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Selected Segment Data (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Information regarding the Company’s business segments is presented below (dollar amounts in millions):
| Three Months Ended September 30, 2025
| Siding |  | OSB |  | LPSA |  | Segment Total |  | Other |  | Consolidated
Net sales | $ | 443 |  |  | $ | 179 |  |  | $ | 39 |  |  | $ | 661 |  |  | $ | 2 |  |  | $ | 663 |
Cost of sales | (301) |  |  | (203) |  |  | (27) |  |  | (531) |  |  | (3) |  |  | (534) |
Selling, general, and administrative expenses | (48) |  |  | (18) |  |  | (9) |  |  | (75) |  |  | (20) |  |  | (95) |
Adjustments to Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 20 |  |  | 14 |  |  | 2 |  |  | 36 |  |  | — |  |  | 36 |
Other charges 1 | 3 |  |  | 1 |  |  | — |  |  | 5 |  |  | 8 |  |  | 12 |
Adjusted EBITDA | $ | 117 |  |  | $ | (27) |  |  | $ | 5 |  |  | $ | 95 |  |  | $ | (13) |  |  | $ | 82 |
| Three Months Ended September 30, 2024
| Siding |  | OSB |  | LPSA |  | Segment Total |  | Other |  | Consolidated
Net sales | $ | 420 |  |  | $ | 253 |  |  | $ | 47 |  |  | $ | 720 |  |  | $ | 2 |  |  | $ | 722 |
Cost of sales | (280) |  |  | (215) |  |  | (32) |  |  | (527) |  |  | (2) |  |  | (530) |
Selling, general, and administrative expenses | (38) |  |  | (17) |  |  | (6) |  |  | (61) |  |  | (15) |  |  | (75) |
Adjustments to Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 19 |  |  | 11 |  |  | 1 |  |  | 31 |  |  | — |  |  | 31 |
Other charges 1 | 1 |  |  | 1 |  |  | — |  |  | 2 |  |  | 3 |  |  | 5 |
Adjusted EBITDA | $ | 123 |  |  | $ | 33 |  |  | $ | 9 |  |  | $ | 165 |  |  | $ | (12) |  |  | $ | 153 |
| Nine Months Ended September 30, 2025
| Siding |  | OSB |  | LPSA |  | Segment Total |  | Other |  | Consolidated
Net sales | $ | 1,305 |  |  | $ | 696 |  |  | $ | 134 |  |  | $ | 2,135 |  |  | $ | 6 |  |  | $ | 2,141 |
Cost of sales | (890) |  |  | (643) |  |  | (95) |  |  | (1,628) |  |  | (9) |  |  | (1,637) |
Selling, general, and administrative expenses | (133) |  |  | (52) |  |  | (21) |  |  | (206) |  |  | (44) |  |  | (250) |
Adjustments to Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 60 |  |  | 40 |  |  | 6 |  |  | 106 |  |  | — |  |  | 106 |
Other charges 1 | 6 |  |  | 4 |  |  | 2 |  |  | 12 |  |  | 13 |  |  | 25 |
Adjusted EBITDA | $ | 348 |  |  | $ | 46 |  |  | $ | 25 |  |  | $ | 419 |  |  | $ | (33) |  |  | $ | 386 |
| Nine Months Ended September 30, 2024
| Siding |  | OSB |  | LPSA |  | Segment Total |  | Other |  | Consolidated
Net sales | $ | 1,196 |  |  | $ | 917 |  |  | $ | 140 |  |  | $ | 2,253 |  |  | $ | 7 |  |  | $ | 2,261 |
Cost of sales | (825) |  |  | (656) |  |  | (101) |  |  | (1,583) |  |  | (8) |  |  | (1,591) |
Selling, general, and administrative expenses | (113) |  |  | (47) |  |  | (14) |  |  | (174) |  |  | (41) |  |  | (215) |
Adjustments to Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 55 |  |  | 33 |  |  | 4 |  |  | 92 |  |  | — |  |  | 93 |
Other charges 1 | 4 |  |  | 2 |  |  | — |  |  | 6 |  |  | 10 |  |  | 17 |
Adjusted EBITDA | $ | 318 |  |  | $ | 249 |  |  | $ | 29 |  |  | $ | 594 |  |  | $ | (32) |  |  | $ | 564 |
1 Other charges includes stock compensation and income from equity in unconsolidated affiliates.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
NET INCOME TO ADJUSTED EBITDA RECONCILIATION |  |  |  |  |  |  |
Net income | $ | 9 |  |  | $ | 90 |  |  | $ | 154 |  |  | $ | 358 |
Add (deduct): |  |  |  |  |  |  |
Provision for income taxes | 9 |  |  | 23 |  |  | 54 |  |  | 117 |
Depreciation and amortization | 36 |  |  | 31 |  |  | 106 |  |  | 93 |
Stock-based compensation expense | 12 |  |  | 4 |  |  | 24 |  |  | 15 |
Loss on impairment | 13 |  |  | — |  |  | 31 |  |  | — |
Other operating credits and charges, net | 1 |  |  | 1 |  |  | 5 |  |  | 2 |
Business exit credits and charges | 1 |  |  | — |  |  | 1 |  |  | (14) |
Interest expense | 4 |  |  | 4 |  |  | 11 |  |  | 12 |
Investment income | (5) |  |  | (6) |  |  | (12) |  |  | (17) |
Other non-operating items | 1 |  |  | 4 |  |  | 13 |  |  | (2) |
Adjusted EBITDA | $ | 82 |  |  | $ | 153 |  |  | $ | 386 |  |  | $ | 564 |
Information concerning identifiable assets by segment is as follows (dollar amounts in millions):
| September 30, 2025 |  | December 31, 2024
Identifiable Assets |  |  |
Siding | $ | 1,380 |  |  | $ | 1,319 |
OSB | 543 |  |  | 554 |
LPSA | 168 |  |  | 145 |
Other | 559 |  |  | 551 |
Total assets | $ | 2,649 |  |  | $ | 2,569 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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