Louisiana-Pacific (LPX) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Entity Information [Line Items]
Entity Registrant Name	LOUISIANA-PACIFIC CORP
Entity Central Index Key	60,519
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	142,155,014

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 474.8	$ 434.7
Receivables, net of allowance for doubtful accounts of $1.1 million at June 30, 2016 and $1.0 million at December 31, 2015	151.4	96.4
Inventories	231.6	222
Prepaid expenses and other current assets	9.3	7
Assets held for sale	9	9
Total current assets	876.1	769.1
Timber and timberlands	51	53.1
Property, plant and equipment, at cost	2,434.7	2,392.5
Accumulated depreciation	(1,579.3)	(1,530.1)
Net property, plant and equipment	855.4	862.4
Goodwill	9.7	9.7
Notes receivable from asset sales	432.2	432.2
Investments in and advance to affiliates	7.4	7.7
Restricted cash	15	14.3
Other assets	22.9	23
Long-term deferred tax asset	4.2	4.8
Total assets	2,273.9	2,176.3
LIABILITIES AND EQUITY
Current portion of long-term debt	2.1	2.1
Accounts payable and accrued liabilities	173.5	139.6
Current portion of contingency reserves	1.3	1.3
Total current liabilities	176.9	143
Long-term debt, excluding current portion	745.2	751.8
Deferred income taxes	97.6	99.5
Contingency reserves, excluding current portion	14.9	15.5
Other long-term liabilities	155	149.5
Stockholders' equity:
Common stock, $1 par value, 200,000,000 shares authorized, 153,147,190, and 152,979,708 shares issued	153.1	153
Additional paid-in capital	475.2	496.5
Retained earnings	782.5	724.2
Treasury stock, 9,154,540 shares and 9.995,456 shares, at cost	(191.4)	(210.6)
Accumulated comprehensive loss	(135.1)	(146.1)
Total stockholders' equity	1,084.3	1,017
Total liabilities and stockholders' equity	$ 2,273.9	$ 2,176.3

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Allowance for doubtful accounts	$ 1.1	$ 1

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net sales	$ 582.4	$ 493	$ 1,087	$ 964.7
Operating costs and expenses:
Cost of sales	443.1	443.4	858.6	871.2
Depreciation and amortization	28.5	25.3	56.4	52
Selling and administrative	46.5	37.9	88.8	76.6
Loss on sale or impairment of long-lived assets, net	0.7	0.5	0.7	0.6
Other operating credits and charges, net	11.4	0	11.4	11.6
Total operating costs and expenses	530.2	507.1	1,015.9	1,012
Income (loss) from operations	52.2	(14.1)	71.1	(47.3)
Non-operating income (expense):
Interest expense, net of capitalized interest	(9.3)	(7.2)	(17.3)	(14.7)
Interest income	2.1	1	3.9	2.4
Other non-operating items	1.4	0.4	1.9	(1.8)
Total non-operating income (expense)	(5.8)	(5.8)	(11.5)	(14.1)
Income (loss) before taxes and equity in income of unconsolidated affiliates	46.4	(19.9)	59.6	(61.4)
Provision (benefit) for income taxes	16.2	1	20.6	(5.3)
Equity in income of unconsolidated affiliates	(1.5)	(1.4)	(3)	(2.1)
Net Income (loss)	$ 31.7	$ (19.5)	$ 42	$ (54)
Income (loss) per share of common stock (basic and diluted):
Net income (loss) per share - basic	$ 0.22	$ (0.14)	$ 0.29	$ (0.38)
Net income (loss) per share - diluted	$ 0.22	$ (0.14)	$ 0.29	$ (0.38)
Weighted average number of shares outstanding - basic	143.4	142.3	143.1	142.1
Weighted average number of shares outstanding - diluted	145.2	142.3	145.1	142.1

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income (loss)	$ 31.7	$ (19.5)	$ 42	$ (54)
Other comprehensive income (loss)
Foreign currency translation adjustments	4.1	(0.1)	10.2	(7.9)
Unrealized loss on investments, net of tax	(0.2)	0	(0.2)	0
Change benefit obligations, translation adjustment	0.1	0	(0.9)	0.3
Amortization of amounts included in net periodic benefit cost, net of tax	0.8	1	1.9	2.3
Other	0	0	0	0.1
Other comprehensive income (loss)	4.8	0.9	11	(5.2)
Comprehensive income (loss)	36.5	(18.6)	53	(59.2)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
Other comprehensive income (loss)
Amortization of amounts included in net periodic benefit cost, net of tax	0	0	0.1	0.1
Other comprehensive income (loss)	0	0	0.1	0.1
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Other comprehensive income (loss)
Amortization of amounts included in net periodic benefit cost, net of tax	0.8	1	1.8	2.2
Other comprehensive income (loss)	$ 0.9	$ 1	$ 0.9	$ 2.5

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (loss)	$ 31.7	$ (19.5)	$ 42	$ (54)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	28.5	25.3	56.4	52
Equity in income from unconsolidated affiliates, including dividends	(0.2)	(1.4)	0.3	(2.1)
Loss on sale or impairment of long-lived assets, net	0.7	0.5	0.7	0.6
Other operating credits and charges, net	11.4	0	11.4	11.6
Stock-based compensation related to stock plans	3.2	2.7	6.2	5.1
Exchange loss on remeasurement	(0.8)	0.7	(0.7)	4.3
Cash settlement of contingencies, net of accruals	(0.4)	0	(0.7)	0.5
Product warranty payments, net of accruals	(3.3)	(2.4)	(6.8)	(5.4)
Pension expense, net of contributions	1	2.4	1.4	4.4
Non-cash interest (income) expense, net	(0.2)	(0.1)	0.2	(0.1)
Other adjustments, net	0	0.6	0	0.8
(Increase) decrease in receivables	(3.3)	14.3	(51.1)	(16.6)
(Increase) decrease in inventories	18.9	37.3	(8)	3.1
(Increase) decrease in prepaid expenses and other current assets	(3.7)	(1.2)	(2.6)	0.8
Increase (decrease) in accounts payable and accrued liabilities	10.3	(21.4)	36.3	(4.2)
Increase (decrease) in income taxes	9.9	3.7	13.8	(3.3)
Increase in other operating liabilities	5.4	0	5.4	0
Net cash provided by (used in) operating activities	109.1	41.5	104.2	(2.5)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(24.8)	(18.6)	(51.1)	(33.5)
Proceeds from sales of assets	0.1	0	0.1	0.4
Increase in restricted cash under letters of credit/credit facility	(0.3)	(5.4)	(0.3)	(5.4)
Other investing activities	(0.3)	0	(0.2)	0
Net cash used in investing activities	(25.3)	(24)	(51.5)	(38.5)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	(6.8)	0	(7.9)	(1.4)
Sale of common stock, net of cash payments under equity plans	(0.2)	0.3	(0.1)	0.4
Taxes paid related to net share settlement of equity awards	(7.2)	(2.9)	(8.1)	(5.3)
Net cash used in financing activities	(14.2)	(2.6)	(16.1)	(6.3)
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS	1	(2.2)	3.5	(4.4)
Net increase (decrease) in cash and cash equivalents	70.6	12.7	40.1	(51.7)
Cash and cash equivalents at beginning of period	404.2	468.3	434.7	532.7
Cash and cash equivalents at end of period	$ 474.8	$ 481	$ 474.8	$ 481

Basis For Presentation

Basis For Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis for Presentation	BASIS FOR PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments) necessary to present fairly, in all material respects, the consolidated financial position, results of operations and cash flows of LP and its subsidiaries for the interim periods presented. Results of operations for interim periods are not necessarily indicative of results to be expected for an entire year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in LP’s Annual Report on Form 10-K for the year ended December 31, 2015 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	STOCK-BASED COMPENSATION LP has a Management Incentive Plan (MIP) that is administered by the Compensation Committee of the Board of Directors. The Compensation Committee authorizes the grants of restricted stock, restricted stock units, performance share awards payable in stock upon the attainment of specified performance goals, stock options, stock settled stock appreciation rights (SSAR), other stock-based awards and cash-based awards at the discretion of the Compensation Committee. A detailed discussion of this is presented in Note 15 to the consolidated financial statements included in LP's Annual Report on Form 10-K for the fiscal year ended December 31, 2015. As of June 30, 2016 , 3.1 million shares were available for grant under the 2013 Omnibus Plan. Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Total stock-based compensation expense (costs of sales and general and administrative) $ 3.2 $ 2.7 $ 6.2 $ 5.1 Income tax benefit related to stock-based compensation $ (4.7 ) $ (2.8 ) Impact on cash flow due to taxes paid related to net share settlement of equity awards $ 7.2 $ 2.9 $ 8.1 $ 5.3 At June 30, 2016 , $ 15.8 million of compensation cost related to unvested restricted performance shares, restricted stock and SSARs attributable to future service had not yet been recognized. This amount will be recognized in expense over a weighted-average period of 1.6 years. LP adopted Accounting Standards Update (ASU) No. 2016-09, Improvements to Employee Share-based Payment Accounting, as of January 1, 2016. This standard is required to be adopted using the modified retrospective approach. As such, LP recorded a cumulative-effect adjustment of $16.3 million during the quarter ended March 31, 2016 to increase LP's December 31, 2015 retained earnings and increase LP's December 31, 2015 deferred tax asset balance. Additionally, ASU 2016-09 addresses the presentation of excess tax benefits and employee taxes paid on the statement of cash flows. LP is now required to present excess tax benefits as an operating activity (combined with other income tax cash flows) on the statement of cash flows rather than as a financing activity, and LP has adopted this change prospectively. ASU 2016-09 also requires the presentation of employee taxes as a financing activity on the statement of cash flows, which is where LP has previously classified this item. Grants of awards During the first six months of 2016, the Company granted 90,444 performance units at an average grant date fair value of $20.45 per share, 509,127 SSARs at an average grant date fair value of $6.99 per share and 446,698 restricted stock awards (shares or units) at an average grant date fair value of $15.95 per share.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE MEASUREMENTS LP estimated its Senior Notes maturing in 2020 to have a fair value of $361.8 million at June 30, 2016 and $366.2 million at December 31, 2015 based upon market quotations. Carrying amounts reported on the balance sheet for cash and cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these items.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings per Share	EARNINGS PER SHARE Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share are based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents (stock options, SSARs, performance shares, incentive shares and warrants) be excluded from the calculation of diluted earnings per share for the periods in which LP recognizes losses from continuing operations or at such time that the exercise prices of such awards are in excess of the weighted average market price of LP's common stock during these periods because the effect is anti-dilutive. Dollar and share amounts in millions, except per share amounts Quarter Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ 31.7 $ (19.5 ) $ 42.0 $ (54.0 ) Denominator: Denominator for basic earnings per share: Weighted average common shares outstanding 143.4 142.3 143.1 142.1 Effect of dilutive securities: Dilutive effect of stock warrants 0.2 — 0.3 — Dilutive effect of employee stock plans 1.6 — 1.7 — Dilutive potential common shares 1.8 — 2.0 — Denominator for diluted earnings per share: Adjusted weighted average shares 145.2 142.3 145.1 142.1 Basic earnings per share: Net income (loss) per share $ 0.22 $ (0.14 ) $ 0.29 $ (0.38 ) Diluted earnings per share: Net income (loss) per share $ 0.22 $ (0.14 ) $ 0.29 $ (0.38 ) For the quarter and six months ended June 30, 2016 , stock options, warrants and SSARs relating to approximately 2.6 million shares of LP common stock were considered not in-the-money for purposes of LP's earnings per share calculation. For the quarter and six months ended June 30, 2015 , stock options, warrants and SSARs relating to approximately 5.1 million shares of LP common stock were considered anti-dilutive for purposes of LP's earnings per share calculation due to LP's loss position from continuing operations. At June 30, 2016 , outstanding warrants were exercisable to purchase approximately 227,129 shares.

Receivables

Receivables	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Receivables	RECEIVABLES Receivables consist of the following: Dollar amounts in millions June 30, 2016 December 31, 2015 Trade receivables $ 134.3 $ 82.6 Income tax receivable 3.0 2.0 Other receivables 15.2 12.8 Allowance for doubtful accounts (1.1 ) (1.0 ) Total $ 151.4 $ 96.4 Other receivables at June 30, 2016 and December 31, 2015 primarily consist of sales tax receivables, vendor rebates, and other miscellaneous receivables.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are valued at the lower of cost or market. Inventory cost includes materials, labor and operating overhead. The major types of inventories are as follows (work in process is not material): Dollar amounts in millions June 30, 2016 December 31, 2015 Logs $ 45.3 $ 58.6 Other raw materials 25.3 21.6 Semi-finished inventory 21.7 18.5 Finished products 139.3 123.3 Total $ 231.6 $ 222.0

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Accounting standards state that companies account for income taxes using the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. This method also requires the recognition of future tax benefits, such as net operating loss carryforwards and other tax credits. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. Valuation allowances are recorded as necessary to reduce deferred tax assets to the amount thereof that is more likely than not to be realized. The likelihood of realizing deferred tax assets is evaluated by, among other things, estimating future taxable income, considering the future reversal of existing deferred tax liabilities to which the deferred tax assets may be applied and assessing the impact of tax planning strategies. For interim periods, accounting standards require that income tax expense be determined by applying the estimated annual effective income tax rate to year-to-date results unless this method does not result in a reliable estimate of year-to-date income tax expense. An exception is provided for situations in which an enterprise anticipates a loss in a separate jurisdiction for which no tax benefit can be recognized. For the six months ended June 30, 2015, LP's overall estimated annual effective tax rate was computed by excluding anticipated losses in Canada for which no deferred tax asset was expected to be recognizable due to the need for valuation allowances. Tax benefit for the period was then computed using the rate so derived applied to year-to-date pre-tax losses excluding those from Canada, and no additional Canadian tax benefit was added. Each period the income tax accrual is adjusted to the latest estimate and the difference from the previously accrued year-to-date balance is adjusted to the current quarter. Changes in the profitability estimates in various jurisdictions will impact our quarterly effective income tax rates. For the first six months of 2016 , the primary differences between the U.S. statutory rate of 35% and the effective rate applicable to LP’s continuing operations relate to foreign tax rates, changes in Canadian and state valuation allowances, excess tax benefits in connection with LP's stock-based compensation plans and an increase in the reserve for unrecognized tax benefits associated with LP's South American operations. For the first six months of 2015 , the primary differences between the U.S. statutory rate of 35% and the effective rate applicable to LP’s continuing operations relates to foreign tax rates, Canadian and state valuation allowances and a reduction in the reserve for unrecognized tax benefits associated with LP's U.S. operations. LP periodically reviews the need for valuation allowances against deferred tax assets and recognizes these deferred tax assets to the extent that the realization is more likely than not. As part of our review, we consider all positive and negative evidence, including earnings history, the future reversal of deferred tax liabilities, and the relevant expirations of carry forwards. LP believes that the valuation allowances provided are appropriate. If in future periods our earnings estimates differ from the estimates used to establish these valuation allowances, or other objective positive or negative evidence arises, LP may be required to record an adjustment resulting in an impact on tax expense (benefit) for that period.

Other Operating Credits and Cha

Other Operating Credits and Charges, Net	6 Months Ended
	Jun. 30, 2016
Other Operating Credits And Charges, Net [Abstract]
Other Operating Credits and Charges Net [Table Text Block]	OTHER OPERATING CREDITS AND CHARGES During the second quarter of 2016, LP recorded an expense of $ 11.4 million related to an increase in product related warranty reserves and a related adjustment to value added taxes associated with CanExel products sold in specific geographic locations and for a specific time period. During the first quarter of 2015, LP was notified by the Ministry of Forestry in Quebec that LP's forest license associated with an indefinitely curtailed Oriented Stand Board (OSB) mill in Quebec has been terminated. Based upon this notification, LP was required to write off the remaining unamortized value associated with this intangible forest license of $ 11.6 million .

Legal and Environmental Matters

Legal and Environmental Matters	6 Months Ended
	Jun. 30, 2016
Legal and Environmental Matters [Abstract]
Legal and Environmental Matters	LEGAL AND ENVIRONMENTAL MATTERS Certain environmental matters and legal proceedings are discussed below. Environmental Matters LP maintains a reserve for undiscounted estimated environmental loss contingencies. This reserve is primarily for estimated future costs of remediation of hazardous or toxic substances at numerous sites currently or previously owned by the Company. LP’s estimates of its environmental loss contingencies are based on various assumptions and judgments, the specific nature of which varies in light of the particular facts and circumstances surrounding each environmental loss contingency. These estimates typically reflect assumptions and judgments as to the probable nature, magnitude and timing of required investigation, remediation and/or monitoring activities and the probable cost of these activities, and in some cases reflect assumptions and judgments as to the obligation or willingness and ability of third parties to bear a proportionate or allocated share of the cost of these activities. Due to the numerous uncertainties and variables associated with these assumptions and judgments, and the effects of changes in governmental regulation and environmental technologies, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. LP regularly monitors its estimated exposure to environmental loss contingencies and, as additional information becomes known, may change its estimates significantly. However, no estimate of the range of any such change can be made at this time. Other Proceedings LP and its subsidiaries are parties to other legal proceedings. Based on the information currently available, management believes that the resolution of such proceedings will not have a material adverse effect on the financial position, results of operations, cash flows or liquidity of LP.

Selected Segment Data

Selected Segment Data	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Selected Segment Data	SELECTED SEGMENT DATA LP operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America. LP’s business units have been aggregated into these four segments based upon the similarity of economic characteristics, customers and distribution methods. LP’s results of operations are summarized below for each of these segments separately as well as for the “other” category which comprises other products that are not individually significant. Segment information was prepared in accordance with the same accounting principles as those described in Note 1 of the Notes to the financial statements included in LP’s Annual Report on Form 10-K for the year ended December 31, 2015 . Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Net Sales OSB $ 252.8 $ 211.0 $ 469.8 $ 401.2 Siding 207.2 163.9 388.5 337.4 EWP 78.0 72.0 149.8 136.8 South America 41.0 38.7 71.5 74.6 Other 6.6 7.4 12.7 14.7 Intersegment Sales (3.2 ) — (5.3 ) — $ 582.4 $ 493.0 $ 1,087.0 $ 964.7 Operating profit (loss): OSB $ 44.0 $ (18.1 ) $ 59.3 $ (46.5 ) Siding 41.8 29.2 68.7 62.1 EWP 0.5 (2.3 ) (2.0 ) (6.4 ) South America 6.9 2.0 12.0 4.4 Other (0.2 ) (1.0 ) (0.6 ) (1.9 ) Other operating credits and charges, net (11.4 ) — (11.4 ) (11.6 ) Loss on sale or impairment of long-lived assets, net (0.7 ) (0.5 ) (0.7 ) (0.6 ) General corporate and other expenses, net (27.2 ) (22.0 ) (51.2 ) (44.7 ) Other non-operating income (expense) 1.4 0.4 1.9 (1.8 ) Investment income 2.1 1.0 3.9 2.4 Interest expense, net of capitalized interest (9.3 ) (7.2 ) (17.3 ) (14.7 ) Income (loss) from operations before taxes 47.9 (18.5 ) 62.6 (59.3 ) Provision (benefit) for income taxes 16.2 1.0 20.6 (5.3 ) Net income (loss) $ 31.7 $ (19.5 ) $ 42.0 $ (54.0 )

Potential Impairments

Potential Impairments	6 Months Ended
	Jun. 30, 2016
Asset Impairment Charges [Abstract]
Potential Impairments	POTENTIAL IMPAIRMENTS LP continues to review certain operations and investments for potential impairments. LP’s management currently believes it has adequate support for the carrying value of each of these operations and investments based upon the anticipated cash flows that result from estimates of future demand, pricing and production costs assuming certain levels of planned capital expenditures. LP also reviews from time to time possible dispositions of various assets in light of current and anticipated economic and industry conditions, its strategic plan and other relevant circumstances. Because a determination to dispose of particular assets can require management to make assumptions regarding the transaction structure of the disposition and to estimate the net sales proceeds, which may be less than previous estimates of undiscounted future net cash flows, LP may be required to record impairment charges in connection with decisions to dispose of assets.

Defined Benefit Pension Plans

Defined Benefit Pension Plans	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Compensation and Employee Benefit Plans	DEFINED BENEFIT PENSION PLANS The following table sets forth the net periodic pension cost for LP’s defined benefit pension plans during the quarter and six months ended June 30, 2016 and 2015 . The net periodic pension cost included the following components: Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Service cost $ 1.2 $ 1.0 $ 2.4 $ 2.0 Interest cost 3.3 3.4 6.7 6.8 Expected return on plan assets (3.3 ) (3.8 ) (6.7 ) (7.6 ) Amortization of prior service cost 1 0.1 0.1 0.2 0.2 Amortization of net loss 1 1.4 1.8 2.8 3.6 Net periodic pension cost $ 2.7 $ 2.5 $ 5.4 $ 5.0 1 The amortization of prior service costs and net loss are included in the amounts reclassified from accumulated other comprehensive income (loss); see Note 14 for additional details. The net periodic pension cost is included in Cost of sales and Selling and administrative expense in the Consolidated Statements of Income. During the six months ended June 30, 2016 and 2015 , LP recognized $ 5.4 million and $5.0 million of pension expense for all of LP's defined benefit pension plans. During the six months ended June 30, 2016 , LP made $3.7 million in pension contributions to its defined benefit pension plans. LP expects to contribute between $2.0 million and $4.0 million to its defined benefit pension plans in the remaining months of 2016.

Product Warranty

Product Warranty	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Guarantees and Indemnifications	LP provides warranties on the sale of most of its products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management’s estimate of the level of future claims. The activity in warranty reserves for the quarter and six months ended June 30, 2016 and 2015 are summarized in the following table: Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Beginning balance $ 18.1 $ 27.1 $ 21.0 $ 31.4 Accrued to expense 0.3 0.2 0.4 0.3 Accrued to other operating credits and charges 10.9 — 10.9 — Foreign currency translation (0.1 ) 0.3 0.5 (1.0 ) Payments made (3.6 ) (2.6 ) (7.2 ) (5.7 ) Total warranty reserves 25.6 25.0 25.6 25.0 Current portion of warranty reserves (9.0 ) (10.0 ) (9.0 ) (10.0 ) Long-term portion of warranty reserves $ 16.6 $ 15.0 $ 16.6 $ 15.0 LP continues to monitor warranty and other claims associated with these products and believes as of June 30, 2016 that the reserves associated with these matters are adequate. However, it is possible that additional charges may be required in the future. The current portion of the warranty reserve is included in the caption “Accounts payable and accrued liabilities” and the long-term portion is included in the caption “Other long-term liabilities” on LP’s Consolidated Balance Sheets.

