Owens Corning (OC) 10-Q 25 Apr 18 2018 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
	Mar. 31, 2018	Apr. 17, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Owens Corning
Entity Central Index Key	1,370,946
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Well Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Common Stock Shares Outstanding		110,703,310

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
NET SALES	$ 1,691	$ 1,478
COST OF SALES	1,336	1,136
Gross margin	355	342
OPERATING EXPENSES
Marketing and administrative expenses	185	142
Science and technology expenses	23	21
Other expenses, net	20	11
Total operating expenses	228	174
OPERATING INCOME	127	168
Non-operating income	(4)	(2)
EARNINGS BEFORE INTEREST AND TAXES	131	170
Interest expense, net	28	26
EARNINGS BEFORE TAXES	103	144
Income tax expense	11	43
NET EARNINGS	92	101
Net earnings attributable to noncontrolling interests	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 92	$ 101
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 0.83	$ 0.90
Diluted (in dollars per share)	0.82	0.89
Dividend (in dollars per share)	$ 0.21	$ 0.2
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	111.5	112.3
Diluted (in shares)	112.8	113.5

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 92	$ 101
Currency translation adjustment (net of tax of $6 and $0 for the three months ended March 31, 2018 and 2017, respectively)	(15)	36
Pension and other postretirement adjustment (net of tax of $(2) and $(1) for the three months ended March 31, 2018 and 2017, respectively)	(2)	0
Hedging adjustment (net of tax of $0 and $1 for the three months ended March 31, 2018 and 2017, respectively)	1	(2)
COMPREHENSIVE EARNINGS	76	135
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 76	$ 135

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Currency translation tax	$ 6	$ 0
Pension and other postretirement tax	(2)	(1)
Hedging tax	$ 0	$ 1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents		$ 140	$ 246
Receivables, less allowances of $21 at March 31, 2018 and $19 at December 31, 2017		1,061	806
Inventories		943	841
Assets held for sale		3	12
Other current assets		81	80
Total current assets		2,228	1,985
Property, plant and equipment, net		3,755	3,425
Goodwill		1,962	1,507
Intangible assets, net		1,872	1,360
Deferred income taxes		155	144
Other non-current assets		241	211
TOTAL ASSETS		10,213	8,632
CURRENT LIABILITIES
Accounts payable and accrued liabilities		1,379	1,277
Short-term debt		1	1
Long-term debt – current portion		4	4
Total current liabilities		1,384	1,282
Long-term debt, net of current portion		3,762	2,405
Pension plan liability		260	256
Other employee benefits liability		222	225
Deferred income taxes		143	37
Other liabilities		301	223
OWENS CORNING STOCKHOLDERS’ EQUITY
Preferred stock, par value $0.01 per share	[1]	0	0
Common stock, par value $0.01 per share	[2]	1	1
Additional paid in capital		3,999	4,011
Accumulated earnings		1,631	1,575
Accumulated other comprehensive deficit		(530)	(514)
Cost of common stock in treasury	[3]	(1,003)	(911)
Total Owens Corning stockholders’ equity		4,098	4,162
Noncontrolling interests		43	42
Total equity		4,141	4,204
TOTAL LIABILITIES AND EQUITY		$ 10,213	$ 8,632
[1]	10 shares authorized; none issued or outstanding at March 31, 2018 and December 31, 2017
[2]	400 shares authorized; 135.5 issued and 111.0 outstanding at March 31, 2018; 135.5 issued and 111.5 outstanding at December 31, 2017
[3]	shares at March 31, 2018, and 24.0 shares at December 31, 2017

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 21	$ 19
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	111,000,000	111,500,000
Treasury stock shares	24,500,000	24,000,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS	$ 92	$ 101
Adjustments to reconcile net earnings to cash (used for) provided by operating activities:
Depreciation and amortization	109	84
Deferred income taxes	1	27
Provision for pension and other employee benefits liabilities	0	2
Stock-based compensation expense	9	10
Other non-cash	(1)	6
Changes in operating assets and liabilities	(284)	(204)
Pension fund contributions	(6)	(6)
Payments for other employee benefits liabilities	(6)	(8)
Other	(4)	(5)
Net cash flow (used for) provided by operating activities	(90)	7
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(101)	(67)
Proceeds from the sale of assets or affiliates	14	0
Investment in subsidiaries and affiliates, net of cash acquired	(1,121)	0
Other	1	0
Net cash flow used for investing activities	(1,207)	(67)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	389	0
Proceeds from senior revolving credit and receivables securitization facilities	565	194
Proceeds from term loan borrowing	600	0
Payments on senior revolving credit and receivables securitization facilities	(197)	(37)
Dividends paid	(46)	(45)
Purchases of treasury stock	(111)	(72)
Other	1	3
Net cash flow provided by financing activities	1,201	43
Effect of exchange rate changes on cash	(10)	6
Net decrease in cash, cash equivalents and restricted cash	(106)	(11)
Cash, cash equivalents and restricted cash at beginning of period	253	118
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 147	$ 107

GENERAL

GENERAL	3 Months Ended
	Mar. 31, 2018
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, 2017 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, 2017 (the "2017 Form 10-K"). Certain reclassifications have been made to the periods presented for 2017 to conform to the classifications used in the periods presented for 2018. 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 , $7 million , $6 million and $6 million as of March 31, 2018 , December 31, 2017 , March 31, 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. Accounting Pronouncements The following table summarizes recent accounting standard updates (ASU) issued by the Financial Accounting Standards Board (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 adopted 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 and 2017-14. 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 The adoption of this standard did not have a material impact on our Consolidated Financial Statements. Please refer to Note 3 of the Consolidated Financial Statements for transition disclosures, as well as other ongoing disclosure requirements. ASU 2016-16 "Income Taxes (Topic 740)" This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. January 1, 2018 The adoption of this standard did not have a material impact on our Consolidated Financial Statements. Please refer to Note 16 for a detailed explanation of the cumulative effect of adoption recognized on January 1, 2018. 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 The adoption of this standard did not have a material effect on our Consolidated Financial Statements for the three months ended March 31, 2018. The standard's retrospective adoption, though, will result in a full-year $60 million reclassification of non-service costs from various financial statement lines to non-operating expense when the remaining periods of 2017 are presented again in future filings, primarily related to pension settlement losses that were recorded in the second and fourth quarters of 2017 (as described in Note 13 of our 2017 Form 10-K). Please refer to Note 12 of the Consolidated Financial Statements for additional detail on this adoption. 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, 2018 The early-adoption of this standard did not have a material impact on our Consolidated Financial Statements. Please refer to Note 5 of the Consolidated Financial Statements for additional detail on this adoption. Recently issued standards: ASU 2016-02 "Leases (Topic 842)," as amended by ASU 2017-13 and 2018-01, and potentially subject to change through the "Targeted Improvements" Proposed ASU exposure draft released on January 5, 2018. 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, the extent to which will be affected by the proposed ASU draft. 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 2017 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 2017 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.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2018
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 insulation 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 2018 2017 Reportable Segments Composites $ 511 $ 511 Insulation 596 399 Roofing 642 627 Total reportable segments 1,749 1,537 Corporate eliminations (58 ) (59 ) NET SALES $ 1,691 $ 1,478 External Customer Sales by Geographic Region United States $ 1,128 $ 1,051 Europe 279 140 Asia-Pacific 142 153 Rest of World 142 134 NET SALES $ 1,691 $ 1,478 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 within Corporate, Other and Eliminations. The following table summarizes EBIT by segment (in millions): Three Months Ended 2018 2017 Reportable Segments Composites $ 60 $ 71 Insulation 32 5 Roofing 97 125 Total reportable segments 189 201 Restructuring costs (5 ) — Acquisition-related costs (14 ) (1 ) Recognition of acquisition inventory fair value step-up (2 ) — General corporate expense and other (37 ) (30 ) Total Corporate, other and eliminations (58 ) (31 ) EBIT $ 131 $ 170

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE ASU 2014-09 Adoption On January 1, 2018, we adopted ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" and the related amendments (collectively "ASC 606"). We used the modified retrospective method of adoption, in which the cumulative effect of initially applying the new standard to existing contracts (as of January 1, 2018) was recorded as a $2 million decrease to the January 1, 2018 opening balance of Accumulated earnings. The effect of this adoption was immaterial to our Consolidated Financial Statements, and we do not expect a material effect to our Consolidated Financial Statements on an ongoing basis. Under the modified retrospective method of adoption, the comparative information in the Consolidated Financial Statements has not been revised and continues to be reported under the previously applicable revenue accounting guidance ("ASC 605"). If ASC 605 had been applied to the first quarter of 2018, Inventories and Accumulated earnings would have been $2 million higher on the Consolidated Balance Sheet with no effect to the Consolidated Statements of Earnings. Revenue Recognition Many of our customer volume commitments are short-term and our performance obligations are generally limited to single purchase orders. Substantially all of our revenue is recognized at a point-in-time when control of goods transfers to the customer. Control transfer typically occurs when goods are shipped from our facilities or at other predetermined control transfer points (for instance, destination terms or consignment arrangements). We have elected to account for shipping and handling activities that occur after control of the related good transfers as fulfillment activities instead of performance obligations. We used the practical expedients to omit the disclosure of remaining performance obligations for contracts with an original expected duration of one year or less and for contracts where we have the right to invoice for performance completed to date. We recognize revenue as the amount of consideration that we expect to receive in exchange for transferring promised goods or services to customers. We do not adjust the transaction price for the effects of a significant financing component, as the time period between control transfer of goods and services and expected payment is one year or less. At the time of sale, we estimate provisions for different forms of variable consideration (discounts, rebates, returns and other refund liabilities) based on historical experience, current conditions and contractual obligations, as applicable. The estimated transaction price is typically not subject to significant reversals. We adjust these estimates when the most likely amount of consideration we expect to receive changes, although these changes are typically minor. During the three months ended March 31, 2018, the adjustments related to performance obligations satisfied in previous periods were immaterial. Sales, value-added and other similar taxes that we collect are excluded from revenue. Disaggregated Revenue The following table shows a disaggregation of Net sales (in millions): For the three months ended March 31, 2018 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 76 $ 222 $ 559 $ (53 ) $ 804 U.S. commercial and industrial 139 147 39 (1 ) 324 Europe 157 119 3 — 279 Asia-Pacific 106 33 3 — 142 Rest of World 33 75 38 (4 ) 142 NET SALES $ 511 $ 596 $ 642 $ (58 ) $ 1,691 Please refer to Note 2 and also Item 1 of our 2017 Form 10-K for further information on our three reportable segments (Composites, Insulation and Roofing). Our contracts with customers are broadly similar in nature throughout our reportable segments, but the amount, timing and uncertainty of revenue and cash flows may vary in each reportable segment due to geographic and end-market economic factors. In the United States, sales are primarily related to the residential housing market and commercial and industrial applications. Residential market demand is driven by housing starts and repair and remodeling activity (influenced by existing home sales, seasonal home improvement and damage from major storms). Significant portions of our residential products are used interchangeably in both new construction and repair and remodeling, and our customers typically distribute (or use) the products for both applications. U.S. commercial and industrial revenues are largely driven by U.S. industrial production growth. Outside of the United States (Europe, Asia-Pacific and Rest of World), sales are primarily related to commercial and industrial applications and, to a lesser extent, residential applications in certain countries. Throughout the international regions, demand is primarily driven by industrial production growth in each respective geographical region. Contract Balances We typically do not satisfy performance obligations without obtaining an unconditional right to payment from customers and, therefore, do not carry contract asset balances on the Consolidated Balance Sheets. Contract liability balances are recorded separately from receivables on the Consolidated Balance Sheets in either Accounts payable and accrued liabilities or Other liabilities, depending on the timing of performance obligation satisfaction. We sell separately-priced warranties that extend certain product and workmanship coverages beyond our standard product warranty, which is described in Note 9. The up-front consideration on extended warranty contracts is deferred and recognized as revenue over time based on the respective coverage period, ranging from 16 to 20 years. On an annual basis, we expect to recognize approximately $2 million of revenue associated with these extended warranty contracts. Additionally, in certain limited cases, we receive consideration before goods or services are transferred to the customer. These customer down payments and deposits are deferred, and typically recognized as revenue in the following quarter when we satisfy the related performance obligations. As of January 1, 2018, our contract liability balances (for extended warranties, down payments and deposits, collectively) totaled $46 million , of which $12 million was recognized as revenue in the first quarter of 2018. During the first quarter of 2018, the contract liability balances increased $5 million due to the acquisition of Paroc Group Oy ("Paroc"). As of March 31, 2018, our contract liability balances totaled $55 million . As a practical expedient, we recognize incremental costs of obtaining a contract, if any, as an expense when incurred if the amortization period of the asset would have been one year or less. We do not have any costs to obtain or fulfill a contract that are capitalized under ASC 606.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): March 31, 2018 December 31, 2017 Finished goods $ 630 $ 562 Materials and supplies 313 279 Total inventories $ 943 $ 841

