10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

Quarterly Report Under Section 13 or 15(d)

of the Securities Exchange Act of 1934

For Quarterly Period Ended June 30, 2011

Commission File Number 1-7107

LOUISIANA-PACIFIC CORPORATION

(Exact name of registrant as specified in its charter)

DELAWARE	93-0609074
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

414 Union Street, Nashville, TN 37219

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (615) 986-5600

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definition of “large accelerated filer,” “accelerated filers” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	x	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 132,151,000 shares of Common Stock, $1 par value, outstanding as of July 27, 2011.

Except as otherwise specified and unless the context otherwise requires, references to "LP", the “Company”, “we”, “us”, and “our” refer to Louisiana-Pacific Corporation and its subsidiaries.

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to Louisiana-Pacific Corporation's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011 filed with the Securities and Exchange Commission on July 29, 2011 (“the Form 10-Q”) is to furnish Exhibit 101 to the Form 10-Q. Exhibit 101 consists of the following, formatted in XBRL (eXtensible Business Reporting Language):  

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

No other changes have been made to the Form 10-Q. The Form 10-Q has not been updated to reflect events occurring subsequent to the original filing date.

Item 6. Exhibits

10.13 *	2004 Executive Deferred Compensation Plan, amended June 14, 2011
10.14 *	Supplemental Executive Retirement Plan, amended June 14, 2011
10.15 *	Non-Employee Director Phantom Share Plan, adopted May 15, 2011
31.1 *	Certification of Chief Executive Officer Pursuant to Rule 13a-14(a).
31.2 *	Certification of Chief Financial Officer Pursuant to Rule 13a-14(a).
32.1 *	Certifications pursuant to § 906 of the Sarbanes-Oxley Act of 2002.
100.INS **	XBRL Instance Document*
100.SCH **	XBRL Taxonomy Extension Schema Document*
100.CAL **	XBRL Taxonomy Extension Calculation Linkbase Document*
100.DEF **	XBRL Taxonomy Extension Definition Linkbase Document*
100.LAB **	XBRL Taxonomy Extension Label Linkbase Document*
100.PRE **	XBRL Taxonomy Extension Presentation Linkbase Document*

* Louisiana-Pacific Corporation's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011 filed with the Securities and Exchange Commission on July 29, 2011

** Furnished herewith

LP hereby agrees to furnish supplementally to the SEC upon its request any schedules and similar documents omitted pursuant to Item 601(b)(2) of Regulation S-K and any instruments omitted pursuant to Item 601 (b)(4)(iii) of Regulation S-K.

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		LOUISIANA-PACIFIC CORPORATION
Date:	July 29, 2011	BY:	/S/    RICHARD W. FROST
			Richard W. Frost
			Chief Executive Officer
Date:	July 29, 2011	BY:	/S/    CURTIS M. STEVENS
			Curtis M. Stevens
			Executive Vice President Administration and Chief Financial Officer
			(Principal Financial Officer)

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Earnings per Share (Details) (USD $) In Millions, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Loss Attributed to LP Common Shares [Abstract]
Income (loss) from continuing operations	$ (33.0)	$ 23.5	$ (56.0)	$ 1.2
Loss from discontinued operations	(2.5)	(1.2)	(2.5)	(1.4)
Net income (loss)	$ (35.5)	$ 22.3	$ (58.5)	$ (0.2)
Denominator:
Basic - weighted average common shares outstanding	131.4	128.5	131.3	127.2
Dilutive effect of stock warrants	0	9.5	0	9.3
Dilutive effect of stock plans	0	1.8	0	1.7
Diluted shares outstanding	131.4	139.8	131.3	138.2
Basic earnings per share:
Income (loss) from continuing operations	$ (0.25)	$ 0.18	$ (0.43)	$ 0.01
Loss from discontinued operations	$ (0.02)	$ (0.01)	$ (0.02)	$ (0.01)
Net income (loss) per share	$ (0.27)	$ 0.17	$ (0.45)	$ 0.00
Diluted earnings per share:
Income (loss) from continuing operations	$ (0.25)	$ 0.17	$ (0.43)	$ 0.01
Loss from discontinued operations	$ (0.02)	$ (0.01)	$ (0.02)	$ (0.01)
Net income (loss) per share	$ (0.27)	$ 0.16	$ (0.45)	$ 0.00
Antidilutive securities excluded from computation of earnings per share	9.0	5.6	9.2	5.4

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Condensed Consolidated Balance Sheets (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 334.0	$ 389.3
Receivables, net of allowance for doubtful accounts of $1.4 million at June 30, 2011 and $1.3 million at December 31, 2010	93.0	66.8
Income tax receivable	14.0	18.7
Inventories	173.9	151.9
Prepaid expenses and other current assets	8.6	5.6
Deferred income taxes	16.4	23.4
Assets held for sale	51.5	57.9
Total current assets	691.4	713.6
Timber and timberlands	44.9	46.8
Property, plant and equipment, at cost	2,124.9	2,112.5
Accumulated depreciation	(1,237.9)	(1,195.4)
Net property, plant and equipment	887.0	917.1
Notes receivable from asset sales	533.5	533.5
Long-term investments	19.6	15.4
Restricted cash	14.7	31.1
Investments in and advances to affiliates	103.4	110.0
Intangible assets, net of amortization	1.8	2.2
Deferred debt costs	9.6	10.1
Other assets	25.9	24.9
Long-term deferred tax asset	4.6	5.9
Total assets	2,336.4	2,410.6
LIABILITIES AND EQUITY
Current portion of long-term debt	2.9	0.2
Short term notes payable	4.5	0
Accounts payable and accrued liabilities	127.3	127.8
Current portion of contingency reserves	7.0	7.0
Total current liabilities	141.7	135.0
Long-term debt, excluding current portion	716.8	714.5
Contingency reserves, excluding current portion	25.1	25.9
Other long-term liabilities	130.6	129.8
Deferred income taxes	151.1	164.8
Redeemable non-controlling interest	0	22.8
Stockholders' equity:
Common stock	145.0	144.8
Additional paid-in capital	557.8	559.4
Retained earnings	804.6	863.1
Treasury stock	(279.8)	(279.9)
Accumulated comprehensive loss	(56.5)	(69.6)
Total stockholders' equity	1,171.1	1,217.8
Total liabilities and stockholders' equity	$ 2,336.4	$ 2,410.6

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Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 1.4	$ 1.3

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Assets Held for Sale (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2011	Dec. 31, 2010
Property, plant and equipment held for sale [Abstract]
Assets held-for-sale, property, plant and equipment	$ 223.4	$ 235.6
Assets held for sale acumulated depreciation	(171.9)	(177.7)
Assets Held For Sale Property Plant and Equipment Net	51.5	57.9
OSB [Member]
Property, Plant and Equipment [Line Items]
Number of OSB mills included in held for sale assets	3	3
Land Land Improvements And Logging Roads Net of Road Amortization [Member]
Property, plant and equipment held for sale [Abstract]
Assets held-for-sale, property, plant and equipment	13.3	13.4
Building [Member]
Property, plant and equipment held for sale [Abstract]
Assets held-for-sale, property, plant and equipment	22.2	24.5
Machinery and Equipment [Member]
Property, plant and equipment held for sale [Abstract]
Assets held-for-sale, property, plant and equipment	$ 187.9	$ 197.7

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Defined Benefit Pension Plans

6 Months Ended

Jun. 30, 2011

Compensation and Retirement Disclosure [Abstract]

Compensation and Employee Benefit Plans

DEFINED BENEFIT PENSION PLANS

The following table sets forth the net periodic pension cost for LP’s defined benefit pension plans during the quarter ended June 30, 2011 and 2010. The net periodic pension cost included the following components:

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Service cost	$	0.8		$	0.7		$	1.6		$	1.7
Interest cost	4.0			4.4			8.0			9.8
Expected return on plan assets	(4.5		)	(4.7		)	(9.0		)	(10.7		)
Amortization of prior service cost	0.1			0.1			0.2			0.2
Amortization of net loss	1.1			1.2			2.2			2.8
Net periodic pension cost	$	1.5		$	1.7		$	3.0		$	3.8

During the six months ended June 30, 2011 and 2010, LP recognized $3.0 million and $3.8 million of pension expense for all of LP’s defined benefit pension plans.

During the six months ended June 30, 2011, LP made no significant pension contributions for LP’s defined benefit plans. LP presently anticipates making approximately $10 to $12 million of pension contributions for the plans during the remainder of 2011.

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Document and Entity Information Document	6 Months Ended
	Jun. 30, 2011	Jul. 27, 2011
Entity Information [Line Items]
Entity Registrant Name	LOUISIANA-PACIFIC CORP
Entity Central Index Key	0000060519
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		132,151,000

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Fair Value Measurements Unobservable Inputs Rollforward (Details) (USD $) In Millions	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
The amount of total losses for the period included in net loss attributable to the fair value of changes in assets still held	$ 0	$ 0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	11.6	26.3
Total realized/unrealized gains (losses) Included in other comprehensive income	3.6	7.8
Ending balance	$ 15.2	$ 34.1

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Discontinued Operations

6 Months Ended

Jun. 30, 2011

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

DISCONTINUED OPERATIONS

Over the last several years, LP has adopted and implemented plans to sell selected businesses and assets in order to improve its operating results. For all periods presented, these operations include residual losses of mills divested in past years and associated warranty and other liabilities associated with these operations.

Included in the operating losses of discontinued operations for the second quarter of 2011 is an increase in warranty reserves of $3.8 million associated with previously discontinued composite decking products based upon expected increases in warranty claim activity.

Included in the operating losses of discontinued operations for the second quarter of 2010 is a settlement with a customer associated with a previously discontinued product of $1.9 million.

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Fair Value Measurements (Details) (USD $) In Millions	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2011 Fair Value, Measurements, Recurring [Member]	Dec. 31, 2010 Fair Value, Measurements, Recurring [Member]	Jun. 30, 2011 Fair Value, Measurements, Recurring [Member] Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	Dec. 31, 2010 Fair Value, Measurements, Recurring [Member] Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	Jun. 30, 2011 Fair Value, Measurements, Recurring [Member] Significant Other Observable Inputs (Level 2) [Member]	Dec. 31, 2010 Fair Value, Measurements, Recurring [Member] Significant Other Observable Inputs (Level 2) [Member]	Jun. 30, 2011 Fair Value, Measurements, Recurring [Member] Significant Unobservable Inputs (Level 3) [Member]	Dec. 31, 2010 Fair Value, Measurements, Recurring [Member] Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from Sale of Available-for-sale Securities	$ 18.7
Assets, Fair Value Disclosure [Abstract]
Available for sale securities	18.5	19.6	15.4	0	0	4.4	3.8	15.2	11.6
Trading securities		2.8	2.6	2.8	2.6	0	0	0	0
Total		22.4	18.0	2.8	2.6	4.4	3.8	15.2	11.6
Par Value Available For Sale Securities	35.9
Available For Sale Securities Gross Realized Gain Loss To Be Recorded In Subsequent Period	$ 14.4

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Receivables

6 Months Ended

Jun. 30, 2011

Receivables [Abstract]

Receivables

RECEIVABLES

Receivables consist of the following:

Dollar amounts in millions	June 30, 2011			December 31, 2010
Trade receivables	$	83.5		$	56.2
Interest receivables	1.1			1.1
Other receivables	9.8			10.8
Allowance of doubtful accounts	(1.4		)	(1.3		)
Total	$	93.0		$	66.8

Other receivables at June 30, 2011 and December 31, 2010 primarily consist of short-term notes receivable, settlements, Canadian sales tax receivables and other items.

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Recent and Prospective Accounting Pronouncements

6 Months Ended

Jun. 30, 2011

Accounting Policies [Abstract]

Description of New Accounting Pronouncements Not yet Adopted [Text Block]

RECENT AND PROSPECTIVE ACCOUNTING PRONOUNCEMENTS

In June 2011, the Financial Accounting Standards Board ("FASB") amended Accounting Standards Codification ("ASC") 220, “Presentation of Comprehensive Income.” This amendment will require companies to present the components of net income and other comprehensive income either as one continuous statement or as two consecutive statements. It eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity. The amended guidance, which must be applied retroactively, is effective for interim and annual periods beginning after December 15, 2011, with earlier adoption permitted. This Accounting Standards Update ("ASU") impacts presentation only and will have no effect on LP's financial condition, results of operations or cash flows.

In May 2011, the FASB amended ASC 820, "Fair Value Measurement." This amendment is intended to result in convergence between U.S. GAAP and International Financial Reporting Standards (“IFRS”) requirements for measurement of and disclosures about fair value. This guidance clarifies the application of existing fair value measurements and disclosures, and changes certain principles or requirements for fair value measurements and disclosures. The amendment is effective for interim and annual periods beginning after December 15, 2011. Based upon initial assessment, LP does not believe the adoption of this amendment will have a material impact on its consolidated financial statements.

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Stock-Based Compensation Valuation Assumptions (Details) (Options and Ssars [Member], USD $)	6 Months Ended
	Jun. 30, 2011 years	Jun. 30, 2010 years
Options and Ssars [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	63.90%	59.50%
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	2.10%	2.40%
Expected life of options	5.16	5.13
Weighted average fair value of options and SSARs granted	$ 5.62	$ 3.73

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Contingency Reserves (Tables)

6 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

LP maintains reserves for various contingent liabilities as follows:

Dollar amounts in millions	June 30, 2011			December 31, 2010
Environmental reserves	$	14.8		$	14.3
Hardboard siding reserves	17.2			17.8
Other reserves	0.1			0.8
Total contingency reserves	32.1			32.9
Current portion of contingency reserves	(7.0		)	(7.0		)
Long-term portion of contingency reserves	$	25.1		$	25.9

Settlement Agreement Reserve Rollforward [Table Text Block]

The activity in the portion of LP's loss contingency reserves relating to hardboard siding contingencies for the first six months of 2011 and 2010 are summarized in the following table.

Dollar amounts in millions	June 30, 2011			June 30, 2010
Beginning balance, December 31,	$	17.8		$	24.2
Payments made for claims	(0.4		)	(2.0		)
Payments made for administrative costs	(0.2		)	(0.8		)
Ending balance	$	17.2		$	21.4

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Noncontrolling Interest

6 Months Ended

Jun. 30, 2011

Noncontrolling Interest [Abstract]

Noncontrolling Interest

NON-CONTROLLING INTEREST

On June 14, 2011, LP purchased the remaining 25% ownership of LP Brazil from Massisa for a payment of $24.0 million. This amount was paid through general cash reserves as well as an increase in LP's short term notes payable of $4.5 million.

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Other Operating Credits and Charges, Net

6 Months Ended

Jun. 30, 2011

Other Operating Credits And Charges, Net [Abstract]

Other Operating Credits and Charges, Net

OTHER OPERATING CREDITS AND CHARGES, NET

The major components of “Other operating credits and charges, net” in the Consolidated Statements of Income for the quarter and six month periods ended June 30, 2011 and 2010 are reflected in the table below and are described in the paragraphs following the table:

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Reversal of severance	$	—		$	—		$	—		$	0.1
Construction related legal reserves	—			(0.6		)	—			(0.6		)
Addition to environmental reserves	(0.9		)	—			(0.9		)	—
Timber related reserves	1.5			—			1.5			—
Settlement of legal claim	—			—			0.8			—
	$	0.6		$	(0.6	)	$	1.4		$	(0.5	)

During the second quarter of 2011, LP recorded a gain of $1.5 million related to reductions in reforestation liabilities associated with LP's Canadian timber obligations and an increase of $0.9 million in environmental reserves associated with a facility currently held for sale.

During the first quarter of 2011, LP recorded a gain of $0.8 million related to an action against a previous claim inspector associated with LP’s hardboard class action for various states.

During the second quarter of 2010, LP recorded a loss of $0.6 million associated with an assessment in connection with its indefinitely curtailed OSB mills.

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Basis For Presentation

6 Months Ended

Jun. 30, 2011

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis for Presentation

BASIS FOR PRESENTATION

The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments, except for other operating credits and charges, net referred to in Note 10) necessary to present fairly, in all material respects, the consolidated financial position, results of operations and cash flows of LP and its subsidiaries for the interim periods presented. Results of operations for interim periods are not necessarily indicative of results to be expected for an entire year. For those consolidated subsidiaries in which LP’s ownership interest is less than 100%, the outside shareholders’ interests are shown as non-controlling interest. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in LP’s Annual Report on Form 10-K for the year ended December 31, 2010.

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Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2011

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

LP’s long-term debt consists of the following:

Dollars in millions	June 30, 2011			December 31, 2010
Debentures:
Senior secured notes, maturing 2017	$	186.4		$	183.5
Bank credit facilities:
Chilean term credit facility, maturing 2019, denominated in UF	44.2			42.3
Limited recourse notes payable:
Senior notes, payable 2012	7.9			7.9
Senior notes, payable 2013 - 2018	112.0			112.0
Other financing
Non-recourse notes, payable 2018	368.7			368.7
Other	0.5			0.3
Total	719.7			714.7
Less: current portion	(2.9		)	(0.2		)
Net long-term portion	$	716.8		$	714.5

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Assets Held for Sale

6 Months Ended

Jun. 30, 2011

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

Assets Held for Sale

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 June 30, 2011 and December 31, 2010, LP included three OSB mills and various non-operating sites in its held for sale category. See Note 3 for discussion of impairments recorded on these assets. The current book values of assets held for sale by category is as follows:

Dollars in millions	June 30, 2011			December 31, 2010
Property, plant and equipment, at cost:
Land, land improvements and logging roads, net of road amortization	$	13.3		$	13.4
Buildings	22.2			24.5
Machinery and equipment	187.9			197.7
	223.4			235.6
Accumulated depreciation	(171.9		)	(177.7		)
Net property, plant and equipment	$	51.5		$	57.9

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Legal and Environmental Matters

6 Months Ended

Jun. 30, 2011

Legal and Environmental Matters [Abstract]

Legal and Environmental Matters

LEGAL AND ENVIRONMENTAL MATTERS

Certain environmental matters and legal proceedings are discussed below.

Environmental Matters

LP maintains a reserve for undiscounted estimated environmental loss contingencies. This reserve is primarily for estimated future costs of remediation of hazardous or toxic substances at numerous sites currently or previously owned by the Company. LP's estimates of its environmental loss contingencies are based on various assumptions and judgments, the specific nature of which varies in light of the particular facts and circumstances surrounding each environmental loss contingency. These estimates typically reflect assumptions and judgments as to the probable nature, magnitude and timing of required investigation, remediation and/or monitoring activities and the probable cost of these activities, and in some cases reflect assumptions and judgments as to the obligation or willingness and ability of third parties to bear a proportionate or allocated share of the cost of these activities. Due to the numerous uncertainties and variables associated with these assumptions and judgments, and the effects of changes in governmental regulation and environmental technologies, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. LP regularly monitors its estimated exposure to environmental loss contingencies and, as additional information becomes known, may change its estimates significantly. However, no estimate of the range of any such change can be made at this time.

Other Proceedings

LP and its subsidiaries are parties to other legal proceedings. Based on the information currently available, management believes that the resolution of such proceedings will not have a material adverse effect on the financial position, results of operations, cash flows or liquidity of LP.

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Income Taxes

6 Months Ended

Jun. 30, 2011

Income Tax Expense (Benefit) [Abstract]

Income Taxes

INCOME TAXES

Accounting standards require that LP account for income taxes using the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. This method also requires the recognition of future tax benefits, such as net operating loss carry forwards and other tax credits. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. Valuation allowances are recorded as necessary to reduce deferred tax assets to the amount thereof that is more likely than not to be realized. The likelihood of realizing deferred tax assets is evaluated by, among other things, estimating future taxable income to which the deferred tax assets may be applied and assessing the impact of tax planning strategies.

