XML 216 R24.htm IDEA: XBRL DOCUMENT
v3.23.2

EARNINGS PER SHARE | 6 Months Ended
--- | ---
Jun. 30, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per share (in millions, except per share amounts):
| Three Months Ended June 30, | Six Months Ended June 30,
| 2023 | 2022 | 2023 | 2022
Net earnings attributable to Owens Corning | $ | 345 |  | $ | 343 |  | $ | 728 |  | $ | 647 |
Weighted-average number of shares outstanding used for basic earnings per share | 90.5 |  | 97.6 |  | 90.9 |  | 98.6 |
Non-vested restricted stock units and performance share units | 0.8 |  | 0.8 |  | 0.8 |  | 0.7 |
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share | 91.3 |  | 98.4 |  | 91.7 |  | 99.3 |
Earnings per common share attributable to Owens Corning common stockholders: |  |  |  |
Basic | $ | 3.81 |  | $ | 3.51 |  | $ | 8.01 |  | $ | 6.56 |
Diluted | $ | 3.78 |  | $ | 3.49 |  | $ | 7.94 |  | $ | 6.52 |
For the three and six months ended June 30, 2023 and June 30, 2022, there were no non-vested RSUs or PSUs that had an anti-dilutive effect on earnings per share. The Board of Directors approved two share repurchase programs in 2022 under which the Company is authorized to repurchase up to an aggregate of 20 million shares of the Company’s outstanding common stock (the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion. The Company repurchased 2.6 million shares of its common stock for $250 million, inclusive of applicable taxes, during the six months ended June 30, 2023, under the Repurchase Authorization. As of June 30, 2023, 11.8 million shares remain available for repurchase under the Repurchase Authorization.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration