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FORM 5500 DATA

The Sherwin-Williams Company Employee Stock Purchase and Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan04/01/1969
  • Net Assets as of 12/31/2019 $8,397,707,655
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants44,461
  • Retired or separated participants receiving benefits292
  • Other retired or separated participants entitled to future benefits12,945
  • Subtotal57,698
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits189
  • Total57,887
  • Total number of participants as of 01/01/201956,029
  • Number of participants with account balances55,607
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1,980

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address101 Prospect Avenue N.W. C/O Tax Dept., 1220 Gh
  • CityCleveland
  • StateOH
  • Zip44115-1075
  • Telephone(216) 566-2000
  • EIN34-0526850
  • Industry Code325500
  • Named AdministratorThomas Gilligan
  • Named Plan SponsorLawrence Boron

Plan Administrator Information

  • Administrator NameAdministrator Committee
  • Address101 Prospect Avenue, N.W.
  • CityCleveland
  • StateOH
  • Zip44115-1075
  • Telephone(216) 566-2000
  • Administrator EIN34-6505363

Audit Information

  • Audit StatusAudited
  • AuditorCrowe LLP
  • Auditor EIN35-0921680
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I Stock bonus A stock bonus plan is a type of profit-sharing by which a corporation uses its own stock to make contributions and distributions.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).
3J Puerto Rico Plan U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 8565 of the Puerto Rico Code.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $25,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $2,635,338,211
Contributions $301,332,009
Cash Contributions $301,332,009
Cash from Employers $111,265,462
Cash from Participants $178,667,745
Others (including rollovers) $11,398,802
Noncash Contributions $0
Total Earnings on Investments $2,333,610,714
Total Interest $6,712,602
Interest-Bearing Cash $1,612,709
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $5,099,893
Interest from Other Investments $0
Total Dividends $66,386,794
Preferred Stock $0
Common Stock $40,132,923
Rents $0
Net gain (loss) on sale of assets $128,995,928
Aggregate Proceeds $678,537,412
Aggregate Carrying Amount $549,541,484
Total Unrealized Appreciation (depreciation) of assets $1,561,744,774
Real Estate $0
Other $1,561,744,774
Net investment gain (loss) from common/collective trusts $459,645,483
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $110,125,133
Other Income $395,488
Expenses $696,945,428
Total Benefit Payments $694,564,127
Directly to participants or beneficiaries, including direct rollovers $694,564,127
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $2,381,301
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $348,539
Other Administrative Fees $2,032,762
Net Income $1,938,392,783
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $8,397,707,655 $6,459,314,872 30.01%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $12,401,372 $6,476,251 91.49%
Employer Contributions $2,908,022 $2,354,887 23.49%
Participant Contributions $4,833,952 $3,843,591 25.77%
Other Contributions $4,659,398 $277,773 1577.41%
General Investments $80,513,494 $69,792,911 15.36%
Interest-bearing cash $80,513,494 $69,792,911 15.36%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $92,592,754 $89,743,322 3.18%
Value of interest in common/collective trusts $2,503,793,026 $1,993,056,477 25.63%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $786,951,616 $619,826,504 26.96%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $4,921,455,393 $3,680,419,407 33.72%
Employer Securities $4,921,455,393 $3,680,419,407 33.72%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $8,397,707,655 $6,459,314,872 30.01%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Vanguard
  • Pimco
  • Invesco
  • Virtus
  • Wellington Management Company
  • T. Rowe Price
  • Td Ameritrade Trust Company
  • Franklin Templeton Investments

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Fidelity Inv Inst Ops Co, Inc Participant loan processing, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees $1,590,420 $0 $1,590,420
Strategic Advisors, Inc. Investment advisory (plan) $348,539 $0 $348,539
Aon Consulting, Inc (Nj) Actuarial, Consulting (general) $8,520 $0 $8,520
Vorys, Slater, Seymour and Pease Legal $8,087 $0 $8,087
Total $1,955,566 $0 $1,955,566

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
T. Rowe Price Ret. 2025 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $304,336,066
T. Rowe Price Ret. 2030 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $294,626,727
Contrafund Commingled Pool Fidelity Management Trust Company DFE: Common/Collective Trust $267,488,180
T. Rowe Price Ret. 2035 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $233,270,215
T. Rowe Price Ret. 2040 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $189,022,408
T. Rowe Price Ret. 2020 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $185,343,777
T. Rowe Price Ret. 2045 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $164,298,140
T. Rowe Price Ret. 2050 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $148,866,845
Managed Income Portfolio II Cl 3 Fidelity Management Trust Company DFE: Common/Collective Trust $141,318,307
Small Cap Opportunities Portfolio Wellington Trust Company DFE: Common/Collective Trust $116,849,752
T. Rowe Price Ret. 2055 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $105,103,651
Mid-Cap Stock Commingled Pool Fidelity Management Trust Company DFE: Common/Collective Trust $87,994,479
Low-Priced Stock Commingled Pool Fidelity Management Trust Company DFE: Common/Collective Trust $69,454,438
T. Rowe Price Ret. 2015 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $43,178,886
T. Rowe Price Ret. 2060 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $36,903,760
Invesco Core Plus Fixed Income Fund Invesco Trust Company DFE: Common/Collective Trust $28,123,620
Aggressive Growth Portfolio Td Ameritrade DFE: Common/Collective Trust $16,356,001
T. Rowe Price Ret. 2005 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $12,470,557
Growth Portfolio Td Ameritrade DFE: Common/Collective Trust $12,069,029
T. Rowe Price Ret. 2010 Trust T. Rowe Price Trust Company DFE: Common/Collective Trust $10,525,384
Balanced Portfolio Td Ameritrade DFE: Common/Collective Trust $10,185,889
Moderate Growth Portfolio Td Ameritrade DFE: Common/Collective Trust $10,087,336
Conservative Portfolio Td Ameritrade DFE: Common/Collective Trust $10,061,955
Income and Growth Portfolio Td Ameritrade DFE: Common/Collective Trust $5,857,624
Total $2,503,793,026

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.