Owens Corning (OC) 10-Q 26 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 17, 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	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock Shares Outstanding		113,323,477

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
NET SALES	$ 1,518	$ 1,447	$ 4,294	$ 4,053
COST OF SALES	1,144	1,107	3,232	3,196
Gross margin	374	340	1,062	857
OPERATING EXPENSES
Marketing and administrative expenses	141	130	426	389
Science and technology expenses	20	18	60	53
Other expenses (income), net	6	(4)	13	5
Total operating expenses	167	144	499	447
EARNINGS BEFORE INTEREST AND TAXES	207	196	563	410
Interest expense, net	28	28	80	80
Gains (Losses) on Extinguishment of Debt	1	0	1	(5)
EARNINGS BEFORE TAXES	178	168	482	335
Income tax expense	65	55	172	112
Equity in net earnings of affiliates	0	0	1	1
NET EARNINGS	113	113	311	224
Net earnings attributable to noncontrolling interests	1	1	4	3
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 112	$ 112	$ 307	$ 221
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 0.98	$ 0.96	$ 2.67	$ 1.88
Diluted (in dollars per share)	0.97	0.95	2.65	1.87
Dividend (in dollars per share)	$ 0.18	$ 0.17	$ 0.54	$ 0.51
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	114.1	117.2	114.9	117.5
Diluted (in shares)	115.4	118.3	116	118.4

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 2	$ (2)	$ 3	$ (4)
NET EARNINGS	113	113	311	224
Currency translation adjustment (net of tax)	(2)	(38)	19	(81)
Pension and other postretirement adjustment (net of tax of $(1) and $(1) for the three months ended September 30, 2016 and 2015, respectively, and $2 and $(4) for the nine months ended September 30, 2016 and 2015, respectively)	4	6	14	12
Deferred gain on hedging (net of tax of $0 and $1 for the three months ended September 30, 2016 and 2015, respectively, and $(2) and $(1) for the nine months ended September 30, 2016 and 2015, respectively)	1	(1)	5	2
COMPREHENSIVE EARNINGS	116	80	349	157
Net earnings attributable to noncontrolling interests	1	1	4	3
Comprehensive earnings attributable to noncontrolling interests	1	1	4	3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	115	79	345	154
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax	(1)	(1)	2	4
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	$ 0	$ 1	$ (2)	$ (1)

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Pension and other postretirement tax	$ (1)	$ (1)	$ 2	$ 4
Deferred loss on hedging tax	0	1	(2)	(1)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 2	$ (2)	$ 3	$ (4)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents		$ 110	$ 96	$ 62	$ 67
Receivables, less allowances of $10 at September 30, 2016 and $8 at December 31, 2015		796	709
Inventories		729	644
Assets held for sale		13	12
Other current assets		54	47
Total current assets		1,702	1,508
Property, plant and equipment, net		3,090	2,956
Goodwill		1,338	1,167
Intangible assets, net		1,146	999
Deferred income taxes		369	492
Other non-current assets		231	222
TOTAL ASSETS		7,876	7,344
CURRENT LIABILITIES
Accounts payable and accrued liabilities		999	912
Short-term debt		1	6
Long-term debt – current portion		3	163
Total current liabilities		1,003	1,081
Long-term debt, net of current portion		2,160	1,702
Pension plan liability		321	397
Other employee benefits liability		237	240
Deferred income taxes		36	8
Redeemable equity		182	137
Redeemable Noncontrolling Interest, Equity, Carrying Amount		2	0
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		3,973	3,965
Accumulated earnings		1,299	1,055
Accumulated other comprehensive deficit		(632)	(670)	$ (617)
Cost of common stock in treasury (c)	[3]	(748)	(612)
Total Owens Corning stockholders’ equity		3,893	3,739
Noncontrolling interests		42	40
Total equity		3,935	3,779
TOTAL LIABILITIES AND EQUITY		$ 7,876	$ 7,344
[1]	10 shares authorized; none issued or outstanding at September 30, 2016 and December 31, 2015
[2]	400 shares authorized; 135.5 issued and 113.6 outstanding at September 30, 2016; 135.5 issued and 115.9 outstanding at December 31, 2015
[3]	21.9 shares at September 30, 2016, and 19.6 shares at December 31, 2015

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 10	$ 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	113,600,000	115,900,000
Treasury stock shares	21,900,000	19,600,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Cash Flows [Abstract]
Net Income (Loss) Attributable to Parent	$ 307	$ 221
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS	311	224
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization	242	224
Gain on sale of fixed assets	0	(1)
Deferred income taxes	127	75
Provision for pension and other employee benefits liabilities	6	10
Stock-based compensation expense	25	22
Other non-cash	(7)	(6)
Gains (Losses) on Extinguishment of Debt	1	(5)
Changes in operating assets and liabilities	27	(76)
Pension fund contribution	(60)	(59)
Payments for other employee benefits liabilities	(14)	(16)
Other	21	18
Net cash flow provided by operating activities	679	410
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(281)	(266)
Proceeds from the sale of assets or affiliates	0	3
Investment in subsidiaries and affiliates, net of cash acquired	(450)	0
Other	2	0
Net cash flow used for investing activities	(729)	(263)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	574	1,079
Proceeds from Issuance of Other Long-term Debt	395	0
Proceeds from term loan borrowing	300	0
Repayments of Other Long-term Debt		0
Payments on senior revolving credit and receivables securitization facilities	(514)	(1,082)
Payments on long-term debt	(160)	(8)
Net decrease in short-term debt	(5)	(10)
Cash dividends paid	(61)	(58)
Purchases of treasury stock	(176)	(86)
Other	10	18
Net cash flow provided by (used for) financing activities	63	(147)
Proceeds from (Repayments of) Other Long-term Debt	(300)
Effect of exchange rate changes on cash	1	(5)
Net increase (decrease) in cash and cash equivalents	14	(5)
Cash and cash equivalents at beginning of period	96	67
Cash and cash equivalents at end of period	$ 110	$ 62

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 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. As of December 31, 2015, 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 . As of December 31, 2014, this resulted in a decrease to the previously reported Other current assets of $34 million , Other non-current assets of $7 million and Accounts payable and accrued liabilities of $41 million . These revisions were deemed immaterial to the current and prior periods and had no impact on the Consolidated and Condensed Consolidating Statements of Earnings or 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 nine months ended September 30, 2015. For the nine months ended September 30, 2015, the impact of this revision increased cash used for Cash paid for property, plant and equipment and decreased cash used for Changes in operating assets and liabilities by $26 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	9 Months Ended
	Sep. 30, 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, roofing accessories used in residential and commercial construction and specialty applications, and synthetic packaging materials. 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 and nine months ended September 30, 2015, the previously reported Net sales and Cost of sales were overstated by $14 million and $29 million , respectively. 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 Nine Months Ended 2016 2015 2016 2015 Reportable Segments Composites $ 496 $ 486 $ 1,486 $ 1,457 Insulation 476 502 1,275 1,332 Roofing 603 502 1,711 1,398 Total reportable segments 1,575 1,490 4,472 4,187 Corporate eliminations (57 ) (43 ) (178 ) (134 ) NET SALES $ 1,518 $ 1,447 $ 4,294 $ 4,053 External Customer Sales by Geographic Region United States $ 1,068 $ 1,020 $ 3,010 $ 2,810 Europe 136 128 422 393 Asia Pacific 174 178 493 492 Other 140 121 369 358 NET SALES $ 1,518 $ 1,447 $ 4,294 $ 4,053 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 Nine Months Ended 2016 2015 2016 2015 Reportable Segments Composites $ 61 $ 61 $ 199 $ 188 Insulation 38 58 83 90 Roofing 146 103 388 213 Total reportable segments 245 222 670 491 Restructuring costs (5 ) (2 ) (8 ) (4 ) Acquisition-related costs for InterWrap and Ahlstrom transactions (4 ) — (8 ) — Recognition of InterWrap inventory fair value step-up (2 ) — (10 ) — General corporate expense and other (27 ) (24 ) (81 ) (77 ) EBIT $ 207 $ 196 $ 563 $ 410

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): September 30, 2016 December 31, 2015 Finished goods $ 495 $ 436 Materials and supplies 234 208 Total inventories $ 729 $ 644

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 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 September 30, 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 September 30, 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 $ 5 $ 14 Fair value hedges Interest rate swaps Other non-current assets $ — $ 4 Cash flow hedges: Natural gas forward swaps Other current assets $ 2 $ — Amount of gain recognized in OCI (effective portion) OCI $ 1 $ — Derivative liabilities designated as hedging instruments: Net investment hedges Cross currency swaps Other liabilities $ 4 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ — $ 5 Amount of loss recognized in OCI related to natural gas forward swaps (effective portion) OCI $ — $ 5 Amount of loss recognized in OCI related to foreign exchange contracts (effective portion) OCI $ — $ 1 Amount of loss recognized in OCI related to treasury interest rate lock 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 Foreign exchange contracts Accounts payable and accrued liabilities $ 1 $ — The following table presents the notional amount of derivatives and hedging instruments on the Consolidated Balance Sheet (in millions): Notional Amount Unit of Measure September 30, 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 $98 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 British Pounds, Russian Rubles, and U.S. Dollars for $38 million . The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Nine Months Ended Location 2016 2015 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 $ 1 $ 2 $ 7 $ 8 Foreign Currency Amount of loss reclassified from OCI into earnings (effective portion) Other expenses (income), net $ — $ — $ 1 $ — Interest rate swaps: Amount of loss recognized in earnings Interest expense, net $ — $ — $ 1 $ — Derivative activity not designated as hedging instruments: Natural gas and electricity: Amount of (gain) recognized in earnings Other expenses (income), net $ (1 ) $ — $ (1 ) $ (1 ) Foreign currency exchange contract: Amount of (gain)/loss recognized in earnings (a) Other expenses (income), net $ (1 ) $ (3 ) $ 5 $ (3 ) (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 (income), 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 (income), 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. In June 2016, the Company entered into a $200 million forward U.S. Treasury rate lock agreement to manage the U.S. Treasury portion of its interest rate risk associated with the anticipated issuance of 10 -year fixed rate senior notes in 2016. The locked fixed rate of this agreement was 1.633% . In July 2016, the Company entered into a similar forward U.S. Treasury rate lock agreement for $100 million at a locked fixed rate of 1.490% . The Company designated these outstanding forward U.S. Treasury rate lock agreements, which would have expired on September 15, 2016, as cash flow hedges. The Company paid $1 million to settle these agreements in August 2016 upon issuance of its 2026 senior notes, effectively locking in the U.S. Treasury fixed interest rate in effect at the time the agreements were initiated. The $1 million fair value of these agreements will be amortized over the remaining life of the senior notes as a component of interest expens e. Hedge ineffectiveness for these agreements was less than $1 million . Please refer to Note 10 of the Consolidated Financial Statements for further information on the issuance of the 2026 senior notes. As of September 30, 2016 , $1 million of gains included in accumulated OCI on the Consolidated Balance Sheets relate to natural gas 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 (income), 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 (income), net on the Consolidated Statements of Earnings.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	Intangible assets and goodwill consist of the following (in millions): September 30, 2016 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 22 $ 253 $ (91 ) $ 162 Technology 19 216 (100 ) 116 Franchise and other agreements 9 46 (23 ) 23 Indefinite-lived intangible assets: Trademarks 845 — 845 Total intangible assets $ 1,360 $ (214 ) $ 1,146 Goodwill $ 1,338 December 31, 2015 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 18 $ 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 Other Intangible Assets The Company expects the ongoing amortization expense for amortizable intangible assets to be approximately $27 million in each of the next five fiscal years. 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 Acquisitions (see Note 7) 81 23 — 59 163 Additional Franchises and Agreements — — 3 — 3 Balance at September 30, 2016 $ 253 $ 216 $ 46 $ 845 $ 1,360 Goodwill During the first nine months of 2016, goodwill increased by $171 million as a result of the acquisition of InterWrap Holdings, Inc. ("InterWrap"); see Note 7 for more details of this acquisition. 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 nine months of 2016. The changes in the net carrying amount of goodwill by segment are as follows (in millions): Composites Insulation Roofing Total Balance at December 31, 2015 $ 56 $ 888 $ 223 $ 1,167 Acquisitions (see Note 7) — — 171 171 Balance at September 30, 2016 $ 56 $ 888 $ 394 $ 1,338

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPTMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): September 30, December 31, 2015 Land $ 192 $ 186 Buildings and leasehold improvements 872 788 Machinery and equipment 3,739 3,478 Construction in progress 265 359 5,068 4,811 Accumulated depreciation (1,978 ) (1,855 ) Property, plant and equipment, net $ 3,090 $ 2,956 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 14% and 15% of total machinery and equipment as of September 30, 2016 and December 31, 2015 , respectively. Precious metals used in our production tooling are depleted as they are consumed during the production process, which typically represents an annual expense of less than 3% of the outstanding carrying value.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	On April 21, 2016, the Company acquired all outstanding shares of InterWrap, a leading manufacturer of roofing underlayment and packaging materials, for approximately $450 million , net of cash acquired. This acquisition expands the Company’s position in roofing components, strengthens the Company’s capabilities to support the conversion from organic to synthetic underlayment and accelerates its growth in the roofing components market. Interwrap's operating results and a preliminary purchase price allocation have been included in the Roofing segment of the Company's Consolidated Financial Statements since the date of the acquisition. The Company is continuing to obtain information to complete its valuation of certain assets and liabilities including intangible assets and tax assets. During the quarter ended September 30, 2016, the Company recorded certain immaterial measurement period adjustments to the purchase price allocation, in addition to correcting a $9 million classification error on the Consolidated Balance Sheet that reduced both Goodwill and Accounts payable and accrued liabilities. The effect of this error was not material to any previously issued financial statements. Both of these adjustments are reflected in the value of goodwill noted below. The Company's acquisition of InterWrap included intangible assets preliminarily valued at $163 million . These assets consist of indefinite-lived trademarks of $59 million , customer relationships of $81 million with an estimated weighted average life of 25 years , and technology, including patented technology, of $23 million with an estimated weighted average useful life of 14 years . Goodwill is preliminarily valued at approximately $171 million with $20 million expected to be tax-deductible. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the InterWrap acquisition and will support continued market growth through conversion from organic to synthetic underlayment, as well as provide growth opportunities in lumber and metal packaging. Please refer to Note 5 for further information on these intangible assets. The acquisition also included inventory valued at $72 million . During the the first nine months of 2016, the Consolidated Statements of Earnings included $121 million in Net sales attributable to the acquisition and a $10 million charge related to inventory fair value step-up in Cost of sales. The pro forma effect of this acquisition on earnings and revenue was not material. On July 26, 2016, the Company and Ahlstrom agreed to terminate the previously announced purchase agreement of the non-wovens and fabrics business of Ahlstrom due to challenges associated with obtaining regulatory clearance in Germany. In connection with the termination of the purchase agreement, the Company paid Ahlstrom a termination fee of approximately $3 million . The expense was included within Other expenses (income), net in the Consolidated Statements of Earnings in the third quarter of 2016.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 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): Nine Months Ended September 30, 2016 Beginning balance $ 43 Amounts accrued for current year 17 Settlements of warranty claims (10 ) Ending balance $ 50

COST REDUCTION ACTIONS

COST REDUCTION ACTIONS	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
COST REDUCTION ACTIONS	9. RESTRUCTURING AND ACQUISITION-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 nine months of 2016, the Company incurred $8 million of transaction and integration costs related to its announced acquisitions, including a $3 million termination fee paid in the third quarter of 2016 to terminate the Ahlstrom purchase agreement. Please refer to Note 7 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded in the Corporate, Other and Eliminations category. See Restructuring Costs section below for detail on additional costs related to the InterWrap acquisition. The following table presents the impact and respective location of acquisition-related costs for the first nine months of 2016 on the Consolidated Statements of Earnings (in millions): Location Ahlstrom Acquisition InterWrap Acquisition Total Marketing and administrative expenses $ 1 $ 4 $ 5 Other expenses (income), net 3 — 3 Total acquisition-related costs $ 4 $ 4 $ 8 Restructuring Costs 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. In the first nine months of 2016, the Company incurred $6 million of charges for this restructuring, comprised of facility optimization costs, revision of estimated severance costs and a pension-related charge. InterWrap Acquisition-Related Restructuring Costs Following the acquisition of InterWrap into the Company's Roofing segment, the Company took actions to realize expected synergies from the newly acquired operations. In the first nine months of 2016, the Company incurred $2 million of accelerated depreciation charges for this restructuring. The following table summarizes the status of the unpaid liabilities from the Company's restructuring activity (in millions): InterWrap Acquisition-Related Restructuring 2014 Cost Reduction Actions Total Balance at December 31, 2015 $ — $ 7 $ 7 Restructuring costs 2 6 8 Payments — (7 ) (7 ) Non-cash items and reclassifications to other accounts (2 ) (2 ) (4 ) Balance at September 30, 2016 $ — $ 4 $ 4 Cumulative charges incurred $ 2 $ 44 $ 46 The Company expects the unpaid balance of these restructuring costs to be paid over the next year. As of September 30, 2016 , the remaining liability balance is comprised of $3 million of severance and $1 million of contract termination.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT	ails of the Company’s outstanding long-term debt are as follows (in millions): September 30, 2016 December 31, 2015 6.50% senior notes, net of discount and financing fees, due 2016 $ — $ 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 391 390 3.40% senior notes, net of discount and financing fees, due 2026 395 — 7.00% senior notes, net of discount and financing fees, due 2036 536 536 Accounts receivable securitization facility, maturing in 2018 60 — Various capital leases, due through and beyond 2050 34 36 Fair value adjustment to debt 8 6 Total long-term debt 2,163 1,865 Less – current portion 3 163 Long-term debt, net of current portion $ 2,160 $ 1,702 Senior Notes The Company issued $400 million of 2026 senior notes on August 8, 2016 subject to $5 million of discounts and issuance costs. Interest on the notes is payable semiannually in arrears on February 15 and August 15 each year, beginning on February 15, 2017. A portion of the proceeds from these notes were used to redeem $158 million of our 2016 senior notes, together with a $2 million make whole call payment and $3 million of accrued interest. In connection with the redemption, the Company recognized a $1 million loss on extinguishment of debt, inclusive of the remaining unamortized financing fees, discount, and interest rate swap fair value adjustment. The remaining proceeds were used to pay down portions of our Receivables Securitization Facility and for general corporate purposes. 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. A portion of 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 proceeds 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 and $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 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. These senior notes were fully repaid in third quarter of 2016 in connection with the issuance of our 2026 senior notes. 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 certain 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 September 30, 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 was fully amortized in the third quarter of 2016 as a reduction to interest expense in conjunction with the extinguishment of the 2016 senior notes in the same quarter. 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 2022 senior notes. Senior Revolving Credit Facility The Company has an $800 million multi-currency senior revolving credit facility that has been amended from time to time (the "Senior Revolving Credit Facility") with a maturity date in November 2020 and uncommitted incremental loans permitted under the facility of $600 million . The Company obtained commitments for $300 million of the $600 million of permitted incremental term loans in March 2016. As discussed further below, the Company subsequently borrowed $300 million on this commitment in April 2016 and fully repaid the $300 million of borrowings in September 2016. The Company may obtain new commitments for incremental term loans up to $600 million as permitted under the facility. No subsequent amendments had an impact on current liquidity terms. The Company removed certain subsidiaries from the list of named guarantors in May 2016. As of September 30, 2016, the Company added additional subsidiaries to the list of named guarantors. 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 September 30, 2016 . As of September 30, 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 under its existing Senior Revolving Credit Facility. The Term Loan was a partially amortizing loan that required 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 during the third quarter of 2016. On April 20, 2016, the Company borrowed the $300 million available on the Term Loan at LIBOR plus a spread. These borrowings were used, in addition to borrowings on the Receivables Securitization Facility, to fund the acquisition of InterWrap. Please see Note 7 of the Notes to Consolidated Financial Statements for more information on this acquisition. In the third quarter of 2016, the Company repaid all outstanding borrowings on this Term Loan. 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 (the "Receivables 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 September 30, 2016 , the Company utilized the Receivables Securitization Facility for $60 million in borrowings and $2 million of outstanding letters of credit, and had $188 million available on this facility. The Receivables Securitization 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 securitization facility. The Company was in compliance with these covenants as of September 30, 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 September 30, 2016 and December 31, 2015, short-term borrowings were $1 million and $6 million , respectively. The short-term borrowings consisted of various operating lines of credit and working capital facilities. Certain of these borrowings are collateralized by receivables, inventories or property. The borrowing facilities are typically for one -year renewable terms. The weighted average interest rate on all short-term borrowings was approximately 6.1% for September 30, 2016 and 4.5% for December 31, 2015 .

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [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. During the second quarter of 2016, the Company recorded a $6 million pension curtailment gain related to 2015. This benefit was recorded in Cost of sales on the Consolidated Statements of Earnings and reduced General corporate expense and other in our Corporate, Other and Eliminations category. The effect of this error was not material to the current or any previously issued financial statements. The following tables provide information regarding pension expense recognized (in millions): Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ — $ 2 $ 2 $ 1 $ 3 Interest cost 11 4 15 11 3 14 Expected return on plan assets (14 ) (5 ) (19 ) (15 ) (5 ) (20 ) Amortization of actuarial loss 3 — 3 4 1 5 Settlement gain — — — — (1 ) (1 ) Curtailment gain — — — — (1 ) (1 ) Net periodic pension cost $ 2 $ (1 ) $ 1 $ 2 $ (2 ) $ — Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 5 $ 2 $ 7 $ 6 $ 3 $ 9 Interest cost 33 13 46 33 13 46 Expected return on plan assets (43 ) (17 ) (60 ) (44 ) (18 ) (62 ) Amortization of actuarial loss 10 2 12 11 3 14 Curtailment gain — (6 ) (6 ) — (1 ) (1 ) Settlement Gain — — — — (2 ) (2 ) Contractual termination benefit — 2 2 — — — Net periodic pension cost $ 5 $ (4 ) $ 1 $ 6 $ (2 ) $ 4 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 $60 million to the plans during the nine months ended September 30, 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 U.S. and non-U.S. Plans for the periods indicated (in millions): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Components of Net Periodic Benefit Cost Service cost $ — $ 1 $ 1 $ 2 Interest cost 3 3 7 7 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Net periodic benefit cost $ 2 $ 3 $ 5 $ 6

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	9 Months Ended
	Sep. 30, 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. While the likelihood is remote, the disposition of the Proceedings and Environmental Matters 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 September 30, 2016 , the Company was involved with a total of 19 sites worldwide, including 7 Superfund sites and 12 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 September 30, 2016 , the Company had an accrual totaling $2 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	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK COMPENSATION	STOCK COMPENSATION Stock Plans 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 Owens Corning 2013 Stock Plan (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. At September 30, 2016 , the number of shares remaining available under the 2016 Stock Plan for all stock awards was 3.9 million . Stock Options The Company did not grant any stock options during the nine months ended September 30, 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 and nine months ended September 30, 2016 , the Company recognized expense of less than $1 million and $2 million , respectively, related to the Company's stock options. During the three and nine months ended September 30, 2015 the Company recognized expense of $1 million and $3 million respectively, related to the Company's stock options. As of September 30, 2016 , there was $2 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 1.24 years. The total aggregate intrinsic value of options outstanding as of September 30, 2016 was $29 million . The following table summarizes the Company’s stock option activity: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 1,953,320 $ 31.09 Exercised (660,270 ) 31.08 Forfeited (11,350 ) 38.50 Ending Balance 1,281,700 $ 31.03 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2016 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89-$42.16 1,281,700 4.63 $ 31.03 1,080,725 4.18 $ 29.56 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 and nine months ended September 30, 2016 , the Company recognized expense of $5 million and $14 million related to the Company's restricted stock. During the three and nine months ended September 30, 2015 , the Company recognized expense of $5 million and $13 million , respectively, related to the Company's restricted stock. As of September 30, 2016 , there was $33 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.69 years. The total fair value of shares vested during the nine months ended September 30, 2016 and 2015 was $15 million and $17 million , respectively. The following table summarizes the Company’s restricted stock activity: Nine Months Ended September 30, 2016 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,707,490 $ 35.37 Granted 526,345 45.41 Vested (388,892 ) 37.60 Forfeited (45,134 ) 39.70 Ending Balance 1,799,809 $ 37.66 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 2014 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 nine months ended September 30, 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. The amount of stock distributed will vary from 0% to 300% of PSUs awarded depending on performance versus the internal 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 thereafter 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. The external-based metric performance stock granted in 2016 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 U.S. 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 and nine months ended September 30, 2016 , the Company recognized expense of $2 million and $7 million , respectively, related to PSUs. During the three and nine months ended September 30, 2015 , the Company recognized expense of $2 million and $5 million , respectively, related to the Company's PSUs. As of September 30, 2016 , there was $14 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.87 years. The following table summarizes the Company’s PSU activity: Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 431,400 $ 44.52 Granted 244,250 48.74 Forfeited (14,500 ) 44.49 Ending Balance 661,150 $ 46.08 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 September 30, 2016 , 1.4 million shares remain available for purchase. During the three and nine months ended September 30, 2016 , the Company recognized expense of $1 million and $2 million , respectively, related to the Company's ESPP. During the three and nine months ended September 30, 2015 , the Company recognized expense of less than $1 million , and $1 million respectively, related to the Company's ESPP. As of September 30, 2016 , there was $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Net earnings attributable to Owens Corning $ 112 $ 112 $ 307 $ 221 Weighted-average number of shares outstanding used for basic earnings per share 114.1 117.2 114.9 117.5 Non-vested restricted and performance shares 0.9 0.7 0.8 0.5 Options to purchase common stock 0.4 0.4 0.3 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 115.4 118.3 116.0 118.4 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.98 $ 0.96 $ 2.67 $ 1.88 Diluted $ 0.97 $ 0.95 $ 2.65 $ 1.87 In 2012, the Board approved a share buy-back authorization under which the Company could repurchase up to 10 million shares of the Company’s outstanding common stock (the “ 2012 Repurchase Authorization”). The 2012 Repurchase authorization enabled the Company to repurchase shares through the open market, privately negotiated transactions or other transactions. The actual number of shares repurchased depends on timing, market conditions and other factors and is at the Company’s discretion. The Company repurchased 3.4 million shares of its common stock for $171 million during the nine months ended September 30, 2016 under the 2012 Repurchase authorization. As of September 30, 2016 , 1.2 million shares remain available for repurchase under the 2012 Repurchase authorization. On October 24, 2016, the Board approved a new share buy-back authorization under which the Company is enabled to repurchase up to 10 million shares of the Company’s outstanding common stock (the “2016 Repurchase Authorization”). The 2016 Repurchase Authorization is in addition to the share 2012 Repurchase Authorization, (the 2012 Repurchase Authorization and collectively with the 2016 Repurchase Authorization, the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through open market, privately negotiated, 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. For the three and nine months ended September 30, 2016 , the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested performance shares due to their anti-dilutive effect. For the three months ended September 30, 2015 , the number of shares used in the calculation of diluted earnings per share did not include 0.6 million of options to purchase common stock, due to their anti-dilutive effect. For the nine months ended September 30, 2015 , the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested restricted stock and PSU's, and 0.6 million of options to purchase common stock, due to their anti-dilutive effect.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 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 September 30, 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 $ 7 $ — $ 7 $ — Liabilities: Derivative liabilities $ 5 $ — $ 5 $ — 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: September 30, 2016 December 31, 2015 6.50% senior notes, net of discount, due 2016 — % 103 % 9.00% senior notes, net of discount, due 2019 118 % 116 % 4.20% senior notes, net of discount, due 2022 108 % 99 % 4.20% senior notes, net of discount, due 2024 106 % 100 % 3.40% senior notes, net of discount, due 2026 103 % — % 7.00% senior notes, net of discount, due 2036 128 % 105 % The Company determined that the book value of the remaining long-term debt instruments approximates market value.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Income tax expense $ 65 $ 55 $ 172 $ 112 Effective tax rate 37 % 33 % 36 % 33 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and nine months ended September 30, 2016 is primarily due to an increase in unrecognized tax benefit reserves, U.S. state and local income tax expense, the benefit of lower foreign tax rates and other discrete 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 $12 million . The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and nine months ended September 30, 2015 is primarily attributable to the tax accounting treatment of various locations which are currently in a loss position, reversal of valuation allowances, the benefit of lower foreign tax rates, and other discrete tax adjustments.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Currency Translation Adjustment Beginning balance $ (226 ) $ (176 ) $ (247 ) $ (133 ) Net investment hedge amounts classified into AOCI, net of tax (3 ) 2 (5 ) 5 Gain/(loss) on foreign currency translation 1 (40 ) 24 (86 ) Other comprehensive income/(loss), net of tax (2 ) (38 ) 19 (81 ) Ending balance $ (228 ) $ (214 ) $ (228 ) $ (214 ) Pension and Other Postretirement Adjustment Beginning balance $ (409 ) $ (406 ) $ (419 ) $ (412 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 3 2 3 6 Amounts classified into AOCI, net of tax 1 4 11 6 Other comprehensive income, net of tax 4 6 14 12 Ending balance $ (405 ) $ (400 ) $ (405 ) $ (400 ) Deferred Gain (Loss) on Hedging Beginning balance $ — $ (2 ) $ (4 ) $ (5 ) Amounts reclassified from AOCI to net earnings, net of tax (b) 1 1 5 5 Amounts classified into AOCI, net of tax — (2 ) — (3 ) Other comprehensive income/(loss), net of tax 1 (1 ) 5 2 Ending balance $ 1 $ (3 ) $ 1 $ (3 ) Total AOCI ending balance $ (632 ) $ (617 ) $ (632 ) $ (617 ) (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 are recognized in Cost of sales. See Note 4 for additional information.

