Company: OC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001370946-25-000205
Chunk: 34

Company: Owens Corning
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 OptimizationIn March 2023, the Company took actions to optimize the operating structure of its segments across Europe to increase its competitiveness. These actions are expected to result in cumulative costs of approximately $20 million, primarily related to severance and other exit costs. During the first six months of 2025, the Company recorded $1 million of income primarily related to a reduction in severance. The Company does not expect to recognize significant incremental costs related to these actions.Consolidated Statements of Earnings From Continuing Operations ClassificationThe following table presents the impact and respective location of total restructuring on the Consolidated Statements of Earnings From Continuing Operations, which are included within Corporate, Other and Eliminations:Three Months Ended June 30,Six Months Ended June 30,(In millions)Location2025202420252024Accelerated depreciationCost of sales$(9)$(3)$(9)$(7)Other exit costsCost of sales(1)(2)(1)(5)Other exit costsMarketing and administrative expenses(1)(1)(1)(1)SeveranceOther expense, net(7)(41)(9)(48)Other exit costsOther expense, net— — (1)— Total restructuring costs$(18)$(47)$(21)$(61)Summary of Unpaid LiabilitiesThe following table summarizes the status of the unpaid liabilities from the Company’s restructuring activities:June 30, 2025(In millions)Acquisition-related RestructuringBuilding Materials Business SaleGlobal Composites RestructuringProtective Packaging ExitWabash Facility ClosureEuropean Operating Structure OptimizationBalance at December 31, 2024$3 $6 $14 $— $— $5 Restructuring costs17 — 5 — — (1)Payments(5)— (3)— — (2)Accelerated depreciation and other non-cash items(9)— 2 — — — Balance at June 30, 2025$6 $6 $18 $— $— $2 Cumulative charges incurred$72 $6 $38 $83 $33 $14 As of June 30, 2025, the remaining liability balance was comprised of $32 million related to severance, which the Company expects to pay over the next twelve months. 

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL