falsedesktopJHX2020-03-31000115915220000036{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\tPage(s)\nForm 20-F Cross-Reference Index\tii\nSection 1\t1\nIntroduction\t1\nSelected Financial Data\t1\nInformation on the Company\t4\nHistory and Development of the Company\t4\nBusiness Overview\t6\nOrganizational Structure\t14\nProperty Plants and Equipment\t15\nDirectors Senior Management and Employees\t19\nJames Hardie Executive Team\t19\nBoard of Directors\t24\nRemuneration\t30\nCorporate Governance Report\t47\nSection 2\t70\nReading this Report\t70\nManagement's Discussion and Analysis\t71\nConsolidated Financial Statements\t93\nNotes to Consolidated Financial Statements\t100\nRemuneration of Independent Registered Public Accounting Firm\t147\nSection 3\t148\nRisk Factors\t148\nLegal Proceedings\t167\nControls and Procedures\t169\nEmployees\t171\nListing Details\t171\nConstitution\t174\nMaterial Contracts\t181\nExchange Controls\t181\nTaxation\t182\nQuantitative and Qualitative Disclosures About Market Risk\t190\nSection 4\t193\nSHARE/CHESS Units of Foreign Securities Information\t193\nGlossary of Abbreviations and Definitions\t196\nExhibit List\t198\nSignatures\t204\n", "q10k_tbl_1": "\tPage(s)\nPART 1\t\nItem 1. Identity of Directors Senior Management and Advisers\tNot applicable\nItem 2. Offer Statistics and Expected Timetable\tNot applicable\nItem 3. Key Information\t\nA. Selected Financial Data\t1-3\nB. Capitalization and Indebtedness\tNot applicable\nC. Reasons for the Offer and Use of Proceeds\tNot applicable\nD. Risk Factors\t148-166\nItem 4. Information on the Company\t\nA. History and Development of the Company\t4-5; 17-18; 189\nB. Business Overview\t6-13\nC. Organizational Structure\t5; 14\nD. Property Plants and Equipment\t15-18; 89\nItem 4A. Unresolved Staff Comments\tNone\nItem 5. Operating and Financial Review and Prospects\t\nA. Operating Results\t77-86\nB. Liquidity and Capital Resources\t86-91\nC. Research and Development Patents and Licenses etc.\t12\nD. Trend Information\t91\nE. Off-Balance Sheet Arrangements\t91\nF. Tabular Disclosure of Contractual Obligations\t92\nG. Safe Harbor\t70-71\nItem 6. Directors Senior Management and Employees\t\nA. Directors and Senior Management\t19-29\nB. Compensation\t30-46\nC. Board Practices\t24-29; 47-69\nD. Employees\t171\nE. Share Ownership\t43-46\nItem 7. Major Shareholders and Related Party Transactions\t\nA. Major Shareholders\t193-195\nB. Related Party Transactions\t59\nC. Interests of Experts and Counsel\tNot Applicable\nItem 8. Financial Information\t\nA. Consolidated Statements and Other Financial Information\t93-146; 178-179\nB. Significant Changes\tNone\nItem 9. The Offer and Listing\t\nA. Offer and Listing Details\t171-173\nB. Plan of Distribution\tNot Applicable\nC. Markets\t172\nD. Selling Shareholders\tNot Applicable\n", "q10k_tbl_2": "PART 1 (continued)\t\nE. Dilution\tNot Applicable\nF. Expenses of the Issue\tNot Applicable\nItem 10. Additional Information\t\nA. Share Capital\tNot Applicable\nB. Memorandum and Articles of Association\t174-181\nC. Material Contracts\t181\nD. Exchange Controls\t181-182\nE. Taxation\t182-189\nF. Dividends and Paying Agents\tNot Applicable\nG. Statement by Experts\tNot Applicable\nH. Documents on Display\t189\nI. Subsidiary Information\tNot Applicable\nItem 11. Quantitative and Qualitative Disclosures About Market Risk\t190-192\nItem 12. Description of Securities Other Than Equity Securities\t\nA. Debt Securities\tNot Applicable\nB. Warrants and Rights\tNot Applicable\nC. Other Securities\tNot Applicable\nD. American Depositary Shares\t172-173\nPART II\t\nItem 13. Defaults Dividend Arrearages and Delinquencies\tNone\nItem 14. Material Modifications to the Rights of Security Holders and Use of Proceeds\tNone\nItem 15. Controls and Procedures\t169-170\nItem 16A. Audit Committee Financial Expert\t63\nItem 16B. Code of Ethics\t61-62\nItem 16C. Principal Accountant Fees and Services\t147\nItem 16D. Exemptions from the Listing Standards for Audit Committees\tNone\nItem 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers\tNone\nItem 16F. Change in Registrant's Certifying Accountant\tNone\nItem 16G. Corporate Governance\t47-69\nItem 16H. Mine Safety Disclosures\t16-17\nPART III\t\nItem 17. Financial Statements\tNot Applicable\nItem 18. Financial Statements\t93-146\nItem 19. Exhibits\t198-203\n", "q10k_tbl_3": "Consolidated Statement of Operations Data (Millions of US dollars)\t2020\t2019\t2018\t2017\t2016\nNet sales\t2606.8\t2506.6\t2054.5\t1921.6\t1728.2\nIncome from operations1\t241.5\t228.8\t146.1\t276.5\t244.4\nNet income1\t241.5\t228.8\t146.1\t276.5\t244.4\nConsolidated Balance Sheet Data (Millions of US dollars)\t2020\t2019\t2018\t2017\t2016\nTotal assets\t4028.3\t4032.6\t2351.0\t2012.7\t2029.4\nNet assets (liabilities)\t1035.3\t974.4\t(221.5)\t(212.2)\t(225.2)\nCommon stock\t230.6\t230.0\t229.5\t229.1\t231.4\nShares (Millions)\t2020\t2019\t2018\t2017\t2016\nBasic weighted average number of common shares\t442.6\t441.9\t441.2\t442.7\t445.3\nDiluted weighted average number of common shares\t444.1\t443.0\t442.3\t443.9\t447.2\nEarnings Per Share (US dollar)\t2020\t2019\t2018\t2017\t2016\nIncome from operations per common share - basic\t0.55\t0.52\t0.33\t0.62\t0.55\nNet income per common share - basic\t0.55\t0.52\t0.33\t0.62\t0.55\nIncome from operations per common share - diluted\t0.54\t0.52\t0.33\t0.62\t0.55\nNet income per common share - diluted\t0.54\t0.52\t0.33\t0.62\t0.55\nDividends declared per share\t0.36\t0.40\t0.38\t0.39\t0.58\nDividends paid per share\t0.36\t0.40\t0.38\t0.39\t0.58\n", "q10k_tbl_4": "Other Financial Data\t2020\t2019\t2018\t2017\t2016\nCash Flow (Millions of US dollars)\t\t\t\t\t\nNet cash provided by operating activities2\t451.2\t304.0\t308.5\t382.5\t222.9\nNet cash used in investing activities2\t(203.8)\t(864.4)\t(245.5)\t(109.0)\t(66.6)\nNet cash (used in) provided by financing activities\t(179.0)\t364.2\t60.6\t(210.0)\t(121.2)\nVolume (million square feet)\t\t\t\t\t\nNorth America Fiber Cement\t2481.6\t2308.1\t2238.8\t2215.4\t1969.2\nAsia Pacific Fiber Cement3\t532.6\t546.1\t494.7\t448.2\t449.6\nAsia Pacific Fiber Cement excluding4\t532.6\t546.1\t494.7\t448.2\t439.8\nEurope Building Products5\t827.5\t815.8\t34.0\t39.0\t31.3\nNet Sales (Millions of US dollars)\t\t\t\t\t\nNorth America Fiber Cement\t1816.4\t1676.9\t1578.1\t1493.4\t1335.0\nAsia Pacific Fiber Cement3\t418.4\t446.8\t425.4\t370.6\t341.9\nAsia Pacific Fiber Cement excluding4\t418.4\t446.8\t425.4\t370.6\t336.8\nEurope Building Products5\t371.4\t368.3\t36.3\t41.2\t37.5\nOther Businesses6\t0.6\t14.6\t14.7\t16.4\t13.8\nAverage sales price per unit (per thousand square feet)\t\t\t\t\t\nNorth America Fiber Cement\t725\t718\t698\t665\t669\nAsia Pacific Fiber Cement3\t700\t724\t762\t758\t709\nAsia Pacific Fiber Cement excluding4\t700\t724\t762\t758\t713\nEurope Building Products5\t345\t354\t950\t977\t986\n", "q10k_tbl_5": "\t(Millions of US dollars)\t\t\t\t\nOther Financial Data\t2020\t2019\t2018\t2017\t2016\nAsbestos adjustments (expense) benefit\t(58.2)\t(22.0)\t(156.4)\t40.4\t5.5\nAICF SG&A expenses\t(1.7)\t(1.5)\t(1.9)\t(1.5)\t(1.7)\nAICF interest income (expense)\t1.4\t2.0\t1.9\t(1.1)\t(0.3)\nLoss on early debt extinguishment\t0\t(1.0)\t(26.1)\t0\t0\nFermacell acquisition costs\t0\t0\t(10.0)\t0\t0\nAsset impairment charges and product line discontinuation expenses\t(84.4)\t(29.5)\t0\t0\t0\nNew Zealand weathertightness claims\t0\t0\t0\t0\t(0.5)\nTax adjustments\t31.6\t(19.7)\t47.3\t(9.9)\t(1.5)\n", "q10k_tbl_6": "\t(Millions of US dollars)\t\t\n\t2020\t2019\t2018\nNorth America Fiber Cement\t1816.4\t1676.9\t1578.1\nAsia Pacific Fiber Cement\t418.4\t446.8\t425.4\nEurope Building Products\t371.4\t368.3\t36.3\nOther Businesses1\t0.6\t14.6\t14.7\nTotal Net Sales\t2606.8\t2506.6\t2054.5\n", "q10k_tbl_7": "Plant Location\tOwned / Leased\tNameplate Capacity (mmsf)1\nUnited States fiber cement 2\t\t\nCleburne Texas\tOwned\t666\nPeru Illinois\tOwned\t560\nPlant City Florida\tOwned\t600\nPulaski Virginia\tOwned\t600\nReno Nevada\tOwned\t300\nTacoma Washington\tOwned\t500\nWaxahachie Texas\tOwned\t360\nFontana California\tOwned\t250\nSummerville South Carolina\tOwned 3\t190\nAsia Pacific fiber cement\t\t\nAustralia\t\t\nRosehill New South Wales\tOwned\t180\nCarole Park Queensland\tOwned 4\t160\nNew Zealand\t\t\nAuckland\tLeased 5\t75\nPhilippines\t\t\nCabuyao City\tOwned 6\t172\nEurope fiber gypsum\t\t\nMünchehof Germany\tOwned\t441\nOrejo Spain\tOwned\t275\nWijchen the Netherlands\tOwned\t273\nSiglingen Germany\tOwned 7\t154\nOther\t\t\nCalbe Germany\tOwned 8\t41\nSchraplau Germany\tOwned 9\tN/A\n", "q10k_tbl_8": "\t(Millions of US dollars)\t\t\n\t2020\t2019\t2018\nNorth America Fiber Cement\t137.1\t246.8\t182.5\nAsia Pacific Fiber Cement\t32.2\t41.1\t24.9\nEurope Building Products\t23.5\t26.0\t0\nOther Businesses\t0\t1.5\t2.0\nR&D and Corporate\t1.0\t2.1\t0.8\nTotal Capital Expenditures\t193.8\t317.5\t210.2\n", "q10k_tbl_9": "Project Description\tTotal Investment (US Millions)\tFiscal Year of Expenditure\nSummerville recommissioning\t15.7\tFY17 - FY18\nPhilippines capacity expansion\t18.0\tFY16 - FY19\nTacoma Greenfield expansion\t147.0\tFY17 - FY20\nCarole Park Brownfield expansion\t21.6\tFY19 - FY20\n", "q10k_tbl_10": "Jack Truong BS PhD Chief Executive Officer Age 57\nDr Jack G. Truong joined James Hardie as President of International Operations in April 2017. Dr Truong was announced Chief Executive Officer (\"CEO\") successor and appointed President and Chief Operating Officer with the responsibility of running the Company's global business in September 2018. He was officially appointed CEO in January 2019. Dr Truong's ability to anticipate global market trends and deliver profitable revenue growth is evidenced by his extensive multinational and multisector business experience. Prior to James Hardie Dr Truong was the President and Chief Executive Officer of leading home appliance manufacturer Electrolux North America Inc a $5+ billion revenue and 14000+ employee business at the time of his leadership.\nBefore joining Electrolux Dr Truong enjoyed a successful 22-year career at 3M Company where he held senior leadership roles throughout the United States Europe and Asia-Pacific including Vice President and General Manager of the Global Construction and Home Improvements Division and Global Office Supplies Division. As an engineer and inventor himself - earning his PhD in chemical engineering from the Rensselaer Polytechnic Institute in New York - Dr Truong is the recipient of 11 U.S. patents and several international patents. Dr Truong also enjoys giving time to philanthropic causes and professional industry associations receiving multiple accolades for his humanitarian work and business accomplishments.\n", "q10k_tbl_11": "Sean Gadd BEng MBA Executive Vice President North America Commercial Age 47\nSean Gadd joined James Hardie in 2004 as a Regional Engineering Manager for the Asia Pacific business and progressed to Plant Manager for both the Carole Park and Rosehill facilities in Australia. Mr Gadd then moved to the US in 2006 to take the role of Manufacturing Manager for Trim and various manufacturing facilities across the US. In 2009 Mr Gadd ran the US trim business for James Hardie with responsibility for both Manufacturing and Sales followed by a brief assignment leading Supply Chain. In 2012 Mr Gadd was promoted to the role of Vice President of Sales for Western USA and Canada. Over the next year his role was expanded to include the Midwest and Northeast of the USA.\nMr Gadd was appointed Executive General Manager in September 2013 with full responsibility for the Northern Division. In October 2015 he was appointed Executive Vice President Markets and Segments North America with responsibility for Strategic Marketing and Development. In December 2018 Mr Gadd was appointed Executive Vice President North America Commercial with responsibility for sales products segments and marketing. Mr Gadd has a Bachelor of Engineering in Manufacturing Management and an executive MBA from the Australian Graduate School of Management Australia.\n", "q10k_tbl_12": "Ryan Kilcullen BSc MS Executive Vice President - Operations Age 39\nRyan Kilcullen joined James Hardie in 2007 as a PcI/PdI Engineer. Since then he has worked for the Company in various manufacturing and supply chain roles including Process Engineer Production Manager and Supply Chain Engineer. In 2012 he became Supply Chain Manager ColorPlus® Business Unit responsible for the end-to-end design and performance of our ColorPlus® product line supply chain. In 2013 he became responsible for North American Supply Chain operations with responsibilities that included Procurement Network Planning Production Planning Transportation Distribution Management Customer Service and Inside Sales. In June 2015 he was appointed Vice President - Central Operations responsible for the Company's Supply Chain Operations and Centralized Manufacturing functions.\nIn August 2016 he was appointed Executive Vice President - Operations responsible for the Company's Supply Chain Manufacturing Engineering and Environmental Health & Safety Operations. Mr Kilcullen has a Bachelor of Science in Industrial Engineering from Rensselaer Polytechnic Institute and a Master of Engineering in Logistics from Massachusetts Institute of Technology.\n", "q10k_tbl_13": "Conrad Groenewald B.Tech MDP MBA General Manager Asia Pacific Age 47\nConrad Groenewald joined James Hardie in January 2015 as General Manager Asia Pacific. As General Manager for Asia Pacific based in Sydney Australia Mr Groenewald has responsibility for running the Company's business across Australia New Zealand the Philippines and the rest of SE Asia. Before joining James Hardie Mr Groenewald held senior executive roles with the shared services entity of NSW Health HealthShare NSW; initially as the Chief Operating Officer and then moving into the role of Chief Executive Officer. During his time in this role he was responsible for setting the strategic direction of HealthShare NSW while ensuring that the 7000 staff provided professional services to the NSW\nHealth department's back of the house services. After graduating in 1995 Mr Groenewald started his career as a Process Engineer at Mondi Paper (part of Anglo American Group) in South Africa. There he progressed through the business to Production Manager and eventually Operations Manager prior to emigrating to Australia in 2002. In Australia Mr Groenewald joined Visy Industries where he spent almost 10 years in Senior Operations Management roles across various divisions throughout Australia. Mr Groenewald has an MBA from The Open University UK an MDP Business Administration and Management from UNISA and has a Chemical Engineering qualification and Bachelor of Technology in Pulp and Paper from Durban University of Technology.\n", "q10k_tbl_14": "Jörg Brinkmann MS PhD General Manager Europe Age 41\nDr Jörg Brinkmann joined James Hardie as General Manager Europe in April 2018 as part of the Fermacell GmbH acquisition. In this role he is responsible for running the Company's European activities which are headquartered in Düsseldorf Germany. Before joining James Hardie Dr Brinkmann held several German as well as international leadership roles in Sales and Marketing at the Xella Group (the former owner of the Fermacell business) starting in 2005. In 2014 he was appointed CEO of the former Fermacell Company with responsibility for the entire business. Under his leadership the company achieved significant profitable growth.\nDr Brinkmann holds a Masters degree (\"Diplom-Kaufmann\") from the University of Duisburg-Essen as well as a PhD from the University of Hohenheim Germany.\n", "q10k_tbl_15": "Joe Blasko BSFS JD General Counsel and Chief Compliance Officer Age 53\nJoe Blasko joined James Hardie as General Counsel and Chief Compliance Officer in June 2011. Before joining James Hardie Mr Blasko was Assistant General Counsel and later the General Counsel at Liebert Corporation an Emerson Network Power Systems company and wholly-owned subsidiary of Emerson Electric Co. In his four years with Liebert/Emerson Mr Blasko was responsible for establishing the legal department in Columbus Ohio managing and overseeing all legal matters and working closely with the executive management team. In this role Mr Blasko also had global responsibilities which required expertise across multiple jurisdictions.\nFrom 2004 to 2006 Mr Blasko was Associate General Counsel at The Scotts Miracle-Gro Company serving as the effective \"general counsel\" to numerous corporate divisions within the organization. From 1997 to 2004 Mr Blasko gained considerable regulatory and litigation expertise working at Vorys Sater Seymour and Pease LLP in Ohio. Mr Blasko has a Juris Doctor from Case Western Reserve University in Cleveland Ohio USA and a Bachelor of Science in Foreign Service from Georgetown University USA with a specialty in International Relations Law and Organizations.\n", "q10k_tbl_16": "Michael Hammes BS MBA Age 78\nMichael Hammes was elected as an independent non-executive director of James Hardie in February 2007. He was appointed Chairman of the Board in January 2008 and is a member of the Remuneration Committee and the Nominating and Governance Committee. Experience: Mr Hammes has extensive commercial experience at a senior executive level. He has held a number of executive positions in the medical products hardware and home improvement and automobile sectors including CEO and Chairman of Sunrise Medical Inc. (2000-2007) Chairman and CEO of Guide Corporation (1998-2000) Chairman and CEO of Coleman Company Inc. (1993-1997) Vice Chairman of Black & Decker Corporation (1992-1993) and various senior executive\nroles with Chrysler Corporation (1986-1990) and Ford Motor Company (1966-1986). Directorships of listed companies in the past five years: Former - Director of Navistar International Corporation (1996-2017); Director of DynaVox Mayer-Johnson (2010-2016). Other: Resident of the United States. Last elected: August 2018 Term expires: August 2021\n", "q10k_tbl_17": "Brian Anderson BS MBA CPA Age 69\nBrian Anderson was appointed as an independent non-executive director of James Hardie in December 2006. He is Chairman of the Audit Committee and a member of the Remuneration Committee. Experience: Mr Anderson has extensive financial and business experience at both executive and board levels. He has held a variety of senior positions with thirteen years at Baxter International Inc. including Corporate Vice President of Finance Senior Vice President and CFO (1997-2004) and more recently Executive Vice President and CFO of OfficeMax Inc. (2004-2005). Earlier in his career Mr Anderson was an Audit Partner of Deloitte & Touche LLP (1986-1991).