宣伟 2025年季度报告

Quarterly Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period EndedJune 30, 2025orTransition Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934For the transition period fromCommission file number1-04851THE SHERWIN-WILLIAMS COMPANY Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Non-acceleratedfiler☐Smallerreportingcompany☐Emerging growth company☐ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.Common Stock, $0.33-1/3 Par Value –249,333,316shares as of June30, 2025. PART I. FINANCIAL INFORMATIONItem 1. Financial StatementsItem 2. Management’s Discussion and Analysis of Results of Operations and Financial Condition Item 4. Controls and Procedures Item 6. ExhibitsSIGNATURES 6 (millions of dollars, unless otherwise noted)Periods ended June30, 2025 and 2024NOTE 1 -BASIS OF PRESENTATIONThe accompanying unaudited condensed consolidated financial statements included in this report have been prepared by management (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidatedfinancial statements include the accounts of the Company and all consolidated subsidiaries. Intercompany accounts and transactionshave been eliminated. The Company’s share of earnings or losses from nonconsolidated affiliates is included in the condensedconsolidated financial statements using the equity method of accounting when the Company is able to exercise significant influence The Company has historically experienced, and expects to continue to experience, variability in quarterly results. The results ofoperations for the three and six months ended June30, 2025are not indicative of the results to be expected for the full year as business quarters. However, periods of economic uncertainty can alter the Company’s seasonal patterns.SinceDecember31, 2024, accounting estimates were revised as necessary during the firstsix monthsof 2025based on new The following represents updates to certain significant accounting policy disclosures. For further details on the Company’s significant accounting policies and related disclosures, see Note 1 to the Consolidated Financial Statements in the Company’s Annual Report onForm 10-K for the year ended December31, 2024.Supply Chain Financing payable on the Consolidated Balance Sheets and amounted to $222.2million, $215.7million and $242.6million at June30, 2025, December31, 2024 and June30, 2024, respectively.Non-Traded InvestmentsThe Company has invested in U.S. affordable housing, historic renovation and other real estate investments (Non-Traded Investments) of the Accounting Standards Codification (ASC), the Non-Traded Investments are not consolidated.Under the Investments - Equity Method and Joint Ventures Topic of the ASC, the Company uses the proportional amortization method,whereby the initial cost and any subsequent changes in the level of investment of Non-Traded Investments is amortized in proportionto the receipt of related tax credits. The Company reasonably expects amortization based on the receipt of tax credits would produce a benefits are recorded as a reduction of Accrued taxes and a net deferred income tax asset within Deferred income taxes. On theStatements of Condensed Consolidated Cash Flows, the tax credits and other tax benefits are presented as a Change in working capitalaccounts - net and in Deferred income taxes within Operating activities. Tax credits and other tax benefits reduced Accrued taxes by$63.4million, $104.9million and $47.4million at June30, 2025, December31, 2024 and June30, 2024, respectively.The followingtable summarizes the balances related to Non-Traded Investments and related tax credits and other tax benefits on the Consolidated Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU enhances income tax disclosures by providing information tobetter assess how an entity’s operations, related tax risks, tax planning and operational opportunities affect its tax rate and prospects forfuture cash flows. This ASU requires additional disclosures to the annual effective tax rate reconciliation including