Company: OC
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022858
Chunk: 30

Company: Owens Corning
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
---
Accelerated depreciationCost of sales$— $(4)Other exit costsCost of sales— (3)SeveranceOther expense, net(2)(7)Other exit costsOther expense, net(1)— Total restructuring costs$(3)$(14)Summary of Unpaid LiabilitiesThe following table summarizes the status of the unpaid liabilities from the Company’s restructuring activities:March 31, 2025(In millions)Acquisition-related RestructuringBuilding Materials Business ExitGlobal Composites RestructuringProtective Packaging ExitWabash Facility ClosureEuropean Operating Structure OptimizationBalance at December 31, 2024$3 $6 $14 $— $— $5 Restructuring costs4 — — — — (1)Payments(4)— (1)— — (1)Accelerated depreciation and other non-cash items— — — — — (1)Balance at March 31, 2025$3 $6 $13 $— $— $2 Cumulative charges incurred$59 $6 $33 $83 $33 $14 As of March 31, 2025, the remaining liability balance was comprised of $24 million related to severance, which the Company expects to pay over the next twelve months. March 31, 2024(In millions)Global Composites RestructuringProtective Packaging ExitWabash Facility ClosureEuropean Operating Structure OptimizationBalance at December 31, 2023$12 $1 $3 $6 Restructuring costs9 3 — 2 Payments(1)(3)(2)(2)Accelerated depreciation and other non-cash items(4)(1)— — Balance at March 31, 2024$16 $— $1 $6 Cumulative charges incurred$25 $81 $33 $14 

26

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

12.    DEBT 

Details of the Company’s outstanding long-term debt, as well as the fair values, are as follows:March 31, 2025December 31, 2024(In millions)Carrying ValueFair ValueCarrying ValueFair Value3.400% senior notes, net of discount and financing fees