Exhibit 99.2

Owens Corning and Subsidiaries

Consolidated Statement of Income (Loss)

(Unaudited)

(Dollars in millions)

	Combined Twelve Months Ended December 31, 2006			Successor			Predecessor
				Two Months Ended December 31, 2006			Ten Months Ended October 31, 2006			Twelve Months Ended December 31, 2005
NET SALES	$	6,461		$	909		$	5,552		$	6,323
COST OF SALES		5,395			799			4,596			5,165
Gross margin		1,066			110			956			1,158
Operating Expenses
Marketing and administrative expenses		537			92			445			565
Science and technology expenses		80			30			50			58
Restructure costs		39			27			12			—
Chapter 11 related reorganization items		55			10			45			45
Provision for asbestos litigation claims - Owens Corning		—			—			—			3,365
Provision (credit) for asbestos litigation claims - Fibreboard		(13	)		—			(13	)		902
Employee emergence equity program		6			6			—			—
(Gain) loss on sale of fixed assets and other		(71	)		5			(76	)		(34	)
Total operating expenses		633			170			463			4,901
INCOME (LOSS) FROM OPERATIONS		433			(60	)		493			(3,743	)
Interest expense, net		270			29			241			739
Gain on settlement of liabilities subject to compromise		(5,864	)		—			(5,864	)		—
Fresh-start accounting adjustments		(3,049	)		—			(3,049	)		—
INCOME (LOSS) BEFORE INCOME TAX EXPENSE		9,076			(89	)		9,165			(4,482	)
Income tax expense (benefit)		997			(28	)		1,025			(387	)
INCOME (LOSS) BEFORE MINORITY INTEREST AND EQUITY IN NET EARNINGS OF AFFILIATES		8,079			(61	)		8,140			(4,095	)
Minority interest and equity in net earnings (loss) of affiliates		(4	)		(4	)		—			(4	)
NET INCOME (LOSS)	$	8,075		$	(65	)	$	8,140		$	(4,099	)
RECONCILIATION TO ADJUSTED INCOME FROM OPERATIONS:
NET INCOME (LOSS)	$	8,075		$	(65	)	$	8,140		$	(4,099	)
Minority interest and equity in net earnings (loss) of affiliates		(4	)		(4	)		—			(4	)
INCOME (LOSS) BEFORE MINORITY INTEREST AND EQUITY IN NET EARNINGS OF AFFILIATES		8,079			(61	)		8,140			(4,095	)
Income tax expense (benefit)		997			(28	)		1,025			(387	)
INCOME (LOSS) BEFORE INCOME TAX EXPENSE		9,076			(89	)		9,165			(4,482	)
Gain on settlement of liabilities subject to compromise		(5,864	)		—			(5,864	)		—
Fresh-start accounting adjustments		(3,049	)		—			(3,049	)		—
Interest expense, net		270			29			241			739
INCOME (LOSS) FROM OPERATIONS		433			(60	)		493			(3,743	)
Adjustments to remove items impacting comparability:
Provison for asbestos litigation		(13	)		—			(13	)		4,267
Chapter 11 related reorganization items		55			10			45			45
Impact of inventory write-up		44			44			—			—
In-process research and development		21			21			—			—
Restructuring activities		55			44			11			—
Gain on sale of metals		(45	)		—			(45	)		(7	)
Other		19			12			7			(18	)
Total adjustments to remove items impacting comparability		136			131			5			4,287
ADJUSTED INCOME FROM OPERATIONS	$	569		$	71		$	498		$	544
DEPRECIATION AND AMORTIZATION	$	278		$	69		$	209		$	234

Owens Corning and Subsidiaries

Consolidated Statement of Income (Loss)

(Unaudited)

(Dollars in millions)

	Combined Three Months Ended December 31, 2006			Successor			Predecessor
				Two Months Ended December 31, 2006			One Month Ended October 31, 2006			Three Months Ended December 31, 2005
NET SALES	$	1,477		$	909		$	568		$	1,713
COST OF SALES		1,269			799			470			1,405
Gross margin		208			110			98			308
Operating Expenses
Marketing and administrative expenses		125			92			33			156
Science and technology expenses		35			30			5			15
Restructure costs		29			27			2			—
Chapter 11 related reorganization items		27			10			17			5
Provision (credit) for asbestos litigation claims - Owens Corning		—			—			—			(69	)
Provision (credit) for asbestos litigation claims -Fibreboard		—			—			—			(5	)
Employee emergence equity program		6			6			—			—
(Gain) loss on sale of fixed assets and other		(5	)		5			(10	)		(24	)
Total operating expenses		217			170			47			78
INCOME (LOSS) FROM OPERATIONS		(9	)		(60	)		51			230
Interest expense, net		48			29			19			199
Gain on settlement of liabilities subject to compromise		(5,864	)		—			(5,864	)		—
Fresh-start accounting adjustments		(3,049	)		—			(3,049	)		—
INCOME (LOSS) BEFORE INCOME TAX EXPENSE		8,856			(89	)		8,945			31
Income tax expense (benefit)		1,151			(28	)		1,179			(304	)
INCOME (LOSS) BEFORE MINORITY INTEREST AND EQUITY IN NET EARNINGS OF AFFILIATES		7,705			(61	)		7,766			335
Minority interest and equity in net earnings (loss) of affiliates		(6	)		(4	)		(2	)		3
NET INCOME (LOSS)	$	7,699		$	(65	)	$	7,764		$	338
RECONCILIATION TO ADJUSTED INCOME FROM OPERATIONS:
NET INCOME (LOSS)	$	7,699		$	(65	)	$	7,764		$	338
Minority interest and equity in net earnings (loss) of affiliates		(6	)		(4	)		(2	)		3
INCOME (LOSS) BEFORE MINORITY INTEREST AND EQUITY IN NET EARNINGS OF AFFILIATES		7,705			(61	)		7,766			335
Income tax expense (benefit)		1,151			(28	)		1,179			(304	)
INCOME (LOSS) BEFORE INCOME TAX EXPENSE		8,856			(89	)		8,945			31
Gain on settlement of liabilities subject to compromise		(5,864	)		—			(5,864	)		—
Fresh-start accounting adjustments		(3,049	)		—			(3,049	)		—
Interest expense, net		48			29			19			199
INCOME (LOSS) FROM OPERATIONS		(9	)		(60	)		51			230
Adjustments to remove items impacting comparability:
Provison for asbestos litigation		—			—			—			(74	)
Chapter 11 related reorganization items		27			10			17			5
Impact of inventory write-up		44			44			—			—
In-process research and development		21			21			—			—
Restructuring activities		45			44			1			—
Gain on sale of metals		—			—			—			(7	)
Other		15			12			3			(5	)
Total adjustments to remove items impacting comparability		152			131			21			(81	)
ADJUSTED INCOME FROM OPERATIONS	$	143		$	71		$	72		$	149
DEPRECIATION AND AMORTIZATION	$	94		$	69		$	25		$	53

Owens Corning and Subsidiaries

Condensed Consolidated Balance Sheet

(Unaudited)

(Dollars in millions)

	Successor		Predecessor
	December 31,   2006		December 31, 2005
ASSETS
Current
Cash and cash equivalents	$	1,089	$	1,559
Receivables, net		573		608
Inventories		749		477
Other current assets		141		61
Total current		2,552		2,705
Other
Restricted cash		—		1,622
Deferred income taxes		549		1,432
Goodwill and other intangible assets		2,611		226
Other noncurrent assets		237		738
Total other		3,397		4,018
Net plant and equipment		2,521		2,012
TOTAL ASSETS	$	8,470	$	8,735
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current
Accounts payable and accrued liabilities	$	1,081	$	1,026
Accrued interest		39		741
Short-term debt and current portion of long-term debt		1,440		19
Total current		2,560		1,786
Long-term debt		1,296		36
Other long-term liabilities		884		1,293
Liabilities subject to compromise		—		13,520
Company obligated securities of entities holding solely parent debentures - subject to compromise		—		200
Minority interest		44		47
Stockholders’ equity (deficit)		3,686		(8,147	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	8,470	$	8,735

Owens Corning and Subsidiaries

Condensed Consolidated Statement of Cash Flows

(Unaudited)

(Dollars in millions)

	Combined Twelve Months Ended December 31, 2006			Successor			Predecessor
				Two Months Ended December 31, 2006			Ten Months Ended October 31, 2006			Twelve Months Ended December 31, 2005
NET CASH FLOW FROM OPERATIONS
Net income (loss)	$	8,075		$	(65	)	$	8,140		$	(4,099	)
Adjustments to reconcile net income (loss) to cash provided by operating activities
Provision for asbestos litigation claims		21			—			21			4,277
Depreciation and amortization		278			69			209			234
Change in deferred taxes		160			(48	)		208			(467	)
Provision for (payment of) post-petition interest/fees on pre-petition obligations		(728	)		(31	)		(697	)		735
Fresh-start accounting adjustments, net of tax		(2,243	)		—			(2,243	)		—
Gain on settlement of liabilities subject to compromise		(5,864	)		—			(5,864	)		—
Payments related to Chapter 11 filings		(131	)		(131	)		—			—
Payment to asbestos trust		(1,250	)		—			(1,250	)		—
Changes in receivables, inventories, accounts payable and accrued liabilities		24			312			(288	)		24
Other		(230	)		(91	)		(139	)		42
Net cash flow from operating activities		(1,888	)		15			(1,903	)		746
NET CASH FLOW FROM INVESTING
Additions to plant and equipment		(361	)		(77	)		(284	)		(288	)
Investment in subsidiaries, net of cash acquired		(47	)		—			(47	)		(14	)
Proceeds from the sale of assets or affiliate		82			—			82			19
Net cash flow from investing activities		(326	)		(77	)		(249	)		(283	)
NET CASH FLOW FROM FINANCING
Proceeds from issuance of bonds		1,178			—			1,178			—
Proceeds from issuance of new common stock		2,187			—			2,187			—
Payments to pre-petition lenders		(1,516	)		(55	)		(1,461	)		—
Other cash used for financing activities		(111	)		1			(112	)		(30	)
Net cash flow from financing activities		1,738			(54	)		1,792			(30	)
Effect of exchange rate changes on cash		6			—			6			1
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(470	)		(116	)		(354	)		434
Cash and cash equivalents at beginning of period		1,559			1,205			1,559			1,125
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	1,089		$	1,089		$	1,205		$	1,559

Owens Corning and Subsidiaries

Business Segment Information

(Unaudited)

(Dollars in millions)

	Combined Twelve Months Ended December 31, 2006			Successor			Predecessor
				Two Months Ended December 31, 2006			Ten Months Ended October 31, 2006			Twelve Months Ended December 31, 2005
NET SALES
Insulating Systems	$	2,097		$	331		$	1,766		$	1,976
Roofing and Asphalt		1,723			167			1,556			1,806
Other Building Materials and Services		1,260			178			1,082			1,234
Composite Solutions		1,560			245			1,315			1,495
Total reportable segments		6,640			921			5,719			6,511
Corporate Eliminations		(179	)		(12	)		(167	)		(188	)
Consolidated	$	6,461		$	909		$	5,552		$	6,323
INCOME BEFORE INCOME TAX EXPENSE
Insulating Systems	$	467		$	59		$	408		$	424
Roofing and Asphalt		72			(23	)		95			139
Other Building Materials and Services		13			(4	)		17			17
Composite Solutions		159			34			125			139
Total reportable segments	$	711		$	66		$	645		$	719
RECONCILIATION TO INCOME (LOSS) BEFORE INCOME TAX EXPENSE
Chapter 11 related reorganization items	$	(55	)	$	(10	)	$	(45	)	$	(45	)
Credit (provisions) for asbestos litigation claims		13			—			13			(4,267	)
Restructure costs and other (charges) credits		(68	)		(50	)		(18	)		18
Employee emergence equity program		(6	)		(6	)		—			—
Impact of fresh-start accounting		(65	)		(65	)		—			—
General corporate income (expense)		(97	)		5			(102	)		(168	)
Interest expense, net		(270	)		(29	)		(241	)		(739	)
Gain on settlement of liabilities subject to compromise		5,864			—			5,864			—
Fresh-start accounting adjustments		3,049			—			3,049			—
RECONCILIATION TO INCOME (LOSS) BEFORE INCOME TAX EXPENSE	$	9,076		$	(89	)	$	9,165		$	(4,482	)

Owens Corning and Subsidiaries

Business Segment Information

(Unaudited)

(Dollars in millions)

	Combined Three Months Ended December 31, 2006			Successor			Predecessor
				Two Months Ended December 31, 2006			One Month Ended October 31, 2006			Three Months Ended December 31, 2005
NET SALES
Insulating Systems	$	527		$	331		$	196		$	563
Roofing and Asphalt		304			167			137			492
Other Building Materials and Services		288			178			110			325
Composite Solutions		383			245			138			373
Total reportable segments		1,502			921			581			1,753
Corporate Eliminations		(25	)		(12	)		(13	)		(40	)
Consolidated	$	1,477		$	909		$	568		$	1,713
INCOME BEFORE INCOME TAX EXPENSE
Insulating Systems	$	107		$	59		$	48		$	128
Roofing and Asphalt		(25	)		(23	)		(2	)		34
Other Building Materials and Services		—			(4	)		4			5
Composite Solutions		49			34			15			45
Total reportable segments	$	131		$	66		$	65		$	212
RECONCILIATION TO INCOME (LOSS) BEFORE INCOME TAX EXPENSE
Chapter 11 related reorganization items	$	(27	)	$	(10	)	$	(17	)	$	(5	)
Credit (provisions) for asbestos litigation claims		—			—			—			74
Restructure costs and other (charges) credits		(54	)		(50	)		(4	)		5
Employee emergence equity program		(6	)		(6	)		—			—
Impact of fresh-start accounting		(65	)		(65	)		—			—
General corporate expense		12			5			7			(56	)
Interest expense, net		(48	)		(29	)		(19	)		(199	)
Gain on settlement of liabilities subject to compromise		5,864			—			5,864			—
Fresh-start accounting adjustments		3,049			—			3,049			—
RECONCILIATION TO INCOME (LOSS) BEFORE INCOME TAX EXPENSE	$	8,856		$	(89	)	$	8,945		$	31