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Selected Segment Data
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Selected Segment Data SELECTED SEGMENT DATA
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 products are 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, business exit credits and charges, 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.
Information about our business segments is as follows (dollar amounts in millions):
 Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
NET SALES BY BUSINESS SEGMENT
Siding$420 $345 $1,196 $996 
OSB253 335 917 754 
LPSA47 45 140 153 
Other2 4 7 21 
Total sales$722 $728 $2,261 1,923 
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income$90 $118 $358 $119 
Add (deduct):
Net income attributed to non-controlling interest— — — — 
Income attributed to LP90 118 358 119 
Provision for income taxes23 44 117 66 
Depreciation and amortization31 30 93 87 
Stock-based compensation expense4 2 15 9 
Loss on impairment attributed to LP— 1 — 1 
Other operating credits and charges, net1 (7)2 16 
Business exit credits and charges— 1 (14)35 
Interest expense4 4 12 9 
Investment income(6)(4)(17)(10)
Pension settlement charges— — — 6 
Other non-operating items4 — (2)11 
Adjusted EBITDA$153 $190 $564 $349 
SEGMENT ADJUSTED EBITDA
Siding$123 $71 $318 $198 
OSB33 120 249 161 
LPSA9 6 29 31 
Other(3)— (6)(15)
Corporate(9)(7)(26)(26)
Adjusted EBITDA$153 $190 $564 $349