Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 21

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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2025:(In millions)March 31, 2025European building and technical insulation trade name$88 Definite-Lived Intangible AssetsThe Company amortizes the cost of other intangible assets over their estimated useful lives which, individually, range up to 25 years. The Company’s future cash flows are not materially impacted by its ability to extend or renew agreements related to its amortizable intangible assets.Amortization expense for intangible assets for the three months ended March 31, 2025 and March 31, 2024 was $38 million and $16 million, respectively. Amortization expense for intangible assets is estimated to be $109 million for the remainder of 2025.The estimated amortization expense for intangible assets for the next five fiscal years ended December 31 is as follows:(In millions)Amortization2026$133 2027$124 2028$124 2029$109 2030$100 

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

7.    PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:(In millions)March 31,2025December 31, 2024Land$183 $178 Buildings and leasehold improvements1,281 1,238 Machinery and equipment5,022 4,876 Construction in progress535 564 Property, plant and equipment, gross7,021 6,856 Accumulated depreciation(3,162)(3,038)Property, plant and equipment, net$3,859 $3,818 Machinery and equipment include certain precious metals used in our production tooling, which comprise approximately 4% of total machinery and equipment as of March 31, 2025 and December 31, 2024. Precious metals used in our production tooling are depleted as they are consumed during the production process, depletion expense is included in Cost of Sales on the Company's Consolidated Statements of Earnings.Our production tooling needs are changing due to the announced sale of our GR business. As a result, the Company sold certain precious metals resulting in gains of $9 million for the three months ended March 31, 2025. These gains are included in Other expense, net on the Consolidated Statements of Earnings and are reflected in the Corporate, Other