Amendment: Owens Corning Inc filed SEC Form 8-K: Material Impairments
$OC
Industrial Machinery/Components
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K/A
(Amendment No. 1)
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 13, 2025
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Explanatory Note
On February 14, 2025, Owens Corning (the “Company”) filed a Current Report on Form 8-K (the “Original 8-K”) disclosing (1) an expected impairment charge associated with the announced sale of the Company’s global glass reinforcements business (the “GR Business”); (2) that, beginning with the Quarterly Report on Form 10-Q for the period ended March 31, 2025, the GR Business’s financial results would be reflected in the Company’s consolidated financial statements as discontinued operations for all periods presented, and the GR Business would be classified as “held for sale;” and (3) that the Company was unable in good faith to determine an estimate of the amount or range of amounts of the impairment charge. The Company is filing this Amendment No. 1 to Form 8-K to amend the Original 8-K to report an estimated amount of the impairment charge related to the sale of the GR Business. The disclosure included in the Original 8-K otherwise remains unchanged.
| Item 2.06. | Material Impairments. | ||||
On April 25, 2025, the Company determined that the estimated pre-tax noncash impairment charge related to the sale of the GR Business is expected to be approximately $360 million, which will be reflected in its consolidated financial statements for the quarter ended March 31, 2025 and will be reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Owens Corning | ||||||||
| April 30, 2025 | By: | /s/ Todd W. Fister | ||||||
| Todd W. Fister | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||