0001628280-22-003299 | 10-K | XBRL Viewer

Print Document View Excel Document

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net sales	$ 4,553.0	$ 2,788.0	$ 2,310.0
Operating costs and expenses:
Cost of sales	(2,482.0)	(1,920.0)	(2,007.0)
Gross Profit	2,070.0	867.0	303.0
Selling, general, and administrative expenses	(241.0)	(211.0)	(230.0)
Loss on impairments	(6.0)	(16.0)	(92.0)
Other operating credits and charges, net	1.0	(4.0)	(1.0)
Income from operations	1,824.0	636.0	(20.0)
Non-operating income (expense):
Interest (expense) income	14.0	19.0	19.0
Investment Income, Net	1.0	4.0	10.0
Other nonoperating items	(16.0)	0.0	6.0
Income before income taxes	1,795.0	621.0	(23.0)
Provision for income taxes	(426.0)	(125.0)	13.0
Equity in unconsolidated affiliate	4.0	1.0	0.0
Income from continuing operations	1,373.0	497.0	(10.0)
Net income	1,373.0	497.0	(10.0)
Net loss attributed to noncontrolling interest	4.0	2.0	5.0
Net income attributed to LP	1,377.0	499.0	(5.0)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$ 1,377.0	$ 499.0	$ (5.0)
Basic net income (loss) per share:
Net income per share - diluted	$ 14.19	$ 4.48	$ (0.04)
Diluted net earnings (loss) per share:
Net income per share - diluted	$ 14.09	$ 4.46	$ (0.04)
Weighted average number of shares outstanding - basic	97	111	123
Weighted average number of shares outstanding, diluted	98	112	123

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 358.0	$ 535.0
Receivables, net of allowance for doubtful accounts of $2 million at December 31, 2021, and 2020, respectively	191.0	184.0
Inventories	323.0	259.0
Prepaid expenses and other current assets	18.0	15.0
Total current assets	890.0	993.0
Timber and timberlands	84.0	52.0
Property, plant and equipment, net	1,069.0	918.0
Operating lease assets	52.0	40.0
Goodwill and other intangible assets	39.0	46.0
Investments in and advances to affiliates	21.0	11.0
Restricted cash	13.0	0.0
Other assets	25.0	24.0
Deferred tax asset	2.0	3.0
Total assets	2,194.0	2,086.0
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	338.0	268.0
Income taxes payable	13.0	18.0
Current portion of contingency reserves	1.0	1.0
Total current liabilities	351.0	286.0
Long-term debt, excluding current portion	346.0	348.0
Deferred income taxes	86.0	78.0
Non-current operating lease liabilities	44.0	32.0
Contingency reserves, excluding current portion	24.0	13.0
Other long-term liabilities	105.0	86.0
Liabilities	955.0	842.0
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$ 4.0	$ 10.0
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Shares Authorized	15,000,000
Common Stock, Par or Stated Value Per Share	$ 1
Common Stock, Shares, Outstanding	85,636,154
Common Stock, Shares, Issued	102,415,883	106,240,030
Common Stock, Shares Authorized	200,000,000	123,547,974
Stockholders' equity:
Preferred stock, $1 par value, 15,000,000 shares authorized, no shares issued	$ 0.0	$ 0.0
Common stock, $1 par value; 200,000,000 shares authorized; 102,415,883 shares issued and 85,636,154 shares issued and outstanding, respectively, as of December 31, 2021; 123,547,974 shares issued and 106,240,030 shares issued and outstanding, respectively, as of December 31, 2020	102.0	124.0
Additional paid-in capital	458.0	452.0
Retained earnings	$ 1,239.0	$ 1,206.0
Treasury Stock, Shares	16,779,729	17,307,944
Treasury stock, 16,779,729 shares and 17,307,944 shares, at cost as of December 31, 2021, and 2020, respectively	$ (390.0)	$ (397.0)
Accumulated comprehensive loss	(174.0)	(151.0)
Total stockholders' equity	1,235.0	1,234.0
Total liabilities and stockholders' equity	$ 2,194.0	$ 2,086.0

Consolidated Balance Sheets (Parenthetical) $ in Millions	Dec. 31, 2021 USD ($) $ / shares shares
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable \| $	$ 2
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 1
Common Stock, Shares Authorized	200,000,000
Common Stock, Shares, Issued	102,415,883
Common Stock, Shares, Outstanding	85,636,154
Preferred Stock, Par or Stated Value Per Share \| $ / shares	$ 1
Preferred Stock, Shares Authorized	15,000,000
Treasury Stock, Shares	16,779,729

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 1,373	$ 497	$ (10)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	(28)	(1)	(10)
Unrealized Gain on Securities	0	(3)	(1)
Other comprehensive income before reclassifications, net of taxes	(5)	(8)	(4)
Other	0	(2)	0
Other comprehensive income (loss), net of tax	(23)	2	(7)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	1,350	499	(17)
Net loss attributed to noncontrolling interest	4	2	5
Comprehensive income	$ 1,354	$ 501	$ (12)

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,373	$ 497	$ (10)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	119	111	123
Impairment of long-lived assets	6	16	92
Gain on Acquisition	0	0	(14)
Loss on early debt extinguishment	11	0	0
Deferred taxes	7	2	10
Other adjustments, net	13	18	19
Receivables	(14)	(53)	(21)
Inventories	(71)	(12)	3
Prepaid expenses	0	(4)	(1)
Accounts payable and accrued liabilities	46	30	(4)
Income taxes payable, net of receivables	(5)	54	(37)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	1,484	659	160
Cash Provided by (Used in) Operating Activities, Discontinued Operations	0	0	(1)
Net cash provided by operating activities	1,484	659	159
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(254)	(77)	(163)
Acquisition of businesses, net of cash acquired	0	0	30
Proceeds from Divestiture of Businesses	0	15	0
Cash Surrender Value of Life Insurance	0	10	0
Payments to Acquire Interest in Subsidiaries and Affiliates	0	0	(3)
Other investing activities, net	5	3	(1)
Net cash provided by (used in) investing activities	(247)	(49)	(137)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long term debt	(359)	(350)	(5)
Proceeds from Debt, Maturing in More than Three Months	350	350	0
Payment of cash dividends	(66)	(65)	(65)
Purchase of stock	(1,300)	(200)	(638)
Other financing activities, net	(13)	(7)	(9)
Net cash used in financing activities	(1,388)	(272)	(717)
Effect of exchange rate on cash, cash equivalents, and restricted cash	(14)	2	(2)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(164)	340	(697)
Cash, cash equivalents, and restricted cash at the beginning of the year	535	195	892
Cash, cash equivalents, and restricted cash at the end of the year	371	535	195
Supplemental Cash Flow Information [Abstract]
Cash paid for income taxes, net	(421)	(70)	(20)
Tax authority deposit applied to income taxes	0	(32)	0
Cash paid for interest, net	(16)	(18)	(13)
Unpaid capital expenditures	$ 46	$ 16	$ 15

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Comprehensive Loss [Member]
Balance, Beginning at Dec. 31, 2018	$ 1,700.0	$ 153.0	$ (378.0)	$ 458.0	$ 1,613.0	$ (146.0)
Balance, Beginning, Shares at Dec. 31, 2018		153,000,000	16,000,000
Net income	(5.0)				(5.0)
Payment of cash dividends	(65.0)				(65.0)
Issuance of shares for employee stock plans and stock-based compensation			0
Issuance of shares for employee stock plans and stock-based compensation, amount	(3.0)		$ (10.0)	(13.0)
Common stock, Shares acquired		(23,000,000)
Common stock, Value, Shares acquired		$ (23.0)
Treasury Stock, Shares, Acquired			2,000,000
Treasury Stock, Value, Acquired, Cost Method	(638.0)		$ (38.0)
Stock Repurchased and Retired During Period, Value					(577.0)
Compensation expense associated with stock awards	9.0			9.0
Other comprehensive loss	(7.0)					(7.0)
Balance, Ending, Shares at Dec. 31, 2019		130,000,000	18,000,000
Balance, Ending at Dec. 31, 2019	$ 991.0	$ 130.0	$ (406.0)	454.0	966.0	(153.0)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.135
Net income	$ 499.0				499.0
Payment of cash dividends	(65.0)				(65.0)
Issuance of shares for employee stock plans and stock-based compensation			(1,000,000)
Issuance of shares for employee stock plans and stock-based compensation, amount	(3.0)		$ (9.0)	(12.0)
Common stock, Shares acquired		(6,000,000)
Common stock, Value, Shares acquired		$ (6.0)
Treasury Stock, Shares, Acquired			0
Treasury Stock, Value, Acquired, Cost Method	(200.0)		$ 0.0
Stock Repurchased and Retired During Period, Value					(194.0)
Compensation expense associated with stock awards	12.0			12.0
Noncontrolling Interest, Change in Redemption Value	2.0			2.0
Other comprehensive loss	2.0					2.0
Balance, Ending, Shares at Dec. 31, 2020		124,000,000	17,000,000
Balance, Ending at Dec. 31, 2020	$ 1,234.0	$ 124.0	$ (397.0)	452.0	1,206.0	(151.0)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.145
Treasury Stock, Value	$ 397.0
Net income	1,377.0
Payment of cash dividends	(66.0)				(66.0)
Issuance of shares for employee stock plans and stock-based compensation			0
Issuance of shares for employee stock plans and stock-based compensation, amount	(5.0)		$ (7.0)	(12.0)
Common stock, Shares acquired		(21,000,000)
Common stock, Value, Shares acquired		$ (21.0)
Treasury Stock, Shares, Acquired			0
Treasury Stock, Value, Acquired, Cost Method	(1,300.0)		$ 0.0
Stock Repurchased and Retired During Period, Value					(1,279.0)
Compensation expense associated with stock awards	17.0			17.0
Noncontrolling Interest, Change in Redemption Value	1.0
Other comprehensive loss	$ (23.0)					(23.0)
Balance, Ending, Shares at Dec. 31, 2021	85,636,154	102,000,000	17,000,000
Balance, Ending at Dec. 31, 2021	$ 1,235.0	$ 102.0		$ 458.0	$ 1,239.0	$ (174.0)
Treasury Stock, Value	$ 390.0		$ 390.0

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Significant Accounting Policies [Text Block]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

Louisiana-Pacific Corporation and our subsidiaries are a leading provider of high-performance building solutions that meet the demands of builders, remodelers, and homeowners worldwide. Serving the new home construction, repair and remodeling, and outdoor structures markets, we have leveraged our expertise to become an industry leader known for innovation, quality, and reliability. The Company operates 25 plants across the U.S., Canada, Chile, and Brazil, through foreign subsidiaries, and operate facilities through joint ventures. The principal customers for our building solutions are retailers, wholesalers, and homebuilding and industrial businesses, in North America and South America, with limited sales to Asia, Australia, and Europe. References to "LP," the "Company," "we," "our," and "us" refer to Louisiana-Pacific Corporation and its consolidated subsidiaries as a whole.

See Note 19 below for further information regarding our products and segments.

Basis of Presentation

The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.

The Consolidated Financial Statements include the accounts of LP and our controlled subsidiaries. All intercompany transactions, profits, and balances have been eliminated. All dollar amounts are in millions except per share.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and short-term investments of three months or less when purchased. These investments are stated at cost, which approximates market value.

Receivables

Receivables consisted of the following:


	December 31,
	2021		2020
Trade receivables	$	172	$	161
Income tax receivable	1		2
Other receivables	20		23
Allowance for doubtful accounts	(2)		(2)
	$	191	$	184

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other receivables at December 31, 2021 and 2020, primarily consisted of sales tax receivables, vendor rebates, a receivable associated with an affiliate, and other miscellaneous receivables.

Investments

Our long-term investments are classified as available-for-sale and are reported at estimated fair value. Unrealized gains and losses, net of tax, on these investments are reported as a component of accumulated comprehensive loss in stockholders’ equity until realized. Impairment losses are charged to income for other-than-temporary declines in fair value. Realized gains and losses (including impairments) are recorded as investment income. For purposes of computing realized gains and losses, the cost is identified on a specific identification basis.

Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We are required to classify these financial assets and liabilities into two groups: (1) recurring, measured on a periodic basis, and (2) non-recurring, measured on an as-needed basis.

There are three levels of inputs that may be used to measure fair value:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable or can be corroborated by observable market data.

Level 3 Valuations based on models where significant inputs are not observable. Unobservable inputs are used when little or no market data is available and reflect the Company’s own assumptions about the assumptions market participants would use.

The Company's financial instruments consist of cash and cash equivalents, short-term receivables, trade payables, debt instruments, and trading securities. Carrying amounts reported on the balance sheet for cash and cash equivalents, receivables, and accounts payable approximate fair value due to the short-term maturity of these instruments. See discussion on fair market values for long-term debt included within Note 11 below.

Trading securities consist of rabbi trust financial assets, which are recorded in other assets in our Consolidated Balance Sheets. The rabbi trust holds assets attributable to the elections of certain management employees to defer the receipt of a portion of their compensation. The assets of the rabbi trust are invested in mutual funds and are reported at fair value based on active market quotations, which represent Level 1 inputs.

Inventories

Inventories are valued at the lower of cost or net realizable value. Inventory costs include materials, labor, and operating overhead. The FIFO (first-in, first-out) or average cost methods are used to value our inventories as of December 31, 2021. Included in the inventory balance is a lower of cost or market adjustment of $7 million as of December 31, 2021, and $12 million as of December 31, 2020. Inventory consisted of the following:


	December 31,
	2021		2020
Logs	$	59	$	49
Other raw materials	59		36
Semi-finished inventory	38		28
Finished products	168		146
Total	$	323	$	259

Timber and Timberlands

Timber and timberlands are comprised of timber deeds and allocations of the purchase price to Canadian timber harvesting licenses. Timber deeds are transactions in which we purchase timber but not the underlying land. The cost of timber deeds is capitalized in timber and timberlands and charged to the cost of timber harvested as the volume is removed. Timber that has been severed but has not yet been delivered to a facility is included in timber and timberlands. As of December 31, 2021, and 2020, we had timber and timberlands of $53 million and $18 million, respectively.

Timber licenses have a life of twenty to twenty-five years. These licenses are amortized on a straight-line basis over the life of the facilities. As of December 31, 2021, and 2020, we had timber licenses of $31 million and $34 million, respectively. Certain Canadian timber harvesting licenses also include future requirements for reforestation. The fair value of the future estimated reforestation obligation is accrued and recognized in cost of sales based on the volume of timber harvested; fair value is determined by discounting the estimated future cash flows using a credit adjusted risk-free rate. Subsequent changes to the fair value resulting from the passage of time and revisions to fair value calculations are recognized in earnings as they occur.

Property, Plant, and Equipment

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following:


	December 31,
	2021		2020
Land, land improvements, and logging roads, net of road amortization	$	182	$	172
Buildings	352		356
Machinery and equipment	2,050		1,971
Construction in progress	202		63
	2,786		2,562
Accumulated depreciation	(1,717)		(1,644)
Property, plant, and equipment, net	$	1,069	$	918

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, which typically range from 10 to 20 years for buildings and land improvements, 3 to 15 years for equipment, and the shorter of the lease term or estimated useful lives for leasehold improvements.

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below:


	Year Ended December 31,
	2021		2020		2019
Cost of sales	$	111	$	103	$	115
Selling, general and administrative expenses	3		3		3
Total depreciation and amortization	$	114	$	106	$	118

Logging road construction costs are capitalized and included in land and land improvements. These costs are amortized as the timber volume adjacent to the road system is harvested.

Long-lived assets to be held and used (primarily property, plant, and equipment and timber and timberlands) are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When impairment is indicated, the book values of the assets are written down to their estimated fair value as calculated by the expected discounted cash flow or estimated net sales price. See Note 14 below for a discussion of charges related to impairments of property, plant, and equipment.

Long-lived assets that are held for sale are written down to the estimated sales proceeds less cost to sell unless the estimated net proceeds exceed the carrying value.

Goodwill and Intangible Assets

Goodwill and indefinite-lived intangible assets are assessed annually for impairment during the fourth quarter or earlier upon the occurrence of certain events or substantive changes in circumstances. Impairment is evaluated by applying a fair-value based test. Impairment losses would be recognized whenever the implied fair value of goodwill is less than its carrying value.

During each of the years ended December 31, 2021 and 2020, we recognized non-cash impairment charges of $5 million, associated with goodwill from the purchase of our off-site construction operation, Entekra. Our 2019 annual impairment assessment did not result in impairments of our goodwill or intangible assets. See Note 5 below for further discussion of goodwill and intangible assets.

Investments in Affiliates

We account for investments in affiliates when we do not have a controlling financial interest using the equity method under which LP’s share of earnings and losses of the affiliate is reflected in earnings, and dividends are credited against the investment in affiliate when declared.

Restricted Cash

Our restricted cash accounts generally secure outstanding letters of credit. The restricted cash balance at December 31, 2021 and 2020, was $13 million and $0 million, respectively.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities were as follows:


	December 31,
	2021		2020
Trade accounts payable	$	191	$	125
Salaries and wages payable	71		62
Accrued rebates	45		44
Taxes other than income taxes	12		15
Current portion of operating lease liabilities	7		8
Current portion of contingency reserve	1		1
Other accrued liabilities	11		13
Total Accounts payable and accrued liabilities	$	338	$	268

Other accrued liabilities at December 31, 2021, and 2020, primarily consisted of reforestation liabilities, accrued rent, accrued interest, worker compensation liabilities, warranty reserves, and other items. Additionally, included in trade accounts payable is $46 million and $16 million related to capital expenditures that had not yet been paid as of December 31, 2021 and 2020, respectively.

Other Long-Term Liabilities

Other long-term liabilities were as follows:


	December 31,
	2021		2020
Pension benefit obligation	$	12	$	17
Asset retirement obligations	8		10
Uncertain tax positions	9		9
Post-retirement obligations	9		9
Warranty reserves	6		6
Other	61		35
Total Other long-term liabilities	$	105	$	86

Other long-term liabilities at December 31, 2021 and 2020, consisted primarily of stumpage liability for harvested timber, reforestation liabilities, and other items.

Asset Retirement Obligations

We record the fair value of the legal and conditional obligations to retire and remove long-lived assets in the period in which the obligation is incurred. These obligations primarily consist of monitoring costs on closed landfills, timber reforestation obligations associated with our timber licenses in Canada, and site restoration costs. When the related liability is initially recorded, we capitalize the cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its settlement value, and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, we recognize a gain or loss for any difference between the settlement amount and the liability recorded. The activity in our asset retirement obligation liability for 2021 and 2020 is summarized in the following table.


