0001628280-24-021527 | 10-Q | XBRL Viewer

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Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 724	$ 584
Cost of sales	(511)	(483)
Gross Profit	214	101
Selling, general, and administrative expenses	(69)	(66)
Other operating credits and charges, net	1	(5)
Income from operations	145	30
Non-operating income (expense):
Interest Expense	(4)	(3)
Investment income	6	5
Other non-operating items	1	(8)
Income before income taxes	148	23
Provision for income taxes	(41)	(1)
Equity in unconsolidated affiliate	1	0
Net income	108	22
Net income attributed to non-controlling interest	0	(1)
Net income attributed to LP	$ 108	$ 21
Net income attributed to LP per share of common stock:
Net income per share, basic (in dollars per share)	$ 1.49	$ 0.29
Net income per share, diluted (in dollars per share)	$ 1.48	$ 0.29
Average shares of common stock used to compute Net income per share:
Basic (in shares)	72	72
Diluted (in shares)	72	72

Receivables

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Receivables

RECEIVABLES

Receivables consisted of the following (dollar amounts in millions):


	March 31, 2024		December 31, 2023
Trade receivables	$	148	$	104
Other receivables	26		26
Income tax receivable	8		27
Allowance for doubtful accounts	(2)		(2)
Total Receivables	$	180	$	155

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other receivables as of March 31, 2024 and December 31, 2023 primarily consist of sales tax receivables, vendor rebates, and other miscellaneous receivables.

Product Warranties

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Product Warranties

PRODUCT WARRANTIES

We offer warranties on the sale of most of our products and record an accrual for estimated future claims. Such accruals are based upon historical experience and management’s estimate of the level of future claims. The activity in warranty reserves for the three months ended March 31, 2024 and 2023, is summarized in the following table (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023
Beginning balance	$	8	$	8
Accrued to expense	1		1

Payments made	—		—
Total warranty reserves	8		8
Current portion of warranty reserves (included in Accounts payable and accrued liabilities)	(2)		(2)
Long-term portion of warranty reserves (included in Other long-term liabilities)	$	6	$	7

We continue to monitor warranty and other claims associated with our products and believe, as of March 31, 2024, that the warranty reserve balances associated with these matters are adequate to cover future warranty payments. However, it is possible that additional changes may be required in the future.

Commiments and Contingencies Commiments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Legal and Environmental Matters [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

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


	March 31, 2024		December 31, 2023
Environmental reserves	$	26	$	26
Other reserves	—		—
Total contingencies	26		26
Current portion (included in Accounts payable and accrued liabilities)	(1)		(1)
Long-term portion	$	25	$	25

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 724	$ 584
Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	361	331
OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	313	189
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	3	8
South America
Disaggregation of Revenue [Line Items]
Net sales	47	55
Value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	579	487
Value-add [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	359	329
Value-add [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	174	104
Value-add [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Value-add [Member] \| South America
Disaggregation of Revenue [Line Items]
Net sales	46	54
Value-add [Member] \| SmartSide siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	366	337
Value-add [Member] \| SmartSide siding [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	359	329
Value-add [Member] \| SmartSide siding [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Value-add [Member] \| SmartSide siding [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Value-add [Member] \| SmartSide siding [Member] \| South America
Disaggregation of Revenue [Line Items]
Net sales	7	8
Value-add [Member] \| OSB -Structural Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	213	150
Value-add [Member] \| OSB -Structural Solutions [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Value-add [Member] \| OSB -Structural Solutions [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	174	104
Value-add [Member] \| OSB -Structural Solutions [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Value-add [Member] \| OSB -Structural Solutions [Member] \| South America
Disaggregation of Revenue [Line Items]
Net sales	38	46
Commodity \| OSB - commodity [Member]
Disaggregation of Revenue [Line Items]
Net sales	134	83
Commodity \| OSB - commodity [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Commodity \| OSB - commodity [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	134	83
Commodity \| OSB - commodity [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Commodity \| OSB - commodity [Member] \| South America
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other Product Types \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	12	14
Other Product Types \| Other [Member] \| Siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	2	2
Other Product Types \| Other [Member] \| OSB [Member]
Disaggregation of Revenue [Line Items]
Net sales	5	2
Other Product Types \| Other [Member] \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	3	8
Other Product Types \| Other [Member] \| South America
Disaggregation of Revenue [Line Items]
Net sales	$ 2	$ 1

Selected Segment Data (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

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


	Three Months Ended March 31,
	2024		2023
NET SALES BY BUSINESS SEGMENT
Siding	$	361	$	331
OSB	313		189
LPSA	47		55
Other	3		8

Total sales	$	724	$	584
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	108	$	22
Add (deduct):
Net income attributed to non-controlling interest	—		(1)

Income attributed to LP	108		21
Provision for income taxes	41		1
Depreciation and amortization	31		28
Stock-based compensation expense	6		4

Other operating credits and charges, net	—		5
Business exit charges	(1)		—

Interest expense	4		3
Investment income	(6)		(5)
Pension settlement charges	—		6
Other non-operating items	(1)		3
Adjusted EBITDA	$	182	$	66
SEGMENT ADJUSTED EBITDA
Siding	$	90	$	67
OSB	90		5
LPSA	10		12
Other	(1)		(9)
Corporate	(7)		(9)
Adjusted EBITDA	$	182	$	66

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Estimated annual tax rate	25.00%	28.00%
Effective Income Tax Rate Reconciliation, Percent	28.00%	5.00%
Other Tax Expense (Benefit)	$ 4	$ 5

Impairments of Long-Lived Assets	3 Months Ended
Impairments of Long-Lived Assets	Mar. 31, 2024
Asset Impairment Charges [Abstract]
Impairments of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS We review the carrying values of our long-lived assets for potential impairments and believe we have adequate support for such carrying values. If demand and pricing for our products fall to levels significantly below cycle average demand and pricing, should we decide to invest capital in alternative projects, or should changes occur related to our wood supply for our mills, it is possible that future impairment charges will be required. As of March 31, 2024, there were no indications of impairment. We also review from time to time potential dispositions of various assets, considering 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.

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 108	$ 22
Other comprehensive income (loss)
Foreign currency translation adjustments	(15)	15
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	4
Other comprehensive income (loss), net of tax	(15)	19
Comprehensive income	93	42
Comprehensive income associated with non-controlling interest	0	1
Comprehensive income attributed to LP	93	41
Translation Adjustments
Other comprehensive income (loss)
Foreign currency translation adjustments	$ (15)	$ 15

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax, before reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount after tax of reclassification adjustments of other comprehensive income (loss).

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Commiments and Contingencies Commiments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 25	$ 25
Accrual for Environmental Loss Contingencies, Gross	26	26
Current portion (included in Accounts payable and accrued liabilities)	(1)	(1)
Long-term portion	25	25
Settlement outstanding amount	1	1
Environmental reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	26	26
Other reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 0	$ 0

- 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

Inventories

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are valued at the lower of cost or net realizable value. Inventory cost includes materials, labor, and operating overhead. The major types of inventories (work in process is not material and is included in semi-finished inventory) are as follows (dollar amounts in millions):


	March 31, 2024		December 31, 2023
Logs	$	97	$	81
Other raw materials	46		53
Semi-finished inventories	27		27
Finished products	228		217
Total Inventories	$	398	$	378

Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Trade receivables	$ 148	$ 104
Other receivables	26	26
Income tax receivable	8	27
Allowance for doubtful accounts	(2)	(2)
Total	$ 180	$ 155

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock, Common	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Common Stock, Shares, Outstanding		88,000,000
Common Stock, Amount, Outstanding		$ 88
Treasury Stock, Shares			16,000,000
Treasury Stock, amount			$ (388)
Additional paid-in capital				$ 462
Retained earnings					$ 1,371
Accumulated comprehensive loss	$ (99)					$ (99)
Total stockholders' equity	1,433
Net income	21
Repurchase of common stock	0
Accumulated comprehensive loss	(80)
Common Stock, Shares, Outstanding		88,000,000
Common Stock, Amount, Outstanding		$ 88
Treasury Stock, Shares			16,000,000
Treasury Stock, amount	386		$ (386)
Additional paid-in capital	465			$ 465
Retained earnings	1,479				$ 1,479
Accumulated comprehensive loss	(89)					$ (89)
Total stockholders' equity	1,557
Net income	108
Repurchase of common stock	$ (13)
Common Stock, Shares, Outstanding, Ending Balance at Mar. 31, 2024	72,000,000
Common Stock, Shares, Outstanding	72,000,000
Treasury Stock, Shares	16,000,000
Treasury Stock, amount	$ 386
Additional paid-in capital	465
Retained earnings	1,555
Accumulated comprehensive loss	(104)
Total stockholders' equity	$ 1,617

Selected Segment Data

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Selected Segment Data

SELECTED SEGMENT DATA

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

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

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

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

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

Information about our business segments is as follows (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023
NET SALES BY BUSINESS SEGMENT
Siding	$	361	$	331
OSB	313		189
LPSA	47		55
Other	3		8

Total sales	$	724	$	584
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	108	$	22
Add (deduct):
Net income attributed to non-controlling interest	—		(1)

Income attributed to LP	108		21
Provision for income taxes	41		1
Depreciation and amortization	31		28
Stock-based compensation expense	6		4

Other operating credits and charges, net	—		5
Business exit charges	(1)		—

Interest expense	4		3
Investment income	(6)		(5)
Pension settlement charges	—		6
Other non-operating items	(1)		3
Adjusted EBITDA	$	182	$	66
SEGMENT ADJUSTED EBITDA
Siding	$	90	$	67
OSB	90		5
LPSA	10		12
Other	(1)		(9)
Corporate	(7)		(9)
Adjusted EBITDA	$	182	$	66

- 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

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+ Details

Accumulated Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2024

Accumulated Other Comprehensive Income (Loss) [Line Items]

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

Accumulated comprehensive loss is provided in the following table for the three months ended March 31, 2024 and 2023 (dollar amounts in millions):


	Translation Adjustments		Other		Total
Balance at December 31, 2023	$	(89)	$	(1)	$	(89)

Translation adjustments	(15)		—		(15)
Balance at March 31, 2024	$	(104)	$	—	$	(104)


	Translation Adjustments		Other		Total
Balance at December 31, 2022	$	(94)	$	(5)	$	(99)
Reclassified to income statement, net of taxes1	—		4		4
Translation adjustments	15		—		15
Balance at March 31, 2023	$	(79)	$	(1)	$	(80)

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

- 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

Accumulated Comprehensive Loss

3 Months Ended

Mar. 31, 2024

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

Accumulated Comprehensive Loss

ACCUMULATED COMPREHENSIVE LOSS

Accumulated comprehensive loss is provided in the following table for the three months ended March 31, 2024 and 2023 (dollar amounts in millions):


	Translation Adjustments		Other		Total
Balance at December 31, 2023	$	(89)	$	(1)	$	(89)

Translation adjustments	(15)		—		(15)
Balance at March 31, 2024	$	(104)	$	—	$	(104)


	Translation Adjustments		Other		Total
Balance at December 31, 2022	$	(94)	$	(5)	$	(99)
Reclassified to income statement, net of taxes1	—		4		4
Translation adjustments	15		—		15
Balance at March 31, 2023	$	(79)	$	(1)	$	(80)

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

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2	$ 2
Common Stock, Par or Stated Value Per Share	$ 1	$ 1
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	88,000,000
Common Stock, Shares, Outstanding	72,000,000
Treasury Stock, Shares	16,000,000

Goodwill and Other Intangible Assets (Notes)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLES

Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment by applying a fair value-based test on an annual basis, or more frequently if circumstances indicate a potential impairment. The Company’s annual assessment date is October 1.

Changes in goodwill and other intangible assets for the three months ended March 31, 2024 are provided in the following table (dollar amounts in millions):


	Timber Licenses1		Goodwill		Developed Technology
Beginning balance December 31, 2023	$	25	$	19	$	7


Amortization	(1)		—		—
Ending balance March 31, 2024	$	24	$	19	$	7

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

Revenue (Tables)

3 Months Ended

Mar. 31, 2024

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]


	Three Months Ended March 31, 2024
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	359	$	—	$	7	$	—	$	366
OSB - Structural Solutions	—		174		38		—		213
	359		174		46		—		579
Commodity
OSB - commodity	—		134		—		—		134

Other
Other products	2		5		2		3		12
	$	361	$	313	$	47	$	3	$	724


	Three Months Ended March 31, 2023
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	329	$	—	$	8	$	—	$	337
OSB - Structural Solutions	—		104		46		—		150
	329		104		54		—		487
Commodity
OSB - commodity	—		83		—		—		83

Other
Other products	2		2		1		8		14
	$	331	$	189	$	55	$	8	$	584

- 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

Earnings per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS PER SHARE

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

The following table sets forth the computation of basic and diluted earnings per share (dollar and share amounts in millions, except per share amounts):


	Three Months Ended March 31,
	2024		2023




Net income attributed to LP	$	108	$	21

Weighted average common shares outstanding - basic	72		72
Dilutive effect of employee stock plans	—		—
Shares used for diluted earnings per share	72		72
Earnings per share:



Basic	$	1.49	$	0.29




Diluted	$	1.48	$	0.29

Other Operating and Non-Operating Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Nonoperating Income (Expense) [Abstract]
Reorganization charges	$ (2)	$ (2)
Other	3	(3)
Other operating credits and charges, net	1	(5)
Loss due to settlement	0	(6)
Foreign currency gain (loss)	1	(3)
Other	0	1
Other non-operating items	$ 1	$ (8)

Label	Element	Value
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ (15,000,000)
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ 19,000,000
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation	6,000,000
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation	10,000,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 0
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	0
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6,000,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4,000,000
Common stock, Value, Shares acquired	lpx_CommonstockValueSharesacquired	13,000,000
Payments of Dividends	us-gaap_PaymentsOfDividends	19,000,000
Payments of Dividends	us-gaap_PaymentsOfDividends	$ 17,000,000
Treasury Stock, Common [Member]
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation	6,000,000
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation	10,000,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 6,000,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 10,000,000
Treasury Stock, Common, Shares	us-gaap_TreasuryStockCommonShares	16,000,000
Treasury Stock, Common, Shares	us-gaap_TreasuryStockCommonShares	16,000,000
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	0
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	0
Treasury Stock, Value	us-gaap_TreasuryStockValue	$ (386,000,000)
Treasury Stock, Value	us-gaap_TreasuryStockValue	(388,000,000)
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	(15,000,000)
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	19,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax	(104,000,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax	us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax	(80,000,000)
Retained Earnings [Member]
Retained Earnings (Accumulated Deficit)	us-gaap_RetainedEarningsAccumulatedDeficit	1,555,000,000
Retained Earnings (Accumulated Deficit)	us-gaap_RetainedEarningsAccumulatedDeficit	1,375,000,000
Net Income (Loss)	us-gaap_NetIncomeLoss	108,000,000
Net Income (Loss)	us-gaap_NetIncomeLoss	21,000,000
Common stock, Value, Shares acquired	lpx_CommonstockValueSharesacquired	13,000,000
Payments of Dividends	us-gaap_PaymentsOfDividends	19,000,000
Payments of Dividends	us-gaap_PaymentsOfDividends	$ 17,000,000
Common Stock [Member]
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	88,000,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	88,000,000
Common stock, Value, Shares acquired	lpx_CommonstockValueSharesacquired	$ 0
Common stock, Shares acquired	lpx_CommonstockSharesacquired	0
Common Stock, Value, Outstanding	us-gaap_CommonStockValueOutstanding	$ 88,000,000
Common Stock, Value, Outstanding	us-gaap_CommonStockValueOutstanding	88,000,000
Additional Paid-in Capital [Member]
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	6,000,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	10,000,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6,000,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4,000,000
Additional Paid in Capital, Common Stock	us-gaap_AdditionalPaidInCapitalCommonStock	465,000,000
Additional Paid in Capital, Common Stock	us-gaap_AdditionalPaidInCapitalCommonStock	$ 455,000,000

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory [Line Items]
Logs	$ 97	$ 81
Other raw materials	46	53
Semi-finished inventory	27	27
Finished products	228	217
Total	$ 398	$ 378

Product Warranties (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The activity in warranty reserves for the three months ended March 31, 2024 and 2023, is summarized in the following table (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023
Beginning balance	$	8	$	8
Accrued to expense	1		1

Payments made	—		—
Total warranty reserves	8		8
Current portion of warranty reserves (included in Accounts payable and accrued liabilities)	(2)		(2)
Long-term portion of warranty reserves (included in Other long-term liabilities)	$	6	$	7

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

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

The following table sets forth the computation of basic and diluted earnings per share (dollar and share amounts in millions, except per share amounts):


	Three Months Ended March 31,
	2024		2023




Net income attributed to LP	$	108	$	21

Weighted average common shares outstanding - basic	72		72
Dilutive effect of employee stock plans	—		—
Shares used for diluted earnings per share	72		72
Earnings per share:



Basic	$	1.49	$	0.29




Diluted	$	1.48	$	0.29

Other Operating and Non-Operating Income (Notes)

3 Months Ended

Mar. 31, 2024

Nonoperating Income (Expense) [Abstract]

Other Operating and Non-Operating Income

OTHER OPERATING AND NON-OPERATING ITEMS

Other operating credits and charges, net

Other operating credits and charges, net, is comprised of the following components (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023

Reorganization charges	(2)		(2)





Other	3		(3)
Other operating credits and charges, net	$	1	$	(5)

Other non-operating items

Other non-operating items is comprised of the following components (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023











Pension settlement charges	$	—	$	(6)

Foreign currency gain (loss)	1		(3)
Other	—		1
Other non-operating items	$	1	$	(8)

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We are required to classify these financial assets and liabilities into two groups: (i) recurring—measured on a periodic basis, and (ii) non-recurring—measured on an as-needed basis. The net carrying value of the 3.625% Senior Notes due in 2029 (2029 Senior Notes) was $347 million as of March 31, 2024 and December 31, 2023. Based on market quotations, the fair value of the 2029 Senior Notes was estimated to be $319 million and $314 million as of March 31, 2024 and December 31, 2023, respectively. The 2029 Senior Notes and other long-term debt are categorized as Level 1 in the U.S. GAAP fair value hierarchy. Fair values are based on trading activity among the Company’s lenders and the average bid and ask price is determined using published rates. In November 2022, LP entered into a Second Amended and Restated Credit Agreement with American AgCredit, PCA, as administrative agent and sole lead arranger, and CoBank, ACB, as letter of credit issuer (the Credit Agreement), relating to its revolving credit facility (as amended, the Amended Credit Facility). The Credit Agreement provides for a revolving credit facility in the principal amount of up to $550 million, with a $60 million sub-limit for letters of credit. All loans under the Credit Agreement become due on November 29, 2028. As of March 31, 2024, there were no outstanding borrowings under our Amended Credit Facility. Carrying amounts reported on the balance sheet for cash and cash equivalents, accounts receivables, and accounts payable approximate fair value due to the short-term maturity of these items.

- Definition

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

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+ Details

Product Warranties (Details) - USD ($) $ in Millions	3 Months Ended
Product Warranties (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 8	$ 8
Accrued to expense	1	1
Payments made	0	0
Total warranty reserves	8	8
Current portion of warranty reserves	(2)	(2)
Long-term portion of warranty reserves	$ 6	$ 7

Nature of Operations and Basis for Presentation (Details)	Mar. 31, 2024 operatingPlant
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating Segments, Number Of Operating Plants	22

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.26	$ 0.24

Revenue (Notes)

3 Months Ended

Mar. 31, 2024

Disaggregation of Revenue [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE

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

As noted in the segment reporting information in “Note 14 - Selected Segment Data” below, our reportable segments are Siding, Oriented Strand Board (OSB), and LP South America (LPSA). The following tables present our reportable segment revenues, disaggregated by revenue source (dollar amounts in millions):


	Three Months Ended March 31, 2024
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	359	$	—	$	7	$	—	$	366
OSB - Structural Solutions	—		174		38		—		213
	359		174		46		—		579
Commodity
OSB - commodity	—		134		—		—		134

Other
Other products	2		5		2		3		12
	$	361	$	313	$	47	$	3	$	724


	Three Months Ended March 31, 2023
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	329	$	—	$	8	$	—	$	337
OSB - Structural Solutions	—		104		46		—		150
	329		104		54		—		487
Commodity
OSB - commodity	—		83		—		—		83

Other
Other products	2		2		1		8		14
	$	331	$	189	$	55	$	8	$	584

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

Our businesses routinely incur customer program costs to obtain favorable product placement, promote sales of products, and maintain competitive pricing. Customer program costs and incentives, including rebates and promotion and volume allowances, are accounted for as a reduction in net sales at the time the program is initiated and/or the revenue is recognized. The costs include, but are not limited to, volume allowances and rebates, promotional allowances, and cooperative advertising programs. These costs are recorded at the later of (i) the time of sale or (ii) the implementation of the program based on management’s best estimates. Estimates are based on historical and projected experience for each type of program or customer. Volume allowances are accrued based on our estimates of customer volume achievement and other factors incorporated into customer agreements, such as new product purchases, store sell-through, merchandising support, and customer training. Management adjusts accruals when circumstances indicate (typically as a result of a change in volume expectations).

We ship some of our products to customers’ distribution centers on a consignment basis. We retain title to our products stored at the distribution centers. As our products are removed from the distribution centers by retailers and

shipped to retailers’ stores, title passes from us to the retailers. At that time, we invoice the retailers and recognize revenue for these consignment transactions. We do not offer a right of return for products shipped to the retailers’ stores from the distribution centers.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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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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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Cash Flows [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 108	$ 22
Adjustments to net income:
Depreciation and amortization	31	28
Loss due to settlement	0	6
Deferred Income Tax Expense (Benefit)	9	(2)
Other adjustments, net	5	9
Receivables	(47)	(8)
Inventories	(23)	(76)
Prepaid expenses and other current assets	1	(2)
Accounts payable and accrued liabilities	0	(66)
Income taxes payable, net of receivables	(22)	30
Net cash provided by (used in) operating activities	105	(119)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(41)	(114)
Proceeds from sales of assets	0	1
Net cash used in investing activities	(41)	(113)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of cash dividend	(19)	(17)
Repurchase of common stock	(13)	0
Other financing activities	(6)	(10)
Net cash used in financing activities	(39)	(27)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(3)	3
Net increase (decrease) in cash, cash equivalents, and restricted cash	22	(257)
Cash, cash equivalents and restricted cash at beginning of period	222	383
Cash, cash equivalents and restricted cash at end of period	244	126
Income Taxes Paid, Net	10	33
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	7	7
Capital Expenditures Incurred but Not yet Paid	$ 7	$ 28

Inventories (Tables)

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

The major types of inventories (work in process is not material and is included in semi-finished inventory) are as follows (dollar amounts in millions):


	March 31, 2024		December 31, 2023
Logs	$	97	$	81
Other raw materials	46		53
Semi-finished inventories	27		27
Finished products	228		217
Total Inventories	$	398	$	378

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill [Line Items]

Schedule of Intangible Assets and Goodwill [Table Text Block]

Changes in goodwill and other intangible assets for the three months ended March 31, 2024 are provided in the following table (dollar amounts in millions):


	Timber Licenses1		Goodwill		Developed Technology
Beginning balance December 31, 2023	$	25	$	19	$	7


Amortization	(1)		—		—
Ending balance March 31, 2024	$	24	$	19	$	7

- 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

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+ Details

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Nov. 30, 2022
Senior unsecured notes, maturing 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 319	$ 314
Debt Instrument, Interest Rate, Stated Percentage	3.625%
Carrying value of long term debt	$ 347
Line of Credit \| Revolving Credit Facility [Member] \| Amended Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum borrowing capacity			$ 550
Long-term debt, gross	$ 0
Letter of Credit Sub-limit \| Revolving Credit Facility [Member] \| Amended Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum borrowing capacity			$ 60

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill and other intangible assets	$ 19	$ 19
Productive Land [Member]
Goodwill [Line Items]
Timber and Timberlands	24	25
Amortization of Intangible Assets	(1)
Developed Technology Rights [Member]
Goodwill [Line Items]
Amortization of Intangible Assets	0
Finite-Lived Intangible Assets, Net	$ 7	$ 7

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
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- 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

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 244	$ 222
Receivables, net of allowance for doubtful accounts of $2 as of March 31, 2024 and December 31, 2023.	180	155
Inventories	398	378
Prepaid expenses and other current assets	19	23
Total current assets	842	778
Timber and timberlands	31	32
Property, plant, and equipment, net	1,533	1,540
Operating lease assets	24	25
Goodwill and other intangible assets	27	27
Investments in and advances to affiliates	6	5
Other assets	20	20
Deferred Tax Assets, Deferred Income	5	11
Total assets	2,487	2,437
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	242	254
Accrued Income Taxes, Current	11	5
Total current liabilities	254	259
Long-term Debt and Lease Obligation	347	347
Deferred Income Tax Liabilities, Net	162	162
Operating Lease liability, noncurrent	24	25
Loss Contingency Accrual	25	25
Other long-term liabilities	57	61
Liabilities	869	880
Stockholders' equity:
Common stock, $1 par value, 200 shares authorized; 88 and 72 shares issued and outstanding, respectively, as of March 31, 2024 and December 31, 2023	88	88
Additional paid-in capital	465	465
Retained earnings	1,555	1,479
Treasury stock, 16 shares at cost as of March 31, 2024 and December 31, 2023	(386)	(386)
Accumulated comprehensive loss	(104)	(89)
Total stockholders' equity	1,617	1,557
Total liabilities and stockholders' equity	$ 2,487	$ 2,437

Other Operating and Non-Operating Income (Tables)

3 Months Ended

Mar. 31, 2024

Nonoperating Income (Expense) [Abstract]

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

Other operating credits and charges, net, is comprised of the following components (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023

Reorganization charges	(2)		(2)





Other	3		(3)
Other operating credits and charges, net	$	1	$	(5)

Schedule of Other Nonoperating Income (Expense)

Other non-operating items is comprised of the following components (dollar amounts in millions):


	Three Months Ended March 31,
	2024		2023











Pension settlement charges	$	—	$	(6)

Foreign currency gain (loss)	1		(3)
Other	—		1
Other non-operating items	$	1	$	(8)

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For interim periods, we recognize income tax expense by applying the estimated annual effective income tax rate to year-to-date results unless this method does not result in a reliable estimate of year-to-date income tax expense. Each period, the income tax accrual is adjusted to the latest estimate, and the difference from the previously accrued year-to-date balance is adjusted in the current quarter. Changes in profitability estimates in various jurisdictions will impact our quarterly effective income tax rates. The provision for income taxes for the three months ended March 31, 2024 and 2023 reflected an estimated annual effective tax rate of 25% and 28%, respectively, excluding discrete items discussed below. The total effective tax rate for the three months ended March 31, 2024 was 28%, compared to 5% for the comparable period in 2023. We recognized a net discrete tax expense of $4 million and a net discrete tax benefit of $5 million in the three months ended March 31, 2024 and 2023, respectively. The net discrete tax expense and benefit primarily relates to an excess tax benefit from stock-based compensation and inflationary tax adjustments in certain South American entities.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Accumulated Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Beginning Balance	$ (89)	$ (99)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		4
Foreign currency translation adjustments	(15)	15
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	4
Ending Balance	(104)	(80)
Translation Adjustments
Beginning Balance	(89)	(94)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		0
Foreign currency translation adjustments	(15)	15
Ending Balance	(104)	(79)
Other
Beginning Balance	(1)	(5)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		4
Foreign currency translation adjustments	0	0
Ending Balance	$ 0	$ (1)

- Definition

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

+ References + Details

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

Nature of Operations and Basis for Presentation	3 Months Ended
Nature of Operations and Basis for Presentation	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis for Presentation	NATURE OF OPERATIONS AND BASIS FOR PRESENTATION Nature of Operations Louisiana-Pacific Corporation and our subsidiaries are a leading provider of high-performance building solutions that meet the demands of builders, remodelers, and homeowners worldwide. Serving the new home construction, repair and remodeling, and outdoor structures markets, we have leveraged our expertise to become an industry leader known for innovation, quality, reliability, and sustainability. The principal customers for our building solutions are retailers, wholesalers, and home building and industrial businesses in North America and South America, and we make limited sales to customers in Asia, Australia, and Europe. The Company operates 22 plants across the U.S., Canada, Chile, and Brazil, in certain cases, through foreign subsidiaries, 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. See "Note 14 - Selected Segment Data" below for further information regarding our products and segments. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal and recurring nature. These Condensed Consolidated Financial Statements and related Notes should be read in conjunction with our annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 14, 2024 (2023 Annual Report on Form 10-K). Results of operations for interim periods are not necessarily indicative of results to be expected for an entire year. The Condensed Consolidated Financial Statements include the accounts of LP and our controlled subsidiaries. All intercompany transactions, profits, and balances have been eliminated. All dollar amounts included in tables in the Notes are in millions except per share amounts.

Receivables (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

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

Receivables consisted of the following (dollar amounts in millions):


	March 31, 2024		December 31, 2023
Trade receivables	$	148	$	104
Other receivables	26		26
Income tax receivable	8		27
Allowance for doubtful accounts	(2)		(2)
Total Receivables	$	180	$	155

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	May 07, 2024
Entity Information [Line Items]
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common Stock, $1 par value
Entity Tax Identification Number	93-0609074
Trading Symbol	LPX
Entity Registrant Name	LOUISIANA-PACIFIC CORPORATION
Entity Address, Address Line One	1610 West End Avenue
Entity Address, Address Line Two	Suite 200
City Area Code	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
City Area Code	(615)
Local Phone Number	986 - 5600
Entity Central Index Key	0000060519
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
Entity File Number	1-7107
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		71,671,837
Security Exchange Name	NYSE
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes

Selected Segment Data (Details) $ in Millions	3 Months Ended
Selected Segment Data (Details) $ in Millions	Mar. 31, 2024 USD ($) operatingSegment	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments \| operatingSegment	3
Net sales	$ 724	$ 584
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	108	22
Net income attributed to non-controlling interest	0	(1)
Income from continuing operations attributed to LP	108	21
Provision for income taxes	41	1
Depreciation and amortization	31	28
Stock-based compensation expense	(6)	(4)
Other operating income (expense) exclusive of product discontinuance charges	0	5
Business exit charges	(1)	0
Interest Expense	4	3
Investment income, net of adjustments	6	5
Investment income	6	5
Loss due to settlement	0	6
Other non-operating items	1	(3)
Adjusted EBITDA	182	66
Value-add [Member]
Segment Reporting Information [Line Items]
Net sales	579	487
Siding [Member]
Segment Reporting Information [Line Items]
Net sales	361	331
Adjusted EBITDA	90	67
Siding [Member] \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	361	331
Siding [Member] \| Value-add [Member]
Segment Reporting Information [Line Items]
Net sales	359	329
OSB [Member]
Segment Reporting Information [Line Items]
Net sales	313	189
Adjusted EBITDA	90	5
OSB [Member] \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	313	189
OSB [Member] \| Value-add [Member]
Segment Reporting Information [Line Items]
Net sales	174	104
South America
Segment Reporting Information [Line Items]
Net sales	47	55
Adjusted EBITDA	10	12
South America \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	47	55
South America \| Value-add [Member]
Segment Reporting Information [Line Items]
Net sales	46	54
Other [Member]
Segment Reporting Information [Line Items]
Net sales	3	8
Adjusted EBITDA	(1)	(9)
Other [Member] \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	3	8
Other [Member] \| Value-add [Member]
Segment Reporting Information [Line Items]
Net sales	0	0
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (7)	$ (9)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 108	$ 108	$ 21	$ 21
Basic (in shares)	72		72
Dilutive effect of employee stock plans	0		0
Diluted (in shares)	72		72
Net income per share, basic (in dollars per share)	$ 1.49		$ 0.29
Net income per share, diluted (in dollars per share)	$ 1.48		$ 0.29

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

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

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-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Commiments and Contingencies

3 Months Ended

Mar. 31, 2024

Legal and Environmental Matters [Abstract]

Commiments and Contingencies

COMMITMENTS AND CONTINGENCIES

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


	March 31, 2024		December 31, 2023
Environmental reserves	$	26	$	26
Other reserves	—		—
Total contingencies	26		26
Current portion (included in Accounts payable and accrued liabilities)	(1)		(1)
Long-term portion	$	25	$	25

Estimates of our loss contingencies are based on various assumptions and judgments. Due to the numerous uncertainties and variables associated with these assumptions and judgments, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. We regularly monitor our estimated exposure to contingencies and, as additional information becomes known, may change our estimates significantly. While no estimate of the range of any such change can be made at this time, the amount that we may ultimately pay in connection with these matters could materially exceed, in either the near term or the longer term, the amounts accrued to date. Our estimates of our loss contingencies do not reflect potential future recoveries from insurance carriers except to the extent that recovery may, from time to time, be deemed probable as a result of an insurer’s agreement to payment terms.

Environmental Matters

We maintain a reserve for undiscounted estimated environmental loss contingencies. This reserve is primarily for estimated future costs of remediation of hazardous or toxic substances at numerous sites currently or previously owned by the Company. Our estimates of our environmental loss contingencies are based on various assumptions and judgments, the specific nature of which varies based on the particular facts and circumstances surrounding each environmental loss contingency. These estimates typically reflect assumptions and judgments as to the probable nature, magnitude, and timing of the required investigation, remediation, and/or monitoring activities and the probable cost of these activities, and in some cases, reflect assumptions and judgments as to the obligation or willingness and ability of third parties to bear a proportionate or allocated share of the cost of these activities. Due to the numerous uncertainties and variables associated with these assumptions and judgments, and the effects of changes in governmental regulation and environmental technologies, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. We regularly monitor our estimated exposure to environmental loss contingencies and, as additional information becomes known, may change our estimates significantly.

Other Proceedings

From time to time, we and our subsidiaries are parties to certain legal proceedings arising in our ordinary course of business. Based on the information currently available, management believes the resolution of such ongoing and future proceedings will not have a material effect on our financial position, results of operations, cash flows, or liquidity.