Owens Corning (OC) 10-Q 24 Oct 18 2018 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2018	Oct. 16, 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	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Current Reporting Status	Yes
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock Shares Outstanding		109,319,759

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
NET SALES	$ 1,818	$ 1,703	$ 5,333	$ 4,778
COST OF SALES	1,370	1,280	4,112	3,605
Gross margin	448	423	1,221	1,173
OPERATING EXPENSES
Marketing and administrative expenses	159	159	531	456
Science and technology expenses	21	22	66	64
Other expenses, net	13	19	39	43
Total operating expenses	193	200	636	563
OPERATING INCOME	255	223	585	610
Non-operating (income) expense	(4)	(4)	(11)	23
EARNINGS BEFORE INTEREST AND TAXES	259	227	596	587
Interest expense, net	31	28	92	81
Loss on extinguishment of debt	0	(71)	0	(71)
EARNINGS BEFORE TAXES	228	128	504	435
Income tax expense	67	32	127	142
Equity in net earnings / (loss) of affiliates	1	0	(1)	0
NET EARNINGS	162	96	376	293
Net earnings attributable to noncontrolling interests	1	0	2	0
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 161	$ 96	$ 374	$ 293
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (in dollars per share)	$ 1.46	$ 0.86	$ 3.38	$ 2.63
Diluted (in dollars per share)	1.45	0.85	3.35	2.59
Dividend (in dollars per share)	$ 0.21	$ 0.2	$ 0.63	$ 0.60
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	110	111	110.8	111.6
Diluted (in shares)	110.9	112.7	111.7	113.2

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 162	$ 96	$ 376	$ 293
Currency translation adjustment (net of tax of $0 and $3 for the three months ended September 30, 2018 and 2017, respectively, and $(1) and $9 for the nine months ended September 30, 2018 and 2017, respectively)	(12)	27	(101)	92
Pension and other postretirement adjustment (net of tax of $(1) and $(1) for the three months ended September 30, 2018 and 2017, respectively, and $(3) and $(9) for the nine months ended September 30, 2018 and 2017, respectively)	1	2	3	16
Hedging adjustment (net of tax of $0 and $0 for the three months ended September 30, 2018 and 2017, respectively, and $0 and $2 for the nine months ended September 30, 2018 and 2017, respectively)	1	0	2	(3)
COMPREHENSIVE EARNINGS	152	125	280	398
Comprehensive earnings attributable to noncontrolling interests	1	0	2	0
COMPREHENSIVE EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 151	$ 125	$ 278	$ 398

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Currency translation tax		$ 3	$ (1)	$ 9
Pension and other postretirement tax	(1)	(1)	(3)	(9)
Hedging tax	$ 0	$ 0	$ (1)	$ 2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents		$ 136	$ 246
Receivables, less allowances of $18 at September 30, 2018 and $19 at December 31, 2017		955	806
Inventories		1,032	841
Assets held for sale		5	12
Other current assets		113	80
Total current assets		2,241	1,985
Property, plant and equipment, net		3,741	3,425
Goodwill		1,960	1,507
Intangible assets, net		1,799	1,360
Deferred income taxes		71	144
Other non-current assets		234	211
TOTAL ASSETS		10,046	8,632
CURRENT LIABILITIES
Accounts payable and accrued liabilities		1,381	1,277
Short-term debt		1	1
Long-term debt – current portion		4	4
Total current liabilities		1,386	1,282
Long-term debt, net of current portion		3,669	2,405
Pension plan liability		218	256
Other employee benefits liability		216	225
Deferred income taxes		124	37
Other liabilities		227	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		4,017	4,011
Accumulated earnings		1,867	1,575
Accumulated other comprehensive deficit		(610)	(514)
Cost of common stock in treasury	[3]	(1,110)	(911)
Total Owens Corning stockholders’ equity		4,165	4,162
Noncontrolling interests		41	42
Total equity		4,206	4,204
TOTAL LIABILITIES AND EQUITY		$ 10,046	$ 8,632
[1]	10 shares authorized; none issued or outstanding at September 30, 2018 and December 31, 2017
[2]	400 shares authorized; 135.5 issued and 109.3 outstanding at September 30, 2018; 135.5 issued and 111.5 outstanding at December 31, 2017
[3]	shares at September 30, 2018, and 24.0 shares at December 31, 2017

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 18	$ 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	109,300,000	111,500,000
Treasury stock shares	26,200,000	24,000,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS	$ 376	$ 293
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization	323	269
Gain on sale of fixed assets	(3)	0
Deferred income taxes	77	88
Provision for pension and other employee benefits liabilities	(1)	34
Stock-based compensation expense	34	30
Other non-cash	13	17
Loss on extinguishment of debt	0	71
Changes in operating assets and liabilities	(265)	(17)
Pension fund contributions	(34)	(68)
Payments for other employee benefits liabilities	(15)	(13)
Other	1	(10)
Net cash flow provided by operating activities	506	694
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Proceeds from the sale of assets or affiliates	11	3
Investment in subsidiaries and affiliates, net of cash acquired	(1,143)	(566)
Other	6	2
Net cash flow used for investing activities	(1,551)	(810)
Cash paid for property, plant and equipment	(425)	(249)
NET CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Proceeds from long-term debt	389	588
Proceeds from senior revolving credit and receivables securitization facilities	1,534	869
Payments on senior revolving credit and receivables securitization facilities	(1,227)	(736)
Proceeds from term loan borrowing	600	0
Payments on term loan borrowing	30	0
Payments on long-term debt	0	351
Net increase (decrease) in short-term debt	0	2
Dividends paid	(70)	(67)
Purchases of treasury stock	(236)	(159)
Other	(7)	8
Net cash flow provided by financing activities	953	154
Effect of exchange rate changes on cash	(17)	19
Net (decrease) increase in cash, cash equivalents and restricted cash	(109)	57
Cash, cash equivalents and restricted cash at beginning of period	253	118
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 144	$ 175

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 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 $8 million , $7 million , $7 million and $6 million as of September 30, 2018 , December 31, 2017 , September 30, 2017 and December 31, 2016 , respectively. Restricted cash primarily represents amounts received from a counterparty related to its performance assurance on an executory contract, which 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 of the Consolidated Financial Statements 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 and nine months ended September 30, 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, 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, 2018-01, 2018-10, and 2018-11 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 may elect to apply the provisions of the new leasing standard on January 1, 2019, without adjusting the comparative periods presented by recognizing a cumulative-effect adjustment to the opening balance of retained earnings. 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, implementing systems, developing processes and internal controls and finalizing our accounting policies 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. ASU 2018-14 "Compensation- Retirement Benefits- Defined Benefit Plans- General (Subtopic 715-20) This standard modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. January 1, 2020 We do not believe the adoption of this guidance will have a material effect on our consolidated financial statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 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 sold to the external customer. Three Months Ended Nine Months Ended 2018 2017 2018 2017 Reportable Segments Composites $ 508 $ 514 $ 1,560 $ 1,562 Insulation 710 568 1,988 1,406 Roofing 645 682 1,946 1,993 Total reportable segments 1,863 1,764 5,494 4,961 Corporate eliminations (45 ) (61 ) (161 ) (183 ) NET SALES $ 1,818 $ 1,703 $ 5,333 $ 4,778 External Customer Sales by Geographic Region United States $ 1,208 $ 1,197 $ 3,525 $ 3,387 Europe 304 194 909 481 Asia-Pacific 166 167 484 505 Rest of world 140 145 415 405 NET SALES $ 1,818 $ 1,703 $ 5,333 $ 4,778 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 Nine Months Ended 2018 2017 2018 2017 Reportable Segments Composites $ 64 $ 62 $ 195 $ 217 Insulation 94 64 175 98 Roofing 127 147 351 427 Total reportable segments 285 273 721 742 Restructuring costs (7 ) (8 ) (19 ) (37 ) Acquisition-related costs (1 ) (1 ) (16 ) (12 ) Recognition of acquisition inventory fair value step-up — (5 ) (2 ) (5 ) Litigation settlement gain, net of legal fees — — — 29 Pension settlement gains / (losses) — 2 — (28 ) General corporate expense and other (18 ) (34 ) (88 ) (102 ) Total corporate, other and eliminations (26 ) (46 ) (125 ) (155 ) EBIT $ 259 $ 227 $ 596 $ 587