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to, among other risks, the impact of changes in commodity prices, foreign currency exchange rates, and interest rates in the normal course of business. The Company’s risk management program is designed to manage the exposure and volatility arising from these risks, and utilizes derivative financial instruments to offset a portion of these risks. The Company uses derivative financial instruments only to the extent necessary to hedge identified business risks, and does not enter into such transactions for trading purposes. The Company generally does not require collateral or other security with counterparties to these financial instruments and is therefore subject to credit risk in the event of nonperformance; however, the Company monitors credit risk and currently does not anticipate nonperformance by other parties. Contracts with counterparties generally contain right of offset provisions. These provisions effectively reduce the Company’s exposure to credit risk in situations where the Company has gain and loss positions outstanding with a single counterparty. It is the Company’s policy to offset on the Consolidated Balance Sheets the amounts recognized for derivative instruments with any cash collateral arising from derivative instruments executed with the same counterparty under a master netting agreement. As of March 31, 2018 and December 31, 2017 , 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. During the first quarter of 2018, the Company early-adopted ASU 2017-12, "Derivatives and Hedging (Topic 815)," which was issued with the objective of improving the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements and to make certain targeted improvements to simplify the application of previously applicable hedge accounting guidance. This adoption did not have a material effect on our Consolidated Financial Statements, and did not result in any cumulative adjustment to equity as of the date of adoption. Please refer to the Cash Flow Hedges and Net Investment Hedges paragraphs below for further information. Derivative Fair Values 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 March 31, 2018 December 31, 2017 Derivative assets designated as hedging instruments: Net investment hedges: Cross-currency swaps Other current assets $ 8 $ 7 Cash flow hedges: Natural gas forward swaps Other current assets $ 1 $ 1 Foreign exchange forward contracts Other current assets $ 1 $ — Derivative liabilities designated as hedging instruments: Net investment hedges: Cross-currency swaps Other liabilities $ 63 $ 38 Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ — $ 1 Derivative assets not designated as hedging instruments: Foreign exchange forward contracts Other current assets $ 4 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Accounts payable and accrued liabilities $ 1 $ 1 Consolidated Statements of Earnings Activity The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Location 2018 2017 Derivative activity designated as hedging instruments: Natural gas cash flow hedges: Amount of gain reclassified from AOCI (as defined below) into earnings Cost of sales $ — $ (1 ) Cross-currency swap net investment hedges: Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing Interest expense, net $ (3 ) $ — Derivative activity not designated as hedging instruments: Foreign currency: Amount of gain recognized in earnings (a) Other expenses, net $ (4 ) $ — (a) 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 . Consolidated Statements of Comprehensive Earnings Activity The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (in millions): Three Months Ended March 31, 2018 Hedging Type Derivative Financial Instrument Amount of Gain (Loss) Recognized in Comprehensive Earnings Net investment hedge Cross-currency swaps $ (25 ) Cash flow hedge Natural gas forward swaps $ 1 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 three months and up to 60% of its total forecasted exposure for the following three 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 . As of March 31, 2018, the notional amounts of these natural gas forward swaps was 5 MMBtu (or MMBtu equivalent) based on U.S. and European indices. As of March 31, 2018, the Company had notional amounts of $22 million for derivative financial instruments designated as cash flow hedges for foreign currency exposures in Polish Zloty primarily related to British Pound and European Euro, and also $18 million for exposures in Swedish Krona primarily related to European Euro. 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 change in the fair value of cash flow hedges is deferred in Accumulated other comprehensive income (deficit) ("AOCI") and is subsequently recognized in Cost of sales (for commodity cash flow hedges) or Other expenses, net (for foreign currency cash flow hedges) on the Consolidated Statements of Earnings in order to mirror the location of the hedged items impacting earnings. Cash settlements for commodity and foreign currency hedges qualifying as cash flow hedges are included in Other operating activities in the Consolidated Statements of Cash Flows. As of March 31, 2018 , $1 million of gains are included in AOCI on the Consolidated Balance Sheets relate to natural gas and foreign currency forward 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 has translation exposure resulting from translating the financial statements of foreign subsidiaries into U.S. Dollars, which is recognized in Currency translation adjustment (a component of AOCI). The Company uses cross-currency forward contracts to hedge a portion of the net investment in foreign subsidiaries against fluctuations in foreign exchange rates. As of March 31, 2018, the notional amount of these derivative financial instruments was $516 million related to the U.S Dollar and European Euro. In the first quarter of 2018, we redesignated these derivative financial instruments that qualify as hedges of net investments in foreign operations using the spot method. The changes in fair values of these derivative instruments are recognized in Currency translation adjustment (a component of AOCI), with recognition of the excluded components amortized to Interest expense, net on the Consolidated Statements of Earnings. For the first quarter of 2018, the difference between the change in fair value of the excluded components and the amounts recognized to earnings was a $13 million increase to the net fair value liability. Prior to our first quarter 2018 adoption of ASU 2017-12, all settlements and changes in fair values of these derivative instruments were recognized in Currency translation adjustment (a component of AOCI), and there had been no ineffectiveness on these hedging relationships. 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. As of March 31, 2018, the Company had notional amounts of $707 million for non-designated derivative financial instruments related to foreign currency exposures in U.S. Dollars primarily related to Brazilian Real, Chinese Yuan, European Euro, Indian Rupee, Japanese Yen, and South Korean Won. The growth in notional amounts (as compared to $109 million at December 31, 2017) was primarily related to new derivative financial instruments used to hedge increased European Euro balance sheet exposures following our acquisition of Paroc. In addition, the Company had notional amounts of $93 million for non-designated derivative financial instruments related to foreign currency exposures in European Euro primarily related to the Russian Ruble and Swedish Krona. 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, and are substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures (which are also recorded in Other expenses, net ).

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2018
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): March 31, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 588 $ (116 ) $ 472 Technology 17 328 (120 ) 208 Other 14 61 (27 ) 34 Indefinite-lived intangible assets: Trademarks 1,158 — 1,158 Total intangible assets $ 2,135 $ (263 ) $ 1,872 Goodwill $ 1,962 December 31, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 363 $ (109 ) $ 254 Technology 18 255 (116 ) 139 Other 8 47 (26 ) 21 Indefinite-lived intangible assets: Trademarks 946 — 946 Total intangible assets $ 1,611 $ (251 ) $ 1,360 Goodwill $ 1,507 Goodwill The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying amount. No testing was deemed necessary in the first three months of 2018 . The changes in the net carrying amount of goodwill by segment are as follows (in millions): Composites Insulation Roofing Total Balance at December 31, 2017 $ 58 $ 1,049 $ 400 $ 1,507 Acquisitions (see Note 8) — 452 — 452 Foreign currency translation — 2 1 3 Balance at March 31, 2018 $ 58 $ 1,503 $ 401 $ 1,962 Other Intangible Assets The Other category below primarily includes franchise agreements and quarry 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, 2017 $ 363 $ 255 $ 946 $ 47 $ 1,611 Acquisitions (see Note 8) 225 73 213 7 518 Other additions, net — — — 7 7 Foreign currency translation — — (1 ) — (1 ) Balance at March 31, 2018 $ 588 $ 328 $ 1,158 $ 61 $ 2,135 The estimated amortization expense for intangible assets for the next five years is as follows (in millions): Period Amortization (a) 2019 $ 53 2020 $ 53 2021 $ 52 2022 $ 48 2023 $ 45 (a) The yearly amortization amounts in the table above include approximately $26 million of aggregate amortization expense related to the preliminary purchase price allocations of the acquisitions of Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively, "Pittsburgh Corning") and Paroc. See Note 8 for more details of these acquisitions.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPTMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): March 31, December 31, 2017 Land $ 277 $ 251 Buildings and leasehold improvements 1,023 944 Machinery and equipment 4,460 4,211 Construction in progress 402 350 6,162 5,756 Accumulated depreciation (2,407 ) (2,331 ) Property, plant and equipment, net $ 3,755 $ 3,425 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 12% of total machinery and equipment as of March 31, 2018 and December 31, 2017 , 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	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS Paroc Acquisition On February 5, 2018, the Company acquired all the outstanding equity of Paroc, a leading producer of mineral wool insulation for building and technical applications in Europe, for approximately $1,121 million (approximately 900 million Euro), net of cash acquired. The acquisition of Paroc expands the Company's mineral wool technology, grows its presence in the European insulation market, provides access to a variety of new end-use markets and will increase the Insulation segment's geographic sales mix outside of the U.S. and Canada. Paroc's operating results and a preliminary purchase price allocation have been included in the Company’s Insulation segment within the Consolidated Financial Statements. The Company is continuing to obtain information to complete its valuation of certain assets and liabilities. 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 $ 225 20 Technology - Know-how 63 15 Technology - Patented 10 5 Quarry Rights 7 45 Trademarks 213 Indefinite Total $ 518 During the first three months of 2018, the Consolidated Statements of Earnings included $85 million in Net sales attributable to the acquisition and a $2 million charge related to inventory fair value step-up in Cost of Sales. The acquisition also included Property, plant and equipment, net with a fair value of approximately $315 million . Goodwill has been initially valued at approximately $454 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 acquisition and are expected to accelerate making the Company the leading provider of insulation solutions by building on mineral wool technologies. The Company has not yet assigned the goodwill acquired to a reporting unit. The acquisition also included cash of approximately $17 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. 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. During the quarter ended March 31, 2018, the Company recorded immaterial measurement period adjustments to the purchase price allocation. The following table details the identifiable indefinite and definite-lived intangible assets, 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 three months ended March 31, 2018 , the Consolidated Statements of Earnings included $60 million in Net sales attributable to the Pittsburgh Corning acquisition (related to the one-year post-acquisition period). Goodwill has been initially valued at approximately $154 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 acquisition and are expected to accelerate making the Company the leading provider of insulation solutions by building on core glass technologies. The acquisition also included cash of approximately $52 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. We do not expect those adjustments to be material. The pro forma effect of this acquisition on Net sales and Net earnings attributable to Owens Corning was not material.

WARRANTIES

WARRANTIES	3 Months Ended
	Mar. 31, 2018
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. Please refer to Note 3 for information about our separately-priced extended warranty contracts. A reconciliation of the warranty liability is as follows (in millions): Three Months Ended March 31, 2018 Beginning balance $ 55 Amounts accrued for current year 5 Settlements of warranty claims (2 ) Ending balance $ 58

RESTRUCTURING AND ACQUISITION-R

RESTRUCTURING AND ACQUISITION-RELATED COSTS	3 Months Ended
	Mar. 31, 2018
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 three months of 2018 , the Company incurred $14 million of transaction and integration costs related to its announced acquisitions. Please refer to Note 8 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded within Corporate, Other and Eliminations. 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 three months of 2018 on the Consolidated Statements of Earnings (in millions): Location Paroc Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 4 $ 1 $ 5 Other expenses, net 9 — 9 Total acquisition-related costs $ 13 $ 1 $ 14 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 three months of 2018 , the Company recorded $1 million of accelerated depreciation related to these actions. The Company expects to incur an immaterial amount of incremental costs in the remainder of 2018 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 Thimmapur, India) and North America (Mexico City, Mexico and Brunswick, Maine) and to reposition assets in its Chambery, France operation. During the first three months of 2018 , the Company recorded $4 million of charges, comprised of $1 million of severance, $4 million of accelerated depreciation and a $1 million net benefit from exit activities associated with these actions. The Company expects to recognize approximately $19 million of incremental costs in 2018, of which about $4 million is accelerated depreciation. 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 within Corporate, Other and Eliminations (in millions): Three Months Ended March 31, Type of cost Location 2018 2017 Accelerated depreciation Cost of sales $ 5 $ — Other exit costs Cost of sales 2 — Severance Other expenses, net 1 — Other exit gains Other expenses, net (3 ) — Total restructuring costs $ 5 $ — 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 Total Balance at December 31, 2017 $ 11 $ 9 $ 20 Restructuring costs 4 1 5 Payments (2 ) (2 ) (4 ) Non-cash items and reclassifications to other accounts (1 ) (1 ) (2 ) Balance at March 31, 2018 $ 12 $ 7 $ 19 Cumulative charges incurred $ 33 $ 18 $ 51 As of March 31, 2018 , the remaining liability balance is comprised of $19 million of severance, inclusive of $2 million of non-current severance and $17 million of severance the Company expects to pay over the next twelve months.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2018
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): March 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value 4.20% senior notes, net of discount and financing fees, due 2022 $ 597 103 % $ 597 105 % 4.20% senior notes, net of discount and financing fees, due 2024 392 102 % 392 105 % 3.40% senior notes, net of discount and financing fees, due 2026 395 96 % 395 98 % 7.00% senior notes, net of discount and financing fees, due 2036 400 127 % 400 132 % 4.30% senior notes, net of discount and financing fees, due 2047 588 92 % 588 99 % 4.40% senior notes, net of discount and financing fees, due 2048 389 92 % — n/a Senior revolving credit facility, maturing in 2020 (a) 121 100 % — n/a Receivables securitization facility, maturing in 2020 (a) 247 100 % — n/a Various capital leases, due through and beyond 2050 (a) 31 100 % 31 100 % Term loan borrowing, maturing in 2021 (a) 600 100 % — n/a Unamortized interest rate swap basis adjustment 6 n/a 6 n/a Total long-term debt 3,766 n/a 2,409 n/a Less – current portion (a) 4 100 % 4 100 % Long-term debt, net of current portion $ 3,762 n/a $ 2,405 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 $400 million of 2048 senior notes on January 25, 2018. Interest on the notes is payable semiannually in arrears on January 30 and July 30 each year, beginning on July 30, 2018. The proceeds from these notes were used, along with borrowings on a $600 million term loan commitment and borrowings on the Receivables Securitization Facility (as defined below), to fund the purchase of Paroc in the first quarter of 2018. The Company issued $600 million of 2047 senior notes on June 26, 2017. Interest on the 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 these notes were used to fund the purchase of Pittsburgh Corning in 2017 and for general corporate purposes. The remaining proceeds were used to repay $144 million of our 2019 senior notes and $140 million of our 2036 senior notes. 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. On October 31, 2006, the Company issued $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 (the "Credit Agreement"). The guarantees are unsecured and rank equally in right of payment with all other existing and future senior unsecured indebtedness of the guarantors. The guarantees are effectively subordinated to existing and future secured debt of the guarantors to the extent of the assets securing that indebtedness. The Company has the option to redeem all or part of the Senior Notes at any time at a “make-whole” redemption price. The Company is subject to certain covenants in connection with the issuance of the Senior Notes that it believes are usual and customary. The Company was in compliance with these covenants as of March 31, 2018 . 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 March 31, 2018 . Please refer to the Credit Facility Utilization paragraph below for liquidity information as of March 31, 2018 . Term Loan Commitments The Company obtained two term loan commitments on October 27, 2017 for $300 million and $600 million , respectively, (collectively, the "Term Loan Commitments"), separate from the $600 million of allowable incremental term loans under the Senior Revolving Credit Facility. The Company entered into the Term Loan Commitments, in part, to pay a portion of the purchase price of the Paroc acquisition. In the first quarter of 2018, the Company borrowed on the $600 million term loan commitment, along with borrowings on the Receivables Securitization Facility and the proceeds of the 2048 senior notes, to fund the purchase of Paroc. The $600 million term loan borrowing (the "Term Loan Borrowing") requires full repayment by February 2021. On February 12, 2018, the Company voluntarily reduced the entire $300 million term loan commitment, thus eliminating the availability of credit under the facility. Receivables Securitization Facility Included in long-term debt on the Consolidated Balance Sheets are borrowings outstanding under a Receivables Purchase Agreement (RPA) that are accounted for as secured borrowings in accordance with ASC 860, "Accounting for Transfers and Servicing." Owens Corning Sales, LLC and Owens Corning Receivables LLC, each a subsidiary of the Company, have a $280 million RPA with certain financial institutions. The securitization facility (the "Receivables Securitization Facility") has been amended from time to time, with a maturity date of May 2020. The facility was most recently amended in April 2018 to increase the borrowing limit from $250 million to $280 million . 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 March 31, 2018 . Please refer to the Credit Facility Utilization section below for liquidity information as of March 31, 2018 . 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 March 31, 2018 Term Loan Borrowing Senior Revolving Credit Facility Receivables Securitization Facility Facility size or borrowing limit $ 600 $ 800 $ 250 Collateral capacity limitation on availability n/a n/a — Outstanding borrowings 600 121 247 Outstanding letters of credit n/a 9 3 Availability on facility $ — $ 670 $ — Short-Term Debt Short-term borrowings were $1 million as of March 31, 2018 and December 31, 2017 . The short-term borrowings for both periods consisted of various operating lines of credit and working capital facilities. Certain of these borrowings are collateralized by receivables, inventories or property. The borrowing facilities are typically for one -year renewable terms. The weighted average interest rate on all short-term borrowings was approximately 5.4% and 6.7% for March 31, 2018 and December 31, 2017 , respectively.

