Owens Corning (OC) 10-Q 26 Jul 17 2017 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
	Jun. 30, 2017	Jul. 17, 2017
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	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock Shares Outstanding		111,193,238

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
NET SALES	$ 1,597	$ 1,545	$ 3,075	$ 2,776
COST OF SALES	1,188	1,129	2,323	2,088
Gross margin	409	416	752	688
OPERATING EXPENSES
Marketing and administrative expenses	155	151	297	285
Science and technology expenses	21	21	42	40
Other expenses, net	43	4	53	7
Total operating expenses	219	176	392	332
EARNINGS BEFORE INTEREST AND TAXES	190	240	360	356
Interest expense, net	27	29	53	52
EARNINGS BEFORE TAXES	163	211	307	304
Income tax expense	67	73	110	107
Equity in net earnings of affiliates	0	1	0	1
NET EARNINGS	96	139	197	198
Net earnings attributable to noncontrolling interests	0	1	0	3
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 96	$ 138	$ 197	$ 195
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 0.86	$ 1.20	$ 1.76	$ 1.69
Diluted (in dollars per share)	0.85	1.19	1.74	1.67
Dividend (in dollars per share)	$ 0.20	$ 0.18	$ 0.40	$ 0.36
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	111.6	115.1	112	115.3
Diluted (in shares)	113.1	116.4	113.5	116.5

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 96	$ 139	$ 197	$ 198
Currency translation adjustment (net of tax of $6 and $(4) for the three months ended June 30, 2017 and 2016, respectively, and $6 and $1 for the six months ended June 30, 2017 and 2016, respectively)	29	(13)	65	21
Pension and other postretirement adjustment (net of tax of $(7) and $1 for the three months ended June 30, 2017 and 2016, respectively, and $(8) and $3 for the six months ended June 30, 2017 and 2016, respectively)	14	0	14	10
Hedging adjustment (net of tax of $1 and $(2) for the three months ended June 30, 2017 and 2016, respectively, and $2 and $(2) for the six months ended June 30, 2017 and 2016, respectively)	(1)	3	(3)	4
COMPREHENSIVE EARNINGS	138	129	273	233
Comprehensive earnings attributable to noncontrolling interests	0	1	0	3
Net earnings attributable to noncontrolling interests	0	1	0	3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 138	$ 128	$ 273	$ 230

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Currency translation adjustment tax	$ 6	$ (4)	$ 6	$ 1
Pension and other postretirement tax	(7)	1	(8)	3
Deferred (loss) gain on hedging tax	$ 1	$ (2)	$ 2	$ (2)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents		$ 199	$ 112
Receivables, less allowances of $12 at June 30, 2017 and $9 at December 31, 2016		915	678
Inventories		792	710
Assets held for sale		10	12
Other current assets		72	74
Total current assets		1,988	1,586
Property, plant and equipment, net		3,336	3,112
Goodwill		1,484	1,336
Intangible assets, net		1,361	1,138
Deferred income taxes		321	375
Other non-current assets		200	194
TOTAL ASSETS		8,690	7,741
CURRENT LIABILITIES
Accounts payable and accrued liabilities		1,113	960
Long-term debt – current portion		3	3
Total current liabilities		1,116	963
Long-term debt, net of current portion		2,686	2,099
Pension plan liability		372	367
Other employee benefits liability		240	221
Deferred income taxes		75	36
Other liabilities		186	164
Redeemable equity		0	2
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		3,988	3,984
Accumulated earnings		1,529	1,377
Accumulated other comprehensive deficit		(634)	(710)
Cost of common stock in treasury (c)	[3]	(908)	(803)
Total Owens Corning stockholders’ equity		3,976	3,849
Noncontrolling interests		39	40
Total equity		4,015	3,889
TOTAL LIABILITIES AND EQUITY		$ 8,690	$ 7,741
[1]	10 shares authorized; none issued or outstanding at June 30, 2017 and December 31, 2016
[2]	400 shares authorized; 135.5 issued and 111.3 outstanding at June 30, 2017; 135.5 issued and 112.7 outstanding at December 31, 2016
[3]	24.2 shares at June 30, 2017, and 22.8 shares at December 31, 2016

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 12	$ 9
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	111,300,000	112,700,000
Treasury stock shares	24,200,000	22,800,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS	$ 197	$ 198
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization	168	158
Deferred income taxes	73	83
Provision for pension and other employee benefits liabilities	39	3
Stock-based compensation expense	20	17
Other non-cash	2	(5)
Changes in operating assets and liabilities	(74)	(117)
Pension fund contributions	(16)	(9)
Payments for other employee benefits liabilities	(9)	(9)
Other	(8)	7
Net cash flow provided by operating activities	392	326
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(170)	(187)
Proceeds from the sale of assets or affiliates	3	0
Investment in subsidiaries and affiliates, net of cash acquired	(561)	(450)
Other	3	2
Net cash flow used for investing activities	(725)	(635)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	588	0
Proceeds from senior revolving credit and receivables securitization facilities	337	434
Proceeds from term loan borrowing	0	300
Payments on senior revolving credit and receivables securitization facilities	(337)	(326)
Net decrease in short-term debt	0	(6)
Dividends paid	(45)	(40)
Purchases of treasury stock	(134)	(87)
Other	3	4
Net cash flow provided by financing activities	412	279
Effect of exchange rate changes on cash	9	1
Net increase (decrease) in cash, cash equivalents and restricted cash	88	(29)
Cash, cash equivalents and restricted cash at beginning of period	118	96
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 206	$ 67

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2017
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, 2016 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, 2016 (the "2016 Form 10-K"). Certain reclassifications have been made to the periods presented for 2016 to conform to the classifications used in the periods presented for 2017. Cash, Cash Equivalents and Restricted Cash The Company defines cash and cash equivalents as cash and time deposits with maturities of three months or less when purchased. On the Consolidated Statements of Cash Flows, the total of Cash, cash equivalents and restricted cash includes restricted cash of $7 million and $6 million as of June 30, 2017 and December 31, 2016 , respectively. On the Consolidated Balance Sheets, restricted cash is included in Other current assets. There were no restricted cash amounts for the previous time periods presented in the Consolidated Statements of Cash Flows. Restricted cash primarily represents amounts received from a counterparty related to its performance assurance on an executory contract. These amounts are contractually required to be set aside, and the counterparty can exchange the cash for another form of performance assurance at its discretion.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2017
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 includes vertically integrated downstream activities. The Company manufactures, fabricates and sells glass reinforcements in the form of fiber. Glass reinforcement materials are also used downstream by the Composites segment to manufacture and sell glass fiber products in the form of fabrics, non-wovens and other specialized products. Insulation – Within our Insulation segment, 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, flexible duct media, bonded and granulated mineral wool insulation, cellular glass and foam insulation used in above- and below-grade construction applications. Roofing – Within our Roofing segment, the Company manufactures and sells residential roofing shingles, oxidized asphalt materials, roofing components used in residential and commercial construction and specialty applications, and synthetic packaging materials. NET SALES 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 Six Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 537 $ 517 $ 1,048 $ 990 Insulation 439 414 838 799 Roofing 684 679 1,311 1,108 Total reportable segments 1,660 1,610 3,197 2,897 Corporate eliminations (63 ) (65 ) (122 ) (121 ) NET SALES $ 1,597 $ 1,545 $ 3,075 $ 2,776 External Customer Sales by Geographic Region United States $ 1,139 $ 1,097 $ 2,190 $ 1,942 Europe 147 152 287 286 Asia Pacific 185 174 338 319 Other 126 122 260 229 NET SALES $ 1,597 $ 1,545 $ 3,075 $ 2,776 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 Six Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 84 $ 74 $ 155 $ 138 Insulation 29 32 34 45 Roofing 155 169 280 242 Total reportable segments 268 275 469 425 Restructuring costs (29 ) (3 ) (29 ) (3 ) Acquisition-related costs (10 ) (2 ) (11 ) (4 ) Recognition of InterWrap inventory fair value step-up — (8 ) — (8 ) Litigation settlement gain, net of legal fees 29 — 29 — Pension settlement losses (30 ) — (30 ) — General corporate expense and other (38 ) (22 ) (68 ) (54 ) EBIT $ 190 $ 240 $ 360 $ 356

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): June 30, 2017 December 31, 2016 Finished goods $ 521 $ 482 Materials and supplies 271 228 Total inventories $ 792 $ 710

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 , 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 June 30, 2017 December 31, 2016 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 $ 3 $ 18 Cash flow hedges: Natural gas forward swaps Other current assets $ — $ 4 Amount of gain recognized in OCI (effective portion) OCI $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges: Cross currency swaps Other liabilities $ 10 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ 1 $ — Amount of loss recognized in OCI related to natural gas forward swaps (effective portion) OCI $ 1 $ — Amount of loss recognized in OCI related to treasury interest rate lock (effective portion) OCI $ 1 $ 1 Derivative assets not designated as hedging instruments: Natural gas forward swaps Other current assets $ — $ 1 Foreign exchange contracts Other current assets $ — $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities $ 2 $ 2 The following table presents the notional amount of derivatives and hedging instruments on the Consolidated Balance Sheet (in millions): Notional Amount Unit of Measure June 30, 2017 Net investment hedges: Cross currency swaps U.S. Dollars $ 250 Cash flow hedges: Natural gas forward swaps U.S. indices MMBtu 8 Natural gas forward swaps European indices MMBtu (equivalent) 2 The Company had notional amounts of $81 million for derivative financial instruments related to non-designated foreign currency exposures in U.S. Dollars primarily related to Brazilian Real, Chinese Yuan, Indian Rupee, Japanese Yen, and South Korean Won. In addition, the Company had notional amounts of $36 million for derivative financial instruments related to non-designated foreign currency exposures in European Euro primarily related to Russian Rubles. Please refer to the Other Derivatives section below for more detail on these instruments. The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Six Months Ended Location 2017 2016 2017 2016 Derivative activity designated as hedging instruments: Natural gas: Amount of (gain)/loss reclassified from OCI into earnings (effective portion) Cost of sales $ (1 ) $ 3 $ (2 ) $ 6 Foreign currency: Amount of loss reclassified from OCI into earnings (effective portion) Other expenses, net $ — $ — $ — $ 1 Interest rate: Amount of loss recognized in earnings Interest expense, net $ 1 $ — $ 1 $ 1 Derivative activity not designated as hedging instruments: Natural gas: Amount of loss/(gain) recognized in earnings Other expenses, net $ 1 $ — $ 1 $ (1 ) Foreign currency: Amount of loss recognized in earnings (a) Other expenses, net $ 4 $ 3 $ 4 $ 6 (a) Losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses, net . Cash Flow Hedges The Company uses a combination of derivative financial instruments, which qualify as cash flow hedges, and physical contracts to manage forecasted exposure to electricity and natural gas prices. The Company's policy for electricity exposure is to hedge up to 75% of its total forecasted exposure for the current calendar year and up to 65% of its total forecasted exposure for the first calendar year forward. The Company’s policy for natural gas exposure is to hedge up to 75% of its total forecasted exposure for the next two months, up to 60% of its total forecasted exposure for the following four months, and lesser amounts for the remaining periods. Based on market conditions, approved variation from these standard policies may occur. Currently, the Company is managing risk associated with electricity prices only through physical contracts and has natural gas derivatives designated as hedging instruments that mature within 15 months . 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 contracts and the underlying items being hedged. 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 the Other non-cash line within operating activities on the Consolidated Statements of Cash Flows. Any portion of the change in fair value of derivatives designated as hedging instruments that is determined to be ineffective is recorded in Other expenses, net on the Consolidated Statements of Earnings. In June and July 2016, the Company entered into a total of $300 million of forward U.S. Treasury rate lock agreements 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 Company designated these forward U.S. Treasury rate lock agreements as cash flow hedges, and paid $1 million to settle these agreements in August 2016 upon issuance of its 2026 senior notes. The $1 million fair value of these agreements will be amortized over the remaining life of the 2026 senior notes as a component of interest expense. 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 Company's 2026 senior notes. As of June 30, 2017 , $1 million of losses 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. 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 (primarily the European Euro). For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, settlements and changes in fair values of the derivative instruments are recognized in Currency translation adjustment, a component of Accumulated OCI, to offset the changes in the values of the net investments being hedged. Any portion of net investment hedges that is determined to be ineffective is recorded in Other expenses, net on the Consolidated Statements of Earnings. Cash settlements are included in Other investing activities in the Consolidated Statements of Cash Flows. Other Derivatives The Company uses forward currency exchange contracts to manage existing exposures to foreign exchange risk related to assets and liabilities recorded on the Consolidated Balance Sheets. Gains and losses resulting from the changes in fair value of these instruments are recorded in Other expenses, net on the Consolidated Statements of Earnings.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets and goodwill consist of the following (in millions): June 30, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 19 $ 374 $ (100 ) $ 274 Technology 18 231 (109 ) 122 Other 9 45 (24 ) 21 Indefinite-lived intangible assets: Trademarks 944 — 944 Total intangible assets $ 1,594 $ (233 ) $ 1,361 Goodwill $ 1,484 December 31, 2016 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 22 $ 252 $ (94 ) $ 158 Technology 19 216 (103 ) 113 Other 9 45 (23 ) 22 Indefinite-lived intangible assets: Trademarks 845 — 845 Total intangible assets $ 1,358 $ (220 ) $ 1,138 Goodwill $ 1,336 Other Intangible Assets The Company expects the ongoing amortization expense for amortizable intangible assets to be approximately $37 million in each of the next five fiscal years, which includes approximately $10 million of annual amortization expense from the preliminary purchase price allocation of the acquisition of Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively "Pittsburgh Corning"); see Note 7 for more details of this acquisition. The Other category below primarily includes franchise agreements and emission rights. The changes in the gross carrying amount of intangible assets by asset group are as follows (in millions): Customer Relationships Technology Trademarks Other Total Balance at December 31, 2016 $ 252 $ 216 $ 845 $ 45 $ 1,358 Acquisitions (see Note 7) 121 15 99 — 235 Foreign Currency Translation 1 — — — 1 Balance at June 30, 2017 $ 374 $ 231 $ 944 $ 45 $ 1,594 Goodwill During the second quarter of 2017, goodwill increased by $143 million as a result of the acquisition of Pittsburgh Corning. 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 six months of 2017 . The changes in the net carrying amount of goodwill by segment are as follows (in millions): Composites Insulation Roofing Total Balance at December 31, 2016 $ 55 $ 888 $ 393 $ 1,336 Acquisitions (see Note 7) — 143 — 143 Foreign currency translation 1 — 4 5 Balance at June 30, 2017 $ 56 $ 1,031 $ 397 $ 1,484

