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Non-operating Income (Expense) (Notes)
 12 Months Ended
Dec. 31, 2011
Nonoperating Income (Expense) [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
NON-OPERATING INCOME (EXPENSE)
Included in LP’s Consolidated Statements of Income is a non-operating expense of $44.0 million, $40.3 million and $36.2 million for the years ended December 31, 2011, 2010 and 2009. This expense is comprised of the following components:
 
 
Year ended December 31,
Dollar amounts in millions
2011
 
2010
 
2009
Interest expense
$
(54.4
)
 
$
(60.8
)
 
$
(71.7
)
Amortization of debt charges
(2.6
)
 
(3.1
)
 
(3.0
)
Capitalized interest
0.1

 
—

 
0.1

Interest expense, net of capitalized interest
(56.9
)
 
(63.9
)
 
(74.6
)
Investment income
13.3

 
18.0

 
26.0

Realized gains from the sales of investments
15.2

 
19.0

 
18.7

SERP market adjustments
0.2

 
1.4

 
3.0

Investment income
28.7

 
38.4

 
47.7

Other than temporary impairment
(14.8
)
 
(17.0
)
 
(2.0
)
Foreign currency gains (losses)
(1.0
)
 
2.2

 
13.4

Early debt extinguishment
—

 
—

 
(20.7
)
Other non-operating expense
(1.0
)
 
2.2

 
(7.3
)
Total non-operating income (expense)
$
(44.0
)
 
$
(40.3
)
 
$
(36.2
)

For the year ended December 31, 2011 , LP recorded an impairment charge of $14.8 million associated with an equity investment in a joint venture to reduce the carrying value of this investment to it estimated fair value. See Note 3 for further discussion of this impairment and Note 8 for discussion of the investment.
For the year ended December 31, 2010, LP recorded an impairment charge of $17.0 million associated with the anticipated sale of an equity investment in a joint venture to reduce the carrying value of this investment to it estimated fair value. See Note 3 for further discussion of this impairment and Note 8 for discussion of the investment.
For the year ended December 31, 2009, LP record impairment charges of $2.0 million associated with auction rate securities. See Note 2 for further discussion of these securities. LP also recognized $20.7 million in loss on early debt extinguishment associated with the repurchase of debt issued in early 2009. See Note 12 for further discussion of this transaction.
OTHER OPERATING CREDITS AND CHARGES, NET
The major components of “Other operating credits and charges, net” in the Consolidated Statements of Income for the years ended December 31 are reflected in the table below and described in the paragraphs following the table: 
Dollar amounts in millions
Year ended December 31,
2011
 
2010
 
2009
Severance
$
(1.1
)
 
$
—

 
$
—

Additions to litigation reserves
—

 
(2.2
)
 
—

Gain on settlement of insurance litigation
—

 
—

 
8.4

(Additions) reductions to product related contingency reserves
11.5

 
2.5

 
(3.3
)
Reductions to product related warranty reserves
0.4

 
—

 
—

Additions to environmental related contingency reserves
(0.9
)
 
—

 
(7.6
)
Gain on insurance recoveries
—

 
—

 
2.0

Timber related reserves
1.5

 
—

 
—

Charges associated with corporate “right sizing”
—

 
—

 
(1.5
)
Other
(0.2
)
 
(0.4
)
 
0.4

 
$
11.2

 
$
(0.1
)
 
$
(1.6
)

2011
During 2011, LP recorded a $11.2 million gain in “Other operating credits and charges, net”. The components of the net charges include:
•
a loss of $1.1 million associated with severance related to an indefinitely curtailed OSB mill in British Columbia, Canada and other positions;
•
a gain of $11.5 million related to a reduction in product related contingency reserves associated with the national hardboard class action settlement (see Note 18 for further discussion);
•
a gain of $1.5 million related to reductions in reforestation liabilities associated with LP's Canadian timber obligations;
•
a loss of $0.9 million related to an increase in environmental reserves associated with a site that is held for sale; and
•
a gain of $0.4 million related to reductions in our warranty reserves.
2010
During 2010, LP recorded a $0.1 million loss in “Other operating credits and charges, net”. The components of the net charges include:
•
a loss of $1.0 million associated with an assessment in connection with one of its indefinitely curtailed OSB mills;
•
a loss of $2.2 million associated with LP’s settlement of an anti-trust litigation matter;
•
a gain of $2.5 million related to a reduction in product related contingency reserves associated with the national hardboard class action settlement (see Note 18 for further discussion); and
•
a gain of $0.5 million associated with the reduction of certain liabilities associated with the acquisition of Le Groupe Forex.
2009
During 2009, LP recorded a $1.6 million loss in “Other operating credits and charges, net”. The components of the net charges include:
•
a net gain of $8.4 million associated with reimbursements of legal expenses related to an environmental litigation matter;
•
a gain of $2.0 million gain on an insurance recovery associated with a facility explosion that occurred in the second quarter of 2008;
•
a loss of $7.6 million associated with increases in environmental reserves related to previously operated facilities;
•
a loss of $3.3 million from increases in product related contingency reserves associated with the national hardboard class action settlement (see Note 18 for further discussion);
•
a gain of $0.4 million associated with a contractor default on a construction project; and
•
a loss of $1.5 million related to severance charges associated to LP’s “right sizing” initiative as well as a loss on sublease associated with leasing excess office space due to the “right sizing”.
Severance
Over the course of the last three years, LP has entered into several restructuring plans in an effort to sell selected businesses and reduce overall expenses. The detail of the severance accrual and related expense and payments for the last three years is as follows:
 
Dollar amounts in millions
Year ended December 31,
2011
 
2010
 
2009
Beginning balance
$
0.6

 
$
2.1

 
$
8.8

Charged to expense, continuing operations
1.9

 
0.5

 
2.6

Payments
(1.0
)
 
(2.0
)
 
(9.3
)
Ending balance
$
1.5

 
$
0.6

 
$
2.1


The balance of the accrued severance is included in “Accounts payable and accrued liabilities” on the Consolidated Balance Sheets. The balance as of December 31, 2011 is payable under contract through 2012. For the year ended December 31, 2011, severance expense is primarily related to OSB segment or general and corporate expenses.