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 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, 2016-10, 2016-11 and 2016-12 This standard outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Entities can adopt this standard either through a retrospective or modified-retrospective approach. 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. Entities will adopt this standard through a retrospective approach. January 1, 2019 We are currently assessing the impact this standard will have 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. ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326)" This standard replaces the incurred loss methodology for recognizing credit losses with a current expected credit losses model and applies to all financial assets, including trade receivables. Entities will adopt the standard using a modified-retrospective approach. January 1, 2020 We are currently assessing the impact this standard will have on our Consolidated Financial Statements. ASU 2016-15 "Statement of Cash Flows (Topic 230)" This standard addresses the presentation and classification of eight specific cash flow issues, including debt prepayment and extinguishment costs. Entities will adopt the standard using a retrospective method. January 1, 2018 We do not expect the update to have a material impact on the Company's Consolidated Financial Statements. 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 The 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	9 Months Ended
	Sep. 30, 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. In May 2016, the Company entered into an Acknowledgment and Agreement and Second Amendment to its Credit Agreement which, among other things, removed certain subsidiaries from the list of named guarantors. This amendment had no impact on the composition of the Company’s consolidated group and had no effect on the Consolidated Financial Statements including total stockholders' equity in Guarantor Subsidiaries. The Condensed Consolidating Balance Sheet was revised to present the financial statements of the Guarantor Subsidiaries and Nonguarantor Subsidiaries for December 31, 2015, based on their composition at June 30, 2016. The related increases (decreases) from the revisions are shown in the table below (in millions): Description Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Due from affiliates - current $ — $ (287 ) $ — $ 287 $ — Investment in subsidiaries — (452 ) — 452 — Due from affiliates — — (739 ) 739 — TOTAL ASSETS $ — $ (739 ) $ (739 ) $ 1,478 $ — Due to affiliates - current $ — $ — $ (287 ) $ 287 $ — Due to affiliates — (739 ) — 739 — Total equity — — (452 ) 452 — TOTAL LIABILITIES AND EQUITY $ — $ (739 ) $ (739 ) $ 1,478 $ — During the second quarter of 2016, the Company discovered classification errors in the December 31, 2015 Condensed Consolidating Balance Sheet related to intercompany activity recorded in the Due from and Due to affiliates, Investment in subsidiary and Equity line items between and among the Parent, Guarantor Subsidiaries and Non-Guarantor Subsidiaries. These classifications errors had no effect on the Consolidated Financial Statements. The effect of correcting these classification errors was not material to the 2015 Condensed Consolidating Balance Sheet, and the related amounts presented as of December 31, 2015 have been revised. The related increases (decreases) from the revisions are shown in the table below (in millions): Description Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Due from affiliates - current $ — $ (474 ) $ — $ 474 $ — Investment in subsidiaries (484 ) (569 ) (559 ) 1,612 — TOTAL ASSETS $ (484 ) $ (1,043 ) $ (559 ) $ 2,086 $ — Due to affiliates - current $ (484 ) $ — $ 10 $ 474 $ — Total equity — (1,043 ) (569 ) 1,612 — TOTAL LIABILITIES AND EQUITY $ (484 ) $ (1,043 ) $ (559 ) $ 2,086 $ — The combined impact of the changes to the guarantor list and the classification errors resulted in overstatements of Total assets and Total liabilities and equity of the Parent, Guarantor Subsidiaries and Non-Guarantor subsidiaries in the amounts of $484 million , $1,889 million and $1,354 million , respectively, at March 31, 2016 and $484 million , $1,923 million and $1,439 million , respectively, at December 31, 2014. The combined impact of these changes on the Due from and Due to affiliates, Investment in subsidiaries and Total equity between and among the Parent, Guarantor Subsidiaries and Non-Guarantor Subsidiaries at March 31, 2016 and December 31, 2014 is similar to the impact to these accounts at December 31, 2015 illustrated in the tables above. The effect of correcting the classification errors described above was not material to the March 31, 2016 and December 31, 2014 Condensed Consolidating Balance Sheets. Guarantor and Nonguarantor Financial Statements The Senior Notes and the Senior Revolving Credit Facility are guaranteed, fully, unconditionally and jointly and severally, by certain of Owens Corning’s current and future wholly-owned material domestic subsidiaries that are borrowers or guarantors 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”). Additional domestic subsidiaries were added to the Credit Agreement as Guarantor Subsidiaries as of September 30, 2016. As a result, the Condensed Consolidating Financial Statements presented for previous periods were retrospectively revised based on the guarantor structure that existed as of September 30, 2016. The impact of these revisions was not material to the periods presented. OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,106 $ 545 $ (133 ) $ 1,518 COST OF SALES — 856 421 (133 ) 1,144 Gross margin — 250 124 — 374 OPERATING EXPENSES Marketing and administrative expenses 35 76 30 — 141 Science and technology expenses — 17 3 — 20 Other expenses (income), net (5 ) (6 ) 17 — 6 Total operating expenses 30 87 50 — 167 EARNINGS BEFORE INTEREST AND TAXES (30 ) 163 74 — 207 Interest expense, net 28 — — — 28 Loss (gain) on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (59 ) 163 74 — 178 Income tax expense (35 ) 93 7 — 65 Equity in net earnings of subsidiaries 136 66 — (202 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 136 67 (202 ) 113 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 136 $ 66 $ (202 ) $ 112 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,050 $ 494 $ (97 ) $ 1,447 COST OF SALES (1 ) 829 376 (97 ) 1,107 Gross margin 1 221 118 — 340 OPERATING EXPENSES Marketing and administrative expenses 30 71 29 — 130 Science and technology expenses — 15 3 — 18 Other expenses (income), net (24 ) 6 14 — (4 ) Total operating expenses 6 92 46 — 144 EARNINGS BEFORE INTEREST AND TAXES (5 ) 129 72 — 196 Interest expense, net 25 — 3 — 28 Loss (gain) on extinguishment of debt — — — — — EARNINGS BEFORE TAXES (30 ) 129 69 — 168 Income tax expense (10 ) 51 14 — 55 Equity in net earnings of subsidiaries 132 54 — (186 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 132 55 (186 ) 113 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 132 $ 54 $ (186 ) $ 112 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 3,123 $ 1,539 $ (368 ) $ 4,294 COST OF SALES 2 2,439 1,159 (368 ) 3,232 Gross margin (2 ) 684 380 — 1,062 OPERATING EXPENSES Marketing and administrative expenses 103 233 90 — 426 Science and technology expenses — 50 10 — 60 Other expenses (income), net (8 ) 31 (10 ) — 13 Total operating expenses 95 314 90 — 499 EARNINGS BEFORE INTEREST AND TAXES (97 ) 370 290 — 563 Interest expense, net 74 (1 ) 7 — 80 Loss (gain) on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (172 ) 371 283 — 482 Income tax expense (85 ) 188 69 — 172 Equity in net earnings of subsidiaries 394 211 — (605 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 307 394 215 (605 ) 311 Net earnings attributable to noncontrolling interests — — 4 — 4 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 307 $ 394 $ 211 $ (605 ) $ 307 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,909 $ 1,430 $ (286 ) $ 4,053 COST OF SALES — 2,366 1,116 (286 ) 3,196 Gross margin — 543 314 — 857 OPERATING EXPENSES Marketing and administrative expenses 92 212 85 — 389 Science and technology expenses — 44 9 — 53 Other expenses (income), net (41 ) 24 22 — 5 Total operating expenses 51 280 116 — 447 EARNINGS BEFORE INTEREST AND TAXES (51 ) 263 198 — 410 Interest expense, net 73 2 5 — 80 Loss (gain) on extinguishment of debt (5 ) — — — (5 ) EARNINGS BEFORE TAXES (119 ) 261 193 — 335 Income tax expense (39 ) 97 54 — 112 Equity in net earnings of subsidiaries 301 137 — (438 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 221 301 140 (438 ) 224 Net earnings attributable to noncontrolling interests — — 3 — 3 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 221 $ 301 $ 137 $ (438 ) $ 221 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 136 $ 67 $ (202 ) $ 113 Currency translation adjustment (net of tax) (2 ) — 2 (2 ) (2 ) Pension and other postretirement adjustment (net of tax) 4 (1 ) 3 (2 ) 4 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 115 135 72 (206 ) 116 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 115 $ 135 $ 71 $ (206 ) $ 115 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 132 $ 55 $ (186 ) $ 113 Currency translation adjustment (net of tax) (38 ) (1 ) (40 ) 41 (38 ) Pension and other postretirement adjustment (net of tax) 6 (1 ) 6 (5 ) 6 Deferred gain on hedging (net of tax) (1 ) — (1 ) 1 (1 ) COMPREHENSIVE EARNINGS 79 130 20 (149 ) 80 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 79 $ 130 $ 19 $ (149 ) $ 79 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 307 $ 394 $ 215 $ (605 ) $ 311 Currency translation adjustment (net of tax) 19 (3 ) 28 (25 ) 19 Pension and other postretirement adjustment (net of tax) 14 22 4 (26 ) 14 Deferred gain on hedging (net of tax) 5 1 1 (2 ) 5 COMPREHENSIVE EARNINGS 345 414 248 (658 ) 349 Comprehensive earnings attributable to noncontrolling interests — — 4 — 4 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 345 $ 414 $ 244 $ (658 ) $ 345 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 221 $ 301 $ 140 $ (438 ) $ 224 Currency translation adjustment (net of tax) (81 ) (1 ) (86 ) 87 (81 ) Pension and other postretirement adjustment (net of tax) 12 (3 ) 8 (5 ) 12 Deferred gain on hedging (net of tax) 2 4 — (4 ) 2 COMPREHENSIVE EARNINGS 154 301 62 (360 ) 157 Comprehensive earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 154 $ 301 $ 59 $ (360 ) $ 154 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2016 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ 35 $ 2 $ 73 $ — $ 110 Receivables, less allowances — — 796 — 796 Due from affiliates — 2,530 — (2,530 ) — Inventories — 425 304 — 729 Assets held for sale — 3 10 — 13 Other current assets 11 21 22 — 54 Total current assets 46 2,981 1,205 (2,530 ) 1,702 Investment in subsidiaries 7,666 1,744 — (9,410 ) — Due from affiliates — — — — — Property, plant and equipment, net 467 1,533 1,090 — 3,090 Goodwill — 1,159 179 — 1,338 Intangible assets, net — 1,043 223 (120 ) 1,146 Deferred income taxes (23 ) 341 51 — 369 Other non-current assets 13 68 150 — 231 TOTAL ASSETS $ 8,169 $ 8,869 $ 2,898 $ (12,060 ) $ 7,876 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 83 $ 776 $ 140 $ — $ 999 Due to affiliates 1,849 — 681 (2,530 ) — Short-term debt — — 1 — 1 Long-term debt – current portion — 2 1 — 3 Total current liabilities 1,932 778 823 (2,530 ) 1,003 Long-term debt, net of current portion 2,069 12 79 — 2,160 Due to affiliates — — — — — Pension plan liability 230 — 91 — 321 Other employee benefits liability — 223 14 — 237 Deferred income taxes — — 36 — 36 Other liabilities 45 190 67 (120 ) 182 Redeemable equity — — 2 — 2 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,893 7,666 1,744 (9,410 ) 3,893 Noncontrolling interests — — 42 — 42 Total equity 3,893 7,666 1,786 (9,410 ) 3,935 TOTAL LIABILITIES AND EQUITY $ 8,169 $ 8,869 $ 2,898 $ (12,060 ) $ 7,876 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 48 $ 48 $ — $ 96 Receivables, less allowances — — 709 — 709 Due from affiliates — 2,382 — (2,382 ) — Inventories — 392 252 — 644 Assets held for sale — — 12 — 12 Other current assets 11 21 15 — 47 Total current assets 11 2,843 1,036 (2,382 ) 1,508 Investment in subsidiaries 7,220 1,423 — (8,643 ) — Due from affiliates — — — — — Property, plant and equipment, net 463 1,451 1,042 — 2,956 Goodwill — 1,149 18 — 1,167 Intangible assets, net — 986 144 (131 ) 999 Deferred income taxes — 430 62 — 492 Other non-current assets 25 61 136 — 222 TOTAL ASSETS $ 7,719 $ 8,343 $ 2,438 $ (11,156 ) $ 7,344 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 56 $ 703 $ 153 $ — $ 912 Due to affiliates 1,760 — 622 (2,382 ) — Short-term debt — — 6 — 6 Long-term debt – current portion 160 2 1 — 163 Total current liabilities 1,976 705 782 (2,382 ) 1,081 Long-term debt, net of current portion 1,668 14 20 — 1,702 Due to affiliates — — — — — Pension plan liability 286 — 111 — 397 Other employee benefits liability — 227 13 — 240 Deferred income taxes — — 8 — 8 Other liabilities 50 177 41 (131 ) 137 Redeemable equity — — — — — OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,739 7,220 1,423 (8,643 ) 3,739 Noncontrolling interests — — 40 — 40 Total equity 3,739 7,220 1,463 (8,643 ) 3,779 TOTAL LIABILITIES AND EQUITY $ 7,719 $ 8,343 $ 2,438 $ (11,156 ) $ 7,344 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (67 ) $ 621 $ 136 $ (11 ) $ 679 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (11 ) (216 ) (54 ) — (281 ) Proceeds from the sale of assets or affiliates — — — — — Investment in subsidiaries and affiliates, net of cash acquired — — (450 ) — (450 ) Purchases of alloy — — — — — Proceeds from sale of alloy — — — — — Other 2 — — — 2 Net cash flow used for investing activities (9 ) (216 ) (504 ) — (729 ) NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES Proceeds from long-term debt 395 — — — 395 Proceeds from senior revolving credit and receivables securitization facilities — — 574 — 574 Proceeds from term loan borrowing 300 — — — 300 Payments on term loan borrowing (300 ) — — — (300 ) Payments on senior revolving credit and receivables securitization facilities — — (514 ) — (514 ) Payments on long-term debt (160 ) — — — (160 ) Net decrease in short-term debt — — (5 ) — (5 ) Cash dividends paid (61 ) — — — (61 ) Purchases of treasury stock (176 ) — — — (176 ) Intercompany dividends paid — — (11 ) 11 — Other intercompany loans 103 (451 ) 348 — — Other 10 — — — 10 Net cash flow provided by (used for) financing activities 111 (451 ) 392 11 63 Effect of exchange rate changes on cash — — 1 — 1 Net increase (decrease) in cash and cash equivalents 35 (46 ) 25 — 14 Cash and cash equivalents at beginning of period — 48 48 — 96 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 35 $ 2 $ 73 $ — $ 110 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (54 ) $ 248 $ 216 $ — $ 410 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (10 ) (203 ) (53 ) — (266 ) Proceeds from the sale of assets or affiliates — — 3 — 3 Investment in subsidiaries and affiliates, net of cash acquired — — — — — Purchases of alloy — — (8 ) — (8 ) Proceeds from sale of alloy — — 8 — 8 Other — — — — — Net cash flow used for investing activities (10 ) (203 ) (50 ) — (263 ) NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES Proceeds from long-term debt — — — — — Proceeds from senior revolving credit and receivables securitization facilities 943 — 136 — 1,079 Proceeds from term loan borrowing — — — — — Payments on term loan borrowing — — — — — Payments on senior revolving credit and receivables securitization facilities (942 ) — (140 ) — (1,082 ) Payments on long-term debt (5 ) (1 ) (2 ) — (8 ) Net decrease in short-term debt — (13 ) 3 — (10 ) Cash dividends paid (58 ) — — — (58 ) Purchase of treasury stock (86 ) — — — (86 ) Intercompany dividends paid — — — — — Other intercompany loans 194 (30 ) (164 ) — — Other 18 — — — 18 Net cash flow provided by (used for) financing activities 64 (44 ) (167 ) — (147 ) Effect of exchange rate changes on cash — — (5 ) — (5 ) Net increase (decrease) in cash and cash equivalents — 1 (6 ) — (5 ) Cash and cash equivalents at beginning of period — 1 66 — 67 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 2 $ 60 $ — $ 62

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Reportable Segments Composites $ 496 $ 486 $ 1,486 $ 1,457 Insulation 476 502 1,275 1,332 Roofing 603 502 1,711 1,398 Total reportable segments 1,575 1,490 4,472 4,187 Corporate eliminations (57 ) (43 ) (178 ) (134 ) NET SALES $ 1,518 $ 1,447 $ 4,294 $ 4,053
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 1,068 $ 1,020 $ 3,010 $ 2,810 Europe 136 128 422 393 Asia Pacific 174 178 493 492 Other 140 121 369 358 NET SALES $ 1,518 $ 1,447 $ 4,294 $ 4,053
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Reportable Segments Composites $ 61 $ 61 $ 199 $ 188 Insulation 38 58 83 90 Roofing 146 103 388 213 Total reportable segments 245 222 670 491 Restructuring costs (5 ) (2 ) (8 ) (4 ) Acquisition-related costs for InterWrap and Ahlstrom transactions (4 ) — (8 ) — Recognition of InterWrap inventory fair value step-up (2 ) — (10 ) — General corporate expense and other (27 ) (24 ) (81 ) (77 ) EBIT $ 207 $ 196 $ 563 $ 410

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): September 30, 2016 December 31, 2015 Finished goods $ 495 $ 436 Materials and supplies 234 208 Total inventories $ 729 $ 644

DERIVATIVE FINANCIAL INSTRUME30

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 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 $ 5 $ 14 Fair value hedges Interest rate swaps Other non-current assets $ — $ 4 Cash flow hedges: Natural gas forward swaps Other current assets $ 2 $ — Amount of gain recognized in OCI (effective portion) OCI $ 1 $ — Derivative liabilities designated as hedging instruments: Net investment hedges Cross currency swaps Other liabilities $ 4 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ — $ 5 Amount of loss recognized in OCI related to natural gas forward swaps (effective portion) OCI $ — $ 5 Amount of loss recognized in OCI related to foreign exchange contracts (effective portion) OCI $ — $ 1 Amount of loss recognized in OCI related to treasury interest rate lock 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 Foreign exchange contracts Accounts payable and accrued liabilities $ 1 $ —
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 Nine Months Ended Location 2016 2015 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 $ 1 $ 2 $ 7 $ 8 Foreign Currency Amount of loss reclassified from OCI into earnings (effective portion) Other expenses (income), net $ — $ — $ 1 $ — Interest rate swaps: Amount of loss recognized in earnings Interest expense, net $ — $ — $ 1 $ — Derivative activity not designated as hedging instruments: Natural gas and electricity: Amount of (gain) recognized in earnings Other expenses (income), net $ (1 ) $ — $ (1 ) $ (1 ) Foreign currency exchange contract: Amount of (gain)/loss recognized in earnings (a) Other expenses (income), net $ (1 ) $ (3 ) $ 5 $ (3 ) (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 (income), 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 September 30, 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 (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Intangible assets and goodwill consist of the following (in millions): September 30, 2016 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 22 $ 253 $ (91 ) $ 162 Technology 19 216 (100 ) 116 Franchise and other agreements 9 46 (23 ) 23 Indefinite-lived intangible assets: Trademarks 845 — 845 Total intangible assets $ 1,360 $ (214 ) $ 1,146 Goodwill $ 1,338 December 31, 2015 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 18 $ 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
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 Acquisitions (see Note 7) 81 23 — 59 163 Additional Franchises and Agreements — — 3 — 3 Balance at September 30, 2016 $ 253 $ 216 $ 46 $ 845 $ 1,360
Schedule of Goodwill	The changes in the net carrying amount of goodwill by segment are as follows (in millions): Composites Insulation Roofing Total Balance at December 31, 2015 $ 56 $ 888 $ 223 $ 1,167 Acquisitions (see Note 7) — — 171 171 Balance at September 30, 2016 $ 56 $ 888 $ 394 $ 1,338

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): September 30, December 31, 2015 Land $ 192 $ 186 Buildings and leasehold improvements 872 788 Machinery and equipment 3,739 3,478 Construction in progress 265 359 5,068 4,811 Accumulated depreciation (1,978 ) (1,855 ) Property, plant and equipment, net $ 3,090 $ 2,956

WARRANTIES (Tables)

WARRANTIES (Tables)	9 Months Ended
	Sep. 30, 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): Nine Months Ended September 30, 2016 Beginning balance $ 43 Amounts accrued for current year 17 Settlements of warranty claims (10 ) Ending balance $ 50

COST REDUCTION ACTIONS (Tables)

COST REDUCTION ACTIONS (Tables) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Settled without Cash	$ (4)
Balance at December 31, 2015	$ 4	$ 7
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Acquisition-Related Costs During the first nine months of 2016, the Company incurred $8 million of transaction and integration costs related to its announced acquisitions, including a $3 million termination fee paid in the third quarter of 2016 to terminate the Ahlstrom purchase agreement. Please refer to Note 7 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded in the Corporate, Other and Eliminations category. See Restructuring Costs section below for detail on additional costs related to the InterWrap acquisition. The following table presents the impact and respective location of acquisition-related costs for the first nine months of 2016 on the Consolidated Statements of Earnings (in millions): Location Ahlstrom Acquisition InterWrap Acquisition Total Marketing and administrative expenses $ 1 $ 4 $ 5 Other expenses (income), net 3 — 3 Total acquisition-related costs $ 4 $ 4 $ 8
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. In the first nine months of 2016, the Company incurred $6 million of charges for this restructuring, comprised of facility optimization costs, revision of estimated severance costs and a pension-related charge. InterWrap Acquisition-Related Restructuring Costs Following the acquisition of InterWrap into the Company's Roofing segment, the Company took actions to realize expected synergies from the newly acquired operations. In the first nine months of 2016, the Company incurred $2 million of accelerated depreciation charges for this restructuring. The following table summarizes the status of the unpaid liabilities from the Company's restructuring activity (in millions): InterWrap Acquisition-Related Restructuring 2014 Cost Reduction Actions Total Balance at December 31, 2015 $ — $ 7 $ 7 Restructuring costs 2 6 8 Payments — (7 ) (7 ) Non-cash items and reclassifications to other accounts (2 ) (2 ) (4 ) Balance at September 30, 2016 $ — $ 4 $ 4 Cumulative charges incurred $ 2 $ 44 $ 46 The Company expects the unpaid balance of these restructuring costs to be paid over the next year. As of September 30, 2016 , the remaining liability balance is comprised of $3 million of severance and $1 million of contract termination.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Details of the Company’s outstanding long-term debt are as follows (in millions): September 30, 2016 December 31, 2015 6.50% senior notes, net of discount and financing fees, due 2016 $ — $ 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 391 390 3.40% senior notes, net of discount and financing fees, due 2026 395 — 7.00% senior notes, net of discount and financing fees, due 2036 536 536 Accounts receivable securitization facility, maturing in 2018 60 — Various capital leases, due through and beyond 2050 34 36 Fair value adjustment to debt 8 6 Total long-term debt 2,163 1,865 Less – current portion 3 163 Long-term debt, net of current portion $ 2,160 $ 1,702

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 Three Months Ended September 30, 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ — $ 2 $ 2 $ 1 $ 3 Interest cost 11 4 15 11 3 14 Expected return on plan assets (14 ) (5 ) (19 ) (15 ) (5 ) (20 ) Amortization of actuarial loss 3 — 3 4 1 5 Settlement gain — — — — (1 ) (1 ) Curtailment gain — — — — (1 ) (1 ) Net periodic pension cost $ 2 $ (1 ) $ 1 $ 2 $ (2 ) $ — Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 5 $ 2 $ 7 $ 6 $ 3 $ 9 Interest cost 33 13 46 33 13 46 Expected return on plan assets (43 ) (17 ) (60 ) (44 ) (18 ) (62 ) Amortization of actuarial loss 10 2 12 11 3 14 Curtailment gain — (6 ) (6 ) — (1 ) (1 ) Settlement Gain — — — — (2 ) (2 ) Contractual termination benefit — 2 2 — — — Net periodic pension cost $ 5 $ (4 ) $ 1 $ 6 $ (2 ) $ 4
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 U.S. and non-U.S. Plans for the periods indicated (in millions): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Components of Net Periodic Benefit Cost Service cost $ — $ 1 $ 1 $ 2 Interest cost 3 3 7 7 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Net periodic benefit cost $ 2 $ 3 $ 5 $ 6

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 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: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 1,953,320 $ 31.09 Exercised (660,270 ) 31.08 Forfeited (11,350 ) 38.50 Ending Balance 1,281,700 $ 31.03
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 September 30, 2016 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89-$42.16 1,281,700 4.63 $ 31.03 1,080,725 4.18 $ 29.56
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Nine Months Ended September 30, 2016 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,707,490 $ 35.37 Granted 526,345 45.41 Vested (388,892 ) 37.60 Forfeited (45,134 ) 39.70 Ending Balance 1,799,809 $ 37.66
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest	Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 431,400 $ 44.52 Granted 244,250 48.74 Forfeited (14,500 ) 44.49 Ending Balance 661,150 $ 46.08

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Net earnings attributable to Owens Corning $ 112 $ 112 $ 307 $ 221 Weighted-average number of shares outstanding used for basic earnings per share 114.1 117.2 114.9 117.5 Non-vested restricted and performance shares 0.9 0.7 0.8 0.5 Options to purchase common stock 0.4 0.4 0.3 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 115.4 118.3 116.0 118.4 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.98 $ 0.96 $ 2.67 $ 1.88 Diluted $ 0.97 $ 0.95 $ 2.65 $ 1.87

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 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: September 30, 2016 December 31, 2015 6.50% senior notes, net of discount, due 2016 — % 103 % 9.00% senior notes, net of discount, due 2019 118 % 116 % 4.20% senior notes, net of discount, due 2022 108 % 99 % 4.20% senior notes, net of discount, due 2024 106 % 100 % 3.40% senior notes, net of discount, due 2026 103 % — % 7.00% senior notes, net of discount, due 2036 128 % 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 September 30, 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 $ 7 $ — $ 7 $ — Liabilities: Derivative liabilities $ 5 $ — $ 5 $ — 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 $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Income tax expense $ 65 $ 55 $ 172 $ 112 Effective tax rate 37 % 33 % 36 % 33 %

CHANGES IN ACCUMULATED OTHER 41

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Currency Translation Adjustment Beginning balance $ (226 ) $ (176 ) $ (247 ) $ (133 ) Net investment hedge amounts classified into AOCI, net of tax (3 ) 2 (5 ) 5 Gain/(loss) on foreign currency translation 1 (40 ) 24 (86 ) Other comprehensive income/(loss), net of tax (2 ) (38 ) 19 (81 ) Ending balance $ (228 ) $ (214 ) $ (228 ) $ (214 ) Pension and Other Postretirement Adjustment Beginning balance $ (409 ) $ (406 ) $ (419 ) $ (412 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 3 2 3 6 Amounts classified into AOCI, net of tax 1 4 11 6 Other comprehensive income, net of tax 4 6 14 12 Ending balance $ (405 ) $ (400 ) $ (405 ) $ (400 ) Deferred Gain (Loss) on Hedging Beginning balance $ — $ (2 ) $ (4 ) $ (5 ) Amounts reclassified from AOCI to net earnings, net of tax (b) 1 1 5 5 Amounts classified into AOCI, net of tax — (2 ) — (3 ) Other comprehensive income/(loss), net of tax 1 (1 ) 5 2 Ending balance $ 1 $ (3 ) $ 1 $ (3 ) Total AOCI ending balance $ (632 ) $ (617 ) $ (632 ) $ (617 ) (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 are recognized in Cost of sales. See Note 4 for additional information.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of Related Increases (Decreases) from Previous Revisions to Condensed Consolidating Balance Sheet	The related increases (decreases) from the revisions are shown in the table below (in millions): Description Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Due from affiliates - current $ — $ (474 ) $ — $ 474 $ — Investment in subsidiaries (484 ) (569 ) (559 ) 1,612 — TOTAL ASSETS $ (484 ) $ (1,043 ) $ (559 ) $ 2,086 $ — Due to affiliates - current $ (484 ) $ — $ 10 $ 474 $ — Total equity — (1,043 ) (569 ) 1,612 — TOTAL LIABILITIES AND EQUITY $ (484 ) $ (1,043 ) $ (559 ) $ 2,086 $ — The related increases (decreases) from the revisions are shown in the table below (in millions): Description Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Due from affiliates - current $ — $ (287 ) $ — $ 287 $ — Investment in subsidiaries — (452 ) — 452 — Due from affiliates — — (739 ) 739 — TOTAL ASSETS $ — $ (739 ) $ (739 ) $ 1,478 $ — Due to affiliates - current $ — $ — $ (287 ) $ 287 $ — Due to affiliates — (739 ) — 739 — Total equity — — (452 ) 452 — TOTAL LIABILITIES AND EQUITY $ — $ (739 ) $ (739 ) $ 1,478 $ —
Condensed Consolidating Statement of Earnings	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,106 $ 545 $ (133 ) $ 1,518 COST OF SALES — 856 421 (133 ) 1,144 Gross margin — 250 124 — 374 OPERATING EXPENSES Marketing and administrative expenses 35 76 30 — 141 Science and technology expenses — 17 3 — 20 Other expenses (income), net (5 ) (6 ) 17 — 6 Total operating expenses 30 87 50 — 167 EARNINGS BEFORE INTEREST AND TAXES (30 ) 163 74 — 207 Interest expense, net 28 — — — 28 Loss (gain) on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (59 ) 163 74 — 178 Income tax expense (35 ) 93 7 — 65 Equity in net earnings of subsidiaries 136 66 — (202 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 136 67 (202 ) 113 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 136 $ 66 $ (202 ) $ 112 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,050 $ 494 $ (97 ) $ 1,447 COST OF SALES (1 ) 829 376 (97 ) 1,107 Gross margin 1 221 118 — 340 OPERATING EXPENSES Marketing and administrative expenses 30 71 29 — 130 Science and technology expenses — 15 3 — 18 Other expenses (income), net (24 ) 6 14 — (4 ) Total operating expenses 6 92 46 — 144 EARNINGS BEFORE INTEREST AND TAXES (5 ) 129 72 — 196 Interest expense, net 25 — 3 — 28 Loss (gain) on extinguishment of debt — — — — — EARNINGS BEFORE TAXES (30 ) 129 69 — 168 Income tax expense (10 ) 51 14 — 55 Equity in net earnings of subsidiaries 132 54 — (186 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 132 55 (186 ) 113 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 132 $ 54 $ (186 ) $ 112 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 3,123 $ 1,539 $ (368 ) $ 4,294 COST OF SALES 2 2,439 1,159 (368 ) 3,232 Gross margin (2 ) 684 380 — 1,062 OPERATING EXPENSES Marketing and administrative expenses 103 233 90 — 426 Science and technology expenses — 50 10 — 60 Other expenses (income), net (8 ) 31 (10 ) — 13 Total operating expenses 95 314 90 — 499 EARNINGS BEFORE INTEREST AND TAXES (97 ) 370 290 — 563 Interest expense, net 74 (1 ) 7 — 80 Loss (gain) on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (172 ) 371 283 — 482 Income tax expense (85 ) 188 69 — 172 Equity in net earnings of subsidiaries 394 211 — (605 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 307 394 215 (605 ) 311 Net earnings attributable to noncontrolling interests — — 4 — 4 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 307 $ 394 $ 211 $ (605 ) $ 307	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,909 $ 1,430 $ (286 ) $ 4,053 COST OF SALES — 2,366 1,116 (286 ) 3,196 Gross margin — 543 314 — 857 OPERATING EXPENSES Marketing and administrative expenses 92 212 85 — 389 Science and technology expenses — 44 9 — 53 Other expenses (income), net (41 ) 24 22 — 5 Total operating expenses 51 280 116 — 447 EARNINGS BEFORE INTEREST AND TAXES (51 ) 263 198 — 410 Interest expense, net 73 2 5 — 80 Loss (gain) on extinguishment of debt (5 ) — — — (5 ) EARNINGS BEFORE TAXES (119 ) 261 193 — 335 Income tax expense (39 ) 97 54 — 112 Equity in net earnings of subsidiaries 301 137 — (438 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 221 301 140 (438 ) 224 Net earnings attributable to noncontrolling interests — — 3 — 3 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 221 $ 301 $ 137 $ (438 ) $ 221
Condensed Consolidating Statement Of Comprehensive Earnings [Table Text Block]	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 221 $ 301 $ 140 $ (438 ) $ 224 Currency translation adjustment (net of tax) (81 ) (1 ) (86 ) 87 (81 ) Pension and other postretirement adjustment (net of tax) 12 (3 ) 8 (5 ) 12 Deferred gain on hedging (net of tax) 2 4 — (4 ) 2 COMPREHENSIVE EARNINGS 154 301 62 (360 ) 157 Comprehensive earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 154 $ 301 $ 59 $ (360 ) $ 154 WENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 307 $ 394 $ 215 $ (605 ) $ 311 Currency translation adjustment (net of tax) 19 (3 ) 28 (25 ) 19 Pension and other postretirement adjustment (net of tax) 14 22 4 (26 ) 14 Deferred gain on hedging (net of tax) 5 1 1 (2 ) 5 COMPREHENSIVE EARNINGS 345 414 248 (658 ) 349 Comprehensive earnings attributable to noncontrolling interests — — 4 — 4 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 345 $ 414 $ 244 $ (658 ) $ 345 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 136 $ 67 $ (202 ) $ 113 Currency translation adjustment (net of tax) (2 ) — 2 (2 ) (2 ) Pension and other postretirement adjustment (net of tax) 4 (1 ) 3 (2 ) 4 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 115 135 72 (206 ) 116 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 115 $ 135 $ 71 $ (206 ) $ 115	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 132 $ 55 $ (186 ) $ 113 Currency translation adjustment (net of tax) (38 ) (1 ) (40 ) 41 (38 ) Pension and other postretirement adjustment (net of tax) 6 (1 ) 6 (5 ) 6 Deferred gain on hedging (net of tax) (1 ) — (1 ) 1 (1 ) COMPREHENSIVE EARNINGS 79 130 20 (149 ) 80 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 79 $ 130 $ 19 $ (149 ) $ 79
Condensed Consolidating Balance Sheet	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2016 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ 35 $ 2 $ 73 $ — $ 110 Receivables, less allowances — — 796 — 796 Due from affiliates — 2,530 — (2,530 ) — Inventories — 425 304 — 729 Assets held for sale — 3 10 — 13 Other current assets 11 21 22 — 54 Total current assets 46 2,981 1,205 (2,530 ) 1,702 Investment in subsidiaries 7,666 1,744 — (9,410 ) — Due from affiliates — — — — — Property, plant and equipment, net 467 1,533 1,090 — 3,090 Goodwill — 1,159 179 — 1,338 Intangible assets, net — 1,043 223 (120 ) 1,146 Deferred income taxes (23 ) 341 51 — 369 Other non-current assets 13 68 150 — 231 TOTAL ASSETS $ 8,169 $ 8,869 $ 2,898 $ (12,060 ) $ 7,876 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 83 $ 776 $ 140 $ — $ 999 Due to affiliates 1,849 — 681 (2,530 ) — Short-term debt — — 1 — 1 Long-term debt – current portion — 2 1 — 3 Total current liabilities 1,932 778 823 (2,530 ) 1,003 Long-term debt, net of current portion 2,069 12 79 — 2,160 Due to affiliates — — — — — Pension plan liability 230 — 91 — 321 Other employee benefits liability — 223 14 — 237 Deferred income taxes — — 36 — 36 Other liabilities 45 190 67 (120 ) 182 Redeemable equity — — 2 — 2 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,893 7,666 1,744 (9,410 ) 3,893 Noncontrolling interests — — 42 — 42 Total equity 3,893 7,666 1,786 (9,410 ) 3,935 TOTAL LIABILITIES AND EQUITY $ 8,169 $ 8,869 $ 2,898 $ (12,060 ) $ 7,876	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 48 $ 48 $ — $ 96 Receivables, less allowances — — 709 — 709 Due from affiliates — 2,382 — (2,382 ) — Inventories — 392 252 — 644 Assets held for sale — — 12 — 12 Other current assets 11 21 15 — 47 Total current assets 11 2,843 1,036 (2,382 ) 1,508 Investment in subsidiaries 7,220 1,423 — (8,643 ) — Due from affiliates — — — — — Property, plant and equipment, net 463 1,451 1,042 — 2,956 Goodwill — 1,149 18 — 1,167 Intangible assets, net — 986 144 (131 ) 999 Deferred income taxes — 430 62 — 492 Other non-current assets 25 61 136 — 222 TOTAL ASSETS $ 7,719 $ 8,343 $ 2,438 $ (11,156 ) $ 7,344 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 56 $ 703 $ 153 $ — $ 912 Due to affiliates 1,760 — 622 (2,382 ) — Short-term debt — — 6 — 6 Long-term debt – current portion 160 2 1 — 163 Total current liabilities 1,976 705 782 (2,382 ) 1,081 Long-term debt, net of current portion 1,668 14 20 — 1,702 Due to affiliates — — — — — Pension plan liability 286 — 111 — 397 Other employee benefits liability — 227 13 — 240 Deferred income taxes — — 8 — 8 Other liabilities 50 177 41 (131 ) 137 Redeemable equity — — — — — OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,739 7,220 1,423 (8,643 ) 3,739 Noncontrolling interests — — 40 — 40 Total equity 3,739 7,220 1,463 (8,643 ) 3,779 TOTAL LIABILITIES AND EQUITY $ 7,719 $ 8,343 $ 2,438 $ (11,156 ) $ 7,344
Condensed Consolidating Statement of Cash Flows	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (67 ) $ 621 $ 136 $ (11 ) $ 679 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (11 ) (216 ) (54 ) — (281 ) Proceeds from the sale of assets or affiliates — — — — — Investment in subsidiaries and affiliates, net of cash acquired — — (450 ) — (450 ) Purchases of alloy — — — — — Proceeds from sale of alloy — — — — — Other 2 — — — 2 Net cash flow used for investing activities (9 ) (216 ) (504 ) — (729 ) NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES Proceeds from long-term debt 395 — — — 395 Proceeds from senior revolving credit and receivables securitization facilities — — 574 — 574 Proceeds from term loan borrowing 300 — — — 300 Payments on term loan borrowing (300 ) — — — (300 ) Payments on senior revolving credit and receivables securitization facilities — — (514 ) — (514 ) Payments on long-term debt (160 ) — — — (160 ) Net decrease in short-term debt — — (5 ) — (5 ) Cash dividends paid (61 ) — — — (61 ) Purchases of treasury stock (176 ) — — — (176 ) Intercompany dividends paid — — (11 ) 11 — Other intercompany loans 103 (451 ) 348 — — Other 10 — — — 10 Net cash flow provided by (used for) financing activities 111 (451 ) 392 11 63 Effect of exchange rate changes on cash — — 1 — 1 Net increase (decrease) in cash and cash equivalents 35 (46 ) 25 — 14 Cash and cash equivalents at beginning of period — 48 48 — 96 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 35 $ 2 $ 73 $ — $ 110	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (54 ) $ 248 $ 216 $ — $ 410 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (10 ) (203 ) (53 ) — (266 ) Proceeds from the sale of assets or affiliates — — 3 — 3 Investment in subsidiaries and affiliates, net of cash acquired — — — — — Purchases of alloy — — (8 ) — (8 ) Proceeds from sale of alloy — — 8 — 8 Other — — — — — Net cash flow used for investing activities (10 ) (203 ) (50 ) — (263 ) NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES Proceeds from long-term debt — — — — — Proceeds from senior revolving credit and receivables securitization facilities 943 — 136 — 1,079 Proceeds from term loan borrowing — — — — — Payments on term loan borrowing — — — — — Payments on senior revolving credit and receivables securitization facilities (942 ) — (140 ) — (1,082 ) Payments on long-term debt (5 ) (1 ) (2 ) — (8 ) Net decrease in short-term debt — (13 ) 3 — (10 ) Cash dividends paid (58 ) — — — (58 ) Purchase of treasury stock (86 ) — — — (86 ) Intercompany dividends paid — — — — — Other intercompany loans 194 (30 ) (164 ) — — Other 18 — — — 18 Net cash flow provided by (used for) financing activities 64 (44 ) (167 ) — (147 ) Effect of exchange rate changes on cash — — (5 ) — (5 ) Net increase (decrease) in cash and cash equivalents — 1 (6 ) — (5 ) Cash and cash equivalents at beginning of period — 1 66 — 67 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 2 $ 60 $ — $ 62

GENERAL (Details)

GENERAL (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Cash Flow	$ 26
Other Current Assets [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Balance Sheet		$ 30	$ 34
Other Noncurrent Assets [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Balance Sheet		6	7
Accounts Payable and Accrued Liabilities [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Restatement of Prior Year Balance Sheet		$ 36	$ 41

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	$ 1,518	$ 1,447	$ 4,294	$ 4,053
Income (loss) from Reportable Segments	245	222	670	491
Restructuring Charges and Related Items			(8)	(4)
General corporate expense and other	27	24	81	(77)
EBIT	207	196	$ 563	410
Number of Reportable Segments | segment			3
Restructuring Costs [Domain]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	5	2
Acquisition Costs [Domain]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items	4	0
Corrected Amount [Domain]
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues		14		29
United States
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,068	1,020	$ 3,010	2,810
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	136	128	422	393
Asia Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	174	178	493	492
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	140	121	369	358
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	496	486	1,486	1,457
Income (loss) from Reportable Segments	61	61	199	188
Building Materials
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	603	502	1,711	1,398
Income (loss) from Reportable Segments	146	103	388	213
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,575	1,490	4,472	4,187
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	(57)	(43)	(178)	(134)
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	476	502	1,275	1,332
EBIT	38	58	83	90
European Stone [Member]
Segment Reporting, Significant Reconciling Item [Line Items]
Restructuring Charges and Related Items			(8)	$ 0
InterWrap
Segment Reporting, Significant Reconciling Item [Line Items]
Recognition of InterWrap inventory fair value step-up	$ 2	$ 0	$ (10)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 495	$ 436
Materials and supplies	234	208
Total inventories	$ 729	$ 644

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Derivatives, Fair Value [Line Items]
Debt instrument, term		1 year
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months		$ 1,000,000
Two Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Exposure Time		2 months
Four Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	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		$ 8,000,000
Electricity and Foreign Exchange Contracts [Member] | Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Electricity and Foreign Exchange Contracts [Member] | Beyond Twelve Months [Domain]
Derivatives, Fair Value [Line Items]
Percent of exposures hedged	0	0
Foreign Exchange Forward [Member] | United States
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 98,000,000	$ 98,000,000
Foreign Exchange Forward [Member] | Europe
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	38,000,000	38,000,000
Cash Flow Hedging | United States
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	7,000,000	7,000,000
Cash Flow Hedging | Europe
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	1,000,000	1,000,000
Cash Flow Hedging | Treasury interest rate lock
Derivatives, Fair Value [Line Items]
Derivative, Net Hedge Ineffectiveness Gain (Loss)	1,000,000
Derivative, Notional Amount	$ 100,000,000	$ 100,000,000	$ 200,000,000
Locked fixed interest rate	1.49%	1.49%	1.633%
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 250,000,000	$ 250,000,000
Other Current Assets [Member] | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	2,000,000	2,000,000		$ 0
Other Current Assets [Member] | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	4,000,000	4,000,000		4,000,000
Other Current Assets [Member] | Nondesignated | Electricity and Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	1,000,000	1,000,000		0
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	1,000,000	1,000,000		0
Derivative Liability, Fair Value, Net	0	0		5,000,000
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	0	0		1,000,000
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging | Treasury interest rate lock
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1,000,000	1,000,000		0
Other Comprehensive Income | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	5,000,000	5,000,000		14,000,000
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	0	0		5,000,000
Accounts Payable and Accrued Liabilities [Member] | Nondesignated | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	0	0		1,000,000
Accounts Payable and Accrued Liabilities [Member] | Nondesignated | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1,000,000	1,000,000		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	4,000,000	4,000,000
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	0		4,000,000
Other Noncurrent Assets [Member] | Designated as Hedging Instrument | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	$ 0	$ 0		$ 6,000,000
Senior Notes
Derivatives, Fair Value [Line Items]
Debt instrument, term		10 years

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 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)	$ 1	$ 2	$ 7	$ 8
Interest Expense | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings	0	0	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)	0	0	1	0
Other Expense | Nondesignated | Natural Gas Contract
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	(1)	0	(1)	(1)
Other Expense | Nondesignated | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ (1)	$ (3)	$ 5	$ (3)

