Owens Corning (OC) 10-K 16 Feb 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 11, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-33100
Entity Registrant Name	Owens Corning
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	43-2109021
Entity Address, Address Line One	One Owens Corning Parkway,
Entity Address, City or Town	Toledo,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43659
City Area Code	419
Local Phone Number	248-8000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	OC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 10,116,157,510
Entity Common Stock, Shares Outstanding		99,101,012
Documents Incorporated by Reference	Portions of Owens Corning’s proxy statement to be delivered to stockholders in connection with the Annual Meeting of Stockholders to be held on or about April 14, 2022 (the “2022 Proxy Statement”) are incorporated by reference into Part III hereof
Entity Central Index Key	0001370946
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Toledo, Ohio

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
NET SALES	$ 8,498	$ 7,055	$ 7,160
COST OF SALES	6,281	5,445	5,551
Gross margin	2,217	1,610	1,609
OPERATING EXPENSES
Marketing and administrative expenses	757	664	698
Science and technology expenses	91	82	87
Goodwill impairment charge	0	944	0
Other (income) expenses, net	(69)	58	37
Total operating expenses	779	1,748	822
OPERATING INCOME (LOSS)	1,438	(138)	787
Non-operating (income) expense	(10)	(14)	34
EARNINGS (LOSS) BEFORE INTEREST AND TAXES	1,448	(124)	753
Interest expense, net	126	132	131
Loss on extinguishment of debt	9	0	32
EARNINGS (LOSS) BEFORE TAXES	1,313	(256)	590
Income tax expense	319	129	186
Equity in net earnings of affiliates	1	0	1
NET EARNINGS (LOSS)	995	(385)	405
Net loss attributable to noncontrolling interests	0	(2)	0
NET EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	$ 995	$ (383)	$ 405
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (dollars per share)	$ 9.61	$ (3.53)	$ 3.71
Diluted (dollars per share)	$ 9.54	$ (3.53)	$ 3.68
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	103.5	108.6	109.2
Diluted (in shares)	104.3	108.6	110.1

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
NET EARNINGS (LOSS)	$ 995	$ (385)	$ 405
Currency translation adjustment (net of tax of $(3), $(4) and $(4), for the periods ended December 31, 2021, 2020 and 2019, respectively)	(59)	62	24
Pension and other postretirement adjustment (net of tax of $(18), $14, and $(10), for the periods ended December 31, 2021, 2020 and 2019, respectively)	54	(46)	24
Hedging adjustment (net of tax of $(4), $(3) and $1, for the periods ended December 31, 2021, 2020 and 2019, respectively)	12	6	(2)
Other comprehensive income, net of tax	7	22	46
TOTAL COMPREHENSIVE EARNINGS (LOSS)	1,002	(363)	451
Comprehensive loss attributable to noncontrolling interests	0	(2)	0
COMPREHENSIVE EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	$ 1,002	$ (361)	$ 451

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Currency translation tax	$ (3)	$ (4)	$ (4)
Pension and other postretirement adjustment	(18)	14	(10)
Hedging tax	$ (4)	$ (3)	$ 1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents		$ 959	$ 717
Receivables, Net, Current		939	919
Inventories		1,078	855
Other current assets		121	115
Total current assets		3,097	2,606
Property, plant and equipment, net		3,873	3,809
Operating lease right-of-use assets		158	154
Goodwill		990	989
Intangible assets, net		1,617	1,667
Deferred income taxes		31	28
Other non-current assets		249	228
TOTAL ASSETS		10,015	9,481
CURRENT LIABILITIES
Accounts payable		1,095	875
Current operating lease liabilities		49	55
Other current liabilities		553	510
Total current liabilities		1,697	1,440
Long-term debt, net of current portion		2,960	3,126
Pension plan liability		77	159
Other employee benefits liability		157	171
Non-current operating lease liabilities		109	99
Deferred income taxes		376	332
Other liabilities		304	213
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		4,092	4,059
Accumulated earnings		2,706	1,829
Accumulated other comprehensive deficit		(581)	(588)
Cost of common stock in treasury	[3]	(1,922)	(1,400)
Total Owens Corning stockholders’ equity		4,296	3,901
Noncontrolling interests		39	40
Total equity		4,335	3,941
TOTAL LIABILITIES AND EQUITY		$ 10,015	$ 9,481
[1]	shares authorized; none issued or outstanding at December 31, 2021 and December 31, 2020
[2]	shares authorized; 135.5 issued and 100.4 outstanding at December 31, 2021; 135.5 issued and 105.6 outstanding at December 31, 2020
[3]	35.1 shares at December 31, 2021 and 29.9 shares at December 31, 2020

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Receivables, less allowance	$ 9	$ 10
Preferred Stock, par value (dollars per share)	$ 0.01	$ 0.01
Common stock, par value (dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (shares)	10,000,000	10,000,000
Preferred stock issued (shares)	0	0
Preferred stock outstanding (shares)	0	0
Common stock authorized (shares)	400,000,000	400,000,000
Common stock issued (shares)	135,500,000	135,500,000
Common stock outstanding (shares)	100,400,000	105,600,000
Treasury stock (shares)	35,100,000	29,900,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions		Total		Common Stock Outstanding	Treasury Stock	APIC	[1]	Accumulated Earnings		AOCI		NCI
Beginning balance (in shares) at Dec. 31, 2018				109.5	26
Beginning balance at Dec. 31, 2018		$ 4,324		$ 1	$ (1,103)	$ 4,028		$ 2,013		$ (656)	[2]	$ 41	[3]
Increase Decrease In Stockholders Equity [Roll Forward]
Net earnings attributable to Owens Corning		405						405				0	[3]
Net loss attributable to noncontrolling interests		0
Currency translation adjustment		23								24	[2]	(1)	[3]
Pension and other postretirement adjustment (net of tax)		24								24	[2]
Deferred loss on hedging transactions (net of tax)		(2)								(2)	[2]
Issuance of common stock under share-based payment plans (in shares)				0.8	(0.8)
Issuance of common stock under share-based payment plans		18			$ 34	(16)
Purchase of treasury stock (in shares)				1.3	1.3
Purchases of treasury stock		(61)			$ (61)
Stock-based compensation expense		39				39
Dividends declared (d)		(99)						(99)	[4]
Dividends declared (d)	[3],[4]											0
Ending balance (in shares) at Dec. 31, 2019				109	26.5
Ending balance at Dec. 31, 2019		4,671	[4]	$ 1	$ (1,130)	4,051		2,319		(610)	[2]	40	[3]
Increase Decrease In Stockholders Equity [Roll Forward]
Net earnings attributable to Owens Corning		(383)						(383)				0	[3]
Net loss attributable to noncontrolling interests		(2)										(2)	[3]
Currency translation adjustment		65								62	[2]	3	[3]
Pension and other postretirement adjustment (net of tax)		(46)								(46)	[2]
Deferred loss on hedging transactions (net of tax)		6								6	[2]
Issuance of common stock under share-based payment plans (in shares)				1.1	(1.1)
Issuance of common stock under share-based payment plans		15			$ 48	(33)
Purchase of treasury stock (in shares)				4.5	4.5
Purchases of treasury stock		(318)			$ (318)
Stock-based compensation expense		41				41
Dividends declared (d)	[4]	(108)						(107)
Dividends declared (d)	[3],[4]											(1)
Ending balance (in shares) at Dec. 31, 2020				105.6	29.9
Ending balance at Dec. 31, 2020		3,941		$ 1	$ (1,400)	4,059		1,829		(588)	[2]	40	[3]
Increase Decrease In Stockholders Equity [Roll Forward]
Net earnings attributable to Owens Corning		995						995				0	[3]
Net loss attributable to noncontrolling interests		0
Currency translation adjustment		(60)								(59)	[2]	(1)	[3]
Pension and other postretirement adjustment (net of tax)		54								54	[2]
Deferred loss on hedging transactions (net of tax)		12								12
Issuance of common stock under share-based payment plans (in shares)				1	(1)
Issuance of common stock under share-based payment plans		31			$ 48	(17)
Purchase of treasury stock (in shares)				6.2	6.2
Purchases of treasury stock		(570)			$ (570)
Stock-based compensation expense		50				50
Dividends declared (d)	[4]	(118)						(118)
Dividends declared (d)	[3],[4]											0
Ending balance (in shares) at Dec. 31, 2021				100.4	35.1
Ending balance at Dec. 31, 2021		$ 4,335		$ 1	$ (1,922)	$ 4,092		$ 2,706		$ (581)	[2]	$ 39	[3]
[1]	Additional Paid in Capital (APIC)
[2]	Accumulated Other Comprehensive Earnings (Deficit) (“AOCI”)
[3]	Noncontrolling Interest (“NCI”)
[4]	Dividend declarations of $1.13 per share as of December 31, 2021, $0.98 per share as of December 31, 2020, and $0.90 per share as of December 31, 2019.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
NET EARNINGS (LOSS)	$ 995	$ (385)	$ 405
Adjustments to reconcile net earnings (loss) to cash provided by operating activities:
Depreciation and amortization	502	493	457
Deferred income taxes	44	86	118
Provision for pension and other employee benefits liabilities	2	(3)	45
Stock-based compensation expense	50	41	39
Goodwill impairment charge	0	944	0
Intangible assets impairment charge	0	43	0
Loss on extinguishment of debt	9	0	32
Gains on sale of certain precious metals	(53)	(26)	0
Other adjustments to reconcile net earnings (loss) to cash provided by operating activities	9	(14)	(28)
Changes in receivables, net	(28)	(109)	19
Changes in inventories	(227)	189	35
Changes in accounts payable and accrued liabilities	302	25	(11)
Changes in other operating assets and liabilities	(65)	(11)	(10)
Pension fund contributions	(21)	(122)	(46)
Payments for other employee benefits liabilities	(13)	(13)	(15)
Other	(3)	(3)	(3)
Net cash flow provided by operating activities	1,503	1,135	1,037
NET CASH FLOW USED FOR INVESTING ACTIVITIES
Cash paid for property, plant and equipment	416	307	447
Derivative settlements	(4)
Derivative settlements		50	31
Proceeds from the sale of assets or affiliates	89	52	22
Investment in subsidiaries and affiliates, net of cash acquired	(42)	0	0
Other	4	0	0
Net cash flow used for investing activities	(377)	(205)	(394)
NET CASH FLOW USED FOR FINANCING ACTIVITIES
Proceeds from senior revolving credit and receivables securitization facilities	0	876	2,172
Payments on senior revolving credit and receivables securitization facilities	0	(876)	(2,248)
Payments on term loan borrowing	0	(200)	(300)
Proceeds from long-term debt	0	297	445
Payments on long-term debt	(193)	0	(484)
Dividends paid	(108)	(104)	(95)
Net increase (decrease) in short-term debt	4	(19)	4
Purchases of treasury stock	(570)	(318)	(61)
Other	(14)	(14)	(6)
Net cash flow used for financing activities	(881)	(358)	(573)
Effect of exchange rate changes on cash	(3)	(27)	24
Net increase in cash, cash equivalents and restricted cash	242	545	94
Cash, cash equivalents and restricted cash at beginning of period	724	179	85
Cash, cash equivalents and restricted cash at end of period	966	724	179
Cash paid during the year for income taxes	244	78	58
Cash paid during the year for interest	$ 133	$ 135	$ 131

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividend (dollars per share)	$ 1.13	$ 0.98	$ 0.90

BUSINESS AND SUMMARY OF SIGNIFI

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Description of Business Owens Corning, a Delaware corporation, is a global building and construction materials leader helping customers win in the market by providing innovative and sustainable solutions. The Company operates within three segments: Composites, Insulation and Roofing. Through these lines of business, Owens Corning manufactures and sells products worldwide. The Company maintains leading market positions in many of its major product categories. General On February 3, 2022, the Board of Directors declared a quarterly dividend of $0.35 per common share payable on April 7, 2022 to shareholders of record as of March 4, 2022. Basis of Presentation Unless the context requires otherwise, the terms “Owens Corning,” “Company,” “we” and “our” in these notes refer to Owens Corning and its subsidiaries. The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States. Principles of Consolidation The Consolidated Financial Statements of the Company include the accounts of majority-owned subsidiaries. Intercompany accounts and transactions are eliminated. Reclassifications Certain reclassifications have been made to the 2020 and 2019 Consolidated Financial Statements and Notes to the Consolidated Financial Statements to conform to the classifications used in 2021. Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Revenue Recognition 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. Sales, value-added and other similar taxes that we collect are excluded from revenue. 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). Revenue Recognition (continued) 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 Total current 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 10. 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 $5 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 December 31, 2020, our contract liability balances (for extended warranties, down payments and deposits, collectively) totaled $66 million, of which $17 million was recognized as revenue throughout 2021. As of December 31, 2021, our contract liability balances totaled $76 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 Accounting Standards Codification (ASC) 606. Cost of Sales Cost of sales includes material, labor, energy and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company’s products. Provisions for warranties are provided in the same period that the related sales are recorded and are based on historical experience, current conditions and contractual obligations, as applicable. Distribution costs include inbound freight costs; purchasing and receiving costs; inspection costs; warehousing costs; shipping and handling costs, which include costs incurred relating to preparing, packaging, and shipping products to customers; and other costs of the Company’s distribution network. We account for shipping and handling activities that occur after control of the related good transfers as fulfillment activities instead of performance obligations. All shipping and handling costs billed to the customer are included as net sales in the Consolidated Statements of Earnings (Loss). Marketing and Advertising Expenses Marketing and advertising expenses are included in Marketing and administrative expenses. These costs include advertising and marketing communications, which are expensed the first time the advertisement takes place. Marketing and advertising expenses for the years ended December 31, 2021, 2020 and 2019 were $110 million, $98 million and $117 million, respectively. Science and Technology Expenses The Company incurs certain expenses related to science and technology. These expenses include salaries, building and equipment costs, utilities, administrative expenses, materials and supplies associated with the improvement and development of the Company’s products and manufacturing processes. These costs are expensed as incurred. Earnings per Share Basic earnings (loss) per share are computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share reflect the dilutive effect of common equivalent shares and increased shares that would result from the conversion of equity securities. The effects of anti-dilution are not presented. Cash, Cash Equivalents and Restricted Cash The Company defines cash and cash equivalents as cash and time deposits with maturities of three months or less when purchased. On the Consolidated Statements of Cash Flows, the total of Cash, cash equivalents and restricted cash includes restricted cash of $7 million as of December 31, 2021, 2020 and 2019. Restricted cash primarily represents amounts received from a counterparty related to its performance assurance on an executory contract, and is included in Other current assets on the Consolidated Balance Sheets. These amounts are contractually required to be set aside, and the counterparty can exchange the cash for another form of performance assurance at its discretion. Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Consistent with the requirements of ASU 2016-13, "Financial Instruments - Credit Losses (Topic 236)," the allowance for credit losses is based on the Company’s assessment of the expected losses of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered. Inventory Valuation Inventory costs include material, labor, and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company’s products. Inventories are stated at lower of cost or net realizable value and expense estimates are made for excess and obsolete inventories. Cost is determined by the first-in, first-out (“FIFO”) method. Investments in Affiliates The Company accounts for investments in affiliates of 20% to 50% ownership when the Company does not have a controlling financial interest using the equity method under which the Company’s share of earnings and losses of the affiliate is reflected in earnings, and dividends are credited against the investment in affiliate when declared. I nvestments in affiliates are recorded in Other non-current assets on the Consolidated Balance Sheets, and as of December 31, 2021 and 2020, the total value of investments was $45 million and $51 million, respectively. Goodwill and Other Intangible Assets Goodwill assets are not amortized but are tested for impairment on at least an annual basis. The Company has the option to use a qualitative approach to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value as a basis for determining whether it is necessary to perform a quantitative test. In the current year, as part of the annual assessment, the Company elected to use the qualitative approach for all of its reporting units. Events and circumstances we consider in performing the qualitative assessment include macro-economic conditions, market and industry conditions, internal cost factors, and the operational stability and the overall financial performance of the reporting units. When it is determined necessary for the Company to perform the quantitative testing process for goodwill, the Company estimates fair values using a discounted cash flow approach from the perspective of a market participant. Significant assumptions used in the discounted cash flow approach are revenue growth rates and earnings before interest and taxes ("EBIT") margins used in estimating discrete period cash flow forecasts of the reporting unit, the discount rate, and the long-term revenue growth rate and EBIT margins used in estimating the terminal business value. The cash flow forecasts of the reporting units are based upon management’s long-term view of our markets and are the forecasts that are used by senior management and the Board of Directors to evaluate operating performance. The discount rate utilized is management’s estimate of what the market’s weighted average cost of capital is for a company with a similar debt rating and stock volatility, as measured by beta. The terminal business value is determined by applying the long-term growth rate to the latest year for which a forecast exists. As part of our goodwill quantitative testing process, we would evaluate whether there are reasonably likely changes to management’s estimates that would have a material impact on the results of the goodwill impairment testing. Goodwill and Other Intangible Assets (continued) Other indefinite-lived intangible assets are not amortized but are tested for impairment on at least an annual basis or when determined to have a finite useful life. Substantially all of the indefinite-lived intangible assets are in trademarks and trade names. The Company uses the royalty relief approach to determine whether it is more likely than not that the fair value of these assets is less than its carrying amount. This review is performed annually, or when circumstances arise which indicate there may be impairment. When applying the royalty relief approach, the Company performs a discounted cash flow analysis based on the value derived from owning these trademarks and trade names and being relieved from paying royalty to third parties. Significant assumptions used include the discrete period revenue growth rates, royalty rates, discount rates, and terminal value. The inputs for the goodwill and indefinite-lived intangible tests are considered Level 3 inputs under the fair value hierarchy as they are the Company’s own data, and are unobservable in the marketplace. Indefinite-lived intangible assets purchased through acquisition are generally tested qualitatively for impairment in the first year following the acquisition before transitioning to the standard methodology described herein in subsequent years. Please refer to Note 5 for additional disclosures related to Goodwill and Other Intangible Assets. Emissions Rights The Company is allotted carbon emission credit allowances ("emissions rights") from several of the governments under which it operates. These emissions rights are recorded at market value as of the date of issuance and are classified as Intangible assets on the Consolidated Balance Sheets. If the Company emits more than the allotted amounts, additional emissions rights must be purchased. Properties and Depreciation Property, plant and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method. When assets are disposed or otherwise retired, Property, plant and equipment accounts are relieved of the cost and related accumulated depreciation and any gain or loss is included in the Consolidated Statements of Earnings (Loss). Precious metals used in our production tooling are included in property, plant and equipment and are depleted as they are consumed during the production process. Depletion typically represents an annual expense of less than 3% of the outstanding value and is recorded in Cost of sales on the Consolidated Statements of Earnings (Loss). The range of useful lives for the major components of the Company’s plant and equipment is as follows: Buildings and leasehold improvements 15 – 40 years Machinery and equipment Furnaces 4 – 15 years Information systems 5 – 10 years Equipment 5 – 20 years Expenditures for normal maintenance and repairs are expensed as incurred. Asset Impairments The Company evaluates tangible and intangible long-lived assets for impairment when triggering events have occurred. This requires significant assumptions including projected cash flows, projected income tax rate and terminal business value. These inputs are considered Level 3 inputs under the fair value hierarchy as they are the Company’s own data, and are unobservable in the marketplace. Changes in management intentions, market conditions or operating performance could indicate that impairment charges might be necessary that could be material to the Company’s Consolidated Financial Statements in any given period. Please refer to Note 5 for additional detail on impairment charges recorded in 2020. Income Taxes The Company recognizes current tax liabilities and assets for the estimated taxes payable or refundable on the tax returns for the current year. Deferred tax balances reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis. Amounts are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. In addition, realization of certain deferred tax assets is dependent upon our ability to generate future taxable income. The Company records a valuation allowance to reduce its deferred tax assets to the amount that it believes is more likely than not to be realized. In addition, the Company estimates tax reserves to cover potential taxing authority claims for income taxes and interest attributable to audits of open tax years. Please refer to Note 19 for additional disclosures related to Income Taxes. Taxes Collected from Customers and Remitted to Government Authorities and Taxes Paid to Vendors Taxes are assessed by various governmental authorities at different rates on many different types of transactions. The Company charges sales tax or value-added tax (VAT) on sales to customers where applicable, as well as captures and claims back all available VAT that has been paid on purchases. VAT is recorded in separate payable or receivable accounts and does not affect revenue or cost of sales line items in the income statement. VAT receivable is recorded as a percentage of qualifying purchases at the time the vendor invoice is processed. VAT payable is recorded as a percentage of qualifying sales at the time an Owens Corning sale to a customer subject to VAT occurs. Amounts are paid to the taxing authority according to the method and collection prescribed by local regulations. Where applicable, VAT payable is netted against VAT receivable. The Company also pays sales tax to vendors who include a tax, required by government regulations, to the purchase price charged to the Company. Pension and Other Postretirement Benefits Accounting for pensions and other postretirement benefits involves estimating the cost of benefits to be provided well into the future and attributing that cost over the time period each employee works. To accomplish this, extensive use is made of assumptions about investment returns, discount rates, inflation, mortality, turnover and medical costs. Please refer to Notes 13 and 14 for additional disclosures related to Pension Plans and Other Postretirement Benefits, respectively. Derivative Financial Instruments The Company recognizes all derivative instruments as either assets or liabilities at fair value on the balance sheet. Please refer to Note 4 for further disclosure on derivatives. 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 (Loss) 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 Operating activities in the Consolidated Statements of Cash Flows. 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 portions of the net investment in foreign subsidiaries against fluctuations in foreign exchange rates. 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 (Loss). Cash settlements for derivatives qualifying as net investment hedges are included in Investing activities in the Consolidated Statements of Cash Flows. Derivative Financial Instruments (continued) The Company uses forward currency exchange contracts to manage existing exposures to foreign exchange risk related to assets and liabilities recorded on the Consolidated Balance Sheets. Gains and losses resulting from the changes in fair value of these instruments are recorded in Other (income) expenses, net on the Consolidated Statements of Earnings (Loss), and are substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures (which are also recorded in Other (income) expenses, net). Cash settlements for non-designated derivatives are included in the Consolidated Statements of Cash Flows in the category that is consistent with the nature of the derivative instrument, which is generally the same category as the underlying item being hedged. Fair Value Measurements The carrying value of cash and cash equivalents, accounts receivable and short-term debt approximate fair value because of the short-term maturity of the instruments. Please refer to Notes 4, 12 and 13 for fair value disclosures of derivative financial instruments, long-term debt and pension plans. Foreign Currency The functional currency of the Company’s subsidiaries is generally the applicable local currency. Assets and liabilities of foreign subsidiaries are translated into United States Dollars at the period-end rate of exchange, and their Statements of Earnings (Loss) and Statements of Cash Flows are converted on an ongoing basis at the monthly average rate. The resulting translation adjustment is included in AOCI in the Consolidated Balance Sheets and Consolidated Statements of Stockholders’ Equity. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are recorded in Other (income) expenses, net in the Consolidated Statements of Earnings (Loss) as incurred. As discussed in the Derivative Financial Instruments section above, the Company uses non-designated foreign currency derivative financial instruments to mitigate this risk. The Company recorded foreign currency transactional gains (net of associated derivative activity) of $1 million, $6 million and $12 million during the years ended December 31, 2021, 2020, and 2019, respectively. Please refer to Note 4 for additional disclosures related to non-designated derivatives. Related Party Transactions In the first quarter of 2021, a related party relationship was established as a result of a member of the Company’s Board of Directors being named an executive officer of one of the Company’s preexisting suppliers. The related party transactions with this supplier consist of the purchase of raw materials. Purchases from the related party supplier were $87 million for the year ended December 31, 2021. As of December 31, 2021, amounts due to the related party supplier were $1 million. 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 2019-12 "Income Taxes (Topic 740)" This standard simplifies accounting for income taxes including such topics as intraperiod tax allocations, franchise taxes and separate company financial statements. January 1, 2021 We adopted this standard in the first quarter of 2021. The adoption of this standard did not have a material impact on our Consolidated Financial Statements. Please refer to the Income Taxes paragraph above in Note 1 of the Consolidated Financial Statements for additional detail on our accounting policy. ASU 2017-04 "Intangibles - Goodwill and Other (Topic 350)" This standard simplifies the test for goodwill impairment by eliminating Step 2 of the impairment test. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Entities will adopt the standard using a prospective approach. January 1, 2020 We adopted this standard using the prospective approach for our interim impairment test conducted in the first quarter of 2020. The goodwill impairment charge of $944 million recorded for the year ended December 31, 2020, was calculated in accordance with this standard. Please refer to Note 5 of the Consolidated Financial Statements for additional detail on this adoption. Recently issued standards: ASU 2021-10 "Government Assistance (Topic 832)" This standard modifies the annual disclosure requirements for business entities that receive government assistance and use a grant or contribution accounting model by analogy to other account guidance. January 1, 2022 We are currently assessing the impact adopting this standard will have on our Consolidated Financial Statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
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 Company manufactures, fabricates and sells glass reinforcements in the form of fiber. Glass reinforcement materials are also used by the Composites segment to manufacture and sell high value applications in the form of fabrics, non-wovens and other specialized products. Insulation – Within our Insulation segment, the Company manufactures and sells thermal and acoustical batts, loosefill insulation, foam sheathing and accessories. It also manufactures and sells glass fiber pipe insulation, energy efficient 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 tables show a disaggregation of 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. Twelve Months Ended December 31, 2021 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 312 $ 1,194 $ 2,958 $ (230) $ 4,234 U.S. commercial and industrial 637 705 120 — 1,462 Total United States 949 1,899 3,078 (230) 5,696 Europe 653 718 19 (6) 1,384 Asia-Pacific 552 187 7 — 746 Rest of world 187 380 105 — 672 NET SALES $ 2,341 $ 3,184 $ 3,209 $ (236) $ 8,498 Twelve Months Ended December 31, 2020 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 272 $ 949 $ 2,450 $ (204) $ 3,467 U.S. commercial and industrial 538 603 133 — 1,274 Total United States 810 1,552 2,583 (204) 4,741 Europe 524 609 14 (1) 1,146 Asia-Pacific 495 158 11 — 664 Rest of world 131 288 87 (2) 504 NET SALES $ 1,960 $ 2,607 $ 2,695 $ (207) $ 7,055 Twelve Months Ended December 31, 2019 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 269 $ 927 $ 2,375 $ (195) $ 3,376 U.S. commercial and industrial 614 643 143 — 1,400 Total United States 883 1,570 2,518 (195) 4,776 Europe 572 625 13 (1) 1,209 Asia-Pacific 475 176 13 — 664 Rest of world 129 297 90 (5) 511 NET SALES $ 2,059 $ 2,668 $ 2,634 $ (201) $ 7,160 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. Sales to major customer - One customer, which is a customer of both the Roofing and Insulation segments, accounted for $895 million (11%) of consolidated sales in 2021. No individual customers accounted for 10% or more of consolidated sales in 2020 or 2019. 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 across our three reportable segments 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, commercial construction activity and overall economic conditions in the U.S. 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, commercial construction activity and overall economic conditions in each respective geographical region. EARNINGS BEFORE INTEREST AND TAXES Earnings (loss) before interest and taxes (EBIT) by segment consists 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): Twelve Months Ended December 31, 2021 2020 2019 Reportable Segments Composites $ 376 $ 165 $ 247 Insulation 446 250 230 Roofing 753 591 455 Total reportable segments 1,575 1,006 932 Restructuring costs (34) (41) (28) Gain on sale of land in India 15 — — Gains on sale of certain precious metals 53 26 — Goodwill impairment charge — (944) — Intangible assets impairment charge — (43) — Recognition of acquisition inventory fair value step-up (1) — — Pension settlement losses — — (43) Environmental liability charges — — (4) General corporate expense and other (160) (128) (104) Total Corporate, other and eliminations (127) (1,130) (179) EBIT $ 1,448 $ (124) $ 753 TOTAL ASSETS AND PROPERTY, PLANT AND EQUIPMENT The following table summarizes total assets by segment and property, plant and equipment by geographic region (in millions): December 31, TOTAL ASSETS 2021 2020 Reportable Segments Composites $ 2,599 $ 2,426 Insulation 3,937 3,937 Roofing 1,884 1,814 Total reportable segments 8,420 8,177 Cash and cash equivalents 959 717 Noncurrent deferred income taxes 31 28 Investments in affiliates 45 51 Assets held for sale 1 5 Corporate property, plant and equipment, other assets and eliminations 559 503 CONSOLIDATED TOTAL ASSETS $ 10,015 $ 9,481 December 31, PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION 2021 2020 United States $ 2,262 $ 2,169 Europe 742 777 Asia-Pacific 608 594 Rest of world 261 269 TOTAL PROPERTY, PLANT AND EQUIPMENT $ 3,873 $ 3,809 PROVISION FOR DEPRECIATION AND AMORTIZATION The following table summarizes the provision for depreciation and amortization by segment (in millions): Twelve Months Ended December 31, 2021 2020 2019 Reportable Segments Composites $ 162 $ 159 $ 154 Insulation 208 201 194 Roofing 59 59 54 Total reportable segments 429 419 402 General corporate depreciation and amortization (a) 73 74 55 CONSOLIDATED PROVISION FOR DEPRECIATION AND AMORTIZATION $ 502 $ 493 $ 457 (a) In 2021, 2020 and 2019, General corporate depreciation and amortization expense included $13 million, $20 million and $9 million, respectively, of accelerated depreciation related to restructuring actions further explained in Note 11 to the Consolidated Financial Statements. ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT The following table summarizes additions to property, plant and equipment on an accrual basis by segment (in millions): Twelve Months Ended December 31, 2021 2020 2019 Reportable Segments Composites $ 146 $ 105 $ 123 Insulation 198 132 210 Roofing 57 46 56 Total reportable segments 401 283 389 General corporate additions 67 37 62 CONSOLIDATED ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT $ 468 $ 320 $ 451

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): December 31, 2021 2020 Finished goods $ 672 $ 532 Materials and supplies 406 323 Total inventories $ 1,078 $ 855

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and 2020, 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. Derivative Fair Values Our derivatives consist of natural gas forward swaps, cross-currency swaps, foreign exchange forward contracts and U.S. treasury rate lock agreements, 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 December 31, 2021 December 31, 2020 Derivative assets designated as hedging instruments: Net investment hedges: Cross currency swaps Other current assets $ 5 $ 5 Cross currency swaps Other non-current assets $ 1 $ — Cash flow hedges: Natural gas forward swaps Other current assets $ 16 $ 2 Treasury interest rate lock Other current assets $ 11 $ — Treasury interest rate lock Other non-current assets $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges: Cross-currency swaps Other liabilities $ 1 $ 11 Cash flow hedges: Natural gas forward swaps Other current liabilities $ 5 $ — Foreign exchange forward contracts Other current liabilities $ 2 $ — Derivative assets not designated as hedging instruments: Foreign exchange forward contracts Other current assets $ 1 $ 2 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Other current liabilities $ 6 $ 45 Consolidated Statements of Earnings (Loss) Activity The following table presents the impact and respective location of derivative activities on the Consolidated Statements of Earnings (Loss) (in millions): Twelve Months Ended Location 2021 2020 2019 Derivative activity designated as hedging instruments: Natural gas cash flow hedges: Amount of (gain) loss reclassified from AOCI (as defined below) into earnings (a) Cost of sales $ (15) $ 5 $ 4 Cross-currency swap net investment hedges: Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing Interest expense, net $ (5) $ (8) $ (13) Derivative activity not designated as hedging instruments: Foreign currency: Amount of (gain) loss recognized in earnings (b) Other (income) expenses, net $ (41) $ 41 $ (35) (a) Accumulated Other Comprehensive Earnings (Deficit) ("AOCI") (b) (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 (income) expenses, net. Please refer to the "Other Derivatives" section below for additional detail. Consolidated Statements of Comprehensive Earnings (Loss) Activity The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (Loss) (in millions): Amount of (Gain) Loss Recognized in Comprehensive Earnings (Loss) Twelve Months Ended December 31, Hedging Type Derivative Financial Instrument 2021 2020 Net investment hedge Cross-currency swaps $ (12) $ (15) Cash flow hedge Natural gas forward swaps $ (10) $ (5) Cash flow hedge Treasury interest rate lock $ (7) $ (4) Cash flow hedge Foreign exchange forward contracts $ 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. As of December 31, 2021, the notional amounts of these natural gas forward swaps was 6 million MMBTu (or MMBTu equivalent based on U.S. and European indices), compared with the notional amounts of 2 million MMBTu at December 31, 2020. In March 2020, the Company entered into a $175 million forward U.S. Treasury rate lock agreement to manage the U.S. Treasury portion of its interest rate risk associated with the anticipated issuance of certain 10-year fixed rate senior notes before the end of 2022. The Company intends to cash settle this agreement upon a future issuance of certain senior notes thereby effectively locking in the U.S. Treasury fixed interest rate in effect at the time the agreement was initiated. The locked fixed rate of this agreement is 0.994%. The Company has designated this outstanding forward U.S. Treasury rate lock agreement, which expires on December 15, 2022, as a cash flow hedge. In June 2021, the Company entered into five currency forward contracts with unrelated counterparties with notional amounts totaling $23 million to mitigate against unwanted or anticipated moves in the European Euro exchange rate against the U.S. Dollar, pertaining to forecasted Euro denominated invoices for capital expenditures. The Company has designated each of the individual contracts as cash flow hedges, with the last hedge maturing no later than December 2023. 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 portions of the net investment in foreign subsidiaries against fluctuations in foreign exchange rates. As of December 31, 2021, the notional amount of these derivative financial instruments was $218 million related to the U.S Dollar and European Euro. In the second quarter of 2020, the Company unwound certain net investment hedge contracts, resulting in cash proceeds of $30 million. 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 December 31, 2021, the Company had notional amounts of $772 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, Hong Kong Dollar, Indian Rupee, and South Korean Won. In addition, the Company had notional amounts of $29 million for non-designated derivative financial instruments related to foreign currency exposures in European Euro primarily related to the Russian Ruble.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The Company tests goodwill and indefinite-lived intangible assets for impairment as of October 1st 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. Goodwill The changes in the net carrying amount of goodwill by segment are as follows (in millions): Composites Insulation Roofing Total Gross carrying amount at December 31, 2020 $ 57 $ 1,519 $ 400 $ 1,976 Acquisitions (see Note 7) 16 — — 16 Additions 3 — — 3 Foreign currency translation (1) (38) (3) (42) Gross carrying amount at December 31, 2021 75 1,481 397 1,953 Accumulated impairment losses at December 31, 2020 — (987) — (987) Foreign currency translation — 24 — 24 Accumulated impairment losses at December 31, 2021 — (963) — (963) Balance, net of impairment at December 31, 2021 $ 75 $ 518 $ 397 $ 990 Composites Insulation Roofing Total Gross carrying amount at December 31, 2019 $ 57 $ 1,479 $ 396 $ 1,932 Divestiture — (4) — (4) Foreign currency translation — 44 4 48 Gross carrying amount at December 31, 2020 57 1,519 400 1,976 Accumulated impairment losses at December 31, 2019 — — — — Impairment charge — (944) — (944) Foreign currency translation — (43) — (43) Accumulated impairment losses at December 31, 2020 — (987) — (987) Balance, net of impairment at December 31, 2020 $ 57 $ 532 $ 400 $ 989 The annual tests performed in the fourth quarter of 2021 and 2020 resulted in no impairment of goodwill. In the first quarter of 2020, the Company performed its ongoing assessment to consider whether events or circumstances had occurred that could more likely than not reduce the fair value of a reporting unit below its carrying value. The Company’s significant share price reduction during the onset of the COVID-19 pandemic was determined to be an indicator of impairment under ASC 350. The valuation limitation from the Company’s share price decline, the narrow cushion on the Insulation reporting unit and the high level of near-term macroeconomic uncertainty caused the Company to perform an interim goodwill impairment test as of March 31, 2020 over the Insulation reporting unit. As part of our quantitative testing process for goodwill of the Insulation reporting unit, we estimated fair values using a discounted cash flow analysis, a form of the income approach, from the perspective of a market participant. Significant assumptions used in the discounted cash flow approach are revenue growth rates and EBIT margins used in estimating discrete period cash flow forecasts of the reporting unit, the discount rate, and the long-term revenue growth rate and EBIT margins used in estimating the terminal business value. The terminal business value is determined by applying the long-term growth rate to the latest year for which a forecast exists. Based on the results of this interim testing over the Insulation reporting unit, the Company recorded a $944 million pre-tax non-cash impairment charge in the first quarter of 2020. This charge was recorded in Goodwill impairment charge on the Consolidated Statements of Earnings (Loss), and was included in the Corporate, Other and Eliminations reporting category. Consistent with the Company’s adoption of ASU 2017-04 in the first quarter of 2020, the impairment charge was equal to the excess of the Insulation reporting unit’s carrying value over its fair value. The reduction in fair value for the Insulation reporting unit, and corresponding impairment charge, was primarily driven by an increase in the discount rate arising from higher equity risk premiums that reflected significant uncertainty surrounding the effect from the COVID-19 pandemic and a decrease in the reporting unit's forecasted near-term cash flows. Other Intangible Assets Other intangible assets consist of the following (in millions): December 31, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Accumulated Net Trademarks and trade names $ 1,096 $ — $ 1,096 $ 1,109 $ — $ 1,109 Customer relationships 559 (218) 341 570 (200) 370 Technology 298 (168) 130 327 (172) 155 Other (a) 53 (3) 50 36 (3) 33 Total other intangible assets $ 2,006 $ (389) $ 1,617 $ 2,042 $ (375) $ 1,667 (a) Other primarily includes emissions and quarry rights. Indefinite-Lived Intangible Assets The annual tests performed in the fourth quarter of 2021 and 2020 resulted in no impairment of indefinite-lived intangible assets. In the first quarter of 2020, we performed an interim impairment test of one indefinite-lived trademark and one trade name used by our Insulation segment, based on the macroeconomic conditions that precipitated the interim goodwill impairment test described above. Based on the results of this testing, the Company recorded pre-tax non-cash impairment charges totaling $43 million in the first quarter of 2020 related to one trademark and one trade name in the Insulation segment. These charges were recorded in Other expenses, net on the Consolidated Statements of Earnings (Loss), and were included in the Corporate, Other and Eliminations reporting category. Fair values used in testing for potential impairment of our trademarks are calculated using the relief-from-royalty method by applying an estimated market value royalty rate to the forecasted revenues of the businesses that utilize those assets. The assumed cash flows from this calculation are discounted at a rate based on a market participant discount rate. A pre-tax impairment charge of $34 million for a trade name used by our European building and technical insulation business was recognized in the first quarter of 2020 due to the combined effect of lower expected sales following an immaterial divestiture in the first quarter of 2020, a decrease in the forecasted near-term cash flows, and a higher discount rate associated with the economic impact and uncertainty from the COVID-19 pandemic. A pre-tax impairment charge of $9 million related to a trademark used on global cellular glass insulation products was recorded in the first quarter of 2020 due to a slightly lower sales outlook and a similarly higher discount rate associated with the economic impact and uncertainty from the COVID-19 pandemic. Definite-Lived Intangible Assets The Company amortizes the cost of other intangible assets over their estimated useful lives which, individually, range up to 45 years. The Company's future cash flows are not materially impacted by its ability to extend or renew agreements related to its amortizable intangible assets. Amortization expense for intangible assets for the years ended December 31, 2021, 2020, and 2019 was $49 million, $48 million, and $49 million, respectively. The estimated amortization expense for intangible assets for the next five years is as follows (in millions): Period Amortization 2022 $ 45 2023 $ 41 2024 $ 38 2025 $ 38 2026 $ 36

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following (in millions): December 31, 2021 2020 Land $ 219 $ 222 Buildings and leasehold improvements 1,265 1,241 Machinery and equipment 5,343 5,155 Construction in progress 387 292 7,214 6,910 Accumulated depreciation (3,341) (3,101) Property, plant and equipment, net $ 3,873 $ 3,809 Machinery and equipment includes certain precious metals used in our production tooling, which comprise approximately 10% of total machinery and equipment as of both December 31, 2021 and December 31, 2020. Our production tooling needs in our Composites segment are changing in response to economic and technological factors. As a result, we exchanged certain precious metals used in production tooling for certain other precious metals to be used in production tooling. During the twelve months ended December 31, 2021, these non-cash exchanges resulted in a net increase to Machinery and equipment of $41 million and gains totaling $41 million which are included in Other (income) expenses, net on the Consolidated Statements of Earnings (Loss) and are reflected in the Corporate, Other and Eliminations reporting category. These non-cash investing activities are not included in Net cash flow used for investing activities in the Consolidated Statements of Cash Flows. We do not expect these non-cash exchanges to materially impact our current or future capital expenditure requirements or rate of depletion. For the years ended December 31, 2021, 2020 and 2019, depreciation expense was $429 million, $429 million and $403 million, respectively, which includes depletion expense related to precious metals used in our production tooling. In 2021, 2020 and 2019, depreciation expense included $13 million, $20 million and $9 million, respectively, of accelerated depreciation related to restructuring actions further explained in Note 11 to the Consolidated Financial Statements.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONSOn July 13, 2021, the Company acquired vliepa GmbH ("vliepa"), which specializes in the coating, printing, and finishing of nonwovens, paper, and film for the building materials industry in Europe, for $42 million, net of cash acquired. The acquisition broadens the Company’s global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region. The operating results and a preliminary purchase price allocation for vliepa have been included in the Company’s Composites segment within the Consolidated Financial Statements since the date of the acquisition. The purchase price allocation is preliminary until the Company obtains final information regarding fair values. The acquisition resulted in the recognition of $13 million in intangible assets, primarily consisting of customer relationships with an estimated weighted average life of 12 years, and $16 million in goodwill. The pro-forma effect of this acquisition on revenues and earnings was not material.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	The Company leases certain equipment and facilities under both operating and finance leases expiring on various dates through 2036. The nature of these leases generally fall into the following five categories: real estate, material handling equipment, fleet vehicles, office equipment and energy equipment. For leases with initial terms greater than 12 months, we consider these our right-of-use assets and record the related asset and obligation at the present value of lease payments over the term. For leases with initial terms equal to or less than 12 months, we do not consider them as right-of-use assets and instead consider them short-term lease costs that are recognized on a straight-line basis over the lease term. Many of our leases include escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when reasonably certain. These options to extend or terminate a lease are at our discretion. We have elected to take the practical expedient and not separate lease and non-lease components of contracts. We estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. Our lease agreements do not contain any material residual value guarantees. Balance Sheet Classification The table below presents the lease-related assets and liabilities recorded on the balance sheet (in millions): December 31, Leases Classification on Balance Sheet 2021 2020 Assets Operating lease assets Operating lease right-of-use assets $ 158 $ 154 Finance lease assets Other non-current assets 95 73 Total lease assets $ 253 $ 227 Liabilities Current Operating Current operating lease liabilities $ 49 $ 55 Finance Other current liabilities 25 19 Non-Current Operating Non-current operating lease liabilities 109 99 Finance Long-term debt, net of current portion 74 59 Total lease liabilities $ 257 $ 232 Lease Costs The table below presents lease-related costs (in millions): Twelve Months Ended December 31, 2021 2020 2019 Operating lease cost $ 69 $ 71 $ 81 Finance lease cost Amortization $ 23 $ 16 $ 5 Interest $ 4 $ 3 $ 2 Short-term lease cost $ 7 $ 11 $ 10 Variable lease cost $ 5 $ 5 $ 6 Cash paid for operating leases approximated operating lease expense for the years ended December 31, 2021, 2020 and 2019. Cash paid for finance leases included $23 million for financing activities and $4 million for operating activities for the year ended December 31, 2021. Cash paid for finance leases included $16 million for financing activities and $3 million for operating activities for the year ended December 31, 2020. Cash paid for finance leases included $5 million for financing activities and $2 million for operating activities for the year ended December 31, 2019. We added $81 million and $36 million of operating lease liabilities as a result of obtaining operating lease right-of-use assets in the years ended December 31, 2021 and 2020, respectively. We added $51 million and $69 million of finance lease liabilities as a result of obtaining finance lease right-of-use assets in the years ended December 31, 2021 and 2020, respectively. During the first quarter of 2021, the Company entered into a lease for a warehouse located near our manufacturing facility in Fort Smith, Arkansas that is expected to commence in 2022. The lease is for a to-be-constructed warehouse where the Company will serve as the construction agent for the landlord. At no point during the construction period will the Company control the underlying asset as defined in ASC 842 (Leases). This lease will result in finance lease right-of-use assets and corresponding lease liabilities of approximately $35 million at the time of lease commencement. Other Information The tables below present supplemental information related to leases: December 31, Weighted-average remaining lease term (years) 2021 2020 2019 Operating leases 4.2 3.8 4.0 Finance leases 6.9 6.8 3.9 December 31, Weighted-average discount rate 2021 2020 2019 Operating leases 3.27 % 3.29 % 3.30 % Finance leases 3.67 % 4.04 % 6.29 % Maturities of Lease Liabilities The table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 31, 2021 (in millions): Period Operating Leases Finance Leases 2022 $ 55 $ 29 2023 44 23 2024 27 16 2025 19 10 2026 12 7 2027 and beyond 17 31 Total minimum lease payments 174 116 Less: implied interest 16 17 Present value of future minimum lease payments 158 99 Less: current lease obligations 49 25 Long-term lease obligations $ 109 $ 74
LEASES	The Company leases certain equipment and facilities under both operating and finance leases expiring on various dates through 2036. The nature of these leases generally fall into the following five categories: real estate, material handling equipment, fleet vehicles, office equipment and energy equipment. For leases with initial terms greater than 12 months, we consider these our right-of-use assets and record the related asset and obligation at the present value of lease payments over the term. For leases with initial terms equal to or less than 12 months, we do not consider them as right-of-use assets and instead consider them short-term lease costs that are recognized on a straight-line basis over the lease term. Many of our leases include escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when reasonably certain. These options to extend or terminate a lease are at our discretion. We have elected to take the practical expedient and not separate lease and non-lease components of contracts. We estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. Our lease agreements do not contain any material residual value guarantees. Balance Sheet Classification The table below presents the lease-related assets and liabilities recorded on the balance sheet (in millions): December 31, Leases Classification on Balance Sheet 2021 2020 Assets Operating lease assets Operating lease right-of-use assets $ 158 $ 154 Finance lease assets Other non-current assets 95 73 Total lease assets $ 253 $ 227 Liabilities Current Operating Current operating lease liabilities $ 49 $ 55 Finance Other current liabilities 25 19 Non-Current Operating Non-current operating lease liabilities 109 99 Finance Long-term debt, net of current portion 74 59 Total lease liabilities $ 257 $ 232 Lease Costs The table below presents lease-related costs (in millions): Twelve Months Ended December 31, 2021 2020 2019 Operating lease cost $ 69 $ 71 $ 81 Finance lease cost Amortization $ 23 $ 16 $ 5 Interest $ 4 $ 3 $ 2 Short-term lease cost $ 7 $ 11 $ 10 Variable lease cost $ 5 $ 5 $ 6 Cash paid for operating leases approximated operating lease expense for the years ended December 31, 2021, 2020 and 2019. Cash paid for finance leases included $23 million for financing activities and $4 million for operating activities for the year ended December 31, 2021. Cash paid for finance leases included $16 million for financing activities and $3 million for operating activities for the year ended December 31, 2020. Cash paid for finance leases included $5 million for financing activities and $2 million for operating activities for the year ended December 31, 2019. We added $81 million and $36 million of operating lease liabilities as a result of obtaining operating lease right-of-use assets in the years ended December 31, 2021 and 2020, respectively. We added $51 million and $69 million of finance lease liabilities as a result of obtaining finance lease right-of-use assets in the years ended December 31, 2021 and 2020, respectively. During the first quarter of 2021, the Company entered into a lease for a warehouse located near our manufacturing facility in Fort Smith, Arkansas that is expected to commence in 2022. The lease is for a to-be-constructed warehouse where the Company will serve as the construction agent for the landlord. At no point during the construction period will the Company control the underlying asset as defined in ASC 842 (Leases). This lease will result in finance lease right-of-use assets and corresponding lease liabilities of approximately $35 million at the time of lease commencement. Other Information The tables below present supplemental information related to leases: December 31, Weighted-average remaining lease term (years) 2021 2020 2019 Operating leases 4.2 3.8 4.0 Finance leases 6.9 6.8 3.9 December 31, Weighted-average discount rate 2021 2020 2019 Operating leases 3.27 % 3.29 % 3.30 % Finance leases 3.67 % 4.04 % 6.29 % Maturities of Lease Liabilities The table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 31, 2021 (in millions): Period Operating Leases Finance Leases 2022 $ 55 $ 29 2023 44 23 2024 27 16 2025 19 10 2026 12 7 2027 and beyond 17 31 Total minimum lease payments 174 116 Less: implied interest 16 17 Present value of future minimum lease payments 158 99 Less: current lease obligations 49 25 Long-term lease obligations $ 109 $ 74

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
TOTAL CURRENT LIABILITIES	OTHER CURRENT LIABILITIES Other current liabilities consist of the following current portions of these liabilities (in millions): December 31, 2021 2020 Payroll, vacation pay and incentive compensation $ 232 $ 197 Income, property, and other non-payroll taxes 70 61 Other 251 252 Total other current liabilities $ 553 $ 510

WARRANTIES

WARRANTIES	12 Months Ended
	Dec. 31, 2021
Product Warranties Disclosures [Abstract]
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 1 for information about our separately-priced extended warranty contracts. A reconciliation of the warranty liability is as follows (in millions): December 31, 2021 2020 Beginning balance $ 72 $ 64 Amounts accrued for current year 21 21 Settlements of warranty claims (12) (13) Ending balance $ 81 $ 72

