Owens Corning (OC) 10-Q 27 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Owens Corning
Entity Central Index Key	1,370,946
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock Shares Outstanding		115,496,635

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
NET SALES	$ 1,231	$ 1,203
COST OF SALES	959	994
Gross margin	272	209
OPERATING EXPENSES
Marketing and administrative expenses	134	129
Science and technology expenses	19	17
Charges related to cost reduction actions		2
Other expenses, net	3	5
Total operating expenses	156	151
EARNINGS BEFORE INTEREST AND TAXES	116	58
Interest expense, net	23	26
EARNINGS BEFORE TAXES	93	32
Income tax expense	34	13
NET EARNINGS	59	19
Net earnings attributable to noncontrolling interests	2	1
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 57	$ 18
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 0.49	$ 0.15
Diluted (in dollars per share)	0.49	0.15
Dividend (in dollars per share)	$ 0.18	$ 0.17
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	115.5	117.8
Diluted (in shares)	116.5	118.5

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 59	$ 19
Currency translation adjustment (net of tax)	34	(50)
Pension and other postretirement adjustment (net of tax of $2 and $(2) for the three months ended March 31, 2016 and 2015, respectively)	10	8
Deferred gain on hedging (net of tax of $0 and $(1) for the three months ended March 31, 2016 and 2015, respectively)	1	1
COMPREHENSIVE EARNINGS (LOSS)	104	(22)
Net earnings attributable to noncontrolling interests	2	1
Comprehensive earnings attributable to noncontrolling interests	2	1
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	$ 102	$ (23)

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Pension and other postretirement tax	$ 2	$ (2)
Deferred loss on hedging tax	0	(1)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 5	$ (5)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents		$ 54	$ 96	$ 77	$ 67
Receivables, less allowances of $9 at March 31, 2016 and $8 at December 31, 2015		785	709
Inventories		708	644
Assets held for sale		13	12
Other current assets		50	47
Total current assets		1,610	1,508
Property, plant and equipment, net		2,988	2,956
Goodwill		1,167	1,167
Intangible assets, net		996	999
Deferred income taxes		475	492
Other non-current assets		219	222
TOTAL ASSETS		7,455	7,344
CURRENT LIABILITIES
Accounts payable and accrued liabilities		893	912
Short-term debt		3	6
Long-term debt – current portion		163	163
Total current liabilities		1,059	1,081
Long-term debt, net of current portion		1,785	1,702
Pension plan liability		384	397
Other employee benefits liability		237	240
Deferred income taxes		9	8
Other liabilities		153	137
OWENS CORNING STOCKHOLDERS’ EQUITY
Preferred stock, par value $0.01 per share (a)	[1]	0	0
Common stock, par value $0.01 per share (b)	[2]	1	1
Additional paid in capital		3,956	3,965
Accumulated earnings		1,091	1,055
Accumulated other comprehensive deficit		(625)	(670)	$ (591)
Cost of common stock in treasury (c)	[3]	(636)	(612)
Total Owens Corning stockholders’ equity		3,787	3,739
Noncontrolling interests		41	40
Total equity		3,828	3,779
TOTAL LIABILITIES AND EQUITY		$ 7,455	$ 7,344
[1]	shares authorized; none issued or outstanding at March 31, 2016 and
[2]	0 shares authorized; 135.5 issued and 115.6 outstanding at March 31, 2016; 135.5 issued and 115.9 outstanding at
[3]	shares at March 31, 2016, and 19.6 shares at

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 9	$ 8
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	400,000,000	400,000,000
Common stock, issued	135,500,000	135,500,000
Common stock, outstanding	115,600,000	115,900,000
Treasury stock shares	19,900,000	19,600,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Cash Flows [Abstract]
Net Income (Loss) Attributable to Parent	$ 57	$ 18
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES
NET EARNINGS	59	19
Adjustments to reconcile net earnings to cash provided by (used for) operating activities:
Depreciation and amortization	76	75
Deferred income taxes	28	4
Provision for pension and other employee benefits liabilities	4	5
Stock-based compensation expense	8	8
Other non-cash	(1)	0
Change in working capital	(82)	(211)
Pension fund contribution	(7)	(14)
Payments for other employee benefits liabilities	(5)	(5)
Other	(17)	3
Net cash flow provided by (used for) operating activities	63	(116)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(98)	(89)
Net cash flow used for investing activities	(98)	(89)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	150	529
Payments on senior revolving credit and receivables securitization facilities	(71)	(247)
Net decrease in short-term debt	(3)	(17)
Cash dividends paid	(40)	(39)
Purchases of treasury stock	(43)	(19)
Other	(1)	7
Net cash flow (used for) provided by financing activities	(8)	214
Effect of exchange rate changes on cash	1	1
Net (decrease) increase in cash and cash equivalents	(42)	10
Cash and cash equivalents at beginning of period	96	67
Cash and cash equivalents at end of period	$ 54	$ 77

GENERAL

GENERAL	3 Months Ended
	Mar. 31, 2016
General Disclosure [Abstract]
GENERAL	GENERAL Unless the context requires otherwise, the terms “Owens Corning,” “Company,” “we” and “our” in this report refer to Owens Corning, a Delaware corporation, and its subsidiaries. The Consolidated Financial Statements included in this report are unaudited, pursuant to certain rules and regulations of the Securities and Exchange Commission, and include, in the opinion of the Company, normal recurring adjustments necessary for a fair statement of the results for the periods indicated, which, however, are not necessarily indicative of results which may be expected for the full year. The December 31, 2015 balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (U.S.). In connection with the Consolidated Financial Statements and Notes included in this report, reference is made to the Consolidated Financial Statements and Notes contained in the Company’s Form 10-K for the year ended December 31, 2015. Certain reclassifications have been made to the periods presented for 2015 to conform to the classifications used in the periods presented for 2016. During the first quarter of 2016, the Company discovered an error in which certain Value Added Tax ("VAT") balances were inappropriately reported gross versus net in the Consolidated and Condensed Consolidating (Non-Guarantor Subsidiaries) Balance Sheets. We revised the December 31, 2015 balance sheet in these financial statements to correctly report the related VAT balances as a net liability. This resulted in a decrease to the previously reported Other current assets of $30 million , Other non-current assets of $6 million and Accounts payable and accrued liabilities of $36 million . The revision was deemed immaterial to the current and prior periods and had no impact on the Consolidated and Condensed Consolidating Statements of Earnings nor the Consolidated and Condensed Consolidating Statements of Cash Flows. During the fourth quarter of 2015, the Company revised the Consolidated and Condensed Consolidating Statements of Cash Flows to correct an error for the presentation of non-cash capital expenditures which impacted the operating activities section and investing activities section. Please refer to Note 1 of the Notes to Consolidated Financial Statements in our Form 10-K for the year ended December 31, 2015 for additional information about this revision. The classification error impacted the unaudited Consolidated and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2015. For the three months ended March 31, 2015, the impact of this revision increased cash used for Cash paid for property, plant and equipment and decreased cash used for Changes in working capital by $33 million . The effects of this revision did not impact the ending cash balance for any period and were not material to any previously issued financial statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGEMENT INFORMATION	SEGMENT INFORMATION The Company has three reportable segments: Composites, Insulation and Roofing. Accounting policies for the segments are the same as those for the Company. The Company’s three reportable segments are defined as follows: Composites – The Composites segment is 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, non-wovens, veil and other specialized products. Insulation – Within our 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. Roofing – Within our Roofing business, the Company manufactures and sells residential roofing shingles and oxidized asphalt materials, and roofing accessories used in residential and commercial construction and specialty applications. NET SALES During the fourth quarter of 2015, the Company discovered an error between Net sales and Cost of sales due to incorrect eliminations in its Composites segment. Please refer to Note 1 of the Notes to Consolidated Financial Statements in our Form 10-K for the year ended December 31, 2015 for additional information about this revision. For the three months ended March 31, 2015, the previously reported Net sales and Cost of sales were overstated by $4 million . The effect of correcting these errors was not material to any previously issued financial statements and have been revised in the table below. The following table summarizes our net sales by segment and geographic region (in millions). Corporate eliminations (shown below) largely reflect intercompany sales from Composites to Roofing. External customer sales are attributed to geographic region based upon the location from which the product is shipped to the external customer. Three Months Ended 2016 2015 Reportable Segments Composites $ 473 $ 474 Insulation 385 379 Roofing 429 393 Total reportable segments 1,287 1,246 Corporate eliminations (56 ) (43 ) NET SALES $ 1,231 $ 1,203 External Customer Sales by Geographic Region United States $ 845 $ 816 Europe 134 129 Asia Pacific 145 140 Other 107 118 NET SALES $ 1,231 $ 1,203 EARNINGS BEFORE INTEREST AND TAXES Earnings before interest and taxes (“EBIT”) by segment consist of net sales less related costs and expenses and are presented on a basis that is used internally for evaluating segment performance. Certain items, such as general corporate expenses or income and certain other expense or income items, are excluded from the internal evaluation of segment performance. Accordingly, these items are not reflected in EBIT for our reportable segments and are included in the Corporate, Other and Eliminations category. The following table summarizes EBIT by segment (in millions): Three Months Ended 2016 2015 Reportable Segments Composites $ 64 $ 60 Insulation 13 7 Roofing 73 20 Total reportable segments 150 87 Restructuring costs — (2 ) Acquisition-related costs for InterWrap and Ahlstrom transactions (2 ) — General corporate expense and other (32 ) (27 ) EBIT $ 116 $ 58

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2016
Inventory, Net [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): March 31, 2016 December 31, 2015 Finished goods $ 497 $ 436 Materials and supplies 211 208 Total inventories $ 708 $ 644

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	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 March 31, 2016 , and December 31, 2015 , 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 of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions): Fair Value at Location March 31, 2016 December 31, 2015 Derivative assets designated as hedging instruments: Net investment hedges Cross currency swaps Other current assets $ 4 $ 4 Cross currency swaps Other non-current assets $ — $ 6 Amount of gain recognized in OCI (effective portion) OCI $ 2 $ 14 Fair value hedges Interest rate swaps Other non-current assets $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges Cross currency swaps Other liabilities $ 6 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ 5 $ 5 Amount of loss recognized in OCI related to natural gas forward swaps (effective portion) OCI $ 5 $ 5 Amount of loss recognized in OCI related to foreign exchange contracts (effective portion) OCI $ — $ 1 Derivative assets not designated as hedging instruments: Foreign exchange contracts Other current assets $ 1 $ — Derivative liabilities not designated as hedging instruments: Natural gas forward swaps Accounts payable and accrued liabilities $ 1 $ 1 Foreign exchange contracts Accounts payable and accrued liabilities $ 3 $ — The following table presents the notional amount of derivatives and hedging instruments on the Consolidated Balance Sheet (in millions): Notional Amount Unit of Measure March 31, 2016 Net investment hedges Cross currency swaps U.S. Dollars $ 250 Cash flow hedges: Natural gas forward swaps U.S. indices MMBtu 7 Natural gas forward swaps European indices MMBtu (equivalent) 1 The Company had notional amounts for derivative hedging instruments related to non-designated foreign currency exposure in U.S. Dollars primarily related to Brazilian Real, Chinese Yuan, Indian Rupee, and South Korean Won for $86 million . In addition, the Company had notional amounts for derivative hedging instruments related to non-designated foreign currency exposure in European Euro primarily related to Russian Rubles and U.S. Dollars for $25 million . The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Location 2016 2015 Derivative activity designated as hedging instruments: Natural gas and electricity: Amount of loss reclassified from OCI into earnings (effective portion) Cost of sales $ 3 $ 3 Foreign Currency Amount of loss reclassified from OCI into earnings (effective portion) Other expenses, net $ 1 $ — Interest rate swaps: Amount of loss recognized in earnings Interest expense, net $ 1 $ — Derivative activity not designated as hedging instruments: Foreign currency exchange contract: Amount of loss recognized in earnings (a) Other expenses, net $ 3 $ 1 (a) 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 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 and is subsequently recognized in Cost of Sales on the Consolidated Statements of Earnings 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, net on the Consolidated Statements of Earnings. The Company currently has natural gas 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 60% 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 March 31, 2016 , $5 million of losses included in accumulated OCI on the Consolidated Balance Sheets relate to contracts that are expected to 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 amounts include the recognition of the hedged item through earnings. Fair Value Hedges In the first quarter of 2016, the Company terminated the interest rate swaps designated to hedge a portion of its 4.20% senior notes due 2022 and received net settlement proceeds totaling $8 million . The swaps were 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 were recorded in Interest expense, net on the Consolidated Statements of Earnings. These proceeds were classified as cash provided by operating activities in the Consolidated Statements of Cash Flows. The $8 million fair value adjustment to debt will be amortized through 2022 as a reduction to interest expense in conjunction with the maturity date of the Company's 4.20% senior notes due 2022. Net Investment Hedges The Company uses cross currency forward contracts to hedge a portion of the net investment in foreign subsidiaries against fluctuations in foreign exchange rates. For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, settlements and changes in fair values of the derivative instruments are recognized in Currency translation adjustment, a component of Accumulated OCI, to offset the changes in the values of the net investments being hedged. Any portion of net investment hedges that is determined to be ineffective is recorded in Other expenses, net on the Consolidated Statements of Earnings. 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, net on the Consolidated Statements of Earnings.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	Intangible assets and goodwill consist of the following (in millions): March 31, 2016 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 172 $ (84 ) $ 88 Technology 21 193 (95 ) 98 Franchise and other agreements 9 45 (21 ) 24 Indefinite-lived intangible assets: Trademarks 786 — 786 Total intangible assets $ 1,196 $ (200 ) $ 996 Goodwill $ 1,167 December 31, 2015 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 172 $ (82 ) $ 90 Technology 21 193 (93 ) 100 Franchise and other agreements 10 43 (20 ) 23 Indefinite-lived intangible assets: Trademarks 786 — 786 Total intangible assets $ 1,194 $ (195 ) $ 999 Goodwill $ 1,167 The changes in the gross carrying amount of intangible assets by asset group are as follows (in millions): Customer relationships Technology Franchise and other agreements Trademarks Total Balance at December 31, 2015 $ 172 $ 193 $ 43 $ 786 $ 1,194 Additional Franchises and Agreements — — 2 — 2 Balance at March 31, 2016 $ 172 $ 193 $ 45 $ 786 $ 1,196 Other Intangible Assets The Company expects the ongoing amortization expense for amortizable intangible assets to be approximately $22 million in each of the next five fiscal years. Goodwill The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of 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. No testing was deemed necessary in the first three months of 2016.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPTMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): March 31, December 31, 2015 Land $ 189 $ 186 Buildings and leasehold improvements 806 788 Machinery and equipment 3,557 3,478 Construction in progress 368 359 4,920 4,811 Accumulated depreciation (1,932 ) (1,855 ) Property, plant and equipment, net $ 2,988 $ 2,956 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 15% of total machinery and equipment as of March 31, 2016 , and December 31, 2015 . 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.

ACQUISITIONS ACQUISITIONS

ACQUISITIONS ACQUISITIONS	3 Months Ended
	Mar. 31, 2016
ACQUISITIONS [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	On January 21, 2016, the Company announced an agreement to acquire the European glass non-wovens and fabrics business of Ahlstrom (the "Ahlstrom Acquisition") for approximately $80 million (73 million Euro) in cash consideration. This downstream business will become part of the Company’s Composites segment. The transaction, which is subject to regulatory approvals and other closing conditions, is anticipated to close in the second quarter of 2016. However, it is possible that the completion of the planned transaction will not take place until the third quarter of 2016. On April 21 , 2016, the Company completed its acquisition of all outstanding shares of InterWrap, a leading manufacturer of roofing underlayment and packaging materials, for $450 million in cash. This acquisition will expand the Company’s position in r oofing co mponents and strengthen the Company’s capabilities to support the conversion from organic to synthetic underlayment and accelerate its growth in the roofing components market. Operating results of the acquisition will be included in the Company’s Roofing segment within the Consolidated Financial Statements beginning April 21 , 2016. The Company is in the process of completing valuations of certain assets and the purchase price allocation will be completed with finalization of

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE Assets held for sale as of September 30, 2015 consists of Property, plant and equipment related to two closed production facilities in Alcala, Spain and Vado, Italy, and one assembly and warehousing facility held for sale in the United States.

WARRANTIES

WARRANTIES	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
WARRANTIES	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): Three Months Ended March 31, 2016 Beginning balance $ 43 Amounts accrued for current year 4 Settlements of warranty claims (2 ) Ending balance $ 45

COST REDUCTION ACTIONS

COST REDUCTION ACTIONS	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
COST REDUCTION ACTIONS	9. RESTRUCTURING, ACQUISITION AND INTEGRATION-RELATED COSTS The Company may incur restructuring, transaction and integration costs related to acquisitions, and may incur restructuring costs in connection with its global cost reduction and productivity initiatives. Acquisition-Related Costs During the first three months of 2016, the Company incurred $2 million of pre-closing transaction costs related to its announced acquisitions. Please refer to Note 7 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded in Corporate, Other and Eliminations. The following table presents the impact and respective location of acquisition-related costs for the first three months of 2016 on the Consolidated Statements of Earnings (in millions): Location Ahlstrom Acquisition InterWrap Acquisition Total Marketing and administrative expenses $ 1 $ 1 $ 2 Total acquisition-related costs $ 1 $ 1 $ 2 2014 Cost Reduction Actions During 2014, the Company took actions to reduce costs throughout its global Composites network, mainly through the decision to close a facility in Japan and optimize a facility in Canada, in addition to other cost reduction actions. The Company also took actions in 2014 to streamline its management structure and reduce costs, resulting in the elimination of the Building Materials Group organizational structure. There were no costs incurred in the first three months of 2016 related to these cost reduction actions, compared to $2 million of restructuring costs incurred in the first three months of 2015. The following table summarizes the status of the unpaid liabilities from the Company's restructuring activity (in millions): 2014 Cost Reduction Actions Balance at December 31, 2015 $ 7 Restructuring costs — Payments (1 ) Non-cash items — Foreign currency translation — Balance at March 31, 2016 $ 6 Cumulative charges incurred $ 33 The Company expects the unpaid balance of these restructuring costs to be paid over the next year. As of March 31, 2016, the remaining liability balance is comprised of $5 million of severance and $1 million of contract termination.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
DEBT	ails of the Company’s outstanding long-term debt are as follows (in millions): March 31, 2016 December 31, 2015 6.50% senior notes, net of discount and financing fees, due 2016 $ 158 $ 158 9.00% senior notes, net of discount and financing fees, due 2019 143 143 4.20% senior notes, net of discount and financing fees, due 2022 596 596 4.20% senior notes, net of discount and financing fees, due 2024 390 390 7.00% senior notes, net of discount and financing fees, due 2036 536 536 Accounts receivable securitization facility, maturing in 2018 79 — Various capital leases, due through and beyond 2050 36 36 Fair value adjustment to debt 10 6 Total long-term debt 1,948 1,865 Less – current portion 163 163 Long-term debt, net of current portion $ 1,785 $ 1,702 Senior Notes The Company issued $400 million of 2024 senior notes on November 12, 2014. Interest on the notes is payable semiannually in arrears on June 1 and December 1 each year, beginning on June 1, 2015. The proceeds from these notes were used to repay $242 million of our 2016 senior notes and $105 million of our 2019 senior notes. The remaining funds were used to pay down our Senior Revolving Credit Facility (as defined below), finance general working capital needs, and for general corporate purposes. The Company issued $600 million of 2022 senior notes on October 17, 2012. Interest on the notes is payable semiannually in arrears on June 15 and December 15 each year, beginning on June 15, 2013. 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. The Company issued $350 million of 2019 senior notes on June 3, 2009. On October 31, 2006, the Company 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. As of March 31, 2016 and December 31, 2015, the $158 million in outstanding principal related to our 2016 senior notes was recorded in Long-term debt - current portion on the Consolidated Balance Sheets, along with $2 million net in associated unamortized financing fees, discount, and interest rate swap basis adjustment. Collectively, the senior 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 ("Credit Agreement"). 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 March 31, 2016 . In the fourth quarter of 2011, the Company terminated the interest rate swaps designated to hedge a portion of the 6.50% 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 6.50% senior notes due 2016. In the first quarter of 2016, the Company terminated the existing interest rate swaps designated to hedge a portion of the 4.20% senior notes due 2022 and received net settlement proceeds totaling $8 million . 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 proceeds are classified as cash provided by operating activities in the Consolidated Statements of Cash Flows. The $8 million fair value adjustment to debt will be amortized through 2022 as a reduction to interest expense in conjunction with the maturity date of the 4.20% senior notes due 2022. Senior Revolving Credit Facility The Company amended its $800 million multi-currency senior revolving credit facility (the "Senior Revolving Credit Facility") in November 2015 to extend the maturity to November 2020 and increase the uncommitted incremental loans permitted under the facility from $200 million to $600 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 March 31, 2016 . As of March 31, 2016 , the Company had no borrowings on its Senior Revolving Credit Facility, $9 million of outstanding letters of credit, and $791 million available on this facility. Term Loan During the first quarter of 2016, the Company obtained a term loan commitment for $300 million (the "Term Loan"), as allowed by the Senior Revolving Credit Facility. The loan commitment will expire in August 2016 for any amounts not drawn down. The Term Loan is a partially amortizing loan that requires quarterly principal repayments, with a balloon repayment due in November 2020 for any outstanding borrowings. The Term Loan 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 March 31, 2016 . As of March 31, 2016 , the Company had no borrowings on this Term Loan and had $300 million available to borrow on this facility. On April 20, 2016, the Company borrowed the entire $300 million available on the term loan commitment at LIBOR plus a spread. These funds were used, in addition to borrowings on the Receivables Securitization Facility, to facilitate the acquisition of InterWrap. Please see Note 7 of the Notes to Consolidated Financial Statements for more information on this acquisition. 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 Accounting Standards Codification ("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 matures in January 2018. The Company has the ability to borrow at the lenders' cost of funds, which approximates A-1/P-1 commercial paper rates, plus a fixed spread. As of March 31, 2016 , the Company utilized its receivables securitization facility for $79 million in borrowings and $2 million of outstanding letters of credit, and had $151 million available on this facility due to collateral capacity limits. 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 March 31, 2016 . 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. Short-Term Debt At March 31, 2016 and December 31, 2015 , short-term borrowings were $3 million and $6 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 7.6% for March 31, 2016 and 4.5% for December 31, 2015 .

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	3 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	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 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. In our U.S. plans, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average remaining life expectancy of the inactive participants as substantially all of the plan participants are inactive. The following tables provide information regarding pension expense recognized (in millions): Three Months Ended March 31, 2016 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ 1 $ 3 Interest cost 11 4 15 11 5 16 Expected return on plan assets (14 ) (6 ) (20 ) (15 ) (6 ) (21 ) Amortization of actuarial loss 3 1 4 4 1 5 Net periodic pension cost $ 2 $ — $ 2 $ 2 $ 1 $ 3 The Company expects to contribute approximately $50 million in cash to the U.S. pension plans and another $13 million to non-U.S. plans during 2016 . The Company made cash contributions of approximately $7 million to the plans during the three months ended March 31, 2016 . Postemployment and Postretirement Benefits Other than Pension Plans The Company maintains healthcare 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. The following table provides the components of net periodic benefit cost for aggregated United States and non-United States Plans for the periods indicated (in millions): Three Months Ended 2016 2015 Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 Interest cost 2 2 Amortization of prior service cost (1 ) (1 ) Net periodic benefit cost $ 2 $ 2

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND OTHER MATTERS	CONTINGENT LIABILITIES AND OTHER MATTERS The Company may be involved in various legal and regulatory proceedings relating to employment, antitrust, tax, product liability, environmental 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 known claim, including the matters described below under the caption Environmental Matters (the “Environmental Matters”) are not 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 financial condition, but could have a material impact on the results of operations, cash flows or liquidity in any given reporting period. Litigation and Regulatory Proceedings The Company is involved in litigation and regulatory Proceedings from time to time in the regular course of its business. The Company believes that adequate provisions for resolution of all contingencies, claims and pending matters have been made for probable losses that are reasonably estimable. Environmental Matters The Company has established policies and procedures designed to ensure that its operations are conducted in compliance with all relevant laws and regulations and that enable the Company to meet its high standards for corporate sustainability and environmental stewardship. Our manufacturing facilities are subject to numerous foreign, federal, state and local laws and regulations relating to the presence of hazardous materials, pollution and protection of the environment, including emissions to air, discharges to water, management of hazardous materials, handling and disposal of solid wastes, and remediation of contaminated sites. All Company manufacturing facilities operate using an ISO 14001 or equivalent environmental management system. The Company’s 2020 Sustainability Goals require significant global reductions in energy use, water consumption, waste to landfill, and emissions of greenhouse gases, fine particulate matter and toxic air emissions. Owens Corning is involved in remedial response activities and is responsible for environmental remediation at a number of sites, including certain of its currently owned or formerly owned plants. These responsibilities arise under a number of laws, including, but not limited to, the Federal Resource Conservation and Recovery Act ("RCRA"), and similar state or local laws pertaining to the management and remediation of hazardous materials and petroleum. The Company has also been named a potentially responsible party under the U.S. Federal Superfund law, or state equivalents, at a number of disposal sites. The Company became involved in these sites as a result of government action or in connection with business acquisitions. As of March 31, 2016 , the Company was involved with a total of 20 sites worldwide, including 7 Superfund sites and 13 owned or formerly owned sites. None of the liabilities for these sites are individually significant to the Company. Remediation activities generally involve a potential range of activities and costs related to soil and groundwater contamination. This can include pre-cleanup activities such as fact finding and investigation, risk assessment, feasibility studies, remedial action design and implementation (where actions may range from monitoring to removal of contaminants, to installation of longer-term remediation systems). A number of factors affect the cost of environmental remediation, including the number of parties involved in a particular site, the determination of the extent of contamination, the length of time the remediation may require, the complexity of environmental regulations, variability in clean-up standards, the need for legal action, and changes in remediation technology. Taking these factors into account, Owens Corning has predicted the costs of remediation reasonably estimated to be paid over a period of years. The Company accrues an amount on an undiscounted basis, consistent with the reasonable estimates of these costs when it is probable that a liability has been incurred. Actual cost may differ from these estimates for the reasons mentioned above. At March 31, 2016 , the Company had an accrual totaling $3 million , for these costs. Changes in required remediation procedures or timing of those procedures, or discovery of contamination at additional sites, could result in material increases to the Company’s environmental obligations.

