Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2024 | May 07, 2024 | |
Entity Information [Line Items] | ||
Entity Incorporation, State or Country Code | DE | |
Title of 12(b) Security | Common Stock, $1 par value | |
Entity Tax Identification Number | 93-0609074 | |
Trading Symbol | LPX | |
Entity Registrant Name | LOUISIANA-PACIFIC CORPORATION | |
Entity Address, Address Line One | 1610 West End Avenue | |
Entity Address, Address Line Two | Suite 200 | |
City Area Code | Nashville | |
Entity Address, State or Province | TN | |
Entity Address, Postal Zip Code | 37203 | |
City Area Code | (615) | |
Local Phone Number | 986 - 5600 | |
Entity Central Index Key | 0000060519 | |
Current Fiscal Year End Date | --12-31 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2024 | |
Entity File Number | 1-7107 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding | 71,671,837 | |
Security Exchange Name | NYSE | |
Entity Filer Category | Large Accelerated Filer | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Current Reporting Status | Yes |
Commiments and Contingencies
Commiments and Contingencies | 3 Months Ended |
Mar. 31, 2024 | |
Legal and Environmental Matters [Abstract] | |
Commiments and Contingencies | COMMITMENTS AND CONTINGENCIES We maintain reserves for various contingent liabilities as follows (dollar amounts in millions): March 31, 2024 December 31, 2023 Environmental reserves $ 26 $ 26 Other reserves — — Total contingencies 26 26 Current portion (included in Accounts payable and accrued liabilities) (1) (1) Long-term portion $ 25 $ 25 Estimates of our loss contingencies are based on various assumptions and judgments. Due to the numerous uncertainties and variables associated with these assumptions and judgments, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. We regularly monitor our estimated exposure to contingencies and, as additional information becomes known, may change our estimates significantly. While no estimate of the range of any such change can be made at this time, the amount that we may ultimately pay in connection with these matters could materially exceed, in either the near term or the longer term, the amounts accrued to date. Our estimates of our loss contingencies do not reflect potential future recoveries from insurance carriers except to the extent that recovery may, from time to time, be deemed probable as a result of an insurer’s agreement to payment terms. Environmental Matters We maintain 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. Our estimates of our environmental loss contingencies are based on various assumptions and judgments, the specific nature of which varies based on 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 the 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. We regularly monitor our estimated exposure to environmental loss contingencies and, as additional information becomes known, may change our estimates significantly. Other Proceedings From time to time, we and our subsidiaries are parties to certain legal proceedings arising in our ordinary course of business. Based on the information currently available, management believes the resolution of such ongoing and future proceedings will not have a material effect on our financial position, results of operations, cash flows, or liquidity. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income Statement [Abstract] | ||
Net sales | $ 724 | $ 584 |
Cost of sales | (511) | (483) |
Gross Profit | 214 | 101 |
Selling, general, and administrative expenses | (69) | (66) |
Other operating credits and charges, net | 1 | (5) |
Income from operations | 145 | 30 |
Non-operating income (expense): | ||
Interest Expense | (4) | (3) |
Investment income | 6 | 5 |
Other non-operating items | 1 | (8) |
Income before income taxes | 148 | 23 |
Provision for income taxes | (41) | (1) |
Equity in unconsolidated affiliate | 1 | 0 |
Net income | 108 | 22 |
Net income attributed to non-controlling interest | 0 | (1) |
Net income attributed to LP | $ 108 | $ 21 |
Net income attributed to LP per share of common stock: | ||
Net income per share, basic (in dollars per share) | $ 1.49 | $ 0.29 |
Net income per share, diluted (in dollars per share) | $ 1.48 | $ 0.29 |
Average shares of common stock used to compute Net income per share: | ||
Basic (in shares) | 72 | 72 |
Diluted (in shares) | 72 | 72 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 108 | $ 22 |
Other comprehensive income (loss) | ||
Foreign currency translation adjustments | (15) | 15 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 4 |
Other comprehensive income (loss), net of tax | (15) | 19 |
Comprehensive income | 93 | 42 |
Comprehensive income associated with non-controlling interest | 0 | 1 |
Comprehensive income attributed to LP | 93 | 41 |
Translation Adjustments | ||
Other comprehensive income (loss) | ||
Foreign currency translation adjustments | $ (15) | $ 15 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
ASSETS | ||
Cash and cash equivalents | $ 244 | $ 222 |
Receivables, net of allowance for doubtful accounts of $2 as of March 31, 2024 and December 31, 2023. | 180 | 155 |
Inventories | 398 | 378 |
Prepaid expenses and other current assets | 19 | 23 |
Total current assets | 842 | 778 |
Timber and timberlands | 31 | 32 |
Property, plant, and equipment, net | 1,533 | 1,540 |
Operating lease assets | 24 | 25 |
Goodwill and other intangible assets | 27 | 27 |
Investments in and advances to affiliates | 6 | 5 |
Other assets | 20 | 20 |
Deferred Tax Assets, Deferred Income | 5 | 11 |
Total assets | 2,487 | 2,437 |
LIABILITIES AND EQUITY | ||
Accounts payable and accrued liabilities | 242 | 254 |
Accrued Income Taxes, Current | 11 | 5 |
Total current liabilities | 254 | 259 |
Long-term Debt and Lease Obligation | 347 | 347 |
Deferred Income Tax Liabilities, Net | 162 | 162 |
Operating Lease liability, noncurrent | 24 | 25 |
Loss Contingency Accrual | 25 | 25 |
Other long-term liabilities | 57 | 61 |
Liabilities | 869 | 880 |
Stockholders' equity: | ||
Common stock, $1 par value, 200 shares authorized; 88 and 72 shares issued and outstanding, respectively, as of March 31, 2024 and December 31, 2023 | 88 | 88 |
Additional paid-in capital | 465 | 465 |
Retained earnings | 1,555 | 1,479 |
Treasury stock, 16 shares at cost as of March 31, 2024 and December 31, 2023 | (386) | (386) |
Accumulated comprehensive loss | (104) | (89) |
Total stockholders' equity | 1,617 | 1,557 |
Total liabilities and stockholders' equity | $ 2,487 | $ 2,437 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statement of Cash Flows [Abstract] | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 108 | $ 22 |
Adjustments to net income: | ||
Depreciation and amortization | 31 | 28 |
Loss due to settlement | 0 | 6 |
Deferred Income Tax Expense (Benefit) | 9 | (2) |
Other adjustments, net | 5 | 9 |
Receivables | (47) | (8) |
Inventories | (23) | (76) |
Prepaid expenses and other current assets | 1 | (2) |
Accounts payable and accrued liabilities | 0 | (66) |
Income taxes payable, net of receivables | (22) | 30 |
Net cash provided by (used in) operating activities | 105 | (119) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Property, plant, and equipment additions | (41) | (114) |
Proceeds from sales of assets | 0 | 1 |
Net cash used in investing activities | (41) | (113) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Payment of cash dividend | (19) | (17) |
Repurchase of common stock | (13) | 0 |
Other financing activities | (6) | (10) |
Net cash used in financing activities | (39) | (27) |
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (3) | 3 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 22 | (257) |
Cash, cash equivalents and restricted cash at beginning of period | 222 | 383 |
Cash, cash equivalents and restricted cash at end of period | 244 | 126 |
Income Taxes Paid, Net | 10 | 33 |
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 7 | 7 |
Capital Expenditures Incurred but Not yet Paid | $ 7 | $ 28 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions | Total | Common Stock [Member] | Treasury Stock, Common | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] |
Common Stock, Shares, Outstanding | 88,000,000 | |||||
Common Stock, Amount, Outstanding | $ 88 | |||||
Treasury Stock, Shares | 16,000,000 | |||||
Treasury Stock, amount | $ (388) | |||||
Additional paid-in capital | $ 462 | |||||
Retained earnings | $ 1,371 | |||||
Accumulated comprehensive loss | $ (99) | $ (99) | ||||
Total stockholders' equity | 1,433 | |||||
Net income | 21 | |||||
Repurchase of common stock | 0 | |||||
Accumulated comprehensive loss | (80) | |||||
Common Stock, Shares, Outstanding | 88,000,000 | |||||
Common Stock, Amount, Outstanding | $ 88 | |||||
Treasury Stock, Shares | 16,000,000 | |||||
Treasury Stock, amount | 386 | $ (386) | ||||
Additional paid-in capital | 465 | $ 465 | ||||
Retained earnings | 1,479 | $ 1,479 | ||||
Accumulated comprehensive loss | (89) | $ (89) | ||||
Total stockholders' equity | 1,557 | |||||
Net income | 108 | |||||
Repurchase of common stock | $ (13) | |||||
Common Stock, Shares, Outstanding, Ending Balance at Mar. 31, 2024 | 72,000,000 | |||||
Common Stock, Shares, Outstanding | 72,000,000 | |||||
Treasury Stock, Shares | 16,000,000 | |||||
Treasury Stock, amount | $ 386 | |||||
Additional paid-in capital | 465 | |||||
Retained earnings | 1,555 | |||||
Accumulated comprehensive loss | (104) | |||||
Total stockholders' equity | $ 1,617 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||
Dividends paid (in dollars per share) | $ 0.26 | $ 0.24 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 2 | $ 2 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 88,000,000 | |
Common Stock, Shares, Outstanding | 72,000,000 | |
Treasury Stock, Shares | 16,000,000 |
Nature of Operations and Basis
Nature of Operations and Basis for Presentation | 3 Months Ended |
Mar. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Basis for Presentation | NATURE OF OPERATIONS AND BASIS FOR PRESENTATION Nature of Operations Louisiana-Pacific Corporation and our subsidiaries are a leading provider of high-performance building solutions that meet the demands of builders, remodelers, and homeowners worldwide. Serving the new home construction, repair and remodeling, and outdoor structures markets, we have leveraged our expertise to become an industry leader known for innovation, quality, reliability, and sustainability. The principal customers for our building solutions are retailers, wholesalers, and home building and industrial businesses in North America and South America, and we make limited sales to customers in Asia, Australia, and Europe. The Company operates 22 plants across the U.S., Canada, Chile, and Brazil, in certain cases, through foreign subsidiaries, an d operates additional facilities through a joint venture. References to "LP," the "Company," "we," "our," and "us" refer to Louisiana-Pacific Corporation and its consolidated subsidiaries as a whole. See "Note 14 - Selected Segment Data" below for further information regarding our products and segments. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal and recurring nature. These Condensed Consolidated Financial Statements and related Notes should be read in conjunction with our annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 14, 2024 (2023 Annual Report on Form 10-K). Results of operations for interim periods are not necessarily indicative of results to be expected for an entire year. |
Revenue (Notes)
Revenue (Notes) | 3 Months Ended |
Mar. 31, 2024 | |
Disaggregation of Revenue [Abstract] | |
Revenue from Contract with Customer [Text Block] | REVENUE We disaggregate revenue from contracts with customers into major product lines. We have determined that disaggregating revenue into these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. As noted in the segment reporting information in “Note 14 - Selected Segment Data” below, our reportable segments are Siding, Oriented Strand Board (OSB), and LP South America (LPSA). The following tables present our reportable segment revenues, disaggregated by revenue source (dollar amounts in millions): Three Months Ended March 31, 2024 By product type and family: Siding OSB LPSA Other Total Value-add Siding Solutions $ 359 $ — $ 7 $ — $ 366 OSB - Structural Solutions — 174 38 — 213 359 174 46 — 579 Commodity OSB - commodity — 134 — — 134 Other Other products 2 5 2 3 12 $ 361 $ 313 $ 47 $ 3 $ 724 Three Months Ended March 31, 2023 By product type and family: Siding OSB LPSA Other Total Value-add Siding Solutions $ 329 $ — $ 8 $ — $ 337 OSB - Structural Solutions — 104 46 — 150 329 104 54 — 487 Commodity OSB - commodity — 83 — — 83 Other Other products 2 2 1 8 14 $ 331 $ 189 $ 55 $ 8 $ 584 Revenue is recognized when obligations under the terms of a contract (e.g. , purchase orders) with our customers are satisfied; generally, this occurs with the transfer of control of our products at a point in time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The shipping cost incurred by us to deliver products to our customers is recorded in cost of sales. The expected costs associated with our warranties continue to be recognized as an expense when the products are sold. Our businesses routinely incur customer program costs to obtain favorable product placement, promote sales of products, and maintain competitive pricing. Customer program costs and incentives, including rebates and promotion and volume allowances, are accounted for as a reduction in net sales at the time the program is initiated and/or the revenue is recognized. The costs include, but are not limited to, volume allowances and rebates, promotional allowances, and cooperative advertising programs. These costs are recorded at the later of (i) the time of sale or (ii) the implementation of the program based on management’s best estimates. Estimates are based on historical and projected experience for each type of program or customer. Volume allowances are accrued based on our estimates of customer volume achievement and other factors incorporated into customer agreements, such as new product purchases, store sell-through, merchandising support, and customer training. Management adjusts accruals when circumstances indicate (typically as a result of a change in volume expectations). We ship some of our products to customers’ distribution centers on a consignment basis. We retain title to our products stored at the distribution centers. As our products are removed from the distribution centers by retailers and shipped to retailers’ stores, title passes from us to the retailers. At that time, we invoice the retailers and recognize revenue for these consignment transactions. We do not offer a right of return for products shipped to the retailers’ stores from the distribution centers. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Earnings per Share | EARNINGS PER SHARE Basic earnings per share is based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is 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, stock-settled appreciation rights, restricted stock units, and performance stock units) be excluded from the calculation of diluted earnings per share for the periods in which losses are reported because the effect is anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share (dollar and share amounts in millions, except per share amounts): Three Months Ended March 31, 2024 2023 Net income attributed to LP $ 108 $ 21 Weighted average common shares outstanding - basic 72 72 Dilutive effect of employee stock plans — — Shares used for diluted earnings per share 72 72 Earnings per share: Basic $ 1.49 $ 0.29 Diluted $ 1.48 $ 0.29 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We are required to classify these financial assets and liabilities into two groups: (i) recurring—measured on a periodic basis, and (ii) non-recurring—measured on an as-needed basis. The net carrying value of the 3.625% Senior Notes due in 2029 (2029 Senior Notes) was $347 million as of March 31, 2024 and December 31, 2023. Based on market quotations, the fair value of the 2029 Senior Notes was estimated to be $319 million and $314 million as of March 31, 2024 and December 31, 2023, respectively. The 2029 Senior Notes and other long-term debt are categorized as Level 1 in the U.S. GAAP fair value hierarchy. Fair values are based on trading activity among the Company’s lenders and the average bid and ask price is determined using published rates. In November 2022, LP entered into a Second Amended and Restated Credit Agreement with American AgCredit, PCA, as administrative agent and sole lead arranger, and CoBank, ACB, as letter of credit issuer (the Credit Agreement), relating to its revolving credit facility (as amended, the Amended Credit Facility). The Credit Agreement provides for a revolving credit facility in the principal amount of up to $550 million, with a $60 million sub-limit for letters of credit. All loans under the Credit Agreement become due on November 29, 2028. As of March 31, 2024, there were no outstanding borrowings under our Amended Credit Facility. |