	Year Ended December 31,
	2021		2020
Beginning balance	$	10	$	11
Accretion expense	1		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(2)		(1)
Payments made	—		(1)
Ending balance	$	8	$	10

Income Taxes

We account for income taxes under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our Consolidated Financial Statements or tax returns. In estimating future tax consequences, we generally consider all expected future events other than the enactment of changes in tax laws or rates. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized as income or expense in the period that includes the enactment date. Additionally, deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized.

We recognize the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

We classify interest related to income tax liabilities or uncertain tax positions as interest expense or interest income and, if applicable, penalties are recognized as a component of income tax expense.

We are subject to global intangible low-taxed income, an incremental tax on foreign income. We have made an accounting election to record this tax in the period the tax arises.

Redeemable Noncontrolling Interest

Redeemable noncontrolling interest in subsidiaries that is redeemable outside of our control is classified as mezzanine equity and measured at the greater of estimated redemption value at the end of each reporting period or the historical cost basis of the noncontrolling interest adjusted for cumulative earnings allocations. Net income attributed to noncontrolling interest is recorded in the Consolidated Statements of Income. Any adjustments to the redemption value of redeemable noncontrolling interest are recognized in either net income or through accumulated paid-in capital, depending on the nature of the underlying security (preferred or common units). See Note 8 below for a further discussion of redeemable noncontrolling interest.

Stock-Based Compensation

We have stock award plans covering certain key employees and directors, which provide for awards of restricted stock units, performance stock units, stock-settled stock appreciation rights (SSARS), and stock options. In addition, we offer an Employee Stock Purchase Plan (ESPP) to employees.

The fair value of our restricted stock and restricted stock units is the closing stock price of LP’s common stock the day preceding the grant date. The fair value of our performance stock units is estimated using the Monte Carlo simulation pricing model. The key assumptions used in this model include expected volatility, risk-free rate, and average and grant date stock prices. The estimate of expected volatility for performance units is based upon historical stock price volatility and the length of the performance period. The risk-free interest rate is based on zero-coupon U.S. Treasury bonds. The beginning average stock price equals the average closing value stock price over the defined period of trading days with the assumption that dividends distributed during the period were reinvested.

Foreign Currency Translation

The functional currency for our Canadian subsidiaries is the U.S. dollar. The books and records for these subsidiaries are maintained in the Canadian dollar. The financial statements of these foreign subsidiaries are remeasured into U.S. dollars using the historical exchange rate for property, plant, and equipment, timber and timberlands (related depreciation and amortization on both property, plant, and equipment and timber and timberlands), goodwill, and certain other non-monetary assets. We use the exchange rate at the balance sheet date for the remaining assets and liabilities, including deferred taxes. A weighted average exchange rate is used for each period for revenues and expenses. These transaction gains or losses are recorded in other non-operating items on the Consolidated Statements of Income.

The functional currencies of our Chilean, Brazilian, Argentinean, Columbian, and Peruvian subsidiaries are their respective local currencies, and therefore, their books and records are maintained in local currency. Translation adjustments, which are based upon the exchange rate at the balance sheet date for assets and liabilities and the weighted average rate for the income statement, are recorded in accumulated comprehensive loss in stockholders’ equity on the Consolidated Balance Sheets.

Advertising costs

Advertising costs of $24 million, $20 million, and $28 million in 2021, 2020, and 2019, respectively, are principally expensed as incurred and included as part of selling, general, and administrative expenses within our Consolidated Statements of Income. Advertising costs include product displays, media production costs, agency fees, sponsorships, and cooperating advertising.

Other Operating Credits and Charges, Net

We classify significant amounts unrelated to ongoing core operating activities as other operating credits and charges,

net in the Consolidated Statements of Income. Such items include, but are not limited to, restructuring charges (including severance charges), charges to establish and maintain litigation or environmental reserves, product reserves, gains or losses from settlements with governmental or other organizations, and gains (loss) on the sale or disposal of long-lived assets. Due to the nature of these items, amounts in the income statement can fluctuate from year to year. The determination of which items are considered significant and unrelated to core operations is based upon management’s judgment.

Retirement Benefits

We are required to use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the values of the obligations and plan assets are not recognized in earnings as they occur but, instead, systematically and gradually over subsequent periods. See Note 17 of the Notes to the Consolidated Financial Statements for further information.

Comprehensive Income

Comprehensive income consists of net income and other gains and losses affecting stockholders’ equity that are excluded from net income, including foreign currency translation adjustments, costs associated with pension or other post-retirement benefits that have not been recognized as components of net periodic benefit costs, and net unrealized gains or losses on securities and is presented in the accompanying Consolidated Statements of Comprehensive Income.

Present and Prospective Accounting Pronouncements (Notes)	12 Months Ended
	Dec. 31, 2021
Present and Prospective Accounting [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	2. PRESENT AND PROSPECTIVE ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Policies In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). This ASU simplifies the accounting for income taxes by, among other things, eliminating certain existing exceptions related to the general approach in ASC 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for transactions outside of business combinations that result in a step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 effective as of January 1, 2021. There was no impact on our Consolidated Financial Statements upon adoption.

Revenue (Notes)

12 Months Ended

Dec. 31, 2021

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer [Text Block]

3. REVENUE

The following table presents our reportable segment revenues, disaggregated by revenue source. We disaggregate revenue from contracts with customers into major product lines. We have determined that disaggregating revenue into these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

As noted in the segment reporting information in Note 19 below, our reportable segments are: Siding, OSB, EWP, and South America.


Year Ended December 31, 2021
By Product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,158	$	—	$	—	$	33	$	—	$	—	$	1,191
OSB - Structural Solutions	—		1,152		—		227		—		—		1,379
I-Joist	—		—		309		—		—		—		309
LVL	—		—		194		—		—		—		194
LSL	—		—		47		—		—		(3)		44
	1,158		1,152		550		260		—		(3)		3,117
Commodity
OSB - Commodity	—		1,221		—		—		—		—		1,221
Plywood	—		—		48		—		—		—		48
	—		1,221		48		—		—		—		1,269
Other
Other products	12		14		39		5		95		—		166
	$	1,170	$	2,387	$	638	$	265	$	95	$	(3)	$	4,553


Year Ended December 31, 2020
By Product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	915	$	—	$	—	$	20	$	—	$	—	$	935
OSB - Structural Solutions	—		580		—		146		—		—		726
I-Joist	—		—		148		—		—		—		148
LVL	—		—		141		—		—		—		141
LSL	—		—		45		—		—		—		45
	915		580		334		166		—		—		1,995
Commodity
OSB - Commodity	—		632		—		—		—		(1)		631
Plywood	—		—		25		—		—		—		25
	—		632		25		—		—		(1)		656
Other
Other products	44		9		30		3		52		—		137
	$	959	$	1,220	$	389	$	169	$	52	$	(1)	$	2,788


Year Ended December 31, 2019
By Product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	797	$	—	$	—	$	19	$	—	$	—	$	816
OSB - Structural Solutions	1		381		8		138		—		—		528
I-Joist	—		—		137		—		—		—		137
LVL	—		—		142		—		—		—		141
LSL	—		—		50		—		—		—		50
	798		381		337		156		—		—		1,672
Commodity
OSB - Commodity	9		387		3		—		—		(5)		394
Plywood	—		—		25		—		—		—		25
	9		387		28		—		—		(5)		419
Other
Other products	110		9		31		3		66		—		218
	$	917	$	777	$	396	$	159	$	66	$	(5)	$	2,310

Revenue is recognized when obligations under the terms of a contract (i.e., purchase orders) with our customers are satisfied; generally, this occurs with the transfer of control of our products at a point in time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The shipping cost incurred by us to deliver products to our customers is recorded in cost of sales. The expected costs associated with our warranties continue to be recognized as an expense when the products are sold.

During 2021, 2020, and 2019, our top ten customers accounted for approximately 43%, 46%, and 42% of our sales, respectively, in the aggregate. No individual customer exceeded 10% of our sales in 2021, 2020, or 2019.

Our businesses routinely incur customer program costs to obtain favorable product placement, promote sales of products, and maintain competitive pricing. Customer program costs and incentives, including rebates and promotion and volume allowances, are accounted for as deductions from net sales at the time the program is initiated. These reductions from revenue are recorded at the time of sale or the implementation of the program based on management’s best estimates. Estimates are based on historical and projected experience for each type of program or customer. Volume allowances are accrued based on management’s estimation of customer volume achievement and other factors incorporated into customer agreements, such as new product purchases, store sell-through, and merchandising support. Management adjusts accruals when circumstances indicate (typically as a result of a change in volume expectations). As of December 31, 2021, and 2020, we accrued $45 million and $44 million, respectively, as customer rebates recorded in accounts payable and accrued liabilities on our Consolidated Balance Sheets.

We ship some of our products to customers' distribution centers on a consignment basis. We retain title to our products stored at the distribution centers. As our products are removed from the distribution centers by retailers and shipped to retailers’ stores, title passes from us to the retailers. At that time, we invoice the retailers and recognize revenue for these consignment transactions. We do not offer a right of return for products shipped to the retailers’ stores from the distribution centers. The amount of consignment inventory as of December 31, 2021 and 2020, was $2 million and $7 million, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2021

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Earnings Per Share [Text Block]

Basic earnings per share are based on the weighted average number of shares of common stock outstanding. Diluted earnings per share are based upon the weighted average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents (stock options, SSARs, restricted stock or units, and performance stock units) be excluded from the calculation of diluted earnings per share for the periods in which losses from continuing operations are reported because the effect is anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share:


	Year Ended December 31,
Share amounts in millions	2021	2020	2019






Denominator for basic earnings per share:
Weighted average common shares outstanding	97	111	123
Effect of dilutive securities:
Dilutive effect of employee stock plans	1	1	—
Dilutive potential common shares	98	112	123
Denominator for diluted earnings per share:
Adjusted weighted average shares	98	112	123

For the year ended December 31, 2019, approximately 1 million of the outstanding restricted stock and shares of common stock issuable upon exercise of outstanding stock option awards have been excluded from the calculation of diluted earnings per share because the net loss for the year ended December 31, 2019, causes such securities to be anti-dilutive

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020, are provided in the following table:


	Siding		OSB		Other		Total
Balance at December 31, 2019	$	4	$	16	$	10	$	30

Impairment charges	—		—		(5)		(5)
Balance at December 31, 2020	4		16		5		25

Impairment charges	—		—		(5)		(5)
Balance at December 31, 2021	$	4	$	16	$	—	$	19

Changes in other intangible assets for the years ended December 31, 2021 and 2020, are provided in the following table:


	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2019	$	38	$	20	$	3	$	61

Amortization	(4)		(1)		—		(5)
Balance at December 31, 2020	34		19		3		56


Amortization	(3)		(2)		—		(6)
Balance at December 31, 2021	$	31	$	17	$	2	$	50

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

The Company’s goodwill is 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. The Company’s annual goodwill impairment test performed considered the recent financial performance of the Company, including our off-site construction operation, Entekra. The 2021 impairment test for Entekra indicated carrying value exceeded the estimated fair value. The difference was recorded as a non-cash loss on impairment of $5 million for the year ended December 31, 2021, within loss on impairments in the Consolidated Statements of Income.

During 2020, we performed an interim evaluation of impairment on the goodwill associated with Entekra and recorded a non-cash loss on impairment of $5 million for the year ended December 31, 2020, within loss on impairments in the Consolidated Statements of Income. The annual impairment test for all other reporting units in 2021, 2020, and 2019 indicated that the estimated fair value exceeded carrying value, and therefore no impairment was recorded.

In performing the goodwill impairment test, we used an income approach to estimate the fair value of our reporting units. Determining fair value requires substantial judgment and the use of significant unobservable inputs, which are categorized as Level 3 fair value measurements. We applied a discounted cash flow model in which cash flows are projected using internal forecasts over future periods, plus a terminal value, and discounted to present value using a risk-adjusted rate of return. The cash flow forecasts included estimates of growth rates based on our current views of the long-term outlook of the reporting unit and may materially differ from actual results. The discount rate assumptions were based on an assessment of the risk inherent in the future cash flows of each reporting unit using industry, peer group, and company-specific information.

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 twenty to twenty-five years. Amortization expense related to definite-lived intangible assets was $5 million for each of the years ended December 31, 2021, 2020, and 2019.

Amortization of the above intangible assets will be $5 million per year over the next five years.

Investments in and Advances to Affiliates	12 Months Ended
Investments in and Advances to Affiliates	Dec. 31, 2021
Related Party Transactions [Abstract]
Transactions with Affiliates	INVESTMENTS IN AND ADVANCES TO AFFILIATES At December 31, 2021, and 2020, we had an investment in a joint venture with Resolute Forest Products, Inc. to operate jointly owned I-Joist facilities in Quebec, Canada (Resolute-LP). Each partner owns 50% of the venture. We sell OSB web stock and LVL flanges to the Resolute-LP joint venture, both of which are used as raw materials for I-Joist manufacture. We purchase I-Joists manufactured by Resolute-LP for subsequent resale and distribution. We eliminate profits on these sales and purchases, to the extent the inventory has not been sold through to third parties, based on its 50% interest. For the years ended December 31, 2021, 2020, and 2019, we sold $58 million, $21 million, and $12 million, respectively, of OSB and LVL to Resolute-LP and purchased $170 million, $73 million, and $70 million, respectively, of I-Joists from Resolute-LP. Included in our Consolidated Balance Sheets at December 31, 2021 and 2020, are $5 million and $7 million, respectively, in accounts receivable associated with Resolute-LP. For the years ended December 31, 2021, and 2020, we received $5 million and $4 million, respectively, in dividends from Resolute-LP. We classified the receipt of these cash dividends as cash flows from operations. Our cumulative equity in earnings from Resolute-LP exceeds the cumulative distributions received; therefore, the dividends were deemed to be a return on our investment and not a return of our investment. We are the exclusive distributor of the I-Joists produced and sold by the joint venture, and it is considered an integral part of our operations. We classify the income from the joint venture as a reduction in cost of sales. LP recorded income from affiliates of $11 million in 2021, $4 million in 2020, and $11 million in 2019. On February 14, 2022, we entered an agreement to sell our 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc. for $50 million, subject to customary adjustments. The completion of the sale, subject to regulatory approvals and certain closing conditions, is expected to close in the first half of 2022.

Acquisitions (Notes)	12 Months Ended
Acquisitions (Notes)	Dec. 31, 2021
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	. DIVESTITURES During the second quarter of 2020, we sold LP’s East River facility located in Nova Scotia, Canada (the East River facility), as well as the assets and brand rights for CanExel®, the fiber-based prefinished siding product manufactured at that facility, for a total purchase price of $17 million, $15 million of which was received in cash in connection with the closing and $2 million of which is payable under a promissory note due in three equal annual installments beginning in June 2021. The current portion is included in prepaid expenses and other current assets and the long-term portion is included in other assets within the Consolidated Balance Sheets. We recognized a gain on sale of $2 million for the year ended December 31, 2020, within other operating credits and charges, net in the Consolidated Statements of Income. The total net carrying value of assets related to the East River facility and CanExel® at the date of sale was $14 million, consisting primarily of approximately $10 million and $5 million of inventories and property, plant, and equipment, net, respectively. The Consolidated Statements of Income for the year ended December 31, 2020, include net sales of $14 million related to the divested East River facility and assets and brand rights for CanExel®. The Consolidated Statements of Income for the year ended December 31, 2019, include net sales of $46 million related to the East River facility.

Noncontrolling Interests (Notes)

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest [Line Items]

Redeemable Noncontrolling Interest [Table Text Block]

8. REDEEMABLE NONCONTROLLING INTEREST

Redeemable noncontrolling interest is interest in subsidiaries that is redeemable outside of our control, either for cash or other assets. These interests are classified as mezzanine equity and measured at the greater of estimated redemption value or carrying value at the end of each reporting period. Net loss attributed to noncontrolling interest is recorded in the Consolidated Statements of Income. Any adjustments to the redemption value of redeemable noncontrolling interest are recognized in either net income or through accumulated paid-in capital, depending on the nature of the underlying security (preferred or common units).

The components of redeemable noncontrolling interests are as follows:


	December 31,
	2021		2020
Beginning balance	$	10	$	10

Adjustment to redemption value (through accumulated paid-in capital)	(1)		2
Net loss attributable to noncontrolling interest	(3)		(1)
Impairment charge attributed to noncontrolling interest	(1)		(1)
Ending balance	$	4	$	10

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Income Tax Provision

The components of income from continuing operations before income taxes, including equity in unconsolidated affiliates, were as follows:


	Year Ended December 31,
	2021		2020		2019
Domestic	$	1,632	$	528	$	18
Foreign	167		93		(41)
Total	$	1,799	$	621	$	(23)

The following presents the components of our income tax provision (benefit) from continuing operations.


	Year Ended December 31,
	2021		2020		2019
Current tax provision (benefit):
U.S. federal	$	314	$	79	$	(5)
State and local	62		17		(1)
Foreign	44		27		(17)
Net current tax provision (benefit)	420		123		(23)
Deferred tax provision (benefit):
U.S. federal	2		(3)		7
State and local	—		8		(1)
Foreign	4		(2)		5
Net valuation allowance increase (decrease)	—		(1)		(1)
Net deferred tax provision	6		2		10
Total income tax provision (benefit)	$	426	$	125	$	(13)

We paid income taxes, net of refunds, of $421 million, $70 million, and $20 million during 2021, 2020, and 2019, respectively. Included in our Consolidated Balance Sheets at December 31, 2021 and 2020, is a net income tax payable of $12 million, and $15 million, respectively.

Deferred Taxes

The tax effects of significant temporary differences creating deferred tax assets and liabilities were as follows:


	December 31,
	2021		2020
Accrued liabilities	$	20	$	23
Pension and post-retirement benefits	4		5
Stock-based compensation	4		4
Benefit relating to capital loss, NOL carryforwards, and credit carryforwards	7		9
Inventories	8		7
Operating lease liabilities	8		5
Other	9		12
Total deferred tax assets	60		65
Valuation allowance	(10)		(10)
Total deferred tax asset after valuation allowance	50		55
Property, plant, and equipment	(112)		(109)
Timber and timberlands	(8)		(9)
Operating lease assets	(8)		(5)
Investment in Entekra	(6)		(7)
Total deferred tax liabilities	(134)		(130)
Net deferred tax liabilities	(84)		(75)
Balance sheet classification
Long-term deferred tax asset	2		3
Long-term deferred tax liability	(86)		(78)
	$	(84)	$	(75)

The benefit relating to capital loss and credit carryforwards included in the above table at December 31, 2021, consisted of:


	Benefit Amount		Valuation Allowance		Expiration Beginning in
State credit carryforwards	$	1	$	—	2034
Canadian capital loss carryforwards	6		(6)		No expiration
	$	7	$	(6)

We periodically review the need for valuation allowances against deferred tax assets and recognize these deferred tax assets to the extent that their realization is more likely than not. As part of our review, we consider all positive and negative evidence, including earnings history, the future reversal of deferred tax liabilities, and the relevant expirations of carryforwards. We believe that the valuation allowances provided are appropriate. If future years’ earnings differ from the estimates used to establish these valuation allowances, or other objective positive or negative evidence arises, we may be required to record an adjustment to the valuation allowance resulting in an impact on tax provision (benefit) for that period.

As of December 31, 2021, certain of our foreign subsidiaries had accumulated undistributed earnings of approximately $184 million. These earnings have been, and are intended to be, indefinitely reinvested in our foreign operations, and we expect future U.S. cash generation to be sufficient to meet our future U.S. cash needs. As a result, no deferred taxes have been recorded with respect to the difference between the financial accounting value and the tax basis in these subsidiaries.

Since most of these earnings have previously been subject to the one-time U.S. transition tax on foreign earnings required by the 2017 Tax Cuts and Jobs Act, they are eligible to be repatriated without additional U.S. tax. Any additional taxes due with respect to such earnings, if repatriated to the U.S., would generally be limited to foreign withholding taxes, net of U.S. foreign tax credits, which we estimate could be up to $23 million.

Tax Rate Reconciliation

The following table summarizes the differences between the U.S. federal statutory tax rates and the total effective tax rates from continuing operations:


	Year Ended December 31,
	2021			2020			2019
Income from continuing operations before income taxes, including equity in unconsolidated affiliates	$	1,799		$	621		$	(23)

U.S. federal tax rate	21		%	21		%	21		%
State and local income taxes net of federal benefit	3			3			11
Effect of foreign tax rates	1			1			9
Effect of foreign exchange on functional currencies	—			—			(4)
Tax credits	—			(1)			8
Noncontrolling interest	—			—			(4)
Stock-based compensation	—			—			5

Capital gain tax rate differential	—			—			5
Inflationary adjustment	—			—			5
Valuation allowance	—			—			8
Uncertain tax positions	—			(4)			(7)

Other, net	(1)			—			1
Effective tax rate (%)	24		%	20		%	58		%

We are subject to U.S. federal income tax as well as income taxes of multiple state jurisdictions. Our foreign subsidiaries are subject to income tax in Canada, Chile, Brazil, Peru, Colombia, Argentina, and Paraguay.

We generally remain subject to U.S. federal and state examinations for tax years 2018 and subsequent. In addition to the U.S., we have tax years that remain open and subject to examination by tax authorities in the following major tax jurisdictions: Brazil and Chile for tax years 2016 and subsequent, and Canada for tax years 2017 and subsequent. Our tax returns are currently under examination by tax authorities in Canada for years 2017 and 2018, and in Chile for years 2016 through 2018.

Uncertain Tax Positions

In accordance with the accounting for uncertain tax positions, the following is a tabular reconciliation of the total amount of unrecognized tax benefits at the beginning and end of the years presented:


	December 31,
	2021		2020		2019
Beginning balance	$	11	$	38	$	41
Increases:
Tax positions taken in current year	1		1		1
Tax positions taken in prior years	—		1		—
Decreases:


Settlements during the year	—		—		(4)
Lapse of statute in current year	(3)		(29)		—
Ending balance	$	9	$	11	$	38

Included in the above balances at December 31, 2021, is $9 million of tax benefits that, if recognized, would affect our effective tax rate. We accrued and paid no interest during 2021and 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Leases (Notes)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Leases

10. LEASES

Our lease portfolio consists primarily of real estate, mobile equipment at our manufacturing facilities, rail cars to transport our products, and a fleet of vehicles. We determine if an arrangement is a lease at contract inception. A lease exists when a contract conveys to the customer the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration.

As most of our leases do not provide an implicit rate, we used our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease term for all of our leases includes the non-cancellable period of the lease plus any additional periods covered by either an option to extend (or not to terminate) the lease that we are reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor.

As of December 31, 2021, our weighted average discount rate was four percent, and our weighted average remaining lease term was twelve years for operating leases.

Our operating leases are included in our Consolidated Balance Sheets and Consolidated Statement of Incomes as follows:


	Classification	December 31,
Consolidated Balance Sheet		2021		2020
Assets:
Operating lease assets	Operating lease assets	$	52	$	40

Total lease assets		$	52	$	40
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	7	$	8

Non-current
Operating	Non-current operating lease liabilities	44		32

Total lease liabilities		$	51	$	40

For the years ended December 31, 2021, and 2020, we incurred operating lease expenses of $11 million and $12 million, respectively, included within costs of sales and selling, general and administrative expenses. We made cash payments of $8 million and $9 million during the years ended December 31, 2021, and 2020, respectively, related to our operating leases.

We obtained the right to use (ROU) assets in exchange for new operating lease liabilities of $18 million and $4 million for the years ended December 31, 2021, and 2020, respectively. We did not enter into any financing leases during 2021 or 2020.

The following table sets forth the minimum lease payments that are expected to be made in each of the years indicated.


	Operating Leases
2022	$	5
2023	7
2024	6
2025	5
2026	5
2027 and thereafter	39
Total lease payments	66
Less: Interest	(15)
Present value of lease liabilities	$	51

Long-term Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

LONG-TERM DEBT


			December 31, 2021						December 31, 2020
	Interest Rate		Principal		Unamortized Debt Costs		Total		Principal		Unamortized Debt Costs		Total
Debentures:
Senior unsecured notes, maturing 2029, interest rates fixed	3.625	%	$	350	$	(4)	$	346	$	—	$	—	$	—
Senior unsecured notes, maturing 2024, interest rates fixed	4.875	%	—		—		—		350		(2)		348
Amended Credit Facility, maturing 2023 to 2024, interest rates variable	varies		—		—		—		—		—		—



Other financing:
Financing leases			—		—		—		1		—		1
Total			350		(4)		346		351		(2)		348
Less: current portion			—		—		—		—		—		—
Long-term portion			$	350	$	(4)	$	346	$	351	$	(2)	$	348

Senior Notes

In March 2021, we issued $350 million of the 3.625% Senior Notes due in 2029 (2029 Senior Notes). We may redeem the 2029 Senior Notes, in whole or in part, prior to March 15, 2024, at a redemption price equal to 100% of the principal amount thereof plus a “make-whole” premium set forth in the indenture governing our 2029 Senior Notes, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. On or after March 15, 2024, we may, at our option on one or more occasions, redeem all or any portion of these notes at the redemption prices set forth in the indenture governing the 2029 Senior Notes, plus accrued and unpaid interest, if any, to, but not including, the date of redemption. The indenture governing the 2029 Senior Notes contains certain covenants that, among other things, limit our ability to grant liens to secure indebtedness, engage in sale and leaseback transactions and merge or consolidate or sell all or substantially all of our assets. If we are subject to a "change of control," as defined in the indenture, we are required to offer to repurchase the 2029 Senior Notes at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, thereon to, but not including, the date of purchase. The indenture governing the 2029 Senior Notes contains customary events of default, including failure to make required payments on the 2029 Senior Notes, failure to comply with certain agreements or covenants contained in the indenture, failure to pay or acceleration of certain other indebtedness and certain events of bankruptcy and insolvency. An event of default in the indenture allows either the indenture trustee or the holders of at least 25% in aggregate principal amount of the then-outstanding 2029 Senior Notes to accelerate, or in certain cases, automatically causes the acceleration of, the amounts due under the 2029 Senior Notes.

In September 2016, we issued $350 million aggregate principal amount of the Senior Notes due 2024 (2024 Senior Notes). In March 2021, we used the proceeds from the issuance of the 2029 Senior Notes and cash on hand to redeem all of the 2024 Senior Notes at a redemption price of 102.438% of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date. In connection with this redemption, we recorded an early debt extinguishment charge of $11 million, recorded within Other non-operating items on the Condensed Consolidated Statements of Income, which included $9 million of redemption premium and $2 million of unamortized debt costs associated with these notes.

Deferred debt costs are amortized over the life of the related debt using a straight-line basis which approximates the effective interest method. If the debt is retired early, the related unamortized deferred financing costs are written off in the period the debt is retired to Other non-operating items. During the year ended December 31, 2021, $2 million were written off in association with the 2024 Senior Notes extinguishment, and we paid $4 million in debt issuance costs that will be deferred and amortized over the life of the 2029 Senior Notes.

Credit Facility

In June 2021 and August 2021, LP entered into third and fourth amendments to its revolving credit facility, dated as of June 27, 2019 (Credit Facility), with American AgCredit, PCA, as administrative agent, and CoBank, ACB, as letter of credit issuer (as amended, the Amended Credit Facility). The Amended Credit Facility provides a revolving credit facility in the principal amount of up to $550 million, with a $60 million sub-limit for letters of credit. The revolving facility, pursuant to the Amended Credit Facility, terminates, and all loans made thereunder become due, in June 2027. LP has granted a security interest in substantially all of its U.S. personal property to secure the Amended Credit Facility, and certain of LP’s existing and future wholly-owned domestic subsidiaries may guarantee its obligations under the Amended Credit Facility and, subject to certain limited exceptions, provide security through a security interest in substantially all the personal property of these subsidiaries. The Amended Credit Facility provides a release of security interest after obtaining an Investment Grade rating from any one of Moody's, S&P, or Fitch.

There were no outstanding amounts borrowed under the Amended Credit Facility as of December 31, 2021.

Revolving borrowings under the Amended Credit Facility accrue interest, at our option, at either (a) a “base rate” plus a margin of 0.500% to 1.500% or (b) LIBOR plus a margin of 1.500% to 2.500%. The Amended Credit Facility also includes an unused commitment fee, due quarterly, ranging from 0.200% to 0.425%. The applicable margins and fees within these ranges are based on our ratio of consolidated EBITDA to cash interest charges. The “base rate” is the highest of (i) the Federal funds rate plus 0.5%, (ii) the U.S. prime rate, and (iii) one-month LIBOR plus 1.0%.

The Amended Credit Facility contains various restrictive covenants and customary events of default, the occurrence of which could result in the acceleration of our obligation to repay the indebtedness outstanding thereunder. The Amended Credit Facility also contains financial covenants that require us and our consolidated subsidiaries to have, as of the end of each quarter, a capitalization ratio (i.e., funded debt less unrestricted cash to total capitalization) of no more than 57.5%.

In March 2020, LP entered into a letter of credit facility agreement (Letter of Credit Facility) with Bank of America, N.A., which provides for the funding of letters of credit up to an aggregate outstanding amount of $20 million, which may be secured by certain cash collateral of LP. The Letter of Credit Facility includes a letter of credit fee, due quarterly, ranging from 0.50% to 1.875% of the daily available amount to be drawn on each letter of credit issued under the Letter of Credit Facility. The Letter of Credit Facility is subject to similar affirmative, negative, and financial covenants as those set forth in the Amended Credit Facility, including capitalization ratio covenants.

As of December 31, 2021, we were in compliance with all financial covenants under the 2029 Senior Notes, the Amended Credit Facility and the Letter of Credit Facility.

Deferred debt costs are amortized over the life of the related debt using a straight-line basis, which approximates the effective interest method. Included in such amortized amounts are deferred debt costs associated with our Amended Credit Facility, which are recorded within Other assets on our Condensed Consolidated Balance Sheets. We amortized deferred debt costs of $2 million for each of the years ended December 31, 2021, 2020, and 2019.

The weighted average interest rate for all long-term debt at December 31, 2021 and 2020, was approximately 3.6% and 4.9%, respectively. Required repayment of principal for long-term debt is as follows:


Years ending December 31,
2022	$	—
2023	—
2024	—
2025	—
2026	—
2027 and after	350
Total	$	350

We estimated the 2029 Senior Notes to have a fair value of $358 million at December 31, 2021, based upon market quotations. We estimated the 2024 Senior Notes to have a fair value of $360 million at December 31, 2020, based upon market quotations. Fair values were based on trading activity among the Company’s lenders and the average bid and ask price as determined using published rates (Level 1 in the U.S. GAAP fair value hierarchy).

Stock-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Shareholders' Equity and Share-based Payments

STOCKHOLDERS' EQUITY

Preferred Stock

We are authorized to issue up to 15,000,000 shares of preferred stock at $1.00 par value. At December 31, 2021, no shares of preferred stock have been issued.

Stock Award Plan

We have a stock-based compensation plan under which stock options, SSARs, restricted stock, restricted stock units, and performance stock units are granted. At December 31, 2021, approximately three million shares were available under the current plan for these awards.


	Year ended December 31,
	2021		2020		2019
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	$	17	$	12	$	9
Income tax benefit related to stock-based compensation	$	3	$	2	$	1
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	(7)	$	(5)	$	(5)

We recognize the compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of three years.

SSARs

Prior to January 1, 2018, we granted SSARs to key employees. On exercise, we generally issue these shares from treasury. The SSARs are granted at market price at the date of grant. SSARs become exercisable over three years and expire ten years after the date of grant. All outstanding SSARs were vested as of December 31, 2021.

Restricted Stock Units and Performance Stock Units

We grant time-vested restricted stock units and performance stock units (PSUs) to certain key employees and directors under our stock award plan. Generally, time-vested restricted stock units granted prior to January 1, 2020, are subject to cliff-vesting for a period of three years from the date of grant for employees and one year for non-employee directors. Those awards granted after January 1, 2020, vest ratably over the three-year vesting period for employees and vest in full on the first anniversary of the grant date for non-employee directors. Certain of these awards are eligible to receive dividend equivalent shares. The grant date fair value of these awards approximates market value of the shares. PSUs vest based upon the attainment of certain performance and market metrics over a three-year cumulative performance period. For awards based upon the achievement of the performance goals, the awards are earned ratably from 0% to 200%. If the performance goals are met at the end of the performance period,

the award is adjusted to reflect LP's three-year total shareholder return (TSR) performance relative to a capital market peer group. This TSR modifier can increase or decrease the award by 20%, although the TSR modifier cannot cause the award to exceed the maximum of 200%.

Summary of Stock Awards Outstanding

The following table summarizes stock awards as of December 31, 2021, as well as activity during the last year.


	Stock Options / SSARS			Restricted Stock Units and Performance Stock Units
	Number of Awards	Weighted Average Exercise Price			Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	387,541	$	15.56		1,228,330	$	27.42
Granted	—	—			538,287	47.57
Exercised	(148,212)	13.36			—	—
Vested	—	—			(429,590)	27.97
Forfeited/cancelled	—	—			(249,033)	32.51
Outstanding at December 31, 2021	239,329	$	16.93		1,087,994	$	36.39
Vested and expected to vest at December 31, 2021(1)	239,329	$	16.93		—	$	36.39
Exercisable at December 31, 2021	239,329	$	16.93		—	—
Unrecognized compensation costs (in millions)		$	—			$	27
To be recognized over weighted-average period of years		0				0.8

_______________

(1)Expected to vest based upon historical forfeiture rate.

In July 2021, LP modified the performance vesting criteria of approximately 149,000 PSU awards granted in 2020. The modification was considered a Type III modification under Accounting for Share-Based Payments (ASC 718), in which the original awards were canceled, and the modified awards were considered granted on the modification date. Post-modification stock-based compensation expense related to these awards will be recognized over the remaining service period using modification date fair values of between $56.35 and $64.12 and the number of awards expected to vest.

The aggregate intrinsic value of the stock options and SSARs is the total pre-tax intrinsic value (the difference between our closing stock price on the last trading day of 2021 and the exercise price, multiplied by the number of in-the-money options and SSARs) that would have been received by the holders had all holders exercised their awards on December 31, 2021. This amount changes based on the market value of our stock, as reported by the New York Stock Exchange. The intrinsic value of SSARs exercised in the years ended December 31, 2021, 2020, and 2019 was $8 million, $8 million, and $13 million, respectively.

The total fair value of awards vested during the years ended December 31, 2021, 2020, and 2019, was $20 million, $13 million, and $11 million, respectively.

Share Repurchases

On February 6, 2020, we announced that our Board of Directors authorized a share repurchase program (2020 Share Repurchase Program) under which LP may repurchase up to $200 million of shares of LP’s common stock, and on November 4, 2020, we announced that our Board of Directors expanded the 2020 Share Repurchase Program by authorizing repurchases of an additional $300 million of our common stock.

On May 4, 2021, our Board of Directors authorized an additional share repurchase program (First 2021 Share Repurchase Program) under which we may repurchase up to $1 billion of shares of our common stock. On

November 2, 2021, our Board of Directors authorized an additional share repurchase plan under which we may repurchase up to $500 million shares of our common stock (Second 2021 Share Repurchase Program).

We repurchased approximately 21 million shares of our common stock at an average price of $61.52 per share through market purchases during 2021, with a remaining capacity of $500 million under the Second 2021 Share Repurchase Program as of December 31, 2021.

Employee Stock Purchase Plan

Our employee stock purchase plan (ESPP) provides our participating employees an opportunity to obtain shares of our common stock at a discount (through payroll deductions over six-month periods). At December 31, 2021, two million shares of common stock were reserved for issuance under the ESPP provisions.

Other Operating Credits and Charges, Net

12 Months Ended

Dec. 31, 2021

Other Operating Credits And Charges, Net [Abstract]

Other Operating Credits And Charges Net [Text Block}

OTHER OPERATING AND NON-OPERATING INCOME (EXPENSE)

Other operating credits and charges, net

The major components of other operating credits and charges, net in the Consolidated Statements of Income for the years ended December 31 are reflected in the table below and described in the paragraphs following the table:


	Year Ended December 31,
	2021		2020		2019
Reorganization and facility curtailment charges	$	(1)	$	(5)	$	(12)
Insurance recoveries	3		—		—
Canadian wage subsidies	—		9		—
Product-line discontinuance charges	—		(8)		—
Environment costs, net of insurance recoveries	(4)		(3)		9
Adjustment to product-related warranty reserves	—		—		4
Other	2		3		(2)
	$	1	$	(4)	$	(1)

During 2021, we recognized a charge of $4 million related to additional estimated environmental costs associated with a non-operating site. We incurred severance and other charges of $1 million related to certain reorganizations. Additionally, we received $3 million in insurance recoveries related to business interruption claims for weather-related downtime sustained in the prior year.

During 2020, we recognized a charge of $3 million related to additional estimated environmental costs to be paid by a third party associated with a non-operating site. We also incurred severance and other charges of $5 million related to certain reorganizations, and we recorded a charge of $8 million related to the discontinuance of our fiber product (primarily related to fiber inventory adjustments to net realizable values). Additionally, we received $9 million of Canadian wage subsidies during 2020.

During 2019, we recognized a $4 million gain related to the reduction of product-related warranty reserves associated with CanExel® products, and we received $9 million related to insurance recoveries on property damage. We also recognized $12 million of severance and other charges related to certain reorganizations.

Non-operating income (expense)

Non-operating income (expense) is comprised of the following components:


	Year Ended December 31,
	2021		2020		2019
Interest expense	$	(15)	$	(17)	$	(18)
Amortization of debt charges	(2)		(2)		(2)
Capitalized interest	3		—		1
Interest expense, net of capitalized interest	(14)		(19)		(19)
Interest income	1		2		9
Gain on sale of auction rate securities	—		3		—
SERP market adjustments	—		(1)		1
Investment income	1		4		10
Net periodic pension cost, excluding service cost	(1)		(1)		(3)
Foreign currency gains (losses)	(3)		1		(5)
Loss on early debt extinguishment	(11)		—		—
Pension settlement charges	(2)		—		—
Gain on acquisition of controlling interest	—		—		14
Other non-operating items	$	(16)	$	—	$	6

Interest expense was $15 million, $17 million, and $18 million for the years ended December 31, 2021, 2020, and 2019, respectively.

During 2021, we recorded an early debt extinguishment charge of $11 million, which included $9 million of redemption premium and $2 million of unamortized debt costs associated with the early redemption of the 2024 Senior Notes. Additionally, we recognized $2 million of pension settlement expense related to a portion of the unrecognized actuarial loss.

During 2020, we sold our auction rate securities (ARS) and recognized a $3 million gain on available-for-sale securities.

During 2019, we obtained a controlling interest in Entekra. Entekra's results of operations have been fully consolidated, and we established a redeemable noncontrolling interest related to the minority holders. Due to the pre-existing ownership interest in Entekra, this acquisition was accounted for as a step acquisition in accordance with ASC 805, Business Combinations. We recognized a gain of $14 million, recorded within Other non-operating items on our Consolidated Statements of Income in connection with this transaction to record our ownership interest in Entekra at fair value on the acquisition date.

IMPAIRMENT OF LONG-LIVED ASSETS	12 Months Ended
IMPAIRMENT OF LONG-LIVED ASSETS	Dec. 31, 2021
GAIN (LOSS) ON SALE OF AND IMPAIRMENT OF LONG-LIVED ASSETS, NET [Abstract]
Impairment of Long-Lived Assets	IMPAIRMENT OF LONG-LIVED ASSETS We review the carrying values of our long-lived assets for potential impairments and believe we have adequate support for the carrying value of our long-lived assets. As of December 31, 2021, the fair values of LP's facilities were in excess of their carrying value, which supported the conclusion that no impairment is necessary for those facilities. However, if demand and pricing for our products fall to levels significantly below cycle average demand and pricing, or should we decide to invest capital in alternative projects, or should changes occur related to our wood supply for our mills, it is possible that future impairment charges will be required. We also review from time to time potential dispositions of various assets, considering current and anticipated economic and industry conditions, our strategic plan, and other relevant factors. Because a determination to dispose of particular assets can require management to make assumptions regarding the transaction structure of the disposition and to estimate the net sales proceeds, which may be less than previous estimates of undiscounted future net cash flows, we may be required to record impairment charges in connection with decisions to dispose of assets. During 2020, we recorded $9 million in pre-tax impairment charges primarily related to our fiber-producing assets at a Siding facility. These impairment charges reflect the announced accelerated conversion of this facility from fiber production to pre-finishing in February 2020. During 2019, we recorded an impairment of long-lived assets of $92 million related to non-operating and operating long-lived assets. Included within these impairment charges are $47 million related to non-operating assets located at Val-d’Or and St Michel, Quebec, Canada; Cook, Minnesota; and Silsbee, Texas; $39 million related to an EWP facility producing LSL and OSB, and $5 million related to a Siding facility that was held for sale. These impairment charges reflect changes to the anticipated usage of these facilities driven by market changes and improved operating efficiencies across our remaining facilities.

Committments and Contingent Liabilities

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Contingencies Disclosure [Text Block]

CONTINGENCIES

We maintain reserves for various contingent liabilities as follows:


	December 31,
	2021		2020
Environmental reserves	$	25	$	14
Other reserves	—		—
Total contingencies	25		14
Current portion*	(1)		(1)
Long-term portion	$	24	$	13

*The current portion of the contingency reserve is included in Accounts payable and accrued liabilities on our Consolidated Balance Sheets.

Estimates of our loss contingencies are based on various assumptions and judgments. Due to the numerous uncertainties and variables associated with these assumptions and judgments, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. We regularly monitor our estimated exposure to contingencies and, as additional information becomes known, may change our estimates significantly. While no estimate of the range of any such change can be made at this time, the amount that we may ultimately pay in connection with these matters could materially exceed, in either the near term or the longer term, the amounts accrued to date. Our estimates of our loss contingencies do not reflect potential future recoveries from insurance carriers except to the extent that recovery may, from time to time, be deemed probable as a result of an insurer’s agreement to payment terms.

Environmental Matters

We maintain a reserve for undiscounted estimated environmental loss contingencies. This reserve is primarily for estimated future costs of remediation of hazardous or toxic substances at numerous sites currently or previously owned by the Company. Our estimates of our environmental loss contingencies are based on various assumptions and judgments, the specific nature of which varies considering the particular facts and circumstances surrounding each environmental loss contingency. These estimates typically reflect assumptions and judgments as to the probable nature, magnitude, and timing of the required investigation, remediation and/or monitoring activities and the probable cost of these activities, and in some cases reflect assumptions and judgments as to the obligation or willingness and ability of third parties to bear a proportionate or allocated share of the cost of these activities. Due to the numerous uncertainties and variables associated with these assumptions and judgments, and the effects of changes in governmental regulation and environmental technologies, both the precision and reliability of the resulting estimates of the related contingencies are subject to substantial uncertainties. We regularly monitor our estimated exposure to environmental loss contingencies and, as additional information becomes known, may change our estimates significantly.

The activity in our reserve for estimated environmental loss contingency reserves is summarized in the following table.


	Year Ended December 31,
	2021		2020
Beginning balance	$	13	$	10
Adjustments to expense during the year (other operating credits charges, net and cost of sales)	7		2
Adjustments to amounts to be paid by a third party	6		2
Payments made	(1)		(1)
Ending balance	$	25	$	13

During 2021 and 2020, we adjusted our reserves at several sites to reflect current estimates of remediation costs and environmental settlements.

Other Proceedings

We and our subsidiaries are parties to legal proceedings in the ordinary course of business. Based on the information currently available, management believes that the resolution of such proceedings should not have a material adverse effect on our financial position, results of operations, cash flows, or liquidity.

Self-Insurance

We are primarily self-insured for workers’ compensation and employee health care liability costs. Self-insurance liabilities for workers’ compensation are determined based upon a valuation performed by an actuarial firm. The estimate of future workers’ compensation liabilities incorporates loss development and an estimate associated with incurred but not yet reported claims. These claims are discounted. Self-insurance liabilities for employee health costs are determined actuarially based upon claims filed and estimated claims incurred but not yet reported. These claims are not discounted.

Indemnities and Guarantees

We are a party to contracts in which we agree to indemnify third parties for certain liabilities that arise out of or relate to the subject matter of the contract. In some cases, this indemnity extends to related liabilities arising out of the negligence of the indemnified parties, but usually excludes any liabilities caused by gross negligence or willful misconduct of the indemnified parties. We cannot estimate the potential amount of future payments under these agreements until events arise that would trigger the liability.

Additionally, in connection with certain sales of assets and divestitures of businesses, we have agreed to indemnify the buyer and related parties for certain losses or liabilities incurred by the buyer or such related parties with respect to (1) the representations and warranties made to the buyer by us in connection with the sales and (2) liabilities related to the pre-closing operations of the assets sold. Indemnities related to pre-closing operations generally include environmental liabilities, tax liabilities, and other liabilities not assumed by the buyer.

Indemnities related to the pre-closing operations of sold assets typically do not represent added liabilities for us, but simply serve to protect the buyer from potential liability associated with the obligations that existed (known and unknown) at the time of the sale. We record accruals for those pre-closing obligations that are considered probable and estimable. We have not accrued any additional amounts as a result of the indemnity agreements summarized below, as we believe the fair value of the guarantees is not material.

•In connection with various sales of our timberlands, we have agreed to indemnify various buyers with respect to losses resulting from breaches of limited representations and warranties contained in these agreements. These indemnities generally are capped at a maximum potential liability and have an unspecified duration.

•In connection with the sale by LP Canada Pulp Ltd (LPCP) of its pulp mill in Chetwynd, BC, Canada, to Tembec, Ltd in October 2002, LCLP provided an indemnity of unspecified duration for liabilities arising out of pre-closing operations. These indemnities, which do not extend to environmental liabilities, are capped at CAD$15 million in the aggregate.

•In connection with the mill exchange by LP Canada of its non-operating OSB mill in Chambord, Quebec, to Norbord in November 2016, we provided an indemnity for liabilities arising out of pre-closing operations. These indemnities are capped at CAD$5 million in aggregate.

We also have various other indemnities that are individually and in the aggregate immaterial.

We record a liability related to specific indemnification when future payment is probable and the amount is estimable.

Product Warranty

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Guarantees and Indemnifications

We offer warranties on the sale of most of our products and record an accrual for estimated future claims. Such accruals are based upon historical experience and management’s estimate of the level of future claims. The activity in warranty reserves is summarized in the following table.


	Year Ended December 31,
	2021		2020
Beginning balance	$	8	$	8
Accrued to expense during the year	1		2

Payments made	(2)		(2)
Total warranty reserves	7		8
Current portion of warranty reserves	(2)		(2)
Long-term portion of warranty reserves	$	6	$	6

The current portion of the warranty reserve is included in Accounts payable and accrued liabilities, and the long-term portion is included in Other long-term liabilities on our Consolidated Balance Sheets.

We believe that the warranty reserve balances at December 31, 2021, are adequate to cover future warranty payments. However, it is possible that additional charges may be required.

Retirement Plans and Post Retirement Benefits

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Retirement Plans and Postretirement Benefits

RETIREMENT PLANS AND POST-RETIREMENT BENEFITS

We sponsor various defined benefit pension plans and defined contribution retirement plans that provide retirement benefits to substantially all of our employees. Most regularly scheduled employees are eligible to participate in the defined contribution retirement plans except those covered by a collective bargaining agreement unless the collective bargaining agreement explicitly allows for participation in our plans. We contribute to a multiemployer plan for certain employees covered by collective bargaining agreements. Participation in the defined benefit pension plans is limited to active and retired employees that were eligible prior to the plans being frozen. We also provide other post-retirement benefits consisting primarily of healthcare benefits to certain retirees who meet age and service requirements.

Defined Benefit Pension Plans

Pension benefits are earned generally based upon years of service and compensation during active employment. Contributions to the defined benefit pension plans are based on actuarial calculations of amounts to cover current service costs and amortization of prior service costs over periods ranging up to 20 years. We contribute additional funds as necessary to maintain desired funding levels.

Benefit accruals under our most significant plan, which account for approximately 80% of the assets and 82% of the benefit obligations in the tables below, had been credited at the rate of three percent of eligible compensation with an interest credit based upon the 30-year U.S. Treasury rate. The Company discontinued providing contribution credits effective January 1, 2010, to its U.S. plans. The remaining defined benefit pension plans in Canada used a variety of benefit formulas, and we discontinued providing contribution credits effective January 1, 2020.

In November 2021, the Company initiated the termination of our frozen U.S. and Canadian defined benefit pension plans (the Plan), which would result in the full settlement of the Company's Plan obligations. The distribution of Plan assets pursuant to the termination will not be made until the Plan termination satisfies all regulatory requirements, which is expected to occur by the end of 2022. Plan participants will receive their full accrued benefits from Plan assets by electing either lump-sum distributions or annuity contracts with a qualifying third-party annuity provider. The Plan termination is expected to result in pension settlement expense in 2022, which will be determined based on prevailing market conditions, the actual lump-sum distributions, and annuity purchase rates at the date of distribution. As a result, we are currently unable to reasonably estimate the timing or final amount of such settlement charges. Upon settlement, we expect to recognize pre-tax pension settlement charges that will include a non-cash charge for the recognition of all pre-tax actuarial losses accumulated in Accumulated Other Comprehensive Loss ($101 million as of December 31, 2021) and (2) any cash contributions to settle the Plan’s obligations ($6 million net projected benefit obligation as of December 31, 2021). The actual amount of the settlement charges and any potential cash contribution will depend on various factors, including interest rates, Plan asset returns, and the lump-sum election rate.

The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated salary increases. The following table details information regarding our pension plans at December 31, 2021 and 2020:


	2021		2020
Change in benefit obligation:
Beginning of year balance	$	319	$	312
Service cost	1		1
Interest cost	7		9
Actuarial (gains) losses, net	(8)		17


Foreign exchange rate changes	1		1
Benefits paid	(19)		(21)
End of year balance	$	301	$	319
Change in assets (fair value):
Beginning of year balance	$	310	$	294
Actual return on plan assets	5		35
Employer contribution	—		—
Foreign exchange rate changes	1		2
Benefits paid	(19)		(21)
End of year balance	$	296	$	310
Plan assets less than benefit obligations	$	(6)	$	(10)

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	6	$	7
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(12)		(17)
Net amount recognized	$	(6)	$	(10)

Amounts in accumulated other comprehensive income:
Net actuarial loss	$	(95)	$	(101)
Prior service costs	(6)		(8)
Total pre-tax amounts in accumulated other comprehensive income	$	(101)	$	(109)

The 2021 actuarial gains of $8 million were primarily related to the impact of plan termination assumptions on the

discount rate. The 2020 actuarial losses of $17 million were largely the result of the actual return on assets exceeding the expected asset return offset by the increase in liability due to a decrease in the discount rate used to measure the obligations under the pension plans.

The changes recognized in other comprehensive loss were as follows:


	Year Ended December 31,
	2021		2020		2019
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	$	(1)	$	3	$	—
Amortization of actuarial loss, prior service cost and settlements, net of tax	6		5		4
Total amounts recognized in other comprehensive income	$	5	$	8	$	4

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2021 and 2020:


	2021		2020
Discount rate:
U.S.	2.6	%	2.3	%
Canada	2.6	%	2.3	%
Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

Benefit obligations by plan category are as follows:


	2021
	U.S.		Canada		Total
Fair value of plan assets	$	237	$	59	$	296
Benefit obligation	247		54		301
Funded Status	$	(11)	$	5	$	(6)

	2020
	U.S.		Canada		Total
Fair value of plan assets	$	246	$	64	$	310
Benefit obligation	262		58		319
Funded Status	$	(16)	$	6	$	(10)

The benefits expected to be paid from the benefit plans, which reflect expected future service, are as follows:


Year
2022	$	76
2023	19
2024	16
2025	16
2026	16
2027– 2031	72

These estimated benefit payments are based upon assumptions about future events, including planned termination and expected settlements in 2022. Actual benefit payments may vary significantly from these estimates.

The following table sets forth the net periodic pension cost for our defined benefit pension plans. The components of our net periodic pension costs consisted of the following:


	Year Ended December 31,
	2021		2020		2019
Service cost	$	1	$	1	$	3
Other components of net periodic pension cost:
Interest cost	7		9		12
Expected return on plan assets	(13)		(14)		(14)
Amortization of prior service cost and net transition asset	1		1		1
Amortization of net actuarial loss	6		6		5
Net periodic pension cost before loss due to settlement	2		2		6
Loss due to settlement	2		—		—
Total net periodic pension cost	$	4	$	2	$	6

Net periodic pension cost included in cost of sales	$	—	$	—	$	2
Net periodic pension cost included in selling, general, and administrative expenses	1		1		1
Net periodic pension cost included in other non-operating items	3		1		3
	$	4	$	2	$	6

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2021, 2020, and 2019:


	2021		2020		2019
Discount rate:
U.S.	2.3	%	3.1	%	4.2	%
Canada	2.3	%	3.0	%	3.8	%

Expected return on plan assets:
U.S.	5.3	%	5.8	%	5.8	%
Canada	2.3	%	3.2	%	3.4	%

Rate of compensation increase:
U.S.	NA		NA		NA
Canada	NA		3.5	%	3.5	%

The expected long-term rate of return on plan assets reflects the weighted average expected long-term rates of return for the broad categories of investments currently held in the plans (adjusted for expected changes), based on historical rates of return for each broad category, as well as factors that may constrain or enhance returns in the broad categories in the future. The expected long-term rate of return on plan assets is adjusted when there are fundamental changes in expected returns in one or more broad asset categories and when the weighted average mix of assets in the plans changes significantly.

Asset allocation targets are established based upon the long-term returns and volatility characteristics of the investment classes and recognize the benefits of diversification and the profits of the plans’ liabilities. The actual and target allocations at the measurement dates are as follows:


	Target Allocation 2021*		Actual Allocation
			2021		2020
Asset category
U.S. Plans
Equity securities	—	%	—	%	41	%
Debt securities	76	%	76	%	38	%
Multi-Strategy Funds	—	%	—	%	20	%

Cash and cash equivalents	24	%	24	%	1	%
Total Allocation for U.S. Plans	100	%	100	%	100	%

Non-U.S. Plans
Debt securities	54	%	22	%	40	%
Multi-Strategy Funds	—	%	59	%	60	%
Cash and cash equivalents	46	%	19	%	—	%
Total Allocation for Non-U.S. Plans	100	%	100	%	100	%

*Target allocation relates to the Company's Plan as of December 31, 2021. During fiscal 2021, the investment policy for the Company's Plan was updated to establish modified asset allocation targets. The updated investment objective is intended to reduce risk assets in favor of fixed-income investments as a result of the planned termination and expected settlement of the Plan in fiscal 2022.

Our investment policies for the defined benefit pension plans provide target asset allocations by broad categories of investment and ranges of acceptable allocations. These policies are set by an administrative committee with the goal of maximizing long-term investment returns within acceptable levels of volatility and risk. Our U.S. plans include hedge funds and real return investment strategies to increase returns and reduce volatility. Our plans do not currently invest directly in derivative securities, although such investments may be considered in the future to increase returns and/or reduce volatility. To the extent the expected return on plan assets varies from the actual return, an actuarial gain or loss results.

The fair value of our pension plan assets and fair value asset categories and the level of inputs as defined in Note 1 at December 31, 2021, and 2020, are as follows:


	December 31, 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value



Fixed-income investment funds:
Domestic bond funds	180		—		180		—		—
International bond funds	47		—		13		—		34
Multi-strategy funds	—		—		—		—		—
Cash and cash equivalents	68		58		11		—		—
Total	$	296	$	58	$	204	$	—	$	34

	December 31, 2020
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value
Equity investment funds:
Domestic stock funds	$	56	$	56	$	—	$	—	$	—
International stock funds	46		46		—		—		—
Fixed-income investment funds
Domestic bond funds	94		17		—		—		77
International bond funds	64		—		26		—		38
Multi-strategy funds	48		48		—		—		—
Cash and cash equivalents	2		—		2		—		—
Total	$	310	$	167	$	28	$	—	$	115

Defined Contribution Plans

We also sponsor defined contribution plans in the U.S. and Canada. In the U.S., these plans are primarily 401(k) plans for hourly and salaried employees that allow for pre-tax employee deferrals and a Company match of up to five percent of an employee’s eligible wages (subject to certain limits). Under the profit-sharing feature of these plans, we may elect to contribute a discretionary amount as a percentage of eligible wages. Included in the assets of the 401(k) and profit-sharing plans are one million shares of LP common stock that represented approximately nine percent of the total market value of plan assets at December 31, 2021.

In Canada, we sponsor both defined contribution plans and Registered Retirement Savings Plans for hourly and salaried employees that allow for employee tax deferrals. We provide a base contribution of three percent of eligible earnings and match 50% of an employee’s deferrals up to a maximum of three percent of each employee’s eligible earnings (subject to certain limits).

Expenses related to the U.S. and Canadian defined contribution plans and the Registered Retirement Savings Plans, including the profit-sharing feature, were $22 million, $16 million, and $10 million in 2021, 2020, and 2019, respectively.

Other Benefit Plans

We have several plans that provide post-retirement benefits other than pensions, primarily for salaried employees in the U.S. and certain groups of Canadian employees. The obligation at December 31, 2021 and 2020, for these post-retirement benefits was $10 million for each period. The net expense related to these plans was not significant in 2021 or 2020.

In 2004, we adopted the Louisiana-Pacific Corporation 2004 Executive Deferred Compensation Plan (the Deferred Compensation Plan). Pursuant to the Deferred Compensation Plan, participants are eligible to defer up to 90% of their base salary and annual cash incentives that exceed the limitation as set forth by the I.R.S. and receive a five percent match on their contributions. Each Deferred Compensation Plan participant is fully vested in all employee deferred compensation and earnings credited associated with employee contributions. Employer contributions and associated earnings vest over periods not exceeding five years. The liability under the Deferred Compensation Plan amounted to $2 million at December 31, 2021, and 2020, respectively, and is included in Other long-term liabilities on our Consolidated Balance Sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Accumulated Comprehensive Loss

12 Months Ended

Dec. 31, 2021

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Other Comprehensive Income (Loss), Net of Tax

ACCUMULATED OTHER COMPREHENSIVE INCOME

Accumulated other comprehensive income includes cumulative translation adjustments, unrealized gains (losses) on certain financial instruments, and pension and post-retirement adjustments. Other comprehensive income activity, net of tax, is provided in the following table:


	Pension		Translation Adjustments		Other		Total
Balance at December 31, 2018	$	(93)	$	(57)	$	4	$	(146)
Reclassified to income statement, net of taxes1	4		—		(1)		3
Translation adjustments	—		(10)		—		(10)
Balance at December 31, 2019	(89)		(67)		3		(153)
Other comprehensive income before reclassifications, net of taxes	3		—		(2)		1
Reclassified to income statement, net of taxes1	5		—		(3)		2
Translation adjustments	—		(1)		—		(1)
Balance at December 31, 2020	(81)		(68)		(2)		(151)

Reclassified to income statement, net of taxes1	5		—		—		5

Translation adjustments	—		(28)		—		(28)
Balance at December 31, 2021	$	(76)	$	(96)	$	(1)	$	(174)

1 Amounts of actuarial loss and prior service cost are components of net periodic benefit cost. See Note 17 above for additional details.

Foreign currency translation adjustments exclude income tax expense (benefit) given that these adjustments arise out of the translation of assets into the reporting currency that is separate from the taxable income and is deemed to be reinvested for an indefinite period of time. The pension amounts reclassified from accumulated other comprehensive income included an income tax provision of $2 million, $2 million, and $1 million in 2021, 2020, and 2019, respectively.

Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting Information [Line Items]

Segment Reporting Disclosure [Text Block]

. SEGMENT INFORMATION

We operate in four segments: Siding, OSB, EWP, and South America. Our business units have been aggregated into these four 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.

•The Siding segment serves diverse end markets with a broad product offering of engineered wood siding, trim, and fascia, 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).

•The OSB segment manufactures and distributes OSB structural panel products, including our value-added OSB portfolio known as LP Structural Solutions (which includes LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, and LP® FlameBlock® Fire-Rated Sheathing) and LP® TopNotch® Sub-Flooring.

•The EWP segment consists of LP SolidStart I-Joist (I-Joist), Laminated Veneer Lumber (LVL), Laminated Strand Lumber (LSL), and other related products. This segment also includes the sales of I-Joist and LVL products produced by our joint venture and sales of plywood produced as an ancillary product of the LVL production process. During 2021, we ceased Laminated Strand Lumber (LSL) production at our Houlton, Maine facility to begin the conversion of that facility to Siding Solutions production.

•Our South America segment manufactures and distributes OSB structural panel and siding products in South America and certain export markets. This segment has manufacturing operations in two countries, Chile and Brazil, and operates sales offices in Chile, Brazil, Peru, Columbia, Argentina, and Paraguay.

We evaluate the performance of our business segments based on net sales and Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on net sales and Adjusted EBITDA for our business segments. Adjusted EBITDA is a non-GAAP financial measure and is defined as income attributed to LP before interest expense, provision for income taxes, depreciation and amortization, and exclude 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.

Information about our product segments is as follows:


	Year Ended December 31,
	2021		2020		2019
NET SALES BY BUSINESS SEGMENT
Siding	$	1,170	$	959	$	917
OSB	2,387		1,220		777
EWP	638		389		396
South America	265		169		159
Other	95		52		66
Intersegment Sales	(3)		(1)		(5)
Total sales	$	4,553	$	2,788	$	2,310


PROFIT BY SEGMENT
Net income	$	1,373	$	497	$	(10)
Add (deduct):
Loss from noncontrolling interest	4		2		5

Income from operations attributed to LP	1,377		499		(5)
Provision for income taxes	426		125		(13)
Depreciation and amortization	119		111		122
Stock-based compensation expense	17		12		9
Loss on impairment attributed to LP	5		15		92
Other operating credits and charges, net	(1)		(4)		1
Product-line discontinuance charges	—		8		—
Pension settlement charges	2		—		—
Interest expense	14		19		19
Investment income	(1)		(4)		(10)
Loss on early debt extinguishment	11		—		—
Other non-operating items	4		—		(6)
Adjusted EBITDA	$	1,972	$	781	$	209
Siding	$	289	$	246	$	169
OSB	1,531		519		10
EWP	95		23		26
South America	113		42		34
Other	(20)		(19)		(3)
Corporate	(36)		(30)		(27)
Adjusted EBITDA	$	1,972	$	781	$	209

	Year Ended December 31,
	2021		2020		2019
Depreciation and Amortization
Siding	$	34	$	32	$	36
OSB	69		65		59
EWP	5		4		16
South America	8		7		9
Other	4		3		3
Non-segment related	—		—		—
Total depreciation and amortization	$	119	$	111	$	123

Capital Expenditures
Siding	$	177	$	34	$	86
OSB	47		25		46
EWP	5		6		6
South America	20		7		7
Other	2		4		14
Non-segment related	4		1		4
Total capital expenditures	$	254	$	77	$	163

Information concerning identifiable assets by segment is as follows:


	December 31,
	2021		2020
Identifiable Assets
Siding	$	705	$	521
OSB	521		511
EWP	121		81
South America	118		106
Other	86		90
Non-segment related	643		778
Total assets	$	2,194	$	2,086

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:


	Year Ended December 31,
	2021		2020		2019
GEOGRAPHIC LOCATIONS
Total Sales—Point of origin
U.S.	$	3,848	$	2,425	$	1,968
Canada	915		643		653
South America	291		185		178
Intercompany sales	(501)		(465)		(489)
Total Sales	$	4,553	$	2,788	$	2,310
Operating profit (loss)
U.S.	$	1,709	$	608	$	95
Canada	61		50		(17)
South America	106		35		25
Other operating credits and charges, net and loss on impairments of assets	(5)		(20)		(93)
General corporate expense, loss on early debt extinguishment, other income (expense) and interest, net	(72)		(52)		(33)
	1,799		621		(23)
Provision for income taxes	(426)		(125)		13
Income from continuing operations	$	1,373	$	497	$	(10)
Loss attributed to noncontrolling interest	4		2		5
Income from continuing operations attributed to LP	$	1,377	$	499	$	(5)

IDENTIFIABLE TANGIBLE LONG LIVED ASSETS
U.S.	$	419	$	533	$	570
Canada	683		367		390
South America	75		77		74
Total assets	$	1,177	$	977	$	1,034

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	20. SUBSEQUENT EVENT On February 14, 2022, we entered an agreement to sell our 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc. for $50 million, subject to customary adjustments. The joint ventures are comprised of Resolute-LP Engineered Wood Larouche Inc. in Larouche, Quebec, and Resolute-LP Engineered Wood St-Prime Limited Partnership in Saint-Prime, Quebec. We will enter into separate agreements with Resolute Forest Products to continue to serve as the exclusive distributor of the engineered wood products manufactured at the two operations. The completion of the sale, subject to regulatory approvals and certain closing conditions, is expected to close in the first half of 2022.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Nature of Operations [Policy Text Block]

Nature of Operations

See Note 19 below for further information regarding our products and segments.

Consolidation, Policy [Policy Text Block]

Basis of Presentation

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and short-term investments of three months or less when purchased. These investments are stated at cost, which approximates market value.

Investment, Policy [Policy Text Block]

InvestmentsOur long-term investments are classified as available-for-sale and are reported at estimated fair value. Unrealized gains and losses, net of tax, on these investments are reported as a component of accumulated comprehensive loss in stockholders’ equity until realized. Impairment losses are charged to income for other-than-temporary declines in fair value. Realized gains and losses (including impairments) are recorded as investment income. For purposes of computing realized gains and losses, the cost is identified on a specific identification basis.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value Measurements

There are three levels of inputs that may be used to measure fair value:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Inventory, Policy [Policy Text Block]

InventoriesInventories are valued at the lower of cost or net realizable value. Inventory costs include materials, labor, and operating overhead. The FIFO (first-in, first-out) or average cost methods are used to value our inventories as of December 31, 2021.

Timber and Timberlands [Policy Text Block]

Timber and Timberlands

Property, Plant and Equipment, Policy [Policy Text Block]

Property, Plant, and Equipment

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following:


	December 31,
	2021		2020
Land, land improvements, and logging roads, net of road amortization	$	182	$	172
Buildings	352		356
Machinery and equipment	2,050		1,971
Construction in progress	202		63
	2,786		2,562
Accumulated depreciation	(1,717)		(1,644)
Property, plant, and equipment, net	$	1,069	$	918

Asset Impairment, Policy [Policy Text Block]

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill and Intangible Assets

Investments in Affiliates

Investments in AffiliatesWe account for investments in affiliates when we do not have a controlling financial interest using the equity method under which LP’s share of earnings and losses of the affiliate is reflected in earnings, and dividends are credited against the investment in affiliate when declared.

Restricted Cash, Policy [Policy Text Block]

Restricted Cash

Our restricted cash accounts generally secure outstanding letters of credit. The restricted cash balance at December 31, 2021 and 2020, was $13 million and $0 million, respectively.

Asset Retirement Obligation [Policy Text Block]

Asset Retirement Obligations


	Year Ended December 31,
	2021		2020
Beginning balance	$	10	$	11
Accretion expense	1		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(2)		(1)
Payments made	—		(1)
Ending balance	$	8	$	10

Income Taxes, Policy [Policy Text Block]

Income Taxes

We are subject to global intangible low-taxed income, an incremental tax on foreign income. We have made an accounting election to record this tax in the period the tax arises.

Consolidation, Variable Interest Entity, Policy [Policy Text Block]

Redeemable Noncontrolling Interest

Stock-based Compensation Policy [Policy Text Block]

Stock-Based Compensation

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

Other operating charges and credits policy [Policy Text Block]

Other Operating Credits and Charges, Net

We classify significant amounts unrelated to ongoing core operating activities as other operating credits and charges,

Retirement Benefits Policy [Policy Text Block]

Retirement BenefitsWe are required to use actuarial methods and assumptions in the valuation of defined benefit obligations and the determination of expense. Differences between actual and expected results or changes in the values of the obligations and plan assets are not recognized in earnings as they occur but, instead, systematically and gradually over subsequent periods.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive IncomeComprehensive income consists of net income and other gains and losses affecting stockholders’ equity that are excluded from net income, including foreign currency translation adjustments, costs associated with pension or other post-retirement benefits that have not been recognized as components of net periodic benefit costs, and net unrealized gains or losses on securities and is presented in the accompanying Consolidated Statements of Comprehensive Income.

Advertising Cost [Policy Text Block]

Advertising costsAdvertising costs of $24 million, $20 million, and $28 million in 2021, 2020, and 2019, respectively, are principally expensed as incurred and included as part of selling, general, and administrative expenses within our Consolidated Statements of Income. Advertising costs include product displays, media production costs, agency fees, sponsorships, and cooperating advertising.

Revenue Recognition and Deferred Revenue (Policies)	12 Months Ended
Revenue Recognition and Deferred Revenue (Policies)	Dec. 31, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Revenue	Revenue is recognized when obligations under the terms of a contract (i.e., purchase orders) with our customers are satisfied; generally, this occurs with the transfer of control of our products at a point in time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The shipping cost incurred by us to deliver products to our customers is recorded in cost of sales. The expected costs associated with our warranties continue to be recognized as an expense when the products are sold.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Receivables consisted of the following:


	December 31,
	2021		2020
Trade receivables	$	172	$	161
Income tax receivable	1		2
Other receivables	20		23
Allowance for doubtful accounts	(2)		(2)
	$	191	$	184

Schedule of Inventory, Current [Table Text Block]

Inventories


	December 31,
	2021		2020
Logs	$	59	$	49
Other raw materials	59		36
Semi-finished inventory	38		28
Finished products	168		146
Total	$	323	$	259

Depreciation expense [Table Text Block]

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below:


	Year Ended December 31,
	2021		2020		2019
Cost of sales	$	111	$	103	$	115
Selling, general and administrative expenses	3		3		3
Total depreciation and amortization	$	114	$	106	$	118

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following:


	December 31,
	2021		2020
Land, land improvements, and logging roads, net of road amortization	$	182	$	172
Buildings	352		356
Machinery and equipment	2,050		1,971
Construction in progress	202		63
	2,786		2,562
Accumulated depreciation	(1,717)		(1,644)
Property, plant, and equipment, net	$	1,069	$	918

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable and accrued liabilities were as follows:


	December 31,
	2021		2020
Trade accounts payable	$	191	$	125
Salaries and wages payable	71		62
Accrued rebates	45		44
Taxes other than income taxes	12		15
Current portion of operating lease liabilities	7		8
Current portion of contingency reserve	1		1
Other accrued liabilities	11		13
Total Accounts payable and accrued liabilities	$	338	$	268

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities were as follows:


	December 31,
	2021		2020
Pension benefit obligation	$	12	$	17
Asset retirement obligations	8		10
Uncertain tax positions	9		9
Post-retirement obligations	9		9
Warranty reserves	6		6
Other	61		35
Total Other long-term liabilities	$	105	$	86

Schedule of Asset Retirement Obligations [Table Text Block]

The activity in our asset retirement obligation liability for 2021 and 2020 is summarized in the following table.


	Year Ended December 31,
	2021		2020
Beginning balance	$	10	$	11
Accretion expense	1		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(2)		(1)
Payments made	—		(1)
Ending balance	$	8	$	10

Revenue (Tables)

12 Months Ended

Dec. 31, 2021

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]


Year Ended December 31, 2021
By Product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,158	$	—	$	—	$	33	$	—	$	—	$	1,191
OSB - Structural Solutions	—		1,152		—		227		—		—		1,379
I-Joist	—		—		309		—		—		—		309
LVL	—		—		194		—		—		—		194
LSL	—		—		47		—		—		(3)		44
	1,158		1,152		550		260		—		(3)		3,117
Commodity
OSB - Commodity	—		1,221		—		—		—		—		1,221
Plywood	—		—		48		—		—		—		48
	—		1,221		48		—		—		—		1,269
Other
Other products	12		14		39		5		95		—		166
	$	1,170	$	2,387	$	638	$	265	$	95	$	(3)	$	4,553


Year Ended December 31, 2020
By Product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	915	$	—	$	—	$	20	$	—	$	—	$	935
OSB - Structural Solutions	—		580		—		146		—		—		726
I-Joist	—		—		148		—		—		—		148
LVL	—		—		141		—		—		—		141
LSL	—		—		45		—		—		—		45
	915		580		334		166		—		—		1,995
Commodity
OSB - Commodity	—		632		—		—		—		(1)		631
Plywood	—		—		25		—		—		—		25
	—		632		25		—		—		(1)		656
Other
Other products	44		9		30		3		52		—		137
	$	959	$	1,220	$	389	$	169	$	52	$	(1)	$	2,788


Year Ended December 31, 2019
By Product type and family:	Siding		OSB		EWP		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	797	$	—	$	—	$	19	$	—	$	—	$	816
OSB - Structural Solutions	1		381		8		138		—		—		528
I-Joist	—		—		137		—		—		—		137
LVL	—		—		142		—		—		—		141
LSL	—		—		50		—		—		—		50
	798		381		337		156		—		—		1,672
Commodity
OSB - Commodity	9		387		3		—		—		(5)		394
Plywood	—		—		25		—		—		—		25
	9		387		28		—		—		(5)		419
Other
Other products	110		9		31		3		66		—		218
	$	917	$	777	$	396	$	159	$	66	$	(5)	$	2,310

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share:


	Year Ended December 31,
Share amounts in millions	2021	2020	2019






Denominator for basic earnings per share:
Weighted average common shares outstanding	97	111	123
Effect of dilutive securities:
Dilutive effect of employee stock plans	1	1	—
Dilutive potential common shares	98	112	123
Denominator for diluted earnings per share:
Adjusted weighted average shares	98	112	123

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes in goodwill by segment for the years ended December 31, 2021 and 2020, are provided in the following table:


	Siding		OSB		Other		Total
Balance at December 31, 2019	$	4	$	16	$	10	$	30

Impairment charges	—		—		(5)		(5)
Balance at December 31, 2020	4		16		5		25

Impairment charges	—		—		(5)		(5)
Balance at December 31, 2021	$	4	$	16	$	—	$	19

Schedule of Intangible Assets and Goodwill [Table Text Block]

Changes in other intangible assets for the years ended December 31, 2021 and 2020, are provided in the following table:


	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2019	$	38	$	20	$	3	$	61

Amortization	(4)		(1)		—		(5)
Balance at December 31, 2020	34		19		3		56


Amortization	(3)		(2)		—		(6)
Balance at December 31, 2021	$	31	$	17	$	2	$	50

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]


