Dollars in Millions (Except Per Common Share Data)
2018
2017
2016
2015
2014
Net sales (1) (2)
$
8,359
$
7,642
$
7,361
$
7,142
$
7,006
Operating profit (1) (2) (3)
1,211
1,194
1,087
914
721
Income from continuing operations attributable to Masco Corporation (1)(2) (4)
734
533
493
357
821
Income per common share from continuing operations (2):
Basic
$
2.38
$
1.68
$
1.49
$
1.04
$
2.31
Diluted
2.37
1.66
1.48
1.03
2.28
Dividends declared
0.450
0.410
0.390
0.370
0.345
Dividends paid
0.435
0.405
0.385
0.365
0.330
At December 31:
Total assets (2) (5)
$
5,393
$
5,534
$
5,164
$
5,664
$
7,208
Long-term debt (5)
2,971
2,969
2,995
2,403
2,919
Shareholders' equity (deficit) (2) (6)
69
183
(96
)
58
1,128
(1)
Amounts exclude discontinued operations in the year 2014 and 2015.
(2)
Net sales, operating profit, income from continuing operations attributable to Masco Corporation, income per common share from continuing operations, total assets and shareholder's equity for 2014 and 2015 have not been recast for the impact of the adoption of Accounting Standards Codification 606. Refer to Note A to the consolidated financial statements for further information on the adoption of this standard.
(3)
Operating profit for 2014 and 2015 has not been recast for the impact of the adoption of Accounting Standards Update ("ASU") 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." Refer to Note A to the consolidated financial statements for further information on the adoption of this standard.
(4)
The year 2014 includes a $529 million tax benefit from the release of the valuation allowance on deferred tax assets.
(5)
Total assets and long-term debt for 2014 has not been recast for the impact of the adoption of ASU 2015‑03 “Interest - Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs,” as amended by Accounting Standards Update 2015-15, which required the reclassification of certain debt issuance costs from an asset to a liability.
(6)
The decrease in shareholder's equity from 2014 to 2015 relates primarily to the spin off of TopBuild Corp.
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