Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 410

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 410
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.02 %2.35 %Expected return on plan assets5.15 %5.00 %3.93 %Rate of compensation increase3.25 %3.31 %3.31 % (a)    Not applicable due to changes in plan made on August 1, 2009 that were effective beginning January 1, 2010.The expected return on plan assets assumption is derived by taking into consideration the target plan asset allocation, historical rates of return on those assets, projected future asset class returns and net outperformance of the market by active investment managers. An asset return model is used to develop an expected range of returns on plan investments over a 30 year period, with the expected rate of return selected from a best estimate range within the total range of projected results. The result is then rounded down to the nearest 25 basis points.Items Measured at Fair ValueThe Company classifies and discloses pension plan assets in one of the following three categories:Level 1: Quoted market prices in active markets for identical assets.Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.Level 3: Unobservable inputs that are not corroborated by market data.Plan AssetsThe tables in this section show pension plan asset fair values and fair value leveling information. The assets are categorized into one of the three levels of the fair value hierarchy or are not subject to leveling, in the case of investments that are valued using the net asset value per share (or its equivalent) practical expedient (“NAV”).

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)15.    PENSION PLANS (continued)

The following tables summarize the fair values and applicable fair value hierarchy levels of United States pension plan assets:            (In millions)Level 1Level 2Level 3TotalAs of December 31, 2024Equities:Domestic$— $— $— $— International— — — — Fixed income and cash equivalents:Corporate bonds25 103 — 128 Government debt— 44 — 44 Total United States plan assets subject to leveling $25 $147 $— $172 As of December 31, 2023Equities:Domestic$— $— $— $— International— — —