\nDirectorships of listed companies in the past five years: Current - Director of Stericycle Inc. (since 2017); Director of PulteGroup (since 2005); Director of W.W. Grainger Inc. (since 1999). Former - Chairman (2010-2016) and Director (2005-2016) of A.M. Castle & Co. Other: Member of the Governing Board of the Center for Audit Quality (since 2016); resident of the United States. Last elected: August 2017 Term expires: August 2020\n", "q10k_tbl_18": "Russell Chenu BCom MBA Age 70\nRussell Chenu was appointed as a non-executive director of James Hardie in August 2014. He is a member of the Remuneration Committee and the Nominating and Governance Committee. Experience: Mr Chenu joined James Hardie as Interim CFO in October 2004 and was appointed CFO in February 2005. He was elected to the Company's Managing Board at the 2005 Annual General Meeting re-elected in 2008 and continued as a member of the Managing Board until it was dissolved in June 2010. As CFO he was responsible for accounting treasury taxation corporate finance information technology and systems and procurement. Mr Chenu retired as CFO in November 2013.\nMr Chenu is an experienced corporate and finance professional who held senior finance and management positions with a number of Australian publicly-listed companies. In a number of these senior roles he was engaged in significant strategic business planning and business change including several turnarounds new market expansions and management leadership initiatives. Mr Chenu has a Bachelor of Commerce from the University of Melbourne and an MBA from Macquarie Graduate School of Management Australia. Directorships of listed companies in the past five years: Current - Director of Reliance Worldwide Corporation Limited (since 2016); Director of CIMIC Group Limited (since 2014); Director of Metro Performance Glass Limited (since 2014). Other: Resident of Australia. Last elected: August 2017 Term expires: August 2020\n", "q10k_tbl_19": "David D. Harrison BA MBA CMA Age 72\nDavid Harrison was appointed as an independent non-executive director of James Hardie in May 2008. He is Chairman of the Nominating and Governance Committee and a member of the Audit Committee. Experience: Mr Harrison is an experienced company director with a finance background having served in corporate finance roles international operations and information technology for 22 years with Borg Warner/General Electric Co. His previous experience includes 10 years at Pentair Inc. as Executive Vice President and CFO (1994-1996 and 2000-2007) and Vice President and CFO roles at Scotts Inc. and Coltec Industries Inc. (1996-2000).\nDirectorships of listed companies in the past five years: Current - Director of National Oilwell Varco (since 2003). Other: Resident of the United States. Last elected: August 2019 Term expires: August 2022\n", "q10k_tbl_20": "Andrea Gisle Joosen MSc BSc Age 56\nAndrea Gisle Joosen was appointed as an independent non-executive director of James Hardie in March 2015. She is a member of the Audit Committee. Experience: Ms Gisle Joosen is an experienced former executive with extensive experience in marketing brand management and business development across a range of different consumer businesses. Her former roles include Chief Executive of Boxer TV Access AB in Sweden and Managing Director (Nordic region) of Panasonic Chantelle AB and Twentieth Century Fox. Her early career involved several senior marketing roles with Procter & Gamble and Johnson & Johnson.\nDirectorships of listed companies in the past five years: Current - Director of BillerudKorsnas AB (since 2015); Director of Dixons Carphone plc (since 2014); Director of ICA Gruppen AB (since 2010). Former -Director of Mr Green AB (2015 - 2019). Other: Director of Logent AB (since December 2019); Director of Qred AB (since June 2019); Director of Acast AB (since 2018); Director of Neopitch AB (since 2004); resident of Sweden. Last elected: August 2018 Term expires: August 2021\n", "q10k_tbl_21": "Persio V. Lisboa BS Age 54\nPersio Lisboa was appointed as an independent non-executive director of James Hardie in February 2018. He is Chairman of the Remuneration Committee. Experience: Mr Lisboa has extensive senior executive experience. He currently serves as Executive Vice President & Chief Operating Officer at Navistar Inc. (Navistar) a leading manufacturer of commercial trucks buses defense vehicles and engines since March 2017. Prior to holding this position Mr Lisboa served as President Operations of Navistar from November 2014 to March 2017. Prior to that Mr Lisboa served as Senior Vice President Chief Procurement Officer of Navistar from December 2012 to November 2014 as Vice President Purchasing and Logistics and Chief Procurement Officer of Navistar from October 2011 to November 2012\nand as Vice President Purchasing and Logistics of Navistar from August 2008 to October 2011. Prior to these positions Mr Lisboa held various management positions within Navistar's North American and South American operations. Mr Lisboa began his career at Maxion International Motores Brasil followed by a move to International Engines Argentina S.A. and then to MWM-International South America.\nDirectorships of listed companies in the past five years: Former - Director of Broadwind Energy Inc. (2016-2018). Other: Resident of the United States. Last elected: August 2018 Term expires: August 2021\n", "q10k_tbl_22": "Anne Lloyd BS CPA Age 58\nAnne Lloyd was appointed as an independent non-executive director of James Hardie in November 2018. During fiscal year 2020 Ms Lloyd served as a member of the Audit Committee until 26 August 2019 at which time she stepped down from such position concurrent with her appointment as Interim CFO. Effective 26 August 2019 Ms Lloyd was appointed as Interim CFO a position she held until 25 February 2020. Experience: Ms Lloyd an experienced corporate and finance executive served as Chief Financial Officer of Martin Marietta Materials Inc. a leading supplier of aggregates and heavy building materials for over 12 years from June 2005 until her retirement in August 2017. She joined Martin Marietta in 1998 as Vice President and Controller and\nwas promoted to Chief Accounting Officer in 1999. She was subsequently appointed Treasurer (2006-2013) and promoted to Executive Vice President in 2009. Earlier in her career Ms Lloyd spent 14 years with Ernst & Young LLP (1984-1998) latterly as a senior manager and client service executive for the natural resources mining insurance and healthcare industries. Directorships of listed companies in the past five years: Current - Director of Insteel Industries Inc (since April 2019); Director of Highwoods Properties Inc. (since 2018). Former - Director of Terra Nitrogen Company L.P. (2009-2018). Other: Resident of the United States. Last elected: August 2019 Term expires: August 2022\n", "q10k_tbl_23": "Moe Nozari BA MS PhD and Postdoctoral Research Fellow Age 77\nDr Moe Nozari was appointed as an independent non-executive director of James Hardie in November 2019. He is a member of the Remuneration Committee and the Nominating and Governance Committee. Experience: Dr Nozari worked at 3M for thirty eight years. Latterly he served as an Executive Vice President of Consumer and Office Business at 3M Company from 2002 until his retirement from 3M in July 2009. Prior to that he served as an Executive Vice President of Consumer and Office Markets at 3M Company from 1999 to 2002 and served as its Group Vice President of Consumer and Office Markets Group from 1996 to 1999. Dr Nozari joined 3M in the Central Research Laboratories in 1971 and advanced to the position of Technical Director of the Photographic Products Division.\nAfter a succession of managerial and business responsibilities in 1986 he was named a Division Vice President then a Group Vice President in 1996. While at 3M his focus was on the development of new products brands identification and development of people. Other: Resident of the United States. Last elected: Dr Nozari will be standing for election at the August 2020 Annual General Meeting.\n", "q10k_tbl_24": "Rada Rodriguez MSc Age 61\nRada Rodriguez was appointed as an independent non-executive director of James Hardie in November 2018. She is a member of the Nominating and Governance Committee. Experience: Ms Rodriguez has served as Chief Executive Officer of Schneider Electric GmbH part of Schneider Electric Group a global energy management and automation company for 9 years and has been Senior Vice President Corporate Alliances since 2017. Since joining the company in 1999 she has held a progression of senior roles including Head of International Research and Development for Schneider Electric Sweden and Senior Vice President and Zone President Central and Eastern Europe.\nPrior to joining Schneider Electric GmbH she worked at Lexel Group (later acquired by Schneider) and before that she worked for 5 years at Colasit Scandinavia AB a Swiss industrial machinery manufacturer. She started her career with K-Konsult AB a Swedish technical consulting firm with a focus on installation technology where she worked for 5 years as a design engineer. Directorships of listed companies in the past five years: Former - Director of Eltel AB (2015-2017). Other: Director of Messe Berlin GmbH (since November 2019); Director of ZVEI (since 2014); resident of Germany. Last elected: August 2019 Term expires: August 2022\n", "q10k_tbl_25": "\tROCE RSUs\tTSR RSUs\tScorecard LTI Units\nJ Truong\t85064\t157949\t226636\nJ Miele\t13760\t23275\t41281\nS Gadd\t28779\t53117\t86337\nJ Blasko\t17987\t33198\t53961\nR Kilcullen\t14390\t26559\t43169\nM Marsh1\t0\t0\t0\n", "q10k_tbl_26": "(US dollars)\tPrimary\t\t\tPost- employment\tEquity Awards\t\tOther\tTOTAL\nName\tBase Pay1\tSTI Award2\tOther Benefits3\t401(k)\tOngoing Vesting 4\tMark-to Market5\tRelocation Allowances and Other Nonrecurring6\nJ Truong7\t\t\t\t\t\t\t\t\nFiscal Year 2020\t800000\t2160000\t75038\t17366\t3329423\t(316615)\t3051\t6068263\nFiscal Year 2019\t679396\t949362\t46902\t17226\t1412235\t(337627)\t30528\t2798022\nJ Miele\t\t\t\t\t\t\t\t\nFiscal Year 2020\t292840\t269233\t39384\t18076\t255805\t(3427)\t382089\t1254000\nS Gadd\t\t\t\t\t\t\t\t\nFiscal Year 2020\t558038\t747252\t35249\t18230\t1347237\t(29332)\t0\t2676674\nFiscal Year 2019\t525289\t373200\t47548\t17210\t1389526\t(467763)\t100000\t1985010\nJ Blasko\t\t\t\t\t\t\t\t\nFiscal Year 2020\t447347\t489117\t54088\t17012\t568651\t11022\t0\t1587237\nFiscal Year 2019\t434317\t321484\t59065\t16677\t688153\t(240355)\t0\t1279341\nR Kilcullen\t\t\t\t\t\t\t\t\nFiscal Year 2020\t371038\t476898\t26046\t18022\t552189\t(11661)\t0\t1432532\nM Marsh8\t\t\t\t\t\t\t\t\nFiscal Year 2020\t317908\t0\t22531\t8077\t(1662015)\t187311\t382804\t(743384)\nFiscal Year 2019\t621923\t578340\t77524\t16915\t2158119\t(731729)\t0\t2721092\nTOTAL\t\t\t\t\t\t\t\t\nFiscal Year 2020\t2787171\t4142500\t252336\t96783\t4391290\t(162702)\t767944\t12275322\nFiscal Year 2019\t2260925\t2222386\t231039\t68028\t5648033\t(1777474)\t130528\t8783465\n", "q10k_tbl_27": "Position\tFiscal Year 2020 (US$)\nChairman\t420794\nBoard member\t205734\nAudit Committee Chair\t20000\nRemuneration Committee Chair\t20000\nNominating & Governance Committee Chair\t20000\nAd-hoc Board sub-committee attendance1\t3000\n", "q10k_tbl_28": "(US dollars)\t\t\t\t\nName\tPrimary Directors' Fees1\tOther Payments2\tOther Benefits3\tTOTAL\nM Hammes\t\t\t\t\nFiscal Year 2020\t429794\t634231\t30762\t1094787\nFiscal Year 2019\t426794\t447059\t30509\t904362\nB Anderson\t\t\t\t\nFiscal Year 2020\t225734\t0\t30516\t256250\nFiscal Year 2019\t231734\t0\t14332\t246066\nD Harrison\t\t\t\t\nFiscal Year 2020\t228734\t168533\t27002\t424269\nFiscal Year 2019\t220734\t0\t23673\t244407\nA Littley\t\t\t\t\nFiscal Year 2020\t76796\t0\t487\t77283\nFiscal Year 2019\t214734\t0\t0\t214734\nR van der Meer\t\t\t\t\nFiscal Year 2020\t73796\t0\t781\t74577\nFiscal Year 2019\t210734\t0\t0\t210734\nR Chenu4\t\t\t\t\nFiscal Year 2020\t208734\t0\t1811\t210545\nFiscal Year 2019\t211734\t0\t0\t211734\nA Gisle Joosen\t\t\t\t\nFiscal Year 2020\t208734\t0\t16621\t225355\nFiscal Year 2019\t214734\t0\t0\t214734\nS Simms\t\t\t\t\nFiscal Year 2020\t0\t0\t0\t0\nFiscal Year 2019\t92558\t0\t0\t92558\nP Lisboa\t\t\t\t\nFiscal Year 2020\t225734\t0\t27441\t253175\nFiscal Year 2019\t223799\t0\t0\t223799\nA Lloyd\t\t\t\t\nFiscal Year 2020\t205734\t511305\t34337\t751376\nFiscal Year 2019\t83859\t0\t0\t83859\nR Rodriguez\t\t\t\t\nFiscal Year 2020\t211734\t0\t20680\t232414\nFiscal Year 2019\t78827\t0\t0\t78827\nM Nozari\t\t\t\t\nFiscal Year 2020\t80417\t0\t22248\t102665\nFiscal Year 2019\t0\t0\t0\t0\nTotal Compensation for Non-Executive Directors\t\t\t\t\nFiscal Year 2020\t2175941\t1314069\t212686\t3702696\nFiscal Year 2019\t2210241\t447059\t68514\t2725814\n", "q10k_tbl_29": "\tYears Ended 31 March\t\n(In US dollars)\t2020\t2019\nManagerial Services1\t5862529\t6292737\nDirector Services2\t3908420\t2725814\n\t9770949\t9018551\n", "q10k_tbl_30": "Name\tCUFS at 30 April 2020\tCUFS at 30 April 2019\tRSUs at 30 April 2020\tRSUs at 30 April 2019\nJ Truong\t0\t0\t596682\t353668\nJ Miele\t18592\t12494\t73735\t47301\nS Gadd\t67928\t55101\t326154\t325314\nJ Blasko\t64861\t52213\t157352\t159581\nR Kilcullen\t0\t0\t127744\t112587\n", "q10k_tbl_31": "Name\tCUFS at 30 April 2020\tCUFS at 30 April 2019\nM Hammes 1\t44109\t44109\nB Anderson 2\t18920\t18920\nR Chenu\t105518\t105518\nA Gisle Joosen\t3920\t3420\nD Harrison 3\t19259\t19259\nP Lisboa 4\t2389\t2389\nA Lloyd 5\t18000\t18000\nM Nozari 6\t1000\t0\nR Rodriguez\t0\t0\n", "q10k_tbl_32": "Restricted Stock Units\t\t\t\t\nGrant Type\tGrant Date\tGranted\tVested as of 31 March 2020\tOutstanding as of 31 March 2020\nTSR\tSeptember 2016\t456819\t156343\t191866\nTSR\tAugust 2017\t685490\t0\t519756\nROCE\tAugust 2017\t378809\t0\t287222\nTSR - Retention\tAugust 2017\t246903\t0\t127772\nROCE - Retention\tAugust 2017\t136440\t0\t70607\nTSR\tAugust 2018\t663738\t0\t465368\nROCE\tAugust 2018\t357797\t0\t250862\nTSR\tSeptember 2018\t49381\t0\t49381\nROCE\tSeptember 2018\t25385\t0\t25385\nTSR\tAugust 2019\t496497\t0\t416821\nROCE\tAugust 2019\t268491\t0\t225322\nTSR\tFebruary 2020\t6676\t0\t6676\nROCE\tFebruary 2020\t4767\t0\t4767\n\t\tTotal Outstanding\t\t2641805\n", "q10k_tbl_33": "Scorecard LTI\t\t\nGrant Type\tGrant Date\tGranted and Outstanding as of 31 March 2020\nScorecard\tAugust 2017\t861666\nScorecard - Retention\tAugust 2017\t211825\nScorecard\tAugust 2018\t752591\nScorecard\tSeptember 2018\t76155\nScorecard\tJanuary 2019\t28558\nScorecard\tAugust 2019\t647410\nScorecard\tFebruary 2020\t14301\n\t\t2592506\n", "q10k_tbl_34": "Restricted Stock Units\t\t\t\nGrant Date\tGranted\tVested as of 31 March 2020\tOutstanding as of 31 March 2020\nDecember 2016\t297388\t222939\t0\nDecember 2017\t320909\t138002\t116791\nFebruary 2018\t3926\t1640\t1315\nDecember 2018\t545185\t121471\t335887\nMarch 2019\t72608\t17986\t48505\nJune 2019\t23486\t5872\t17614\nDecember 2019\t520\t0\t520\n\tTotal Outstanding\t\t520632\n", "q10k_tbl_35": "\tBoard\t\tAudit\t\t\tRemuneration\t\t\tNominating & Governance\t\t\nName\tH\tA\tMember\tH\tA\tMember\tH\tA\tMember\tH\tA\nM Hammes\t4\t4\t\t\t\t0\t4\t4\t0\t4\t4\nB Anderson\t4\t4\tC\t4\t4\t0\t4\t3\t\t\t\nR Chenu\t4\t4\t\t\t\t0\t4\t4\t0\t4\t4\nD Harrison\t4\t4\t0\t4\t4\t\t\t\tC\t4\t4\nA Gisle Joosen\t4\t4\t0\t4\t4\t\t\t\t\t\t\nP Lisboa\t4\t4\t\t\t\tC\t4\t4\t\t\t\nA Littley\t2\t2\t0\t2\t2\t0\t2\t2\t\t\t\nA Lloyd\t4\t4\t0\t2\t2\t\t\t\t\t\t\nM Nozari\t2\t2\t\t\t\t0\t1\t1\t0\t1\t1\nR Rodriguez\t4\t4\t\t\t\t\t\t\t0\t4\t3\nR van der Meer\t2\t2\t\t\t\t\t\t\t0\t2\t2\n", "q10k_tbl_36": "Level\tPercentage of female employees\tPercentage of employees with diversity characteristics\nJames Hardie Board1\t33% (3 of 9)\t67% (6 of 9)\nUS BUSINESS 2\t\t\nSenior leadership positions3\t15% (25 of 164)\t29% (47 of 164)\nAll management positions\t15% (65 of 429)\t28% (120 of 429)\nTotal workforce\t12% (342 of 2760)\t38% (1054 of 2760)\nNON-US BUSINESSES 4\t\t\nSenior leadership positions3\t23% (12 of 52)\t\nAll management positions\t16% (46 of 291)\t\nTotal workforce\t16% (335 of 2073)\t\n", "q10k_tbl_37": "Objectives\tFY20 Actions and Outcomes\tFY21 Plans\nTo promote a culture of diversity and inclusion (which includes ethnicity gender skills experience and other elements that reflect a broad representation of individuals with various backgrounds).\t- Continued tradition of holding global events for Lunar / Chinese New Year Diwali Waitangi Day and several other culturally significant holidays to celebrate the diverse backgrounds of our people. - International Women's Day events and recognition occurred across all of the Asia-Pacific region during March 2020 as well as in other locations located in North America and Europe. - Results of Asia-Pacific culture survey were analyzed to identify differences across gender and diversity. - Established a Diversity and Inclusion Committee in New Zealand to develop specific initiatives across the region.\t- Global initiatives including development of a global diversity and inclusion strategy and program launch. Objectives are to align and refine our culture define employee value proposition grow and develop talent and improve our hiring processes. - A global employee engagement survey will be launched and results reviewed with eye towards development of programs and initiatives to improve engagement and further develop a more diverse and inclusive global workforce. - Asia-Pacific region will be developing further initiatives and programs to create a more inclusive work environment including cultural intelligence and unconscious bias training reviewing all workplaces to ensure they cater to diverse workforces (i.e. break restroom religious and nursing mother facilities) and expansion of diversity and inclusion committees to major sites.\nTo ensure that recruitment and selection processes are based on merit.\t- Globally created and leveraged recruitment videos highlighting a diverse workforce which are now being shared externally as a recruitment tool. - Continued showcasing diverse talent on LinkedIn to attract more diverse talent into the organization. - Results for North America's Engineering Development Program (EDP) recruits 6 out of 11 (55%) hires were either women or have diversity characteristics. - As of the end of FY20 total new hires in North America were 17% female with 7 out of 35 (20%) open Leadership roles filled by women. - In APAC included a requirement for our agency panel participants to have a diverse and balanced shortlist for all roles in their service contract. - Hired females to fill three critical leadership roles (Finance Operations HR) in Europe and one (R&D) in North America.\t- Recruitment of diverse candidates for management roles will continue to be a focus across all global locations. Specifically strengthen the focus on diversity in the recruiting process for sales in Europe. - We plan to continue the EDP initiative and maintain or enhance the diversity characteristics of the program participants we recruit and hire. - Partner with WORK180 in Australia and become an endorsed employer for women.\nTo provide talent management and development opportunities which provide equal opportunities for all current employees.\t- In North America we ran two cohorts of employees through our Leadership Fundamentals program in FY20 which were intended to provide our new leaders with the skills to build and manage high-performing and diverse teams. 32% of our Leadership Fundamentals attendees in FY20 were women (12 of 38 attendees). - Launched the Women's Initiative Network group in North America to build cross-functional networks among women in leadership roles. Meetings are held regularly with presenters from both inside and outside of the Company. - In Australia members of the management team participated in a women's mentoring program as mentors and mentees.\t- Roll out global talent and organizational review processes to identify strengths gaps and future succession. - Introduce global goal setting and development planning to align individual objectives with global business strategy and to further develop a diverse workforce.\nTo reward and remunerate employees fairly across the globe.\t- Conducted the annual employee wage benchmarking study to ensure remuneration is aligned with the Company remuneration philosophy. The study again included all corporate and plant locations. - The Workplace Gender Equality Act (WGEA) report is submitted to the Australian government on an annual basis. The WGEA confirmed that JH Australia is compliant with the Workplace Gender Equality Act 2012 (Act). The analysis was extended across the Asia-Pacific region in FY20. - Healthcare programs introduced for disabled employees in Europe.\t- Review evaluate and propose updated salary compensation structure to ensure alignment with market. - Conduct global benefits review to better understand our global population's preferences and needs. - Will continue to conduct the WGEA gender pay review and analysis across the entire Asia-Pacific region to identify any gender pay gaps. Management will then establish an action plan to address identified opportunities to close the gaps.\n", "q10k_tbl_38": "Director\tBoard tenure\tIndependence\nMichael Hammes\t7 February 2007\tIndependent non-executive Chair\nJack Truong\t31 January 2019\tChief Executive Officer Executive director\nBrian Anderson\t14 December 2006\tIndependent non-executive director\nDavid Harrison\t19 May 2008\tIndependent non-executive director\nRussell Chenu\t15 August 2014\tIndependent non-executive director\nAndrea Gisle Joosen\t20 March 2015\tIndependent non-executive director\nPersio Lisboa\t2 February 2018\tIndependent non-executive director\nAnne Lloyd\t4 November 2018\tIndependent non-executive director\nRada Rodriguez\t13 November 2018\tIndependent non-executive director\nMoe Nozari\t6 November 2019\tIndependent non-executive director\n", "q10k_tbl_39": "Director\tCommittee tenure\tIndependence\nDavid Harrison - Committee Chair\t1 July 2018\tIndependent non-executive director\nMichael Hammes\t16 November 2009\tIndependent non-executive Chair\nRussell Chenu\t13 August 2015\tIndependent non-executive director\nRada Rodriguez\t13 November 2018\tIndependent non-executive director\nMoe Nozari\t7 February 2020\tIndependent non-executive director\n", "q10k_tbl_40": "Director\tCommittee tenure\tIndependence\nBrian Anderson - Committee Chair\t14 December 2006; Chair since 20 February 2007\tIndependent non-executive director\nAndrea Gisle Joosen\t20 March 2015\tIndependent non-executive director\nDavid Harrison\t18 August 2008\tIndependent non-executive director\n", "q10k_tbl_41": "Director\tCommittee tenure\tIndependence\nPersio Lisboa - Committee Chair\t9 August 2018; Chair since 24 August 2018\tIndependent non-executive director\nBrian Anderson\t8 February 2009\tIndependent non-executive director\nMichael Hammes\t16 November 2009\tIndependent non-executive Chair\nRussell Chenu\t15 August 2014\tIndependent non-executive director\nMoe Nozari\t7 February 2020\tIndependent non-executive director\n", "q10k_tbl_42": "US$ Millions\tFY20\tFY19\tChange %\nNet sales\t2606.8\t2506.6\t4\nCost of goods sold\t(1673.1)\t(1675.6)\t0\nGross profit\t933.7\t831.0\t12\nSelling general and administrative expenses\t(415.8)\t(403.6)\t(3)\nResearch and development expenses\t(32.8)\t(37.9)\t13\nAsset impairments\t(84.4)\t(15.9)\t\nAsbestos adjustments\t(58.2)\t(22.0)\t\nOperating income\t342.5\t351.6\t(3)\nNet interest expense\t(54.4)\t(50.1)\t(9)\nLoss on early debt extinguishment\t0\t(1.0)\t\nOther (expense) income\t(0.1)\t0.1\t\nIncome before income taxes\t288.0\t300.6\t(4)\nIncome tax expense\t(46.5)\t(71.8)\t35\nNet income\t241.5\t228.8\t6\n", "q10k_tbl_43": "US$ Millions unless otherwise noted\tFY20\tFY19\tChange\nVolume (mmsf)\t2481.6\t2308.1\t8%\nAverage net sales price per unit (per msf)\tUS$725\tUS$718\t1%\nFiber cement net sales\t1816.4\t1676.9\t8%\nGross profit\t\t\t17%\nGross margin (%)\t\t\t2.8 pts\nOperating income\t429.3\t382.5\t12%\nOperating income margin (%)\t23.6\t22.8\t0.8 pts\nAsset impairment charges and product line discontinuation expenses\t41.2\t5.4\t\nOperating income excluding1\t470.5\t387.9\t21%\nOperating income margin (%) excluding1\t25.9\t23.1\t2.8 pts\n", "q10k_tbl_44": "US$ Millions unless otherwise noted\tFY20\tFY19\tChange\t\nVolume (mmsf)\t532.6\t546.1\t(2\t%)\nAverage net sales price per unit (per msf)\tUS$700\tUS$724\t(3\t%)\nFiber cement net sales\t418.4\t446.8\t(6\t%)\nGross profit\t\t\t(5\t%)\nGross margin (%)\t\t\t0.3 pts\t\nOperating income\t58.5\t99.8\t(41\t%)\nOperating income margin (%)\t14.0\t22.3\t(8.3 pts)\t\nAsset impairment charges\t36.3\t0\t\t\nOperating income excluding1\t94.8\t99.8\t(5\t%)\nOperating income margin (%) excluding1\t22.7\t22.3\t0.4 pts\t\n", "q10k_tbl_45": "A$ Millions unless otherwise noted\tFY20\tFY19\tChange\t\nVolume (mmsf)\t532.6\t546.1\t(2\t%)\nAverage net sales price per unit (per msf)\tA$1027\tA$992\t4%\t\nFiber cement net sales\t614.1\t612.2\t-%\t\nGross profit\t\t\t1%\t\nGross margin (%)\t\t\t0.3\tpts\nOperating income\t80.8\t136.5\t(41\t%)\nOperating income margin (%)\t14.0\t22.3\t(8.3 pts)\t\nAsset impairment charges\t58.3\t0\t\t\nOperating income excluding1\t139.1\t136.5\t2%\t\nOperating income margin (%) excluding1\t22.7\t22.3\t0.4\tpts\n", "q10k_tbl_46": "US$ Millions unless otherwise noted\tFY20\tFY19\tChange\t\nVolume (mmsf)\t827.5\t815.8\t1%\t\nAverage net sales price per unit (per msf)\tUS$345\tUS$354\t(3\t%)\nFiber cement net sales\t48.0\t35.8\t34%\t\nFiber gypsum net sales1\t323.4\t332.5\t(3\t%)\nNet sales\t371.4\t368.3\t1%\t\nGross profit\t\t\t(1\t%)\nGross margin (%)\t\t\t(0.5 pts)\t\nOperating income\t11.2\t10.0\t12%\t\nOperating income margin (%)\t3.0\t2.7\t0.3 pts\t\nAsset impairment charges\t5.5\t0\t\t\nCosts associated with the Fermacell acquisition\t13.7\t29.1\t(53\t%)\nOperating income excluding2\t30.4\t39.1\t(22\t%)\nOperating income margin (%) excluding2\t8.2\t10.6\t(2.4 pts)\t\n", "q10k_tbl_47": "€ Millions unless otherwise noted\tFY20\tFY19\tChange\t\nVolume (mmsf)\t827.5\t815.8\t1%\t\nAverage net sales price per unit (per msf)\t€311\t€306\t2%\t\nFiber cement net sales\t43.3\t32.8\t32%\t\nFiber gypsum net sales1\t290.9\t285.2\t2%\t\nNet sales\t334.2\t318.0\t5%\t\nGross profit\t\t\t3%\t\nGross margin (%)\t\t\t(0.5 pts)\t\nOperating income\t10.0\t9.1\t10%\t\nOperating income margin (%)\t3.0\t2.7\t0.3\tpts\nAsset impairment charges\t4.9\t0\t\t\nCosts associated with the Fermacell acquisition\t12.3\t24.6\t(50\t%)\nOperating income excluding2\t27.2\t33.7\t(19\t%)\nOperating income margin (%) excluding2\t8.2\t10.6\t(2.4 pts)\t\n", "q10k_tbl_48": "US$ Millions\tFY20\tFY19\tChange %\nSegment R&D expenses\t(24.0)\t(26.7)\t10\nSegment R&D SG&A expenses\t(3.0)\t(2.3)\t(30)\nTotal R&D operating loss\t(27.0)\t(29.0)\t7\n", "q10k_tbl_49": "US$ Millions\tFY20\tFY19\tChange %\nGeneral Corporate SG&A expenses\t(68.2)\t(57.3)\t(19)\nAsbestos:\t\t\t\nAsbestos adjustments\t(58.2)\t(22.0)\t\nAICF SG&A expenses1\t(1.7)\t(1.5)\t(13)\nAsset impairment charges\t(1.4)\t0\t\nGeneral Corporate operating loss\t(129.5)\t(80.8)\t(60)\n", "q10k_tbl_50": "FY20\t\tFY19\t\n31 March 2019\t0.7096\t31 March 2018\t0.7681\n31 March 2020\t0.6177\t31 March 2019\t0.7096\nChange ($)\t(0.0919)\tChange ($)\t(0.0585)\nChange (%)\t(13)\tChange (%)\t(8)\n", "q10k_tbl_51": "US$ Millions\tFY20\tFY19\nIncrease in actuarial estimate\t(128.0)\t(72.7)\nEffect of foreign exchange rate movements\t69.0\t49.5\nGain (loss) on foreign currency forward contracts\t0.8\t(0.8)\nAdjustments in insurance receivable\t0\t2.0\nAsbestos adjustments\t(58.2)\t(22.0)\n", "q10k_tbl_52": "FY20\t\tFY19\tChange %\nClaims received\t657\t568\t(16)\nActuarial estimate for the period\t564\t576\t2\nDifference in claims received to actuarial estimate\t(93)\t8\t\nAverage claim settlement1 (A$)\t277000\t262000\t(6)\nActuarial estimate for the period2\t306000\t290000\t(6)\nDifference in claims paid to actuarial estimate\t29000\t28000\t\n", "q10k_tbl_53": "\tUS Cents/ Security\tTotal US$ (millions)\tAnnouncement Date\tRecord Date\tPayment Date\nFY 2020 first half dividend1\t0.10\t44.7\t7 November 2019\t18 November 2019\t20 December 2019\nFY 2019 second half dividend\t0.26\t113.9\t21 May 2019\t6 June 2019\t2 August 2019\nFY 2019 first half dividend\t0.10\t43.6\t8 November 2018\t12 December 2018\t22 February 2019\nFY 2018 second half dividend\t0.30\t128.5\t22 May 2018\t7 June 2018\t3 August 2018\nFY 2018 first half dividend\t0.10\t46.2\t9 November 2017\t13 December 2017\t23 February 2018\nFY 2017 second half dividend\t0.28\t131.3\t18 May 2017\t8 June 2017\t4 August 2017\n", "q10k_tbl_54": "Payments Due During Fiscal Year Ending 31 March\t\t\t\t\t\nUS$ Millions\tTotal\tless than 1 year\t1 - 3 years\t3 - 5 years\tmore than 5 years\nAsbestos Liability1\t986.4\t153.3\tN/A\tN/A\tN/A\nLong-Term Debt Obligations2\t1370.7\t0\t130.0\t400.0\t840.7\nEstimated interest payments on Long-Term Debt3\t322.4\t60.3\t119.3\t106.8\t36.0\nFinance Lease Obligations4\t2.2\t0.6\t1.0\t0.5\t0.1\nOperating Lease Obligations4\t58.9\t16.7\t22.3\t11.1\t8.8\nPurchase Commitments5\t9.9\t0.9\t0.8\t0.8\t7.4\nCapital Commitments6\t10.4\t10.4\t0\t0\t0\nTotal\t2760.9\t242.2\t273.4\t519.2\t893.0\n", "q10k_tbl_55": "\tPage\nReport of Independent Registered Public Accounting Firm\t94\nConsolidated Balance Sheets as of 31 March 2020 and 2019\t96\nConsolidated Statements of Operations and Comprehensive Income for the Fiscal Years Ended 31 March 2020 2019 and 2018\t97\nConsolidated Statements of Cash Flows for the Fiscal Years Ended 31 March 2020 2019 and 2018\t98\nConsolidated Statements of Changes in Shareholders' Equity (Deficit) for the Fiscal Years Ended 31 March 2020 2019 and 2018\t99\nNotes to Consolidated Financial Statements\t100\n", "q10k_tbl_56": "\tAsbestos Liability Valuation\nDescription of the Matter\tAt 31 March 2020 the aggregate asbestos liability was US$986.4 million. As disclosed in Note 13 to the consolidated financial statements the liability relates to an agreement to provide long-term funding to the Asbestos Injuries Compensation Fund (\"AICF\") a special purpose fund established to provide compensation of proven Australian-related personal injuries. Auditing management's estimate of the asbestos liability is challenging because the estimation process is based on actuarial estimates of projected future cash flows which are inherently uncertain. The projected cash flows are complex and use subjective assumptions including the projected number of claims estimated cost of settlement per claim inflation rates legal costs and timing of receipt of claims and settlements.\nHow We Addressed the Matter in Our Audit\tWe obtained an understanding evaluated the design and tested the operating effectiveness of the Company's internal controls over the identification of claims review of calculations performed by the Company's third-party actuary and management's review of the use of historical claim data and actuarial assumptions mentioned above to project the future liability. To evaluate the estimate of the asbestos liability our audit procedures included among others testing the underlying claims data used in the calculation to internal and external data on a sample basis. We involved our actuarial specialists to assist in evaluating the methodologies and key assumptions mentioned above to independently develop a range for the asbestos liability and compare that range to management's recorded liability. We also assessed the adequacy of the related disclosures in the Company's consolidated financial statements.\n\tImpairment of Long-lived Assets\nDescription of the Matter\tFor the year ended 31 March 2020 the Company recorded an US$84.4 million impairment expense primarily related to property plant and equipment operating lease right-of-use assets and asset retirement obligations as disclosed in Notes 8 9 and 19. As disclosed in Note 2 to the consolidated financial statements the Company evaluates events or changes in circumstances that indicate that an asset might be impaired. When such indicators are identified the recoverability test is performed by grouping long-lived assets that represent the lowest level of identifiable cash flows and the undiscounted future cash flows are compared to the carrying amount of the asset group.\n\tAuditing the Company's impairment assessments involved a high degree of subjectivity as estimates underlying the determination of fair value were based on assumptions about future market and economic conditions long-term demand for the Company's products and the discount rate.\nHow We Addressed the Matter in Our Audit\tWe obtained an understanding evaluated the design and tested the operating effectiveness of controls over the long-lived asset impairment processes including identification of indicators of impairment and controls over management's review of the significant assumptions underlying the fair value determination.\n\tTo test the long-lived asset impairment assessments our audit procedures included among others evaluating the methodologies used and significant assumptions discussed above as well as the underlying data used by the Company in determining fair value. With the assistance of our valuation specialists we tested the Company's determination of fair value of certain land building equipment including salvage values and asset retirement obligations by evaluating comparable market data and independently developing a range of fair values. We also assessed the adequacy of the related disclosures in the Company's consolidated financial statements.\n", "q10k_tbl_57": "(Millions of US dollars)\t31 March 2020\t31 March 2019\nAssets\t\t\nCurrent assets:\t\t\nCash and cash equivalents\t144.4\t78.7\nRestricted cash and cash equivalents\t5.0\t5.1\nRestricted cash and cash equivalents - Asbestos\t36.4\t39.8\nRestricted short-term investments - Asbestos\t21.6\t17.7\nAccounts and other receivables net\t363.3\t254.6\nInventories\t305.1\t317.4\nPrepaid expenses and other current assets\t26.1\t31.3\nInsurance receivable - Asbestos\t5.0\t7.5\nWorkers' compensation - Asbestos\t1.5\t2.0\nTotal current assets\t908.4\t754.1\nProperty plant and equipment net\t1341.7\t1388.4\nOperating lease right-of-use-assets\t40.5\t0\nFinance lease right-of-use-assets\t1.7\t0\nGoodwill\t196.9\t201.1\nIntangible assets net\t166.7\t174.4\nInsurance receivable - Asbestos\t38.5\t43.7\nWorkers' compensation - Asbestos\t20.7\t25.8\nDeferred income taxes\t989.4\t1092.9\nDeferred income taxes - Asbestos\t319.1\t349.3\nOther assets\t4.7\t2.9\nTotal assets\t4028.3\t4032.6\nLiabilities and Shareholders' Equity\t\t\nCurrent liabilities:\t\t\nAccounts payable and accrued liabilities\t274.7\t255.5\nAccrued payroll and employee benefits\t87.1\t84.9\nOperating lease liabilities\t14.3\t0\nFinance lease liabilities\t0.5\t0\nAccrued product warranties\t7.0\t6.8\nIncome taxes payable\t8.9\t13.4\nAsbestos liability\t103.9\t110.5\nWorkers' compensation - Asbestos\t1.5\t2.0\nOther liabilities\t12.1\t9.9\nTotal current liabilities\t510.0\t483.0\nLong-term debt\t1354.6\t1380.3\nDeferred income taxes\t81.9\t80.4\nOperating lease liabilities\t41.4\t0\nFinance lease liabilities\t1.5\t0\nAccrued product warranties\t35.4\t39.8\nIncome taxes payable\t21.3\t25.2\nAsbestos liability\t882.5\t979.1\nWorkers' compensation - Asbestos\t20.7\t25.8\nOther liabilities\t43.7\t44.6\nTotal liabilities\t2993.0\t3058.2\nCommitments and contingencies (Note 15)\t\t\nShareholders' equity:\t\t\nCommon stock Euro 0.59 par value 2.0 billion shares authorized; 443144740 shares issued and outstanding at 31 March 2020 and 442269905 shares issued and outstanding at 31 March 2019\t230.6\t230.0\nAdditional paid-in capital\t207.3\t197.6\nRetained earnings\t659.5\t577.1\nAccumulated other comprehensive loss\t(62.1)\t(30.3)\nTotal shareholders' equity\t1035.3\t974.4\nTotal liabilities and shareholders' equity\t4028.3\t4032.6\n", "q10k_tbl_58": "\tYears Ended 31 March\t\t\n(Millions of US dollars except per share data)\t2020\t2019\t2018\nNet sales\t2606.8\t2506.6\t2054.5\nCost of goods sold\t(1673.1)\t(1675.6)\t(1324.3)\nGross profit\t933.7\t831.0\t730.2\nSelling general and administrative expenses\t(415.8)\t(403.6)\t(311.3)\nResearch and development expenses\t(32.8)\t(37.9)\t(33.3)\nAsset impairments\t(84.4)\t(15.9)\t0\nAsbestos adjustments\t(58.2)\t(22.0)\t(156.4)\nOperating income\t342.5\t351.6\t229.2\nInterest expense net\t(57.5)\t(54.2)\t(32.9)\nInterest income\t3.1\t4.1\t3.4\nLoss on early debt extinguishment\t0\t(1.0)\t(26.1)\nOther (expense) income\t(0.1)\t0.1\t0.7\nIncome before income taxes\t288.0\t300.6\t174.3\nIncome tax expense\t(46.5)\t(71.8)\t(28.2)\nNet income\t241.5\t228.8\t146.1\nIncome per share:\t\t\t\nBasic\t0.55\t0.52\t0.33\nDiluted\t0.54\t0.52\t0.33\nWeighted average common shares outstanding (Millions):\t\t\t\nBasic\t442.6\t441.9\t441.2\nDiluted\t444.1\t443.0\t442.3\nComprehensive income net of tax:\t\t\t\nNet income\t241.5\t228.8\t146.1\nCash flow hedges\t0\t(0.1)\t0\nPension adjustments\t0.8\t0\t0\nCurrency translation adjustments\t(32.6)\t(28.9)\t0.9\nComprehensive income\t209.7\t199.8\t147.0\n", "q10k_tbl_59": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nCash Flows From Operating Activities\t\t\t\nNet income\t241.5\t228.8\t146.1\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\t\nDepreciation and amortization\t131.5\t119.4\t92.0\nLease expense\t18.1\t0\t0\nDeferred income taxes\t64.0\t12.7\t(76.8)\nStock-based compensation\t10.3\t12.5\t11.1\nAsbestos adjustments\t58.2\t22.0\t156.4\nExcess tax benefits from share-based awards\t(0.4)\t0\t(0.8)\nAsset impairments\t77.4\t15.9\t0\nLoss on early debt extinguishment\t0\t1.0\t26.1\nOther net\t17.2\t16.3\t12.6\nChanges in operating assets and liabilities:\t\t\t\nAccounts and other receivables\t(118.6)\t(18.1)\t(2.0)\nInventories\t3.2\t(28.6)\t(51.7)\nLease assets and liabilities net\t(15.6)\t0\t0\nPrepaid expenses and other assets\t(2.6)\t(1.7)\t(2.8)\nInsurance receivable - Asbestos\t7.6\t4.8\t7.3\nAccounts payable and accrued liabilities\t45.1\t3.5\t20.7\nClaims and handling costs paid - Asbestos\t(105.6)\t(108.8)\t(104.4)\nIncome taxes payable\t(11.0)\t8.8\t26.9\nOther accrued liabilities\t30.9\t15.5\t47.8\nNet cash provided by operating activities\t451.2\t304.0\t308.5\nCash Flows From Investing Activities\t\t\t\nPurchases of property plant and equipment\t(193.8)\t(317.5)\t(210.2)\nProceeds from sale of property plant and equipment\t8.0\t0\t7.9\nCapitalized interest\t(9.5)\t(5.4)\t(4.8)\nAcquisition of business net of cash acquired\t0\t(558.7)\t0\nPurchase of restricted short-term investments - Asbestos\t(75.5)\t(89.1)\t(78.4)\nProceeds from restricted short-term investments - Asbestos\t67.0\t106.3\t40.0\nNet cash used in investing activities\t(203.8)\t(864.4)\t(245.5)\nCash Flows From Financing Activities\t\t\t\nProceeds from credit facilities\t330.0\t230.0\t380.0\nRepayments of credit facilities\t(350.0)\t(180.0)\t(455.0)\nProceeds from 364-day term loan facility\t0\t492.4\t0\nRepayments of 364-day term loan facility\t0\t(458.8)\t0\nProceeds from senior unsecured notes\t0\t458.8\t800.0\nDebt issuance costs\t0\t(6.1)\t(15.7)\nRepayment of senior unsecured notes\t0\t0\t(400.0)\nCall redemption premium paid to note holders\t0\t0\t(19.5)\nProceeds from issuance of shares\t0\t0\t0.2\nRepayment of finance lease obligations and borrowings\t(0.4)\t0\t0\nDividends paid\t(158.6)\t(172.1)\t(177.5)\nRepayments of NSW Loan - Asbestos\t0\t0\t(51.9)\nNet cash (used in) provided by financing activities\t(179.0)\t364.2\t60.6\nEffects of exchange rate changes on cash and cash equivalents restricted cash and restricted cash - Asbestos\t(6.2)\t6.6\t(3.2)\nNet increase (decrease) in cash and cash equivalents restricted cash and restricted cash - Asbestos\t62.2\t(189.6)\t120.4\nCash and cash equivalents restricted cash and restricted cash - Asbestos at beginning of period\t123.6\t313.2\t192.8\nCash and cash equivalents restricted cash and restricted cash - Asbestos at end of period\t185.8\t123.6\t313.2\nNon-Cash Investing and Financing Activities\t\t\t\nCapital expenditures incurred but not yet paid\t8.3\t25.9\t8.1\nSupplemental Disclosure of Cash Flow Activities\t\t\t\nCash paid during the year for interest\t61.5\t57.0\t26.3\nCash paid during the year for income taxes net\t52.5\t26.3\t49.1\nCash paid to AICF\t108.9\t103.0\t102.2\n", "q10k_tbl_60": "(Millions of US dollars)\tCommon Stock\tAdditional Paid-in Capital\tAccumulated (Deficit) Equity\tAccumulated Other Comprehensive Gain (Loss)\tTotal\nBalances as of 31 March 2017\t229.1\t173.8\t(612.9)\t(2.2)\t(212.2)\nNet income\t0\t0\t146.1\t0\t146.1\nOther comprehensive income\t0\t0\t0\t0.9\t0.9\nStock-based compensation\t0.4\t11.6\t(0.9)\t0\t11.1\nEquity awards exercised\t0\t0.2\t0\t0\t0.2\nDividends declared\t0\t0\t(167.6)\t0\t(167.6)\nBalances as of 31 March 2018\t229.5\t185.6\t(635.3)\t(1.3)\t(221.5)\nNet income\t0\t0\t228.8\t0\t228.8\nOther comprehensive loss\t0\t0\t0\t(29.0)\t(29.0)\nStock-based compensation\t0.5\t12.0\t0\t0\t12.5\nAdoption of ASU 2016-16\t0\t0\t1160.3\t0\t1160.3\nDividends declared\t0\t0\t(176.7)\t0\t(176.7)\nBalances as of 31 March 2019\t230.0\t197.6\t577.1\t(30.3)\t974.4\nNet income\t0\t0\t241.5\t0\t241.5\nOther comprehensive loss\t0\t0\t0\t(31.8)\t(31.8)\nStock-based compensation\t0.6\t9.7\t0\t0\t10.3\nAdoption of ASU 2016-02\t0\t0\t0.2\t0\t0.2\nDividends declared\t0\t0\t(159.3)\t0\t(159.3)\nBalances as of 31 March 2020\t230.6\t207.3\t659.5\t(62.1)\t1035.3\n", "q10k_tbl_61": "\tYears Ended 31 March\t\t\n(Millions of shares)\t2020\t2019\t2018\nBasic common shares outstanding\t442.6\t441.9\t441.2\nDilutive effect of stock awards\t1.5\t1.1\t1.1\nDiluted common shares outstanding\t444.1\t443.0\t442.3\n(US dollars)\t2020\t2019\t2018\nNet income per share - basic\t0.55\t0.52\t0.33\nNet income per share - diluted\t0.54\t0.52\t0.33\n", "q10k_tbl_62": "\tYear Ended 31 March 2019\t\tYear Ended 31 March 2018\t\n(Millions of US dollars)\tAs reported\tAs adjusted\tAs reported\tAs adjusted\nCash Flows From Operating Activities\t\t\t\t\nAccounts payable and accrued liabilities\t(12.9)\t3.5\t14.2\t20.7\nNet cash provided by operating activities\t287.6\t304.0\t302.0\t308.5\nCash Flows From Investing Activities\t\t\t\t\nPurchases of property plant and equipment\t(301.1)\t(317.5)\t(203.7)\t(210.2)\nNet cash used in investing activities\t(848.0)\t(864.4)\t(239.0)\t(245.5)\n", "q10k_tbl_63": "\tYear Ended 31 March 2020\t\t\t\t\n(Millions of US dollars)\tNorth America Fiber Cement\tAsia Pacific Fiber Cement\tEurope Building Products\tOther Businesses1\tConsolidated\nFiber cement revenues\t1816.4\t418.4\t48.0\t0\t2282.8\nFiber gypsum revenues\t0\t0\t323.4\t0\t323.4\nOther revenues\t0\t0\t0\t0.6\t0.6\nTotal revenues\t1816.4\t418.4\t371.4\t0.6\t2606.8\n1 Effective 31 March 2020 the Other Businesses segment no longer qualifies as a reportable segment. Refer to Note 19 for further details.\t\t\t\t\t\n", "q10k_tbl_64": "\tYear Ended 31 March 2019\t\t\t\t\n(Millions of US dollars)\tNorth America Fiber Cement\tAsia Pacific Fiber Cement\tEurope Building Products\tOther Businesses\tConsolidated\nFiber cement revenues\t1676.9\t446.8\t35.8\t0\t2159.5\nFiber gypsum revenues\t0\t0\t332.5\t0\t332.5\nOther revenues\t0\t0\t0\t14.6\t14.6\nTotal revenues\t1676.9\t446.8\t368.3\t14.6\t2506.6\n", "q10k_tbl_65": "\tYear Ended 31 March 2018\t\t\t\t\n(Millions of US dollars)\tNorth America Fiber Cement\tAsia Pacific Fiber Cement\tEurope Building Products\tOther Businesses\tConsolidated\nFiber cement revenues\t1578.1\t425.4\t36.3\t0\t2039.8\nFiber gypsum revenues\t0\t0\t0\t0\t0\nOther revenues\t0\t0\t0\t14.7\t14.7\nTotal revenues\t1578.1\t425.4\t36.3\t14.7\t2054.5\n", "q10k_tbl_66": "\t31 March\t\t\t\n(Millions of US dollars)\t2020\t2019\t2018\t2017\nCash and cash equivalents\t144.4\t78.7\t281.6\t78.9\nRestricted cash\t5.0\t5.1\t5.0\t5.0\nRestricted cash - Asbestos\t36.4\t39.8\t26.6\t108.9\nTotal cash and cash equivalents restricted cash and restricted cash - Asbestos\t185.8\t123.6\t313.2\t192.8\n", "q10k_tbl_67": "\t31 March\t\n(Millions of US dollars)\t2020\t2019\nTrade receivables\t268.4\t245.5\nIncome taxes receivable\t84.7\t0\nOther receivables and advances\t14.6\t12.0\nProvision for doubtful trade receivables\t(4.4)\t(2.9)\nTotal accounts and other receivables\t363.3\t254.6\n", "q10k_tbl_68": "\t31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nBalance at beginning of period\t2.9\t1.3\t0.9\nAdjustment to provision\t1.7\t2.8\t0.6\nWrite-offs net of recoveries\t(0.2)\t(1.2)\t(0.2)\nBalance at end of period\t4.4\t2.9\t1.3\n", "q10k_tbl_69": "\t31 March\t\n(Millions of US dollars)\t2020\t2019\nFinished goods\t224.4\t235.0\nWork-in-process\t8.1\t7.3\nRaw materials and supplies\t87.0\t88.8\nProvision for obsolete finished goods and raw materials\t(14.4)\t(13.7)\nTotal inventories\t305.1\t317.4\n", "q10k_tbl_70": "(Millions of US dollars)\tEurope Building Products\tAsia Pacific Fiber Cement\tOther Businesses\tTotal\nBalance - 31 March 2018\t0\t0.3\t4.6\t4.9\nAcquired\t220.0\t0\t0\t220.0\nImpairment\t0\t0\t(4.6)\t(4.6)\nForeign exchange impact\t(19.2)\t0\t0\t(19.2)\nBalance - 31 March 2019\t200.8\t0.3\t0\t201.1\nImpairment\t0\t(0.2)\t0\t(0.2)\nForeign exchange impact\t(3.9)\t(0.1)\t0\t(4.0)\nBalance - 31 March 2020\t196.9\t0\t0\t196.9\n", "q10k_tbl_71": "\tYear Ended 31 March 2020\t\t\n(Millions of US dollars)\tGross Carrying Amount\tAccumulated Amortization\tNet Carrying Amount\nCustomer Relationships\t51.4\t(6.4)\t45.0\nOther1\t11.6\t(10.8)\t0.8\nTotal\t63.0\t(17.2)\t45.8\n1 Includes impairment charges of US$1.4 million for the fiscal year ended 31 March 2020\t\t\t\n", "q10k_tbl_72": "\tYear Ended 31 March 2019\t\t\n(Millions of US dollars)\tGross Carrying Amount\tAccumulated Amortization\tNet Carrying Amount\nCustomer Relationships\t52.0\t(4.3)\t47.7\nOther1\t11.8\t(8.6)\t3.2\nTotal\t63.8\t(12.9)\t50.9\n1 Includes impairment charges of US$2.6 million for the fiscal year ended 31 March 2019\t\t\t\n", "q10k_tbl_73": "Years ended 31 March (Millions of US dollars):\t\n2021\t2.6\n2022\t3.3\n2023\t4.1\n2024\t4.4\n2025\t4.5\n", "q10k_tbl_74": "(Millions of US dollars) Cost or valuation:\tLand\tBuildings\tMachinery and Equipment\tConstruction in Progress 1\tTotal\nAt 31 March 2018\t68.2\t346.8\t1236.1\t178.9\t1830.0\nAdditions2\t1.6\t58.9\t203.6\t76.7\t340.8\nAcquisitions\t19.2\t44.1\t159.5\t7.5\t230.3\nTransfers3\t0\t(6.0)\t2.2\t(6.5)\t(10.3)\nDisposals4\t(0.2)\t(5.9)\t(48.1)\t(1.2)\t(55.4)\nExchange differences\t(5.0)\t(5.1)\t(45.7)\t1.8\t(54.0)\nAt 31 March 2019\t83.8\t432.8\t1507.6\t257.2\t2281.4\nAdditions2\t0.3\t13.9\t152.3\t19.3\t185.8\nTransfers3\t0\t0.7\t3.1\t(4.9)\t(1.1)\nDisposals4\t0\t(1.7)\t(55.3)\t0.2\t(56.8)\nImpairment\t0\t(0.1)\t(10.2)\t(5.4)\t(15.7)\nExchange differences\t(5.1)\t(13.1)\t(86.1)\t1.2\t(103.1)\nAt 31 March 2020\t79.0\t432.5\t1511.4\t267.6\t2290.5\nAccumulated depreciation:\t\t\t\t\t\nAt 31 March 2018\t0\t(137.4)\t(700.5)\t0\t(837.9)\nDepreciation\t0\t(14.6)\t(95.0)\t0\t(109.6)\nTransfers3\t0\t0.8\t3.7\t0\t4.5\nDisposals4\t0\t4.1\t23.3\t0\t27.4\nExchange differences\t0\t3.2\t19.4\t0\t22.6\nAt 31 March 2019\t0\t(143.9)\t(749.1)\t0\t(893.0)\nDepreciation\t0\t(15.7)\t(109.7)\t0\t(125.4)\nTransfers3\t0\t0\t0.3\t0\t0.3\nDisposals4\t0\t1.5\t40.3\t0\t41.8\nImpairment\t0\t(0.6)\t(48.2)\t0\t(48.8)\nExchange differences\t0\t6.4\t69.9\t0\t76.3\nAt 31 March 2020\t0\t(152.3)\t(796.5)\t0\t(948.8)\nNet book value amount:\t\t\t\t\t\nAt 31 March 2019\t83.8\t288.9\t758.5\t257.2\t1388.4\nAt 31 March 2020\t79.0\t280.2\t714.9\t267.6\t1341.7\n", "q10k_tbl_75": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nNorth America Fiber Cement\t44.0\t3.0\t0.7\nAsia Pacific Fiber Cement\t15.0\t0\t0\nEurope Building Products\t5.5\t0\t0\nOther Businesses\t0\t6.1\t0\n\t64.5\t9.1\t0.7\n", "q10k_tbl_76": "(Millions of US dollars)\t31 March 2020\nAssets:\t\nOperating leases net\t40.5\nFinance leases net\t1.7\nTotal right-of-use assets\t42.2\nLiabilities:\t\nOperating leases:\t\nCurrent\t14.3\nNon-Current\t41.4\nTotal operating lease liabilities\t55.7\nFinance leases:\t\nCurrent\t0.5\nNon-Current\t1.5\nTotal finance lease liabilities\t2.0\nTotal lease liabilities\t57.7\n", "q10k_tbl_77": "(Millions of US dollars)\tYear Ended 31 March 2020\nOperating leases\t18.4\nShort-term leases\t1.0\nVariable leases\t0.1\nFinance leases\t0.3\nInterest on lease liabilities\t0.1\nTotal lease expense\t19.9\n", "q10k_tbl_78": "Years ended 31 March (Millions of US dollars):\tOperating Leases\tFinance Leases\tTotal\n2021\t16.7\t0.6\t17.3\n2022\t13.1\t0.5\t13.6\n2023\t9.2\t0.5\t9.7\n2024\t6.7\t0.3\t7.0\n2025\t4.4\t0.2\t4.6\nThereafter\t8.8\t0.1\t8.9\nTotal\t58.9\t2.2\t61.1\nLess: imputed interest\t\t\t3.4\nTotal lease liabilities\t\t\t57.7\n", "q10k_tbl_79": "\t31 March\t\n(Millions of US dollars)\t2020\t2019\nTrade creditors\t151.3\t142.4\nAccrued interest\t8.6\t8.8\nOther creditors and accruals\t114.8\t104.3\nTotal accounts payable and accrued liabilities\t274.7\t255.5\n", "q10k_tbl_80": "\t31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nBalance at beginning of period\t46.6\t52.8\t46.6\nIncrease (Decrease) in product warranties accrual\t0.8\t(0.8)\t13.1\nAcquired during the period\t0\t0.5\t0\nSettlements made in cash or in kind\t(5.0)\t(5.9)\t(6.9)\nBalance at end of period\t42.4\t46.6\t52.8\n", "q10k_tbl_81": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nChange in estimates:\t\t\t\nChange in actuarial estimate - asbestos liability\t(133.8)\t(73.8)\t(152.1)\nChange in actuarial estimate - insurance receivable\t5.7\t0\t1.2\nChange in estimate - AICF claims-handling costs\t0.1\t1.1\t(0.5)\nSubtotal - Change in estimates\t(128.0)\t(72.7)\t(151.4)\nEffect of foreign exchange on Asbestos net liabilities\t69.0\t49.5\t(5.3)\nGain (loss) on foreign currency forward contracts\t0.8\t(0.8)\t1.4\nAdjustments in insurance receivable\t0\t2.0\t0\nAsbestos research and education contribution\t0\t0\t(1.1)\nTotal Asbestos Adjustments\t(58.2)\t(22.0)\t(156.4)\n", "q10k_tbl_82": "\tYear Ended 31 March 2020\t\n(Millions of US and Australian dollars respectively)\tUS$\tA$\nCentral Estimate - Discounted and Inflated\t1250.9\t2025.2\nCentral Estimate - Undiscounted but Inflated\t1368.3\t2215.2\nCentral Estimate - Undiscounted and Uninflated\t897.1\t1452.4\n", "q10k_tbl_83": "\tAs of 31 March 2020\t\n(Millions of US and Australian dollars respectively)\tUS$\tA$\nDiscounted (but inflated) - Low\t913.0\t1478.2\nDiscounted (but inflated) - High\t2109.3\t3414.9\nUndiscounted (but inflated) - Low\t984.3\t1593.6\nUndiscounted (but inflated) - High\t2385.2\t3861.7\n", "q10k_tbl_84": "\tFor the Years Ended 31 March\t\t\t\t\n\t2020\t2019\t2018\t2017\t2016\nNumber of open claims at beginning of period\t332\t336\t352\t426\t494\nNumber of new claims\t657\t568\t562\t557\t577\nNumber of closed claims\t596\t572\t578\t631\t645\nNumber of open claims at end of period\t393\t332\t336\t352\t426\nAverage settlement amount per settled claim\tA$277000\tA$262000\tA$253000\tA$224000\tA$248000\nAverage settlement amount per case closed\tA$245000\tA$234000\tA$217000\tA$168000\tA$219000\nAverage settlement amount per settled claim\tUS$189000\tUS$191000\tUS$196000\tUS$168000\tUS$183000\nAverage settlement amount per case closed\tUS$167000\tUS$171000\tUS$168000\tUS$126000\tUS$161000\n", "q10k_tbl_85": "\t31 March\t\n(Millions of US dollars)\t2020\t2019\nAsbestos liability - current\t(103.9)\t(110.5)\nAsbestos liability - non-current\t(882.5)\t(979.1)\nAsbestos liability - Total\t(986.4)\t(1089.6)\nInsurance receivable - current\t5.0\t7.5\nInsurance receivable - non-current\t38.5\t43.7\nInsurance receivable - Total\t43.5\t51.2\nWorkers' compensation asset - current\t1.5\t2.0\nWorkers' compensation asset - non-current\t20.7\t25.8\nWorkers' compensation liability - current\t(1.5)\t(2.0)\nWorkers' compensation liability - non-current\t(20.7)\t(25.8)\nWorkers' compensation - Total\t0\t0\nOther net liabilities\t(2.0)\t(2.1)\nRestricted cash and cash equivalents of AICF\t36.4\t39.8\nRestricted short-term investments of AICF\t21.6\t17.7\nNet Unfunded AFFA liability\t(886.9)\t(983.0)\nDeferred income taxes - non-current\t319.1\t349.3\nIncome tax payable\t23.4\t25.3\nNet Unfunded AFFA liability net of tax\t(544.4)\t(608.4)\n", "q10k_tbl_86": "(Millions of US dollars)\tAsbestos Liability\tInsurance Receivables\tRestricted Cash and Investments\tOther Assets and Liabilities\tNet Unfunded AFFA Liability\tDeferred Tax Assets\tIncome Tax Payable\tNet Unfunded AFFA Liability net of tax\nOpening Balance - 31 March 2019\t(1089.6)\t51.2\t57.5\t(2.1)\t(983.0)\t349.3\t25.3\t(608.4)\nAsbestos claims paid1\t104.6\t0\t(104.6)\t0\t0\t0\t0\t0\nPayment received in accordance with AFFA2\t0\t0\t108.9\t0\t108.9\t0\t0\t108.9\nAICF claims-handling costs incurred (paid)\t1.0\t0\t(1.0)\t0\t0\t0\t0\t0\nAICF operating costs paid - non claims-handling\t0\t0\t(1.7)\t0\t(1.7)\t0\t0\t(1.7)\nChange in actuarial estimate\t(133.8)\t5.7\t0\t0\t(128.1)\t0\t0\t(128.1)\nChange in claims handling cost estimate\t0.1\t0\t0\t0\t0.1\t0\t0\t0.1\nImpact on deferred income tax due to change in actuarial estimate\t0\t0\t0\t0\t0\t38.4\t0\t38.4\nInsurance recoveries\t0\t(7.6)\t7.6\t0\t0\t0\t0\t0\nMovement in income tax payable\t0\t0\t0\t0\t0\t(25.8)\t0.8\t(25.0)\nOther movements\t0\t0\t3.2\t(1.1)\t2.1\t0.3\t0\t2.4\nEffect of foreign exchange\t131.3\t(5.8)\t(11.9)\t1.2\t114.8\t(43.1)\t(2.7)\t69.0\nClosing Balance - 31 March 2020\t(986.4)\t43.5\t58.0\t(2.0)\t(886.9)\t319.1\t23.4\t(544.4)\n", "q10k_tbl_87": "Maturity Date\tInterest Rate\tA$ Millions\n30 April 2020\t1.70%\t20.0\n1 June 2020\t1.70%\t15.0\n", "q10k_tbl_88": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nIncome before income taxes:\t\t\t\nDomestic\t209.6\t196.4\t155.1\nForeign\t78.4\t104.2\t19.2\nIncome before income taxes:\t288.0\t300.6\t174.3\nIncome tax expense:\t\t\t\nCurrent:\t\t\t\nDomestic\t(31.1)\t(26.6)\t(14.8)\nForeign\t39.8\t(6.5)\t(69.4)\nCurrent income tax benefit (expense)\t8.7\t(33.1)\t(84.2)\nDeferred:\t\t\t\nDomestic\t(4.5)\t(1.3)\t(1.8)\nForeign\t(50.7)\t(37.4)\t57.8\nDeferred income tax (expense) benefit\t(55.2)\t(38.7)\t56.0\nTotal income tax expense\t(46.5)\t(71.8)\t(28.2)\n", "q10k_tbl_89": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nIncome tax expense computed at the statutory tax rates\t(38.7)\t(48.9)\t(24.6)\nUS state income taxes net of the federal benefit\t(5.7)\t(3.1)\t(4.3)\nAsbestos - effect of foreign exchange\t20.9\t14.9\t(1.8)\nExpenses not deductible\t(7.4)\t(4.9)\t(4.7)\nUS manufacturing deduction\t0\t0\t2.5\nForeign taxes on domestic income\t(43.5)\t(34.5)\t(34.2)\nAmortization of intangibles\t0\t0\t12.4\nTaxes on foreign income\t2.7\t4.5\t(3.0)\nNet deferred tax liability revaluation\t(1.8)\t0.2\t27.7\nUS net operating loss carryback\t25.5\t0\t0\nOther items\t1.5\t0\t1.8\nTotal income tax expense\t(46.5)\t(71.8)\t(28.2)\nEffective tax rate\t16.1%\t23.9%\t16.2%\n", "q10k_tbl_90": "\t31 March\t\n(Millions of US dollars)\t2020\t2019\nDeferred tax assets:\t\t\nIntangible assets\t1126.4\t1209.8\nAsbestos liability\t319.1\t349.3\nOther provisions and accruals\t54.1\t55.6\nNet operating loss carryforwards\t41.3\t69.9\nForeign and research tax credit carryforwards\t114.2\t115.5\nTotal deferred tax assets\t1655.1\t1800.1\nValuation allowance\t(262.9)\t(267.6)\nTotal deferred tax assets net of valuation allowance\t1392.2\t1532.5\nDeferred tax liabilities:\t\t\nDepreciable and amortizable assets\t(117.5)\t(132.2)\nOther\t(48.1)\t(38.5)\nTotal deferred tax liabilities\t(165.6)\t(170.7)\nTotal deferred taxes net\t1226.6\t1361.8\n", "q10k_tbl_91": "(Millions of US Dollars)\tUnrecognized tax benefits\tInterest and Penalties\nBalance at 31 March 2017\t0.7\t0\nAdditions for tax positions of the current and prior year\t0\t0\nBalance at 31 March 2018\t0.7\t0\nAdditions for tax positions of the current year\t0.1\t0.1\nReductions applicable to lapse of statute of limitations\t(0.2)\t0\nBalance at 31 March 2019\t0.6\t0.1\nAdditions for tax positions of the prior years\t0.1\t0\nBalance at 31 March 2020\t0.7\t0.1\n", "q10k_tbl_92": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nLiability Awards Expense (Income)\t2.8\t(0.6)\t5.6\nEquity Awards Expense\t10.3\t12.5\t11.1\nTotal stock-based compensation expense\t13.1\t11.9\t16.7\n", "q10k_tbl_93": "\tShares Available for Grant\nBalance at 31 March 2018\t25458910\nGranted)\t(1714094\nBalance at 31 March 2019\t23744816\nGranted)\t(800437\nBalance at 31 March 2020\t22944379\n", "q10k_tbl_94": "\tRestricted Stock Units\tWeighted Average Fair Value at Grant Date (A$)\nNon-vested at 31 March 2018\t4137592\t14.63\nGranted\t1714094\t14.12\nVested)\t(745787\t15.53\nForfeited)\t(844391\t13.71\nNon-vested at 31 March 2019\t4261508\t14.47\nGranted\t800437\t18.08\nVested)\t(874835\t16.21\nForfeited)\t(1024673\t15.21\nNon-vested at 31 March 2020\t3162437\t14.64\n", "q10k_tbl_95": "Vesting Condition:\tMarket\tMarket\tMarket\tMarket\tMarket\n\tFY20\tFY20\tFY20\tFY19\tFY19\nDate of grant1\t25 Feb 2020\t20 Sep 2019\t9 Aug 2019\t6 Sep 2018\t17 Aug 2018\nDividend yield (per annum)%\t2.9\t3.1%\t3.1%\t3.0%\t3.0%\nExpected volatility%\t26.6\t26.6%\t27.8%\t26.8%\t28.1%\nRisk free interest rate%\t1.2\t1.6%\t1.6%\t2.7%\t2.7%\nExpected life in years\t2.5\t2.9\t2.0\t2.9\t3.0\nJHX stock price at grant date (A$)\t29.54\t24.69\t21.68\t20.87\t22.00\nNumber of restricted stock units\t6676\t477979\t18518\t49381\t663738\n", "q10k_tbl_96": "(Millions of US dollars)\tUS Cents/Security\tUS$ Millions Total Amount\tAnnouncement Date\tRecord Date\tPayment Date\nFY 2020 first half dividend 1\t0.10\t44.7\t7 November 2019\t18 November 2019\t20 December 2019\nFY 2019 second half dividend\t0.26\t113.9\t21 May 2019\t6 June 2019\t2 August 2019\nFY 2019 first half dividend\t0.10\t43.6\t8 November 2018\t12 December 2018\t22 February 2019\nFY 2018 second half dividend\t0.30\t128.5\t22 May 2018\t7 June 2018\t3 August 2018\nFY 2018 first half dividend\t0.10\t46.2\t9 November 2017\t13 December 2017\t23 February 2018\nFY 2017 second half dividend\t0.28\t131.3\t18 May 2017\t8 June 2017\t4 August 2017\n1 Includes US$2.8 million of withholding taxes paid on 10 January 2020\t\t\t\t\t\n", "q10k_tbl_97": "\tNet Sales Years Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nNorth America Fiber Cement\t1816.4\t1676.9\t1578.1\nAsia Pacific Fiber Cement\t418.4\t446.8\t425.4\nEurope Building Products\t371.4\t368.3\t36.3\nOther Businesses\t0.6\t14.6\t14.7\nWorldwide total\t2606.8\t2506.6\t2054.5\n\tIncome Before Income Taxes Years Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nNorth America Fiber Cement1\t429.3\t382.5\t381.9\nAsia Pacific Fiber Cement1\t58.5\t99.8\t108.1\nEurope Building Products18\t11.2\t10.0\t0.3\nOther Businesses\t0\t(30.9)\t(8.6)\nResearch and Development1\t(27.0)\t(29.0)\t(27.8)\nSegments total\t472.0\t432.4\t453.9\nGeneral Corporate27\t(129.5)\t(80.8)\t(224.7)\nTotal operating income\t342.5\t351.6\t229.2\nNet interest expense3\t(54.4)\t(50.1)\t(29.5)\nLoss on early debt extinguishment\t0\t(1.0)\t(26.1)\nOther (expense) income\t(0.1)\t0.1\t0.7\nWorldwide total\t288.0\t300.6\t174.3\n", "q10k_tbl_98": "\tDepreciation and Amortization Years ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nNorth America Fiber Cement\t88.7\t80.2\t72.5\nAsia Pacific Fiber Cement\t12.7\t12.8\t12.6\nEurope Building Products\t25.6\t18.7\t0.1\nOther Businesses\t0.2\t2.3\t2.1\nGeneral Corporate\t3.2\t4.3\t3.3\nResearch and Development\t1.1\t1.1\t1.4\nTotal\t131.5\t119.4\t92.0\n", "q10k_tbl_99": "\tTotal Identifiable Assets 31 March\t\n(Millions of US dollars)\t2020\t2019\nNorth America Fiber Cement\t1320.0\t1280.2\nAsia Pacific Fiber Cement\t314.3\t328.8\nEurope Building Products\t748.5\t717.7\nOther Businesses4\t0\t10.9\nResearch and Development\t8.6\t8.1\nSegments total\t2391.4\t2345.7\nGeneral Corporate 456\t1636.9\t1686.9\nWorldwide total\t4028.3\t4032.6\n", "q10k_tbl_100": "\tNet Sales Years Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nNorth America10\t1817.0\t1691.5\t1592.8\nAustralia\t290.4\t315.1\t301.1\nGermany\t135.7\t137.1\t2.1\nNew Zealand\t72.2\t79.1\t76.8\nOther Countries9\t291.5\t283.8\t81.7\nWorldwide total\t2606.8\t2506.6\t2054.5\n\t\tTotal Identifiable Assets 31 March\t\n(Millions of US dollars)\t\t2020\t2019\nNorth America10\t\t1324.8\t1294.6\nAustralia\t\t220.0\t235.4\nGermany\t\t519.3\t512.3\nNew Zealand\t\t32.4\t39.2\nOther Countries9\t\t294.9\t264.2\nSegments total\t\t2391.4\t2345.7\nGeneral Corporate56\t\t1636.9\t1686.9\nWorldwide total\t\t4028.3\t4032.6\n", "q10k_tbl_101": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nNorth America Fiber Cement\t5.3\t6.5\t6.1\nAsia Pacific Fiber Cement\t1.8\t2.1\t1.8\nEurope Building Products\t1.7\t2.6\t0\nResearch and Developmenta\t24.0\t26.7\t25.4\n\t32.8\t37.9\t33.3\n", "q10k_tbl_102": "\tYears Ended 31 March\t\t\n(Millions of US dollars)\t2020\t2019\t2018\nAsbestos adjustments\t(58.2)\t(22.0)\t(156.4)\nAICF SG&A expenses\t(1.7)\t(1.5)\t(1.9)\nGain on sale of Fontana building\t0\t0\t3.4\nFermacell acquisition costs\t0\t0\t10.0\n", "q10k_tbl_103": "(Millions of US dollars)\tNorth America Fiber Cement\tAsia Pacific Fiber Cement\tEurope Building Products\tGeneral Corporate\tTotal\nProperty plant and equipment 1\t41.2\t15.0\t5.5\t0\t61.7\nRight-of-use assets 2\t0\t11.2\t0\t0\t11.2\nIntangible assets\t0\t0\t0\t1.4\t1.4\nInventories 3\t0\t2.9\t0\t0\t2.9\nGoodwill\t0\t0.2\t0\t0\t0.2\nAsset Retirement Obligations 4\t0\t5.8\t0\t0\t5.8\nOther\t0\t1.2\t0\t0\t1.2\n\t41.2\t36.3\t5.5\t1.4\t84.4\n1 Excludes US$2.8 million of impairment charges in North America Fiber Cement segment on individual assets that were included in Cost of goods sold. Refer to Note 8 for further details.\t\t\t\t\t\n2 Refer to Note 9 for further details.\t\t\t\t\t\n3 The US$2.9 million charge primarily relates to the estimated costs associated with pallets and raw materials with the closing of the New Zealand plant and exit of James Hardie Systems.\t\t\t\t\t\n4 The total Asset Retirement Obligation balance at 31 March 2020 of US$8.0 million is recorded in the Asia Pacific Fiber Cement segment in Other liabilities - non-current and relates to the New Zealand plant. This balance is inclusive of the impairment amount above.\t\t\t\t\t\n", "q10k_tbl_104": "\tYears Ended 31 March\t\t\t\t\t\n(Millions of US dollars)\t2020\t\t2019\t\t2018\t\nCustomer A\t306.0\t12.0%\t260.5\t10.4%\t246.9\t12.0%\n", "q10k_tbl_105": "(Millions of US dollars)\tCash Flow Hedges\tPension Actuarial Gain\tForeign Currency Translation Adjustments\tTotal\nBalance at 31 March 2019\t0.2\t0\t(30.5)\t(30.3)\nOther comprehensive gain (loss)\t0\t0.8\t(32.6)\t(31.8)\nBalance at 31 March 2020\t0.2\t0.8\t(63.1)\t(62.1)\n", "q10k_tbl_106": "\tFiscal Years Ended 31 March\t\t\n\t2020\t2019\t2018\nFiber Cement United States and Canada\t2563\t2592\t2659\nEurope Building Products1\t972\t994\t80\nFiber Cement Australia\t597\t603\t539\nFiber Cement New Zealand\t180\t186\t170\nFiber Cement Philippines\t340\t304\t261\nOther Businesses - United States2\t0\t19\t35\nResearch & Development including Technology\t156\t159\t156\nGeneral Corporate\t61\t59\t60\nTotal Employees\t4869\t4916\t3960\n", "q10k_tbl_107": "\tUS$\tA$\tEuros\tNZ$\tOther1\nNet sales\t66.4%\t11.1%\t14.2%\t2.8%\t5.5%\nExpenses2\t63.4%\t12.6%\t16.3%\t3.1%\t4.6%\nLiabilities (excluding borrowings)2\t21.0%\t64.2%\t12.0%\t2.0%\t0.8%\n", "q10k_tbl_108": "\tUS$\tA$\tEuros\tNZ$\tOther1\nNet sales\t63.9%\t12.6%\t14.6%\t3.2%\t5.7%\nExpenses2\t63.4%\t12.2%\t16.6%\t3.3%\t4.5%\nLiabilities (excluding borrowings)2\t17.6%\t69.5%\t11.1%\t0.9%\t0.9%\n", "q10k_tbl_109": "Geographic Region\t31 March 2020\t31 March 2019\nAustralia\t61.38%\t62.79%\nUnited States\t14.65%\t18.12%\nUnited Kingdom\t4.50%\t3.92%\nEurope (excluding the United Kingdom)\t6.27%\t5.39%\nAsia\t5.08%\t2.94%\nOther\t8.12%\t6.84%\n", "q10k_tbl_110": "Size of Holding Range\tCUFS\t\t\tOptions\t\nHolders\tHoldings\tTotal %\tHolders\tHoldings\n1-1000\t14980\t5617984\t1.27\t0\t0\n1001-5000\t6067\t13003542\t2.93\t0\t0\n5001-10000\t767\t5443566\t1.23\t0\t0\n10001-100000\t461\t10079476\t2.27\t0\t0\n100001 and over\t62\t409000172\t92.30\t0\t0\nTotals\t22337\t443144740\t100.00\t0\t0\n", "q10k_tbl_111": "CUFS holder\tShares Beneficially Owned\tPercentage of Shares Outstanding\nBlackRock Inc1\t28362694\t6.40%\nAustralianSuper Pty Ltd2\t26555806\t5.99%\nCommonwealth Bank of Australia3\t26544061\t5.99%\nThe Vanguard Group Inc.4\t24438618\t5.51%\nOppenheimerFunds Inc.5\t23564091\t5.32%\nChallenger Limited6\t18918753\t4.27%\nMitsubishi UFJ Financial Group Inc.7\t17015509\t3.84%\nUniSuper Limited8\t16822664\t3.80%\nSchroders plc9\t14529189\t3.28%\n", "q10k_tbl_112": "Name\tCUFS Holdings\tPercentage\tRank\nHSBC Custody Nominees (Australia) Limited\t142768508\t32.22%\t1\nJ P Morgan Nominees Australia Pty Limited\t121057329\t27.32%\t2\nCiticorp Nominees Pty Limited\t37545961\t8.47%\t3\nNational Nominees Limited\t29500845\t6.66%\t4\nBNP Paribas Nominees Pty Ltd\t24178438\t5.46%\t5\nBNP Paribas Noms Pty Ltd\t9442750\t2.13%\t6\nCiticorp Nominees Pty Limited\t9233752\t2.08%\t7\nAustralia Foundation Investment Company Limited\t4400000\t0.99%\t8\nHSBC Custody Nominees (Australia) Limited\t3110035\t0.70%\t9\nHSBC Custody Nominees (Australia) Limited\t2644839\t0.60%\t10\nHSBC Custody Nominees (Australia) Limited\t1959329\t0.44%\t11\nCS Third Nominees Pty Limited\t1657992\t0.37%\t12\nBNP Paribas Nominees Pty Ltd\t1403247\t0.32%\t13\nArgo Investments Limited\t1400000\t0.32%\t14\nAvanteos Investments Limited\t1189145\t0.27%\t15\nHSBC Custody Nominees (Australia) Limited\t1145747\t0.26%\t16\nAMP Life Limited\t941439\t0.21%\t17\nMutual Trust Pty Ltd\t830644\t0.19%\t18\nNetwealth Investments Limited\t814432\t0.18%\t19\nAustralian Foundation Investment Company Limited\t788383\t0.18%\t20\nTOTAL\t396012815\t89.37%\t\n", "q10k_tbl_113": "Exhibit Number\tExhibit Description\n1.1\tMemorandum of Association of James Hardie Industries plc as amended (filed as Exhibit 99.4 to the Company's Report on Form 6-K filed 14 August 2018 (Commission File Number 001-15240) and incorporated by reference herein)\n1.2\tArticles of Association of James Hardie Industries plc (filed as Exhibit 99.4 to the Company's Report on Form 6-K filed 14 August 2018 (Commission File Number 001-15240) and incorporated by reference herein)\n2.1\tAmended and Restated Deposit Agreement by and among James Hardie Industries plc Deutsche Bank Trust Company Americas as depositary and the holders and beneficial owners of American depositary shares evidenced by American depositary receipts issued thereunder (filed as Exhibit 99.A to the Company's Registration Statement on Form F-6 filed on 25 September 2014 (Commission File Number 333-198928) and incorporated by reference herein)\n2.2\tForm of Amendment No. 1 to Amended and Restated Deposit Agreement (filed as Exhibit 99(A)(2) to the Company's Post-Effective Amendment No. 1 to Form F-6 filed on 03 September 2015 (Commission File Number 333-198928) and incorporated by reference herein)\n2.3\tGuarantee Trust Deed dated 19 December 2006 by and between James Hardie Industries N.V. and AET Structured Finance Services Pty Limited (filed as Exhibit 4.12 to the Company's Post-Effective No. 1 to Form F-4 filed on 17 June 2010 (Commission File Number 333-165531) and incorporated by reference herein)\n2.4\tPerforming Subsidiary Undertaking and Guarantee Trust Deed dated 19 December 2006 by and between James Hardie 117 Pty Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 4.14 to the Company's Post-Effective No. 1 to Form F-4 filed on 17 June 2010 (Commission File Number 333-165531) and incorporated by reference herein)\n2.5\tIntercreditor Deed dated 19 December 2006 by and among The State of New South Wales James Hardie Industries N.V. Asbestos Injuries Compensation Fund Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 10.34 to the Company's Post-Effective No. 1 to Form F-4 filed on 17 June 2010 (Commission File Number 333-165531) and incorporated by reference herein)\n2.6\tLetter Agreement dated 21 March 2007 amending the Intercreditor Deed dated 19 December 2006 by and among The State of New South Wales James Hardie Industries N.V. Asbestos Injuries Compensation Fund Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 10.35 to the Company's Post-Effective No. 1 to Form F-4 filed on 17 June 2010 (Commission File Number 333-165531) and incorporated by reference herein)\n2.7\tPerforming Subsidiary Intercreditor Deed dated 19 December 2006 by and among The State of New South Wales James Hardie 117 Pty Limited Asbestos Injuries Compensation Fund Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 10.37 to the Company's Post-Effective No. 1 to Form F-4 filed on 17 June 2010 (Commission File Number 333-165531) and incorporated by reference herein)\n2.8\tLetter Agreement dated 21 March 2007 amending the Performing Subsidiary Intercreditor Deed dated 19 December 2006 by and among The State of New South Wales James Hardie 117 Pty Limited Asbestos Injuries Compensation Fund Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 10.38 to the Company's Post-Effective No. 1 to Form F-4 filed on 17 June 2010 (Commission File Number 333-165531) and incorporated by reference herein)\n2.9\tAmending Deed to Guarantee Trust Deed dated 6 October 2009 by and between James Hardie Industries N.V. and AET Structured Finance Services Pty Limited (filed as Exhibit 2.10 to the Company's Annual Report on Form 20-F filed on 30 June 2010 (Commission File 001-15240) and incorporated by reference herein)\n2.10\tAmending Deed to Performing Subsidiary Undertaking and Guarantee Trust Deed dated 6 October 2009 by and between James Hardie 117 Pty Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 2.12 to the Company's Annual Report on Form 20-F filed on 30 June 2010 (Commission File 001-15240) and incorporated by reference herein)\n2.11\tAmending Deed (Intercreditor Deed) dated 23 June 2009 by and among The State of New South Wales James Hardie Industries N.V. Asbestos Injuries Compensation Fund Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 4.36 to the Company's Annual Report on Form 20-F filed on 30 June 2010 (Commission File 001-15240) and incorporated by reference herein)\n", "q10k_tbl_114": "Exhibit Number\tExhibit Description\n2.12\tAmending Deed (Performing Subsidiary Intercreditor Deed) dated 23 June 2009 by and among The State of New South Wales James Hardie 117 Pty Limited Asbestos Injuries Compensation Fund Limited and AET Structured Finance Services Pty Limited (filed as Exhibit 4.39 to the Company's Annual Report on Form 20-F filed on 30 June 2010 (Commission File 001-15240) and incorporated by reference herein)\n2.13\tIndenture dated 13 December 2017 by and among James Hardie International Finance Designated Activity Company the guarantors named therein and Deutsche Bank Trust Company Americas (filed as Exhibit 2.13 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n2.14\tForm of 4.750% Senior Note due 2025 (filed as Exhibit 2.14 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n2.15\tForm of 5.000% Senior Note due 2028 (filed as Exhibit 2.15 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n2.16\tAmended and Restated Credit and Guaranty Agreement dated 13 December 2017 by and among James Hardie International Finance Designated Activity Company and James Hardie Building Products Inc. as borrowers James Hardie International Group Limited and James Hardie Technology Limited as guarantors James Hardie Industries plc as parent HSBC Bank USA National Association as administrative agent and the other lender parties thereto (filed as Exhibit 2.16 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n2.17\t364-Day Term Loan and Guaranty Agreement dated 13 December 2017 by and among James Hardie International Finance Designated Activity Company and James Hardie Building Products Inc. as borrowers James Hardie International Group Limited and James Hardie Technology Limited as guarantors James Hardie Industries plc as parent HSBC Bank USA National Association as administrative agent and the other lender parties thereto (filed as Exhibit 2.17 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n2.18\tIndenture dated 4 October 2018 among James Hardie International Finance Designated Activity Company the guarantors listed therein Deutsche Bank Trust Company Americas as Trustee and Registrar and Deutsche Bank AG London Branch as Paying Agent and Transfer Agent (filed as Exhibit 99.8 to the Company's Report on Form 6-K filed 8 November 2018 (Commission File Number 001-15240 and incorporated by reference herein)\n2.19\tForm of 3.625% Senior Notes due 2026 ((filed as Exhibit 99.8 to the Company's Report on Form 6-k filed 8 November 2018 (Commission File Number 001-15240 and incorporated by reference herein)\n2.20*\tDescription of Securities Registered Under Section 12 of the Securities Exchange Act of 1934\n4.1\tAmended and Restated James Hardie Industries SE 2001 Equity Incentive Plan (filed as Exhibit 4.1 to the Company's Annual Report on Form 20-F filed on 2 July 2012 (Commission File 001-15240) and incorporated by reference herein)\n4.2\tAmended and Restated James Hardie Industries plc Long Term Incentive Plan 2006 (filed as Exhibit 99.5 to the Company's Report on Form 6-K filed 14 August 2018 (Commission File Number 001-15240 and incorporated by reference herein)\n4.3\tForm of Joint and Several Indemnity Agreement among James Hardie N.V. James Hardie (USA) Inc. and certain indemnitees thereto (filed as Exhibit 4.15 to the Company's Annual Report on Form 20-F filed on 7 July 2005 (Commission File 001-15240) and incorporated by reference herein)\n4.4\tForm of Joint and Several Indemnity Agreement among James Hardie Industries N.V. James Hardie Inc. and certain indemnitees thereto (filed as Exhibit 4.16 to the Company's Annual Report on Form 20-F filed on 7 July 2005 (Commission File 001-15240) and incorporated by reference herein)\n4.5\tForm of Deed of Access Insurance and Indemnity between James Hardie Industries N.V. and supervisory board directors and managing board directors (filed as Exhibit 4.9 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n", "q10k_tbl_115": "Exhibit Number\tExhibit Description\n4.6\tForm of Indemnity Agreement between James Hardie Building Products Inc. and supervisory board directors managing board directors and certain executive officers (filed as Exhibit 4.10 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n4.7\tForm of Irish law-governed Deed of Access Insurance and Indemnity between James Hardie Industries SE a European Company registered in Ireland and its directors company secretary and certain senior employees thereto (filed as Exhibit 10.10 to the Company's Registration Statement on Form F-4 filed on 23 June 2009 (Commission File 333-160177) and incorporated by reference herein)\n4.8\tForm of Deed of Access Insurance and Indemnity between James Hardie Industries plc and certain indemnitees thereto (filed as Exhibit 4.9 to the Company's Annual Report on Form 20-F filed on 21 May 2015 (Commission File 001-15240) and incorporated by reference herein)\n4.9\tDeed of Release - Unions and Banton dated 21 December 2005 by and among James Hardie Industries N.V. Australian Council of Trade Unions Unions New South Wales and Bernard Douglas Banton (filed as Exhibit 4.23 to the Company's Annual Report on Form 20-F filed on 29 September 2006 (Commission File 001-15240) and incorporated by reference herein)\n4.10\tDeed of Release dated 22 June 2006 by and between James Hardie Industries N.V. and The State of New South Wales (filed as Exhibit 4.25 to the Company's Annual Report on Form 20-F filed on 29 September 2006 (Commission File 001-15240) and incorporated by reference herein)\n4.11\tAmended and Restated Final Funding Agreement dated 21 November 2006 by and among James Hardie Industries N.V. James Hardie 117 Pty Ltd The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 99.4 to the Company's Report on Form 6-K filed on 05 January 2007 (Commission File 001-15240) and incorporated by reference herein)\n4.12\tAsbestos Injuries Compensation Fund Amended and Restated Trust Deed dated 14 December 2006 by and between James Hardie Industries N.V. and Asbestos Injuries Compensation Fund Limited (filed as Exhibit 4.22 to the Company's Annual Report on Form 20-F filed on 6 July 2007 (Commission File 001-15240) and incorporated by reference herein)\n4.13\tSecond Irrevocable Power of Attorney dated 14 December 2006 by and between Asbestos Injuries Compensation Fund Limited and The State of New South Wales (filed as Exhibit 4.26 to the Company's Annual Report on Form 20-F filed on 6 July 2007 (Commission File 001-15240) and incorporated by reference herein)\n4.14\tDeed of Accession dated 14 December 2006 by and among Asbestos Injuries Compensation Fund Limited James Hardie Industries N.V. James Hardie 117 Pty Limited and The State of New South Wales (filed as Exhibit 4.27 to the Company's Annual Report on Form 20-F filed on 6 July 2007 (Commission File 001-15240) and incorporated by reference herein)\n4.15\tAmendment to Amended and Restated Final Funding Agreement dated 6 August 2007 by and among James Hardie Industries NV James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 4.22 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n4.16\tDeed Poll dated 11 June 2008 amendment of the Asbestos Injuries Compensation Fund Amended and Restated Trust Deed (filed as Exhibit 4.27 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n4.17\tAmendment to Amended and Restated Final Funding Agreement dated 8 November 2007 by and among James Hardie Industries NV James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 4.23 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n", "q10k_tbl_116": "Exhibit Number\tExhibit Description\n4.18\tAmendment to Amended and Restated Final Funding Agreement dated 11 June 2008 by and among James Hardie Industries NV James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 4.24 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n4.19\tAmended and Restated Final Funding Agreement - Address for Service of Notice on Trustee dated 13 June 2008 (filed as Exhibit 4.25 to the Company's Annual Report on Form 20-F filed on 8 July 2008 (Commission File 001-15240) and incorporated by reference herein)\n4.20\tAmendment to Amended and Restated Final Funding Agreement dated 17 July 2008 by and among James Hardie Industries NV James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 10.27 to the Company's Registration Statement on Form F-4 filed on 23 June 2009 (Commission File 333-160177) and incorporated by reference herein)\n4.21\tDeed of Confirmation dated 23 June 2009 by and among James Hardie Industries N.V James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 10.37 to the Company's Registration Statement on Form F-4/A filed on 10 July 2009 (Commission File 333-160177) and incorporated by reference herein)\n4.22\tAmending Agreement (Parent Guarantee) dated 23 June 2009 by and among Asbestos Injuries Compensation Fund Limited The State of New South Wales and James Hardie Industries N.V. (filed as Exhibit 4.30 to the Company's Annual Report on Form 20-F filed on 30 June 2010 (Commission File 001-15240) and incorporated by reference herein)\n4.23\tDeed to amend the Amended and Restated Final Funding Agreement and facilitate the Authorized Loan Facility dated 9 December 2010 by and among James Hardie Industries SE James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of each of the Compensation Funds (filed as Exhibit 4.25 to the Company's Annual Report on Form 20-F filed on 29 June 2011 (Commission File 001-15240) and incorporated by reference herein)\n4.24\tAICF facility agreement dated 9 December 2010 by and among Asbestos Injuries Compensation Fund Limited ABN 60 Pty Limited Amaca Pty Ltd Amaba Pty Ltd and The State of New South Wales (filed as Exhibit 4.40 to the Company's Annual Report on Form 20-F filed on 29 June 2011 (Commission File 001-15240) and incorporated by reference herein)\n4.25\tFixed and Floating Charge dated 9 December 2010 by and among Asbestos Injuries Compensation Fund Limited ABN 60 Pty Limited Amaca Pty Ltd Amaba Pty Ltd and The State of New South Wales (filed as Exhibit 4.41 to the Company's Annual Report on Form 20-F filed on 29 June 2011 (Commission File 001-15240) and incorporated by reference herein)\n4.26\tDeed to amend the Amended and Restated Final Funding Agreement dated 29 February 2012 by and among James Hardie Industries SE James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of each of the Compensation Funds (filed as Exhibit 4.27 to the Company's Annual Report on Form 20-F filed on 2 July 2012 (Commission File 001-15240) and incorporated by reference herein)\n4.27\tDeed to amend the Amended and Restated Final Funding Agreement dated 28 March 2012 by and among James Hardie Industries SE James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of each of the Compensation Funds (filed as Exhibit 4.28 to the Company's Annual Report on Form 20-F filed on 2 July 2012 (Commission File 001-15240) and incorporated by reference herein)\n", "q10k_tbl_117": "Exhibit Number\tExhibit Description\n4.28\tSummary of Amendments to Amended and Restated Final Funding Agreement dated 20 December 2013 by and among James Hardie Industries NV James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee of the Asbestos Injuries Compensation Fund (filed as Exhibit 4.37 to the Company's Annual Report on Form 20-F filed on 26 June 2014 (Commission File 001-15240) and incorporated by reference herein)\n4.29\tDeed of Amendment dated 27 February 2015 by and among Asbestos Injuries Compensation Fund Limited ABN 60 Pty Limited Amaca Pty Ltd Amaba Pty Ltd and The State of New South Wales (filed as Exhibit 4.32 to the Company's Annual Report on Form 20-F filed on 21 May 2015 (Commission File Number 001-15240) and incorporated by reference herein)\n4.30\tSale and Purchase Agreement related to XI (DL) Holdings GmbH dated 7 November 2017 by and among Xella International S.A. as seller Platin 1391. GmbH (now known as James Hardie Germany GmbH) as purchaser and James Hardie International Group Limited as guarantor (filed as Exhibit 4.30 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n4.31\tDeed of Amendment Amended and Restated Final Funding Agreement dated 19 December 2017 by and among James Hardie Industries plc James Hardie 117 Pty Limited The State of New South Wales and Asbestos Injuries Compensation Fund Limited in its capacity as trustee for each of the Compensation Fund (filed as Exhibit 4.31 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n4.32\tAmendment to Sale and Purchase Agreement dated 13 December 2017 by and among Xella International S.A. as seller Platin 1391. GmbH (now known as James Hardie Germany GmbH) as purchaser and James Hardie International Group Limited as guarantor (filed as Exhibit 4.32 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n4.33\tSecond Amendment and Accession Agreement to the Sale and Purchase Agreement related to XI (DL) Holdings GmbH dated 3 April 2018 by and among Xella International S.A. James Hardie Germany GmbH James Hardie International Group Limited and James Hardie International Finance Designated Activity Company (filed as Exhibit 4.33 to the Company's Annual Report on Form 20-F filed on 22 May 2018 (Commission File 001-15240) and incorporated by reference herein)\n8.1*\tList of significant subsidiaries of James Hardie Industries plc\n12.1*\tCertification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\n12.2*\tCertification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\n13.1*\tCertification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\n15.1*\tConsent of Ernst & Young LLP independent registered public accounting firm\n15.2*\tConsent of KPMG Actuarial\n101.INS*\tInline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)\n101.SCH*\tInline XBRL Taxonomy Extension Schema Document\n101.CAL*\tInline XBRL Taxonomy Extension Calculation Linkbase Document\n"}{"bs": "q10k_tbl_57", "is": "q10k_tbl_42", "cf": "q10k_tbl_59"}None
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class:
Trading Symbol:
Name of each exchange on which registered:
Common stock, represented by CHESS Units of Foreign Securities
JHX
New York Stock Exchange*
CHESS Units of Foreign Securities
JHX
New York Stock Exchange*
American Depositary Shares, each representing one unit of CHESS Units of Foreign Securities
JHX
New York Stock Exchange
* Listed, not for trading, but only in connection with the registered American Depositary Shares, pursuant to the requirements of the U.S. Securities and Exchange Commission
Securities registered or to be registered pursuant to Section 12(g) of the Act.
None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.
None
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the Annual Report:
443,144,740 shares of common stock at 31 March 2020
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☒Yes☐ No
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.☐ Yes ☒No
Note — Checking the box will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.☒Yes☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of 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 such files).☒Yes☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Emerging growth company
☐
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. ☐
† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after 5 April 2012.
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP
☒
International Financial Reporting Standards as issued by the International Accounting
Standards Board
☐
Other
☐
If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:
☐ Item 17 ☐ Item 18
If this is an Annual Report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
James Hardie Industries plc is a world leader in the manufacture of fiber cement siding and backerboard and a market leader in Europe for fiber gypsum products. Our products are used in a number of markets, including new residential construction (single and multi-family housing), manufactured housing, repair and remodeling and a variety of commercial and industrial applications. We manufacture numerous types of fiber cement products with a variety of patterned profiles and surface finishes for a range of applications, including external siding and trim and soffit lining, internal linings, facades and floor and tile underlay. We also manufacture fiber gypsum products that are used in a variety of applications such as dry lining walls, timber frame walls and flooring applications.Our current primary geographic markets include the United States of America (“US,” “USA” or the “United States”), Canada, Australia, New Zealand, the Philippines and Europe.
James Hardie Industries plc is a “public limited company,” incorporated and existing under the laws of Ireland. Except as the context otherwise may require, references in this Annual Report on Form 20-F (this “Annual Report”) to “James Hardie,” the “James Hardie Group,” the “Company,” “JHI plc,” “we,” “our” or “us” refer to James Hardie Industries plc, together with its direct and indirect wholly owned subsidiaries as of the time relevant to the applicable reference.
For certain information about the basis of preparing the financial information in this Annual Report, see “Section 2 – Reading this Report.” In addition, this Annual Report contains statements that constitute “forward-looking statements.” For an explanation of forward-looking statements and the risks, uncertainties and assumptions to which they are subject, see “Section 2 – Reading this Report.” Further, a “Glossary of Abbreviations and Definitions” has also been included under Section 4 of this Annual Report.
The term “fiscal year” refers to our fiscal year ended 31 March of such year; the term “dollars,” “US$” or “$” refers to US dollars; the term “A$” refers to Australian dollars; and the term "EUR" or “€” refers to Euro.
Information contained in or accessible through the websites mentioned in this Annual Report does not form a part of this Annual Report unless we specifically state that it is incorporated by reference herein. All references in this Annual Report to websites are inactive textual references and are for information only.
SELECTED FINANCIAL DATA
We have included in this Annual Report the audited consolidated financial statements of the Company, consisting of our consolidated balance sheets as of 31 March 2020 and 2019, and our consolidated statements of operations and comprehensive income, cash flows and changes in shareholders’ equity (deficit) for each of the years ended 31 March 2020, 2019 and 2018, together with the related notes thereto. The consolidated financial statements included in this Annual Report have been prepared in accordance with accounting principles generally accepted in the US (“US GAAP”).
The selected consolidated financial information, summarized below, for the five most recent fiscal years has been derived in part from the Company’s consolidated financial statements. You should read the selected consolidated financial information in conjunction with the Company’s consolidated financial statements and related notes contained in “Section 2 – Consolidated Financial Statements” and with the information provided in “Section 2 – Management’s Discussion and Analysis.” Historic financial data is not necessarily indicative of our future results and you should not unduly rely on it.
Income from operations and net income include the following: asbestos adjustments, Asbestos Injuries Compensation Fund (“AICF”) selling, general and administrative (“SG&A”) expenses, AICF interest income (expense), loss on early debt extinguishment, Fermacell acquisition costs, asset impairment charges and product line discontinuation expenses, New Zealand weathertightness claims and related tax adjustments.
(Millions of US dollars)
Other Financial Data
2020
2019
2018
2017
2016
Asbestos adjustments (expense) benefit
$
(58.2
)
$
(22.0
)
$
(156.4
)
$
40.4
$
5.5
AICF SG&A expenses
(1.7
)
(1.5
)
(1.9
)
(1.5
)
(1.7
)
AICF interest income (expense)
1.4
2.0
1.9
(1.1
)
(0.3
)
Loss on early debt extinguishment
—
(1.0
)
(26.1
)
—
—
Fermacell acquisition costs
—
—
(10.0
)
—
—
Asset impairment charges and product line discontinuation expenses
(84.4
)
(29.5
)
—
—
—
New Zealand weathertightness claims
—
—
—
—
(0.5
)
Tax adjustments
$
31.6
$
(19.7
)
$
47.3
$
(9.9
)
$
(1.5
)
For additional information on asbestos adjustments, AICF SG&A expenses, AICF interest income (expense), loss on early debt extinguishment, asset impairments and product line discontinuation and New Zealand weathertightness, see “Section 2 – Management’s Discussion and Analysis” and Notes 2, 7, 8, 11, 13, 15 and 19 to our consolidated financial statements in Section 2.
2
Net cash provided by operating activities and net cash used in investing activities have been revised for fiscal years 2019 and 2018 to correct the amount of purchases of property, plant and equipment which were not yet paid. The Company concluded that the error did not have a material impact on the previously reported statement of cash flows for fiscal years 2019 and 2018 or affect the trend of financial results. See Note 2 to our consolidated financial statements in Section 2 for details on the immaterial change in statement of cash flow line items.
3
Asia Pacific Fiber Cement segment includes all fiber cement products manufactured in Australia, New Zealand and the Philippines and sold in Australia, New Zealand, Asia, the Middle East and various Pacific Islands.
4
Excludes the Australian Pipes business which we sold in the first quarter of fiscal year 2016.
5
Europe Building Products segment includes our Fermacell business acquired in April 2018 and our fiber cement products manufactured in the United States that are sold in Europe.
6
The Other Businesses segment ceased to be an operating and reportable segment effective 31 March 2020 due to the Company's completion of its exit of its non-fiber cement manufacturing and sales activities in North America, including fiberglass windows.
James Hardie Industries plc is incorporated and existing under the laws of Ireland. As an Irish plc, we are governed by the Irish Companies Act 2014 and we operate under the regulatory requirements of numerous jurisdictions and organizations, including the Australian Securities Exchange ("ASX"), Australian Securities and Investments Commission ("ASIC"), the New York Stock Exchange (“NYSE”), the United States Securities and Exchange Commission (“SEC”), the Irish Takeover Panel and various other rulemaking bodies.
The address of our registered office in Ireland is Europa House, Second Floor, Harcourt Centre, Harcourt Street, Dublin 2, D02 WR20, Ireland. The telephone number is +353 1411 6924. Our agent in the United States is CT Corporation. Its office is located at 28 Liberty Street - 42nd Floor, New York, New York 10005. The address of our registered office in Australia is Level 20, 60 Castlereagh Street, Sydney NSW 2000 and the telephone number is +61 2 8845 3360. Our share registry is maintained by Computershare Investor Services Pty Ltd. All inquiries and correspondence regarding holdings should be directed to: Computershare Investor Services Pty Ltd, Level 5, 115 Grenfell Street, Adelaide, SA 5000; telephone: +61 3 9415 4000 or toll free within Australia: 1300 855 080. Our American Depositary Receipt ("ADR") register is maintained by Deutsche Bank. All inquiries and correspondence regarding American Depositary Shares ("ADSs") should be directed to Deutsche Bank, 60 Wall Street, New York, New York 10005, United States; telephone 1-212-250-9100.
