Owens Corning
For the period ended Mar 31, 2024. Filed Apr 24, 2024.
View on SEC.govAbout this filing
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
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
-6 -
CONSOLIDATED BALANCE SHEETS
(in millions, except per share amounts)
| ASSETS | March 31,2024 | December 31,2023 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash and cash equivalents | $1,254 | $1,615 |
| Receivables, less allowance of $3 at March 31, 2024 and $11 at December 31, 2023 | 1,410 | 987 |
| Inventories | 1,205 | 1,198 |
| Other current assets | 112 | 117 |
| Total current assets | 3,981 | 3,917 |
| Property, plant and equipment, net | 3,796 | 3,841 |
| Operating lease right-of-use assets | 221 | 222 |
| Goodwill | 1,385 | 1,392 |
| Intangible assets, net | 1,510 | 1,528 |
| Deferred income taxes | 30 | 24 |
| Other non-current assets | 346 | 313 |
| TOTAL ASSETS | $11,269 | $11,237 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $1,177 | $1,216 |
| Current operating lease liabilities | 59 | 62 |
| Long-term debt - current portion | 433 | 431 |
| Other current liabilities | 599 | 615 |
| Total current liabilities | 2,268 | 2,324 |
| Long-term debt, net of current portion | 2,645 | 2,615 |
| Pension plan liability | 68 | 69 |
| Other employee benefits liability | 110 | 112 |
| Non-current operating lease liabilities | 164 | 165 |
| Deferred income taxes | 423 | 427 |
| Other liabilities | 319 | 315 |
| Total liabilities | 5,997 | 6,027 |
| Redeemable noncontrolling interest | 25 | 25 |
| OWENS CORNING STOCKHOLDERS’ EQUITY | ||
| Preferred stock, par value $0.01 per share (a) | — | — |
| Common stock, par value $0.01 per share (b) | 1 | 1 |
| Additional paid in capital | 4,159 | 4,166 |
| Accumulated earnings | 5,041 | 4,794 |
| Accumulated other comprehensive deficit | (539) | (503) |
| Cost of common stock in treasury (c) | (3,433) | (3,292) |
| Total Owens Corning stockholders’ equity | 5,229 | 5,166 |
| Noncontrolling interests | 18 | 19 |
| Total equity | 5,247 | 5,185 |
| TOTAL LIABILITIES AND EQUITY | $11,269 | $11,237 |
(a)10 shares authorized; none issued or outstanding at March 31, 2024 and December 31, 2023
(b)400 shares authorized;135.5 issued and 86.7 outstanding at March 31, 2024;135.5 issued and 87.2 outstanding at December 31, 2023
(c)48.8 shares at March 31, 2024 and 48.3 shares at December 31, 2023
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