STOCK COMPENSATION

STOCK COMPENSATION	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK COMPENSATION	STOCK COMPENSATION Stock Plans 2013 Stock Plan On April 18, 2013, the Company's stockholders approved the Owens Corning 2013 Stock Plan (the "2013 Stock Plan") which authorizes grants of stock options, stock appreciation rights, restricted stock awards, restricted stock units, bonus stock awards and performance stock awards. At March 31, 2016, the number of shares remaining available under the 2013 Stock Plan for all stock awards was 1.4 million . 2016 Stock Plan On April 21, 2016, the Company’s stockholders approved the Owens Corning 2016 Stock Plan (the “2016 Stock Plan”) which replaced the 2013 Stock Plan. The 2016 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 2016 Stock Plan, 2.5 million shares of common stock may be granted in addition to the 1.4 million shares of Company common stock that rolled over from the 2013 Stock Plan as of April 21, 2016. 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 2013 Stock Plan. Stock Options The Company did not grant any stock options during the three months ended March 31, 2016 . The Company calculates a weighted-average grant-date fair value using a Black-Scholes valuation model for options granted. Compensation expense for options is measured based on the fair market value of the option on the date of grant, and is recognized on a straight-line basis over a four year vesting period. In general, the exercise price of each option awarded was equal to the market price of the Company’s common stock on the date of grant and an option’s maximum term is 10 years. During the three months ended March 31, 2016 and 2015, the Company recognized expense of $1 million related to the Company's stock options. As of March 31, 2016 , there was $3 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 1.64 years. The total aggregate intrinsic value of options outstanding as of March 31, 2016 was $30 million . The following table summarizes the Company’s stock option activity: Three Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 1,953,320 $ 31.09 Exercised (94,895 ) 30.62 Forfeited (11,000 ) 38.39 Ending Balance 1,847,425 $ 31.07 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at March 31, 2016 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89-$42.16 1,847,425 4.18 $ 31.07 1,646,100 3.77 $ 30.11 Restricted Stock Awards and Restricted Stock Units The Company has granted restricted stock awards and restricted stock units (collectively referred to as “restricted stock”) as a part of its long-term incentive plan. 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 2020. During the three months ended March 31, 2016 and 2015, the Company recognized expense of $4 million related to the Company's restricted stock. As of March 31, 2016 , there was $41 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 3.08 years. The total fair value of shares vested during the three months ended March 31, 2016 and 2015 was $14 million and $15 million , respectively. The following table summarizes the Company’s restricted stock activity: Three Months Ended Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,707,490 $ 35.37 Granted 491,971 45.20 Vested (358,924 ) 38.00 Forfeited (18,625 ) 37.58 Ending Balance 1,821,912 $ 37.47 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. All outstanding performance grants will fully settle in stock. The amount of stock ultimately distributed from all performance shares issued after the 2015 grants is contingent on meeting internal company-based metrics or an external-based stock performance metric. The amount of stock ultimately distributed from the 2014 grant is contingent on meeting an external based stock performance metric. In the three months ended March 31, 2016 , the Company granted both internal company-based and external-based metric PSUs. Internal based metrics The internal company-based metrics vest after a three-year period and are based on various company metrics over a three -year period. The amount of stock distributed will vary from 0% to 300% of PSUs awarded depending on performance versus the company-based metrics. The initial fair value for all internal company-based metric PSUs assumes that the performance goals will be achieved and is based on the grant date stock price. This assumption is monitored quarterly and if it becomes probable that such goals will not be achieved or will be exceeded, compensation expense recognized will be adjusted and previous surplus compensation expense recognized will be reversed or additional expense will be recognized. The expected term represents the period from the grant date to the end of the three -year performance period. Pro-rata vesting may be utilized in the case of death, disability or approved retirement and awards if earned will be paid at the end of the three -year period. External based metrics The external-based metrics vest after a three -year period. Outstanding grants issued in 2015 and forward are based on the Company's total stockholder return relative to the performance of the S&P Building & Construction Industry Index. Outstanding grants issued prior to 2015 are based on the Company's total stockholder return relative to the performance of the companies in the S&P 500 Index. The amount of stock distributed will vary from 0% to 200% of PSUs awarded depending on the relative stockholder return performance. The Company estimated the fair value of the external-based metric performance stock grants using a Monte Carlo simulation that uses various assumptions that include expected volatility of 26.6% , and a risk free interest rate of 0.8% both of which were based on 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 time of grant. The expected term represents the period from the grant date to the end of the three-year performance period. Compensation expense for external based metric PSUs is measured based on the grant date fair value and is recognized on a straight-line basis over the vesting period. Pro-rata vesting may be utilized in the case of death, disability or approved retirement, and awards if earned will be paid at the end of the three-year period. During the three months ended March 31, 2016 and 2015, the Company recognized expense of $2 million , related to the Company's PSUs. As of March 31, 2016 , there was $17 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 2.19 years. The following table summarizes the Company’s PSU activity: Three Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 431,400 $ 44.52 Granted 244,250 48.74 Forfeited (9,200 ) 44.52 Ending Balance 666,450 $ 46.07 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. At the approval date, 2 million shares were available for purchase under the ESPP. As of March 31, 2016, 1.5 million shares remain available for purchase. During the three months ended March 31, 2016 and 2015, the Company recognized expense of less than $1 million related to the Company's ESPP. As of March 31, 2016 , there was less than $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per-share (in millions, except per share amounts): Three Months Ended 2016 2015 Net earnings attributable to Owens Corning $ 57 $ 18 Weighted-average number of shares outstanding used for basic earnings per share 115.5 117.8 Non-vested restricted and performance shares 0.6 0.3 Options to purchase common stock 0.4 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 116.5 118.5 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.49 $ 0.15 Diluted $ 0.49 $ 0.15 In 2012, the Company approved a new share buy-back program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (the “Repurchase Program”). The Repurchase Program authorizes the Company to repurchase shares through the open market, privately negotiated transactions or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion. The Company repurchased 0.8 million shares of its common stock for $36 million during the three months ended March 31, 2016 under the Repurchase Program. As of March 31, 2016 , 3.8 million shares remain available for repurchase under the Repurchase Program. For the three months ended March 31, 2016, the number of shares used in the calculation of diluted earnings per share did not include 0.5 million non-vested restricted shares, 0.1 million non-vested performance shares and 0.5 million , of options to purchase common stock, due to their anti-dilutive effect. For the three months ended March 31, 2015 , the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested restricted and performance shares and 0.6 million , of options to purchase common stock, due to their anti-dilutive effect.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT 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. Items Measured at Fair Value The carrying value of cash and cash equivalents, accounts receivable and short-term debt approximate fair value because of the short-term maturity of the instruments. Derivatives The Company executes financial derivative contracts for the purpose of mitigating risk exposure that is generated from our normal operations. These derivatives consist of natural gas swaps, interest rate swaps, cross currency swaps, and foreign exchange forward contracts, all of which are over-the-counter and not traded through an exchange. The Company uses widely accepted valuation tools to determine fair value, such as discounting cash flows to calculate a present value for the derivatives. The models use Level 2 inputs, such as forward curves and other commonly quoted observable transactions and prices. The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of March 31, 2016 (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: Derivative assets $ 5 $ — $ 5 $ — Liabilities: Derivative liabilities $ 15 $ — $ 15 $ — The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of December 31, 2015 (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: Derivative assets $ 14 $ — $ 14 $ — Liabilities: Derivative liabilities $ 6 $ — $ 6 $ — Items Disclosed at Fair Value Long-term debt The following table shows the fair value of the Company’s long-term debt as calculated based on quoted market prices for the same or similar issues (Level 2 input), or on the current rates offered to the Company for debt of the same remaining maturities: March 31, 2016 December 31, 2015 6.50% senior notes, net of discount, due 2016 102 % 103 % 9.00% senior notes, net of discount, due 2019 115 % 116 % 4.20% senior notes, net of discount, due 2022 102 % 99 % 4.20% senior notes, net of discount, due 2024 101 % 100 % 7.00% senior notes, net of discount, due 2036 109 % 105 % The Company determined that the book value of the remaining long-term debt instruments approximates market value.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The following table provides the Income tax expense (in millions) and effective tax rate for the periods indicated: Three Months Ended 2016 2015 Income tax expense $ 34 $ 13 Effective tax rate 37 % 41 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three months ended March 31, 2016 is primarily attributable to the tax accounting treatment of various locations which are currently in a loss position and other discrete tax adjustments. Realization of deferred tax assets depends on achieving a certain minimum level of future taxable income. Management currently believes that it is at least reasonably possible that the minimum level of taxable income will be met within the next 12 months to reduce the valuation allowance of certain foreign jurisdictions by a range of $0 million to $13 million . For the first quarter of 2015, the difference between the effective tax rate and the statutory rate of 35% is primarily attributable to the tax accounting treatment related to various locations which are currently in a loss position and other discrete adjustments in the first quarter of 2015.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME	following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended 2016 2015 Currency Translation Adjustment Beginning balance $ (247 ) $ (132 ) Gain/(loss) on foreign currency translation 41 (57 ) (Loss)/gain on net investment hedge (12 ) 12 Income tax benefit/(expense) of amount classified into AOCI 5 (5 ) Other comprehensive income/(loss), net of tax 34 (50 ) Ending balance $ (213 ) $ (182 ) Pension and Other Postretirement Adjustment Beginning balance $ (419 ) $ (413 ) Amortization of actuarial loss (a) 4 5 Amortization of prior service gain (a) (1 ) (1 ) Income tax benefit of amounts reclassified from AOCI to income (1 ) (2 ) Net amortization and gain reclassified from AOCI to net income 2 2 Gains arising during the period 5 — Translation impact on non-US. plans — 6 Income tax benefit of amounts classified into AOCI 3 — Net gains arising during the period 8 6 Other comprehensive income, net of tax 10 8 Ending balance $ (409 ) $ (405 ) Deferred Gain (Loss) on Hedging Beginning balance $ (4 ) $ (5 ) Change in mark to market hedges (3 ) (1 ) Income tax benefit of amount classified into AOCI 1 — Net loss on derivative instruments (2 ) (1 ) Amounts reclassified from AOCI to income (b) 4 3 Income tax benefit of amounts reclassified from AOCI to income (1 ) (1 ) Net gain reclassified from AOCI to net income 3 2 Other comprehensive income, net of tax 1 1 Ending balance $ (3 ) $ (4 ) Total AOCI ending balance $ (625 ) $ (591 ) (a) These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in cost of sales and marketing and administrative expenses. See Note 11 for additional information. (b) Amounts reclassified from gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in cost of sales. See Note 4 for additional information.

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
ACCOUNTING PRONOUNCEMENTS	following table summarizes recent accounting standard updates ("ASU") issued by the Financial Accounting Standards Board (the "FASB") that could have an impact on the Company's Consolidated Financial Statements: Standard Description Effective Date for Company Effect on the Consolidated Financial Statements Recently issued standards: ASU 2014-09 "Revenue from Contracts with Customers (Topic 606)," as amended by ASU's 2015-14, 2016-08 and 2016-10 This standard outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. January 1, 2018 We are currently assessing the impact this standard will have on our Consolidated Financial Statements. ASU 2016-01 "Financial Instruments - Overall (Subtopic 825-10)" This standard modifies certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. The update simplifies the impairment assessment of equity investments, requires that disclosure of financial instruments be based on an exit price notion, and requires separate presentation of financial assets and liabilities by measurement category and form of financial asset. January 1, 2018 We are currently assessing the impact this standard will have on our Consolidated Financial Statements. ASU 2016-02 "Leases (Topic 842)" The standard requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. The recognition and presentation of expenses will depend on classification as a finance or operating lease. January 1, 2019 We are currently assessing the impact this standard will have on our Consolidated Financial Statements. ASU 2016-05 "Derivatives and Hedging (Topic 815)" This standard clarifies that a change in a counterparty (novation) to a derivative instrument that has been designated as the hedging instrument does not require dedesignation of that hedging relationship, provided that all other hedge accounting criteria continue to be met. January 1, 2017 We do not expect this update to have a material impact on our Consolidated Financial Statements. ASU 2016-06 "Derivatives and Hedging (Topic 815)" This standard clarifies what steps are required in the embedded derivative analysis of debt instruments, specifically in the area of contingent call or put options. January 1, 2017 We do not expect this update to have a material impact on our Consolidated Financial Statements. ASU 2016-09 "Compensation - Stock Compensation (Topic 718)" This standard simplifies several aspects of the accounting for share-based payment transactions, but may increase volatility in income tax expense. All excess tax benefits and tax deficiencies will be recognized as income tax expense or benefit in the income statement. An entity will recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period, subject to normal valuation allowance considerations. January 1, 2017 We are currently assessing the impact this standard will have on our Consolidated Financial Statements and disclosures. Recently adopted standards: ASU 2015-07 "Fair Value Measurement (Topic 820)" This standard removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. January 1, 2016 This adoption of this standard did not have a material impact on our Consolidated Financial Statements. This standard permits us to separately present certain assets in the plan assets table of the Pension Plans Note to the Consolidated Financial Statements in future Form 10-K filings. ASU 2015-16 "Business Combinations (Topic 805)" This standard requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. January 1, 2016 The adoption of this standard did not have a material impact on our Consolidated Financial Statements

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	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. Guarantor and Nonguarantor Financial Statements 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 the 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 CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 887 $ 458 $ (114 ) $ 1,231 COST OF SALES 1 730 342 (114 ) 959 Gross margin (1 ) 157 116 — 272 OPERATING EXPENSES Marketing and administrative expenses 33 72 29 — 134 Science and technology expenses — 16 3 — 19 Other expenses, net (2 ) 12 (7 ) — 3 Total operating expenses 31 100 25 — 156 EARNINGS BEFORE INTEREST AND TAXES (32 ) 57 91 — 116 Interest expense, net 22 — 1 — 23 EARNINGS BEFORE TAXES (54 ) 57 90 — 93 Income tax expense (19 ) 24 29 — 34 Equity in net earnings of subsidiaries 92 59 — (151 ) — NET EARNINGS 57 92 61 (151 ) 59 Net earnings attributable to noncontrolling interests — — 2 — 2 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 57 $ 92 $ 59 $ (151 ) $ 57 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 841 $ 457 $ (95 ) $ 1,203 COST OF SALES — 721 368 (95 ) 994 Gross margin — 120 89 — 209 OPERATING EXPENSES Marketing and administrative expenses 32 68 29 — 129 Science and technology expenses — 14 3 — 17 Other expenses, net (8 ) 6 7 — 5 Total operating expenses 24 88 39 — 151 EARNINGS BEFORE INTEREST AND TAXES (24 ) 32 50 — 58 Interest expense, net 24 1 1 — 26 EARNINGS BEFORE TAXES (48 ) 31 49 — 32 Income tax expense (15 ) 9 19 — 13 Equity in net earnings of subsidiaries 51 29 — (80 ) — NET EARNINGS 18 51 30 (80 ) 19 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 18 $ 51 $ 29 $ (80 ) $ 18 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS (LOSS) FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 57 $ 92 $ 61 $ (151 ) $ 59 Currency translation adjustment (net of tax) 34 — — — 34 Pension and other postretirement adjustment (net of tax) 10 — — — 10 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS (LOSS) 102 92 61 (151 ) 104 Comprehensive earnings attributable to noncontrolling interests — — 2 — 2 COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING $ 102 $ 92 $ 59 $ (151 ) $ 102 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS (LOSS) FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 18 $ 51 $ 30 $ (80 ) $ 19 Currency translation adjustment (net of tax) (50 ) — — — (50 ) Pension and other postretirement adjustment (net of tax) 8 — — — 8 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS (LOSS) (23 ) 51 30 (80 ) (22 ) Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING $ (23 ) $ 51 $ 29 $ (80 ) $ (23 ) OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2016 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ — $ 54 $ — $ 54 Receivables, less allowances — — 785 — 785 Due from affiliates — 3,116 — (3,116 ) — Inventories — 414 294 — 708 Assets held for sale — — 13 — 13 Other current assets 10 23 17 — 50 Total current assets 10 3,553 1,163 (3,116 ) 1,610 Investment in subsidiaries 7,842 2,657 559 (11,058 ) — Due from affiliates — — 795 (795 ) — Property, plant and equipment, net 466 1,421 1,101 — 2,988 Goodwill — 1,127 40 — 1,167 Intangible assets, net — 965 159 (128 ) 996 Deferred income taxes 3 417 55 — 475 Other non-current assets 14 68 137 — 219 TOTAL ASSETS $ 8,335 $ 10,208 $ 4,009 $ (15,097 ) $ 7,455 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 58 $ 534 $ 301 $ — $ 893 Due to affiliates 2,323 51 742 (3,116 ) — Short-term debt — 2 1 — 3 Long-term debt – current portion 159 2 2 — 163 Total current liabilities 2,540 589 1,046 (3,116 ) 1,059 Long-term debt, net of current portion 1,673 14 98 — 1,785 Due to affiliates — 795 — (795 ) — Pension plan liability 283 — 101 — 384 Other employee benefits liability — 226 11 — 237 Deferred income taxes — — 9 — 9 Other liabilities 52 183 46 (128 ) 153 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,956 6,302 1,712 (8,014 ) 3,956 Accumulated earnings 1,091 2,099 945 (3,044 ) 1,091 Accumulated other comprehensive deficit (625 ) — — — (625 ) Cost of common stock in treasury (636 ) — — — (636 ) Total Owens Corning stockholders’ equity 3,787 8,401 2,657 (11,058 ) 3,787 Noncontrolling interests — — 41 — 41 Total equity 3,787 8,401 2,698 (11,058 ) 3,828 TOTAL LIABILITIES AND EQUITY $ 8,335 $ 10,208 $ 4,009 $ (15,097 ) $ 7,455 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 48 $ 48 $ — $ 96 Receivables, less allowances — — 709 — 709 Due from affiliates — 3,148 — (3,148 ) — Inventories — 389 255 — 644 Assets held for sale — — 12 — 12 Other current assets 11 21 15 — 47 Total current assets 11 3,606 1,039 (3,148 ) 1,508 Investment in subsidiaries 7,704 2,503 559 (10,766 ) — Due from affiliates — — 739 (739 ) — Property, plant and equipment, net 463 1,404 1,089 — 2,956 Goodwill — 1,127 40 — 1,167 Intangible assets, net — 970 160 (131 ) 999 Deferred income taxes — 430 62 — 492 Other non-current assets 25 64 133 — 222 TOTAL ASSETS $ 8,203 $ 10,104 $ 3,821 $ (14,784 ) $ 7,344 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 56 $ 682 $ 174 $ — $ 912 Due to affiliates 2,244 — 904 (3,148 ) — Short-term debt — — 6 — 6 Long-term debt – current portion 160 2 1 — 163 Total current liabilities 2,460 684 1,085 (3,148 ) 1,081 Long-term debt, net of current portion 1,668 14 20 — 1,702 Due to affiliates — 739 — (739 ) — Pension plan liability 286 — 111 — 397 Other employee benefits liability — 227 13 — 240 Deferred income taxes — — 8 — 8 Other liabilities 50 177 41 (131 ) 137 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,965 6,260 1,618 (7,878 ) 3,965 Accumulated earnings 1,055 2,003 885 (2,888 ) 1,055 Accumulated other comprehensive deficit (670 ) — — — (670 ) Cost of common stock in treasury (612 ) — — — (612 ) Total Owens Corning stockholders’ equity 3,739 8,263 2,503 (10,766 ) 3,739 Noncontrolling interests — — 40 — 40 Total equity 3,739 8,263 2,543 (10,766 ) 3,779 TOTAL LIABILITIES AND EQUITY $ 8,203 $ 10,104 $ 3,821 $ (14,784 ) $ 7,344 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES $ (7 ) $ 31 $ 39 $ — $ 63 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (1 ) (68 ) (29 ) — (98 ) Net cash flow used for investing activities (1 ) (68 ) (29 ) — (98 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities — — 150 — 150 Payments on senior revolving credit and receivables securitization facilities — — (71 ) — (71 ) Net decrease in short-term debt — 2 (5 ) — (3 ) Cash dividends paid (40 ) — — — (40 ) Purchases of treasury stock (43 ) — — — (43 ) Other intercompany loans 92 (13 ) (79 ) — — Other (1 ) — — — (1 ) Net cash flow (used for) provided by financing activities 8 (11 ) (5 ) — (8 ) Effect of exchange rate changes on cash — — 1 — 1 Net (decrease) increase in cash and cash equivalents — (48 ) 6 — (42 ) Cash and cash equivalents at beginning of period — 48 48 — 96 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ — $ 54 $ — $ 54 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES $ — $ (140 ) $ 24 $ — $ (116 ) NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment — (63 ) (26 ) — (89 ) Net cash flow used for investing activities — (63 ) (26 ) — (89 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities 398 — 131 — 529 Payments on senior revolving credit and receivables securitization facilities (247 ) — — — (247 ) Net decrease in short-term debt — (25 ) 8 — (17 ) Cash dividends paid (39 ) — — — (39 ) Purchase of treasury stock (19 ) — — — (19 ) Other intercompany loans (100 ) 231 (131 ) — — Other 7 — — — 7 Net cash flow (used for) provided by financing activities — 206 8 — 214 Effect of exchange rate changes on cash — — 1 — 1 Net increase (decrease) in cash and cash equivalents — 3 7 — 10 Cash and cash equivalents at beginning of period — 1 66 — 67 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 4 $ 73 $ — $ 77

SEGMENT INFORMATION (TABLE)

SEGMENT INFORMATION (TABLE)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following table summarizes our net sales by segment and geographic region (in millions). Corporate eliminations (shown below) largely reflect intercompany sales from Composites to Roofing. External customer sales are attributed to geographic region based upon the location from which the product is shipped to the external customer. Three Months Ended 2016 2015 Reportable Segments Composites $ 473 $ 474 Insulation 385 379 Roofing 429 393 Total reportable segments 1,287 1,246 Corporate eliminations (56 ) (43 ) NET SALES $ 1,231 $ 1,203
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 845 $ 816 Europe 134 129 Asia Pacific 145 140 Other 107 118 NET SALES $ 1,231 $ 1,203
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended 2016 2015 Reportable Segments Composites $ 64 $ 60 Insulation 13 7 Roofing 73 20 Total reportable segments 150 87 Restructuring costs — (2 ) Acquisition-related costs for InterWrap and Ahlstrom transactions (2 ) — General corporate expense and other (32 ) (27 ) EBIT $ 116 $ 58

INVENTORIES (TABLE)

INVENTORIES (TABLE)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): March 31, 2016 December 31, 2015 Finished goods $ 497 $ 436 Materials and supplies 211 208 Total inventories $ 708 $ 644

DERIVATIVE FINANCIAL INSTRUME30

DERIVATIVE FINANCIAL INSTRUMENTS (TABLE)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities at Fair Value	The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions): Fair Value at Location March 31, 2016 December 31, 2015 Derivative assets designated as hedging instruments: Net investment hedges Cross currency swaps Other current assets $ 4 $ 4 Cross currency swaps Other non-current assets $ — $ 6 Amount of gain recognized in OCI (effective portion) OCI $ 2 $ 14 Fair value hedges Interest rate swaps Other non-current assets $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges Cross currency swaps Other liabilities $ 6 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ 5 $ 5 Amount of loss recognized in OCI related to natural gas forward swaps (effective portion) OCI $ 5 $ 5 Amount of loss recognized in OCI related to foreign exchange contracts (effective portion) OCI $ — $ 1 Derivative assets not designated as hedging instruments: Foreign exchange contracts Other current assets $ 1 $ — Derivative liabilities not designated as hedging instruments: Natural gas forward swaps Accounts payable and accrued liabilities $ 1 $ 1 Foreign exchange contracts Accounts payable and accrued liabilities $ 3 $ —
Schedule of Fair Value Derivative Instruments Statements of Earnings Location	The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Location 2016 2015 Derivative activity designated as hedging instruments: Natural gas and electricity: Amount of loss reclassified from OCI into earnings (effective portion) Cost of sales $ 3 $ 3 Foreign Currency Amount of loss reclassified from OCI into earnings (effective portion) Other expenses, net $ 1 $ — Interest rate swaps: Amount of loss recognized in earnings Interest expense, net $ 1 $ — Derivative activity not designated as hedging instruments: Foreign currency exchange contract: Amount of loss recognized in earnings (a) Other expenses, net $ 3 $ 1 (a) 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 expenses, net.
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the notional amount of derivatives and hedging instruments on the Consolidated Balance Sheet (in millions): Notional Amount Unit of Measure March 31, 2016 Net investment hedges Cross currency swaps U.S. Dollars $ 250 Cash flow hedges: Natural gas forward swaps U.S. indices MMBtu 7 Natural gas forward swaps European indices MMBtu (equivalent) 1

GOODWILL AND OTHER INTANGIBLE31

GOODWILL AND OTHER INTANGIBLE ASSETS (TABLE)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The changes in the gross carrying amount of intangible assets by asset group are as follows (in millions): Customer relationships Technology Franchise and other agreements Trademarks Total Balance at December 31, 2015 $ 172 $ 193 $ 43 $ 786 $ 1,194 Additional Franchises and Agreements — — 2 — 2 Balance at March 31, 2016 $ 172 $ 193 $ 45 $ 786 $ 1,196

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (TABLE)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): March 31, December 31, 2015 Land $ 189 $ 186 Buildings and leasehold improvements 806 788 Machinery and equipment 3,557 3,478 Construction in progress 368 359 4,920 4,811 Accumulated depreciation (1,932 ) (1,855 ) Property, plant and equipment, net $ 2,988 $ 2,956

WARRANTIES (TABLE)

WARRANTIES (TABLE)	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	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): Three Months Ended March 31, 2016 Beginning balance $ 43 Amounts accrued for current year 4 Settlements of warranty claims (2 ) Ending balance $ 45

COST REDUCTION ACTIONS (TABLE)

COST REDUCTION ACTIONS (TABLE) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	2014 Cost Reduction Actions
Balance at December 31, 2015	$ 6	$ 7
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Acquisition-Related Costs During the first three months of 2016, the Company incurred $2 million of pre-closing transaction costs related to its announced acquisitions. Please refer to Note 7 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded in Corporate, Other and Eliminations. The following table presents the impact and respective location of acquisition-related costs for the first three months of 2016 on the Consolidated Statements of Earnings (in millions): Location Ahlstrom Acquisition InterWrap Acquisition Total Marketing and administrative expenses $ 1 $ 1 $ 2 Total acquisition-related costs $ 1 $ 1 $ 2
Cost Reduction Actions 2014
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	2014 Cost Reduction Actions During 2014, the Company took actions to reduce costs throughout its global Composites network, mainly through the decision to close a facility in Japan and optimize a facility in Canada, in addition to other cost reduction actions. The Company also took actions in 2014 to streamline its management structure and reduce costs, resulting in the elimination of the Building Materials Group organizational structure. There were no costs incurred in the first three months of 2016 related to these cost reduction actions, compared to $2 million of restructuring costs incurred in the first three months of 2015. The following table summarizes the status of the unpaid liabilities from the Company's restructuring activity (in millions): 2014 Cost Reduction Actions Balance at December 31, 2015 $ 7 Restructuring costs — Payments (1 ) Non-cash items — Foreign currency translation — Balance at March 31, 2016 $ 6 Cumulative charges incurred $ 33 The Company expects the unpaid balance of these restructuring costs to be paid over the next year. As of March 31, 2016, the remaining liability balance is comprised of $5 million of severance and $1 million of contract termination.

DEBT (TABLE)

DEBT (TABLE)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Details of the Company’s outstanding long-term debt are as follows (in millions): March 31, 2016 December 31, 2015 6.50% senior notes, net of discount and financing fees, due 2016 $ 158 $ 158 9.00% senior notes, net of discount and financing fees, due 2019 143 143 4.20% senior notes, net of discount and financing fees, due 2022 596 596 4.20% senior notes, net of discount and financing fees, due 2024 390 390 7.00% senior notes, net of discount and financing fees, due 2036 536 536 Accounts receivable securitization facility, maturing in 2018 79 — Various capital leases, due through and beyond 2050 36 36 Fair value adjustment to debt 10 6 Total long-term debt 1,948 1,865 Less – current portion 163 163 Long-term debt, net of current portion $ 1,785 $ 1,702

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS (TABLE)	3 Months Ended
	Mar. 31, 2016
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Benefit Costs	The following tables provide information regarding pension expense recognized (in millions): Three Months Ended March 31, 2016 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ 1 $ 3 Interest cost 11 4 15 11 5 16 Expected return on plan assets (14 ) (6 ) (20 ) (15 ) (6 ) (21 ) Amortization of actuarial loss 3 1 4 4 1 5 Net periodic pension cost $ 2 $ — $ 2 $ 2 $ 1 $ 3
Other Postretirement Benefits Other Than Pensions
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Benefit Costs	The following table provides the components of net periodic benefit cost for aggregated United States and non-United States Plans for the periods indicated (in millions): Three Months Ended 2016 2015 Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 Interest cost 2 2 Amortization of prior service cost (1 ) (1 ) Net periodic benefit cost $ 2 $ 2

STOCK COMPENSATION (TABLE)

STOCK COMPENSATION (TABLE)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the Company’s stock option activity: Three Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 1,953,320 $ 31.09 Exercised (94,895 ) 30.62 Forfeited (11,000 ) 38.39 Ending Balance 1,847,425 $ 31.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable	The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at March 31, 2016 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89-$42.16 1,847,425 4.18 $ 31.07 1,646,100 3.77 $ 30.11
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Three Months Ended Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,707,490 $ 35.37 Granted 491,971 45.20 Vested (358,924 ) 38.00 Forfeited (18,625 ) 37.58 Ending Balance 1,821,912 $ 37.47
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest	Three Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 431,400 $ 44.52 Granted 244,250 48.74 Forfeited (9,200 ) 44.52 Ending Balance 666,450 $ 46.07

EARNINGS PER SHARE (TABLE)

EARNINGS PER SHARE (TABLE)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per-share (in millions, except per share amounts): Three Months Ended 2016 2015 Net earnings attributable to Owens Corning $ 57 $ 18 Weighted-average number of shares outstanding used for basic earnings per share 115.5 117.8 Non-vested restricted and performance shares 0.6 0.3 Options to purchase common stock 0.4 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 116.5 118.5 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.49 $ 0.15 Diluted $ 0.49 $ 0.15

FAIR VALUE MEASUREMENT (TABLE)

FAIR VALUE MEASUREMENT (TABLE)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Long Term Debt [Table Text Block]	Long-term debt The following table shows the fair value of the Company’s long-term debt as calculated based on quoted market prices for the same or similar issues (Level 2 input), or on the current rates offered to the Company for debt of the same remaining maturities: March 31, 2016 December 31, 2015 6.50% senior notes, net of discount, due 2016 102 % 103 % 9.00% senior notes, net of discount, due 2019 115 % 116 % 4.20% senior notes, net of discount, due 2022 102 % 99 % 4.20% senior notes, net of discount, due 2024 101 % 100 % 7.00% senior notes, net of discount, due 2036 109 % 105 %
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of March 31, 2016 (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: Derivative assets $ 5 $ — $ 5 $ — Liabilities: Derivative liabilities $ 15 $ — $ 15 $ — The following table summarizes the fair values and levels within the fair value hierarchy in which the fair value measurements fall as of December 31, 2015 (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: Derivative assets $ 14 $ — $ 14 $ — Liabilities: Derivative liabilities $ 6 $ — $ 6 $ —

CHANGES IN ACCUMULATED OTHER 40

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Changes In Accumulated Other Comprehensive Income	The following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended 2016 2015 Currency Translation Adjustment Beginning balance $ (247 ) $ (132 ) Gain/(loss) on foreign currency translation 41 (57 ) (Loss)/gain on net investment hedge (12 ) 12 Income tax benefit/(expense) of amount classified into AOCI 5 (5 ) Other comprehensive income/(loss), net of tax 34 (50 ) Ending balance $ (213 ) $ (182 ) Pension and Other Postretirement Adjustment Beginning balance $ (419 ) $ (413 ) Amortization of actuarial loss (a) 4 5 Amortization of prior service gain (a) (1 ) (1 ) Income tax benefit of amounts reclassified from AOCI to income (1 ) (2 ) Net amortization and gain reclassified from AOCI to net income 2 2 Gains arising during the period 5 — Translation impact on non-US. plans — 6 Income tax benefit of amounts classified into AOCI 3 — Net gains arising during the period 8 6 Other comprehensive income, net of tax 10 8 Ending balance $ (409 ) $ (405 ) Deferred Gain (Loss) on Hedging Beginning balance $ (4 ) $ (5 ) Change in mark to market hedges (3 ) (1 ) Income tax benefit of amount classified into AOCI 1 — Net loss on derivative instruments (2 ) (1 ) Amounts reclassified from AOCI to income (b) 4 3 Income tax benefit of amounts reclassified from AOCI to income (1 ) (1 ) Net gain reclassified from AOCI to net income 3 2 Other comprehensive income, net of tax 1 1 Ending balance $ (3 ) $ (4 ) Total AOCI ending balance $ (625 ) $ (591 )
Components of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended 2016 2015 Currency Translation Adjustment Beginning balance $ (247 ) $ (132 ) Gain/(loss) on foreign currency translation 41 (57 ) (Loss)/gain on net investment hedge (12 ) 12 Income tax benefit/(expense) of amount classified into AOCI 5 (5 ) Other comprehensive income/(loss), net of tax 34 (50 ) Ending balance $ (213 ) $ (182 ) Pension and Other Postretirement Adjustment Beginning balance $ (419 ) $ (413 ) Amortization of actuarial loss (a) 4 5 Amortization of prior service gain (a) (1 ) (1 ) Income tax benefit of amounts reclassified from AOCI to income (1 ) (2 ) Net amortization and gain reclassified from AOCI to net income 2 2 Gains arising during the period 5 — Translation impact on non-US. plans — 6 Income tax benefit of amounts classified into AOCI 3 — Net gains arising during the period 8 6 Other comprehensive income, net of tax 10 8 Ending balance $ (409 ) $ (405 ) Deferred Gain (Loss) on Hedging Beginning balance $ (4 ) $ (5 ) Change in mark to market hedges (3 ) (1 ) Income tax benefit of amount classified into AOCI 1 — Net loss on derivative instruments (2 ) (1 ) Amounts reclassified from AOCI to income (b) 4 3 Income tax benefit of amounts reclassified from AOCI to income (1 ) (1 ) Net gain reclassified from AOCI to net income 3 2 Other comprehensive income, net of tax 1 1 Ending balance $ (3 ) $ (4 ) Total AOCI ending balance $ (625 ) $ (591 ) (a) These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in cost of sales and marketing and administrative expenses. See Note 11 for additional information. (b) Amounts reclassified from gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in cost of sales. See Note 4 for additional information.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (TABLE)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statement of Earnings	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 887 $ 458 $ (114 ) $ 1,231 COST OF SALES 1 730 342 (114 ) 959 Gross margin (1 ) 157 116 — 272 OPERATING EXPENSES Marketing and administrative expenses 33 72 29 — 134 Science and technology expenses — 16 3 — 19 Other expenses, net (2 ) 12 (7 ) — 3 Total operating expenses 31 100 25 — 156 EARNINGS BEFORE INTEREST AND TAXES (32 ) 57 91 — 116 Interest expense, net 22 — 1 — 23 EARNINGS BEFORE TAXES (54 ) 57 90 — 93 Income tax expense (19 ) 24 29 — 34 Equity in net earnings of subsidiaries 92 59 — (151 ) — NET EARNINGS 57 92 61 (151 ) 59 Net earnings attributable to noncontrolling interests — — 2 — 2 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 57 $ 92 $ 59 $ (151 ) $ 57 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 841 $ 457 $ (95 ) $ 1,203 COST OF SALES — 721 368 (95 ) 994 Gross margin — 120 89 — 209 OPERATING EXPENSES Marketing and administrative expenses 32 68 29 — 129 Science and technology expenses — 14 3 — 17 Other expenses, net (8 ) 6 7 — 5 Total operating expenses 24 88 39 — 151 EARNINGS BEFORE INTEREST AND TAXES (24 ) 32 50 — 58 Interest expense, net 24 1 1 — 26 EARNINGS BEFORE TAXES (48 ) 31 49 — 32 Income tax expense (15 ) 9 19 — 13 Equity in net earnings of subsidiaries 51 29 — (80 ) — NET EARNINGS 18 51 30 (80 ) 19 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 18 $ 51 $ 29 $ (80 ) $ 18
Condensed Consolidating Statement Of Comprehensive Earnings	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS (LOSS) FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 57 $ 92 $ 61 $ (151 ) $ 59 Currency translation adjustment (net of tax) 34 — — — 34 Pension and other postretirement adjustment (net of tax) 10 — — — 10 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS (LOSS) 102 92 61 (151 ) 104 Comprehensive earnings attributable to noncontrolling interests — — 2 — 2 COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING $ 102 $ 92 $ 59 $ (151 ) $ 102	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 18 $ 51 $ 30 $ (80 ) $ 19 Currency translation adjustment (net of tax) (50 ) — — — (50 ) Pension and other postretirement adjustment (net of tax) 8 — — — 8 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS (LOSS) (23 ) 51 30 (80 ) (22 ) Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING $ (23 ) $ 51 $ 29 $ (80 ) $ (23 )
Condensed Consolidating Balance Sheet	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2016 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ — $ 54 $ — $ 54 Receivables, less allowances — — 785 — 785 Due from affiliates — 3,116 — (3,116 ) — Inventories — 414 294 — 708 Assets held for sale — — 13 — 13 Other current assets 10 23 17 — 50 Total current assets 10 3,553 1,163 (3,116 ) 1,610 Investment in subsidiaries 7,842 2,657 559 (11,058 ) — Due from affiliates — — 795 (795 ) — Property, plant and equipment, net 466 1,421 1,101 — 2,988 Goodwill — 1,127 40 — 1,167 Intangible assets, net — 965 159 (128 ) 996 Deferred income taxes 3 417 55 — 475 Other non-current assets 14 68 137 — 219 TOTAL ASSETS $ 8,335 $ 10,208 $ 4,009 $ (15,097 ) $ 7,455 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 58 $ 534 $ 301 $ — $ 893 Due to affiliates 2,323 51 742 (3,116 ) — Short-term debt — 2 1 — 3 Long-term debt – current portion 159 2 2 — 163 Total current liabilities 2,540 589 1,046 (3,116 ) 1,059 Long-term debt, net of current portion 1,673 14 98 — 1,785 Due to affiliates — 795 — (795 ) — Pension plan liability 283 — 101 — 384 Other employee benefits liability — 226 11 — 237 Deferred income taxes — — 9 — 9 Other liabilities 52 183 46 (128 ) 153 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,956 6,302 1,712 (8,014 ) 3,956 Accumulated earnings 1,091 2,099 945 (3,044 ) 1,091 Accumulated other comprehensive deficit (625 ) — — — (625 ) Cost of common stock in treasury (636 ) — — — (636 ) Total Owens Corning stockholders’ equity 3,787 8,401 2,657 (11,058 ) 3,787 Noncontrolling interests — — 41 — 41 Total equity 3,787 8,401 2,698 (11,058 ) 3,828 TOTAL LIABILITIES AND EQUITY $ 8,335 $ 10,208 $ 4,009 $ (15,097 ) $ 7,455	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 48 $ 48 $ — $ 96 Receivables, less allowances — — 709 — 709 Due from affiliates — 3,148 — (3,148 ) — Inventories — 389 255 — 644 Assets held for sale — — 12 — 12 Other current assets 11 21 15 — 47 Total current assets 11 3,606 1,039 (3,148 ) 1,508 Investment in subsidiaries 7,704 2,503 559 (10,766 ) — Due from affiliates — — 739 (739 ) — Property, plant and equipment, net 463 1,404 1,089 — 2,956 Goodwill — 1,127 40 — 1,167 Intangible assets, net — 970 160 (131 ) 999 Deferred income taxes — 430 62 — 492 Other non-current assets 25 64 133 — 222 TOTAL ASSETS $ 8,203 $ 10,104 $ 3,821 $ (14,784 ) $ 7,344 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 56 $ 682 $ 174 $ — $ 912 Due to affiliates 2,244 — 904 (3,148 ) — Short-term debt — — 6 — 6 Long-term debt – current portion 160 2 1 — 163 Total current liabilities 2,460 684 1,085 (3,148 ) 1,081 Long-term debt, net of current portion 1,668 14 20 — 1,702 Due to affiliates — 739 — (739 ) — Pension plan liability 286 — 111 — 397 Other employee benefits liability — 227 13 — 240 Deferred income taxes — — 8 — 8 Other liabilities 50 177 41 (131 ) 137 OWENS CORNING STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock 1 — — — 1 Additional paid in capital 3,965 6,260 1,618 (7,878 ) 3,965 Accumulated earnings 1,055 2,003 885 (2,888 ) 1,055 Accumulated other comprehensive deficit (670 ) — — — (670 ) Cost of common stock in treasury (612 ) — — — (612 ) Total Owens Corning stockholders’ equity 3,739 8,263 2,503 (10,766 ) 3,739 Noncontrolling interests — — 40 — 40 Total equity 3,739 8,263 2,543 (10,766 ) 3,779 TOTAL LIABILITIES AND EQUITY $ 8,203 $ 10,104 $ 3,821 $ (14,784 ) $ 7,344
Condensed Consolidating Statement of Cash Flows	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES $ (7 ) $ 31 $ 39 $ — $ 63 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (1 ) (68 ) (29 ) — (98 ) Net cash flow used for investing activities (1 ) (68 ) (29 ) — (98 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities — — 150 — 150 Payments on senior revolving credit and receivables securitization facilities — — (71 ) — (71 ) Net decrease in short-term debt — 2 (5 ) — (3 ) Cash dividends paid (40 ) — — — (40 ) Purchases of treasury stock (43 ) — — — (43 ) Other intercompany loans 92 (13 ) (79 ) — — Other (1 ) — — — (1 ) Net cash flow (used for) provided by financing activities 8 (11 ) (5 ) — (8 ) Effect of exchange rate changes on cash — — 1 — 1 Net (decrease) increase in cash and cash equivalents — (48 ) 6 — (42 ) Cash and cash equivalents at beginning of period — 48 48 — 96 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ — $ 54 $ — $ 54	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES $ — $ (140 ) $ 24 $ — $ (116 ) NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment — (63 ) (26 ) — (89 ) Net cash flow used for investing activities — (63 ) (26 ) — (89 ) NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities 398 — 131 — 529 Payments on senior revolving credit and receivables securitization facilities (247 ) — — — (247 ) Net decrease in short-term debt — (25 ) 8 — (17 ) Cash dividends paid (39 ) — — — (39 ) Purchase of treasury stock (19 ) — — — (19 ) Other intercompany loans (100 ) 231 (131 ) — — Other 7 — — — 7 Net cash flow (used for) provided by financing activities — 206 8 — 214 Effect of exchange rate changes on cash — — 1 — 1 Net increase (decrease) in cash and cash equivalents — 3 7 — 10 Cash and cash equivalents at beginning of period — 1 66 — 67 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 4 $ 73 $ — $ 77

INCOME TAXES (TABLES) (Tables)

INCOME TAXES (TABLES) (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following table provides the Income tax expense (in millions) and effective tax rate for the periods indicated: Three Months Ended 2016 2015 Income tax expense $ 34 $ 13 Effective tax rate 37 % 41 %

GENERAL (DETAIL)

GENERAL (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Cash Flow	$ 33
Other Current Assets [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Balance Sheet		$ 30
Other Noncurrent Assets [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Balance Sheet		6
Accounts Payable and Accrued Liabilities [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Balance Sheet		$ 36

SEGMENT INFORMATION (DETAIL)

SEGMENT INFORMATION (DETAIL) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	$ 1,231	$ 1,203
Income (loss) from Reportable Segments	150	87
General corporate expense and other	(32)	(27)
EBIT	$ 116	58
Charges related to cost reduction actions		2
Number of Reportable Segments | segment	3
Restructuring Costs [Domain]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	$ 0	(2)
Acquisition Costs [Domain]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	(2)	0
Corrected Amount [Domain]
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues		4
United States
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	845	816
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	134	129
Asia Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	145	140
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	107	118
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	473	474
EBIT	64	60
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,287	1,246
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	(56)	(43)
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	385	379
EBIT	13	7
Roofing
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	429	393
EBIT	$ 73	$ 20

INVENTORIES (DETAIL)

INVENTORIES (DETAIL) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 497	$ 436
Materials and supplies	211	208
Total inventories	$ 708	$ 644

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (DETAIL) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Derivatives, Fair Value [Line Items]
Loss Recognized in OCI, Effective Portion	$ 5
Two Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0
Exposure Time	2 months
Four Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0
Exposure Time	4 months
Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer	12 months
Beyond Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer	12 months
Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative, Remaining Maturity	15 months
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative, Cash Received on Hedge	$ 8
Electricity and Foreign Exchange Contracts [Member] | Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0
Electricity and Foreign Exchange Contracts [Member] | Beyond Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0
Foreign Exchange Forward [Member] | United States
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 86
Foreign Exchange Forward [Member] | Europe
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	25
Cash Flow Hedging | United States
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	7
Cash Flow Hedging | Europe
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	1
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	250
Other Current Assets [Member] | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	4	$ 4
Other Current Assets [Member] | Nondesignated | Electricity and Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	1	0
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	5	5
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	0	1
Other Comprehensive Income | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	2	14
Accounts Payable and Accrued Liabilities [Member] | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	5	5
Accounts Payable and Accrued Liabilities [Member] | Nondesignated | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1	1
Accounts Payable and Accrued Liabilities [Member] | Nondesignated | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	3	0
Other Liabilities [Member] | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		0
Other Liabilities [Member] | Designated as Hedging Instrument | Net Investment Hedging [Member] | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	6
Other Noncurrent Assets [Member] | Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	0	4
Other Noncurrent Assets [Member] | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	$ 0	$ 6

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (DETAIL) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Cost Of Sales | Designated as Hedging Instrument | Natural Gas Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss reclassified from OCI into earnings (effective portion)		$ 3	$ 3
Interest Expense | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings		1	0
Other Expense | Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss reclassified from OCI into earnings (effective portion)		1	0
Other Expense | Nondesignated | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings (a)	[1]	$ 3	$ 1
[1]	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 expenses, net.

GOODWILL AND OTHER INTANGIBLE48

GOODWILL AND OTHER INTANGIBLE ASSETS (DETAIL) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2014	Dec. 31, 2015
Goodwill [Roll Forward]
Balance as of December 31, 2014	$ 1,167,000,000
Balance as of March 31, 2015	1,167,000,000
Intangible Assets [Line Items]
Gross carrying amount	1,196,000,000		$ 1,194,000,000
Accumulated amortization	(200,000,000)		(195,000,000)
Intangible assets	996,000,000		999,000,000
Intangible assets amortization expense remainder of year	22,000,000
Intangible assets amortization expense year two	22,000,000
Intangible assets amortization expense year three	22,000,000
Intangible assets amortization expense year four	22,000,000
Intangible assets amortization expense year five	22,000,000
Finite-lived Intangible Assets Acquired	$ 2,000,000
Customer Relationships
Intangible Assets [Line Items]
Weighted average useful life	20 years	20 years
Gross carrying amount	$ 172,000,000		172,000,000
Accumulated amortization	(84,000,000)		(82,000,000)
Net carrying amount	88,000,000		90,000,000
Finite-lived Intangible Assets Acquired	$ 0
Technology
Intangible Assets [Line Items]
Weighted average useful life	21 years	21 years
Gross carrying amount	$ 193,000,000		193,000,000
Accumulated amortization	(95,000,000)		(93,000,000)
Net carrying amount	98,000,000		100,000,000
Finite-lived Intangible Assets Acquired	$ 0
Franchise and Other Agreements
Intangible Assets [Line Items]
Weighted average useful life	9 years	10 years
Gross carrying amount	$ 45,000,000		43,000,000
Accumulated amortization	(21,000,000)		(20,000,000)
Net carrying amount	24,000,000		23,000,000
Finite-lived Intangible Assets Acquired	2,000,000
Trademarks
Intangible Assets [Line Items]
Gross carrying amount	786,000,000		786,000,000
Accumulated amortization	0		0
Indefinite-lived intangible assets	786,000,000		$ 786,000,000
Finite-lived Intangible Assets Acquired	$ 0

PROPERTY, PLANT AND EQUIPMENT49

PROPERTY, PLANT AND EQUIPMENT (DETAIL) $ in Millions	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 4,920	$ 4,811
Accumulated depreciation	(1,932)	(1,855)
Property, plant and equipment, net	$ 2,988	$ 2,956
Precious Metals Percentage	0.15	0.15
Precious Metals Depletion Percentage	0.00%
precious metal percent of deprecation expense	0.03
Land
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 189	$ 186
Buildings and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	806	788
Machinery And Equipment
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	3,557	3,478
Construction In Progress
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 368	$ 359

ACQUISITIONS ACQUISITIONS (DETA

ACQUISITIONS ACQUISITIONS (DETAILS) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 80
InterWrap [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 450

WARRANTIES (DETAIL)

WARRANTIES (DETAIL) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product Warranty Accrual, Beginning Balance	$ 43
Amounts accrued for current year	4
Settlements of warranty claims	(2)
Product Warranty Accrual, Ending Balance	$ 45

COST REDUCTION ACTIONS (DETAIL)

COST REDUCTION ACTIONS (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	2014 Cost Reduction Actions
Restructuring Costs	$ 0
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance	7
Restructuring Reserve, Ending Balance	6
Restructuring Costs	0
Cumulative charges incurred			$ 33
Restructuring Reserve, Settled without Cash	0
Restructuring Reserve	7		6
Payments for Restructuring	(1)
Restructuring Reserve, Translation and Other Adjustment	0
Charges related to cost reduction actions		$ 2
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	2
Marketing and Administrative acquisition cost	2
Employee Severance
Restructuring Reserve Roll Forward
Restructuring Reserve, Ending Balance	5
Restructuring Reserve	5		5
Contract Termination
Restructuring Reserve Roll Forward
Restructuring Reserve, Ending Balance	1
Restructuring Reserve	1		$ 1
Ahlstrom [Member]
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	1
Marketing and Administrative acquisition cost	1
InterWrap [Member]
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	1
Marketing and Administrative acquisition cost	$ 1

DEBT (DETAIL)

DEBT (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2015	Nov. 12, 2014	Oct. 17, 2012	Dec. 31, 2011
Long-Term Debt [Line Items]
Long Term Debt	$ 1,948				$ 1,865
Fair Value Adjustment to Debt	10				6
Long Term Debt Current	163				163
Long Term Debt Noncurrent	1,785				1,702
Line Of Credit Facility Maximum Borrowing Capacity			$ 800
Short-term debt	$ 3				$ 6
Short-term Debt, Weighted Average Interest Rate	0.00%				0.00%
line of credit facility, uncommitted incremental borrowings	$ 600	$ 200
Senior Notes Due 2016
Long-Term Debt [Line Items]
Long Term Debt	158				$ 158
Long Term Debt Current	158
Debt Instrument Face Amount							$ 650
Repayments of Debt			242	$ 250
Debt Instrument, Interest Rate, Stated Percentage								0.00%
Senior Notes Due 2019
Long-Term Debt [Line Items]
Long Term Debt	$ 143				$ 143
Debt Instrument Face Amount							350
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	9.00%				9.00%
Repayments of Debt			$ 105	$ 100
Senior Notes Due 2022
Long-Term Debt [Line Items]
Long Term Debt	$ 596				$ 596
Debt Instrument Face Amount							600
Debt Instrument, Interest Rate, Stated Percentage	0.00%
Senior Notes Due 2036
Long-Term Debt [Line Items]
Long Term Debt	$ 536				$ 536
Debt Instrument Face Amount							$ 540
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	7.00%				7.00%
Letter Of Credit Under Receivables Purchase Agreement
Long-Term Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 151
Long Term Debt	79				$ 0
Line Of Credit Facility Maximum Borrowing Capacity	250
Line Of Credit Facility Amount Outstanding	79
Letters of Credit Outstanding, Amount	2
Senior Revolving Credit Facility B
Long-Term Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	791
Line Of Credit Facility Amount Outstanding	0
Letters of Credit Outstanding, Amount	9
Capital Lease Obligations
Long-Term Debt [Line Items]
Long Term Debt	36				36
Senior Notes Due 2024 [Member]
Long-Term Debt [Line Items]
Long Term Debt	390				$ 390
Debt Instrument Face Amount						$ 400
Other long term debt [Member]
Long-Term Debt [Line Items]
Long Term Debt Current	2
Term Loan [Member]
Long-Term Debt [Line Items]
Long Term Debt	300
Line Of Credit Facility Amount Outstanding	$ 0

PENSION PLANS AND OTHER POSTR54

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 3	$ 3
Interest cost	15	16
Expected return on plan assets	(20)	(21)
Amortization of actuarial loss	4	5
Net periodic pension cost	2	3
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Contributions by Employer	7
United States Pension Plans Of US Entity Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	2	2
Interest cost	11	11
Expected return on plan assets	(14)	(15)
Amortization of actuarial loss	3	4
Net periodic pension cost	2	2
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	50
Foreign Pension Plans Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	1	1
Interest cost	4	5
Expected return on plan assets	(6)	(6)
Amortization of actuarial loss	1	1
Net periodic pension cost	0	1
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	13
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	1	1
Interest cost	2	2
Amortization of prior service cost	(1)	(1)
Net periodic pension cost	$ 2	$ 2

CONTINGENT LIABILITIES AND OT55

CONTINGENT LIABILITIES AND OTHER MATTERS (DETAIL) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)Number
Unusual or Infrequent Item [Line Items]
Environmental Liability Sites	20
Environmental Exit Costs, Reasonably Possible Additional Losses, Best Estimate | $	$ 3
Superfund Site [Domain]
Unusual or Infrequent Item [Line Items]
Environmental Liability Sites	7
Owned or formally owned sites [Domain]
Unusual or Infrequent Item [Line Items]
Environmental Liability Sites	13

STOCK COMPENSATION (DETAIL)

STOCK COMPENSATION (DETAIL) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)	Apr. 18, 2013shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate	0.80%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate			85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	26.60%
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Additional Disclosures Abstract
Number of shares granted	244,250
Number of shares forfeited	(9,200)
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term	2 years 10 months 27 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average fair value of grants | $ / shares	$ 48.74
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Share-based compensation number of options beginning balance	1,953,320
Exercises in period number of options	(94,895)
Forfeitures in period number of options	(11,000)
Share-based compensation number of options ending balance	1,847,425
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance | $ / shares	$ 31.09
Exercises in period weighted average exercise price | $ / shares	30.62
Forfeitures n period weighted average exercise price | $ / shares	38.39
Ending Balance | $ / shares	$ 31.07
Exercise Price Range One
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	1,847,425
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	4 years 2 months 6 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 31.07
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	1,646,100
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term	3 years 9 months 6 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ / shares	$ 30.11
Minimum [Member]
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, Exercisable Options, Weighted Average Exercise Price | $ / shares	13.89
Maximum [Member]
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, Exercisable Options, Weighted Average Exercise Price | $ / shares	$ 42.16
Stock Plan Member, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	1,400,000
EmployeeStock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant			2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Terms of Award, Maximum (in years)		10 years
Allocated Share Based Compensation Expense | $	$ 1	$ 1
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	$ 3
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition	1 year 7 months 20 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value | $	$ 30
Employee emergence equity program expense | $	$ 1
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term	3 years 1 month
Allocated Share Based Compensation Expense | $	$ 4	4
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	41
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $	$ 14	15
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	1,707,490
Number of shares granted	491,971
Number of shares vested	(358,924)
Number of shares forfeited	(18,625)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	1,821,912
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance | $ / shares	$ 35.37
Weighted average fair value of grants | $ / shares	45.20
Weighted average fair value of vested | $ / shares	38
Weighted average fair value of forfeited | $ / shares	37.58
Ending Balance | $ / shares	$ 37.47
Performance Stock Units (PSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Allocated Share Based Compensation Expense | $	$ 2	$ 2
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	$ 17
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition	2 years 2 months 10 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	431,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	666,450
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance | $ / shares	$ 44.52
Weighted average fair value of forfeited | $ / shares	44.52
Ending Balance | $ / shares	$ 46.07
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	1,500,000
Allocated Share Based Compensation Expense | $	$ 1
Internal Based Performance Metric [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Stock Payout Minimum	0
Performance Stock Payout Range Maximum	3
External Based Performance Metric [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Stock Payout Minimum	0
Performance Stock Payout Range Maximum	2
Stock Plan Member, 2016 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant	2,500,000

EARNINGS PER SHARE (DETAIL)

EARNINGS PER SHARE (DETAIL) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Apr. 25, 2012
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	3,800,000
Net earnings attributable to Owens Corning	$ 57	$ 18
Weighted-average number of shares outstanding used for basic earnings per share	115,500,000	117,800,000
Non-vested restricted and performance shares	600,000	300,000
Options to purchase common stock	400,000	400,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	116,500,000	118,500,000
Basic (in dollars per share)	$ 0.49	$ 0.15
Diluted (in dollars per share)	$ 0.49	$ 0.15
Stock Repurchased During Period, Shares	800,000
Payments for Repurchase of Equity	$ 36
Repurchase Program 2012
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			10,000,000
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	500,000	100,000
Equity Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	500,000	600,000
Performance Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	100,000	100,000

FAIR VALUE MEASUREMENT (DETAIL)

FAIR VALUE MEASUREMENT (DETAIL) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Assets:
Derivative assets	$ 5	$ 14
Liabilities:
Derivative liabilities	$ 15	$ 6
Senior Notes Due 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	102.00%	103.00%
Senior Notes Due 2036
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	7.00%	7.00%
Notes Payable, Fair Value Disclosure, Par Value	109.00%	105.00%
Senior Notes Due 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	9.00%	9.00%
Notes Payable, Fair Value Disclosure, Par Value	115.00%	116.00%
Senior Notes Due 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	102.00%	99.00%
Senior Notes Due 2024 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	101.00%	100.00%
Fair Value Inputs Level 1
Assets:
Derivative assets	$ 0	$ 0
Liabilities:
Derivative liabilities	0	0
Fair Value Inputs Level 2
Assets:
Derivative assets	5	14
Liabilities:
Derivative liabilities	15	6
Fair Value Inputs Level 3
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	$ 0	$ 0

INCOME TAXES (DETAIL)

INCOME TAXES (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Valuation Allowance [Line Items]
Current Income Tax Expense (Benefit)	$ 34	$ 13
Effective Income Tax Rate Continuing Operations	0.00%	0.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	0.00%
Minimum [Member]
Valuation Allowance [Line Items]
Operating Loss Carryforwards, Valuation Allowance	$ 0
Maximum [Member]
Valuation Allowance [Line Items]
Operating Loss Carryforwards, Valuation Allowance	$ 13

CHANGES IN ACCUMULATED OTHER 60

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance	$ (670)
Deferred loss on hedging transactions (net of tax)	1	$ 1
Reclassification adjustment from AOCI postretirement benefit plans tax	3	0
Pension and other postretirement adjustment (net of tax)	10	8
Translation impact on non-US. Plans	34	(50)
Total AOCI ending balance	(625)	(591)
Net Pension OCI Gains	8	6
Pension Plan [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Pension and other postretirement adjustment (net of tax)	$ (5)	$ 0

CHANGES IN ACCUMULATED OTHER 61

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	$ (670)
Other comprehensive income, net of tax	1	$ 1
Income tax Expense/(Benefit) of amounts reclassified from AOCI to income	(3)	0
Translation impact on non-US. Plans	34	(50)
Other comprehensive income/(loss), net of tax	10	8
Total AOCI ending balance	(625)	(591)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	(247)	(132)
Gain/(loss) on foreign currency translation	41	(57)
(Loss)/gain on net investment hedge	12	(12)
Income tax benefit/(expense) of amount classified into AOCI	(5)	5
Translation impact on non-US. Plans	34	(50)
Total AOCI ending balance	(213)	(182)
Ending balance
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	(4)	(5)
Change in mark to market hedges	(3)	(1)
Income tax benefit of amount classified into AOCI	(1)	0
Net loss on derivative instruments	(2)	(1)
Amounts reclassified from AOCI to income	(4)	(3)
Income tax benefit of amounts reclassified from AOCI to income	(1)	(1)
Net gain reclassified from AOCI to net income	(3)	(2)
Other comprehensive income, net of tax	1	1
Total AOCI ending balance	(3)	(4)
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total AOCI beginning balance	(419)	(413)
Amortization of actuarial (Gain)/Loss	(4)	(5)
Amortization of prior service (Gain)/Cost	(1)	(1)
Income tax Expense/(Benefit) of amounts reclassified from AOCI to income	1	2
Net amortization and Gains/(Losses) reclassified from AOCI to net income	2	2
Translation impact on non-US. Plans	0	6
Other comprehensive income/(loss), net of tax	(10)	(8)
Total AOCI ending balance	(409)	(405)
Pension Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income/(loss), net of tax	$ (5)	$ 0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Statements Captions [Line Items]
NET SALES	$ 1,231	$ 1,203
COST OF SALES	959	994
Gross margin	272	209
OPERATING EXPENSES
Marketing and administrative expenses	134	129
Science and technology expenses	19	17
Charges related to cost reduction actions		2
Other (income) expenses, net	3	5
Total operating expenses	156	151
EARNINGS BEFORE INTEREST AND TAXES	116	58
Interest expense, net	23	26
EARNINGS BEFORE TAXES	93	32
Income tax expense	34	13
Equity in net earnings of subsidiaries	0	0
NET EARNINGS	59	19
Net earnings attributable to noncontrolling interests	2	1
Net Income (Loss) Attributable to Parent	57	18
Parent Company
Condensed Financial Statements Captions [Line Items]
NET SALES	0	0
COST OF SALES	1	0
Gross margin	(1)	0
OPERATING EXPENSES
Marketing and administrative expenses	33	32
Science and technology expenses	0	0
Other (income) expenses, net	(2)	(8)
Total operating expenses	31	24
EARNINGS BEFORE INTEREST AND TAXES	(32)	(24)
Interest expense, net	22	24
EARNINGS BEFORE TAXES	(54)	(48)
Income tax expense	(19)	(15)
Equity in net earnings of subsidiaries	92	51
NET EARNINGS	57	18
Net earnings attributable to noncontrolling interests	0	0
Net Income (Loss) Attributable to Parent	57	18
Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET SALES	887	841
COST OF SALES	730	721
Gross margin	157	120
OPERATING EXPENSES
Marketing and administrative expenses	72	68
Science and technology expenses	16	14
Other (income) expenses, net	12	6
Total operating expenses	100	88
EARNINGS BEFORE INTEREST AND TAXES	57	32
Interest expense, net	0	1
EARNINGS BEFORE TAXES	57	31
Income tax expense	24	9
Equity in net earnings of subsidiaries	59	29
NET EARNINGS	92	51
Net earnings attributable to noncontrolling interests	0	0
Net Income (Loss) Attributable to Parent	92	51
Non Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET SALES	458	457
COST OF SALES	342	368
Gross margin	116	89
OPERATING EXPENSES
Marketing and administrative expenses	29	29
Science and technology expenses	3	3
Other (income) expenses, net	(7)	7
Total operating expenses	25	39
EARNINGS BEFORE INTEREST AND TAXES	91	50
Interest expense, net	1	1
EARNINGS BEFORE TAXES	90	49
Income tax expense	29	19
Equity in net earnings of subsidiaries	0	0
NET EARNINGS	61	30
Net earnings attributable to noncontrolling interests	2	1
Net Income (Loss) Attributable to Parent	59	29
Consolidation Eliminations
Condensed Financial Statements Captions [Line Items]
NET SALES	(114)	(95)
COST OF SALES	(114)	(95)
Gross margin	0	0
OPERATING EXPENSES
Marketing and administrative expenses	0	0
Science and technology expenses	0	0
Other (income) expenses, net	0	0
Total operating expenses	0	0
EARNINGS BEFORE INTEREST AND TAXES	0	0
Interest expense, net	0	0
EARNINGS BEFORE TAXES	0	0
Income tax expense	0	0
Equity in net earnings of subsidiaries	(151)	(80)
NET EARNINGS	(151)	(80)
Net earnings attributable to noncontrolling interests	0	0
Net Income (Loss) Attributable to Parent	$ (151)	$ (80)

CONDENSED CONSOLIDATED STATEM63

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	$ 59	$ 19
Currency translation adjustment (net of tax)	34	(50)
Pension and other postretirement adjustment (net of tax)	10	8
Deferred loss on hedging transactions (net of tax)	1	1
COMPREHENSIVE EARNINGS (LOSS)	104	(22)
Comprehensive earnings attributable to noncontrolling interests	2	1
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	102	(23)
Parent Company
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	57	18
Currency translation adjustment (net of tax)	34	(50)
Pension and other postretirement adjustment (net of tax)	10	8
Deferred loss on hedging transactions (net of tax)	1	1
COMPREHENSIVE EARNINGS (LOSS)	102	(23)
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	102	(23)
Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	92	51
Currency translation adjustment (net of tax)	0	0
Pension and other postretirement adjustment (net of tax)	0	0
Deferred loss on hedging transactions (net of tax)	0	0
COMPREHENSIVE EARNINGS (LOSS)	92	51
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	92	51
Non Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	61	30
Currency translation adjustment (net of tax)	0	0
Pension and other postretirement adjustment (net of tax)	0	0
Deferred loss on hedging transactions (net of tax)	0	0
COMPREHENSIVE EARNINGS (LOSS)	61	30
Comprehensive earnings attributable to noncontrolling interests	2	1
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	59	29
Consolidation Eliminations
Condensed Financial Statements Captions [Line Items]
NET EARNINGS	(151)	(80)
Currency translation adjustment (net of tax)	0	0
Pension and other postretirement adjustment (net of tax)	0	0
Deferred loss on hedging transactions (net of tax)	0	0
COMPREHENSIVE EARNINGS (LOSS)	(151)	(80)
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	$ (151)	$ (80)

CONDENSED CONSOLIDATED BALANC64

CONDENSED CONSOLIDATED BALANCE SHEET (DETAIL) - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents		$ 54	$ 96	$ 77	$ 67
Receivables, less allowances		785	709
Due from affiliates		0	0
Inventories		708	644
Assets held for sale		13	12
Other current assets		50	47
Total current assets		1,610	1,508
Investment in subsidiaries		0	0
Due from affiliates		0	0
Property, plant and equipment, net		2,988	2,956
Goodwill		1,167	1,167
Intangible assets, net		996	999
Deferred income taxes		475	492
Other non-current assets		219	222
TOTAL ASSETS		7,455	7,344
CURRENT LIABILITIES
Accounts payable and accrued liabilities		893	912
Due to affiliates		0	0
Short-term debt		3	6
Long-term debt – current portion		163	163
Total current liabilities		1,059	1,081
Long-term debt, net of current portion		1,785	1,702
Due to affiliates		0	0
Pension plan liability		384	397
Other employee benefits liability		237	240
Deferred income taxes		9	8
Other liabilities		153	137
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock	[1]	0	0
Common stock	[2]	1	1
Additional paid in capital		3,956	3,965
Accumulated earnings		1,091	1,055
Accumulated other comprehensive deficit		(625)	(670)	(591)
Cost of common stock in treasury	[3]	(636)	(612)
Total Owens Corning stockholders’ equity		3,787	3,739
Noncontrolling interests		41	40
Total equity		3,828	3,779
TOTAL LIABILITIES AND EQUITY		7,455	7,344
Parent Company
CURRENT ASSETS
Cash and cash equivalents		0	0	0	0
Receivables, less allowances		0	0
Due from affiliates		0	0
Inventories		0	0
Assets held for sale		0	0
Other current assets		10	11
Total current assets		10	11
Investment in subsidiaries		7,842	7,704
Due from affiliates		0	0
Property, plant and equipment, net		466	463
Goodwill		0	0
Intangible assets, net		0	0
Deferred income taxes		3	0
Other non-current assets		14	25
TOTAL ASSETS		8,335	8,203
CURRENT LIABILITIES
Accounts payable and accrued liabilities		58	56
Due to affiliates		2,323	2,244
Short-term debt		0	0
Long-term debt – current portion		159	160
Total current liabilities		2,540	2,460
Long-term debt, net of current portion		1,673	1,668
Due to affiliates		0	0
Pension plan liability		283	286
Other employee benefits liability		0	0
Deferred income taxes		0	0
Other liabilities		52	50
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock		0	0
Common stock		1	1
Additional paid in capital		3,956	3,965
Accumulated earnings		1,091	1,055
Accumulated other comprehensive deficit		(625)	(670)
Cost of common stock in treasury		(636)	(612)
Total Owens Corning stockholders’ equity		3,787	3,739
Noncontrolling interests		0	0
Total equity		3,787	3,739
TOTAL LIABILITIES AND EQUITY		8,335	8,203
Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents		0	48	4	1
Receivables, less allowances		0	0
Due from affiliates		3,116	3,148
Inventories		414	389
Assets held for sale		0	0
Other current assets		23	21
Total current assets		3,553	3,606
Investment in subsidiaries		2,657	2,503
Due from affiliates		0	0
Property, plant and equipment, net		1,421	1,404
Goodwill		1,127	1,127
Intangible assets, net		965	970
Deferred income taxes		417	430
Other non-current assets		68	64
TOTAL ASSETS		10,208	10,104
CURRENT LIABILITIES
Accounts payable and accrued liabilities		534	682
Due to affiliates		51	0
Short-term debt		2	0
Long-term debt – current portion		2	2
Total current liabilities		589	684
Long-term debt, net of current portion		14	14
Due to affiliates		795	739
Pension plan liability		0	0
Other employee benefits liability		226	227
Deferred income taxes		0	0
Other liabilities		183	177
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock		0	0
Common stock		0	0
Additional paid in capital		6,302	6,260
Accumulated earnings		2,099	2,003
Accumulated other comprehensive deficit		0	0
Cost of common stock in treasury		0	0
Total Owens Corning stockholders’ equity		8,401	8,263
Noncontrolling interests		0	0
Total equity		8,401	8,263
TOTAL LIABILITIES AND EQUITY		10,208	10,104
Non Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents		54	48	73	66
Receivables, less allowances		785	709
Due from affiliates		0	0
Inventories		294	255
Assets held for sale		13	12
Other current assets		17	15
Total current assets		1,163	1,039
Investment in subsidiaries		559	559
Due from affiliates		795	739
Property, plant and equipment, net		1,101	1,089
Goodwill		40	40
Intangible assets, net		159	160
Deferred income taxes		55	62
Other non-current assets		137	133
TOTAL ASSETS		4,009	3,821
CURRENT LIABILITIES
Accounts payable and accrued liabilities		301	174
Due to affiliates		742	904
Short-term debt		1	6
Long-term debt – current portion		2	1
Total current liabilities		1,046	1,085
Long-term debt, net of current portion		98	20
Due to affiliates		0	0
Pension plan liability		101	111
Other employee benefits liability		11	13
Deferred income taxes		9	8
Other liabilities		46	41
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock		0	0
Common stock		0	0
Additional paid in capital		1,712	1,618
Accumulated earnings		945	885
Accumulated other comprehensive deficit		0	0
Cost of common stock in treasury		0	0
Total Owens Corning stockholders’ equity		2,657	2,503
Noncontrolling interests		41	40
Total equity		2,698	2,543
TOTAL LIABILITIES AND EQUITY		4,009	3,821
Consolidation Eliminations
CURRENT ASSETS
Cash and cash equivalents		0	0	$ 0	$ 0
Receivables, less allowances		0	0
Due from affiliates		(3,116)	(3,148)
Inventories		0	0
Assets held for sale		0	0
Other current assets		0	0
Total current assets		(3,116)	(3,148)
Investment in subsidiaries		(11,058)	(10,766)
Due from affiliates		(795)	(739)
Property, plant and equipment, net		0	0
Goodwill		0	0
Intangible assets, net		(128)	(131)
Deferred income taxes		0	0
Other non-current assets		0	0
TOTAL ASSETS		(15,097)	(14,784)
CURRENT LIABILITIES
Accounts payable and accrued liabilities		0	0
Due to affiliates		(3,116)	(3,148)
Short-term debt		0	0
Long-term debt – current portion		0	0
Total current liabilities		(3,116)	(3,148)
Long-term debt, net of current portion		0	0
Due to affiliates		(795)	(739)
Pension plan liability		0	0
Other employee benefits liability		0	0
Deferred income taxes		0	0
Other liabilities		(128)	(131)
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock		0	0
Common stock		0	0
Additional paid in capital		(8,014)	(7,878)
Accumulated earnings		(3,044)	(2,888)
Accumulated other comprehensive deficit		0	0
Cost of common stock in treasury		0	0
Total Owens Corning stockholders’ equity		(11,058)	(10,766)
Noncontrolling interests		0	0
Total equity		(11,058)	(10,766)
TOTAL LIABILITIES AND EQUITY		$ (15,097)	$ (14,784)
[1]	shares authorized; none issued or outstanding at March 31, 2016 and
[2]	0 shares authorized; 135.5 issued and 115.6 outstanding at March 31, 2016; 135.5 issued and 115.9 outstanding at
[3]	shares at March 31, 2016, and 19.6 shares at

CONDENSED CONSOLIDATED STATEM65

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (DETAIL) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES	$ 63	$ (116)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(98)	(89)
Net cash flow used for investing activities	(98)	(89)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	150	529
Payments on senior revolving credit and receivables securitization facilities	(71)	(247)
Net decrease in short-term debt	(3)	(17)
Cash dividends paid	(40)	(39)
Purchases of treasury stock	(43)	(19)
Other intercompany loans	0	0
Other	(1)	7
Net cash flow (used for) provided by financing activities	(8)	214
Effect of exchange rate changes on cash	1	1
Net (decrease) increase in cash and cash equivalents	(42)	10
Cash and cash equivalents at beginning of period	96	67
Cash and cash equivalents at end of period	54	77
Parent Company
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(7)	0
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(1)	0
Net cash flow used for investing activities	(1)	0
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	398
Payments on senior revolving credit and receivables securitization facilities	0	(247)
Net decrease in short-term debt	0	0
Cash dividends paid	(40)	(39)
Purchases of treasury stock	(43)	(19)
Other intercompany loans	92	(100)
Other	(1)	7
Net cash flow (used for) provided by financing activities	8	0
Effect of exchange rate changes on cash	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES	31	(140)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(68)	(63)
Net cash flow used for investing activities	(68)	(63)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Net decrease in short-term debt	2	(25)
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	(13)	231
Other	0	0
Net cash flow (used for) provided by financing activities	(11)	206
Effect of exchange rate changes on cash	0	0
Net (decrease) increase in cash and cash equivalents	(48)	3
Cash and cash equivalents at beginning of period	48	1
Cash and cash equivalents at end of period	0	4
Non Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES	39	24
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(29)	(26)
Net cash flow used for investing activities	(29)	(26)
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	150	131
Payments on senior revolving credit and receivables securitization facilities	(71)	0
Net decrease in short-term debt	(5)	8
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	(79)	(131)
Other	0	0
Net cash flow (used for) provided by financing activities	(5)	8
Effect of exchange rate changes on cash	1	1
Net (decrease) increase in cash and cash equivalents	6	7
Cash and cash equivalents at beginning of period	48	66
Cash and cash equivalents at end of period	54	73
Consolidation Eliminations
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY (USED FOR) OPERATING ACTIVITIES	0	0
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	0	0
Net cash flow used for investing activities	0	0
NET CASH FLOW (USED FOR) PROVIDED BY FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Net decrease in short-term debt	0	0
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	0	0
Other	0	0
Net cash flow (used for) provided by financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0