XML 34 R25.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Selected Segment Data | 9 Months Ended
--- | ---
Sep. 30, 2022
Segment Reporting [Abstract] |
Selected Segment Data | SELECTED SEGMENT DATA We operate in three segments: Siding, OSB, and South America. Our business units have been aggregated into these three 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. On June 21, 2022, LP reached an agreement for the sale of its EWP segment assets which subsequently closed on August 1, 2022. As a result of this transaction, the results of the EWP segment have been reclassified to discontinued operations and EWP is no longer a reportable segment of the Company. See "Note 7 –Discontinued Operations" for additional information. 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 from continuing operations before interest expense, provision for income taxes, depreciation and amortization, and excludes stock-based compensation expense, loss on impairment attributed to LP, product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, pension settlement charges, and other non-operating items. Information about our business segments is as follows (dollar amounts in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Net sales |  |  |  |  |  |  |
Siding | $ | 394 |  |  | $ | 312 |  |  | $ | 1,083 |  |  | $ | 889 |
OSB | 388 |  |  | 600 |  |  | 1,805 |  |  | 1,917 |
South America | 53 |  |  | 76 |  |  | 190 |  |  | 203 |
Other | 17 |  |  | 30 |  |  | 72 |  |  | 73 |
Intersegment sales | (1) |  |  | (1) |  |  | (2) |  |  | (2) |
Total sales | $ | 852 |  |  | $ | 1,018 |  |  | $ | 3,149 |  |  | 3,080 |
PROFIT BY SEGMENT |  |  |  |  |  |  |
Net income | $ | 226 |  |  | $ | 365 |  |  | $ | 1,093 |  |  | $ | 1,182 |
Add (deduct): |  |  |  |  |  |  |
Net loss attributed to noncontrolling interest | — |  |  | — |  |  | 1 |  |  | 1 |
Income from discontinued operations, net of income taxes | (97) |  |  | (33) |  |  | (196) |  |  | (47) |
Income attributed to LP from continuing operations | 129 |  |  | 332 |  |  | 898 |  |  | 1,135 |
Provision for income taxes | 44 |  |  | 111 |  |  | 284 |  |  | 350 |
Depreciation and amortization | 32 |  |  | 28 |  |  | 96 |  |  | 85 |
Stock-based compensation expense | 2 |  |  | 5 |  |  | 15 |  |  | 10 |
Other operating credits and charges, net | (7) |  |  | (2) |  |  | (17) |  |  | (5) |
Loss on early debt extinguishment | — |  |  | — |  |  | — |  |  | 11 |
Interest expense | 3 |  |  | 4 |  |  | 9 |  |  | 12 |
Investment income | (5) |  |  | — |  |  | (8) |  |  | (1) |
Other non-operating items | (1) |  |  | 2 |  |  | 7 |  |  | 2 |
Pension settlement charges | 4 |  |  | — |  |  | 4 |  |  | — |
Adjusted EBITDA | $ | 200 |  |  | $ | 480 |  |  | $ | 1,289 |  |  | $ | 1,600 |
Siding | $ | 90 |  |  | $ | 73 |  |  | $ | 251 |  |  | $ | 240 |
OSB | 113 |  |  | 381 |  |  | 1,021 |  |  | 1,300 |
South America | 14 |  |  | 37 |  |  | 65 |  |  | 91 |
Other | (7) |  |  | (3) |  |  | (19) |  |  | (11) |
Corporate | (11) |  |  | (8) |  |  | (29) |  |  | (22) |
Adjusted EBITDA | $ | 200 |  |  | $ | 480 |  |  | $ | 1,289 |  |  | $ | 1,600 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration