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PPG Industries Inc. – ‘10-K’ for 12/31/23 – ‘EX-31.2’

On:  Thursday, 2/15/24, at 1:10pm ET   ·   For:  12/31/23   ·   Accession #:  79879-24-40   ·   File #:  1-01687

Previous ‘10-K’:  ‘10-K’ on 2/16/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   31 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/15/24  PPG Industries Inc.               10-K       12/31/23  135:17M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.72M 
 2: EX-4.11     Instrument Defining the Rights of Security Holders  HTML     79K 
 4: EX-10.12    Material Contract                                   HTML    108K 
 5: EX-10.13    Material Contract                                   HTML    117K 
 6: EX-10.14    Material Contract                                   HTML    211K 
 7: EX-10.15    Material Contract                                   HTML    202K 
 8: EX-10.16    Material Contract                                   HTML     65K 
 3: EX-10.6     Material Contract                                   HTML    213K 
 9: EX-13.1     Annual or Quarterly Report to Security Holders      HTML     49K 
10: EX-21       Subsidiaries List                                   HTML    153K 
11: EX-23       Consent of Expert or Counsel                        HTML     36K 
12: EX-24       Power of Attorney                                   HTML     50K 
17: EX-97.1     Clawback Policy re: Recovery of Erroneously         HTML     45K 
                Awarded Compensation                                             
13: EX-31.1     Certification -- §302 - SOA'02                      HTML     40K 
14: EX-31.2     Certification -- §302 - SOA'02                      HTML     40K 
15: EX-32.1     Certification -- §906 - SOA'02                      HTML     37K 
16: EX-32.2     Certification -- §906 - SOA'02                      HTML     37K 
23: R1          Cover                                               HTML    115K 
24: R2          Audit Information                                   HTML     41K 
25: R3          Consolidated Statement of Income                    HTML    161K 
26: R4          Consolidated Statement of Comprehensive Income      HTML     75K 
27: R5          Consolidated Balance Sheet                          HTML    172K 
28: R6          Consolidated Statement of Shareholders' Equity      HTML     99K 
29: R7          Consolidated Statement of Cash Flows                HTML    143K 
30: R8          Summary of Significant Accounting Policies          HTML     77K 
31: R9          Acquisitions                                        HTML     40K 
32: R10         Working Capital Detail                              HTML     62K 
33: R11         Property, Plant and Equipment                       HTML     51K 
34: R12         Investments                                         HTML     46K 
35: R13         Goodwill and Other Identifiable Intangible Assets   HTML     85K 
36: R14         Impairment and Other Related Charges                HTML     43K 
37: R15         Business Restructuring                              HTML     51K 
38: R16         Leases                                              HTML    163K 
39: R17         Borrowings and Lines of Credit                      HTML     99K 
40: R18         Financial Instruments, Hedging Activities and Fair  HTML    118K 
                Value Measurements                                               
41: R19         Earnings Per Common Share                           HTML     67K 
42: R20         Income Taxes                                        HTML    136K 
43: R21         Employee Benefit Plans                              HTML    342K 
44: R22         Commitments and Contingent Liabilities              HTML     76K 
45: R23         Shareholders' Equity                                HTML     61K 
46: R24         Accumulated Other Comprehensive Loss                HTML     60K 
47: R25         Other (Income)/Charges, Net                         HTML     57K 
48: R26         Stock-Based Compensation                            HTML     94K 
49: R27         Revenue Recognition                                 HTML     82K 
50: R28         Reportable Business Segment Information             HTML    151K 
51: R29         Summary of Significant Accounting Policies          HTML    130K 
                (Policies)                                                       
52: R30         Summary of Significant Accounting Policies          HTML     45K 
                (Tables)                                                         
53: R31         Working Capital Detail (Tables)                     HTML     62K 
54: R32         Property, Plant and Equipment (Tables)              HTML     51K 
55: R33         Investments (Tables)                                HTML     44K 
56: R34         Goodwill and Other Identifiable Intangible Assets   HTML     92K 
                (Tables)                                                         
57: R35         Business Restructuring (Tables)                     HTML     48K 
58: R36         Leases (Tables)                                     HTML    119K 
59: R37         Borrowings and Lines of Credit (Tables)             HTML     93K 
60: R38         Financial Instruments, Hedging Activities and Fair  HTML    150K 
                Value Measurements (Tables)                                      
