0001628280-23-004259 | 10-K | XBRL Viewer

Print Document View Excel Document

Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Dec. 31, 2022	Feb. 20, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-7107
Entity Registrant Name	LOUISIANA-PACIFIC CORPORATION
Entity Central Index Key	0000060519
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	93-0609074
Entity Address, Address Line One	1610 West End Ave.
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Nashville
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37203
City Area Code	(615)
Local Phone Number	986 - 5600
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	LPX
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,512,736,855
Entity Common Stock, Shares Outstanding		71,774,490
Documents Incorporated by Reference	Certain portions of the registrant's Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders (which is expected to be filed with the Securities and Exchange Commission within 120 days after the end of the registrant's 2022 fiscal year) are incorporated by reference into Part III by this annual report on Form 10-K.
ICFR Auditor Attestation Flag	true
Auditor Name	Deloitte & Touche LLP
Auditor Location	Nashville, Tennessee
Auditor Firm ID	34

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Nashville, Tennessee
Auditor Firm ID	34

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 3,854.0	$ 3,915.0	$ 2,399.0
Operating costs and expenses:
Cost of sales	(2,355.0)	(1,952.0)	(1,566.0)
Gross Profit	1,498.0	1,963.0	833.0
Selling, general, and administrative expenses	(264.0)	(223.0)	(195.0)
Loss on impairments	(1.0)	(6.0)	(16.0)
Other operating credits and charges, net	16.0	1.0	(7.0)
Income from operations	1,250.0	1,734.0	615.0
Non-operating income (expense):
Interest (expense) income	11.0	14.0	19.0
Investment Income, Net	14.0	1.0	4.0
Other nonoperating items	(97.0)	(22.0)	4.0
Income before income taxes	1,155.0	1,700.0	604.0
Provision for income taxes	(274.0)	(402.0)	(121.0)
Equity in unconsolidated affiliate	4.0	4.0	1.0
Income from continuing operations	885.0	1,302.0	484.0
Closed Block Operations, Income (Loss) from Discontinued Operations, Net of Tax	198.0	71.0	12.0
Net income	1,083.0	1,373.0	497.0
Net loss attributed to noncontrolling interest	3.0	4.0	2.0
Net income attributed to LP	$ 1,086.0	$ 1,377.0	$ 499.0
Basic net income (loss) per share:
Net income per share - diluted	$ 13.94	$ 14.19	$ 4.48
Diluted net earnings (loss) per share:
Net income per share - diluted	$ 13.87	$ 14.09	$ 4.46
Weighted average number of shares outstanding - basic	78	97	111
Weighted average number of shares outstanding, diluted	78	98	112

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 369.0	$ 358.0
Allowance for doubtful accounts receivable	(1.0)
Receivables, net of allowance for doubtful accounts of $1 million at December 31, 2022, and 2021, respectively	127.0	169.0
Inventories	337.0	278.0
Prepaid expenses and other current assets	20.0	17.0
Disposal Group, Including Discontinued Operation, Assets, Current	0.0	68.0
Total current assets	854.0	890.0
Timber and timberlands	40.0	42.0
Property, plant and equipment, net	1,326.0	1,039.0
Operating lease assets	44.0	50.0
Goodwill and other intangible assets	36.0	39.0
Investments in and advances to affiliates	6.0	7.0
Restricted cash	14.0	13.0
Other assets	24.0	25.0
Deferred tax asset	7.0	2.0
Long-term assets of discontinued operations	0.0	87.0
Total assets	2,350.0	2,194.0
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	317.0	304.0
Income taxes payable	19.0	13.0
Current portion of contingency reserves	1.0	1.0
Current liabilities of discontinued operations	0.0	34.0
Total current liabilities	336.0	351.0
Long-term debt, excluding current portion	346.0	346.0
Deferred income taxes	113.0	86.0
Non-current operating lease liabilities	41.0	44.0
Contingency reserves, excluding current portion	26.0	24.0
Other long-term liabilities	53.0	63.0
Long term liabilities of discontinued operations	0.0	42.0
Liabilities	916.0	955.0
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$ 0.0	$ 4.0
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	71,748,200
Common Stock, Shares, Issued	87,986,865	85,636,154
Common Stock, Shares Authorized	200,000,000	102,415,883
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; 87,986,865 shares issued, and 71,748,200 shares issued and outstanding, respectively, as of December 31, 2022; 102,415,883 shares issued and 85,636,154 shares issued and outstanding, respectively, as of December 31, 2021	88.0	102.0
Additional paid-in capital	462.0	458.0
Retained earnings	$ 1,371.0	$ 1,239.0
Treasury Stock, Shares	16,238,665	16,779,729
Treasury stock, 16,238,665 shares and 16,779,729 shares, at cost as of December 31, 2022, and 2021, respectively	$ (388.0)	$ (390.0)
Accumulated comprehensive loss	(99.0)	(174.0)
Total stockholders' equity	1,433.0	1,235.0
Total liabilities and stockholders' equity	$ 2,350.0	$ 2,194.0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 1
Common Stock, Par or Stated Value Per Share	$ 1
Common Stock, Shares Authorized	200,000,000	102,415,883
Common Stock, Shares, Issued	87,986,865	85,636,154
Common Stock, Shares, Outstanding	71,748,200
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Shares Authorized	15,000,000
Treasury Stock, Shares	16,238,665	16,779,729

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 1,083	$ 1,373	$ 497
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	2	(28)	(1)
Unrealized Gain on Securities	0	0	(3)
Total amounts recognized in other comprehensive income	(71)	(5)	(8)
Other	1	0	(2)
Other comprehensive income (loss), net of tax	75	(23)	2
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	1,158	1,350	499
Net loss attributed to noncontrolling interest	3	4	2
Comprehensive income	$ 1,161	$ 1,354	$ 501

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,083	$ 1,373	$ 497
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	129	114	107
Impairment of long-lived assets	1	6	16
Gain on Acquisition	(157)	0	0
Loss on early debt extinguishment	0	11	0
Deferred taxes	1	7	2
Other adjustments, net	33	11	18
Receivables	22	(14)	(53)
Inventories	(66)	(71)	(12)
Prepaid expenses and other current assets	(7)	0	(4)
Accounts payable and accrued liabilities	15	46	30
Income taxes payable, net of receivables	6	(5)	54
Net cash provided by operating activities	1,144	1,484	659
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(412)	(250)	(71)
Proceeds from divestiture of businesses	268	0	15
Cash Surrender Value of Life Insurance	0	0	10
Other investing activities, net	0	5	3
Net cash provided by (used in) investing activities	(146)	(247)	(49)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long term debt	0	(359)	(350)
Proceeds from Debt, Maturing in More than Three Months	0	350	350
Payment of cash dividends	(69)	(66)	(65)
Purchase of stock	(900)	(1,300)	(200)
Other financing activities, net	(13)	(13)	(7)
Net cash used in financing activities	(982)	(1,388)	(272)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(5)	(14)	2
Net increase (decrease) in cash, cash equivalents, and restricted cash	12	(164)	340
Cash, cash equivalents, and restricted cash at the beginning of the year	371	535	195
Cash, cash equivalents, and restricted cash at the end of the year	383	371	535
Supplemental Cash Flow Information [Abstract]
Cash paid for income taxes, net	(320)	(421)	(70)
Tax authority deposit applied to income taxes	0	0	(32)
Cash paid for interest, net	(14)	(16)	(18)
Unpaid capital expenditures	48	46	16
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	82	2	0
Depreciation and amortization	129	114	107
Capital Expenditures	412	250	71
Continued and discontinued operations
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	132	119	111
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, plant, and equipment additions	(414)	(254)	(77)
Depreciation and amortization	132	119	111
Capital Expenditures	$ 414	$ 254	$ 77

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, 2019	$ 991.0	$ 130.0	$ (406.0)	$ 454.0	$ 966.0	$ (153.0)
Balance, Beginning, Shares at Dec. 31, 2019		130,000,000	18,000,000
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
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		102,000,000	17,000,000
Balance, Ending at Dec. 31, 2021	1,235.0	$ 102.0	$ (390.0)	458.0	1,239.0	(174.0)
Treasury Stock, Value	390.0
Net income	1,086.0
Payment of cash dividends	(69.0)				(69.0)
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	(13.0)		$ (2.0)	(15.0)
Common stock, Shares acquired		(14,000,000)
Common stock, Value, Shares acquired		$ (14.0)
Treasury Stock, Shares, Acquired			0
Treasury Stock, Value, Acquired, Cost Method	(900.0)		$ 0.0
Stock Repurchased and Retired During Period, Value					(886.0)
Compensation expense associated with stock awards	19.0			19.0
Noncontrolling Interest, Change in Redemption Value	0.0
Other comprehensive loss	$ 75.0					75.0
Balance, Ending, Shares at Dec. 31, 2022	71,748,200	88,000,000	16,000,000
Balance, Ending at Dec. 31, 2022	$ 1,433.0	$ 88.0		$ 462.0	$ 1,371.0	$ (99.0)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.22
Treasury Stock, Value	$ 388.0		$ 388.0

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

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 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. The Company operates 22 plants across the U.S., Canada, Chile, and Brazil, through foreign subsidiaries, and operates additional facilities through a joint venture. References to "LP," the "Company," "we," "our," and "us" refer to Louisiana-Pacific Corporation and its consolidated subsidiaries as a whole.

During the year ended December 31, 2022, we sold our 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc., and we sold the remaining assets related to the EWP segment. Accordingly, we have classified the related assets and liabilities associated with the EWP segment as discontinued operations in our Consolidated Balance Sheets. The results of our EWP segment have been presented as discontinued operations in our Consolidated Statements of Income for all periods presented. See Note 6 –Discontinued Operations for additional information.

See Note 18 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.

Reclassifications

In addition to the classification of the EWP segment as discontinued operations, we have made certain immaterial reclassifications to prior period presentation in order to conform to the current year presentation.

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 (dollars in millions):


	December 31,
	2022		2021
Trade receivables	$	106	$	156
Other receivables	19		13
Income tax receivable	4		1
Allowance for doubtful accounts	(1)		(1)
Total	$	127	$	169

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other

receivables at December 31, 2022 and 2021 primarily consisted of sales tax receivables, vendor rebates, a receivable associated with an affiliate, and other miscellaneous receivables.

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.

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, 2022. Included in the inventory balance is a lower of cost or market adjustment of $22 million as of December 31, 2022, and $6 million as of December 31, 2021. Inventory consisted of the following (dollars in millions):


	December 31,
	2022		2021
Logs	$	59	$	50
Other raw materials	72		57
Semi-finished inventory	25		20
Finished products	180		150
Total	$	337	$	278

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, 2022, and 2021, we had timber and timberlands of $12 million.

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, 2022, and 2021, we had timber licenses of $28 million and $30 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 (dollars in millions):


	December 31,
	2022		2021
Land, land improvements, and logging roads, net of road amortization	$	193	$	168
Buildings	428		333
Machinery and equipment	2,124		1,934
Construction in progress	253		201
	2,998		2,636
Accumulated depreciation	(1,672)		(1,596)
Property, plant, and equipment, net	$	1,326	$	1,039

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, which typically range from five to twenty years for buildings and land improvements, three to fifteen 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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Cost of sales	$	121	$	107	$	100
Selling, general and administrative expenses	4		2		3
Total depreciation and amortization	$	124	$	109	$	102

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 13 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. In accordance with ASC 350, Intangibles – Goodwill and Other, companies may opt to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A qualitative assessment includes factors such as financial performance, industry and market metrics, and other factors affecting the reporting unit. If this assessment concludes that it is more likely than not that the fair value of a reporting unit exceeds its carrying value, then goodwill is not considered impaired, and no further impairment testing is required. Conversely, if the qualitative assessment concludes that it is more likely than not that the fair value of a reporting unit is less than

Our 2022 annual impairment assessment did not result in impairments of our goodwill or intangible assets. 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. 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 the affiliate when declared.

Restricted Cash

Our restricted cash accounts generally secure outstanding letters of credit. The restricted cash balance at December 31, 2022, and 2021, was $14 million and $13 million, respectively.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities were as follows (dollars in millions):


	December 31,
	2022		2021
Trade accounts payable	$	178	$	180
Salaries and wages payable	66		65
Accrued customer incentives	46		31
Taxes other than income taxes	10		12
Current portion of operating lease liabilities	8		7
Other accrued liabilities	9		9
Total Accounts payable and accrued liabilities	$	317	$	304

Other accrued liabilities at December 31, 2022, and 2021, primarily consisted of accrued interest, worker compensation liabilities, warranty reserves, and other items. Additionally, included in trade accounts payable is $48 million and $46 million related to capital expenditures that had not yet been paid as of December 31, 2022, and 2021, respectively.

Other Long-Term Liabilities

Other long-term liabilities were as follows (dollars in millions):


	December 31,
	2022		2021
Post-retirement obligations	$	7	$	9
Asset retirement obligations	8		8
Uncertain tax positions	7		9
Warranty reserves	6		6
Pension benefit obligation	1		11
Other	25		20
Total Other long-term liabilities	$	53	$	63

Other long-term liabilities at December 31, 2022 and 2021, consisted primarily of workers' compensation liabilities and investment tax incentives associated with property, plant, and equipment.

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 2022 and 2021 is summarized in the following table (dollars in millions).


	Year Ended December 31,
	2022		2021
Beginning balance	$	8	$	10
Accretion expense	—		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(1)		(2)
Payments made	—		—
Ending balance	$	8	$	8

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 the 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).

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, Colombian, Peruvian, and Paraguayan 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 $28 million, $24 million, and $20 million in 2022, 2021, and 2020, 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 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. Actuarial gains or losses, curtailments, prior service costs or credits, and transition obligations not previously recognized are recorded as a component of Accumulated comprehensive loss.

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, 2022
Present and Prospective Accounting [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	. PRESENT AND PROSPECTIVE ACCOUNTING PRONOUNCEMENTS

Revenue (Notes)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer [Text Block]

. 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 18 below, our reportable segments are: Siding, OSB, and South America (dollars in millions).


Year Ended December 31, 2022
By Product type and family:	Siding		OSB		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,463	$	—	$	23	$	—	—		$	1,486
OSB - Structural Solutions	—		1,110		215		—		(2)		1,323
	1,463		1,110		238		—		(2)		2,809
Commodity
OSB - Commodity	—		938		—		—		(1)		937

Other
Other products	6		14		3		84		—		107
	$	1,469	$	2,062	$	241	$	84	$	(2)	$	3,854


Year Ended December 31, 2021
By Product type and family:	Siding		OSB		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,158	$	—	$	33	$	—	$	—	$	1,191
OSB - Structural Solutions	—		1,152		227		—		—		1,379
	1,158		1,152		260		—		—		2,570
Commodity
OSB - Commodity	—		1,221		—		—		—		1,221

Other
Other products	12		14		5		95		(3)		123
	$	1,170	$	2,387	$	265	$	95	$	(3)	$	3,915


Year Ended December 31, 2020
By Product type and family:	Siding		OSB		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	915	$	—	$	20	$	—	$	—	$	935
OSB - Structural Solutions	—		580		146		—		—		726
	915		580		166		—		—		1,661
Commodity
OSB - Commodity	—		632		—		—		(1)		631

Other
Other products	44		9		3		52		—		107
	$	959	$	1,220	$	169	$	52	$	(1)	$	2,399

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 2022, 2021, and 2020, our top ten customers accounted for approximately 48%, 45%, and 48% of our sales, respectively, in the aggregate. No individual customer exceeded 10% of our sales in 2022, 2021, or 2020.

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, 2022, and 2021, we accrued $46 million and $31 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, 2022, and 2021, was $20 million and $10 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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2022

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

Earnings Per Share [Text Block]

Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is 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 (dollars and shares in millions):


	Year Ended December 31,
	2022		2021		2020
Income from continuing operations	$	885	$	1,302	$	484
Net loss attributed to noncontrolling interest	3		4		2
Income attributed to LP from continuing operations	888		1,306		487
Income for discontinued operations, net of income taxes	198		71		12
Net income attributed to LP	$	1,086	$	1,377	$	499

Weighted average common shares outstanding - basic	78		97		111
Dilutive effect of employee stock plans	—		1		1
Shares used for diluted earnings per share	78		98		112

Net income attributed to LP per share - basic:
Continuing operations	$	11.40	$	13.46	$	4.37
Discontinued operations	2.54		0.73		0.11
Net income attributed to LP per share - basic	$	13.94	$	14.19	$	4.48

Net income attributed to LP per share – diluted:
Continuing operations	$	11.34	$	13.37	$	4.35
Discontinued operations	2.52		0.73		0.11
Net income attributed to LP per share - diluted	$	13.87	$	14.09	$	4.46

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

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, 2022, and 2021, are provided in the following table (dollars in millions):


	Siding		OSB		Other		Total
Balance at December 31, 2020	$	4	$	16	$	5	$	25

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

Impairment charges	—		—		—		—
Balance at December 31, 2022	$	4	$	16	$	—	$	19

Changes in other intangible assets for the years ended December 31, 2022, and 2021, are provided in the following table (dollars in millions):


	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2020	$	33	$	19	$	3	$	55

Amortization	(3)		(2)		—		(5)
Balance at December 31, 2021	30		17		2		49

Amortization	(3)		(2)		—		(5)
Balance at December 31, 2022	$	28	$	15	$	2	$	45

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 2021 impairment test for Entekra indicated the 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.

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, 2022, 2021, and 2020.

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

Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations [Text Block]

DISCONTINUED OPERATIONS

Engineered Wood Products (EWP)

In March 2022, the Company sold its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc. for $59 million. The total net carrying value of our equity method investment at the date of sale was $19 million, and the Company recognized a gain associated with the sale of $39 million within Income from discontinued operations, net of income taxes in the Consolidated Statements of Income.

On August 1, 2022, the Company completed the sale of the assets related to the EWP segment to the Purchaser. As a result of the sale, the Company received $217 million in gross cash proceeds after taking into account working capital adjustments. The Company paid $12 million in direct transaction costs, resulting in net proceeds of $205 million. The net carrying value of the EWP assets at the time of sale was $87 million, which resulted in a pre-tax gain of approximately $118 million within Income from discontinued operations, net of income taxes in the Consolidated Statements of Income.

Upon closing, the Company entered into the TSA with the Purchaser, pursuant to which the Company agreed to support the various activities of the EWP segment for a period not to exceed eight months. During the year ended December 31, 2022, the Company collected $76 million on the Purchaser's behalf pursuant to the TSA. As of December 31, 2022, the Company has $10 million due to the Purchaser, which is included in Accounts payable and accrued liabilities within the Consolidated Balance Sheets.

The Company has classified the results of its EWP segment as discontinued operations in its Consolidated Statements of Income and has classified the related assets and liabilities associated with the EWP segment as discontinued operations in our Consolidated Balance Sheets for the prior periods presented.

The following table presents the financial results of the EWP segment (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Net sales	$	455	$	638	$	389
Cost of sales	(355)		(531)		(354)
Gross profit	101		107		35
Selling, general, and administrative expenses	(10)		(18)		(17)
Other operating credits and charges, net	—		—		3
Income from operations of discontinued operations	91		90		21
Other non-operating items	—		5		(4)
Gain on disposal before income taxes	158		—		—
Income from discontinued operations before income taxes	249		95		17
Provision for income taxes	(51)		(24)		(4)
Income from discontinued operations, net of income taxes	$	198	$	71	$	12

The following summarizes the total cash provided by operations and total cash used for investing activities related to the EWP segment and included in the Consolidated Statements of Cash Flows (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Net cash provided by discontinued operating activities	$	16	$	71	$	—
Net cash provided by (used in) discontinued investing activities	$	261	$	(6)	$	(7)

Net cash provided by discontinued investing activities for the year ended December 31, 2022, includes $59 million of proceeds from the sale of our 50% equity interest in two joint ventures that produce I-joists and $205 million of net proceeds from the sale of the EWP segment assets. Capital expenditures for discontinued operations totaled $3 million, $6 million, and $7 million for the years ended December 31, 2022, 2021, and 2020, respectively. Included in Net cash provided by discontinued operating activities is depreciation and amortization of $3 million, $5 million, and $4 million for the years ended December 31, 2022, 2021, and 2020, respectively.

The following table presents the aggregate carrying amounts of discontinued operations related to the EWP segment in the Consolidated Balance Sheets (dollars in millions):


	December 31, 2021
Carrying amounts of assets included as part of discontinued operations:
Accounts receivable, net	$	22
Inventories	46
Timber and timberlands	42
Property, plant, and equipment, net	30
Operating lease assets	1
Investments in and advances to affiliates	14
Total assets classified as discontinued operations in the Consolidated Balance Sheet	$	156

Carrying amounts of liabilities included as part of discontinued operations:
Accounts payable and accrued liabilities	$	34

Other liabilities	42
Total liabilities classified as discontinued operations in the Consolidated Balance Sheet	$	76

Noncontrolling Interests (Notes)

12 Months Ended

Dec. 31, 2022

Noncontrolling Interest [Line Items]

Redeemable Noncontrolling Interest [Table Text Block]

. 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 (dollars in millions):


	December 31,
	2022		2021
Beginning balance	$	4	$	10

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

Income Taxes

12 Months Ended

Dec. 31, 2022

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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Domestic	$	961	$	1,491	$	503
Foreign	198		212		102
Total	$	1,159	$	1,704	$	605

The components of our income tax provision (benefit) from continuing operations were (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Current tax provision:
U.S. federal	$	180	$	284	$	74
State and local	51		56		16
Foreign	42		56		29
Net current tax provision	273		396		119
Deferred tax provision (benefit):
U.S. federal	(1)		2		(3)
State and local	(4)		—		8
Foreign	12		4		(2)
Net valuation allowance increase (decrease)	(6)		—		(1)
Net deferred tax provision	1		6		2
Total income tax provision	$	274	$	402	$	121

We paid income taxes, net of refunds, of $320 million, $421 million, and $70 million during 2022, 2021, and 2020, respectively. Included in our Consolidated Balance Sheets at December 31, 2022, and 2021, is a net income tax payable of $16 million, and $12 million, respectively.

Deferred Taxes

The tax effects of significant temporary differences creating deferred tax assets and liabilities were (dollars in millions):


	December 31,
	2022		2021
Accrued liabilities	$	20	$	20
Research expenditures	14		—
Inventories	9		8
Operating lease liabilities	7		8
Stock-based compensation	6		4
Benefit relating to capital loss, NOL carryforwards, and credit carryforwards	6		7
Pension and post-retirement benefits	1		4
Other	8		9
Total deferred tax assets	71		60
Valuation allowance	(4)		(10)
Total deferred tax asset after valuation allowance	67		50
Property, plant, and equipment	(152)		(112)
Timber and timberlands	(7)		(8)
Operating lease assets	(7)		(8)
Investment in Entekra	(7)		(6)
Total deferred tax liabilities	(173)		(134)
Net deferred tax liabilities	(106)		(84)
Balance sheet classification
Long-term deferred tax asset	7		2
Long-term deferred tax liability	(113)		(86)
	$	(106)	$	(84)

The benefit relating to capital loss, operating loss, and credit carryforwards included in the above table at December 31, 2022, consisted of (dollars in millions):


	Operating Loss		Benefit Amount		Valuation Allowance		Expiration Beginning in
State credit carryforwards	$	—	$	1	$	—	2034
Chile operating loss carryforwards	8		2		—		No expiration
Canadian capital loss carryforwards	—		4		(4)		No expiration
Total	$	8	$	7	$	(4)

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 record an adjustment to the valuation allowance resulting in an impact on tax provision (benefit) for that period.

As of December 31, 2022, certain of our foreign subsidiaries had accumulated undistributed earnings of approximately $232 million, combined. 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 $30 million.

Tax Rate Reconciliation

Reconciliation of the U.S. federal statutory tax rates to the total effective tax rates from continuing operations (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
U.S. federal tax rate	21	%	21	%	21	%
State and local income taxes net of federal benefit	3		3		3
Effect of foreign tax rates	1		1		1
Uncertain tax positions	—		—		(4)

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

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 the U.S. for years 2018 and 2019, in Canada for years 2017 and 2018, and in Chile for years 2016 through 2018.

Uncertain Tax Positions

Tabular reconciliation of the total amount of unrecognized tax benefits at the beginning and end of the years presented (dollars in millions):


	December 31,
	2022		2021		2020
Beginning balance	$	9	$	11	$	38
Increases:
Tax positions taken in current year	1		1		1
Tax positions taken in prior years	—		—		1
Decreases:



Lapse of statute in current year	(4)		(3)		(29)
Ending balance	$	6	$	9	$	11

Included in the above balances at December 31, 2022, is $6 million of tax benefits that, if recognized, would affect our effective tax rate. We accrued and paid no interest during 2022 and 2021.

- 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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Leases (Notes)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lessee, Operating Leases

. LEASESOur 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 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, 2022, our weighted average discount rate was four percent, and our weighted average remaining lease term was eleven years for operating leases.

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


	Classification	December 31,
Consolidated Balance Sheet		2022		2021
Assets:
Operating lease assets	Operating lease assets, net	$	44	$	50

Total lease assets		$	44	$	50
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	8	$	7

Non-current
Operating	Non-current operating lease liabilities	41		44

Total lease liabilities		$	49	$	51

For the years ended December 31, 2022, and 2021, we incurred operating lease expenses of $10 million and $10 million, respectively, included within costs of sales and selling, general and administrative expenses. We made cash payments of $9 million and $8 million during the years ended December 31, 2022, and 2021, respectively, related to our operating leases.

We obtained right of use (ROU) assets in exchange for new operating lease liabilities of $4 million and $18 million for the years ended December 31, 2022, and 2021, respectively. We did not enter into any financing leases during 2022 or 2021.

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


	Operating Leases
2023	$	8
2024	6
2025	5
2026	5
2027	4
2028 and thereafter	33
Total lease payments	63
Less: Interest	(13)
Present value of lease liabilities	$	49

Long-term Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-term Debt

LONG-TERM DEBT


		December 31, 2022						December 31, 2021
(Dollars in millions)	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	$	350	$	(4)	$	346
Amended Credit Facility, maturing 2028, interest rates variable	varies	—		—		—		—		—		—


Total		350		(4)		346		350		(4)		346
Less: current portion		—				—		—				—
Long-term portion		$	350	$	(4)	$	346	$	350	$	(4)	$	346

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 outstanding 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 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 was 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 November 2022, LP entered into a Second Amended and Restated Credit Agreement with American AgCredit, PCA, as administrative agent, and CoBank, ACB, as letter of credit issuer (the Credit Agreement), relating to its revolving credit facility (as amended, the Amended Credit Facility). The Credit Agreement provides for a revolving credit facility in the principal amount of up to $550 million, with a $60 million sub-limit for letters of credit. The Credit Agreement amended and restated the Company’s existing credit facility dated as of June 27, 2019, as amended, in its entirety to, among other things, (i) reflect the release of the collateral that secures the indebtedness evidenced by the Credit Agreement as a result of the Company’s obtaining an Investment Grade rating on November

1, 2022 (which collateral may be reinstated from time to time in accordance with the terms of the Credit Agreement), (ii) extend the maturity date to November 29, 2028, (iii) make certain changes to effect a transition from the LIBOR interest rate benchmark to Term SOFR Rate (as defined in the Credit Agreement) and (iv) provide for certain other modifications (including modifications to certain basket and threshold levels in the negative covenants) as set forth in the Credit Agreement.

There were no outstanding amounts borrowed under the Amended Credit Facility as of December 31, 2022. 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) Adjusted Term SOFR (i.e., Term SOFR Rate plus an adjustment of 0.10%) 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 Earnings before interest, depreciation and amortization (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 Adjusted Term SOFR plus 1.0%.

The Credit Agreement 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 Credit Agreement also contains financial covenants that require us and our consolidated subsidiaries to have, as of the end of each fiscal 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 0.500% 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 Credit Agreement, including capitalization ratio covenants.

As of December 31, 2022, we were in compliance with all financial covenants under the 2029 Senior Notes, the Credit Agreement 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 of $4 million, which are recorded within Other assets on our Consolidated Balance Sheets. We amortized deferred debt costs of $1 million for each of the years ended December 31, 2022, 2021, and 2020.

The weighted average interest rate for all long-term debt at December 31, 2022, and 2021, was approximately 3.6% and 3.6%, respectively. Required repayment of principal for long-term debt is as follows (dollars in millions):


Years ending December 31,
2023	$	—
2024	—
2025	—
2026	—
2027	—
2028 and thereafter	350
Total	$	350

We estimated the 2029 Senior Notes to have a fair value of $306 million and $358 million at December 31, 2022, and 2021, respectively, 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, 2022

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, 2022, 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 may be granted. At December 31, 2022, approximately four million shares were available under the current plan for these awards.


	Year ended December 31,
(Dollars in millions)	2022		2021		2020
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	$	19	$	16	$	11
Income tax benefit related to stock-based compensation	$	8	$	3	$	2
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	(16)	$	(7)	$	(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, 2022.

Restricted Stock Units and Performance Stock Units

We grant time-vested restricted stock units and performance stock units (PSUs) to certain key employees and time-vested restricted stock units to non-employee directors under our stock award plan. Generally, time-vested restricted stock units granted prior to January 1, 2020, are subject to cliff-vesting on the third anniversary of the date of grant for employees and on the first anniversary for non-employee directors. Those restricted stock units granted after January 1, 2020, vest ratably over a 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. Awards based upon the achievement of the performance goals 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, 2022, 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, 2021	239,329	$	16.93	1,087,994	$	36.39
Granted	—	—		258,124	66.59
Exercised	(56,340)	14.80		—	—
Vested	—	—		(558,913)	24.34
Forfeited/cancelled	—	—		(141,701)	34.37
Outstanding at December 31, 2022	182,989	$	17.59	645,504	$	48.49
Vested and expected to vest at December 31, 2022(1)	182,989	$	17.59	—	$	—
Exercisable at December 31, 2022	182,989	$	17.59	—	—
Unrecognized compensation costs (in millions)		$	—		$	15
To be recognized over weighted-average period of years		0			1

______________

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

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 a fiscal year 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 the last day of such fiscal year. This amount changes based on the market value of our stock, as reported by the New York Stock Exchange. The intrinsic value of SSARs and stock options exercised in the years ended December 31, 2022, 2021, and 2020 was $4 million, $8 million, and $8 million, respectively.

The total fair value of awards vested during the years ended December 31, 2022, 2021, and 2020, was $42 million, $20 million, and $13 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 had the ability to repurchase up to $200 million of shares of its 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 had the ability to 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 had the ability to repurchase up to $500 million shares of our common stock (Second 2021 Share Repurchase Program).

On May 3, 2022, we announced that our Board of Directors authorized a share repurchase program (2022 Share Repurchase Program) under which LP may repurchase up to $600 million of shares of its common stock.

We repurchased approximately 14 million shares of our common stock through market purchases during 2022 for a total of $900 million at an average price of $62.37 per share. During 2021, we repurchased approximately 21 million shares of our common stock at an average price of $61.52 per share through market purchases and during 2020, we repurchased approximately 6 million shares of our common stock at an average price of $32.69 per share through market purchases. We have remaining capacity of $200 million under the 2022 Share Repurchase Program as of December 31, 2022.

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, 2022, two million shares of common stock were reserved for issuance under the ESPP.

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, 2022, 2021, and 2020 are reflected in the table below and described in the paragraphs following the table (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Insurance recoveries	$	15	$	4	$	—
Reorganization and facility curtailment charges	(7)		(1)		(5)
Canadian wage subsidies	—		—		6
Product-line discontinuance charges	—		—		(8)
Environment costs	(2)		(4)		(3)
Product liability settlement	8		—		—
Other	2		1		2
	$	16	$	1	$	(7)

During 2022, we received $15 million in insurance recoveries related to business interruption claims for weather-related downtime sustained in the prior year. We incurred severance and other charges of $7 million related to certain reorganizations and we recognized a charge of $2 million related to additional estimated environmental costs associated with a non-operating site.

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 $4 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 $6 million of Canadian wage subsidies during 2020.

Non-operating income (expense)

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


	Year Ended December 31,
	2022		2021		2020
Interest expense	$	(14)	$	(15)	$	(17)
Amortization of debt charges	(1)		(2)		(2)
Capitalized interest	5		3		—
Interest expense, net of capitalized interest	$	(11)	$	(14)	$	(19)

Interest income	$	14	$	1	$	2
Gain on sale of auction rate securities	—		—		3
SERP market adjustments	—		—		(1)
Investment income	$	14	$	1	$	4

Net periodic pension cost, excluding service cost	$	(6)	$	(1)	$	(1)
Foreign currency gains (losses)	(11)		(8)		5
Loss on early debt extinguishment	—		(11)		—
Pension settlement charges	(82)		(2)		—
Gain on acquisition of controlling interest	2		—		—
Other non-operating items	$	(97)	$	(22)	$	4

During 2022, we recognized $82 million of pension settlement expense related to a portion of the unrecognized actuarial loss that was included in Accumulated comprehensive loss.

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.

IMPAIRMENT OF LONG-LIVED ASSETS	12 Months Ended
IMPAIRMENT OF LONG-LIVED ASSETS	Dec. 31, 2022
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, 2022, and 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 a fiber production facility to a finishing facility in February 2020.

Committments and Contingent Liabilities

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Contingencies Disclosure [Text Block]

CONTINGENCIES

We maintain reserves for various contingent liabilities as follows (dollars in millions):


	December 31,
	2022		2021
Environmental reserves	$	27	$	25
Other reserves	—		—
Total contingencies	27		25
Current portion*	(1)		(1)
Long-term portion	$	26	$	24

*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 (dollars in millions).


	Year Ended December 31,
	2022		2021
Beginning balance	$	25	$	13
Adjustments to expense during the year (other operating credits charges, net and cost of sales)	2		7
Adjustments to amounts to be paid by a third party	2		6
Payments made	(2)		(1)
Ending balance	$	27	$	25

During 2022 and 2021, 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.

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.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Product Warranty

12 Months Ended

Dec. 31, 2022

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 (dollars in millions).


	Year Ended December 31,
	2022		2021
Beginning balance	$	7	$	8
Accrued to expense during the year	3		1

Payments made	(3)		(2)
Total warranty reserves	8		7
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, 2022, 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, 2022

Retirement Benefits [Abstract]

Retirement Plans and Postretirement Benefits

RETIREMENT PLANS AND POST-RETIREMENT BENEFITS

We sponsor various defined contribution retirement plans and benefit pension plans that provide retirement benefits to substantially all 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. We also provide other post-retirement benefits consisting primarily of healthcare benefits to certain retirees who meet age and service requirements. The defined benefit pension plans were limited to active and retired employees that were eligible prior to the plans being frozen. The defined benefit pension plans were substantially settled through lump sum distributions and purchase of third-party annuity contracts in 2022.

Defined Benefit Pension Plans

In November 2021, the Company initiated the termination of our frozen U.S. and Canadian defined benefit pension plans (collectively, the Plan). Plan participants were provided the opportunity to receive their full accrued benefits from Plan assets by either electing immediate lump sum distributions or annuity contracts with a qualifying third-party annuity provider. During the year ended December 31, 2022, we contributed $5 million to fund the liquidation of the Plan. Plan assets of $247 million were liquidated to fund lump sum distributions to participants and purchase annuity contracts. As a result, a substantial portion of the Plan was settled during the year ended December 31, 2022, resulting in recognition of non-cash, pre-tax charges of $82 million from Accumulated comprehensive loss to Other non-operating items in our Consolidated Statements of Income. Upon final termination of the Plan, we expect to recognize the remaining unrecognized pre-tax charges within Accumulated comprehensive loss ($6 million as of December 31, 2022). Liquidation of remaining Plan assets in surplus of the defined benefit pension obligation will be made once the Plan satisfies all regulatory requirements, which is expected to be completed during 2023.

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, 2022, and 2021 (dollars in millions):


	2022		2021
Change in benefit obligation:
Beginning of year balance	$	301	$	319
Service cost	3		1
Interest cost	7		7
Actuarial (gains) losses, net	(47)		(8)


Foreign exchange rate changes	(2)		1
Benefits paid	(13)		(19)
Pension settlements	(247)		—
End of year balance	$	3	$	301
Change in assets (fair value):
Beginning of year balance	$	296	$	310
Actual return on plan assets	(33)		5
Employer contribution	5		—
Foreign exchange rate changes	(2)		1
Benefits paid	(13)		(19)
Pension settlements	(247)		—
End of year balance	$	6	$	296
Plan assets less than benefit obligations	$	2	$	(6)

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	4	$	6
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(2)		(12)
Net amount recognized	$	2	$	(6)

Amounts in accumulated comprehensive loss:
Net actuarial loss	$	(1)	$	(95)
Prior service costs	(6)		(6)
Total pre-tax amounts in accumulated comprehensive loss	$	(6)	$	(101)

The 2022 actuarial gains of $47 million were primarily related to a change in interest rates from prior year-end to those effective for settling the benefit plan obligations and actual return on Plan assets of $33 million was primarily related to market returns realized prior to the pension settlement dates.

