SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2011

Segment Information Disclosure [Abstract]

SEGMENT INFORMATION

2.SEGMENT INFORMATION

The Company has two reportable segments:Composites and Building Materials. Accounting policies for the segments are the same as those for the Company.The Company's reportable segments are defined as follows:

Composites – comprised of our Reinforcements and Downstream businesses. Within the Reinforcements business, the Company manufactures, fabricates and sells glass reinforcements in the form of fiber. Within the Downstream business, the Company manufactures and sells glass fiber products in the form of fabrics, mat, veil and other specialized products.

Building Materials – comprised of our Insulation and Roofing businesses. Within the Insulation business, the Company manufactures and sells fiberglass insulation into residential, commercial, industrial and other markets for both thermal and acoustical applications. It also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media and foam insulation used in above- and below-grade construction applications. Within the Roofing business, the Company manufactures and sells residential roofing shingles and oxidized asphalt materials used in residential and commercial construction and specialty applications.

NET SALES

The following table summarizes our net sales by segment and geographic region (in millions). External customer sales are attributed to geographic region based upon the location from which the product is shipped to the external customer.

		Three Months Ended				Nine Months Ended
		Sept. 30,				Sept. 30,
		2011		2010		2011		2010
Reportable Segments
Composites		$	496	$	477	$	1,517	$	1,431
Building Materials			1,009		742		2,766		2,526
	Total reportable segments		1,505		1,219		4,283		3,957
Corporate eliminations			(55)		(33)		(144)		(128)
NET SALES		$	1,450	$	1,186	$	4,139	$	3,829
External Customer Sales by Geographic Region
United States		$	1,008	$	748	$	2,781	$	2,529
Europe			147		135		487		423
Asia Pacific			171		173		504		504
Other			124		130		367		373
NET SALES		$	1,450	$	1,186	$	4,139	$	3,829

Earnings Before Interest and Taxes

Earnings before interest and taxes (“EBIT”) by segment consists of net sales less related costs and expenses and are presented on a basis that is used internally for evaluating segment performance. Certain items, such as general corporate expenses or income and certain other expense or income items, are excluded from the internal evaluation of segment performance. Accordingly, these items are not reflected in EBIT for our reportable segments and are included in the Corporate, Other and Eliminations category.

The following table summarizes EBIT by segment (in millions):
		Three Months Ended				Nine Months Ended
		Sept. 30,				Sept. 30,
		2011		2010		2011		2010
Reportable Segments
Composites		$	49	$	43	$	152	$	116
Building Materials			144		67		277		272
	Total reportable segments	$	193	$	110	$	429	$	388
Corporate, Other and Eliminations
Charges related to cost reduction actions and related items		$	-	$	(16)	$	(17)	$	(33)
Acquisition integration, transaction, and other costs			-		(4)		-		(6)
Net precious metal lease expense			-		(1)		-		(1)
Gain on sale of Capivari, Brazil facility			-		-		16		-
General corporate expense and other			(16)		(20)		(55)		(71)
EBIT		$	177	$	69	$	373	$	277