Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 321

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 321
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$12.70 Basic earnings per share is calculated by dividing earnings attributable to Owens Corning by the weighted-average number of shares of the Company’s common stock outstanding during the period. Outstanding shares consist of issued shares less treasury stock.On December 1, 2022, the Board of Directors approved a new share repurchase program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion. The Company repurchased 2.6 million shares of its common stock for $433 million, inclusive of applicable taxes, during the twelve months ended December 31, 2024 under the Repurchase Authorization. As of December 31, 2024, 6.4 million shares remained available for repurchase under the Repurchase Authorization. The Company repurchased 5.4 million shares of its common stock for $629 million, inclusive of applicable taxes, during the twelve months ended December 31, 2023.For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the Company did not have any non-vested restricted stock units or non-vested performance share units that had an anti-dilutive effect on earnings per share.

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

21.    INCOME TAXES

The following table summarizes our Earnings before taxes and Income tax expense: Twelve Months Ended December 31,(In millions)202420232022Earnings before taxes:United States$1,194 $1,360 $1,286 Foreign(278)231 328 Total$916 $1,591 $1,614 Income tax expense:CurrentUnited States$222 $286 $180 State and local39 62 38 Foreign106 65 125 Total current367 413 343 DeferredUnited States(12)(4)50 State and local3 5 (6)Foreign(83)(13)(14)Total deferred(92)(12)30 Total income tax expense$275 $