Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 308

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 308
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 — Fixed income and cash equivalents:Corporate bonds12 82 — 94 Government debt— 20 — 20 Total United States plan assets subject to leveling $12 $102 $— $114 December 31,(In millions)20242023Plan assets measured at NAV:Equities $56 $69 Real assets51 11 Fixed income and cash equivalents47 110 Absolute return strategies11 37 Total United States plan assets not subject to leveling165 227 Total United States plan assets subject to leveling (above)172 114 Total United States plan assets $337 $341 

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)15.    PENSION PLANS (continued)

The following tables summarize the fair values and applicable fair value hierarchy levels of non-United States pension plan assets:(In millions)Level 1Level 2Level 3TotalAs of December 31, 2024Equities$— $1 $— $1 Fixed income and cash equivalents:Cash and cash equivalents— 52 — 52 Fixed income— 10 — 10 Total non-United States plan assets subject to leveling $— $63 $— $63 As of December 31, 2023Equities$— $1 $— $1 Fixed income and cash equivalents:Cash and cash equivalents— 57 — 57 Fixed income— 11 — 11 Total non-United States plan assets subject to leveling $— $69 $— $69 December 31,(In millions)20242023Plan assets measured at NAV:Equities $41 $28 Fixed income and cash equivalents112 122 Absolute return strategies64 62 Total non-United States plan assets not subject to leveling217 212 Total non-United States plan assets subject to leveling (above)63 69 Total non-United States plan assets $280 $281 Investment StrategyThe current targeted asset allocation for the United States pension plan is to have 15% of assets invested in equities, 67% in intermediate and long-term fixed income securities, high yield and cash and 18% in other strategies. Assets are rebalanced at least quarterly to conform to policy tolerances. The Company