Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 290

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 290
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 $30 Interest on lease liabilities$11 $6 $4 Short-term lease cost$8 $6 $12 Variable lease cost$11 $8 $6 

79

Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)10.    LEASES (continued)

Other InformationThe tables below present supplemental information related to leases:December 31,Weighted-average remaining lease term (years)202420232022Operating leases8.24.64.8Finance leases13.69.59.6December 31,Weighted-average discount rate202420232022Operating leases5.22 %3.79 %3.32 %Finance leases4.88 %4.02 %3.46 %Maturities of Lease LiabilitiesThe table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 31, 2024:(In millions)Operating LeasesFinance LeasesFiscal Year:2025$108 $54 202686 46 202770 38 202860 33 202947 25 2030 and beyond209 267 Total minimum lease payments580 463 Less: implied interest118 141 Present value of future minimum lease payments462 322 Less: current lease obligations87 38 Long-term lease obligations$375 $284 

11.    OTHER CURRENT LIABILITIES

Other current liabilities consist of the following: December 31,(In millions)20242023Payroll, vacation pay and incentive compensation$255 $224 Income, property and other non-payroll taxes102 91 Other385 300 Total other current liabilities$742 $615 

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

12.    WARRANTIES

The Company records a liability for warranty obligations at the date the related products are sold. Adjustments are made as new information becomes available. Please refer to Note 1 for information about our separately-priced extended warranty contracts. A reconciliation of the warranty liability is as follows: December 31,(In millions)20242023Beginning balance$97 $88 Amounts accrued