Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 349

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 349
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 since 2002.

48

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

(in millions, except per share amounts)

 Twelve Months Ended December 31, 202420232022NET SALES$10,975 $9,677 $9,761 COST OF SALES7,721 6,994 7,145 Gross margin3,254 2,683 2,616 OPERATING EXPENSESMarketing and administrative expenses1,044 831 803 Science and technology expenses144 123 106 Loss on sale of business91 — — Impairment due to strategic review483 — — Gain on sale of site— (189)— Gain on equity method investment— — (130)Other expense, net365 106 123 Total operating expenses2,127 871 902 OPERATING INCOME1,127 1,812 1,714 Non-operating (income) expense, net(1)145 (9)EARNINGS BEFORE INTEREST AND TAXES1,128 1,667 1,723 Interest expense, net212 76 109 EARNINGS BEFORE TAXES916 1,591 1,614 Income tax expense275 401 373 Equity in net earnings of affiliates6 3 — NET EARNINGS647 1,193 1,241 Net loss attributable to non-redeemable and redeemable noncontrolling interests— (3)— NET EARNINGS ATTRIBUTABLE TO OWENS CORNING$647 $1,196 $1,241 EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERSBasic$7.45 $13.27 $12.85 Diluted$7.37 $13.14 $12.70 

The accompanying Notes to the Consolidated Financial Statements are an integral part of these Statements.

49

 OWENS CORNING AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS

(in millions)

 Twelve Months Ended December 31, 202420232022NET EARNINGS$647 $1,193 $1,241 Other comprehensive (loss) income, net of taxCurrency translation adjustment (net of tax of $0,