Exhibit 99.4 - Unaudited reclassified summary segment financial information for LP
The unaudited reclassified summary segment financial information provided below is provided to reflect the realignment of LP's unallocated expenses to the business segments effective during the first quarter of 2019. LP did not review results in this method for any of these prior periods and will begin to report comparative results under the new method effective with the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019.
Reporting segment data on a quarterly basis for the year ended December 31, 2018 and 2017 and on an annual basis for the years ended December 31, 2018, 2017 and 2016 is presented in the tables below:
1ST QTR | 2ND QTR | 3RD QTR | 4TH QTR | ||||||||||||||||||||||||||||
(Dollars in millions) | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | |||||||||||||||||||||||
SALES BY SEGMENT: | |||||||||||||||||||||||||||||||
Siding | $ | 227.0 | $ | 214.0 | $ | 261.6 | $ | 231.0 | $ | 240.8 | $ | 226.2 | $ | 212.9 | $ | 212.8 | |||||||||||||||
OSB | 313.3 | 268.4 | 387.4 | 325.0 | 349.1 | 350.9 | 255.4 | 358.2 | |||||||||||||||||||||||
Engineered wood products | 105.8 | 87.7 | 113.3 | 98 | 109.7 | 101.8 | 79.9 | 96.5 | |||||||||||||||||||||||
South America | 42.4 | 37.8 | 45.3 | 38.7 | 34.5 | 38.3 | 38.6 | 40.5 | |||||||||||||||||||||||
Other | 2.8 | 3.1 | 3.2 | 3.3 | 2.7 | 2.8 | 2.4 | 2.7 | |||||||||||||||||||||||
Intersegment sales | — | (0.1 | ) | — | (1.9 | ) | — | (1.7 | ) | (0.1 | ) | (0.1 | ) | ||||||||||||||||||
Total net sales | $ | 691.3 | $ | 610.9 | $ | 810.8 | $ | 694.1 | $ | 736.8 | $ | 718.3 | $ | 589.1 | $ | 710.6 | |||||||||||||||
PROFIT (LOSS) BY BUSINESS SEGMENT | |||||||||||||||||||||||||||||||
Siding | $ | 35.9 | $ | 33.0 | $ | 53.4 | $ | 40.9 | $ | 50.6 | $ | 45.4 | $ | 25.3 | $ | 38.1 | |||||||||||||||
OSB | 89.2 | 52.7 | 149.0 | 94.5 | 106.4 | 118.2 | 18.7 | 128.6 | |||||||||||||||||||||||
Engineered wood products | 0.3 | (1.6 | ) | 6.0 | 2.5 | 5.8 | 3.1 | (3.5 | ) | 0.4 | |||||||||||||||||||||
South America | 8.9 | 5.1 | 9.6 | 5.5 | 6.5 | 5.8 | 6.0 | 7.9 | |||||||||||||||||||||||
Other | (2.3 | ) | (1.4 | ) | (2.1 | ) | (2.0 | ) | (2.4 | ) | (2.0 | ) | (1.9 | ) | (1.8 | ) | |||||||||||||||
Other operating credits and charges, net | 0.4 | (3.4 | ) | 4.5 | (2.0 | ) | 6.3 | 0.9 | (9.0 | ) | (0.4 | ) | |||||||||||||||||||
Gain (loss) on sale of and impairment of long-lived assets | 0.6 | (0.6 | ) | — | 3.1 | (0.3 | ) | (0.7 | ) | (11.1 | ) | (8.6 | ) | ||||||||||||||||||
General corporate and other expenses, net | (5.8 | ) | (8.4 | ) | (6.0 | ) | (6.3 | ) | (6.4 | ) | (9.2 | ) | (9.4 | ) | (4.5 | ) | |||||||||||||||
Non-operating income (expense) | (1.4 | ) | (1.9 | ) | (0.7 | ) | (3.1 | ) | (2.2 | ) | (2.2 | ) | 0.4 | (6.6 | ) | ||||||||||||||||
Investment income | 3.2 | 2.0 | 4.8 | 2.3 | 5.5 | 2.9 | 4.1 | 3.3 | |||||||||||||||||||||||
Interest expense, net of capitalized interest | (4.4 | ) | (5.0 | ) | (4.4 | ) | (4.9 | ) | (3.9 | ) | (4.9 | ) | (3.1 | ) | (4.5 | ) | |||||||||||||||
Income from operations before taxes | 124.6 | 70.5 | 214.1 | 130.5 | 165.9 | 157.3 | 16.5 | 151.9 | |||||||||||||||||||||||
Provision (benefit) for income taxes | 29.7 | 15.5 | 51.2 | 36.0 | 41.8 | 46.4 | (0.4 | ) | 21.2 | ||||||||||||||||||||||
Income from continuing operations | $ | 94.9 | $ | 55.0 | $ | 162.9 | $ | 94.5 | $ | 124.1 | $ | 110.9 | $ | 16.9 | $ | 130.7 | |||||||||||||||
Adjusted EBITDA | |||||||||||||||||||||||||||||||
Siding | $ | 44.9 | $ | 41.9 | $ | 62.7 | $ | 49.2 | $ | 59.7 | $ | 54.3 | $ | 33.6 | $ | 46.1 | |||||||||||||||
OSB | 104.8 | 68.2 | 163.1 | 110.2 | 122.7 | 134.1 | 33.7 | 146.2 | |||||||||||||||||||||||
Engineered wood products | 5.3 | 3.2 | 11.0 | 6.9 | 10.2 | 7.8 | (0.3 | ) | 5.4 | ||||||||||||||||||||||
South America | 11.2 | 7.3 | 11.9 | 7.7 | 8.6 | 8.2 | 8.4 | 10.2 | |||||||||||||||||||||||
Other | (2.1 | ) | (1.2 | ) | (1.8 | ) | (1.9 | ) | (2.3 | ) | (1.7 | ) | (1.8 | ) | (1.6 | ) | |||||||||||||||
General corporate and other expenses, net | (4.7 | ) | (5.3 | ) | (4.9 | ) | (5.5 | ) | (5.5 | ) | (8.3 | ) | (8.6 | ) | (3.9 | ) | |||||||||||||||
Adjusted EBITDA | $ | 159.4 | $ | 114.1 | $ | 242.0 | $ | 166.6 | $ | 193.4 | $ | 194.4 | $ | 65.0 | $ | 202.4 |
Year ended December 31, | |||||||||||
Dollar amounts in millions | 2018 | 2017 | 2016 | ||||||||
SALES BY BUSINESS SEGMENT | |||||||||||
Siding | $ | 942.3 | $ | 884.0 | $ | 752.3 | |||||
OSB | 1,305.2 | 1,302.5 | 1,027.7 | ||||||||
Engineered Wood Products | 408.7 | 384.0 | 311.4 | ||||||||
South America | 160.8 | 155.3 | 136.9 | ||||||||
Other products | 11.1 | 11.9 | 12.4 | ||||||||
Intersegment Sales | (0.1 | ) | (3.8 | ) | (7.3 | ) | |||||
Total sales | $ | 2,828.0 | $ | 2,733.9 | $ | 2,233.4 | |||||
PROFIT (LOSS) BY BUSINESS SEGMENT | |||||||||||
Siding | $ | 165.2 | $ | 157.4 | $ | 102.0 | |||||
OSB | 363.3 | 394.0 | 154.0 | ||||||||
Engineered Wood Products | 8.6 | 4.4 | (16.2 | ) | |||||||
South America | 31 | 24.3 | 17.0 | ||||||||
Other products | (8.7 | ) | (7.2 | ) | (3.8 | ) | |||||
Other operating credits and charges, net | 2.2 | (4.9 | ) | (17.4 | ) | ||||||
Gain (loss) on sales of and impairments of long-lived assets | (10.8 | ) | (6.8 | ) | 8.4 | ||||||
General corporate and other expense, net | (27.6 | ) | (28.4 | ) | (28.6 | ) | |||||
Interest expense, net of capitalized interest | (3.9 | ) | (13.8 | ) | (32.1 | ) | |||||
Investment income | 17.6 | 10.5 | 8.2 | ||||||||
Other non-operating income (expense) | (15.8 | ) | (19.3 | ) | (21.4 | ) | |||||
Income from continuing operations before taxes | 521.1 | 510.2 | 170.1 | ||||||||
Provision for income taxes | 122.3 | 119.1 | 19.8 | ||||||||
Income from continuing operations | $ | 398.8 | $ | 391.1 | $ | 150.3 | |||||
Adjusted EBITDA | |||||||||||
Siding | $ | 200.9 | $ | 191.5 | $ | 132.3 | |||||
OSB | 424.3 | 458.7 | 216.2 | ||||||||
Engineered Wood Products | 26.2 | 23.3 | (0.2 | ) | |||||||
South America | 40.1 | 33.4 | 25.6 | ||||||||
Other products | (8.0 | ) | (6.4 | ) | (3.1 | ) | |||||
General corporate and other expense, net | (23.7 | ) | (23.0 | ) | (20.6 | ) | |||||
Adjusted EBITDA | $ | 659.8 | $ | 677.5 | $ | 350.2 |