2001 Annual Report - Investor Relations - Sherwin Williams

America’s Paint Company. Words of strength about a companywith more than $5 billion in annual sales. Words of stability abouta company with more than 135 years of coatings experience. Wordsstabilitysecurityof security about a company with increased dividends to shareholdersfor 22 consecutive years. Words that honor, humble andremind us of our industry leadership and corporate responsibilityto our customers, employees and shareholders.Table of ContentsSummary of Operating Segments 2Financial Highlights 3Letter to Shareholders 4The Operating Segments 8Stores Map 18Subsidiaries and Cautionary StatementRegarding Forward-Looking Information 19Financial Summary 20Management’s Discussion and Analysis ofFinancial Condition and Results of Operations 21Reports of Management and Independent Auditors 28Consolidated Financial Statements and Notes 29Directors, Officers, Operating Presidents 47Shareholder Information 48On the CoverLike many Americans,Philadelphia painter MegSaligman was “struck by adesire to do something”after the events of Sept. 11,2001.Working with the city’sMural Arts Program andwith paint, brushes and buckets supplied bySherwin-Williams, she and three other painters – EfrainHererra, Larissa Preston and Cesar Viveros – painted a7,500-square-foot flag mural in downtown Philadelphia.“We are not doctors or therapists, so we couldn’t helppeople heal in that way,” Saligman says. “But if in our smallway we could offer solace and a sense of unity to even oneperson, it would be worthwhile.” It also was important toher that people go about their daily activities despitethe tragedy.“We’re painters, and we paint,” she says.The Sherwin-Williams Company recruits, selects and hires the best possible people available – without discrimination based on race, religion, color,creed, sex, national origin, age, disability, status as a special disabled veteran, veteran of the Vietnam era or any other unlawful consideration.