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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales $ 722 $ 728 $ 2,261 $ 1,923
Cost of sales (530) (514) (1,591) (1,489)
Gross Profit 193 214 669 434
Selling, general, and administrative expenses (75) (58) (215) (191)
Impairment of long-lived assets 0 (1) 0 (25)
Other operating credits and charges, net (1) 6 2 (20)
Income from operations 116 161 455 198
Non-operating income (expense):        
Interest Expense (4) (4) (12) (9)
Investment income 6 4 17 10
Other non-operating items (4) 0 2 (17)
Income before income taxes 113 160 462 183
Provision for income taxes (23) (44) (117) (66)
Equity in unconsolidated affiliate 0 1 12 3
Net income 90 118 358 119
Net income attributed to non-controlling interest 0 0 0 0
Net income attributed to LP $ 90 $ 118 $ 358 $ 119
Net income attributed to LP per share of common stock:        
Net income per share, basic (in dollars per share) $ 1.28 $ 1.63 $ 5.01 $ 1.65
Net income per share, diluted (in dollars per share) $ 1.28 $ 1.63 $ 5.00 $ 1.65
Average shares of common stock used to compute net income (loss) per share:        
Basic (in shares) 70 72 71 72
Diluted (in shares) 71 72 72 72