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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2022
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 – Within our Composites segment, 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, spray foam 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, 2022
Reportable Segments | Composites | Insulation | Roofing | Eliminations | Consolidated
Disaggregation Categories |  |  |  |  |
U.S. residential | $ | 352 |  | $ | 1,523 |  | $ | 3,355 |  | $ | (262) |  | $ | 4,968 |
U.S. commercial and industrial | 872 |  | 796 |  | 160 |  | (4) |  | 1,824 |
Total United States | 1,224 |  | 2,319 |  | 3,515 |  | (266) |  | 6,792 |
Europe | 671 |  | 805 |  | 21 |  | (5) |  | 1,492 |
Asia-Pacific | 550 |  | 160 |  | 6 |  | — |  | 716 |
Rest of world | 215 |  | 430 |  | 116 |  | — |  | 761 |
NET SALES | $ | 2,660 |  | $ | 3,714 |  | $ | 3,658 |  | $ | (271) |  | $ | 9,761 |
| 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 |
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 - No individual customers accounted for 10% or more of consolidated sales in 2022 or 2020. One customer, which is a customer of both the Roofing and Insulation segments, accounted for $895 million (11%) of consolidated sales in 2021. 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,
| 2022 |  | 2021 |  | 2020
Reportable Segments |  |  |  |  |
Composites | $ | 498 |  |  | $ | 376 |  |  | $ | 165 |
Insulation | 612 |  |  | 446 |  |  | 250 |
Roofing | 831 |  |  | 753 |  |  | 591 |
Total reportable segments | 1,941 |  |  | 1,575 |  |  | 1,006 |
Restructuring costs | (48) |  |  | (34) |  |  | (41) |
Gain on sale of land in India | — |  |  | 15 |  |  | — |
Gain on sale of Shanghai, China facility | 27 |  |  | — |  |  | — |
Gains on sale of certain precious metals | 18 |  |  | 53 |  |  | 26 |
Goodwill impairment charge | — |  |  | — |  |  | (944) |
Intangible assets impairment charge | (96) |  |  | — |  |  | (43) |
Acquisition and divestiture-related costs | (7) |  |  | — |  |  | — |
Recognition of acquisition inventory fair value step-up | — |  |  | (1) |  |  | — |
Loss on sale of Chambery, France DUCS business | (30) |  |  | — |  |  | — |
Loss on sale of Russian operations | (33) |  |  | — |  |  | — |
Gain on remeasurement of Fiberteq equity investment | 130 |  |  | — |  |  | — |
General corporate expense and other | (179) |  |  | (160) |  |  | (128) |
Total Corporate, other and eliminations | (218) |  |  | (127) |  |  | (1,130) |
EBIT | $ | 1,723 |  |  | $ | 1,448 |  |  | $ | (124) |
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 | 2022 |  | 2021
Reportable Segments |  |  |
Composites | $ | 3,202 |  |  | $ | 2,599 |
Insulation | 3,930 |  |  | 3,937 |
Roofing | 1,897 |  |  | 1,884 |
Total reportable segments | 9,029 |  |  | 8,420 |
Cash and cash equivalents | 1,099 |  |  | 959 |
Noncurrent deferred income taxes | 16 |  |  | 31 |
Investments in affiliates | 27 |  |  | 45 |
Assets held for sale | 45 |  |  | — |
Corporate property, plant and equipment, other assets and eliminations | 536 |  |  | 560 |
CONSOLIDATED TOTAL ASSETS | $ | 10,752 |  |  | $ | 10,015 |
| December 31,
PROPERTY, PLANT AND EQUIPMENT BY GEOGRAPHIC REGION | 2022 |  | 2021
United States | $ | 2,383 |  |  | $ | 2,262 |
Europe | 541 |  |  | 742 |
Asia-Pacific | 541 |  |  | 608 |
Rest of world | 264 |  |  | 261 |
TOTAL PROPERTY, PLANT AND EQUIPMENT | $ | 3,729 |  |  | $ | 3,873 |
PROVISION FOR DEPRECIATION AND AMORTIZATION The following table summarizes the provision for depreciation and amortization by segment (in millions):
| Twelve Months Ended December 31,
| 2022 |  | 2021 |  | 2020
Reportable Segments |  |  |  |  |
Composites | $ | 175 |  |  | $ | 162 |  |  | $ | 159 |
Insulation | 206 |  |  | 208 |  |  | 201 |
Roofing | 62 |  |  | 59 |  |  | 59 |
Total reportable segments | 443 |  |  | 429 |  |  | 419 |
General corporate depreciation and amortization (a) | 88 |  |  | 73 |  |  | 74 |
CONSOLIDATED PROVISION FOR DEPRECIATION AND AMORTIZATION | $ | 531 |  |  | $ | 502 |  |  | $ | 493 |
(a)In 2022, 2021 and 2020, General corporate depreciation and amortization expense included $26 million, $13 million and $20 million, respectively, of accelerated depreciation related to restructuring actions further explained in Note 13 to the Consolidated Financial Statements. ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT The following table summarizes cash paid for property, plant and equipment by segment (in millions):
| Twelve Months Ended December 31,
| 2022 |  | 2021 |  | 2020
Reportable Segments |  |  |  |  |
Composites | $ | 151 |  |  | $ | 153 |  |  | $ | 95 |
Insulation | 196 |  |  | 144 |  |  | 136 |
Roofing | 50 |  |  | 54 |  |  | 44 |
Total reportable segments | 397 |  |  | 351 |  |  | 275 |
General corporate additions | 49 |  |  | 65 |  |  | 32 |
CONSOLIDATED ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT | $ | 446 |  |  | $ | 416 |  |  | $ | 307 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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