RESTRUCTURING AND ACQUISITION-R

RESTRUCTURING AND ACQUISITION-RELATED COSTS	12 Months Ended
	Dec. 31, 2021
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. Roofing Restructuring Actions In December 2021, the Company took actions to restructure operations within the Roofing segment's components product line by relocating production assets from China to India which will allow the business to optimize its manufacturing network and support a tariff mitigation strategy. During 2021, the Company recorded $5 million of charges primarily related to severance and other exit costs. The Company expects to recognize $10 million of incremental charges related to these actions in 2022. Santa Clara Insulation Site During the third quarter of 2021, the Company entered into a purchase and sale agreement for the Company's Insulation site in Santa Clara, California. The Company expects to continue operations at this facility through the third quarter of 2022 and complete the transaction in the first quarter of 2023. This action is part of the Company's on-going strategy to operate a flexible, cost-efficient manufacturing network and geographically locate its assets to better service its customers. Cumulative cash pre-tax charges associated with the transaction are expected to be in the range of $30 million to $40 million, primarily related to severance and one-time employee termination benefits, demolition costs, and other closing costs. In addition, cumulative non-cash charges are expected to be in the range of $75 million to $85 million, primarily consisting of accelerated depreciation of property, plant and equipment and derecognition of the carrying value of land, which will offset the gross proceeds at closing. During 2021, the Company recorded $25 million of charges, comprised of $13 million of severance, $10 million of accelerated depreciation and $2 million of pension related charges, associated with this agreement. 2020 Insulation Restructuring Actions During the fourth quarter of 2020, the Company took actions to avoid future capital outlays and reduce costs in its global Insulation segment, mainly through decisions to close certain manufacturing facilities in Shanghai, China and Fresno, Texas, and optimize a facility in Parainen, Finland. During 2021, the Company recorded $4 million of charges primarily related to accelerated depreciation. The Company expects to recognize an immaterial amount of incremental charges related to these actions in 2022. 2020 Composites Restructuring Actions During 2020, the Company took actions to reduce costs throughout its global Composites segment primarily through global workforce reductions, closure of manufacturing lines and other asset write-offs. The Company does not expect to recognize significant incremental costs related to these actions. Acquisition-Related Restructuring Following the acquisitions of Paroc Group Oy ("Paroc") and Pittsburgh Corning Corporation and Pittsburgh Corning Europe NV (collectively, "Pittsburgh Corning") into the Company's Insulation segment, the Company took actions to realize expected synergies from the newly acquired operations. The Company does not expect to recognize significant incremental costs related to these actions. Consolidated Statements of Earnings (Loss) Classification The following table presents the impact and respective location of total restructuring costs on the Consolidated Statements of Earnings (Loss), which are included in our Corporate, Other and Eliminations category (in millions): Twelve Months Ended December 31, Type of Cost Location 2021 2020 2019 Accelerated depreciation Cost of sales $ 13 $ 20 $ 9 Other exit costs Cost of sales 1 6 6 Other exit costs Marketing and administrative expenses 2 — — Severance Other (income) expenses, net 11 13 13 Other exit (gains) costs (a) Other (income) expenses, net (10) 2 (1) Other exit costs Non-operating (income) expense 2 — 1 Total restructuring costs $ 19 $ 41 $ 28 (a) Other exit (gains) costs in 2021 includes a $15 million gain related to the sale of land in Thimmapur, India. Please refer to Note 11 of our 2017 Form 10-K for more information about the 2017 Cost Reduction actions. Other exit (gains) costs in 2019 includes a $6 million gain related to the sale of an idle residential fiberglass insulation facility in Canada resulting from restructuring actions taken in 2016. Summary of Unpaid Liabilities The following table summarizes the status of the unpaid liabilities from the Company’s restructuring activities (in millions): Roofing Components Restructuring Actions Santa Clara Insulation Site 2020 Insulation Restructuring Actions 2020 Composites Restructuring Actions Acquisition-Related Restructuring Balance at December 31, 2020 $ — $ — $ 2 $ 2 $ 9 Restructuring costs (gains) 5 25 4 (1) (2) Payments — — (2) (1) (3) Accelerated depreciation and other non-cash items (4) (12) (3) — 1 Balance at December 31, 2021 $ 1 $ 13 $ 1 $ — $ 5 Cumulative charges incurred $ 5 $ 25 $ 27 $ 12 $ 27 As of December 31, 2021, the remaining liability balance is comprised of $20 million of severance, inclusive of $3 million of non-current severance and $17 million of severance the Company expects to pay over the next twelve months.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
DEBT	Details of the Company’s outstanding long-term debt, as well as the fair values, are as follows (in millions): December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value 4.200% senior notes, net of discount and financing fees, due 2022 $ — — $ 184 106 % 4.200% senior notes, net of discount and financing fees, due 2024 397 107 % 396 111 % 3.400% senior notes, net of discount and financing fees, due 2026 397 106 % 397 111 % 3.950% senior notes, net of discount and financing fees, due 2029 446 110 % 445 115 % 3.875% senior notes, net of discount and financing fees, due 2030 297 109 % 297 115 % 7.000% senior notes, net of discount and financing fees, due 2036 368 141 % 368 142 % 4.300% senior notes, net of discount and financing fees, due 2047 589 115 % 588 120 % 4.400% senior notes, net of discount and financing fees, due 2048 390 118 % 390 121 % Various finance leases, due through 2036 (a) 99 100 % 78 100 % Other 2 n/a 2 n/a Total long-term debt 2,985 n/a 3,145 n/a Less – current portion (a) 25 100 % 19 100 % Long-term debt, net of current portion $ 2,960 n/a $ 3,126 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 $300 million of 2030 senior notes on May 12, 2020. Interest on the notes is payable semiannually in arrears on June 1 and December 1 each year, beginning on December 1, 2020. The proceeds from these notes were used for general corporate purposes. The Company issued $450 million of 2029 senior notes on August 12, 2019. Interest on the notes is payable semiannually in arrears on February 15 and August 15 each year, beginning on February 15, 2020. The proceeds from these notes were used to repay $416 million of our 2022 senior notes and $34 million of our 2036 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 repay $250 million of our 2016 senior notes and $100 million of our 2019 senior notes and pay down our Senior Revolving Credit Facility. On August 19, 2021, the Company issued a make-whole call to repay the remaining portion of its outstanding 2022 senior notes, and the redemption was completed in the third quarter of 2021. The Company recognized approximately $9 million of loss on extinguishment of debt in the third quarter of 2021 associated with these actions. On October 31, 2006, the Company issued $550 million of 2036 senior notes. The proceeds of these notes were used to pay certain unsecured and administrative claims, finance general working capital needs and for general corporate purposes. Collectively, the senior notes above are referred to as the “Senior Notes.” The Senior Notes are general unsecured obligations of the Company and rank pari passu with all existing and future senior unsecured indebtedness of the Company. The 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 December 31, 2021. Senior Revolving Credit Facility The Company has an $800 million senior revolving credit facility (the "Senior Revolving Credit Facility") that 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. In July 2021, the Senior Revolving Credit Facility was amended to extend the maturity date to July 2026. The new agreement also includes fallback language related to a benchmark reference rate replacement, when a LIBOR transition occurs, and eliminated the minimum required interest expense coverage ratio covenant. The Senior Revolving Credit Facility contains various covenants, including a maximum allowed leverage 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 December 31, 2021. Please refer to the Credit Facility Utilization section below for liquidity information as of December 31, 2021. Receivables Securitization Facility The Company has a Receivables Purchase Agreement (RPA) that is 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 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. In April 2021, the securitization facility (the "Receivables Securitization Facility") was amended to extend the maturity date to April 2024. The new agreement also includes fallback language related to a benchmark reference rate replacement, when a LIBOR transition occurs. The RPA contains various covenants, including a maximum allowed leverage ratio, that the Company believes are usual and customary for a securitization facility. The Company was in compliance with these covenants as of December 31, 2021. Please refer to the Credit Facility Utilization section below for liquidity information as of December 31, 2021. 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 December 31, 2021 Senior Revolving Credit Facility Receivables Securitization Facility Facility size $ 800 $ 280 Collateral capacity limitation on availability n/a — Outstanding borrowings — — Outstanding letters of credit 4 1 Availability on facility $ 796 $ 279 Debt Maturities The aggregate maturities for all outstanding long-term debt borrowings for each of the five years following December 31, 2021 and thereafter are presented in the table below (in millions). The maturities below are the aggregate par amounts of the outstanding senior notes and finance lease liabilities: Period Maturities 2022 $ 25 2023 20 2024 414 2025 8 2026 406 2027 and beyond 2,152 Total $ 3,025 Short-Term Debt At December 31, 2021 and December 31, 2020, short-term borrowings were $6 million and $1 million, respectively. The short-term borrowings for both periods consisted of various operating lines of credit. The weighted average interest rate on all short-term borrowings was approximately 1.5% and 1.1% for December 31, 2021 and December 31, 2020, respectively.

PENSION PLANS

PENSION PLANS	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
PENSION PLANS	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 U.S. plan, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average remaining life expectancy of inactive participants. In all of 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. During 2019, the Company completed balance sheet risk mitigation actions related to certain U.S. and non-U.S. pension plans. These actions included the purchase of non-participating annuity contracts from insurance companies and the payment of lump sums to retirees, which resulted in the settlement of liabilities to affected participants. As a result of these transactions, the Company recognized pension settlement losses of $43 million during the twelve months ended December 31, 2019. These losses are included in Non-operating (income) expense on the Consolidated Statements of Earnings (Loss) in our Corporate, Other and Eliminations category. These transactions did not have a material effect on the plans' funded status. The following tables provide a reconciliation of the change in the projected benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 910 $ 523 $ 1,433 $ 866 $ 475 $ 1,341 Service cost 5 6 11 5 5 10 Interest cost 22 9 31 28 10 38 Actuarial (gain) loss (31) (28) (59) 83 28 111 Currency (gain) loss — (10) (10) — 18 18 Benefits paid (67) (19) (86) (71) (16) (87) Plan amendments — (1) (1) — 3 3 Settlements/curtailments — (4) (4) (1) (4) (5) Other 2 — 2 — 4 4 Benefit obligation at end of period $ 841 $ 476 $ 1,317 $ 910 $ 523 $ 1,433 December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Plan Assets Fair value of assets at beginning of period $ 842 $ 441 $ 1,283 $ 733 $ 386 $ 1,119 Actual return on plan assets 41 12 53 80 37 117 Currency gain (loss) — (8) (8) — 14 14 Company contributions — 21 21 101 21 122 Benefits paid (67) (19) (86) (71) (16) (87) Settlements/curtailments — (4) (4) (1) (4) (5) Other — — — — 3 3 Fair value of assets at end of period $ 816 $ 443 $ 1,259 $ 842 $ 441 $ 1,283 Funded status $ (25) $ (33) $ (58) $ (68) $ (82) $ (150) December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Amounts Recognized in the Consolidated Balance Sheets Prepaid pension cost $ — $ 21 $ 21 $ — $ 12 $ 12 Accrued pension cost – current — (2) (2) — (2) (2) Accrued pension cost – non-current (25) (52) (77) (68) (92) (160) Net amount recognized $ (25) $ (33) $ (58) $ (68) $ (82) $ (150) Amounts Recorded in AOCI Net actuarial loss $ (333) $ (81) $ (414) $ (381) $ (109) $ (490) For the year ended December 31, 2021, the actuarial gain of $59 million was largely the result of increases in discount rates across all plans. In the U.S. plan, the actuarial gain was primarily driven by the increase in the discount rate. The gain was slightly offset by the unfavorable impact of updated mortality assumptions. In the Non-U.S. plans, the actuarial gain was driven by an increase in the discount rate of the U.K. and other plans, partially offset by inflation. For the year ended December 31, 2020, the actuarial loss of $111 million was largely the result of decreases in discount rates across all plans. In the U.S. plan, the actuarial loss was primarily driven by the decrease in the discount rate. Additionally, updated mortality assumptions and a decrease in the cash balance interest crediting rate negatively impacted the projected benefit obligation (PBO). In the Non-U.S. plans, the actuarial loss was driven by a decrease in the discount rate of the U.K. and other plans, partially offset by inflation. The following table presents information about the projected benefit obligation, accumulated benefit obligation (ABO) and plan assets of the Company’s pension plans (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Plans with PBO in excess of fair value of plan assets: Projected benefit obligation $ 841 $ 328 $ 1,169 $ 910 $ 364 $ 1,274 Fair value of plan assets $ 816 $ 275 $ 1,091 $ 842 $ 270 $ 1,112 Plans with ABO in excess of fair value of plan assets: Accumulated benefit obligation $ 841 $ 300 $ 1,141 $ 910 $ 330 $ 1,240 Fair value of plan assets $ 816 $ 257 $ 1,073 $ 842 $ 249 $ 1,091 Weighted-Average Assumptions Used to Determine Benefit Obligation The following table presents weighted average assumptions used to determine benefit obligations at the measurement dates: December 31, 2021 2020 United States Plans Discount rate 2.85 % 2.50 % Expected return on plan assets 4.75 % 4.75 % Cash balance interest crediting rate 1.26 % 0.79 % Non-United States Plans Discount rate 2.35 % 1.73 % Expected return on plan assets 3.93 % 4.08 % Rate of compensation increase 3.31 % 3.00 % Components of Net Periodic Pension Cost (Income) The following table presents the components of net periodic pension cost (income) (in millions): Twelve Months Ended December 31, 2021 2020 2019 Service cost $ 11 $ 10 $ 10 Interest cost 31 38 47 Expected return on plan assets (54) (62) (68) Amortization of actuarial loss 16 15 15 Settlement/curtailment — 1 44 Other 2 — — Net periodic pension cost $ 6 $ 2 $ 48 Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost The following table presents weighted-average assumptions used to determine net periodic pension costs for the periods noted: Twelve Months Ended December 31, 2021 2020 2019 United States Plans Discount rate 2.50 % 3.30 % 4.25 % Expected return on plan assets 4.75 % 6.50 % 6.75 % Cash balance interest crediting rate 0.79 % 2.66 % 3.77 % Rate of compensation increase N/A (a) N/A (a) N/A (a) Non-United States Plans Discount rate 1.73 % 2.24 % 3.04 % Expected return on plan assets 4.08 % 4.66 % 4.91 % Rate of compensation increase 3.00 % 3.99 % 4.14 % (a) Not applicable due to changes in plan made on August 1, 2009 that were effective beginning January 1, 2010. The expected return on plan assets assumption is derived by taking into consideration the target plan asset allocation, historical rates of return on those assets, projected future asset class returns and net outperformance of the market by active investment managers. An asset return model is used to develop an expected range of returns on plan investments over a 30 year period, with the expected rate of return selected from a best estimate range within the total range of projected results. The result is then rounded down to the nearest 25 basis points. Items Measured at Fair Value The Company classifies and discloses pension plan assets in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Plan Assets The tables in this section show pension plan asset fair values and fair value leveling information. The assets are categorized into one of the three levels of the fair value hierarchy or are not subject to leveling, in the case of investments that are valued using the net asset value per share (or its equivalent) practical expedient ("NAV"). The following table summarizes the fair values and applicable fair value hierarchy levels of United States pension plan assets (in millions): December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 56 $ — $ — $ 56 Fixed income and cash equivalents: Corporate bonds 35 328 — 363 Government debt — 78 — 78 Total United States plan assets subject to leveling $ 91 $ 406 $ — 497 Plan assets measured at NAV: Equities 144 Fixed income and cash equivalents 125 Absolute return strategies 50 Total United States plan assets $ 816 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 53 $ — $ — $ 53 Fixed income and cash equivalents: Corporate bonds 31 288 — 319 Government debt — 68 — 68 Total United States plan assets subject to leveling $ 84 $ 356 $ — 440 Plan assets measured at NAV: Equities 193 Fixed income and cash equivalents 157 Absolute return strategies 52 Total United States plan assets $ 842 The following table summarizes the fair values and applicable fair value hierarchy levels of non-United States pension plan assets (in millions): December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Cash and cash equivalents — 72 — 72 Fixed income — 10 — 10 Total non-United States plan assets subject to leveling $ — $ 84 $ — 84 Plan assets measured at NAV: Equities 61 Fixed income and cash equivalents 202 Absolute return strategies and other 96 Total non-United States plan assets $ 443 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Fixed income and cash equivalents: Cash and cash equivalents — 81 — 81 Corporate bonds — 9 — 9 Total non-United States plan assets subject to leveling $ — $ 92 $ — 92 Plan assets measured at NAV: Equities 86 Fixed income and cash equivalents 156 Absolute return strategies 107 Total non-United States plan assets $ 441 Investment Strategy The current targeted asset allocation for the United States pension plan is to have 23.5% of assets invested in equities, 70.5% in intermediate and long-term fixed income securities and 6% in absolute return strategies. Assets are rebalanced at least quarterly to conform to policy tolerances. The Company actively evaluates the reasonableness of its asset mix given changes in the projected benefit obligation and market dynamics. Our investment policy and asset mix for the non-United States pension plans varies by location and is based on projected benefit obligation and market dynamics. Estimated Future Benefit Payments The following table shows estimated future benefit payments from the Company’s pension plans (in millions): Year Estimated Benefit Payments 2022 $ 85 2023 $ 82 2024 $ 79 2025 $ 76 2026 $ 78 2027-2031 $ 367 Contributions The Company does not expect to contribute to the U.S. pension plan during 2022. The Company expects to contribute $25 million in cash to non-U.S. plans during 2022. Actual contributions to the plans may change as a result of a variety of factors, including changes in laws that impact funding requirements. Defined Contribution Plans The Company sponsors two defined contribution plans which are available to substantially all United States employees. The Company matches a percentage of employee contributions up to a maximum level and contributes up to 2% of an employee’s wages regardless of employee contributions. The Company recognized expense of $52 million, $48 million and $48 million during the years ended December 31, 2021, 2020 and 2019, respectively, related to these plans. The Company maintains health care 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. Salaried employees hired on or before December 31, 2005 become eligible to participate in the United States health care plans upon retirement if they have accumulated 10 years of service after age 45, 48 or 50, depending on the category of employee. For employees hired after December 31, 2005, the Company does not provide subsidized retiree health care. Some of the plans are contributory, with some retiree contributions adjusted annually. The Company has reserved the right to change or eliminate these benefit plans subject to the terms of collective bargaining agreements. The following table provides a reconciliation of the change in the projected benefit obligation and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2021 and 2020 (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 163 $ 14 $ 177 $ 169 $ 14 $ 183 Service cost 1 — 1 1 — 1 Interest cost 3 1 4 5 1 6 Actuarial (gain) loss (4) (1) (5) — 1 1 Currency gain — — — — (1) (1) Benefits paid (12) (1) (13) (12) (1) (13) Benefit obligation at end of period $ 151 $ 13 $ 164 $ 163 $ 14 $ 177 Funded status $ (151) $ (13) $ (164) $ (163) $ (14) $ (177) Amounts Recognized in the Consolidated Balance Sheets Accrued benefit obligation – current $ (13) $ (1) $ (14) $ (13) $ (1) $ (14) Accrued benefit obligation – non-current (138) (12) (150) (150) (13) (163) Net amount recognized $ (151) $ (13) $ (164) $ (163) $ (14) $ (177) Amounts Recorded in AOCI Net actuarial gain $ 37 $ 3 $ 40 $ 41 $ 2 $ 43 Net prior service credit 1 — 1 2 — 2 Net amount recognized $ 38 $ 3 $ 41 $ 43 $ 2 $ 45 The following table presents information about the accumulated postretirement benefit obligation (APBO) and plan assets of the Company's postretirement benefit plans (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Plans with APBO in excess of fair value of plan assets: Accumulated postretirement benefit obligation $ 151 $ 13 $ 164 $ 163 $ 14 $ 177 Fair value of plan assets $ — $ — $ — $ — $ — $ — Weighted-Average Assumptions Used to Determine Benefit Obligations The following table presents the discount rates used to determine the benefit obligations: December 31, 2021 2020 United States plans 2.70 % 2.25 % Non-United States plans 3.63 % 3.04 % Components of Net Periodic Postretirement Benefit Cost (Income) The following table presents the components of net periodic postretirement benefit cost (income) (in millions): Twelve Months Ended December 31, 2021 2020 2019 Service cost $ 1 $ 1 $ 1 Interest cost 4 6 8 Amortization of prior service credit (1) (4) (4) Amortization of actuarial gain (8) (8) (8) Net periodic postretirement benefit income $ (4) $ (5) $ (3) Weighted-Average Assumptions Used to Determine Net Periodic Postretirement Benefit Cost The following table presents the discount rates used to determine net periodic postretirement benefit cost: Twelve Months Ended December 31, 2021 2020 2019 United States plans 2.25 % 3.10 % 4.15 % Non-United States plans 3.04 % 3.84 % 4.59 % The following table presents health care cost trend rates used to determine net periodic postretirement benefit cost, as well as information regarding the ultimate rate and the year in which the ultimate rate is reached: Twelve Months Ended December 31, 2021 2020 2019 United States plans: Initial rate at end of year 8.10 % 8.20 % 6.50 % Ultimate rate 4.50 % 4.50 % 5.00 % Year in which ultimate rate is reached 2029 2029 2026 Non-United States plans: Initial rate at end of year 4.25 % 4.10 % 5.45 % Ultimate rate 3.87 % 3.90 % 5.45 % Year in which ultimate rate is reached 2040 2040 2019 Estimated Future Benefit Payments The following table shows estimated future benefit payments from the Company’s postretirement benefit plans (in millions): Year Estimated Benefit Payments 2022 $ 14 2023 $ 13 2024 $ 13 2025 $ 12 2026 $ 12 2027-2031 $ 53 Postemployment Benefits The Company may also provide benefits to former or inactive employees after employment but before retirement under certain conditions. These benefits include continuation of benefits such as health care and life insurance coverage. The accrued postemployment benefits liability at December 31, 2021 and 2020 was $8 million and $8 million, respectively. There was less than $1 million of net periodic postemployment benefit income for the year ended December 31, 2021. The net periodic postemployment benefit (income)/expense for the years ended December 31, 2020, and 2019 were $(1) million and $1 million, respectively.

POSTEMPLOYMENT AND POSTRETIREME

POSTEMPLOYMENT AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
POSTEMPLOYMENT AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	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 U.S. plan, the unrecognized cost of any retroactive amendments and actuarial gains and losses are amortized over the average remaining life expectancy of inactive participants. In all of 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. During 2019, the Company completed balance sheet risk mitigation actions related to certain U.S. and non-U.S. pension plans. These actions included the purchase of non-participating annuity contracts from insurance companies and the payment of lump sums to retirees, which resulted in the settlement of liabilities to affected participants. As a result of these transactions, the Company recognized pension settlement losses of $43 million during the twelve months ended December 31, 2019. These losses are included in Non-operating (income) expense on the Consolidated Statements of Earnings (Loss) in our Corporate, Other and Eliminations category. These transactions did not have a material effect on the plans' funded status. The following tables provide a reconciliation of the change in the projected benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 910 $ 523 $ 1,433 $ 866 $ 475 $ 1,341 Service cost 5 6 11 5 5 10 Interest cost 22 9 31 28 10 38 Actuarial (gain) loss (31) (28) (59) 83 28 111 Currency (gain) loss — (10) (10) — 18 18 Benefits paid (67) (19) (86) (71) (16) (87) Plan amendments — (1) (1) — 3 3 Settlements/curtailments — (4) (4) (1) (4) (5) Other 2 — 2 — 4 4 Benefit obligation at end of period $ 841 $ 476 $ 1,317 $ 910 $ 523 $ 1,433 December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Plan Assets Fair value of assets at beginning of period $ 842 $ 441 $ 1,283 $ 733 $ 386 $ 1,119 Actual return on plan assets 41 12 53 80 37 117 Currency gain (loss) — (8) (8) — 14 14 Company contributions — 21 21 101 21 122 Benefits paid (67) (19) (86) (71) (16) (87) Settlements/curtailments — (4) (4) (1) (4) (5) Other — — — — 3 3 Fair value of assets at end of period $ 816 $ 443 $ 1,259 $ 842 $ 441 $ 1,283 Funded status $ (25) $ (33) $ (58) $ (68) $ (82) $ (150) December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Amounts Recognized in the Consolidated Balance Sheets Prepaid pension cost $ — $ 21 $ 21 $ — $ 12 $ 12 Accrued pension cost – current — (2) (2) — (2) (2) Accrued pension cost – non-current (25) (52) (77) (68) (92) (160) Net amount recognized $ (25) $ (33) $ (58) $ (68) $ (82) $ (150) Amounts Recorded in AOCI Net actuarial loss $ (333) $ (81) $ (414) $ (381) $ (109) $ (490) For the year ended December 31, 2021, the actuarial gain of $59 million was largely the result of increases in discount rates across all plans. In the U.S. plan, the actuarial gain was primarily driven by the increase in the discount rate. The gain was slightly offset by the unfavorable impact of updated mortality assumptions. In the Non-U.S. plans, the actuarial gain was driven by an increase in the discount rate of the U.K. and other plans, partially offset by inflation. For the year ended December 31, 2020, the actuarial loss of $111 million was largely the result of decreases in discount rates across all plans. In the U.S. plan, the actuarial loss was primarily driven by the decrease in the discount rate. Additionally, updated mortality assumptions and a decrease in the cash balance interest crediting rate negatively impacted the projected benefit obligation (PBO). In the Non-U.S. plans, the actuarial loss was driven by a decrease in the discount rate of the U.K. and other plans, partially offset by inflation. The following table presents information about the projected benefit obligation, accumulated benefit obligation (ABO) and plan assets of the Company’s pension plans (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Plans with PBO in excess of fair value of plan assets: Projected benefit obligation $ 841 $ 328 $ 1,169 $ 910 $ 364 $ 1,274 Fair value of plan assets $ 816 $ 275 $ 1,091 $ 842 $ 270 $ 1,112 Plans with ABO in excess of fair value of plan assets: Accumulated benefit obligation $ 841 $ 300 $ 1,141 $ 910 $ 330 $ 1,240 Fair value of plan assets $ 816 $ 257 $ 1,073 $ 842 $ 249 $ 1,091 Weighted-Average Assumptions Used to Determine Benefit Obligation The following table presents weighted average assumptions used to determine benefit obligations at the measurement dates: December 31, 2021 2020 United States Plans Discount rate 2.85 % 2.50 % Expected return on plan assets 4.75 % 4.75 % Cash balance interest crediting rate 1.26 % 0.79 % Non-United States Plans Discount rate 2.35 % 1.73 % Expected return on plan assets 3.93 % 4.08 % Rate of compensation increase 3.31 % 3.00 % Components of Net Periodic Pension Cost (Income) The following table presents the components of net periodic pension cost (income) (in millions): Twelve Months Ended December 31, 2021 2020 2019 Service cost $ 11 $ 10 $ 10 Interest cost 31 38 47 Expected return on plan assets (54) (62) (68) Amortization of actuarial loss 16 15 15 Settlement/curtailment — 1 44 Other 2 — — Net periodic pension cost $ 6 $ 2 $ 48 Weighted-Average Assumptions Used to Determine Net Periodic Pension Cost The following table presents weighted-average assumptions used to determine net periodic pension costs for the periods noted: Twelve Months Ended December 31, 2021 2020 2019 United States Plans Discount rate 2.50 % 3.30 % 4.25 % Expected return on plan assets 4.75 % 6.50 % 6.75 % Cash balance interest crediting rate 0.79 % 2.66 % 3.77 % Rate of compensation increase N/A (a) N/A (a) N/A (a) Non-United States Plans Discount rate 1.73 % 2.24 % 3.04 % Expected return on plan assets 4.08 % 4.66 % 4.91 % Rate of compensation increase 3.00 % 3.99 % 4.14 % (a) Not applicable due to changes in plan made on August 1, 2009 that were effective beginning January 1, 2010. The expected return on plan assets assumption is derived by taking into consideration the target plan asset allocation, historical rates of return on those assets, projected future asset class returns and net outperformance of the market by active investment managers. An asset return model is used to develop an expected range of returns on plan investments over a 30 year period, with the expected rate of return selected from a best estimate range within the total range of projected results. The result is then rounded down to the nearest 25 basis points. Items Measured at Fair Value The Company classifies and discloses pension plan assets in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Plan Assets The tables in this section show pension plan asset fair values and fair value leveling information. The assets are categorized into one of the three levels of the fair value hierarchy or are not subject to leveling, in the case of investments that are valued using the net asset value per share (or its equivalent) practical expedient ("NAV"). The following table summarizes the fair values and applicable fair value hierarchy levels of United States pension plan assets (in millions): December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 56 $ — $ — $ 56 Fixed income and cash equivalents: Corporate bonds 35 328 — 363 Government debt — 78 — 78 Total United States plan assets subject to leveling $ 91 $ 406 $ — 497 Plan assets measured at NAV: Equities 144 Fixed income and cash equivalents 125 Absolute return strategies 50 Total United States plan assets $ 816 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 53 $ — $ — $ 53 Fixed income and cash equivalents: Corporate bonds 31 288 — 319 Government debt — 68 — 68 Total United States plan assets subject to leveling $ 84 $ 356 $ — 440 Plan assets measured at NAV: Equities 193 Fixed income and cash equivalents 157 Absolute return strategies 52 Total United States plan assets $ 842 The following table summarizes the fair values and applicable fair value hierarchy levels of non-United States pension plan assets (in millions): December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Cash and cash equivalents — 72 — 72 Fixed income — 10 — 10 Total non-United States plan assets subject to leveling $ — $ 84 $ — 84 Plan assets measured at NAV: Equities 61 Fixed income and cash equivalents 202 Absolute return strategies and other 96 Total non-United States plan assets $ 443 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Fixed income and cash equivalents: Cash and cash equivalents — 81 — 81 Corporate bonds — 9 — 9 Total non-United States plan assets subject to leveling $ — $ 92 $ — 92 Plan assets measured at NAV: Equities 86 Fixed income and cash equivalents 156 Absolute return strategies 107 Total non-United States plan assets $ 441 Investment Strategy The current targeted asset allocation for the United States pension plan is to have 23.5% of assets invested in equities, 70.5% in intermediate and long-term fixed income securities and 6% in absolute return strategies. Assets are rebalanced at least quarterly to conform to policy tolerances. The Company actively evaluates the reasonableness of its asset mix given changes in the projected benefit obligation and market dynamics. Our investment policy and asset mix for the non-United States pension plans varies by location and is based on projected benefit obligation and market dynamics. Estimated Future Benefit Payments The following table shows estimated future benefit payments from the Company’s pension plans (in millions): Year Estimated Benefit Payments 2022 $ 85 2023 $ 82 2024 $ 79 2025 $ 76 2026 $ 78 2027-2031 $ 367 Contributions The Company does not expect to contribute to the U.S. pension plan during 2022. The Company expects to contribute $25 million in cash to non-U.S. plans during 2022. Actual contributions to the plans may change as a result of a variety of factors, including changes in laws that impact funding requirements. Defined Contribution Plans The Company sponsors two defined contribution plans which are available to substantially all United States employees. The Company matches a percentage of employee contributions up to a maximum level and contributes up to 2% of an employee’s wages regardless of employee contributions. The Company recognized expense of $52 million, $48 million and $48 million during the years ended December 31, 2021, 2020 and 2019, respectively, related to these plans. The Company maintains health care 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. Salaried employees hired on or before December 31, 2005 become eligible to participate in the United States health care plans upon retirement if they have accumulated 10 years of service after age 45, 48 or 50, depending on the category of employee. For employees hired after December 31, 2005, the Company does not provide subsidized retiree health care. Some of the plans are contributory, with some retiree contributions adjusted annually. The Company has reserved the right to change or eliminate these benefit plans subject to the terms of collective bargaining agreements. The following table provides a reconciliation of the change in the projected benefit obligation and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2021 and 2020 (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 163 $ 14 $ 177 $ 169 $ 14 $ 183 Service cost 1 — 1 1 — 1 Interest cost 3 1 4 5 1 6 Actuarial (gain) loss (4) (1) (5) — 1 1 Currency gain — — — — (1) (1) Benefits paid (12) (1) (13) (12) (1) (13) Benefit obligation at end of period $ 151 $ 13 $ 164 $ 163 $ 14 $ 177 Funded status $ (151) $ (13) $ (164) $ (163) $ (14) $ (177) Amounts Recognized in the Consolidated Balance Sheets Accrued benefit obligation – current $ (13) $ (1) $ (14) $ (13) $ (1) $ (14) Accrued benefit obligation – non-current (138) (12) (150) (150) (13) (163) Net amount recognized $ (151) $ (13) $ (164) $ (163) $ (14) $ (177) Amounts Recorded in AOCI Net actuarial gain $ 37 $ 3 $ 40 $ 41 $ 2 $ 43 Net prior service credit 1 — 1 2 — 2 Net amount recognized $ 38 $ 3 $ 41 $ 43 $ 2 $ 45 The following table presents information about the accumulated postretirement benefit obligation (APBO) and plan assets of the Company's postretirement benefit plans (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Plans with APBO in excess of fair value of plan assets: Accumulated postretirement benefit obligation $ 151 $ 13 $ 164 $ 163 $ 14 $ 177 Fair value of plan assets $ — $ — $ — $ — $ — $ — Weighted-Average Assumptions Used to Determine Benefit Obligations The following table presents the discount rates used to determine the benefit obligations: December 31, 2021 2020 United States plans 2.70 % 2.25 % Non-United States plans 3.63 % 3.04 % Components of Net Periodic Postretirement Benefit Cost (Income) The following table presents the components of net periodic postretirement benefit cost (income) (in millions): Twelve Months Ended December 31, 2021 2020 2019 Service cost $ 1 $ 1 $ 1 Interest cost 4 6 8 Amortization of prior service credit (1) (4) (4) Amortization of actuarial gain (8) (8) (8) Net periodic postretirement benefit income $ (4) $ (5) $ (3) Weighted-Average Assumptions Used to Determine Net Periodic Postretirement Benefit Cost The following table presents the discount rates used to determine net periodic postretirement benefit cost: Twelve Months Ended December 31, 2021 2020 2019 United States plans 2.25 % 3.10 % 4.15 % Non-United States plans 3.04 % 3.84 % 4.59 % The following table presents health care cost trend rates used to determine net periodic postretirement benefit cost, as well as information regarding the ultimate rate and the year in which the ultimate rate is reached: Twelve Months Ended December 31, 2021 2020 2019 United States plans: Initial rate at end of year 8.10 % 8.20 % 6.50 % Ultimate rate 4.50 % 4.50 % 5.00 % Year in which ultimate rate is reached 2029 2029 2026 Non-United States plans: Initial rate at end of year 4.25 % 4.10 % 5.45 % Ultimate rate 3.87 % 3.90 % 5.45 % Year in which ultimate rate is reached 2040 2040 2019 Estimated Future Benefit Payments The following table shows estimated future benefit payments from the Company’s postretirement benefit plans (in millions): Year Estimated Benefit Payments 2022 $ 14 2023 $ 13 2024 $ 13 2025 $ 12 2026 $ 12 2027-2031 $ 53 Postemployment Benefits The Company may also provide benefits to former or inactive employees after employment but before retirement under certain conditions. These benefits include continuation of benefits such as health care and life insurance coverage. The accrued postemployment benefits liability at December 31, 2021 and 2020 was $8 million and $8 million, respectively. There was less than $1 million of net periodic postemployment benefit income for the year ended December 31, 2021. The net periodic postemployment benefit (income)/expense for the years ended December 31, 2020, and 2019 were $(1) million and $1 million, respectively.

