Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill by segment for the years ended December 31, 2023 and 2022, are provided in the following table (dollars in millions):

	Siding		OSB		Total
Balance at December 31, 2021	$	4	$	16	$	19
Impairment charges	—		—		—
Balance at December 31, 2022	4		16		19
Impairment charges	—		—		—
Balance at December 31, 2023	$	4	$	16	$	19

Changes in other intangible assets for the years ended December 31, 2023 and 2022, are provided in the following table (dollars in millions):

	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2021	$	30	$	17	$	2	$	49
Amortization	(3)		(2)		—		(5)
Balance at December 31, 2022	28		15		2		45
Impairment	—		(7)		(2)		(9)
Amortization	(3)		(1)		—		(4)
Balance at December 31, 2023	$	25	$	7	$	—	$	32

1Timber licenses are included in timber and timberlands on the Consolidated Balance Sheets.

The Company’s goodwill and other intangible assets are evaluated for impairment annually during the fourth quarter or more frequently if events indicate the carrying value of a reporting unit may not be recoverable. During the year ended December 31, 2023, we recorded impairment charges of $9 million related to developed technology and trademarks related to Entekra, which is discussed further in “Note 7 - Business Exit Charges.”

Included in the balance of timber licenses are values allocated to Canadian forest licenses whose initial value of $91 million is amortized over the estimated useful life of 20 to 25 years. Amortization expense related to definite-lived intangible assets was $4 million for the year ended December 31, 2023 and $5 million for each of the years ended December 31, 2022 and 2021.

Amortization of the above-described intangible assets will be $3 million per year over the next five years.