The Sherwin-Williams Company (SHW) 10-K 22 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Jan. 31, 2019	Jun. 30, 2018
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, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
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 Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Public Float			$ 37,995,087,928
Entity Common Stock, Shares Outstanding		92,718,270

Statements of Consolidated Inco

Statements of Consolidated Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales		$ 17,534,493	$ 14,983,788	$ 11,855,602
Cost of goods sold	[1],[2]	10,115,931	8,264,988	5,934,344
Gross profit	[1],[2]	$ 7,418,562	$ 6,718,800	$ 5,921,258
Percent to net sales	[1],[2]	42.30%	44.80%	49.90%
Selling, general and administrative expenses	[2]	$ 5,033,780	$ 4,797,641	$ 4,140,260
Percent to net sales		28.70%	32.00%	34.90%
Other general expense - net		$ 189,122	$ 20,865	$ 12,368
Amortization		318,112	206,764	25,404
Impairment of goodwill and trademarks			2,022	10,688
Interest expense		366,734	263,471	154,088
Interest and net investment income		(5,286)	(8,571)	(4,960)
California litigation expense		136,333
Other expense (income) - net	[2]	20,117	(32,702)	(11,823)
Income from continuing operations before income taxes	[1]	1,359,650	1,469,310	1,595,233
Income tax expense (credit)	[1]	250,904	(300,178)	462,530
Net income from continuing operations	[1]	1,108,746	1,769,488	1,132,703
Loss from discontinued operations
Income taxes			41,540
Net loss from discontinued operations		0	(41,540)	0
Net income	[1],[3],[4]	$ 1,108,746	$ 1,727,948	$ 1,132,703
Basic net income per share:
Continuing operations (in dollars per share)	[1]	$ 11.92	$ 19.04	$ 12.33
Discontinued operations (in dollars per share)			(0.44)
Net income per common share - basic (in dollars per share)	[1]	11.92	18.60	12.33
Diluted net income per share
Continuing operations (in dollars per share)	[1]	11.67	18.64	11.99
Discontinued operations (in dollars per share)			(0.44)
Net income per common share - diluted (in dollars per share)	[1]	$ 11.67	$ 18.20	$ 11.99
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The years ended December 31, 2017 and 2016 have been adjusted for the adoption of ASU No. 2017-07.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[4]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	[1],[2],[3]	$ 1,108,746		$ 1,727,948	$ 1,132,703
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments		(254,306)		147,930	(18,648)
Pension and other postretirement benefit adjustments:
Amounts recognized in other comprehensive loss	[4]	(13,473)		47,995	(28,385)
Amounts reclassified from other comprehensive loss	[5]	31,245		(7,762)	7,635
Pension and other postretirement benefits		17,772		40,233	(20,750)
Unrealized net gains on available-for sale securities:
Amounts recognized in other comprehensive loss	[6]			2,026	1,046
Amounts reclassified from other comprehensive loss	[7]			(720)	89
Unrealized net gains (losses) on available-for-sale securities		0		1,306	1,135
Unrealized net (losses) gains on cash flow hedges:
Amounts recognized in other comprehensive loss	[8]			(30,765)	85,007
Amounts reclassified from other comprehensive loss		(6,210)	[9]	(3,223)		[9]
Unrealized net gains (losses) on cash flow hedges		(6,210)		(33,988)	85,007
Other comprehensive (loss) income		(242,744)		155,481	46,744
Comprehensive income	[1]	866,002		1,883,429	1,179,447
Net actuarial gains (losses) and prior service costs arising during period, tax		6,799		(19,313)	17,200
Amortization of net actuarial gains (losses) and prior service costs included in Net pension costs, tax		(10,291)		4,764	(4,691)
Unrealized holding gains (losses) arising during period, tax				(1,244)	(643)
Reclassification adjustments for losses (gains) included in net income, tax				442	(55)
Unrealized holding losses on cash flow hedges, amounts recognized in other comprehensive loss, tax				18,884	$ (52,226)
Unrealized holding losses on cash flow hedges, amounts reclassified from other comprehensive loss, tax		$ 2,045		$ 1,978
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[4]	Net of taxes of $6,799, $(19,313) and $17,200 in 2018, 2017 and 2016, respectively.
[5]	Net of taxes of $(10,291), $4,764 and $(4,691) in 2018, 2017 and 2016, respectively.
[6]	Net of taxes of $(1,244) and $(643) in 2017 and 2016, respectively.
[7]	Net of taxes of $442 and $(55) in 2017 and 2016, respectively.
[8]	Net of taxes of $18,884 and $(52,226) in 2017 and 2016, respectively.
[9]	Net of taxes of $2,045 and $1,978 in 2018 and 2017, respectively.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents		$ 155,505	$ 204,213	$ 889,793
Accounts receivable, less allowance		2,018,768	2,104,555	1,230,987
Inventories:
Finished goods	[1]	1,426,366	1,356,429	898,627
Work in process and raw materials		388,909	386,036	169,699
Total inventory		1,815,275	1,742,465	1,068,326
Deferred income taxes				57,162
Other current assets		354,939	355,697	381,030
Total current assets		4,344,487	4,406,930	3,627,298
Property, plant and equipment:
Land		244,608	254,676	115,555
Buildings		979,140	962,094	714,815
Machinery and equipment		2,668,492	2,572,963	2,153,437
Construction in progress		147,931	177,056	117,126
Total gross property, plant and equipment		4,040,171	3,966,789	3,100,933
Less allowances for depreciation		2,263,332	2,089,674	2,005,045
Total net property, plant and equipment		1,776,839	1,877,115	1,095,888
Goodwill		6,956,702	6,814,345	1,126,892
Intangible assets		5,201,579	6,002,361	255,010
Deferred pension assets		270,664	296,743	225,529
Other assets		584,008	502,023	421,904
Total Assets	[1]	19,134,279	19,899,517	6,752,521
Current liabilities:
Short-term borrowings		328,403	633,731	40,739
Accounts payable		1,799,424	1,791,552	1,034,608
Compensation and taxes withheld		504,547	508,166	398,045
Accrued taxes		80,766	79,901	76,765
Current portion of long-term debt		307,191	1,179	700,475
California litigation accrual		136,333
Other accruals		1,141,083	972,651	578,547
Total current liabilities		4,297,747	3,987,180	2,829,179
Long-term debt		8,708,057	9,885,745	1,211,326
Postretirement benefits other than pensions		257,621	274,675	250,397
Deferred income taxes	[1]	1,130,872	1,419,601	73,833
Other long-term liabilities		1,009,237	684,442	509,345
Shareholders’ equity:
Common stock		118,373	117,561	116,563
Other capital		2,896,448	2,723,183	2,488,564
Retained earnings	[1]	6,246,548	5,458,416	4,049,497
Treasury stock, at cost		(4,900,690)	(4,266,416)	(4,235,832)
Cumulative other comprehensive loss		(629,934)	(384,870)	(540,351)
Total shareholders’ equity	[1]	3,730,745	3,647,874	1,878,441
Total Liabilities and Shareholders’ Equity	[1]	$ 19,134,279	$ 19,899,517	$ 6,752,521
[1]	December 31, 2017 has been adjusted for an inventory accounting change.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Shareholders’ equity:
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock, shares outstanding (in shares)	93,116,762	93,883,645	93,013,031

Statements of Consolidated Cash

Statements of Consolidated Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities
Net income	[1],[2],[3]	$ 1,108,746	$ 1,727,948	$ 1,132,703
Adjustments to reconcile net income to net operating cash:
Loss from discontinued operations			41,540
Depreciation		278,169	284,997	172,074
Amortization of intangible assets		318,112	206,764	25,404
Amortization of inventory purchase accounting adjustments			113,833
Impairment of goodwill and trademarks			2,022	10,688
Amortization of credit facility and debt issuance costs		12,133	8,313	63,759
Provisions for environmental-related matters		176,297	15,443	42,932
Provisions for qualified exit costs		14,923	50,503	3,038
Deferred income taxes	[3]	(143,378)	(620,730)	(68,241)
Defined benefit pension plans net cost		36,371	18,153	14,851
Stock-based compensation expense		82,588	90,292	72,109
Net decrease in postretirement liability		(15,863)	(17,865)	(12,373)
Decrease in non-traded investments		72,453	65,703	64,689
Loss (gain) on sale or disposition of assets		12,825	5,422	(30,564)
Other		(13,839)	1,051	5,334
Change in working capital accounts:
Decrease (increase) in accounts receivable		18,424	(49,850)	(113,855)
(Increase) in inventories	[3]	(119,510)	(89,959)	(52,577)
Increase (decrease) in accounts payable		113,786	166,687	(118,893)
Increase (decrease) in accrued taxes		2,717	(20,878)	(2,159)
Increase in accrued compensation and taxes withheld		4,640	11,286	60,632
Decrease (increase) in refundable income taxes		20,092	(15,520)	(1,343)
Increase in California litigation accrual		136,333
Other		(46,773)	16,270	56,215
Costs incurred for environmental-related matters		(17,718)	(13,792)	(15,178)
Costs incurred for qualified exit costs		(21,256)	(45,422)	(6,267)
Other		(86,572)	(68,243)	5,594
Net operating cash		1,943,700	1,883,968	1,308,572
Investing Activities
Capital expenditures		(250,957)	(222,767)	(239,026)
Acquisitions of businesses, net of cash acquired			(8,810,315)
Proceeds from sale of assets		38,354	47,246	38,434
Increase in other investments		(39,037)	(61,526)	(103,182)
Net investing cash		(251,640)	(9,047,362)	(303,774)
Financing Activities
Net (decrease) increase in short-term borrowings		(300,942)	356,320	(899)
Proceeds from long-term debt			8,275,169	500
Payments of long-term debt		(852,627)	(1,852,812)	(1,111)
Payments for credit facility and debt issuance costs		(5,185)	(49,376)	(65,119)
Payments of cash dividends		(322,934)	(319,029)	(312,082)
Proceeds from stock options exercised		90,745	143,579	86,831
Treasury stock purchased		(613,312)
Proceeds from real estate financing transactions		225,345
Other		32,257	(39,761)	(15,473)
Net financing cash		(1,746,653)	6,514,090	(307,353)
Effect of exchange rate changes on cash		5,885	(36,276)	(13,396)
Net (decrease) increase in cash and cash equivalents		(48,708)	(685,580)	684,049
Cash and cash equivalents at beginning of year		204,213	889,793	205,744
Cash and cash equivalents at end of year		155,505	204,213	889,793
Taxes paid on income		292,169	419,695	477,786
Interest paid on debt		$ 368,045	$ 220,630	$ 153,850
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Statements of Consolidated Shar

Statements of Consolidated Shareholders' Equity - USD ($) $ in Thousands		Total		Common Stock	Other Capital	Retained Earnings	Treasury Stock	Cumulative Other Comprehensive Loss
Balance at Dec. 31, 2015		$ 867,910		$ 115,761	$ 2,330,426	$ 3,228,876	$ (4,220,058)	$ (587,095)
Shareholders' Equity [Roll Forward]
Net income		1,132,703	[1],[2],[3]			1,132,703
Other comprehensive income (loss)		46,744						46,744
Stock-based compensation activity		143,166		802	158,138		(15,774)
Cash dividends		(312,082)				(312,082)
Balance at Dec. 31, 2016		1,878,441		116,563	2,488,564	4,049,497	(4,235,832)	(540,351)
Shareholders' Equity [Roll Forward]
Net income		1,727,948	[1],[2],[3]			1,727,948
Other comprehensive income (loss)		155,481						155,481
Stock-based compensation activity		202,765		998	232,351		(30,584)
Acquired noncontrolling interest		2,268			2,268
Cash dividends		(319,029)				(319,029)
Balance at Dec. 31, 2017	[4]	3,647,874		117,561	2,723,183	5,458,416	(4,266,416)	(384,870)
Shareholders' Equity [Roll Forward]
Net income		1,108,746	[1],[2],[3]			1,108,746
Other comprehensive income (loss)		(242,744)						(242,744)
Treasury stock purchased		(613,312)					(613,312)
Stock-based compensation activity		152,297		812	172,447		(20,962)
Noncontrolling interest activity		818			818
Cash dividends		(322,934)				(322,934)
Balance at Dec. 31, 2018		$ 3,730,745		$ 118,373	$ 2,896,448	$ 6,246,548	$ (4,900,690)	$ (629,934)
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[4]	Net income, Retained earnings, and Total shareholders' equity for the year ended December 31, 2017 has been adjusted for an inventory accounting change.

Statements of Consolidated Sh_2

Statements of Consolidated Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 3.44	$ 3.4	$ 3.36

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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. Inventory Accounting Change. During the fourth quarter of 2018, the Company made a voluntary change in accounting principle to reduce the number of pools used for determining inventory cost under the last-in, first-out (LIFO) method of accounting for inventory in the United States. Following the continued Valspar (See Note 4) integration of the operations, systems, processes, manufacturing and distribution facilities, management determined that while keeping separate historical LIFO pools were possible to maintain, it was not preferable. The Company believes the elected change is preferable because it reduces the likelihood of liquidations of similar product types and achieves conformity in the composition of all pools. Comparative financial statements of 2017 have been adjusted to apply the inventory accounting change retrospectively. There was no effect on periods prior to the acquisition of Valspar in 2017. The adjustments to the 2017 financial statements are summarized in the Adjustments and Reclassifications section at the end of this Note 1. 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, Asia and Australia. Reportable segments. See Note 19 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 fair market value. See the recurring fair value measurement table on page 46 . 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 $181,171 , $189,386 and $193,413 at December 31, 2018 , 2017 and 2016 , respectively. The liabilities recorded on the balance sheets for estimated future capital contributions to the investments were $182,994 , $179,026 and $178,584 at December 31, 2018 , 2017 and 2016 , 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 8 . December 31, 2018 2017 2016 Carrying Fair Carrying Fair Carrying Fair Amount Value Amount Value Amount Value Publicly traded debt $ 8,731,731 $ 8,330,222 $ 8,742,739 $ 9,054,277 $ 1,907,704 $ 1,912,646 Non-traded debt 283,517 272,689 1,144,185 1,088,630 4,097 3,783 Derivative instruments: The Company utilizes derivative instruments as part of its overall financial risk management policy. The Company entered into foreign currency forward contracts with maturity dates of less than twelve months in 2018 , 2017 , and 2016 , primarily to hedge against value changes in foreign currency. See Note 14 . There were no material foreign currency option and forward contracts outstanding at December 31, 2018 , 2017 and 2016 . In 2016, the Company entered into a series of interest rate lock agreements which were designated as cash flow hedges. The interest rate locks settled during 2017. See Note 8 . Fair value measurements. The following table summarizes the Company’s assets and liabilities measured on a recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC: 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 assets (1) $ 52,460 $ 27,019 $ 25,441 Liabilities: Deferred compensation plan liabilities (2) $ 62,599 $ 62,599 (1) The deferred compensation plan assets consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plans, which are structured as rabbi trusts. 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 quotes. The cost basis of the investment funds is $53,719 . (2) The deferred compensation plan liabilities are the Company’s liabilities under its deferred compensation plans. The liabilities represent the fair value of the participant shadow accounts, and the value is based on quoted market prices in active markets for identical assets. Except for the acquisition-related fair value measurements described in Note 4 , there were no assets and liabilities measured at fair value on a nonrecurring basis. The acquisition-related fair value measurements qualified as level 3 measurements. 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 $45,883 , $52,997 and $40,450 at December 31, 2018 , 2017 and 2016 , 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. Accounts 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 $105,871 , $103,698 and $87,715 at December 31, 2018 , 2017 and 2016 , 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 5 . Intangible assets. Intangible assets include indefinite-lived trademarks, customer relationships and intellectual property. 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 5 . The costs of finite-lived intangible assets are amortized on a straight-line basis over the expected period of benefit, which ranges primarily from 15 to 20 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 5 and 6 . 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 6.7% – 33.3% 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 $65,622 , $75,272 and $43,658 at December 31, 2018 , 2017 and 2016 , respectively. Product warranties. The Company offers assurance type 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 2018 , 2017 and 2016 , including customer satisfaction settlements during the year, were as follows: 2018 2017 2016 Balance at January 1 $ 151,425 $ 34,419 $ 31,878 Charges to expense 31,706 39,707 38,954 Settlements (57,843 ) (53,143 ) (36,413 ) Acquisition, divestiture and other adjustments (68,221 ) 130,442 Balance at December 31 $ 57,067 $ 151,425 $ 34,419 Warranty accruals acquired in connection with the Valspar acquisition include warranties for certain products under extended furniture protection plans. The furniture protection plan business was divested during 2018 for an immaterial amount that approximated net book value. 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 9 and 14 . 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 12 . 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 7 . 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 13 . 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, 2018 , the ending balance of Cumulative other comprehensive loss included adjustments for foreign currency translation of $607,652 , net prior service costs and net actuarial losses related to pension and other postretirement benefit plans of $67,091 and unrealized net gains on interest rate lock cash flow hedges of $44,809 . At December 31, 2017 and 2016 , the ending balance of Cumulative other comprehensive loss included adjustments for foreign currency translation of $353,346 and $501,277 , respectively, net prior service costs and net actuarial losses related to pension and other postretirement benefit plans of $84,863 and $125,096 , respectively, and unrealized gains on marketable equity securities of $2,320 and $1,015 , respectively. At December 31, 2017 , the ending balance of Cumulative other comprehensive loss also included unrealized net gains on interest rate lock cash flow hedges of $51,019 . Revenue recognition. The Company recognized revenue when products were shipped and title passed to unaffiliated customers. Collectibility of amounts recorded as revenue was probable at the time of recognition. See Note 2. 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 expenses related to the distribution of products including inbound freight charges, purchase and receiving costs, warehousing costs, internal transfer costs and other 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 $51,922 , $58,474 and $58,041 for 2018 , 2017 and 2016 , respectively. See Note 10 . 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 $357,843 , $374,059 and $351,002 in advertising costs during 2018 , 2017 and 2016 , 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 11 ) was not included in outstanding shares for basic or diluted income per share calculations. All references to “shares” or “per share” information throughout this report relate to shares and are stated on a diluted per share basis, unless otherwise indicated. Basic and diluted net income per share were calculated using the treasury stock method in accordance with the Earnings Per Common Share Topic of the ASC. Basic net income per share amounts were computed based on the weighted-average number of shares outstanding during the year. Diluted net income per share amounts were computed based on the weighted-average number of shares outstanding plus all dilutive securities potentially outstanding during the year. See Note 16 . Impact of recently issued accounting standards. Effective January 1, 2018, the Company adopted ASU No. 2014-09, "Revenue from Contracts with Customers," and all the related amendments (ASC 606). ASC 606 consists of a comprehensive revenue recognition standard, which requires the recognition of revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled. The Company adopted the standard using the modified retrospective method and applied it to all contracts. Under the modified retrospective method, the comparative periods are not restated. The only significant change that resulted from the new revenue standard was that certain advertising support of $103,108 that was previously classified as Selling, general and administrative expenses is now classified as a reduction of revenue. This reclassification had no effect on Net income, and therefore, there was no adjustment to the opening balance of retained earnings. The Company does not expect the adoption of the new revenue standard to have a material impact on its Net income on an ongoing basis. See Note 2 for additional information. Effective January 1, 2018, the Company adopted ASU No. 2017-07, "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Costs." The standard requires the service component of pension and other postretirement benefit expense to be presented in the same income statement lines as other employee compensation costs, and the other components to be presented outside of operating income. The guidance on the presentation of components of pension and other postretirement benefit expense was adopted retrospectively, as required, and the practical expedient allowing estimates for comparative periods using the information previously disclosed in the pension and other postretirement benefit plan note was elected. As a result of this ASU, 2018 pension and other postretirement benefit plan expense of $3,483 , $13,930 and $26,888 was recorded in Cost of goods sold, SG&A and Other expense (income) - net, respectively. The reclassifications in the 2017 and 2016 financial statements are summarized in the Adjustments and Reclassifications section at the end of this note. Effective January 1, 2018, the Company adopted 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. As a result of this standard, changes in fair value of available-for-sale marketable securities that were previously recognized in other comprehensive income are now recognized in earnings. In addition, in accordance with the guidance, the Company reclassified its opening unrealized gains balance of $2,320 to Retained earnings. The adoption of this standard did not have a significant impact 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 (ASC 842). Under the new standard, right-of-use assets and lease liabilities arising from most leases will be recognized on the balance sheet and enhanced disclosures on key quantitative and qualitative information about leasing arrangements will be required. 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 separately amortizing the right-of-use asset and applying an effective interest method on the lease liability (financing leases). The new standard is effective for interim and annual periods starting in 2019, and the Company will apply the transitional package of practical expedients allowed by the standard to not reassess the identification, classification and initial direct costs of leases commencing before the effective date of Topic 842. The Company also will apply the practical expedient to not separate lease and non-lease components to new leases as well as existing leases through transition, and will make an accounting policy election to not apply recognition requirements of the guidance to short-term leases. The Company does not expect to elect the hindsight transitional practical expedient to determine lease term on existing leases. In July 2018, the FASB issued ASU No. 2018-11, "Leases: Targeted Improvements," which provides an optional transition method that allows entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption while comparative periods presented will continue to be in accordance with ASC Topic 840. The Company will use the optional transition method and apply the lease standard as of January 1, 2019 and does not anticipate a material cumulative-effect adjustment to the opening balance of retained earnings. The Company is nearing completion of its assessment process and its determination of the expanded disclosure regarding leases, as well as the impact to the consolidated financial statements. This final assessment includes contract analysis and updating accounting policies and related processes and controls. The Company has made enhancements to its financial information systems and internal controls in response to the new rule requirements including the implementation of a lease tracking software for managing and reporting information related to leases. Upon adoption, the Company is prepared to provide expanded disclosures in the consolidated financial statements and it expects to recognize assets and liabilities of between approximately $1.6 billion and $1.8 billion . The adoption of ASC 842 is not expected to have a material impact on the Company's results of operations, cash flows or debt covenants. Adjustments and Reclassifications. Certain amounts in the notes to the consolidated financial statements for 2016 and 2017 have been adjusted and reclassified to conform to the 2018 presentation. The table below summarizes the adjustments and reclassifications in the 2017 and 2016 Consolidated Income Statements. In addition, the Inventory Accounting Change reduced previously reported 2017 Inventories, Deferred income taxes and retained earnings by $58,910 , $14,595 and $44,315 , respectively, and reduced previously reported 2017 segment profit for Performance Coatings and Consumer Brands Groups by $35,722 and $23,188 , respectively. Although there were changes to certain captions on the Cash flow statement due to the Inventory Accounting Change, Cash flow from operations was not changed for 2017. The effect of continuing to apply the historical accounting to 2018 would not have been material. (millions of dollars except per share data) Year Ended December 31, 2017 Year Ended December 31, 2016 Previously Reported Adoption of ASU 2017-07 Inventory Accounting Change Adjusted Previously Reported Adoption of ASU 2017-07 Adjusted Cost of goods sold $ 8,202.6 $ 3.5 $ 58.9 $ 8,265.0 $ 5,932.9 $ 1.4 $ 5,934.3 Selling, general and administrative expenses 4,785.4 12.2 4,797.6 4,134.5 5.8 4,140.3 Other income (17.0 ) (15.7 ) (32.7 ) (4.6 ) (7.2 ) (11.8 ) Income from continuing operations before income taxes 1,528.2 (58.9 ) 1,469.3 1,595.2 1,595.2 Income tax (credit) expense (285.6 ) (14.6 ) (300.2 ) 462.5 462.5 Net income from continuing operations 1,813.8 (44.3 ) 1,769.5 1,132.7 1,132.7 Net income $ 1,772.3 $ (44.3 ) $ 1,727.9 $ 1,132.7 $ 1,132.7 Diluted net income per share from continuing operations $ 19.11 $ (.47 ) $ 18.64 $ 11.99 $ 11.99 Diluted net income per share $ 18.67 $ (.47 ) $ 18.20 $ 11.99 $ 11.99

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The Company manufactures and sells paint, stains, supplies, equipment and floor covering through company-operated stores, branded and private label products through retailers, and a broad range of industrial coatings directly to global manufacturing customers through company-operated branches. A large portion of the Company’s revenue is recognized at a point in time and made to customers who are not engaged in a long-term supply agreement or any form of contract with the Company. These sales are paid for at the time of sale in cash, credit card, or may be on account with the vast majority of customers having terms between 30 and 60 days, not to exceed one year. Many customers who purchase on account take advantage of early payment discounts offered by paying within 30 days of being invoiced. The Company estimates variable consideration for these sales on the basis of both historical information and current trends to estimate the expected amount of discounts to which customers are likely to be entitled. The remaining revenue is governed by long-term supply agreements and related purchase orders (“contracts”) that specify shipping terms and aspects of the transaction price including rebates, discounts and other sales incentives, such as advertising support. Contracts are at standalone pricing. The performance obligation in these contracts is determined by each of the individual purchase orders and the respective stated quantities, with revenue being recognized at a point in time when obligations under the terms of the agreement are satisfied. This generally occurs with the transfer of control of our products to the customer. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Refer to Note 19 for the Company's disaggregation of Net sales by reportable segment. As the reportable segments are aligned by similar economic factors, trends and customers, this disaggregation best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company has made payments or credits for rebates or incentives at the beginning of a long-term contract where future revenue is expected and before satisfaction of performance obligations. Under these circumstances, the Company recognizes a contract asset and amortizes these prepayments over the expected benefit life of the long-term contract typically on a straight-line basis. Management judgment is required when estimating sales-based variable consideration, determining whether it is constrained, measuring obligations for returns, refunds, and determining amortization periods for prepayments. The majority of variable consideration in the Company’s contracts include a form of volume rebate, discounts, and other incentives, where the customer receives a retrospective percentage rebate based on the amount of their purchases. In these situations, the rebates are accrued as a fixed percentage of sales and recorded as a reduction of net sales until paid to the customer per the terms of the supply agreement. Forms of variable consideration such as tiered rebates, whereby a customer receives a retrospective price decrease dependent on the volume of their purchases, are calculated using a forecasted percentage to determine the most likely amount to accrue. Management creates a baseline calculation using historical sales and then utilizing forecast information, estimates the anticipated sales volume each quarter to calculate the expected reduction to sales. The remainder of the transaction price is fixed as agreed upon with the customer, limiting estimation of revenues including constraints. The Company’s Accounts receivable and current and long-term contract assets and liabilities are summarized in the following table. Accounts Receivable, Less Allowance Contract Assets (Current) Contract Assets (Long-Term) Contract Liabilities (Current) Contract Liabilities (Long-Term) Balance at January 1, 2018 $ 2,104,555 $ 33,031 $ 135,150 $ 208,909 $ 8,745 Balance at December 31, 2018 2,018,768 56,598 213,954 272,857 8,745 The difference between the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. Provisions for estimated returns are established and the expected costs continue to be recognized as contra-revenue per ASC 606 when the products are sold. The Company only offers an assurance type warranty on products sold, and there is no material service to the customer beyond fixing defects that existed at the time of sale and no warranties are sold separately. Warranty liabilities are excluded from the table above and discussed in Note 1 . Amounts recognized during the year from deferred liabilities to Revenue were not material. The Company records a right of return liability within each of its operations to accrue for expected customer returns. Historical actual returns are used to estimate future returns as a percentage of current sales. Obligations for returns and refunds were not material individually or in the aggregate.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories were principally stated at the lower of cost or market with cost determined on the last-in, first-out (LIFO) method. The following presents the effect on inventories, net income and net income per share had the Company used the first-in, first-out (FIFO) inventory valuation method adjusted for income taxes at the statutory rate in effect at each reporting date 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. The decrease in percentage of total inventories on LIFO from 2016 to 2017 was due to the acquisition of Valspar (See Note 4) which only carried approximately 40 percent of its inventory on the LIFO method. Certain amounts in the table below for 2017 have been adjusted to reflect the Inventory Accounting Change (see Note 1). 2018 2017 2016 Percentage of total inventories on LIFO 72 % 71 % 79 % Excess of FIFO over LIFO $ 436,010 $ 288,186 $ 253,353

