Company: OC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001370946-25-000241
Chunk: 117

Company: Owens Corning
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 one of the Company’s preexisting suppliers. The related party transactions with this supplier consist of the purchase of raw materials. Purchases from the related party supplier were $19 million and $68 million for the three and nine months ended September 30, 2025, respectively, and $20 million and $85 million for the three and nine months ended September 30, 2024, respectively. As of September 30, 2025 and December 31, 2024, amounts due to the related party supplier were $3 million and $3 million, respectively. Supplier Finance ProgramsWe review supplier terms and conditions on an ongoing basis, and have negotiated payment terms extensions in recent years in connection with our efforts to reduce working capital and improve cash flow. Separate from those terms extension actions, certain of our subsidiaries have entered into paying agency agreements with third-party administrators. These voluntary supply chain finance programs (collectively, the “Programs”) generally give participating suppliers the ability to sell, or otherwise pledge as collateral, their receivables from the Company to the participating financial institutions, at the sole discretion of both the suppliers and financial institutions. The Company is not a party to the arrangements between the suppliers and the financial institutions. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by the suppliers’ decisions to sell, or otherwise pledge as collateral, amounts under these arrangements. The Company’s payment terms to the financial institutions, including the timing and amount of payments, are based on the original supplier invoices. One of the Programs includes a parent guarantee to the participating financial institution for a certain U.S. subsidiary that, at the time of the respective program’s inception in 2015, was a guarantor subsidiary of the Company’s credit agreement. The obligations are presented as Accounts payable within Total current liabilities on the Consolidated Balance Sheets and all activity related to the obligations is presented within operating activities on the Consolidated Statements of Cash Flow.The Company’s confirmed outstanding obligations under the Programs totaled $203 million and $234 million as of September 30, 2025 and December 31, 2024, respectively. The amounts of invoices paid under the Programs totaled $459 million and $405 million for the nine months ended September 30, 2025 and September 30, 2024, respectively.Pension and Other Postretirement BenefitsThe Company sponsors defined benefit pension plans. Under the plans, pension benefits are based on an employees’ years of