Our History
James Hardie was established in 1888 as an import business, listing on the ASX in 1951 to become a publicly owned company in Australia. After becoming a listed company, we built a diverse portfolio of building and industrial products. In the late-1970s, we pioneered the development of asbestos-free fiber cement technology and in the early-1980’s began designing and manufacturing a wide range of fiber cement building products that made use of the benefits that came from the products’ durability, versatility and strength. Using the technical and manufacturing expertise developed in Australia, we expanded into the United States, opening our first fiber cement plant in Fontana, California in February 1990. Since then, we have expanded our product portfolio and global footprint, with fiber cement manufacturing plants across the United States, Australia, New Zealand and the Philippines. In April 2018, we completed the acquisition of Fermacell, a market leader in fiber gypsum and cement-bonded boards in Europe. Today, James Hardie is a leading global manufacturer of a wide range of fiber cement and fiber gypsum building products in each of the United States, Australia, Europe, New Zealand and the Philippines.
Our Agreement with Asbestos Injuries Compensation Fund
Prior to 1987, ABN 60 Pty Limited (formerly James Hardie Industries Limited, then the ultimate parent company of the James Hardie Group) (“ABN 60”) and two of its former subsidiaries, Amaca Pty Limited (“Amaca”) and Amaba Pty Limited (“Amaba”) (collectively, the “Former James Hardie Companies”), manufactured products in Australia that contained asbestos. The manufacture and sale of these products has resulted in liabilities for the Former James Hardie Companies in Australia.
In February 2007, our shareholders approved the Amended and Restated Final Funding Agreement (“AFFA”) entered into on 21 November 2006 to provide long-term funding to AICF for the compensation of proven Australian-related personal injuries for which the Former James Hardie Companies are found liable. AICF, an independent trust, subsequently assumed ownership of the Former James Hardie Companies. We do
not own AICF, however, we are entitled to appoint three directors, including the Chairman, and the New South Wales (“NSW”) Government is entitled to appoint two directors.
Under the terms of the AFFA, subject to the operation of an annual cash flow cap, James Hardie 117 Pty Ltd (the “Performing Subsidiary”) will make annual payments to AICF. The amount of these annual payments is dependent on several factors, including our free cash flow (as defined in the AFFA), actuarial estimations, actual claims paid, operating expenses of AICF, changes in the AUD/USD exchange rate and the annual cash flow cap. JHI plc owns 100% of the Performing Subsidiary and guarantees the Performing Subsidiary’s obligation. As a result, for US GAAP purposes, we consider JHI plc to be the primary beneficiary of AICF.
Although we have no legal ownership in AICF, for financial reporting purposes, our interest in AICF is considered variable and we consolidate AICF due to our pecuniary and contractual interests in AICF as a result of the funding arrangements outlined in the AFFA. For additional information on our consolidation of AICF and asbestos-related assets and liabilities, see Note 2 to our consolidated financial statements.
Corporate Structure
The following diagram summarizes our corporate structure at 31 March 2020:
We are a world leader in the manufacture of fiber cement building materials. Based on net sales, we believe we are the largest manufacturer of fiber cement products and systems for internal and external building construction applications in the United States, Australia, New Zealand, and the Philippines. We market our fiber cement products and systems under various brand names, such as HardiePlank®, HardiePanel®, HardieTrim® and HardieBacker® boards, and other brand names such as Aspyre Collection by James Hardie™, Artisan®, Reveal®, Cemplank®, Scyon® and Linea®. We are also a market leader in the European premium dry lining business, especially in Germany and Switzerland. We market our fiber gypsum and cement-bonded boards under the Fermacell® brand and our fire-protection boards under the AESTUVER® brand.
The breakdown of our net sales by operating segment for each of our last three fiscal years is as follows:
(Millions of US dollars)
2020
2019
2018
North America Fiber Cement
$
1,816.4
$
1,676.9
$
1,578.1
Asia Pacific Fiber Cement
418.4
446.8
425.4
Europe Building Products
371.4
368.3
36.3
Other Businesses1
0.6
14.6
14.7
Total Net Sales
$
2,606.8
$
2,506.6
$
2,054.5
____________
1
The Other Businesses segment ceased to be an operating and reportable segment effective 31 March 2020.
Products
We manufacture fiber cement, fiber gypsum and cement bonded boards. Our fiber cement building materials includes a wide-range of products for both internal and external use across a broad range of applications, including: external siding, internal walls, floors, ceilings, soffits, trim, decking and facades. While there are some market specific products, our core fiber cement products, planks and flat panels are sold across all of the markets in which we operate. Our fiber gypsum and cement-bonded boards are used mainly for interior applications such as dry lining walls, walls in timber frame buildings and flooring solutions. In addition, our cement-bonded boards are used in exterior and industrial applications as well as for fire protection.
Products Used in External Applications
We developed a proprietary technology platform that enables us to produce thicker yet lighter-weight fiber cement products that are generally easier to handle than most traditional building products. Further, we believe that our fiber cement products provide certain durability and performance advantages leading to improved maintenance, while offering comparable aesthetics to competing products, such as wood, and superior aesthetics when compared to vinyl siding.
Performance and design advantages:
•
Our fiber cement products exhibit resistance to the damaging effects of moisture, fire, impact and termites compared to natural and engineered wood and wood-based products;
•
Competing products do not duplicate fiber cement aesthetics and the characteristics necessary for effectively accepting paint applications;
•
Our fiber cement products provide the ability to imprint designs that closely resemble the patterns and profiles of traditional building materials such as wood and stucco;
The surface properties of our products provide an effective paint-holding finish, especially when compared to natural and engineered wood products, allowing for greater periods of time between necessary maintenance and repainting; and
•
Compared to masonry construction, fiber cement is lightweight, physically flexible and can be cut using readily available tools, making our products more appealing across a broad range of architectural styles, be it of timber or steel-framed construction.
We believe the benefits associated with our fiber cement products have enabled us to gain a competitive advantage over competing products.
Products Used in Internal Applications
Compared to natural and oriented strand board ("OSB") and wood-based products, we believe our product range for internal applications provide the same general advantages provided by our products for external applications. In addition, our fiber cement products for internal applications exhibit less movement in response to exposure to moisture and impact damage than many competing products, providing a more consistent and durable substrate on which to install tiles. Further, we believe our ceramic tile underlayment products exhibit better handling and installation characteristics compared to fiberglass mesh cement boards. We believe our fiber gypsum products offer superior stability, fire safety and sound insulation properties compared to OSB and gypsum plaster boards. Furthermore, we believe our fiber gypsum flooring solutions offer superior handling properties, especially in the modernization of existing buildings, compared to wet screed solutions.
Significant New Products
In the United States, new products released over the last three years include Hydrodefense HardieBackerTM, expanded ColorPlus offering through the Dream CollectionTM and Statement CollectionTM higher ventilation VentedPlus HardieSoffitTM. In addition, we also launched the Aspyre Collection by James Hardie™, which brings together the modernity of our Reveal® Panel System (now available with color matching Reveal®Surround Trim and Exposed Fasteners in 24 colors) with the traditional profiles of our Artisan® siding products (in addition to V-Groove and lap siding, the range has been expanded to include Bevel Channel, Square channel, Shiplap and Beaded lap).
In Australia and New Zealand, extensions to the existing growing product lines Stria® cladding and Axon® cladding have been launched to increase design versatility in line with Modern design trends with Stria® Splayed 255mm and Axon® Grained 133mm cladding, respectively. More recently, we expanded our exteriors offer with looks, ExoTec® VeroTM façade panel, a pre-finished concrete look panel and EasyTex™ panel, a revolutionary fiber cement panel embedded with a fine texture to deliver a modern render design aesthetic.
In Australia, we have also launched performance systems and accessories as part of our HardieSmart® range that enable high performance solutions with low wall footprint for narrow land lots, these aim to include HardieFire® Insulation, HardieBreak® Thermal Strip, as well as the HardieSmart® Boundary, Aged Care, Intertenancy and ZeroLot® Wall Systems. Lastly, building on New Zealand’s success, RABTM board was launched in Australia, a fiber cement rigid air barrier that can be used beneath cladding,providing added protection against the elements. This panel is sealed with James Hardie’s innovative CoreShield® penetrating sealer technology.
In New Zealand, over the same timeframe, the growing Secura® flooring line in Australia was launched in the region including both Secura® Interior Flooring and Secura® Exterior Flooring, and the Trim and RAB® lines were expanded by launching Axent® Fascia, HomeRABTM 4.5mm Pre Cladding, respectively.
In the Philippines, new products released over the past three years include the Hardieflex® Filled Wall System (a permanent formwork wall system tailored for the Philippines market), Hardieflex® Wet Area Walls lining
and Hardieflex® Vented Eaves. An improved version of their wall jointing compound has been launched under the HardieFlex® putty trademark.
In Europe, new fiber cement products released over the past three years include HardieWindbreaker™ sheathing board and associated accessories, a solution to provide the next generation in weather defense for buildings, along with HardieFoamTM, a solution for install of HardieBacker®. In our Fermacell business, new products released over the last three years include AESTUVER® Tx board, a key milestone for our fire protection boards offering.
Principal Markets for Our Products
United States and Canada
In the US and Canada, the largest application for fiber cement building products is in external siding for the residential building industry. The external siding market includes various cladding types, including fiber cement, vinyl, natural wood, OSB, hardboard, brick, stucco and stone. Based on industry estimates, vinyl has the largest share of the US and Canadian external siding markets. External siding typically occupies a significant square footage component of the outside of every building. Selection of siding material is based on installed cost, durability, aesthetic appeal, strength, weather resistance, maintenance requirements and cost, insulating properties and other features. Different regions of the US and Canada show a preference amongst siding materials according to economic conditions, weather, materials availability and local preference.
Demand for siding in the US and Canada fluctuates based on the level of new residential housing starts and the repair and remodeling activity of existing homes. The level of activity is generally a function of interest rates and the availability of financing to homeowners to purchase a new home or make improvements to their existing homes, inflation, household income and wage growth, unemployment levels, demographic trends, gross domestic product growth and consumer confidence. The sale of fiber cement products in North America accounts for the largest portion of our net sales, accounting for 70%, 67% and 77% of our total net sales in fiscal years 2020, 2019 and 2018, respectively. The year-over-year change from fiscal year 2018 to fiscal year 2019 in the percentage of net sales attributable to our North America sales was primarily a result of our Fermacell acquisition.
In the US and Canada, competition in the external siding market comes primarily from substitute products, such as natural wood or OSB, vinyl, stucco and brick. We believe we can continue to increase our market share from these competing products through targeted marketing programs designed to educate customers on our brand and the performance, design and cost advantages of our products.
Asia Pacific
In the Asia Pacific region, we principally sell into the Australian, New Zealand and Philippines markets, with the residential building industry representing the principal market for fiber cement products. The largest applications of fiber cement across our three primary markets are in external cladding, internal walls, ceilings, floors, soffits and facades. We believe the level of activity in this industry is generally a function of interest rates, inflation, household income and wage growth, unemployment levels, demographic trends, gross domestic product growth and consumer confidence. Demand for fiber cement building products is also affected by the level of new housing starts and renovation activity.
In Australia, competition from imports and two locally based fiber cement manufacturers has intensified over the past decade. Additionally, we continue to see competition from natural and engineered wood, wallboard, masonry and brick products.
In New Zealand, we continue to see competition intensifying as fiber cement imports have become more cost competitive and overseas manufacturers look to supplement their primary operating environments with additional markets.
In the Philippines, we have seen fiber cement gain broader acceptance across a range of product applications in the last decade, leading to additional fiber cement products entering the market. We see fiber cement having long-term growth potential not only in the Philippines, but across Asia and the Middle East, as the benefits of its light-weight and durability become more widely recognized.
Europe
In April 2018, we completed the acquisition of Fermacell, a market leader in fiber gypsum and cement-bonded boards in Europe. Similar to James Hardie’s fiber cement products, we believe Fermacell’s fiber gypsum boards deliver superior performance relative to competitive products, such as gypsum plaster and OSB boards.
Fermacell’s products comprise fiber gypsum and cement-bonded boards, two complementary products in the high performance board space, mainly used in: (1) timber frame construction; (2) dry lining applications; (3) Do-It-Yourself ("DIY"); and (4) structural fire protection. Fermacell’s products are sold into the residential repair and remodel, commercial and residential new construction markets.
Fermacell’s key markets in Europe include Germany, Switzerland, UK, Denmark, France, Belgium, Netherlands and Luxembourg, where we sell our products to residential and commercial new-build as well as to repair and remodel. In addition, our fire protection AESTUVER® boards are sold to projects worldwide.
In Europe, our fiber cement building products are used in both residential and commercial building applications in external siding, internal walls, floors and soffits. We compete in most segments, except roofing, and promote the use of fiber cement products against traditional masonry and wood-based products. Since we commenced selling our products in Europe in fiscal year 2004, we have continued to work to grow demand for our products by building awareness among distributors, builders and contractors.
Seasonality
On a consolidated basis we do not have significant seasonality, however we do see shifts in our segments within the year. Our businesses typically follow activity levels in the building and construction industry. In the United States, the calendar quarters ending in December and March generally reflect reduced levels of building activity depending on weather conditions. In Australia and New Zealand, the calendar quarter ending in March is usually the quarter most affected by a slowdown due to summer holidays. In the Philippines, construction activity diminishes during the wet season from June through September and during the last half of December due to the slowdown in business activity over the holiday period. In Europe, the quarter ending September is affected by summer holidays and the quarter ending December is affected by a slow-down in construction activities around calendar year-end holidays. Also, general industry patterns can be affected by weather, economic conditions, industrial disputes and other factors. See “Section 3 – Risk Factors.”
Raw Materials
The principal raw materials used in the manufacture of our fiber cement products are cellulose fiber (wood-based pulp), silica (sand), Portland cement and water. The key raw materials used in the manufacture of our fiber gypsum products are gypsum, recycled paper and water. We have established supplier relationships for all of our raw materials across the various markets in which we operate, and we do not anticipate having difficulty in obtaining our required raw materials from these suppliers. The purchase price of these raw
materials and other materials can fluctuate depending on the supply-demand situation at any given point in time.
We work hard to reduce the effect of both price fluctuations and supply interruptions by entering into contracts with qualified suppliers and through continuous internal improvements in both our products and manufacturing processes.
Cellulose Fiber
Reliable access to specialized and consistent quality pulp is critical to the production of fiber cement building materials. As a result of our many years of experience and expertise in the industry, we share our internal expertise with pulp producers in New Zealand, the United States, Canada and Chile to ensure they are able to provide us with a highly specialized and proprietary formula crucial to the reinforcing cement matrix of our fiber cement products. We have confidentiality agreements with our pulp producers, and we have obtained patents in the United States and in certain other countries covering certain unique aspects of our pulping formulas and processes that we believe cannot adequately be protected through confidentiality agreements. However, we cannot be assured that our intellectual property and other proprietary information will be protected in all cases. See “Section 3 – Risk Factors.”
Silica
High purity silica is sourced locally by the various production plants. In the majority of locations, we use silica sand as a silica source. In certain other locations, however, we process quartz rock and beneficiate silica sand to ensure the quality and consistency of this key raw material.
Cement
Cement is acquired in bulk from local suppliers. We continue to evaluate options on agreements with suppliers for the purchase of cement that can lock in our cement prices over longer periods of time.
Water
We primarily use local water supplies and process all wastewater to comply with environmental requirements.
Gypsum
The primary types of gypsum used in the production of our fiber gypsum products are natural and synthetic gypsum. Natural gypsum is extracted and processed in Germany and Spain. Synthetic gypsum is obtained from coal-fired power plants in Germany, Poland and the Netherlands. While synthetic gypsum will be phased out due to the coal power plant phase-out in the European Union, we are well positioned for the future with natural gypsum sources. In Germany, we have secured long-term contracts for the supply of natural gypsum and we have invested in a natural gypsum mine in Spain.
Recycled Paper
Recycled paper is generally acquired from local suppliers and we currently maintain long-term contracts with our key suppliers.
The principal markets for our fiber cement products are the United States, Australia, New Zealand, the Philippines, Canada, and parts of Europe, including the United Kingdom, France, Denmark and Germany. In addition, in the past fiscal year, we have sold fiber cement products in several other markets, including Switzerland, the Middle East, South Korea, Taiwan, Hong Kong and various Pacific Islands. The principal markets for our fiber gypsum products are in Europe, including Germany, Switzerland, Denmark, France, Belgium, Netherlands, Luxembourg and the United Kingdom.
Our brand names, customer education in comparative product advantages, differentiated product range and customer service, including technical advice and assistance, provide the basis for our marketing strategy.
We offer our customers support through a specialized fiber cement and fiber gypsum sales force and customer service infrastructure in North America, Australia, New Zealand, the Philippines and Europe.
Our customer service infrastructure includes inbound customer service support coordinated nationally in each country, and is complemented by outbound telemarketing capability. Within each regional market, we provide sales and marketing support to building products dealers and lumber yards and also provide support directly to the customers of these distribution channels, principally homebuilders and building contractors.
We maintain dedicated regional sales management teams in our major sales territories, with our national sales managers and national account managers, together with regional sales managers and sales representatives, maintaining relationships with national and other major accounts. Our various sales forces, which in some instances manage specific product categories, include skilled trades people who provide on-site technical advice and assistance.
In North America, we sell fiber cement products for new residential construction predominantly to distributors, which then sell these products to dealers or lumber yards. This two-step distribution process is supplemented with direct sales to dealers and lumber yards as a means of accelerating product penetration and sales. Repair and remodel products in North America are typically sold through the large home center retailers and specialist distributors. Our products are distributed across North America primarily by road and, to a lesser extent, by rail.
In Australia and New Zealand, both new construction and repair and remodel products are generally sold directly to distributor/hardware stores and lumber yards rather than through the two-step distribution process. In the Philippines, a network of thousands of small to medium size retail outlets sell our fiber cement products to consumers, builders and real estate developers, although in recent years, DIY type stores have started to enter the Philippines market. The physical distribution of our product in each country is primarily by road, rail or sea transport. Products manufactured in Australia, New Zealand and the Philippines are also exported to a number of markets in Asia, various Pacific Islands, and the Middle East by sea transport.
In Europe, both new construction and repair and remodel products are primarily sold to builder’s merchants and DIY type stores. These customers then sell the products to applicators such as dry liners, timber frame companies, smaller applicators and end consumers. Our products are distributed across Europe primarily by road and rail and, to a lesser extent, by sea transport.
Despite the fact that distributors and dealers are generally our direct customers, we also aim to increase primary demand for our products by marketing our products directly to homeowners, architects and builders. We encourage them to specify and install our products because of the quality and craftsmanship of our products.
Geographic expansion of our fiber cement business has occurred in markets where framed construction is prevalent for residential applications or where there are opportunities to change building practices from masonry to framed construction. Expansion is also possible where there are direct substitution opportunities irrespective of the methods of construction. Our entry into the Philippines is an example of the ability to substitute fiber cement for an alternative product (in this case plywood). With the exception of our current major markets, as well as Japan and certain rural areas in Asia, Scandinavia, and Eastern Europe, most markets in the world principally utilize masonry construction for external walls in residential construction. Accordingly, further geographic expansion depends substantially on our ability to provide alternative construction solutions and for those solutions to be accepted in those markets.
Dependence on Trade Secrets and Research and Development (“R&D”)
We pioneered the successful development of cellulose reinforced fiber cement and, since the early-1980s, have progressively introduced products developed as a result of our proprietary product formulation and process technology. The introduction of differentiated products is one of the core components of our global business strategy. This product differentiation strategy is supported by our significant investment in R&D activities.
We view spending on R&D as the key to sustaining our existing product leadership position, by providing a continuous pipeline of innovative new products and technologies with sustainable performance and design advantages over our competitors. Further, through our investments in new process technology or by modifying existing process technology, we aim to keep reducing our capital and operating costs and to find new ways to make existing and new products. As such, we expect to continue allocating significant funding to these endeavors.
Our current patent portfolio is based mainly on fiber cement compositions, associated manufacturing processes and the resulting products. Our non-patented technical intellectual property consists primarily of our operating and manufacturing know-how and raw material and operating equipment specifications, all of which are maintained as trade secret information. We have enhanced our abilities to effectively create, manage and utilize our intellectual property and have implemented a strategy that increasingly uses patenting and trade secret protection to protect and increase our competitive advantage.
In addition, we have a variety of industrial, commercial and financial contracts relating to our proprietary manufacturing processes. While we are dependent on the competitive advantage that these items provide as a whole, we are not dependent on any one of them individually and do not consider any one of them individually to be material. We do not materially rely on intellectual property licensed from any outside third parties. However, we cannot assure that our intellectual property and other proprietary information will be protected in all cases. In addition, if our R&D efforts fail to generate new, innovative products or processes, our overall profit margins may decrease and demand for our products may fall. See “Section 3 – Risk Factors.”
Governmental Regulation
As an Irish plc, we are governed by the Irish Companies Act 2014 and are also subject to all applicable European Union level legislation. We also operate under the regulatory requirements of numerous jurisdictions and organizations, including the ASX, ASIC, the NYSE, the SEC, the Irish Takeover Panel and various other federal, state, local and foreign rulemaking bodies. See “Section 3 – Constitution” for additional information regarding the Irish Companies Act 2014 and regulations to which we are subject.
