Owens Corning Leases Disclosure
| (In millions) | December 31, | ||||||||||
| Leases | Location | 2025 | 2024 | ||||||||
| Assets | |||||||||||
| Operating lease assets for continuing operations | Operating lease right-of-use assets | $ | 507 | $ | 411 | ||||||
| Operating lease assets for discontinued operations | Non-current assets of discontinued operations | 16 | 3 | ||||||||
| Finance lease assets for continuing operations | Other non-current assets | 291 | 259 | ||||||||
| Finance lease assets for discontinued operations | Non-current assets of discontinued operations | 47 | 51 | ||||||||
| Total lease assets | $ | 861 | $ | 724 | |||||||
| Liabilities | |||||||||||
| Current | |||||||||||
| Operating lease liabilities for continuing operations | Current operating lease liabilities | $ | 83 | $ | 83 | ||||||
| Operating lease liabilities for discontinued operations | Current liabilities of discontinued operations | 5 | 4 | ||||||||
| Finance lease liabilities for continuing operations | 36 | 32 | |||||||||
| Finance lease liabilities for discontinued operations | 6 | 6 | |||||||||
| Non-current | |||||||||||
| Operating lease liabilities for continuing operations | Non-current operating lease liabilities | 450 | 348 | ||||||||
| Operating lease liabilities for discontinued operations | Non-current liabilities of discontinued operations | 33 | 27 | ||||||||
| Finance lease liabilities for continuing operations | 273 | 236 | |||||||||
| Finance lease liabilities for discontinued operations | 36 | 48 | |||||||||
| Total lease liabilities | $ | 922 | $ | 784 | |||||||
Twelve Months Ended December 31, | |||||||||||
| (In millions) | 2025 | 2024 | 2023 | ||||||||
| Operating lease cost | $ | 124 | $ | 103 | $ | 81 | |||||
| Finance lease cost | |||||||||||
| Amortization of right-of-use assets | $ | 43 | $ | 45 | $ | 35 | |||||
| Interest on lease liabilities | $ | 17 | $ | 11 | $ | 6 | |||||
| Short-term lease cost | $ | 9 | $ | 8 | $ | 6 | |||||
| Variable lease cost | $ | 14 | $ | 11 | $ | 8 | |||||
| December 31, | |||||||||||
| Weighted-average remaining lease term (years) | 2025 | 2024 | 2023 | ||||||||
| Operating leases | 8.2 | 8.2 | 4.6 | ||||||||
| Finance leases | 12.9 | 13.6 | 9.5 | ||||||||
| December 31, | |||||||||||
| Weighted-average discount rate | 2025 | 2024 | 2023 | ||||||||
| Operating leases | 5.33 | % | 5.22 | % | 3.79 | % | |||||
| Finance leases | 4.94 | % | 4.88 | % | 4.02 | % | |||||
| Continuing Operations | Discontinued Operations | |||||||||||||
| (In millions) | Operating Leases | Finance Leases | Operating Leases | Finance Leases | ||||||||||
| Fiscal Year: | ||||||||||||||
| 2026 | $ | 110 | $ | 52 | $ | 6 | $ | 8 | ||||||
| 2027 | 99 | 45 | 5 | 7 | ||||||||||
| 2028 | 89 | 40 | 4 | 6 | ||||||||||
| 2029 | 74 | 29 | 4 | 5 | ||||||||||
| 2030 | 54 | 24 | 4 | 4 | ||||||||||
| 2031 and beyond | 237 | 240 | 26 | 24 | ||||||||||
| Total minimum lease payments | 663 | 430 | 49 | 54 | ||||||||||
| Less: implied interest | 130 | 121 | 11 | 12 | ||||||||||
| Present value of future minimum lease payments | 533 | 309 | 38 | 42 | ||||||||||
| Less: current lease obligations | 83 | 36 | 5 | 6 | ||||||||||
| Long-term lease obligations | $ | 450 | $ | 273 | $ | 33 | $ | 36 | ||||||
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About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.