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 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 nine months of 2018, Cost of Sales would have been $2 million higher on the Consolidated Statements of Earnings with no effect to the Consolidated Balance Sheet. 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 and nine months ended September 30, 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 September 30, 2018 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 62 $ 260 $ 560 $ (40 ) $ 842 U.S. commercial and industrial 157 161 52 (4 ) 366 Europe 142 159 3 — 304 Asia-Pacific 115 47 4 — 166 Rest of world 32 83 26 (1 ) 140 NET SALES $ 508 $ 710 $ 645 $ (45 ) $ 1,818 For the nine months ended September 30, 2018 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 213 $ 708 $ 1,696 $ (146 ) $ 2,471 U.S. commercial and industrial 452 469 141 (8 ) 1,054 Europe 455 444 10 — 909 Asia-Pacific 343 131 11 (1 ) 484 Rest of world 97 236 88 (6 ) 415 NET SALES $ 1,560 $ 1,988 $ 1,946 $ (161 ) $ 5,333 Please refer to Note 2 and 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 $14 million was recognized as revenue in the first nine months of 2018 . As of September 30, 2018 , our contract liability balances totaled $50 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	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): September 30, 2018 December 31, 2017 Finished goods $ 691 $ 562 Materials and supplies 341 279 Total inventories $ 1,032 $ 841

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 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 September 30, 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 September 30, 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 $ 2 $ 1 Foreign exchange forward contracts Other current assets $ 2 $ — Derivative liabilities designated as hedging instruments: Net investment hedges: Cross-currency swaps Other liabilities $ 34 $ 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 $ 46 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Accounts payable and accrued liabilities $ 2 $ 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 Nine Months Ended Location 2018 2017 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 ) $ — $ (1 ) $ (2 ) Cross-currency swap net investment hedges: Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing Interest expense, net $ (3 ) $ — $ (9 ) $ — Derivative activity not designated as hedging instruments: Natural gas: Amount of loss recognized in earnings Other expenses, net $ — $ — $ — $ 1 Foreign currency: Amount of (gain)/loss recognized in earnings (a) Other expenses, net $ (10 ) $ 2 $ (54 ) $ 6 (a) (Gains)/losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses, net . Please refer to the "Other Derivatives" section below for additional detail. Consolidated Statements of Comprehensive Earnings Activity The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (in millions): Amount of (Gain) Loss Recognized in Comprehensive Earnings Hedging Type Derivative Financial Instrument Three Months Ended September 30, 2018 Nine Months Ended Net investment hedge Cross-currency swaps $ (1 ) $ (2 ) Cash flow hedge Natural gas forward swaps $ — $ (2 ) 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 September 30, 2018 , the notional amounts of these natural gas forward swaps was 2 MMBtu (or MMBtu equivalent) based on U.S. and European indices. As of September 30, 2018 , the Company had notional amounts of $10 million for derivative financial instruments designated as cash flow hedges for foreign currency exposures in Polish Zloty primarily related to European Euro, and also $14 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 and 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 September 30, 2018 , $2 million of gains included in AOCI on the Consolidated Balance Sheet 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 September 30, 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 nine months of 2018 , the difference between the change in fair value of the excluded components and the amounts recognized to earnings was a $21 million increase to Accumulated other comprehensive deficit. 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 has 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 September 30, 2018 , the Company had notional amounts of $802 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 Group Oy ("Paroc"). In addition, the Company had notional amounts of $157 million for non-designated derivative financial instruments related to foreign currency exposures in European Euro primarily related to the Russian Ruble, Polish Zloty 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	9 Months Ended
	Sep. 30, 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): September 30, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 559 $ (132 ) $ 427 Technology 17 322 (128 ) 194 Other 14 60 (28 ) 32 Indefinite-lived intangible assets: Trademarks 1,146 — 1,146 Total intangible assets $ 2,087 $ (288 ) $ 1,799 Goodwill $ 1,960 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 nine 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) — 500 — 500 Foreign currency translation (2 ) (43 ) (2 ) (47 ) Balance at September 30, 2018 $ 56 $ 1,506 $ 398 $ 1,960 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) 215 73 213 7 508 Other additions, net — — — 6 6 Foreign currency translation (19 ) (6 ) (13 ) — (38 ) Balance at September 30, 2018 $ 559 $ 322 $ 1,146 $ 60 $ 2,087 The estimated amortization expense for intangible assets for the next five years is as follows (in millions): Period Amortization (a) 2019 $ 51 2020 $ 51 2021 $ 50 2022 $ 46 2023 $ 43 (a) The yearly amortization amounts in the table above include approximately $24 million of aggregate amortization expense related to the purchase price allocation of the acquisition of Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively, "Pittsburgh Corning") and the preliminary purchase price allocation of the Paroc acquisition. See Note 8 for more details of these acquisitions.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPTMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): September 30, December 31, 2017 Land $ 249 $ 251 Buildings and leasehold improvements 1,036 944 Machinery and equipment 4,533 4,211 Construction in progress 431 350 6,249 5,756 Accumulated depreciation (2,508 ) (2,331 ) Property, plant and equipment, net $ 3,741 $ 3,425 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 11% and 12% of total machinery and equipment as of September 30, 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	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS During the first nine months of 2018 , the Company completed acquisitions with an aggregate purchase price of $1,147 million , net of cash acquired. 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, and during the three months ended September 30, 2018 , the Company recorded immaterial measurement period adjustments to the purchase price allocation which are reflected in the value of the goodwill noted below. 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 $ 215 20 Technology - Know-how 61 15 Technology - Patented 12 5 Quarry Rights 7 45 Trademarks 213 Indefinite Total $ 508 During the first nine months of 2018 , the Consolidated Statements of Earnings included $337 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 $307 million , estimated net deferred tax liabilities of $99 million and net uncertain tax position liabilities of $40 million (which were recorded within Other non-current assets, Accounts payable and accrued liabilities and Other liabilities). Goodwill has been initially valued at approximately $482 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. 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 immaterial. Pittsburgh Corning Acquisition On June 27, 2017, the Company acquired all the outstanding equity of Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively, "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 purchase price allocation have been included in the Company's Insulation segment in the Consolidated Financial Statements. The following table details the identifiable indefinite and definite-lived intangible assets, their fair values and estimated weighted average useful lives (in millions): Type of Intangible Asset Fair Value Weighted Average Useful Life Customer relationships $ 107 19 Technology 37 15 Trademarks 101 Indefinite Total $ 245 During the first nine months of 2018 , the Consolidated Statements of Earnings included $128 million in Net sales attributable to the Pittsburgh Corning acquisition (related to the one-year post-acquisition period). Goodwill has been valued at $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. The acquisition also included cash of approximately $52 million . The pro forma effect of this acquisition on Net sales and Net earnings attributable to Owens Corning was not material.

WARRANTIES

WARRANTIES	9 Months Ended
	Sep. 30, 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): Nine Months Ended September 30, 2018 Beginning balance $ 55 Amounts accrued for current year 16 Settlements of warranty claims (11 ) Ending balance $ 60

RESTRUCTURING AND ACQUISITION-R

RESTRUCTURING AND ACQUISITION-RELATED COSTS	9 Months Ended
	Sep. 30, 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 nine months of 2018 , the Company incurred $16 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 nine months of 2018 on the Consolidated Statements of Earnings (in millions): Location Paroc Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 5 $ 2 $ 7 Other expenses, net 9 — 9 Total acquisition-related costs $ 14 $ 2 $ 16 Restructuring Costs Pittsburgh Corning Acquisition-Related Restructuring Following the acquisition of Pittsburgh Corning into the Company's Insulation segment, the Company took actions to realize expected synergies from the newly acquired operations. During the first nine months of 2018, the Company recorded $2 million of charges, comprised of $1 million of severance and $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 nine months of 2018 , the Company recorded $17 million of charges, comprised of $2 million of severance, $8 million of accelerated depreciation and $7 million from exit activities associated with these actions. The Company expects to recognize approximately $7 million of incremental costs throughout 2018 and 2019. 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 September 30, Nine Months Ended September 30, Type of cost Location 2018 2017 2018 2017 Accelerated depreciation Cost of sales $ 1 $ 7 $ 9 $ 9 Other exit costs Cost of sales 2 — 6 2 Severance Other expenses, net 1 1 3 26 Other exit costs Other expenses, net 3 — 1 — Total restructuring costs $ 7 $ 8 $ 19 $ 37 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 17 2 19 Payments (13 ) (3 ) (16 ) Non-cash items and reclassifications to other accounts (5 ) (1 ) (6 ) Balance at September 30, 2018 $ 10 $ 7 $ 17 Cumulative charges incurred $ 46 $ 19 $ 65 As of September 30, 2018 , the remaining liability balance is comprised of $14 million of severance, inclusive of $3 million of non-current severance and $11 million of severance the Company expects to pay over the next twelve months, and $3 million of contract termination fees.

