10-Q 1 rpm-20220228.htm 10-Q 10-Q
0000110621Q3false--05-310000110621us-gaap:PensionPlansDefinedBenefitMembercountry:US2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMembercountry:US2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:CA2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMembercountry:US2021-06-012022-02-280000110621us-gaap:ParentMember2020-12-012021-02-280000110621us-gaap:AdditionalPaidInCapitalMember2021-11-300000110621us-gaap:ParentMember2021-02-280000110621us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-2800001106212022-04-010000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMemberrpm:OtherForeignCountryMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMember2020-12-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:ForeignCurrencyGainLossMember2020-12-012021-02-280000110621us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:US2020-06-012021-02-2800001106212020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-06-012021-02-280000110621us-gaap:NoncontrollingInterestMember2021-09-012021-11-300000110621us-gaap:PensionPlansDefinedBenefitMembercountry:US2021-06-012022-02-280000110621us-gaap:StockAppreciationRightsSARSMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:EuropeMember2020-12-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberrpm:TermLoanFacilityMemberrpm:VariableInterestRateMember2020-02-290000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMembercountry:CA2021-06-012022-02-280000110621us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMember2021-06-012022-02-280000110621us-gaap:RetainedEarningsMember2020-06-012020-08-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMember2022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMember2017-10-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:AsiaPacificMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:US2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:CA2021-06-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMember2021-06-012022-02-280000110621us-gaap:NonUsMemberus-gaap:MutualFundMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:ConsumerProductsSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMembercountry:US2021-06-012022-02-280000110621us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:ShortTermContractWithCustomerMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMember2021-06-012022-02-2800001106212021-09-152021-09-150000110621country:USus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:ConsumerProductsSegmentMember2021-06-012022-02-280000110621us-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-05-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:OtherCurrentAssetsMember2021-05-310000110621us-gaap:FairValueInputsLevel2Membercountry:USus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:RestrictedStockMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-11-300000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMembercountry:US2021-12-012022-02-280000110621us-gaap:CommonStockMember2020-08-310000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMember2021-12-012022-02-280000110621us-gaap:StockAppreciationRightsSARSMember2021-12-012022-02-280000110621us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2020-12-012021-02-2800001106212021-06-012021-08-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:SaleOfSubsidiaryGainLossMember2020-12-012021-02-280000110621rpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:ForeignCurrencyGainLossMember2021-12-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberrpm:InterestIncomeExpenseMember2020-06-012021-02-280000110621us-gaap:FairValueInputsLevel1Memberrpm:ContingentConsiderationLiabilityMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConstructionProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:RetainedEarningsMember2020-08-310000110621us-gaap:NonUsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:TreasuryStockMember2021-02-280000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:EuropeMember2021-12-012022-02-280000110621us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:TreasuryStockMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:US2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:SpecialtyProductsGroupSegmentMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConsumerSegmentMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConsumerSegmentMember2021-12-012022-02-2800001106212021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMemberus-gaap:OtherRestructuringMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMemberrpm:ConstructionProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:MutualFundMemberus-gaap:FairValueInputsLevel1Membercountry:USus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:CA2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMember2020-12-012021-02-2800001106212021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:ConsumerProductsSegmentMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMemberus-gaap:OtherRestructuringMember2022-02-2800001106212021-09-012021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMemberrpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:PensionPlansDefinedBenefitMembercountry:US2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembercountry:CA2020-06-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberrpm:ThreePointFourFiveZeroPercentSeniorNotesNovemberTwoThousandTwentyTwoMember2020-02-290000110621us-gaap:ParentMember2021-06-012021-08-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:US2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:AsiaPacificMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2020-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:CorporateNonSegmentMember2021-05-310000110621us-gaap:DesignatedAsHedgingInstrumentMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-06-012022-02-280000110621us-gaap:PensionPlansDefinedBenefitMembercountry:US2021-05-310000110621us-gaap:OperatingSegmentsMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMembercountry:US2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:PerformanceCoatingsSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:AsiaPacificMember2021-12-012022-02-280000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMember2022-02-2800001106212020-09-012020-11-300000110621rpm:MarginAccelerationPlanToGrowthPlanMember2021-05-310000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-11-300000110621us-gaap:FairValueInputsLevel1Membercountry:USus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembercountry:CArpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-06-012021-02-2800001106212021-12-102021-12-100000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:CA2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConsumerSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMemberus-gaap:OtherRestructuringMember2021-12-012022-02-280000110621us-gaap:CommonStockMember2021-08-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembercountry:CA2021-12-012022-02-280000110621us-gaap:AdditionalPaidInCapitalMember2021-08-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:CA2021-12-012022-02-280000110621rpm:ConstructionProductsGroupSegmentMember2022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMemberrpm:OtherForeignCountryMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMembercountry:USrpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621rpm:PerformanceCoatingsGroupSegmentMember2021-05-3100001106212021-08-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMemberus-gaap:OtherRestructuringMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMembercountry:US2020-12-012021-02-2800001106212021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMember2020-06-012021-02-2800001106212022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMemberus-gaap:OtherRestructuringMember2021-06-012022-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-12-012022-02-280000110621rpm:ConstructionProductsGroupSegmentMember2021-05-310000110621us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-05-310000110621us-gaap:RetainedEarningsMember2021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:ConsumerProductsSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:StockAppreciationRightsSARSMember2021-06-012022-02-280000110621us-gaap:NoncontrollingInterestMember2021-05-310000110621us-gaap:ParentMember2021-08-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:AdditionalPaidInCapitalMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMemberrpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembercountry:CA2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMemberrpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:AsiaPacificMember2020-06-012021-02-280000110621us-gaap:PensionPlansDefinedBenefitMembercountry:US2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMember2020-12-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:SaleOfSubsidiaryGainLossMember2021-12-012022-02-280000110621us-gaap:CommonStockMember2021-09-012021-11-300000110621us-gaap:FairValueInputsLevel3Memberrpm:ContingentConsiderationLiabilityMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembercountry:CArpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMemberus-gaap:OtherRestructuringMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:US2021-12-012022-02-280000110621us-gaap:NonUsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-02-280000110621us-gaap:CommonStockMember2021-06-012021-08-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMemberus-gaap:OtherRestructuringMember2021-12-012022-02-280000110621us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2021-06-012022-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMembersrt:EuropeMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:CA2020-12-012021-02-280000110621us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:PerformanceCoatingsSegmentMember2020-12-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMember2021-06-012022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-05-310000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-012021-08-310000110621us-gaap:NoncontrollingInterestMember2021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:EuropeMember2020-12-012021-02-2800001106212020-08-310000110621rpm:ConsumerSegmentMember2021-05-310000110621us-gaap:TreasuryStockMember2020-09-012020-11-300000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-08-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMember2020-06-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberrpm:VariableInterestRateMember2020-02-012020-02-290000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-11-300000110621us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMemberus-gaap:OtherRestructuringMember2022-02-280000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMember2020-12-012021-02-280000110621rpm:ContingentConsiderationLiabilityMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621rpm:SpecialtyProductsGroupSegmentMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMemberrpm:OtherForeignCountryMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:SpecialtyProductsGroupSegmentMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2020-05-310000110621us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:ConsumerProductsSegmentMember2020-12-012021-02-280000110621rpm:SpecialtyProductsGroupSegmentMember2022-02-280000110621us-gaap:PensionPlansDefinedBenefitMembercountry:US2022-02-280000110621rpm:SubsidiaryPotentialArgumentsOnAppealMember2021-11-300000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMemberrpm:InterestIncomeExpenseMember2021-12-012022-02-280000110621us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2020-05-310000110621us-gaap:NonUsMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:NondesignatedMemberrpm:ForwardContractsHeldToPurchaseForeignCurrenciesMember2021-05-310000110621rpm:ContingentConsiderationLiabilityMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-02-280000110621us-gaap:ParentMember2020-11-300000110621us-gaap:RetainedEarningsMember2021-09-012021-11-300000110621us-gaap:ParentMember2020-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:PerformanceCoatingsSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConsumerSegmentMember2020-12-012021-02-280000110621rpm:TwoPointNineFiveZeroNoteDueInTwoThousandThirtyTwoMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:EuropeMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:AdditionalPaidInCapitalMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:AsiaPacificMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-12-012022-02-2800001106212021-01-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMemberrpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMember2021-06-012022-02-280000110621us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:NetInvestmentHedgingMember2021-05-310000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2022-02-280000110621us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:AdditionalPaidInCapitalMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2020-