Environmental, Health and Safety Regulation
Our operations and properties are subject to extensive federal, state, local and foreign environmental protection, health and safety laws, regulations and ordinances governing activities and operations that may
have adverse environmental effects. As it relates to our operations, regulated material, including wastewater and air emissions, may be produced at some of our manufacturing plants. The wastewater produced from our manufacturing plants is internally recycled and reused before eventually being discharged to publicly owned treatment works, a process which is monitored by us, as well as by regulators. In addition, we actively monitor air emissions and other regulated materials produced by our plants so as to ensure compliance with the various environmental regulations under which we operate.
Some environmental laws provide that a current or previous owner or operator of real property may be liable for the costs of investigation, removal or remediation of certain regulated materials on, under, or in that property or other impacted properties. In addition, persons who arrange, or are deemed to have arranged, for the disposal or treatment of certain regulated materials may also be liable for the costs of investigation, removal or remediation of the regulated materials at the disposal or treatment site, regardless of whether the affected site is owned or operated by such person. Environmental laws often impose liability whether or not the owner, operator, transporter or arranger knew of, or was responsible for, the presence of such regulated materials. Also, third parties may make claims against owners or operators of properties for personal injuries, property damage and/or for clean-up associated with releases of certain regulated materials pursuant to applicable environmental laws and common law tort theories, including strict liability.
In the past, from time to time, we have received notices of alleged discharges in excess of our water and air permit limits. In each case, and in compliance with our Environmental Policy, we have addressed the concerns raised in those notices, in part, through enhanced administrative controls and/or capital expenditures intended to prevent future discharges in excess of permitted levels and, on occasion, the payment of minor associated fines.
Environmental compliance costs in the future will depend, in part, on continued oversight of operations, expansion of operations and manufacturing activities, regulatory developments and future requirements that cannot presently be predicted.
JHI plc is incorporated and domiciled in Ireland and the table below sets forth our significant subsidiaries, all of which are wholly-owned by JHI plc, either directly or indirectly, as of 30 April 2020.
Name of Company
Jurisdiction of
Establishment
Jurisdiction of
Tax Residence
Fermacell B.V.
Netherlands
Netherlands
Fermacell Schraplau GmbH
Germany
Germany
James Hardie 117 Pty Ltd
Australia
Australia
James Hardie Australia Pty Ltd
Australia
Australia
James Hardie Building Products Inc.
United States
United States
James Hardie Europe B.V.
Netherlands
Netherlands
James Hardie Europe GmbH
Germany
Germany
James Hardie Europe Holdings GmbH
Germany
Germany
James Hardie Holdings Limited
Ireland
Ireland
James Hardie International Finance Designated Activity Company
We believe we have some of the largest and lowest cost fiber cement manufacturing plants across the United States, Australia, New Zealand and the Philippines, with our plants servicing both domestic and export markets. We also have six manufacturing plants in Europe.Our plants are ideally located to take advantage of established transportation networks, allowing us to distribute our products into key markets, while also providing easy access to key raw materials.
Manufacturing Capacity
At 31 March 2020, we had manufacturing facilities at the following locations:
Plant Location
Owned /
Leased
Nameplate Capacity
(mmsf)1
United States fiber cement 2
Cleburne, Texas
Owned
666
Peru, Illinois
Owned
560
Plant City, Florida
Owned
600
Pulaski, Virginia
Owned
600
Reno, Nevada
Owned
300
Tacoma, Washington
Owned
500
Waxahachie, Texas
Owned
360
Fontana, California
Owned
250
Summerville, South Carolina
Owned
3
190
Asia Pacific fiber cement
Australia
Rosehill, New South Wales
Owned
180
Carole Park, Queensland
Owned
4
160
New Zealand
Auckland
Leased
5
75
Philippines
Cabuyao City
Owned
6
172
Europe fiber gypsum
Münchehof, Germany
Owned
441
Orejo, Spain
Owned
275
Wijchen, the Netherlands
Owned
273
Siglingen, Germany
Owned
7
154
Other
Calbe, Germany
Owned
8
41
Schraplau, Germany
Owned
9
N/A
____________
1
The calculated annual nameplate capacity in the United States, Europe and Asia Pacific is based on management’s historical experience with our production process and is calculated assuming continuous operation, 24 hours per day, seven days per week, producing 5/16” medium density product at a targeted operating speed. No accepted industry standard exists for the calculation of our fiber cement, fiber gypsum and cement bonded board manufacturing facility nameplate, design and utilization capacities.
2
In the fourth quarter of fiscal year 2018, we announced a Greenfield capacity project in Prattville, Alabama. The expected commissioning date will be in fiscal year 2022. This project will add an additional nameplate 600 mmsf to our manufacturing capacity. This incremental capacity is not included in the table above.
3
On 5 May 2020, we announced our operational decision to shut down production at our Summerville, South Carolina plant. We expect the plant to close in mid calendar year 2020.
In the fourth quarter of fiscal year 2018, we announced an A$28.5 million (US$22.8 million) Brownfield expansion project at our Carole Park, Queensland facility. This expansion project was completed in the third quarter of fiscal year 2020. We anticipate we will commission this sheet machine in early fiscal year 2022. This incremental capacity is not included in the table above.
5
On 5 May 2020, we announced our strategic decision to move to a regional model for the manufacture and supply of fiber cement products for the New Zealand Market. We will cease all manufacturing of products in New Zealand under this model and shift manufacturing from Auckland, New Zealand to our Rosehill and Carole Park plants in Australia. The Auckland leases expire on 22 March 2026.
6
The land on which our Philippines fiber cement plant is located is owned by Ajempa Holding Inc. (“Ajempa”), a related party. Ajempa is 40% owned by our operating entity, James Hardie Philippines Inc., and 60% owned by the James Hardie Philippines Retirement Fund. James Hardie Philippines Inc. owns 100% of the fixed assets on the land owned by Ajempa.
7
On 5 May 2020, we announced the temporary closure of our Siglingen, Germany plant.
Our Schraplau, Germany facility is a raw materials processing facility for our fiber gypsum plants. As a result, no annual nameplate capacity is available.
We continually evaluate the capacity required to service the housing markets in which we operate to ensure we meet demand and achieve our market penetration objectives. For a discussion of significant active and recently completed capacity expansion projects, see “Capital Expenditures” below.
Management has determined that for measuring the annual design capacity of the fiber cement and fiber gypsum network, the calculation should incorporate our expected production based upon our historical experience with certain factors such as demand, product mix of varying thickness and density, batch size, plant availability, differing production speeds and downtime expectations.
Based on the methodology noted above, for the year ended 31 March 2020 and 2019, we had an annual fiber cement flat sheet design capacity of 4,330 mmsf and 4,060 mmsf in the United States, respectively, and 730 mmsf and 707 mmsf in Asia Pacific, respectively. For the years ended 31 March 2020 and 2019, we had an annual design capacity of 790 mmsf and 800 mmsf, respectively, for our European fiber gypsum plants. It is important to note that annual design capacity does not necessarily reflect the actual capacity utilization rates of our manufacturing facilities. Actual utilization is calculated using actual production, which is affected by factors such as demand, product mix, batch size, plant availability and production speeds. For fiscal year 2020, actual capacity utilization across our fiber cement and fiber gypsum plants was an average of 79%, 77% and 90% in the United States, Europe and Asia Pacific, respectively. For fiscal year 2019, actual capacity utilization across our fiber cement and fiber gypsum plants was an average of 84%, 75% and 95% in the United States, Europe and Asia Pacific, respectively.
Mines
In North America, we lease silica quartz mine sites in Tacoma, Washington and Reno, Nevada. The lease for our quartz mine in Tacoma, Washington expires in February 2022 (with additional options to renew). The lease for our silica quartz mine site in Reno, Nevada expires in January 2024. We also own property in Victorville, California which could be mined for silica. As of 30 April 2020, we have not begun to mine this site and have no immediate plans to do so. We continue to lease a parcel of land in Victorville, California adjacent to and for access to our owned property, as well as providing an equipment area for mining operations.
As a mine operator in the US, we are required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), and rules promulgated by the SEC implementing that section of the Dodd-Frank Act, to provide certain information concerning mine safety violations and other regulatory matters concerning the operation of our mines. During fiscal year 2020, we did not receive any notices, citations, orders, legal action or other communication from the US Department of Labor’s Mine Safety and Health Administration that would necessitate additional disclosure under Section 1503(a) of the Dodd-Frank Act. Similarly, we have not experienced any mining-related fatalities in our mining operations.
There are currently no pending legal actions before the Federal Mine Safety and Health Review Commission related to our mining operations.
Our Fermacell business has an operating license for a mining facility in Schraplau, Germany, however no active mining is being undertaken, or allowed with respect to the former owner FELS-WERKE GmbH, and the mine is only being used for storage of material. We also have an investment in a natural gypsum mine in Spain.
Our New Zealand business quarries and removes sand from a site in North Auckland according to rights to do so for a period through until 31 March 2021.
Capital Expenditures
We utilize a mix of operating cash flow and debt facilities to fund our capital expenditure projects and investments. We continuously invest in safety, equipment maintenance and upgrades, and capacity to ensure continued environmental compliance and operating effectiveness of our plants. The following table sets forth our capital expenditures for the three most recent fiscal years:
(Millions of US dollars)
2020
2019
2018
North America Fiber Cement
$
137.1
$
246.8
$
182.5
Asia Pacific Fiber Cement
32.2
41.1
24.9
Europe Building Products
23.5
26.0
—
Other Businesses
—
1.5
2.0
R&D and Corporate
1.0
2.1
0.8
Total Capital Expenditures
$
193.8
$
317.5
$
210.2
Significant active capital expenditures
At 31 March 2020, the following significant capital expenditures related to capacity projects remain in progress:
Project Description
Approximate
Investment
(US millions)
Investment
to date
(US millions)
Project
Start Date
Expected
Commission
Date
Expected
Nameplate Capacity
Increase1 (mmsf)
Prattville Greenfield expansion
$
240.0
$
214.1
Q4FY18
FY22
600
____________
1
The expected nameplate capacity increase is based on management’s historical experience with our production process and is calculated assuming continuous operation, 24 hours per day, seven days per week, producing 5/16” medium density product at a targeted operating speed. It does not take into account factors such as product mix with varying thickness and density, batch size, plant availability and production speeds.
Significant completed capital expenditure projects
The following is a list of significant capital expenditure projects we have invested in over the three most recent fiscal years:
Project Description
Total
Investment
(US Millions)
Fiscal Year of
Expenditure
Summerville recommissioning
$
15.7
FY17 - FY18
Philippines capacity expansion
18.0
FY16 - FY19
Tacoma Greenfield expansion
147.0
FY17 - FY20
Carole Park Brownfield expansion
$
21.6
FY19 - FY20
Capital Divestitures
During the three most recent fiscal years, we did not make any material capital divestitures. In fiscal year 2020, a US$61.7 million impairment charge was recorded to Property, Plant and Equipment associated with the closures of our Summerville, USA and Penrose, New Zealand manufacturing facilities, as well as, the closure of James Hardie Systems and the impairment of additional non-core assets. We do not consider the exit from our Summerville, USA plant or from the James Hardie Systems business a material divestiture or a strategic shift in the nature of our operations. Further, we do not consider the closure of our Penrose, New Zealand plant a material divestiture. We announced our plans to close the plant due to our strategic decision to shift to an import sales model with product to be manufactured and imported from Australia.
In fiscal year 2019, a US$8.7 million impairment charge was recorded to Property, Plant and Equipment which includes US$6.1 million associated with our decision to cease production of our fiberglass windows business and US$2.6 million related to the discontinuation of our MCT product line. We do not consider the exit from our fiberglass windows business or our MCT product line a material divestiture or strategic shift in the nature of our operations. See Note 8 to our consolidated financial statements in Section 2 for additional information about our impairment charges to Property, Plant and Equipment.
Our management is overseen by our executive team, whose members cover the key areas of finance, human resources, investor relations, legal, manufacturing, marketing, operations, production, R&D and sales.
Members of our management executive team at 30 April 2020 are:
Jack Truong BS, PhD
Chief Executive Officer
Age 57
Dr Jack G. Truong joined James Hardie as President of International Operations in April 2017. Dr Truong was announced Chief Executive Officer ("CEO") successor and appointed President and Chief Operating Officer with the responsibility of running the Company's global business in September 2018. He was officially appointed CEO in January 2019.
Dr Truong’s ability to anticipate global market trends and deliver profitable revenue growth is evidenced by his extensive multinational and multisector business experience. Prior to James Hardie, Dr Truong was the President and Chief Executive Officer of leading home appliance manufacturer, Electrolux North America Inc, a $5+ billion revenue and 14,000+ employee business at the time of his leadership.
Before joining Electrolux, Dr Truong enjoyed a successful 22-year career at 3M Company, where he held senior leadership roles throughout the United States, Europe and Asia-Pacific, including Vice President and General Manager of the Global Construction and Home Improvements Division and Global Office Supplies Division.
As an engineer and inventor himself – earning his PhD in chemical engineering from the Rensselaer Polytechnic Institute in New York – Dr Truong is the recipient of 11 U.S. patents and several international patents. Dr Truong also enjoys giving time to philanthropic causes and professional industry associations, receiving multiple accolades for his humanitarian work and business accomplishments.
Jason Miele was appointed as Chief Financial Officer (“CFO”) in February 2020. As CFO he oversees the Company’s overall financial activities, including accounting, tax, treasury, performance and competitor analysis, internal audit, financial operations, information systems, and investor and media relations.
Mr Miele has over 13 years of experience with James Hardie and has served in a number of important roles during his tenure, including most recently, as Vice President – Investor and Media Relations, a position he held from February 2017. In that role, Mr Miele had responsibility for overseeing James Hardie’s investor relations strategy and communicating James Hardie’s business strategy and its financial performance
to various stakeholders including shareholders, investment analysts, and the financial media.
Prior to that, Mr Miele served in a variety of roles of increasing responsibility, in finance functions such as Treasury, Controllership and Operational Finance, including reporting to the CFO as the Global Treasurer and later the Global Controller. Mr Miele has supported the James Hardie business during his tenure, working in multiple geographies including Dublin, Ireland, Amsterdam, Netherlands, Mission Viejo, California and Chicago, Illinois in the United States and most recently, Sydney, Australia.
Mr Miele has a Bachelor’s Degree from the University of California at Santa Barbara, where he graduated with a degree in Business Economics with an emphasis in Accounting.
Sean Gadd BEng, MBA
Executive Vice President, North America Commercial
Age 47
Sean Gadd joined James Hardie in 2004 as a Regional Engineering Manager for the Asia Pacific business, and progressed to Plant Manager for both the Carole Park and Rosehill facilities in Australia. Mr Gadd then moved to the US in 2006 to take the role of Manufacturing Manager for Trim and various manufacturing facilities across the US.
In 2009, Mr Gadd ran the US trim business for James Hardie with responsibility for both Manufacturing and Sales, followed by a brief assignment leading Supply Chain. In 2012, Mr Gadd was promoted to the role of Vice President of Sales for Western USA and Canada. Over the next year, his role was expanded to include the Midwest and Northeast of the USA.
Mr Gadd was appointed Executive General Manager in September 2013 with full responsibility for the Northern Division. In October 2015, he was appointed Executive Vice President, Markets and Segments, North America with responsibility for Strategic Marketing and Development. In December 2018, Mr Gadd was appointed Executive Vice President, North America Commercial with responsibility for sales, products, segments and marketing.
Mr Gadd has a Bachelor of Engineering in Manufacturing Management and an executive MBA from the Australian Graduate School of Management, Australia.
Ryan Kilcullen joined James Hardie in 2007 as a PcI/PdI Engineer. Since then, he has worked for the Company in various manufacturing and supply chain roles including Process Engineer, Production Manager, and Supply Chain Engineer. In 2012, he became Supply Chain Manager, ColorPlus® Business Unit, responsible for the end-to-end design and performance of our ColorPlus® product line supply chain. In 2013, he became responsible for North American Supply Chain operations, with responsibilities that included Procurement, Network Planning, Production Planning, Transportation, Distribution Management, Customer Service, and Inside Sales. In June 2015, he was appointed Vice President – Central Operations, responsible for the Company’s Supply Chain Operations and Centralized Manufacturing functions.
In August 2016, he was appointed Executive Vice President – Operations, responsible for the Company’s Supply Chain, Manufacturing, Engineering and Environmental, Health & Safety Operations.
Mr Kilcullen has a Bachelor of Science in Industrial Engineering from Rensselaer Polytechnic Institute and a Master of Engineering in Logistics from Massachusetts Institute of Technology.
Conrad Groenewald B.Tech, MDP, MBA
General Manager, Asia Pacific
Age 47
Conrad Groenewald joined James Hardie in January 2015 as General Manager, Asia Pacific.
As General Manager for Asia Pacific based in Sydney, Australia, Mr Groenewald has responsibility for running the Company’s business across Australia, New Zealand, the Philippines and the rest of SE Asia.
Before joining James Hardie, Mr Groenewald held senior executive roles with the shared services entity of NSW Health, HealthShare NSW; initially as the Chief Operating Officer and then moving into the role of Chief Executive Officer. During his time in this role, he was responsible for setting the strategic direction of HealthShare NSW, while ensuring that the 7,000 staff provided professional services to the NSW
Health department’s back of the house services.
After graduating in 1995, Mr Groenewald started his career as a Process Engineer at Mondi Paper (part of Anglo American Group) in South Africa. There he progressed through the business to Production Manager, and eventually Operations Manager, prior to emigrating to Australia in 2002. In Australia, Mr Groenewald joined Visy Industries where he spent almost 10 years in Senior Operations Management roles across various divisions throughout Australia.
Mr Groenewald has an MBA from The Open University UK, an MDP Business Administration and Management from UNISA, and has a Chemical Engineering qualification and Bachelor of Technology in Pulp and Paper from Durban University of Technology.
Dr Jörg Brinkmann joined James Hardie as General Manager, Europe in April 2018 as part of the Fermacell GmbH acquisition. In this role he is responsible for running the Company’s European activities, which are headquartered in Düsseldorf, Germany.
Before joining James Hardie, Dr Brinkmann held several German as well as international leadership roles in Sales and Marketing at the Xella Group (the former owner of the Fermacell business) starting in 2005. In 2014 he was appointed CEO of the former Fermacell Company with responsibility for the entire business. Under his leadership, the company achieved significant profitable growth.
Dr Brinkmann holds a Masters degree (“Diplom-Kaufmann”) from the University of Duisburg-Essen as well as a PhD from the University of Hohenheim, Germany.
Julie Katigan BA, MA
Chief Human Resources Officer
Age 53
Julie Katigan joined James Hardie as Chief Human Resources Officer (“CHRO”) in May 2019. As CHRO she has responsibility for the Company’s global human resource activities, including employee engagement, leadership and talent development and human resources strategy.
Most recently, Ms Katigan was the Senior Vice President, Human Resources for XPO Logistics’ Americas and Asia Pacific Supply Chain business unit, responsible for approximately 25,000 employees in 400 locations across the globe.
Prior to XPO Logistics, Ms Katigan held senior human resources leadership roles in
both business partnering and specialty areas such as Talent Management and Organizational Development, with well-established companies that included Colfax Corporation, Electrolux, Mead Johnson Nutrition and Ford Motor Company.
Ms Katigan has a Bachelor of Arts degree in English and a Master’s degree in Labor and Industrial Relations from Michigan State University.
Joe Blasko joined James Hardie as General Counsel and Chief Compliance Officer in June 2011.
Before joining James Hardie, Mr Blasko was Assistant General Counsel, and later, the General Counsel at Liebert Corporation, an Emerson Network Power Systems company and wholly-owned subsidiary of Emerson Electric Co. In his four years with Liebert/Emerson, Mr Blasko was responsible for establishing the legal department in Columbus, Ohio, managing and overseeing all legal matters and working closely with the executive management team. In this role, Mr Blasko also had global responsibilities which required expertise across multiple jurisdictions.
From 2004 to 2006, Mr Blasko was Associate General Counsel at The Scotts Miracle-Gro Company, serving as the effective “general counsel” to numerous corporate divisions within the organization. From 1997 to 2004, Mr Blasko gained considerable regulatory and litigation expertise working at Vorys, Sater, Seymour and Pease LLP in Ohio.
Mr Blasko has a Juris Doctor from Case Western Reserve University in Cleveland, Ohio, USA and a Bachelor of Science in Foreign Service from Georgetown University, USA, with a specialty in International Relations, Law and Organizations.
James Hardie’s non-executive directors have widespread experience, spanning general management, finance, manufacturing, marketing and accounting. Each non-executive director also brings valuable international experience that assists with James Hardie’s growth. For additional information, see "Section 1 - Corporate Governance Report" of this Annual Report.
Members of the Board of Directors (the “Board”) at 30 April 2020 are: