$OC
Owens Corning

2011 Q4 Form 10-Q Financial Statement

#000119312511281159 Filed on October 26, 2011

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2010 Q3
Revenue $1.196B $1.450B $1.186B
YoY Change 2.4% 22.26% -12.02%
Cost Of Revenue $966.0M $1.133B $950.0M
YoY Change -0.21% 19.26% -11.05%
Gross Profit $230.0M $317.0M $236.0M
YoY Change 15.0% 34.32% -15.71%
Gross Profit Margin 19.23% 21.86% 19.9%
Selling, General & Admin $130.0M $119.0M $123.0M
YoY Change -0.76% -3.25% -12.14%
% of Gross Profit 56.52% 37.54% 52.12%
Research & Development $19.00M $20.00M $19.00M
YoY Change -9.52% 5.26% 26.67%
% of Gross Profit 8.26% 6.31% 8.05%
Depreciation & Amortization $75.00M $78.00M $83.00M
YoY Change -3.85% -6.02% 3.75%
% of Gross Profit 32.61% 24.61% 35.17%
Operating Expenses $142.0M $140.0M $167.0M
YoY Change -46.62% -16.17% 4.38%
Operating Profit $88.00M $177.0M $69.00M
YoY Change -233.33% 156.52% -42.5%
Interest Expense $27.00M $28.00M $28.00M
YoY Change 8.0% 0.0% -6.67%
% of Operating Profit 30.68% 15.82% 40.58%
Other Income/Expense, Net
YoY Change
Pretax Income $61.00M $149.0M $41.00M
YoY Change -163.54% 263.41% -54.44%
Income Tax $11.00M $23.00M -$19.00M
% Of Pretax Income 18.03% 15.44% -46.34%
Net Earnings $50.00M $124.0M $58.00M
YoY Change -145.45% 113.79% -27.5%
Net Earnings / Revenue 4.18% 8.55% 4.89%
Basic Earnings Per Share $0.41 $1.02 $0.46
Diluted Earnings Per Share $0.41 $1.01 $0.46
COMMON SHARES
Basic Shares Outstanding 123.4M shares 121.7M shares 125.1M shares
Diluted Shares Outstanding 122.6M shares 126.6M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.00M $50.00M $35.00M
YoY Change 0.0% 42.86% -90.96%
Cash & Equivalents $52.00M $50.00M $35.00M
Short-Term Investments
Other Short-Term Assets $179.0M $214.0M $172.0M
YoY Change 2.87% 24.42% 23.74%
Inventory $795.0M $746.0M $687.0M
Prepaid Expenses
Receivables $610.0M $783.0M $625.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.636B $1.793B $1.537B
YoY Change 16.19% 16.66% -21.18%
LONG-TERM ASSETS
Property, Plant & Equipment $2.904B $2.839B $2.751B
YoY Change 5.45% 3.2% -1.4%
Goodwill
YoY Change
Intangibles $1.073B $1.079B $1.158B
YoY Change -1.56% -6.82%
Long-Term Investments
YoY Change
Other Assets $232.0M $293.0M $255.0M
YoY Change -11.79% 14.9% 10.87%
Total Long-Term Assets $5.891B $5.873B $5.828B
YoY Change 2.45% 0.77% 9.53%
TOTAL ASSETS
Total Short-Term Assets $1.636B $1.793B $1.537B
Total Long-Term Assets $5.891B $5.873B $5.828B
Total Assets $7.527B $7.666B $7.365B
YoY Change 5.16% 4.09% 1.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $488.0M $960.0M $931.0M
YoY Change 2.95% 3.11% 0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $28.00M $221.0M $3.000M
YoY Change 2700.0% 7266.67% -75.0%
Long-Term Debt Due $4.000M $3.000M $4.000M
YoY Change -20.0% -25.0% -60.0%
Total Short-Term Liabilities $908.0M $1.184B $947.0M
YoY Change -4.92% 25.03% -4.44%
LONG-TERM LIABILITIES
Long-Term Debt $1.930B $1.832B $1.721B
YoY Change 18.48% 6.45% -21.49%
Other Long-Term Liabilities $195.0M $203.0M $134.0M
YoY Change 42.34% 51.49% -82.18%
Total Long-Term Liabilities $2.125B $2.035B $134.0M
YoY Change 20.33% 1418.66% -95.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $908.0M $1.184B $947.0M
Total Long-Term Liabilities $2.125B $2.035B $134.0M
Total Liabilities $3.033B $3.219B $1.081B
YoY Change 11.47% 197.78% -75.55%
SHAREHOLDERS EQUITY
Retained Earnings $470.0M $420.0M $304.0M
YoY Change 142.27% 38.16%
Common Stock $10.00M
YoY Change 233.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $362.0M $362.0M $207.0M
YoY Change 58.08% 74.88%
Treasury Stock Shares 13.50M shares 13.50M shares 8.600M shares
Shareholders Equity $3.701B $3.742B $3.803B
YoY Change
Total Liabilities & Shareholders Equity $7.527B $7.666B $7.365B
YoY Change 5.16% 4.09% 1.29%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2010 Q3
OPERATING ACTIVITIES
Net Income $50.00M $124.0M $58.00M
YoY Change -145.45% 113.79% -27.5%
Depreciation, Depletion And Amortization $75.00M $78.00M $83.00M
YoY Change -3.85% -6.02% 3.75%
Cash From Operating Activities $230.0M $193.0M $147.0M
YoY Change 11.11% 31.29% -59.95%
INVESTING ACTIVITIES
Capital Expenditures -$139.0M -$93.00M -$78.00M
YoY Change 20.87% 19.23% 39.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$78.00M $2.000M
YoY Change -100.0% -4000.0% -89.47%
Cash From Investing Activities -$139.0M -$171.0M -$76.00M
YoY Change 110.61% 125.0% 105.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -91.00M 0.000 -68.00M
YoY Change -28.91% -100.0% 19.3%
NET CHANGE
Cash From Operating Activities 230.0M 193.0M 147.0M
Cash From Investing Activities -139.0M -171.0M -76.00M
Cash From Financing Activities -91.00M 0.000 -68.00M
Net Change In Cash 0.000 22.00M 3.000M
YoY Change -100.0% 633.33% -98.9%
FREE CASH FLOW
Cash From Operating Activities $230.0M $193.0M $147.0M
Capital Expenditures -$139.0M -$93.00M -$78.00M
Free Cash Flow $369.0M $286.0M $225.0M
YoY Change 14.6% 27.11% -46.81%

Facts In Submission

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us-gaap Increase Decrease In Postretirement Obligations
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us-gaap Increase Decrease In Other Operating Capital Net
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-14000000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Net Cash Provided By Used In Operating Activities
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281000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
303000000 USD
us-gaap Payments To Acquire Productive Assets
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199000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Long Term Lines Of Credit
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805000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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406000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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629000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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315000000 USD
us-gaap Repayments Of Long Term Debt
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10000000 USD
us-gaap Repayments Of Long Term Debt
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606000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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219000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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265000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-20000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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-2000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Proceeds From Issuance Of Long Term Debt
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6000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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1000000 USD
oc Provision For Pension And Other Employee Benefits Liabilities
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CY2009Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
564000000 USD
CY2010Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35000000 USD
oc Provision For Pension And Other Employee Benefits Liabilities
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
138000000 USD
oc Proceeds From Sale Of Assets Or Affiliates
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16000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
12000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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2000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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59000000 USD
oc Proceeds From Sale Of Assets Or Affiliates
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81000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
102000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
84000000 USD
oc Acquisition Integration And Transaction Costs
AcquisitionIntegrationAndTransactionCosts
6000000 USD
CY2010Q3 oc Net Precious Metal Lease Expense
NetPreciousMetalLeaseExpense
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oc Net Precious Metal Lease Expense
NetPreciousMetalLeaseExpense
1000000 USD
oc Net Precious Metal Lease Expense
NetPreciousMetalLeaseExpense
0 USD
CY2010Q3 oc Gain Loss On Sale Of Assets And Other Expenses
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0 USD
oc Prior Period Adjustment Revenue Pre Tax
PriorPeriodAdjustmentRevenuePreTax
2000000 USD
oc Prior Period Adjustment Revenue After Tax
PriorPeriodAdjustmentRevenueAfterTax
3000000 USD
CY2011Q3 oc Income Loss From Operations Before Interest And Taxes Attributable To Segments
IncomeLossFromOperationsBeforeInterestAndTaxesAttributableToSegments
193000000 USD
CY2010Q3 oc Income Loss From Operations Before Interest And Taxes Attributable To Segments
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110000000 USD
oc Income Loss From Operations Before Interest And Taxes Attributable To Segments
IncomeLossFromOperationsBeforeInterestAndTaxesAttributableToSegments
429000000 USD
oc Income Loss From Operations Before Interest And Taxes Attributable To Segments
IncomeLossFromOperationsBeforeInterestAndTaxesAttributableToSegments
388000000 USD
CY2010Q3 oc Acquisition Integration And Transaction Costs
AcquisitionIntegrationAndTransactionCosts
4000000 USD
oc Acquisition Integration And Transaction Costs
AcquisitionIntegrationAndTransactionCosts
0 USD
oc Gain Loss On Sale Of Assets And Other Expenses
GainLossOnSaleOfAssetsAndOtherExpenses
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oc Gain Loss On Sale Of Assets And Other Expenses
GainLossOnSaleOfAssetsAndOtherExpenses
0 USD
CY2011Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1188000000 USD
CY2011Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
109000000 USD
CY2010Q3 oc General Corporate Expense
GeneralCorporateExpense
20000000 USD
oc General Corporate Expense
GeneralCorporateExpense
55000000 USD
oc General Corporate Expense
GeneralCorporateExpense
71000000 USD
CY2010Q3 oc Restructuring Charges And Related Items
RestructuringChargesAndRelatedItems
16000000 USD
oc Restructuring Charges And Related Items
RestructuringChargesAndRelatedItems
17000000 USD
oc Restructuring Charges And Related Items
RestructuringChargesAndRelatedItems
33000000 USD
CY2011Q3 oc Restructuring Charges And Related Items
RestructuringChargesAndRelatedItems
0 USD
CY2011Q3 oc Acquisition Integration And Transaction Costs
AcquisitionIntegrationAndTransactionCosts
0 USD
CY2011Q3 oc Net Precious Metal Lease Expense
NetPreciousMetalLeaseExpense
0 USD
CY2011Q3 oc Gain Loss On Sale Of Assets And Other Expenses
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0 USD
CY2011Q3 oc General Corporate Expense
GeneralCorporateExpense
16000000 USD
CY2011Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
537000000 USD
CY2011Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
209000000 USD
CY2010Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
452000000 USD
CY2010Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
168000000 USD
CY2010Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1182000000 USD
CY2010Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
92000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
59000000 USD
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
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us-gaap Finite Lived Intangible Assets Future Amortization Expense
FiniteLivedIntangibleAssetsFutureAmortizationExpense
21000000 USD
CY2011Q3 us-gaap Business Acquisition Cost Of Acquired Entity Liabilities Incurred
BusinessAcquisitionCostOfAcquiredEntityLiabilitiesIncurred
21000000 USD
CY2011Q3 us-gaap Business Acquisition Purchase Price Allocation Property Plant And Equipment
BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment
37000000 USD
CY2011Q3 us-gaap Business Acquisition Purchase Price Allocation Amortizable Intangible Assets
BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets
3000000 USD
CY2011Q3 oc Business Acquisition Purchase Price Allocation Working Capital
BusinessAcquisitionPurchasePriceAllocationWorkingCapital
6000000 USD
CY2011Q3 us-gaap Business Acquisition Purchase Price Allocation Goodwill Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillAmount
59000000 USD
CY2011Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4030000000 USD
CY2011Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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1191000000 USD
CY2010Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3771000000 USD
CY2010Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1017000000 USD
CY2011Q3 oc Precious Metals Depletion Percentage
PreciousMetalsDepletionPercentage
0.03 pure
CY2010Q4 oc Precious Metals Percentage
PreciousMetalsPercentage
0.21 pure
CY2011Q3 oc Precious Metals Percentage
PreciousMetalsPercentage
0.2 pure
us-gaap Business Acquisition Effective Date Of Acquisition
BusinessAcquisitionEffectiveDateOfAcquisition
July 31, 2011
CY2011Q3 us-gaap Business Acquisition Cost Of Acquired Entity Purchase Price
BusinessAcquisitionCostOfAcquiredEntityPurchasePrice
105000000 USD
CY2011Q3 us-gaap Business Acquisition Cost Of Acquired Entity Cash Paid
BusinessAcquisitionCostOfAcquiredEntityCashPaid
84000000 USD
CY2011Q3 oc Business Acquisition Cost Of Acquired Entity Deferred Payments
BusinessAcquisitionCostOfAcquiredEntityDeferredPayments
25000000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
15000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12000000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
38000000 USD
CY2011Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
41000000 USD
CY2011Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
16000000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
33000000 USD
CY2011Q3 us-gaap Severance Costs
SeveranceCosts
15000000 USD
us-gaap Severance Costs
SeveranceCosts
24000000 USD
CY2011Q3 oc Accelerated Depreciation
AcceleratedDepreciation
1000000 USD
oc Accelerated Depreciation
AcceleratedDepreciation
9000000 USD
CY2010Q4 oc Effect Of Interest Rate Swap On Senior Notes
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15000000 USD
CY2010Q4 us-gaap Long Term Debt
LongTermDebt
1634000000 USD
CY2010Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5000000 USD
CY2010Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1629000000 USD
CY2011Q3 oc Effect Of Interest Rate Swap On Senior Notes
EffectOfInterestRateSwapOnSeniorNotes
44000000 USD
CY2011Q3 us-gaap Long Term Debt
LongTermDebt
1835000000 USD
CY2011Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
3000000 USD
CY2010Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Service Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansServiceCost
1000000 USD
CY2011Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Interest Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansInterestCost
4000000 USD
CY2010Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Interest Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansInterestCost
4000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Interest Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansInterestCost
11000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Interest Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansInterestCost
12000000 USD
CY2011Q3 oc Interest Rate Swap Agreement Principal Amount
InterestRateSwapAgreementPrincipalAmount
500000000 USD
CY2011Q3 oc Receivables Purchase Agreement Principal Amount
ReceivablesPurchaseAgreementPrincipalAmount
250000000 USD
CY2011Q3 oc Receivables Purchase Agreement Amount Outstanding
ReceivablesPurchaseAgreementAmountOutstanding
202000000 USD
CY2011Q3 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.009 pure
CY2010Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.025 pure
oc Receivables Purchase Agreement Expiration Date
ReceivablesPurchaseAgreementExpirationDate
March 29, 2012
CY2011Q3 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
43000000 USD
CY2011Q3 oc Defined Pension Plan Service Cost
DefinedPensionPlanServiceCost
3000000 USD
CY2010Q3 oc Defined Pension Plan Service Cost
DefinedPensionPlanServiceCost
4000000 USD
oc Defined Pension Plan Service Cost
DefinedPensionPlanServiceCost
10000000 USD
oc Defined Pension Plan Service Cost
DefinedPensionPlanServiceCost
11000000 USD
CY2011Q3 oc Defined Pension Plan Interest Cost
DefinedPensionPlanInterestCost
18000000 USD
CY2010Q3 oc Defined Pension Plan Interest Cost
DefinedPensionPlanInterestCost
19000000 USD
oc Defined Pension Plan Interest Cost
DefinedPensionPlanInterestCost
58000000 USD
oc Defined Pension Plan Interest Cost
DefinedPensionPlanInterestCost
59000000 USD
CY2011Q3 oc Defined Pension Plan Expected Return On Plan Assets
DefinedPensionPlanExpectedReturnOnPlanAssets
21000000 USD
CY2010Q3 oc Defined Pension Plan Expected Return On Plan Assets
DefinedPensionPlanExpectedReturnOnPlanAssets
22000000 USD
oc Defined Pension Plan Expected Return On Plan Assets
DefinedPensionPlanExpectedReturnOnPlanAssets
67000000 USD
oc Defined Pension Plan Expected Return On Plan Assets
DefinedPensionPlanExpectedReturnOnPlanAssets
66000000 USD
CY2011Q3 oc Defined Pension Plan Amortization Of Gains Losses
DefinedPensionPlanAmortizationOfGainsLosses
-3000000 USD
CY2010Q3 oc Defined Pension Plan Amortization Of Gains Losses
DefinedPensionPlanAmortizationOfGainsLosses
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oc Defined Pension Plan Amortization Of Gains Losses
DefinedPensionPlanAmortizationOfGainsLosses
-10000000 USD
oc Defined Pension Plan Amortization Of Gains Losses
DefinedPensionPlanAmortizationOfGainsLosses
-3000000 USD
CY2011Q3 oc Defined Pension Plan Net Periodic Benefit Cost
DefinedPensionPlanNetPeriodicBenefitCost
3000000 USD
CY2010Q3 oc Defined Pension Plan Net Periodic Benefit Cost
DefinedPensionPlanNetPeriodicBenefitCost
3000000 USD
oc Defined Pension Plan Net Periodic Benefit Cost
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11000000 USD
oc Defined Pension Plan Net Periodic Benefit Cost
DefinedPensionPlanNetPeriodicBenefitCost
7000000 USD
oc Defined Pension Plan Contributions By Employer
DefinedPensionPlanContributionsByEmployer
104000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Service Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansServiceCost
2000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Service Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansServiceCost
3000000 USD
CY2011Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Service Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansServiceCost
0 USD
CY2011Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Net Periodic Benefit Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansNetPeriodicBenefitCost
4000000 USD
CY2010Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Net Periodic Benefit Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansNetPeriodicBenefitCost
5000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Net Periodic Benefit Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansNetPeriodicBenefitCost
12000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Net Periodic Benefit Cost
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansNetPeriodicBenefitCost
14000000 USD
CY2011Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Amortization Of Gains Losses
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansAmortizationOfGainsLosses
0 USD
CY2010Q3 oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Amortization Of Gains Losses
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansAmortizationOfGainsLosses
0 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Amortization Of Gains Losses
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansAmortizationOfGainsLosses
1000000 USD
oc Defined Postemployment And Postretirement Benefits Other Than Pension Plans Amortization Of Gains Losses
DefinedPostemploymentAndPostretirementBenefitsOtherThanPensionPlansAmortizationOfGainsLosses
1000000 USD
CY2011Q3 oc Environmental Liability Sites
EnvironmentalLiabilitySites
21 Number
CY2011Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
9000000 USD
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
123000000 EUR
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3600000 shares
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6000000 USD
CY2010Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11000000 USD
CY2010Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3397858 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
412200 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-363413 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-111525 shares
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3335120 shares
CY2010Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
25.06
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
33.98
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
26.19
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.82
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.18
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1070000000 USD
CY2011Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2000000 USD
CY2010Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3000000 USD
CY2011Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
600000 shares
CY2010Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1300000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
600000 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
1100000 shares
CY2011Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
300000 shares
CY2010Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
200000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
400000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
200000 shares
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
122600000 shares
CY2010Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
126600000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
124200000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
127400000 shares
CY2011Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-84000000 USD
CY2010Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
75000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-23000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
22000000 USD
CY2011Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
2000000 USD
CY2010Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
-1000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
1000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
-1000000 USD
CY2011Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
-3000000 USD
CY2010Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
0 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
-1000000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
0 USD
CY2011Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
41000000 USD
CY2010Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
135000000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
207000000 USD
CY2011Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.15 pure
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
4000000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
5000000 USD
CY2011Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
39000000 USD
CY2010Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
132000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
203000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1065000000 USD
CY2011Q3 us-gaap Derivative Assets
DerivativeAssets
43000000 USD
CY2011Q3 us-gaap Derivative Financial Instruments Liabilities Fair Value Disclosure
DerivativeFinancialInstrumentsLiabilitiesFairValueDisclosure
-4000000 USD
CY2011Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
43000000 USD
CY2011Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
-4000000 USD
CY2010Q4 oc Assets And Liabilities Fair Value Disclosure
AssetsAndLiabilitiesFairValueDisclosure
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CY2011Q3 oc Assets And Liabilities Fair Value Disclosure
AssetsAndLiabilitiesFairValueDisclosure
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us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
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0 USD
CY2011Q3 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
47000000 USD
CY2011Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
256000000 USD
oc Federal Statutory Income Tax Rate
FederalStatutoryIncomeTaxRate
0.35 pure
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
858000000 USD
us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
854000000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.22 pure
oc Adjusted Effective Income Tax Rate Continuing Operations
AdjustedEffectiveIncomeTaxRateContinuingOperations
0.28 pure
CY2011Q3 oc Accounting Pronouncements
AccountingPronouncements
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;ACCOUNTING PRONOUNCEMENTS</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;">In September 2011, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued updated guidance on the periodic testing of goodwill for impairment. The updated guidance gives companies the option to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The </font><font style="font-family:Times New Roman;font-size:10pt;">amendment is intended to reduce the cost and complexity of the annual goodwill impairment test by providing entities an option to perform a qualitative assessment to determine whether further impairment testing is necessary. </font><font style="font-family:Times New Roman;font-size:10pt;">The updated accounting guidance is effective for fiscal years beginning after December 15, 2011, with early adoption permitted. The Company currently belie</font><font style="font-family:Times New Roman;font-size:10pt;">ves there will be no</font><font style="font-family:Times New Roman;font-size:10pt;"> impact on its con</font><font style="font-family:Times New Roman;font-size:10pt;">solidated financial statements.</font></p>

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