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPTMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): June 30, December 31, 2016 Land $ 201 $ 189 Buildings and leasehold improvements 978 874 Machinery and equipment 4,039 3,818 Construction in progress 285 250 5,503 5,131 Accumulated depreciation (2,167 ) (2,019 ) Property, plant and equipment, net $ 3,336 $ 3,112 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 13% and 14% of total machinery and equipment as of June 30, 2017 and December 31, 2016 . 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	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Mergers, Acquisitions and Dispositions Disclosures	ACQUISITIONS Pittsburgh Corning Acquisition On June 27, 2017, the Company acquired all outstanding equity of Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets, for approximately $567 million , net of cash acquired. This acquisition expands the Company’s position in commercial and industrial product offerings and grows its presence in Europe and Asia. Because the acquisition was completed close to the end of the second quarter of 2017, all fair values of the identifiable assets acquired and liabilities assumed are preliminary estimates and are based on the information that was available as of the acquisition date. The estimated fair values of intangible assets by type represent preliminary valuations based on management’s estimates, forecasted financial information and reasonable and supportable assumptions. The following table details the identifiable indefinite and definite-lived intangible assets acquired, their preliminary fair values and estimated weighted average useful lives (in millions): Type of Intangible Asset Preliminary Fair Value Weighted Average Useful Life Customer relationships $ 121 15 Technology 15 11 Trademarks 99 indefinite Total $ 235 During the second quarter of 2017, the operating results of the acquired business were immaterial, and a preliminary purchase price allocation, including goodwill, has been included in the Insulation segment of the Company's Consolidated Financial Statements since the date of the acquisition. Goodwill has been initially valued at approximately $143 million , with none of the amount 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 Pittsburgh Corning acquisition and will accelerate making the Company the leading provider of insulation solutions by building on core glass technologies. The acquisition also included cash of approximately $50 million . The Company expects to complete its valuations no later than one year from the acquisition date and adjustments will continue to be made to the fair value of the identifiable assets acquired and liabilities assumed. Those adjustments may or may not be material. The pro forma effect of this acquisition on Net Sales and Net earnings attributable to Owens Corning was not material. InterWrap Acquisition On April 21, 2016, the Company acquired all outstanding shares of InterWrap Holdings, Inc. ("InterWrap"), a leading manufacturer of roofing underlayment and packaging materials, for approximately $452 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 have been included in the Roofing segment of the Company's Consolidated Financial Statements since the date of the acquisition. During the six months ended June 30, 2017 , the Consolidated Statements of Earnings included $86 million in Net sales attributable to the InterWrap acquisition (related to the one-year post-acquisition period). The pro forma effect of this acquisition on Net sales and Net earnings attributable to Owens Corning was not material.

WARRANTIES

WARRANTIES	6 Months Ended
	Jun. 30, 2017
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): Six Months Ended June 30, 2017 Beginning balance $ 52 Amounts accrued for current year 10 Settlements of warranty claims (8 ) Ending balance $ 54

ACQUISITION-RELATED COSTS

ACQUISITION-RELATED COSTS	6 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
ACQUISITION-RELATED COSTS	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 six months of 2017 , the Company incurred $11 million of transaction and integration costs related to its announced acquisitions. Please refer to Note 7 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded in the Corporate, Other and Eliminations category. See Restructuring Costs section below for detail on additional costs related to these acquisitions. The following table presents the impact and respective location of acquisition-related costs for the six months of 2017 on the Consolidated Statements of Earnings (in millions): Location InterWrap Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 1 $ 1 $ 2 Other expenses, net — 9 9 Total acquisition-related costs $ 1 $ 10 $ 11 Restructuring Costs Pittsburgh Corning Acquisition-Related Restructuring Following the acquisition of Pittsburgh Corning into the Company's Insulation segment, the Company took actions to realize expected synergies from the newly acquired operations. During the second quarter of 2017, the Company recorded $14 million of severance charges related to these actions. The Company expects to incur an immaterial amount of incremental costs in the remainder of 2017 related to these actions. 2017 Cost Reduction Actions During the second quarter of 2017, the Company took actions to avoid future capital outlays and reduce costs in its Composites segment, mainly through decisions to close certain sub-scale manufacturing facilities in Asia Pacific and North America and to reposition assets in its European operations. The Company recorded $13 million of charges, comprised of $11 million of severance, $1 million of accelerated depreciation and $1 million of exit costs associated with these actions. The Company expects to recognize approximately $40 million of additional exit costs in 2017 and 2018, of which about $25 million is accelerated depreciation. Other Restructuring Actions During the remainder of 2017 , the Company expects to incur an immaterial amount of incremental costs related to its 2016 Cost Reduction Actions and InterWrap Acquisition-Related Restructuring. Please refer to Note 11 of our 2016 Form 10-K for more information about these restructuring actions. Consolidated Statements of Earnings Classification The following table presents the impact and respective location of total restructuring costs on the Consolidated Statements of Earnings, which are included in our Corporate, Other and Eliminations category (in millions): Three Months Ended Six Months Ended Type of cost Location 2017 2016 2017 2016 Accelerated depreciation Cost of sales $ 2 $ 1 $ 2 $ 1 Other exit costs Cost of sales 2 2 2 2 Severance Other expenses, net 25 — 25 — Total restructuring costs $ 29 $ 3 $ 29 $ 3 Summary of Unpaid Liabilities The following table summarizes the status of the unpaid liabilities from the Company's restructuring activity (in millions): 2017 Cost Reduction Actions Pittsburgh Corning Acquisition-Related Restructuring 2016 Cost Reduction Actions InterWrap Acquisition-Related Restructuring 2014 Cost Reduction Actions Total Balance at December 31, 2016 $ — $ — $ 1 $ — $ 1 $ 2 Restructuring costs 13 14 1 1 — 29 Non-cash items (2 ) — (1 ) (1 ) — (4 ) Balance at June 30, 2017 $ 11 $ 14 $ 1 $ — $ 1 $ 27 Cumulative charges incurred $ 13 $ 14 $ 19 $ 4 $ 45 $ 95 As of June 30, 2017 , the remaining liability balance is comprised of $27 million of severance, inclusive of $6 million of long-term severance and $21 million of severance the Company expects to pay over the next twelve months.

DEBT DEBT

DEBT DEBT	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Details of the Company’s outstanding long-term debt are as follows (in millions): June 30, 2017 December 31, 2016 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 597 596 4.20% senior notes, net of discount and financing fees, due 2024 391 391 3.40% senior notes, net of discount and financing fees, due 2026 395 395 7.00% senior notes, net of discount and financing fees, due 2036 537 536 4.30% senior notes, net of discount and financing fees, due 2047 588 — Various capital leases, due through and beyond 2050 31 33 Fair value adjustment to debt 7 8 Total long-term debt 2,689 2,102 Less – current portion 3 3 Long-term debt, net of current portion $ 2,686 $ 2,099 Senior Notes The Company issued $600 million of 2047 senior notes on June 26, 2017 subject to $12 million of discounts and issuance costs. Interest on the 2047 senior notes is payable semiannually in arrears on January 15 and July 15 each year, beginning on January 15, 2018. A portion of the proceeds from the 2047 senior notes was used to fund the purchase of Pittsburgh Corning in the second quarter of 2017. In the third quarter of 2017, a portion of the proceeds was used by the Company, in addition to borrowings on the Receivables Securitization Facility (as defined below), to repurchase $82 million of its outstanding 2019 senior notes and $140 million of its outstanding 2036 senior notes, together with a $58 million tender premium and $1 million of accrued interest. The Company also issued a make-whole call to repay the remainder of its outstanding 2019 senior notes, which it expects to complete in the middle of the third quarter of 2017 with a redemption premium of approximately $8 million and $1 million of accrued interest. In total for all of these repurchase and redemption activities, the Company expects to recognize approximately $71 million of loss on extinguishment of debt in the third quarter of 2017, inclusive of the remaining unamortized financing fees and discount. The remaining proceeds of the 2047 senior notes are to be used for general corporate purposes. The Company issued $400 million of 2026 senior notes on August 8, 2016. 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 was used to redeem $158 million of our 2016 senior notes. 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. 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 borrowers or guarantors 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 June 30, 2017 . 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. 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. 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 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 June 30, 2017 . Please refer to the Credit Facility Utilization paragraph below for liquidity information as of June 30, 2017 . Term Loan Commitment The Company obtained a term loan commitment on June 8, 2017 for $350 million (the "Term Loan Commitment"), separate from the $600 million of unc ommitted incremental loans permitted under the Senior Revolving Credit Facility. The Company entered into the Term Loan Commitment, in part, to pay a portion of the purchase price of the Pittsburgh Corning acquisition. If drawn, the Term Loan Commitment requires full repayment by June 2018 for any outstanding borrowings. In the second quarter of 2017, the Company used a portion of the proceeds from the issuance of the 2047 senior notes for the Pittsburgh Corning acquisition, in lieu of drawing on this Term Loan Commitment. The Term Loan Commitment 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 June 30, 2017 . Please refer to the Credit Facility Utilization paragraph below for liquidity information as of June 30, 2017 . Receivables Securitization Facility From time to time, the Company has borrowings 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") now matures in May 2020, following amendments in March 2017 and May 2017 to extend its maturity. No other significant terms impacting liquidity were amended. 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. 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 June 30, 2017 . Please refer to the Credit Facility Utilization paragraph below for liquidity information as of June 30, 2017 . 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. Credit Facility Utilization The following table shows how the Company utilized its primary sources of liquidity (in millions): As of June 30, 2017 Senior Revolving Credit Facility Receivables Securitization Facility Term Loan Commitment (a) Facility size or borrowing limit $ 800 $ 250 $ 350 Borrowings — — — Outstanding letters of credit 9 2 n/a Availability on facility $ 791 $ 248 $ 350 (a) On July 24, 2017, the Company provided formal notification of its intent to voluntarily reduce the entire Term Loan Commitment, thus eliminating the availability of credit under the facility effective on July 31, 2017. Short-Term Debt At both June 30, 2017 and December 31, 2016, short-term borrowings were less than $1 million . 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 5.4% for June 30, 2017 and December 31, 2016 .

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	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 2017, the Company completed two balance sheet risk mitigation actions related to certain non-U.S. pension plans. These actions included the purchase of non-participating annuity contracts from an insurance company and the payment of lump sums to retirees, which resulted in the settlement of liabilities to affected participants. As a result of these transactions, the Company recognized pension settlement losses of $30 million during the three and six months ended June 30, 2017. These losses are included in Other expenses, net on the Consolidated Statements of Earnings in our Corporate, Other and Eliminations category. These transactions did not have a material effect on the plans' funded status. The following tables provide information regarding pension expense recognized (in millions): Three Months Ended June 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 1 $ 1 $ 2 $ 1 $ 1 $ 2 Interest cost 10 4 14 11 5 16 Expected return on plan assets (15 ) (5 ) (20 ) (15 ) (6 ) (21 ) Amortization of actuarial loss 4 2 6 4 1 5 Settlement loss — 30 30 — — — Curtailment gain — — — — (6 ) (6 ) Contractual termination benefit — — — — 2 2 Net periodic pension cost $ — $ 32 $ 32 $ 1 $ (3 ) $ (2 ) Six Months Ended June 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 3 $ 2 $ 5 $ 3 $ 2 5 Interest cost 20 8 28 22 9 31 Expected return on plan assets (29 ) (11 ) (40 ) (29 ) (12 ) (41 ) Amortization of actuarial loss 7 3 10 7 2 9 Settlement loss — 30 30 — — — Curtailment gain — — — — (6 ) (6 ) Contractual termination benefit — — — — 2 2 Net periodic pension cost $ 1 $ 32 $ 33 $ 3 $ (3 ) $ — The Company expects to contribute approximately $50 million in cash to the U.S. pension plans and another $21 million to non-U.S. plans during 2017 . The Company made cash contributions of $16 million to the plans during the six months ended June 30, 2017 . 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 Six Months Ended 2017 2016 2017 2016 Components of Net Periodic Benefit Cost Service cost $ 1 $ — $ 2 $ 1 Interest cost 3 2 5 4 Amortization of prior service cost — (1 ) (1 ) (2 ) Amortization of actuarial loss 1 — — — Net periodic benefit cost $ 5 $ 1 $ 6 $ 3

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	6 Months Ended
	Jun. 30, 2017
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. Litigation Settlement Gain In May 2017, the Company and TopBuild Corp. entered into a settlement agreement in connection with a commercial breach of contract dispute from the second quarter of 2016. Under the terms of the settlement, TopBuild Corp. paid Owens Corning $30 million in cash in the second quarter of 2017. The settlement also resulted in the dismissal of the lawsuit filed in May 2016 in connection with the dispute. For the three and six months ended June 30, 2017, a $29 million litigation settlement gain, net of legal fees, was recorded in Other expenses, net on the Consolidated Statements of Earnings in the Corporate, Other and Eliminations category. 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 June 30, 2017 , the Company was involved with a total of 21 sites worldwide, including 8 Superfund sites and 13 owned or formerly owned sites. None of the liabilities for these sites are individually significant to the Company. Remediation activities generally involve a potential range of activities and costs related to soil and groundwater contamination. This can include pre-cleanup activities such as fact finding and investigation, risk assessment, feasibility studies, remedial action design and implementation (where actions may range from monitoring to removal of contaminants, to installation of longer-term remediation systems). A number of factors affect the cost of environmental remediation, including the number of parties involved in a particular site, the determination of the extent of contamination, the length of time the remediation may require, the complexity of environmental regulations, variability in clean-up standards, the need for legal action, and changes in remediation technology. Taking these factors into account, Owens Corning has predicted the costs of remediation reasonably estimated to be paid over a period of years. The Company accrues an amount on an undiscounted basis, consistent with the reasonable estimates of these costs when it is probable that a liability has been incurred. Actual cost may differ from these estimates for the reasons mentioned above. At June 30, 2017 , the Company had an accrual totaling $3 million for these costs. Changes in required remediation procedures or timing of those procedures, or discovery of contamination at additional sites, could result in material increases to the Company’s environmental obligations.

STOCK COMPENSATION

STOCK COMPENSATION	6 Months Ended
	Jun. 30, 2017
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 authorizes grants of stock options, stock appreciation rights, restricted stock awards, restricted stock units, bonus stock awards and performance stock awards. At June 30, 2017 , the number of shares remaining available under the 2016 Stock Plan for all stock awards was 3.2 million . Stock Options The Company did not grant any stock options during the six months ended June 30, 2017 . 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 both the three and six months ended June 30, 2017 , the Company recognized expense of less than $1 million and $1 million , respectively, related to the Company's stock options. During both the three and six months ended June 30, 2016 , the Company recognized expense of less than $1 million and $1 million , respectively, related to the Company's stock options. As of June 30, 2017 , there was $1 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 0.67 years. The total aggregate intrinsic value of options outstanding as of June 30, 2017 was $28 million . The following table summarizes the Company’s stock option activity: Six Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 975,400 $ 35.14 Exercised (107,950 ) 36.02 Forfeited (2,000 ) 37.65 Ending Balance 865,450 $ 35.02 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at June 30, 2017 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89 - $42.16 865,450 4.79 $ 35.02 796,500 4.63 $ 34.79 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 vesting period, which is is typically three or four years. The Stock Plan allows alternate vesting schedules for death, disability, and retirement over various periods ending in 2020. During the three and six months ended June 30, 2017 , the Company recognized expense of $5 million and $10 million , respectively, related to the Company's restricted stock. During the three and six months ended June 30, 2016 , the Company recognized expense of $5 million and $9 million , respectively, related to the Company's restricted stock. As of June 30, 2017 , there was $42 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.84 years. The total fair value of shares vested during the six months ended June 30, 2017 and 2016 was $18 million and $14 million , respectively. The following table summarizes the Company’s restricted stock activity: Six Months Ended June 30, 2017 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,800,557 $ 37.78 Granted 462,499 55.84 Vested (467,051 ) 39.01 Forfeited (33,063 ) 42.95 Ending Balance 1,762,942 $ 42.02 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 six months ended June 30, 2017 , 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 each year's award design and 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 companies constituting the former 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 2017 uses various assumptions that include expected volatility of 26.1% , and a risk free interest rate of 1.4% , both of which were based on an expected term of 2.92 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 six months ended June 30, 2017 , the Company recognized expense of $3 million and $8 million , respectively, related to PSUs. During the three and six months ended June 30, 2016 , the Company recognized expense of $3 million and $5 million , respectively, related to the Company's PSUs. As of June 30, 2017 , there was $22 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.88 years. The following table summarizes the Company’s PSU activity: Six Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 472,300 $ 47.19 Granted 221,050 59.71 Forfeited (8,052 ) 45.93 Ending Balance 685,298 $ 51.24 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, 2.0 million shares were available for purchase under the ESPP. As of June 30, 2017 , 1.1 million shares remain available for purchase. During the three and six months ended June 30, 2017 , the Company recognized expense of $1 million and $2 million , respectively, related to the Company's ESPP. During the three and six months ended June 30, 2016 , the Company recognized expense of less than $1 million and $1 million , respectively, related to the Company's ESPP. As of June 30, 2017 , there was $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended 2017 2016 2017 2016 Net earnings attributable to Owens Corning $ 96 $ 138 $ 197 $ 195 Weighted-average number of shares outstanding used for basic earnings per share 111.6 115.1 112.0 115.3 Non-vested restricted and performance shares 1.2 0.8 1.2 0.8 Options to purchase common stock 0.3 0.5 0.3 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 113.1 116.4 113.5 116.5 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.86 $ 1.20 $ 1.76 $ 1.69 Diluted $ 0.85 $ 1.19 $ 1.74 $ 1.67 On October 24, 2016, the Board of Directors approved a share buy-back program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and is at the Company’s discretion. The Company repurchased 2.0 million shares of its common stock for $121 million during the six months ended June 30, 2017 under the Repurchase Authorization. As of June 30, 2017 , 7.8 million shares remain available for repurchase under the Repurchase Authorization. For the three and six months ended June 30, 2017 , we did not have any non-vested performance shares that had an anti-dilutive effect on earnings per share. For the three and six months ended June 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.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Jun. 30, 2017
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, 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 June 30, 2017 (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 $ 4 $ — $ 4 $ — Liabilities: Derivative liabilities $ 13 $ — $ 13 $ — 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, 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 $ 16 $ — $ 16 $ — Liabilities: Derivative liabilities $ 2 $ — $ 2 $ — 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: June 30, 2017 December 31, 2016 9.00% senior notes, net of discount and financing fees, due 2019 113 % 114 % 4.20% senior notes, net of discount and financing fees, due 2022 106 % 104 % 4.20% senior notes, net of discount and financing fees, due 2024 105 % 102 % 3.40% senior notes, net of discount and financing fees, due 2026 99 % 95 % 7.00% senior notes, net of discount and financing fees, due 2036 133 % 118 % 4.30% senior notes, net of discount and financing fees, due 2047 96 % — % The Company determined that the book value of the remaining long-term debt instruments approximates fair value.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Income tax expense $ 67 $ 73 $ 110 $ 107 Effective tax rate 41 % 35 % 36 % 35 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and six months ended June 30, 2017 is primarily due to U.S. state and local income tax expense, the benefit of lower foreign tax rates and other discrete adjustments. There was no difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and six months ended June 30, 2016 .

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT The following table summarizes the changes in accumulated other comprehensive income (deficit) (“AOCI”) (in millions): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Currency Translation Adjustment Beginning balance $ (248 ) $ (213 ) $ (284 ) $ (247 ) Net investment hedge amounts classified into AOCI, net of tax (9 ) 5 (9 ) (2 ) Gain (loss) on foreign currency translation 38 (18 ) 74 23 Other comprehensive income/(loss), net of tax 29 (13 ) 65 21 Ending balance $ (219 ) $ (226 ) $ (219 ) $ (226 ) Pension and Other Postretirement Adjustment Beginning balance $ (429 ) $ (409 ) $ (429 ) $ (419 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 17 (2 ) 18 — Amounts classified into AOCI, net of tax (3 ) 2 (4 ) 10 Other comprehensive income, net of tax 14 — 14 10 Ending balance $ (415 ) $ (409 ) $ (415 ) $ (409 ) Hedging Adjustment Beginning balance $ 1 $ (3 ) $ 3 $ (4 ) Amounts reclassified from AOCI to net earnings, net of tax (b) — 1 (1 ) 4 Amounts classified into AOCI, net of tax (1 ) 2 (2 ) — Other comprehensive (loss)/income, net of tax (1 ) 3 (3 ) 4 Ending balance $ — $ — $ — $ — Total AOCI ending balance $ (634 ) $ (635 ) $ (634 ) $ (635 ) (a) These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in Cost of sales, Marketing and administrative expenses and Other expenses, net. See Note 11 for additional information. (b) Amounts reclassified from (loss)/gain 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	6 Months Ended
	Jun. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
ACCOUNTING PRONOUNCEMENTS	ACCOUNTING PRONOUNCEMENTS The 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, 2016-12, 2016-20 and 2017-05. 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. We expect to complete our assessment in the second half of 2017 and plan to use the modified-retrospective method of adoption. Many of our customer volume commitments are short-term (as explained on pg. 5 of the Risk Factors disclosed in Item 1A of our 2016 Form 10-K) and contain single performance obligations. As a result, we do not expect many elements of this standard to be applicable to our business model. Under our current accounting policy (as described in Note 1 of our 2016 Form 10-K), we recognize revenue when title and risk of loss pass to the customer and collectability is reasonably assured, and we estimate variable consideration based on historical experience, current conditions and contractual obligations. We believe our current variable consideration estimates are largely consistent with the new standard, but we are still analyzing potential quarterly timing differences for our consignment sales arrangements and customized products manufactured for customers. We are also still assessing the standard's new disclosure requirements, including the disaggregation of segment revenue. 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 potential impact of this standard adoption on our financial reporting processes and disclosures. We believe that our adoption of the standard will likely have a material impact to our Consolidated Balance Sheets for the recognition of certain operating leases as right-of-use assets and lease liabilities. (Our operating lease obligations are described in Note 8 of our 2016 Form 10-K). We are in the process of analyzing our lease portfolio and implementing systems to comply with the standard's retrospective adoption requirements. 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. Our current accounts receivable policy (as described in Note 1 of our 2016 Form 10-K) uses historical and current information to estimate the amount of probable credit losses in our existing accounts receivable. We have not yet analyzed our current systems and methods to determine the impact of using forward-looking information to estimate expected credit losses. ASU 2016-16 "Income Taxes (Topic 740)" This standard clarifies that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018 We are currently assessing the impact this standard will have on our Consolidated Financial Statements. ASU 2017-07 "Compensation - Retirement Benefits (Topic 715)" This standard requires that the other components of net benefit cost be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. Entities will adopt the presentation elements of this standard on a retrospective basis. January 1, 2018 We do not expect that the adoption of this standard will have a material effect on our Consolidated Financial Statements on an ongoing basis. The standard's retrospective adoption, though, will likely have a significant impact on the classifications in our 2017 Consolidated Statements of Earnings, mainly due to pension settlement losses that were recorded in the second quarter of 2017 (as described in Note 11 of the Consolidated Financial Statements).

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	CONDENSED CONSOLIDATING 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. 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. 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 “Non-Guarantor Subsidiaries”). OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,171 $ 544 $ (118 ) $ 1,597 COST OF SALES — 881 425 (118 ) 1,188 Gross margin — 290 119 — 409 OPERATING EXPENSES Marketing and administrative expenses 38 86 31 — 155 Science and technology expenses — 18 3 — 21 Other expenses, net 4 (39 ) 78 — 43 Total operating expenses 42 65 112 — 219 EARNINGS BEFORE INTEREST AND TAXES (42 ) 225 7 — 190 Interest expense, net 24 — 3 — 27 EARNINGS BEFORE TAXES (66 ) 225 4 — 163 Income tax expense (27 ) 82 12 — 67 Equity in net earnings of subsidiaries 135 (8 ) — (127 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 96 135 (8 ) (127 ) 96 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 96 $ 135 $ (8 ) $ (127 ) $ 96 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,090 $ 567 $ (112 ) $ 1,545 COST OF SALES 1 821 419 (112 ) 1,129 Gross margin (1 ) 269 148 — 416 OPERATING EXPENSES Marketing and administrative expenses 35 81 35 — 151 Science and technology expenses — 17 4 — 21 Other expenses, net (1 ) 23 (18 ) — 4 Total operating expenses 34 121 21 — 176 EARNINGS BEFORE INTEREST AND TAXES (35 ) 148 127 — 240 Interest expense, net 24 (1 ) 6 — 29 EARNINGS BEFORE TAXES (59 ) 149 121 — 211 Income tax expense (31 ) 71 33 — 73 Equity in net earnings of subsidiaries 166 88 — (254 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 138 166 89 (254 ) 139 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 138 $ 166 $ 88 $ (254 ) $ 138 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,265 $ 1,055 $ (245 ) $ 3,075 COST OF SALES 1 1,747 820 (245 ) 2,323 Gross margin (1 ) 518 235 — 752 OPERATING EXPENSES Marketing and administrative expenses 74 163 60 — 297 Science and technology expenses — 35 7 — 42 Other expenses, net 2 (30 ) 81 — 53 Total operating expenses 76 168 148 — 392 EARNINGS BEFORE INTEREST AND TAXES (77 ) 350 87 — 360 Interest expense, net 47 — 6 — 53 EARNINGS BEFORE TAXES (124 ) 350 81 — 307 Income tax expense (55 ) 132 33 — 110 Equity in net earnings of subsidiaries 266 48 — (314 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 197 266 48 (314 ) 197 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 197 $ 266 $ 48 $ (314 ) $ 197 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,977 $ 1,025 $ (226 ) $ 2,776 COST OF SALES 2 1,551 761 (226 ) 2,088 Gross margin (2 ) 426 264 — 688 OPERATING EXPENSES Marketing and administrative expenses 68 153 64 — 285 Science and technology expenses — 33 7 — 40 Other expenses, net (3 ) 35 (25 ) — 7 Total operating expenses 65 221 46 — 332 EARNINGS BEFORE INTEREST AND TAXES (67 ) 205 218 — 356 Interest expense, net 46 (1 ) 7 — 52 EARNINGS BEFORE TAXES (113 ) 206 211 — 304 Income tax expense (50 ) 95 62 — 107 Equity in net earnings of subsidiaries 258 147 — (405 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 195 258 150 (405 ) 198 Net earnings attributable to noncontrolling interests — — 3 — 3 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 195 $ 258 $ 147 $ (405 ) $ 195 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 96 $ 135 $ (8 ) $ (127 ) $ 96 Currency translation adjustment (net of tax) 29 — 37 (37 ) 29 Pension and other postretirement adjustment (net of tax) 14 (2 ) 16 (14 ) 14 Hedging adjustment (net of tax) (1 ) — — — (1 ) COMPREHENSIVE EARNINGS 138 133 45 (178 ) 138 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 138 $ 133 $ 45 $ (178 ) $ 138 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 138 $ 166 $ 89 $ (254 ) $ 139 Currency translation adjustment (net of tax) (13 ) (3 ) (17 ) 20 (13 ) Pension and other postretirement adjustment (net of tax) — 23 (2 ) (21 ) — Hedging adjustment (net of tax) 3 — 2 (2 ) 3 COMPREHENSIVE EARNINGS 128 186 72 (257 ) 129 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 128 $ 186 $ 71 $ (257 ) $ 128 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 197 $ 266 $ 48 $ (314 ) $ 197 Currency translation adjustment (net of tax) 65 1 73 (74 ) 65 Pension and other postretirement adjustment (net of tax) 14 (3 ) 14 (11 ) 14 Hedging adjustment (net of tax) (3 ) — — — (3 ) COMPREHENSIVE EARNINGS 273 264 135 (399 ) 273 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 273 $ 264 $ 135 $ (399 ) $ 273 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 195 $ 258 $ 150 $ (405 ) $ 198 Currency translation adjustment (net of tax) 21 (4 ) 26 (22 ) 21 Pension and other postretirement adjustment (net of tax) 10 22 1 (23 ) 10 Hedging adjustment (net of tax) 4 1 1 (2 ) 4 COMPREHENSIVE EARNINGS 230 277 178 (452 ) 233 Comprehensive earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 230 $ 277 $ 175 $ (452 ) $ 230 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2017 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 58 $ 141 $ — $ 199 Receivables, net — — 915 — 915 Due from affiliates — 2,822 — (2,822 ) — Inventories — 435 357 — 792 Assets held for sale — — 10 — 10 Other current assets 18 29 25 — 72 Total current assets 18 3,344 1,448 (2,822 ) 1,988 Investment in subsidiaries 8,460 2,135 — (10,595 ) — Property, plant and equipment, net 468 1,619 1,249 — 3,336 Goodwill — 1,159 325 — 1,484 Intangible assets, net — 1,027 413 (79 ) 1,361 Deferred income taxes (38 ) 293 66 — 321 Other non-current assets 11 64 125 — 200 TOTAL ASSETS $ 8,919 $ 9,641 $ 3,626 $ (13,496 ) $ 8,690 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 72 $ 794 $ 247 $ — $ 1,113 Due to affiliates 1,933 — 889 (2,822 ) — Long-term debt – current portion — 2 1 — 3 Total current liabilities 2,005 796 1,137 (2,822 ) 1,116 Long-term debt, net of current portion 2,658 11 17 — 2,686 Pension plan liability 239 — 133 — 372 Other employee benefits liability — 205 35 — 240 Deferred income taxes — — 75 — 75 Other liabilities 41 169 55 (79 ) 186 Redeemable equity — — — — — OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,976 8,460 2,135 (10,595 ) 3,976 Noncontrolling interests — — 39 — 39 Total equity 3,976 8,460 2,174 (10,595 ) 4,015 TOTAL LIABILITIES AND EQUITY $ 8,919 $ 9,641 $ 3,626 $ (13,496 ) $ 8,690 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 55 $ 57 $ — $ 112 Receivables, net — — 678 — 678 Due from affiliates — 2,612 — (2,612 ) — Inventories — 422 288 — 710 Assets held for sale — 3 9 — 12 Other current assets 24 26 24 — 74 Total current assets 24 3,118 1,056 (2,612 ) 1,586 Investment in subsidiaries 7,745 1,653 — (9,398 ) — Property, plant and equipment, net 470 1,600 1,042 — 3,112 Goodwill — 1,159 177 — 1,336 Intangible assets, net — 1,038 217 (117 ) 1,138 Deferred income taxes (42 ) 360 57 — 375 Other non-current assets 19 64 111 — 194 TOTAL ASSETS $ 8,216 $ 8,992 $ 2,660 $ (12,127 ) $ 7,741 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 75 $ 832 $ 53 $ — $ 960 Due to affiliates 1,941 — 671 (2,612 ) — Long-term debt – current portion — 2 1 — 3 Total current liabilities 2,016 834 725 (2,612 ) 963 Long-term debt, net of current portion 2,069 12 18 — 2,099 Pension plan liability 244 — 123 — 367 Other employee benefits liability — 208 13 — 221 Deferred income taxes — — 36 — 36 Other liabilities 38 193 50 (117 ) 164 Redeemable equity — — 2 — 2 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,849 7,745 1,653 (9,398 ) 3,849 Noncontrolling interests — — 40 — 40 Total equity 3,849 7,745 1,693 (9,398 ) 3,889 TOTAL LIABILITIES AND EQUITY $ 8,216 $ 8,992 $ 2,660 $ (12,127 ) $ 7,741 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (55 ) $ 125 $ 322 $ — $ 392 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (8 ) (129 ) (33 ) — (170 ) Proceeds from the sale of assets or affiliates — 3 — — 3 Investment in subsidiaries and affiliates, net of cash acquired — (362 ) (199 ) — (561 ) Other 3 — — — 3 Net cash flow used for investing activities (5 ) (488 ) (232 ) — (725 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 588 — — — 588 Proceeds from senior revolving credit and receivables securitization facilities — — 337 — 337 Proceeds from term loan borrowing — — — — — Payments on senior revolving credit and receivables securitization facilities — — (337 ) — (337 ) Net decrease in short-term debt — — — — — Dividends paid (45 ) — — — (45 ) Purchases of treasury stock (134 ) — — — (134 ) Intercompany dividends paid — — — — — Other intercompany loans (352 ) 366 (14 ) — — Other 3 — — — 3 Net cash flow provided by financing activities 60 366 (14 ) — 412 Effect of exchange rate changes on cash — — 9 — 9 Net increase (decrease) in cash, cash equivalents and restricted cash — 3 85 — 88 Cash, cash equivalents and restricted cash at beginning of period 6 55 57 — 118 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 6 $ 58 $ 142 $ — $ 206 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (59 ) $ 225 $ 171 $ (11 ) $ 326 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (10 ) (125 ) (52 ) — (187 ) Proceeds from the sale of assets or affiliates — — — — — Investment in subsidiaries and affiliates, net of cash acquired — — (450 ) — (450 ) Other 2 — — — 2 Net cash flow used for investing activities (8 ) (125 ) (502 ) — (635 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt — — — — — Proceeds from senior revolving credit and receivables securitization facilities — — 434 — 434 Proceeds from term loan borrowing 300 — — — 300 Payments on senior revolving credit and receivables securitization facilities — — (326 ) — (326 ) Net decrease in short-term debt — — (6 ) — (6 ) Dividends paid (40 ) — — — (40 ) Purchases of treasury stock (87 ) — — — (87 ) Intercompany dividends paid — — (11 ) 11 — Other intercompany loans (110 ) (148 ) 258 — — Other 4 — — — 4 Net cash flow provided by financing activities 67 (148 ) 349 11 279 Effect of exchange rate changes on cash — — 1 — 1 Net increase (decrease) in cash, cash equivalents and restricted cash — (48 ) 19 — (29 ) Cash, cash equivalents and restricted cash at beginning of period — 48 48 — 96 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ — $ — $ 67 $ — $ 67

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 537 $ 517 $ 1,048 $ 990 Insulation 439 414 838 799 Roofing 684 679 1,311 1,108 Total reportable segments 1,660 1,610 3,197 2,897 Corporate eliminations (63 ) (65 ) (122 ) (121 ) NET SALES $ 1,597 $ 1,545 $ 3,075 $ 2,776
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 1,139 $ 1,097 $ 2,190 $ 1,942 Europe 147 152 287 286 Asia Pacific 185 174 338 319 Other 126 122 260 229 NET SALES $ 1,597 $ 1,545 $ 3,075 $ 2,776
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended Six Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 84 $ 74 $ 155 $ 138 Insulation 29 32 34 45 Roofing 155 169 280 242 Total reportable segments 268 275 469 425 Restructuring costs (29 ) (3 ) (29 ) (3 ) Acquisition-related costs (10 ) (2 ) (11 ) (4 ) Recognition of InterWrap inventory fair value step-up — (8 ) — (8 ) Litigation settlement gain, net of legal fees 29 — 29 — Pension settlement losses (30 ) — (30 ) — General corporate expense and other (38 ) (22 ) (68 ) (54 ) EBIT $ 190 $ 240 $ 360 $ 356

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): June 30, 2017 December 31, 2016 Finished goods $ 521 $ 482 Materials and supplies 271 228 Total inventories $ 792 $ 710

DERIVATIVE FINANCIAL INSTRUME29

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 December 31, 2016 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 $ 3 $ 18 Cash flow hedges: Natural gas forward swaps Other current assets $ — $ 4 Amount of gain recognized in OCI (effective portion) OCI $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges: Cross currency swaps Other liabilities $ 10 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ 1 $ — Amount of loss recognized in OCI related to natural gas forward swaps (effective portion) OCI $ 1 $ — Amount of loss recognized in OCI related to treasury interest rate lock (effective portion) OCI $ 1 $ 1 Derivative assets not designated as hedging instruments: Natural gas forward swaps Other current assets $ — $ 1 Foreign exchange contracts Other current assets $ — $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities $ 2 $ 2
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 Six Months Ended Location 2017 2016 2017 2016 Derivative activity designated as hedging instruments: Natural gas: Amount of (gain)/loss reclassified from OCI into earnings (effective portion) Cost of sales $ (1 ) $ 3 $ (2 ) $ 6 Foreign currency: Amount of loss reclassified from OCI into earnings (effective portion) Other expenses, net $ — $ — $ — $ 1 Interest rate: Amount of loss recognized in earnings Interest expense, net $ 1 $ — $ 1 $ 1 Derivative activity not designated as hedging instruments: Natural gas: Amount of loss/(gain) recognized in earnings Other expenses, net $ 1 $ — $ 1 $ (1 ) Foreign currency: Amount of loss recognized in earnings (a) Other expenses, net $ 4 $ 3 $ 4 $ 6 (a) Losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses, net .
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table presents the notional amount of derivatives and hedging instruments on the Consolidated Balance Sheet (in millions): Notional Amount Unit of Measure June 30, 2017 Net investment hedges: Cross currency swaps U.S. Dollars $ 250 Cash flow hedges: Natural gas forward swaps U.S. indices MMBtu 8 Natural gas forward swaps European indices MMBtu (equivalent) 2

GOODWILL AND OTHER INTANGIBLE30

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-lived Intangible Assets Amortization Expense	Intangible assets and goodwill consist of the following (in millions): June 30, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 19 $ 374 $ (100 ) $ 274 Technology 18 231 (109 ) 122 Other 9 45 (24 ) 21 Indefinite-lived intangible assets: Trademarks 944 — 944 Total intangible assets $ 1,594 $ (233 ) $ 1,361 Goodwill $ 1,484 December 31, 2016 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 22 $ 252 $ (94 ) $ 158 Technology 19 216 (103 ) 113 Other 9 45 (23 ) 22 Indefinite-lived intangible assets: Trademarks 845 — 845 Total intangible assets $ 1,358 $ (220 ) $ 1,138 Goodwill $ 1,336 The following table details the identifiable indefinite and definite-lived intangible assets acquired, their preliminary fair values and estimated weighted average useful lives (in millions): Type of Intangible Asset Preliminary Fair Value Weighted Average Useful Life Customer relationships $ 121 15 Technology 15 11 Trademarks 99 indefinite Total $ 235
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 Trademarks Other Total Balance at December 31, 2016 $ 252 $ 216 $ 845 $ 45 $ 1,358 Acquisitions (see Note 7) 121 15 99 — 235 Foreign Currency Translation 1 — — — 1 Balance at June 30, 2017 $ 374 $ 231 $ 944 $ 45 $ 1,594
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, 2016 $ 55 $ 888 $ 393 $ 1,336 Acquisitions (see Note 7) — 143 — 143 Foreign currency translation 1 — 4 5 Balance at June 30, 2017 $ 56 $ 1,031 $ 397 $ 1,484

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): June 30, December 31, 2016 Land $ 201 $ 189 Buildings and leasehold improvements 978 874 Machinery and equipment 4,039 3,818 Construction in progress 285 250 5,503 5,131 Accumulated depreciation (2,167 ) (2,019 ) Property, plant and equipment, net $ 3,336 $ 3,112

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Finite-lived Intangible Assets Amortization Expense	Intangible assets and goodwill consist of the following (in millions): June 30, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 19 $ 374 $ (100 ) $ 274 Technology 18 231 (109 ) 122 Other 9 45 (24 ) 21 Indefinite-lived intangible assets: Trademarks 944 — 944 Total intangible assets $ 1,594 $ (233 ) $ 1,361 Goodwill $ 1,484 December 31, 2016 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 22 $ 252 $ (94 ) $ 158 Technology 19 216 (103 ) 113 Other 9 45 (23 ) 22 Indefinite-lived intangible assets: Trademarks 845 — 845 Total intangible assets $ 1,358 $ (220 ) $ 1,138 Goodwill $ 1,336 The following table details the identifiable indefinite and definite-lived intangible assets acquired, their preliminary fair values and estimated weighted average useful lives (in millions): Type of Intangible Asset Preliminary Fair Value Weighted Average Useful Life Customer relationships $ 121 15 Technology 15 11 Trademarks 99 indefinite Total $ 235

WARRANTIES (Tables)

WARRANTIES (Tables)	6 Months Ended
	Jun. 30, 2017
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): Six Months Ended June 30, 2017 Beginning balance $ 52 Amounts accrued for current year 10 Settlements of warranty claims (8 ) Ending balance $ 54

ACQUISITION-RELATED COSTS (Tabl

ACQUISITION-RELATED COSTS (Tables)	6 Months Ended
	Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Acquisition-Related Costs During the first six months of 2017 , the Company incurred $11 million of transaction and integration costs related to its announced acquisitions. Please refer to Note 7 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded in the Corporate, Other and Eliminations category. See Restructuring Costs section below for detail on additional costs related to these acquisitions. The following table presents the impact and respective location of acquisition-related costs for the six months of 2017 on the Consolidated Statements of Earnings (in millions): Location InterWrap Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 1 $ 1 $ 2 Other expenses, net — 9 9 Total acquisition-related costs $ 1 $ 10 $ 11
Schedule of Restructuring Costs on the Consolidated Statements of Earnings	Consolidated Statements of Earnings Classification The following table presents the impact and respective location of total restructuring costs on the Consolidated Statements of Earnings, which are included in our Corporate, Other and Eliminations category (in millions): Three Months Ended Six Months Ended Type of cost Location 2017 2016 2017 2016 Accelerated depreciation Cost of sales $ 2 $ 1 $ 2 $ 1 Other exit costs Cost of sales 2 2 2 2 Severance Other expenses, net 25 — 25 — Total restructuring costs $ 29 $ 3 $ 29 $ 3
Cost Reduction Actions 2014
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	Summary of Unpaid Liabilities The following table summarizes the status of the unpaid liabilities from the Company's restructuring activity (in millions): 2017 Cost Reduction Actions Pittsburgh Corning Acquisition-Related Restructuring 2016 Cost Reduction Actions InterWrap Acquisition-Related Restructuring 2014 Cost Reduction Actions Total Balance at December 31, 2016 $ — $ — $ 1 $ — $ 1 $ 2 Restructuring costs 13 14 1 1 — 29 Non-cash items (2 ) — (1 ) (1 ) — (4 ) Balance at June 30, 2017 $ 11 $ 14 $ 1 $ — $ 1 $ 27 Cumulative charges incurred $ 13 $ 14 $ 19 $ 4 $ 45 $ 95 As of June 30, 2017 , the remaining liability balance is comprised of $27 million of severance, inclusive of $6 million of long-term severance and $21 million of severance the Company expects to pay over the next twelve months.

DEBT DEBT (Tables)

DEBT DEBT (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Details of the Company’s outstanding long-term debt are as follows (in millions): June 30, 2017 December 31, 2016 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 597 596 4.20% senior notes, net of discount and financing fees, due 2024 391 391 3.40% senior notes, net of discount and financing fees, due 2026 395 395 7.00% senior notes, net of discount and financing fees, due 2036 537 536 4.30% senior notes, net of discount and financing fees, due 2047 588 — Various capital leases, due through and beyond 2050 31 33 Fair value adjustment to debt 7 8 Total long-term debt 2,689 2,102 Less – current portion 3 3 Long-term debt, net of current portion $ 2,686 $ 2,099
Schedule of Line of Credit Facilities	The following table shows how the Company utilized its primary sources of liquidity (in millions): As of June 30, 2017 Senior Revolving Credit Facility Receivables Securitization Facility Term Loan Commitment (a) Facility size or borrowing limit $ 800 $ 250 $ 350 Borrowings — — — Outstanding letters of credit 9 2 n/a Availability on facility $ 791 $ 248 $ 350 (a) On July 24, 2017, the Company provided formal notification of its intent to voluntarily reduce the entire Term Loan Commitment, thus eliminating the availability of credit under the facility effective on July 31, 2017.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2017
Pension Plan
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 June 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 1 $ 1 $ 2 $ 1 $ 1 $ 2 Interest cost 10 4 14 11 5 16 Expected return on plan assets (15 ) (5 ) (20 ) (15 ) (6 ) (21 ) Amortization of actuarial loss 4 2 6 4 1 5 Settlement loss — 30 30 — — — Curtailment gain — — — — (6 ) (6 ) Contractual termination benefit — — — — 2 2 Net periodic pension cost $ — $ 32 $ 32 $ 1 $ (3 ) $ (2 ) Six Months Ended June 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 3 $ 2 $ 5 $ 3 $ 2 5 Interest cost 20 8 28 22 9 31 Expected return on plan assets (29 ) (11 ) (40 ) (29 ) (12 ) (41 ) Amortization of actuarial loss 7 3 10 7 2 9 Settlement loss — 30 30 — — — Curtailment gain — — — — (6 ) (6 ) Contractual termination benefit — — — — 2 2 Net periodic pension cost $ 1 $ 32 $ 33 $ 3 $ (3 ) $ —
Other Postretirement Benefits Plan
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 Six Months Ended 2017 2016 2017 2016 Components of Net Periodic Benefit Cost Service cost $ 1 $ — $ 2 $ 1 Interest cost 3 2 5 4 Amortization of prior service cost — (1 ) (1 ) (2 ) Amortization of actuarial loss 1 — — — Net periodic benefit cost $ 5 $ 1 $ 6 $ 3

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2017
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: Six Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 975,400 $ 35.14 Exercised (107,950 ) 36.02 Forfeited (2,000 ) 37.65 Ending Balance 865,450 $ 35.02
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 June 30, 2017 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89 - $42.16 865,450 4.79 $ 35.02 796,500 4.63 $ 34.79
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the Company’s restricted stock activity: Six Months Ended June 30, 2017 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,800,557 $ 37.78 Granted 462,499 55.84 Vested (467,051 ) 39.01 Forfeited (33,063 ) 42.95 Ending Balance 1,762,942 $ 42.02
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest	The following table summarizes the Company’s PSU activity: Six Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 472,300 $ 47.19 Granted 221,050 59.71 Forfeited (8,052 ) 45.93 Ending Balance 685,298 $ 51.24

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended 2017 2016 2017 2016 Net earnings attributable to Owens Corning $ 96 $ 138 $ 197 $ 195 Weighted-average number of shares outstanding used for basic earnings per share 111.6 115.1 112.0 115.3 Non-vested restricted and performance shares 1.2 0.8 1.2 0.8 Options to purchase common stock 0.3 0.5 0.3 0.4 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 113.1 116.4 113.5 116.5 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.86 $ 1.20 $ 1.76 $ 1.69 Diluted $ 0.85 $ 1.19 $ 1.74 $ 1.67

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
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 June 30, 2017 (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 $ 4 $ — $ 4 $ — Liabilities: Derivative liabilities $ 13 $ — $ 13 $ — 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, 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 $ 16 $ — $ 16 $ — Liabilities: Derivative liabilities $ 2 $ — $ 2 $ —
Fair Value of Long Term Debt	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: June 30, 2017 December 31, 2016 9.00% senior notes, net of discount and financing fees, due 2019 113 % 114 % 4.20% senior notes, net of discount and financing fees, due 2022 106 % 104 % 4.20% senior notes, net of discount and financing fees, due 2024 105 % 102 % 3.40% senior notes, net of discount and financing fees, due 2026 99 % 95 % 7.00% senior notes, net of discount and financing fees, due 2036 133 % 118 % 4.30% senior notes, net of discount and financing fees, due 2047 96 % — %

INCOME TAXES INCOME TAXES (Tabl

INCOME TAXES INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The following table provides the Income tax expense (in millions) and effective tax rate for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Income tax expense $ 67 $ 73 $ 110 $ 107 Effective tax rate 41 % 35 % 36 % 35 %

CHANGES IN ACCUMULATED OTHER 41

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT (Tables)	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended June 30, June 30, 2017 2016 2017 2016 Currency Translation Adjustment Beginning balance $ (248 ) $ (213 ) $ (284 ) $ (247 ) Net investment hedge amounts classified into AOCI, net of tax (9 ) 5 (9 ) (2 ) Gain (loss) on foreign currency translation 38 (18 ) 74 23 Other comprehensive income/(loss), net of tax 29 (13 ) 65 21 Ending balance $ (219 ) $ (226 ) $ (219 ) $ (226 ) Pension and Other Postretirement Adjustment Beginning balance $ (429 ) $ (409 ) $ (429 ) $ (419 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 17 (2 ) 18 — Amounts classified into AOCI, net of tax (3 ) 2 (4 ) 10 Other comprehensive income, net of tax 14 — 14 10 Ending balance $ (415 ) $ (409 ) $ (415 ) $ (409 ) Hedging Adjustment Beginning balance $ 1 $ (3 ) $ 3 $ (4 ) Amounts reclassified from AOCI to net earnings, net of tax (b) — 1 (1 ) 4 Amounts classified into AOCI, net of tax (1 ) 2 (2 ) — Other comprehensive (loss)/income, net of tax (1 ) 3 (3 ) 4 Ending balance $ — $ — $ — $ — Total AOCI ending balance $ (634 ) $ (635 ) $ (634 ) $ (635 ) (a) These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in Cost of sales, Marketing and administrative expenses and Other expenses, net. See Note 11 for additional information. (b) Amounts reclassified from (loss)/gain 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)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statement of Earnings	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,171 $ 544 $ (118 ) $ 1,597 COST OF SALES — 881 425 (118 ) 1,188 Gross margin — 290 119 — 409 OPERATING EXPENSES Marketing and administrative expenses 38 86 31 — 155 Science and technology expenses — 18 3 — 21 Other expenses, net 4 (39 ) 78 — 43 Total operating expenses 42 65 112 — 219 EARNINGS BEFORE INTEREST AND TAXES (42 ) 225 7 — 190 Interest expense, net 24 — 3 — 27 EARNINGS BEFORE TAXES (66 ) 225 4 — 163 Income tax expense (27 ) 82 12 — 67 Equity in net earnings of subsidiaries 135 (8 ) — (127 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 96 135 (8 ) (127 ) 96 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 96 $ 135 $ (8 ) $ (127 ) $ 96 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 2,265 $ 1,055 $ (245 ) $ 3,075 COST OF SALES 1 1,747 820 (245 ) 2,323 Gross margin (1 ) 518 235 — 752 OPERATING EXPENSES Marketing and administrative expenses 74 163 60 — 297 Science and technology expenses — 35 7 — 42 Other expenses, net 2 (30 ) 81 — 53 Total operating expenses 76 168 148 — 392 EARNINGS BEFORE INTEREST AND TAXES (77 ) 350 87 — 360 Interest expense, net 47 — 6 — 53 EARNINGS BEFORE TAXES (124 ) 350 81 — 307 Income tax expense (55 ) 132 33 — 110 Equity in net earnings of subsidiaries 266 48 — (314 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 197 266 48 (314 ) 197 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 197 $ 266 $ 48 $ (314 ) $ 197 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,090 $ 567 $ (112 ) $ 1,545 COST OF SALES 1 821 419 (112 ) 1,129 Gross margin (1 ) 269 148 — 416 OPERATING EXPENSES Marketing and administrative expenses 35 81 35 — 151 Science and technology expenses — 17 4 — 21 Other expenses, net (1 ) 23 (18 ) — 4 Total operating expenses 34 121 21 — 176 EARNINGS BEFORE INTEREST AND TAXES (35 ) 148 127 — 240 Interest expense, net 24 (1 ) 6 — 29 EARNINGS BEFORE TAXES (59 ) 149 121 — 211 Income tax expense (31 ) 71 33 — 73 Equity in net earnings of subsidiaries 166 88 — (254 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 138 166 89 (254 ) 139 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 138 $ 166 $ 88 $ (254 ) $ 138	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,977 $ 1,025 $ (226 ) $ 2,776 COST OF SALES 2 1,551 761 (226 ) 2,088 Gross margin (2 ) 426 264 — 688 OPERATING EXPENSES Marketing and administrative expenses 68 153 64 — 285 Science and technology expenses — 33 7 — 40 Other expenses, net (3 ) 35 (25 ) — 7 Total operating expenses 65 221 46 — 332 EARNINGS BEFORE INTEREST AND TAXES (67 ) 205 218 — 356 Interest expense, net 46 (1 ) 7 — 52 EARNINGS BEFORE TAXES (113 ) 206 211 — 304 Income tax expense (50 ) 95 62 — 107 Equity in net earnings of subsidiaries 258 147 — (405 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 195 258 150 (405 ) 198 Net earnings attributable to noncontrolling interests — — 3 — 3 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 195 $ 258 $ 147 $ (405 ) $ 195
Condensed Consolidating Statement Of Comprehensive Earnings	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 197 $ 266 $ 48 $ (314 ) $ 197 Currency translation adjustment (net of tax) 65 1 73 (74 ) 65 Pension and other postretirement adjustment (net of tax) 14 (3 ) 14 (11 ) 14 Hedging adjustment (net of tax) (3 ) — — — (3 ) COMPREHENSIVE EARNINGS 273 264 135 (399 ) 273 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 273 $ 264 $ 135 $ (399 ) $ 273 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 138 $ 166 $ 89 $ (254 ) $ 139 Currency translation adjustment (net of tax) (13 ) (3 ) (17 ) 20 (13 ) Pension and other postretirement adjustment (net of tax) — 23 (2 ) (21 ) — Hedging adjustment (net of tax) 3 — 2 (2 ) 3 COMPREHENSIVE EARNINGS 128 186 72 (257 ) 129 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 128 $ 186 $ 71 $ (257 ) $ 128 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 96 $ 135 $ (8 ) $ (127 ) $ 96 Currency translation adjustment (net of tax) 29 — 37 (37 ) 29 Pension and other postretirement adjustment (net of tax) 14 (2 ) 16 (14 ) 14 Hedging adjustment (net of tax) (1 ) — — — (1 ) COMPREHENSIVE EARNINGS 138 133 45 (178 ) 138 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 138 $ 133 $ 45 $ (178 ) $ 138	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 195 $ 258 $ 150 $ (405 ) $ 198 Currency translation adjustment (net of tax) 21 (4 ) 26 (22 ) 21 Pension and other postretirement adjustment (net of tax) 10 22 1 (23 ) 10 Hedging adjustment (net of tax) 4 1 1 (2 ) 4 COMPREHENSIVE EARNINGS 230 277 178 (452 ) 233 Comprehensive earnings attributable to noncontrolling interests — — 3 — 3 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 230 $ 277 $ 175 $ (452 ) $ 230
Condensed Consolidating Balance Sheet	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2017 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 58 $ 141 $ — $ 199 Receivables, net — — 915 — 915 Due from affiliates — 2,822 — (2,822 ) — Inventories — 435 357 — 792 Assets held for sale — — 10 — 10 Other current assets 18 29 25 — 72 Total current assets 18 3,344 1,448 (2,822 ) 1,988 Investment in subsidiaries 8,460 2,135 — (10,595 ) — Property, plant and equipment, net 468 1,619 1,249 — 3,336 Goodwill — 1,159 325 — 1,484 Intangible assets, net — 1,027 413 (79 ) 1,361 Deferred income taxes (38 ) 293 66 — 321 Other non-current assets 11 64 125 — 200 TOTAL ASSETS $ 8,919 $ 9,641 $ 3,626 $ (13,496 ) $ 8,690 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 72 $ 794 $ 247 $ — $ 1,113 Due to affiliates 1,933 — 889 (2,822 ) — Long-term debt – current portion — 2 1 — 3 Total current liabilities 2,005 796 1,137 (2,822 ) 1,116 Long-term debt, net of current portion 2,658 11 17 — 2,686 Pension plan liability 239 — 133 — 372 Other employee benefits liability — 205 35 — 240 Deferred income taxes — — 75 — 75 Other liabilities 41 169 55 (79 ) 186 Redeemable equity — — — — — OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,976 8,460 2,135 (10,595 ) 3,976 Noncontrolling interests — — 39 — 39 Total equity 3,976 8,460 2,174 (10,595 ) 4,015 TOTAL LIABILITIES AND EQUITY $ 8,919 $ 9,641 $ 3,626 $ (13,496 ) $ 8,690	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 55 $ 57 $ — $ 112 Receivables, net — — 678 — 678 Due from affiliates — 2,612 — (2,612 ) — Inventories — 422 288 — 710 Assets held for sale — 3 9 — 12 Other current assets 24 26 24 — 74 Total current assets 24 3,118 1,056 (2,612 ) 1,586 Investment in subsidiaries 7,745 1,653 — (9,398 ) — Property, plant and equipment, net 470 1,600 1,042 — 3,112 Goodwill — 1,159 177 — 1,336 Intangible assets, net — 1,038 217 (117 ) 1,138 Deferred income taxes (42 ) 360 57 — 375 Other non-current assets 19 64 111 — 194 TOTAL ASSETS $ 8,216 $ 8,992 $ 2,660 $ (12,127 ) $ 7,741 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities $ 75 $ 832 $ 53 $ — $ 960 Due to affiliates 1,941 — 671 (2,612 ) — Long-term debt – current portion — 2 1 — 3 Total current liabilities 2,016 834 725 (2,612 ) 963 Long-term debt, net of current portion 2,069 12 18 — 2,099 Pension plan liability 244 — 123 — 367 Other employee benefits liability — 208 13 — 221 Deferred income taxes — — 36 — 36 Other liabilities 38 193 50 (117 ) 164 Redeemable equity — — 2 — 2 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 3,849 7,745 1,653 (9,398 ) 3,849 Noncontrolling interests — — 40 — 40 Total equity 3,849 7,745 1,693 (9,398 ) 3,889 TOTAL LIABILITIES AND EQUITY $ 8,216 $ 8,992 $ 2,660 $ (12,127 ) $ 7,741
Condensed Consolidating Statement of Cash Flows	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (55 ) $ 125 $ 322 $ — $ 392 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (8 ) (129 ) (33 ) — (170 ) Proceeds from the sale of assets or affiliates — 3 — — 3 Investment in subsidiaries and affiliates, net of cash acquired — (362 ) (199 ) — (561 ) Other 3 — — — 3 Net cash flow used for investing activities (5 ) (488 ) (232 ) — (725 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 588 — — — 588 Proceeds from senior revolving credit and receivables securitization facilities — — 337 — 337 Proceeds from term loan borrowing — — — — — Payments on senior revolving credit and receivables securitization facilities — — (337 ) — (337 ) Net decrease in short-term debt — — — — — Dividends paid (45 ) — — — (45 ) Purchases of treasury stock (134 ) — — — (134 ) Intercompany dividends paid — — — — — Other intercompany loans (352 ) 366 (14 ) — — Other 3 — — — 3 Net cash flow provided by financing activities 60 366 (14 ) — 412 Effect of exchange rate changes on cash — — 9 — 9 Net increase (decrease) in cash, cash equivalents and restricted cash — 3 85 — 88 Cash, cash equivalents and restricted cash at beginning of period 6 55 57 — 118 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 6 $ 58 $ 142 $ — $ 206	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (59 ) $ 225 $ 171 $ (11 ) $ 326 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (10 ) (125 ) (52 ) — (187 ) Proceeds from the sale of assets or affiliates — — — — — Investment in subsidiaries and affiliates, net of cash acquired — — (450 ) — (450 ) Other 2 — — — 2 Net cash flow used for investing activities (8 ) (125 ) (502 ) — (635 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt — — — — — Proceeds from senior revolving credit and receivables securitization facilities — — 434 — 434 Proceeds from term loan borrowing 300 — — — 300 Payments on senior revolving credit and receivables securitization facilities — — (326 ) — (326 ) Net decrease in short-term debt — — (6 ) — (6 ) Dividends paid (40 ) — — — (40 ) Purchases of treasury stock (87 ) — — — (87 ) Intercompany dividends paid — — (11 ) 11 — Other intercompany loans (110 ) (148 ) 258 — — Other 4 — — — 4 Net cash flow provided by financing activities 67 (148 ) 349 11 279 Effect of exchange rate changes on cash — — 1 — 1 Net increase (decrease) in cash, cash equivalents and restricted cash — (48 ) 19 — (29 ) Cash, cash equivalents and restricted cash at beginning of period — 48 48 — 96 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ — $ — $ 67 $ — $ 67

