Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 69

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 69
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 below:

  Three Months EndedMarch 31,(In millions)20252024NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWENS CORNING$255 $278 Net loss attributable to non-redeemable and redeemable noncontrolling interests— (1)NET EARNINGS FROM CONTINUING OPERATIONS255 277 Income tax expense88 83 EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES343 360 Interest expense, net64 16 EARNINGS FROM CONTINUING OPERATIONS BEFORE INTEREST AND TAXES407 376 Less: Adjusting items from above1 (31)Depreciation and amortization159108ADJUSTED EBITDA FROM CONTINUING OPERATIONS $565 $515 

Segment Results

At the beginning of 2025, we changed our segment measure of profitability for our reportable segments from Earnings before interest and taxes ("EBIT") to Earnings before interest, taxes, depreciation and amortization (“EBITDA”), as the measure used for purposes of making decisions about allocating resources to the segments and assessing performance, effective January 1, 2025. Prior period amounts have been recast to reflect the new segment measure for profitability.

EBITDA by segment consists of net sales less related costs and expenses plus depreciation and amortization. EBITDA is presented on a basis that is used internally for evaluating segment performance. Certain items, such as general corporate expenses or income and certain other expense or income items, are excluded from the internal evaluation of segment performance. Accordingly, these items are not reflected in EBITDA for our reportable segments and are included in the Corporate, Other and Eliminations category, which is presented following the discussion of our reportable segments. Segment EBITDA is the principal measure used by the chief operating decision maker ("CODM") to assess segment performance and make decisions on the allocation of resources.

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Table of ContentsITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

Roofing

The table below provides a summary of net sales and EBITDA for the Roofing segment:

  Three Months EndedMarch 31,(In millions)20252024Net sales$1,120 $1,098 % change from prior year2 %N/AEBITDA$332 $338 EBITDA as a % of net sales30 %31