For interim periods, accounting standards require that income tax expense be determined by applying the estimated annual effective income tax rate to year-to-date results unless this method does not result in a reliable estimate of year-to-date income tax expense. Each quarter the income tax accrual is adjusted to the latest estimate and the difference from the previously accrued year-to-date balance is adjusted to the current quarter.

For the first six months of 2011, the primary differences between the U.S. statutory rate of 35% and the effective rate applicable to LP’s continuing operations relate to state income taxes, the effect of foreign tax rates and increases in valuation allowances attributed to net operating loss carry forwards in various jurisdictions. For the first six months of 2010, the primary differences between the U.S. statutory rate of 35% and the effective rate applicable to LP’s continuing operations relate to state income taxes, the effect of foreign tax rates and a discrete adjustment for state income taxes.

The income tax components and associated effective income tax rates for the quarter and six months periods ended June 30, 2011 and 2010 are as follows:

	Quarter Ended June 30,
	2011					2010
Dollars in millions	Tax Benefit			Tax Rate		Tax Provision (Benefit)			Tax Rate
Continuing operations	$	(8.4	)	20	%	$	12.7		35	%
Discontinued operations	(1.6		)	39	%	(0.8		)	39	%
	$	(10.0	)	22	%	$	11.9		35	%
	Six Months Ended June 30,
	2011					2010
	Tax Benefit			Tax Rate		Tax Provision (Benefit)			Tax Rate
Continuing operations	$	(15.2	)	21	%	$	2.4		69	%
Discontinued operations	(1.6		)	39	%	(0.9		)	39	%
	$	(16.8	)	22	%	$	1.5		115	%

LP and its domestic subsidiaries are subject to U.S. federal income tax as well as income taxes of multiple state jurisdictions. LP’s foreign subsidiaries are subject to income tax in Canada, Chile and Brazil. During 2011, the U.S. Internal Revenue Service initiated an audit of tax years 2007 through 2009. All U.S. federal audits of prior years have been completed. LP remains subject to state and local tax examinations for the tax years 2005 through 2010. LP’s Canadian income tax returns have been audited and effectively settled through 2004. Quebec provincial audits have been effectively settled through 2007. No Canadian federal or provincial audits are currently in progress.

If LP were to determine that it would not be able to realize a portion of an existing net deferred tax asset for which there is currently no valuation allowance, an adjustment to the net deferred tax asset would be charged to earnings in the period in which such determination was made. Conversely, if it were to make a determination that it is more likely than not that an existing deferred tax asset for which there is currently a valuation allowance would be realized, the related valuation allowance would be reduced and a benefit to earnings would be recorded in the period in which such determination was made.

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Inventories (Tables)

6 Months Ended

Jun. 30, 2011

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories are valued at the lower of cost or market. Inventory cost includes materials, labor and operating overhead. The major types of inventories are as follows (work in process is not material):

Dollar amounts in millions	June 30, 2011			December 31, 2010
Logs	$	26.7		$	22.4
Other raw materials	20.2			21.4
Finished products	118.3			100.3
Supplies	9.4			8.5
LIFO reserve	(0.7		)	(0.7		)
Total	$	173.9		$	151.9

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Inventories

6 Months Ended

Jun. 30, 2011

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are valued at the lower of cost or market. Inventory cost includes materials, labor and operating overhead. The major types of inventories are as follows (work in process is not material):

Dollar amounts in millions	June 30, 2011			December 31, 2010
Logs	$	26.7		$	22.4
Other raw materials	20.2			21.4
Finished products	118.3			100.3
Supplies	9.4			8.5
LIFO reserve	(0.7		)	(0.7		)
Total	$	173.9		$	151.9

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Inventories (Details) (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
Inventory Disclosure [Abstract]
Finished products	$ 118.3	$ 100.3
Supplies	9.4	8.5
LIFO reserve	(0.7)	(0.7)
Total	173.9	151.9
Logs [Member]
Inventory Disclosure [Abstract]
Logs	26.7	22.4
Other Raw Materials [Member]
Inventory Disclosure [Abstract]
Logs	$ 20.2	$ 21.4

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Consolidated Statements of Stockholders' Equity (USD $) In Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Comprehensive Loss [Member]	Redeemable Non-Controlling Interest [Member]
Balance, Beginning Value, Shares at Dec. 31, 2010		144.8	12.9
Balance, Beginning Value at Dec. 31, 2010	$ 1,217.8	$ 144.8	$ (279.9)	$ 559.4	$ 863.1	$ (69.6)	$ 22.8
Net income (loss)	(58.5)				(58.5)		0.2
Issuance of shares for employee stock plans and other purposes and other transactions, Value	(0.5)		0.1	(0.6)
Issuance of shares for employee stock plans and other purposes and other transactions, Shares			(0.2)
Compensation expense associated with stock awards	4.4			4.4
Warrants exercised, Shares		0.2
Warrants exercised, Amount		0.2
Warrants exercised, Adjustments to Additional Paid in Capital				(0.2)
Redemption of redeemable non-controlling interest	0.4			(5.2)		5.6	(24.0)
Other comprehensive income	7.5					7.5	1.0
Balance, Ending Value, Shares at Jun. 30, 2011		145.0	12.7
Balance, Ending Value at Jun. 30, 2011	$ 1,171.1	$ 145.0	$ (279.8)	$ 557.8	$ 804.6	$ (56.5)	$ 0

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

At June 30, 2011, LP had stock-based employee compensation plans as described below. The total compensation expense related to all of LP’s stock-based compensation plans was $1.3 million for the quarter ended June 30, 2011 as compared to $2.2 million for the quarter ended June 30, 2010 and $4.8 million for the six months ended June 30, 2011 as compared to $5.4 million for the six months ended June 30, 2010.

Stock Compensation Plans

LP grants options and stock settled stock appreciation rights (SSARs) to key employees and directors to purchase LP common stock. On exercise or issuance, LP generally issues these shares from treasury. The options and SSARs are granted at market price at the date of grant. For employees, SSARs become exercisable ratably over a three year period and expire ten years after the date of grant. For directors, these options become exercisable in 10% increments every three months, starting three months after the date of grant, and expire ten years after the date of grant. At June 30, 2011, 4,715,177 shares were available under the current stock award plans for stock-based awards.

The following table sets out the weighted average assumptions used to estimate the fair value of the options and SSARs granted using the Black-Scholes option-pricing model in the first six months of the respective years noted:

	2011			2010
Expected stock price volatility	63.9		%	59.5		%
Expected dividend yield	—			—
Risk-free interest rate	2.1		%	2.4		%
Expected life of options	5.16			5.13
Weighted average fair value of options and SSARs granted	$	5.62		$	3.73

The following table summarizes stock options and SSARs outstanding as of June 30, 2011 as well as activity during the six month period then ended.

Share amounts in thousands	Options and SSARs		Weighted Average Exercise Price		Weighted Average Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Options / SSARs outstanding at January 1, 2011	7,580		$	13.10
SSARs granted	813		10.12
Options / SSARs exercised	(18	)	4.93
Options /SSARs cancelled	(47	)	14.14
Options / SSARs outstanding at June 30, 2011	8,328		$	12.82	6.8	$	12.0
Vested and expected to vest at June 30, 2011	7,912		—		—	$	11.4
Options / SSARs exercisable at June 30, 2011	6,136		$	14.96	—	$	7.5

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between LP's closing stock price on the last trading day of the second quarter of 2011 and the exercise price, multiplied by the number of in-the-money options and SSARs) that would have been received by the holders had all holders exercised their awards on June 30, 2011. This amount changes based on the market value of LP's stock as reported by the New York Stock Exchange.

As of June 30, 2011, there was $1.5 million of total unrecognized compensation costs related to stock options and SSARs. These costs are expected to be recognized over a weighted-average period of 1.7 years. LP recorded compensation expense related to these awards in the first six months of 2011 of $2.7 million.

Incentive Share Awards

LP has granted incentive share stock awards (restricted stock units) to certain key employees as allowed under the current stock award plans. The awards entitle the participant to receive a specified number of shares of LP common stock at no cost to the participant. The market value of these grants approximates the fair value. LP recorded compensation expense related to these awards in the first six months of 2011 of $1.4 million. As of June 30, 2011, there was $3.4 million of total unrecognized compensation cost related to unvested incentive share awards. This expense will be recognized over a weighted-average period of 1.5 years.

The following table summarizes incentive share awards outstanding as of June 30, 2011 as well as activity during the six months then ended.

	Shares		Weighted Average Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Incentive share awards outstanding at January 1, 2011	955,936
Incentive share awards granted	300,816
Incentive share awards vested	(121,500	)
Incentive share awards cancelled	(32,117	)
Incentive share awards outstanding at June 30, 2011	1,103,135		1.50	$	9.0
Vested and expected to vest at June 30, 2011	1,047,978		1.50	$	8.6
Incentive share awards exercisable at June 30, 2011	—		—	—

Restricted Stock

LP grants restricted stock to certain senior employees. The shares vest three years from the date of grant. During the vesting period, the participants have voting rights and receive dividends, but the shares may not be sold, assigned, transferred, pledged or otherwise encumbered. Additionally, granted but unvested shares are generally forfeited upon termination of employment. The fair value of the restricted shares on the date of the grant is amortized ratably over the vesting period which is generally three years. As of June 30, 2011, there was $2.6 million of total unrecognized compensation costs related to restricted stock. This expense will be recognized over the next 1.3 years.

The following table summarizes the restricted stock outstanding as of June 30, 2011 as well as activity during the six months then ended.

	Six Months Ended June 30, 2011
	Number of Shares		Weighted Average Grant Date Fair Value
Restricted stock awards outstanding at January 1, 2011	783,289		$	6.31
Restricted stock awards granted	139,239		10.30
Restrictions lapsing	(171,800	)	15.27
Restricted stock awards at June 30, 2011	750,728		$	5.00

LP recorded compensation expense related to these awards in the first six months of 2011 of $0.7 million.

Through 2010, LP annually granted to each director restricted stock or restricted stock units. As of June 30, 2011, LP had 750,728 shares (or restricted stock units) outstanding under this program.

Phantom stock

Beginning in 2011, LP annually grants phantom stock units to its directors. The director does not receive rights of a shareholder, nor is any stock transfered. The units will be paid out in cash at the end of the five year vesting period. The value of one unit is based on the market value of one share of common stock on the vesting date. The cost of the grants is recognized over the vesting period and is included in stock-based compensation expense. As of June 30, 2011, LP had 39,944 shares outstanding under this program.

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Guarantees and Indemnifications (Tables)

6 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The activity in warranty reserves for the second quarter and first six months of 2011 and 2010 are summarized in the following table:

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Beginning balance	$	28.3		$	31.9		$	29.5		$	32.9
Accrued to expense	3.8			2.0			4.9			3.1
Payments made	(1.5		)	(3.3		)	(3.8		)	(5.4		)
Total warranty reserves	30.6			30.6			30.6			30.6
Current portion of warranty reserves	(10.0		)	(10.0		)	(10.0		)	(10.0		)
Long-term portion of warranty reserves	$	20.6		$	20.6		$	20.6		$	20.6

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Receivables (Tables)

6 Months Ended

Jun. 30, 2011

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Receivables consist of the following:

Dollar amounts in millions	June 30, 2011			December 31, 2010
Trade receivables	$	83.5		$	56.2
Interest receivables	1.1			1.1
Other receivables	9.8			10.8
Allowance of doubtful accounts	(1.4		)	(1.3		)
Total	$	93.0		$	66.8

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Transactions with Affiliates (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended		3 Months Ended		6 Months Ended	3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2011	Dec. 31, 2010	Jun. 30, 2011 AbitibiBowater-LP [Member]	Jun. 30, 2010 AbitibiBowater-LP [Member]	Jun. 30, 2011 AbitibiBowater-LP [Member]	Jun. 30, 2011 AbitibiBowater-LP [Member] I Joist [Member]	Jun. 30, 2010 AbitibiBowater-LP [Member] I Joist [Member]	Jun. 30, 2011 AbitibiBowater-LP [Member] I Joist [Member]	Jun. 30, 2010 AbitibiBowater-LP [Member] I Joist [Member]	Jun. 30, 2011 Canfor-LP [Member] OSB [Member]	Jun. 30, 2010 Canfor-LP [Member] OSB [Member]	Jun. 30, 2011 Canfor-LP [Member] OSB [Member]	Jun. 30, 2010 Canfor-LP [Member] OSB [Member]
Related Party Transaction [Line Items]
Ownership in affiliates	50.00%
Revenue from affiliates	$ 2.9		$ 1.5	$ 2.3	$ 4.0
Expenses from affiliates						9.1	13.3	16.8	24.0	21.9	30.5	46.5	54.1
Due from affiliates	1.9	1.6
Due to affiliates	$ 2.1	$ 2.4

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Potential Impairments (Details) (USD $)	6 Months Ended
	Jun. 30, 2011
Asset Impairment Charges [Abstract]
Tangible Asset Impairment Charges	$ 0

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Receivables (Details) (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
Receivables [Abstract]
Trade receivables	$ 83.5	$ 56.2
Interest receivables	1.1	1.1
Other receivables	9.8	10.8
Allowance for doubtful accounts	(1.4)	(1.3)
Total	$ 93.0	$ 66.8

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Guarantees and Indemnifications (Details) (USD $) In Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Product Liability Contingency [Line Items]
Guarentee to joint venture bank lender	$ 1.5		$ 1.5
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning Balance	28.3	31.9	29.5	32.9
Accrued to expense	3.8	2.0	4.9	3.1
Payments made	(1.5)	(3.3)	(3.8)	(5.4)
Ending Balance	30.6	30.6	30.6	30.6
Current portion of warranty reserves	(10.0)	(10.0)	(10.0)	(10.0)
Long-term portion of warranty reserves	$ 20.6	$ 20.6	$ 20.6	$ 20.6

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Fair Value Measurements

6 Months Ended

Jun. 30, 2011

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

LP’s investments that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant non-observable inputs.

Dollar amounts in millions	June 30, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities	$	19.6	$	—	$	4.4	$	15.2
Trading securities	2.8		2.8		—		—
Total	$	22.4	$	2.8	$	4.4	$	15.2
Dollar amounts in millions	December 31, 2010		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities	$	15.4	$	—	$	3.8	$	11.6
Trading securities	2.6		2.6		—		—
Total	$	18.0	$	2.6	$	3.8	$	11.6

Available for sale securities measured at fair value as of June 30, 2011 and December 31, 2010 are recorded in cash and cash equivalents, long-term investments and restricted cash on LP’s consolidated balance sheets. Included in available for sale securities are auction rate securities (ARS).

Due to the lack of observable market quotations on a portion of LP’s ARS portfolio, LP evaluates the structure of its ARS holdings and current market estimates of fair value, including fair value estimates from issuing banks that rely exclusively on Level 3 inputs. These inputs include those that are based on expected cash flow streams and collateral values, including assessments of counterparty credit quality, default risk underlying the security, discount rates and overall capital market liquidity. The valuation of LP’s ARS investment portfolio is subject to uncertainties that are difficult to predict. Factors that may impact LP’s valuation include changes to credit ratings of the securities as well as to the underlying assets supporting those securities, rates of default of the underlying assets, underlying collateral value, discount rates, counterparty risk and ongoing strength and quality of market credit and liquidity. Subsequent to June 30, 2011, LP generated $18.7 million in cash plus accrued interest associated with the sale of these securities with a fair market value as of June 30, 2011 of $18.5 million ($35.9 million, par value). This sale will result in a gain of $14.4 million which LP will recorded in the third quarter of 2011.

Trading securities consist of rabbi trust financial assets which are recorded in other assets in LP’s consolidated balance sheets. The rabbi trust holds the assets of the Louisiana-Pacific Corporation 2004 Executive Deferred Compensation Plan (EDC), a non-qualified deferred compensation plan which allows certain management employees to defer receipt of a portion of their compensation and contribute such amounts to one or more investment funds. The assets of the rabbi trust are invested in mutual funds and are reported at fair value based on active market quotations, which represent Level 1 inputs.

The following table summarizes assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods ended June 30, 2010 and June 30, 2011.

Dollar amounts in millions	Available for sale  securities
Balance at December 31, 2009	$	26.3
Total realized/unrealized gains (losses) included in other comprehensive income	7.8
Balance at June 30, 2010	$	34.1
The amount of total losses for the period included in net loss attributable to the fair value of changes in assets still held at June 30, 2010	$	—
Balance at December 31, 2010	$	11.6
Total realized/unrealized gains (losses) included in other comprehensive income	3.6
Balance at June 30, 2011	$	15.2
The amount of total losses for the period included in net loss attributable to the fair value of changes in assets still held at June 30, 2011	$	—

Carrying amounts reported on the balance sheet for cash, cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these investments.

During the quarter ended March 31, 2010, LP recorded an impairment charge of $1.1 million to reduce the carrying value of the assets held for sale to the estimated selling price less selling cost. The valuation of these assets was determined using level one inputs under the market approach.

During the quarter ended March 31, 2011, LP recorded an impairment charge of $3.6 million to reduce the carrying value of the assets held for sale to the estimated selling price less selling cost. The valuation of these assets was determined using level one inputs under the market approach. Additionally, LP recorded an impairment charge of $1.9 million on assets no longer used.

During the quarter ended June 30, 2011, LP recorded an impairment charge of $2.5 million on assets no longer used.

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Stock-Based Compensation (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to all stock-based compensation plans	$ 1.3	$ 2.2	$ 4.8	$ 5.4
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to award			0.7
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	3.4		3.4
Weighted-average period of years costs are expected to be recognied over			1.5
Compensation expense related to award			$ 1.4

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table sets out the weighted average assumptions used to estimate the fair value of the options and SSARs granted using the Black-Scholes option-pricing model in the first six months of the respective years noted:

	2011			2010
Expected stock price volatility	63.9		%	59.5		%
Expected dividend yield	—			—
Risk-free interest rate	2.1		%	2.4		%
Expected life of options	5.16			5.13
Weighted average fair value of options and SSARs granted	$	5.62		$	3.73

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes stock options and SSARs outstanding as of June 30, 2011 as well as activity during the six month period then ended.

Share amounts in thousands	Options and SSARs		Weighted Average Exercise Price		Weighted Average Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Options / SSARs outstanding at January 1, 2011	7,580		$	13.10
SSARs granted	813		10.12
Options / SSARs exercised	(18	)	4.93
Options /SSARs cancelled	(47	)	14.14
Options / SSARs outstanding at June 30, 2011	8,328		$	12.82	6.8	$	12.0
Vested and expected to vest at June 30, 2011	7,912		—		—	$	11.4
Options / SSARs exercisable at June 30, 2011	6,136		$	14.96	—	$	7.5

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

The following table summarizes incentive share awards outstanding as of June 30, 2011 as well as activity during the six months then ended.

	Shares		Weighted Average Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Incentive share awards outstanding at January 1, 2011	955,936
Incentive share awards granted	300,816
Incentive share awards vested	(121,500	)
Incentive share awards cancelled	(32,117	)
Incentive share awards outstanding at June 30, 2011	1,103,135		1.50	$	9.0
Vested and expected to vest at June 30, 2011	1,047,978		1.50	$	8.6
Incentive share awards exercisable at June 30, 2011	—		—	—

Restricted Stock Activity [Table Text Block]

The following table summarizes the restricted stock outstanding as of June 30, 2011 as well as activity during the six months then ended.

