235 ) 176.28 (890 ) 87.59 (4,603 ) 86.66 Outstanding end of year 5,163,709 $ 163.61 $ 545,531 5,219,506 $ 141.58 $ 616,866 5,699,892 $ 117.31 $ 830,647 Exercisable at end of year 3,783,755 $ 130.59 $ 522,921 3,807,351 $ 110.96 $ 565,934 4,095,246 $ 87.79 $ 717,691
Summary of the company's restricted stock activity	A summary of the Company’s restricted stock and RSU activity for the years ended December 31 is shown in the following table: 2016 2015 2014 Outstanding at beginning of year 467,744 655,276 749,382 Granted 99,662 112,494 201,412 Vested (166,405 ) (290,901 ) (294,438 ) Forfeited (3,675 ) (9,125 ) (1,080 ) Outstanding at end of year 397,326 467,744 655,276

Other (Tables)

Other (Tables)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other general expense - net	Included in Other general expense - net were the following: 2016 2015 2014 Provisions for environmental matters - net $ 42,932 $ 31,071 $ 36,046 (Gain) loss on sale or disposition of assets (30,564 ) (803 ) 1,436 Total $ 12,368 $ 30,268 $ 37,482
Other (income) expense - net	Included in Other (income) expense - net were the following: 2016 2015 2014 Dividend and royalty income $ (4,573 ) $ (3,668 ) $ (4,864 ) Net expense from financing activities 8,667 11,091 11,367 Foreign currency transaction related losses 7,335 9,503 3,603 Other income (25,279 ) (23,880 ) (37,524 ) Other expense 9,263 13,036 12,018 Total $ (4,587 ) $ 6,082 $ (15,400 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Impact of new accounting pronouncements	The impact on the Company's financial statements for the year ended December 31, 2016 is summarized below: 2016 Decrease in Other capital $ 44,233 Decrease in Income taxes and increase in Net income $ 44,233 Increase in Average shares and equivalents outstanding - diluted 588,708 Increase in Basic net income per common share $ .48 Increase in Diluted net income per common share $ .40
Components of deferred tax assets and liabilities	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2016 , 2015 and 2014 were as follows: 2016 2015 2014 Deferred tax assets: Exit costs, environ-mental and other similar items $ 74,535 $ 63,851 $ 56,441 Employee related and benefit items 166,313 141,974 141,670 Other items 148,910 116,302 112,149 Total deferred tax assets 389,758 322,127 310,260 Deferred tax liabilities: Depreciation and amortization 254,430 241,101 227,765 LIFO inventories 83,659 89,330 67,835 Other items 59,746 33,433 44,378 Total deferred tax liabilities 397,835 363,864 339,978 Net deferred tax liabilities $ 8,077 $ 41,737 $ 29,718
Components of the provisions for income taxes	Significant components of the provisions for income taxes were as follows: 2016 2015 2014 Current: Federal $ 438,244 $ 399,677 $ 308,283 Foreign 31,125 30,145 53,045 State and local 61,402 60,319 50,049 Total current 530,771 490,141 411,377 Deferred: Federal (56,891 ) 13,505 (14,974 ) Foreign (2,121 ) (10,752 ) (7,361 ) State and local (9,229 ) 2,223 3,297 Total deferred (68,241 ) 4,976 (19,038 ) Total provisions for income taxes $ 462,530 $ 495,117 $ 392,339
Components of income before income taxes used for income tax purpose	Significant components of income before income taxes as used for income tax purposes, were as follows: 2016 2015 2014 Domestic $ 1,504,990 $ 1,440,511 $ 1,113,528 Foreign 90,243 108,455 144,698 $ 1,595,233 $ 1,548,966 $ 1,258,226
Reconciliation of the statutory federal income tax rate to the effective tax rate	A reconciliation of the statutory federal income tax rate to the effective tax rate follows: 2016 2015 2014 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % Effect of: State and local income taxes 2.3 2.6 2.8 Investment vehicles (1.5 ) (1.6 ) (2.5 ) Domestic production activities (2.9 ) (2.2 ) (2.5 ) Employee share-based payments (2.8 ) Other - net (1.1 ) (1.8 ) (1.6 ) Effective tax rate 29.0 % 32.0 % 31.2 %
Reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 Balance at beginning of year $ 33,873 $ 31,560 $ 30,997 Additions based on tax positions related to the current year 5,674 4,228 3,370 Additions for tax positions of prior years 3,890 8,450 4,428 Reductions for tax positions of prior years (5,901 ) (4,862 ) (2,349 ) Settlements (3,763 ) (968 ) (4,089 ) Lapses of Statutes of Limitations (968 ) (4,535 ) (797 ) Balance at end of year $ 32,805 $ 33,873 $ 31,560

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Computation of net income per common share	2016 2015 2014 Basic Average common shares outstanding 91,838,603 92,197,207 96,190,101 Net income $ 1,132,703 $ 1,053,849 $ 865,887 Net income per common share $ 12.33 $ 11.43 $ 9.00 Diluted Average common shares outstanding 91,838,603 92,197,207 96,190,101 Stock options and other contingently issuable shares (1) 2,089,921 1,826,885 1,885,334 Non-vested restricted stock grants 559,562 519,451 665,086 Average common shares outstanding assuming dilution 94,488,086 94,543,543 98,740,521 Net income $ 1,132,703 $ 1,053,849 $ 865,887 Net income per common share $ 11.99 $ 11.15 $ 8.77 (1) Stock options and other contingently issuable shares excludes 62,935 , 34,463 and 608,477 shares at December 31, 2016 , 2015 and 2014 , respectively, due to their anti-dilutive effect.

Summary of Quarterly Results 40

Summary of Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data [Abstract]
Schedule of quarterly financial information	2016 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 2,574,024 $ 3,219,525 $ 3,279,462 $ 2,782,591 $ 11,855,602 Gross profit 1,261,745 1,635,793 1,636,289 1,388,438 5,922,265 Net income (1) 164,876 378,064 386,733 203,030 1,132,703 Net income per common share - basic (1), (2) 1.80 4.12 4.20 2.20 12.33 Net income per common share - diluted (1), (2) 1.75 3.99 4.08 2.15 11.99 2015 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 2,450,284 $ 3,132,139 $ 3,152,285 $ 2,604,596 $ 11,339,304 Gross profit 1,132,449 1,529,986 1,574,552 1,322,239 5,559,226 Net income 131,404 349,937 374,491 198,017 1,053,849 Net income per common share - basic (2) 1.42 3.79 4.06 2.16 11.43 Net income per common share - diluted (2) 1.38 3.70 3.97 2.11 11.15 (1) First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14. (2) Presented under the treasury stock method. See Note 15.

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Future minimum lease payments under noncancellable operating leases	The following schedule summarizes the future minimum lease payments under noncancellable operating leases having initial or remaining terms in excess of one year at December 31, 2016 : 2017 $ 342,565 2018 301,546 2019 257,466 2020 214,084 2021 158,427 Later years 326,241 Total minimum lease payments $ 1,600,329

Reportable Segment Information

Reportable Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Reportable segment information	(millions of dollars) 2016 Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Administrative Consolidated Totals Net external sales $ 7,790 $ 1,585 $ 1,889 $ 587 $ 5 $ 11,856 Intersegment transfers 2,775 15 39 (2,829 ) Total net sales and intersegment transfers $ 7,790 $ 4,360 $ 1,904 $ 626 $ (2,824 ) $ 11,856 Segment profit (loss) (1) $ 1,623 $ 319 $ 239 $ (17 ) $ 2,164 Interest expense (2) $ (154 ) (154 ) Administrative expenses and other (3) (415 ) (415 ) Income before income taxes $ 1,623 $ 319 $ 239 $ (17 ) $ (569 ) $ 1,595 Reportable segment margins 20.8 % 7.3 % 12.6 % (2.7 )% Identifiable assets $ 1,779 $ 2,005 $ 818 $ 369 $ 1,782 $ 6,753 Capital expenditures 80 99 19 19 22 239 Depreciation 69 47 20 7 29 172 (1) Latin America Coatings Group's segment loss includes goodwill and trademark impairment of $10.7 million. (2) Includes costs associated with the anticipated acquisition of Valspar totaling $72.8 million. (3) Includes costs associated with the anticipated acquisition of Valspar totaling $58.4 million. 2015 Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Administrative Consolidated Totals Net external sales $ 7,209 $ 1,578 $ 1,916 $ 631 $ 5 $ 11,339 Intersegment transfers 2,736 5 40 (2,781 ) Total net sales and intersegment transfers $ 7,209 $ 4,314 $ 1,921 $ 671 $ (2,776 ) $ 11,339 Segment profit $ 1,434 $ 309 $ 202 $ 18 $ 1,963 Interest expense $ (62 ) (62 ) Administrative expenses and other (352 ) (352 ) Income before income taxes $ 1,434 $ 309 $ 202 $ 18 $ (414 ) $ 1,549 Reportable segment margins 19.9 % 7.2 % 10.5 % 2.7 % Identifiable assets $ 1,685 $ 1,925 $ 814 $ 352 $ 1,003 $ 5,779 Capital expenditures 119 61 21 14 19 234 Depreciation 64 47 25 8 26 170 2014 Paint Stores Group Consumer Group Global Finishes Group Latin America Coatings Group Administrative Consolidated Totals Net external sales $ 6,852 $ 1,421 $ 2,081 $ 771 $ 5 $ 11,130 Intersegment transfers 2,745 8 40 (2,793 ) Total net sales and intersegment transfers $ 6,852 $ 4,166 $ 2,089 $ 811 $ (2,788 ) $ 11,130 Segment profit $ 1,201 $ 253 $ 201 $ 40 $ 1,695 Interest expense $ (64 ) (64 ) Administrative expenses and other (373 ) (373 ) Income before income taxes $ 1,201 $ 253 $ 201 $ 40 $ (437 ) $ 1,258 Reportable segment margins 17.5 % 6.1 % 9.6 % 4.9 % Identifiable assets $ 1,602 $ 1,883 $ 874 $ 427 $ 913 $ 5,699 Capital expenditures 87 45 16 8 45 201 Depreciation 58 48 28 9 26 169

Significant Accounting Polici43

Significant Accounting Policies - Non-Traded Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Non Traded Investments (Textual) [Abstract]
Carrying amount of the investments, included in other assets	$ 193,413	$ 189,484	$ 223,935
Liability for estimated future capital contributions to the investments	$ 178,584	$ 172,899	$ 198,776

Significant Accounting Polici44

Significant Accounting Policies - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
Carrying Amount [Member] | Publicly Traded Debt [Member]
Financial Instruments
Fair	$ 1,907,704	$ 1,905,650	[1]	$ 1,114,205	[1]
Carrying Amount [Member] | Non-Traded Debt [Member]
Financial Instruments
Fair	4,097	4,782	[1]	5,056	[1]
Fair Value [Member] | Publicly Traded Debt [Member]
Financial Instruments
Fair	1,912,646	1,960,169		1,160,280
Fair Value [Member] | Non-Traded Debt [Member]
Financial Instruments
Fair	$ 3,783	$ 4,555		$ 4,812
[1]	Revised due to the adoption of ASU No. 2015-03. See Impact of recently issued accounting standards section.

Significant Accounting Polici45

Significant Accounting Policies - Fair Value Measurements on Recurring Basis (Details) $ in Thousands	Dec. 31, 2016USD ($)
Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements (Textual) [Abstract]
Cost basis of the investment funds	$ 26,357
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Deferred compensation plan asset	3,802	[1]
Total assets	3,802
Liabilities:
Deferred compensation plan liability	37,717	[2]
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Deferred compensation plan asset	23,650	[1]
Interest rate lock asset	137,233	[3]
Total assets	160,883
Fair Value, Measurements, Recurring [Member] | Fair Value [Member]
Assets:
Deferred compensation plan asset	27,452	[1]
Interest rate lock asset	137,233	[3]
Total assets	164,685
Liabilities:
Deferred compensation plan liability	$ 37,717	[2]
[1]	The deferred compensation plan asset consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plan, which is structured as a rabbi trust. The investments are marketable securities accounted for under the Debt and Equity Securities Topic of the ASC. The level 1 investments are valued using quoted market prices multiplied by the number of shares. The level 2 investments are valued based on vendor or broker models. The cost basis of the investment funds is $26,357.
[2]	The deferred compensation plan liability represents the value of the Company’s liability under its deferred compensation plan based on quoted market prices in active markets for identical assets.
[3]	The interest rate lock asset is measured at the present value of the expected future cash flows using market-based observable inputs. See note 7.

Significant Accounting Polici46

Significant Accounting Policies - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amortization cost of non-compete covenants and certain intangible property rights
Useful life (in years)	10 years	11 years	11 years
Finite-lived Trademarks [Member]
Amortization cost of non-compete covenants and certain intangible property rights
Useful life (in years)	5 years
Non-Compete Covenants [Member] | Minimum [Member]
Amortization cost of non-compete covenants and certain intangible property rights
Useful life (in years)	3 years
Non-Compete Covenants [Member] | Maximum [Member]
Amortization cost of non-compete covenants and certain intangible property rights
Useful life (in years)	5 years
Certain Intangible Property Rights [Member] | Minimum [Member]
Amortization cost of non-compete covenants and certain intangible property rights
Useful life (in years)	3 years
Certain Intangible Property Rights [Member] | Maximum [Member]
Amortization cost of non-compete covenants and certain intangible property rights
Useful life (in years)	19 years

Significant Accounting Polici47

Significant Accounting Policies - Major Classes of Assets and Depreciation Rates (Details)	12 Months Ended
	Dec. 31, 2016
Buildings [Member] | Minimum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	4.00%
Buildings [Member] | Maximum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	20.00%
Machinery and equipment [Member] | Minimum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	10.00%
Machinery and equipment [Member] | Maximum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	20.00%
Furniture and fixtures [Member] | Minimum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	10.00%
Furniture and fixtures [Member] | Maximum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	20.00%
Automobiles and trucks [Member] | Minimum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	10.00%
Automobiles and trucks [Member] | Maximum [Member]
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets (percentage)	33.30%

Significant Accounting Polici48

Significant Accounting Policies - Changes in Product Warranty Accruals (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Company's accrual for product warranty claims
Balance at January 1	$ 31,878	$ 27,723	$ 26,755
Charges to expense	38,954	43,484	37,879
Settlements	(36,413)	(39,329)	(36,911)
Balance at December 31	$ 34,419	$ 31,878	$ 27,723

Significant Accounting Polici49

Significant Accounting Policies - Narrative (Details)	Oct. 01, 2016USD ($)	Oct. 01, 2015USD ($)	Oct. 01, 2014USD ($)	Dec. 31, 2014USD ($)contract		Dec. 31, 2016USD ($)contract		Dec. 31, 2015USD ($)contract		Dec. 31, 2014USD ($)contract		Dec. 31, 2013USD ($)	[1]
Significant Accounting Policies (Textual) [Abstract]
Number of derivative contracts outstanding | contract				0		0		0		0
Goodwill [Line Items]
Goodwill				$ 1,158,346,000	[1]	$ 1,126,892,000	[2]	$ 1,143,333,000	[1]	$ 1,158,346,000	[1]	$ 1,178,687,000
Goodwill impairment						10,455,000
Intangible assets, carrying value				149,766,000		140,792,000		143,318,000		149,766,000
Allowance for doubtful accounts				53,770,000		40,450,000		49,420,000		53,770,000
Inventory valuation reserves				90,712,000		87,715,000		91,217,000		90,712,000
Amounts outstanding under standby letter of credit agreements				23,442,000		43,658,000		45,407,000		23,442,000
Cumulative other comprehensive loss included adjustments for foreign currency translation				354,384,000		501,277,000		482,629,000		354,384,000
Prior service costs and net actuarial losses related to pension and other postretirement benefit plans				118,167,000		125,096,000		104,346,000		118,167,000
Unrealized net gains (losses) on marketable equity securities and derivative instruments used in cash flow hedges				593,000		1,015,000		(120,000)		593,000
Unrealized net gains on cash flow hedges						85,007,000
Research and development costs included in technical expenditures						58,041,000		57,667,000		50,019,000
Advertising cost						351,002,000		338,188,000		299,201,000
Latin America Coating Group [Member]
Goodwill [Line Items]
Goodwill	$ 10,455,000			9,695,000	[1]	0	[2]	$ 9,646,000	[1]	$ 9,695,000	[1]	$ 9,738,000
Goodwill impairment	10,455,000	$ 0	$ 0			$ 10,455,000
Latin America Coating Group [Member] | Trademarks [Member]
Goodwill [Line Items]
Intangible assets, carrying value	2,114,000
Impairment of intangible assets	233,000	$ 0	$ 0
Latin America Coating Group [Member] | Trademarks [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Goodwill [Line Items]
Intangible assets, fair value	$ 1,881,000
Titanium Dioxide Antitrust Litigation [Member]
Loss Contingencies [Line Items]
Settlement gain related to litigation settlement				$ 21,420,000
[1]	Net of accumulated impairment losses of $8,904 ($8,113 in the Consumer Group and $791 in the Global Finishes Group).
[2]	Net of accumulated impairment losses of $19,359 ($8,113 in the Consumer Group, $791 in the Global Finishes Group and $10,455 in the Latin America Coatings Group).

Acquisitions (Details)

Acquisitions (Details) - Valspar Corporation [Member] - USD ($)	Mar. 19, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Share price (in dollars per share)	$ 113
Enterprise value	$ 9,500,000,000
Decrease in basic net income per share attributable to acquisition expenses (in dollars per share)		$ (0.89)
Decrease in diluted net income per share attributable to acquisition expenses (in dollars per share)		$ (0.86)
Selling, General and Administrative Expenses [Member]
Business Acquisition [Line Items]
Acquisition expenses incurred		$ 58,409,000
Interest Expense [Member]
Business Acquisition [Line Items]
Acquisition expenses incurred		$ 72,844,000
Required Regulatory Approvals of Antitrust Authorities [Member]
Business Acquisition [Line Items]
Share price (in dollars per share)	$ 105
Contingent consideration arrangements, basis for change in share price, net sales equivalent of potentially divested assets, amount (more than)	$ 650,000,000
Contingent consideration arrangements, basis for acquisition cancellation, divested assets, amount (more than)	$ 1,500,000,000

Inventories (Details)

Inventories (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Impact on net income of liquidations			$ 196
Inventories
Percentage of total inventories on LIFO	79.00%	78.00%	76.00%
Excess of FIFO over LIFO	$ 253,353	$ 251,060	$ 331,867
(Decrease) increase in net income due to LIFO	$ (1,421)	$ 49,658	$ 3,230
Increase in net income per common share due to LIFO (in dollars per share)	$ (0.02)	$ 0.53	$ 0.03

Goodwill, Intangible and Long52

Goodwill, Intangible and Long-Lived Assets - Narrative (Details) - USD ($)	Oct. 01, 2016	Oct. 01, 2015	Oct. 01, 2014	Dec. 31, 2016
Goodwill, Intangible and Long-Lived Assets (Textual) [Abstract]
Goodwill impairment				$ 10,455,000
Additional Goodwill Intangible and Long Lived Assets (Textual) [Abstract]
Amortization of finite-lived Intangible assets for the year 2017				18,958,000
Amortization of finite-lived Intangible assets for the year 2018				18,390,000
Amortization of finite-lived Intangible assets for the year 2019				16,209,000
Amortization of finite-lived Intangible assets for the year 2020				14,985,000
Amortization of finite-lived Intangible assets for the year 2021				13,177,000
Latin America Coating Group [Member]
Goodwill, Intangible and Long-Lived Assets (Textual) [Abstract]
Goodwill impairment	$ 10,455,000	$ 0	$ 0	$ 10,455,000
Latin America Coating Group [Member] | Trademarks [Member]
Goodwill, Intangible and Long-Lived Assets (Textual) [Abstract]
Impairment of intangible assets	$ 233,000	$ 0	$ 0

Goodwill, Intangible and Long53

Goodwill, Intangible and Long-Lived Assets - Carrying Value of Goodwill by Reportable Segment (Details) - USD ($)		Oct. 01, 2016	Oct. 01, 2015	Oct. 01, 2014	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Carrying value of goodwill by reportable operating segment
Beginning balance	[1]				$ 1,143,333,000		$ 1,158,346,000		$ 1,178,687,000
Currency and other adjustments					(5,986,000)		(15,013,000)		(20,341,000)
Impairment charged to operations					(10,455,000)
Ending balance					1,126,892,000	[2]	1,143,333,000	[1]	1,158,346,000	[1]
Accumulated impairment losses					19,359,000		8,904,000
Paint Stores Group [Member]
Carrying value of goodwill by reportable operating segment
Beginning balance	[1]				285,406,000		285,434,000		287,300,000
Currency and other adjustments					4,000		(28,000)		(1,866,000)
Ending balance					285,410,000	[2]	285,406,000	[1]	285,434,000	[1]
Consumer Group [Member]
Carrying value of goodwill by reportable operating segment
Beginning balance	[1]				701,071,000		702,206,000		703,351,000
Currency and other adjustments					(1,197,000)		(1,135,000)		(1,145,000)
Ending balance					699,874,000	[2]	701,071,000	[1]	702,206,000	[1]
Accumulated impairment losses					8,113,000		8,113,000
Global Finishes Group [Member]
Carrying value of goodwill by reportable operating segment
Beginning balance	[1]				147,210,000		161,011,000		178,298,000
Currency and other adjustments					(5,602,000)		(13,801,000)		(17,287,000)
Ending balance					141,608,000	[2]	147,210,000	[1]	161,011,000	[1]
Accumulated impairment losses					791,000		791,000
Latin America Coating Group [Member]
Carrying value of goodwill by reportable operating segment
Beginning balance	[1]				9,646,000		9,695,000		9,738,000
Currency and other adjustments					809,000		(49,000)		(43,000)
Impairment charged to operations		$ (10,455,000)	$ 0	$ 0	(10,455,000)
Ending balance		$ 10,455,000			0	[2]	$ 9,646,000	[1]	$ 9,695,000	[1]
Accumulated impairment losses					$ 10,455,000
[1]	Net of accumulated impairment losses of $8,904 ($8,113 in the Consumer Group and $791 in the Global Finishes Group).
[2]	Net of accumulated impairment losses of $19,359 ($8,113 in the Consumer Group, $791 in the Global Finishes Group and $10,455 in the Latin America Coatings Group).

Goodwill, Intangible and Long54

Goodwill, Intangible and Long-Lived Assets - Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Carrying value of intangible assets
Weighted-average amortization period (in years)	10 years	11 years	11 years
Gross	$ 458,170	$ 435,982	$ 443,263
Accumulated amortization	(343,952)	(323,929)	(303,902)
Net value	114,218	112,053	139,361
Trademarks with indefinite lives	140,792	143,318	149,766
Total intangible assets	$ 255,010	$ 255,371	$ 289,127
Software [Member]
Carrying value of intangible assets
Weighted-average amortization period (in years)	7 years	8 years	8 years
Gross	$ 144,557	$ 123,863	$ 126,258
Accumulated amortization	(103,735)	(95,008)	(88,384)
Net value	$ 40,822	$ 28,855	$ 37,874
All Other [Member]
Carrying value of intangible assets
Weighted-average amortization period (in years)	11 years	12 years	12 years
Gross	$ 313,613	$ 312,119	$ 317,005
Accumulated amortization	(240,217)	(228,921)	(215,518)
Net value	$ 73,396	$ 83,198	$ 101,487

Exit or Disposal Activities - N

Exit or Disposal Activities - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)facilitybranchstore	Dec. 31, 2015USD ($)branchstore	Dec. 31, 2014USD ($)facilitystore
Exit or Disposal Activities (Textual) [Abstract]
Number of facilities closed | facility			7
Provisions in cost of goods sold or SG&A	$ 3,038	$ 9,761	$ 13,578
Stores and branches closed | store			24
Facilities Closed Down Prior to 2016 [Member]
Exit or Disposal Activities (Textual) [Abstract]
Provisions in cost of goods sold or SG&A	$ 1,513
Facilities Closed Down Prior to 2015 [Member]
Exit or Disposal Activities (Textual) [Abstract]
Provisions in cost of goods sold or SG&A		$ 1,264
Facilities Closed Down Prior to 2014 [Member]
Exit or Disposal Activities (Textual) [Abstract]
Provisions in cost of goods sold or SG&A			$ 3,722
Global Finishes Group [Member]
Exit or Disposal Activities (Textual) [Abstract]
Branches closed | branch	13	7
Provisions in cost of goods sold or SG&A	$ 505	$ 8,329	4,767
Consumer Group [Member]
Exit or Disposal Activities (Textual) [Abstract]
Number of facilities closed | facility	2
Provisions in cost of goods sold or SG&A	$ 1,020		4,809
Paint Stores Group [Member]
Exit or Disposal Activities (Textual) [Abstract]
Stores closed | store	15	30
Provisions in cost of goods sold or SG&A		$ 168	$ 280
Latin America Coatings Group [Member]
Exit or Disposal Activities (Textual) [Abstract]
Stores closed | store	1	2

Exit or Disposal Activities - S

Exit or Disposal Activities - Summary of Activity and Remaining Liabilities Associated with Qualified Exit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	$ 7,077	$ 8,516	$ 5,820
Provisions in Cost of goods sold or SG&A	3,038	9,761	13,578
Actual expenditures charged to accrual	(6,267)	(11,200)	(10,882)
Ending Balance	3,848	7,077	8,516
Consumer Group [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	1,020		4,809
Global Finishes Group [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	505	8,329	4,767
Paint Stores Group [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A		168	280
Severance and related costs [Member] | Consumer Group [Member] | Facilities Shutdown in 2016 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	1,020
Actual expenditures charged to accrual	(113)
Ending Balance	907
Severance and related costs [Member] | Consumer Group [Member] | Facilities Shutdown in 2014 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	445	2,732
Provisions in Cost of goods sold or SG&A		466	4,028
Actual expenditures charged to accrual	(46)	(2,753)	(1,296)
Ending Balance	399	445	2,732
Severance and related costs [Member] | Consumer Group [Member] | Facilities Shut Down in 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance			598
Provisions in Cost of goods sold or SG&A			97
Actual expenditures charged to accrual			(695)
Severance and related costs [Member] | Global Finishes Group [Member] | Stores Shut Down in 2016 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	136
Ending Balance	136
Severance and related costs [Member] | Global Finishes Group [Member] | Stores Shut Down in 2015 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	1,096
Provisions in Cost of goods sold or SG&A		1,341
Actual expenditures charged to accrual	(1,096)	(245)
Ending Balance		1,096
Severance and related costs [Member] | Global Finishes Group [Member] | Exit of Business in 2014 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	430	104
Provisions in Cost of goods sold or SG&A		326	2,500
Actual expenditures charged to accrual	(430)		(2,396)
Ending Balance		430	104
Severance and related costs [Member] | Global Finishes Group [Member] | Stores Shut Down in 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		28	33
Actual expenditures charged to accrual		(28)	(5)
Ending Balance			28
Severance and related costs [Member] | Global Finishes Group [Member] | Facility Shutdown in 2012 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		314	2,177
Actual expenditures charged to accrual			(1,863)
Ending Balance			314
Severance and related costs [Member] | Paint Stores Group [Member] | Facilities Shut Down in 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		654	977
Provisions in Cost of goods sold or SG&A			2,126
Actual expenditures charged to accrual		(654)	(2,449)
Ending Balance			654
Severance and related costs [Member] | Latin America Coatings Group [Member] | Facilities Shut Down in 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance			123
Actual expenditures charged to accrual			(123)
Other Qualified Exit Costs [Member] | Facilities Shutdown Prior to 2014 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	1,755
Provisions in Cost of goods sold or SG&A	103
Actual expenditures charged to accrual	(648)
Ending Balance	1,210	1,755
Other Qualified Exit Costs [Member] | Facilities Shutdown Prior to 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	961	1,514
Actual expenditures charged to accrual		(553)
Ending Balance		961	1,514
Other Qualified Exit Costs [Member] | Facilities Shutdown Prior to 2012 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		924	1,365
Actual expenditures charged to accrual			(441)
Ending Balance			924
Other Qualified Exit Costs [Member] | Consumer Group [Member] | Facilities Shutdown in 2014 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	52	781
Provisions in Cost of goods sold or SG&A		6	781
Actual expenditures charged to accrual	(39)	(735)
Ending Balance	13	52	781
Other Qualified Exit Costs [Member] | Global Finishes Group [Member] | Stores Shut Down in 2016 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	369
Actual expenditures charged to accrual	(100)
Ending Balance	269
Other Qualified Exit Costs [Member] | Global Finishes Group [Member] | Stores Shut Down in 2015 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	2,750
Provisions in Cost of goods sold or SG&A	499	6,988
Actual expenditures charged to accrual	(2,816)	(4,238)
Ending Balance	433	2,750
Other Qualified Exit Costs [Member] | Global Finishes Group [Member] | Exit of Business in 2014 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	353	1,080
Provisions in Cost of goods sold or SG&A	430	324	2,267
Actual expenditures charged to accrual	(600)	(1,051)	(1,187)
Ending Balance	183	353	1,080
Other Qualified Exit Costs [Member] | Global Finishes Group [Member] | Stores Shut Down in 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		138	220
Actual expenditures charged to accrual		(138)	(82)
Ending Balance			138
Other Qualified Exit Costs [Member] | Global Finishes Group [Member] | Facility Shutdown in 2012 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		83	83
Ending Balance			83
Other Qualified Exit Costs [Member] | Paint Stores Group [Member] | Stores Shut Down in 2015 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	12
Provisions in Cost of goods sold or SG&A	481	168
Actual expenditures charged to accrual	(298)	(156)
Ending Balance	195	12
Other Qualified Exit Costs [Member] | Paint Stores Group [Member] | Stores Shutdown In 2014 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	184	280
Provisions in Cost of goods sold or SG&A		142	280
Actual expenditures charged to accrual	(81)	(238)
Ending Balance	103	184	280
Other Qualified Exit Costs [Member] | Paint Stores Group [Member] | Facilities Shut Down in 2013 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance	$ 794	1,205
Provisions in Cost of goods sold or SG&A			1,499
Actual expenditures charged to accrual		(411)	(294)
Ending Balance		794	1,205
Other Qualified Exit Costs [Member] | Paint Stores Group [Member] | Stores Shutdown in 2012 [Member]
Summary of activity and remaining liabilities associated with qualified exit costs
Beginning Balance		$ 193	244
Actual expenditures charged to accrual			(51)
Ending Balance			$ 193

Pension, Health Care and Post57

Pension, Health Care and Postretirement Benefits Other Than Pensions - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)pension_planemployeeshares	Dec. 31, 2015USD ($)employee	Dec. 31, 2014USD ($)employee	Dec. 31, 2013USD ($)
Health Care Plans [Abstract]
Number of active employees entitled to receive benefits under health care plans | employee	22,708	21,918	21,239
Cost of benefits includes claims incurred and claims incurred but not reported under health care plans	$ 220,589	$ 217,781	$ 202,787
Defined Contribution Pension Plans [Abstract]
Number of domestic salaried defined benefit pension plan | pension_plan	1
Number of domestic hourly defined benefit pension plan | pension_plan	1
Number of foreign defined benefit pension plans | pension_plan	21
Fair value of plan assets	$ 701,791	$ 742,521	$ 800,834
Number of foreign defined benefit pension plans unfunded or underfunded | pension_plan	18
Retired employees entitled to receive postretirement benefits | employee	4,524	4,442	4,443
Defined benefit plan ultimate health care cost trend rate and prescription drug cost increase rate (percentage)	4.50%
Year in which health care cost trend rate and prescription drug cost rate reaches ultimate trend rate	2,025
Equity Securities [Member]
Defined Contribution Pension Plans [Abstract]
Target allocation percentage of plan assets in equity securities, minimum	45.00%
Target allocation percentage of plan assets in equity securities, maximum	65.00%
Fixed Income Securities [Member]
Defined Contribution Pension Plans [Abstract]
Target allocation percentage of plan assets in equity securities, minimum	30.00%
Target allocation percentage of plan assets in equity securities, maximum	40.00%
Domestic Defined Benefit Pension Plans [Member]
Defined Contribution Pension Plans [Abstract]
Projected benefit obligation	$ 632,797	$ 624,791	$ 653,338	$ 582,036
Fair value of plan assets	847,013	858,605	896,071	870,386
Excess (deficient) plan assets over projected benefit obligations	214,216	233,814	242,733
Accumulated benefit obligation	$ 630,159	621,873	648,480
Equity investment in domestic defined benefit pension plan assets (in shares) | shares	300,000
Market value of common shares invested in defined benefit pension plan assets	$ 80,622
Share equity investments in the domestic defined benefit pension plan assets (percentage)	9.50%
Dividends received on the common stock	$ 1,008
Foreign Pension Plan [Member]
Defined Contribution Pension Plans [Abstract]
Projected benefit obligation	206,873	201,854	234,524	222,996
Fair value of plan assets	165,008	162,339	187,645	184,963
Excess (deficient) plan assets over projected benefit obligations	(41,865)	(39,515)	(46,879)
Accumulated benefit obligation	172,047	172,426	203,610
Increase (decrease) in combined projected benefit obligations primarily due to changes in plan assumptions	5,018
Estimated future employer contributions	$ 3,676
Revised Domestic Salaried Plan After January 1, 2002 [Member] | Minimum [Member]
Defined Contribution Pension Plans [Abstract]
Employee matching contribution (as a percentage)	2.00%
Revised Domestic Salaried Plan After January 1, 2002 [Member] | Maximum [Member]
Defined Contribution Pension Plans [Abstract]
Employee matching contribution (as a percentage)	7.00%
Domestic salaried and hourly defined benefit pension plan [Member]
Defined Contribution Pension Plans [Abstract]
Projected benefit obligation	$ 632,797	624,791	653,338
Fair value of plan assets	847,013	858,605	896,071
Excess (deficient) plan assets over projected benefit obligations	214,216	233,814	242,733
Unfunded or underfunded foreign defined benefit pension plans [Member]
Defined Contribution Pension Plans [Abstract]
Projected benefit obligation	156,645
Fair value of plan assets	103,468
Excess (deficient) plan assets over projected benefit obligations	(53,177)
Accumulated benefit obligation	121,926
Defined Benefit Pension [Member]
Defined Contribution Pension Plans [Abstract]
Expected cash payments, 2017	53,827
Expected cash payments, 2018	54,357
Expected cash payments, 2019	53,810
Expected cash payments, 2020	54,671
Expected cash payments, 2021	55,387
Expected cash payments, 2022-2026	276,011
Amortization of actuarial losses	8,585
Amortization of prior service cost (credit)	1,362
Postretirement Benefits Other than Pensions [Member]
Defined Contribution Pension Plans [Abstract]
Projected benefit obligation	265,137	263,383	295,149	$ 286,651
Expected cash payments, 2017	14,740
Expected cash payments, 2018	16,551
Expected cash payments, 2019	17,398
Expected cash payments, 2020	17,990
Expected cash payments, 2021	18,334
Expected cash payments, 2022-2026	93,300
Amortization of actuarial losses	43
Amortization of prior service cost (credit)	(6,579)
Domestic Defined Benefit Pension Plans [Member]
Defined Contribution Pension Plans [Abstract]
Contributions by company	$ 36,731	35,435	32,384
Domestic Defined Benefit Pension Plans [Member] | Minimum [Member]
Defined Contribution Pension Plans [Abstract]
Contributions by company (percentage)	2.00%
Domestic Defined Benefit Pension Plans [Member] | Maximum [Member]
Defined Contribution Pension Plans [Abstract]
Contributions by company (percentage)	7.00%
Foreign Pension Plan [Member]
Defined Contribution Pension Plans [Abstract]
Contributions by company	$ 6,676	$ 5,888	$ 4,592

Pension, Health Care and Post58

Pension, Health Care and Postretirement Benefits Other Than Pensions - Components of Net Pension Costs and Cumulative OCI (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments at fair value:
Fair value of plan assets		$ 701,791	$ 742,521	$ 800,834
Plan assets measured at NAV or its equivalent	[1]	310,230	278,423	282,882
Fair value of plan assets, including NAV		1,012,021	1,020,944	1,083,716
Fair Value, Inputs, Level 1 [Member]
Investments at fair value:
Fair value of plan assets		465,820	513,481	546,071
Fair Value, Inputs, Level 2 [Member]
Investments at fair value:
Fair value of plan assets		235,971	229,040	254,763
Fair Value, Inputs, Level 3 [Member]
Investments at fair value:
Fair value of plan assets
Equity investments [Member]
Investments at fair value:
Fair value of plan assets	[2]	393,045	435,690	487,357
Equity investments [Member] | Fair Value, Inputs, Level 1 [Member]
Investments at fair value:
Fair value of plan assets	[2]	321,152	372,033	404,542
Equity investments [Member] | Fair Value, Inputs, Level 2 [Member]
Investments at fair value:
Fair value of plan assets	[2]	71,893	63,657	82,815
Fixed Income Investments [Member]
Investments at fair value:
Fair value of plan assets	[3]	294,103	290,470	285,042
Fixed Income Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Investments at fair value:
Fair value of plan assets	[3]	144,668	141,448	141,529
Fixed Income Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Investments at fair value:
Fair value of plan assets	[3]	149,435	149,022	143,513
Other Assets [Member]
Investments at fair value:
Fair value of plan assets	[4]	14,643	16,361	28,435
Other Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Investments at fair value:
Fair value of plan assets	[4]	14,643	16,361	28,435
Domestic Defined Benefit Pension Plans [Member]
Net pension costs (credits):
Service costs		22,291	21,120	21,342
Interest costs		26,498	24,535	26,266
Expected returns on plan assets		(50,197)	(52,095)	(51,293)
Amortization of prior service costs		1,205	1,310	1,837
Amortization of actuarial losses		4,532	1,962
Ongoing pension costs (credits)		4,329	(3,168)	(1,848)
Net pension costs (credits)		4,329	(3,168)	(1,848)
Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes):
Net actuarial losses arising during the year		18,926	15,359	47,785
Prior service costs arising during the year		2,081		2,242
Amortization of actuarial losses		(4,532)	(1,962)
Amortization of prior service costs		(1,205)	(1,310)	(1,837)
Total recognized in Cumulative other comprehensive loss		15,270	12,087	48,190
Total recognized in net pension costs (credits) and Cumulative other comprehensive loss		19,599	8,919	46,342
Investments at fair value:
Fair value of plan assets		847,013	858,605	896,071	$ 870,386
Foreign Pension Plan [Member]
Net pension costs (credits):
Service costs		4,225	5,071	5,261
Interest costs		7,441	8,719	10,422
Expected returns on plan assets		(6,915)	(9,296)	(10,836)
Amortization of actuarial losses		1,540	1,910	1,413
Ongoing pension costs (credits)		6,291	6,404	6,260
Settlement costs (credits)		4,231	3,255	(3,422)
Net pension costs (credits)		10,522	9,659	2,838
Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes):
Net actuarial losses arising during the year		17,030	1,907	21,792
Amortization of actuarial losses		(1,540)	(1,910)	(1,413)
Exchange rate loss recognized during year		(11,627)	(5,830)	(7,988)
Total recognized in Cumulative other comprehensive loss		3,863	(5,833)	12,391
Total recognized in net pension costs (credits) and Cumulative other comprehensive loss		14,385	3,826	15,229
Investments at fair value:
Fair value of plan assets		$ 165,008	$ 162,339	$ 187,645	$ 184,963
[1]	This category includes pooled investment funds and private equity funds that are measured at NAV or its equivalent using the practical expedient. Therefore, these investments are not classified in the fair value hierarchy.
[2]	This category includes actively managed equity assets that track primarily to the S&P 500.
[3]	This category includes government and corporate bonds that track primarily to the Barclays Capital Aggregate Bond Index.
[4]	This category includes real estate and pooled investment funds.

Pension, Health Care and Post59

Pension, Health Care and Postretirement Benefits Other Than Pensions - Obligations, Plan Assets and Assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Plan assets:
Balances at beginning of year	$ 742,521	$ 800,834
Balances at end of year	701,791	742,521	$ 800,834
Assets and liabilities recognized in the Consolidated Balance Sheets:
Deferred pension assets	225,529	244,882	250,144
Other accruals	(578,547)	(522,280)	(508,581)
Other long-term liabilities	(583,178)	(613,367)	(628,309)
Domestic Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations at end of year	630,159	621,873	648,480
Projected benefit obligations:
Balances at beginning of year	624,791	653,338	582,036
Service costs	22,291	21,120	21,342
Interest costs	26,498	24,535	26,266
Actuarial losses (gains)	8,132	(40,602)	68,748
Contributions and other	2,081		2,242
Benefits paid	(50,996)	(33,600)	(47,296)
Balances at end of year	632,797	624,791	653,338
Plan assets:
Balances at beginning of year	858,605	896,071	870,386
Actual returns on plan assets	39,404	(3,866)	72,256
Contributions and other			725
Benefits paid	(50,996)	(33,600)	(47,296)
Balances at end of year	847,013	858,605	896,071
Excess (deficient) plan assets over projected benefit obligations	214,216	233,814	242,733
Assets and liabilities recognized in the Consolidated Balance Sheets:
Deferred pension assets	214,216	233,814	242,733
Other long-term liabilities
Total	214,216	233,814	242,733
Amounts recognized in Cumulative other comprehensive loss:
Net actuarial losses	(134,847)	(120,454)	(107,057)
Prior service costs	(6,015)	(5,138)	(6,448)
Total recognized in Cumulative other comprehensive loss	$ (140,862)	$ (125,592)	$ (113,505)
Weighted-average assumptions used to determine projected benefit obligations:
Discount rate (percentage)	4.20%	4.40%	3.95%
Rate of compensation increase (percentage)	3.38%	3.14%	4.00%
Weighted-average assumptions used to determine net pension costs:
Discount rate (percentage)	4.40%	3.95%	4.65%
Expected long-term rate of return on assets (percentage)	6.00%	6.00%	6.00%
Rate of compensation increase (percentage)	3.14%	4.00%	4.00%
Foreign Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations at end of year	$ 172,047	$ 172,426	$ 203,610
Projected benefit obligations:
Balances at beginning of year	201,854	234,524	222,996
Service costs	4,225	5,071	5,261
Interest costs	7,441	8,719	10,422
Actuarial losses (gains)	43,736	(3,045)	32,551
Contributions and other	947	1,072	(6,692)
Settlements	(14,862)	(18,707)	(3,370)
Effect of foreign exchange	(30,360)	(17,211)	(18,987)
Benefits paid	(6,108)	(8,569)	(7,657)
Balances at end of year	206,873	201,854	234,524
Plan assets:
Balances at beginning of year	162,339	187,645	184,963
Actual returns on plan assets	33,569	4,844	20,240
Contributions and other	15,019	11,424	7,328
Settlements	(14,862)	(18,707)	(3,370)
Effect of foreign exchange	(24,949)	(14,298)	(13,859)
Benefits paid	(6,108)	(8,569)	(7,657)
Balances at end of year	165,008	162,339	187,645
Excess (deficient) plan assets over projected benefit obligations	(41,865)	(39,515)	(46,879)
Assets and liabilities recognized in the Consolidated Balance Sheets:
Deferred pension assets	11,313	11,068	7,411
Other accruals	(1,522)	(1,442)	(810)
Other long-term liabilities	(51,656)	(49,141)	(53,480)
Total	(41,865)	(39,515)	(46,879)
Amounts recognized in Cumulative other comprehensive loss:
Net actuarial losses	(45,604)	(41,741)	(47,574)
Total recognized in Cumulative other comprehensive loss	$ (45,604)	$ (41,741)	$ (47,574)
Weighted-average assumptions used to determine projected benefit obligations:
Discount rate (percentage)	3.21%	4.20%	3.92%
Rate of compensation increase (percentage)	4.43%	4.00%	3.70%
Weighted-average assumptions used to determine net pension costs:
Discount rate (percentage)	4.20%	3.92%	4.89%
Expected long-term rate of return on assets (percentage)	4.70%	4.84%	5.58%
Rate of compensation increase (percentage)	4.00%	3.70%	4.31%

Pension, Health Care and Post60

Pension, Health Care and Postretirement Benefits Other Than Pensions - Obligations and Assumptions for Postretirement Benefits Other than Pensions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Liabilities recognized in the Consolidated Balance Sheets:
Postretirement benefits other than pensions	$ (250,397)	$ (248,523)	$ (277,892)
Other accruals	(578,547)	(522,280)	(508,581)
Postretirement Benefits Other than Pensions [Member]
Benefit obligation:
Balances at beginning of year	263,383	295,149	286,651
Service costs	2,244	2,485	2,434
Interest costs	11,009	11,182	12,782
Actuarial loss (gain)	7,548	(19,370)	27,757
Plan amendments		(9,269)	(19,043)
Benefits paid	(19,047)	(16,794)	(15,432)
Balances at end of year	265,137	263,383	295,149
Liabilities recognized in the Consolidated Balance Sheets:
Postretirement benefits other than pensions	(250,397)	(248,523)	(277,892)
Other accruals	(14,740)	(14,860)	(17,257)
Total	(265,137)	(263,383)	(295,149)
Amounts recognized in Cumulative other comprehensive loss:
Net actuarial losses	(23,211)	(15,664)	(36,044)
Prior service credits	19,205	25,784	21,043
Total recognized in Cumulative other comprehensive loss	$ (4,006)	$ 10,120	$ (15,001)
Weighted-average assumptions used to determine benefit obligation:
Discount rate (percentage)	4.10%	4.30%	3.90%
Health care cost trend rate - pre-65 (percentage)	6.00%	6.00%	7.00%
Health care cost trend rate - post-65 (percentage)	5.50%	5.00%	6.50%
Prescription drug cost increases (percentage)	10.50%	11.50%	6.50%
Employer Group Waiver Plan (EGWP) trend rate (percentage)	10.60%	11.50%	8.00%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate (percentage)	4.30%	3.90%	4.60%
Health care cost trend rate - pre-65 (percentage)	6.00%	7.00%	7.50%
Health care cost trend rate - post-65 (percentage)	5.00%	6.50%	6.50%
Prescription drug cost increases (percentage)	11.50%	6.50%	7.00%

Pension, Health Care and Post61

Pension, Health Care and Postretirement Benefits Other Than Pensions - Components of Net Pension Costs and Cumulative OCI for Postretirement Benefits Other than Pensions (Details) - Postretirement Benefits Other than Pensions [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net pension costs (credits):
Service costs	$ 2,244	$ 2,485	$ 2,434
Interest costs	11,009	11,182	12,782
Amortization of actuarial losses		1,011
Amortization of prior service credit	(6,578)	(4,529)	(503)
Net pension costs (credits)	6,675	10,149	14,713
Other changes in projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes):
Net actuarial loss (gain) arising during the year	7,548	(19,370)	27,757
Prior service costs arising during the year		(9,269)	(19,043)
Amortization of actuarial losses		(1,011)
Amortization of prior service credit	6,578	4,529	503
Total recognized in Cumulative other comprehensive loss	14,126	(25,121)	9,217
Total recognized in net pension costs (credits) and Cumulative other comprehensive loss	$ 20,801	$ (14,972)	$ 23,930

Pension, Health Care and Post62

Pension, Health Care and Postretirement Benefits Other Than Pensions - Effects of Trend Rate Changes and Future Benefit Cash Payments (Details) - Other Postretirement Benefit Plan [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Significant effect on amounts reported for service and interest rate component and postretirement health care benefit obligation
Effect on total of service and interest cost components, one-percentage-point, increase	$ 86
Effect on total of service and interest cost components, one-percentage-point, decrease	(131)
Effect on the postretirement benefit obligation one-percentage-point, increase	552
Effect on the postretirement benefit obligation one-percentage-point, decrease	(1,221)
Retiree health care benefit cash payments
2,017	14,740
2,018	16,551
2,019	17,398
2,020	17,990
2,021	18,334
2022 through 2026	93,300
Total expected benefit cash payments	$ 178,313

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015		Jul. 28, 2015	Dec. 31, 2014
Long-term debt
Long-term debt		$ 1,211,326	$ 1,907,278	[1]		$ 1,115,996	[1]
Senior Notes [Member] | 3.45 % Senior notes due 2025 [Member]
Long-term debt
Long-term debt		$ 396,898	396,536	[1]
Interest rate (percentage)		3.45%			3.45%
Senior Notes [Member] | 4.55% Senior notes due 2045 [Member]
Long-term debt
Long-term debt		$ 393,637	393,414	[1]
Interest rate (percentage)		4.55%			4.55%
Senior Notes [Member] | 4.00% Senior notes due 2042 [Member]
Long-term debt
Long-term debt		$ 295,938	295,781	[1]		295,624	[1]
Interest rate (percentage)		4.00%
Senior Notes [Member] | 1.35% Senior notes due 2017 [Member]
Long-term debt
Long-term debt	[1]		697,530			696,240
Interest rate (percentage)		1.35%
Senior Notes [Member] | 2.00% to 8.00% Promissory Notes [Member]
Long-term debt
Long-term debt		$ 2,417	1,628	[1]		1,791	[1]
Senior Notes [Member] | 2.00% to 8.00% Promissory Notes [Member] | Minimum [Member]
Long-term debt
Interest rate (percentage)		2.00%
Senior Notes [Member] | 2.00% to 8.00% Promissory Notes [Member] | Maximum [Member]
Long-term debt
Interest rate (percentage)		8.00%
Debentures [Member] | 7.375% Debentures due 2027 [Member]
Long-term debt
Long-term debt		$ 118,936	118,889	[1]		118,841	[1]
Interest rate (percentage)		7.375%
Debentures [Member] | 7.45 % Debentures due 2097 [Member]
Long-term debt
Long-term debt		$ 3,500	$ 3,500	[1]		$ 3,500	[1]
Interest rate (percentage)		7.45%
[1]	Revised due to the adoption of ASU No. 2015-03. See Note 1.

Debt - Long-term Borrowings (De

Debt - Long-term Borrowings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2016	Apr. 30, 2016	Jul. 28, 2015
Additional Debt (Textual) [Abstract]
Maturities of long-term debt 2017	$ 701,679,000
Maturities of long-term debt 2018	754,000
Maturities of long-term debt 2019	248,000
Maturities of long-term debt 2020	252,000
Maturities of long-term debt 2021	256,000
Interest expense on long-term debt	75,509,000	$ 54,634,000	$ 56,408,000
Debt (Textual) [Abstract]
Borrowing outstanding	0	0	0
Amortization of credit facility and debt issuance costs	63,759,000	$ 3,096,000	$ 3,224,000
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Debt (Textual) [Abstract]
Notional amount of interest rate locks				$ 3,575,000,000
Derivative pretax gain recognized in OCI	137,233,000
Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Debt (Textual) [Abstract]
Interest rate lock asset	137,233,000
Line of Credit [Member] | Interest Expense [Member]
Debt (Textual) [Abstract]
Amortization of credit facility and debt issuance costs	61,104,000
Periodic fees	11,740,000
Line of Credit [Member] | Other Current Assets [Member]
Debt (Textual) [Abstract]
Debt issuance costs	65,100,000
Bridge Credit Agreement [Member] | Line of Credit [Member] | Bridge Loan [Member]
Debt (Textual) [Abstract]
Maximum borrowing capacity					$ 7,300,000,000
Borrowing outstanding	$ 0
Senior Notes [Member] | 3.45 % Senior notes due 2025 [Member]
Debt (Textual) [Abstract]
Face amount						$ 400,000,000
Interest rate (percentage)	3.45%					3.45%
Senior Notes [Member] | 4.55% Senior notes due 2045 [Member]
Debt (Textual) [Abstract]
Face amount						$ 400,000,000
Interest rate (percentage)	4.55%					4.55%
Line of Credit [Member] | Term Credit Agreement [Member]
Debt (Textual) [Abstract]
Maximum borrowing capacity					$ 2,000,000,000

Debt - Short-term Borrowings (D

Debt - Short-term Borrowings (Details)	May 09, 2016USD ($)	Jul. 16, 2015USD ($)subsidiaryoption	Nov. 14, 2012USD ($)	Apr. 23, 2012USD ($)	Jan. 30, 2012USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jul. 16, 2015EUR (€)subsidiaryoption	Jul. 16, 2015CADsubsidiaryoption	Dec. 31, 2014USD ($)
Debt (Textual) [Abstract]
Short-term borrowing outstanding						$ 40,739,000	$ 39,462,000			$ 679,436,000
Borrowing outstanding						0	0			0
May 2016, Five Year Credit Agreement [Member] | Line of Credit [Member]
Debt (Textual) [Abstract]
Term (in years)	5 years
Maximum borrowing capacity	$ 200,000,000
Five Year Senior Unsecured Revolving Credit Agreement [Member]
Debt (Textual) [Abstract]
Maximum borrowing capacity		$ 1,050,000,000
Three year credit agreement [Member]
Debt (Textual) [Abstract]
Term (in years)			3 years
Maximum borrowing capacity			$ 250,000,000
Line of Credit [Member]
Debt (Textual) [Abstract]
Number of subsidiaries | subsidiary		3						3	3
Term (in years)		5 years
Maximum borrowing capacity		$ 1,350,000,000
Number of extension options | option		2						2	2
Term of extension options (in years)		1 year
Maximum borrowing capacity pursuant to extension options		$ 1,850,000,000
Sherwin Williams Canada Inc [Member]
Debt (Textual) [Abstract]
Maximum borrowing capacity | CAD									CAD 150,000,000
Sherwin Williams Luxembourg [Member]
Debt (Textual) [Abstract]
Maximum borrowing capacity | €								€ 95,000,000
Short-term borrowing outstanding						$ 15,780,000
Weighted average interest rate (percentage)						0.90%
Foreign Programs [Member]
Debt (Textual) [Abstract]
Short-term borrowing outstanding						$ 24,959,000
Weighted average interest rate (percentage)						12.30%
Domestic Commercial Paper Program [Member]
Debt (Textual) [Abstract]
Short-term borrowing outstanding						$ 0	$ 0			$ 625,860,000
Weighted average interest rate (percentage)										0.30%
Five Year Agreement Dated January 30, 2012 [Member]
Debt (Textual) [Abstract]
Term (in years)					5 years
Maximum borrowing capacity					$ 500,000,000
Five year agreement dated April 23, 2012 [Member]
Debt (Textual) [Abstract]
Term (in years)				5 years
Maximum borrowing capacity				$ 250,000,000

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) $ in Thousands	Dec. 31, 2016USD ($)ManufacturingSite	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Other Long-Term Liabilities (Textual) [Abstract]
Accruals for extended environmental-related activities	$ 163,847	$ 129,856	$ 114,281
Estimated costs of current investigation and remediation activities included in other accruals	19,969	$ 22,493	$ 16,868
Amount by which unaccrued maximum of estimated range exceeds minimum	$ 87,021
Number of manufacturing sites accounting for the majority of the accrual for environmental-related activities | ManufacturingSite	3
Accruals for environmental-related activities of sites accounting for the majority of the accrual for environmental-related activities	$ 153,299
Percentage of accrual for environmental-related activities related to sites accounting for the majority of the accrual for environmental-related activities	83.40%
Amount of unaccrued maximum related to sites accounting for the majority of the accrual for environmental-related activities	$ 70,513
Percentage of aggregate unaccrued maximum related to sites accounting for the majority of the accrual for environmental-related activities	81.00%

Litigation (Details)

Litigation (Details) $ in Thousands	Jan. 27, 2014USD ($)defendant	Jul. 01, 2008jury_trialdefendant	Dec. 31, 2014USD ($)	Dec. 31, 2016cases
Trial by Jury, State of Rhode Island [Member]
Loss Contingencies [Line Items]
Number of jury trials | jury_trial		2
Number of additional defendants | defendant		2
Santa Clara County, California Proceeding [Member]
Loss Contingencies [Line Items]
Number of additional defendants liable for damages awarded | defendant	2
Amount payable jointly and severally for litigation | $	$ 1,150,000
Personal Injury [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of cases pending | cases				3
Titanium Dioxide Antitrust Litigation [Member]
Loss Contingencies [Line Items]
Settlement gain related to litigation settlement | $			$ 21,420

Capital Stock (Details)

Capital Stock (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Capital Stock (Textual) [Abstract]
Common stock authorized (in shares)	300,000,000
Preferred stock authorized (in shares)	30,000,000
Common stock reserved for exercise and future grants of restricted stock (in shares)	7,720,815	8,824,943	10,304,816
Common stock held in revocable trust (in shares)	488,714	487,900	487,075
Schedule of Capital Stock
Common shares outstanding, beginning (in shares)	92,246,525	94,704,173
Common shares outstanding, ending (in shares)	93,013,031	92,246,525	94,704,173
2006 Employee Plan [Member]
Capital Stock (Textual) [Abstract]
Number of shares authorized (in shares)	19,200,000
Treasury Stock [Member]
Schedule of Capital Stock
Common shares in treasury, beginning (in shares)	23,514,054	19,813,079	12,772,498
Shares tendered as payment for option rights exercised (in shares)	3,441	14,542	7,229
Shares tendered in connection with grants of restricted stock (in shares)	59,916	111,433	108,352
Treasury stock purchased (in shares)		3,575,000	6,925,000
Common shares in treasury, ending (in shares)	23,577,411	23,514,054	19,813,079
Common Stock [Member]
Schedule of Capital Stock
Common shares outstanding, beginning (in shares)	92,246,525	94,704,173	100,129,380
Shares tendered as payment for option rights exercised (in shares)	(3,441)	(14,542)	(7,229)
Shares issued for exercise of option rights (in shares)	733,876	1,133,050	1,423,395
Shares tendered in connection with grants of restricted stock (in shares)	(59,916)	(111,433)	(108,352)
Net shares issued for grants of restricted stock (in shares)	95,987	110,277	191,979
Treasury stock purchased (in shares)		(3,575,000)	(6,925,000)
Common shares outstanding, ending (in shares)	93,013,031	92,246,525	94,704,173
Cumulative Preferred Stock [Member]
Capital Stock (Textual) [Abstract]
Preferred stock authorized (in shares)	3,000,000
Convertible Preferred Stock [Member]
Capital Stock (Textual) [Abstract]
Preferred stock authorized (in shares)	1,000,000

Stock Purchase Plan (Details)

Stock Purchase Plan (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)employeeshares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Stock Purchase Plan (Textual) [Abstract]
Employees contributed to company's ESOP | employee	36,013
Participants percentage contribution on a pretax basis only of their annual compensation (up to the lesser of)	20.00%
Percentage of matching contribution to ESOP Plan by employer	100.00%
Percentage of eligible contribution plan up to which employer contributes (up to)	6.00%
Company contributions to ESOP on behalf of participating employees representing amounts authorized by employees to be withheld from their earnings on pre-tax basis	$ 127,697	$ 120,514	$ 109,036
Company's matching contributions to the ESOP	$ 85,525	$ 80,356	$ 74,574
Employee stock ownership plan common stock shares held in ESOP (in shares) | shares	10,710,973
Percentage of total voting shares outstanding held by the ESOP	11.50%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)right$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013shares
Stock-Based Compensation (Textual) [Abstract]
Unrecognized stock-based compensation expense	$ 98,080
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	1 year 17 days
Stock-based compensation expense	$ 72,109	$ 72,342	$ 64,735
Income tax benefit related to stock-based compensation expense	$ 27,442	$ 27,634	$ 24,816
Expiration period (in years)	10 years
Award vesting period (in years)	3 years
Weighted-average per share fair value of option rights granted during the year (in dollars per share) | $ / shares	$ 49.36	$ 50.73	$ 43.11
Fair value of options vested	$ 32,476	$ 32,655	$ 32,313
Outstanding option rights (in shares) | shares	5,163,709	5,219,506	5,699,892	6,484,592
Weighted average remaining term for options outstanding (in years)	6 years 3 months 1 day	6 years 5 months 8 days	6 years 6 months 24 days
Weighted average remaining term for options exercisable (in years)	5 years 2 months 12 days	5 years 5 months 18 days	5 years 7 months 16 days
Shares reserved for future grants of option rights restricted stock (in shares) | shares	2,557,106	3,605,437	4,604,924
Employees [Member]
Stock-Based Compensation (Textual) [Abstract]
Intrinsic value of exercised option rights	$ 129,230	$ 223,417	$ 195,097
Non-employee Plan [Member]
Stock-Based Compensation (Textual) [Abstract]
Number of shares authorized (in shares) | shares	200,000
Number of appreciation rights, performance shares or performance units granted | right	0
Award vesting period (in years)	3 years
Outstanding option rights (in shares) | shares	0	0	0
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized stock-based compensation expense	$ 42,622
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	1 year 30 days
Estimated forfeiture rate (percentage)	2.00%
Award vesting percentage	33.333%
Restricted Stock [Member] | Employees [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized stock-based compensation expense	$ 53,995
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	11 months 3 days
Restricted Stock [Member] | Non-Employee Directors [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized stock-based compensation expense	$ 1,463
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	10 months 21 days
Performance Shares [Member]
Stock-Based Compensation (Textual) [Abstract]
Service period required for vesting of grants (in years)	3 years
Time Shares [Member]
Stock-Based Compensation (Textual) [Abstract]
Award vesting period (in years)	3 years
Restricted Stock [Member]
Stock-Based Compensation (Textual) [Abstract]
Weighted-average fair value of restricted stock granted during the year (in dollars per share) | $ / shares	$ 257.99	$ 285.88	$ 191.60
2006 Employee Plan [Member]
Stock-Based Compensation (Textual) [Abstract]
Number of shares authorized (in shares) | shares	19,200,000
Number of appreciation rights, performance shares or performance units granted | right	0
2006 Employee Plan [Member] | Restricted Stock [Member]
Stock-Based Compensation (Textual) [Abstract]
Award vesting percentage	33.333%
Service period required for vesting of grants (in years)	3 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Option rights
Risk-free interest rate	1.24%	1.37%	1.47%
Expected life of option rights	5 years 18 days	5 years 18 days	5 years 1 month 6 days
Expected dividend yield of stock	1.06%	1.13%	1.19%
Expected volatility of stock	21.20%	24.50%	22.30%
Optioned Shares
Outstanding beginning of year (in shares)	5,219,506	5,699,892	6,484,592
Granted (in shares)	712,967	697,423	672,565
Exercised (in shares)	(733,876)	(1,133,287)	(1,421,045)
Forfeited (in shares)	(26,653)	(43,632)	(31,617)
Expired (in shares)	(8,235)	(890)	(4,603)
Outstanding end of year (in shares)	5,163,709	5,219,506	5,699,892
Weighted- Average Exercise Price Per Share
Outstanding beginning of the year, Weighted- Average Exercise Price Per Share (in dollars per share)	$ 141.58	$ 117.31	$ 96.25
Granted, Weighted- Average Exercise Price Per Share (in dollars per share)	271.46	241.84	224.65
Exercised, Weighted- Average Exercise Price Per Share (in dollars per share)	108.81	79.41	70.71
Forfeited, Weighted- Average Exercise Price Per Share (in dollars per share)	232.83	193.60	158.92
Expired, Weighted- Average Exercise Price Per Share (in dollars per share)	176.28	87.59	86.66
Outstanding end of the year, Weighted- Average Exercise Price Per Share (in dollars per share)	$ 163.61	$ 141.58	$ 117.31
Exercisable at end of year, optioned shares (in shares)	3,783,755	3,807,351	4,095,246
Exercisable at end of year, Weighted- Average Exercise Price Per Share (in dollars per share)	$ 130.59	$ 110.96	$ 87.79
Outstanding end of year, Aggregate Intrinsic Value	$ 545,531	$ 616,866	$ 830,647
Exercisable at end of year, Aggregate Intrinsic Value	$ 522,921	$ 565,934	$ 717,691

Stock-Based Compensation - Su72

Stock-Based Compensation - Summary of Restricted Stock (Details) - Restricted Stock [Member] - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of the Company's restricted stock activity
Outstanding at beginning of year (in shares)	467,744	655,276	749,382
Granted (in shares)	99,662	112,494	201,412
Vested (in shares)	(166,405)	(290,901)	(294,438)
Forfeited (in shares)	(3,675)	(9,125)	(1,080)
Outstanding at end of year (in shares)	397,326	467,744	655,276

Other - Other General Expense a

Other - Other General Expense and Other (Income) Expense (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other general expense - net
Provisions for environmental matters - net	$ 9,330	$ 42,932	$ 31,071	$ 36,046
(Gain) loss on sale or disposition of assets		(30,564)	(803)	1,436
Total		12,368	30,268	37,482
Other (income) expense - net
Dividend and royalty income		(4,573)	(3,668)	(4,864)
Net expense from financing activities		8,667	11,091	11,367
Foreign currency transaction related losses		7,335	9,503	3,603
Other income		(25,279)	(23,880)	(37,524)
Other expense		9,263	13,036	12,018
Total		$ (4,587)	$ 6,082	$ (15,400)

Other - Narrative (Details)

Other - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)contractoption_plan	Dec. 31, 2016contractoption_plan	Dec. 31, 2015contractoption_plan
Other Income and Expenses [Abstract]
Number of foreign currency option outstanding | option_plan	0	0	0
Number of foreign forward contracts outstanding | contract	0	0	0
Global Finishes Group [Member]
Segment Reporting Information [Line Items]
Gain on early termination of customer agreement	$ 6,336
Administrative [Member] | Acquisition of Comex US Canada Business [Member]
Segment Reporting Information [Line Items]
Realized gain on final asset valuations	$ 6,198

Income Taxes - Impact of New Ac

Income Taxes - Impact of New Accounting Pronouncements (Details) - Accounting Standards Update 2016-09 [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in Other capital	$ 44,233
Decrease in income taxes	44,233
Increase in Net income	$ 44,233
Increase in Average shares and equivalents outstanding - diluted (in shares) | shares	588,708
Increase in Basic net income per common share (in dollars per share) | $ / shares	$ 0.48
Increase in Diluted net income per common share (in dollars per share) | $ / shares	$ 0.40

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities and Provisions for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Exit costs, environ-mental and other similar items	$ 74,535	$ 63,851	$ 56,441
Employee related and benefit items	166,313	141,974	141,670
Other items	148,910	116,302	112,149
Total deferred tax assets	389,758	322,127	310,260
Deferred tax liabilities:
Depreciation and amortization	254,430	241,101	227,765
LIFO inventories	83,659	89,330	67,835
Other items	59,746	33,433	44,378
Total deferred tax liabilities	397,835	363,864	339,978
Net deferred tax liabilities	8,077	41,737	29,718
Current:
Federal	438,244	399,677	308,283
Foreign	31,125	30,145	53,045
State and local	61,402	60,319	50,049
Total current	530,771	490,141	411,377
Deferred:
Federal	(56,891)	13,505	(14,974)
Foreign	(2,121)	(10,752)	(7,361)
State and local	(9,229)	2,223	3,297
Total deferred	(68,241)	4,976	(19,038)
Total provisions for income taxes	$ 462,530	$ 495,117	$ 392,339

Income Taxes - Income Before In

Income Taxes - Income Before Income Taxes, Effective Tax Rate Reconciliation, and Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Components of income before income taxes as used for income tax purposes
Domestic	$ 1,504,990	$ 1,440,511	$ 1,113,528
Foreign	90,243	108,455	144,698
Income before income taxes	$ 1,595,233	$ 1,548,966	$ 1,258,226
Reconciliation of the statutory federal income tax rate to the effective tax rate
Statutory federal income tax rate	35.00%	35.00%	35.00%
State and local income taxes	2.30%	2.60%	2.80%
Investment vehicles	(1.50%)	(1.60%)	(2.50%)
Domestic production activities	(2.90%)	(2.20%)	(2.50%)
Employee share-based payments	(2.80%)
Other - net	(1.10%)	(1.80%)	(1.60%)
Effective tax rate	29.00%	32.00%	31.20%
Reconciliation of unrecognized tax benefits
Balance at beginning of year	$ 33,873	$ 31,560	$ 30,997
Additions based on tax positions related to the current year	5,674	4,228	3,370
Additions for tax positions of prior years	3,890	8,450	4,428
Reductions for tax positions of prior years	(5,901)	(4,862)	(2,349)
Settlements	(3,763)	(968)	(4,089)
Lapses of Statutes of Limitations	(968)	(4,535)	(797)
Balance at end of year	$ 32,805	$ 33,873	$ 31,560

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Valuation reserves for other deferred tax assets	$ 17,292	$ 14,663	$ 9,071
Domestic net operating loss carryforward	26,980
Foreign net operating losses carryforward	83,354
Effect of the repatriation provisions of the American Jobs Creation Act of 2004 and the provisions of the Income Taxes Topic of the ASC	313	(5,895)	(1,887)
Unrecognized tax benefits adjusted	27,686	30,007	28,208
Amount of unrecognized tax benefits where significant change is reasonably possible	2,607
Income tax interest and penalties	1,410	2,918	2,144
Accrued income tax interest and penalties	$ 9,275	$ 8,550	$ 5,732

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended																12 Months Ended
		Dec. 31, 2016		Sep. 30, 2016	[1]	Jun. 30, 2016	[1]	Mar. 31, 2016	[1]	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Basic
Average common shares outstanding (in shares)																		91,838,603		92,197,207		96,190,101
Net income		$ 203,030	[1]	$ 386,733		$ 378,064		$ 164,876		$ 198,017		$ 374,491		$ 349,937		$ 131,404		$ 1,132,703	[1]	$ 1,053,849		$ 865,887
Net income per common share - basic (in dollars per share)		$ 2.20	[1],[2]	$ 4.20	[2]	$ 4.12	[2]	$ 1.80	[2]	$ 2.16	[2]	$ 4.06	[2]	$ 3.79	[2]	$ 1.42	[2]	$ 12.33	[1],[2],[3]	$ 11.43	[2],[3]	$ 9	[3]
Diluted
Average common shares outstanding (in shares)																		91,838,603		92,197,207		96,190,101
Stock options and other contingently issuable shares (in shares)	[4]																	2,089,921		1,826,885		1,885,334
Non-vested restricted stock grants (in shares)																		559,562		519,451		665,086
Average common shares outstanding assuming dilution (in shares)																		94,488,086		94,543,543		98,740,521
Net income		$ 203,030	[1]	$ 386,733		$ 378,064		$ 164,876		$ 198,017		$ 374,491		$ 349,937		$ 131,404		$ 1,132,703	[1]	$ 1,053,849		$ 865,887
Net income per common share - diluted (in dollars per share)		$ 2.15	[1],[2]	$ 4.08	[2]	$ 3.99	[2]	$ 1.75	[2]	$ 2.11	[2]	$ 3.97	[2]	$ 3.70	[2]	$ 1.38	[2]	$ 11.99	[1],[2],[3]	$ 11.15	[2],[3]	$ 8.77	[3]
Net Income Per Common Share (Textual) [Abstract]
Common shares outstanding, anti-dilutive (in shares)																		62,935		34,463		608,477
Percent restricted shares representing outstanding shares		1.00%																1.00%
[1]	First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14.
[2]	Presented under the treasury stock method. See Note 15.
[3]	Presented under the treasury stock method. See Note 15.
[4]	Stock options and other contingently issuable shares excludes 62,935, 34,463 and 608,477 shares at December 31, 2016, 2015 and 2014, respectively, due to their anti-dilutive effect.

Summary of Quarterly Results 80

Summary of Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]
Net sales	$ 2,782,591		$ 3,279,462		$ 3,219,525		$ 2,574,024		$ 2,604,596		$ 3,152,285		$ 3,132,139		$ 2,450,284		$ 11,855,602		$ 11,339,304		$ 11,129,533
Gross profit	1,388,438		1,636,289		1,635,793		1,261,745		1,322,239		1,574,552		1,529,986		1,132,449		5,922,265		5,559,226		5,164,484
Net income	$ 203,030	[1]	$ 386,733	[1]	$ 378,064	[1]	$ 164,876	[1]	$ 198,017		$ 374,491		$ 349,937		$ 131,404		$ 1,132,703	[1]	$ 1,053,849		$ 865,887
Net income per common share - basic (in dollars per share)	$ 2.20	[1],[2]	$ 4.20	[1],[2]	$ 4.12	[1],[2]	$ 1.80	[1],[2]	$ 2.16	[2]	$ 4.06	[2]	$ 3.79	[2]	$ 1.42	[2]	$ 12.33	[1],[2],[3]	$ 11.43	[2],[3]	$ 9	[3]
Net income per common share - diluted (in dollars per share)	$ 2.15	[1],[2]	$ 4.08	[1],[2]	$ 3.99	[1],[2]	$ 1.75	[1],[2]	$ 2.11	[2]	$ 3.97	[2]	$ 3.70	[2]	$ 1.38	[2]	$ 11.99	[1],[2],[3]	$ 11.15	[2],[3]	$ 8.77	[3]
Gain on sale of assets	$ (30,916)																$ 30,564		$ 803		$ (1,436)
Provisions for environmental-related matters	9,330																42,932		$ 31,071		$ 36,046
Impairment of goodwill and trademarks	$ 10,688																$ 10,688
Increase in basic and diluted net income per common share (in dollars per share)	$ 0.03
[1]	First quarter 2016 net income and basic and diluted net income per common share are restated due to the early adoption of ASU No. 2016-09 in the second quarter. See Notes 1 and 14.
[2]	Presented under the treasury stock method. See Note 15.
[3]	Presented under the treasury stock method. See Note 15.

Operating Leases - Narrative (D

Operating Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Leases (Textual) [Abstract]
Rental expenses	$ 417,549	$ 394,359	$ 376,914
Contingent rental included in rent expense	$ 58,865	$ 55,890	$ 52,379

Operating Leases - Schedule of

Operating Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2016USD ($)
Future minimum lease payments under noncancellable operating leases
2,017	$ 342,565
2,018	301,546
2,019	257,466
2,020	214,084
2,021	158,427
Later years	326,241
Total minimum lease payments	$ 1,600,329

Reportable Segment Informatio83

Reportable Segment Information - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)branchstoresegmentforeign_countryjoint_venture	Dec. 31, 2015USD ($)store	Dec. 31, 2014USD ($)store
Reportable Segment Information (Textual) [Abstract]
Number of reportable operating segments | segment	4
Revenues | $	$ 11,856,000	$ 11,339,000	$ 11,130,000
Segment profit | $	1,595,233	1,548,966	1,258,226
Long lived assets | $	3,125,222	3,132,981	3,139,272
Identifiable assets | $	$ 6,752,521	$ 5,778,937	$ 5,699,333
Percent of assets of consolidated foreign subsidiaries to Company's assets	18.30%	20.30%	23.90%
Non-US [Member]
Reportable Segment Information (Textual) [Abstract]
Revenues | $	$ 1,722,246	$ 1,788,955	$ 2,203,804
Segment profit | $	60,059	75,773	115,629
Long lived assets | $	477,889	497,528	551,364
Identifiable assets | $	$ 1,233,666	$ 1,172,064	$ 1,359,991
Paint Stores Group [Member]
Reportable Segment Information (Textual) [Abstract]
Number of company-operated stores	4,180
Number of net new stores	94	83	95
New stores opened	109
Number of stores closed	15
Revenues | $	$ 7,790,000	$ 7,209,000	$ 6,852,000
Paint Stores Group [Member] | United States of America [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened	86
Number of stores closed	9
Paint Stores Group [Member] | Canada [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened	21
Number of stores closed	6
Paint Stores Group [Member] | Aruba [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened	1
Paint Stores Group [Member] | Barbados [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened	1
Consumer Group [Member]
Reportable Segment Information (Textual) [Abstract]
Percent of sales of one group including intersegment transfers represented products sold through other stores group	64.00%
Revenues | $	$ 1,585,000	1,578,000	1,421,000
Global Finishes Group [Member]
Reportable Segment Information (Textual) [Abstract]
Number of company-operated stores | branch	288
New stores opened | branch	5
Number of stores closed | branch	13
Net increase (decrease) in branches | branch	(8)
Number of subsidiaries in foreign countries | foreign_country	34
Revenues | $	$ 1,889,000	$ 1,916,000	$ 2,081,000
Global Finishes Group [Member] | United States of America [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened | branch	3
Number of stores closed | branch	10
Global Finishes Group [Member] | Chile [Member]
Reportable Segment Information (Textual) [Abstract]
Number of stores closed | branch	1
Global Finishes Group [Member] | Canada [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened | branch	2
Number of stores closed | branch	2
Latin America Coatings Group [Member]
Reportable Segment Information (Textual) [Abstract]
Number of company-operated stores	339
New stores opened	49
Number of stores closed	1
Number of subsidiaries in foreign countries | foreign_country	9
Net increase in stores	48
Number of foreign joint ventures | joint_venture	4
Latin America Coatings Group [Member] | South America [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened	31
Latin America Coatings Group [Member] | Mexico [Member]
Reportable Segment Information (Textual) [Abstract]
New stores opened	18

Reportable Segment Informatio84

Reportable Segment Information - Reportable Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Dec. 31, 2016	Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2014
Reportable segment information
Total net sales and intersegment transfers			$ 11,856,000		$ 11,339,000	$ 11,130,000
Segment profit (loss)			2,164,000	[1]	1,963,000	1,695,000
Interest expense	[2]		(154,088)		(61,791)	(64,205)
Administrative expenses and other			(415,000)	[3]	(352,000)	(373,000)
Income before income taxes			1,595,233		1,548,966	1,258,226
Identifiable assets		$ 6,752,521	6,752,521		5,778,937	5,699,333
Capital expenditures			239,026		234,340	200,545
Depreciation			172,074		170,323	169,087
Impairment of goodwill and trademarks		10,688	10,688
Valspar Corporation [Member] | Interest Expense [Member]
Reportable segment information
Acquisition expenses incurred			72,844
Valspar Corporation [Member] | Selling, General and Administrative Expenses [Member]
Reportable segment information
Acquisition expenses incurred			58,409
Paint Stores Group [Member]
Reportable segment information
Total net sales and intersegment transfers			7,790,000		7,209,000	6,852,000
Consumer Group [Member]
Reportable segment information
Total net sales and intersegment transfers			1,585,000		1,578,000	1,421,000
Global Finishes Group [Member]
Reportable segment information
Total net sales and intersegment transfers			1,889,000		1,916,000	2,081,000
Latin America Coatings Group [Member]
Reportable segment information
Total net sales and intersegment transfers			587,000		631,000	771,000
Corporate, Non-Segment [Member]
Reportable segment information
Total net sales and intersegment transfers			5,000		5,000	5,000
Intersegment Eliminations [Member]
Reportable segment information
Total net sales and intersegment transfers			(2,829,000)		(2,781,000)	(2,793,000)
Intersegment Eliminations [Member] | Consumer Group [Member]
Reportable segment information
Total net sales and intersegment transfers			2,775,000		2,736,000	2,745,000
Intersegment Eliminations [Member] | Global Finishes Group [Member]
Reportable segment information
Total net sales and intersegment transfers			15,000		5,000	8,000
Intersegment Eliminations [Member] | Latin America Coatings Group [Member]
Reportable segment information
Total net sales and intersegment transfers			39,000		40,000	40,000
Operating Segments [Member] | Paint Stores Group [Member]
Reportable segment information
Total net sales and intersegment transfers			7,790,000		7,209,000	6,852,000
Segment profit (loss)			1,623,000	[1]	1,434,000	1,201,000
Income before income taxes			$ 1,623,000		$ 1,434,000	$ 1,201,000
Reportable segment margins			20.80%		19.90%	17.50%
Identifiable assets		1,779,000	$ 1,779,000		$ 1,685,000	$ 1,602,000
Capital expenditures			80,000		119,000	87,000
Depreciation			69,000		64,000	58,000
Operating Segments [Member] | Consumer Group [Member]
Reportable segment information
Total net sales and intersegment transfers			4,360,000		4,314,000	4,166,000
Segment profit (loss)			319,000	[1]	309,000	253,000
Income before income taxes			$ 319,000		$ 309,000	$ 253,000
Reportable segment margins			7.30%		7.20%	6.10%
Identifiable assets		2,005,000	$ 2,005,000		$ 1,925,000	$ 1,883,000
Capital expenditures			99,000		61,000	45,000
Depreciation			47,000		47,000	48,000
Operating Segments [Member] | Global Finishes Group [Member]
Reportable segment information
Total net sales and intersegment transfers			1,904,000		1,921,000	2,089,000
Segment profit (loss)			239,000	[1]	202,000	201,000
Income before income taxes			$ 239,000		$ 202,000	$ 201,000
Reportable segment margins			12.60%		10.50%	9.60%
Identifiable assets		818,000	$ 818,000		$ 814,000	$ 874,000
Capital expenditures			19,000		21,000	16,000
Depreciation			20,000		25,000	28,000
Operating Segments [Member] | Latin America Coatings Group [Member]
Reportable segment information
Total net sales and intersegment transfers			626,000		671,000	811,000
Segment profit (loss)			(17,000)	[1]	18,000	40,000
Income before income taxes			$ (17,000)		$ 18,000	$ 40,000
Reportable segment margins			(2.70%)		2.70%	4.90%
Identifiable assets		369,000	$ 369,000		$ 352,000	$ 427,000
Capital expenditures			19,000		14,000	8,000
Depreciation			7,000		8,000	9,000
Administrative and Intersegment Transfers [Member]
Reportable segment information
Total net sales and intersegment transfers			(2,824,000)		(2,776,000)	(2,788,000)
Segment Reconciling Items [Member]
Reportable segment information
Interest expense	[2]		(154,000)		(62,000)	(64,000)
Administrative expenses and other			(415,000)	[3]	(352,000)	(373,000)
Income before income taxes			(569,000)		(414,000)	(437,000)
Identifiable assets		$ 1,782,000	1,782,000		1,003,000	913,000
Capital expenditures			22,000		19,000	45,000
Depreciation			$ 29,000		$ 26,000	$ 26,000
[1]	Latin America Coatings Group's segment loss includes goodwill and trademark impairment of $10.7 million.
[2]	Includes costs associated with the anticipated acquisition of Valspar totaling $72.8 million.
[3]	Includes costs associated with the anticipated acquisition of Valspar totaling $58.4 million.

Valuation and Qualifying Acco85

Valuation and Qualifying Accounts and Reserves (Schedule II) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 49,420	$ 53,770	$ 54,460
Bad debt expense	29,869	30,393	34,810
Uncollectible accounts written off, net of recoveries	(38,839)	(34,743)	(35,500)
Ending balance	$ 40,450	$ 49,420	$ 53,770