Compared to the same period in 2018, full year consolidated net sales increased $366.3 million, or 2.1%, to $17.90 billion due primarily to higher paint sales volume in The Americas Group and selling price increases.
Currency translation rate changes reduced consolidated net sales for the year by 1.4%.
Consolidated net sales in the quarter increased $50.2 million, or 1.2%, to $4.11 billion primarily due to higher paint sales volume in The Americas Group, partially offset by softer sales outside of North America and in certain industrial end markets.
Diluted net income per share in the year increased to $16.49 per share from $11.67 per share for 2018.
Full year 2019 included charges for acquisition-related costs of $3.21 per share and other adjustments totaling $1.42 per share.
Other adjustments included non-cash impairment charges related to indefinite-lived trademarks of $1.00 per share, a tax credit investment loss of $.79 per share and pension plan settlement expense of $.27 per share, partially offset by a Brazil indirect tax credit of $.36 per share and a benefit from the resolution of the California public nuisance litigation of $.28 per share.
Currency translation rate changes decreased diluted net income per share in the year by $.18 per share.
Full year 2018 included charges for acquisition-related costs of $4.15 per share and other adjustments totaling $2.71 per share.
Other adjustments included environmental expense provisions of $1.32 per share, California litigation expense of $1.09 per share and pension plan settlement expense of $.30 per share, respectively.
Diluted net income per share increased in the quarter to $2.66 per share from $1.07 per share for 2018.
Diluted net income per share in the quarter included charges for acquisition-related costs of $.97 per share and other adjustments totaling $.64 per share, which included non-cash impairment charges related to indefinite-lived trademarks of $1.00 per share, partially offset by a Brazil indirect tax credit of $.36 per share.
Fourth quarter 2018 diluted net income per share included charges for acquisition related costs of $1.10 per share and other adjustments totaling $1.37 per share, which included environmental expense provisions of $1.07 per share and a pension plan settlement expense of $.30 per share. ■