filings.toolsItem 16. Form 10-K Summary
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Item 16. Form 10-K Summary
The optional summary in Item 16 has not been included in this Form 10-K.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MASCO CORPORATION | ||||||||
| By: | /s/ John G. Sznewajs | |||||||
| John G. Sznewajs Vice President, Chief Financial Officer |
February 9, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the date indicated.
| Principal Executive Officer: | ||||||||||||||
| /s/ Keith J. Allman | President and Chief Executive Officer and Director | |||||||||||||
| Keith J. Allman | ||||||||||||||
| Principal Financial Officer: | ||||||||||||||
| /s/ John G. Sznewajs | Vice President, Chief Financial Officer | |||||||||||||
| John G. Sznewajs | ||||||||||||||
| Principal Accounting Officer: | ||||||||||||||
| /s/ Robin L. Zondervan | Vice President, Controller and Chief Accounting Officer | |||||||||||||
| Robin L. Zondervan | ||||||||||||||
| /s/ Lisa A. Payne | Chair of the Board | |||||||||||||
| Lisa A. Payne | ||||||||||||||
| /s/ Mark R. Alexander | Director | |||||||||||||
| Mark R. Alexander | ||||||||||||||
| /s/ Aine L. Denari | Director | |||||||||||||
| Aine L. Denari | ||||||||||||||
| /s/ Marie A. Ffolkes | Director | |||||||||||||
| Marie A. Ffolkes | ||||||||||||||
| /s/ Christopher A. O'Herlihy | Director | |||||||||||||
| Christopher A. O'Herlihy | ||||||||||||||
| /s/ Donald R. Parfet | Director | |||||||||||||
| Donald R. Parfet | ||||||||||||||
| /s/ John C. Plant | Director | |||||||||||||
| John C. Plant | ||||||||||||||
| /s/ Charles K. Stevens, III | Director | |||||||||||||
| Charles K. Stevens, III | ||||||||||||||
| /s/ Reginald M. Turner, Jr. | Director | |||||||||||||
| Reginald M. Turner, Jr. | ||||||||||||||
| February 9, 2023 |
MASCO CORPORATION
SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS
For the Years Ended December 31, 2022, 2021 and 2020
| (In Millions) | ||||||||||||||||||||||||||||||||||||||
| Column A | Column B | Column C | Column D | Column E | ||||||||||||||||||||||||||||||||||
| Additions | ||||||||||||||||||||||||||||||||||||||
| Description | Balance at Beginning of Period | Charged to Costs and Expenses | Charged to Other Accounts | Deductions | Balance at End of Period | |||||||||||||||||||||||||||||||||
| Allowances for credit losses deducted from accounts receivable in the balance sheet: | ||||||||||||||||||||||||||||||||||||||
| 2022 | $ | 6 | $ | 5 | $ | — | $ | (3) | (a) | $ | 8 | |||||||||||||||||||||||||||
| 2021 | $ | 7 | $ | 1 | $ | — | $ | (2) | (a) (b) | $ | 6 | |||||||||||||||||||||||||||
| 2020 | $ | 5 | $ | 3 | $ | — | $ | (1) | (a) | $ | 7 | |||||||||||||||||||||||||||
| Valuation allowance on deferred tax assets: | ||||||||||||||||||||||||||||||||||||||
| 2022 | $ | 17 | $ | — | $ | — | $ | (2) | (d) | $ | 15 | |||||||||||||||||||||||||||
| 2021 | $ | 35 | $ | 5 | $ | — | $ | (23) | (b) | $ | 17 | |||||||||||||||||||||||||||
| 2020 | $ | 38 | $ | — | $ | 2 | (c) | $ | (5) | (d) | $ | 35 |
______________________________
**(a)**Deductions, representing uncollectible accounts written off, less recoveries of accounts written off in prior years.
**(b)**As a result of the Hüppe divestiture in May 2021, $1 million was removed from allowance for credit losses and $23 million was removed from valuation allowance on deferred tax assets.
(c)$2 million net increase in valuation allowance due to currency translation recorded in other comprehensive income.
**(d)**Net reduction to valuation allowance recorded as an income tax benefit.
Previous: Item 15. Exhibits and Financial Statement Schedules.