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Selected Segment Data | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Selected Segment Data | SELECTED SEGMENT DATA We operate in four segments: Siding, OSB, EWP, and South America. Our business units have been aggregated into these four segments based upon the similarity of economic characteristics, customers, and distribution methods. Our 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. During the three months ended March 31, 2020, our LP CanExel® prefinished siding was reclassified from Siding to Other, reflecting changes in organizational structure and, accordingly, the information that the chief operating decision maker uses to evaluate performances and allocate resources to the segments. All prior periods presented have been adjusted for comparability. We evaluate the performance of our business segments based on net sales and Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on net sales and Adjusted EBITDA for our business segments. Adjusted EBITDA is a non-GAAP financial measure and is defined as income attributed to LP before interest expense, net, provision for income taxes, depreciation and amortization, and excludes stock-based compensation expense, impairment of long-lived assets, other operating credits and charges, net, and other non-operating items. Information about our product segments is as follows:
| Three Months Ended
| March 31,
| 2020 |  | 2019
Net sales |  |  |
Siding | $ | 212 |  |  | $ | 219 |
OSB | 220 |  |  | 208 |
EWP | 99 |  |  | 90 |
South America | 36 |  |  | 45 |
Other | 18 |  |  | 21 |
Intersegment sales | — |  |  | (1 | )
Total sales | $ | 585 |  |  | $ | 582 |
PROFIT BY SEGMENT |  |  |
Net income | $ | 33 |  |  | $ | 26 |
Add (deduct): |  |  |  |
Net loss attributed to noncontrolling interest | — |  |  | 1 |
Income attributed to LP | 33 |  |  | 27 |
Provision for income taxes | 9 |  |  | 7 |
Depreciation and amortization | 28 |  |  | 31 |
Stock-based compensation expense | 2 |  |  | 2 |
Impairment of long-lived assets | 7 |  |  | 1 |
Other operating credits and charges, net | 2 |  |  | 2 |
Interest expense, net | 7 |  |  | (1 | )
Other non-operating items | (5 | ) |  | (11 | )
Adjusted EBITDA | $ | 83 |  |  | $ | 58 |
Siding | 42 |  |  | 39 |
OSB | 35 |  |  | 8 |
EWP | 9 |  |  | 7 |
South America | 7 |  |  | 10 |
Other | (3 | ) |  | 1 |
Corporate | (7 | ) |  | (7 | )
Adjusted EBITDA | 83 |  |  | 58 |

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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