SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Quarter Ended June 30, 1997
Commission File No. 1-3660
Owens Corning
One Owens Corning Parkway
Toledo, Ohio 43659
Area Code (419) 248-8000
A Delaware Corporation
I.R.S. Employer Identification No. 34-4323452
Indicate by check mark whether the Registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes / X / No / /
Shares of common stock, par value $.10 per share,
outstanding at June 30, 1997
53,338,336
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
SEC form 10-Q and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1997
<CASH> 19
<SECURITIES> 0
<RECEIVABLES> 567
<ALLOWANCES> 0
<INVENTORY> 541
<CURRENT-ASSETS> 1,433
<PP&E> 3,470
<DEPRECIATION> 1,789
<TOTAL-ASSETS> 5,076
<CURRENT-LIABILITIES> 1,173
<BONDS> 1,854
<COMMON> 653
194
0
<OTHER-SE> (1,006)
<TOTAL-LIABILITY-AND-EQUITY> 5,076
<SALES> 1,892
<TOTAL-REVENUES> 1,892
<CGS> 1,430
<TOTAL-COSTS> 1,430
<OTHER-EXPENSES> 2
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 42
<INCOME-PRETAX> 140
<INCOME-TAX> 43
<INCOME-CONTINUING> 105
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 105
<EPS-PRIMARY> 1.99<F1>
<EPS-DILUTED> 1.88<F2>
<FN>
<F1> Represents basic earnings per share as defined in FASB Statement 128.
<F2> Represents diluted earnings per share as defined in FASB Statement 128.
</FN>
</TABLE>