DEBT

DEBT	9 Months Ended
	Sep. 30, 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): September 30, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value 4.20% senior notes, net of discount and financing fees, due 2022 $ 597 101 % $ 597 105 % 4.20% senior notes, net of discount and financing fees, due 2024 393 99 % 392 105 % 3.40% senior notes, net of discount and financing fees, due 2026 396 92 % 395 98 % 7.00% senior notes, net of discount and financing fees, due 2036 400 115 % 400 132 % 4.30% senior notes, net of discount and financing fees, due 2047 588 82 % 588 99 % 4.40% senior notes, net of discount and financing fees, due 2048 389 83 % — n/a Senior revolving credit facility, maturing in 2023 (a) 43 100 % — n/a Receivables securitization facility, maturing in 2020 (a) 264 100 % — n/a Various capital leases, due through and beyond 2050 (a) 28 100 % 31 100 % Term loan borrowing, maturing in 2021 (a) 570 100 % — n/a Unamortized interest rate swap basis adjustment 5 n/a 6 n/a Total long-term debt 3,673 n/a 2,409 n/a Less – current portion (a) 4 100 % 4 100 % Long-term debt, net of current portion $ 3,669 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 was 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 was 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. In May 2018, the Company entered into a new agreement covering our Senior Revolving Credit Facility. This new agreement, among other things, removed all subsidiaries of the Company as guarantors under our Senior Revolving Credit Facility, unless certain conditions precedent are met that do not exist at this time, and had the effect of removing the guarantees of such subsidiaries under our Senior Notes. In addition, we elected to amend our Registration Statement on Form S-3 to eliminate the guarantees of our Senior Notes as registered securities. The Company has the option to redeem all or part of the Senior Notes at any time at a “make-whole” redemption price. The Company is subject to certain covenants in connection with the issuance of the Senior Notes that it believes are usual and customary. The Company was in compliance with these covenants as of September 30, 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 is 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 Senior Revolving Credit Facility with a maturity date in May 2023. In May 2018, the Company entered into a new agreement to extend its maturity to May 2023 and remove all subsidiaries of the Company as guarantors under the Senior Revolving Credit Facility, unless certain conditions precedent are met that do not exist at this time. 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, federal funds rate plus a spread or LIBOR plus a spread. The Senior Revolving Credit Facility contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio, that the Company believes are usual and customary for a senior unsecured credit agreement. The Company was in compliance with these covenants as of September 30, 2018 . Please refer to the Credit Facility Utilization paragraph below for liquidity information as of September 30, 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"). 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 partial quarterly principal repayments and 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 such commitment. On May 4, 2018, the Company amended the terms of the $600 million term loan, among other things, to provide for a reduction in the applicable margin used in the calculation of interest on the outstanding indebtedness and mirror the terms of the new Senior Revolving Credit Facility. The Term Loan Commitment contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio, that the Company believes are usual and customary for a term loan. The Company was in compliance with these covenants as of September 30, 2018 . 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 vs. LIBOR, plus a fixed spread. The Receivables Securitization Facility contains various covenants, including a maximum allowed leverage ratio and a minimum required interest expense coverage ratio that the Company believes are usual and customary for a securitization facility. The Company was in compliance with these covenants as of September 30, 2018 . Please refer to the Credit Facility Utilization section below for liquidity information as of September 30, 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 who are party to the RPA. Owens Corning Receivables LLC is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of Owens Corning Receivables LLC’s assets prior to any assets or value in Owens Corning Receivables LLC becoming available to Owens Corning Receivables LLC’s equity holders. The assets of Owens Corning Receivables LLC are not available to pay creditors of the Company or any other affiliates of the Company or Owens Corning Sales, LLC. Credit Facility Utilization The following table shows how the Company utilized its primary sources of liquidity (in millions): Balance at September 30, 2018 Senior Revolving Credit Facility Receivables Securitization Facility Facility size or borrowing limit $ 800 $ 280 Collateral capacity limitation on availability n/a 13 Outstanding borrowings 43 264 Outstanding letters of credit 9 3 Availability on facility $ 748 $ — Short-Term Debt Short-term borrowings were $1 million as of September 30, 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 5.1% and 6.7% for September 30, 2018 and December 31, 2017 , respectively.

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 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) expense 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 September 30, 2017 Nine Months Ended September 30, 2017 Location Before Adoption Adoption Impact After Adoption Before Adoption Adoption Impact After Adoption Cost of sales $ 1,279 $ 1 $ 1,280 $ 3,602 $ 3 $ 3,605 Other expenses, net $ 15 $ 3 $ 18 $ 68 $ (25 ) $ 43 Non-operating (income) expense $ — $ (4 ) $ (4 ) $ — $ 23 $ 23 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 September 30, 2018 2017 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 1 $ 1 $ 2 $ 2 $ 1 $ 3 Interest cost 9 3 12 10 2 12 Expected return on plan assets (14 ) (4 ) (18 ) (14 ) (4 ) (18 ) Amortization of actuarial loss 3 1 4 3 — 3 Settlement loss — — — — (2 ) (2 ) Net periodic pension (gain)/cost $ (1 ) $ 1 $ — $ 1 $ (3 ) $ (2 ) Nine Months Ended September 30, 2018 2017 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 4 $ 4 $ 8 $ 5 $ 4 $ 9 Interest cost 26 10 36 30 10 40 Expected return on plan assets (41 ) (14 ) (55 ) (43 ) (16 ) (59 ) Amortization of actuarial loss 9 2 11 10 3 13 Settlement losses — — — — 28 28 Net periodic pension (gain)/cost $ (2 ) $ 2 $ — $ 2 $ 29 $ 31 The Company expects to contribute approximately $25 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 $34 million to the plans during the nine months ended September 30, 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 Nine Months Ended 2018 2017 2018 2017 Components of Net Periodic Benefit Cost Service cost $ — $ — $ 1 $ 2 Interest cost 3 2 6 6 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Amortization of actuarial loss (2 ) — (5 ) (2 ) Net periodic benefit cost/(gain) $ — $ 1 $ (1 ) $ 3

