Owens Corning
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 14, 2024
OC$122.97-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
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| Twelve Months Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES | |||
| Net earnings | $1,193 | $1,241 | $995 |
| Adjustments to reconcile net earnings to cash provided by operating activities | |||
| Depreciation and amortization | 609 | 531 | 502 |
| Deferred income taxes | 26 | 37 | 44 |
| Pension annuity settlement charge | 145 | — | — |
| Stock-based compensation expense | 51 | 51 | 50 |
| Intangible assets impairment charge | — | 96 | — |
| Loss on extinguishment of debt | — | — | 9 |
| Gains on sale of certain precious metals | (2) | (18) | (53) |
| Gain on equity method investment | — | (130) | — |
| Gain on sale of site | (189) | — | — |
| Net loss on sale of assets or affiliates | — | 36 | — |
| Other adjustments to reconcile net earnings to cash provided by operating activities | (44) | 4 | 11 |
| Change in operating assets and liabilities: | |||
| Changes in receivables, net | (26) | (14) | (28) |
| Changes in inventories | 148 | (287) | (227) |
| Changes in accounts payable and accrued liabilities | (158) | 363 | 302 |
| Changes in other operating assets and liabilities | 3 | (81) | (65) |
| Pension fund contributions | (18) | (8) | (21) |
| Payments for other employee benefits liabilities | (11) | (11) | (13) |
| Other | (8) | (50) | (3) |
| Net cash flow provided by operating activities | 1,719 | 1,760 | 1,503 |
| NET CASH FLOW USED BY INVESTING ACTIVITIES | |||
| Cash paid for property, plant and equipment | (526) | (446) | (416) |
| Derivative settlements | — | 44 | (4) |
| Proceeds from the sale of assets or affiliates | 194 | 212 | 89 |
| Investment in subsidiaries and affiliates, net of cash acquired | (6) | (417) | (42) |
| Other | (18) | (16) | (4) |
| Net cash flow used by investing activities | (356) | (623) | (377) |
| NET CASH FLOW USED BY FINANCING ACTIVITIES | |||
| Payments on long-term debt | — | — | (193) |
| Purchase of noncontrolling interest | — | (9) | — |
| Dividends paid | (188) | (136) | (108) |
| Purchases of treasury stock | (657) | (795) | (570) |
| Finance lease payments | (33) | (30) | (23) |
| Other | 1 | (4) | 13 |
| Net cash flow used by financing activities | (877) | (974) | (881) |
| Effect of exchange rate changes on cash | 30 | (22) | (3) |
| Net increase in cash, cash equivalents and restricted cash | 516 | 141 | 242 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,107 | 966 | 724 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $1,623 | $1,107 | $966 |
| DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash paid during the year for income taxes | $428 | $319 | $244 |
| Cash paid during the year for interest | $135 | $123 | $133 |
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