The 2021 actuarial losses of $(8) million were primarily related to the impact of Plan termination assumptions on the discount rate. The year ended December 31, 2022 includes $247 million of benefits paid in accordance with the settlement of our defined benefit pension plan.

The changes recognized in other comprehensive loss were as follows (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Pension settlements, net of tax	$	62	$	2	$	—
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	5		(1)		3
Amortization of actuarial loss, prior service cost, net of tax	4		5		5
Total amounts recognized in other comprehensive income	$	71	$	5	$	8

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2022, and 2021 were as follows:


	2022		2021
Discount rate:
U.S.	2.3	%	2.6	%
Canada	3.8	%	2.6	%
Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

Benefit obligations by plan category are as follows (dollars in millions):


	2022
	U.S.		Canada		Total
Fair value of plan assets	$	1	$	4	$	6
Benefit obligation	2		2		3
Funded Status	$	—	$	3	$	2

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

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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Service cost	$	3	$	1	$	1
Other components of net periodic pension cost:
Interest cost	7		7		9
Expected return on plan assets	(7)		(13)		(14)
Amortization of prior service cost and net transition asset	1		1		1
Amortization of net actuarial loss	5		6		6
Net periodic pension cost before loss due to settlement	8		2		2
Loss due to pension settlement	82		2		—
Total net periodic pension cost	$	91	$	4	$	2

Net periodic pension cost included in cost of sales	$	—	$	—	$	—
Net periodic pension cost included in selling, general, and administrative expenses	3		1		1
Net periodic pension cost included in other non-operating items	88		3		1
	$	91	$	4	$	2

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2022, 2021, and 2020 were as follows:


	2022		2021		2020
Discount rate:
U.S.	2.6	%	2.3	%	3.1	%
Canada	2.6	%	2.3	%	3.0	%

Expected return on plan assets:
U.S.	3.0	%	5.3	%	5.8	%
Canada	2.0	%	2.3	%	3.2	%

Rate of compensation increase:
U.S.	NA		NA		NA
Canada	NA		NA		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 2022		Actual Allocation
			2022		2021
Asset category
U.S. Plans

Debt securities	—	%	—	%	76	%


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

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

Our investment policies for the defined benefit pension plans are allocated to reduce risk in assets as a result of the termination and final expected settlements of the Plan in fiscal 2023. 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 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, 2022, and 2021, are as follows (dollars in millions):


	December 31, 2022
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	—		—		—		—		—
International bond funds	—		—		—		—		—

Cash and cash equivalents	6		6		—		—		—
Total	$	6	$	6	$	—	$	—	$	—

	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
Equity investment funds:
Domestic stock funds	180		—		180		—		—
International stock funds	47		—		13		—		34




Cash and cash equivalents	68		58		11		—		—
Total	$	296	$	58	$	204	$	—	$	34

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 eight percent of the total market value of plan assets at December 31, 2022.

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 $23 million, $21 million, and $15 million in 2022, 2021, and 2020, 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, 2022, and 2021, for these post-retirement benefits was $7 million and $10 million, respectively. The net expense related to these plans was not significant in 2022, 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 as of December 31, 2022, and 2021, 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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Accumulated Comprehensive Loss

12 Months Ended

Dec. 31, 2022

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

Other Comprehensive Income (Loss), Net of Tax

ACCUMULATED COMPREHENSIVE LOSS

Accumulated comprehensive loss 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 (dollars in millions):


	Pension		Translation Adjustments		Other		Total
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
Pension settlement loss, net of taxes	—		—		—		—
Translation adjustments	—		(1)		—		(1)
Balance at December 31, 2020	(81)		(68)		(2)		(151)
Other comprehensive income before reclassifications, net of taxes	—		—		—		—
Reclassified to income statement, net of taxes1	5		—		—		5
Pension settlement loss	—		—		—		—
Translation adjustments	—		(28)		—		(28)
Balance at December 31, 2021	(76)		(96)		(1)		(174)
Other comprehensive income before reclassifications, net of taxes	—		—		—		—
Reclassified to income statement, net of taxes1	—		—		1		1
Pension settlement loss, net of taxes	71		—		—		71
Translation adjustments	—		2		—		2
Balance at December 31, 2022	$	(5)	$	(94)	$	—	$	(99)

1 Amounts of actuarial loss and prior service cost are components of net periodic benefit cost. See Note 16 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 comprehensive loss included an income tax provision of $23 million, $2 million, and $2 million in 2022, 2021, and 2020, respectively.

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2022
Segment Reporting Information [Line Items]
Segment Reporting Disclosure [Text Block]	We operate in three segments: Siding, OSB, and South America. Our business units have been aggregated into these three segments based upon the similarity of economic characteristics, customers, and distribution methods. Our results of operations are summarized below for each of these segments separately as well as for the “other” category, which comprises other products that are not individually significant. •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 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, LP NovaCore™ Thermal Insulated Sheathing, LP® FlameBlock® Fire-Rated Sheathing, and LP® TopNotch® Sub-Flooring). •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, Colombia, Argentina, and Paraguay. We evaluate the performance of our business segments based on Net sales and segment Adjusted EBITDA. Accordingly, our chief operating decision maker evaluates performance and allocates resources based primarily on Net sales and segment Adjusted EBITDA for our business segments. Segment Adjusted EBITDA is defined as income attributed to LP before interest expense, provision for income taxes, depreciation and amortization, and 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.

- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

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

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Nature of Operations [Policy Text Block]

Nature of Operations

See Note 18 below for further information regarding our products and segments.

Consolidation, Policy [Policy Text Block]

Basis of Presentation

Reclassifications

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.

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, 2022.

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 (dollars in millions):


	December 31,
	2022		2021
Land, land improvements, and logging roads, net of road amortization	$	193	$	168
Buildings	428		333
Machinery and equipment	2,124		1,934
Construction in progress	253		201
	2,998		2,636
Accumulated depreciation	(1,672)		(1,596)
Property, plant, and equipment, net	$	1,326	$	1,039

Asset Impairment, Policy [Policy Text Block]

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, Policy [Policy Text Block]

Goodwill and Intangible Assets

its carrying value, we must then compare the fair value of the reporting unit to its carrying value. Impairment is evaluated by applying a fair value based test. Impairment losses would be recognized when the implied fair value of goodwill is less than its carrying value. Our 2022 annual impairment assessment did not result in impairments of our goodwill or intangible assets. 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. See Note 5 below for further discussion of 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 the 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, 2022, and 2021, was $14 million and $13 million, respectively.

Asset Retirement Obligation [Policy Text Block]

Asset Retirement Obligations


	Year Ended December 31,
	2022		2021
Beginning balance	$	8	$	10
Accretion expense	—		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(1)		(2)
Payments made	—		—
Ending balance	$	8	$	8

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 InterestRedeemable noncontrolling interest in subsidiaries that is redeemable outside of our control is classified as mezzanine equity and measured at the greater of the 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).

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, NetWe classify 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 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. Actuarial gains or losses, curtailments, prior service costs or credits, and transition obligations not previously recognized are recorded as a component of Accumulated comprehensive loss.

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 $28 million, $24 million, and $20 million in 2022, 2021, and 2020, 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, 2022
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, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

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

Receivables consisted of the following (dollars in millions):


	December 31,
	2022		2021
Trade receivables	$	106	$	156
Other receivables	19		13
Income tax receivable	4		1
Allowance for doubtful accounts	(1)		(1)
Total	$	127	$	169

Schedule of Inventory, Current [Table Text Block]

Inventories


	December 31,
	2022		2021
Logs	$	59	$	50
Other raw materials	72		57
Semi-finished inventory	25		20
Finished products	180		150
Total	$	337	$	278

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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Cost of sales	$	121	$	107	$	100
Selling, general and administrative expenses	4		2		3
Total depreciation and amortization	$	124	$	109	$	102

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):


	December 31,
	2022		2021
Land, land improvements, and logging roads, net of road amortization	$	193	$	168
Buildings	428		333
Machinery and equipment	2,124		1,934
Construction in progress	253		201
	2,998		2,636
Accumulated depreciation	(1,672)		(1,596)
Property, plant, and equipment, net	$	1,326	$	1,039

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

Accounts payable and accrued liabilities were as follows (dollars in millions):


	December 31,
	2022		2021
Trade accounts payable	$	178	$	180
Salaries and wages payable	66		65
Accrued customer incentives	46		31
Taxes other than income taxes	10		12
Current portion of operating lease liabilities	8		7
Other accrued liabilities	9		9
Total Accounts payable and accrued liabilities	$	317	$	304

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities were as follows (dollars in millions):


	December 31,
	2022		2021
Post-retirement obligations	$	7	$	9
Asset retirement obligations	8		8
Uncertain tax positions	7		9
Warranty reserves	6		6
Pension benefit obligation	1		11
Other	25		20
Total Other long-term liabilities	$	53	$	63

Schedule of Asset Retirement Obligations [Table Text Block]

The activity in our asset retirement obligation liability for 2022 and 2021 is summarized in the following table (dollars in millions).


