v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION
3.
SEGMENT INFORMATION
Effective January 1, 2025, due to a strategic shift in how we manage our business as a result of the GR Agreement, we reorganized our reportable segments to align to our new operating and management structure. The Company now has three reportable segments: Roofing, Insulation and Doors. The Company's vertically integrated glass nonwoven business that supports the Company’s Roofing business and other building products customers, along with its composite lumber business, were integrated into the Roofing segment. Two glass melting plants, which make fiber for the nonwoven business, were integrated into the Insulation segment.
Operating segments are aggregated into reportable segments based on consideration of the following factors: similarity of economic characteristics, the nature of business activities, the management structure directly accountable to our chief operating decision maker ("CODM") for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors and investors. Accounting policies for the segments are the same as those for the Company. The Company’s three reportable segments are defined as follows:
Roofing – Within our Roofing segment, the Company manufactures and sells residential roofing shingles, oxidized asphalt materials, roofing components and composite lumber primarily used in residential construction. Roofing also manufactures and sells glass mat and specialty veil materials used in building and construction applications.
Insulation – Within our Insulation segment, the Company manufactures and sells thermal and acoustical batts, loose fill insulation, spray foam insulation, wet use chopped strand, foam sheathing and accessories. It also manufactures and sells glass fiber pipe insulation, energy efficient flexible duct media, bonded and granulated stone wool insulation, cellular glass insulation, and foam insulation used in above- and below-grade construction applications.
Doors - Within our Doors segment, the Company manufactures and sells interior and exterior doors and door systems, including entry doors, interior doors, and related door components. These products are primarily used in residential construction and remodeling applications.
NET SALES
The following tables show a disaggregation of our net sales by segment and geographic region. Corporate eliminations (shown below) largely reflect intercompany sales from Insulation and Roofing. External customer sales are attributed to geographic region based upon the location from which the product is sold to the external customer.
Three Months Ended March 31, 2026
(In millions)RoofingInsulationDoorsSubtotalEliminationsConsolidated
Disaggregation Categories
North America Residential$803 $346 $413 $1,562 $(34)$1,528 
North America Non-Residential103 332 — 435 (2)433 
Total North America906 678 413 1,997 (36)1,961 
Europe52 185 59 296 (1)295 
Asia-Pacific2 — — 2 — 2 
Rest of world— 4 3 7 — 7 
NET SALES$960 $867 $475 $2,302 $(37)$2,265 
Three Months Ended March 31, 2025
(In millions)RoofingInsulationDoorsSubtotalEliminationsConsolidated
Disaggregation Categories
North America Residential$968 $382 $479 $1,829 $(35)$1,794 
North America Non-Residential100 332 — 432 (2)430 
Total North America1,068 714 479 2,261 (37)2,224 
Europe48 166 56 270 (2)268 
Asia-Pacific4 25 — 29 — 29 
Rest of world— 4 5 9 — 9 
NET SALES$1,120 $909 $540 $2,569 $(39)$2,530 
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION
The Company identifies the Chief Executive Officer as the chief operating decision maker ("CODM"). In applying the criteria set forth in the standards for reporting information about segments in financial statements, we have determined that we have three reportable segments – Roofing, Insulation, and Doors. The key factors used to identify these reportable segments are the organization and alignment of our internal operations and the nature of our products. The CODM uses earnings before interest, taxes, depreciation and amortization (“EBITDA”) for each reportable segment to assess segment performance and make decisions on the allocation of resources. Segment EBITDA targets are established on an annual basis and used by the CODM throughout the year to compare with actual results. Quarterly forecasts supplement annual targets and provide incremental information utilized to assess the performance of a segment. Segment EBITDA variance analysis further provides insight into segment operational cost optimization.
The Company does not regularly provide significant segment expense detail to the CODM. EBITDA by segment consists of net sales less related costs and expenses, which are mainly comprised of cost of sales and marketing and administrative costs. EBITDA is 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 EBITDA for our reportable segments and are included within Corporate, Other and Eliminations.
The following table summarizes EBITDA by segment:
 Three Months Ended March 31,
(In millions)20262025
Reportable Segments
Roofing$231 $332 
Insulation167 225 
Doors34 68 
Total reportable segments432 625 
Corporate, Other and Eliminations
Restructuring excluding depreciation(43)(3)
Acquisition-related integration costs excluding depreciation(9)(2)
Gains on sale of certain precious metals12 9 
Impairment of venture investment(7)— 
Paroc marine recall(32)(1)
Gain (Loss) on sale of businesses4 (2)
General corporate expense and other(63)(60)
Total Corporate, other and eliminations(138)(59)
Depreciation and amortization(174)(159)
Interest expense, net(66)(64)
EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES$54 $343 
TOTAL ASSETS AND PROPERTY, PLANT AND EQUIPMENT
The following table summarizes total assets by segment:
(In millions)March 31, 2026December 31, 2025
Assets allocated to reportable segments
Roofing$3,614 $3,223 
Insulation4,606 4,548 
Doors3,178 3,234 
Total reportable segments11,398 11,005 
Assets not allocated to reportable segments
Cash and cash equivalents272 345 
Non-current deferred income taxes13 10 
Investments in affiliates62 62 
Corporate property, plant and equipment, other assets and eliminations803 878 
TOTAL ASSETS FROM CONTINUING OPERATIONS$12,548 $12,300 
The following table summarizes total property, plant and equipment, net by geographic region:
(In millions)March 31, 2026December 31, 2025
North America$3,387 $3,421 
Europe634 646 
Asia Pacific61 63 
Rest of world39 40 
PROPERTY, PLANT AND EQUIPMENT, NET FROM CONTINUING OPERATIONS$4,121 $4,170 
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT
The following table summarizes cash paid for property, plant and equipment by segment:
 Three Months Ended March 31,
(In millions)20262025
Reportable Segments
Roofing$69 $62 
Insulation102 81 
Doors18 18 
Total reportable segments189 161 
General corporate additions21 21 
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT FROM CONTINUING OPERATIONS$210 $182