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMemberrpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:PerformanceCoatingsSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMemberrpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-08-310000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:ConsumerProductsSegmentMember2021-12-012022-02-280000110621us-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMemberus-gaap:ForeignExchangeContractMember2021-05-310000110621us-gaap:RestrictedStockMember2020-12-012021-02-280000110621us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2020-12-012021-02-280000110621us-gaap:CommonStockMember2022-02-280000110621us-gaap:ParentMember2020-06-012020-08-310000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2020-12-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-06-012022-02-280000110621us-gaap:CorporateNonSegmentMember2021-06-012022-02-280000110621rpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:ParentMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMember2020-12-012021-02-280000110621us-gaap:AdditionalPaidInCapitalMember2020-11-300000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:NetInvestmentHedgingMemberrpm:OtherAccruedLiabilitiesMember2022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621rpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:ShortTermContractWithCustomerMember2021-12-012022-02-280000110621us-gaap:NonUsMemberus-gaap:MutualFundMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:CommonStockMember2021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMembersrt:EuropeMember2020-12-012021-02-280000110621us-gaap:RetainedEarningsMember2022-02-280000110621us-gaap:MutualFundMemberus-gaap:NonUsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:NoncontrollingInterestMember2020-08-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:ForeignCurrencyGainLossMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:TreasuryStockMember2021-12-012022-02-280000110621us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:US2020-12-012021-02-280000110621us-gaap:RetainedEarningsMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:AsiaPacificMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-2800001106212020-11-300000110621rpm:ConsumerSegmentMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:AsiaPacificMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConstructionProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMembercountry:USrpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMember2020-06-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberrpm:OtherAccruedLiabilitiesMemberus-gaap:InterestRateSwapMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-11-300000110621rpm:MarginAccelerationPlanToGrowthPlanMember2020-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:AsiaPacificMember2020-06-012021-02-280000110621us-gaap:CommonStockMember2021-11-300000110621rpm:PerformanceCoatingsGroupSegmentMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMember2021-06-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMemberrpm:ThreePointFourFiveZeroPercentSeniorNotesNovemberTwoThousandTwentyTwoMember2020-02-012020-02-290000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:EuropeMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMembercountry:USrpm:ConstructionProductsGroupSegmentMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2022-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-12-012022-02-280000110621us-gaap:MutualFundMembercountry:USus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:CommonStockMember2020-05-310000110621us-gaap:CorporateNonSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMembercountry:CA2021-12-012022-02-280000110621us-gaap:CommonStockMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:PerformanceCoatingsSegmentMember2021-06-012022-02-280000110621country:USus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-012021-11-300000110621us-gaap:RestrictedStockMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2022-02-280000110621rpm:ContingentConsiderationLiabilityMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:CommonStockMember2020-12-012021-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:NondesignatedMember2021-05-310000110621us-gaap:RetainedEarningsMember2020-05-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberrpm:OtherAccruedLiabilitiesMemberus-gaap:InterestRateSwapMember2021-05-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberrpm:InterestIncomeExpenseMemberus-gaap:InterestRateSwapMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:ParentMember2021-09-012021-11-300000110621us-gaap:ParentMember2020-08-310000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMemberus-gaap:OtherRestructuringMember2021-06-012022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-012020-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMember2020-12-012021-02-280000110621us-gaap:ParentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:EuropeMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembercountry:CA2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMembersrt:EuropeMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621rpm:ConsumerSegmentMember2022-02-280000110621us-gaap:RetainedEarningsMember2020-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:PerformanceCoatingsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMember2020-12-012021-02-280000110621us-gaap:AdditionalPaidInCapitalMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:AsiaPacificMember2021-06-012022-02-280000110621us-gaap:TreasuryStockMember2021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:EuropeMember2020-12-012021-02-280000110621us-gaap:NonUsMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:PerformanceCoatingsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembercountry:CA2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMember2020-12-012021-02-280000110621us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:AdditionalPaidInCapitalMember2021-06-012021-08-310000110621us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2020-12-012021-02-280000110621us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberrpm:OtherAccruedLiabilitiesMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMemberus-gaap:OtherRestructuringMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembercountry:CA2021-06-012022-02-280000110621us-gaap:CorporateNonSegmentMember2021-12-012022-02-280000110621us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembercountry:CA2020-06-012021-02-280000110621