GENERAL (Details)

GENERAL (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
General Disclosure [Abstract]
Restricted cash	$ 7	$ 6	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
Number of Reportable Segments | segment			3
NET SALES	$ 1,597	$ 1,545	$ 3,075	$ 2,776
EBIT	190	240	360	356
Restructuring Charges and Related Items	(29)	(3)	(29)	(3)
Business Combination, Acquisition Related Costs	(10)	(2)	(11)	(4)
Other expenses, net	43	4	53	7
General corporate expense and other	(38)	(22)	(68)	(54)
InterWrap
Segment Reporting, Significant Reconciling Item [Line Items]
Business Combination, Acquisition Related Costs			(1)
Inventory Write-down	0	(8)	0	(8)
Pension Plan | Foreign Plan
Segment Reporting, Significant Reconciling Item [Line Items]
Pension Settlement Expense	(30)	0	(30)	0
U.S.
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,139	1,097	2,190	1,942
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	147	152	287	286
Asia Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	185	174	338	319
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	126	122	260	229
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	537	517	1,048	990
EBIT	84	74	155	138
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	439	414	838	799
EBIT	29	32	34	45
Building Materials
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	684	679	1,311	1,108
EBIT	155	169	280	242
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	1,660	1,610	3,197	2,897
EBIT	268	275	469	425
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
Revenues	(63)	(65)	(122)	(121)
Other Expense
Segment Reporting, Significant Reconciling Item [Line Items]
Business Combination, Acquisition Related Costs			(9)
Other expenses, net	$ 29	$ 0	29	$ 0
Other Expense | InterWrap
Segment Reporting, Significant Reconciling Item [Line Items]
Business Combination, Acquisition Related Costs			$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 521	$ 482
Materials and supplies	271	228
Total inventories	$ 792	$ 710

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Jul. 31, 2016USD ($)
Derivatives, Fair Value [Line Items]
Debt instrument, term			1 year
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 1,000,000
Beyond Twelve Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged		0	0
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer		12 months
Twelve Months
Derivatives, Fair Value [Line Items]
Percent of exposures hedged		0	0
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer		12 months
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
Senior Notes
Derivatives, Fair Value [Line Items]
Debt instrument, term			10 years
Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative, Remaining Maturity			15 months
Foreign Exchange Forward | U.S.
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		$ 81,000,000	$ 81,000,000
Foreign Exchange Forward | Europe
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		36,000,000	36,000,000
Cash Flow Hedging | U.S.
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		8,000,000	8,000,000
Cash Flow Hedging | Europe
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		2,000,000	2,000,000
Cash Flow Hedging | Treasury interest rate lock
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount					$ 300,000,000
Loss Recognized in OCI, Effective Portion	$ 1,000,000
Derivative, Net Hedge Ineffectiveness Gain (Loss)	$ 1,000,000	1,000,000
Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		250,000,000	250,000,000
Other Noncurrent Assets | Designated as Hedging Instrument | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		0	0	$ 6,000,000
Other Current Assets | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		0	0	4,000,000
Other Current Assets | Designated as Hedging Instrument | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		4,000,000	4,000,000	4,000,000
Other Current Assets | Nondesignated | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		0	0	1,000,000
Other Current Assets | Nondesignated | Electricity and Foreign Exchange Contracts
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		0	0	1,000,000
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		0	0	4,000,000
Other Comprehensive Income | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net		1,000,000	1,000,000	0
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	1,000,000
Other Comprehensive Income | Designated as Hedging Instrument | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net		3,000,000	3,000,000	18,000,000
Other Liabilities | Designated as Hedging Instrument | Net Investment Hedging | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net		10,000,000	10,000,000	0
Accounts Payable and Accrued Liabilities | Designated as Hedging Instrument | Cash Flow Hedging | Natural Gas Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net		1,000,000	1,000,000	0
Accounts Payable and Accrued Liabilities | Nondesignated | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net		$ 2,000,000	$ 2,000,000	$ 2,000,000

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Cost of sales | Designated as Hedging Instrument | Natural Gas Contract
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss reclassified from OCI into earnings (effective portion)		$ (1)	$ 3	$ (2)	$ 6
Other Expense | Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss reclassified from OCI into earnings (effective portion)		0	0	0	1
Other Expense | Nondesignated | Natural Gas Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings		1	0	1	(1)
Other Expense | Nondesignated | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings	[1]	4	3	4	6
Interest Expense | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings		$ 1	$ 0	$ 1	$ 1
[1]	Losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses, net.

GOODWILL AND OTHER INTANGIBLE48

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,336
Balance at end of period	1,484	$ 1,336
Intangible Assets [Line Items]
Gross carrying amount	1,594	1,358
Accumulated amortization	(233)	(220)
Intangible assets	$ 1,361	$ 1,138
Customer Relationships
Intangible Assets [Line Items]
Weighted average useful life	19 years	22 years
Gross carrying amount	$ 374	$ 252
Accumulated amortization	(100)	(94)
Net carrying amount	$ 274	$ 158
Technology
Intangible Assets [Line Items]
Weighted average useful life	18 years	19 years
Gross carrying amount	$ 231	$ 216
Accumulated amortization	(109)	(103)
Net carrying amount	$ 122	$ 113
Franchise and Other Agreements
Intangible Assets [Line Items]
Weighted average useful life	9 years	9 years
Gross carrying amount	$ 45	$ 45
Accumulated amortization	(24)	(23)
Net carrying amount	21	22
Trademarks
Intangible Assets [Line Items]
Gross carrying amount	944	845
Accumulated amortization	0	0
Indefinite-lived intangible assets	$ 944	$ 845

GOODWILL AND OTHER INTANGIBLE49

GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS - INTANGIBLE ASSETS ROLLFORWARD (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization expense, next twelve months	$ 37
Amortization expense, year two	37
Amortization expense, year three	37
Amortization expense, year four	37
Amortization expense, year five	37
Balance at beginning of period	1,358
Intangible assets acquired	235
Intangible assets, foreign currency translation	1
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	252
Intangible assets acquired	121
Intangible assets, foreign currency translation	1
Technology
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	216
Intangible assets acquired	15
Intangible assets, foreign currency translation	0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	845
Intangible assets acquired	99
Intangible assets, foreign currency translation	0
Franchise and Other Agreements
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	45
Intangible assets acquired	0
Intangible assets, foreign currency translation	0
Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Amortization expense, next twelve months	10
Amortization expense, year two	10
Amortization expense, year three	10
Amortization expense, year four	10
Amortization expense, year five	$ 10

GOODWILL AND OTHER INTANGIBLE50

GOODWILL AND OTHER INTANGIBLE ASSETS - GOODWILL ROLLFORWARD (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill [Line Items]
Balance at beginning of period	$ 1,336
Goodwill, Acquired During Period	143
Foreign currency translation	5
Balance at end of period	1,484
Composites
Goodwill [Line Items]
Balance at beginning of period	55
Goodwill, Acquired During Period	0
Foreign currency translation	1
Balance at end of period	56
Insulation
Goodwill [Line Items]
Balance at beginning of period	888
Goodwill, Acquired During Period	143
Foreign currency translation	0
Balance at end of period	1,031
Roofing
Goodwill [Line Items]
Balance at beginning of period	393
Goodwill, Acquired During Period	0
Foreign currency translation	4
Balance at end of period	$ 397

PROPERTY, PLANT AND EQUIPMENT51

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 5,503	$ 5,131
Accumulated depreciation	(2,167)	(2,019)
Property, plant and equipment, net	$ 3,336	$ 3,112
Precious Metals Depletion Percentage	13.00%	14.00%
precious metal percent of deprecation expense	0.03
Land
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 201	$ 189
Buildings and leasehold improvements
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	978	874
Machinery and equipment
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	4,039	3,818
Construction in progress
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 285	$ 250

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Purchase price, net of cash acquired		$ 561	$ 450
Intangible assets acquired		235
Goodwill, Acquired During Period		143
Pittsburgh Corning
Business Acquisition [Line Items]
Purchase price, net of cash acquired		567
Cash Acquired from Acquisition		50
InterWrap
Business Acquisition [Line Items]
Purchase price, net of cash acquired		452
Net sales recognized	$ 86
Customer Relationships
Business Acquisition [Line Items]
Intangible assets acquired		$ 121
Finite-Lived Intangible Asset, Useful Life		19 years		22 years
Customer Relationships | Pittsburgh Corning
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life		15 years
Technology
Business Acquisition [Line Items]
Intangible assets acquired		$ 15
Finite-Lived Intangible Asset, Useful Life		18 years		19 years
Technology | Pittsburgh Corning
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life		11 years
Trademarks
Business Acquisition [Line Items]
Intangible assets acquired		$ 99
Insulation
Business Acquisition [Line Items]
Goodwill, Acquired During Period		$ 143

WARRANTIES (Details)

WARRANTIES (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product Warranty Accrual, Beginning Balance	$ 52
Amounts accrued for current year	10
Settlements of warranty claims	(8)
Product Warranty Accrual, Ending Balance	$ 54

ACQUISITION-RELATED COSTS (Deta

ACQUISITION-RELATED COSTS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			$ 2
Restructuring costs	$ 29	$ 3	29	$ 3
Restructuring Reserve, Settled without Cash			(4)
Restructuring Reserve, Ending Balance	27		27
Cumulative charges incurred for restructuring and related costs	95		95
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs	10	2	11	4
Marketing and administrative expenses
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			2
Other expenses, net
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			9
Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation	1
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			0
Restructuring costs	13		13
Restructuring Reserve, Settled without Cash			(2)
Restructuring Reserve, Ending Balance	11		11
Cumulative charges incurred for restructuring and related costs	13		13
Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation	2	1	2	1
Pittsburgh Corning Related Restructuring
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			0
Restructuring costs			14
Restructuring Reserve, Settled without Cash			0
Restructuring Reserve, Ending Balance	14		14
Cumulative charges incurred for restructuring and related costs	14		14
Cost Redutions Actions 2016
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			1
Restructuring costs			1
Restructuring Reserve, Settled without Cash			(1)
Restructuring Reserve, Ending Balance	1		1
Cumulative charges incurred for restructuring and related costs	19		19
InterWrap Related Restructuring
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			0
Restructuring costs			1
Restructuring Reserve, Settled without Cash			(1)
Restructuring Reserve, Ending Balance	0		0
Cumulative charges incurred for restructuring and related costs	4		4
Cost Reduction Actions 2014
Restructuring Reserve Roll Forward
Restructuring Reserve, Beginning Balance			1
Restructuring costs			0
Restructuring Reserve, Settled without Cash			0
Restructuring Reserve, Ending Balance	1		1
Cumulative charges incurred for restructuring and related costs	45		45
Other Restructuring | Cost Reductions Actions 2017
Restructuring Reserve Roll Forward
Restructuring costs	1
Other Restructuring | Cost Reductions Actions 2017 | Cost of sales
Restructuring Reserve Roll Forward
Restructuring costs	2	2	2	2
Employee Severance
Restructuring Reserve Roll Forward
Restructuring Reserve, Ending Balance	27		27
Restructuring reserve, noncurrent	6		6
Restructuring reserve, current	21		21
Employee Severance | Cost Reductions Actions 2017
Restructuring Reserve Roll Forward
Restructuring costs	11
Employee Severance | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Reserve Roll Forward
Restructuring costs	25	$ 0	25	$ 0
Employee Severance | Pittsburgh Corning Related Restructuring
Restructuring Reserve Roll Forward
Restructuring costs	$ 14
InterWrap
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			1
InterWrap | Marketing and administrative expenses
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			1
InterWrap | Other expenses, net
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			0
Pittsburgh Corning
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			10
Pittsburgh Corning | Marketing and administrative expenses
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			1
Pittsburgh Corning | Other expenses, net
Acquisition Related Cost [Line Items]
Business Combination, Acquisition Related Costs			$ 9

ACQUISITION-RELATED COSTS - Nar

ACQUISITION-RELATED COSTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 29	$ 3	$ 29	$ 3
Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs			14
Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	13		13
Expected restructuring cost remaining	40		40
Restructuring and related cost, accelerated depreciation	1
Employee Severance | Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs	14
Employee Severance | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	11
Other Restructuring | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1
Accelerated Depreciation | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	$ 25		$ 25

DEBT DEBT (Details)

DEBT DEBT (Details) - USD ($)	3 Months Ended				6 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2014	Dec. 31, 2012	Jun. 30, 2017	Jun. 26, 2017	Dec. 31, 2016	Aug. 08, 2016	Dec. 31, 2015	Nov. 12, 2014	Oct. 17, 2012
Debt Instrument [Line Items]
Long-term Debt		$ 2,689,000,000			$ 2,689,000,000		$ 2,102,000,000
Fair Value Adjustment to Debt		7,000,000			7,000,000		8,000,000
Short-term Debt		1,000,000			$ 1,000,000		$ 1,000,000
Debt Instrument, Term					1 year
Short-term Debt, Weighted Average Interest Rate, at Point in Time							0.00%
Long-term Debt, Current Maturities		3,000,000			$ 3,000,000		$ 3,000,000
Long-term Debt, Excluding Current Maturities		2,686,000,000			2,686,000,000		2,099,000,000
Line of Credit Facility, Maximum Borrowing Capacity									$ 800,000,000
line of credit facility, uncommitted incremental borrowings					600,000,000
Senior Revolving Credit Facility B
Debt Instrument [Line Items]
Long-term Line of Credit		0			0
Line of Credit Facility, Maximum Borrowing Capacity		800,000,000			800,000,000
Letters of Credit Outstanding, Amount		9,000,000			9,000,000
Line of Credit Facility, Current Borrowing Capacity		791,000,000			791,000,000
Capital Lease Obligations
Debt Instrument [Line Items]
Long-term Debt		31,000,000			31,000,000		33,000,000
Senior Notes Due 2022
Debt Instrument [Line Items]
Debt Instrument, Face Amount											$ 600,000,000
Long-term Debt		$ 597,000,000			$ 597,000,000		$ 596,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		4.20%			4.20%		4.20%
Debt Instrument, Interest Rate, Stated Percentage		0.00%			0.00%
Senior Notes Due 2024
Debt Instrument [Line Items]
Debt Instrument, Face Amount										$ 400,000,000
Long-term Debt		$ 391,000,000			$ 391,000,000		$ 391,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		4.20%			4.20%		4.20%
Senior Notes Due 2026
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 400,000,000
Long-term Debt		$ 395,000,000			$ 395,000,000		$ 395,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		3.40%			3.40%		3.40%
Senior Notes Due 2016
Debt Instrument [Line Items]
Debt Instrument, Face Amount											650,000,000
Repayments of Debt		$ 158,000,000	$ 242,000,000	$ 250,000,000
Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Face Amount											350,000,000
Debt Instrument, Increase, Accrued Interest		1,000,000
Redemption Premium		8,000,000
Repayments of Debt		62,000,000	$ 105,000,000	$ 100,000,000
Long-term Debt		$ 143,000,000			$ 143,000,000		$ 143,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		9.00%			9.00%		9.00%
Senior Notes Due 2036
Debt Instrument [Line Items]
Debt Instrument, Face Amount											$ 540,000,000
Long-term Debt		$ 537,000,000			$ 537,000,000		$ 536,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		7.00%			7.00%		7.00%
Senior Notes Due 2047
Debt Instrument [Line Items]
Debt Instrument, Face Amount						$ 600,000,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net						$ 12,000,000
Long-term Debt		$ 588,000,000			$ 588,000,000		$ 0
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		4.30%			4.30%
Letter Of Credit Under Receivables Purchase Agreement [Member]
Debt Instrument [Line Items]
Long-term Line of Credit		$ 0			$ 0
Line of Credit Facility, Maximum Borrowing Capacity		250,000,000			250,000,000
Letters of Credit Outstanding, Amount		2,000,000			2,000,000
Line of Credit Facility, Current Borrowing Capacity		248,000,000			248,000,000
Term Loan Commitment
Debt Instrument [Line Items]
Long-term Line of Credit		0			0
Line of Credit Facility, Maximum Borrowing Capacity		350,000,000			350,000,000
Line of Credit Facility, Current Borrowing Capacity		$ 350,000,000			$ 350,000,000
Scenario, Forecast
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 71,000,000
Scenario, Forecast | Senior Notes Due 2019 and 2036
Debt Instrument [Line Items]
Debt Instrument, Unamortized Premium	58,000,000
Debt Instrument, Increase, Accrued Interest	1,000,000
Scenario, Forecast | Senior Notes Due 2019
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount	82,000,000
Scenario, Forecast | Senior Notes Due 2036
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount	$ 140,000,000

PENSION PLANS AND OTHER POSTR57

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2017
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Contributions by employer			$ 16
Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 2	$ 2	5	$ 5
Interest cost	14	16	28	31
Expected return on plan assets	(20)	(21)	(40)	(41)
Amortization of actuarial loss	6	5	10	9
Pension settlement loss	30	0	30	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	(6)	0	(6)
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	0	2	0	2
Net periodic pension cost	32	(2)	33	0
Other Postretirement Benefits Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	0	2	1
Interest cost	3	2	5	4
Amortization of prior service cost	0	(1)	(1)	(2)
Amortization of actuarial loss	1	0	0	0
Net periodic pension cost	5	1	6	3
U.S. | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1	3	3
Interest cost	10	11	20	22
Expected return on plan assets	(15)	(15)	(29)	(29)
Amortization of actuarial loss	4	4	7	7
Pension settlement loss	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	0	0	0
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	0	0	0	0
Net periodic pension cost	0	1	1	3
Foreign Plan | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1	2	2
Interest cost	4	5	8	9
Expected return on plan assets	(5)	(6)	(11)	(12)
Amortization of actuarial loss	2	1	3	2
Pension settlement loss	30	0	30	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	(6)	0	(6)
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	0	2	0	2
Net periodic pension cost	$ 32	$ (3)	$ 32	$ (3)
Scenario, Forecast | U.S. | Pension Plan
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Expected future employer contributions, current fiscal year					$ 50
Scenario, Forecast | Foreign Plan | Pension Plan
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Expected future employer contributions, current fiscal year					$ 21

CONTINGENT LIABILITIES AND OT58

CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)site	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)site	Jun. 30, 2016USD ($)
Unusual or Infrequent Item, or Both [Line Items]
Other expenses, net	$ 43	$ 4	$ 53	$ 7
Environmental liability sites | site	21		21
Environmental exit costs	$ 3		$ 3
Superfund Site
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites | site	8		8
Owned or Formally Owned Sites
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites | site	13		13
Other Expense
Unusual or Infrequent Item, or Both [Line Items]
Other expenses, net	$ 29	$ 0	$ 29	$ 0
Positive Outcome of Litigation
Unusual or Infrequent Item, or Both [Line Items]
Gain related to litigation settlement	$ 30

STOCK COMPENSATION (Details)

STOCK COMPENSATION (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Dec. 31, 2016$ / sharesshares	Apr. 18, 2013shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate			1.40%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term			2 years 11 months
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			26.10%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance			$ 35.14
Exercises in period weighted average exercise price			36.02
Forfeitures in period weighted average exercise price			37.65
Ending Balance	$ 35.02		$ 35.02
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 | shares	865,450		865,450
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term			57 months 16 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning Balance	$ 35.02		$ 35.02
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | shares	796,500		796,500
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term			55 months 16 days
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price	$ 34.79		$ 34.79
EmployeeStock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant | shares						2,000,000
Options Maximum term (in years)				10 years
Allocated share based compensation expense | $	$ 1	$ 1	$ 1	$ 1
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	1		$ 1
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition			8 months
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value | $	28		$ 28
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, Equity Instruments Other than Options, Nonvested, Number | shares	1,762,942		1,762,942		1,800,557
Allocated share based compensation expense | $	$ 5	5	$ 10	9
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	$ 42		$ 42
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term			34 months 1 day
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value | $			$ 18	14
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 42.02		$ 42.02		$ 37.78
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares			462,499
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 55.84
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares			33,063
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value			$ 42.95
Performance Stock Units (PSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | shares	685,298		685,298		472,300
Vesting period			3 years
Allocated share based compensation expense | $	$ 3	$ 3	$ 8	$ 5
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $	$ 22		$ 22
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition			22 months 16 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 51.24		$ 51.24		$ 47.19
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares			221,050
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 59.71
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares			8,052
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value			$ 45.93
Minimum
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	0		0
Maximum
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	$ 0		$ 0
Stock Plan Member, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant | shares	3,200,000		3,200,000
Internal Based Performance Metric
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
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
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant | shares	1,100,000		1,100,000
Allocated share based compensation expense | $			$ 1

STOCK COMPENSATION STOCK COMPEN

STOCK COMPENSATION STOCK COMPENSATION Stock Option Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	865,450	975,400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 35.02	$ 35.14
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	107,950
Exercises in period weighted average exercise price	$ 36.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	2,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 37.65

STOCK COMPENSATION STOCK COMP61

STOCK COMPENSATION STOCK COMPENSATION Restricted Stock Activity (Details) - Restricted Stock - $ / shares	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,762,942	1,800,557
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 42.02	$ 37.78
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	462,499
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 55.84
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	467,051
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 39.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	33,063
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 42.95

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Oct. 24, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Net earnings attributable to Owens Corning	$ 96	$ 138	$ 197	$ 195
Weighted-average number of shares outstanding used for basic earnings per share	111,600,000	115,100,000	112,000,000	115,300,000
Non-vested restricted and performance shares	1,200,000	800,000	1,200,000	800,000
Options to purchase common stock	300,000	500,000	300,000	400,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	113,100,000	116,400,000	113,500,000	116,500,000
Basic (in dollars per share)	$ 0.86	$ 1.20	$ 1.76	$ 1.69
Diluted (in dollars per share)	$ 0.85	$ 1.19	$ 1.74	$ 1.67
Equity Class Of Treasury Stock [Line Items]
Stock repurchased during period, shares			2,000,000
Payments for repurchase of equity			$ 121
Stock repurchase program, remaining number of shares authorized to be repurchased	7,800,000		7,800,000
Repurchase Program 2016
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased					10,000,000
Performance Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	0	100,000	0	100,000

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Assets:
Derivative assets	$ 4	$ 16
Liabilities:
Derivative liabilities	$ 13	$ 2
Senior Notes Due 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	113.00%	114.00%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	9.00%	9.00%
Senior Notes Due 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	106.00%	104.00%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.20%	4.20%
Senior Notes Due 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	105.00%	102.00%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.20%	4.20%
Senior Notes Due 2026
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	99.00%	95.00%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.40%	3.40%
Senior Notes Due 2036
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	133.00%	118.00%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	7.00%	7.00%
Senior Notes Due 2047
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes Payable, Fair Value Disclosure, Par Value	96.00%	0.00%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.30%
Fair Value Inputs Level 1
Assets:
Derivative assets	$ 0	$ 0
Liabilities:
Derivative liabilities	0	0
Fair Value Inputs Level 2
Assets:
Derivative assets	4	16
Liabilities:
Derivative liabilities	13	2
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 67	$ 73	$ 110	$ 107
Effective tax rate	41.00%	0.00%	36.00%	0.00%
Effective tax rate reconciliation	0.00%	0.00%	0.00%	0.00%

