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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. Income Taxes
- INCOME TAXES
The following table provides the Income tax expense and effective tax rate for the periods indicated:
| Three Months Ended March 31, | ||
|---|---|---|
| (In millions, except effective tax rate) | 2025 | 2024 |
| Income tax expense | $88 | $83 |
| Effective tax rate | 26% | 23% |
The difference between the effective tax rate and the U.S. federal statutory tax rate of 21% for the three months ended March 31, 2025 is primarily due to U.S. state and local income tax expense and foreign rate differential.
The difference between the effective tax rate and the U.S. federal statutory tax rate of 21% for the three months ended March 31, 2024 is primarily due to U.S. state and local income tax expense, partially offset by discrete tax benefits related to valuation allowance and stock-based compensation.
The Company continues to assert indefinite reinvestment in accordance with ASC 740 based on the laws as of enactment of the tax legislation.
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