us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:AccountingStandardsUpdate201814Member2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:AsiaPacificMember2020-12-012021-02-280000110621us-gaap:CorporateNonSegmentMember2020-06-012021-02-280000110621us-gaap:AdditionalPaidInCapitalMember2020-06-012020-08-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2020-11-300000110621rpm:MarginAccelerationPlanToGrowthPlanMember2021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMember2022-02-280000110621us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembercountry:US2020-06-012021-02-2800001106212021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:EuropeMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMembercountry:USrpm:ConstructionProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMember2020-06-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMember2021-06-012022-02-280000110621us-gaap:RetainedEarningsMember2021-05-310000110621us-gaap:OperatingSegmentsMembercountry:US2021-12-012022-02-280000110621us-gaap:NoncontrollingInterestMember2021-12-012022-02-280000110621us-gaap:ParentMember2021-11-300000110621rpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:NonUsMemberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:ConsumerProductsSegmentMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-06-012022-02-280000110621rpm:ConstructionProductsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:TreasuryStockMember2020-06-012020-08-310000110621us-gaap:FairValueInputsLevel2Memberus-gaap:MutualFundMemberus-gaap:NonUsMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:NoncontrollingInterestMember2020-09-012020-11-300000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:PerformanceCoatingsSegmentMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:PerformanceCoatingsSegmentMember2021-06-012022-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621rpm:ConstructionProductsGroupSegmentMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:ConsumerProductsSegmentMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:MutualFundMemberus-gaap:NonUsMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMember2021-12-012022-02-280000110621rpm:ConsumerSegmentMember2020-12-012021-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-012020-08-310000110621us-gaap:AdditionalPaidInCapitalMember2020-05-310000110621us-gaap:ParentMember2022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:SaleOfSubsidiaryGainLossMember2021-06-012022-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:CA2021-06-012022-02-280000110621us-gaap:CommonStockMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMemberrpm:OtherForeignCountryMember2021-12-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMember2017-10-302017-10-310000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMember2020-12-012021-02-280000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:EuropeMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:EuropeMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMember2020-12-012021-02-280000110621us-gaap:StockAppreciationRightsSARSMember2020-12-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-12-012022-02-280000110621us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-06-012022-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-12-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2021-12-012022-02-280000110621us-gaap:NondesignatedMemberrpm:OtherAccruedLiabilitiesMemberus-gaap:ForeignExchangeContractMember2022-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:MutualFundMembercountry:USus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:TreasuryStockMember2021-06-012021-08-310000110621us-gaap:NoncontrollingInterestMember2020-06-012020-08-310000110621us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:PerformanceCoatingsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:CommonStockMember2020-06-012020-08-310000110621us-gaap:FairValueInputsLevel3Membercountry:USus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMember2021-12-012022-02-280000110621us-gaap:RetainedEarningsMember2021-08-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:OtherCurrentAssetsMember2021-05-310000110621us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMember2021-05-310000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:US2020-12-012021-02-280000110621us-gaap:TreasuryStockMember2020-08-310000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-06-012021-02-280000110621us-gaap:CommonStockMember2020-11-300000110621rpm:TwoPointNineFiveZeroNoteDueInTwoThousandThirtyTwoMember2022-01-252022-01-250000110621us-gaap:CommonStockMember2020-09-012020-11-300000110621us-gaap:NonUsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberrpm:TermLoanFacilityMemberrpm:VariableInterestRateMember2020-02-012020-02-290000110621rpm:PerformanceCoatingsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMemberus-gaap:OtherRestructuringMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembercountry:CA2020-06-012021-02-280000110621rpm:ConsumerSegmentMember2021-12-012022-02-280000110621us-gaap:MutualFundMembercountry:USus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMemberus-gaap:OtherRestructuringMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembercountry:CA2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMembercountry:US2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:EuropeMember2021-12-012022-02-280000110621us-gaap:TreasuryStockMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621rpm:PerformanceCoatingsGroupSegmentMember2020-12-012021-02-280000110621rpm:PerformanceCoatingsGroupSegmentMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-05-310000110621us-gaap:AdditionalPaidInCapitalMember2020-08-310000110621us-gaap:NoncontrollingInterestMember2021-06-012021-08-310000110621us-gaap:DesignatedAsHedgingInstrumentMember2020-02-290000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:SpecialtyProductsGroupSegmentMember2021-06-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:PerformanceCoatingsSegmentMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMembersrt:EuropeMember2021-06-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConstructionProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMembersrt:EuropeMember2021-06-012022-02-280000110621rpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-2800001106212020-06-012021-02-280000110621us-gaap:AccountingStandardsUpdate201912Member2022-02-280000110621us-gaap:RetainedEarningsMember2021-06-012021-08-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:EuropeMember2020-12-012021-02-280000110621us-gaap:RetainedEarningsMember2021-11-300000110621us-gaap:ParentMember2020-09-012020-11-300000110621us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-12-012022-02-280000110621us-gaap:AdditionalPaidInCapitalMember2020-09-012020-11-300000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMemberrpm:InterestIncomeExpenseMember2021-06-012022-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:MutualFundMembercountry:USus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:PerformanceCoatingsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMemberus-gaap:CurrencySwapMemberus-gaap:OtherCurrentAssetsMember2022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMemberrpm:PerformanceCoatingsSegmentMember2020-12-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberrpm:InterestIncomeExpenseMember2020-12-012021-02-280000110621rpm:LeasebackAgreementMember2021-11-300000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2020-06-012021-02-280000110621rpm:ConstructionProductsSegmentMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2020-06-012021-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMemberrpm:InterestIncomeExpenseMember2020-12-012021-02-280000110621us-gaap:NoncontrollingInterestMember2021-08-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:FacilityClosingMember2021-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:NonUsMemberus-gaap:MutualFundMemberus-gaap:FairValueMeasurementsRecurringMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:AsiaPacificMember2021-12-012022-02-280000110621us-gaap:FairValueInputsLevel2Memberrpm:ContingentConsiderationLiabilityMemberus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:EuropeMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMemberus-gaap:OtherRestructuringMember2022-02-280000110621rpm:TwoPointNineFiveZeroNoteDueInTwoThousandThirtyTwoMember2022-01-250000110621us-gaap:NoncontrollingInterestMember2022-02-280000110621us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-012022-02-280000110621us-gaap:NoncontrollingInterestMember2020-11-300000110621us-gaap:NondesignatedMember2022-02-280000110621us-gaap:NoncontrollingInterestMember2021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:PerformanceCoatingsSegmentMember2022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberrpm:SpecialtyProductsGroupSegmentMembercountry:US2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:ConsumerProductsSegmentMemberus-gaap:OtherRestructuringMember2020-12-012021-02-280000110621us-gaap:RetainedEarningsMember2020-09-012020-11-300000110621us-gaap:CorporateAndOtherMemberrpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-12-012021-02-280000110621us-gaap:CorporateNonSegmentMember2022-02-280000110621us-gaap:AdditionalPaidInCapitalMember2021-09-012021-11-300000110621us-gaap:TreasuryStockMember2020-11-300000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:ConsumerProductsSegmentMember2021-06-012022-02-280000110621us-gaap:TreasuryStockMember2021-08-310000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:ConsumerSegmentMember2021-12-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:ForeignCurrencyGainLossMember2020-06-012021-02-280000110621us-gaap:TreasuryStockMember2020-05-310000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2021-02-280000110621us-gaap:RetainedEarningsMember2020-12-012021-02-280000110621us-gaap:MutualFundMemberus-gaap:FairValueInputsLevel3Membercountry:USus-gaap:FairValueMeasurementsRecurringMember2021-05-310000110621us-gaap:TreasuryStockMember2021-09-012021-11-300000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:SpecialtyProductsGroupSegmentMemberus-gaap:OtherRestructuringMember2021-06-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberrpm:VariableInterestRateMember2020-02-290000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:OtherRestructuringMember2022-02-2800001106212020-06-012020-08-310000110621us-gaap:NoncontrollingInterestMember2020-12-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:OtherForeignCountryMember2020-12-012021-02-280000110621rpm:ConsumerSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMembersrt:EuropeMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:LatinAmericaMemberrpm:ConstructionProductsGroupSegmentMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMemberrpm:ConsumerProductsSegmentMember2020-06-012021-02-2800001106212021-01-012021-01-310000110621us-gaap:DesignatedAsHedgingInstrumentMember2020-02-012020-02-290000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberrpm:InterestIncomeExpenseMember2021-06-012022-02-280000110621us-gaap:FairValueMeasurementsRecurringMember2021-05-3100001106212020-05-310000110621us-gaap:ForeignPlanMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-06-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberrpm:PerformanceCoatingsSegmentMember2022-02-280000110621rpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberrpm:ConsumerSegmentMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMembersrt:EuropeMember2021-06-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberrpm:OtherAccruedLiabilitiesMember2022-02-2800001106212021-12-012022-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:SpecialtyProductsGroupSegmentMember2021-12-012022-02-280000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:NetInvestmentHedgingMemberus-gaap:SaleOfSubsidiaryGainLossMember2020-06-012021-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMemberus-gaap:EmployeeSeveranceMember2020-12-012021-02-280000110621us-gaap:NoncontrollingInterestMember2020-05-310000110621rpm:PerformanceCoatingsGroupSegmentMember2020-06-012021-02-280000110621us-gaap:RestrictedStockMember2020-06-012021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMemberrpm:PerformanceCoatingsGroupSegmentMembersrt:AsiaPacificMember2020-12-012021-02-280000110621us-gaap:NondesignatedMemberrpm:ForwardContractsHeldToPurchaseForeignCurrenciesMember2022-02-280000110621us-gaap:AdditionalPaidInCapitalMember2021-02-280000110621us-gaap:OperatingSegmentsMemberus-gaap:NonUsMember2021-12-012022-02-280000110621us-gaap:TreasuryStockMember2021-05-310000110621us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberrpm:InterestIncomeExpenseMember2021-12-012022-02-280000110621rpm:MarginAccelerationPlanToGrowthPlanMember2020-06-012021-02-280000110621us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-02-28iso4217:EURrpm:CrossCurrencySwapxbrli:purerpm:Segmentrpm:Warehouserpm:Plantrpm:Positionrpm:ForwardContractxbrli:sharesiso4217:USDiso4217:USDxbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

☒

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended February 28, 2022,

or

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission File No. 1-14187

 

RPM International Inc.

(Exact name of Registrant as specified in its charter)

 

 

Delaware

 

02-0642224

(State or other jurisdiction of

incorporation or organization)

 

(IRS Employer

Identification No.)

 

 

 

P.O. BOX 777;

2628 PEARL ROAD;

MEDINA, Ohio

(Address of principal executive offices)

 

44258

(Zip Code)

 

 

(330) 273-5090

(Registrant’s telephone number including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.01

 

RPM

 

New York Stock Exchange

 

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, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

☒

 

Accelerated filer

 

☐

 

 

 

 

 

 

 

Non-accelerated filer

 

☐

 

Smaller reporting company

 

☐

 

 

 

 

 

 

 

Emerging growth company

 

☐

 

 

 

 

 

If an emerging growth company, 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. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒.

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☐ No ☒.

As of April 1, 2022, the registrant had 129,495,680 shares of common stock, $0.01 par value per share, outstanding.

 

 

 

 

RPM INTERNATIONAL INC. AND SUBSIDIARIES*

INDEX

 

 

 

 

 

Page No.

PART I. FINANCIAL INFORMATION

 

 

 

 

 

 

 

Item 1.

 

Financial Statements:

 

3

 

 

Consolidated Balance Sheets

 

3

 

 

Consolidated Statements of Income

 

4

 

 

Consolidated Statements of Comprehensive Income

 

5

 

 

Consolidated Statements of Cash Flows

 

6

 

 

Consolidated Statements of Stockholders’ Equity

 

7

 

 

Notes to Consolidated Financial Statements

 

9

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

28

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

40

Item 4.

 

Controls and Procedures

 

40

 

 

 

 

 

PART II. OTHER INFORMATION

 

 

 

 

 

 

 

Item 1.

 

Legal Proceedings

 

41

Item 1A.

 

Risk Factors

 

41

Item 2.

 

Unregistered Sale of Equity Securities and Use of Proceeds

 

41

Item 6.

 

Exhibits

 

42

Signatures

 

43

 

* As used herein, the terms “RPM” and the “Company” refer to RPM International Inc. and its subsidiaries, unless the context indicates otherwise.

 

 

2

 

PART I. – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

RPM INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except per share amounts)

 

 

 

February 28, 2022

 

 

May 31, 2021

 

Assets

 

 

 

 

 

 

Current Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

193,191

 

 

$

246,704

 

Trade accounts receivable (less allowances of $49,794 and $55,922, respectively)

 

 

1,085,396

 

 

 

1,280,806

 

Inventories

 

 

1,191,791

 

 

 

938,095

 

Prepaid expenses and other current assets

 

 

339,977

 

 

 

316,399

 

Total current assets

 

 

2,810,355

 

 

 

2,782,004

 

Property, Plant and Equipment, at Cost

 

 

2,080,631

 

 

 

1,967,482

 

Allowance for depreciation

 

 

(1,031,613

)

 

 

(1,002,300

)

Property, plant and equipment, net

 

 

1,049,018

 

 

 

965,182

 

Other Assets

 

 

 

 

 

 

Goodwill

 

 

1,343,962

 

 

 

1,345,754

 

Other intangible assets, net of amortization

 

 

601,641

 

 

 

628,693

 

Operating lease right-of-use assets

 