Other Comprehensive Income Othe

Other Comprehensive Income Other Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	NOTE 14 - OTHER COMPREHENSIVE INCOME Other comprehensive income activity, net of tax, is provided in the following table for the quarter and six months ended June 30, 2016 : Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at March 31, 2016 $ (49.0 ) $ (87.8 ) (5.4 ) $ 3.3 $ (1.0 ) $ (139.9 ) Other comprehensive income before reclassifications 4.1 0.1 — (0.3 ) — 3.9 Income taxes — — — 0.1 — 0.1 Net other comprehensive income (loss) before reclassifications 4.1 0.1 — (0.2 ) — 4.0 Amounts reclassified from accumulated comprehensive income — 1.4 0.1 — — 1.5 Income taxes — (0.6 ) (0.1 ) — — (0.7 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 0.8 — — — 0.8 Total other comprehensive income (loss) 4.1 0.9 — (0.2 ) — 4.8 Balance at June 30, 2016 $ (44.9 ) $ (86.9 ) $ (5.4 ) $ 3.1 $ (1.0 ) $ (135.1 ) Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at December 31, 2015 $ (55.1 ) $ (87.8 ) (5.5 ) $ 3.3 $ (1.0 ) $ (146.1 ) Other comprehensive income (loss) before reclassifications 10.2 (0.9 ) — (0.3 ) — 9.0 Income taxes — — — 0.1 — 0.1 Net other comprehensive income (loss) before reclassifications 10.2 (0.9 ) — (0.2 ) — 9.1 Amounts reclassified from accumulated other comprehensive income (loss) — 2.8 0.2 — — 3.0 Income taxes — (1.0 ) (0.1 ) — — (1.1 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 1.8 0.1 — — 1.9 Total other comprehensive income (loss) 10.2 0.9 0.1 (0.2 ) — 11.0 Balance at June 30, 2016 $ (44.9 ) $ (86.9 ) $ (5.4 ) $ 3.1 $ (1.0 ) $ (135.1 ) Other comprehensive income activity, net of tax, is provided in the following table for the quarter and six months ended June 30, 2015 : Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at March 31, 2015 $ (41.5 ) $ (91.6 ) $ (5.8 ) $ 2.6 $ (1.1 ) $ (137.4 ) Other comprehensive income (loss) before reclassifications (0.1 ) — — — — (0.1 ) Income taxes — — — — — — Net other comprehensive income (loss) before reclassifications (0.1 ) — — — — (0.1 ) Amounts reclassified from accumulated other comprehensive income (loss) — 1.8 0.1 — — 1.9 Income taxes — (0.8 ) (0.1 ) — — (0.9 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 1.0 — — — 1.0 Total other comprehensive income (loss) (0.1 ) 1.0 — — — 0.9 Balance at June 30, 2015 $ (41.6 ) $ (90.6 ) $ (5.8 ) $ 2.6 $ (1.1 ) $ (136.5 ) Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at December 31, 2014 $ (33.7 ) $ (93.1 ) $ (5.9 ) $ 2.6 $ (1.2 ) $ (131.3 ) Other comprehensive income (loss) before reclassifications (7.9 ) 0.3 — — 0.1 (7.5 ) Income taxes — — — — — — Net other comprehensive income (loss) before reclassifications (7.9 ) 0.3 — — 0.1 (7.5 ) Amounts reclassified from accumulated other comprehensive income (loss) — 3.6 0.2 — — 3.8 Income taxes — (1.4 ) (0.1 ) — — (1.5 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 2.2 0.1 — — 2.3 Total other comprehensive income (loss) (7.9 ) 2.5 0.1 — 0.1 (5.2 ) Balance at June 30, 2015 $ (41.6 ) $ (90.6 ) $ (5.8 ) $ 2.6 $ (1.1 ) $ (136.5 ) The amounts reclassified from accumulated other comprehensive income (loss) are included in the computation of net periodic pension cost; see Note 12 for additional details. The net periodic pension cost is included in Cost of sales and Selling and administrative expense in the Consolidated Statements of Income.

Recent and Prospective Accounti

Recent and Prospective Accounting Pronouncements (Notes)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	RECENT AND PROSPECTIVE ACCOUNTING PRONOUNCEMENTS In March 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-02, Leases (Topic 842), which supersedes the lease accounting requirements in Accounting Standards Codification (ASC) Topic 840, Leases. The new standard requires entities to recognize, separately from each other, an asset for its right to use (ROU) the underlying asset equal to the liability for its finance and operating lease obligations. Further, the entity is required to present separately the current and non-current portion of the ROU asset and corresponding lease liability. The new standard is effective on January 1, 2019. LP is currently evaluating the effect that adopting this new accounting guidance will have on its consolidated results of operations and financial position.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Total stock-based compensation expense (costs of sales and general and administrative) $ 3.2 $ 2.7 $ 6.2 $ 5.1 Income tax benefit related to stock-based compensation $ (4.7 ) $ (2.8 ) Impact on cash flow due to taxes paid related to net share settlement of equity awards $ 7.2 $ 2.9 $ 8.1 $ 5.3

Earnings per Share (Tables) (Ta

Earnings per Share (Tables) (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share are based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents (stock options, SSARs, performance shares, incentive shares and warrants) be excluded from the calculation of diluted earnings per share for the periods in which LP recognizes losses from continuing operations or at such time that the exercise prices of such awards are in excess of the weighted average market price of LP's common stock during these periods because the effect is anti-dilutive. Dollar and share amounts in millions, except per share amounts Quarter Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net income (loss) $ 31.7 $ (19.5 ) $ 42.0 $ (54.0 ) Denominator: Denominator for basic earnings per share: Weighted average common shares outstanding 143.4 142.3 143.1 142.1 Effect of dilutive securities: Dilutive effect of stock warrants 0.2 — 0.3 — Dilutive effect of employee stock plans 1.6 — 1.7 — Dilutive potential common shares 1.8 — 2.0 — Denominator for diluted earnings per share: Adjusted weighted average shares 145.2 142.3 145.1 142.1 Basic earnings per share: Net income (loss) per share $ 0.22 $ (0.14 ) $ 0.29 $ (0.38 ) Diluted earnings per share: Net income (loss) per share $ 0.22 $ (0.14 ) $ 0.29 $ (0.38 )

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Receivables consist of the following: Dollar amounts in millions June 30, 2016 December 31, 2015 Trade receivables $ 134.3 $ 82.6 Income tax receivable 3.0 2.0 Other receivables 15.2 12.8 Allowance for doubtful accounts (1.1 ) (1.0 ) Total $ 151.4 $ 96.4

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	The major types of inventories are as follows (work in process is not material): Dollar amounts in millions June 30, 2016 December 31, 2015 Logs $ 45.3 $ 58.6 Other raw materials 25.3 21.6 Semi-finished inventory 21.7 18.5 Finished products 139.3 123.3 Total $ 231.6 $ 222.0

Selected Segment Data (Tables)

Selected Segment Data (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Net Sales OSB $ 252.8 $ 211.0 $ 469.8 $ 401.2 Siding 207.2 163.9 388.5 337.4 EWP 78.0 72.0 149.8 136.8 South America 41.0 38.7 71.5 74.6 Other 6.6 7.4 12.7 14.7 Intersegment Sales (3.2 ) — (5.3 ) — $ 582.4 $ 493.0 $ 1,087.0 $ 964.7 Operating profit (loss): OSB $ 44.0 $ (18.1 ) $ 59.3 $ (46.5 ) Siding 41.8 29.2 68.7 62.1 EWP 0.5 (2.3 ) (2.0 ) (6.4 ) South America 6.9 2.0 12.0 4.4 Other (0.2 ) (1.0 ) (0.6 ) (1.9 ) Other operating credits and charges, net (11.4 ) — (11.4 ) (11.6 ) Loss on sale or impairment of long-lived assets, net (0.7 ) (0.5 ) (0.7 ) (0.6 ) General corporate and other expenses, net (27.2 ) (22.0 ) (51.2 ) (44.7 ) Other non-operating income (expense) 1.4 0.4 1.9 (1.8 ) Investment income 2.1 1.0 3.9 2.4 Interest expense, net of capitalized interest (9.3 ) (7.2 ) (17.3 ) (14.7 ) Income (loss) from operations before taxes 47.9 (18.5 ) 62.6 (59.3 ) Provision (benefit) for income taxes 16.2 1.0 20.6 (5.3 ) Net income (loss) $ 31.7 $ (19.5 ) $ 42.0 $ (54.0 )

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The net periodic pension cost included the following components: Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Service cost $ 1.2 $ 1.0 $ 2.4 $ 2.0 Interest cost 3.3 3.4 6.7 6.8 Expected return on plan assets (3.3 ) (3.8 ) (6.7 ) (7.6 ) Amortization of prior service cost 1 0.1 0.1 0.2 0.2 Amortization of net loss 1 1.4 1.8 2.8 3.6 Net periodic pension cost $ 2.7 $ 2.5 $ 5.4 $ 5.0

Product Warranty (Tables)

Product Warranty (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	The activity in warranty reserves for the quarter and six months ended June 30, 2016 and 2015 are summarized in the following table: Quarter Ended June 30, Six Months Ended June 30, Dollar amounts in millions 2016 2015 2016 2015 Beginning balance $ 18.1 $ 27.1 $ 21.0 $ 31.4 Accrued to expense 0.3 0.2 0.4 0.3 Accrued to other operating credits and charges 10.9 — 10.9 — Foreign currency translation (0.1 ) 0.3 0.5 (1.0 ) Payments made (3.6 ) (2.6 ) (7.2 ) (5.7 ) Total warranty reserves 25.6 25.0 25.6 25.0 Current portion of warranty reserves (9.0 ) (10.0 ) (9.0 ) (10.0 ) Long-term portion of warranty reserves $ 16.6 $ 15.0 $ 16.6 $ 15.0

Other Comprehensive Income Ot29

Other Comprehensive Income Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at March 31, 2016 $ (49.0 ) $ (87.8 ) (5.4 ) $ 3.3 $ (1.0 ) $ (139.9 ) Other comprehensive income before reclassifications 4.1 0.1 — (0.3 ) — 3.9 Income taxes — — — 0.1 — 0.1 Net other comprehensive income (loss) before reclassifications 4.1 0.1 — (0.2 ) — 4.0 Amounts reclassified from accumulated comprehensive income — 1.4 0.1 — — 1.5 Income taxes — (0.6 ) (0.1 ) — — (0.7 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 0.8 — — — 0.8 Total other comprehensive income (loss) 4.1 0.9 — (0.2 ) — 4.8 Balance at June 30, 2016 $ (44.9 ) $ (86.9 ) $ (5.4 ) $ 3.1 $ (1.0 ) $ (135.1 ) Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at December 31, 2015 $ (55.1 ) $ (87.8 ) (5.5 ) $ 3.3 $ (1.0 ) $ (146.1 ) Other comprehensive income (loss) before reclassifications 10.2 (0.9 ) — (0.3 ) — 9.0 Income taxes — — — 0.1 — 0.1 Net other comprehensive income (loss) before reclassifications 10.2 (0.9 ) — (0.2 ) — 9.1 Amounts reclassified from accumulated other comprehensive income (loss) — 2.8 0.2 — — 3.0 Income taxes — (1.0 ) (0.1 ) — — (1.1 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 1.8 0.1 — — 1.9 Total other comprehensive income (loss) 10.2 0.9 0.1 (0.2 ) — 11.0 Balance at June 30, 2016 $ (44.9 ) $ (86.9 ) $ (5.4 ) $ 3.1 $ (1.0 ) $ (135.1 ) Other comprehensive income activity, net of tax, is provided in the following table for the quarter and six months ended June 30, 2015 : Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at March 31, 2015 $ (41.5 ) $ (91.6 ) $ (5.8 ) $ 2.6 $ (1.1 ) $ (137.4 ) Other comprehensive income (loss) before reclassifications (0.1 ) — — — — (0.1 ) Income taxes — — — — — — Net other comprehensive income (loss) before reclassifications (0.1 ) — — — — (0.1 ) Amounts reclassified from accumulated other comprehensive income (loss) — 1.8 0.1 — — 1.9 Income taxes — (0.8 ) (0.1 ) — — (0.9 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 1.0 — — — 1.0 Total other comprehensive income (loss) (0.1 ) 1.0 — — — 0.9 Balance at June 30, 2015 $ (41.6 ) $ (90.6 ) $ (5.8 ) $ 2.6 $ (1.1 ) $ (136.5 ) Pension Adjustments Dollar amounts in millions Foreign currency translation adjustments Actuarial losses Prior service costs Unrealized gain (loss) on investments Other Total Balance at December 31, 2014 $ (33.7 ) $ (93.1 ) $ (5.9 ) $ 2.6 $ (1.2 ) $ (131.3 ) Other comprehensive income (loss) before reclassifications (7.9 ) 0.3 — — 0.1 (7.5 ) Income taxes — — — — — — Net other comprehensive income (loss) before reclassifications (7.9 ) 0.3 — — 0.1 (7.5 ) Amounts reclassified from accumulated other comprehensive income (loss) — 3.6 0.2 — — 3.8 Income taxes — (1.4 ) (0.1 ) — — (1.5 ) Net amounts reclassified from cumulative other comprehensive income (loss) — 2.2 0.1 — — 2.3 Total other comprehensive income (loss) (7.9 ) 2.5 0.1 — 0.1 (5.2 ) Balance at June 30, 2015 $ (41.6 ) $ (90.6 ) $ (5.8 ) $ 2.6 $ (1.1 ) $ (136.5 )

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3,100,000		3,100,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 15,800,000		$ 15,800,000
Payments Related to Tax Withholding for Share-based Compensation	7,200,000	$ 2,900,000	8,100,000	$ 5,300,000
Stock-based compensation related to stock plans	3,200,000	2,700,000	6,200,000	5,100,000
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ (4,700,000)		$ (2,800,000)
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			1 year 6 months 22 days
Cumulative Effect of New Accounting Principle in Period of Adoption					$ 16,300,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 20.45		$ 20.45
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			90,444
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value	6.99		$ 6.99
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			509,127
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 15.95		$ 15.95
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			446,698

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Senior Secure Note Maturing 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes Payable, Fair Value Disclosure	$ 361.8	$ 366.2

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (loss)	$ 31.7	$ (19.5)	$ 42	$ (54)
Weighted average number of shares outstanding - basic	143,400,000	142,300,000	143,100,000	142,100,000
Dilutive effect of stock warrants	200,000	0	300,000
Dilutive effect of employee stock plans	1,600,000	0	1,700,000
Dilutive potential common shares	1,800,000	0	2,000,000	0
Weighted average number of shares outstanding - diluted	145,200,000	142,300,000	145,100,000	142,100,000
Net income (loss) per share - basic	$ 0.22	$ (0.14)	$ 0.29	$ (0.38)
Net income (loss) per share - diluted	$ 0.22	$ (0.14)	$ 0.29	$ (0.38)
Antidilutive securities excluded from computation of earnings per share	2,600,000	5,100,000
Warrants outstanding	227,129		227,129

Receivables (Details)

Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Trade receivables	$ 134.3	$ 82.6
Income tax receivable	3	2
Other receivables	15.2	12.8
Allowance for doubtful accounts	(1.1)	(1)
Total	$ 151.4	$ 96.4

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Logs	$ 45.3	$ 58.6
Other raw materials	25.3	21.6
Semi-finished inventory	21.7	18.5
Finished products	139.3	123.3
Total	$ 231.6	$ 222

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	35.00%	35.00%

Other Operating Credits and C36

Other Operating Credits and Charges, Net (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Operating Credits And Charges, Net [Abstract]
Other operating credits and charges, net	$ 11.4	$ 0	$ 11.6	$ 11.4	$ 11.6

Selected Segment Data (Details)

Selected Segment Data (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales:	$ 582.4	$ 493	$ 1,087	$ 964.7
Other operating charges and credits, net	(11.4)	0	(11.4)	(11.6)
Loss on sale or impairment of long-lived assets, net	0.7	0.5	0.7	0.6
Other Selling, General and Administrative Expense	27.2	22	51.2	44.7
Other non-operating items	1.4	0.4	1.9	(1.8)
Interest income	2.1	1	3.9	2.4
Interest expense, net of capitalized interest	(9.3)	(7.2)	(17.3)	(14.7)
Income (loss) from operations before taxes	47.9	(18.5)	62.6	(59.3)
Provision (benefit) for income taxes	16.2	1	20.6	(5.3)
Net income (loss)	31.7	(19.5)	42	(54)
Operating profit (loss):	52.2	(14.1)	71.1	(47.3)
OSB [Member]
Segment Reporting Information [Line Items]
Net sales:	252.8	211	469.8	401.2
Operating profit (loss):	44	(18.1)	59.3	(46.5)
Siding [Member]
Segment Reporting Information [Line Items]
Net sales:	207.2	163.9	388.5	337.4
Operating profit (loss):	41.8	29.2	68.7	62.1
Engineered Wood Products [Member]
Segment Reporting Information [Line Items]
Net sales:	78	72	149.8	136.8
Operating profit (loss):	0.5	(2.3)	(2)	(6.4)
South America [Member]
Segment Reporting Information [Line Items]
Net sales:	41	38.7	71.5	74.6
Operating profit (loss):	6.9	2	12	4.4
Other [Member]
Segment Reporting Information [Line Items]
Net sales:	6.6	7.4	12.7	14.7
Operating profit (loss):	(0.2)	(1)	(0.6)	(1.9)
Intersegment elimination [Member]
Segment Reporting Information [Line Items]
Net sales:	$ (3.2)	$ 0	$ (5.3)	$ 0

Defined Benefit Pension Plans38

Defined Benefit Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Pension Expense			$ 5.4		$ 5
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 1.2	$ 1	2.4		2
Interest cost	3.3	3.4	6.7		6.8
Expected return on plan assets	(3.3)	(3.8)	(6.7)		(7.6)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0.1	0.1	0.2	[1]	0.2
Defined Benefit Plan, Amortization of Gains (Losses)	1.4	1.8	2.8	[1]	3.6
Net periodic pension cost	$ 2.7	$ 2.5	5.4		$ 5
Pension Contributions			3.7
Minimum [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year			2
Maximum [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year			$ 4
[1]	The amounts reclassified from accumulated other comprehensive income (loss) are included in the computation of net periodic pension cost; see Note 12 for additional details. The net periodic pension cost is included in Cost of sales and Selling and administrative expense in the Consolidated Statements of Income.

Product Warranty (Details)

Product Warranty (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 18.1	$ 27.1	$ 21	$ 31.4
Accrued to expense	0.3	0.2	0.4	0.3
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	10.9	0	10.9	0
Foreign currency translation	(0.1)	0.3	0.5	(1)
Payments made	(3.6)	(2.6)	(7.2)	(5.7)
Ending Balance	25.6	25	25.6	25
Current portion of warranty reserves	(9)	(10)	(9)	(10)
Long-term portion of warranty reserves	$ 16.6	$ 15	$ 16.6	$ 15

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Beginning Balance	$ (139.9)	$ (137.4)	$ (146.1)	$ (131.3)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	3.9	(0.1)	9	(7.5)
Other Comprehensive Income (Loss) before Reclassifications, Tax	0.1	0	0.1	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	4	(0.1)	9.1	(7.5)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	1.5	1.9	3	3.8
Reclassification from AOCI, Current Period, Tax	(0.7)	(0.9)	(1.1)	(1.5)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.8	1	1.9	2.3
Other Comprehensive Income (Loss), Net of Tax	4.8	0.9	11	(5.2)
Ending Balance	(135.1)	(136.5)	(135.1)	(136.5)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Beginning Balance	(49)	(41.5)	(55.1)	(33.7)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	4.1	(0.1)	10.2	(7.9)
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	4.1	(0.1)	10.2	(7.9)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0	0	0
Reclassification from AOCI, Current Period, Tax	0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax	4.1	(0.1)	10.2	(7.9)
Ending Balance	(44.9)	(41.6)	(44.9)	(41.6)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Beginning Balance	(87.8)	(91.6)	(87.8)	(93.1)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	0.1	0	(0.9)	0.3
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0.1	0	(0.9)	0.3
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	1.4	1.8	2.8	3.6
Reclassification from AOCI, Current Period, Tax	(0.6)	(0.8)	(1)	(1.4)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.8	1	1.8	2.2
Other Comprehensive Income (Loss), Net of Tax	0.9	1	0.9	2.5
Ending Balance	(86.9)	(90.6)	(86.9)	(90.6)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
Beginning Balance	(5.4)	(5.8)	(5.5)	(5.9)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	0	0	0	0
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0.1	0.1	0.2	0.2
Reclassification from AOCI, Current Period, Tax	(0.1)	(0.1)	(0.1)	(0.1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0.1	0.1
Other Comprehensive Income (Loss), Net of Tax	0	0	0.1	0.1
Ending Balance	(5.4)	(5.8)	(5.4)	(5.8)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Beginning Balance	3.3	2.6	3.3	2.6
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(0.3)	0	(0.3)	0
Other Comprehensive Income (Loss) before Reclassifications, Tax	0.1	0	0.1	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(0.2)	0	(0.2)	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0	0	0
Reclassification from AOCI, Current Period, Tax	0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax	(0.2)	0	(0.2)	0
Ending Balance	3.1	2.6	3.1	2.6
Accumulated Other Post Retirement Benefits Adjustment, Net [Member]
Beginning Balance	(1)	(1.1)	(1)	(1.2)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	0	0	0	0.1
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0	0.1
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0	0	0
Reclassification from AOCI, Current Period, Tax	0	0	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax	0	0	0	0.1
Ending Balance	$ (1)	$ (1.1)	$ (1)	$ (1.1)