PPG INDUSTRIES INC, 10-Q filed on 10/19/2023
Quarterly Report
v3.23.3
Cover
 9 Months Ended
Sep. 30, 2023
shares
Entity Information [Line Items]  
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Sep. 30, 2023
Document Transition Report false
Entity File Number 1-1687
Entity Registrant Name PPG INDUSTRIES INC
Entity Tax Identification Number 25-0730780
Entity Incorporation, State or Country Code PA
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 Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 235,800,000
Amendment Flag false
Document Fiscal Year Focus 2023
Document Fiscal Period Focus Q3
Entity Central Index Key 0000079879
Current Fiscal Year End Date --12-31
Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, par value $1.66 2/3
Trading Symbol PPG
Security Exchange Name NYSE
0.875% Notes Due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 0.875% Notes due 2025
Trading Symbol PPG 25
Security Exchange Name NYSE
1.875% Notes Due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 1.875% Notes due 2025
Trading Symbol PPG 25A
Security Exchange Name NYSE
1.400% Notes Due 2027  
Entity Information [Line Items]  
Title of 12(b) Security 1.400% Notes due 2027
Trading Symbol PPG 27
Security Exchange Name NYSE
2.750% Notes Due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 2.750% Notes due 2029
Trading Symbol PPG 29A
Security Exchange Name NYSE
v3.23.3
Condensed Consolidated Statement of Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 4,644 $ 4,468 $ 13,896 $ 13,467
Cost of sales, exclusive of depreciation and amortization 2,752 2,821 8,214 8,473
Selling, general and administrative 1,047 931 3,108 2,887
Depreciation 102 95 287 296
Amortization 40 40 121 125
Research and development, net 108 110 322 340
Interest expense 64 46 190 114
Interest income (39) (14) (96) (34)
Impairment and other related charges, net 0 0 0 230
Pension settlement charge 0 0 190 0
Other charges/(income), net 13 21 4 (26)
Income before income taxes 557 418 1,556 1,062
Income tax expense 121 79 350 252
Income from continuing operations 436 339 1,206 810
Loss from discontinued operations, net of tax 0 0 0 (2)
Net income attributable to the controlling and noncontrolling interests 436 339 1,206 808
Net income attributable to noncontrolling interests 10 10 26 20
Net income (attributable to PPG) 426 329 1,180 788
Income from continuing operations, net of tax 426 329 1,180 790
Loss from discontinued operations, net of tax $ 0 $ 0 $ 0 $ (2)
Income from continuing operations (in dollars per share) $ 1.80 $ 1.40 $ 5.00 $ 3.34
Loss from discontinued operations (in dollars per share) 0 0 0 (0.01)
Earnings per common share (attributable to PPG) (in dollars per share) 1.80 1.40 5.00 3.33
Income from continuing operations, per diluted share (in dollars per share) 1.79 1.39 4.97 3.33
Loss from discontinued operations, per diluted share (in dollars per share) 0 0 0 (0.01)
Earnings per common share (attributable to PPG) - assuming dilution (in dollars per share) $ 1.79 $ 1.39 $ 4.97 $ 3.32
v3.23.3
Condensed Consolidated Statement of Comprehensive Income/(Loss) (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income attributable to controlling and noncontrolling interests $ 436 $ 339 $ 1,206 $ 808
Other comprehensive (loss)/income, net of tax:        
Defined benefit pension and other postretirement benefits (1) 2 138 11
Unrealized foreign currency translation adjustments (174) (353) 199 (543)
Other comprehensive (loss)/income, net of tax (175) (351) 337 (532)
Total comprehensive income/(loss) 261 (12) 1,543 276
Less: amounts attributable to noncontrolling interests:        
Net income (10) (10) (26) (20)
Unrealized foreign currency translation adjustments 2 7 1 16
Comprehensive income/(loss) attributable to PPG $ 253 $ (15) $ 1,518 $ 272
v3.23.3
Condensed Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,218 $ 1,099
Short-term investments 64 55
Receivables, net 3,612 3,303
Inventories 2,217 2,272
Other current assets 441 444
Total current assets 7,552 7,173
Property, plant and equipment (net of accumulated depreciation of $4,815 and $4,649) 3,406 3,328
Goodwill 6,181 6,078
Identifiable intangible assets, net 2,416 2,414
Deferred income taxes 229 95
Investments 264 244
Operating lease right-of-use assets 825 829
Other assets 628 583
Total 21,501 20,744
Current liabilities:    
Accounts payable and accrued liabilities 4,210 4,087
Restructuring reserves 95 138
Short-term debt and current portion of long-term debt 606 313
Current portion of operating lease liabilities 189 183
Total current liabilities 5,100 4,721
Long-term debt 5,596 6,503
Operating lease liabilities 622 636
Accrued pensions 564 566
Other postretirement benefits 466 476
Deferred income taxes 566 501
Other liabilities 652 632
Total liabilities 13,566 14,035
Shareholders’ equity:    
Common stock 969 969
Additional paid-in capital 1,193 1,130
Retained earnings 21,563 20,828
Treasury stock, at cost (13,502) (13,525)
Accumulated other comprehensive loss (2,472) (2,810)
Total PPG shareholders’ equity 7,751 6,592
Noncontrolling interests 184 117
Total shareholders’ equity 7,935 6,709
Total $ 21,501 $ 20,744
v3.23.3
Condensed Consolidated Balance Sheet (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Property, accumulated depreciation $ 4,815 $ 4,649
v3.23.3
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) Statement - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Loss
Total PPG
Non-controlling Interests
Beginning 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 23     18     18 5
Other comprehensive loss, net of tax 33         36 36 (3)
Cash dividends (139)     (139)     (139)  
Issuance of treasury stock 29   24   5   29  
Stock-based compensation activity (12)   (12)       (12)  
Dividends paid on subsidiary common stock to noncontrolling interests (1)             (1)
Reductions in noncontrolling interests (11)             (11)
Ending balance at Mar. 31, 2022 6,333 969 1,093 20,251 (13,381) (2,714) 6,218 115
Beginning 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 808              
Other comprehensive loss, net of tax (532)              
Ending balance at Sep. 30, 2022 6,144 969 1,122 20,736 (13,527) (3,266) 6,034 110
Beginning balance at Mar. 31, 2022 6,333 969 1,093 20,251 (13,381) (2,714) 6,218 115
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 446     441     441 5
Other comprehensive loss, net of tax (214)         (208) (208) (6)
Cash dividends (140)     (140)     (140)  
Treasury Stock, Value, Acquired, Cost Method 150       150   150  
Issuance of treasury stock 9   6   3   9  
Stock-based compensation activity 9   9       9  
Dividends paid on subsidiary common stock to noncontrolling interests (6)             (6)
Stockholders' Equity, Other 4   3       3 1
Ending balance at Jun. 30, 2022 6,291 969 1,111 20,552 (13,528) (2,922) 6,182 109
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 339     329     329 10
Other comprehensive loss, net of tax (351)         (344) (344) (7)
Cash dividends (145)     (145)     (145)  
Issuance of treasury stock 3   2   1   3  
Stock-based compensation activity 9   9       9  
Dividends paid on subsidiary common stock to noncontrolling interests (1)             (1)
Stockholders' Equity, Other (1)             (1)
Ending balance at Sep. 30, 2022 6,144 969 1,122 20,736 (13,527) (3,266) 6,034 110
Beginning balance at Dec. 31, 2022 6,709 969 1,130 20,828 (13,525) (2,810) 6,592 117
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 273     264     264 9
Other comprehensive loss, net of tax 403         402 402 1
Cash dividends (146)     (146)     (146)  
Issuance of treasury stock 31   21   10   31  
Stock-based compensation activity (1)   (1)       (1)  
Dividends paid on subsidiary common stock to noncontrolling interests (1)             1
Reductions in noncontrolling interests (15)             (15)
Ending balance at Mar. 31, 2023 7,253 969 1,150 20,946 (13,515) (2,408) 7,142 111
Beginning balance at Dec. 31, 2022 6,709 969 1,130 20,828 (13,525) (2,810) 6,592 117
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 1,206              
Other comprehensive loss, net of tax 337              
Ending balance at Sep. 30, 2023 7,935 969 1,193 21,563 (13,502) (2,472) 7,751 184
Beginning balance at Mar. 31, 2023 7,253 969 1,150 20,946 (13,515) (2,408) 7,142 111
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 497     490     490 7
Other comprehensive loss, net of tax 109         109 109  
Cash dividends (146)     (146)     (146)  
Issuance of treasury stock 10   7   3   10  
Stock-based compensation activity 9   9       9  
Dividends paid on subsidiary common stock to noncontrolling interests (10)             (10)
Acquisition of noncontrolling interests 70             70
Ending balance at Jun. 30, 2023 7,792 969 1,166 21,290 (13,512) (2,299) 7,614 178
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the controlling and noncontrolling interests 436     426     426 10
Other comprehensive loss, net of tax (175)         (173) (173) (2)
Cash dividends (153)     (153)     (153)  
Issuance of treasury stock 28   18   10   28  
Stock-based compensation activity 9   9       9  
Dividends paid on subsidiary common stock to noncontrolling interests (2)             (2)
Ending balance at Sep. 30, 2023 $ 7,935 $ 969 $ 1,193 $ 21,563 $ (13,502) $ (2,472) $ 7,751 $ 184
v3.23.3
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Income from continuing operations $ 1,206 $ 810
Adjustments to reconcile net income to cash from operations:    
Depreciation and amortization 408 421
Pension settlement charge 190 0
Impairment and other related charges, net 0 230
Stock-based compensation expense 42 27
Deferred income taxes (131) (129)
Cash used for restructuring actions (44) (63)
Change in certain asset and liability accounts (net of acquisitions):    
Receivables (358) (644)
Inventories 70 (458)
Other current assets (70) (68)
Accounts payable and accrued liabilities 72 340
Taxes and interest payable 92 67
Noncurrent assets and liabilities, net (133) (41)
Other 169 (116)
Cash from operating activities 1,513 376
Investing activities:    
Capital expenditures (381) (368)
Business acquisitions, net of cash balances acquired (108) (43)
Proceeds from asset sales 25 116
Proceeds from the settlement of cross currency swap contracts 60 27
Other 5 22
Cash used for investing activities (399) (246)
Financing activities:    
Net payments on commercial paper and short-term debt 0 (439)
Net change in borrowing with maturities of three months or less (16) 8
Proceeds from Term Loan 550 0
Repayment of Term Loan (800) (100)
Proceeds from the issuance of debt, net of discounts and fees 0 1,116
Repayment of long-term debt 300 0
Purchase of treasury stock 0 (190)
Dividends paid on PPG common stock (445) (424)
Other 6 (27)
Cash used for financing activities (1,005) (56)
Effect of currency exchange rate changes on cash and cash equivalents 10 (50)
Net increase in cash and cash equivalents 119 24
Cash and cash equivalents, beginning of period 1,099 1,005
Cash and cash equivalents, end of period 1,218 1,029
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]    
Interest paid, net of amount capitalized 181 119
Taxes paid, net of refunds 378 343
Capital expenditures accrued within Accounts payable and accrued liabilities at period-end $ 75 $ 76
v3.23.3
Basis of Presentation
 9 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation
The condensed consolidated financial statements included herein are unaudited and have been prepared following the requirements of the Securities and Exchange Commission (the "SEC") and accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim reporting. Under these rules, certain footnotes and other financial information that are normally required for annual financial statements can be condensed or omitted. These statements include all adjustments, consisting only of normal, recurring adjustments, necessary for a fair presentation of the financial position and shareholders' equity of PPG as of September 30, 2023, the results of its operations for the three and nine months ended September 30, 2023 and 2022 and cash flows for the nine months ended September 30, 2023 and 2022. All intercompany balances and transactions have been eliminated. Material subsequent events are evaluated through the report issuance date and disclosed where applicable. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in PPG's 2022 Annual Report on Form 10-K (the "2022 Form 10-K").
Net sales, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results of operations for the three and nine months ended September 30, 2023 and the trends in these unaudited condensed consolidated financial statements may not necessarily be indicative of the results to be expected for the full year.
Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on our previously reported Net income, total assets, cash flows or shareholders’ equity.
v3.23.3
New Accounting Standards
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
New Accounting Standards New Accounting Standards
Accounting Standards Adopted in 2023
Effective January 1, 2023, PPG adopted Accounting Standards Update ("ASU") No. 2022-04, “Liabilities - Supplier Finance Programs." This ASU is intended to enhance the transparency surrounding the use of supplier finance programs. The guidance does not affect the recognition, measurement, or financial statement presentation of obligations covered by supplier finance programs.
PPG has certain voluntary supply chain finance programs with financial intermediaries which provide participating suppliers the option to be paid by the intermediary earlier than the original invoice due date. PPG’s responsibility is limited to making payments on the terms originally negotiated with the suppliers, regardless of whether the intermediary pays the supplier in advance of the original due date. The range of payment terms PPG negotiates with suppliers are consistent, regardless of whether a supplier participates in a supply chain finance program. The total amount due to financial intermediaries to settle supplier invoices under supply chain finance programs was $208 million and $390 million as of September 30, 2023 and December 31, 2022, respectively. These amounts are included within Accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheet.
Recently Issued Accounting Standards
There were no accounting pronouncements promulgated prior to September 30, 2023 that are not effective until a future date which are expected to have a material impact on PPG's consolidated financial position, results of operations or cash flows.
v3.23.3
Inventories
 9 Months Ended
Sep. 30, 2023
Inventory Disclosure [Abstract]  
Inventories Inventories
($ in millions)September 30, 2023December 31, 2022
Finished products$1,201 $1,209 
Work in process256 238 
Raw materials710 784 
Supplies50 41 
Total Inventories$2,217 $2,272 
Most U.S. inventories are valued using the last-in, first-out method. These inventories represented approximately 16% and 21% of total inventories at September 30, 2023 and December 31, 2022, respectively. If the first-in, first-out ("FIFO") method of inventory valuation had been used, inventories would have been $262 million and $272 million higher as of September 30, 2023 and December 31, 2022, respectively.
v3.23.3
Goodwill and Other Identifiable Intangible Assets
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Identifiable Intangible Assets Goodwill and Other Identifiable Intangible Assets
The Company tests indefinite-lived intangible assets and goodwill for impairment by performing either a qualitative evaluation or a quantitative test at least annually, or more frequently if an indication of impairment arises. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit or asset is less than its carrying amount.
The Company did not identify an indication of goodwill impairment for any of its reporting units or an indication of impairment of any of its indefinite-lived intangible assets during the nine months ended September 30, 2023.
The change in the carrying amount of goodwill attributable to each reportable segment for the nine months ended September 30, 2023 was as follows:
($ in millions)Performance
Coatings		Industrial
Coatings		Total
January 1, 2023$4,881 $1,197 $6,078 
Acquisitions, including purchase accounting adjustments125 11 136 
Foreign currency impact(16)(17)(33)
September 30, 2023$4,990 $1,191 $6,181 
A summary of the carrying value of the Company's identifiable intangible assets is as follows:
 September 30, 2023December 31, 2022
($ in millions)Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Indefinite-Lived Identifiable Intangible Assets
Trademarks$1,405 $— $1,405 $1,325 $— $1,325 
Definite-Lived Identifiable Intangible Assets
Acquired technology$839 ($664)$175 $827 ($636)$191 
Customer-related1,882 (1,190)692 1,855 (1,112)743 
Trade names313 (171)142 311 (158)153 
Other49 (47)2 50 (48)2 
Total Definite-Lived Intangible Assets$3,083 ($2,072)$1,011 $3,043 ($1,954)$1,089 
Total Identifiable Intangible Assets$4,488 ($2,072)$2,416 $4,368 ($1,954)$2,414 
The Company’s identifiable intangible assets with definite lives are being amortized over their estimated useful lives.
As of September 30, 2023, estimated future amortization expense of identifiable intangible assets is as follows:
($ in millions)Future Amortization Expense
Remaining three months of 2023$30 
2024$132 
2025$120 
2026$98 
2027$90 
2028$78 
Thereafter$463 
v3.23.3
Business Restructuring
 9 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Business Restructuring Business Restructuring The Company records restructuring liabilities that represent charges incurred in connection with consolidations of certain operations, including both operations from acquisitions and headcount reduction programs. These charges consist primarily of severance costs and certain other cash costs. As a result of these programs, the Company also incurs incremental non-cash accelerated depreciation expense for certain assets due to their reduced expected useful life. These charges are not allocated to the Company’s reportable business segments. Refer to Note 16, "Reportable Business Segment Information" for additional information.
The following table summarizes restructuring reserve activity for the nine months ended September 30, 2023 and 2022:
Total Reserve
($ in millions)20232022
January 1$169 $231 
Approved restructuring actions12 84 
Release of prior reserves and other adjustments(a)
(16)(48)
Cash payments(44)(63)
Foreign currency impact(2)(23)
September 30$119 $181 
(a)Certain releases were recorded to reflect the current estimate of costs to complete planned business restructuring actions.
The majority of the approved business restructuring actions and associated cash outlays are expected to be completed in 2023 and 2024.
v3.23.3
Borrowings
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Borrowings Borrowings
Credit Agreements
In April 2023, PPG entered into a €500 million term loan credit agreement (the "Term Loan"). The Term Loan provides the Company with the ability to increase the size of the loan by an amount not to exceed €250 million. The Term Loan contains 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. The Term Loan terminates and all amounts outstanding are payable in April 2026. In April 2023, PPG borrowed €500 million under the Term Loan. The Term Loan is denominated in euro and has been designated as a hedge of the net investment in the Company’s European operations. For more information, refer to Note 12 “Financial Instruments, Hedging Activities and Fair Value Measurements.”
In February 2021, PPG entered into a $2.0 billion term loan credit agreement (the "Term Loan Credit Agreement") to finance the Company’s acquisition of Tikkurila, and to pay fees, costs and expenses related thereto. 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. In addition to the amounts borrowed to finance the acquisition of Tikkurila, the Term Loan Credit Agreement allowed the Company to make up to eleven additional borrowings prior to December 31, 2021, to be used for working capital and general corporate purposes. The Term Loan Credit Agreement contains 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. 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 March 2023, PPG amended the Term Loan Credit Agreement to replace the LIBOR-based reference interest rate option with a reference interest rate option based upon Term Secured Overnight Financing Rate ("SOFR"). The other terms of the Term Loan Credit Agreement remain unchanged. In June 2021, PPG borrowed $700 million under the 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 and 2023, PPG repaid $300 million and $800 million, respectively, of the Term Loan Credit Agreement using cash on hand. Borrowings of $300 million and $1.1 billion were outstanding under the Term Loan Credit Agreement as of September 30, 2023 and December 31, 2022, respectively.
In March 2023, PPG amended its five-year credit agreement (the “Credit Agreement”) dated as of August 30, 2019. The amendments to the Credit Agreement replace the LIBOR-based reference interest rate option with a reference interest rate option based upon Term SOFR. The other terms of the Credit Agreement remain unchanged. In July 2023, PPG amended and restated the Credit Agreement, extending the term through July 27, 2028. The amended and restated Credit Agreement provides for a $2.3 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 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. There were no amounts outstanding under the Credit Agreement as of September 30, 2023 and December 31, 2022.
The Term Loan, Term Loan Credit Agreement and Credit Agreement require the Company to maintain a ratio of Total Indebtedness to Total Capitalization, as defined in the Term Loan, Term Loan Credit Agreement and 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 September 30, 2023, Total Indebtedness to Total Capitalization as defined under the Term Loan, Term Loan Credit Agreement and Credit Agreement was 43%.
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 September 30, 2023 and December 31, 2022.
As of September 30, 2023, PPG was in full compliance with the restrictive covenants under its various credit agreements, loan agreements and indentures.
Other Debt Issued and Repaid
In March 2023, PPG's $300 million 3.2% notes matured, and the Company repaid this obligation using cash on hand.
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, were $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 12 “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 1.875% Notes discussed above. 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 12 "Financial Instruments, Hedging Activities and Fair Value Measurements" for additional information.
Letters of Credit and Surety Bonds
The Company had outstanding letters of credit and surety bonds of $235 million as of September 30, 2023.
v3.23.3
Impairment and Other Related Charges
 9 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Impairment and Other Related Charges Impairment and Other Related Charges, Net
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 (income)/charges, net in the condensed 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.
In the second quarter 2022, 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 $60 million within Impairment and other related (income)/charges, net.
The Company divested its legacy industrial Russian operations during the third quarter 2023 and continues to explore various options to complete its exit from Russia, including a possible sale of its remaining Russia business or controlled withdrawal from the Russia market.
During the three and nine months ended September 30, 2023 and the twelve months ended December 31, 2022, net sales in Russia represented approximately 1% of PPG net sales.
v3.23.3
Earnings Per Common Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
The effect of dilutive securities on the weighted average common shares outstanding included in the calculation of earnings per diluted common share for the three and nine months ended September 30, 2023 and 2022 was as follows:
 Three Months Ended
September 30		Nine Months Ended
September 30
(number of shares in millions)2023202220232022
Weighted average common shares outstanding236.2 235.5 236.0 236.2 
Effect of dilutive securities:
Stock options0.6 0.4 0.5 0.6 
Other stock compensation plans0.7 0.7 0.7 0.7 
Potentially dilutive common shares1.3 1.1 1.2 1.3 
Adjusted weighted average common shares outstanding237.5 236.6 237.2 237.5 
Dividends per common share$0.65 $0.62 $1.89 $1.80 
Antidilutive securities(a):
Stock options0.4 0.9 0.9 0.9 
(a)Excluded from the computation of earnings per diluted share due to their antidilutive effect.
v3.23.3
Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Nine Months Ended
September 30
20232022
Effective tax rate on pretax income22.5 %23.7 %
The effective tax rate of 23.7% for the nine months ended September 30, 2022 reflected a tax benefit of $27 million on the $230 million net charges associated with PPG's operations in Russia.
Income tax expense for the nine months ended September 30, 2023 and 2022 is based on an estimated annual effective rate, which requires management to make its best estimate of annual pretax income or loss. During the year, PPG management regularly updates forecasted annual pretax results for the various countries in which PPG operates based on changes in factors such as prices, shipments, product mix, raw material inflation and manufacturing operations. To the extent that actual 2023 pretax results for U.S. and foreign income or loss vary from estimates, the actual Income tax expense recognized in 2023 could be different from the forecasted amount used to estimate Income tax expense for the nine months ended September 30, 2023.
v3.23.3
Pensions and Other Postretirement Benefits
 9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits Pensions and Other Postretirement Benefits
In March 2023, the Company purchased group annuity contracts that transferred to third-party insurance companies pension benefit obligations for certain of the Company’s retirees in the U.S. who were receiving their monthly retirement benefit payments from the U.S. pension plan. 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 U.S. plans. By transferring the obligations and assets to the insurance companies, the Company reduced its overall pension projected benefit obligation by $309 million and recognized a non-cash Pension settlement charge of $190 million.
The service cost component of net periodic pension benefit cost/(income) and other postretirement benefit cost is included in Cost of sales, exclusive of depreciation and amortization, Selling, general and administrative, and Research and development, net in the accompanying condensed consolidated statement of income. Except for the Pension settlement charge in the quarter ended March 31, 2023, all other components of net periodic benefit cost are recorded in Other charges/(income), net in the accompanying condensed consolidated statement of income.
Net periodic pension benefit cost/(income) and other postretirement benefit cost for the three and nine months ended September 30, 2023 and 2022 were as follows:
 Pension
 Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Service cost$2 $3 $6 $7 
Interest cost28 18 83 55 
Expected return on plan assets(28)(35)(83)(106)
Amortization of actuarial losses6 8 16 25 
Settlements— — 191 — 
Net periodic benefit cost/(income)$8 ($6)$213 ($19)
 Other Postretirement Benefits
 Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Service cost$1 $2 $3 $6 
Interest cost7 4 20 12 
Amortization of actuarial losses/(gains)— 3 (1)9 
Amortization of prior service credit(2)(3)(5)(8)
Net periodic benefit cost$6 $6 $17 $19 
Net periodic pension cost was higher for both the three and nine months ended September 30, 2023 compared to 2022, primarily due the Pension settlement charge recognized in the first quarter 2023 and higher interest cost driven by an increase in discount rates. In addition, declines in the market value of pension investments during 2022 resulted in a lower asset base to generate returns on plan assets in 2023.
PPG expects 2023 full year net periodic pension cost of approximately $220 million, which includes the impact of the $190 million Pension settlement charge recognized during the first quarter 2023. PPG expects 2023 full year net periodic other postretirement benefit cost of approximately $25 million.
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Non-U.S. defined benefit pension mandatory contributions$1 $— $3 $2 
PPG does not expect to be required to make significant mandatory contributions to its defined benefit pension plans during the remaining three months of 2023. In addition to any mandatory contributions, PPG may elect to make voluntary contributions to its defined benefit pension plans in 2023 and beyond.
v3.23.3
Accumulated Other Comprehensive Loss (AOCL)
 9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (AOCL)
($ in millions)
Foreign Currency Translation Adjustments (a)
Pension and Other Postretirement Benefit Adjustments, net of tax (b)
Unrealized Gain on Derivatives, net of taxAccumulated Other Comprehensive Loss
January 1, 2022($1,988)($763)$1 ($2,750)
Current year deferrals to AOCL(537)(9)— (546)
Reclassifications from AOCL to net income10 20 — 30 
September 30, 2022($2,515)($752)$1 ($3,266)
January 1, 2023($2,254)($557)$1 ($2,810)
Current year deferrals to AOCL170 (14)— 156 
Reclassifications from AOCL to net income30 152 — 182 
September 30, 2023($2,054)($419)$1 ($2,472)
(a)The tax cost related to unrealized foreign currency translation adjustments on net investment hedges was $85 million and $96 million as of September 30, 2023 and 2022, respectively.
(b)The tax (benefit)/cost related to the adjustment for pension and other postretirement benefits was $(47) million and $6 million for the nine months ended September 30, 2023 and 2022, respectively. Reclassifications from AOCL are included in the computation of net periodic benefit cost (See Note 10, "Pensions and Other Postretirement Benefits").
v3.23.3
Financial Instruments, Hedging Activities and Fair Value Measurements
 9 Months Ended
Sep. 30, 2023
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 September 30, 2023 and December 31, 2022, 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 may 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 and nine months ended September 30, 2023 and 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.
There were no derivative instruments de-designated or discontinued as hedging instruments during the three and nine months ended September 30, 2023 and 2022, and there were no gains or losses deferred in Accumulated other comprehensive loss on the condensed consolidated balance sheet that were reclassified to Income before income taxes in the condensed consolidated statement of income in the nine months ended September 30, 2023 and 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.
PPG has interest rate swaps which converted $375 million and $525 million of fixed rate debt to variable rate debt as of September 30, 2023 and December 31, 2022, respectively. These 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 condensed consolidated statement of income. The fair value of these interest rate swaps was a liability of $27 million and $20 million at September 30, 2023 and December 31, 2022, 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 September 30, 2023 and December 31, 2022.
Net Investment Hedges
PPG uses cross currency swaps and foreign currency euro-denominated debt to hedge a portion of its net investment in its European operations, as follows:
PPG had U.S. dollar to euro cross currency swap contracts with total notional amounts of $475 million and $775 million as of September 30, 2023 and December 31, 2022, respectively, 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 payments in U.S. dollars and make payments in euros to the counterparties. As of September 30, 2023 and December 31, 2022, the fair value of the U.S. dollar to euro cross currency swap contracts were net assets of $50 million and $88 million, respectively.
As of September 30, 2023 and December 31, 2022, PPG had designated €3.0 billion and €2.5 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 were $3.1 billion and $2.6 billion as of September 30, 2023 and December 31, 2022, respectively.
Other Financial Instruments
PPG uses foreign currency forward contracts to manage certain net transaction exposures that either have not been elected, or do not qualify for hedge accounting; therefore, the change in the fair value of these instruments is recorded in Other charges/(income), net in the condensed consolidated statement of income in the period of change. Underlying notional amounts related to these foreign currency forward contracts were $2.4 billion and $1.8 billion at September 30, 2023 and December 31, 2022, respectively. The fair values of these contracts was a net liability of $18 million and a net asset of $24 million as of September 30, 2023 and December 31, 2022, respectively.