CHANGES IN ACCUMULATED OTHER 65

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance				$ (710)
Amounts classified into AOCI, net of tax		$ 7	$ (1)	8	$ (3)
Total AOCI ending balance		(634)	(635)	(634)	(635)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(248)	(213)	(284)	(247)
Net investment hedge amounts classified into AOCI, net of tax		9	(5)	9	2
Gain (loss) on foreign currency translation		38	(18)	74	23
Other Comprehensive Income (Loss), Net of Tax		29	(13)	65	21
Total AOCI ending balance		(219)	(226)	(219)	(226)
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax		14	0	14	10
Amounts reclassified from AOCI to net earnings, net of tax	[1]	17	(2)	18	0
Amounts classified into AOCI, net of tax		(3)	2	(4)	10
Total AOCI ending balance		(415)	(409)	(415)	(409)
Hedging Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		1	(3)	3	(4)
Other Comprehensive Income (Loss), Net of Tax		(1)	3	(3)	4
Amounts reclassified from AOCI to net earnings, net of tax	[2]	0	1	(1)	4
Amounts classified into AOCI, net of tax		(1)	2	(2)	0
Total AOCI ending balance		0	0	0	0
Pension Plan | Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		$ (429)	$ (409)	$ (429)	$ (419)
[1]	These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in Cost of sales, Marketing and administrative expenses and Other expenses, net. See Note 11 for additional information.
[2]	Amounts reclassified from (loss)/gain 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 CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Statements, Captions [Line Items]
NET SALES	$ 1,597	$ 1,545	$ 3,075	$ 2,776
COST OF SALES	1,188	1,129	2,323	2,088
Gross margin	409	416	752	688
OPERATING EXPENSES
Marketing and administrative expenses	155	151	297	285
Science and technology expenses	21	21	42	40
Other expenses, net	43	4	53	7
Total operating expenses	219	176	392	332
EARNINGS BEFORE INTEREST AND TAXES	190	240	360	356
Interest expense, net	27	29	53	52
EARNINGS BEFORE TAXES	163	211	307	304
Income tax expense	67	73	110	107
Equity in net earnings of subsidiaries	0	0	0	0
Income (Loss) from Equity Method Affiliates	0	1	0	1
NET EARNINGS	96	139	197	198
Net earnings attributable to noncontrolling interests	0	1	0	3
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	96	138	197	195
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
NET SALES	(118)	(112)	(245)	(226)
COST OF SALES	(118)	(112)	(245)	(226)
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 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
EARNINGS BEFORE TAXES	0	0	0	0
Income tax expense	0	0	0	0
Equity in net earnings of subsidiaries	(127)	(254)	(314)	(405)
Income (Loss) from Equity Method Affiliates	0	0	0	0
NET EARNINGS	(127)	(254)	(314)	(405)
Net earnings attributable to noncontrolling interests	0	0	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	(127)	(254)	(314)	(405)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET SALES	1,171	1,090	2,265	1,977
COST OF SALES	881	821	1,747	1,551
Gross margin	290	269	518	426
OPERATING EXPENSES
Marketing and administrative expenses	86	81	163	153
Science and technology expenses	18	17	35	33
Other expenses, net	(39)	23	(30)	35
Total operating expenses	65	121	168	221
EARNINGS BEFORE INTEREST AND TAXES	225	148	350	205
Interest expense, net	0	(1)	0	(1)
EARNINGS BEFORE TAXES	225	149	350	206
Income tax expense	82	71	132	95
Equity in net earnings of subsidiaries	(8)	88	48	147
Income (Loss) from Equity Method Affiliates	0	0	0	0
NET EARNINGS	135	166	266	258
Net earnings attributable to noncontrolling interests	0	0	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	135	166	266	258
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET SALES	0	0	0	0
COST OF SALES	0	1	1	2
Gross margin	0	(1)	(1)	(2)
OPERATING EXPENSES
Marketing and administrative expenses	38	35	74	68
Science and technology expenses	0	0	0	0
Other expenses, net	4	(1)	2	(3)
Total operating expenses	42	34	76	65
EARNINGS BEFORE INTEREST AND TAXES	(42)	(35)	(77)	(67)
Interest expense, net	24	24	47	46
EARNINGS BEFORE TAXES	(66)	(59)	(124)	(113)
Income tax expense	(27)	(31)	(55)	(50)
Equity in net earnings of subsidiaries	135	166	266	258
Income (Loss) from Equity Method Affiliates	0	0	0	0
NET EARNINGS	96	138	197	195
Net earnings attributable to noncontrolling interests	0	0	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	96	138	197	195
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET SALES	544	567	1,055	1,025
COST OF SALES	425	419	820	761
Gross margin	119	148	235	264
OPERATING EXPENSES
Marketing and administrative expenses	31	35	60	64
Science and technology expenses	3	4	7	7
Other expenses, net	78	(18)	81	(25)
Total operating expenses	112	21	148	46
EARNINGS BEFORE INTEREST AND TAXES	7	127	87	218
Interest expense, net	3	6	6	7
EARNINGS BEFORE TAXES	4	121	81	211
Income tax expense	12	33	33	62
Equity in net earnings of subsidiaries	0	0	0	0
Income (Loss) from Equity Method Affiliates	0	1	0	1
NET EARNINGS	(8)	89	48	150
Net earnings attributable to noncontrolling interests	0	1	0	3
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ (8)	$ 88	$ 48	$ 147

CONDENSED CONSOLIDATED STATEM67

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	$ 96	$ 139	$ 197	$ 198
Currency translation adjustment (net of tax)	29	(13)	65	21
Pension and other postretirement adjustment (net of tax)	14	0	14	10
Hedging adjustment (net of tax)	(1)	3	(3)	4
COMPREHENSIVE EARNINGS	138	129	273	233
Comprehensive earnings attributable to noncontrolling interests	0	1	0	3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	138	128	273	230
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	(127)	(254)	(314)	(405)
Currency translation adjustment (net of tax)	(37)	20	(74)	(22)
Pension and other postretirement adjustment (net of tax)	(14)	(21)	(11)	(23)
Hedging adjustment (net of tax)	0	(2)	0	(2)
COMPREHENSIVE EARNINGS	(178)	(257)	(399)	(452)
Comprehensive earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	(178)	(257)	(399)	(452)
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	96	138	197	195
Currency translation adjustment (net of tax)	29	(13)	65	21
Pension and other postretirement adjustment (net of tax)	14	0	14	10
Hedging adjustment (net of tax)	(1)	3	(3)	4
COMPREHENSIVE EARNINGS	138	128	273	230
Comprehensive earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	138	128	273	230
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	135	166	266	258
Currency translation adjustment (net of tax)	0	(3)	1	(4)
Pension and other postretirement adjustment (net of tax)	(2)	23	(3)	22
Hedging adjustment (net of tax)	0	0	0	1
COMPREHENSIVE EARNINGS	133	186	264	277
Comprehensive earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	133	186	264	277
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	(8)	89	48	150
Currency translation adjustment (net of tax)	37	(17)	73	26
Pension and other postretirement adjustment (net of tax)	16	(2)	14	1
Hedging adjustment (net of tax)	0	2	0	1
COMPREHENSIVE EARNINGS	45	72	135	178
Comprehensive earnings attributable to noncontrolling interests	0	1	0	3
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 45	$ 71	$ 135	$ 175

CONDENSED CONSOLIDATED BALANC68

CONDENSED CONSOLIDATED BALANCE SHEET (Details) - USD ($) $ in Millions		Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents		$ 199	$ 112
Receivables, net		915	678
Due from affiliates		0	0
Inventories		792	710
Assets held for sale		10	12
Other current assets		72	74
Total current assets		1,988	1,586
Investment in subsidiaries		0	0
Property, plant and equipment, net		3,336	3,112
Goodwill		1,484	1,336
Intangible assets, net		1,361	1,138
Deferred income taxes		321	375
Other non-current assets		200	194
TOTAL ASSETS		8,690	7,741
CURRENT LIABILITIES
Accounts payable and accrued liabilities		1,113	960
Due to affiliates		0	0
Short-term Debt		1	1
Long-term debt – current portion		3	3
Total current liabilities		1,116	963
Long-term debt, net of current portion		2,686	2,099
Pension plan liability		372	367
Other employee benefits liability		240	221
Deferred income taxes		75	36
Other liabilities		186	164
Redeemable equity		0	2
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		3,976	3,849
Noncontrolling interests		39	40
Total equity		4,015	3,889
TOTAL LIABILITIES AND EQUITY		8,690	7,741
Common Stock, Value, Issued	[1]	1	1
Additional Paid in Capital		3,988	3,984
Retained Earnings (Accumulated Deficit)		1,529	1,377
Treasury Stock, Value	[2]	908	803
Consolidation, Eliminations
CURRENT ASSETS
Cash and cash equivalents		0	0
Receivables, net		0	0
Due from affiliates		(2,822)	(2,612)
Inventories		0	0
Assets held for sale		0	0
Other current assets		0	0
Total current assets		(2,822)	(2,612)
Investment in subsidiaries		(10,595)	(9,398)
Property, plant and equipment, net		0	0
Goodwill		0	0
Intangible assets, net		(79)	(117)
Deferred income taxes		0	0
Other non-current assets		0	0
TOTAL ASSETS		(13,496)	(12,127)
CURRENT LIABILITIES
Accounts payable and accrued liabilities		0	0
Due to affiliates		(2,822)	(2,612)
Long-term debt – current portion		0	0
Total current liabilities		(2,822)	(2,612)
Long-term debt, net of current portion		0	0
Pension plan liability		0	0
Other employee benefits liability		0	0
Deferred income taxes		0	0
Other liabilities		(79)	(117)
Redeemable equity		0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		(10,595)	(9,398)
Noncontrolling interests		0	0
Total equity		(10,595)	(9,398)
TOTAL LIABILITIES AND EQUITY		(13,496)	(12,127)
Guarantor Subsidiaries [Member]
CURRENT ASSETS
Cash and cash equivalents		58	55
Receivables, net		0	0
Due from affiliates		2,822	2,612
Inventories		435	422
Assets held for sale		0	3
Other current assets		29	26
Total current assets		3,344	3,118
Investment in subsidiaries		2,135	1,653
Property, plant and equipment, net		1,619	1,600
Goodwill		1,159	1,159
Intangible assets, net		1,027	1,038
Deferred income taxes		293	360
Other non-current assets		64	64
TOTAL ASSETS		9,641	8,992
CURRENT LIABILITIES
Accounts payable and accrued liabilities		794	832
Due to affiliates		0	0
Long-term debt – current portion		2	2
Total current liabilities		796	834
Long-term debt, net of current portion		11	12
Pension plan liability		0	0
Other employee benefits liability		205	208
Deferred income taxes		0	0
Other liabilities		169	193
Redeemable equity		0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		8,460	7,745
Noncontrolling interests		0	0
Total equity		8,460	7,745
TOTAL LIABILITIES AND EQUITY		9,641	8,992
Parent Company
CURRENT ASSETS
Cash and cash equivalents		0	0
Receivables, net		0	0
Due from affiliates		0	0
Inventories		0	0
Assets held for sale		0	0
Other current assets		18	24
Total current assets		18	24
Investment in subsidiaries		8,460	7,745
Property, plant and equipment, net		468	470
Goodwill		0	0
Intangible assets, net		0	0
Deferred income taxes		(38)	(42)
Other non-current assets		11	19
TOTAL ASSETS		8,919	8,216
CURRENT LIABILITIES
Accounts payable and accrued liabilities		72	75
Due to affiliates		1,933	1,941
Long-term debt – current portion		0	0
Total current liabilities		2,005	2,016
Long-term debt, net of current portion		2,658	2,069
Pension plan liability		239	244
Other employee benefits liability		0	0
Deferred income taxes		0	0
Other liabilities		41	38
Redeemable equity		0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		3,976	3,849
Noncontrolling interests		0	0
Total equity		3,976	3,849
TOTAL LIABILITIES AND EQUITY		8,919	8,216
Non-Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents		141	57
Receivables, net		915	678
Due from affiliates		0	0
Inventories		357	288
Assets held for sale		10	9
Other current assets		25	24
Total current assets		1,448	1,056
Investment in subsidiaries		0	0
Property, plant and equipment, net		1,249	1,042
Goodwill		325	177
Intangible assets, net		413	217
Deferred income taxes		66	57
Other non-current assets		125	111
TOTAL ASSETS		3,626	2,660
CURRENT LIABILITIES
Accounts payable and accrued liabilities		247	53
Due to affiliates		889	671
Long-term debt – current portion		1	1
Total current liabilities		1,137	725
Long-term debt, net of current portion		17	18
Pension plan liability		133	123
Other employee benefits liability		35	13
Deferred income taxes		75	36
Other liabilities		55	50
Redeemable equity		0	2
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity		2,135	1,653
Noncontrolling interests		39	40
Total equity		2,174	1,693
TOTAL LIABILITIES AND EQUITY		$ 3,626	$ 2,660
[1]	400 shares authorized; 135.5 issued and 111.3 outstanding at June 30, 2017; 135.5 issued and 112.7 outstanding at December 31, 2016
[2]	24.2 shares at June 30, 2017, and 22.8 shares at December 31, 2016

CONDENSED CONSOLIDATED STATEM69

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	$ 392	$ 326
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(170)	(187)
Proceeds from the sale of assets or affiliates	3	0
Investment in subsidiaries and affiliates, net of cash acquired	(561)	(450)
Other	(3)	(2)
Net cash flow used for investing activities	(725)	(635)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	588	0
Proceeds from senior revolving credit and receivables securitization facilities	337	434
Proceeds from Issuance of Long-term Debt	0	300
Payments on senior revolving credit and receivables securitization facilities	(337)	(326)
Net decrease in short-term debt	0	(6)
Dividends paid	(45)	(40)
Purchases of treasury stock	(134)	(87)
Intercompany dividends paid	0	0
Other intercompany loans	0	0
Other	3	4
Net cash flow provided by financing activities	412	279
Effect of exchange rate changes on cash	9	1
Net increase (decrease) in cash, cash equivalents and restricted cash	88	(29)
Cash, cash equivalents and restricted cash at beginning of period	118	96
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	206	67
Consolidation, Eliminations
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	0	(11)
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
Other	0	0
Net cash flow used for investing activities	0	0
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	0	0
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from Issuance of Long-term Debt	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Net decrease in short-term debt	0	0
Dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	0	11
Other intercompany loans	0	0
Other	0	0
Net cash flow provided by financing activities	0	11
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	0	0
Non-Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	322	171
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(33)	(52)
Proceeds from the sale of assets or affiliates	0	0
Investment in subsidiaries and affiliates, net of cash acquired	(199)	(450)
Other	0	0
Net cash flow used for investing activities	(232)	(502)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	0	0
Proceeds from senior revolving credit and receivables securitization facilities	337	434
Proceeds from Issuance of Long-term Debt	0	0
Payments on senior revolving credit and receivables securitization facilities	(337)	(326)
Net decrease in short-term debt	0	(6)
Dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	0	(11)
Other intercompany loans	(14)	258
Other	0	0
Net cash flow provided by financing activities	(14)	349
Effect of exchange rate changes on cash	9	1
Net increase (decrease) in cash, cash equivalents and restricted cash	85	19
Cash, cash equivalents and restricted cash at beginning of period	57	48
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	142	67
Parent Company
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	(55)	(59)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(8)	(10)
Proceeds from the sale of assets or affiliates	0	0
Investment in subsidiaries and affiliates, net of cash acquired	0	0
Other	(3)	(2)
Net cash flow used for investing activities	(5)	(8)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	588	0
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from Issuance of Long-term Debt	0	300
Payments on senior revolving credit and receivables securitization facilities	0	0
Net decrease in short-term debt	0	0
Dividends paid	(45)	(40)
Purchases of treasury stock	(134)	(87)
Intercompany dividends paid	0	0
Other intercompany loans	(352)	(110)
Other	3	4
Net cash flow provided by financing activities	60	67
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	6	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	6	0
Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	125	225
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(129)	(125)
Proceeds from the sale of assets or affiliates	3	0
Investment in subsidiaries and affiliates, net of cash acquired	(362)	0
Other	0	0
Net cash flow used for investing activities	(488)	(125)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	0	0
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from Issuance of Long-term Debt	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Net decrease in short-term debt	0	0
Dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	0	0
Other intercompany loans	366	(148)
Other	0	0
Net cash flow provided by financing activities	366	(148)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	3	(48)
Cash, cash equivalents and restricted cash at beginning of period	55	48
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 58	$ 0