Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 305

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 305
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For the twelve months ended December 31, 2024, the actuarial gain of $34 million was largely the result of increased discount rates. In the U.S. plan, the actuarial gain was primarily driven by the increase in the discount rate along with a small gain due to the impact of differences between expected and actual pension experience. In the Non-U.S. plans, the actuarial gain was primarily driven by an increase in discount rates across a majority of the plans offset by an actuarial loss due to the impact of differences between expected and actual pension experience in Canada.For the twelve months ended December 31, 2023, the actuarial gain of $12 million was largely the result of the impacts related to the annuity purchase settlement offset by losses due to decreased discount rates. In the U.S. plan, the actuarial gain was primarily driven by the settling of the annuity purchase at a lower value relative to the PBO held at the time. The gain was slightly offset by an actuarial loss due to the decrease in the discount rate. In the Non-U.S. plans, the actuarial loss was primarily driven by a decrease in the discount rates across all the plans.The following table presents information about the projected benefit obligation, accumulated benefit obligation (“ABO”) and plan assets of the Company’s pension plans: December 31, 2024December 31, 2023(In millions)U.S.Non-U.S.TotalU.S.Non-U.S.TotalPlans with PBO in excess of fair value of plan assets:Projected benefit obligation$344 $201 $545 $366 $221 $587 Fair value of plan assets$337 $157 $494 $341 $174 $515 Plans with ABO in excess of fair value of plan assets:Accumulated benefit obligation$344 $183 $527 $366 $203 $569 Fair value of plan assets$337 $147 $484 $341 $164 $505 Weighted-Average Assumptions Used to Determine Benefit ObligationThe following table presents weighted average assumptions used to determine benefit obligations at the measurement dates: December 31, 20242023United States PlansDiscount rate5.65 %5.00 %Cash balance interest crediting rate3.90 %4.63 %Non-United States PlansDiscount rate5.23 %4.62 %Rate of