During the first quarter 2024, PPG announced that it would review strategic alternatives for its architectural coatings U.S. and Canada business and its global silicas products business. This suggests potential portfolio adjustments to optimize growth and profitability.

Total capital spending is expected to be approximately $600 million in 2024 in support of future organic growth opportunities. This indicates a commitment to investing in the company's existing businesses and expanding its capabilities.

Operating working capital as a percentage of sales was 17.8% at March 31, 2024, compared to 18.4% at March 31, 2023. This indicates a potential decrease in operational efficiency or challenges in managing inventory and receivables.

Aggregate restructuring savings were approximately $8 million in the first quarter 2024. Total restructuring savings are expected to be at least $35 million in 2024. This indicates ongoing efforts to improve cost structure and operational efficiency.

There were no material changes in the Company's risk factors from the risks disclosed in the 2023 Form 10-K. This suggests a relatively stable risk environment, although the existing risks remain relevant.

PPG has significant reserves for environmental contingencies. The company may be subject to loss contingencies related to environmental matters estimated to be as much as $100 million to $200 million.

Performance Coatings net sales decreased while Industrial Coatings net sales also decreased. This suggests varying competitive pressures and market conditions across different business segments.

Aerospace coatings organic sales increased by a mid-single-digit percentage, led by higher prices and sales volumes as demand was strong in all regions. Global air travel remains below pre-pandemic levels for both domestic and international flights. Protective and marine coatings organic sales increased by a low single-digit percentage year over year primarily due to higher sales volumes, which were driven by global energy and marine demand for our sustainably advantaged products.

Cost of sales, exclusive of depreciation and amortization, decreased $151 million primarily due to lower sales volumes and moderating input costs. This indicates improved cost management in response to market conditions.

Selling, general and administrative expense increased $72 million primarily due to wage inflation and growth-related investments. This suggests increased investment in sales and administrative functions, potentially to support future growth.

The company repurchased 1,061,901 shares of common stock at an average price of $141.29 per share. This indicates a continued commitment to returning capital to shareholders.

In addition to the Company's share repurchase program authorized in December 2017, PPG's Board of Directors authorized the repurchase of an additional $2.5 billion of outstanding common stock on April 18, 2024.

Comparing spot exchange rates at March 31, 2024 and at December 31, 2023, the U.S. dollar strengthened against the currencies of many countries within Europe and Asia where PPG operates, partially offset by weakening against the Mexican peso. As a result, consolidated net assets at March 31, 2024 decreased by $12 million compared to December 31, 2023.