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Investments in and Advances to Affiliates
12 Months Ended
Dec. 31, 2017
Related Party Transactions [Abstract]  
Transactions with Affiliates
INVESTMENTS IN AND ADVANCES TO AFFILIATES
At December 31, 2017, we have an investment in a joint venture with Resolute Forest Products to operate jointly owned I-Joist facilities in Quebec (Resolute-LP). Each partner owns 50% of the venture.

We sell products and raw materials and purchase products for resale from Resolute-LP. We eliminate profits on these sales and purchases, to the extent the inventory has not been sold through to third parties, on the basis of its 50% interest. For the years ended December 31, 2017, 2016 and 2015, we sold $15.5 million, $11.7 million and $9.3 million of products to Resolute-LP and purchased $60.1 million, $53.1 million and $54.1 million of I-joists from Resolute-LP.

Included in the Consolidated Balance Sheets at December 31, 2017 and 2016 are $3.6 million and $1.9 million in accounts receivable and $1.2 million and $0.1 million in accounts payable associated with Resolute-LP. For the year ended December 31, 2017, we received $3.3 million in dividends from Resolute-LP. We classified the receipt of these cash dividends as cash flows from operations. Our cumulative equity in earnings from Resolute-LP exceeds the cumulative distributions received; therefore, the dividends were deemed to be a return on our investment and not a return of our investment.

We are the exclusive distributor of the I-joists produced and sold by the joint venture and it is considered an integral part of our operations. Based upon the change in legal structure which altered our tax structure, for the year ended December 31, 2017, we are classifying the income (loss) from the joint venture as a reduction in cost of sales. LP recorded income from affiliates of $4.0 million in 2017, $5.2 million in 2016 and $6.7 million in 2015.