	Year Ended December 31,
	2021		2020		2019
Domestic	$	1,632	$	528	$	18
Foreign	167		93		(41)
Total	$	1,799	$	621	$	(23)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]


	Year Ended December 31,
	2021		2020		2019
Current tax provision (benefit):
U.S. federal	$	314	$	79	$	(5)
State and local	62		17		(1)
Foreign	44		27		(17)
Net current tax provision (benefit)	420		123		(23)
Deferred tax provision (benefit):
U.S. federal	2		(3)		7
State and local	—		8		(1)
Foreign	4		(2)		5
Net valuation allowance increase (decrease)	—		(1)		(1)
Net deferred tax provision	6		2		10
Total income tax provision (benefit)	$	426	$	125	$	(13)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of significant temporary differences creating deferred tax assets and liabilities were as follows:


	December 31,
	2021		2020
Accrued liabilities	$	20	$	23
Pension and post-retirement benefits	4		5
Stock-based compensation	4		4
Benefit relating to capital loss, NOL carryforwards, and credit carryforwards	7		9
Inventories	8		7
Operating lease liabilities	8		5
Other	9		12
Total deferred tax assets	60		65
Valuation allowance	(10)		(10)
Total deferred tax asset after valuation allowance	50		55
Property, plant, and equipment	(112)		(109)
Timber and timberlands	(8)		(9)
Operating lease assets	(8)		(5)
Investment in Entekra	(6)		(7)
Total deferred tax liabilities	(134)		(130)
Net deferred tax liabilities	(84)		(75)
Balance sheet classification
Long-term deferred tax asset	2		3
Long-term deferred tax liability	(86)		(78)
	$	(84)	$	(75)

Summary of Tax Credit Carryforwards [Table Text Block]

The benefit relating to capital loss and credit carryforwards included in the above table at December 31, 2021, consisted of:


	Benefit Amount		Valuation Allowance		Expiration Beginning in
State credit carryforwards	$	1	$	—	2034
Canadian capital loss carryforwards	6		(6)		No expiration
	$	7	$	(6)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following table summarizes the differences between the U.S. federal statutory tax rates and the total effective tax rates from continuing operations:


	Year Ended December 31,
	2021			2020			2019
Income from continuing operations before income taxes, including equity in unconsolidated affiliates	$	1,799		$	621		$	(23)

U.S. federal tax rate	21		%	21		%	21		%
State and local income taxes net of federal benefit	3			3			11
Effect of foreign tax rates	1			1			9
Effect of foreign exchange on functional currencies	—			—			(4)
Tax credits	—			(1)			8
Noncontrolling interest	—			—			(4)
Stock-based compensation	—			—			5

Capital gain tax rate differential	—			—			5
Inflationary adjustment	—			—			5
Valuation allowance	—			—			8
Uncertain tax positions	—			(4)			(7)

Other, net	(1)			—			1
Effective tax rate (%)	24		%	20		%	58		%

Summary of Income Tax Contingencies [Table Text Block]


	December 31,
	2021		2020		2019
Beginning balance	$	11	$	38	$	41
Increases:
Tax positions taken in current year	1		1		1
Tax positions taken in prior years	—		1		—
Decreases:


Settlements during the year	—		—		(4)
Lapse of statute in current year	(3)		(29)		—
Ending balance	$	9	$	11	$	38

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease, Cost [Table Text Block]

Our operating leases are included in our Consolidated Balance Sheets and Consolidated Statement of Incomes as follows:


	Classification	December 31,
Consolidated Balance Sheet		2021		2020
Assets:
Operating lease assets	Operating lease assets	$	52	$	40

Total lease assets		$	52	$	40
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	7	$	8

Non-current
Operating	Non-current operating lease liabilities	44		32

Total lease liabilities		$	51	$	40

Lessor, Operating Lease, Payments to be Received, Maturity

The following table sets forth the minimum lease payments that are expected to be made in each of the years indicated.


	Operating Leases
2022	$	5
2023	7
2024	6
2025	5
2026	5
2027 and thereafter	39
Total lease payments	66
Less: Interest	(15)
Present value of lease liabilities	$	51

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]


			December 31, 2021						December 31, 2020
	Interest Rate		Principal		Unamortized Debt Costs		Total		Principal		Unamortized Debt Costs		Total
Debentures:
Senior unsecured notes, maturing 2029, interest rates fixed	3.625	%	$	350	$	(4)	$	346	$	—	$	—	$	—
Senior unsecured notes, maturing 2024, interest rates fixed	4.875	%	—		—		—		350		(2)		348
Amended Credit Facility, maturing 2023 to 2024, interest rates variable	varies		—		—		—		—		—		—



Other financing:
Financing leases			—		—		—		1		—		1
Total			350		(4)		346		351		(2)		348
Less: current portion			—		—		—		—		—		—
Long-term portion			$	350	$	(4)	$	346	$	351	$	(2)	$	348

Schedule of Maturities of Long-term Debt [Table Text Block]


Years ending December 31,
2022	$	—
2023	—
2024	—
2025	—
2026	—
2027 and after	350
Total	$	350

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Cost by Plan [Table Text Block]

Stock Award Plan


	Year ended December 31,
	2021		2020		2019
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	$	17	$	12	$	9
Income tax benefit related to stock-based compensation	$	3	$	2	$	1
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	(7)	$	(5)	$	(5)

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes stock awards as of December 31, 2021, as well as activity during the last year.


	Stock Options / SSARS			Restricted Stock Units and Performance Stock Units
	Number of Awards	Weighted Average Exercise Price			Number of Awards	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020	387,541	$	15.56		1,228,330	$	27.42
Granted	—	—			538,287	47.57
Exercised	(148,212)	13.36			—	—
Vested	—	—			(429,590)	27.97
Forfeited/cancelled	—	—			(249,033)	32.51
Outstanding at December 31, 2021	239,329	$	16.93		1,087,994	$	36.39
Vested and expected to vest at December 31, 2021(1)	239,329	$	16.93		—	$	36.39
Exercisable at December 31, 2021	239,329	$	16.93		—	—
Unrecognized compensation costs (in millions)		$	—			$	27
To be recognized over weighted-average period of years		0				0.8

_______________

(1)Expected to vest based upon historical forfeiture rate.

Other Operating Credits and Charges, Net (Tables)

12 Months Ended

Dec. 31, 2021

Other Operating Credits And Charges, Net [Abstract]

Schedule of Other Nonoperating Income (Expense) [Table Text Block]

Non-operating income (expense) is comprised of the following components:


	Year Ended December 31,
	2021		2020		2019
Interest expense	$	(15)	$	(17)	$	(18)
Amortization of debt charges	(2)		(2)		(2)
Capitalized interest	3		—		1
Interest expense, net of capitalized interest	(14)		(19)		(19)
Interest income	1		2		9
Gain on sale of auction rate securities	—		3		—
SERP market adjustments	—		(1)		1
Investment income	1		4		10
Net periodic pension cost, excluding service cost	(1)		(1)		(3)
Foreign currency gains (losses)	(3)		1		(5)
Loss on early debt extinguishment	(11)		—		—
Pension settlement charges	(2)		—		—
Gain on acquisition of controlling interest	—		—		14
Other non-operating items	$	(16)	$	—	$	6

Other Operating Credits and Charges Net [Table Text Block]


	Year Ended December 31,
	2021		2020		2019
Reorganization and facility curtailment charges	$	(1)	$	(5)	$	(12)
Insurance recoveries	3		—		—
Canadian wage subsidies	—		9		—
Product-line discontinuance charges	—		(8)		—
Environment costs, net of insurance recoveries	(4)		(3)		9
Adjustment to product-related warranty reserves	—		—		4
Other	2		3		(2)
	$	1	$	(4)	$	(1)

Committments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

maintain reserves for various contingent liabilities as follows:


	December 31,
	2021		2020
Environmental reserves	$	25	$	14
Other reserves	—		—
Total contingencies	25		14
Current portion*	(1)		(1)
Long-term portion	$	24	$	13

*The current portion of the contingency reserve is included in Accounts payable and accrued liabilities on our Consolidated Balance Sheets.

Schedule of Environmental Loss Contingencies by Site [Table Text Block]

The activity in our reserve for estimated environmental loss contingency reserves is summarized in the following table.


	Year Ended December 31,
	2021		2020
Beginning balance	$	13	$	10
Adjustments to expense during the year (other operating credits charges, net and cost of sales)	7		2
Adjustments to amounts to be paid by a third party	6		2
Payments made	(1)		(1)
Ending balance	$	25	$	13

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12053-110248

+ Details

Product Warranty (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The activity in warranty reserves is summarized in the following table.


	Year Ended December 31,
	2021		2020
Beginning balance	$	8	$	8
Accrued to expense during the year	1		2

Payments made	(2)		(2)
Total warranty reserves	7		8
Current portion of warranty reserves	(2)		(2)
Long-term portion of warranty reserves	$	6	$	6

Retirement Plans and Post Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Net Funded Status and Assumptions Used in Calculating Benefit Obligation [Table Text Block]


	2021		2020
Change in benefit obligation:
Beginning of year balance	$	319	$	312
Service cost	1		1
Interest cost	7		9
Actuarial (gains) losses, net	(8)		17


Foreign exchange rate changes	1		1
Benefits paid	(19)		(21)
End of year balance	$	301	$	319
Change in assets (fair value):
Beginning of year balance	$	310	$	294
Actual return on plan assets	5		35
Employer contribution	—		—
Foreign exchange rate changes	1		2
Benefits paid	(19)		(21)
End of year balance	$	296	$	310
Plan assets less than benefit obligations	$	(6)	$	(10)

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	6	$	7
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(12)		(17)
Net amount recognized	$	(6)	$	(10)

Amounts in accumulated other comprehensive income:
Net actuarial loss	$	(95)	$	(101)
Prior service costs	(6)		(8)
Total pre-tax amounts in accumulated other comprehensive income	$	(101)	$	(109)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The changes recognized in other comprehensive loss were as follows:


	Year Ended December 31,
	2021		2020		2019
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	$	(1)	$	3	$	—
Amortization of actuarial loss, prior service cost and settlements, net of tax	6		5		4
Total amounts recognized in other comprehensive income	$	5	$	8	$	4

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2021 and 2020:


	2021		2020
Discount rate:
U.S.	2.6	%	2.3	%
Canada	2.6	%	2.3	%
Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

Schedule of Expected Benefit Payments [Table Text Block]

The benefits expected to be paid from the benefit plans, which reflect expected future service, are as follows:


Year
2022	$	76
2023	19
2024	16
2025	16
2026	16
2027– 2031	72

Schedule of Net Benefit Costs [Table Text Block]

The following table sets forth the net periodic pension cost for our defined benefit pension plans. The components of our net periodic pension costs consisted of the following:


	Year Ended December 31,
	2021		2020		2019
Service cost	$	1	$	1	$	3
Other components of net periodic pension cost:
Interest cost	7		9		12
Expected return on plan assets	(13)		(14)		(14)
Amortization of prior service cost and net transition asset	1		1		1
Amortization of net actuarial loss	6		6		5
Net periodic pension cost before loss due to settlement	2		2		6
Loss due to settlement	2		—		—
Total net periodic pension cost	$	4	$	2	$	6

Net periodic pension cost included in cost of sales	$	—	$	—	$	2
Net periodic pension cost included in selling, general, and administrative expenses	1		1		1
Net periodic pension cost included in other non-operating items	3		1		3
	$	4	$	2	$	6

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2021, 2020, and 2019:


	2021		2020		2019
Discount rate:
U.S.	2.3	%	3.1	%	4.2	%
Canada	2.3	%	3.0	%	3.8	%

Expected return on plan assets:
U.S.	5.3	%	5.8	%	5.8	%
Canada	2.3	%	3.2	%	3.4	%

Rate of compensation increase:
U.S.	NA		NA		NA
Canada	NA		3.5	%	3.5	%

Schedule of Allocation of Plan Assets [Table Text Block]

The actual and target allocations at the measurement dates are as follows:


	Target Allocation 2021*		Actual Allocation
			2021		2020
Asset category
U.S. Plans
Equity securities	—	%	—	%	41	%
Debt securities	76	%	76	%	38	%
Multi-Strategy Funds	—	%	—	%	20	%

Cash and cash equivalents	24	%	24	%	1	%
Total Allocation for U.S. Plans	100	%	100	%	100	%

Non-U.S. Plans
Debt securities	54	%	22	%	40	%
Multi-Strategy Funds	—	%	59	%	60	%
Cash and cash equivalents	46	%	19	%	—	%
Total Allocation for Non-U.S. Plans	100	%	100	%	100	%

The fair value of our pension plan assets and fair value asset categories and the level of inputs as defined in Note 1 at December 31, 2021, and 2020, are as follows:


	December 31, 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value



Fixed-income investment funds:
Domestic bond funds	180		—		180		—		—
International bond funds	47		—		13		—		34
Multi-strategy funds	—		—		—		—		—
Cash and cash equivalents	68		58		11		—		—
Total	$	296	$	58	$	204	$	—	$	34

	December 31, 2020
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value
Equity investment funds:
Domestic stock funds	$	56	$	56	$	—	$	—	$	—
International stock funds	46		46		—		—		—
Fixed-income investment funds
Domestic bond funds	94		17		—		—		77
International bond funds	64		—		26		—		38
Multi-strategy funds	48		48		—		—		—
Cash and cash equivalents	2		—		2		—		—
Total	$	310	$	167	$	28	$	—	$	115

Schedule of benefit obligation by plan category [Table Text Block]

Benefit obligations by plan category are as follows:


	2021
	U.S.		Canada		Total
Fair value of plan assets	$	237	$	59	$	296
Benefit obligation	247		54		301
Funded Status	$	(11)	$	5	$	(6)

	2020
	U.S.		Canada		Total
Fair value of plan assets	$	246	$	64	$	310
Benefit obligation	262		58		319
Funded Status	$	(16)	$	6	$	(10)

Accumulated Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Other comprehensive income activity, net of tax, is provided in the following table:


	Pension		Translation Adjustments		Other		Total
Balance at December 31, 2018	$	(93)	$	(57)	$	4	$	(146)
Reclassified to income statement, net of taxes1	4		—		(1)		3
Translation adjustments	—		(10)		—		(10)
Balance at December 31, 2019	(89)		(67)		3		(153)
Other comprehensive income before reclassifications, net of taxes	3		—		(2)		1
Reclassified to income statement, net of taxes1	5		—		(3)		2
Translation adjustments	—		(1)		—		(1)
Balance at December 31, 2020	(81)		(68)		(2)		(151)

Reclassified to income statement, net of taxes1	5		—		—		5

Translation adjustments	—		(28)		—		(28)
Balance at December 31, 2021	$	(76)	$	(96)	$	(1)	$	(174)

Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]


	Year Ended December 31,
	2021		2020		2019
NET SALES BY BUSINESS SEGMENT
Siding	$	1,170	$	959	$	917
OSB	2,387		1,220		777
EWP	638		389		396
South America	265		169		159
Other	95		52		66
Intersegment Sales	(3)		(1)		(5)
Total sales	$	4,553	$	2,788	$	2,310


PROFIT BY SEGMENT
Net income	$	1,373	$	497	$	(10)
Add (deduct):
Loss from noncontrolling interest	4		2		5

Income from operations attributed to LP	1,377		499		(5)
Provision for income taxes	426		125		(13)
Depreciation and amortization	119		111		122
Stock-based compensation expense	17		12		9
Loss on impairment attributed to LP	5		15		92
Other operating credits and charges, net	(1)		(4)		1
Product-line discontinuance charges	—		8		—
Pension settlement charges	2		—		—
Interest expense	14		19		19
Investment income	(1)		(4)		(10)
Loss on early debt extinguishment	11		—		—
Other non-operating items	4		—		(6)
Adjusted EBITDA	$	1,972	$	781	$	209
Siding	$	289	$	246	$	169
OSB	1,531		519		10
EWP	95		23		26
South America	113		42		34
Other	(20)		(19)		(3)
Corporate	(36)		(30)		(27)
Adjusted EBITDA	$	1,972	$	781	$	209

	Year Ended December 31,
	2021		2020		2019
Depreciation and Amortization
Siding	$	34	$	32	$	36
OSB	69		65		59
EWP	5		4		16
South America	8		7		9
Other	4		3		3
Non-segment related	—		—		—
Total depreciation and amortization	$	119	$	111	$	123

Capital Expenditures
Siding	$	177	$	34	$	86
OSB	47		25		46
EWP	5		6		6
South America	20		7		7
Other	2		4		14
Non-segment related	4		1		4
Total capital expenditures	$	254	$	77	$	163

Information concerning identifiable assets by segment is as follows:


	December 31,
	2021		2020
Identifiable Assets
Siding	$	705	$	521
OSB	521		511
EWP	121		81
South America	118		106
Other	86		90
Non-segment related	643		778
Total assets	$	2,194	$	2,086

Schedule of Segment Reporting Information, by Geographical Areas [Table Text Block]

Information concerning our geographic segments is as follows:


	Year Ended December 31,
	2021		2020		2019
GEOGRAPHIC LOCATIONS
Total Sales—Point of origin
U.S.	$	3,848	$	2,425	$	1,968
Canada	915		643		653
South America	291		185		178
Intercompany sales	(501)		(465)		(489)
Total Sales	$	4,553	$	2,788	$	2,310
Operating profit (loss)
U.S.	$	1,709	$	608	$	95
Canada	61		50		(17)
South America	106		35		25
Other operating credits and charges, net and loss on impairments of assets	(5)		(20)		(93)
General corporate expense, loss on early debt extinguishment, other income (expense) and interest, net	(72)		(52)		(33)
	1,799		621		(23)
Provision for income taxes	(426)		(125)		13
Income from continuing operations	$	1,373	$	497	$	(10)
Loss attributed to noncontrolling interest	4		2		5
Income from continuing operations attributed to LP	$	1,377	$	499	$	(5)

IDENTIFIABLE TANGIBLE LONG LIVED ASSETS
U.S.	$	419	$	533	$	570
Canada	683		367		390
South America	75		77		74
Total assets	$	1,177	$	977	$	1,034

Summary of Significant Accounting Policies Receivables (Details) $ in Millions	Dec. 31, 2021 USD ($) plant	Dec. 31, 2020 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 172	$ 161
Income Taxes Receivable, Current	1	2
Other Receivables, Gross, Current	20	23
Allowance for Doubtful Other Receivables, Current	(2)	(2)
Receivables, net of allowance for doubtful accounts of $2 million at December 31, 2021, and 2020, respectively	$ 191	$ 184
Number of Plants Operated \| plant	25

Summary of Significant Accounting Policies Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Inventory Adjustments	$ (7)	$ (12)
Logs	59	49
Other raw materials	59	36
Semi-finished inventory	38	28
Finished products	168	146
Total	$ 323	$ 259

Summary of Significant Accounting Policies Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Land and Land Improvements	$ 182	$ 172
Buildings	352	356
Machinery and equipment	2,050	1,971
Construction in progress	202	63
Property, Plant and Equipment, Gross	2,786	2,562
Accumulated depreciation	(1,717)	(1,644)
Property, Plant and Equipment, Net	1,069	918
Timber [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 53	$ 18
Timber [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Timber [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	25 years
Building \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Building \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Land Improvements \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Land Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years

Summary of Significant Accounting Policies Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Asset Impairment Charges	$ (5)	$ (5)
Other
Goodwill [Line Items]
Asset Impairment Charges	$ (5)	$ (5)

Summary of Significant Accounting Policies Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation and amortization included in Selling and administrative	$ 3	$ 3	$ 3
Depreciation and amortization	114	106	118
Cost of Goods and Service Benchmark [Member]
Depreciation and amortization in cost of sales	$ 111	$ 103	$ 115

Summary of Significant Accounting Policies Accounts Payable (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts Payable	$ 191	$ 125
Accrued Salaries, Current	71	62
Accrued Exchange Fee Rebate, Current	45	44
Taxes Payable, Current	12	15
Operating Lease, Liability, Current	7	8
Loss Contingency, Accrual, Current	1	1
Other Accrued Liabilities, Current	11	13
Accounts payable and accrued liabilities	338	268
Unpaid capital expenditures	$ 46	$ 16	$ 15

Summary of Significant Accounting Policies Other long-term liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Other long term liabilities [Abstract]
Asset Retirement Obligation, Current	$ 8,000,000	$ 10,000,000
Unrecognized Tax Benefits	9,000,000	9,000,000
Liability, Retirement and Postemployment Benefits	9,000,000	9,000,000
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	12,000,000	17,000,000
Long-term portion of warranty reserves	6,000,000	6,000,000
Other long term liabilities	61,000,000	35,000,000
Other long-term liabilities	$ 105,000,000	$ 86,000,000

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Consignment inventory	$ 2	$ 7
Accrued rebates	$ 45	$ 44
All Customers [Member] [Member] \| Customer Concentration Risk \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	43.00%	46.00%	42.00%

Revenue Disaggregation of revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 4,553	$ 2,788	$ 2,310
Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	(3)	(1)	(5)
SmartSide Strand siding [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,191	935	816
SmartSide Strand siding [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
OSB - commodity [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,221	631	394
OSB - commodity [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	(1)	(5)
OSB - value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,379	726	528
OSB - value-add [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
LVL [Member]
Disaggregation of Revenue [Line Items]
Net sales	194	141	141
LVL [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
LSL [Member]
Disaggregation of Revenue [Line Items]
Net sales	44	45	50
LSL [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	(3)	0	0
I Joist [Member]
Disaggregation of Revenue [Line Items]
Net sales	309	148	137
I Joist [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	3,117	1,995	1,672
Value-add [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	(3)	0	0
Plywood [Member]
Disaggregation of Revenue [Line Items]
Net sales	48	25	25
Plywood [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other products [Member]
Disaggregation of Revenue [Line Items]
Net sales	166	137	218
Other products [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Commodity Products [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,269	656	419
Commodity Products [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	(1)	(5)
Siding \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,170	959	917
Siding \| SmartSide Strand siding [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,158	915	797
Siding \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	9
Siding \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	1
Siding \| LVL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| LSL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| I Joist [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,158	915	798
Siding \| Plywood [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	12	44	110
Siding \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	9
OSB \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	2,387	1,220	777
OSB \| SmartSide Strand siding [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
OSB \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,221	632	387
OSB \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,152	580	381
OSB \| LVL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
OSB \| LSL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
OSB \| I Joist [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
OSB \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,152	580	381
OSB \| Plywood [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
OSB \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	14	9	9
OSB \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,221	632	387
EWP \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	638	389	396
EWP \| SmartSide Strand siding [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
EWP \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	3
EWP \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	8
EWP \| LVL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	194	141	142
EWP \| LSL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	47	45	50
EWP \| I Joist [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	309	148	137
EWP \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	550	334	337
EWP \| Plywood [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	48	25	25
EWP \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	39	30	31
EWP \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	48	25	28
South America \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	265	169	159
South America \| SmartSide Strand siding [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	33	20	19
South America \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	227	146	138
South America \| LVL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| LSL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| I Joist [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	260	166	156
South America \| Plywood [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	5	3	3
South America \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	95	52	66
Other \| SmartSide Strand siding [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| CanExel siding [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales		14	46
Other \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| LVL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| LSL [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| I Joist [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| Plywood [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Other \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	95	52	66
Other \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

Earnings Per Share (Details) - shares shares in Millions	12 Months Ended
Earnings Per Share (Details) - shares shares in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic	97	111	123
Dilutive effect of employee stock plans	1	1	0
Weighted average number of shares outstanding, diluted	98	112	123
Adjusted weighted average shares	98	112	123
Antidilutive securities excluded from computation of earnings per share (in shares)			1

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 25	$ 30
Asset Impairment Charges	(5)	(5)
Goodwill	19	25
Intangible Assets, Net (Excluding Goodwill)	56	61
Amortization of Intangible Assets	(6)	(5)
Intangible Assets, Net (Excluding Goodwill)	50	56
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 5
Maximum \| Timber [Member]
Goodwill [Line Items]
Property, Plant and Equipment, Useful Life	25 years
Minimum [Member] \| Timber [Member]
Goodwill [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Licensing Agreements [Member]
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	$ 34	38
Amortization of Intangible Assets	(3)	(4)
Intangible Assets, Net (Excluding Goodwill)	31	34
Licensing Agreements [Member] \| CANADA
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	91
Technology-Based Intangible Assets [Member]
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	19	20
Amortization of Intangible Assets	(2)	(1)
Intangible Assets, Net (Excluding Goodwill)	17	19
Trademarks [Member]
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	3	3
Amortization of Intangible Assets	0	0
Intangible Assets, Net (Excluding Goodwill)	2	3
Siding
Goodwill [Line Items]
Goodwill, Beginning Balance	4	4
Asset Impairment Charges	0	0
Goodwill	4	4
OSB
Goodwill [Line Items]
Goodwill, Beginning Balance	16	16
Asset Impairment Charges	0	0
Goodwill	16	16
Other
Goodwill [Line Items]
Goodwill, Beginning Balance	5	10
Asset Impairment Charges	(5)	(5)
Goodwill	0	5
Entreka [Member]
Goodwill [Line Items]
Asset Impairment Charges	$ (5)	(5)
Other Reporting Units
Goodwill [Line Items]
Asset Impairment Charges		$ 0

Investments in and Advances to Affiliates (Details) - USD ($) $ in Millions		12 Months Ended
	Feb. 14, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Revenue from affiliates		$ 58.0	$ 21.0	$ 12.0
Expenses from affiliates		170.0	73.0	70.0
Due from affiliates		5.0	7.0
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Unconsolidated Subsidiaries		5.0	4.0
Income from affiliates, classified in cost of sales		$ (11.0)	$ (4.0)	$ (11.0)
Subsequent Event
Schedule of Investments [Line Items]
Equity Method Investment, Amount Sold, Percentage	50.00%
Proceeds from Sale of Equity Method Investments	$ 50.0
Resolute Forest Products Inc. [Member]
Schedule of Investments [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		50.00%
Resolute Forest Products Inc. [Member] \| Subsequent Event
Schedule of Investments [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Acquisitions (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Proceeds From Sale of Buildings, Cash Received	$ 15
Gain on Acquisition			$ 0	$ 0	$ 14
Proceeds from Sale of Buildings	17
Proceeds from Sale and Collection of Notes Receivable	2
Gain (Loss) on Sale of Properties			2
Property, plant and equipment, net			1,069	918
Inventories			323	259
Net sales			4,553	2,788	2,310
East River Facility and CanExe [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	14
Property, plant and equipment, net	5
Inventories	$ 10
Operating Segments \| Other
Business Acquisition [Line Items]
Net sales			$ 95	52	66
Operating Segments \| CanExel siding [Member] \| Other
Business Acquisition [Line Items]
Net sales				$ 14	$ 46
Entekra [Member]
Business Acquisition [Line Items]
Gain on Acquisition		$ 0

Noncontrolling Interests (Details) - USD ($) $ in Millions	12 Months Ended
Noncontrolling Interests (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Common, Fair Value	$ 4	$ 10	$ 10
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	(3)	(1)
Noncontrolling Interest, Impairment Charge	(1)	(1)
Noncontrolling Interest, Change in Redemption Value	$ 1	$ 2

Income Taxes Tax act (Details)	12 Months Ended
Income Taxes Tax act (Details)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%

Income Taxes Income Statement table (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 1,632	$ 528	$ 18
Foreign	167	93	(41)
Income (loss) from continuing operations before income taxes, extraordinary items, noncontrolling interest	$ 1,799	$ 621	$ (23)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes Income tax provision (benefit) from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal	$ 314	$ 79	$ (5)
State and local	62	17	(1)
Foreign	44	27	(17)
Net current tax provision (benefit)	420	123	(23)
U.S federal	2	(3)	7
State and local	0	8	(1)
Foreign	4	(2)	5
Net valuation allowance increase (decrease)	0	(1)	(1)
Deferred income tax expense (benefit)	6	2	10
Provision (benefit) for income taxes	426	125	(13)
Income Taxes Paid		70	$ 20
Income taxes payable	13	18
Income Taxes Receivable, Current	1	2
Taxes Payable	$ 12	$ 15

Income Taxes Reconciliation of deferred taxes (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Accrued liabilities	$ 20.0	$ 23.0
Pension and post-retirement benefits	4.0	5.0
Share-based compensation	4.0	4.0
Benefit of capital loss and NOL carryovers	7.0	9.0
Other	9.0	12.0
Inventory	8.0	7.0
Deferred Tax Liabilities, Leasing Arrangements	8.0	5.0
Valuation Allowance, Amount	(10.0)	(10.0)
Deferred Tax Assets, Net of Valuation Allowance	50.0	55.0
Deferred Tax Assets, Net	60.0	65.0
Property, plant and equipment	(112.0)	(109.0)
Timber and timberlands	8.0	9.0
Installment sale gain deferral	6.0	7.0
Total Deferred Tax Liabilities	(134.0)	(130.0)
Deferred Tax Liabilities, Net	(84.0)	(75.0)
Long-term deferred tax asset	(2.0)	(3.0)
Long-term deferred tax liability	$ (86.0)	$ (78.0)

Income Taxes NOL and credit carryovers (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 7.0	$ 9.0
Federal NOL carryover valuation allowance	(6.0)
Federal NOL carryover	7.0
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Domestic Subsidiaries	23.0
State Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Federal NOL carryover valuation allowance	0.0
Federal NOL carryover	1.0
Canadian Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	(6.0)
Federal NOL carryover	$ 6.0

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income from continuing operations before income taxes, including equity in unconsolidated affiliates	$ 1,799	$ 621	$ (23)
Undistributed Earnings of Foreign Subsidiaries	$ 184
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. Federal tax rate	21.00%	21.00%	21.00%
State and local income taxes	3.00%	3.00%	11.00%
Tax credits	0.00%	1.00%	(8.00%)
Noncontrolling interest	0.00%	0.00%	(4.00%)
Stock-based compensation	0.00%	0.00%	5.00%
Effective Income Tax Rate Reconciliation, capital gain tax rate differential	0.00%	0.00%	(5.00%)
Effective income tax rate reconciliation, inflationary adjustment	0.00%	0.00%	(5.00%)
Valuation allowance	0.00%	0.00%	8.00%
Uncertain tax positions	0.00%	(4.00%)	(7.00%)
Other, net	(1.00%)	0.00%	1.00%
Effective tax rate (%)	24.00%	20.00%	58.00%
Foreign tax rate
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effect of foreign tax rates / foreign exhchange	1.00%	1.00%	9.00%
Foreign Currency Gain (Loss)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effect of foreign tax rates / foreign exhchange	0.00%	0.00%	(4.00%)

Income Taxes Uncertain tax positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized Tax Benefits	$ 9	$ 11	$ 38	$ 41
Tax positions taken in current year	1	1	1
Tax positions taken in prior years	0	1	0
Settlements during the year	0	0	(4)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	3	29	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Paid	0	$ 0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 9

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 5
Operating Lease, Weighted Average Discount Rate, Percent	4.00%
Operating Lease, Cost	$ 11	$ 12
Operating lease assets	52	40
Leases of Lessee Disclosure [Text Block]	52	40
Operating Lease, Liability, Current	7	8
Non-current operating lease liabilities	44	32
Total lease liabilities	51	40
Operating Lease, Payments	8	9
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 18	$ 4
Operating Lease, Weighted Average Remaining Lease Term	12 years
Lessee, Operating Lease, Liability, Payments, Due Year Two	$ 7
Lessee, Operating Lease, Liability, Payments, Due Year Three	6
Lessee, Operating Lease, Liability, Payments, Due Year Four	5
Lessee, Operating Lease, Liability, Payments, Due Year Five	5
Lessee, Operating Lease, Liability, Payments, Due after Year Five	39
Lessee, Operating Lease, Liability, Payments, Due	66
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(15)
Operating Lease, Liability	$ 51
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities

Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Notes and Loans Payable [Abstract]
Long-term Debt, Gross	$ 350			$ 351
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	(4)			(2)
Long-term debt	346			348
Long-term Debt and Lease Obligation	350
Current portion of long-term debt	0			0
Long term debt, Gross, Noncurrent	350			351
Long-term debt, excluding current portion	346			348
Senior unsecured notes, maturing 2024
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 350
Notes and Loans Payable [Abstract]
Debt, interest rate, stated percentage	4.875%
Long-term Debt, Gross	$ 0			350
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	0			(2)
Long-term debt	$ 0			348
Senior Notes \| Senior unsecured notes, maturing 2029
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 350
Notes and Loans Payable [Abstract]
Debt, interest rate, stated percentage	3.625%		3.625%
Long-term Debt, Gross	$ 350			0
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	(4)			0
Long-term debt	346			0
Other Debt Obligations [Member]
Notes and Loans Payable [Abstract]
Long-term Debt, Gross	0			1
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net		$ 0		0
Long-term debt	0			1
Revolving Credit Facility
Notes and Loans Payable [Abstract]
Long-term Debt, Gross	0			0
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	0			0
Long-term debt	$ 0			$ 0

Long-term Debt Narrative (Details) - USD ($)	1 Months Ended			12 Months Ended
Long-term Debt Narrative (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2016	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Amortization of financing costs and discounts				$ 2,000,000	$ 2,000,000	$ 2,000,000
Long-term Debt, Gross				$ 350,000,000	$ 351,000,000
Debt, weighted average interest rate				3.60%	4.90%
Write off of deferred debt issuance cost				$ 2,000,000
Payments of debt issuance costs				4,000,000
Redemption Premium				9,000,000
Senior unsecured notes, maturing 2024
Debt Instrument [Line Items]
Fair value of debt				358,000,000	$ 360,000,000
Amount of loan issuance				350,000,000
Long-term Debt, Gross				$ 0	350,000,000
Debt, interest rate, stated percentage				4.875%
Debt Instrument, Redemption Price, Percentage			102.438%
Senior unsecured notes, maturing 2029 \| Senior Notes
Debt Instrument [Line Items]
Amount of loan issuance	$ 350,000,000
Long-term Debt, Gross				$ 350,000,000	$ 0
Debt, interest rate, stated percentage	3.625%			3.625%
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Repurchase Price, Percentage	101.00%
Debt Instrument, Debt Default, Principal Amount Due, Percentage	25.00%
Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 550,000,000
Long-term Line of Credit				$ 0
Debt Instrument, Covenant Terms, Capitalization Percentage				57.50%
Amended Credit Facility \| Revolving Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 60,000,000
Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 20,000,000
Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage				0.20%
Minimum \| Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Fee, Percentage		0.50%
Maximum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, commitment fee percentage				0.425%
Maximum \| Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Fee, Percentage		1.875%
Base Rate \| Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.50%
Base Rate \| Maximum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.50%
London Interbank Offered Rate (LIBOR) \| Minimum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.50%
London Interbank Offered Rate (LIBOR) \| Maximum \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				2.50%
Federal Funds Rate \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.50%
One-Month LIBOR \| Amended Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%

Long-term Debt Long-term Debt Required repayment of Principal (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
2022	$ 0
2023	0
2024	0
2025	0
2026	0
2027 and after	350
Total	$ 350	$ 351

Stockholders' Equity Preferred stock (Details)	Dec. 31, 2021 $ / shares shares
Class of Stock [Line Items]
Preferred Stock, Shares Authorized \| shares	15,000,000
Preferred Stock, Par or Stated Value Per Share \| $ / shares	$ 1

Common Stock Plan (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	$ 17	$ 12	$ 9
Income tax benefit related to stock-based compensation	3	2	1
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$ (7)	$ (5)	$ (5)
Options and SSARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3
Stock Appreciation Rights (SARs)
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs) \| Share-based Payment Arrangement, Nonemployee
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock Units (RSUs) \| Share-based Payment Arrangement, Employee
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares \| Share-based Payment Arrangement, Employee
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

SSARs (Details) - USD ($) $ in Millions	12 Months Ended
SSARs (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 8.0	$ 8.0	$ 13.0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Restricted Stock Units (RSUs) \| Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

Summary of Stock Awards Oustanding (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 20.0	$ 13.0	$ 11.0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Options and Ssars [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	239,329	387,541
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 16.93	$ 15.56
Options / SSARs granted	0
Options / SSARs exercised	(148,212)
Options / SSARs cancelled	0
Options/ SSARs forfeited	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 16.93
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 0
Options / SSARs exercisable	239,329
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	239,329
SSARs granted Weighted Average Exercise Price	$ 0
Options / SSARs cancelled Weighted Average Exercise Price	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price	$ 16.93
Unrecognized stock compensation	$ 0.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 13.36
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	0 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options / SSARs exercised	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Awards Other than Options, Vested and Expected to Vest, Outstanding, Number	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Awards Other than Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 36.39
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,087,994	1,228,330
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 36.39	$ 27.42
Share-based Payment Arrangement, Option, Exercise Price Range, Shares Exercisable	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	538,287
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 47.57
Options / SSARs cancelled Weighted Average Exercise Price	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(429,590)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 27.97
Unrecognized stock compensation	$ 27.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(249,033)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 32.51
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	9 months 18 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	149,000
Performance Shares \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SSARs granted Weighted Average Exercise Price	$ 56.35
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SSARs granted Weighted Average Exercise Price	$ 64.12

