View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 06, 2019
Entity Information [Line Items]
Entity Registrant Name	LOUISIANA-PACIFIC CORP
Entity Central Index Key	0000060519
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		123,444,775

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 361.1	$ 878.4
Receivables, net of allowance for doubtful accounts of $2 million at March 31, 2019 and $1 million at December 31, 2018	165.9	127.6
Inventories	309.8	273.0
Prepaid expenses and other current assets	8.7	8.2
Total current assets	845.5	1,287.0
Timber and timberlands	55.5	62.4
Property, plant and equipment, net	1,031.2	1,010.4
Goodwill and other intangible assets	47.8	26.2
Operating lease assets	22.5	0.0
Investments in and advances to affiliates	9.3	49.4
Restricted cash	13.9	13.4
Other assets	65.3	61.2
Deferred tax asset	3.3	3.9
Total assets	2,094.3	2,514.0
LIABILITIES AND EQUITY
Current portion of long-term debt	5.3	5.0
Accounts payable and accrued liabilities	228.9	233.3
Income taxes payable	1.1	21.0
Current portion of contingency reserves	2.3	2.3
Total current liabilities	237.6	261.6
Long-term debt, excluding current portion	347.4	346.9
Deferred income taxes	69.5	62.2
Operating Lease liability, noncurrent	14.3	0.0
Contingency reserves, excluding current portion	8.0	8.5
Other long-term liabilities	130.5	134.7
Redeemable Noncontrolling Interest, Equity, Carrying Amount	14.4	0.0
Stockholders' equity:
Common stock, $1 par value, 200,000,000 shares authorized, 141,413,786 shares issued at March 31, 2019 and 153,358,542 shares issued at December 31, 2018	141.4	153.4
Additional paid-in capital	372.9	458.2
Retained earnings	1,314.3	1,612.6
Treasury stock, 17,967,927 shares and 16,525,351 shares, at cost	(411.6)	(377.6)
Accumulated comprehensive loss	(144.4)	(146.4)
Total stockholders' equity	1,272.6	1,700.2
Total liabilities and stockholders' equity	$ 2,094.0	$ 2,514.0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts	$ 2.1	$ 0.8

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 581.6	$ 691.3
Cost of sales	500.8	514.5
Gross Profit	80.8	176.8
Selling, general and administrative expenses	56.7	50.6
(Gain) loss on sale or impairment of long lived assets, net	0.5	(0.6)
Other Operating Charges And Credits, Net	1.9	(0.4)
Income from operations	21.7	127.2
Non-operating income (expense):
Interest expense, net of capitalized interest	(3.8)	(4.4)
Investment income	4.7	3.2
Other non-operating items	11.0	(1.4)
Total non-operating income (expense)	11.9	(2.6)
Income from continuing operations before taxes	33.6	124.6
Provision for income taxes	7.2	29.7
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	26.4	94.9
Income from continuing operations	26.8	95.0
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0.0	(4.0)
Loss from discontinued operations before taxes	(0.1)	(5.3)
Benefit for income taxes	0.0	(1.3)
Loss from discontinued operations	(0.1)	(4.0)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	26.3	90.9
Net income	26.7	90.9
Net loss attributable to redeemable noncontrolling interest	$ (0.4)	$ 0.0
Net income per share of common stock:
Income per share continuing operations	$ 0.20	$ 0.66
Loss per share discontinued operations	0.00	0.0
Net income per share - basic	0.20	0.63
Diluted net income per share of common stock
Income per share continuing operations	0.20	0.65
Loss per share discontinued operations	0.00	(0.03)
Net income per share - diluted	$ 0.20	$ 0.62
Basic	130.5	144.7
Weighted average shares of stock outstanding - diluted	131.5	146.7

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 26.3	$ 90.9
Other comprehensive income (loss)
Foreign currency translation adjustments	1.6	2.3
Defined benefit pension plans:
Amortization of amounts included in net periodic benefit cost, net of tax	0.9	1.2
Other comprehensive income (loss)	2.0	3.9
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	28.3	94.8
Net loss attributable to redeemable noncontrolling interest	(0.4)	0.0
Comprehensive income	28.7	94.8
Actuarial loss, net of tax
Defined benefit pension plans:
Change benefit obligations, translation adjustment	(0.1)	0.2
Amortization of amounts included in net periodic benefit cost, net of tax	0.9	1.1
Other comprehensive income (loss)	0.8	1.3
Prior service cost, net of tax
Defined benefit pension plans:
Amortization of amounts included in net periodic benefit cost, net of tax	0.0	0.1
Other comprehensive income (loss)	0.0	0.1
Other
Defined benefit pension plans:
Amortization of amounts included in net periodic benefit cost, net of tax	0.0	0.0
Other comprehensive income (loss)	$ 0.0	$ 0.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 26.3	$ 90.9
Income Taxes Paid	21.0	3.0
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	26.7	90.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	30.9	31.0
Equity in (income) loss of unconsolidated affiliates, including dividends	(1.9)	(0.8)
(Gain) loss on sale or impairment of long lived assets, net	0.5	(0.6)
Other operating credits and charges, net	1.9	(0.4)
Gain on acquisition	(14.4)	0.0
Stock-based compensation related to stock plans	2.2	2.2
Exchange (gain) loss on remeasurement	2.1	(0.1)
Cash settlements of warranties, net of accruals	(0.7)	4.1
Pension expense	1.1	1.6
Other adjustments, net of acquisition	0.0	0.7
Increase in receivables	(34.7)	(29.2)
Increase in inventories	(36.2)	(54.0)
Increase in prepaid expenses	(0.3)	(1.2)
Decrease in accounts payable and accrued liabilities	(15.4)	(38.0)
Increase (decrease) in income taxes payable and deferred income taxes	(15.0)	24.5
Net cash provided by (used in) operating activities	(54.0)	31.0
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(43.1)	(43.2)
Proceeds from sales of assets	0.0	0.8
Cash acquired in acquisition	39.6	0.0
Other investing activities	(1.0)	(0.2)
Net cash used in investing activities	(4.5)	(43.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of cash dividend	(16.9)	(18.9)
Purchase of stock	(438.2)	0.0
Taxes paid related to net share settlement of equity awards	3.6	5.7
Other financing activities	0.0	3.1
Net cash used in financing activities	(459.0)	(22.0)
EFFECT OF EXCHANGE RATE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	0.2	1.2
Net decrease in cash, cash equivalents and restricted cash	(517.0)	(32.0)
Cash, cash equivalents and restricted cash at beginning of period	891.8	941.3
Cash, cash equivalents and restricted cash at end of period	375.0	909.0
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	$ 5.0	$ 7.0

Statement of Shareholders Equity Statement - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Common Stock, Shares, Outstanding		153.4
Common Stock, Value, Outstanding		$ 153.4
Treasury Stock, Common, Shares			8.4
Treasury Stock, Value			$ (177.5)
Additional Paid in Capital, Common Stock				$ 470.6
Retained earnings					$ 1,280.1
Accumulated comprehensive loss	$ (122.1)					$ (122.1)
Total stockholders' equity	1,604.5
Net income	90.9				90.9
Dividends paid	(18.9)				(18.9)
Issuance of shares for stock plans and stock-based compensation, shares			(0.5)
Issuance of shares for stock plans and stock-based compensation, value	0.1		$ 10.0	10.1
Compensation expense associated with stock-based compensation	2.2			2.2
Taxes paid related to net settlement of stock-based awards, shares			0.3
Taxes paid related to net settlement of stock-based awards, value	(5.7)		$ (5.7)
Other comprehensive income	3.9					3.9
Effect of adoptions of ASU 2018-02 and 2014-09	(16.7)
Effect of adoptions of ASU 2018-02 and 2014-09 \| Accounting Standards Update 2014-09 [Member]	(4.4)				(4.4)
Effect of adoptions of ASU 2018-02 and 2014-09 \| Accounting Standards Update 2018-02 [Member]	0.0				16.7	(16.7)
Common Stock, Shares, Outstanding		153.4
Common Stock, Value, Outstanding		$ 153.4
Treasury Stock, Common, Shares			8.2
Treasury Stock, Value			$ (173.2)
Additional Paid in Capital, Common Stock				462.7
Retained earnings					1,364.4
Accumulated comprehensive loss	(134.9)					(134.9)
Total stockholders' equity	1,672.4
Common Stock, Shares, Outstanding		153.4
Common Stock, Value, Outstanding		$ 153.4
Treasury Stock, Common, Shares			16.5
Treasury Stock, Value	377.6		$ (377.6)
Additional Paid in Capital, Common Stock	458.2			458.2
Retained earnings	1,612.6				1,612.6
Accumulated comprehensive loss	(146.4)					(146.4)
Total stockholders' equity	1,700.2
Net income	26.7				26.7
Dividends paid	(16.9)				(16.9)
Issuance of shares for stock plans and stock-based compensation, shares			(0.3)
Issuance of shares for stock plans and stock-based compensation, value	0.1		$ (7.8)	7.7
Common stock, Shares acquired		(12.0)
Common stock, Value, Shares acquired		$ (12.0)
Purchase of treasury stock			1.7
Purchase of treasury stock	(438.3)		$ (38.2)
Accelerated Share Repurchase Program, Adjustment				(80.0)	(308.1)
Compensation expense associated with stock-based compensation	2.4			2.4
Taxes paid related to net settlement of stock-based awards, shares			0.1
Taxes paid related to net settlement of stock-based awards, value	(3.6)		$ (3.6)
Other comprehensive income	2.0					2.0
Common Stock, Shares, Outstanding		141.4
Common Stock, Value, Outstanding		$ 141.4
Treasury Stock, Common, Shares			18.0
Treasury Stock, Value	411.6		$ (411.6)
Additional Paid in Capital, Common Stock	372.9			$ 372.9
Retained earnings	1,314.3				$ 1,314.3
Accumulated comprehensive loss	(144.4)					$ (144.4)
Total stockholders' equity	$ 1,272.6

Basis For Presentation	3 Months Ended
Basis For Presentation	Mar. 31, 2019
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 us and our 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 our Annual Report on Form 10-K for the year ended December 31, 2018. All dollar amounts are shown in millions except per share.

Leases (Notes)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

NOTE 2 - LEASES

On January 1, 2019, we adopted ASU 2016-02, "Leases (Topic 842)" (ASC 842), which supersedes the lease accounting requirements in 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 company is required to present separately the current and non-current portion of the ROU asset and corresponding lease liability.

In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842)" Targeted Improvements, which provides an additional (and optional) transition method whereby the new lease standard is applied at the adoption date and recognized as an adjustment to retained earnings. The amendments have the same effective date and transition requirements as the new lease standard. We have elected to adopt using this optional transition method.

We determine if an arrangement is a lease at contract inception. A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration.

Our lease portfolio consists primarily of real estate, mobile equipment at our manufacturing facilities, railcars to transport our products, and a fleet of vehicles.

As part of our adoption of ASC 842, we have also elected to apply the following practical expedients as permitted under the new standard:


•	Package of practical expedients - we will not reassess whether expiring or existing contracts contain a lease, will not reassess the classification of expired or existing leases, and will not reassess whether lease initial direct costs would qualify for capitalization under the new lease accounting standard.


•	Lease and non-lease components as lessee - for leases across all asset classes in which we are a lessee, we will not separate non-lease components from lease components and instead will account for each separate lease component and the non-lease components associated with that lease component as a single lease component.


•	Short-term leases - we have elected not to recognize ROU assets and lease liabilities for short-term leases across all asset classes that have a lease term of 12 months or less. We recognize the lease payments associated with our short-term leases as an expense on a straight-line basis over the lease term.

Key estimates and judgments include how we determined the discount rate used to record the unpaid lease payments at present value and lease term.


•	ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As most of our leases do not provide an implicit rate, we used our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.


•	The lease term for all of our leases includes the noncancellable period of the lease plus any additional periods covered by either an option to extend (or not to terminate) the lease that we are reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor.

Quantitative Information



	Classification	March 31, 2019
Consolidated Balance Sheet
Assets:
Operating lease assets	Operating lease assets	$	23
Finance lease assets	Property, plant, and equipment, net	2
Total lease assets		$	24
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	8
Finance	Current portion of long-term debt	1
Noncurrent
Operating	Noncurrent operating lease liabilities	14
Finance	Long-term debt, excluding current portion	1
Total lease liabilities		$	24

Consolidated Statement of Income
Lease Cost:
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2
Finance lease cost
Amortization of leased assets	Cost of sales	—
Interest on lease liabilities	Interest expense, net of capitalized interest	—
Total lease cost		$	2



Maturity of Lease Liabilities	Operating Leases			Finance Leases		Total
2019	$	7		$	—	$	7
2020	8			—		8
2021	5			—		6
2022	3			—		3
2023	1			—		1
2024 and thereafter	—			—		—
Total lease payments	24			2		25
Less: Interest	(1		)	—		(1		)
Present value of lease liabilities	$	23		$	2	$	24



Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	3.2
Finance leases	3.4
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	4.3	%



Other Information	March 31, 2019
Short-term lease cost	$	1
Variable lease cost	6
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	—
Operating cash flows from operating leases	2
Financing cash flows from finance leases	—
Right-of-use assets obtained in exchange for new operating lease liabilities	6
Right-of-use assets obtained in exchange for new financing lease liabilities	1

Shown in the table below are future minimum operating lease commitments as of December 31, 2018, as disclosed in our 2018 Form 10-K, prior to adoption of the new lease standard.



Dollar amounts in millions
Year ended December 31,
2019	$	8
2020	7
2021	5
2022	2
2023	—
2024 and thereafter	—
Total	$	22

Quantitative Information



	Classification	March 31, 2019
Consolidated Balance Sheet
Assets:
Operating lease assets	Operating lease assets	$	23
Finance lease assets	Property, plant, and equipment, net	2
Total lease assets		$	24
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	8
Finance	Current portion of long-term debt	1
Noncurrent
Operating	Noncurrent operating lease liabilities	14
Finance	Long-term debt, excluding current portion	1
Total lease liabilities		$	24

Consolidated Statement of Income
Lease Cost:
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2
Finance lease cost
Amortization of leased assets	Cost of sales	—
Interest on lease liabilities	Interest expense, net of capitalized interest	—
Total lease cost		$	2



Maturity of Lease Liabilities	Operating Leases			Finance Leases		Total
2019	$	7		$	—	$	7
2020	8			—		8
2021	5			—		6
2022	3			—		3
2023	1			—		1
2024 and thereafter	—			—		—
Total lease payments	24			2		25
Less: Interest	(1		)	—		(1		)
Present value of lease liabilities	$	23		$	2	$	24



Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	3.2
Finance leases	3.4
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	4.3	%



Other Information	March 31, 2019
Short-term lease cost	$	1
Variable lease cost	6
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	—
Operating cash flows from operating leases	2
Financing cash flows from finance leases	—
Right-of-use assets obtained in exchange for new operating lease liabilities	6
Right-of-use assets obtained in exchange for new financing lease liabilities	1

Revenue (Notes)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customers [Abstract]

Revenue from Contract with Customer [Text Block]

NOTE 3 - REVENUE

Revenue is recognized when obligations under the terms of a contract (purchase orders) with our customers are satisfied; generally, this occurs with the transfer of control of our products. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Shipping cost incurred by us to deliver products to our customers are recorded in cost of sales. We recognize revenue as of a point in time.

The following tables disaggregate our revenue by product line and product type by segment for the quarter ended March 31, 2019 and 2018:



Quarter Ended March 31, 2019
By Product family:	Siding		OSB		EWP		South America		Other		Inter-segment			Total
SmartSide^® Strand siding	$	187	$	—	$	—	6		$	—	$	—		$	193
SmartSide^® Fiber siding	26		—		—		—		—		—			26
CanExel^® siding	17		—		—		—		—		—			17
OSB - commodity	3		107		2		—		—		(1		)	111
OSB - value-add	—		98		2		38		—		—			138
LVL	—		—		31		—		—		—			31
LSL	—		—		13		—		—		(1		)	12
I-joist	—		—		26		—		—		—			26
Plywood	—		—		7		—		—		—			7
Other	3		3		10		—		4		—			21
	$	236	$	208	$	90	$	45	$	4	$	(2	)	$	582
By Product type:
Commodity	$	3	$	107	$	8	$	—	$	—	$	(1	)	$	118
Value-add	230		98		72		44		—		(1		)	443
Other	3		3		10		—		4		—			21
	$	236	$	208	$	90	$	45	$	4	$	(2	)	$	582



Quarter Ended March 31, 2018
By Product family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
SmartSide^® Strand siding	$	165	$	—	$	—	$	7	$	—	$	—	$	172
SmartSide^® Fiber siding	26		—		—		—		—		—		26
CanExel^® siding	14		—		—		—		—		—		14
OSB - commodity	9		181		3		—		—		—		193
OSB - value-add	9		129		4		35		—		—		177
LVL	—		—		37		—		—		—		37
LSL	—		—		13		—		—		—		13
I-joist	—		—		32		—		—		—		32
Plywood	—		—		8		—		—		—		8
Other	4		3		9		1		3		—		20
	$	227	$	313	$	106	$	42	$	3	$	—	$	691
By Product type:
Commodity	$	9	$	181	$	10	$	—	$	—	$	—	$	201
Value-add	214		129		86		42		—		—		470
Other	4		3		9		1		3		—		20
	$	227	$	313	$	106	$	42	$	3	$	—	$	691

Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

STOCK-BASED COMPENSATION

We have 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 (shares or units), performance share awards payable in stock based upon the attainment of specified performance goals and SSARs. As of March 31, 2019, 3 million shares were available for grant under the 2013 Omnibus Plan.



	Quarter Ended
	March 31,
	2019			2018
Total stock-based compensation expense (cost of sales, selling, general and administrative and other operating credits and charges, net)	$	2		$	2
Income tax provision related to stock-based compensation	$	(1	)	$	(2	)
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	4		$	6

At March 31, 2019, $21 million of compensation cost related to unvested performance shares, restricted stock and SSARs attributable to future service had not yet been recognized.

During the first three months of 2019, we granted 195,452 performance units at an average grant date fair value of $25.19 per share and 323,760 restricted stock units at an average grant date fair value of $24.13 per share.

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE MEASUREMENTS We estimated our Senior Notes due in 2024 to have a fair value of $352 million at March 31, 2019 and $338 million at December 31, 2018 based upon market quotations. Carrying amounts reported on the balance sheet for cash and cash equivalents, accounts receivables, accounts payable and current portion of long-term debt approximate fair value due to the short-term maturity of these items.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS PER SHARE

Basic earnings per share are based upon 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. Our potentially dilutive securities consist of stock options, stock settled appreciation rights (SSARs), restricted stock or units and performance share awards.



	Quarter Ended
	March 31,
	2019	2018
Denominator for basic earnings per share:
Weighted average common shares outstanding - basic	131	145
Effect of dilutive securities:
Dilutive effect of employee stock plans	1	2
Denominator for diluted earnings per share:
Weighted average shares outstanding - diluted	132	147

For the three months ended March 31, 2019 and 2018, there were no SSARs that were considered not in-the-money for purposes of our earnings per share calculation.

Accelerated Share Repurchase Programs (Notes)	3 Months Ended
Accelerated Share Repurchase Programs (Notes)	Mar. 31, 2019
Equity [Abstract]
Accelerated Share Repurchases [Table Text Block]	NOTE 7 - SHARE REPURCHASE PROGRAM During the quarter ended March 31, 2019, we announced that our Board of Directors authorized an additional $600 million share repurchase program, including an accelerated share repurchase (ASR) program, which was initiated in February 2019. In connection with the ASR program, we entered into an agreement with Goldman, Sachs & Co. (GS) to repurchase $400 million of our common stock. Under the ASR, we received approximately 12 million shares of our common stock during the quarter ended March 31, 2019. At the final settlement of the ASR program, which is expected to occur prior to the end of the third quarter of 2019, GS may be required to deliver additional shares of common stock to us or, under certain circumstances, we may be required to deliver shares of our common stock or may elect to make a cash payment to GS, with the number of shares to be delivered or the amount of such payment based on the difference between the volume-weighted average price, less a discount, of our common stock during the term of the agreement and the initial $400 million paid.

Receivables

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Receivables

RECEIVABLES

Receivables consist of the following:



	March 31, 2019			December 31, 2018
Trade receivables	$	132		$	87
Income tax receivable	18			16
Other receivables	18			25
Allowance for doubtful accounts	(2		)	(1		)
Total	$	166		$	128

Other receivables at March 31, 2019 and December 31, 2018 primarily consist of sales tax receivables, vendor rebates, interest receivables, a receivable associated with an affiliate and other miscellaneous receivables.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Inventories

3 Months Ended

Mar. 31, 2019

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 are as follows (work in process is not material):



	March 31, 2019		December 31, 2018
Logs	$	77	$	57
Other raw materials	26		25
Semi-finished inventory	21		23
Finished products	186		168
Total	$	310	$	273

Redeemable Noncontrolling Interest (Notes)

3 Months Ended

Mar. 31, 2019

Business Combination, Step Acquisition [Abstract]

Redeemable Noncontrolling Interest

NOTE 10 - REDEEMABLE NONCONTROLLING INTEREST

Redeemable noncontrolling interest are interests in subsidiaries that are redeemable outside of our control either for cash or other assets. These interests are classified as mezzanine equity and measured at the greater of estimated redemption value at the end of each reporting period or the historical cost basis of the noncontrolling interest adjusted for cumulative earnings allocations. The resulting increases or decreases in the estimated redemption amount of redeemable preferred noncontrolling interest are affected by corresponding charges through income. Any adjustments recognized on redeemable common noncontrolling interest are affected by corresponding charges to accumulated paid in capital.

During the first quarter of 2019, we obtained a controlling interest in Entekra Holdings, LLC (Entekra). Entekra's results of operations have been fully consolidated for periods after December 31, 2018 and we established a redeemable noncontrolling interest related to the minority holders.

Due to the pre-existing ownership interest in Entekra, this acquisition was accounted for as a step acquisition in accordance with ASC 805, "Business Combinations". We recognized a gain of $14 million recorded within other non-operating items on our Consolidated Statements of Income in connection with this transaction to record our ownership interest in Entekra at fair value on the acquisition date based upon an appraisal.

Including our previously owned interest, we acquired net assets of $56 million, consisting of $41 million in current assets, $6 million in fixed assets, $25 million of goodwill and other intangible assets less $1 million in current liabilities and $15 million in non-controlling interest. Certain information about Entekra (e.g., pro forma financial information and allocation of purchase price) is not presented because such information is not material to our results of operations and financial position.



	Quarter Ended
	March 31,
	2019		2018
Beginning balance	$	—	$	—
Purchase of redeemable common and preferred stock	15		—
Adjustment to redemption value	—		—
Net loss attributable to redeemable non-controlling interest	—		—
Ending balance	$	14	$	—

As of March 31, 2019, Entekra has entered into a long term lease associated with their manufacturing facility which is currently under construction. In accordance with ASC 842, Entekra does not yet control the underlying asset. When Entekra obtains control, we anticipate that we will increase our ROU assets by $18 million and the related lease liability by a comparable amount.

Goodwill and Other Intangible Assets (Notes)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 11 - GOODWILL AND OTHER INTANGIBLES

Changes in goodwill and other intangible assets for the quarter ended March 31, 2019 is provided in the following table:



Dollar amounts in millions	2019
	Timber and timberlands			Goodwill		Developed Technology		Other Assets		Total
Beginning balance December 31,	$	41		$	16	$	10	$	—	$	67
Additions related to the consolidation of Entekra (Note 10)	—			10		12		3		25
Amortization	(1		)	—		—		—		(1		)
Total goodwill and other intangibles	$	40		$	26	$	22	$	3	$	91

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES 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. 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 profitability estimates in various jurisdictions will impact our quarterly effective income tax rates. For the first three months of 2019, our income tax expense on continuing operations reflects a rate of 21% as compared to 24% in the comparable period of 2018. For the first three months of 2019, our effective rate of 21% is equal to the U.S. statutory rate of 21%, as increases caused by the effects of foreign and state tax rates are offset by several discrete first quarter benefit items, including tax deductions related to stock-based compensation and the favorable resolution of prior period Chilean tax positions. For the first three months of 2018, the primary differences between the U.S. statutory rate of 21% and the effective rate of 24% relates to state income taxes, foreign tax rates and tax deductions related to stock-based compensation.

Other Operating Credits and Charges, Net	3 Months Ended
Other Operating Credits and Charges, Net	Mar. 31, 2019
Other Income and Expenses [Abstract]
Other Operating Income and Expense [Text Block]	OTHER OPERATING CREDITS AND CHARGES During the first quarter of 2019, we recorded a loss of $2 million on severance and other charges related to certain reorganizations within the corporate offices and property damage sustained by our Wilmington facility during a hurricane occurring in the fall of 2018.

Legal and Environmental Matters	3 Months Ended
Legal and Environmental Matters	Mar. 31, 2019
Legal and Environmental Matters [Abstract]
Legal and Environmental Matters	LEGAL AND ENVIRONMENTAL MATTERS Certain environmental matters and legal proceedings are discussed below. 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 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. We regularly monitor our estimated exposure to environmental loss contingencies and, as additional information becomes known, may change our estimates significantly. However, no estimate of the range of any such change can be made at this time. Recorded in Other assets is $1 million related to a receivable for reimbursements of environmental costs associated with a non-operating site as of March 31, 2019. Other Proceedings We and our subsidiaries are parties to other legal proceedings. Based on the information currently available, management believes the resolution of such proceedings will not have a material adverse effect on our financial position, results of operations, cash flows or liquidity.

Selected Segment Data

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Selected Segment Data

SELECTED SEGMENT DATA

We operate in four segments: Siding, North America Oriented Strand Board (OSB), Engineered Wood Products (EWP) and South America. Our business units have been aggregated into these four 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. 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 our Annual Report on Form 10-K for the year ended December 31, 2018. During the first quarter of 2019, certain timber operations where reclassified from other to EWP and we have reclassifed a significant portion of our unallocated expenses to the business segments effective during the first quarter of 2019. All prior periods presented have been adjusted for comparability.



	Quarter Ended
	March 31,
	2019			2018
Net sales
Siding	$	236		$	227
OSB	208			313
EWP	90			106
South America	45			42
Other	4			3
Intersegment sales	(2		)	—
	$	582		$	691
Operating profit (loss):
Siding	$	33		$	36
OSB	(8		)	89
EWP	3			—
South America	8			9
Other	(4		)	(2		)
Other operating credits and charges, net	(2		)	—
Gain (loss) on sale or impairment of long-lived assets, net	(1		)	1
General corporate and other expenses, net	(8		)	(6		)
Interest expense, net of capitalized interest	(4		)	(4		)
Investment income	5			3
Other non-operating items	11			(1		)
Income from continuing operations before taxes	34			125
Provision for income taxes	7			30
Income from continuing operations	$	26		$	95

Potential Impairments	3 Months Ended
Potential Impairments	Mar. 31, 2019
Asset Impairment Charges [Abstract]
Potential Impairments	POTENTIAL IMPAIRMENTS We continue to review certain operations and investments for potential impairments. We currently believe we have 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. We also review 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, we may be required to record impairment charges in connection with decisions to dispose of assets.

Product Warranty

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Guarantees and Indemnifications

We provide 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 quarter and three months ended March 31, 2019 and 2018 are summarized in the following table:



	Quarter Ended
	March 31,
	2019			2018
Beginning balance	$	14		$	25
Accrued to discontinued operations	—			5
Payments made	(1		)	(6		)
Total warranty reserves	13			24
Current portion of warranty reserves	(3		)	(9		)
Long-term portion of warranty reserves	$	10		$	15

We continue to monitor warranty and other claims associated with these products and believe as of March 31, 2019 that the reserves associated with these matters are adequate. However, it is possible that additional changes 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 Other long-term liabilities on our Consolidated Balance Sheets.

Discontinued Operations (Notes)	3 Months Ended
Discontinued Operations (Notes)	Mar. 31, 2019
Discontinued Operations [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	NOTE 18 - DISCONTINUED OPERATIONS LP has adopted and implemented plans to sell selected businesses and assets in order to improve its operating results. For all periods presented, these operations include residual losses of mills divested in past years and associated warranty and other liabilities associated with these operations. Included in the operating losses of discontinued operations for the quarter ended March 31, 2018 was an increase in reserves associated with our discontinued composite decking products of $5 million.

Defined Benefit Pension Plans

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Compensation and Employee Benefit Plans

DEFINED BENEFIT PENSION PLANS

The following table sets forth the net periodic pension cost for our defined benefit pension and postretirement plans during the three months ended March 31, 2019 and 2018:



	Quarter Ended
	March 31,
	2019			2018
Service cost	$	1		$	1
Other components of net periodic pension cost¹:
Interest cost	3			3
Expected return on plan assets	(4		)	(3		)
Amortization of net loss	1			2
Net periodic pension cost	$	2		$	2

¹Other components of net periodic pension cost are included in Other non-operating items on our Consolidated Statements of Income.

For the three months ended March 31, 2019, $1 million of net periodic pension cost was included in Cost of sales and $0 million included in Selling, general and administrative expenses. For the three months ended March 31, 2018, $1 million of net periodic pension cost was included in Cost of sales and $0 million included in Selling, general and administrative expenses.

During the quarter ended March 31, 2019, we made $1 million in pension contributions to our defined benefit pension plans. We expect to contribute about $4 million to our defined benefit pension plans in the remaining months of 2019.

Other Comprehensive Income Other Comprehensive Income

3 Months Ended

Mar. 31, 2019

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

NOTE 20 - ACCUMULATED COMPREHENSIVE INCOME (LOSS)

Other comprehensive income activity, net of tax, is provided in the following table for the quarter ended March 31, 2019 and 2018:



				Pension Adjustments
	Foreign currency translation adjustments			Actuarial losses			Prior service costs			Unrealized gain (loss) on investments			Other			Total
Balance at December 31, 2018	$	(57	)	$	(88	)	$	(5	)	$	4		$	(1	)	$	(146	)
Other comprehensive income (loss) before reclassifications	2			—			—			(1		)	—			1
Income taxes	—			—			—			—			—			—
Net other comprehensive income (loss) before reclassifications	2			—			—			—			—			1
Amounts reclassified from accumulated comprehensive income (loss)	—			1			—			—			—			1
Income taxes	—			—			—			—			—			—
Net amounts reclassified from cumulative other comprehensive income (loss)	—			1			—			—			—			1
Total other comprehensive income (loss)	2			1			—			—			—			2
Balance at March 31, 2019	$	(55	)	$	(87	)	$	(5	)	$	4		$	(1	)	$	(144	)



				Pension Adjustments
	Foreign currency translation adjustments			Actuarial losses			Prior service costs			Unrealized gain (loss) on investments		Other			Total
Balance at December 31, 2017	$	(40	)	$	(80	)	$	(5	)	$	4	$	(2	)	$	(122	)
Effect of adoption of ASU 2018-02	—			(17		)	—			1		—			(17		)
Other comprehensive income (loss) before reclassifications	2			—			—			—		—			3
Income taxes	—			—			—			—		—			—
Net other comprehensive income (loss) before reclassifications	2			—			—			—		—			3
Amounts reclassified from accumulated other comprehensive income (loss)	—			2			—			—		—			2
Income taxes	—			—			—			—		—			—
Net amounts reclassified from cumulative other comprehensive income (loss)	—			1			—			—		—			1
Total other comprehensive income (loss)	2			1			—			—		—			4
Balance at March 31, 2018	$	(37	)	$	(96	)	$	(5	)	$	4	$	(2	)	$	(135	)

The amounts reclassified from accumulated other comprehensive income (loss) are included in the computation of net periodic pension cost; see Note 19 for additional details. The net periodic pension cost is included in Cost of sales, Selling, general and administrative expenses and Other non-operating items in the Consolidated Statements of Income.

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Lessee, Lease, Description [Line Items]

Leases of Lessee Disclosure [Text Block]

NOTE 2 - LEASES

Our lease portfolio consists primarily of real estate, mobile equipment at our manufacturing facilities, railcars to transport our products, and a fleet of vehicles.

As part of our adoption of ASC 842, we have also elected to apply the following practical expedients as permitted under the new standard:


•	Package of practical expedients - we will not reassess whether expiring or existing contracts contain a lease, will not reassess the classification of expired or existing leases, and will not reassess whether lease initial direct costs would qualify for capitalization under the new lease accounting standard.


•	Lease and non-lease components as lessee - for leases across all asset classes in which we are a lessee, we will not separate non-lease components from lease components and instead will account for each separate lease component and the non-lease components associated with that lease component as a single lease component.


•	Short-term leases - we have elected not to recognize ROU assets and lease liabilities for short-term leases across all asset classes that have a lease term of 12 months or less. We recognize the lease payments associated with our short-term leases as an expense on a straight-line basis over the lease term.

Key estimates and judgments include how we determined the discount rate used to record the unpaid lease payments at present value and lease term.


•	ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As most of our leases do not provide an implicit rate, we used our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.


•	The lease term for all of our leases includes the noncancellable period of the lease plus any additional periods covered by either an option to extend (or not to terminate) the lease that we are reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor.

Quantitative Information



	Classification	March 31, 2019
Consolidated Balance Sheet
Assets:
Operating lease assets	Operating lease assets	$	23
Finance lease assets	Property, plant, and equipment, net	2
Total lease assets		$	24
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	8
Finance	Current portion of long-term debt	1
Noncurrent
Operating	Noncurrent operating lease liabilities	14
Finance	Long-term debt, excluding current portion	1
Total lease liabilities		$	24

Consolidated Statement of Income
Lease Cost:
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2
Finance lease cost
Amortization of leased assets	Cost of sales	—
Interest on lease liabilities	Interest expense, net of capitalized interest	—
Total lease cost		$	2



Maturity of Lease Liabilities	Operating Leases			Finance Leases		Total
2019	$	7		$	—	$	7
2020	8			—		8
2021	5			—		6
2022	3			—		3
2023	1			—		1
2024 and thereafter	—			—		—
Total lease payments	24			2		25
Less: Interest	(1		)	—		(1		)
Present value of lease liabilities	$	23		$	2	$	24



Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	3.2
Finance leases	3.4
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	4.3	%



Other Information	March 31, 2019
Short-term lease cost	$	1
Variable lease cost	6
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	—
Operating cash flows from operating leases	2
Financing cash flows from finance leases	—
Right-of-use assets obtained in exchange for new operating lease liabilities	6
Right-of-use assets obtained in exchange for new financing lease liabilities	1

Shown in the table below are future minimum operating lease commitments as of December 31, 2018, as disclosed in our 2018 Form 10-K, prior to adoption of the new lease standard.



Dollar amounts in millions
Year ended December 31,
2019	$	8
2020	7
2021	5
2022	2
2023	—
2024 and thereafter	—
Total	$	22

Quantitative Information



	Classification	March 31, 2019
Consolidated Balance Sheet
Assets:
Operating lease assets	Operating lease assets	$	23
Finance lease assets	Property, plant, and equipment, net	2
Total lease assets		$	24
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	8
Finance	Current portion of long-term debt	1
Noncurrent
Operating	Noncurrent operating lease liabilities	14
Finance	Long-term debt, excluding current portion	1
Total lease liabilities		$	24

Consolidated Statement of Income
Lease Cost:
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	2
Finance lease cost
Amortization of leased assets	Cost of sales	—
Interest on lease liabilities	Interest expense, net of capitalized interest	—
Total lease cost		$	2



Maturity of Lease Liabilities	Operating Leases			Finance Leases		Total
2019	$	7		$	—	$	7
2020	8			—		8
2021	5			—		6
2022	3			—		3
2023	1			—		1
2024 and thereafter	—			—		—
Total lease payments	24			2		25
Less: Interest	(1		)	—		(1		)
Present value of lease liabilities	$	23		$	2	$	24



Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	3.2
Finance leases	3.4
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	4.3	%



Other Information	March 31, 2019
Short-term lease cost	$	1
Variable lease cost	6
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	—
Operating cash flows from operating leases	2
Financing cash flows from finance leases	—
Right-of-use assets obtained in exchange for new operating lease liabilities	6
Right-of-use assets obtained in exchange for new financing lease liabilities	1

Revenue (Tables)

3 Months Ended

Mar. 31, 2019

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

The following tables disaggregate our revenue by product line and product type by segment for the quarter ended March 31, 2019 and 2018:



Quarter Ended March 31, 2019
By Product family:	Siding		OSB		EWP		South America		Other		Inter-segment			Total
SmartSide^® Strand siding	$	187	$	—	$	—	6		$	—	$	—		$	193
SmartSide^® Fiber siding	26		—		—		—		—		—			26
CanExel^® siding	17		—		—		—		—		—			17
OSB - commodity	3		107		2		—		—		(1		)	111
OSB - value-add	—		98		2		38		—		—			138
LVL	—		—		31		—		—		—			31
LSL	—		—		13		—		—		(1		)	12
I-joist	—		—		26		—		—		—			26
Plywood	—		—		7		—		—		—			7
Other	3		3		10		—		4		—			21
	$	236	$	208	$	90	$	45	$	4	$	(2	)	$	582
By Product type:
Commodity	$	3	$	107	$	8	$	—	$	—	$	(1	)	$	118
Value-add	230		98		72		44		—		(1		)	443
Other	3		3		10		—		4		—			21
	$	236	$	208	$	90	$	45	$	4	$	(2	)	$	582



Quarter Ended March 31, 2018
By Product family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
SmartSide^® Strand siding	$	165	$	—	$	—	$	7	$	—	$	—	$	172
SmartSide^® Fiber siding	26		—		—		—		—		—		26
CanExel^® siding	14		—		—		—		—		—		14
OSB - commodity	9		181		3		—		—		—		193
OSB - value-add	9		129		4		35		—		—		177
LVL	—		—		37		—		—		—		37
LSL	—		—		13		—		—		—		13
I-joist	—		—		32		—		—		—		32
Plywood	—		—		8		—		—		—		8
Other	4		3		9		1		3		—		20
	$	227	$	313	$	106	$	42	$	3	$	—	$	691
By Product type:
Commodity	$	9	$	181	$	10	$	—	$	—	$	—	$	201
Value-add	214		129		86		42		—		—		470
Other	4		3		9		1		3		—		20
	$	227	$	313	$	106	$	42	$	3	$	—	$	691

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation, Stock Options, Activity [Table Text Block]



	Quarter Ended
	March 31,
	2019			2018
Total stock-based compensation expense (cost of sales, selling, general and administrative and other operating credits and charges, net)	$	2		$	2
Income tax provision related to stock-based compensation	$	(1	)	$	(2	)
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	4		$	6

Earnings per Share (Tables) (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]



	Quarter Ended
	March 31,
	2019	2018
Denominator for basic earnings per share:
Weighted average common shares outstanding - basic	131	145
Effect of dilutive securities:
Dilutive effect of employee stock plans	1	2
Denominator for diluted earnings per share:
Weighted average shares outstanding - diluted	132	147

Receivables (Tables)

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Receivables consist of the following:



	March 31, 2019			December 31, 2018
Trade receivables	$	132		$	87
Income tax receivable	18			16
Other receivables	18			25
Allowance for doubtful accounts	(2		)	(1		)
Total	$	166		$	128

Inventories (Tables)

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

The major types of inventories are as follows (work in process is not material):



	March 31, 2019		December 31, 2018
Logs	$	77	$	57
Other raw materials	26		25
Semi-finished inventory	21		23
Finished products	186		168
Total	$	310	$	273

Redeemable Noncontrolling Interest (Tables)

3 Months Ended

Mar. 31, 2019

Business Combination, Step Acquisition [Abstract]

Redeemable Noncontrolling Interest [Table Text Block]



	Quarter Ended
	March 31,
	2019		2018
Beginning balance	$	—	$	—
Purchase of redeemable common and preferred stock	15		—
Adjustment to redemption value	—		—
Net loss attributable to redeemable non-controlling interest	—		—
Ending balance	$	14	$	—

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill [Line Items]

Schedule of Intangible Assets and Goodwill [Table Text Block]

Changes in goodwill and other intangible assets for the quarter ended March 31, 2019 is provided in the following table:



Dollar amounts in millions	2019
	Timber and timberlands			Goodwill		Developed Technology		Other Assets		Total
Beginning balance December 31,	$	41		$	16	$	10	$	—	$	67
Additions related to the consolidation of Entekra (Note 10)	—			10		12		3		25
Amortization	(1		)	—		—		—		(1		)
Total goodwill and other intangibles	$	40		$	26	$	22	$	3	$	91

Selected Segment Data (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]



	Quarter Ended
	March 31,
	2019			2018
Net sales
Siding	$	236		$	227
OSB	208			313
EWP	90			106
South America	45			42
Other	4			3
Intersegment sales	(2		)	—
	$	582		$	691
Operating profit (loss):
Siding	$	33		$	36
OSB	(8		)	89
EWP	3			—
South America	8			9
Other	(4		)	(2		)
Other operating credits and charges, net	(2		)	—
Gain (loss) on sale or impairment of long-lived assets, net	(1		)	1
General corporate and other expenses, net	(8		)	(6		)
Interest expense, net of capitalized interest	(4		)	(4		)
Investment income	5			3
Other non-operating items	11			(1		)
Income from continuing operations before taxes	34			125
Provision for income taxes	7			30
Income from continuing operations	$	26		$	95

Product Warranty (Tables)

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The activity in warranty reserves for the quarter and three months ended March 31, 2019 and 2018 are summarized in the following table:



	Quarter Ended
	March 31,
	2019			2018
Beginning balance	$	14		$	25
Accrued to discontinued operations	—			5
Payments made	(1		)	(6		)
Total warranty reserves	13			24
Current portion of warranty reserves	(3		)	(9		)
Long-term portion of warranty reserves	$	10		$	15

Defined Benefit Pension Plans (Tables)

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]



	Quarter Ended
	March 31,
	2019			2018
Service cost	$	1		$	1
Other components of net periodic pension cost¹:
Interest cost	3			3
Expected return on plan assets	(4		)	(3		)
Amortization of net loss	1			2
Net periodic pension cost	$	2		$	2

Other Comprehensive Income Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2019

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]



				Pension Adjustments
	Foreign currency translation adjustments			Actuarial losses			Prior service costs			Unrealized gain (loss) on investments			Other			Total
Balance at December 31, 2018	$	(57	)	$	(88	)	$	(5	)	$	4		$	(1	)	$	(146	)
Other comprehensive income (loss) before reclassifications	2			—			—			(1		)	—			1
Income taxes	—			—			—			—			—			—
Net other comprehensive income (loss) before reclassifications	2			—			—			—			—			1
Amounts reclassified from accumulated comprehensive income (loss)	—			1			—			—			—			1
Income taxes	—			—			—			—			—			—
Net amounts reclassified from cumulative other comprehensive income (loss)	—			1			—			—			—			1
Total other comprehensive income (loss)	2			1			—			—			—			2
Balance at March 31, 2019	$	(55	)	$	(87	)	$	(5	)	$	4		$	(1	)	$	(144	)



				Pension Adjustments
	Foreign currency translation adjustments			Actuarial losses			Prior service costs			Unrealized gain (loss) on investments		Other			Total
Balance at December 31, 2017	$	(40	)	$	(80	)	$	(5	)	$	4	$	(2	)	$	(122	)
Effect of adoption of ASU 2018-02	—			(17		)	—			1		—			(17		)
Other comprehensive income (loss) before reclassifications	2			—			—			—		—			3
Income taxes	—			—			—			—		—			—
Net other comprehensive income (loss) before reclassifications	2			—			—			—		—			3
Amounts reclassified from accumulated other comprehensive income (loss)	—			2			—			—		—			2
Income taxes	—			—			—			—		—			—
Net amounts reclassified from cumulative other comprehensive income (loss)	—			1			—			—		—			1
Total other comprehensive income (loss)	2			1			—			—		—			4
Balance at March 31, 2018	$	(37	)	$	(96	)	$	(5	)	$	4	$	(2	)	$	(135	)

Leases Leases - Financial Statement information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 22.5	$ 0.0
Finance lease assets	1.9
Total lease assets	24.0
Operating lease liability, current	8.2
Finance lease liability, current	0.6
Operating Lease liability, noncurrent	14.3	$ 0.0
Finance lease liability, noncurrent	1.0
Total lease liabilities	24.0
Operating lease cost	2.3
Amortization of leased assets	0.1
Interest expense, net of capitalized interest	0.0
Total lease costs	$ 2.0

Leases Maturity of Lease Liabilities (Details) $ in Millions	Mar. 31, 2019 USD ($)
Operating Lease Liabilities, Payments Due [Abstract]
2019	$ 7
2020	8
2021	5
2022	3
2023	1
2024 and after	0
Total lease payments	24
Less: Interest	(1)
Present value of lease liabilities	23
Finance Lease Liabilities, Payments, Due [Abstract]
2019	0
2020	0
2021	0
2022	0
2023	0
2024 and after	0
Total lease payments	2
Less: Interest	0
Present value of lease liabilities	2
Lease, liability, undiscounted excess amount	(1)
Lease Liabilities, Payments Due [Abstract]
2019	7
2020	8
2021	6
2022	3
2023	1
2024 and after	0
Lease, Liability, Payments Due	25
Total lease liabilities	$ 24

Leases Lease Term and Discount Rate (Details)	Mar. 31, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	3 years 2 months 25 days
Finance Lease, Weighted Average Remaining Lease Term	3 years 5 months 5 days
Operating Lease, Weighted Average Discount Rate, Percent	4.60%
Finance Lease, Weighted Average Discount Rate, Percent	4.30%

Leases Other Information (Details) $ in Millions	3 Months Ended
Leases Other Information (Details) $ in Millions	Mar. 31, 2019 USD ($)
Leases [Abstract]
Short-term Lease, Cost	$ 1
Variable Lease, Cost	6
Operating cash flows from finance leases	0
Operating cash flows from operating leases	2
Financing cash flows from finance leases	0
Right-of-use assets obtained in exchange for new operating lease liabilities	6
Right-of-use assets obtained in exchange for new financing lease liabilities	$ 1

Leases Previously Disclosed - Future Minimum Rent Commitments (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 8.4
2020	7.3
2021	4.6
2022	1.8
2023	0.0
2024 and thereafter	0.0
Total	$ 22.0

Stock-Based Compensation (Details) - USD ($)	3 Months Ended
Stock-Based Compensation (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (costs of sales and general and administrative)	$ 2,200,000	$ 2,200,000
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options	(1,100,000.0)	(2,200,000.0)
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$ 3,600,000	$ 5,700,000

Stock-Based Compensation Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under the 2013 Omnibus Plan	2,500,000
Compensation cost related to unvested awards, not yet recognized \| $	$ 21.1
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted in period	195,452
Weighted Average Grant Date Fair Value, Other than options \| $ / shares	$ 25.19
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted in period	323,760
Weighted Average Grant Date Fair Value, Other than options \| $ / shares	$ 24.13

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes due 2024, Fair Value Disclosure	$ 352.4	$ 337.9

Earnings per Share (Details) - shares shares in Millions	3 Months Ended
Earnings per Share (Details) - shares shares in Millions	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares outstanding - basic	130.5	144.7
Dilutive effect of employee stock plans	1.0	2.0
Weighted average shares outstanding - diluted	131.5	146.7

Earnings per Share Narrative (Details) shares in Millions	3 Months Ended
Earnings per Share Narrative (Details) shares in Millions	Mar. 31, 2019 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.0

Accelerated Share Repurchase Programs (Details) shares in Millions, $ in Millions	Mar. 31, 2019 USD ($) shares
Equity [Abstract]
Accelerated Share Repurchases, Settlement (Payment) or Receipt \| $	$ 400.0
Stock Repurchase Program, Number of Shares Authorized to be Repurchased \| shares	11.9

Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Trade receivables	$ 131.5	$ 86.7
Income tax receivable	18.4	16.3
Other receivables	18.1	25.4
Allowance for doubtful accounts	(2.1)	(0.8)
Total	$ 165.9	$ 127.6

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Logs	$ 77.3	$ 56.9
Other raw materials	25.9	24.8
Semi-finished inventory	21.0	23.4
Finished products	185.6	167.9
Total	$ 309.8	$ 273.0

Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Business Combination, Step Acquisition [Abstract]
Beginning balance	$ 0.0	$ 0.0
Ending balance	14.0	0.0
Purchase of redeemable common and preferred stock	15.0	0.0
Adjustment to redemption value	0.0	0.0
Net loss attributable to redeemable noncontrolling interest	(0.4)	0.0
Gain on acquisition	14.4	$ 0.0
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	56.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	41.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	6.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	25.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(1.1)
Right-of-Use Asset, not yet controlled	$ 18.0

Goodwill and Other Intangible Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Timber and Timberlands	$ 40,000,000	$ 41,000,000
Additions to Timberlands	0
Goodwill additions	10,000,000
Additions to goodwill and other intangibles	25,000,000
Amortization of Intangible Assets	(1,000,000)
Goodwill and other intangible assets	26,000,000	16,100,000
Goodwill and other intangibles	91,000,000	67,000,000
Developed Technology Rights [Member]
Goodwill [Line Items]
Additions to finite-lived Intangible Assets	12,000,000
Amortization of Intangible Assets	0
Finite-Lived Intangible Assets, Net	22,000,000	10,000,000
Other Intangible Assets [Member]
Goodwill [Line Items]
Additions to finite-lived Intangible Assets	3,000,000
Amortization of Intangible Assets	0
Finite-Lived Intangible Assets, Net	3,000,000	$ 0
Productive Land [Member]
Goodwill [Line Items]
Amortization of Intangible Assets	$ 1,000,000

Goodwill and Other Intangible Assets Other Intangible Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Timber and Timberlands	$ 40,000,000	$ 41,000,000
Goodwill	26,000,000	16,100,000
Goodwill and other intangible assets	47,800,000	26,200,000
Additions to Timberlands	0
Goodwill additions	10,000,000
Amortization of Intangible Assets	1,000,000
Developed Technology Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net	22,000,000	10,000,000
Additions to finite-lived Intangible Assets	12,000,000
Amortization of Intangible Assets	0
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net	3,000,000	$ 0
Additions to finite-lived Intangible Assets	3,000,000
Amortization of Intangible Assets	$ 0

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2019	Mar. 31, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	21.00%	21.00%
Effective Income Tax Rate Reconciliation, Percent	21.00%	24.00%

Other Operating Credits and Charges, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other Operating Charges And Credits, Net	$ (1.9)	$ 0.4

Legal and Environmental Matters Legal and Environmental Matters (Details) $ in Millions	Mar. 31, 2019 USD ($)
Environmental Remediation Obligations [Abstract]
Recorded in Other assets	$ 1.1

Selected Segment Data (Details) - USD ($) $ in Millions	3 Months Ended
Selected Segment Data (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 581.6	$ 691.3
Operating profit (loss):	21.7	127.2
Other operating credits and charges, net	(1.9)	0.4
Gain (loss) on sale or impairment of long-lived assets, net	(0.5)	0.6
General corporate and other expenses, net	(8.3)	(5.8)
Interest expense, net of capitalized interest	(3.8)	(4.4)
Investment income	4.7	3.2
Other non-operating items	11.0	(1.4)
Income from continuing operations before taxes	33.6	124.6
Provision for income taxes	7.2	29.7
Income from continuing operations	26.4	94.9
Siding [Member]
Segment Reporting Information [Line Items]
Revenues	235.6	227.0
Operating profit (loss):	33.1	35.9
OSB [Member]
Segment Reporting Information [Line Items]
Revenues	208.4	313.3
Operating profit (loss):	(7.7)	89.2
EWP [Member]
Segment Reporting Information [Line Items]
Revenues	90.4	105.8
Operating profit (loss):	2.5	0.3
South America [Member]
Segment Reporting Information [Line Items]
Revenues	44.6	42.4
Operating profit (loss):	8.0	8.9
Other [Member]
Segment Reporting Information [Line Items]
Revenues	4.4	2.8
Operating profit (loss):	(3.5)	(2.3)
Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues	$ (1.8)	$ 0.0

Product Warranty (Details) - USD ($) $ in Millions	3 Months Ended
Product Warranty (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 13.5	$ 24.7
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	0.0	5.0
Payments made	(0.9)	(6.1)
Total warranty reserves	13.0	24.2
Current portion of warranty reserves	(3.0)	(9.0)
Long-term portion of warranty reserves	$ 10.0	$ 15.2

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
Discontinued Operations (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations before taxes	$ (0.1)	$ (5.3)
Composite decking products [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations before taxes		$ 5.0

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Defined Benefit Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2019
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0.9	$ 1.1
Interest cost	3.0	2.9
Expected return on plan assets	(3.6)	(3.4)
Amortization of net loss	1.2	1.6
Net periodic pension cost	2.0	2.0
Net periodic pension cost included in cost of sales	0.6	0.7
Net periodic pension cost included in selling, general, and administrative expenses	0.3	$ 0.4
Pension Contributions	$ 0.5
Scenario, Forecast [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year			$ 4.0

Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Beginning Balance	$ (146.4)	$ (122.1)
Effect of adoption of ASU 2018-02		(16.7)
Other comprehensive income (loss) before reclassifications	1.0	2.7
Other Comprehensive Income (Loss) before Reclassifications, Tax	0.1	0.0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1.1	2.7
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	1.0	1.6
Reclassification from AOCI, Current Period, Tax	0.0	(0.4)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.9	1.2
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	2.0	3.9
Ending Balance	(144.4)	(134.9)
Foreign currency translation adjustments
Beginning Balance	(57.0)	(39.7)
Other comprehensive income (loss) before reclassifications	1.6	2.3
Other Comprehensive Income (Loss) before Reclassifications, Tax	0.0	0.0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1.6	2.3
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, Portion Attributable to Parent	1.6	2.3
Ending Balance	(55.4)	(37.4)
Actuarial loss, net of tax
Beginning Balance	(88.2)	(79.5)
Effect of adoption of ASU 2018-02		(17.4)
Other comprehensive income (loss) before reclassifications	(0.1)	0.2
Other Comprehensive Income (Loss) before Reclassifications, Tax	0.0	0.0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(0.1)	0.2
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	1.2	1.5
Reclassification from AOCI, Current Period, Tax	(0.3)	(0.4)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.9	1.1
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0.8	1.3
Ending Balance	(87.4)	(95.6)
Prior service cost, net of tax
Beginning Balance	(4.5)	(4.9)
Other comprehensive income (loss) before reclassifications	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	0.0	0.1
Reclassification from AOCI, Current Period, Tax	0.0	0.0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.0	0.1
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0.0	0.1
Ending Balance	(4.5)	(4.8)
Unrealized gain (loss) on investments
Beginning Balance	4.3	3.5
Other comprehensive income (loss) before reclassifications	(0.5)	0.2
Other Comprehensive Income (Loss) before Reclassifications, Tax	0.1	0.0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(0.4)	0.2
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, Portion Attributable to Parent	(0.4)	0.2
Ending Balance	3.9	4.4
Other
Beginning Balance	(1.0)	(1.5)
Other comprehensive income (loss) before reclassifications	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	0.0	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, Portion Attributable to Parent	0.0	0.0
Ending Balance	(1.0)	(1.5)
AOCI Attributable to Parent [Member]
Beginning Balance	(146.4)	(122.1)
Ending Balance	$ (144.4)	(134.9)
Accounting Standards Update 2018-02 [Member]
Effect of adoption of ASU 2018-02		0.0
Accounting Standards Update 2018-02 [Member] \| AOCI Attributable to Parent [Member]
Effect of adoption of ASU 2018-02		$ (16.7)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 581.6	$ 691.3
Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	235.6	227.0
OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	208.4	313.3
EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	90.4	105.8
South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	44.6	42.4
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	4.4	2.8
Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	(1.8)	0.0
SmartSide Strand siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	193.0	172.0
SmartSide Strand siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	187.0	165.1
SmartSide Strand siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Strand siding [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Strand siding [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	6.0	6.8
SmartSide Strand siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Strand siding [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Fiber siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	26.0	26.0
SmartSide Fiber siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	25.8	25.9
SmartSide Fiber siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Fiber siding [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Fiber siding [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Fiber siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
SmartSide Fiber siding [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
CanExel siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	17.0	14.0
CanExel siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	16.9	13.9
CanExel siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
CanExel siding [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
CanExel siding [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
CanExel siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
CanExel siding [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
OSB - commodity [Member]
Disaggregation of Revenue [Line Items]
Revenues	111.0	193.0
OSB - commodity [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	3.0	8.7
OSB - commodity [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	106.9	181.1
OSB - commodity [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	1.7	2.8
OSB - commodity [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
OSB - commodity [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
OSB - commodity [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	(0.9)	0.0
OSB - value-add [Member]
Disaggregation of Revenue [Line Items]
Revenues	138.0	177.0
OSB - value-add [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	9.2
OSB - value-add [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	98.3	129.1
OSB - value-add [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	2.1	4.1
OSB - value-add [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	38.0	34.9
OSB - value-add [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
OSB - value-add [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LVL [Member]
Disaggregation of Revenue [Line Items]
Revenues	31.0	37.0
LVL [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LVL [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LVL [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	30.6	36.6
LVL [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LVL [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LVL [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LSL [Member]
Disaggregation of Revenue [Line Items]
Revenues	12.0	13.0
LSL [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LSL [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LSL [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	13.2	13.3
LSL [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LSL [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
LSL [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	(0.9)	0.0
I Joist [Member]
Disaggregation of Revenue [Line Items]
Revenues	26.0	32.0
I Joist [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
I Joist [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
I Joist [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	26.4	32.1
I Joist [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
I Joist [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
I Joist [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Plywood [Member]
Disaggregation of Revenue [Line Items]
Revenues	7.0	8.0
Plywood [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Plywood [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Plywood [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	6.7	7.6
Plywood [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Plywood [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Plywood [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	20.5	20.0
Other [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	2.9	4.2
Other [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	3.2	3.1
Other [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	9.7	9.3
Other [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.7
Other [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	4.4	2.8
Other [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Commodity [Member]
Disaggregation of Revenue [Line Items]
Revenues	118.0	201.0
Commodity [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	3.0	8.7
Commodity [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	106.9	181.1
Commodity [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	8.4	10.4
Commodity [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Commodity [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Commodity [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	(0.9)	0.0
Value-add [Member]
Disaggregation of Revenue [Line Items]
Revenues	443.1	470.3
Value-add [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	229.7	214.1
Value-add [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	98.3	129.1
Value-add [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	72.3	86.1
Value-add [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	44.3	41.7
Value-add [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Value-add [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	(0.9)	0.0
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	20.5	20.0
Other [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Revenues	2.9	4.2
Other [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Revenues	3.2	3.1
Other [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Revenues	9.7	9.3
Other [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Revenues	0.3	0.7
Other [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	4.4	2.8
Other [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 0.0	$ 0.0