 

312,157

 

 

 

300,827

 

Deferred income taxes

 

 

23,122

 

 

 

26,804

 

Other

 

 

190,347

 

 

 

203,705

 

Total other assets

 

 

2,471,229

 

 

 

2,505,783

 

Total Assets

 

$

6,330,602

 

 

$

6,252,969

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

Accounts payable

 

$

675,529

 

 

$

717,176

 

Current portion of long-term debt

 

 

703,250

 

 

 

1,282

 

Accrued compensation and benefits

 

 

206,632

 

 

 

258,380

 

Accrued losses

 

 

25,646

 

 

 

29,054

 

Other accrued liabilities

 

 

323,846

 

 

 

325,522

 

Total current liabilities

 

 

1,934,903

 

 

 

1,331,414

 

Long-Term Liabilities

 

 

 

 

 

 

Long-term debt, less current maturities

 

 

1,883,106

 

 

 

2,378,544

 

Operating lease liabilities

 

 

270,293

 

 

 

257,415

 

Other long-term liabilities

 

 

308,340

 

 

 

436,176

 

Deferred income taxes

 

 

97,315

 

 

 

106,395

 

Total long-term liabilities

 

 

2,559,054

 

 

 

3,178,530

 

Commitments and contingencies (Note 15)

 

 

 

 

 

 

Stockholders' Equity

 

 

 

 

 

 

Preferred stock, par value $0.01; authorized 50,000 shares; none issued

 

 

—

 

 

 

—

 

Common stock, par value $0.01; authorized 300,000 shares;
   issued 144,678 and outstanding 129,496 as of February 28, 2022;
   issued 144,199 and outstanding 129,573 as of May 31, 2021

 

 

1,295

 

 

 

1,295

 

Paid-in capital

 

 

1,085,317

 

 

 

1,055,400

 

Treasury stock, at cost

 

 

(691,418

)

 

 

(653,006

)

Accumulated other comprehensive (loss)

 

 

(552,308

)

 

 

(514,884

)

Retained earnings

 

 

1,992,160

 

 

 

1,852,259

 

Total RPM International Inc. stockholders' equity

 

 

1,835,046

 

 

 

1,741,064

 

Noncontrolling Interest

 

 

1,599

 

 

 

1,961

 

Total equity

 

 

1,836,645

 

 

 

1,743,025

 

Total Liabilities and Stockholders' Equity

 

$

6,330,602

 

 

$

6,252,969

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

3

 

RPM INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except per share amounts)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

February 28,

 

 

February 28,

 

 

February 28,

 

 

February 28,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net Sales

 

$

1,433,879

 

 

$

1,269,395

 

 

$

4,723,838

 

 

$

4,361,981

 

Cost of Sales

 

 

935,293

 

 

 

797,454

 

 

 

3,029,287

 

 

 

2,650,213

 

Gross Profit

 

 

498,586

 

 

 

471,941

 

 

 

1,694,551

 

 

 

1,711,768

 

Selling, General and Administrative Expenses

 

 

433,569

 

 

 

402,186

 

 

 

1,290,245

 

 

 

1,197,556

 

Restructuring Expense

 

 

1,140

 

 

 

3,129

 

 

 

5,128

 

 

 

12,280

 

Interest Expense

 

 

22,016

 

 

 

20,964

 

 

 

64,127

 

 

 

63,975

 

Investment (Income) Expense, Net

 

 

4,355

 

 

 

(11,454

)

 

 

1,421

 

 

 

(33,735

)

(Gain) on Sales of Assets, Net

 

 

(249

)

 

 

-

 

 

 

(42,491

)

 

 

-

 

Other (Income) Expense, Net

 

 

(2,742

)

 

 

1,256

 

 

 

(9,001

)

 

 

7,507

 

Income Before Income Taxes

 

 

40,497

 

 

 

55,860

 

 

 

385,122

 

 

 

464,185

 

Provision for Income Taxes

 

 

7,248

 

 

 

17,394

 

 

 

91,962

 

 

 

117,049

 

Net Income

 

 

33,249

 

 

 

38,466

 

 

 

293,160

 

 

 

347,136

 

Less: Net Income Attributable to Noncontrolling Interests

 

 

230

 

 

 

224

 

 

 

684

 

 

 

640

 

Net Income Attributable to RPM International Inc. Stockholders

 

$

33,019

 

 

$

38,242

 

 

$

292,476

 

 

$

346,496

 

Average Number of Shares of Common Stock Outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

127,943

 

 

 

128,447

 

 

 

128,013

 

 

 

128,455

 

Diluted

 

 

129,702

 

 

 

129,949

 

 

 

129,622

 

 

 

129,052

 

Earnings per Share of Common Stock Attributable to RPM International Inc. Stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

 

$

0.30

 

 

$

2.27

 

 

$

2.68

 

Diluted

 

$

0.25

 

 

$

0.29

 

 

$

2.26

 

 

$

2.66

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

 

4

 

RPM INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(In thousands)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

February 28,

 

 

February 28,

 

 

February 28,

 

 

February 28,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net Income

 

$

33,249

 

 

$

38,466

 

 

$

293,160

 

 

$

347,136

 

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments (net of tax of $296; $273; $3,562 and $3,216, respectively)

 

 

16,124

 

 

 

25,718

 

 

 

(69,722

)

 

 

102,880

 

Pension and other postretirement benefit liability adjustments (net of tax of $951; $1,356; $3,630 and $3,864, respectively)

 

 

3,057

 

 

 

4,719

 

 

 

11,086

 

 

 

13,623

 

Unrealized (loss) on securities and other (net of tax of $238; $330; $473 and $8, respectively)

 

 

(384

)

 

 

(957

)

 

 

(287

)

 

 

(787

)

Unrealized gain (loss) on derivatives (net of tax of $838; $763; $6,551 and $6,425, respectively)

 

 

2,648

 

 

 

(2,554

)

 

 

21,448

 

 

 

(21,043

)

Total other comprehensive income (loss)

 

 

21,445

 

 

 

26,926

 

 

 

(37,475

)

 

 

94,673

 

Total Comprehensive Income

 

 

54,694

 

 

 

65,392

 

 

 

255,685

 

 

 

441,809

 

Less: Comprehensive Income Attributable to Noncontrolling Interests

 

 

238

 

 

 

268

 

 

 

633

 

 

 

752

 

Comprehensive Income Attributable to RPM International Inc. Stockholders

 

$

54,456

 

 

$

65,124

 

 

$

255,052

 

 

$

441,057

 

 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

 

5

 

RPM INTERNATIONAL INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

 

 

 

Nine Months Ended

 

 

 

February 28,

 

 

February 28,

 

 

 

2022

 

 

2021

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

Net income

 

$

293,160

 

 

$

347,136

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

114,295

 

 

 

109,119

 

Restructuring charges, net of payments

 

 

(2,341

)

 

 

(3,830

)

Fair value adjustments to contingent earnout obligations

 

 

2,470

 

 

 

1,829

 

Deferred income taxes

 

 

(16,908

)

 

 

24,473

 

Stock-based compensation expense

 

 

29,287

 

 

 

31,157

 

Net loss (gain) on marketable securities

 

 

10,032

 

 

 

(29,652

)

Net (gain) on sales of assets

 

 

(42,491

)

 

 

-

 

Other

 

 

112

 

 

 

(394

)

Changes in assets and liabilities, net of effect from purchases and sales of businesses:

 

 

 

 

 

 

 Decrease in receivables

 

 

170,513

 

 

 

181,032

 

(Increase) in inventory

 

 

(273,519

)

 

 

(57,702

)

Decrease in prepaid expenses and other current and long-term assets

 

 

506

 

 

 

19,133

 

(Decrease) increase in accounts payable

 

 

(9,884

)

 

 

31,825

 

(Decrease) in accrued compensation and benefits

 

 

(47,442

)

 

 

(1,107

)

(Decrease) increase in accrued losses

 

 

(2,985

)

 

 

3,054

 

(Decrease) in other accrued liabilities

 

 

(68,854

)

 

 

(7,615

)

Other

 

 

-

 

 

 

3,448

 

Cash Provided by Operating Activities

 

 

155,951

 

 

 

651,906

 

Cash Flows from Investing Activities:

 

 

 

 

 

 

Capital expenditures

 

 

(152,401

)

 

 

(103,226

)

Acquisition of businesses, net of cash acquired

 

 

(116,457

)

 

 

(114,355

)

Purchase of marketable securities

 

 

(13,674

)

 

 

(30,784

)

Proceeds from sales of marketable securities

 

 

9,004

 

 

 

28,773

 

Proceeds from sales of assets

 

 

51,913

 

 

 

-

 

Other

 

 

(55

)

 

 

1,664

 

Cash (Used for) Investing Activities

 

 

(221,670