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Segment Information
 12 Months Ended
Dec. 31, 2011
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION
LP operates in four segments: Oriented Strand Board (OSB); Siding; Engineered Wood Products (EWP) and South America. LP’s business units have been aggregated into these four segments based upon the similarity of economic characteristics, customers and distribution methods. LP’s 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. Segment information was prepared in accordance with the same accounting principles as those described in Note 1. In the current year, the Company recast the prior year presentation of its reportable segments to show South American operations as a separate segment based upon the attainment of certain thresholds as defined by the Financial Accounting Standards Board (“FASB”). LP evaluates the performance of its business segments based upon operating profits excluding other operating credits and charges, net, gain (loss) on sales of and impairments of long-lived assets, general corporate and other expenses, translation gains and losses, interest and income taxes.
The OSB segment includes OSB products produced in North America. The siding segment includes Smart Side® siding products; Canexel siding products; and other related products. The engineered wood products segment includes laminated veneer lumber and laminated strand lumber; I-joists; plywood; and other related products. The South America segment includes products produced and or sold (generally OSB) in South America.

Information about LP’s product segments is as follows:
 
  
Year ended December 31,
Dollar amounts in millions
2011
 
2010
 
2009
SALES BY BUSINESS SEGMENT
 
 
 
 
 
OSB
$
542.0

 
$
602.7

 
$
408.8

Siding
429.8

 
427.8

 
379.4

Engineered Wood Products
203.3

 
192.0

 
157.7

South America
144.9

 
124.7

 
79.1

Other products
39.4

 
42.9

 
37.9

Intersegment Sales
(2.5
)
 
(6.5
)
 
(1.9
)
Total sales
$
1,356.9

 
$
1,383.6

 
$
1,061.0

PROFIT (LOSS) BY BUSINESS SEGMENT
 
 
 
 
 
OSB
$
(63.5
)
 
$
25.8

 
$
(65.1
)
Siding
42.0

 
51.3

 
29.3

Engineered Wood Products
(15.5
)
 
(21.3
)
 
(33.1
)
South America
11.6

 
7.2

 
0.4

Other products
(12.5
)
 
(1.1
)
 
0.4

Other operating credits and charges, net
11.2

 
(0.1
)
 
(1.6
)
Gain (loss) on sales of and impairments of long-lived assets
(73.9
)
 
(2.4
)
 
2.5

General corporate and other expense, net
(66.4
)
 
(73.4
)
 
(76.5
)
Investment income
28.7

 
38.4

 
47.7

Interest expense, net of capitalized interest
(56.9
)
 
(63.9
)
 
(74.6
)
Other-than-temporary investment impairment
(14.8
)
 
(17.0
)
 
(2.0
)
Other non-operating income (expense)
(1.0
)
 
2.2

 
(7.3
)
Income (loss) from continuing operations before taxes
(211.0
)
 
(54.3
)
 
(179.9
)
Provision (benefit) for income taxes
(39.1
)
 
(22.1
)
 
(63.4
)
Income (loss) from continuing operations
$
(171.9
)
 
$
(32.2
)
 
$
(116.5
)
 
 
 
 
 
 
  
Year ended December 31,
 
2011
 
2010
 
2009
DEPRECIATION AND AMORTIZATION
 
 
 
 
 
OSB
$
36.3

 
$
37.4

 
$
35.2

Siding
15.5

 
18.1

 
18.5

Engineered Wood Products
12.6

 
13.1

 
12.2

South America
11.6

 
10.0

 
9.4

Other products
0.8

 
1.1

 
1.3

Non-segment related
2.1

 
2.3

 
3.4

Total depreciation and amortization
$
78.9

 
$
82.0

 
$
80.0

 
 
 
 
 
 
CAPITAL EXPENDITURES
 
 
 
 
 
OSB
$
8.9

 
$
7.1

 
$
2.5

Siding
5.9

 
5.6

 
4.5

Engineered Wood Products
2.0

 
0.4

 
0.2

South America
2.7

 
1.1

 
2.2

Other products
0.2

 
—

 
0.1

Non-segment related
1.7

 
0.3

 
0.1

Total capital expenditures
$
21.4

 
$
14.5

 
$
9.6


Information concerning identifiable assets by segment is as follows: 
In millions
December 31,
2011
 
2010
IDENTIFIABLE ASSETS
 
 
 
OSB
$
525.6

 
$
617.2

Siding
167.1

 
177.2

Engineered Wood Products
141.4

 
223.7

South America
156.6

 
209.0

Other products
33.6

 
48.5

Non-segment related
1,115.6

 
1,135.0

Total assets
$
2,139.9

 
$
2,410.6


Non-segment related assets include long-term notes receivable, cash and cash equivalents, short-term and long-term investments, corporate assets, assets held for sale and other items.
Information concerning LP’s geographic segments is as follows:
 
  
Year ended December 31,
Dollars in millions
2011
 
2010
 
2009
GEOGRAPHIC SEGMENTS:
 
 
 
 
 
Total Sales—Point of origin
 
 
 
 
 
U.S.
$
991

 
$
1,015

 
$
813

Canada
280

 
314

 
273

South America
145

 
125

 
79

Intersegment sales
(59
)
 
(70
)
 
(104
)
Total Sales
$
1,357

 
$
1,384

 
$
1,061

Operating profit (loss)
 
 
 
 
 
U.S.
$
14

 
$
55

 
$
(6
)
Canada
(64
)
 
—

 
(62
)
South America
12

 
7

 
—

Other operating credits and charges, net and gain (loss) on sales of and impairments of long-lived assets
(63
)
 
(3
)
 
1

General corporate expense, other-than-temporary investment impairment, loss on early debt extinguishment, realized gain on long term investments, translation gains (losses) and interest, net
(110
)
 
(113
)
 
(113
)
 
(211
)
 
(54
)
 
(180
)
Benefit)for income taxes
(39
)
 
(22
)
 
(63
)
Loss from continuing operations
$
(172
)
 
$
(32
)
 
$
(117
)
Identifiable tangible long-lived assets
 
 
 
 
 
U.S.
$
576

 
$
683

 
$
729

Canada
158

 
172

 
186

South America
107

 
127

 
127

Total assets
$
841

 
$
982

 
$
1,042


Certain corrections have been made to the presentation of Identifiable tangible long-lived assets to exclude LP’s Canadian timber licenses which were deemed intangible. Such corrections were not considered material.


In