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	12 Months Ended
	Dec. 31, 2021
Loss Contingency [Abstract]
CONTINGENT LIABILITIES AND OTHER MATTERS	The Company may be involved in various legal and regulatory proceedings relating to employment, antitrust, tax, product liability, environmental, contracts, intellectual property 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, reductions of greenhouse gases, discharges to water, management of hazardous materials, handling and disposal of solid wastes, use of chemicals in our manufacturing processes, and remediation of contaminated sites. All Company manufacturing facilities operate using an ISO 14001 or equivalent environmental management system. The Company’s 2030 Sustainability Goals include significant global reductions in energy use, water consumption, waste to landfill, and emissions of greenhouse gases, fine particulate matter, and volatile organic air emissions, and protection of biodiversity. 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 December 31, 2021, the Company was involved with a total of 22 sites worldwide, including 9 Superfund and state equivalent sites and 13 owned or formerly owned sites. None of the liabilities for these sites are individually significant to the Company.

STOCK COMPENSATION

STOCK COMPENSATION	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK COMPENSATION	Description of the Plan On April 18, 2019, the Company's stockholders approved the Owens Corning 2019 Stock Plan (the "2019 Stock Plan") which replaced the 2016 Stock Plan. The 2019 Stock Plan authorizes grants of stock options, stock appreciation rights, restricted stock awards, restricted stock units, bonus stock awards, performance stock awards and performance stock units. At December 31, 2021, the number of shares remaining available under the 2019 Stock Plan for all stock awards was 3.1 million. Prior to 2019, employees were eligible to receive stock awards under the Owens Corning 2016 Stock Plan and the Owens Corning 2013 Stock Plan. Total Stock-Based Compensation Expense Stock-based compensation expense included in Marketing and administrative expenses in the accompanying Consolidated Statements of Earnings (Loss) is as follows (in millions): Twelve Months Ended December 31, 2021 2020 2019 Total stock-based compensation expense $ 50 $ 41 $ 39 Income tax benefit recognized on stock-based compensation expense $ 14 $ 14 $ 7 Stock Options The Company has granted stock options under its stockholder approved stock plans. 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 closing market price of the Company’s common stock on the date of grant and an option’s maximum term is 10 years. The volatility assumption was based on a benchmark study of our peers prior to 2014. Starting with the options granted in 2014, the volatility was based on the Company’s historic volatility. The Company has not granted stock options since the year ended December 31, 2014. As of December 31, 2021, there was no unrecognized compensation cost related to stock options and the range of exercise prices on outstanding stock options was $37.65 — $42.16. The following table summarizes the Company’s stock option activity in 2021: Weighted-Average Number of Options Exercise Price Remaining Intrinsic Value (in millions) Outstanding, December 31, 2020 361,775 $ 37.77 1.50 $ 14 Exercised (305,875) 37.49 Outstanding, December 31, 2021 55,900 $ 39.34 1.71 $ 3 Exercisable, December 31, 2021 55,900 $ 39.34 1.71 $ 3 The total intrinsic value of stock options exercised and the resulting tax benefits received were as follows (in millions): Twelve Months Ended December 31, 2021 2020 2019 Cash received upon exercise of stock option awards $ 11 $ 2 $ 2 Income tax benefit received for stock option awards exercised $ 4 $ — $ — Restricted Stock Awards and Restricted Stock Units The Company has granted restricted stock awards and restricted stock units (collectively referred to as “RSUs”) under its stockholder approved stock plans. Compensation expense for restricted stock is measured based on the closing 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 The weighted average grant date fair value of RSUs granted in 2021, 2020 and 2019 was $84.03, $63.96 and $52.60, respectively. The following table shows a summary of the Company’s RSU plans: Number of Weighted- Balance at January 1, 2021 1,419,454 $ 54.99 Granted 370,172 84.03 Vested (465,990) 54.44 Forfeited (54,643) 66.61 Balance at December 31, 2021 1,268,993 $ 62.25 As of December 31, 2021, there was $31 million of total unrecognized compensation cost related to RSUs. That cost is expected to be recognized over a weighted-average period of 2.41 years. The total grant date fair value of shares vested during the years ended December 31, 2021, 2020 and 2019 was $26 million, $27 million and $21 million, respectively. 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 the 2021, 2020 and 2019 grants is contingent on meeting internal company-based metrics or an external-based stock performance metric. In 2021, 2020 and 2019, the Company granted both internal company-based and external-based metric PSUs. Internal Company-based metrics The internal company-based metrics vest after a three-year period and are based on various company-based metrics over a three-year period. The amount of stock distributed will vary from 0% to 300% of PSUs awarded depending on performance versus the company-based metrics. The initial fair value for all internal company-based metric PSUs assumes that the performance goals will be achieved and is based on the grant date stock price. This assumption is monitored quarterly and if it becomes probable that such goals will not be achieved or will be exceeded, compensation expense recognized will be adjusted and previous surplus compensation expense recognized will be reversed or additional expense will be recognized. The expected term represents the period from the grant date to the end of the three-year performance period. Pro-rata vesting may be utilized in the case of death, disability or retirement, and awards, if earned, will be paid at the end of the three-year period. External based metrics The external-based metrics vest after a three-year period. Outstanding grants issued in or after 2018 will be based on the Company's total stockholder return relative to the performance of the Dow Jones U.S. Construction & Materials Index. The amount of stock distributed will vary from 0% to 200% of PSUs awarded depending on the relative stockholder return performance. The fair value of external-based metric PSUs has been estimated at the grant date using a Monte Carlo simulation that uses various assumptions. The following table provides a range of these assumptions: Twelve Months Ended December 31, 2021 2020 2019 Expected volatility 42.74% — 43.67% 28.43% — 44.83% 26.67 % Risk free interest rate 0.18% — 0.24% 0.15% — 1.43% 2.45 % Expected term (in years) 2.56 — 2.90 2.31 — 2.90 2.90 Grant date fair value of units granted $99.19 — $127.37 $68.60 — $76.58 $ 68.65 The risk-free interest rate was based on zero coupon United States Treasury bills at the grant date. The expected term represents the period from the grant date to the end of the three-year performance period. PSU Summary As of December 31, 2021, there was $20 million total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.68 years. The total grant date fair value of shares vested during the years ended December 31, 2021, 2020 and 2019, was $8 million, $9 million and $14 million, respectively. The following table shows a summary of the Company's PSU plans: Number of Weighted- Average Grant Date Fair Value Balance as of January 1, 2021 323,361 $ 61.78 Granted 153,858 85.81 Vested (143,218) 58.44 Forfeited (24,030) 66.32 Balance as of December 31, 2021 309,971 $ 74.78 Employee Stock Purchase Plan The Owens Corning Employee Stock Purchase Plan (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. On April 16, 2020, the Company's stockholders approved the Amended and Restated Owens Corning Employee Stock Purchase Plan which increased the number of shares available for issuance under the plan by 4.2 million shares. As of December 31, 2021, 3.8 million shares remain available for purchase. Included in total stock-based compensation expense is $6 million, $6 million and $5 million of expense related to the Company's ESPP for the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021, the Company had $2 million of total unrecognized compensation costs related to the ESPP. Under the outstanding ESPP as of February 15, 2022, employees have contributed $5 million to purchase shares for the current purchase period ending May 31, 2022. The following table shows a summary of employee purchase activity under the ESPP: Twelve Months Ended December 31, 2021 2020 2019 Total shares purchased by employees 289,945 366,442 393,230 Average purchase price $ 66.68 $ 45.17 $ 41.33

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT	12 Months Ended
	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT	The following table summarizes the changes in accumulated other comprehensive income (deficit) (in millions): Twelve Months Ended December 31, 2021 2020 Currency Translation Adjustment Beginning balance $ (220) $ (282) Net investment hedge amounts classified into AOCI, net of tax 9 11 (Loss) gain on foreign currency translation (68) 51 Other comprehensive (loss) income, net of tax (59) 62 Ending balance $ (279) $ (220) Pension and Other Postretirement Adjustment Beginning balance $ (372) $ (326) Amounts reclassified from AOCI to net earnings, net of tax (a) 5 3 Amounts classified into AOCI, net of tax (b) 49 (49) Other comprehensive income (loss), net of tax 54 (46) Ending balance $ (318) $ (372) Hedging Adjustment Beginning balance $ 4 $ (2) Amounts reclassified from AOCI to net earnings, net of tax (c) (11) 4 Amounts classified into AOCI, net of tax 23 2 Other comprehensive income, net of tax 12 6 Ending balance $ 16 $ 4 Total AOCI ending balance $ (581) $ (588) (a) These AOCI components are included in the computation of total Pension and Other Postretirement cost and are recorded in Non-operating (income) expense. See Notes 13 and 14 for additional information. (b) Amounts classified into AOCI, net of tax includes the impact of a pension plan remeasurement that occurred in the third quarter of 2021 related to the purchase and sale agreement for the Company's Insulation site in Santa Clara, California. See Note 11 for additional information. (c) Amounts reclassified from (loss) gain on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Cost of sales or Interest expense, net depending on the hedged item. See Note 4 for additional information.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings (loss) per-share (in millions, except per share amounts): Twelve Months Ended December 31, 2021 2020 2019 Net earnings (loss) attributable to Owens Corning $ 995 $ (383) $ 405 Weighted-average number of shares outstanding used for basic earnings (loss) per share 103.5 108.6 109.2 Non-vested restricted and performance shares 0.8 — 0.7 Options to purchase common stock — — 0.2 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings (loss) per share 104.3 108.6 110.1 Earnings (loss) per common share attributable to Owens Corning common stockholders: Basic $ 9.61 $ (3.53) $ 3.71 Diluted $ 9.54 $ (3.53) $ 3.68 Basic earnings (loss) per share is calculated by dividing earnings (loss) attributable to Owens Corning by the weighted-average number of shares of the Company’s common stock outstanding during the period. Outstanding shares consist of issued shares less treasury stock. On December 3, 2020, the Board of Directors approved a new 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 “2020 Repurchase Authorization"). The 2020 Repurchase Authorization enabled the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased depends on timing, market conditions and other factors and is at the Company’s discretion. The Company repurchased 6.1 million shares of its common stock for $557 million during the year ended December 31, 2021 under the Repurchase Authorization. As of December 31, 2021, 3.4 million shares remained available for repurchase under the 2020 Repurchase Authorization. On February 14, 2022, the Board of Directors approved a new 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 "2022 Repurchase Authorization). The 2022 Repurchase Authorization is in addition to the 2020 Repurchase Authorization (the 2020 Repurchase Authorization and collectively with the 2022 Repurchase Authorization, 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 will be at the Company's discretion. For the year ended December 31, 2021, the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested performance shares due to their anti-dilutive effect. For the year ended December 31, 2020, diluted earnings per share was equal to basic earnings per share due to the net loss attributable to Owens Corning. For the year ended December 31, 2019, the Company did not have any non-vested restricted shares or non-vested performance shares that had an anti-dilutive effect on earnings per share.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	The following table summarizes our Earnings (loss) before taxes and Income tax expense (in millions): Twelve Months Ended December 31, 2021 2020 2019 Earnings (loss) before taxes: United States $ 868 $ 8 $ 315 Foreign 445 (264) 275 Total $ 1,313 $ (256) $ 590 Income tax expense: Current United States $ 139 $ 4 $ (4) State and local 27 16 11 Foreign 90 30 60 Total current 256 50 67 Deferred United States 53 64 112 State and local (3) (1) 11 Foreign 13 16 (4) Total deferred 63 79 119 Total income tax expense $ 319 $ 129 $ 186 The reconciliation between the United States federal statutory rate and the Company’s effective income tax rate from continuing operations is: Twelve Months Ended December 31, 2021 2020 2019 United States federal statutory rate 21 % 21 % 21 % State and local income taxes, net of federal tax benefit 3 (9) 3 U.S. tax expense on foreign earnings — (5) 1 Legislative tax rate changes — 7 2 Foreign tax credits (1) 2 — Valuation allowance — (15) 3 Intercompany restructuring - intellectual property transfer — 14 — Goodwill impairment charge — (75) — Uncertain tax positions and settlements — 2 — Excess tax benefits related to stock compensation — 2 — Other, net 1 6 1 Effective tax rate 24 % (50) % 31 % In the first quarter of 2020, the company recorded non-cash impairment charges related to the impairment of goodwill and certain other indefinite-lived intangible assets which were largely non-deductible resulting in a substantial negative impact to our effective tax rate. In addition, non-cash charges were recorded in 2020 related to valuation allowance adjustments against certain deferred tax assets recorded in our French, Indian and Other foreign legal entities due to volatility in the markets we serve from the COVID-19 pandemic. In December 2020, the company completed an intercompany restructuring that resulted in the transfer of certain intellectual property rights, held by wholly owned foreign subsidiaries, to the U.S. The intellectual property rights transferred to the U.S. resulted in a step-up in the tax basis for U.S. tax purposes which resulted in the company recognizing a deferred tax asset of $37 million and tax expense of $5 million. The recognized tax benefit of $37 million is amortizable for U.S. tax purposes over a fifteen-year period. On July 20, 2020 the Internal Revenue Service (IRS) issued final regulations under IRC Section 951A permitting a taxpayer to elect to exclude, from its inclusion of global intangible low-taxed income (GILTI), income subject to a high foreign effective tax rate. As a result of the final regulations, the company recorded a net non-cash income tax benefit of $13 million in the third quarter of 2020 relating to the 2018 and 2019 tax years. On March 6, 2019, the U.S. Treasury and the IRS proposed regulations that provide guidance on determining the amount of a domestic corporation’s deduction for GILTI and foreign-derived intangible income (FDII) added by the U.S. Tax Cuts and Jobs Act of 2017 (the "Tax Act"). The proposed regulations provide special rules to determine the deduction amount, which adjusted the Company’s 2018 tax estimate and resulted in an increase to tax expense of $12 million for 2019. The Company continues to assert indefinite reinvestment in accordance with ASC 740 based on the laws as of enactment of the Tax Act. As of December 31, 2021, the Company has not provided for withholding or income taxes on approximately $1.5 billion of undistributed reserves of its foreign subsidiaries and affiliates as they are considered by management to be permanently reinvested. Quantification of the deferred tax liability associated with these undistributed reserves is not practicable. The cumulative temporary differences giving rise to the deferred tax assets and liabilities are as follows (in millions): December 31, 2021 December 31, 2020 Deferred Deferred Deferred Deferred Other employee benefits $ 66 $ — $ 71 $ — Pension plans 16 — 41 — Operating loss and tax credit carryforwards 132 — 170 — Depreciation — 300 — 259 Leases - right of use assets — 34 — 33 Leases - liabilities 36 — 33 — Amortization — 322 — 333 Foreign tax credits 54 — 49 — State and local taxes — — — — Other 139 — 90 — Subtotal 443 656 454 625 Valuation allowances (132) — (133) — Total deferred taxes $ 311 $ 656 $ 321 $ 625 The following table summarizes the amount and expiration dates of our deferred tax assets related to operating loss and credit carryforwards at December 31, 2021 (in millions) (a): Expiration Amounts Domestic loss and tax credit carryforwards 2022-2036 $ 104 Foreign loss and tax credit carryforwards (b) 2022 - Indefinite 82 Total operating loss and tax credit carryforwards $ 186 (a) The use of certain of the Company's losses and credits is limited pursuant to sections 382 and 383 of the Internal Revenue Code which are triggered when a change in control occurs and are computed based upon several variable factors including the share price of the Company's common stock on the date of the change in control. A change in control is generally defined as a cumulative change of more than 50% in the ownership positions of certain stockholders during a rolling three-year period. The Company believes that these limitations will not result in a forfeiture of the carryforwards. (b) The foreign net operating losses are related to various jurisdictions that provide for both indefinite carryforward periods and others with carryforward periods that range from the tax years 2022 to 2037. Deferred income taxes are provided for temporary differences between amounts of assets and liabilities for financial reporting purposes and the basis of such assets and liabilities as measured under enacted tax laws and regulations, as well as NOLs, tax credits and other carryforwards. A valuation allowance will be recorded to reduce deferred tax assets if, based on all available evidence, it is considered more likely than not that some portion or all of the recorded deferred tax assets will not be realized in future periods. To the extent the reversal of deferred tax liabilities is relied upon in our assessment of the realizability of deferred tax assets, they will reverse in the same period and jurisdiction as the temporary differences giving rise to the deferred tax assets. As of December 31, 2021, the Company had net deferred tax liabilities before valuation allowances of $213 million. The valuation allowance of $132 million as of December 31, 2021 is related to U.S. federal foreign tax credits (FTCs) and certain state and foreign jurisdictions. The realization of deferred tax assets depends on achieving a certain minimum level of future taxable income. Management currently believes that it is at least reasonably possible that the minimum level of taxable income will be met within the next 12 months to reduce the valuation allowance of certain foreign jurisdictions by a range of zero to $3 million. The valuation allowance of $133 million as of December 31, 2020 is related to U.S. federal FTC's and certain state and foreign jurisdictions. The Company, or one of its subsidiaries, files income tax returns in the United States and other foreign jurisdictions. The Company is no longer subject to U.S. federal tax examinations for years before 2017 or state and foreign examinations for years before 2010. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the gross unrecognized tax benefits balance may change within the next 12 months by a range of zero to $3 million. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in millions): Twelve Months Ended December 31, 2021 2020 2019 Balance at beginning of period $ 76 $ 79 $ 84 Tax positions related to the current year Gross additions — — — Tax positions related to prior years Gross additions 1 2 1 Gross reductions (1) (1) — Settlements (1) (1) (1) Expiration of statute of limitations (1) (3) (5) Impact of currency changes — — — Balance at end of period $ 74 $ 76 $ 79 If these uncertain tax benefits (UTBs) were to be recognized as of December 31, 2021, the Company’s income tax expense would decrease by about $54 million.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES	SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019 (in millions) Balance at Charged to Charged to Deductions Balance FOR THE YEAR ENDED DECEMBER 31, 2021 Allowance for doubtful accounts $ 10 $ 1 $ — $ (2) (a) $ 9 Tax valuation allowance $ 133 $ 11 $ 8 $ (20) $ 132 FOR THE YEAR ENDED DECEMBER 31, 2020 Allowance for doubtful accounts $ 11 $ 1 $ — $ (2) (a) $ 10 Tax valuation allowance $ 92 $ 39 $ 2 $ — $ 133 FOR THE YEAR ENDED DECEMBER 31, 2019 Allowance for doubtful accounts $ 16 $ 2 $ — $ (7) (a) $ 11 Tax valuation allowance $ 78 $ 19 $ 1 $ (6) $ 92 (a) Uncollectible accounts written off, net of recoveries.

BUSINESS AND SUMMARY OF SIGNI_2

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (POLICIES)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy	Basis of Presentation Unless the context requires otherwise, the terms “Owens Corning,” “Company,” “we” and “our” in these notes refer to Owens Corning and its subsidiaries. The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States.
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements of the Company include the accounts of majority-owned subsidiaries. Intercompany accounts and transactions are eliminated.
Reclassifications	ReclassificationsCertain reclassifications have been made to the 2020 and 2019 Consolidated Financial Statements and Notes to the Consolidated Financial Statements to conform to the classifications used in 2021.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.
Revenue Recognition	Revenue Recognition 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. Sales, value-added and other similar taxes that we collect are excluded from revenue. 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). Revenue Recognition (continued) 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 Total current 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 10. 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 $5 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 December 31, 2020, our contract liability balances (for extended warranties, down payments and deposits, collectively) totaled $66 million, of which $17 million was recognized as revenue throughout 2021. As of December 31, 2021, our contract liability balances totaled $76 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 Accounting Standards Codification (ASC) 606.
Cost of Sales	Cost of Sales Cost of sales includes material, labor, energy and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company’s products. Provisions for warranties are provided in the same period that the related sales are recorded and are based on historical experience, current conditions and contractual obligations, as applicable. Distribution costs include inbound freight costs; purchasing and receiving costs; inspection costs; warehousing costs; shipping and handling costs, which include costs incurred relating to preparing, packaging, and shipping products to customers; and other costs of the Company’s distribution network. We account for shipping and handling activities that occur after control of the related good transfers as fulfillment activities instead of performance obligations. All shipping and handling costs billed to the customer are included as net sales in the Consolidated Statements of Earnings (Loss).
Marketing and Administrative Expenses	Marketing and Advertising ExpensesMarketing and advertising expenses are included in Marketing and administrative expenses. These costs include advertising and marketing communications, which are expensed the first time the advertisement takes place.
Science and Technology Expenses	Science and Technology Expenses The Company incurs certain expenses related to science and technology. These expenses include salaries, building and equipment costs, utilities, administrative expenses, materials and supplies associated with the improvement and development of the Company’s products and manufacturing processes. These costs are expensed as incurred.
Earnings per Share	Earnings per Share Basic earnings (loss) per share are computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share reflect the dilutive effect of common equivalent shares and increased shares that would result from the conversion of equity securities. The effects of anti-dilution are not presented.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashThe Company defines cash and cash equivalents as cash and time deposits with maturities of three months or less when purchased.
Accounts Receivable	Accounts ReceivableTrade accounts receivable are recorded at the invoiced amount and do not bear interest. Consistent with the requirements of ASU 2016-13, "Financial Instruments - Credit Losses (Topic 236)," the allowance for credit losses is based on the Company’s assessment of the expected losses of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered.
Inventory Valuation	Inventory Valuation Inventory costs include material, labor, and manufacturing overhead costs, including depreciation and amortization expense associated with the manufacture and distribution of the Company’s products. Inventories are stated at lower of cost or net realizable value and expense estimates are made for excess and obsolete inventories. Cost is determined by the first-in, first-out (“FIFO”) method.
Investments in Affiliates	Investments in AffiliatesThe Company accounts for investments in affiliates of 20% to 50% ownership when the Company does not have a controlling financial interest using the equity method under which the Company’s share of earnings and losses of the affiliate is reflected in earnings, and dividends are credited against the investment in affiliate when declared.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill assets are not amortized but are tested for impairment on at least an annual basis. The Company has the option to use a qualitative approach to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value as a basis for determining whether it is necessary to perform a quantitative test. In the current year, as part of the annual assessment, the Company elected to use the qualitative approach for all of its reporting units. Events and circumstances we consider in performing the qualitative assessment include macro-economic conditions, market and industry conditions, internal cost factors, and the operational stability and the overall financial performance of the reporting units. When it is determined necessary for the Company to perform the quantitative testing process for goodwill, the Company estimates fair values using a discounted cash flow approach from the perspective of a market participant. Significant assumptions used in the discounted cash flow approach are revenue growth rates and earnings before interest and taxes ("EBIT") margins used in estimating discrete period cash flow forecasts of the reporting unit, the discount rate, and the long-term revenue growth rate and EBIT margins used in estimating the terminal business value. The cash flow forecasts of the reporting units are based upon management’s long-term view of our markets and are the forecasts that are used by senior management and the Board of Directors to evaluate operating performance. The discount rate utilized is management’s estimate of what the market’s weighted average cost of capital is for a company with a similar debt rating and stock volatility, as measured by beta. The terminal business value is determined by applying the long-term growth rate to the latest year for which a forecast exists. As part of our goodwill quantitative testing process, we would evaluate whether there are reasonably likely changes to management’s estimates that would have a material impact on the results of the goodwill impairment testing. Goodwill and Other Intangible Assets (continued) Other indefinite-lived intangible assets are not amortized but are tested for impairment on at least an annual basis or when determined to have a finite useful life. Substantially all of the indefinite-lived intangible assets are in trademarks and trade names. The Company uses the royalty relief approach to determine whether it is more likely than not that the fair value of these assets is less than its carrying amount. This review is performed annually, or when circumstances arise which indicate there may be impairment. When applying the royalty relief approach, the Company performs a discounted cash flow analysis based on the value derived from owning these trademarks and trade names and being relieved from paying royalty to third parties. Significant assumptions used include the discrete period revenue growth rates, royalty rates, discount rates, and terminal value. The inputs for the goodwill and indefinite-lived intangible tests are considered Level 3 inputs under the fair value hierarchy as they are the Company’s own data, and are unobservable in the marketplace. Indefinite-lived intangible assets purchased through acquisition are generally tested qualitatively for impairment in the first year following the acquisition before transitioning to the standard methodology described herein in subsequent years. Please refer to Note 5 for additional disclosures related to Goodwill and Other Intangible Assets. Emissions Rights
Properties and Depreciation	Properties and Depreciation Property, plant and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method. When assets are disposed or otherwise retired, Property, plant and equipment accounts are relieved of the cost and related accumulated depreciation and any gain or loss is included in the Consolidated Statements of Earnings (Loss). Precious metals used in our production tooling are included in property, plant and equipment and are depleted as they are consumed during the production process. Depletion typically represents an annual expense of less than 3% of the outstanding value and is recorded in Cost of sales on the Consolidated Statements of Earnings (Loss). The range of useful lives for the major components of the Company’s plant and equipment is as follows: Buildings and leasehold improvements 15 – 40 years Machinery and equipment Furnaces 4 – 15 years Information systems 5 – 10 years Equipment 5 – 20 years Expenditures for normal maintenance and repairs are expensed as incurred.
Asset Impairments	Asset Impairments The Company evaluates tangible and intangible long-lived assets for impairment when triggering events have occurred. This requires significant assumptions including projected cash flows, projected income tax rate and terminal business value. These inputs are considered Level 3 inputs under the fair value hierarchy as they are the Company’s own data, and are unobservable in the marketplace. Changes in management intentions, market conditions or operating performance could indicate that impairment charges might be necessary that could be material to the Company’s Consolidated Financial Statements in any given period. Please refer to Note 5 for additional detail on impairment charges recorded in 2020.
Income Taxes	Income Taxes The Company recognizes current tax liabilities and assets for the estimated taxes payable or refundable on the tax returns for the current year. Deferred tax balances reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis. Amounts are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. In addition, realization of certain deferred tax assets is dependent upon our ability to generate future taxable income. The Company records a valuation allowance to reduce its deferred tax assets to the amount that it believes is more likely than not to be realized. In addition, the Company estimates tax reserves to cover potential taxing authority claims for income taxes and interest attributable to audits of open tax years. Please refer to Note 19 for additional disclosures related to Income Taxes.
Taxes Collected From Customers and Remitted to Government Authorities and Taxes Paid to Vendors	Taxes Collected from Customers and Remitted to Government Authorities and Taxes Paid to Vendors Taxes are assessed by various governmental authorities at different rates on many different types of transactions. The Company charges sales tax or value-added tax (VAT) on sales to customers where applicable, as well as captures and claims back all available VAT that has been paid on purchases. VAT is recorded in separate payable or receivable accounts and does not affect revenue or cost of sales line items in the income statement. VAT receivable is recorded as a percentage of qualifying purchases at the time the vendor invoice is processed. VAT payable is recorded as a percentage of qualifying sales at the time an Owens Corning sale to a customer subject to VAT occurs. Amounts are paid to the taxing authority according to the method and collection prescribed by local regulations. Where applicable, VAT payable is netted against VAT receivable. The Company also pays sales tax to vendors who include a tax, required by government regulations, to the purchase price charged to the Company.
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits Accounting for pensions and other postretirement benefits involves estimating the cost of benefits to be provided well into the future and attributing that cost over the time period each employee works. To accomplish this, extensive use is made of assumptions about investment returns, discount rates, inflation, mortality, turnover and medical costs. Please refer to Notes 13 and 14 for additional disclosures related to Pension Plans and Other Postretirement Benefits, respectively.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivative instruments as either assets or liabilities at fair value on the balance sheet. Please refer to Note 4 for further disclosure on derivatives. 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 (Loss) 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 Operating activities in the Consolidated Statements of Cash Flows. 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 portions of the net investment in foreign subsidiaries against fluctuations in foreign exchange rates. 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 (Loss). Cash settlements for derivatives qualifying as net investment hedges are included in Investing activities in the Consolidated Statements of Cash Flows. Derivative Financial Instruments (continued) The Company uses forward currency exchange contracts to manage existing exposures to foreign exchange risk related to assets and liabilities recorded on the Consolidated Balance Sheets. Gains and losses resulting from the changes in fair value of these instruments are recorded in Other (income) expenses, net on the Consolidated Statements of Earnings (Loss), and are substantially offset by net revaluation impacts on foreign currency denominated balance sheet exposures (which are also recorded in Other (income) expenses, net). Cash settlements for non-designated derivatives are included in the Consolidated Statements of Cash Flows in the category that is consistent with the nature of the derivative instrument, which is generally the same category as the underlying item being hedged.
Fair Value Measurements	Fair Value Measurements The carrying value of cash and cash equivalents, accounts receivable and short-term debt approximate fair value because of the short-term maturity of the instruments.
Foreign Currency	Foreign CurrencyThe functional currency of the Company’s subsidiaries is generally the applicable local currency. Assets and liabilities of foreign subsidiaries are translated into United States Dollars at the period-end rate of exchange, and their Statements of Earnings (Loss) and Statements of Cash Flows are converted on an ongoing basis at the monthly average rate. The resulting translation adjustment is included in AOCI in the Consolidated Balance Sheets and Consolidated Statements of Stockholders’ Equity. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are recorded in Other (income) expenses, net in the Consolidated Statements of Earnings (Loss) as incurred.
Accounting Pronouncements	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 2019-12 "Income Taxes (Topic 740)" This standard simplifies accounting for income taxes including such topics as intraperiod tax allocations, franchise taxes and separate company financial statements. January 1, 2021 We adopted this standard in the first quarter of 2021. The adoption of this standard did not have a material impact on our Consolidated Financial Statements. Please refer to the Income Taxes paragraph above in Note 1 of the Consolidated Financial Statements for additional detail on our accounting policy. ASU 2017-04 "Intangibles - Goodwill and Other (Topic 350)" This standard simplifies the test for goodwill impairment by eliminating Step 2 of the impairment test. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Entities will adopt the standard using a prospective approach. January 1, 2020 We adopted this standard using the prospective approach for our interim impairment test conducted in the first quarter of 2020. The goodwill impairment charge of $944 million recorded for the year ended December 31, 2020, was calculated in accordance with this standard. Please refer to Note 5 of the Consolidated Financial Statements for additional detail on this adoption. Recently issued standards: ASU 2021-10 "Government Assistance (Topic 832)" This standard modifies the annual disclosure requirements for business entities that receive government assistance and use a grant or contribution accounting model by analogy to other account guidance. January 1, 2022 We are currently assessing the impact adopting this standard will have on our Consolidated Financial Statements.

BUSINESS AND SUMMARY OF SIGNI_3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (TABLE)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Property, Plant and Equipment	The range of useful lives for the major components of the Company’s plant and equipment is as follows: Buildings and leasehold improvements 15 – 40 years Machinery and equipment Furnaces 4 – 15 years Information systems 5 – 10 years Equipment 5 – 20 years Property, plant and equipment consist of the following (in millions): December 31, 2021 2020 Land $ 219 $ 222 Buildings and leasehold improvements 1,265 1,241 Machinery and equipment 5,343 5,155 Construction in progress 387 292 7,214 6,910 Accumulated depreciation (3,341) (3,101) Property, plant and equipment, net $ 3,873 $ 3,809

SEGMENT INFORMATION (TABLE)

SEGMENT INFORMATION (TABLE)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables show a disaggregation of 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. Twelve Months Ended December 31, 2021 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 312 $ 1,194 $ 2,958 $ (230) $ 4,234 U.S. commercial and industrial 637 705 120 — 1,462 Total United States 949 1,899 3,078 (230) 5,696 Europe 653 718 19 (6) 1,384 Asia-Pacific 552 187 7 — 746 Rest of world 187 380 105 — 672 NET SALES $ 2,341 $ 3,184 $ 3,209 $ (236) $ 8,498 Twelve Months Ended December 31, 2020 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 272 $ 949 $ 2,450 $ (204) $ 3,467 U.S. commercial and industrial 538 603 133 — 1,274 Total United States 810 1,552 2,583 (204) 4,741 Europe 524 609 14 (1) 1,146 Asia-Pacific 495 158 11 — 664 Rest of world 131 288 87 (2) 504 NET SALES $ 1,960 $ 2,607 $ 2,695 $ (207) $ 7,055 Twelve Months Ended December 31, 2019 Reportable Segments Composites Insulation Roofing Eliminations Consolidated Disaggregation Categories U.S. residential $ 269 $ 927 $ 2,375 $ (195) $ 3,376 U.S. commercial and industrial 614 643 143 — 1,400 Total United States 883 1,570 2,518 (195) 4,776 Europe 572 625 13 (1) 1,209 Asia-Pacific 475 176 13 — 664 Rest of world 129 297 90 (5) 511 NET SALES $ 2,059 $ 2,668 $ 2,634 $ (201) $ 7,160
Schedule of Earnings before Interest and Taxes	The following table summarizes EBIT by segment (in millions): Twelve Months Ended December 31, 2021 2020 2019 Reportable Segments Composites $ 376 $ 165 $ 247 Insulation 446 250 230 Roofing 753 591 455 Total reportable segments 1,575 1,006 932 Restructuring costs (34) (41) (28) Gain on sale of land in India 15 — — Gains on sale of certain precious metals 53 26 — Goodwill impairment charge — (944) — Intangible assets impairment charge — (43) — Recognition of acquisition inventory fair value step-up (1) — — Pension settlement losses — — (43) Environmental liability charges — — (4) General corporate expense and other (160) (128) (104) Total Corporate, other and eliminations (127) (1,130) (179) EBIT $ 1,448 $ (124) $ 753
Reconciliation of Assets from Segment to Consolidated	The following table summarizes total assets by segment and property, plant and equipment by geographic region (in millions): December 31, TOTAL ASSETS 2021 2020 Reportable Segments Composites $ 2,599 $ 2,426 Insulation 3,937 3,937 Roofing 1,884 1,814 Total reportable segments 8,420 8,177 Cash and cash equivalents 959 717 Noncurrent deferred income taxes 31 28 Investments in affiliates 45 51 Assets held for sale 1 5 Corporate property, plant and equipment, other assets and eliminations 559 503 CONSOLIDATED TOTAL ASSETS $ 10,015 $ 9,481
Schedule of Property, Plant and Equipment by Geographical Areas	December 31, PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION 2021 2020 United States $ 2,262 $ 2,169 Europe 742 777 Asia-Pacific 608 594 Rest of world 261 269 TOTAL PROPERTY, PLANT AND EQUIPMENT $ 3,873 $ 3,809
Schedule of Depreciation and Amortization by Segment	The following table summarizes the provision for depreciation and amortization by segment (in millions): Twelve Months Ended December 31, 2021 2020 2019 Reportable Segments Composites $ 162 $ 159 $ 154 Insulation 208 201 194 Roofing 59 59 54 Total reportable segments 429 419 402 General corporate depreciation and amortization (a) 73 74 55 CONSOLIDATED PROVISION FOR DEPRECIATION AND AMORTIZATION $ 502 $ 493 $ 457 (a) In 2021, 2020 and 2019, General corporate depreciation and amortization expense included $13 million, $20 million and $9 million, respectively, of accelerated depreciation related to restructuring actions further explained in Note 11 to the Consolidated Financial Statements.
Schedule of Additions to Property, Plant and Equipment by Segment	The following table summarizes additions to property, plant and equipment on an accrual basis by segment (in millions): Twelve Months Ended December 31, 2021 2020 2019 Reportable Segments Composites $ 146 $ 105 $ 123 Insulation 198 132 210 Roofing 57 46 56 Total reportable segments 401 283 389 General corporate additions 67 37 62 CONSOLIDATED ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT $ 468 $ 320 $ 451

INVENTORIES (TABLE)

INVENTORIES (TABLE)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consist of the following (in millions): December 31, 2021 2020 Finished goods $ 672 $ 532 Materials and supplies 406 323 Total inventories $ 1,078 $ 855

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (TABLE)	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 December 31, 2020 Derivative assets designated as hedging instruments: Net investment hedges: Cross currency swaps Other current assets $ 5 $ 5 Cross currency swaps Other non-current assets $ 1 $ — Cash flow hedges: Natural gas forward swaps Other current assets $ 16 $ 2 Treasury interest rate lock Other current assets $ 11 $ — Treasury interest rate lock Other non-current assets $ — $ 4 Derivative liabilities designated as hedging instruments: Net investment hedges: Cross-currency swaps Other liabilities $ 1 $ 11 Cash flow hedges: Natural gas forward swaps Other current liabilities $ 5 $ — Foreign exchange forward contracts Other current liabilities $ 2 $ — Derivative assets not designated as hedging instruments: Foreign exchange forward contracts Other current assets $ 1 $ 2 Derivative liabilities not designated as hedging instruments: Foreign exchange forward contracts Other current liabilities $ 6 $ 45
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 (Loss) (in millions): Twelve Months Ended Location 2021 2020 2019 Derivative activity designated as hedging instruments: Natural gas cash flow hedges: Amount of (gain) loss reclassified from AOCI (as defined below) into earnings (a) Cost of sales $ (15) $ 5 $ 4 Cross-currency swap net investment hedges: Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing Interest expense, net $ (5) $ (8) $ (13) Derivative activity not designated as hedging instruments: Foreign currency: Amount of (gain) loss recognized in earnings (b) Other (income) expenses, net $ (41) $ 41 $ (35) (a) Accumulated Other Comprehensive Earnings (Deficit) ("AOCI") The following table presents the impact of derivative activities on the Consolidated Statements of Comprehensive Earnings (Loss) (in millions): Amount of (Gain) Loss Recognized in Comprehensive Earnings (Loss) Twelve Months Ended December 31, Hedging Type Derivative Financial Instrument 2021 2020 Net investment hedge Cross-currency swaps $ (12) $ (15) Cash flow hedge Natural gas forward swaps $ (10) $ (5) Cash flow hedge Treasury interest rate lock $ (7) $ (4) Cash flow hedge Foreign exchange forward contracts $ 2 $ —

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (TABLE)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the net carrying amount of goodwill by segment are as follows (in millions): Composites Insulation Roofing Total Gross carrying amount at December 31, 2020 $ 57 $ 1,519 $ 400 $ 1,976 Acquisitions (see Note 7) 16 — — 16 Additions 3 — — 3 Foreign currency translation (1) (38) (3) (42) Gross carrying amount at December 31, 2021 75 1,481 397 1,953 Accumulated impairment losses at December 31, 2020 — (987) — (987) Foreign currency translation — 24 — 24 Accumulated impairment losses at December 31, 2021 — (963) — (963) Balance, net of impairment at December 31, 2021 $ 75 $ 518 $ 397 $ 990 Composites Insulation Roofing Total Gross carrying amount at December 31, 2019 $ 57 $ 1,479 $ 396 $ 1,932 Divestiture — (4) — (4) Foreign currency translation — 44 4 48 Gross carrying amount at December 31, 2020 57 1,519 400 1,976 Accumulated impairment losses at December 31, 2019 — — — — Impairment charge — (944) — (944) Foreign currency translation — (43) — (43) Accumulated impairment losses at December 31, 2020 — (987) — (987) Balance, net of impairment at December 31, 2020 $ 57 $ 532 $ 400 $ 989 The annual tests performed in the fourth quarter of 2021 and 2020 resulted in no impairment of goodwill. In the first quarter of 2020, the Company performed its ongoing assessment to consider whether events or circumstances had occurred that could more likely than not reduce the fair value of a reporting unit below its carrying value. The Company’s significant share price reduction during the onset of the COVID-19 pandemic was determined to be an indicator of impairment under ASC 350. The valuation limitation from the Company’s share price decline, the narrow cushion on the Insulation reporting unit and the high level of near-term macroeconomic uncertainty caused the Company to perform an interim goodwill impairment test as of March 31, 2020 over the Insulation reporting unit. As part of our quantitative testing process for goodwill of the Insulation reporting unit, we estimated fair values using a discounted cash flow analysis, a form of the income approach, from the perspective of a market participant. Significant assumptions used in the discounted cash flow approach are revenue growth rates and EBIT margins used in estimating discrete period cash flow forecasts of the reporting unit, the discount rate, and the long-term revenue growth rate and EBIT margins used in estimating the terminal business value. The terminal business value is determined by applying the long-term growth rate to the latest year for which a forecast exists. Based on the results of this interim testing over the Insulation reporting unit, the Company recorded a $944 million pre-tax non-cash impairment charge in the first quarter of 2020. This charge was recorded in Goodwill impairment charge on the Consolidated Statements of Earnings (Loss), and was included in the Corporate, Other and Eliminations reporting category. Consistent with the Company’s adoption of ASU 2017-04 in the first quarter of 2020, the impairment charge was equal to the excess of the Insulation reporting unit’s carrying value over its fair value. The reduction in fair value for the Insulation reporting unit, and corresponding impairment charge, was primarily driven by an increase in the discount rate arising from higher equity risk premiums that reflected significant uncertainty surrounding the effect from the COVID-19 pandemic and a decrease in the reporting unit's forecasted near-term cash flows.
Schedule of Finite-Lived Intangible Assets	December 31, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Accumulated Net Trademarks and trade names $ 1,096 $ — $ 1,096 $ 1,109 $ — $ 1,109 Customer relationships 559 (218) 341 570 (200) 370 Technology 298 (168) 130 327 (172) 155 Other (a) 53 (3) 50 36 (3) 33 Total other intangible assets $ 2,006 $ (389) $ 1,617 $ 2,042 $ (375) $ 1,667
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated amortization expense for intangible assets for the next five years is as follows (in millions): Period Amortization 2022 $ 45 2023 $ 41 2024 $ 38 2025 $ 38 2026 $ 36

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (TABLE)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The range of useful lives for the major components of the Company’s plant and equipment is as follows: Buildings and leasehold improvements 15 – 40 years Machinery and equipment Furnaces 4 – 15 years Information systems 5 – 10 years Equipment 5 – 20 years Property, plant and equipment consist of the following (in millions): December 31, 2021 2020 Land $ 219 $ 222 Buildings and leasehold improvements 1,265 1,241 Machinery and equipment 5,343 5,155 Construction in progress 387 292 7,214 6,910 Accumulated depreciation (3,341) (3,101) Property, plant and equipment, net $ 3,873 $ 3,809

LEASES (TABLE)

LEASES (TABLE)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Lease-Related Assets and Liabilities	The table below presents the lease-related assets and liabilities recorded on the balance sheet (in millions): December 31, Leases Classification on Balance Sheet 2021 2020 Assets Operating lease assets Operating lease right-of-use assets $ 158 $ 154 Finance lease assets Other non-current assets 95 73 Total lease assets $ 253 $ 227 Liabilities Current Operating Current operating lease liabilities $ 49 $ 55 Finance Other current liabilities 25 19 Non-Current Operating Non-current operating lease liabilities 109 99 Finance Long-term debt, net of current portion 74 59 Total lease liabilities $ 257 $ 232
Lease, Cost	The table below presents lease-related costs (in millions): Twelve Months Ended December 31, 2021 2020 2019 Operating lease cost $ 69 $ 71 $ 81 Finance lease cost Amortization $ 23 $ 16 $ 5 Interest $ 4 $ 3 $ 2 Short-term lease cost $ 7 $ 11 $ 10 Variable lease cost $ 5 $ 5 $ 6
Supplemental Information Related to Leases	Other Information The tables below present supplemental information related to leases: December 31, Weighted-average remaining lease term (years) 2021 2020 2019 Operating leases 4.2 3.8 4.0 Finance leases 6.9 6.8 3.9 December 31, Weighted-average discount rate 2021 2020 2019 Operating leases 3.27 % 3.29 % 3.30 % Finance leases 3.67 % 4.04 % 6.29 %
Finance Lease, Liability, Maturity	The table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 31, 2021 (in millions): Period Operating Leases Finance Leases 2022 $ 55 $ 29 2023 44 23 2024 27 16 2025 19 10 2026 12 7 2027 and beyond 17 31 Total minimum lease payments 174 116 Less: implied interest 16 17 Present value of future minimum lease payments 158 99 Less: current lease obligations 49 25 Long-term lease obligations $ 109 $ 74
Lessee, Operating Lease, Liability, Maturity	The table below reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheet as of December 31, 2021 (in millions): Period Operating Leases Finance Leases 2022 $ 55 $ 29 2023 44 23 2024 27 16 2025 19 10 2026 12 7 2027 and beyond 17 31 Total minimum lease payments 174 116 Less: implied interest 16 17 Present value of future minimum lease payments 158 99 Less: current lease obligations 49 25 Long-term lease obligations $ 109 $ 74

OTHER CURRENT LIABILITIES (TABL

OTHER CURRENT LIABILITIES (TABLE)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	urrent liabilities consist of the following current portions of these liabilities (in millions): December 31, 2021 2020 Payroll, vacation pay and incentive compensation $ 232 $ 197 Income, property, and other non-payroll taxes 70 61 Other 251 252 Total other current liabilities $ 553 $ 510

WARRANTIES (TABLE)

WARRANTIES (TABLE)	12 Months Ended
	Dec. 31, 2021
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	A reconciliation of the warranty liability is as follows (in millions): December 31, 2021 2020 Beginning balance $ 72 $ 64 Amounts accrued for current year 21 21 Settlements of warranty claims (12) (13) Ending balance $ 81 $ 72

RESTRUCTURING AND ACQUISITION_2

RESTRUCTURING AND ACQUISITION-RELATED COSTS (TABLE)	12 Months Ended
	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	The following table presents the impact and respective location of total restructuring costs on the Consolidated Statements of Earnings (Loss), which are included in our Corporate, Other and Eliminations category (in millions): Twelve Months Ended December 31, Type of Cost Location 2021 2020 2019 Accelerated depreciation Cost of sales $ 13 $ 20 $ 9 Other exit costs Cost of sales 1 6 6 Other exit costs Marketing and administrative expenses 2 — — Severance Other (income) expenses, net 11 13 13 Other exit (gains) costs (a) Other (income) expenses, net (10) 2 (1) Other exit costs Non-operating (income) expense 2 — 1 Total restructuring costs $ 19 $ 41 $ 28
Cost Reductions Actions 2014
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes the status of the unpaid liabilities from the Company’s restructuring activities (in millions): Roofing Components Restructuring Actions Santa Clara Insulation Site 2020 Insulation Restructuring Actions 2020 Composites Restructuring Actions Acquisition-Related Restructuring Balance at December 31, 2020 $ — $ — $ 2 $ 2 $ 9 Restructuring costs (gains) 5 25 4 (1) (2) Payments — — (2) (1) (3) Accelerated depreciation and other non-cash items (4) (12) (3) — 1 Balance at December 31, 2021 $ 1 $ 13 $ 1 $ — $ 5 Cumulative charges incurred $ 5 $ 25 $ 27 $ 12 $ 27