GOODWILL AND OTHER INTANGIBLE48

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2014	Dec. 31, 2015
Goodwill [Roll Forward]
Balance at beginning of period		$ 1,167,000,000
Balance at end of period	$ 1,338,000,000	1,338,000,000
Intangible Assets [Line Items]
Gross carrying amount	1,360,000,000	1,360,000,000		$ 1,194,000,000
Accumulated amortization	(214,000,000)	(214,000,000)		(195,000,000)
Intangible assets	1,146,000,000	1,146,000,000		999,000,000
Intangible assets amortization expense year five	27,000,000	27,000,000
Acquisitions		$ 163,000,000
Additional Franchises and Agreements	3,000,000
Customer Relationships
Intangible Assets [Line Items]
Weighted average useful life		22 years	18 years
Gross carrying amount	253,000,000	$ 253,000,000		172,000,000
Accumulated amortization	(91,000,000)	(91,000,000)		(82,000,000)
Net carrying amount	162,000,000	162,000,000		90,000,000
Acquisitions		$ 81,000,000
Additional Franchises and Agreements	0
Technology
Intangible Assets [Line Items]
Weighted average useful life		19 years	21 years
Gross carrying amount	216,000,000	$ 216,000,000		193,000,000
Accumulated amortization	(100,000,000)	(100,000,000)		(93,000,000)
Net carrying amount	116,000,000	116,000,000		100,000,000
Acquisitions		$ 23,000,000
Additional Franchises and Agreements	0
Franchise and Other Agreements
Intangible Assets [Line Items]
Weighted average useful life		9 years	10 years
Gross carrying amount	46,000,000	$ 46,000,000		43,000,000
Accumulated amortization	(23,000,000)	(23,000,000)		(20,000,000)
Net carrying amount	23,000,000	23,000,000		23,000,000
Acquisitions		0
Additional Franchises and Agreements	3,000,000
Trademarks
Intangible Assets [Line Items]
Gross carrying amount	845,000,000	845,000,000		786,000,000
Accumulated amortization	0	0		0
Indefinite-lived intangible assets	845,000,000	845,000,000		$ 786,000,000
Acquisitions		$ 59,000,000
Additional Franchises and Agreements	$ 0

GOODWILL AND OTHER INTANGIBLE49

GOODWILL AND OTHER INTANGIBLE ASSETS - GOODWILL ROLLFORWARD (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,167
Acquisitions	171
Balance at end of period	1,338
Composites
Goodwill [Roll Forward]
Balance at beginning of period	56
Acquisitions	0
Balance at end of period	56
Insulation
Goodwill [Roll Forward]
Balance at beginning of period	888
Acquisitions	0
Balance at end of period	888
Roofing
Goodwill [Roll Forward]
Balance at beginning of period	223
Acquisitions	171
Balance at end of period	394
InterWrap
Goodwill [Roll Forward]
Acquisitions	$ 171

PROPERTY, PLANT AND EQUIPMENT50

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 5,068	$ 4,811
Accumulated depreciation	(1,978)	(1,855)
Property, plant and equipment, net	$ 3,090	$ 2,956
Precious Metals Percentage	0.15	0.15
Precious Metals Depletion Percentage	0.00%	0.00%
precious metal percent of deprecation expense	0.03
Land
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 192	$ 186
Buildings and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	872	788
Machinery And Equipment
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	3,739	3,478
Construction In Progress
Property Plant And Equipment [Line Items]
Property Plant And Equipment Gross	$ 265	$ 359

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	Apr. 21, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Purchase price, net of cash acquired				$ 450	$ 0
Goodwill		$ 1,338		1,338		$ 1,167
acquisition inventory initial value		72		72
InterWrap
Business Acquisition [Line Items]
Purchase price, net of cash acquired				450
Intangible assets	$ 163
Goodwill	171
Goodwill expected to be tax-deductible	20
Net Sales recognized		121
Step-up in value of inventories		$ (2)	$ 0	10
Immaterial Error Correction		9
InterWrap | Trademarks
Business Acquisition [Line Items]
Indefinite-lived intangible assets	59
InterWrap | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 81
Weighted average useful life	25 years
InterWrap | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 23
Weighted average useful life	14 years
Ahlstrom | Other Expense
Business Acquisition [Line Items]
Acquisition agreement termination fee				$ 3

WARRANTIES (Details)

WARRANTIES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product Warranty Accrual, Beginning Balance	$ 43
Amounts accrued for current year	17
Settlements of warranty claims	(10)
Product Warranty Accrual, Ending Balance	$ 50

COST REDUCTION ACTIONS (Details

COST REDUCTION ACTIONS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	$ 8
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance	7
Restructuring Costs	8
Payments for Restructuring	(7)
Non-cash items and reclassifications to other accounts	(4)
Restructuring Reserve, Ending Balance	4
Restructuring Reserve	7		$ 4
Cumulative charges incurred for restructuring and related costs			46
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	8
InterWrap Related Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	2
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance	0
Restructuring Costs	2
Payments for Restructuring	0
Non-cash items and reclassifications to other accounts	(2)
Restructuring Reserve, Ending Balance	0
Charges related to cost reduction actions	2
Restructuring Reserve	0		0
Cumulative charges incurred for restructuring and related costs			2
Cost Reduction Actions 2014
Restructuring Cost and Reserve [Line Items]
Restructuring Costs	6
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance	7
Restructuring Costs	6
Payments for Restructuring	(7)
Non-cash items and reclassifications to other accounts	(2)
Restructuring Reserve, Ending Balance	4
Charges related to cost reduction actions		$ 6
Restructuring Reserve	7		4
Cumulative charges incurred for restructuring and related costs			44
Other Expense
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	3
Marketing and administrative expenses
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	5
Employee Severance
Restructuring Reserve Roll Forward
Restructuring Reserve, Ending Balance	3
Restructuring Reserve	3		3
Contract Termination
Restructuring Reserve Roll Forward
Restructuring Reserve, Ending Balance	1
Restructuring Reserve	1		$ 1
Ahlstrom
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	4
Ahlstrom | Other Expense
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	3
Ahlstrom | Marketing and administrative expenses
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	1
InterWrap
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	4
InterWrap | Other Expense
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	0
InterWrap | Marketing and administrative expenses
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	$ 4

DEBT (Details)

DEBT (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2012	Sep. 30, 2016	Sep. 30, 2015	Aug. 08, 2016	Apr. 20, 2016	Mar. 31, 2016	Dec. 31, 2015	Nov. 12, 2014	Oct. 17, 2012	Dec. 31, 2011
Long-Term Debt [Line Items]
Long Term Debt	$ 2,163				$ 2,163					$ 1,865
Fair Value Adjustment to Debt	8				8					6
Long Term Debt Current	3				3					163
Long Term Debt Noncurrent	2,160				2,160					1,702
Line Of Credit Facility Maximum Borrowing Capacity			$ 800
Short-term debt	$ 1				$ 1					$ 6
Typical term of borrowing facilities					1 year
Short-term Debt, Weighted Average Interest Rate	0.00%				0.00%					0.00%
Debt Issuance Cost	$ 5
Debt Instrument, Call Feature	2
Debt Instrument, Periodic Payment, Interest	$ 3
Gains (Losses) on Extinguishment of Debt	$ 1	$ 0			$ 1	$ (5)
line of credit facility, uncommitted incremental borrowings					$ 600
Senior Notes Due 2016
Long-Term Debt [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	0.00%				0.00%					103.00%
Long Term Debt	$ 0				$ 0					$ 158
Long Term Debt Current	158				$ 158
Debt Instrument Face Amount												$ 650
Repayments of Debt	$ 158		242	$ 250
Debt Instrument, Interest Rate, Stated Percentage													0.00%
Senior Notes Due 2019
Long-Term Debt [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	118.00%				118.00%					116.00%
Long Term Debt	$ 143				$ 143					$ 143
Debt Instrument Face Amount												350
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	9.00%				9.00%					9.00%
Repayments of Debt			$ 105	$ 100
Senior Notes Due 2022
Long-Term Debt [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	108.00%				108.00%					99.00%
Long Term Debt	$ 596				$ 596					$ 596
Debt Instrument Face Amount												600
Debt Instrument, Interest Rate, Stated Percentage	0.00%				0.00%
Senior Notes Due 2036
Long-Term Debt [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	128.00%				128.00%					105.00%
Long Term Debt	$ 536				$ 536					$ 536
Debt Instrument Face Amount												$ 540
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	7.00%				7.00%					7.00%
Letter Of Credit Under Receivables Purchase Agreement
Long-Term Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 188				$ 188
Long Term Debt	60				60					$ 0
Line Of Credit Facility Maximum Borrowing Capacity	250				250
Line Of Credit Facility Amount Outstanding	60				60
Letters of Credit Outstanding, Amount	2				2
Senior Revolving Credit Facility B
Long-Term Debt [Line Items]
Line of Credit Facility, Current Borrowing Capacity	791				791
Line Of Credit Facility Amount Outstanding	0				0
Letters of Credit Outstanding, Amount	9				9
Capital Lease Obligations
Long-Term Debt [Line Items]
Long Term Debt	$ 34				$ 34					$ 36
Senior Notes Due 2024 [Member]
Long-Term Debt [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	106.00%				106.00%					100.00%
Long Term Debt	$ 391				$ 391					$ 390
Debt Instrument Face Amount											$ 400
Other long term debt [Member]
Long-Term Debt [Line Items]
Long Term Debt Current										$ 2
Term Loan
Long-Term Debt [Line Items]
Long Term Debt	300				300			$ 300	$ 300
Line Of Credit Facility Amount Outstanding	$ 0				$ 0
senior notes due 2026 [Member]
Long-Term Debt [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	103.00%				103.00%					0.00%
Long Term Debt	$ 395				$ 395					$ 0
Debt Instrument Face Amount							$ 400

PENSION PLANS AND OTHER POSTR55

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 2		$ 3	$ 7	$ 9
Interest cost	15		14	46	46
Expected return on plan assets	(19)		(20)	(60)	(62)
Amortization of actuarial loss	3		5	12	14
Curtailment gain	0	$ (6)	(1)	2	0
Net periodic pension cost	1		0	1	4
Pension Settlement Expense	0		(1)	(6)	(1)
Pension Settlement Gain				0	(2)
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Defined Benefit Plan, Contributions by Employer				60
United States Pension Plans Of US Entity Defined Benefit
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	2		2	5	6
Interest cost	11		11	33	33
Expected return on plan assets	(14)		(15)	(43)	(44)
Amortization of actuarial loss	3		4	10	11
Curtailment gain	0		0	0	0
Net periodic pension cost	2		2	5	6
Pension Settlement Expense	0		0	0	0
Pension Settlement Gain				0	0
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	0		1	2	3
Interest cost	4		3	13	13
Expected return on plan assets	(5)		(5)	(17)	(18)
Amortization of actuarial loss	0		1	2	3
Curtailment gain	0		(1)	2	0
Net periodic pension cost	(1)		(2)	(4)	(2)
Pension Settlement Expense	0		(1)	(6)	(1)
Pension Settlement Gain				0	(2)
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	0		1	1	2
Interest cost	3		3	7	7
Amortization of prior service cost	(1)		(1)	(3)	(3)
Net periodic pension cost	$ 2		$ 3	$ 5	$ 6

CONTINGENT LIABILITIES AND OT56

CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions	3 Months Ended
	Sep. 30, 2016USD ($)site
Unusual or Infrequent Item [Line Items]
Environmental Liability Sites	19
Environmental Exit Costs, Reasonably Possible Additional Losses, Best Estimate | $	$ 2
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	12

STOCK COMPENSATION (Details)

STOCK COMPENSATION (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)	Apr. 21, 2016shares	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			(14,500)
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			(660,270)
Forfeitures in period number of options			(11,350)
Share-based compensation number of options ending balance	1,281,700		1,281,700
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			31.08
Forfeitures n period weighted average exercise price | $ / shares			38.50
Ending Balance | $ / shares	$ 31.03		$ 31.03
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	1,281,700		1,281,700
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term			4 years 7 months 16 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 31.03		$ 31.03
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	1,080,725		1,080,725
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term			4 years 2 months 6 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $ / shares	$ 29.56		$ 29.56
EmployeeStock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
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	$ 2	$ 3
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	2		$ 2
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition			1 year 2 months 28 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value | $	29		$ 29
Employee emergence equity program expense | $	1	1	$ 2	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			2 years 8 months 9 days
Allocated Share Based Compensation Expense | $	5	5	$ 14	13
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	$ 33		33
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $			$ 15	17
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			526,345
Number of shares vested			(388,892)
Number of shares forfeited			(45,134)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	1,799,809		1,799,809
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			45.41
Weighted average fair value of vested | $ / shares			37.60
Weighted average fair value of forfeited | $ / shares			39.70
Ending Balance | $ / shares	$ 37.66		$ 37.66
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	$ 7	$ 5
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	$ 14		$ 14
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition			1 year 10 months 13 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	661,150		661,150
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			44.49
Ending Balance | $ / shares	$ 46.08		46.08
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		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		$ 42.16
Stock Plan Member, 2016 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant	3,900,000		3,900,000		2,500,000
Stock Plan Member, 2013 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant					1,400,000
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
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant	1,400,000		1,400,000
Allocated Share Based Compensation Expense | $			$ 1

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Apr. 25, 2012
Equity Class Of Treasury Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	1,200,000		1,200,000
Net earnings attributable to Owens Corning	$ 112	$ 112	$ 307	$ 221
Weighted-average number of shares outstanding used for basic earnings per share	114,100,000	117,200,000	114,900,000	117,500,000
Non-vested restricted and performance shares	900,000	700,000	800,000	500,000
Options to purchase common stock	400,000	400,000	300,000	400,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	115,400,000	118,300,000	116,000,000	118,400,000
Basic (in dollars per share)	$ 0.98	$ 0.96	$ 2.67	$ 1.88
Diluted (in dollars per share)	$ 0.97	$ 0.95	$ 2.65	$ 1.87
Stock Repurchased During Period, Shares			3,400,000
Payments for Repurchase of Equity	$ 171
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		600,000
Equity Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount		100,000
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

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Assets:
Derivative assets	$ 7	$ 14
Liabilities:
Derivative liabilities	$ 5	$ 6
Senior Notes Due 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	0.00%	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	128.00%	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	118.00%	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	108.00%	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	106.00%	100.00%
senior notes due 2026 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	103.00%	0.00%
Fair Value Inputs Level 1
Assets:
Derivative assets	$ 0	$ 0
Liabilities:
Derivative liabilities	0	0
Fair Value Inputs Level 2
Assets:
Derivative assets	7	14
Liabilities:
Derivative liabilities	5	6
Fair Value Inputs Level 3
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Valuation Allowance [Line Items]
Income tax expense	$ 65	$ 55	$ 172	$ 112
Current Income Tax Expense (Benefit)		$ 55		$ 112
Effective Income Tax Rate Continuing Operations	37.00%	0.00%	36.00%	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		$ 0
Maximum [Member]
Valuation Allowance [Line Items]
Operating Loss Carryforwards, Valuation Allowance	$ 12		$ 12

