Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 166

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 166
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 natural gas prices that mature within 15 months; however, no financial instruments are currently used to protect against changes in raw material costs. At December 31, 2024, the net fair value of such swap contracts was an asset of $3 million. An increase of 10% in the underlying commodity prices would result in an increase in fair value of $4 million as of December 31, 2024. This amount excludes the offsetting impact of the price risk inherent in the physical purchase of the underlying commodities.

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ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2024

ITEM 8PageManagement’s Report on Internal Control Over Financial Reporting45Report of Independent Registered Public Accounting Firm (PCAOB ID 238)46Consolidated Statements of Earnings49Consolidated Statements of Comprehensive Earnings50Consolidated Balance Sheets51Consolidated Statements of Stockholders’ Equity52Consolidated Statements of Cash Flows53Notes to Consolidated Financial Statements541.    Business and Summary of Significant Accounting Policies542.    Segment Information623.    Inventories664.    Derivative Financial Instruments665.    Goodwill and Other Intangible Assets696.    Property, Plant and Equipment727.    Acquisitions738.    Divestitures789.    Assets Held for Sale7810.  Leases7911.  Other Current Liabilities8012.  Warranties8113.  Restructuring, Acquisition and Divestiture-Related Costs8114.  Debt8515.  Pension Plans8816.  Postemployment and Postretirement Benefits Other Than Pensions9517.  Contingent Liabilities and Other Matters9718.  Stock Compensation9919.  Changes in Accumulated Other Comprehensive Deficit10220.  Earnings per Share10321.  Income Taxes10422.  Supplemental Cash Flow Information10723.  Subsequent Events107

44

Management’s Report on Internal Control Over Financial Reporting

Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934.

Management has assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2024 based on criteria established in the Internal Control-Integrated Framework in 2013 issued by the Committee