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	3 Months Ended
	Mar. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS ASU 2017-07 Adoption On January 1, 2018, we adopted 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. These other components of net benefit cost are now presented in Non-operating income on the Consolidated Statements of Earnings. In accordance with the standard's retrospective adoption requirement, we used an allowable practical expedient that permits the use of amounts disclosed in previous pension and other postretirement benefit plan disclosures as the estimation basis for applying the retrospective presentation requirement. Please refer to the Accounting Pronouncements section of Note 1 for more details on the impact of this adoption. The following table shows the location and impact of the adoption on certain periods of the Consolidated Statements of Earnings: Three Months Ended March 31, 2017 Location Before Adoption Adoption Impact After Adoption Cost of sales $ 1,135 $ 1 $ 1,136 Other expenses, net $ 10 $ 1 $ 11 Non-operating income $ — $ (2 ) $ (2 ) Pension Plans The Company sponsors defined benefit pension plans. Under the plans, pension benefits are based on an employee’s years of service and, for certain categories of employees, qualifying compensation. Company contributions to these pension plans are determined by an independent actuary to meet or exceed minimum funding requirements. In our non-U.S. plans, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average future service period of plan participants expected to receive benefits. In our U.S. plans, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average remaining life expectancy of the inactive participants as substantially all of the plan participants are inactive. The following tables provide information regarding pension expense recognized (in millions): Three Months Ended March 31, 2018 2017 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ 1 $ 3 Interest cost 9 3 12 10 4 14 Expected return on plan assets (14 ) (5 ) (19 ) (14 ) (6 ) (20 ) Amortization of actuarial loss 3 1 4 3 1 4 Net periodic pension cost $ — $ — $ — $ 1 $ — $ 1 The Company expects to contribute approximately $50 million in cash to the U.S. pension plans and another $13 million to non-U.S. plans during 2018 . The Company made cash contributions of $6 million to the plans during the three months ended March 31, 2018 . Postemployment and Postretirement Benefits Other than Pension Plans ("OPEB") 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 2018 2017 Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 Interest cost 2 2 Amortization of prior service cost (1 ) (1 ) Amortization of actuarial loss (2 ) (1 ) Net periodic benefit cost $ — $ 1

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND OTHER MATTERS	CONTINGENT LIABILITIES AND OTHER MATTERS The Company may be involved in various legal and regulatory proceedings relating to employment, antitrust, tax, product liability, environmental and other matters (collectively, “Proceedings”). The Company regularly reviews the status of such Proceedings along with legal counsel. Liabilities for such Proceedings are recorded when it is probable that the liability has been incurred and when the amount of the liability can be reasonably estimated. Liabilities are adjusted when additional information becomes available. Management believes that the amount of any reasonably possible losses in excess of any amounts accrued, if any, with respect to such Proceedings or any other known claim, including the matters described below under the caption Environmental Matters (the “Environmental Matters”), are not material to the Company’s financial statements. Management believes that the ultimate disposition of the Proceedings and the Environmental Matters will not have a material adverse effect on the Company’s financial condition. While the likelihood is remote, the disposition of the Proceedings and Environmental Matters could have a material impact on the results of operations, cash flows or liquidity in any given reporting period. Litigation and Regulatory Proceedings The Company is involved in litigation and regulatory Proceedings from time to time in the regular course of its business. The Company believes that adequate provisions for resolution of all contingencies, claims and pending matters have been made for probable losses that are reasonably estimable. Environmental Matters The Company has established policies and procedures designed to ensure that its operations are conducted in compliance with all relevant laws and regulations and that enable the Company to meet its high standards for corporate sustainability and environmental stewardship. Our manufacturing facilities are subject to numerous foreign, federal, state and local laws and regulations relating to the presence of hazardous materials, pollution and protection of the environment, including emissions to air, discharges to water, management of hazardous materials, handling and disposal of solid wastes, and remediation of contaminated sites. All Company manufacturing facilities operate using an ISO 14001 or equivalent environmental management system. The Company’s 2020 Sustainability Goals require significant global reductions in energy use, water consumption, waste to landfill, and emissions of greenhouse gases, fine particulate matter and toxic air emissions. Owens Corning is involved in remedial response activities and is responsible for environmental remediation at a number of sites, including certain of its currently owned or formerly owned plants. These responsibilities arise under a number of laws, including, but not limited to, the Federal Resource Conservation and Recovery Act, and similar state or local laws pertaining to the management and remediation of hazardous materials and petroleum. The Company has also been named a potentially responsible party under the U.S. Federal Superfund law, or state equivalents, at a number of disposal sites. The Company became involved in these sites as a result of government action or in connection with business acquisitions. As of March 31, 2018 , the Company was involved with a total of 22 sites worldwide, including 7 Superfund sites and 15 owned or formerly owned sites. None of the liabilities for these sites are individually significant to the Company. Remediation activities generally involve a potential range of activities and costs related to soil and groundwater contamination. This can include pre-cleanup activities such as fact finding and investigation, risk assessment, feasibility studies, remedial action design and implementation (where actions may range from monitoring to removal of contaminants, to installation of longer-term remediation systems). A number of factors affect the cost of environmental remediation, including the number of parties involved in a particular site, the determination of the extent of contamination, the length of time the remediation may require, the complexity of environmental regulations, variability in clean-up standards, the need for legal action, and changes in remediation technology. Taking these factors into account, Owens Corning has predicted the costs of remediation reasonably estimated to be paid over a period of years. The Company accrues an amount on an undiscounted basis, consistent with the reasonable estimates of these costs when it is probable that a liability has been incurred. Actual cost may differ from these estimates for the reasons mentioned above. At March 31, 2018 , the Company had an accrual totaling $17 million for these costs, of which the current portion is $11 million . Changes in required remediation procedures or timing of those procedures, or discovery of contamination at additional sites, could result in material increases to the Company’s environmental obligations.

STOCK COMPENSATION

STOCK COMPENSATION	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 , the number of shares remaining available under the 2016 Stock Plan for all stock awards was 2.5 million . Stock Options The Company did not grant any stock options during the three months ended March 31, 2018 . The Company calculates a weighted-average grant-date fair value using a Black-Scholes valuation model for options granted. Compensation expense for options is measured based on the fair market value of the option on the date of grant, and is recognized on a straight-line basis over a four -year vesting period. In general, the exercise price of each option awarded was equal to the market price of the Company’s common stock on the date of grant, and an option’s maximum term is 10 years. During the three months ended March 31, 2018 and March 31, 2017 , the Company recognized expense of less than $1 million related to the Company's stock options. As of March 31, 2018 , there was no unrecognized compensation cost related to stock options. The total aggregate intrinsic value of options outstanding as of March 31, 2018 was $21 million . The following table summarizes the Company’s stock option activity: Three Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 518,725 $ 37.17 Exercised (26,350 ) 36.20 Forfeited (750 ) 37.65 Ending Balance 491,625 $ 37.23 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at March 31, 2018 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89 - $42.16 491,625 4.69 $ 37.23 491,625 4.69 $ 37.23 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. During the three months ended March 31, 2018 , the Company recognized expense of $5 million related to the Company's restricted stock. During the three months ended March 31, 2017 , the Company recognized expense of $5 million related to the Company's restricted stock. As of March 31, 2018 , there was $48 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.95 years. The total fair value of shares vested during the three months ended March 31, 2018 and 2017 was $17 million and $16 million , respectively. The following table summarizes the Company’s restricted stock activity: Three Months Ended March 31, 2018 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,752,136 $ 42.40 Granted 260,977 92.65 Vested (395,002 ) 44.20 Forfeited (18,612 ) 47.61 Ending Balance 1,599,499 $ 50.09 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 is contingent on meeting internal company-based metrics or an external-based stock performance metric. In the three months ended March 31, 2018 , the Company granted both internal company-based and external-based metric PSUs. Internal based metrics The internal company-based metrics are based on various Company metrics and typically vest over a three-year period. The amount of stock distributed will vary from 0% to 300% of PSUs awarded depending on each award's 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 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 vesting period. External-based metrics The external-based metrics vest after a three -year period. Outstanding grants issued in 2016 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 or Dow Jones Construction and Materials 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 2018 uses various assumptions that include expected volatility of 24.6% , and a risk free interest rate of 2.2% , 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 months ended March 31, 2018 and March 31, 2017 , the Company recognized expense of $3 million related to the Company's PSUs. As of March 31, 2018 , there was $27 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 2.61 years. The following table summarizes the Company’s PSU activity: Three Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 451,148 $ 53.96 Granted 171,725 93.25 Forfeited (3,672 ) 49.52 Ending Balance 619,201 $ 64.88 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 March 31, 2018 , 1.0 million shares remain available for purchase. During the three months ended March 31, 2018 and March 31, 2017 , the Company recognized expense of $1 million related to the Company's ESPP. As of March 31, 2018 , there was $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2018
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 2018 2017 Net earnings attributable to Owens Corning $ 92 $ 101 Weighted-average number of shares outstanding used for basic earnings per share 111.5 112.3 Non-vested restricted and performance shares 1.0 0.9 Options to purchase common stock 0.3 0.3 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 112.8 113.5 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.83 $ 0.90 Diluted $ 0.82 $ 0.89 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 1.0 million shares of its common stock for $83 million during the three months ended March 31, 2018 under the Repurchase Authorization. As of March 31, 2018 , 6.5 million shares remain available for repurchase under the Repurchase Authorization. For the three months ended March 31, 2018 , the number of shares used in the calculation of diluted earnings per share did not include 0.3 million non-vested restricted shares and 0.1 million non-vested performance shares, due to their anti-dilutive effect. For the three months ended March 31, 2017 , 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	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 Income tax expense $ 11 $ 43 Effective tax rate 11 % 30 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 21% for the three months ended March 31, 2018 is primarily due to excess tax benefits related to stock compensation, the impact of higher 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 months ended March 31, 2017 is primarily due to the benefit of lower foreign tax rates and other discrete adjustments. During the first quarter of 2018, the Company adopted ASU No. 2016-16, “Intra-Entity Transfers of Assets Other Than Inventory (Topic 740).” Under this standard, the tax effects of intra-entity sales of assets other than inventory will be recognized immediately in the seller's tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The standard is applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the year of adoption. As of January 1, 2018, we recorded a $17 million decrease in Other non-current assets, a $7 million increase in Deferred income tax assets and a $10 million decrease to Accumulated earnings. The U.S. government enacted tax legislation commonly known as the U.S. Tax Cuts and Jobs Act of 2017 on December 22, 2017 (the "Tax Act"). The Tax Act made broad and complex changes to the U.S. tax code, including but not limited to, a reduction to the U.S. federal corporate income tax rate from 35% to 21% ; a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries (the "Transition Tax”); eliminating the corporate alternative minimum tax (AMT) and changing realization of AMT credits; changing rules related to uses and limitations of net operating loss (NOL) carryforwards created in tax years after December 31, 2017; changes to the limitations on available interest expense deductions; and changes to other existing deductions and business-related exclusions. The SEC issued Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act" ("SAB 118"), which provides guidance on the accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date to complete the accounting under ASC 740, "Income Taxes." The Company's accounting for the income tax effects of the Tax Act is incomplete. In accordance with SAB 118, we were able to make reasonable estimates on certain effects of the Tax Act resulting in a total provisional charge to the financial statements as of December 31, 2017. There have been no material changes to the provisional charges as disclosed in our 2017 Form 10-K. The Company was not yet able to make a reasonable estimate of the U.S. state tax effects of the Tax Act. Therefore, no provisional adjustment was recorded with respect to this item. We are continuing to evaluate the estimates used to record and disclose the effects of the Tax Act. Effective January 1, 2018, the Tax Act creates a new requirement to include in U.S. income global intangible low-taxed income (GILTI) earned by controlled foreign corporations (CFCs). The GILTI must be included currently in the gross income of the CFCs’ U.S. shareholder. Under U.S. GAAP, we are allowed to make an accounting policy choice of either (1) treating taxes due on future U.S. inclusions related to GILTI as a current-period expense when incurred (the “period cost method”) or (2) factoring such amounts into a company’s measurement of its deferred taxes (the “deferred method”). During the first quarter of 2018, we selected the period cost method in recording the tax effects of GILTI in our financial statements. The Company's analysis whether to change its indefinite reinvestment assertion on account of the Tax Act is incomplete. Therefore, we continue to assert indefinite reinvestment in accordance with ASC 740 based on the laws before enactment of the Tax Act.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT	3 Months Ended
	Mar. 31, 2018
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) (in millions): Three Months Ended March 31, 2018 2017 Currency Translation Adjustment Beginning balance $ (183 ) $ (284 ) Net investment hedge amounts classified into AOCI, net of tax (19 ) — Gain on foreign currency translation 4 36 Other comprehensive (loss)/income, net of tax (15 ) 36 Ending balance $ (198 ) $ (248 ) Pension and Other Postretirement Adjustment Beginning balance $ (331 ) $ (429 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 1 1 Amounts classified into AOCI, net of tax (3 ) (1 ) Other comprehensive income, net of tax (2 ) — Ending balance $ (333 ) $ (429 ) Hedging Adjustment Beginning balance $ — $ 3 Amounts reclassified from AOCI to net earnings, net of tax (b) — (1 ) Amounts classified into AOCI, net of tax 1 (1 ) Other comprehensive income/(loss), net of tax 1 (2 ) Ending balance $ 1 $ 1 Total AOCI ending balance $ (530 ) $ (676 ) (a) These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in Non-operating income. See Note 12 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 5 for additional information.

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2018
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 MARCH 31, 2018 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,172 $ 659 $ (140 ) $ 1,691 COST OF SALES 2 960 514 (140 ) 1,336 Gross margin (2 ) 212 145 — 355 OPERATING EXPENSES Marketing and administrative expenses 41 86 58 — 185 Science and technology expenses — 19 4 — 23 Other expenses, net 4 9 7 — 20 Total operating expenses 45 114 69 — 228 OPERATING INCOME (47 ) 98 76 — 127 Non-operating income (2 ) (1 ) (1 ) — (4 ) EARNINGS BEFORE INTEREST AND TAXES (45 ) 99 77 — 131 Interest expense, net 20 (1 ) 9 — 28 EARNINGS BEFORE TAXES (65 ) 100 68 — 103 Income tax expense (30 ) 25 16 — 11 Equity in net earnings of subsidiaries 127 52 — (179 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 92 127 52 (179 ) 92 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 92 $ 127 $ 52 $ (179 ) $ 92 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,094 $ 511 $ (127 ) $ 1,478 COST OF SALES 1 867 395 (127 ) 1,136 Gross margin (1 ) 227 116 — 342 OPERATING EXPENSES Marketing and administrative expenses 36 77 29 — 142 Science and technology expenses — 17 4 — 21 Other expenses, net (2 ) 10 3 — 11 Total operating expenses 34 104 36 — 174 OPERATING INCOME (35 ) 123 80 — 168 Non-operating income — (2 ) — — (2 ) EARNINGS BEFORE INTEREST AND TAXES (35 ) 125 80 — 170 Interest expense, net 23 — 3 — 26 EARNINGS BEFORE TAXES (58 ) 125 77 — 144 Income tax expense (28 ) 50 21 — 43 Equity in net earnings of subsidiaries 131 56 — (187 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 101 131 56 (187 ) 101 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 101 $ 131 $ 56 $ (187 ) $ 101 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2018 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 92 $ 127 $ 52 $ (179 ) $ 92 Currency translation adjustment (net of tax) (15 ) 1 4 (5 ) (15 ) Pension and other postretirement adjustment (net of tax) (2 ) (4 ) (1 ) 5 (2 ) Hedging adjustment (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 76 124 55 (179 ) 76 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 76 $ 124 $ 55 $ (179 ) $ 76 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 101 $ 131 $ 56 $ (187 ) $ 101 Currency translation adjustment (net of tax) 36 1 36 (37 ) 36 Pension and other postretirement adjustment (net of tax) — (1 ) (2 ) 3 — Hedging adjustment (net of tax) (2 ) — — — (2 ) COMPREHENSIVE EARNINGS 135 131 90 (221 ) 135 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 135 $ 131 $ 90 $ (221 ) $ 135 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2018 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 11 $ 129 $ — $ 140 Receivables, net — — 1,061 — 1,061 Due from affiliates — 3,089 — (3,089 ) — Inventories — 501 442 — 943 Other current assets 24 27 33 — 84 Total current assets 24 3,628 1,665 (3,089 ) 2,228 Investment in subsidiaries 8,891 2,095 — (10,986 ) — Property, plant and equipment, net 466 1,687 1,602 — 3,755 Goodwill and intangible assets, net — 2,376 1,522 (64 ) 3,834 Other non-current assets (22 ) 222 196 — 396 TOTAL ASSETS $ 9,359 $ 10,008 $ 4,985 $ (14,139 ) $ 10,213 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 89 $ 726 $ 569 $ — $ 1,384 Due to affiliates 1,445 — 1,644 (3,089 ) — Total current liabilities 1,534 726 2,213 (3,089 ) 1,384 Long-term debt, net of current portion 3,489 10 263 — 3,762 Deferred income taxes — — 143 — 143 Other liabilities 238 381 228 (64 ) 783 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 4,098 8,891 2,095 (10,986 ) 4,098 Noncontrolling interests — — 43 — 43 Total equity 4,098 8,891 2,138 (10,986 ) 4,141 TOTAL LIABILITIES AND EQUITY $ 9,359 $ 10,008 $ 4,985 $ (14,139 ) $ 10,213 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ 137 $ 2 $ 107 $ — $ 246 Receivables, net — — 806 — 806 Due from affiliates — 3,403 — (3,403 ) — Inventories — 475 366 — 841 Other current assets 22 28 42 — 92 Total current assets 159 3,908 1,321 (3,403 ) 1,985 Investment in subsidiaries 8,777 2,040 — (10,817 ) — Property, plant and equipment, net 465 1,699 1,261 — 3,425 Goodwill and intangible assets, net — 2,383 553 (69 ) 2,867 Other non-current assets (24 ) 221 158 — 355 TOTAL ASSETS $ 9,377 $ 10,251 $ 3,293 $ (14,289 ) $ 8,632 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 87 $ 1,083 $ 112 $ — $ 1,282 Due to affiliates 2,529 — 874 (3,403 ) — Total current liabilities 2,616 1,083 986 (3,403 ) 1,282 Long-term debt, net of current portion 2,378 10 17 — 2,405 Deferred income taxes — — 37 — 37 Other liabilities 221 381 171 (69 ) 704 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 4,162 8,777 2,040 (10,817 ) 4,162 Noncontrolling interests — — 42 — 42 Total equity 4,162 8,777 2,082 (10,817 ) 4,204 TOTAL LIABILITIES AND EQUITY $ 9,377 $ 10,251 $ 3,293 $ (14,289 ) $ 8,632 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2018 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES $ (22 ) $ (123 ) $ 55 $ — $ (90 ) NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (1 ) (59 ) (41 ) — (101 ) Proceeds from the sale of assets or affiliates — — 14 — 14 Investment in subsidiaries and affiliates, net of cash acquired — — (1,121 ) — (1,121 ) Other 1 — — — 1 Net cash flow used for investing activities — (59 ) (1,148 ) — (1,207 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 389 — — — 389 Proceeds from senior revolving credit and receivables securitization facilities 276 — 289 — 565 Proceeds from term loan borrowing 600 — — — 600 Payments on senior revolving credit and receivables securitization facilities (155 ) — (42 ) — (197 ) Dividends paid (46 ) — — — (46 ) Purchases of treasury stock (111 ) — — — (111 ) Other intercompany loans (1,068 ) 191 877 — — Other 1 — — — 1 Net cash flow provided by financing activities (114 ) 191 1,124 — 1,201 Effect of exchange rate changes on cash — — (10 ) — (10 ) Net decrease in cash, cash equivalents and restricted cash (136 ) 9 21 — (106 ) Cash, cash equivalents and restricted cash at beginning of period 143 2 108 — 253 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 7 $ 11 $ 129 $ — $ 147 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES $ (8 ) $ (52 ) $ 67 $ — $ 7 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment — (52 ) (15 ) — (67 ) Investment in subsidiaries and affiliates, net of cash acquired — — — — — Other — — — — — Net cash flow used for investing activities — (52 ) (15 ) — (67 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities — — 194 — 194 Payments on senior revolving credit and receivables securitization facilities — — (37 ) — (37 ) Dividends paid (45 ) — — — (45 ) Purchases of treasury stock (72 ) — — — (72 ) Other intercompany loans 122 50 (172 ) — — Other 3 — — — 3 Net cash flow provided by financing activities 8 50 (15 ) — 43 Effect of exchange rate changes on cash — — 6 — 6 Net decrease in cash, cash equivalents and restricted cash — (54 ) 43 — (11 ) 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 $ 1 $ 100 $ — $ 107

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2018
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 2018 2017 Reportable Segments Composites $ 511 $ 511 Insulation 596 399 Roofing 642 627 Total reportable segments 1,749 1,537 Corporate eliminations (58 ) (59 ) NET SALES $ 1,691 $ 1,478
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 1,128 $ 1,051 Europe 279 140 Asia-Pacific 142 153 Rest of World 142 134 NET SALES $ 1,691 $ 1,478
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended 2018 2017 Reportable Segments Composites $ 60 $ 71 Insulation 32 5 Roofing 97 125 Total reportable segments 189 201 Restructuring costs (5 ) — Acquisition-related costs (14 ) (1 ) Recognition of acquisition inventory fair value step-up (2 ) — General corporate expense and other (37 ) (30 ) Total Corporate, other and eliminations (58 ) (31 ) EBIT $ 131 $ 170

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table shows a disaggregation of Net sales (in millions): For the three months ended March 31, 2018 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 76 $ 222 $ 559 $ (53 ) $ 804 U.S. commercial and industrial 139 147 39 (1 ) 324 Europe 157 119 3 — 279 Asia-Pacific 106 33 3 — 142 Rest of World 33 75 38 (4 ) 142 NET SALES $ 511 $ 596 $ 642 $ (58 ) $ 1,691

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): March 31, 2018 December 31, 2017 Finished goods $ 630 $ 562 Materials and supplies 313 279 Total inventories $ 943 $ 841

