Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Jan. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Owens Corning | ' |
Entity Central Index Key | '0001370946 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well Known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Public Float | $4,654,656,423 | ' |
Entity Common Stock Shares Outstanding | ' | 117,835,363 |
CONSOLIDATED_STATEMENTS_OF_EAR
CONSOLIDATED STATEMENTS OF EARNINGS (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CONSOLIDATED STATEMENTS OF EARNINGS | ' | ' | ' |
NET SALES | $5,295 | $5,172 | $5,335 |
COST OF SALES | 4,329 | 4,375 | 4,307 |
Gross margin | 966 | 797 | 1,028 |
OPERATING EXPENSES | ' | ' | ' |
Marketing and administrative expenses | 530 | 509 | 525 |
Science and technology expenses | 77 | 79 | 77 |
Charges related to cost reduction actions | 8 | 51 | 0 |
Employee emergence equity program expense | 0 | 0 | 0 |
Other expenses, net | -34 | 10 | -35 |
Total operating expenses | 581 | 649 | 567 |
Earnings before interest and taxes | 385 | 148 | 461 |
Interest expense, net | 112 | 114 | 108 |
EARNINGS BEFORE TAXES | 273 | -40 | 353 |
Less: Income tax expense (benefit) | 68 | -28 | 74 |
Equity in net earnings of affiliates | 0 | -4 | 2 |
NET EARNINGS | 205 | -16 | 281 |
Less: Net earnings attributable to noncontrolling interests | 1 | 3 | 5 |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | $204 | ($19) | $276 |
Earnings Per Share Abstract | ' | ' | ' |
Basic | $1.73 | ($0.16) | $2.25 |
Diluted | $1.71 | ($0.16) | $2.23 |
Weighted Average Common Shares [Abstract] | ' | ' | ' |
Basic | 118.2 | 119.4 | 122.5 |
Diluted | 119.1 | 119.4 | 123.5 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income Abstract | ' | ' | ' |
NET EARNINGS | $205 | ($16) | $281 |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 1 | 3 | 5 |
Comprehensive Income Net Of Tax | 271 | -68 | 155 |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest | $1 | $2 | ($2) |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEET (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Millions, unless otherwise specified | ||||||
CURRENT ASSETS | ' | ' | ' | ' | ||
Cash and cash equivalents | $57 | $55 | $52 | $52 | ||
Receivables, less allowances | 683 | 600 | ' | ' | ||
Inventories | 810 | 786 | ' | ' | ||
Assets held for sale - current | 29 | 0 | ' | ' | ||
Other current assets | 269 | 176 | ' | ' | ||
Total current assets | 1,848 | 1,617 | ' | ' | ||
Property, plant and equipment, net | 2,932 | 2,903 | ' | ' | ||
Goodwill balance | 1,166 | 1,143 | ' | ' | ||
Intangible assets | 1,040 | 1,045 | ' | ' | ||
Deferred income taxes | 436 | 604 | ' | ' | ||
Other non-current assets | 225 | 256 | ' | ' | ||
TOTAL ASSETS | 7,647 | 7,568 | ' | ' | ||
CURRENT LIABILITIES | ' | ' | ' | ' | ||
Accounts Payable and Accrued Liabilities, Current | 988 | 907 | ' | ' | ||
Short-term debt | 1 | 5 | ' | ' | ||
Long-term debt - current portion | 3 | 4 | ' | ' | ||
Total current liabilities | 992 | 916 | ' | ' | ||
Long-term debt, net of current portion | 2,024 | 2,076 | ' | ' | ||
Pension plan liability | 336 | 480 | ' | ' | ||
Other employee benefits liability | 242 | 274 | ' | ' | ||
Deferred income tax liability | 23 | 38 | ' | ' | ||
Other liabilities | 200 | 209 | ' | ' | ||
Commitments and Contingencies | ' | ' | ' | ' | ||
OWENS CORNING STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||
Additional paid in capital | 3,938 | 3,925 | ' | ' | ||
Accumulated earnings (deficit) | 655 | 451 | ' | ' | ||
Accumulated other comprehensive deficit | -297 | -364 | ' | ' | ||
Cost of common stock in treasury (c) | 504 | [1] | 475 | [1] | ' | ' |
Total Owens Corning stockholders' equity | 3,793 | 3,538 | ' | ' | ||
Noncontrolling interest | 37 | 37 | ' | ' | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,830 | 3,575 | 3,741 | 3,686 | ||
TOTAL LIABILITIES AND EQUITY | $7,647 | $7,568 | ' | ' | ||
[1] | 17.7 shares at Dec. 31, 2013 and 17.3 shares at Dec. 31, 2012 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Consolidated Balance Sheets Parentheticals [Abstract] | ' | ' |
Allowance for doubtful accounts | $14 | $17 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, authorized | 10 | 10 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 400 | 400 |
Common stock, issued | 135.5 | 135.6 |
Common stock, outstanding | 117.8 | 118.3 |
Treasury stock shares | 17.7 | 17.3 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $3,830,000,000 | $3,575,000,000 | $3,741,000,000 | $3,686,000,000 |
SharesOutstanding | 117,800,000 | 118,300,000 | 120,900,000 | 124,100,000 |
NET EARNINGS | 205,000,000 | -16,000,000 | 281,000,000 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -28,000,000 | 5,000,000 | -39,000,000 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 94,000,000 | -56,000,000 | -80,000,000 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 1,000,000 | 2,000,000 | -2,000,000 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | 6 | -22,000,000 | -3,000,000 | ' |
Options, Outstanding, Number, Options Exercised | -549,800 | -520,120 | -374,738 | ' |
Common Stock Member | ' | ' | ' | ' |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
NET EARNINGS | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | ' | ' |
Options, Outstanding, Number, Options Exercised | 500,000 | 500,000 | 100,000 | ' |
Treasury Stock Shares Acquired | -1,600,000 | -3,800,000 | -4,200,000 | ' |
StockIssuedDuringPeriodSharesShareBasedCompensation | 600,000 | 700,000 | 900,000 | ' |
TreasuryStockMember | ' | ' | ' | ' |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -504,000,000 | -475,000,000 | -362,000,000 | -229,000,000 |
SharesOutstanding | 17,700,000 | 17,300,000 | 13,500,000 | 9,300,000 |
NET EARNINGS | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | ' | ' |
TreasuryStockValueAcquiredCostMethod | -63,000,000 | -113,000,000 | -133,000,000 | ' |
Options, Outstanding, Number, Options Exercised | -600,000 | ' | ' | ' |
Treasury Stock Shares Acquired | 1,600,000 | 3,800,000 | 4,200,000 | ' |
StockIssuedDuringPeriodSharesShareBasedCompensation | -600,000 | ' | ' | ' |
AdditionalPaidInCapitalMember | ' | ' | ' | ' |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,938,000,000 | 3,925,000,000 | 3,907,000,000 | 3,876,000,000 |
NET EARNINGS | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | ' | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | -16,000,000 | ' | ' |
RetainedEarningsMember | ' | ' | ' | ' |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 655,000,000 | 451,000,000 | 470,000,000 | 194,000,000 |
NET EARNINGS | 204,000,000 | -19,000,000 | 276,000,000 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | ' | ' |
AccumulatedOtherComprehensiveIncomeMember | ' | ' | ' | ' |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -297,000,000 | -364,000,000 | -315,000,000 | -194,000,000 |
NET EARNINGS | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -28,000,000 | 5,000,000 | -39,000,000 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 94,000,000 | -56,000,000 | -80,000,000 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 1,000,000 | 2,000,000 | -2,000,000 | ' |
NoncontrollingInterestMember | ' | ' | ' | ' |
IncreaseDecreaseInStockholdersEquityRollForward | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 37,000,000 | 37,000,000 | 40,000,000 | 38,000,000 |
NET EARNINGS | 1,000,000 | 3,000,000 | 5,000,000 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -1,000,000 | 0 | 0 | ' |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | 0 | ' |
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecreaseSOE | 0 | 0 | ' | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | ($6,000,000) | ($3,000,000) | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES | ' | ' | ' |
NET EARNINGS | $205 | ($16) | $281 |
Adjustments to reconcile net earnings to cash provided by (used for) operating activities: | ' | ' | ' |
Depreciation and amortization | 332 | 349 | 318 |
Gain on sale of business and fixed assets | -6 | -17 | -30 |
Deferred income taxes | 54 | -59 | 55 |
Provision for pension and other employee benefits liabilities | 23 | 36 | 36 |
Share Based Compensation | 28 | 24 | 21 |
Other non-cash | -18 | -14 | -22 |
Change in working capital | ' | ' | ' |
Change in receivables | -77 | 24 | -48 |
Change in Inventories | -27 | -4 | -179 |
Change in accounts payable and accrued liabilities | 46 | 23 | -41 |
Change in other current assets | 4 | -39 | -35 |
IncreaseDecreaseInOtherWorkingCapital | 0 | 2 | 41 |
Pension fund contribution | -39 | -50 | -117 |
Payments for other employee benefits liabilities | -22 | -22 | -24 |
Other | -27 | 39 | 33 |
Net cash flow provided by (used for) operating activities | 418 | 330 | 289 |
PaymentsOfDebtExtinguishmentCosts | 0 | 74 | 0 |
NET CASH FLOW USED FOR INVESTING ACTIVITIES | ' | ' | ' |
Additions to plant and equipment | -353 | -332 | -442 |
Payments to Acquire Businesses, Net of Cash Acquired | -62 | 0 | -84 |
Net cash flow used for investing activities | -307 | -253 | -445 |
Proceeds from Hurricane Sandy Insurance Claims | 58 | 20 | 0 |
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from senior revolving credit and receivables securitization facilities | 1,063 | 1,877 | 1,912 |
Payments on senior revolving credit and receivables securitization facilities | -1,103 | -1,957 | -1,630 |
Proceeds from long-term debt | 0 | 599 | 6 |
Payments on long-term debt | -2 | -441 | -10 |
Net decrease in short-term debt | -4 | -23 | 26 |
Purchase of noncontrolling interest | 0 | -22 | 0 |
Purchase of treasury stock | -63 | -113 | -138 |
Other Financing | 2 | 4 | 8 |
Net cash flow provided by (used for) financing activities | -107 | -76 | 174 |
Effect of exchange rate changes on cash | -2 | 2 | -18 |
Net decrease in cash and cash equivalents | 2 | 3 | 0 |
Cash and cash equivalents at beginning of period | 55 | 52 | 52 |
Cash and cash equivalents at end of period | 57 | 55 | 52 |
Income Taxes Paid | 29 | 30 | 24 |
Interest Paid | $126 | $122 | $111 |
GENERAL
GENERAL | 12 Months Ended |
Dec. 31, 2013 | |
General Disclosure [Abstract] | ' |
Accounting Changes and Error Corrections [Text Block] | ' |
1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Description of Business | |
Owens Corning, a Delaware corporation, is a leading global producer of glass fiber reinforcements and other materials for composite systems and of residential and commercial building materials. The Company operates within two segments: Composites, which includes the Company's Reinforcements and Downstream businesses; and Building Materials, which includes the Company's Insulation and Roofing businesses. Through these lines of business, Owens Corning manufactures and sells products worldwide. The Company maintains leading market positions in all of its major product categories. | |
Basis of Presentation | |
Unless the context requires otherwise, the terms “Owens Corning,” “Company,” “we” and “our” in this report refer to Owens Corning and its subsidiaries. | |
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States. | |
Principles of Consolidation | |
The Consolidated Financial Statements of the Company include the accounts of majority-owned subsidiaries. Intercompany accounts and transactions are eliminated. | |
Reclassifications | |
Certain reclassifications have been made to the 2012 and 2011 Consolidated Financial Statements and Notes to the Consolidated Financial Statements to conform to the classifications used in 2013. | |
Use of Estimates and Assumptions | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. | |
Revenue Recognition | |
Revenue is recognized when title and risk of loss pass to the customer and collectability is reasonably assured. Provisions for discounts and rebates to customers, returns, warranties and other adjustments are provided in the same period that the related sales are recorded and are based on historical experience, current conditions and contractual obligations, as applicable. | |
Cost of Sales | |
Cost of sales includes material, labor, energy and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company's products. Distribution costs include inbound freight costs; purchasing and receiving costs; inspection costs; warehousing costs; shipping and handling costs, which include costs incurred relating to preparing, packaging, and shipping products to customers; and other costs of the Company's distribution network. All shipping and handling costs billed to the customer are included as net sales in the Consolidated Statements of Earnings (Loss). | |
Marketing and Administrative Expenses | |
Marketing and administrative expenses include selling and administrative costs, including depreciation and amortization expense, not directly associated with the manufacture and distribution of the Company's products. | |
Included in marketing and administrative expenses are marketing and advertising costs, which are expensed the first time the advertisement takes place. Marketing and advertising costs include advertising, and marketing communications. Marketing and advertising expenses for the years ended December 31, 2013, 2012, and 2011 were $105 million, $109 million and $105 million, respectively. | |
Science and Technology Expenses | |
The Company incurs certain expenses related to science and technology. These expenses include salaries, building and equipment costs, utilities, administrative expenses, materials and supplies associated with the improvement and development of the Company's products and manufacturing processes. These costs are expensed as incurred. | |
Earnings (Loss) per Share | |
Basic earnings (loss) per share are computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share reflect the dilutive effect of common equivalent shares and increased shares that would result from the conversion of equity securities. The effects of anti-dilution are not presented. | |
Cash and Cash Equivalents | |
The Company defines cash and cash equivalents as cash and time deposits with original maturities of three months or less when purchased. | |
Accounts Receivable | |
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is an estimate of the amount of probable credit losses in our existing accounts receivable. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered. | |
Inventory Valuation | |
Inventory costs include material, labor, and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company's products. Inventories are stated at lower of cost or market value and expense estimates are made for excess and obsolete inventories. Cost is determined by the first-in, first-out (“FIFO”) method. | |
Investments in Affiliates | |
The Company accounts for investments in affiliates of 20% to 50% ownership when the Company does not have a controlling financial interest using the equity method under which the Company's share of earnings and losses of the affiliate is reflected in earnings and dividends are credited against the investment in affiliate when declared. Investments in affiliates are recorded in other non-current assets on the Consolidated Balance Sheets and as of December 31, 2013 and 2012 the total value of investments was $51 million. | |
Goodwill and Other Intangible Assets | |
Goodwill assets are not amortized but are tested for impairment on at least an annual basis. In the current year, as part of the annual assessment, the Company used a quantitative approach to determine whether the fair value of a reporting unit was less than its carrying amount. | |
As part of our testing process for goodwill we estimated fair values using a discounted cash flow approach from the perspective of a market participant. Significant estimates in the discounted cash flow approach are cash flow forecasts of our reporting units, the discount rate, the terminal business value and the projected income tax rate. The cash flow forecasts of the reporting units are based upon management's long-term view of our markets and are the forecasts that are used by senior management and the Board of Directors to evaluate operating performance. The discount rate utilized is management's estimate of what the market's weighted average cost of capital is for a company with a similar debt rating and stock volatility, as measured by beta. The projected income tax rates utilized are the statutory tax rates for the countries where each reporting unit operates. The terminal business value is determined by applying a business growth factor to the latest year for which a forecast exists. As part of our goodwill quantitative testing process, we would evaluate whether there are reasonably likely changes to management's estimates that would have a material impact on the results of the goodwill impairment testing. | |
Other indefinite-lived intangible assets are not amortized but are tested for impairment on at least an annual basis or when determined to have a finite useful life. Substantially all of the indefinite-lived intangible assets are in trademarks and trade names. The Company uses the royalty relief approach to determine whether it is more likely than not that the fair value of these assets is less than its carrying amount. This review is performed annually, or when circumstances arise which indicate there may be impairment. When applying the royalty relief approach, the Company performs a discounted cash flow analysis based on the value derived from owning these trademarks and trade names and being relieved from paying royalty to third parties. Significant assumptions used include projected cash flows, discount rate, projected income tax rate and terminal business value. These inputs are considered Level 3 inputs under the fair value hierarchy as they are the Company's own data, and are unobservable in the marketplace. | |
Identifiable intangible assets with a determinable useful life are amortized over that determinable life. Amortization expense for the years ended December 31, 2013, 2012 and 2011 was $22 million, $21 million and $22 million, respectively. See Note 5 to the Consolidated Financial Statements for further discussion. | |
Properties and Depreciation | |
Property, plant and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method. Property, plant and equipment accounts are relieved of the cost and related accumulated depreciation when assets are disposed of or otherwise retired. | |
Precious metals used in our production tooling are included in property, plant and equipment and are depleted as they are consumed during the production process. Depletion typically represents an annual expense of less than 3 percent of the outstanding value and is recorded in cost of sales on the Consolidated Statements of Earnings (Loss). | |
For the years ended December 31, 2013, 2012 and 2011 depreciation expense was $310 million, $328 million and $296 million, respectively. In 2013, depreciation expense included $20 million of accelerated depreciation related to the change in useful life of assets recorded as a result of our assessment of the future utility of an incomplete Insulation facility located in Cordele, Georgia. In 2013 and 2012, depreciation expense also included $9 million and $55 million of accelerated depreciation related to cost reduction actions further explained in Note 15 to the Consolidated Financial Statements. | |
The range of useful lives for the major components of the Company's plant and equipment is as follows: | |
Buildings and leasehold improvements 15 – 40 years | |
Machinery and equipment | |
Furnaces 4 – 15 years | |
Information systems 5 – 10 years | |
Equipment 5 – 20 years | |
Expenditures for normal maintenance and repairs are expensed as incurred. | |
Asset Impairments | |
The Company evaluates tangible and intangible long-lived assets for impairment when triggering events have occurred. This requires significant assumptions including projected cash flows, projected income tax rate and terminal business value. These inputs are considered Level 3 inputs under the fair value hierarchy as they are the Company's own data, and are unobservable in the marketplace. Changes in management intentions, market conditions or operating performance could indicate that impairment charges might be necessary that would be material to the Company's Consolidated Financial Statements in any given period. | |
Income Taxes | |
The Company recognizes current tax liabilities and assets for the estimated taxes payable or refundable on the tax returns for the current year. Deferred tax balances reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis. Amounts are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. In addition, realization of certain deferred tax assets is dependent upon our ability to generate future taxable income. The Company records a valuation allowance to reduce its deferred tax assets to the amount that it believes is more likely than not to be realized. In addition, the Company estimates tax reserves to cover potential taxing authority claims for income taxes and interest attributable to audits of open tax years. | |
Taxes Collected from Customers and Remitted to Government Authorities and Taxes Paid to Vendors | |
Taxes are assessed by various governmental authorities at different rates on many different types of transactions. The Company charges sales tax or Value Added Tax (“VAT”) on sales to customers where applicable, as well as captures and claims back all available VAT that has been paid on purchases. VAT is recorded in separate payable or receivable accounts and does not affect revenue or cost of sales line items in the income statement. VAT receivable is recorded as a percentage of qualifying purchases at the time the vendor invoice is processed. VAT payable is recorded as a percentage of qualifying sales at the time an Owens Corning sale to a customer subject to VAT occurs. Amounts are paid to the taxing authority according to the method and collection prescribed by local regulations. Where applicable, VAT payable is netted against VAT receivable. The Company also pays sales tax to vendors who include a tax, required by government regulations, to the purchase price charged to the Company. | |
Pension and Other Postretirement Benefits | |
Accounting for pensions and other postretirement benefits involves estimating the cost of benefits to be provided well into the future and attributing that cost over the time period each employee works. To accomplish this, extensive use is made of assumptions about investment returns, discount rates, inflation, mortality, turnover and medical costs. | |
Derivative Financial Instruments | |
The Company recognizes all derivative instruments as either assets or liabilities at fair value on the balance sheet. To the extent that a derivative is effective as a cash flow hedge, the change in fair value of the derivative is deferred in accumulated other comprehensive income/deficit (“OCI”). Any portion considered to be ineffective is reported in earnings immediately. To the extent that a derivative is effective as a fair value hedge, the change in the fair value of the derivative is offset by the change in the fair value of the item being hedged in the Consolidated Statements of Earnings (Loss). See Note 4 to the Consolidated Financial Statements for further discussion. | |
Foreign Currency | |
The functional currency of the Company's subsidiaries is generally the applicable local currency. Assets and liabilities of foreign subsidiaries are translated into United States dollars at the period-end rate of exchange, and their Statements of Earnings (Loss) and Statements of Cash Flows are converted on an ongoing basis at the monthly average rate. The resulting translation adjustment is included in accumulated OCI in the Consolidated Balance Sheets and Consolidated Statements of Stockholders' Equity. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the Consolidated Statements of Earnings (Loss) as incurred. The Company recorded a foreign currency transaction loss of $3 million, a loss of $3 million and a gain of $5 million during the years ended December 31, 2013, 2012, and 2011, respectively. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
OWENS CORNING AND SUBSIDIARIES | |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||
SEGMENT INFORMATION | ' | ||||||||||||||
2. SEGMENT INFORMATION | |||||||||||||||
In the first quarter of 2009, the Company's Chief Operating Decision Maker (“CODM”) fully implemented the structure of assessing performance and allocating resources based on two operating segments, Composites and Building Materials. Beginning in the second half of 2008, certain organizational structure and other changes were made by the CODM to facilitate managing the business from two operating segments. These changes, which became fully functional in the first quarter 2009, included the hiring of a Building Materials Group President, restructuring the Company's incentive compensation plan for 2009, and changing the reporting structure of the CODM's leadership team. | |||||||||||||||
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 two 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, bonded and granulated mineral wool insulation 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. | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 1,845 | $ | 1,859 | $ | 1,976 | |||||||||
Building Materials | 3,609 | 3,482 | 3,537 | ||||||||||||
Total reportable segments | 5,454 | 5,341 | 5,513 | ||||||||||||
Corporate eliminations | -159 | -169 | -178 | ||||||||||||
NET SALES | $ | 5,295 | $ | 5,172 | $ | 5,335 | |||||||||
External Customer Sales by Geographic Region | |||||||||||||||
United States | $ | 3,644 | $ | 3,504 | $ | 3,552 | |||||||||
Europe | 545 | 558 | 619 | ||||||||||||
Asia Pacific | 627 | 639 | 674 | ||||||||||||
Canada and other | 479 | 471 | 490 | ||||||||||||
NET SALES | $ | 5,295 | $ | 5,172 | $ | 5,335 | |||||||||
Sales by Product Group | |||||||||||||||
Composites | $ | 1,845 | $ | 1,859 | $ | 1,976 | |||||||||
Insulation | 1,642 | 1,468 | 1,368 | ||||||||||||
Roofing | 1,967 | 2,014 | 2,169 | ||||||||||||
Corporate Eliminations | -159 | -169 | -178 | ||||||||||||
NET SALES | $ | 5,295 | $ | 5,172 | $ | 5,335 | |||||||||
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): | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 98 | $ | 91 | $ | 201 | |||||||||
Building Materials | 426 | 293 | 332 | ||||||||||||
Total reportable segments | $ | 524 | $ | 384 | $ | 533 | |||||||||
Corporate, Other and Eliminations | |||||||||||||||
Charges related to cost reduction actions and related items (a) | $ | -26 | $ | -136 | $ | -17 | |||||||||
Net gain (loss) related to Hurricane Sandy property damage and insurance recovery | 15 | -9 | - | ||||||||||||
Accelerated depreciation related to a change in the useful life of assets at our incomplete Cordele, Georgia facility | -20 | - | - | ||||||||||||
Gain on sale of assets and related charges (b) | - | - | 16 | ||||||||||||
General corporate expense | -108 | -91 | -71 | ||||||||||||
EBIT | $ | 385 | $ | 148 | $ | 461 | |||||||||
(a) For 2013, 2012, and 2011, includes $8 million, $51 million, and $0 million of charges related to cost reduction actions and $18 million, $85 million, and $17 million of other related items. | |||||||||||||||
(b) The gain on sale of assets and related charges for 2011 includes $16 million gain on sale of Capivari, Brazil. | |||||||||||||||
TOTAL ASSETS AND PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION | |||||||||||||||
The following table summarizes total assets by segment and property, plant and equipment by geographic region (in millions): | |||||||||||||||
Dec. 31, | |||||||||||||||
TOTAL ASSETS | 2013 | 2012 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 2,379 | $ | 2,414 | |||||||||||
Building Materials | 4,011 | 3,896 | |||||||||||||
Total reportable segments | $ | 6,390 | $ | 6,310 | |||||||||||
Reconciliation to consolidated total assets | |||||||||||||||
Cash and cash equivalents | $ | 57 | $ | 55 | |||||||||||
Current and noncurrent Deferred income taxes | 573 | 685 | |||||||||||||
Investments in affiliates | 51 | 51 | |||||||||||||
Assets held for sale - current | 29 | - | |||||||||||||
Corporate property, plant and equipment, other assets and eliminations | 547 | 467 | |||||||||||||
CONSOLIDATED TOTAL ASSETS | $ | 7,647 | $ | 7,568 | |||||||||||
PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION | |||||||||||||||
United States | $ | 1,688 | $ | 1,708 | |||||||||||
Europe | 520 | 513 | |||||||||||||
Canada | 131 | 150 | |||||||||||||
Asia Pacific | 375 | 350 | |||||||||||||
Other | 218 | 182 | |||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT | $ | 2,932 | $ | 2,903 | |||||||||||
PROVISION FOR DEPRECIATION AND AMORTIZATION | |||||||||||||||
The following table summarizes the provision for depreciation and amortization by segment (in millions): | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 130 | $ | 123 | $ | 128 | |||||||||
Building Materials | 142 | 143 | 157 | ||||||||||||
Total reportable segments | $ | 272 | $ | 266 | $ | 285 | |||||||||
General corporate depreciation and amortization (a) | $ | 60 | $ | 83 | $ | 33 | |||||||||
CONSOLIDATED PROVISION FOR DEPRECIATION | |||||||||||||||
AND AMORTIZATION | $ | 332 | $ | 349 | $ | 318 | |||||||||
(a) 2013 includes $9 million of accelerated depreciation related to cost reduction actions and $20 million of accelerated depreciation related to the change in useful life of assets recorded as a result of our assessment of the future utility of an incomplete Insulation facility located in Cordele, Georgia. 2012 includes $55 million of accelerated depreciation charges related to cost reduction actions. | |||||||||||||||
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT | |||||||||||||||
The following table summarizes additions to property, plant and equipment by segment (in millions): | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 155 | $ | 167 | $ | 256 | |||||||||
Building Materials | 167 | 127 | 151 | ||||||||||||
Total reportable segments | $ | 322 | $ | 294 | $ | 407 | |||||||||
General corporate additions | $ | 31 | $ | 38 | $ | 35 | |||||||||
CONSOLIDATED ADDITIONS TO PROPERTY, PLANT AND | |||||||||||||||
EQUIPMENT | $ | 353 | $ | 332 | $ | 442 |
INVENTORIES
INVENTORIES | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventories Abstract | ' | |||||
INVENTORIES | ' | |||||
3. INVENTORIES | ||||||
Inventories consist of the following (in millions): | ||||||
Dec. 31, | ||||||
2013 | 2012 | |||||
Finished goods | $ | 580 | $ | 554 | ||
Materials and supplies | 230 | 232 | ||||
Total inventories | $ | 810 | $ | 786 |
DERIVATIVE_FINANCIAL_INSTRUMEN
DERIVATIVE FINANCIAL INSTRUMENTS | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ' | ||||||||||||||||||||||||||||||
4. DERIVATIVE FINANCIAL INSTRUMENTS | |||||||||||||||||||||||||||||||
The Company is exposed to, among other risks, the impact of changes in commodity prices, foreign currency exchange rates, and interest rates in the normal course of business. The Company's risk management program is designed to manage the exposure and volatility arising from these risks, and utilizes derivative financial instruments to offset a portion of these risks. The Company uses derivative financial instruments only to the extent necessary to hedge identified business risks, and does not enter into such transactions for trading purposes. | |||||||||||||||||||||||||||||||
The Company generally does not require collateral or other security with counterparties to these financial instruments and is therefore subject to credit risk in the event of nonperformance; however, the Company monitors credit risk and currently does not anticipate nonperformance by other parties. Contracts with counterparties generally contain right of offset provisions. These provisions effectively reduce the Company's exposure to credit risk in situations where the Company has gain and loss positions outstanding with a single counterparty. It is the Company's policy to offset on the Consolidated Balance Sheets the amounts recognized for derivative instruments with any cash collateral arising from derivative instruments executed with the same counterparty under a master netting agreement. As of December 31, 2013 and 2012, the Company did not have any amounts on deposit with any of its counterparties, nor did any of its counterparties have any amounts on deposit with the Company. | |||||||||||||||||||||||||||||||
The following table presents the fair value and respective location of derivatives and hedging instruments on the Consolidated Balance Sheets (in millions): | |||||||||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||||||||
Dec. 31, | Dec. 31, | ||||||||||||||||||||||||||||||
Location | 2013 | 2012 | |||||||||||||||||||||||||||||
Derivative assets designated as hedging instruments: | |||||||||||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||||||
Natural gas and electricity | Other current assets | $ | 1 | $ | - | ||||||||||||||||||||||||||
Amount of gain recognized in OCI (effective portion) | OCI | $ | 1 | $ | - | ||||||||||||||||||||||||||
Derivative liabilities designated as hedging instruments: | |||||||||||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||||||
Accounts payable and | |||||||||||||||||||||||||||||||
Natural gas and electricity | accrued liabilities | $ | - | $ | 1 | ||||||||||||||||||||||||||
Amount of loss recognized in OCI (effective portion) | OCI | $ | - | $ | 1 | ||||||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||||||||
Accounts payable and | |||||||||||||||||||||||||||||||
Interest rate swaps | accrued liabilities | $ | 3 | $ | - | ||||||||||||||||||||||||||
Derivative assets not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Foreign exchange contracts | Other current assets | $ | - | $ | 1 | ||||||||||||||||||||||||||
Derivative liabilities not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Accounts payable and | |||||||||||||||||||||||||||||||
Foreign exchange contracts | accrued liabilities | $ | 1 | $ | 3 | ||||||||||||||||||||||||||
The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (Loss) (in millions): | |||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, | |||||||||||||||||||||||||||||||
Location | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||
Derivative activity designated as hedging instruments: | |||||||||||||||||||||||||||||||
Natural gas and electricity: | |||||||||||||||||||||||||||||||
Amount of loss reclassified from OCI into earnings | |||||||||||||||||||||||||||||||
(effective portion) | Cost of sales | $ | 1 | $ | 5 | $ | 4 | ||||||||||||||||||||||||
Interest rate swaps: | |||||||||||||||||||||||||||||||
Amount of (gain) loss recognized in earnings | Interest | ||||||||||||||||||||||||||||||
(ineffective portion) | expense, net | $ | -1 | $ | - | $ | 2 | ||||||||||||||||||||||||
Derivative activity not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Natural gas and electricity: | |||||||||||||||||||||||||||||||
Amount of (gain) loss recognized in earnings | Other expenses (income), net | $ | - | $ | - | $ | -1 | ||||||||||||||||||||||||
Foreign currency exchange contract: | |||||||||||||||||||||||||||||||
Amount of (gain) loss recognized in earnings (a) | Other expenses (income), net | $ | 12 | $ | 17 | $ | -14 | ||||||||||||||||||||||||
(a) | (Gains) / losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign denominated balance sheet exposures, which were also recorded in Other (income) expenses, net. | ||||||||||||||||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||||||||
The Company uses forward and swap contracts, which qualify as cash flow hedges, to manage forecasted exposure to natural gas and electricity prices. The effective portion of the change in the fair value of cash flow hedges is deferred in accumulated OCI on the Consolidated Balance Sheets and is subsequently recognized in cost of sales on the Consolidated Statements of Earnings (Loss) for commodity hedges, when the hedged item impacts earnings. Changes in the fair value of derivative assets and liabilities designated as hedging instruments are shown in other within operating activities on the Consolidated Statements of Cash Flows. Any portion of the change in fair value of derivatives designated as hedging instruments that is determined to be ineffective is recorded in other expenses (income), net on the Consolidated Statements of Earnings (Loss). | |||||||||||||||||||||||||||||||
The Company currently has natural gas and electricity commodity derivatives designated as hedging instruments that mature within 15 months. The Company's policy for natural gas exposures is to hedge up to 75% of its total forecasted exposures for the next two months, up to 50% of its total forecasted exposures for the following four months, and lesser amounts for the remaining periods. The Company's policy for electricity exposures is to hedge up to 75% of its total forecasted exposures for the current calendar year and up to 65% of its total forecasted exposures for the first calendar year forward. Based on market conditions, approved variation from the standard policy may occur. The Company performs an analysis for effectiveness of its derivatives designated as hedging instruments at the end of each quarter based on the terms of the contract and the underlying item being hedged. | |||||||||||||||||||||||||||||||
As of December 31, 2013, $1 million of gains included in OCI on the Consolidated Balance Sheets relate to contracts that will impact earnings during the next 12 months. Transactions and events that are expected to occur over the next 12 months that will necessitate recognizing these deferred gains include the recognition of the hedged item through earnings. | |||||||||||||||||||||||||||||||
Fair Value Hedges | |||||||||||||||||||||||||||||||
The Company manages its interest rate exposure by balancing the mix of its fixed and variable rate instruments at certain times through interest rate swaps. The swaps are carried at fair value and recorded as other assets or liabilities, with the offset to long-term debt on the Consolidated Balance Sheets. Changes in the fair value of these swaps and that of the related debt are recorded in interest expense, net on the Consolidated Statements of Earnings (Loss). | |||||||||||||||||||||||||||||||
Other Derivatives | |||||||||||||||||||||||||||||||
The Company uses forward currency exchange contracts to manage existing exposures to foreign exchange risk related to assets and liabilities recorded on the Consolidated Balance Sheets. Gains and losses resulting from the changes in fair value of these instruments are recorded in other expenses (income), net on the Consolidated Statements of Earnings (Loss). |
GOODWILL_AND_OTHER_INTANGIBLE_
GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ' | ||||||||||||
5. GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||
Intangible assets and goodwill consist of the following (in millions): | |||||||||||||
Dec. 31, 2013 | Weighted Average Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Amortizable intangible assets: | |||||||||||||
Customer relationships | 19 | $ | 181 | $ | -68 | $ | 113 | ||||||
Technology | 20 | 195 | -74 | 121 | |||||||||
Franchise and other agreements | 14 | 36 | -16 | 20 | |||||||||
Indefinite-lived intangible assets: | |||||||||||||
Trademarks | 786 | - | 786 | ||||||||||
Total intangible assets | $ | 1,198 | $ | -158 | $ | 1,040 | |||||||
Goodwill | $ | 1,166 | |||||||||||
Dec. 31, 2012 | Weighted Average Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Amortizable intangible assets: | |||||||||||||
Customer relationships | 19 | $ | 169 | $ | -58 | $ | 111 | ||||||
Technology | 20 | 198 | -64 | 134 | |||||||||
Franchise and other agreements | 15 | 37 | -14 | 23 | |||||||||
Indefinite-lived intangible assets: | |||||||||||||
Trademarks | 777 | - | 777 | ||||||||||
Total intangible assets | $ | 1,181 | $ | -136 | $ | 1,045 | |||||||
Goodwill | $ | 1,143 | |||||||||||
The changes in the net carrying amount of goodwill by segment are as follows (in millions): | |||||||||||||
Composites | Building Materials | Total | |||||||||||
Balance as of December 31, 2012 | $ | 56 | $ | 1,087 | $ | 1,143 | |||||||
Acquisitions (see Note 9) | 2 | 22 | 24 | ||||||||||
Foreign currency adjustments | -1 | - | -1 | ||||||||||
Balance as of December 31, 2013 | $ | 57 | $ | 1,109 | $ | 1,166 | |||||||
Other Intangible Assets | |||||||||||||
The Company amortizes the cost of other intangible assets over their estimated useful lives, which range up to twenty five years. The Company expects the ongoing amortization expense for amortizable intangible assets to be $23 million in each of the next five fiscal years. The Company's future cash flows are not materially impacted by its ability to extend or renew agreements related to its amortizable intangible assets. These costs are reported in Other expenses (income), net on the Consolidated Statements of Earnings (Loss) as incurred. | |||||||||||||
Goodwill and Indefinite-Lived Intangible Assets | |||||||||||||
The Company tests goodwill and indefinite-lived intangible assets for impairment as of October 1 each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The annual test performed in 2013 resulted in no impairment of goodwill. |
PROPERTY_PLANT_AND_EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Property, Plant And Equipment [Abstract] | ' | |||||
PROPERTY, PLANT AND EQUIPMENT | ' | |||||
6. PROPERTY, PLANT AND EQUIPMENT | ||||||
Property, plant and equipment consist of the following (in millions): | ||||||
Dec. 31, | Dec. 31, | |||||
2013 | 2012 | |||||
Land | $ | 210 | $ | 222 | ||
Buildings and leasehold improvements | 811 | 789 | ||||
Machinery and equipment | 3,353 | 3,223 | ||||
Construction in progress | 173 | 147 | ||||
4,547 | 4,381 | |||||
Accumulated depreciation | -1,615 | -1,478 | ||||
Property, plant and equipment, net | $ | 2,932 | $ | 2,903 | ||
Machinery and equipment includes certain precious metals used in the Company's production tooling, which comprise approximately 17% and 18% of total machinery and equipment as of December 31, 2013 and December 31, 2012, respectively. Precious metals used in our production tooling are depleted as they are consumed during the production process, which typically represents an annual expense of less than 3% of the outstanding carrying value. | ||||||
CHANGES_IN_NONCONTROLLING_INTE
CHANGES IN NONCONTROLLING INTERESTS | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||||
CHANGES IN NONCONTROLLING INTEREST | ' | |||||||||||||
7. CHANGES IN NONCONTROLLING INTERESTS | ||||||||||||||
In the third quarter of 2012, the Company executed a purchase agreement for the remaining noncontrolling interest of Northern Elastomeric Incorporated (“NEI”), one of the Company's consolidated subsidiaries. As a result of the purchase agreement, NEI became a wholly-owned subsidiary of the Company, with the Company providing $22 million in cash consideration. The transaction resulted in a $6 million decrease in Noncontrolling interests on the Consolidated Balance Sheets. | ||||||||||||||
The following table discloses the changes in noncontrolling interests on Owens Corning stockholders' equity and effects on net earnings attributable to Owens Corning (in millions): | ||||||||||||||
Twelve Months Ended | ||||||||||||||
Dec. 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net earnings (loss) attributable to Owens Corning | $ | 204 | $ | -19 | $ | 276 | ||||||||
Increase (decrease) in Owens Corning additional paid in capital for | ||||||||||||||
NEI purchase agreement | - | -16 | - | |||||||||||
Change from net earnings (loss) attributable to Owens Corning and | ||||||||||||||
change in noncontrolling interests | $ | 204 | $ | -35 | $ | 276 | ||||||||
INVESTMENTS_IN_AFFILIATES
INVESTMENTS IN AFFILIATES | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||
Equity Method Investments Disclosure [Text Block] | ' | |||||||||
8. INVESTMENTS IN AFFILIATES | ||||||||||
At December 31, 2013 and 2012, the Company's ownership percentage in affiliates, which generally are engaged in the manufacture of fibrous glass and related products for the insulation, construction, reinforcements, and textile markets, included: | ||||||||||
Dec. 31, | ||||||||||
2013 | 2012 | |||||||||
Arabian Fiberglass Insulation Company, Ltd. (Saudi Arabia) | 49% | 49% | ||||||||
Fiberteq LLC (United States) | 50% | 50% | ||||||||
Neptco LLC (United States) | 50% | 50% | ||||||||
The following tables provide summarized financial information on a combined 100% basis for the Company's affiliates accounted for under the equity method (in millions): | ||||||||||
Dec. 31, | ||||||||||
2013 | 2012 | |||||||||
Current assets | $ | 50 | $ | 53 | ||||||
Non-current assets | $ | 90 | $ | 85 | ||||||
Current liabilities | $ | 25 | $ | 22 | ||||||
Non-current liabilities | $ | 23 | $ | 24 | ||||||
Twelve Months Ended | ||||||||||
Dec. 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Net sales | $ | 138 | $ | 140 | $ | 143 | ||||
Gross margin | $ | 7 | $ | 11 | $ | 14 | ||||
Net earnings | $ | 1 | $ | 5 | $ | 5 | ||||
Dividends received from entities are accounted for under the equity method. There were no dividends received for the years ended 2013, 2012 and 2011. There were no undistributed earnings of affiliates for the year ended December 31, 2013. |
ACQUISITIONS
ACQUISITIONS | 12 Months Ended |
Dec. 31, 2013 | |
Business Combinations [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
9. ACQUISITIONS | |
During the third quarter of 2013, the Company made cash payments of $10 million related to our July 31, 2011 acquisitions of FiberTEK Insulation West, LLC and FiberTEK Insulation, LLC. Deferred payments totaling $15 million remain outstanding and are due in annual installments through 2018. As of December 31, 2013, the deferred payments are recorded at their net present value of $5 million in accounts payable and accrued liabilities and $8 million in other liabilities on the Consolidated Balance Sheets. | |
During the second quarter of 2013 the Company completed the acquisitions of Thermafiber Inc., a leading manufacturer of commercial and industrial mineral wool insulation products located in Indiana and Tanaka Kikinzoku (Suzhou) Co., Ltd, a producer of glass fiber bushings in China. The Company provided total consideration that had a fair value of $52 million at the acquisition dates. The acquisitions resulted in the recognition of $19 million in intangible assets; and $24 million in goodwill. The pro-forma effect of these acquisitions on revenues and earnings was not material. |
DIVESTITURES
DIVESTITURES | 12 Months Ended |
Dec. 31, 2013 | |
Business Divestitures [Abstract] | ' |
Business Divestitures, Disclosure [Text Block] | ' |
10. DIVESTITURES | |
On September 13, 2013, the Company signed an agreement to sell its Composites glass reinforcements facility in Hangzhou, Peoples Republic of China for total compensation of approximately $70 million to the Hangzhou Municipal Land Reservation Center and the Development and Construction Management Office of Taoyuan New Zone of Gongshu District in Hangzhou (“Hangzhou Government”), both of which are unrelated third party government entities. As of December 31, 2013 the Company received $34 million in cash, which is recorded as a deposit on the sale. The balance of the compensation, approximately $35 million, is payable upon returning the land to the Hangzhou Government, which is expected during the first half of 2014. The sale, which is expected to close in the first half of 2014, will result in a pre-tax gain of approximately $30 million to $40 million. |
ASSETS_AND_LIABILITIES_HELD_FO
ASSETS AND LIABILITIES HELD FOR SALE | 12 Months Ended |
Dec. 31, 2013 | |
Discontinued Operations and Disposal Groups [Abstract] | ' |
Assets and Liabilities Held for Sale [Text Block] | ' |
11. ASSETS HELD FOR SALE | |
During 2013, the Company closed its Hangzhou, Peoples Republic of China and Vado, Italy facilities. The assets held for sale consisted of $21 million and $8 million of Property, Plant and Equipment at the Hangzhou and Vado facilities, respectively. There were no other assets or liabilities held for sale related to these facilities as of December 31, 2013. |
LEASES
LEASES | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Leases of Lessee Disclosure [Text Block] | ' | |||
12. OPERATING LEASES | ||||
The Company leases certain equipment and facilities under operating leases expiring on various dates through 2023. Some of these leases include cost-escalation clauses. Such cost-escalation clauses are recognized on a straight-line basis over the lease term. Total rental expense was $83 million, $79 million and $74 million in the years ended December 31, 2013, 2012 and 2011, respectively. At December 31, 2013, the minimum future rental commitments under non-cancelable operating leases with initial maturities greater than one year payable over the remaining lives of the leases are (in millions): | ||||
Period | Minimum Future Rental Commitments | |||
2014 | $ | 66 | ||
2015 | $ | 39 | ||
2016 | $ | 31 | ||
2017 | $ | 22 | ||
2018 | $ | 14 | ||
2019 and beyond | $ | 36 |
ACCOUNTS_PAYABLE_AND_ACCRUED_L
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | |||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | |||||||
13. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | ||||||||
Accounts payable and accrued liabilities consist of the following (in millions): | ||||||||
Dec. 31, | ||||||||
2013 | 2012 | |||||||
Accounts payable | $ | 547 | $ | 498 | ||||
Payroll, vacation pay, and incentive compensation | 161 | 115 | ||||||
Payroll, property, and other taxes | 95 | 98 | ||||||
Other employee benefits liabilities | 39 | 40 | ||||||
Warranties (current portion) | 19 | 20 | ||||||
Legal and audit fees | 7 | 11 | ||||||
Accrued interest | 8 | 11 | ||||||
Charges related to cost reduction actions | 26 | 45 | ||||||
Deferred acquisition payments | 5 | 10 | ||||||
Other | 81 | 59 | ||||||
Total | $ | 988 | $ | 907 |
WARRANTIES
WARRANTIES | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Warranties [Abstract] | ' | ||||||
WARRANTIES | ' | ||||||
14. WARRANTIES | |||||||
The Company records a liability for warranty obligations at the date the related products are sold. Adjustments are made as new information becomes available. A reconciliation of the warranty liability is as follows (in millions): | |||||||
Dec. 31, | |||||||
2013 | 2012 | ||||||
Beginning balance | $ | 41 | $ | 38 | |||
Amounts accrued for current year | 21 | 24 | |||||
Settlements of warranty claims | -21 | -21 | |||||
Ending balance | $ | 41 | $ | 41 | |||
COST_REDUCTION_ACTIONS
COST REDUCTION ACTIONS | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||||
15. COST REDUCTION ACTIONS | |||||||||||||||||||
2013 Cost Reduction Actions | |||||||||||||||||||
As a result of the Company's decision to divest its Composites glass reinforcements facility in Hangzhou, Peoples Republic of China discussed in Note 10 to the Consolidated Financial Statements, we have recorded $6 million in charges related to cost reduction actions on the Consolidated Statements of Earnings (Loss) for the twelve months ended December 31, 2013. | |||||||||||||||||||
The following table summarizes the status of the unpaid liabilities from the Company's 2013 cost reduction actions (in millions): | |||||||||||||||||||
Beginning Balance Dec. 31, 2012 | Costs Incurred | Payments | Ending Balance Dec. 31, 2013 | Cumulative Charges Incurred | |||||||||||||||
Severance | $ | - | $ | 6 | $ | - | $ | 6 | $ | 6 | |||||||||
Total | $ | - | $ | 6 | $ | - | $ | 6 | $ | 6 | |||||||||
2 | |||||||||||||||||||
49 | |||||||||||||||||||
2012 Cost Reduction Actions | |||||||||||||||||||
Composites | |||||||||||||||||||
As a result of evaluating market conditions in our Composites segment, we took actions to improve the competitive position of our global manufacturing network by closing certain facilities, with most significant actions taking place in France, Spain and Italy. These actions were primarily due to market conditions that led to lower capacity requirements within the European region. In conjunction with these actions, the Company recorded $20 million and $131 million in charges related to cost reduction actions and related items for the twelve months ended December 31, 2013 and 2012, respectively; of which, $2 million and $49 million, respectively, is related to severance and is included in charges related to cost reduction actions on the Consolidated Statements of Earnings (Loss). The $18 million and $82 million of other charges consist of $9 million and $55 million in accelerated depreciation due to the shortened expected useful life of the closed facilities and $9 million and $27 million in related other charges that primarily consisted of facility closure and related other exit costs, respectively. | |||||||||||||||||||
Building Materials | |||||||||||||||||||
In the first quarter of 2012, the Company's actions resulted in $5 million in charges, comprised of $2 million in severance costs and $3 million of other charges. | |||||||||||||||||||
The following table summarizes the status of the unpaid liabilities from the Company's 2012 cost reduction actions (in millions): | |||||||||||||||||||
Beginning Balance Dec. 31, 2012 | Costs Incurred | Payments | Ending Balance Dec. 31, 2013 | Cumulative Charges Incurred | |||||||||||||||
Severance | $ | 45 | $ | 2 | $ | 21 | $ | 26 | $ | 53 | |||||||||
Total | $ | 45 | $ | 2 | $ | 21 | $ | 26 | $ | 53 |
DEBT
DEBT | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Debt Disclosure [Abstract] | ' | ||||||
DEBT | ' | ||||||
16. DEBT | |||||||
Details of the Company's outstanding long-term debt are as follows (in millions): | |||||||
Dec. 31, | Dec. 31, | ||||||
2013 | 2012 | ||||||
6.50% senior notes, net of discount, due 2016 | $ | 400 | $ | 400 | |||
9.00% senior notes, net of discount, due 2019 | 248 | 247 | |||||
4.20% senior notes, net of discount, due 2022 | 599 | 599 | |||||
7.00% senior notes, net of discount, due 2036 | 540 | 540 | |||||
Accounts receivable securitization facility, maturing in 2016 | 162 | 141 | |||||
Senior revolving credit facility, maturing in 2018 | 12 | 73 | |||||
Various capital leases, due through and beyond 2050 | 49 | 52 | |||||
Various floating rate debt, maturing through 2017 | 1 | 2 | |||||
Fair value adjustment to debt | 16 | 26 | |||||
Total long-term debt | 2,027 | 2,080 | |||||
Less – current portion | 3 | 4 | |||||
Long-term debt, net of current portion | $ | 2,024 | $ | 2,076 | |||
Senior Notes | |||||||
The Company issued $600 million of 2022 senior notes on October 17, 2012. The proceeds of these notes were used to refinance $250 million of our 2016 senior notes, $100 million of our 2019 senior notes and pay down our Senior Revolving Credit Facility. Interest on the notes is payable semiannually in arrears on June 15 and December 15 each year, beginning on June 15, 2013. | |||||||
The Company issued $350 million of 2019 senior notes on June 3, 2009. On October 31, 2006, we issued $650 million of 2016 senior notes and $540 million of 2036 senior notes. The proceeds of these notes were used to pay certain unsecured and administrative claims, finance general working capital needs and for general corporate purposes. | |||||||
Collectively, the notes above are referred to as the “Senior Notes.” The Senior Notes are general unsecured obligations of the Company and rank pari passu with all existing and future senior unsecured indebtedness of the Company. | |||||||
The Senior Notes are fully and unconditionally guaranteed by each of the Company's current and future domestic subsidiaries that are a borrower or guarantor under the Company's Credit Agreement (as defined below). The guarantees are unsecured and rank equally in right of payment with all other existing and future senior unsecured indebtedness of the guarantors. The guarantees are effectively subordinated to existing and future secured debt of the guarantors to the extent of the assets securing that indebtedness. | |||||||
The Company has the option to redeem all or part of the Senior Notes at any time at a “make whole” redemption price. The Company is subject to certain covenants in connection with the issuance of the Senior Notes that it believes are usual and customary. The Company was in compliance with these covenants as of December 31, 2013. | |||||||
In the fourth quarter of 2011, the Company terminated all interest rate swaps designated to hedge a portion of the 6.5% senior notes due 2016. The swaps were carried at fair value and recorded as other assets or liabilities, with a fair value adjustment to long-term debt on the Consolidated Balance Sheets. The fair value adjustment to debt will be amortized through 2016 as a reduction to interest expense in conjunction with the maturity date of the notes. | |||||||
On June 28, 2013, the Company entered into interest rate swap agreements effective July 1, 2013 to manage its interest rate exposure by swapping $100 million of fixed rate to variable rate exposure designated against our 4.2% senior notes due 2022. The swaps are carried at fair value and recorded as other assets or liabilities, with a fair value adjustment to long-term debt on the Consolidated Balance Sheets. | |||||||
Senior Credit Facilities | |||||||
In November 2013, the Company amended the credit agreement (the “Credit Agreement”) for the $800 million multi-currency senior revolving credit facility (the “Senior Revolving Credit Facility”) to extend the maturity to November 2018 and reduce the letters of credit sublimit to $100 million. The Senior Revolving Credit Facility includes both borrowings and letters of credit. Borrowings under the Senior Revolving Credit Facility may be used for general corporate purposes and working capital. The Company has the discretion to borrow under multiple options, which provide for varying terms and interest rates including the United States prime rate or LIBOR plus a spread. | |||||||
The Senior Revolving Credit Facility contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio that the Company believes are usual and customary for a senior unsecured credit agreement. The Company was in compliance with these covenants as of December 31, 2013. | |||||||
The Company had $15 million of letters of credit outstanding under the Senior Revolving Credit Facility at December 31, 2013. | |||||||
Receivables Securitization Facility | |||||||
Included in long-term debt on the Consolidated Balance Sheets are amounts outstanding under a Receivables Purchase Agreement (the “RPA”) that are accounted for as secured borrowings in accordance with ASC 860, Accounting for Transfers and Servicing. Owens Corning Sales, LLC and Owens Corning Receivables LLC, each a subsidiary of the Company, have a $250 million RPA with certain financial institutions. The securitization facility was amended in the third quarter of 2013 to extend maturity to July 2016 and to reduce the size of the facility to $200 million during the months of November, December, and January each year. At December 31, 2013, the Company utilized the full amount permitted under the terms of the receivables securitization facility. The Company had $38 million of letters of credit outstanding under the receivables securitization facility at December 31, 2013. | |||||||
The RPA contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio that the Company believes are usual and customary for a securitization facility. The Company was in compliance with these covenants as of December 31, 2013. | |||||||
Owens Corning Receivables LLC's sole business consists of the purchase or acceptance through capital contributions of trade receivables and related rights from Owens Corning Sales, LLC and the subsequent retransfer of or granting of a security interest in such trade receivables and related rights to certain purchasers party to the RPA. Owens Corning Receivables LLC is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of Owens Corning Receivables LLC's assets prior to any assets or value in Owens Corning Receivables LLC becoming available to Owens Corning Receivables LLC's equity holders. The assets of Owens Corning Receivables LLC are not available to pay creditors of the Company or any other affiliates of the Company or Owens Corning Sales, LLC. | |||||||
Debt Maturities | |||||||
The aggregate maturities for all long-term debt issues for each of the five years following December 31, 2013 and thereafter are presented in the table below (in millions). The maturities are stated at total cash the Company is contractually obligated to pay third parties and are not stated net of discount. The effects of the interest rate swap are not included in the table below. | |||||||
Period | Maturities | ||||||
2014 | $ | 3 | |||||
2015 | 3 | ||||||
2016 | 580 | ||||||
2017 | 3 | ||||||
2018 | 15 | ||||||
2019 and beyond | 1,423 | ||||||
Total | $ | 2,027 | |||||
Short-Term Debt | |||||||
At December 31, 2013 and December 31, 2012, short-term borrowings were $1 million and $5 million, respectively. The short-term borrowings for both periods consisted of various operating lines of credit and working capital facilities. Certain of these borrowings are collateralized by receivables, inventories or property. The borrowing facilities are typically for one-year renewable terms. The weighted average interest rate on all short-term borrowings was approximately 2.2% for December 31, 2013 and 4.5% for December 31, 2012. | |||||||
PENSION_PLANS_AND_OTHER_POSTRE
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure Abstract | ' | ||||||||||||||||||
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS | ' | ||||||||||||||||||
17. PENSION PLANS | |||||||||||||||||||
The Company sponsors defined benefit pension plans. Under the plans, pension benefits are based on an employee's years of service and, for certain categories of employees, qualifying compensation. Company contributions to these pension plans are determined by an independent actuary to meet or exceed minimum funding requirements. In our U.S. plan prior to 2013 and in all of our Non-U.S plans, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average future service period of plan participants expected to receive benefits. As of January 1, 2013, an increase in the number of inactive participants in our U.S. plan resulted in substantially all of the plan participants being inactive. Accordingly, we elected to begin amortizing the unrecognized cost of any retroactive amendments and actuarial gains and losses over the average remaining life expectancy of the inactive participants as opposed to the average remaining service period of the active participants. | |||||||||||||||||||
The following tables provide a reconciliation of the change in the projected benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Change in Projected Benefit Obligation | |||||||||||||||||||
Benefit obligation at beginning of period | $ | 1,187 | $ | 554 | $ | 1,741 | $ | 1,105 | $ | 503 | $ | 1,608 | |||||||
Service cost | 9 | 6 | 15 | 9 | 5 | 14 | |||||||||||||
Interest cost | 44 | 21 | 65 | 49 | 23 | 72 | |||||||||||||
Actuarial (gain) loss | -91 | 3 | -88 | 111 | 34 | 145 | |||||||||||||
Currency (gain) loss | - | -8 | -8 | - | 16 | 16 | |||||||||||||
Benefits paid | -79 | -21 | -100 | -87 | -23 | -110 | |||||||||||||
Settlements / Curtailments | - | -7 | -7 | - | -6 | -6 | |||||||||||||
Other | - | -2 | -2 | - | 2 | 2 | |||||||||||||
Benefit obligation at end of period | $ | 1,070 | $ | 546 | $ | 1,616 | $ | 1,187 | $ | 554 | $ | 1,741 | |||||||
Change in Plan Assets | |||||||||||||||||||
Fair value of assets at beginning of period | $ | 856 | $ | 404 | $ | 1,260 | $ | 812 | $ | 360 | $ | 1,172 | |||||||
Actual return on plan assets | 60 | 35 | 95 | 99 | 40 | 139 | |||||||||||||
Currency gain (loss) | - | -9 | -9 | - | 12 | 12 | |||||||||||||
Company contributions | 20 | 20 | 40 | 32 | 18 | 50 | |||||||||||||
Benefits paid | -79 | -21 | -100 | -87 | -23 | -110 | |||||||||||||
Settlements/curtailments | - | -7 | -7 | - | -3 | -3 | |||||||||||||
Other | 1 | - | 1 | - | - | - | |||||||||||||
Fair value of assets at end of period | $ | 858 | $ | 422 | $ | 1,280 | $ | 856 | $ | 404 | $ | 1,260 | |||||||
Funded status | $ | -212 | $ | -124 | $ | -336 | $ | -331 | $ | -150 | $ | -481 | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||
Prepaid pension cost | $ | - | $ | 2 | $ | 2 | $ | - | $ | 1 | $ | 1 | |||||||
Accrued pension cost - current | - | -2 | -2 | - | -2 | -2 | |||||||||||||
Accrued pension cost - non-current | -212 | -124 | -336 | -331 | -149 | -480 | |||||||||||||
Net amount recognized | $ | -212 | $ | -124 | $ | -336 | $ | -331 | $ | -150 | $ | -481 | |||||||
Amounts Recorded in Accumulated OCI | |||||||||||||||||||
Net actuarial loss | $ | -289 | $ | -78 | $ | -367 | $ | -396 | $ | -95 | $ | -491 | |||||||
The following table presents information about the projected benefit obligation, accumulated benefit obligation ("ABO") and plan assets of the Company's pension plans (in millions): | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Plans with ABO in excess of fair value | |||||||||||||||||||
of plan assets: | |||||||||||||||||||
Projected benefit obligation | $ | 1,070 | $ | 406 | $ | 1,476 | $ | 1,187 | $ | 511 | $ | 1,698 | |||||||
Accumulated benefit obligation | $ | 1,070 | $ | 392 | $ | 1,462 | $ | 1,187 | $ | 487 | $ | 1,674 | |||||||
Fair value of plan assets | $ | 858 | $ | 293 | $ | 1,151 | $ | 856 | $ | 365 | $ | 1,221 | |||||||
Plans with fair value of assets in | |||||||||||||||||||
excess of ABO: | |||||||||||||||||||
Projected benefit obligation | $ | - | $ | 132 | $ | 132 | $ | - | $ | 43 | $ | 43 | |||||||
Accumulated benefit obligation | $ | - | $ | 121 | $ | 121 | $ | - | $ | 33 | $ | 33 | |||||||
Fair value of plan assets | $ | - | $ | 129 | $ | 129 | $ | - | $ | 39 | $ | 39 | |||||||
Total projected benefit obligation | $ | 1,070 | $ | 538 | $ | 1,608 | $ | 1,187 | $ | 554 | $ | 1,741 | |||||||
Total accumulated benefit obligation | $ | 1,070 | $ | 513 | $ | 1,583 | $ | 1,187 | $ | 520 | $ | 1,707 | |||||||
Total plan assets | $ | 858 | $ | 422 | $ | 1,280 | $ | 856 | $ | 404 | $ | 1,260 | |||||||
Weighted-Average Assumptions Used to Determine Benefit Obligation | |||||||||||||||||||
The following table presents weighted average assumptions used to determine benefit obligations at the measurement dates noted: | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
United States Plans | |||||||||||||||||||
Discount rate | 4.65% | 3.80% | |||||||||||||||||
Expected return on plan assets | 7.00% | 7.50% | |||||||||||||||||
Non-United States Plans | |||||||||||||||||||
Discount rate | 4.45% | 4.10% | |||||||||||||||||
Expected return on plan assets | 6.38% | 6.13% | |||||||||||||||||
Rate of compensation increase | 3.94% | 3.50% | |||||||||||||||||
Components of Net Periodic Pension Cost | |||||||||||||||||||
The following table presents the components of net periodic pension cost for the periods noted (in millions): | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Service cost | $ | 15 | $ | 15 | $ | 14 | |||||||||||||
Interest cost | 65 | 72 | 78 | ||||||||||||||||
Expected return on plan assets | -84 | -86 | -91 | ||||||||||||||||
Amortization of actuarial loss | 20 | 29 | 15 | ||||||||||||||||
Net periodic benefit cost | $ | 16 | $ | 30 | $ | 16 | |||||||||||||
Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost | |||||||||||||||||||
The following table presents weighted-average assumptions used to determine net periodic pension costs for the periods noted: | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
United States Plans | |||||||||||||||||||
Discount rate | 3.80% | 4.60% | 5.30% | ||||||||||||||||
Expected return on plan assets | 7.50% | 7.25% | 7.75% | ||||||||||||||||
Rate of compensation increase | N/A (a) | N/A (a) | N/A (a) | ||||||||||||||||
Non-United States Plans | |||||||||||||||||||
Discount rate | 4.10% | 4.65% | 5.21% | ||||||||||||||||
Expected return on plan assets | 6.13% | 7.23% | 7.25% | ||||||||||||||||
Rate of compensation increase | 3.50% | 3.75% | 3.86% | ||||||||||||||||
(a) Not applicable due to changes in plan made on August 1, 2009 that were effective beginning January 1, 2010. | |||||||||||||||||||
The expected return on plan assets assumption is derived by taking into consideration the target plan asset allocation, historical rates of return on those assets, projected future asset class returns and net outperformance of the market by active investment managers. An asset return model is used to develop an expected range of returns on plan investments over a 20 year period, with the expected rate of return selected from a best estimate range within the total range of projected results. The result is then rounded down to the nearest 25 basis points. | |||||||||||||||||||
Accumulated Other Comprehensive Earnings (Deficit) | |||||||||||||||||||
For the year ended December 31, 2013, the Company recorded other comprehensive income of $81 million, net of tax, to OCI. Of the $(367) million balance in OCI, $11 million is expected to be recognized as net periodic pension cost during 2014. For the year ended December 31, 2012, the Company recorded a charge of $44 million, net of tax, to OCI. | |||||||||||||||||||
Items Measured at Fair Value | |||||||||||||||||||
The Company classifies and discloses pension plan assets in one of the following three categories: | |||||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets. | |||||||||||||||||||
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. | |||||||||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | |||||||||||||||||||
Plan Assets | |||||||||||||||||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall under United States pension plan assets at December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
2013 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 100 | $ | 38 | $ | - | $ | 138 | |||||||||||
Domestic passive index | - | 58 | - | 58 | |||||||||||||||
International actively managed | 121 | - | - | 121 | |||||||||||||||
International passive index | - | 25 | - | 25 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Short-term debt | - | 27 | - | 27 | |||||||||||||||
Corporate bonds | 240 | 27 | - | 267 | |||||||||||||||
Government debt | 91 | - | - | 91 | |||||||||||||||
Real estate investment trusts | 26 | - | - | 26 | |||||||||||||||
Absolute return strategies | - | 80 | - | 80 | |||||||||||||||
Real assets | - | 25 | - | 25 | |||||||||||||||
Total United States plan assets | $ | 578 | $ | 280 | $ | - | $ | 858 | |||||||||||
2012 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 129 | $ | - | $ | - | $ | 129 | |||||||||||
Domestic passive index | - | 55 | - | 55 | |||||||||||||||
International actively managed | 122 | - | - | 122 | |||||||||||||||
International passive index | - | 27 | - | 27 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Cash and cash equivalents | 1 | - | - | 1 | |||||||||||||||
Short-term debt | - | 24 | - | 24 | |||||||||||||||
Corporate bonds | 246 | 28 | - | 274 | |||||||||||||||
Government debt | 94 | - | - | 94 | |||||||||||||||
Real estate investment trusts | 27 | - | - | 27 | |||||||||||||||
Absolute return strategies | - | 76 | - | 76 | |||||||||||||||
Real assets | - | 27 | - | 27 | |||||||||||||||
Total United States plan assets | $ | 619 | $ | 237 | $ | - | $ | 856 | |||||||||||
The above asset allocations are in compliance with the United States pension plan's current investment policy. Level 3 assets include global long/short, event driven, diversified arbitrage, distressed securities, and other multi-strategy hedge fund vehicles. Some securities in these assets are not readily marketable. The fair value of these level 3 assets are determined by a mark to market valuation based on price information, volatility statistics, credit data, liquidity statistics, various risk assessments and other factors. | |||||||||||||||||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall under non-United States pension plan assets at December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
2013 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 30 | $ | 4 | $ | - | $ | 34 | |||||||||||
Domestic passive index | - | 4 | - | 4 | |||||||||||||||
International actively managed | - | 61 | - | 61 | |||||||||||||||
International passive index | 2 | 26 | - | 28 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Cash and cash equivalents | 3 | 22 | - | 25 | |||||||||||||||
Corporate bonds | - | 162 | - | 162 | |||||||||||||||
Government Debt | - | 7 | - | 7 | |||||||||||||||
Absolute return strategies | - | 101 | - | 101 | |||||||||||||||
Total non-United States plan assets | $ | 35 | $ | 387 | $ | - | $ | 422 | |||||||||||
2012 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 25 | $ | 4 | $ | - | $ | 29 | |||||||||||
Domestic passive index | - | 4 | - | 4 | |||||||||||||||
International actively managed | - | 50 | - | 50 | |||||||||||||||
International passive index | 8 | 23 | - | 31 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Cash and cash equivalents | 3 | 26 | - | 29 | |||||||||||||||
Corporate bonds | - | 166 | - | 166 | |||||||||||||||
Government Debt | - | 7 | - | 7 | |||||||||||||||
Absolute return strategies | - | 88 | - | 88 | |||||||||||||||
Total non-United States plan assets | $ | 36 | $ | 368 | $ | - | $ | 404 | |||||||||||
Investment Strategy | |||||||||||||||||||
The current investment policy for the United States pension plan is to have 38% of assets invested in equities, 3% in real estate, 6% in real assets, and 47% in intermediate and long-term fixed income securities, and 6% in absolute return strategies. Assets are rebalanced periodically to conform to policy tolerances. The Company actively evaluates the reasonableness of its asset mix given changes in the projected benefit obligation and market dynamics. | |||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||
The following table shows estimated future benefit payments from the Company's pension plans (in millions): | |||||||||||||||||||
Year | Estimated Benefit Payments | ||||||||||||||||||
2014 | $ | 98 | |||||||||||||||||
2015 | $ | 100 | |||||||||||||||||
2016 | $ | 102 | |||||||||||||||||
2017 | $ | 102 | |||||||||||||||||
2018 | $ | 101 | |||||||||||||||||
2019-2023 | $ | 503 | |||||||||||||||||
Contributions | |||||||||||||||||||
Owens Corning expects to contribute $35 million in cash to the United States pension plan during 2014 and another $20 million to non-United States plans. Actual contributions to the plans may change as a result of a variety of factors, including changes in laws that impact funding requirements. | |||||||||||||||||||
Defined Contribution Plans | |||||||||||||||||||
The Company sponsors two defined contribution plans which are available to substantially all United States employees. The Company matches a percentage of employee contributions up to a maximum level and contributes 2% of an employee's wages regardless of employee contributions. The Company recognized expense of $29 million, $30 million and $30 million during the years ended December 31, 2013, 2012 and 2011, respectively, related to these plans. | |||||||||||||||||||
18. POSTEMPLOYMENT AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS | |||||||||||||||||||
The Company maintains health care and life insurance benefit plans for certain retired employees and their dependents. The health care plans in the United States are non-funded and pay either (1) stated percentages of covered medically necessary expenses, after subtracting payments by Medicare or other providers and after stated deductibles have been met, or (2) fixed amounts of medical expense reimbursement. | |||||||||||||||||||
Employees become eligible to participate in the United States health care plans upon retirement if they have accumulated 10 years of service after age 45, 48 or 50, depending on the category of employee. For employees hired after December 31, 2005, the Company does not provide subsidized retiree health care. Some of the plans are contributory, with some retiree contributions adjusted annually. The Company has reserved the right to change or eliminate these benefit plans subject to the terms of collective bargaining agreements. | |||||||||||||||||||
In the fourth quarter of 2011, the Company ratified certain plan amendments which reduced the projected benefit obligation at year end by approximately $30 million. The Company implemented an Employee Group Waiver Plan (EGWP) effective January 1, 2013 to manage its prescription drug benefits for certain retiree groups. The Company also negotiated with certain unionized employees to increase the eligibility age for retiree medical benefits and to eliminate the post-65 retiree reimbursement account benefit for employees retiring on or after January 1, 2014. | |||||||||||||||||||
The following table provides a reconciliation of the change in the projected benefit obligation and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Change in Projected Benefit Obligation | |||||||||||||||||||
Benefit obligation at beginning of period | $ | 252 | $ | 21 | $ | 273 | $ | 244 | $ | 20 | $ | 264 | |||||||
Service cost | 2 | 1 | 3 | 3 | - | 3 | |||||||||||||
Interest cost | 8 | 1 | 9 | 10 | 1 | 11 | |||||||||||||
Actuarial loss (gain) | -18 | -2 | -20 | 17 | - | 17 | |||||||||||||
Currency loss (gain) | - | - | - | - | 1 | 1 | |||||||||||||
Plan amendments | - | - | - | -3 | - | -3 | |||||||||||||
Benefits paid | -18 | -2 | -20 | -19 | -1 | -20 | |||||||||||||
Other | 2 | -3 | -1 | - | - | - | |||||||||||||
Benefit obligation at end of period | $ | 228 | $ | 16 | $ | 244 | $ | 252 | $ | 21 | $ | 273 | |||||||
Funded status | $ | -228 | $ | -16 | $ | -244 | $ | -252 | $ | -21 | $ | -273 | |||||||
Amounts Recognized in the Consolidated | |||||||||||||||||||
Balance Sheets | |||||||||||||||||||
Accrued benefit obligation - current | $ | -20 | $ | - | $ | -20 | $ | -20 | $ | -1 | $ | -21 | |||||||
Accrued benefit obligation - non-current | -208 | -16 | -224 | -232 | -20 | -252 | |||||||||||||
Net amount recognized | $ | -228 | $ | -16 | $ | -244 | $ | -252 | $ | -21 | $ | -273 | |||||||
Amounts Recorded in Accumulated OCI | |||||||||||||||||||
Net actuarial gain | $ | 21 | $ | 6 | $ | 27 | $ | 4 | $ | 5 | $ | 9 | |||||||
Net prior service credit | 24 | - | 24 | 28 | - | 28 | |||||||||||||
Net amount recognized | $ | 45 | $ | 6 | $ | 51 | $ | 32 | $ | 5 | $ | 37 | |||||||
Weighted-Average Assumptions Used to Determine Benefit Obligations | |||||||||||||||||||
The following table presents the discount rates used to determine the benefit obligations: | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
United States plans | 4.35% | 3.50% | |||||||||||||||||
Non-United States plans | 4.45% | 3.80% | |||||||||||||||||
Components of Net Periodic Postretirement Benefit Cost | |||||||||||||||||||
The following table presents the components of net periodic postretirement benefit cost (in millions): | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Service cost | $ | 3 | $ | 3 | $ | 3 | |||||||||||||
Interest cost | 9 | 11 | 14 | ||||||||||||||||
Amortization of prior service cost | -4 | -4 | - | ||||||||||||||||
Amortization of actuarial gain | -1 | -3 | -1 | ||||||||||||||||
Curtailment gain | - | -1 | -2 | ||||||||||||||||
Net periodic postretirement benefit cost | $ | 7 | $ | 6 | $ | 14 | |||||||||||||
Weighted-Average Assumptions Used to Determine Net Periodic Postretirement Benefit Cost | |||||||||||||||||||
The following table presents the discount rates used to determine net periodic postretirement benefit cost: | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
United States plans | 3.50% | 4.35% | 5.05% | ||||||||||||||||
Non-United States plans | 3.80% | 4.10% | 4.80% | ||||||||||||||||
The following table presents health care cost trend rates used to determine net periodic postretirement benefit cost, as well as information regarding the ultimate rate and the year in which their ultimate rate is reached: | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
United States plans | |||||||||||||||||||
Initial rate at end of year | 7.00% | 7.00% | 7.00% | ||||||||||||||||
Ultimate rate | 5.00% | 5.00% | 5.00% | ||||||||||||||||
Year in which ultimate rate is reached | 2023 | 2022 | 2021 | ||||||||||||||||
Non-United States plans | |||||||||||||||||||
Initial rate at end of year | 6.23% | 6.50% | 6.80% | ||||||||||||||||
Ultimate rate | 4.79% | 4.80% | 4.80% | ||||||||||||||||
Year in which ultimate rate is reached | 2019 | 2019 | 2019 | ||||||||||||||||
The health care cost trend rate assumption can have a significant effect on the amounts reported. To illustrate, a one-percentage point change in the December 31, 2013 assumed health care cost trend rate would have the following effects (in millions): | |||||||||||||||||||
1-Percentage Point | |||||||||||||||||||
Increase | Decrease | ||||||||||||||||||
Increase (decrease) in total service cost and interest cost components of net | |||||||||||||||||||
periodic postretirement benefit cost | $ | 1 | $ | - | |||||||||||||||
Increase (decrease) of accumulated postretirement benefit obligation | $ | 9 | $ | -8 | |||||||||||||||
Accumulated Other Comprehensive Earnings (Deficit) | |||||||||||||||||||
For the year ended December 31, 2013, the Company recorded other comprehensive income of $7 million, net of tax, to OCI. Approximately $6 million of the $51 million balance in accumulated OCI is expected to be recognized as net periodic postretirement benefit during 2014. For the year ended December 31, 2012, the Company recorded other comprehensive income of $14 million, net of tax, to OCI. | |||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||
The following table shows estimated future benefit payments from the Company's postretirement benefit plans (in millions): | |||||||||||||||||||
Year | Estimated Benefit Payments | ||||||||||||||||||
2014 | $ | 21 | |||||||||||||||||
2015 | $ | 21 | |||||||||||||||||
2016 | $ | 21 | |||||||||||||||||
2017 | $ | 21 | |||||||||||||||||
2018 | $ | 20 | |||||||||||||||||
2019-2023 | $ | 92 | |||||||||||||||||
Postemployment Benefits | |||||||||||||||||||
The Company may also provide benefits to former or inactive employees after employment but before retirement under certain conditions. These benefits include continuation of benefits such as health care and life insurance coverage. The accrued postemployment benefits liability at December 31, 2013 and 2012 was $18 million and $22 million, respectively. The net periodic postemployment benefit expense was $1 million for each of the years ended December 31, 2013, 2012 and 2011, respectively. |
CONTINGENT_LIABILITIES_AND_OTH
CONTINGENT LIABILITIES AND OTHER MATTERS | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
CONTINGENT LIABILITIES AND OTHER MATTERS TEXT BLOCK | ' |
19. CONTINGENT LIABILITIES AND OTHER MATTERS | |
The Company is involved in various legal proceedings relating to employment, product liability and other matters (collectively, “Proceedings”). The Company regularly reviews the status of such Proceedings along with legal counsel. Liabilities for such Proceedings are recorded when it is probable that the liability has been incurred and when the amount of the liability can be reasonably estimated. Liabilities are adjusted when additional information becomes available. Management believes that the amount of any reasonably possible losses in excess of any amounts accrued, if any, with respect to such Proceedings or any other know claim, including the matters described below under the caption Environmental Matters (the “Environmental Matters”) will not be material to the Company's financial statements. Management believes that the ultimate disposition of the Proceedings and the Environmental Matters will not have a material adverse effect on the Company's operations or financial condition taken as a whole. | |
Litigation | |
The Company has nothing to report under this item. | |
Environmental Matters | |
We have been deemed by the United States Environmental Protection Agency to be a Potentially Responsible Party (“PRP”) with respect to certain sites under the Comprehensive Environmental Response Compensation and Liability Act. We have also been deemed a PRP under similar state or local laws and in other instances other PRPs have brought suits against us as a PRP for contribution under such federal, state, or local laws. At December 31, 2013, we had environmental remediation liabilities as a PRP at 20 sites where we have a continuing legal obligation to either complete remedial actions or contribute to the completion of remedial actions as part of a group of PRPs. For these sites we estimate a reserve to reflect environmental liabilities that have been asserted or are probable of assertion, in which liabilities are probable and reasonably estimable. At December 31, 2013, our reserve for such liabilities was $5 million. | |
Kearny, New Jersey Manufacturing Facility | |
During the week of October 29, 2012, the Company experienced a flood at its Kearny, New Jersey manufacturing facility as a result of Hurricane Sandy. This facility is insured for property damage and business interruption losses related to such events, subject to deductibles and policy limits. In December of 2013, the Company settled its insurance claims for a net $78 million. Our Roofing facility returned to full operating capacity in the third quarter of 2013 and the Company anticipates an additional $6 million in charges to be taken in 2014 related to final repairs at our Asphalt facility. The proceeds received on settlement will substantially cover all costs/losses incurred. | |
For the year ended December 31, 2013, the Company incurred losses related to clean up activities and business interruption in the amount of $27 million reported in Costs of Sales, and $16 million reported in Other expenses (income), net, on the Consolidated Statements of Earnings. These expenses were more than offset by the $58 million of insurance proceeds recorded in Other expenses (income), net on the Consolidated Statements of Earnings. | |
For the year ended December 31, 2012, the Company incurred losses related to clean up activities and business interruption in the amount of $6 million reported in Costs of Sales, and $23 million reported in Other expenses (income), net, on the Consolidated Statements of Earnings, partially offset by $20 million of insurance proceeds recorded in Other expenses (income), net on the Consolidated Statements of Earnings. | |
STOCK_COMPENSATION
STOCK COMPENSATION | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
STOCK COMPENSATION | ' | ||||||||||||||||||
20. STOCK COMPENSATION | |||||||||||||||||||
2013 Stock Plan | |||||||||||||||||||
On April 18, 2013, the Company's stockholders approved the Owens Corning 2013 Stock Plan (the “2013 Stock Plan”) which replaced the 2010 Stock Plan. The 2013 Stock Plan authorizes grants of stock options, stock appreciation rights, restricted stock awards, restricted stock units, bonus stock awards and performance stock awards. Under the 2013 Stock Plan, 1.5 million shares of common stock may be granted in addition to the shares of Company common stock that rolled over from the 2010 Stock Plan as of April 18, 2013. Such shares of common stock include shares that were available but not granted, or which were granted but were not issued or delivered due to expiration, termination, cancellation or forfeiture of such awards. There will be no future grants made under the 2010 Stock Plan. At December 31, 2013 the number of shares remaining available under the 2013 Stock Plan for all stock awards was 3.4 million. | |||||||||||||||||||
The following table summarizes the Company's stock option activity: | |||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||
Number of Options | Weighted-Average Exercise Price | Number of Options | Weighted-Average Exercise Price | Number of Options | Weighted-Average Exercise Price | ||||||||||||||
Beginning Balance | 3,025,220 | $ | 27.78 | 3,293,545 | $ | 26.26 | 3,397,858 | $ | 25.06 | ||||||||||
Granted | 329,800 | 42.16 | 409,700 | 33.73 | 412,200 | 33.98 | |||||||||||||
Exercised | -549,800 | 26.88 | -520,120 | 22.65 | -374,738 | 25.78 | |||||||||||||
Forfeited | -56,500 | 34.58 | -157,905 | 28.48 | -141,775 | 21.19 | |||||||||||||
Ending Balance | 2,748,720 | $ | 29.55 | 3,025,220 | $ | 27.78 | 3,293,545 | $ | 26.26 | ||||||||||
The following table summarizes information about the Company's options outstanding and exercisable: | |||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Weighted-Average | Number Exercisable at Dec. 31, 2013 | Weighted-Average | |||||||||||||||||
Range of Exercise Prices | Options Outstanding | Remaining Contractual Life | Exercise Price | Remaining Contractual Life | Exercise Price | ||||||||||||||
$13.89 - $42.16 | 2,748,720 | 5.35 | $ | 29.55 | 1,939,145 | 4.2 | $ | 26.75 | |||||||||||
Restricted Stock Awards and Restricted Stock Units | |||||||||||||||||||
The Company has granted restricted stock awards and restricted stock units (collectively referred to as “restricted stock”) under its stockholder approved stock plans. Compensation expense for restricted stock is measured based on the market price of the stock at date of grant and is recognized on a straight-line basis over the four year vesting period. Stock restrictions are subject to alternate vesting plans for death, disability, approved early retirement and involuntary termination, over various periods ending in 2015. | |||||||||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company recognized expense of $16 million, $15 million and $13 million respectively, related to the Company's restricted stock. As of December 31, 2013, there was $25 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.59 years. The total grant date fair value of shares vested during the years ended December 31, 2013, 2012 and 2011, was $16 million, $12 million and $9 million, respectively. | |||||||||||||||||||
A summary of the status of the Company's plans that had restricted stock issued as of December 31, 2013, 2012 and 2011 and changes during the twelve months ended December 31, 2013, 2012 and 2011 are presented below: | |||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||
Number of Shares | Weighted-Average Grant Date Fair Value | Number of Shares | Weighted-Average Grant Date Fair Value | Number of Shares | Weighted-Average Grant Date Fair Value | ||||||||||||||
Beginning Balance | 1,875,065 | $ | 27.14 | 1,941,742 | $ | 23.83 | 1,987,705 | $ | 19.74 | ||||||||||
Granted | 512,398 | 41.01 | 638,618 | 33.43 | 565,982 | 33.47 | |||||||||||||
Vested | -573,920 | 26 | -544,528 | 22.38 | -476,650 | 18.82 | |||||||||||||
Forfeited | -77,719 | 34.62 | -160,767 | 28.36 | -135,295 | 21.67 | |||||||||||||
Ending Balance | 1,735,824 | $ | 32.49 | 1,875,065 | $ | 27.14 | 1,941,742 | $ | 23.83 | ||||||||||
Performance Stock Awards and Performance Stock Units | |||||||||||||||||||
The Company has granted performance stock awards and performance stock units (collectively referred to as “PSUs”) as a part of its long-term incentive plan. Outstanding grants issued in 2013 will be fully settled in stock and outstanding grants issued in 2011 and 2012 will be settled 50 percent in stock and 50 percent in cash. The amount of the stock and/or cash ultimately distributed is contingent on meeting various company or stockholder return goals. | |||||||||||||||||||
Compensation expense for PSUs settled in stock is measured based on the grant date fair value and is recognized on a straight-line basis over the vesting period. Compensation expense for PSUs settled in cash is measured based on the fair value at the end of each quarter and is recognized on a straight-line basis over the vesting period. Vesting will be pro-rated based on the number of full months employed during the performance period in the case of death, disability, change in control or involuntary termination, and pro-rated awards earned will be paid at the end of the three-year period. | |||||||||||||||||||
During 2013, 2012, and 2011, the Company granted PSUs. The 2013, 2012, and 2011 grants vest after a three-year period based on the Company's total stockholder return relative to the performance of the components of the S&P 500 Index for the respective three-year period. The amount of PSUs earned will vary from 0% to 200% of PSUs awarded depending on the relative stockholder return performance. | |||||||||||||||||||
For all PSUs, respectively, during the period ended December 31, 2013, 2012 and 2011, the Company recognized expense of $7 million, $13 million and $7 million. As of December 31, 2013, there was $11 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.7 years. The total grant date fair value of shares vested during the years ended December 31, 2013, 2012 and 2011, was $9 million, $11 million and $19 million, respectively. P1Y8M12D | |||||||||||||||||||
2013 Grant | |||||||||||||||||||
For the 2013 grant, the fair value of the portion of PSUs settled in stock was estimated at the grant date using a Monte Carlo simulation that used various assumptions that include expected volatility of 36.7% ,a risk free interest rate of 0.4% and an expected term of 2.9 years. Expected volatility was based on a benchmark study of our peers. The risk-free interest rate was based on zero coupon United States Treasury bills at the grant date. The expected term represents the period from the grant date to the end of the three-year performance period. P2Y10M24D | |||||||||||||||||||
2012 Grant | |||||||||||||||||||
For the 2012 grant, the portion of the PSUs settled in cash will be revalued every reporting period until the award is fully vested. As a result, compensation expense recognized will be adjusted and previous surplus compensation expense recognized will be reversed or additional expense will be recognized. For the period ended December 31, 2012, the Company estimated the fair value of the cash PSUs granted using a Monte Carlo simulation that used various assumptions that include expected volatility of 25.73%, a risk free rate of 0.2% and an expected term of 1.00 year. Expected volatility was based on a benchmark study of our peers. The risk-free interest rate was based on zero coupon United States Treasury bills at the time of revaluation. The expected term represents the period beginning December 31, 2013 to the end of the three-year performance period. P1Y0M0D | |||||||||||||||||||
For the 2012 grant, the fair value of the portion of PSUs settled in stock was estimated at the grant date using a Monte Carlo simulation that used various assumptions that include expected volatility of 48.2% ,a risk free interest rate of 0.3% and an expected term of 2.91 years. Expected volatility was based on a benchmark study of our peers. The risk-free interest rate was based on zero coupon United States Treasury bills at the grant date. The expected term represents the period from the grant date to the end of the three-year performance period. P2Y10M28D | |||||||||||||||||||
2011 Grant | |||||||||||||||||||
For the 2011 grant, the portion of the PSUs settled in cash is revalued every reporting period until the award is fully vested. As a result, compensation expense recognized will be adjusted and previous surplus compensation expense recognized will be reversed or additional expense will be recognized. For the period ended December 31, 2012, the Company estimated the fair value of the PSUs settled in cash using a Monte Carlo simulation that used various assumptions that include expected volatility of 24.84% ,a risk-free interest rate of 0% and an expected term of 0 years, which is the remaining life of the grant. Expected volatility was based on a benchmark study of our peers. The risk-free interest rate was based on zero coupon United States Treasury bills at the time of revaluation. The expected term represents the period beginning December 31, 2013 to the end of the three-year performance period. P0Y0M0D | |||||||||||||||||||
For the 2011 grant, the fair value of the portion of PSUs settled in stock was estimated at the grant date using a Monte Carlo simulation that used various assumptions that include expected volatility of 57.2% ,a risk-free interest rate of 1.1% and an expected term of 2.9 years, which was the remaining life of the grant. Expected volatility was based on a benchmark study of our peers. The risk-free interest rate was based on zero coupon United States Treasury bills at the grant date. The expected term represents the period from the grant date to the end of the three-year performance period. | |||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||
Number of PSUs | Weighted-Average Grant Date Fair Value | Number of PSUs | Weighted-Average Grant Date Fair Value | Number of PSUs | Weighted-Average Grant Date Fair Value | ||||||||||||||
Beginning Balance | 412,910 | $ | 49.14 | 508,616 | $ | 42.24 | 754,603 | $ | 19.66 | ||||||||||
Granted | 207,050 | 56.71 | 256,400 | 47.97 | 354,564 | 48.61 | |||||||||||||
Vested | -167,610 | 48.61 | -260,580 | 36.52 | -526,608 | 16.45 | |||||||||||||
Forfeited/cancelled | -41,850 | 50.39 | -91,526 | 43.45 | -73,943 | 25.98 | |||||||||||||
Ending Balance | 410,500 | $ | 53.04 | 412,910 | $ | 49.14 | 508,616 | $ | 42.24 | ||||||||||
2013 Employee Stock Purchase Plan | |||||||||||||||||||
On April 18, 2013, the Company's stockholders approved the Owens Corning Employee Stock Purchase Plan (“ESPP”). The ESPP is a tax qualified plan under Section 423 of the Internal Revenue Code. The purchase price of shares purchased under the ESPP is equal to 85% of the lower of the fair market value of shares of Owens Corning common stock at the beginning or ending of the offering period, which is a six month period ending on May 31 and November 30 of each year. There are 2 million shares available for purchase under the ESPP as of its approval date. During the year ended December 31, 2013, the Company recognized expense of $1 million, related to the company's ESPP. For the year ended December 31, 2013, our employees purchased 0.1 million shares at an average price of $33.29. Under the outstanding ESPP as of February 9, 2014, employees have contributed $1 million to purchase shares at 85% of the stock's fair market value on the lower of the December 2nd, 2013 or May 31st 2014 stock price for the current purchase period. The company has $1 million of total unrecognized compensation cost related to the ESPP. |
CHANGES_IN_ACCUMULATED_OTHER_C
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | |||||||||||
ComprehensiveIncomeNoteTextBlock | ' | |||||||||||
21. ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||||
A summary of the balances within each classification of accumulated OCI (deficit) as of December 31, 2013 and 2012 | ||||||||||||
Cash Flow Hedge Activity | Defined Benefit Pension Plan Activity | OCI Valuation Allowance activity | Foreign Currency Translation Adjustment | Total | ||||||||
Balance as of December 31, 2011, net of tax | $ | -3 | $ | -226 | $ | -111 | $ | 25 | $ | -315 | ||
Amounts classified into AOCI, net of tax | $ | 2 | $ | -140 | $ | -3 | $ | 5 | $ | -136 | ||
Amounts reclassified from AOCI, net of tax | 0 | 87 | 0 | 0 | 87 | |||||||
Change in AOCI, net of tax | 2 | -53 | -3 | 5 | -49 | |||||||
Balance as of December 31, 2012, net of tax | $ | -1 | $ | -279 | $ | -114 | $ | 30 | $ | -364 | ||
Amounts classified into AOCI, net of tax | $ | 1 | $ | 15 | $ | -1 | $ | -28 | $ | -13 | ||
Amounts reclassified from AOCI, net of tax | 0 | 80 | 0 | 0 | 80 | |||||||
Change in AOCI, net of tax | 1 | 95 | -1 | -28 | 67 | |||||||
Balance as of December 31, 2013, net of tax | $ | 0 | $ | -184 | $ | -115 | $ | 2 | $ | -297 | ||
WARRANTS
WARRANTS | 12 Months Ended |
Dec. 31, 2013 | |
Warrants and Rights Note Disclosure [Abstract] | ' |
Warrants or Rights Outstanding [Text Block] | ' |
22. WARRANTS | |
The Company issued 17.5 million Series A warrants (representing the right to purchase one share of the Company's common stock for $43.00) and 7.8 million Series B warrants (representing the right to purchase one share of the Company's common stock for $45.25) on October 31, 2006, all of which expired on October 31, 2013 and are no longer outstanding as of December 31, 2013. |
EARNINGS_LOSS_PER_SHARE
EARNINGS (LOSS) PER SHARE | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Earnings Per Share Abstract | ' | ||||||||||||||||||||
EARNINGS (LOSS) PER SHARE | ' | ||||||||||||||||||||
23. EARNINGS PER SHARE | |||||||||||||||||||||
The following table summarizes the number of shares outstanding as well as our basic and diluted earnings per share for the years ended December 31, 2013, 2012 and 2011 (in millions, except per share amounts): | |||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||
Dec. 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net earnings (loss) attributable to Owens Corning | $ | 204 | $ | -19 | $ | 276 | |||||||||||||||
Weighted-average number of shares outstanding used for | |||||||||||||||||||||
basic earnings per share | 118.2 | 119.4 | 122.5 | ||||||||||||||||||
Non-vested restricted and performance shares | 0.4 | - | 0.7 | ||||||||||||||||||
Options to purchase common stock | 0.5 | - | 0.3 | ||||||||||||||||||
Weighted-average number of shares outstanding and common | |||||||||||||||||||||
equivalent shares used for diluted earnings per share | 119.1 | 119.4 | 123.5 | ||||||||||||||||||
Earnings (loss) per common share attributable to Owens Corning common | |||||||||||||||||||||
stockholders: | |||||||||||||||||||||
Basic | $ | 1.73 | $ | -0.16 | $ | 2.25 | |||||||||||||||
Diluted | $ | 1.71 | $ | -0.16 | $ | 2.23 |
FAIR_VALUE_MEASUREMENT
FAIR VALUE MEASUREMENT | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||
24. FAIR VALUE MEASUREMENT | ||||||||||||
Items Measured at Fair Value | ||||||||||||
The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: | ||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | ||||||||||||
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. | ||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | ||||||||||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of December 31, 2013 (in millions): | ||||||||||||
Total Measured at Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||
Assets: | ||||||||||||
Cash equivalents | $ | 20 | $ | 20 | $ | - | $ | - | ||||
Term deposits | 2 | 2 | ||||||||||
Derivative assets | 1 | - | 1 | - | ||||||||
Total assets | $ | 23 | $ | 22 | $ | 1 | $ | - | ||||
Liabilities: | ||||||||||||
Derivative liabilities | $ | -4 | $ | - | $ | -4 | $ | - | ||||
Total liabilities | $ | -4 | $ | - | $ | -4 | $ | - | ||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of December 31, 2012 (in millions): | ||||||||||||
Total Measured at Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||
Assets: | ||||||||||||
Cash equivalents | $ | 1 | $ | 1 | $ | - | $ | - | ||||
Term deposits | 1 | 1 | - | |||||||||
Derivative assets | 1 | - | 1 | - | ||||||||
Total assets | $ | 3 | $ | 2 | $ | 1 | $ | - | ||||
Liabilities: | ||||||||||||
Derivative liabilities | $ | -4 | $ | - | $ | -4 | $ | - | ||||
Total liabilities | $ | -4 | $ | - | $ | -4 | $ | - | ||||
Cash equivalents, by their nature, utilize Level 1 inputs in determining fair value. The Company measures the value of its natural gas hedge contracts and foreign currency forward contracts using Level 2 inputs. The fair value of the Company's natural gas hedges is determined by a mark to market valuation based on forward curves using observable market prices and the fair value of its foreign currency forward contracts is determined using observable market transactions in over-the-counter markets. |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
INCOME TAXES | ' | ||||||||||||
25. INCOME TAXES | |||||||||||||
Twelve Months Ended | |||||||||||||
Dec. 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Earnings before taxes: | |||||||||||||
United States | $ | 196 | $ | 31 | $ | 202 | |||||||
Foreign | 77 | -71 | 151 | ||||||||||
Total | $ | 273 | $ | -40 | $ | 353 | |||||||
Income tax expense (benefit): | |||||||||||||
Current | |||||||||||||
United States | $ | -2 | $ | 1 | $ | -14 | |||||||
State and local | -2 | -2 | 2 | ||||||||||
Foreign | 30 | 20 | 28 | ||||||||||
Total current | 26 | 19 | 16 | ||||||||||
Deferred | |||||||||||||
United States | 56 | -22 | 61 | ||||||||||
State and local | 2 | 2 | 7 | ||||||||||
Foreign | -16 | -27 | -10 | ||||||||||
Total deferred | 42 | -47 | 58 | ||||||||||
Total income tax expense (benefit) | $ | 68 | $ | -28 | $ | 74 | |||||||
The reconciliation between the United States federal statutory rate and the Company's effective income tax rate from continuing operations is: | |||||||||||||
Twelve Months Ended | |||||||||||||
Dec. 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States federal statutory rate | 35 | % | -35 | % | 35 | % | |||||||
State and local income taxes, net of federal tax benefit | 2 | -5 | 2 | ||||||||||
Foreign tax rate differential | -11 | -60 | -10 | ||||||||||
US tax expense/benefit on foreign earnings/loss | -2 | -62 | -1 | ||||||||||
Valuation allowance | 17 | 127 | 2 | ||||||||||
Loss on liquidation | -10 | - | - | ||||||||||
Uncertain tax positions and settlements | -1 | -2 | -3 | ||||||||||
Other, net | -5 | -33 | -4 | ||||||||||
Effective tax rate | 25 | % | -70 | % | 21 | % | |||||||
The cumulative temporary differences giving rise to the deferred tax assets and liabilities at December 31, 2013 and 2012 are as follows (in millions): | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred Tax Assets | Deferred Tax Liabilities | Deferred Tax Assets | Deferred Tax Liabilities | ||||||||||
Other employee benefits | $ | 153 | $ | - | $ | 160 | $ | - | |||||
Pension plans | 115 | - | 161 | - | |||||||||
Operating loss carryforwards | 1,117 | - | 1,080 | - | |||||||||
Depreciation | - | 338 | - | 332 | |||||||||
Amortization | - | 370 | - | 373 | |||||||||
State and local taxes | 6 | - | 5 | - | |||||||||
Other | 135 | - | 173 | - | |||||||||
Subtotal | 1,526 | 708 | 1,579 | 705 | |||||||||
Valuation allowances | -270 | - | -228 | - | |||||||||
Total deferred taxes | $ | 1,256 | $ | 708 | $ | 1,351 | $ | 705 | |||||
The Company had current deferred tax assets of $138 million and $80 million which are included in other current assets in the | |||||||||||||
Consolidated Balance Sheets as of December 31, 2013 and 2012, respectively. | |||||||||||||
At December 31, 2013, the Company had federal, state and foreign net operating loss carryforwards of $2.2 billion, $2.5 billion and $944 million, respectively. In order to fully utilize our operating loss and tax credit carryforwards, the Company will need to generate federal, state, and foreign earnings before taxes of approximately $2.7 billion, $2.8 billion, and $944 million, respectively. Certain of these loss carryforwards are subject to limitation as a result of the changes of control that resulted from the Company's emergence from bankruptcy in 2006 and the acquisition of certain foreign entities in 2007. However, the Company believes that these limitations on its loss carryforwards will not result in a forfeiture of any of the carryforwards. | |||||||||||||
Deferred income taxes are provided for temporary differences between amounts of assets and liabilities for financial reporting purposes and the basis of such assets and liabilities as measured under enacted tax laws and regulations, as well as NOLs, tax credit and other carryforwards. A valuation allowance will be recorded to reduce deferred tax assets if, based on all available evidence, it is considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. To the extent the reversal of deferred tax liabilities is relied upon in our assessment of the realizability of deferred tax assets, they will reverse in the same period and jurisdiction as the temporary differences giving rise to the deferred tax assets. As of December 31, 2013, the Company had federal, state, and foreign net deferred tax assets before valuation allowances of $485 million, $59 million, and $274 million, respectively. | |||||||||||||
The valuation allowance of $270 million as of December 31, 2013 related to tax assets of $12 million and $258 million for certain state and foreign jurisdictions, respectively. The valuation allowance of $228 million as of December 31, 2012 related to tax assets of $14 million and $214 million for certain state and foreign jurisdictions, respectively. | |||||||||||||
The Company, or one of its subsidiaries, files income tax returns in the United States and other foreign jurisdictions. The Company is no longer subject to U.S. federal tax examinations for years before 2008 or state and foreign examinations for years before 2001. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the gross unrecognized tax benefits balance may change within the next 12 months by a range of zero to $49 million. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions): | |||||||||||||
Twelve Months Ended | |||||||||||||
Dec. 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 161 | $ | 170 | $ | 210 | |||||||
Tax positions related to the current year | |||||||||||||
Gross additions | 2 | 12 | 8 | ||||||||||
Tax positions related to prior years | |||||||||||||
Gross additions | 4 | 7 | 6 | ||||||||||
Gross reductions | -1 | -14 | -46 | ||||||||||
Settlements | -3 | -13 | -7 | ||||||||||
Lapses on statutes of limitations | -8 | -1 | -1 | ||||||||||
Balance at end of period | $ | 155 | $ | 161 | $ | 170 | |||||||
The Company classifies all interest and penalties as income tax expense. As of December 31, 2013, 2012 and 2011, the Company recognized $6 million, $10 million and $13 million respectively, in liabilities for tax related interest and penalties on its Consolidated Balance Sheets and $(3) million, $(3) million and $(15) million, respectively, of interest and penalty expense on its Consolidated Statements of Earnings (Loss). If these unrecognized tax benefits were to be recognized as of December 31, 2013, the Company's income tax expense would decrease by about $128 million. |
QUARTERLY_FINANCIAL_INFORMATIO
QUARTERLY FINANCIAL INFORMATION | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||
26. QUARTERLY FINANCIAL INFORMATION (unaudited) | ||||||||||||||||
Select quarterly financial information is presented in the tables below for the quarterly periods of 2013 and 2012, respectively (in millions, except per share amounts): | ||||||||||||||||
Quarter | ||||||||||||||||
2013 | First | Second | Third | Fourth | ||||||||||||
Net sales | $ | 1,350 | $ | 1,347 | $ | 1,320 | $ | 1,278 | ||||||||
Cost of sales | 1,137 | 1,080 | 1,067 | 1,045 | ||||||||||||
Gross margin | 213 | 267 | 253 | 233 | ||||||||||||
Earnings before interest and taxes | 57 | 118 | 106 | 104 | ||||||||||||
Interest expense, net | 29 | 29 | 29 | 25 | ||||||||||||
Income tax expense (benefit) | 6 | 39 | 26 | -3 | ||||||||||||
Net earnings attributable to Owens Corning | $ | 22 | $ | 49 | $ | 51 | $ | 82 | ||||||||
BASIC EARNINGS PER COMMON SHARE | ||||||||||||||||
ATTRIBUTABLE TO OWENS CORNING | ||||||||||||||||
COMMON STOCKHOLDERS | $ | 0.19 | $ | 0.41 | $ | 0.43 | $ | 0.7 | ||||||||
DILUTED EARNINGS PER COMMON SHARE | ||||||||||||||||
ATTRIBUTABLE TO OWENS CORNING | ||||||||||||||||
COMMON STOCKHOLDERS | $ | 0.18 | $ | 0.41 | $ | 0.43 | $ | 0.69 | ||||||||
Quarter | ||||||||||||||||
2012 | First | Second | Third | Fourth | ||||||||||||
Net sales | $ | 1,346 | $ | 1,391 | $ | 1,276 | $ | 1,159 | ||||||||
Cost of sales | 1,160 | 1,152 | 1,074 | 989 | ||||||||||||
Gross margin | 186 | 239 | 202 | 170 | ||||||||||||
Earnings (loss) before interest and taxes | -12 | 85 | 59 | 16 | ||||||||||||
Interest expense, net | 28 | 28 | 29 | 29 | ||||||||||||
Income tax expense | 5 | 17 | -14 | -36 | ||||||||||||
Net earnings (loss) attributable to Owens Corning | $ | -46 | $ | 39 | $ | 44 | $ | -56 | ||||||||
BASIC EARNINGS (LOSS) PER COMMON SHARE | ||||||||||||||||
ATTRIBUTABLE TO OWENS CORNING | ||||||||||||||||
COMMON STOCKHOLDERS | $ | -0.38 | $ | 0.32 | $ | 0.37 | $ | -0.47 | ||||||||
DILUTED EARNINGS (LOSS) PER COMMON SHARE | ||||||||||||||||
ATTRIBUTABLE TO OWENS CORNING | ||||||||||||||||
COMMON STOCKHOLDERS | $ | -0.38 | $ | 0.32 | $ | 0.37 | $ | -0.47 | ||||||||
During the first, second, third and fourth quarter 2012, the Company recorded additional pre-tax income (expense) of ($4) million ($3 million after tax expense), $1 million ($1 million after tax expense), ($7) million ($3 million after tax expense), and ($3) million ($2 million after tax expense) respectively; related to prior periods. The effect was not material to previously issued financial statements. |
CONDENSED_CONSOLIDATED_FINANCI
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
27. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following Condensed Consolidating Financial Statements present the financial information required with respect to those entities which guarantee certain of the Company's debt. The Condensed Consolidating Financial Statements are presented on the equity method. Under this method, the investments in subsidiaries are recorded at cost and adjusted for the Company's share of the subsidiaries' cumulative results of operations, capital contributions, distributions and other equity changes. The principal elimination entries eliminate investment in subsidiaries and intercompany balances and transactions. | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2012 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantor and Nonguarantor Financial Statements | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The Senior Notes and the Senior Revolving Credit Facility are guaranteed, fully, unconditionally and jointly and severally, by each of Owens Corning's current and future 100% owned material domestic subsidiaries that is a borrower or a guarantor under Owens Corning's Credit Agreement, which permits changes to the named guarantors in certain situations (collectively, the “Guarantor Subsidiaries”). The remaining subsidiaries have not guaranteed the Senior Notes and the Senior Revolving Credit Facility (collectively, the “Nonguarantor Subsidiaries”). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) | NET SALES | $ | - | $ | 3,616 | $ | 1,932 | $ | -376 | $ | 5,172 | NET SALES | $ | - | $ | 3,641 | $ | 2,018 | $ | -324 | $ | 5,335 | ||||||||||||||||||||||||||||||||