Stockholders' Equity Share Repurchase Programs (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares shares
Equity [Abstract]
Share repurchase program, open market \| shares	21
Share repurchase program, open market, average price per share \| $ / shares	$ 61.52
Share repurchase program, remaining authorized repurchase amount \| $	$ 500

Stockholders' Equity ESPP (Details) shares in Millions	12 Months Ended
Stockholders' Equity ESPP (Details) shares in Millions	Dec. 31, 2021 shares
Equity [Abstract]
Shares available for grant, Employee Stock Purchase Plan	2,000,000
ESPP Purchase Period	6 months

Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Nov. 02, 2021	May 04, 2021	Nov. 04, 2020	Feb. 06, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, open market	21
Share repurchase program, open market, average price per share	$ 61.52
Share repurchase program, remaining authorized repurchase amount	$ 500
2020 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 200
2020 Share Repurchase Program Expansion
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 300
First 2021 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount			$ 1,000
Second 2021 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount		$ 500

Other Operating Credits and Charges, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gain Contingencies [Line Items]
Reorganization charges	$ (1)	$ (5)	$ (12)
Reorganization Value, Net Realizable Value of Asset Dispositions	0	(8)	0
Insurance and environmental recoveries	(4)	(3)	(9)
Adjustment to product related warranty reserves	0	0	4
Other Income	2	3	(2)
Other operating credits and charges, net	1	(4)	(1)
Canadian wage subsidies	0	9	0
Proceeds from Insurance Settlement, Operating Activities	$ 3	$ 0	$ 0

Other Operating Credits and Charges, Net Non-Operating Income and Expense (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Expense		$ 15.0	$ 17.0	$ 18.0
Amortization of financing costs and discounts		2.0	2.0	2.0
Interest Costs Capitalized Adjustment		3.0	0.0	1.0
Interest expense, net of capitalized interest		(14.0)	(19.0)	(19.0)
Investment Income, Interest and Dividend		1.0	2.0	9.0
Realized Investment Gains (Losses)		0.0	3.0	0.0
Interest Income, Other		0.0	(1.0)	1.0
Investment income		1.0	4.0	10.0
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component		1.0	1.0	3.0
Foreign Currency Transaction Gain (Loss), Realized		(3.0)	1.0	(5.0)
Loss on early debt extinguishment		(11.0)	0.0	0.0
Loss due to settlement		(2.0)	0.0	0.0
Gain on Acquisition		0.0	0.0	14.0
Other nonoperating items		(16.0)	$ 0.0	$ 6.0
Redemption Premium		9.0
Write off of deferred debt issuance cost		$ 2.0
Entekra [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gain on Acquisition	$ 0.0

IMPAIRMENT OF LONG-LIVED ASSETS (Details) $ in Millions	12 Months Ended
IMPAIRMENT OF LONG-LIVED ASSETS (Details) $ in Millions	Dec. 31, 2020 USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ (9.0)
Nonoperating Assets in Canada, Minnesota and Texas [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	47.0
EWP Facility Producing LSL and OSB [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	39.0
Siding Facility Expected To Sell [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 5.0

Committments and Contingent Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 25	$ 14
Loss Contingency Accrual, Period Increase (Decrease)	(6)	(2)
Loss Contingency, Accrual, Current	1	1
Loss Contingency, Accrual, Noncurrent	24	13
Indemnity for liabilities other than environmental	15
Indemnities for liabilities arising out of pre-closing operations	5
SEC Schedule, 12-09, Reserve, Environmental Cost [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	25	13	$ 10
Loss Contingency Accrual, Period Increase (Decrease)	(7)	(2)
Payments for Environmental Liabilities	1	1
Hardboard Siding Reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	0	0
Environmental Reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 25	$ 14

Product Warranty (Details) - USD ($) $ in Millions	12 Months Ended
Product Warranty (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 8	$ 8
Accrued to expense during the year	1	2
Payments made	(2)	(2)
Ending Balance	7	8
Current portion of warranty reserves	(2)	(2)
Long-term portion of warranty reserves	$ 6	$ 6

Retirement Plans and Post Retirement Benefits Defined Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Maximum benefit amortization period	20 years
Approximate percentage of assets represented by most significant plans	80.00%
Approximate percentage of benefit obligations represented by most significant plans	82.00%
Rate of eligible compensation increase	3.00%
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment and Tax	$ (1)	$ 3	$ 0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	$ 6	$ 5	$ 4

Retirement Plans and Post Retirement Benefits Funded Status, Assumptions Used in Benefit Obligations and Amounts Recognized in Balance Sheets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	$ 319	$ 312
Service cost	1	1	$ 3
Interest cost	7	9	12
Actuarial (gain)/loss	(8)	17
Foreign exchange rate changes	1	1
Benefits Paid	19	21
End of year balance	301	319	312
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	310	294
Actual return on plan assets	5	35
Employer contribution	0	0
Foreign exchange rate changes	1	2
Fair value of plan assets, end of year balance	296	310	294
Funded status	(6)	(10)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	(95)	(101)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax	(6)	(8)
Total	(101)	(109)
Amounts Recognized in Balance Sheet [Abstract]
Noncurrent pension assets, included in “Other assets”	6	7
Current pension liabilities, included in “Accounts payable and accrued liabilities”	0	0
Noncurrent pension liabilities, included in “Other long-term liabilities”	(12)	(17)
Benefits Expected to be Paid from Benefit Plans [Abstract]
2022	76
2023	19
2024	16
2025	16
2026	16
2027– 2031	72
Defined Benefit Plan, Plan Assets, Benefits Paid	19	21
Other comprehensive income before reclassifications, net of taxes	(5)	(8)	(4)
Amortization of amounts included in net periodic benefit cost	5	2	3
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment and Tax	(1)	3	0
Multi-strategy Funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	48
Fair value of plan assets, end of year balance	0	48
Domestic stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	56
Fair value of plan assets, end of year balance		56
International stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	46
Fair value of plan assets, end of year balance		46
Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	94
Fair value of plan assets, end of year balance	180	94
Significant Unobservable Inputs (Level 3)
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance	0	0
Significant Unobservable Inputs (Level 3) \| Multi-strategy Funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance	0	0
Significant Unobservable Inputs (Level 3) \| Domestic stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance		0
Significant Unobservable Inputs (Level 3) \| International stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance		0
Significant Unobservable Inputs (Level 3) \| Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance	0	0
Fair Value, Inputs, Level 1 [Member]
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	167
Fair value of plan assets, end of year balance	58	167
Fair Value, Inputs, Level 1 [Member] \| Multi-strategy Funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	48
Fair value of plan assets, end of year balance	0	48
Fair Value, Inputs, Level 1 [Member] \| Domestic stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	56
Fair value of plan assets, end of year balance		56
Fair Value, Inputs, Level 1 [Member] \| International stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	46
Fair value of plan assets, end of year balance		46
Fair Value, Inputs, Level 1 [Member] \| Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	17
Fair value of plan assets, end of year balance	0	17
Fair Value, Inputs, Level 2
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	28
Fair value of plan assets, end of year balance	204	28
Fair Value, Inputs, Level 2 \| Multi-strategy Funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance	0	0
Fair Value, Inputs, Level 2 \| Domestic stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance		0
Fair Value, Inputs, Level 2 \| International stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance		0
Fair Value, Inputs, Level 2 \| Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	0
Fair value of plan assets, end of year balance	180	0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Change in Benefit Obligation [Roll Forward]
Foreign exchange rate changes		0
Change in Assets (Fair Value) [Roll Forward]
Total	101
Benefits Expected to be Paid from Benefit Plans [Abstract]
Amortization of amounts included in net periodic benefit cost	5	5	$ 4
Defined Benefit, US Plans [Member]
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	262
End of year balance	247	262
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	246
Fair value of plan assets, end of year balance	237	246
Funded status	$ (11)	$ (16)
Weighted average assumptions for obligations as of measurement date [Abstract]
Discount rate	2.60%	2.30%
Defined Benefit, Canadian Plans [Member]
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	$ 58
End of year balance	54	$ 58
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	64
Fair value of plan assets, end of year balance	59	64
Funded status	$ 5	$ 6
Weighted average assumptions for obligations as of measurement date [Abstract]
Discount rate	2.60%	2.30%

Retirement Plans and Post Retirement Benefits Pension Costs, Assumptions Used in Net Periodic Costs and Expected Contributions and Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 1	$ 1	$ 3
Interest cost	7	9	12
Expected return on plan assets	(13)	(14)	(14)
Amortization of prior service cost	1	1	1
Amortization of net actuarial loss	6	6	5
Net periodic pension cost before settlement	2	2	6
Loss due to settlement	2	0	0
Net periodic pension cost	4	2	6
Net periodic pension cost included in cost of sales	0	0	2
Net periodic pension cost included in selling, general, and administrative expenses	1	1	1
Net periodic pension cost included in other non-operating items	$ 3	$ 1	$ 3
Defined Benefit, Canadian Plans [Member]
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.30%	3.00%	3.80%
Expected return on plan assets	2.30%	3.20%	3.40%
Rate of compensation increase		3.50%	3.50%
Defined Benefit, US Plans [Member]
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.30%	3.10%	4.20%
Expected return on plan assets	5.30%	5.80%	5.80%

Retirement Plans and Post Retirement Benefits Defined Contribution Plans and Other Benefit Plans (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plans [Abstract]
Expenses related to defined contribution plans and multiemployer plan	$ 22.0	$ 16.0	$ 10.0
Deferred Compensation Arrangements [Abstract]
Funded status	$ (6.0)	(10.0)
Deferred compensation plan maximum deferral percentage	90.00%
Deferred compensation plan, employer contributions and related earnings, maximum vesting period	5 years
Deferred compensation liability included in "Other long-term liabilities"	$ (2.0)	$ (2.0)
US Defined Contribution Plan [Member]
Defined Contribution Plans [Abstract]
Maximum percentage of employee's wages eligible for company match	5.00%
Shares of LP common stock included in plan assets	1,000,000
Total market value of plan assets represented by LP common stock	9.00%
Canadian Defined Contribution Plan [Member]
Defined Contribution Plans [Abstract]
Maximum percentage of employee's wages eligible for company match	3.00%
Percentage of base contribution	3.00%
Employer matching percentage	50.00%
UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100.00%
Defined Benefit Plan, Actual Plan Asset Allocation	100.00%	100.00%
UNITED STATES \| Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Defined Benefit Plan, Actual Plan Asset Allocation	0.00%	41.00%
UNITED STATES \| Debt Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	76.00%
Defined Benefit Plan, Actual Plan Asset Allocation	76.00%	38.00%
UNITED STATES \| Multi-strategy Funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Defined Benefit Plan, Actual Plan Asset Allocation	0.00%	20.00%
UNITED STATES \| Cash and Cash Equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	24.00%
Defined Benefit Plan, Actual Plan Asset Allocation	24.00%	1.00%
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100.00%
Defined Benefit Plan, Actual Plan Asset Allocation	100.00%	100.00%
Foreign Plan \| Debt Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	54.00%
Defined Benefit Plan, Actual Plan Asset Allocation	22.00%	40.00%
Foreign Plan \| Multi-strategy Funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Defined Benefit Plan, Actual Plan Asset Allocation	59.00%	60.00%
Foreign Plan \| Cash and Cash Equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	46.00%
Defined Benefit Plan, Actual Plan Asset Allocation	19.00%	0.00%
Other Postretirement Benefits Plan [Member]
Deferred Compensation Arrangements [Abstract]
Funded status	$ 10.0

Accumulated Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	$ 2	$ 2	$ 1
Accumulated comprehensive loss, net of tax, beginning of period	(174)	(151)	(153)	$ (146)
Amortization of amounts included in net periodic benefit cost	5	2	3
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	(1)	(1)
Other comprehensive income before reclassifications, net of taxes	(28)	1	(10)
Accumulated comprehensive loss, net of tax, end of period	(174)	(151)	(153)	(146)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	(76)	(81)	(89)	(93)
Amortization of amounts included in net periodic benefit cost	5	5	4
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)		0
Other comprehensive income before reclassifications, net of taxes	0	3	0
Accumulated comprehensive loss, net of tax, end of period	(76)	(81)	(89)	(93)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	(96)	(68)	(67)	(57)
Amortization of amounts included in net periodic benefit cost	0	0	0
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)		1
Other comprehensive income before reclassifications, net of taxes	(28)	0	(10)
Accumulated comprehensive loss, net of tax, end of period	(96)	(68)	(67)	(57)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	(1)	(2)	3	4
Amortization of amounts included in net periodic benefit cost	0	(3)	(1)
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)		0
Other comprehensive income before reclassifications, net of taxes	0	(2)	0
Accumulated comprehensive loss, net of tax, end of period	$ (1)	$ (2)	$ 3	$ 4

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Selected Segment Data (Details) - USD ($) $ in Millions	12 Months Ended
Selected Segment Data (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 4,553	$ 2,788	$ 2,310
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	1,373	497	(10)
Net loss attributed to noncontrolling interest	4	2	5
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	1,377	499	(5)
Provision for income taxes	426	125	(13)
Depreciation and amortization	119	111	122
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	17	12	9
Impairment of long-lived assets	5	15	92
Other operating credits and charges, net	1	(4)	(1)
Interest Expense, net	14	19	19
Investment Income, Nonoperating	(1)	(4)	(10)
Other nonoperating items	4	0	(6)
Adjusted EBITDA	1,972	781	209
Depreciation and amortization	119	111	123
Capital Expenditures	254	77	163
Reorganization Value, Net Realizable Value of Asset Dispositions	0	8	0
Loss due to settlement	2	0	0
Intersegment sales
Segment Reporting Information [Line Items]
Net sales	(3)	(1)	(5)
Non-segment related
Segment Reporting Information [Line Items]
Depreciation and amortization	0	0	0
Capital Expenditures	4	1	4
Siding \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,170	959	917
Adjusted EBITDA	289	246	169
Depreciation and amortization	34	65	59
Capital Expenditures	177	34	86
OSB \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,387	1,220	777
Adjusted EBITDA	1,531	519	10
Depreciation and amortization	69	32	36
Capital Expenditures	47	25	46
EWP \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	638	389	396
Adjusted EBITDA	95	23	26
Depreciation and amortization	5	4	16
Capital Expenditures	5	6	6
South America \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	265	169	159
Adjusted EBITDA	113	42	34
Depreciation and amortization	8	7	9
Capital Expenditures	20	7	7
Other \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	95	52	66
Adjusted EBITDA	(20)	(19)	(3)
Depreciation and amortization	4	3	3
Capital Expenditures	2	4	14
Corporate Segment \| Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (36)	$ (30)	$ (27)

Segment Information Identifiable assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets	$ 2,194	$ 2,086
Non-segment related
Assets	643	778
OSB \| Operating Segments
Assets	521	511
Siding \| Operating Segments
Assets	705	521
EWP \| Operating Segments
Assets	121	81
South America \| Operating Segments
Assets	118	106
Other \| Operating Segments
Assets	$ 86	$ 90

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Segment Information Geographic Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	$ 4,553	$ 2,788	$ 2,310
Operating Income (Loss)	1,824	636	(20)
Other operating credits and charges, net and loss on impairments of assets	(5)	(20)	(93)
General corporate expense, loss on early debt extinguishment, other income (expense) and interest, net	(72)	(52)	(33)
Income (loss) from continuing operations before income taxes, extraordinary items, noncontrolling interest	1,799	621	(23)
Provision for income taxes	(426)	(125)	13
Income from continuing operations	1,373	497	(10)
Net Income (Loss) Attributable to Noncontrolling Interest	(4)	(2)	(5)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	1,377	499	(5)
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	1,177	977	1,034
Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	(3)	(1)	(5)
UNITED STATES
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	3,848	2,425	1,968
Operating Income (Loss)	1,709	608	95
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	419	533	570
CANADA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	915	643	653
Operating Income (Loss)	61	50	(17)
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	683	367	390
South America
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	291	185	178
Operating Income (Loss)	106	35	25
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	75	77	74
Intersegment sales \| Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	$ (501)	$ (465)	$ (489)

Subsequent Events (Details) - USD ($) $ in Millions	Feb. 14, 2022	Dec. 31, 2021
Subsequent Event
Subsequent Event [Line Items]
Proceeds from Sale of Equity Method Investments	$ 50
Resolute Forest Products Inc. [Member]
Subsequent Event [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		50.00%
Resolute Forest Products Inc. [Member] \| Subsequent Event
Subsequent Event [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%

Label	Element	Value
Asset Retirement Obligation, Liabilities Settled	us-gaap_AssetRetirementObligationLiabilitiesSettled	$ 0
Asset Retirement Obligation, Liabilities Settled	us-gaap_AssetRetirementObligationLiabilitiesSettled	$ 1,000,000
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 0.16
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 0.18
Accretion Expense, Including Asset Retirement Obligations	us-gaap_AccretionExpenseIncludingAssetRetirementObligations	$ 1,000,000
Accretion Expense, Including Asset Retirement Obligations	us-gaap_AccretionExpenseIncludingAssetRetirementObligations	1,000,000
Asset Retirement Obligation, Adjustments To Accretion Expense	lpx_AssetRetirementObligationAdjustmentsToAccretionExpense	(2,000,000)
Asset Retirement Obligation, Adjustments To Accretion Expense	lpx_AssetRetirementObligationAdjustmentsToAccretionExpense	(1,000,000)
Asset Retirement Obligation	us-gaap_AssetRetirementObligation	10,000,000
Asset Retirement Obligation	us-gaap_AssetRetirementObligation	11,000,000
Asset Retirement Obligation	us-gaap_AssetRetirementObligation	8,000,000
Advertising Expense	us-gaap_AdvertisingExpense	24,000,000
Advertising Expense	us-gaap_AdvertisingExpense	20,000,000
Advertising Expense	us-gaap_AdvertisingExpense	$ 28,000,000

Retirement Plans and Post Retirement Benefits Asset Allocation and Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 296	$ 310	$ 294
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	58	167
Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	34	115
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	204	28
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Domestic stock funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		56
Domestic stock funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		56
Domestic stock funds \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
Domestic stock funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
Domestic stock funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
International stock funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		46
International stock funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		46
International stock funds \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
International stock funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
International stock funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0
Domestic bond funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	180	94
Domestic bond funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	17
Domestic bond funds \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	77
Domestic bond funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	180	0
Domestic bond funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
International bond funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	47	64
International bond funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
International bond funds \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	34	38
International bond funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	13	26
International bond funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Multi-strategy Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	48
Multi-strategy Funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	48
Multi-strategy Funds \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Multi-strategy Funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Multi-strategy Funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	68	2
Cash and Cash Equivalents \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	58	0
Cash and Cash Equivalents \| Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Cash and Cash Equivalents \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	11	2
Cash and Cash Equivalents \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 0	$ 0