Gains/Losses Deferred in Accumulated Other Comprehensive Loss
The following table summarizes the amount of gains/(losses) deferred in Other comprehensive income ("OCI") and the amount and location of gains/(losses) recognized within the condensed consolidated statement of income related to derivative and debt financial instruments for the nine months ended September 30, 2023 and 2022. All amounts are shown on a pretax basis.
September 30, 2023September 30, 2022Caption In Condensed Consolidated Statement of Income
($ in millions)Gain Deferred in OCIGain/(Loss) RecognizedGain Deferred in OCIGain Recognized
Economic
   Foreign currency forward contracts
$— $37 $— $34 Other charges/(income), net
Fair Value
   Interest rate swaps
— (7)— 7 Interest expense
Total forward contracts and interest rate swaps$— $30 $— $41 
Net Investment
Cross currency swaps$2 $10 $89 $11 Interest expense
Foreign denominated debt48 — 307 — 
Total Net Investment$50 $10 $396 $11 
Fair Value Measurements
The Company follows a fair value measurement hierarchy to measure its assets and liabilities. As of September 30, 2023 and December 31, 2022, 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" under Item 8 in the 2022 Form 10-K 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 did not have any recurring financial assets or liabilities recorded in its condensed consolidated balance sheet as of September 30, 2023 and December 31, 2022 that were measured using Level 3 inputs.
Assets and liabilities reported at fair value on a recurring basis
September 30, 2023December 31, 2022
($ in millions)Level 1Level 2Level 3Level 1Level 2Level 3
Assets:
Other current assets:
Marketable equity securities$9 $— $— $9 $— $— 
Foreign currency forward contracts (a)
$— $3 $— $— $27 $— 
Cross currency swaps (b)
$— $5 $— $— $39 $— 
Investments:
Marketable equity securities$68 $— $— $61 $— $— 
Other assets:
Cross currency swaps (b)
$— $45 $— $— $49 $— 
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts (a)
$— $21 $— $— $3 $— 
Interest rate swaps (c)
$— $— $— $— $1 $— 
Other liabilities:
Interest rate swaps (c)
$— $27 $— $— $19 $— 
(a)Derivatives not designated as hedging instruments
(b)Net investment hedges
(c)Fair value hedges
Long-Term Debt
($ in millions)
September 30, 2023 (a)
December 31, 2022 (b)
Long-term debt - carrying value$6,189 $6,796 
Long-term debt - fair value$5,736 $6,375 
(a)Excludes finance lease obligations of $9 million and short-term borrowings of $4 million as of September 30, 2023.
(b)Excludes finance lease obligations of $10 million and short-term borrowings of $10 million as of December 31, 2022.
The fair values of the debt instruments were measured using Level 2 inputs, including discounted cash flows and interest rates then currently available to the Company for instruments of the same remaining maturities
v3.23.3
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The Company’s stock-based compensation includes stock options, restricted stock units (“RSUs”) and grants of contingent shares that are earned based on achieving targeted levels of total shareholder return ("TSR"). All current grants of stock options, RSUs and contingent shares are made under the PPG Industries, Inc. Amended and Restated Omnibus Incentive Plan (“PPG Amended Omnibus Plan”), which was amended and restated effective April 21, 2016.
Stock-based compensation expense and the associated income tax benefit recognized during the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Stock-based compensation expense$8 $9 $42 $27 
Income tax benefit recognized$2 $2 $9 $6 
Grants of stock-based compensation during the nine months ended September 30, 2023 and 2022 were as follows:
Nine Months Ended
September 30
20232022
SharesFair ValueSharesFair Value
Stock options410,001 $38.55 487,277 $36.52 
Restricted stock units289,573 $125.79 223,729 $141.50 
Contingent shares (a)
52,389 $129.03 57,134 $151.87 
(a)The number of contingent shares represents the target value of the award.
Stock options are generally exercisable 36 months after being granted and have a maximum term of 10 years. Compensation expense for stock options is recorded over the vesting period based on the fair value on the date of grant. The fair value of the stock options granted during the nine months ended September 30, 2023 was calculated with the following weighted average assumptions:
Weighted average exercise price$130.08
Risk-free interest rate3.9 %
Expected life of option in years6.5
Expected dividend yield1.7 %
Expected volatility27.8 %
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.
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 vesting period. Performance-based RSUs vest based on achieving specific annual performance targets for adjusted earnings per diluted 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 adjusted 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 target is calculated annually, and the annual payout for each goal is weighted equally over the three-year period.
The Company also provides grants of contingent shares to selected key executives that may be earned based on PPG's 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 stock performance. Performance is measured by determining the percentile rank of the TSR of PPG common stock in relation to the TSR of the S&P 500 Index 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 were removed from the index because they ceased to be publicly traded. The payment of awards following the three-year award period is based on performance achieved 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 target performance is achieved. Contingent share awards earn dividend equivalents for the award period, which are 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 that are 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 TSR) remeasured in each reporting period until settlement of the awards.
v3.23.3
Commitments and Contingent Liabilities
 9 Months Ended
Sep. 30, 2023
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 of the 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 September 30, 2023, 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. The Company's asbestos-related reserves totaled $48 million and $51 million as of September 30, 2023 and December 31, 2022, respectively.
The Company believes that, based on presently available information, the total reserves of $48 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 2023 and 2022, 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 September 30, 2023 and December 31, 2022, 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 condensed consolidated balance sheet.
Environmental Reserves
($ in millions)September 30, 2023December 31, 2022
New Jersey Chrome$48 $58 
Glass and chemical57 60 
Other99 99 
Total$204 $217 
Current portion$53 $50 
Pretax charges against income for environmental remediation costs are included in Other charges/(income), net in the accompanying condensed consolidated statement of income. The pretax charges and cash outlays related to such environmental remediation for the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Environmental remediation pretax charges$3 $3 $16 $11 
Cash outlays for environmental remediation activities$12 $18 $28 $65 
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 Partial Consent Judgement (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 and groundwater, engineering, administrative and other associated costs. Based on these assessments, the reserve is adjusted accordingly. As of September 30, 2023 and December 31, 2022, PPG's reserve for remediation of all New Jersey Chrome sites was $48 million and $58 million, respectively. The major cost components of this liability are related to PPG's remedial obligations under the JCO for soil, as well as long term monitoring. These components each account for approximately 70% and 10%, respectively, of the amount accrued at September 30, 2023.
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.
v3.23.3
Revenue Recognition
 3 Months Ended
Sep. 30, 2022
Revenue Disclosure [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 three and nine months ended September 30, 2023 and 2022, service revenue constituted less than 5% of total revenue.
Net sales by segment and region for the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Performance Coatings
United States and Canada$1,287 $1,268 $3,807 $3,660 
Europe, Middle East and Africa ("EMEA")932 841 2,822 2,784 
Asia Pacific274 281 821 842 
Latin America387 315 1,099 918 
Total$2,880 $2,705 $8,549 $8,204 
Industrial Coatings
United States and Canada$654 $686 $1,969 $2,024 
EMEA461 445 1,519 1,452 
Asia Pacific459 453 1,295 1,278 
Latin America190 179 564 509 
Total$1,764 $1,763 $5,347 $5,263 
Total Net Sales
United States and Canada$1,941 $1,954 $5,776 $5,684 
EMEA1,393 1,286 4,341 4,236 
Asia Pacific733 734 2,116 2,120 
Latin America577 494 1,663 1,427 
Total PPG$4,644 $4,468 $13,896 $13,467 
Allowance for Doubtful Accounts
All trade receivables are reported on the condensed consolidated balance sheet at the outstanding principal amount adjusted for any allowance for doubtful accounts and any charge-offs. PPG provides an allowance for doubtful accounts to reduce trade receivables to their estimated net realizable value equal to the amount that is expected to be collected. This allowance is estimated based on historical collection experience, current regional economic and market conditions, the aging of accounts receivable, assessments of current creditworthiness of customers and forward-looking information. The use of forward-looking information is based on certain macroeconomic and microeconomic indicators including, but not limited to, regional business environment risk, political risk, and commercial and financing risks.
PPG reviews its allowance for doubtful accounts on a quarterly basis to ensure the estimate reflects regional risk trends as well as current and future global operating conditions.
The following table summarizes allowance for doubtful accounts activity for the nine months ended September 30, 2023 and 2022:
Trade Receivables Allowance for Doubtful Accounts
($ in millions)20232022
January 1$31 $31 
Bad debt expense10 46 
Recoveries of previously reserved trade receivables(15)(46)
Other(3)4 
September 30$23 $35 
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. During the second quarter 2022, the Company released a portion of this previously established reserve due to the collection of certain trade receivables. Refer to Note 7, "Impairment and Other Related Charges, Net" for additional information.
v3.23.3
Reportable Business Segment Information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Reportable Business Segment Information Reportable Business Segment Information
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 original equipment manufacturer ("OEM") coatings, industrial coatings, packaging coatings and 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.
Reportable business segment net sales and segment income for the three and nine months ended September 30, 2023 and 2022 were as follows: 
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Net sales:
Performance Coatings$2,880 $2,705 $8,549 $8,204 
Industrial Coatings1,764 1,763 5,347 5,263 
Total $4,644 $4,468 $13,896 $13,467 
Segment income:
Performance Coatings$452 $362 $1,384 $1,127 
Industrial Coatings246 192 736 488 
Total$698 $554 $2,120 $1,615 
Corporate(88)(59)(240)(166)
Interest expense, net of interest income(25)(32)(94)(80)
Pension settlement charge (a)
— — (190)— 
Business restructuring-related costs, net (b)
(13)(45)(27)(67)
Transaction-related costs (c)
(15)— (22)(10)
Insurance recovery of expenses incurred due to a natural disaster (d)
— — 9 — 
Impairment and other related charges, net (e)
— — — (230)
Income before income taxes$557 $418 $1,556 $1,062 
(a)In the first quarter 2023, PPG purchased group annuity contracts that transferred pension benefit obligations for certain of the Company’s retirees in the U.S. to third-party insurance companies, resulting in a non-cash pension settlement charge.
(b)Included in business restructuring-related costs, net are business restructuring charges, accelerated depreciation of certain assets and other related costs, offset by releases related to previously approved programs.
(c)Transaction-related costs include losses on the sale of certain assets, which are included in Other charges/(income), net in the condensed consolidated statement of income, including the loss recognized in the third quarter 2023 on the sale of the Company’s legacy industrial Russian operations, resulting primarily from the recognition of accumulated foreign currency translation losses upon the divestiture. Transaction-related costs also include advisory, legal, accounting, valuation, other professional or consulting fees, and certain internal costs directly incurred to effect acquisitions, which are included in Selling, general and administrative expense in the condensed consolidated statement of income, and the impact for the step up to fair value of inventory acquired in certain acquisitions, which is included in Cost of sales, exclusive of depreciation and amortization in the condensed consolidated statement of income.
(d)The Company incurred expenses due to damages at a southern U.S. factory resulting from a winter storm in 2020. In the first quarter 2023, the Company received reimbursement under its insurance policies related to the damages incurred at this factory due to this storm.
(e)In 2022, the Company recorded impairment and other related charges due to the wind down of the Company’s operations in Russia.
v3.23.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Pay vs Performance Disclosure        
Net Income (Loss) $ 426 $ 329 $ 1,180 $ 788
v3.23.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.23.3
New Accounting Standards (Policies)
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
New Accounting Standards
Accounting Standards Adopted in 2023
Effective January 1, 2023, PPG adopted Accounting Standards Update ("ASU") No. 2022-04, “Liabilities - Supplier Finance Programs." This ASU is intended to enhance the transparency surrounding the use of supplier finance programs. The guidance does not affect the recognition, measurement, or financial statement presentation of obligations covered by supplier finance programs.
PPG has certain voluntary supply chain finance programs with financial intermediaries which provide participating suppliers the option to be paid by the intermediary earlier than the original invoice due date. PPG’s responsibility is limited to making payments on the terms originally negotiated with the suppliers, regardless of whether the intermediary pays the supplier in advance of the original due date. The range of payment terms PPG negotiates with suppliers are consistent, regardless of whether a supplier participates in a supply chain finance program. The total amount due to financial intermediaries to settle supplier invoices under supply chain finance programs was $208 million and $390 million as of September 30, 2023 and December 31, 2022, respectively. These amounts are included within Accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheet.
Recently Issued Accounting Standards
There were no accounting pronouncements promulgated prior to September 30, 2023 that are not effective until a future date which are expected to have a material impact on PPG's consolidated financial position, results of operations or cash flows.
v3.23.3
Inventories (Tables)
 9 Months Ended
Sep. 30, 2023
Inventory Disclosure [Abstract]  
Inventories
($ in millions)September 30, 2023December 31, 2022
Finished products$1,201 $1,209 
Work in process256 238 
Raw materials710 784 
Supplies50 41 
Total Inventories$2,217 $2,272 
v3.23.3
Goodwill and Other Identifiable Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Amount of Goodwill Attributable to Each Reportable Segment
The change in the carrying amount of goodwill attributable to each reportable segment for the nine months ended September 30, 2023 was as follows:
($ in millions)Performance
Coatings		Industrial
Coatings		Total
January 1, 2023$4,881 $1,197 $6,078 
Acquisitions, including purchase accounting adjustments125 11 136 
Foreign currency impact(16)(17)(33)
September 30, 2023$4,990 $1,191 $6,181 
Identifiable Intangible Assets with Finite Lives
A summary of the carrying value of the Company's identifiable intangible assets is as follows:
 September 30, 2023December 31, 2022
($ in millions)Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Indefinite-Lived Identifiable Intangible Assets
Trademarks$1,405 $— $1,405 $1,325 $— $1,325 
Definite-Lived Identifiable Intangible Assets
Acquired technology$839 ($664)$175 $827 ($636)$191 
Customer-related1,882 (1,190)692 1,855 (1,112)743 
Trade names313 (171)142 311 (158)153 
Other49 (47)2 50 (48)2 
Total Definite-Lived Intangible Assets$3,083 ($2,072)$1,011 $3,043 ($1,954)$1,089 
Total Identifiable Intangible Assets$4,488 ($2,072)$2,416 $4,368 ($1,954)$2,414 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
As of September 30, 2023, estimated future amortization expense of identifiable intangible assets is as follows:
($ in millions)Future Amortization Expense
Remaining three months of 2023$30 
2024$132 
2025$120 
2026$98 
2027$90 
2028$78 
Thereafter$463 
v3.23.3
Business Restructuring (Tables)
 9 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
The following table summarizes restructuring reserve activity for the nine months ended September 30, 2023 and 2022:
Total Reserve
($ in millions)20232022
January 1$169 $231 
Approved restructuring actions12 84 
Release of prior reserves and other adjustments(a)
(16)(48)
Cash payments(44)(63)
Foreign currency impact(2)(23)
September 30$119 $181 
(a)Certain releases were recorded to reflect the current estimate of costs to complete planned business restructuring actions.
v3.23.3
Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The effect of dilutive securities on the weighted average common shares outstanding included in the calculation of earnings per diluted common share for the three and nine months ended September 30, 2023 and 2022 was as follows:
 Three Months Ended
September 30		Nine Months Ended
September 30
(number of shares in millions)2023202220232022
Weighted average common shares outstanding236.2 235.5 236.0 236.2 
Effect of dilutive securities:
Stock options0.6 0.4 0.5 0.6 
Other stock compensation plans0.7 0.7 0.7 0.7 
Potentially dilutive common shares1.3 1.1 1.2 1.3 
Adjusted weighted average common shares outstanding237.5 236.6 237.2 237.5 
Dividends per common share$0.65 $0.62 $1.89 $1.80 
Antidilutive securities(a):
Stock options0.4 0.9 0.9 0.9 
v3.23.3
Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
Nine Months Ended
September 30
20232022
Effective tax rate on pretax income22.5 %23.7 %
v3.23.3
Pensions and Other Postretirement Benefits (Tables)
 9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Net Periodic Benefit Cost
Net periodic pension benefit cost/(income) and other postretirement benefit cost for the three and nine months ended September 30, 2023 and 2022 were as follows:
 Pension
 Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Service cost$2 $3 $6 $7 
Interest cost28 18 83 55 
Expected return on plan assets(28)(35)(83)(106)
Amortization of actuarial losses6 8 16 25 
Settlements— — 191 — 
Net periodic benefit cost/(income)$8 ($6)$213 ($19)
 Other Postretirement Benefits
 Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Service cost$1 $2 $3 $6 
Interest cost7 4 20 12 
Amortization of actuarial losses/(gains)— 3 (1)9 
Amortization of prior service credit(2)(3)(5)(8)
Net periodic benefit cost$6 $6 $17 $19 
Defined Contribution Plan Disclosures
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Non-U.S. defined benefit pension mandatory contributions$1 $— $3 $2 
v3.23.3
Accumulated Other Comprehensive Loss (AOCL) (Tables)
 9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
($ in millions)
Foreign Currency Translation Adjustments (a)
Pension and Other Postretirement Benefit Adjustments, net of tax (b)
Unrealized Gain on Derivatives, net of taxAccumulated Other Comprehensive Loss
January 1, 2022($1,988)($763)$1 ($2,750)
Current year deferrals to AOCL(537)(9)— (546)
Reclassifications from AOCL to net income10 20 — 30 
September 30, 2022($2,515)($752)$1 ($3,266)
January 1, 2023($2,254)($557)$1 ($2,810)
Current year deferrals to AOCL170 (14)— 156 
Reclassifications from AOCL to net income30 152 — 182 
September 30, 2023($2,054)($419)$1 ($2,472)
(a)The tax cost related to unrealized foreign currency translation adjustments on net investment hedges was $85 million and $96 million as of September 30, 2023 and 2022, respectively.
(b)The tax (benefit)/cost related to the adjustment for pension and other postretirement benefits was $(47) million and $6 million for the nine months ended September 30, 2023 and 2022, respectively. Reclassifications from AOCL are included in the computation of net periodic benefit cost (See Note 10, "Pensions and Other Postretirement Benefits").
v3.23.3
Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value, Cash Flow and Net Investment Hedges
The following table summarizes the amount of gains/(losses) deferred in Other comprehensive income ("OCI") and the amount and location of gains/(losses) recognized within the condensed consolidated statement of income related to derivative and debt financial instruments for the nine months ended September 30, 2023 and 2022. All amounts are shown on a pretax basis.
September 30, 2023September 30, 2022Caption In Condensed Consolidated Statement of Income
($ in millions)Gain Deferred in OCIGain/(Loss) RecognizedGain Deferred in OCIGain Recognized
Economic
   Foreign currency forward contracts
$— $37 $— $34 Other charges/(income), net
Fair Value
   Interest rate swaps
— (7)— 7 Interest expense
Total forward contracts and interest rate swaps$— $30 $— $41 
Net Investment
Cross currency swaps$2 $10 $89 $11 Interest expense
Foreign denominated debt48 — 307 — 
Total Net Investment$50 $10 $396 $11 
Assets and Liabilities Reported at Fair Value on a Recurring Basis
Assets and liabilities reported at fair value on a recurring basis
September 30, 2023December 31, 2022
($ in millions)Level 1Level 2Level 3Level 1Level 2Level 3
Assets:
Other current assets:
Marketable equity securities$9 $— $— $9 $— $— 
Foreign currency forward contracts (a)
$— $3 $— $— $27 $— 
Cross currency swaps (b)
$— $5 $— $— $39 $— 
Investments:
Marketable equity securities$68 $— $— $61 $— $— 
Other assets:
Cross currency swaps (b)
$— $45 $— $— $49 $— 
Liabilities:
Accounts payable and accrued liabilities:
Foreign currency forward contracts (a)
$— $21 $— $— $3 $— 
Interest rate swaps (c)
$— $— $— $— $1 $— 
Other liabilities:
Interest rate swaps (c)
$— $27 $— $— $19 $— 
(a)Derivatives not designated as hedging instruments
(b)Net investment hedges
(c)Fair value hedges
Schedule of Long-term Debt Instruments
($ in millions)
September 30, 2023 (a)
December 31, 2022 (b)
Long-term debt - carrying value$6,189 $6,796 
Long-term debt - fair value$5,736 $6,375 
(a)Excludes finance lease obligations of $9 million and short-term borrowings of $4 million as of September 30, 2023.
(b)Excludes finance lease obligations of $10 million and short-term borrowings of $10 million as of December 31, 2022.
v3.23.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation, Activity [Table Text Block]
Stock-based compensation expense and the associated income tax benefit recognized during the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Stock-based compensation expense$8 $9 $42 $27 
Income tax benefit recognized$2 $2 $9 $6 
Details of Grants of Stock-based Compensation
Grants of stock-based compensation during the nine months ended September 30, 2023 and 2022 were as follows:
Nine Months Ended
September 30
20232022
SharesFair ValueSharesFair Value
Stock options410,001 $38.55 487,277 $36.52 
Restricted stock units289,573 $125.79 223,729 $141.50 
Contingent shares (a)
52,389 $129.03 57,134 $151.87 
(a)The number of contingent shares represents the target value of the award.
Weighted Average Assumptions Used in Calculating the Fair Value of Stock Option The fair value of the stock options granted during the nine months ended September 30, 2023 was calculated with the following weighted average assumptions:
Weighted average exercise price$130.08
Risk-free interest rate3.9 %
Expected life of option in years6.5
Expected dividend yield1.7 %
Expected volatility27.8 %
v3.23.3
Commitments and Contingent Liabilities (Tables)
 9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Environmental Liabilities [Table Text Block]
Environmental Reserves
($ in millions)September 30, 2023December 31, 2022
New Jersey Chrome$48 $58 
Glass and chemical57 60 
Other99 99 
Total$204 $217 
Current portion$53 $50 
Environmental Costs [Table Text Block]
Pretax charges against income for environmental remediation costs are included in Other charges/(income), net in the accompanying condensed consolidated statement of income. The pretax charges and cash outlays related to such environmental remediation for the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Environmental remediation pretax charges$3 $3 $16 $11 
Cash outlays for environmental remediation activities$12 $18 $28 $65 
v3.23.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue Disclosure [Abstract]  
Revenue from External Customers by Geographic Areas
Net sales by segment and region for the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Performance Coatings
United States and Canada$1,287 $1,268 $3,807 $3,660 
Europe, Middle East and Africa ("EMEA")932 841 2,822 2,784 
Asia Pacific274 281 821 842 
Latin America387 315 1,099 918 
Total$2,880 $2,705 $8,549 $8,204 
Industrial Coatings
United States and Canada$654 $686 $1,969 $2,024 
EMEA461 445 1,519 1,452 
Asia Pacific459 453 1,295 1,278 
Latin America190 179 564 509 
Total$1,764 $1,763 $5,347 $5,263 
Total Net Sales
United States and Canada$1,941 $1,954 $5,776 $5,684 
EMEA1,393 1,286 4,341 4,236 
Asia Pacific733 734 2,116 2,120 
Latin America577 494 1,663 1,427 
Total PPG$4,644 $4,468 $13,896 $13,467 
Accounts Receivable, Allowance for Credit Loss
The following table summarizes allowance for doubtful accounts activity for the nine months ended September 30, 2023 and 2022:
Trade Receivables Allowance for Doubtful Accounts
($ in millions)20232022
January 1$31 $31 
Bad debt expense10 46 
Recoveries of previously reserved trade receivables(15)(46)
Other(3)4 
September 30$23 $35 
v3.23.3
Reportable Business Segment Information (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Reportable Business Segment Net Sales and Segment Income
Reportable business segment net sales and segment income for the three and nine months ended September 30, 2023 and 2022 were as follows: 
Three Months Ended
September 30		Nine Months Ended
September 30
($ in millions)2023202220232022
Net sales:
Performance Coatings$2,880 $2,705 $8,549 $8,204 
Industrial Coatings1,764 1,763 5,347 5,263 
Total $4,644 $4,468 $13,896 $13,467 
Segment income:
Performance Coatings$452 $362 $1,384 $1,127 
Industrial Coatings246 192 736 488 
Total$698 $554 $2,120 $1,615 
Corporate(88)(59)(240)(166)
Interest expense, net of interest income(25)(32)(94)(80)
Pension settlement charge (a)
— — (190)— 
Business restructuring-related costs, net (b)
(13)(45)(27)(67)
Transaction-related costs (c)
(15)— (22)(10)
Insurance recovery of expenses incurred due to a natural disaster (d)
— — 9 — 
Impairment and other related charges, net (e)
— — — (230)
Income before income taxes$557 $418 $1,556 $1,062 
(a)In the first quarter 2023, PPG purchased group annuity contracts that transferred pension benefit obligations for certain of the Company’s retirees in the U.S. to third-party insurance companies, resulting in a non-cash pension settlement charge.
(b)Included in business restructuring-related costs, net are business restructuring charges, accelerated depreciation of certain assets and other related costs, offset by releases related to previously approved programs.
(c)Transaction-related costs include losses on the sale of certain assets, which are included in Other charges/(income), net in the condensed consolidated statement of income, including the loss recognized in the third quarter 2023 on the sale of the Company’s legacy industrial Russian operations, resulting primarily from the recognition of accumulated foreign currency translation losses upon the divestiture. Transaction-related costs also include advisory, legal, accounting, valuation, other professional or consulting fees, and certain internal costs directly incurred to effect acquisitions, which are included in Selling, general and administrative expense in the condensed consolidated statement of income, and the impact for the step up to fair value of inventory acquired in certain acquisitions, which is included in Cost of sales, exclusive of depreciation and amortization in the condensed consolidated statement of income.
(d)The Company incurred expenses due to damages at a southern U.S. factory resulting from a winter storm in 2020. In the first quarter 2023, the Company received reimbursement under its insurance policies related to the damages incurred at this factory due to this storm.
(e)In 2022, the Company recorded impairment and other related charges due to the wind down of the Company’s operations in Russia.
