CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2016

Sep. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Related Increases (Decreases) from Previous Revisions to Condensed Consolidating Balance Sheet

The related increases (decreases) from the revisions are shown in the table below (in millions):

Description	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Due from affiliates - current	$	—		$	(474	)	$	—		$	474	$	—
Investment in subsidiaries	(484		)	(569		)	(559		)	1,612		—
TOTAL ASSETS	$	(484	)	$	(1,043	)	$	(559	)	$	2,086	$	—
Due to affiliates - current	$	(484	)	$	—		$	10		$	474	$	—
Total equity	—			(1,043		)	(569		)	1,612		—
TOTAL LIABILITIES AND EQUITY	$	(484	)	$	(1,043	)	$	(559	)	$	2,086	$	—

The related increases (decreases) from the revisions are shown in the table below (in millions):

Description	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Due from affiliates - current	$	—	$	(287	)	$	—		$	287	$	—
Investment in subsidiaries	—		(452		)	—			452		—
Due from affiliates	—		—			(739		)	739		—
TOTAL ASSETS	$	—	$	(739	)	$	(739	)	$	1,478	$	—
Due to affiliates - current	$	—	$	—		$	(287	)	$	287	$	—
Due to affiliates	—		(739		)	—			739		—
Total equity	—		—			(452		)	452		—
TOTAL LIABILITIES AND EQUITY	$	—	$	(739	)	$	(739	)	$	1,478	$	—

Condensed Consolidating Statement of Earnings

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
NET SALES	$	—		$	1,106		$	545	$	(133	)	$	1,518
COST OF SALES	—			856			421		(133		)	1,144
Gross margin	—			250			124		—			374
OPERATING EXPENSES
Marketing and administrative expenses	35			76			30		—			141
Science and technology expenses	—			17			3		—			20
Other expenses (income), net	(5		)	(6		)	17		—			6
Total operating expenses	30			87			50		—			167
EARNINGS BEFORE INTEREST AND TAXES	(30		)	163			74		—			207
Interest expense, net	28			—			—		—			28
Loss (gain) on extinguishment of debt	1			—			—		—			1
EARNINGS BEFORE TAXES	(59		)	163			74		—			178
Income tax expense	(35		)	93			7		—			65
Equity in net earnings of subsidiaries	136			66			—		(202		)	—
Equity in net earnings of affiliates	—			—			—		—			—
NET EARNINGS	112			136			67		(202		)	113
Net earnings attributable to noncontrolling interests	—			—			1		—			1
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	112		$	136		$	66	$	(202	)	$	112

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF EARNINGS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015

(in millions)

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
NET SALES	$	—		$	1,050	$	494	$	(97	)	$	1,447
COST OF SALES	(1		)	829		376		(97		)	1,107
Gross margin	1			221		118		—			340
OPERATING EXPENSES
Marketing and administrative expenses	30			71		29		—			130
Science and technology expenses	—			15		3		—			18
Other expenses (income), net	(24		)	6		14		—			(4		)
Total operating expenses	6			92		46		—			144
EARNINGS BEFORE INTEREST AND TAXES	(5		)	129		72		—			196
Interest expense, net	25			—		3		—			28
Loss (gain) on extinguishment of debt	—			—		—		—			—
EARNINGS BEFORE TAXES	(30		)	129		69		—			168
Income tax expense	(10		)	51		14		—			55
Equity in net earnings of subsidiaries	132			54		—		(186		)	—
Equity in net earnings of affiliates	—			—		—		—			—
NET EARNINGS	112			132		55		(186		)	113
Net earnings attributable to noncontrolling interests	—			—		1		—			1
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	112		$	132	$	54	$	(186	)	$	112

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	—		$	3,123		$	1,539		$	(368	)	$	4,294
COST OF SALES	2			2,439			1,159			(368		)	3,232
Gross margin	(2		)	684			380			—			1,062
OPERATING EXPENSES
Marketing and administrative expenses	103			233			90			—			426
Science and technology expenses	—			50			10			—			60
Other expenses (income), net	(8		)	31			(10		)	—			13
Total operating expenses	95			314			90			—			499
EARNINGS BEFORE INTEREST AND TAXES	(97		)	370			290			—			563
Interest expense, net	74			(1		)	7			—			80
Loss (gain) on extinguishment of debt	1			—			—			—			1
EARNINGS BEFORE TAXES	(172		)	371			283			—			482
Income tax expense	(85		)	188			69			—			172
Equity in net earnings of subsidiaries	394			211			—			(605		)	—
Equity in net earnings of affiliates	—			—			1			—			1
NET EARNINGS	307			394			215			(605		)	311
Net earnings attributable to noncontrolling interests	—			—			4			—			4
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	307		$	394		$	211		$	(605	)	$	307

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF EARNINGS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015

(in millions)

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
NET SALES	$	—		$	2,909	$	1,430	$	(286	)	$	4,053
COST OF SALES	—			2,366		1,116		(286		)	3,196
Gross margin	—			543		314		—			857
OPERATING EXPENSES
Marketing and administrative expenses	92			212		85		—			389
Science and technology expenses	—			44		9		—			53
Other expenses (income), net	(41		)	24		22		—			5
Total operating expenses	51			280		116		—			447
EARNINGS BEFORE INTEREST AND TAXES	(51		)	263		198		—			410
Interest expense, net	73			2		5		—			80
Loss (gain) on extinguishment of debt	(5		)	—		—		—			(5		)
EARNINGS BEFORE TAXES	(119		)	261		193		—			335
Income tax expense	(39		)	97		54		—			112
Equity in net earnings of subsidiaries	301			137		—		(438		)	—
Equity in net earnings of affiliates	—			—		1		—			1
NET EARNINGS	221			301		140		(438		)	224
Net earnings attributable to noncontrolling interests	—			—		3		—			3
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	221		$	301	$	137	$	(438	)	$	221

Condensed Consolidating Statement Of Comprehensive Earnings [Table Text Block]

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015

(in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET EARNINGS	$	221		$	301		$	140		$	(438	)	$	224
Currency translation adjustment (net of tax)	(81		)	(1		)	(86		)	87			(81		)
Pension and other postretirement adjustment (net of tax)	12			(3		)	8			(5		)	12
Deferred gain on hedging (net of tax)	2			4			—			(4		)	2
COMPREHENSIVE EARNINGS	154			301			62			(360		)	157
Comprehensive earnings attributable to noncontrolling interests	—			—			3			—			3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	154		$	301		$	59		$	(360	)	$	154

WENS CORNING AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016

(in millions)

	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
NET EARNINGS	$	307	$	394		$	215	$	(605	)	$	311
Currency translation adjustment (net of tax)	19		(3		)	28		(25		)	19
Pension and other postretirement adjustment (net of tax)	14		22			4		(26		)	14
Deferred gain on hedging (net of tax)	5		1			1		(2		)	5
COMPREHENSIVE EARNINGS	345		414			248		(658		)	349
Comprehensive earnings attributable to noncontrolling interests	—		—			4		—			4
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	345	$	414		$	244	$	(658	)	$	345

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016

(in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
NET EARNINGS	$	112		$	136		$	67	$	(202	)	$	113
Currency translation adjustment (net of tax)	(2		)	—			2		(2		)	(2		)
Pension and other postretirement adjustment (net of tax)	4			(1		)	3		(2		)	4
Deferred gain on hedging (net of tax)	1			—			—		—			1
COMPREHENSIVE EARNINGS	115			135			72		(206		)	116
Comprehensive earnings attributable to noncontrolling interests	—			—			1		—			1
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	115		$	135		$	71	$	(206	)	$	115

OWENS CORNING AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015

(in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET EARNINGS	$	112		$	132		$	55		$	(186	)	$	113
Currency translation adjustment (net of tax)	(38		)	(1		)	(40		)	41			(38		)
Pension and other postretirement adjustment (net of tax)	6			(1		)	6			(5		)	6
Deferred gain on hedging (net of tax)	(1		)	—			(1		)	1			(1		)
COMPREHENSIVE EARNINGS	79			130			20			(149		)	80
Comprehensive earnings attributable to noncontrolling interests	—			—			1			—			1
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$	79		$	130		$	19		$	(149	)	$	79

Condensed Consolidating Balance Sheet

OWENS CORNING AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF SEPTEMBER 30, 2016

(in millions)

ASSETS	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
CURRENT ASSETS
Cash and cash equivalents	$	35		$	2	$	73	$	—		$	110
Receivables, less allowances	—			—		796		—			796
Due from affiliates	—			2,530		—		(2,530		)	—
Inventories	—			425		304		—			729
Assets held for sale	—			3		10		—			13
Other current assets	11			21		22		—			54
Total current assets	46			2,981		1,205		(2,530		)	1,702
Investment in subsidiaries	7,666			1,744		—		(9,410		)	—
Due from affiliates	—			—		—		—			—
Property, plant and equipment, net	467			1,533		1,090		—			3,090
Goodwill	—			1,159		179		—			1,338
Intangible assets, net	—			1,043		223		(120		)	1,146
Deferred income taxes	(23		)	341		51		—			369
Other non-current assets	13			68		150		—			231
TOTAL ASSETS	$	8,169		$	8,869	$	2,898	$	(12,060	)	$	7,876
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	83		$	776	$	140	$	—		$	999
Due to affiliates	1,849			—		681		(2,530		)	—
Short-term debt	—			—		1		—			1
Long-term debt – current portion	—			2		1		—			3
Total current liabilities	1,932			778		823		(2,530		)	1,003
Long-term debt, net of current portion	2,069			12		79		—			2,160
Due to affiliates	—			—		—		—			—
Pension plan liability	230			—		91		—			321
Other employee benefits liability	—			223		14		—			237
Deferred income taxes	—			—		36		—			36
Other liabilities	45			190		67		(120		)	182
Redeemable equity	—			—		2		—			2
OWENS CORNING STOCKHOLDERS’ EQUITY
Total Owens Corning stockholders’ equity	3,893			7,666		1,744		(9,410		)	3,893
Noncontrolling interests	—			—		42		—			42
Total equity	3,893			7,666		1,786		(9,410		)	3,935
TOTAL LIABILITIES AND EQUITY	$	8,169		$	8,869	$	2,898	$	(12,060	)	$	7,876

OWENS CORNING AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2015

(in millions)

ASSETS	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
CURRENT ASSETS
Cash and cash equivalents	$	—	$	48	$	48	$	—		$	96
Receivables, less allowances	—		—		709		—			709
Due from affiliates	—		2,382		—		(2,382		)	—
Inventories	—		392		252		—			644
Assets held for sale	—		—		12		—			12
Other current assets	11		21		15		—			47
Total current assets	11		2,843		1,036		(2,382		)	1,508
Investment in subsidiaries	7,220		1,423		—		(8,643		)	—
Due from affiliates	—		—		—		—			—
Property, plant and equipment, net	463		1,451		1,042		—			2,956
Goodwill	—		1,149		18		—			1,167
Intangible assets, net	—		986		144		(131		)	999
Deferred income taxes	—		430		62		—			492
Other non-current assets	25		61		136		—			222
TOTAL ASSETS	$	7,719	$	8,343	$	2,438	$	(11,156	)	$	7,344
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	56	$	703	$	153	$	—		$	912
Due to affiliates	1,760		—		622		(2,382		)	—
Short-term debt	—		—		6		—			6
Long-term debt – current portion	160		2		1		—			163
Total current liabilities	1,976		705		782		(2,382		)	1,081
Long-term debt, net of current portion	1,668		14		20		—			1,702
Due to affiliates	—		—		—		—			—
Pension plan liability	286		—		111		—			397
Other employee benefits liability	—		227		13		—			240
Deferred income taxes	—		—		8		—			8
Other liabilities	50		177		41		(131		)	137
Redeemable equity	—		—		—		—			—
OWENS CORNING STOCKHOLDERS’ EQUITY
Total Owens Corning stockholders’ equity	3,739		7,220		1,423		(8,643		)	3,739
Noncontrolling interests	—		—		40		—			40
Total equity	3,739		7,220		1,463		(8,643		)	3,779
TOTAL LIABILITIES AND EQUITY	$	7,719	$	8,343	$	2,438	$	(11,156	)	$	7,344

