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RESTRUCTURING, ACQUISITION AND DIVESTITURE-RELATED COSTS | 12 Months Ended
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Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
RESTRUCTURING, ACQUISITION AND DIVESTITURE-RELATED COSTS | RESTRUCTURING, ACQUISITION AND DIVESTITURE-RELATED COSTS The Company may incur restructuring, transaction and integration costs related to acquisitions and divestitures, and may incur restructuring and other exit costs in connection with its global cost reduction, productivity initiatives and the Company's growth strategy. ACQUISITION AND DIVESTITURE-RELATED COSTS During 2022, the Company incurred $7 million of transaction costs related to its announced acquisitions and divestitures. Please refer to Note 7 and Note 8 of the Consolidated Financial Statements for further information regarding these actions. RESTRUCTURING RELATED-COSTS Composites Strategic Realignment Actions Throughout 2022, the Company took actions to support our growth strategy in building and construction applications and reduce its cost structure within the Composites segment. These actions include converting the DUCS manufacturing facilities located in Anderson, South Carolina and Kimchon, Korea to produce other glass fiber products and exiting a facility in Japan. The Company recorded costs of $9 million associated with these actions in 2022 and expects to incur an immaterial amount of incremental costs related to these actions in 2023. 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 to allow the business to optimize its manufacturing network and support a tariff mitigation strategy. During 2022, the Company recorded $3 million of charges primarily related to severance and other exit costs. The Company expects to recognize $2 million of incremental charges related to these actions in 2023. 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 ceased operations at this facility in the fourth quarter of 2022, meeting the assets held for sale criteria, with plans to complete the transaction in the first quarter of 2023. Please refer to Note 9 of the Consolidated Financial Statements for further information. 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 2022, the Company recorded $35 million of charges, comprised of $22 million of accelerated depreciation and $13 million of other exit costs, 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 2022, the Company recorded $2 million of charges primarily related to accelerated depreciation. The Company expects to recognize an immaterial amount of incremental charges related to these actions in 2023. 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, acquisition and divestiture-related costs on the Consolidated Statements of Earnings (Loss), which are included within Corporate, Other and Eliminations (in millions):
|  | Twelve Months Ended December 31,
Type of Cost | Location | 2022 | 2021 | 2020
Accelerated depreciation | Cost of sales | $ | 26 |  | $ | 13 |  | $ | 20 |
Other exit costs | Cost of sales | 16 |  | 1 |  | 6 |
Other exit costs | Marketing and administrative expenses | — |  | 2 |  | — |
Recognition of acquisition inventory fair value step-up | Cost of sales | — |  | 1 |  | — |
Severance | Other expenses (income), net | 1 |  | 11 |  | 13 |
Other exit costs (gains) (a) | Other expenses (income), net | 41 |  | (10) |  | 2 |
Acquisition-related gains | Gain on equity method investment | (130) |  | — |  | — |
Acquisition and divestiture-related costs | Marketing and administrative expenses | 7 |  | — |  | — |
Other exit costs | Non-operating (income) expense | — |  | 2 |  | — |
Total restructuring, acquisition and divestiture-related (gains) costs |  | $ | (39) |  | $ | 20 |  | $ | 41 |
(a) Other exit costs (gains) 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. Summary of Unpaid Liabilities The following table summarizes the status of the unpaid liabilities from the Company’s restructuring activities (in millions):
|  | Composites Strategic Realignment Actions | Roofing Components Restructuring Actions | Santa Clara Insulation Site | 2020 Insulation Restructuring Actions |  |  | Acquisition-Related Restructuring |
Balance at December 31, 2021 |  | $ | — |  | $ | 1 |  | $ | 13 |  | $ | 1 |  |  |  | $ | 5 |  |
Restructuring costs (gains) |  | 9 |  | 3 |  | 35 |  | 2 |  |  |  | (1) |  |
Payments |  | (2) |  | — |  | (19) |  | (1) |  |  |  | (3) |  |
Accelerated depreciation and other non-cash items |  | (6) |  | (4) |  | (22) |  | (2) |  |  |  | 1 |  |
Balance at December 31, 2022 |  | $ | 1 |  | $ | — |  | $ | 7 |  | $ | — |  |  |  | $ | 2 |  |
Cumulative charges incurred |  | $ | 9 |  | $ | 8 |  | $ | 60 |  | $ | 29 |  |  |  | $ | 26 |  |
As of December 31, 2022, the remaining liability balance is comprised of $11 million of severance, which the Company expects to pay over the next twelve months.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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