Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 74

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 74
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 by $13 million for the three months ended March 31, 2025 compared to the same period in 2024. The increase was primarily driven by more cash paid for property, plant and equipment, slightly offset by higher proceeds from the sale of assets. For the three months ended March 31, 2025, cash paid for property, plant and equipment related to discontinued operations was $21 million.

Financing activities: Net cash flow provided by financing activities increased by $498 million for the three months ended March 31, 2025 compared to the same period in 2024. The increase was primarily driven by the issuance of CP Notes as well as lower treasury stock repurchases. These were slightly offset by the redemption of the remaining portion of the outstanding Masonite 2028 notes.

Material Cash Requirements

Our anticipated uses of cash include capital expenditures, working capital needs, share repurchases, meeting financial obligations, payments of any dividends authorized by our Board of Directors, acquisitions, restructuring actions, divestitures and pension contributions. We expect that our cash on hand, coupled with future cash flows from operations and other available sources of liquidity, including our Senior Revolving Credit Facility and our CP Program, will provide ample liquidity to enable us to meet our cash requirements. 

Please refer to Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, included in our 2024 Form 10-K for more details on these material cash requirements. During the first quarter of 2025, there have been no material changes to our expected uses of cash and contractual obligations.

Debt

As of March 31, 2025, the Company had $5.6 billion of total debt. The Company's Short-term debt includes $500 million of CP Notes.

On March 5, 2025, the Company amended its senior revolving credit facility (the “Senior Revolving Credit Facility”) to increase the available principal amount from $1.0 billion to $1.5 billion and to extend the maturity to March 2030. During the first quarter of 2025, the Company borrowed $30 million under the Senior Revolving Credit Facility, which was subsequently repaid with proceeds from the issuance of CP Notes. The Company had no borrowings outstanding and $1.5 billion available under the Senior Revolving Credit Facility as of March 31, 2025.

On March 5, 2025, the Company established a CP Program for the issuance of