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS On June 1, 2017, the Company completed the acquisition of The Valspar Corporation (Valspar) at $113 per share in an all cash transaction for a total purchase price of $8.9 billion , net of divestiture proceeds of $431.0 million (Acquisition). On April 11, 2017, the Company and Valspar entered into a definitive agreement with Axalta Coating Systems Ltd. to divest the assets related to Valspar's North American industrial wood coatings business. The divestiture was also completed on June 1, 2017, and is reported as a discontinued operation with no pre-tax gain or loss, but includes the tax expense effect of this separate transaction. Proceeds of $431.0 million were received for the divested assets sold. The divestiture resulted in a tax provision of $41.5 million , which reduced basic and diluted net income per share by $.44 for the year ended December 31, 2017. The Acquisition expanded the Company's diversified array of brands and technologies, expanded its global platform and added new capabilities in its packaging and coil businesses. The preliminary and final allocation of the fair value of the Acquisition is summarized in the following table. The allocation of the fair value is based on the acquisition method of accounting and third-party valuation appraisals. The measurement period adjustments resulted from differences between the preliminary and final report of third-party valuation appraisals. (millions of dollars) Preliminary Allocation (as reported at December 31, 2017) Measurement Period Adjustments Final Allocation (as reported at June 30, 2018) Cash $ 129.1 $ 129.1 Accounts receivable 817.5 817.5 Inventories 684.5 $ (0.1 ) 684.4 Indefinite-lived trademarks 775.9 (161.6 ) 614.3 Finite-lived intangible assets 5,071.8 (148.9 ) 4,922.9 Goodwill 5,675.2 213.6 5,888.8 Property, plant and equipment 833.0 7.7 840.7 All other assets 231.1 4.0 235.1 Accounts payable (553.2 ) (553.2 ) Long-term debt (1,603.5 ) (1,603.5 ) Deferred taxes (2,028.9 ) 113.0 (1,915.9 ) All other liabilities (1,093.1 ) (27.7 ) (1,120.8 ) Total $ 8,939.4 $ — $ 8,939.4 Total, net of cash $ 8,810.3 $ 8,810.3 Finite-lived intangible assets include customer relationships of $3.2 billion and intellectual property and technology of $1.7 billion , which are being amortized over weighted average amortization periods ranging from 15 to 20 years. The measurement period adjustments for finite-lived intangible assets resulted in a $7.7 million reduction of amortization expense in the second quarter of 2018 that related to prior periods ( $5.4 million for the year ended December 31, 2017. Goodwill of $2.0 billion , $1.1 billion , and $2.8 billion was recorded in The Americas Group, Consumer Brands Group, and Performance Coatings Group, respectively, and relates primarily to expected synergies. The results of operations for Valspar are included in the Company's consolidated financial statements from the date of acquisition.

Goodwill, Intangible and Long-L

Goodwill, Intangible and Long-Lived Assets	12 Months Ended
	Dec. 31, 2018
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 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 2018, 2017 or 2016. The Company recorded goodwill of $5.9 billion , finite-lived intangibles of $4.9 billion and indefinite-lived trademarks of $614.3 million in connection with the Acquisition. See Note 4 . 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 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, 2018 did not result in any goodwill or trademark impairment. The annual impairment review performed as of October 1, 2017 resulted in trademark impairment of $2,022 in The Americas Group related to lower than anticipated sales of an acquired brand and no goodwill impairment. The annual impairment review performed as of October 1, 2016 resulted in goodwill and trademark impairment in The Americas Group of $10,455 and $233 , respectively. A summary of changes in the Company’s carrying value of goodwill by Reportable Segment is as follows: Goodwill The Americas Group Consumer Brands Group Performance Coatings Group Consolidated Totals Balance at January 1, 2016 (1) $ 295,052 $ 701,071 $ 147,210 $ 1,143,333 Impairment charged to operations (10,455 ) (10,455 ) Currency and other adjustments 813 (1,197 ) (5,602 ) (5,986 ) Balance at December 31, 2016 (2) 285,410 699,874 141,608 1,126,892 Acquisition 2,276,127 1,473,239 1,925,878 5,675,244 Currency and other adjustments (5,928 ) 60,128 (41,991 ) 12,209 Balance at December 31, 2017 (2) 2,555,609 2,233,241 2,025,495 6,814,345 Acquisition adjustments (273,922 ) (413,248 ) 900,764 213,594 Currency and other adjustments (25,133 ) (66,124 ) 20,020 (71,237 ) Balance at December 31, 2018 (2) $ 2,256,554 $ 1,753,869 $ 2,946,279 $ 6,956,702 (1) Net of accumulated impairment losses of $8,904 ( $8,113 in the Consumer Brands Group and $791 in the Performance Coatings Group). (2) Net of accumulated impairment losses of $19,359 ( $10,455 in The Americas Group, $8,113 in the Consumer Brands Group and $791 in the Performance 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 Customer Relationships Intellectual Property All Other Subtotal December 31, 2018 Weighted-average amortization period 7 years 15 years 20 years 13 years 17 years Gross $ 165,198 $ 3,103,665 $ 1,730,337 $ 315,008 $ 5,314,208 Accumulated amortization (127,303 ) (326,333 ) (136,985 ) (256,155 ) (846,776 ) Net value $ 37,895 $ 2,777,332 $ 1,593,352 $ 58,853 $ 4,467,432 $ 734,147 $ 5,201,579 December 31, 2017 Weighted-average amortization period 7 years 15 years 20 years 13 years 17 years Gross $ 165,019 $ 3,361,675 $ 1,774,000 $ 329,440 $ 5,630,134 Accumulated amortization (116,621 ) (129,568 ) (51,742 ) (257,506 ) (555,437 ) Net value $ 48,398 $ 3,232,107 $ 1,722,258 $ 71,934 $ 5,074,697 $ 927,664 $ 6,002,361 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 Amortization of finite-lived intangible assets is estimated as follows for the next five years: $306,227 in 2019 , $305,820 in 2020 , $303,348 in 2021 , $302,359 in 2022 and $298,047 in 2023 .

Exit or Disposal Activities

Exit or Disposal Activities	12 Months Ended
	Dec. 31, 2018
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 2018 , 15 stores in The Americas Group and 11 branches in the Performance Coatings Group were closed due to lower demand or redundancy. The Company continues to evaluate all legacy operations in response to the Acquisition in order to optimize restructured operations. Provisions of $12,251 and $2,672 for severance and other qualified exit costs, along with other 2018 activity, were charged to the Administrative Segment and Performance Coatings Group, respectively. There were $612 of provisions recorded for severance and other qualified exit costs related to manufacturing facilities, distribution facilities, stores and branches closed prior to 2018 . During 2017 , 13 stores in The Americas Group and 2 branches in the Performance Coatings Group were closed due to lower demand or redundancy. Accruals for exit and disposal activities of $4,456 were acquired in connection with the Acquisition. These Acquisition-related restructuring charges were recorded in the Administrative segment as presented in the table below. Provisions of $47,308 and $143 for severance and other qualified exit costs related to the Acquisition and other 2017 activity were charged to the Administrative Segment and Performance Coatings Group, respectively. Provisions for severance and other qualified exit costs related to manufacturing facilities, distribution facilities, stores and branches closed prior to 2017 of $3,052 were recorded. During 2016 , 16 stores in The Americas Group, 13 branches in the Performance Coatings Group and 2 facilities in Consumer Brands Group were closed due to lower demand or redundancy. Provisions for severance and other qualified exit cost of $1,020 and $505 were charged to Consumer Brands Group and Performance Coatings 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. At December 31, 2018 , a portion of the remaining accrual for qualified exit costs relating to facilities shutdown prior to 2016 is expected to be incurred by the end of 2019 . The remaining portion of the ending accrual for facilities shutdown prior to 2016 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: Balance at December 31, 2017 Provisions in Actual Balance at December 31, 2018 Administrative segment acquisition-related restructuring: Severance and related costs $ 6,019 $ 12,043 $ (16,939 ) $ 1,123 Other qualified exit costs 5,541 208 (1,503 ) 4,246 Performance Coatings Group facilities shutdown in 2018: Severance and related costs 13 (13 ) — Other qualified exit costs 2,047 (1,426 ) 621 Performance Coatings Group branches shutdown in 2017: Severance and related costs 14 274 (235 ) 53 Other qualified exit costs 121 338 (224 ) 235 Consumer Brands Group facilities shutdown in 2016: Severance and related costs 21 (21 ) — Performance Coatings Group branches shutdown in 2016: Severance and related costs — Other qualified exit costs 111 (77 ) 34 Severance and other qualified exit costs for facilities shutdown prior to 2016 1,558 (818 ) 740 Totals $ 13,385 $ 14,923 $ (21,256 ) $ 7,052 Balance at December 31, 2016 Acquired Balances Provisions in Actual Balance at December 31, 2017 Administrative segment Acquisition-related restructuring in 2017: Severance and related costs $ 3,303 $ 38,739 $ (36,023 ) $ 6,019 Other qualified exit costs 1,153 8,569 (4,181 ) 5,541 Performance Coatings Group stores shutdown in 2017: Severance and related costs 14 14 Other qualified exit costs 129 (8 ) 121 Consumer Brands Group facilities shutdown in 2016: Severance and related costs $ 907 2,910 (3,796 ) 21 Performance Coatings Group stores shutdown in 2016: Severance and related costs 136 (136 ) — Other qualified exit costs 269 97 (255 ) 111 The Americas Group stores shutdown in 2015: Other qualified exit costs 195 20 (215 ) — Performance Coatings Group stores shutdown in 2015: Other qualified exit costs 433 25 (446 ) 12 Severance and other qualified exit costs for facilities shutdown prior to 2015 1,908 (362 ) 1,546 Totals $ 3,848 $ 4,456 $ 50,503 $ (45,422 ) $ 13,385 Balance at December 31, 2015 Provisions in Actual Balance at December 31, 2016 Consumer Brands Group facilities shutdown in 2016: Severance and related costs $ 1,020 $ (113 ) $ 907 Performance Coatings Group stores shutdown in 2016: Severance and related costs 136 136 Other qualified exit costs 369 (100 ) 269 The Americas Group stores shutdown in 2015: Other qualified exit costs $ 12 481 (298 ) 195 Performance Coatings Group stores shutdown in 2015: Severance and related costs 1,096 (1,096 ) — Other qualified exit costs 2,750 499 (2,816 ) 433 The Americas Group stores shutdown in 2014: Other qualified exit costs 184 (81 ) 103 Consumer Brands Group facilities shutdown in 2014: Severance and related costs 445 (46 ) 399 Other qualified exit costs 52 (39 ) 13 Performance Coatings 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

Pension, Health Care and Postre

Pension, Health Care and Postretirement Benefits Other Than Pensions	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [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 full-time 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 26,323 , 26,565 and 22,708 active employees entitled to receive benefits under these plans at December 31, 2018 , 2017 and 2016 , respectively. The cost of these benefits for active employees, which includes claims incurred and claims incurred but not reported, amounted to $298,800 , $281,158 and $220,589 for 2018 , 2017 and 2016 , respectively. Defined contribution pension plans. The Company’s annual contribution for its domestic defined contribution pension plan was $65,220 , $38,426 and $36,731 for 2018 , 2017 and 2016 , 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 $19,462 , $10,480 and $6,676 for 2018 , 2017 and 2016 , 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. Prior to December 31, 2017, the Company had one salaried and one hourly domestic defined benefit pension plan. In connection with the Acquisition, the Company acquired Valspar's domestic defined benefit pension plan. Effective December 31, 2017, the three domestic defined benefit pension plans were merged into one plan. In 2018, this plan was split into two separate overfunded plans: one that will continue to operate and one that was frozen and subsequently terminated during 2018. The Company is in the process of settling the liabilities of the terminated plan through a combination of (i) lump sum payments to eligible participants who elected to receive them and (ii) the purchase of annuity contracts for participants who either did not elect lump sums or were already receiving benefit payments. The lump sum payments were paid in December 2018 and resulted in a settlement charge of $37.6 million in 2018. The annuity contracts were purchased in 2019 and are expected to result in a settlement charge of approximately $30 million to $40 million in the first quarter of 2019. The Company will use any remaining overfunded cash surplus balances to fund future company contributions to a replacement defined contribution plan. At December 31, 2018 , the domestic defined benefit pension plans were overfunded, with a projected benefit obligation of $524,675 , fair value of plan assets of $776,961 and excess plan assets of $252,286 . The plans were funded in accordance with all applicable regulations at December 31, 2018 . At December 31, 2017 , the domestic defined benefit pension plan was overfunded, with a projected benefit obligation of $916,175 , fair value of plan assets of $1,188,638 and excess plan assets of $272,463 . At December 31, 2016 , the domestic salaried and hourly defined benefit pension plan 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 Company has thirty-one foreign defined benefit pension plans, twelve of which were acquired through the Acquisition. At December 31, 2018 , twenty-four 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 $168,395 , $199,881 , $119,232 and $80,649 , respectively. The Company expects to make the following benefit payments for all domestic and foreign defined benefit pension plans: $49,259 in 2019 ; $46,809 in 2020 ; $46,469 in 2021 ; $46,104 in 2022 ; $46,532 in 2023 ; and $226,112 in 2024 through 2028 . The Company expects to contribute $5,295 to the foreign plans in 2019 . 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 2019 are $1,033 and $1,397 , 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 2018 2017 2016 2018 2017 2016 Net pension cost (credit): Service cost $ 7,259 $ 21,711 $ 22,291 $ 8,160 $ 7,039 $ 4,225 Interest cost 32,161 31,085 26,498 9,486 8,177 7,441 Expected return on plan assets (53,005 ) (48,275 ) (50,197 ) (10,837 ) (9,070 ) (6,915 ) Amortization of prior service cost 3,530 1,362 1,205 Amortization of actuarial losses 6,210 4,532 1,518 1,833 1,540 Ongoing pension cost (credit) (10,055 ) 12,093 4,329 8,327 7,979 6,291 Settlement cost (credit) 37,648 (1,990 ) (374 ) 71 4,231 Curtailment cost 825 Net pension cost 28,418 10,103 4,329 7,953 8,050 10,522 Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial losses (gains) arising during the year 29,927 (65,829 ) 18,926 (5,107 ) (13,960 ) 17,030 Prior service cost arising during the year 4,577 844 2,081 Amortization of actuarial losses (6,210 ) (4,532 ) (1,518 ) (1,833 ) (1,540 ) Amortization of prior service cost (3,530 ) (1,362 ) (1,205 ) (Loss) gain recognized for settlement (37,648 ) 1,990 374 (71 ) Prior service cost recognized for curtailment (825 ) Loss arising from curtailment (742 ) Exchange rate (loss) gain recognized during the year (1,890 ) 4,133 (11,627 ) Total recognized in Cumulative other comprehensive loss (8,241 ) (70,567 ) 15,270 (8,141 ) (11,731 ) 3,863 Total recognized in net pension cost and Cumulative other comprehensive loss $ 20,177 $ (60,464 ) $ 19,599 $ (188 ) $ (3,681 ) $ 14,385 Service cost is recorded in Cost of goods sold and Selling, general and administrative expense. All other components of Net pension costs are recorded in Other expense (income) - net . See Note 1 for information on the adoption of ASU No. 2017-07. 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 35 – 65 percent equity securities and 35 – 55 percent fixed income securities. The following tables summarize the fair value of the defined benefit pension plan assets at December 31, 2018 , 2017 and 2016 . 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, 2018 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) $ 215,812 $ 123,982 $ 91,830 Fixed income investments (2) 609,926 462,777 147,149 Other assets (3) 38,413 38,413 Total investments in fair value hierarchy 864,151 $ 586,759 $ 277,392 Investments measured at NAV or its equivalent (4) 166,376 Total investments $ 1,030,527 Fair value at December 31, 2017 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) $ 514,983 $ 409,911 $ 105,072 Fixed income investments (2) 380,902 146,816 234,086 Other assets (3) 39,196 39,196 Total investments in fair value hierarchy 935,081 $ 556,727 $ 378,354 Investments measured at NAV or its equivalent (4) 533,561 Total investments $ 1,468,642 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 Total investments $ 1,012,021 (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, 2018 were 300,000 shares of the Company’s common stock with a market value of $118,038 , representing 15.2 percent of total domestic plan assets. Dividends received on the Company’s common stock during 2018 totaled $1,032 . 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 2018 2017 2016 2018 2017 2016 Accumulated benefit obligations at end of year $ 520,958 $ 913,363 $ 630,159 $ 280,046 $ 308,164 $ 172,047 Projected benefit obligations: Balances at beginning of year $ 916,175 $ 632,797 $ 624,791 $ 349,597 $ 206,873 $ 201,854 Service cost 7,259 21,711 22,291 8,160 7,039 4,225 Interest cost 32,161 31,085 26,498 9,486 8,177 7,441 Actuarial (gains) losses (13,552 ) 67,945 8,132 (20,958 ) (4,002 ) 43,736 Acquisition 246,894 115,045 Contributions and other 3,834 844 2,081 1,572 1,397 947 Settlements (379,064 ) (43,381 ) (6,319 ) (758 ) (14,862 ) Effect of foreign exchange (16,226 ) 22,938 (30,360 ) Benefits paid (42,138 ) (41,720 ) (50,996 ) (9,467 ) (7,112 ) (6,108 ) Balances at end of year 524,675 916,175 632,797 315,845 349,597 206,873 Plan assets: Balances at beginning of year 1,188,638 847,013 858,605 280,004 165,008 162,339 Actual returns on plan assets 9,525 182,049 39,404 (4,896 ) 16,282 33,569 Acquisition 244,677 82,314 Contributions and other 8,278 6,048 15,019 Settlements (379,064 ) (43,381 ) (6,319 ) (758 ) (14,862 ) Effect of foreign exchange (14,034 ) 18,222 (24,949 ) Benefits paid (42,138 ) (41,720 ) (50,996 ) (9,467 ) (7,112 ) (6,108 ) Balances at end of year 776,961 1,188,638 847,013 253,566 280,004 165,008 Excess (deficient) plan assets over projected benefit obligations $ 252,286 $ 272,463 $ 214,216 $ (62,279 ) $ (69,593 ) $ (41,865 ) Assets and liabilities recognized in the Consolidated Balance Sheets: Deferred pension assets $ 252,286 $ 272,463 $ 214,216 $ 18,378 $ 24,280 $ 11,313 Other accruals (2,716 ) (2,523 ) (1,522 ) Other long-term liabilities (77,941 ) (91,350 ) (51,656 ) $ 252,286 $ 272,463 $ 214,216 $ (62,279 ) $ (69,593 ) $ (41,865 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (56,335 ) $ (64,799 ) $ (134,847 ) $ (25,732 ) $ (33,873 ) $ (45,604 ) Prior service costs (5,719 ) (5,496 ) (6,015 ) $ (62,054 ) $ (70,295 ) $ (140,862 ) $ (25,732 ) $ (33,873 ) $ (45,604 ) Weighted-average assumptions used to determine projected benefit obligations: Discount rate 3.60 % 3.60 % 4.20 % 3.04 % 2.73 % 3.21 % Rate of compensation increase 3.17 % 3.33 % 3.38 % 3.65 % 3.69 % 4.43 % Weighted-average assumptions used to determine net pension costs: Discount rate 3.60 % 4.15 % 4.40 % 2.73 % 3.88 % 4.20 % Expected long-term rate of return on assets 5.00 % 5.00 % 6.00 % 3.84 % 4.75 % 4.70 % Rate of compensation increase 3.33 % 3.30 % 3.14 % 3.69 % 4.33 % 4.00 % 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 2,987 , 3,486 and 4,524 retired employees entitled to receive such postretirement benefits at December 31, 2018 , 2017 and 2016 , respectively. The following table summarizes the obligation and the assumptions used for postretirement benefits other than pensions: Postretirement Benefits Other than Pensions 2018 2017 2016 Benefit obligation: Balance at beginning of year - unfunded $ 290,823 $ 265,137 $ 263,383 Service cost 1,994 2,105 2,244 Interest cost 10,178 10,749 11,009 Acquisition 17,010 Actuarial (gain) loss (9,047 ) 11,637 7,548 Plan amendments (77 ) Benefits paid (19,237 ) (15,815 ) (19,047 ) Balance at end of year - unfunded $ 274,634 $ 290,823 $ 265,137 Liabilities recognized in the Consolidated Balance Sheets: Postretirement benefits other than pensions $ (257,621 ) $ (274,675 ) $ (250,397 ) Other accruals (17,013 ) (16,148 ) (14,740 ) $ (274,634 ) $ (290,823 ) $ (265,137 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (32,774 ) $ (44,147 ) $ (23,211 ) Prior service credits 6,134 12,625 19,205 $ (26,640 ) $ (31,522 ) $ (4,006 ) Weighted-average assumptions used to determine benefit obligation: Discount rate 4.21 % 3.61 % 4.10 % Health care cost trend rate - pre-65 6.69 % 7.00 % 6.00 % Health care cost trend rate - post-65 4.94 % 5.00 % 5.50 % Prescription drug cost increases 9.75 % 11.00 % 10.50 % Employer Group Waiver Plan (EGWP) trend rate 9.75 % 11.00 % 10.60 % Weighted-average assumptions used to determine net periodic benefit cost: Discount rate 3.61 % 4.10 % 4.30 % Health care cost trend rate - pre-65 7.00 % 6.00 % 6.00 % Health care cost trend rate - post-65 5.00 % 5.50 % 5.00 % Prescription drug cost increases 11.00 % 10.50 % 11.50 % 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 2018 2017 2016 Net periodic benefit cost (credit): Service cost $ 1,994 $ 2,105 $ 2,244 Interest cost 10,178 10,749 11,009 Amortization of actuarial losses 2,326 32 Amortization of prior service credit (6,569 ) (6,579 ) (6,578 ) Net periodic benefit cost 7,929 6,307 6,675 Settlement credit (9,332 ) Net periodic benefit cost (credit) 7,929 (3,025 ) 6,675 Other changes in projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial (gain) loss arising during the year (9,047 ) 11,637 7,548 Prior service credit arising during the year (78 ) Amortization of actuarial losses (2,326 ) (32 ) Settlement cost 9,332 Amortization of prior service credit 6,569 6,579 6,578 Total recognized in Cumulative other comprehensive loss (4,882 ) 27,516 14,126 Total recognized in net periodic benefit cost and Cumulative other comprehensive loss $ 3,047 $ 24,491 $ 20,801 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 2019 are $535 and $(4,997) , 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 2019 both decrease in each successive year until reaching 4.5 percent in 2026 . 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, 2018 : One-Percentage Point Increase (Decrease) Effect on total of service and interest cost components $ 132 $ (132 ) Effect on the postretirement benefit obligation $ 3,602 $ (3,636 ) The Company expects to make retiree health care benefit cash payments as follows: Expected Cash Payments 2019 $ 17,013 2020 18,757 2021 19,391 2022 19,969 2023 19,991 2024 through 2028 98,836 Total expected benefit cash payments $ 193,957

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt Due Date 2018 2017 2016 2.25% Senior Notes (1) 2020 $ 1,496,015 $ 1,493,106 3.45% Senior Notes (1) 2027 1,485,023 1,483,244 2.75% Senior Notes (1) 2022 1,242,850 1,240,758 4.50% Senior Notes (1) 2047 1,229,373 1,228,647 Term Loan 2022 847,337 3.125% Senior Notes (1) 2024 496,287 495,602 4.20% Senior Notes (2) 2022 416,815 422,370 3.45% Senior Notes 2025 397,621 397,260 $ 396,898 4.55% Senior Notes 2045 394,082 393,859 393,637 3.95% Senior Notes (2) 2026 360,822 362,381 7.25% Senior Notes (2) 2019 319,394 4.00% Senior Notes 2042 296,251 296,094 295,938 Floating Rate Loan 2021 257,371 269,247 3.30% Senior Notes (2) 2025 249,304 249,207 4.40% Senior Notes (2) 2045 238,747 238,334 7.375% Debentures 2027 119,029 118,982 118,936 0.92% Fixed Rate Loan 2021 22,877 23,933 7.45% Debentures 2097 3,500 3,500 3,500 2.00% to 8.0% Promissory Notes Through 2027 2,090 2,490 2,417 $ 8,708,057 $ 9,885,745 $ 1,211,326 (1) Senior notes issued in 2017 to fund the Acquisition (2) Senior notes acquired in 2017 through the Acquisition Maturities of long-term debt are as follows for the next five years: $301,149 in 2019 ; $1,500,375 in 2020 ; $281,005 in 2021 , $1,650,268 in 2022 and $272 in 2023 . Interest expense on long-term debt was $343,119 , $257,350 and $75,509 for 2018 , 2017 and 2016 , 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 May 16, 2017, the Company issued $6.0 billion of senior notes (collectively the "New Notes") in a public offering. The net proceeds from the issuance of the New Notes were used to fund the Acquisition. See Note 4 . The interest rate locks entered into in 2016 settled in March 2017 resulting in a pretax gain of $87.6 million recognized in Cumulative other comprehensive loss. This gain is being amortized from Cumulative other comprehensive loss to a reduction of interest expense over the terms of the New Notes. For the year ended December 31, 2018 , the amortization of the unrealized gain reduced interest expense by $8.3 million . On June 2, 2017 the Company closed its previously announced exchange offers and consent solicitations (Exchange Offer) for the outstanding senior notes of Valspar. Pursuant to the Exchange Offer, the Company issued an aggregate principal amount of approximately $1.478 billion (Exchange Notes). The Exchange Notes are unsecured senior obligations of the Company. The Company did not receive any cash proceeds from the issuance of the Exchange Notes. In August 2017, the Company entered into a floating rate loan of €225.0 million and a fixed rate loan of €20.0 million . The floating rate loan agreement bears interest at the six-month Euro Interbank Offered Rate plus a margin. The fixed rate loan bears interest at 0.92% . The proceeds are being used for general corporate purposes. The loans mature on August 23, 2021. In April 2016, the Company entered into agreements for a $7.3 billion Bridge Loan and a $2.0 billion Term Loan as committed financing for the Acquisition. On June 1, 2017, the Company terminated the agreement for the Bridge Loan and borrowed the full $2.0 billion on the Term Loan. During 2018, the Company paid the outstanding balance on the Term Loan and the agreement was terminated. Short-term borrowings. On July 19, 2018, the Company and three of its wholly-owned subsidiaries, Sherwin-Williams Canada, Inc., Sherwin-Williams Luxembourg S.à r.l and Sherwin-Williams UK Holding Limited (all together with the Company, the Borrowers), entered into a new five -year $2.000 billion credit agreement (New Credit Agreement). The New Credit Agreement may be used for general corporate purposes, including the financing of working capital requirements. The New Credit Agreement replaced a credit agreement dated July 16, 2015, as amended, which was terminated. The New Credit Agreement allows the Company to extend the maturity of the facility with two one -year extension options and the Borrowers to increase the aggregate amount of the facility to $2.750 billion , both of which are subject to the discretion of each lender. In addition, the Borrowers may request letters of credit in an amount of up to $250.0 million . At December 31, 2018 , there were no short-term borrowings under the New Credit Agreement. Borrowings outstanding under various other foreign programs were $37.0 million at December 31, 2018 with a weighted average interest rate of 9.3% . In September 2017, the Company entered into a five -year letter of credit agreement, subsequently amended on multiple dates, with an aggregate availability of $625.0 million at December 31, 2018 . On May 6, 2016, the Company entered into a five -year credit agreement, subsequently amended on multiple dates. This credit agreement 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 $875.0 million at December 31, 2018 . Both of these credit agreements are being used for general corporate purposes. At December 31, 2018 , there were no borrowings outstanding under these credit agreements. There were $350.0 million borrowings outstanding at December 31, 2017 and no borrowings outstanding at December 31, 2016 . There were $291.4 million borrowings outstanding under the Company's domestic commercial paper program at December 31, 2018 . There were $274.8 million borrowings outstanding at December 31, 2017 and no borrowings outstanding at December 31, 2016 .

Other Long-Term Liabilities

Other Long-Term Liabilities	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017 and 2016 were accruals for extended environmental-related activities of $322,459 , $179,593 and $163,847 , respectively. Included in Other accruals at December 31, 2018 , 2017 and 2016 were accruals for estimated costs of current investigation and remediation activities of $51,038 , $28,556 and $19,969 , respectively. See Note 14 regarding provisions for environmental matters-net and related increases to the environmental accrued liabilities at December 31, 2018 . 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 $117,518 higher than the minimum accruals at December 31, 2018 . Four 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, 2018 . At December 31, 2018 , $326,202 , or 87.2 percent of the total accrual, related directly to these four sites. In the aggregate unaccrued maximum of $117,518 at December 31, 2018 , $93,191 , or 79.3 percent , related to the four 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, 2018
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. Except with respect to the litigation in California discussed below, the Company has not accrued any amounts for such litigation because the Company does not believe it is probable that a loss has occurred, and the Company believes it is not possible to estimate the range of potential losses as 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 or any such liability is higher than any amount currently accrued for 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; the County of Santa Clara, California, and other public entities in the State of California; and Lehigh and Montgomery Counties in Pennsylvania. Except for the Santa Clara County, California proceeding and the pending Pennsylvania proceedings, all of these legal proceedings have been concluded in favor of the Company and other defendants at various stages in the proceedings. Santa Clara County, California Proceeding . 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, as well as 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. Oral argument before the Sixth District Court of Appeal was held on August 24, 2017. On November 14, 2017, the Sixth District Court of Appeal entered its decision, which affirmed the trial court’s judgment of liability with respect to residences built before 1951 and reversed and vacated the trial court’s judgment with respect to residences built after 1950. The Sixth District Court of Appeal directed the trial court to: (i) recalculate the amount of the abatement fund to limit the fund to the amount necessary to cover the cost of inspecting and remediating pre-1951 residences; and (ii) hold an evidentiary hearing to appoint a suitable receiver. On November 29, 2017, the Company and the two other defendants filed separate Petitions for Rehearing, which the Sixth District Court of Appeal denied on December 6, 2017. The Sixth District Court of Appeal’s decision became final on December 14, 2017. On December 22, 2017, the Company and the two other defendants submitted separate Petitions for Review to the California Supreme Court. On February 14, 2018, the California Supreme Court issued an order denying the Petitions for Review. On April 17, 2018, the parties filed their briefs with the trial court regarding the recalculation of the amount of the abatement fund. The plaintiffs proposed $730.0 million as the amount of the abatement fund, and the Company and the other two defendants jointly proposed a maximum amount of no more than $409.1 million . On August 17, 2018, the trial court held a hearing regarding the recalculation of the amount of the abatement fund. On September 4, 2018, the trial court ruled that the amount of the abatement fund is $409.1 million . On May 17, 2018, NL Industries filed a Motion for Good Faith Settlement, which the Company and ConAgra opposed. The trial court held a hearing on NL Industries’ Motion for Good Faith Settlement on July 12, 2018 and subsequently denied NL Industries' Motion. NL Industries has filed a petition for writ of mandate with the Sixth District Court of Appeal seeking to obtain immediate appellate review and reversal of the denial of its motion. On July 16, 2018, the Company filed a Petition for Writ of Certiorari with the Supreme Court of the United States seeking discretionary review. On October 15, 2018, the Supreme Court of the United States denied the Company's Petition for Writ of Certiorari. The trial court has selected a receiver for the abatement fund, but the terms of an order appointing the receiver have not been determined and will be the subject of a further hearing scheduled for March 7, 2019. The trial court has stayed the entry of judgment pending the decision of the Sixth District Court of Appeal on NL Industries’ petition for writ of mandate, but otherwise has ruled that, within sixty days of entry of judgment, the Company, ConAgra and NL Industries shall pay into the abatement fund all amounts due. Although the Company believes it is probable that a loss has occurred, the ultimate amount of such loss and the timing of any payments remains uncertain and could change in the future due to the numerous possible outcomes and uncertainties, including, but not limited to, (i) the final amount of the abatement fund that will be paid, particularly because participation in the abatement program by eligible homeowners is voluntary and it is uncertain what percentage of eligible homeowners will participate or how claims will be administered, and (ii) the portion of the abatement fund for which the Company, the two other defendants and others are determined to be responsible. However, the Company has accrued $136.3 million for this litigation, which is one-third of the amount of the abatement fund. It is possible that the Company may change the amount accrued for this litigation based on the facts and circumstances. Because of joint and several liability, it is possible the Company could ultimately be liable for the total amount of the abatement fund. In the event any liability is higher than any amount currently accrued for such litigation, the recording of any 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 liability is accrued. Pennsylvania Proceedings . Two proceedings in Pennsylvania were initiated in October 2018. The County of Montgomery, Pennsylvania filed a Complaint against the Company and several other former lead-based paint and lead pigment manufacturers in the Court of Common Pleas of Montgomery County, Pennsylvania. The County of Lehigh, Pennsylvania also filed a Complaint against the Company and several other former lead-based paint and lead pigment manufacturers in the Court of Common Pleas of Lehigh County, Pennsylvania. The Company removed both actions to the United States District Court for the Eastern District of Pennsylvania on November 28, 2018. The plaintiffs filed a motion for remand in each action on January 7, 2019, which the defendants will oppose. In both actions, the counties request declaratory relief establishing the existence of a public nuisance and the defendants’ contribution to it, the abatement of an ongoing public nuisance arising from the presence of lead-based paint in housing throughout the applicable county, an injunction against future illicit conduct, and the costs of litigation and attorneys’ fees. In October 2018, the Company filed a Complaint in the United States District Court for the Eastern District of Pennsylvania against the Pennsylvania Counties of Delaware, Erie and York seeking injunctive and declaratory relief to prevent the violation of the Company’s rights under the First Amendment and Due Process Clause of the U.S. Constitution. The Company voluntarily dismissed defendant Erie County on November 9, 2018 and defendant York County on November 21, 2018. Defendant Delaware County has filed a motion to dismiss the Complaint, which is pending. 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 Wisconsin 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. The United States District Court for the Eastern District of Wisconsin has consolidated three cases (Ravon Owens v. American Cyanamid, et al., Cesar Sifuentes v. American Cyanamid, et al., and Glenn Burton, Jr. v. American Cyanamid, et al.) for purposes of trial and set a trial date for May 6, 2019. The parties are preparing for trial. In Maniya Allen, et al. v. American Cyanamid, et al., also pending in the United States District Court for the Eastern District of Wisconsin, cases involving six of the 146 plaintiffs were selected for discovery. In Dijonae Trammell, et al. v. American Cyanamid, et al., also pending in the United States District Court for the Eastern District of Wisconsin, discovery for one of the three plaintiffs was consolidated with the six Allen cases referenced above. The parties have selected four of the cases to proceed to expert discovery and to prepare for trial. No dates for expert discovery, pretrial dispositive motions, or trial have been set by the District Court in the Allen and Trammell cases. Other lead-based paint and lead pigment litigation. In Mary Lewis v. Lead Industries Association, et al. pending in the Circuit Court of Cook County, Illinois, parents seek to recover the cost of their children’s blood lead testing against the Company and three other defendants that made (or whose alleged corporate predecessors made) white lead pigments. The Circuit Court has certified a statewide class and a Chicago subclass of parents or legal guardians of children who lived in high-risk zip codes identified by the Illinois Department of Health and who were screened for lead toxicity between August 1995 and February 2008. Excluded from the class are those parents or guardians who have incurred no expense, liability or obligation to pay for the cost of their children’s blood lead testing. In 2017, the Company and other defendants moved for summary judgment on the grounds that the three named plaintiffs have not paid and have no obligation or liability to pay for their children’s blood lead testing because Medicaid paid for the children of two plaintiffs and private insurance paid for the third plaintiff without any evidence of a co-pay or deductible. The Circuit Court granted the motion, but on September 7, 2018, the Appellate Court reversed with respect to the two plaintiffs for whom Medicaid paid for their children’s testing. Defendants filed a petition with the Supreme Court of Illinois for discretionary review. By order entered January 31, 2019, that court has allowed defendants’ petition for leave to appeal. Insurance coverage litigation. The Company and its liability insurers, including certain underwriters at Lloyd’s of London, initiated legal proceedings against each other to 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. On January 9, 2019, the Company filed an unopposed motion to lift the stay with the trial court, which was granted, allowing the case to proceed. 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, except with respect to the litigation in California discussed above, 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.

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK At December 31, 2018 , 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 12 . Under the 2006 Equity and Performance Incentive Plan (2006 Employee Plan), 23,700,000 shares may be issued or transferred. See Note 13 . An aggregate of 9,643,433 , 10,715,939 and 7,720,815 shares of common stock at December 31, 2018 , 2017 and 2016 , respectively, were reserved for the exercise and future grants of option rights and future grants of restricted stock and restricted stock units. See Note 13 . Shares outstanding shown in the following table included 489,647 , 489,260 and 488,714 shares of common stock held in a revocable trust at December 31, 2018 , 2017 and 2016 , 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. Shares in Treasury Shares Outstanding Balance at January 1, 2016 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 Shares tendered as payment for option rights exercised 16,545 (16,545 ) Shares issued for exercise of option rights 1,152,015 Shares tendered in connection with grants of restricted stock 82,777 (82,777 ) Net shares canceled of restricted stock (182,079 ) Balance at December 31, 2017 23,676,733 93,883,645 Shares tendered as payment for option rights exercised 1,159 (1,159 ) Shares issued for exercise of option rights 661,599 Shares tendered in connection with grants of restricted stock 52,144 (52,144 ) Net shares issued for grants of restricted stock 149,821 Treasury stock purchased 1,525,000 (1,525,000 ) Balance at December 31, 2018 25,255,036 93,116,762

Stock Purchase Plan

Stock Purchase Plan	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK PURCHASE PLAN	STOCK PURCHASE PLAN As of December 31, 2018 , 39,941 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 $170,326 , $138,731 and $127,697 in 2018 , 2017 and 2016 , respectively. The Company’s matching contributions to the ESOP charged to operations were $104,715 , $90,682 and $85,525 for 2018 , 2017 and 2016 , respectively. At December 31, 2018 , there were 9,353,926 shares of the Company’s common stock being held by the ESOP, representing 10.0 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, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The 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 23,700,000 shares of common stock, plus any shares relating to awards that expire, are forfeited or canceled. The Company issues new shares upon exercise of option rights and vesting of restricted stock units (RSUs). The Employee Plan permits the granting of option rights, appreciation rights, restricted stock, RSUs, performance shares and performance units to eligible employees. At December 31, 2018 , 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, 2018 , no option rights or appreciation rights had been granted under the Nonemployee Director Plan. In connection with the Acquisition (see Note 4 ), the Company assumed certain outstanding RSUs of Valspar granted under the Amended and Restated 2015 Omnibus Equity Plan. Upon close of the Acquisition, the Valspar RSUs were converted into RSUs relating to common stock of the Company. The cost of the Company’s stock-based compensation is recorded in accordance with the Stock Compensation Topic of the ASC. At December 31, 2018 , the Company had total unrecognized stock-based compensation expense of $130,748 that is expected to be recognized over a weighted-average period of 1.06 years. Stock-based compensation expense during 2018 , 2017 and 2016 was $82,588 , $90,292 and $72,109 , respectively. The related tax benefit was $20,461 , $34,343 and $27,442 during 2018 , 2017 and 2016 , respectively. Subsequent to the adoption of ASU No. 2016-09 in 2016, excess tax benefits from share-based payments are recognized in the income tax provision rather than in other capital when exercised. For the years ended December 31, 2018 , 2017 and 2016, the Company's tax benefit from options exercised reduced the income tax provision by $43,371 , $86,540 , and $44,233 respectively. 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: 2018 2017 2016 Risk-free interest rate 2.99 % 1.97 % 1.24 % Expected life of option rights 5.05 years 5.05 years 5.05 years Expected dividend yield of stock .89 % .85 % 1.06 % Expected volatility of stock .211 .213 .212 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 2018 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 $61,050 at December 31, 2018 . 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 1.10 years. The weighted-average per share grant date fair value of options granted during 2018 , 2017 and 2016 was $90.86 , $77.14 and $49.36 , respectively. The total intrinsic value of option rights exercised during 2018 , 2017 , and 2016 was $190,227 , $255,482 and $129,230 , respectively. The total fair value of options vested during 2018 , 2017 and 2016 was $38,580 , $31,292 and $32,476 , respectively. There were no outstanding option rights for nonemployee directors at December 31, 2018 , 2017 and 2016 . A summary of the Company’s non-qualified and incentive stock option right activity is shown in the following table: 2018 2017 2016 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 4,646,313 $ 204.33 5,163,709 $ 163.61 5,219,506 $ 141.58 Granted 565,336 410.00 689,506 377.84 712,967 271.46 Exercised (662,218 ) 137.03 (1,154,698 ) 123.16 (733,876 ) 108.81 Forfeited (60,288 ) 327.08 (49,977 ) 267.02 (26,653 ) 232.83 Expired (3,894 ) 238.26 (2,227 ) 236.97 (8,235 ) 176.28 Outstanding end of year 4,485,249 $ 238.53 $ 704,160 4,646,313 $ 204.33 $ 955,810 5,163,709 $ 163.61 $ 545,531 Exercisable at end of year 3,274,780 $ 188.48 $ 671,269 3,288,237 $ 156.43 $ 833,938 3,783,755 $ 130.59 $ 522,921 The weighted-average remaining term for options outstanding at the end of 2018 , 2017 and 2016 was 6.09 , 6.28 and 6.25 years, respectively. The weighted-average remaining term for options exercisable at the end of 2018 , 2017 and 2016 was 5.01 , 5.11 and 5.20 years, respectively. Shares reserved for future grants of option rights, restricted stock and RSUs were 5,135,822 , 6,041,092 and 2,557,106 at December 31, 2018 , 2017 and 2016 , respectively. RSUs. Grants of 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 2018, 2017 and 2016 grants 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 grant 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 generally vest at the end of a three -year period based on continuous employment. Unrecognized compensation expense with respect to grants of RSUs to eligible employees amounted to $68,103 at December 31, 2018 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 0.91 years. Grants of RSUs have been awarded to nonemployee directors under the Nonemployee Director Plan. These grants generally vest and stock is received without restriction to the extent of one-third of the RSUs for each year following the date of grant. Unrecognized compensation expense with respect to grants of RSUs to nonemployee directors amounted to $1,595 at December 31, 2018 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 0.88 years. A summary of the Company’s RSU activity for the years ended December 31 is shown in the following table: 2018 2017 2016 Outstanding at beginning of year 335,796 397,326 467,744 Granted 116,636 112,647 99,662 Exchanged Valspar awards (net of forfeitures) 51,009 Vested (150,576 ) (215,433 ) (166,405 ) Forfeited (11,454 ) (9,753 ) (3,675 ) Outstanding at end of year 290,402 335,796 397,326 The weighted-average per share fair value of RSUs granted during 2018 , 2017 and 2016 was $404.08 , $313.88 and $257.99 , respectively.

Other

Other	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
OTHER	OTHER Other general expense - net . Included in Other general expense - net were the following: 2018 2017 2016 Provisions for environmental matters - net $ 176,297 $ 15,443 $ 42,932 Loss (gain) on sale or disposition of assets 12,825 5,422 (30,564 ) Total $ 189,122 $ 20,865 $ 12,368 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. During 2018 , the Company reached a series of agreements on remediation plans at one of the Company's four major sites, resulting in a significant increase to provisions for environmental matters–net for 2018 . See Note 9 for further details on the Company’s environmental-related activities. The loss (gain) on sale or disposition of assets represents the net realized loss (gain) 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 expense (income) - net . Included in Other expense (income) - net were the following: 2018 2017 2016 Dividend and royalty income $ (4,276 ) $ (7,648 ) $ (4,573 ) Net expense from financing activities 9,658 9,843 8,667 Foreign currency transaction related losses 7,532 450 7,335 Domestic pension plan settlement expense 37,648 Miscellaneous pension income (10,761 ) (15,728 ) (7,236 ) Other income (32,219 ) (32,570 ) (25,279 ) Other expense 12,535 12,951 9,263 Total $ 20,117 $ (32,702 ) $ (11,823 ) 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, 2018 , 2017 and 2016 . See Note 7 for information on the Domestic pension plan settlement expense and Miscellaneous pension income. See Note 1 for information on the adoption of ASU No. 2017-07. Other income and Other expense included items of revenue, gains, expenses and losses that were unrelated to the primary business purpose of the Company. There were no items within Other income or Other expense that were individually significant at December 31, 2018 , 2017 and 2016 .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On December 22, 2017, the Tax Cuts and Jobs Act (Tax Act) was enacted. The Tax Act significantly revised the U.S. corporate income tax system by, among other things, lowering corporate income tax rates from 35% to 21% , implementing a territorial tax system and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. Staff Accounting Bulletin (SAB) No. 118 provided a measurement period that should not extend beyond one year from the enactment date for companies to complete the accounting under the Tax Act. In accordance with SAB No. 118, based on the information available as of December 31, 2017 the Company recorded a provisional reduction of income taxes of $607,919 as a result of the Tax Act. The Company’s deferred tax liabilities were reduced by $560,198 due to the lower income tax rate. The remaining $47,721 is the effects of the implementation of the territorial tax system and the remeasurement of U.S. deferred tax liabilities on unremitted foreign earnings. As a result of the Inventory Accounting Change (see Note 1), Cost of goods sold was increased for the year ended December 31, 2017 while income tax provision was reduced by $14,595 , including a reversal of $7,853 income tax benefit related to the remeasurement of U.S. deferred tax liabilities in 2017 for the Tax Act. Related amounts in this Income Tax Note have been revised due to the impact of the Inventory Accounting Change for the year ended December 31, 2017. During the second quarter of 2018, the Company made purchase accounting adjustments related to the Acquisition which resulted in the reversal of $27,455 of income tax benefits related to the remeasurement of U.S. deferred tax liabilities. No other material adjustments were made under SAB No. 118 for the 2018 tax year. The Company completed its analysis of the Tax Act in the fourth quarter of 2018 and the accounting under the Tax Act has been finalized. 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, 2018 , 2017 and 2016 were as follows: 2018 2017 2016 Deferred tax assets: Exit costs, environ-mental and other similar items $ 84,517 $ 50,193 $ 74,535 Employee related and benefit items 96,963 104,098 166,313 Other items 161,578 113,184 148,910 Total deferred tax assets 343,058 267,475 389,758 Deferred tax liabilities: Depreciation and amortization 1,303,620 1,506,650 254,430 LIFO inventories 64,502 66,580 83,659 Other items 29,464 49,670 59,746 Total deferred tax liabilities 1,397,586 1,622,900 397,835 Net deferred tax liabilities $ 1,054,528 $ 1,355,425 $ 8,077 As of December 31, 2018 , the Company’s net deferred income tax liability relates primarily to deferred tax liabilities recorded for intangible assets acquired through the Acquisition. Netted against the Company’s other deferred tax assets were valuation allowances of $73,543 , $44,101 and $17,292 at December 31, 2018 , 2017 and 2016 , respectively. The increase in the valuation allowance in 2018 is primarily due to net operating losses of certain foreign subsidiaries, as well as foreign tax credit carryforwards due to uncertainty of their realization. The Company has $23,210 of domestic net operating loss carryforwards acquired through acquisitions that have expiration dates through the tax year 2037, foreign tax credits of $18,781 that expire in calendar years 2027 through 2028 and foreign net operating losses of $340,007 . 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 2018 to 2038. Significant components of the provisions for income taxes were as follows: 2018 2017 2016 Current: Federal $ 288,755 $ 269,330 $ 438,244 Foreign 53,155 53,442 31,125 State and local 52,372 39,320 61,402 Total current 394,282 362,092 530,771 Deferred: Federal (102,149 ) (486,669 ) (56,891 ) Foreign (35,276 ) (42,292 ) (2,121 ) State and local (5,953 ) (91,769 ) (9,229 ) Total deferred (143,378 ) (620,730 ) (68,241 ) Total provisions (credits) for income taxes $ 250,904 $ (258,638 ) $ 462,530 Under provisions of the Tax Act, the Company received an income tax benefit in 2018 of $8,590 related to foreign derived intangible income and incurred a $5,515 income tax expense related to Global Intangible Low Taxed Income (GILTI). The Company has made an accounting policy election to record GILTI as a period cost. Significant components of income before income taxes as used for income tax purposes, were as follows: 2018 2017 2016 Domestic $ 1,309,279 $ 1,415,572 $ 1,504,990 Foreign 50,371 53,738 90,243 $ 1,359,650 $ 1,469,310 $ 1,595,233 A reconciliation of the statutory federal income tax rate to the effective tax rate follows: 2018 2017 2016 Statutory federal income tax rate 21.0 % 35.0 % 35.0 % Effect of: State and local income taxes 3.2 2.1 2.3 Investment vehicles (1.2 ) (1.4 ) (1.5 ) Domestic production activities (3.1 ) (2.9 ) Employee share-based payments (3.2 ) (5.9 ) (2.8 ) Research and development credits (1.3 ) (.9 ) (.2 ) Amended returns and refunds (1.6 ) (.9 ) Other - net (.3 ) (.4 ) (.9 ) Subtotal 16.6 % 24.5 % 29.0 % Effect of: Tax Act 1.9 (40.8 ) Subsidiary mergers (4.2 ) Reported effective tax rate 18.5 % (20.5 )% 29.0 % Excluding the tax benefit recorded in the 2017 tax year for the enactment of the Tax Act, the 2018 effective tax rate was significantly lower than the 2017 effective tax rate. The decrease in the effective tax rate was primarily due to the overall impact of the Tax Act in 2018 and the favorable tax benefits from the reduction in the corporate domestic income tax rate from 35% to 21% . The Company received tax benefits in 2018 from filing amended U.S. income tax returns and favorable adjustments to the 2017 U.S. income tax return filed in 2018. Due to the reduction in the federal benefit related to the deduction of state and local income taxes, the impact of state and local income taxes increased in 2018 compared to 2017. The tax benefit related to employee share based payments decreased in 2018 compared to 2017 due to a decrease in the excess tax benefit related to Company stock options exercised by current and former employees of the Company and a reduction in the benefit of the deduction for U.S. income tax purposes from 35% to 21% . The Tax Act eliminated the favorable deduction for domestic production activities. 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 the Company’s 2014 and 2015 income tax returns. There has been no significant adjustments proposed by the IRS at this point in the audits. The IRS and the Joint Committee of Taxation have approved refund claims for the 2010, 2011 and 2012 tax years. The Company will receive approximately $5,000 of tax and interest related to the refund claims. In addition, the IRS concluded the refund claim audit for the 2014 tax year of the Company’s Valspar subsidiary and has approved refunds of $5,426 and submitted them to the Joint Committee of Taxation for approval. As of December 31, 2018 , the federal statute of limitations has not expired for the 2013, 2014, 2015, 2016 and 2017 tax years. As of December 31, 2018 , the Company is subject to non-U.S. income tax examinations for the tax years of 2013 through 2017 . In addition, the Company is subject to state and local income tax examinations for the tax years 1998 through 2018 . A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2018 2017 2016 Balance at beginning of year $ 59,001 $ 32,805 $ 33,873 Additions from the Acquisition 12,396 18,928 Additions based on tax positions related to the current year 12,890 6,780 5,674 Additions for tax positions of prior years 10,968 4,033 3,890 Reductions for tax positions of prior years (1,993 ) (1,168 ) (5,901 ) Settlements (1,380 ) (368 ) (3,763 ) Lapses of statutes of limitations (2,393 ) (2,009 ) (968 ) Balance at end of year $ 89,489 $ 59,001 $ 32,805 An additional $12,396 in unrecognized tax benefits were recorded in 2018 related to the Acquisition. Other increases in the balance of unrecognized tax benefits at December 31, 2018 were related to a number of positions taken on current and amended income tax returns filed in the U.S. federal, and various state and foreign jurisdictions. At December 31, 2018 , 2017 and 2016 , the Company had unrecognized tax benefits of $82,960 , $49,520 , $27,686 , respectively, the recognition of which would have an effect on the effective tax rate. Included in the balance of unrecognized tax benefits at December 31, 2018 is $14,509 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 year ended December 31, 2018 , there was an increase in income tax interest and penalties of $4,899 . There was a decrease in income tax interest and penalties of $790 and an increase of $1,410 for the years ended December 31, 2017 and 2016 , respectively. At December 31, 2018 , 2017 and 2016 , the Company has separately accrued $24,757 , $14,592 and $9,275 , respectively, for the potential payment of interest and penalties.

Net Income Per Common Share

Net Income Per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
NET INCOME PER COMMON SHARE	NET INCOME PER SHARE 2018 2017 2016 Basic Average shares outstanding 92,992,457 92,908,638 91,838,603 Net income Continuing operations (1) $ 1,108,746 $ 1,769,488 $ 1,132,703 Discontinued operations (41,540 ) Net income (1) $ 1,108,746 $ 1,727,948 $ 1,132,703 Basic net income per share Continuing operations (1) $ 11.92 $ 19.04 $ 12.33 Discontinued operations (.44 ) Net income per share (1) $ 11.92 $ 18.60 $ 12.33 Diluted Average shares outstanding 92,992,457 92,908,638 91,838,603 Stock options and other contingently issuable shares (2) 1,938,586 1,931,157 2,089,921 Non-vested restricted stock grants 57,027 87,418 559,562 Average shares outstanding assuming dilution 94,988,070 94,927,213 94,488,086 Net income Continuing operations (1) $ 1,108,746 $ 1,769,488 $ 1,132,703 Discontinued operations (41,540 ) Net income (1) $ 1,108,746 $ 1,727,948 $ 1,132,703 Diluted net income per share Continuing operations (1) $ 11.67 $ 18.64 $ 11.99 Discontinued operations (.44 ) Net income per share (1) $ 11.67 $ 18.20 $ 11.99 (1) The year ended December 31, 2017 has been adjusted for an inventory accounting change. See Note 1. (2) Stock options and other contingently issuable shares excludes 28,321 , 638,795 and 62,935 shares at December 31, 2018 , 2017 and 2016 , respectively, due to their anti-dilutive effect. Basic and diluted net income per share are calculated using the treasury stock method.

Summary of Quarterly Results of

Summary of Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Data [Abstract]
SUMMARY OF QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	SUMMARY OF QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) 2018 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 3,965,006 $ 4,773,796 $ 4,731,470 $ 4,064,221 $ 17,534,493 Gross profit 1,686,847 2,038,628 2,010,404 1,682,683 7,418,562 Net income 250,127 403,604 354,027 100,988 1,108,746 Net income per share - basic 2.68 4.34 3.80 1.09 11.92 Net income per share - diluted 2.62 4.25 3.72 1.07 11.67 2017 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 2,761,387 $ 3,735,817 $ 4,507,020 $ 3,979,564 $ 14,983,788 Gross profit 1,343,053 1,734,617 1,901,827 1,739,303 6,718,800 Net income 239,152 319,111 316,606 853,079 1,727,948 Net income per share - basic 2.58 3.44 3.40 9.14 18.60 Net income per share - diluted 2.53 3.36 3.33 8.92 18.20 Net income for the fourth quarter of 2018 included increased provisions for environmental matters of $135,904 related to one of the Company's four major sites and pension plan settlement expense of $37,648 resulting from the election of lump sum cash payouts to defined benefit plan participants. See Note 14 for information on the provision for environmental matters and Note 7 for information on the pension plan settlement expense. Net income in the fourth quarter of 2017 included a tax benefit of $668,779 related to Deferred income tax reductions. The effect of retrospectively applying the Inventory Accounting Change (see Note 1) was recorded in the fourth quarter of 2017. The impact of the change was not material to any other period presented. Therefore the results for the second and third quarter of 2017 and the first, second and third quarter of 2018 have not been retrospectively adjusted.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2018
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 $552,658 , $464,616 and $417,549 for 2018 , 2017 and 2016 , 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 $68,180 , $63,300 and $58,865 in 2018 , 2017 and 2016 , 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, 2018 : 2019 $ 412,211 2020 369,570 2021 306,994 2022 245,437 2023 179,892 Later years 392,423 Total minimum lease payments $ 1,906,527 During 2018, the Company completed transactions to sell and subsequently leaseback certain real estate properties and received proceeds totaling $225,345 . The transactions were accounted for as financing transactions primarily due to the Company's continuing involvement resulting from the length of the lease term in comparison to the remaining economic life of the real estate properties. The financing transactions have related future obligations of $225,914 at December 31, 2018 .

Reportable Segment Information

Reportable Segment Information	12 Months Ended
	Dec. 31, 2018
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 three reportable operating segments: The Americas Group, Consumer Brands Group and Performance Coatings Group (individually, a Reportable Segment and collectively, the Reportable Segments). Factors considered in determining the three 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 15 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 segment profit or loss 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 Americas Group consisted of 4,696 company-operated specialty paint stores in the United States, Canada, Latin America and the Caribbean region at December 31, 2018 . Each store in this segment is engaged in servicing the needs of architectural and industrial paint contractors and do-it-yourself homeowners. The Americas Group company-owned stores market and sell Sherwin-Williams ® and other controlled brand architectural paint and coatings, protective and marine products, OEM product finishes and related products. The majority of these products are produced by manufacturing facilities in the Consumer Brands Group. In addition, each store sells select purchased associated products. The Americas Group sells a variety of architectural paints, coatings and related products through dedicated dealers, home centers, distributors, hardware stores and other retailers throughout Latin America. The Americas Group meets regional customer demands through developing, licensing, manufacturing, distributing and selling a variety of architectural paints, coatings and related products in North and South America. The loss of any single customer would not have a material adverse effect on the business of this segment. At December 31, 2018 , The Americas Group consisted of operations from subsidiaries in 10 foreign countries. During 2018 , this segment opened 76 net new stores, consisting of 91 new stores opened ( 74 in the United States, 16 in Canada, and 1 in South America) and 15 stores closed ( 1 in the United States, 2 in Canada, 11 in South America and 1 in Mexico). In 2017 and 2016 , this segment opened 101 and 142 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 Americas Group, supplemented with information by geographic region, product type and customer type, to assess performance of and allocate resources to The Americas Group as a whole. In accordance with ASC 280-10-50-9, The Americas 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 Brands Group supplies a broad portfolio of branded and private-label architectural paints, stains, varnishes, industrial products, wood finishes products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks and adhesives to retailers and distributors throughout North America, as well as in Australia, New Zealand, China and Europe. The Consumer Brands Group also supports the Company's other businesses around the world with new product research and development, manufacturing, distribution and logistics. Approximately 55.82% of the total sales of the Consumer Brands Group in 2018 were intersegment transfers of products primarily sold through The Americas Group. At December 31, 2018 , the Consumer Brands Group consisted of operations in the United States and subsidiaries in 6 foreign countries. 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 Brands 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 Brands Group, supplemented with information by product type and customer type, to assess performance of and allocate resources to the Consumer Brands Group as a whole. In accordance with ASC 280-10-50-9, the Consumer Brands 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 Performance Coatings Group develops and sells industrial coatings for wood finishing and general industrial (metal and plastic) applications, automotive refinish, protective and marine coatings, coil coatings, packaging coatings and performance-based resins and colorants worldwide. This segment licenses certain technology and trade names worldwide. Sherwin-Williams ® and other controlled brand products are distributed through The Americas Group and this segment’s 282 company-operated branches and by a direct sales staff and outside sales representatives to retailers, dealers, jobbers, licensees and other third-party distributors. The Performance Coatings 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. During 2018 , this segment opened 3 new branches and closed 11 branches for a net decrease of 8 branches. At December 31, 2018 , the Performance Coatings Group consisted of operations in the United States and subsidiaries in 45 foreign countries. The CODM uses discrete financial information about the Performance Coatings Group reportable segment, supplemented with information about geographic divisions, business units and subsidiaries, to assess performance of and allocate resources to the Performance Coatings Group as a whole. In accordance with ASC 280-10-50-9, the Performance 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 branches and their geographic locations. The Administrative segment includes the administrative expenses of the Company’s corporate headquarters site. Also included in the Administrative segment is interest expense, interest and investment income, certain expenses related to closed facilities and environmental-related matters, and other expenses which are not directly associated with the Reportable Segments. The Administrative segment does not include any significant foreign operations. Also included in the Administrative segment is 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 represents 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 $4,027,775 , $2,959,785 and $1,722,246 for 2018 , 2017 and 2016 , respectively. 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 $14,789,793 , $15,492,586 and, $3,125,222 at December 31, 2018 , 2017 and 2016 , respectively. Long-lived assets of consolidated foreign subsidiaries totaled $3,289,794 , $3,691,035 and $477,889 at December 31, 2018 , 2017 and 2016 , respectively. Total Assets of the Company were $19,134,279 , $19,899,517 and $6,752,521 at December 31, 2018 , 2017 and 2016 , respectively. Total assets of consolidated foreign subsidiaries were $4,809,356 , $5,253,995 and $1,233,666 , which represented 25.1 percent , 26.4 percent and 18.3 percent of the Company’s total assets at December 31, 2018 , 2017 and 2016 , respectively. No single geographic area outside the United States was significant relative to consolidated net external sales or consolidated long-lived assets. 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. Certain amounts in the following table for 2017 have been adjusted to reflect the Inventory Accounting Change (see Note 1). (millions of dollars) 2018 The Americas Group Consumer Brands Group Performance Coatings Group Administrative Consolidated Totals Net external sales $ 9,625 $ 2,739 $ 5,166 $ 4 $ 17,534 Intersegment transfers 1 3,460 22 (3,483 ) Total net sales and intersegment transfers $ 9,626 $ 6,199 $ 5,188 $ (3,479 ) $ 17,534 Segment profit $ 1,898 $ 261 $ 452 $ 2,611 Interest expense $ (367 ) (367 ) Administrative expenses and other (884 ) (884 ) Income from continuing operations before income taxes $ 1,898 $ 261 $ 452 $ (1,251 ) $ 1,360 Reportable segment margins 19.7 % 4.2 % 8.7 % Identifiable assets $ 4,071 $ 5,385 $ 8,535 $ 1,143 $ 19,134 Capital expenditures 70 96 61 24 251 Depreciation 72 89 78 39 278 Amortization 5 97 211 5 318 2017 The Americas Group Consumer Brands Group Performance Coatings Group Administrative Consolidated Totals Net external sales $ 9,117 $ 2,155 $ 3,706 $ 6 $ 14,984 Intersegment transfers 6 3,162 22 (3,190 ) Total net sales and intersegment transfers $ 9,123 $ 5,317 $ 3,728 $ (3,184 ) $ 14,984 Segment profit $ 1,769 $ 203 $ 263 $ 2,235 Interest expense $ (263 ) (263 ) Administrative expenses and other (503 ) (503 ) Income from continuing operations before income taxes $ 1,769 $ 203 $ 263 $ (766 ) $ 1,469 Reportable segment margins 19.4 % 3.8 % 7.1 % Identifiable assets $ 4,359 $ 5,816 $ 8,265 $ 1,460 $ 19,900 Capital expenditures 69 95 37 22 223 Depreciation 75 92 69 49 285 Amortization 4 61 135 7 207 2016 The Americas Group Consumer Brands Group Performance Coatings Group Administrative Consolidated Totals Net external sales $ 8,377 $ 1,528 $ 1,946 $ 5 $ 11,856 Intersegment transfers 39 2,775 15 (2,829 ) Total net sales and intersegment transfers $ 8,416 $ 4,303 $ 1,961 $ (2,824 ) $ 11,856 Segment profit $ 1,606 $ 301 $ 257 $ 2,164 Interest expense $ (154 ) (154 ) Administrative expenses and other (415 ) (415 ) Income from continuing operations before income taxes $ 1,606 $ 301 $ 257 $ (569 ) $ 1,595 Reportable segment margins 19.1 % 7.0 % 13.1 % Identifiable assets $ 2,148 $ 2,005 $ 818 $ 1,782 $ 6,753 Capital expenditures 100 99 19 21 239 Depreciation 76 47 20 29 172 Amortization 4 5 9 7 25

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts and Reserves (Schedule II)	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, 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) 2018 2017 2016 Beginning balance $ 52,997 $ 40,450 $ 49,420 Bad debt expense 38,240 42,716 29,869 Uncollectible accounts written off, net of recoveries (45,354 ) (30,169 ) (38,839 ) Ending balance $ 45,883 $ 52,997 $ 40,450 Changes in deferred tax asset valuation allowances were as follows: (thousands of dollars) 2018 2017 2016 Beginning balance $ 44,101 $ 17,292 $ 12,595 Additions (deductions) (1) 10,660 (489 ) 4,697 Acquired balances 18,782 27,298 — Ending balance $ 73,543 $ 44,101 $ 17,292 (1) Additions (deductions) did not have a material impact on the Income Statement in 2018 , 2017 or 2016 .

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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, Asia and Australia.
Cash flows 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 fair market value.
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.
Derivative instruments	Derivative instruments: The Company utilizes derivative instruments as part of its overall financial risk management policy. The Company entered into foreign currency forward contracts with maturity dates of less than twelve months in 2018 , 2017 , and 2016 , primarily to hedge against value changes in foreign currency. See Note 14 . There were no material foreign currency option and forward contracts outstanding at December 31, 2018 , 2017 and 2016 . In 2016, the Company entered into a series of interest rate lock agreements which were designated as cash flow hedges. The interest rate locks settled during 2017.
Fair value measurements	Fair value measurements. The following table summarizes the Company’s assets and liabilities measured on a recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC: 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 assets (1) $ 52,460 $ 27,019 $ 25,441 Liabilities: Deferred compensation plan liabilities (2) $ 62,599 $ 62,599 Except for the acquisition-related fair value measurements described in Note 4 , there were no assets and liabilities measured at fair value on a nonrecurring basis. The acquisition-related fair value measurements qualified as level 3 measurements.
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 $45,883 , $52,997 and $40,450 at December 31, 2018 , 2017 and 2016 , 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. Accounts 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.
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.
Intangible assets	Intangible assets. Intangible assets include indefinite-lived trademarks, customer relationships and intellectual property. 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 5 . The costs of finite-lived intangible assets are amortized on a straight-line basis over the expected period of benefit, which ranges primarily from 15 to 20 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.
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 6.7% – 33.3% 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 assurance type 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.
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.
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.
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.
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.
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.
Revenue recognition, third-party service revenue, and 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 expenses related to the distribution of products including inbound freight charges, purchase and receiving costs, warehousing costs, internal transfer costs and other 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. Revenue recognition. The Company recognized revenue when products were shipped and title passed to unaffiliated customers. Collectibility of amounts recorded as revenue was probable at the time of recognition. See Note 2. The difference between the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. Provisions for estimated returns are established and the expected costs continue to be recognized as contra-revenue per ASC 606 when the products are sold. The Company only offers an assurance type warranty on products sold, and there is no material service to the customer beyond fixing defects that existed at the time of sale and no warranties are sold separately. Warranty liabilities are excluded from the table above and discussed in Note 1 . Amounts recognized during the year from deferred liabilities to Revenue were not material. The Company records a right of return liability within each of its operations to accrue for expected customer returns. Historical actual returns are used to estimate future returns as a percentage of current sales. Obligations for returns and refunds were not material individually or in The Company manufactures and sells paint, stains, supplies, equipment and floor covering through company-operated stores, branded and private label products through retailers, and a broad range of industrial coatings directly to global manufacturing customers through company-operated branches. A large portion of the Company’s revenue is recognized at a point in time and made to customers who are not engaged in a long-term supply agreement or any form of contract with the Company. These sales are paid for at the time of sale in cash, credit card, or may be on account with the vast majority of customers having terms between 30 and 60 days, not to exceed one year. Many customers who purchase on account take advantage of early payment discounts offered by paying within 30 days of being invoiced. The Company estimates variable consideration for these sales on the basis of both historical information and current trends to estimate the expected amount of discounts to which customers are likely to be entitled. The remaining revenue is governed by long-term supply agreements and related purchase orders (“contracts”) that specify shipping terms and aspects of the transaction price including rebates, discounts and other sales incentives, such as advertising support. Contracts are at standalone pricing. The performance obligation in these contracts is determined by each of the individual purchase orders and the respective stated quantities, with revenue being recognized at a point in time when obligations under the terms of the agreement are satisfied. This generally occurs with the transfer of control of our products to the customer. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Refer to Note 19 for the Company's disaggregation of Net sales by reportable segment. As the reportable segments are aligned by similar economic factors, trends and customers, this disaggregation best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company has made payments or credits for rebates or incentives at the beginning of a long-term contract where future revenue is expected and before satisfaction of performance obligations. Under these circumstances, the Company recognizes a contract asset and amortizes these prepayments over the expected benefit life of the long-term contract typically on a straight-line basis. Management judgment is required when estimating sales-based variable consideration, determining whether it is constrained, measuring obligations for returns, refunds, and determining amortization periods for prepayments. The majority of variable consideration in the Company’s contracts include a form of volume rebate, discounts, and other incentives, where the customer receives a retrospective percentage rebate based on the amount of their purchases. In these situations, the rebates are accrued as a fixed percentage of sales and recorded as a reduction of net sales until paid to the customer per the terms of the supply agreement. Forms of variable consideration such as tiered rebates, whereby a customer receives a retrospective price decrease dependent on the volume of their purchases, are calculated using a forecasted percentage to determine the most likely amount to accrue. Management creates a baseline calculation using historical sales and then utilizing forecast information, estimates the anticipated sales volume each quarter to calculate the expected reduction to sales. The remainder of the transaction price is fixed as agreed upon with the customer, limiting estimation of revenues including constraints.
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 $357,843 , $374,059 and $351,002 in advertising costs during 2018 , 2017 and 2016 , 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 11 ) was not included in outstanding shares for basic or diluted income per share calculations. All references to “shares” or “per share” information throughout this report relate to shares and are stated on a diluted per share basis, unless otherwise indicated. Basic and diluted net income per share were calculated using the treasury stock method in accordance with the Earnings Per Common Share Topic of the ASC. Basic net income per share amounts were computed based on the weighted-average number of shares outstanding during the year. Diluted net income per share amounts were computed based on the weighted-average number of shares outstanding plus all dilutive securities potentially outstanding during the year.
Impact of recently issued accounting standards	Impact of recently issued accounting standards. Effective January 1, 2018, the Company adopted ASU No. 2014-09, "Revenue from Contracts with Customers," and all the related amendments (ASC 606). ASC 606 consists of a comprehensive revenue recognition standard, which requires the recognition of revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled. The Company adopted the standard using the modified retrospective method and applied it to all contracts. Under the modified retrospective method, the comparative periods are not restated. The only significant change that resulted from the new revenue standard was that certain advertising support of $103,108 that was previously classified as Selling, general and administrative expenses is now classified as a reduction of revenue. This reclassification had no effect on Net income, and therefore, there was no adjustment to the opening balance of retained earnings. The Company does not expect the adoption of the new revenue standard to have a material impact on its Net income on an ongoing basis. See Note 2 for additional information. Effective January 1, 2018, the Company adopted ASU No. 2017-07, "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Costs." The standard requires the service component of pension and other postretirement benefit expense to be presented in the same income statement lines as other employee compensation costs, and the other components to be presented outside of operating income. The guidance on the presentation of components of pension and other postretirement benefit expense was adopted retrospectively, as required, and the practical expedient allowing estimates for comparative periods using the information previously disclosed in the pension and other postretirement benefit plan note was elected. As a result of this ASU, 2018 pension and other postretirement benefit plan expense of $3,483 , $13,930 and $26,888 was recorded in Cost of goods sold, SG&A and Other expense (income) - net, respectively. The reclassifications in the 2017 and 2016 financial statements are summarized in the Adjustments and Reclassifications section at the end of this note. Effective January 1, 2018, the Company adopted 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. As a result of this standard, changes in fair value of available-for-sale marketable securities that were previously recognized in other comprehensive income are now recognized in earnings. In addition, in accordance with the guidance, the Company reclassified its opening unrealized gains balance of $2,320 to Retained earnings. The adoption of this standard did not have a significant impact 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 (ASC 842). Under the new standard, right-of-use assets and lease liabilities arising from most leases will be recognized on the balance sheet and enhanced disclosures on key quantitative and qualitative information about leasing arrangements will be required. 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 separately amortizing the right-of-use asset and applying an effective interest method on the lease liability (financing leases). The new standard is effective for interim and annual periods starting in 2019, and the Company will apply the transitional package of practical expedients allowed by the standard to not reassess the identification, classification and initial direct costs of leases commencing before the effective date of Topic 842. The Company also will apply the practical expedient to not separate lease and non-lease components to new leases as well as existing leases through transition, and will make an accounting policy election to not apply recognition requirements of the guidance to short-term leases. The Company does not expect to elect the hindsight transitional practical expedient to determine lease term on existing leases. In July 2018, the FASB issued ASU No. 2018-11, "Leases: Targeted Improvements," which provides an optional transition method that allows entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption while comparative periods presented will continue to be in accordance with ASC Topic 840. The Company will use the optional transition method and apply the lease standard as of January 1, 2019 and does not anticipate a material cumulative-effect adjustment to the opening balance of retained earnings. The Company is nearing completion of its assessment process and its determination of the expanded disclosure regarding leases, as well as the impact to the consolidated financial statements. This final assessment includes contract analysis and updating accounting policies and related processes and controls. The Company has made enhancements to its financial information systems and internal controls in response to the new rule requirements including the implementation of a lease tracking software for managing and reporting information related to leases. Upon adoption, the Company is prepared to provide expanded disclosures in the consolidated financial statements and it expects to recognize assets and liabilities of between approximately $1.6 billion and $1.8 billion .
Reclassification	Reclassifications. Certain amounts in the notes to the consolidated financial statements for 2016 and 2017 have been adjusted and reclassified to conform to the 2018 presentation.
Inventories	Inventories were principally stated at the lower of cost or market with cost determined on the last-in, first-out (LIFO) method. The following presents the effect on inventories, net income and net income per share had the Company used the first-in, first-out (FIFO) inventory valuation method adjusted for income taxes at the statutory rate in effect at each reporting date 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 Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
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 8 . December 31, 2018 2017 2016 Carrying Fair Carrying Fair Carrying Fair Amount Value Amount Value Amount Value Publicly traded debt $ 8,731,731 $ 8,330,222 $ 8,742,739 $ 9,054,277 $ 1,907,704 $ 1,912,646 Non-traded debt 283,517 272,689 1,144,185 1,088,630 4,097 3,783
Assets and Liabilities Reported at Fair Value on a Recurring Basis	The following table summarizes the Company’s assets and liabilities measured on a recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC: 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 assets (1) $ 52,460 $ 27,019 $ 25,441 Liabilities: Deferred compensation plan liabilities (2) $ 62,599 $ 62,599 (1) The deferred compensation plan assets consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plans, which are structured as rabbi trusts. 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 quotes. The cost basis of the investment funds is $53,719 . (2) The deferred compensation plan liabilities are the Company’s liabilities under its deferred compensation plans. The liabilities represent the fair value of the participant shadow accounts, and the value is based on quoted market prices in active markets for identical assets.
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 6.7% – 33.3% Automobiles and trucks 10.0% – 33.3%
Changes in the Company's Accrual for Product Warranty Claims	Changes in the Company’s accrual for product warranty claims during 2018 , 2017 and 2016 , including customer satisfaction settlements during the year, were as follows: 2018 2017 2016 Balance at January 1 $ 151,425 $ 34,419 $ 31,878 Charges to expense 31,706 39,707 38,954 Settlements (57,843 ) (53,143 ) (36,413 ) Acquisition, divestiture and other adjustments (68,221 ) 130,442 Balance at December 31 $ 57,067 $ 151,425 $ 34,419
Summary of Adjustments and Reclassifications	The table below summarizes the adjustments and reclassifications in the 2017 and 2016 Consolidated Income Statements. In addition, the Inventory Accounting Change reduced previously reported 2017 Inventories, Deferred income taxes and retained earnings by $58,910 , $14,595 and $44,315 , respectively, and reduced previously reported 2017 segment profit for Performance Coatings and Consumer Brands Groups by $35,722 and $23,188 , respectively. Although there were changes to certain captions on the Cash flow statement due to the Inventory Accounting Change, Cash flow from operations was not changed for 2017. The effect of continuing to apply the historical accounting to 2018 would not have been material. (millions of dollars except per share data) Year Ended December 31, 2017 Year Ended December 31, 2016 Previously Reported Adoption of ASU 2017-07 Inventory Accounting Change Adjusted Previously Reported Adoption of ASU 2017-07 Adjusted Cost of goods sold $ 8,202.6 $ 3.5 $ 58.9 $ 8,265.0 $ 5,932.9 $ 1.4 $ 5,934.3 Selling, general and administrative expenses 4,785.4 12.2 4,797.6 4,134.5 5.8 4,140.3 Other income (17.0 ) (15.7 ) (32.7 ) (4.6 ) (7.2 ) (11.8 ) Income from continuing operations before income taxes 1,528.2 (58.9 ) 1,469.3 1,595.2 1,595.2 Income tax (credit) expense (285.6 ) (14.6 ) (300.2 ) 462.5 462.5 Net income from continuing operations 1,813.8 (44.3 ) 1,769.5 1,132.7 1,132.7 Net income $ 1,772.3 $ (44.3 ) $ 1,727.9 $ 1,132.7 $ 1,132.7 Diluted net income per share from continuing operations $ 19.11 $ (.47 ) $ 18.64 $ 11.99 $ 11.99 Diluted net income per share $ 18.67 $ (.47 ) $ 18.20 $ 11.99 $ 11.99

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Accounts Receivable and Current and Long-Term Contract Assets and Liabilities	The Company’s Accounts receivable and current and long-term contract assets and liabilities are summarized in the following table. Accounts Receivable, Less Allowance Contract Assets (Current) Contract Assets (Long-Term) Contract Liabilities (Current) Contract Liabilities (Long-Term) Balance at January 1, 2018 $ 2,104,555 $ 33,031 $ 135,150 $ 208,909 $ 8,745 Balance at December 31, 2018 2,018,768 56,598 213,954 272,857 8,745

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Effect of Inventory Valuation Method on Net Income and Net Income Per Common Share	The following presents the effect on inventories, net income and net income per share had the Company used the first-in, first-out (FIFO) inventory valuation method adjusted for income taxes at the statutory rate in effect at each reporting date 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. The decrease in percentage of total inventories on LIFO from 2016 to 2017 was due to the acquisition of Valspar (See Note 4) which only carried approximately 40 percent of its inventory on the LIFO method. Certain amounts in the table below for 2017 have been adjusted to reflect the Inventory Accounting Change (see Note 1). 2018 2017 2016 Percentage of total inventories on LIFO 72 % 71 % 79 % Excess of FIFO over LIFO $ 436,010 $ 288,186 $ 253,353

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Preliminary Allocation of the Fair Value of the Valspar Acquisition	The preliminary and final allocation of the fair value of the Acquisition is summarized in the following table. The allocation of the fair value is based on the acquisition method of accounting and third-party valuation appraisals. The measurement period adjustments resulted from differences between the preliminary and final report of third-party valuation appraisals. (millions of dollars) Preliminary Allocation (as reported at December 31, 2017) Measurement Period Adjustments Final Allocation (as reported at June 30, 2018) Cash $ 129.1 $ 129.1 Accounts receivable 817.5 817.5 Inventories 684.5 $ (0.1 ) 684.4 Indefinite-lived trademarks 775.9 (161.6 ) 614.3 Finite-lived intangible assets 5,071.8 (148.9 ) 4,922.9 Goodwill 5,675.2 213.6 5,888.8 Property, plant and equipment 833.0 7.7 840.7 All other assets 231.1 4.0 235.1 Accounts payable (553.2 ) (553.2 ) Long-term debt (1,603.5 ) (1,603.5 ) Deferred taxes (2,028.9 ) 113.0 (1,915.9 ) All other liabilities (1,093.1 ) (27.7 ) (1,120.8 ) Total $ 8,939.4 $ — $ 8,939.4 Total, net of cash $ 8,810.3 $ 8,810.3

Goodwill, Intangible and Long_2

Goodwill, Intangible and Long-Lived Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in the 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 The Americas Group Consumer Brands Group Performance Coatings Group Consolidated Totals Balance at January 1, 2016 (1) $ 295,052 $ 701,071 $ 147,210 $ 1,143,333 Impairment charged to operations (10,455 ) (10,455 ) Currency and other adjustments 813 (1,197 ) (5,602 ) (5,986 ) Balance at December 31, 2016 (2) 285,410 699,874 141,608 1,126,892 Acquisition 2,276,127 1,473,239 1,925,878 5,675,244 Currency and other adjustments (5,928 ) 60,128 (41,991 ) 12,209 Balance at December 31, 2017 (2) 2,555,609 2,233,241 2,025,495 6,814,345 Acquisition adjustments (273,922 ) (413,248 ) 900,764 213,594 Currency and other adjustments (25,133 ) (66,124 ) 20,020 (71,237 ) Balance at December 31, 2018 (2) $ 2,256,554 $ 1,753,869 $ 2,946,279 $ 6,956,702 (1) Net of accumulated impairment losses of $8,904 ( $8,113 in the Consumer Brands Group and $791 in the Performance Coatings Group). (2) Net of accumulated impairment losses of $19,359 ( $10,455 in The Americas Group, $8,113 in the Consumer Brands Group and $791 in the Performance Coatings Group).
Summary of the 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 Customer Relationships Intellectual Property All Other Subtotal December 31, 2018 Weighted-average amortization period 7 years 15 years 20 years 13 years 17 years Gross $ 165,198 $ 3,103,665 $ 1,730,337 $ 315,008 $ 5,314,208 Accumulated amortization (127,303 ) (326,333 ) (136,985 ) (256,155 ) (846,776 ) Net value $ 37,895 $ 2,777,332 $ 1,593,352 $ 58,853 $ 4,467,432 $ 734,147 $ 5,201,579 December 31, 2017 Weighted-average amortization period 7 years 15 years 20 years 13 years 17 years Gross $ 165,019 $ 3,361,675 $ 1,774,000 $ 329,440 $ 5,630,134 Accumulated amortization (116,621 ) (129,568 ) (51,742 ) (257,506 ) (555,437 ) Net value $ 48,398 $ 3,232,107 $ 1,722,258 $ 71,934 $ 5,074,697 $ 927,664 $ 6,002,361 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

Exit or Disposal Activities (Ta

Exit or Disposal Activities (Tables)	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Summary of the Activity and Remaining Liabilities Associated with Qualified Exit Costs	The following tables summarize the activity and remaining liabilities associated with qualified exit costs: Balance at December 31, 2017 Provisions in Actual Balance at December 31, 2018 Administrative segment acquisition-related restructuring: Severance and related costs $ 6,019 $ 12,043 $ (16,939 ) $ 1,123 Other qualified exit costs 5,541 208 (1,503 ) 4,246 Performance Coatings Group facilities shutdown in 2018: Severance and related costs 13 (13 ) — Other qualified exit costs 2,047 (1,426 ) 621 Performance Coatings Group branches shutdown in 2017: Severance and related costs 14 274 (235 ) 53 Other qualified exit costs 121 338 (224 ) 235 Consumer Brands Group facilities shutdown in 2016: Severance and related costs 21 (21 ) — Performance Coatings Group branches shutdown in 2016: Severance and related costs — Other qualified exit costs 111 (77 ) 34 Severance and other qualified exit costs for facilities shutdown prior to 2016 1,558 (818 ) 740 Totals $ 13,385 $ 14,923 $ (21,256 ) $ 7,052 Balance at December 31, 2016 Acquired Balances Provisions in Actual Balance at December 31, 2017 Administrative segment Acquisition-related restructuring in 2017: Severance and related costs $ 3,303 $ 38,739 $ (36,023 ) $ 6,019 Other qualified exit costs 1,153 8,569 (4,181 ) 5,541 Performance Coatings Group stores shutdown in 2017: Severance and related costs 14 14 Other qualified exit costs 129 (8 ) 121 Consumer Brands Group facilities shutdown in 2016: Severance and related costs $ 907 2,910 (3,796 ) 21 Performance Coatings Group stores shutdown in 2016: Severance and related costs 136 (136 ) — Other qualified exit costs 269 97 (255 ) 111 The Americas Group stores shutdown in 2015: Other qualified exit costs 195 20 (215 ) — Performance Coatings Group stores shutdown in 2015: Other qualified exit costs 433 25 (446 ) 12 Severance and other qualified exit costs for facilities shutdown prior to 2015 1,908 (362 ) 1,546 Totals $ 3,848 $ 4,456 $ 50,503 $ (45,422 ) $ 13,385 Balance at December 31, 2015 Provisions in Actual Balance at December 31, 2016 Consumer Brands Group facilities shutdown in 2016: Severance and related costs $ 1,020 $ (113 ) $ 907 Performance Coatings Group stores shutdown in 2016: Severance and related costs 136 136 Other qualified exit costs 369 (100 ) 269 The Americas Group stores shutdown in 2015: Other qualified exit costs $ 12 481 (298 ) 195 Performance Coatings Group stores shutdown in 2015: Severance and related costs 1,096 (1,096 ) — Other qualified exit costs 2,750 499 (2,816 ) 433 The Americas Group stores shutdown in 2014: Other qualified exit costs 184 (81 ) 103 Consumer Brands Group facilities shutdown in 2014: Severance and related costs 445 (46 ) 399 Other qualified exit costs 52 (39 ) 13 Performance Coatings 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

Pension, Health Care and Post_2

Pension, Health Care and Postretirement Benefits Other Than Pensions (Tables)	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Summary of the Components of the Net Pension Costs and Cumulative Other Comprehensive Loss Related to the Defined Benefit Pension Plans	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 2018 2017 2016 2018 2017 2016 Net pension cost (credit): Service cost $ 7,259 $ 21,711 $ 22,291 $ 8,160 $ 7,039 $ 4,225 Interest cost 32,161 31,085 26,498 9,486 8,177 7,441 Expected return on plan assets (53,005 ) (48,275 ) (50,197 ) (10,837 ) (9,070 ) (6,915 ) Amortization of prior service cost 3,530 1,362 1,205 Amortization of actuarial losses 6,210 4,532 1,518 1,833 1,540 Ongoing pension cost (credit) (10,055 ) 12,093 4,329 8,327 7,979 6,291 Settlement cost (credit) 37,648 (1,990 ) (374 ) 71 4,231 Curtailment cost 825 Net pension cost 28,418 10,103 4,329 7,953 8,050 10,522 Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial losses (gains) arising during the year 29,927 (65,829 ) 18,926 (5,107 ) (13,960 ) 17,030 Prior service cost arising during the year 4,577 844 2,081 Amortization of actuarial losses (6,210 ) (4,532 ) (1,518 ) (1,833 ) (1,540 ) Amortization of prior service cost (3,530 ) (1,362 ) (1,205 ) (Loss) gain recognized for settlement (37,648 ) 1,990 374 (71 ) Prior service cost recognized for curtailment (825 ) Loss arising from curtailment (742 ) Exchange rate (loss) gain recognized during the year (1,890 ) 4,133 (11,627 ) Total recognized in Cumulative other comprehensive loss (8,241 ) (70,567 ) 15,270 (8,141 ) (11,731 ) 3,863 Total recognized in net pension cost and Cumulative other comprehensive loss $ 20,177 $ (60,464 ) $ 19,599 $ (188 ) $ (3,681 ) $ 14,385
Summary of the 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, 2018 , 2017 and 2016 . 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, 2018 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) $ 215,812 $ 123,982 $ 91,830 Fixed income investments (2) 609,926 462,777 147,149 Other assets (3) 38,413 38,413 Total investments in fair value hierarchy 864,151 $ 586,759 $ 277,392 Investments measured at NAV or its equivalent (4) 166,376 Total investments $ 1,030,527 Fair value at December 31, 2017 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) $ 514,983 $ 409,911 $ 105,072 Fixed income investments (2) 380,902 146,816 234,086 Other assets (3) 39,196 39,196 Total investments in fair value hierarchy 935,081 $ 556,727 $ 378,354 Investments measured at NAV or its equivalent (4) 533,561 Total investments $ 1,468,642 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 Total investments $ 1,012,021 (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.
Summary of the Obligations, Plan Assets and Assumptions Used for Defined Benefit Pension Plans	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 2018 2017 2016 2018 2017 2016 Accumulated benefit obligations at end of year $ 520,958 $ 913,363 $ 630,159 $ 280,046 $ 308,164 $ 172,047 Projected benefit obligations: Balances at beginning of year $ 916,175 $ 632,797 $ 624,791 $ 349,597 $ 206,873 $ 201,854 Service cost 7,259 21,711 22,291 8,160 7,039 4,225 Interest cost 32,161 31,085 26,498 9,486 8,177 7,441 Actuarial (gains) losses (13,552 ) 67,945 8,132 (20,958 ) (4,002 ) 43,736 Acquisition 246,894 115,045 Contributions and other 3,834 844 2,081 1,572 1,397 947 Settlements (379,064 ) (43,381 ) (6,319 ) (758 ) (14,862 ) Effect of foreign exchange (16,226 ) 22,938 (30,360 ) Benefits paid (42,138 ) (41,720 ) (50,996 ) (9,467 ) (7,112 ) (6,108 ) Balances at end of year 524,675 916,175 632,797 315,845 349,597 206,873 Plan assets: Balances at beginning of year 1,188,638 847,013 858,605 280,004 165,008 162,339 Actual returns on plan assets 9,525 182,049 39,404 (4,896 ) 16,282 33,569 Acquisition 244,677 82,314 Contributions and other 8,278 6,048 15,019 Settlements (379,064 ) (43,381 ) (6,319 ) (758 ) (14,862 ) Effect of foreign exchange (14,034 ) 18,222 (24,949 ) Benefits paid (42,138 ) (41,720 ) (50,996 ) (9,467 ) (7,112 ) (6,108 ) Balances at end of year 776,961 1,188,638 847,013 253,566 280,004 165,008 Excess (deficient) plan assets over projected benefit obligations $ 252,286 $ 272,463 $ 214,216 $ (62,279 ) $ (69,593 ) $ (41,865 ) Assets and liabilities recognized in the Consolidated Balance Sheets: Deferred pension assets $ 252,286 $ 272,463 $ 214,216 $ 18,378 $ 24,280 $ 11,313 Other accruals (2,716 ) (2,523 ) (1,522 ) Other long-term liabilities (77,941 ) (91,350 ) (51,656 ) $ 252,286 $ 272,463 $ 214,216 $ (62,279 ) $ (69,593 ) $ (41,865 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (56,335 ) $ (64,799 ) $ (134,847 ) $ (25,732 ) $ (33,873 ) $ (45,604 ) Prior service costs (5,719 ) (5,496 ) (6,015 ) $ (62,054 ) $ (70,295 ) $ (140,862 ) $ (25,732 ) $ (33,873 ) $ (45,604 ) Weighted-average assumptions used to determine projected benefit obligations: Discount rate 3.60 % 3.60 % 4.20 % 3.04 % 2.73 % 3.21 % Rate of compensation increase 3.17 % 3.33 % 3.38 % 3.65 % 3.69 % 4.43 % Weighted-average assumptions used to determine net pension costs: Discount rate 3.60 % 4.15 % 4.40 % 2.73 % 3.88 % 4.20 % Expected long-term rate of return on assets 5.00 % 5.00 % 6.00 % 3.84 % 4.75 % 4.70 % Rate of compensation increase 3.33 % 3.30 % 3.14 % 3.69 % 4.33 % 4.00 %
Summary of the 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 2018 2017 2016 Benefit obligation: Balance at beginning of year - unfunded $ 290,823 $ 265,137 $ 263,383 Service cost 1,994 2,105 2,244 Interest cost 10,178 10,749 11,009 Acquisition 17,010 Actuarial (gain) loss (9,047 ) 11,637 7,548 Plan amendments (77 ) Benefits paid (19,237 ) (15,815 ) (19,047 ) Balance at end of year - unfunded $ 274,634 $ 290,823 $ 265,137 Liabilities recognized in the Consolidated Balance Sheets: Postretirement benefits other than pensions $ (257,621 ) $ (274,675 ) $ (250,397 ) Other accruals (17,013 ) (16,148 ) (14,740 ) $ (274,634 ) $ (290,823 ) $ (265,137 ) Amounts recognized in Cumulative other comprehensive loss: Net actuarial losses $ (32,774 ) $ (44,147 ) $ (23,211 ) Prior service credits 6,134 12,625 19,205 $ (26,640 ) $ (31,522 ) $ (4,006 ) Weighted-average assumptions used to determine benefit obligation: Discount rate 4.21 % 3.61 % 4.10 % Health care cost trend rate - pre-65 6.69 % 7.00 % 6.00 % Health care cost trend rate - post-65 4.94 % 5.00 % 5.50 % Prescription drug cost increases 9.75 % 11.00 % 10.50 % Employer Group Waiver Plan (EGWP) trend rate 9.75 % 11.00 % 10.60 % Weighted-average assumptions used to determine net periodic benefit cost: Discount rate 3.61 % 4.10 % 4.30 % Health care cost trend rate - pre-65 7.00 % 6.00 % 6.00 % Health care cost trend rate - post-65 5.00 % 5.50 % 5.00 % Prescription drug cost increases 11.00 % 10.50 % 11.50 %
Summary of the Components of 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 2018 2017 2016 Net periodic benefit cost (credit): Service cost $ 1,994 $ 2,105 $ 2,244 Interest cost 10,178 10,749 11,009 Amortization of actuarial losses 2,326 32 Amortization of prior service credit (6,569 ) (6,579 ) (6,578 ) Net periodic benefit cost 7,929 6,307 6,675 Settlement credit (9,332 ) Net periodic benefit cost (credit) 7,929 (3,025 ) 6,675 Other changes in projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes): Net actuarial (gain) loss arising during the year (9,047 ) 11,637 7,548 Prior service credit arising during the year (78 ) Amortization of actuarial losses (2,326 ) (32 ) Settlement cost 9,332 Amortization of prior service credit 6,569 6,579 6,578 Total recognized in Cumulative other comprehensive loss (4,882 ) 27,516 14,126 Total recognized in net periodic benefit cost and Cumulative other comprehensive loss $ 3,047 $ 24,491 $ 20,801
Effect of Changes in Assumed Health Care and Prescription Drug Cost Trend Rates	A one-percentage-point change in assumed health care and prescription drug cost trend rates would have had the following effects at December 31, 2018 : One-Percentage Point Increase (Decrease) Effect on total of service and interest cost components $ 132 $ (132 ) Effect on the postretirement benefit obligation $ 3,602 $ (3,636 )
Expected Retiree Health Care Benefit Cash Payments	The Company expects to make retiree health care benefit cash payments as follows: Expected Cash Payments 2019 $ 17,013 2020 18,757 2021 19,391 2022 19,969 2023 19,991 2024 through 2028 98,836 Total expected benefit cash payments $ 193,957

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt Due Date 2018 2017 2016 2.25% Senior Notes (1) 2020 $ 1,496,015 $ 1,493,106 3.45% Senior Notes (1) 2027 1,485,023 1,483,244 2.75% Senior Notes (1) 2022 1,242,850 1,240,758 4.50% Senior Notes (1) 2047 1,229,373 1,228,647 Term Loan 2022 847,337 3.125% Senior Notes (1) 2024 496,287 495,602 4.20% Senior Notes (2) 2022 416,815 422,370 3.45% Senior Notes 2025 397,621 397,260 $ 396,898 4.55% Senior Notes 2045 394,082 393,859 393,637 3.95% Senior Notes (2) 2026 360,822 362,381 7.25% Senior Notes (2) 2019 319,394 4.00% Senior Notes 2042 296,251 296,094 295,938 Floating Rate Loan 2021 257,371 269,247 3.30% Senior Notes (2) 2025 249,304 249,207 4.40% Senior Notes (2) 2045 238,747 238,334 7.375% Debentures 2027 119,029 118,982 118,936 0.92% Fixed Rate Loan 2021 22,877 23,933 7.45% Debentures 2097 3,500 3,500 3,500 2.00% to 8.0% Promissory Notes Through 2027 2,090 2,490 2,417 $ 8,708,057 $ 9,885,745 $ 1,211,326 (1) Senior notes issued in 2017 to fund the Acquisition (2) Senior notes acquired in 2017 through the Acquisition

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Common Shares in Treasury and Common Shares Outstanding	Shares outstanding shown in the following table included 489,647 , 489,260 and 488,714 shares of common stock held in a revocable trust at December 31, 2018 , 2017 and 2016 , 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. Shares in Treasury Shares Outstanding Balance at January 1, 2016 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 Shares tendered as payment for option rights exercised 16,545 (16,545 ) Shares issued for exercise of option rights 1,152,015 Shares tendered in connection with grants of restricted stock 82,777 (82,777 ) Net shares canceled of restricted stock (182,079 ) Balance at December 31, 2017 23,676,733 93,883,645 Shares tendered as payment for option rights exercised 1,159 (1,159 ) Shares issued for exercise of option rights 661,599 Shares tendered in connection with grants of restricted stock 52,144 (52,144 ) Net shares issued for grants of restricted stock 149,821 Treasury stock purchased 1,525,000 (1,525,000 ) Balance at December 31, 2018 25,255,036 93,116,762

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted-Average Assumptions Used for Estimating the Fair Value of 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: 2018 2017 2016 Risk-free interest rate 2.99 % 1.97 % 1.24 % Expected life of option rights 5.05 years 5.05 years 5.05 years Expected dividend yield of stock .89 % .85 % 1.06 % Expected volatility of stock .211 .213 .212
Summary of Non-Qualified and Incentive Stock Option Right Activity	A summary of the Company’s non-qualified and incentive stock option right activity is shown in the following table: 2018 2017 2016 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 4,646,313 $ 204.33 5,163,709 $ 163.61 5,219,506 $ 141.58 Granted 565,336 410.00 689,506 377.84 712,967 271.46 Exercised (662,218 ) 137.03 (1,154,698 ) 123.16 (733,876 ) 108.81 Forfeited (60,288 ) 327.08 (49,977 ) 267.02 (26,653 ) 232.83 Expired (3,894 ) 238.26 (2,227 ) 236.97 (8,235 ) 176.28 Outstanding end of year 4,485,249 $ 238.53 $ 704,160 4,646,313 $ 204.33 $ 955,810 5,163,709 $ 163.61 $ 545,531 Exercisable at end of year 3,274,780 $ 188.48 $ 671,269 3,288,237 $ 156.43 $ 833,938 3,783,755 $ 130.59 $ 522,921
Summary of RSU Activity	A summary of the Company’s RSU activity for the years ended December 31 is shown in the following table: 2018 2017 2016 Outstanding at beginning of year 335,796 397,326 467,744 Granted 116,636 112,647 99,662 Exchanged Valspar awards (net of forfeitures) 51,009 Vested (150,576 ) (215,433 ) (166,405 ) Forfeited (11,454 ) (9,753 ) (3,675 ) Outstanding at end of year 290,402 335,796 397,326

Other (Tables)

Other (Tables)	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
Other General Expense, Net	Included in Other general expense - net were the following: 2018 2017 2016 Provisions for environmental matters - net $ 176,297 $ 15,443 $ 42,932 Loss (gain) on sale or disposition of assets 12,825 5,422 (30,564 ) Total $ 189,122 $ 20,865 $ 12,368
Other (Income) Expense, Net	Included in Other expense (income) - net were the following: 2018 2017 2016 Dividend and royalty income $ (4,276 ) $ (7,648 ) $ (4,573 ) Net expense from financing activities 9,658 9,843 8,667 Foreign currency transaction related losses 7,532 450 7,335 Domestic pension plan settlement expense 37,648 Miscellaneous pension income (10,761 ) (15,728 ) (7,236 ) Other income (32,219 ) (32,570 ) (25,279 ) Other expense 12,535 12,951 9,263 Total $ 20,117 $ (32,702 ) $ (11,823 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2018 , 2017 and 2016 were as follows: 2018 2017 2016 Deferred tax assets: Exit costs, environ-mental and other similar items $ 84,517 $ 50,193 $ 74,535 Employee related and benefit items 96,963 104,098 166,313 Other items 161,578 113,184 148,910 Total deferred tax assets 343,058 267,475 389,758 Deferred tax liabilities: Depreciation and amortization 1,303,620 1,506,650 254,430 LIFO inventories 64,502 66,580 83,659 Other items 29,464 49,670 59,746 Total deferred tax liabilities 1,397,586 1,622,900 397,835 Net deferred tax liabilities $ 1,054,528 $ 1,355,425 $ 8,077
Significant Components of the Provisions for Income Taxes	Significant components of the provisions for income taxes were as follows: 2018 2017 2016 Current: Federal $ 288,755 $ 269,330 $ 438,244 Foreign 53,155 53,442 31,125 State and local 52,372 39,320 61,402 Total current 394,282 362,092 530,771 Deferred: Federal (102,149 ) (486,669 ) (56,891 ) Foreign (35,276 ) (42,292 ) (2,121 ) State and local (5,953 ) (91,769 ) (9,229 ) Total deferred (143,378 ) (620,730 ) (68,241 ) Total provisions (credits) for income taxes $ 250,904 $ (258,638 ) $ 462,530
Significant Components of Income Before Income Taxes as Used for Income Tax Purposes	Significant components of income before income taxes as used for income tax purposes, were as follows: 2018 2017 2016 Domestic $ 1,309,279 $ 1,415,572 $ 1,504,990 Foreign 50,371 53,738 90,243 $ 1,359,650 $ 1,469,310 $ 1,595,233
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: 2018 2017 2016 Statutory federal income tax rate 21.0 % 35.0 % 35.0 % Effect of: State and local income taxes 3.2 2.1 2.3 Investment vehicles (1.2 ) (1.4 ) (1.5 ) Domestic production activities (3.1 ) (2.9 ) Employee share-based payments (3.2 ) (5.9 ) (2.8 ) Research and development credits (1.3 ) (.9 ) (.2 ) Amended returns and refunds (1.6 ) (.9 ) Other - net (.3 ) (.4 ) (.9 ) Subtotal 16.6 % 24.5 % 29.0 % Effect of: Tax Act 1.9 (40.8 ) Subsidiary mergers (4.2 ) Reported effective tax rate 18.5 % (20.5 )% 29.0 %
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2018 2017 2016 Balance at beginning of year $ 59,001 $ 32,805 $ 33,873 Additions from the Acquisition 12,396 18,928 Additions based on tax positions related to the current year 12,890 6,780 5,674 Additions for tax positions of prior years 10,968 4,033 3,890 Reductions for tax positions of prior years (1,993 ) (1,168 ) (5,901 ) Settlements (1,380 ) (368 ) (3,763 ) Lapses of statutes of limitations (2,393 ) (2,009 ) (968 ) Balance at end of year $ 89,489 $ 59,001 $ 32,805

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Net Income Per Common Share	2018 2017 2016 Basic Average shares outstanding 92,992,457 92,908,638 91,838,603 Net income Continuing operations (1) $ 1,108,746 $ 1,769,488 $ 1,132,703 Discontinued operations (41,540 ) Net income (1) $ 1,108,746 $ 1,727,948 $ 1,132,703 Basic net income per share Continuing operations (1) $ 11.92 $ 19.04 $ 12.33 Discontinued operations (.44 ) Net income per share (1) $ 11.92 $ 18.60 $ 12.33 Diluted Average shares outstanding 92,992,457 92,908,638 91,838,603 Stock options and other contingently issuable shares (2) 1,938,586 1,931,157 2,089,921 Non-vested restricted stock grants 57,027 87,418 559,562 Average shares outstanding assuming dilution 94,988,070 94,927,213 94,488,086 Net income Continuing operations (1) $ 1,108,746 $ 1,769,488 $ 1,132,703 Discontinued operations (41,540 ) Net income (1) $ 1,108,746 $ 1,727,948 $ 1,132,703 Diluted net income per share Continuing operations (1) $ 11.67 $ 18.64 $ 11.99 Discontinued operations (.44 ) Net income per share (1) $ 11.67 $ 18.20 $ 11.99 (1) The year ended December 31, 2017 has been adjusted for an inventory accounting change. See Note 1. (2) Stock options and other contingently issuable shares excludes 28,321 , 638,795 and 62,935 shares at December 31, 2018 , 2017 and 2016 , respectively, due to their anti-dilutive effect.

