Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 293

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 293
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 and accelerated amortization of definite-lived intangibles. During 2024, the Company recorded $5 million of cash charges, primarily related to other exit costs. The Company does not expect to recognize significant incremental costs related to these actions.Wabash Facility ClosureIn April 2023, the Company took actions to support its strategy to operate a flexible and cost-efficient manufacturing network through decisions to relocate the Wabash, Indiana mineral wool operations to Joplin, Missouri and to exit the U.S. granulated mineral wool market. These actions resulted in cumulative costs of approximately $30 million, primarily related to severance and accelerated depreciation. During 2024, the Company did not incur any charges relating to this project and does not expect to incur any future charges.European Operating Structure OptimizationIn March 2023, the Company took actions to optimize the operating structure of its segments across Europe to increase its competitiveness. These actions are expected to result in cumulative costs of approximately $20 million, primarily related to severance and other exit costs. During 2024, the Company recorded $3 million of charges primarily related to severance costs. The Company does not expect to recognize significant incremental costs related to these actions.

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)13.    RESTRUCTURING, ACQUISITION AND DIVESTITURE-RELATED COSTS (continued)

Composites Strategic Realignment ActionsOn July 1, 2022, the Company finalized the sale of the European portion of the DUCS product line located in Chambéry, France, within the Company's Composites segment. The Company recorded a pre-tax charge of $30 million in Other expense, net on the Consolidated Statements of Earnings in 2022 to reflect the fair value less cost to sell the assets. The Company also took actions to convert the DUCS manufacturing facilities located in Anderson, South Carolina and Kimchon, Korea to produce other glass fiber products needed to support our growth strategy in building and construction applications. During 2023, the Company recorded $2 million of charges primarily related to other exit costs. During 2024, the Company did not incur any charges relating to this project and does not expect any future charges.Roofing Restructuring ActionsIn December 2021, the Company took actions to restructure operations within the Roofing segment's components product line by relocating