	Six Months Ended June 30, 2011
	Number of Shares		Weighted Average Grant Date Fair Value
Restricted stock awards outstanding at January 1, 2011	783,289		$	6.31
Restricted stock awards granted	139,239		10.30
Restrictions lapsing	(171,800	)	15.27
Restricted stock awards at June 30, 2011	750,728		$	5.00

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Discontinued Operations (Details) (USD $) In Millions	6 Months Ended
	Jun. 30, 2011
Discontinued Operations and Disposal Groups [Abstract]
Increase in warranty reserves associated with discontinued operations	$ 3.8
Discontinued operations expense due to settlement with customer	$ 1.9

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Contingency Reserves Hardboard Contingencies Rollforward (Details) (USD $) In Millions			6 Months Ended
	Jun. 30, 2011	Dec. 31, 2010	Jun. 30, 2011 Hardboard Siding Reserves [Member]	Jun. 30, 2010 Hardboard Siding Reserves [Member]
Loss Contingency Accrual [Roll Forward]
Beginning Balance	$ 32.1	$ 32.9	$ 17.8	$ 24.2
Payments made for claims			(0.4)	(2.0)
Payments made for administrative costs			(0.2)	(0.8)
Ending Balance	$ 32.1	$ 32.9	$ 17.2	$ 21.4

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Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2011

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

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

The current book values of assets held for sale by category is as follows:

Dollars in millions	June 30, 2011			December 31, 2010
Property, plant and equipment, at cost:
Land, land improvements and logging roads, net of road amortization	$	13.3		$	13.4
Buildings	22.2			24.5
Machinery and equipment	187.9			197.7
	223.4			235.6
Accumulated depreciation	(171.9		)	(177.7		)
Net property, plant and equipment	$	51.5		$	57.9

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Basis For Presentation (Details) (Maximum [Member])	6 Months Ended
	Jun. 30, 2011
Maximum [Member]
Percentage Used To Determine Noncontrolling Interest Presentation	1.00

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Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share:

Dollar and share amounts in millions, except per share amounts	Quarter Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Numerator:
Loss attributed to LP common shares:
Income (loss) from continuing operations	$	(33.0	)	$	23.5		$	(56.0	)	$	1.2
Loss from discontinued operations	(2.5		)	(1.2		)	(2.5		)	(1.4		)
Net income (loss)	$	(35.5	)	$	22.3		$	(58.5	)	$	(0.2	)
Denominator:
Basic - weighted average common shares outstanding	131.4			128.5			131.3			127.2
Dilutive effect of stock warrants	—			9.5			—			9.3
Dilutive effect of stock plans	—			1.8			—			1.7
Diluted shares outstanding	131.4			139.8			131.3			138.2
Basic earnings per share:
Income (loss) from continuing operations	$	(0.25	)	$	0.18		$	(0.43	)	$	0.01
Loss from discontinued operations	(0.02		)	(0.01		)	(0.02		)	(0.01		)
Net income (loss) per share	$	(0.27	)	$	0.17		$	(0.45	)	$	—
Diluted earnings per share:
Income (loss) from continuing operations	$	(0.25	)	$	0.17		$	(0.43	)	$	0.01
Loss from discontinued operations	(0.02		)	(0.01		)	(0.02		)	(0.01		)
Net income (loss) per share	$	(0.27	)	$	0.16		$	(0.45	)	$	—

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Transactions with Affiliates

6 Months Ended

Jun. 30, 2011

Related Party Transactions [Abstract]

Transactions with Affiliates

TRANSACTIONS WITH AFFILIATES

LP has equity investments in AbitibiBowater-LP (a manufacturer of I-joist) and Canfor-LP ( a manufacturer of OSB). LP sells products and raw materials to AbitibiBowater-LP and purchases products for resale from AbitibiBowater-LP and Canfor-LP. LP eliminates 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 quarters ended June 30, 2011 and 2010, LP sold $1.5 million and $2.3 million of products to AbitibiBowater-LP and purchased $9.1 million and $13.3 million of I-joist from AbitibiBowater-LP. LP also purchased $21.9 million and $30.5 million of OSB from Canfor-LP during the quarters ended June 30, 2011 and 2010. For the six month periods ended June 30, 2011 and 2010, LP sold $2.9 million and $4.0 million of products to AbitibiBowater-LP and purchased $16.8 million and $24.0 million of I-joist from AbitibiBowater-LP. LP also purchased $46.5 million and $54.1 million of OSB from Canfor-LP during the six months ended June 30, 2011 and 2010. Included in LP’s Consolidated Balance Sheets at June 30, 2011 and December 31, 2010 are $1.9 million and $1.6 million in accounts receivable from these affiliates and $2.1 million and $2.4 million in accounts payable related to these affiliates.

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Long-term Debt Issuance (Details)			6 Months Ended
	Jun. 30, 2011 USD ($)	Dec. 31, 2010 USD ($)	Jun. 30, 2011 Chilean Bank Loan [Member] CLP payments	Jun. 30, 2011 Senior Notes Payable 2012 [Member] USD ($)	Dec. 31, 2010 Senior Notes Payable 2012 [Member] USD ($)	Dec. 31, 1997 Senior Notes Payable 2012 [Member] USD ($)	Jun. 30, 2011 Senior Notes Payable 2013 Thru 2018 [Member] USD ($)	Dec. 31, 2010 Senior Notes Payable 2013 Thru 2018 [Member] USD ($)	Dec. 31, 1998 Senior Notes Payable 2013 Thru 2018 [Member] USD ($)	Jun. 30, 2011 Non Recourse Notes Payable 2018 [Member] USD ($)	Dec. 31, 2010 Non Recourse Notes Payable 2018 [Member] USD ($)	Dec. 31, 2003 Non Recourse Notes Payable 2018 [Member] USD ($)	Jun. 30, 2011 Senior Secured Notes Maturing 2017 [Member] USD ($)	Dec. 31, 2010 Senior Secured Notes Maturing 2017 [Member] USD ($)
Debt Instrument [Line Items]
Amount of loan issuance						$ 47,900,000			$ 348,600,000			$ 368,700,000
Notes payable				7,900,000	7,900,000		112,000,000	112,000,000		368,700,000	368,700,000		186,400,000	183,500,000
Maturity in 2013							90,000,000
Maturity in 2018							22,000,000
Notes receivable used as collateral on loan	9,900,000						113,700,000			410,000,000
Amount of indebtedness liable for in event of default of notes receivable collateral							10.00%			10.00%
Maximum exposure from debt		41,000,000								41,000,000
Number of Future Semi Annual Payments			16
Principal paid on debt			0
Fair value of debt													$ 255,900,000	$ 263,000,000

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Contingency Reserves (Details) (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010	Jun. 30, 2010	Dec. 31, 2009
Loss Contingencies [Line Items]
Loss contingency accrual	$ 32.1	$ 32.9
Current portion of contingency reserves	(7.0)	(7.0)
Long-term portion of contingency reserves	25.1	25.9
Environmental reserves [Member]
Loss Contingencies [Line Items]
Loss contingency accrual	14.8	14.3
Hardboard Siding Reserves [Member]
Loss Contingencies [Line Items]
Loss contingency accrual	17.2	17.8	21.4	24.2
Other Reserves [Member]
Loss Contingencies [Line Items]
Loss contingency accrual	$ 0.1	$ 0.8

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Earnings per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS PER SHARE

Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share are based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents (employee stock options, stock settled stock appreciation rights, incentive shares and warrants) be excluded from the calculation of diluted earnings per share for the periods in which losses from continuing operations are reported because the effect is anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share:

Dollar and share amounts in millions, except per share amounts	Quarter Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Numerator:
Loss attributed to LP common shares:
Income (loss) from continuing operations	$	(33.0	)	$	23.5		$	(56.0	)	$	1.2
Loss from discontinued operations	(2.5		)	(1.2		)	(2.5		)	(1.4		)
Net income (loss)	$	(35.5	)	$	22.3		$	(58.5	)	$	(0.2	)
Denominator:
Basic - weighted average common shares outstanding	131.4			128.5			131.3			127.2
Dilutive effect of stock warrants	—			9.5			—			9.3
Dilutive effect of stock plans	—			1.8			—			1.7
Diluted shares outstanding	131.4			139.8			131.3			138.2
Basic earnings per share:
Income (loss) from continuing operations	$	(0.25	)	$	0.18		$	(0.43	)	$	0.01
Loss from discontinued operations	(0.02		)	(0.01		)	(0.02		)	(0.01		)
Net income (loss) per share	$	(0.27	)	$	0.17		$	(0.45	)	$	—
Diluted earnings per share:
Income (loss) from continuing operations	$	(0.25	)	$	0.17		$	(0.43	)	$	0.01
Loss from discontinued operations	(0.02		)	(0.01		)	(0.02		)	(0.01		)
Net income (loss) per share	$	(0.27	)	$	0.16		$	(0.45	)	$	—

For the quarter and six month period ended June 30, 2011, stock options, stock warrants and SSARs relating to approximately 9.0 million and 9.2 million shares of LP common stock were considered anti-dilutive for purposes of LP’s earnings per share calculation due to LP’s loss position from continuing operations. For the quarter and six month period ended June 30, 2010, stock options, stock warrants and SSARs relating to approximately 5.6 million and 5.4 million shares of LP common stock were considered anti-dilutive or not in-the-money for purpose of LP's earnings per share calculation.

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Potential Impairments

6 Months Ended

Jun. 30, 2011

Asset Impairment Charges [Abstract]

Potential Impairments

POTENTIAL IMPAIRMENTS

LP continues to review certain operations and investments for potential impairments. LP’s management currently believes it has adequate support for the carrying value of each of these operations and investments based upon the anticipated cash flows that result from estimates of future demand, pricing and production costs assuming certain levels of planned capital expenditures. As of June 30, 2011, the undiscounted cash flows for the facilities indefinitely curtailed support the conclusion that no impairment is necessary for those facilities. However, if demand and pricing for the relevant products continues at levels significantly below cycle average demand and pricing, or should LP decide to invest capital in alternative projects, it is possible that impairment charges will be required.