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	9 Months Ended
	Sep. 30, 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 include 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 September 30, 2018 , the Company was involved with a total of 23 sites worldwide, including 8 Superfund and state equivalent 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 September 30, 2018 , the Company had an accrual totaling $17 million for these costs, of which the current portion is $8 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	9 Months Ended
	Sep. 30, 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 September 30, 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 nine months ended September 30, 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 nine months ended September 30, 2018 , the Company recognized expense of less than $1 million related to the Company's stock options. The Company did not recognize any stock option expense during the three months ended September 30, 2018 . During both the three and nine months ended September 30, 2017 , the Company recognized expense of less than $1 million and $1 million , respectively, related to the Company's stock options. As of September 30, 2018 , there was no unrecognized compensation cost related to stock options. The total aggregate intrinsic value of options outstanding as of September 30, 2018 was $8 million . The following table summarizes the Company’s stock option activity: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 518,725 $ 37.17 Exercised (39,100 ) 37.05 Forfeited (750 ) 37.65 Ending Balance 478,875 $ 37.18 The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2018 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price 13.89 - 42.16 478,875 4.26 $ 37.18 478,875 4.26 $ 37.18 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 typically three or four years. The Stock Plan allows alternate vesting schedules for death, disability, and retirement. During the three and nine months ended September 30, 2018 , the Company recognized expense of $6 million and $17 million , respectively, related to the Company's restricted stock. During the three and nine months ended September 30, 2017 , the Company recognized expense of $5 million and $16 million , respectively, related to the Company's restricted stock. As of September 30, 2018 , there was $41 million of total unrecognized compensation cost related to restricted stock. That cost is expected to be recognized over a weighted-average period of 2.57 years. The total fair value of shares vested during the nine months ended September 30, 2018 and 2017 was $22 million and $18 million , respectively. The following table summarizes the Company’s restricted stock activity: Nine Months Ended September 30, 2018 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,752,136 $ 42.40 Granted 349,754 85.75 Vested (532,237 ) 41.63 Forfeited (69,737 ) 52.87 Ending Balance 1,499,916 $ 52.16 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 nine months ended September 30, 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 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 and nine months ended September 30, 2018 , the Company recognized expense of $5 million and $14 million , respectively, related to the Company's PSUs. During the three and nine months ended September 30, 2017 , the Company recognized expense of $4 million and $12 million , respectively, related to the Company's PSUs. As of September 30, 2018 , there was $19 million of total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.65 years. The following table summarizes the Company’s PSU activity: Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 451,148 $ 53.96 Granted 171,725 94.14 Forfeited (48,396 ) 60.92 Ending Balance 574,477 $ 65.38 Employee Stock Purchase Plan On April 18, 2013, the Company’s stockholders approved the Owens Corning Employee Stock Purchase Plan (ESPP). The ESPP is a tax-qualified plan under Section 423 of the Internal Revenue Code. The purchase price of shares purchased under the ESPP is equal to 85% of the lower of the fair market value of shares of Owens Corning common stock at the beginning or ending of the offering period, which is a six-month period ending on May 31 and November 30 of each year. At the approval date, 2.0 million shares were available for purchase under the ESPP. As of September 30, 2018 , 0.8 million shares remain available for purchase. During the three and nine months ended September 30, 2018 , the Company recognized expense of $1 million and $3 million , respectively, related to the Company's ESPP. During the three and nine months ended September 30, 2017 , the Company recognized expense of $1 million and $2 million , respectively, related to the Company's ESPP. As of September 30, 2018 , there was $1 million of total unrecognized compensation cost related to the ESPP.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2018 2017 2018 2017 Net earnings attributable to Owens Corning $ 161 $ 96 $ 374 $ 293 Weighted-average number of shares outstanding used for basic earnings per share 110.0 111.0 110.8 111.6 Non-vested restricted and performance shares 0.7 1.4 0.7 1.4 Options to purchase common stock 0.2 0.3 0.2 0.2 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 110.9 112.7 111.7 113.2 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 1.46 $ 0.86 $ 3.38 $ 2.63 Diluted $ 1.45 $ 0.85 $ 3.35 $ 2.59 For the three and nine months ended September 30, 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 0.3 million non-vested performance shares, due to their anti-dilutive effect. For the three and nine months ended September 30, 2017 , we did not have any non-vested performance shares that had an anti-dilutive effect on earnings per share. 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 3.0 million shares of its common stock for $203 million during the nine months ended September 30, 2018 , under the Repurchase Authorization. As of September 30, 2018 , 4.6 million shares remain available for repurchase under the Repurchase Authorization.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Income tax expense $ 67 $ 32 $ 127 $ 142 Effective tax rate 29 % 25 % 25 % 33 % The difference between the effective tax rate and the U.S. federal statutory tax rate of 21% for the three months ended September 30, 2018 is primarily due to U.S. state and local income tax expense, the impact of higher foreign tax rates, an increase in U.S. federal tax expense on foreign earnings and other discrete adjustments, offset by a reversal of a valuation allowance recorded in prior years against certain European net deferred tax assets. The difference between the effective tax rate and the U.S. federal statutory tax rate of 21% for the nine months ended September 30, 2018 is primarily due to U.S. state and local income tax expense, the impact of higher foreign tax rates, an increase in U.S. federal tax expense on foreign earnings, offset by excess tax benefits related to stock compensation, a reversal of a valuation allowance recorded in prior years against certain European net deferred tax assets and other discrete adjustments. The difference between the effective tax rate and the U.S. federal statutory tax rate of 35% for the three and nine months ended September 30, 2017 is primarily due to the reversal of a valuation allowance recorded in prior years against certain Asian net deferred tax assets, an increase in U.S. research and development tax credits, the benefit of lower foreign tax rates and other discrete adjustments. 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, a provisional charge was recorded in December 2017 based on reasonable estimates of certain effects of the Tax Act. Revised estimates in the third quarter resulted in a $2 million increase to the provisional charge. 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 of 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	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Currency Translation Adjustment Beginning balance $ (272 ) $ (219 ) $ (183 ) $ (284 ) Net investment hedge amounts classified into AOCI, net of tax 1 (6 ) 2 (15 ) (Loss)/gain on foreign currency translation (13 ) 33 (103 ) 107 Other comprehensive (loss)/income, net of tax (12 ) 27 (101 ) 92 Ending balance $ (284 ) $ (192 ) $ (284 ) $ (192 ) Pension and Other Postretirement Adjustment Beginning balance $ (329 ) $ (415 ) $ (331 ) $ (429 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 1 4 3 22 Amounts classified into AOCI, net of tax — (2 ) — (6 ) Other comprehensive income, net of tax 1 2 3 16 Ending balance $ (328 ) $ (413 ) $ (328 ) $ (413 ) Hedging Adjustment Beginning balance $ 1 $ — $ — $ 3 Amounts reclassified from AOCI to net earnings, net of tax (b) — — — (1 ) Amounts classified into AOCI, net of tax 1 — 2 (2 ) Other comprehensive (loss)/income, net of tax 1 — 2 (3 ) Ending balance $ 2 $ — $ 2 $ — Total AOCI ending balance $ (610 ) $ (605 ) $ (610 ) $ (605 ) (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.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 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 sold to the external customer. Three Months Ended Nine Months Ended 2018 2017 2018 2017 Reportable Segments Composites $ 508 $ 514 $ 1,560 $ 1,562 Insulation 710 568 1,988 1,406 Roofing 645 682 1,946 1,993 Total reportable segments 1,863 1,764 5,494 4,961 Corporate eliminations (45 ) (61 ) (161 ) (183 ) NET SALES $ 1,818 $ 1,703 $ 5,333 $ 4,778
Schedule of Revenues by Geographical Areas	External Customer Sales by Geographic Region United States $ 1,208 $ 1,197 $ 3,525 $ 3,387 Europe 304 194 909 481 Asia-Pacific 166 167 484 505 Rest of world 140 145 415 405 NET SALES $ 1,818 $ 1,703 $ 5,333 $ 4,778
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Reportable Segments Composites $ 64 $ 62 $ 195 $ 217 Insulation 94 64 175 98 Roofing 127 147 351 427 Total reportable segments 285 273 721 742 Restructuring costs (7 ) (8 ) (19 ) (37 ) Acquisition-related costs (1 ) (1 ) (16 ) (12 ) Recognition of acquisition inventory fair value step-up — (5 ) (2 ) (5 ) Litigation settlement gain, net of legal fees — — — 29 Pension settlement gains / (losses) — 2 — (28 ) General corporate expense and other (18 ) (34 ) (88 ) (102 ) Total corporate, other and eliminations (26 ) (46 ) (125 ) (155 ) EBIT $ 259 $ 227 $ 596 $ 587

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2018 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 62 $ 260 $ 560 $ (40 ) $ 842 U.S. commercial and industrial 157 161 52 (4 ) 366 Europe 142 159 3 — 304 Asia-Pacific 115 47 4 — 166 Rest of world 32 83 26 (1 ) 140 NET SALES $ 508 $ 710 $ 645 $ (45 ) $ 1,818 For the nine months ended September 30, 2018 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 213 $ 708 $ 1,696 $ (146 ) $ 2,471 U.S. commercial and industrial 452 469 141 (8 ) 1,054 Europe 455 444 10 — 909 Asia-Pacific 343 131 11 (1 ) 484 Rest of world 97 236 88 (6 ) 415 NET SALES $ 1,560 $ 1,988 $ 1,946 $ (161 ) $ 5,333

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): September 30, 2018 December 31, 2017 Finished goods $ 691 $ 562 Materials and supplies 341 279 Total inventories $ 1,032 $ 841

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 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 $ 2 $ 1 Foreign exchange forward contracts Other current assets $ 2 $ — Derivative liabilities designated as hedging instruments: Net investment hedges: Cross-currency swaps Other liabilities $ 34 $ 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 $ 46 $ 1 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Accounts payable and accrued liabilities $ 2 $ 1
Schedule of Fair Value Derivative Instruments Statements of Earnings Location	The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (in millions): Three Months Ended Nine Months Ended Location 2018 2017 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 ) $ — $ (1 ) $ (2 ) Cross-currency swap net investment hedges: Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing Interest expense, net $ (3 ) $ — $ (9 ) $ — Derivative activity not designated as hedging instruments: Natural gas: Amount of loss recognized in earnings Other expenses, net $ — $ — $ — $ 1 Foreign currency: Amount of (gain)/loss recognized in earnings (a) Other expenses, net $ (10 ) $ 2 $ (54 ) $ 6 (a) (Gains)/losses related to foreign currency derivatives were substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures, which were also recorded in Other expenses, net . The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (in millions): Amount of (Gain) Loss Recognized in Comprehensive Earnings Hedging Type Derivative Financial Instrument Three Months Ended September 30, 2018 Nine Months Ended Net investment hedge Cross-currency swaps $ (1 ) $ (2 ) Cash flow hedge Natural gas forward swaps $ — $ (2 )

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 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 $ 51 2020 $ 51 2021 $ 50 2022 $ 46 2023 $ 43 Intangible assets and goodwill consist of the following (in millions): September 30, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 559 $ (132 ) $ 427 Technology 17 322 (128 ) 194 Other 14 60 (28 ) 32 Indefinite-lived intangible assets: Trademarks 1,146 — 1,146 Total intangible assets $ 2,087 $ (288 ) $ 1,799 Goodwill $ 1,960 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 fair values and estimated weighted average useful lives (in millions): Type of Intangible Asset 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 $ 215 20 Technology - Know-how 61 15 Technology - Patented 12 5 Quarry Rights 7 45 Trademarks 213 Indefinite Total $ 508
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) 215 73 213 7 508 Other additions, net — — — 6 6 Foreign currency translation (19 ) (6 ) (13 ) — (38 ) Balance at September 30, 2018 $ 559 $ 322 $ 1,146 $ 60 $ 2,087
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) — 500 — 500 Foreign currency translation (2 ) (43 ) (2 ) (47 ) Balance at September 30, 2018 $ 56 $ 1,506 $ 398 $ 1,960

