The Sherwin-Williams Company reported unaudited consolidated earnings results for the fourth quarter and full year ended of December 31, 2016. For the quarter, the company reported net sales of $2,782,591,000 compared to $2,604,596,000 a year ago. Income before income taxes was $304,034,000 compared to $297,221,000 a year ago. Net income was $203,030,000 compared to $198,017,000 a year ago. Diluted earnings per share were $2.15 compared to $2.11 a year ago.

For the full year, the company reported net sales of $11,855,602,000 compared to $11,339,304,000 a year ago. Income before income taxes was $1,595,233,000 compared to $1,548,966,000 a year ago. Net income was $1,132,703,000 compared to $1,053,849,000 a year ago. Diluted earnings per share were $11.99 compared to $11.15 a year ago.

For the first quarter of 2017, the company anticipates the consolidated net sales will increase a mid to high single digit percentage compared to the first quarter of 2016. At that anticipated sales level, the company estimate diluted net income per common share in the first quarter of 2017 will be in the range of $1.45 to $1.55 per share compared to $1.75 per share earned in the first quarter of 2016, restated for the early adoption of a new accounting standard (ASU 2016-09).

For the full year 2017, the company expects consolidated net sales to increase a mid single digit percentage compared to full year 2016. With annual sales at that level, the company anticipates diluted net income per common share for 2017 will be in the range of $13.00 to $13.20 per share compared to $11.99 per share earned in 2016. In 2017, The company anticipates capital expenditures of approximately $231 million, depreciation of $175 million to $185 million and amortization of about $30 million.

For the quarter, the company reported impairment of goodwill and trademarks of $10,688,000.