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 | COST OF SALES | -9 | 3,015 | 1,745 | -376 | 4,375 | COST OF SALES | -23 | 3,015 | 1,639 | -324 | 4,307 | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | Gross margin | 9 | 601 | 187 | - | 797 | Gross margin | 23 | 626 | 379 | - | 1,028 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING EXPENSES | OPERATING EXPENSES | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Marketing and administrative expenses | 112 | 259 | 138 | - | 509 | Marketing and administrative expenses | 67 | 314 | 144 | - | 525 | ||||||||||||||||||||||||||||||||||||||
NET SALES | $ | - | $ | 3,730 | $ | 1,988 | $ | -423 | $ | 5,295 | Science and technology expenses | - | 61 | 18 | - | 79 | Science and technology expenses | - | 61 | 16 | - | 77 | ||||||||||||||||||||||||||||||||
COST OF SALES | -10 | 3,085 | 1,677 | -423 | 4,329 | Charges related to cost reduction actions | - | 51 | - | 51 | Other expenses (income), net | -88 | 15 | 38 | - | -35 | ||||||||||||||||||||||||||||||||||||||
Gross margin | 10 | 645 | 311 | - | 966 | Other expenses (income) | -37 | 24 | 23 | - | 10 | Total operating expenses | -21 | 390 | 198 | - | 567 | |||||||||||||||||||||||||||||||||||||
OPERATING EXPENSES | Total operating expenses | 75 | 344 | 230 | - | 649 | EARNINGS BEFORE INTEREST AND TAXES | 44 | 236 | 181 | - | 461 | ||||||||||||||||||||||||||||||||||||||||||
Marketing and administrative expenses | 123 | 267 | 140 | - | 530 | EARNINGS BEFORE INTEREST AND TAXES | -66 | 257 | -43 | - | 148 | Interest expense, net | 105 | -3 | 6 | - | 108 | |||||||||||||||||||||||||||||||||||||
Science and technology expenses | - | 58 | 19 | - | 77 | Interest expense, net | 102 | 2 | 10 | - | 114 | EARNINGS (LOSS) BEFORE TAXES | -61 | 239 | 175 | - | 353 | |||||||||||||||||||||||||||||||||||||
Charges related to cost reduction actions | - | - | 8 | - | 8 | Loss on extinguishment of debt | 74 | 74 | Less: Income tax expense (benefit) | -23 | 72 | 25 | - | 74 | ||||||||||||||||||||||||||||||||||||||||
Other expenses (income), net | -27 | -39 | 32 | - | -34 | EARNINGS (LOSS) BEFORE TAXES | -242 | 255 | -53 | - | -40 | EARNINGS (LOSS) BEFORE EQUITY IN NET EARNINGS | ||||||||||||||||||||||||||||||||||||||||||
Total operating expenses | 96 | 286 | 199 | - | 581 | Less: Income tax expense (benefit) | -92 | 64 | - | - | -28 | OF SUBSIDIARIES AND AFFILIATES | -38 | 167 | 150 | - | 279 | |||||||||||||||||||||||||||||||||||||
EARNINGS BEFORE INTEREST AND TAXES | -86 | 359 | 112 | - | 385 | EARNINGS (LOSS) BEFORE EQUITY IN NET | Equity in net earnings of subsidiaries | 314 | 149 | - | -463 | - | ||||||||||||||||||||||||||||||||||||||||||
Interest expense, net | 104 | 2 | 6 | - | 112 | EARNINGS (LOSS) OF SUBSIDIARIES AND | Equity in net earnings (loss) of affiliates | - | -2 | 4 | - | 2 | ||||||||||||||||||||||||||||||||||||||||||
EARNINGS (LOSS) BEFORE TAXES | -190 | 357 | 106 | - | 273 | AFFILIATES | -150 | 191 | -53 | - | -12 | NET EARNINGS (LOSS) | 276 | 314 | 154 | -463 | 281 | |||||||||||||||||||||||||||||||||||||
Less: Income tax expense (benefit) | -72 | 121 | 19 | - | 68 | Equity in net earnings of subsidiaries | 131 | -55 | - | -76 | - | Less: Net earnings attributable to noncontrolling interest | - | - | 5 | - | 5 | |||||||||||||||||||||||||||||||||||||
EARNINGS (LOSS) BEFORE EQUITY IN NET EARNINGS | Equity in net earnings (loss) of affiliates | - | -5 | 1 | - | -4 | NET EARNINGS (LOSS) ATTRIBUTABLE TO | |||||||||||||||||||||||||||||||||||||||||||||||
OF SUBSIDIARIES AND AFFILIATES | -118 | 236 | 87 | - | 205 | NET EARNINGS (LOSS) | -19 | 131 | -52 | -76 | -16 | OWENS CORNING | $ | 276 | $ | 314 | $ | 149 | $ | -463 | $ | 276 | ||||||||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | 322 | 86 | - | -408 | - | Less: Net earnings attributable to noncontrolling interest | - | - | 3 | - | 3 | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||
Equity in net earnings of affiliates | - | - | - | - | 1 | - | NET EARNINGS (LOSS) ATTRIBUTABLE TO | CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS | ||||||||||||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) | 204 | 322 | 87 | -408 | 205 | OWENS CORNING | $ | -19 | $ | 131 | $ | -55 | $ | -76 | $ | -19 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 | |||||||||||||||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | - | - | 1 | - | 1 | OWENS CORNING AND SUBSIDIARIES | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) ATTRIBUTABLE TO | CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING | $ | 204 | $ | 322 | $ | 86 | $ | -408 | $ | 204 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2012 | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | (in millions) | NET EARNINGS (LOSS) | $ | 276 | $ | 314 | $ | 154 | $ | -463 | $ | 281 | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS (LOSS) | Currency translation adjustment | -39 | - | - | - | -39 | ||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Pension and other postretirement adjustment (net of tax) | -80 | - | - | - | -80 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | NET EARNINGS (LOSS) | $ | -19 | $ | 131 | $ | -52 | $ | -76 | $ | -16 | Deferred income (loss) on hedging (net of tax) | -2 | - | - | - | -2 | |||||||||||||||||||||||||||||||||||||
Currency translation adjustment | 5 | - | - | - | 5 | COMPREHENSIVE EARNINGS (LOSS) | 155 | 314 | 154 | -463 | 160 | |||||||||||||||||||||||||||||||||||||||||||
Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Pension and other postretirement adjustment (net of tax) | -56 | - | - | - | -56 | Less: Comprehensive earnings attributable to noncontrolling interests | - | - | 5 | - | 5 | ||||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) | $ | 204 | $ | 322 | $ | 87 | $ | -408 | $ | 205 | Deferred income (loss) on hedging (net of tax) | 2 | - | - | - | 2 | COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING | $ | 155 | $ | 314 | $ | 149 | $ | -463 | $ | 155 | |||||||||||||||||||||||||||
Currency translation adjustment | -28 | - | - | - | -28 | COMPREHENSIVE EARNINGS (LOSS) | -68 | 131 | -52 | -76 | -65 | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||
Pension and other postretirement adjustment (net of tax) | 94 | - | - | - | 94 | Less: Comprehensive earnings attributable to noncontrolling interests | - | - | 3 | - | 3 | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||
Deferred income (loss) on hedging (net of tax) | 1 | - | - | - | 1 | COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING | $ | -68 | $ | 131 | $ | -55 | $ | -76 | $ | -68 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 | |||||||||||||||||||||||||||||||||||||
COMPREHENSIVE EARNINGS (LOSS) | 271 | 322 | 87 | -408 | 272 | OWENS CORNING AND SUBSIDIARIES | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||
Less: Comprehensive earnings attributable to noncontrolling interests | - | - | 1 | - | 1 | CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||||||||||||||||||||||
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING | $ | 271 | $ | 322 | $ | 86 | $ | -408 | $ | 271 | AS OF DECEMBER 31, 2012 | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | (in millions) | NET CASH FLOW PROVIDED BY | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | OPERATING ACTIVITIES | $ | -70 | $ | 236 | $ | 123 | $ | - | $ | 289 | |||||||||||||||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2013 | ASSETS | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | NET CASH FLOW USED FOR INVESTING | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | CURRENT ASSETS | ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 3 | $ | 52 | $ | - | $ | 55 | Additions to plant and equipment | -7 | -222 | -213 | - | -442 | ||||||||||||||||||||||||||||||||||||||
ASSETS | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Receivables, net | - | - | 600 | - | 600 | Proceeds from the sale of assets or affiliates | - | 3 | 78 | - | 81 | |||||||||||||||||||||||||||||||||||||
CURRENT ASSETS | Due from affiliates | - | 2,528 | - | -2,528 | - | Investment in subsidiaries and affiliates, net | - | -84 | - | - | -84 | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 3 | $ | 54 | $ | - | $ | 57 | Inventories | - | 473 | 313 | - | 786 | Net cash flow used for investing activities | -7 | -303 | -135 | - | -445 | ||||||||||||||||||||||||||||||||
Receivables, net | - | - | 683 | - | 683 | Other current assets | 5 | 75 | 96 | - | 176 | NET CASH FLOW PROVIDED BY (USED FOR) | ||||||||||||||||||||||||||||||||||||||||||
Due from affiliates | - | 2,664 | - | -2,664 | - | Total current assets | 5 | 3,079 | 1,061 | -2,528 | 1,617 | FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||
Inventories | - | 487 | 323 | - | 810 | Investment in subsidiaries | 6,877 | 2,489 | 558 | -9,924 | - | Proceeds from senior revolving credit facility | 1,547 | - | 365 | - | 1,912 | |||||||||||||||||||||||||||||||||||||
Assets held for sale - current | - | - | 29 | - | 29 | Due from affiliates | - | 65 | 1,022 | -1,087 | - | Payments on senior revolving credit facility | -1,423 | - | -207 | - | -1,630 | |||||||||||||||||||||||||||||||||||||
Other current assets | 45 | 141 | 83 | - | 269 | Property, plant and equipment, net | 374 | 1,294 | 1,235 | - | 2,903 | Proceeds from long-term debt | - | - | 6 | - | 6 | |||||||||||||||||||||||||||||||||||||
Total current assets | 45 | 3,295 | 1,172 | -2,664 | 1,848 | Goodwill | - | 1,068 | 75 | - | 1,143 | Payments on long-term debt | - | - | -10 | - | -10 | |||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 7,228 | 2,557 | 558 | -10,343 | - | Intangible assets | - | 939 | 302 | -196 | 1,045 | Net increase (decrease) in short-term debt | 8 | - | 18 | - | 26 | |||||||||||||||||||||||||||||||||||||
Due from affiliates | - | 67 | 959 | -1,026 | - | Deferred income taxes | 54 | 525 | 25 | - | 604 | Purchase of treasury stock | -138 | - | - | - | -138 | |||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | 362 | 1,313 | 1,257 | - | 2,932 | Other non-current assets | 62 | 74 | 120 | - | 256 | Other | 8 | - | - | - | 8 | |||||||||||||||||||||||||||||||||||||
Goodwill | - | 1,127 | 39 | - | 1,166 | TOTAL ASSETS | $ | 7,372 | $ | 9,533 | $ | 4,398 | $ | -13,735 | $ | 7,568 | Other intercompany loans | 72 | 67 | -139 | - | - | ||||||||||||||||||||||||||||||||
Intangible assets | - | 1,015 | 271 | -246 | 1,040 | LIABILITIES AND EQUITY | Net cash flow provided by (used for) financing activities | 74 | 67 | 33 | - | 174 | ||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | 14 | 416 | 6 | - | 436 | CURRENT LIABILITIES | Effect of exchange rate changes on cash | - | - | -18 | - | -18 | ||||||||||||||||||||||||||||||||||||||||||
Other non-current assets | 31 | 64 | 130 | - | 225 | Accounts payable and accrued liabilities | $ | 8 | $ | 620 | $ | 279 | $ | - | $ | 907 | Net increase in cash and cash equivalents | -3 | - | 3 | - | - | ||||||||||||||||||||||||||||||||
TOTAL ASSETS | $ | 7,680 | $ | 9,854 | $ | 4,392 | $ | -14,279 | $ | 7,647 | Due to affiliates | 1,419 | - | 1,109 | -2,528 | - | Cash and cash equivalents at beginning of period | 3 | - | 49 | - | 52 | ||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | Short-term debt | - | - | 5 | - | 5 | CASH AND CASH EQUIVALENTS AT END OF | |||||||||||||||||||||||||||||||||||||||||||||||
CURRENT LIABILITIES | Long-term debt – current portion | - | 2 | 2 | - | 4 | PERIOD | $ | - | $ | - | $ | 52 | $ | - | $ | 52 | |||||||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 15 | $ | 608 | $ | 365 | $ | - | $ | 988 | Total current liabilities | 1,427 | 622 | 1,395 | -2,528 | 916 | ||||||||||||||||||||||||||||||||||||||
Due to affiliates | 1,688 | - | 976 | -2,664 | - | Long-term debt, net of current portion | 1,884 | 28 | 164 | - | 2,076 | |||||||||||||||||||||||||||||||||||||||||||
Short-term debt | - | - | 1 | - | 1 | Due to affiliates | - | 1,022 | 65 | -1,087 | - | |||||||||||||||||||||||||||||||||||||||||||
Long-term debt – current portion | - | 2 | 1 | - | 3 | Pension plan liability | 331 | - | 149 | - | 480 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 1,703 | 610 | 1,343 | -2,664 | 992 | Other employee benefits liability | - | 254 | 20 | - | 274 | |||||||||||||||||||||||||||||||||||||||||||
Long-term debt, net of current portion | 1,814 | 26 | 184 | - | 2,024 | Deferred income taxes | - | - | 38 | - | 38 | |||||||||||||||||||||||||||||||||||||||||||
Due to affiliates | - | 959 | 67 | -1,026 | - | Other liabilities | 192 | 172 | 41 | -196 | 209 | |||||||||||||||||||||||||||||||||||||||||||
Pension plan liability | 213 | - | 123 | - | 336 | OWENS CORNING STOCKHOLDERS’ EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||
Other employee benefits liability | - | 226 | 16 | - | 242 | Preferred stock | - | - | - | - | 1 | - | ||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | - | - | 23 | - | 23 | Common stock | 1 | - | - | - | 1 | |||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 158 | 246 | 42 | -246 | 200 | Additional paid in capital | 3,925 | 6,541 | 2,062 | -8,603 | 3,925 | |||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING STOCKHOLDERS’ EQUITY | Accumulated earnings | 451 | 894 | 427 | -1,321 | 451 | ||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock | - | - | - | - | 1 | - | Accumulated other comprehensive deficit | -364 | - | - | - | -364 | ||||||||||||||||||||||||||||||||||||||||||
Common stock | 1 | - | - | - | 1 | Cost of common stock in treasury | -475 | - | - | - | -475 | |||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 3,938 | 6,572 | 2,045 | -8,617 | 3,938 | Total Owens Corning stockholders’ equity | 3,538 | 7,435 | 2,489 | -9,924 | 3,538 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated earnings | 655 | 1,215 | 513 | -1,728 | 655 | Noncontrolling interests | - | - | 37 | - | 37 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive deficit | -297 | - | - | - | -297 | Total equity | 3,538 | 7,435 | 2,526 | -9,924 | 3,575 | |||||||||||||||||||||||||||||||||||||||||||
Cost of common stock in treasury | -504 | - | - | - | -504 | TOTAL LIABILITIES AND EQUITY | $ | 7,372 | $ | 9,533 | $ | 4,398 | $ | -13,735 | $ | 7,568 | ||||||||||||||||||||||||||||||||||||||
Total Owens Corning stockholders’ equity | 3,793 | 7,787 | 2,558 | -10,345 | 3,793 | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | - | - | 37 | - | 37 | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||
Total equity | 3,793 | 7,787 | 2,595 | -10,345 | 3,830 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | $ | 7,681 | $ | 9,854 | $ | 4,393 | $ | -14,281 | $ | 7,647 | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 | NET CASH FLOW PROVIDED BY | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | OPERATING ACTIVITIES | $ | -108 | $ | 239 | $ | 199 | $ | - | $ | 330 | |||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOW USED FOR | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | INVESTING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOW PROVIDED BY | Additions to plant and equipment | -35 | -174 | -123 | - | -332 | ||||||||||||||||||||||||||||||||||||||||||||||||
OPERATING ACTIVITIES | $ | 126 | $ | 67 | $ | 225 | $ | - | $ | 418 | Proceeds from the sale of assets or affiliates | 42 | 5 | 12 | - | 59 | ||||||||||||||||||||||||||||||||||||||
NET CASH FLOW USED FOR INVESTING | Proceeds from Hurricane Sandy insurance claims | - | 20 | - | - | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||
ACTIVITIES | Net cash flow used for investing activities | 7 | -149 | -111 | - | -253 | ||||||||||||||||||||||||||||||||||||||||||||||||
Additions to plant and equipment | -10 | -143 | -200 | - | -353 | NET CASH FLOW PROVIDED BY (USED FOR) | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of assets or affiliates | 16 | - | - | - | 16 | FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries and affiliates, net | - | -51 | -11 | - | -62 | Proceeds from senior revolving credit and receivables securitization facilities | 1,564 | - | 313 | - | 1,877 | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from Hurricane Sandy insurance claims | - | 58 | - | - | 58 | Payments on senior revolving credit and receivables securitization facilities | -1,627 | - | -330 | - | -1,957 | |||||||||||||||||||||||||||||||||||||||||||
Deposit related to sale of Hangzhou, China plant | - | - | 34 | - | 34 | Proceeds from long-term debt | 599 | - | - | - | 599 | |||||||||||||||||||||||||||||||||||||||||||
Net cash flow used for investing activities | 6 | -136 | -177 | - | -307 | Payments on long-term debt | -430 | - | -11 | - | -441 | |||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOW PROVIDED BY (USED FOR) | Purchase of noncontrolling interest | - | -22 | - | - | -22 | ||||||||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES | Net increase (decrease) in short-term debt | -8 | - | -15 | - | -23 | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from senior revolving credit and receivables securitization facilities | 940 | - | 123 | - | 1,063 | Purchases of treasury stock | -113 | - | - | - | -113 | |||||||||||||||||||||||||||||||||||||||||||
Payments on senior revolving credit and receivables securitization facilities | -1,002 | - | -101 | - | -1,103 | Other | 4 | - | - | - | 4 | |||||||||||||||||||||||||||||||||||||||||||
Payments on long-term debt | - | - | -2 | - | -2 | Other intercompany loans | 112 | -65 | -47 | - | - | |||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in short-term debt | - | - | -4 | - | -4 | Net cash flow provided by (used for) financing activities | 101 | -87 | -90 | - | -76 | |||||||||||||||||||||||||||||||||||||||||||
Purchases of treasury stock | -63 | - | - | - | -63 | Effect of exchange rate changes on cash | - | - | 2 | - | 2 | |||||||||||||||||||||||||||||||||||||||||||
Other | 2 | - | - | - | 2 | Net increase in cash and cash equivalents | - | 3 | - | - | 3 | |||||||||||||||||||||||||||||||||||||||||||
Other intercompany loans | -9 | 69 | -60 | - | - | Cash and cash equivalents at beginning of period | - | - | 52 | - | 52 | |||||||||||||||||||||||||||||||||||||||||||
Net cash flow provided by (used for) financing | CASH AND CASH EQUIVALENTS AT END OF | |||||||||||||||||||||||||||||||||||||||||||||||||||||
activities | -132 | 69 | -44 | - | -107 | PERIOD | $ | - | $ | 3 | $ | 52 | $ | - | $ | 55 | ||||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash | - | - | -2 | - | -2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net increase in cash and cash equivalents | - | - | 2 | - | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | - | 3 | 52 | - | 55 | |||||||||||||||||||||||||||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS AT END OF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
PERIOD | $ | - | $ | 3 | $ | 54 | $ | - | $ | 57 | ||||||||||||||||||||||||||||||||||||||||||||
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (POLICIES) | 12 Months Ended |
Dec. 31, 2013 | |
Policy Text Block [Abstract] | ' |
Business Description and Basis of Presentation Policy [Text Block] | ' |
Description of Business | |
Owens Corning, a Delaware corporation, is a leading global producer of glass fiber reinforcements and other materials for composite systems and of residential and commercial building materials. The Company operates within two segments: Composites, which includes the Company's Reinforcements and Downstream businesses; and Building Materials, which includes the Company's Insulation and Roofing businesses. Through these lines of business, Owens Corning manufactures and sells products worldwide. The Company maintains leading market positions in all of its major product categories. | |
Basis of Presentation | |
Unless the context requires otherwise, the terms “Owens Corning,” “Company,” “we” and “our” in this report refer to Owens Corning and its subsidiaries. | |
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States. | |
Consolidation Policy Text Block | ' |
Principles of Consolidation | |
The Consolidated Financial Statements of the Company include the accounts of majority-owned subsidiaries. Intercompany accounts and transactions are eliminated. | |
Reclassifications Policy [Text Block] | ' |
Reclassifications | |
Certain reclassifications have been made to the 2012 and 2011 Consolidated Financial Statements and Notes to the Consolidated Financial Statements to conform to the classifications used in 2013. | |
Use Of Estimates | ' |
Use of Estimates and Assumptions | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. | |
Revenue Recognition Policy Text Block | ' |
Revenue Recognition | |
Revenue is recognized when title and risk of loss pass to the customer and collectability is reasonably assured. Provisions for discounts and rebates to customers, returns, warranties and other adjustments are provided in the same period that the related sales are recorded and are based on historical experience, current conditions and contractual obligations, as applicable. | |
Cost Of Sales Policy Text Block | ' |
Cost of Sales | |
Cost of sales includes material, labor, energy and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company's products. Distribution costs include inbound freight costs; purchasing and receiving costs; inspection costs; warehousing costs; shipping and handling costs, which include costs incurred relating to preparing, packaging, and shipping products to customers; and other costs of the Company's distribution network. All shipping and handling costs billed to the customer are included as net sales in the Consolidated Statements of Earnings (Loss). | |
Marketing and Admistrative Expenses Policy [Text Block] | ' |
Marketing and Administrative Expenses | |
Marketing and administrative expenses include selling and administrative costs, including depreciation and amortization expense, not directly associated with the manufacture and distribution of the Company's products. | |
Included in marketing and administrative expenses are marketing and advertising costs, which are expensed the first time the advertisement takes place. Marketing and advertising costs include advertising, and marketing communications. Marketing and advertising expenses for the years ended December 31, 2013, 2012, and 2011 were $105 million, $109 million and $105 million, respectively. | |
Research And Development Expense Policy | ' |
Science and Technology Expenses | |
The Company incurs certain expenses related to science and technology. These expenses include salaries, building and equipment costs, utilities, administrative expenses, materials and supplies associated with the improvement and development of the Company's products and manufacturing processes. These costs are expensed as incurred. | |
Earnings Per Share Policy Text Block | ' |
Earnings (Loss) per Share | |
Basic earnings (loss) per share are computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share reflect the dilutive effect of common equivalent shares and increased shares that would result from the conversion of equity securities. The effects of anti-dilution are not presented. | |
Cash And Cash Equivalents Policy Text Block | ' |
Cash and Cash Equivalents | |
The Company defines cash and cash equivalents as cash and time deposits with original maturities of three months or less when purchased. | |
Receivables Policy Text Block | ' |
Accounts Receivable | |
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is an estimate of the amount of probable credit losses in our existing accounts receivable. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered. | |
Inventory Policy Text Block | ' |
Inventory Valuation | |
Inventory costs include material, labor, and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company's products. Inventories are stated at lower of cost or market value and expense estimates are made for excess and obsolete inventories. Cost is determined by the first-in, first-out (“FIFO”) method. | |
Investment Policy Text Block | ' |
Investments in Affiliates | |
The Company accounts for investments in affiliates of 20% to 50% ownership when the Company does not have a controlling financial interest using the equity method under which the Company's share of earnings and losses of the affiliate is reflected in earnings and dividends are credited against the investment in affiliate when declared. | |
Goodwill And Intangible Assets Policy Text Block | ' |
Goodwill and Other Intangible Assets | |
Goodwill assets are not amortized but are tested for impairment on at least an annual basis. In the current year, as part of the annual assessment, the Company used a quantitative approach to determine whether the fair value of a reporting unit was less than its carrying amount. | |
As part of our testing process for goodwill we estimated fair values using a discounted cash flow approach from the perspective of a market participant. Significant estimates in the discounted cash flow approach are cash flow forecasts of our reporting units, the discount rate, the terminal business value and the projected income tax rate. The cash flow forecasts of the reporting units are based upon management's long-term view of our markets and are the forecasts that are used by senior management and the Board of Directors to evaluate operating performance. The discount rate utilized is management's estimate of what the market's weighted average cost of capital is for a company with a similar debt rating and stock volatility, as measured by beta. The projected income tax rates utilized are the statutory tax rates for the countries where each reporting unit operates. The terminal business value is determined by applying a business growth factor to the latest year for which a forecast exists. As part of our goodwill quantitative testing process, we would evaluate whether there are reasonably likely changes to management's estimates that would have a material impact on the results of the goodwill impairment testing. | |
Other indefinite-lived intangible assets are not amortized but are tested for impairment on at least an annual basis or when determined to have a finite useful life. Substantially all of the indefinite-lived intangible assets are in trademarks and trade names. The Company uses the royalty relief approach to determine whether it is more likely than not that the fair value of these assets is less than its carrying amount. This review is performed annually, or when circumstances arise which indicate there may be impairment. When applying the royalty relief approach, the Company performs a discounted cash flow analysis based on the value derived from owning these trademarks and trade names and being relieved from paying royalty to third parties. Significant assumptions used include projected cash flows, discount rate, projected income tax rate and terminal business value. These inputs are considered Level 3 inputs under the fair value hierarchy as they are the Company's own data, and are unobservable in the marketplace. | |
Identifiable intangible assets with a determinable useful life are amortized over that determinable life. Amortization expense for the years ended December 31, 2013, 2012 and 2011 was $22 million, $21 million and $22 million, respectively. See Note 5 to the Consolidated Financial Statements for further discussion. | |
Property Plant And Equipment Policy Text Block | ' |
Properties and Depreciation | |
Property, plant and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method. Property, plant and equipment accounts are relieved of the cost and related accumulated depreciation when assets are disposed of or otherwise retired. | |
Precious metals used in our production tooling are included in property, plant and equipment and are depleted as they are consumed during the production process. Depletion typically represents an annual expense of less than 3 percent of the outstanding value and is recorded in cost of sales on the Consolidated Statements of Earnings (Loss). | |
For the years ended December 31, 2013, 2012 and 2011 depreciation expense was $310 million, $328 million and $296 million, respectively. In 2013, depreciation expense included $20 million of accelerated depreciation related to the change in useful life of assets recorded as a result of our assessment of the future utility of an incomplete Insulation facility located in Cordele, Georgia. In 2013 and 2012, depreciation expense also included $9 million and $55 million of accelerated depreciation related to cost reduction actions further explained in Note 15 to the Consolidated Financial Statements. | |
The range of useful lives for the major components of the Company's plant and equipment is as follows: | |
Buildings and leasehold improvements 15 – 40 years | |
Machinery and equipment | |
Furnaces 4 – 15 years | |
Information systems 5 – 10 years | |
Equipment 5 – 20 years | |
Expenditures for normal maintenance and repairs are expensed as incurred. | |
Asset Impairments Policy [Text Block] | ' |
Asset Impairments | |
The Company evaluates tangible and intangible long-lived assets for impairment when triggering events have occurred. This requires significant assumptions including projected cash flows, projected income tax rate and terminal business value. These inputs are considered Level 3 inputs under the fair value hierarchy as they are the Company's own data, and are unobservable in the marketplace. Changes in management intentions, market conditions or operating performance could indicate that impairment charges might be necessary that would be material to the Company's Consolidated Financial Statements in any given period. | |
Income Tax Policy Text Block | ' |
Income Taxes | |
The Company recognizes current tax liabilities and assets for the estimated taxes payable or refundable on the tax returns for the current year. Deferred tax balances reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis. Amounts are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. In addition, realization of certain deferred tax assets is dependent upon our ability to generate future taxable income. The Company records a valuation allowance to reduce its deferred tax assets to the amount that it believes is more likely than not to be realized. In addition, the Company estimates tax reserves to cover potential taxing authority claims for income taxes and interest attributable to audits of open tax years. | |
Value Added Tax Policy [Text Block] | ' |
Taxes Collected from Customers and Remitted to Government Authorities and Taxes Paid to Vendors | |
Taxes are assessed by various governmental authorities at different rates on many different types of transactions. The Company charges sales tax or Value Added Tax (“VAT”) on sales to customers where applicable, as well as captures and claims back all available VAT that has been paid on purchases. VAT is recorded in separate payable or receivable accounts and does not affect revenue or cost of sales line items in the income statement. VAT receivable is recorded as a percentage of qualifying purchases at the time the vendor invoice is processed. VAT payable is recorded as a percentage of qualifying sales at the time an Owens Corning sale to a customer subject to VAT occurs. Amounts are paid to the taxing authority according to the method and collection prescribed by local regulations. Where applicable, VAT payable is netted against VAT receivable. The Company also pays sales tax to vendors who include a tax, required by government regulations, to the purchase price charged to the Company. | |
Pension And Other Postretirement Plans Policy | ' |
Pension and Other Postretirement Benefits | |
Accounting for pensions and other postretirement benefits involves estimating the cost of benefits to be provided well into the future and attributing that cost over the time period each employee works. To accomplish this, extensive use is made of assumptions about investment returns, discount rates, inflation, mortality, turnover and medical costs. | |
Derivatives Policy Text Block | ' |
Derivative Financial Instruments | |
The Company recognizes all derivative instruments as either assets or liabilities at fair value on the balance sheet. To the extent that a derivative is effective as a cash flow hedge, the change in fair value of the derivative is deferred in accumulated other comprehensive income/deficit (“OCI”). Any portion considered to be ineffective is reported in earnings immediately. To the extent that a derivative is effective as a fair value hedge, the change in the fair value of the derivative is offset by the change in the fair value of the item being hedged in the Consolidated Statements of Earnings (Loss). See Note 4 to the Consolidated Financial Statements for further discussion. | |
SEGMENT_INFORMATION_TABLE
SEGMENT INFORMATION (TABLE) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | ' | ||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 1,845 | $ | 1,859 | $ | 1,976 | |||||||||
Building Materials | 3,609 | 3,482 | 3,537 | ||||||||||||
Total reportable segments | 5,454 | 5,341 | 5,513 | ||||||||||||
Corporate eliminations | -159 | -169 | -178 | ||||||||||||
NET SALES | $ | 5,295 | $ | 5,172 | $ | 5,335 | |||||||||
Schedule of Revenues by Geographical Areas [Table Text Block] | ' | ||||||||||||||
External Customer Sales by Geographic Region | |||||||||||||||
United States | $ | 3,644 | $ | 3,504 | $ | 3,552 | |||||||||
Europe | 545 | 558 | 619 | ||||||||||||
Asia Pacific | 627 | 639 | 674 | ||||||||||||
Canada and other | 479 | 471 | 490 | ||||||||||||
NET SALES | $ | 5,295 | $ | 5,172 | $ | 5,335 | |||||||||
Reconciliation of Revenue from Product Groups to Consolidated [Table Text Block] | ' | ||||||||||||||
Sales by Product Group | |||||||||||||||
Composites | $ | 1,845 | $ | 1,859 | $ | 1,976 | |||||||||
Insulation | 1,642 | 1,468 | 1,368 | ||||||||||||
Roofing | 1,967 | 2,014 | 2,169 | ||||||||||||
Corporate Eliminations | -159 | -169 | -178 | ||||||||||||
NET SALES | $ | 5,295 | $ | 5,172 | $ | 5,335 | |||||||||
Schedule of Earnings before Interest and Taxes [Table Text Block] | ' | ||||||||||||||
The following table summarizes EBIT by segment (in millions): | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 98 | $ | 91 | $ | 201 | |||||||||
Building Materials | 426 | 293 | 332 | ||||||||||||
Total reportable segments | $ | 524 | $ | 384 | $ | 533 | |||||||||
Corporate, Other and Eliminations | |||||||||||||||
Charges related to cost reduction actions and related items (a) | $ | -26 | $ | -136 | $ | -17 | |||||||||
Net gain (loss) related to Hurricane Sandy property damage and insurance recovery | 15 | -9 | - | ||||||||||||
Accelerated depreciation related to a change in the useful life of assets at our incomplete Cordele, Georgia facility | -20 | - | - | ||||||||||||
Gain on sale of assets and related charges (b) | - | - | 16 | ||||||||||||
General corporate expense | -108 | -91 | -71 | ||||||||||||
EBIT | $ | 385 | $ | 148 | $ | 461 | |||||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ' | ||||||||||||||
TOTAL ASSETS AND PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION | |||||||||||||||
The following table summarizes total assets by segment and property, plant and equipment by geographic region (in millions): | |||||||||||||||
Dec. 31, | |||||||||||||||
TOTAL ASSETS | 2013 | 2012 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 2,379 | $ | 2,414 | |||||||||||
Building Materials | 4,011 | 3,896 | |||||||||||||
Total reportable segments | $ | 6,390 | $ | 6,310 | |||||||||||
Reconciliation to consolidated total assets | |||||||||||||||
Cash and cash equivalents | $ | 57 | $ | 55 | |||||||||||
Current and noncurrent Deferred income taxes | 573 | 685 | |||||||||||||
Investments in affiliates | 51 | 51 | |||||||||||||
Assets held for sale - current | 29 | - | |||||||||||||
Corporate property, plant and equipment, other assets and eliminations | 547 | 467 | |||||||||||||
CONSOLIDATED TOTAL ASSETS | $ | 7,647 | $ | 7,568 | |||||||||||
Schedule of Property, Plant and Equipment by Geographical Areas [Table Text Block] | ' | ||||||||||||||
PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION | |||||||||||||||
United States | $ | 1,688 | $ | 1,708 | |||||||||||
Europe | 520 | 513 | |||||||||||||
Canada | 131 | 150 | |||||||||||||
Asia Pacific | 375 | 350 | |||||||||||||
Other | 218 | 182 | |||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT | $ | 2,932 | $ | 2,903 | |||||||||||
Schedule of Depreciation and Amortization by Segment [Table Text Block] | ' | ||||||||||||||
PROVISION FOR DEPRECIATION AND AMORTIZATION | |||||||||||||||
The following table summarizes the provision for depreciation and amortization by segment (in millions): | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 130 | $ | 123 | $ | 128 | |||||||||
Building Materials | 142 | 143 | 157 | ||||||||||||
Total reportable segments | $ | 272 | $ | 266 | $ | 285 | |||||||||
General corporate depreciation and amortization (a) | $ | 60 | $ | 83 | $ | 33 | |||||||||
CONSOLIDATED PROVISION FOR DEPRECIATION | |||||||||||||||
AND AMORTIZATION | $ | 332 | $ | 349 | $ | 318 | |||||||||
(a) 2013 includes $9 million of accelerated depreciation related to cost reduction actions and $20 million of accelerated depreciation related to the change in useful life of assets recorded as a result of our assessment of the future utility of an incomplete Insulation facility located in Cordele, Georgia. 2012 includes $55 million of accelerated depreciation charges related to cost reduction actions. | |||||||||||||||
Schedule of Additions to Property, Plant and Equipment by Segment [Table Text Block] | ' | ||||||||||||||
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT | |||||||||||||||
The following table summarizes additions to property, plant and equipment by segment (in millions): | |||||||||||||||
Twelve Months Ended | |||||||||||||||
Dec. 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||
Reportable Segments | |||||||||||||||
Composites | $ | 155 | $ | 167 | $ | 256 | |||||||||
Building Materials | 167 | 127 | 151 | ||||||||||||
Total reportable segments | $ | 322 | $ | 294 | $ | 407 | |||||||||
General corporate additions | $ | 31 | $ | 38 | $ | 35 | |||||||||
CONSOLIDATED ADDITIONS TO PROPERTY, PLANT AND | |||||||||||||||
EQUIPMENT | $ | 353 | $ | 332 | $ | 442 |
INVENTORIES_TABLE
INVENTORIES (TABLE) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Inventory Disclosure [Abstract] | ' | |||||
Schedule of Inventory Current [Table Text Block] | ' | |||||
3. INVENTORIES | ||||||
Inventories consist of the following (in millions): | ||||||
Dec. 31, | ||||||
2013 | 2012 | |||||
Finished goods | $ | 580 | $ | 554 | ||
Materials and supplies | 230 | 232 | ||||
Total inventories | $ | 810 | $ | 786 |
DERIVATIVE_FINANCIAL_INSTRUMEN1
DERIVATIVE FINANCIAL INSTRUMENTS (TABLE) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Derivative Assets and Liabilities at Fair Value [Table Text Block] | ' | ||||||||||||||||
The following table presents the fair value and respective location of derivatives and hedging instruments on the Consolidated Balance Sheets (in millions): | |||||||||||||||||
Fair Value at | |||||||||||||||||
Dec. 31, | Dec. 31, | ||||||||||||||||
Location | 2013 | 2012 | |||||||||||||||
Derivative assets designated as hedging instruments: | |||||||||||||||||
Cash flow hedges: | |||||||||||||||||
Natural gas and electricity | Other current assets | $ | 1 | $ | - | ||||||||||||
Amount of gain recognized in OCI (effective portion) | OCI | $ | 1 | $ | - | ||||||||||||
Derivative liabilities designated as hedging instruments: | |||||||||||||||||
Cash flow hedges: | |||||||||||||||||
Accounts payable and | |||||||||||||||||
Natural gas and electricity | accrued liabilities | $ | - | $ | 1 | ||||||||||||
Amount of loss recognized in OCI (effective portion) | OCI | $ | - | $ | 1 | ||||||||||||
Fair value hedges: | |||||||||||||||||
Accounts payable and | |||||||||||||||||
Interest rate swaps | accrued liabilities | $ | 3 | $ | - | ||||||||||||
Derivative assets not designated as hedging instruments: | |||||||||||||||||
Foreign exchange contracts | Other current assets | $ | - | $ | 1 | ||||||||||||
Derivative liabilities not designated as hedging instruments: | |||||||||||||||||
Accounts payable and | |||||||||||||||||
Foreign exchange contracts | accrued liabilities | $ | 1 | $ | 3 | ||||||||||||
Schedule of Fair Value Derivative Instruments Statements of Earnings Location [Table Text Block] | ' | ||||||||||||||||
The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (Loss) (in millions): | |||||||||||||||||
Twelve Months Ended | |||||||||||||||||
Dec. 31, | |||||||||||||||||
Location | 2013 | 2012 | 2011 | ||||||||||||||
Derivative activity designated as hedging instruments: | |||||||||||||||||
Natural gas and electricity: | |||||||||||||||||
Amount of loss reclassified from OCI into earnings | |||||||||||||||||
(effective portion) | Cost of sales | $ | 1 | $ | 5 | $ | 4 | ||||||||||
Interest rate swaps: | |||||||||||||||||
Amount of (gain) loss recognized in earnings | Interest | ||||||||||||||||
(ineffective portion) | expense, net | $ | -1 | $ | - | $ | 2 | ||||||||||
Derivative activity not designated as hedging instruments: | |||||||||||||||||
Natural gas and electricity: | |||||||||||||||||
Amount of (gain) loss recognized in earnings | Other expenses (income), net | $ | - | $ | - | $ | -1 | ||||||||||
Foreign currency exchange contract: | |||||||||||||||||
Amount of (gain) loss recognized in earnings (a) | Other expenses (income), net | $ | 12 | $ | 17 | $ | -14 |
GOODWILL_AND_OTHER_INTANGIBLE_1
GOODWILL AND OTHER INTANGIBLE ASSETS (TABLE) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill and Other Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ||||||||||||
5. GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||
Intangible assets and goodwill consist of the following (in millions): | |||||||||||||
Dec. 31, 2013 | Weighted Average Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Amortizable intangible assets: | |||||||||||||
Customer relationships | 19 | $ | 181 | $ | -68 | $ | 113 | ||||||
Technology | 20 | 195 | -74 | 121 | |||||||||
Franchise and other agreements | 14 | 36 | -16 | 20 | |||||||||
Indefinite-lived intangible assets: | |||||||||||||
Trademarks | 786 | - | 786 | ||||||||||
Total intangible assets | $ | 1,198 | $ | -158 | $ | 1,040 | |||||||
Goodwill | $ | 1,166 | |||||||||||
Dec. 31, 2012 | Weighted Average Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||
Amortizable intangible assets: | |||||||||||||
Customer relationships | 19 | $ | 169 | $ | -58 | $ | 111 | ||||||
Technology | 20 | 198 | -64 | 134 | |||||||||
Franchise and other agreements | 15 | 37 | -14 | 23 | |||||||||
Indefinite-lived intangible assets: | |||||||||||||
Trademarks | 777 | - | 777 | ||||||||||
Total intangible assets | $ | 1,181 | $ | -136 | $ | 1,045 | |||||||
Goodwill | $ | 1,143 | |||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||||
The changes in the net carrying amount of goodwill by segment are as follows (in millions): | |||||||||||||
Composites | Building Materials | Total | |||||||||||
Balance as of December 31, 2012 | $ | 56 | $ | 1,087 | $ | 1,143 | |||||||
Acquisitions (see Note 9) | 2 | 22 | 24 | ||||||||||
Foreign currency adjustments | -1 | - | -1 | ||||||||||
Balance as of December 31, 2013 | $ | 57 | $ | 1,109 | $ | 1,166 |
PROPERTY_PLANT_AND_EQUIPMENT_T
PROPERTY, PLANT AND EQUIPMENT (TABLE) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Property, Plant And Equipment [Abstract] | ' | |||||
Property Plant And Equipment Text Block | ' | |||||
6. PROPERTY, PLANT AND EQUIPMENT | ||||||
Property, plant and equipment consist of the following (in millions): | ||||||
Dec. 31, | Dec. 31, | |||||
2013 | 2012 | |||||
Land | $ | 210 | $ | 222 | ||
Buildings and leasehold improvements | 811 | 789 | ||||
Machinery and equipment | 3,353 | 3,223 | ||||
Construction in progress | 173 | 147 | ||||
4,547 | 4,381 | |||||
Accumulated depreciation | -1,615 | -1,478 | ||||
Property, plant and equipment, net | $ | 2,932 | $ | 2,903 |
CHANGES_IN_NONCONTROLLING_INTE1
CHANGES IN NONCONTROLLING INTERESTS (TABLE) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block] | ' | |||||||||||||
The following table discloses the changes in noncontrolling interests on Owens Corning stockholders' equity and effects on net earnings attributable to Owens Corning (in millions): | ||||||||||||||
Twelve Months Ended | ||||||||||||||
Dec. 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net earnings (loss) attributable to Owens Corning | $ | 204 | $ | -19 | $ | 276 | ||||||||
Increase (decrease) in Owens Corning additional paid in capital for | ||||||||||||||
NEI purchase agreement | - | -16 | - | |||||||||||
Change from net earnings (loss) attributable to Owens Corning and | ||||||||||||||
change in noncontrolling interests | $ | 204 | $ | -35 | $ | 276 | ||||||||
INVESTMENTS_IN_AFFILIATES_TABL
INVESTMENTS IN AFFILIATES (TABLE) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||
Ownership Percentage in Affiliates [Table Text Block] | ' | |||||||||
8. INVESTMENTS IN AFFILIATES | ||||||||||
At December 31, 2013 and 2012, the Company's ownership percentage in affiliates, which generally are engaged in the manufacture of fibrous glass and related products for the insulation, construction, reinforcements, and textile markets, included: | ||||||||||
Dec. 31, | ||||||||||
2013 | 2012 | |||||||||
Arabian Fiberglass Insulation Company, Ltd. (Saudi Arabia) | 49% | 49% | ||||||||
Fiberteq LLC (United States) | 50% | 50% | ||||||||
Neptco LLC (United States) | 50% | 50% | ||||||||
Summarized Balance Sheet Information of Affiliates [Table Text Block] | ' | |||||||||
The following tables provide summarized financial information on a combined 100% basis for the Company's affiliates accounted for under the equity method (in millions): | ||||||||||
Dec. 31, | ||||||||||
2013 | 2012 | |||||||||
Current assets | $ | 50 | $ | 53 | ||||||
Non-current assets | $ | 90 | $ | 85 | ||||||
Current liabilities | $ | 25 | $ | 22 | ||||||
Non-current liabilities | $ | 23 | $ | 24 | ||||||
Summarized Statement of Earnings Information of Affiliates [Table Text Block] | ' | |||||||||
Twelve Months Ended | ||||||||||
Dec. 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Net sales | $ | 138 | $ | 140 | $ | 143 | ||||
Gross margin | $ | 7 | $ | 11 | $ | 14 | ||||
Net earnings | $ | 1 | $ | 5 | $ | 5 |
LEASES_TABLE
LEASES (TABLE) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||
Period | Minimum Future Rental Commitments | |||
2014 | $ | 66 | ||
2015 | $ | 39 | ||
2016 | $ | 31 | ||
2017 | $ | 22 | ||
2018 | $ | 14 | ||
2019 and beyond | $ | 36 |
ACCOUNTS_PAYABLE_AND_ACCRUED_L1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (TABLE) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | |||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | |||||||
13. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | ||||||||
Accounts payable and accrued liabilities consist of the following (in millions): | ||||||||
Dec. 31, | ||||||||
2013 | 2012 | |||||||
Accounts payable | $ | 547 | $ | 498 | ||||
Payroll, vacation pay, and incentive compensation | 161 | 115 | ||||||
Payroll, property, and other taxes | 95 | 98 | ||||||
Other employee benefits liabilities | 39 | 40 | ||||||
Warranties (current portion) | 19 | 20 | ||||||
Legal and audit fees | 7 | 11 | ||||||
Accrued interest | 8 | 11 | ||||||
Charges related to cost reduction actions | 26 | 45 | ||||||
Deferred acquisition payments | 5 | 10 | ||||||
Other | 81 | 59 | ||||||
Total | $ | 988 | $ | 907 |
WARRANTIES_TABLE
WARRANTIES (TABLE) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Warranties [Abstract] | ' | ||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | ||||||
The Company records a liability for warranty obligations at the date the related products are sold. Adjustments are made as new information becomes available. A reconciliation of the warranty liability is as follows (in millions): | |||||||
Dec. 31, | |||||||
2013 | 2012 | ||||||
Beginning balance | $ | 41 | $ | 38 | |||
Amounts accrued for current year | 21 | 24 | |||||
Settlements of warranty claims | -21 | -21 | |||||
Ending balance | $ | 41 | $ | 41 | |||
COST_REDUCTION_ACTIONS_TABLE
COST REDUCTION ACTIONS (TABLE) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Cost Reduction Actions 2012 [Member] | ' | ||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ||||||||||||||||||
Schedule Of Restructuring Reserve By Type Of Cost Text Block | ' | ||||||||||||||||||
The following table summarizes the status of the unpaid liabilities from the Company's 2012 cost reduction actions (in millions): | |||||||||||||||||||
Beginning Balance Dec. 31, 2012 | Costs Incurred | Payments | Ending Balance Dec. 31, 2013 | Cumulative Charges Incurred | |||||||||||||||
Severance | $ | 45 | $ | 2 | $ | 21 | $ | 26 | $ | 53 | |||||||||
Total | $ | 45 | $ | 2 | $ | 21 | $ | 26 | $ | 53 | |||||||||
Cost Reduction Actions 2013 [Member] | ' | ||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ||||||||||||||||||
Schedule Of Restructuring Reserve By Type Of Cost Text Block | ' | ||||||||||||||||||
The following table summarizes the status of the unpaid liabilities from the Company's 2013 cost reduction actions (in millions): | |||||||||||||||||||
Beginning Balance Dec. 31, 2012 | Costs Incurred | Payments | Ending Balance Dec. 31, 2013 | Cumulative Charges Incurred | |||||||||||||||
Severance | $ | - | $ | 6 | $ | - | $ | 6 | $ | 6 | |||||||||
Total | $ | - | $ | 6 | $ | - | $ | 6 | $ | 6 |
DEBT_TABLE
DEBT (TABLE) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Debt Disclosure [Abstract] | ' | ||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||
16. DEBT | |||||||
Details of the Company's outstanding long-term debt are as follows (in millions): | |||||||
Dec. 31, | Dec. 31, | ||||||
2013 | 2012 | ||||||
6.50% senior notes, net of discount, due 2016 | $ | 400 | $ | 400 | |||
9.00% senior notes, net of discount, due 2019 | 248 | 247 | |||||
4.20% senior notes, net of discount, due 2022 | 599 | 599 | |||||
7.00% senior notes, net of discount, due 2036 | 540 | 540 | |||||
Accounts receivable securitization facility, maturing in 2016 | 162 | 141 | |||||
Senior revolving credit facility, maturing in 2018 | 12 | 73 | |||||
Various capital leases, due through and beyond 2050 | 49 | 52 | |||||
Various floating rate debt, maturing through 2017 | 1 | 2 | |||||
Fair value adjustment to debt | 16 | 26 | |||||
Total long-term debt | 2,027 | 2,080 | |||||
Less – current portion | 3 | 4 | |||||
Long-term debt, net of current portion | $ | 2,024 | $ | 2,076 | |||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||
Debt Maturities | |||||||
The aggregate maturities for all long-term debt issues for each of the five years following December 31, 2013 and thereafter are presented in the table below (in millions). The maturities are stated at total cash the Company is contractually obligated to pay third parties and are not stated net of discount. The effects of the interest rate swap are not included in the table below. | |||||||
Period | Maturities | ||||||
2014 | $ | 3 | |||||
2015 | 3 | ||||||
2016 | 580 | ||||||
2017 | 3 | ||||||
2018 | 15 | ||||||
2019 and beyond | 1,423 | ||||||
Total | $ | 2,027 |
PENSION_AND_OTHER_POSTRETIREME
PENSION AND OTHER POSTRETIREMENT BENEFITS (TABLE) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | ||||||||||||||||||
The following tables provide a reconciliation of the change in the projected benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Change in Projected Benefit Obligation | |||||||||||||||||||
Benefit obligation at beginning of period | $ | 1,187 | $ | 554 | $ | 1,741 | $ | 1,105 | $ | 503 | $ | 1,608 | |||||||
Service cost | 9 | 6 | 15 | 9 | 5 | 14 | |||||||||||||
Interest cost | 44 | 21 | 65 | 49 | 23 | 72 | |||||||||||||
Actuarial (gain) loss | -91 | 3 | -88 | 111 | 34 | 145 | |||||||||||||
Currency (gain) loss | - | -8 | -8 | - | 16 | 16 | |||||||||||||
Benefits paid | -79 | -21 | -100 | -87 | -23 | -110 | |||||||||||||
Settlements / Curtailments | - | -7 | -7 | - | -6 | -6 | |||||||||||||
Other | - | -2 | -2 | - | 2 | 2 | |||||||||||||
Benefit obligation at end of period | $ | 1,070 | $ | 546 | $ | 1,616 | $ | 1,187 | $ | 554 | $ | 1,741 | |||||||
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||||
Change in Plan Assets | |||||||||||||||||||
Fair value of assets at beginning of period | $ | 856 | $ | 404 | $ | 1,260 | $ | 812 | $ | 360 | $ | 1,172 | |||||||
Actual return on plan assets | 60 | 35 | 95 | 99 | 40 | 139 | |||||||||||||
Currency gain (loss) | - | -9 | -9 | - | 12 | 12 | |||||||||||||
Company contributions | 20 | 20 | 40 | 32 | 18 | 50 | |||||||||||||
Benefits paid | -79 | -21 | -100 | -87 | -23 | -110 | |||||||||||||
Settlements/curtailments | - | -7 | -7 | - | -3 | -3 | |||||||||||||
Other | 1 | - | 1 | - | - | - | |||||||||||||
Fair value of assets at end of period | $ | 858 | $ | 422 | $ | 1,280 | $ | 856 | $ | 404 | $ | 1,260 | |||||||
Funded status | $ | -212 | $ | -124 | $ | -336 | $ | -331 | $ | -150 | $ | -481 | |||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | ||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Amounts Recognized in the Consolidated Balance Sheets | |||||||||||||||||||
Prepaid pension cost | $ | - | $ | 2 | $ | 2 | $ | - | $ | 1 | $ | 1 | |||||||
Accrued pension cost - current | - | -2 | -2 | - | -2 | -2 | |||||||||||||
Accrued pension cost - non-current | -212 | -124 | -336 | -331 | -149 | -480 | |||||||||||||
Net amount recognized | $ | -212 | $ | -124 | $ | -336 | $ | -331 | $ | -150 | $ | -481 | |||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||
Amounts Recorded in Accumulated OCI | |||||||||||||||||||
Net actuarial loss | $ | -289 | $ | -78 | $ | -367 | $ | -396 | $ | -95 | $ | -491 | |||||||
Schedule of Assumptions Used to Determine Benefit Obligations [Table Text Block] | ' | ||||||||||||||||||
Weighted-Average Assumptions Used to Determine Benefit Obligation | |||||||||||||||||||
The following table presents weighted average assumptions used to determine benefit obligations at the measurement dates noted: | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
United States Plans | |||||||||||||||||||
Discount rate | 4.65% | 3.80% | |||||||||||||||||
Expected return on plan assets | 7.00% | 7.50% | |||||||||||||||||
Non-United States Plans | |||||||||||||||||||
Discount rate | 4.45% | 4.10% | |||||||||||||||||
Expected return on plan assets | 6.38% | 6.13% | |||||||||||||||||
Rate of compensation increase | 3.94% | 3.50% | |||||||||||||||||
Pension Plans, Defined Benefit [Member] | ' | ||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ||||||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||||
The following table presents information about the projected benefit obligation, accumulated benefit obligation ("ABO") and plan assets of the Company's pension plans (in millions): | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Plans with ABO in excess of fair value | |||||||||||||||||||
of plan assets: | |||||||||||||||||||
Projected benefit obligation | $ | 1,070 | $ | 406 | $ | 1,476 | $ | 1,187 | $ | 511 | $ | 1,698 | |||||||
Accumulated benefit obligation | $ | 1,070 | $ | 392 | $ | 1,462 | $ | 1,187 | $ | 487 | $ | 1,674 | |||||||
Fair value of plan assets | $ | 858 | $ | 293 | $ | 1,151 | $ | 856 | $ | 365 | $ | 1,221 | |||||||
Plans with fair value of assets in | |||||||||||||||||||
excess of ABO: | |||||||||||||||||||
Projected benefit obligation | $ | - | $ | 132 | $ | 132 | $ | - | $ | 43 | $ | 43 | |||||||
Accumulated benefit obligation | $ | - | $ | 121 | $ | 121 | $ | - | $ | 33 | $ | 33 | |||||||
Fair value of plan assets | $ | - | $ | 129 | $ | 129 | $ | - | $ | 39 | $ | 39 | |||||||
Total projected benefit obligation | $ | 1,070 | $ | 538 | $ | 1,608 | $ | 1,187 | $ | 554 | $ | 1,741 | |||||||
Total accumulated benefit obligation | $ | 1,070 | $ | 513 | $ | 1,583 | $ | 1,187 | $ | 520 | $ | 1,707 | |||||||
Total plan assets | $ | 858 | $ | 422 | $ | 1,280 | $ | 856 | $ | 404 | $ | 1,260 | |||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||||
Components of Net Periodic Pension Cost | |||||||||||||||||||
The following table presents the components of net periodic pension cost for the periods noted (in millions): | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Service cost | $ | 15 | $ | 15 | $ | 14 | |||||||||||||
Interest cost | 65 | 72 | 78 | ||||||||||||||||
Expected return on plan assets | -84 | -86 | -91 | ||||||||||||||||
Amortization of actuarial loss | 20 | 29 | 15 | ||||||||||||||||
Net periodic benefit cost | $ | 16 | $ | 30 | $ | 16 | |||||||||||||
Schedule of Assumptions Used to Determine Net Benefit Cost [Table Text Block] | ' | ||||||||||||||||||
Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost | |||||||||||||||||||
The following table presents weighted-average assumptions used to determine net periodic pension costs for the periods noted: | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
United States Plans | |||||||||||||||||||
Discount rate | 3.80% | 4.60% | 5.30% | ||||||||||||||||
Expected return on plan assets | 7.50% | 7.25% | 7.75% | ||||||||||||||||
Rate of compensation increase | N/A (a) | N/A (a) | N/A (a) | ||||||||||||||||
Non-United States Plans | |||||||||||||||||||
Discount rate | 4.10% | 4.65% | 5.21% | ||||||||||||||||
Expected return on plan assets | 6.13% | 7.23% | 7.25% | ||||||||||||||||
Rate of compensation increase | 3.50% | 3.75% | 3.86% | ||||||||||||||||
(a) Not applicable due to changes in plan made on August 1, 2009 that were effective beginning January 1, 2010. | |||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||
The following table shows estimated future benefit payments from the Company's pension plans (in millions): | |||||||||||||||||||
Year | Estimated Benefit Payments | ||||||||||||||||||
2014 | $ | 98 | |||||||||||||||||
2015 | $ | 100 | |||||||||||||||||
2016 | $ | 102 | |||||||||||||||||
2017 | $ | 102 | |||||||||||||||||
2018 | $ | 101 | |||||||||||||||||
2019-2023 | $ | 503 | |||||||||||||||||
United States Pension Plans Of US Entity Defined Benefit Member | ' | ||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | ||||||||||||||||||
Plan Assets | |||||||||||||||||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall under United States pension plan assets at December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
2013 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 100 | $ | 38 | $ | - | $ | 138 | |||||||||||
Domestic passive index | - | 58 | - | 58 | |||||||||||||||
International actively managed | 121 | - | - | 121 | |||||||||||||||
International passive index | - | 25 | - | 25 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Short-term debt | - | 27 | - | 27 | |||||||||||||||
Corporate bonds | 240 | 27 | - | 267 | |||||||||||||||
Government debt | 91 | - | - | 91 | |||||||||||||||
Real estate investment trusts | 26 | - | - | 26 | |||||||||||||||
Absolute return strategies | - | 80 | - | 80 | |||||||||||||||
Real assets | - | 25 | - | 25 | |||||||||||||||
Total United States plan assets | $ | 578 | $ | 280 | $ | - | $ | 858 | |||||||||||
2012 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 129 | $ | - | $ | - | $ | 129 | |||||||||||
Domestic passive index | - | 55 | - | 55 | |||||||||||||||
International actively managed | 122 | - | - | 122 | |||||||||||||||
International passive index | - | 27 | - | 27 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Cash and cash equivalents | 1 | - | - | 1 | |||||||||||||||
Short-term debt | - | 24 | - | 24 | |||||||||||||||
Corporate bonds | 246 | 28 | - | 274 | |||||||||||||||
Government debt | 94 | - | - | 94 | |||||||||||||||
Real estate investment trusts | 27 | - | - | 27 | |||||||||||||||
Absolute return strategies | - | 76 | - | 76 | |||||||||||||||
Real assets | - | 27 | - | 27 | |||||||||||||||
Total United States plan assets | $ | 619 | $ | 237 | $ | - | $ | 856 | |||||||||||
Foreign Pension Plans Defined Benefit Member | ' | ||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | ||||||||||||||||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall under non-United States pension plan assets at December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
2013 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 30 | $ | 4 | $ | - | $ | 34 | |||||||||||
Domestic passive index | - | 4 | - | 4 | |||||||||||||||
International actively managed | - | 61 | - | 61 | |||||||||||||||
International passive index | 2 | 26 | - | 28 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Cash and cash equivalents | 3 | 22 | - | 25 | |||||||||||||||
Corporate bonds | - | 162 | - | 162 | |||||||||||||||
Government Debt | - | 7 | - | 7 | |||||||||||||||
Absolute return strategies | - | 101 | - | 101 | |||||||||||||||
Total non-United States plan assets | $ | 35 | $ | 387 | $ | - | $ | 422 | |||||||||||
2012 | |||||||||||||||||||
Asset Category | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equity | |||||||||||||||||||
Domestic actively managed | $ | 25 | $ | 4 | $ | - | $ | 29 | |||||||||||
Domestic passive index | - | 4 | - | 4 | |||||||||||||||
International actively managed | - | 50 | - | 50 | |||||||||||||||
International passive index | 8 | 23 | - | 31 | |||||||||||||||
Fixed income and cash equivalents | |||||||||||||||||||
Cash and cash equivalents | 3 | 26 | - | 29 | |||||||||||||||
Corporate bonds | - | 166 | - | 166 | |||||||||||||||
Government Debt | - | 7 | - | 7 | |||||||||||||||
Absolute return strategies | - | 88 | - | 88 | |||||||||||||||
Total non-United States plan assets | $ | 36 | $ | 368 | $ | - | $ | 404 | |||||||||||
Other Postretirement Benefits Other Than Pensions [Member] | ' | ||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | ||||||||||||||||||
The following table provides a reconciliation of the change in the projected benefit obligation and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2013 and 2012 (in millions): | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||
U.S. | Non-U.S. | Total | U.S. | Non-U.S. | Total | ||||||||||||||
Change in Projected Benefit Obligation | |||||||||||||||||||
Benefit obligation at beginning of period | $ | 252 | $ | 21 | $ | 273 | $ | 244 | $ | 20 | $ | 264 | |||||||
Service cost | 2 | 1 | 3 | 3 | - | 3 | |||||||||||||
Interest cost | 8 | 1 | 9 | 10 | 1 | 11 | |||||||||||||
Actuarial loss (gain) | -18 | -2 | -20 | 17 | - | 17 | |||||||||||||
Currency loss (gain) | - | - | - | - | 1 | 1 | |||||||||||||
Plan amendments | - | - | - | -3 | - | -3 | |||||||||||||
Benefits paid | -18 | -2 | -20 | -19 | -1 | -20 | |||||||||||||
Other | 2 | -3 | -1 | - | - | - | |||||||||||||
Benefit obligation at end of period | $ | 228 | $ | 16 | $ | 244 | $ | 252 | $ | 21 | $ | 273 | |||||||
Funded status | $ | -228 | $ | -16 | $ | -244 | $ | -252 | $ | -21 | $ | -273 | |||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | ||||||||||||||||||
Amounts Recognized in the Consolidated | |||||||||||||||||||
Balance Sheets | |||||||||||||||||||
Accrued benefit obligation - current | $ | -20 | $ | - | $ | -20 | $ | -20 | $ | -1 | $ | -21 | |||||||
Accrued benefit obligation - non-current | -208 | -16 | -224 | -232 | -20 | -252 | |||||||||||||
Net amount recognized | $ | -228 | $ | -16 | $ | -244 | $ | -252 | $ | -21 | $ | -273 | |||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||
Amounts Recorded in Accumulated OCI | |||||||||||||||||||
Net actuarial gain | $ | 21 | $ | 6 | $ | 27 | $ | 4 | $ | 5 | $ | 9 | |||||||
Net prior service credit | 24 | - | 24 | 28 | - | 28 | |||||||||||||
Net amount recognized | $ | 45 | $ | 6 | $ | 51 | $ | 32 | $ | 5 | $ | 37 | |||||||
Schedule of Assumptions Used to Determine Benefit Obligations [Table Text Block] | ' | ||||||||||||||||||
Weighted-Average Assumptions Used to Determine Benefit Obligations | |||||||||||||||||||
The following table presents the discount rates used to determine the benefit obligations: | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
United States plans | 4.35% | 3.50% | |||||||||||||||||
Non-United States plans | 4.45% | 3.80% | |||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||||
Components of Net Periodic Postretirement Benefit Cost | |||||||||||||||||||
The following table presents the components of net periodic postretirement benefit cost (in millions): | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Service cost | $ | 3 | $ | 3 | $ | 3 | |||||||||||||
Interest cost | 9 | 11 | 14 | ||||||||||||||||
Amortization of prior service cost | -4 | -4 | - | ||||||||||||||||
Amortization of actuarial gain | -1 | -3 | -1 | ||||||||||||||||
Curtailment gain | - | -1 | -2 | ||||||||||||||||
Net periodic postretirement benefit cost | $ | 7 | $ | 6 | $ | 14 | |||||||||||||
Schedule of Assumptions Used to Determine Net Benefit Cost [Table Text Block] | ' | ||||||||||||||||||
Weighted-Average Assumptions Used to Determine Net Periodic Postretirement Benefit Cost | |||||||||||||||||||
The following table presents the discount rates used to determine net periodic postretirement benefit cost: | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
United States plans | 3.50% | 4.35% | 5.05% | ||||||||||||||||
Non-United States plans | 3.80% | 4.10% | 4.80% | ||||||||||||||||
Schedule of Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||
The following table presents health care cost trend rates used to determine net periodic postretirement benefit cost, as well as information regarding the ultimate rate and the year in which their ultimate rate is reached: | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
Dec. 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
United States plans | |||||||||||||||||||
Initial rate at end of year | 7.00% | 7.00% | 7.00% | ||||||||||||||||
Ultimate rate | 5.00% | 5.00% | 5.00% | ||||||||||||||||
Year in which ultimate rate is reached | 2023 | 2022 | 2021 | ||||||||||||||||
Non-United States plans | |||||||||||||||||||
Initial rate at end of year | 6.23% | 6.50% | 6.80% | ||||||||||||||||
Ultimate rate | 4.79% | 4.80% | 4.80% | ||||||||||||||||
Year in which ultimate rate is reached | 2019 | 2019 | 2019 | ||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||
The following table shows estimated future benefit payments from the Company's postretirement benefit plans (in millions): | |||||||||||||||||||
Year | Estimated Benefit Payments | ||||||||||||||||||
2014 | $ | 21 | |||||||||||||||||
2015 | $ | 21 | |||||||||||||||||
2016 | $ | 21 | |||||||||||||||||
2017 | $ | 21 | |||||||||||||||||
2018 | $ | 20 | |||||||||||||||||
2019-2023 | $ | 92 | |||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||
The health care cost trend rate assumption can have a significant effect on the amounts reported. To illustrate, a one-percentage point change in the December 31, 2013 assumed health care cost trend rate would have the following effects (in millions): | |||||||||||||||||||
1-Percentage Point | |||||||||||||||||||
Increase | Decrease | ||||||||||||||||||
Increase (decrease) in total service cost and interest cost components of net | |||||||||||||||||||
periodic postretirement benefit cost | $ | 1 | $ | - | |||||||||||||||
Increase (decrease) of accumulated postretirement benefit obligation | $ | 9 | $ | -8 |
STOCK_COMPENSATION_TABLE
STOCK COMPENSATION (TABLE) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||
The following table summarizes the Company's stock option activity: | |||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||
Number of Options | Weighted-Average Exercise Price | Number of Options | Weighted-Average Exercise Price | Number of Options | Weighted-Average Exercise Price | ||||||||||||||
Beginning Balance | 3,025,220 | $ | 27.78 | 3,293,545 | $ | 26.26 | 3,397,858 | $ | 25.06 | ||||||||||
Granted | 329,800 | 42.16 | 409,700 | 33.73 | 412,200 | 33.98 | |||||||||||||
Exercised | -549,800 | 26.88 | -520,120 | 22.65 | -374,738 | 25.78 | |||||||||||||
Forfeited | -56,500 | 34.58 | -157,905 | 28.48 | -141,775 | 21.19 | |||||||||||||
Ending Balance | 2,748,720 | $ | 29.55 | 3,025,220 | $ | 27.78 | 3,293,545 | $ | 26.26 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | ' | ||||||||||||||||||
The following table summarizes information about the Company's options outstanding and exercisable: | |||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Weighted-Average | Number Exercisable at Dec. 31, 2013 | Weighted-Average | |||||||||||||||||
Range of Exercise Prices | Options Outstanding | Remaining Contractual Life | Exercise Price | Remaining Contractual Life | Exercise Price | ||||||||||||||
$13.89 - $42.16 | 2,748,720 | 5.35 | $ | 29.55 | 1,939,145 | 4.2 | $ | 26.75 | |||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||||
A summary of the status of the Company's plans that had restricted stock issued as of December 31, 2013, 2012 and 2011 and changes during the twelve months ended December 31, 2013, 2012 and 2011 are presented below: | |||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||
Number of Shares | Weighted-Average Grant Date Fair Value | Number of Shares | Weighted-Average Grant Date Fair Value | Number of Shares | Weighted-Average Grant Date Fair Value | ||||||||||||||
Beginning Balance | 1,875,065 | $ | 27.14 | 1,941,742 | $ | 23.83 | 1,987,705 | $ | 19.74 | ||||||||||
Granted | 512,398 | 41.01 | 638,618 | 33.43 | 565,982 | 33.47 | |||||||||||||
Vested | -573,920 | 26 | -544,528 | 22.38 | -476,650 | 18.82 | |||||||||||||
Forfeited | -77,719 | 34.62 | -160,767 | 28.36 | -135,295 | 21.67 | |||||||||||||
Ending Balance | 1,735,824 | $ | 32.49 | 1,875,065 | $ | 27.14 | 1,941,742 | $ | 23.83 | ||||||||||
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] | ' | ||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||||||||||
Number of PSUs | Weighted-Average Grant Date Fair Value | Number of PSUs | Weighted-Average Grant Date Fair Value | Number of PSUs | Weighted-Average Grant Date Fair Value | ||||||||||||||
Beginning Balance | 412,910 | $ | 49.14 | 508,616 | $ | 42.24 | 754,603 | $ | 19.66 | ||||||||||
Granted | 207,050 | 56.71 | 256,400 | 47.97 | 354,564 | 48.61 | |||||||||||||
Vested | -167,610 | 48.61 | -260,580 | 36.52 | -526,608 | 16.45 | |||||||||||||
Forfeited/cancelled | -41,850 | 50.39 | -91,526 | 43.45 | -73,943 | 25.98 | |||||||||||||
Ending Balance | 410,500 | $ | 53.04 | 412,910 | $ | 49.14 | 508,616 | $ | 42.24 |
COMPREHENSIVE_EARNINGS_TABLE
COMPREHENSIVE EARNINGS (TABLE) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Comprehensive deficit: | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
A summary of the balances within each classification of accumulated OCI (deficit) as of December 31, 2013 and 2012 | ||||||||||||
Cash Flow Hedge Activity | Defined Benefit Pension Plan Activity | OCI Valuation Allowance activity | Foreign Currency Translation Adjustment | Total | ||||||||
Balance as of December 31, 2011, net of tax | $ | -3 | $ | -226 | $ | -111 | $ | 25 | $ | -315 | ||
Amounts classified into AOCI, net of tax | $ | 2 | $ | -140 | $ | -3 | $ | 5 | $ | -136 | ||
Amounts reclassified from AOCI, net of tax | 0 | 87 | 0 | 0 | 87 | |||||||
Change in AOCI, net of tax | 2 | -53 | -3 | 5 | -49 | |||||||
Balance as of December 31, 2012, net of tax | $ | -1 | $ | -279 | $ | -114 | $ | 30 | $ | -364 | ||
Amounts classified into AOCI, net of tax | $ | 1 | $ | 15 | $ | -1 | $ | -28 | $ | -13 | ||
Amounts reclassified from AOCI, net of tax | 0 | 80 | 0 | 0 | 80 | |||||||
Change in AOCI, net of tax | 1 | 95 | -1 | -28 | 67 | |||||||
Balance as of December 31, 2013, net of tax | $ | 0 | $ | -184 | $ | -115 | $ | 2 | $ | -297 | ||
EARNINGS_PER_SHARE_TABLE
EARNINGS PER SHARE (TABLE) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Earnings Per Share Abstract | ' | ||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||||||
23. EARNINGS PER SHARE | |||||||||||||||||||||
The following table summarizes the number of shares outstanding as well as our basic and diluted earnings per share for the years ended December 31, 2013, 2012 and 2011 (in millions, except per share amounts): | |||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||
Dec. 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net earnings (loss) attributable to Owens Corning | $ | 204 | $ | -19 | $ | 276 | |||||||||||||||
Weighted-average number of shares outstanding used for | |||||||||||||||||||||
basic earnings per share | 118.2 | 119.4 | 122.5 | ||||||||||||||||||
Non-vested restricted and performance shares | 0.4 | - | 0.7 | ||||||||||||||||||
Options to purchase common stock | 0.5 | - | 0.3 | ||||||||||||||||||
Weighted-average number of shares outstanding and common | |||||||||||||||||||||
equivalent shares used for diluted earnings per share | 119.1 | 119.4 | 123.5 | ||||||||||||||||||
Earnings (loss) per common share attributable to Owens Corning common | |||||||||||||||||||||
stockholders: | |||||||||||||||||||||
Basic | $ | 1.73 | $ | -0.16 | $ | 2.25 | |||||||||||||||
Diluted | $ | 1.71 | $ | -0.16 | $ | 2.23 |
FAIR_VALUE_MEASUREMENT_TABLE
FAIR VALUE MEASUREMENT (TABLE) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ' | ||||||||||||||||||||||
The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of December 31, 2013 (in millions): | The following table summarizes the fair values, and levels within the fair value hierarchy in which the fair value measurements fall, for assets and liabilities measured on a recurring basis as of December 31, 2012 (in millions): | |||||||||||||||||||||||
Total Measured at Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Measured at Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | |||||||||||||||||
Assets: | Assets: | |||||||||||||||||||||||
Cash equivalents | $ | 20 | $ | 20 | $ | - | $ | - | Cash equivalents | $ | 1 | $ | 1 | $ | - | $ | - | |||||||
Term deposits | 2 | 2 | Term deposits | 1 | 1 | - | ||||||||||||||||||
Derivative assets | 1 | - | 1 | - | Derivative assets | 1 | - | 1 | - | |||||||||||||||
Total assets | $ | 23 | $ | 22 | $ | 1 | $ | - | Total assets | $ | 3 | $ | 2 | $ | 1 | $ | - | |||||||
Liabilities: | Liabilities: | |||||||||||||||||||||||
Derivative liabilities | $ | -4 | $ | - | $ | -4 | $ | - | Derivative liabilities | $ | -4 | $ | - | $ | -4 | $ | - | |||||||
Total liabilities | $ | -4 | $ | - | $ | -4 | $ | - | Total liabilities | $ | -4 | $ | - | $ | -4 | $ | - |
INCOME_TAXES_TABLE
INCOME TAXES (TABLE) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | ||||||||||||
25. INCOME TAXES | |||||||||||||
Twelve Months Ended | |||||||||||||
Dec. 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Earnings before taxes: | |||||||||||||
United States | $ | 196 | $ | 31 | $ | 202 | |||||||
Foreign | 77 | -71 | 151 | ||||||||||
Total | $ | 273 | $ | -40 | $ | 353 | |||||||
Schedule of Components of Income Tax Expense (Benefit), By Jurisdiction [Table Text Block] | ' | ||||||||||||
Income tax expense (benefit): | |||||||||||||
Current | |||||||||||||
United States | $ | -2 | $ | 1 | $ | -14 | |||||||
State and local | -2 | -2 | 2 | ||||||||||
Foreign | 30 | 20 | 28 | ||||||||||
Total current | 26 | 19 | 16 | ||||||||||
Deferred | |||||||||||||
United States | 56 | -22 | 61 | ||||||||||
State and local | 2 | 2 | 7 | ||||||||||
Foreign | -16 | -27 | -10 | ||||||||||
Total deferred | 42 | -47 | 58 | ||||||||||