DEBT (TABLE)

DEBT (TABLE)	12 Months Ended
	Dec. 31, 2021
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): December 31, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value 4.200% senior notes, net of discount and financing fees, due 2022 $ — — $ 184 106 % 4.200% senior notes, net of discount and financing fees, due 2024 397 107 % 396 111 % 3.400% senior notes, net of discount and financing fees, due 2026 397 106 % 397 111 % 3.950% senior notes, net of discount and financing fees, due 2029 446 110 % 445 115 % 3.875% senior notes, net of discount and financing fees, due 2030 297 109 % 297 115 % 7.000% senior notes, net of discount and financing fees, due 2036 368 141 % 368 142 % 4.300% senior notes, net of discount and financing fees, due 2047 589 115 % 588 120 % 4.400% senior notes, net of discount and financing fees, due 2048 390 118 % 390 121 % Various finance leases, due through 2036 (a) 99 100 % 78 100 % Other 2 n/a 2 n/a Total long-term debt 2,985 n/a 3,145 n/a Less – current portion (a) 25 100 % 19 100 % Long-term debt, net of current portion $ 2,960 n/a $ 3,126 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 December 31, 2021 Senior Revolving Credit Facility Receivables Securitization Facility Facility size $ 800 $ 280 Collateral capacity limitation on availability n/a — Outstanding borrowings — — Outstanding letters of credit 4 1 Availability on facility $ 796 $ 279
Schedule of Maturities of Long-term Debt	The aggregate maturities for all outstanding long-term debt borrowings for each of the five years following December 31, 2021 and thereafter are presented in the table below (in millions). The maturities below are the aggregate par amounts of the outstanding senior notes and finance lease liabilities: Period Maturities 2022 $ 25 2023 20 2024 414 2025 8 2026 406 2027 and beyond 2,152 Total $ 3,025

PENSION PLANS (TABLE)

PENSION PLANS (TABLE)	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Changes in Projected Benefit Obligations	The following tables provide a reconciliation of the change in the projected benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 910 $ 523 $ 1,433 $ 866 $ 475 $ 1,341 Service cost 5 6 11 5 5 10 Interest cost 22 9 31 28 10 38 Actuarial (gain) loss (31) (28) (59) 83 28 111 Currency (gain) loss — (10) (10) — 18 18 Benefits paid (67) (19) (86) (71) (16) (87) Plan amendments — (1) (1) — 3 3 Settlements/curtailments — (4) (4) (1) (4) (5) Other 2 — 2 — 4 4 Benefit obligation at end of period $ 841 $ 476 $ 1,317 $ 910 $ 523 $ 1,433
Schedule of Changes in Fair Value of Plan Assets	December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Plan Assets Fair value of assets at beginning of period $ 842 $ 441 $ 1,283 $ 733 $ 386 $ 1,119 Actual return on plan assets 41 12 53 80 37 117 Currency gain (loss) — (8) (8) — 14 14 Company contributions — 21 21 101 21 122 Benefits paid (67) (19) (86) (71) (16) (87) Settlements/curtailments — (4) (4) (1) (4) (5) Other — — — — 3 3 Fair value of assets at end of period $ 816 $ 443 $ 1,259 $ 842 $ 441 $ 1,283 Funded status $ (25) $ (33) $ (58) $ (68) $ (82) $ (150)
Schedule of Amounts Recognized in Balance Sheet	December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Amounts Recognized in the Consolidated Balance Sheets Prepaid pension cost $ — $ 21 $ 21 $ — $ 12 $ 12 Accrued pension cost – current — (2) (2) — (2) (2) Accrued pension cost – non-current (25) (52) (77) (68) (92) (160) Net amount recognized $ (25) $ (33) $ (58) $ (68) $ (82) $ (150)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Amounts Recorded in AOCI Net actuarial loss $ (333) $ (81) $ (414) $ (381) $ (109) $ (490)
Schedule of Assumptions Used to Determine Benefit Obligations	The following table presents weighted average assumptions used to determine benefit obligations at the measurement dates: December 31, 2021 2020 United States Plans Discount rate 2.85 % 2.50 % Expected return on plan assets 4.75 % 4.75 % Cash balance interest crediting rate 1.26 % 0.79 % Non-United States Plans Discount rate 2.35 % 1.73 % Expected return on plan assets 3.93 % 4.08 % Rate of compensation increase 3.31 % 3.00 %
Schedule of Allocation of Plan Assets	The following table summarizes the fair values and applicable fair value hierarchy levels of United States pension plan assets (in millions): December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 56 $ — $ — $ 56 Fixed income and cash equivalents: Corporate bonds 35 328 — 363 Government debt — 78 — 78 Total United States plan assets subject to leveling $ 91 $ 406 $ — 497 Plan assets measured at NAV: Equities 144 Fixed income and cash equivalents 125 Absolute return strategies 50 Total United States plan assets $ 816 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 53 $ — $ — $ 53 Fixed income and cash equivalents: Corporate bonds 31 288 — 319 Government debt — 68 — 68 Total United States plan assets subject to leveling $ 84 $ 356 $ — 440 Plan assets measured at NAV: Equities 193 Fixed income and cash equivalents 157 Absolute return strategies 52 Total United States plan assets $ 842 The following table summarizes the fair values and applicable fair value hierarchy levels of non-United States pension plan assets (in millions): December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Cash and cash equivalents — 72 — 72 Fixed income — 10 — 10 Total non-United States plan assets subject to leveling $ — $ 84 $ — 84 Plan assets measured at NAV: Equities 61 Fixed income and cash equivalents 202 Absolute return strategies and other 96 Total non-United States plan assets $ 443 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Fixed income and cash equivalents: Cash and cash equivalents — 81 — 81 Corporate bonds — 9 — 9 Total non-United States plan assets subject to leveling $ — $ 92 $ — 92 Plan assets measured at NAV: Equities 86 Fixed income and cash equivalents 156 Absolute return strategies 107 Total non-United States plan assets $ 441
Pension Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	The following table presents information about the projected benefit obligation, accumulated benefit obligation (ABO) and plan assets of the Company’s pension plans (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Plans with PBO in excess of fair value of plan assets: Projected benefit obligation $ 841 $ 328 $ 1,169 $ 910 $ 364 $ 1,274 Fair value of plan assets $ 816 $ 275 $ 1,091 $ 842 $ 270 $ 1,112 Plans with ABO in excess of fair value of plan assets: Accumulated benefit obligation $ 841 $ 300 $ 1,141 $ 910 $ 330 $ 1,240 Fair value of plan assets $ 816 $ 257 $ 1,073 $ 842 $ 249 $ 1,091
Schedule of Net Benefit Costs	The following table presents the components of net periodic pension cost (income) (in millions): Twelve Months Ended December 31, 2021 2020 2019 Service cost $ 11 $ 10 $ 10 Interest cost 31 38 47 Expected return on plan assets (54) (62) (68) Amortization of actuarial loss 16 15 15 Settlement/curtailment — 1 44 Other 2 — — Net periodic pension cost $ 6 $ 2 $ 48
Schedule of Assumptions Used to Determine Net Benefit Cost	The following table presents weighted-average assumptions used to determine net periodic pension costs for the periods noted: Twelve Months Ended December 31, 2021 2020 2019 United States Plans Discount rate 2.50 % 3.30 % 4.25 % Expected return on plan assets 4.75 % 6.50 % 6.75 % Cash balance interest crediting rate 0.79 % 2.66 % 3.77 % Rate of compensation increase N/A (a) N/A (a) N/A (a) Non-United States Plans Discount rate 1.73 % 2.24 % 3.04 % Expected return on plan assets 4.08 % 4.66 % 4.91 % Rate of compensation increase 3.00 % 3.99 % 4.14 % (a) Not applicable due to changes in plan made on August 1, 2009 that were effective beginning January 1, 2010.
Schedule of Expected Benefit Payments	The following table shows estimated future benefit payments from the Company’s pension plans (in millions): Year Estimated Benefit Payments 2022 $ 85 2023 $ 82 2024 $ 79 2025 $ 76 2026 $ 78 2027-2031 $ 367
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Allocation of Plan Assets	December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities: Domestic $ 56 $ — $ — $ 56 Fixed income and cash equivalents: Corporate bonds 35 328 — 363 Government debt — 78 — 78 Total United States plan assets subject to leveling $ 91 $ 406 $ — 497 Plan assets measured at NAV: Equities 144 Fixed income and cash equivalents 125 Absolute return strategies 50 Total United States plan assets $ 816
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Allocation of Plan Assets	December 31, 2021 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Cash and cash equivalents — 72 — 72 Fixed income — 10 — 10 Total non-United States plan assets subject to leveling $ — $ 84 $ — 84 Plan assets measured at NAV: Equities 61 Fixed income and cash equivalents 202 Absolute return strategies and other 96 Total non-United States plan assets $ 443 December 31, 2020 Asset Category Level 1 Level 2 Level 3 Total Equities $ — $ 2 $ — $ 2 Fixed income and cash equivalents: Cash and cash equivalents — 81 — 81 Corporate bonds — 9 — 9 Total non-United States plan assets subject to leveling $ — $ 92 $ — 92 Plan assets measured at NAV: Equities 86 Fixed income and cash equivalents 156 Absolute return strategies 107 Total non-United States plan assets $ 441

POSTEMPLOYMENT AND POSTRETIRE_2

POSTEMPLOYMENT AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (TABLE)	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Changes in Projected Benefit Obligations	The following tables provide a reconciliation of the change in the projected benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheets (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 910 $ 523 $ 1,433 $ 866 $ 475 $ 1,341 Service cost 5 6 11 5 5 10 Interest cost 22 9 31 28 10 38 Actuarial (gain) loss (31) (28) (59) 83 28 111 Currency (gain) loss — (10) (10) — 18 18 Benefits paid (67) (19) (86) (71) (16) (87) Plan amendments — (1) (1) — 3 3 Settlements/curtailments — (4) (4) (1) (4) (5) Other 2 — 2 — 4 4 Benefit obligation at end of period $ 841 $ 476 $ 1,317 $ 910 $ 523 $ 1,433
Schedule of Amounts Recognized in Balance Sheet	December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Amounts Recognized in the Consolidated Balance Sheets Prepaid pension cost $ — $ 21 $ 21 $ — $ 12 $ 12 Accrued pension cost – current — (2) (2) — (2) (2) Accrued pension cost – non-current (25) (52) (77) (68) (92) (160) Net amount recognized $ (25) $ (33) $ (58) $ (68) $ (82) $ (150)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Amounts Recorded in AOCI Net actuarial loss $ (333) $ (81) $ (414) $ (381) $ (109) $ (490)
Schedule of Accumulated Postretirement Benefit Obligation and Plan Assets	The following table presents information about the accumulated postretirement benefit obligation (APBO) and plan assets of the Company's postretirement benefit plans (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Plans with APBO in excess of fair value of plan assets: Accumulated postretirement benefit obligation $ 151 $ 13 $ 164 $ 163 $ 14 $ 177 Fair value of plan assets $ — $ — $ — $ — $ — $ —
Schedule of Assumptions Used to Determine Benefit Obligations	The following table presents weighted average assumptions used to determine benefit obligations at the measurement dates: December 31, 2021 2020 United States Plans Discount rate 2.85 % 2.50 % Expected return on plan assets 4.75 % 4.75 % Cash balance interest crediting rate 1.26 % 0.79 % Non-United States Plans Discount rate 2.35 % 1.73 % Expected return on plan assets 3.93 % 4.08 % Rate of compensation increase 3.31 % 3.00 %
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Changes in Projected Benefit Obligations	The following table provides a reconciliation of the change in the projected benefit obligation and the net amount recognized in the Consolidated Balance Sheets for the years ended December 31, 2021 and 2020 (in millions): December 31, 2021 December 31, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Change in Projected Benefit Obligation Benefit obligation at beginning of period $ 163 $ 14 $ 177 $ 169 $ 14 $ 183 Service cost 1 — 1 1 — 1 Interest cost 3 1 4 5 1 6 Actuarial (gain) loss (4) (1) (5) — 1 1 Currency gain — — — — (1) (1) Benefits paid (12) (1) (13) (12) (1) (13) Benefit obligation at end of period $ 151 $ 13 $ 164 $ 163 $ 14 $ 177 Funded status $ (151) $ (13) $ (164) $ (163) $ (14) $ (177)
Schedule of Amounts Recognized in Balance Sheet	Amounts Recognized in the Consolidated Balance Sheets Accrued benefit obligation – current $ (13) $ (1) $ (14) $ (13) $ (1) $ (14) Accrued benefit obligation – non-current (138) (12) (150) (150) (13) (163) Net amount recognized $ (151) $ (13) $ (164) $ (163) $ (14) $ (177)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Amounts Recorded in AOCI Net actuarial gain $ 37 $ 3 $ 40 $ 41 $ 2 $ 43 Net prior service credit 1 — 1 2 — 2 Net amount recognized $ 38 $ 3 $ 41 $ 43 $ 2 $ 45
Schedule of Assumptions Used to Determine Benefit Obligations	The following table presents the discount rates used to determine the benefit obligations: December 31, 2021 2020 United States plans 2.70 % 2.25 % Non-United States plans 3.63 % 3.04 %
Schedule of Net Benefit Costs	The following table presents the components of net periodic postretirement benefit cost (income) (in millions): Twelve Months Ended December 31, 2021 2020 2019 Service cost $ 1 $ 1 $ 1 Interest cost 4 6 8 Amortization of prior service credit (1) (4) (4) Amortization of actuarial gain (8) (8) (8) Net periodic postretirement benefit income $ (4) $ (5) $ (3)
Schedule of Assumptions Used to Determine Net Benefit Cost	The following table presents the discount rates used to determine net periodic postretirement benefit cost: Twelve Months Ended December 31, 2021 2020 2019 United States plans 2.25 % 3.10 % 4.15 % Non-United States plans 3.04 % 3.84 % 4.59 %
Schedule of Health Care Cost Trend Rates	The following table presents health care cost trend rates used to determine net periodic postretirement benefit cost, as well as information regarding the ultimate rate and the year in which the ultimate rate is reached: Twelve Months Ended December 31, 2021 2020 2019 United States plans: Initial rate at end of year 8.10 % 8.20 % 6.50 % Ultimate rate 4.50 % 4.50 % 5.00 % Year in which ultimate rate is reached 2029 2029 2026 Non-United States plans: Initial rate at end of year 4.25 % 4.10 % 5.45 % Ultimate rate 3.87 % 3.90 % 5.45 % Year in which ultimate rate is reached 2040 2040 2019
Schedule of Expected Benefit Payments	The following table shows estimated future benefit payments from the Company’s postretirement benefit plans (in millions): Year Estimated Benefit Payments 2022 $ 14 2023 $ 13 2024 $ 13 2025 $ 12 2026 $ 12 2027-2031 $ 53

STOCK COMPENSATION (TABLE)

STOCK COMPENSATION (TABLE)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Expense	Stock-based compensation expense included in Marketing and administrative expenses in the accompanying Consolidated Statements of Earnings (Loss) is as follows (in millions): Twelve Months Ended December 31, 2021 2020 2019 Total stock-based compensation expense $ 50 $ 41 $ 39 Income tax benefit recognized on stock-based compensation expense $ 14 $ 14 $ 7
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the Company’s stock option activity in 2021: Weighted-Average Number of Options Exercise Price Remaining Intrinsic Value (in millions) Outstanding, December 31, 2020 361,775 $ 37.77 1.50 $ 14 Exercised (305,875) 37.49 Outstanding, December 31, 2021 55,900 $ 39.34 1.71 $ 3 Exercisable, December 31, 2021 55,900 $ 39.34 1.71 $ 3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable	The total intrinsic value of stock options exercised and the resulting tax benefits received were as follows (in millions): Twelve Months Ended December 31, 2021 2020 2019 Cash received upon exercise of stock option awards $ 11 $ 2 $ 2 Income tax benefit received for stock option awards exercised $ 4 $ — $ —
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table shows a summary of the Company’s RSU plans: Number of Weighted- Balance at January 1, 2021 1,419,454 $ 54.99 Granted 370,172 84.03 Vested (465,990) 54.44 Forfeited (54,643) 66.61 Balance at December 31, 2021 1,268,993 $ 62.25
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest	The following table shows a summary of the Company's PSU plans: Number of Weighted- Average Grant Date Fair Value Balance as of January 1, 2021 323,361 $ 61.78 Granted 153,858 85.81 Vested (143,218) 58.44 Forfeited (24,030) 66.32 Balance as of December 31, 2021 309,971 $ 74.78
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity	The following table shows a summary of employee purchase activity under the ESPP: Twelve Months Ended December 31, 2021 2020 2019 Total shares purchased by employees 289,945 366,442 393,230 Average purchase price $ 66.68 $ 45.17 $ 41.33

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT (TABLE)	12 Months Ended
	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (deficit) (in millions): Twelve Months Ended December 31, 2021 2020 Currency Translation Adjustment Beginning balance $ (220) $ (282) Net investment hedge amounts classified into AOCI, net of tax 9 11 (Loss) gain on foreign currency translation (68) 51 Other comprehensive (loss) income, net of tax (59) 62 Ending balance $ (279) $ (220) Pension and Other Postretirement Adjustment Beginning balance $ (372) $ (326) Amounts reclassified from AOCI to net earnings, net of tax (a) 5 3 Amounts classified into AOCI, net of tax (b) 49 (49) Other comprehensive income (loss), net of tax 54 (46) Ending balance $ (318) $ (372) Hedging Adjustment Beginning balance $ 4 $ (2) Amounts reclassified from AOCI to net earnings, net of tax (c) (11) 4 Amounts classified into AOCI, net of tax 23 2 Other comprehensive income, net of tax 12 6 Ending balance $ 16 $ 4 Total AOCI ending balance $ (581) $ (588) (a) These AOCI components are included in the computation of total Pension and Other Postretirement cost and are recorded in Non-operating (income) expense. See Notes 13 and 14 for additional information. (b) Amounts classified into AOCI, net of tax includes the impact of a pension plan remeasurement that occurred in the third quarter of 2021 related to the purchase and sale agreement for the Company's Insulation site in Santa Clara, California. See Note 11 for additional information. (c) Amounts reclassified from (loss) gain on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Cost of sales or Interest expense, net depending on the hedged item. See Note 4 for additional information.

EARNINGS PER SHARE (TABLE)

EARNINGS PER SHARE (TABLE)	12 Months Ended
	Dec. 31, 2021
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 (loss) per-share (in millions, except per share amounts): Twelve Months Ended December 31, 2021 2020 2019 Net earnings (loss) attributable to Owens Corning $ 995 $ (383) $ 405 Weighted-average number of shares outstanding used for basic earnings (loss) per share 103.5 108.6 109.2 Non-vested restricted and performance shares 0.8 — 0.7 Options to purchase common stock — — 0.2 Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings (loss) per share 104.3 108.6 110.1 Earnings (loss) per common share attributable to Owens Corning common stockholders: Basic $ 9.61 $ (3.53) $ 3.71 Diluted $ 9.54 $ (3.53) $ 3.68

INCOME TAXES (TABLE)

INCOME TAXES (TABLE)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The following table summarizes our Earnings (loss) before taxes and Income tax expense (in millions): Twelve Months Ended December 31, 2021 2020 2019 Earnings (loss) before taxes: United States $ 868 $ 8 $ 315 Foreign 445 (264) 275 Total $ 1,313 $ (256) $ 590
Schedule of Components of Income Tax Expense (Benefit), By Jurisdiction	Income tax expense: Current United States $ 139 $ 4 $ (4) State and local 27 16 11 Foreign 90 30 60 Total current 256 50 67 Deferred United States 53 64 112 State and local (3) (1) 11 Foreign 13 16 (4) Total deferred 63 79 119 Total income tax expense $ 319 $ 129 $ 186
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation between the United States federal statutory rate and the Company’s effective income tax rate from continuing operations is: Twelve Months Ended December 31, 2021 2020 2019 United States federal statutory rate 21 % 21 % 21 % State and local income taxes, net of federal tax benefit 3 (9) 3 U.S. tax expense on foreign earnings — (5) 1 Legislative tax rate changes — 7 2 Foreign tax credits (1) 2 — Valuation allowance — (15) 3 Intercompany restructuring - intellectual property transfer — 14 — Goodwill impairment charge — (75) — Uncertain tax positions and settlements — 2 — Excess tax benefits related to stock compensation — 2 — Other, net 1 6 1 Effective tax rate 24 % (50) % 31 %
Schedule of Deferred Tax Assets and Liabilities	The cumulative temporary differences giving rise to the deferred tax assets and liabilities are as follows (in millions): December 31, 2021 December 31, 2020 Deferred Deferred Deferred Deferred Other employee benefits $ 66 $ — $ 71 $ — Pension plans 16 — 41 — Operating loss and tax credit carryforwards 132 — 170 — Depreciation — 300 — 259 Leases - right of use assets — 34 — 33 Leases - liabilities 36 — 33 — Amortization — 322 — 333 Foreign tax credits 54 — 49 — State and local taxes — — — — Other 139 — 90 — Subtotal 443 656 454 625 Valuation allowances (132) — (133) — Total deferred taxes $ 311 $ 656 $ 321 $ 625
Summary of Operating Loss and Tax Credit Carryforwards	The following table summarizes the amount and expiration dates of our deferred tax assets related to operating loss and credit carryforwards at December 31, 2021 (in millions) (a): Expiration Amounts Domestic loss and tax credit carryforwards 2022-2036 $ 104 Foreign loss and tax credit carryforwards (b) 2022 - Indefinite 82 Total operating loss and tax credit carryforwards $ 186 (a) The use of certain of the Company's losses and credits is limited pursuant to sections 382 and 383 of the Internal Revenue Code which are triggered when a change in control occurs and are computed based upon several variable factors including the share price of the Company's common stock on the date of the change in control. A change in control is generally defined as a cumulative change of more than 50% in the ownership positions of certain stockholders during a rolling three-year period. The Company believes that these limitations will not result in a forfeiture of the carryforwards.
Summary of Income Tax Contingencies	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in millions): Twelve Months Ended December 31, 2021 2020 2019 Balance at beginning of period $ 76 $ 79 $ 84 Tax positions related to the current year Gross additions — — — Tax positions related to prior years Gross additions 1 2 1 Gross reductions (1) (1) — Settlements (1) (1) (1) Expiration of statute of limitations (1) (3) (5) Impact of currency changes — — — Balance at end of period $ 74 $ 76 $ 79

BUSINESS AND SUMMARY OF SIGNI_4

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (DETAIL) $ / shares in Units, $ in Millions	Feb. 03, 2022$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)segment$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares
Property Plant And Equipment [Line Items]
Number of reportable segments | segment			3
Dividend (dollars per share) | $ / shares			$ 1.13	$ 0.98	$ 0.90
Revenue, remaining performance obligation		$ 5	$ 5
Contract with customer, liability		76	76	$ 66
Contract with customer, liability, revenue recognized			17
Marketing and advertising expense			110	98	$ 117
Restricted cash and cash equivalents		7	7
Investments in affiliates		$ 45	$ 45	51
Precious metals depletion, percentage		3.00%	3.00%
Foreign currency transaction gain (loss)			$ 1	6	12
Related party transaction, expenses			87
Due to related party supplier		$ 1	1
Goodwill impairment charge		$ 0	$ 0	$ 944	$ 0
Subsequent Event
Property Plant And Equipment [Line Items]
Dividend (dollars per share) | $ / shares	$ 0.35
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2036-01-01 | Minimum
Property Plant And Equipment [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period		16 years	16 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2040-01-01 | Maximum
Property Plant And Equipment [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period		20 years	20 years

BUSINESS AND SUMMARY OF SIGNI_5

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (PROPERTY, PLANT AND EQUIPMENT USEFUL LIFE) (DETAIL)	12 Months Ended
	Dec. 31, 2021
Building and Building Improvements | Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	15 years
Building and Building Improvements | Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	40 years
Furnaces | Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	4 years
Furnaces | Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	15 years
Technology Equipment | Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	5 years
Technology Equipment | Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	10 years
Equipment | Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	5 years
Equipment | Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment estimated useful lives	20 years

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (DETAIL)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT INFORMATION - Net Sales

SEGMENT INFORMATION - Net Sales by Reportable Segments (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 8,498	$ 7,055	$ 7,160
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(236)	(207)	(201)
United States
Disaggregation of Revenue [Line Items]
Net sales	5,696	4,741	4,776
United States | Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(230)	(204)	(195)
Europe
Disaggregation of Revenue [Line Items]
Net sales	1,384	1,146	1,209
Europe | Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(6)	(1)	(1)
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	746	664	664
Asia Pacific | Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Rest of World
Disaggregation of Revenue [Line Items]
Net sales	672	504	511
Rest of World | Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	0	(2)	(5)
Composites
Disaggregation of Revenue [Line Items]
Net sales	2,341	1,960	2,059
Composites | United States
Disaggregation of Revenue [Line Items]
Net sales	949	810	883
Composites | Europe
Disaggregation of Revenue [Line Items]
Net sales	653	524	572
Composites | Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	552	495	475
Composites | Rest of World
Disaggregation of Revenue [Line Items]
Net sales	187	131	129
Insulation
Disaggregation of Revenue [Line Items]
Net sales	3,184	2,607	2,668
Insulation | United States
Disaggregation of Revenue [Line Items]
Net sales	1,899	1,552	1,570
Insulation | Europe
Disaggregation of Revenue [Line Items]
Net sales	718	609	625
Insulation | Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	187	158	176
Insulation | Rest of World
Disaggregation of Revenue [Line Items]
Net sales	380	288	297
Roofing
Disaggregation of Revenue [Line Items]
Net sales	3,209	2,695	2,634
Roofing | United States
Disaggregation of Revenue [Line Items]
Net sales	3,078	2,583	2,518
Roofing | Europe
Disaggregation of Revenue [Line Items]
Net sales	19	14	13
Roofing | Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	7	11	13
Roofing | Rest of World
Disaggregation of Revenue [Line Items]
Net sales	105	87	90
Residential | United States
Disaggregation of Revenue [Line Items]
Net sales	4,234	3,467	3,376
Residential | United States | Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(230)	(204)	(195)
Residential | Composites | United States
Disaggregation of Revenue [Line Items]
Net sales	312	272	269
Residential | Insulation | United States
Disaggregation of Revenue [Line Items]
Net sales	1,194	949	927
Residential | Roofing | United States
Disaggregation of Revenue [Line Items]
Net sales	2,958	2,450	2,375
Commercial and Industrial Sector | United States
Disaggregation of Revenue [Line Items]
Net sales	1,462	1,274	1,400
Commercial and Industrial Sector | United States | Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Commercial and Industrial Sector | Composites | United States
Disaggregation of Revenue [Line Items]
Net sales	637	538	614
Commercial and Industrial Sector | Insulation | United States
Disaggregation of Revenue [Line Items]
Net sales	705	603	643
Commercial and Industrial Sector | Roofing | United States
Disaggregation of Revenue [Line Items]
Net sales	120	$ 133	$ 143
ABC Supply | Roofing and Insulation | Customer Concentration Risk | Revenue Benchmark
Disaggregation of Revenue [Line Items]
Net sales	$ 895
Concentration risk percentage	11.00%

SEGMENT INFORMATION - EBIT by S

SEGMENT INFORMATION - EBIT by Segment (DETAIL) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Restructuring costs		$ (34)	$ (41)	$ (28)
Gain on sale of land in India		15	0	0
Gains on sale of certain precious metals		53	26	0
Goodwill impairment charge	$ 0	0	(944)	0
Intangible assets impairment charge		0	(43)	0
Recognition of acquisition inventory fair value step-up		(1)	0	0
Pension settlement losses				(43)
Environmental liability charges		0	0	(4)
General corporate expense and other		(160)	(128)	(104)
Total Corporate, other and eliminations		1,448	(124)	753
Composites
Segment Reporting Information [Line Items]
Goodwill impairment charge			0
Total Corporate, other and eliminations		376	165	247
Insulation
Segment Reporting Information [Line Items]
Goodwill impairment charge			(944)
Total Corporate, other and eliminations		446	250	230
Roofing
Segment Reporting Information [Line Items]
Goodwill impairment charge			0
Total Corporate, other and eliminations		753	591	455
Total Segments
Segment Reporting Information [Line Items]
Total Corporate, other and eliminations		1,575	1,006	932
Corporate Eliminations
Segment Reporting Information [Line Items]
Total Corporate, other and eliminations		(127)	(1,130)	(179)
Pension Plan
Segment Reporting Information [Line Items]
Pension settlement losses		0	(1)	(44)
Foreign Plan | Pension Plan
Segment Reporting Information [Line Items]
Pension settlement losses		$ 0	$ 0	$ (43)

SEGMENT INFORMATION - Total Ass

SEGMENT INFORMATION - Total Assets and Property, Plant and Equipment by Geographic Region (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total Assets	$ 10,015	$ 9,481
Cash and cash equivalents	959	717
Noncurrent deferred income taxes	31	28
Investments in affiliates	45	51
Assets held for sale	1	5
Corporate property, plant and equipment, net	559	503
Property, plant and equipment, net	3,873	3,809
Composites
Segment Reporting Information [Line Items]
Total Assets	2,599	2,426
Insulation
Segment Reporting Information [Line Items]
Total Assets	3,937	3,937
Roofing
Segment Reporting Information [Line Items]
Total Assets	1,884	1,814
Total Segments
Segment Reporting Information [Line Items]
Total Assets	8,420	8,177
United States
Segment Reporting Information [Line Items]
Property, plant and equipment, net	2,262	2,169
Europe
Segment Reporting Information [Line Items]
Property, plant and equipment, net	742	777
Asia Pacific
Segment Reporting Information [Line Items]
Property, plant and equipment, net	608	594
Other Geographical
Segment Reporting Information [Line Items]
Property, plant and equipment, net	$ 261	$ 269

SEGMENT INFORMATION - Provision

SEGMENT INFORMATION - Provision For Depreciation and Amortization (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 502	$ 493	$ 457
Charges related to cost reduction actions	19	41	28
Composites
Segment Reporting Information [Line Items]
Depreciation and amortization	162	159	154
Insulation
Segment Reporting Information [Line Items]
Depreciation and amortization	208	201	194
Roofing
Segment Reporting Information [Line Items]
Depreciation and amortization	59	59	54
Total Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	429	419	402
General Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	73	74	55
Accelerated Depreciation | Cost of Sales
Segment Reporting Information [Line Items]
Charges related to cost reduction actions	$ 13	$ 20	$ 9

SEGMENT INFORMATION - Additions

SEGMENT INFORMATION - Additions to Property, Plant and Equipment (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Property, plant and equipment, additions	$ 468	$ 320	$ 451
Composites
Segment Reporting Information [Line Items]
Property, plant and equipment, additions	146	105	123
Insulation
Segment Reporting Information [Line Items]
Property, plant and equipment, additions	198	132	210
Roofing
Segment Reporting Information [Line Items]
Property, plant and equipment, additions	57	46	56
Total Segments
Segment Reporting Information [Line Items]
Property, plant and equipment, additions	401	283	389
General Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment, additions	$ 67	$ 37	$ 62

INVENTORIES (DETAIL)

INVENTORIES (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 672	$ 532
Materials and supplies	406	323
Total inventories	$ 1,078	$ 855

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (BALANCE SHEET) (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Other current assets | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	$ 5	$ 5
Other current assets | Designated as Hedging Instrument | Cash Flow Hedging | Treasury interest rate lock
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	11	0
Other current assets | Designated as Hedging Instrument | Cash Flow Hedging | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	16	2
Other current assets | Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1	2
Other non-current assets | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	1	0
Other non-current assets | Designated as Hedging Instrument | Cash Flow Hedging | Treasury interest rate lock
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	0	4
Other liabilities | Designated as Hedging Instrument | Net Investment Hedging | Cross Currency Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	1	11
Current liabilities | Designated as Hedging Instrument | Cash Flow Hedging | Energy Related Derivative
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Net	5	0
Derivative Liability, Fair Value, Net	2	0
Current liabilities | Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Net	$ 6	$ 45

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS (INCOME STMT) (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cost of Sales | Designated as Hedging Instrument | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of (gain) loss reclassified from AOCI into earnings	$ 15	$ (5)	$ (4)
Other Expense | Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings (ineffective portion)	41	(41)	35
Interest Expense | Designated as Hedging Instrument | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Amount of gain recognized in earnings on derivative amounts excluded from effectiveness testing	(5)	(8)	$ (13)
Net Investment Hedging | Cross Currency Interest Rate Contract
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings (ineffective portion)	12	15
Cash Flow Hedging | Energy Related Derivative
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings (ineffective portion)	10	5
Cash Flow Hedging | Treasury interest rate lock
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings (ineffective portion)	7	4
Cash Flow Hedging | Capital Spend Hedge Member
Derivative Instruments Gain Loss [Line Items]
Amount of loss recognized in earnings (ineffective portion)	$ (2)	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS NARRATIVE (DETAIL) MMBTU in Millions, $ in Millions	3 Months Ended
	Jun. 30, 2020USD ($)	Dec. 31, 2021USD ($)MMBTU	Jun. 30, 2021USD ($)	Dec. 31, 2020MMBTU	Mar. 31, 2020USD ($)
Derivative [Line Items]
Notional amount, energy measure | MMBTU		6		2
Cross Currency Interest Rate Contract
Derivative [Line Items]
Proceeds from derivative instrument	$ 30
Interest Rate Lock Commitments
Derivative [Line Items]
Notional amount					$ 175
Fixed interest rate		0.994%
Dollars | Cross Currency Interest Rate Contract
Derivative [Line Items]
Notional amount		$ 218
Euros | Foreign Exchange Forward
Derivative [Line Items]
Notional amount		29
United States | Foreign Exchange Forward
Derivative [Line Items]
Notional amount		$ 772
Cash Flow Hedging | Foreign Exchange Forward
Derivative [Line Items]
Notional amount			$ 23

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (DETAIL) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 49	$ 48	$ 49
Other
Finite-Lived Intangible Assets [Line Items]
Non-cash impairment charge	$ 43
Insulation
Finite-Lived Intangible Assets [Line Items]
Non-cash impairment charge	944
Insulation | Trade name
Finite-Lived Intangible Assets [Line Items]
Non-cash impairment charge	34
Insulation | Trademarks
Finite-Lived Intangible Assets [Line Items]
Non-cash impairment charge	$ 9

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - ROLLFORWARD (DETAIL) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gross Goodwill [Roll Forward]
Goodwill, gross, beginning balance		$ 1,976	$ 1,932
Acquisitions (see Note 7)		16
Additions		3
Divestiture			(4)
Foreign currency translation		(42)	48
Goodwill, gross, ending balance	$ 1,953	1,953	1,976	$ 1,932
Accumulated Impairment Loss [Roll Forward]
Goodwill, Impaired, Accumulated Impairment Loss		987	0
Goodwill impairment charge	0	0	(944)	0
Foreign currency translation		24	(43)
Goodwill, Impaired, Accumulated Impairment Loss	963	963	987	0
Goodwill, net	990	990	989
Composites
Gross Goodwill [Roll Forward]
Goodwill, gross, beginning balance		57	57
Acquisitions (see Note 7)		16
Additions		3
Divestiture			0
Foreign currency translation		(1)	0
Goodwill, gross, ending balance	75	75	57	57
Accumulated Impairment Loss [Roll Forward]
Goodwill, Impaired, Accumulated Impairment Loss		0	0
Goodwill impairment charge			0
Foreign currency translation		0	0
Goodwill, Impaired, Accumulated Impairment Loss	0	0	0	0
Goodwill, net	75	75	57
Insulation
Gross Goodwill [Roll Forward]
Goodwill, gross, beginning balance		1,519	1,479
Acquisitions (see Note 7)		0
Additions		0
Divestiture			(4)
Foreign currency translation		(38)	44
Goodwill, gross, ending balance	1,481	1,481	1,519	1,479
Accumulated Impairment Loss [Roll Forward]
Goodwill, Impaired, Accumulated Impairment Loss		987	0
Goodwill impairment charge			(944)
Foreign currency translation		24	(43)
Goodwill, Impaired, Accumulated Impairment Loss	963	963	987	0
Goodwill, net	518	518	532
Roofing
Gross Goodwill [Roll Forward]
Goodwill, gross, beginning balance		400	396
Acquisitions (see Note 7)		0
Additions		0
Divestiture			0
Foreign currency translation		(3)	4
Goodwill, gross, ending balance	397	397	400	396
Accumulated Impairment Loss [Roll Forward]
Goodwill, Impaired, Accumulated Impairment Loss		0	0
Goodwill impairment charge			0
Foreign currency translation		0	0
Goodwill, Impaired, Accumulated Impairment Loss	0	0	0	$ 0
Goodwill, net	$ 397	$ 397	$ 400

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,006	$ 2,042
Accumulated Amortization	(389)	(375)
Net Carrying Amount	1,617	1,667
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	1,096	1,109
Accumulated Amortization	0	0
Net Carrying Amount	1,096	1,109
Customer Relationships
Intangible Assets [Line Items]
Gross Carrying Amount	559	570
Accumulated Amortization	(218)	(200)
Net Carrying Amount	341	370
Technology
Intangible Assets [Line Items]
Gross Carrying Amount	298	327
Accumulated Amortization	(168)	(172)
Net Carrying Amount	130	155
Other
Intangible Assets [Line Items]
Gross Carrying Amount	53	36
Accumulated Amortization	(3)	(3)
Net Carrying Amount	$ 50	$ 33

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS (ESTIMATED AMORTIZATION EXPENSE) (DETAIL) $ in Millions	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 45
2023	41
2024	38
2025	38
2026	$ 36

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property, plant, and equipment, gross	$ 7,214	$ 6,910
Accumulated depreciation	(3,341)	(3,101)
Property, plant and equipment, net	$ 3,873	$ 3,809
Precious metals percentage	10.00%	10.00%
Increase to property, plant and equipment	$ 41
Depreciation	429	$ 429	$ 403
Accelerated depreciation related to cost reduction actions	13	20	$ 9
Land
Property Plant And Equipment [Line Items]
Property, plant, and equipment, gross	219	222
Buildings and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant, and equipment, gross	1,265	1,241
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant, and equipment, gross	5,343	5,155
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant, and equipment, gross	387	$ 292
Other Nonoperating Income (Expense)
Property Plant And Equipment [Line Items]
Increase to property, plant and equipment	$ 41

ACQUISITIONS (DETAIL)

ACQUISITIONS (DETAIL) - USD ($) $ in Millions	Jul. 13, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 990	$ 989
Vliepa GmbH
Business Acquisition [Line Items]
Consideration to be paid as part of business acquisition	$ 42
Intangible assets acquired other than goodwill	$ 13
Weighted average useful life	12 years
Goodwill	$ 16

LEASES - Balance Sheet Informat

LEASES - Balance Sheet Information Related to Leases (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 158	$ 154
Finance lease, right-of-use asset	95	73
Total lease assets	253	227
Operating lease, liability, current	49	55
Finance lease , liability, current	25	19
Non-current operating lease liabilities	109	99
Non-current finance lease liabilities	74	59
Total lease liabilities	$ 257	$ 232
Other non-current assets	Other non-current assets	Other non-current assets
Other current liabilities	Other Liabilities, Current	Other Liabilities, Current
Long-term debt, net of current portion	Long-term debt, net of current portion	Long-term debt, net of current portion

LEASES - Lease Related Costs (D

LEASES - Lease Related Costs (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 69	$ 71	$ 81
Finance lease cost
Amortization	23	16	5
Interest	4	3	2
Short-term lease cost	7	11	10
Variable lease cost	$ 5	$ 5	$ 6

LEASES - Narrative (DETAIL)

LEASES - Narrative (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2021
Leases [Abstract]
Finance lease payments	$ 23	$ 16	$ 5
Operating lease, payments	4	3	$ 2
Right-of-use asset obtained in exchange for operating lease liability	81	36
Right-of-use asset obtained in exchange for finance lease liability	$ 51	$ 69
Lessee, operating lease, lease not yet commenced				$ 35

LEASES - Supplemental Informati

LEASES - Supplemental Information Related to Leases (DETAIL)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease, weighted average remaining lease term	4 years 2 months 12 days	3 years 9 months 18 days	4 years
Finance lease, weighted average remaining lease term	6 years 10 months 24 days	6 years 9 months 18 days	3 years 10 months 24 days
Operating lease, weighted average discount rate, percent	3.27%	0.0329%	0.033%
Financing lease, weighted average discount rate, percent	3.67%	0.0404%	0.0629%

LEASES - Operating and Financin

LEASES - Operating and Financing Lease Liability Maturity (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 55
2023	44
2024	27
2025	19
2026	12
2027 and beyond	17
Total minimum lease payments	174
Less: implied interest	16
Present value of future minimum lease payments	158
Less: current operating lease obligations	49	$ 55
Long-term lease obligations	109	99
Finance Lease, Liability, Payment, Due [Abstract]
2022	29
2023	23
2024	16
2025	10
2026	7
2027 and beyond	31
Total minimum lease payments	116
Less: implied interest	17
Present value of future minimum lease payments	99
Less: current finance lease obligations	25	19
Long-term lease obligations	$ 74	$ 59

OTHER CURRENT LIABILITIES (DETA

OTHER CURRENT LIABILITIES (DETAIL) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounts Payable and Accrued Liabilities [Abstract]
Payroll, vacation pay and incentive compensation	$ 232	$ 197
Income, property, and other non-payroll taxes	70	61
Other	251	252
Total other current liabilities	$ 553	$ 510

WARRANTIES (DETAIL)

WARRANTIES (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement In Standard And Extended Product Warranty Increase Decrease [Roll Forward]
Product warranty accrual, beginning balance	$ 72	$ 64
Amounts accrued for current year	21	21
Settlements of warranty claims	(12)	(13)
Product warranty accrual, ending balance	$ 81	$ 72

RESTRUCTURING AND ACQUISITION_3

RESTRUCTURING AND ACQUISITION-RELATED COSTS (DETAIL) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			$ 19	$ 41	$ 28
Expected cost	$ 10		10
Restructuring Reserve Roll Forward
Restructuring costs (gains)			34	41	28
Employee Severance
Restructuring Reserve Roll Forward
Ending Balance	20		20
Non-current Severance
Restructuring Reserve Roll Forward
Ending Balance	3		3
Current Severance
Restructuring Reserve Roll Forward
Ending Balance	17		17
Cost of Sales | Accelerated Depreciation
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			13	20	9
Cost of Sales | Additional Exit Costs
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			1	6	6
Marketing And Administrative Expenses | Additional Exit Costs
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			2	0	0
Other Expense
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions					6
Other Expense | Employee Severance
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			11	13	13
Other Expense | Additional Exit Costs
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			(10)	2	(1)
Non-Operating Expenses | Additional Exit Costs
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions			2	0	$ 1
Roofing Restructuring Actions
Restructuring Reserve Roll Forward
Beginning Balance			0
Restructuring costs (gains)			5
Payments			0
Accelerated depreciation and other non-cash items			4
Ending Balance	1		1	0
Cumulative charges incurred	5		5
Santa Clara Insulation Site
Restructuring Reserve Roll Forward
Beginning Balance			0
Restructuring costs (gains)			25
Payments			0
Accelerated depreciation and other non-cash items			12
Ending Balance	13		13	0
Cumulative charges incurred	25		25
Santa Clara Insulation Site | Employee Severance
Restructuring Reserve Roll Forward
Restructuring costs (gains)			13
Santa Clara Insulation Site | Accelerated Depreciation
Restructuring Reserve Roll Forward
Restructuring costs (gains)			10
Santa Clara Insulation Site | Pension Charge
Restructuring Reserve Roll Forward
Restructuring costs (gains)			2
2020 Insulation Restructuring Actions
Restructuring Reserve Roll Forward
Beginning Balance			2
Restructuring costs (gains)	4		4
Payments			(2)
Accelerated depreciation and other non-cash items			3
Ending Balance	1		1	2
Cumulative charges incurred	27		27
2020 Composites Restructuring Actions
Restructuring Reserve Roll Forward
Beginning Balance			2
Restructuring costs (gains)			(1)
Payments			(1)
Accelerated depreciation and other non-cash items			0
Ending Balance	0		0	2
Cumulative charges incurred	12		12
Paroc and Pittsburgh Corning
Restructuring Reserve Roll Forward
Beginning Balance			9
Restructuring costs (gains)			(2)
Payments			(3)
Accelerated depreciation and other non-cash items			1
Ending Balance	5		5	$ 9
Cumulative charges incurred	$ 27		27
Cost Reductions Actions 2017 | Other Expense | Additional Exit Gains
Restructuring Reserve Roll Forward
Restructuring costs (gains)			$ 15
Minimum
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions		$ 30
Restructuring Reserve Roll Forward
Accelerated depreciation and other non-cash items		75
Maximum
Restructuring Cost and Reserve [Line Items]
Charges related to cost reduction actions		40
Restructuring Reserve Roll Forward
Accelerated depreciation and other non-cash items		$ 85

DEBT (SCHEDULE OF DEBT) (DETAIL

DEBT (SCHEDULE OF DEBT) (DETAIL) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 2,985,000,000	$ 3,145,000,000
Other	2,000,000	2,000,000
Less – current portion	25,000,000	19,000,000
Long-term debt, net of current portion	$ 2,960,000,000	$ 3,126,000,000
Notes payable, fair value	100.00%	100.00%
4.200% senior notes, net of discount and financing fees, due 2022
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 184,000,000
Notes payable, fair value	0.00%	106.00%
4.200% senior notes, net of discount and financing fees, due 2024
Debt Instrument [Line Items]
Long-term debt	$ 397,000,000	$ 396,000,000
Notes payable, fair value	107.00%	111.00%
3.400% senior notes, net of discount and financing fees, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 397,000,000	$ 397,000,000
Notes payable, fair value	106.00%	111.00%
3.950% senior notes, net of discount and financing fees, due 2029
Debt Instrument [Line Items]
Long-term debt	$ 446,000,000	$ 445,000,000
Notes payable, fair value	110.00%	115.00%
3.875% senior notes, net of discount and financing fees, due 2030
Debt Instrument [Line Items]
Long-term debt	$ 297,000,000	$ 297,000,000
Notes payable, fair value	109.00%	115.00%
7.000% senior notes, net of discount and financing fees, due 2036
Debt Instrument [Line Items]
Long-term debt	$ 368,000,000	$ 368,000,000
Notes payable, fair value	141.00%	142.00%
4.300% senior notes, net of discount and financing fees, due 2047
Debt Instrument [Line Items]
Long-term debt	$ 589,000,000	$ 588,000,000
Notes payable, fair value	115.00%	120.00%
4.400% senior notes, net of discount and financing fees, due 2048
Debt Instrument [Line Items]
Long-term debt	$ 390,000,000	$ 390,000,000
Notes payable, fair value	118.00%	121.00%
Various finance leases, due through 2036
Debt Instrument [Line Items]
Long-term debt	$ 99,000,000	$ 78,000,000
Notes payable, fair value	100.00%	100.00%

DEBT (DETAIL)

DEBT (DETAIL) - USD ($)	Aug. 12, 2019	Aug. 08, 2016	Nov. 12, 2014	Oct. 17, 2012	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 12, 2020	Jan. 25, 2018	Jun. 26, 2017	Oct. 31, 2006
Long-Term Debt [Line Items]
Loss on extinguishment of debt					$ 9,000,000		$ 9,000,000	$ 0	$ 32,000,000
Other							2,000,000	2,000,000
Borrowing capacity under credit facility							800,000,000
Current maturities							25,000,000	19,000,000
Short-term Debt [Abstract]
Short-term debt							$ 6,000,000	$ 1,000,000
Short term debt, weighted average interest rate							1.50%	1.10%
Long-term debt							$ 2,985,000,000	$ 3,145,000,000
Notes payable, fair value							100.00%	100.00%
Notes Payable, Fair Value Disclosure, Par Value							(100.00%)	(100.00%)
3.875% senior notes, net of discount and financing fees, due 2030
Long-Term Debt [Line Items]
Fixed interest, percentage rate							3.875%
Face amount										$ 300,000,000
Short-term Debt [Abstract]
Long-term debt							$ 297,000,000	$ 297,000,000
Notes payable, fair value							109.00%	115.00%
Notes Payable, Fair Value Disclosure, Par Value							(109.00%)	(115.00%)
3.950% senior notes, net of discount and financing fees, due 2029
Long-Term Debt [Line Items]
Fixed interest, percentage rate							3.95%
Face amount	$ 450,000,000
Short-term Debt [Abstract]
Long-term debt							$ 446,000,000	$ 445,000,000
Notes payable, fair value							110.00%	115.00%
Notes Payable, Fair Value Disclosure, Par Value							(110.00%)	(115.00%)
7.000% senior notes, net of discount and financing fees, due 2036
Long-Term Debt [Line Items]
Fixed interest, percentage rate							7.00%
Face amount													$ 550,000,000
Repayments	34,000,000						$ 140,000,000
Short-term Debt [Abstract]
Long-term debt							$ 368,000,000	$ 368,000,000
Notes payable, fair value							141.00%	142.00%
Notes Payable, Fair Value Disclosure, Par Value							(141.00%)	(142.00%)
4.400% senior notes, net of discount and financing fees, due 2048
Long-Term Debt [Line Items]
Fixed interest, percentage rate							4.40%
Face amount											$ 400,000,000
Short-term Debt [Abstract]
Long-term debt							$ 390,000,000	$ 390,000,000
Notes payable, fair value							118.00%	121.00%
Notes Payable, Fair Value Disclosure, Par Value							(118.00%)	(121.00%)
4.300% senior notes, net of discount and financing fees, due 2047
Long-Term Debt [Line Items]
Fixed interest, percentage rate							4.30%
Face amount												$ 600,000,000
Short-term Debt [Abstract]
Long-term debt							$ 589,000,000	$ 588,000,000
Notes payable, fair value							115.00%	120.00%
Notes Payable, Fair Value Disclosure, Par Value							(115.00%)	(120.00%)
3.400% senior notes, net of discount and financing fees, due 2026
Long-Term Debt [Line Items]
Fixed interest, percentage rate							3.40%
Face amount		$ 400,000,000
Short-term Debt [Abstract]
Long-term debt							$ 397,000,000	$ 397,000,000
Notes payable, fair value							106.00%	111.00%
Notes Payable, Fair Value Disclosure, Par Value							(106.00%)	(111.00%)
Senior Notes Due 2016
Long-Term Debt [Line Items]
Repayments		$ 158,000,000	$ 242,000,000	$ 250,000,000
4.200% senior notes, net of discount and financing fees, due 2024
Long-Term Debt [Line Items]
Fixed interest, percentage rate							4.20%
Face amount			400,000,000
Short-term Debt [Abstract]
Long-term debt							$ 397,000,000	$ 396,000,000
Notes payable, fair value							107.00%	111.00%
Notes Payable, Fair Value Disclosure, Par Value							(107.00%)	(111.00%)
9.00% senior notes, net of discount and financing fees, due 2019
Long-Term Debt [Line Items]
Repayments			$ 105,000,000	100,000,000			$ 144,000,000
4.200% senior notes, net of discount and financing fees, due 2022
Long-Term Debt [Line Items]
Fixed interest, percentage rate							4.20%
Face amount				$ 600,000,000
Repayments	$ 416,000,000
Short-term Debt [Abstract]
Long-term debt							$ 0	$ 184,000,000
Notes payable, fair value							0.00%	106.00%
Notes Payable, Fair Value Disclosure, Par Value							0.00%	(106.00%)
Senior Revolving Credit Facility B
Long-Term Debt [Line Items]
Proceeds from issuance of debt						$ 600,000,000
Borrowing capacity under credit facility							$ 800,000,000
Letter of Credit Under Receivables Purchase Agreement
Long-Term Debt [Line Items]
Borrowing capacity under credit facility							280,000,000
Current maturities							$ 280,000,000

DEBT (CREDIT FACILITY UTILIZATI

DEBT (CREDIT FACILITY UTILIZATION) (DETAIL) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Facility size	$ 800
Senior Revolving Credit Facility B
Debt Instrument [Line Items]
Facility size	800
Outstanding borrowings	0
Outstanding letters of credit	4
Availability on facility	796
Letter of Credit Under Receivables Purchase Agreement
Debt Instrument [Line Items]
Facility size	280
Collateral capacity limitation on availability	0
Outstanding borrowings	0
Outstanding letters of credit	1
Availability on facility	$ 279

