Assets Held for Sale

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]

ASSETS HELD FOR SALE

Over the last several years, LP has adopted and implemented plans to sell selected assets in order to improve its operating results. LP is required to classify assets held for sale which are not part of a discontinued business separately on the face of the financial statements outside of “Property, plant and equipment.” As of September 30, 2014, LP included an OSB mill and various non-operating sites in its held for sale category. During the third quarter ended September 30, 2014, LP sold the assets of one of its non-operating locations for $11.9 million. The current book values of assets held for sale by category is as follows:



Dollars in millions	September 30, 2014			December 31, 2013
Property, plant and equipment, at cost:
Land, land improvements and logging roads, net of road amortization	$	4.5		$	6.9
Buildings	2.9			6.2
Machinery and equipment	52.0			99.1
	59.4			112.2
Accumulated depreciation	(50.1		)	(95.9		)
Net property, plant and equipment	$	9.3		$	16.3

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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