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Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 26	$ 27
Accrual for Environmental Loss Contingencies, Gross	27	28
Current portion (included in accounts payable and accrued liabilities)	(1)	(1)
Long-term portion	26	27
Environmental reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 27	$ 28

- 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

Other Operating and Non-Operating Income

9 Months Ended

Sep. 30, 2025

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024

Reorganization charges	$	(1)	$	(1)	$	(6)	$	(1)
Legal settlement	—		—		—		3

Product-line discontinuance charges	(1)		—		(1)		—


Other	(1)		—		1		—
Other operating credits and charges, net	$	(2)	$	(1)	$	(6)	$	2

Other non-operating items

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024













Foreign currency gain (loss)	$	(1)	$	(4)	$	(13)	$	2

Other non-operating items	$	(1)	$	(4)	$	(13)	$	2

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Net sales	$ 663	$ 722	$ 2,141	$ 2,261
Cost of sales	(534)	(530)	(1,637)	(1,591)
Gross Profit	129	193	504	669
Selling, general, and administrative expenses	(95)	(75)	(250)	(215)
Other operating credits and charges, net	(2)	(1)	(6)	2
Income from operations	18	116	218	455
Loss on impairment	13	0	31	0
Non-operating income (expense):
Interest expense	(4)	(4)	(11)	(12)
Investment income	5	6	12	17
Other non-operating income (expense)	(1)	(4)	(13)	2
Income before income taxes	18	113	207	462
Provision for income taxes	(9)	(23)	(54)	(117)
Equity in unconsolidated affiliate	0	0	1	12
Net income	$ 9	$ 90	$ 154	$ 358
Net income per share of common stock:
Net income per share, basic (in dollars per share)	$ 0.13	$ 1.28	$ 2.20	$ 5.01
Net income per share, diluted (in dollars per share)	$ 0.13	$ 1.28	$ 2.20	$ 5.00
Average shares of common stock used to compute net income per share:
Basic (in shares)	70	70	70	71
Diluted (in shares)	70	71	70	72

Selected Segment Data - Net Income To Adjusted EBITA Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Segment Reporting [Abstract]
Net income	$ 9	$ 90	$ 154	$ 358
Provision for income taxes	9	23	54	117
Depreciation and amortization	36	31	106	93
Other Selling, General and Administrative Expense	12	4	24	15
Other operating income (expense) exclusive of product discontinuance charges	1	1	5	2
Loss on impairment	1	0	(1)	(14)
Interest Expense	4	4	11	12
Investment income	(5)	(6)	(12)	(17)
Other Nonoperating Income Expense, Net of Debt Extinguishment	1	4	13	(2)
Adjusted EBITDA	82	153	386	564
Loss on impairment	$ 13	$ 0	$ 31	$ 0

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Net income	$ 9	$ 90	$ 154	$ 358
Other comprehensive income (loss)
Comprehensive income	5	99	168	347
Foreign currency translation adjustments
Other comprehensive income (loss)
Foreign currency translation adjustments	$ (4)	$ 9	$ 14	$ (11)

- Definition

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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- Definition

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

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- Definition

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

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+ Details

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2025

Legal and Environmental Matters [Abstract]

Schedule of Loss Contingencies by Contingency

Reserves for various contingent liabilities were as follows (dollar amounts in millions):


	September 30, 2025		December 31, 2024
Environmental reserves	$	27	$	28

Total contingencies	27		28
Current portion (included in accounts payable and accrued liabilities)	(1)		(1)
Long-term portion	$	26	$	27

Supplemental Balance Sheet Information - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Logs	$ 58	$ 64
Other raw materials	43	41
Semi-finished inventories	37	33
Finished products	220	220
Inventories	$ 357	$ 357

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Estimated annual tax rate			27.00%	25.00%
Provision for income taxes	$ 9	$ 23	$ 54	$ 117
Effective Income Tax Rate Reconciliation, Percent	52.00%		26.00%	25.00%
Effective Income Tax Rate Reconciliation, Percent 1		20.00%
Income Tax Expense (Benefit), Discrete Items			$ (2)	$ 1

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue

9 Months Ended

Sep. 30, 2025

Disaggregation of Revenue [Abstract]

Revenue

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 13. 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 September 30, 2025
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	440	$	—	$	3	$	—	$	443
OSB - Structural Solutions	—		105		35		—		140
	440		105		38		—		583
Commodity
OSB - commodity	—		71		—		—		71
Other
Other products	2		3		1		2		9
	$	443	$	179	$	39	$	2	$	663



	Three Months Ended September 30, 2024
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	418	$	—	$	6	$	—	$	423
OSB - Structural Solutions	—		136		40		—		175
	418		136		46		—		599
Commodity
OSB - commodity	—		112		—		—		112
Other
Other products	3		5		1		2		11
	$	420	$	253	$	47	$	2	$	722

	Nine Months Ended September 30, 2025
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	1,298	$	—	$	16	$	—	$	1,313
OSB - Structural Solutions	—		391		116		—		507
	1,298		391		131		—		1,820
Commodity
OSB - commodity	—		295		—		—		295
Other
Other products	7		11		3		6		27
	$	1,305	$	696	$	134	$	6	$	2,141

	Nine Months Ended September 30, 2024
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	1,190	$	—	$	17	$	—	$	1,207
OSB - Structural Solutions	—		507		119		—		626
	1,190		507		136		—		1,833
Commodity
OSB - commodity	—		395		—		—		395
Other
Other products	7		15		4		7		33
	$	1,196	$	917	$	140	$	7	$	2,261

Revenue is recognized when obligations under the terms of contracts (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 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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Disaggregation of Revenue [Line Items]
Net sales	$ 663	$ 722	$ 2,141	$ 2,261
Siding
Disaggregation of Revenue [Line Items]
Net sales	443	420	1,305	1,196
OSB
Disaggregation of Revenue [Line Items]
Net sales	179	253	696	917
LPSA
Disaggregation of Revenue [Line Items]
Net sales	39	47	134	140
Other
Disaggregation of Revenue [Line Items]
Net sales	2	2	6	7
Value-add
Disaggregation of Revenue [Line Items]
Net sales	583	599	1,820	1,833
Value-add \| Siding
Disaggregation of Revenue [Line Items]
Net sales	440	418	1,298	1,190
Value-add \| OSB
Disaggregation of Revenue [Line Items]
Net sales	105	136	391	507
Value-add \| LPSA
Disaggregation of Revenue [Line Items]
Net sales	38	46	131	136
Value-add \| Other
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Value-add \| Siding Solutions
Disaggregation of Revenue [Line Items]
Net sales	443	423	1,313	1,207
Value-add \| Siding Solutions \| Siding
Disaggregation of Revenue [Line Items]
Net sales	440	418	1,298	1,190
Value-add \| Siding Solutions \| OSB
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Value-add \| Siding Solutions \| LPSA
Disaggregation of Revenue [Line Items]
Net sales	3	6	16	17
Value-add \| Siding Solutions \| Other
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Value-add \| OSB - Structural Solutions
Disaggregation of Revenue [Line Items]
Net sales	140	175	507	626
Value-add \| OSB - Structural Solutions \| Siding
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Value-add \| OSB - Structural Solutions \| OSB
Disaggregation of Revenue [Line Items]
Net sales	105	136	391	507
Value-add \| OSB - Structural Solutions \| LPSA
Disaggregation of Revenue [Line Items]
Net sales	35	40	116	119
Value-add \| OSB - Structural Solutions \| Other
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Commodity \| OSB - commodity
Disaggregation of Revenue [Line Items]
Net sales	71	112	295	395
Commodity \| OSB - commodity \| Siding
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Commodity \| OSB - commodity \| OSB
Disaggregation of Revenue [Line Items]
Net sales	71	112	295	395
Commodity \| OSB - commodity \| LPSA
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Commodity \| OSB - commodity \| Other
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other \| Other products
Disaggregation of Revenue [Line Items]
Net sales	9	11	27	33
Other \| Other products \| Siding
Disaggregation of Revenue [Line Items]
Net sales	2	3	7	7
Other \| Other products \| OSB
Disaggregation of Revenue [Line Items]
Net sales	3	5	11	15
Other \| Other products \| LPSA
Disaggregation of Revenue [Line Items]
Net sales	1	1	3	4
Other \| Other products \| Other
Disaggregation of Revenue [Line Items]
Net sales	$ 2	$ 2	$ 6	$ 7

Product Warranties

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Product Warranties

PRODUCT WARRANTIES

Warranties are offered on the sale of most of our products, and an accrual is recorded for estimated future claims. These accruals are based upon historical experience and management’s estimate of future claim levels. The activity in the warranty reserves is summarized in the following table for the three and nine months ended September 30, 2025, and 2024, (dollar amounts in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Beginning balance	$	6	$	8	$	6	$	8
Change in warranty provision	1		(1)		1		—

Payments made	—		(1)		(1)		(1)
Total warranty reserves	6		7		6		7
Current portion of warranty reserves (included in accounts payable and accrued liabilities)	(2)		(2)		(2)		(2)
Long-term portion of warranty reserves (included in other long-term liabilities)	$	5	$	5	$	5	$	5

Warranty and other product-related claims continue to be monitored by management, and as of September 30, 2025, the warranty reserve balances associated with these matters are considered adequate to cover future warranty payments. However, additional adjustments may be required in the future.

Impairments of Long-Lived Assets	9 Months Ended
Impairments of Long-Lived Assets	Sep. 30, 2025
Asset Impairment Charges [Abstract]
Impairments of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS The carrying values of our long-lived assets are reviewed for potential impairments, and adequate support is believed by management to exist for each asset’s carrying value based on anticipated cash flows derived from estimates of future demand, pricing, and production costs, assuming certain levels of planned capital expenditures. However, if demand and pricing for our products decline significantly below cycle-average levels, if capital is allocated to alternative projects, or if changes occur in the wood supply for mills, future impairment charges may be required. Potential asset dispositions are also periodically reviewed, taking into account current and anticipated economic and industry conditions, the strategic plan, and other relevant factors. A decision to dispose of specific assets may require assumptions regarding the transaction structure of the disposition to estimate the net sales proceeds, which could be lower than prior estimates of undiscounted future net cash flows. As a result, impairment charges may be necessary in connection with such dispositions. During the third quarter ended September 30, 2025, $13 million in non-cash, pre-tax impairment charges were recorded related to equipment that will not be utilized in future operations. During the second quarter ended June 30. 2025, $17 million in non-cash, pre-tax impairment charges were recorded. These included $11 million related to acquired equipment that will not be utilized in future operations, $4 million related to property, plant, and equipment associated with a facility closure, and $2 million primarily related to an operating lease asset associated with a previously closed facility.

Selected Segment Data - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Segment Reporting Information [Line Items]
Net sales	$ 663	$ 722	$ 2,141	$ 2,261
Cost of sales	(534)	(530)	(1,637)	(1,591)
Selling, general, and administrative expenses	(95)	(75)	(250)	(215)
Depreciation and amortization	36	31	106	93
Other charges	12	5	25	17
Adjusted EBITDA	82	153	386	564
Allowance for doubtful accounts					$ (1)
Siding
Segment Reporting Information [Line Items]
Net sales	443	420	1,305	1,196
OSB
Segment Reporting Information [Line Items]
Net sales	179	253	696	917
LPSA
Segment Reporting Information [Line Items]
Net sales	39	47	134	140
Operating Segments
Segment Reporting Information [Line Items]
Net sales	661	720	2,135	2,253
Cost of sales	(531)	(527)	(1,628)	(1,583)
Selling, general, and administrative expenses	(75)	(61)	(206)	(174)
Depreciation and amortization	36	31	106	92
Other charges	5	2	12	6
Adjusted EBITDA	95	165	419	594
Operating Segments \| Siding
Segment Reporting Information [Line Items]
Net sales	443	420	1,305	1,196
Cost of sales	(301)	(280)	(890)	(825)
Selling, general, and administrative expenses	(48)	(38)	(133)	(113)
Depreciation and amortization	20	19	60	55
Other charges	3	1	6	4
Adjusted EBITDA	117	123	348	318
Operating Segments \| OSB
Segment Reporting Information [Line Items]
Net sales	179	253	696	917
Cost of sales	(203)	(215)	(643)	(656)
Selling, general, and administrative expenses	(18)	(17)	(52)	(47)
Depreciation and amortization	14	11	40	33
Other charges	1	1	4	2
Adjusted EBITDA	(27)	33	46	249
Operating Segments \| LPSA
Segment Reporting Information [Line Items]
Net sales	39	47	134	140
Cost of sales	(27)	(32)	(95)	(101)
Selling, general, and administrative expenses	(9)	(6)	(21)	(14)
Depreciation and amortization	2	1	6	4
Other charges	0	0	2	0
Adjusted EBITDA	5	9	25	29
Other
Segment Reporting Information [Line Items]
Net sales	2	2	6	7
Cost of sales	(3)	(2)	(9)	(8)
Selling, general, and administrative expenses	(20)	(15)	(44)	(41)
Depreciation and amortization	0	0	0	0
Other charges	8	3	13	10
Adjusted EBITDA	$ (13)	$ (12)	$ (33)	$ (32)

Supplemental Balance Sheet Information - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade accounts payable	$ 126	$ 139
Salaries and wages payable	80	80
Accrued customer incentives	52	48
Taxes other than income taxes	8	4
Current portion of operating lease liabilities	8	8
Other accrued liabilities	6	9
Total accounts payable and accrued liabilities	$ 280	$ 287

Other Operating and Non-Operating Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Nonoperating Income (Expense) [Abstract]
Reorganization charges	$ (1)	$ (1)	$ (6)	$ (1)
Legal settlement	0	0	0	3
Product-line discontinuance charges	(1)	0	(1)	0
Other	(1)	0	1	0
Other operating credits and charges, net	(2)	(1)	(6)	2
Foreign currency gain (loss)	(1)	(4)	(13)	2
Other non-operating items	$ (1)	$ (4)	$ (13)	$ 2

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Supplemental Balance Sheet Information - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 3,595	$ 3,441
Accumulated depreciation	(1,926)	(1,849)
Property, plant, and equipment, net	1,669	1,592
Land, land improvements, and logging roads, net of road amortization
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	221	217
Buildings
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	511	504
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	2,545	2,472
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 318	$ 248

Selected Segment Data (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information regarding the Company’s business segments is presented below (dollar amounts in millions):


	Three Months Ended September 30, 2025
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	443	$	179	$	39	$	661	$	2	$	663
Cost of sales	(301)		(203)		(27)		(531)		(3)		(534)
Selling, general, and administrative expenses	(48)		(18)		(9)		(75)		(20)		(95)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	20		14		2		36		—		36
Other charges1	3		1		—		5		8		12
Adjusted EBITDA	$	117	$	(27)	$	5	$	95	$	(13)	$	82
	Three Months Ended September 30, 2024
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	420	$	253	$	47	$	720	$	2	$	722
Cost of sales	(280)		(215)		(32)		(527)		(2)		(530)
Selling, general, and administrative expenses	(38)		(17)		(6)		(61)		(15)		(75)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	19		11		1		31		—		31
Other charges1	1		1		—		2		3		5
Adjusted EBITDA	$	123	$	33	$	9	$	165	$	(12)	$	153
	Nine Months Ended September 30, 2025
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	1,305	$	696	$	134	$	2,135	$	6	$	2,141
Cost of sales	(890)		(643)		(95)		(1,628)		(9)		(1,637)
Selling, general, and administrative expenses	(133)		(52)		(21)		(206)		(44)		(250)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	60		40		6		106		—		106
Other charges1	6		4		2		12		13		25
Adjusted EBITDA	$	348	$	46	$	25	$	419	$	(33)	$	386
	Nine Months Ended September 30, 2024
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	1,196	$	917	$	140	$	2,253	$	7	$	2,261
Cost of sales	(825)		(656)		(101)		(1,583)		(8)		(1,591)
Selling, general, and administrative expenses	(113)		(47)		(14)		(174)		(41)		(215)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	55		33		4		92		—		93
Other charges1	4		2		—		6		10		17
Adjusted EBITDA	$	318	$	249	$	29	$	594	$	(32)	$	564

1 Other charges includes stock compensation and income from equity in unconsolidated affiliates.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	9	$	90	$	154	$	358
Add (deduct):



Provision for income taxes	9		23		54		117
Depreciation and amortization	36		31		106		93
Stock-based compensation expense	12		4		24		15
Loss on impairment	13		—		31		—
Other operating credits and charges, net	1		1		5		2
Business exit credits and charges	1		—		1		(14)

Interest expense	4		4		11		12
Investment income	(5)		(6)		(12)		(17)

Other non-operating items	1		4		13		(2)
Adjusted EBITDA	$	82	$	153	$	386	$	564

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


	September 30, 2025		December 31, 2024
Identifiable Assets
Siding	$	1,380	$	1,319
OSB	543		554
LPSA	168		145
Other	559		551
Total assets	$	2,649	$	2,569

Selected Segment Data - Identifiable Assets by Segment (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Assets	$ 2,649	$ 2,569
Siding
Segment Reporting Information [Line Items]
Assets	1,380	1,319
OSB
Segment Reporting Information [Line Items]
Assets	543	554
LPSA
Segment Reporting Information [Line Items]
Assets	168	145
Other
Segment Reporting Information [Line Items]
Assets	$ 559	$ 551

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 154	$ 358
Adjustments to net income:
Depreciation and amortization	106	93
Loss on impairment	31	0
Employee Benefits and Share-Based Compensation	24	15
Deferred taxes	16	(1)
Other adjustments, net	12	(17)
Receivables	(26)	(6)
Foreign currency remeasurement and transaction loss (gain)	(8)	2
Inventories	(12)	4
Prepaid expenses and other current assets	(3)	(11)
Accounts payable and accrued liabilities	0	28
Income taxes payable, net of receivables	6	39
Net cash provided by operating activities	315	500
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(216)	(121)
Investment in affiliates	0	(17)
Other investing activities, net	0	(16)
Net cash used in investing activities	(216)	(122)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of cash dividend	(58)	(56)
Repurchase of common stock	(61)	(188)
Other financing activities	(5)	(8)
Net cash used in financing activities	(124)	(252)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1	(2)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(23)	124
Cash, cash equivalents and restricted cash at beginning of period	340	222
Cash, cash equivalents and restricted cash at end of period	316	346
Cash paid for income taxes, net	31	80
Cash paid for interest, net	14	14
Unpaid capital expenditures	$ 22	$ 17

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.28	$ 0.28	$ 0.28	$ 0.26	$ 0.26	$ 0.26

Product Warranties (Tables)

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The activity in the warranty reserves is summarized in the following table for the three and nine months ended September 30, 2025, and 2024, (dollar amounts in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Beginning balance	$	6	$	8	$	6	$	8
Change in warranty provision	1		(1)		1		—

Payments made	—		(1)		(1)		(1)
Total warranty reserves	6		7		6		7
Current portion of warranty reserves (included in accounts payable and accrued liabilities)	(2)		(2)		(2)		(2)
Long-term portion of warranty reserves (included in other long-term liabilities)	$	5	$	5	$	5	$	5

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2025	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income	$ 9	$ 54	$ 91	$ 90	$ 160	$ 108	$ 154	$ 358
Weighted average common shares outstanding - basic	70			70			70	71
Dilutive effect of employee stock plans (in shares)	0			0			0	0
Shares used for diluted earnings per share (in shares)	70			71			70	72
Net income per share, basic (in dollars per share)	$ 0.13			$ 1.28			$ 2.20	$ 5.01
Net income per share, diluted (in dollars per share)	$ 0.13			$ 1.28			$ 2.20	$ 5.00

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Selected Segment Data

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Selected Segment Data

SELECTED SEGMENT DATA

The Company operates 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. The 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.

•The Siding segment serves diverse end markets with a broad product portfolio of engineered wood siding, trim, soffit, and fascia, 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).

•The 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 Sheathing, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP® FlameBlock® Fire-Rated Sheathing, and LP® TopNotch® 350 Durable Sub-Flooring) and LP® Oriented Strand Board.

•The LPSA segment manufactures and distributes 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.

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

Information regarding the Company’s business segments is presented below (dollar amounts in millions):


	Three Months Ended September 30, 2025
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	443	$	179	$	39	$	661	$	2	$	663
Cost of sales	(301)		(203)		(27)		(531)		(3)		(534)
Selling, general, and administrative expenses	(48)		(18)		(9)		(75)		(20)		(95)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	20		14		2		36		—		36
Other charges1	3		1		—		5		8		12
Adjusted EBITDA	$	117	$	(27)	$	5	$	95	$	(13)	$	82
	Three Months Ended September 30, 2024
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	420	$	253	$	47	$	720	$	2	$	722
Cost of sales	(280)		(215)		(32)		(527)		(2)		(530)
Selling, general, and administrative expenses	(38)		(17)		(6)		(61)		(15)		(75)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	19		11		1		31		—		31
Other charges1	1		1		—		2		3		5
Adjusted EBITDA	$	123	$	33	$	9	$	165	$	(12)	$	153
	Nine Months Ended September 30, 2025
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	1,305	$	696	$	134	$	2,135	$	6	$	2,141
Cost of sales	(890)		(643)		(95)		(1,628)		(9)		(1,637)
Selling, general, and administrative expenses	(133)		(52)		(21)		(206)		(44)		(250)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	60		40		6		106		—		106
Other charges1	6		4		2		12		13		25
Adjusted EBITDA	$	348	$	46	$	25	$	419	$	(33)	$	386
	Nine Months Ended September 30, 2024
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	1,196	$	917	$	140	$	2,253	$	7	$	2,261
Cost of sales	(825)		(656)		(101)		(1,583)		(8)		(1,591)
Selling, general, and administrative expenses	(113)		(47)		(14)		(174)		(41)		(215)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	55		33		4		92		—		93
Other charges1	4		2		—		6		10		17
Adjusted EBITDA	$	318	$	249	$	29	$	594	$	(32)	$	564

1 Other charges includes stock compensation and income from equity in unconsolidated affiliates.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	9	$	90	$	154	$	358
Add (deduct):



Provision for income taxes	9		23		54		117
Depreciation and amortization	36		31		106		93
Stock-based compensation expense	12		4		24		15
Loss on impairment	13		—		31		—
Other operating credits and charges, net	1		1		5		2
Business exit credits and charges	1		—		1		(14)

Interest expense	4		4		11		12
Investment income	(5)		(6)		(12)		(17)

Other non-operating items	1		4		13		(2)
Adjusted EBITDA	$	82	$	153	$	386	$	564

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


	September 30, 2025		December 31, 2024
Identifiable Assets
Siding	$	1,380	$	1,319
OSB	543		554
LPSA	168		145
Other	559		551
Total assets	$	2,649	$	2,569

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

- 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.

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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2025
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For interim periods, income tax expense is recognized by applying the estimated annual effective tax rate to year-to-date results, unless doing so does not yield a reliable estimate. Each period, the income tax accrual is updated based on the latest estimate, and any difference from the previously accrued year-to-date balance is recorded in the current quarter. Changes in profitability estimates across jurisdictions may affect quarterly effective tax rates. The provision for income taxes for the nine months ended September 30, 2025, and 2024, reflected estimated annual effective tax rates of 27% and 25%, respectively, excluding discrete items discussed below. The total tax provision for the three and nine months ended September 30, 2025, was $9 million and $54 million, respectively, compared to $23 million and $117 million for the corresponding periods in 2024, respectively. The effective tax rate, including discrete items, for the three and nine months ended September 30, 2025, was 52% and 26%, respectively, compared to 20% and 25% for the comparable periods in 2024, respective. During the nine months ended September 30, 2025, and 2024, we recognized net discrete tax benefits of $2 million and $1 million, respectively. The current year net tax benefit is primarily related to inflationary and foreign currency exchange-related effects, as well as stock-based compensation. The prior year net tax benefit related primarily to stock-based compensation. In 2021, the Organization for Economic Cooperation and Development (OECD) announced an Inclusive Framework on Base Erosion and Profit Shifting, including the Pillar Two Model Rules (Pillar Two), applicable to large multinational corporations. These rules establish a global per-country minimum tax of 15%. Although, the United States has not enacted legislation to adopt the Pillar Two framework, and future adoption remains uncertain, certain countries where our operations are conducted have enacted such legislation. Specifically, the Canadian government enacted legislation in 2024 implementing aspects of the OECD’s minimum tax rules under the Pillar Two framework, effective for the 2024 fiscal year, and proposed additional legislation to implement further aspects effective in the 2025 fiscal year. Additionally, in 2024, the Brazilian Congress approved legislation, effective in 2025, that is largely aligned with certain aspects of the OECD’s minimum tax rules under the Pillar Two framework. To date, no other jurisdictions in which LP operates have enacted Pillar Two legislation. At this time, Pillar Two legislation is not expected to have a material impact on the Company’s effective tax rate, consolidated results of operations, financial position, or cash flows. The Company will continue to monitor future developments related to Pillar Two legislation to assess any potential impact in the relevant jurisdictions. On July 4, 2025, H.R. 1, a bill to provide for reconciliation pursuant to title II of H. Con. Res. 14, informally known as the One Big Beautiful Bill Act (“The Tax Act”) was enacted in the U.S., introducing a series of corporate tax changes in the U.S., including significant provisions such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017, modifications to the international tax framework, and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented thereafter through 2027. The provisions of The Tax Act effective in 2025 include 100% bonus depreciation on qualified property and full expensing for research and development expenditures. The impacts of The Tax Act are reflected in our results for the nine months ended September 30, 2025, and have no material impact on our income tax expense or effective tax rate. We expect certain provisions of The Tax Act will decrease cash taxes paid in the current fiscal year and may change the timing of cash tax payments in future periods.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Supplemental Balance Sheet Information (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Receivables

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Receivables consisted of the following (dollar amounts in millions):


	September 30, 2025		December 31, 2024
Trade receivables	$	131	$	100
Income tax receivable	9		12
Other receivables	19		21
Allowance for doubtful accounts	(1)		(1)
Total Receivables	$	158	$	131

Schedule of Inventories

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


	September 30, 2025		December 31, 2024
Logs	$	58	$	64
Other raw materials	43		41
Semi-finished inventories	37		33
Finished products	220		220
Total Inventories	$	357	$	357

Schedule of Property, Plant and Equipment

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


	September 30, 2025		December 31, 2024
Land, land improvements, and logging roads, net of road amortization	$	221	$	217
Buildings	511		504
Machinery and equipment	2,545		2,472
Construction in progress	318		248
Property, plant, and equipment	3,595		3,441
Accumulated depreciation	(1,926)		(1,849)
Property, plant, and equipment, net	$	1,669	$	1,592

Schedule of Accounts Payable and Accrued Liabilities

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


	September 30, 2025		December 31, 2024
Trade accounts payable	$	126	$	139
Salaries and wages payable	80		80
Accrued customer incentives	52		48
Taxes other than income taxes	8		4
Current portion of operating lease liabilities	8		8
Other accrued liabilities	6		9
Total accounts payable and accrued liabilities	$	280	$	287

Schedule of Other Long-Term Liabilities


	September 30, 2025		December 31, 2024
Post-retirement obligations	$	6	$	7
Asset retirement obligations	9		9
Uncertain tax positions	13		13
Warranty reserves	5		5
Pension benefit obligation	1		2
Other	20		21
Total other long-term liabilities	$	55	$	57

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2025	Mar. 31, 2025	Dec. 31, 2024
Goodwill [Line Items]
Goodwill and other intangible assets	$ 19	$ 19		$ 19
Timber Licenses
Goodwill [Line Items]
Timber and Timberlands	21	21		23
Amortization of Intangible Assets		2
Developed Technology
Goodwill [Line Items]
Amortization of Intangible Assets	2	2
Finite-Lived Intangible Assets, Net	$ 4	$ 4		$ 7
Weighted average useful life	1 year	1 year	10 years

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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+ Details

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Changes in goodwill and other intangible assets for the nine months ended September 30, 2025 are provided in the following table (dollar amounts in millions):


	Timber Licenses1		Goodwill		Developed Technology
Beginning balance December 31, 2024	$	23	$	19	$	7


Amortization	(2)		—		(2)
Ending balance September 30, 2025	$	21	$	19	$	4

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

Product Warranties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Product Warranties (Details) - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 6	$ 8	$ 6	$ 8
Current portion of warranty reserves	(2)	(2)	(2)	(2)
Long-term portion of warranty reserves	5	5	5	5	$ 5
Standard and Extended Product Warranty Accrual, Decrease for Payments	0	1	1	1
Accrued to expense	1	(1)	1	0
Total warranty reserves	$ 6	$ 7	$ 6	$ 7

Accumulated Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2025

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

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated comprehensive loss is provided in the following table for the three and nine months ended September 30, 2025 and 2024 (dollar amounts in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Beginning Balance	$	(104)	$	(109)	$	(122)	$	(89)
Translation Adjustments	(4)		9		14		(11)

Ending Balance	$	(108)	$	(100)	$	(108)	$	(100)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2025
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

Earnings per Share

9 Months Ended

Sep. 30, 2025

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024




Net Income	$	9	$	90	$	154	$	358

Weighted average common shares outstanding - basic	70		70		70		71
Dilutive effect of employee stock plans	—		—		—		—
Shares used for diluted earnings per share	70		71		70		72
Net income per share of common stock:



Basic	$	0.13	$	1.28	$	2.20	$	5.01




Diluted	$	0.13	$	1.28	$	2.20	$	5.00

Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024




Net Income	$	9	$	90	$	154	$	358

Weighted average common shares outstanding - basic	70		70		70		71
Dilutive effect of employee stock plans	—		—		—		—
Shares used for diluted earnings per share	70		71		70		72
Net income per share of common stock:



Basic	$	0.13	$	1.28	$	2.20	$	5.01




Diluted	$	0.13	$	1.28	$	2.20	$	5.00

Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024	Nov. 30, 2022	Mar. 31, 2021
Senior unsecured notes, maturing 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of long term debt	$ 348
Debt, fair value	335	$ 323
Senior unsecured notes, maturing 2029 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate				3.625%
Amended Credit Facility \| Line of Credit \| Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum borrowing capacity	750		$ 550
Long-term debt, gross	0
Amended Credit Facility \| Letter of Credit Sub-limit \| Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum borrowing capacity	$ 75		$ 60

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2025
Fair Value Disclosures [Abstract]
Fair Value Measurements	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. 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. The net carrying value of the 3.625% Senior Notes due in 2029 (2029 Senior Notes) was $348 million as of September 30, 2025 and December 31, 2024. Based on market quotations, the fair value of the 2029 Senior Notes was estimated to be $335 million and $323 million as of September 30, 2025 and December 31, 2024, 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 March 2025, LP entered into the First Amendment to Second Amended and Restated Credit Agreement (the First Amendment) with American AgCredit, PCA, as administrative agent, CoBank, ACB, as letter of credit issuer, and the lenders and voting participants party thereto, which amends that certain Second Amended and Restated Credit Agreement (the Credit Agreement) that was entered into in November 2022. The First Amendment amended the Credit Agreement to (1) increase the aggregate principal amount for the credit facility (the Amended Credit Facility) from $550 million to $750 million, (2) increase the sub-limit for letters of credit from $60 million to $75 million, (3) change the interest rate for revolving borrowing, (4) change the capitalization ratio limit, and (5) extend the maturity date to March 26, 2032. As of September 30, 2025, there were no outstanding borrowings pursuant to the Amended Credit Facility.

- 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

Supplemental Balance Sheet Information - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024	Sep. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset retirement obligations	$ 9	$ 9
Uncertain tax positions	13	13
Warranty reserves	5	5	$ 5
Other	20	21
Other long-term liabilities	55	57
Post-retirement obligations
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension and post-retirement benefit obligations	6	7
Pension benefit obligation
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension and post-retirement benefit obligations	$ 1	$ 2

Selected Segment Data - Narrative (Details)	9 Months Ended
Selected Segment Data - Narrative (Details)	Sep. 30, 2025 operatingSegment
Segment Reporting [Abstract]
Number of Operating Segments	3

Supplemental Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Mar. 31, 2025	Sep. 30, 2025	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unpaid capital expenditures	$ 22	$ 32	$ 22	$ 17

Impairments of Long-Lived Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Impaired Long-Lived Assets Held and Used [Line Items]
Loss on impairment	$ (13)	$ 0	$ (31)	$ 0
Operating Lease, Impairment Loss	2
Property, Plant and Equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment charges related to property, plant, and equipment			$ 11
Impairment charges related to operating lease assets	$ 4

Accumulated Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,742	$ 1,658	$ 1,671	$ 1,557
Ending balance	1,739	1,666	1,739	1,666
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(104)	(109)	(122)	(89)
Ending balance	(108)	(100)	(108)	(100)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Foreign currency translation adjustments	$ (4)	$ 9	$ 14	$ (11)

- Definition

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

+ References

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Accumulated Comprehensive Loss

9 Months Ended

Sep. 30, 2025

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 and nine months ended September 30, 2025 and 2024 (dollar amounts in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Beginning Balance	$	(104)	$	(109)	$	(122)	$	(89)
Translation Adjustments	(4)		9		14		(11)

Ending Balance	$	(108)	$	(100)	$	(108)	$	(100)

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts		$ 1
Common stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	85,000,000	86,000,000
Common Stock, Shares, Outstanding	70,000,000	70,000,000
Treasury Stock, Shares	15,000,000	16,000,000

Nature of Operations and Basis for Presentation (Details)	Sep. 30, 2025 operatingPlant
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating Segments, Number Of Operating Plants	20

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2023		88,000,000
Treasury stock, common, beginning balance (in shares) at Dec. 31, 2023			16,000,000
Beginning balance at Dec. 31, 2023	$ 1,557	$ 88	$ (386)	$ 465	$ 1,479	$ (89)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	108				108
Dividends paid	(19)				(19)
Issuance of shares under stock plans	0		6	6
Taxes paid related to net settlement of stock-based awards	(6)		(6)
Purchase of stock (in shares)		0
Purchase of stock	(13)	$ 0			(13)
Compensation expense associated with stock-based compensation	6			6
Other comprehensive income (loss)	(15)					(15)
Ending balance (in shares) at Mar. 31, 2024		88,000,000
Ending balance at Mar. 31, 2024	1,617	$ 88	$ (386)	465	1,555	(104)
Treasury stock, common, ending balance (in shares) at Mar. 31, 2024			16,000,000
Beginning balance (in shares) at Dec. 31, 2023		88,000,000
Treasury stock, common, beginning balance (in shares) at Dec. 31, 2023			16,000,000
Beginning balance at Dec. 31, 2023	1,557	$ 88	$ (386)	465	1,479	(89)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	358
Ending balance (in shares) at Sep. 30, 2024		86,000,000
Ending balance at Sep. 30, 2024	1,666	$ 86	$ (386)	472	1,594	(100)
Treasury stock, common, ending balance (in shares) at Sep. 30, 2024			16,000,000
Beginning balance (in shares) at Mar. 31, 2024		88,000,000
Treasury stock, common, beginning balance (in shares) at Mar. 31, 2024			16,000,000
Beginning balance at Mar. 31, 2024	1,617	$ 88	$ (386)	465	1,555	(104)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	160				160
Dividends paid	(19)				(19)
Issuance of shares under stock plans	3		1	1
Taxes paid related to net settlement of stock-based awards	0		0
Purchase of stock (in shares)		(1,000,000)
Purchase of stock	(103)	$ (1)			(101)
Compensation expense associated with stock-based compensation	4			4
Other comprehensive income (loss)	(4)					(4)
Ending balance (in shares) at Jun. 30, 2024		87,000,000
Ending balance at Jun. 30, 2024	1,658	$ 87	$ (385)	471	1,595	(109)
Treasury stock, common, ending balance (in shares) at Jun. 30, 2024			16,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	90				90
Dividends paid	(18)				(18)
Issuance of shares under stock plans	0		$ 3	(3)
Taxes paid related to net settlement of stock-based awards	(4)		(4)
Purchase of stock (in shares)		1,000,000
Purchase of stock	(74)	$ (1)			(73)
Compensation expense associated with stock-based compensation	4			4
Other comprehensive income (loss)	9					9
Ending balance (in shares) at Sep. 30, 2024		86,000,000
Ending balance at Sep. 30, 2024	$ 1,666	$ 86	$ (386)	472	1,594	(100)
Treasury stock, common, ending balance (in shares) at Sep. 30, 2024			16,000,000
Beginning balance (in shares) at Dec. 31, 2024	70,000,000	86,000,000
Treasury stock, common, beginning balance (in shares) at Dec. 31, 2024	16,000,000		16,000,000
Beginning balance at Dec. 31, 2024	$ 1,671	$ 86	$ (386)	478	1,615	(122)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	91				91
Dividends paid	(20)				(20)
Issuance of shares under stock plans	0		3	3
Taxes paid related to net settlement of stock-based awards	(5)		(5)
Purchase of stock (in shares)		(1,000,000)
Purchase of stock	(62)	$ (1)			(61)
Compensation expense associated with stock-based compensation	5			5
Other comprehensive income (loss)	12					12
Ending balance (in shares) at Mar. 31, 2025		85,000,000
Ending balance at Mar. 31, 2025	$ 1,692	$ 85	$ (388)	480	1,625	(110)
Treasury stock, common, ending balance (in shares) at Mar. 31, 2025			15,000,000
Beginning balance (in shares) at Dec. 31, 2024	70,000,000	86,000,000
Treasury stock, common, beginning balance (in shares) at Dec. 31, 2024	16,000,000		16,000,000
Beginning balance at Dec. 31, 2024	$ 1,671	$ 86	$ (386)	478	1,615	(122)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 154
Ending balance (in shares) at Sep. 30, 2025	70,000,000	85,000,000
Ending balance at Sep. 30, 2025	$ 1,739	$ 85	$ (386)	500	1,649	(108)
Treasury stock, common, ending balance (in shares) at Sep. 30, 2025	15,000,000		15,000,000
Beginning balance (in shares) at Mar. 31, 2025		85,000,000
Treasury stock, common, beginning balance (in shares) at Mar. 31, 2025			15,000,000
Beginning balance at Mar. 31, 2025	$ 1,692	$ 85	$ (388)	480	1,625	(110)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	54				54
Dividends paid	(19)				(19)
Issuance of shares under stock plans	3		2	1
Taxes paid related to net settlement of stock-based awards	(1)		(1)
Purchase of stock (in shares)		0
Purchase of stock	0	$ 0			0
Compensation expense associated with stock-based compensation	7			7
Other comprehensive income (loss)	6					6
Ending balance (in shares) at Jun. 30, 2025		85,000,000
Ending balance at Jun. 30, 2025	1,742	$ 85	$ (386)	488	1,659	(104)
Treasury stock, common, ending balance (in shares) at Jun. 30, 2025			15,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9				9
Dividends paid	(19)				(19)
Issuance of shares under stock plans	0		$ 0	0
Taxes paid related to net settlement of stock-based awards	0		0
Purchase of stock (in shares)		0
Purchase of stock	0	$ 0			0
Compensation expense associated with stock-based compensation	$ 12			12
Other comprehensive income (loss)						(4)
Ending balance (in shares) at Sep. 30, 2025	70,000,000	85,000,000
Ending balance at Sep. 30, 2025	$ 1,739	$ 85	$ (386)	$ 500	$ 1,649	$ (108)
Treasury stock, common, ending balance (in shares) at Sep. 30, 2025	15,000,000		15,000,000

Commitments and Contingencies

9 Months Ended

Sep. 30, 2025

Legal and Environmental Matters [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Reserves for various contingent liabilities were as follows (dollar amounts in millions):


	September 30, 2025		December 31, 2024
Environmental reserves	$	27	$	28

Total contingencies	27		28
Current portion (included in accounts payable and accrued liabilities)	(1)		(1)
Long-term portion	$	26	$	27

Estimates of 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 are subject to substantial uncertainty. Estimated exposure to contingencies is regularly monitored, and as additional information becomes available, estimates may change significantly. Although no estimate of the range of any such change can be made at this time, the amount ultimately paid in connection with these matters could materially exceed, in either the near term or the longer term, the amounts accrued to date. Estimates of loss contingencies do not reflect potential future recoveries from insurance carriers, except to the extent that recovery is deemed probable based on an insurer’s agreement to payment terms.

Environmental Matters

A reserve is maintained for undiscounted estimated environmental loss contingencies. This reserve primarily covers estimated future costs for the remediation of hazardous or toxic substances at various sites currently or previously owned by the Company. Estimates of environmental loss contingencies are based on a range of assumptions and judgments, which vary depending on the specific facts and circumstances of each case. These estimates typically reflect management’s assumptions regarding the probable nature, magnitude, and timing of required investigation, remediation, and/or monitoring activities, as well as the probable costs associated with those activities. In some cases, estimates also consider the obligation, willingness, or ability of third parties to bear a proportionate or allocated share of the costs.

Due to the numerous uncertainties and variables associated with these assumptions and judgments-as well as the potential effects of changes in governmental regulations and environmental technologies-the precision and reliability of the resulting estimates are subject to substantial uncertainty. Estimated exposure to environmental loss contingencies is regularly monitored, and estimates may be revised significantly as additional information becomes available.

Other Proceedings

From time to time, the Company and its subsidiaries are parties to certain legal proceedings arising in our ordinary course of business. Based on currently available information, management does not believe that the resolution of such proceedings could reasonably be expected to have a material adverse effect on the Company’s financial position, results of operations, cash flows, or liquidity.

Nature of Operations and Basis for Presentation	9 Months Ended
Nature of Operations and Basis for Presentation	Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis for Presentation	NATURE OF OPERATIONS AND BASIS OF 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. We operate more than 20 manufacturing facilities across the U.S., Canada, Chile, and Brazil, in certain cases through foreign subsidiaries. References to “LP,” the “Company,” “we,” “our,” and “us” refer to Louisiana-Pacific Corporation and its consolidated subsidiaries as a whole. See “Note 13. Selected Segment Data” below for further information regarding our products and segments. Basis of Presentation The unaudited Condensed Consolidated Financial Statements presented here have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial reporting. As such, they do not include all the information and footnotes required by U.S. GAAP for complete consolidated financial statements. Management believes that all necessary adjustments for a fair presentation have been included and are of a normal and recurring nature. These Condensed Consolidated Financial Statements and the accompanying Notes should be reviewed in conjunction with our annual report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 19, 2025 (2024 Annual Report on Form 10-K). The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full fiscal year. The Condensed Consolidated Financial Statements include the accounts of LP and our consolidated subsidiaries. All intercompany transactions, profits, and balances have been eliminated.

Supplemental Balance Sheet Information - Schedule of Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade receivables	$ 131	$ 100
Income tax receivable	9	12
Other receivables	19	21
Allowance for doubtful accounts		(1)
Total Receivables	$ 158	$ 131

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 316	$ 340
Receivables, net of allowance for doubtful accounts of $1 as of September 30, 2025 and December 31, 2024	158	131
Inventories	357	357
Prepaid expenses and other current assets	31	27
Total current assets	862	855
Timber and timberlands	25	29
Property, plant, and equipment, net	1,669	1,592
Operating lease assets	23	25
Goodwill and other intangible assets	24	26
Investments in and advances to affiliates	17	17
Other assets	23	20
Deferred Tax Assets, Deferred Income	6	4
Total assets	2,649	2,569
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	280	287
Accrued Income Taxes, Current	14	11
Total current liabilities	294	299
Long-term Debt and Lease Obligation	348	348
Deferred Income Tax Liabilities, Net	166	145
Operating Lease liability, noncurrent	22	24
Loss Contingency Accrual	26	27
Other long-term liabilities	55	57
Liabilities	910	899
Stockholders' equity:
Common stock, $1 par value per share, 200 shares authorized; 85 shares issued and 70 shares issued and outstanding, respectively, as of September 30, 2025; and 86 shares issued and 70 shares issued and outstanding, respectively, as of December 31, 2024	85	86
Additional paid-in capital	500	478
Retained earnings	1,649	1,615
Treasury stock, 15 shares and 16 shares at cost as of September 30, 2025 and December 31, 2024, respectively	(386)	(386)
Accumulated comprehensive loss	(108)	(122)
Total stockholders' equity	1,739	1,671
Total liabilities and stockholders' equity	$ 2,649	$ 2,569

Revenue (Tables)

9 Months Ended

Sep. 30, 2025

Disaggregation of Revenue [Abstract]

Disaggregation of Revenue

The following tables present our reportable segment revenues, disaggregated by revenue source (dollar amounts in millions):


	Three Months Ended September 30, 2025
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	440	$	—	$	3	$	—	$	443
OSB - Structural Solutions	—		105		35		—		140
	440		105		38		—		583
Commodity
OSB - commodity	—		71		—		—		71
Other
Other products	2		3		1		2		9
	$	443	$	179	$	39	$	2	$	663



	Three Months Ended September 30, 2024
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	418	$	—	$	6	$	—	$	423
OSB - Structural Solutions	—		136		40		—		175
	418		136		46		—		599
Commodity
OSB - commodity	—		112		—		—		112
Other
Other products	3		5		1		2		11
	$	420	$	253	$	47	$	2	$	722

	Nine Months Ended September 30, 2025
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	1,298	$	—	$	16	$	—	$	1,313
OSB - Structural Solutions	—		391		116		—		507
	1,298		391		131		—		1,820
Commodity
OSB - commodity	—		295		—		—		295
Other
Other products	7		11		3		6		27
	$	1,305	$	696	$	134	$	6	$	2,141

	Nine Months Ended September 30, 2024
By product type and family:	Siding		OSB		LPSA		Other		Total
Value-add
Siding Solutions	$	1,190	$	—	$	17	$	—	$	1,207
OSB - Structural Solutions	—		507		119		—		626
	1,190		507		136		—		1,833
Commodity
OSB - commodity	—		395		—		—		395
Other
Other products	7		15		4		7		33
	$	1,196	$	917	$	140	$	7	$	2,261

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2025	Nov. 03, 2025
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	Sep. 30, 2025
Entity File Number	1-7107
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		69,643,461
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

Supplemental Balance Sheet Information

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Balance Sheet Information

SUPPLEMENTAL BALANCE SHEET INFORMATION

Receivables

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Receivables consisted of the following (dollar amounts in millions):


	September 30, 2025		December 31, 2024
Trade receivables	$	131	$	100
Income tax receivable	9		12
Other receivables	19		21
Allowance for doubtful accounts	(1)		(1)
Total Receivables	$	158	$	131

Other receivables as of September 30, 2025, and December 31, 2024, primarily consisted of sales tax receivables, vendor rebates, and other miscellaneous receivables.

Inventories

Inventories are valued at the lower of cost or net realizable value. Inventory cost includes materials, labor, and operating overhead. The first-in, first-out or average cost methods are used to value our inventories as of September 30, 2025. Inventory consisted of the following (dollar amounts in millions):


	September 30, 2025		December 31, 2024
Logs	$	58	$	64
Other raw materials	43		41
Semi-finished inventories	37		33
Finished products	220		220
Total Inventories	$	357	$	357

Property, Plant, and Equipment

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


	September 30, 2025		December 31, 2024
Land, land improvements, and logging roads, net of road amortization	$	221	$	217
Buildings	511		504
Machinery and equipment	2,545		2,472
Construction in progress	318		248
Property, plant, and equipment	3,595		3,441
Accumulated depreciation	(1,926)		(1,849)
Property, plant, and equipment, net	$	1,669	$	1,592

Accounts Payable and Accrued Liabilities

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


	September 30, 2025		December 31, 2024
Trade accounts payable	$	126	$	139
Salaries and wages payable	80		80
Accrued customer incentives	52		48
Taxes other than income taxes	8		4
Current portion of operating lease liabilities	8		8
Other accrued liabilities	6		9
Total accounts payable and accrued liabilities	$	280	$	287

Other accrued liabilities at September 30, 2025, and December 31, 2024, primarily consisted of accrued interest, workers' compensation liabilities, and warranty reserves. Additionally, trade accounts payable included $22 million and $32 million related to capital expenditures that had not yet been paid as of September 30, 2025, and December 31, 2024, respectively.

Other Long-Term Liabilities


	September 30, 2025		December 31, 2024
Post-retirement obligations	$	6	$	7
Asset retirement obligations	9		9
Uncertain tax positions	13		13
Warranty reserves	5		5
Pension benefit obligation	1		2
Other	20		21
Total other long-term liabilities	$	55	$	57

Other long-term liabilities at September 30, 2025 and December 31, 2024, consisted primarily of workers’ compensation liabilities and investment tax incentives associated with property, plant, and equipment. See “Note 11. Product Warranties” below for further information regarding our product warranty claims.

Other Operating and Non-Operating Income (Tables)

9 Months Ended

Sep. 30, 2025

Nonoperating Income (Expense) [Abstract]

Schedule of Other Operating Cost and Expense, by Component

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024

Reorganization charges	$	(1)	$	(1)	$	(6)	$	(1)
Legal settlement	—		—		—		3

Product-line discontinuance charges	(1)		—		(1)		—


Other	(1)		—		1		—
Other operating credits and charges, net	$	(2)	$	(1)	$	(6)	$	2

Schedule of Other Nonoperating Income (Expense)

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024













Foreign currency gain (loss)	$	(1)	$	(4)	$	(13)	$	2

Other non-operating items	$	(1)	$	(4)	$	(13)	$	2

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

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 nine months ended September 30, 2025 are provided in the following table (dollar amounts in millions):


	Timber Licenses1		Goodwill		Developed Technology
Beginning balance December 31, 2024	$	23	$	19	$	7


Amortization	(2)		—		(2)
Ending balance September 30, 2025	$	21	$	19	$	4

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

The Company regularly evaluates the estimated useful lives of its definite-lived intangible assets. During the quarter ended June 30, 2025, the Company revised its estimate of the useful lives of its developed technology to better reflect the period over which the asset is expected to be utilized. The developed technology previously had a remaining useful life of ten years and is now being amortized over a revised useful life of one year. This revision in estimate resulted in a quarterly increase of $2 million in amortization expense.