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in millions): September 30, December 31, 2017 Land $ 249 $ 251 Buildings and leasehold improvements 1,036 944 Machinery and equipment 4,533 4,211 Construction in progress 431 350 6,249 5,756 Accumulated depreciation (2,508 ) (2,331 ) Property, plant and equipment, net $ 3,741 $ 3,425

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 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 $ 51 2020 $ 51 2021 $ 50 2022 $ 46 2023 $ 43 Intangible assets and goodwill consist of the following (in millions): September 30, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Customer relationships 20 $ 559 $ (132 ) $ 427 Technology 17 322 (128 ) 194 Other 14 60 (28 ) 32 Indefinite-lived intangible assets: Trademarks 1,146 — 1,146 Total intangible assets $ 2,087 $ (288 ) $ 1,799 Goodwill $ 1,960 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 fair values and estimated weighted average useful lives (in millions): Type of Intangible Asset 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 $ 215 20 Technology - Know-how 61 15 Technology - Patented 12 5 Quarry Rights 7 45 Trademarks 213 Indefinite Total $ 508

WARRANTIES (Tables)

WARRANTIES (Tables)	9 Months Ended
	Sep. 30, 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): Nine Months Ended September 30, 2018 Beginning balance $ 55 Amounts accrued for current year 16 Settlements of warranty claims (11 ) Ending balance $ 60

RESTRUCTURING AND ACQUISITION_2

RESTRUCTURING AND ACQUISITION-RELATED COSTS (Tables)	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Acquisition-Related Costs During the first nine months of 2018 , the Company incurred $16 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 nine months of 2018 on the Consolidated Statements of Earnings (in millions): Location Paroc Acquisition Pittsburgh Corning Acquisition Total Marketing and administrative expenses $ 5 $ 2 $ 7 Other expenses, net 9 — 9 Total acquisition-related costs $ 14 $ 2 $ 16
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 September 30, Nine Months Ended September 30, Type of cost Location 2018 2017 2018 2017 Accelerated depreciation Cost of sales $ 1 $ 7 $ 9 $ 9 Other exit costs Cost of sales 2 — 6 2 Severance Other expenses, net 1 1 3 26 Other exit costs Other expenses, net 3 — 1 — Total restructuring costs $ 7 $ 8 $ 19 $ 37
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 17 2 19 Payments (13 ) (3 ) (16 ) Non-cash items and reclassifications to other accounts (5 ) (1 ) (6 ) Balance at September 30, 2018 $ 10 $ 7 $ 17 Cumulative charges incurred $ 46 $ 19 $ 65 As of September 30, 2018 , the remaining liability balance is comprised of $14 million of severance, inclusive of $3 million of non-current severance and $11 million of severance the Company expects to pay over the next twelve months, and $3 million of contract termination fees.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 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): September 30, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value 4.20% senior notes, net of discount and financing fees, due 2022 $ 597 101 % $ 597 105 % 4.20% senior notes, net of discount and financing fees, due 2024 393 99 % 392 105 % 3.40% senior notes, net of discount and financing fees, due 2026 396 92 % 395 98 % 7.00% senior notes, net of discount and financing fees, due 2036 400 115 % 400 132 % 4.30% senior notes, net of discount and financing fees, due 2047 588 82 % 588 99 % 4.40% senior notes, net of discount and financing fees, due 2048 389 83 % — n/a Senior revolving credit facility, maturing in 2023 (a) 43 100 % — n/a Receivables securitization facility, maturing in 2020 (a) 264 100 % — n/a Various capital leases, due through and beyond 2050 (a) 28 100 % 31 100 % Term loan borrowing, maturing in 2021 (a) 570 100 % — n/a Unamortized interest rate swap basis adjustment 5 n/a 6 n/a Total long-term debt 3,673 n/a 2,409 n/a Less – current portion (a) 4 100 % 4 100 % Long-term debt, net of current portion $ 3,669 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 September 30, 2018 Senior Revolving Credit Facility Receivables Securitization Facility Facility size or borrowing limit $ 800 $ 280 Collateral capacity limitation on availability n/a 13 Outstanding borrowings 43 264 Outstanding letters of credit 9 3 Availability on facility $ 748 $ —

PENSION PLANS AND OTHER POSTR_2

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2017 Nine Months Ended September 30, 2017 Location Before Adoption Adoption Impact After Adoption Before Adoption Adoption Impact After Adoption Cost of sales $ 1,279 $ 1 $ 1,280 $ 3,602 $ 3 $ 3,605 Other expenses, net $ 15 $ 3 $ 18 $ 68 $ (25 ) $ 43 Non-operating (income) expense $ — $ (4 ) $ (4 ) $ — $ 23 $ 23
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Benefit Costs	The following tables provide information regarding pension expense recognized (in millions): Three Months Ended September 30, 2018 2017 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 1 $ 1 $ 2 $ 2 $ 1 $ 3 Interest cost 9 3 12 10 2 12 Expected return on plan assets (14 ) (4 ) (18 ) (14 ) (4 ) (18 ) Amortization of actuarial loss 3 1 4 3 — 3 Settlement loss — — — — (2 ) (2 ) Net periodic pension (gain)/cost $ (1 ) $ 1 $ — $ 1 $ (3 ) $ (2 ) Nine Months Ended September 30, 2018 2017 U.S. Non-U.S. Total U.S. Non-U.S. Total Components of Net Periodic Pension Cost Service cost $ 4 $ 4 $ 8 $ 5 $ 4 $ 9 Interest cost 26 10 36 30 10 40 Expected return on plan assets (41 ) (14 ) (55 ) (43 ) (16 ) (59 ) Amortization of actuarial loss 9 2 11 10 3 13 Settlement losses — — — — 28 28 Net periodic pension (gain)/cost $ (2 ) $ 2 $ — $ 2 $ 29 $ 31
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Benefit Costs	The following table provides the components of net periodic benefit cost for aggregated U.S. and non-U.S. plans for the periods indicated (in millions): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Components of Net Periodic Benefit Cost Service cost $ — $ — $ 1 $ 2 Interest cost 3 2 6 6 Amortization of prior service cost (1 ) (1 ) (3 ) (3 ) Amortization of actuarial loss (2 ) — (5 ) (2 ) Net periodic benefit cost/(gain) $ — $ 1 $ (1 ) $ 3

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 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: Nine Months Ended Number of Options Weighted- Average Exercise Price Beginning Balance 518,725 $ 37.17 Exercised (39,100 ) 37.05 Forfeited (750 ) 37.65 Ending Balance 478,875 $ 37.18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable	The following table summarizes information about the Company’s options outstanding and exercisable: Options Outstanding Options Exercisable Options Outstanding Weighted-Average Number Exercisable at September 30, 2018 Weighted-Average Range of Exercise Prices Remaining Contractual Life Exercise Price Remaining Contractual Life Exercise Price 13.89 - 42.16 478,875 4.26 $ 37.18 478,875 4.26 $ 37.18
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the Company’s restricted stock activity: Nine Months Ended September 30, 2018 Number of Shares/Units Weighted-Average Grant-Date Fair Value Beginning Balance 1,752,136 $ 42.40 Granted 349,754 85.75 Vested (532,237 ) 41.63 Forfeited (69,737 ) 52.87 Ending Balance 1,499,916 $ 52.16
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest	The following table summarizes the Company’s PSU activity: Nine Months Ended Number of PSUs Weighted-Average Grant-Date Fair Value Beginning Balance 451,148 $ 53.96 Granted 171,725 94.14 Forfeited (48,396 ) 60.92 Ending Balance 574,477 $ 65.38

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2018 2017 2018 2017 Net earnings attributable to Owens Corning $ 161 $ 96 $ 374 $ 293 Weighted-average number of shares outstanding used for basic earnings per share 110.0 111.0 110.8 111.6 Non-vested restricted and performance shares 0.7 1.4 0.7 1.4 Options to purchase common stock 0.2 0.3 0.2 0.2 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share 110.9 112.7 111.7 113.2 Earnings per common share attributable to Owens Corning common stockholders: Basic $ 1.46 $ 0.86 $ 3.38 $ 2.63 Diluted $ 1.45 $ 0.85 $ 3.35 $ 2.59

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Income tax expense $ 67 $ 32 $ 127 $ 142 Effective tax rate 29 % 25 % 25 % 33 %

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFCIT (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Currency Translation Adjustment Beginning balance $ (272 ) $ (219 ) $ (183 ) $ (284 ) Net investment hedge amounts classified into AOCI, net of tax 1 (6 ) 2 (15 ) (Loss)/gain on foreign currency translation (13 ) 33 (103 ) 107 Other comprehensive (loss)/income, net of tax (12 ) 27 (101 ) 92 Ending balance $ (284 ) $ (192 ) $ (284 ) $ (192 ) Pension and Other Postretirement Adjustment Beginning balance $ (329 ) $ (415 ) $ (331 ) $ (429 ) Amounts reclassified from AOCI to net earnings, net of tax (a) 1 4 3 22 Amounts classified into AOCI, net of tax — (2 ) — (6 ) Other comprehensive income, net of tax 1 2 3 16 Ending balance $ (328 ) $ (413 ) $ (328 ) $ (413 ) Hedging Adjustment Beginning balance $ 1 $ — $ — $ 3 Amounts reclassified from AOCI to net earnings, net of tax (b) — — — (1 ) Amounts classified into AOCI, net of tax 1 — 2 (2 ) Other comprehensive (loss)/income, net of tax 1 — 2 (3 ) Ending balance $ 2 $ — $ 2 $ — Total AOCI ending balance $ (610 ) $ (605 ) $ (610 ) $ (605 ) (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.