Summary of Quarterly Results _2

Summary of Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Data [Abstract]
Summary of Quarterly Results of Operations	2018 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 3,965,006 $ 4,773,796 $ 4,731,470 $ 4,064,221 $ 17,534,493 Gross profit 1,686,847 2,038,628 2,010,404 1,682,683 7,418,562 Net income 250,127 403,604 354,027 100,988 1,108,746 Net income per share - basic 2.68 4.34 3.80 1.09 11.92 Net income per share - diluted 2.62 4.25 3.72 1.07 11.67 2017 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Full Year Net sales $ 2,761,387 $ 3,735,817 $ 4,507,020 $ 3,979,564 $ 14,983,788 Gross profit 1,343,053 1,734,617 1,901,827 1,739,303 6,718,800 Net income 239,152 319,111 316,606 853,079 1,727,948 Net income per share - basic 2.58 3.44 3.40 9.14 18.60 Net income per share - diluted 2.53 3.36 3.33 8.92 18.20

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Summary of the 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, 2018 : 2019 $ 412,211 2020 369,570 2021 306,994 2022 245,437 2023 179,892 Later years 392,423 Total minimum lease payments $ 1,906,527

Reportable Segment Information

Reportable Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Reportable Segment Financial Information	(millions of dollars) 2018 The Americas Group Consumer Brands Group Performance Coatings Group Administrative Consolidated Totals Net external sales $ 9,625 $ 2,739 $ 5,166 $ 4 $ 17,534 Intersegment transfers 1 3,460 22 (3,483 ) Total net sales and intersegment transfers $ 9,626 $ 6,199 $ 5,188 $ (3,479 ) $ 17,534 Segment profit $ 1,898 $ 261 $ 452 $ 2,611 Interest expense $ (367 ) (367 ) Administrative expenses and other (884 ) (884 ) Income from continuing operations before income taxes $ 1,898 $ 261 $ 452 $ (1,251 ) $ 1,360 Reportable segment margins 19.7 % 4.2 % 8.7 % Identifiable assets $ 4,071 $ 5,385 $ 8,535 $ 1,143 $ 19,134 Capital expenditures 70 96 61 24 251 Depreciation 72 89 78 39 278 Amortization 5 97 211 5 318 2017 The Americas Group Consumer Brands Group Performance Coatings Group Administrative Consolidated Totals Net external sales $ 9,117 $ 2,155 $ 3,706 $ 6 $ 14,984 Intersegment transfers 6 3,162 22 (3,190 ) Total net sales and intersegment transfers $ 9,123 $ 5,317 $ 3,728 $ (3,184 ) $ 14,984 Segment profit $ 1,769 $ 203 $ 263 $ 2,235 Interest expense $ (263 ) (263 ) Administrative expenses and other (503 ) (503 ) Income from continuing operations before income taxes $ 1,769 $ 203 $ 263 $ (766 ) $ 1,469 Reportable segment margins 19.4 % 3.8 % 7.1 % Identifiable assets $ 4,359 $ 5,816 $ 8,265 $ 1,460 $ 19,900 Capital expenditures 69 95 37 22 223 Depreciation 75 92 69 49 285 Amortization 4 61 135 7 207 2016 The Americas Group Consumer Brands Group Performance Coatings Group Administrative Consolidated Totals Net external sales $ 8,377 $ 1,528 $ 1,946 $ 5 $ 11,856 Intersegment transfers 39 2,775 15 (2,829 ) Total net sales and intersegment transfers $ 8,416 $ 4,303 $ 1,961 $ (2,824 ) $ 11,856 Segment profit $ 1,606 $ 301 $ 257 $ 2,164 Interest expense $ (154 ) (154 ) Administrative expenses and other (415 ) (415 ) Income from continuing operations before income taxes $ 1,606 $ 301 $ 257 $ (569 ) $ 1,595 Reportable segment margins 19.1 % 7.0 % 13.1 % Identifiable assets $ 2,148 $ 2,005 $ 818 $ 1,782 $ 6,753 Capital expenditures 100 99 19 21 239 Depreciation 76 47 20 29 172 Amortization 4 5 9 7 25

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2018USD ($)contract	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)contract	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)contract$ / shares		Dec. 31, 2017USD ($)contract$ / shares		Dec. 31, 2016USD ($)contract$ / shares		Jan. 01, 2019USD ($)	Jan. 01, 2018USD ($)
Significant Accounting Policies [Line Items]
Carrying amount of the investments, included in other assets		$ 181,171				$ 189,386				$ 181,171		$ 189,386		$ 193,413
Liability for estimated future capital contributions to the investments		$ 182,994				$ 179,026				$ 182,994		$ 179,026		$ 178,584
Number of derivative contracts outstanding | contract		0				0				0		0		0
Allowance for doubtful accounts		$ 45,883				$ 52,997				$ 45,883		$ 52,997		$ 40,450
Inventory valuation reserves		105,871				103,698				$ 105,871		$ 103,698		$ 87,715
Useful life of intangible assets										17 years		17 years		10 years
Amounts outstanding under standby letter of credit agreements		65,622				75,272				$ 65,622		$ 75,272		$ 43,658
Foreign currency translation adjustments		(607,652)				(353,346)				(607,652)		(353,346)		(501,277)
Prior service costs and net actuarial losses related to pension and other postretirement benefit plans		67,091				84,863				67,091		84,863		125,096
Unrealized net gains (losses) on marketable equity securities						2,320						2,320		1,015
Unrealized net gains on cash flow hedges		44,809				51,019				44,809		51,019
Research and development costs included in technical expenditures										51,922		58,474		58,041
Advertising cost										357,843		374,059		351,002
Reclassification of opening unrealized gains to retained earnings																	$ 0
Revenue		4,064,221	$ 4,731,470	$ 4,773,796	$ 3,965,006	3,979,564	$ 4,507,020	$ 3,735,817	$ 2,761,387	17,534,493		14,983,788		11,855,602
Selling, general and administrative expense	[1]									(5,033,780)		(4,797,641)		(4,140,260)
Income tax credit						668,779				$ (250,904)	[2]	$ 300,178	[2]	$ (462,530)	[2]
Reduction of diluted net income per share from continuing operations (in dollars per share) | $ / shares	[2]									$ (11.67)		$ (18.64)		$ (11.99)
Reduction of finished goods	[3]	(1,426,366)				(1,356,429)				$ (1,426,366)		$ (1,356,429)		$ (898,627)
Reduction of deferred income taxes														(57,162)
Reduction of retained earnings	[3]	$ (6,246,548)				(5,458,416)				(6,246,548)		(5,458,416)		(4,049,497)
Reduction to segment profit										(2,611,000)		(2,235,000)		(2,164,000)
Performance Coatings Group
Significant Accounting Policies [Line Items]
Revenue										5,166,000		3,706,000		1,946,000
Consumer Brands Group
Significant Accounting Policies [Line Items]
Revenue										$ 2,739,000		2,155,000		1,528,000
Change in Inventory Accounting Principle
Significant Accounting Policies [Line Items]
Income tax credit												$ 14,595
Reduction of diluted net income per share from continuing operations (in dollars per share) | $ / shares												$ 0.47
Reduction of finished goods						58,910						$ 58,910
Reduction of deferred income taxes						14,595						14,595
Reduction of retained earnings						$ 44,315						44,315
Change in Inventory Accounting Principle | Performance Coatings Group
Significant Accounting Policies [Line Items]
Reduction to segment profit												35,722
Change in Inventory Accounting Principle | Consumer Brands Group
Significant Accounting Policies [Line Items]
Reduction to segment profit												23,188
Minimum
Significant Accounting Policies [Line Items]
Useful life of intangible assets										15 years
Maximum
Significant Accounting Policies [Line Items]
Useful life of intangible assets										20 years
Retained Earnings
Significant Accounting Policies [Line Items]
Reclassification of opening unrealized gains to retained earnings																	$ 2,320
Cost of Goods Sold
Significant Accounting Policies [Line Items]
Pension and other postretirement benefit plan expense										$ 3,483
SG&A
Significant Accounting Policies [Line Items]
Pension and other postretirement benefit plan expense										13,930
ASU 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Significant Accounting Policies [Line Items]
Revenue										(103,108)
Selling, general and administrative expense										103,108
ASU 2017-07
Significant Accounting Policies [Line Items]
Selling, general and administrative expense												$ (12,200)		$ (5,800)
ASU 2017-07 | Other Expense (Income) - Net
Significant Accounting Policies [Line Items]
Pension and other postretirement benefit plan expense										$ 26,888
ASU 2016-02 | Minimum
Significant Accounting Policies [Line Items]
Lease assets																$ 1,600,000
Lease liabilities																1,600,000
ASU 2016-02 | Maximum
Significant Accounting Policies [Line Items]
Lease assets																1,800,000
Lease liabilities																$ 1,800,000
[1]	The years ended December 31, 2017 and 2016 have been adjusted for the adoption of ASU No. 2017-07.
[2]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[3]	December 31, 2017 has been adjusted for an inventory accounting change.

Significant Accounting Polici_5

Significant Accounting Policies - Carrying Amount and Fair Value of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Publicly traded debt | Carrying Amount
Financial Instruments
Long-term debt	$ 8,731,731	$ 8,742,739	$ 1,907,704
Publicly traded debt | Fair Value
Financial Instruments
Long-term debt	8,330,222	9,054,277	1,912,646
Non-traded debt | Carrying Amount
Financial Instruments
Long-term debt	283,517	1,144,185	4,097
Non-traded debt | Fair Value
Financial Instruments
Long-term debt	$ 272,689	$ 1,088,630	$ 3,783

Significant Accounting Polici_6

Significant Accounting Policies - Assets and Liabilities Reported at Fair Value on a Recurring Basis (Details) $ in Thousands	Dec. 31, 2018USD ($)
Significant Other Observable Inputs (Level 2)
Fair Value Measurements (Textual)
Cost basis of the investment funds	$ 53,719
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Deferred compensation plan assets	27,019
Liabilities:
Deferred compensation plan liabilities	62,599
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Deferred compensation plan assets	25,441
Fair Value, Measurements, Recurring | Fair Value
Assets:
Deferred compensation plan assets	52,460
Liabilities:
Deferred compensation plan liabilities	$ 62,599

Significant Accounting Polici_7

Significant Accounting Policies - Classes of Assets and Ranges of Annual Depreciation Rates (Details)	12 Months Ended
	Dec. 31, 2018
Buildings | Minimum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	4.00%
Buildings | Maximum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	20.00%
Machinery and equipment | Minimum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	10.00%
Machinery and equipment | Maximum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	20.00%
Furniture and fixtures | Minimum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	6.70%
Furniture and fixtures | Maximum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	33.30%
Automobiles and trucks | Minimum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	10.00%
Automobiles and trucks | Maximum
Classes of assets and ranges of annual depreciation rates
Annual depreciation rate on assets	33.30%

Significant Accounting Polici_8

Significant Accounting Policies - Changes in Product Warranty Accruals (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Company's accrual for product warranty claims
Balance	$ 151,425	$ 34,419	$ 31,878
Charges to expense	31,706	39,707	38,954
Settlements	(57,843)	(53,143)	(36,413)
Acquisition, divestiture and other adjustments	(68,221)	130,442
Balance	$ 57,067	$ 151,425	$ 34,419

Significant Accounting Polici_9

Significant Accounting Policies - Summary of Adjustments and Reclassifications (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of goods sold	[1],[2]									$ 10,115,931		$ 8,264,988		$ 5,934,344
Selling, general and administrative expenses	[2]									5,033,780		4,797,641		4,140,260
Other income	[2]									20,117		(32,702)		(11,823)
Income from continuing operations before income taxes	[1]									1,359,650		1,469,310		1,595,233
Income tax (credit) expense						$ (668,779)				250,904	[1]	(300,178)	[1]	462,530	[1]
Net income from continuing operations	[1]									1,108,746		1,769,488		1,132,703
Net income		$ 100,988	$ 354,027	$ 403,604	$ 250,127	$ 853,079	$ 316,606	$ 319,111	$ 239,152	$ 1,108,746	[1],[3],[4]	$ 1,727,948	[1],[3],[4]	$ 1,132,703	[1],[3],[4]
Diluted net income per share from continuing operations (in dollars per share)	[1]									$ 11.67		$ 18.64		$ 11.99
Diluted net income per share (in dollars per share)		$ 1.07	$ 3.72	$ 4.25	$ 2.62	$ 8.92	$ 3.33	$ 3.36	$ 2.53	$ 11.67	[1]	$ 18.20	[1]	$ 11.99	[1]
Inventory Accounting Change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of goods sold												$ 58,900
Income from continuing operations before income taxes												(58,900)
Income tax (credit) expense												(14,595)
Net income from continuing operations												(44,300)
Net income												$ (44,300)
Diluted net income per share from continuing operations (in dollars per share)												$ (0.47)
Diluted net income per share (in dollars per share)												$ (0.47)
Adoption of ASU 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of goods sold												$ 3,500		$ 1,400
Selling, general and administrative expenses												12,200		5,800
Other income												(15,700)		(7,200)
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of goods sold												8,202,600		5,932,900
Selling, general and administrative expenses												4,785,400		4,134,500
Other income												(17,000)		(4,600)
Income from continuing operations before income taxes												1,528,200		1,595,200
Income tax (credit) expense												(285,600)		462,500
Net income from continuing operations												1,813,800		1,132,700
Net income												$ 1,772,300		$ 1,132,700
Diluted net income per share from continuing operations (in dollars per share)												$ 19.11
Diluted net income per share (in dollars per share)												$ 18.67
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The years ended December 31, 2017 and 2016 have been adjusted for the adoption of ASU No. 2017-07.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[4]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue from Contract with Customer [Abstract]
Accounts Receivable, Less Allowance	$ 2,018,768	$ 2,104,555	$ 1,230,987
Contract Assets (Current)	56,598	33,031
Contract Assets (Long-Term)	213,954	135,150
Contract Liabilities (Current)	272,857	208,909
Contract Liabilities (Long-Term)	$ 8,745	$ 8,745

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Inventory [Line Items]
Percentage of total inventories on LIFO	72.00%	71.00%	79.00%
Excess of FIFO over LIFO	$ 436,010	$ 288,186	$ 253,353
Valspar
Inventory [Line Items]
Percentage of total inventories on LIFO	40.00%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($)	Jun. 01, 2017	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Pre-tax gain or loss from discontinued operations
Income taxes from discontinued operations				$ 41,540,000
Reduction of basic net income per common share, discontinued operations (in dollars per share)				$ 0.44
Reduction of diluted net income per common share, discontinued operations (in dollars per share)				$ 0.44
Goodwill			$ 6,956,702,000	$ 6,814,345,000	$ 1,126,892,000	$ 1,143,333,000
The Americas Group
Business Acquisition [Line Items]
Goodwill			2,256,554,000	2,555,609,000	285,410,000	295,052,000
Consumer Brands Group
Business Acquisition [Line Items]
Goodwill			1,753,869,000	2,233,241,000	699,874,000	701,071,000
Performance Coatings Group
Business Acquisition [Line Items]
Goodwill			$ 2,946,279,000	2,025,495,000	$ 141,608,000	$ 147,210,000
North American Industrial Wood Coatings Business | Discontinued Operations
Business Acquisition [Line Items]
Proceeds from divested assets sold	$ 431,000,000
Pre-tax gain or loss from discontinued operations	$ 0
Income taxes from discontinued operations				41,500,000
Valspar
Business Acquisition [Line Items]
Acquisition purchase price (in dollars per share)	$ 113
Enterprise value	$ 8,900,000,000
Finite-lived intangible assets		$ 4,922,900,000		5,071,800,000
Reduction of amortization expense related to measurement period adjustments for finite-lived intangible assets		(7,700,000)
Reduction of amortization expense related to measurement period adjustments for finite-lived intangible assets related to prior year				(5,400,000)
Goodwill		$ 5,888,800,000		$ 5,675,200,000
Valspar | The Americas Group
Business Acquisition [Line Items]
Goodwill	2,000,000,000
Valspar | Consumer Brands Group
Business Acquisition [Line Items]
Goodwill	1,100,000,000
Valspar | Performance Coatings Group
Business Acquisition [Line Items]
Goodwill	$ 2,800,000,000
Valspar | Customer relationships and intellectual property and technology | Minimum
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average amortization period	15 years
Valspar | Customer relationships and intellectual property and technology | Maximum
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average amortization period	20 years
Valspar | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 3,200,000,000
Valspar | Intellectual Property
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 1,700,000,000

Acquisitions - Preliminary Allo

Acquisitions - Preliminary Allocation of the Fair Value of the Valspar Acquisition (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Purchase Price Allocation
Goodwill		$ 6,814,345		$ 6,956,702	$ 6,814,345	$ 1,126,892	$ 1,143,333
Total, net of cash					8,810,315
Measurement Period Adjustments
Goodwill				$ 213,594	5,675,244
Valspar
Purchase Price Allocation
Cash	$ 129,100	129,100	$ 129,100		129,100
Accounts receivable	817,500	817,500	817,500		817,500
Inventories	684,400	684,500	684,400		684,500
Indefinite-lived trademarks	614,300	775,900	614,300		775,900
Finite-lived intangible assets	4,922,900	5,071,800	4,922,900		5,071,800
Goodwill	5,888,800	5,675,200	5,888,800		5,675,200
Property, plant and equipment	840,700	833,000	840,700		833,000
All other assets	235,100	231,100	235,100		231,100
Accounts payable	(553,200)	(553,200)	(553,200)		(553,200)
Long-term debt	(1,603,500)	(1,603,500)	(1,603,500)		(1,603,500)
Deferred taxes	(1,915,900)	(2,028,900)	(1,915,900)		(2,028,900)
All other liabilities	(1,120,800)	(1,093,100)	(1,120,800)		(1,093,100)
Total	8,939,400	8,939,400	8,939,400		$ 8,939,400
Total, net of cash	$ 8,810,300	$ 8,810,300
Measurement Period Adjustments
Cash
Accounts receivable
Inventories			(100)
Indefinite-lived trademarks			(161,600)
Finite-lived intangible assets			(148,900)
Goodwill			213,600
Property, plant and equipment			7,700
All other assets			4,000
Accounts payable
Long-term debt
Deferred taxes			113,000
All other liabilities			(27,700)
Total			0
Total, net of cash

Goodwill, Intangible and Long_3

Goodwill, Intangible and Long-Lived Assets - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2018	Jun. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of long-lived assets				$ 0	$ 0	$ 0
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 6,814,345,000	$ 1,126,892,000	$ 6,956,702,000	6,814,345,000	1,126,892,000	1,143,333,000
Impairment of goodwill					10,455,000
Impairment of goodwill and trademarks				2,022,000	10,688,000
Amortization of finite-lived intangible assets for the next five years:
2,019			306,227,000
2,020			305,820,000
2,021			303,348,000
2,022			302,359,000
2,023			298,047,000
The Americas Group
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill	2,555,609,000	285,410,000	2,256,554,000	2,555,609,000	285,410,000	$ 295,052,000
Impairment of intangible assets		10,455,000
Impairment of goodwill			$ 0		$ 10,455,000
Trademarks | The Americas Group
Acquired Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets	2,022,000
Impairment of goodwill		$ 233,000
Valspar
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill	5,675,200,000			5,675,200,000			$ 5,888,800,000
Indefinite-lived trademarks recognized	775,900,000			775,900,000			614,300,000
Acquired Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets recognized	$ 5,071,800,000			$ 5,071,800,000			4,922,900,000
Valspar | The Americas Group
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill								$ 2,000,000,000
Valspar | Trademarks
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived trademarks recognized							$ 614,300,000

Goodwill, Intangible and Long_4

Goodwill, Intangible and Long-Lived Assets - Summary of Changes in the Carrying Value of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Carrying value of goodwill by reportable operating segment
Balance	$ 6,814,345	$ 1,126,892	$ 1,143,333
Acquisition adjustments	213,594	5,675,244
Impairment charged to operations			(10,455)
Currency and other adjustments	(71,237)	12,209	(5,986)
Balance	6,956,702	6,814,345	1,126,892
Accumulated impairment losses	19,359	19,359	19,359	$ 8,904
The Americas Group
Carrying value of goodwill by reportable operating segment
Balance	2,555,609	285,410	295,052
Acquisition adjustments	(273,922)	2,276,127
Impairment charged to operations	0		(10,455)
Currency and other adjustments	(25,133)	(5,928)	813
Balance	2,256,554	2,555,609	285,410
Accumulated impairment losses	10,455	10,455	10,455
Consumer Brands Group
Carrying value of goodwill by reportable operating segment
Balance	2,233,241	699,874	701,071
Acquisition adjustments	(413,248)	1,473,239
Impairment charged to operations
Currency and other adjustments	(66,124)	60,128	(1,197)
Balance	1,753,869	2,233,241	699,874
Accumulated impairment losses	8,113	8,113	8,113	8,113
Performance Coatings Group
Carrying value of goodwill by reportable operating segment
Balance	2,025,495	141,608	147,210
Acquisition adjustments	900,764	1,925,878
Impairment charged to operations
Currency and other adjustments	20,020	(41,991)	(5,602)
Balance	2,946,279	2,025,495	141,608
Accumulated impairment losses	$ 791	$ 791	$ 791	$ 791

Goodwill, Intangible and Long_5

Goodwill, Intangible and Long-Lived Assets - Summary of the Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Carrying value of intangible assets
Weighted-average amortization period	17 years	17 years	10 years
Gross	$ 5,314,208	$ 5,630,134	$ 458,170
Accumulated amortization	(846,776)	(555,437)	(343,952)
Net value	4,467,432	5,074,697	114,218
Trademarks With Indefinite Lives	734,147	927,664	140,792
Total Intangible Assets	$ 5,201,579	$ 6,002,361	$ 255,010
Software
Carrying value of intangible assets
Weighted-average amortization period	7 years	7 years	7 years
Gross	$ 165,198	$ 165,019	$ 144,557
Accumulated amortization	(127,303)	(116,621)	(103,735)
Net value	$ 37,895	$ 48,398	40,822
Customer Relationships
Carrying value of intangible assets
Weighted-average amortization period	15 years	15 years
Gross	$ 3,103,665	$ 3,361,675
Accumulated amortization	(326,333)	(129,568)
Net value	$ 2,777,332	$ 3,232,107	0
Intellectual Property
Carrying value of intangible assets
Weighted-average amortization period	20 years	20 years
Gross	$ 1,730,337	$ 1,774,000
Accumulated amortization	(136,985)	(51,742)
Net value	$ 1,593,352	$ 1,722,258	$ 0
All Other
Carrying value of intangible assets
Weighted-average amortization period	13 years	13 years	11 years
Gross	$ 315,008	$ 329,440	$ 313,613
Accumulated amortization	(256,155)	(257,506)	(240,217)
Net value	$ 58,853	$ 71,934	$ 73,396

Exit or Disposal Activities - N

Exit or Disposal Activities - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)storebranch	Dec. 31, 2017USD ($)storebranch	Dec. 31, 2016USD ($)	Dec. 31, 2016store	Dec. 31, 2016facility	Dec. 31, 2016branch
Exit or Disposal Activities (Textual) [Abstract]
Accruals for exit and disposal activities acquired		$ 4,456
Provisions for severance and other qualified exit costs	$ 14,923	50,503	$ 3,038
Facilities, Stores, and Branches Closed Prior to 2018
Exit or Disposal Activities (Textual) [Abstract]
Provisions for severance and other qualified exit costs	612
Facilities, Stores, and Branches Closed Prior to 2017
Exit or Disposal Activities (Textual) [Abstract]
Provisions for severance and other qualified exit costs		3,052
Facilities, Stores, and Branches Closed Prior to 2016
Exit or Disposal Activities (Textual) [Abstract]
Provisions for severance and other qualified exit costs			1,513
Valspar
Exit or Disposal Activities (Textual) [Abstract]
Accruals for exit and disposal activities acquired		4,456
Administrative
Exit or Disposal Activities (Textual) [Abstract]
Provisions for severance and other qualified exit costs	$ 12,251	$ 47,308
The Americas Group
Exit or Disposal Activities (Textual) [Abstract]
Number of stores closed | store	15	13		16
Performance Coatings Group
Exit or Disposal Activities (Textual) [Abstract]
Number of branches closed	11	2			2	13
Provisions for severance and other qualified exit costs	$ 2,672	$ 143	505
Consumer Brands Group
Exit or Disposal Activities (Textual) [Abstract]
Provisions for severance and other qualified exit costs			$ 1,020

Exit or Disposal Activities - S

Exit or Disposal Activities - Summary of the Activity and Remaining Liabilities Associated with Qualified Exit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	$ 13,385	$ 3,848	$ 7,077
Acquired Balances		4,456
Provisions in Cost of goods sold or SG&A	14,923	50,503	3,038
Actual expenditures charged to accrual	(21,256)	(45,422)	(6,267)
Balance	7,052	13,385	3,848
Facilities Shutdown Prior to 2016
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A			1,513
Facilities Shutdown Prior to 2016 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	1,558
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual	(818)
Balance	740	1,558
Facilities Shutdown Prior to 2015 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	1,546	1,908
Acquired Balances
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual		(362)
Balance		1,546	1,908
Facilities Shutdown Prior to 2014 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		1,210	1,755
Provisions in Cost of goods sold or SG&A			103
Actual expenditures charged to accrual			(648)
Balance			1,210
Performance Coatings Group
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	2,672	143	505
Performance Coatings Group | Facilities Shutdown in 2018 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance
Provisions in Cost of goods sold or SG&A	13
Actual expenditures charged to accrual	(13)
Balance	0
Performance Coatings Group | Facilities Shutdown in 2018 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance
Provisions in Cost of goods sold or SG&A	2,047
Actual expenditures charged to accrual	(1,426)
Balance	621
Performance Coatings Group | Branches Shutdown in 2017 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	14
Provisions in Cost of goods sold or SG&A	274
Actual expenditures charged to accrual	(235)
Balance	53	14
Performance Coatings Group | Branches Shutdown in 2017 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	121
Provisions in Cost of goods sold or SG&A	338
Actual expenditures charged to accrual	(224)
Balance	235	121
Performance Coatings Group | Stores Shutdown in 2016 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	0	136
Acquired Balances
Provisions in Cost of goods sold or SG&A			136
Actual expenditures charged to accrual		(136)
Balance		0	136
Performance Coatings Group | Stores Shutdown in 2016 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	111	269
Acquired Balances
Provisions in Cost of goods sold or SG&A		97	369
Actual expenditures charged to accrual		(255)	(100)
Balance		111	269
Performance Coatings Group | Branches Shutdown in 2016 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual
Balance	0
Performance Coatings Group | Branches Shutdown in 2016 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	111
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual	(77)
Balance	34	111
Performance Coatings Group | Stores Shutdown in 2017 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	14
Acquired Balances
Provisions in Cost of goods sold or SG&A		14
Actual expenditures charged to accrual
Balance		14
Performance Coatings Group | Stores Shutdown in 2017 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	121
Acquired Balances
Provisions in Cost of goods sold or SG&A		129
Actual expenditures charged to accrual		(8)
Balance		121
Performance Coatings Group | Stores Shutdown in 2015 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		0	1,096
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual			(1,096)
Balance			0
Performance Coatings Group | Stores Shutdown in 2015 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		433	2,750
Provisions in Cost of goods sold or SG&A			499
Actual expenditures charged to accrual			(2,816)
Balance			433
Performance Coatings Group | Exit of Business in 2014 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		0	430
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual			(430)
Balance			0
Performance Coatings Group | Exit of Business in 2014 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		183	353
Provisions in Cost of goods sold or SG&A			430
Actual expenditures charged to accrual			(600)
Balance			183
Consumer Brands Group
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A			1,020
Consumer Brands Group | Stores Shutdown in 2016 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	21
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual	(21)
Balance	0	21
Consumer Brands Group | Facilities Shutdown in 2016 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	21	907
Acquired Balances
Provisions in Cost of goods sold or SG&A		2,910	1,020
Actual expenditures charged to accrual		(3,796)	(113)
Balance		21	907
Consumer Brands Group | Stores Shutdown in 2015 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	12	433
Acquired Balances
Provisions in Cost of goods sold or SG&A		25
Actual expenditures charged to accrual		(446)
Balance		12	433
Consumer Brands Group | Facilities Shutdown in 2014 | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		399	445
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual			(46)
Balance			399
Consumer Brands Group | Facilities Shutdown in 2014 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		13	52
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual			(39)
Balance			13
The Americas Group | Stores Shutdown in 2015 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	0	195	12
Acquired Balances
Provisions in Cost of goods sold or SG&A		20	481
Actual expenditures charged to accrual		(215)	(298)
Balance		0	195
The Americas Group | Stores Shutdown in 2014 | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance		103	184
Provisions in Cost of goods sold or SG&A
Actual expenditures charged to accrual			(81)
Balance			103
Administrative
Summary of activity and remaining liabilities associated with qualified exit costs
Provisions in Cost of goods sold or SG&A	12,251	47,308
Administrative | Acquisition-Related Restructuring | Severance and Related Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	6,019
Acquired Balances		3,303
Provisions in Cost of goods sold or SG&A	12,043	38,739
Actual expenditures charged to accrual	(16,939)	(36,023)
Balance	1,123	6,019
Administrative | Acquisition-Related Restructuring | Other Qualified Exit Costs
Summary of activity and remaining liabilities associated with qualified exit costs
Balance	5,541
Acquired Balances		1,153
Provisions in Cost of goods sold or SG&A	208	8,569
Actual expenditures charged to accrual	(1,503)	(4,181)
Balance	$ 4,246	$ 5,541

Pension, Health Care and Post_3

Pension, Health Care and Postretirement Benefits Other Than Pensions - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)pension_planemployeeshares	Dec. 31, 2017USD ($)employee	Dec. 31, 2016USD ($)employee	Dec. 31, 2015USD ($)
Minimum | Equity Securities
Expected defined benefit payments
Target allocation percentage of plan assets in equity securities		35.00%
Minimum | Fixed Income Securities
Expected defined benefit payments
Target allocation percentage of plan assets in equity securities		35.00%
Maximum | Equity Securities
Expected defined benefit payments
Target allocation percentage of plan assets in equity securities		65.00%
Maximum | Fixed Income Securities
Expected defined benefit payments
Target allocation percentage of plan assets in equity securities		55.00%
Postretirement Health Coverage
Health care plans
Number of active employees entitled to receive benefits under health care plans | employee		26,323	26,565	22,708
Cost of benefits includes claims incurred and claims incurred but not reported under health care plans		$ 298,800	$ 281,158	$ 220,589
Defined Benefit Pension
Defined benefit pension plans
Fair value of plan assets		864,151	935,081	701,791
Expected defined benefit payments
Expected cash payments, 2019		49,259
Expected cash payments, 2020		46,809
Expected cash payments, 2021		46,469
Expected cash payments, 2022		46,104
Expected cash payments, 2023		46,532
Expected cash payments, 2024-2028		226,112
Amortization of actuarial losses		1,033
Amortization of prior service cost (credit)		1,397
Defined Benefit Pension | Domestic Defined Benefit Pension Plans
Defined contribution pension plans
Contributions by company		65,220	38,426	36,731
Defined benefit pension plans
Settlement charge		37,648	(1,990)
Projected benefit obligation		524,675	916,175	632,797	$ 624,791
Fair value of plan assets		776,961	1,188,638	847,013	858,605
Excess (deficient) plan assets over projected benefit obligations		252,286	272,463	214,216
Accumulated benefit obligation		$ 520,958	913,363	630,159
Expected defined benefit payments
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		$ 118,038
Share equity investments in the domestic defined benefit pension plan assets (percentage)		15.20%
Dividends received on the common stock		$ 1,032
Defined Benefit Pension | Domestic Defined Benefit Pension Plans | Minimum
Defined contribution pension plans
Contributions by company (percentage)		2.00%
Defined Benefit Pension | Domestic Defined Benefit Pension Plans | Maximum
Defined contribution pension plans
Contributions by company (percentage)		7.00%
Defined Benefit Pension | Domestic Defined Benefit Pension Plans | Forecast | Minimum
Defined benefit pension plans
Settlement charge	$ 30,000
Defined Benefit Pension | Domestic Defined Benefit Pension Plans | Forecast | Maximum
Defined benefit pension plans
Settlement charge	$ 40,000
Defined Benefit Pension | Foreign Defined Benefit Pension Plans
Defined contribution pension plans
Contributions by company		$ 19,462	10,480	6,676
Defined benefit pension plans
Settlement charge		(374)	71	4,231
Projected benefit obligation		315,845	349,597	206,873	201,854
Fair value of plan assets		253,566	280,004	165,008	162,339
Excess (deficient) plan assets over projected benefit obligations		$ (62,279)	(69,593)	(41,865)
Number of defined benefit plans | pension_plan		31
Accumulated benefit obligation		$ 280,046	308,164	172,047
Expected defined benefit payments
Estimated future employer contributions		$ 5,295
Defined Benefit Pension | Foreign Defined Benefit Pension Plans | Valspar
Defined benefit pension plans
Number of defined benefit plans | pension_plan		12
Defined Benefit Pension | Overfunded Plan | Domestic Defined Benefit Pension Plans
Defined benefit pension plans
Projected benefit obligation		$ 524,675	916,175	632,797
Fair value of plan assets		776,961	1,188,638	847,013
Excess (deficient) plan assets over projected benefit obligations		252,286	272,463	214,216
Defined Benefit Pension | Unfunded Plan | Foreign Defined Benefit Pension Plans
Defined benefit pension plans
Projected benefit obligation		199,881
Fair value of plan assets		119,232
Excess (deficient) plan assets over projected benefit obligations		$ (80,649)
Number of foreign defined benefit pension plans unfunded or underfunded | pension_plan		24
Accumulated benefit obligation		$ 168,395
Postretirement Benefits Other than Pensions
Defined benefit pension plans
Settlement charge			(9,332)
Projected benefit obligation		274,634	$ 290,823	$ 265,137	$ 263,383
Expected defined benefit payments
Expected cash payments, 2019		17,013
Expected cash payments, 2020		18,757
Expected cash payments, 2021		19,391
Expected cash payments, 2022		19,969
Expected cash payments, 2023		19,991
Expected cash payments, 2024-2028		98,836
Amortization of actuarial losses		535
Amortization of prior service cost (credit)		$ (4,997)
Number of retired employees entitled to receive postretirement benefits | employee		2,987	3,486	4,524
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		2,026

Pension, Health Care and Post_4

Pension, Health Care and Postretirement Benefits Other Than Pensions - Summary of the Components of the Net Pension Costs and Cumulative Other Comprehensive Loss Related to the Defined Benefit Pension Plans (Details) - Defined Benefit Pension - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Domestic Defined Benefit Pension Plans
Net pension cost (credit):
Service cost	$ 7,259	$ 21,711	$ 22,291
Interest cost	32,161	31,085	26,498
Expected return on plan assets	(53,005)	(48,275)	(50,197)
Amortization of prior service cost	3,530	1,362	1,205
Amortization of actuarial losses		6,210	4,532
Ongoing pension cost (credit)	(10,055)	12,093	4,329
Settlement cost (credit)	37,648	(1,990)
Curtailment cost	825
Net pension cost	28,418	10,103	4,329
Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes):
Net actuarial losses (gains) arising during the year	29,927	(65,829)	18,926
Prior service cost arising during the year	4,577	844	2,081
Amortization of actuarial losses		(6,210)	(4,532)
Amortization of prior service cost	(3,530)	(1,362)	(1,205)
(Loss) gain recognized for settlement	(37,648)	1,990
Prior service cost recognized for curtailment	(825)
Loss arising from curtailment	(742)
Exchange rate (loss) gain recognized during the year
Total recognized in Cumulative other comprehensive loss	(8,241)	(70,567)	15,270
Total recognized in net pension cost and Cumulative other comprehensive loss	20,177	(60,464)	19,599
Foreign Defined Benefit Pension Plans
Net pension cost (credit):
Service cost	8,160	7,039	4,225
Interest cost	9,486	8,177	7,441
Expected return on plan assets	(10,837)	(9,070)	(6,915)
Amortization of prior service cost
Amortization of actuarial losses	1,518	1,833	1,540
Ongoing pension cost (credit)	8,327	7,979	6,291
Settlement cost (credit)	(374)	71	4,231
Net pension cost	7,953	8,050	10,522
Other changes in plan assets and projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes):
Net actuarial losses (gains) arising during the year	(5,107)	(13,960)	17,030
Prior service cost arising during the year
Amortization of actuarial losses	(1,518)	(1,833)	(1,540)
Amortization of prior service cost
(Loss) gain recognized for settlement	374	(71)
Exchange rate (loss) gain recognized during the year	(1,890)	4,133	(11,627)
Total recognized in Cumulative other comprehensive loss	(8,141)	(11,731)	3,863
Total recognized in net pension cost and Cumulative other comprehensive loss	$ (188)	$ (3,681)	$ 14,385

Pension, Health Care and Post_5

Pension, Health Care and Postretirement Benefits Other Than Pensions - Summary of the Fair Value of the Defined Benefit Pension Plan Assets (Details) - Defined Benefit Pension - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	$ 864,151	$ 935,081	$ 701,791
Total investments	1,030,527	1,468,642	1,012,021
Fair Value Measured at NAV or Equivalent
Defined Benefit Plan Disclosure [Line Items]
Investments measured at NAV or its equivalent	166,376	533,561	310,230
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	586,759	556,727	465,820
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	277,392	378,354	235,971
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy
Equity investments
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	215,812	514,983	393,045
Equity investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	123,982	409,911	321,152
Equity investments | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	91,830	105,072	71,893
Equity investments | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy
Fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	609,926	380,902	294,103
Fixed income investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	462,777	146,816	144,668
Fixed income investments | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	147,149	234,086	149,435
Fixed income investments | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy
Other assets
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	38,413	39,196	14,643
Other assets | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy
Other assets | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy	38,413	39,196	14,643
Other assets | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Investments in fair value hierarchy

Pension, Health Care and Post_6

Pension, Health Care and Postretirement Benefits Other Than Pensions - Summary of the Obligations, Plan Assets and Assumptions Used for Defined Benefit Pension Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets and liabilities recognized in the Consolidated Balance Sheets:
Deferred pension assets	$ 270,664	$ 296,743	$ 225,529
Other accruals	(1,141,083)	(972,651)	(578,547)
Other long-term liabilities	(1,009,237)	(684,442)	(509,345)
Defined Benefit Pension
Plan assets:
Balances at beginning of year	935,081	701,791
Balances at end of year	864,151	935,081	701,791
Defined Benefit Pension | Domestic Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations at end of year	520,958	913,363	630,159
Projected benefit obligations:
Balances at beginning of year	916,175	632,797	624,791
Service cost	7,259	21,711	22,291
Interest cost	32,161	31,085	26,498
Actuarial (gains) losses	(13,552)	67,945	8,132
Acquisition		246,894
Contributions and other	3,834	844	2,081
Settlements	(379,064)	(43,381)
Effect of foreign exchange
Benefits paid	(42,138)	(41,720)	(50,996)
Balances at end of year	524,675	916,175	632,797
Plan assets:
Balances at beginning of year	1,188,638	847,013	858,605
Actual returns on plan assets	9,525	182,049	39,404
Acquisition		244,677
Contributions and other
Settlements	(379,064)	(43,381)
Effect of foreign exchange
Benefits paid	(42,138)	(41,720)	(50,996)
Balances at end of year	776,961	1,188,638	847,013
Excess (deficient) plan assets over projected benefit obligations	252,286	272,463	214,216
Assets and liabilities recognized in the Consolidated Balance Sheets:
Deferred pension assets	252,286	272,463	214,216
Other accruals
Other long-term liabilities
Total	252,286	272,463	214,216
Amounts recognized in Cumulative other comprehensive loss:
Net actuarial losses	(56,335)	(64,799)	(134,847)
Prior service costs	(5,719)	(5,496)	(6,015)
Total amounts recognized	$ (62,054)	$ (70,295)	$ (140,862)
Weighted-average assumptions used to determine projected benefit obligations:
Discount rate	3.60%	3.60%	4.20%
Rate of compensation increase (percentage)	3.17%	3.33%	3.38%
Weighted-average assumptions used to determine net pension costs:
Discount rate	3.60%	4.15%	4.40%
Expected long-term rate of return on assets (percentage)	5.00%	5.00%	6.00%
Rate of compensation increase (percentage)	3.33%	3.30%	3.14%
Defined Benefit Pension | Foreign Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations at end of year	$ 280,046	$ 308,164	$ 172,047
Projected benefit obligations:
Balances at beginning of year	349,597	206,873	201,854
Service cost	8,160	7,039	4,225
Interest cost	9,486	8,177	7,441
Actuarial (gains) losses	(20,958)	(4,002)	43,736
Acquisition		115,045
Contributions and other	1,572	1,397	947
Settlements	(6,319)	(758)	(14,862)
Effect of foreign exchange	(16,226)	22,938	(30,360)
Benefits paid	(9,467)	(7,112)	(6,108)
Balances at end of year	315,845	349,597	206,873
Plan assets:
Balances at beginning of year	280,004	165,008	162,339
Actual returns on plan assets	(4,896)	16,282	33,569
Acquisition		82,314
Contributions and other	8,278	6,048	15,019
Settlements	(6,319)	(758)	(14,862)
Effect of foreign exchange	(14,034)	18,222	(24,949)
Benefits paid	(9,467)	(7,112)	(6,108)
Balances at end of year	253,566	280,004	165,008
Excess (deficient) plan assets over projected benefit obligations	(62,279)	(69,593)	(41,865)
Assets and liabilities recognized in the Consolidated Balance Sheets:
Deferred pension assets	18,378	24,280	11,313
Other accruals	(2,716)	(2,523)	(1,522)
Other long-term liabilities	(77,941)	(91,350)	(51,656)
Total	(62,279)	(69,593)	(41,865)
Amounts recognized in Cumulative other comprehensive loss:
Net actuarial losses	(25,732)	(33,873)	(45,604)
Prior service costs
Total amounts recognized	$ (25,732)	$ (33,873)	$ (45,604)
Weighted-average assumptions used to determine projected benefit obligations:
Discount rate	3.04%	2.73%	3.21%
Rate of compensation increase (percentage)	3.65%	3.69%	4.43%
Weighted-average assumptions used to determine net pension costs:
Discount rate	2.73%	3.88%	4.20%
Expected long-term rate of return on assets (percentage)	3.84%	4.75%	4.70%
Rate of compensation increase (percentage)	3.69%	4.33%	4.00%

Pension, Health Care and Post_7

Pension, Health Care and Postretirement Benefits Other Than Pensions - Summary of the Obligation and the Assumptions Used for Postretirement Benefits Other than Pensions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Liabilities recognized in the Consolidated Balance Sheets:
Postretirement benefits other than pensions	$ (257,621)	$ (274,675)	$ (250,397)
Other accruals	(1,141,083)	(972,651)	(578,547)
Postretirement Benefits Other than Pensions
Benefit obligation:
Balances at beginning of year	290,823	265,137	263,383
Service cost	1,994	2,105	2,244
Interest cost	10,178	10,749	11,009
Acquisition		17,010
Actuarial (gain) loss	(9,047)	11,637	7,548
Plan amendments	(77)
Benefits paid	(19,237)	(15,815)	(19,047)
Balances at end of year	274,634	290,823	265,137
Liabilities recognized in the Consolidated Balance Sheets:
Postretirement benefits other than pensions	(257,621)	(274,675)	(250,397)
Other accruals	(17,013)	(16,148)	(14,740)
Total liabilities recognized	(274,634)	(290,823)	(265,137)
Amounts recognized in Cumulative other comprehensive loss:
Net actuarial losses	(32,774)	(44,147)	(23,211)
Prior service credits	6,134	12,625	19,205
Total amounts recognized	$ (26,640)	$ (31,522)	$ (4,006)
Weighted-average assumptions used to determine benefit obligation:
Discount rate	4.21%	3.61%	4.10%
Health care cost trend rate - pre-65	6.69%	7.00%	6.00%
Health care cost trend rate - post-65	4.94%	5.00%	5.50%
Prescription drug cost increases	9.75%	11.00%	10.50%
Employer Group Waiver Plan (EGWP) trend rate	9.75%	11.00%	10.60%
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	3.61%	4.10%	4.30%
Health care cost trend rate - pre-65	7.00%	6.00%	6.00%
Health care cost trend rate - post-65	5.00%	5.50%	5.00%
Prescription drug cost increases	11.00%	10.50%	11.50%

Pension, Health Care and Post_8

Pension, Health Care and Postretirement Benefits Other Than Pensions - Summary of the Components of Net Periodic Benefit Cost and Cumulative Other Comprehensive Loss Related to Postretirement Benefits Other than Pensions (Details) - Postretirement Benefits Other than Pensions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net pension cost (credit):
Service cost	$ 1,994	$ 2,105	$ 2,244
Interest cost	10,178	10,749	11,009
Amortization of actuarial losses	2,326	32
Amortization of prior service credit	(6,569)	(6,579)	(6,578)
Net periodic benefit cost	7,929	6,307	6,675
Settlement credit		(9,332)
Net pension cost	7,929	(3,025)	6,675
Other changes in projected benefit obligation recognized in Cumulative other comprehensive loss (before taxes):
Net actuarial (gain) loss arising during the year	(9,047)	11,637	7,548
Prior service cost arising during the year	(78)
Amortization of actuarial losses	(2,326)	(32)
Settlement cost		9,332
Amortization of prior service credit	6,569	6,579	6,578
Total recognized in Cumulative other comprehensive loss	(4,882)	27,516	14,126
Total recognized in net pension cost and Cumulative other comprehensive loss	$ 3,047	$ 24,491	$ 20,801

Pension, Health Care and Post_9

Pension, Health Care and Postretirement Benefits Other Than Pensions - Effects of Trend Rate Changes and Future Benefit Cash Payments (Details) - Postretirement Benefits Other than Pensions $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
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	$ 132
Effect on total of service and interest cost components, one-percentage-point, decrease	(132)
Effect on the postretirement benefit obligation one-percentage-point, increase	3,602
Effect on the postretirement benefit obligation one-percentage-point, decrease	$ (3,636)

Pension, Health Care and Pos_10

Pension, Health Care and Postretirement Benefits Other Than Pensions - Expected Retiree Health Care Benefit Cash Payments (Details) - Postretirement Benefits Other than Pensions $ in Thousands	Dec. 31, 2018USD ($)
Expected Cash Payments
2,019	$ 17,013
2,020	18,757
2,021	19,391
2,022	19,969
2,023	19,991
2024 through 2028	98,836
Total expected benefit cash payments	$ 193,957

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Aug. 31, 2017	Dec. 31, 2016
Long-term debt
Long-term debt	$ 8,708,057	$ 9,885,745		$ 1,211,326
2.25% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 1,496,015	1,493,106
Interest rate	2.25%
3.45% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 1,485,023	1,483,244
Interest rate	3.45%
2.75% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 1,242,850	1,240,758
Interest rate	2.75%
4.50% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 1,229,373	1,228,647
Interest rate	4.50%
Term Loan | Term Loan
Long-term debt
Long-term debt		847,337
3.125% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 496,287	495,602
Interest rate	3.125%
4.20% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 416,815	422,370
Interest rate	4.20%
3.45% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 397,621	397,260		396,898
Interest rate	3.45%
4.55% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 394,082	393,859		393,637
Interest rate	4.55%
3.95% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 360,822	362,381
Interest rate	3.95%
7.25% Senior Notes | Senior Notes
Long-term debt
Long-term debt		319,394
Interest rate	7.25%
4.00% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 296,251	296,094		295,938
Interest rate	4.00%
Floating Rate Loan | Debentures
Long-term debt
Long-term debt	$ 257,371	269,247
3.30% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 249,304	249,207
Interest rate	3.30%
4.40% Senior Notes | Senior Notes
Long-term debt
Long-term debt	$ 238,747	238,334
Interest rate	4.40%
7.375% Debentures | Debentures
Long-term debt
Long-term debt	$ 119,029	118,982		118,936
Interest rate	7.375%
0.92% Fixed Rate Loan | Debentures
Long-term debt
Long-term debt	$ 22,877	23,933
Interest rate	0.92%		0.919%
7.45% Debentures | Debentures
Long-term debt
Long-term debt	$ 3,500	3,500		3,500
Interest rate	7.45%
2.00% to 8.0% Promissory Notes | Senior Notes | Minimum
Long-term debt
Interest rate	2.00%
2.00% to 8.0% Promissory Notes | Senior Notes | Maximum
Long-term debt
Interest rate	8.00%
2.00% to 8.0% Promissory Notes | Debentures
Long-term debt
Long-term debt	$ 2,090	$ 2,490		$ 2,417

Debt - Long-term Borrowings (De

Debt - Long-term Borrowings (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Aug. 31, 2017EUR (€)	Jun. 02, 2017USD ($)	May 16, 2017USD ($)	Apr. 30, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt maturing in 2019		$ 301,149,000
Long-term debt maturing in 2020		1,500,375,000
Long-term debt maturing in 2021		281,005,000
Long-term debt maturing in 2022		1,650,268,000
Long-term debt maturing in 2023		272,000
Interest expense on long-term debt		343,119,000	$ 257,350,000	$ 75,509,000
Interest Expense
Debt Instrument [Line Items]
Reduction in interest expense due to amortization of unrealized gain		$ 8,300,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Contract
Debt Instrument [Line Items]
Derivative pretax gain recognized in OCI	$ 87,600,000
Bridge Loan | Committed Acquisition Financing
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 7,300,000,000
Senior Notes | New Notes
Debt Instrument [Line Items]
Long-term debt issued							$ 6,000,000,000
Senior Notes | Exchange Notes
Debt Instrument [Line Items]
Long-term debt issued						$ 1,478,000,000
Debentures | Floating Rate Loan
Debt Instrument [Line Items]
Long-term debt issued | €					€ 225,000,000
Debentures | 0.92% Fixed Rate Loan
Debt Instrument [Line Items]
Long-term debt issued | €					€ 20,000,000
Interest rate		0.92%			0.919%
Term Loan | Committed Acquisition Financing
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 2,000,000,000

Debt - Short-term Borrowings (D

Debt - Short-term Borrowings (Details)	Jul. 19, 2018USD ($)option	May 06, 2016	Sep. 30, 2017	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Short Term Debt [Line Items]
Short-term borrowings outstanding				$ 328,403,000	$ 633,731,000	$ 40,739,000
Domestic Commercial Paper Program | Commercial Paper
Short Term Debt [Line Items]
Short-term borrowings outstanding				291,400,000	274,800,000	0
Five Year Credit Agreement, July 2018 | Line of Credit
Short Term Debt [Line Items]
Debt instrument term	5 years
Maximum borrowing capacity	$ 2,000,000,000
Number of extension options | option	2
Extension term	1 year
Maximum borrowing capacity after exercising extension option	$ 2,750,000,000
Five Year Credit Agreement, July 2018 | Letter of Credit
Short Term Debt [Line Items]
Maximum borrowing capacity	$ 250,000,000
Foreign Programs
Short Term Debt [Line Items]
Short-term borrowings outstanding				$ 37,000,000
Weighted average interest rate				9.30%
Five Year Credit Agreement, September 2017 | Line of Credit
Short Term Debt [Line Items]
Maximum borrowing capacity				$ 625,000,000
Five Year Credit Agreement, September 2017 | Letter of Credit
Short Term Debt [Line Items]
Debt instrument term			5 years
Five Year Credit Agreement, May 2016 | Letter of Credit
Short Term Debt [Line Items]
Debt instrument term		5 years
Maximum borrowing capacity				875,000,000
Short-term borrowings outstanding				$ 0	$ 350,000,000	$ 0

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) $ in Thousands	Dec. 31, 2018USD ($)ManufacturingSite	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Environmental Remediation Obligations [Abstract]
Accruals for extended environmental-related activities	$ 322,459	$ 179,593	$ 163,847
Estimated costs of current investigation and remediation activities included in other accruals	51,038	$ 28,556	$ 19,969
Amount by which unaccrued maximum of estimated range exceeds minimum	$ 117,518
Number of manufacturing sites accounting for the majority of the accrual for environmental-related activities | ManufacturingSite	4
Accruals for environmental-related activities of sites accounting for the majority of the accrual for environmental-related activities	$ 326,202
Percentage of accrual for environmental-related activities related to sites accounting for the majority of the accrual for environmental-related activities	87.20%
Amount of unaccrued maximum related to sites accounting for the majority of the accrual for environmental-related activities	$ 93,191
Percentage of aggregate unaccrued maximum related to sites accounting for the majority of the accrual for environmental-related activities	79.30%