CHANGES IN ACCUMULATED OTHER 61

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance			$ (670)
Unrealized gain (loss) on derivatives arising during period (net of tax)	$ 0	$ (2)	0	$ (3)
Deferred loss on hedging transactions (net of tax)	1	(1)	5	2
Pension and other postretirement adjustment (net of tax)	4	6	14	12
Translation impact on non-US. Plans	(2)	(38)	19	(81)
Total AOCI ending balance	$ (632)	$ (617)	$ (632)	$ (617)

COMPONENTS OF ACCUMULATED OTHER

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Total AOCI beginning balance			$ (670)
Amounts classified into AOCI, net of tax	$ 0	$ (2)	0	$ (3)
Total AOCI ending balance	(632)	(617)	(632)	(617)
Translation impact on non-US. Plans	(2)	(38)	19	(81)
Other comprehensive income/(loss), net of tax	(4)	(6)	(14)	(12)
Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Total AOCI beginning balance	(226)	(176)	(247)	(133)
Net investment hedge amounts classified into AOCI, net of tax	(3)	2	(5)	5
Other Comprehensive Income (Loss), Net of Tax	(2)	(38)	19	(81)
Total AOCI ending balance	(228)	(214)	(228)	(214)
Gain/(loss) on foreign currency translation	1	(40)	24	(86)
Pension and Other Postretirement Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net gain reclassified from AOCI to net income	3	2	3	6
Amounts classified into AOCI, net of tax	1	4	11	6
Other Comprehensive Income (Loss), Net of Tax	4	6	14	12
Total AOCI ending balance	(405)	(400)	(405)	(400)
Deferred Gain (Loss) on Hedging
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Total AOCI beginning balance	0	(2)	(4)	(5)
Net gain reclassified from AOCI to net income	(1)	(1)	(5)	(5)
Other Comprehensive Income (Loss), Net of Tax	1	(1)	5	2
Total AOCI ending balance	1	(3)	1	(3)
Pension Plan [Member] | Pension and Other Postretirement Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Total AOCI beginning balance	$ (409)	$ (406)	$ (419)	$ (412)

SCHEDULE OF RELATED INCREASES (

SCHEDULE OF RELATED INCREASES (DECREASES) FROM REVISIONS TO CONDENSED CONSOLIDATING BALANCE SHEETS (Details) - USD ($) $ in Millions	Sep. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	$ 0		$ 0
Investment in subsidiaries	0		0
Due from affiliates	0		0
TOTAL ASSETS	7,876		7,344
Due to affiliates - current	0		0
Due to affiliates	0		0
Total equity	3,935		3,779
TOTAL LIABILITIES AND EQUITY	7,876		7,344
Changes to Guarantor List [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	0
Investment in subsidiaries	0
Due from affiliates	0
TOTAL ASSETS	0
Due to affiliates - current	0
Due to affiliates	0
Total equity	0
TOTAL LIABILITIES AND EQUITY	0
Classification Errors [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current			0
Investment in subsidiaries			0
TOTAL ASSETS			0
Due to affiliates - current			0
Total equity			0
TOTAL LIABILITIES AND EQUITY			0
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	(2,530)		(2,382)
Investment in subsidiaries	(9,410)		(8,643)
Due from affiliates	0		0
TOTAL ASSETS	(12,060)		(11,156)
Due to affiliates - current	(2,530)		(2,382)
Due to affiliates	0		0
Total equity	(9,410)		(8,643)
TOTAL LIABILITIES AND EQUITY	(12,060)		(11,156)
Consolidation, Eliminations [Member] | Changes to Guarantor List [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	287
Investment in subsidiaries	452
Due from affiliates	739
TOTAL ASSETS	1,478
Due to affiliates - current	287
Due to affiliates	739
Total equity	452
TOTAL LIABILITIES AND EQUITY	1,478
Consolidation, Eliminations [Member] | Classification Errors [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current			474
Investment in subsidiaries			1,612
TOTAL ASSETS			2,086
Due to affiliates - current			474
Total equity			1,612
TOTAL LIABILITIES AND EQUITY			2,086
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	0		0
Investment in subsidiaries	7,666		7,220
Due from affiliates	0		0
TOTAL ASSETS	8,169		7,719
Due to affiliates - current	1,849		1,760
Due to affiliates	0		0
Total equity	3,893		3,739
TOTAL LIABILITIES AND EQUITY	8,169		7,719
Parent Company [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
TOTAL ASSETS		$ (484)		$ (484)
TOTAL LIABILITIES AND EQUITY		(484)		(484)
Parent Company [Member] | Changes to Guarantor List [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	0
Investment in subsidiaries	0
Due from affiliates	0
TOTAL ASSETS	0
Due to affiliates - current	0
Due to affiliates	0
Total equity	0
TOTAL LIABILITIES AND EQUITY	0
Parent Company [Member] | Classification Errors [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current			0
Investment in subsidiaries			(484)
TOTAL ASSETS			(484)
Due to affiliates - current			(484)
Total equity			0
TOTAL LIABILITIES AND EQUITY			(484)
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	2,530		2,382
Investment in subsidiaries	1,744		1,423
Due from affiliates	0		0
TOTAL ASSETS	8,869		8,343
Due to affiliates - current	0		0
Due to affiliates	0		0
Total equity	7,666		7,220
TOTAL LIABILITIES AND EQUITY	8,869		8,343
Guarantor Subsidiaries [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
TOTAL ASSETS		(1,889)		(1,923)
TOTAL LIABILITIES AND EQUITY		(1,889)		(1,922)
Guarantor Subsidiaries [Member] | Changes to Guarantor List [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	(287)
Investment in subsidiaries	(452)
Due from affiliates	0
TOTAL ASSETS	(739)
Due to affiliates - current	0
Due to affiliates	(739)
Total equity	0
TOTAL LIABILITIES AND EQUITY	(739)
Guarantor Subsidiaries [Member] | Classification Errors [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current			(474)
Investment in subsidiaries			(569)
TOTAL ASSETS			(1,043)
Due to affiliates - current			0
Total equity			(1,043)
TOTAL LIABILITIES AND EQUITY			(1,043)
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	0		0
Investment in subsidiaries	0		0
Due from affiliates	0		0
TOTAL ASSETS	2,898		2,438
Due to affiliates - current	681		622
Due to affiliates	0		0
Total equity	1,786		1,463
TOTAL LIABILITIES AND EQUITY	2,898		2,438
Non-Guarantor Subsidiaries [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
TOTAL ASSETS		(1,354)		(1,439)
TOTAL LIABILITIES AND EQUITY		$ (1,354)		$ (1,439)
Non-Guarantor Subsidiaries [Member] | Changes to Guarantor List [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current	0
Investment in subsidiaries	0
Due from affiliates	(739)
TOTAL ASSETS	(739)
Due to affiliates - current	(287)
Due to affiliates	0
Total equity	(452)
TOTAL LIABILITIES AND EQUITY	$ (739)
Non-Guarantor Subsidiaries [Member] | Classification Errors [Member] | Restatement Adjustment [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates - current			0
Investment in subsidiaries			(559)
TOTAL ASSETS			(559)
Due to affiliates - current			10
Total equity			(569)
TOTAL LIABILITIES AND EQUITY			$ (559)

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
NET SALES	$ 1,518	$ 1,447	$ 4,294	$ 4,053
COST OF SALES	1,144	1,107	3,232	3,196
Gross margin	374	340	1,062	857
OPERATING EXPENSES
Marketing and administrative expenses	141	130	426	389
Science and technology expenses	20	18	60	53
Other (income) expenses, net	6	(4)	13	5
Total operating expenses	167	144	499	447
EARNINGS BEFORE INTEREST AND TAXES	207	196	563	410
Interest expense, net	28	28	80	80
Gains (Losses) on Extinguishment of Debt	1	0	1	(5)
EARNINGS BEFORE TAXES	178	168	482	335
Income tax expense	65	55	172	112
Equity in net earnings of subsidiaries	0	0	0	0
Equity in net earnings of affiliates	0	0	1	1
NET EARNINGS	113	113	311	224
Net earnings attributable to noncontrolling interests	1	1	4	3
Net Income (Loss) Attributable to Parent	112	112	307	221
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
NET SALES	(133)	(97)	(368)	(286)
COST OF SALES	(133)	(97)	(368)	(286)
Gross margin	0	0	0	0
OPERATING EXPENSES
Marketing and administrative expenses	0	0	0	0
Science and technology expenses	0	0	0	0
Other (income) expenses, net	0	0	0	0
Total operating expenses	0	0	0	0
EARNINGS BEFORE INTEREST AND TAXES	0	0	0	0
Interest expense, net	0	0	0	0
Gains (Losses) on Extinguishment of Debt	0	0	0	0
EARNINGS BEFORE TAXES	0	0	0	0
Income tax expense	0	0	0	0
Equity in net earnings of subsidiaries	(202)	(186)	(605)	(438)
Equity in net earnings of affiliates	0	0	0	0
NET EARNINGS	(202)	(186)	(605)	(438)
Net earnings attributable to noncontrolling interests	0	0	0	0
Net Income (Loss) Attributable to Parent	(202)	(186)	(605)	(438)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
NET SALES	0	0	0	0
COST OF SALES	0	(1)	2	0
Gross margin	0	1	(2)	0
OPERATING EXPENSES
Marketing and administrative expenses	35	30	103	92
Science and technology expenses	0	0	0	0
Other (income) expenses, net	(5)	(24)	(8)	(41)
Total operating expenses	30	6	95	51
EARNINGS BEFORE INTEREST AND TAXES	(30)	(5)	(97)	(51)
Interest expense, net	28	25	74	73
Gains (Losses) on Extinguishment of Debt	1	0	1	(5)
EARNINGS BEFORE TAXES	(59)	(30)	(172)	(119)
Income tax expense	(35)	(10)	(85)	(39)
Equity in net earnings of subsidiaries	136	132	394	301
Equity in net earnings of affiliates	0	0	0	0
NET EARNINGS	112	112	307	221
Net earnings attributable to noncontrolling interests	0	0	0	0
Net Income (Loss) Attributable to Parent	112	112	307	221
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET SALES	1,106	1,050	3,123	2,909
COST OF SALES	856	829	2,439	2,366
Gross margin	250	221	684	543
OPERATING EXPENSES
Marketing and administrative expenses	76	71	233	212
Science and technology expenses	17	15	50	44
Other (income) expenses, net	(6)	6	31	24
Total operating expenses	87	92	314	280
EARNINGS BEFORE INTEREST AND TAXES	163	129	370	263
Interest expense, net	0	0	(1)	2
Gains (Losses) on Extinguishment of Debt	0	0	0	0
EARNINGS BEFORE TAXES	163	129	371	261
Income tax expense	93	51	188	97
Equity in net earnings of subsidiaries	66	54	211	137
Equity in net earnings of affiliates	0	0	0	0
NET EARNINGS	136	132	394	301
Net earnings attributable to noncontrolling interests	0	0	0	0
Net Income (Loss) Attributable to Parent	136	132	394	301
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET SALES	545	494	1,539	1,430
COST OF SALES	421	376	1,159	1,116
Gross margin	124	118	380	314
OPERATING EXPENSES
Marketing and administrative expenses	30	29	90	85
Science and technology expenses	3	3	10	9
Other (income) expenses, net	17	14	(10)	22
Total operating expenses	50	46	90	116
EARNINGS BEFORE INTEREST AND TAXES	74	72	290	198
Interest expense, net	0	3	7	5
Gains (Losses) on Extinguishment of Debt	0	0	0	0
EARNINGS BEFORE TAXES	74	69	283	193
Income tax expense	7	14	69	54
Equity in net earnings of subsidiaries	0	0	0	0
Equity in net earnings of affiliates	0	0	1	1
NET EARNINGS	67	55	215	140
Net earnings attributable to noncontrolling interests	1	1	4	3
Net Income (Loss) Attributable to Parent	$ 66	$ 54	$ 211	$ 137

CONDENSED CONSOLIDATED STATEM65

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Condensed Consolidating Statement Of Comprehensive Earnings [Table Text Block]			OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 221 $ 301 $ 140 $ (438 ) $ 224 Currency translation adjustment (net of tax) (81 ) (1 ) (86 ) 87 (81 ) Pension and other postretirement adjustment (net of tax) 12 (3 ) 8 (5 ) 12 Deferred gain on hedging (net of tax) 2 4 — (4 ) 2 COMPREHENSIVE EARNINGS 154 301 62 (360 ) 157 Comprehensive earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 154 $ 301 $ 59 $ (360 ) $ 154 WENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 307 $ 394 $ 215 $ (605 ) $ 311 Currency translation adjustment (net of tax) 19 (3 ) 28 (25 ) 19 Pension and other postretirement adjustment (net of tax) 14 22 4 (26 ) 14 Deferred gain on hedging (net of tax) 5 1 1 (2 ) 5 COMPREHENSIVE EARNINGS 345 414 248 (658 ) 349 Comprehensive earnings attributable to noncontrolling interests — — 4 — 4 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 345 $ 414 $ 244 $ (658 ) $ 345 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 136 $ 67 $ (202 ) $ 113 Currency translation adjustment (net of tax) (2 ) — 2 (2 ) (2 ) Pension and other postretirement adjustment (net of tax) 4 (1 ) 3 (2 ) 4 Deferred gain on hedging (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 115 135 72 (206 ) 116 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 115 $ 135 $ 71 $ (206 ) $ 115	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 132 $ 55 $ (186 ) $ 113 Currency translation adjustment (net of tax) (38 ) (1 ) (40 ) 41 (38 ) Pension and other postretirement adjustment (net of tax) 6 (1 ) 6 (5 ) 6 Deferred gain on hedging (net of tax) (1 ) — (1 ) 1 (1 ) COMPREHENSIVE EARNINGS 79 130 20 (149 ) 80 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 79 $ 130 $ 19 $ (149 ) $ 79
NET EARNINGS	$ 113	$ 113	$ 311	$ 224
Currency translation adjustment (net of tax)	(2)	(38)	19	(81)
Pension and other postretirement adjustment (net of tax)	4	6	14	12
Deferred loss on hedging transactions (net of tax)	1	(1)	5	2
COMPREHENSIVE EARNINGS	116	80	349	157
Comprehensive earnings attributable to noncontrolling interests	1	1	4	3
Net Income (Loss) Attributable to Noncontrolling Interest	1	1	4	3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	115	79	345	154
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	(202)	(186)	(605)	(438)
Currency translation adjustment (net of tax)	(2)	41	(25)	87
Pension and other postretirement adjustment (net of tax)	(2)	(5)	26	(5)
Deferred loss on hedging transactions (net of tax)	0	1	(2)	(4)
COMPREHENSIVE EARNINGS	(206)	(149)	(658)	(360)
Comprehensive earnings attributable to noncontrolling interests	0	0		0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	(206)	(149)	(658)	(360)
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	67	55	215	140
Currency translation adjustment (net of tax)	2	(40)	28	(86)
Pension and other postretirement adjustment (net of tax)	3	6	(4)	8
Deferred loss on hedging transactions (net of tax)	0	(1)	1	0
COMPREHENSIVE EARNINGS	72	20	248	62
Comprehensive earnings attributable to noncontrolling interests	1	1		3
Net Income (Loss) Attributable to Noncontrolling Interest	1	1	4	3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	71	19	244	59
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	136	132	394	301
Currency translation adjustment (net of tax)	0	(1)	(3)	(1)
Pension and other postretirement adjustment (net of tax)	(1)	(1)	(22)	(3)
Deferred loss on hedging transactions (net of tax)	0	0	1	4
COMPREHENSIVE EARNINGS	135	130	414	301
Comprehensive earnings attributable to noncontrolling interests	0	0		0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	135	130	414	301
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	112	112	307	221
Currency translation adjustment (net of tax)	(2)	(38)	19	(81)
Pension and other postretirement adjustment (net of tax)	4	6	(14)	12
Deferred loss on hedging transactions (net of tax)	1	(1)	5	2
COMPREHENSIVE EARNINGS	115	79	345	154
Comprehensive earnings attributable to noncontrolling interests	0	0		0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 115	$ 79	$ 345	$ 154

