Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 11

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 a pre-tax loss on classification as discontinued operations of $362 million. The loss is presented within Net (loss) earnings from discontinued operations attributable to Owens Corning, net of tax, on the Consolidated Statements of Earnings. An estimated valuation allowance of $347 million is recorded within Non-current assets of discontinued operations, on the Consolidated Balance Sheets.The following table summarizes Earnings from discontinued operations attributable to Owens Corning, net of tax included within the Consolidated Statements of Earnings:  Three Months Ended March 31,(In millions)20252024NET SALES$270 $283 COST OF SALES204 231 OPERATING EXPENSESMarketing and administrative expenses17 22 Loss from classification as discontinued operation362 — Other expense, net2 3 Total operating expenses381 25 Interest expense, net1 1 Income tax expense32 5 NET (LOSS) EARNINGS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO OWENS CORNING, NET OF TAX$(348)$21 

11

Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

Major classes of assets and liabilities of discontinued operations include the following:(In millions)March 31, 2025December 31, 2024ASSETSCURRENT ASSETSCash and cash equivalents$40 $40 Receivables, less allowance97 104 Inventories264 260 Other current assets14 23 Current assets of discontinued operations415 427 Property, plant and equipment, net$366 $346 Goodwill99 98 Deferred income taxes4 46 Valuation allowance for discontinued operations(347)— Other non-current assets94 89 Non-current assets of discontinued operations$216 $579 LIABILITIESCURRENT LIABILITIESAccounts payable$114 $129 Other current liabilities78 97 Current liabilities of discontinued operations192 226 Deferred income taxes7 — Other liabilities103 95 Non-current liabilities of discontinued operations$110 $95 Cash flows related to discontinued operations are included within the Consolidated Statements of Cash Flows. Selected financial information related to cash flows from discontinued operations are below:  Three Months Ended March 31,(In millions)20252024Depreciation and amortization$— $23 Cash paid for property, plant and equipment$21 $