v3.23.3
New Accounting Standards (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Accounting Policies [Abstract]    
Supplier finance program, obligation $ 208 $ 390
v3.23.3
Inventories (Schedule of Inventory) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Inventory Disclosure [Abstract]    
Finished products $ 1,201 $ 1,209
Work in process 256 238
Raw materials 710 784
Supplies 50 41
Total $ 2,217 $ 2,272
v3.23.3
Inventories (Additional Information) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Inventory Disclosure [Line Items]    
First-in, first-out method of inventory valuation, amount of increase in inventory value $ 262 $ 272
UNITED STATES    
Inventory Disclosure [Line Items]    
U.S. inventories as a percentage of total inventories 16.00% 21.00%
v3.23.3
Goodwill and Other Identifiable Intangible Assets (Carrying Amount of Goodwill) (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2023
USD ($)
Goodwill [Roll Forward]  
Beginning Balance $ 6,078
Acquisitions, including purchase accounting adjustments 136
Foreign currency impact (33)
Ending Balance 6,181
Performance Coatings  
Goodwill [Roll Forward]  
Beginning Balance 4,881
Acquisitions, including purchase accounting adjustments 125
Foreign currency impact (16)
Ending Balance 4,990
Industrial Coatings  
Goodwill [Roll Forward]  
Beginning Balance 1,197
Acquisitions, including purchase accounting adjustments 11
Foreign currency impact (17)
Ending Balance $ 1,191
v3.23.3
Goodwill and Other Identifiable Intangible Assets (Identifiable Intangible Assets with Finite Lives) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]    
Indefinite-Lived Trademarks $ 1,405 $ 1,325
Gross Carrying Amount 3,083 3,043
Accumulated Amortization (2,072) (1,954)
Net 1,011 1,089
Intangible assets, gross (excluding goodwill) 4,488 4,368
Total Identifiable Intangible Assets 2,416 2,414
Remaining three months of 2023 30  
2024 132  
2025 120  
2026 98  
2027 90  
2028 78  
Thereafter 463  
Acquired technology    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 839 827
Accumulated Amortization (664) (636)
Net 175 191
Customer-related    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 1,882 1,855
Accumulated Amortization (1,190) (1,112)
Net 692 743
Trade names    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 313 311
Accumulated Amortization (171) (158)
Net 142 153
Other    
Acquired Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 49 50
Accumulated Amortization (47) (48)
Net $ 2 $ 2
v3.23.3
Business Restructuring (Schedule of Restructuring Activity) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Restructuring Charges[Line Items]    
January 1, 2023 $ 169 $ 231
Release of prior reserves and other adjustments (16) (48)
Cash payments 44 63
Foreign currency impact (2) (23)
September 30, 2023 119 181
Newly Approved Restructuring Actions    
Restructuring Charges[Line Items]    
Business restructuring, net $ 12 $ 84
v3.23.3
Borrowings (Details)
 1 Months Ended 9 Months Ended 12 Months Ended
Apr. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
May 31, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Jun. 30, 2021
USD ($)
Aug. 31, 2019
USD ($)
Sep. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jun. 30, 2023
Apr. 12, 2023
USD ($)
Mar. 31, 2022
EUR (€)
Feb. 28, 2021
USD ($)
Debt Instrument [Line Items]                          
Proceeds from issuance of notes     $ 1,061,000,000                    
Long-term debt               $ 6,189,000,000 $ 6,796,000,000        
Debt covenant, total indebtedness to total capitalization ratio, maximum             0.60            
Debt covenant, acquisition for consideration, minimum threshold             $ 1,000,000,000            
Debt 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               0.43          
Long-term commercial paper               $ 0 0        
Redemption price, percentage     101.00%                    
Outstanding letters of credit               235,000,000          
3.2% Notes Due 2023                          
Debt Instrument [Line Items]                          
Repayment of long-term debt       $ 300,000,000                  
Stated interest percentage                       3.20%  
2.750% Notes Due 2029                          
Debt Instrument [Line Items]                          
Aggregate principal amount     $ 700,000,000                    
Stated interest percentage     2.75%                    
1.875% Notes Due 2025                          
Debt Instrument [Line Items]                          
Aggregate principal amount     $ 300,000,000                    
Stated interest percentage     1.875%                    
Fixed Interest Note                          
Debt Instrument [Line Items]                          
Aggregate principal amount | €                       € 50,000,000  
Debt instrument term       15 years                  
Stated interest percentage                   1.95%      
Term Loan Credit Agreement                          
Debt Instrument [Line Items]                          
Aggregate principal amount                         $ 2,000,000,000
Proceeds from issuance of notes         $ 700,000,000 $ 700,000,000              
Repayment of long-term debt               800,000,000 300,000,000        
Long-term debt               300,000,000 1,100,000,000        
Term Loan                          
Debt Instrument [Line Items]                          
Aggregate principal amount                     $ 500,000,000    
Term loan, increase limit                     $ 250,000,000    
Proceeds from issuance of notes $ 500,000,000                        
Revolving Credit Facility | Unsecured Debt                          
Debt Instrument [Line Items]                          
Long-term debt               $ 0 $ 0        
Debt instrument term   5 years                      
Revolving credit facility outstanding   $ 2,300,000,000                      
Line of credit facility, additional borrowing capacity available to lender conditions   $ 750,000,000                      
v3.23.3
Impairment and Other Related Charges (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Restructuring Charges[Line Items]              
Impairment and other related charges, net $ 0 $ 0 $ 60 $ (290) $ 0 $ (230)  
Tangible asset impairment charges       201      
Other asset impairment charges       89      
Russia              
Restructuring Charges[Line Items]              
Impairment and other related charges, net           $ (230)  
Revenue Benchmark | Geographic Concentration Risk | Russia              
Restructuring Charges[Line Items]              
Revenue, percentage of total revenue 1.00%       1.00%   1.00%
Indefinite-lived Intangible Assets              
Restructuring Charges[Line Items]              
Tangible asset impairment charges       124      
Property, Plant and Equipment              
Restructuring Charges[Line Items]              
Tangible asset impairment charges       54      
Finite-Lived Intangible Assets              
Restructuring Charges[Line Items]              
Tangible asset impairment charges       $ 23      
v3.23.3
Earnings Per Common Share (Calculations) (Details) - $ / shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Earnings Per Share, Diluted [Abstract]        
Weighted average common shares outstanding (in shares) 236.2 235.5 236.0 236.2
Effect of dilutive securities:        
Stock options (in shares) 0.6 0.4 0.5 0.6
Other stock compensation plans (in shares) 0.7 0.7 0.7 0.7
Potentially dilutive common shares (in shares) 1.3 1.1 1.2 1.3
Adjusted weighted average common shares outstanding (in shares) 237.5 236.6 237.2 237.5
Dividends per common share (in dollars per share) $ 0.65 $ 0.62 $ 1.89 $ 1.80
Antidilutive securities, stock options (in shares) 0.4 0.9 0.9 0.9
v3.23.3
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Tax Contingency [Line Items]            
Effective income tax rate         22.50% 23.70%
Net tax charge   $ 27        
Impairment and other related charges, net $ 0 $ 0 $ (60) $ 290 $ 0 $ 230
Russia            
Income Tax Contingency [Line Items]            
Impairment and other related charges, net           $ 230
v3.23.3
Pensions and Other Postretirement Benefits (Net Periodic Benefit Costs) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]          
Pension settlement charge $ 0   $ 0 $ 190 $ 0
Pension          
Defined Benefit Plan Disclosure [Line Items]          
Service cost 2   3 6 7
Interest cost 28   18 83 55
Expected return on plan assets (28)   (35) (83) (106)
Amortization of actuarial losses 6   8 16 25
Pension settlement charge 0 $ 190 0 191 0
Net periodic benefit cost/(income) 8   (6) 213 (19)
Other Postretirement Benefits Plan [Member]          
Defined Benefit Plan Disclosure [Line Items]          
Service cost 1   2 3 6
Interest cost 7   4 20 12
Amortization of actuarial losses 0   3 (1) 9
Amortization of prior service credit (2)   (3) (5) (8)
Net periodic benefit cost/(income) $ 6   $ 6 $ 17 $ 19
v3.23.3
Pensions and Other Postretirement Benefits (Additional Information) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Sep. 30, 2022
Jun. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]            
Benefit pension plan, decrease for remeasurement due to Settlement   $ 309        
Pension            
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]            
Net periodic benefit cost/(income) $ 8   $ (6)   $ 213 $ (19)
Other Postretirement Benefits Plan [Member]            
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]            
Net periodic benefit cost/(income) 6   6   17 19
Mandatory Contribution            
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]            
Contributions to defined benefit pension plans $ 1   $ 0   $ 3 $ 2
Scenario, Forecast | Pension            
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]            
Net periodic benefit cost/(income)       $ 220    
Scenario, Forecast | Other Postretirement Benefits Plan [Member]            
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]            
Net periodic benefit cost/(income)       $ 25    
v3.23.3
Accumulated Other Comprehensive Loss (AOCL) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Accumulated Other Comprehensive Income Loss [Line Items]        
Accumulated other comprehensive loss $ (2,472)   $ (2,810)  
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax 156 $ (546)    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 182 30    
Tax cost related to unrealized currency translation adjustments other than translation of foreign denominated balance sheets 85 96    
Pension and other postretirement benefit adjustments, tax cost (47) 6    
Accumulated Translation Adjustment [Member]        
Accumulated Other Comprehensive Income Loss [Line Items]        
Accumulated other comprehensive loss (2,054) (2,515) (2,254) $ (1,988)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax 170 (537)    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 30 10    
Accumulated Defined Benefit Plans Adjustment [Member]        
Accumulated Other Comprehensive Income Loss [Line Items]        
Accumulated other comprehensive loss (419) (752) (557) (763)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax (14) (9)    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 152 20    
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest        
Accumulated Other Comprehensive Income Loss [Line Items]        
Accumulated other comprehensive loss 1 1 1 1
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax 0 0    
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0 0    
Accumulated Other Comprehensive Loss        
Accumulated Other Comprehensive Income Loss [Line Items]        
Accumulated other comprehensive loss $ (2,472) $ (3,266) $ (2,810) $ (2,750)
v3.23.3
Financial Instruments, Hedging Activities and Fair Value Measurements (Additional Information) (Details)
$ in Millions, € in Billions
 3 Months Ended 9 Months Ended
Mar. 31, 2023
EUR (€)
Sep. 30, 2023
EUR (€)
Sep. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value, Net     $ 50 $ 88
Fair Value of Debt Instrument Designated as a Hedge of Net Investment in Foreign Operations     3,100 2,600
Long-term debt     6,189 6,796
Long-term debt, fair value     5,736 6,375
Finance Lease, Liability     9 10
Short-term debt     4 10
Interest rate swaps        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative, Notional Amount     375 525
Interest Rate Derivatives, at Fair Value, Net     27 20
