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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
As a result of our acquisition of Masonite International Corporation, which was completed on May 15, 2024, the Company now has four reportable segments: Roofing, Insulation, Doors, and Composites. Accounting policies for the segments are the same as those for the Company. The Company’s four reportable segments are defined as follows:
Roofing – Within our Roofing segment, the Company manufactures and sells residential roofing shingles, oxidized asphalt materials, and roofing components primarily used in residential and commercial construction.
Insulation – Within our Insulation segment, the Company manufactures and sells thermal and acoustical batts, loose fill insulation, spray foam insulation, foam sheathing and accessories. It also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated stone wool insulation, cellular glass insulation, and foam insulation used in above- and below-grade construction applications.
Doors – Within our new Doors segment, the Company manufactures and sells interior and exterior doors and door systems primarily used in residential construction.
Composites – Within our Composites segment, the Company manufactures, fabricates and sells glass reinforcements in the form of fiber. Glass reinforcement materials are also used by the Composites segment to manufacture and sell high value applications in the form of non-wovens, fabrics and composite lumber.
NET SALES
The following tables show a disaggregation of our Net sales by segment and geographic region (in millions). Corporate eliminations (shown below) largely reflect intercompany sales from Composites to Roofing. External customer sales are attributed to geographic region based upon the location from which the product is sold to the external customer.
For the three months ended September 30, 2024
Reportable SegmentsRoofingInsulationDoorsCompositesEliminationsConsolidated
Disaggregation Categories
U.S. residential$1,019 $416 $445 $122 $(82)$1,920 
U.S. commercial and industrial43 195 — 181 (2)417 
Total United States1,062 611 445 303 (84)2,337 
Europe— 183 57 107 (1)346 
Asia-Pacific— 34 — 94 — 128 
Rest of world16 118 71 30 — 235 
NET SALES$1,078 $946 $573 $534 $(85)$3,046 
For the three months ended September 30, 2023
Reportable SegmentsRoofingInsulationDoorsCompositesEliminationsConsolidated
Disaggregation Categories
U.S. residential$1,009 $351 $— $98 $(82)$1,376 
U.S. commercial and industrial49 218 — 201 (2)466 
Total United States1,058 569 — 299 (84)1,842 
Europe5 191 — 115 (1)310 
Asia-Pacific— 37 — 111 — 148 
Rest of world21 116 — 42 — 179 
NET SALES$1,084 $913 $— $567 $(85)$2,479 
For the nine months ended September 30, 2024
Reportable SegmentsRoofingInsulationDoorsCompositesEliminationsConsolidated
Disaggregation Categories
U.S. residential$2,991 $1,177 $689 $360 $(249)$4,968 
U.S. commercial and industrial100 606 — 536 (7)1,235 
Total United States3,091 1,783 689 896 (256)6,203 
Europe— 543 87 347 (2)975 
Asia-Pacific— 98 1 265 — 364 
Rest of world49 342 107 95 — 593 
NET SALES$3,140 $2,766 $884 $1,603 $(258)$8,135 
For the nine months ended September 30, 2023
Reportable SegmentsRoofingInsulationDoorsCompositesEliminationsConsolidated
Disaggregation Categories
U.S. residential$2,902 $1,045 $— $270 $(230)$3,987 
U.S. commercial and industrial113 647 — 656 (6)1,410 
Total United States3,015 1,692 — 926 (236)5,397 
Europe13 586 — 387 (2)984 
Asia-Pacific1 109 — 334 — 444 
Rest of world73 350 — 125 — 548 
NET SALES$3,102 $2,737 $— $1,772 $(238)$7,373 
Sales to major customers - The Company had two customers that exceeded 10% of consolidated net sales for the nine months ended September 30, 2024. The first customer, which is a customer of both the Roofing and Insulation segments, accounted for approximately 12% of the Company's consolidated net sales for the nine months ended September 30, 2024 and September 30, 2023. The second customer, which is a customer of the Roofing, Insulation and Doors segments, accounted for approximately 12% of the Company's consolidated net sales for the nine months ended September 30, 2024. This customer's sales did not exceed 10% during the nine months ended September 30, 2023.
EARNINGS BEFORE INTEREST AND TAXES
Earnings before interest and taxes (“EBIT”) by segment consist 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 within Corporate, Other and Eliminations.
The following table summarizes EBIT by segment (in millions):
  
Three Months Ended
September 30,		Nine Months Ended
September 30,
  
2024202320242023
Reportable Segments
Roofing$359 $343 $1,018 $890 
Insulation183 150 527 469 
Doors36 — 70 — 
Composites61 80 168 216 
Total reportable segments639 573 1,783 1,575 
Restructuring costs(1)(41)(62)(106)
Gain on sale of Santa Clara, California site— — — 189 
Gains on sale of certain precious metals19 — 19 2 
Paroc marine recall(1)(14)(8)(14)
Strategic review-related charges(16)— (33)— 
Acquisition-related transaction costs(2)— (49)— 
Acquisition-related integration costs(53)— (74)— 
Impairment of venture investment(13)— (13)— 
Recognition of acquisition inventory fair value step-up(6)— (18)— 
General corporate expense and other(57)(55)(175)(162)
Total corporate, other and eliminations(130)(110)(413)(91)
EBIT$509 $463 $1,370 $1,484