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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
We operate in three segments: Siding, OSB, and LPSA. Our business units have been aggregated into these three segments based upon the similarity of economic characteristics, customers, and distribution methods. Our results of operations are summarized below for each of these segments separately as well as for the “Other” category, which comprises other products that are not individually significant.
•Our Siding segment serves diverse end markets with a broad product offering, including LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions™ (collectively referred to as Siding Solutions). Our Siding Solutions products consist of a full line of engineered wood siding, trim, soffit, and fascia.
•Our OSB segment manufactures and distributes OSB structural panel products, including the innovative value-added OSB product portfolio known as LP® Structural Solutions (which includes LP TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP NovaCore® Thermal Insulated Sheathing, LP FlameBlock® Fire-Rated Sheathing, and LP TopNotch® 350 Durable Sub-Flooring). OSB is manufactured using wood strands arranged in layers and bonded with resins.
•Our LPSA segment manufactures and distributes LP OSB structural panel and Siding Solutions products in South America and certain export markets. This segment also sells and distributes a variety of companion products to support the region’s transition to wood frame construction. The LPSA segment carries out manufacturing operations in Chile and Brazil and operates sales offices in Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, and Peru.
We evaluate the performance of our business segments based on net sales and segment Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on net sales and segment Adjusted EBITDA for our business segments. Segment Adjusted EBITDA is defined as income attributed to LP before interest expense, provision for income taxes, depreciation and amortization, and excludes stock-based compensation expense, loss on impairment attributed to LP, product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, pension settlement charges, and other non-operating items.
During the year ended December 31, 2023, we updated our definitions of Adjusted EBITDA, Adjusted Income, and Adjusted Diluted EPS to exclude other business exit charges not classified as discontinued operations. Business exit charges consist of inventory and other asset impairment and exit charges related to the exit of other businesses not individually significant. We consider business exit charges to be outside the performance of our ongoing core business operations and believe that presenting Adjusted EBITDA, Adjusted Income, and Adjusted Diluted EPS excluding business exit charges provides increased transparency as to the operating costs of our current business performance. We did not revise prior years’ Adjusted EBITDA, Adjusted Income, and Adjusted Diluted EPS amounts because there were no significant costs similar in nature to these items.
Information about our product segments is as follows (dollars in millions):

Year Ended December 31,
2023
2022
2021
NET SALES BY BUSINESS SEGMENT
Siding$1,328 $1,469 $1,170 
OSB1,026 2,062 2,387 
LPSA205 241 265 
Other22 84 95 
Intersegment Sales— (2)(3)
Total sales$2,581 $3,854 $3,915 
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income$178 $1,083 $1,373 
Add (deduct):
Net loss attributed to non-controlling interest— 3 4 
Income from discontinued operations, net of income taxes— (198)(71)
Income attributed to LP from continuing operations178 888 1,306 
Provision for income taxes74 274 402 
Depreciation and amortization119 129 114 
Stock-based compensation expense13 19 16 
Loss on impairment attributed to LP6 1 5 
Other operating credits and charges, net18 (16)(1)
Business exit charges32 — — 
Pension settlement charges4 82 2 
Interest expense14 11 14 
Investment income(18)(14)(1)
Loss on early debt extinguishment— — 11 
Other non-operating items39 15 9 
Adjusted EBITDA$478 $1,389 $1,877 
SEGMENT ADJUSTED EBITDA
Siding$269 $339 $289 
OSB220 1,034 1,531 
LPSA42 77 113 
Other(17)(23)(20)
Corporate(36)(38)(36)
Adjusted EBITDA$478 $1,389 $1,877 

Year Ended December 31,
 
2023
2022
2021
Depreciation and Amortization
Siding$67 $46 $34 
OSB43 71 69 
LPSA7 8 8 
Other2 4 4 
Non-segment related— — — 
Total depreciation and amortization$119 $129 $114 
Capital Expenditures
Siding$212 $316 $177 
OSB59 53 47 
LPSA19 20 20 
Other — 1 2 
Non-segment related10 21 4 
Total capital expenditures$300 $412 $250 
Information concerning identifiable assets by segment is as follows (dollars in millions):
December 31,
2023
2022
Identifiable Assets
Siding$1,291 $1,045 
OSB526 491 
LPSA165 151 
Other 11 74 
Non-segment related444 589 
Total assets$2,437 $2,350 
Non-segment related assets include cash and cash equivalents, short-term and long-term investments, corporate assets, and other items.
Information concerning our geographic segments is as follows (dollars in millions):

Year Ended December 31,
2023
2022
2021
GEOGRAPHIC LOCATIONS
Total Sales—Point of origin
U.S.$2,265 $3,329 $3,354 
Canada610 827 613 
LPSA241 273 291 
Intercompany sales(535)(575)(344)
Total Sales$2,581 $3,854 $3,915 
Operating profit (loss)
U.S.$304 $1,084 $1,567 
Canada40 129 112 
LPSA35 70 106 
Other operating credits and charges, net and loss on impairments of assets(49)15 (5)
General corporate expense, loss on early debt extinguishment, other income (expense), interest, net and equity in unconsolidated affiliates(78)(139)(77)
Income before income taxes, including equity in unconsolidated affiliates252 1,159 1,704 
Provision for income taxes(74)(274)(402)
Income from continuing operations$178 $885 $1,302 
Loss attributed to noncontrolling interest— 3 4 
Income attributed to LP from continuing operations$178 $888 $1,306 
IDENTIFIABLE TANGIBLE LONG LIVED ASSETS
U.S.$996 $939 $671 
Canada472 356 359 
South America104 87 75 
Total assets$1,572 $1,382 $1,106