0001628280-24-004714 | 10-K | XBRL Viewer

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Income Taxes Income Statement table (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 207	$ 961	$ 1,491
Foreign	45	198	212
Income (loss) from continuing operations before income taxes, extraordinary items, noncontrolling interest	$ 252	$ 1,159	$ 1,704

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Nature of Operations [Policy Text Block]

Nature of Operations

Louisiana-Pacific Corporation and our subsidiaries are a leading provider of high-performance building solutions that meet the demands of builders, remodelers, and homeowners worldwide. Serving the new home construction, repair and remodeling, and outdoor structures markets, we have leveraged our expertise to become an industry leader known for innovation, quality, reliability, and sustainability. The principal customers for our building solutions are retailers, wholesalers, and home building and industrial businesses in North America and South America, and we make limited sales to customers in Asia, Australia, and Europe. The Company operates 23 plants across the U.S., Canada, Chile, and Brazil, in certain cases, through foreign subsidiaries, and operates additional facilities through a joint venture. References to "LP," the "Company," "we," "our," and "us" refer to Louisiana-Pacific Corporation and its consolidated subsidiaries as a whole.

In May 2023, we acquired an idle manufacturing facility in Wawa, Ontario, Canada from a third party for $80 million. We anticipate converting the Wawa manufacturing facility into an LP SmartSide Trim & Siding mill in the future according to the needs of our business. We are evaluating project schedules and market demand to determine when we will begin related construction work.

See "Note 18 - Segment Information" below for further information regarding our products and segments.

Consolidation, Policy [Policy Text Block]

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.

The Consolidated Financial Statements include the accounts of LP and our controlled subsidiaries. All intercompany transactions, profits, and balances have been eliminated. All dollar amounts are in millions except per share.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and short-term investments of three months or less when purchased. These investments are stated at cost, which approximates market value.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We are required to classify these financial assets and liabilities into two groups: (1) recurring, measured on a periodic basis, and (2) non-recurring, measured on an as-needed basis.

There are three levels of inputs that may be used to measure fair value:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable or can be corroborated by observable market data.

Level 3 Valuations based on models where significant inputs are not observable. Unobservable inputs are used when little or no market data is available and reflect the Company’s own assumptions about the assumptions market participants would use.

The Company's financial instruments consist of cash and cash equivalents, short-term receivables, trade payables, debt instruments, and trading securities. Carrying amounts reported on the balance sheet for cash and cash equivalents, receivables, and accounts payable approximate fair value due to the short-term maturity of these instruments. See "Note 10 - Long Term Debt" below for further information regarding the fair value of long-term debt instruments.

Trading securities consist of rabbi trust financial assets, which are recorded in other assets in our Consolidated Balance Sheets. The rabbi trust holds assets attributable to the elections of certain management employees to defer the receipt of a portion of their compensation. The assets of the rabbi trust are invested in mutual funds and are reported at fair value based on active market quotations, which represent Level 1 inputs.

Inventory, Policy [Policy Text Block]

Inventories

Timber and Timberlands [Policy Text Block]

Timber and Timberlands

Timber and timberlands are comprised of timber deeds and allocations of the purchase price to Canadian timber harvesting licenses. Timber deeds are transactions in which we purchase timber but not the underlying land. The cost of timber deeds is capitalized in timber and timberlands and charged to the cost of timber harvested as the volume is removed. Timber that has been severed but has not yet been delivered to a facility is included in timber and timberlands. As of December 31, 2023, and 2022, we had timber and timberlands of $7 million and $12 million, respectively.

Timber licenses have a life of 20 to 25 years. These licenses are amortized on a straight-line basis over the life of the facilities. As of December 31, 2023 and 2022, we had timber licenses of $25 million and $28 million, respectively. Certain Canadian timber harvesting licenses also include future requirements for reforestation. The fair value of the future estimated reforestation obligation is accrued and recognized in Cost of sales based on the volume of timber harvested; fair value is determined by discounting the estimated future cash flows using a credit adjusted risk-free rate. Subsequent changes to the fair value resulting from the passage of time and revisions to fair value calculations are recognized in earnings as they occur.

Property, Plant and Equipment, Policy [Policy Text Block]

Property, Plant, and Equipment

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):


	December 31,
	2023		2022
Land, land improvements, and logging roads, net of road amortization	$	212	$	193
Buildings	493		428
Machinery and equipment	2,352		2,124
Construction in progress	236		253
	3,293		2,998
Accumulated depreciation	(1,753)		(1,672)
Property, plant, and equipment, net	$	1,540	$	1,326

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, which typically range from 5 to 20 years for buildings and land improvements, 3 to 15 years for equipment, and the shorter of the lease term or estimated useful lives for leasehold improvements.

Asset Impairment, Policy [Policy Text Block]

Long-lived assets to be held and used (primarily property, plant, and equipment and timber and timberlands) are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When impairment is indicated, the book values of the assets are written down to their estimated fair value as calculated by the expected discounted cash flow or estimated net sales price. See "Note 13 - Impairment of Long-Lived Assets" below for a discussion of charges related to impairments of property, plant, and equipment.

Long-lived assets that are held for sale are written down to the estimated sales proceeds less cost to sell unless the estimated net proceeds exceed the carrying value.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill and Intangible Assets

Goodwill and indefinite-lived intangible assets are assessed annually for impairment during the fourth quarter or earlier upon the occurrence of certain events or substantive changes in circumstances. In accordance with Accounting Standards Codification (ASC) 350, Intangibles – Goodwill and Other, companies may opt to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A qualitative assessment includes factors such as financial performance, industry and market metrics, and other factors affecting the reporting unit. If this assessment concludes that it is more likely than not that the fair value of a reporting unit exceeds its carrying value, then goodwill is not considered impaired, and no further impairment testing is required. Conversely, if the qualitative assessment concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we must then compare the fair value of the reporting unit to its carrying value. Impairment is evaluated by applying a fair value-based test. Impairment losses would be recognized when the implied fair value of goodwill is less than its carrying value.

In 2023, we announced the shutdown of our off-site framing operation Entekra Holdings LLC (Entekra), resulting in impairment charges of $9 million related to definite-lived intangible assets. During the year ended December 31, 2021, we recognized non-cash impairment charges of $5 million, associated with the remaining goodwill from the purchase of Entekra. See "Note 5 - Goodwill and Other Intangible Assets" below for further discussion.

Investments in Affiliates

We account for investments in affiliates when we do not have a controlling financial interest using the equity method under which LP’s share of earnings and losses of the affiliate is reflected in earnings, and dividends are credited against the investment in the affiliate when declared.

Restricted Cash, Policy [Policy Text Block]

Restricted Cash

Our restricted cash accounts generally secure outstanding letters of credit. The restricted cash balance at December 31, 2022 was $14 million. There were no restricted cash balances as of December 31, 2023.

Asset Retirement Obligation [Policy Text Block]

Asset Retirement Obligations

We record the fair value of the legal and conditional obligations to retire and remove long-lived assets in the periods in which the obligations are incurred. These obligations primarily consist of monitoring costs on closed landfills, timber reforestation obligations associated with our timber licenses in Canada, and site restoration costs. When the related liability is initially recorded, we capitalize the cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its settlement value, and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, we recognize a gain or loss for any difference between the settlement amount and the liability recorded. The activity in our asset retirement obligation liability for 2023 and 2022 is summarized in the following table (dollars in millions).


	Year Ended December 31,
	2023		2022
Beginning balance	$	8	$	8
Accretion expense	—		—
Adjusted to expense (cost of sales and other operating credits and charges, net)	—		(1)
Payments made	—		—
Ending balance	$	8	$	8

Income Taxes, Policy [Policy Text Block]

Income Taxes

We account for income taxes under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our Consolidated Financial Statements or tax returns. In estimating future tax consequences, we generally consider all expected future events other than the enactment of changes in tax laws or rates. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized as income or expense in the period that includes the enactment date. Additionally, deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized.

We recognize the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

We classify interest related to income tax liabilities or uncertain tax positions as interest expense or interest income and, if applicable, penalties are recognized as a component of income tax expense.

We are subject to global intangible low-taxed income, an incremental tax on foreign income. We have made an accounting election to record this tax in the period the tax arises.

Stock-based Compensation Policy [Policy Text Block]

Stock-Based Compensation

We have stock award plans covering certain key employees and directors, which provide for awards of restricted stock units, performance stock units, stock-settled stock appreciation rights (SSARS), and stock options. In addition, we offer an Employee Stock Purchase Plan (ESPP) to employees.

The fair value of our restricted stock and restricted stock units is the closing stock price of LP’s common stock the day preceding the grant date. The fair value of our performance stock units is estimated using the Monte Carlo simulation pricing model. The key assumptions used in this model include expected volatility, risk-free rate, and average and grant date stock prices. The estimate of expected volatility for performance stock units is based upon historical stock price volatility and the length of the performance period. The risk-free interest rate is based on zero-coupon U.S. Treasury bonds. The beginning average stock price equals the average closing value stock price over the defined period of trading days with the assumption that dividends distributed during the period were reinvested.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

The functional currency for our Canadian subsidiaries is the U.S. dollar. The books and records for these subsidiaries are maintained in the Canadian dollar. The financial statements of these foreign subsidiaries are remeasured into U.S. dollars using the historical exchange rate for property, plant, and equipment, timber and timberlands (related depreciation and amortization on both property, plant, and equipment and timber and timberlands), goodwill, and certain other non-monetary assets. We use the exchange rate at the balance sheet date for the remaining assets and liabilities, including deferred taxes. A weighted average exchange rate is used for each period for revenues and expenses. These transaction gains or losses are recorded in Other non-operating items on the Consolidated Statements of Income.

The functional currencies of our Chilean, Brazilian, Colombian, Peruvian, and Paraguayan subsidiaries are their respective local currencies. Our Argentinean subsidiary operates under a highly inflationary economy and uses the Chilean Peso as the functional currency. Assets and liabilities are translated into U.S. dollars using rates of exchange at the balance sheet date. Translation adjustments, which are based upon the exchange rate at the balance sheet date for assets and liabilities and the weighted average rate for the income statement, are recorded in Accumulated comprehensive loss in stockholders’ equity on the Consolidated Balance Sheets. Transaction gains and losses are recorded in Other non-operating items on the Consolidated Statements of Income.

Other operating charges and credits policy [Policy Text Block]

Other Operating Credits and Charges, Net

We classify amounts unrelated to ongoing core operating activities as other operating credits and charges, net in the Consolidated Statements of Income. Such items include, but are not limited to, restructuring charges (including severance charges), business exit charges, charges to establish and maintain litigation or environmental reserves, product reserves, gains or losses from settlements with governmental or other organizations, and gains or losses on the sale or disposal of long-lived assets. Due to the nature of these items, amounts in the income statement can fluctuate from year to year. The determination of which items are considered significant and unrelated to core operations is based upon management’s judgment.

Retirement Benefits Policy [Policy Text Block]

Retirement Benefits

We are required to use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Actuarial gains or losses, curtailments, prior service costs or credits, and transition obligations not previously recognized are recorded as a component of Accumulated comprehensive loss.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income

Comprehensive income consists of Net income and other gains and losses affecting stockholders’ equity that are excluded from Net income, including foreign currency translation adjustments, costs associated with pension or other post-retirement benefits that have not been recognized as components of net periodic benefit costs, and net unrealized gains or losses on securities and is presented in the accompanying Consolidated Statements of Comprehensive Income.

Advertising Cost [Policy Text Block]

Advertising costs

Advertising costs of $25 million, $28 million, and $24 million in 2023, 2022, and 2021, respectively, are principally expensed as incurred and included as part of selling, general, and administrative expenses within our Consolidated Statements of Income. Advertising costs include product displays, media production costs, agency fees, sponsorships, and cooperating advertising

Revenue (Notes)

12 Months Ended

Dec. 31, 2023

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer [Text Block]

. REVENUE

We disaggregate revenue from contracts with customers into major product lines. We have determined that disaggregating revenue into these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

As noted in the segment reporting information in "Note 18 - Segment Information" below, our reportable segments are: Siding, OSB, and LPSA. The following table presents our reportable segment revenues, disaggregated by revenue source (dollars in millions):


	Year Ended December 31, 2023
By Product type and family:	Siding		OSB		LPSA		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,319	$	—	$	24	$	—	—		$	1,343
OSB - Structural Solutions	—		565		177		—		—		742
	1,319		565		201		—		—		2,086
Commodity
OSB - Commodity	—		446		—		—		—		446

Other
Other products	9		15		4		22		—		49
	$	1,328	$	1,026	$	205	$	22	$	—	$	2,581


	Year Ended December 31, 2022
By Product type and family:	Siding		OSB		LPSA		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,463	$	—	$	23	$	—	$	—	$	1,486
OSB - Structural Solutions	—		1,110		215		—		(2)		1,323
	1,463		1,110		238		—		(2)		2,809
Commodity
OSB - Commodity	—		938		—		—		(1)		937

Other
Other products	6		14		3		84		—		107
	$	1,469	$	2,062	$	241	$	84	$	(2)	$	3,854


	Year Ended December 31, 2021
By Product type and family:	Siding		OSB		LPSA		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,158	$	—	$	33	$	—	$	—	$	1,191
OSB - Structural Solutions	—		1,152		227		—		—		1,379
	1,158		1,152		260		—		—		2,570
Commodity
OSB - Commodity	—		1,221		—		—		—		1,221

Other
Other products	12		14		5		95		(3)		123
	$	1,170	$	2,387	$	265	$	95	$	(3)	$	3,915

Revenue is recognized when obligations under the terms of a contract (e.g., purchase orders) with our customers are satisfied; generally, this occurs with the transfer of control of our products at a point in time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The shipping cost incurred by us to deliver products to our customers is recorded in Cost of sales. The expected costs associated with our warranties continue to be recognized as an expense when the products are sold.

During 2023, 2022, and 2021, our top ten customers accounted for approximately 50%, 48%, and 45% of our sales, respectively, in the aggregate. No individual customer exceeded 10% of our sales in 2023, 2022, or 2021.

Our businesses routinely incur customer program costs to obtain favorable product placement, promote sales of products, and maintain competitive pricing. Customer program costs and incentives, including rebates and promotion and volume allowances, are accounted for as a reduction in net sales at the time the program is initiated and/or the revenue is recognized. The costs include, but are not limited to, volume allowances and rebates, promotional allowances, and cooperative advertising programs. These costs are recorded at the later of 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 our estimates of customer volume achievement and other factors incorporated into customer agreements, such as new product purchases, store sell-through, merchandising support, and customer training. Management adjusts accruals when circumstances indicate (typically as a result of a change in volume expectations). As of December 31, 2023 and 2022, we accrued $37 million and $46 million, respectively, for customer rebates recorded in accounts payable and accrued liabilities on our Consolidated Balance Sheets.

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. The amount of consignment inventory as of December 31, 2023 and 2022, was $28 million and $20 million, respectively.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 19	$ 19
Asset Impairment Charges	0	0
Goodwill	19	19	$ 19
Intangible Assets, Net (Excluding Goodwill)	45	49
Amortization of Intangible Assets	(4)	(5)	(5)
Intangible Assets, Net (Excluding Goodwill)	32	45	49
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 3
Maximum \| Timber [Member]
Goodwill [Line Items]
Property, Plant and Equipment, Useful Life	25 years
Minimum [Member] \| Timber [Member]
Goodwill [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Licensing Agreements [Member]
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	$ 28	30
Amortization of Intangible Assets	(3)	(3)
Intangible Assets, Net (Excluding Goodwill)	25	28	30
Impairment of Intangible Assets, Finite-Lived	0
Licensing Agreements [Member] \| CANADA
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	91
Trademarks [Member]
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	2	2
Amortization of Intangible Assets	0	0
Intangible Assets, Net (Excluding Goodwill)	0	2	2
Impairment of Intangible Assets, Finite-Lived	2
Developed Technology Rights
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	15	17
Amortization of Intangible Assets	(1)	(2)
Intangible Assets, Net (Excluding Goodwill)	7	15	17
Impairment of Intangible Assets, Finite-Lived	7
Other Intangible Assets
Goodwill [Line Items]
Impairment of Intangible Assets, Finite-Lived	9
Siding
Goodwill [Line Items]
Goodwill, Beginning Balance	4	4
Asset Impairment Charges	0	0
Goodwill	4	4	4
OSB
Goodwill [Line Items]
Goodwill, Beginning Balance	16	16
Asset Impairment Charges	0	0
Goodwill	16	$ 16	$ 16
Entreka [Member]
Goodwill [Line Items]
Asset Impairment Charges	$ (9)

Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Dec. 31, 2023	Feb. 12, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	1-7107
Entity Registrant Name	LOUISIANA-PACIFIC CORPORATION
Entity Central Index Key	0000060519
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	93-0609074
Entity Address, Address Line One	1610 West End Ave.
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
City Area Code	(615)
Local Phone Number	986 - 5600
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	LPX
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 5,335,327,192
Entity Common Stock, Shares Outstanding		72,251,623
Documents Incorporated by Reference	Certain portions of the registrant's Definitive Proxy Statement for its 2024 Annual Meeting of Stockholders (which is expected to be filed with the Securities and Exchange Commission within 120 days after the end of the registrant's 2023 fiscal year) are incorporated by reference into Part III of this annual report on Form 10-K.

Retirement Plans and Post Retirement Benefits Pension Costs, Assumptions Used in Net Periodic Costs and Expected Contributions and Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 1	$ 3	$ 1
Interest cost	0	7	7
Expected return on plan assets	0	(7)	(13)
Amortization of prior service cost	0	1	1
Amortization of net actuarial loss	0	5	6
Net periodic pension cost before settlement	1	8	2
Loss due to settlement	4	82	2
Net periodic pension cost	4	91	4
Net periodic pension cost included in cost of sales	0	0	0
Net periodic pension cost included in selling, general, and administrative expenses	1	3	1
Net periodic pension cost included in other non-operating items	$ 4	$ 88	$ 3
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Defined Benefit Plan Net Periodic Benefit Cost Credit Settlement And Curtailment Gain Loss Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Loss due to pension settlement	Loss due to pension settlement	Loss due to pension settlement
Defined Benefit, Canadian Plans [Member]
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate		2.60%	2.30%
Expected return on plan assets		2.00%	2.30%
Defined Benefit, US Plans [Member]
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate		2.60%	2.30%
Expected return on plan assets		3.00%	5.30%

Committments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

maintain reserves for various contingent liabilities as follows (dollars in millions):


	December 31,
	2023		2022
Environmental reserves	$	26	$	27
Other reserves	—		—
Total contingencies	26		27
Current portion*	(1)		(1)
Long-term portion	$	25	$	26

*The current portion of the contingency reserve is included in accounts payable and accrued liabilities on our Consolidated Balance Sheets.

Schedule of Environmental Loss Contingencies by Site [Table Text Block]

The activity in our reserve for estimated environmental loss contingency reserves is summarized in the following table (dollars in millions):


	Year Ended December 31,
	2023		2022
Beginning balance	$	27	$	25
Adjustments to expense during the year (other operating credits charges, net and cost of sales)	—		2
Adjustments to amounts to be paid by a third party	—		2
Payments made	(1)		(2)
Ending balance	$	26	$	27

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic	(72)	(78)	(97)
Net loss attributed to noncontrolling interest	$ 0.0	$ 3.0	$ 4.0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	178.0	888.0	1,306.0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	0.0	198.0	71.0
Net Income (Loss) Attributable to Parent	$ 178.0	$ 1,086.0	$ 1,377.0
Dilutive effect of employee stock plans	0	0	1
Weighted average number of shares outstanding, diluted	72	78	98
Loss per share from discontinued operations	$ 0	$ 2.52	$ 0.73
Net income per share - diluted	2.46	13.87	14.09
Income per share continuing operations - basic	2.47	11.40	13.46
Loss per share from discontinued operations	0	2.54	0.73
Net income per share - diluted	2.47	13.94	14.19
Income per share continuing operations - diluted	$ 2.46	$ 11.34	$ 13.37
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 178.0	$ 885.0	$ 1,302.0

IMPAIRMENT OF LONG-LIVED ASSETS (Details) $ in Millions	12 Months Ended
IMPAIRMENT OF LONG-LIVED ASSETS (Details) $ in Millions	Dec. 31, 2023 USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 30
Property Plant, and Equipment and Operating Lease Assets \| Granite City, Illinois
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of Leasehold	6
Property Plant, and Equipment and Operating Lease Assets \| Entekra [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of Leasehold	$ 24

Income Taxes Income tax provision (benefit) from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. federal	$ 17	$ 180	$ 284
State and local	(1)	51	56
Foreign	14	42	56
Net current tax provision (benefit)	30	273	396
U.S federal	22	(1)	2
State and local	1	(4)	0
Foreign	21	12	4
Net valuation allowance increase (decrease)	0	(6)	0
Deferred income tax expense (benefit)	44	1	6
Provision (benefit) for income taxes	74	274	$ 402
Taxes Payable	$ 22	$ 16

Other Operating Credits and Charges, Net (Tables)

12 Months Ended

Dec. 31, 2023

Other Operating Credits And Charges, Net [Abstract]

Schedule of Other Nonoperating Income (Expense) [Table Text Block]

Non-operating income (expense) is comprised of the following components (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Interest expense	$	(17)	$	(14)	$	(15)
Amortization of debt charges	(1)		(1)		(2)
Capitalized interest	4		5		3
Interest expense, net of capitalized interest	$	(14)	$	(11)	$	(14)

Interest income	$	18	$	14	$	1


Investment income	$	18	$	14	$	1

Net periodic pension cost, excluding service cost	$	—	$	(6)	$	(1)
Foreign currency gains (losses), net	(40)		(11)		(8)
Loss on early debt extinguishment	—		—		(11)
Pension settlement charges	(4)		(82)		(2)
Other	1		2		—
Other non-operating items	$	(43)	$	(97)	$	(22)

Other Operating Credits and Charges Net [Table Text Block]

The major components of Other operating credits and charges, net in the Consolidated Statements of Income for the years ended December 31, 2023, 2022, and 2021 are reflected in the table below and described in the paragraphs following the table (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Insurance recoveries	$	—	$	15	$	4
Legal settlement	(16)		—		—
Reorganization charges	(8)		(7)		(1)


Environment costs	—		(2)		(4)
Product liability settlement	—		8		—
Gain (loss) on asset sales	6		(1)		(2)
Other	(1)		2		3
	$	(19)	$	16	$	1

Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred Tax Liabilities, Undistributed Foreign Earnings	$ 21.0	$ 0.0
Gross Deferred Tax Liabilities, Undistributed Foreign Earnings	22.0
Deferred Tax Credit, Undistributed Foreign Earnings	$ 1.0

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill by segment for the years ended December 31, 2023 and 2022, are provided in the following table (dollars in millions):


	Siding		OSB		Total
Balance at December 31, 2021	$	4	$	16	$	19

Impairment charges	—		—		—
Balance at December 31, 2022	4		16		19

Impairment charges	—		—		—
Balance at December 31, 2023	$	4	$	16	$	19

Changes in other intangible assets for the years ended December 31, 2023 and 2022, are provided in the following table (dollars in millions):


	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2021	$	30	$	17	$	2	$	49


Amortization	(3)		(2)		—		(5)
Balance at December 31, 2022	28		15		2		45

Impairment	—		(7)		(2)		(9)
Amortization	(3)		(1)		—		(4)
Balance at December 31, 2023	$	25	$	7	$	—	$	32

1Timber licenses are included in timber and timberlands on the Consolidated Balance Sheets.

The Company’s goodwill and other intangible assets are evaluated for impairment annually during the fourth quarter or more frequently if events indicate the carrying value of a reporting unit may not be recoverable. During the year ended December 31, 2023, we recorded impairment charges of $9 million related to developed technology and trademarks related to Entekra, which is discussed further in “Note 7 - Business Exit Charges.”

Included in the balance of timber licenses are values allocated to Canadian forest licenses whose initial value of $91 million is amortized over the estimated useful life of 20 to 25 years. Amortization expense related to definite-lived intangible assets was $4 million for the year ended December 31, 2023 and $5 million for each of the years ended December 31, 2022 and 2021.

Amortization of the above-described intangible assets will be $3 million per year over the next five years.

Long-term Debt Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
Long-term Debt Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amortization of financing costs and discounts		$ 1	$ 1	$ 2
Long-term Debt, Gross		$ 350	350
Debt, weighted average interest rate		3.60%
Write off of deferred debt issuance cost				2
Redemption Premium				$ 9
Deferred Tax Liabilities, Deferred Expense, Debt Issuance Costs		$ 3
Senior unsecured notes, maturing 2024
Debt Instrument [Line Items]
Fair value of debt		314	306
Senior unsecured notes, maturing 2029 \| Senior Notes
Debt Instrument [Line Items]
Amount of loan issuance	$ 350
Long-term Debt, Gross		$ 350	$ 350
Debt, interest rate, stated percentage	3.625%	3.625%
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Repurchase Price, Percentage	101.00%
Debt Instrument, Debt Default, Principal Amount Due, Percentage	25.00%
Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 550
Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 20
Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage		0.20%
Minimum \| Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Fee, Percentage		0.50%
Maximum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage		0.425%
Maximum \| Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Fee, Percentage		1.875%
Base Rate \| Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Base Rate \| Maximum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Federal Funds Rate \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
One-Month LIBOR \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
SOFR \| Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
SOFR \| Maximum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%
Adjusted Rate SOFR \| Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.10%

Leases (Notes)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessee, Operating Leases

. LEASES

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

As most of our leases do not provide an implicit rate, we used our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease term for all our leases includes the non-cancellable 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.

As of December 31, 2023, our weighted average discount rate was 3%, and our weighted average remaining lease term was seven years for operating leases.

Our operating leases are included in our Consolidated Balance Sheets and Consolidated Statements of Income as follows (dollars in millions):


	Classification	December 31,
Consolidated Balance Sheet		2023		2022
Assets:
Operating lease assets	Operating lease assets, net	$	25	$	44

Total lease assets		$	25	$	44
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	6	$	8

Non-current
Operating	Non-current operating lease liabilities	25		41

Total lease liabilities		$	32	$	49

For the years ended December 31, 2023 and 2022, we incurred operating lease expenses of $10 million and $10 million, respectively, included within costs of sales and selling, general and administrative expenses. We made cash payments of $10 million and $9 million during the years ended December 31, 2023 and 2022, respectively, related to our operating leases. We further incurred operating lease expense of $4 million and $6 million related to short-term rent expense for the years ended December 31, 2023 and 2022, respectively.

We obtained right of use (ROU) assets in exchange for new operating lease liabilities of $4 million and $4 million for the years ended December 31, 2023 and 2022, respectively. We did not enter into any financing leases during 2023 or 2022.

In connection with the Entekra shutdown described in "Note 7 - Business Exit Charges,” we terminated the related lease arrangements and derecognized the associated operating lease assets and liabilities, resulting in a non-cash pre-tax impairment charge of $3 million.

The following table sets forth the minimum lease payments that are expected to be made in each of the years indicated (dollars in millions):


	Operating Leases
2024	$	7
2025	6
2026	5
2027	3
2028	3
2029 and thereafter	9
Total lease payments	34
Less: Interest	(3)
Present value of lease liabilities	$	32

Present and Prospective Accounting Pronouncements (Notes)	12 Months Ended
	Dec. 31, 2023
Present and Prospective Accounting [Abstract]
Present and Prospective Accounting Pronouncements	PRESENT AND PROSPECTIVE ACCOUNTING PRONOUNCEMENTS Recent Pronouncements Not Yet Adopted Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, and an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This pronouncement is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and disclosures. Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. This pronouncement is effective for fiscal years beginning after December 15, 2024, with early adoption permitted.

Retirement Plans and Post Retirement Benefits

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Retirement Plans and Postretirement Benefits

RETIREMENT PLANS AND POST-RETIREMENT BENEFITS

We sponsor various defined contribution retirement plans and benefit pension plans that provide retirement benefits to substantially all our employees. Most regularly scheduled employees are eligible to participate in the defined contribution retirement plans except those covered by a collective bargaining agreement unless the collective bargaining agreement explicitly allows for participation in our plans. We contribute to a multiemployer plan for certain employees covered by collective bargaining agreements. We also provide other post-retirement benefits consisting primarily of healthcare benefits to certain retirees who meet age and service requirements. The defined benefit pension plans were limited to active and retired employees that were eligible prior to the plans being frozen. The defined benefit pension plans were substantially settled through lump sum distributions and purchase of third-party annuity contracts in 2022.

Defined Benefit Pension Plans

During the year ended December 31, 2022, the Company initiated the termination of our frozen U.S. and Canadian defined benefit pension plans (collectively, the Plan). Plan participants were provided the opportunity to receive their full accrued benefits from Plan assets by either electing immediate lump sum distributions or annuity contracts with a qualifying third-party annuity provider. During the year ended December 31, 2022, we contributed $5 million to fund the liquidation of the Plan. Plan assets of $247 million were liquidated to fund lump sum distributions to participants and purchase annuity contracts. As a result, a substantial portion of the Plan was settled during the year ended December 31, 2022, resulting in recognition of non-cash, pre-tax charges of $82 million from Accumulated comprehensive loss to Other non-operating items in our Consolidated Statements of Income. Upon final termination of the Plan in 2023, we recognized $6 million of non-cash, pre-tax charges from Accumulated comprehensive loss and realized pre-tax gains of $2 million related to refunds from the annuity provider to the Plan associated with the final reconciliation of participant data. The remaining Plan asset balance of $2 million was refunded in 2023.

The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated salary increases. The following table details information regarding our pension plans at December 31, 2023 and 2022 (dollars in millions):


	2023		2022
Change in benefit obligation:
Beginning of year balance	$	3	$	301
Service cost	1		3
Interest cost	—		7
Actuarial (gains) losses, net	—		(47)


Foreign exchange rate changes	—		(2)
Benefits paid	—		(13)
Pension settlements	(2)		(247)
End of year balance	$	2	$	3
Change in assets (fair value):
Beginning of year balance	$	6	$	296
Actual return on plan assets	(1)		(33)
Employer contribution	(2)		5
Foreign exchange rate changes	—		(2)
Benefits paid	—		(13)
Pension settlements	(2)		(247)

End of year balance	$	—	$	6
Plan assets less than benefit obligations	$	(2)	$	2

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	—	$	4
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(2)		(2)
Net amount recognized	$	(2)	$	2

Amounts in accumulated comprehensive loss:
Net actuarial loss	$	(1)	$	(1)
Prior service costs	—		(6)
Total pre-tax amounts in accumulated comprehensive loss	$	(1)	$	(6)

The 2022 actuarial gains of $47 million were primarily related to a change in interest rates from prior year-end to those effective for settling the benefit plan obligations and actual return on Plan assets of $33 million was primarily related to market returns realized prior to the pension settlement dates.

The changes recognized in other comprehensive loss were as follows (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Pension settlements, net of tax	$	4	$	62	$	2
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	—		5		(1)
Amortization of actuarial loss, prior service cost, net of tax	—		4		5
Total amounts recognized in other comprehensive income	$	4	$	71	$	5

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2022 was as follows:


	2022
Discount rate:
U.S.	2.3	%
Canada	3.8	%
Rate of compensation increase:
U.S.	NA
Canada	NA

Benefit obligations by plan category are as follows (dollars in millions):


	2023
	U.S.		Canada		Total
Fair value of plan assets	$	—	$	—	$	—
Benefit obligation	1		1		2
Funded Status	$	(1)	$	(1)	$	(2)

	2022
	U.S.		Canada		Total
Fair value of plan assets	$	1	$	4	$	6
Benefit obligation	2		2		3
Funded Status	$	—	$	3	$	2

The following table sets forth the net periodic pension cost for our defined benefit pension plans. The components of our net periodic pension costs consisted of the following (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Service cost	$	1	$	3	$	1
Other components of net periodic pension cost:
Interest cost	—		7		7
Expected return on plan assets	—		(7)		(13)
Amortization of prior service cost and net transition asset	—		1		1
Amortization of net actuarial loss	—		5		6
Net periodic pension cost before loss due to settlement	1		8		2
Loss due to pension settlement	4		82		2
Total net periodic pension cost	$	4	$	91	$	4

Net periodic pension cost included in cost of sales	$	—	$	—	$	—
Net periodic pension cost included in selling, general, and administrative expenses	1		3		1
Net periodic pension cost included in other non-operating items	4		88		3
	$	4	$	91	$	4

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2022, and 2021 were as follows:


	2022		2021
Discount rate:
U.S.	2.6	%	2.3	%
Canada	2.6	%	2.3	%

Expected return on plan assets:
U.S.	3.0	%	5.3	%
Canada	2.0	%	2.3	%

Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

The expected long-term rate of return on plan assets reflects the weighted average expected long-term rates of return for the broad categories of investments currently held in the plans (adjusted for expected changes), based on historical rates of return for each broad category, as well as factors that may constrain or enhance returns in the broad categories in the future. The expected long-term rate of return on plan assets is adjusted when there are fundamental changes in expected returns in one or more broad asset categories and when the weighted average mix of assets in the plans changes significantly.

The fair value of our pension plan assets was $6 million as of December 31, 2022, respectively, based on Level 1 inputs. Refer to "Note 1 - Summary of Significant Accounting Policies" for further detail on the level of inputs as defined.

Defined Contribution Plans

We also sponsor defined contribution plans in the U.S. and Canada. In the U.S., these plans are primarily 401(k) plans for hourly and salaried employees that allow for pre-tax employee deferrals and a Company match of up to 5% of an employee’s eligible wages (subject to certain limits). Under the profit-sharing feature of these plans, we may elect to contribute a discretionary amount as a percentage of eligible wages. Included in the assets of the 401(k) and profit-sharing plans are one million shares of LP common stock that represented approximately 8% of the total market value of plan assets at December 31, 2023.

In Canada, we sponsor both defined contribution plans and Registered Retirement Savings Plans for hourly and salaried employees that allow for employee tax deferrals. We provide a 100% match for employee contributions up to 4% and provide a 50% match of employee's contributions from 4% to 6% (subject to certain limits).

Expenses related to the U.S. and Canadian defined contribution plans and the Registered Retirement Savings Plans, including the profit-sharing feature, were $15 million, $23 million, and $21 million in 2023, 2022, and 2021, respectively.

Other Benefit Plans

We have several plans that provide post-retirement benefits other than pensions, primarily for salaried employees in the U.S. and certain groups of Canadian employees. The obligation at December 31, 2023 and 2022 for these post-retirement benefits was $8 million and $7 million, respectively. The net expense related to these plans was not significant in 2023, 2022, or 2021.

In 2004, we adopted the Louisiana-Pacific Corporation 2004 Executive Deferred Compensation Plan (the Deferred Compensation Plan). Pursuant to the Deferred Compensation Plan, participants are eligible to defer up to 90% of their base salary and annual cash incentives that exceed the limitation as set forth by the Internal Revenue Service and receive a 5% match on their contributions. Each Deferred Compensation Plan participant is fully vested in all employee deferred compensation and earnings credited associated with employee contributions. Employer contributions and associated earnings vest over periods not exceeding five years. The liability under the Deferred Compensation Plan amounted to $3 million and $2 million as of December 31, 2023 and 2022, respectively, and is included in other long-term liabilities on our Consolidated Balance Sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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-URI https://asc.fasb.org//715/tableOfContent

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+ Details

Product Warranty (Details) - USD ($) $ in Millions	12 Months Ended
Product Warranty (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 8	$ 7
Accrued to expense during the year	2	3
Reduced to other operating credits and charges	1	0
Payments made	(2)	(3)
Ending Balance	8	8
Current portion of warranty reserves	(2)	(2)
Long-term portion of warranty reserves	$ 6	$ 6

Summary of Significant Accounting Policies Other long-term liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other long term liabilities [Abstract]
Asset Retirement Obligation, Current	$ 15	$ 7
Unrecognized Tax Benefits	6	6
Liability, Retirement and Postemployment Benefits	8	8
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	7	7
Pension benefit obligation	2	1
Other long term liabilities	23	25
Other long-term liabilities	$ 61	$ 53

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

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


		December 31, 2023						December 31, 2022
(Dollars in millions)	Interest Rate	Principal		Unamortized Debt Costs		Total		Principal		Unamortized Debt Costs		Total
Debentures:
Senior unsecured notes, maturing 2029, interest rates fixed	3.625%	$	350	$	(3)	$	347	$	350	$	(4)	$	346
Amended Credit Facility, maturing 2028, interest rates variable	varies	—		—		—		—		—		—


Total		350		(3)		347		350		(4)		346
Less: current portion		—				—		—				—
Long-term portion		$	350	$	(3)	$	347	$	350	$	(4)	$	346

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

The weighted average interest rate for all long-term debt at both December 31, 2023 and 2022 was approximately 3.6%. Required repayment of principal for long-term debt is as follows (dollars in millions):


Years ending December 31,
2024	$	—
2025	—
2026	—
2027	—
2028	—
2029 and thereafter	350
Total	$	350

- 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.

+ References

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-Section 55
-Paragraph 69B
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-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

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+ Details

Income Taxes Tax act (Details)	12 Months Ended
Income Taxes Tax act (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 2
Common Stock, Par or Stated Value Per Share	$ 1
Common Stock, Shares Authorized	200,000,000	87,986,865
Common Stock, Shares, Issued	87,986,865	71,748,200
Common Stock, Shares, Outstanding	72,155,979
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Shares Authorized	15,000,000
Preferred Stock, Shares Outstanding	0
Treasury Stock, Shares	15,830,886	16,238,665

Segment Information Identifiable assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets	$ 2,437	$ 2,350
Non-segment related
Assets	444	589
OSB \| Operating Segments
Assets	526	491
Siding \| Operating Segments
Assets	1,291	1,045
South America \| Operating Segments
Assets	165	151
Other \| Operating Segments
Assets	$ 11	$ 74

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]


	Year Ended December 31, 2023
By Product type and family:	Siding		OSB		LPSA		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,319	$	—	$	24	$	—	—		$	1,343
OSB - Structural Solutions	—		565		177		—		—		742
	1,319		565		201		—		—		2,086
Commodity
OSB - Commodity	—		446		—		—		—		446

Other
Other products	9		15		4		22		—		49
	$	1,328	$	1,026	$	205	$	22	$	—	$	2,581


	Year Ended December 31, 2022
By Product type and family:	Siding		OSB		LPSA		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,463	$	—	$	23	$	—	$	—	$	1,486
OSB - Structural Solutions	—		1,110		215		—		(2)		1,323
	1,463		1,110		238		—		(2)		2,809
Commodity
OSB - Commodity	—		938		—		—		(1)		937

Other
Other products	6		14		3		84		—		107
	$	1,469	$	2,062	$	241	$	84	$	(2)	$	3,854


	Year Ended December 31, 2021
By Product type and family:	Siding		OSB		LPSA		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,158	$	—	$	33	$	—	$	—	$	1,191
OSB - Structural Solutions	—		1,152		227		—		—		1,379
	1,158		1,152		260		—		—		2,570
Commodity
OSB - Commodity	—		1,221		—		—		—		1,221

Other
Other products	12		14		5		95		(3)		123
	$	1,170	$	2,387	$	265	$	95	$	(3)	$	3,915

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Cost by Plan [Table Text Block]

Stock Award Plan

We have a stock-based compensation plan under which stock options, SSARs, restricted stock, restricted stock units, and performance stock units may be granted. At December 31, 2023, approximately four million shares were available under the current plan for these awards.


	Year ended December 31,
(Dollars in millions)	2023		2022		2021
Total stock-based compensation expense (cost of sales, selling, general and administrative, and other operating credits and charges, net)	$	13	$	19	$	16
Income tax benefit related to stock-based compensation	$	2	$	8	$	3
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	(12)	$	(16)	$	(7)

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

The following table summarizes stock awards as of December 31, 2023, as well as activity during the last year.


	Stock Options / SSARS			Restricted Stock Units and Performance Stock Units
	Number of Awards	Weighted Average Exercise Price		Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022	182,989	$	17.59	645,504	$	48.49
Granted	—	—		590,817	54.97
Exercised	(42,278)	17.87		—	—
Vested	—	—		(468,148)	38.97
Forfeited/cancelled	—	—		(200,182)	62.60
Outstanding at December 31, 2023	140,711	$	17.50	567,991	$	62.59
Vested and expected to vest at December 31, 20231	140,711	$	17.50
Exercisable at December 31, 2023	140,711	$	17.50
Unrecognized compensation costs (in millions)		$	—		$	10
To be recognized over weighted-average period of years		0			1

1Expected to vest based upon historical forfeiture rate.

Retirement Plans and Post Retirement Benefits Defined Contribution Plans and Other Benefit Plans (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plans [Abstract]
Total market value of plan assets represented by LP common stock	4.00%
Employer matching percentage	50.00%
Expenses related to defined contribution plans and multiemployer plan	$ 15.0	$ 23.0	$ 21.0
Deferred Compensation Arrangements [Abstract]
Funded status	$ (2.0)	2.0
Deferred compensation plan maximum deferral percentage	90.00%
Deferred compensation plan, employer contributions and related earnings, maximum vesting period	5 years
Deferred compensation liability included in "Other long-term liabilities"	$ (3.0)	(2.0)
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Minimum [Member]
Defined Contribution Plans [Abstract]
Employer matching percentage	4.00%
Maximum
Defined Contribution Plans [Abstract]
Employer matching percentage	6.00%
US Defined Contribution Plan [Member]
Defined Contribution Plans [Abstract]
Maximum percentage of employee's wages eligible for company match	5.00%
Shares of LP common stock included in plan assets	1,000,000
Total market value of plan assets represented by LP common stock	8.00%
Deferred Compensation Arrangements [Abstract]
Deferred Compensation Arrangement, Maximum Annual Contributions Per Employee, Percent	0.05
Other Postretirement Benefits Plan [Member]
Deferred Compensation Arrangements [Abstract]
Funded status	$ 8.0	$ 7.0

SSARs (Details) - USD ($) $ in Millions	12 Months Ended
SSARs (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 3.0	$ 4.0	$ 8.0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Options and SSARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs) \| Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares \| Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares \| Share-based Payment Arrangement, Employee \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Payment Arrangement, Performance Threshhold	200.00%
Share Based Payment Arrangement, Increase (Decrease), Performance Threshold	20.00%
Performance Shares \| Share-based Payment Arrangement, Employee \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Payment Arrangement, Performance Threshhold	0.00%

Summary of Significant Accounting Policies Receivables (Details) $ in Millions	Dec. 31, 2023 USD ($) plant	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 104	$ 106
Income Taxes Receivable, Current	27	4
Other receivables	26	19
Allowance for Doubtful Other Receivables, Current	(2)	(1)
Receivables, net of allowance for doubtful accounts of $2 million at December 31, 2023, and $1 million at December 31, 2022, respectively	$ 155	$ 127
Number of Plants Operated \| plant	23

Long-term Debt (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Mar. 31, 2021

Notes and Loans Payable [Abstract]

Long-term Debt, Gross

$ 350

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

(3)

(4)

Long-term debt

347

346

Current portion of long-term debt

Long term debt, Gross, Noncurrent

350

Long-term debt, excluding current portion

$ 347

346

Banking Regulation, Tangible Capital Ratio, Actual

57.50%

Long-term Debt [Text Block]

LONG-TERM DEBT


		December 31, 2023						December 31, 2022
(Dollars in millions)	Interest Rate	Principal		Unamortized Debt Costs		Total		Principal		Unamortized Debt Costs		Total
Debentures:
Senior unsecured notes, maturing 2029, interest rates fixed	3.625%	$	350	$	(3)	$	347	$	350	$	(4)	$	346
Amended Credit Facility, maturing 2028, interest rates variable	varies	—		—		—		—		—		—


Total		350		(3)		347		350		(4)		346
Less: current portion		—				—		—				—
Long-term portion		$	350	$	(3)	$	347	$	350	$	(4)	$	346

Senior Notes

In March 2021, we issued $350 million of 3.625% Senior Notes due in 2029 (2029 Senior Notes). We may redeem the 2029 Senior Notes, in whole or in part, prior to March 15, 2024, at a redemption price equal to 100% of the principal amount thereof plus a “make-whole” premium set forth in the indenture governing our 2029 Senior Notes, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. On or after March 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 2029 Senior Notes, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. The indenture governing the 2029 Senior Notes contains certain covenants that, among other things, limit our ability to grant liens to secure indebtedness, engage in sale and leaseback transactions, 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 governing our 2029 Senior Notes, we are required to offer to repurchase the 2029 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 2029 Senior Notes contains customary events of default, including failure to make required payments on the 2029 Senior Notes, failure to comply with certain agreements or covenants contained in the indenture governing our 2029 Senior Notes, 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 2029 Senior Notes to accelerate, or in certain cases, automatically causes the acceleration of, the amounts due under the 2029 Senior Notes.

Deferred debt costs are amortized over the life of the related debt using a straight-line basis which approximates the effective interest method. If the debt is retired early, the related unamortized deferred financing costs are written off in the period the debt is retired to other non-operating items.

Credit Facilities

In November 2022, LP entered into a Second Amended and Restated Credit Agreement with American AgCredit, PCA, as administrative agent and sole lead arranger, CoBank, ACB, as letter of credit issuer, and certain other lender parties (the Credit Agreement), relating to its revolving credit facility (as amended, the Amended Credit Facility). The Credit Agreement provides for a revolving credit facility in the principal amount of up to $550 million, with a $60 million sub-limit for letters of credit. The Credit Agreement amended and restated the Amended and Restated Credit Agreement entered into by the Company and certain other parties dated as of June 27, 2019, as amended prior to the effectiveness of the Credit Agreement (as defined above), in its entirety to, among other things, (i) reflect the release of the collateral that secures the indebtedness evidenced by the Credit Agreement as a result of the Company’s obtaining an Investment Grade rating in November 2022 (which collateral may be reinstated from time to time in accordance with the terms of the Credit Agreement), (ii) extend the maturity date to November 29, 2028, (iii) make certain changes to effect a transition from the LIBOR interest rate benchmark to Term SOFR Rate (as defined in the Credit Agreement) and (iv) provide for certain other modifications (including modifications to certain basket and threshold levels in the negative covenants) as set forth in the Credit Agreement.

There were no outstanding amounts borrowed under the Amended Credit Facility as of December 31, 2023. Revolving borrowings under the Amended Credit Facility accrue interest, at our option, at either (a) a “base rate” plus a margin of 0.500% to 1.500% or (b) Adjusted Term SOFR (i.e., Term SOFR Rate plus an adjustment of 0.10%) plus a margin of 1.500% to 2.500%. The Amended Credit Facility also includes an unused commitment fee, due quarterly, ranging from 0.200% to 0.425%. The applicable margins and fees within these ranges are based on our ratio of consolidated Earnings before interest, taxes, depreciation and amortization (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 Adjusted Term SOFR plus 1.0%.

The Credit Agreement contains various restrictive covenants and customary events of default, the occurrence of which could result in the acceleration of our obligation to repay the indebtedness outstanding thereunder. The Credit Agreement also contains financial covenants that, among other things, require us and our consolidated subsidiaries to have, as of the end of each fiscal quarter, a capitalization ratio (i.e., funded debt less unrestricted cash to total capitalization) of no more than 57.5%.

In March 2020, LP entered into a letter of credit facility agreement (the 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 million, which may be secured by certain cash collateral of LP. The Letter of Credit Facility includes quarterly a letter of credit fee in an amount equal to 1.875% of the daily available amount to be drawn on each letter of credit issued under the facility; provided, that if all letters of credits issued under the Letter of Credit Facility have been cash collateralized, the applicable rate of the letter of credit fee is reduced to 0.500%. The Letter of Credit Facility is subject to similar affirmative, negative, and financial covenants as those set forth in the Credit Agreement, including capitalization ratio covenants.

As of December 31, 2023, we were in compliance with all financial covenants under the 2029 Senior Notes, the Credit Agreement and the Letter of Credit Facility.

Deferred debt costs are amortized over the life of the related debt using a straight-line basis, which approximates the effective interest method. Included in such amortized amounts are deferred debt costs associated with our Amended Credit Facility of $3 million, which are recorded within other assets on our Consolidated Balance Sheets. We amortized deferred debt costs of $1 million for each of the years ended December 31, 2023, 2022, and 2021.


Years ending December 31,
2024	$	—
2025	—
2026	—
2027	—
2028	—
2029 and thereafter	350
Total	$	350

We estimated the 2029 Senior Notes to have a fair value of $314 million and $306 million at December 31, 2023 and 2022, respectively, based upon market quotations. Fair values were based on trading activity among the Company’s lenders and the average bid and ask price as determined using published rates (Level 1 in the U.S. GAAP fair value hierarchy).

Senior unsecured notes, maturing 2024

Notes and Loans Payable [Abstract]

Notes Payable, Fair Value Disclosure

$ 314

306

Senior Notes | Senior unsecured notes, maturing 2029

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 350

Notes and Loans Payable [Abstract]

Debt, interest rate, stated percentage

3.625%

Long-term Debt, Gross

$ 350

350

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

(3)

(4)

Long-term debt

347

346

Revolving Credit Facility

Notes and Loans Payable [Abstract]

Long-term Debt, Gross

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

Long-term debt

$ 0

Line of Credit | Amended Credit Facility | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Line of Credit Facility, Maximum Borrowing Capacity

$ 550

Line of Credit | Amended Credit Facility | Minimum [Member] | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Debt instrument, commitment fee percentage

0.20%

Line of Credit | Amended Credit Facility | Minimum [Member] | Revolving Credit Facility | Base Rate

Notes and Loans Payable [Abstract]

Debt instrument, basis spread on variable rate

0.50%

Line of Credit | Amended Credit Facility | Maximum | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Debt instrument, commitment fee percentage

0.425%

Line of Credit | Amended Credit Facility | Maximum | Revolving Credit Facility | Base Rate

Notes and Loans Payable [Abstract]

Debt instrument, basis spread on variable rate

1.50%

Line of Credit | Letter of Credit Facility | Letter of Credit

Notes and Loans Payable [Abstract]

Line of Credit Facility, Maximum Borrowing Capacity

$ 20

Line of Credit | Letter of Credit Facility | Minimum [Member] | Letter of Credit

Notes and Loans Payable [Abstract]

Debt Instrument, Fee, Percentage

0.50%

Line of Credit | Letter of Credit Facility | Maximum | Letter of Credit

Notes and Loans Payable [Abstract]

Debt Instrument, Fee, Percentage

1.875%

Letter of Credit Sub-limit | Amended Credit Facility | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Line of Credit Facility, Maximum Borrowing Capacity

$ 60

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Comprehensive Loss [Member]
Balance, Beginning at Dec. 31, 2020	$ 1,234.0	$ 124.0	$ (397.0)	$ 452.0	$ 1,206.0	$ (151.0)
Balance, Beginning, Shares at Dec. 31, 2020		124,000,000	17,000,000
Net income	1,377.0				1,377.0
Payment of cash dividends	(66.0)				(66.0)
Issuance of shares for employee stock plans and stock-based compensation			(1,000,000)
Issuance of shares for employee stock plans and stock-based compensation, amount	2.0		$ 14.0	(12.0)
Taxes paid on net settlement	(7.0)		$ (7.0)
Common stock, Shares acquired		(21,000,000)
Common stock, Value, Shares acquired		$ (21.0)
Treasury Stock, Shares, Acquired			0
Treasury Stock, Value, Acquired, Cost Method	(1,300.0)		$ 0.0
Stock Repurchased and Retired During Period, Value					(1,279.0)
Compensation expense associated with stock awards	17.0			17.0
Other comprehensive loss	(23.0)					(23.0)
Balance, Ending, Shares at Dec. 31, 2021		102,000,000	17,000,000
Balance, Ending at Dec. 31, 2021	1,235.0	$ 102.0	$ (390.0)	458.0	1,239.0	(174.0)
Net income	1,086.0
Payment of cash dividends	(69.0)				(69.0)
Issuance of shares for employee stock plans and stock-based compensation			(1,000,000)
Issuance of shares for employee stock plans and stock-based compensation, amount	3.0		$ 18.0	(15.0)
Taxes paid on net settlement	(16.0)		$ (16.0)
Common stock, Shares acquired		(14,000,000)
Common stock, Value, Shares acquired		$ (14.0)
Treasury Stock, Shares, Acquired			0
Treasury Stock, Value, Acquired, Cost Method	(900.0)		$ 0.0
Stock Repurchased and Retired During Period, Value					(886.0)
Compensation expense associated with stock awards	19.0			19.0
Other comprehensive loss	75.0					75.0
Balance, Ending, Shares at Dec. 31, 2022		88,000,000	16,000,000
Balance, Ending at Dec. 31, 2022	$ 1,433.0	$ 88.0	$ (388.0)	462.0	1,371.0	(99.0)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.22
Treasury Stock, Value	$ 388.0
Net income	178.0
Payment of cash dividends	(69.0)				(69.0)
Issuance of shares for employee stock plans and stock-based compensation			(1,000,000)
Issuance of shares for employee stock plans and stock-based compensation, amount	4.0		$ 14.0	(10.0)
Taxes paid on net settlement	(12.0)		$ (12.0)
Common stock, Shares acquired		0
Common stock, Value, Shares acquired		$ 0.0
Treasury Stock, Shares, Acquired			0
Treasury Stock, Value, Acquired, Cost Method	0.0		$ 0.0
Stock Repurchased and Retired During Period, Value					0.0
Compensation expense associated with stock awards	13.0			13.0
Other comprehensive loss	$ 10.0					10.0
Balance, Ending, Shares at Dec. 31, 2023	72,155,979	88,000,000	16,000,000
Balance, Ending at Dec. 31, 2023	$ 1,557.0	$ 88.0		$ 465.0	$ 1,479.0	$ (89.0)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.24
Treasury Stock, Value	$ 386.0		$ 386.0

Summary of Significant Accounting Policies Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Restricted cash	$ 0	$ 14

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Shareholders' Equity and Share-based Payments

STOCKHOLDERS' EQUITY

Preferred Stock

We are authorized to issue up to 15,000,000 shares of preferred stock at $1.00 par value. At December 31, 2023, no shares of preferred stock have been issued.

Stock Award Plan


	Year ended December 31,
(Dollars in millions)	2023		2022		2021
Total stock-based compensation expense (cost of sales, selling, general and administrative, and other operating credits and charges, net)	$	13	$	19	$	16
Income tax benefit related to stock-based compensation	$	2	$	8	$	3
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	(12)	$	(16)	$	(7)

We recognize the compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of three years.

SSARs

Prior to January 1, 2018, we granted SSARs to key employees under the Company's then-current stock award plan. On exercise, we generally issue these shares from treasury. The SSARs were granted at market price at the date of grant. The SSARs became exercisable over three years and expire ten years after the date of grant. All outstanding SSARs were vested as of December 31, 2023.

Restricted Stock Units and Performance Stock Units

We grant time-vested restricted stock units and performance stock units (PSUs) to certain key employees and time-vested restricted stock units to non-employee directors under our stock award plan. Restricted stock units (RSUs) vest ratably over a three-year vesting period for employees and vest in full on the first anniversary of the grant date for non-employee directors. Certain of these awards are eligible to receive dividend equivalent shares. The grant date fair value of these awards approximates market value of the shares. PSUs vest based upon the attainment of certain performance and market metrics over a three-year cumulative performance period. Awards based upon the achievement of the performance goals are earned ratably from 0% to 200%. If the performance goals are met at the end of the performance period, the award may be adjusted based on LP's three-year total shareholder return (TSR) performance relative to a capital market peer group. This TSR modifier can increase or decrease the award by 20%, although the TSR modifier cannot cause the award to exceed the maximum of 200%.

Summary of Stock Awards Outstanding

The following table summarizes stock awards as of December 31, 2023, as well as activity during the last year.


	Stock Options / SSARS			Restricted Stock Units and Performance Stock Units
	Number of Awards	Weighted Average Exercise Price		Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022	182,989	$	17.59	645,504	$	48.49
Granted	—	—		590,817	54.97
Exercised	(42,278)	17.87		—	—
Vested	—	—		(468,148)	38.97
Forfeited/cancelled	—	—		(200,182)	62.60
Outstanding at December 31, 2023	140,711	$	17.50	567,991	$	62.59
Vested and expected to vest at December 31, 20231	140,711	$	17.50
Exercisable at December 31, 2023	140,711	$	17.50
Unrecognized compensation costs (in millions)		$	—		$	10
To be recognized over weighted-average period of years		0			1

1Expected to vest based upon historical forfeiture rate.

In October 2023, LP modified the performance vesting criteria of approximately 105,000 and 75,000 PSU awards outstanding that were granted in 2021 and 2022, respectively. The original awards were canceled, and the modified awards were considered granted on the modification date. Stock-based compensation expense related to these modified awards will be recognized over the remaining vesting period based on the expected number of awards to vest using fair values per share of between $49.36 and $53.47. Stock-based compensation expense related to 2021 PSU modification was $4 million for the year ended December 31, 2023.

The aggregate intrinsic value of the stock options and SSARs is the total pre-tax intrinsic value (the difference between our closing stock price on the last trading day of a fiscal year and the exercise price, multiplied by the number of in-the-money options and SSARs) that would have been received by the holders had all holders exercised their awards on the last day of such fiscal year. This amount changes based on the market value of our stock, as reported by the New York Stock Exchange. The intrinsic value of SSARs and stock options exercised in the years ended December 31, 2023, 2022, and 2021 was $3 million, $4 million, and $8 million, respectively.

The total fair value of awards vested during the years ended December 31, 2023, 2022, and 2021, was $31 million, $42 million, and $20 million, respectively.

Share Repurchases

On May 4, 2021, our Board of Directors authorized a share repurchase program (First 2021 Share Repurchase Program) under which we had the ability to repurchase shares of our common stock totaling up to $1 billion. On November 2, 2021, our Board of Directors authorized an additional share repurchase plan under which we had the ability to repurchase shares of our common stock totaling up to $500 million (Second 2021 Share Repurchase Program).

On May 3, 2022, we announced that our Board of Directors authorized a share repurchase program (2022 Share Repurchase Program) under which we may repurchase shares of our common stock totaling up to $600 million.

During 2021, we paid $1.3 billion to repurchase approximately 21 million shares of our common stock at an average price of $61.52 per share through market purchases. During 2022, we paid $900 million to repurchase approximately 14 million shares of our common stock through market purchases at an average price of $62.37 per share. No purchases were made under the 2022 Share Repurchase Program during 2023.

There are no amounts remaining under the First 2021 Share Repurchase Program or the Second 2021 Share Repurchase Program as of December 31, 2023. There is $200 million remaining under the 2022 Share Repurchase Program as of December 31, 2023.

Employee Stock Purchase Plan

Our employee stock purchase plan (ESPP) provides our participating employees an opportunity to obtain shares of our common stock at a discount (through payroll deductions over six-month periods). At December 31, 2023, two million shares of common stock were reserved for issuance under the ESPP.

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 222.0	$ 369.0
Receivables, net of allowance for doubtful accounts of $2 million at December 31, 2023, and $1 million at December 31, 2022, respectively	155.0	127.0
Inventories	378.0	337.0
Prepaid expenses and other current assets	23.0	20.0
Total current assets	778.0	854.0
Timber and timberlands	32.0	40.0
Property, plant and equipment, net	1,540.0	1,326.0
Operating lease assets	25.0	44.0
Goodwill and other intangible assets	27.0	36.0
Investments in and advances to affiliates	5.0	6.0
Restricted cash	0.0	14.0
Other assets	20.0	24.0
Deferred tax assets	11.0	7.0
Total assets	2,437.0	2,350.0
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	254.0	317.0
Income taxes payable	5.0	19.0
Current portion of contingency reserves	1.0	1.0
Total current liabilities	259.0	336.0
Long-term debt, excluding current portion	347.0	346.0
Deferred income taxes	162.0	113.0
Non-current operating lease liabilities	25.0	41.0
Contingency reserves, excluding current portion	25.0	26.0
Other long-term liabilities	61.0	53.0
Liabilities	$ 880.0	$ 916.0
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Shares Authorized	15,000,000
Common Stock, Par or Stated Value Per Share	$ 1
Common Stock, Shares, Outstanding	72,155,979
Common Stock, Shares, Issued	87,986,865	71,748,200
Common Stock, Shares Authorized	200,000,000	87,986,865
Stockholders' equity:
Preferred stock, $1 par value, 15,000,000 shares authorized, no shares issued	$ 0.0	$ 0.0
Common stock, $1 par value; 200,000,000 shares authorized; 87,986,865 shares issued, and 72,155,979 shares issued and outstanding, respectively, as of December 31, 2023; 87,986,865 shares issued and 71,748,200 shares issued and outstanding, respectively, as of December 31, 2022	88.0	88.0
Additional paid-in capital	465.0	462.0
Retained earnings	1,479.0	1,371.0
Treasury stock, 15,830,886 shares and 16,238,665 shares, at cost as of December 31, 2023 and 2022, respectively	(386.0)	(388.0)
Accumulated comprehensive loss	(89.0)	(99.0)
Total stockholders' equity	1,557.0	1,433.0
Total liabilities and stockholders' equity	$ 2,437.0	$ 2,350.0

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the financial results of the EWP segment (dollars in millions):


	December 31,
	20221		2021
Net sales	$	455	$	638
Cost of sales	(355)		(531)
Gross profit	101		107
Selling, general, and administrative expenses	(10)		(18)
Other operating credits and charges, net	—		—
Income from operations of discontinued operations	91		90
Other non-operating items	—		5
Gain on disposal before income taxes	158		—
Income from discontinued operations before income taxes	249		95
Provision for income taxes	(51)		(24)
Income from discontinued operations, net of income taxes	$	198	$	71

The following summarizes the total cash provided by operations and total cash used for investing activities related to the EWP segment and included in the Consolidated Statements of Cash Flows (dollars in millions):


	2022		2021
Net cash provided by discontinued operating activities	$	16	$	71
Net cash provided by (used in) discontinued investing activities	$	261	$	(6)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
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-Section 50
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-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 20
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3

+ Details

Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations [Text Block]

DISCONTINUED OPERATIONS

Engineered Wood Products (EWP)

In March 2022, the Company sold its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc. for $59 million. The total net carrying value of our equity method investment at the date of sale was $19 million, and the Company recognized a gain associated with the sale of $39 million within Income from discontinued operations, net of income taxes in the Consolidated Statements of Income.

On August 1, 2022, the Company completed the sale of the assets related to the EWP segment. As a result of the sale, the Company received $217 million in gross cash proceeds after taking into account working capital adjustments. The Company paid $12 million in direct transaction costs, resulting in net proceeds of $205 million. The net carrying value of the EWP assets at the time of sale was $87 million, which resulted in a pre-tax gain of approximately $118 million within Income from discontinued operations, net of income taxes in the Consolidated Statements of Income.

Upon closing, the Company entered into a transition services agreement, pursuant to which the Company agreed to support the various activities of the EWP segment, which concluded during the year ended December 31, 2023.

The Company has classified the results of its EWP segment as discontinued operations in its Consolidated Statements of Income for the prior periods presented.

The following table presents the financial results of the EWP segment (dollars in millions):


	December 31,
	20221		2021
Net sales	$	455	$	638
Cost of sales	(355)		(531)
Gross profit	101		107
Selling, general, and administrative expenses	(10)		(18)
Other operating credits and charges, net	—		—
Income from operations of discontinued operations	91		90
Other non-operating items	—		5
Gain on disposal before income taxes	158		—
Income from discontinued operations before income taxes	249		95
Provision for income taxes	(51)		(24)
Income from discontinued operations, net of income taxes	$	198	$	71

1 Reflects operating results through August 1, 2022, when the assets related to the EWP segment were sold.


	2022		2021
Net cash provided by discontinued operating activities	$	16	$	71
Net cash provided by (used in) discontinued investing activities	$	261	$	(6)

Net cash provided by discontinued investing activities for the year ended December 31, 2022, included $59 million of proceeds from the sale of our 50% equity interest in two joint ventures that produced I-joists and $205 million of net proceeds from the sale of the EWP segment assets. Capital expenditures for discontinued operations totaled $3 million and $6 million for the years ended December 31, 2022 and 2021, respectively. Included in net cash provided by discontinued operating activities is depreciation and amortization of $3 million and $5 million for the years ended December 31, 2022 and 2021, respectively.

Long-term Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term Debt

LONG-TERM DEBT


		December 31, 2023						December 31, 2022
(Dollars in millions)	Interest Rate	Principal		Unamortized Debt Costs		Total		Principal		Unamortized Debt Costs		Total
Debentures:
Senior unsecured notes, maturing 2029, interest rates fixed	3.625%	$	350	$	(3)	$	347	$	350	$	(4)	$	346
Amended Credit Facility, maturing 2028, interest rates variable	varies	—		—		—		—		—		—


Total		350		(3)		347		350		(4)		346
Less: current portion		—				—		—				—
Long-term portion		$	350	$	(3)	$	347	$	350	$	(4)	$	346

Senior Notes

Credit Facilities

As of December 31, 2023, we were in compliance with all financial covenants under the 2029 Senior Notes, the Credit Agreement and the Letter of Credit Facility.


Years ending December 31,
2024	$	—
2025	—
2026	—
2027	—
2028	—
2029 and thereafter	350
Total	$	350

Revenue Recognition and Deferred Revenue (Policies)	12 Months Ended
Revenue Recognition and Deferred Revenue (Policies)	Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Revenue	Revenue is recognized when obligations under the terms of a contract (e.g., purchase orders) with our customers are satisfied; generally, this occurs with the transfer of control of our products at a point in time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The shipping cost incurred by us to deliver products to our customers is recorded in Cost of sales. The expected costs associated with our warranties continue to be recognized as an expense when the products are sold.

Stockholders' Equity Share Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Share repurchase program, open market	0	14,000,000	21,000,000
Share repurchase program, open market, average price per share		$ 62.37	$ 61.52
Share repurchase program, remaining authorized repurchase amount	$ 200
Treasury Stock, Value, Acquired, Cost Method	$ 0	$ 900	$ 1,300
Share Repurchase Program, Open Market, Value		$ 900	$ 1,300

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

We operate in three segments: Siding, OSB, and LPSA. Our business units have been aggregated into these three segments based upon the similarity of economic characteristics, customers, and distribution methods. Our results of operations are summarized below for each of these segments separately as well as for the “Other” category, which comprises other products that are not individually significant.

•Our Siding segment serves diverse end markets with a broad product offering, including LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions™ (collectively referred to as Siding Solutions). Our Siding Solutions products consist of a full line of engineered wood siding, trim, soffit, and fascia.

•Our OSB segment manufactures and distributes OSB structural panel products, including the innovative value-added OSB product portfolio known as LP® Structural Solutions (which includes LP TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP NovaCore® Thermal Insulated Sheathing, LP FlameBlock® Fire-Rated Sheathing, and LP TopNotch® 350 Durable Sub-Flooring). OSB is manufactured using wood strands arranged in layers and bonded with resins.

•Our LPSA segment manufactures and distributes LP OSB structural panel and Siding Solutions products in South America and certain export markets. This segment also sells and distributes a variety of companion products to support the region’s transition to wood frame construction. The LPSA segment carries out manufacturing operations in Chile and Brazil and operates sales offices in Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, and Peru.

We evaluate the performance of our business segments based on net sales and segment Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on net sales and segment Adjusted EBITDA for our business segments. Segment Adjusted EBITDA is defined as income attributed to LP before interest expense, provision for income taxes, depreciation and amortization, and excludes stock-based compensation expense, loss on impairment attributed to LP, product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, pension settlement charges, and other non-operating items.

During the year ended December 31, 2023, we updated our definitions of Adjusted EBITDA, Adjusted Income, and Adjusted Diluted EPS to exclude other business exit charges not classified as discontinued operations. Business exit charges consist of inventory and other asset impairment and exit charges related to the exit of other businesses not individually significant. We consider business exit charges to be outside the performance of our ongoing core business operations and believe that presenting Adjusted EBITDA, Adjusted Income, and Adjusted Diluted EPS excluding business exit charges provides increased transparency as to the operating costs of our current business performance. We did not revise prior years’ Adjusted EBITDA, Adjusted Income, and Adjusted Diluted EPS amounts because there were no significant costs similar in nature to these items.

Information about our product segments is as follows (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
NET SALES BY BUSINESS SEGMENT
Siding	$	1,328	$	1,469	$	1,170
OSB	1,026		2,062		2,387
LPSA	205		241		265
Other	22		84		95
Intersegment Sales	—		(2)		(3)
Total sales	$	2,581	$	3,854	$	3,915
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	178	$	1,083	$	1,373
Add (deduct):
Net loss attributed to non-controlling interest	—		3		4
Income from discontinued operations, net of income taxes	—		(198)		(71)
Income attributed to LP from continuing operations	178		888		1,306
Provision for income taxes	74		274		402
Depreciation and amortization	119		129		114
Stock-based compensation expense	13		19		16
Loss on impairment attributed to LP	6		1		5
Other operating credits and charges, net	18		(16)		(1)
Business exit charges	32		—		—
Pension settlement charges	4		82		2
Interest expense	14		11		14
Investment income	(18)		(14)		(1)
Loss on early debt extinguishment	—		—		11
Other non-operating items	39		15		9
Adjusted EBITDA	$	478	$	1,389	$	1,877
SEGMENT ADJUSTED EBITDA
Siding	$	269	$	339	$	289
OSB	220		1,034		1,531
LPSA	42		77		113
Other	(17)		(23)		(20)
Corporate	(36)		(38)		(36)
Adjusted EBITDA	$	478	$	1,389	$	1,877


	Year Ended December 31,
	2023		2022		2021
Depreciation and Amortization
Siding	$	67	$	46	$	34
OSB	43		71		69
LPSA	7		8		8
Other	2		4		4
Non-segment related	—		—		—
Total depreciation and amortization	$	119	$	129	$	114

Capital Expenditures
Siding	$	212	$	316	$	177
OSB	59		53		47
LPSA	19		20		20
Other	—		1		2
Non-segment related	10		21		4
Total capital expenditures	$	300	$	412	$	250

Information concerning identifiable assets by segment is as follows (dollars in millions):


	December 31,
	2023		2022
Identifiable Assets
Siding	$	1,291	$	1,045
OSB	526		491
LPSA	165		151
Other	11		74

Non-segment related	444		589
Total assets	$	2,437	$	2,350

Non-segment related assets include cash and cash equivalents, short-term and long-term investments, corporate assets, and other items.

Information concerning our geographic segments is as follows (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
GEOGRAPHIC LOCATIONS
Total Sales—Point of origin
U.S.	$	2,265	$	3,329	$	3,354
Canada	610		827		613
LPSA	241		273		291
Intercompany sales	(535)		(575)		(344)
Total Sales	$	2,581	$	3,854	$	3,915
Operating profit (loss)
U.S.	$	304	$	1,084	$	1,567
Canada	40		129		112
LPSA	35		70		106
Other operating credits and charges, net and loss on impairments of assets	(49)		15		(5)
General corporate expense, loss on early debt extinguishment, other income (expense), interest, net and equity in unconsolidated affiliates	(78)		(139)		(77)
Income before income taxes, including equity in unconsolidated affiliates	252		1,159		1,704
Provision for income taxes	(74)		(274)		(402)
Income from continuing operations	$	178	$	885	$	1,302
Loss attributed to noncontrolling interest	—		3		4
Income attributed to LP from continuing operations	$	178	$	888	$	1,306

IDENTIFIABLE TANGIBLE LONG LIVED ASSETS
U.S.	$	996	$	939	$	671
Canada	472		356		359
South America	104		87		75
Total assets	$	1,572	$	1,382	$	1,106

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Retirement Plans and Post Retirement Benefits Defined Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	$ 0	$ 4	$ 5
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax, Total	(4)	(71)	(5)
Defined Benefit Plan, Plan Assets, Contributions by Employer		5
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(2)	(247)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	0	5	(1)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	4	62	2
Defined Benefit Plan, Plan Assets, Payment for Settlement	2	247
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Expected Gain (Loss) Due to Settlement and Curtailment	6
Loss due to settlement	$ (4)	$ (82)	$ (2)

Summary of Significant Accounting Policies Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total depreciation and amortization	$ 115	$ 124	$ 109
Selling, General and Administrative Expenses
Total depreciation and amortization	4	4	2
Cost of Sales
Total depreciation and amortization	$ 111	$ 121	$ 107

Product Warranty (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The activity in warranty reserves is summarized in the following table (dollars in millions):


	Year Ended December 31,
	2023		2022
Beginning balance	$	8	$	7
Accrued to expense during the year	2		3
Reduced to other operating credits and charges	(1)		—
Payments made	(2)		(3)
Total warranty reserves	8		8
Current portion of warranty reserves	(2)		(2)
Long-term portion of warranty reserves	$	6	$	6

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The components of income from continuing operations before income taxes, including equity in unconsolidated affiliates, were (dollars in millions):


	Years Ended December 31,
	2023		2022		2021
Domestic	$	207	$	961	$	1,491
Foreign	45		198		212
Total	$	252	$	1,159	$	1,704

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of our income tax provision (benefit) from continuing operations were (dollars in millions):


	Years Ended December 31,
	2023		2022		2021
Current tax provision (benefit):
U.S. federal	$	17	$	180	$	284
State and local	(1)		51		56
Foreign	14		42		56
Net current tax provision	30		273		396
Deferred tax provision (benefit):
U.S. federal	22		(1)		2
State and local	1		(4)		—
Foreign	21		12		4
Net valuation allowance increase (decrease)	—		(6)		—
Net deferred tax provision	44		1		6
Total income tax provision	$	74	$	274	$	402

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of significant temporary differences creating deferred tax assets and liabilities were (dollars in millions):


	December 31,
	2023		2022
Deferred tax assets:
Accrued liabilities	$	21	$	20
Research expenditures	19		14
Inventories	14		9
Benefit relating to capital loss, NOL carryforward, and credit carryforwards	10		6
Operating lease liabilities	8		7
Deferred revenue	3		3
Other deferred tax assets	11		15
Total deferred tax assets	86		74
Valuation allowance	(4)		(4)
Total deferred tax asset after valuation allowance	82		70
Deferred tax liabilities:
Property, plant, and equipment	(188)		(152)
Unremitted foreign earnings	(21)		—
Operating lease assets	(8)		(7)
Investment in Entekra	(7)		(7)
Timber and timberlands	(6)		(7)
Other deferred tax liabilities	(4)		(3)
Total deferred tax liabilities	(234)		(176)
Net deferred tax liabilities	$	(152)	$	(106)

Balance sheet classification:
Long-term deferred tax asset	$	11	$	7
Long-term deferred tax liability	(162)		(113)
Net deferred tax liabilities	$	(152)	$	(106)

Summary of Tax Credit Carryforwards [Table Text Block]

The benefit relating to capital loss, operating loss, and credit carryforwards included in the above table at December 31, 2023, consisted of (dollars in millions):


	Operating Loss		Benefit Amount		Valuation Allowance		Expiration Beginning in
Argentina operating loss carryforwards	$	8	$	3	$	—	2028
Canadian capital loss carryforwards	—		4		(4)		No expiration
Chile operating loss carryforwards	4		1		—		No expiration
State credit carryforwards	—		2		—		2034
Total	$	12	$	10	$	(4)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation of the U.S. federal statutory tax rate to the total effective tax rates from continuing operations (dollars in millions):


	Years Ended December 31,
	2023				2022				2021
	Amount ($)		Percent (%)		Amount ($)		Percent (%)		Amount ($)		Percent (%)
U.S. Federal tax rate	$	53	21	%	$	243	21	%	$	358	21	%
State and local income taxes	8		3		34		3		43		3
Effect of foreign tax rates	3		1		9		1		16		1
Uncertain tax positions	7		3		(2)		—		(1)		—
Unremitted foreign earnings	25		10		—		—		—		—
Non deductible compensation	6		2		6		—		3		—
Tax credits	(5)		(2)		(4)		—		(4)		—
Prior year changes in tax laws and positions	(9)		(3)		—		—		—		—
Revisions to prior year estimates	(7)		(3)		2		—		(3)		—
Other items, net	(7)		(3)		(14)		(1)		(10)		(1)
Provision for income taxes	$	74	29	%	$	274	24	%	$	402	24	%

Summary of Income Tax Contingencies [Table Text Block]

Tabular reconciliation of the total amount of unrecognized tax benefits at the beginning and end of the years (dollars in millions):


	December 31,
	2023		2022		2021
Beginning balance	$	6	$	9	$	11
Increases:
Tax positions taken in current year	1		1		1
Tax positions taken in prior years	6		—		—
Decreases:



Lapse of statute in current year	—		(4)		(3)
Ending balance	$	13	$	6	$	9

Segment Information Geographic Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	$ 2,581	$ 3,854	$ 3,915
Operating Income (Loss)	287	1,250	1,734
Other operating credits and charges, net and loss on impairments of assets	(49)	15	(5)
General corporate expense, loss on early debt extinguishment, other income (expense), interest, net and equity in unconsolidated affiliates	(78)	(139)	(77)
Income (loss) from continuing operations before income taxes, extraordinary items, noncontrolling interest	252	1,159	1,704
Provision for income taxes	(74)	(274)	(402)
Income from continuing operations	178	885	1,302
Net Income (Loss) Attributable to Noncontrolling Interest	0	(3)	(4)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	178	888	1,306
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	1,572	1,382	1,106
Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	0	2	3
UNITED STATES
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	2,265	3,329	3,354
Operating Income (Loss)	304	1,084	1,567
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	996	939	671
CANADA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	610	827	613
Operating Income (Loss)	40	129	112
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	472	356	359
South America
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	241	273	291
Operating Income (Loss)	35	70	106
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	104	87	75
Intersegment sales \| Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	$ (535)	$ (575)	$ (344)

Summary of Significant Accounting Policies Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Asset Impairment Charges	$ 0	$ 0
Other
Goodwill [Line Items]
Asset Impairment Charges			$ (5)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 178.0	$ 1,086.0	$ 1,377.0

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Stockholders' Equity ESPP (Details) shares in Millions	12 Months Ended
Stockholders' Equity ESPP (Details) shares in Millions	Dec. 31, 2023 shares
Equity [Abstract]
Shares available for grant, Employee Stock Purchase Plan	2,000,000
ESPP Purchase Period	6 months

Summary of Significant Accounting Policies Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory [Line Items]
Inventory Adjustments	$ (7)	$ (22)
Logs	81	59
Other raw materials	53	72
Semi-finished inventory	27	25
Finished products	217	180
Total Inventories	$ 378	$ 337

Label	Element	Value
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 0.16
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 0.18

Summary of Stock Awards Oustanding (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 31.0	$ 42.0	$ 20.0
Options and Ssars [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	140,711	182,989
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 17.50	$ 17.59
Options / SSARs granted	0
Options / SSARs exercised	(42,278)
Options / SSARs cancelled	0
Options/ SSARs forfeited	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 17.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 0
Options / SSARs exercisable	140,711
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	140,711
SSARs granted Weighted Average Exercise Price	$ 0
Options / SSARs cancelled Weighted Average Exercise Price	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price	$ 17.50
Unrecognized stock compensation	$ 0.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 17.87
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	0 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options / SSARs exercised	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	567,991	645,504
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 62.59	$ 48.49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	590,817
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 54.97
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(468,148)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 38.97
Unrecognized stock compensation	$ 10.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(200,182)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 62.60
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year

Accounting Policies (Policies)	12 Months Ended
Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Recent Pronouncements Not Yet Adpoted	Recent Pronouncements Not Yet Adopted Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, and an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This pronouncement is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and disclosures. Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. This pronouncement is effective for fiscal years beginning after December 15, 2024, with early adoption permitted.

Restructuring and Related Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Inventory Write-down	$ 7
Other Restructuring Costs	1
Business exit charges	$ 32	$ 0	$ 0

Committments and Contingent Liabilities (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Loss Contingency Accrual		$ 26	$ 27
Loss Contingency Accrual, Period Increase (Decrease)		0	(2)
Loss Contingency, Accrual, Current		1	1
Loss Contingency, Accrual, Noncurrent		25	26
Litigation Settlement, Amount Awarded to Other Party	$ 16
Settled Litigation
Loss Contingencies [Line Items]
Loss Contingency, Accrual, Current		8
SEC Schedule, 12-09, Reserve, Environmental Cost [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual		26	27	$ 25
Loss Contingency Accrual, Period Increase (Decrease)		0	(2)
Payments for Environmental Liabilities		1	2
Hardboard Siding Reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual		0	0
Environmental Reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual		$ 26	$ 27

Other Operating Credits and Charges, Net Non-Operating Income and Expense (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Expense		$ 17,000,000	$ 14,000,000	$ 15,000,000
Amortization of financing costs and discounts		1,000,000	1,000,000	2,000,000
Interest Costs Capitalized Adjustment		4,000,000	5,000,000	3,000,000
Interest expense, net of capitalized interest		(14,000,000)	(11,000,000)	(14,000,000)
Investment Income, Interest and Dividend		18,000,000	14,000,000	1,000,000
Investment income		18,000,000	14,000,000	1,000,000
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component		0	6,000,000	1,000,000
Foreign Currency Transaction Gain (Loss), Realized		40,000,000	11,000,000	8,000,000
Loss on early debt extinguishment		0	0	11,000,000
Loss due to settlement		(4,000,000)	(82,000,000)	(2,000,000)
Gain on Acquisition		1,000,000		0
Other nonoperating items		(43,000,000)	(97,000,000)	(22,000,000)
Redemption Premium				9,000,000
Write off of deferred debt issuance cost				2,000,000
Severance Costs		8,000,000	7,000,000	1,000,000
Insurance and environmental recoveries		0	2,000,000	4,000,000
Proceeds from Insurance Settlement, Operating Activities		0	$ 15,000,000	$ 4,000,000
Argentina, Pesos
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Foreign Currency Transaction Gain (Loss), Realized		$ (32,000,000)
Entekra [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gain on Acquisition	$ 2,000,000

Retirement Plans and Post Retirement Benefits Funded Status, Assumptions Used in Benefit Obligations and Amounts Recognized in Balance Sheets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	$ 3	$ 301
Service cost	1	3	$ 1
Interest cost	0	7	7
Actuarial (gain)/loss	0	(47)
Foreign exchange rate changes	0	(2)
Benefits Paid	0
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(2)	(247)
End of year balance	2	3	301
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	6	296
Actual return on plan assets	(1)	(33)
Employer contribution	(2)	5
Foreign exchange rate changes	0	(2)
Fair value of plan assets, end of year balance	0	6	296
Funded status	(2)	2
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	(1)	(1)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax	0	(6)
Total	(1)	(6)
Amounts Recognized in Balance Sheet [Abstract]
Noncurrent pension assets, included in “Other assets”	0	4
Current pension liabilities, included in “Accounts payable and accrued liabilities”	0	0
Noncurrent pension liabilities, included in “Other long-term liabilities”	(2)	(2)
Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Benefits Paid	0	13
Defined Benefit Plan, Plan Assets, Payment for Settlement	(2)	(247)
Total amounts recognized in other comprehensive income	(4)	(71)	(5)
Amortization of amounts included in net periodic benefit cost	0	1	5
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Amortization of amounts included in net periodic benefit cost	0	0	$ 5
Defined Benefit, US Plans [Member]
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	2
End of year balance	1	2
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	1
Fair value of plan assets, end of year balance	0	1
Funded status	(1)	$ 0
Weighted average assumptions for obligations as of measurement date [Abstract]
Discount rate		2.30%
Defined Benefit, Canadian Plans [Member]
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	2
End of year balance	1	$ 2
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	4
Fair value of plan assets, end of year balance	0	4
Funded status	$ (1)	$ 3
Weighted average assumptions for obligations as of measurement date [Abstract]
Discount rate		3.80%

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

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 (dollars and shares in millions):


	Year Ended December 31,
	2023		2022		2021
Income from continuing operations	$	178	$	885	$	1,302
Net loss attributed to non-controlling interest	—		3		4
Income attributed to LP from continuing operations	178		888		1,306
Income from discontinued operations, net of income taxes	—		198		71
Net income attributed to LP	$	178	$	1,086	$	1,377

Weighted average common shares outstanding - basic	72		78		97
Dilutive effect of employee stock plans	—		—		1
Shares used for diluted earnings per share	72		78		98

Net income attributed to LP per share - basic:
Continuing operations	$	2.47	$	11.40	$	13.46
Discontinued operations	—		2.54		0.73
Net income attributed to LP per share - basic	$	2.47	$	13.94	$	14.19

Net income attributed to LP per share – diluted:
Continuing operations	$	2.46	$	11.34	$	13.37
Discontinued operations	—		2.52		0.73
Net income attributed to LP per share - diluted	$	2.46	$	13.87	$	14.09

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Product Warranty

12 Months Ended

Dec. 31, 2023

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 is summarized in the following table (dollars in millions):


	Year Ended December 31,
	2023		2022
Beginning balance	$	8	$	7
Accrued to expense during the year	2		3
Reduced to other operating credits and charges	(1)		—
Payments made	(2)		(3)
Total warranty reserves	8		8
Current portion of warranty reserves	(2)		(2)
Long-term portion of warranty reserves	$	6	$	6

The current portion of the warranty reserve is included in accounts payable and accrued liabilities, and the long-term portion is included in other long-term liabilities on our Consolidated Balance Sheets.

We believe that the warranty reserve balances at December 31, 2023 are adequate to cover future warranty payments. However, it is possible that additional charges may be required.

Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 03, 2022	Nov. 02, 2021	May 04, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, open market	0	14,000,000	21,000,000
Share repurchase program, open market, average price per share		$ 62.37	$ 61.52
Share repurchase program, remaining authorized repurchase amount	$ 200
First 2021 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount						$ 1,000
Second 2021 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 500
2022 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 600

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accumulated Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	$ 1	$ 23	$ 2
Accumulated comprehensive loss, net of tax, beginning of period	(89)	(99)	(174)	$ (151)
Amortization of amounts included in net periodic benefit cost	0	1	5
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	(6)	(2)	28
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	4	71	0
Accumulated comprehensive loss, net of tax, end of period	(89)	(99)	(174)	(151)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	0	(5)	(76)	(81)
Amortization of amounts included in net periodic benefit cost	0	0	5
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	4	71	0
Accumulated comprehensive loss, net of tax, end of period	0	(5)	(76)	(81)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	(89)	(94)	(96)	(68)
Amortization of amounts included in net periodic benefit cost	0	0	0
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	(6)	(2)	28
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0
Accumulated comprehensive loss, net of tax, end of period	(89)	(94)	(96)	(68)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	0	0	(1)	(2)
Amortization of amounts included in net periodic benefit cost	0	1	0
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0
Accumulated comprehensive loss, net of tax, end of period	$ 0	$ 0	$ (1)	$ (2)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Other Operating Credits and Charges, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain Contingencies [Line Items]
Reorganization charges	$ (8,000,000)	$ (7,000,000)	$ (1,000,000)
Insurance and environmental recoveries	0	(2,000,000)	(4,000,000)
Product liability settlement	0	8,000,000	0
Gain (loss) on asset sales	6,000,000	(1,000,000)	(2,000,000)
Other Income	(1,000,000)	2,000,000	3,000,000
Other operating credits and charges, net	(19,000,000)	16,000,000	1,000,000
Proceeds from Insurance Settlement, Operating Activities	0	15,000,000	4,000,000
Legal Fees	$ (16,000,000)	$ 0	$ 0

Accumulated Comprehensive Loss

12 Months Ended

Dec. 31, 2023

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

Other Comprehensive Income (Loss), Net of Tax

ACCUMULATED COMPREHENSIVE LOSS

Accumulated comprehensive loss includes cumulative translation adjustments, unrealized gains (losses) on certain financial instruments, and pension and post-retirement adjustments. Other comprehensive income activity, net of tax, is provided in the following table (dollars in millions):


	Pension		Translation Adjustments		Other		Total
Balance at December 31, 2020	$	(81)	$	(68)	$	(2)	$	(151)

Reclassified to income statement, net of taxes1	5		—		—		5
Pension settlement loss, net of taxes	—		—		—		—
Translation adjustments	—		(28)		—		(28)
Balance at December 31, 2021	(76)		(96)		(1)		(174)

Reclassified to income statement, net of taxes1	—		—		1		1
Pension settlement loss, net of taxes	71		—		—		71
Translation adjustments	—		2		—		2
Balance at December 31, 2022	(5)		(94)		—		(99)

Reclassified to income statement, net of taxes1	—		—		—		—
Pension settlement loss, net of taxes	4		—		—		4
Translation adjustments	—		6		—		6
Balance at December 31, 2023	$	—	$	(89)	$	—	$	(89)

1 Amounts of actuarial loss and prior service cost are components of net periodic benefit cost. See "Note 16 - Retirement Plans and Post-Retirement Benefits" above for additional details.

Foreign translation adjustments exclude income tax expense (benefit) given that there are no deferred tax assets or liabilities recorded on outside basis differences on the foreign subsidiaries to which the currency translation losses relates and consequently the translation adjustments will not trigger an incremental U.S. tax effect. The pension amounts reclassified from Accumulated comprehensive loss included an income tax provision of $1 million, $23 million, and $2 million in 2023, 2022, and 2021, respectively.

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 178	$ 1,083	$ 1,373
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	6	2	(28)
Unrealized Gain on Securities	0	0	0
Total amounts recognized in other comprehensive income	(4)	(71)	(5)
Other	0	1	0
Other comprehensive income (loss), net of tax	10	75	(23)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	187	1,158	1,350
Net loss attributed to noncontrolling interest	0	3	4
Comprehensive income	$ 187	$ 1,161	$ 1,354

Income Taxes NOL and credit carryovers (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 10.0	$ 6.0
Federal NOL carryover valuation allowance	(4.0)
Federal NOL carryover	10.0
Operating Loss Carryforwards	12.0
State Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Federal NOL carryover valuation allowance	0.0
Federal NOL carryover	2.0
Operating Loss Carryforwards	0.0
Canadian Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	(4.0)
Federal NOL carryover	4.0
Operating Loss Carryforwards	0.0
Chile Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	0.0
Federal NOL carryover	1.0
Operating Loss Carryforwards	4.0
Argentina Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	0.0
Federal NOL carryover	3.0
Operating Loss Carryforwards	$ 8.0

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 2,581.0	$ 3,854.0	$ 3,915.0
Operating costs and expenses:
Cost of sales	(1,988.0)	(2,355.0)	(1,952.0)
Gross Profit	593.0	1,498.0	1,963.0
Selling, general, and administrative expenses	(257.0)	(264.0)	(223.0)
Loss on impairments	(30.0)	(1.0)	(6.0)
Other operating credits and charges, net	(19.0)	16.0	1.0
Income from operations	287.0	1,250.0	1,734.0
Non-operating income (expense):
Interest (expense) income	14.0	11.0	14.0
Investment Income, Net	18.0	14.0	1.0
Other nonoperating items	(43.0)	(97.0)	(22.0)
Income before income taxes	248.0	1,155.0	1,700.0
Provision for income taxes	(74.0)	(274.0)	(402.0)
Equity in unconsolidated affiliate	3.0	4.0	4.0
Income from continuing operations	178.0	885.0	1,302.0
Income from discontinued operations, net of income taxes	0.0	198.0	71.0
Net income	178.0	1,083.0	1,373.0
Net loss attributed to noncontrolling interest	0.0	3.0	4.0
Net income attributed to LP	$ 178.0	$ 1,086.0	$ 1,377.0
Basic net income (loss) per share:
Net income per share - diluted	$ 2.47	$ 13.94	$ 14.19
Diluted net earnings (loss) per share:
Net income per share - diluted	$ 2.46	$ 13.87	$ 14.09
Weighted average number of shares outstanding - basic	72	78	97
Weighted average number of shares outstanding, diluted	72	78	98

Other Operating Credits and Charges, Net

12 Months Ended

Dec. 31, 2022

Other Operating Credits And Charges, Net [Abstract]

Other Operating Credits And Charges Net [Text Block}

OTHER OPERATING AND NON-OPERATING INCOME (EXPENSE)

Other operating credits and charges, net


	Year Ended December 31,
	2023		2022		2021
Insurance recoveries	$	—	$	15	$	4
Legal settlement	(16)		—		—
Reorganization charges	(8)		(7)		(1)


Environment costs	—		(2)		(4)
Product liability settlement	—		8		—
Gain (loss) on asset sales	6		(1)		(2)
Other	(1)		2		3
	$	(19)	$	16	$	1

During 2023, we agreed to pay $16 million to resolve certain patent-related claims and to obtain certain patent rights. We incurred severance and other charges of $8 million related to certain reorganizations and recognized a $6 million gain on the sale of assets.

During 2022, we received $15 million in insurance recoveries related to business interruption claims for weather-related downtime sustained in the prior year. We incurred severance and other charges of $7 million related to certain reorganizations and we recognized a charge of $2 million related to additional estimated environmental costs associated with a non-operating site.

During 2021, we recognized a charge of $4 million related to additional estimated environmental costs associated with a non-operating site. We incurred severance and other charges of $1 million related to certain reorganizations. Additionally, we received $4 million in insurance recoveries related to business interruption claims for weather-related downtime sustained in the prior year.

Non-operating income (expense)

Non-operating income (expense) is comprised of the following components (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Interest expense	$	(17)	$	(14)	$	(15)
Amortization of debt charges	(1)		(1)		(2)
Capitalized interest	4		5		3
Interest expense, net of capitalized interest	$	(14)	$	(11)	$	(14)

Interest income	$	18	$	14	$	1


Investment income	$	18	$	14	$	1

Net periodic pension cost, excluding service cost	$	—	$	(6)	$	(1)
Foreign currency gains (losses), net	(40)		(11)		(8)
Loss on early debt extinguishment	—		—		(11)
Pension settlement charges	(4)		(82)		(2)
Other	1		2		—
Other non-operating items	$	(43)	$	(97)	$	(22)

During 2023, we completed the termination of our U.S. and Canadian defined benefit pension plans resulting in the recognition of non-cash, pre-tax charges of $4 million. Additionally, we recognized $40 million of foreign currency losses primarily driven by $32 million of transactional losses on the Argentine peso.

During 2022, we recognized $82 million of pension settlement expense related to a portion of the unrecognized actuarial loss that was included in accumulated comprehensive loss.

During 2021, we recorded an early debt extinguishment charge of $11 million, which included $9 million of redemption premium and $2 million of unamortized debt costs associated with the early redemption of our Senior Notes due 2024. Additionally, we recognized $2 million of pension settlement expense related to a portion of the unrecognized actuarial loss.

Retirement Plans and Post Retirement Benefits Asset Allocation and Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Defined Benefit Plan, Plan Assets, Amount	$ 0	$ 6	$ 296

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Business Exit Charges

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Business Exit Charges

BUSINESS EXIT CHARGES

During the second quarter of 2023, we ceased the manufacturing operations of Entekra, an off-site framing operation previously reported within our “Other” category, which comprises other products that are not individually significant. Business exit charges were $32 million for year ended December 31, 2023, which consisted of the following (dollar amounts in millions):


	Year Ended December 31,
	2023
Impairment of property, plant and equipment, operating lease assets, and other intangible assets1	$	24
Restructuring and other related charges:
Inventory write-down2	7
Other expenses including personnel-related costs such as severance3	1
Total Business exit charges	$	32

1Included within impairment of long-lived assets, net on the Consolidated Income Statements.

2Included within cost of sales on the Consolidated Income Statements.

3Included within other operating credits and charges, net on the Consolidated Income Statements.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Nashville, Tennessee
Auditor Firm ID	34

Income Taxes Uncertain tax positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized Tax Benefits	$ 13	$ 6	$ 9	$ 11
Tax positions taken in current year	1	1	1
Tax positions taken in prior years	6	0	0
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	0	4	$ 3
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	13
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	2	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Paid	$ 0	$ 0

Summary of Significant Accounting Policies Property, Plant and Equipment (Details)
$ in Millions

12 Months Ended

Dec. 31, 2023

USD ($)

plant

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Property, Plant and Equipment [Line Items]

Land and Land Improvements

$ 212

$ 193

Buildings

493

428

Machinery and equipment

2,352

2,124

Construction in progress

236

253

Property, Plant and Equipment, Gross

3,293

2,998

Accumulated depreciation

(1,753)

(1,672)

Property, Plant and Equipment, Net

$ 1,540

1,326

Number of Plants Operated | plant

Intangible Assets, Net (Excluding Goodwill)

$ 32

$ 49

Significant Accounting Policies [Text Block]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

See "Note 18 - Segment Information" below for further information regarding our products and segments.

Basis of Presentation

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and short-term investments of three months or less when purchased. These investments are stated at cost, which approximates market value.

Receivables

Receivables consisted of the following (dollars in millions):


	December 31,
	2023		2022
Trade receivables	$	104	$	106
Income tax receivables	27		4


Other receivables	26		19
Allowance for doubtful accounts	(2)		(1)
Total Receivables	$	155	$	127

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other receivables at December 31, 2023 and 2022 primarily consisted of sales tax receivables, vendor rebates, and other miscellaneous receivables.

Fair Value Measurements

There are three levels of inputs that may be used to measure fair value:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Inventories

Inventories are valued at the lower of cost or net realizable value. Inventory costs include materials, labor, and operating overhead. The FIFO (first-in, first-out) or average cost methods are used to value our inventories as of December 31, 2023. Inventories include a lower of cost or market adjustment of $7 million and $22 million as of December 31, 2023, and 2022, respectively. Inventory consisted of the following (dollars in millions):


	December 31,
	2023		2022
Logs	$	81	$	59
Other raw materials	53		72
Semi-finished inventory	27		25
Finished products	217		180
Total Inventories	$	378	$	337

Timber and Timberlands

Property, Plant, and Equipment

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):


	December 31,
	2023		2022
Land, land improvements, and logging roads, net of road amortization	$	212	$	193
Buildings	493		428
Machinery and equipment	2,352		2,124
Construction in progress	236		253
	3,293		2,998
Accumulated depreciation	(1,753)		(1,672)
Property, plant, and equipment, net	$	1,540	$	1,326

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	111	$	121	$	107
Selling, general and administrative expenses	4		4		2
Total depreciation and amortization	$	115	$	124	$	109

Logging road construction costs are capitalized and included in land and land improvements. These costs are amortized as the timber volume adjacent to the road system is harvested.

Long-lived assets that are held for sale are written down to the estimated sales proceeds less cost to sell unless the estimated net proceeds exceed the carrying value.

Goodwill and Intangible Assets

Investments in Affiliates

Restricted Cash

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities were as follows (dollars in millions):


	December 31,
	2023		2022
Trade accounts payable	$	141	$	178
Salaries and wages payable	57		66
Accrued customer incentives	37		46
Taxes other than income taxes	3		10
Current portion of operating lease liabilities	6		8
Other accrued liabilities	10		9
Total Accounts payable and accrued liabilities	$	254	$	317

Other accrued liabilities at December 31, 2023 and 2022, primarily consisted of accrued interest, worker compensation liabilities, warranty reserves, and other items. Additionally, trade accounts payable included $15 million and $48 million related to capital expenditures that had not yet been paid as of December 31, 2023 and 2022, respectively.

Other Long-Term Liabilities

Other long-term liabilities were as follows (dollars in millions):


	December 31,
	2023		2022
Post-retirement obligations	$	7	$	7
Asset retirement obligations	8		8
Uncertain tax positions	15		7
Warranty reserves	6		6
Pension benefit obligation	2		1
Other	23		25
Total Other long-term liabilities	$	61	$	53

Other long-term liabilities at December 31, 2023 and 2022, consisted primarily of workers' compensation liabilities and investment tax incentives associated with property, plant, and equipment.

Asset Retirement Obligations


	Year Ended December 31,
	2023		2022
Beginning balance	$	8	$	8
Accretion expense	—		—
Adjusted to expense (cost of sales and other operating credits and charges, net)	—		(1)
Payments made	—		—
Ending balance	$	8	$	8

Income Taxes

We are subject to global intangible low-taxed income, an incremental tax on foreign income. We have made an accounting election to record this tax in the period the tax arises.

Stock-Based Compensation

Foreign Currency Translation

Advertising costs

Other Operating Credits and Charges, Net

Retirement Benefits

Comprehensive Income

Timber and Timberlands [Policy Text Block]

Timber and Timberlands

Licensing Agreements [Member]

Property, Plant and Equipment [Line Items]

Intangible Assets, Net (Excluding Goodwill)

$ 25

$ 30

Timber [Member]

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Gross

$ 7

$ 12

Timber [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Useful Life

20 years

Timber [Member] | Maximum

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Useful Life

25 years

Building | Minimum [Member]

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Useful Life

5 years

Building | Maximum

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Useful Life

20 years

Land Improvements | Minimum [Member]

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Useful Life

3 years

Land Improvements | Maximum

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Useful Life

15 years

Summary of Significant Accounting Policies Asset Retirement Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Entity Information [Line Items]
Asset Retirement Obligation	$ 8	$ 8	$ 8
Accretion Expense, Including Asset Retirement Obligations	0	0
Asset Retirement Obligation, Liabilities Incurred	0	(1)
Asset Retirement Obligation, Liabilities Settled	0	0
Advertising Expense	$ 25	$ 28	$ 24

Common Stock Plan (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Total stock-based compensation expense (cost of sales, selling, general and administrative, and other operating credits and charges, net)	$ 13	$ 19	$ 16
Income tax benefit related to stock-based compensation	2	8	3
Impact on cash flow due to taxes paid related to net share settlement of equity awards	(12)	$ (16)	$ (7)
Share repurchase program, remaining authorized repurchase amount	$ 200
Options and SSARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	4,000,000
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Stock Appreciation Rights (SARs)
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs) \| Share-based Payment Arrangement, Employee
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares \| Share-based Payment Arrangement, Employee
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

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

Information about our product segments is as follows (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
NET SALES BY BUSINESS SEGMENT
Siding	$	1,328	$	1,469	$	1,170
OSB	1,026		2,062		2,387
LPSA	205		241		265
Other	22		84		95
Intersegment Sales	—		(2)		(3)
Total sales	$	2,581	$	3,854	$	3,915
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	178	$	1,083	$	1,373
Add (deduct):
Net loss attributed to non-controlling interest	—		3		4
Income from discontinued operations, net of income taxes	—		(198)		(71)
Income attributed to LP from continuing operations	178		888		1,306
Provision for income taxes	74		274		402
Depreciation and amortization	119		129		114
Stock-based compensation expense	13		19		16
Loss on impairment attributed to LP	6		1		5
Other operating credits and charges, net	18		(16)		(1)
Business exit charges	32		—		—
Pension settlement charges	4		82		2
Interest expense	14		11		14
Investment income	(18)		(14)		(1)
Loss on early debt extinguishment	—		—		11
Other non-operating items	39		15		9
Adjusted EBITDA	$	478	$	1,389	$	1,877
SEGMENT ADJUSTED EBITDA
Siding	$	269	$	339	$	289
OSB	220		1,034		1,531
LPSA	42		77		113
Other	(17)		(23)		(20)
Corporate	(36)		(38)		(36)
Adjusted EBITDA	$	478	$	1,389	$	1,877


	Year Ended December 31,
	2023		2022		2021
Depreciation and Amortization
Siding	$	67	$	46	$	34
OSB	43		71		69
LPSA	7		8		8
Other	2		4		4
Non-segment related	—		—		—
Total depreciation and amortization	$	119	$	129	$	114

Capital Expenditures
Siding	$	212	$	316	$	177
OSB	59		53		47
LPSA	19		20		20
Other	—		1		2
Non-segment related	10		21		4
Total capital expenditures	$	300	$	412	$	250

Information concerning identifiable assets by segment is as follows (dollars in millions):


	December 31,
	2023		2022
Identifiable Assets
Siding	$	1,291	$	1,045
OSB	526		491
LPSA	165		151
Other	11		74

Non-segment related	444		589
Total assets	$	2,437	$	2,350

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

Information concerning our geographic segments is as follows (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
GEOGRAPHIC LOCATIONS
Total Sales—Point of origin
U.S.	$	2,265	$	3,329	$	3,354
Canada	610		827		613
LPSA	241		273		291
Intercompany sales	(535)		(575)		(344)
Total Sales	$	2,581	$	3,854	$	3,915
Operating profit (loss)
U.S.	$	304	$	1,084	$	1,567
Canada	40		129		112
LPSA	35		70		106
Other operating credits and charges, net and loss on impairments of assets	(49)		15		(5)
General corporate expense, loss on early debt extinguishment, other income (expense), interest, net and equity in unconsolidated affiliates	(78)		(139)		(77)
Income before income taxes, including equity in unconsolidated affiliates	252		1,159		1,704
Provision for income taxes	(74)		(274)		(402)
Income from continuing operations	$	178	$	885	$	1,302
Loss attributed to noncontrolling interest	—		3		4
Income attributed to LP from continuing operations	$	178	$	888	$	1,306

IDENTIFIABLE TANGIBLE LONG LIVED ASSETS
U.S.	$	996	$	939	$	671
Canada	472		356		359
South America	104		87		75
Total assets	$	1,572	$	1,382	$	1,106

Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2023

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Earnings Per Share [Text Block]

Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is based upon the weighted average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents (stock options, SSARs, restricted stock or units, and performance stock units) be excluded from the calculation of diluted earnings per share for the periods in which losses from continuing operations are reported because the effect is anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share (dollars and shares in millions):


	Year Ended December 31,
	2023		2022		2021
Income from continuing operations	$	178	$	885	$	1,302
Net loss attributed to non-controlling interest	—		3		4
Income attributed to LP from continuing operations	178		888		1,306
Income from discontinued operations, net of income taxes	—		198		71
Net income attributed to LP	$	178	$	1,086	$	1,377

Weighted average common shares outstanding - basic	72		78		97
Dilutive effect of employee stock plans	—		—		1
Shares used for diluted earnings per share	72		78		98

Net income attributed to LP per share - basic:
Continuing operations	$	2.47	$	11.40	$	13.46
Discontinued operations	—		2.54		0.73
Net income attributed to LP per share - basic	$	2.47	$	13.94	$	14.19

Net income attributed to LP per share – diluted:
Continuing operations	$	2.46	$	11.34	$	13.37
Discontinued operations	—		2.52		0.73
Net income attributed to LP per share - diluted	$	2.46	$	13.87	$	14.09

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Significant Accounting Policies [Text Block]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

See "Note 18 - Segment Information" below for further information regarding our products and segments.

Basis of Presentation

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and short-term investments of three months or less when purchased. These investments are stated at cost, which approximates market value.

Receivables

Receivables consisted of the following (dollars in millions):


	December 31,
	2023		2022
Trade receivables	$	104	$	106
Income tax receivables	27		4


Other receivables	26		19
Allowance for doubtful accounts	(2)		(1)
Total Receivables	$	155	$	127

Fair Value Measurements

There are three levels of inputs that may be used to measure fair value:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Inventories


	December 31,
	2023		2022
Logs	$	81	$	59
Other raw materials	53		72
Semi-finished inventory	27		25
Finished products	217		180
Total Inventories	$	378	$	337

Timber and Timberlands

Property, Plant, and Equipment

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):


	December 31,
	2023		2022
Land, land improvements, and logging roads, net of road amortization	$	212	$	193
Buildings	493		428
Machinery and equipment	2,352		2,124
Construction in progress	236		253
	3,293		2,998
Accumulated depreciation	(1,753)		(1,672)
Property, plant, and equipment, net	$	1,540	$	1,326

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	111	$	121	$	107
Selling, general and administrative expenses	4		4		2
Total depreciation and amortization	$	115	$	124	$	109

Logging road construction costs are capitalized and included in land and land improvements. These costs are amortized as the timber volume adjacent to the road system is harvested.

Long-lived assets that are held for sale are written down to the estimated sales proceeds less cost to sell unless the estimated net proceeds exceed the carrying value.

Goodwill and Intangible Assets

Investments in Affiliates

Restricted Cash

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities were as follows (dollars in millions):


	December 31,
	2023		2022
Trade accounts payable	$	141	$	178
Salaries and wages payable	57		66
Accrued customer incentives	37		46
Taxes other than income taxes	3		10
Current portion of operating lease liabilities	6		8
Other accrued liabilities	10		9
Total Accounts payable and accrued liabilities	$	254	$	317

Other Long-Term Liabilities

Other long-term liabilities were as follows (dollars in millions):


	December 31,
	2023		2022
Post-retirement obligations	$	7	$	7
Asset retirement obligations	8		8
Uncertain tax positions	15		7
Warranty reserves	6		6
Pension benefit obligation	2		1
Other	23		25
Total Other long-term liabilities	$	61	$	53

Other long-term liabilities at December 31, 2023 and 2022, consisted primarily of workers' compensation liabilities and investment tax incentives associated with property, plant, and equipment.

Asset Retirement Obligations


	Year Ended December 31,
	2023		2022
Beginning balance	$	8	$	8
Accretion expense	—		—
Adjusted to expense (cost of sales and other operating credits and charges, net)	—		(1)
Payments made	—		—
Ending balance	$	8	$	8

Income Taxes

We are subject to global intangible low-taxed income, an incremental tax on foreign income. We have made an accounting election to record this tax in the period the tax arises.

Stock-Based Compensation

Foreign Currency Translation

Advertising costs

Other Operating Credits and Charges, Net

Retirement Benefits

Comprehensive Income

Stockholders' Equity Preferred stock (Details)	Dec. 31, 2023 $ / shares shares
Class of Stock [Line Items]
Preferred Stock, Shares Authorized \| shares	15,000,000
Preferred Stock, Par or Stated Value Per Share \| $ / shares	$ 1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
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-Section 45
-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
-Subparagraph (SX 210.4-08(d))
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 13
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

Committments and Contingent Liabilities

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Contingencies Disclosure [Text Block]

CONTINGENCIES

We maintain reserves for various contingent liabilities as follows (dollars in millions):


	December 31,
	2023		2022
Environmental reserves	$	26	$	27
Other reserves	—		—
Total contingencies	26		27
Current portion*	(1)		(1)
Long-term portion	$	25	$	26

*The current portion of the contingency reserve is included in accounts payable and accrued liabilities on our Consolidated Balance Sheets.

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.

The activity in our reserve for estimated environmental loss contingency reserves is summarized in the following table (dollars in millions):


	Year Ended December 31,
	2023		2022
Beginning balance	$	27	$	25
Adjustments to expense during the year (other operating credits charges, net and cost of sales)	—		2
Adjustments to amounts to be paid by a third party	—		2
Payments made	(1)		(2)
Ending balance	$	26	$	27

During 2023 and 2022, we adjusted our reserves at several sites to reflect current estimates of remediation costs and environmental settlements.

Other Proceedings

We are party to other legal proceedings in the ordinary course of business. Based on the information currently available, we do not believe that the resolution of such proceedings could reasonably be expected to have a material adverse effect on our financial position, results of operations, cash flows, or liquidity. During the second quarter of 2023, we agreed to pay $16 million to resolve certain patent-related claims and to obtain certain patent rights, which is recorded within other operating credits and charges, net in our Consolidated Statements of Income. See "Note 12 - Other Operating and Non-Operating Income (Expense)" As of December 31, 2023, $8 million of the settlement amount is outstanding and is included in accounts payable and accrued liabilities in the Consolidated Balance Sheets.

Self-Insurance

We are primarily self-insured for workers’ compensation and employee health care liability costs. Self-insurance liabilities for workers’ compensation are determined based upon a valuation performed by an actuarial firm. The estimate of future workers’ compensation liabilities incorporates loss development and an estimate associated with incurred but not yet reported claims. These claims are discounted. Self-insurance liabilities for employee health costs are determined actuarially based upon claims filed and estimated claims incurred but not yet reported. These claims are not discounted.

Indemnities and Guarantees

We are a party to certain contracts in which we agree to indemnify third parties for certain liabilities that arise out of or relate to the subject matter of the contract. In some cases, this indemnity extends to related liabilities arising out of the negligence of the indemnified parties, but usually excludes any liabilities caused by gross negligence or willful misconduct of the indemnified parties. We cannot estimate the potential amount of future payments under these agreements until events arise that would trigger the liability.

Additionally, in connection with certain sales of assets and divestitures of businesses, we have agreed to indemnify the applicable buyer and certain related parties for certain losses or liabilities incurred by the buyer or such related parties with respect to (1) the representations and warranties made to the buyer by us in connection with the applicable sale or divestiture and (2) liabilities related to the pre-closing operations of the assets or businesses sold. Indemnities related to pre-closing operations generally include environmental liabilities, tax liabilities, and other liabilities not assumed by the buyer.

Indemnities related to the pre-closing operations of sold assets or divested businesses typically do not represent added liabilities for us, but simply serve to protect the buyer from potential liability associated with the obligations that existed (known and unknown) at the time of the sale. We record accruals for those pre-closing obligations that are considered probable and estimable. We have not accrued any additional amounts as a result of the indemnity agreements summarized below, as we believe the fair value of the guarantees is not material.

•In connection with various sales of our timberlands, we have agreed to indemnify the relevant buyers with respect to losses resulting from breaches of limited representations and warranties contained in the related agreements. These indemnities generally are capped at a maximum potential liability and have an unspecified duration.

We also have various other indemnities that are individually and in the aggregate immaterial.

We record a liability related to specific indemnification when future payment is probable, and the amount is estimable.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Retirement Plans and Post Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Net Funded Status and Assumptions Used in Calculating Benefit Obligation [Table Text Block]


	2023		2022
Change in benefit obligation:
Beginning of year balance	$	3	$	301
Service cost	1		3
Interest cost	—		7
Actuarial (gains) losses, net	—		(47)


Foreign exchange rate changes	—		(2)
Benefits paid	—		(13)
Pension settlements	(2)		(247)
End of year balance	$	2	$	3
Change in assets (fair value):
Beginning of year balance	$	6	$	296
Actual return on plan assets	(1)		(33)
Employer contribution	(2)		5
Foreign exchange rate changes	—		(2)
Benefits paid	—		(13)
Pension settlements	(2)		(247)

End of year balance	$	—	$	6
Plan assets less than benefit obligations	$	(2)	$	2

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	—	$	4
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(2)		(2)
Net amount recognized	$	(2)	$	2

Amounts in accumulated comprehensive loss:
Net actuarial loss	$	(1)	$	(1)
Prior service costs	—		(6)
Total pre-tax amounts in accumulated comprehensive loss	$	(1)	$	(6)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The changes recognized in other comprehensive loss were as follows (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Pension settlements, net of tax	$	4	$	62	$	2
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	—		5		(1)
Amortization of actuarial loss, prior service cost, net of tax	—		4		5
Total amounts recognized in other comprehensive income	$	4	$	71	$	5

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2022 was as follows:


	2022
Discount rate:
U.S.	2.3	%
Canada	3.8	%
Rate of compensation increase:
U.S.	NA
Canada	NA

Schedule of Net Benefit Costs [Table Text Block]

The following table sets forth the net periodic pension cost for our defined benefit pension plans. The components of our net periodic pension costs consisted of the following (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Service cost	$	1	$	3	$	1
Other components of net periodic pension cost:
Interest cost	—		7		7
Expected return on plan assets	—		(7)		(13)
Amortization of prior service cost and net transition asset	—		1		1
Amortization of net actuarial loss	—		5		6
Net periodic pension cost before loss due to settlement	1		8		2
Loss due to pension settlement	4		82		2
Total net periodic pension cost	$	4	$	91	$	4

Net periodic pension cost included in cost of sales	$	—	$	—	$	—
Net periodic pension cost included in selling, general, and administrative expenses	1		3		1
Net periodic pension cost included in other non-operating items	4		88		3
	$	4	$	91	$	4

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2022, and 2021 were as follows:


	2022		2021
Discount rate:
U.S.	2.6	%	2.3	%
Canada	2.6	%	2.3	%

Expected return on plan assets:
U.S.	3.0	%	5.3	%
Canada	2.0	%	2.3	%

Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

Schedule of Allocation of Plan Assets [Table Text Block]

Schedule of benefit obligation by plan category [Table Text Block]

Benefit obligations by plan category are as follows (dollars in millions):


	2023
	U.S.		Canada		Total
Fair value of plan assets	$	—	$	—	$	—
Benefit obligation	1		1		2
Funded Status	$	(1)	$	(1)	$	(2)

	2022
	U.S.		Canada		Total
Fair value of plan assets	$	1	$	4	$	6
Benefit obligation	2		2		3
Funded Status	$	—	$	3	$	2

Summary of Significant Accounting Policies - Nature of Operations (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) plant
Accounting Policies [Abstract]
Number of Plants Operated \| plant	23
Payments to Acquire Productive Assets \| $	$ 80

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 7
Operating Lease, Weighted Average Discount Rate, Percent	3.00%
Operating Lease, Cost	$ 10	$ 10
Operating lease assets	25	44
Leases of Lessee Disclosure [Text Block]	25	44
Operating Lease, Liability, Current	6	8
Non-current operating lease liabilities	25	41
Total lease liabilities	32	49
Operating Lease, Payments	10	9
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 4	$ 4
Operating Lease, Weighted Average Remaining Lease Term	7 years
Lessee, Operating Lease, Liability, Payments, Due Year Two	$ 6
Lessee, Operating Lease, Liability, Payments, Due Year Three	5
Lessee, Operating Lease, Liability, Payments, Due Year Four	3
Lessee, Operating Lease, Liability, Payments, Due Year Five	3
Lessee, Operating Lease, Liability, Payments, Due after Year Five	9
Lessee, Operating Lease, Liability, Payments, Due	34
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(3)
Operating Lease, Liability	$ 32
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
Operating Lease, Expense	$ 4	$ 6
Operating Lease, Impairment Loss	$ 3

Selected Segment Data (Details) $ in Millions	12 Months Ended
Selected Segment Data (Details) $ in Millions	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Net sales	$ (2,581)	$ (3,854)	$ (3,915)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	178	1,083	1,373
Net loss attributed to noncontrolling interest	0	3	4
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	178	888	1,306
Provision for income taxes	74	274	402
Depreciation and amortization	119	129	114
Total stock-based compensation expense (cost of sales, selling, general and administrative, and other operating credits and charges, net)	13	19	16
Impairment of long-lived assets	6	1	5
Other operating credits and charges, net	18	(16)	(1)
Business exit charges	32	0	0
Interest Expense, net	14	11	14
Investment Income, Nonoperating	(18)	(14)	(1)
Other nonoperating items	39	15	9
Adjusted EBITDA	478	1,389	1,877
Depreciation and amortization	119	129	114
Capital Expenditures	300	412	250
Loss due to settlement	4	82	2
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	178	885	1,302
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	$ 1,572	1,382	1,106
Number of Operating Segments \| segment	3
UNITED STATES
Segment Reporting Information [Line Items]
Net sales	$ (2,265)	(3,329)	(3,354)
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	996	939	671
CANADA
Segment Reporting Information [Line Items]
Net sales	(610)	(827)	(613)
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	472	356	359
South America
Segment Reporting Information [Line Items]
Net sales	(241)	(273)	(291)
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	104	87	75
Intersegment sales
Segment Reporting Information [Line Items]
Net sales	0	(2)	(3)
Non-segment related
Segment Reporting Information [Line Items]
Depreciation and amortization	0	0	0
Capital Expenditures	10	21	4
Siding \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	(1,328)	(1,469)	(1,170)
Adjusted EBITDA	269	339	289
Depreciation and amortization	67	71	69
Capital Expenditures	212	316	177
OSB \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	(1,026)	(2,062)	(2,387)
Adjusted EBITDA	220	1,034	1,531
Depreciation and amortization	43	46	34
Capital Expenditures	59	53	47
South America \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	(205)	(241)	(265)
Adjusted EBITDA	42	77	113
Depreciation and amortization	7	8	8
Capital Expenditures	19	20	20
Other \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	(22)	(84)	(95)
Adjusted EBITDA	(17)	(23)	(20)
Depreciation and amortization	2	4	4
Capital Expenditures	0	1	2
Corporate Segment \| Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (36)	$ (38)	$ (36)

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 178	$ 1,083	$ 1,373
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	119	132	119
Impairment of long-lived assets	30	1	6
Gain on Acquisition	(7)	(157)	0
Pension loss due to settlement	4	82	2
Loss on early debt extinguishment	0	0	11
Deferred taxes	44	1	7
Foreign currency remeasurement and transaction (gains) losses	50	(2)	2
Other adjustments, net	26	35	9
Receivables	(8)	22	(14)
Inventories	(46)	(66)	(71)
Prepaid expenses and other current assets	(1)	(7)	0
Accounts payable and accrued liabilities	(40)	15	46
Income taxes payable, net of receivables	(33)	6	(5)
Net cash provided by operating activities	316	1,144	1,484
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(300)	(414)	(254)
Proceeds from divestiture of businesses	(80)	0	0
Cash Surrender Value of Life Insurance	0	268	0
Proceeds from sale of assets	9	0	0
Other investing activities, net	(4)	0	5
Net cash provided by (used in) investing activities	(376)	(146)	(247)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long term debt	(80)	0	(359)
Proceeds from Debt, Maturing in More than Three Months	80	0	350
Payment of cash dividends	(69)	(69)	(66)
Purchase of stock	0	(900)	(1,300)
Other financing activities	(8)	(13)	(13)
Net cash used in financing activities	(77)	(982)	(1,388)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(24)	(5)	(14)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(161)	12	(164)
Cash, cash equivalents, and restricted cash at beginning of period	383	371	535
Cash, cash equivalents, and restricted cash at end of period	222	383	371
Supplemental Cash Flow Information [Abstract]
Cash paid for income taxes, net	(65)	(320)	(421)
Cash paid for interest, net	(15)	(14)	(16)
Unpaid capital expenditures	$ 15	$ 48	$ 46

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

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

Receivables consisted of the following (dollars in millions):


	December 31,
	2023		2022
Trade receivables	$	104	$	106
Income tax receivables	27		4


Other receivables	26		19
Allowance for doubtful accounts	(2)		(1)
Total Receivables	$	155	$	127

Schedule of Inventory, Current [Table Text Block]

Inventories


	December 31,
	2023		2022
Logs	$	81	$	59
Other raw materials	53		72
Semi-finished inventory	27		25
Finished products	217		180
Total Inventories	$	378	$	337

Depreciation expense [Table Text Block]

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below (dollars in millions):


	Year Ended December 31,
	2023		2022		2021
Cost of sales	$	111	$	121	$	107
Selling, general and administrative expenses	4		4		2
Total depreciation and amortization	$	115	$	124	$	109

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):


	December 31,
	2023		2022
Land, land improvements, and logging roads, net of road amortization	$	212	$	193
Buildings	493		428
Machinery and equipment	2,352		2,124
Construction in progress	236		253
	3,293		2,998
Accumulated depreciation	(1,753)		(1,672)
Property, plant, and equipment, net	$	1,540	$	1,326

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable and accrued liabilities were as follows (dollars in millions):


	December 31,
	2023		2022
Trade accounts payable	$	141	$	178
Salaries and wages payable	57		66
Accrued customer incentives	37		46
Taxes other than income taxes	3		10
Current portion of operating lease liabilities	6		8
Other accrued liabilities	10		9
Total Accounts payable and accrued liabilities	$	254	$	317

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities were as follows (dollars in millions):


	December 31,
	2023		2022
Post-retirement obligations	$	7	$	7
Asset retirement obligations	8		8
Uncertain tax positions	15		7
Warranty reserves	6		6
Pension benefit obligation	2		1
Other	23		25
Total Other long-term liabilities	$	61	$	53

Schedule of Asset Retirement Obligations [Table Text Block]

The activity in our asset retirement obligation liability for 2023 and 2022 is summarized in the following table (dollars in millions).


	Year Ended December 31,
	2023		2022
Beginning balance	$	8	$	8
Accretion expense	—		—
Adjusted to expense (cost of sales and other operating credits and charges, net)	—		(1)
Payments made	—		—
Ending balance	$	8	$	8

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Aug. 01, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity method investment, realized gain on disposal			$ 7	$ 157	$ 0
Capital expenditure, discontinued operations			3	6
Depreciation and amortization, discontinued operations			$ 3	5
Discontinued Operations, Disposed of by Sale \| EWP Segment Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		50.00%
EWP Segment Assets \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses	$ 205			$ 205
Disposal group, including discontinued operation, consideration	217
Discontinued operation, direct transaction costs	12
Long-term assets of discontinued operations	87
Gain on sale	$ (118)
Resolute Forest Products Inc. [Member] \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses		$ 59
Equity method investments		19
Equity method investment, realized gain on disposal		$ 39

Revenue Disaggregation of revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ (2,581)	$ (3,854)	$ (3,915)
Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	(2)	(3)
OSB - value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	(742)	(1,323)	(1,379)
OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	(2)	0
OSB - commodity [Member]
Disaggregation of Revenue [Line Items]
Net sales	(446)	(937)	(1,221)
OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	(1)
Value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	(2,086)	(2,809)	(2,570)
Value-add [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	(2)	0
Other products [Member]
Disaggregation of Revenue [Line Items]
Net sales	(49)	(107)	(123)
Other products [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	(3)
Commodity Products [Member]
Disaggregation of Revenue [Line Items]
Net sales
Commodity Products [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales			0
Siding Solutions
Disaggregation of Revenue [Line Items]
Net sales	(1,343)	(1,486)	(1,191)
Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(1,328)	(1,469)	(1,170)
Siding \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0
Siding \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(1,319)	(1,463)	(1,158)
Siding \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(9)	(6)	(12)
Siding \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			0
Siding \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(1,319)	(1,463)	(1,158)
OSB \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(1,026)	(2,062)	(2,387)
OSB \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(565)	(1,110)	(1,152)
OSB \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(446)	(938)
OSB \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(565)	(1,110)	(1,152)
OSB \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(15)	(14)	(14)
OSB \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			(1,221)
OSB \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(205)	(241)	(265)
South America \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(177)	(215)	(227)
South America \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0
South America \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(201)	(238)	(260)
South America \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(4)	(3)	(5)
South America \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			0
South America \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(24)	(23)	(33)
Other \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(22)	(84)	(95)
Other \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(22)	(84)	(95)
Other \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			0
Other \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

IMPAIRMENT OF LONG-LIVED ASSETS	12 Months Ended
IMPAIRMENT OF LONG-LIVED ASSETS	Dec. 31, 2023
GAIN (LOSS) ON SALE OF AND IMPAIRMENT OF LONG-LIVED ASSETS, NET [Abstract]
Impairment of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS We review the carrying values of our long-lived assets for potential impairments and believe we have adequate support for the carrying value of each of these assets based upon the anticipated cash flows that result from our estimates of future demand, pricing, and production costs, assuming certain levels of planned capital expenditures. However, if demand and pricing for our products fall to levels significantly below cycle average demand and pricing, should we decide to invest capital in alternative projects, or should changes occur related to our wood supply for our mills, it is possible that future impairment charges will be required. We also review from time to time possible 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 2023, we recorded $30 million of non-cash, pre-tax impairment charges, $24 million of which was related to the shutdown of Entekra, including $13 million of property, plant, and equipment, $9 million of intangible assets, and $3 million related to operating lease assets. See further discussion in “Note 7 - Business Exit Charges”. Further, $6 million of non-cash, pre-tax impairment charges were recognized related to the Granite City, Illinois facility which is scheduled for closure in 2024, including $4 million of property, plant, and equipment and $2 million related to operating lease assets. During 2022, we recognized $1 million of pre-tax impairment charges. These assets were written down to fair value based on Level 2 inputs under ASC 820, Fair Value Measurement, using quoted market prices.

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Consignment inventory	$ 28	$ 20
Accrued Exchange Fee Rebate, Current	$ 37	$ 46
All Customers [Member] [Member] \| Customer Concentration Risk \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	50.00%	48.00%	45.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease, Cost [Table Text Block]

Our operating leases are included in our Consolidated Balance Sheets and Consolidated Statements of Income as follows (dollars in millions):


	Classification	December 31,
Consolidated Balance Sheet		2023		2022
Assets:
Operating lease assets	Operating lease assets, net	$	25	$	44

Total lease assets		$	25	$	44
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	6	$	8

Non-current
Operating	Non-current operating lease liabilities	25		41

Total lease liabilities		$	32	$	49

Lessor, Operating Lease, Payments to be Received, Maturity

The following table sets forth the minimum lease payments that are expected to be made in each of the years indicated (dollars in millions):


	Operating Leases
2024	$	7
2025	6
2026	5
2027	3
2028	3
2029 and thereafter	9
Total lease payments	34
Less: Interest	(3)
Present value of lease liabilities	$	32

Discontinued Operations - Financial Results of EWP Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of income taxes	$ 0	$ 198	$ 71
Discontinued Operations, Held-for-sale \| EWP Segment Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales		455	638
Cost of sales		(355)	(531)
Gross profit		101	107
Selling, general, and administrative expenses		(10)	(18)
Other operating credits and charges, net		0	0
Income from operations of discontinued operations		91	90
Other non-operating items		0	5
Gain on disposal before income taxes		158	0
Income from discontinued operations before income taxes		249	95
Provision for income taxes		(51)	(24)
Income from discontinued operations, net of income taxes		198	71
Net cash provided by discontinued operating activities		16	71
Net cash provided by (used in) discontinued investing activities		$ 261	$ (6)

Income Taxes Reconciliation of deferred taxes (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Accrued liabilities	$ 21.0	$ 20.0
Deferred Tax Assets, Deferred Expense, Capitalized Research and Development Costs	19.0	14.0
Benefit of capital loss and NOL carryovers	10.0	6.0
Operating lease liabilities	8.0	7.0
Other	11.0	15.0
Inventory	14.0	9.0
Deferred Tax Liabilities, Leasing Arrangements	8.0	7.0
Deferred Tax Liabilities, Investments	7.0	7.0
Deferred Revenue	3.0	3.0
Valuation Allowance, Amount	(4.0)	(4.0)
Deferred Tax Assets, Net of Valuation Allowance	82.0	70.0
Deferred Tax Assets, Net	86.0	74.0
Property, plant and equipment	(188.0)	(152.0)
Deferred Tax Liabilities, Undistributed Foreign Earnings	21.0	0.0
Timber and timberlands	6.0	7.0
Installment sale gain deferral	(4.0)	(3.0)
Total Deferred Tax Liabilities	(234.0)	(176.0)
Deferred Tax Liabilities, Net, Total	152.0	106.0
Long-term deferred tax asset	(11.0)	(7.0)
Long-term deferred tax liability	$ (162.0)	$ (113.0)

Restructuring and Related Activities (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs [Table Text Block]

Business exit charges were $32 million for year ended December 31, 2023, which consisted of the following (dollar amounts in millions):


	Year Ended December 31,
	2023
Impairment of property, plant and equipment, operating lease assets, and other intangible assets1	$	24
Restructuring and other related charges:
Inventory write-down2	7
Other expenses including personnel-related costs such as severance3	1
Total Business exit charges	$	32

1Included within impairment of long-lived assets, net on the Consolidated Income Statements.

2Included within cost of sales on the Consolidated Income Statements.

3Included within other operating credits and charges, net on the Consolidated Income Statements.

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. Federal tax rate	21.00%	21.00%	21.00%
State and local income taxes	3.00%	3.00%	3.00%
Effect of foreign tax rates / foreign exhchange	1.00%	1.00%	1.00%
Effective Income Tax Rate Reconciliation, Uncertain Tax Positions, Percent	3.00%	0.00%	0.00%
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Percent	10.00%	0.00%	0.00%
Effective Income Tax Rate Reconciliation, Non-Deductible Compensation, Percent	2.00%	0.00%	0.00%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	(2.00%)	0.00%	0.00%
Prior year changes in tax laws and positions	(3.00%)	0.00%	0.00%
Revisions to prior year estimates	(3.00%)	0.00%	0.00%
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent	(3.00%)	(1.00%)	(1.00%)
Effective tax rate (%)	29.00%	24.00%	24.00%
Cash paid for income taxes, net	$ 65	$ 320	$ 421
Taxes Payable	22	16
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	53	243	358
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	8	34	43
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	3	9	16
Effective Income Tax Rate Reconciliation, Uncertain Tax Positions, Amount	7	(2)	(1)
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	25	0	0
Effective Income Tax Rate Reconciliation, Non-Deductible Compensation, Amount [Table]	6	6	3
Effective Income Tax Rate Reconciliation, Tax Credit, Amount	5	4	4
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	(9)	0	0
Effective Income Tax Rate Reconciliation, Revisions To Prior Year Income Taxes, Amount	(7)	2	(3)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	(7)	(14)	(10)
Provision for income taxes	$ 74	$ 274	$ 402

Long-term Debt Long-term Debt Required repayment of Principal (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
2024	$ 0
2025	0
2026	0
2027	0
2028	0
2029 and thereafter	350
Total	$ 350	$ 350

Summary of Significant Accounting Policies Accounts Payable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts Payable	$ 141	$ 178
Accrued Salaries, Current	57	66
Accrued Exchange Fee Rebate, Current	37	46
Taxes Payable, Current	3	10
Operating Lease, Liability, Current	6	8
Other Accrued Liabilities, Current	10	9
Accounts payable and accrued liabilities	254	317
Unpaid capital expenditures	15	48	$ 46
Advertising Expense	$ 25	$ 28	$ 24
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes in goodwill by segment for the years ended December 31, 2023 and 2022, are provided in the following table (dollars in millions):


	Siding		OSB		Total
Balance at December 31, 2021	$	4	$	16	$	19

Impairment charges	—		—		—
Balance at December 31, 2022	4		16		19

Impairment charges	—		—		—
Balance at December 31, 2023	$	4	$	16	$	19

Schedule of Intangible Assets and Goodwill [Table Text Block]

Changes in other intangible assets for the years ended December 31, 2023 and 2022, are provided in the following table (dollars in millions):


	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2021	$	30	$	17	$	2	$	49


Amortization	(3)		(2)		—		(5)
Balance at December 31, 2022	28		15		2		45

Impairment	—		(7)		(2)		(9)
Amortization	(3)		(1)		—		(4)
Balance at December 31, 2023	$	25	$	7	$	—	$	32

1Timber licenses are included in timber and timberlands on the Consolidated Balance Sheets.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Accumulated Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2023

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 (dollars in millions):


	Pension		Translation Adjustments		Other		Total
Balance at December 31, 2020	$	(81)	$	(68)	$	(2)	$	(151)

Reclassified to income statement, net of taxes1	5		—		—		5
Pension settlement loss, net of taxes	—		—		—		—
Translation adjustments	—		(28)		—		(28)
Balance at December 31, 2021	(76)		(96)		(1)		(174)

Reclassified to income statement, net of taxes1	—		—		1		1
Pension settlement loss, net of taxes	71		—		—		71
Translation adjustments	—		2		—		2
Balance at December 31, 2022	(5)		(94)		—		(99)

Reclassified to income statement, net of taxes1	—		—		—		—
Pension settlement loss, net of taxes	4		—		—		4
Translation adjustments	—		6		—		6
Balance at December 31, 2023	$	—	$	(89)	$	—	$	(89)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details