0001793498-20-000024 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 30, 2020
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	414 Union Street
Entity Address, Address Line Two	Suite 2000
City Area Code	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37219
City Area Code	(615)
Local Phone Number	986 - 5600
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, 2020
Entity File Number	1-7107
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		112,206,179
Security Exchange Name	NYSE

Consolidated Statement of Income - USD ($) $ in Millions	3 Months Ended
Consolidated Statement of Income - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Net sales	$ 585.0	$ 582.0
Cost of sales	(477.0)	(501.0)
Gross Profit	108.0	81.0
Selling, general, and administrative expenses	(55.0)	(56.0)
Impairment of long-lived assets	(7.0)	(1.0)
Other Operating Charges And Credits, Net	(2.0)	(2.0)
Income from operations	44.0	22.0
Non-operating income (expense):
Interest expense, net	(7.0)	1.0
Other operating credits and charges, net	5.0	11.0
Income before income taxes	42.0	34.0
Provision for income taxes	(9.0)	(7.0)
Net income	33.0	26.0
Net loss attributed to noncontrolling interest	0.0	1.0
Net income attributed to LP	$ 33.0	$ 27.0
Basic net income per share of common stock:
Net income per share - basic	$ 0.29	$ 0.20
Diluted net income per share of common stock
Net income per share - diluted	$ 0.29	$ 0.20
Basic	112,000,000	131,000,000
Weighted average shares of stock outstanding - diluted	113,000,000	132,000,000

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 33.0	$ 26.0
Other comprehensive income (loss)
Other comprehensive income (loss), net of tax	(22.0)	2.0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	11.0	28.0
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	0.0	0.0
Comprehensive income (loss) attributed to LP	11.0	29.0
Foreign currency translation adjustments
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(23.0)	2.0
Unrealized gain (loss) on investments
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0.0	(1.0)
Amortization of pension and post-retirement prior service costs and net loss
Other comprehensive income (loss)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 1.0	$ 1.0

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 488.0	$ 181.0
Receivables, net of allowance for doubtful accounts of $1 million at March 31, 2020, and December 31, 2019, respectively	172.0	164.0
Inventories	284.0	265.0
Prepaid expenses and other current assets	11.0	9.0
Assets held for sale	21.0	0.0
Total current assets	976.0	619.0
Timber and timberlands	56.0	63.0
Property, plant, and equipment, net	930.0	965.0
Operating lease assets	43.0	44.0
Goodwill and other intangible assets	53.0	53.0
Investments in and advances to affiliates	12.0	10.0
Restricted Cash, Noncurrent	0.0	14.0
Other assets	62.0	67.0
Total assets	2,132.0	1,835.0
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	208.0	242.0
Income taxes payable	6.0	2.0
Total current liabilities	214.0	244.0
Long-term portion	698.0	348.0
Deferred Income Tax Liabilities, Net	65.0	73.0
Operating Lease liability, noncurrent	34.0	36.0
Other long-term liabilities	127.0	133.0
Liabilities	1,138.0	834.0
Redeemable noncontrolling interest	10.0	10.0
Stockholders' equity:
Common stock, $1 par value, 200,000,000 shares authorized; shares 129,665,899 and 112,170,565 shares issued and outstanding, respectively, as of March 31, 2020; and 129,665,899 and 111,945,021 shares issued and outstanding, respectively, as of December 31, 2019	130.0	130.0
Additional paid-in capital	448.0	454.0
Retained earnings	983.0	966.0
Treasury stock, 17,495,334 shares and 17,720,878 shares, at cost as of March 31, 2020, and December 31, 2019, respectively	(402.0)	(406.0)
Accumulated comprehensive loss	(175.0)	(153.0)
Total stockholders' equity	984.0	991.0
Total liabilities and stockholders' equity	$ 2,132.0	$ 1,835.0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1.0	$ 1.0
Common Stock, Par or Stated Value Per Share	$ 1	$ 1
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	129,665,899	129,665,899
Common Stock, Shares, Outstanding	112,170,565	111,945,021
Treasury Stock, Shares	17,495,334	17,720,878

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 33.0	$ 26.0
Adjustments to net income:
Depreciation and amortization	28.0	31.0
Impairment of Long-Lived Assets Held-for-use	7.0	1.0
Gain on acquisition	0.0	(14.0)
Deferred Income Tax Expense (Benefit)	(4.0)	(6.0)
Other adjustments, net	(5.0)	3.0
Receivables	(31.0)	(35.0)
Prepaid expenses and other current assets	(1.0)	0.0
Inventories	(36.0)	(36.0)
Accounts payable and accrued liabilities	(16.0)	(15.0)
Income taxes payable, net of receivables	(16.0)	9.0
Net cash used in operating activities	(9.0)	(54.0)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(24.0)	(43.0)
Cash acquired in acquisition	0.0	40.0
Other investing activities	0.0	(1.0)
Net cash used in investing activities	(24.0)	(4.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Issuance of Long-term Debt	350.0	0.0
Payment of cash dividend	(16.0)	(17.0)
Purchase of stock	0.0	(438.0)
Other financing activities	(5.0)	(4.0)
Net cash provided by (used in) financing activities	329.0	(459.0)
EFFECT OF EXCHANGE RATE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(3.0)	0.0
Net increase (decrease) in cash, cash equivalents and restricted cash	293.0	(517.0)
Cash, cash equivalents and restricted cash at beginning of period	195.0	892.0
Cash, cash equivalents and restricted cash at end of period	488.0	375.0
Cash paid for income taxes	0.0	21.0
Cash paid for interest, net of cash received	10.0	5.0
Unpaid capital expenditures	$ 7.0	$ 21.0

Statement of Shareholders Equity Statement - USD ($) $ 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		153,000,000
Common Stock, Amount, Outstanding		$ 153.0
Treasury Stock, Shares			16,000,000
Treasury Stock, amount			$ (378.0)
Additional paid-in capital				$ 458.0
Retained earnings					$ 1,613.0
Accumulated comprehensive loss						$ (146.0)
Total stockholders' equity	$ 1,700.0
Net income	27.0				27.0
Dividends paid	(17.0)				(17.0)
Issuance of shares under stock plans			0
Issuance of shares under stock plans, amount	$ 0.0		$ 8.0	8.0
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	(4,000,000)		(4,000,000)
Common stock, Shares acquired		(12,000,000)	2,000,000
Common stock, Value, Shares acquired	$ (438.0)	$ (12.0)	$ (38.0)	(80.0)	(308.0)
Compensation expense associated with stock-based compensation	2.0			2.0
Other comprehensive income	2.0					2.0
Common Stock, Shares, Outstanding		141,000,000
Common Stock, Amount, Outstanding		$ 141.0
Treasury Stock, Shares			18,000,000
Treasury Stock, amount			$ (412.0)
Additional paid-in capital				373.0
Retained earnings					1,314.0
Accumulated comprehensive loss	(144.0)					(144.0)
Total stockholders' equity	$ 1,273.0
Common Stock, Shares, Outstanding	111,945,021	130,000,000
Common Stock, Amount, Outstanding		$ 130.0
Treasury Stock, Shares			18,000,000
Treasury Stock, amount	$ 406.0		$ (406.0)
Additional paid-in capital	454.0			454.0
Retained earnings	966.0				966.0
Accumulated comprehensive loss	(153.0)					(153.0)
Total stockholders' equity	991.0
Net income	33.0				33.0
Dividends paid	(16.0)				(16.0)
Issuance of shares under stock plans			0
Issuance of shares under stock plans, amount	$ 0.0		$ 8.0	8.0
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	4,000,000		4,000,000
Compensation expense associated with stock-based compensation	$ 2.0			2.0
Other comprehensive income	$ (22.0)					(22.0)
Common Stock, Shares, Outstanding	112,170,565	130,000,000
Common Stock, Amount, Outstanding		$ 130.0
Treasury Stock, Shares			18,000,000
Treasury Stock, amount	$ 402.0		$ (402.0)
Additional paid-in capital	448.0			$ 448.0
Retained earnings	983.0				$ 983.0
Accumulated comprehensive loss	(175.0)					$ (175.0)
Total stockholders' equity	$ 984.0

Basis For Presentation	3 Months Ended
Basis For Presentation	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis for Presentation	Nature of Operations Louisiana-Pacific Corporation and our subsidiaries are a leading provider of high-performance building solutions serving the new home construction, repair and remodeling, and outdoor structures markets. In addition to our U.S. operations, the Company also maintains manufacturing facilities in Canada, Chile, and Brazil through foreign subsidiaries and joint ventures. The principal customers for our building solutions are retailers, wholesalers, and homebuilding and industrial businesses in North America and South America, with limited sales to Asia, Australia, and Europe. References to "LP," "the Company," "we," "our," and "us" refer to Louisiana-Pacific Corporation and its consolidated subsidiaries as a whole. Basis for Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States (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 notes hereto should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on February 13, 2020 (2019 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. All dollar amounts are shown in millions except per share. COVID-19 Impact In March 2020, the World Health Organization (WHO) characterized the outbreak of COVID-19 as a global pandemic and recommended containment and mitigations measures. In response to this declaration and the rapid global spread of COVID-19, national, state, and local governments have taken extraordinary, wide-ranging actions to contain the outbreak and spread of COVID-19, including quarantines, "stay-at-home" orders and similar mandates imposing varying degrees of restrictions on social and commercial activity to promote social distancing. The pandemic and the resulting containment did not materially impact our results for the three months ended March 31, 2020, due to our ability to continue operations and deliver orders through the end of the period. However, the COVID-19 pandemic and actions taken in response thereto are continuing to have a significant adverse effect on many sectors of the economy, including new home building and repair and remodel activity. We have reduced mill operating schedules to balance production and demand. While this reduction in production is currently expected to be temporary, the duration of the COVID-19 pandemic, the actions to contain the pandemic and treat its impacts, and the effects on our operations are highly uncertain and cannot be predicted at this time. Therefore, while we expect the reduced production to negatively impact our business, results of operations, cash flows and financial position, the related financial impact cannot be reasonably estimated at this time. In March 2020, we borrowed $350 million under our revolving credit facility with American AgCredit, PCA, as administrative agent and CoBank, ACB, as a letter of credit issuer, and various lenders (the "Credit Facility") as a precautionary measure, to ensure funds are available to meet our obligations for a substantial period of time in response to the COVID-19 pandemic. Additionally, on May 1, 2020, we entered into an amendment to our amended and restated credit agreement with various lenders and American AgCredit, PCA, as administrative agent (the "Amended Credit Facility") to provide an incremental $200 million revolving credit facility. As of March 31, 2020, we had $488 million of cash and cash equivalents. Additionally, in response to the current business environment as impacted by COVID-19, we are taking precautionary measures and adjusting our operational needs, including a significant reduction in capital spending and discretionary spending. As a result of the economic and business impact of COVID-19, we may be required to revise certain accounting estimates and judgments such as, but not limited to, those related to the valuation of goodwill, intangibles, long-lived assets, accounts receivable, and inventory, which could have a material adverse effect on our financial position and results of operations. Recently Adopted Accounting Policies In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326). This ASU sets forth a "current expected credit loss" (CECL) model, which requires the measurement of all expected credit losses for financial instruments or other assets (e.g., trade receivables), held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. The Company adopted ASU 2016-13 on January 1, 2020. This adoption did not have a material impact on the Company’s Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350). The standard simplifies the accounting for goodwill impairments by eliminating step 2 from the goodwill impairment test. The Company adopted ASU 2017-14 on January 1, 2020. This adoption did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820). The standard amends ASC 820 to add and remove disclosure requirements related to fair value measurement. The Company adopted ASU 2018-13 on January 1, 2020. This adoption did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (Subtopic 350-40). The standard provides additional guidance on the accounting for costs of implementation activities performed in a cloud computing arrangement that is a service contract. The Company adopted ASU 2018-15 on January 1, 2020, using the prospective transition method. This adoption did not have a material impact on the Company’s Consolidated Financial Statements. Accounting Standards Issued But Not Yet Adopted In August 2018, the FASB issued ASU 2018-14, Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans, which amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The amended guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include (a) the amounts in accumulated OCI expected to be recognized in net periodic benefit costs over the next fiscal year, and (b) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for post-retirement health care benefits. Additional disclosures include descriptions of significant gains and losses affecting the benefit obligation for the period. The amended guidance is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The adoption of this guidance will modify our disclosures but is not expected to have a material effect on our Consolidated Financial Statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). This ASU simplifies the accounting for income taxes by, among other things, eliminating certain existing exceptions related to the general approach in ASC 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to date loss limitations and changes in tax laws, and clarifying the accounting for transactions outside of business combination that result in a step-up in the tax basis of goodwill. The transition requirements are primarily prospective and the effective date is for interim and annual reporting periods beginning after December 15, 2020, with early adoption permitted. We are currently evaluating the impact of the new guidance on our Condensed Consolidated Financial Statements.

Revenue (Notes)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customers [Abstract]

Revenue from Contract with Customer [Text Block]

NOTE 2. REVENUE

The following table presents our reportable segment revenues, disaggregated by revenue source. We disaggregate revenue from contracts with customers into major product lines. We have determined that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. During the three months ended March 31, 2020, our LP CanExel® prefinished siding was reclassified from Siding to Other, reflecting changes in organizational structure and, accordingly, the information that the chief operating decision maker uses to evaluate performance and allocate resources to our business segments. All prior periods presented have been adjusted for comparability.

As noted in the segment reporting information in Note 19 below, our reportable segments are: Siding, Oriented Strand Board (OSB), Engineered Wood Products (EWP), and South America.



Three Months Ended March 31, 2020
By product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
SmartSide^® Strand siding	$	191	$	—	$	—	$	3	$	—	$	—	$	194
SmartSide^® Fiber siding	19		—		—		—		—		—		19
CanExel^® siding	—		—		—		—		11		—		11
OSB - Structural Solutions	—		103		1		32		—		—		136
LVL	—		—		36		—		—		—		36
LSL	—		—		12		—		—		—		12
I-Joist	—		—		37		—		—		—		37
	210		103		86		35		11		—		445
Commodity
OSB - commodity	—		113		—		—		—		—		113
Plywood	—		—		6		—		—		—		6
	—		113		6		—		—		—		119
Other
Other products	2		4		7		1		7		—		21
	$	212	$	220	$	99	$	36	$	18	$	—	$	585



Three Months Ended March 31, 2019
By product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment			Total
Value-add
SmartSide^® Strand siding	$	187	$	—	$	—	$	6	$	—	$	—		$	193
SmartSide^® Fiber siding	26		—		—		—		—		—			26
CanExel^® siding	—		—		—		—		17		—			17
OSB - Structural Solutions	—		98		2		38		—		—			138
LVL	—		—		31		—		—		—			31
LSL	—		—		13		—		—		(1		)	12
I-Joist	—		—		26		—		—		—			26
	213		98		72		44		17		(1		)	443
Commodity
OSB - commodity	3		107		2		—		—		—			112
Plywood	—		—		7		—		—		—			7
	3		107		9		—		—		—			119

Other
Other products	3		3		9		1		4		—			20
	$	219	$	208	$	90	$	45	$	21	$	(1	)	$	582

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. 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. We recognize revenue as of a point in time.

Our businesses routinely incur customer program costs to obtain favorable product placement, to promote sales of products and to maintain competitive pricing. Customer program costs and incentives, including rebates and promotion and volume allowances, are accounted for as deductions from net sales at the time the program is initiated. These reductions of revenue are recorded at the time of sale or 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 management’s estimates of customer volume achievement and other factors incorporated into customer agreements, such as new product purchases, store sell-through, and merchandising support. 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

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS PER SHARE

Basic earnings per share is based upon 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 (SSARs), 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 (in millions, except per share amounts):



	Three Months Ended March 31,
	2020		2019
Net income attributed to LP
Weighted average common shares outstanding - basic	112		131
Dilutive effect of employee stock plans	1		1
Shares used for diluted earnings per share	113		132
Earnings per share:
Basic earnings	$	0.29	$	0.20
Diluted earnings	$	0.29	$	0.20

Receivables

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Receivables

RECEIVABLES

Receivables consisted of the following:



	March 31, 2020			December 31, 2019
Trade receivables	$	135		$	111
Income tax receivable	19			35
Other receivables	19			19
Allowance for doubtful accounts	(1		)	(1		)
Total	$	172		$	164

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other receivables as of March 31, 2020, and December 31, 2019, primarily consist of sales tax receivables, vendor rebates, a receivable associated with an affiliate, and other miscellaneous receivables.

Inventories

3 Months Ended

Mar. 31, 2020

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 and is included in Semi-finished inventory below):



	March 31, 2020		December 31, 2019
Logs	$	66	$	47
Other raw materials	30		32
Semi-finished inventory	25		26
Finished products	163		160
Total	$	284	$	265

Assets Held For Sale	3 Months Ended
Assets Held For Sale	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Assets Held For Sale	ASSETS HELD FOR SALE In February 2020, the Company entered into a joint agreement with Maibec, Inc. (Maibec) to sell LP’s East River facility located in Nova Scotia, Canada, as well as the assets and brand rights for CanExel®, the fiber-based prefinished siding product manufactured there. The closing of this transaction is subject to customary closing conditions and is expected to occur by December 31, 2020. As a result, the assets and liabilities associated with this business have met the criteria to be classified as held-for-sale in our Condensed Consolidated Balance Sheet as of March 31, 2020. Upon reclassification to held-for-sale in the first quarter of 2020, we recorded a pre-tax impairment charge of $2 million in "Impairment of long-lived assets" on our Condensed Consolidated Statement of Income to reduce the carrying value of this business to fair value less cost to sell. The sale of the East River facility and assets and brand rights for CanExel® did not meet the criteria for classification as discontinued operations. The total carrying value of assets related to the East River facility and CanExel® as of March 31, 2020, was $19 million, including $2 million of trade receivables, net, $12 million of inventories, and $5 million of property, plant, and equipment, net. The total carrying value of total liabilities related to the East River facility and CanExel® as of March 31, 2020, was $2 million, which primarily consisted of accounts payable. Additionally, during the three months ended March 31, 2020, we classified $2 million of assets related to a non-operating facility as held-for-sale.

Goodwill and Other Intangible Assets (Notes)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 8. 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 as of March 31, 2020, are provided in the following table:



	Timber licences¹			Goodwill		Developed Technology		Trademark
Beginning balance December 31, 2019	$	38		$	30	$	20	$	3
Acquisition	—			—		—		—
Amortization	(1		)	—		—		—
Ending balance March 31, 2020	$	37		$	30	$	20	$	3

¹Timber licenses are included in Timber and Timberlands on the Condensed Consolidated Balance Sheets.

Redeemable Noncontrolling Interest (Notes)	3 Months Ended
Redeemable Noncontrolling Interest (Notes)	Mar. 31, 2020
Business Combination, Step Acquisition [Abstract]
Redeemable Noncontrolling Interest	NOTE 9. REDEEMABLE NONCONTROLLING INTEREST Redeemable noncontrolling interest is interest in subsidiaries that is 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 or carrying value at the end of each reporting period. Net income (loss) attributed to noncontrolling interest is recorded in the Consolidated Statements of Income. Any adjustments to the redemption value of redeemable noncontrolling interest are recognized in either net income or through accumulated paid-in capital, depending on the nature of the underlying security (preferred or common units). The balance of the redeemable noncontrolling interest was $10 million as of March 31, 2020, and December 31, 2019.

Long-Term Debt (Notes)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

LONG TERM DEBT

The following table summarizes our outstanding debt:



	March 31, 2020			December 31, 2019
2024 Senior Notes	$	350		$	350
Credit Facility	350			—
Financing leases	1			1
Unamortized debt costs	(3		)	(3		)
Total	698			348
Less: current portion	—			—
Long-term portion	$	698		$	348

In May 2020, we entered an amendment to our Credit Facility. The Credit Facility provides for revolving credit facilities in the aggregate principal amount of up to $550 million, with a $60 million sub-limit for letters of credit. The initial $350 million revolving facility provided pursuant to the Credit Facility (Revolving A Loan) terminates, and all loans made thereunder become due, on June 27, 2024. The incremental $200 million revolving facility provided pursuant to the Credit Facility in May 2020 (Revolving B Loan) terminates, and all loans made thereunder become due, on May 1, 2023. Certain of LP’s existing and future wholly owned domestic subsidiaries may guaranty our obligations under the Credit Facility and, subject to certain limited exceptions, provide security through a lien on substantially all of the personal property of these subsidiaries. In March 2020, we borrowed $350 million under the Credit Facility.

Revolving borrowings under the Credit Facility accrue interest, at our option, at either a “base rate” plus a margin of 0.875% to 2.00% for Revolving A Loans and 1.125% to 2.250% for Revolving B Loans or LIBOR plus a margin of

1.875% to 3.00% for Revolving A Loans and 2.125% to 3.250% for Revolving B Loans. The Credit Facility also includes an unused commitment fee, due quarterly, ranging from 0.3% to 0.6% for both Revolving A Loans and Revolving B Loans. The applicable margins and fees within these ranges are based on our ratio of consolidated EBITDA to cash interest charges. The “base rate” is the highest of (i) the Federal funds rate plus 0.5%, (ii) the U.S. prime rate, and (iii) one-month LIBOR plus 1.0%. As of March 31, 2020, the weighted average interest rate was 2.7%.

The Credit Facility contains various restrictive covenants and customary events of default. The Credit Facility also contains financial covenants that requires us and our consolidated subsidiaries to have, as of the end of each quarter, (i) a capitalization ratio (i.e., funded debt less unrestricted cash to total capitalization) of no more than 57.5% and (ii) a net worth of at least $475 million plus 70% of consolidated net income after December 31, 2019, without a deduction for net losses.

In September 2016, we issued $350 million aggregate principal amount of the 2024 Senior Notes, which mature on September 15, 2024. We may, at our option on one or more occasions, redeem all or any portion of these notes at the redemption prices set forth in the indenture governing the 2024 Senior Notes, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. The indenture governing the 2024 Senior Notes contains certain covenants that, among other things, limit our ability to grant liens to secure indebtedness, engage in sale and leaseback transactions and merge or consolidate or sell all or substantially all of our assets. If we are subject to a "change of control," as defined in the indenture, we are required to offer to repurchase the 2024 Senior notes at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, thereon to, but not including, the date of purchase. The indenture governing the 2024 Senior Notes contains customary events of default, including failure to make required payments on the 2024 Senior Notes, failure to comply with certain agreements or covenants contained in the indenture, failure to pay or acceleration of certain other indebtedness and certain events of bankruptcy and insolvency. An event of default in the indenture allows either the indenture trustee or the holders of at least 25% in aggregate principal amount of the then-outstanding 2024 Senior Notes to accelerate, or in certain cases, automatically causes the acceleration of, the amounts due under the 2024 Senior Notes.

As of March 31, 2020, we were in compliance with all financial covenants under the Credit Facility and 2024 Senior Notes.

On March 17, 2020, LP entered into a letter of credit facility agreement (Letter of Credit Facility) with Bank of America, N.A., which provides for the funding of letters of credit up to an aggregate outstanding amount of $20.0 million, which may be secured by certain cash collateral of LP. The Letter of Credit Facility includes an unused commitment fee, due quarterly, ranging from 0.50% to 1.875% of the daily available amount to be drawn on each letter of credit issued under the Letter of Credit Facility. The Letter of Credit Facility is subject to similar affirmative, negative and financial covenants as those set forth in the Credit Facility, including capitalization ratio and minimum net worth covenants.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2020
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. The tax provision for income taxes for the three months ended March 31, 2020 and 2019, reflected an estimated annual effective tax rate of 26%, excluding discrete items discussed below. The total effective tax rate for the three months ended March 31, 2020 and 2019, including discrete items, was 22% and 21%, respectively. We recorded a net discrete tax benefit of $2 million during the first three months of 2020 and 2019. In both periods, the discrete benefits related primarily to excess tax benefits from stock-based compensation. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted into law and provides for changes to the U.S. tax code that impact businesses. Some of the key income tax changes that could have an impact on LP include relaxation of the interest deduction limitation rules, the expansion of the Net Operating Loss utilization rules, and the eligibility of Qualified Improvement Property for bonus depreciation. As of March 31, 2020, we have made a reasonable estimate of the effects on our current and deferred tax balances, if any. As further guidance is released and the implications are better understood, we will adjust this estimate as necessary.

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement [Text Block]	STOCK-BASED COMPENSATION We have stock award plans covering certain key employees and directors, which provide for awards of stock options, SSARs, restricted stock units, and performance stock units. In addition, we offer an Employee Stock Purchase Plan to employees. The fair value of our restricted stock, restricted stock units, and performance stock units is the closing stock price of the Company’s common stock the day preceding the grant date. During the first three months of 2020, we granted 239,617 and 250,178 of performance and restricted stock units, respectively, at an average grant date fair value of $31.75 per share. We recognized $2 million in stock-based compensation expense for the three months ended March 31, 2020 and 2019, respectively. At March 31, 2020, there was $18 million of unrecognized compensation expense related to unvested performance stock units, restricted stock units, and SSARs attributable to future service that had not yet been recognized.

Commiments and Contingencies

3 Months Ended

Mar. 31, 2020

Legal and Environmental Matters [Abstract]

Commiments and Contingencies

We maintain reserves for various contingent liabilities as follows:



	March 31, 2020			December 31, 2019
Environmental reserves	$	9		$	10
Other reserves	—			—
Total contingencies	9			10
Current portion (included in other current liabilities)	(2		)	(2		)
Long-term portion (included in other long-term liabilities)	$	7		$	8

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 considering 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. However, no estimate of the range of any such change can be made at this time.

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.

Impairments of Long-Lived Assets	3 Months Ended
Impairments of Long-Lived Assets	Mar. 31, 2020
Asset Impairment Charges [Abstract]
Impairments of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS We continue to review the carrying values of our long-lived assets for potential impairments and believe we have adequate support for the carrying value of our long-lived assets. If demand and pricing for our products continue at levels significantly below cycle average demand and pricing, or 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, 2020, we believe the current impacts of the COVID-19 pandemic did not warrant an impairment of our goodwill, intangibles, or long-lived assets. However, the long-term effects of the COVID-19 pandemic on the demand and pricing of our products may result in future impairment charges, including curtailed facilities. We also review from time to time potential dispositions of various assets in light of current and anticipated economic and industry conditions, our strategic plan, and other relevant factors. 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. During the three months ended March 31, 2020, we recorded $5 million in pre-tax impairment charges related to our fiber producing assets at a Siding facility. These impairment charges reflect the announced, accelerated conversion of this facility from fiber production to pre-finishing in February 2020. Additionally, we recorded $2 million in pre-tax impairment charges related to the reclassification of our East River facility as held-for-sale during the three months ended March 31, 2020.

Product Warranty

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Guarantees and Indemnifications

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, 2020 and 2019, is summarized in the following table:



	Three Months Ended March 31,
	2020			2019
Beginning balance	$	8		$	14
Accrued to expense	1			—
Payments made	(1		)	(1		)
Total warranty reserves	8			13
Current portion of warranty reserves (included in other current liabilities)	(2		)	(3		)
Long-term portion of warranty reserves (included in other long-term liabilities)	$	6		$	10

We continue to monitor warranty and other claims associated with these products and believe as of March 31, 2020, that the warranty reserve balances associated with these matters are adequate to cover future warranty payments. However, it is possible that additional changes may be required in the future.

Defined Benefit Pension Plans

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Compensation and Employee Benefit Plans

DEFINED BENEFIT PENSION PLANSThe following table summarizes our net periodic pension cost for our defined benefit pension and postretirement plans during the three months ended March 31, 2020 and 2019:



	Three Months Ended March 31,
	2020			2019
Service cost	$	1		$	1
Other components of net periodic pension cost¹:
Interest cost	3			4
Expected return on plan assets	(4		)	(4		)
Amortization of prior service cost	—			—
Amortization of net loss	1			1
Net periodic pension cost	$	1		$	2

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

Other Comprehensive Income Other Comprehensive Income

3 Months Ended

Mar. 31, 2020

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

Comprehensive Income (Loss) Note [Text Block]

ACCUMULATED COMPREHENSIVE INCOME (LOSS)

Other comprehensive income activity, net of tax, is provided in the following table for the three months ended March 31, 2020 and 2019:



	Three Months Ended
	March 31,
	2020			2019
Pension¹
Balance at beginning of period	$	(89	)	$	(93	)
Amounts reclassified from accumulated other comprehensive loss to income ²	1			1
Total other comprehensive income	1			1
Balance at end of period	(88		)	(92		)
Translation Adjustments
Balance at beginning of period	(67		)	(57		)
Translation adjustments	(23		)	2
Balance at end of period	(90		)	(55		)
Other
Balance at beginning of period	3			4
Other comprehensive loss before reclassifications	—			(1		)
Total other comprehensive loss	—			(1		)
Balance at end of period	3			3
Accumulated other comprehensive loss, end of period	$	(175	)	$	(144	)

¹ Amounts are presented net of tax

²Amounts of actuarial loss and prior service cost are components of net periodic benefit cost.

Other Operating and Non-Operating Income (Notes)

3 Months Ended

Mar. 31, 2020

Nonoperating Income (Expense) [Abstract]

Other Operating and Non-Operating Income

OTHER OPERATING AND NON-OPERATING INCOME

Other operating credit and charges, net

During the first three months ended March 31, 2020 and 2019, we recorded a charge of $2 million on severance and other charges related to certain reorganizations within the corporate offices.

Non-operating income

Non-operating income is comprised of the following components:



	Three Months Ended
	March 31,
	2020			2019
Interest income	$	—		$	4
SERP market adjustments	(1		)	1
Interest expense	(6		)	(5		)
Amortization of debt charges	—			—
Capitalized interest, net of reversals	—			1
Interest expense, net	(7		)	1

Net periodic pension cost, excluding service cost	(1		)	(1		)
Gain on acquisition of controlling interest	—			14
Foreign currency gain (loss)	6			(2		)
Other non-operating items	5			11

Selected Segment Data

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Selected Segment Data

SELECTED SEGMENT DATA

We operate in four segments: Siding, OSB, 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. During the three months ended March 31, 2020, our LP CanExel® prefinished siding was reclassified from Siding to Other, reflecting changes in organizational structure and, accordingly, the information that the chief operating decision maker uses to evaluate performances and allocate resources to the segments. All prior periods presented have been adjusted for comparability.

We evaluate the performance of our business segments based on net sales and Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on net sales and Adjusted EBITDA for our business segments. Adjusted EBITDA is a non-GAAP financial measure and is defined as income attributed to LP before interest expense, net, provision for income taxes, depreciation and amortization, and excludes stock-based compensation expense, impairment of long-lived assets, other operating credits and charges, net, and other non-operating items.

Information about our product segments is as follows:



	Three Months Ended
	March 31,
	2020			2019
Net sales
Siding	$	212		$	219
OSB	220			208
EWP	99			90
South America	36			45
Other	18			21
Intersegment sales	—			(1		)
Total sales	$	585		$	582
PROFIT BY SEGMENT
Net income	$	33		$	26
Add (deduct):
Net loss attributed to noncontrolling interest	—			1
Income attributed to LP	33			27
Provision for income taxes	9			7
Depreciation and amortization	28			31
Stock-based compensation expense	2			2
Impairment of long-lived assets	7			1
Other operating credits and charges, net	2			2
Interest expense, net	7			(1		)
Other non-operating items	(5		)	(11		)
Adjusted EBITDA	$	83		$	58
Siding	42			39
OSB	35			8
EWP	9			7
South America	7			10
Other	(3		)	1
Corporate	(7		)	(7		)
Adjusted EBITDA	83			58

Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]



Three Months Ended March 31, 2020
By product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
SmartSide^® Strand siding	$	191	$	—	$	—	$	3	$	—	$	—	$	194
SmartSide^® Fiber siding	19		—		—		—		—		—		19
CanExel^® siding	—		—		—		—		11		—		11
OSB - Structural Solutions	—		103		1		32		—		—		136
LVL	—		—		36		—		—		—		36
LSL	—		—		12		—		—		—		12
I-Joist	—		—		37		—		—		—		37
	210		103		86		35		11		—		445
Commodity
OSB - commodity	—		113		—		—		—		—		113
Plywood	—		—		6		—		—		—		6
	—		113		6		—		—		—		119
Other
Other products	2		4		7		1		7		—		21
	$	212	$	220	$	99	$	36	$	18	$	—	$	585



Three Months Ended March 31, 2019
By product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment			Total
Value-add
SmartSide^® Strand siding	$	187	$	—	$	—	$	6	$	—	$	—		$	193
SmartSide^® Fiber siding	26		—		—		—		—		—			26
CanExel^® siding	—		—		—		—		17		—			17
OSB - Structural Solutions	—		98		2		38		—		—			138
LVL	—		—		31		—		—		—			31
LSL	—		—		13		—		—		(1		)	12
I-Joist	—		—		26		—		—		—			26
	213		98		72		44		17		(1		)	443
Commodity
OSB - commodity	3		107		2		—		—		—			112
Plywood	—		—		7		—		—		—			7
	3		107		9		—		—		—			119

Other
Other products	3		3		9		1		4		—			20
	$	219	$	208	$	90	$	45	$	21	$	(1	)	$	582

Earnings per Share (Tables) (Tables)

3 Months Ended

Mar. 31, 2020

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 (in millions, except per share amounts):



	Three Months Ended March 31,
	2020		2019
Net income attributed to LP
Weighted average common shares outstanding - basic	112		131
Dilutive effect of employee stock plans	1		1
Shares used for diluted earnings per share	113		132
Earnings per share:
Basic earnings	$	0.29	$	0.20
Diluted earnings	$	0.29	$	0.20

Receivables (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

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

Receivables consisted of the following:



	March 31, 2020			December 31, 2019
Trade receivables	$	135		$	111
Income tax receivable	19			35
Other receivables	19			19
Allowance for doubtful accounts	(1		)	(1		)
Total	$	172		$	164

Inventories (Tables)

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

The major types of inventories are as follows (work in process is not material and is included in Semi-finished inventory below):



	March 31, 2020		December 31, 2019
Logs	$	66	$	47
Other raw materials	30		32
Semi-finished inventory	25		26
Finished products	163		160
Total	$	284	$	265

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill [Line Items]

Schedule of Intangible Assets and Goodwill [Table Text Block]

Changes in goodwill and other intangible assets as of March 31, 2020, are provided in the following table:



	Timber licences¹			Goodwill		Developed Technology		Trademark
Beginning balance December 31, 2019	$	38		$	30	$	20	$	3
Acquisition	—			—		—		—
Amortization	(1		)	—		—		—
Ending balance March 31, 2020	$	37		$	30	$	20	$	3

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

The following table summarizes our outstanding debt:



	March 31, 2020			December 31, 2019
2024 Senior Notes	$	350		$	350
Credit Facility	350			—
Financing leases	1			1
Unamortized debt costs	(3		)	(3		)
Total	698			348
Less: current portion	—			—
Long-term portion	$	698		$	348

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Commiments and Contingencies Commiments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Legal and Environmental Matters [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

We maintain reserves for various contingent liabilities as follows:



	March 31, 2020			December 31, 2019
Environmental reserves	$	9		$	10
Other reserves	—			—
Total contingencies	9			10
Current portion (included in other current liabilities)	(2		)	(2		)
Long-term portion (included in other long-term liabilities)	$	7		$	8

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

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+ Details

Product Warranty (Tables)

3 Months Ended

Mar. 31, 2020

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, 2020 and 2019, is summarized in the following table:



	Three Months Ended March 31,
	2020			2019
Beginning balance	$	8		$	14
Accrued to expense	1			—
Payments made	(1		)	(1		)
Total warranty reserves	8			13
Current portion of warranty reserves (included in other current liabilities)	(2		)	(3		)
Long-term portion of warranty reserves (included in other long-term liabilities)	$	6		$	10

Defined Benefit Pension Plans (Tables)

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

e following table summarizes our net periodic pension cost for our defined benefit pension and postretirement plans during the three months ended March 31, 2020 and 2019:



	Three Months Ended March 31,
	2020			2019
Service cost	$	1		$	1
Other components of net periodic pension cost¹:
Interest cost	3			4
Expected return on plan assets	(4		)	(4		)
Amortization of prior service cost	—			—
Amortization of net loss	1			1
Net periodic pension cost	$	1		$	2

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

Other Comprehensive Income Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2020

Accumulated Other Comprehensive Income (Loss) [Line Items]

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

Other comprehensive income activity, net of tax, is provided in the following table for the three months ended March 31, 2020 and 2019:



	Three Months Ended
	March 31,
	2020			2019
Pension¹
Balance at beginning of period	$	(89	)	$	(93	)
Amounts reclassified from accumulated other comprehensive loss to income ²	1			1
Total other comprehensive income	1			1
Balance at end of period	(88		)	(92		)
Translation Adjustments
Balance at beginning of period	(67		)	(57		)
Translation adjustments	(23		)	2
Balance at end of period	(90		)	(55		)
Other
Balance at beginning of period	3			4
Other comprehensive loss before reclassifications	—			(1		)
Total other comprehensive loss	—			(1		)
Balance at end of period	3			3
Accumulated other comprehensive loss, end of period	$	(175	)	$	(144	)

¹ Amounts are presented net of tax

²Amounts of actuarial loss and prior service cost are components of net periodic benefit cost.

Other Operating and Non-Operating Income (Tables)

3 Months Ended

Mar. 31, 2020

Nonoperating Income (Expense) [Abstract]

Schedule of Other Operating Cost and Expense, by Component [Table Text Block]

Non-operating income is comprised of the following components:



	Three Months Ended
	March 31,
	2020			2019
Interest income	$	—		$	4
SERP market adjustments	(1		)	1
Interest expense	(6		)	(5		)
Amortization of debt charges	—			—
Capitalized interest, net of reversals	—			1
Interest expense, net	(7		)	1

Net periodic pension cost, excluding service cost	(1		)	(1		)
Gain on acquisition of controlling interest	—			14
Foreign currency gain (loss)	6			(2		)
Other non-operating items	5			11

Selected Segment Data (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

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



	Three Months Ended
	March 31,
	2020			2019
Net sales
Siding	$	212		$	219
OSB	220			208
EWP	99			90
South America	36			45
Other	18			21
Intersegment sales	—			(1		)
Total sales	$	585		$	582
PROFIT BY SEGMENT
Net income	$	33		$	26
Add (deduct):
Net loss attributed to noncontrolling interest	—			1
Income attributed to LP	33			27
Provision for income taxes	9			7
Depreciation and amortization	28			31
Stock-based compensation expense	2			2
Impairment of long-lived assets	7			1
Other operating credits and charges, net	2			2
Interest expense, net	7			(1		)
Other non-operating items	(5		)	(11		)
Adjusted EBITDA	$	83		$	58
Siding	42			39
OSB	35			8
EWP	9			7
South America	7			10
Other	(3		)	1
Corporate	(7		)	(7		)
Adjusted EBITDA	83			58

Basis For Presentation (Details) - USD ($) $ in Millions	3 Months Ended
Basis For Presentation (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	May 01, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Borrowings under revolving credit facility	$ 350	$ 0
Cash and cash equivalents	$ 488			$ 181
Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 200

Earnings per Share (Details) - $ / shares	3 Months Ended
Earnings per Share (Details) - $ / shares	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares outstanding - basic	112,000,000	131,000,000
Dilutive effect of employee stock plans	1,000,000	1,000,000
Shares used for diluted earnings per share	113,000,000	132,000,000
Net income per share - basic	$ 0.29	$ 0.20
Net income per share - diluted	$ 0.29	$ 0.20

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	$ 4	$ 5
Trading Securities, Equity	4
Senior unsecured notes, maturing 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	310
Credit Facility maturing 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 350

Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Trade receivables	$ 135.0	$ 111.0
Income tax receivable	19.0	35.0
Other receivables	19.0	19.0
Allowance for doubtful accounts	(1.0)	(1.0)
Total	$ 172.0	$ 164.0

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Logs	$ 66.0	$ 47.0
Other raw materials	30.0	32.0
Semi-finished inventory	25.0	26.0
Finished products	163.0	160.0
Total	$ 284.0	$ 265.0

Assets Held For Sale (Details) - USD ($) $ in Millions	3 Months Ended
Assets Held For Sale (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 7	$ 1
East River Facility And CanExel [Member] \| Disposal Group, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of Long-Lived Assets Held-for-use	2
Disposal Group, Including Discontinued Operation, Assets	19
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	2
Disposal Group, Including Discontinued Operation, Inventory, Current	12
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	5
Disposal Group, Including Discontinued Operation, Liabilities	2
Non-Operating Facility [Member] \| Disposal Group, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Assets	$ 2

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill additions	$ 0.0
Goodwill and other intangible assets	30.0	$ 30.0
Productive Land [Member]
Goodwill [Line Items]
Timber and Timberlands	37.0	38.0
Additions to Timberlands	0.0
Amortization of Intangible Assets	(1.0)
Developed Technology Rights [Member]
Goodwill [Line Items]
Amortization of Intangible Assets	0.0
Additions to finite-lived Intangible Assets	0.0
Finite-Lived Intangible Assets, Net	20.0	20.0
Other Intangible Assets [Member]
Goodwill [Line Items]
Amortization of Intangible Assets	0.0
Additions to finite-lived Intangible Assets	0.0
Finite-Lived Intangible Assets, Net	$ 3.0	$ 3.0

Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Business Combination, Step Acquisition [Abstract]
Redeemable noncontrolling interest	$ 10.0	$ 10.0

Long-Term Debt - Summary of Debt Outstanding (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Financing leases	$ 1	$ 1
Unamortized debt costs	(3)	(3)
Total	698	348
Less: current portion	0	0
Long-term portion	698	348
Senior Notes [Member] \| Senior unsecured notes, maturing 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	350	350
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 350	$ 0

Long-Term Debt - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended
	May 01, 2020	Sep. 30, 2016	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Line of Credit Capacity, Sublimit for Letters of Credit					$ 60
Proceeds from Issuance of Long-term Debt			$ 350	$ 0
Base Rate [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			0.50%
Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			0.875%
Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			2.00%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			1.00%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			1.875%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			3.00%
Other Commitments [Domain] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			0.30%
Other Commitments [Domain] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period			0.60%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 350		0
Line of Credit Facility, Interest Rate at Period End			2.70%
Senior Notes [Member] \| Senior unsecured notes, maturing 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 350		$ 350
Debt Instrument, Change In Control, Repurchase Price Percentage		101.00%
Holders Of Aggregate Principal Amount Required To Accelerate Amounts Due, Percent		25.00%
Subsequent Event [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Amended Credit Facility [Member]
Debt Instrument [Line Items]
Capitalization Ratio, Maximum	57.50%
Debt Covenant, Consolidated Net Worth	$ 475
Debt Covenant, Consolidated Net Worth, Add On For Consolidated Net Income After Deductions, Percent	70.00%
Line of Credit Facility, Maximum Borrowing Capacity	$ 200
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Amended Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	1.125%
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Amended Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	2.25%
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Amended Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	2.125%
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Amended Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	3.25%

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Percent	22.00%	21.00%
Other Tax Expense (Benefit)	$ 2	$ 2
Forecast [Member]
Effective Income Tax Rate Reconciliation, Percent			26.00%

Stock-Based Compensation Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense associated with stock-based compensation	$ 2.0	$ 2.0
Compensation cost related to unvested awards, not yet recognized	$ 18.0
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted in period	239,617
Weighted Average Grant Date Fair Value, Other than options	$ 31.75
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted in period	250,178
Additional Paid-in Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense associated with stock-based compensation	$ 2.0	$ 2.0

Commiments and Contingencies Commiments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Total contingencies	$ 9	$ 10
Current portion (included in other current liabilities)	(2)	(2)
Long-term portion (included in other long-term liabilities)	7	8
Environmental reserves
Loss Contingencies [Line Items]
Total contingencies	9	10
Other reserves
Loss Contingencies [Line Items]
Total contingencies	$ 0	$ 0

Impairments of Long-Lived Assets Impairments of Long-Lived Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 5
Impairment of Long-Lived Assets Held-for-use	7	$ 1
Disposal Group, Not Discontinued Operations [Member] \| East River Facility And CanExel [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of Long-Lived Assets Held-for-use	$ 2

Product Warranty (Details) - USD ($) $ in Millions	3 Months Ended
Product Warranty (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 8.0	$ 14.0
Accrued to expense	1.0	0.0
Payments made	(1.0)	(1.0)
Total warranty reserves	8.0	13.0
Current portion of warranty reserves	(2.0)	(3.0)
Long-term portion of warranty reserves	$ 6.0	$ 10.0

Defined Benefit Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 1.0	$ 1.0
Interest cost	3.0	4.0
Expected return on plan assets	(4.0)	(4.0)
Amortization of Prior Service Cost	0.0	0.0
Amortization of net loss	1.0	1.0
Net periodic pension cost	$ 1.0	$ 2.0

Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Beginning Balance	$ (153.0)
Ending Balance	(175.0)	$ (144.0)
Foreign currency translation adjustments
Beginning Balance	(67.0)	(57.0)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(23.0)	2.0
Ending Balance	(90.0)	(55.0)
Amortization of pension and post-retirement prior service costs and net loss
Beginning Balance	(89.0)	(93.0)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1.0	1.0
Ending Balance	(88.0)	(92.0)
Unrealized gain (loss) on investments
Beginning Balance	3.0	4.0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0.0	(1.0)
Ending Balance	3.0	3.0
AOCI Attributable to Parent [Member]
Beginning Balance	(153.0)	(146.0)
Ending Balance	$ (175.0)	$ (144.0)

Other Operating and Non-Operating Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Nonoperating Income (Expense) [Abstract]
Reorganization charges	$ (2.0)
Interest income	0.0	$ 4.0
SERP market adjustments	(1.0)	1.0
Interest expense	(6.0)	(5.0)
Amortization of debt charges	0.0	0.0
Interest Costs Capitalized Adjustment	0.0	(1.0)
Interest expense, net	(7.0)	1.0
Net periodic pension cost, excluding service cost	(1.0)	(1.0)
Gain on acquisition of controlling interest	0.0	14.0
Foreign currency gain (loss)	6.0	(2.0)
Total non-operating income (expense)	$ 5.0	$ 11.0

Selected Segment Data (Details) - USD ($) $ in Millions	3 Months Ended
Selected Segment Data (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 585.0	$ 582.0
Operating profit (loss):	44.0	22.0
Provision for income taxes	9.0	7.0
Depreciation and amortization	28.0	31.0
Stock-based compensation expense	(2.0)	(2.0)
Impairment of Long-Lived Assets Held-for-use	7.0	1.0
Other operating credits and charges, net	2.0	2.0
Interest expense, net	7.0	(1.0)
Other non-operating items	(5.0)	(11.0)
Income from continuing operations attributed to LP	83.0	58.0
Siding [Member]
Segment Reporting Information [Line Items]
Net sales	212.0	219.0
Operating profit (loss):	33.0	26.0
Income from continuing operations attributed to LP	42.0	39.0
OSB [Member]
Segment Reporting Information [Line Items]
Net sales	220.0	208.0
Operating profit (loss):
Income from continuing operations attributed to LP	35.0	8.0
EWP [Member]
Segment Reporting Information [Line Items]
Net sales	99.0	90.0
Operating profit (loss):	0.0	1.0
Income from continuing operations attributed to LP	9.0	7.0
South America [Member]
Segment Reporting Information [Line Items]
Net sales	36.0	45.0
Income from continuing operations attributed to LP	7.0	10.0
Other [Member]
Segment Reporting Information [Line Items]
Net sales	18.0	21.0
Operating profit (loss):	33.0	27.0
Income from continuing operations attributed to LP	(3.0)	1.0
Intersegment [Member]
Segment Reporting Information [Line Items]
Net sales	0.0	(1.0)
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Income from continuing operations attributed to LP	$ (7.0)	$ (7.0)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 585.0	$ 582.0
Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	212.0	219.0
OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	220.0	208.0
EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	99.0	90.0
South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	36.0	45.0
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	18.0	21.0
Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	(1.0)
SmartSide Strand siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	194.0	193.0
SmartSide Strand siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	191.0	187.0
SmartSide Strand siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Strand siding [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Strand siding [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	3.0	6.0
SmartSide Strand siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Strand siding [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Fiber siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	19.0	26.0
SmartSide Fiber siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	19.0	26.0
SmartSide Fiber siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Fiber siding [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Fiber siding [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Fiber siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
SmartSide Fiber siding [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
CanExel siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	11.0	17.0
CanExel siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
CanExel siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
CanExel siding [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
CanExel siding [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
CanExel siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	11.0	17.0
CanExel siding [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
OSB - value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	136.0	138.0
OSB - value-add [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
OSB - value-add [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	103.0	98.0
OSB - value-add [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	1.0	2.0
OSB - value-add [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	32.0	38.0
OSB - value-add [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
OSB - value-add [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LVL [Member]
Disaggregation of Revenue [Line Items]
Net sales	36.0	31.0
LVL [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LVL [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LVL [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	36.0	31.0
LVL [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LVL [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LVL [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LSL [Member]
Disaggregation of Revenue [Line Items]
Net sales	12.0	12.0
LSL [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LSL [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LSL [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	12.0	13.0
LSL [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LSL [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
LSL [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	(1.0)
I Joist [Member]
Disaggregation of Revenue [Line Items]
Net sales	37.0	26.0
I Joist [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
I Joist [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
I Joist [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	37.0	26.0
I Joist [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
I Joist [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
I Joist [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
OSB - commodity [Member]
Disaggregation of Revenue [Line Items]
Net sales	113.0	112.0
OSB - commodity [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	3.0
OSB - commodity [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	113.0	107.0
OSB - commodity [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	2.0
OSB - commodity [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
OSB - commodity [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
OSB - commodity [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Plywood [Member]
Disaggregation of Revenue [Line Items]
Net sales	6.0	7.0
Plywood [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Plywood [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Plywood [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	6.0	7.0
Plywood [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Plywood [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Plywood [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	21.0
Other [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	2.0
Other [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	4.0
Other [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	7.0
Other [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	1.0
Other [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	7.0
Other [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0
Commodity [Member]
Disaggregation of Revenue [Line Items]
Net sales	119.0	119.0
Commodity [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	3.0
Commodity [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	113.0	107.0
Commodity [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	6.0	9.0
Commodity [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Commodity [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Commodity [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0
Value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	445.0	443.0
Value-add [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	210.0	213.0
Value-add [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	103.0	98.0
Value-add [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales	86.0	72.0
Value-add [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales	35.0	44.0
Value-add [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	11.0	17.0
Value-add [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 0.0	(1.0)
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales		20.0
Other [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales		3.0
Other [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales		3.0
Other [Member] \| EWP [Member]
Disaggregation of Revenue [Line Items]
Net sales		9.0
Other [Member] \| South America [Member]
Disaggregation of Revenue [Line Items]
Net sales		1.0
Other [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales		4.0
Other [Member] \| Intersegment [Member]
Disaggregation of Revenue [Line Items]
Net sales		$ 0.0