Owens Corning (OC) 10-Q 25 Oct 17 2017 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2017	Oct. 16, 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	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock Shares Outstanding		111,240,955

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
NET SALES	$ 1,703	$ 1,518	$ 4,778	$ 4,294
COST OF SALES	1,279	1,144	3,602	3,232
Gross margin	424	374	1,176	1,062
OPERATING EXPENSES
Marketing and administrative expenses	160	141	457	426
Science and technology expenses	22	20	64	60
Other expenses, net	15	6	68	13
Total operating expenses	197	167	589	499
EARNINGS BEFORE INTEREST AND TAXES	227	207	587	563
Interest expense, net	28	28	81	80
Loss on extinguishment of debt	71	1	71	1
EARNINGS BEFORE TAXES	128	178	435	482
Income tax expense	32	65	142	172
Equity in net earnings of affiliates	0	0	0	1
NET EARNINGS	96	113	293	311
Net earnings attributable to noncontrolling interests	0	1	0	4
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 96	$ 112	$ 293	$ 307
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 0.86	$ 0.98	$ 2.63	$ 2.67
Diluted (in dollars per share)	0.85	0.97	2.59	2.65
Dividend (in dollars per share)	$ 0.2	$ 0.18	$ 0.6	$ 0.54
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	111	114.1	111.6	114.9
Diluted (in shares)	112.7	115.4	113.2	116

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 96	$ 113	$ 293	$ 311
Currency translation adjustment (net of tax of $3 and $2 for the three months ended September 30, 2017 and 2016, respectively, and $9 and $3 for the nine months ended September 30, 2017 and 2016, respectively)	27	(2)	92	19
Pension and other postretirement adjustment (net of tax of $(1) for the three months ended September 30, 2017 and 2016, and $(9) and $2 for the nine months ended September 30, 2017 and 2016, respectively)	2	4	16	14
Hedging adjustment (net of tax of $0 for the three months ended September 30, 2017 and 2016, and $2 and $(2) for the nine months ended September 30, 2017 and 2016, respectively)	0	1	(3)	5
COMPREHENSIVE EARNINGS	125	116	398	349
Comprehensive earnings attributable to noncontrolling interests	0	1	0	4
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 125	$ 115	$ 398	$ 345

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Currency translation tax	$ 3	$ 2	$ 9	$ 3
Pension and other postretirement tax	(1)	(1)	(9)	2
Hedging tax	$ 0	$ 0	$ 2	$ (2)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents		$ 168	$ 112
Receivables, less allowances of $22 at September 30, 2017 and $9 at December 31, 2016		916	678
Inventories		793	710
Assets held for sale		12	12
Other current assets		74	74
Total current assets		1,963	1,586
Property, plant and equipment, net		3,314	3,112
Goodwill		1,513	1,336
Intangible assets, net		1,367	1,138
Deferred income taxes		297	375
Other non-current assets		202	194
TOTAL ASSETS		8,656	7,741
CURRENT LIABILITIES
Accounts payable and accrued liabilities		1,180	960
Short-term debt		2	1
Long-term debt – current portion		3	3
Total current liabilities		1,185	963
Long-term debt, net of current portion		2,539	2,099
Pension plan liability		316	367
Other employee benefits liability		239	221
Deferred income taxes		65	36
Other liabilities		198	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		3,995	3,984
Accumulated earnings		1,603	1,377
Accumulated other comprehensive deficit		(605)	(710)
Cost of common stock in treasury (c)	[3]	(920)	(803)
Total Owens Corning stockholders’ equity		4,074	3,849
Noncontrolling interests		40	40
Total equity		4,114	3,889
TOTAL LIABILITIES AND EQUITY		$ 8,656	$ 7,741
[1]	10 shares authorized; none issued or outstanding at September 30, 2017 and December 31, 2016
[2]	400 shares authorized; 135.5 issued and 111.2 outstanding at September 30, 2017; 135.5 issued and 112.7 outstanding at December 31, 2016
[3]	24.3 shares at September 30, 2017, and 22.8 shares at December 31, 2016

CONSOLIDATED BALANCE SHEETS (Pa

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

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS	$ 293	$ 311
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization	269	242
Deferred income taxes	88	127
Provision for pension and other employee benefits liabilities	34	6
Stock-based compensation expense	30	25
Other non-cash	17	(7)
Loss on extinguishment of debt	71	1
Changes in operating assets and liabilities	(17)	27
Pension fund contributions	(68)	(60)
Payments for other employee benefits liabilities	(13)	(14)
Other	(10)	21
Net cash flow provided by operating activities	694	679
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(249)	(281)
Proceeds from the sale of assets or affiliates	3	0
Investment in subsidiaries and affiliates, net of cash acquired	(566)	(450)
Other	2	2
Net cash flow used for investing activities	(810)	(729)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	588	395
Proceeds from senior revolving credit and receivables securitization facilities	869	574
Proceeds from term loan borrowing	0	300
Payments on term loan borrowing	0	(300)
Payments on senior revolving credit and receivables securitization facilities	(736)	(514)
Payments on long-term debt	(351)	(160)
Net increase (decrease) in short-term debt	2	(5)
Dividends paid	(67)	(61)
Purchases of treasury stock	(159)	(176)
Other	8	10
Net cash flow provided by financing activities	154	63
Effect of exchange rate changes on cash	19	1
Net increase in cash, cash equivalents and restricted cash	57	14
Cash, cash equivalents and restricted cash at beginning of period	118	96
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 175	$ 110

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [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 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 September 30, 2017 and December 31, 2016 , respectively. Restricted cash primarily represents amounts received from a counterparty related to its performance assurance on an executory contract, and is included in Other current assets on the Consolidated Balance Sheets. 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. There were no restricted cash amounts for the previous time periods presented in the Consolidated Statements of Cash Flows. Fair Value Measurements 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. Please refer to Notes 4 and 10 for additional fair value disclosure of derivative financial instruments and long-term debt, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
SEGMENT 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 Nine Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 514 $ 496 $ 1,562 $ 1,486 Insulation 568 476 1,406 1,275 Roofing 682 603 1,993 1,711 Total reportable segments 1,764 1,575 4,961 4,472 Corporate eliminations (61 ) (57 ) (183 ) (178 ) NET SALES $ 1,703 $ 1,518 $ 4,778 $ 4,294 External Customer Sales by Geographic Region United States $ 1,197 $ 1,068 $ 3,387 $ 3,010 Europe 194 136 481 422 Asia Pacific 167 174 505 493 Other 145 140 405 369 NET SALES $ 1,703 $ 1,518 $ 4,778 $ 4,294 EARNINGS BEFORE INTEREST AND TAXES Earnings before interest and taxes (“EBIT”) by segment consist of net sales less related costs and expenses and are presented on a basis that is used internally for evaluating segment performance. Certain items, such as general corporate expenses or income and certain other expense or income items, are excluded from the internal evaluation of segment performance. Accordingly, these items are not reflected in EBIT for our reportable segments and are included in the Corporate, Other and Eliminations category. The following table summarizes EBIT by segment (in millions): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 62 $ 61 $ 217 $ 199 Insulation 64 38 98 83 Roofing 147 146 427 388 Total reportable segments 273 245 742 670 Restructuring costs (8 ) (5 ) (37 ) (8 ) Acquisition-related costs (1 ) (4 ) (12 ) (8 ) Recognition of acquisition inventory fair value step-up (5 ) (2 ) (5 ) (10 ) Litigation settlement gain, net of legal fees — — 29 — Pension settlement gain (loss) 2 — (28 ) — General corporate expense and other (34 ) (27 ) (102 ) (81 ) Total Corporate, other and eliminations (46 ) (38 ) (155 ) (107 ) EBIT $ 227 $ 207 $ 587 $ 563

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): September 30, 2017 December 31, 2016 Finished goods $ 528 $ 482 Materials and supplies 265 228 Total inventories $ 793 $ 710

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 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 September 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. Our derivatives consist of natural gas forward 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 fair value of our derivatives and hedging instruments are all classified as Level 2 investments within the three-tier hierarchy. The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions): Fair Value at Location September 30, 2017 December 31, 2016 Derivative assets designated as hedging instruments: Net investment hedges: Cross currency swaps Other current assets $ 3 $ 4 Cross currency swaps Other non-current assets $ — $ 6 Cash flow hedges: Natural gas forward swaps Other current assets $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges: Cross currency swaps Other liabilities $ 19 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ 1 $ — Derivative assets not designated as hedging instruments: Natural gas forward swaps Other current assets $ — $ 1 Foreign exchange forward contracts Other current assets $ 2 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Accounts payable and accrued liabilities $ — $ 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 September 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 $103 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 $40 million for derivative financial instruments related to non-designated foreign currency exposures in European Euro primarily related to the Russian Ruble. 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 Nine Months Ended Location 2017 2016 2017 2016 Derivative activity designated as hedging instruments: Natural gas: Amount of loss/(gain) reclassified from OCI into earnings (effective portion) Cost of sales $ — $ 1 $ (2 ) $ 7 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 Derivative activity not designated as hedging instruments: Natural gas: Amount of (gain)/loss recognized in earnings Other expenses, net $ — $ (1 ) $ 1 $ (1 ) Foreign currency: Amount of loss/(gain) recognized in earnings (a) Other expenses, net $ 2 $ (1 ) $ 6 $ 5 (a) Losses and gains 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 and 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. As of September 30, 2017 , less than $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	9 Months Ended
	Sep. 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): September 30, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 362 $ (105 ) $ 257 Technology 18 254 (112 ) 142 Other 8 47 (25 ) 22 Indefinite-lived intangible assets: Trademarks 946 — 946 Total intangible assets $ 1,609 $ (242 ) $ 1,367 Goodwill $ 1,513 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 $35 million for fiscal years 2018 through 2020, $34 million in 2021 and $30 million in 2022, including approximately $8 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) 107 37 101 — 245 Foreign currency translation 3 1 — 2 6 Balance at September 30, 2017 $ 362 $ 254 $ 946 $ 47 $ 1,609 Goodwill During the first nine months of 2017, goodwill increased by $165 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 nine 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) 2 165 — 167 Foreign currency translation 1 3 6 10 Balance at September 30, 2017 $ 58 $ 1,056 $ 399 $ 1,513

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 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): September 30, December 31, 2016 Land $ 249 $ 189 Buildings and leasehold improvements 924 874 Machinery and equipment 4,167 3,818 Construction in progress 225 250 5,565 5,131 Accumulated depreciation (2,251 ) (2,019 ) Property, plant and equipment, net $ 3,314 $ 3,112 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 12% and 14% of total machinery and equipment as of September 30, 2017 and December 31, 2016 , respectively. Precious metals used in our production tooling are depleted as they are consumed during the production process, which typically represents an annual expense of less than 3% of the outstanding carrying value.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS During the first nine months of 2017, the Company completed acquisitions with an aggregate purchase price of $570 million , net of cash acquired. Pittsburgh Corning Acquisition On June 27, 2017, the Company acquired all the outstanding equity of Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets, for approximately $563 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. Pittsburgh Corning's operating results since the date of acquisition and a preliminary purchase price allocation have been included in the Company's Insulation segment in the Consolidated Financial Statements. The Company is continuing to obtain information to complete its valuation of certain assets and liabilities including intangible assets and tax assets. During the quarter ended September 30, 2017, the Company recorded measurement period adjustments to the purchase price allocation. 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 $ 107 19 Technology 37 15 Trademarks 101 indefinite Total $ 245 During the first nine months of 2017, the Consolidated Statements of Earnings included $73 million in Net sales attributable to the acquisition and a $5 million charge related to inventory fair value step-up in Cost of sales. Goodwill has been initially valued at approximately $165 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 nine months ended September 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	9 Months Ended
	Sep. 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): Nine Months Ended September 30, 2017 Beginning balance $ 52 Amounts accrued for current year 16 Settlements of warranty claims (12 ) Ending balance $ 56

RESTRUCTURING AND ACQUISITION-R

RESTRUCTURING AND ACQUISITION-RELATED COSTS	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND 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 nine months of 2017 , the Company incurred $12 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 the Restructuring Costs paragraph 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 first nine months of 2017 on the Consolidated Statements of Earnings (in millions): Location InterWrap Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 1 $ 2 $ 3 Other expenses, net — 9 9 Total acquisition-related costs $ 1 $ 11 $ 12 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 first nine months of 2017 , the Company recorded $15 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 (including Doudian, Peoples Republic of China) and North America (Mexico City, Mexico and Brunswick, Maine) and to reposition assets in its Chambery, France operation. During the first nine months of 2017 , the Company recorded $20 million of charges, comprised of $11 million of severance, $8 million of accelerated depreciation and $1 million of exit costs associated with these actions. The Company expects to recognize approximately $30 million of incremental costs in 2017 and 2018, of which about $15 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 September 30, Nine Months Ended September 30, Type of cost Location 2017 2016 2017 2016 Accelerated depreciation Cost of sales $ 7 $ 1 $ 9 $ 2 Other exit costs Cost of sales — 2 2 4 Severance Other expenses, net 1 1 26 1 Other exit costs Other expenses, net — 1 — 1 Total restructuring costs $ 8 $ 5 $ 37 $ 8 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 20 15 1 1 — 37 Payments — (6 ) — — (1 ) (7 ) Non-cash items (9 ) — (1 ) (1 ) — (11 ) Balance at September 30, 2017 $ 11 $ 9 $ 1 $ — $ — $ 21 Cumulative charges incurred $ 20 $ 15 $ 19 $ 4 $ 45 $ 103 As of September 30, 2017 , the remaining liability balance is comprised of $21 million of severance, inclusive of $7 million of non-current severance and $14 million of severance the Company expects to pay over the next twelve months.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Details of the Company’s outstanding long-term debt, as well as the fair values, are as follows (in millions): September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value 9.00% senior notes, net of discount and financing fees, due 2019 $ — — % $ 143 114 % 4.20% senior notes, net of discount and financing fees, due 2022 597 106 % 596 104 % 4.20% senior notes, net of discount and financing fees, due 2024 392 105 % 391 102 % 3.40% senior notes, net of discount and financing fees, due 2026 395 99 % 395 95 % 7.00% senior notes, net of discount and financing fees, due 2036 400 129 % 536 118 % 4.30% senior notes, net of discount and financing fees, due 2047 588 96 % — — % Accounts receivable securitization facility, maturing in 2020 (a) 133 100 % — — % Various capital leases, due through and beyond 2050 (a) 31 100 % 33 100 % Unamortized interest rate swap basis adjustment 6 n/a 8 n/a Total long-term debt 2,542 n/a 2,102 n/a Less – current portion (a) 3 100 % 3 100 % Long-term debt, net of current portion $ 2,539 n/a $ 2,099 n/a (a) The Company determined that the book value of the above noted long-term debt instruments approximates fair value. The fair values of the Company's outstanding long-term debt instruments were estimated using market observable inputs, including quoted prices in active markets, market indices and interest rate measurements. Within the hierarchy of fair value measurements, these are Level 2 fair values. 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 and for general corporate purposes. 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 repay portions of the Company's outstanding 2019 senior notes and 2036 senior notes. The Company issued a make-whole call to repay the remaining portion of its outstanding 2019 senior notes, and the redemption was completed in the third quarter of 2017. The Company recognized approximately $71 million of loss on extinguishment of debt in the third quarter of 2017 associated with these actions. 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 September 30, 2017 . In the first quarter of 2016, the Company terminated interest rate swaps designated to hedge a portion of the 4.20% senior notes due 2022. The residual fair value of the swaps are recognized in Long-term debt, net of current portion on the Consolidated Balance Sheets as an unamortized interest rate swap basis adjustment. 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 September 30, 2017 . Please refer to the Credit Facility Utilization paragraph below for liquidity information as of September 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 uncommitted incremental loans permitted under the Senior Revolving Credit Facility. The Company entered into the Term Loan Commitment, in part, to potentially pay a portion of the purchase price of the Pittsburgh Corning acquisition. 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. Receivables Securitization Facility Included in long-term debt on the Consolidated Balance Sheets are 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 September 30, 2017 . Please refer to the Credit Facility Utilization section below for liquidity information as of September 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): Balance at September 30, 2017 Senior Revolving Credit Facility Receivables Securitization Facility Facility size or borrowing limit $ 800 $ 250 Outstanding borrowings — 133 Outstanding letters of credit 9 2 Availability on facility $ 791 $ 115 Short-Term Debt Short-term borrowings were $2 million and less than $1 million as of September 30, 2017 and December 31, 2016 , respectively. The short-term borrowings consisted of various operating lines of credit and working capital facilities. Certain of these borrowings are collateralized by receivables, inventories or property. The borrowing facilities are typically for one -year renewable terms. The weighted average interest rate on all short-term borrowings was approximately 4.6% and 5.4% for September 30, 2017 and December 31, 2016 , respectively.

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 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 $28 million during the nine months ended September 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 September 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ — $ 2 Interest cost 10 2 12 11 4 15 Expected return on plan assets (14 ) (4 ) (18 ) (14 ) (5 ) (19 ) Amortization of actuarial loss 3 — 3 3 — 3 Settlement loss — (2 ) (2 ) — — — Contractual termination benefit — — — — — — Net periodic pension cost $ 1 $ (3 ) $ (2 ) $ 2 $ (1 ) $ 1 Nine Months Ended September 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 5 $ 4 $ 9 $ 5 $ 2 $ 7 Interest cost 30 10 40 33 13 46 Expected return on plan assets (43 ) (16 ) (59 ) (43 ) (17 ) (60 ) Amortization of actuarial loss 10 3 13 10 2 12 Settlement loss — 28 28 — — — Curtailment gain — — — — (6 ) (6 ) Contractual termination benefit — — — — 2 2 Net periodic pension cost $ 2 $ 29 $ 31 $ 5 $ (4 ) $ 1 The Company expects to contribute approximately $50 million in cash to the U.S. pension plans and another $22 million to non-U.S. plans during 2017 . The Company made cash contributions of $68 million to the plans during the nine months ended September 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 Nine Months Ended 2017 2016 2017 2016 Components of Net Periodic Benefit Cost Service cost $ — $ — $ 2 $ 1 Interest cost 2 3 6 7 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Amortization of actuarial loss — — (2 ) — Net periodic benefit cost $ 1 $ 2 $ 3 $ 5

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	9 Months Ended
	Sep. 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. During the second quarter of 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 September 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 September 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	9 Months Ended
	Sep. 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 September 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 nine months ended September 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 nine months ended September 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 nine months ended September 30, 2016 , the Company recognized expense of less than $1 million and $2 million , respectively, related to the Company's stock options. As of September 30, 2017 , there was less than $1 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 0.42 years. The total aggregate intrinsic value of options outstanding as of September 30, 2017 was $27 million . The following table summarizes the Company’s stock option activity: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 975,400 $ 35.14 Exercised (317,225 ) 31.71 Forfeited (3,250 ) 37.65 Ending Balance 654,925 $ 36.79 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2017 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89 - $42.16 654,925 4.95 $ 36.79 587,225 4.79 $ 36.69 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 nine months ended September 30, 2017 , the Company recognized expense of $5 million and $16 million , respectively, related to the Company's restricted stock. During the three and nine months ended September 30, 2016 , the Company recognized expense of $5 million and $14 million , respectively, related to the Company's restricted stock. As of September 30, 2017 , there was $37 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.67 years. The total fair value of shares vested during the nine months ended September 30, 2017 and 2016 was $18 million and $15 million , respectively. The following table summarizes the Company’s restricted stock activity: Nine Months Ended September 30, 2017 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,800,557 $ 37.78 Granted 486,774 56.35 Vested (471,955 ) 38.98 Forfeited (53,913 ) 44.10 Ending Balance 1,761,463 $ 42.30 Performance Stock Awards and Performance Stock Units The Company has granted performance stock awards and performance stock units (collectively referred to as “PSUs”) as a part of its long-term incentive plan. All outstanding performance grants will fully settle in stock. The amount of stock ultimately distributed from all performance shares issued after the 2014 grants is contingent on meeting internal company-based metrics or an external-based stock performance metric. The amount of stock ultimately distributed from the 2014 grant is contingent on meeting an external-based stock performance metric. In the nine months ended September 30, 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 nine months ended September 30, 2017 , the Company recognized expense of $4 million and $12 million , respectively, related to the Company's PSUs. During the three and nine months ended September 30, 2016 , the Company recognized expense of $2 million and $7 million , respectively, related to the Company's PSUs. As of September 30, 2017 , there was $18 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.74 years. The following table summarizes the Company’s PSU activity: Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 472,300 $ 47.19 Granted 221,050 59.71 Forfeited (18,052 ) 48.98 Ending Balance 675,298 $ 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 September 30, 2017 , 1.1 million shares remain available for purchase. During the three and nine months ended September 30, 2017 , the Company recognized expense of $1 million and $2 million , respectively, related to the Company's ESPP. During the three and nine months ended September 30, 2016 , the Company recognized expense of $1 million and $2 million , respectively, related to the Company's ESPP. As of September 30, 2017 , there was $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 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 Nine Months Ended 2017 2016 2017 2016 Net earnings attributable to Owens Corning $ 96 $ 112 $ 293 $ 307 Weighted-average number of shares outstanding used for basic earnings per share 111.0 114.1 111.6 114.9 Non-vested restricted and performance shares 1.4 0.9 1.4 0.8 Options to purchase common stock 0.3 0.4 0.2 0.3 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 112.7 115.4 113.2 116.0 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.86 $ 0.98 $ 2.63 $ 2.67 Diluted $ 0.85 $ 0.97 $ 2.59 $ 2.65 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 2.3 million shares of its common stock for $142 million during the nine months ended September 30, 2017 under the Repurchase Authorization. As of September 30, 2017 , 7.5 million shares remain available for repurchase under the Repurchase Authorization. For the three and nine months ended September 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 nine months ended September 30, 2016 , the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested performance shares due to their anti-dilutive effect.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Income tax expense $ 32 $ 65 $ 142 $ 172 Effective tax rate 25 % 37 % 33 % 36 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and nine months ended September 30, 2017 is primarily due to the reversal of a valuation allowance recorded in prior years against certain Asian net deferred tax assets, an increase in U.S. research and development tax credits, the benefit of lower foreign tax rates and other discrete adjustments. The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and nine months ended September 30, 2016 is primarily due to an increase in unrecognized tax benefit reserves, U.S. state and local income tax expense, the benefit of lower foreign tax rates and other discrete adjustments.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Currency Translation Adjustment Beginning balance $ (219 ) $ (226 ) $ (284 ) $ (247 ) Net investment hedge amounts classified into AOCI, net of tax (6 ) (3 ) (15 ) (5 ) Gain on foreign currency translation 33 1 107 24 Other comprehensive income/(loss), net of tax 27 (2 ) 92 19 Ending balance $ (192 ) $ (228 ) $ (192 ) $ (228 ) Pension and Other Postretirement Adjustment Beginning balance $ (415 ) $ (409 ) $ (429 ) $ (419 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 4 3 22 3 Amounts classified into AOCI, net of tax (2 ) 1 (6 ) 11 Other comprehensive income, net of tax 2 4 16 14 Ending balance $ (413 ) $ (405 ) $ (413 ) $ (405 ) Hedging Adjustment Beginning balance $ — $ — $ 3 $ (4 ) Amounts reclassified from AOCI to net earnings, net of tax (b) — 1 (1 ) 5 Amounts classified into AOCI, net of tax — — (2 ) — Other comprehensive income/(loss), net of tax — 1 (3 ) 5 Ending balance $ — $ 1 $ — $ 1 Total AOCI ending balance $ (605 ) $ (632 ) $ (605 ) $ (632 ) (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 gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and are recognized in Cost of sales. See Note 4 for additional information.

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 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, 2017-05 and 2017-13. 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 fourth quarter 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 do not contain multiple element arrangements. 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. We are still analyzing potential quarterly timing differences for our consignment sales arrangements and customized products manufactured for customers, but we expect any such differences to be immaterial to our results of operations. We are also still assessing the standard's new disclosure requirements and impact on internal control over financial reporting. 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). ASU 2017-12 "Derivatives and Hedging (Topic 815)" This standard changes how an entity assesses effectiveness of derivative instruments, potentially resulting in less ineffectiveness and more derivatives qualifying for hedge accounting. Entities may early adopt the standard in any interim period, with the effect of adoption being applied to existing hedging relationships as of the beginning of the fiscal year of adoption. January 1, 2019 We are currently assessing the impact this standard will have on our Consolidated Financial Statements.

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	9 Months Ended
	Sep. 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. 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 SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,236 $ 598 $ (131 ) $ 1,703 COST OF SALES — 945 465 (131 ) 1,279 Gross margin — 291 133 — 424 OPERATING EXPENSES Marketing and administrative expenses 37 83 40 — 160 Science and technology expenses — 17 5 — 22 Other expenses, net (3 ) 12 6 — 15 Total operating expenses 34 112 51 — 197 EARNINGS BEFORE INTEREST AND TAXES (34 ) 179 82 — 227 Interest expense, net 25 — 3 — 28 Loss on extinguishment of debt 71 — — — 71 EARNINGS BEFORE TAXES (130 ) 179 79 — 128 Income tax expense (50 ) 68 14 — 32 Equity in net earnings of subsidiaries 176 65 — (241 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 96 176 65 (241 ) 96 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 96 $ 176 $ 65 $ (241 ) $ 96 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,106 $ 545 $ (133 ) $ 1,518 COST OF SALES — 856 421 (133 ) 1,144 Gross margin — 250 124 — 374 OPERATING EXPENSES Marketing and administrative expenses 35 76 30 — 141 Science and technology expenses — 17 3 — 20 Other expenses, net (5 ) (6 ) 17 — 6 Total operating expenses 30 87 50 — 167 EARNINGS BEFORE INTEREST AND TAXES (30 ) 163 74 — 207 Interest expense, net 28 — — — 28 Loss on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (59 ) 163 74 — 178 Income tax expense (35 ) 93 7 — 65 Equity in net earnings of subsidiaries 136 66 — (202 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 136 67 (202 ) 113 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 136 $ 66 $ (202 ) $ 112 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 3,501 $ 1,653 $ (376 ) $ 4,778 COST OF SALES 1 2,692 1,285 (376 ) 3,602 Gross margin (1 ) 809 368 — 1,176 OPERATING EXPENSES Marketing and administrative expenses 111 246 100 — 457 Science and technology expenses — 52 12 — 64 Other expenses, net (1 ) (18 ) 87 — 68 Total operating expenses 110 280 199 — 589 EARNINGS BEFORE INTEREST AND TAXES (111 ) 529 169 — 587 Interest expense, net 72 — 9 — 81 Loss on extinguishment of debt 71 — — — 71 EARNINGS BEFORE TAXES (254 ) 529 160 — 435 Income tax expense (105 ) 200 47 — 142 Equity in net earnings of subsidiaries 442 113 — (555 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 293 442 113 (555 ) 293 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 293 $ 442 $ 113 $ (555 ) $ 293 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 3,123 $ 1,539 $ (368 ) $ 4,294 COST OF SALES 2 2,439 1,159 (368 ) 3,232 Gross margin (2 ) 684 380 — 1,062 OPERATING EXPENSES Marketing and administrative expenses 103 233 90 — 426 Science and technology expenses — 50 10 — 60 Other expenses, net (8 ) 31 (10 ) — 13 Total operating expenses 95 314 90 — 499 EARNINGS BEFORE INTEREST AND TAXES (97 ) 370 290 — 563 Interest expense, net 74 (1 ) 7 — 80 Loss on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (172 ) 371 283 — 482 Income tax expense (85 ) 188 69 — 172 Equity in net earnings of subsidiaries 394 211 — (605 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 307 394 215 (605 ) 311 Net earnings attributable to noncontrolling interests — — 4 — 4 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 307 $ 394 $ 211 $ (605 ) $ 307 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 96 $ 176 $ 65 $ (241 ) $ 96 Currency translation adjustment (net of tax) 27 — 34 (34 ) 27 Pension and other postretirement adjustment (net of tax) 2 (1 ) (1 ) 2 2 Hedging adjustment (net of tax) — — — — — COMPREHENSIVE EARNINGS 125 175 98 (273 ) 125 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 125 $ 175 $ 98 $ (273 ) $ 125 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 136 $ 67 $ (202 ) $ 113 Currency translation adjustment (net of tax) (2 ) — 2 (2 ) (2 ) Pension and other postretirement adjustment (net of tax) 4 (1 ) 3 (2 ) 4 Hedging adjustment (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 115 135 72 (206 ) 116 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 115 $ 135 $ 71 $ (206 ) $ 115 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 293 $ 442 $ 113 $ (555 ) $ 293 Currency translation adjustment (net of tax) 92 1 106 (107 ) 92 Pension and other postretirement adjustment (net of tax) 16 (4 ) 13 (9 ) 16 Hedging adjustment (net of tax) (3 ) — — — (3 ) COMPREHENSIVE EARNINGS 398 439 232 (671 ) 398 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 398 $ 439 $ 232 $ (671 ) $ 398 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 307 $ 394 $ 215 $ (605 ) $ 311 Currency translation adjustment (net of tax) 19 (3 ) 28 (25 ) 19 Pension and other postretirement adjustment (net of tax) 14 22 4 (26 ) 14 Hedging adjustment (net of tax) 5 1 1 (2 ) 5 COMPREHENSIVE EARNINGS 345 414 248 (658 ) 349 Comprehensive earnings attributable to noncontrolling interests — — 4 — 4 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 345 $ 414 $ 244 $ (658 ) $ 345 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2017 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 8 $ 160 $ — $ 168 Receivables, net — — 916 — 916 Due from affiliates — 3,126 — (3,126 ) — Inventories — 439 354 — 793 Other current assets 16 29 41 — 86 Total current assets 16 3,602 1,471 (3,126 ) 1,963 Investment in subsidiaries 8,667 1,983 — (10,650 ) — Property, plant and equipment, net 466 1,656 1,192 — 3,314 Goodwill and intangible assets, net — 2,357 597 (74 ) 2,880 Other non-current assets (24 ) 339 184 — 499 TOTAL ASSETS $ 9,125 $ 9,937 $ 3,444 $ (13,850 ) $ 8,656 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 89 $ 870 $ 226 $ — $ 1,185 Due to affiliates 2,350 — 776 (3,126 ) — Total current liabilities 2,439 870 1,002 (3,126 ) 1,185 Long-term debt, net of current portion 2,378 11 150 — 2,539 Deferred income taxes — — 65 — 65 Other liabilities 234 389 204 (74 ) 753 Redeemable equity — — — — — OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 4,074 8,667 1,983 (10,650 ) 4,074 Noncontrolling interests — — 40 — 40 Total equity 4,074 8,667 2,023 (10,650 ) 4,114 TOTAL LIABILITIES AND EQUITY $ 9,125 $ 9,937 $ 3,444 $ (13,850 ) $ 8,656 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 Other current assets 24 29 33 — 86 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 and intangible assets, net — 2,197 394 (117 ) 2,474 Other non-current assets (23 ) 424 168 — 569 TOTAL ASSETS $ 8,216 $ 8,992 $ 2,660 $ (12,127 ) $ 7,741 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 75 $ 834 $ 54 $ — $ 963 Due to affiliates 1,941 — 671 (2,612 ) — Total current liabilities 2,016 834 725 (2,612 ) 963 Long-term debt, net of current portion 2,069 12 18 — 2,099 Deferred income taxes — — 36 — 36 Other liabilities 282 401 186 (117 ) 752 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 NINE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (65 ) $ 416 $ 343 $ — $ 694 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (8 ) (192 ) (49 ) — (249 ) Proceeds from the sale of assets or affiliates — 3 — — 3 Investment in subsidiaries and affiliates, net of cash acquired — (369 ) (197 ) — (566 ) Other 2 — — — 2 Net cash flow used for investing activities (6 ) (558 ) (246 ) — (810 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 588 — — — 588 Proceeds from senior revolving credit and receivables securitization facilities 285 — 584 — 869 Proceeds from term loan borrowing — — — — — Payments on term loan borrowing — — — — — Payments on senior revolving credit and receivables securitization facilities (285 ) — (451 ) — (736 ) Payments on long-term debt (351 ) — — — (351 ) Net increase (decrease) in short-term debt — — 2 — 2 Dividends paid (67 ) — — — (67 ) Purchases of treasury stock (159 ) — — — (159 ) Intercompany dividends paid — — — — — Other intercompany loans 52 95 (147 ) — — Other 8 — — — 8 Net cash flow provided by financing activities 71 95 (12 ) — 154 Effect of exchange rate changes on cash — — 19 — 19 Net increase in cash, cash equivalents and restricted cash — (47 ) 104 — 57 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 $ 8 $ 161 $ — $ 175 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (67 ) $ 621 $ 136 $ (11 ) $ 679 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (11 ) (216 ) (54 ) — (281 ) Investment in subsidiaries and affiliates, net of cash acquired — — (450 ) — (450 ) Other 2 — — — 2 Net cash flow used for investing activities (9 ) (216 ) (504 ) — (729 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 395 — — — 395 Proceeds from senior revolving credit and receivables securitization facilities — — 574 — 574 Proceeds from term loan borrowing 300 — — — 300 Payments on term loan borrowing (300 ) — — — (300 ) Payments on senior revolving credit and receivables securitization facilities — — (514 ) — (514 ) Payments on long-term debt (160 ) — — — (160 ) Net increase (decrease) in short-term debt — — (5 ) — (5 ) Dividends paid (61 ) — — — (61 ) Purchases of treasury stock (176 ) — — — (176 ) Intercompany dividends paid — — (11 ) 11 — Other intercompany loans 103 (451 ) 348 — — Other 10 — — — 10 Net cash flow provided by financing activities 111 (451 ) 392 11 63 Effect of exchange rate changes on cash — — 1 — 1 Net increase in cash, cash equivalents and restricted cash 35 (46 ) 25 — 14 Cash, cash equivalents and restricted cash at beginning of period — 48 48 — 96 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 35 $ 2 $ 73 $ — $ 110

GENERAL (Policies)

GENERAL (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash
Fair Value Measurement	Fair Value Measurements 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

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 514 $ 496 $ 1,562 $ 1,486 Insulation 568 476 1,406 1,275 Roofing 682 603 1,993 1,711 Total reportable segments 1,764 1,575 4,961 4,472 Corporate eliminations (61 ) (57 ) (183 ) (178 ) NET SALES $ 1,703 $ 1,518 $ 4,778 $ 4,294
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 1,197 $ 1,068 $ 3,387 $ 3,010 Europe 194 136 481 422 Asia Pacific 167 174 505 493 Other 145 140 405 369 NET SALES $ 1,703 $ 1,518 $ 4,778 $ 4,294
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Reportable Segments Composites $ 62 $ 61 $ 217 $ 199 Insulation 64 38 98 83 Roofing 147 146 427 388 Total reportable segments 273 245 742 670 Restructuring costs (8 ) (5 ) (37 ) (8 ) Acquisition-related costs (1 ) (4 ) (12 ) (8 ) Recognition of acquisition inventory fair value step-up (5 ) (2 ) (5 ) (10 ) Litigation settlement gain, net of legal fees — — 29 — Pension settlement gain (loss) 2 — (28 ) — General corporate expense and other (34 ) (27 ) (102 ) (81 ) Total Corporate, other and eliminations (46 ) (38 ) (155 ) (107 ) EBIT $ 227 $ 207 $ 587 $ 563

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): September 30, 2017 December 31, 2016 Finished goods $ 528 $ 482 Materials and supplies 265 228 Total inventories $ 793 $ 710

DERIVATIVE FINANCIAL INSTRUME29

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 December 31, 2016 Derivative assets designated as hedging instruments: Net investment hedges: Cross currency swaps Other current assets $ 3 $ 4 Cross currency swaps Other non-current assets $ — $ 6 Cash flow hedges: Natural gas forward swaps Other current assets $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges: Cross currency swaps Other liabilities $ 19 $ — Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ 1 $ — Derivative assets not designated as hedging instruments: Natural gas forward swaps Other current assets $ — $ 1 Foreign exchange forward contracts Other current assets $ 2 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Accounts payable and accrued liabilities $ — $ 2
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table presents the notional amount of derivatives and hedging instruments on the Consolidated Balance Sheet (in millions): Notional Amount Unit of Measure September 30, 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
Schedule of Fair Value Derivative Instruments Statements of Earnings Location	The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Nine Months Ended Location 2017 2016 2017 2016 Derivative activity designated as hedging instruments: Natural gas: Amount of loss/(gain) reclassified from OCI into earnings (effective portion) Cost of sales $ — $ 1 $ (2 ) $ 7 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 Derivative activity not designated as hedging instruments: Natural gas: Amount of (gain)/loss recognized in earnings Other expenses, net $ — $ (1 ) $ 1 $ (1 ) Foreign currency: Amount of loss/(gain) recognized in earnings (a) Other expenses, net $ 2 $ (1 ) $ 6 $ 5 (a) Losses and gains 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 INTANGIBLE30

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-lived Intangible Assets Amortization Expense	Intangible assets and goodwill consist of the following (in millions): September 30, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 362 $ (105 ) $ 257 Technology 18 254 (112 ) 142 Other 8 47 (25 ) 22 Indefinite-lived intangible assets: Trademarks 946 — 946 Total intangible assets $ 1,609 $ (242 ) $ 1,367 Goodwill $ 1,513 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 $ 107 19 Technology 37 15 Trademarks 101 indefinite Total $ 245
Schedule of Finite-Lived Intangible Assets	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) 107 37 101 — 245 Foreign currency translation 3 1 — 2 6 Balance at September 30, 2017 $ 362 $ 254 $ 946 $ 47 $ 1,609
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) 2 165 — 167 Foreign currency translation 1 3 6 10 Balance at September 30, 2017 $ 58 $ 1,056 $ 399 $ 1,513

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): September 30, December 31, 2016 Land $ 249 $ 189 Buildings and leasehold improvements 924 874 Machinery and equipment 4,167 3,818 Construction in progress 225 250 5,565 5,131 Accumulated depreciation (2,251 ) (2,019 ) Property, plant and equipment, net $ 3,314 $ 3,112

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Finite-lived Intangible Assets Amortization Expense	Intangible assets and goodwill consist of the following (in millions): September 30, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 362 $ (105 ) $ 257 Technology 18 254 (112 ) 142 Other 8 47 (25 ) 22 Indefinite-lived intangible assets: Trademarks 946 — 946 Total intangible assets $ 1,609 $ (242 ) $ 1,367 Goodwill $ 1,513 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 $ 107 19 Technology 37 15 Trademarks 101 indefinite Total $ 245

WARRANTIES (Tables)

WARRANTIES (Tables)	9 Months Ended
	Sep. 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): Nine Months Ended September 30, 2017 Beginning balance $ 52 Amounts accrued for current year 16 Settlements of warranty claims (12 ) Ending balance $ 56

RESTRUCTURING AND ACQUISITION34

RESTRUCTURING AND ACQUISITION-RELATED COSTS (Tables)	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Acquisition-Related Costs During the first nine months of 2017 , the Company incurred $12 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 the Restructuring Costs paragraph 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 first nine months of 2017 on the Consolidated Statements of Earnings (in millions): Location InterWrap Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 1 $ 2 $ 3 Other expenses, net — 9 9 Total acquisition-related costs $ 1 $ 11 $ 12
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 September 30, Nine Months Ended September 30, Type of cost Location 2017 2016 2017 2016 Accelerated depreciation Cost of sales $ 7 $ 1 $ 9 $ 2 Other exit costs Cost of sales — 2 2 4 Severance Other expenses, net 1 1 26 1 Other exit costs Other expenses, net — 1 — 1 Total restructuring costs $ 8 $ 5 $ 37 $ 8
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 20 15 1 1 — 37 Payments — (6 ) — — (1 ) (7 ) Non-cash items (9 ) — (1 ) (1 ) — (11 ) Balance at September 30, 2017 $ 11 $ 9 $ 1 $ — $ — $ 21 Cumulative charges incurred $ 20 $ 15 $ 19 $ 4 $ 45 $ 103 As of September 30, 2017 , the remaining liability balance is comprised of $21 million of severance, inclusive of $7 million of non-current severance and $14 million of severance the Company expects to pay over the next twelve months.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Details of the Company’s outstanding long-term debt, as well as the fair values, are as follows (in millions): September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value 9.00% senior notes, net of discount and financing fees, due 2019 $ — — % $ 143 114 % 4.20% senior notes, net of discount and financing fees, due 2022 597 106 % 596 104 % 4.20% senior notes, net of discount and financing fees, due 2024 392 105 % 391 102 % 3.40% senior notes, net of discount and financing fees, due 2026 395 99 % 395 95 % 7.00% senior notes, net of discount and financing fees, due 2036 400 129 % 536 118 % 4.30% senior notes, net of discount and financing fees, due 2047 588 96 % — — % Accounts receivable securitization facility, maturing in 2020 (a) 133 100 % — — % Various capital leases, due through and beyond 2050 (a) 31 100 % 33 100 % Unamortized interest rate swap basis adjustment 6 n/a 8 n/a Total long-term debt 2,542 n/a 2,102 n/a Less – current portion (a) 3 100 % 3 100 % Long-term debt, net of current portion $ 2,539 n/a $ 2,099 n/a (a) The Company determined that the book value of the above noted long-term debt instruments approximates fair value.
Schedule of Line of Credit Facilities	The following table shows how the Company utilized its primary sources of liquidity (in millions): Balance at September 30, 2017 Senior Revolving Credit Facility Receivables Securitization Facility Facility size or borrowing limit $ 800 $ 250 Outstanding borrowings — 133 Outstanding letters of credit 9 2 Availability on facility $ 791 $ 115

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ — $ 2 Interest cost 10 2 12 11 4 15 Expected return on plan assets (14 ) (4 ) (18 ) (14 ) (5 ) (19 ) Amortization of actuarial loss 3 — 3 3 — 3 Settlement loss — (2 ) (2 ) — — — Contractual termination benefit — — — — — — Net periodic pension cost $ 1 $ (3 ) $ (2 ) $ 2 $ (1 ) $ 1 Nine Months Ended September 30, 2017 2016 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 5 $ 4 $ 9 $ 5 $ 2 $ 7 Interest cost 30 10 40 33 13 46 Expected return on plan assets (43 ) (16 ) (59 ) (43 ) (17 ) (60 ) Amortization of actuarial loss 10 3 13 10 2 12 Settlement loss — 28 28 — — — Curtailment gain — — — — (6 ) (6 ) Contractual termination benefit — — — — 2 2 Net periodic pension cost $ 2 $ 29 $ 31 $ 5 $ (4 ) $ 1
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 Nine Months Ended 2017 2016 2017 2016 Components of Net Periodic Benefit Cost Service cost $ — $ — $ 2 $ 1 Interest cost 2 3 6 7 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Amortization of actuarial loss — — (2 ) — Net periodic benefit cost $ 1 $ 2 $ 3 $ 5

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	9 Months Ended
	Sep. 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: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 975,400 $ 35.14 Exercised (317,225 ) 31.71 Forfeited (3,250 ) 37.65 Ending Balance 654,925 $ 36.79
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable	The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2017 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89 - $42.16 654,925 4.95 $ 36.79 587,225 4.79 $ 36.69
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the Company’s restricted stock activity: Nine Months Ended September 30, 2017 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,800,557 $ 37.78 Granted 486,774 56.35 Vested (471,955 ) 38.98 Forfeited (53,913 ) 44.10 Ending Balance 1,761,463 $ 42.30
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: Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 472,300 $ 47.19 Granted 221,050 59.71 Forfeited (18,052 ) 48.98 Ending Balance 675,298 $ 51.24

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended 2017 2016 2017 2016 Net earnings attributable to Owens Corning $ 96 $ 112 $ 293 $ 307 Weighted-average number of shares outstanding used for basic earnings per share 111.0 114.1 111.6 114.9 Non-vested restricted and performance shares 1.4 0.9 1.4 0.8 Options to purchase common stock 0.3 0.4 0.2 0.3 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 112.7 115.4 113.2 116.0 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.86 $ 0.98 $ 2.63 $ 2.67 Diluted $ 0.85 $ 0.97 $ 2.59 $ 2.65

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Income tax expense $ 32 $ 65 $ 142 $ 172 Effective tax rate 25 % 37 % 33 % 36 %

CHANGES IN ACCUMULATED OTHER 40

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Currency Translation Adjustment Beginning balance $ (219 ) $ (226 ) $ (284 ) $ (247 ) Net investment hedge amounts classified into AOCI, net of tax (6 ) (3 ) (15 ) (5 ) Gain on foreign currency translation 33 1 107 24 Other comprehensive income/(loss), net of tax 27 (2 ) 92 19 Ending balance $ (192 ) $ (228 ) $ (192 ) $ (228 ) Pension and Other Postretirement Adjustment Beginning balance $ (415 ) $ (409 ) $ (429 ) $ (419 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 4 3 22 3 Amounts classified into AOCI, net of tax (2 ) 1 (6 ) 11 Other comprehensive income, net of tax 2 4 16 14 Ending balance $ (413 ) $ (405 ) $ (413 ) $ (405 ) Hedging Adjustment Beginning balance $ — $ — $ 3 $ (4 ) Amounts reclassified from AOCI to net earnings, net of tax (b) — 1 (1 ) 5 Amounts classified into AOCI, net of tax — — (2 ) — Other comprehensive income/(loss), net of tax — 1 (3 ) 5 Ending balance $ — $ 1 $ — $ 1 Total AOCI ending balance $ (605 ) $ (632 ) $ (605 ) $ (632 ) (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 gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and are recognized in Cost of sales. See Note 4 for additional information.

ACCOUNTING PROOUNCEMENTS (Table

ACCOUNTING PROOUNCEMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	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, 2017-05 and 2017-13. 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 fourth quarter 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 do not contain multiple element arrangements. 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. We are still analyzing potential quarterly timing differences for our consignment sales arrangements and customized products manufactured for customers, but we expect any such differences to be immaterial to our results of operations. We are also still assessing the standard's new disclosure requirements and impact on internal control over financial reporting. 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). ASU 2017-12 "Derivatives and Hedging (Topic 815)" This standard changes how an entity assesses effectiveness of derivative instruments, potentially resulting in less ineffectiveness and more derivatives qualifying for hedge accounting. Entities may early adopt the standard in any interim period, with the effect of adoption being applied to existing hedging relationships as of the beginning of the fiscal year of adoption. January 1, 2019 We are currently assessing the impact this standard will have on our Consolidated Financial Statements.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
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 SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,236 $ 598 $ (131 ) $ 1,703 COST OF SALES — 945 465 (131 ) 1,279 Gross margin — 291 133 — 424 OPERATING EXPENSES Marketing and administrative expenses 37 83 40 — 160 Science and technology expenses — 17 5 — 22 Other expenses, net (3 ) 12 6 — 15 Total operating expenses 34 112 51 — 197 EARNINGS BEFORE INTEREST AND TAXES (34 ) 179 82 — 227 Interest expense, net 25 — 3 — 28 Loss on extinguishment of debt 71 — — — 71 EARNINGS BEFORE TAXES (130 ) 179 79 — 128 Income tax expense (50 ) 68 14 — 32 Equity in net earnings of subsidiaries 176 65 — (241 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 96 176 65 (241 ) 96 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 96 $ 176 $ 65 $ (241 ) $ 96 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,106 $ 545 $ (133 ) $ 1,518 COST OF SALES — 856 421 (133 ) 1,144 Gross margin — 250 124 — 374 OPERATING EXPENSES Marketing and administrative expenses 35 76 30 — 141 Science and technology expenses — 17 3 — 20 Other expenses, net (5 ) (6 ) 17 — 6 Total operating expenses 30 87 50 — 167 EARNINGS BEFORE INTEREST AND TAXES (30 ) 163 74 — 207 Interest expense, net 28 — — — 28 Loss on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (59 ) 163 74 — 178 Income tax expense (35 ) 93 7 — 65 Equity in net earnings of subsidiaries 136 66 — (202 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 112 136 67 (202 ) 113 Net earnings attributable to noncontrolling interests — — 1 — 1 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 112 $ 136 $ 66 $ (202 ) $ 112 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 3,501 $ 1,653 $ (376 ) $ 4,778 COST OF SALES 1 2,692 1,285 (376 ) 3,602 Gross margin (1 ) 809 368 — 1,176 OPERATING EXPENSES Marketing and administrative expenses 111 246 100 — 457 Science and technology expenses — 52 12 — 64 Other expenses, net (1 ) (18 ) 87 — 68 Total operating expenses 110 280 199 — 589 EARNINGS BEFORE INTEREST AND TAXES (111 ) 529 169 — 587 Interest expense, net 72 — 9 — 81 Loss on extinguishment of debt 71 — — — 71 EARNINGS BEFORE TAXES (254 ) 529 160 — 435 Income tax expense (105 ) 200 47 — 142 Equity in net earnings of subsidiaries 442 113 — (555 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 293 442 113 (555 ) 293 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 293 $ 442 $ 113 $ (555 ) $ 293 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 3,123 $ 1,539 $ (368 ) $ 4,294 COST OF SALES 2 2,439 1,159 (368 ) 3,232 Gross margin (2 ) 684 380 — 1,062 OPERATING EXPENSES Marketing and administrative expenses 103 233 90 — 426 Science and technology expenses — 50 10 — 60 Other expenses, net (8 ) 31 (10 ) — 13 Total operating expenses 95 314 90 — 499 EARNINGS BEFORE INTEREST AND TAXES (97 ) 370 290 — 563 Interest expense, net 74 (1 ) 7 — 80 Loss on extinguishment of debt 1 — — — 1 EARNINGS BEFORE TAXES (172 ) 371 283 — 482 Income tax expense (85 ) 188 69 — 172 Equity in net earnings of subsidiaries 394 211 — (605 ) — Equity in net earnings of affiliates — — 1 — 1 NET EARNINGS 307 394 215 (605 ) 311 Net earnings attributable to noncontrolling interests — — 4 — 4 NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 307 $ 394 $ 211 $ (605 ) $ 307
Condensed Consolidating Statement Of Comprehensive Earnings	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 293 $ 442 $ 113 $ (555 ) $ 293 Currency translation adjustment (net of tax) 92 1 106 (107 ) 92 Pension and other postretirement adjustment (net of tax) 16 (4 ) 13 (9 ) 16 Hedging adjustment (net of tax) (3 ) — — — (3 ) COMPREHENSIVE EARNINGS 398 439 232 (671 ) 398 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 398 $ 439 $ 232 $ (671 ) $ 398 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 307 $ 394 $ 215 $ (605 ) $ 311 Currency translation adjustment (net of tax) 19 (3 ) 28 (25 ) 19 Pension and other postretirement adjustment (net of tax) 14 22 4 (26 ) 14 Hedging adjustment (net of tax) 5 1 1 (2 ) 5 COMPREHENSIVE EARNINGS 345 414 248 (658 ) 349 Comprehensive earnings attributable to noncontrolling interests — — 4 — 4 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 345 $ 414 $ 244 $ (658 ) $ 345 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 96 $ 176 $ 65 $ (241 ) $ 96 Currency translation adjustment (net of tax) 27 — 34 (34 ) 27 Pension and other postretirement adjustment (net of tax) 2 (1 ) (1 ) 2 2 Hedging adjustment (net of tax) — — — — — COMPREHENSIVE EARNINGS 125 175 98 (273 ) 125 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 125 $ 175 $ 98 $ (273 ) $ 125 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 112 $ 136 $ 67 $ (202 ) $ 113 Currency translation adjustment (net of tax) (2 ) — 2 (2 ) (2 ) Pension and other postretirement adjustment (net of tax) 4 (1 ) 3 (2 ) 4 Hedging adjustment (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 115 135 72 (206 ) 116 Comprehensive earnings attributable to noncontrolling interests — — 1 — 1 COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 115 $ 135 $ 71 $ (206 ) $ 115
Condensed Consolidating Balance Sheet	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2017 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 8 $ 160 $ — $ 168 Receivables, net — — 916 — 916 Due from affiliates — 3,126 — (3,126 ) — Inventories — 439 354 — 793 Other current assets 16 29 41 — 86 Total current assets 16 3,602 1,471 (3,126 ) 1,963 Investment in subsidiaries 8,667 1,983 — (10,650 ) — Property, plant and equipment, net 466 1,656 1,192 — 3,314 Goodwill and intangible assets, net — 2,357 597 (74 ) 2,880 Other non-current assets (24 ) 339 184 — 499 TOTAL ASSETS $ 9,125 $ 9,937 $ 3,444 $ (13,850 ) $ 8,656 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 89 $ 870 $ 226 $ — $ 1,185 Due to affiliates 2,350 — 776 (3,126 ) — Total current liabilities 2,439 870 1,002 (3,126 ) 1,185 Long-term debt, net of current portion 2,378 11 150 — 2,539 Deferred income taxes — — 65 — 65 Other liabilities 234 389 204 (74 ) 753 Redeemable equity — — — — — OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 4,074 8,667 1,983 (10,650 ) 4,074 Noncontrolling interests — — 40 — 40 Total equity 4,074 8,667 2,023 (10,650 ) 4,114 TOTAL LIABILITIES AND EQUITY $ 9,125 $ 9,937 $ 3,444 $ (13,850 ) $ 8,656 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 Other current assets 24 29 33 — 86 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 and intangible assets, net — 2,197 394 (117 ) 2,474 Other non-current assets (23 ) 424 168 — 569 TOTAL ASSETS $ 8,216 $ 8,992 $ 2,660 $ (12,127 ) $ 7,741 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 75 $ 834 $ 54 $ — $ 963 Due to affiliates 1,941 — 671 (2,612 ) — Total current liabilities 2,016 834 725 (2,612 ) 963 Long-term debt, net of current portion 2,069 12 18 — 2,099 Deferred income taxes — — 36 — 36 Other liabilities 282 401 186 (117 ) 752 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 NINE MONTHS ENDED SEPTEMBER 30, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (65 ) $ 416 $ 343 $ — $ 694 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (8 ) (192 ) (49 ) — (249 ) Proceeds from the sale of assets or affiliates — 3 — — 3 Investment in subsidiaries and affiliates, net of cash acquired — (369 ) (197 ) — (566 ) Other 2 — — — 2 Net cash flow used for investing activities (6 ) (558 ) (246 ) — (810 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 588 — — — 588 Proceeds from senior revolving credit and receivables securitization facilities 285 — 584 — 869 Proceeds from term loan borrowing — — — — — Payments on term loan borrowing — — — — — Payments on senior revolving credit and receivables securitization facilities (285 ) — (451 ) — (736 ) Payments on long-term debt (351 ) — — — (351 ) Net increase (decrease) in short-term debt — — 2 — 2 Dividends paid (67 ) — — — (67 ) Purchases of treasury stock (159 ) — — — (159 ) Intercompany dividends paid — — — — — Other intercompany loans 52 95 (147 ) — — Other 8 — — — 8 Net cash flow provided by financing activities 71 95 (12 ) — 154 Effect of exchange rate changes on cash — — 19 — 19 Net increase in cash, cash equivalents and restricted cash — (47 ) 104 — 57 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 $ 8 $ 161 $ — $ 175 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES $ (67 ) $ 621 $ 136 $ (11 ) $ 679 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (11 ) (216 ) (54 ) — (281 ) Investment in subsidiaries and affiliates, net of cash acquired — — (450 ) — (450 ) Other 2 — — — 2 Net cash flow used for investing activities (9 ) (216 ) (504 ) — (729 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 395 — — — 395 Proceeds from senior revolving credit and receivables securitization facilities — — 574 — 574 Proceeds from term loan borrowing 300 — — — 300 Payments on term loan borrowing (300 ) — — — (300 ) Payments on senior revolving credit and receivables securitization facilities — — (514 ) — (514 ) Payments on long-term debt (160 ) — — — (160 ) Net increase (decrease) in short-term debt — — (5 ) — (5 ) Dividends paid (61 ) — — — (61 ) Purchases of treasury stock (176 ) — — — (176 ) Intercompany dividends paid — — (11 ) 11 — Other intercompany loans 103 (451 ) 348 — — Other 10 — — — 10 Net cash flow provided by financing activities 111 (451 ) 392 11 63 Effect of exchange rate changes on cash — — 1 — 1 Net increase in cash, cash equivalents and restricted cash 35 (46 ) 25 — 14 Cash, cash equivalents and restricted cash at beginning of period — 48 48 — 96 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 35 $ 2 $ 73 $ — $ 110

GENERAL (Details)

GENERAL (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Restricted cash	$ 7	$ 6	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
Number of reportable segments | segment				3
NET SALES	$ 1,703		$ 1,518	$ 4,778	$ 4,294
EBIT	227		207	587	563
Restructuring costs	(8)		(5)	(37)	(8)
Acquisition-related costs	(1)		(4)	(12)	(8)
Recognition of acquisition inventory fair value step-up	(5)		(2)	(5)	(10)
Litigation settlement gain, net of legal fees	15		6	68	13
General corporate expense and other	(34)		(27)	(102)	(81)
Pension Plan
Segment Reporting, Significant Reconciling Item [Line Items]
Pension settlement gain (loss)	2	$ (28)	0	(28)	0
Pension Plan | Foreign Plan
Segment Reporting, Significant Reconciling Item [Line Items]
Pension settlement gain (loss)	2		0	(28)	0
Other Expense
Segment Reporting, Significant Reconciling Item [Line Items]
Acquisition-related costs				(9)
Litigation settlement gain, net of legal fees	0	$ 29	0	29	0
U.S.
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	1,197		1,068	3,387	3,010
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	194		136	481	422
Asia Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	167		174	505	493
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	145		140	405	369
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	514		496	1,562	1,486
EBIT	62		61	217	199
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	568		476	1,406	1,275
EBIT	64		38	98	83
Roofing
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	682		603	1,993	1,711
EBIT	147		146	427	388
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	1,764		1,575	4,961	4,472
EBIT	273		245	742	670
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	(61)		(57)	(183)	(178)
EBIT	$ (46)		$ (38)	$ (155)	$ (107)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 528	$ 482
Materials and supplies	265	228
Total inventories	$ 793	$ 710

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Foreign Exchange Forward | U.S.
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 103
Foreign Exchange Forward | Europe
Derivatives, Fair Value [Line Items]
Derivative, notional amount	40
Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative, notional amount	250
Cash Flow Hedging | Energy Related Derivative | U.S.
Derivatives, Fair Value [Line Items]
Derivative, notional amount	8
Cash Flow Hedging | Energy Related Derivative | Europe
Derivatives, Fair Value [Line Items]
Derivative, notional amount	2
Other Current Assets | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	3	$ 4
Other Current Assets | Designated as Hedging Instrument | Cash Flow Hedging | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	0	4
Other Current Assets | Nondesignated as Hedging Instrument | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	0	1
Other Current Assets | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	2	1
Other Noncurrent Assets | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	0	6
Other Liabilities | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	19	0
Accounts Payable and Accrued Liabilities | Designated as Hedging Instrument | Cash Flow Hedging | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	1	0
Accounts Payable and Accrued Liabilities | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 0	$ 2

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Cost of sales | Designated as Hedging Instrument | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of loss/(gain) reclassified from OCI into earnings (effective portion)		$ 0	$ 1	$ (2)	$ 7
Other expenses, net | Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss reclassified from OCI into earnings (effective portion)		0	0	0	1
Other expenses, net | Nondesignated as Hedging Instrument | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings		0	(1)	1	(1)
Other expenses, net | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings	[1]	2	(1)	6	5
Interest expense, net | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings		$ 0	$ 0	$ 1	$ 1
[1]	Losses and gains 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.

DERIVATIVE FINANCIAL INSTRUME48

DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS CASH FLOW (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017USD ($)
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months		$ 1
Natural Gas Contract
Derivative [Line Items]
Derivative, remaining maturity		15 months
Two Months
Derivative [Line Items]
Percent of exposures hedged	0.75	0.75
Exposure time		2 months
Four Months
Derivative [Line Items]
Percent of exposures hedged	0.60	0.60
Exposure time		4 months
Twelve Months
Derivative [Line Items]
Percent of exposures hedged	0.75	0.75
Derivative instruments, gain (loss) reclassification from accumulated OCI to income, estimate of time to transfer	12 months
Beyond Twelve Months
Derivative [Line Items]
Percent of exposures hedged	0.65	0.65
Derivative instruments, gain (loss) reclassification from accumulated OCI to income, estimate of time to transfer	12 months

GOODWILL AND OTHER INTANGIBLE49

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,609	$ 1,358
Accumulated amortization	(242)	(220)
Intangible assets, net	1,367	1,138
Goodwill	$ 1,513	$ 1,336
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	20 years	22 years
Gross carrying amount	$ 362	$ 252
Accumulated amortization	(105)	(94)
Net carrying amount	$ 257	$ 158
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	18 years	19 years
Gross carrying amount	$ 254	$ 216
Accumulated amortization	(112)	(103)
Net carrying amount	$ 142	$ 113
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	8 years	9 years
Gross carrying amount	$ 47	$ 45
Accumulated amortization	(25)	(23)
Net carrying amount	22	22
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	946	845
Accumulated amortization	0	0
Indefinite-lived intangible assets	$ 946	$ 845

GOODWILL AND OTHER INTANGIBLE50

GOODWILL AND OTHER INTANGIBLE ASSETS - INTANGIBLE ASSETS ROLLFORWARD (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	$ 1,358
Intangible assets acquired	245
Intangible assets, foreign currency translation	6
Balance at end of period	1,609
Amortization expense, next twelve months	35
Amortization expense, year two	35
Amortization expense, year three	35
Amortization expense, year four	34
Amortization expense, year five	30
Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	245
Amortization expense, next twelve months	8
Amortization expense, year two	8
Amortization expense, year three	8
Amortization expense, year four	8
Amortization expense, year five	8
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	252
Intangible assets, foreign currency translation	3
Balance at end of period	362
Customer relationships | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	107
Technology
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	216
Intangible assets, foreign currency translation	1
Balance at end of period	254
Technology | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	37
Trademarks
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	845
Intangible assets, foreign currency translation	0
Balance at end of period	946
Trademarks | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	101
Other
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	45
Intangible assets, foreign currency translation	2
Balance at end of period	47
Other | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 0

GOODWILL AND OTHER INTANGIBLE51

GOODWILL AND OTHER INTANGIBLE ASSETS - GOODWILL ROLLFORWARD (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Line Items]
Balance at beginning of period	$ 1,336
Goodwill, acquired during period	167
Foreign currency translation	10
Balance at end of period	1,513
Composites
Goodwill [Line Items]
Balance at beginning of period	55
Goodwill, acquired during period	2
Foreign currency translation	1
Balance at end of period	58
Insulation
Goodwill [Line Items]
Balance at beginning of period	888
Goodwill, acquired during period	165
Foreign currency translation	3
Balance at end of period	1,056
Roofing
Goodwill [Line Items]
Balance at beginning of period	393
Goodwill, acquired during period	0
Foreign currency translation	6
Balance at end of period	$ 399

PROPERTY, PLANT AND EQUIPMENT52

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 5,565	$ 5,131
Accumulated depreciation	(2,251)	(2,019)
Property, plant and equipment, net	$ 3,314	$ 3,112
Precious metals depletion percentage	12.00%	14.00%
Precious metal percent of deprecation expense	0.03
Land
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 249	$ 189
Buildings and leasehold improvements
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	924	874
Machinery and equipment
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	4,167	3,818
Construction in progress
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 225	$ 250

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Millions	Jun. 27, 2017	Apr. 21, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Purchase price, net of cash acquired					$ 566	$ 450
Net sales			$ 1,703	$ 1,518	4,778	4,294
Cost of sales			1,279	1,144	3,602	3,232
Goodwill, acquired during period					167
Pittsburgh Corning
Business Acquisition [Line Items]
Purchase price, net of cash acquired	$ 563				570
Net sales					73
Cost of sales					5
Cash acquired from acquisition					50
InterWrap
Business Acquisition [Line Items]
Purchase price, net of cash acquired		$ 452
Net sales recognized					86
Insulation
Business Acquisition [Line Items]
Net sales			$ 568	$ 476	1,406	$ 1,275
Goodwill, acquired during period					$ 165

ACQUISITIONS - Intangible Asset

ACQUISITIONS - Intangible Assets Acquired (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Business Acquisition [Line Items]
Intangible assets acquired	$ 245
Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	245
Customer relationships | Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	$ 107
Weighted average useful life	19 years
Technology | Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	$ 37
Weighted average useful life	15 years
Trademarks | Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	$ 101

WARRANTIES (Details)

WARRANTIES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product warranty accrual, beginning balance	$ 52
Amounts accrued for current year	16
Settlements of warranty claims	(12)
Product warranty accrual, ending balance	$ 56

RESTRUCTURING AND ACQUISITION56

RESTRUCTURING AND ACQUISITION-RELATED COSTS ACQUISITIONS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	$ 1	$ 4	$ 12	$ 8
Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			3
Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			9
InterWrap
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			1
InterWrap | Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			1
InterWrap | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			0
Pittsburgh Corning
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			11
Pittsburgh Corning | Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			2
Pittsburgh Corning | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			$ 9

RESTRUCTURING AND ACQUISITION57

RESTRUCTURING AND ACQUISITION-RELATED COSTS RESTRUCTURING (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 8	$ 5	$ 37	$ 8
Payments			(7)
Non-cash items			(11)
Restructuring reserve	21		21		$ 2
Cumulative charges incurred	103		103
Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs			15
Payments			(6)
Non-cash items			0
Restructuring reserve	9		9		0
Cumulative charges incurred	15		15
Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	20		20
Restructuring and related cost, accelerated depreciation	8
Payments			0
Non-cash items			(9)
Restructuring reserve	11		11		0
Cumulative charges incurred	20		20
Cost Redutions Actions 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs			1
Payments			0
Non-cash items			(1)
Restructuring reserve	1		1		1
Cumulative charges incurred	19		19
InterWrap Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs			1
Payments			0
Non-cash items			(1)
Restructuring reserve	0		0		0
Cumulative charges incurred	4		4
Cost Reduction Actions 2014
Restructuring Cost and Reserve [Line Items]
Restructuring costs			0
Payments			(1)
Non-cash items			0
Restructuring reserve	0		0		$ 1
Cumulative charges incurred	45		45
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	21		21
Restructuring reserve, noncurrent	7		7
Restructuring reserve, current	14		14
Employee Severance | Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs	15
Employee Severance | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	11
Employee Severance | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1	1	26	1
Additional Exit Costs | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1
Restructuring and related cost, expected cost remaining	30		30
Additional Exit Costs | Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	2	2	4
Additional Exit Costs | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	1	0	1
Accelerated Depreciation | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	15		15
Accelerated Depreciation | Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, accelerated depreciation	$ 7	$ 1	$ 9	$ 2

DEBT (Details)

DEBT (Details) - USD ($)		3 Months Ended				9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2014	Dec. 31, 2012	Sep. 30, 2017	Sep. 30, 2016	Jun. 26, 2017	Dec. 31, 2016	Aug. 08, 2016	Mar. 31, 2016	Dec. 31, 2015	Nov. 12, 2014	Oct. 17, 2012
Debt Instrument [Line Items]
Long-term debt		$ 2,542,000,000				$ 2,542,000,000			$ 2,102,000,000
Fair value long-term debt	[1]	100.00%				100.00%			100.00%
Unamortized interest rate swap basis adjustment		$ 6,000,000				$ 6,000,000			$ 8,000,000
Long-term debt, current maturities		3,000,000				3,000,000			3,000,000
Long-term debt, net of current portion		2,539,000,000				2,539,000,000			2,099,000,000
Loss on extinguishment of debt		(71,000,000)	$ (1,000,000)			(71,000,000)	$ (1,000,000)
Line of credit facility, maximum borrowing capacity												$ 800,000,000
Line of credit facility, uncommitted incremental borrowings						600,000,000
Short-term debt		$ 2,000,000				$ 2,000,000			$ 1,000,000
Debt instrument, term						1 year
Short-term debt, weighted average interest rate, at point in time		4.60%				4.60%			5.40%
Senior Notes Due 2019
Debt Instrument [Line Items]
Long-term debt		$ 0				$ 0			$ 143,000,000
Fair value long-term debt		0.00%				0.00%			114.00%
Long-term debt, percentage rate		9.00%				9.00%			9.00%
Debt instrument, face amount														$ 350,000,000
Repayments of debt				$ 105,000,000	$ 100,000,000
Senior Notes Due 2022
Debt Instrument [Line Items]
Long-term debt		$ 597,000,000				$ 597,000,000			$ 596,000,000
Fair value long-term debt		106.00%				106.00%			104.00%
Long-term debt, percentage rate		4.20%				4.20%			4.20%
Debt instrument, face amount														600,000,000
Debt instrument, interest rate, stated percentage											4.20%
Senior Notes Due 2024
Debt Instrument [Line Items]
Long-term debt		$ 392,000,000				$ 392,000,000			$ 391,000,000
Fair value long-term debt		105.00%				105.00%			102.00%
Long-term debt, percentage rate		4.20%				4.20%			4.20%
Debt instrument, face amount													$ 400,000,000
Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term debt		$ 395,000,000				$ 395,000,000			$ 395,000,000
Fair value long-term debt		99.00%				99.00%			95.00%
Long-term debt, percentage rate		3.40%				3.40%			3.40%
Debt instrument, face amount										$ 400,000,000
Senior Notes Due 2036
Debt Instrument [Line Items]
Long-term debt		$ 400,000,000				$ 400,000,000			$ 536,000,000
Fair value long-term debt		129.00%				129.00%			118.00%
Long-term debt, percentage rate		7.00%				7.00%			7.00%
Debt instrument, face amount														540,000,000
Senior Notes Due 2047
Debt Instrument [Line Items]
Long-term debt		$ 588,000,000				$ 588,000,000			$ 0
Fair value long-term debt		96.00%				96.00%			0.00%
Long-term debt, percentage rate		4.30%				4.30%
Debt instrument, face amount								$ 600,000,000
Debt instrument, unamortized discount (premium) and debt issuance costs, net								$ 12,000,000
Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Long-term debt		$ 133,000,000				$ 133,000,000			$ 0
Fair value long-term debt	[1]	100.00%				100.00%			0.00%
Line of credit facility, maximum borrowing capacity		$ 250,000,000				$ 250,000,000
Capital Lease Obligations
Debt Instrument [Line Items]
Long-term debt		$ 31,000,000				$ 31,000,000			$ 33,000,000
Fair value long-term debt	[1]	100.00%				100.00%			100.00%
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
Term Loan Commitment
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 350,000,000				$ 350,000,000
[1]	The Company determined that the book value of the above noted long-term debt instruments approximates fair value.

DEBT - Credit Facility Utilizat

DEBT - Credit Facility Utilization (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2015
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 800
Senior Revolving Credit Facility B
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 800
Long-term line of credit	0
Letters of credit outstanding, amount	9
Line of credit facility, current borrowing capacity	791
Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	250
Long-term line of credit	133
Letters of credit outstanding, amount	2
Line of credit facility, current borrowing capacity	$ 115

PENSION PLANS AND OTHER POSTR60

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2017
Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 3		$ 2	$ 9	$ 7
Interest cost	12		15	40	46
Expected return on plan assets	(18)		(19)	(59)	(60)
Amortization of actuarial loss	3		3	13	12
Settlement loss	(2)	$ 28	0	28	0
Curtailment gain				0	(6)
Contractual termination benefit	0		0	0	2
Net periodic pension cost	(2)		1	31	1
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Contributions by employer				68
Other Postretirement Benefits Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0		0	2	1
Interest cost	2		3	6	7
Amortization of prior service cost	(1)		(1)	(3)	(3)
Net periodic pension cost	1		2	3	5
U.S. | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	2		2	5	5
Interest cost	10		11	30	33
Expected return on plan assets	(14)		(14)	(43)	(43)
Amortization of actuarial loss	3		3	10	10
Settlement loss	0		0	0	0
Curtailment gain				0	0
Contractual termination benefit	0		0	0	0
Net periodic pension cost	1		2	2	5
Foreign Plan | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1		0	4	2
Interest cost	2		4	10	13
Expected return on plan assets	(4)		(5)	(16)	(17)
Amortization of actuarial loss	0		0	3	2
Settlement loss	(2)		0	28	0
Curtailment gain				0	(6)
Contractual termination benefit	0		0	0	2
Net periodic pension cost	$ (3)		$ (1)	$ 29	$ (4)
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						$ 22

CONTINGENT LIABILITIES AND OT61

CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017USD ($)site	Jun. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)site	Sep. 30, 2016USD ($)
Unusual or Infrequent Item, or Both [Line Items]
Litigation settlement gain, net of legal fees	$ 15		$ 6	$ 68	$ 13
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]
Litigation settlement gain, net of legal fees	$ 0	$ 29	$ 0	$ 29	$ 0
Positive Outcome of Litigation
Unusual or Infrequent Item, or Both [Line Items]
Gain related to litigation settlement		$ 30

STOCK COMPENSATION - Narrative

STOCK COMPENSATION - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Apr. 18, 2013shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares) | shares			0
Vesting period			4 years
Expected volatility rate			26.10%
Risk free interest rate			1.40%
Expected term (in years)			2 years 11 months
Maximum employee subscription rate					85.00%
Employee Stock
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	$ 2
Compensation cost not yet recognized	1		$ 1
Period for recognition (in years)			5 months
Intrinsic value	27		$ 27
Employee emergence equity program expense	1	1	2	2
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense	5	5	16	14
Compensation cost not yet recognized	37		$ 37
Expected term (in years)			2 years 8 months
Vested in period, fair value			$ 18	15
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Allocated share based compensation expense	4	$ 2	$ 12	$ 7
Compensation cost not yet recognized	$ 18		$ 18
Period for recognition (in years)			1 year 8 months 28 days
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 Opti

STOCK COMPENSATION - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance | shares	975,400
Exercised (in shares) | shares	(317,225)
Forfeited (in shares) | shares	(3,250)
Ending Balance | shares	654,925
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance | $ / shares	$ 35.14
Exercised, weighted average exercise price | $ / shares	31.71
Forfeited, weighted average exercise price | $ / shares	37.65
Ending Balance | $ / shares	$ 36.79

STOCK COMPENSATION - Options Ou

STOCK COMPENSATION - Options Outstanding and Exercisable (Details)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Exercise Price Range One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, number of outstanding options | shares	654,925
Weighted average remaining contractual term (in years)	4 years 11 months 12 days
Exercise price range, outstanding options, weighted average exercise price	$ 36.79
Exercise price range, number of exercisable options | shares	587,225
Exercise price range, exercisable options, weighted average remaining contractual term (in years)	4 years 9 months 13 days
Exercise price range, exercisable options, weighted average exercise price	$ 36.69
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, exercisable options, weighted average exercise price	13.89
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, exercisable options, weighted average exercise price	$ 42.16

STOCK COMPENSATION - Restricted

STOCK COMPENSATION - Restricted Stock Activity (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance | shares	1,800,557
Granted (in shares) | shares	486,774
Vested (in shares) | shares	(471,955)
Forfeited (in shares) | shares	(53,913)
Ending Balance | shares	1,761,463
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance | $ / shares	$ 37.78
Granted, weighted average grant date fair value | $ / shares	56.35
Vested, weighted average grant date fair value | $ / shares	38.98
Forfeited, weighted average grant date fair value | $ / shares	44.10
Ending Balance | $ / shares	$ 42.30

STOCK COMPENSATION - Performanc

STOCK COMPENSATION - Performance Stock Units (Details) - Performance Stock Units (PSUs)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance | shares	472,300
Granted (in shares) | shares	221,050
Forfeited (in shares) | shares	(18,052)
Ending Balance | shares	675,298
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance | $ / shares	$ 47.19
Granted, weighted average grant date fair value | $ / shares	59.71
Forfeited, weighted average grant date fair value | $ / shares	48.98
Ending Balance | $ / shares	$ 51.24

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Oct. 24, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Net earnings attributable to Owens Corning	$ 96	$ 112	$ 293	$ 307
Weighted-average number of shares outstanding used for basic earnings per share	111,000,000	114,100,000	111,600,000	114,900,000
Non-vested restricted and performance shares	1,400,000	900,000	1,400,000	800,000
Options to purchase common stock	300,000	400,000	200,000	300,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	112,700,000	115,400,000	113,200,000	116,000,000
Basic (in dollars per share)	$ 0.86	$ 0.98	$ 2.63	$ 2.67
Diluted (in dollars per share)	$ 0.85	$ 0.97	$ 2.59	$ 2.65
Equity Class Of Treasury Stock [Line Items]
Stock repurchased during period, shares			2,300,000
Payments for repurchase of equity			$ 142
Stock repurchase program, remaining number of shares authorized to be repurchased	7,500,000		7,500,000
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

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 32	$ 65	$ 142	$ 172
Effective tax rate	25.00%	37.00%	33.00%	36.00%
Federal statutory tax rate	35.00%	35.00%	35.00%	35.00%

CHANGES IN ACCUMULATED OTHER 69

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance				$ (710)
Amounts classified into AOCI, net of tax		$ 1	$ 1	9	$ (2)
Total AOCI ending balance		(605)	(632)	(605)	(632)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(219)	(226)	(284)	(247)
Net investment hedge amounts classified into AOCI, net of tax		(6)	(3)	(15)	(5)
Gain on foreign currency translation		33	1	107	24
Other Comprehensive Income (Loss), Net of Tax		27	(2)	92	19
Total AOCI ending balance		(192)	(228)	(192)	(228)
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(415)	(409)	(429)	(419)
Other Comprehensive Income (Loss), Net of Tax		2	4	16	14
Amounts reclassified from AOCI to net earnings, net of tax	[1]	4	3	22	3
Amounts classified into AOCI, net of tax		(2)	1	(6)	11
Total AOCI ending balance		(413)	(405)	(413)	(405)
Hedging Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		0	0	3	(4)
Other Comprehensive Income (Loss), Net of Tax		0	1	(3)	5
Amounts reclassified from AOCI to net earnings, net of tax	[2]	0	1	(1)	5
Amounts classified into AOCI, net of tax		0	0	(2)	0
Total AOCI ending balance		$ 0	$ 1	$ 0	$ 1
[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 gain/(loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and are recognized in Cost of sales. See Note 4 for additional information.

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
NET SALES	$ 1,703	$ 1,518	$ 4,778	$ 4,294
COST OF SALES	1,279	1,144	3,602	3,232
Gross margin	424	374	1,176	1,062
Marketing and administrative expenses	160	141	457	426
OPERATING EXPENSES
Science and technology expenses	22	20	64	60
Other expenses, net	15	6	68	13
Total operating expenses	197	167	589	499
EARNINGS BEFORE INTEREST AND TAXES	227	207	587	563
Interest expense, net	28	28	81	80
Loss on extinguishment of debt	71	1	71	1
EARNINGS BEFORE TAXES	128	178	435	482
Income tax expense	32	65	142	172
Equity in net earnings of subsidiaries	0	0	0	0
Equity in net earnings of affiliates	0	0	0	1
NET EARNINGS	96	113	293	311
Net earnings attributable to noncontrolling interests	0	1	0	4
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	96	112	293	307
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
NET SALES	(131)	(133)	(376)	(368)
COST OF SALES	(131)	(133)	(376)	(368)
Gross margin	0	0	0	0
Marketing and administrative expenses	0	0	0	0
OPERATING EXPENSES
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
Loss on extinguishment of debt	0	0	0	0
EARNINGS BEFORE TAXES	0	0	0	0
Income tax expense	0	0	0	0
Equity in net earnings of subsidiaries	(241)	(202)	(555)	(605)
Equity in net earnings of affiliates	0	0	0	0
NET EARNINGS	(241)	(202)	(555)	(605)
Net earnings attributable to noncontrolling interests	0	0	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	(241)	(202)	(555)	(605)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET SALES	1,236	1,106	3,501	3,123
COST OF SALES	945	856	2,692	2,439
Gross margin	291	250	809	684
Marketing and administrative expenses	83	76	246	233
OPERATING EXPENSES
Science and technology expenses	17	17	52	50
Other expenses, net	12	(6)	(18)	31
Total operating expenses	112	87	280	314
EARNINGS BEFORE INTEREST AND TAXES	179	163	529	370
Interest expense, net	0	0	0	(1)
Loss on extinguishment of debt	0	0	0	0
EARNINGS BEFORE TAXES	179	163	529	371
Income tax expense	68	93	200	188
Equity in net earnings of subsidiaries	65	66	113	211
Equity in net earnings of affiliates	0	0	0	0
NET EARNINGS	176	136	442	394
Net earnings attributable to noncontrolling interests	0	0	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	176	136	442	394
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET SALES	0	0	0	0
COST OF SALES	0	0	1	2
Gross margin	0	0	(1)	(2)
Marketing and administrative expenses	37	35	111	103
OPERATING EXPENSES
Science and technology expenses	0	0	0	0
Other expenses, net	(3)	(5)	(1)	(8)
Total operating expenses	34	30	110	95
EARNINGS BEFORE INTEREST AND TAXES	(34)	(30)	(111)	(97)
Interest expense, net	25	28	72	74
Loss on extinguishment of debt	71	1	71	1
EARNINGS BEFORE TAXES	(130)	(59)	(254)	(172)
Income tax expense	(50)	(35)	(105)	(85)
Equity in net earnings of subsidiaries	176	136	442	394
Equity in net earnings of affiliates	0	0	0	0
NET EARNINGS	96	112	293	307
Net earnings attributable to noncontrolling interests	0	0	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	96	112	293	307
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET SALES	598	545	1,653	1,539
COST OF SALES	465	421	1,285	1,159
Gross margin	133	124	368	380
Marketing and administrative expenses	40	30	100	90
OPERATING EXPENSES
Science and technology expenses	5	3	12	10
Other expenses, net	6	17	87	(10)
Total operating expenses	51	50	199	90
EARNINGS BEFORE INTEREST AND TAXES	82	74	169	290
Interest expense, net	3	0	9	7
Loss on extinguishment of debt	0	0	0	0
EARNINGS BEFORE TAXES	79	74	160	283
Income tax expense	14	7	47	69
Equity in net earnings of subsidiaries	0	0	0	0
Equity in net earnings of affiliates	0	0	0	1
NET EARNINGS	65	67	113	215
Net earnings attributable to noncontrolling interests	0	1	0	4
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 65	$ 66	$ 113	$ 211

CONDENSED CONSOLIDATED STATEM71

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	$ 96	$ 113	$ 293	$ 311
Currency translation adjustment (net of tax)	27	(2)	92	19
Pension and other postretirement adjustment (net of tax)	2	4	16	14
Hedging adjustment (net of tax)	0	1	(3)	5
COMPREHENSIVE EARNINGS	125	116	398	349
Comprehensive earnings attributable to noncontrolling interests	0	1	0	4
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	125	115	398	345
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	(241)	(202)	(555)	(605)
Currency translation adjustment (net of tax)	(34)	(2)	(107)	(25)
Pension and other postretirement adjustment (net of tax)	2	(2)	(9)	(26)
Hedging adjustment (net of tax)	0	0	0	(2)
COMPREHENSIVE EARNINGS	(273)	(206)	(671)	(658)
Comprehensive earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	(273)	(206)	(671)	(658)
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	96	112	293	307
Currency translation adjustment (net of tax)	27	(2)	92	19
Pension and other postretirement adjustment (net of tax)	2	4	16	14
Hedging adjustment (net of tax)	0	1	(3)	5
COMPREHENSIVE EARNINGS	125	115	398	345
Comprehensive earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	125	115	398	345
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	176	136	442	394
Currency translation adjustment (net of tax)	0	0	1	(3)
Pension and other postretirement adjustment (net of tax)	(1)	(1)	(4)	22
Hedging adjustment (net of tax)	0	0	0	1
COMPREHENSIVE EARNINGS	175	135	439	414
Comprehensive earnings attributable to noncontrolling interests	0	0	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	175	135	439	414
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	65	67	113	215
Currency translation adjustment (net of tax)	34	2	106	28
Pension and other postretirement adjustment (net of tax)	(1)	3	13	4
Hedging adjustment (net of tax)	0	0	0	1
COMPREHENSIVE EARNINGS	98	72	232	248
Comprehensive earnings attributable to noncontrolling interests	0	1	0	4
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 98	$ 71	$ 232	$ 244

CONDENSED CONSOLIDATED BALANC72

CONDENSED CONSOLIDATED BALANCE SHEET (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 168	$ 112
Receivables, net	916	678
Inventories	793	710
Other current assets	74	74
Total current assets	1,963	1,586
Property, plant and equipment, net	3,314	3,112
Other non-current assets	202	194
TOTAL ASSETS	8,656	7,741
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	1,180	960
Total current liabilities	1,185	963
Long-term debt, net of current portion	2,539	2,099
Deferred income taxes	65	36
Other liabilities	198	164
Redeemable equity	0	2
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	4,074	3,849
Noncontrolling interests	40	40
Total equity	4,114	3,889
TOTAL LIABILITIES AND EQUITY	8,656	7,741
Consolidation, Eliminations
CURRENT ASSETS
Cash and cash equivalents	0	0
Receivables, net	0	0
Due from affiliates	(3,126)	(2,612)
Inventories	0	0
Other current assets	0	0
Total current assets	(3,126)	(2,612)
Investment in subsidiaries	(10,650)	(9,398)
Property, plant and equipment, net	0	0
Goodwill and intangible assets, net	(74)	(117)
Other non-current assets	0	0
TOTAL ASSETS	(13,850)	(12,127)
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	0	0
Due to affiliates	(3,126)	(2,612)
Total current liabilities	(3,126)	(2,612)
Long-term debt, net of current portion	0	0
Deferred income taxes	0	0
Other liabilities	(74)	(117)
Redeemable equity	0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	(10,650)	(9,398)
Noncontrolling interests	0	0
Total equity	(10,650)	(9,398)
TOTAL LIABILITIES AND EQUITY	(13,850)	(12,127)
Parent Company
CURRENT ASSETS
Cash and cash equivalents	0	0
Receivables, net	0	0
Due from affiliates	0	0
Inventories	0	0
Other current assets	16	24
Total current assets	16	24
Investment in subsidiaries	8,667	7,745
Property, plant and equipment, net	466	470
Goodwill and intangible assets, net	0	0
Other non-current assets	(24)	(23)
TOTAL ASSETS	9,125	8,216
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	89	75
Due to affiliates	2,350	1,941
Total current liabilities	2,439	2,016
Long-term debt, net of current portion	2,378	2,069
Deferred income taxes	0	0
Other liabilities	234	282
Redeemable equity	0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	4,074	3,849
Noncontrolling interests	0	0
Total equity	4,074	3,849
TOTAL LIABILITIES AND EQUITY	9,125	8,216
Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents	8	55
Receivables, net	0	0
Due from affiliates	3,126	2,612
Inventories	439	422
Other current assets	29	29
Total current assets	3,602	3,118
Investment in subsidiaries	1,983	1,653
Property, plant and equipment, net	1,656	1,600
Goodwill and intangible assets, net	2,357	2,197
Other non-current assets	339	424
TOTAL ASSETS	9,937	8,992
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	870	834
Due to affiliates	0	0
Total current liabilities	870	834
Long-term debt, net of current portion	11	12
Deferred income taxes	0	0
Other liabilities	389	401
Redeemable equity	0	0
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	8,667	7,745
Noncontrolling interests	0	0
Total equity	8,667	7,745
TOTAL LIABILITIES AND EQUITY	9,937	8,992
Non-Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents	160	57
Receivables, net	916	678
Due from affiliates	0	0
Inventories	354	288
Other current assets	41	33
Total current assets	1,471	1,056
Investment in subsidiaries	0	0
Property, plant and equipment, net	1,192	1,042
Goodwill and intangible assets, net	597	394
Other non-current assets	184	168
TOTAL ASSETS	3,444	2,660
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	226	54
Due to affiliates	776	671
Total current liabilities	1,002	725
Long-term debt, net of current portion	150	18
Deferred income taxes	65	36
Other liabilities	204	186
Redeemable equity	0	2
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	1,983	1,653
Noncontrolling interests	40	40
Total equity	2,023	1,693
TOTAL LIABILITIES AND EQUITY	3,444	2,660
Consolidated G/NG
CURRENT ASSETS
Cash and cash equivalents	168	112
Receivables, net	916	678
Due from affiliates	0	0
Inventories	793	710
Other current assets	86	86
Total current assets	1,963	1,586
Investment in subsidiaries	0	0
Property, plant and equipment, net	3,314	3,112
Goodwill and intangible assets, net	2,880	2,474
Other non-current assets	499	569
TOTAL ASSETS	8,656	7,741
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	1,185	963
Due to affiliates	0	0
Total current liabilities	1,185	963
Long-term debt, net of current portion	2,539	2,099
Deferred income taxes	65	36
Other liabilities	753	752
Redeemable equity	0	2
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	4,074	3,849
Noncontrolling interests	40	40
Total equity	4,114	3,889
TOTAL LIABILITIES AND EQUITY	$ 8,656	$ 7,741

CONDENSED CONSOLIDATED STATEM73

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	$ 694	$ 679
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(249)	(281)
Proceeds from the sale of assets or affiliates	3	0
Investment in subsidiaries and affiliates, net of cash acquired	(566)	(450)
Other	2	2
Net cash flow used for investing activities	(810)	(729)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	588	395
Proceeds from senior revolving credit and receivables securitization facilities	869	574
Proceeds from term loan borrowing	0	300
Payments on term loan borrowing	0	(300)
Payments on senior revolving credit and receivables securitization facilities	(736)	(514)
Payments on long-term debt	(351)	(160)
Net increase (decrease) in short-term debt	2	(5)
Dividends paid	(67)	(61)
Purchases of treasury stock	(159)	(176)
Intercompany dividends paid	0	0
Other intercompany loans	0	0
Other	8	10
Net cash flow provided by financing activities	154	63
Effect of exchange rate changes on cash	19	1
Net increase in cash, cash equivalents and restricted cash	57	14
Cash, cash equivalents and restricted cash at beginning of period	118	96
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	175	110
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
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 term loan borrowing	0	0
Payments on term loan borrowing	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Payments on long-term debt	0	0
Net increase (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 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	343	136
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(49)	(54)
Proceeds from the sale of assets or affiliates	0
Investment in subsidiaries and affiliates, net of cash acquired	(197)	(450)
Other	0	0
Net cash flow used for investing activities	(246)	(504)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	0	0
Proceeds from senior revolving credit and receivables securitization facilities	584	574
Proceeds from term loan borrowing	0	0
Payments on term loan borrowing	0	0
Payments on senior revolving credit and receivables securitization facilities	(451)	(514)
Payments on long-term debt	0	0
Net increase (decrease) in short-term debt	2	(5)
Dividends paid	0	0
Purchases of treasury stock	0	0
Intercompany dividends paid	0	(11)
Other intercompany loans	(147)	348
Other	0	0
Net cash flow provided by financing activities	(12)	392
Effect of exchange rate changes on cash	19	1
Net increase in cash, cash equivalents and restricted cash	104	25
Cash, cash equivalents and restricted cash at beginning of period	57	48
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	161	73
Parent Company
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	(65)	(67)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(8)	(11)
Proceeds from the sale of assets or affiliates	0
Investment in subsidiaries and affiliates, net of cash acquired	0	0
Other	2	2
Net cash flow used for investing activities	(6)	(9)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	588	395
Proceeds from senior revolving credit and receivables securitization facilities	285	0
Proceeds from term loan borrowing	0	300
Payments on term loan borrowing	0	(300)
Payments on senior revolving credit and receivables securitization facilities	(285)	0
Payments on long-term debt	(351)	(160)
Net increase (decrease) in short-term debt	0	0
Dividends paid	(67)	(61)
Purchases of treasury stock	(159)	(176)
Intercompany dividends paid	0	0
Other intercompany loans	52	103
Other	8	10
Net cash flow provided by financing activities	71	111
Effect of exchange rate changes on cash	0	0
Net increase in cash, cash equivalents and restricted cash	0	35
Cash, cash equivalents and restricted cash at beginning of period	6	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	6	35
Guarantor Subsidiaries
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES	416	621
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(192)	(216)
Proceeds from the sale of assets or affiliates	3
Investment in subsidiaries and affiliates, net of cash acquired	(369)	0
Other	0	0
Net cash flow used for investing activities	(558)	(216)
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 term loan borrowing	0	0
Payments on term loan borrowing	0	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Payments on long-term debt	0	0
Net increase (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	95	(451)
Other	0	0
Net cash flow provided by financing activities	95	(451)
Effect of exchange rate changes on cash	0	0
Net increase in cash, cash equivalents and restricted cash	(47)	(46)
Cash, cash equivalents and restricted cash at beginning of period	55	48
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 8	$ 2