61: R39         Earnings Per Common Share (Tables)                  HTML     67K 
62: R40         Income Taxes (Tables)                               HTML    139K 
63: R41         Employee Benefit Plans (Tables)                     HTML    341K 
64: R42         Commitments and Contingent Liabilities (Tables)     HTML     58K 
65: R43         Shareholders' Equity (Tables)                       HTML     54K 
66: R44         Accumulated Other Comprehensive Loss (Tables)       HTML     59K 
67: R45         Other (Income)/Charges, Net (Tables)                HTML     57K 
68: R46         Stock-Based Compensation (Tables)                   HTML     95K 
69: R47         Revenue Recognition (Tables)                        HTML     77K 
70: R48         Reportable Business Segment Information (Tables)    HTML    144K 
71: R49         Summary of Significant Accounting Policies          HTML    107K 
                (Additional Information) (Detail)                                
72: R50         Acquisitions (Detail)                               HTML     43K 
73: R51         Working Capital Detail (Detail)                     HTML     69K 
74: R52         Working Capital Detail (Additional Information)     HTML     39K 
                (Detail)                                                         
75: R53         Property, Plant and Equipment (Detail)              HTML     69K 
76: R54         Investments (Detail)                                HTML     57K 
77: R55         Goodwill and Other Identifiable Intangible Assets   HTML     60K 
                (Carrying Amount of Goodwill Attributable to Each                
                Reportable Segment) (Detail)                                     
78: R56         Goodwill and Other Identifiable Intangible Assets   HTML     63K 
                (Identifiable Intangible Assets with Finite Lives)               
                (Detail)                                                         
79: R57         Goodwill and Other Identifiable Intangible Assets   HTML     62K 
                (Additional Information) (Details)                               
80: R58         Goodwill and Other Identifiable Intangible Assets   HTML     47K 
                (Identifiable Intangible Assets, Future                          
                Amortization) (Detail)                                           
81: R59         Impairment and Other Related Charges (Details)      HTML     69K 
82: R60         Business Restructuring (Additional Information)     HTML     51K 
                (Detail)                                                         
83: R61         Leases - Schedule of Components of Lease Expense    HTML     58K 
                (Details)                                                        
84: R62         Leases - Schedule of Classification on the          HTML     63K 
                Condensed Consolidated Balance Sheet (Details)                   
85: R63         Leases - Schedule of Cash Paid for Lease            HTML     48K 
                Liabilities and Right-of-Use Assets Obtained in                  
                Exchange for Lease Obligations (Details)                         
86: R64         Leases - Schedule of Weighted-Average Remaining     HTML     45K 
                Lease Term and Weighted-Average Discount Rate                    
                (Details)                                                        
87: R65         Leases - Schedule of Maturities of Lease            HTML     76K 
                Liabilities (Details)                                            
88: R66         Borrowings and Lines of Credit (Long-term Debt      HTML    127K 
                Obligations) (Details)                                           
89: R67         Borrowings and Lines of Credit (Additional          HTML    203K 
                Information) (Details)                                           
90: R68         Borrowings and Lines of Credit (Long-term Debt      HTML     53K 
                Maturities) (Details)                                            
91: R69         Borrowings and Lines of Credit (Short-term Debt     HTML     41K 
                Outstanding) (Detail)                                            
92: R70         Financial Instruments, Hedging Activities and Fair  HTML     78K 
                Value Measurements (Additional Information)                      
                (Detail)                                                         
93: R71         Financial Instruments, Hedging Activities and Fair  HTML     57K 
                Value Measurements (Fair Value, Cash Flow and Net                
                Investment Hedges) (Detail)                                      
94: R72         Financial Instruments, Hedging Activities and Fair  HTML     79K 
                Value Measurements (Assets and Liabilities                       
                Reported at Fair Value on a Recurring Basis)                     
                (Detail)                                                         
95: R73         Financial Instruments, Hedging Activities and Fair  HTML     47K 
                Value Measurements (Long-Term Debt) (Detail)                     
96: R74         Earnings Per Common Share (Additional Detail)       HTML    108K 
                (Detail)                                                         
97: R75         Income Taxes (Components of Income Tax Expense)     HTML     64K 
