PPG INDUSTRIES INC, 10-K filed on 2/16/2023
Annual Report
v3.22.4
Cover - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Jan. 31, 2023
Jun. 30, 2022
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2022    
Document Transition Report false    
Entity File Number 1-1687    
Entity Registrant Name PPG INDUSTRIES, INC.    
Entity Incorporation, State or Country Code PA    
Entity Tax Identification Number 25-0730780    
Entity Address, Address Line One One PPG Place    
Entity Address, City or Town Pittsburgh    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 15272    
City Area Code 412    
Local Phone Number 434-3131    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float   $ 30,608 $ 26,830
Entity Common Stock, Shares Outstanding   235,179,993  
Documents Incorporated by Reference Portions of PPG Industries, Inc. Proxy Statement for its 2023 Annual Meeting of Shareholders (the “Proxy Statement”) to be filed with the Securities and Exchange Commission within 120 days after the end of the Company’s fiscal year, are incorporated herein by reference into Part III of this report.    
Amendment Flag false    
Document Fiscal Year Focus 2022    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000079879    
Current Fiscal Year End Date --12-31    
Common Stock – Par Value $1.66 2/3      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock – Par Value $1.66 2/3    
Trading Symbol PPG    
Security Exchange Name NYSE    
0.875% Notes due 2025      
Entity Information [Line Items]      
Title of 12(b) Security 0.875% Notes due 2025    
Trading Symbol PPG 25    
Security Exchange Name NYSE    
1.875% Notes Due 2025 [Member]      
Entity Information [Line Items]      
Title of 12(b) Security 1.875% Notes due 2025    
Trading Symbol PPG 25A    
Security Exchange Name NYSE    
1.400% Notes due 2027      
Entity Information [Line Items]      
Title of 12(b) Security 1.400% Notes due 2027    
Trading Symbol PPG 27    
Security Exchange Name NYSE    
2.750% Notes Due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 2.750% Notes due 2029    
Trading Symbol PPG 29A    
Security Exchange Name NYSE    
v3.22.4
Audit Information
 12 Months Ended
Dec. 31, 2022
Audit Information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Pittsburgh, Pennsylvania
Auditor Firm ID 238
v3.22.4
Consolidated Statement of Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Net sales $ 17,652 $ 16,802 $ 13,834
Cost of sales, exclusive of depreciation and amortization 11,096 10,286 7,777
Selling, general and administrative 3,842 3,780 3,389
Depreciation 388 389 371
Amortization 166 172 138
Research and development, net 448 439 379
Interest expense 167 121 138
Interest income (54) (26) (23)
Impairment and other related charges, net 245 21 93
Pension settlement charge 0 50 0
Asbestos-related claims reserve adjustment 0 (133) 0
Business restructuring, net 33 31 174
Other (income)/charges, net (60) (143) 36
Income before income taxes 1,381 1,815 1,362
Income tax expense 325 374 291
Income from continuing operations 1,056 1,441 1,071
(Loss)/income from discontinued operations, net of tax (2) 19 3
Net income attributable to the controlling and noncontrolling interests 1,054 1,460 1,074
Less: Net income attributable to noncontrolling interests 28 21 15
Net income (attributable to PPG) 1,026 1,439 1,059
Income from continuing operations, net of tax 1,028 1,420 1,056
(Loss)/income from discontinued operations, net of tax $ (2) $ 19 $ 3
Earnings per common share      
Continuing operations (in dollars per share) $ 4.35 $ 5.98 $ 4.46
Discontinued operations (in dollars per share) (0.01) 0.08 0.01
Net Income (attributable to PPG) (in dollars per share) 4.34 6.06 4.47
Earnings per common share - assuming dilution      
Continuing operations (in dollars per share) 4.33 5.93 4.44
Discontinued operations (in dollars per share) (0.01) 0.08 0.01
Net Income (attributable to PPG) (in dollars per share) $ 4.32 $ 6.01 $ 4.45
v3.22.4
Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of Comprehensive Income [Abstract]      
Net income attributable to the controlling and noncontrolling interests $ 1,054 $ 1,460 $ 1,074
Defined benefit pension and other postretirement benefit adjustments 206 174 (213)
Unrealized foreign currency translation adjustments (279) (330) (36)
Other comprehensive loss, net of tax (73) (156) (249)
Total comprehensive income 981 1,304 825
Less: amounts attributable to noncontrolling interests:      
Net income (28) (21) (15)
Unrealized foreign currency translation adjustments 13 5  
Comprehensive income attributable to PPG $ 966 $ 1,288 $ 810
v3.22.4
Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 1,099 $ 1,005
Short-term investments 55 67
Receivables 3,303 3,152
Inventories 2,272 2,171
Other current assets 444 379
Total current assets 7,173 6,774
Property, plant and equipment, net 3,328 3,442
Goodwill 6,078 6,248
Identifiable intangible assets, net 2,414 2,783
Deferred income taxes 95 197
Investments 244 274
Operating lease right-of-use assets 829 891
Other assets 583 742
Total 20,744 21,351
Current liabilities    
Accounts payable and accrued liabilities 4,087 4,392
Restructuring reserves 138 173
Short-term debt and current portion of long-term debt 313 9
Current portion of operating lease liabilities 183 192
Total current liabilities 4,721 4,766
Long-term debt 6,503 6,572
Operating lease liabilities 636 693
Accrued pensions 566 834
Other postretirement benefits 476 672
Deferred income taxes 501 646
Other liabilities 632 757
Total liabilities 14,035 14,940
Commitments and contingent liabilities (See Note 15)
Shareholders’ equity    
Common stock 969 969
Additional paid-in capital 1,130 1,081
Retained earnings 20,828 20,372
Treasury stock, at cost (13,525) (13,386)
Accumulated other comprehensive loss (2,810) (2,750)
Total PPG shareholders’ equity 6,592 6,286
Noncontrolling interests 117 125
Total shareholders’ equity 6,709 6,411
Total $ 20,744 $ 21,351
v3.22.4
Consolidated Statement of Shareholders' Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Loss
Total PPG
Noncontrolling Interests
Beginning balance at Dec. 31, 2019 $ 5,403 $ 969 $ 950 $ 18,906 $ (13,191) $ (2,350) $ 5,284 $ 119
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 1,074     1,059     1,059 15
Other comprehensive loss, net of tax (249)         (249) (249)  
Cash dividends (496)     (496)     (496)  
Issuance of treasury stock 78   45   33   78  
Stock-based compensation activity 13   13       13  
Dividends paid on subsidiary common stock to noncontrolling interests (4)             (4)
Reductions in noncontrolling interests (4)             (4)
Ending balance at Dec. 31, 2020 5,815 969 1,008 19,469 (13,158) (2,599) 5,689 126
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 1,460     1,439     1,439 21
Other comprehensive loss, net of tax (156)         (151) (151) (5)
Cash dividends (536)     (536)     (536)  
Purchase of treasury stock (250)       (250)   (250)  
Issuance of treasury stock 70   48   22   70  
Stock-based compensation activity 25   25       25  
Dividends paid on subsidiary common stock to noncontrolling interests (6)             (6)
Reductions in noncontrolling interests (11)             (11)
Ending balance at Dec. 31, 2021 6,411 969 1,081 20,372 (13,386) (2,750) 6,286 125
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 1,054     1,026     1,026 28
Other comprehensive loss, net of tax (73)         (60) (60) (13)
Cash dividends (570)     (570)     (570)  
Purchase of treasury stock (150)       (150)   (150)  
Issuance of treasury stock 47   36   11   47  
Stock-based compensation activity 10   10       10  
Dividends paid on subsidiary common stock to noncontrolling interests (13)             (13)
Reductions in noncontrolling interests (10)             (10)
Other 3 0 3 0 0 0 3 0
Ending balance at Dec. 31, 2022 $ 6,709 $ 969 $ 1,130 $ 20,828 $ (13,525) $ (2,810) $ 6,592 $ 117
v3.22.4
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Income from continuing operations $ 1,056 $ 1,441 $ 1,071
Adjustments to reconcile net income to cash from operations:      
Depreciation and amortization 554 561 509
Asbestos-related claims reserve adjustment 0 (133) 0
Business restructuring, net 33 31 174
Impairment and other related charges, net 245 21 93
Stock-based compensation expense 35 57 44
Deferred income taxes (157) 35 (47)
Cash contributions to pension plans (11) (10) (17)
Cash used for restructuring actions (85) (77) (126)
Change in certain asset and liability accounts (net of acquisitions):      
Receivables (268) (63) 187
Inventories (227) (279) 111
Other current assets (60) 32 49
Accounts payable and accrued liabilities (8) 295 127
Noncurrent assets and liabilities, net (136) (109) (25)
Taxes and interest payable 143 (64) (108)
Other (151) (176) 88
Cash from operating activities 963 1,562 2,130
Investing activities      
Capital expenditures (518) (371) (304)
Business acquisitions, net of cash balances acquired (114) (2,137) (1,169)
Proceeds from asset sales 117 47 0
Other 54 57 26
Cash used for investing activities (461) (2,404) (1,447)
Financing activities      
Proceeds from Term Loan Credit Agreement, net of fees 0 1,399 0
Repayment of Term Loan Credit Agreement (300) 0 0
Net (payments on)/proceeds from commercial paper and short-term debt (439) 190 150
Proceeds from Term Loan, net of fees 0 0 1,497
Repayment of Term Loan 0 (400) (1,100)
Proceeds from revolving credit facility 0 0 800
Repayment of revolving credit facility 0 0 (800)
Proceeds from the issuance of debt, net of discounts and fees 1,116 692 415
Repayment of long-term debt 0 (847) (500)
Repayment of acquired debt (2) (207) (13)
Purchase of treasury stock (190) (210) 0
Dividends paid on PPG common stock (570) (536) (496)
Other (24) 12 (12)
Cash (used for)/from financing activities (409) 93 (59)
Effect of currency exchange rate changes on cash and cash equivalents 1 (72) 6
Cash reclassified to assets held for sale 0 0 (20)
Net increase/(decrease) in cash and cash equivalents 94 (821) 610
Cash and cash equivalents, beginning of year 1,005 1,826 1,216
Cash and cash equivalents, end of year 1,099 1,005 1,826
Supplemental disclosures of cash flow information:      
Interest paid, net of amount capitalized 156 140 153
Taxes paid, net of refunds 452 491 367
Capital expenditures accrued within Accounts payable and accrued liabilities at year-end 76 163 37
Purchases of treasury stock transacted but not yet settled $ 0 $ 40 $ 0
v3.22.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Principles of Consolidation
The accompanying consolidated financial statements include the accounts of PPG Industries, Inc. (“PPG” or the “Company”) and all subsidiaries, both U.S. and non-U.S., that it controls. PPG owns more than 50% of the voting stock of most of the subsidiaries that it controls. For those consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as noncontrolling interests. Investments in companies in which PPG owns 20% to 50% of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting. As a result, PPG’s share of income or losses from such equity affiliates is included in the consolidated statement of income and PPG’s share of these companies’ shareholders’ equity is included in Investments on the consolidated balance sheet. Transactions between PPG and its subsidiaries are eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period. Such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated. Actual outcomes could differ from those estimates.
Revenue Recognition
Revenue is recognized as performance obligations with the customer are satisfied, at an amount that is determined to be collectible. For the sale of products, this generally occurs at the point in time when control of the Company’s products transfers to the customer based on the agreed upon shipping terms.
Shipping and Handling Costs
Amounts billed to customers for shipping and handling are reported in Net sales in the consolidated statement of income. Shipping and handling costs incurred by the Company for the delivery of goods to customers are included in Cost of sales, exclusive of depreciation and amortization in the consolidated statement of income.
Selling, General and Administrative Costs
Amounts presented in Selling, general and administrative in the consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate-wide functional support in areas such as finance, law, human resources and planning. Distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities.
Advertising Costs
Advertising costs are charged to expense as incurred and totaled $252 million, $243 million and $223 million in 2022, 2021 and 2020, respectively.
Research and Development
Research and development costs, which consist primarily of employee-related costs, are charged to expense as incurred.
($ in millions)202220212020
Research and development – total$470 $463 $401 
Less: depreciation on research facilities22 24 22 
Research and development, net$448 $439 $379 
Legal Costs
Legal costs, which primarily include costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes, are charged to expense as incurred.
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in Income tax expense in the consolidated statement of income in the period that includes the enactment date.
A valuation allowance is provided against deferred tax assets in situations where PPG determines it is more likely than not such assets will not ultimately be realized.
PPG does not recognize a tax benefit unless it concludes that it is more likely than not that the benefit will be sustained on audit by the taxing authority based solely on the technical merits of the associated tax position. If the recognition threshold is met, PPG recognizes a tax benefit measured at the largest amount of the tax benefit that, in PPG’s judgment, is greater than 50 percent likely to be realized. PPG records interest and penalties related to uncertain tax positions in Income tax expense in the consolidated statement of income.
Foreign Currency Translation
The functional currency of most significant non-U.S. operations is their local currency. Assets and liabilities of those operations are translated into U.S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period. Unrealized foreign currency translation gains and losses are deferred in Accumulated other comprehensive loss on the consolidated balance sheet.
Cash Equivalents
Cash equivalents are highly liquid investments (valued at cost, which approximates fair value) acquired with an original maturity of three months or less.
Short-term Investments
Short-term investments are highly liquid, high credit quality investments (valued at cost plus accrued interest) that have stated maturities of greater than three months to less than one year. The purchases and sales of these investments are classified as Investing activities in the consolidated statement of cash flows.
Marketable Equity Securities
The Company’s investment in marketable equity securities is recorded at fair market value and reported as Other current assets and Investments on the consolidated balance sheet with changes in fair market value recorded in income.
Inventories
Inventories are stated at the lower of cost or net realizable value. Most U.S. inventories are stated at cost, using the last-in, first-out (“LIFO”) method of accounting, which does not exceed net realizable value. All other inventories are stated at cost, using the first-in, first-out (“FIFO”) method of accounting, which does not exceed net realizable value. PPG determines cost using either average or standard factory costs, which approximate actual costs, excluding certain fixed costs such as depreciation and property taxes. Refer to Note 3, “Working Capital Detail” for further information concerning the Company’s inventories.
Derivative Financial Instruments
The Company recognizes all derivative financial instruments (a “derivative”) as either assets or liabilities at fair value on the consolidated balance sheet. The accounting for changes in the fair value of a derivative depends on the use of the instrument.
For derivative instruments that are designated and qualify as cash flow hedges, the unrealized gains or losses on the derivatives are recorded in the consolidated statement of comprehensive income. Amounts in Accumulated other comprehensive loss on the consolidated balance sheet are reclassified into Income before income taxes in the consolidated statement of income in the same period or periods during which the hedged transactions are recorded in Income before income taxes in the consolidated statement of income.
For derivative instruments that are designated and qualify as fair value hedges, the change in the fair value of the derivatives are reported in Income before income taxes in the consolidated statement of income, offsetting the gain or loss recognized for the change in fair value of the asset, liability, or firm commitment that is being hedged.
For derivatives, debt or other financial instruments that are designated and qualify as net investment hedges, the gains or losses associated with the financial instruments are reported as translation gains or losses in Accumulated other comprehensive loss on the consolidated balance sheet. Gains and losses in Accumulated other comprehensive loss related to hedges of the Company’s net investments in foreign operations are reclassified out of Accumulated other comprehensive loss and recognized in Income before income taxes in the consolidated statement of income upon a substantial liquidation, sale or partial sale of such investments or upon impairment of all or a portion of such investments. The cash flow impact of these instruments is classified as Investing activities in the consolidated statement of cash flows.
Changes in the fair value of derivative instruments not designated as hedges for hedge accounting purposes are recognized in Income before income taxes in the consolidated statement of income in the period of change.
Property, Plant and Equipment
Property, plant and equipment is recorded at cost. Depreciation is computed on a straight-line method based on the estimated useful lives of related assets. Accelerated depreciation expense is recorded when facilities or equipment are subject to abnormal economic conditions, restructuring actions or obsolescence.
The cost of significant improvements that add to productive capacity or extend the lives of properties are capitalized. Costs for repairs and maintenance are charged to expense as incurred. When a capitalized asset is retired or otherwise disposed of, the original cost and related accumulated depreciation balance are removed from the accounts and any related gain or loss is recorded in Income before income taxes in the consolidated statement of income. The amortization cost of finance lease assets is recorded in Depreciation expense in the consolidated statement of income. Property and other long-lived assets are reviewed for impairment whenever events or circumstances indicate that their carrying amounts may not be recoverable. Refer to Note 4, “Property, Plant and Equipment” for further details.
Goodwill and Identifiable Intangible Assets
Goodwill represents the excess of the cost over the fair value of acquired identifiable tangible and intangible assets less liabilities assumed from acquired businesses. Identifiable intangible assets acquired in business combinations are recorded based upon their fair value at the date of acquisition.
PPG is a multinational manufacturer with 10 operating segments (which the Company refers to as “strategic business units”) that are organized based on the Company’s major products lines. These operating segments are also the Company’s reporting units for purposes of testing goodwill for impairment, which is tested at least annually in connection with PPG’s strategic planning process or more frequently if an indication of impairment exists. The Company tests goodwill for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative evaluation is an assessment of factors, including reporting unit specific operating results as well as industry, market and general economic conditions, to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company may elect to bypass this qualitative assessment for some or all of its reporting units and perform a quantitative test. Quantitative goodwill impairment testing, if deemed necessary, is performed during the fourth quarter of each year by comparing the estimated fair value of an associated reporting unit as of September 30 to its carrying value. Fair value is estimated using a discounted cash flow model. Key assumptions and estimates used in the discounted cash flow model include projected future revenues, discount rates, operating cash flows, capital expenditures and tax rates. In 2022, the annual impairment testing review of goodwill did not result in impairment of the Company’s reporting units.
The Company has determined that certain acquired trademarks have indefinite useful lives. The Company tests the carrying value of these trademarks for impairment at least annually, or as needed whenever events and circumstances indicate that their carrying amount may not be recoverable. In the first quarter 2022, due to the adverse economic impacts of Russian military forces invading Ukraine, the Company identified indicators that the carrying value of an indefinite-lived intangible asset and certain definite-lived intangible assets associated with the Company's operations in Russia may not be recoverable as of March 31, 2022, and the carrying value of those assets was assessed for impairment. As a result of this assessment, the Company recorded impairment charges of $124 million related to the indefinite-lived intangible asset and $23 million related to definite-lived intangible assets in the consolidated statement of income for the year ended December 31, 2022. Refer to Note 7, "Impairment and Other Related Charges, Net" for additional information.
The annual assessment takes place in the fourth quarter of each year either by completing a qualitative assessment or quantitatively by comparing the estimated fair value of each trademark as of September 30 to its carrying value. Fair value is estimated by using the relief from royalty method (a discounted cash flow methodology). The qualitative assessment includes consideration of factors, including revenue relative to the asset being assessed, the operating results of the related business as well as industry, market and general economic conditions, to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount. In 2022, the annual impairment testing review of indefinite-lived intangibles performed as of September 30, 2022 resulted in the Company recognizing a pretax impairment charge of $4 million. Refer to Note 6, “Goodwill and Other Identifiable Intangible Assets” for further details.
Identifiable intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives (1 to 30 years) and are reviewed for impairment whenever events or circumstances indicate that their carrying amount may not be recoverable.
Receivables and Allowances
All trade receivables are reported on the consolidated balance sheet at the outstanding principal adjusted for any allowance for doubtful accounts and any charge offs. The Company provides an allowance for doubtful accounts to reduce receivables to their estimated net realizable value when it is probable that a loss will be incurred. Those estimates are based on historical collection experience, current regional economic and market conditions, the aging of accounts
receivable, assessments of current creditworthiness of customers, and forward-looking information. Refer to Note 20, “Revenue Recognition” for further details.
Leases
The Company determines if a contract is a lease at the inception of the arrangement. The Company reviews all options to extend, terminate, or purchase its right of use assets at the inception of the lease and accounts for these options when they are reasonably certain of being exercised. Certain real estate leases contain lease and non-lease components, which are accounted for separately. For certain equipment leases, lease and non-lease components are accounted for as a single lease component.
Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. Lease expense for these leases is recognized on a straight-line basis over the lease term.
Variable lease expense is based on contractual arrangements with PPG’s lessors determined based on external indices or other relevant market factors. In addition, PPG’s variable lease expense also includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying.
Nearly all of PPG’s lease contracts do not provide a readily determinable implicit rate. For these contracts, PPG’s estimated incremental borrowing rate is based on information available at the inception of the lease.
Product Warranties
The Company accrues for product warranties at the time the associated products are sold based on historical claims experience. The reserve, pretax charges against income and cash outlays for product warranties were not significant to the consolidated financial statements of the Company for any year presented.
Asset Retirement Obligations
An asset retirement obligation represents a legal obligation associated with the retirement of a tangible long-lived asset that is incurred upon the acquisition, construction, development or normal operation of that long-lived asset. PPG recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The asset retirement obligation is subsequently adjusted for changes in fair value. The associated estimated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset and depreciated over its useful life. PPG’s asset retirement obligations are primarily associated with the retirement or closure of certain assets used in PPG’s manufacturing process. The accrued asset retirement obligation is recorded in Accounts payable and accrued liabilities and Other liabilities on the consolidated balance sheet and was $23 million and $22 million as of December 31, 2022 and 2021, respectively.
PPG’s only conditional asset retirement obligation relates to the possible future abatement of asbestos contained in certain PPG production facilities. The asbestos in PPG’s production facilities arises from the application of normal and customary building practices in the past when the facilities were constructed. This asbestos is encapsulated in place and, as a result, there is no current legal requirement to abate it. Because there is no requirement to abate, the Company does not have any current plans or an intention to abate and therefore the timing, method and cost of future abatement, if any, are not known. The Company has not recorded an asset retirement obligation associated with asbestos abatement, given the uncertainty concerning the timing of future abatement, if any.
Environmental Contingencies
It is PPG’s policy to accrue expenses for environmental contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Reserves for environmental contingencies are exclusive of claims against third parties and are generally not discounted.
Assets and Liabilities Held for Sale
The Company classifies assets and liabilities as held for sale (a “disposal group”) when management commits to a plan to sell the disposal group, the sale is probable within one year and the disposal group is available for immediate sale in its present condition. The Company considers various factors, particularly whether actions required to complete the plan indicate it is unlikely that significant changes to the plan will be made or the plan will be withdrawn. Assets held for sale are measured at the lower of carrying value or fair value less costs to sell. Any loss resulting from the measurement is recognized in the period the held-for-sale criteria are met. Conversely, gains are not recognized until the date of the sale. When the disposal group is classified as held for sale, depreciation and amortization ceases and the Company tests the assets for impairment.
Reclassifications
Certain reclassifications of prior years’ data have been made to conform to the current year presentation. These reclassifications had no impact on our previously reported Net income, cash flows or shareholders’ equity.
Accounting Standards Adopted in 2022
Effective January 1, 2022, PPG adopted Accounting Standards Update ("ASU") No. 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40)." This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity's own equity. Adoption of this standard did not materially impact PPG's consolidated financial position, results of operations or cash flows.
In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform." This ASU provided optional expedients and exceptions to U.S. GAAP for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate ("LIBOR"). The amendments in this ASU applied only to contracts, hedging relationships, and other transactions that referenced LIBOR or another reference rate expected to be discontinued. The amendments in this ASU were effective through December 31, 2022. PPG did not apply any of the optional expedients or exceptions allowed under this ASU.
Accounting Standards to be Adopted in Future Years
There were no accounting pronouncements promulgated prior to December 31, 2022 that are not effective until a future date which are expected to have a material impact on PPG’s consolidated financial position, results of operations or cash flows.
v3.22.4
Acquisitions
 12 Months Ended
Dec. 31, 2022
Business Combinations [Abstract]  
Acquisitions Acquisitions
The pro-forma impact of the following acquisitions on PPG’s sales and results of operations, including the pro-forma effect of events that are directly attributable to each acquisition, was not significant.
Tikkurila
On June 10, 2021, PPG completed its tender offer for all of the outstanding shares of Tikkurila Oyj ("Tikkurila"). Tikkurila is a leading Nordic producer and distributor of decorative paint and coatings, including an industrial paint business that produces paints and coatings for the wood and metal industries, among others. Immediately prior to the June 10, 2021 acquisition date, PPG owned 9.3% of Tikkurila’s issued and outstanding shares. Immediately following the acquisition date, PPG owned 97.1% of Tikkurila’s issued and outstanding shares. PPG continued to acquire the remaining shares not tendered during the tender offer period through a squeeze out process, ultimately achieving 100% ownership of Tikkurila’s outstanding shares during the fourth quarter of 2021.
The results of this business since the date of acquisition have been reported within two operating segments: the architectural coatings – EMEA business and the industrial coatings business. The architectural coatings – EMEA business is included within the Performance Coatings reportable business segment and the industrial coatings business is included within the Industrial Coatings reportable business segment.
Ennis-Flint
On December 23, 2020, PPG completed the acquisition of Ennis-Flint, a global manufacturer of a broad portfolio of pavement marking products, including traffic paint, hot-applied and preformed thermoplastics and raised pavement markers. PPG funded this transaction using cash on hand. The results of this business since the date of acquisition have been reported within the traffic solutions business within the Performance Coatings reportable business segment.
v3.22.4
Working Capital Detail
 12 Months Ended
Dec. 31, 2022
Disclosure Components Of Working Capital Detail [Abstract]  
Working Capital Detail Working Capital Detail
($ in millions)20222021
Receivables  
 Trade - net$2,824 $2,687 
 Other - net479 465 
 Total$3,303 $3,152 
Inventories(1)
 Finished products$1,209 $1,175 
 Work in process238 234 
 Raw materials784 723 
 Supplies41 39 
 Total$2,272 $2,171 
Accounts payable and accrued liabilities
 Trade $2,538 $2,734 
 Accrued payroll501 534 
 Customer rebates377 368 
 Other postretirement and pension benefits77 87 
 Income taxes37 36 
 Other557 633 
 Total$4,087 $4,392 
(1)Inventories valued using the LIFO method of inventory valuation comprised 21% and 29% of total gross inventory values as of December 31, 2022 and 2021, respectively. If the FIFO method of inventory valuation had been used, inventories would have been $272 million and $174 million higher as of December 31, 2022 and 2021, respectively.
v3.22.4
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
($ in millions)Useful Lives (years)20222021
Land and land improvements1-30$548 $570 
Buildings20-401,774 1,769 
Machinery and equipment5-253,960 3,949 
Other3-201,203 1,177 
Construction in progress 492 509 
Total$7,977 $7,974 
Less: accumulated depreciation4,649 4,532 
Net
 $3,328 $3,442 
v3.22.4
Investments
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Investments Investments
($ in millions)20222021
Investments in equity affiliates$134 $126 
Marketable equity securities (See Note 11)
61 98 
Other49 50 
Total$244 $274 
Investments in equity affiliates represent PPG’s ownership interests in entities between 20% and 50% that manufacture and sell coatings and certain chemicals.
PPG’s share of undistributed net earnings of equity affiliates was $25 million, $15 million and $8 million in 2022, 2021 and 2020, respectively. Dividends received from equity affiliates were $17 million, $9 million and $18 million in 2022, 2021 and 2020, respectively.
v3.22.4
Goodwill and Other Identifiable Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Identifiable Intangible Assets Goodwill and Other Identifiable Intangible Assets
Goodwill
($ in millions)Performance CoatingsIndustrial CoatingsTotal
January 1, 2021
$4,023 $1,079 $5,102 
Acquisitions, including purchase accounting adjustments1,188 177 1,365 
Foreign currency impact(177)(42)(219)
December 31, 2021$5,034 $1,214 $6,248 
Acquisitions, including purchase accounting adjustments31 15 46 
Divestitures(40)— (40)
Foreign currency impact(144)(32)(176)
December 31, 2022$4,881 $1,197 $6,078 
Identifiable Intangible Assets
 December 31, 2022December 31, 2021
($ in millions)Gross Carrying AmountAccumulated AmortizationNetGross Carrying AmountAccumulated AmortizationNet
Indefinite-Lived Identifiable Intangible Assets
Trademarks$1,325 $— $1,325 $1,449 $— $1,449 
Definite-Lived Identifiable Intangible Assets
Acquired technology$827 ($636)$191 $862 ($616)$246 
Customer-related1,855 (1,112)743 1,956 (1,064)892 
Trade names311 (158)153 336 (144)192 
Other50 (48)2 51 (47)4 
Total Definite Lived Intangible Assets$3,043 ($1,954)$1,089 $3,205 ($1,871)$1,334 
Total Identifiable Intangible Assets$4,368 ($1,954)$2,414 $4,654 ($1,871)$2,783 
In the first quarter 2022, due to the adverse economic impacts of the Russian invasion in Ukraine, the Company recognized $147 million of Impairment and other related charges, net in the consolidated statement of income related to certain definite-lived and indefinite-lived intangible assets in the Performance Coatings segment. Refer to Note 7, “Impairment and Other Related Charges, Net” for further details.
In the fourth quarter, the Company tests the carrying value of indefinite-lived trademarks for impairment, as discussed in Note 1, “Summary of Significant Accounting Policies.” In conjunction with both the 2022 and 2020 annual impairment assessments, the long-term forecast of net sales for certain trademarks in the Performance Coatings segment was reduced as a result of historical performance, resulting in recognition of pretax impairment charges of $4 million and $38 million, respectively, in Impairment and other related charges, net in the accompanying consolidated statements of income. In 2021, the annual impairment testing review of indefinite-lived intangibles did not result in an impairment.
Aggregate amortization expense was $166 million, $172 million and $138 million in 2022, 2021 and 2020, respectively.
($ in millions)20232024202520262027
Estimated future amortization expense$150 $127 $115 $93 $85 
v3.22.4
Impairment and Other Related Charges
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Impairment and Other Related Charges
7. Impairment and Other Related Charges, Net
Wind Down of Russia Operations
In the first quarter 2022, Russian military forces invaded Ukraine. This military action had significant and immediate adverse economic impacts on businesses operating in Russia and Ukraine. Based on deteriorating business conditions and regulatory restrictions, including the impact of economic sanctions imposed on Russia by the United States, the European Union and other governments, PPG immediately ceased sales to Russian state-owned entities, announced that the Company would cease all new investments in Russia and commenced actions to wind down most of the Company’s operations in Russia.
Based on this change in facts and circumstances, the long-term cash flow forecast for the Company’s operations in Russia was significantly reduced. This reduction in the long-term cash flow forecast indicated that the carrying amounts of long-lived assets and certain indefinite-lived intangible assets associated with the Company’s operations in Russia may not be recoverable, and the carrying value of these assets was tested for impairment. Additionally, the Company evaluated trade receivables for estimated future credit losses, inventories for declines in net realizable value and other current assets for impairment in light of the deteriorating economic conditions in Russia and Ukraine. As a result, during the three months ended March 31, 2022, the Company recognized $290 million of Impairment and other related charges, net in the consolidated statement of income, comprised of $201 million of long-lived asset impairment charges and $89 million of other related charges.
The $201 million of long-lived asset impairment charges recorded during first quarter 2022 was comprised of $124 million related to indefinite-lived intangible assets, $54 million related to property, plant and equipment, net and $23 million related to definite-lived intangible assets. The $89 million of other related charges represented reserves established for receivables and other current assets and the write-down of inventories impacted by the adverse economic consequences of the Russian invasion of Ukraine.
Subsequently, the Company released a portion of the previously established reserves due to the collection of certain trade receivables and recorded recoveries due to the realization of certain previously written-down inventories, resulting in recognition of income of $63 million within Impairment and other related charges, net.
The Company continues to consider actions to exit Russia, including a possible sale of its Russian business or controlled withdrawal from the Russia market.
During both the years ended December 31, 2022 and 2021, net sales in Russia represented approximately 1% of PPG net sales.
Businesses Classified as Held for Sale
The Company recorded impairment charges of $14 million, $21 million and $52 million in Impairment and other related charges, net in the consolidated statement of income for the years ended December 31, 2022, 2021 and 2020, respectively, related to certain smaller, non-strategic businesses. PPG committed to plans to sell these business and they were reclassified as held for sale. The revenue of these businesses represents less than 1% of PPG annual net sales. The impairment charges recorded represent the excess net book value of the net assets over the anticipated sales proceeds less costs to sell.
v3.22.4
Business Restructuring
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Business Restructuring Business Restructuring
The Company records restructuring liabilities that represent charges incurred in connection with consolidations of certain operations, including operations from acquisitions, as well as headcount reduction programs. These charges consist primarily of severance costs and certain other cash costs. As a result of these programs, the Company will also incur incremental non-cash accelerated depreciation expense for certain assets due to their reduced expected asset life. These charges are not allocated to the Company’s reportable business segments. Refer to Note 21, “Reportable Business Segment Information” for additional information.
In the third quarter 2022, the Company approved a business restructuring plan which included actions to reduce its global cost structure in response to current economic conditions, including softening demand in Europe and lower than expected demand recovery in China. The Company performed a comprehensive evaluation to identify opportunities to reduce costs and improve the profitability of the overall business portfolio. The program includes actions to right-size employee headcount, reductions in functional and administrative costs and other cost savings actions. The majority of these restructuring actions are expected to be completed by the end of 2023.
In the fourth quarter 2021, the Company approved business restructuring actions related to recent acquisitions targeting further consolidation of its manufacturing footprint and headcount reductions. The majority of these restructuring actions are expected to be completed by the end of 2023.
In the second quarter 2020, the Company approved a business restructuring plan which included actions to reduce its global cost structure. The program addressed weakened global economic conditions stemming from the pandemic and related pace of recovery in a few end-use markets along with further opportunities to optimize supply chain and functional costs. In the second quarter 2019, the Company approved a business restructuring plan which included actions to reduce its global cost structure. Substantially all actions of the 2020 and 2019 restructuring programs have been completed.
The following table summarizes restructuring reserve activity for the years ended December 31, 2022 and 2021:
Total Reserve
($ in millions)20222021
January 1$231 $293 
Approved restructuring actions84 54 
Release of prior reserves and other adjustments(a)
(51)(23)
Cash payments(85)(77)
Foreign currency impact(10)(16)
December 31$169 $231 
(a)Certain releases were recorded to reflect the current estimate of costs to complete planned business restructuring actions.
v3.22.4
Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases PPG leases certain retail paint stores, warehouses, distribution facilities, office space, fleet vehicles and equipment.
The components of lease expense for the years ended December 31, 2022, 2021 and 2020 were as follows:
($ in millions)Classification in the Consolidated Statement of Income202220212020
Operating lease costCost of sales, exclusive of depreciation and amortization$43 $41 $34 
Operating lease costSelling, general and administrative216 219 206 
Total operating lease cost$259 $260 $240 
Finance lease cost:
Amortization of right-of-use assetsDepreciation$2 $2 $2 
Interest on lease liabilitiesInterest expense1 1 1 
Total finance lease cost$3 $3 $3 
Total lease cost$262 $263 $243 
Total operating lease cost for the years ended December 31, 2022, 2021 and 2020 is inclusive of the following:
($ in millions)202220212020
Variable lease costs$18 $18 $17 
Short-term lease costs$22 $16 $8 
The lease amounts included in the consolidated balance sheet as of December 31, 2022 and 2021 were as follows:
($ in millions)Classification on the Consolidated Balance Sheet20222021
Assets:
OperatingOperating lease right-of-use assets$829 $891 
Finance(1)
Property, plant, and equipment, net15 13 
Total leased assets$844 $904 
Liabilities:
Current
OperatingCurrent portion of operating lease liabilities$183 $192 
FinanceShort-term debt and current portion of long-term debt3 3 
Noncurrent
OperatingOperating lease liabilities$636 $693 
FinanceLong-term debt7 7 
Total lease liabilities$829 $895 
(1)Net of accumulated depreciation of $14 million and $13 million as of December 31, 2022 and 2021, respectively.
Supplemental cash flow information related to leases for the years ended December 31, 2022, 2021 and 2020 was as follows:
($ in millions)202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases$218 $224 $212 
Operating cash flows paid for finance leases$1 $1 $1 
Financing cash flows paid for finance leases$2 $3 $2 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$161 $253 $227 
Finance leases$3 $— $4 
Lease terms and discount rates as of December 31, 2022, 2021 and 2020 were as follows:
202220212020
Weighted-average remaining lease term (in years)
Operating leases6.77.17.4
Finance leases9.06.46.1
Weighted-average discount rate
Operating leases2.6 %2.1 %2.4 %
Finance leases5.7 %5.8 %7.0 %
As of December 31, 2022, maturities of lease liabilities were as follows:
($ in millions)Operating LeasesFinance Leases
2023$201 $3 
2024166 2 
2025129 2 
2026100 1 
202778 1 
Thereafter219 3 
Total lease payments$893 $12 
Less: Interest74 2 
Total lease obligations$819 $10 
Leases Leases PPG leases certain retail paint stores, warehouses, distribution facilities, office space, fleet vehicles and equipment.
The components of lease expense for the years ended December 31, 2022, 2021 and 2020 were as follows:
($ in millions)Classification in the Consolidated Statement of Income202220212020
Operating lease costCost of sales, exclusive of depreciation and amortization$43 $41 $34 
Operating lease costSelling, general and administrative216 219 206 
Total operating lease cost$259 $260 $240 
Finance lease cost:
Amortization of right-of-use assetsDepreciation$2 $2 $2 
Interest on lease liabilitiesInterest expense1 1 1 
Total finance lease cost$3 $3 $3 
Total lease cost$262 $263 $243 
Total operating lease cost for the years ended December 31, 2022, 2021 and 2020 is inclusive of the following:
($ in millions)202220212020
Variable lease costs$18 $18 $17 
Short-term lease costs$22 $16 $8 
The lease amounts included in the consolidated balance sheet as of December 31, 2022 and 2021 were as follows:
($ in millions)Classification on the Consolidated Balance Sheet20222021
Assets:
OperatingOperating lease right-of-use assets$829 $891 
Finance(1)
Property, plant, and equipment, net15 13 
Total leased assets$844 $904 
Liabilities:
Current
OperatingCurrent portion of operating lease liabilities$183 $192 
FinanceShort-term debt and current portion of long-term debt3 3 
Noncurrent
OperatingOperating lease liabilities$636 $693 
FinanceLong-term debt7 7 
Total lease liabilities$829 $895 
(1)Net of accumulated depreciation of $14 million and $13 million as of December 31, 2022 and 2021, respectively.
Supplemental cash flow information related to leases for the years ended December 31, 2022, 2021 and 2020 was as follows:
($ in millions)202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases$218 $224 $212 
Operating cash flows paid for finance leases$1 $1 $1 
Financing cash flows paid for finance leases$2 $3 $2 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$161 $253 $227 
Finance leases$3 $— $4 
Lease terms and discount rates as of December 31, 2022, 2021 and 2020 were as follows:
202220212020
Weighted-average remaining lease term (in years)
Operating leases6.77.17.4
Finance leases9.06.46.1
Weighted-average discount rate
Operating leases2.6 %2.1 %2.4 %
Finance leases5.7 %5.8 %7.0 %
As of December 31, 2022, maturities of lease liabilities were as follows:
($ in millions)Operating LeasesFinance Leases
2023$201 $3 
2024166 2 
2025129 2 
2026100 1 
202778 1 
Thereafter219 3 
Total lease payments$893 $12 
Less: Interest74 2 
Total lease obligations$819 $10 
v3.22.4
Borrowings and Lines of Credit
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Borrowings and Lines of Credit Borrowings and Lines of Credit
Long-term Debt Obligations
($ in millions)Maturity Date20222021
3.2% notes ($300)(1)
2023$300 $299 
Term Loan Credit Agreement, due 2024 ($1,400)20241,099 1,399 
2.4% notes ($300)2024299 298 
0.875% notes (€600)2025639 677 
1.875% notes (€300)2025319 — 
1.200% notes ($700)2026694 692 
1.4% notes (€600)2027638 677 
3.75% notes ($800)(2)
2028809 811 
2.5% notes (€80)202985 90 
2.8% notes ($300)2029298 298 
2.750% notes (€700)2029743 — 
2.55% notes ($300)2030297 296 
1.95% note (€50)203752 — 
7.70% notes ($176)2038174 174 
5.5% notes ($250)2040247 247 
3.0% notes (€120)2044122 130 
Commercial paperVarious— 440 
Various other non-U.S. debt(3)
Various1 1 
Finance lease obligationsVarious10 10 
Impact of derivatives on debt(4)
N/A(20)36 
Total$6,806 $6,575 
Less payments due within one yearN/A303 3 
Long-term debt$6,503 $6,572 
(1)In February 2018, PPG entered into interest rate swaps which converted $150 million of the notes from a fixed interest rate to a floating interest rate based on the three month London Interbank Offered Rate (LIBOR). The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 2.2% and 0.6% for the years ended December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(2)In February 2018, PPG entered into interest rate swaps which converted $375 million of the notes from a fixed interest rate to a floating interest rate based on the three month LIBOR. The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 2.6% and 1.0% for the years ended December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(3)Weighted average interest rate of 4.4% and 3.1% as of December 31, 2022 and 2021, respectively.
(4)Fair value adjustment of the 3.2% $300 million notes and 3.75% $800 million notes as a result of fair value hedge accounting treatment related to the outstanding interest rate swaps as of December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
Long-term Debt Activities
In May 2022, PPG completed a public offering of €300 million 1.875% Notes due 2025 and €700 million 2.750% Notes due 2029. These notes were issued pursuant to PPG’s existing shelf registration statement and pursuant to an indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented (the "2022 Indenture"). The 2022 Indenture governing these notes contains covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company’s assets. The terms of these notes also require the Company to make an offer to repurchase Notes upon a Change of Control Triggering Event (as defined in the 2022 Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest. The Company may issue additional debt from time to time pursuant to the Indenture. The aggregate cash proceeds from the notes, net of discounts and fees, was $1,061 million. The notes are denominated in euro and have been designated as hedges of net investments in the Company’s European operations. For more information, refer to Note 11 “Financial Instruments, Hedging Activities and Fair Value Measurements.”
In March 2022, PPG privately placed a 15-year €50 million 1.95% fixed interest note. This note contains covenants materially consistent with the 1.200% notes discussed below. This debt arrangement is denominated in euros and has been designated as a net investment hedge of the Company's European operations. Refer to Note 11 "Financial Instruments, Hedging Activities and Fair Value Measurements" for additional information.
In December 2021, PPG completed an early redemption of the 0.875% notes due March 2022 using cash on hand.
In the second quarter of 2021, two of PPG's long-term debt obligations matured; $134 million 9% non-callable debentures and non-U.S. debt of €30 million. The Company paid $170 million to settle these obligations using cash on hand.
In March 2021, PPG completed a public offering of $700 million aggregate principal amount of 1.200% notes due 2026. These notes were issued pursuant to PPG’s existing shelf registration statement and pursuant to the Indenture between the Company and the Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented (the "2021 Indenture"). The 2021 Indenture governing these notes contains covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company’s assets. The terms of these notes also require the Company to make an offer to repurchase the notes upon a Change of Control Triggering Event (as defined in the 2021 Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest. The Company may issue additional debt from time to time pursuant to the 2021 Indenture. The aggregate cash proceeds from the notes, net of discounts and fees, was $692 million.
In February 2021, PPG entered into a $2.0 billion Term Loan Credit Agreement (the "Term Loan Credit Agreement"). The Term Loan Credit Agreement provided the Company with the ability to borrow up to an aggregate principal amount of $2.0 billion on an unsecured basis prior to December 31, 2021, to be used for working capital and general corporate purposes. The Term Loan Credit Agreement contains covenants that are usual and customary restrictive covenants for facilities of its type, which include, with specified exceptions, limitations on the Company’s ability to create liens or other encumbrances, to enter into sale and leaseback transactions and to enter into consolidations, mergers or transfers of all or substantially all of its assets. The Term Loan Credit Agreement matures and all outstanding borrowings are due and payable on the third anniversary of the date of the initial borrowing under the Agreement. In June 2021, PPG borrowed $700 million under Term Loan Credit Agreement to finance the Company’s acquisition of Tikkurila, and to pay fees, costs and expenses related thereto. In December 2021, PPG borrowed an additional $700 million under the Term Loan Credit Agreement. In 2022, PPG repaid $300 million of the Term Loan Credit Agreement using cash on hand. Borrowings of $1.1 billion and $1.4 billion were outstanding under the Term Loan Credit Agreement as of December 31, 2022 and December 31, 2021, respectively.
In August 2020, PPG completed a public offering of $100 million aggregate principal amount of 3.75% notes due March 2028. These notes were issued as additional notes pursuant to PPG’s existing shelf registration statement and pursuant to the Indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented (the "2018 Indenture"), which is the same Indenture pursuant to which we previously issued $700 million in aggregate principle amount of our 3.75% notes due March 2028 on February 27, 2018. The new notes will be treated as a single series of notes with the existing notes under the 2018 Indenture, have the same CUSIP number as the existing notes, and be fungible with the existing notes for US federal income tax purposes. The Indenture governing these notes contains covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company’s assets. The terms of these notes also require the Company to make an offer to repurchase the notes upon a Change of Control Triggering Event (as defined in the 2018 Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest. The Company may issue additional debt from time to time pursuant to the 2018 Indenture. The aggregate cash proceeds from the notes, including the premium received at issuance, net of fees, was $119 million.
In June 2020, PPG completed an early redemption of the $500 million 3.6% notes due November 2020 using proceeds from the May 2020 public offering and cash on hand. The Company recorded a charge of $7 million in the second quarter for the debt redemption which consists of the aggregate make-whole cash premium of $6 million and a balance of unamortized fees and discounts of $1 million related to the debt redeemed.
In May 2020, PPG completed a public offering of $300 million aggregate principal amount of 2.55% notes due 2030. These notes were issued pursuant to PPG’s existing shelf registration statement and pursuant to an indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented (the "2020 Indenture"). The 2020 Indenture governing these notes contains covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company’s assets. The terms of these notes also require the Company to make an offer to repurchase the notes upon a Change of Control Triggering Event (as defined in the 2020 Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest. The Company may issue additional debt from time to time pursuant to the 2020 Indenture. The aggregate cash proceeds from the notes, net of discounts and fees, was $296 million.
In April 2020, PPG entered into a $1.5 billion 364-Day Term Loan Credit Agreement (the “Term Loan”). The Term Loan contained covenants that are consistent with those in the Credit Agreement discussed below and that are usual and customary restrictive covenants for facilities of its type, which include, with specified exceptions, limitations on the Company’s ability to create liens or other encumbrances, to enter into sale and leaseback transactions and to enter into consolidations, mergers or transfers of all or substantially all of its assets. In 2020, PPG repaid $1.1 billion of the Term Loan using cash on hand. In the first quarter 2021, PPG repaid the remaining $400 million of the Term Loan using cash on hand. The Term Loan terminated on April 13, 2021.
Credit agreements
In August 2019, PPG amended and restated its five-year credit agreement (the “Credit Agreement”) with several banks and financial institutions. The Credit Agreement provides for a $2.2 billion unsecured revolving credit facility. The Company has the ability to increase the size of the Credit Agreement by up to an additional $750 million, subject to the receipt of lender commitments and other conditions precedent. The Credit Agreement will terminate on August 30, 2024. The Company has the right, subject to certain conditions set forth in the Credit Agreement, to designate certain subsidiaries of the Company as borrowers under the Credit Agreement. In connection with any such designation, the Company is required to guarantee the obligations of any such subsidiaries under the Credit Agreement. In March 2020, PPG borrowed $800 million under the Credit Agreement and repaid that amount in full in April 2020. For the years ended December 31, 2022 and 2021, there were no amounts outstanding under the credit agreement. The indicative borrowing rate on a one month, U.S. dollar denominated borrowing was 4.4% at December 31, 2022.
Borrowings under the Credit Agreement may be made in U.S. Dollars or in euros. The Credit Agreement provides that loans will bear interest at rates based, at the Company’s option, on one of two specified base rates plus a margin based on certain formulas defined in the Credit Agreement. Additionally, the Credit Agreement contains a Commitment Fee, as defined in the Credit Agreement, on the amount of unused commitments under the Credit Agreement ranging from 0.060% to 0.125% per annum.
The Credit Agreement also supports the Company’s commercial paper borrowings which are classified as long-term based on PPG’s intent and ability to refinance these borrowings on a long-term basis. There were no commercial paper borrowings outstanding as of December 31, 2022. There were $440 million commercial paper borrowings outstanding as of December 31, 2021.
The Credit Agreement contains usual and customary restrictive covenants for facilities of its type, which include, with specified exceptions, limitations on the Company’s ability to create liens or other encumbrances, to enter into sale and leaseback transactions and to enter into consolidations, mergers or transfers of all or substantially all of its assets. The Credit Agreement also requires the Company to maintain a ratio of Total Indebtedness to Total Capitalization, as defined in the Credit Agreement, of 60% or less; provided, that for any fiscal quarter in which the Company has made an acquisition for consideration in excess of $1 billion and for the next five fiscal quarters thereafter, the ratio of Total Indebtedness to Total Capitalization may not exceed 65% at any time. As of December 31, 2022, Total Indebtedness to Total Capitalization as defined under the Credit Agreement was 49%.
The Credit Agreement contains, among other things, customary events of default that would permit the lenders to accelerate the loans, including the failure to make timely payments when due under the Credit Agreement or other material indebtedness, the failure to satisfy covenants contained in the Credit Agreement, a change in control of the Company and specified events of bankruptcy and insolvency.
Restrictive Covenants and Cross-Default Provisions
As of December 31, 2022, PPG was in full compliance with the restrictive covenants under its various credit agreements, loan agreements and indentures.
Additionally, the Company’s Credit Agreement contains customary cross-default provisions. These provisions provide that a default on a debt service payment of $50 million or more for longer than the grace period provided under another agreement may result in an event of default under this agreement. None of the Company’s primary debt obligations are secured or guaranteed by the Company’s affiliates.
Long-term Debt Maturities
($ in millions)Maturity per year
2023$303 
2024$1,396 
2025$959 
2026$698 
2027$642 
Thereafter$2,808 
Short-term Debt Obligations
($ in millions)20222021
Various, weighted average 2.7% and 0.7% as of December 31, 2022 and 2021, respectively. $10 $6 
Lines of Credit, Letters of Credit and Surety Bonds
PPG’s non-U.S. operations have uncommitted lines of credit totaling $539 million of which $4 million was used as of December 31, 2022. These uncommitted lines of credit are subject to cancellation at any time and are generally not subject to any commitment fees.
The Company had outstanding letters of credit and surety bonds of $231 million and $173 million as of December 31, 2022 and 2021, respectively. The letters of credit secure the Company’s performance to third parties under certain self-insurance programs and other commitments made in the ordinary course of business. The Company does not believe any loss related to these letters of credit or surety bonds is likely.
v3.22.4
Financial Instruments, Hedging Activities and Fair Value Measurements
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments, Hedging Activities and Fair Value Measurements Financial Instruments, Hedging Activities and Fair Value Measurements
Financial instruments include cash and cash equivalents, short-term investments, cash held in escrow, marketable equity securities, accounts receivable, company-owned life insurance, accounts payable, short-term and long-term debt instruments, and derivatives. The fair values of these financial instruments approximated their carrying values at December 31, 2022 and 2021, in the aggregate, except for long-term debt instruments.
Hedging Activities
The Company has exposure to market risk from changes in foreign currency exchange rates and interest rates. As a result, financial instruments, including derivatives, have been used to hedge a portion of these underlying economic exposures. Certain of these instruments qualify as fair value, cash flow, and net investment hedges upon meeting the requisite criteria, including effectiveness of offsetting hedged or underlying exposures. Changes in the fair value of derivatives that do not qualify for hedge accounting are recognized in Income before income taxes in the period incurred.
PPG’s policies do not permit speculative use of derivative financial instruments. PPG enters into derivative financial instruments with high credit quality counterparties and diversifies its positions among such counterparties in order to reduce its exposure to credit losses. The Company did not realize a credit loss on derivatives during the three-year period ended December 31, 2022.
All of PPG’s outstanding derivative instruments are subject to accelerated settlement in the event of PPG’s failure to meet its debt or payment obligations under the terms of the instruments’ contractual provisions. In addition, if the Company would be acquired and its payment obligations under its derivative instruments’ contractual arrangements are not assumed by the acquirer, or if PPG would enter into bankruptcy, receivership or reorganization proceedings, its outstanding derivative instruments would also be subject to accelerated settlement.
In 2022 and 2021, there were no derivative instruments de-designated or discontinued as a hedging instrument. There were no gains or losses deferred in Accumulated other comprehensive loss on the consolidated balance sheet that were reclassified to Income before income taxes in the consolidated statement of income during the three-year period ended December 31, 2022 related to hedges of anticipated transactions that were no longer expected to occur.
Fair Value Hedges
The Company uses interest rate swaps from time to time to manage its exposure to changing interest rates. When outstanding, the interest rate swaps are typically designated as fair value hedges of certain outstanding debt obligations of the Company and are recorded at fair value.
In February 2018, PPG entered into interest rate swaps which converted $525 million of fixed rate debt to variable rate debt. The swaps are designated as fair value hedges and are carried at fair value. Changes in the fair value of these swaps and changes in the fair value of the related debt are recorded in Interest expense in the accompanying consolidated statement of income. The fair value of these interest rate swaps was a liability of $20 million and an asset of $36 million at December 31, 2022 and 2021, respectively.
Cash Flow Hedges
At times, PPG designates certain foreign currency forward contracts as cash flow hedges of the Company’s exposure to variability in exchange rates on third party transactions denominated in foreign currencies. There were no outstanding cash flow hedges at December 31, 2022 and December 31, 2021, respectively.
Net Investment Hedges
PPG uses cross currency swaps and foreign currency euro-denominated debt to hedge a significant portion of its net investment in its European operations, as follows:
As of December 31, 2022 and December 31, 2021, PPG had U.S. dollar to euro cross currency swap contracts with total notional amounts of $775 million and designated these contracts as hedges of the Company's net investment in its European operations. During the term of these contracts, PPG will receive payment in U.S. dollars and make payments in euros to the counterparties. As of December 31, 2022 and 2021, the fair value of these contracts were net assets of $88 million and $50 million, respectively.
At December 31, 2022 and 2021, PPG had designated €2.5 billion and €1.4 billion, respectively, of euro-denominated borrowings as hedges of a portion of its net investment in the Company’s European operations. The carrying value of these instruments at December 31, 2022 and 2021 was $2.6 billion and $1.6 billion, respectively.
There were no foreign currency forward contracts designated as net investment hedges used or outstanding as of and for the periods ended December 31, 2022, 2021 and 2020.
Other Financial Instruments
PPG uses foreign currency forward contracts to manage net transaction exposures that do not qualify for hedge accounting; therefore, the change in the fair value of these instruments is recorded in Other (income)/charges, net in the consolidated statement of income in the period of change. Underlying notional amounts related to these foreign currency forward contracts were $1.8 billion and $1.9 billion at December 31, 2022 and 2021, respectively. The fair values of these contracts was a net asset of $24 million as of both December 31, 2022 and 2021.
Gains/Losses Deferred in Accumulated Other Comprehensive Loss
As of December 31, 2022 and 2021, the Company had accumulated pretax unrealized translation gains in Accumulated other comprehensive loss on the consolidated balance sheet related to the euro-denominated borrowings, foreign currency forward contracts, and the cross currency swaps of $327 million and $204 million, respectively.
The following table summarizes the amount of gains/(losses) deferred in Other comprehensive (loss)/income ("OCI") and the amount and location of gains recognized within the consolidated statement of income related to derivative and debt financial instruments for the years ended December 31, 2022, 2021 and 2020. All dollar amounts are shown on a pretax basis.
202220212020Caption in Consolidated Statement of Income
($ in millions)Gain Deferred in OCIGain RecognizedGain Deferred in OCIGain RecognizedLoss Deferred in OCIGain Recognized
Fair Value
Interest rate swaps$8 $15 $12 Interest expense
Total Fair Value$8 $15 $12 
Net Investment
Cross currency swaps$38 $16 $53 $13 ($57)$16 Interest expense
Foreign denominated debt85 — 173 — (200)— 
Total Net Investment$123 $16 $226 $13 ($257)$16 
Economic
Foreign currency forward contracts$43 $23 $30 Other (income)/charges, net
Fair Value Measurements
The Company follows a fair value measurement hierarchy to measure its assets and liabilities. As of December 31, 2022 and 2021, respectively, the assets and liabilities measured at fair value on a recurring basis were cash equivalents, equity securities and derivatives. In addition, the Company measures its pension plan assets at fair value (see Note 14, “Employee Benefit Plans” for further details). The Company’s financial assets and liabilities are measured using inputs from the following three levels:
Level 1 inputs are quoted prices in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date. Level 1 inputs are considered to be the most reliable evidence of fair value as they are based on unadjusted quoted market prices from various financial information service providers and securities exchanges.
Level 2 inputs are directly or indirectly observable prices that are not quoted on active exchanges, which include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. The fair values of the derivative instruments reflect the instruments’ contractual terms, including the period to maturity, and uses observable market-based inputs, including forward curves.
Level 3 inputs are unobservable inputs employed for measuring the fair value of assets or liabilities. The Company does not have any recurring financial assets or liabilities that are recorded in its consolidated balance sheets as of December 31, 2022 and 2021 that are classified as Level 3 inputs.
Assets and liabilities reported at fair value on a recurring basis
December 31, 2022December 31, 2021
($ in millions)Level 1Level 2Level 3Level 1Level 2Level 3
Assets:
Other current assets:   
Marketable equity securities$9 $— $— $6 $— $— 
Foreign currency forward contracts(a)
— 27 — — 28 — 
Cross currency swaps(b)
— 39 — — — — 
Investments:
Marketable equity securities$61 $— $— $98 $— $— 
Other assets:
Cross currency swaps(b)
$— $49 $— $— $50 $— 
Interest rate swaps(c)
— — — — 36 — 
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts(a)
$— $3 $— $— $4 $— 
Interest rate swaps(c)
— 1 — — — — 
Other liabilities:
Interest rate swaps(c)
$— $19 $— $— $— $— 
(a)    Derivatives not designated as hedging instruments
(b)    Net investment hedges
(c)    Fair value hedges
Long-Term Debt
($ in millions)
December 31, 2022 (a)
December 31, 2021 (b)
Long-term debt - carrying value$6,796$6,565
Long-term debt - fair value$6,375$6,958
(a)    Excluding finance lease obligations of $10 million and short term borrowings of $10 million as of December 31, 2022.
(b)    Excluding finance lease obligations of $10 million and short term borrowings of $6 million as of December 31, 2021.
The fair values of the debt instruments were measured using Level 2 inputs, including discounted cash flows and interest rates then currently available to the Company for instruments of the same remaining maturities.
v3.22.4
Earnings Per Common Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
($ in millions, except per share amounts)202220212020
Earnings per common share (attributable to PPG)
Income from continuing operations, net of tax$1,028 $1,420 $1,056 
(Loss)/income from discontinued operations, net of tax(2)19 3 
Net income (attributable to PPG)$1,026 $1,439 $1,059 
Weighted average common shares outstanding236.1 237.6 236.8 
Effect of dilutive securities:   
Stock options0.5 1.0 0.4 
Other stock compensation plans0.7 0.8 0.7 
Potentially dilutive common shares1.2 1.8 1.1 
Adjusted weighted average common shares outstanding237.3 239.4 237.9 
Earnings per common share (attributable to PPG)
Income from continuing operations, net of tax$4.35 $5.98 $4.46 
(Loss)/income from discontinued operations, net of tax(0.01)0.08 0.01 
Net income (attributable to PPG)$4.34 $6.06 $4.47 
Earnings per common share - assuming dilution (attributable to PPG)
Income from continuing operations, net of tax$4.33 $5.93 $4.44 
(Loss)/income from discontinued operations, net of tax(0.01)0.08 0.01 
Net income (attributable to PPG)$4.32 $6.01 $4.45 
Excluded from the computation of earnings per diluted share due to their antidilutive effect were 0.9 million, zero, and 1.4 million outstanding stock options in 2022, 2021 and 2020, respectively.
v3.22.4
Income Taxes
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The provision for income taxes by taxing jurisdiction and by significant components consisted of the following:
($ in millions)202220212020
Current   
U.S. federal$137 $25 $12 
U.S. state and local20 13 6 
Foreign325 301 320 
Total current income tax expense$482 $339 $338 
Deferred   
U.S. federal($79)$12 $1 
U.S. state and local(7)3 (3)
Foreign(71)20 (45)
Total deferred income tax (benefit)/expense($157)$35 ($47)
Total income tax expense$325 $374 $291 
A reconciliation of the statutory U.S. corporate federal income tax rate to the Company’s effective tax rate follows:
202220212020
U.S. federal income tax rate21.0 %21.0 %21.0 %
Changes in rate due to:   
Taxes on non-U.S. earnings3.6 2.7 3.3 
U.S. state and local taxes0.7 0.8 0.3 
U.S. tax (benefit)/cost on foreign operations(0.4)(1.6)0.1 
Tax benefits from equity awards(0.3)(0.3)(0.4)
Change in valuation allowance reserves0.6 — (1.4)
U.S. tax incentives(1.0)(0.6)(0.9)
Uncertain tax positions(0.4)(1.4)0.9 
Other(0.3)— (1.5)
Effective income tax rate23.5 %20.6 %21.4 %
The effective tax rate for the year-ended December 31, 2022 was 23.5%, an increase of 2.9% from the prior year primarily driven by charges associated with PPG’s operations in Russia along with a reduction in the release of reserves for uncertain tax positions compared to the prior year.
Income before income taxes of the Company’s U.S. operations for 2022, 2021 and 2020 was $288 million, $469 million and $190 million, respectively. Income before income taxes of the Company’s foreign operations for 2022, 2021 and 2020 was $1,093 million, $1,346 million and $1,172 million, respectively.
Deferred income taxes
Deferred income taxes are provided for the effect of temporary differences that arise because there are certain items treated differently for financial accounting than for income tax reporting purposes. The deferred tax assets and liabilities are determined by applying the enacted tax rate in the year in which the temporary difference is expected to reverse.
($ in millions)20222021
Deferred income tax assets related to
Employee benefits$275 $386 
Contingent and accrued liabilities67 74 
Operating loss and other carry-forwards218 278 
Operating lease liabilities203 215 
Research and development amortization149 68 
Other168 121 
Valuation allowance(182)(172)
Total$898 $970 
Deferred income tax liabilities related to  
Property$223 $278 
Intangibles720 814 
Employee benefits81 75 
Operating lease right-of-use assets206 216 
Other74 36 
Total$1,304 $1,419 
Deferred income tax liabilities – net($406)($449)
Net operating loss and credit carryforwards
($ in millions)20222021Expiration
Available net operating loss carryforwards, tax effected:
Indefinite expiration$84 $106 NA
Definite expiration66 77 2023-2042
Total$150 $183 
Income tax credit carryforwards$89 $115 2023-2042
A valuation allowance of $182 million and $172 million has been established for carry-forwards and certain other items at December 31, 2022 and 2021, respectively, when the ability to utilize them is not likely.
Undistributed foreign earnings
The Company had $4.6 billion of undistributed earnings of non-U.S. subsidiaries as of December 31, 2022. This amount relates to approximately 280 subsidiaries in approximately 80 taxable jurisdictions. The Company estimates repatriation of undistributed earnings of non-U.S. subsidiaries as of December 31, 2022 would result in a tax cost of $101 million.
As of December 31, 2022, the Company had not changed its intention to reinvest foreign earnings indefinitely or repatriate when it is tax effective to do so, and as such, has not established a liability for foreign withholding taxes or other costs that would be incurred if the earnings were repatriated.
Unrecognized tax benefits
The Company files federal, state and local income tax returns in numerous domestic and foreign jurisdictions. In most tax jurisdictions, returns are subject to examination by the relevant tax authorities for a number of years after the returns have been filed. The Company is no longer subject to examinations by tax authorities in any major tax jurisdiction for years before 2008. Additionally, the Company is no longer subject to examination by the Internal Revenue Service for U.S. federal income tax returns filed for years through 2016. The examinations of the Company’s U.S. federal income tax returns for 2017 and 2018 are currently underway.
A reconciliation of the total amounts of unrecognized tax benefits (excluding interest and penalties) as of December 31 follows:
($ in millions)202220212020
January 1$158 $175 $167 
Current year tax positions - additions19 12 25 
Prior year tax positions - additions2 10 5 
Prior year tax positions - reductions(2)(2)(2)
Statute of limitations expirations(23)(19)(8)
Settlements(3)(21)(11)
Foreign currency translation(6)3 (1)
December 31$145 $158 $175 
The Company expects that any reasonably possible change in the amount of unrecognized tax benefits in the next 12 months would not be significant. The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $120 million as of December 31, 2022.
Interest and penalties
($ in millions)202220212020
Accrued interest and penalties related to unrecognized tax benefits$17 $17 $18 
Loss/(income) recognized in income tax expense related to interest and penalties$1 ($2)$2 
The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.
v3.22.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Defined Benefit Plans
PPG has defined benefit pension plans that cover certain employees worldwide. The principal defined benefit pension plans are those in the U.S., Canada, Germany, the Netherlands and the U.K. These plans in the aggregate represent approximately 95% of PPG’s total projected benefit obligation at December 31, 2022, of which the U.S. defined benefit pension plans represent the largest component.
As of January 1, 2006, the Company’s U.S. salaried defined benefit plans were closed to new entrants. In 2011 and 2012, the Company approved amendments related to its U.S. and Canadian defined benefit plans pursuant to which employees stopped accruing benefits at certain dates based on the affected employee’s combined age and years of service to PPG. As of December 31, 2020, the Company’s U.S. and Canadian defined benefit plans were frozen for all participants. The Company plans to continue reviewing and potentially amending PPG defined benefit plans in the future.
Canadian pension annuity contracts
In December 2021, the Company purchased group annuity contracts that transferred pension benefit obligations for certain of the Company’s retirees in Canada who were receiving their monthly retirement benefit payments from PPG’s Canadian pension plans to a third-party insurance company. The amount of each affected retiree’s annuity payment is equal to the amount of such individual’s pension benefit. The purchase of group annuity contracts was funded directly by the assets of the Canadian plans. By transferring the obligations and assets to the insurance company, the Company reduced its overall pension projected benefit obligation by approximately $175 million and recognized a non-cash pension settlement charge of $50 million in the consolidated statement of income for the year ended December 31, 2021.
Postretirement medical
PPG sponsors welfare benefit plans that provide postretirement medical and life insurance benefits for certain U.S. and Canadian employees and their dependents of which the U.S. welfare benefit plans represent approximately 87% of PPG’s total projected benefit obligation at December 31, 2022. Salaried and certain hourly employees in the U.S. hired on or after October 1, 2004, or rehired on or after October 1, 2012 are not eligible for postretirement medical benefits. These plans in the U.S. and Canada require retiree contributions based on retiree-selected coverage levels for certain retirees and their dependents and provide for sharing of future benefit cost increases between PPG and participants based on management discretion. The Company has the right to modify, amend or terminate certain of these benefit plans in the future.
Effective January 1, 2017, the Company-sponsored Medicare-eligible plans were replaced by a Medicare private exchange. The announcement of this plan design change triggered a remeasurement of PPG’s retiree medical benefit obligation using prevailing interest rates. The plan design change resulted in a $306 million reduction in the Company's postretirement benefit obligation. PPG accounted for the plan design change prospectively, and the impact was amortized to periodic postretirement benefit cost over a 5.6 year period through mid-2022.
The following table sets forth the changes in projected benefit obligations (“PBO”), plan assets, the funded status and the amounts recognized on the accompanying consolidated balance sheet for the Company’s defined benefit pension and other postretirement benefit plans:
Defined Benefit Pension Plans
 United States International Total PPG
($ in millions)202220212022202120222021
Projected benefit obligation, January 1$1,920 $2,042 $1,614 $1,933 $3,534 $3,975 
Service cost— — 9 9 9 9 
Interest cost45 39 28 26 73 65 
Actuarial gains(449)(72)(485)(91)(934)(163)
Benefits paid(91)(89)(49)(60)(140)(149)
Acquisitions— — — 48 — 48 
Foreign currency translation adjustments— — (126)(51)(126)(51)
Settlements and curtailments— — (22)(198)(22)(198)
Other— — (8)(2)(8)(2)
Projected benefit obligation, December 31$1,425 $1,920 $961 $1,614 $2,386 $3,534 
Market value of plan assets, January 1$1,329 $1,335 $1,646 $1,881 $2,975 $3,216 
Actual return on plan assets(228)66 (506)42 (734)108 
Company contributions— — 11 10 11 10 
Benefits paid(73)(72)(41)(51)(114)(123)
Acquisitions— — — 3 — 3 
Plan settlements— — (22)(198)(22)(198)
Foreign currency translation adjustments— — (140)(38)(140)(38)
Other— — (2)(3)(2)(3)
Market value of plan assets, December 31$1,028 $1,329 $946 $1,646 $1,974 $2,975 
Funded Status($397)($591)($15)$32 ($412)($559)
Amounts recognized in the Consolidated Balance Sheet:
Other assets (long-term)— — 183 310 183 310 
Accounts payable and accrued liabilities(17)(23)(12)(12)(29)(35)
Accrued pensions(380)(568)(186)(266)(566)(834)
Net (liability)/asset recognized($397)($591)($15)$32 ($412)($559)
Other Postretirement Benefit Plans
 United States InternationalTotal PPG
($ in millions)202220212022202120222021
Projected benefit obligation, January 1$631 $682 $93 $104 $724 $786 
Service cost8 11 — 1 8 12 
Interest cost13 12 3 2 16 14 
Actuarial gains(154)(33)(20)(10)(174)(43)
Benefits paid(40)(41)(4)(4)(44)(45)
Foreign currency translation adjustments— — (6)— (6)— 
Projected benefit obligation, December 31$458 $631 $66 $93 $524 $724 
Amounts recognized in the Consolidated Balance Sheet:
Accounts payable and accrued liabilities(44)(47)(4)(5)(48)(52)
Other postretirement benefits(414)(584)(62)(88)(476)(672)
Net liability recognized($458)($631)($66)($93)($524)($724)
The PBO is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation (“ABO”) is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The ABO for all defined benefit pension plans as of December 31, 2022 and 2021 was $2.3 billion and $3.5 billion, respectively.
The following table details the pension plans where the benefit liability exceeds the fair value of the plan assets:
 Pensions
($ in millions)20222021
Plans with PBO in Excess of Plan Assets:
Projected benefit obligation$1,863 $2,232 
Fair value of plan assets$1,270 $1,366 
Plans with ABO in Excess of Plan Assets:
Accumulated benefit obligation$1,833 $2,197 
Fair value of plan assets$1,266 $1,362 
Net actuarial losses/(gains) and prior service cost/(credit) deferred in accumulated other comprehensive loss
PensionsOther Postretirement Benefits
($ in millions)2022202120222021
Accumulated net actuarial losses/(gains)$748 $857 ($16)$170 
Accumulated prior service cost/(credit)— 5 (10)(21)
Total$748 $862 ($26)$149 
The accumulated net actuarial losses (gains) for pensions and other postretirement benefits relate primarily to historical changes in the discount rates. The accumulated net actuarial losses exceeded 10% of the higher of the market value of plan assets or the PBO at the beginning of each of the last three years; therefore, amortization of such excess has been included in net periodic benefit costs for pension and other postretirement benefits in these periods. The amortization period is the average remaining service period of active employees expected to receive benefits unless a plan is mostly inactive in which case the amortization period is the average remaining life expectancy of the plan participants. Accumulated prior service cost (credit) is amortized over the future service periods of those employees who are active at the dates of the plan amendments and who are expected to receive benefits.
The net decrease in Accumulated other comprehensive loss (pretax) in 2022 relating to defined benefit pension and other postretirement benefits is primarily attributable to pension and other postretirement plan discount rate increases, as follows:
($ in millions)PensionsOther Postretirement Benefits
Net actuarial gain arising during the year($60)($174)
New prior service cost(5)— 
Amortization of actuarial loss(34)(12)
Amortization of prior service credit— 11 
Foreign currency translation adjustments(9)— 
Impact of settlements(6)— 
Net decrease($114)($175)
The 2022 net actuarial gain related to the Company’s pension and other postretirement benefit plans was primarily due to an increase in the weighted average discount rate used to determine the benefit obligation at December 31, 2022.
Net periodic benefit (income)/cost
PensionsOther Postretirement Benefits
($ in millions)202220212020202220212020
Service cost$9 $9 $24 $8 $12 $10 
Interest cost73 65 87 16 14 20 
Expected return on plan assets(140)(152)(144)— — — 
Amortization of prior service credit— — — (11)(54)(59)
Amortization of actuarial losses34 39 71 12 20 15 
Settlements, curtailments, and special termination benefits6 53 18 — — — 
Net periodic benefit (income)/cost($18)$14 $56 $25 ($8)($14)
Service cost for net periodic pension and other postretirement benefit costs is included in Cost of sales, exclusive of depreciation and amortization, Selling, general and administrative, and Research and development, net in the accompanying consolidated statements of income. Except for the Canadian pension settlement charge in 2021, all other components of net periodic benefit cost are recorded in Other (income)/charges, net in the accompanying consolidated statements of income.
Key assumptions
The following weighted average assumptions were used to determine the benefit obligation for the Company’s defined benefit pension and other postretirement plans as of December 31, 2022 and 2021:
United StatesInternationalTotal PPG
202220212022202120222021
Discount rate5.4 %2.8 %4.9 %2.0 %5.2 %2.5 %
Rate of compensation increase2.5 %2.5 %3.1 %2.8 %2.7 %2.6 %
The following weighted average assumptions were used to determine the net periodic benefit cost for the Company’s defined benefit pension and other postretirement benefit plans for the three years in the period ended December 31, 2022:
202220212020
Discount rate2.5 %2.1 %2.8 %
Expected return on assets5.0 %4.8 %5.0 %
Rate of compensation increase2.6 %1.5 %2.6 %
These assumptions for each plan are reviewed on an annual basis. In determining the expected return on plan asset assumption, the Company evaluates the mix of investments that comprise each plan’s assets and external forecasts of future long-term investment returns. The Company compares the expected return on plan assets assumption to actual historic returns to ensure reasonability. For 2022, the return on plan assets assumption for PPG’s U.S. defined benefit pension plans was 7.4%. A change in the rate of return of 75 basis points, with other assumptions held constant, would impact 2023 net periodic pension expense by $8 million. The global expected return on plan assets assumption to be used in determining 2023 net periodic pension expense will be 6.5% (7.4% for the U.S. plans only).
The discount rates used in accounting for pension and other postretirement benefits are determined using a yield curve constructed of high-quality fixed-income securities as of the measurement date and using the plans’ projected benefit payments. The Company has elected to use a full yield curve approach in the estimation of the service and interest cost components of net periodic pension benefit cost (income) for countries with significant pension plans. The full yield curve approach (also known as the split-rate or spot-rate method) allows the Company to align the applicable discount rates with the cost of additional service being earned and the interest being accrued on these obligations. A change in the discount rate of 75 basis points, with all other assumptions held constant, would impact 2023 net periodic benefit expense for our defined benefit pension and other postretirement benefit plans by $5 million and $1 million, respectively.
The weighted-average health care cost trend rate (inflation) used for 2022 was 5.4% declining to a projected 4.0% in the year 2046. For 2023, the assumed weighted-average health care cost trend rate used will be 5.8% declining to a projected 3.9% between 2023 and 2047 for medical and prescription drug costs, respectively. These assumptions are reviewed on an annual basis. In selecting rates for current and long-term health care cost assumptions, the Company takes into consideration a number of factors, including the Company’s actual health care cost increases, the design of the Company’s benefit programs, the demographics of the Company’s active and retiree populations and external expectations of future medical cost inflation rates.
Contributions to defined benefit pension plans
($ in millions)202220212020
Non-U.S. defined benefit pension plans$11 $10 $17 
Contributions made to PPG’s non-U.S. defined benefit pension plans in 2022, 2021, and 2020 were required by local funding requirements. PPG expects to make contributions to its defined benefit pension plans in the range of $10 million to $20 million in 2023. PPG may make voluntary contributions to its defined benefit pension plans in 2023 and beyond.
Benefit payments
The estimated benefits expected to be paid under the Company’s defined benefit pension and other postretirement benefit plans are:
($ in millions)PensionsOther Postretirement Benefits
2023$148 $48 
2024$166 $47 
2025$153 $46 
2026$157 $43 
2027$160 $42 
2028 to 2032$825 $192 
Plan assets
Each PPG sponsored defined benefit pension plan is managed in accordance with the requirements of local laws and regulations governing defined benefit pension plans for the exclusive purpose of providing pension benefits to participants and their beneficiaries. Investment committees comprised of PPG managers have fiduciary responsibility to oversee the management of pension plan assets by third party asset managers. Pension plan assets are held in trust by financial institutions and managed on a day-to-day basis by the asset managers. The asset managers receive a mandate from each investment committee that is aligned with the asset allocation targets established by each investment committee to achieve the plan’s investment strategies. The performance of the asset managers is monitored and evaluated by the investment committees throughout the year. 
Pension plan assets are invested to generate investment earnings over an extended time horizon to help fund the cost of benefits promised under the plans while mitigating investment risk. The asset allocation targets established for each pension plan are intended to diversify the investments among a variety of asset categories and among a variety of individual securities within each asset category to mitigate investment risk and provide each plan with sufficient liquidity to fund the payment of pension benefits to retirees.
The following summarizes the weighted average target pension plan asset allocation as of December 31, 2022 and 2021 for all PPG defined benefit plans:
Asset Category20222021
Equity securities15-45%15-45%
Debt securities30-65%30-65%
Real estate0-10%0-10%
Other20-40%20-40%
The fair values of the Company’s pension plan assets at December 31, 2022 and 2021, by asset category, are as follows:
December 31, 2022December 31, 2021
($ in millions)
Level 1(1)
Level 2(1)
Level 3(1)
Total
Level 1(1)
Level 2(1)
Level 3(1)
Total
Asset Category     
Equity securities:     
U.S.     
Large cap$66 $43 $— $109 $79 $78 $— $157 
Small cap25 — — 25 48 — — 48 
Non-U.S.        
Developed and emerging markets(2)
99 43 — 142 130 76 — 206 
Debt securities:        
Cash and cash equivalents7 47 — 54 8 42 — 50 
Corporate(3)
        
U.S.(4)
— 168 80 248 — 232 100 332 
Developed and emerging markets(2)
— 1 — 1 — 1 — 1 
Diversified(5)
— 13 — 13 — 57 — 57 
Government        
U.S.(4)
49 10 — 59 68 13 — 81 
Developed and emerging markets(2)
— 6 — 6 — 10 — 10 
Other(6)
— — 235 235 — — 367 367 
Real estate, hedge funds, and other— 275 362 637 — 562 487 1,049 
Total assets in the fair value hierarchy$246 $606 $677 $1,529 $333 $1,071 $954 $2,358 
Common-collective trusts(7)
— — — 445 — — — 617 
Total Investments$246 $606 $677 $1,974 $333 $1,071 $954 $2,975 
(1)These levels refer to the accounting guidance on fair value measurement described in Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements.”
(2)These amounts represent holdings in investment grade debt or equity securities of issuers in both developed markets and emerging economies.
(3)This category represents investment grade debt securities from a diverse set of industry issuers.
(4)These investments are primarily long duration fixed income securities.
(5)This category represents commingled funds invested in diverse portfolios of debt securities.
(6)This category includes mortgage-backed and asset backed debt securities, municipal bonds and other debt securities including derivatives.
(7)Certain investments that are measured at net asset value per share (or its equivalent) are not required to be classified in the fair value hierarchy.
The change in the fair value of the Company’s Level 3 pension assets for the years ended December 31, 2022 and 2021 was as follows:
($ in millions)Real EstateOther Debt SecuritiesHedge Funds and Other AssetsTotal
January 1, 2021
$124 $421 $371 $916 
Realized gains/(losses)3 (11)9 1 
Unrealized gains22 — 8 30 
Transfers in/(out), net8 (14)44 38 
Foreign currency losses— (29)(2)(31)
December 31, 2021$157 $367 $430 $954 
Realized gains/(losses)1 (99)(1)(99)
Unrealized gains/(losses)6 — (3)3 
Transfers out, net(10)(12)(100)(122)
Foreign currency losses(5)(21)(33)(59)
December 31, 2022$149 $235 $293 $677 
Real estate properties are externally appraised at least annually by reputable, independent appraisal firms. Property valuations are also reviewed on a regular basis and are adjusted if there has been a significant change in circumstances related to the property since the last valuation.
Other debt securities consist of insurance contracts, which are valued externally by insurance companies based on the present value of the expected future cash flows.
Hedge funds consist of a wide range of investments which target a relatively stable investment return. The underlying funds are valued at different frequencies, some monthly and some quarterly, based on the value of the underlying investments. Other assets consist primarily of small investments in private equity funds and senior secured debt obligations of non-investment grade borrowers.
Other Plans
Employee savings plans
PPG’s Employee Savings Plans (“Savings Plans”) cover substantially all employees in the U.S., Puerto Rico and Canada. The Company makes matching contributions to the Savings Plans, at management’s discretion, based upon participants’ savings, subject to certain limitations. For most participants, Company-matching contributions are established each year at the discretion of the Company and are applied to participant accounts up to a maximum of 6% of eligible participant compensation. The Company-matching contribution remained at 100% for 2022.
Compensation expense and cash contributions related to the Company match of participant contributions to the Savings Plans for 2022, 2021, and 2020 totaled $56 million, $52 million and $50 million, respectively. A portion of the Savings Plans qualifies under the Internal Revenue Code as an Employee Stock Ownership Plan. Accordingly, dividends received on PPG shares held in that portion of the Savings Plans totaling $11 million, $10 million, and $11 million for 2022, 2021, and 2020, respectively, are deductible for PPG’s U.S. Federal tax purposes.
Defined contribution plans
Additionally, the Company has defined contribution plans for certain employees in the U.S., China, United Kingdom, Australia, Italy and other countries. The U.S. defined contribution plan is part of the Employee Savings Plan, and eligible employees receive a contribution equal to between 2% and 5% of annual compensation, based on age and years of service. For the years ended December 31, 2022, 2021 and 2020, the Company recognized expense for its defined contribution retirement plans of $92 million, $88 million and $64 million, respectively. The Company’s annual cash contributions to its defined contribution retirement plans approximated the expense recognized in each year.
Deferred compensation plan
The Company has a deferred compensation plan for certain key managers which allows them to defer a portion of their compensation in a phantom PPG stock account or other phantom investment accounts. The amount deferred earns a return based on the investment options selected by the participant. The amount owed to participants is an unfunded and unsecured general obligation of the Company. Upon retirement, death, disability, termination of employment, scheduled payment or unforeseen emergency, the compensation deferred and related accumulated earnings are distributed in accordance with the participant’s election in cash or in PPG stock, based on the accounts selected by the participant.
The plan provides participants with investment alternatives and the ability to transfer amounts between the phantom non-PPG stock investment accounts. To mitigate the impact on compensation expense of changes in the market value of the liability, the Company has purchased a portfolio of marketable securities that mirror the phantom non-PPG stock investment accounts selected by the participants, except the money market accounts. These investments are carried by PPG at fair market value, and the changes in market value of these securities are also included in Income before income taxes in the consolidated statement of income. Trading occurs in this portfolio to align the securities held with the participant’s phantom non-PPG stock investment accounts, except the money market accounts.
The cost of the deferred compensation plan, comprised of dividend equivalents accrued on the phantom PPG stock account, investment income and the change in market value of the liability, was $23 million, $20 million and $25 million in 2022, 2021 and 2020, respectively. These amounts are included in Selling, general and administrative in the consolidated statements of income. The change in market value of the investment portfolio was income of $24 million, $18 million, and $24 million in 2022, 2021 and 2020, respectively, and is also included in Selling, general and administrative in the consolidated statements of income.
The Company’s obligations under this plan, which are included in Accounts payable and accrued liabilities and Other liabilities on the consolidated balance sheet, totaled $105 million and $139 million as of December 31, 2022 and 2021, respectively, and the investments in marketable securities, which are included in Investments and Other current assets on the accompanying consolidated balance sheet, were $70 million and $104 million as of December 31, 2022 and 2021, respectively.
v3.22.4
Commitments and Contingent Liabilities
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities Commitments and Contingent Liabilities PPG is involved in a number of lawsuits and claims, both actual and potential, including some that it has asserted against others, in which substantial monetary damages are sought. These lawsuits and claims may relate to contract, patent, environmental, product liability, antitrust, employment and other matters arising out of the conduct of PPG’s current and past business activities. To the extent that these lawsuits and claims involve personal injury, property damage and certain other claims, PPG believes it has adequate insurance; however, certain of PPG’s insurers are contesting coverage with
respect to some of these claims, and other insurers may contest coverage with respect to some claims in the future. PPG’s lawsuits and claims against others include claims against insurers and other third parties with respect to actual and contingent losses related to environmental, asbestos and other matters.
The results of any current or future litigation and claims are inherently unpredictable. However, management believes that, in the aggregate, the outcome of all lawsuits and claims involving PPG will not have a material effect on PPG’s consolidated financial position or liquidity; however, such outcome may be material to the results of operations of any particular period in which costs, if any, are recognized.
Asbestos Matters
As of December 31, 2022, the Company was aware of certain asbestos-related claims pending against the Company and certain of its subsidiaries. The Company is defending these asbestos-related claims vigorously. The asbestos-related claims consist of claims against the Company alleging:
•exposure to asbestos or asbestos-containing products manufactured, sold or distributed by the Company or its subsidiaries (“Products Claims”);
•personal injury caused by asbestos on premises presently or formerly owned, leased or occupied by the Company (“Premises Claims”); and
•asbestos-related claims against a subsidiary the Company acquired in 2013 (“Subsidiary Claims”).
The Company monitors and reviews the activity associated with its asbestos claims and evaluates, on a periodic basis, its estimated liability for such claims and all underlying assumptions to determine whether any adjustment to the reserves for these claims is required. Additionally, as a supplement to its periodic monitoring and review, the Company conducts discussions with counsel and engages valuation consultants to analyze its claims history and estimate the amount of the Company’s potential liability for asbestos-related claims.
In 2022, no adjustments to the Company’s estimate of its asbestos-related liabilities were required.
In 2021, based on the results of the Company’s valuation analysis, the Company reduced its estimate of potential liability for Products Claims by $146 million. The 2021 valuation analysis with respect to Products Claims was based, in part, upon a review of claims data following the expiration in May 2016 of the U.S. Bankruptcy Court’s injunction staying most asbestos claims against the Company that had been in effect since April 2000; annual filings by disease and year; pending, paid and dismissed claims; indemnity cash flows; and estimates of future claim, indemnity and acceptance rates. The Company also adjusted its estimates of potential liability for Premises Claims and Subsidiary Claims in the fourth quarter of 2021.
As a result of the Company’s 2021 review of its asbestos-related liabilities, income of $133 million was recorded in the consolidated statement of income to reduce the reserve to reflect the Company’s current estimate of potential liability for asbestos-related bodily injury claims through December 31, 2057.
As of December 31, 2022 and 2021, the Company’s asbestos-related reserves totaled $51 million and $54 million, respectively.
The Company believes that, based on presently available information, the total reserves of $51 million for asbestos-related claims will be sufficient to encompass all of the Company’s current and estimable potential future asbestos liabilities. These reserves, which are included within Other liabilities on the accompanying consolidated balance sheets, involve significant management judgment and represent the Company’s current best estimate of its liability for these claims.
The amount reserved for asbestos-related claims by its nature is subject to many uncertainties that may change over time, including (i) the ultimate number of claims filed; (ii) whether closed, dismissed or dormant claims are reinstituted, reinstated or revived; (iii) the amounts required to resolve both currently known and future unknown claims; (iv) the amount of insurance, if any, available to cover such claims; (v) the unpredictable aspects of the tort system, including a changing trial docket and the jurisdictions in which trials are scheduled; (vi) the outcome of any trials, including potential judgments or jury verdicts; (vii) the lack of specific information in many cases concerning exposure for which the Company is allegedly responsible, and the claimants’ alleged diseases resulting from such exposure; and (viii) potential changes in applicable federal and/or state tort liability law. All of these factors may have a material effect upon future asbestos-related liability estimates. While the ultimate outcome of the Company’s asbestos litigation cannot be predicted with certainty, the Company believes that any financial exposure resulting from its asbestos-related claims will not have a material adverse effect on the Company’s consolidated financial position, liquidity or results of operations.
Environmental Matters
In management’s opinion, the Company operates in an environmentally sound manner and the outcome of the Company’s environmental contingencies will not have a material effect on PPG’s financial position or liquidity; however, any such
outcome may be material to the results of operations of any particular period in which costs, if any, are recognized. Management anticipates that the resolution of the Company’s environmental contingencies will occur over an extended period of time.
As remediation at certain environmental sites progresses, PPG continues to refine its assumptions underlying the estimates of the expected future costs of its remediation programs. PPG’s ongoing evaluation may result in additional charges against income to adjust the reserves for these sites. In 2022, 2021 and 2020, certain charges have been recorded based on updated estimates to increase existing reserves for these sites. Certain other charges related to environmental remediation actions are expensed as incurred.
As of December 31, 2022 and 2021, PPG had reserves for environmental contingencies associated with PPG’s former chromium manufacturing plant in Jersey City, New Jersey (“New Jersey Chrome”), glass and chemical manufacturing sites, and for other environmental contingencies, including current manufacturing locations and National Priority List sites. These reserves are reported as Accounts payable and accrued liabilities and Other liabilities in the accompanying consolidated balance sheet.
Environmental Reserves
($ in millions)20222021
New Jersey Chrome$58 $89 
Glass and chemical60 83 
Other99 110 
Total$217 $282 
Current Portion$50 $97 
Pretax charges against income for environmental remediation costs are included in Other (income)/charges, net in the accompanying consolidated statement of income. The pretax charges and cash outlays related to such environmental remediation in 2022, 2021 and 2020, were as follows:
($ in millions)202220212020
New Jersey Chrome$— $25 $15 
Glass and chemical3 12 15 
Other10 7 8 
Total$13 $44 $38 
Cash outlays for environmental spending$78 $56 $60 
In the fourth quarter 2021, PPG released an environmental reserve previously established at the time of the sale of the flat glass business under the terms of the separation agreement, resulting in recognition of $25 million of income from discontinued operations, or $19 million net of tax.
The Company continues to analyze, assess and remediate the environmental issues associated with New Jersey Chrome as further discussed below. Excluding the charges related to New Jersey Chrome, pretax charges against income for environmental remediation have ranged between approximately $5 million and $35 million per year for the past 10 years.
Management expects cash outlays for environmental remediation costs to range from $40 million to $60 million in 2023, and $20 million to $75 million annually from 2024 through 2027.
Actual future cash outlays may vary from expected future cash outlays and actual future costs may vary from accrued estimates due to the inherent uncertainties involved in estimating future environmental remediation costs, including possible technological, regulatory and enforcement developments, the results of environmental studies and other factors. Specifically, the level of expected future remediation costs and cash outlays is highly dependent upon activity related to New Jersey Chrome as discussed below.
Remediation: New Jersey Chrome
In June 2009, PPG entered into a settlement agreement with the New Jersey Department of Environmental Protection (“NJDEP”) and Jersey City, New Jersey (which had asserted claims against PPG for lost tax revenue) which was in the form of a Judicial Consent Order (the "JCO"). Under the JCO, PPG accepted sole responsibility for the remediation activities at its former chromium manufacturing location in Jersey City and a number of additional surrounding sites. Remediation of the New Jersey Chrome sites requires PPG to remediate soil and groundwater contaminated by hexavalent chromium, as well as perform certain other environmental remediation activities. The most significant assumptions underlying the estimate of remediation costs for all New Jersey Chrome sites relate to the extent and concentration of chromium in the soil.
PPG regularly evaluates the assessments of costs incurred to date versus current progress and the potential cost impacts of the most recent information, including the extent of impacted soils, percentage of hazardous versus non-hazardous soils, daily soil excavation rates, and engineering, administrative and other associated costs. Based on these
assessments, the reserve is adjusted accordingly. As of December 31, 2022 and 2021, PPG’s reserve for remediation of all New Jersey Chrome sites was $58 million and $89 million, respectively. The major cost components of this liability are related to excavation of impacted soil, as well as groundwater remediation. These components each account for approximately 65% and 15% of the amount accrued at December 31, 2022, respectively.
There are multiple, future events yet to occur, including further remedy selection and design, remedy implementation and execution and applicable governmental agency or community organization approvals. Considerable uncertainty exists regarding the timing of these future events for the New Jersey Chrome sites. Further resolution of these events is expected to occur over the next several years. As these events occur and to the extent that the cost estimates of the environmental remediation remedies change, the existing reserve for this environmental remediation matter will continue to be adjusted.
Remediation: Glass, Chemicals and Other Sites
Among other sites at which PPG is managing environmental liabilities, remedial actions are occurring at a chemical manufacturing site in Barberton, Ohio where PPG has completed a Facility Investigation and Corrective Measure Study under the United States Environmental Protection Agency's Resource Conservation and Recovery Act Corrective Action Program. PPG has also been addressing the impacts from a legacy plate glass manufacturing site in Kokomo, Indiana under the Voluntary Remediation Program of the Indiana Department of Environmental Management and a site associated with a legacy plate glass manufacturing site near Ford City, Pennsylvania under the Pennsylvania Land Recycling Program under the oversight of the Pennsylvania Department of Environmental Protection. PPG is currently performing additional investigation and remedial activities at these locations.
With respect to certain other waste sites, the financial condition of other potentially responsible parties also contributes to the uncertainty of estimating PPG’s final costs. Although contributors of waste to sites involving other potentially responsible parties may face governmental agency assertions of joint and several liability, in general, final allocations of costs are made based on the relative contributions of wastes to such sites. PPG is generally not a major contributor to such sites.
Remediation: Reasonably Possible Matters
In addition to the amounts currently reserved for environmental remediation, the Company may be subject to loss contingencies related to environmental matters estimated to be as much as $100 million to $200 million. Such unreserved losses are reasonably possible but are not currently considered to be probable of occurrence. These reasonably possible unreserved losses relate to environmental matters at a number of sites, none of which are individually significant. The loss contingencies related to these sites include significant unresolved issues such as the nature and extent of contamination at these sites and the methods that may have to be employed to remediate them.
The impact of evolving programs, such as natural resource damage claims, industrial site re-use initiatives and domestic and international remediation programs, also adds to the present uncertainties with regard to the ultimate resolution of this unreserved exposure to future loss. The Company’s assessment of the potential impact of these environmental contingencies is subject to considerable uncertainty due to the complex, ongoing and evolving process of investigation and remediation, if necessary, of such environmental contingencies, and the potential for technological and regulatory developments.
v3.22.4
Shareholders' Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
A class of 10 million shares of preferred stock, without par value, is authorized but unissued. Common stock has a par value of $1.66 2/3 per share; 1.2 billion shares are authorized.
Common StockTreasury StockShares Outstanding
January 1, 2020
581,146,136 (345,465,666)235,680,470 
Issuances— 1,005,795 1,005,795 
December 31, 2020581,146,136 (344,459,871)236,686,265 
Purchases— (1,521,765)(1,521,765)
Issuances— 742,526 742,526 
December 31, 2021581,146,136 (345,239,110)235,907,026 
Purchases— (1,269,830)(1,269,830)
Issuances — 436,730 436,730 
December 31, 2022581,146,136 (346,072,210)235,073,926 
Per share cash dividends paid were $2.42, $2.26 and $2.10 in 2022, 2021 and 2020, respectively.
v3.22.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (AOCL)
($ in millions)
Foreign Currency Translation Adjustments(1)
Pension and Other Postretirement Benefit Adjustments, net of tax(2)
Unrealized Gain on Derivatives, net of taxAccumulated Other Comprehensive Loss
January 1, 2020($1,627)($724)$1 ($2,350)
Current year deferrals to AOCL(36)(237)— (273)
Reclassifications from AOCL to net income— 24 — 24 
December 31, 2020($1,663)($937)$1 ($2,599)
Current year deferrals to AOCL(325)132 — (193)
Reclassifications from AOCL to net income— 42 — 42 
December 31, 2021($1,988)($763)$1 ($2,750)
Current year deferrals to AOCL(301)175 — (126)
Reclassifications from AOCL to net income35 31 — 66 
December 31, 2022($2,254)($557)$1 ($2,810)
(1)The tax cost/(benefit) related to unrealized foreign currency translation adjustments on net investment hedges as of December 31, 2022, 2021 and 2020 was $73 million, $55 million and $(6) million, respectively.
(2)The tax cost/(benefit) related to the adjustment for pension and other postretirement benefits as of December 31, 2022, 2021 and 2020 was $83 million, $48 million and $(70) million, respectively. Reclassifications from AOCL are included in the computation of net periodic benefit costs (see Note 14, “Employee Benefit Plans").
v3.22.4
Other (Income)/Charges, Net
 12 Months Ended
Dec. 31, 2022
Other Income and Expenses [Abstract]  
Other Earnings Other (Income)/Charges, Net
($ in millions)202220212020
Gain on sale of assets(1)
($10)($47)($5)
Royalty income(8)(8)(7)
Share of net earnings of equity affiliates (See Note 5)
(25)(15)(8)
Income from legal settlements— (22)— 
Other, net(17)(51)56 
Total (income)/charges, net($60)($143)$36 
(1)In 2021, PPG recognized a $34 million gain on the sale of a production facility in connection with the Company’s manufacturing footprint consolidation plans and associated restructuring programs.
v3.22.4
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2022
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The Company’s stock-based compensation includes stock options, restricted stock units (“RSUs”) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return. All current grants of stock options, RSUs and contingent shares are made under the PPG Industries, Inc. Amended and Restated Omnibus Incentive Plan (“PPG Amended Omnibus Plan”), which was amended and restated effective April 21, 2016.
($ in millions)202220212020
Total stock-based compensation$35 $57 $44 
Income tax benefit recognized$8 $12 $10 
Stock Options
PPG has outstanding stock option awards that have been granted under the PPG Amended Omnibus Plan. Under the PPG Amended Omnibus Plan, certain employees of the Company have been granted options to purchase shares of common stock at prices equal to the fair market value of the shares on the date the options were granted. The options are generally exercisable 36 months after being granted and have a maximum term of 10 years. Upon exercise of a stock option, shares of Company stock are issued from treasury stock.
The fair value of stock options issued to employees is measured on the date of grant and is recognized as expense, net of estimated forfeitures, over the requisite service period. PPG estimates the fair value of stock options using the Black-Scholes option pricing model. The risk-free interest rate is determined by using the U.S. Treasury yield curve at the date of the grant and using a maturity equal to the expected life of the option. The expected life of options is calculated using the average of the vesting term and the maximum term, as prescribed by accounting guidance on the use of the simplified method for determining the expected term of an employee share option. The expected dividend yield and volatility are based on historical stock prices and dividend amounts over past time periods equal in length to the expected life of the options. PPG applies an estimated forfeiture rate that is calculated based on historical activity.
The following weighted average assumptions were used to calculate the fair values of stock option grants in each year:
202220212020
Weighted average exercise price$151.87 $136.60 $119.52 
Risk-free interest rate2.0 %1.0 %1.6 %
Expected life of option in years6.56.56.5
Expected dividend yield1.6 %1.6 %1.5 %
Expected volatility25.7 %25.3 %20.0 %
The weighted average fair value of options granted was $36.52 per share, $29.27 per share and $21.93 per share for the years ended December 31, 2022, 2021, and 2020, respectively.
Stock Options Outstanding and ExercisableNumber of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Life (in years)Intrinsic Value (in millions)
Outstanding, January 1, 2022
3,340,402 $110.98 6.1
Granted487,277 $151.87   
Exercised(158,837)$77.24   
Forfeited/Expired(151,391)$134.34   
Outstanding, December 31, 2022
3,517,451 $117.16 5.7$47 
Vested or expected to vest, December 31, 2022
3,444,650 $116.57 5.6$47 
Exercisable, December 31, 2022
2,039,716 $104.58 4.0$43 
At December 31, 2022, unrecognized compensation cost related to outstanding stock options that have not yet vested totaled $7 million. This cost is expected to be recognized as expense over a weighted average period of 1.4 years.
The following table presents stock option activity for the years ended December 31, 2022, 2021 and 2020:
($ in millions)202220212020
Total intrinsic value of stock options exercised$12 $32 $31 
Cash received from stock option exercises$12 $47 $54 
Income tax benefit from the exercise of stock options$3 $8 $7 
Total fair value of stock options vested$16 $11 $11 
Restricted Stock Units (“RSUs”)
Long-term incentive value is delivered to selected key management employees by granting RSUs, which have either time or performance-based vesting features. The fair value of an RSU is equal to the market value of a share of PPG common stock on the date of grant. Time-based RSUs generally vest over the three-year period following the date of grant, unless forfeited, and will be paid out in the form of stock, cash or a combination of both at the Company’s discretion at the end of the three year vesting period. Performance-based RSUs vest based on achieving specific annual performance targets for earnings per share growth and cash flow return on capital over the three calendar year-end periods following the date of grant. Unless forfeited, the performance-based RSUs will be paid out in the form of stock, cash or a combination of both at the Company’s discretion at the end of the three-year performance period if PPG meets the performance targets.
The amount paid upon vesting of performance-based RSUs may range from 0% to 200% of the original grant, based upon the level of earnings per share growth achieved and frequency with which the annual cash flow return on capital performance target is met over the three calendar year periods comprising the vesting period. Performance against the earnings per share growth and the cash flow return on capital goal is calculated annually, and the annual payout for each goal will be weighted equally over the three-year period. The performance-based RSUs granted in 2020 vested at 100%. PPG has assumed that performance-based RSUs granted in 2021 and 2022 will both vest at the 100% level.
RSU ActivityNumber of SharesWeighted Average Grant Date Fair Value
Outstanding, January 1, 2022
622,055 $125.92 
Granted232,050 $147.77 
Vested(199,642)$147.36 
Forfeited(65,075)$122.60 
Outstanding, December 31, 2022
589,388 $136.99 
Vested or expected to vest, December 31, 2022
563,900 $136.67 
There was $20 million of total unrecognized compensation cost related to unvested RSUs outstanding as of December 31, 2022. This cost is expected to be recognized as expense over a weighted average period of 1.5 years.
Contingent Share Grants
The Company also provides grants of contingent shares to selected key executives that may be earned based on PPG’s total shareholder return (“TSR”) over the three-year period following the date of grant. Contingent share grants (referred to as “TSR awards”) are made annually and are paid out at the end of each three-year period based on the Company’s performance. Performance is measured by determining the percentile rank of the total shareholder return of PPG common stock in relation to the total shareholder return of the S&P 500 for the three-year period following the date of grant. This comparison group represents the entire S&P 500 Index as it existed at the beginning of the performance period, excluding any companies that have been removed from the index because they ceased to be publicly traded. The payout is based on performance achieved during the three-year period calculated in accordance with the scale set forth in the plan agreement and may range from 0% to 200% of the initial grant. A payout of 100% is earned if the target performance is achieved. Contingent share awards earn dividend equivalents for the award period, which will be paid to participants or credited to the participants’ deferred compensation plan accounts with the award payout at the end of the period based on the actual number of contingent shares earned. Any payments made at the end of the award period may be in the form of stock, cash or a combination of both. The TSR awards are classified as liability awards, and compensation expense is recognized over the three-year award period based on the fair value of the awards (giving consideration to the Company’s percentile rank of total shareholder return) remeasured in each reporting period until settlement of the awards.
The performance period for the TSR shares granted in 2020 ended on December 31, 2022, and PPG’s total shareholder return was measured against that of the S&P 500 over the three‑year period. PPG’s ranking on this performance measure was at the 28th percentile, resulting in no payout.
As of December 31, 2022, there was $2 million of total unrecognized compensation cost related to outstanding TSR awards based on the current estimate of fair value. This cost is expected to be recognized as expense over a weighted average period of 2.0 years.
v3.22.4
Revenue Recognition
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company recognizes revenue when control of the promised goods or services is transferred to the customer and in amounts that the Company expects to collect. The timing of revenue recognition takes into consideration the various shipping terms applicable to the Company’s sales. For most transactions, control passes in accordance with agreed upon delivery terms.
The Company delivers products to company-owned stores, home centers and other regional or national consumer retail outlets, paint dealers, concessionaires and independent distributors, company-owned distribution networks, and directly to manufacturing companies and retail customers. Each product delivered to a third party customer is considered to satisfy a performance obligation. Performance obligations generally occur at a point in time and are satisfied when control of the goods passes to the customer. The Company is entitled to collection of the sales price under normal credit terms in the regions in which it operates. Accounts receivable are recognized when there is an unconditional right to consideration. Payment terms vary from customer to customer, depending on creditworthiness, prior payment history and other considerations.
The Company also provides services by applying coatings to customers' manufactured parts and assembled products and by providing technical support to certain customers. Performance obligations are satisfied over time as critical milestones are met and as services are provided. PPG is entitled to payment as the services are rendered. For the years ended December 31, 2022, 2021 and 2020, service revenue constituted less than 5% of total revenue.
Net sales by segment and region for the years ended December 31, 2022, 2021 and 2020 were as follows:
($ in millions)202220212020
Performance Coatings
United States and Canada$4,718 $4,366 $3,673 
EMEA3,550 3,582 2,861 
Asia Pacific1,118 1,254 1,015 
Latin America1,308 1,131 946 
Total$10,694 $10,333 $8,495 
Industrial Coatings
United States and Canada$2,666 $2,310 $1,995 
EMEA1,908 1,854 1,467 
Asia Pacific1,705 1,723 1,416 
Latin America679 582 461 
Total$6,958 $6,469 $5,339 
Total Net Sales(1)
United States and Canada(2)
$7,384 $6,676 $5,668 
EMEA5,458 5,436 4,328 
Asia Pacific2,823 2,977 2,431 
Latin America1,987 1,713 1,407 
Total PPG$17,652 $16,802 $13,834 
(1)Net sales to external customers are attributed to geographic regions based upon the location of the operating unit shipping the product.
(2)Net sales recognized in the United States represented 38%, 36%, and 37% of the Company’s total Net sales for the years ended December 31, 2022, 2021 and 2020, respectively.
Allowance for Doubtful Accounts
All trade receivables are reported on the consolidated balance sheet at the outstanding principal amount adjusted for any allowance for doubtful accounts and any charge-offs. PPG provides an allowance for doubtful accounts to reduce trade receivables to their estimated net realizable value equal to the amount that is expected to be collected. This allowance is estimated based on historical collection experience, current regional economic and market conditions, the aging of accounts receivable, assessments of current creditworthiness of customers and forward-looking information. The use of forward-looking information is based on certain macroeconomic and microeconomic indicators including, but not limited to, regional business environment risk, political risk, and commercial and financing risks.
PPG reviews its allowance for doubtful accounts on a quarterly basis to ensure the estimate reflects regional risk trends as well as current and future global operating conditions.
The following table summarizes allowance for doubtful accounts activity for the years ended December 31, 2022 and 2021:
Trade Receivables Allowance for Doubtful Accounts
($ in millions)20222021
January 1$31 $44 
Bad debt expense52 19 
Recoveries of previously reserved trade receivables(55)(14)
Other3 (18)
December 31$31 $31 
In the first quarter 2022, PPG recorded a bad debt reserve of $43 million associated with the adverse economic impacts of the Russian invasion of Ukraine. Subsequently, the Company released a portion of this previously established bad debt reserve due to the collection of certain trade receivables, resulting in a bad debt reserve related to PPG's operations in Russia of $11 million at December 31, 2022. Refer to Note 7, "Impairment and Other Related Charges, Net" for additional information.
v3.22.4
Reportable Business Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Reportable Business Segment Information Reportable Business Segment Information
Segment Organization and Products
PPG is a multinational manufacturer with 10 operating segments (which the Company refers to as “strategic business units”) that are organized based on the Company’s major products lines. The Company’s reportable business segments include the following two segments: Performance Coatings and Industrial Coatings. The operating segments have been aggregated based on economic similarities, the nature of their products, production processes, end-use markets and methods of distribution.
The Performance Coatings reportable business segment is comprised of the automotive refinish coatings, aerospace coatings, architectural coatings – Americas and Asia Pacific, architectural coatings – EMEA, protective and marine coatings and traffic solutions operating segments. This reportable business segment primarily supplies a variety of protective and decorative coatings, sealants and finishes, along with paint strippers, stains and related chemicals, pavement marking products, transparencies and transparent armor.
The Industrial Coatings reportable business segment is comprised of the automotive OEM coatings, industrial coatings, packaging coatings, and the specialty coatings and materials operating segments. This reportable business segment primarily supplies a variety of protective and decorative coatings and finishes along with adhesives, sealants, metal pretreatment products, optical monomers and coatings, precipitated silicas and other specialty materials.
Production facilities and sales for Performance Coatings and Industrial Coatings are global. PPG’s reportable business segments continue to pursue opportunities to further develop their global reach. Each of the reportable business segments in which PPG is engaged is highly competitive. The diversification of our product lines and the worldwide sales tend to minimize the impact on PPG’s business of changes in demand in a particular industry or in a particular geographic area.
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies (see Note 1, “Summary of Significant Accounting Policies”). The Company allocates resources to operating segments and evaluates the performance of operating segments based upon segment income, which is income before interest expense – net, income taxes, and noncontrolling interests and excludes certain charges which are considered to be unusual or non-recurring. The Company also evaluates performance of operating segments based on working capital reduction, selling price increases and sales volume growth.
Corporate unallocated costs include the costs of corporate staff functions not directly associated with the operating segments, certain legal matters, net of related insurance recoveries, the cost of certain insurance and stock-based compensation programs and certain other unusual or non-recurring items. The service cost component of net periodic benefit cost related to current employees of each reportable business segment is allocated to that reportable business segment and the remaining portion of net periodic pension expense is included in the Corporate unallocated costs.
Product movement between Performance Coatings and Industrial Coatings is limited, is accounted for as an inventory transfer, and is recorded at cost plus a mark-up, the impact of which is not significant to the net sales or segment income of the reportable business segments.
($ in millions)202220212020
Net sales to external customers
Performance Coatings$10,694 $10,333 $8,495 
Industrial Coatings6,958 6,469 5,339 
Total Net sales$17,652 $16,802 $13,834 
Segment income
Performance Coatings$1,399 $1,491 $1,359 
Industrial Coatings643 680 750 
Total Segment income$2,042 $2,171 $2,109 
Corporate / Non-Segment Items
Corporate unallocated(218)(194)(233)
Interest expense, net of interest income(113)(95)(115)
Impairment and other related charges, net(1)
(245)(21)(93)
Business restructuring-related costs, net(2)
(75)(27)(224)
Transaction-related costs, net(3)
(10)(86)(9)
Pension settlement charge— (50)— 
Environmental remediation charges, net— (35)(26)
Expense incurred due to natural disasters(4)
— (17)(17)
Change in allowance for doubtful accounts related to COVID-19— 14 (30)
Income from legal settlements— 22 — 
Asbestos-related claims reserve adjustment(5)
— 133 — 
Total Income before income taxes$1,381 $1,815 $1,362 
($ in millions)202220212020
Depreciation and amortization
Performance Coatings$296 $308 $251 
Industrial Coatings207 212 200 
Corporate / Non-Segment Items51 41 58 
Total$554 $561 $509 
Share of net earnings of equity affiliates
Performance Coatings$7 $5 $3 
Corporate / Non-Segment Items18 10 5 
Total $25 $15 $8 
Segment assets(6)
Performance Coatings$13,088 $13,395 $11,551 
Industrial Coatings5,802 5,807 5,040 
Corporate / Non-Segment Items1,854 2,149 2,965 
Total$20,744 $21,351 $19,556 
Investment in equity affiliates
Performance Coatings$42 $33 $31 
Industrial Coatings15 15 15 
Corporate / Non-Segment Items77 78 74 
Total $134 $126 $120 
Expenditures for property (including business acquisitions)
Performance Coatings$254 $1,698 $1,293 
Industrial Coatings313 784 166 
Corporate / Non-Segment Items65 26 14 
Total$632 $2,508 $1,473 
($ in millions)202220212020
Geographic Information
Segment income   
United States and Canada$819 $865 $855 
EMEA505 612 572 
Asia Pacific332 354 382 
Latin America386 340 300 
Total$2,042 $2,171 $2,109 
Property, plant and equipment — net   
United States and Canada$1,394 $1,377 $1,351 
EMEA943 1,069 857 
Asia Pacific685 702 623 
Latin America306 294 296 
Total$3,328 $3,442 $3,127 
(1)In the first quarter 2022, the Company recorded impairment and other related charges due to the wind down of the company’s operations in Russia. Subsequently, the Company released a portion of the previously established reserves for Receivables and Inventories due to the collection of certain trade receivables and the realization of certain inventories. Also in 2022, impairment and other related charges were recorded for the write-down of certain assets and liabilities related to the planned sale of a non-core business and for certain asset write downs. In 2021 and 2020, impairment charges were recorded for the write-down of certain assets related to the previously planned sale of certain smaller entities in non-strategic regions. Also in 2020, an impairment charge was recorded to reduce the carrying value of an indefinite-lived trademark.
(2)Included in business restructuring-related costs, net are business restructuring charges, accelerated depreciation of certain assets and other related costs, offset by releases related to previously approved programs and a $34 million gain on the sale of certain assets in 2021 in connection with the Company’s manufacturing footprint consolidation plans and associated restructuring programs. This gain is included in Other (income)/charges, net in the consolidated statement of income.
(3)Transaction-related costs, net include advisory, legal, accounting, valuation, other professional or consulting fees, and certain internal costs directly incurred to effect acquisitions. These costs are included in Selling, general and administrative expense in the statement of income. Acquisition-related costs, net also include the impact for the step up to fair value of inventory acquired in certain acquisitions which are included in Cost of Sales, exclusive of depreciation and amortization in the consolidated statement of income.
(4)In 2020, two hurricanes damaged a southern U.S. factory supporting the Company's specialty coatings and materials business. In early 2021, a winter storm further damaged that factory as well as other company factories in the southern U.S. Incremental expenses incurred due to these storms included costs related to maintenance and repairs of damaged property, freight and utility premiums and other incremental expenses directly related to the impacted areas.
(5)In 2021, the reserve for asbestos-related claims was reduced to reflect the Company’s current estimate of potential liability for these claims.
(6)Segment assets are the total assets used in the operation of each segment. Corporate assets principally include amounts recorded in Cash and cash equivalents, Deferred income taxes, and Property, plant and equipment, net on the consolidated balance sheet.
v3.22.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation
The accompanying consolidated financial statements include the accounts of PPG Industries, Inc. (“PPG” or the “Company”) and all subsidiaries, both U.S. and non-U.S., that it controls. PPG owns more than 50% of the voting stock of most of the subsidiaries that it controls. For those consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as noncontrolling interests. Investments in companies in which PPG owns 20% to 50% of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting. As a result, PPG’s share of income or losses from such equity affiliates is included in the consolidated statement of income and PPG’s share of these companies’ shareholders’ equity is included in Investments on the consolidated balance sheet. Transactions between PPG and its subsidiaries are eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements Use of Estimates in the Preparation of Financial StatementsThe preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period. Such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated. Actual outcomes could differ from those estimates.
Revenue Recognition
Revenue Recognition
Revenue is recognized as performance obligations with the customer are satisfied, at an amount that is determined to be collectible. For the sale of products, this generally occurs at the point in time when control of the Company’s products transfers to the customer based on the agreed upon shipping terms.
Shipping and Handling Costs
Amounts billed to customers for shipping and handling are reported in Net sales in the consolidated statement of income. Shipping and handling costs incurred by the Company for the delivery of goods to customers are included in Cost of sales, exclusive of depreciation and amortization in the consolidated statement of income.
The Company recognizes revenue when control of the promised goods or services is transferred to the customer and in amounts that the Company expects to collect. The timing of revenue recognition takes into consideration the various shipping terms applicable to the Company’s sales. For most transactions, control passes in accordance with agreed upon delivery terms.
The Company delivers products to company-owned stores, home centers and other regional or national consumer retail outlets, paint dealers, concessionaires and independent distributors, company-owned distribution networks, and directly to manufacturing companies and retail customers. Each product delivered to a third party customer is considered to satisfy a performance obligation. Performance obligations generally occur at a point in time and are satisfied when control of the goods passes to the customer. The Company is entitled to collection of the sales price under normal credit terms in the regions in which it operates. Accounts receivable are recognized when there is an unconditional right to consideration. Payment terms vary from customer to customer, depending on creditworthiness, prior payment history and other considerations.
The Company also provides services by applying coatings to customers' manufactured parts and assembled products and by providing technical support to certain customers. Performance obligations are satisfied over time as critical milestones are met and as services are provided. PPG is entitled to payment as the services are rendered. For the years ended December 31, 2022, 2021 and 2020, service revenue constituted less than 5% of total revenue.
Selling, General and Administrative Costs Selling, General and Administrative CostsAmounts presented in Selling, general and administrative in the consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate-wide functional support in areas such as finance, law, human resources and planning. Distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities.
Advertising Costs Advertising CostsAdvertising costs are charged to expense as incurred and totaled $252 million, $243 million and $223 million in 2022, 2021 and 2020, respectively.
Research and Development Research and DevelopmentResearch and development costs, which consist primarily of employee-related costs, are charged to expense as incurred.
Legal Costs
Legal Costs
Legal costs, which primarily include costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes, are charged to expense as incurred.
Income Taxes
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in Income tax expense in the consolidated statement of income in the period that includes the enactment date.
A valuation allowance is provided against deferred tax assets in situations where PPG determines it is more likely than not such assets will not ultimately be realized.
PPG does not recognize a tax benefit unless it concludes that it is more likely than not that the benefit will be sustained on audit by the taxing authority based solely on the technical merits of the associated tax position. If the recognition threshold is met, PPG recognizes a tax benefit measured at the largest amount of the tax benefit that, in PPG’s judgment, is greater than 50 percent likely to be realized. PPG records interest and penalties related to uncertain tax positions in Income tax expense in the consolidated statement of income.
Foreign Currency Translation
Foreign Currency Translation
The functional currency of most significant non-U.S. operations is their local currency. Assets and liabilities of those operations are translated into U.S. dollars using year-end exchange rates; income and expenses are translated using the average exchange rates for the reporting period. Unrealized foreign currency translation gains and losses are deferred in Accumulated other comprehensive loss on the consolidated balance sheet.
Cash Equivalents
Cash Equivalents
Cash equivalents are highly liquid investments (valued at cost, which approximates fair value) acquired with an original maturity of three months or less.
Short-term Investments
Short-term Investments
Short-term investments are highly liquid, high credit quality investments (valued at cost plus accrued interest) that have stated maturities of greater than three months to less than one year. The purchases and sales of these investments are classified as Investing activities in the consolidated statement of cash flows.
Marketable Equity Securities
Marketable Equity Securities
The Company’s investment in marketable equity securities is recorded at fair market value and reported as Other current assets and Investments on the consolidated balance sheet with changes in fair market value recorded in income.
Inventories InventoriesInventories are stated at the lower of cost or net realizable value. Most U.S. inventories are stated at cost, using the last-in, first-out (“LIFO”) method of accounting, which does not exceed net realizable value. All other inventories are stated at cost, using the first-in, first-out (“FIFO”) method of accounting, which does not exceed net realizable value. PPG determines cost using either average or standard factory costs, which approximate actual costs, excluding certain fixed costs such as depreciation and property taxes. Refer to Note 3, “Working Capital Detail” for further information concerning the Company’s inventories.
Derivative Financial Instruments
Derivative Financial Instruments
The Company recognizes all derivative financial instruments (a “derivative”) as either assets or liabilities at fair value on the consolidated balance sheet. The accounting for changes in the fair value of a derivative depends on the use of the instrument.
For derivative instruments that are designated and qualify as cash flow hedges, the unrealized gains or losses on the derivatives are recorded in the consolidated statement of comprehensive income. Amounts in Accumulated other comprehensive loss on the consolidated balance sheet are reclassified into Income before income taxes in the consolidated statement of income in the same period or periods during which the hedged transactions are recorded in Income before income taxes in the consolidated statement of income.
For derivative instruments that are designated and qualify as fair value hedges, the change in the fair value of the derivatives are reported in Income before income taxes in the consolidated statement of income, offsetting the gain or loss recognized for the change in fair value of the asset, liability, or firm commitment that is being hedged.
For derivatives, debt or other financial instruments that are designated and qualify as net investment hedges, the gains or losses associated with the financial instruments are reported as translation gains or losses in Accumulated other comprehensive loss on the consolidated balance sheet. Gains and losses in Accumulated other comprehensive loss related to hedges of the Company’s net investments in foreign operations are reclassified out of Accumulated other comprehensive loss and recognized in Income before income taxes in the consolidated statement of income upon a substantial liquidation, sale or partial sale of such investments or upon impairment of all or a portion of such investments. The cash flow impact of these instruments is classified as Investing activities in the consolidated statement of cash flows.
Changes in the fair value of derivative instruments not designated as hedges for hedge accounting purposes are recognized in Income before income taxes in the consolidated statement of income in the period of change.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment is recorded at cost. Depreciation is computed on a straight-line method based on the estimated useful lives of related assets. Accelerated depreciation expense is recorded when facilities or equipment are subject to abnormal economic conditions, restructuring actions or obsolescence.
The cost of significant improvements that add to productive capacity or extend the lives of properties are capitalized. Costs for repairs and maintenance are charged to expense as incurred. When a capitalized asset is retired or otherwise disposed of, the original cost and related accumulated depreciation balance are removed from the accounts and any related gain or loss is recorded in Income before income taxes in the consolidated statement of income. The amortization cost of finance lease assets is recorded in Depreciation expense in the consolidated statement of income. Property and other long-lived assets are reviewed for impairment whenever events or circumstances indicate that their carrying amounts may not be recoverable. Refer to Note 4, “Property, Plant and Equipment” for further details.
Goodwill and Identifiable Intangible Assets
Goodwill and Identifiable Intangible Assets
Goodwill represents the excess of the cost over the fair value of acquired identifiable tangible and intangible assets less liabilities assumed from acquired businesses. Identifiable intangible assets acquired in business combinations are recorded based upon their fair value at the date of acquisition.
PPG is a multinational manufacturer with 10 operating segments (which the Company refers to as “strategic business units”) that are organized based on the Company’s major products lines. These operating segments are also the Company’s reporting units for purposes of testing goodwill for impairment, which is tested at least annually in connection with PPG’s strategic planning process or more frequently if an indication of impairment exists. The Company tests goodwill for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative evaluation is an assessment of factors, including reporting unit specific operating results as well as industry, market and general economic conditions, to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Company may elect to bypass this qualitative assessment for some or all of its reporting units and perform a quantitative test. Quantitative goodwill impairment testing, if deemed necessary, is performed during the fourth quarter of each year by comparing the estimated fair value of an associated reporting unit as of September 30 to its carrying value. Fair value is estimated using a discounted cash flow model. Key assumptions and estimates used in the discounted cash flow model include projected future revenues, discount rates, operating cash flows, capital expenditures and tax rates. In 2022, the annual impairment testing review of goodwill did not result in impairment of the Company’s reporting units.
The Company has determined that certain acquired trademarks have indefinite useful lives. The Company tests the carrying value of these trademarks for impairment at least annually, or as needed whenever events and circumstances indicate that their carrying amount may not be recoverable. In the first quarter 2022, due to the adverse economic impacts of Russian military forces invading Ukraine, the Company identified indicators that the carrying value of an indefinite-lived intangible asset and certain definite-lived intangible assets associated with the Company's operations in Russia may not be recoverable as of March 31, 2022, and the carrying value of those assets was assessed for impairment. As a result of this assessment, the Company recorded impairment charges of $124 million related to the indefinite-lived intangible asset and $23 million related to definite-lived intangible assets in the consolidated statement of income for the year ended December 31, 2022. Refer to Note 7, "Impairment and Other Related Charges, Net" for additional information.
The annual assessment takes place in the fourth quarter of each year either by completing a qualitative assessment or quantitatively by comparing the estimated fair value of each trademark as of September 30 to its carrying value. Fair value is estimated by using the relief from royalty method (a discounted cash flow methodology). The qualitative assessment includes consideration of factors, including revenue relative to the asset being assessed, the operating results of the related business as well as industry, market and general economic conditions, to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount. In 2022, the annual impairment testing review of indefinite-lived intangibles performed as of September 30, 2022 resulted in the Company recognizing a pretax impairment charge of $4 million. Refer to Note 6, “Goodwill and Other Identifiable Intangible Assets” for further details.
Identifiable intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives (1 to 30 years) and are reviewed for impairment whenever events or circumstances indicate that their carrying amount may not be recoverable.
Receivables and Allowances
Receivables and Allowances
All trade receivables are reported on the consolidated balance sheet at the outstanding principal adjusted for any allowance for doubtful accounts and any charge offs. The Company provides an allowance for doubtful accounts to reduce receivables to their estimated net realizable value when it is probable that a loss will be incurred. Those estimates are based on historical collection experience, current regional economic and market conditions, the aging of accounts
receivable, assessments of current creditworthiness of customers, and forward-looking information. Refer to Note 20, “Revenue Recognition” for further details.
Leases
Leases
The Company determines if a contract is a lease at the inception of the arrangement. The Company reviews all options to extend, terminate, or purchase its right of use assets at the inception of the lease and accounts for these options when they are reasonably certain of being exercised. Certain real estate leases contain lease and non-lease components, which are accounted for separately. For certain equipment leases, lease and non-lease components are accounted for as a single lease component.
Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. Lease expense for these leases is recognized on a straight-line basis over the lease term.
Variable lease expense is based on contractual arrangements with PPG’s lessors determined based on external indices or other relevant market factors. In addition, PPG’s variable lease expense also includes elements of a contract that do not represent a good or service but for which the lessee is responsible for paying.
Nearly all of PPG’s lease contracts do not provide a readily determinable implicit rate. For these contracts, PPG’s estimated incremental borrowing rate is based on information available at the inception of the lease.
Product Warranties
Product Warranties
The Company accrues for product warranties at the time the associated products are sold based on historical claims experience. The reserve, pretax charges against income and cash outlays for product warranties were not significant to the consolidated financial statements of the Company for any year presented.
Asset Retirement Obligations
Asset Retirement Obligations
An asset retirement obligation represents a legal obligation associated with the retirement of a tangible long-lived asset that is incurred upon the acquisition, construction, development or normal operation of that long-lived asset. PPG recognizes asset retirement obligations in the period in which they are incurred if a reasonable estimate of fair value can be made. The asset retirement obligation is subsequently adjusted for changes in fair value. The associated estimated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset and depreciated over its useful life. PPG’s asset retirement obligations are primarily associated with the retirement or closure of certain assets used in PPG’s manufacturing process. The accrued asset retirement obligation is recorded in Accounts payable and accrued liabilities and Other liabilities on the consolidated balance sheet and was $23 million and $22 million as of December 31, 2022 and 2021, respectively.
PPG’s only conditional asset retirement obligation relates to the possible future abatement of asbestos contained in certain PPG production facilities. The asbestos in PPG’s production facilities arises from the application of normal and customary building practices in the past when the facilities were constructed. This asbestos is encapsulated in place and, as a result, there is no current legal requirement to abate it. Because there is no requirement to abate, the Company does not have any current plans or an intention to abate and therefore the timing, method and cost of future abatement, if any, are not known. The Company has not recorded an asset retirement obligation associated with asbestos abatement, given the uncertainty concerning the timing of future abatement, if any.
Environmental Contingencies Environmental ContingenciesIt is PPG’s policy to accrue expenses for environmental contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Reserves for environmental contingencies are exclusive of claims against third parties and are generally not discounted.
Assets and Liabilities Held for Sale
Assets and Liabilities Held for Sale
The Company classifies assets and liabilities as held for sale (a “disposal group”) when management commits to a plan to sell the disposal group, the sale is probable within one year and the disposal group is available for immediate sale in its present condition. The Company considers various factors, particularly whether actions required to complete the plan indicate it is unlikely that significant changes to the plan will be made or the plan will be withdrawn. Assets held for sale are measured at the lower of carrying value or fair value less costs to sell. Any loss resulting from the measurement is recognized in the period the held-for-sale criteria are met. Conversely, gains are not recognized until the date of the sale. When the disposal group is classified as held for sale, depreciation and amortization ceases and the Company tests the assets for impairment.
Reclassifications
Reclassifications
Certain reclassifications of prior years’ data have been made to conform to the current year presentation. These reclassifications had no impact on our previously reported Net income, cash flows or shareholders’ equity.
New Accounting Standards
Accounting Standards Adopted in 2022
Effective January 1, 2022, PPG adopted Accounting Standards Update ("ASU") No. 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40)." This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity's own equity. Adoption of this standard did not materially impact PPG's consolidated financial position, results of operations or cash flows.
In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform." This ASU provided optional expedients and exceptions to U.S. GAAP for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate ("LIBOR"). The amendments in this ASU applied only to contracts, hedging relationships, and other transactions that referenced LIBOR or another reference rate expected to be discontinued. The amendments in this ASU were effective through December 31, 2022. PPG did not apply any of the optional expedients or exceptions allowed under this ASU.
Accounting Standards to be Adopted in Future Years
There were no accounting pronouncements promulgated prior to December 31, 2022 that are not effective until a future date which are expected to have a material impact on PPG’s consolidated financial position, results of operations or cash flows.
v3.22.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Research and Development
($ in millions)202220212020
Research and development – total$470 $463 $401 
Less: depreciation on research facilities22 24 22 
Research and development, net$448 $439 $379 
v3.22.4
Working Capital Detail (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure Components Of Working Capital Detail [Abstract]  
Components of Working Capital Detail Working Capital Detail
($ in millions)20222021
Receivables  
 Trade - net$2,824 $2,687 
 Other - net479 465 
 Total$3,303 $3,152 
Inventories(1)
 Finished products$1,209 $1,175 
 Work in process238 234 
 Raw materials784 723 
 Supplies41 39 
 Total$2,272 $2,171 
Accounts payable and accrued liabilities
 Trade $2,538 $2,734 
 Accrued payroll501 534 
 Customer rebates377 368 
 Other postretirement and pension benefits77 87 
 Income taxes37 36 
 Other557 633 
 Total$4,087 $4,392 
(1)Inventories valued using the LIFO method of inventory valuation comprised 21% and 29% of total gross inventory values as of December 31, 2022 and 2021, respectively. If the FIFO method of inventory valuation had been used, inventories would have been $272 million and $174 million higher as of December 31, 2022 and 2021, respectively.
v3.22.4
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
($ in millions)Useful Lives (years)20222021
Land and land improvements1-30$548 $570 
Buildings20-401,774 1,769 
Machinery and equipment5-253,960 3,949 
Other3-201,203 1,177 
Construction in progress 492 509 
Total$7,977 $7,974 
Less: accumulated depreciation4,649 4,532 
Net
 $3,328 $3,442 
v3.22.4
Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Investments
($ in millions)20222021
Investments in equity affiliates$134 $126 
Marketable equity securities (See Note 11)
61 98 
Other49 50 
Total$244 $274 
v3.22.4
Goodwill and Other Identifiable Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Amount of Goodwill Attributable to Each Reportable Segment
Goodwill
($ in millions)Performance CoatingsIndustrial CoatingsTotal
January 1, 2021
$4,023 $1,079 $5,102 
Acquisitions, including purchase accounting adjustments1,188 177 1,365 
Foreign currency impact(177)(42)(219)
December 31, 2021$5,034 $1,214 $6,248 
Acquisitions, including purchase accounting adjustments31 15 46 
Divestitures(40)— (40)
Foreign currency impact(144)(32)(176)
December 31, 2022$4,881 $1,197 $6,078 
Identifiable Intangible Assets with Finite Lives
Identifiable Intangible Assets
 December 31, 2022December 31, 2021
($ in millions)Gross Carrying AmountAccumulated AmortizationNetGross Carrying AmountAccumulated AmortizationNet
Indefinite-Lived Identifiable Intangible Assets
Trademarks$1,325 $— $1,325 $1,449 $— $1,449 
Definite-Lived Identifiable Intangible Assets
Acquired technology$827 ($636)$191 $862 ($616)$246 
Customer-related1,855 (1,112)743 1,956 (1,064)892 
Trade names311 (158)153 336 (144)192 
Other50 (48)2 51 (47)4 
Total Definite Lived Intangible Assets$3,043 ($1,954)$1,089 $3,205 ($1,871)$1,334 
Total Identifiable Intangible Assets$4,368 ($1,954)$2,414 $4,654 ($1,871)$2,783 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
($ in millions)20232024202520262027
Estimated future amortization expense$150 $127 $115 $93 $85 
v3.22.4
Business Restructuring (Tables)
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Activity Related to Restructuring Reserves
The following table summarizes restructuring reserve activity for the years ended December 31, 2022 and 2021:
Total Reserve
($ in millions)20222021
January 1$231 $293 
Approved restructuring actions84 54 
Release of prior reserves and other adjustments(a)
(51)(23)
Cash payments(85)(77)
Foreign currency impact(10)(16)
December 31$169 $231 
(a)Certain releases were recorded to reflect the current estimate of costs to complete planned business restructuring actions.
v3.22.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Components of Lease Expense
The components of lease expense for the years ended December 31, 2022, 2021 and 2020 were as follows:
($ in millions)Classification in the Consolidated Statement of Income202220212020
Operating lease costCost of sales, exclusive of depreciation and amortization$43 $41 $34 
Operating lease costSelling, general and administrative216 219 206 
Total operating lease cost$259 $260 $240 
Finance lease cost:
Amortization of right-of-use assetsDepreciation$2 $2 $2 
Interest on lease liabilitiesInterest expense1 1 1 
Total finance lease cost$3 $3 $3 
Total lease cost$262 $263 $243 
Total operating lease cost for the years ended December 31, 2022, 2021 and 2020 is inclusive of the following:
($ in millions)202220212020
Variable lease costs$18 $18 $17 
Short-term lease costs$22 $16 $8 
The lease amounts included in
Schedule of Classification on the Condensed Consolidated Balance Sheet
($ in millions)Classification on the Consolidated Balance Sheet20222021
Assets:
OperatingOperating lease right-of-use assets$829 $891 
Finance(1)
Property, plant, and equipment, net15 13 
Total leased assets$844 $904 
Liabilities:
Current
OperatingCurrent portion of operating lease liabilities$183 $192 
FinanceShort-term debt and current portion of long-term debt3 3 
Noncurrent
OperatingOperating lease liabilities$636 $693 
FinanceLong-term debt7 7 
Total lease liabilities$829 $895 
(1)Net of accumulated depreciation of $14 million and $13 million as of December 31, 2022 and 2021, respectively.
Supplemental cash flow information related to leases for the years ended December 31, 2022, 2021 and 2020 was as follows:
Schedule of Cash Paid for Lease Liabilities and Right-of-Use Assets Obtained in Exchange for Lease Obligations
($ in millions)202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases$218 $224 $212 
Operating cash flows paid for finance leases$1 $1 $1 
Financing cash flows paid for finance leases$2 $3 $2 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$161 $253 $227 
Finance leases$3 $— $4 
Lease terms and discount rates as of December 31, 2022, 2021 and 2020 were as follows:
Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate
202220212020
Weighted-average remaining lease term (in years)
Operating leases6.77.17.4
Finance leases9.06.46.1
Weighted-average discount rate
Operating leases2.6 %2.1 %2.4 %
Finance leases5.7 %5.8 %7.0 %
Schedule of Maturities of Lease Liabilities, Operating Lease
As of December 31, 2022, maturities of lease liabilities were as follows:
($ in millions)Operating LeasesFinance Leases
2023$201 $3 
2024166 2 
2025129 2 
2026100 1 
202778 1 
Thereafter219 3 
Total lease payments$893 $12 
Less: Interest74 2 
Total lease obligations$819 $10 
Schedule of Maturities of Lease Liabilities, Finance Lease
As of December 31, 2022, maturities of lease liabilities were as follows:
($ in millions)Operating LeasesFinance Leases
2023$201 $3 
2024166 2 
2025129 2 
2026100 1 
202778 1 
Thereafter219 3 
Total lease payments$893 $12 
Less: Interest74 2 
Total lease obligations$819 $10 
v3.22.4
Borrowings and Lines of Credit (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term Debt Obligations
($ in millions)Maturity Date20222021
3.2% notes ($300)(1)
2023$300 $299 
Term Loan Credit Agreement, due 2024 ($1,400)20241,099 1,399 
2.4% notes ($300)2024299 298 
0.875% notes (€600)2025639 677 
1.875% notes (€300)2025319 — 
1.200% notes ($700)2026694 692 
1.4% notes (€600)2027638 677 
3.75% notes ($800)(2)
2028809 811 
2.5% notes (€80)202985 90 
2.8% notes ($300)2029298 298 
2.750% notes (€700)2029743 — 
2.55% notes ($300)2030297 296 
1.95% note (€50)203752 — 
7.70% notes ($176)2038174 174 
5.5% notes ($250)2040247 247 
3.0% notes (€120)2044122 130 
Commercial paperVarious— 440 
Various other non-U.S. debt(3)
Various1 1 
Finance lease obligationsVarious10 10 
Impact of derivatives on debt(4)
N/A(20)36 
Total$6,806 $6,575 
Less payments due within one yearN/A303 3 
Long-term debt$6,503 $6,572 
(1)In February 2018, PPG entered into interest rate swaps which converted $150 million of the notes from a fixed interest rate to a floating interest rate based on the three month London Interbank Offered Rate (LIBOR). The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 2.2% and 0.6% for the years ended December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(2)In February 2018, PPG entered into interest rate swaps which converted $375 million of the notes from a fixed interest rate to a floating interest rate based on the three month LIBOR. The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 2.6% and 1.0% for the years ended December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(3)Weighted average interest rate of 4.4% and 3.1% as of December 31, 2022 and 2021, respectively.
(4)Fair value adjustment of the 3.2% $300 million notes and 3.75% $800 million notes as a result of fair value hedge accounting treatment related to the outstanding interest rate swaps as of December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
Long-Term Debt
($ in millions)
December 31, 2022 (a)
December 31, 2021 (b)
Long-term debt - carrying value$6,796$6,565
Long-term debt - fair value$6,375$6,958
(a)    Excluding finance lease obligations of $10 million and short term borrowings of $10 million as of December 31, 2022.
(b)    Excluding finance lease obligations of $10 million and short term borrowings of $6 million as of December 31, 2021.
Schedule of Maturities of Long-term Debt
Long-term Debt Maturities
($ in millions)Maturity per year
2023$303 
2024$1,396 
2025$959 
2026$698 
2027$642 
Thereafter$2,808 
Short-Term Debt Outstanding
Short-term Debt Obligations
($ in millions)20222021
Various, weighted average 2.7% and 0.7% as of December 31, 2022 and 2021, respectively. $10 $6 
v3.22.4
Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value, Cash Flow and Net Investment Hedges the years ended December 31, 2022, 2021 and 2020. All dollar amounts are shown on a pretax basis.
202220212020Caption in Consolidated Statement of Income
($ in millions)Gain Deferred in OCIGain RecognizedGain Deferred in OCIGain RecognizedLoss Deferred in OCIGain Recognized
Fair Value
Interest rate swaps$8 $15 $12 Interest expense
Total Fair Value$8 $15 $12 
Net Investment
Cross currency swaps$38 $16 $53 $13 ($57)$16 Interest expense
Foreign denominated debt85 — 173 — (200)— 
Total Net Investment$123 $16 $226 $13 ($257)$16 
Economic
Foreign currency forward contracts$43 $23 $30 Other (income)/charges, net
Schedule of Derivative Liabilities at Fair Value
Assets and liabilities reported at fair value on a recurring basis
December 31, 2022December 31, 2021
($ in millions)Level 1Level 2Level 3Level 1Level 2Level 3
Assets:
Other current assets:   
Marketable equity securities$9 $— $— $6 $— $— 
Foreign currency forward contracts(a)
— 27 — — 28 — 
Cross currency swaps(b)
— 39 — — — — 
Investments:
Marketable equity securities$61 $— $— $98 $— $— 
Other assets:
Cross currency swaps(b)
$— $49 $— $— $50 $— 
Interest rate swaps(c)
— — — — 36 — 
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts(a)
$— $3 $— $— $4 $— 
Interest rate swaps(c)
— 1 — — — — 
Other liabilities:
Interest rate swaps(c)
$— $19 $— $— $— $— 
(a)    Derivatives not designated as hedging instruments
(b)    Net investment hedges
(c)    Fair value hedges
Schedule of Long-term Debt Instruments
Long-term Debt Obligations
($ in millions)Maturity Date20222021
3.2% notes ($300)(1)
2023$300 $299 
Term Loan Credit Agreement, due 2024 ($1,400)20241,099 1,399 
2.4% notes ($300)2024299 298 
0.875% notes (€600)2025639 677 
1.875% notes (€300)2025319 — 
1.200% notes ($700)2026694 692 
1.4% notes (€600)2027638 677 
3.75% notes ($800)(2)
2028809 811 
2.5% notes (€80)202985 90 
2.8% notes ($300)2029298 298 
2.750% notes (€700)2029743 — 
2.55% notes ($300)2030297 296 
1.95% note (€50)203752 — 
7.70% notes ($176)2038174 174 
5.5% notes ($250)2040247 247 
3.0% notes (€120)2044122 130 
Commercial paperVarious— 440 
Various other non-U.S. debt(3)
Various1 1 
Finance lease obligationsVarious10 10 
Impact of derivatives on debt(4)
N/A(20)36 
Total$6,806 $6,575 
Less payments due within one yearN/A303 3 
Long-term debt$6,503 $6,572 
(1)In February 2018, PPG entered into interest rate swaps which converted $150 million of the notes from a fixed interest rate to a floating interest rate based on the three month London Interbank Offered Rate (LIBOR). The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 2.2% and 0.6% for the years ended December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(2)In February 2018, PPG entered into interest rate swaps which converted $375 million of the notes from a fixed interest rate to a floating interest rate based on the three month LIBOR. The impact of the derivative on the notes represents the fair value adjustment of the debt. The average effective interest rate for the portion of the notes impacted by the swaps was 2.6% and 1.0% for the years ended December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
(3)Weighted average interest rate of 4.4% and 3.1% as of December 31, 2022 and 2021, respectively.
(4)Fair value adjustment of the 3.2% $300 million notes and 3.75% $800 million notes as a result of fair value hedge accounting treatment related to the outstanding interest rate swaps as of December 31, 2022 and 2021, respectively. Refer to Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements” for additional information.
Long-Term Debt
($ in millions)
December 31, 2022 (a)
December 31, 2021 (b)
Long-term debt - carrying value$6,796$6,565
Long-term debt - fair value$6,375$6,958
(a)    Excluding finance lease obligations of $10 million and short term borrowings of $10 million as of December 31, 2022.
(b)    Excluding finance lease obligations of $10 million and short term borrowings of $6 million as of December 31, 2021.
v3.22.4
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Common Share Calculations
($ in millions, except per share amounts)202220212020
Earnings per common share (attributable to PPG)
Income from continuing operations, net of tax$1,028 $1,420 $1,056 
(Loss)/income from discontinued operations, net of tax(2)19 3 
Net income (attributable to PPG)$1,026 $1,439 $1,059 
Weighted average common shares outstanding236.1 237.6 236.8 
Effect of dilutive securities:   
Stock options0.5 1.0 0.4 
Other stock compensation plans0.7 0.8 0.7 
Potentially dilutive common shares1.2 1.8 1.1 
Adjusted weighted average common shares outstanding237.3 239.4 237.9 
Earnings per common share (attributable to PPG)
Income from continuing operations, net of tax$4.35 $5.98 $4.46 
(Loss)/income from discontinued operations, net of tax(0.01)0.08 0.01 
Net income (attributable to PPG)$4.34 $6.06 $4.47 
Earnings per common share - assuming dilution (attributable to PPG)
Income from continuing operations, net of tax$4.33 $5.93 $4.44 
(Loss)/income from discontinued operations, net of tax(0.01)0.08 0.01 
Net income (attributable to PPG)$4.32 $6.01 $4.45 
v3.22.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Components of Income Tax Expense
The provision for income taxes by taxing jurisdiction and by significant components consisted of the following:
($ in millions)202220212020
Current   
U.S. federal$137 $25 $12 
U.S. state and local20 13 6 
Foreign325 301 320 
Total current income tax expense$482 $339 $338 
Deferred   
U.S. federal($79)$12 $1 
U.S. state and local(7)3 (3)
Foreign(71)20 (45)
Total deferred income tax (benefit)/expense($157)$35 ($47)
Total income tax expense$325 $374 $291 
Reconciliation of Statutory U.S. Corporate Federal Income Tax Rate to Effective Income Tax Rate
A reconciliation of the statutory U.S. corporate federal income tax rate to the Company’s effective tax rate follows:
202220212020
U.S. federal income tax rate21.0 %21.0 %21.0 %
Changes in rate due to:   
Taxes on non-U.S. earnings3.6 2.7 3.3 
U.S. state and local taxes0.7 0.8 0.3 
U.S. tax (benefit)/cost on foreign operations(0.4)(1.6)0.1 
Tax benefits from equity awards(0.3)(0.3)(0.4)
Change in valuation allowance reserves0.6 — (1.4)
U.S. tax incentives(1.0)(0.6)(0.9)
Uncertain tax positions(0.4)(1.4)0.9 
Other(0.3)— (1.5)
Effective income tax rate23.5 %20.6 %21.4 %
Net deferred income tax assets and liabilities
($ in millions)20222021
Deferred income tax assets related to
Employee benefits$275 $386 
Contingent and accrued liabilities67 74 
Operating loss and other carry-forwards218 278 
Operating lease liabilities203 215 
Research and development amortization149 68 
Other168 121 
Valuation allowance(182)(172)
Total$898 $970 
Deferred income tax liabilities related to  
Property$223 $278 
Intangibles720 814 
Employee benefits81 75 
Operating lease right-of-use assets206 216 
Other74 36 
Total$1,304 $1,419 
Deferred income tax liabilities – net($406)($449)
Summary of Operating Loss Carryforwards
($ in millions)20222021Expiration
Available net operating loss carryforwards, tax effected:
Indefinite expiration$84 $106 NA
Definite expiration66 77 2023-2042
Total$150 $183 
Income tax credit carryforwards$89 $115 2023-2042
Unrecognized Tax Benefits
A reconciliation of the total amounts of unrecognized tax benefits (excluding interest and penalties) as of December 31 follows:
($ in millions)202220212020
January 1$158 $175 $167 
Current year tax positions - additions19 12 25 
Prior year tax positions - additions2 10 5 
Prior year tax positions - reductions(2)(2)(2)
Statute of limitations expirations(23)(19)(8)
Settlements(3)(21)(11)
Foreign currency translation(6)3 (1)
December 31$145 $158 $175 
Interest and penalties
($ in millions)202220212020
Accrued interest and penalties related to unrecognized tax benefits$17 $17 $18 
Loss/(income) recognized in income tax expense related to interest and penalties$1 ($2)$2 
v3.22.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Changes in Projected Benefit Obligations, Plan Assets and Funded Status
The following table sets forth the changes in projected benefit obligations (“PBO”), plan assets, the funded status and the amounts recognized on the accompanying consolidated balance sheet for the Company’s defined benefit pension and other postretirement benefit plans:
Defined Benefit Pension Plans
 United States International Total PPG
($ in millions)202220212022202120222021
Projected benefit obligation, January 1$1,920 $2,042 $1,614 $1,933 $3,534 $3,975 
Service cost— — 9 9 9 9 
Interest cost45 39 28 26 73 65 
Actuarial gains(449)(72)(485)(91)(934)(163)
Benefits paid(91)(89)(49)(60)(140)(149)
Acquisitions— — — 48 — 48 
Foreign currency translation adjustments— — (126)(51)(126)(51)
Settlements and curtailments— — (22)(198)(22)(198)
Other— — (8)(2)(8)(2)
Projected benefit obligation, December 31$1,425 $1,920 $961 $1,614 $2,386 $3,534 
Market value of plan assets, January 1$1,329 $1,335 $1,646 $1,881 $2,975 $3,216 
Actual return on plan assets(228)66 (506)42 (734)108 
Company contributions— — 11 10 11 10 
Benefits paid(73)(72)(41)(51)(114)(123)
Acquisitions— — — 3 — 3 
Plan settlements— — (22)(198)(22)(198)
Foreign currency translation adjustments— — (140)(38)(140)(38)
Other— — (2)(3)(2)(3)
Market value of plan assets, December 31$1,028 $1,329 $946 $1,646 $1,974 $2,975 
Funded Status($397)($591)($15)$32 ($412)($559)
Amounts recognized in the Consolidated Balance Sheet:
Other assets (long-term)— — 183 310 183 310 
Accounts payable and accrued liabilities(17)(23)(12)(12)(29)(35)
Accrued pensions(380)(568)(186)(266)(566)(834)
Net (liability)/asset recognized($397)($591)($15)$32 ($412)($559)
Other Postretirement Benefit Plans
 United States InternationalTotal PPG
($ in millions)202220212022202120222021
Projected benefit obligation, January 1$631 $682 $93 $104 $724 $786 
Service cost8 11 — 1 8 12 
Interest cost13 12 3 2 16 14 
Actuarial gains(154)(33)(20)(10)(174)(43)
Benefits paid(40)(41)(4)(4)(44)(45)
Foreign currency translation adjustments— — (6)— (6)— 
Projected benefit obligation, December 31$458 $631 $66 $93 $524 $724 
Amounts recognized in the Consolidated Balance Sheet:
Accounts payable and accrued liabilities(44)(47)(4)(5)(48)(52)
Other postretirement benefits(414)(584)(62)(88)(476)(672)
Net liability recognized($458)($631)($66)($93)($524)($724)
The PBO is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation (“ABO”) is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The ABO for all defined benefit pension plans as of December 31, 2022 and 2021 was $2.3 billion and $3.5 billion, respectively.
The following table details the pension plans where the benefit liability exceeds the fair value of the plan assets:
 Pensions
($ in millions)20222021
Plans with PBO in Excess of Plan Assets:
Projected benefit obligation$1,863 $2,232 
Fair value of plan assets$1,270 $1,366 
Plans with ABO in Excess of Plan Assets:
Accumulated benefit obligation$1,833 $2,197 
Fair value of plan assets$1,266 $1,362 
Accumulated Other Comprehensive Loss Pretax Amounts Not Yet Reflected in Net Periodic Benefit Cost
PensionsOther Postretirement Benefits
($ in millions)2022202120222021
Accumulated net actuarial losses/(gains)$748 $857 ($16)$170 
Accumulated prior service cost/(credit)— 5 (10)(21)
Total$748 $862 ($26)$149 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
The net decrease in Accumulated other comprehensive loss (pretax) in 2022 relating to defined benefit pension and other postretirement benefits is primarily attributable to pension and other postretirement plan discount rate increases, as follows:
($ in millions)PensionsOther Postretirement Benefits
Net actuarial gain arising during the year($60)($174)
New prior service cost(5)— 
Amortization of actuarial loss(34)(12)
Amortization of prior service credit— 11 
Foreign currency translation adjustments(9)— 
Impact of settlements(6)— 
Net decrease($114)($175)
Net Periodic Benefit Cost
PensionsOther Postretirement Benefits
($ in millions)202220212020202220212020
Service cost$9 $9 $24 $8 $12 $10 
Interest cost73 65 87 16 14 20 
Expected return on plan assets(140)(152)(144)— — — 
Amortization of prior service credit— — — (11)(54)(59)
Amortization of actuarial losses34 39 71 12 20 15 
Settlements, curtailments, and special termination benefits6 53 18 — — — 
Net periodic benefit (income)/cost($18)$14 $56 $25 ($8)($14)
Schedule of Contributions to Defined benefit Plans
Contributions to defined benefit pension plans
($ in millions)202220212020
Non-U.S. defined benefit pension plans$11 $10 $17 
Schedule of Expected Benefit Payments
The estimated benefits expected to be paid under the Company’s defined benefit pension and other postretirement benefit plans are:
($ in millions)PensionsOther Postretirement Benefits
2023$148 $48 
2024$166 $47 
2025$153 $46 
2026$157 $43 
2027$160 $42 
2028 to 2032$825 $192 
Weighted Average Target Pension Plan Asset Allocations
The following summarizes the weighted average target pension plan asset allocation as of December 31, 2022 and 2021 for all PPG defined benefit plans:
Asset Category20222021
Equity securities15-45%15-45%
Debt securities30-65%30-65%
Real estate0-10%0-10%
Other20-40%20-40%
Fair Values of the Company's Pension Plan Assets by Asset Category
The fair values of the Company’s pension plan assets at December 31, 2022 and 2021, by asset category, are as follows:
December 31, 2022December 31, 2021
($ in millions)
Level 1(1)
Level 2(1)
Level 3(1)
Total
Level 1(1)
Level 2(1)
Level 3(1)
Total
Asset Category     
Equity securities:     
U.S.     
Large cap$66 $43 $— $109 $79 $78 $— $157 
Small cap25 — — 25 48 — — 48 
Non-U.S.        
Developed and emerging markets(2)
99 43 — 142 130 76 — 206 
Debt securities:        
Cash and cash equivalents7 47 — 54 8 42 — 50 
Corporate(3)
        
U.S.(4)
— 168 80 248 — 232 100 332 
Developed and emerging markets(2)
— 1 — 1 — 1 — 1 
Diversified(5)
— 13 — 13 — 57 — 57 
Government        
U.S.(4)
49 10 — 59 68 13 — 81 
Developed and emerging markets(2)
— 6 — 6 — 10 — 10 
Other(6)
— — 235 235 — — 367 367 
Real estate, hedge funds, and other— 275 362 637 — 562 487 1,049 
Total assets in the fair value hierarchy$246 $606 $677 $1,529 $333 $1,071 $954 $2,358 
Common-collective trusts(7)
— — — 445 — — — 617 
Total Investments$246 $606 $677 $1,974 $333 $1,071 $954 $2,975 
(1)These levels refer to the accounting guidance on fair value measurement described in Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements.”
(2)These amounts represent holdings in investment grade debt or equity securities of issuers in both developed markets and emerging economies.
(3)This category represents investment grade debt securities from a diverse set of industry issuers.
(4)These investments are primarily long duration fixed income securities.
(5)This category represents commingled funds invested in diverse portfolios of debt securities.
(6)This category includes mortgage-backed and asset backed debt securities, municipal bonds and other debt securities including derivatives.
(7)Certain investments that are measured at net asset value per share (or its equivalent) are not required to be classified in the fair value hierarchy.
Change in the Fair Value of the Company's Level 3 Pension Assets
The change in the fair value of the Company’s Level 3 pension assets for the years ended December 31, 2022 and 2021 was as follows:
($ in millions)Real EstateOther Debt SecuritiesHedge Funds and Other AssetsTotal
January 1, 2021
$124 $421 $371 $916 
Realized gains/(losses)3 (11)9 1 
Unrealized gains22 — 8 30 
Transfers in/(out), net8 (14)44 38 
Foreign currency losses— (29)(2)(31)
December 31, 2021$157 $367 $430 $954 
Realized gains/(losses)1 (99)(1)(99)
Unrealized gains/(losses)6 — (3)3 
Transfers out, net(10)(12)(100)(122)
Foreign currency losses(5)(21)(33)(59)
December 31, 2022$149 $235 $293 $677 
Benefit Obligations  
Weighted Average Assumptions Used for the Defined Benefit Pension and Other Postretirement Plans
The following weighted average assumptions were used to determine the benefit obligation for the Company’s defined benefit pension and other postretirement plans as of December 31, 2022 and 2021:
United StatesInternationalTotal PPG
202220212022202120222021
Discount rate5.4 %2.8 %4.9 %2.0 %5.2 %2.5 %
Rate of compensation increase2.5 %2.5 %3.1 %2.8 %2.7 %2.6 %
Benefit Costs  
Weighted Average Assumptions Used for the Defined Benefit Pension and Other Postretirement Plans
The following weighted average assumptions were used to determine the net periodic benefit cost for the Company’s defined benefit pension and other postretirement benefit plans for the three years in the period ended December 31, 2022:
202220212020
Discount rate2.5 %2.1 %2.8 %
Expected return on assets5.0 %4.8 %5.0 %
Rate of compensation increase2.6 %1.5 %2.6 %
v3.22.4
Commitments and Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Loss Contingencies by Contingency
Environmental Reserves
($ in millions)20222021
New Jersey Chrome$58 $89 
Glass and chemical60 83 
Other99 110 
Total$217 $282 
Current Portion$50 $97 
Environmental Costs The pretax charges and cash outlays related to such environmental remediation in 2022, 2021 and 2020, were as follows:
($ in millions)202220212020
New Jersey Chrome$— $25 $15 
Glass and chemical3 12 15 
Other10 7 8 
Total$13 $44 $38 
Cash outlays for environmental spending$78 $56 $60 
v3.22.4
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Summary of Shares Outstanding
Common StockTreasury StockShares Outstanding
January 1, 2020
581,146,136 (345,465,666)235,680,470 
Issuances— 1,005,795 1,005,795 
December 31, 2020581,146,136 (344,459,871)236,686,265 
Purchases— (1,521,765)(1,521,765)
Issuances— 742,526 742,526 
December 31, 2021581,146,136 (345,239,110)235,907,026 
Purchases— (1,269,830)(1,269,830)
Issuances — 436,730 436,730 
December 31, 2022581,146,136 (346,072,210)235,073,926 
v3.22.4
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Loss
($ in millions)
Foreign Currency Translation Adjustments(1)
Pension and Other Postretirement Benefit Adjustments, net of tax(2)
Unrealized Gain on Derivatives, net of taxAccumulated Other Comprehensive Loss
January 1, 2020($1,627)($724)$1 ($2,350)
Current year deferrals to AOCL(36)(237)— (273)
Reclassifications from AOCL to net income— 24 — 24 
December 31, 2020($1,663)($937)$1 ($2,599)
Current year deferrals to AOCL(325)132 — (193)
Reclassifications from AOCL to net income— 42 — 42 
December 31, 2021($1,988)($763)$1 ($2,750)
Current year deferrals to AOCL(301)175 — (126)
Reclassifications from AOCL to net income35 31 — 66 
December 31, 2022($2,254)($557)$1 ($2,810)
(1)The tax cost/(benefit) related to unrealized foreign currency translation adjustments on net investment hedges as of December 31, 2022, 2021 and 2020 was $73 million, $55 million and $(6) million, respectively.
(2)The tax cost/(benefit) related to the adjustment for pension and other postretirement benefits as of December 31, 2022, 2021 and 2020 was $83 million, $48 million and $(70) million, respectively. Reclassifications from AOCL are included in the computation of net periodic benefit costs (see Note 14, “Employee Benefit Plans").
v3.22.4
Other (Income)/Charges, Net (Tables)
 12 Months Ended
Dec. 31, 2022
Other Income and Expenses [Abstract]  
Components of Other Earnings
($ in millions)202220212020
Gain on sale of assets(1)
($10)($47)($5)
Royalty income(8)(8)(7)
Share of net earnings of equity affiliates (See Note 5)
(25)(15)(8)
Income from legal settlements— (22)— 
Other, net(17)(51)56 
Total (income)/charges, net($60)($143)$36 
(1)In 2021, PPG recognized a $34 million gain on the sale of a production facility in connection with the Company’s manufacturing footprint consolidation plans and associated restructuring programs.
v3.22.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-based Payment Arrangement [Abstract]  
Share-based Compensation, Stock Options, Activity
($ in millions)202220212020
Total stock-based compensation$35 $57 $44 
Income tax benefit recognized$8 $12 $10 
Weighted Average Assumptions Used in Calculating the Fair Value of Stock Option
The following weighted average assumptions were used to calculate the fair values of stock option grants in each year:
202220212020
Weighted average exercise price$151.87 $136.60 $119.52 
Risk-free interest rate2.0 %1.0 %1.6 %
Expected life of option in years6.56.56.5
Expected dividend yield1.6 %1.6 %1.5 %
Expected volatility25.7 %25.3 %20.0 %
Stock Options Outstanding, Exercisable and Activity
Stock Options Outstanding and ExercisableNumber of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Life (in years)Intrinsic Value (in millions)
Outstanding, January 1, 2022
3,340,402 $110.98 6.1
Granted487,277 $151.87   
Exercised(158,837)$77.24   
Forfeited/Expired(151,391)$134.34   
Outstanding, December 31, 2022
3,517,451 $117.16 5.7$47 
Vested or expected to vest, December 31, 2022
3,444,650 $116.57 5.6$47 
Exercisable, December 31, 2022
2,039,716 $104.58 4.0$43 
Stock Option Activity
The following table presents stock option activity for the years ended December 31, 2022, 2021 and 2020:
($ in millions)202220212020
Total intrinsic value of stock options exercised$12 $32 $31 
Cash received from stock option exercises$12 $47 $54 
Income tax benefit from the exercise of stock options$3 $8 $7 
Total fair value of stock options vested$16 $11 $11 
RSU Activity
RSU ActivityNumber of SharesWeighted Average Grant Date Fair Value
Outstanding, January 1, 2022
622,055 $125.92 
Granted232,050 $147.77 
Vested(199,642)$147.36 
Forfeited(65,075)$122.60 
Outstanding, December 31, 2022
589,388 $136.99 
Vested or expected to vest, December 31, 2022
563,900 $136.67 
v3.22.4
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from External Customers by Geographic Areas
Net sales by segment and region for the years ended December 31, 2022, 2021 and 2020 were as follows:
($ in millions)202220212020
Performance Coatings
United States and Canada$4,718 $4,366 $3,673 
EMEA3,550 3,582 2,861 
Asia Pacific1,118 1,254 1,015 
Latin America1,308 1,131 946 
Total$10,694 $10,333 $8,495 
Industrial Coatings
United States and Canada$2,666 $2,310 $1,995 
EMEA1,908 1,854 1,467 
Asia Pacific1,705 1,723 1,416 
Latin America679 582 461 
Total$6,958 $6,469 $5,339 
Total Net Sales(1)
United States and Canada(2)
$7,384 $6,676 $5,668 
EMEA5,458 5,436 4,328 
Asia Pacific2,823 2,977 2,431 
Latin America1,987 1,713 1,407 
Total PPG$17,652 $16,802 $13,834 
(1)Net sales to external customers are attributed to geographic regions based upon the location of the operating unit shipping the product.
(2)Net sales recognized in the United States represented 38%, 36%, and 37% of the Company’s total Net sales for the years ended December 31, 2022, 2021 and 2020, respectively.
Accounts Receivable, Allowance for Credit Loss
The following table summarizes allowance for doubtful accounts activity for the years ended December 31, 2022 and 2021:
Trade Receivables Allowance for Doubtful Accounts
($ in millions)20222021
January 1$31 $44 
Bad debt expense52 19 
Recoveries of previously reserved trade receivables(55)(14)
Other3 (18)
December 31$31 $31 
v3.22.4
Reportable Business Segment Information (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Reportable Business Segment
($ in millions)202220212020
Net sales to external customers
Performance Coatings$10,694 $10,333 $8,495 
Industrial Coatings6,958 6,469 5,339 
Total Net sales$17,652 $16,802 $13,834 
Segment income
Performance Coatings$1,399 $1,491 $1,359 
Industrial Coatings643 680 750 
Total Segment income$2,042 $2,171 $2,109 
Corporate / Non-Segment Items
Corporate unallocated(218)(194)(233)
Interest expense, net of interest income(113)(95)(115)
Impairment and other related charges, net(1)
(245)(21)(93)
Business restructuring-related costs, net(2)
(75)(27)(224)
Transaction-related costs, net(3)
(10)(86)(9)
Pension settlement charge— (50)— 
Environmental remediation charges, net— (35)(26)
Expense incurred due to natural disasters(4)
— (17)(17)
Change in allowance for doubtful accounts related to COVID-19— 14 (30)
Income from legal settlements— 22 — 
Asbestos-related claims reserve adjustment(5)
— 133 — 
Total Income before income taxes$1,381 $1,815 $1,362 
($ in millions)202220212020
Depreciation and amortization
Performance Coatings$296 $308 $251 
Industrial Coatings207 212 200 
Corporate / Non-Segment Items51 41 58 
Total$554 $561 $509 
Share of net earnings of equity affiliates
Performance Coatings$7 $5 $3 
Corporate / Non-Segment Items18 10 5 
Total $25 $15 $8 
Segment assets(6)
Performance Coatings$13,088 $13,395 $11,551 
Industrial Coatings5,802 5,807 5,040 
Corporate / Non-Segment Items1,854 2,149 2,965 
Total$20,744 $21,351 $19,556 
Investment in equity affiliates
Performance Coatings$42 $33 $31 
Industrial Coatings15 15 15 
Corporate / Non-Segment Items77 78 74 
Total $134 $126 $120 
Expenditures for property (including business acquisitions)
Performance Coatings$254 $1,698 $1,293 
Industrial Coatings313 784 166 
Corporate / Non-Segment Items65 26 14 
Total$632 $2,508 $1,473 
Geographic Information
($ in millions)202220212020
Geographic Information
Segment income   
United States and Canada$819 $865 $855 
EMEA505 612 572 
Asia Pacific332 354 382 
Latin America386 340 300 
Total$2,042 $2,171 $2,109 
Property, plant and equipment — net   
United States and Canada$1,394 $1,377 $1,351 
EMEA943 1,069 857 
Asia Pacific685 702 623 
Latin America306 294 296 
Total$3,328 $3,442 $3,127 
(1)In the first quarter 2022, the Company recorded impairment and other related charges due to the wind down of the company’s operations in Russia. Subsequently, the Company released a portion of the previously established reserves for Receivables and Inventories due to the collection of certain trade receivables and the realization of certain inventories. Also in 2022, impairment and other related charges were recorded for the write-down of certain assets and liabilities related to the planned sale of a non-core business and for certain asset write downs. In 2021 and 2020, impairment charges were recorded for the write-down of certain assets related to the previously planned sale of certain smaller entities in non-strategic regions. Also in 2020, an impairment charge was recorded to reduce the carrying value of an indefinite-lived trademark.
(2)Included in business restructuring-related costs, net are business restructuring charges, accelerated depreciation of certain assets and other related costs, offset by releases related to previously approved programs and a $34 million gain on the sale of certain assets in 2021 in connection with the Company’s manufacturing footprint consolidation plans and associated restructuring programs. This gain is included in Other (income)/charges, net in the consolidated statement of income.
(3)Transaction-related costs, net include advisory, legal, accounting, valuation, other professional or consulting fees, and certain internal costs directly incurred to effect acquisitions. These costs are included in Selling, general and administrative expense in the statement of income. Acquisition-related costs, net also include the impact for the step up to fair value of inventory acquired in certain acquisitions which are included in Cost of Sales, exclusive of depreciation and amortization in the consolidated statement of income.
(4)In 2020, two hurricanes damaged a southern U.S. factory supporting the Company's specialty coatings and materials business. In early 2021, a winter storm further damaged that factory as well as other company factories in the southern U.S. Incremental expenses incurred due to these storms included costs related to maintenance and repairs of damaged property, freight and utility premiums and other incremental expenses directly related to the impacted areas.
(5)In 2021, the reserve for asbestos-related claims was reduced to reflect the Company’s current estimate of potential liability for these claims.
(6)Segment assets are the total assets used in the operation of each segment. Corporate assets principally include amounts recorded in Cash and cash equivalents, Deferred income taxes, and Property, plant and equipment, net on the consolidated balance sheet.
v3.22.4
Summary of Significant Accounting Policies (Additional Information) (Detail)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
USD ($)
Dec. 31, 2022
USD ($)
Segment
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Advertising costs expensed   $ 252 $ 243 $ 223
Research and development – total   470 463 401
Less: depreciation on research facilities   22 24 22
Research and development, net   $ 448 439 379
Number of operating segments | Segment   10    
Tangible asset impairment charges $ 201      
Impairment of intangible assets, indefinite-lived (excluding goodwill)   $ 4   $ 38
Asset retirement obligation   $ 23 $ 22  
Indefinite-lived Intangible Assets        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Tangible asset impairment charges 124      
Finite-Lived Intangible Assets        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Tangible asset impairment charges $ 23      
Minimum        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Identifiable intangible assets with finite lives estimated useful lives   1 year    
Maximum        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Identifiable intangible assets with finite lives estimated useful lives   30 years    
v3.22.4
Acquisitions (Detail)
Dec. 31, 2021
Jun. 10, 2021
Jun. 09, 2021
Tikkurila      
Business Acquisition [Line Items]      
Business acquisition, percentage of voting interests acquired 100.00% 97.10% 9.30%
v3.22.4
Working Capital Detail (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Disclosure Components Of Working Capital Detail [Abstract]    
Trade - net $ 2,824 $ 2,687
Other - net 479 465
Total 3,303 3,152
Finished products 1,209 1,175
Work in process 238 234
Raw materials 784 723
Supplies 41 39
Total 2,272 2,171
Trade 2,538 2,734
Accrued payroll 501 534
Customer rebates 377 368
Other postretirement and pension benefits 77 87
Income taxes 37 36
Other 557 633
Total $ 4,087 $ 4,392
v3.22.4
Working Capital Detail (Additional Information) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Disclosure Components Of Working Capital Detail [Abstract]    
Percentage of inventories valued using the LIFO method 21.00% 29.00%
FIFO adjustment $ 272 $ 174
v3.22.4
Property, Plant and Equipment (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Property, Plant, and Equipment Disclosure [Line Items]      
Property $ 7,977 $ 7,974  
Accumulated depreciation, depletion and amortization, property, plant, and equipment 4,649 4,532  
Property, plant and equipment, net 3,328 3,442 $ 3,127
Land and land improvements      
Property, Plant, and Equipment Disclosure [Line Items]      
Property $ 548 570  
Land and land improvements | Minimum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 1 year    
Land and land improvements | Maximum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 30 years    
Buildings      
Property, Plant, and Equipment Disclosure [Line Items]      
Property $ 1,774 1,769  
Buildings | Minimum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 20 years    
Buildings | Maximum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 40 years    
Machinery and equipment      
Property, Plant, and Equipment Disclosure [Line Items]      
Property $ 3,960 3,949  
Machinery and equipment | Minimum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 5 years    
Machinery and equipment | Maximum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 25 years    
Other      
Property, Plant, and Equipment Disclosure [Line Items]      
Property $ 1,203 1,177  
Other | Minimum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 3 years    
Other | Maximum      
Property, Plant, and Equipment Disclosure [Line Items]      
Property useful lives 20 years    
Construction in progress      
Property, Plant, and Equipment Disclosure [Line Items]      
Property $ 492 $ 509  
v3.22.4
Investments (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]      
Investments $ 244 $ 274  
Equity in undistributed earnings losses of subsidiaries 25 15 $ 8
Proceeds from dividends received 17 9 $ 18
Investments in equity affiliates      
Debt and Equity Securities, FV-NI [Line Items]      
Investments 134 126  
Marketable equity securities (See Note 11) | Trading Securities      
Debt and Equity Securities, FV-NI [Line Items]      
Investments 61 98  
Other      
Debt and Equity Securities, FV-NI [Line Items]      
Investments $ 49 $ 50  
Investments In Other Operating Joint Venture | Minimum      
Debt and Equity Securities, FV-NI [Line Items]      
Percentage of ownership interests 20.00%    
Investments In Other Operating Joint Venture | Maximum      
Debt and Equity Securities, FV-NI [Line Items]      
Percentage of ownership interests 50.00%    
v3.22.4
Goodwill and Other Identifiable Intangible Assets (Carrying Amount of Goodwill Attributable to Each Reportable Segment) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Goodwill [Roll Forward]    
Beginning Balance $ 6,248 $ 5,102
Goodwill from acquisitions 46 1,365
Goodwill, Impairment Loss (40)  
Currency translation (176) (219)
Ending Balance 6,078 6,248
Performance Coatings Segment    
Goodwill [Roll Forward]    
Beginning Balance 5,034 4,023
Goodwill from acquisitions 31 1,188
Goodwill, Impairment Loss (40)  
Currency translation (144) (177)
Ending Balance 4,881 5,034
Industrial Coatings Segment    
Goodwill [Roll Forward]    
Beginning Balance 1,214 1,079
Goodwill from acquisitions 15 177
Goodwill, Impairment Loss 0  
Currency translation (32) (42)
Ending Balance $ 1,197 $ 1,214
v3.22.4
Goodwill and Other Identifiable Intangible Assets (Identifiable Intangible Assets with Finite Lives) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]    
Carrying amount of acquired trademarks with indefinite lives $ 1,325 $ 1,449
Gross carrying amount 3,043 3,205
Intangible assets, gross (excluding goodwill) 4,368 4,654
Accumulated amortization (1,954) (1,871)
Intangible assets, accumulated amortization (excluding goodwill)   1,871
Net 1,089 1,334
Total Identifiable Intangible Assets 2,414 2,783
Acquired technology    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 827 862
Accumulated amortization (636) (616)
Net 191 246
Customer-related    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 1,855 1,956
Accumulated amortization (1,112) (1,064)
Net 743 892
Trade names    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 311 336
Accumulated amortization (158) (144)
Net 153 192
Other    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 50 51
Accumulated amortization (48) (47)
Net $ 2 $ 4
v3.22.4
Goodwill and Other Identifiable Intangible Assets (Additional Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]      
Impairment of Intangible Assets (Excluding Goodwill) $ 147    
Impairment of intangible assets, indefinite-lived (excluding goodwill) 4   $ 38
Aggregate amortization expense of identifiable intangible assets $ 166 $ 172 $ 138
v3.22.4
Goodwill and Other Identifiable Intangible Assets (Identifiable Intangible Assets, Future Amortization) (Detail)
$ in Millions
Dec. 31, 2022
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2023 $ 150
2024 127
2025 115
2026 93
2027 $ 85
v3.22.4
Impairment and Other Related Charges (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]        
Impairment and other related charges, net $ (290) $ (245) $ (21) $ (93)
Tangible asset impairment charges 201      
Other asset impairment charges 89 245 21 93
Release of asset impairment charges   63    
Disposal Group, Held-for-sale, Not Discontinued Operations        
Restructuring Cost and Reserve [Line Items]        
Impairment and other related charges, net   $ (14) $ (21) $ (52)
Revenue Benchmark | Geographic Concentration Risk | Russia        
Restructuring Cost and Reserve [Line Items]        
Service revenue, percentage of total revenue   1.00% 1.00%  
Revenue Benchmark | Business Concentration Risk | Smaller Non-Strategic Businesses        
Restructuring Cost and Reserve [Line Items]        
Service revenue, percentage of total revenue   1.00% 1.00% 1.00%
Indefinite-lived Intangible Assets        
Restructuring Cost and Reserve [Line Items]        
Tangible asset impairment charges 124      
Property, Plant and Equipment        
Restructuring Cost and Reserve [Line Items]        
Tangible asset impairment charges 54      
Finite-Lived Intangible Assets        
Restructuring Cost and Reserve [Line Items]        
Tangible asset impairment charges $ 23      
v3.22.4
Business Restructuring (Additional Information) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Restructuring Reserve [Roll Forward]      
Beginning balance $ 231 $ 293  
Approved restructuring actions 33 31 $ 174
Restructuring, cash payments (85) (77) (126)
Restructuring reserve, foreign currency impact, gain (loss) (10) (16)  
Ending balance 169 231 $ 293
Restructuring Charges      
Restructuring Reserve [Roll Forward]      
Approved restructuring actions 84 54  
Restructuring, release of prior reserves and other adjustments $ 51 $ 23  
v3.22.4
Leases - Schedule of Components of Lease Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Lessee, Lease, Description [Line Items]      
Total operating lease cost $ 259 $ 260 $ 240
Finance lease cost:      
Amortization of right-of-use assets 2 2 2
Interest on lease liabilities 1 1 1
Total finance lease cost 3 3 3
Total lease cost 262 263 243
Variable lease costs 18 18 17
Short-term lease costs 22 16 8
Cost of sales, exclusive of depreciation and amortization      
Lessee, Lease, Description [Line Items]      
Total operating lease cost 43 41 34
Selling, general and administrative      
Lessee, Lease, Description [Line Items]      
Total operating lease cost $ 216 $ 219 $ 206
v3.22.4
Leases - Schedule of Classification on the Condensed Consolidated Balance Sheet (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Assets:    
Operating $ 829 $ 891
Finance $ 15 $ 13
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant and equipment, net Property, plant and equipment, net
Total leased assets $ 844 $ 904
Current    
Operating 183 192
Finance $ 3 $ 3
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Debt, Current Debt, Current
Noncurrent    
Operating $ 636 $ 693
Finance $ 7 $ 7
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term debt Long-term debt
Total lease liabilities $ 829 $ 895
Finance lease ROU asset, accumulated depreciation $ 14 $ 13
v3.22.4
Leases - Schedule of Cash Paid for Lease Liabilities and Right-of-Use Assets Obtained in Exchange for Lease Obligations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Leases [Abstract]      
Operating cash flows paid for operating leases $ 218 $ 224 $ 212
Operating cash flows paid for finance leases 1 1 1
Financing cash flows paid for finance leases 2 3 2
Operating leases 161 253 227
Finance leases $ 3 $ 0 $ 4
v3.22.4
Leases - Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate (Details)
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Leases [Abstract]      
Weighted-average remaining lease term, operating leases 6 years 8 months 12 days 7 years 1 month 6 days 7 years 4 months 24 days
Weighted-average remaining lease term, finance leases 9 years 6 years 4 months 24 days 6 years 1 month 6 days
Weighted-average discount rate, operating leases 2.60% 2.10% 2.40%
Weighted-average discount rate, finance leases 5.70% 5.80% 7.00%
v3.22.4
Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Operating Leases    
2023 $ 201  
2024 166  
2025 129  
2026 100  
2027 78  
Thereafter 219  
Total lease payments 893  
Less: Interest 74  
Total lease obligations, operating leases 819  
Finance Leases    
2023 3  
2024 2  
2025 2  
2026 1  
2027 1  
Thereafter 3  
Total lease payments 12  
Less: Interest 2  
Total lease obligations, finance leases $ 10 $ 10
v3.22.4
Borrowings and Lines of Credit (Long-term Debt Obligations) (Details) - USD ($)
 1 Months Ended 12 Months Ended
Aug. 31, 2020
Mar. 31, 2021
May 30, 2020
Dec. 31, 2022
Dec. 31, 2020
May 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Jun. 30, 2021
May 31, 2020
Feb. 28, 2018
Debt Instrument [Line Items]                      
Long-term debt       $ 6,796,000,000       $ 6,565,000,000      
Line of credit, amount outstanding       0       0      
Finance lease obligation       10,000,000       10,000,000      
Long-Term Debt, Adjustments Due To Derivatives       (20,000,000)       36,000,000      
Long-term debt and finance lease obligations       6,806,000,000       6,575,000,000      
Less payments due within one year       303,000,000       3,000,000      
Long-term debt       $ 6,503,000,000       6,572,000,000      
Effective interest rates       4.40%              
3.2% Notes due 2023                      
Debt Instrument [Line Items]                      
Long-term debt       $ 300,000,000       $ 299,000,000      
Interest rate swaps                     $ 150,000,000
Effective interest rates       2.20%       0.60%      
Debt instrument, interest rate, stated percentage       3.20%              
Notional amount of non-derivative instruments       $ 300,000,000              
Term Loan Credit Agreement, due 2024                      
Debt Instrument [Line Items]                      
Long-term debt       1,099,000,000       $ 1,399,000,000      
2.4% Notes due 2024                      
Debt Instrument [Line Items]                      
Long-term debt       $ 299,000,000       298,000,000      
Debt instrument, interest rate, stated percentage       2.40%              
Notes 0.875% Due 2025                      
Debt Instrument [Line Items]                      
Long-term debt       $ 639,000,000       677,000,000      
1.875% Notes Due 2025 [Member]                      
Debt Instrument [Line Items]                      
Long-term debt       319,000,000       0      
Debt instrument, interest rate, stated percentage           1.875%          
1.200% Notes due 2026                      
Debt Instrument [Line Items]                      
Long-term debt       694,000,000       692,000,000      
Debt instrument, interest rate, stated percentage   1.20%                  
Notional amount of non-derivative instruments   $ 700,000,000                  
Notes 1.4 Percent Due 2027                      
Debt Instrument [Line Items]                      
Long-term debt       $ 638,000,000       677,000,000      
Debt instrument, interest rate, stated percentage       1.40%              
3.75% Notes due 2028                      
Debt Instrument [Line Items]                      
Long-term debt       $ 809,000,000       $ 811,000,000      
Interest rate swaps                     $ 375,000,000
Effective interest rates       2.60%       1.00%      
Debt instrument, interest rate, stated percentage       3.75%       3.75%      
Notional amount of non-derivative instruments $ 100,000,000     $ 800 $ 700,000,000            
2.8% Notes due 2029                      
Debt Instrument [Line Items]                      
Long-term debt       $ 298,000,000       $ 298,000,000      
Debt instrument, interest rate, stated percentage       2.80%              
2.750% Notes Due 2029                      
Debt Instrument [Line Items]                      
Long-term debt       $ 743,000,000       0      
Debt instrument, interest rate, stated percentage           2.75%          
Notes 2.5 Percent Due 2029                      
Debt Instrument [Line Items]                      
Long-term debt       $ 85,000,000       90,000,000      
Debt instrument, interest rate, stated percentage       2.50%              
2.55% Notes Due 2030 [Member]                      
Debt Instrument [Line Items]                      
Long-term debt       $ 297,000,000       296,000,000      
Debt instrument, interest rate, stated percentage                   2.55%  
Notional amount of non-derivative instruments     $ 300,000,000                
1.95% Notes due 2037                      
Debt Instrument [Line Items]                      
Long-term debt       52,000,000       0      
Debt instrument, interest rate, stated percentage             1.95%        
Notes 7.70 Percent Due 2038                      
Debt Instrument [Line Items]                      
Long-term debt       $ 174,000,000       174,000,000      
Debt instrument, interest rate, stated percentage       7.70%              
Notes 5.5 Percent Due 2040                      
Debt Instrument [Line Items]                      
Long-term debt       $ 247,000,000       247,000,000      
Debt instrument, interest rate, stated percentage       5.50%              
Notes 3.0 Percent Due 2044                      
Debt Instrument [Line Items]                      
Long-term debt       $ 122,000,000       130,000,000      
Debt instrument, interest rate, stated percentage       3.00%              
Commercial paper                      
Debt Instrument [Line Items]                      
Line of credit, amount outstanding       $ 0       440,000,000      
Other Non-US Debt                      
Debt Instrument [Line Items]                      
Long-term debt       $ 1,000,000       $ 1,000,000 $ 30,000,000    
Long-term debt, percentage bearing variable interest, percentage rate       4.40%       3.10%      
v3.22.4
Borrowings and Lines of Credit (Additional Information) (Details)
 1 Months Ended 3 Months Ended 12 Months Ended
Aug. 31, 2020
USD ($)
Aug. 30, 2019
USD ($)
May 31, 2022
USD ($)
Mar. 31, 2022
EUR (€)
Dec. 31, 2021
USD ($)
Jun. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Aug. 31, 2020
USD ($)
Jun. 30, 2020
USD ($)
May 30, 2020
USD ($)
Apr. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
Aug. 31, 2019
USD ($)
Jun. 30, 2021
USD ($)
instrument
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
May 31, 2022
EUR (€)
Feb. 28, 2021
USD ($)
May 31, 2020
Debt Instrument [Line Items]                                        
Proceeds from issuance of debt     $ 1,061,000,000       $ 692,000,000 $ 119,000,000   $ 296,000,000                    
Debt instrument, number of obligations matured | instrument                           2            
Long-term debt         $ 6,565,000,000                   $ 6,796,000,000 $ 6,565,000,000        
Repayments of debt                           $ 170,000,000 0 847,000,000 $ 500,000,000      
Proceeds from revolving credit facility                             0 0 800,000,000      
repayments of long-term lines of credit                             300,000,000 0 0      
Short-term borrowings         6,000,000                   10,000,000 6,000,000        
Repayments of medium-term notes                             $ 0 400,000,000 1,100,000,000      
Line of credit facility, maximum borrowing capacity   $ 2,200,000,000                                    
Line of credit facility, additional borrowings capacity available   $ 750,000,000                                    
Effective interest rates                             4.40%          
Debt instrument, covenant, total indebtedness to total capitalization ratio, maximum, percentage                         0.60              
Debt instrument, covenant, acquisition for consideration, minimum threshold                         $ 1,000,000,000              
Debt instrument, covenant, total indebtedness to total capitalization ratio, maximum when acquisition for consideration threshold is met, percentage                         0.65              
Debt instrument, total indebtedness to total capitalization, percentage                             0.49          
Line of credit, amount outstanding         0                   $ 0 0        
Outstanding letters of credit and surety bonds         173,000,000                   231,000,000 173,000,000        
Repayments of Lines of Credit                             0 0 800,000,000      
$1.5 billion 364-Day Term Loan [Member]                                        
Debt Instrument [Line Items]                                        
Debt instrument, term                     364 days                  
Short-term borrowings                     $ 1,500,000,000                  
Non-callable Debentures 9 Percent Due 2021                                        
Debt Instrument [Line Items]                                        
Debt instrument, interest rate, stated percentage           9.00%               9.00%            
Long-term debt           $ 134,000,000               $ 134,000,000            
Unsecured Debt | Revolving Credit Facility [Member]                                        
Debt Instrument [Line Items]                                        
Debt instrument, term                         5 years              
Long-term debt         0                   0 0        
Proceeds from revolving credit facility                       $ 800,000,000                
Repayments of Lines of Credit                     $ 800,000,000                  
Term Loan Credit Agreement, due 2024                                        
Debt Instrument [Line Items]                                        
Debt instrument, face amount                                     $ 2,000,000,000  
Long-term debt         1,399,000,000                   1,099,000,000 1,399,000,000        
Proceeds from revolving credit facility         700,000,000 700,000,000                            
repayments of long-term lines of credit                             300,000,000          
1.875% Notes Due 2025 [Member]                                        
Debt Instrument [Line Items]                                        
Debt instrument, face amount | €                                   € 300,000,000    
Debt instrument, interest rate, stated percentage                                   1.875%    
Debt instrument, redemption price, percentage     101.00%                                  
Long-term debt         0                   319,000,000 0        
2.750% Notes Due 2029                                        
Debt Instrument [Line Items]                                        
Debt instrument, face amount | €                                   € 700,000,000    
Debt instrument, interest rate, stated percentage                                   2.75%    
Debt instrument, redemption price, percentage     101.00%                                  
Long-term debt         0                   743,000,000 0        
1.95% Notes due 2037                                        
Debt Instrument [Line Items]                                        
Debt instrument, face amount | €       € 50,000,000                                
Debt instrument, interest rate, stated percentage       1.95%                                
Debt instrument, term       15 years                                
Long-term debt         0                   52,000,000 0        
1.200% Notes due 2026                                        
Debt Instrument [Line Items]                                        
Debt instrument, interest rate, stated percentage             1.20%                          
Debt instrument, redemption price, percentage       101.00%                                
Long-term debt         692,000,000                   $ 694,000,000 692,000,000        
Notional amount of nonderivative instruments             $ 700,000,000                          
Notes 0.875 Percent Due 2022                                        
Debt Instrument [Line Items]                                        
Debt instrument, interest rate, stated percentage                             0.875%          
Other Non-US Debt                                        
Debt Instrument [Line Items]                                        
Long-term debt         $ 1,000,000 $ 30,000,000               $ 30,000,000 $ 1,000,000 $ 1,000,000        
3.75% Notes due 2028                                        
Debt Instrument [Line Items]                                        
Debt instrument, interest rate, stated percentage         3.75%                   3.75% 3.75%        
Debt instrument, redemption price, percentage 101.00%                                      
Long-term debt         $ 811,000,000                   $ 809,000,000 $ 811,000,000        
Notional amount of nonderivative instruments $ 100,000,000                           $ 800   $ 700,000,000      
Effective interest rates         1.00%                   2.60% 1.00%        
Notes 3.6 Percent Due 2020                                        
Debt Instrument [Line Items]                                        
Debt instrument, interest rate, stated percentage                             3.60%          
Repayments of unsecured debt                 $ 500,000,000                      
Gain (loss) on extinguishment of debt                 7,000,000                      
Debt instrument, redemption charge, make-whole cash premium                 6,000,000                      
Write off of deferred debt issuance costs                 $ 1,000,000                      
2.55% Notes Due 2030 [Member]                                        
Debt Instrument [Line Items]                                        
Debt instrument, interest rate, stated percentage                                       2.55%
Debt instrument, redemption price, percentage                   101.00%                    
Long-term debt         $ 296,000,000                   $ 297,000,000 $ 296,000,000        
Notional amount of nonderivative instruments                   $ 300,000,000                    
Commercial paper                                        
Debt Instrument [Line Items]                                        
Long-term commercial paper, noncurrent         440,000,000                   0 440,000,000        
Line of credit, amount outstanding         $ 440,000,000                   0 $ 440,000,000        
Minimum                                        
Debt Instrument [Line Items]                                        
Line of credit facility, unused capacity, commitment fee, percentage   0.06%                                    
Periodic payment amount                             50,000,000          
Maximum                                        
Debt Instrument [Line Items]                                        
Line of credit facility, unused capacity, commitment fee, percentage   0.125%                                    
International Operations                                        
Debt Instrument [Line Items]                                        
Lines of credit, current borrowing capacity                             539,000,000          
Line of credit, amount outstanding                             $ 4,000,000          
v3.22.4
Borrowings and Lines of Credit (Long-term Debt Maturities) (Details)
$ in Millions
Dec. 31, 2022
USD ($)
Debt Disclosure [Abstract]  
2023 $ 303
2024 1,396
2025 959
2026 698
2027 642
Thereafter $ 2,808
v3.22.4
Borrowings and Lines of Credit (Short-term Debt Outstanding) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Debt Disclosure [Abstract]    
Short-term borrowings $ 10 $ 6
Weighted average interest rate 2.70% 0.70%
v3.22.4
Financial Instruments, Hedging Activities and Fair Value Measurements (Additional Information) (Detail)
€ in Billions
 12 Months Ended
Dec. 31, 2022
EUR (€)
Dec. 31, 2021
EUR (€)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Feb. 28, 2018
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Fair value of debt instrument designated as hedge of net investment in foreign operations     $ 2,600,000,000 $ 1,600,000,000      
Accumulated pretax unrealized translation gains     6,709,000,000 6,411,000,000 $ 5,815,000,000 $ 5,403,000,000  
Net Investment Hedging              
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Notional amount of nonderivative instruments | € € 2.5 € 1.4          
Foreign Currency Contracts              
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Notional amount of derivative instruments designated as net investment hedges     1,800,000,000 1,900,000,000      
Foreign currency contracts, liability, fair value disclosure     24,000,000 24,000,000      
Interest Rate Swap              
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Notional amount of derivative instruments designated as net investment hedges             $ 525,000,000
Interest rate derivatives, at fair value, net     20,000,000 36,000,000      
Cross Currency Swaps              
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Derivative instruments in hedges, net investment in foreign operations, assets, fair value, net     88,000,000 50,000,000      
Currency Swap              
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Notional amount of derivative instruments designated as net investment hedges     775,000,000        
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest              
Derivative Instruments and Hedging Activities Disclosure [Line Items]              
Accumulated pretax unrealized translation gains     $ 327,000,000 $ 204,000,000      
v3.22.4
Financial Instruments, Hedging Activities and Fair Value Measurements (Fair Value, Cash Flow and Net Investment Hedges) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Fair Value Hedging      
Derivatives, Fair Value [Line Items]      
Gain (Loss) Recognized Amount $ 8 $ 15 $ 12
Fair Value Hedging | Foreign Currency Contracts | Interest expense      
Derivatives, Fair Value [Line Items]      
Gain (Loss) Recognized Amount 8 15 12
Net Investment Hedging      
Derivatives, Fair Value [Line Items]      
Derivative financial instruments 123 226 (257)
Gain (Loss) Recognized Amount 16 13 16
Net Investment Hedging | Currency Swap      
Derivatives, Fair Value [Line Items]      
Derivative financial instruments 38 53 (57)
Gain (Loss) Recognized Amount 16 13 16
Net Investment Hedging | Other Foreign Currency Denominated Debt      
Derivatives, Fair Value [Line Items]      
Derivative financial instruments 85 173 (200)
Economic Hedging | Foreign Currency Contracts | Other Expense      
Derivatives, Fair Value [Line Items]      
Gain (Loss) Recognized Amount $ 43 $ 23 $ 30
v3.22.4
Financial Instruments, Hedging Activities and Fair Value Measurements (Assets and Liabilities Reported at Fair Value on a Recurring Basis) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Level 1 | Short-term Investments | Marketable Equity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets reported at fair value on a recurring basis $ 9 $ 6
Level 1 | Investments | Marketable Equity Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets reported at fair value on a recurring basis 61 98
Level 2 | Other Current Assets | Cross Currency Swaps    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets reported at fair value on a recurring basis 39  
Level 2 | Other Assets | Cross Currency Swaps    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets reported at fair value on a recurring basis 49 50
Liabilities reported at fair value on a recurring basis 1  
Level 2 | Other Assets | Interest Rate Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets reported at fair value on a recurring basis 0 36
Level 2 | Accounts Payable and Accrued Liabilities | Foreign Currency Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities reported at fair value on a recurring basis 3 4
Level 2 | Other Liabilities | Cross Currency Swaps    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities reported at fair value on a recurring basis 19 0
Not Designated as Hedging Instrument [Member] | Level 2 | Other Current Assets | Foreign Currency Contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets reported at fair value on a recurring basis $ 27 $ 28
v3.22.4
Financial Instruments, Hedging Activities and Fair Value Measurements (Long-Term Debt) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Fair Value Disclosures [Abstract]    
Long-term debt $ 6,796 $ 6,565
Long-term debt (excluding capital lease obligations), fair values 6,375 6,958
Total lease obligations, finance leases 10 10
Short-term borrowings $ 10 $ 6
v3.22.4
Earnings Per Common Share (Additional Detail) (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Earnings per common share (attributable to PPG)      
Income from continuing operations, net of tax $ 1,028 $ 1,420 $ 1,056
(Loss)/income from discontinued operations, net of tax (2) 19 3
Net income (attributable to PPG) $ 1,026 $ 1,439 $ 1,059
Weighted average common shares outstanding 236.1 237.6 236.8
Effect of dilutive securities:      
Stock options 0.5 1.0 0.4
Other stock compensation plans 0.7 0.8 0.7
Potentially dilutive common shares 1.2 1.8 1.1
Adjusted weighted average common shares outstanding 237.3 239.4 237.9
Earnings per common share (attributable to PPG)      
Continuing operations (in dollars per share) $ 4.35 $ 5.98 $ 4.46
Discontinued operations (in dollars per share) (0.01) 0.08 0.01
Net Income (attributable to PPG) (in dollars per share) 4.34 6.06 4.47
Earnings per common share - assuming dilution (attributable to PPG)      
Continuing operations (in dollars per share) 4.33 5.93 4.44
Discontinued operations (in dollars per share) (0.01) 0.08 0.01
Earnings per common share - assuming dilution (in dollars per share) $ 4.32 $ 6.01 $ 4.45
Outstanding stock options excluded from the computation of diluted earnings per share due to their antidilutive effect 0.9 0.0 1.4
v3.22.4
Income Taxes (Components of Income Tax Expense) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Current      
U.S. federal $ 137 $ 25 $ 12
U.S. state and local 20 13 6
Foreign 325 301 320
Total current income tax expense 482 339 338
Deferred      
U.S. federal (79) 12 1
U.S. state and local (7) 3 (3)
Foreign (71) 20 (45)
Total deferred income tax (benefit)/expense (157) 35 (47)
Total income tax expense $ 325 $ 374 $ 291
v3.22.4
Income Taxes (Reconciliation of Statutory U.S. Corporate Federal Income Tax Rate to Effective Income Tax Rate) (Detail)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Disclosure [Abstract]      
U.S. federal income tax rate 21.00% 21.00% 21.00%
Changes in rate due to:      
Taxes on non-U.S. earnings 3.60% 2.70% 3.30%
U.S. state and local taxes 0.70% 0.80% 0.30%
U.S. tax (benefit)/cost on foreign operations (0.40%) (1.60%) 0.10%
Tax benefits from equity awards (0.30%) (0.30%) (0.40%)
Change in valuation allowance reserves 0.60% 0.00% (1.40%)
U.S. tax incentives (1.00%) (0.60%) (0.90%)
Uncertain tax positions (0.40%) (1.40%) 0.90%
Other (0.30%)   (1.50%)
Effective income tax rate 23.50% 20.60% 21.40%
v3.22.4
Income Taxes (Additional Information) (Detail)
$ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
jurisdiction
subsidiary
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Income Taxes [Line Items]      
Effective income tax rate reconciliation, percent 23.50% 20.60% 21.40%
Effective income tax rate reconciliation, repatriation of foreign earnings and other reconciling items, percent 2.90%    
Income before income taxes of non-US operations $ 1,381 $ 1,815 $ 1,362
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 182 172  
Undistributed earnings of foreign subsidiaries $ 4,600    
Number of PPG subsidiaries | subsidiary 280    
Number of taxable jurisdictions | jurisdiction 80    
Income tax, potential U.S. tax cost for repatriation of foreign earnings $ 101    
Unrecognized tax benefits that would affect the effective tax rate, if recognized 120    
U.S.      
Income Taxes [Line Items]      
Income before income taxes of non-US operations 288 469 190
Non United States      
Income Taxes [Line Items]      
Income before income taxes of non-US operations $ 1,093 $ 1,346 $ 1,172
v3.22.4
Income Taxes (Net Deferred Income Tax Assets and Liabilities) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Income Tax Examination [Line Items]    
Employee benefits $ 275 $ 386
Contingent and accrued liabilities 67 74
Operating loss and other carry-forwards 218 278
Operating lease liabilities 203 215
Research and development amortization 149 68
Other 168 121
Valuation allowance 182 172
Deferred tax assets, net of valuation allowance 898 970
Property 223 278
Intangibles 720 814
Employee benefits 81 75
Operating lease right-of-use assets 206 216
Other 74 36
Deferred tax liabilities, gross 1,304 1,419
Deferred tax liabilities, net 406 449
Net operating loss carryforwards 150 183
Income tax credit carryforwards 89 115
Income tax, potential U.S. tax cost for repatriation of foreign earnings 101  
Deferred income tax assets related to    
Employee benefits 275 386
Contingent and accrued liabilities 67 74
Operating loss and other carry-forwards 218 278
Operating lease liabilities 203 215
Research and development amortization 149 68
Other 168 121
Valuation allowance (182) (172)
Total 898 970
Deferred income tax liabilities related to    
Property 223 278
Intangibles 720 814
Employee benefits 81 75
Operating lease right-of-use assets 206 216
Other 74 36
Total 1,304 1,419
Deferred income tax liabilities – net $ (406) (449)
Minimum    
Income Tax Examination [Line Items]    
Operating Loss Carryforwards, Expiration Date Dec. 31, 2023  
Tax Credit Carryforward, Expiration Date Dec. 31, 2023  
Maximum    
Income Tax Examination [Line Items]    
Operating Loss Carryforwards, Expiration Date Dec. 31, 2042  
Tax Credit Carryforward, Expiration Date Dec. 31, 2042  
Net Operating Loss, Indefinite Life    
Income Tax Examination [Line Items]    
Net operating loss carryforwards $ 84 106
Net Operating Loss, Expiring Within 20 Years    
Income Tax Examination [Line Items]    
Net operating loss carryforwards $ 66 $ 77
v3.22.4
Income Taxes (Unrecognized Tax Benefits) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balance $ 158 $ 175 $ 167
Current year tax positions - additions 19 12 25
Prior year tax positions - additions 2 10 5
Prior year tax positions - reductions (2) (2) (2)
Statute of limitations expirations (23) (19) (8)
Settlements (3) (21) (11)
Foreign currency translation (6) 3 (1)
Ending balance 145 158 175
Accrued interest and penalties related to unrecognized tax benefits 17 17 18
Loss/(income) recognized in income tax expense related to interest and penalties $ 1 $ (2) $ 2
v3.22.4
Employee Benefit Plans (Additional Information) (Detail) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2017
Dec. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Pension settlement charge         $ 50  
Reduction in projected benefit obligation due to non-cash settlement charge   $ 175        
ABO for all defined benefit pension plans   3,500   $ 2,300 $ 3,500  
Return on plan assets assumption       5.00% 4.80% 5.00%
Impact on net periodic pension expense       $ 8    
Weighted-average healthcare cost trend rate assumed for next fiscal year       5.40%    
Assumed ultimate health care cost trend rate       4.00%    
Aggregate PBO for the pension plans with PBO in excess of plan assets   2,232   $ 1,863 $ 2,232  
Aggregate fair value of plan assets for the pension plans with PBO in excess of plan assets   1,366   1,270 1,366  
Aggregate ABO for the pension plans with ABO in excess of plan assets   2,197   1,833 2,197  
Fair value of plan assets for the pension plans with ABO in excess of plan assets   $ 1,362   1,266 1,362  
Maximum            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Estimated future mandatory contributions, low end of range       20    
Scenario, Forecast            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Impact on net periodic pension expense     $ 5      
Weighted-average healthcare cost trend rate assumed for next fiscal year     5.80%      
Assumed ultimate health care cost trend rate     3.90%      
Pension Plan            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Contributions to defined benefit pension plans       11 10  
Defined Benefit Plan, Benefit Obligation, Benefits Paid       140 149  
Net actuarial gain arising during the year       (60)    
Estimated future benefit payments in 2022       148    
Estimated future benefit payments in 2023       166    
Estimated future benefit payments in 2024       153    
Estimated future benefit payments in 2025       157    
Estimated future benefit payments in 2026       160    
Estimated aggregate future benefits payments for the five years thereafter       825    
Other Postretirement Benefits            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Defined Benefit Plan, Benefit Obligation, Benefits Paid       44 45  
Net actuarial gain arising during the year       (174)    
Estimated future benefit payments in 2022       48    
Estimated future benefit payments in 2023       47    
Estimated future benefit payments in 2024       46    
Estimated future benefit payments in 2025       43    
Estimated future benefit payments in 2026       42    
Estimated aggregate future benefits payments for the five years thereafter       $ 192    
Other Postretirement Benefits | Scenario, Forecast            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Impact on net periodic pension expense     $ 1      
Postretirement Health Coverage            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Plan amendments $ 306          
Amortization reduction period 5 years 7 months 6 days          
Welfare Benefits - U.S.            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Percentage of defined benefit pension plan assets market value       87.00%    
United States            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Return on plan assets assumption       7.40%    
Percentage of defined benefit pension plan assets market value       95.00%    
United States | Scenario, Forecast            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Return on plan assets assumption     7.40%      
United States | Pension Plan            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Contributions to defined benefit pension plans       $ 0 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid       91 89  
United States | Other Postretirement Benefits            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Defined Benefit Plan, Benefit Obligation, Benefits Paid       40 41  
International            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Contributions to defined benefit pension plans       11 10 $ 17
International | Minimum            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Estimated future mandatory contributions, low end of range       10    
International | Scenario, Forecast            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Return on plan assets assumption     6.50%      
International | Pension Plan            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Contributions to defined benefit pension plans       11 10  
Defined Benefit Plan, Benefit Obligation, Benefits Paid       49 60  
International | Other Postretirement Benefits            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Defined Benefit Plan, Benefit Obligation, Benefits Paid       $ 4 $ 4  
Canada, Netherlands, And United Kingdom            
Pension and Other Postretirement Benefits Disclosure [Line Items]            
Percentage of defined benefit pension plan assets market value       95.00%    
v3.22.4
Employee Benefit Plans (Changes in Projected Benefit Obligations, Plan Assets and Funded Status) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance $ 2,975    
End balance 1,974 $ 2,975  
Amounts recognized in the Consolidated Balance Sheet:      
Accounts payable and accrued liabilities (77) (87)  
Other postretirement benefits (476) (672)  
Accrued pensions (566) (834)  
Pension Plan      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation, Beginning of year 3,534 3,975  
Service cost 9 9 $ 24
Interest cost 73 65 87
Actuarial gains (934) (163)  
Benefits paid (140) (149)  
Defined Benefit Plan, Benefit Obligation, Business Combination 0 48  
Foreign currency translation adjustments (126) (51)  
Settlements and curtailments (22) (198)  
Other (8) (2)  
Projected benefit obligation, End of year 2,386 3,534 3,975
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 2,975 3,216  
Actual return on plan assets (734) 108  
Company contributions 11 10  
Benefits paid (114) (123)  
Defined Benefit Plan, Plan Assets, Business Combination 0 3  
Plan settlements (22) (198)  
Foreign currency translation adjustments (140) (38)  
Other (2) (3)  
End balance 1,974 2,975 3,216
Funded Status (412) (559)  
Amounts recognized in the Consolidated Balance Sheet:      
Other assets (long-term) 183 310  
Accounts payable and accrued liabilities (29) (35)  
Accrued pensions (566) (834)  
Net (liability)/asset recognized (412) (559)  
Other Postretirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation, Beginning of year 724 786  
Service cost 8 12 10
Interest cost 16 14 20
Actuarial gains (174) (43)  
Benefits paid (44) (45)  
Foreign currency translation adjustments (6) 0  
Projected benefit obligation, End of year 524 724 786
Amounts recognized in the Consolidated Balance Sheet:      
Accounts payable and accrued liabilities (48) (52)  
Other postretirement benefits (476) (672)  
Net (liability)/asset recognized (524) (724)  
United States | Pension Plan      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation, Beginning of year 1,920 2,042  
Service cost 0 0  
Interest cost 45 39  
Actuarial gains (449) (72)  
Benefits paid (91) (89)  
Defined Benefit Plan, Benefit Obligation, Business Combination 0 0  
Foreign currency translation adjustments 0 0  
Settlements and curtailments 0 0  
Other 0 0  
Projected benefit obligation, End of year 1,425 1,920 2,042
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 1,329 1,335  
Actual return on plan assets (228) 66  
Company contributions 0 0  
Benefits paid (73) (72)  
Defined Benefit Plan, Plan Assets, Business Combination 0 0  
Plan settlements 0 0  
Foreign currency translation adjustments 0 0  
Other 0 0  
End balance 1,028 1,329 1,335
Funded Status (397) (591)  
Amounts recognized in the Consolidated Balance Sheet:      
Other assets (long-term) 0 0  
Accounts payable and accrued liabilities (17) (23)  
Accrued pensions (380) (568)  
Net (liability)/asset recognized (397) (591)  
United States | Other Postretirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation, Beginning of year 631 682  
Service cost 8 11  
Interest cost 13 12  
Actuarial gains (154) (33)  
Benefits paid (40) (41)  
Foreign currency translation adjustments 0 0  
Projected benefit obligation, End of year 458 631 682
Amounts recognized in the Consolidated Balance Sheet:      
Accounts payable and accrued liabilities (44) (47)  
Other postretirement benefits (414) (584)  
Net (liability)/asset recognized (458) (631)  
International      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Company contributions 11 10 17
International | Pension Plan      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation, Beginning of year 1,614 1,933  
Service cost 9 9  
Interest cost 28 26  
Actuarial gains (485) (91)  
Benefits paid (49) (60)  
Defined Benefit Plan, Benefit Obligation, Business Combination 0 48  
Foreign currency translation adjustments (126) (51)  
Settlements and curtailments (22) (198)  
Other (8) (2)  
Projected benefit obligation, End of year 961 1,614 1,933
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance 1,646 1,881  
Actual return on plan assets (506) 42  
Company contributions 11 10  
Benefits paid (41) (51)  
Defined Benefit Plan, Plan Assets, Business Combination 0 3  
Plan settlements (22) (198)  
Foreign currency translation adjustments (140) (38)  
Other (2) (3)  
End balance 946 1,646 1,881
Funded Status (15) 32  
Amounts recognized in the Consolidated Balance Sheet:      
Other assets (long-term) 183 310  
Accounts payable and accrued liabilities (12) (12)  
Accrued pensions (186) (266)  
Net (liability)/asset recognized (15) 32  
International | Other Postretirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation, Beginning of year 93 104  
Service cost 0 1  
Interest cost 3 2  
Actuarial gains (20) (10)  
Benefits paid (4) (4)  
Foreign currency translation adjustments (6) 0  
Projected benefit obligation, End of year 66 93 $ 104
Amounts recognized in the Consolidated Balance Sheet:      
Accounts payable and accrued liabilities (4) (5)  
Other postretirement benefits (62) (88)  
Net (liability)/asset recognized $ (66) $ (93)  
v3.22.4
Employee Benefit Plans (Accumulated Other Comprehensive Loss Pretax Amounts Not Yet Reflected in Net Periodic Benefit Cost) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Pension Plan    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated net actuarial losses/(gains) $ 748 $ 857
Accumulated prior service cost/(credit) 0 5
Total 748 862
Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated net actuarial losses/(gains) (16) 170
Accumulated prior service cost/(credit) (10) (21)
Total $ (26) $ 149
v3.22.4
Employee Benefit Plans (Change in Accumulated Other Comprehensive Loss (Pretax) Relating to Defined Benefit Pension and Other Postretirement Benefits) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Net actuarial gain arising during the year $ (174)    
New prior service cost 0    
Amortization of actuarial loss 12 $ 20 $ 15
Amortization of prior service credit 11 54 59
Foreign currency translation adjustments 0    
Impact of settlements 0    
Net decrease (175)    
Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Net actuarial gain arising during the year (60)    
New prior service cost (5)    
Amortization of actuarial loss 34 $ 39 $ 71
Amortization of prior service credit 0    
Foreign currency translation adjustments (9)    
Impact of settlements (6)    
Net decrease $ (114)    
v3.22.4
Employee Benefit Plans (Net Periodic Benefit Costs) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 8 $ 12 $ 10
Interest cost 16 14 20
Amortization of prior service credit (11) (54) (59)
Amortization of actuarial losses 12 20 15
Net periodic benefit (income)/cost 25 (8) (14)
Pension Plan      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 9 9 24
Interest cost 73 65 87
Expected return on plan assets 140 152 144
Amortization of prior service credit 0    
Amortization of actuarial losses 34 39 71
Settlements, curtailments, and special termination benefits 6 53 18
Net periodic benefit (income)/cost $ (18) $ 14 $ 56
v3.22.4
Employee Benefit Plans (Weighted Average Assumptions Used to Determine Benefit Obligation for Defined Benefit Pension and Other Postretirement Plans) (Detail)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]      
Discount rate used to calculate benefit obligation 5.20% 2.50%  
Rate of compensation increase 2.70% 2.60%  
Return on plan assets assumption 5.00% 4.80% 5.00%
United States      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate used to calculate benefit obligation 5.40% 2.80%  
Rate of compensation increase 2.50% 2.50%  
Return on plan assets assumption 7.40%    
International      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate used to calculate benefit obligation 4.90% 2.00%  
Rate of compensation increase 3.10% 2.80%  
v3.22.4
Employee Benefit Plans (Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost for Defined Benefit Pension and Other Postretirement Plans) (Detail)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate used to calculate benefit obligation 5.20% 2.50%  
Discount rate 2.50% 2.10% 2.80%
Expected return on assets 5.00% 4.80% 5.00%
Rate of compensation increase 2.60% 1.50% 2.60%
United States      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate used to calculate benefit obligation 5.40% 2.80%  
Expected return on assets 7.40%    
v3.22.4
Employee Benefit Plans (Weighted Average Target Pension Plan Asset Allocations) (Detail)
Dec. 31, 2022
Dec. 31, 2021
Minimum | Equity Securities    
Asset Category    
Weighted average target pension plan asset allocation, minimum 15.00% 15.00%
Minimum | Debt securities    
Asset Category    
Weighted average target pension plan asset allocation, minimum 30.00% 30.00%
Minimum | Real Estate    
Asset Category    
Weighted average target pension plan asset allocation, minimum 0.00% 0.00%
Minimum | Other    
Asset Category    
Weighted average target pension plan asset allocation, minimum 20.00% 20.00%
Maximum | Equity Securities    
Asset Category    
Weighted average target pension plan asset allocation, minimum 45.00% 45.00%
Maximum | Debt securities    
Asset Category    
Weighted average target pension plan asset allocation, minimum 65.00% 65.00%
Maximum | Real Estate    
Asset Category    
Weighted average target pension plan asset allocation, minimum 10.00% 10.00%
Maximum | Other    
Asset Category    
Weighted average target pension plan asset allocation, minimum 40.00% 40.00%
v3.22.4
Employee Benefit Plans (Fair Values of the Company's Pension Plan Assets by Asset Category) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets $ 1,974 $ 2,975  
Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 1,529 2,358  
Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 246 333  
Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 606 1,071  
Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 677 954 $ 916
Fair Value Measured at Net Asset Value Per Share      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 445 617  
Defined Benefit Plan, Equity Securities, US, Large Cap | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 109 157  
Defined Benefit Plan, Equity Securities, US, Large Cap | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 66 79  
Defined Benefit Plan, Equity Securities, US, Large Cap | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 43 78  
Defined Benefit Plan, Equity Securities, US, Large Cap | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Defined Benefit Plan, Equity Securities, US, Small Cap | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 25 48  
Defined Benefit Plan, Equity Securities, US, Small Cap | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 25 48  
Defined Benefit Plan, Equity Securities, US, Small Cap | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Defined Benefit Plan, Equity Securities, US, Small Cap | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Defined Benefit Plan, Equity Securities, Non-US | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 142 206  
Defined Benefit Plan, Equity Securities, Non-US | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 99 130  
Defined Benefit Plan, Equity Securities, Non-US | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 43 76  
Defined Benefit Plan, Equity Securities, Non-US | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Defined Benefit Plan, Cash and Cash Equivalents | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 54 50  
Defined Benefit Plan, Cash and Cash Equivalents | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 7 8  
Defined Benefit Plan, Cash and Cash Equivalents | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 47 42  
Defined Benefit Plan, Cash and Cash Equivalents | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Debt Security, Corporate, US | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 248 332  
Debt Security, Corporate, US | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Debt Security, Corporate, US | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 168 232  
Debt Security, Corporate, US | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 80 100  
Debt Security, Developed Markets And Emerging Economies | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 1 1  
Debt Security, Developed Markets And Emerging Economies | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Debt Security, Developed Markets And Emerging Economies | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 1 1  
Debt Security, Developed Markets And Emerging Economies | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Debt Security, Diverse Portfolio | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 13 57  
Debt Security, Diverse Portfolio | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Debt Security, Diverse Portfolio | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 13 57  
Debt Security, Diverse Portfolio | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
US Government Agencies Debt Securities | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 59 81  
US Government Agencies Debt Securities | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 49 68  
US Government Agencies Debt Securities | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 10 13  
US Government Agencies Debt Securities | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Developed Markets, Government Agencies Debt Securities | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 6 10  
Developed Markets, Government Agencies Debt Securities | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Developed Markets, Government Agencies Debt Securities | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 6 10  
Developed Markets, Government Agencies Debt Securities | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Other | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 235 367  
Other | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Other | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Other | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 235 367  
Defined Benefit Plan, Real Estate, Hedge Funds, And Other [Member] | Fair Value, Inputs, Level 1, 2 and 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 637 1,049  
Defined Benefit Plan, Real Estate, Hedge Funds, And Other [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 0 0  
Defined Benefit Plan, Real Estate, Hedge Funds, And Other [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets 275 562  
Defined Benefit Plan, Real Estate, Hedge Funds, And Other [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair values of pension plan assets $ 362 $ 487  
v3.22.4
Employee Benefit Plans (Change in Fair Value of Company's Level 3 Pension Assets) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning balance $ 2,975  
End balance 1,974 $ 2,975
Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning balance 954 916
Realized gains/(losses) (99) 1
Unrealized gains 3 30
Transfers in/(out), net (122) 38
Foreign currency losses (59) (31)
End balance 677 954
Level 3 | Real Estate    
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning balance 157 124
Realized gains/(losses) 1 3
Unrealized gains 6 22
Transfers in/(out), net (10) 8
Foreign currency losses (5) 0
End balance 149 157
Level 3 | Other Debt Securities    
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning balance 367 421
Realized gains/(losses) (99) (11)
Unrealized gains 0 0
Transfers in/(out), net (12) (14)
Foreign currency losses (21) (29)
End balance 235 367
Level 3 | Hedge Funds and Other Assets    
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning balance 430 371
Realized gains/(losses) (1) 9
Unrealized gains (3) 8
Transfers in/(out), net (100) 44
Foreign currency losses (33) (2)
End balance $ 293 $ 430
v3.22.4
Employee Benefit Plans (Other Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined contribution plan contribution rates as percentage of employee earnings 6.00%    
Defined Contribution Plan, Employer Matching Contribution, Percent of Match 100.00%    
Compensation expense related to the ESOP $ 56 $ 52 $ 50
Deductible dividends on PPG shares held by the ESOP 11 10 11
Recognized expense for defined contribution pension plans 92 88 64
Expense (income) of the deferred compensation plan 23 20 25
Increase (Decrease) in fair value of investments 24 18 $ 24
Obligations under the deferred compensation plan 105 139  
Investments in marketable securities by the deferred compensation plan $ 70 $ 104  
v3.22.4
Commitments and Contingent Liabilities (Asbestos Matters) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Asbestos-related claims reserve adjustment $ 0 $ (133) $ 0
Asbestos Issue      
Asbestos-related claims reserve adjustment   133  
Loss contingency accrual $ 51 54  
Asbestos Claim Products Reserve      
Asbestos-related claims reserve adjustment   $ 146  
v3.22.4
Commitments and Contingent Liabilities (Environmental Matters) (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended 48 Months Ended
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2024
Environmental Matters [Abstract]            
Reserves for environmental contingencies $ 217   $ 217 $ 282    
Reserves for environmental contingencies classified as current liabilities 50   50 97    
Pretax charges for environmental remediation costs     13 44 $ 38  
Cash outlays related to environmental remediation     78 56 60  
Historical low end of range of annual environmental remediation expense over the past 15 years 5   5      
Historical high end of range of annual environmental remediation expense over the past 15 years 35   $ 35      
Remediation Period     10 years      
Glass Segment            
Environmental Matters [Abstract]            
Income from discontinued operations, before tax 25          
Income from discontinued operations, net of tax $ 19          
Scenario, Forecast | Maximum            
Environmental Matters [Abstract]            
Cash for environmental loss contingencies, low estimate   $ 60        
Cash for environmental loss contingencies, high estimate           $ 75
Unreserved loss contingencies related to environmental matters, high estimate   200        
Scenario, Forecast | Minimum            
Environmental Matters [Abstract]            
Cash for environmental loss contingencies, low estimate   40       $ 20
Unreserved loss contingencies related to environmental matters, high estimate   $ 100        
Excavation of Soil            
Environmental Matters [Abstract]            
Percentage of the total remaining reserve 65.00%   65.00%      
Groundwater Remediation            
Environmental Matters [Abstract]            
Percentage of the total remaining reserve 15.00%   15.00%      
Jersey City Manufacturing Plant            
Environmental Matters [Abstract]            
Reserves for environmental contingencies $ 58   $ 58 89    
Pretax charges for environmental remediation costs     0 25 15  
Glass and Chemical Sites            
Environmental Matters [Abstract]            
Reserves for environmental contingencies 60   60 83    
Pretax charges for environmental remediation costs     3 12 15  
Other Environmental Contingencies            
Environmental Matters [Abstract]            
Reserves for environmental contingencies $ 99   99 110    
Pretax charges for environmental remediation costs     $ 10 $ 7 $ 8  
v3.22.4
Shareholders' Equity (Summary of Shares Outstanding) (Detail) - $ / shares
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Shareholders' Equity Note [Line Items]      
Preferred stock without par value (in dollars per share) $ 10,000,000    
Shares of common stock authorized 1,200,000,000    
Per share cash dividends paid (in dollars per share) $ 2.42 $ 2.26 $ 2.10
Common stock, par or stated value per share $ 1.667    
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (in shares) 235,907,026 236,686,265 235,680,470
Purchases (in shares) (1,269,830) (1,521,765)  
Issuances (in shares) 436,730 742,526 1,005,795
Ending balance (in shares) 235,073,926 235,907,026 236,686,265
Common Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (in shares) 581,146,136 581,146,136 581,146,136
Ending balance (in shares) 581,146,136 581,146,136 581,146,136
Treasury Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (in shares) 345,239,110 344,459,871 345,465,666
Purchases (in shares) (1,269,830) (1,521,765)  
Issuances (in shares) 436,730 742,526 1,005,795
Ending balance (in shares) 346,072,210 345,239,110 344,459,871
v3.22.4
Accumulated Other Comprehensive Loss (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance $ 6,411 $ 5,815 $ 5,403
Ending balance 6,709 6,411 5,815
Unrealized foreign currency translation adjustment, tax 73 55 (6)
Adjustment for pension and other postretirement benefits, tax 83 48 (70)
Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (1,988) (1,663) (1,627)
Current year deferrals to AOCL (301) (325) (36)
Reclassifications from AOCL to net income 35 0 0
Ending balance (2,254) (1,988) (1,663)
Pension and Other Post retirement Benefit Adjustments, net of tax      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (763) (937) (724)
Current year deferrals to AOCL 175 132 (237)
Reclassifications from AOCL to net income 31 42 24
Ending balance (557) (763) (937)
Unrealized Gain (Loss) on Derivatives, net of tax      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 1 1 1
Current year deferrals to AOCL 0 0 0
Reclassifications from AOCL to net income 0 0 0
Ending balance 1 1 1
Accumulated Other Comprehensive Loss      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (2,750) (2,599) (2,350)
Current year deferrals to AOCL (126) (193) (273)
Reclassifications from AOCL to net income 66 42 24
Ending balance $ (2,810) $ (2,750) $ (2,599)
v3.22.4
Other (Income)/Charges, Net (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Other Income and Expenses [Abstract]      
Gain on sale of assets $ (10) $ (47) $ (5)
Royalty income (8) (8) (7)
Share of net earnings of equity affiliates (See Note 5) (25) (15) (8)
Income from legal settlements 0 (22) 0
Other income, net (17) (51)  
Other expense, net     56
Total (income)/charges, net $ (60) (143) $ 36
Gain on sale of production facility   $ 34  
v3.22.4
Stock-Based Compensation (Activity) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]      
Stock-based compensation expense $ 35 $ 57 $ 44
Total income tax benefit recognized related to the stock-based compensation $ 8 $ 12 $ 10
v3.22.4
Stock-Based Compensation (Additional Information) (Detail) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Maximum term of the outstanding stock options for the PPG Omnibus Plan and the PPG Stock Plan for certain employees 10 years    
Weighted average fair value of options granted (in dollars per share) $ 36.52 $ 29.27 $ 21.93
Share-based compensation arrangement by share-based payment award, plan modification, description and terms The options are generally exercisable 36 months after being granted and have a maximum term of 10 years.    
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 36 months    
Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total unrecognized compensation cost that have not yet vested $ 7    
Cost not yet recognized, period for recognition 1 year 4 months 24 days    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 3 years    
Total unrecognized compensation cost that have not yet vested $ 20    
Cost not yet recognized, period for recognition 1 year 6 months    
Restricted Stock Units (RSUs) | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is paid based on performance 200.00%    
Restricted Stock Units (RSUs) | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is paid based on performance 0.00%    
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, 2020-2022 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is assumed to vest for the purposes of expense recognition 100.00%    
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, 2021-2023 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is assumed to vest for the purposes of expense recognition 100.00%    
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, 2022-2024 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is assumed to vest for the purposes of expense recognition 100.00%    
Contingent Share Grants      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 3 years    
Total unrecognized compensation cost that have not yet vested $ 2    
Cost not yet recognized, period for recognition 2 years    
Earned payout if the target performance is achieved 100.00%    
Payout, percentage 0.00%    
Contingent Share Grants | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is paid based on performance 200.00%    
Contingent Share Grants | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of the target award that is paid based on performance 0.00%    
v3.22.4
Stock-Based Compensation (Weighted Average Assumptions Used in Calculating Fair Value of Stock Option) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]      
Weighted average exercise price $ 151.87 $ 136.60 $ 119.52
Risk-free interest rate 2.00% 1.00% 1.60%
Expected life of option in years 6 years 6 months 6 years 6 months 6 years 6 months
Expected dividend yield 1.60% 1.60% 1.50%
Expected volatility 25.70% 25.30% 20.00%
v3.22.4
Stock-Based Compensation (Stock Options Outstanding, Exercisable and Activity) (Detail) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Number of Shares    
Beginning Balance 3,340,402  
Granted 487,277  
Exercised (158,837)  
Forfeited/Expired (151,391)  
Ending Balance 3,517,451 3,340,402
Vested or expected to vest, at end of period 3,444,650  
Exercisable, at end of period 2,039,716  
Weighted Average Exercise Price    
Beginning Balance (in dollars per share) $ 110.98  
Granted (in dollars per share) 151.87  
Exercised (in dollars per share) 77.24  
Forfeited/Expired (in dollars per share) 134.34  
Ending Balance (in dollars per share) 117.16 $ 110.98
Vested or expected to vest, at end of period (in dollars per share) 116.57  
Exercisable, at end of period (in dollars per share) $ 104.58  
Weighted Average Remaining Contractual Life (in years)    
Outstanding 5 years 8 months 12 days 6 years 1 month 6 days
Vested or expected to vest, at end of period 5 years 7 months 6 days  
Exercisable, at end of period 4 years  
Intrinsic Value (in millions)    
Outstanding $ 47  
Vested or expected to vest, at end of period 47  
Exercisable, at end of period $ 43  
v3.22.4
Stock-Based Compensation (Stock Option Activity) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]      
Total intrinsic value of stock options exercised $ 12 $ 32 $ 31
Cash received from stock option exercises 12 47 54
Income tax benefit from the exercise of stock options 3 8 7
Total fair value of stock options vested $ 16 $ 11 $ 11
v3.22.4
Stock-Based Compensation (RSU Activity) (Details)
 12 Months Ended
Dec. 31, 2022
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]  
Beginning Balance | shares 622,055
Granted | shares 232,050
Vested | shares (199,642)
Forfeited | shares (65,075)
Ending Balance | shares 589,388
Vested or expected vest, at end of period | shares 563,900
Weighted Average Grant Date Fair Value  
Beginning Balance (in dollars per share) | $ / shares $ 125.92
Granted (in dollars per share) | $ / shares 147.77
Released from restrictions (in dollars per share) | $ / shares 147.36
Forfeited (in dollars per share) | $ / shares 122.60
Ending Balance (in dollars per share) | $ / shares 136.99
Vested or expected to vest, at end of period (in dollars per share) | $ / shares $ 136.67
v3.22.4
Revenue Recognition - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]        
Bad debt expense $ 43 $ 52 $ 19  
Allowance for doubtful accounts   31 $ 31 $ 44
Russia        
Disaggregation of Revenue [Line Items]        
Allowance for doubtful accounts   $ 11    
Service | Revenue from Contract with Customer | Product Concentration Risk        
Disaggregation of Revenue [Line Items]        
Service revenue, percentage of total revenue   5.00% 5.00% 5.00%
v3.22.4
Revenue Recognition - Schedule Of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]      
Net sales $ 17,652 $ 16,802 $ 13,834
United States and Canada      
Disaggregation of Revenue [Line Items]      
Net sales 7,384 6,676 5,668
EMEA      
Disaggregation of Revenue [Line Items]      
Net sales 5,458 5,436 4,328
Asia Pacific      
Disaggregation of Revenue [Line Items]      
Net sales 2,823 2,977 2,431
Latin America      
Disaggregation of Revenue [Line Items]      
Net sales $ 1,987 $ 1,713 $ 1,407
Revenue from Contract with Customer | Geographic Concentration Risk | United States      
Disaggregation of Revenue [Line Items]      
Service revenue, percentage of total revenue 38.00% 36.00% 37.00%
Performance Coatings Segment      
Disaggregation of Revenue [Line Items]      
Net sales $ 10,694 $ 10,333 $ 8,495
Performance Coatings Segment | United States and Canada      
Disaggregation of Revenue [Line Items]      
Net sales 4,718 4,366 3,673
Performance Coatings Segment | EMEA      
Disaggregation of Revenue [Line Items]      
Net sales 3,550 3,582 2,861
Performance Coatings Segment | Asia Pacific      
Disaggregation of Revenue [Line Items]      
Net sales 1,118 1,254 1,015
Performance Coatings Segment | Latin America      
Disaggregation of Revenue [Line Items]      
Net sales 1,308 1,131 946
Industrial Coatings Segment      
Disaggregation of Revenue [Line Items]      
Net sales 6,958 6,469 5,339
Industrial Coatings Segment | United States and Canada      
Disaggregation of Revenue [Line Items]      
Net sales 2,666 2,310 1,995
Industrial Coatings Segment | EMEA      
Disaggregation of Revenue [Line Items]      
Net sales 1,908 1,854 1,467
Industrial Coatings Segment | Asia Pacific      
Disaggregation of Revenue [Line Items]      
Net sales 1,705 1,723 1,416
Industrial Coatings Segment | Latin America      
Disaggregation of Revenue [Line Items]      
Net sales $ 679 $ 582 $ 461
v3.22.4
Revenue Recognition - Summary of Allowance for Doubtful Accounts (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 31 $ 31 $ 44
Bad debt expense $ 43 52 19
Recoveries of previously reserved trade receivables   (55) (14)
Other   (3) (18)
Ending balance   $ 31 $ 31
v3.22.4
Reportable Business Segment Information (Reportable Segment Information) (Detail)
 12 Months Ended
Dec. 31, 2022
Segment
Segment Reporting [Abstract]  
Number of PPG operating segments 10
Number of PPG reportable business segments, based on economic similarities, the nature of their products, production processes, end-use markets and methods of distribution 2
v3.22.4
Reportable Business Segment Information (Reportable Segment Tables) (Detail) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting [Abstract]        
Gain (Loss) on Disposition of Property Plant Equipment     $ 34  
Segment Reporting, Revenue Reconciling Item [Line Items]        
Total Net sales   $ 17,652 16,802 $ 13,834
Total Segment income   2,042 2,171 2,109
Corporate unallocated   (218) (194) (233)
Interest expense, net of interest income   (113) (95) (115)
Impairment and other related charges, net $ (89) (245) (21) (93)
Business restructuring-related costs, net   (75) (27) (224)
Transaction-related costs, net   (10) (86) (9)
Pension settlement charge   0 (50) 0
Environmental remediation charges, net   0 (35) (26)
Expense incurred due to natural disasters   0 (17) (17)
Change in allowance for doubtful accounts related to COVID-19   0 14 (30)
Income from legal settlements   0 22 0
Asbestos-related claims reserve adjustment   0 133 0
Total Income before income taxes   1,381 1,815 1,362
Depreciation and amortization   554 561 509
Share of net earnings of equity affiliates   25 15 8
Segment assets   20,744 21,351 19,556
Investment in equity affiliates   134 126 120
Expenditures for property (including business acquisitions)   632 2,508 1,473
Corporate, Non-Segment        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Depreciation and amortization   51 41 58
Share of net earnings of equity affiliates   18 10 5
Segment assets   1,854 2,149 2,965
Investment in equity affiliates   77 78 74
Expenditures for property (including business acquisitions)   65 26 14
Performance Coatings Segment        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Total Net sales   10,694 10,333 8,495
Performance Coatings Segment | Operating Segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Total Net sales   10,694 10,333 8,495
Total Segment income   1,399 1,491 1,359
Depreciation and amortization   296 308 251
Share of net earnings of equity affiliates   7 5 3
Segment assets   13,088 13,395 11,551
Investment in equity affiliates   42 33 31
Expenditures for property (including business acquisitions)   254 1,698 1,293
Industrial Coatings Segment        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Total Net sales   6,958 6,469 5,339
Industrial Coatings Segment | Operating Segments        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Total Net sales   6,958 6,469 5,339
Total Segment income   643 680 750
Depreciation and amortization   207 212 200
Segment assets   5,802 5,807 5,040
Investment in equity affiliates   15 15 15
Expenditures for property (including business acquisitions)   $ 313 $ 784 $ 166
v3.22.4
Reportable Business Segment Information (Geographic Information) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]      
Segment income $ 2,042 $ 2,171 $ 2,109
Property, plant and equipment, net 3,328 3,442 3,127
United States and Canada      
Segment Reporting, Revenue Reconciling Item [Line Items]      
Segment income 819 865 855
Property, plant and equipment, net 1,394 1,377 1,351
EMEA      
Segment Reporting, Revenue Reconciling Item [Line Items]      
Segment income 505 612 572
Property, plant and equipment, net 943 1,069 857
Asia Pacific      
Segment Reporting, Revenue Reconciling Item [Line Items]      
Segment income 332 354 382
Property, plant and equipment, net 685 702 623
Latin America      
Segment Reporting, Revenue Reconciling Item [Line Items]      
Segment income 386 340 300
Property, plant and equipment, net $ 306 $ 294 $ 296
v3.22.4
Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]      
Schedule II - Valuation and Qualifying Accounts
Schedule II – Valuation and Qualifying Accounts
Allowance for Doubtful Accounts for the Years Ended December 31, 2022, 2021, and 2020
($ in millions)Balance at Beginning of YearCharged to Costs and Expenses(1)Deductions(1, 2)Balance at End of Year
2022$31 $52 ($52)$31 
2021$44 $5 ($18)$31 
2020$22 $44 ($22)$44 
(1)In the first quarter 2022, PPG recorded a bad debt reserve of $43 million associated with the adverse economic impacts of the Russian invasion of Ukraine. Subsequently, the Company released a portion of this previously established bad debt reserve due to the collection of certain trade receivables. In 2020, PPG recorded an allowance for doubtful accounts of $30 million related to the potential financial impacts of COVID-19. In 2021, PPG released a portion of the previously established reserve due to improvement in economic conditions in certain countries and a slower pattern of bankruptcies than expected.
(2)Notes and accounts receivable written off as uncollectible, net of recoveries, amounts attributable to divestitures and changes attributable to foreign currency translation.
    
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Year $ 172    
Balance at End of Year 182 $ 172  
Accounts Receivable, Credit Loss Expense (Reversal), CARES Act 0 (14) $ 30
SEC Schedule, 12-09, Allowance, Credit Loss [Member]      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Year 31 44 22
Charged to Costs and Expenses 52 5 44
Deductions (52) (18) (22)
Balance at End of Year $ 31 $ 31 $ 44