GENERAL (Details)

GENERAL (Details) - USD ($) $ in Millions	Jan. 01, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash		$ 8	$ 7	$ 7	$ 6
Operating Income (Loss) | Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pension expense	$ (60)
Nonoperating Income (Expense) | Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pension expense	$ 60

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)
Segment Reporting, Significant Reconciling Item [Line Items]
Number of reportable segments | segment			3
NET SALES	$ 1,818	$ 1,703	$ 5,333	$ 4,778
EBIT	259	227	596	587
Restructuring costs	(7)	(8)	(19)	(37)
Acquisition-related costs	(1)	(1)	(16)	(12)
Recognition of acquisition inventory fair value step-up	0	5	2	5
Litigation settlement gain, net of legal fees	13	19	39	43
General corporate expense and other	(18)	(34)	(88)	(102)
U.S.
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	1,208	1,197	3,525	3,387
Europe
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	304	194	909	481
Asia-Pacific
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	166	167	484	505
Other Geographical
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	140	145	415	405
Composites
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	508	514	1,560	1,562
EBIT	64	62	195	217
Insulation
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	710	568	1,988	1,406
EBIT	94	64	175	98
Roofing
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	645	682	1,946	1,993
EBIT	127	147	351	427
Total Segments
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	1,863	1,764	5,494	4,961
EBIT	285	273	721	742
Corporate Eliminations
Segment Reporting, Significant Reconciling Item [Line Items]
NET SALES	(45)	(61)	(161)	(183)
EBIT	(26)	(46)	(125)	(155)
Other expenses, net
Segment Reporting, Significant Reconciling Item [Line Items]
Acquisition-related costs			(9)
Litigation settlement gain, net of legal fees	0	0	0	29
Pension Plan
Segment Reporting, Significant Reconciling Item [Line Items]
Pension settlement gains / (losses)	0	2	0	(28)
Foreign Plan | Pension Plan
Segment Reporting, Significant Reconciling Item [Line Items]
Pension settlement gains / (losses)	$ 0	$ 2	$ 0	$ (28)

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accumulated earnings	$ 1,867		$ 1,575
Inventories	1,032		$ 841
Revenue, remaining performance obligation	2
Contract liability	50	$ 46
Contract liability, revenue recognized	$ 14
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	P16Y
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	P20Y
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) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 1,818	$ 5,333
Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	304	909
Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	166	484
Rest of world
Disaggregation of Revenue [Line Items]
Disaggregated revenue	140	415
Composites
Disaggregation of Revenue [Line Items]
Disaggregated revenue	508	1,560
Composites | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	142	455
Composites | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	115	343
Composites | Rest of world
Disaggregation of Revenue [Line Items]
Disaggregated revenue	32	97
Insulation
Disaggregation of Revenue [Line Items]
Disaggregated revenue	710	1,988
Insulation | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	159	444
Insulation | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	47	131
Insulation | Rest of world
Disaggregation of Revenue [Line Items]
Disaggregated revenue	83	236
Roofing
Disaggregation of Revenue [Line Items]
Disaggregated revenue	645	1,946
Roofing | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	3	10
Roofing | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	4	11
Roofing | Rest of world
Disaggregation of Revenue [Line Items]
Disaggregated revenue	26	88
Eliminations
Disaggregation of Revenue [Line Items]
Disaggregated revenue	(45)	(161)
Eliminations | Europe
Disaggregation of Revenue [Line Items]
Disaggregated revenue	0	0
Eliminations | Asia-Pacific
Disaggregation of Revenue [Line Items]
Disaggregated revenue	0	(1)
Eliminations | Rest of world
Disaggregation of Revenue [Line Items]
Disaggregated revenue	(1)	(6)
U.S. residential | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	842	2,471
U.S. residential | Composites | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	62	213
U.S. residential | Insulation | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	260	708
U.S. residential | Roofing | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	560	1,696
U.S. residential | Eliminations | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	(40)	(146)
U.S. commercial and industrial | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	366	1,054
U.S. commercial and industrial | Composites | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	157	452
U.S. commercial and industrial | Insulation | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	161	469
U.S. commercial and industrial | Roofing | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	52	141
U.S. commercial and industrial | Eliminations | U.S.
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ (4)	$ (8)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 691	$ 562
Materials and supplies	341	279
Total inventories	$ 1,032	$ 841

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS BALANCE SHEET (Details) - USD ($) $ in Millions	Sep. 30, 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	2	1
Other Current Assets | Designated as Hedging Instrument | Cash Flow Hedging | Foreign exchange forward contracts
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	2	0
Other Current Assets | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	46	1
Other Liabilities | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	34	38
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 | Designated as Hedging Instrument | Cash Flow Hedging | Foreign exchange forward contracts
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	0	0
Accounts Payable and Accrued Liabilities | Nondesignated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 2	$ 1

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS INCOME STATEMENT (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cost of sales | Designated as Hedging Instrument | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of gain reclassified from AOCI into earnings		$ (1)	$ 0	$ (1)	$ (2)
Interest expense, net | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Derivative, Gain on Derivative		(3)	0	(9)	0
Amount of (gain)/loss recognized in earnings		0	0	(1)	1
Other expenses, net | Nondesignated as Hedging Instrument | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings		0	0	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]	(10)	$ 2	(54)	$ 6
Net Investment Hedging | Cross Currency Interest Rate Contract
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings		1		2
Cash Flow Hedging | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of (gain)/loss recognized in earnings		$ 0		$ 2
[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 INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS CASH FLOW (Details) € in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018EUR (€)MMBTU	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)MMBTU	Dec. 31, 2017USD ($)
Derivative [Line Items]
Derivative, nonmonetary notional amount | MMBTU	2		2
Net fair value liability			$ 21
Cash flow hedge gain (loss) to be reclassified within twelve months		$ 2
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 contracts
Derivative [Line Items]
Derivative, notional amount			$ 10
Sweden | Foreign exchange forward contracts
Derivative [Line Items]
Derivative, notional amount			14
U.S. | Foreign exchange forward contracts
Derivative [Line Items]
Derivative, notional amount			802	$ 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 contracts
Derivative [Line Items]
Derivative, notional amount			$ 157
Euro Member Countries, Euro | Cross Currency Interest Rate Contract
Derivative [Line Items]
Derivative, notional amount | €	€ 516

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 2,087	$ 1,611
Accumulated amortization	(288)	(251)
Intangible assets, net	1,799	1,360
Goodwill	$ 1,960	$ 1,507
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	20 years	20 years
Gross carrying amount	$ 559	$ 363
Accumulated amortization	(132)	(109)
Net carrying amount	$ 427	$ 254
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	17 years	18 years
Gross carrying amount	$ 322	$ 255
Accumulated amortization	(128)	(116)
Net carrying amount	$ 194	$ 139
Other
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	14 years	8 years
Gross carrying amount	$ 60	$ 47
Accumulated amortization	(28)	(26)
Net carrying amount	32	21
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,146	946
Accumulated amortization	0	0
Indefinite-lived intangible assets	$ 1,146	$ 946

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - GOODWILL ROLLFORWARD (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Goodwill [Line Items]
Balance at beginning of period	$ 1,507
Goodwill, acquired during period	500
Foreign currency translation	(47)
Balance at end of period	1,960
Composites
Goodwill [Line Items]
Balance at beginning of period	58
Goodwill, acquired during period	0
Foreign currency translation	(2)
Balance at end of period	56
Insulation
Goodwill [Line Items]
Balance at beginning of period	1,049
Goodwill, acquired during period	500
Foreign currency translation	(43)
Balance at end of period	1,506
Roofing
Goodwill [Line Items]
Balance at beginning of period	400
Goodwill, acquired during period	0
Foreign currency translation	(2)
Balance at end of period	$ 398

