Owens Corning
For the period ended Mar 31, 2025. Filed May 7, 2025.
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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, 2025 · Filed May 7, 2025
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7. Property, Plant and Equipment
- PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following:
| (In millions) | March 31,2025 | December 31, 2024 |
|---|---|---|
| Land | $183 | $178 |
| Buildings and leasehold improvements | 1,281 | 1,238 |
| Machinery and equipment | 5,022 | 4,876 |
| Construction in progress | 535 | 564 |
| Property, plant and equipment, gross | 7,021 | 6,856 |
| Accumulated depreciation | (3,162) | (3,038) |
| Property, plant and equipment, net | $3,859 | $3,818 |
Machinery and equipment include certain precious metals used in our production tooling, which comprise approximately 4% of total machinery and equipment as of March 31, 2025 and December 31, 2024. Precious metals used in our production tooling are depleted as they are consumed during the production process, depletion expense is included in Cost of Sales on the Company's Consolidated Statements of Earnings.
Our production tooling needs are changing due to the announced sale of our GR business. As a result, the Company sold certain precious metals resulting in gains of $9 million for the three months ended March 31, 2025. These gains are included in Other expense, net on the Consolidated Statements of Earnings and are reflected in the Corporate, Other and Eliminations reporting category. The cash proceeds from the sales are included in Net cash flow used for investing activities in the Consolidated Statements of Cash Flow.
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