                (Detail)                                                         
98: R76         Income Taxes (Reconciliation of Statutory U.S.      HTML     68K 
                Corporate Federal Income Tax Rate to Effective                   
                Income Tax Rate) (Detail)                                        
99: R77         Income Taxes (Additional Information) (Detail)      HTML     57K 
100: R78         Income Taxes (Net Deferred Income Tax Assets and    HTML     97K  
                Liabilities) (Detail)                                            
101: R79         Income Taxes (Unrecognized Tax Benefits) (Detail)   HTML     57K  
102: R80         Employee Benefit Plans (Additional Information)     HTML    138K  
                (Detail)                                                         
103: R81         Employee Benefit Plans (Changes in Projected        HTML    147K  
                Benefit Obligations, Plan Assets and Funded                      
                Status) (Detail)                                                 
104: R82         Employee Benefit Plans (Accumulated Other           HTML     48K  
                Comprehensive Loss Pretax Amounts Not Yet                        
                Reflected in Net Periodic Benefit Cost) (Details)                
105: R83         Employee Benefit Plans (Change in Accumulated       HTML     63K  
                Other Comprehensive Loss (Pretax) Relating to                    
                Defined Benefit Pension and Other Postretirement                 
                Benefits) (Detail)                                               
106: R84         Employee Benefit Plans (Net Periodic Benefit        HTML     64K  
                Costs) (Detail)                                                  
107: R85         Employee Benefit Plans (Weighted Average            HTML     49K  
                Assumptions Used to Determine Benefit Obligation                 
                for Defined Benefit Pension and Other                            
                Postretirement Plans) (Detail)                                   
108: R86         Employee Benefit Plans (Weighted Average            HTML     49K  
                Assumptions Used to Determine Net Periodic Benefit               
                Cost for Defined Benefit Pension and Other                       
                Postretirement Plans) (Detail)                                   
109: R87         Employee Benefit Plans (Weighted Average Target     HTML     52K  
                Pension Plan Asset Allocations) (Detail)                         
110: R88         Employee Benefit Plans (Fair Values of the          HTML    119K  
                Company's Pension Plan Assets by Asset Category)                 
                (Detail)                                                         
111: R89         Employee Benefit Plans (Change in Fair Value of     HTML     64K  
                Company's Level 3 Pension Assets) (Detail)                       
112: R90         Employee Benefit Plans (Other Plans) (Details)      HTML     56K  
113: R91         Commitments and Contingent Liabilities (Asbestos    HTML     43K  
                Matters) (Detail)                                                
114: R92         Commitments and Contingent Liabilities              HTML    100K  
                (Environmental Matters) (Detail)                                 
115: R93         Shareholders' Equity (Summary of Shares             HTML     63K  
                Outstanding) (Detail)                                            
116: R94         Accumulated Other Comprehensive Loss (Detail)       HTML     77K  
117: R95         Other (Income)/Charges, Net (Detail)                HTML     69K  
118: R96         Stock-Based Compensation (Activity) (Detail)        HTML     40K  
119: R97         Stock-Based Compensation (Additional Information)   HTML     87K  
                (Detail)                                                         
120: R98         Stock-Based Compensation (Weighted Average          HTML     48K  
                Assumptions Used in Calculating Fair Value of                    
                Stock Option) (Details)                                          
121: R99         Stock-Based Compensation (Stock Options             HTML     88K  
                Outstanding, Exercisable and Activity) (Detail)                  
122: R100        Stock-Based Compensation (Stock Option Activity)    HTML     45K  
                (Details)                                                        
123: R101        Stock-Based Compensation (RSU Activity) (Details)   HTML     62K  
124: R102        Revenue Recognition - Narrative (Details)           HTML     54K  
125: R103        Revenue Recognition - Schedule Of Revenue           HTML     73K  
                (Details)                                                        
126: R104        Revenue Recognition - Summary of Allowance for      HTML     47K  
                Doubtful Accounts (Details)                                      
127: R105        Reportable Business Segment Information             HTML     40K  
                (Reportable Segment Information) (Detail)                        
128: R106        Reportable Business Segment Information             HTML    119K  
                (Reportable Segment Tables) (Detail)                             
129: R107        Reportable Business Segment Information             HTML     53K  
                (Geographic Information) (Detail)                                
130: R108        Schedule II - Valuation and Qualifying Accounts     HTML     62K  
                (Detail)                                                         
132: XML         IDEA XML File -- Filing Summary                      XML    244K  
135: XML         XBRL Instance -- ppg-20231231_htm                    XML   4.45M  
131: EXCEL       IDEA Workbook of Financial Report Info              XLSX    278K  
19: EX-101.CAL  XBRL Calculations -- ppg-20231231_cal                XML    346K 
20: EX-101.DEF  XBRL Definitions -- ppg-20231231_def                 XML   1.16M 
21: EX-101.LAB  XBRL Labels -- ppg-20231231_lab                      XML   2.99M 
22: EX-101.PRE  XBRL Presentations -- ppg-20231231_pre               XML   1.84M 
18: EX-101.SCH  XBRL Schema -- ppg-20231231                          XSD    277K 
133: JSON        XBRL Instance as JSON Data -- MetaLinks              853±  1.29M  
134: ZIP         XBRL Zipped Folder -- 0000079879-24-000040-xbrl      Zip    893K  


‘EX-31.2’   —   Certification — §302 – SOA’02


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Exhibit 31.2
PRINCIPAL FINANCIAL OFFICER CERTIFICATION
I, Vincent J. Morales, certify that:
1.I have reviewed this annual report on Form 10-K of PPG Industries, Inc.;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:February 15, 2024/s/ Vincent J. Morales
Vincent J. Morales
Senior Vice President and Chief Financial Officer
(Principal Financial Officer)



Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/15/24None on these Dates
For Period end:12/31/23
 List all Filings 


31 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/22/24  PPG Industries Inc.               8-K:5,9     1/18/24   12:466K
 7/31/23  PPG Industries Inc.               8-K:1,2,9   7/27/23   12:1.2M
 4/18/23  PPG Industries Inc.               8-K:1,2,9   4/12/23   12:769K
 3/27/23  PPG Industries Inc.               8-K:1,2,9   3/23/23   13:1.8M
 2/16/23  PPG Industries Inc.               10-K       12/31/22  129:18M
 5/25/22  PPG Industries Inc.               8-K:1,2,9   5/25/22   13:321K                                   Donnelley … Solutions/FA
 5/13/22  PPG Industries Inc.               8-K:5,9     5/09/22   13:530K
 3/04/21  PPG Industries Inc.               8-K:1,2,9   3/01/21   14:512K                                   Donnelley … Solutions/FA
 2/23/21  PPG Industries Inc.               8-K:1,2,9   2/19/21   13:954K
 5/19/20  PPG Industries Inc.               8-K:1,2,9   5/14/20   14:525K                                   Donnelley … Solutions/FA
 9/04/19  PPG Industries Inc.               8-K:1,2,9   8/30/19   13:1.1M
 8/15/19  PPG Industries Inc.               8-K:1,2,9   8/15/19   13:315K                                   Donnelley … Solutions/FA
 2/21/19  PPG Industries Inc.               10-K       12/31/18  125:21M
 2/27/18  PPG Industries Inc.               8-K:1,2,9   2/27/18    4:259K                                   Donnelley … Solutions/FA
11/03/16  PPG Industries Inc.               8-K:1,2,9  11/03/16    3:98K                                    Donnelley … Solutions/FA
 3/10/16  PPG Industries Inc.               DEF 14A     4/21/16    1:2.7M                                   Toppan Merrill-FA
 3/13/15  PPG Industries Inc.               8-K:1,2,9   3/13/15    3:92K                                    Donnelley … Solutions/FA
10/24/14  PPG Industries Inc.               10-Q        9/30/14   86:10M
 4/24/14  PPG Industries Inc.               10-Q        3/31/14   93:10M
 2/21/13  PPG Industries Inc.               10-K       12/31/12  142:28M
 8/03/12  PPG Industries Inc.               8-K:1,2,9   7/31/12    4:207K                                   Donnelley … Solutions/FA
 7/30/12  PPG Industries Inc.               10-Q        6/30/12   93:9.2M                                   Donnelley … Solutions/FA
 2/16/12  PPG Industries Inc.               10-K       12/31/11  139:20M                                    Donnelley … Solutions/FA
 3/10/11  PPG Industries Inc.               DEF 14A     4/21/11    1:1.3M                                   Donnelley … Solutions/FA
11/12/10  PPG Industries Inc.               8-K:1,9    11/08/10    5:235K                                   Donnelley … Solutions/FA
 2/18/10  PPG Industries Inc.               10-K       12/31/09   55:6.7M                                   Donnelley … Solutions/FA
 3/18/08  PPG Industries Inc.               8-K:1,9     3/13/08    6:492K                                   Bowne BCL/FA
 2/21/08  PPG Industries Inc.               10-K       12/31/07   18:3.5M                                   Donnelley … Solutions/FA
 2/15/05  PPG Industries Inc.               8-K:1,5,9   2/15/05    6:100K                                   Donnelley Fi… Express/FA
 7/26/04  PPG Industries Inc.               10-Q        6/30/04    9:865K                                   Donnelley … Solutions/FA
 2/24/98  PPG Industries Inc.               10-K       12/31/97   12:374K                                   Donnelley R R & S… 04/FA
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Filing Submission 0000079879-24-000040   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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