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - INTANGIBLE ASSETS ROLLFORWARD (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period		$ 1,611,000,000
Other additions, net	$ 6,000,000
Foreign currency translation		(38,000,000)
Balance at end of period	2,087,000,000	2,087,000,000
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		24,000,000
Intangible assets acquired		508,000,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period		363,000,000
Other additions, net	0
Foreign currency translation		(19,000,000)
Balance at end of period	559,000,000	559,000,000
Customer relationships | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired		215,000,000
Technology
Finite-Lived Intangible Assets [Line Items]
Balance at beginning of period		255,000,000
Other additions, net	0
Foreign currency translation		(6,000,000)
Balance at end of period	322,000,000	322,000,000
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		(13,000,000)
Balance at end of period	1,146,000,000	1,146,000,000
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	6,000,000
Foreign currency translation		0
Balance at end of period	$ 60,000,000	60,000,000
Other | Pittsburgh Corning
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired		$ 7,000,000

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Expense (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
2,019	$ 51	[1]
2,020	51	[1]
2,021	50	[1]
2,022	46	[1]
2,023	43	[1]
Pittsburgh Corning and Paroc Group
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 24
[1]	The yearly amortization amounts in the table above include approximately $24 million of aggregate amortization expense related to the purchase price allocation of the acquisition of Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively, "Pittsburgh Corning") and the preliminary purchase price allocation of the Paroc acquisition. See Note 8 for more details of these acquisitions.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 6,249	$ 5,756
Accumulated depreciation	(2,508)	(2,331)
Property, plant and equipment, net	$ 3,741	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	$ 249	251
Buildings and leasehold improvements
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	1,036	944
Machinery and equipment
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	4,533	4,211
Construction in progress
Property Plant And Equipment [Line Items]
Property plant and equipment, gross	$ 431	$ 350

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) € in Millions	Feb. 05, 2018EUR (€)	Feb. 05, 2018USD ($)	Jun. 27, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Business Acquisition [Line Items]
Business combination, consideration transferred						$ 1,147,000,000
Purchase price, net of cash acquired						1,143,000,000	$ 566,000,000
Net sales				$ 1,818,000,000	$ 1,703,000,000	5,333,000,000	4,778,000,000
Cost of sales				1,370,000,000	$ 1,280,000,000	4,112,000,000	$ 3,605,000,000
Goodwill, acquired during period						500,000,000
Paroc Group
Business Acquisition [Line Items]
Purchase price, net of cash acquired	€ 900	$ 1,121,000,000
Net sales						337,000,000
Cost of sales						2,000,000
Property, plant, and equipment acquired				307,000,000		307,000,000
Deferred tax liabilities				99,000,000		99,000,000
Income tax liability						40,000,000
Goodwill, acquired during period						482,000,000
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				128,000,000
Goodwill, expected tax deductible amount				$ 0		$ 0

ACQUISITIONS - Intangible Asset

ACQUISITIONS - Intangible Assets Acquired (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 508
Pittsburgh Corning
Business Acquisition [Line Items]
Intangible assets acquired	245
Customer relationships | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 215
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	$ 61
Weighted average useful life	15 years
Technology - Patented | Paroc Group
Business Acquisition [Line Items]
Intangible assets acquired	$ 12
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	9 Months Ended
	Sep. 30, 2018USD ($)
Movement In Standard And Extended Product Warranty Increase Decrease Roll Forward
Product warranty accrual, beginning balance	$ 55
Amounts accrued for current year	16
Settlements of warranty claims	(11)
Product warranty accrual, ending balance	$ 60

RESTRUCTURING AND ACQUISITION_3

RESTRUCTURING AND ACQUISITION-RELATED COSTS ACQUISITIONS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	$ 1	$ 1	$ 16	$ 12
Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			7
Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			9
Paroc Group
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			14
Paroc Group | Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			5
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			2
Pittsburgh Corning | Marketing and administrative expenses
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			2
Pittsburgh Corning | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Acquisition related costs			$ 0

RESTRUCTURING AND ACQUISITION_4

RESTRUCTURING AND ACQUISITION-RELATED COSTS RESTRUCTURING (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 7	$ 8	$ 19	$ 37
Payments			(16)
Non-cash items and reclassifications to other accounts			(6)
Restructuring reserve	17		17		$ 20
Cumulative charges incurred	65		65
Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring costs			2
Payments			(3)
Non-cash items and reclassifications to other accounts			(1)
Restructuring reserve	7		7		9
Cumulative charges incurred	19		19
Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs			17
Restructuring and related cost, accelerated depreciation			8
Payments			(13)
Non-cash items and reclassifications to other accounts			(5)
Restructuring reserve	10		10		$ 11
Cumulative charges incurred	46		46
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	14		14
Restructuring reserve, noncurrent	3		3
Restructuring reserve, current	11		11
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			2
Employee Severance | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1	1	3	26
Additional Exit Costs | Cost Reductions Actions 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs			7
Restructuring and related cost, expected cost remaining	7		7
Additional Exit Costs | Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2	0	6	2
Additional Exit Costs | Cost Reductions Actions 2017 | Other expenses, net
Restructuring Cost and Reserve [Line Items]
Restructuring costs	3	0	1	0
Accelerated Depreciation | Pittsburgh Corning Related Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, accelerated depreciation			1
Accelerated Depreciation | Cost Reductions Actions 2017 | Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, accelerated depreciation	1	$ 7	9	$ 9
Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, current	$ 3		$ 3

DEBT (Details)

DEBT (Details)		3 Months Ended				9 Months Ended
		Sep. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	May 04, 2018USD ($)	Apr. 01, 2018USD ($)	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		$ 3,673,000,000				$ 3,673,000,000					$ 2,409,000,000
Fair value long-term debt	[1]	100.00%				100.00%					100.00%
Unamortized interest rate swap basis adjustment		$ 5,000,000				$ 5,000,000					$ 6,000,000
Long-term debt, current maturities		4,000,000				4,000,000					4,000,000
Long-term debt, net of current portion		3,669,000,000				3,669,000,000					2,405,000,000
Line of credit facility, maximum borrowing capacity																$ 800,000,000
Short-term debt		$ 1,000,000				$ 1,000,000					$ 1,000,000
Debt instrument, term						1 year
Short-term debt, weighted average interest rate, at point in time		5.10%				5.10%					6.70%
Senior Notes Due 2022
Debt Instrument [Line Items]
Long-term debt		$ 597,000,000				$ 597,000,000					$ 597,000,000
Fair value long-term debt		101.00%				101.00%					105.00%
Long-term debt, percentage rate		4.20%				4.20%					4.20%
Debt instrument, face amount																		$ 600,000,000
Debt instrument, interest rate, stated percentage															4.20%
Senior Notes Due 2024
Debt Instrument [Line Items]
Long-term debt		$ 393,000,000				$ 393,000,000					$ 392,000,000
Fair value long-term debt		99.00%				99.00%					105.00%
Long-term debt, percentage rate		4.20%				4.20%					4.20%
Debt instrument, face amount																	$ 400,000,000
Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term debt		$ 396,000,000				$ 396,000,000					$ 395,000,000
Fair value long-term debt		92.00%				92.00%					98.00%
Long-term debt, percentage rate		3.40%				3.40%					3.40%
Debt instrument, face amount														$ 400,000,000
Senior Notes Due 2036
Debt Instrument [Line Items]
Long-term debt		$ 400,000,000				$ 400,000,000					$ 400,000,000
Fair value long-term debt		115.00%				115.00%					132.00%
Long-term debt, percentage rate		7.00%				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					$ 588,000,000
Fair value long-term debt		82.00%				82.00%					99.00%
Long-term debt, percentage rate		4.30%				4.30%
Debt instrument, face amount													$ 600,000,000
Senior Notes Due 2048
Debt Instrument [Line Items]
Long-term debt		$ 389,000,000				$ 389,000,000					$ 0
Fair value long-term debt		83.00%				83.00%
Long-term debt, percentage rate		4.40%				4.40%
Debt instrument, face amount										$ 400,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt		$ 43,000,000				$ 43,000,000					0
Fair value long-term debt	[1]	100.00%				100.00%
Receivables securitization facility, maturing in 2020
Debt Instrument [Line Items]
Long-term debt		$ 264,000,000				$ 264,000,000					0
Fair value long-term debt	[1]	100.00%				100.00%
Capital Lease Obligations
Debt Instrument [Line Items]
Long-term debt		$ 28,000,000				$ 28,000,000					$ 31,000,000
Fair value long-term debt	[1]	100.00%				100.00%					100.00%
Term loan borrowings, maturing in 2021
Debt Instrument [Line Items]
Long-term debt		$ 570,000,000				$ 570,000,000					$ 0
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]
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]
Proceeds from issuance of debt			$ 600,000,000
Line of credit facility, maximum borrowing capacity		800,000,000				$ 800,000,000		$ 600,000,000				$ 600,000,000
Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Long-term debt, current maturities							$ 250,000,000		$ 280,000,000
Line of credit facility, maximum borrowing capacity		$ 280,000,000				$ 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	Sep. 30, 2018	May 04, 2018	Oct. 27, 2017	Dec. 31, 2015
Debt Instrument [Line Items]
Facility size or borrowing limit				$ 800
Senior Revolving Credit Facility B
Debt Instrument [Line Items]
Facility size or borrowing limit	$ 800	$ 600	$ 600
Outstanding borrowings	43
Outstanding letters of credit	9
Availability on facility	748
Letter Of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Facility size or borrowing limit	280
Collateral capacity limitation on availability	13
Outstanding borrowings	264
Outstanding letters of credit	3
Availability on facility	$ 0