CONDENSED CONSOLIDATED BALANC66

CONDENSED CONSOLIDATED BALANCE SHEET (Details) - USD ($)		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents		$ 110,000,000	$ 96,000,000	$ 62,000,000	$ 67,000,000
Receivables, less allowances		796,000,000	709,000,000
Due from affiliates		0	0
Inventories		729,000,000	644,000,000
Assets held for sale		13,000,000	12,000,000
Other current assets		54,000,000	47,000,000
Total current assets		1,702,000,000	1,508,000,000
Investment in subsidiaries		0	0
Due from affiliates		0	0
Property, plant and equipment, net		3,090,000,000	2,956,000,000
Goodwill		1,338,000,000	1,167,000,000
Intangible assets, net		1,146,000,000	999,000,000
Deferred income taxes		369,000,000	492,000,000
Other non-current assets		231,000,000	222,000,000
TOTAL ASSETS		7,876,000,000	7,344,000,000
CURRENT LIABILITIES
Accounts payable and accrued liabilities		999,000,000	912,000,000
Due to affiliates		0	0
Short-term debt		1,000,000	6,000,000
Long-term debt – current portion		3,000,000	163,000,000
Total current liabilities		1,003,000,000	1,081,000,000
Long-term debt, net of current portion		2,160,000,000	1,702,000,000
Due to affiliates		0	0
Pension plan liability		321,000,000	397,000,000
Other employee benefits liability		237,000,000	240,000,000
Deferred income taxes		36,000,000	8,000,000
Redeemable equity		182,000,000	137,000,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount		2,000,000	0
OWENS CORNING STOCKHOLDERS' EQUITY
Preferred stock	[1]	0	0
Common stock	[2]	1,000,000	1,000,000
Additional paid in capital		3,973,000,000	3,965,000,000
Accumulated earnings		1,299,000,000	1,055,000,000
Accumulated other comprehensive deficit		(632,000,000)	(670,000,000)	(617,000,000)
Cost of common stock in treasury	[3]	(748,000,000)	(612,000,000)
Total Owens Corning stockholders’ equity		3,893,000,000	3,739,000,000
Noncontrolling interests		42,000,000	40,000,000
Total equity		3,935,000,000	3,779,000,000
TOTAL LIABILITIES AND EQUITY		7,876,000,000	7,344,000,000
Consolidation, Eliminations [Member]
CURRENT ASSETS
Cash and cash equivalents		0	0	0	0
Receivables, less allowances		0	0
Due from affiliates		(2,530,000,000)	(2,382,000,000)
Inventories		0	0
Assets held for sale		0	0
Other current assets		0	0
Total current assets		(2,530,000,000)	(2,382,000,000)
Investment in subsidiaries		(9,410,000,000)	(8,643,000,000)
Due from affiliates		0	0
Property, plant and equipment, net		0	0
Goodwill		0	0
Intangible assets, net		(120,000,000)	(131,000,000)
Deferred income taxes		0	0
Other non-current assets		0	0
TOTAL ASSETS		(12,060,000,000)	(11,156,000,000)
CURRENT LIABILITIES
Accounts payable and accrued liabilities		0	0
Due to affiliates		(2,530,000,000)	(2,382,000,000)
Short-term debt		0	0
Long-term debt – current portion		0	0
Total current liabilities		(2,530,000,000)	(2,382,000,000)
Long-term debt, net of current portion		0	0
Due to affiliates		0	0
Pension plan liability		0	0
Other employee benefits liability		0	0
Deferred income taxes		0	0
Redeemable equity		(120,000,000)	(131,000,000)
Redeemable Noncontrolling Interest, Equity, Carrying Amount		0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		(9,410,000,000)	(8,643,000,000)
Noncontrolling interests		0	0
Total equity		(9,410,000,000)	(8,643,000,000)
TOTAL LIABILITIES AND EQUITY		(12,060,000,000)	(11,156,000,000)
Parent Company [Member]
CURRENT ASSETS
Cash and cash equivalents		35,000,000	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		11,000,000	11,000,000
Total current assets		46,000,000	11,000,000
Investment in subsidiaries		7,666,000,000	7,220,000,000
Due from affiliates		0	0
Property, plant and equipment, net		467,000,000	463,000,000
Goodwill		0	0
Intangible assets, net		0	0
Deferred income taxes		(23,000,000)	0
Other non-current assets		13,000,000	25,000,000
TOTAL ASSETS		8,169,000,000	7,719,000,000
CURRENT LIABILITIES
Accounts payable and accrued liabilities		83,000,000	56,000,000
Due to affiliates		1,849,000,000	1,760,000,000
Short-term debt		0	0
Long-term debt – current portion		0	160,000,000
Total current liabilities		1,932,000,000	1,976,000,000
Long-term debt, net of current portion		2,069,000,000	1,668,000,000
Due to affiliates		0	0
Pension plan liability		230,000,000	286,000,000
Other employee benefits liability		0	0
Deferred income taxes		0	0
Redeemable equity		45,000,000	50,000,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount		0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		3,893,000,000	3,739,000,000
Noncontrolling interests		0	0
Total equity		3,893,000,000	3,739,000,000
TOTAL LIABILITIES AND EQUITY		8,169,000,000	7,719,000,000
Guarantor Subsidiaries [Member]
CURRENT ASSETS
Cash and cash equivalents		2,000,000	48,000,000	2,000,000	1,000,000
Receivables, less allowances		0	0
Due from affiliates		2,530,000,000	2,382,000,000
Inventories		425,000,000	392,000,000
Assets held for sale		3,000,000	0
Other current assets		21,000,000	21,000,000
Total current assets		2,981,000,000	2,843,000,000
Investment in subsidiaries		1,744,000,000	1,423,000,000
Due from affiliates		0	0
Property, plant and equipment, net		1,533,000,000	1,451,000,000
Goodwill		1,159,000,000	1,149,000,000
Intangible assets, net		1,043,000,000	986,000,000
Deferred income taxes		341,000,000	430,000,000
Other non-current assets		68,000,000	61,000,000
TOTAL ASSETS		8,869,000,000	8,343,000,000
CURRENT LIABILITIES
Accounts payable and accrued liabilities		776,000,000	703,000,000
Due to affiliates		0	0
Short-term debt		0	0
Long-term debt – current portion		2,000,000	2,000,000
Total current liabilities		778,000,000	705,000,000
Long-term debt, net of current portion		12,000,000	14,000,000
Due to affiliates		0	0
Pension plan liability		0	0
Other employee benefits liability		223,000,000	227,000,000
Deferred income taxes		0	0
Redeemable equity		190,000,000	177,000,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount		0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		7,666,000,000	7,220,000,000
Noncontrolling interests		0	0
Total equity		7,666,000,000	7,220,000,000
TOTAL LIABILITIES AND EQUITY		8,869,000,000	8,343,000,000
Non-Guarantor Subsidiaries [Member]
CURRENT ASSETS
Cash and cash equivalents		73,000,000	48,000,000	$ 60,000,000	$ 66,000,000
Receivables, less allowances		796,000,000	709,000,000
Due from affiliates		0	0
Inventories		304,000,000	252,000,000
Assets held for sale		10,000,000	12,000,000
Other current assets		22,000,000	15,000,000
Total current assets		1,205,000,000	1,036,000,000
Investment in subsidiaries		0	0
Due from affiliates		0	0
Property, plant and equipment, net		1,090,000,000	1,042,000,000
Goodwill		179,000,000	18,000,000
Intangible assets, net		223,000,000	144,000,000
Deferred income taxes		51,000,000	62,000,000
Other non-current assets		150,000,000	136,000,000
TOTAL ASSETS		2,898,000,000	2,438,000,000
CURRENT LIABILITIES
Accounts payable and accrued liabilities		140,000,000	153,000,000
Due to affiliates		681,000,000	622,000,000
Short-term debt		1,000,000	6,000,000
Long-term debt – current portion		1,000,000	1,000,000
Total current liabilities		823,000,000	782,000,000
Long-term debt, net of current portion		79,000,000	20,000,000
Due to affiliates		0	0
Pension plan liability		91,000,000	111,000,000
Other employee benefits liability		14,000,000	13,000,000
Deferred income taxes		36,000,000	8,000,000
Redeemable equity		67,000,000	41,000,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount		2,000,000	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		1,744,000,000	1,423,000,000
Noncontrolling interests		42,000,000	40,000,000
Total equity		1,786,000,000	1,463,000,000
TOTAL LIABILITIES AND EQUITY		$ 2,898,000,000	$ 2,438,000,000
[1]	10 shares authorized; none issued or outstanding at September 30, 2016 and December 31, 2015
[2]	400 shares authorized; 135.5 issued and 113.6 outstanding at September 30, 2016; 135.5 issued and 115.9 outstanding at December 31, 2015
[3]	21.9 shares at September 30, 2016, and 19.6 shares at December 31, 2015

CONDENSED CONSOLIDATED STATEM67

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	$ 679	$ 410
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(281)	(266)
Proceeds from the sale of assets or affiliates	0	3
Investment in subsidiaries and affiliates, net of cash acquired	(450)	0
Purchases of alloy	0	(8)
Proceeds from sale of alloy	0	8
Other	2	0
Net cash flow used for investing activities	(729)	(263)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	574	1,079
Proceeds from Issuance of Other Long-term Debt	395	0
Proceeds from term loan borrowing	300	0
Repayments of Other Long-term Debt		0
Payments on senior revolving credit and receivables securitization facilities	(514)	(1,082)
Payments on long-term debt	(160)	(8)
Net decrease in short-term debt	(5)	(10)
Cash dividends paid	(61)	(58)
Purchases of treasury stock	(176)	(86)
Intercompany dividends paid	0	0
Other intercompany loans	0	0
Other	10	18
Net cash flow provided by (used for) financing activities	63	(147)
Proceeds from (Repayments of) Other Long-term Debt	(300)
Effect of exchange rate changes on cash	1	(5)
Net increase (decrease) in cash and cash equivalents	14	(5)
Cash and cash equivalents at beginning of period	96	67
Cash and cash equivalents at end of period	110	62
Consolidation, Eliminations [Member]
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	(11)	0
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	0	0
Proceeds from the sale of assets or affiliates	0	0
Investment in subsidiaries and affiliates, net of cash acquired	0	0
Purchases of alloy	0	0
Proceeds from sale of alloy	0	0
Other	0	0
Net cash flow used for investing activities	0	0
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from Issuance of Other Long-term Debt	0	0
Proceeds from term loan borrowing	0	0
Repayments of Other Long-term Debt		0
Payments on senior revolving credit and receivables securitization facilities	0	0
Payments on long-term debt	0	0
Net decrease in short-term debt	0	0
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	11	0
Other intercompany loans	0	0
Other	0	0
Net cash flow provided by (used for) financing activities	11	0
Proceeds from (Repayments of) Other Long-term Debt	0
Effect of exchange rate changes on cash	0	0
Net increase (decrease) 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
Parent Company [Member]
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	(67)	(54)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(11)	(10)
Proceeds from the sale of assets or affiliates	0	0
Investment in subsidiaries and affiliates, net of cash acquired	0	0
Purchases of alloy	0	0
Proceeds from sale of alloy	0	0
Other	2	0
Net cash flow used for investing activities	(9)	(10)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	943
Proceeds from Issuance of Other Long-term Debt	395	0
Proceeds from term loan borrowing	300	0
Repayments of Other Long-term Debt		0
Payments on senior revolving credit and receivables securitization facilities	0	(942)
Payments on long-term debt	(160)	(5)
Net decrease in short-term debt	0	0
Cash dividends paid	(61)	(58)
Purchases of treasury stock	(176)	(86)
Intercompany dividends paid	0	0
Other intercompany loans	103	194
Other	10	18
Net cash flow provided by (used for) financing activities	111	64
Proceeds from (Repayments of) Other Long-term Debt	300
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	35	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	35	0
Guarantor Subsidiaries [Member]
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	621	248
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(216)	(203)
Proceeds from the sale of assets or affiliates	0	0
Investment in subsidiaries and affiliates, net of cash acquired	0	0
Purchases of alloy	0	0
Proceeds from sale of alloy	0	0
Other	0	0
Net cash flow used for investing activities	(216)	(203)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from Issuance of Other Long-term Debt	0	0
Proceeds from term loan borrowing	0	0
Repayments of Other Long-term Debt		0
Payments on senior revolving credit and receivables securitization facilities	0	0
Payments on long-term debt	0	(1)
Net decrease in short-term debt	0	(13)
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	0	0
Other intercompany loans	(451)	(30)
Other	0	0
Net cash flow provided by (used for) financing activities	(451)	(44)
Proceeds from (Repayments of) Other Long-term Debt	0
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	(46)	1
Cash and cash equivalents at beginning of period	48	1
Cash and cash equivalents at end of period	2	2
Non-Guarantor Subsidiaries [Member]
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	136	216
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(54)	(53)
Proceeds from the sale of assets or affiliates	0	3
Investment in subsidiaries and affiliates, net of cash acquired	(450)	0
Purchases of alloy	0	(8)
Proceeds from sale of alloy	0	8
Other	0	0
Net cash flow used for investing activities	(504)	(50)
NET CASH FLOW PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	574	136
Proceeds from Issuance of Other Long-term Debt	0	0
Proceeds from term loan borrowing	0	0
Repayments of Other Long-term Debt		0
Payments on senior revolving credit and receivables securitization facilities	(514)	(140)
Payments on long-term debt	0	(2)
Net decrease in short-term debt	(5)	3
Cash dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	(11)	0
Other intercompany loans	348	(164)
Other	0	0
Net cash flow provided by (used for) financing activities	392	(167)
Proceeds from (Repayments of) Other Long-term Debt	0
Effect of exchange rate changes on cash	1	(5)
Net increase (decrease) in cash and cash equivalents	25	(6)
Cash and cash equivalents at beginning of period	48	66
Cash and cash equivalents at end of period	$ 73	$ 60