DERIVATIVE FINANCIAL INSTRUME29

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities at Fair Value	The following table presents the fair value of derivatives and hedging instruments and the respective location on the Consolidated Balance Sheets (in millions): Fair Value at Location March 31, 2018 December 31, 2017 Derivative assets designated as hedging instruments: Net investment hedges: Cross-currency swaps Other current assets $ 8 $ 7 Cash flow hedges: Natural gas forward swaps Other current assets $ 1 $ 1 Foreign exchange forward contracts Other current assets $ 1 $ — Derivative liabilities designated as hedging instruments: Net investment hedges: Cross-currency swaps Other liabilities $ 63 $ 38 Cash flow hedges: Natural gas forward swaps Accounts payable and accrued liabilities $ — $ 1 Derivative assets not designated as hedging instruments: Foreign exchange forward contracts Other current assets $ 4 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Accounts payable and accrued liabilities $ 1 $ 1
Schedule of Fair Value Derivative Instruments Statements of Earnings Location	The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (in millions): Three Months Ended March 31, 2018 Hedging Type Derivative Financial Instrument Amount of Gain (Loss) Recognized in Comprehensive Earnings Net investment hedge Cross-currency swaps $ (25 ) Cash flow hedge Natural gas forward swaps $ 1 The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Location 2018 2017 Derivative activity designated as hedging instruments: Natural gas cash flow hedges: Amount of gain reclassified from AOCI (as defined below) into earnings Cost of sales $ — $ (1 ) Cross-currency swap net investment hedges: Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing Interest expense, net $ (3 ) $ — Derivative activity not designated as hedging instruments: Foreign currency: Amount of gain recognized in earnings (a) Other expenses, net $ (4 ) $ — (a) 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)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-lived Intangible Assets Amortization Expense	The estimated amortization expense for intangible assets for the next five years is as follows (in millions): Period Amortization (a) 2019 $ 53 2020 $ 53 2021 $ 52 2022 $ 48 2023 $ 45 Intangible assets and goodwill consist of the following (in millions): March 31, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 588 $ (116 ) $ 472 Technology 17 328 (120 ) 208 Other 14 61 (27 ) 34 Indefinite-lived intangible assets: Trademarks 1,158 — 1,158 Total intangible assets $ 2,135 $ (263 ) $ 1,872 Goodwill $ 1,962 December 31, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 363 $ (109 ) $ 254 Technology 18 255 (116 ) 139 Other 8 47 (26 ) 21 Indefinite-lived intangible assets: Trademarks 946 — 946 Total intangible assets $ 1,611 $ (251 ) $ 1,360 Goodwill $ 1,507 The following table details the identifiable indefinite and definite-lived intangible assets, 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 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 $ 225 20 Technology - Know-how 63 15 Technology - Patented 10 5 Quarry Rights 7 45 Trademarks 213 Indefinite Total $ 518
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, 2017 $ 363 $ 255 $ 946 $ 47 $ 1,611 Acquisitions (see Note 8) 225 73 213 7 518 Other additions, net — — — 7 7 Foreign currency translation — — (1 ) — (1 ) Balance at March 31, 2018 $ 588 $ 328 $ 1,158 $ 61 $ 2,135
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, 2017 $ 58 $ 1,049 $ 400 $ 1,507 Acquisitions (see Note 8) — 452 — 452 Foreign currency translation — 2 1 3 Balance at March 31, 2018 $ 58 $ 1,503 $ 401 $ 1,962

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): March 31, December 31, 2017 Land $ 277 $ 251 Buildings and leasehold improvements 1,023 944 Machinery and equipment 4,460 4,211 Construction in progress 402 350 6,162 5,756 Accumulated depreciation (2,407 ) (2,331 ) Property, plant and equipment, net $ 3,755 $ 3,425

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Finite-lived Intangible Assets Amortization Expense	The estimated amortization expense for intangible assets for the next five years is as follows (in millions): Period Amortization (a) 2019 $ 53 2020 $ 53 2021 $ 52 2022 $ 48 2023 $ 45 Intangible assets and goodwill consist of the following (in millions): March 31, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 588 $ (116 ) $ 472 Technology 17 328 (120 ) 208 Other 14 61 (27 ) 34 Indefinite-lived intangible assets: Trademarks 1,158 — 1,158 Total intangible assets $ 2,135 $ (263 ) $ 1,872 Goodwill $ 1,962 December 31, 2017 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 363 $ (109 ) $ 254 Technology 18 255 (116 ) 139 Other 8 47 (26 ) 21 Indefinite-lived intangible assets: Trademarks 946 — 946 Total intangible assets $ 1,611 $ (251 ) $ 1,360 Goodwill $ 1,507 The following table details the identifiable indefinite and definite-lived intangible assets, 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 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 $ 225 20 Technology - Know-how 63 15 Technology - Patented 10 5 Quarry Rights 7 45 Trademarks 213 Indefinite Total $ 518

WARRANTIES (Tables)

WARRANTIES (Tables)	3 Months Ended
	Mar. 31, 2018
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. Please refer to Note 3 for information about our separately-priced extended warranty contracts. A reconciliation of the warranty liability is as follows (in millions): Three Months Ended March 31, 2018 Beginning balance $ 55 Amounts accrued for current year 5 Settlements of warranty claims (2 ) Ending balance $ 58

RESTRUCTURING AND ACQUISITION34

RESTRUCTURING AND ACQUISITION-RELATED COSTS (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Acquisition-Related Costs During the first three months of 2018 , the Company incurred $14 million of transaction and integration costs related to its announced acquisitions. Please refer to Note 8 of the Consolidated Financial Statements for further information on these acquisitions. These costs are recorded within Corporate, Other and Eliminations. 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 three months of 2018 on the Consolidated Statements of Earnings (in millions): Location Paroc Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 4 $ 1 $ 5 Other expenses, net 9 — 9 Total acquisition-related costs $ 13 $ 1 $ 14
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 within Corporate, Other and Eliminations (in millions): Three Months Ended March 31, Type of cost Location 2018 2017 Accelerated depreciation Cost of sales $ 5 $ — Other exit costs Cost of sales 2 — Severance Other expenses, net 1 — Other exit gains Other expenses, net (3 ) — Total restructuring costs $ 5 $ —
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 Total Balance at December 31, 2017 $ 11 $ 9 $ 20 Restructuring costs 4 1 5 Payments (2 ) (2 ) (4 ) Non-cash items and reclassifications to other accounts (1 ) (1 ) (2 ) Balance at March 31, 2018 $ 12 $ 7 $ 19 Cumulative charges incurred $ 33 $ 18 $ 51 As of March 31, 2018 , the remaining liability balance is comprised of $19 million of severance, inclusive of $2 million of non-current severance and $17 million of severance the Company expects to pay over the next twelve months.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2018
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): March 31, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value 4.20% senior notes, net of discount and financing fees, due 2022 $ 597 103 % $ 597 105 % 4.20% senior notes, net of discount and financing fees, due 2024 392 102 % 392 105 % 3.40% senior notes, net of discount and financing fees, due 2026 395 96 % 395 98 % 7.00% senior notes, net of discount and financing fees, due 2036 400 127 % 400 132 % 4.30% senior notes, net of discount and financing fees, due 2047 588 92 % 588 99 % 4.40% senior notes, net of discount and financing fees, due 2048 389 92 % — n/a Senior revolving credit facility, maturing in 2020 (a) 121 100 % — n/a Receivables securitization facility, maturing in 2020 (a) 247 100 % — n/a Various capital leases, due through and beyond 2050 (a) 31 100 % 31 100 % Term loan borrowing, maturing in 2021 (a) 600 100 % — n/a Unamortized interest rate swap basis adjustment 6 n/a 6 n/a Total long-term debt 3,766 n/a 2,409 n/a Less – current portion (a) 4 100 % 4 100 % Long-term debt, net of current portion $ 3,762 n/a $ 2,405 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 March 31, 2018 Term Loan Borrowing Senior Revolving Credit Facility Receivables Securitization Facility Facility size or borrowing limit $ 600 $ 800 $ 250 Collateral capacity limitation on availability n/a n/a — Outstanding borrowings 600 121 247 Outstanding letters of credit n/a 9 3 Availability on facility $ — $ 670 $ —

PENSION PLANS AND OTHER POSTR36

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Prospective Adoption of New Accounting Pronouncements	The following table shows the location and impact of the adoption on certain periods of the Consolidated Statements of Earnings: Three Months Ended March 31, 2017 Location Before Adoption Adoption Impact After Adoption Cost of sales $ 1,135 $ 1 $ 1,136 Other expenses, net $ 10 $ 1 $ 11 Non-operating income $ — $ (2 ) $ (2 )
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 March 31, 2018 2017 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 2 $ 1 $ 3 $ 2 $ 1 $ 3 Interest cost 9 3 12 10 4 14 Expected return on plan assets (14 ) (5 ) (19 ) (14 ) (6 ) (20 ) Amortization of actuarial loss 3 1 4 3 1 4 Net periodic pension cost $ — $ — $ — $ 1 $ — $ 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 2018 2017 Components of Net Periodic Benefit Cost Service cost $ 1 $ 1 Interest cost 2 2 Amortization of prior service cost (1 ) (1 ) Amortization of actuarial loss (2 ) (1 ) Net periodic benefit cost $ — $ 1

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the Company’s stock option activity: Three Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 518,725 $ 37.17 Exercised (26,350 ) 36.20 Forfeited (750 ) 37.65 Ending Balance 491,625 $ 37.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable	The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at March 31, 2018 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price $13.89 - $42.16 491,625 4.69 $ 37.23 491,625 4.69 $ 37.23
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the Company’s restricted stock activity: Three Months Ended March 31, 2018 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,752,136 $ 42.40 Granted 260,977 92.65 Vested (395,002 ) 44.20 Forfeited (18,612 ) 47.61 Ending Balance 1,599,499 $ 50.09
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: Three Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 451,148 $ 53.96 Granted 171,725 93.25 Forfeited (3,672 ) 49.52 Ending Balance 619,201 $ 64.88

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2018
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 2018 2017 Net earnings attributable to Owens Corning $ 92 $ 101 Weighted-average number of shares outstanding used for basic earnings per share 111.5 112.3 Non-vested restricted and performance shares 1.0 0.9 Options to purchase common stock 0.3 0.3 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 112.8 113.5 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 0.83 $ 0.90 Diluted $ 0.82 $ 0.89

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 Income tax expense $ 11 $ 43 Effective tax rate 11 % 30 %

CHANGES IN ACCUMULATED OTHER 40

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (deficit) (in millions): Three Months Ended March 31, 2018 2017 Currency Translation Adjustment Beginning balance $ (183 ) $ (284 ) Net investment hedge amounts classified into AOCI, net of tax (19 ) — Gain on foreign currency translation 4 36 Other comprehensive (loss)/income, net of tax (15 ) 36 Ending balance $ (198 ) $ (248 ) Pension and Other Postretirement Adjustment Beginning balance $ (331 ) $ (429 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 1 1 Amounts classified into AOCI, net of tax (3 ) (1 ) Other comprehensive income, net of tax (2 ) — Ending balance $ (333 ) $ (429 ) Hedging Adjustment Beginning balance $ — $ 3 Amounts reclassified from AOCI to net earnings, net of tax (b) — (1 ) Amounts classified into AOCI, net of tax 1 (1 ) Other comprehensive income/(loss), net of tax 1 (2 ) Ending balance $ 1 $ 1 Total AOCI ending balance $ (530 ) $ (676 ) (a) These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in Non-operating income. See Note 12 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 5 for additional information.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
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 MARCH 31, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,094 $ 511 $ (127 ) $ 1,478 COST OF SALES 1 867 395 (127 ) 1,136 Gross margin (1 ) 227 116 — 342 OPERATING EXPENSES Marketing and administrative expenses 36 77 29 — 142 Science and technology expenses — 17 4 — 21 Other expenses, net (2 ) 10 3 — 11 Total operating expenses 34 104 36 — 174 OPERATING INCOME (35 ) 123 80 — 168 Non-operating income — (2 ) — — (2 ) EARNINGS BEFORE INTEREST AND TAXES (35 ) 125 80 — 170 Interest expense, net 23 — 3 — 26 EARNINGS BEFORE TAXES (58 ) 125 77 — 144 Income tax expense (28 ) 50 21 — 43 Equity in net earnings of subsidiaries 131 56 — (187 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 101 131 56 (187 ) 101 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 101 $ 131 $ 56 $ (187 ) $ 101 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2018 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET SALES $ — $ 1,172 $ 659 $ (140 ) $ 1,691 COST OF SALES 2 960 514 (140 ) 1,336 Gross margin (2 ) 212 145 — 355 OPERATING EXPENSES Marketing and administrative expenses 41 86 58 — 185 Science and technology expenses — 19 4 — 23 Other expenses, net 4 9 7 — 20 Total operating expenses 45 114 69 — 228 OPERATING INCOME (47 ) 98 76 — 127 Non-operating income (2 ) (1 ) (1 ) — (4 ) EARNINGS BEFORE INTEREST AND TAXES (45 ) 99 77 — 131 Interest expense, net 20 (1 ) 9 — 28 EARNINGS BEFORE TAXES (65 ) 100 68 — 103 Income tax expense (30 ) 25 16 — 11 Equity in net earnings of subsidiaries 127 52 — (179 ) — Equity in net earnings of affiliates — — — — — NET EARNINGS 92 127 52 (179 ) 92 Net earnings attributable to noncontrolling interests — — — — — NET EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 92 $ 127 $ 52 $ (179 ) $ 92
Condensed Consolidating Statement Of Comprehensive Earnings	OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 101 $ 131 $ 56 $ (187 ) $ 101 Currency translation adjustment (net of tax) 36 1 36 (37 ) 36 Pension and other postretirement adjustment (net of tax) — (1 ) (2 ) 3 — Hedging adjustment (net of tax) (2 ) — — — (2 ) COMPREHENSIVE EARNINGS 135 131 90 (221 ) 135 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 135 $ 131 $ 90 $ (221 ) $ 135 OWENS CORNING AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2018 (in millions) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated NET EARNINGS $ 92 $ 127 $ 52 $ (179 ) $ 92 Currency translation adjustment (net of tax) (15 ) 1 4 (5 ) (15 ) Pension and other postretirement adjustment (net of tax) (2 ) (4 ) (1 ) 5 (2 ) Hedging adjustment (net of tax) 1 — — — 1 COMPREHENSIVE EARNINGS 76 124 55 (179 ) 76 Comprehensive earnings attributable to noncontrolling interests — — — — — COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING $ 76 $ 124 $ 55 $ (179 ) $ 76
Condensed Consolidating Balance Sheet	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017 (in millions) ASSETS Parent Guarantor Non- Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ 137 $ 2 $ 107 $ — $ 246 Receivables, net — — 806 — 806 Due from affiliates — 3,403 — (3,403 ) — Inventories — 475 366 — 841 Other current assets 22 28 42 — 92 Total current assets 159 3,908 1,321 (3,403 ) 1,985 Investment in subsidiaries 8,777 2,040 — (10,817 ) — Property, plant and equipment, net 465 1,699 1,261 — 3,425 Goodwill and intangible assets, net — 2,383 553 (69 ) 2,867 Other non-current assets (24 ) 221 158 — 355 TOTAL ASSETS $ 9,377 $ 10,251 $ 3,293 $ (14,289 ) $ 8,632 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 87 $ 1,083 $ 112 $ — $ 1,282 Due to affiliates 2,529 — 874 (3,403 ) — Total current liabilities 2,616 1,083 986 (3,403 ) 1,282 Long-term debt, net of current portion 2,378 10 17 — 2,405 Deferred income taxes — — 37 — 37 Other liabilities 221 381 171 (69 ) 704 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 4,162 8,777 2,040 (10,817 ) 4,162 Noncontrolling interests — — 42 — 42 Total equity 4,162 8,777 2,082 (10,817 ) 4,204 TOTAL LIABILITIES AND EQUITY $ 9,377 $ 10,251 $ 3,293 $ (14,289 ) $ 8,632 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2018 (in millions) ASSETS Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated CURRENT ASSETS Cash and cash equivalents $ — $ 11 $ 129 $ — $ 140 Receivables, net — — 1,061 — 1,061 Due from affiliates — 3,089 — (3,089 ) — Inventories — 501 442 — 943 Other current assets 24 27 33 — 84 Total current assets 24 3,628 1,665 (3,089 ) 2,228 Investment in subsidiaries 8,891 2,095 — (10,986 ) — Property, plant and equipment, net 466 1,687 1,602 — 3,755 Goodwill and intangible assets, net — 2,376 1,522 (64 ) 3,834 Other non-current assets (22 ) 222 196 — 396 TOTAL ASSETS $ 9,359 $ 10,008 $ 4,985 $ (14,139 ) $ 10,213 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts and notes payable and other current liabilities $ 89 $ 726 $ 569 $ — $ 1,384 Due to affiliates 1,445 — 1,644 (3,089 ) — Total current liabilities 1,534 726 2,213 (3,089 ) 1,384 Long-term debt, net of current portion 3,489 10 263 — 3,762 Deferred income taxes — — 143 — 143 Other liabilities 238 381 228 (64 ) 783 OWENS CORNING STOCKHOLDERS’ EQUITY Total Owens Corning stockholders’ equity 4,098 8,891 2,095 (10,986 ) 4,098 Noncontrolling interests — — 43 — 43 Total equity 4,098 8,891 2,138 (10,986 ) 4,141 TOTAL LIABILITIES AND EQUITY $ 9,359 $ 10,008 $ 4,985 $ (14,139 ) $ 10,213
Condensed Consolidating Statement of Cash Flows	OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES $ (8 ) $ (52 ) $ 67 $ — $ 7 NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment — (52 ) (15 ) — (67 ) Investment in subsidiaries and affiliates, net of cash acquired — — — — — Other — — — — — Net cash flow used for investing activities — (52 ) (15 ) — (67 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from senior revolving credit and receivables securitization facilities — — 194 — 194 Payments on senior revolving credit and receivables securitization facilities — — (37 ) — (37 ) Dividends paid (45 ) — — — (45 ) Purchases of treasury stock (72 ) — — — (72 ) Other intercompany loans 122 50 (172 ) — — Other 3 — — — 3 Net cash flow provided by financing activities 8 50 (15 ) — 43 Effect of exchange rate changes on cash — — 6 — 6 Net decrease in cash, cash equivalents and restricted cash — (54 ) 43 — (11 ) 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 $ 1 $ 100 $ — $ 107 OWENS CORNING AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2018 (in millions) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES $ (22 ) $ (123 ) $ 55 $ — $ (90 ) NET CASH FLOW USED FOR INVESTING ACTIVITIES Cash paid for property, plant and equipment (1 ) (59 ) (41 ) — (101 ) Proceeds from the sale of assets or affiliates — — 14 — 14 Investment in subsidiaries and affiliates, net of cash acquired — — (1,121 ) — (1,121 ) Other 1 — — — 1 Net cash flow used for investing activities — (59 ) (1,148 ) — (1,207 ) NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES Proceeds from long-term debt 389 — — — 389 Proceeds from senior revolving credit and receivables securitization facilities 276 — 289 — 565 Proceeds from term loan borrowing 600 — — — 600 Payments on senior revolving credit and receivables securitization facilities (155 ) — (42 ) — (197 ) Dividends paid (46 ) — — — (46 ) Purchases of treasury stock (111 ) — — — (111 ) Other intercompany loans (1,068 ) 191 877 — — Other 1 — — — 1 Net cash flow provided by financing activities (114 ) 191 1,124 — 1,201 Effect of exchange rate changes on cash — — (10 ) — (10 ) Net decrease in cash, cash equivalents and restricted cash (136 ) 9 21 — (106 ) Cash, cash equivalents and restricted cash at beginning of period 143 2 108 — 253 CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 7 $ 11 $ 129 $ — $ 147

GENERAL (Details)

GENERAL (Details) - USD ($) $ in Millions	Jan. 01, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash		$ 7	$ 7	$ 6	$ 6
Operating Income (Loss) | Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pension expense	$ (60)
Nonoperating Income (Expense) | Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pension expense	$ 60

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)segment	Mar. 31, 2017USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
Number of reportable segments | segment	3
NET SALES	$ 1,691	$ 1,478
EBIT	131	170
Restructuring costs	(5)	0
Acquisition-related costs	(14)	(1)
Recognition of acquisition inventory fair value step-up	(2)	0
General corporate expense and other	(37)	(30)
U.S.
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	1,128	1,051
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	279	140
Asia-Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	142	153
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	142	134
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	511	511
EBIT	60	71
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	596	399
EBIT	32	5
Roofing
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	642	627
EBIT	97	125
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	1,749	1,537
EBIT	189	201
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	(58)	(59)
EBIT	$ (58)	$ (31)

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accumulated earnings	$ 1,631		$ 1,575
Inventories	943		$ 841
Revenue, remaining performance obligation	2
Contract liability	55	$ 46
Contract liability, revenue recognized	$ 12
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	16 years
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	20 years
Paroc Group
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liability, Increase for contract acquired in business combination	$ 5
Accounting Standards Update 2014-09
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accumulated earnings		$ 2
Calculated under Revenue Guidance in Effect before Topic 606
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accumulated earnings	2
Inventories	$ 2

REVENUE - Disaggregated Revenue

REVENUE - Disaggregated Revenue (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 1,691
Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	279
Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	142
Rest of World
Disaggregation of Revenue [Line Items]
Disaggregated revenue	142
Composites
Disaggregation of Revenue [Line Items]
Disaggregated revenue	511
Composites | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	157
Composites | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	106
Composites | Rest of World
Disaggregation of Revenue [Line Items]
Disaggregated revenue	33
Insulation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	596
Insulation | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	119
Insulation | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	33
Insulation | Rest of World
Disaggregation of Revenue [Line Items]
Disaggregated revenue	75
Roofing
Disaggregation of Revenue [Line Items]
Disaggregated revenue	642
Roofing | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	3
Roofing | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	3
Roofing | Rest of World
Disaggregation of Revenue [Line Items]
Disaggregated revenue	38
Eliminations
Disaggregation of Revenue [Line Items]
Disaggregated revenue	(58)
Eliminations | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	0
Eliminations | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	0
Eliminations | Rest of World
Disaggregation of Revenue [Line Items]
Disaggregated revenue	(4)
U.S. residential | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	804
U.S. residential | Composites | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	76
U.S. residential | Insulation | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	222
U.S. residential | Roofing | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	559
U.S. residential | Eliminations | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	(53)
U.S. commercial and industrial | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	324
U.S. commercial and industrial | Composites | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	139
U.S. commercial and industrial | Insulation | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	147
U.S. commercial and industrial | Roofing | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	39
U.S. commercial and industrial | Eliminations | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ (1)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 630	$ 562
Materials and supplies	313	279
Total inventories	$ 943	$ 841

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Other Current Assets | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 8	$ 7
Other Current Assets | Designated as Hedging Instrument | Cash Flow Hedging | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	1	1
Other Current Assets | Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	1	0
Other Current Assets | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	4	1
Accounts Payable and Accrued Liabilities | Designated as Hedging Instrument | Cash Flow Hedging | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	0	1
Accounts Payable and Accrued Liabilities | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	1	1
Other Liabilities | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 63	$ 38

DERIVATIVE FINANCIAL INSTRUME48

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Cost of sales | Designated as Hedging Instrument | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of gain/(loss) reclassified from AOCI into earnings		$ 0	$ (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]	(4)	0
Interest expense, net | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Derivative, Gain on Derivative		(3)	$ 0
Net Investment Hedging | Cross Currency Interest Rate Contract
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings		25
Cash Flow Hedging | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings		$ (1)
[1]	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 INSTRUME49

DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS CASH FLOW (Details) € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2018EUR (€)MMBTU	Mar. 31, 2018USD ($)MMBTU	Dec. 31, 2017USD ($)
Derivative [Line Items]
Derivative, nonmonetary notional amount | MMBTU		5	5
net fair value liability			$ 13
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	3 years
Four Months
Derivative [Line Items]
Percent of exposures hedged		0.60	0.60
Exposure time	3 years
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
Poland | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount			$ 22	$ 22
Sweden | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount			18
U.S. | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount			707	$ 109
United States of America, Dollars | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount			516
Euro Member Countries, Euro | Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount			$ 93
Euro Member Countries, Euro | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount | €		€ 516

GOODWILL AND OTHER INTANGIBLE50

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2016	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 2,135		$ 1,611
Accumulated amortization	(263)		(251)
Intangible assets, net	1,872		1,360
Goodwill	$ 1,962		1,507
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	20 years	20 years
Gross carrying amount	$ 588		363
Accumulated amortization	(116)		(109)
Net carrying amount	$ 472		254
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	17 years	18 years
Gross carrying amount	$ 328		255
Accumulated amortization	(120)		(116)
Net carrying amount	$ 208		139
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	14 years	8 years
Gross carrying amount	$ 61		47
Accumulated amortization	(27)		(26)
Net carrying amount	34		21
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,158		946
Accumulated amortization	0		0
Indefinite-lived intangible assets	$ 1,158		$ 946

GOODWILL AND OTHER INTANGIBLE51

GOODWILL AND OTHER INTANGIBLE ASSETS - GOODWILL ROLLFORWARD (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Line Items]
Balance at beginning of period	$ 1,507
Goodwill, acquired during period	452
Foreign currency translation	3
Balance at end of period	1,962
Composites
Goodwill [Line Items]
Balance at beginning of period	58
Goodwill, acquired during period	0
Foreign currency translation	0
Balance at end of period	58
Insulation
Goodwill [Line Items]
Balance at beginning of period	1,049
Goodwill, acquired during period	452
Foreign currency translation	2
Balance at end of period	1,503
Roofing
Goodwill [Line Items]
Balance at beginning of period	400
Goodwill, acquired during period	0
Foreign currency translation	1
Balance at end of period	$ 401

GOODWILL AND OTHER INTANGIBLE52

GOODWILL AND OTHER INTANGIBLE ASSETS - INTANGIBLE ASSETS ROLLFORWARD (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	$ 1,611,000,000
Other additions, net	7,000,000
Foreign currency translation	(1,000,000)
Balance at end of period	2,135,000,000
Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	245,000,000
Pittsburgh Corning and Paroc Group
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	26,000,000
Intangible assets acquired	518,000,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	363,000,000
Other additions, net	0
Foreign currency translation	0
Balance at end of period	588,000,000
Customer relationships | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	225,000,000
Technology
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	255,000,000
Other additions, net	0
Foreign currency translation	0
Balance at end of period	328,000,000
Technology | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	73,000,000
Trademarks
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	946,000,000
Other additions, net	0
Foreign currency translation	(1,000,000)
Balance at end of period	1,158,000,000
Trademarks | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	213,000,000
Other
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period	47,000,000
Other additions, net	7,000,000
Foreign currency translation	0
Balance at end of period	61,000,000
Other | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 7,000,000

GOODWILL AND OTHER INTANGIBLE53

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Expense (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
2,019	$ 53	[1]
2,020	53	[1]
2,021	52	[1]
2,022	48	[1]
2,023	45	[1]
Pittsburgh Corning and Paroc Group
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 26
[1]	The yearly amortization amounts in the table above include approximately $26 million of aggregate amortization expense related to the preliminary purchase price allocations of the acquisitions of Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively, "Pittsburgh Corning") and Paroc. See Note 8 for more details of these acquisitions.

PROPERTY, PLANT AND EQUIPMENT54

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 6,162	$ 5,756
Accumulated depreciation	(2,407)	(2,331)
Property, plant and equipment, net	$ 3,755	3,425
Precious metals depletion percentage	12.00%
Precious metal percent of deprecation expense	0.03
Land
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 277	251
Buildings and leasehold improvements
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	1,023	944
Machinery and equipment
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	4,460	4,211
Construction in progress
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 402	$ 350

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) € in Millions	Feb. 05, 2018EUR (€)	Feb. 05, 2018USD ($)	Jun. 27, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Business Acquisition [Line Items]
Purchase price, net of cash acquired				$ 1,121,000,000	$ 0
Net sales				1,691,000,000	1,478,000,000
Cost of sales				1,336,000,000	$ 1,136,000,000
Goodwill, acquired during period				452,000,000
Paroc Group
Business Acquisition [Line Items]
Purchase price, net of cash acquired	€ 900	$ 1,121,000,000
Net sales				85,000,000
Cost of sales				2,000,000
Property, plant, and equipment acquired				315,000,000
Goodwill, acquired during period				454,000,000
Cash acquired from acquisition				17,000,000
Pittsburgh Corning
Business Acquisition [Line Items]
Purchase price, net of cash acquired			$ 563,000,000
Goodwill, acquired during period				154,000,000
Cash acquired from acquisition				52,000,000
Net sales recognized				60,000,000
Goodwill, expected tax deductible amount				$ 0

ACQUISITIONS - Intangible Asset

ACQUISITIONS - Intangible Assets Acquired (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 518
Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	245
Customer relationships | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 225
Weighted average useful life	20 years
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
Technology - Know-how | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 63
Weighted average useful life	15 years
Technology - Patented | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 10
Weighted average useful life	5 years
Quarry Rights | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 7
Weighted average useful life	45 years
Trademarks | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 213
Trademarks | Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	$ 101

WARRANTIES (Details)

WARRANTIES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product warranty accrual, beginning balance	$ 55
Amounts accrued for current year	5
Settlements of warranty claims	(2)
Product warranty accrual, ending balance	$ 58

RESTRUCTURING AND ACQUISITION58

RESTRUCTURING AND ACQUISITION-RELATED COSTS ACQUISITIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	$ 14	$ 1
Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	5
Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	9
Paroc Group
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	13
Paroc Group | Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	4
Paroc Group | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	9
Pittsburgh Corning
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	1
Pittsburgh Corning | Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	1
Pittsburgh Corning | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	$ 0

RESTRUCTURING AND ACQUISITION59

RESTRUCTURING AND ACQUISITION-RELATED COSTS RESTRUCTURING (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 5	$ 0
Payments	(4)
Non-cash items and reclassifications to other accounts	(2)
Restructuring reserve	19		$ 20
Cumulative charges incurred	51
Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1
Payments	(2)
Non-cash items and reclassifications to other accounts	(1)
Restructuring reserve	7		9
Cumulative charges incurred	18
Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	4
Restructuring and related cost, accelerated depreciation	4
Payments	(2)
Non-cash items and reclassifications to other accounts	(1)
Restructuring reserve	12		$ 11
Cumulative charges incurred	33
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	19
Restructuring reserve, noncurrent	2
Restructuring reserve, current	17
Employee Severance | Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1
Employee Severance | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1
Employee Severance | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1	0
Additional Exit Costs | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1
Restructuring and related cost, expected cost remaining	19
Additional Exit Costs | Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2	0
Additional Exit Costs | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(3)	0
Accelerated Depreciation | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4
Accelerated Depreciation | Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, accelerated depreciation	$ 5	$ 0

DEBT (Details)

DEBT (Details)		3 Months Ended
		Mar. 31, 2018USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)	Apr. 01, 2018USD ($)	Jan. 25, 2018USD ($)	Dec. 31, 2017USD ($)	Oct. 27, 2017USD ($)term_loan	Jun. 26, 2017USD ($)	Aug. 08, 2016USD ($)	Mar. 31, 2016	Dec. 31, 2015USD ($)	Nov. 12, 2014USD ($)	Oct. 17, 2012USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 3,766,000,000					$ 2,409,000,000
Fair value long-term debt	[1]	100.00%					100.00%
Unamortized interest rate swap basis adjustment		$ 6,000,000					$ 6,000,000
Long-term debt, current maturities		4,000,000					4,000,000
Long-term debt, net of current portion		3,762,000,000					2,405,000,000
Line of credit facility, maximum borrowing capacity												$ 800,000,000
Line of credit facility, uncommitted incremental borrowings		600,000,000
Short-term debt		$ 1,000,000					$ 1,000,000
Debt instrument, term		1 year
Short-term debt, weighted average interest rate, at point in time		5.40%					6.70%
Senior Notes Due 2022
Debt Instrument [Line Items]
Long-term debt		$ 597,000,000					$ 597,000,000
Fair value long-term debt		103.00%					105.00%
Long-term debt, percentage rate		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
Fair value long-term debt		102.00%					105.00%
Long-term debt, percentage rate		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
Fair value long-term debt		96.00%					98.00%
Long-term debt, percentage rate		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
Fair value long-term debt		127.00%					132.00%
Long-term debt, percentage rate		7.00%					7.00%
Debt instrument, face amount														$ 540,000,000
Repayments of debt		$ 140,000,000
Senior Notes Due 2047
Debt Instrument [Line Items]
Long-term debt		$ 588,000,000					$ 588,000,000
Fair value long-term debt		92.00%					99.00%
Long-term debt, percentage rate		4.30%
Debt instrument, face amount									$ 600,000,000
Senior Notes Due 2048
Debt Instrument [Line Items]
Long-term debt		$ 389,000,000					$ 0
Fair value long-term debt		92.00%
Long-term debt, percentage rate		4.40%
Debt instrument, face amount						$ 400,000,000
Senior revolving credit facility, maturing in 2020
Debt Instrument [Line Items]
Long-term debt		$ 121,000,000					0
Fair value long-term debt	[1]	100.00%
Receivables securitization facility, maturing in 2020
Debt Instrument [Line Items]
Long-term debt		$ 247,000,000					0
Fair value long-term debt	[1]	100.00%
Term loan borrowings, maturing in 2021
Debt Instrument [Line Items]
Long-term debt		$ 600,000,000					0
Fair value long-term debt	[1]	100.00%
Capital Lease Obligations
Debt Instrument [Line Items]
Long-term debt		$ 31,000,000					$ 31,000,000
Fair value long-term debt	[1]	100.00%					100.00%
Senior Notes Due 2019
Debt Instrument [Line Items]
Repayments of debt		$ 144,000,000	$ 105,000,000	$ 100,000,000
Senior Notes Due 2016
Debt Instrument [Line Items]
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		600,000,000
Number of term loan commitments | term_loan								2
Term Loan Commitment One
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 300,000,000
Term Loan Commitment Two
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								600,000,000
Senior Revolving Credit Facility B
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		800,000,000						$ 600,000,000
Proceeds from issuance of debt		600,000,000
Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Long-term debt, current maturities		250,000,000
Line of credit facility, maximum borrowing capacity		$ 250,000,000
Subsequent Event | Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Long-term debt, current maturities					$ 280,000,000
[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	Mar. 31, 2018	Oct. 27, 2017	Dec. 31, 2015
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 800
Term Loan Commitment
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600
Long-term line of credit	600
Line of credit facility, current borrowing capacity	0
Senior Revolving Credit Facility B
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	800	$ 600
Long-term line of credit	121
Letters of credit outstanding, amount	9
Line of credit facility, current borrowing capacity	670
Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	250
Long-term line of credit	247
Letters of credit outstanding, amount	3
Line of credit facility, current borrowing capacity	$ 0

PENSION PLANS AND OTHER POSTR62

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Prospective Adoption of New Accounting Policy (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Cost of sales	$ 1,336	$ 1,136
Other expenses, net	20	11
Non-operating income	$ (4)	(2)
Adoption Impact
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		1
Other expenses, net		1
Non-operating income		(2)
Before Adoption
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		1,135
Other expenses, net		10
Non-operating income		0
After Adoption
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		1,136
Other expenses, net		11
Non-operating income		$ (2)

PENSION PLANS AND OTHER POSTR63

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018
Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 3	$ 3
Interest cost	12	14
Expected return on plan assets	(19)	(20)
Amortization of actuarial loss	4	4
Net periodic pension cost	0	1
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Contributions by employer	6
Other Postretirement Benefits Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1
Interest cost	2	2
Amortization of prior service cost	(1)	(1)
Amortization of actuarial loss	(2)	(1)
Net periodic pension cost	0	1
U.S. | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	2	2
Interest cost	9	10
Expected return on plan assets	(14)	(14)
Amortization of actuarial loss	3	3
Net periodic pension cost	0	1
Foreign Plan | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1
Interest cost	3	4
Expected return on plan assets	(5)	(6)
Amortization of actuarial loss	1	1
Net periodic pension cost	$ 0	$ 0
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			$ 13

CONTINGENT LIABILITIES AND OT64

CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions	Mar. 31, 2018USD ($)site
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	22
Environmental exit costs, accrual | $	$ 17
Environmental exit costs, accrual, current | $	$ 11
Superfund Site
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	7
Owned or Formally Owned Sites
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	15

STOCK COMPENSATION - Narrative

STOCK COMPENSATION - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)shares	Mar. 31, 2017USD ($)	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	24.60%
Risk free interest rate	2.20%
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 (less than)	$ 1	$ 1
Intrinsic value	21
Employee emergence equity program expense	1	1
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense (less than)	5	5
Compensation cost not yet recognized	$ 48
Expected term (in years)	2 years 11 months 12 days
Vested in period, fair value	$ 17	$ 16
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Allocated share based compensation expense (less than)	$ 3
Compensation cost not yet recognized	$ 27
Period for recognition (in years)	2 years 7 months 11 days
Stock Plan Member, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant | shares	2,500,000
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	1,000,000
Allocated share based compensation expense (less than)	$ 1

STOCK COMPENSATION - Stock Opti

STOCK COMPENSATION - Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance | shares	518,725
Exercised (in shares) | shares	(26,350)
Forfeited (in shares) | shares	(750)
Ending Balance | shares	491,625
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning Balance | $ / shares	$ 37.17
Exercised, weighted average exercise price | $ / shares	36.20
Forfeited, weighted average exercise price | $ / shares	37.65
Ending Balance | $ / shares	$ 37.23

STOCK COMPENSATION - Options Ou

STOCK COMPENSATION - Options Outstanding and Exercisable (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Exercise Price Range One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, number of outstanding options | shares	491,625
Weighted average remaining contractual term (in years)	4 years 8 months 8 days
Exercise price range, outstanding options, weighted average exercise price	$ 37.23
Exercise price range, number of exercisable options | shares	491,625
Exercise price range, exercisable options, weighted average remaining contractual term (in years)	4 years 8 months 8 days
Exercise price range, exercisable options, weighted average exercise price	$ 37.23
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	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance | shares	1,752,136
Granted (in shares) | shares	260,977
Vested (in shares) | shares	(395,002)
Forfeited (in shares) | shares	(18,612)
Ending Balance | shares	1,599,499
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	$ 42.40
Granted, weighted average grant date fair value | $ / shares	92.65
Vested, weighted average grant date fair value | $ / shares	44.20
Forfeited, weighted average grant date fair value | $ / shares	47.61
Ending Balance | $ / shares	$ 50.09

STOCK COMPENSATION - Performanc

STOCK COMPENSATION - Performance Stock Units (Details) - Performance Stock Units (PSUs)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance | shares	451,148
Granted (in shares) | shares	171,725
Forfeited (in shares) | shares	(3,672)
Ending Balance | shares	619,201
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance | $ / shares	$ 53.96
Granted, weighted average grant date fair value | $ / shares	93.25
Forfeited, weighted average grant date fair value | $ / shares	49.52
Ending Balance | $ / shares	$ 64.88

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Oct. 24, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Net earnings attributable to Owens Corning	$ 92	$ 101
Weighted-average number of shares outstanding used for basic earnings per share	111,500,000	112,300,000
Non-vested restricted and performance shares	1,000,000	900,000
Options to purchase common stock	300,000	300,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	112,800,000	113,500,000
Basic (in dollars per share)	$ 0.83	$ 0.90
Diluted (in dollars per share)	$ 0.82	$ 0.89
Equity Class Of Treasury Stock [Line Items]
Stock repurchased during period, shares	1,000,000
Payments for repurchase of equity	$ 83
Stock repurchase program, remaining number of shares authorized to be repurchased	6,500,000
Repurchase Program 2016
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased			10,000,000
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	300,000
Performance Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	100,000	100,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	Dec. 22, 2017	Dec. 21, 2017	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018
Income Tax Contingency [Line Items]
Income tax expense			$ 11	$ 43
Effective tax rate			11.00%	30.00%
Federal statutory tax rate	21.00%	35.00%	21.00%	35.00%
Other Assets | Accounting Standards Update 2016-16
Income Tax Contingency [Line Items]
Cumulative effect of new accounting principle in period of adoption					$ 17
Deferred Income Tax Assets | Accounting Standards Update 2016-16
Income Tax Contingency [Line Items]
Cumulative effect of new accounting principle in period of adoption					7
Retained Earnings | Accounting Standards Update 2016-16
Income Tax Contingency [Line Items]
Cumulative effect of new accounting principle in period of adoption					$ 10

CHANGES IN ACCUMULATED OTHER 72

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		$ (514)
Amounts classified into AOCI, net of tax		2	$ 1
Total AOCI ending balance		(530)	(676)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(183)	(284)
Net investment hedge amounts classified into AOCI, net of tax		(19)	0
Gain on foreign currency translation		4	36
Other Comprehensive Income (Loss), Net of Tax		(15)	36
Total AOCI ending balance		(198)	(248)
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(331)	(429)
Other Comprehensive Income (Loss), Net of Tax		(2)	0
Amounts reclassified from AOCI to net earnings, net of tax	[1]	1	1
Amounts classified into AOCI, net of tax		(3)	(1)
Total AOCI ending balance		(333)	(429)
Hedging Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		0	3
Other Comprehensive Income (Loss), Net of Tax		1	(2)
Amounts reclassified from AOCI to net earnings, net of tax	[2]	0	(1)
Amounts classified into AOCI, net of tax		1	(1)
Total AOCI ending balance		$ 1	$ 1
[1]	These AOCI components are included in the computation of total Pension and OPEB expense and are recorded in Non-operating income. See Note 12 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 5 for additional information.

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
NET SALES	$ 1,691	$ 1,478
COST OF SALES	1,336	1,136
Gross margin	355	342
OPERATING EXPENSES
Marketing and administrative expenses	185	142
Science and technology expenses	23	21
Other expenses, net	20	11
Total operating expenses	228	174
OPERATING INCOME	127	168
Non-operating income	(4)	(2)
EARNINGS BEFORE INTEREST AND TAXES	131	170
Interest expense, net	28	26
EARNINGS BEFORE TAXES	103	144
Income tax expense	11	43
Equity in net earnings of subsidiaries	0	0
Equity in net earnings of affiliates	0	0
NET EARNINGS	92	101
Net earnings attributable to noncontrolling interests	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	92	101
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
NET SALES	(140)	(127)
COST OF SALES	(140)	(127)
Gross margin	0	0
OPERATING EXPENSES
Marketing and administrative expenses	0	0
Science and technology expenses	0	0
Other expenses, net	0	0
Total operating expenses	0	0
OPERATING INCOME	0	0
Non-operating income	0	0
EARNINGS BEFORE INTEREST AND TAXES	0	0
Interest expense, net	0	0
EARNINGS BEFORE TAXES	0	0
Income tax expense	0	0
Equity in net earnings of subsidiaries	(179)	(187)
Equity in net earnings of affiliates	0	0
NET EARNINGS	(179)	(187)
Net earnings attributable to noncontrolling interests	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	(179)	(187)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET SALES	1,172	1,094
COST OF SALES	960	867
Gross margin	212	227
OPERATING EXPENSES
Marketing and administrative expenses	86	77
Science and technology expenses	19	17
Other expenses, net	9	10
Total operating expenses	114	104
OPERATING INCOME	98	123
Non-operating income	(1)	(2)
EARNINGS BEFORE INTEREST AND TAXES	99	125
Interest expense, net	(1)	0
EARNINGS BEFORE TAXES	100	125
Income tax expense	25	50
Equity in net earnings of subsidiaries	52	56
Equity in net earnings of affiliates	0	0
NET EARNINGS	127	131
Net earnings attributable to noncontrolling interests	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	127	131
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET SALES	0	0
COST OF SALES	2	1
Gross margin	(2)	(1)
OPERATING EXPENSES
Marketing and administrative expenses	41	36
Science and technology expenses	0	0
Other expenses, net	4	(2)
Total operating expenses	45	34
OPERATING INCOME	(47)	(35)
Non-operating income	(2)	0
EARNINGS BEFORE INTEREST AND TAXES	(45)	(35)
Interest expense, net	20	23
EARNINGS BEFORE TAXES	(65)	(58)
Income tax expense	(30)	(28)
Equity in net earnings of subsidiaries	127	131
Equity in net earnings of affiliates	0	0
NET EARNINGS	92	101
Net earnings attributable to noncontrolling interests	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	92	101
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET SALES	659	511
COST OF SALES	514	395
Gross margin	145	116
OPERATING EXPENSES
Marketing and administrative expenses	58	29
Science and technology expenses	4	4
Other expenses, net	7	3
Total operating expenses	69	36
OPERATING INCOME	76	80
Non-operating income	(1)	0
EARNINGS BEFORE INTEREST AND TAXES	77	80
Interest expense, net	9	3
EARNINGS BEFORE TAXES	68	77
Income tax expense	16	21
Equity in net earnings of subsidiaries	0	0
Equity in net earnings of affiliates	0	0
NET EARNINGS	52	56
Net earnings attributable to noncontrolling interests	0	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 52	$ 56

CONDENSED CONSOLIDATED STATEM74

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE EARNINGS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	$ 92	$ 101
Currency translation adjustment (net of tax)	(15)	36
Pension and other postretirement adjustment (net of tax)	(2)	0
Hedging adjustment (net of tax)	1	(2)
COMPREHENSIVE EARNINGS	76	135
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	76	135
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	(179)	(187)
Currency translation adjustment (net of tax)	(5)	(37)
Pension and other postretirement adjustment (net of tax)	5	3
Hedging adjustment (net of tax)	0	0
COMPREHENSIVE EARNINGS	(179)	(221)
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	(179)	(221)
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	92	101
Currency translation adjustment (net of tax)	(15)	36
Pension and other postretirement adjustment (net of tax)	(2)	0
Hedging adjustment (net of tax)	1	(2)
COMPREHENSIVE EARNINGS	76	135
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	76	135
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	127	131
Currency translation adjustment (net of tax)	1	1
Pension and other postretirement adjustment (net of tax)	(4)	(1)
Hedging adjustment (net of tax)	0	0
COMPREHENSIVE EARNINGS	124	131
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	124	131
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
NET EARNINGS	52	56
Currency translation adjustment (net of tax)	4	36
Pension and other postretirement adjustment (net of tax)	(1)	(2)
Hedging adjustment (net of tax)	0	0
COMPREHENSIVE EARNINGS	55	90
Comprehensive earnings attributable to noncontrolling interests	0	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 55	$ 90

CONDENSED CONSOLIDATED BALANC75

CONDENSED CONSOLIDATED BALANCE SHEET (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 140	$ 246
Receivables, net	1,061	806
Inventories	943	841
Other current assets	81	80
Total current assets	2,228	1,985
Property, plant and equipment, net	3,755	3,425
Other non-current assets	241	211
TOTAL ASSETS	10,213	8,632
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	1,379	1,277
Total current liabilities	1,384	1,282
Long-term debt, net of current portion	3,762	2,405
Deferred income taxes	143	37
Other liabilities	301	223
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	4,098	4,162
Noncontrolling interests	43	42
Total equity	4,141	4,204
TOTAL LIABILITIES AND EQUITY	10,213	8,632
Consolidation, Eliminations
CURRENT ASSETS
Cash and cash equivalents	0	0
Receivables, net	0	0
Due from affiliates	(3,089)	(3,403)
Inventories	0	0
Other current assets	0	0
Total current assets	(3,089)	(3,403)
Investment in subsidiaries	(10,986)	(10,817)
Property, plant and equipment, net	0	0
Goodwill and intangible assets, net	(64)	(69)
Other non-current assets	0	0
TOTAL ASSETS	(14,139)	(14,289)
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	0	0
Due to affiliates	(3,089)	(3,403)
Total current liabilities	(3,089)	(3,403)
Long-term debt, net of current portion	0	0
Deferred income taxes	0	0
Other liabilities	(64)	(69)
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	(10,986)	(10,817)
Noncontrolling interests	0	0
Total equity	(10,986)	(10,817)
TOTAL LIABILITIES AND EQUITY	(14,139)	(14,289)
Parent Company
CURRENT ASSETS
Cash and cash equivalents	0	137
Receivables, net	0	0
Due from affiliates	0	0
Inventories	0	0
Other current assets	24	22
Total current assets	24	159
Investment in subsidiaries	8,891	8,777
Property, plant and equipment, net	466	465
Goodwill and intangible assets, net	0	0
Other non-current assets	(22)	(24)
TOTAL ASSETS	9,359	9,377
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	89	87
Due to affiliates	1,445	2,529
Total current liabilities	1,534	2,616
Long-term debt, net of current portion	3,489	2,378
Deferred income taxes	0	0
Other liabilities	238	221
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	4,098	4,162
Noncontrolling interests	0	0
Total equity	4,098	4,162
TOTAL LIABILITIES AND EQUITY	9,359	9,377
Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents	11	2
Receivables, net	0	0
Due from affiliates	3,089	3,403
Inventories	501	475
Other current assets	27	28
Total current assets	3,628	3,908
Investment in subsidiaries	2,095	2,040
Property, plant and equipment, net	1,687	1,699
Goodwill and intangible assets, net	2,376	2,383
Other non-current assets	222	221
TOTAL ASSETS	10,008	10,251
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	726	1,083
Due to affiliates	0	0
Total current liabilities	726	1,083
Long-term debt, net of current portion	10	10
Deferred income taxes	0	0
Other liabilities	381	381
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	8,891	8,777
Noncontrolling interests	0	0
Total equity	8,891	8,777
TOTAL LIABILITIES AND EQUITY	10,008	10,251
Non-Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents	129	107
Receivables, net	1,061	806
Due from affiliates	0	0
Inventories	442	366
Other current assets	33	42
Total current assets	1,665	1,321
Investment in subsidiaries	0	0
Property, plant and equipment, net	1,602	1,261
Goodwill and intangible assets, net	1,522	553
Other non-current assets	196	158
TOTAL ASSETS	4,985	3,293
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	569	112
Due to affiliates	1,644	874
Total current liabilities	2,213	986
Long-term debt, net of current portion	263	17
Deferred income taxes	143	37
Other liabilities	228	171
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	2,095	2,040
Noncontrolling interests	43	42
Total equity	2,138	2,082
TOTAL LIABILITIES AND EQUITY	4,985	3,293
Consolidated G/NG
CURRENT ASSETS
Cash and cash equivalents	140	246
Receivables, net	1,061	806
Due from affiliates	0	0
Inventories	943	841
Other current assets	84	92
Total current assets	2,228	1,985
Investment in subsidiaries	0	0
Property, plant and equipment, net	3,755	3,425
Goodwill and intangible assets, net	3,834	2,867
Other non-current assets	396	355
TOTAL ASSETS	10,213	8,632
CURRENT LIABILITIES
Accounts and notes payable and other current liabilities	1,384	1,282
Due to affiliates	0	0
Total current liabilities	1,384	1,282
Long-term debt, net of current portion	3,762	2,405
Deferred income taxes	143	37
Other liabilities	783	704
OWENS CORNING STOCKHOLDERS' EQUITY
Total Owens Corning stockholders’ equity	4,098	4,162
Noncontrolling interests	43	42
Total equity	4,141	4,204
TOTAL LIABILITIES AND EQUITY	$ 10,213	$ 8,632

CONDENSED CONSOLIDATED STATEM76

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES	$ (90)	$ 7
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(101)	(67)
Proceeds from the sale of assets or affiliates	14	0
Investment in subsidiaries and affiliates, net of cash acquired	(1,121)	0
Other	1	0
Net cash flow used for investing activities	(1,207)	(67)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	389	0
Proceeds from senior revolving credit and receivables securitization facilities	565	194
Proceeds from term loan borrowing	600	0
Payments on senior revolving credit and receivables securitization facilities	(197)	(37)
Dividends paid	(46)	(45)
Purchases of treasury stock	(111)	(72)
Other intercompany loans	0	0
Other	1	3
Net cash flow provided by financing activities	1,201	43
Effect of exchange rate changes on cash	(10)	6
Net decrease in cash, cash equivalents and restricted cash	(106)	(11)
Cash, cash equivalents and restricted cash at beginning of period	253	118
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	147	107
Consolidation, Eliminations
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES	0	0
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	0	0
Proceeds from the sale of assets or affiliates	0
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
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from term loan borrowing	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	0	0
Other	0	0
Net cash flow provided by financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	0	0
Non-Guarantor Subsidiaries
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES	55	67
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(41)	(15)
Proceeds from the sale of assets or affiliates	14
Investment in subsidiaries and affiliates, net of cash acquired	(1,121)	0
Other	0	0
Net cash flow used for investing activities	(1,148)	(15)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	0
Proceeds from senior revolving credit and receivables securitization facilities	289	194
Proceeds from term loan borrowing	0
Payments on senior revolving credit and receivables securitization facilities	(42)	(37)
Dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	877	(172)
Other	0	0
Net cash flow provided by financing activities	1,124	(15)
Effect of exchange rate changes on cash	(10)	6
Net decrease in cash, cash equivalents and restricted cash	21	43
Cash, cash equivalents and restricted cash at beginning of period	108	57
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	129	100
Parent Company
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES	(22)	(8)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(1)	0
Proceeds from the sale of assets or affiliates	0
Investment in subsidiaries and affiliates, net of cash acquired	0	0
Other	1	0
Net cash flow used for investing activities	0	0
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	389
Proceeds from senior revolving credit and receivables securitization facilities	276	0
Proceeds from term loan borrowing	600
Payments on senior revolving credit and receivables securitization facilities	(155)	0
Dividends paid	(46)	(45)
Purchases of treasury stock	(111)	(72)
Other intercompany loans	(1,068)	122
Other	1	3
Net cash flow provided by financing activities	(114)	8
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	(136)	0
Cash, cash equivalents and restricted cash at beginning of period	143	6
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	7	6
Guarantor Subsidiaries
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES
NET CASH FLOW (USED FOR) PROVIDED BY OPERATING ACTIVITIES	(123)	(52)
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	(59)	(52)
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	(59)	(52)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	0
Proceeds from senior revolving credit and receivables securitization facilities	0	0
Proceeds from term loan borrowing	0
Payments on senior revolving credit and receivables securitization facilities	0	0
Dividends paid	0	0
Purchases of treasury stock	0	0
Other intercompany loans	191	50
Other	0	0
Net cash flow provided by financing activities	191	50
Effect of exchange rate changes on cash	0	0
Net decrease in cash, cash equivalents and restricted cash	9	(54)
Cash, cash equivalents and restricted cash at beginning of period	2	55
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 11	$ 1