Interest rate swaps | Accounts payable and accrued liabilities | Level 1        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative liabilities     0 0
Interest rate swaps | Accounts payable and accrued liabilities | Level 2        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative liabilities     0 1
Interest rate swaps | Accounts payable and accrued liabilities | Level 3        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative liabilities     0 0
Cross currency swaps        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative, Notional Amount     475 775
Foreign currency forward contracts        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative, Notional Amount     2,400 1,800
Foreign Currency Contracts, Liability, Fair Value Disclosure     18 24
Foreign currency forward contracts | Level 1 | Not Designated as Hedging Instrument        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative liabilities     0 0
Derivative assets     0 0
Foreign currency forward contracts | Level 2 | Not Designated as Hedging Instrument        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative liabilities     21 3
Derivative assets     3 27
Foreign currency forward contracts | Level 3 | Not Designated as Hedging Instrument        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Derivative liabilities     0 0
Derivative assets     $ 0 $ 0
Net Investment Hedging        
Derivative Instruments and Hedging Activities Disclosure [Line Items]        
Long-term Debt | € € 2.5 € 3.0    
v3.23.3
Financial Instruments, Hedging Activities and Fair Value Measurements (Cash Flow and Net Investment Hedges) (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Fair Value Hedging | Interest rate swaps    
Derivatives, Fair Value [Line Items]    
Gain/(Loss) Recognized $ (7) $ 7
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest expense Interest expense
Cash Flow Hedging    
Derivatives, Fair Value [Line Items]    
Gain Deferred in OCI $ 0 $ 0
Gain/(Loss) Recognized 30 41
Net Investment Hedging    
Derivatives, Fair Value [Line Items]    
Gain Deferred in OCI 50 396
Gain/(Loss) Recognized 10 11
Net Investment Hedging | Cross currency swaps    
Derivatives, Fair Value [Line Items]    
Gain Deferred in OCI 2 89
Gain/(Loss) Recognized 10 11
Net Investment Hedging | Foreign denominated debt    
Derivatives, Fair Value [Line Items]    
Gain Deferred in OCI 48 307
Not Designated as Hedging Instrument | Foreign currency forward contracts    
Derivatives, Fair Value [Line Items]    
Gain/(Loss) Recognized $ 37 $ 34
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Income Other Income
v3.23.3
Financial Instruments, Hedging Activities and Fair Value Measurements (Assets and liabilities reported at fair value on a recurring basis) (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other current assets Other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accounts payable and accrued liabilities Accounts payable and accrued liabilities
Other current assets | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable equity securities $ 9 $ 9
Other current assets | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable equity securities 0 0
Other current assets | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable equity securities 0 0
Investments | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable equity securities 68 61
Investments | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable equity securities 0 0
Investments | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable equity securities 0 0
Foreign currency forward contracts | Not Designated as Hedging Instrument | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Derivative liabilities 0 0
Foreign currency forward contracts | Not Designated as Hedging Instrument | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 3 27
Derivative liabilities 21 3
Foreign currency forward contracts | Not Designated as Hedging Instrument | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Derivative liabilities 0 0
Cross currency swaps | Other current assets | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Cross currency swaps | Other current assets | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 5 39
Cross currency swaps | Other current assets | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Cross currency swaps | Other assets | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Cross currency swaps | Other assets | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 45 49
Cross currency swaps | Other assets | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets 0 0
Interest rate swaps | Accounts payable and accrued liabilities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities 0 0
Interest rate swaps | Accounts payable and accrued liabilities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities 0 1
Interest rate swaps | Accounts payable and accrued liabilities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities 0 0
Interest rate swaps | Other Liabilities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities 0 0
Interest rate swaps | Other Liabilities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities 27 19
Interest rate swaps | Other Liabilities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities $ 0 $ 0
v3.23.3
Stock-Based Compensation (Additional Information) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense $ 8 $ 9 $ 42 $ 27
Total income tax benefit recognized related to the stock-based compensation $ 2 $ 2 $ 9 $ 6
Stock options granted from the PPG Omnibus Plan     410,001 487,277
Stock options granted from the PPG Omnibus Plan, weighted average fair value per share (in usd per share)     $ 38.55 $ 36.52
Maximum term of the outstanding stock options for the PPG Omnibus Plan and the PPG Stock Plan for certain employees     10 years  
Restricted Stock Units (RSUs) [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
RSUs granted     289,573 223,729
RSUs granted, weighted average fair value per share (in usd per share)     $ 125.79 $ 141.50
Award vesting period (in years)     3 years  
Stock Compensation Plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
RSUs granted     52,389 57,134
RSUs granted, weighted average fair value per share (in usd per share)     $ 129.03 $ 151.87
Minimum | Restricted Stock Units (RSUs) [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share Based Compensation Arrangement By Share Based Payment Award Target Award     0.00%  
Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Options exercisable period     36 months  
Maximum | Restricted Stock Units (RSUs) [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share Based Compensation Arrangement By Share Based Payment Award Target Award     200.00%  
v3.23.3
Stock-Based Compensation (Weighted Average Assumptions Used in Calculating Fair Value of Stock Option) (Details)
 9 Months Ended
Sep. 30, 2023
$ / shares
Share-Based Payment Arrangement [Abstract]  
Weighted average exercise price (in usd per share) $ 130.08
Risk free interest rate 3.90%
Expected life of option in years 6 years 6 months
Expected dividend yield 1.70%
Expected volatility 27.80%
v3.23.3
Commitments and Contingent Liabilities - Asbestos Matters (Details) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Asbestos Issue    
Loss contingency accrual $ 48 $ 51
v3.23.3
Commitments and Contingent Liabilities - Environmental Matters (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
Commitments and Contingencies Disclosure [Line Items]          
Reserves for environmental contingencies $ 204   $ 204   $ 217
Reserves for environmental contingencies classified as current liabilities 53   53   50
Environmental remediation charge 3 $ 3 16 $ 11  
Payments for Environmental Liabilities $ 12 $ 18 $ 28 $ 65  
Soil Remediation          
Commitments and Contingencies Disclosure [Line Items]          
Percentage of total remaining reserve 0.70   0.70    
Long-Term Monitoring          
Commitments and Contingencies Disclosure [Line Items]          
Percentage of total remaining reserve 0.10   0.10    
Minimum          
Commitments and Contingencies Disclosure [Line Items]          
Unreserved loss contingencies related to environmental matters     $ 100    
Maximum          
Commitments and Contingencies Disclosure [Line Items]          
Unreserved loss contingencies related to environmental matters     200    
New Jersey Chrome          
Commitments and Contingencies Disclosure [Line Items]          
Reserves for environmental contingencies $ 48   48   58
Glass and chemical          
Commitments and Contingencies Disclosure [Line Items]          
Reserves for environmental contingencies 57   57   60
Other          
Commitments and Contingencies Disclosure [Line Items]          
Reserves for environmental contingencies $ 99   $ 99   $ 99
v3.23.3
Revenue Recognition - Schedule Of Revenue By Revenue Source (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Disaggregation of Revenue [Line Items]        
Net sales $ 4,644 $ 4,468 $ 13,896 $ 13,467
United States and Canada        
Disaggregation of Revenue [Line Items]        
Net sales 1,941 1,954 5,776 5,684
Europe, Middle East and Africa ("EMEA")        
Disaggregation of Revenue [Line Items]        
Net sales 1,393 1,286 4,341 4,236
Asia Pacific        
Disaggregation of Revenue [Line Items]        
Net sales 733 734 2,116 2,120
Latin America        
Disaggregation of Revenue [Line Items]        
Net sales 577 494 1,663 1,427
Performance Coatings        
Disaggregation of Revenue [Line Items]        
Net sales 2,880 2,705 8,549 8,204
Performance Coatings | United States and Canada        
Disaggregation of Revenue [Line Items]        
Net sales 1,287 1,268 3,807 3,660
Performance Coatings | Europe, Middle East and Africa ("EMEA")        
Disaggregation of Revenue [Line Items]        
Net sales 932 841 2,822 2,784
Performance Coatings | Asia Pacific        
Disaggregation of Revenue [Line Items]        
Net sales 274 281 821 842
Performance Coatings | Latin America        
Disaggregation of Revenue [Line Items]        
Net sales 387 315 1,099 918
Industrial Coatings        
Disaggregation of Revenue [Line Items]        
Net sales 1,764 1,763 5,347 5,263
Industrial Coatings | United States and Canada        
Disaggregation of Revenue [Line Items]        
Net sales 654 686 1,969 2,024
Industrial Coatings | Europe, Middle East and Africa ("EMEA")        
Disaggregation of Revenue [Line Items]        
Net sales 461 445 1,519 1,452
Industrial Coatings | Asia Pacific        
Disaggregation of Revenue [Line Items]        
Net sales 459 453 1,295 1,278
Industrial Coatings | Latin America        
Disaggregation of Revenue [Line Items]        
Net sales $ 190 $ 179 $ 564 $ 509
Revenue from Contract with Customer | Service | Revenue from Rights Concentration Risk        
Disaggregation of Revenue [Line Items]        
Revenue, percentage of total revenue 5.00% 5.00% 5.00% 5.00%
v3.23.3
Revenue Recognition - Schedule of Credit Losses (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
January 1   $ 31 $ 31
Bad debt expense $ 43 10 46
Recoveries of previously reserved trade receivables   (15) (46)
Other   (3) 4
June 30   $ 23 $ 35
v3.23.3
Reportable Business Segment Information (Additional Information) (Details)
 9 Months Ended
Sep. 30, 2023
Segment
Segment Reporting [Abstract]  
Number of Operating Segments 10
Number of Reportable Segments 2
v3.23.3
Reportable Business Segment Information (Segment Net Sales and Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]            
Net sales $ 4,644 $ 4,468     $ 13,896 $ 13,467
Segment income (loss) 698 554     2,120 1,615
Corporate (88) (59)     (240) (166)
Interest expense, net of interest income (25) (32)     (94) (80)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement 0 0     (190) 0
Insurance recovery of expenses incurred due to a natural disaster 0 0     9 0
Impairment and other related charges, net 0 0 $ 60 $ (290) 0 (230)
Business restructuring-related costs, net (13) (45)     (27) (67)
Acquisition-related costs (15) 0     (22) (10)
Income before income taxes 557 418     1,556 1,062
Performance Coatings            
Segment Reporting, Revenue Reconciling Item [Line Items]            
Net sales 2,880 2,705     8,549 8,204
Segment income (loss) 452 362     1,384 1,127
Industrial Coatings            
Segment Reporting, Revenue Reconciling Item [Line Items]            
Net sales 1,764 1,763     5,347 5,263
Segment income (loss) $ 246 $ 192     $ 736 $ 488