Company: OC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001370946-25-000205
Chunk: 13

Company: Owens Corning
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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ATED FINANCIAL STATEMENTS (continued)(unaudited)

Major classes of assets and liabilities of discontinued operations include the following:(In millions)June 30, 2025December 31, 2024ASSETSCURRENT ASSETSCash and cash equivalents$35 $40 Receivables, less allowance118 104 Inventories248 260 Other current assets22 23 Current assets of discontinued operations423 427 Property, plant and equipment, net393 346 Goodwill101 98 Deferred income taxes5 46 Valuation allowance for discontinued operations(354)— Other non-current assets106 89 Non-current assets of discontinued operations$251 $579 LIABILITIESCURRENT LIABILITIESAccounts payable$105 $129 Other current liabilities77 97 Current liabilities of discontinued operations182 226 Other liabilities109 95 Non-current liabilities of discontinued operations$109 $95 Cash flows related to discontinued operations are included within the Consolidated Statements of Cash Flows. Selected financial information related to cash flows from discontinued operations are below:Six Months Ended June 30,(In millions)20252024Depreciation and amortization$— $49 Cash paid for property, plant and equipment$43 $44 

3.    SEGMENT INFORMATION

Effective January 1, 2025, due to a strategic shift in how we manage our business as a result of the GR Agreement, we are presenting the GR business as a discontinued operation. We reorganized our reportable segments to align to our new operating and management structure. As a result, all prior period information was recast to reflect this change. The Company now has three reportable segments: Roofing, Insulation and Doors. The Company's vertically integrated glass non-wovens business that supports the Company’s Roofing business and other building products customers, along with its structural lumber business, were integrated into the Roofing business segment. Two glass melting plants, which make fiber for the non-wovens business, were integrated into the Insulation segment. Unless otherwise specified, the information in the note refers to only the continuing operations of the Company.Operating segments are aggregated into reportable segments based on consideration of the following factors: similarity of economic characteristics, the nature of business activities, the management structure directly accountable to our chief operating decision maker ("CODM") for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors and investors