Owens Corning
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Feb 24, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
20. Earnings per Share
- EARNINGS PER SHARE
The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per-share:
| Twelve Months Ended December 31, | |||
|---|---|---|---|
| (In millions, except per share amounts) | 2024 | 2023 | 2022 |
| Net earnings attributable to Owens Corning | $647 | $1,196 | $1,241 |
| Weighted-average number of shares outstanding used for basic earnings per share | 86.9 | 90.1 | 96.6 |
| Non-vested restricted and performance shares | 0.9 | 0.9 | 1.1 |
| Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share | 87.8 | 91.0 | 97.7 |
| Earnings per common share attributable to Owens Corning common stockholders: | |||
| Basic | $7.45 | $13.27 | $12.85 |
| Diluted | $7.37 | $13.14 | $12.70 |
Basic earnings per share is calculated by dividing earnings attributable to Owens Corning by the weighted-average number of shares of the Company’s common stock outstanding during the period. Outstanding shares consist of issued shares less treasury stock.
On December 1, 2022, the Board of Directors approved a new share repurchase program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion. The Company repurchased 2.6 million shares of its common stock for $433 million, inclusive of applicable taxes, during the twelve months ended December 31, 2024 under the Repurchase Authorization. As of December 31, 2024,6.4 million shares remained available for repurchase under the Repurchase Authorization. The Company repurchased 5.4 million shares of its common stock for $629 million, inclusive of applicable taxes, during the twelve months ended December 31, 2023.
For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the Company didnot have any non-vested restricted stock units or non-vested performance share units that had an anti-dilutive effect on earnings per share.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.