Company: OC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001370946-25-000205
Chunk: 121

Company: Owens Corning
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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ging instruments and their respective location on the Consolidated Balance Sheets:  Fair Value at(In millions)LocationJune 30, 2025December 31, 2024Derivative assets designated as hedging instruments:Cash flow hedges:Natural gas forward swaps for continuing operationsOther current assets$1 $3 Natural gas forward swaps for discontinued operationsOther current assets of discontinued operations$— $1 Derivative liabilities designated as hedging instruments:Cash flow hedges:Natural gas forward swaps for continuing operationsOther current liabilities$2 $1 Natural gas forward swaps for discontinued operationsOther current liabilities of discontinued operations$— $— Derivative assets not designated as hedging instruments:Foreign exchange forward contracts for discontinued operationsOther current assets of discontinued operations$— $1 Derivative liabilities not designated as hedging instruments:Foreign exchange forward contracts for continuing operationsOther current liabilities$— $1 Foreign exchange forward contracts for discontinued operationsOther current liabilities of discontinued operations$1 $1 

17

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

Consolidated Statements of Earnings ActivityThe following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings:Three Months EndedJune 30,Six Months EndedJune 30,(In millions)Location2025202420252024Derivative activity designated as hedging instruments:Natural gas cash flow hedges:Amount of loss (gain) reclassified from AOCI (as defined below) into earnings (a)Cost of sales$— $3 $(1)$9 Amount of loss reclassified from AOCI (as defined below) into earnings (a)Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax$— $1 $— $4 Treasury interest rate lock:Amount of gain reclassified from AOCI (as defined below) into earnings (a)Interest expense, net$(1)$— $(2)$— Derivative activity not designated as hedging instruments:Foreign currency:Amount of gain recognized in earnings (b)Other expense, net$— $— $(1)$(1)Amount of loss (gain) recognized in earnings (c)Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax$3 $(3)$5 $(3