LP also reviews from time to time possible dispositions of various assets in light of current and anticipated economic and industry conditions, its strategic plan and other relevant circumstances. Because a determination to dispose of particular assets can require management to make assumptions regarding the transaction structure of the disposition and to estimate the net sales proceeds, which may be less than previous estimates of undiscounted future net cash flows, LP may be required to record impairment charges in connection with decisions to dispose of assets.

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Noncontrolling Interest (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2011
Noncontrolling Interest [Line Items]
Percentage of non controlling interest acquired	25.00%
Payment to acquire remaining 25% of LP Brazil	$ 24.0
Chilian Term Credit Facility Maturing 2019 [Member]
Noncontrolling Interest [Line Items]
Increase in notes payable for acquisition of LP Brazil	$ 4.5

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Defined Benefit Pension Plans (Details) (USD $) In Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 0.8	$ 0.7	$ 1.6	$ 1.7
Interest cost	4.0	4.4	8.0	9.8
Expected return on plan assets	(4.5)	(4.7)	(9.0)	(10.7)
Amortization of prior service cost	0.1	0.1	0.2	0.2
Amortization of net loss	1.1	1.2	2.2	2.8
Net periodic pension cost	1.5	1.7	3.0	3.8
Pension expense			3.0	3.8
Minimum [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Anticipated pension contributions in remained of 2011	10		10
Maximum [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Anticipated pension contributions in remained of 2011	$ 12		$ 12

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Defined Benefit Pension Plans (Tables)

6 Months Ended

Jun. 30, 2011

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The net periodic pension cost included the following components:

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Service cost	$	0.8		$	0.7		$	1.6		$	1.7
Interest cost	4.0			4.4			8.0			9.8
Expected return on plan assets	(4.5		)	(4.7		)	(9.0		)	(10.7		)
Amortization of prior service cost	0.1			0.1			0.2			0.2
Amortization of net loss	1.1			1.2			2.2			2.8
Net periodic pension cost	$	1.5		$	1.7		$	3.0		$	3.8

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2011

Fair Value Disclosures [Abstract]

Fair Value, Measurement Inputs, Disclosure [Table Text Block]

Dollar amounts in millions	June 30, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities	$	19.6	$	—	$	4.4	$	15.2
Trading securities	2.8		2.8		—		—
Total	$	22.4	$	2.8	$	4.4	$	15.2
Dollar amounts in millions	December 31, 2010		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities	$	15.4	$	—	$	3.8	$	11.6
Trading securities	2.6		2.6		—		—
Total	$	18.0	$	2.6	$	3.8	$	11.6

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table summarizes assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods ended June 30, 2010 and June 30, 2011.

Dollar amounts in millions	Available for sale  securities
Balance at December 31, 2009	$	26.3
Total realized/unrealized gains (losses) included in other comprehensive income	7.8
Balance at June 30, 2010	$	34.1
The amount of total losses for the period included in net loss attributable to the fair value of changes in assets still held at June 30, 2010	$	—
Balance at December 31, 2010	$	11.6
Total realized/unrealized gains (losses) included in other comprehensive income	3.6
Balance at June 30, 2011	$	15.2
The amount of total losses for the period included in net loss attributable to the fair value of changes in assets still held at June 30, 2011	$	—

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Consolidated Statements of Cash Flows (USD $) In Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (35.4)	$ 22.4	$ (58.3)	$ (0.3)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	20.2	22.4	41.6	42.8
(Gain) loss from unconsolidated affiliates	7.4	(0.9)	10.7	(0.2)
(Gain) loss on sale or impairment of long-lived assets	2.5	(0.1)	8.0	1.2
Other operating charges and credits, net	(1.5)	2.8	(1.5)	2.7
Exchange loss on remeasurement	0.2	(0.3)	2.7	0.2
Cash settlement of contingencies	(0.4)	(1.0)	(0.9)	(3.4)
Pension (payments) expense, net	0.4	1.4	0.4	3.4
Stock-based compensation expense	1.3	2.2	4.8	5.4
Other adjustments, net	7.2	1.6	7.6	3.5
Decrease (increase) in receivables	5.8	(14.3)	(24.7)	(50.7)
Decrease (increase) in income tax receivable	13.4	(9.7)	4.7	37.4
Decrease (increase) in inventories	29.2	19.4	(20.6)	(24.2)
Decrease (increase) in prepaid expenses	(5.3)	(5.8)	(2.9)	(1.6)
Increase (decrease) in accounts payable and accrued liabilities	(4.0)	7.6	(2.3)	8.6
Increase (decrease) in deferred income taxes	(11.6)	20.0	(8.3)	10.8
Net cash provided by (used in) operating activities	29.4	67.7	(39.0)	35.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(5.6)	(3.5)	(8.0)	(5.4)
Investments and advances to joint ventures	(1.1)	8.2	(3.1)	6.1
Proceeds from sales of assets	0.3	1.2	0.3	1.2
Receipt of proceeds from notes receivable	0	115.1	0	115.1
Decrease in restricted cash under letters of credit/credit facility	8.1	5.3	16.4	5.2
Other investing activities, net	0	(0.4)	0	0
Net cash provided by investing activities	1.7	125.9	5.6	122.2
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long term debt	(0.1)	(113.8)	(0.1)	(113.8)
Short term borrowings	4.5	0	4.5	0
Redemption of non-controlling interest	(24.0)	0	(24.0)	0
Payment of debt issuance fees	(1.0)	0	(1.0)	0
Net cash used in financing activities	(20.6)	(113.8)	(20.6)	(113.8)
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS	2.3	(0.1)	(1.3)	(1.0)
Net increase (decrease) in cash and cash equivalents	12.8	79.7	(55.3)	43.0
Cash and cash equivalents at beginning of period	321.2	357.4	389.3	394.1
Cash and cash equivalents at end of period	$ 334.0	$ 437.1	$ 334.0	$ 437.1

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Contingency Reserves

6 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

Contingency Reserves

CONTINGENCY RESERVES

LP maintains reserves for various contingent liabilities as follows:

Dollar amounts in millions	June 30, 2011			December 31, 2010
Environmental reserves	$	14.8		$	14.3
Hardboard siding reserves	17.2			17.8
Other reserves	0.1			0.8
Total contingency reserves	32.1			32.9
Current portion of contingency reserves	(7.0		)	(7.0		)
Long-term portion of contingency reserves	$	25.1		$	25.9

Hardboard Siding Reserves

LP has established reserves relating to certain liabilities associated with a settlement agreement resulting from a nationwide class action lawsuit involving hardboard siding manufactured or sold by corporations acquired by LP in 1999 and installed prior to May 15, 2000 which was approved by the applicable courts in 2000. This settlement is discussed in greater detail in the Notes to the financial statements included in LP’s Annual Report on Form 10-K for the year ended December 31, 2010. LP believes that the reserve balance for this settlement at June 30, 2011 will be adequate to cover future payments to claimants and related administrative costs.

The activity in the portion of LP's loss contingency reserves relating to hardboard siding contingencies for the first six months of 2011 and 2010 are summarized in the following table.

Dollar amounts in millions	June 30, 2011			June 30, 2010
Beginning balance, December 31,	$	17.8		$	24.2
Payments made for claims	(0.4		)	(2.0		)
Payments made for administrative costs	(0.2		)	(0.8		)
Ending balance	$	17.2		$	21.4

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Stock-Based Compensation Outstanding Options and SSARs (Details) (USD $) In Millions, except Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2011 years	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Beginning balance	7,580,000
Incentive shares granted	813,000
Options / SSARs exercised	(18,000)
Options / SSARs cancelled	(47,000)
Ending balance	8,328,000
Options / SSARs outstanding Weighted Average Exercise Price	$ 12.82	$ 13.10
SSARs granted Weighted Average Exercise Price	$ 10.12
Options / SSARs exercised Weighted Average Exercise Price	$ 4.93
Options / SSARs cancelled Weighted Average Exercise Price	$ 14.14
Options / SSARs outstanding Weighted Average Contractual Term (in years)	6.8
Options / SSARs outstanding Aggregate Intrinsic Value (in millions)	$ 12.0
Vested and expected to vest	7,912,000
Vested and expected to vest Aggregate Intrinsic Value (in millions)	11.4
Options / SSARs exercisable	6,136,000
Options / SSARs exercisable Weighted Average Exercise Price	$ 14.96
Options / SSARs exercisable Aggregate Intrinsic Value (in millions)	7.5
Stock Options [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of months for options to vest at an incremental rate of ten percent for directors	3 months
Options and SSARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Weighted-average period of years costs are expected to be recognied over	1.7
Compensation expense related to award	2.7
Unrecognized compensation costs	$ 1.5
Shares available under stock award plans	4,715,177
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Years SSARs become ratably exercisable over	3 years
Years until SSARs expire	P10Y
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Starting Term When Options Become Exercisable After Grant Date	3 months

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Guarantees and Indemnifications

6 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

Guarantees and Indemnifications

GUARANTEES AND INDEMNIFICATIONS

LP is a party to contracts in which LP agrees to indemnify third parties for certain liabilities that arise out of or relate to the subject matter of the contract. In some cases, this indemnity extends to liabilities arising out of the negligence of the indemnified parties, but usually excludes any liabilities caused by gross negligence or willful misconduct of the indemnified parties. LP cannot estimate the potential amount of future payments under these agreements until events arise that would trigger the liability. See Note 21 of the Notes to the financial statements included in LP’s Annual Report on Form 10-K for the year ended December 31, 2010 for further discussion of LP’s guarantees and indemnifications.

During the first quarter of 2011, LP provided a guarantee on behalf of one of its joint ventures to the joint venture bank lender of $1.5 million.

Additionally, LP provides warranties on the sale of most of its products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management’s estimate of the level of future claims. The activity in warranty reserves for the second quarter and first six months of 2011 and 2010 are summarized in the following table:

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Beginning balance	$	28.3		$	31.9		$	29.5		$	32.9
Accrued to expense	3.8			2.0			4.9			3.1
Payments made	(1.5		)	(3.3		)	(3.8		)	(5.4		)
Total warranty reserves	30.6			30.6			30.6			30.6
Current portion of warranty reserves	(10.0		)	(10.0		)	(10.0		)	(10.0		)
Long-term portion of warranty reserves	$	20.6		$	20.6		$	20.6		$	20.6

During the second quarter of 2011, LP increased the warranty reserves related to discontinued composite decking products by $3.8 million. The additional reserves reflect revised estimates of future claim payments based upon an increase in decking warranty claims related to a specific operation and specific time period. LP continues to monitor warranty and other claims associated with these products and believes as of June 30, 2011 that the reserves associated with these matters are adequate.

The current portion of the warranty reserve is included in the caption “Accounts payable and accrued liabilities” and the long-term portion is included in the caption “Other long-term liabilities” on LP’s Condensed Consolidated Balance Sheets.

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Consolidated Statements of Comprehensive Income (USD $) In Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Net income (loss)	$ (35.4)	$ 22.4	$ (58.3)	$ (0.3)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	4.9	(2.3)	4.3	(4.7)
Unrealized gain (loss) on derivative instruments	0.8	0.2	0.6	0.1
Unrealized gain (loss) on marketable securities	0.4	(1.3)	2.6	4.8
Defined benefit pension plans:
Amortization of prior service cost	0.7	0	1.0	0
Amortization of net loss	0	0.9	0	1.5
Other comprehensive income (loss), net of tax	6.8	(2.5)	8.5	1.7
Net (income) loss attributable to noncontrolling interest	(0.1)	(0.1)	(0.2)	0.1
Foreign currency translation adjustments attributed to non-controlling interest	(0.6)	0	(1.0)	0.4
Comprehensive income (loss)	$ (29.3)	$ 19.8	$ (51.0)	$ 1.9

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Long-term Debt

6 Months Ended

Jun. 30, 2011

Debt Disclosure [Abstract]

Long-term Debt

LONG-TERM DEBT

LP’s long-term debt consists of the following:

Dollars in millions	June 30, 2011			December 31, 2010
Debentures:
Senior secured notes, maturing 2017	$	186.4		$	183.5
Bank credit facilities:
Chilean term credit facility, maturing 2019, denominated in UF	44.2			42.3
Limited recourse notes payable:
Senior notes, payable 2012	7.9			7.9
Senior notes, payable 2013 - 2018	112.0			112.0
Other financing
Non-recourse notes, payable 2018	368.7			368.7
Other	0.5			0.3
Total	719.7			714.7
Less: current portion	(2.9		)	(0.2		)
Net long-term portion	$	716.8		$	714.5

LP issued $47.9 million of senior notes in 1997 in a private placement to institutional investors. The $7.9 million remaining notes are secured by $9.9 million in notes receivable from Sierra Pacific Industries and mature in 2012. In the event of a default by Sierra Pacific Industries, LP is fully liable for the notes payable with the underlying timberlands as security for the notes receivable.

LP issued $348.6 million of senior debt in 1998 in a private placement to institutional investors. The remaining $112.0 million of these notes mature in principal amounts of $90.0 million in 2013 and $22.0 million in 2018. The remaining notes are secured by $113.7 million of notes receivable from Green Diamond Resource Company (Green Diamond). Pursuant to the terms of the notes payable, in the event of a default by Green Diamond, LP would be liable to pay only 10% of the indebtedness represented by the notes payable with the underlying timberlands as security for the notes receivable.

LP issued $368.7 million of senior debt in 2003 in a private placement to unrelated third parties. The notes mature in 2018. The notes are supported by a bank letter of credit. LP’s reimbursement obligations under the letter of credit are secured by $410 million in notes receivable from assets sales. In general, the creditors under this arrangement have no recourse to LP’s assets, other than the notes receivable. However, under certain circumstances, LP may be liable for certain liabilities (including liabilities associated with the marketing or remarketing of the notes payable and reimbursement obligations, which are fully cash collateralized under the letter of credit supporting the notes payable) in an amount not to exceed 10% of the aggregate principal amount of the notes receivable. LP’s maximum exposure in this regard was approximately $41 million as of June 30, 2011 and December 31, 2010.

In December 2009, LP entered into a term loan agreement with a Chilean bank. This loan is denominated in UF (inflation adjusted Chilean pesos) and is partially secured by property, plant and equipment in Chile. The loan will be repaid in 16 equal semi-annual payments beginning in June 2012 and ending December 2019. As of June 30, 2011, no principal payments have been made on this loan. Any increases or decreases in the loan balance shown are related to the change in the underlying foreign currency exchange rates or required inflation adjustments.

LP estimates the senior secured notes maturing in 2017 to have a fair value of $255.9 million as of June 30, 2011 and $263 million at December 31, 2010 based upon market quotations.

Additional descriptions of LP’s indebtedness are included in consolidated financial statements and the notes thereto included in LP’s Annual Report on Form 10-K for the year ended December 31, 2010.

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Long-term Debt (Details) (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
Notes and Loans Payable [Abstract]
Other	$ 0.5	$ 0.3
Total	719.7	714.7
Less: current portion	(2.9)	(0.2)
Net long-term portion	716.8	714.5
Senior Secured Notes Maturing 2017 [Member]
Notes and Loans Payable [Abstract]
Notes payable	186.4	183.5
Chilian Term Credit Facility Maturing 2019 [Member]
Notes and Loans Payable [Abstract]
Notes payable	44.2	42.3
Senior Notes Payable 2012 [Member]
Notes and Loans Payable [Abstract]
Notes payable	7.9	7.9
Senior Notes Payable 2013 Thru 2018 [Member]
Notes and Loans Payable [Abstract]
Notes payable	112.0	112.0
Non Recourse Notes Payable 2018 [Member]
Notes and Loans Payable [Abstract]
Notes payable	$ 368.7	$ 368.7

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Selected Segment Data (Details) (USD $) In Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Segment Reporting Information [Line Items]
Net sales:	$ 362.4	$ 447.5	$ 694.1	$ 744.5
Operating profit (loss):	(23.6)	48.9	(41.8)	26.2
Other operating credits and charges, net	0.6	(0.6)	1.4	(0.5)
Gain (loss) on sale or impairment of long-lived assets	(2.5)	0.1	(8.0)	(1.2)
General corporate and other expenses, net	(16.5)	(18.2)	(34.5)	(37.9)
Foreign currency gains (losses)	0.6	(0.1)	2.4	1.4
Investment income	3.5	4.3	7.5	10.2
Interest expense, net of capitalized interest	(14.4)	(17.7)	(28.4)	(34.5)
Loss from continuing operations before taxes	(41.3)	36.3	(71.0)	3.5
Provision (benefit) for income taxes	(8.4)	12.7	(15.2)	2.4
Income (loss) from continuing operations	(32.9)	23.6	(55.8)	1.1
OSB [Member]
Segment Reporting Information [Line Items]
Net sales:	140.6	217.8	272.6	335.4
Operating profit (loss):	(22.9)	47.9	(32.0)	43.4
Siding [Member]
Segment Reporting Information [Line Items]
Net sales:	118.6	130.6	224.7	220.4
Operating profit (loss):	11.3	21.8	24.0	30.3
Engineered Wood Products [Member]
Segment Reporting Information [Line Items]
Net sales:	53.6	55.9	101.9	104.7
Operating profit (loss):	(3.2)	(4.4)	(8.7)	(10.9)
Other [Member]
Segment Reporting Information [Line Items]
Net sales:	49.9	47.6	95.8	88.9
Operating profit (loss):	2.2	3.7	5.3	3.7
Intersegment elimination [Member]
Segment Reporting Information [Line Items]
Net sales:	(0.3)	(4.4)	(0.9)	(4.9)
Operating profit (loss):	$ 0	$ (0.5)	$ 0	$ (0.5)

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2011

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax components and associated effective income tax rates for the quarter and six months periods ended June 30, 2011 and 2010 are as follows:

	Quarter Ended June 30,
	2011					2010
Dollars in millions	Tax Benefit			Tax Rate		Tax Provision (Benefit)			Tax Rate
Continuing operations	$	(8.4	)	20	%	$	12.7		35	%
Discontinued operations	(1.6		)	39	%	(0.8		)	39	%
	$	(10.0	)	22	%	$	11.9		35	%
	Six Months Ended June 30,
	2011					2010
	Tax Benefit			Tax Rate		Tax Provision (Benefit)			Tax Rate
Continuing operations	$	(15.2	)	21	%	$	2.4		69	%
Discontinued operations	(1.6		)	39	%	(0.9		)	39	%
	$	(16.8	)	22	%	$	1.5		115	%

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Selected Segment Data

6 Months Ended

Jun. 30, 2011

Segment Reporting [Abstract]

Selected Segment Data

SELECTED SEGMENT DATA

LP operates in three segments: Oriented Strand Board (OSB), Siding, and Engineered Wood Products (EWP). LP’s business units have been aggregated into these three segments based upon the similarity of economic characteristics, customers and distribution methods. LP’s 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. Segment information was prepared in accordance with the same accounting principles as those described in Note 1 of the Notes to the financial statements included in LP’s Annual Report on Form 10-K for the year ended December 31, 2010.

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Net sales:
OSB	$	140.6		$	217.8		$	272.6		$	335.4
Siding	118.6			130.6			224.7			220.4
Engineered Wood Products	53.6			55.9			101.9			104.7
Other	49.9			47.6			95.8			88.9
Intersegment Sales	(0.3		)	(4.4		)	(0.9		)	(4.9		)
	$	362.4		$	447.5		$	694.1		$	744.5
Operating profit (loss):
OSB	$	(22.9	)	$	47.9		$	(32.0	)	$	43.4
Siding	11.3			21.8			24.0			30.3
Engineered Wood Products	(3.2		)	(4.4		)	(8.7		)	(10.9		)
Other	2.2			3.7			5.3			3.7
Less intersegment profits	—			(0.5		)	—			(0.5		)
Other operating credits and charges, net	0.6			(0.6		)	1.4			(0.5		)
Gain (loss) on sale or impairment of long-lived assets	(2.5		)	0.1			(8.0		)	(1.2		)
General corporate and other expenses, net	(16.5		)	(18.2		)	(34.5		)	(37.9		)
Foreign currency gains (losses)	0.6			(0.1		)	2.4			1.4
Investment income	3.5			4.3			7.5			10.2
Interest expense, net of capitalized interest	(14.4		)	(17.7		)	(28.4		)	(34.5		)
Loss from continuing operations before taxes	(41.3		)	36.3			(71.0		)	3.5
Provision (benefit) for income taxes	(8.4		)	12.7			(15.2		)	2.4
Income (loss) from continuing operations	$	(32.9	)	$	23.6		$	(55.8	)	$	1.1

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Consolidated Statement of Income (USD $) In Millions, except Per Share data	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Net sales	$ 362.4	$ 447.5	$ 694.1	$ 744.5
Operating costs and expenses:
Cost of sales	336.3	346.3	631.3	614.3
Depreciation and amortization	20.2	22.4	41.6	42.8
Selling and administrative	27.6	29.4	56.4	59.5
(Gain) loss on sale or impairment of long-lived assets, net	2.5	(0.1)	8.0	1.2
Other operating credits and charges, net	(0.6)	0.6	(1.4)	0.5
Total operating costs and expenses	386.0	398.6	735.9	718.3
Income (loss) from operations	(23.6)	48.9	(41.8)	26.2
Non-operating income (expense):
Interest expense, net of capitalized interest	(14.4)	(17.7)	(28.4)	(34.5)
Investment income	3.5	4.3	7.5	10.2
Other non-operating items	0.6	(0.1)	2.4	1.4
Total non-operating expense	(10.3)	(13.5)	(18.5)	(22.9)
Income (loss) from continuing operations before taxes and equity in losses of unconsolidated affiliates	(33.9)	35.4	(60.3)	3.3
Provision (benefit) for income taxes	(8.4)	12.7	(15.2)	2.4
Equity in loss (income) of unconsolidated affiliates	7.4	(0.9)	10.7	(0.2)
Income (loss) from continuing operations	(32.9)	23.6	(55.8)	1.1
Loss from discontinued operations before taxes	(4.1)	(2.0)	(4.1)	(2.3)
Benefit for income taxes	(1.6)	(0.8)	(1.6)	(0.9)
Loss from discontinued operations	(2.5)	(1.2)	(2.5)	(1.4)
Net income (loss)	(35.4)	22.4	(58.3)	(0.3)
Less: Net income (loss) attributed to non-controlling interest	0.1	0.1	0.2	(0.1)
Net income (loss) attributed to Louisiana-Pacific Corporation	(35.5)	22.3	(58.5)	(0.2)
Net income (loss) per share of common stock (basic):
Income (loss) from continuing operations	$ (0.25)	$ 0.18	$ (0.43)	$ 0.01
Loss from discontinued operations	$ (0.02)	$ (0.01)	$ (0.02)	$ (0.01)
Net income (loss) per share	$ (0.27)	$ 0.17	$ (0.45)	$ 0.00
Net income (loss) per share of common stock (diluted):
Income (loss) from continuing operations	$ (0.25)	$ 0.17	$ (0.43)	$ 0.01
Loss from discontinued operations diluted	$ (0.02)	$ (0.01)	$ (0.02)	$ (0.01)
Net income (loss) per share diluted	$ (0.27)	$ 0.16	$ (0.45)	$ 0.00
Average shares of stock outstanding - basic	131.4	128.5	131.3	127.2
Average shares of stock outstanding - diluted	131.4	139.8	131.3	138.2
Amounts attributed to LP Corporation common shareholders
Income (loss) from continuing operations, net of tax	(33.0)	23.5	(56.0)	1.2
Loss from discontinued operations, net of tax	(2.5)	(1.2)	(2.5)	(1.4)
Net loss attributed to Louisiana-Pacific Corporation	$ (35.5)	$ 22.3	$ (58.5)	$ (0.2)

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Other Operating Credits and Charges, Net (Tables)

6 Months Ended

Jun. 30, 2011

Other Operating Credits And Charges, Net [Abstract]

Other Operating Credits and Charges Net [Table Text Block]

The major components of “Other operating credits and charges, net” in the Consolidated Statements of Income for the quarter and six month periods ended June 30, 2011 and 2010 are reflected in the table below and are described in the paragraphs following the table:

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Reversal of severance	$	—		$	—		$	—		$	0.1
Construction related legal reserves	—			(0.6		)	—			(0.6		)
Addition to environmental reserves	(0.9		)	—			(0.9		)	—
Timber related reserves	1.5			—			1.5			—
Settlement of legal claim	—			—			0.8			—
	$	0.6		$	(0.6	)	$	1.4		$	(0.5	)

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Fair Value Measurements Impairment losses (Details) (USD $) In Millions	3 Months Ended
	Jun. 30, 2011	Mar. 31, 2011	Mar. 31, 2010
Schedule of Available-for-sale Securities [Line Items]
Impairment charge of available for sale securities		$ 3.6	$ 1.1
Impairment charge of assets no longer used	$ 2.5	$ 1.9

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Other Operating Credits and Charges, Net (Details) (USD $) In Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2011	Mar. 31, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Gain Contingencies [Line Items]
Reversal of severance	$ 0		$ 0	$ 0	$ 0.1
Addition to environmental reserves	(0.9)		0	(0.9)	0
Timber related reserves	1.5		0	1.5	0
Settlement of legal claim	0	0.8	0	0.8	0
Other operating income (expense), net	0.6		(0.6)	1.4	(0.5)
OSB Mills Construction Related Legal Reserves [Member]
Gain Contingencies [Line Items]
Construction related legal reserves	$ 0		$ 0.6	$ 0	$ (0.6)

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Stock-Based Compensation Restricted Stock Units (Details) (USD $) In Millions, except Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Incentive shares granted	813,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Beginning balance	955,936
Incentive shares granted	300,816
Incentive share awards vested	(121,500)
Incentive share awards cancelled	(32,117)
Ending balance	1,103,135
Incentive share awards outstanding Weighted Average Contractual Term (in years)	1.50
Incentive share awards outstanding Aggregate Intrinsic Value (in millions)	$ 9.0
Vested and expected to vest	1,047,978
Vested and expected to vest Weighted Average Contractual Term (in years)	1.50
Vested and expected to vest Aggregate Intrinsic Value (in millions)	$ 8.6
Incentive share awards exercisable	0
Incentive share awards exercisable Weighted Average Contractual Term (in years)	0.00
Incentive share awards exercisable Aggregate Intrinsic Value (in millions)	$ 0

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Stock-Based Compensation Restricted and Phantom Stock (Details) (USD $) In Millions, except Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2011 years	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted stock awards granted	813,000
Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 2.6
Weighted-average period of years costs are expected to be recognied over	1.3
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Beginning balance	783,289
Restricted stock awards granted	139,239
Restrictions lapsing	(171,800)
Ending balance	750,728
Restricted stock awards outstanding	$ 5.00	$ 6.31
Restricted stock awards granted Weighted Average Grate Date Fair Value	$ 10.30
Restrictions lapsing Weighted Average Grant Date Fair Value	$ 15.27
Director [Member] | Phantom Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number Of Units Of Phantom Stock Used As Basis For Market Value Of Common Stock On Vesting Date	1
Number Of Units Of Common Stock Used To Measure Value Of Phantom Stock On Vesting Date	1
Years phantom stock vests over	5 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to award	$ 0.7
Phantom Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Ending balance	39,944

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Income Taxes (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate			35.00%
Continuing operations tax benefit	$ (8.4)	$ 12.7	$ (15.2)	$ 2.4
Discontinued operations tax benefit	(1.6)	(0.8)	(1.6)	(0.9)
Total tax benefit	$ (10.0)	$ 11.9	$ (16.8)	$ 1.5
Continuing operations effective tax rate	20.00%	35.00%	21.00%	69.00%
Discontinued operation effective tax rate	39.00%	39.00%	39.00%	39.00%
Total effective tax rate	22.00%	35.00%	22.00%	115.00%

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Selected Segment Data (Tables)

6 Months Ended

Jun. 30, 2011

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Quarter Ended June 30,						Six Months Ended June 30,
Dollar amounts in millions	2011			2010			2011			2010
Net sales:
OSB	$	140.6		$	217.8		$	272.6		$	335.4
Siding	118.6			130.6			224.7			220.4
Engineered Wood Products	53.6			55.9			101.9			104.7
Other	49.9			47.6			95.8			88.9
Intersegment Sales	(0.3		)	(4.4		)	(0.9		)	(4.9		)
	$	362.4		$	447.5		$	694.1		$	744.5
Operating profit (loss):
OSB	$	(22.9	)	$	47.9		$	(32.0	)	$	43.4
Siding	11.3			21.8			24.0			30.3
Engineered Wood Products	(3.2		)	(4.4		)	(8.7		)	(10.9		)
Other	2.2			3.7			5.3			3.7
Less intersegment profits	—			(0.5		)	—			(0.5		)
Other operating credits and charges, net	0.6			(0.6		)	1.4			(0.5		)
Gain (loss) on sale or impairment of long-lived assets	(2.5		)	0.1			(8.0		)	(1.2		)
General corporate and other expenses, net	(16.5		)	(18.2		)	(34.5		)	(37.9		)
Foreign currency gains (losses)	0.6			(0.1		)	2.4			1.4
Investment income	3.5			4.3			7.5			10.2
Interest expense, net of capitalized interest	(14.4		)	(17.7		)	(28.4		)	(34.5		)
Loss from continuing operations before taxes	(41.3		)	36.3			(71.0		)	3.5
Provision (benefit) for income taxes	(8.4		)	12.7			(15.2		)	2.4
Income (loss) from continuing operations	$	(32.9	)	$	23.6		$	(55.8	)	$	1.1