Company: OC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001370946-25-000205
Chunk: 128

Company: Owens Corning
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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 Statements. Doors contributed revenues of $1,094 million and earnings of $23 million to the Company for the six months ended June 30, 2025. During the six months ended June 30, 2024 Doors contributed revenues of $311 million and earnings of $25 million. Please refer to Note 3 of the Consolidated Financial Statements for further information.During the three and six months ended June 30, 2025, the Company incurred no transaction costs. During the three and six months ended June 30, 2024, the Company incurred $29 million and $47 million of transaction costs, respectively. During the three and six months ended June 30, 2025, the Company incurred $4 million and $6 million of integration costs, respectively, related to its acquisition of Masonite. During the three and six months ended June 30, 2024, the company incurred $21 million of integration costs related to its acquisition of Masonite. These expenses are included in Other expense, net on the Company's Consolidated Statements of Earnings.The fair value of the total purchase consideration transferred was determined as follows:(In millions)Fair Value of Purchase ConsiderationClosing cash consideration$2,935 Pre-combination vesting portion of fair value of Masonite outstanding equity awards converted to Owens Corning time vesting RSUs35 Repayment of Masonite term loan facility216 Total transaction consideration$3,186 

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

The closing cash as part of consideration was calculated at the price of $133.00 per outstanding Masonite common share. At the close of the acquisition of Masonite, there were 22.07 million Masonite common shares outstanding. The fair value of Owens Corning common stock underlying Masonite outstanding equity awards that have been converted into awards with respect to Owens Corning common stock is calculated as follows:(In millions, except share and per share amounts)AmountNumber of Masonite stock awards outstanding (a)639,608 Exchange ratio (b)0.7642Owens Corning equity awards issued for Masonite outstanding equity awards488,778 10-day weighted average closing share price of Owens Corning common stock (c)$174.03 Fair value of Owens Corning time vesting RSUs issued for Masonite outstanding equity awards$85 Less: