Committments and Contingent Liabilities

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies Disclosure [Abstract]

Commitments Disclosure [Text Block]

LP is primarily self-insured for workers’ compensation and employee health care liability costs. Self-insurance liabilities for workers’ compensation are determined based upon a valuation performed by an actuarial firm. The estimate of future workers’ compensation liabilities incorporates loss development and an estimate associated with incurred but not yet reported claims. These claims are discounted. Self-insurance liabilities for employee health costs are determined actuarially based upon claims filed and estimated claims incurred but not yet reported. These claims are not discounted.

The Company and its subsidiaries lease certain office, manufacturing, warehousing and other plant sites and equipment. The leases generally provide for the lessee to pay taxes, maintenance, insurance and certain other operating costs of the leased properties.

At December 31, 2011, future minimum annual rent commitments are as follows:

Dollar amounts in millions
Year ended December 31,
2012	$	2.9
2013	3.0
2014	3.1
2015	3.1
2016	0.6
Total	$	12.7

As of December 31, 2011, LP has entered into non-cancelable subleases for a portion of its corporate headquarters in Nashville, Tennessee. Minimum annual rent commitments have not been reduced by minimum sublease rentals of $1.8 million (in total for all years) due in the future. Rental expense for operating leases amounted to $9.5 million, $9.6 million and $9.5 million in 2011, 2010 and 2009.