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Consolidated Statement of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net sales $ 795.0 $ 603.0 $ 1,928.0 $ 1,773.0
Cost of sales (503.0) (529.0) (1,411.0) (1,540.0)
Gross Profit 292.0 75.0 517.0 233.0
Selling, general, and administrative expenses (52.0) (58.0) (157.0) (172.0)
Loss on impairment (1.0) (5.0) (16.0) (6.0)
Other Operating Charges And Credits, Net 3.0 (3.0) (5.0) (2.0)
Income from operations 242.0 8.0 339.0 53.0
Non-operating income (expense):        
Interest Expense (5.0) (6.0) (17.0) (14.0)
Investment income 0.0 2.0 3.0 9.0
Other non-operating items 0.0 (1.0) 4.0 8.0
Income before income taxes 237.0 3.0 329.0 56.0
Provision for income taxes (60.0) (3.0) (88.0) (13.0)
Net income 177.0 1.0 241.0 42.0
Net loss attributed to noncontrolling interest 0.0 1.0 2.0 3.0
Net income attributed to LP $ 177.0 $ 2.0 $ 243.0 $ 46.0
Basic net income per share of common stock:        
Net income per share - basic $ 1.58 $ 0.02 $ 2.16 $ 0.37
Diluted net income per share of common stock        
Net income per share - diluted $ 1.57 $ 0.02 $ 2.15 $ 0.36
Basic 112,000,000 121,000,000 112,000,000 125,000,000
Weighted average shares of stock outstanding - diluted 113,000,000 122,000,000 113,000,000 126,000,000