Total income tax expense (benefit) | $ | 68 | $ | -28 | $ | 74 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
The reconciliation between the United States federal statutory rate and the Company's effective income tax rate from continuing operations is: | |||||||||||||
Twelve Months Ended | |||||||||||||
Dec. 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States federal statutory rate | 35 | % | -35 | % | 35 | % | |||||||
State and local income taxes, net of federal tax benefit | 2 | -5 | 2 | ||||||||||
Foreign tax rate differential | -11 | -60 | -10 | ||||||||||
US tax expense/benefit on foreign earnings/loss | -2 | -62 | -1 | ||||||||||
Valuation allowance | 17 | 127 | 2 | ||||||||||
Loss on liquidation | -10 | - | - | ||||||||||
Uncertain tax positions and settlements | -1 | -2 | -3 | ||||||||||
Other, net | -5 | -33 | -4 | ||||||||||
Effective tax rate | 25 | % | -70 | % | 21 | % | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
The cumulative temporary differences giving rise to the deferred tax assets and liabilities at December 31, 2013 and 2012 are as follows (in millions): | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred Tax Assets | Deferred Tax Liabilities | Deferred Tax Assets | Deferred Tax Liabilities | ||||||||||
Other employee benefits | $ | 153 | $ | - | $ | 160 | $ | - | |||||
Pension plans | 115 | - | 161 | - | |||||||||
Operating loss carryforwards | 1,117 | - | 1,080 | - | |||||||||
Depreciation | - | 338 | - | 332 | |||||||||
Amortization | - | 370 | - | 373 | |||||||||
State and local taxes | 6 | - | 5 | - | |||||||||
Other | 135 | - | 173 | - | |||||||||
Subtotal | 1,526 | 708 | 1,579 | 705 | |||||||||
Valuation allowances | -270 | - | -228 | - | |||||||||
Total deferred taxes | $ | 1,256 | $ | 708 | $ | 1,351 | $ | 705 | |||||
The Company had current deferred tax assets of $138 million and $80 million which are included in other current assets in the | |||||||||||||
Consolidated Balance Sheets as of December 31, 2013 and 2012, respectively. | |||||||||||||
Summary of Income Tax Contingencies [Table Text Block] | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions): | |||||||||||||
Twelve Months Ended | |||||||||||||
Dec. 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of period | $ | 161 | $ | 170 | $ | 210 | |||||||
Tax positions related to the current year | |||||||||||||
Gross additions | 2 | 12 | 8 | ||||||||||
Tax positions related to prior years | |||||||||||||
Gross additions | 4 | 7 | 6 | ||||||||||
Gross reductions | -1 | -14 | -46 | ||||||||||
Settlements | -3 | -13 | -7 | ||||||||||
Lapses on statutes of limitations | -8 | -1 | -1 | ||||||||||
Balance at end of period | $ | 155 | $ | 161 | $ | 170 | |||||||
QUARTERLY_FINANCIAL_DATA_TABLE
QUARTERLY FINANCIAL DATA (TABLE) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ' | ||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||
26. QUARTERLY FINANCIAL INFORMATION (unaudited) | Quarter | |||||||||||||||||||||||||||||||
2012 | First | Second | Third | Fourth | ||||||||||||||||||||||||||||
Select quarterly financial information is presented in the tables below for the quarterly periods of 2013 and 2012, respectively (in millions, except per share amounts): | Net sales | $ | 1,346 | $ | 1,391 | $ | 1,276 | $ | 1,159 | |||||||||||||||||||||||
Cost of sales | 1,160 | 1,152 | 1,074 | 989 | ||||||||||||||||||||||||||||
Quarter | Gross margin | 186 | 239 | 202 | 170 | |||||||||||||||||||||||||||
2013 | First | Second | Third | Fourth | Earnings (loss) before interest and taxes | -12 | 85 | 59 | 16 | |||||||||||||||||||||||
Net sales | $ | 1,350 | $ | 1,347 | $ | 1,320 | $ | 1,278 | Interest expense, net | 28 | 28 | 29 | 29 | |||||||||||||||||||
Cost of sales | 1,137 | 1,080 | 1,067 | 1,045 | Income tax expense | 5 | 17 | -14 | -36 | |||||||||||||||||||||||
Gross margin | 213 | 267 | 253 | 233 | Net earnings (loss) attributable to Owens Corning | $ | -46 | $ | 39 | $ | 44 | $ | -56 | |||||||||||||||||||
Earnings before interest and taxes | 57 | 118 | 106 | 104 | ||||||||||||||||||||||||||||
Interest expense, net | 29 | 29 | 29 | 25 | BASIC EARNINGS (LOSS) PER COMMON SHARE | |||||||||||||||||||||||||||
Income tax expense (benefit) | 6 | 39 | 26 | -3 | ATTRIBUTABLE TO OWENS CORNING | |||||||||||||||||||||||||||
Net earnings attributable to Owens Corning | $ | 22 | $ | 49 | $ | 51 | $ | 82 | COMMON STOCKHOLDERS | $ | -0.38 | $ | 0.32 | $ | 0.37 | $ | -0.47 | |||||||||||||||
BASIC EARNINGS PER COMMON SHARE | DILUTED EARNINGS (LOSS) PER COMMON SHARE | |||||||||||||||||||||||||||||||
ATTRIBUTABLE TO OWENS CORNING | ATTRIBUTABLE TO OWENS CORNING | |||||||||||||||||||||||||||||||
COMMON STOCKHOLDERS | $ | 0.19 | $ | 0.41 | $ | 0.43 | $ | 0.7 | COMMON STOCKHOLDERS | $ | -0.38 | $ | 0.32 | $ | 0.37 | $ | -0.47 | |||||||||||||||
DILUTED EARNINGS PER COMMON SHARE | During the first, second, third and fourth quarter 2012, the Company recorded additional pre-tax income (expense) of ($4) million ($3 million after tax expense), $1 million ($1 million after tax expense), ($7) million ($3 million after tax expense), and ($3) million ($2 million after tax expense) respectively; related to prior periods. The effect was not material to previously issued financial statements. | |||||||||||||||||||||||||||||||
ATTRIBUTABLE TO OWENS CORNING | ||||||||||||||||||||||||||||||||
COMMON STOCKHOLDERS | $ | 0.18 | $ | 0.41 | $ | 0.43 | $ | 0.69 | ||||||||||||||||||||||||
CHANGES_IN_ACCUMULATED_OTHER_C1
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (TABLE) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
A summary of the balances within each classification of accumulated OCI (deficit) as of December 31, 2013 and 2012 | ||||||||||||
Cash Flow Hedge Activity | Defined Benefit Pension Plan Activity | OCI Valuation Allowance activity | Foreign Currency Translation Adjustment | Total | ||||||||
Balance as of December 31, 2011, net of tax | $ | -3 | $ | -226 | $ | -111 | $ | 25 | $ | -315 | ||
Amounts classified into AOCI, net of tax | $ | 2 | $ | -140 | $ | -3 | $ | 5 | $ | -136 | ||
Amounts reclassified from AOCI, net of tax | 0 | 87 | 0 | 0 | 87 | |||||||
Change in AOCI, net of tax | 2 | -53 | -3 | 5 | -49 | |||||||
Balance as of December 31, 2012, net of tax | $ | -1 | $ | -279 | $ | -114 | $ | 30 | $ | -364 | ||
Amounts classified into AOCI, net of tax | $ | 1 | $ | 15 | $ | -1 | $ | -28 | $ | -13 | ||
Amounts reclassified from AOCI, net of tax | 0 | 80 | 0 | 0 | 80 | |||||||
Change in AOCI, net of tax | 1 | 95 | -1 | -28 | 67 | |||||||
Balance as of December 31, 2013, net of tax | $ | 0 | $ | -184 | $ | -115 | $ | 2 | $ | -297 | ||
CONDENSED_CONSOLIDATING_FINANC
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (TABLE) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Consolidating Company Disclosure [Abstract] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Earnings [Table Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS) | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2012 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
NET SALES | $ | - | $ | 3,730 | $ | 1,988 | $ | -423 | $ | 5,295 | NET SALES | $ | - | $ | 3,616 | $ | 1,932 | $ | -376 | $ | 5,172 | NET SALES | $ | - | $ | 3,641 | $ | 2,018 | $ | -324 | $ | 5,335 | ||||||||||||||||||||||
COST OF SALES | -10 | 3,085 | 1,677 | -423 | 4,329 | COST OF SALES | -9 | 3,015 | 1,745 | -376 | 4,375 | COST OF SALES | -23 | 3,015 | 1,639 | -324 | 4,307 | |||||||||||||||||||||||||||||||||||||
Gross margin | 10 | 645 | 311 | - | 966 | Gross margin | 9 | 601 | 187 | - | 797 | Gross margin | 23 | 626 | 379 | - | 1,028 | |||||||||||||||||||||||||||||||||||||
OPERATING EXPENSES | OPERATING EXPENSES | OPERATING EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Marketing and administrative expenses | 123 | 267 | 140 | - | 530 | Marketing and administrative expenses | 112 | 259 | 138 | - | 509 | Marketing and administrative expenses | 67 | 314 | 144 | - | 525 | |||||||||||||||||||||||||||||||||||||
Science and technology expenses | - | 58 | 19 | - | 77 | Science and technology expenses | - | 61 | 18 | - | 79 | Science and technology expenses | - | 61 | 16 | - | 77 | |||||||||||||||||||||||||||||||||||||
Charges related to cost reduction actions | - | - | 8 | - | 8 | Charges related to cost reduction actions | - | 51 | - | 51 | Other expenses (income), net | -88 | 15 | 38 | - | -35 | ||||||||||||||||||||||||||||||||||||||
Other expenses (income), net | -27 | -39 | 32 | - | -34 | Other expenses (income) | -37 | 24 | 23 | - | 10 | Total operating expenses | -21 | 390 | 198 | - | 567 | |||||||||||||||||||||||||||||||||||||
Total operating expenses | 96 | 286 | 199 | - | 581 | Total operating expenses | 75 | 344 | 230 | - | 649 | EARNINGS BEFORE INTEREST AND TAXES | 44 | 236 | 181 | - | 461 | |||||||||||||||||||||||||||||||||||||
EARNINGS BEFORE INTEREST AND TAXES | -86 | 359 | 112 | - | 385 | EARNINGS BEFORE INTEREST AND TAXES | -66 | 257 | -43 | - | 148 | Interest expense, net | 105 | -3 | 6 | - | 108 | |||||||||||||||||||||||||||||||||||||
Interest expense, net | 104 | 2 | 6 | - | 112 | Interest expense, net | 102 | 2 | 10 | - | 114 | EARNINGS (LOSS) BEFORE TAXES | -61 | 239 | 175 | - | 353 | |||||||||||||||||||||||||||||||||||||
EARNINGS (LOSS) BEFORE TAXES | -190 | 357 | 106 | - | 273 | Loss on extinguishment of debt | 74 | 74 | Less: Income tax expense (benefit) | -23 | 72 | 25 | - | 74 | ||||||||||||||||||||||||||||||||||||||||
Less: Income tax expense (benefit) | -72 | 121 | 19 | - | 68 | EARNINGS (LOSS) BEFORE TAXES | -242 | 255 | -53 | - | -40 | EARNINGS (LOSS) BEFORE EQUITY IN NET EARNINGS | ||||||||||||||||||||||||||||||||||||||||||
EARNINGS (LOSS) BEFORE EQUITY IN NET EARNINGS | Less: Income tax expense (benefit) | -92 | 64 | - | - | -28 | OF SUBSIDIARIES AND AFFILIATES | -38 | 167 | 150 | - | 279 | ||||||||||||||||||||||||||||||||||||||||||
OF SUBSIDIARIES AND AFFILIATES | -118 | 236 | 87 | - | 205 | EARNINGS (LOSS) BEFORE EQUITY IN NET | Equity in net earnings of subsidiaries | 314 | 149 | - | -463 | - | ||||||||||||||||||||||||||||||||||||||||||
Equity in net earnings of subsidiaries | 322 | 86 | - | -408 | - | EARNINGS (LOSS) OF SUBSIDIARIES AND | Equity in net earnings (loss) of affiliates | - | -2 | 4 | - | 2 | ||||||||||||||||||||||||||||||||||||||||||
Equity in net earnings of affiliates | - | - | - | - | 1 | - | AFFILIATES | -150 | 191 | -53 | - | -12 | NET EARNINGS (LOSS) | 276 | 314 | 154 | -463 | 281 | ||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) | 204 | 322 | 87 | -408 | 205 | Equity in net earnings of subsidiaries | 131 | -55 | - | -76 | - | Less: Net earnings attributable to noncontrolling interest | - | - | 5 | - | 5 | |||||||||||||||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | - | - | 1 | - | 1 | Equity in net earnings (loss) of affiliates | - | -5 | 1 | - | -4 | NET EARNINGS (LOSS) ATTRIBUTABLE TO | ||||||||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) ATTRIBUTABLE TO | NET EARNINGS (LOSS) | -19 | 131 | -52 | -76 | -16 | OWENS CORNING | $ | 276 | $ | 314 | $ | 149 | $ | -463 | $ | 276 | |||||||||||||||||||||||||||||||||||||
OWENS CORNING | $ | 204 | $ | 322 | $ | 86 | $ | -408 | $ | 204 | Less: Net earnings attributable to noncontrolling interest | - | - | 3 | - | 3 | ||||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) ATTRIBUTABLE TO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING | $ | -19 | $ | 131 | $ | -55 | $ | -76 | $ | -19 | ||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement Of Comprehensive Earnings [Table Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS (LOSS) | CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS | CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2012 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
NET EARNINGS (LOSS) | $ | 204 | $ | 322 | $ | 87 | $ | -408 | $ | 205 | NET EARNINGS (LOSS) | $ | -19 | $ | 131 | $ | -52 | $ | -76 | $ | -16 | NET EARNINGS (LOSS) | $ | 276 | $ | 314 | $ | 154 | $ | -463 | $ | 281 | ||||||||||||||||||||||
Currency translation adjustment | -28 | - | - | - | -28 | Currency translation adjustment | 5 | - | - | - | 5 | Currency translation adjustment | -39 | - | - | - | -39 | |||||||||||||||||||||||||||||||||||||
Pension and other postretirement adjustment (net of tax) | 94 | - | - | - | 94 | Pension and other postretirement adjustment (net of tax) | -56 | - | - | - | -56 | Pension and other postretirement adjustment (net of tax) | -80 | - | - | - | -80 | |||||||||||||||||||||||||||||||||||||
Deferred income (loss) on hedging (net of tax) | 1 | - | - | - | 1 | Deferred income (loss) on hedging (net of tax) | 2 | - | - | - | 2 | Deferred income (loss) on hedging (net of tax) | -2 | - | - | - | -2 | |||||||||||||||||||||||||||||||||||||
COMPREHENSIVE EARNINGS (LOSS) | 271 | 322 | 87 | -408 | 272 | COMPREHENSIVE EARNINGS (LOSS) | -68 | 131 | -52 | -76 | -65 | COMPREHENSIVE EARNINGS (LOSS) | 155 | 314 | 154 | -463 | 160 | |||||||||||||||||||||||||||||||||||||
Less: Comprehensive earnings attributable to noncontrolling interests | - | - | 1 | - | 1 | Less: Comprehensive earnings attributable to noncontrolling interests | - | - | 3 | - | 3 | Less: Comprehensive earnings attributable to noncontrolling interests | - | - | 5 | - | 5 | |||||||||||||||||||||||||||||||||||||
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING | $ | 271 | $ | 322 | $ | 86 | $ | -408 | $ | 271 | COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING | $ | -68 | $ | 131 | $ | -55 | $ | -76 | $ | -68 | COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING | $ | 155 | $ | 314 | $ | 149 | $ | -463 | $ | 155 | ||||||||||||||||||||||
Condensed Consolidating Balance Sheet [Table Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2013 | AS OF DECEMBER 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ASSETS | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | - | $ | 3 | $ | 54 | $ | - | $ | 57 | Cash and cash equivalents | $ | - | $ | 3 | $ | 52 | $ | - | $ | 55 | |||||||||||||||||||||||||||||||||
Receivables, net | - | - | 683 | - | 683 | Receivables, net | - | - | 600 | - | 600 | |||||||||||||||||||||||||||||||||||||||||||
Due from affiliates | - | 2,664 | - | -2,664 | - | Due from affiliates | - | 2,528 | - | -2,528 | - | |||||||||||||||||||||||||||||||||||||||||||
Inventories | - | 487 | 323 | - | 810 | Inventories | - | 473 | 313 | - | 786 | |||||||||||||||||||||||||||||||||||||||||||
Assets held for sale - current | - | - | 29 | - | 29 | Other current assets | 5 | 75 | 96 | - | 176 | |||||||||||||||||||||||||||||||||||||||||||
Other current assets | 45 | 141 | 83 | - | 269 | Total current assets | 5 | 3,079 | 1,061 | -2,528 | 1,617 | |||||||||||||||||||||||||||||||||||||||||||
Total current assets | 45 | 3,295 | 1,172 | -2,664 | 1,848 | Investment in subsidiaries | 6,877 | 2,489 | 558 | -9,924 | - | |||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | 7,228 | 2,557 | 558 | -10,343 | - | Due from affiliates | - | 65 | 1,022 | -1,087 | - | |||||||||||||||||||||||||||||||||||||||||||
Due from affiliates | - | 67 | 959 | -1,026 | - | Property, plant and equipment, net | 374 | 1,294 | 1,235 | - | 2,903 | |||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | 362 | 1,313 | 1,257 | - | 2,932 | Goodwill | - | 1,068 | 75 | - | 1,143 | |||||||||||||||||||||||||||||||||||||||||||
Goodwill | - | 1,127 | 39 | - | 1,166 | Intangible assets | - | 939 | 302 | -196 | 1,045 | |||||||||||||||||||||||||||||||||||||||||||
Intangible assets | - | 1,015 | 271 | -246 | 1,040 | Deferred income taxes | 54 | 525 | 25 | - | 604 | |||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | 14 | 416 | 6 | - | 436 | Other non-current assets | 62 | 74 | 120 | - | 256 | |||||||||||||||||||||||||||||||||||||||||||
Other non-current assets | 31 | 64 | 130 | - | 225 | TOTAL ASSETS | $ | 7,372 | $ | 9,533 | $ | 4,398 | $ | -13,735 | $ | 7,568 | ||||||||||||||||||||||||||||||||||||||
TOTAL ASSETS | $ | 7,680 | $ | 9,854 | $ | 4,392 | $ | -14,279 | $ | 7,647 | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | CURRENT LIABILITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||
CURRENT LIABILITIES | Accounts payable and accrued liabilities | $ | 8 | $ | 620 | $ | 279 | $ | - | $ | 907 | |||||||||||||||||||||||||||||||||||||||||||
Accounts payable and accrued liabilities | $ | 15 | $ | 608 | $ | 365 | $ | - | $ | 988 | Due to affiliates | 1,419 | - | 1,109 | -2,528 | - | ||||||||||||||||||||||||||||||||||||||
Due to affiliates | 1,688 | - | 976 | -2,664 | - | Short-term debt | - | - | 5 | - | 5 | |||||||||||||||||||||||||||||||||||||||||||
Short-term debt | - | - | 1 | - | 1 | Long-term debt – current portion | - | 2 | 2 | - | 4 | |||||||||||||||||||||||||||||||||||||||||||
Long-term debt – current portion | - | 2 | 1 | - | 3 | Total current liabilities | 1,427 | 622 | 1,395 | -2,528 | 916 | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 1,703 | 610 | 1,343 | -2,664 | 992 | Long-term debt, net of current portion | 1,884 | 28 | 164 | - | 2,076 | |||||||||||||||||||||||||||||||||||||||||||
Long-term debt, net of current portion | 1,814 | 26 | 184 | - | 2,024 | Due to affiliates | - | 1,022 | 65 | -1,087 | - | |||||||||||||||||||||||||||||||||||||||||||
Due to affiliates | - | 959 | 67 | -1,026 | - | Pension plan liability | 331 | - | 149 | - | 480 | |||||||||||||||||||||||||||||||||||||||||||
Pension plan liability | 213 | - | 123 | - | 336 | Other employee benefits liability | - | 254 | 20 | - | 274 | |||||||||||||||||||||||||||||||||||||||||||
Other employee benefits liability | - | 226 | 16 | - | 242 | Deferred income taxes | - | - | 38 | - | 38 | |||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | - | - | 23 | - | 23 | Other liabilities | 192 | 172 | 41 | -196 | 209 | |||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 158 | 246 | 42 | -246 | 200 | OWENS CORNING STOCKHOLDERS’ EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING STOCKHOLDERS’ EQUITY | Preferred stock | - | - | - | - | 1 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock | - | - | - | - | 1 | - | Common stock | 1 | - | - | - | 1 | ||||||||||||||||||||||||||||||||||||||||||
Common stock | 1 | - | - | - | 1 | Additional paid in capital | 3,925 | 6,541 | 2,062 | -8,603 | 3,925 | |||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 3,938 | 6,572 | 2,045 | -8,617 | 3,938 | Accumulated earnings | 451 | 894 | 427 | -1,321 | 451 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated earnings | 655 | 1,215 | 513 | -1,728 | 655 | Accumulated other comprehensive deficit | -364 | - | - | - | -364 | |||||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive deficit | -297 | - | - | - | -297 | Cost of common stock in treasury | -475 | - | - | - | -475 | |||||||||||||||||||||||||||||||||||||||||||
Cost of common stock in treasury | -504 | - | - | - | -504 | Total Owens Corning stockholders’ equity | 3,538 | 7,435 | 2,489 | -9,924 | 3,538 | |||||||||||||||||||||||||||||||||||||||||||
Total Owens Corning stockholders’ equity | 3,793 | 7,787 | 2,558 | -10,345 | 3,793 | Noncontrolling interests | - | - | 37 | - | 37 | |||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | - | - | 37 | - | 37 | Total equity | 3,538 | 7,435 | 2,526 | -9,924 | 3,575 | |||||||||||||||||||||||||||||||||||||||||||
Total equity | 3,793 | 7,787 | 2,595 | -10,345 | 3,830 | TOTAL LIABILITIES AND EQUITY | $ | 7,372 | $ | 9,533 | $ | 4,398 | $ | -13,735 | $ | 7,568 | ||||||||||||||||||||||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | $ | 7,681 | $ | 9,854 | $ | 4,393 | $ | -14,281 | $ | 7,647 | ||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows [Table Text Block] | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||
OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | OWENS CORNING AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2013 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2012 | FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | Parent | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||
NET CASH FLOW PROVIDED BY | NET CASH FLOW PROVIDED BY | NET CASH FLOW PROVIDED BY | ||||||||||||||||||||||||||||||||||||||||||||||||||||
OPERATING ACTIVITIES | $ | 126 | $ | 67 | $ | 225 | $ | - | $ | 418 | OPERATING ACTIVITIES | $ | -108 | $ | 239 | $ | 199 | $ | - | $ | 330 | OPERATING ACTIVITIES | $ | -70 | $ | 236 | $ | 123 | $ | - | $ | 289 | ||||||||||||||||||||||
NET CASH FLOW USED FOR INVESTING | NET CASH FLOW USED FOR | NET CASH FLOW USED FOR INVESTING | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ACTIVITIES | INVESTING ACTIVITIES | ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Additions to plant and equipment | -10 | -143 | -200 | - | -353 | Additions to plant and equipment | -35 | -174 | -123 | - | -332 | Additions to plant and equipment | -7 | -222 | -213 | - | -442 | |||||||||||||||||||||||||||||||||||||
Proceeds from the sale of assets or affiliates | 16 | - | - | - | 16 | Proceeds from the sale of assets or affiliates | 42 | 5 | 12 | - | 59 | Proceeds from the sale of assets or affiliates | - | 3 | 78 | - | 81 | |||||||||||||||||||||||||||||||||||||
Investment in subsidiaries and affiliates, net | - | -51 | -11 | - | -62 | Proceeds from Hurricane Sandy insurance claims | - | 20 | - | - | 20 | Investment in subsidiaries and affiliates, net | - | -84 | - | - | -84 | |||||||||||||||||||||||||||||||||||||
Proceeds from Hurricane Sandy insurance claims | - | 58 | - | - | 58 | Net cash flow used for investing activities | 7 | -149 | -111 | - | -253 | Net cash flow used for investing activities | -7 | -303 | -135 | - | -445 | |||||||||||||||||||||||||||||||||||||
Deposit related to sale of Hangzhou, China plant | - | - | 34 | - | 34 | NET CASH FLOW PROVIDED BY (USED FOR) | NET CASH FLOW PROVIDED BY (USED FOR) | |||||||||||||||||||||||||||||||||||||||||||||||
Net cash flow used for investing activities | 6 | -136 | -177 | - | -307 | FINANCING ACTIVITIES | FINANCING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||
NET CASH FLOW PROVIDED BY (USED FOR) | Proceeds from senior revolving credit and receivables securitization facilities | 1,564 | - | 313 | - | 1,877 | Proceeds from senior revolving credit facility | 1,547 | - | 365 | - | 1,912 | ||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES | Payments on senior revolving credit and receivables securitization facilities | -1,627 | - | -330 | - | -1,957 | Payments on senior revolving credit facility | -1,423 | - | -207 | - | -1,630 | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from senior revolving credit and receivables securitization facilities | 940 | - | 123 | - | 1,063 | Proceeds from long-term debt | 599 | - | - | - | 599 | Proceeds from long-term debt | - | - | 6 | - | 6 | |||||||||||||||||||||||||||||||||||||
Payments on senior revolving credit and receivables securitization facilities | -1,002 | - | -101 | - | -1,103 | Payments on long-term debt | -430 | - | -11 | - | -441 | Payments on long-term debt | - | - | -10 | - | -10 | |||||||||||||||||||||||||||||||||||||
Payments on long-term debt | - | - | -2 | - | -2 | Purchase of noncontrolling interest | - | -22 | - | - | -22 | Net increase (decrease) in short-term debt | 8 | - | 18 | - | 26 | |||||||||||||||||||||||||||||||||||||
Net increase (decrease) in short-term debt | - | - | -4 | - | -4 | Net increase (decrease) in short-term debt | -8 | - | -15 | - | -23 | Purchase of treasury stock | -138 | - | - | - | -138 | |||||||||||||||||||||||||||||||||||||
Purchases of treasury stock | -63 | - | - | - | -63 | Purchases of treasury stock | -113 | - | - | - | -113 | Other | 8 | - | - | - | 8 | |||||||||||||||||||||||||||||||||||||
Other | 2 | - | - | - | 2 | Other | 4 | - | - | - | 4 | Other intercompany loans | 72 | 67 | -139 | - | - | |||||||||||||||||||||||||||||||||||||
Other intercompany loans | -9 | 69 | -60 | - | - | Other intercompany loans | 112 | -65 | -47 | - | - | Net cash flow provided by (used for) financing activities | 74 | 67 | 33 | - | 174 | |||||||||||||||||||||||||||||||||||||
Net cash flow provided by (used for) financing | Net cash flow provided by (used for) financing activities | 101 | -87 | -90 | - | -76 | Effect of exchange rate changes on cash | - | - | -18 | - | -18 | ||||||||||||||||||||||||||||||||||||||||||
activities | -132 | 69 | -44 | - | -107 | Effect of exchange rate changes on cash | - | - | 2 | - | 2 | Net increase in cash and cash equivalents | -3 | - | 3 | - | - | |||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash | - | - | -2 | - | -2 | Net increase in cash and cash equivalents | - | 3 | - | - | 3 | Cash and cash equivalents at beginning of period | 3 | - | 49 | - | 52 | |||||||||||||||||||||||||||||||||||||
Net increase in cash and cash equivalents | - | - | 2 | - | 2 | Cash and cash equivalents at beginning of period | - | - | 52 | - | 52 | CASH AND CASH EQUIVALENTS AT END OF | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | - | 3 | 52 | - | 55 | CASH AND CASH EQUIVALENTS AT END OF | PERIOD | $ | - | $ | - | $ | 52 | $ | - | $ | 52 | |||||||||||||||||||||||||||||||||||||
CASH AND CASH EQUIVALENTS AT END OF | PERIOD | $ | - | $ | 3 | $ | 52 | $ | - | $ | 55 | |||||||||||||||||||||||||||||||||||||||||||
PERIOD | $ | - | $ | 3 | $ | 54 | $ | - | $ | 57 | ||||||||||||||||||||||||||||||||||||||||||||
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (DETAIL) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | $1,278 | $1,320 | $1,347 | $1,350 | $1,159 | $1,276 | $1,391 | $1,346 | $5,295 | $5,172 | $5,335 |
COST OF SALES | 1,045 | 1,067 | 1,080 | 1,137 | 989 | 1,074 | 1,152 | 1,160 | 4,329 | 4,375 | 4,307 |
Gross margin | 233 | 253 | 267 | 213 | 170 | 202 | 239 | 186 | 966 | 797 | 1,028 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 530 | 509 | 525 |
Science and technology expenses | ' | ' | ' | ' | ' | ' | ' | ' | 77 | 79 | 77 |
Charges related to cost reduction actions | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 51 | 0 |
Employee emergence equity program expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Expenses, net | ' | ' | ' | ' | ' | ' | ' | ' | -34 | 10 | -35 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 581 | 649 | 567 |
Earnings Before Interest And Taxes | 104 | 106 | 118 | 57 | 16 | 59 | 85 | -12 | 385 | 148 | 461 |
Interest expense, net | 25 | 29 | 29 | 29 | 29 | 29 | 28 | 28 | 112 | 114 | 108 |
EARNINGS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | 273 | -40 | 353 |
Income Tax Expense (Benefit) | 3 | -26 | -39 | -6 | 36 | 14 | -17 | -5 | -68 | 28 | -74 |
Equity in net earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -4 | 2 |
NET EARNINGS | ' | ' | ' | ' | ' | ' | ' | ' | 205 | -16 | 281 |
Less: Net earnings attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 3 | 5 |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | 82 | 51 | 49 | 22 | -56 | 44 | 39 | -46 | 204 | -19 | 276 |
Parent Company Member | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
COST OF SALES | ' | ' | ' | ' | ' | ' | ' | ' | -10 | -9 | -23 |
Gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 10 | 9 | 23 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 123 | 112 | 67 |
Science and technology expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Charges related to cost reduction actions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Expenses, net | ' | ' | ' | ' | ' | ' | ' | ' | -27 | -37 | -88 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 96 | 75 | -21 |
Earnings Before Interest And Taxes | ' | ' | ' | ' | ' | ' | ' | ' | -86 | -66 | 44 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 104 | 102 | 105 |
EARNINGS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | -190 | -242 | -61 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 72 | 92 | 23 |
Income (Loss) From Continuing Operations Before Minority Interest and Income (Loss) From Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | -118 | -150 | -38 |
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 322 | 131 | 314 |
Equity in net earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET EARNINGS | ' | ' | ' | ' | ' | ' | ' | ' | 204 | -19 | 276 |
Less: Net earnings attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | ' | ' | ' | ' | ' | ' | ' | ' | 204 | -19 | 276 |
Guarantor Subsidiaries Member | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 3,730 | 3,616 | 3,641 |
COST OF SALES | ' | ' | ' | ' | ' | ' | ' | ' | 3,085 | 3,015 | 3,015 |
Gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 645 | 601 | 626 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 267 | 259 | 314 |
Science and technology expenses | ' | ' | ' | ' | ' | ' | ' | ' | 58 | 61 | 61 |
Charges related to cost reduction actions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 |
Other Expenses, net | ' | ' | ' | ' | ' | ' | ' | ' | -39 | 24 | 15 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 286 | 344 | 390 |
Earnings Before Interest And Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 359 | 257 | 236 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | -3 |
EARNINGS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | 357 | 255 | 239 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -121 | -64 | -72 |
Income (Loss) From Continuing Operations Before Minority Interest and Income (Loss) From Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 236 | 191 | 167 |
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 86 | -55 | 149 |
Equity in net earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -5 | -2 |
NET EARNINGS | ' | ' | ' | ' | ' | ' | ' | ' | 322 | 131 | 314 |
Less: Net earnings attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | ' | ' | ' | ' | ' | ' | ' | ' | 322 | 131 | 314 |
Non Guarantor Subsidiaries Member | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | 1,988 | 1,932 | 2,018 |
COST OF SALES | ' | ' | ' | ' | ' | ' | ' | ' | 1,677 | 1,745 | 1,639 |
Gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 311 | 187 | 379 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 140 | 138 | 144 |
Science and technology expenses | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 18 | 16 |
Charges related to cost reduction actions | ' | ' | ' | ' | ' | ' | ' | ' | 8 | 51 | 0 |
Other Expenses, net | ' | ' | ' | ' | ' | ' | ' | ' | 32 | 23 | 38 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 199 | 230 | 198 |
Earnings Before Interest And Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 112 | -43 | 181 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 10 | 6 |
EARNINGS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | 106 | -53 | 175 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -19 | 0 | -25 |
Income (Loss) From Continuing Operations Before Minority Interest and Income (Loss) From Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 87 | -53 | 150 |
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in net earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1 | 4 |
NET EARNINGS | ' | ' | ' | ' | ' | ' | ' | ' | 87 | -52 | 154 |
Less: Net earnings attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 3 | 5 |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | ' | ' | ' | ' | ' | ' | ' | ' | 86 | -55 | 149 |
Consolidation Eliminations Member | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET SALES | ' | ' | ' | ' | ' | ' | ' | ' | -423 | -376 | -324 |
COST OF SALES | ' | ' | ' | ' | ' | ' | ' | ' | -423 | -376 | -324 |
Gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
OPERATING EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Science and technology expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Charges related to cost reduction actions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Expenses, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Earnings Before Interest And Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
EARNINGS BEFORE TAXES | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income (Loss) From Continuing Operations Before Minority Interest and Income (Loss) From Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -408 | -76 | -463 |
Equity in net earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET EARNINGS | ' | ' | ' | ' | ' | ' | ' | ' | -408 | -76 | -463 |
Less: Net earnings attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | ' | ' | ' | ' | ' | ' | ' | ' | ($408) | ($76) | ($463) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' |
NET EARNINGS | $205 | ($16) | $281 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | -28 | 5 | ' |
Pension and other postretirement adjustment (net of tax) | 95 | -53 | ' |
Deferred loss on hedging transactions (net of tax) | 1 | 2 | ' |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 1 | 3 | 5 |
Comprehensive Income Net Of Tax | 271 | -68 | 155 |
Parent Company Member | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' |
NET EARNINGS | 204 | -19 | 276 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | -28 | 5 | -39 |
Pension and other postretirement adjustment (net of tax) | 94 | -56 | -80 |
Deferred loss on hedging transactions (net of tax) | ' | 2 | -2 |
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 271 | -68 | 155 |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 0 | 0 | 0 |
Comprehensive Income Net Of Tax | 271 | -68 | 155 |
Guarantor Subsidiaries Member | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' |
NET EARNINGS | 322 | 131 | 314 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | 0 | 0 |
Pension and other postretirement adjustment (net of tax) | 0 | 0 | 0 |
Deferred loss on hedging transactions (net of tax) | 0 | 0 | 0 |
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 322 | 131 | 314 |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 0 | 0 | 0 |
Comprehensive Income Net Of Tax | 322 | 131 | 314 |
Non Guarantor Subsidiaries Member | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' |
NET EARNINGS | 87 | -52 | 154 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | 0 | 0 |
Pension and other postretirement adjustment (net of tax) | 0 | 0 | 0 |
Deferred loss on hedging transactions (net of tax) | 0 | 0 | 0 |
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 87 | -52 | 154 |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 1 | 3 | 5 |
Comprehensive Income Net Of Tax | 86 | -55 | 149 |
Consolidation Eliminations Member | ' | ' | ' |
Condensed Financial Statements Captions [Line Items] | ' | ' | ' |
NET EARNINGS | -408 | -76 | -463 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | 0 | 0 |
Pension and other postretirement adjustment (net of tax) | 0 | 0 | 0 |
Deferred loss on hedging transactions (net of tax) | 0 | 0 | 0 |
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest | -408 | -76 | -463 |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | 0 | 0 | 0 |
Comprehensive Income Net Of Tax | ($408) | ($76) | ($463) |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEET (DETAIL) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Millions, unless otherwise specified | ||||||
CURRENT ASSETS | ' | ' | ' | ' | ||
Cash and cash equivalents | $57 | $55 | $52 | $52 | ||
Receivables, less allowances | 683 | 600 | ' | ' | ||
Inventories | 810 | 786 | ' | ' | ||
Assets held for sale - current | 29 | 0 | ' | ' | ||
Other current assets | 269 | 176 | ' | ' | ||
Total current assets | 1,848 | 1,617 | ' | ' | ||
Property, plant and equipment, net | 2,932 | 2,903 | ' | ' | ||
Goodwill | 1,166 | 1,143 | ' | ' | ||
Intangible assets | 1,040 | 1,045 | ' | ' | ||
Deferred income taxes | 436 | 604 | ' | ' | ||
Other non-current assets | 225 | 256 | ' | ' | ||
TOTAL ASSETS | 7,647 | 7,568 | ' | ' | ||
CURRENT LIABILITIES | ' | ' | ' | ' | ||
Accounts Payable and Accrued Liabilities, Current | 988 | 907 | ' | ' | ||
Short-term debt | 1 | 5 | ' | ' | ||
Long-term debt - current portion | 3 | 4 | ' | ' | ||
Total current liabilities | 992 | 916 | ' | ' | ||
Long-term debt, net of current portion | 2,024 | 2,076 | ' | ' | ||
Pension plan liability | 336 | 480 | ' | ' | ||
Other employee benefits liability | 242 | 274 | ' | ' | ||
Deferred income tax liability | 23 | 38 | ' | ' | ||
Other liabilities | 200 | 209 | ' | ' | ||
Commitments and Contingencies | ' | ' | ' | ' | ||
OWENS CORNING STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||
Additional paid in capital | 3,938 | 3,925 | ' | ' | ||
Accumulated earnings (deficit) | 655 | 451 | ' | ' | ||
Accumulated other comprehensive deficit | -297 | -364 | ' | ' | ||
Cost of common stock in treasury | -504 | [1] | -475 | [1] | ' | ' |
Total Owens Corning stockholders' equity | 3,793 | 3,538 | ' | ' | ||
Noncontrolling interest | 37 | 37 | ' | ' | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,830 | 3,575 | 3,741 | 3,686 | ||
TOTAL LIABILITIES AND EQUITY | 7,647 | 7,568 | ' | ' | ||
Parent Company Member | ' | ' | ' | ' | ||
CURRENT ASSETS | ' | ' | ' | ' | ||
Cash and cash equivalents | 0 | 0 | 0 | ' | ||
Receivables, less allowances | 0 | 0 | ' | ' | ||
Due From Affiliate Current | 0 | 0 | ' | ' | ||
Inventories | 0 | 0 | ' | ' | ||
Assets held for sale - current | ' | 0 | ' | ' | ||
Other current assets | 45 | 5 | ' | ' | ||
Total current assets | 45 | 5 | ' | ' | ||
Equity Method Investments | 7,228 | 6,877 | ' | ' | ||
Due From Affiliate Noncurrent | 0 | 0 | ' | ' | ||
Property, plant and equipment, net | 362 | 374 | ' | ' | ||
Goodwill | 0 | 0 | ' | ' | ||
Intangible assets | 0 | 0 | ' | ' | ||
Deferred income taxes | 14 | 54 | ' | ' | ||
Assets Held for Sale - Non-Current | ' | 0 | ' | ' | ||
Other non-current assets | 31 | 62 | ' | ' | ||
TOTAL ASSETS | 7,680 | 7,372 | ' | ' | ||
CURRENT LIABILITIES | ' | ' | ' | ' | ||
Accounts Payable and Accrued Liabilities, Current | 15 | 8 | ' | ' | ||
Due To Affiliate Current | 1,688 | 1,419 | ' | ' | ||
Short-term debt | 0 | 0 | ' | ' | ||
Long-term debt - current portion | 0 | 0 | ' | ' | ||
Liabilities held for sale - current | ' | 0 | ' | ' | ||
Total current liabilities | 1,703 | 1,427 | ' | ' | ||
Long-term debt, net of current portion | 1,814 | 1,884 | ' | ' | ||
Due To Affiliate Noncurrent | 0 | 0 | ' | ' | ||
Pension plan liability | 213 | 331 | ' | ' | ||
Other employee benefits liability | 0 | 0 | ' | ' | ||
Deferred income tax liability | 0 | 0 | ' | ' | ||
Other liabilities | 158 | 192 | ' | ' | ||
OWENS CORNING STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||
Additional paid in capital | 3,938 | 3,925 | ' | ' | ||
Accumulated earnings (deficit) | 655 | 451 | ' | ' | ||
Accumulated other comprehensive deficit | -297 | -364 | ' | ' | ||
Cost of common stock in treasury | -504 | -475 | ' | ' | ||
Total Owens Corning stockholders' equity | 3,793 | 3,538 | ' | ' | ||
Noncontrolling interest | 0 | 0 | ' | ' | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,793 | 3,538 | ' | ' | ||
TOTAL LIABILITIES AND EQUITY | 7,681 | 7,372 | ' | ' | ||
Guarantor Subsidiaries Member | ' | ' | ' | ' | ||
CURRENT ASSETS | ' | ' | ' | ' | ||
Cash and cash equivalents | 3 | 3 | 0 | ' | ||
Receivables, less allowances | 0 | 0 | ' | ' | ||
Due From Affiliate Current | 2,664 | 2,528 | ' | ' | ||
Inventories | 487 | 473 | ' | ' | ||
Assets held for sale - current | ' | 0 | ' | ' | ||
Other current assets | 141 | 75 | ' | ' | ||
Total current assets | 3,295 | 3,079 | ' | ' | ||
Equity Method Investments | 2,557 | 2,489 | ' | ' | ||
Due From Affiliate Noncurrent | 67 | 65 | ' | ' | ||
Property, plant and equipment, net | 1,313 | 1,294 | ' | ' | ||
Goodwill | 1,127 | 1,068 | ' | ' | ||
Intangible assets | 1,015 | 939 | ' | ' | ||
Deferred income taxes | 416 | 525 | ' | ' | ||
Assets Held for Sale - Non-Current | ' | 0 | ' | ' | ||
Other non-current assets | 64 | 74 | ' | ' | ||
TOTAL ASSETS | 9,854 | 9,533 | ' | ' | ||
CURRENT LIABILITIES | ' | ' | ' | ' | ||
Accounts Payable and Accrued Liabilities, Current | 608 | 620 | ' | ' | ||
Due To Affiliate Current | 0 | 0 | ' | ' | ||
Short-term debt | 0 | 0 | ' | ' | ||
Long-term debt - current portion | 2 | 2 | ' | ' | ||
Liabilities held for sale - current | ' | 0 | ' | ' | ||
Total current liabilities | 610 | 622 | ' | ' | ||
Long-term debt, net of current portion | 26 | 28 | ' | ' | ||
Due To Affiliate Noncurrent | 959 | 1,022 | ' | ' | ||
Pension plan liability | 0 | 0 | ' | ' | ||
Other employee benefits liability | 226 | 254 | ' | ' | ||
Deferred income tax liability | 0 | 0 | ' | ' | ||
Other liabilities | 246 | 172 | ' | ' | ||
OWENS CORNING STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||
Additional paid in capital | 6,572 | 6,541 | ' | ' | ||
Accumulated earnings (deficit) | 1,215 | 894 | ' | ' | ||
Accumulated other comprehensive deficit | 0 | 0 | ' | ' | ||
Cost of common stock in treasury | 0 | 0 | ' | ' | ||
Total Owens Corning stockholders' equity | 7,787 | 7,435 | ' | ' | ||
Noncontrolling interest | 0 | 0 | ' | ' | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 7,787 | 7,435 | ' | ' | ||
TOTAL LIABILITIES AND EQUITY | 9,854 | 9,533 | ' | ' | ||
Non Guarantor Subsidiaries Member | ' | ' | ' | ' | ||
CURRENT ASSETS | ' | ' | ' | ' | ||
Cash and cash equivalents | 54 | 52 | 52 | ' | ||
Receivables, less allowances | 683 | 600 | ' | ' | ||
Due From Affiliate Current | 0 | 0 | ' | ' | ||
Inventories | 323 | 313 | ' | ' | ||
Assets held for sale - current | ' | 0 | ' | ' | ||
Other current assets | 83 | 96 | ' | ' | ||
Total current assets | 1,172 | 1,061 | ' | ' | ||
Equity Method Investments | 558 | 558 | ' | ' | ||
Due From Affiliate Noncurrent | 959 | 1,022 | ' | ' | ||
Property, plant and equipment, net | 1,257 | 1,235 | ' | ' | ||
Goodwill | 39 | 75 | ' | ' | ||
Intangible assets | 271 | 302 | ' | ' | ||
Deferred income taxes | 6 | 25 | ' | ' | ||
Assets Held for Sale - Non-Current | ' | 0 | ' | ' | ||
Other non-current assets | 130 | 120 | ' | ' | ||
TOTAL ASSETS | 4,392 | 4,398 | ' | ' | ||
CURRENT LIABILITIES | ' | ' | ' | ' | ||
Accounts Payable and Accrued Liabilities, Current | 365 | 279 | ' | ' | ||
Due To Affiliate Current | 976 | 1,109 | ' | ' | ||
Short-term debt | 1 | 5 | ' | ' | ||
Long-term debt - current portion | 1 | 2 | ' | ' | ||
Liabilities held for sale - current | ' | 0 | ' | ' | ||
Total current liabilities | 1,343 | 1,395 | ' | ' | ||
Long-term debt, net of current portion | 184 | 164 | ' | ' | ||
Due To Affiliate Noncurrent | 67 | 65 | ' | ' | ||
Pension plan liability | 123 | 149 | ' | ' | ||
Other employee benefits liability | 16 | 20 | ' | ' | ||
Deferred income tax liability | 23 | 38 | ' | ' | ||
Other liabilities | 42 | 41 | ' | ' | ||
OWENS CORNING STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||
Additional paid in capital | 2,045 | 2,062 | ' | ' | ||
Accumulated earnings (deficit) | 513 | 427 | ' | ' | ||
Accumulated other comprehensive deficit | 0 | 0 | ' | ' | ||
Cost of common stock in treasury | 0 | 0 | ' | ' | ||
Total Owens Corning stockholders' equity | 2,558 | 2,489 | ' | ' | ||
Noncontrolling interest | 37 | 37 | ' | ' | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 2,595 | 2,526 | ' | ' | ||
TOTAL LIABILITIES AND EQUITY | 4,393 | 4,398 | ' | ' | ||
Consolidation Eliminations Member | ' | ' | ' | ' | ||
CURRENT ASSETS | ' | ' | ' | ' | ||
Cash and cash equivalents | 0 | 0 | 0 | ' | ||
Receivables, less allowances | 0 | 0 | ' | ' | ||
Due From Affiliate Current | -2,664 | -2,528 | ' | ' | ||
Inventories | 0 | 0 | ' | ' | ||
Assets held for sale - current | ' | 0 | ' | ' | ||
Other current assets | 0 | 0 | ' | ' | ||
Total current assets | -2,664 | -2,528 | ' | ' | ||
Equity Method Investments | -10,343 | -9,924 | ' | ' | ||
Due From Affiliate Noncurrent | -1,026 | -1,087 | ' | ' | ||
Property, plant and equipment, net | 0 | 0 | ' | ' | ||
Goodwill | 0 | 0 | ' | ' | ||
Intangible assets | -246 | -196 | ' | ' | ||
Deferred income taxes | 0 | 0 | ' | ' | ||
Assets Held for Sale - Non-Current | ' | 0 | ' | ' | ||
Other non-current assets | 0 | 0 | ' | ' | ||
TOTAL ASSETS | -14,279 | -13,735 | ' | ' | ||
CURRENT LIABILITIES | ' | ' | ' | ' | ||
Accounts Payable and Accrued Liabilities, Current | 0 | 0 | ' | ' | ||
Due To Affiliate Current | -2,664 | -2,528 | ' | ' | ||
Short-term debt | 0 | 0 | ' | ' | ||
Long-term debt - current portion | 0 | 0 | ' | ' | ||
Liabilities held for sale - current | ' | 0 | ' | ' | ||
Total current liabilities | -2,664 | -2,528 | ' | ' | ||
Long-term debt, net of current portion | 0 | 0 | ' | ' | ||
Due To Affiliate Noncurrent | -1,026 | -1,087 | ' | ' | ||
Pension plan liability | 0 | 0 | ' | ' | ||
Other employee benefits liability | 0 | 0 | ' | ' | ||
Deferred income tax liability | 0 | 0 | ' | ' | ||
Other liabilities | -246 | -196 | ' | ' | ||
OWENS CORNING STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ||
Additional paid in capital | -8,617 | -8,603 | ' | ' | ||
Accumulated earnings (deficit) | -1,728 | -1,321 | ' | ' | ||
Accumulated other comprehensive deficit | 0 | 0 | ' | ' | ||
Cost of common stock in treasury | 0 | 0 | ' | ' | ||
Total Owens Corning stockholders' equity | -10,345 | -9,924 | ' | ' | ||
Noncontrolling interest | 0 | 0 | ' | ' | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | -10,345 | -9,924 | ' | ' | ||
TOTAL LIABILITIES AND EQUITY | ($14,281) | ($13,735) | ' | ' | ||
[1] | 17.7 shares at Dec. 31, 2013 and 17.3 shares at Dec. 31, 2012 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES ABSTRACT | ' | ' | ' |
NET EARNINGS | $205 | ($16) | $281 |
Adjustments to reconcile net earnings to cash provided by (used for) operating activities: | ' | ' | ' |
Depreciation and amortization | 332 | 349 | 318 |
Gain on sale of business and fixed assets | -6 | -17 | -30 |
Change in deferred income taxes | 54 | -59 | 55 |
Provision for pension and other employee benefits liabilities | 23 | 36 | 36 |
Share Based Compensation | 28 | 24 | 21 |
Other non-cash | -18 | -14 | -22 |
Change in working capital | ' | ' | ' |
Pension fund contribution | -39 | -50 | -117 |
Payments for other employee benefits liabilities | -22 | -22 | -24 |
Other | -27 | 39 | 33 |
Net cash flow provided by (used for) operating activities | 418 | 330 | 289 |
NET CASH FLOW USED FOR INVESTING ACTIVITIES ABSTRACT | ' | ' | ' |
Additions to plant and equipment | -353 | -332 | -442 |
Payments to Acquire Businesses, Net of Cash Acquired | 62 | 0 | 84 |
Net cash flow used for investing activities | -307 | -253 | -445 |
proceedsfromdivestitureofbusinessesandinterestsinaffiliates | 16 | 59 | 81 |
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES ABSTRACT | ' | ' | ' |
Proceeds from senior revolving credit and receivables securitization facilities | 1,063 | 1,877 | 1,912 |
Payments on senior revolving credit and receivables securitization facilities | -1,103 | -1,957 | -1,630 |
Proceeds from long-term debt | 0 | 599 | 6 |
Payments on long-term debt | -2 | -441 | -10 |
Net decrease in short-term debt | -4 | -23 | 26 |
Purchase of noncontrolling interest | 0 | -22 | 0 |
Purchase of treasury stock | -63 | -113 | -138 |
Other Financing | 2 | 4 | 8 |
Net cash flow provided by (used for) financing activities | -107 | -76 | 174 |
Effect of exchange rate changes on cash | -2 | 2 | -18 |
Net decrease in cash and cash equivalents | 2 | 3 | 0 |
Cash and cash equivalents at beginning of period | 55 | 52 | 52 |
Cash and cash equivalents at end of period | 57 | 55 | 52 |
Parent Company Member | ' | ' | ' |
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES ABSTRACT | ' | ' | ' |
NET EARNINGS | 204 | -19 | 276 |
Adjustments to reconcile net earnings to cash provided by (used for) operating activities: | ' | ' | ' |
Net cash flow provided by (used for) operating activities | 126 | -108 | -70 |
NET CASH FLOW USED FOR INVESTING ACTIVITIES ABSTRACT | ' | ' | ' |
Additions to plant and equipment | -10 | -35 | -7 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 0 | ' |
Net cash flow used for investing activities | 6 | 7 | -7 |
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES ABSTRACT | ' | ' | ' |
Proceeds from senior revolving credit and receivables securitization facilities | 940 | 1,564 | 1,547 |
Payments on senior revolving credit and receivables securitization facilities | -1,002 | -1,627 | -1,423 |
Proceeds from long-term debt | 0 | 599 | 0 |
Payments on long-term debt | 0 | -430 | 0 |
Net decrease in short-term debt | 0 | -8 | 8 |
Purchase of noncontrolling interest | 0 | ' | 0 |
Purchase of treasury stock | -63 | -113 | -138 |
Proceeds from Loans and Advances from Parent | ' | 112 | 72 |
Intercompany Loans | -9 | ' | ' |
Other Financing | 2 | 4 | 8 |
Net cash flow provided by (used for) financing activities | -132 | 101 | 74 |
Effect of exchange rate changes on cash | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | 0 | 0 | -3 |
Cash and cash equivalents at beginning of period | 0 | 0 | ' |
Cash and cash equivalents at end of period | 0 | 0 | 0 |
Guarantor Subsidiaries Member | ' | ' | ' |
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES ABSTRACT | ' | ' | ' |
NET EARNINGS | 322 | 131 | 314 |
Adjustments to reconcile net earnings to cash provided by (used for) operating activities: | ' | ' | ' |
Net cash flow provided by (used for) operating activities | 67 | 239 | 236 |
NET CASH FLOW USED FOR INVESTING ACTIVITIES ABSTRACT | ' | ' | ' |
Additions to plant and equipment | -143 | -174 | -222 |
Payments to Acquire Businesses, Net of Cash Acquired | 51 | -20 | ' |
Net cash flow used for investing activities | -136 | -149 | -303 |
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES ABSTRACT | ' | ' | ' |
Proceeds from senior revolving credit and receivables securitization facilities | 0 | 0 | 0 |
Payments on senior revolving credit and receivables securitization facilities | 0 | 0 | 0 |
Proceeds from long-term debt | 0 | 0 | 0 |
Payments on long-term debt | 0 | 0 | 0 |
Net decrease in short-term debt | 0 | 0 | 0 |
Purchase of noncontrolling interest | 0 | ' | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from Loans and Advances from Parent | ' | -65 | 67 |
Intercompany Loans | 69 | ' | ' |
Other Financing | 0 | 0 | 0 |
Net cash flow provided by (used for) financing activities | 69 | -87 | 67 |
Effect of exchange rate changes on cash | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | 0 | 3 | 0 |
Cash and cash equivalents at beginning of period | 3 | 0 | ' |
Cash and cash equivalents at end of period | 3 | 3 | 0 |
Non Guarantor Subsidiaries Member | ' | ' | ' |
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES ABSTRACT | ' | ' | ' |
NET EARNINGS | 87 | -52 | 154 |
Adjustments to reconcile net earnings to cash provided by (used for) operating activities: | ' | ' | ' |
Net cash flow provided by (used for) operating activities | 225 | 199 | 123 |
NET CASH FLOW USED FOR INVESTING ACTIVITIES ABSTRACT | ' | ' | ' |
Additions to plant and equipment | -200 | -123 | -213 |
Payments to Acquire Businesses, Net of Cash Acquired | 11 | 0 | ' |
Net cash flow used for investing activities | -177 | -111 | -135 |
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES ABSTRACT | ' | ' | ' |
Proceeds from senior revolving credit and receivables securitization facilities | 123 | 313 | 365 |
Payments on senior revolving credit and receivables securitization facilities | -101 | -330 | -207 |
Proceeds from long-term debt | 0 | 0 | 6 |
Payments on long-term debt | -2 | -11 | -10 |
Net decrease in short-term debt | -4 | -15 | 18 |
Purchase of noncontrolling interest | 0 | ' | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from Loans and Advances from Parent | ' | -47 | -139 |
Intercompany Loans | -60 | ' | ' |
Other Financing | 0 | 0 | 0 |
Net cash flow provided by (used for) financing activities | -44 | -90 | 33 |
Effect of exchange rate changes on cash | -2 | 2 | -18 |
Net decrease in cash and cash equivalents | 2 | 0 | 3 |
Cash and cash equivalents at beginning of period | 52 | 52 | ' |
Cash and cash equivalents at end of period | 54 | 52 | 52 |
Consolidation Eliminations Member | ' | ' | ' |
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES ABSTRACT | ' | ' | ' |
NET EARNINGS | -408 | -76 | -463 |
Adjustments to reconcile net earnings to cash provided by (used for) operating activities: | ' | ' | ' |
Net cash flow provided by (used for) operating activities | 0 | 0 | 0 |
NET CASH FLOW USED FOR INVESTING ACTIVITIES ABSTRACT | ' | ' | ' |
Additions to plant and equipment | 0 | 0 | 0 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 0 | ' |
Net cash flow used for investing activities | 0 | 0 | 0 |
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES ABSTRACT | ' | ' | ' |
Proceeds from senior revolving credit and receivables securitization facilities | 0 | 0 | 0 |
Payments on senior revolving credit and receivables securitization facilities | 0 | 0 | 0 |
Proceeds from long-term debt | 0 | 0 | 0 |
Payments on long-term debt | 0 | 0 | 0 |
Net decrease in short-term debt | 0 | 0 | 0 |
Purchase of noncontrolling interest | 0 | ' | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Proceeds from Loans and Advances from Parent | ' | 0 | 0 |
Intercompany Loans | 0 | ' | ' |
Other Financing | 0 | 0 | 0 |
Net cash flow provided by (used for) financing activities | 0 | 0 | 0 |
Effect of exchange rate changes on cash | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | ' |
Cash and cash equivalents at end of period | $0 | $0 | $0 |
GENERAL_DETAIL
GENERAL (DETAIL) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Prior Period Adjustment Abstract | ' | ' | ' | ' | ' |
Prior Period Adjustment, Revenue, Pre Tax | ' | ' | $1 | ' | $4 |
Prior Period Adjustment, Revenue, After Tax | ' | ' | 1 | ' | 4 |
Prior Period Adjustment, Expense, Pre Tax | 3 | 7 | ' | 4 | ' |
Prior Period Adjustment, Expense, After Tax | $2 | $3 | ' | $3 | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (DETAIL) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounting Policies [Abstract] | ' | ' | ' |
Amortization of Intangible Assets | $22 | $21 | $22 |
Depreciation | 310 | 328 | 296 |
Foreign Currency Transaction Loss, before Tax | 3 | ' | ' |
Marketing and Advertising Expense | $105 | $109 | $105 |
Building and Building Improvements [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '15 – 40 years | ' | ' |
Furnaces [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | ' 4 – 15 years | ' | ' |
Technology Equipment [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | '5 – 10 years | ' | ' |
Equipment [Member] | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | ' 5 – 20 years | ' | ' |
SEGMENT_INFORMATION_DETAIL
SEGMENT INFORMATION (DETAIL) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TOTAL ASSETS | $7,647 | ' | ' | ' | $7,568 | ' | ' | ' | $7,647 | $7,568 | ' | ' |
Property, plant and equipment, net | 2,932 | ' | ' | ' | 2,903 | ' | ' | ' | 2,932 | 2,903 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 349 | 318 | ' |
Additions to plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 353 | 332 | 442 | ' |
Restructuring Charges and Related Items | ' | ' | ' | ' | ' | ' | ' | ' | -26 | -136 | -17 | ' |
(Gain) Loss on Sale of Assets and Other Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 15 | -9 | 0 | ' |
Employee emergence equity program expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
General Corporate Expense | ' | ' | ' | ' | ' | ' | ' | ' | -108 | -91 | -71 | ' |
Earnings Before Interest And Taxes | 104 | 106 | 118 | 57 | 16 | 59 | 85 | -12 | 385 | 148 | 461 | ' |
Deferred Tax Assets (Liabilities), Net | 573 | ' | ' | ' | 685 | ' | ' | ' | 573 | 685 | ' | ' |
Investments in and Advances to Affiliates, Balance, Principal Amount | 51 | ' | ' | ' | 51 | ' | ' | ' | 51 | 51 | ' | ' |
Corporate Property, Plant and Equipment, Net | 547 | ' | ' | ' | 467 | ' | ' | ' | 547 | 467 | ' | ' |
Cash and cash equivalents | 57 | ' | ' | ' | 55 | ' | ' | ' | 57 | 55 | 52 | 52 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,644 | 3,504 | 3,552 | ' |
Property, plant and equipment, net | 1,688 | ' | ' | ' | 1,708 | ' | ' | ' | 1,688 | 1,708 | ' | ' |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 545 | 558 | 619 | ' |
Property, plant and equipment, net | 520 | ' | ' | ' | 513 | ' | ' | ' | 520 | 513 | ' | ' |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 627 | 639 | 674 | ' |
Property, plant and equipment, net | 375 | ' | ' | ' | 350 | ' | ' | ' | 375 | 350 | ' | ' |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | 131 | ' | ' | ' | 150 | ' | ' | ' | 131 | 150 | ' | ' |
Other Geographical [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 479 | 471 | 490 | ' |
Property, plant and equipment, net | 218 | ' | ' | ' | 182 | ' | ' | ' | 218 | 182 | ' | ' |
Composites [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,845 | 1,859 | 1,976 | ' |
Income (Loss) from Operations before Interest and Taxes Attributable to Segments | ' | ' | ' | ' | ' | ' | ' | ' | 98 | 91 | 201 | ' |
TOTAL ASSETS | 2,379 | ' | ' | ' | 2,414 | ' | ' | ' | 2,379 | 2,414 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 130 | 123 | 128 | ' |
Additions to plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 155 | 167 | 256 | ' |
Building Materials [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,609 | 3,482 | 3,537 | ' |
Income (Loss) from Operations before Interest and Taxes Attributable to Segments | ' | ' | ' | ' | ' | ' | ' | ' | 426 | 293 | 332 | ' |
TOTAL ASSETS | 4,011 | ' | ' | ' | 3,896 | ' | ' | ' | 4,011 | 3,896 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 142 | 143 | 157 | ' |
Additions to plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 167 | 127 | 151 | ' |
General Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 60 | 83 | 33 | ' |
Additions to plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 38 | 35 | ' |
Corporate Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -159 | -169 | -178 | ' |
Roofing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,967 | 2,014 | 2,169 | ' |
Insulation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,642 | 1,468 | 1,368 | ' |
Total Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,454 | 5,341 | 5,513 | ' |
Income (Loss) from Operations before Interest and Taxes Attributable to Segments | ' | ' | ' | ' | ' | ' | ' | ' | 524 | 384 | 533 | ' |
TOTAL ASSETS | 6,390 | ' | ' | ' | 6,310 | ' | ' | ' | 6,390 | 6,310 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 272 | 266 | 285 | ' |
Additions to plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | $322 | $294 | $407 | ' |
INVENTORIES_DETAIL
INVENTORIES (DETAIL) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Inventory Finished Goods | $580 | $554 |
Inventory Raw Materials And Supplies | 230 | 232 |
Inventory, Net, Total | $810 | $786 |
DERIVATIVE_FINANCIAL_INSTRUMEN2
DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (DETAIL) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Natural Gas Contract [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
DerivativeAssetFairValueNet | $1 | $0 |
Other Current Assets [Member] | Nondesignated [Member] | Foreign Exchange Contract Member | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
DerivativeAssetFairValueNet | 0 | 1 |
Accounts Payable and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Swap Member | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | 3 | 0 |
Accounts Payable and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Natural Gas Contract [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | 0 | 1 |
Accounts Payable and Accrued Liabilities [Member] | Nondesignated [Member] | Foreign Exchange Contract Member | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | 1 | 3 |
Other Comprehensive Income Member | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Gain Recognized in OCI, Effective Portion | 1 | 0 |
Loss Recognized in OCI, Effective Portion | $0 | $1 |
DERIVATIVE_FINANCIAL_INSTRUMEN3
DERIVATIVE FINANCIAL INSTRUMENTS INCOME STMT (DETAIL) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Derivative Instruments Gain Loss [Line Items] | ' | ' | ' |
Derivative Instruments Loss Recognized In Income | $1 | ' | ' |
Cost Of Sales [Member] | Designated as Hedging Instrument [Member] | Natural Gas Contract [Member] | ' | ' | ' |
Derivative Instruments Gain Loss [Line Items] | ' | ' | ' |
Derivative Instruments Loss Reclassified From Accumulated OCI Into Income Effective Portion | 1,000,000 | 5,000,000 | 4,000,000 |
Interest Expense Member | Designated as Hedging Instrument [Member] | Interest Rate Swap Member | ' | ' | ' |
Derivative Instruments Gain Loss [Line Items] | ' | ' | ' |
Derivative Instruments Loss Reclassified From Accumulated OCI Into Income Effective Portion | -1,000,000 | 0 | 2,000,000 |
Other Expense Member | Nondesignated [Member] | Natural Gas Contract [Member] | ' | ' | ' |
Derivative Instruments Gain Loss [Line Items] | ' | ' | ' |
Derivative Instruments Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing | 0 | 0 | -1,000,000 |
Other Expense Member | Nondesignated [Member] | Foreign Exchange Contract Member | ' | ' | ' |
Derivative Instruments Gain Loss [Line Items] | ' | ' | ' |
Derivative Instruments Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing | $12,000,000 | $17,000,000 | ($14,000,000) |
GOODWILL_AND_OTHER_INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLE ASSETS (DETAIL) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets Gross | $1,198,000,000 | $1,181,000,000 |
Finite Lived Intangible Assets Accumulated Amortization | -158,000,000 | -136,000,000 |
Finite-Lived Intangible Assets, Net, Total | 1,040,000,000 | 1,045,000,000 |
Intangible assets | 1,040,000,000 | 1,045,000,000 |
Goodwill balance | 1,166,000,000 | 1,143,000,000 |
Intangible Asset Expense Five Year Average | 23 | ' |
Finite Lived Intangible Assets Net | 1,040,000,000 | 1,045,000,000 |
Customer Relationships [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets Gross | 181,000,000 | 169,000,000 |
Finite Lived Intangible Assets Accumulated Amortization | -68,000,000 | -58,000,000 |
Finite-Lived Intangible Assets, Net, Total | 113,000,000 | 111,000,000 |
Finite Lived Intangible Assets Net | 113,000,000 | 111,000,000 |
Technology [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets Gross | 195,000,000 | 198,000,000 |
Finite Lived Intangible Assets Accumulated Amortization | -74,000,000 | -64,000,000 |
Finite-Lived Intangible Assets, Net, Total | 121,000,000 | 134,000,000 |
Finite Lived Intangible Assets Net | 121,000,000 | 134,000,000 |
Franchise and Other Agreements [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets Gross | 36,000,000 | 37,000,000 |
Finite Lived Intangible Assets Accumulated Amortization | -16,000,000 | -14,000,000 |
Finite-Lived Intangible Assets, Net, Total | 20,000,000 | 23,000,000 |
Finite Lived Intangible Assets Net | 20,000,000 | 23,000,000 |
Trademarks [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Finite Lived Intangible Assets Gross | 786,000,000 | 777,000,000 |
Finite-Lived Intangible Assets, Net, Total | 786,000,000 | 777,000,000 |
Finite Lived Intangible Assets Net | $786,000,000 | $777,000,000 |
GOODWILL_ROLLFORWARD_DETAIL
GOODWILL ROLLFORWARD (DETAIL) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Goodwill [Roll Forward] | ' |
Goodwill, Beginning Balance | $1,143 |
Goodwill, Acquired During Period | 24 |
Goodwill, Translation Adjustments | 1 |
Goodwill, Ending Balance | 1,166 |
Composites [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, Beginning Balance | 56 |
Goodwill, Acquired During Period | 2 |
Goodwill, Translation Adjustments | 1 |
Goodwill, Ending Balance | 57 |
Building Materials [Member] | ' |
Goodwill [Roll Forward] | ' |
Goodwill, Beginning Balance | 1,087 |
Goodwill, Acquired During Period | 22 |
Goodwill, Translation Adjustments | 0 |
Goodwill, Ending Balance | $1,109 |
PROPERTY_PLANT_AND_EQUIPMENT_D
PROPERTY, PLANT AND EQUIPMENT (DETAIL) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property Plant And Equipment [Line Items] | ' | ' |
Property Plant And Equipment Gross | $4,547 | $4,381 |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment | 1,615 | 1,478 |
Property, Plant and Equipment, Net, Total | 2,932 | 2,903 |
Precious Metals Percentage | 17.00% | 18.00% |
Precious Metals Depletion Percentage | 3.00% | ' |
Land Member | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property Plant And Equipment Gross | 210 | 222 |
Buildings and Leasehold Improvements [Member] | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property Plant And Equipment Gross | 811 | 789 |
Machinery And Equipment Member | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property Plant And Equipment Gross | 3,353 | 3,223 |
Construction In Progress Member | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property Plant And Equipment Gross | $173 | $147 |
ACQUISITIONS_DETAIL
ACQUISITIONS (DETAIL) (USD $) | Dec. 31, 2013 |
BusinessAcquisitionCostOfAcquiredEntityPurchasePriceAbstract | ' |
BusinessAcquisitionCostOfAcquiredEntityPurchasePrice | $52 |
BusinessAcquisition cash paid | 10 |
BusinessAcquisitionCostOfAcquiredEntityDeferredPayments | 15 |
BusinessAcquisitionPurchasePriceAllocationAbstract | ' |
BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets | 19 |
BusinessAcquisition goodwill | $24 |
CHANGES_IN_NONCONTROLLING_INTE2
CHANGES IN NONCONTROLLING INTERESTS (DETAIL) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Noncontrolling Interest [Line Items] | ' | ' | ' |
Noncontrolling Interest, Payments to Noncontrolling Interests | $22 | ' | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | 6 | -22,000,000 | -3,000,000 |
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet | 204,000,000 | -35,000,000 | 276,000,000 |
NEI [Member] | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' |
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesPurchaseOfInterestByParent | $0 | ($16,000,000) | $0 |
INVESTMENTS_IN_AFFILIATES_DETA
INVESTMENTS IN AFFILIATES (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
ScheduleOfEquityMethodInvestments | ' | ' | ' |
EquityMethodInvestmentOwnershipPercentage | 50.00% | 50.00% | ' |
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets | $50 | $53 | ' |
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssets | 90 | 85 | ' |
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities | 25 | 22 | ' |
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilities | 23 | 24 | ' |
Equity Method Investment, Summarized Financial Information, Revenue | 138 | 140 | 143 |
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss | 7 | 11 | 14 |
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss | $1 | $5 | $5 |
Arabian Fiberglass [Member] | ' | ' | ' |
ScheduleOfEquityMethodInvestments | ' | ' | ' |
EquityMethodInvestmentOwnershipPercentage | 49.00% | ' | ' |
NeptcoLLCMember [Member] | ' | ' | ' |
ScheduleOfEquityMethodInvestments | ' | ' | ' |
EquityMethodInvestmentOwnershipPercentage | 50.00% | ' | ' |
DIVESTITURES_DETAIL
DIVESTITURES (DETAIL) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Business Divestitures [Line Items] | ' |
Divestiture, Amount of Consideration Received | $34 |
Divestiture, Amount of Future Consideration Receivable | 35 |
Divestiture, Amount of Future Consideration Receivable, Present Value | 70 |
Gain loss on disposition of assets (high) | 40 |
GainLossOnDispositionOfAssets (Low) | $30 |
ASSETS_AND_LIABILITIES_HELD_FO1
ASSETS AND LIABILITIES HELD FOR SALE (DETAIL) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent [Line Item] | ' | ' |
Assets held for sale - current | $29 | $0 |
WARRANTIES_DETAIL
WARRANTIES (DETAIL) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward | ' | ' |
Product Warranty Accrual, Beginning Balance | ' | $38 |
Product Warranty Accrual Warranties Issued | 21 | 24 |
Product Warranty Accrual Payments | -21 | -21 |
Product Warranty Accrual, Ending Balance | $41 | ' |
COST_REDUCTION_ACTIONS_DETAIL
COST REDUCTION ACTIONS (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and Related Cost, Incurred Cost | $6 | ' | ' |
Restructuring Reserve Roll Forward | ' | ' | ' |
Charges related to cost reduction actions | 8 | 51 | 0 |
Cost Reduction Actions 2012 [Member] | ' | ' | ' |
Restructuring Reserve Roll Forward | ' | ' | ' |
Charges related to cost reduction actions | ' | 2 | ' |
Restructuring Reserve Settled With Cash | ' | -21 | ' |
Restructuring Reserve, Ending Balance | 26 | 45 | ' |
Restructuring And Related Cost Cost Incurred To Date | ' | 53 | ' |
Cost Reduction Actions 2012 [Member] | Composites [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Accelerated Depreciation | 9 | 55 | ' |
Other costs related to restructuring | 9 | 27 | ' |
Restructuring and Related Cost, Incurred Cost | 20 | 131 | ' |
Cost Reduction Actions 2012 [Member] | Building Materials [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance Costs | ' | 2 | ' |
Other costs related to restructuring | ' | 3 | ' |
Restructuring and Related Cost, Incurred Cost | ' | 5 | ' |
Cost Reduction Actions 2010 [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance Costs | ' | ' | 55 |
Accelerated Depreciation | ' | ' | 9 |
Restructuring and Related Cost, Incurred Cost | ' | ' | 9 |
Cost Reduction Actions 2013 [Member] | Composites [Member] | ' | ' | ' |
Restructuring Reserve Roll Forward | ' | ' | ' |
Restructuring Reserve, Ending Balance | 6 | ' | ' |
Employee Severance Member | Cost Reduction Actions 2012 [Member] | Composites [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Severance Costs | 2 | 49 | ' |
Employee Severance Member | Cost Reduction Actions 2013 [Member] | Composites [Member] | ' | ' | ' |
Restructuring Reserve Roll Forward | ' | ' | ' |
Restructuring Reserve, Beginning Balance | 0 | ' | ' |
Charges related to cost reduction actions | 6 | ' | ' |
Restructuring Reserve Settled With Cash | 0 | ' | ' |
Restructuring And Related Cost Cost Incurred To Date | $6 | ' | ' |
DEBT_DETAIL
DEBT (DETAIL) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Long-Term Debt [Line Items] | ' | ' |
Fair Value Adjustment to Debt | $16 | $26 |
Long Term Debt Current | 3 | 4 |
Long Term Debt Noncurrent | 2,027 | 2,080 |
Interest Rate Swap Agreement, Principal Amount | 100 | ' |
Receivables Purchase Agreement, Amount Outstanding | 200 | ' |
Short-term Debt [Abstract] | ' | ' |
Short-term debt | 1 | 5 |
Short Term Debt Weighted Average Interest Rate | 2.20% | 4.50% |
Maturities of Long-term Debt [Abstract] | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 3 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 3 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 580 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 3 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 15 | ' |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,423 | ' |
Senior Notes Due 2016 [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 400 | 400 |
Senior Notes Due 2036 [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 540 | 540 |
Senior Notes Due 2019 [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 248 | 247 |
Senior Notes Due 2022 [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 599 | 599 |
Debt Instrument Interest Rate Stated Percentage | 4.20% | ' |
Senior Revolving Credit Facility B [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 12 | 73 |
Line Of Credit Facility Initiation Date | 1-Nov-13 | ' |
Line Of Credit Facility Expiration Date | 1-Nov-18 | ' |
Debt Instrument Face Amount | 800 | ' |
Letter Of Credit Member | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Line Of Credit Facility Maximum Borrowing Capacity | 100 | ' |
Line Of Credit Facility Amount Outstanding | 15 | ' |
Capital Lease Obligations Member | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 49 | 52 |
Floating Rate Debt [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 1 | 2 |
Letter Of Credit Under Receivables Purchase Agreement [Member] | ' | ' |
Long-Term Debt [Line Items] | ' | ' |
Long Term Debt | 162 | 141 |
Receivables Purchase Agreement, Amount Outstanding | 38 | ' |
Receivables Purchase Agreement, Expiration Date | 'July 2016 | ' |
Receivables Purchase Agreement, Principal Amount | $250 | ' |
PENSION_PLANS_AND_OTHER_POSTRE1
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (DETAIL) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Defined Benefit Plan, Service Cost | $15,000,000 | $14,000,000 | $14,000,000 |
Defined Benefit Plan, Interest Cost | 65,000,000 | 72,000,000 | 78,000,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -84,000,000 | -86,000,000 | -91,000,000 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 |
Defined Benefit Plan, Amortization of Gains (Losses) | 20,000,000 | 29,000,000 | 15,000,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 16,000,000 | 30,000,000 | 16,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanActualReturnOnPlanAssets | 95,000,000 | 139,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets | -9,000,000 | 12,000,000 | ' |
Defined Benefit Plan, Contributions by Employer | 40,000,000 | 50,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -100,000,000 | -110,000,000 | ' |
DefinedBenefitPlanPurchasesSalesAndSettlements | -7,000,000 | -3,000,000 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Other | 1,000,000 | 0 | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 1,280,000,000 | 1,260,000,000 | 1,172,000,000 |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPayments | 98,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree | 102,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour | 102,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive | 101,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter | 503,000,000 | ' | ' |
DefinedBenefitPlanChangeInBenefitObligationRollForward | ' | ' | ' |
Defined Benefit Plan, Service Cost | 15,000,000 | 14,000,000 | 14,000,000 |
Defined Benefit Plan, Interest Cost | 65,000,000 | 72,000,000 | 78,000,000 |
DefinedBenefitPlanActuarial | -88,000,000 | 145,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation | -8,000,000 | 16,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -100,000,000 | -110,000,000 | ' |
DefinedBenefitPlanCurtailments | -7,000,000 | -6,000,000 | ' |
Defined Benefit Plan, Change in Benefit Obligation, Other | -2,000,000 | 2,000,000 | ' |
DefinedBenefitPlanBenefitObligation | 1,616,000,000 | 1,741,000,000 | 1,608,000,000 |
DefinedBenefitPlanFundedStatusOfPlanAbstract | ' | ' | ' |
DefinedBenefitPlanFundedStatusOfPlan | -336,000,000 | -481,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract | ' | ' | ' |
Defined Benefit Plan, Assets for Plan Benefits | 2,000,000 | 1,000,000 | ' |
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities | -2,000,000 | -2,000,000 | ' |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | -336,000,000 | -480,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheet | -336,000,000 | -481,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract | ' | ' | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation | 1,476,000,000 | 1,698,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation | 1,462,000,000 | 1,674,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets | 1,151,000,000 | 1,221,000,000 | ' |
Defined Benefit Plan, Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract] | ' | ' | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Projected Benefit Obligation | 132,000,000 | 43,000,000 | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Accumulated Benefit Obligation | 121,000,000 | 33,000,000 | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Fair Value of Plan Assets | 129,000,000 | 39,000,000 | ' |
DefinedBenefitPlanAccumulatedBenefitObligation | 1,583,000,000 | 1,707,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Defined Benefit Plan, Service Cost | 9,000,000 | 9,000,000 | ' |
Defined Benefit Plan, Interest Cost | 44,000,000 | 49,000,000 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanActualReturnOnPlanAssets | 60,000,000 | 99,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets | 0 | 0 | ' |
Defined Benefit Plan, Contributions by Employer | 20,000,000 | 32,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -79,000,000 | -87,000,000 | ' |