DEBT (SCHEDULE OF DEBT MATURITI

DEBT (SCHEDULE OF DEBT MATURITIES) (DETAIL) $ in Millions	Dec. 31, 2021USD ($)
Maturities of Long-term Debt [Abstract]
2022	$ 25
2023	20
2024	414
2025	8
2026	406
2027 and beyond	2,152
Total	$ 3,025

PENSION PLANS (DETAIL)

PENSION PLANS (DETAIL) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)plan	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Non-operating (income) expense	$ (10)	$ (14)	$ 34
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Settlement/curtailment			43
Defined Benefit Plans, Accumulated Other Comprehensive Income (Loss), After Tax [Abstract]
Defined Benefit Plan, Target Plan Asset Allocations, Period	30 years
Defined Benefit Plan, Target Plan Asset Allocations Range Amount	25.00%
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2022	$ 14
2023	13
2024	13
2025	12
2026	12
2027-2031	$ 53
Defined Contribution Plan [Abstract]
Defined contribution plans, number of plans | plan	2
Cost Recognized Related to Defined Benefit Plans	$ 52	48	48
Pension Plans, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Period	1,433	1,341
Service cost	11	10	10
Interest cost	31	38	47
Actuarial (gain) loss	(59)	111
Currency gain	(10)	18
Benefits paid	(86)	(87)
Plan amendments	1	(3)
Defined Benefit Plan, Settlements / Curtailments	(4)	(5)
Other	2	4
Benefit Obligation at End of Period	1,317	1,433	1,341
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	1,283	1,119
Actual return on plan assets	53	117
Currency gain (loss)	(8)	14
Company contributions	21	122
Benefits paid	(86)	(87)
Settlements/curtailments	(4)	(5)
Other	0	3
Fair Value of Assets at End of Period	1,259	1,283	1,119
Funded status	(58)	(150)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Prepaid pension cost	21	12
Accrued pension cost – current	(2)	(2)
Accrued pension cost – non-current	(77)	(160)
Net amount recognized	(58)	(150)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax [Abstract]
Net actuarial loss	(414)	(490)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Projected Benefit Obligation	1,169	1,274
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Fair Value of Plan Assets	1,091	1,112
Defined Benefit Plan, Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract]
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Accumulated Benefit Obligation	1,141	1,240
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Fair Value of Plan Assets	1,073	1,091
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	11	10	10
Expected return on plan assets	(54)	(62)	(68)
Amortization of actuarial gain	16	15	15
Settlement/curtailment	0	1	44
Other	2	0	0
Net periodic postretirement benefit income	6	2	48
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	1,259	1,283	1,119
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2022	85
2023	82
2024	79
2025	76
2026	78
2027-2031	367
United States
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	440
Fair Value of Assets at End of Period	$ 497	$ 440
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.85%	2.50%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Expected Return on Assets	4.75%	4.75%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate	1.26%	0.79%
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	$ 497	$ 440
United States | Equities, Domestic
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	53
Fair Value of Assets at End of Period	56	53
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	56	53
United States | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	319
Fair Value of Assets at End of Period	363	319
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	363	319
United States | Government Debt
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	68
Fair Value of Assets at End of Period	78	68
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	78	68
United States | Fair Value, Inputs, Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	84
Fair Value of Assets at End of Period	91	84
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	91	84
United States | Fair Value, Inputs, Level 1 | Equities, Domestic
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	53
Fair Value of Assets at End of Period	56	53
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	56	53
United States | Fair Value, Inputs, Level 1 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	31
Fair Value of Assets at End of Period	35	31
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	35	31
United States | Fair Value, Inputs, Level 1 | Government Debt
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
United States | Fair Value, Inputs, Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	356
Fair Value of Assets at End of Period	406	356
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	406	356
United States | Fair Value, Inputs, Level 2 | Equities, Domestic
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
United States | Fair Value, Inputs, Level 2 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	288
Fair Value of Assets at End of Period	328	288
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	328	288
United States | Fair Value, Inputs, Level 2 | Government Debt
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	68
Fair Value of Assets at End of Period	78	68
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	78	68
United States | Fair Value, Inputs, Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
United States | Fair Value, Inputs, Level 3 | Equities, Domestic
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
United States | Fair Value, Inputs, Level 3 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
United States | Fair Value, Inputs, Level 3 | Government Debt
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
United States | NAV
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	842
Fair Value of Assets at End of Period	816	842
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	816	842
United States | NAV | Equities
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	193
Fair Value of Assets at End of Period	144	193
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	144	193
United States | NAV | Fixed income and cash equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	157
Fair Value of Assets at End of Period	125	157
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	125	157
United States | NAV | Absolute return strategies and other
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	52
Fair Value of Assets at End of Period	50	52
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	50	52
United States | Pension Plans, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Period	910	866
Service cost	5	5
Interest cost	22	28
Actuarial (gain) loss	(31)	83
Currency gain	0	0
Benefits paid	(67)	(71)
Plan amendments	0	0
Defined Benefit Plan, Settlements / Curtailments	0	(1)
Other	2	0
Benefit Obligation at End of Period	841	910	866
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	842	733
Actual return on plan assets	41	80
Currency gain (loss)	0	0
Company contributions	0	101
Benefits paid	(67)	(71)
Settlements/curtailments	0	(1)
Other	0	0
Fair Value of Assets at End of Period	816	842	$ 733
Funded status	(25)	(68)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Prepaid pension cost	0	0
Accrued pension cost – current	0	0
Accrued pension cost – non-current	(25)	(68)
Net amount recognized	(25)	(68)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax [Abstract]
Net actuarial loss	(333)	(381)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Projected Benefit Obligation	841	910
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Accumulated Benefit Obligation	816	842
Defined Benefit Plan, Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract]
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Accumulated Benefit Obligation	841	910
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Fair Value of Plan Assets	816	842
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 5	$ 5
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.50%	3.30%	4.25%
Expected return on plan assets	4.75%	6.50%	6.75%
Cash balance interest crediting rate	0.79%	2.66%	3.77%
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	$ 816	$ 842	$ 733
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Percentage of Assets Invested in Equity	23.50%
Percentage of Assets Invested in Intermediate and Long-term Fixed income Securities	70.50%
Percentage of Assets Invested in Absolute Return Securities	6.00%
Defined Contribution Plan [Abstract]
Company Match Regardless of Employee Contribution	2.00%
Foreign Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	$ 92
Fair Value of Assets at End of Period	$ 84	$ 92
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.35%	1.73%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Expected Return on Assets	3.93%	4.08%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase	3.31%	3.00%
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	$ 84	$ 92
Defined Contribution Plan [Abstract]
Expected contributions by employer	25
Foreign Plan | Equities
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	2
Fair Value of Assets at End of Period	2	2
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	2	2
Foreign Plan | Cash and cash equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	81
Fair Value of Assets at End of Period	72	81
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	72	81
Foreign Plan | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	9
Fair Value of Assets at End of Period	10	9
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	10	9
Foreign Plan | Fair Value, Inputs, Level 1
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at End of Period	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0
Foreign Plan | Fair Value, Inputs, Level 1 | Equities
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | Fair Value, Inputs, Level 1 | Cash and cash equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | Fair Value, Inputs, Level 1 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | Fair Value, Inputs, Level 2
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	92
Fair Value of Assets at End of Period	84	92
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	84	92
Foreign Plan | Fair Value, Inputs, Level 2 | Equities
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	2
Fair Value of Assets at End of Period	2	2
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	2	2
Foreign Plan | Fair Value, Inputs, Level 2 | Cash and cash equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	81
Fair Value of Assets at End of Period	72	81
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	72	81
Foreign Plan | Fair Value, Inputs, Level 2 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	9
Fair Value of Assets at End of Period	10	9
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	10	9
Foreign Plan | Fair Value, Inputs, Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | Fair Value, Inputs, Level 3 | Equities
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | Fair Value, Inputs, Level 3 | Cash and cash equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | Fair Value, Inputs, Level 3 | Corporate bonds
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	0
Fair Value of Assets at End of Period	0	0
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	0	0
Foreign Plan | NAV
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	441
Fair Value of Assets at End of Period	443	441
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	443	441
Foreign Plan | NAV | Equities
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	86
Fair Value of Assets at End of Period	61	86
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	61	86
Foreign Plan | NAV | Fixed income and cash equivalents
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	156
Fair Value of Assets at End of Period	202	156
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	202	156
Foreign Plan | NAV | Absolute return strategies and other
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	107
Fair Value of Assets at End of Period	96	107
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	96	107
Foreign Plan | Pension Plans, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Period	523	475
Service cost	6	5
Interest cost	9	10
Actuarial (gain) loss	(28)	28
Currency gain	(10)	18
Benefits paid	(19)	(16)
Plan amendments	1	(3)
Defined Benefit Plan, Settlements / Curtailments	(4)	(4)
Other	0	4
Benefit Obligation at End of Period	476	523	475
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Period	441	386
Actual return on plan assets	12	37
Currency gain (loss)	(8)	14
Company contributions	21	21
Benefits paid	(19)	(16)
Settlements/curtailments	(4)	(4)
Other	0	3
Fair Value of Assets at End of Period	443	441	386
Funded status	(33)	(82)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Prepaid pension cost	21	12
Accrued pension cost – current	(2)	(2)
Accrued pension cost – non-current	(52)	(92)
Net amount recognized	(33)	(82)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax [Abstract]
Net actuarial loss	(81)	(109)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Projected Benefit Obligation	328	364
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Accumulated Benefit Obligation	275	270
Defined Benefit Plan, Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract]
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Accumulated Benefit Obligation	300	330
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations, Fair Value of Plan Assets	257	249
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	6	5
Settlement/curtailment	$ 0	$ 0	$ 43
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	1.73%	2.24%	3.04%
Expected return on plan assets	4.08%	4.66%	4.91%
Rate of compensation increase	3.00%	3.99%	4.14%
Defined Benefit Plan, Information about Plan Assets [Abstract]
Assets	$ 443	$ 441	$ 386

POSTEMPLOYMENT AND POSTRETIRE_3

POSTEMPLOYMENT AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Accumulated postretirement benefit obligation	$ 164	$ 177
Fair value of plan assets	0	0
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2022	14
2023	13
2024	13
2025	12
2026	12
2027-2031	53
Postemployment Benefits [Abstract]
Postemployment Benefits Liability	8	8
Postemployment Benefits, Period Income	1	1
Postemployment Benefits, Period Expense			$ 1
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Period	177	183
Service cost	1	1	1
Interest cost	4	6	8
Actuarial (gain) loss	(5)	1
Currency gain	0	(1)
Benefits paid	(13)	(13)
Benefit Obligation at End of Period	164	177	183
Funded status	(164)	(177)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Accrued benefit obligation – current	(14)	(14)
Accrued benefit obligation – non-current	(150)	(163)
Net amount recognized	(164)	(177)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax [Abstract]
Net actuarial gain	40	43
Net prior service credit	1	2
Net amount recognized	41	45
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1	1	1
Amortization of prior service credit	(1)	(4)	(4)
Amortization of actuarial gain	(8)	(8)	(8)
Net periodic postretirement benefit income	(4)	(5)	(3)
United States
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Accumulated postretirement benefit obligation	151	163
Fair value of plan assets	$ 0	$ 0
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.85%	2.50%
United States | Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Employee Eligible Age	10 years
Defined Benefit Plan, Qualifying Employee Age, Scenario 1	45 years
Defined Benefit Plan, Qualifying Employee Age, Scenario 2	48 years
Defined Benefit Plan, Qualifying Employee Age, Scenario 3	50 years
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Period	$ 163	$ 169
Service cost	1	1
Interest cost	3	5
Actuarial (gain) loss	(4)	0
Currency gain	0	0
Benefits paid	(12)	(12)
Benefit Obligation at End of Period	151	163	$ 169
Funded status	(151)	(163)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Accrued benefit obligation – current	(13)	(13)
Accrued benefit obligation – non-current	(138)	(150)
Net amount recognized	(151)	(163)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax [Abstract]
Net actuarial gain	37	41
Net prior service credit	1	2
Net amount recognized	$ 38	$ 43
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.70%	2.25%
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 1	$ 1
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.25%	3.10%	4.15%
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Initial rate at end of year	8.10%	8.20%	6.50%
Ultimate rate	4.50%	4.50%	5.00%
Year in which ultimate rate is reached	2029	2029	2026
Foreign Plan
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Accumulated postretirement benefit obligation	$ 13	$ 14
Fair value of plan assets	$ 0	$ 0
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.35%	1.73%
Foreign Plan | Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Period	$ 14	$ 14
Service cost	0	0
Interest cost	1	1
Actuarial (gain) loss	(1)	1
Currency gain	0	(1)
Benefits paid	(1)	(1)
Benefit Obligation at End of Period	13	14	$ 14
Funded status	(13)	(14)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Accrued benefit obligation – current	(1)	(1)
Accrued benefit obligation – non-current	(12)	(13)
Net amount recognized	(13)	(14)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax [Abstract]
Net actuarial gain	3	2
Net prior service credit	0	0
Net amount recognized	$ 3	$ 2
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.63%	3.04%
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	3.04%	3.84%	4.59%
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Initial rate at end of year	4.25%	4.10%	5.45%
Ultimate rate	3.87%	3.90%	5.45%
Year in which ultimate rate is reached	2040	2040	2019

CONTINGENT LIABILITIES AND OT_2

CONTINGENT LIABILITIES AND OTHER MATTERS (DETAIL) $ in Millions	Dec. 31, 2021USD ($)site
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	22
Environmental liabilities reserve | $	$ 6
Superfund Sites
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	9
Owned or Formerly Owned Sites
Unusual or Infrequent Item, or Both [Line Items]
Environmental liability sites	13
Other Current Liabilities
Unusual or Infrequent Item, or Both [Line Items]
Environmental liabilities reserve | $	$ 3

STOCK COMPENSATION (DETAIL)

STOCK COMPENSATION (DETAIL) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 15, 2022	Apr. 16, 2020	Apr. 18, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs related to stock options	$ 0
Grants, weighted average grant date fair value	$ 84.03	$ 63.96	$ 52.60
Intrinsic value of options outstanding	$ 3	$ 14
Intrinsic value of options exercisable	$ 3
Outstanding Options, Weighted Average Remaining Contractual Term	1 year 8 months 15 days	1 year 6 months
Exercisable Options, Weighted Average Remaining Contractual Term	1 year 8 months 15 days
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Options, Outstanding, Number, Beginning Balance	361,775
Options, Outstanding, Number, Options Exercised	(305,875)
Options, Outstanding, Number, Ending Balance	55,900	361,775
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Options, Outstanding, Weighted Average Exercise Price, Beginning of Period	$ 37.77
Options, Outstanding, Exercises In Period Weighted Average Exercise Price	37.49
Options, Outstanding, Weighted Average Exercise Price, End of Period	$ 39.34	$ 37.77
Marketing and Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 50	$ 41	$ 39
Tax benefit from exercise of stock options	$ 14	$ 14	$ 7
Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Contributions from employees				$ 5
Stock Plan 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant	3,100,000
Performance Stock Units (PSUs) 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants, weighted average grant date fair value			$ 68.65
Expected volatility rate			26.67%
Risk free interest rate			2.45%
Expected term			2 years 10 months 24 days
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonoptions, Number, Beginning Balance	323,361
Nonoptions, Number, Grants In Period	153,858
Nonoptions, Number, Vested In Period	(143,218)
Nonoptions, Number, Forfeited In Period	(24,030)
Nonoptions, Number, Ending Balance	309,971	323,361
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Nonoptions, Weighted Average Fair Value, Beginning Balance	$ 61.78
Nonoptions, Weighted Average Fair Value, Grants in Period	85.81
Nonoptions, Weighted Average Fair Value, Vested	58.44
Nonoptions, Weighted Average Fair Value, Forfeited	66.32
Nonoptions, Weighted Average Fair Value, Ending Balance	$ 74.78	$ 61.78
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant	3,800,000				4,200,000
Internal Based Performance Metric
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	3 years
Percentage of outstanding stock minimum	0.00%
Percentage of outstanding stock maximum	300.00%
External Based Performance Metric
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	3 years
Percentage of outstanding stock minimum	0.00%
Percentage of outstanding stock maximum	200.00%
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tax benefit from exercise of stock options	$ 4	$ 0	$ 0
Award vesting period (in years)	4 years
Options maximum term	10 years
Cash received from exercise of stock options	$ 11	2	2
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	2 years 4 months 28 days
Total unrecognized compensation cost related to restricted stock	$ 31
Grants in period fair value	$ 26	$ 27	21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonoptions, Number, Beginning Balance	1,419,454
Nonoptions, Number, Grants In Period	370,172
Nonoptions, Number, Vested In Period	(465,990)
Nonoptions, Number, Forfeited In Period	(54,643)
Nonoptions, Number, Ending Balance	1,268,993	1,419,454
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Nonoptions, Weighted Average Fair Value, Beginning Balance	$ 54.99
Nonoptions, Weighted Average Fair Value, Grants in Period	84.03
Nonoptions, Weighted Average Fair Value, Vested	54.44
Nonoptions, Weighted Average Fair Value, Forfeited	66.61
Nonoptions, Weighted Average Fair Value, Ending Balance	$ 62.25	$ 54.99
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	1 year 8 months 4 days
Total unrecognized compensation cost related to restricted stock	$ 20
Grants in period fair value	8	$ 9	14
Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost related to restricted stock	2
Purchase price, percentage of market value						85.00%
Employee emergence equity program expense	$ 6	$ 6	$ 5
Shares purchased by employees	289,945	366,442	393,230
Average price of shares purchased	$ 66.68	$ 45.17	$ 41.33
Minimum | Performance Stock Units (PSUs) 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants, weighted average grant date fair value	$ 99.19	$ 68.60
Expected volatility rate	42.74%	28.43%
Risk free interest rate	0.18%	0.15%
Expected term	2 years 6 months 21 days	2 years 3 months 21 days
Minimum | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercisable Options, Weighted Average Exercise Price	$ 37.65
Minimum | Restricted Stock Awards and Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	3 years
Maximum | Performance Stock Units (PSUs) 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants, weighted average grant date fair value	$ 127.37	$ 76.58
Expected volatility rate	43.67%	44.83%
Risk free interest rate	0.24%	1.43%
Expected term	2 years 10 months 24 days	2 years 10 months 24 days
Maximum | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercisable Options, Weighted Average Exercise Price	$ 42.16
Maximum | Restricted Stock Awards and Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	4 years

CHANGES IN ACCUMULATED OTHER _3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE DEFICIT (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,941	$ 4,671	[1]	$ 4,324
(Loss) gain on foreign currency translation	(60)	65		23
Other comprehensive income, net of tax	7	22		46
Ending balance	4,335	3,941		4,671	[1]
AOCI Including Portion Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(588)
Ending balance	(581)	(588)
Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(220)	(282)
Amounts classified into AOCI, net of tax	9	11
(Loss) gain on foreign currency translation	(68)	51
Other comprehensive income, net of tax	(59)	62
Ending balance	(279)	(220)		(282)
Pension and Other Postretirement Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(372)	(326)
Amounts classified into AOCI, net of tax	(49)	49
Amounts reclassified from AOCI to net earnings, net of tax	5	3
Other comprehensive income, net of tax	54	(46)
Ending balance	(318)	(372)		(326)
Hedging Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	4	(2)
Amounts classified into AOCI, net of tax	(23)	(2)
Amounts reclassified from AOCI to net earnings, net of tax	(11)	4
Other comprehensive income, net of tax	12	6
Ending balance	$ 16	$ 4		$ (2)
[1]	Dividend declarations of $1.13 per share as of December 31, 2021, $0.98 per share as of December 31, 2020, and $0.90 per share as of December 31, 2019.

EARNINGS PER SHARE (DETAIL)

EARNINGS PER SHARE (DETAIL) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
NET EARNINGS ATTRIBUTABLE TO OWENS CORNING	$ 995	$ (383)	$ 405
Weighted-average number of shares outstanding used for basic earnings (loss) per share	103.5	108.6	109.2
Non-vested restricted and performance shares	0.8	0	0.7
Options to purchase common stock	0	0	0.2
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings (loss) per share		108.6	110.1
Basic (dollars per share)	$ 9.61	$ (3.53)	$ 3.71
Diluted (dollars per share)	$ 9.54	$ (3.53)	$ 3.68

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (DETAIL) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 03, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Payments for repurchase of equity	$ 557
Remaining number of shares authorized to be repurchased	3,400,000
Performance Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	100,000
Repurchase Program 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares authorized to be repurchased		10,000,000
Combined Repurchase Programs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Purchase of treasury stock (in shares)	6,100,000

INCOME TAXES (DETAIL)

INCOME TAXES (DETAIL) - USD ($)	Mar. 06, 2019	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Earnings Before Taxes, Domestic			$ 868,000,000	$ 8,000,000	$ 315,000,000
Earnings Before Taxes, Foreign			445,000,000	(264,000,000)	275,000,000
EARNINGS (LOSS) BEFORE TAXES			1,313,000,000	(256,000,000)	590,000,000
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current Federal Tax Expense (Benefit)			139,000,000	4,000,000	(4,000,000)
Current State and Local Tax Expense (Benefit)			27,000,000	16,000,000	11,000,000
Current Foreign Tax Expense (Benefit)			90,000,000	30,000,000	60,000,000
Current Income Tax Expense (Benefit)			256,000,000	50,000,000	67,000,000
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred Federal Income Tax Expense (Benefit)			53,000,000	64,000,000	112,000,000
Deferred State and Local Income Tax Expense (Benefit)			(3,000,000)	(1,000,000)	11,000,000
Deferred Foreign Income Tax Expense (Benefit)			13,000,000	16,000,000	(4,000,000)
Deferred Income Tax Expense (Benefit)			63,000,000	79,000,000	119,000,000
Total income tax expense			$ 319,000,000	$ 129,000,000	$ 186,000,000
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
United States federal statutory rate			21.00%	21.00%	21.00%
State and local income taxes, net of federal tax benefit			3.00%	(9.00%)	3.00%
U.S. tax expense on foreign earnings			0.00%	(5.00%)	1.00%
Legislative tax rate changes			0.00%	7.00%	2.00%
Foreign tax credits			1.00%	(2.00%)	0.00%
Valuation allowance			0.00%	(15.00%)	3.00%
Intercompany restructuring - intellectual property transfer			0.00%	14.00%	0.00%
Goodwill impairment charge			0.00%	(75.00%)	0.00%
Uncertain tax positions and settlements			0.00%	2.00%	0.00%
Excess tax benefits related to stock compensation			0.00%	2.00%	0.00%
Other, net			1.00%	6.00%	1.00%
Effective tax rate			24.00%	(50.00%)	31.00%
Deferred tax asset, intercompany restructuring			$ 37,000,000
Income tax expense, intercompany restructuring			5,000,000
Income Tax Expense (Benefit), GILTI	$ 12,000,000	$ 13,000,000
Cumulative effect adjustment			4,296,000,000	$ 3,901,000,000
Undistributed earnings of foreign subsidiaries			1,500,000,000
Components of Deferred Tax Assets [Abstract]
Deferred Tax Assets, Other Employee Benefits			66,000,000	71,000,000
Deferred Tax Assets, Pension Plans			16,000,000	41,000,000
Deferred Tax Assets, Operating Loss Carryforwards			132,000,000	170,000,000
Deferred Tax Asset, Lease Liability			36,000,000	33,000,000
Deferred Tax Assets, Operating Loss Carryforwards, Foreign			54,000,000	49,000,000
Deferred Tax Assets, State and Local			0	0
Deferred Tax Assets, Other			139,000,000	90,000,000
Deferred Tax Assets, Gross			443,000,000	454,000,000
Valuation Allowance, Amount			132,000,000	133,000,000
Deferred Tax Assets Total			311,000,000	321,000,000
Components of Deferred Tax Liabilities [Abstract]
Deferred Tax Liabilities, Depreciation			300,000,000	259,000,000
Deferred Tax Liabilities, Right of Use Assets			34,000,000	33,000,000
Deferred Tax Liabilities, Amortization			322,000,000	333,000,000
Deferred Tax Liabilities Total			656,000,000	625,000,000
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract]
Domestic loss and tax credit carryforwards			104,000,000
Foreign loss and tax credit carryforwards			82,000,000
Operating Loss And Tax Credit Carryforwards			186,000,000
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance			76,000,000	79,000,000	$ 84,000,000
Tax Positions Related to Current Year, Gross Additions			0	0	0
Tax Positions Related to Prior Years, Gross Additions			1,000,000	2,000,000	1,000,000
Tax Positions Related to Prior Years, Gross Reductions			(1,000,000)	(1,000,000)	0
Settlements			(1,000,000)	(1,000,000)	(1,000,000)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations			(1,000,000)	(3,000,000)	(5,000,000)
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation			0	0	0
Unrecognized Tax Benefits, Ending Balance			74,000,000	76,000,000	79,000,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate			54,000,000
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities			1,000,000	1,000,000	1,000,000
Income Tax Penalties and Interest [Abstract]
Income Tax Examination, Penalties and Interest Accrued			7,000,000	7,000,000	8,000,000
Income Tax Examination, Penalties and Interest Expense			2,000,000	$ 1,000,000	$ 2,000,000
Minimum
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract]
Unrecognized Tax Benefits Estimated Range of Change Lower Bound			0
Maximum
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract]
Unrecognized Tax Benefits Estimated Range of Change Lower Bound			3,000,000
Domestic Tax Authority
Components of Deferred Tax Assets [Abstract]
Deferred Tax Assets, Gross			213,000,000
Domestic Tax Authority | Minimum
Components of Deferred Tax Assets [Abstract]
Valuation Allowance, Amount			0
Domestic Tax Authority | Maximum
Components of Deferred Tax Assets [Abstract]
Valuation Allowance, Amount			$ 3,000,000

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (DETAIL) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for Doubtful Accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period		$ 10	$ 11	$ 16
Charged to Costs and Expenses		1	1	2
Charged to Other Accounts		0	0	0
Deductions	[1]	(2)	(2)	(7)
Balance at End of Period		9	10	11
Tax Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period		133	92	78
Charged to Costs and Expenses		11	39	19
Charged to Other Accounts		8	2	1
Deductions		(20)	0	(6)
Balance at End of Period		$ 132	$ 133	$ 92
[1]	Uncollectible accounts written off, net of recoveries.