Owens Corning
For the period ended Mar 31, 2024. Filed Apr 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 24, 2024
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6. Property, Plant and Equipment
- 17 -
- PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following (in millions):
| March 31,2024 | December 31, 2023 | |
|---|---|---|
| Land | $167 | $168 |
| Buildings and leasehold improvements | 1,292 | 1,263 |
| Machinery and equipment | 5,526 | 5,402 |
| Construction in progress | 526 | 665 |
| 7,511 | 7,498 | |
| Accumulated depreciation | (3,715) | (3,657) |
| Property, plant and equipment, net | $3,796 | $3,841 |
Machinery and equipment include certain precious metals used in our production tooling, which comprise approximately 10% of total machinery and equipment as of March 31, 2024 and December 31, 2023. Precious metals used in our production tooling are depleted as they are consumed during the production process, which typically represents an annual expense of approximately 2% of the outstanding carrying value.
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