DefinedBenefitPlanPurchasesSalesAndSettlements | 0 | 0 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Other | 1,000,000 | 0 | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 858,000,000 | 856,000,000 | 812,000,000 |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 35 | ' | ' |
DefinedBenefitPlanChangeInBenefitObligationRollForward | ' | ' | ' |
Defined Benefit Plan, Service Cost | 9,000,000 | 9,000,000 | ' |
Defined Benefit Plan, Interest Cost | 44,000,000 | 49,000,000 | ' |
DefinedBenefitPlanActuarial | -91,000,000 | 111,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation | 0 | 0 | ' |
DefinedBenefitPlanBenefitsPaid | -79,000,000 | -87,000,000 | ' |
DefinedBenefitPlanCurtailments | 0 | 0 | ' |
Defined Benefit Plan, Change in Benefit Obligation, Other | 0 | 0 | ' |
DefinedBenefitPlanBenefitObligation | 1,070,000,000 | 1,187,000,000 | 1,105,000,000 |
DefinedBenefitPlanFundedStatusOfPlanAbstract | ' | ' | ' |
DefinedBenefitPlanFundedStatusOfPlan | -212,000,000 | -331,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract | ' | ' | ' |
Defined Benefit Plan, Assets for Plan Benefits | 0 | 0 | ' |
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities | 0 | 0 | ' |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | -212,000,000 | -331,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheet | -212,000,000 | -331,000,000 | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract | ' | ' | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax | ' | 4,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax | ' | 28,000,000 | ' |
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear | ' | 32,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract | ' | ' | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation | 1,070,000,000 | 1,187,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation | 1,070,000,000 | 1,187,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets | 858,000,000 | 856,000,000 | ' |
Defined Benefit Plan, Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract] | ' | ' | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Projected Benefit Obligation | 0 | 0 | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Accumulated Benefit Obligation | 0 | 0 | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Fair Value of Plan Assets | 0 | 0 | ' |
DefinedBenefitPlanAccumulatedBenefitObligation | 1,070,000,000 | 1,187,000,000 | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate | 4.65% | 3.80% | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Expected Long-term Return on Assets | 7.00% | 7.50% | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease | 0.00% | 0.00% | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate | 3.80% | 4.60% | 5.30% |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets | 7.50% | 7.25% | 7.75% |
DefinedContributionPensionAndOtherPostretirementPlansDisclosureAbstract | ' | ' | ' |
Defined Contribution Plan, Company Match Regardless of Employee Contribution | 2.00% | ' | ' |
DefinedContributionPlanCostRecognized | 29 | 30 | 30 |
DefinedBenefitPlanAssetsTargetAllocationsAbstract | ' | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities | 38.00% | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Real Estate | 3.00% | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Real Assets | 6.00% | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Fixed Income Securities | 47.00% | ' | ' |
Defined Benefit Plan, Target Allocation Percentage of Assets, Absolute Return Securities | 6.00% | ' | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 578,000,000 | 619,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 280,000,000 | 237,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, Domestic, Actively Managed [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 138,000,000 | 129,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, Domestic, Actively Managed [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 100,000,000 | 129,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, Domestic, Actively Managed [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 38,000,000 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, Domestic, Passive Index [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 58,000,000 | 55,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, Domestic, Passive Index [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, Domestic, Passive Index [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 58,000,000 | 55,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, International, Actively Managed [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 121,000,000 | 122,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, International, Actively Managed [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 121,000,000 | 122,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, International, Actively Managed [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, International, Passive Index [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 25,000,000 | 27,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, International, Passive Index [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Equity Funds, International, Passive Index [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 25,000,000 | 27,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 1,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 1,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Short-term Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 27,000,000 | 24,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Short-term Debt Securities [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Short-term Debt Securities [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 27,000,000 | 24,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Corporate Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 267,000,000 | 274,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Corporate Debt Securities [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 240,000,000 | 246,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Corporate Debt Securities [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 27,000,000 | 28,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | US Treasury and Government [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 91,000,000 | 94,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | US Treasury and Government [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 91,000,000 | 94,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | US Treasury and Government [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Hedge Funds [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 80,000,000 | 76,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Hedge Funds [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Hedge Funds [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 80,000,000 | 76,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 26,000,000 | 27,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 26,000,000 | 27,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Asset-backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 25,000,000 | 27,000,000 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Asset-backed Securities [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
United States Pension Plans Of US Entity Defined Benefit Member | Asset-backed Securities [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 25,000,000 | 27,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Defined Benefit Plan, Service Cost | 6,000,000 | 5,000,000 | ' |
Defined Benefit Plan, Interest Cost | 21,000,000 | 23,000,000 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanActualReturnOnPlanAssets | 35,000,000 | 40,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets | -9,000,000 | 12,000,000 | ' |
Defined Benefit Plan, Contributions by Employer | 20,000,000 | 18,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -21,000,000 | -23,000,000 | ' |
DefinedBenefitPlanPurchasesSalesAndSettlements | -7,000,000 | -3,000,000 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Other | 0 | 0 | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 422,000,000 | 404,000,000 | 360,000,000 |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 20 | ' | ' |
DefinedBenefitPlanChangeInBenefitObligationRollForward | ' | ' | ' |
Defined Benefit Plan, Service Cost | 6,000,000 | 5,000,000 | ' |
Defined Benefit Plan, Interest Cost | 21,000,000 | 23,000,000 | ' |
DefinedBenefitPlanActuarial | 3,000,000 | 34,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation | -8,000,000 | 16,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -21,000,000 | -23,000,000 | ' |
DefinedBenefitPlanCurtailments | -7,000,000 | -6,000,000 | ' |
Defined Benefit Plan, Change in Benefit Obligation, Other | -2,000,000 | 2,000,000 | ' |
DefinedBenefitPlanBenefitObligation | 546,000,000 | 554,000,000 | 503,000,000 |
DefinedBenefitPlanFundedStatusOfPlanAbstract | ' | ' | ' |
DefinedBenefitPlanFundedStatusOfPlan | -124,000,000 | -150,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract | ' | ' | ' |
Defined Benefit Plan, Assets for Plan Benefits | 2,000,000 | 1,000,000 | ' |
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities | -2,000,000 | -2,000,000 | ' |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | -124,000,000 | -149,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheet | -124,000,000 | -150,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract | ' | ' | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation | 406,000,000 | 511,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation | 392,000,000 | 487,000,000 | ' |
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets | 293,000,000 | 365,000,000 | ' |
Defined Benefit Plan, Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract] | ' | ' | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Projected Benefit Obligation | 132,000,000 | 43,000,000 | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Accumulated Benefit Obligation | 121,000,000 | 33,000,000 | ' |
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Aggregate Fair Value of Plan Assets | 129,000,000 | 39,000,000 | ' |
DefinedBenefitPlanAccumulatedBenefitObligation | 513,000,000 | 520,000,000 | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate | 4.45% | 4.10% | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Expected Long-term Return on Assets | 6.38% | 6.13% | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease | 3.94% | 3.50% | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate | 4.10% | 4.65% | 5.21% |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets | 6.13% | 7.23% | 7.25% |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease | 3.50% | 3.75% | 3.86% |
Foreign Pension Plans Defined Benefit Member | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 35,000,000 | 36,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 387,000,000 | 368,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, Domestic, Actively Managed [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 34,000,000 | 29,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, Domestic, Actively Managed [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 30,000,000 | 25,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, Domestic, Actively Managed [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 4,000,000 | 4,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, Domestic, Passive Index [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 4,000,000 | 4,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, Domestic, Passive Index [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, Domestic, Passive Index [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 4,000,000 | 4,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, International, Actively Managed [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 61,000,000 | 50,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, International, Actively Managed [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, International, Actively Managed [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 61,000,000 | 50,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, International, Passive Index [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 28,000,000 | 31,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, International, Passive Index [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 2,000,000 | 8,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Equity Funds, International, Passive Index [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 26,000,000 | 23,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Cash and Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 25,000,000 | 29,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 3,000,000 | 3,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 22,000,000 | 26,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Short-term Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Short-term Debt Securities [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Short-term Debt Securities [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Corporate Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 162,000,000 | 166,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Corporate Debt Securities [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Corporate Debt Securities [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 162,000,000 | 166,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | US Treasury and Government [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 7,000,000 | 7,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | US Treasury and Government [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | US Treasury and Government [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 7,000,000 | 7,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Hedge Funds [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 101,000,000 | 88,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Hedge Funds [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Hedge Funds [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 101,000,000 | 88,000,000 | ' |
Foreign Pension Plans Defined Benefit Member | Real Estate [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Asset-backed Securities [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | 0 | 0 | ' |
Foreign Pension Plans Defined Benefit Member | Asset-backed Securities [Member] | Fair Value Inputs Level 1 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | ' | ' | ' |
Foreign Pension Plans Defined Benefit Member | Asset-backed Securities [Member] | Fair Value Inputs Level 2 Member | ' | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanFairValueOfPlanAssets | ' | ' | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Defined Benefit Plan, Service Cost | 3,000,000 | 3,000,000 | 3,000,000 |
Defined Benefit Plan, Interest Cost | 9,000,000 | 11,000,000 | 14,000,000 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | -4,000,000 | -4,000,000 | 0 |
Defined Benefit Plan, Amortization of Gains (Losses) | -1,000,000 | -3,000,000 | -1,000,000 |
Defined Benefit Plan, Net Periodic Benefit Cost | 7,000,000 | 6,000,000 | 14,000,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanBenefitsPaid | -20,000,000 | -20,000,000 | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPayments | 21,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree | 21,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour | 21,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive | 20,000,000 | ' | ' |
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter | 92,000,000 | ' | ' |
DefinedBenefitPlanChangeInBenefitObligationRollForward | ' | ' | ' |
Defined Benefit Plan, Service Cost | 3,000,000 | 3,000,000 | 3,000,000 |
Defined Benefit Plan, Interest Cost | 9,000,000 | 11,000,000 | 14,000,000 |
DefinedBenefitPlanActuarial | -20,000,000 | 17,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation | 0 | 1,000,000 | ' |
DefinedBenefitPlanPlanAmendments | 0 | -3,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -20,000,000 | -20,000,000 | ' |
DefinedBenefitPlanCurtailments | 0 | 0 | ' |
Defined Benefit Plan, Change in Benefit Obligation, Other | -1,000,000 | 0 | ' |
DefinedBenefitPlanBenefitObligation | 244,000,000 | 273,000,000 | 264,000,000 |
DefinedBenefitPlanFundedStatusOfPlanAbstract | ' | ' | ' |
DefinedBenefitPlanFundedStatusOfPlan | -244,000,000 | -273,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract | ' | ' | ' |
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities | -20,000,000 | -21,000,000 | ' |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | -224,000,000 | -252,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheet | -244,000,000 | -273,000,000 | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract | ' | ' | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax | 51 | 9,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax | 24,000,000 | 28,000,000 | ' |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), after Tax | 7 | 14 | ' |
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear | 6 | 37,000,000 | ' |
PostemploymentBenefitsAbstract | ' | ' | ' |
Postemployment Benefits Liability | 18 | 22 | ' |
PostemploymentBenefitsPeriodExpense | 1 | ' | ' |
DefinedBenefitPlanEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesAbstract | ' | ' | ' |
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents | 1,000,000 | ' | ' |
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents | 0 | ' | ' |
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation | 9,000,000 | ' | ' |
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation | -8,000,000 | ' | ' |
United States Postretirement Benefit Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Defined Benefit Plan, Service Cost | 2,000,000 | 3,000,000 | ' |
Defined Benefit Plan, Interest Cost | 8,000,000 | 10,000,000 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanBenefitsPaid | -18,000,000 | -19,000,000 | ' |
DefinedBenefitPlanChangeInBenefitObligationRollForward | ' | ' | ' |
Defined Benefit Plan, Service Cost | 2,000,000 | 3,000,000 | ' |
Defined Benefit Plan, Interest Cost | 8,000,000 | 10,000,000 | ' |
DefinedBenefitPlanActuarial | -18,000,000 | 17,000,000 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation | 0 | 0 | ' |
DefinedBenefitPlanPlanAmendments | 0 | -3,000,000 | ' |
DefinedBenefitPlanBenefitsPaid | -18,000,000 | -19,000,000 | ' |
DefinedBenefitPlanCurtailments | 0 | 0 | ' |
Defined Benefit Plan, Change in Benefit Obligation, Other | 2,000,000 | 0 | ' |
DefinedBenefitPlanBenefitObligation | 228,000,000 | 252,000,000 | 244,000,000 |
DefinedBenefitPlanFundedStatusOfPlanAbstract | ' | ' | ' |
DefinedBenefitPlanFundedStatusOfPlan | -228,000,000 | -252,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract | ' | ' | ' |
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities | -20,000,000 | -20,000,000 | ' |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | -208,000,000 | -232,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheet | -228,000,000 | -252,000,000 | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract | ' | ' | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax | 21,000,000 | ' | ' |
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax | 24,000,000 | ' | ' |
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear | 45,000,000 | ' | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate | 4.35% | 3.50% | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate | 3.50% | 4.35% | 5.00% |
DefinedBenefitPlanAssumedHealthCareCostTrendRatesAbstract | ' | ' | ' |
DefinedBenefitPlanHealthCareCostTrendRateAssumedForNextFiscalYear | 7.00% | 7.00% | 7.00% |
DefinedBenefitPlanUltimateHealthCareCostTrendRate | 5.00% | 5.00% | 5.00% |
DefinedBenefitPlanYearThatRateReachesUltimateTrendRate | '2023 | '2022 | '2021 |
Foreign Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Defined Benefit Plan, Service Cost | 1,000,000 | 0 | ' |
Defined Benefit Plan, Interest Cost | 1,000,000 | 1,000,000 | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
DefinedBenefitPlanBenefitsPaid | -2,000,000 | -1,000,000 | ' |
DefinedBenefitPlanChangeInBenefitObligationRollForward | ' | ' | ' |
Defined Benefit Plan, Service Cost | 1,000,000 | 0 | ' |
Defined Benefit Plan, Interest Cost | 1,000,000 | 1,000,000 | ' |
DefinedBenefitPlanActuarial | -2,000,000 | 0 | ' |
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation | 0 | 1,000,000 | ' |
DefinedBenefitPlanPlanAmendments | 0 | 0 | ' |
DefinedBenefitPlanBenefitsPaid | -2,000,000 | -1,000,000 | ' |
DefinedBenefitPlanCurtailments | 0 | 0 | ' |
Defined Benefit Plan, Change in Benefit Obligation, Other | -3,000,000 | 0 | ' |
DefinedBenefitPlanBenefitObligation | 16,000,000 | 21,000,000 | 20,000,000 |
DefinedBenefitPlanFundedStatusOfPlanAbstract | ' | ' | ' |
DefinedBenefitPlanFundedStatusOfPlan | -16,000,000 | -21,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract | ' | ' | ' |
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities | 0 | -1,000,000 | ' |
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | -16,000,000 | -20,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInBalanceSheet | -16,000,000 | -21,000,000 | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract | ' | ' | ' |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax | 6,000,000 | 5,000,000 | ' |
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax | 0 | 0 | ' |
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear | $6,000,000 | $5,000,000 | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate | 4.45% | 3.80% | ' |
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract | ' | ' | ' |
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate | 3.80% | 4.10% | 4.80% |
DefinedBenefitPlanAssumedHealthCareCostTrendRatesAbstract | ' | ' | ' |
DefinedBenefitPlanHealthCareCostTrendRateAssumedForNextFiscalYear | 6.23% | 6.50% | 6.80% |
DefinedBenefitPlanUltimateHealthCareCostTrendRate | 4.79% | 4.80% | 4.80% |
DefinedBenefitPlanYearThatRateReachesUltimateTrendRate | '2019 | '2019 | '2019 |
CONTINGENT_LIABILITIES_AND_OTH1
CONTINGENT LIABILITIES AND OTHER MATTERS (DETAIL) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unusual or Infrequent Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
COST OF SALES | $1,045 | $1,067 | $1,080 | $1,137 | $989 | $1,074 | $1,152 | $1,160 | $4,329 | $4,375 | $4,307 |
STOCK_COMPENSATION_DETAIL
STOCK COMPENSATION (DETAIL) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Nonoptions, Number, Grants In Period | ' | 409,700 | ' |
Employee emergence equity program expense | $0 | $0 | $0 |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | ' | ' | 1 |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward | ' | ' | ' |
Options, Outstanding, Number, Beginning Balance | 3,025,220 | 3,293,545 | 3,397,858 |
Options, Outstanding, Number, Grants In Period | 329,800 | 409,700 | 412,200 |
Options, Outstanding, Number, Options Exercised | -549,800 | -520,120 | -374,738 |
Options, Outstanding, Number, Forfeitures In Period | -56,500 | -157,905 | -141,775 |
Options, Outstanding, Number, Ending Balance | 2,748,720 | 3,025,220 | 3,293,545 |
Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $27.78 | $26.26 | $25.06 |
Options, Outstanding, Grants In Period Weighted Average Exercise Price | $42.16 | $33.73 | $33.98 |
Options, Outstanding, Exercises In Period Weighted Average Exercise Price | $26.88 | $22.65 | $25.78 |
Options, Outstanding, Forfeitures In Period Weighted Average Exercise Price | $34.58 | $28.48 | $21.19 |
Options, Outstanding, Weighted Average Exercise Price, End of Period | $29.55 | $27.78 | $26.26 |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' | ' | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options | 2,748,720 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | '5 years 4 months 6 days | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning Balance | $29.55 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term | '4 years 2 months 12 days | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $26.75 | ' | ' |
Stock Options Member | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Terms of Award, Maximum (in years) | 10 | ' | ' |
Allocated Share Based Compensation Expense | 5 | 5 | 4 |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | '2 years 6 months 7 days | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Nonoptions, Number, Grants In Period | 329,800 | ' | 412,200 |
Nonoptions, Weighted Average Fair Value, Grants in Period | $18.94 | $15.27 | $15.85 |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate | 45.30% | 45.80% | 44.30% |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | '6 years 3 months 0 days | '6 years 3 months 3 days | '6 years 3 months 3 days |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | 8 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value | 27 | 28 | 12 |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 15 | 12 | 10 |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | 3 | 2 | ' |
Restricted Stock Member | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' |
Allocated Share Based Compensation Expense | 16 | 15 | 13 |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | '2 years 7 months 2 days | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | 1,875,065 | 1,941,742 | 1,987,705 |
Nonoptions, Number, Grants In Period | 512,398 | 638,618 | 565,982 |
Nonoptions, Number, Vested In Period | -573,920 | -544,528 | -476,650 |
Nonoptions, Number, Forfeited In Period | -77,719 | -160,767 | -135,295 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 1,735,824 | 1,875,065 | 1,941,742 |
Nonoptions, Weighted Average Fair Value, Beginning Balance | $27.14 | $23.83 | $19.74 |
Nonoptions, Weighted Average Fair Value, Grants in Period | $41.01 | $33.43 | $33.47 |
Nonoptions, Weighted Average Fair Value, Vested | $26 | $22.38 | $18.82 |
Nonoptions, Weighted Average Fair Value, Forfeited | $34.62 | $28.36 | $21.67 |
Nonoptions, Weighted Average Fair Value, Ending Balance | $32.49 | $27.14 | $23.83 |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | 25 | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | 16 | 12 | 9 |
Performance Stock Units (PSUs) [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' |
Allocated Share Based Compensation Expense | 7 | 13 | 7 |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition | '1 year 8 months 12 days | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | 412,910 | 508,616 | 754,603 |
Nonoptions, Number, Grants In Period | 207,050 | 256,400 | 354,564 |
Nonoptions, Number, Vested In Period | -167,610 | -260,580 | -526,608 |
Nonoptions, Number, Forfeited In Period | -41,850 | -91,526 | -73,943 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 410,500 | 412,910 | 508,616 |
Nonoptions, Weighted Average Fair Value, Beginning Balance | $49.14 | $42.24 | $19.66 |
Nonoptions, Weighted Average Fair Value, Grants in Period | $56.71 | $47.97 | $48.61 |
Nonoptions, Weighted Average Fair Value, Vested | $48.61 | $36.52 | $16.45 |
Nonoptions, Weighted Average Fair Value, Forfeited | $50.39 | $43.45 | $25.98 |
Nonoptions, Weighted Average Fair Value, Ending Balance | $53.04 | $49.14 | $42.24 |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $11 | ' | ' |
Performance Stock Units (PSUs) Stock 2013 [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate | 36.70% | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | '2 years 10 months 24 days | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate | 0.40% | ' | ' |
Performance Stock Units (PSUs) Stock 2012 [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate | ' | 48.20% | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | ' | '2 years 10 months 28 days | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate | ' | 0.30% | ' |
Performance Stock Units (PSUs) Cash 2012 [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate | ' | 25.73% | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | ' | '1 year 0 months 0 days | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate | ' | 0.20% | ' |
Performance Stock Units (PSUs) Stock 2011 [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate | ' | ' | 57.20% |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | ' | ' | '1 year 0 months 0 days |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate | ' | ' | 1.10% |
Performance Stock Units (PSUs) Cash 2011 [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate | ' | ' | 24.84% |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term | ' | ' | '0 years 0 months 0 days |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate | ' | ' | 0.00% |
WARRANTS_DETAIL
WARRANTS (DETAIL) (USD $) | Dec. 31, 2013 |
In Millions, except Per Share data, unless otherwise specified | |
SeriesAMember | ' |
ClassOfWarrantOrRightLineItems | ' |
ClassOfWarrantOrRightOutstanding | 17.5 |
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights | $43 |
SeriesBMember | ' |
ClassOfWarrantOrRightLineItems | ' |
ClassOfWarrantOrRightOutstanding | 7.8 |
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights | $45.25 |
EARNINGS_PER_SHARE_DETAIL
EARNINGS PER SHARE (DETAIL) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING | $82 | $51 | $49 | $22 | ($56) | $44 | $39 | ($46) | $204 | ($19) | $276 |
Weighted Average Common Shares, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 118.2 | 119.4 | 122.5 |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 0 | 0.7 |
Incremental Common Shares Attributable To Call Options And Warrants | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | 0 | 0.3 |
Earnings Per Share Basic | $0.70 | $0.43 | $0.41 | $0.19 | ($0.47) | $0.37 | $0.32 | ($0.38) | $1.73 | ($0.16) | $2.25 |
Earnings Per Share Diluted | $0.69 | $0.43 | $0.41 | $0.18 | ($0.47) | $0.37 | $0.32 | ($0.38) | $1.71 | ($0.16) | $2.23 |
Equity Class Of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of treasury stock | ' | ' | ' | ' | ' | ' | ' | ' | $63 | $113 | $138 |
Repurchase Program 2012 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Class Of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 10 | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 8 | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' |
Combined Repurchase Programs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Class Of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Number of Shares Acquired During Period | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | ' | ' |
Stock Options Member | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | ' | ' | ' | ' | ' | ' | ' | ' | 0.6 | ' | ' |
Series A Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.5 | 17.5 |
Series B Warrants [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.8 | 7.8 |
FAIR_VALUE_MEASUREMENT_DETAIL
FAIR VALUE MEASUREMENT (DETAIL) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash And Cash Equivalents Fair Value Disclosure | $20 | $1 |
Term Deposits, Fair Value Disclosure | 2 | ' |
Derivative Assets | 1 | 1 |
Total Assets | 23 | 3 |
Notes Receivable Fair Value Disclosure | 53 | ' |
Liabilities | ' | ' |
Derivative Liabilities | 4 | 4 |
Liabilities | 4 | 4 |
Fair Value Inputs Level 1 Member | ' | ' |
Assets | ' | ' |
Cash And Cash Equivalents Fair Value Disclosure | 20 | 1 |
Term Deposits, Fair Value Disclosure | 2 | ' |
Total Assets | 22 | 2 |
Fair Value Inputs Level 2 Member | ' | ' |
Assets | ' | ' |
Derivative Assets | 1 | 1 |
Total Assets | 1 | 1 |
Liabilities | ' | ' |
Derivative Liabilities | 4 | 4 |
Liabilities | $4 | $4 |
INCOME_TAXES_DETAIL
INCOME TAXES (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $196 | $31 | $202 |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 77 | -71 | 151 |
EARNINGS BEFORE TAXES | 273 | -40 | 353 |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Current Federal Tax Expense (Benefit) | -2 | 1 | -14 |
Current State and Local Tax Expense (Benefit) | -2 | -2 | 2 |
Current Foreign Tax Expense (Benefit) | 30 | 20 | 28 |
Current Income Tax Expense (Benefit) | 26 | 19 | 16 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Deferred Federal Income Tax Expense (Benefit) | 56 | -22 | 61 |
Deferred State and Local Income Tax Expense (Benefit) | 2 | 2 | 7 |
Deferred Foreign Income Tax Expense (Benefit) | -16 | -27 | -10 |
Deferred Income Tax Expense (Benefit) | 42 | -47 | 58 |
Income Tax Expense Benefit Continuing Operations | 68 | -28 | 74 |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | -35.00% | 35.00% | 35.00% |
Income Tax Reconciliation, State and Local Income Taxes | 2 | -5 | 2 |
Income Tax Reconciliation, Foreign Income Tax Rate Differential | -11 | -60 | -10 |
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance | 17 | 127 | 2 |
Income Tax Rate Reconciliation, Uncertain Tax Positions and Settlements | -1 | -2 | -3 |
Income Tax Rate Reconciliation, Goodwill | 0 | 0 | 0 |
Income Tax Reconciliation, Other Reconciling Items | -5 | -33 | -4 |
Effective Income Tax Rate Continuing Operations | -70.00% | 21.00% | -875.00% |
Components of Deferred Tax Assets [Abstract] | ' | ' | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | 153 | 160 | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | 115 | 161 | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic and Foreign | 1,117 | 1,080 | ' |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 6 | 5 | ' |
Deferred Tax Assets, Other | 135 | 173 | ' |
Valuation Allowance, Amount | -270 | -228 | ' |
Deferred Tax Assets, Net | 1,256 | 1,351 | ' |
Deferred Tax Assets, Net, Current | 80 | 71 | ' |
Components of Deferred Tax Liabilities [Abstract] | ' | ' | ' |
Deferred Tax Liabilities, Deferred Expense | 338 | 332 | ' |
Deferred Tax Liabilities, Goodwill and Intangible Assets | 370 | 373 | ' |
Deferred Tax Liabilities | 708 | 705 | ' |
Income Tax Penalties and Interest [Abstract] | ' | ' | ' |
Income Tax Examination, Penalties and Interest Accrued | ' | 1 | ' |
Income Tax Examination, Penalties and Interest Expense | ' | ' | -15 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Unrecognized Tax Benefits, Beginning Balance | 161 | 170 | 210 |
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | 2 | 12 | 8 |
Unrecognized Tax Benefits, Decreases Resulting from Current Period Tax Positions | 0 | 0 | 0 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 4 | 7 | 6 |
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions | -1 | -14 | -46 |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | -3 | -13 | -7 |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | -8 | -1 | -1 |
Unrecognized Tax Benefits, Ending Balance | 155 | 161 | 170 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1 | ' | ' |
Investments in Foreign Subsidiaries and Foreign Corporate Joint Ventures that are Essentially Permanent in Duration [Member] | ' | ' | ' |
Deferred Tax Liability Not Recognized [Line Items] | ' | ' | ' |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability | $262 | ' | ' |
CHANGES_IN_ACCUMULATED_OTHER_C2
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' |
Accumulated other comprehensive deficit | ($297) | ($364) | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent [Abstract] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 0 | -1 | -3 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | 1 | 2 | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 0 | 0 | ' |
Deferred loss on hedging transactions (net of tax) | 1 | 2 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent [Abstract] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 2 | 30 | 25 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -28 | 5 | -39 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 0 | 0 | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | -28 | 5 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent [Abstract] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -184 | -279 | -226 |
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax | 15 | -140 | ' |
Other Comprehensive Income Translation Impact On Non US Plans Net Of Tax | 80 | 87 | ' |
Pension and other postretirement adjustment (net of tax) | 95 | -53 | ' |
Other Comprehensive Income AOCI Valuation | ' | ' | ' |
Accumulated Other Comprehensive Income Loss AOCI Valuation | -115 | -114 | -111 |
Other comprehensive income translation impact | -1 | -3 | ' |
Other Comprehensive Income Loss Reclassification AOCI Valuation | 0 | 0 | ' |
Other comprehensive income loss AOCI Valuation net of tax | ($1) | ($3) | ' |
SUBSEQUENT_EVENTS_DETAIL
SUBSEQUENT EVENTS (DETAIL) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Subsequent Event [Line Items] | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | $0 | ($74) | $0 |
LEASES_DETAIL
LEASES (DETAIL) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
OperatingLeasesFutureMinimumPaymentsDueAbstract | ' | ' | ' |
OperatingLeasesFutureMinimumPaymentsDueCurrent | $66,000,000 | ' | ' |
OperatingLeasesFutureMinimumPaymentsDueInTwoYears | 39,000,000 | ' | ' |
OperatingLeasesFutureMinimumPaymentsDueInThreeYears | 31,000,000 | ' | ' |
OperatingLeasesFutureMinimumPaymentsDueInFourYears | 22,000,000 | ' | ' |
OperatingLeasesFutureMinimumPaymentsDueInFiveYears | 14,000,000 | ' | ' |
OperatingLeasesFutureMinimumPaymentsDueThereafter | 36,000,000 | ' | ' |
Operating Leases, Rent Expense | $83 | $79 | $74 |
ACCOUNTS_PAYABLE_AND_ACCRUED_L2
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (DETAILS) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities [Abstract] | ' | ' |
Accounts Payable, Current | $547 | $498 |
AccruedSalariesAndVacationCurrent | 161 | 115 |
AccruedPayrollPropertyAndOtherTaxesCurrent | 95 | 98 |
Other Employee Related Liabilities, Current | 39 | 40 |
Product Warranty Accrual, Current | 19 | 20 |
Accrued Professional Fees, Current | 7 | 11 |
Interest Payable, Current | 8 | 11 |
AccruedRestructuringCostsCurrent | 26 | 45 |
Other Accrued Liabilities, Current | 81 | 59 |
Accounts Payable and Accrued Liabilities, Current | $988 | $907 |