Receivables
Receivables | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Receivables | RECEIVABLES Receivables consisted of the following (dollar amounts in millions): March 31, 2024 December 31, 2023 Trade receivables $ 148 $ 104 Other receivables 26 26 Income tax receivable 8 27 Allowance for doubtful accounts (2) (2) Total Receivables $ 180 $ 155 Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other receivables as of March 31, 2024 and December 31, 2023 primarily consist of sales tax receivables, vendor rebates, and other miscellaneous receivables. |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2024 | |
Inventory Disclosure [Abstract] | |
Inventories | INVENTORIES Inventories are valued at the lower of cost or net realizable value. Inventory cost includes materials, labor, and operating overhead. The major types of inventories (work in process is not material and is included in semi-finished inventory) are as follows (dollar amounts in millions): March 31, 2024 December 31, 2023 Logs $ 97 $ 81 Other raw materials 46 53 Semi-finished inventories 27 27 Finished products 228 217 Total Inventories $ 398 $ 378 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets (Notes) | 3 Months Ended |
Mar. 31, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | GOODWILL AND OTHER INTANGIBLES Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment by applying a fair value-based test on an annual basis, or more frequently if circumstances indicate a potential impairment. The Company’s annual assessment date is October 1. Changes in goodwill and other intangible assets for the three months ended March 31, 2024 are provided in the following table (dollar amounts in millions): Timber Licenses 1 Goodwill Developed Technology Beginning balance December 31, 2023 $ 25 $ 19 $ 7 Amortization (1) — — Ending balance March 31, 2024 $ 24 $ 19 $ 7 1 Timber licenses are included in Timber and timberlands on the Condensed Consolidated Balance Sheets. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES For interim periods, we recognize income tax expense 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. 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 in the current quarter. Changes in profitability estimates in various jurisdictions will impact our quarterly effective income tax rates. The provision for income taxes for the three months ended March 31, 2024 and 2023 reflected an estimated annual effective tax rate of 25% and 28% , respectively, excluding discrete items discussed below. The total effective tax rate for the three months ended March 31, 2024 was 28% , compared to 5% for the comparable period in 2023. We recognized a net discrete tax expense of $4 million and a net discrete tax benefit of $5 million in the three months ended March 31, 2024 and 2023, respectively. The net discrete tax expense and benefit primarily relates to an excess tax benefit from stock-based compensation and inflationary tax adjustments in certain South American entities. |
Impairments of Long-Lived Asset
Impairments of Long-Lived Assets | 3 Months Ended |
Mar. 31, 2024 | |
Asset Impairment Charges [Abstract] | |
Impairments of Long-Lived Assets | IMPAIRMENT OF LONG-LIVED ASSETS We review the carrying values of our long-lived assets for potential impairments and believe we have adequate support for such carrying values. If demand and pricing for our products fall to levels significantly below cycle average demand and pricing, should we decide to invest capital in alternative projects, or should changes occur related to our wood supply for our mills, it is possible that future impairment charges will be required. As of March 31, 2024, there were no indications of impairment. |
Product Warranties
Product Warranties | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Product Warranties | PRODUCT WARRANTIES We offer warranties on the sale of most of our products and record 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 three months ended March 31, 2024 and 2023, is summarized in the following table (dollar amounts in millions): Three Months Ended March 31, 2024 2023 Beginning balance $ 8 $ 8 Accrued to expense 1 1 Payments made — — Total warranty reserves 8 8 Current portion of warranty reserves (included in Accounts payable and accrued liabilities) (2) (2) Long-term portion of warranty reserves (included in Other long-term liabilities) $ 6 $ 7 |
Accumulated Comprehensive Loss
Accumulated Comprehensive Loss | 3 Months Ended |
Mar. 31, 2024 | |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Comprehensive Loss | ACCUMULATED COMPREHENSIVE LOSS Accumulated comprehensive loss is provided in the following table for the three months ended March 31, 2024 and 2023 (dollar amounts in millions): Translation Adjustments Other Total Balance at December 31, 2023 $ (89) $ (1) $ (89) Translation adjustments (15) — (15) Balance at March 31, 2024 $ (104) $ — $ (104) Translation Adjustments Other Total Balance at December 31, 2022 $ (94) $ (5) $ (99) Reclassified to income statement, net of taxes 1 — 4 4 Translation adjustments 15 — 15 Balance at March 31, 2023 $ (79) $ (1) $ (80) 1 Amounts of actuarial loss and prior service cost are components of net periodic benefit cost. |
Other Operating and Non-Operati
Other Operating and Non-Operating Income (Notes) | 3 Months Ended |
Mar. 31, 2024 | |
Nonoperating Income (Expense) [Abstract] | |
