Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 219

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 219
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 of translating sales denominated in foreign currencies into United States dollars, which more than offset lower manufacturing costs of $90 million and $23 million of favorable delivery and input costs.

OUTLOOK

Global glass reinforcements market demand has several economic indicators, including residential, non-residential construction and manufacturing production indices, as well as global wind installations. The Company anticipates continued impacts of economic uncertainty in a dynamic global environment, as well as competitive pricing pressure. The Company remains focused on managing costs, capital expenditures and working capital.

Corporate, Other and Eliminations

Certain items, such as general corporate expenses or income and certain other expense or income items, are excluded from the internal evaluation of segment performance. Accordingly, these items are not reflected in EBIT for our reportable segments and are included within Corporate, Other and Eliminations. 

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Table of ContentsITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)

The following table summarizes these items and depreciation and amortization expense included within Corporate, Other and Eliminations:

 Twelve Months Ended December 31,(In millions)20242023Restructuring costs$(86)$(169)Gain on sale of Santa Clara, California site— 189 Pension settlement losses— (145)Acquisition-related integration costs(83)— Gains on sale of certain precious metals19 2 Strategic review-related charges(46)— Acquisition-related transaction costs(49)— Loss on sale of business(91)— Recognition of acquisition inventory fair value step-up(18)— Paroc marine recall(58)(15)Impairment of venture investments(15)— Impairment due to strategic review(483)— General corporate expense and other(256)(230)Total Corporate, Other and Eliminations EBIT$(1,166)$(368)Depreciation and amortization$90 $163 

EBIT

The impact on EBIT from Corporate, Other and Eliminations in 2024 was $798 million higher compared to 2023. The increase was primarily driven by impairment charges on the glass reinforcements strategic review, the prior year pre-tax gain on the sale of the Santa Clara, California site, loss on the sale of our building materials business in China and Korea in the current year as well as higher acquisition-related costs, partially offset by gains on sales of precious metals and lower year over year restructuring charges.

General corporate expense and other in 2024 was $26 million