PENSION PLANS AND OTHER POSTR_3

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Cost of sales	$ 1,370	$ 1,280	$ 4,112	$ 3,605
Other expenses, net	13	19	39	43
Non-operating (income) expense	$ (4)	(4)	$ (11)	23
Accounting Standards Update 2017-07
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		1,280		3,605
Other expenses, net		18		43
Non-operating (income) expense		(4)		23
Accounting Standards Update 2017-07 | Before Adoption
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		1,279		3,602
Other expenses, net		15		68
Non-operating (income) expense		0		0
Accounting Standards Update 2017-07 | Adoption Impact
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		1		3
Other expenses, net		3		(25)
Non-operating (income) expense		$ (4)		$ 23

PENSION PLANS AND OTHER POSTR_4

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 2	$ 3	$ 8	$ 9
Interest cost	12	12	36	40
Expected return on plan assets	(18)	(18)	(55)	(59)
Amortization of prior service cost			11	13
Amortization of actuarial loss	4	3
Settlement loss	0	(2)	0	28
Net periodic pension (gain)/cost	0	(2)	0	31
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Contributions by employer			34
Other Postretirement Benefits Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0	1	2
Interest cost	3	2	6	6
Amortization of prior service cost	(1)	(1)	(3)	(3)
Amortization of actuarial loss	(2)	0	(5)	(2)
Net periodic pension (gain)/cost	0	1	(1)	3
U.S. | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	2	4	5
Interest cost	9	10	26	30
Expected return on plan assets	(14)	(14)	(41)	(43)
Amortization of prior service cost			9	10
Amortization of actuarial loss	3	3
Settlement loss	0	0	0	0
Net periodic pension (gain)/cost	(1)	1	(2)	2
Foreign Plan | Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1	4	4
Interest cost	3	2	10	10
Expected return on plan assets	(4)	(4)	(14)	(16)
Amortization of prior service cost			2	3
Amortization of actuarial loss	1	0
Settlement loss	0	(2)	0	28
Net periodic pension (gain)/cost	$ 1	$ (3)	$ 2	$ 29
Scenario, Forecast | U.S. | Pension Plan
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
Expected future employer contributions, current fiscal year					$ 25
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 OT_2

CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions	Sep. 30, 2018USD ($)site
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	23
Environmental exit costs, accrual | $	$ 17
Environmental exit costs, accrual, current | $	$ 8
Superfund Site
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	8
Owned or Formally Owned Sites
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	15

STOCK COMPENSATION - Narrative

STOCK COMPENSATION - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)shares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)shares	Sep. 30, 2017USD ($)	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)	$ 0	$ 1,000,000	$ 1,000,000	$ 1,000,000
Compensation not yet recognized, stock options	0		0
Intrinsic value	8,000,000		8,000,000
Employee emergence equity program expense	1,000,000	1,000,000	3,000,000	2,000,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense (less than)	6,000,000	5,000,000	17,000,000	16,000,000
Compensation cost not yet recognized	41,000,000		$ 41,000,000
Expected term (in years)			2 years 6 months 26 days
Vested in period, fair value			$ 22,000,000	18,000,000
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)	5,000,000	$ 4,000,000	$ 14,000,000	$ 12,000,000
Compensation cost not yet recognized	$ 19,000,000		$ 19,000,000
Period for recognition (in years)			1 year 7 months 25 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		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	800,000		800,000
Allocated share based compensation expense (less than)			$ 1,000,000

STOCK COMPENSATION - Stock Opti

STOCK COMPENSATION - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning Balance | shares	518,725
Exercised (in shares) | shares	(39,100)
Forfeited (in shares) | shares	(750)
Ending Balance | shares	478,875
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	37.05
Forfeited, weighted average exercise price | $ / shares	37.65
Ending Balance | $ / shares	$ 37.18

STOCK COMPENSATION - Options Ou

STOCK COMPENSATION - Options Outstanding and Exercisable (Details)	9 Months Ended
	Sep. 30, 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	478,875
Weighted average remaining contractual term (in years)	4 years 3 months 3 days
Exercise price range, outstanding options, weighted average exercise price	$ 37.18
Exercise price range, number of exercisable options | shares	478,875
Exercise price range, exercisable options, weighted average remaining contractual term (in years)	4 years 3 months 3 days
Exercise price range, exercisable options, weighted average exercise price	$ 37.18
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, exercisable options, weighted average exercise price	13.89
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, exercisable options, weighted average exercise price	$ 42.16

STOCK COMPENSATION - Restricted

STOCK COMPENSATION - Restricted Stock Activity (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 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	349,754
Vested (in shares) | shares	(532,237)
Forfeited (in shares) | shares	(69,737)
Ending Balance | shares	1,499,916
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	85.75
Vested, weighted average grant date fair value | $ / shares	41.63
Forfeited, weighted average grant date fair value | $ / shares	52.87
Ending Balance | $ / shares	$ 52.16

STOCK COMPENSATION - Performanc

STOCK COMPENSATION - Performance Stock Units (Details) - Performance Stock Units (PSUs)	9 Months Ended
	Sep. 30, 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	(48,396)
Ending Balance | shares	574,477
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	94.14
Forfeited, weighted average grant date fair value | $ / shares	60.92
Ending Balance | $ / shares	$ 65.38

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Oct. 24, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Net earnings attributable to Owens Corning	$ 161	$ 96	$ 374	$ 293
Weighted-average number of shares outstanding used for basic earnings per share	110,000,000	111,000,000	110,800,000	111,600,000
Non-vested restricted and performance shares	700,000	1,400,000	700,000	1,400,000
Options to purchase common stock	200,000	300,000	200,000	200,000
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	110,900,000	112,700,000	111,700,000	113,200,000
Basic (in dollars per share)	$ 1.46	$ 0.86	$ 3.38	$ 2.63
Diluted (in dollars per share)	$ 1.45	$ 0.85	$ 3.35	$ 2.59
Equity Class Of Treasury Stock [Line Items]
Stock repurchased during period, shares			3,000,000
Payments for repurchase of equity			$ 203
Stock repurchase program, remaining number of shares authorized to be repurchased	4,600,000		4,600,000
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		0	300,000	0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	Dec. 22, 2017	Dec. 21, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018
Income Tax Contingency [Line Items]
Income tax expense			$ 67	$ 32	$ 127	$ 142
Effective tax rate			29.00%	25.00%	25.00%	33.00%
Federal statutory tax rate	21.00%	35.00%	21.00%	35.00%
Increase in estimate of provision			$ 2
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 _3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance				$ (514)
Amounts classified into AOCI, net of tax		$ 1	$ 1	3	$ 9
Total AOCI ending balance		(610)	(605)	(610)	(605)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(272)	(219)	(183)	(284)
Net investment hedge amounts classified into AOCI, net of tax		1	(6)	2	(15)
(Loss)/gain on foreign currency translation		(13)	33	(103)	107
Other Comprehensive Income (Loss), Net of Tax		(12)	27	(101)	92
Total AOCI ending balance		(284)	(192)	(284)	(192)
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		(329)	(415)	(331)	(429)
Other Comprehensive Income (Loss), Net of Tax		1	2	3	16
Amounts reclassified from AOCI to net earnings, net of tax	[1]	1	4	3	22
Amounts classified into AOCI, net of tax		0	(2)	0	(6)
Total AOCI ending balance		(328)	(413)	(328)	(413)
Hedging Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Total AOCI beginning balance		1	0	0	3
Other Comprehensive Income (Loss), Net of Tax		1	0	2	(3)
Amounts reclassified from AOCI to net earnings, net of tax	[2]	0	0	0	(1)
Amounts classified into AOCI, net of tax		1	0	2	(2)
Total AOCI ending balance		$ 2	$ 0	$ 2	$ 0
[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.