v3.26.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION
3.
SEGMENT INFORMATION
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 September 30, 2026
(In millions)RoofingInsulationDoorsSubtotalEliminationsConsolidated
Disaggregation Categories
North America Residential$859 $378 $422 $1,659 $(35)$1,624 
North America Non-Residential131 417 — 548 (2)546 
Total North America990 795 422 2,207 (37)2,170 
Europe50 206 57 313 — 313 
Asia-Pacific2 — — 2 — 2 
Rest of world— — 4 4 — 4 
NET SALES$1,042 $1,001 $483 $2,526 $(37)$2,489 
Three Months Ended September 30, 2025
(In millions)RoofingInsulationDoorsSubtotalEliminationsConsolidated
Disaggregation Categories
North America Residential$1,070 $374 $482 $1,926 $(39)$1,887 
North America Non-Residential118 372 — 490 (2)488 
Total North America1,188 746 482 2,416 (41)2,375 
Europe50 193 59 302 (1)301 
Asia-Pacific2 — — 2 — 2 
Rest of world— 2 4 6 — 6 
NET SALES$1,240 $941 $545 $2,726 $(42)$2,684 
Nine Months Ended September 30, 2026
(In millions)RoofingInsulationDoorsSubtotalEliminationsConsolidated
Disaggregation Categories
North America Residential$2,785 $1,078 $1,283 $5,146 $(106)$5,040 
North America Non-Residential365 1,145 — 1,510 (7)1,503 
Total North America3,150 2,223 1,283 6,656 (113)6,543 
Europe160 608 176 944 (2)942 
Asia-Pacific5 — — 5 — 5 
Rest of world— 8 12 20 — 20 
NET SALES$3,315 $2,839 $1,471 $7,625 $(115)$7,510 
Nine Months Ended September 30, 2025
(In millions)RoofingInsulationDoorsSubtotalEliminationsConsolidated
Disaggregation Categories
North America Residential$3,166 $1,102 $1,450 $5,718 $(114)$5,604 
North America Non-Residential336 1,077 — 1,413 (7)1,406 
Total North America3,502 2,179 1,450 7,131 (121)7,010 
Europe153 539 173 865 (4)861 
Asia-Pacific8 56 3 67 — 67 
Rest of world— 10 13 23 — 23 
NET SALES$3,663 $2,784 $1,639 $8,086 $(125)$7,961 
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION
The Company identifies the Chief Executive Officer as the 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, plus depreciation and amortization. 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 September 30,Nine Months Ended September 30,
(In millions)2026202520262025
Reportable Segments
Roofing$299 $423 $971 $1,212 
Insulation215 212 595 662 
Doors25 56 116 199 
Total reportable segments539 691 1,682 2,073 
Corporate, Other and Eliminations
Restructuring excluding depreciation(1)(7)(60)(19)
Acquisition-related integration costs excluding depreciation— (9)(9)(15)
Gains on sale of certain precious metals7 14 29 35 
Impairment of investments(33)— (40)— 
Paroc marine recall— — (33)(2)
Gain (Loss) on sale of businesses2 (2)6 (28)
Goodwill impairment(366)(780)(366)(780)
Intangible assets impairment(77)— (77)— 
Gain on sale of site (a)— — 4 — 
General corporate expense and other(50)(53)(164)(167)
Total Corporate, other and eliminations(518)(837)(710)(976)
Depreciation and amortization(173)(182)(522)(513)
Interest expense, net(62)(65)(197)(192)
(LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES$(214)$(393)$253 $392 
(a)This gain relates to the sale of a site that was part of a previous restructuring action in the Roofing segment.
TOTAL ASSETS AND PROPERTY, PLANT AND EQUIPMENT
The following table summarizes total assets by segment:
(In millions)September 30, 2026December 31, 2025
Assets allocated to reportable segments
Roofing$3,536 $3,223 
Insulation4,656 4,548 
Doors2,504 3,234 
Total reportable segments10,696 11,005 
Assets not allocated to reportable segments
Cash and cash equivalents179 345 
Non-current deferred income taxes15 10 
Investments in affiliates28 62 
Corporate property, plant and equipment, other assets and eliminations929 878 
TOTAL ASSETS FROM CONTINUING OPERATIONS$11,847 $12,300 
The following table summarizes total property, plant and equipment, net by geographic region:
(In millions)September 30, 2026December 31, 2025
North America$3,475 $3,421 
Europe636 646 
Asia Pacific59 63 
Rest of world34 40 
PROPERTY, PLANT AND EQUIPMENT, NET FROM CONTINUING OPERATIONS$4,204 $4,170 
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT
The following table summarizes cash paid for property, plant and equipment by segment:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2026202520262025
Reportable Segments
Roofing$63 $46 $189 $174 
Insulation91 65 282 226 
Doors18 18 65 59 
Total reportable segments172 129 536 459 
General corporate additions19 16 59 44 
ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT FROM CONTINUING OPERATIONS$191 $145 $595 $503