Other Operating and Non-Operating Income | OTHER OPERATING AND NON-OPERATING ITEMS Other operating credits and charges, net Other operating credits and charges, net, is comprised of the following components (dollar amounts in millions): Three Months Ended March 31, 2024 2023 Reorganization charges (2) (2) Other 3 (3) Other operating credits and charges, net $ 1 $ (5) Other non-operating items Other non-operating items is comprised of the following components (dollar amounts in millions): Three Months Ended March 31, 2024 2023 Pension settlement charges $ — $ (6) Foreign currency gain (loss) 1 (3) Other — 1 Other non-operating items $ 1 $ (8) |
Selected Segment Data
Selected Segment Data | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Selected Segment Data | SELECTED SEGMENT DATA We operate in three segments: Siding, OSB, and LPSA. Our business units have been aggregated into these three segments based upon the similarity of economic characteristics, customers, and distribution methods. Our 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. • Our Siding segment serves diverse end markets with a broad product offering, including LP ® SmartSide ® Trim & Siding, LP ® SmartSide ® ExpertFinish ® Trim & Siding, LP BuilderSeries ® Lap Siding, and LP ® Outdoor Building Solutions ™ (collectively referred to as Siding Solutions). Our Siding Solutions products consist of a full line of engineered wood siding, trim, soffit, and fascia. • Our OSB segment manufactures and distributes OSB structural panel products, including the innovative value-added OSB product portfolio known as LP ® Structural Solutions (which includes LP TechShield ® Radiant Barrier, LP WeatherLogic ® Air & Water Barrier, LP Legacy ® Premium Sub-Flooring, LP NovaCore ® Thermal Insulated Sheathing, LP FlameBlock ® Fire-Rated Sheathing, and LP TopNotch ® 350 Durable Sub-Flooring). OSB is manufactured using wood strands arranged in layers and bonded with resins. • Our LPSA segment manufactures and distributes LP OSB structural panel and Siding Solutions products in South America and certain export markets. This segment also sells and distributes a variety of companion products to support the region’s transition to wood frame construction. The LPSA segment carries out manufacturing operations in Chile and Brazil and operates sales offices in Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, and Peru. We evaluate the performance of our business segments based on net sales and segment Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on net sales and segment Adjusted EBITDA for our business segments. Segment Adjusted EBITDA is defined as income attributed to LP before interest expense, provision for income taxes, depreciation and amortization, and excludes stock-based compensation expense, loss on impairment attributed to LP, business exit charges, product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, pension settlement charges, and other non-operating items. Information about our business segments is as follows (dollar amounts in millions): Three Months Ended March 31, 2024 2023 NET SALES BY BUSINESS SEGMENT Siding $ 361 $ 331 OSB 313 189 LPSA 47 55 Other 3 8 Total sales $ 724 $ 584 NET INCOME TO ADJUSTED EBITDA RECONCILIATION Net income $ 108 $ 22 Add (deduct): Net income attributed to non-controlling interest — (1) Income attributed to LP 108 21 Provision for income taxes 41 1 Depreciation and amortization 31 28 Stock-based compensation expense 6 4 Other operating credits and charges, net — 5 Business exit charges (1) — Interest expense 4 3 Investment income (6) (5) Pension settlement charges — 6 Other non-operating items (1) 3 Adjusted EBITDA $ 182 $ 66 SEGMENT ADJUSTED EBITDA Siding $ 90 $ 67 OSB 90 5 LPSA 10 12 Other (1) (9) Corporate (7) (9) Adjusted EBITDA $ 182 $ 66 |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2024 By product type and family: Siding OSB LPSA Other Total Value-add Siding Solutions $ 359 $ — $ 7 $ — $ 366 OSB - Structural Solutions — 174 38 — 213 359 174 46 — 579 Commodity OSB - commodity — 134 — — 134 Other Other products 2 5 2 3 12 $ 361 $ 313 $ 47 $ 3 $ 724 Three Months Ended March 31, 2023 By product type and family: Siding OSB LPSA Other Total Value-add Siding Solutions $ 329 $ — $ 8 $ — $ 337 OSB - Structural Solutions — 104 46 — 150 329 104 54 — 487 Commodity OSB - commodity — 83 — — 83 Other Other products 2 2 1 8 14 $ 331 $ 189 $ 55 $ 8 $ 584 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted earnings per share (dollar and share amounts in millions, except per share amounts): Three Months Ended March 31, 2024 2023 Net income attributed to LP $ 108 $ 21 Weighted average common shares outstanding - basic 72 72 Dilutive effect of employee stock plans — — Shares used for diluted earnings per share 72 72 Earnings per share: Basic $ 1.49 $ 0.29 Diluted $ 1.48 $ 0.29 |
Receivables (Tables)
Receivables (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Receivables consisted of the following (dollar amounts in millions): March 31, 2024 December 31, 2023 Trade receivables $ 148 $ 104 Other receivables 26 26 Income tax receivable 8 27 Allowance for doubtful accounts (2) (2) Total Receivables $ 180 $ 155 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | The major types of inventories (work in process is not material and is included in semi-finished inventory) are as follows (dollar amounts in millions): March 31, 2024 December 31, 2023 Logs $ 97 $ 81 Other raw materials 46 53 Semi-finished inventories 27 27 Finished products 228 217 Total Inventories $ 398 $ 378 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Goodwill [Line Items] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Changes in goodwill and other intangible assets for the three months ended March 31, 2024 are provided in the following table (dollar amounts in millions): Timber Licenses 1 Goodwill Developed Technology Beginning balance December 31, 2023 $ 25 $ 19 $ 7 Amortization (1) — — Ending balance March 31, 2024 $ 24 $ 19 $ 7 |
Commiments and Contingencies Co
Commiments and Contingencies Commiments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Legal and Environmental Matters [Abstract] | |
Schedule of Loss Contingencies by Contingency [Table Text Block] | We maintain reserves for various contingent liabilities as follows (dollar amounts in millions): March 31, 2024 December 31, 2023 Environmental reserves $ 26 $ 26 Other reserves — — Total contingencies 26 26 Current portion (included in Accounts payable and accrued liabilities) (1) (1) Long-term portion $ 25 $ 25 |
Product Warranties (Tables)
Product Warranties (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Product Warranty Liability [Table Text Block] | The activity in warranty reserves for the three months ended March 31, 2024 and 2023, is summarized in the following table (dollar amounts in millions): Three Months Ended March 31, 2024 2023 Beginning balance $ 8 $ 8 Accrued to expense 1 1 Payments made — — Total warranty reserves 8 8 Current portion of warranty reserves (included in Accounts payable and accrued liabilities) (2) (2) Long-term portion of warranty reserves (included in Other long-term liabilities) $ 6 $ 7 |
Accumulated Comprehensive Loss
Accumulated Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated comprehensive loss is provided in the following table for the three months ended March 31, 2024 and 2023 (dollar amounts in millions): Translation Adjustments Other Total Balance at December 31, 2023 $ (89) $ (1) $ (89) Translation adjustments (15) — (15) Balance at March 31, 2024 $ (104) $ — $ (104) Translation Adjustments Other Total Balance at December 31, 2022 $ (94) $ (5) $ (99) Reclassified to income statement, net of taxes 1 — 4 4 Translation adjustments 15 — 15 Balance at March 31, 2023 $ (79) $ (1) $ (80) 1 Amounts of actuarial loss and prior service cost are components of net periodic benefit cost. |
Other Operating and Non-Opera_2
Other Operating and Non-Operating Income (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Nonoperating Income (Expense) [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Other operating credits and charges, net, is comprised of the following components (dollar amounts in millions): Three Months Ended March 31, 2024 2023 Reorganization charges (2) (2) Other 3 (3) Other operating credits and charges, net $ 1 $ (5) |
Schedule of Other Nonoperating Income (Expense) | Other non-operating items is comprised of the following components (dollar amounts in millions): Three Months Ended March 31, 2024 2023 Pension settlement charges $ — $ (6) Foreign currency gain (loss) 1 (3) Other — 1 Other non-operating items $ 1 $ (8) |
Selected Segment Data (Tables)
Selected Segment Data (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended March 31, 2024 2023 NET SALES BY BUSINESS SEGMENT Siding $ 361 $ 331 OSB 313 189 LPSA 47 55 Other 3 8 Total sales $ 724 $ 584 NET INCOME TO ADJUSTED EBITDA RECONCILIATION Net income $ 108 $ 22 Add (deduct): Net income attributed to non-controlling interest — (1) Income attributed to LP 108 21 Provision for income taxes 41 1 Depreciation and amortization 31 28 Stock-based compensation expense 6 4 Other operating credits and charges, net — 5 Business exit charges (1) — Interest expense 4 3 Investment income (6) (5) Pension settlement charges — 6 Other non-operating items (1) 3 Adjusted EBITDA $ 182 $ 66 SEGMENT ADJUSTED EBITDA Siding $ 90 $ 67 OSB 90 5 LPSA 10 12 Other (1) (9) Corporate (7) (9) Adjusted EBITDA $ 182 $ 66 |
Nature of Operations and Basi_2
Nature of Operations and Basis for Presentation (Details) | Mar. 31, 2024 operatingPlant |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Operating Segments, Number Of Operating Plants | 22 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disaggregation of Revenue [Line Items] | ||
Net sales | $ 724 | $ 584 |
Siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 361 | 331 |
OSB [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 313 | 189 |
Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 3 | 8 |
South America | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 47 | 55 |
Value-add [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 579 | 487 |
Value-add [Member] | Siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 359 | 329 |
Value-add [Member] | OSB [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 174 | 104 |
Value-add [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Value-add [Member] | South America | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 46 | 54 |
Value-add [Member] | SmartSide siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 366 | 337 |
Value-add [Member] | SmartSide siding [Member] | Siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 359 | 329 |
Value-add [Member] | SmartSide siding [Member] | OSB [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Value-add [Member] | SmartSide siding [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Value-add [Member] | SmartSide siding [Member] | South America | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 7 | 8 |
Value-add [Member] | OSB -Structural Solutions [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 213 | 150 |
Value-add [Member] | OSB -Structural Solutions [Member] | Siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Value-add [Member] | OSB -Structural Solutions [Member] | OSB [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 174 | 104 |
Value-add [Member] | OSB -Structural Solutions [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Value-add [Member] | OSB -Structural Solutions [Member] | South America | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 38 | 46 |
Commodity | OSB - commodity [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 134 | 83 |
Commodity | OSB - commodity [Member] | Siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Commodity | OSB - commodity [Member] | OSB [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 134 | 83 |
Commodity | OSB - commodity [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Commodity | OSB - commodity [Member] | South America | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 0 | 0 |
Other Product Types | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 12 | 14 |
Other Product Types | Other [Member] | Siding [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 2 | 2 |
Other Product Types | Other [Member] | OSB [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 5 | 2 |
Other Product Types | Other [Member] | Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | 3 | 8 |
Other Product Types | Other [Member] | South America | ||
Disaggregation of Revenue [Line Items] | ||
Net sales | $ 2 | $ 1 |
Earnings per Share (Details)
Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |||
Mar. 31, 2024 | Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | |
Earnings Per Share [Abstract] | ||||
Net Income (Loss) Attributable to Parent | $ 108 | $ 108 | $ 21 | $ 21 |
Basic (in shares) | 72 | 72 | ||
Dilutive effect of employee stock plans | 0 | 0 | ||
Diluted (in shares) | 72 | 72 | ||
Net income per share, basic (in dollars per share) | $ 1.49 | $ 0.29 | ||
Net income per share, diluted (in dollars per share) | $ 1.48 | $ 0.29 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 | Nov. 30, 2022 |
Senior unsecured notes, maturing 2029 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-term Debt, Fair Value | $ 319 | $ 314 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.625% | ||
Carrying value of long term debt | $ 347 | ||
Line of Credit | Revolving Credit Facility [Member] | Amended Credit Facility | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Maximum borrowing capacity | $ 550 | ||
Long-term debt, gross | $ 0 | ||
Letter of Credit Sub-limit | Revolving Credit Facility [Member] | Amended Credit Facility | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Maximum borrowing capacity | $ 60 |
Receivables (Details)
Receivables (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Receivables [Abstract] | ||
Trade receivables | $ 148 | $ 104 |
Other receivables | 26 | 26 |
Income tax receivable | 8 | 27 |
Allowance for doubtful accounts | (2) | (2) |
Total | $ 180 | $ 155 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Inventory [Line Items] | ||
Logs | $ 97 | $ 81 |
Other raw materials | 46 | 53 |
Semi-finished inventory | 27 | 27 |
Finished products | 228 | 217 |
Total | $ 398 | $ 378 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Goodwill [Line Items] | ||
Goodwill and other intangible assets | $ 19 | $ 19 |
Productive Land [Member] | ||
Goodwill [Line Items] | ||
Timber and Timberlands | 24 | 25 |
Amortization of Intangible Assets | (1) | |
Developed Technology Rights [Member] | ||
Goodwill [Line Items] | ||
Amortization of Intangible Assets | 0 | |
Finite-Lived Intangible Assets, Net | $ 7 | $ 7 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | ||
Estimated annual tax rate | 25% | 28% |
Effective Income Tax Rate Reconciliation, Percent | 28% | 5% |
Other Tax Expense (Benefit) | $ 4 | $ 5 |
Commiments and Contingencies _2
Commiments and Contingencies Commiments and Contingencies (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Loss Contingencies [Line Items] | ||
Loss Contingency Accrual | $ 25 | $ 25 |
Accrual for Environmental Loss Contingencies, Gross | 26 | 26 |
Current portion (included in Accounts payable and accrued liabilities) | (1) | (1) |
Long-term portion | 25 | 25 |
Settlement outstanding amount | 1 | 1 |
Environmental reserves | ||
Loss Contingencies [Line Items] | ||
Loss Contingency Accrual | 26 | 26 |
Other reserves | ||
Loss Contingencies [Line Items] | ||
Loss Contingency Accrual | $ 0 | $ 0 |
Product Warranties (Details)
Product Warranties (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward] | ||
Beginning Balance | $ 8 | $ 8 |
Accrued to expense | 1 | 1 |
Payments made | 0 | 0 |
Total warranty reserves | 8 | 8 |
Current portion of warranty reserves | (2) | (2) |
Long-term portion of warranty reserves | $ 6 | $ 7 |
Accumulated Comprehensive Los_2
Accumulated Comprehensive Loss (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Beginning Balance | $ (89) | $ (99) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 4 | |
Foreign currency translation adjustments | (15) | 15 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 4 |
Ending Balance | (104) | (80) |
Translation Adjustments | ||
Beginning Balance | (89) | (94) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | |
Foreign currency translation adjustments | (15) | 15 |
Ending Balance | (104) | (79) |
Other | ||
Beginning Balance | (1) | (5) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 4 | |
Foreign currency translation adjustments | 0 | 0 |
Ending Balance | $ 0 | $ (1) |
Other Operating and Non-Opera_3
Other Operating and Non-Operating Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Nonoperating Income (Expense) [Abstract] | ||
Reorganization charges | $ (2) | $ (2) |
Other | 3 | (3) |
Other operating credits and charges, net | 1 | (5) |
Loss due to settlement | 0 | (6) |
Foreign currency gain (loss) | 1 | (3) |
Other | 0 | 1 |
Other non-operating items | $ 1 | $ (8) |
Selected Segment Data (Details)
Selected Segment Data (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 USD ($) operatingSegment | Mar. 31, 2023 USD ($) | |
Segment Reporting Information [Line Items] | ||
Number of Operating Segments | operatingSegment | 3 | |
Net sales | $ 724 | $ 584 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 108 | 22 |
Net income attributed to non-controlling interest | 0 | (1) |
Income from continuing operations attributed to LP | 108 | 21 |
Provision for income taxes | 41 | 1 |
Depreciation and amortization | 31 | 28 |
Stock-based compensation expense | (6) | (4) |
Other operating income (expense) exclusive of product discontinuance charges | 0 | 5 |
Business exit charges | (1) | 0 |
Interest Expense | 4 | 3 |
Investment income, net of adjustments | 6 | 5 |
Investment income | 6 | 5 |
Loss due to settlement | 0 | 6 |
Other non-operating items | 1 | (3) |
Adjusted EBITDA | 182 | 66 |
Value-add [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 579 | 487 |
Siding [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 361 | 331 |
Adjusted EBITDA | 90 | 67 |
Siding [Member] | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Net sales | 361 | 331 |
Siding [Member] | Value-add [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 359 | 329 |
OSB [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 313 | 189 |
Adjusted EBITDA | 90 | 5 |
OSB [Member] | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Net sales | 313 | 189 |
OSB [Member] | Value-add [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 174 | 104 |
South America | ||
Segment Reporting Information [Line Items] | ||
Net sales | 47 | 55 |
Adjusted EBITDA | 10 | 12 |
South America | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Net sales | 47 | 55 |
South America | Value-add [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 46 | 54 |
Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 3 | 8 |
Adjusted EBITDA | (1) | (9) |
Other [Member] | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Net sales | 3 | 8 |
Other [Member] | Value-add [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 0 | 0 |
Corporate Segment [Member] | ||
Segment Reporting Information [Line Items] | ||
Adjusted EBITDA | $ (7) | $ (9) |
Uncategorized Items - lpx-20240
Label | Element | Value |
Payments of Dividends | us-gaap_PaymentsOfDividends | $ 19,000,000 |
Payments of Dividends | us-gaap_PaymentsOfDividends | $ 17,000,000 |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation | 6,000,000 |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation | 10,000,000 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | $ 0 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | 0 |
Common stock, Value, Shares acquired | lpx_CommonstockValueSharesacquired | 13,000,000 |
Other Comprehensive Income (Loss), Net of Tax | us-gaap_OtherComprehensiveIncomeLossNetOfTax | 19,000,000 |
Other Comprehensive Income (Loss), Net of Tax | us-gaap_OtherComprehensiveIncomeLossNetOfTax | (15,000,000) |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 6,000,000 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 4,000,000 |
Common Stock [Member] | ||
Common Stock, Value, Outstanding | us-gaap_CommonStockValueOutstanding | 88,000,000 |
Common Stock, Value, Outstanding | us-gaap_CommonStockValueOutstanding | $ 88,000,000 |
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 88,000,000 |
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 88,000,000 |
Common stock, Value, Shares acquired | lpx_CommonstockValueSharesacquired | $ 0 |
Common stock, Shares acquired | lpx_CommonstockSharesacquired | 0 |
AOCI Attributable to Parent [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax | $ (104,000,000) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax | (80,000,000) |
Other Comprehensive Income (Loss), Net of Tax | us-gaap_OtherComprehensiveIncomeLossNetOfTax | 19,000,000 |
Other Comprehensive Income (Loss), Net of Tax | us-gaap_OtherComprehensiveIncomeLossNetOfTax | (15,000,000) |
Retained Earnings [Member] | ||
Net Income (Loss) | us-gaap_NetIncomeLoss | 21,000,000 |
Net Income (Loss) | us-gaap_NetIncomeLoss | 108,000,000 |
Payments of Dividends | us-gaap_PaymentsOfDividends | 19,000,000 |
Payments of Dividends | us-gaap_PaymentsOfDividends | 17,000,000 |
Retained Earnings (Accumulated Deficit) | us-gaap_RetainedEarningsAccumulatedDeficit | 1,375,000,000 |
Retained Earnings (Accumulated Deficit) | us-gaap_RetainedEarningsAccumulatedDeficit | 1,555,000,000 |
Common stock, Value, Shares acquired | lpx_CommonstockValueSharesacquired | $ 13,000,000 |
Treasury Stock, Common [Member] | ||
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation | 6,000,000 |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation | 10,000,000 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | $ 10,000,000 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | $ 6,000,000 |
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation | 0 |
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation | 0 |
Treasury Stock, Common, Shares | us-gaap_TreasuryStockCommonShares | 16,000,000 |
Treasury Stock, Common, Shares | us-gaap_TreasuryStockCommonShares | 16,000,000 |
Treasury Stock, Value | us-gaap_TreasuryStockValue | $ (388,000,000) |
Treasury Stock, Value | us-gaap_TreasuryStockValue | (386,000,000) |
Additional Paid-in Capital [Member] | ||
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | 6,000,000 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | 10,000,000 |
Additional Paid in Capital, Common Stock | us-gaap_AdditionalPaidInCapitalCommonStock | 465,000,000 |
Additional Paid in Capital, Common Stock | us-gaap_AdditionalPaidInCapitalCommonStock | 455,000,000 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 4,000,000 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | $ 6,000,000 |