Louisiana-Pacific (LPX) 8-K LP Reports Fourth Quarter and Year End 2009 Results

Exhibit 99.2

(Dollar amounts in millions)	OSB			Siding			EWP			Other			Corporate			Total
Quarter to Date Ended December 31, 2009
Sales	$	113.7		$	86.2		$	44.1		$	31.1			—		$	275.1
Depreciation and amortization		8.9			4.4			3.1			2.7			0.7			19.8
Cost of sales and selling and administrative		119.6			77.3			49.6			30.4			20.4			297.3
(Gain) loss on sale or impairment of long lived assets														(0.4	)		(0.4	)
Other operating credits and charges, net														8.9			8.9
Total operating costs		128.5			81.7			52.7			33.1			29.6			325.6
Income (loss) from operations		(14.8	)		4.5			(8.6	)		(2.0	)		(29.6	)		(50.5	)
Total non-operating income (expense)														(11.8	)		(11.8	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(14.8	)		4.5			(8.6	)		(2.0	)		(41.4	)		(62.3	)
Provision (benefit) for income taxes														(17.7	)		(17.7	)
Equity in (income) loss of unconsolidated affiliates		2.2			—			0.5			(0.5	)		—			2.2
Income (loss) from continuing operations	$	(17.0	)	$	4.5		$	(9.1	)	$	(1.5	)	$	(23.7	)	$	(46.8	)
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations
Income (loss) from continuing operations	$	(17.0	)	$	4.5		$	(9.1	)	$	(1.5	)	$	(23.7	)	$	(46.8	)
Income tax benefit														(17.7	)		(17.7	)
Investment income														(6.0	)		(6.0	)
Realized gain on long term investments														(18.7	)		(18.7	)
Interest expense, net of capitalized interest														18.3			18.3
Depreciation and amortization		8.9			4.4			3.1			2.7			0.7			19.8
EBITDA from continuing operations		(8.1	)		8.9			(6.0	)		1.2			(47.1	)		(51.0	)
Stock based compensation expense		0.2			0.2			0.1			—			1.4			1.9
(Gain) loss on sale or impairment of long lived assets														(0.4	)		(0.4	)
Other operating credits and charges, net														8.9			8.9
Other than temporary asset impairment														0.2			0.2
Early debt extinguishment														21.1			21.1
Adjusted EBITDA from continuing operations	$	(7.9	)	$	9.1		$	(5.9	)	$	1.2		$	(15.9	)	$	(19.3	)
Quarter to Date Ended December 31, 2008
Sales	$	109.1		$	76.0		$	45.2		$	19.9		$	—		$	250.2
Depreciation and amortization		9.0			3.9			3.9			1.9			1.3			20.0
Cost of sales and selling and administrative		129.0			83.1			53.7			19.6			15.4			300.8
(Gain) loss on sale or impairment of long lived assets														(0.5	)		(0.5	)
Goodwill impairment														273.5			273.5
Other operating credits and charges, net														22.6			22.6
Total operating costs		138.0			87.0			57.6			21.5			312.3			616.4
Income (loss) from operations		(28.9	)		(11.0	)		(12.4	)		(1.6	)		(312.3	)		(366.2	)
Total non-operating income (expense)														(20.3	)		(20.3	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(28.9	)		(11.0	)		(12.4	)		(1.6	)		(332.6	)		(386.5	)
Provision (benefit) for income taxes														(48.3	)		(48.3	)
Equity in (income) loss of unconsolidated affiliates		2.2						(0.5	)		(0.3	)		—			1.4
Income (loss) from continuing operations		(31.1	)		(11.0	)		(11.9	)		(1.3	)		(284.3	)		(339.6	)
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations
Income (loss) from continuing operations		(31.1	)		(11.0	)		(11.9	)		(1.3	)		(284.3	)		(339.6	)
Income tax benefit														(48.3	)		(48.3	)
Investment income														(6.9	)		(6.9	)
Interest expense, net of capitalized interest														12.8			12.8
Depreciation and amortization		9.0			3.9			3.9			1.9			1.3			20.0
EBITDA from continuing operations		(22.1	)		(7.1	)		(8.0	)		0.6			(325.4	)		(362.0	)
Stock based compensation expense		0.3			0.2			0.1			0.1			1.7			2.4
(Gain) loss on sale or impairment of long lived assets														(0.5	)		(0.5	)
Other operating credits and charges, net														22.6			22.6
Other than temporary asset impairment														27.4			27.4
Goodwill impairment														273.5			273.5
Adjusted EBITDA from continuing operations	$	(21.8	)	$	(6.9	)	$	(7.9	)	$	0.7		$	(0.7	)	$	(36.6	)

(Dollar amounts in millions)	OSB			Siding		EWP			Other			Corporate			Total
Year Ended December 31, 2009
Sales	$	406.2		$	373.8	$	157.7		$	117.0		$	—		$	1,054.7
Depreciation and amortization		35.2			18.5		12.2			10.7			3.4			80.0
Cost of sales and selling and administrative		427.9			326.0		177.8			104.1			73.1			1,108.9
(Gain) loss on sale or impairment of long lived assets													(2.5	)		(2.5	)
Other operating credits and charges, net													1.6			1.6
Total operating costs		463.1			344.5		190.0			114.8			75.6			1,188.0
Income (loss) from operations		(56.9	)		29.3		(32.3	)		2.2			(75.6	)		(133.3	)
Total non-operating income (expense)													(36.1	)		(36.1	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(56.9	)		29.3		(32.3	)		2.2			(111.7	)		(169.4	)
Provision (benefit) for income taxes													(63.4	)		(63.4	)
Equity in (income) loss of unconsolidated affiliates		8.7					0.9			1.4						11.0
Income (loss) from continuing operations		(65.6	)		29.3		(33.2	)		0.8			(48.3	)		(117.0	)
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations
Income (loss) from continuing operations		(65.6	)		29.3		(33.2	)		0.8			(48.3	)		(117.0	)
Income tax benefit													(63.4	)		(63.4	)
Realized gain on long term investments													(18.7	)		(18.7	)
Investment income													(26.1	)		(26.1	)
Interest expense, net of capitalized interest													71.6			71.6
Depreciation and amortization		35.2			18.5		12.2			10.7			3.4			80.0
EBITDA from continuing operations		(30.4	)		47.8		(21.0	)		11.5			(81.5	)		(73.6	)
Stock based compensation expense		0.7			0.6		0.5			—			5.6			7.4
(Gain) loss on sale or impairment of long lived assets													(2.5	)		(2.5	)
Other operating credits and charges, net													1.6			1.6
Other than temporary asset impairment													2.0			2.0
Early debt extinguishment													20.7			20.7
Adjusted EBITDA from continuing operations	$	(29.7	)	$	48.4	$	(20.5	)	$	11.5		$	(54.1	)	$	(44.4	)
Year Ended December 31, 2008
Sales	$	621.5		$	423.8	$	234.5		$	96.4		$	—		$	1,376.2
Depreciation and amortization		49.6			20.5		15.8			9.0			5.5			100.4
Cost of sales and selling and administrative		715.8			400.5		259.4			90.9			80.0			1,546.6
(Gain) loss on sale or impairment of long lived assets													9.0			9.0
Goodwill impairment													273.5			273.5
Other operating credits and charges, net													90.3			90.3
Total operating costs		765.4			421.0		275.2			99.9			458.3			2,019.8
Loss from operations		(143.9	)		2.8		(40.7	)		(3.5	)		(458.3	)		(643.6	)
Total non-operating income (expense)													(109.7	)		(109.7	)
Income (loss) before income taxes and equity in earnings of unconsolidated affiliates		(143.9	)		2.8		(40.7	)		(3.5	)		(568.0	)		(753.3	)
Provision (benefit) for income taxes													(202.0	)		(202.0	)
Equity in (income) loss of unconsolidated affiliates		11.3					(0.5	)		3.2						14.0
Income (loss) from continuing operations		(155.2	)		2.8		(40.2	)		(6.7	)		(366.0	)		(565.3	)
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations
Income (loss) from continuing operations		(155.2	)		2.8		(40.2	)		(6.7	)		(366.0	)		(565.3	)
Income tax benefit													(202.0	)		(202.0	)
Investment income													(38.4	)		(38.4	)
Interest expense, net of capitalized interest													49.1			49.1
Depreciation and amortization		49.6			20.5		15.8			9.0			5.5			100.4
EBITDA from continuing operations		(105.6	)		23.3		(24.4	)		2.3			(551.8	)		(656.2	)
Stock based compensation expense		1.3			0.7		0.6			0.1			7.0			9.7
(Gain) loss on sale or impairment of long lived assets													9.0			9.0
Other operating credits and charges, net													90.3			90.3
Other than temporary asset impairment													118.6			118.6
Goodwill impairment													273.5			273.5
Adjusted EBITDA from continuing operations	$	(104.3	)	$	24.0	$	(23.8	)	$	2.4		$	(53.4	)	$	(155.1	)