Condensed Consolidating Statement of Cash Flows

OWENS CORNING AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS ENDEDSEPTEMBER 30, 2016

(in millions)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	$	(67	)	$	621		$	136		$	(11	)	$	679
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(11		)	(216		)	(54		)	—			(281		)
Proceeds from the sale of assets or affiliates	—			—			—			—			—
Investment in subsidiaries and affiliates, net of cash acquired	—			—			(450		)	—			(450		)
Purchases of alloy	—			—			—			—			—
Proceeds from sale of alloy	—			—			—			—			—
Other	2			—			—			—			2
Net cash flow used for investing activities	(9		)	(216		)	(504		)	—			(729		)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from long-term debt	395			—			—			—			395
Proceeds from senior revolving credit and receivables securitization facilities	—			—			574			—			574
Proceeds from term loan borrowing	300			—			—			—			300
Payments on term loan borrowing	(300		)	—			—			—			(300		)
Payments on senior revolving credit and receivables securitization facilities	—			—			(514		)	—			(514		)
Payments on long-term debt	(160		)	—			—			—			(160		)
Net decrease in short-term debt	—			—			(5		)	—			(5		)
Cash dividends paid	(61		)	—			—			—			(61		)
Purchases of treasury stock	(176		)	—			—			—			(176		)
Intercompany dividends paid	—			—			(11		)	11			—
Other intercompany loans	103			(451		)	348			—			—
Other	10			—			—			—			10
Net cash flow provided by (used for) financing activities	111			(451		)	392			11			63
Effect of exchange rate changes on cash	—			—			1			—			1
Net increase (decrease) in cash and cash equivalents	35			(46		)	25			—			14
Cash and cash equivalents at beginning of period	—			48			48			—			96
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	35		$	2		$	73		$	—		$	110

OWENS CORNING AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS ENDEDSEPTEMBER 30, 2015

(in millions)

	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	$	(54	)	$	248		$	216		$	—	$	410
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(10		)	(203		)	(53		)	—		(266		)
Proceeds from the sale of assets or affiliates	—			—			3			—		3
Investment in subsidiaries and affiliates, net of cash acquired	—			—			—			—		—
Purchases of alloy	—			—			(8		)	—		(8		)
Proceeds from sale of alloy	—			—			8			—		8
Other	—			—			—			—		—
Net cash flow used for investing activities	(10		)	(203		)	(50		)	—		(263		)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from long-term debt	—			—			—			—		—
Proceeds from senior revolving credit and receivables securitization facilities	943			—			136			—		1,079
Proceeds from term loan borrowing	—			—			—			—		—
Payments on term loan borrowing	—			—			—			—		—
Payments on senior revolving credit and receivables securitization facilities	(942		)	—			(140		)	—		(1,082		)
Payments on long-term debt	(5		)	(1		)	(2		)	—		(8		)
Net decrease in short-term debt	—			(13		)	3			—		(10		)
Cash dividends paid	(58		)	—			—			—		(58		)
Purchase of treasury stock	(86		)	—			—			—		(86		)
Intercompany dividends paid	—			—			—			—		—
Other intercompany loans	194			(30		)	(164		)	—		—
Other	18			—			—			—		18
Net cash flow provided by (used for) financing activities	64			(44		)	(167		)	—		(147		)
Effect of exchange rate changes on cash	—			—			(5		)	—		(5		)
Net increase (decrease) in cash and cash equivalents	—			1			(6		)	—		(5		)
Cash and cash equivalents at beginning of period	—			1			66			—		67
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	2		$	60		$	—	$	62