Company: OC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001370946-25-000241
Chunk: 28

Company: Owens Corning
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 for further information.

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

Masonite is a leading global designer, manufacturer, marketer and distributor of interior and exterior doors and door systems for the residential new construction and residential repair and remodeling markets. The addition of Masonite's market-leading doors business creates a new growth platform for the Company, strengthening the Company's position in building and construction and expanding its offering of branded residential building products. Masonite's operating results and purchase price allocation have been included in the Company's Doors reportable segment from May 15, 2024, the effective date of the Arrangement, within the Consolidated Financial Statements. Doors contributed revenues of $1,639 million and earnings of $14 million to the Company for the nine months ended September 30, 2025. During the nine months ended September 30, 2024 Doors contributed revenues of $884 million and earnings of $54 million. Please refer to Note 3 of the Consolidated Financial Statements for further information.During the three and nine months ended September 30, 2025, the Company incurred no transaction costs. During the three and nine months ended September 30, 2024, the Company incurred $2 million and $49 million of transaction costs, respectively. During the three and nine months ended September 30, 2025, the Company incurred $9 million and $15 million of integration costs, respectively, related to its acquisition of Masonite. During the three and nine months ended September 30, 2024, the Company incurred $53 million and $74 million of integration costs, respectively, 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 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