Litigation (Details)

Litigation (Details) $ in Thousands	Dec. 26, 2017defendant	Nov. 29, 2017defendant	Jan. 27, 2014USD ($)defendant	Dec. 31, 2018USD ($)plaintiffcase	Sep. 04, 2018USD ($)	Apr. 17, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Loss Contingencies [Line Items]
California litigation accrual				$ 136,333
Santa Clara County, California, Proceedings
Loss Contingencies [Line Items]
Number of additional defendants liable for damages awarded | defendant			2
Amount payable jointly and severally for litigation			$ 1,150,000
Number of additional defendants | defendant	2	2
Abatement fund amount proposed by plaintiffs						$ 730,000
Abatement fund amount proposed by defendants						$ 409,100
Court-ruled abatement fund amount					$ 409,100
Personal Injury Cases | Pending Litigation
Loss Contingencies [Line Items]
Number of cases pending | case				3
Number of plaintiff cases selected for discovery | plaintiff				6
Total number of plaintiffs | plaintiff				146

Capital Stock - Narrative (Deta

Capital Stock - Narrative (Details) - shares	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
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)	9,643,433	10,715,939	7,720,815
Common stock held in revocable trust (in shares)	489,647	489,260	488,714
2006 Employee Plan
Class of Stock [Line Items]
Common shares issuable or transferable (in shares)	23,700,000
Cumulative Preferred Stock
Class of Stock [Line Items]
Preferred stock authorized (in shares)	3,000,000
Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock authorized (in shares)	1,000,000

Capital Stock - Common Shares i

Capital Stock - Common Shares in Treasury and Common Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation Of Common Stock And Treasury Stock Balances [Roll Forward]
Balance (in shares)	93,883,645	93,013,031
Balance (in shares)	93,116,762	93,883,645	93,013,031
Treasury Stock
Reconciliation Of Common Stock And Treasury Stock Balances [Roll Forward]
Balance (in shares)	23,676,733	23,577,411	23,514,054
Shares tendered as payment for option rights exercised (in shares)	1,159	16,545	3,441
Shares tendered in connection with grants of restricted stock (in shares)	52,144	82,777	59,916
Treasury stock purchased (in shares)	(1,525,000)
Balance (in shares)	25,255,036	23,676,733	23,577,411
Common Stock
Reconciliation Of Common Stock And Treasury Stock Balances [Roll Forward]
Balance (in shares)	93,883,645	93,013,031	92,246,525
Shares tendered as payment for option rights exercised (in shares)	(1,159)	(16,545)	(3,441)
Shares issued for exercise of option rights (in shares)	661,599	1,152,015	733,876
Shares tendered in connection with grants of restricted stock (in shares)	(52,144)	(82,777)	(59,916)
Net shares issued for grants of restricted stock (in shares)	149,821		95,987
Net shares canceled of restricted stock (in shares)		(182,079)
Treasury stock purchased (in shares)	(1,525,000)
Balance (in shares)	93,116,762	93,883,645	93,013,031

Stock Purchase Plan (Details)

Stock Purchase Plan (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)employeeshares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of employees contributing to company's ESOP | employee	39,941
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	$ 170,326	$ 138,731	$ 127,697
Company's matching contributions to the ESOP	$ 104,715	$ 90,682	$ 85,525
Employee stock ownership plan common stock shares held in ESOP (in shares) | shares	9,353,926
Percentage of total voting shares outstanding held by the ESOP	10.00%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)right$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized stock-based compensation expense	$ 130,748
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	1 year 23 days
Stock-based compensation expense	$ 82,588	$ 90,292	$ 72,109
Income tax benefit related to stock-based compensation expense	$ 20,461	$ 34,343	$ 27,442
Expiration period	10 years
Award vesting period	3 years
Weighted-average per share fair value of option rights granted during the year (in dollars per share) | $ / shares	$ 90.86	$ 77.14	$ 49.36
Fair value of options vested	$ 38,580	$ 31,292	$ 32,476
Outstanding option rights (in shares) | shares	4,485,249	4,646,313	5,163,709	5,219,506
Weighted average remaining term for options outstanding	6 years 1 month 4 days	6 years 3 months 10 days	6 years 3 months 1 day
Weighted average remaining term for options exercisable	5 years 2 days	5 years 1 month 8 days	5 years 2 months 12 days
Shares reserved for future grants of option rights restricted stock (in shares) | shares	5,135,822	6,041,092	2,557,106
Employees
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Intrinsic value of exercised option rights	$ 190,227	$ 255,482	$ 129,230
Restricted Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Weighted-average fair value of restricted stock granted during the year (in dollars per share) | $ / shares	$ 404.08	$ 313.88	$ 257.99
Performance Shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Service period required for vesting of grants	3 years
Time Shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting period	3 years
Stock Option
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized stock-based compensation expense	$ 61,050
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	1 year 1 month 6 days
Estimated forfeiture rate	2.00%
Stock Option | Tranche 1
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting percentage	33.30%
Stock Option | Tranche 2
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting percentage	33.30%
Stock Option | Tranche 3
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting percentage	33.30%
Restricted Stock | Employees
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized stock-based compensation expense	$ 68,103
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	10 months 27 days
Restricted Stock | Non-Employee Directors
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized stock-based compensation expense	$ 1,595
Unrecognized stock-based compensation expense, weighted-average period recognition (in years)	10 months 18 days
Nonemployee Director Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of appreciation rights, performance shares or performance units granted | right	0
Award vesting period	3 years
Outstanding option rights (in shares) | shares	0	0	0
ASU 2016-09
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Reduction of income tax provision	$ 43,371	$ 86,540	$ 44,233
2006 Employee Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shares authorized (in shares) | shares	23,700,000
Number of appreciation rights, performance shares or performance units granted | right	0
2006 Employee Plan | Restricted Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Service period required for vesting of grants	3 years
2006 Employee Plan | Restricted Stock | Tranche 1
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting percentage	33.30%
2006 Employee Plan | Restricted Stock | Tranche 2
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting percentage	33.30%
2006 Employee Plan | Restricted Stock | Tranche 3
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award vesting percentage	33.30%
Nonemployee Director Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shares authorized (in shares) | shares	200,000

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted-Average Assumptions Used for Estimating the Fair Value of Option Rights (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	2.99%	1.97%	1.24%
Expected life of option rights	5 years 18 days	5 years 18 days	5 years 18 days
Expected dividend yield of stock	0.89%	0.85%	1.06%
Expected volatility of stock	21.10%	21.30%	21.20%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Non-Qualified and Incentive Stock Option Right Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Optioned Shares
Outstanding beginning of year (in shares)	4,646,313	5,163,709	5,219,506
Granted (in shares)	565,336	689,506	712,967
Exercised (in shares)	(662,218)	(1,154,698)	(733,876)
Forfeited (in shares)	(60,288)	(49,977)	(26,653)
Expired (in shares)	(3,894)	(2,227)	(8,235)
Outstanding end of year (in shares)	4,485,249	4,646,313	5,163,709
Exercisable at end of year (in shares)	3,274,780	3,288,237	3,783,755
Weighted- Average Exercise Price Per Share
Outstanding beginning of year (in dollars per share)	$ 204.33	$ 163.61	$ 141.58
Granted (in dollars per share)	410	377.84	271.46
Exercised (in dollars per share)	137.03	123.16	108.81
Forfeited (in dollars per share)	327.08	267.02	232.83
Expired (in dollars per share)	238.26	236.97	176.28
Outstanding end of year (in dollars per share)	238.53	204.33	163.61
Exercisable at end of year (in dollars per share)	$ 188.48	$ 156.43	$ 130.59
Aggregate Intrinsic Value
Outstanding end of year	$ 704,160	$ 955,810	$ 545,531
Exercisable at end of year	$ 671,269	$ 833,938	$ 522,921

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted Stock - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of the Company's restricted stock activity
Outstanding at beginning of year (in shares)	335,796	397,326	467,744
Vested (in shares)	(150,576)	(215,433)	(166,405)
Forfeited (in shares)	(11,454)	(9,753)	(3,675)
Outstanding at end of year (in shares)	290,402	335,796	397,326
2006 Employee and 2006 Director Plans
Summary of the Company's restricted stock activity
Granted (in shares)	116,636	112,647	99,662
Valspar Plan
Summary of the Company's restricted stock activity
Granted (in shares)		51,009

Other - Other General Expense,

Other - Other General Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Income and Expenses [Abstract]
Provisions for environmental matters - net	$ 135,904	$ 176,297	$ 15,443	$ 42,932
Loss (gain) on sale or disposition of assets		12,825	5,422	(30,564)
Total		$ 189,122	$ 20,865	$ 12,368

Other - Other (Income) Expense,

Other - Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Income and Expenses [Abstract]
Dividend and royalty income	$ (4,276)	$ (7,648)	$ (4,573)
Net expense from financing activities	9,658	9,843	8,667
Foreign currency transaction related losses	7,532	450	7,335
Domestic pension plan settlement expense	37,648
Miscellaneous pension income	(10,761)	(15,728)	(7,236)
Other income	(32,219)	(32,570)	(25,279)
Other expense	12,535	12,951	9,263
Total	$ 20,117	$ (32,702)	$ (11,823)

Other - Narrative (Details)

Other - Narrative (Details)	Dec. 31, 2018contractoption_plan	Dec. 31, 2017contractoption_plan	Dec. 31, 2016contractoption_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

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Business Acquisition [Line Items]
Provisional reduction of income taxes					$ 607,919
Reduction of deferred tax liability due to lower income tax rate					560,198
Effect of the implementation of the territorial tax system and remeasurement of deferred tax liabilities					47,721
Provisional reduction of income taxes		$ 668,779	$ (250,904)	[1]	300,178	[1]	$ (462,530)	[1]
Valuation reserves for other deferred tax assets		44,101	73,543		44,101		17,292
Income tax benefit related to foreign derived intangible income			8,590
Income tax expense related to Global Intangible Low Taxed Income			5,515
Unrecognized tax benefits recorded as a part of the Valspar acquisition			12,396		18,928
Unrecognized tax benefits adjusted		49,520	82,960		49,520		27,686
Amount of unrecognized tax benefits where significant change is reasonably possible			14,509
Income tax interest and penalties			4,899		(790)		1,410
Accrued income tax interest and penalties		$ 14,592	24,757		14,592		$ 9,275
Change in Inventory Accounting Principle
Business Acquisition [Line Items]
Provisional reduction of income taxes					7,853
Provisional reduction of income taxes					$ 14,595
2010, 2011 and 2012 Tax Years
Business Acquisition [Line Items]
Tax and interest receivable related to refund claims			5,000
Domestic
Business Acquisition [Line Items]
Net operating loss carryforward			23,210
Foreign
Business Acquisition [Line Items]
Net operating loss carryforward			340,007
Foreign tax credits			18,781
Valspar
Business Acquisition [Line Items]
Provisional reduction of income taxes	$ 27,455
Valspar | 2014 Tax Year
Business Acquisition [Line Items]
Tax and interest receivable related to refund claims			$ 5,426
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit), Continuing Operations, Discontinued Operations	$ 250,904	$ (258,638)	$ 462,530
Deferred tax assets:
Exit costs, environ-mental and other similar items	84,517	50,193	74,535
Employee related and benefit items	96,963	104,098	166,313
Other items	161,578	113,184	148,910
Total deferred tax assets	343,058	267,475	389,758
Deferred tax liabilities:
Depreciation and amortization	1,303,620	1,506,650	254,430
LIFO inventories	64,502	66,580	83,659
Other items	29,464	49,670	59,746
Total deferred tax liabilities	1,397,586	1,622,900	397,835
Net deferred tax liabilities	$ 1,054,528	$ 1,355,425	$ 8,077

Income Taxes - Significant Co_2

Income Taxes - Significant Components of the Provisions for Income Taxes (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal		$ 288,755	$ 269,330	$ 438,244
Foreign		53,155	53,442	31,125
State and local		52,372	39,320	61,402
Total current		394,282	362,092	530,771
Deferred:
Federal		(102,149)	(486,669)	(56,891)
Foreign		(35,276)	(42,292)	(2,121)
State and local		(5,953)	(91,769)	(9,229)
Total deferred	[1]	(143,378)	(620,730)	(68,241)
Total provisions (credits) for income taxes		$ 250,904	$ (258,638)	$ 462,530
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Income Taxes - Significant Co_3

Income Taxes - Significant Components of Income Before Income Taxes as Used for Income Tax Purposes (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components of income before income taxes as used for income tax purposes
Domestic		$ 1,309,279	$ 1,415,572	$ 1,504,990
Foreign		50,371	53,738	90,243
Income from continuing operations before income taxes	[1]	$ 1,359,650	$ 1,469,310	$ 1,595,233
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Statutory Federal Income Tax Rate to the Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of the statutory federal income tax rate to the effective tax rate
Statutory federal income tax rate	21.00%	35.00%	35.00%
Effect of:
State and local income taxes	3.20%	2.10%	2.30%
Investment vehicles	(1.20%)	(1.40%)	(1.50%)
Domestic production activities		(3.10%)	(2.90%)
Employee share-based payments	(3.20%)	(5.90%)	(2.80%)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent	(1.30%)	(0.90%)	(0.20%)
Effective Income Tax Rate Reconciliation, Amended Returns And Refunds, Percent	(1.60%)	(0.90%)
Other - net	(0.30%)	(0.40%)	(0.90%)
Pre-adjusted effective tax rate	16.60%	24.50%	29.00%
Effect of:
Tax Act	1.90%	(40.80%)
Subsidiary mergers		(4.20%)
Post-adjusted effective tax rate	18.50%	(20.50%)	29.00%

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of unrecognized tax benefits
Balance at beginning of year	$ 59,001	$ 32,805	$ 33,873
Additions from the Acquisition	12,396	18,928
Additions based on tax positions related to the current year	12,890	6,780	5,674
Additions for tax positions of prior years	10,968	4,033	3,890
Reductions for tax positions of prior years	(1,993)	(1,168)	(5,901)
Settlements	(1,380)	(368)	(3,763)
Lapses of statutes of limitations	(2,393)	(2,009)	(968)
Balance at end of year	$ 89,489	$ 59,001	$ 32,805

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, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Basic
Average common shares outstanding (in shares)										92,992,457		92,908,638		91,838,603
Continuing operations										$ 1,108,746		$ 1,769,488		$ 1,132,703
Discontinued operations												(41,540)
Net income		$ 100,988	$ 354,027	$ 403,604	$ 250,127	$ 853,079	$ 316,606	$ 319,111	$ 239,152	$ 1,108,746	[1],[2],[3]	$ 1,727,948	[1],[2],[3]	$ 1,132,703	[1],[2],[3]
Basic net income per share
Continuing operations (in dollars per share)	[2]									$ 11.92		$ 19.04		$ 12.33
Discontinued operations (in dollars per share)												(0.44)
Net income per common share - basic (in dollars per share)		$ 1.09	$ 3.80	$ 4.34	$ 2.68	$ 9.14	$ 3.40	$ 3.44	$ 2.58	$ 11.92	[2]	$ 18.60	[2]	$ 12.33	[2]
Diluted
Average common shares outstanding (in shares)										92,992,457		92,908,638		91,838,603
Stock options and other contingently issuable shares (in shares)										1,938,586		1,931,157		2,089,921
Non-vested restricted stock grants (in shares)										57,027		87,418		559,562
Average common shares outstanding assuming dilution (in shares)										94,988,070		94,927,213		94,488,086
Diluted net income per share
Continuing operations (in dollars per share)	[2]									$ 11.67		$ 18.64		$ 11.99
Discontinued operations (in dollars per share)												(0.44)
Net income per common share - diluted (in dollars per share)		$ 1.07	$ 3.72	$ 4.25	$ 2.62	$ 8.92	$ 3.33	$ 3.36	$ 2.53	$ 11.67	[2]	$ 18.20	[2]	$ 11.99	[2]
Net Income Per Common Share (Textual) [Abstract]
Anti-dilutive shares (in shares)										28,321		638,795		62,935
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Summary of Quarterly Results _3

Summary of Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Selected Quarterly Financial Information [Abstract]
Net sales	$ 4,064,221	$ 4,731,470	$ 4,773,796	$ 3,965,006	$ 3,979,564	$ 4,507,020	$ 3,735,817	$ 2,761,387	$ 17,534,493		$ 14,983,788		$ 11,855,602
Gross profit	1,682,683	2,010,404	2,038,628	1,686,847	1,739,303	1,901,827	1,734,617	1,343,053	7,418,562	[1],[2]	6,718,800	[1],[2]	5,921,258	[1],[2]
Net income	$ 100,988	$ 354,027	$ 403,604	$ 250,127	$ 853,079	$ 316,606	$ 319,111	$ 239,152	$ 1,108,746	[1],[3],[4]	$ 1,727,948	[1],[3],[4]	$ 1,132,703	[1],[3],[4]
Net income per common share - basic (in dollars per share)	$ 1.09	$ 3.80	$ 4.34	$ 2.68	$ 9.14	$ 3.40	$ 3.44	$ 2.58	$ 11.92	[1]	$ 18.60	[1]	$ 12.33	[1]
Net income per common share - diluted (in dollars per share)	$ 1.07	$ 3.72	$ 4.25	$ 2.62	$ 8.92	$ 3.33	$ 3.36	$ 2.53	$ 11.67	[1]	$ 18.20	[1]	$ 11.99	[1]
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	The years ended December 31, 2017 and 2016 have been adjusted for the adoption of ASU No. 2017-07.
[3]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[4]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Summary of Quarterly Results _4

Summary of Quarterly Results of Operations (Unaudited) - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Quarterly Financial Data [Abstract]
Provisions for environmental-related matters	$ 135,904		$ 176,297		$ 15,443		$ 42,932
Settlement expense			37,648
Income tax benefit		$ (668,779)	$ 250,904	[1]	$ (300,178)	[1]	$ 462,530	[1]
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.

Operating Leases - Narrative (D

Operating Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Leases (Textual) [Abstract]
Rental expenses	$ 552,658	$ 464,616	$ 417,549
Contingent rental included in rent expense	68,180	63,300	58,865
Proceeds from sale and leaseback of real estate properties	225,345
Future obligations under sale and leaseback financing transaction	$ 225,914

Operating Leases - Future Minim

Operating Leases - Future Minimum Lease Payments Under Noncancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Future minimum lease payments under noncancellable operating leases
2,019	$ 412,211
2,020	369,570
2,021	306,994
2,022	245,437
2,023	179,892
Later years	392,423
Total minimum lease payments	$ 1,906,527

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts and Reserves (Schedule II) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 52,997	$ 40,450	$ 49,420
Bad debt expense	38,240	42,716	29,869
Uncollectible accounts written off, net of recoveries	(45,354)	(30,169)	(38,839)
Ending balance	45,883	52,997	40,450
Deferred Tax Asset Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	44,101	17,292	12,595
Additions (deductions)	10,660	(489)	4,697
Acquired balances	18,782	27,298	0
Ending balance	$ 73,543	$ 44,101	$ 17,292

Reportable Segment Informatio_2

Reportable Segment Information - Narrative (Details) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2018USD ($)storebranchforeign_country	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)storebranchsegmentforeign_country	Dec. 31, 2017USD ($)store	Dec. 31, 2016USD ($)store
Reportable Segment Information (Textual) [Abstract]
Number of reportable operating segments | segment										3
Net external sales | $		$ 4,064,221	$ 4,731,470	$ 4,773,796	$ 3,965,006	$ 3,979,564	$ 4,507,020	$ 3,735,817	$ 2,761,387	$ 17,534,493	$ 14,983,788	$ 11,855,602
Segment profit | $	[1]									1,359,650	1,469,310	1,595,233
Long lived assets | $		14,789,793				15,492,586				14,789,793	15,492,586	3,125,222
Identifiable assets | $	[2]	$ 19,134,279				$ 19,899,517				$ 19,134,279	$ 19,899,517	$ 6,752,521
Percent of assets of consolidated foreign subsidiaries to Company's assets		25.10%				26.40%				25.10%	26.40%	18.30%
Non-US
Reportable Segment Information (Textual) [Abstract]
Net external sales | $										$ 4,027,775	$ 2,959,785	$ 1,722,246
Long lived assets | $		$ 3,289,794				$ 3,691,035				3,289,794	3,691,035	477,889
Identifiable assets | $		$ 4,809,356				$ 5,253,995				$ 4,809,356	$ 5,253,995	$ 1,233,666
The Americas Group
Reportable Segment Information (Textual) [Abstract]
Number of company-operated stores		4,696								4,696
Number of subsidiaries in foreign countries | foreign_country		10								10
Number of net new stores										76	101	142
New stores opened										91
Number of stores closed										15
Net external sales | $										$ 9,625,000	$ 9,117,000	$ 8,377,000
The Americas Group | United States
Reportable Segment Information (Textual) [Abstract]
New stores opened										74
Number of stores closed										1
The Americas Group | Canada
Reportable Segment Information (Textual) [Abstract]
New stores opened										16
Number of stores closed										2
The Americas Group | South America
Reportable Segment Information (Textual) [Abstract]
New stores opened										1
Number of stores closed										11
The Americas Group | Mexico
Reportable Segment Information (Textual) [Abstract]
Number of stores closed										1
Consumer Brands Group
Reportable Segment Information (Textual) [Abstract]
Number of subsidiaries in foreign countries | foreign_country		6								6
Percent of sales of one group including intersegment transfers represented products sold through other stores group										55.82%
Net external sales | $										$ 2,739,000	2,155,000	1,528,000
Performance Coatings Group
Reportable Segment Information (Textual) [Abstract]
Number of company-operated stores | branch		282								282
Number of subsidiaries in foreign countries | foreign_country		45								45
New stores opened | branch										3
Number of stores closed | branch										11
Net increase in stores | branch										(8)
Net external sales | $										$ 5,166,000	$ 3,706,000	$ 1,946,000
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	December 31, 2017 has been adjusted for an inventory accounting change.

Reportable Segment Informatio_3

Reportable Segment Information - Reportable Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales		$ 4,064,221	$ 4,731,470	$ 4,773,796	$ 3,965,006	$ 3,979,564	$ 4,507,020	$ 3,735,817	$ 2,761,387	$ 17,534,493	$ 14,983,788	$ 11,855,602
Segment profit										2,611,000	2,235,000	2,164,000
Interest expense										(366,734)	(263,471)	(154,088)
Administrative expenses and other										(884,000)	(503,000)	(415,000)
Income from continuing operations before income taxes	[1]									1,359,650	1,469,310	1,595,233
Identifiable assets	[2]	19,134,279				19,899,517				19,134,279	19,899,517	6,752,521
Capital expenditures										250,957	222,767	239,026
Depreciation										278,169	284,997	172,074
Amortization										318,000	207,000	25,000
Intersegment transfers
Segment Reporting Information [Line Items]
Net sales
The Americas Group
Segment Reporting Information [Line Items]
Net sales										9,625,000	9,117,000	8,377,000
The Americas Group | Intersegment transfers
Segment Reporting Information [Line Items]
Net sales										1,000	6,000	39,000
The Americas Group | Operating Segments
Segment Reporting Information [Line Items]
Net sales										9,626,000	9,123,000	8,416,000
Segment profit										1,898,000	1,769,000	1,606,000
Income from continuing operations before income taxes										$ 1,898,000	$ 1,769,000	$ 1,606,000
Reportable segment margins										19.70%	19.40%	19.10%
Identifiable assets		4,071,000				4,359,000				$ 4,071,000	$ 4,359,000	$ 2,148,000
Capital expenditures										70,000	69,000	100,000
Depreciation										72,000	75,000	76,000
Amortization										5,000	4,000	4,000
Consumer Brands Group
Segment Reporting Information [Line Items]
Net sales										2,739,000	2,155,000	1,528,000
Consumer Brands Group | Intersegment transfers
Segment Reporting Information [Line Items]
Net sales										3,460,000	3,162,000	2,775,000
Consumer Brands Group | Operating Segments
Segment Reporting Information [Line Items]
Net sales										6,199,000	5,317,000	4,303,000
Segment profit										261,000	203,000	301,000
Income from continuing operations before income taxes										$ 261,000	$ 203,000	$ 301,000
Reportable segment margins										4.20%	3.80%	7.00%
Identifiable assets		5,385,000				5,816,000				$ 5,385,000	$ 5,816,000	$ 2,005,000
Capital expenditures										96,000	95,000	99,000
Depreciation										89,000	92,000	47,000
Amortization										97,000	61,000	5,000
Performance Coatings Group
Segment Reporting Information [Line Items]
Net sales										5,166,000	3,706,000	1,946,000
Performance Coatings Group | Intersegment transfers
Segment Reporting Information [Line Items]
Net sales										22,000	22,000	15,000
Performance Coatings Group | Operating Segments
Segment Reporting Information [Line Items]
Net sales										5,188,000	3,728,000	1,961,000
Segment profit										452,000	263,000	257,000
Income from continuing operations before income taxes										$ 452,000	$ 263,000	$ 257,000
Reportable segment margins										8.70%	7.10%	13.10%
Identifiable assets		8,535,000				8,265,000				$ 8,535,000	$ 8,265,000	$ 818,000
Capital expenditures										61,000	37,000	19,000
Depreciation										78,000	69,000	20,000
Amortization										211,000	135,000	9,000
Administrative | Administrative
Segment Reporting Information [Line Items]
Net sales										4,000	6,000	5,000
Administrative | Intersegment transfers
Segment Reporting Information [Line Items]
Net sales										(3,483,000)	(3,190,000)	(2,829,000)
Administrative | Segment Reconciling Items
Segment Reporting Information [Line Items]
Net sales										(3,479,000)	(3,184,000)	(2,824,000)
Interest expense										(367,000)	(263,000)	(154,000)
Administrative expenses and other										(884,000)	(503,000)	(415,000)
Income from continuing operations before income taxes										(1,251,000)	(766,000)	(569,000)
Identifiable assets		$ 1,143,000				$ 1,460,000				1,143,000	1,460,000	1,782,000
Capital expenditures										24,000	22,000	21,000
Depreciation										39,000	49,000	29,000
Amortization										$ 5,000	$ 7,000	$ 7,000
[1]	The year ended December 31, 2017 has been adjusted for an inventory accounting change.
[2]	December 31, 2017 has been adjusted for an inventory accounting change.

Uncategorized Items - shw-20181

Label	Element	Value
Comprehensive Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,320,000)