Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 283

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 283
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 — 91 Total assets3,871 (227)3,644 Accounts payable196 — 196 Current operating lease liabilities28 — 28 Other current liabilities187 — 187 Long-term debt867 — 867 Non-current operating lease liabilities235 — 235 Deferred income taxes413 (47)366 Other non-current liabilities32 3 35 Net assets acquired1,913 (183)1,730 Non-controlling interest(35)— (35)Goodwill1,308 183 1,491 Total net assets acquired$3,186 $— $3,186 The details on the methodology and significant inputs used for fair value of valuation are outlined below.GoodwillPreliminary purchase consideration allocation resulted in $1.5 billion in goodwill. During the twelve months ended December 31, 2024 the Company increased the value of goodwill by $183 million as a result of measurement period adjustments. The goodwill is not deductible for tax purposes. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the acquisition.ReceivablesThe fair value of receivables acquired is $330 million, with the gross contractual amount being $331 million. The Company expects $1 million to be uncollectible. InventoryThe fair value of inventory was determined by the market selling price of the inventory, less the remaining manufacturing and selling costs and a normal profit margin on those manufacturing and selling efforts. The fair value of inventory has been stepped up by $18 million, this amount has been fully amortized to Cost of Sales as the inventory was sold. Property, Plant and EquipmentThe preliminary fair value of property, plant and equipment is $859 million and was determined using cost and market approaches. The cost approach reflects the amount that would be required to replace the asset to service capacity, this approach was used where there was historical data available. Where there was not historical data available the market approach was used, this approach reflects recent sales of identical or comparable assets.

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)7.    ACQUISITIONS (continued)

Intangible AssetsThe preliminary fair value of acquired intangible assets is $1.4 billion. During the twelve months ended December 31, 2024, the