Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 24

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 805, Business Combinations, and recognized assets acquired and liabilities assumed at their fair values as of the effective date of the Arrangement, with the excess purchase consideration recorded to goodwill. The Company has not yet finalized the valuation of the assets acquired and liabilities assumed as of March 31, 2025. The Company is continuing to obtain information to complete its valuation of certain assets and liabilities, and during the three months ended March 31, 2025, the Company recorded measurement period adjustments to the purchase price allocation. Additional adjustments may be recorded to the fair value of intangible assets, property, plant and equipment, goodwill and deferred income taxes among other items during the measurement period, a period not to exceed 12 months from the acquisition date.

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

The following table summarizes the preliminary acquisition date fair value net of measurement period adjustments of net tangible and intangible assets acquired, net of liabilities assumed as part of the Arrangement:(In millions)As originally reportedMeasurement period adjustmentsAs adjustedCash and cash equivalents$282 $— $282 Receivables, net330 — 330 Inventories379 (1)378 Other current assets82 (4)78 Property, plant and equipment, net861 (3)858 Operating lease right-of-use assets253 — 253 Intangible assets1,579 (221)1,358 Deferred income taxes14 — 14 Other non-current assets91 — 91 Total assets3,871 (229)3,642 Accounts payable196 — 196 Current operating lease liabilities28 — 28 Other current liabilities187 — 187 Long-term debt867 — 867 Non-current operating lease liabilities235 — 235 Deferred income taxes413 (47)366 Other non-current liabilities32 3 35 Net assets acquired1,913 (185)1,728 Non-controlling interest(35)— (35)Goodwill1,308 185 1,493 Total net assets acquired$3,186 $— $3,186 The details on the methodology and significant inputs used for fair value of valuation are outlined below.GoodwillPreliminary purchase consideration allocation resulted in $1.5 billion in goodwill. Since the acquisition date, the