Company: OC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001370946-25-000241
Chunk: 13

Company: Owens Corning
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 unit. This resulted in an allocation of $98 million of Goodwill to the discontinued operation.After allocating Goodwill to the discontinued operation, as well as at the end of each subsequent quarter, the Company compared the carrying value of the discontinued operation to the fair value of the discontinued operation, defined as the sale price less estimated selling costs. During the three and nine months ended September 30, 2025, the Company incurred a pre-tax loss on classification as discontinued operations of $28 million and $409 million, respectively. The loss is presented within Net earnings (loss) from discontinued operations attributable to Owens Corning, net of tax, on the Consolidated Statements of Earnings. An estimated valuation allowance of $379 million is recorded within Non-current assets of discontinued operations, on the Consolidated Balance Sheets.

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

The following table summarizes Earnings from discontinued operations attributable to Owens Corning, net of tax included within the Consolidated Statements of Earnings:Three Months Ended September 30,Nine Months Ended September 30,(In millions)2025202420252024NET SALES$301 $283 $877 $858 COST OF SALES245 226 679 695 OPERATING EXPENSESMarketing and administrative expenses18 21 53 63 Loss from classification as discontinued operation28 — 409 — Other expense (income), net10 (1)15 (3)Total operating expenses56 20 477 60 Interest expense, net2 1 4 3 Income tax (benefit) expense(3)2 35 16 NET EARNINGS (LOSS) FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO OWENS CORNING, NET OF TAX$1 $34 $(318)$84 Major classes of assets and liabilities of discontinued operations include the following:(In millions)September 30, 2025December 31, 2024ASSETSCURRENT ASSETSCash and cash equivalents$57 $40 Receivables, less allowance126 104 Inventories218 260 Other current assets23 23 Current assets of discontinued operations424 427 Property, plant and equipment, net414 346 Goodwill100 98 Deferred income taxes4 46 Valuation allowance for discontinued operations(379)—