	Year Ended December 31,
	2022		2021
Beginning balance	$	8	$	10
Accretion expense	—		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(1)		(2)
Payments made	—		—
Ending balance	$	8	$	8

Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]


Year Ended December 31, 2022
By Product type and family:	Siding		OSB		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,463	$	—	$	23	$	—	—		$	1,486
OSB - Structural Solutions	—		1,110		215		—		(2)		1,323
	1,463		1,110		238		—		(2)		2,809
Commodity
OSB - Commodity	—		938		—		—		(1)		937

Other
Other products	6		14		3		84		—		107
	$	1,469	$	2,062	$	241	$	84	$	(2)	$	3,854


Year Ended December 31, 2021
By Product type and family:	Siding		OSB		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	1,158	$	—	$	33	$	—	$	—	$	1,191
OSB - Structural Solutions	—		1,152		227		—		—		1,379
	1,158		1,152		260		—		—		2,570
Commodity
OSB - Commodity	—		1,221		—		—		—		1,221

Other
Other products	12		14		5		95		(3)		123
	$	1,170	$	2,387	$	265	$	95	$	(3)	$	3,915


Year Ended December 31, 2020
By Product type and family:	Siding		OSB		South America		Other		Inter-segment		Total
Value-add
Siding Solutions	$	915	$	—	$	20	$	—	$	—	$	935
OSB - Structural Solutions	—		580		146		—		—		726
	915		580		166		—		—		1,661
Commodity
OSB - Commodity	—		632		—		—		(1)		631

Other
Other products	44		9		3		52		—		107
	$	959	$	1,220	$	169	$	52	$	(1)	$	2,399

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

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 (dollars and shares in millions):


	Year Ended December 31,
	2022		2021		2020
Income from continuing operations	$	885	$	1,302	$	484
Net loss attributed to noncontrolling interest	3		4		2
Income attributed to LP from continuing operations	888		1,306		487
Income for discontinued operations, net of income taxes	198		71		12
Net income attributed to LP	$	1,086	$	1,377	$	499

Weighted average common shares outstanding - basic	78		97		111
Dilutive effect of employee stock plans	—		1		1
Shares used for diluted earnings per share	78		98		112

Net income attributed to LP per share - basic:
Continuing operations	$	11.40	$	13.46	$	4.37
Discontinued operations	2.54		0.73		0.11
Net income attributed to LP per share - basic	$	13.94	$	14.19	$	4.48

Net income attributed to LP per share – diluted:
Continuing operations	$	11.34	$	13.37	$	4.35
Discontinued operations	2.52		0.73		0.11
Net income attributed to LP per share - diluted	$	13.87	$	14.09	$	4.46

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes in goodwill by segment for the years ended December 31, 2022, and 2021, are provided in the following table (dollars in millions):


	Siding		OSB		Other		Total
Balance at December 31, 2020	$	4	$	16	$	5	$	25

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

Impairment charges	—		—		—		—
Balance at December 31, 2022	$	4	$	16	$	—	$	19

Schedule of Intangible Assets and Goodwill [Table Text Block]

Changes in other intangible assets for the years ended December 31, 2022, and 2021, are provided in the following table (dollars in millions):


	Timber Licenses1		Developed Technology		Trademark		Total Other Intangibles
Balance at December 31, 2020	$	33	$	19	$	3	$	55

Amortization	(3)		(2)		—		(5)
Balance at December 31, 2021	30		17		2		49

Amortization	(3)		(2)		—		(5)
Balance at December 31, 2022	$	28	$	15	$	2	$	45

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

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the financial results of the EWP segment (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Net sales	$	455	$	638	$	389
Cost of sales	(355)		(531)		(354)
Gross profit	101		107		35
Selling, general, and administrative expenses	(10)		(18)		(17)
Other operating credits and charges, net	—		—		3
Income from operations of discontinued operations	91		90		21
Other non-operating items	—		5		(4)
Gain on disposal before income taxes	158		—		—
Income from discontinued operations before income taxes	249		95		17
Provision for income taxes	(51)		(24)		(4)
Income from discontinued operations, net of income taxes	$	198	$	71	$	12


	Year Ended December 31,
	2022		2021		2020
Net cash provided by discontinued operating activities	$	16	$	71	$	—
Net cash provided by (used in) discontinued investing activities	$	261	$	(6)	$	(7)

The following table presents the aggregate carrying amounts of discontinued operations related to the EWP segment in the Consolidated Balance Sheets (dollars in millions):


	December 31, 2021
Carrying amounts of assets included as part of discontinued operations:
Accounts receivable, net	$	22
Inventories	46
Timber and timberlands	42
Property, plant, and equipment, net	30
Operating lease assets	1
Investments in and advances to affiliates	14
Total assets classified as discontinued operations in the Consolidated Balance Sheet	$	156

Carrying amounts of liabilities included as part of discontinued operations:
Accounts payable and accrued liabilities	$	34

Other liabilities	42
Total liabilities classified as discontinued operations in the Consolidated Balance Sheet	$	76

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI https://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

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


	Year Ended December 31,
	2022		2021		2020
Domestic	$	961	$	1,491	$	503
Foreign	198		212		102
Total	$	1,159	$	1,704	$	605

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


	Year Ended December 31,
	2022		2021		2020
Current tax provision:
U.S. federal	$	180	$	284	$	74
State and local	51		56		16
Foreign	42		56		29
Net current tax provision	273		396		119
Deferred tax provision (benefit):
U.S. federal	(1)		2		(3)
State and local	(4)		—		8
Foreign	12		4		(2)
Net valuation allowance increase (decrease)	(6)		—		(1)
Net deferred tax provision	1		6		2
Total income tax provision	$	274	$	402	$	121

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

The tax effects of significant temporary differences creating deferred tax assets and liabilities were (dollars in millions):


	December 31,
	2022		2021
Accrued liabilities	$	20	$	20
Research expenditures	14		—
Inventories	9		8
Operating lease liabilities	7		8
Stock-based compensation	6		4
Benefit relating to capital loss, NOL carryforwards, and credit carryforwards	6		7
Pension and post-retirement benefits	1		4
Other	8		9
Total deferred tax assets	71		60
Valuation allowance	(4)		(10)
Total deferred tax asset after valuation allowance	67		50
Property, plant, and equipment	(152)		(112)
Timber and timberlands	(7)		(8)
Operating lease assets	(7)		(8)
Investment in Entekra	(7)		(6)
Total deferred tax liabilities	(173)		(134)
Net deferred tax liabilities	(106)		(84)
Balance sheet classification
Long-term deferred tax asset	7		2
Long-term deferred tax liability	(113)		(86)
	$	(106)	$	(84)

Summary of Tax Credit Carryforwards [Table Text Block]

The benefit relating to capital loss, operating loss, and credit carryforwards included in the above table at December 31, 2022, consisted of (dollars in millions):


	Operating Loss		Benefit Amount		Valuation Allowance		Expiration Beginning in
State credit carryforwards	$	—	$	1	$	—	2034
Chile operating loss carryforwards	8		2		—		No expiration
Canadian capital loss carryforwards	—		4		(4)		No expiration
Total	$	8	$	7	$	(4)

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

Reconciliation of the U.S. federal statutory tax rates to the total effective tax rates from continuing operations (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
U.S. federal tax rate	21	%	21	%	21	%
State and local income taxes net of federal benefit	3		3		3
Effect of foreign tax rates	1		1		1
Uncertain tax positions	—		—		(4)

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

Summary of Income Tax Contingencies [Table Text Block]

Tabular reconciliation of the total amount of unrecognized tax benefits at the beginning and end of the years presented (dollars in millions):


	December 31,
	2022		2021		2020
Beginning balance	$	9	$	11	$	38
Increases:
Tax positions taken in current year	1		1		1
Tax positions taken in prior years	—		—		1
Decreases:



Lapse of statute in current year	(4)		(3)		(29)
Ending balance	$	6	$	9	$	11

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease, Cost [Table Text Block]

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


	Classification	December 31,
Consolidated Balance Sheet		2022		2021
Assets:
Operating lease assets	Operating lease assets, net	$	44	$	50

Total lease assets		$	44	$	50
Liabilities:
Current
Operating	Accounts payable and accrued liabilities	$	8	$	7

Non-current
Operating	Non-current operating lease liabilities	41		44

Total lease liabilities		$	49	$	51

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 (dollars in millions).


	Operating Leases
2023	$	8
2024	6
2025	5
2026	5
2027	4
2028 and thereafter	33
Total lease payments	63
Less: Interest	(13)
Present value of lease liabilities	$	49

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

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


		December 31, 2022						December 31, 2021
(Dollars in millions)	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	$	350	$	(4)	$	346
Amended Credit Facility, maturing 2028, interest rates variable	varies	—		—		—		—		—		—


Total		350		(4)		346		350		(4)		346
Less: current portion		—				—		—				—
Long-term portion		$	350	$	(4)	$	346	$	350	$	(4)	$	346

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


Years ending December 31,
2023	$	—
2024	—
2025	—
2026	—
2027	—
2028 and thereafter	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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=126973232&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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=126973232&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 https://asc.fasb.org/extlink&oid=126973232&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 https://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 https://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 https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

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

Stock Award Plan


	Year ended December 31,
(Dollars in millions)	2022		2021		2020
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	$	19	$	16	$	11
Income tax benefit related to stock-based compensation	$	8	$	3	$	2
Impact on cash flow due to taxes paid related to net share settlement of equity awards	$	(16)	$	(7)	$	(5)

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

The following table summarizes stock awards as of December 31, 2022, 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, 2021	239,329	$	16.93	1,087,994	$	36.39
Granted	—	—		258,124	66.59
Exercised	(56,340)	14.80		—	—
Vested	—	—		(558,913)	24.34
Forfeited/cancelled	—	—		(141,701)	34.37
Outstanding at December 31, 2022	182,989	$	17.59	645,504	$	48.49
Vested and expected to vest at December 31, 2022(1)	182,989	$	17.59	—	$	—
Exercisable at December 31, 2022	182,989	$	17.59	—	—
Unrecognized compensation costs (in millions)		$	—		$	15
To be recognized over weighted-average period of years		0			1

______________

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

Other Operating Credits and Charges, Net (Tables)

12 Months Ended

Dec. 31, 2022

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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Interest expense	$	(14)	$	(15)	$	(17)
Amortization of debt charges	(1)		(2)		(2)
Capitalized interest	5		3		—
Interest expense, net of capitalized interest	$	(11)	$	(14)	$	(19)

Interest income	$	14	$	1	$	2
Gain on sale of auction rate securities	—		—		3
SERP market adjustments	—		—		(1)
Investment income	$	14	$	1	$	4

Net periodic pension cost, excluding service cost	$	(6)	$	(1)	$	(1)
Foreign currency gains (losses)	(11)		(8)		5
Loss on early debt extinguishment	—		(11)		—
Pension settlement charges	(82)		(2)		—
Gain on acquisition of controlling interest	2		—		—
Other non-operating items	$	(97)	$	(22)	$	4

Other Operating Credits and Charges Net [Table Text Block]


	Year Ended December 31,
	2022		2021		2020
Insurance recoveries	$	15	$	4	$	—
Reorganization and facility curtailment charges	(7)		(1)		(5)
Canadian wage subsidies	—		—		6
Product-line discontinuance charges	—		—		(8)
Environment costs	(2)		(4)		(3)
Product liability settlement	8		—		—
Other	2		1		2
	$	16	$	1	$	(7)

Committments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

maintain reserves for various contingent liabilities as follows (dollars in millions):


	December 31,
	2022		2021
Environmental reserves	$	27	$	25
Other reserves	—		—
Total contingencies	27		25
Current portion*	(1)		(1)
Long-term portion	$	26	$	24

*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 (dollars in millions).


	Year Ended December 31,
	2022		2021
Beginning balance	$	25	$	13
Adjustments to expense during the year (other operating credits charges, net and cost of sales)	2		7
Adjustments to amounts to be paid by a third party	2		6
Payments made	(2)		(1)
Ending balance	$	27	$	25

Product Warranty (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The activity in warranty reserves is summarized in the following table (dollars in millions).


	Year Ended December 31,
	2022		2021
Beginning balance	$	7	$	8
Accrued to expense during the year	3		1

Payments made	(3)		(2)
Total warranty reserves	8		7
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, 2022

Retirement Benefits [Abstract]

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


	2022		2021
Change in benefit obligation:
Beginning of year balance	$	301	$	319
Service cost	3		1
Interest cost	7		7
Actuarial (gains) losses, net	(47)		(8)


Foreign exchange rate changes	(2)		1
Benefits paid	(13)		(19)
Pension settlements	(247)		—
End of year balance	$	3	$	301
Change in assets (fair value):
Beginning of year balance	$	296	$	310
Actual return on plan assets	(33)		5
Employer contribution	5		—
Foreign exchange rate changes	(2)		1
Benefits paid	(13)		(19)
Pension settlements	(247)		—
End of year balance	$	6	$	296
Plan assets less than benefit obligations	$	2	$	(6)

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	4	$	6
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(2)		(12)
Net amount recognized	$	2	$	(6)

Amounts in accumulated comprehensive loss:
Net actuarial loss	$	(1)	$	(95)
Prior service costs	(6)		(6)
Total pre-tax amounts in accumulated comprehensive loss	$	(6)	$	(101)

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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Pension settlements, net of tax	$	62	$	2	$	—
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	5		(1)		3
Amortization of actuarial loss, prior service cost, net of tax	4		5		5
Total amounts recognized in other comprehensive income	$	71	$	5	$	8

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2022, and 2021 were as follows:


	2022		2021
Discount rate:
U.S.	2.3	%	2.6	%
Canada	3.8	%	2.6	%
Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

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 (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Service cost	$	3	$	1	$	1
Other components of net periodic pension cost:
Interest cost	7		7		9
Expected return on plan assets	(7)		(13)		(14)
Amortization of prior service cost and net transition asset	1		1		1
Amortization of net actuarial loss	5		6		6
Net periodic pension cost before loss due to settlement	8		2		2
Loss due to pension settlement	82		2		—
Total net periodic pension cost	$	91	$	4	$	2

Net periodic pension cost included in cost of sales	$	—	$	—	$	—
Net periodic pension cost included in selling, general, and administrative expenses	3		1		1
Net periodic pension cost included in other non-operating items	88		3		1
	$	91	$	4	$	2

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2022, 2021, and 2020 were as follows:


	2022		2021		2020
Discount rate:
U.S.	2.6	%	2.3	%	3.1	%
Canada	2.6	%	2.3	%	3.0	%

Expected return on plan assets:
U.S.	3.0	%	5.3	%	5.8	%
Canada	2.0	%	2.3	%	3.2	%

Rate of compensation increase:
U.S.	NA		NA		NA
Canada	NA		NA		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 2022		Actual Allocation
			2022		2021
Asset category
U.S. Plans

Debt securities	—	%	—	%	76	%


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

Non-U.S. Plans
Debt securities	—	%	—	%	22	%
Multi-Strategy Funds	—	%	—	%	59	%
Cash and cash equivalents	100	%	100	%	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, 2022, and 2021, are as follows (dollars in millions):


	December 31, 2022
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	—		—		—		—		—
International bond funds	—		—		—		—		—

Cash and cash equivalents	6		6		—		—		—
Total	$	6	$	6	$	—	$	—	$	—

	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
Equity investment funds:
Domestic stock funds	180		—		180		—		—
International stock funds	47		—		13		—		34




Cash and cash equivalents	68		58		11		—		—
Total	$	296	$	58	$	204	$	—	$	34

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

Benefit obligations by plan category are as follows (dollars in millions):


	2022
	U.S.		Canada		Total
Fair value of plan assets	$	1	$	4	$	6
Benefit obligation	2		2		3
Funded Status	$	—	$	3	$	2

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

Accumulated Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

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 (dollars in millions):


	Pension		Translation Adjustments		Other		Total
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
Pension settlement loss, net of taxes	—		—		—		—
Translation adjustments	—		(1)		—		(1)
Balance at December 31, 2020	(81)		(68)		(2)		(151)
Other comprehensive income before reclassifications, net of taxes	—		—		—		—
Reclassified to income statement, net of taxes1	5		—		—		5
Pension settlement loss	—		—		—		—
Translation adjustments	—		(28)		—		(28)
Balance at December 31, 2021	(76)		(96)		(1)		(174)
Other comprehensive income before reclassifications, net of taxes	—		—		—		—
Reclassified to income statement, net of taxes1	—		—		1		1
Pension settlement loss, net of taxes	71		—		—		71
Translation adjustments	—		2		—		2
Balance at December 31, 2022	$	(5)	$	(94)	$	—	$	(99)

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

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


	Year Ended December 31,
	2022		2021		2020
NET SALES BY BUSINESS SEGMENT
Siding	$	1,469	$	1,170	$	959
OSB	2,062		2,387		1,220
South America	241		265		169
Other	84		95		52
Intersegment Sales	(2)		(3)		(1)
Total sales	$	3,854	$	3,915	$	2,399
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	1,083	$	1,373	$	497
Add (deduct):
Net loss attributed to noncontrolling interest	3		4		2
Income from discontinued operations, net of income taxes	(198)		(71)		(12)
Income attributed to LP from continuing operations	888		1,306		487
Provision for income taxes	274		402		121
Depreciation and amortization	129		114		106
Stock-based compensation expense	19		16		11
Loss on impairment attributed to LP	1		5		15
Other operating credits and charges, net	(16)		(1)		7
Pension settlement charges	82		2		—
Interest expense	11		14		19
Investment income	(14)		(1)		(4)
Loss on early debt extinguishment	—		11		—
Other non-operating items, not included above	15		9		(4)
Adjusted EBITDA	$	1,389	$	1,877	$	757
SEGMENT ADJUSTED EBITDA
Siding	$	339	$	289	$	246
OSB	1,034		1,531		519
South America	77		113		42
Other	(23)		(20)		(19)
Corporate	(38)		(36)		(30)
Adjusted EBITDA	$	1,389	$	1,877	$	757


	Year Ended December 31,
	2022		2021		2020
Depreciation and Amortization
Siding	$	46	$	34	$	32
OSB	71		69		65
South America	8		8		7
Other	4		4		3
Non-segment related	—		—		—
Total depreciation and amortization	$	129	$	114	$	107

Capital Expenditures
Siding	$	316	$	177	$	34
OSB	53		47		25
South America	20		20		7
Other	1		2		4
Non-segment related	21		4		1
Total capital expenditures	$	412	$	250	$	71

Information concerning identifiable assets by segment is as follows (dollars in millions):


	December 31,
	2022		2021
Identifiable Assets
Siding	$	1,045	$	705
OSB	491		521
South America	151		118
Other	74		86
Discontinued operations	—		156
Non-segment related	589		608
Total assets	$	2,350	$	2,194

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

Information concerning our geographic segments is as follows (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
GEOGRAPHIC LOCATIONS
Total Sales—Point of origin
U.S.	$	3,329	$	3,354	$	2,118
Canada	827		613		426
South America	273		291		185
Intercompany sales	(575)		(344)		(330)
Total Sales	$	3,854	$	3,915	$	2,399
Operating profit (loss)
U.S.	$	1,084	$	1,567	$	583
Canada	129		112		57
South America	70		106		36
Other operating credits and charges, net and loss on impairments of assets	15		(5)		(23)
General corporate expense, loss on early debt extinguishment, other income (expense), interest, net and equity in unconsolidated affiliates	(139)		(77)		(48)
Income before income taxes, including equity in unconsolidated affiliates	1,159		1,704		605
Provision for income taxes	(274)		(402)		(121)
Income from continuing operations	$	885	$	1,302	$	484
Loss attributed to noncontrolling interest	3		4		2
Income attributed to LP from continuing operations	$	888	$	1,306	$	487

IDENTIFIABLE TANGIBLE LONG LIVED ASSETS
U.S.	$	939	$	671	$	517
Canada	356		359		340
South America	87		75		77
Total assets	$	1,382	$	1,106	$	935

Summary of Significant Accounting Policies - Nature of Operations (Details) - plant	Dec. 31, 2022	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Plants Operated	22
EWP Segment Assets \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	50.00%	50.00%

Summary of Significant Accounting Policies Receivables (Details) $ in Millions	Dec. 31, 2022 USD ($) plant	Dec. 31, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 106	$ 156
Income Taxes Receivable, Current	4	1
Other Receivables, Gross, Current	19	13
Allowance for Doubtful Other Receivables, Current	(1)	(1)
Receivables, net of allowance for doubtful accounts of $1 million at December 31, 2022, and 2021, respectively	$ 127	$ 169
Number of Plants Operated \| plant	22

Summary of Significant Accounting Policies Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventory Adjustments	$ (22)	$ (6)
Logs	59	50
Other raw materials	72	57
Semi-finished inventory	25	20
Finished products	180	150
Total	$ 337	$ 278

Summary of Significant Accounting Policies Property, Plant and Equipment (Details)
$ in Millions

12 Months Ended

Dec. 31, 2022

USD ($)

plant

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Property, Plant and Equipment [Line Items]

Land and Land Improvements

$ 193

$ 168

Buildings

428

333

Machinery and equipment

2,124

1,934

Construction in progress

253

201

Property, Plant and Equipment, Gross

2,998

2,636

Accumulated depreciation

(1,672)

(1,596)

Property, Plant and Equipment, Net

$ 1,326

1,039

Number of Plants Operated | plant

Intangible Assets, Net (Excluding Goodwill)

$ 45

$ 55

Significant Accounting Policies [Text Block]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

See Note 18 below for further information regarding our products and segments.

Basis of Presentation

Reclassifications

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 (dollars in millions):


	December 31,
	2022		2021
Trade receivables	$	106	$	156
Other receivables	19		13
Income tax receivable	4		1
Allowance for doubtful accounts	(1)		(1)
Total	$	127	$	169

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other

receivables at December 31, 2022 and 2021 primarily consisted of sales tax receivables, vendor rebates, a receivable associated with an affiliate, and other miscellaneous receivables.

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.

Inventories


	December 31,
	2022		2021
Logs	$	59	$	50
Other raw materials	72		57
Semi-finished inventory	25		20
Finished products	180		150
Total	$	337	$	278

Timber and Timberlands

Property, Plant, and Equipment

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):


	December 31,
	2022		2021
Land, land improvements, and logging roads, net of road amortization	$	193	$	168
Buildings	428		333
Machinery and equipment	2,124		1,934
Construction in progress	253		201
	2,998		2,636
Accumulated depreciation	(1,672)		(1,596)
Property, plant, and equipment, net	$	1,326	$	1,039

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


	Year Ended December 31,
	2022		2021		2020
Cost of sales	$	121	$	107	$	100
Selling, general and administrative expenses	4		2		3
Total depreciation and amortization	$	124	$	109	$	102

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 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

Investments in Affiliates

Restricted Cash

Our restricted cash accounts generally secure outstanding letters of credit. The restricted cash balance at December 31, 2022, and 2021, was $14 million and $13 million, respectively.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities were as follows (dollars in millions):


	December 31,
	2022		2021
Trade accounts payable	$	178	$	180
Salaries and wages payable	66		65
Accrued customer incentives	46		31
Taxes other than income taxes	10		12
Current portion of operating lease liabilities	8		7
Other accrued liabilities	9		9
Total Accounts payable and accrued liabilities	$	317	$	304

Other Long-Term Liabilities

Other long-term liabilities were as follows (dollars in millions):


	December 31,
	2022		2021
Post-retirement obligations	$	7	$	9
Asset retirement obligations	8		8
Uncertain tax positions	7		9
Warranty reserves	6		6
Pension benefit obligation	1		11
Other	25		20
Total Other long-term liabilities	$	53	$	63

Other long-term liabilities at December 31, 2022 and 2021, consisted primarily of workers' compensation liabilities and investment tax incentives associated with property, plant, and equipment.

Asset Retirement Obligations


	Year Ended December 31,
	2022		2021
Beginning balance	$	8	$	10
Accretion expense	—		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(1)		(2)
Payments made	—		—
Ending balance	$	8	$	8

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.

Redeemable Noncontrolling Interest

Stock-Based Compensation

Foreign Currency Translation

Advertising costs

Other Operating Credits and Charges, Net

Retirement Benefits

Comprehensive Income

Timber and Timberlands [Policy Text Block]

Timber and Timberlands

Licensing Agreements [Member]

Property, Plant and Equipment [Line Items]

Intangible Assets, Net (Excluding Goodwill)

$ 28

$ 30

$ 33

Timber [Member]

Property, Plant and Equipment [Line Items]

Property, Plant and Equipment, Gross

$ 12

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

5 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, 2022	Dec. 31, 2021
Goodwill [Line Items]
Asset Impairment Charges	$ 0	$ (5)
Other
Goodwill [Line Items]
Asset Impairment Charges	$ 0	$ (5)

Summary of Significant Accounting Policies Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Depreciation and amortization included in Selling and administrative	$ 4	$ 2	$ 3
Depreciation and amortization	124	109	102
Cost of Goods and Service Benchmark [Member]
Depreciation and amortization in cost of sales	$ 121	$ 107	$ 100

Summary of Significant Accounting Policies Accounts Payable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts Payable	$ 178	$ 180
Accrued Salaries, Current	66	65
Accrued Exchange Fee Rebate, Current	46	31
Taxes Payable, Current	10	12
Operating Lease, Liability, Current	8	7
Loss Contingency, Accrual, Current	1	1
Other Accrued Liabilities, Current	9	9
Accounts payable and accrued liabilities	317	304
Unpaid capital expenditures	48	46	$ 16
Advertising Expense	$ 28	$ 24	$ 20

Summary of Significant Accounting Policies Other long-term liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Other long term liabilities [Abstract]
Asset Retirement Obligation, Current	$ 8	$ 8
Unrecognized Tax Benefits	7	9
Liability, Retirement and Postemployment Benefits	7	9
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	1	11
Long-term portion of warranty reserves	6	6
Other long term liabilities	25	20
Other long-term liabilities	$ 53	$ 63

Summary of Significant Accounting Policies Asset Retirement Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Entity Information [Line Items]
Asset Retirement Obligation	$ 8	$ 8	$ 10
Accretion Expense, Including Asset Retirement Obligations	0	1
Asset Retirement Obligation, Liabilities Incurred	(1)	(2)
Asset Retirement Obligation, Liabilities Settled	0	0
Advertising Expense	$ 28	$ 24	$ 20

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Consignment inventory	$ 20	$ 10
All Customers [Member] [Member] \| Customer Concentration Risk \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	48.00%	45.00%	48.00%

Revenue Disaggregation of revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 3,854	$ 3,915	$ 2,399
Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	(2)	(3)	(1)
OSB - commodity [Member]
Disaggregation of Revenue [Line Items]
Net sales	937	1,221	631
OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(1)	0
OSB - value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,323	1,379	726
OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	(2)	0	0
Value-add [Member]
Disaggregation of Revenue [Line Items]
Net sales	2,809	2,570	1,661
Value-add [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	(2)	0	0
Other products [Member]
Disaggregation of Revenue [Line Items]
Net sales	107	123	107
Other products [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales	0	(3)	0
Commodity Products [Member]
Disaggregation of Revenue [Line Items]
Net sales
Commodity Products [Member] \| Intersegment sales
Disaggregation of Revenue [Line Items]
Net sales			(1)
Siding Solutions
Disaggregation of Revenue [Line Items]
Net sales	1,486	1,191	935
Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Siding \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,469	1,170	959
Siding \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0
Siding \| OSB - value-add [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	1,463	1,158	915
Siding \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	6	12	44
Siding \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			0
Siding \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,463	1,158	915
OSB \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	2,062	2,387	1,220
OSB \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	938	1,221
OSB \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,110	1,152	580
OSB \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,110	1,152	580
OSB \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	14	14	9
OSB \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			632
OSB \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
South America \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	241	265	169
South America \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0
South America \| OSB - value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	215	227	146
South America \| Value-add [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	238	260	166
South America \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	3	5	3
South America \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			0
South America \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	23	33	20
Other \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	84	95	52
Other \| OSB - commodity [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0
Other \| OSB - value-add [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 \| Other products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	84	95	52
Other \| Commodity Products [Member] \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales			0
Other \| Siding Solutions \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic	(78)	(97)	(111)
Net loss attributed to noncontrolling interest	$ 3.0	$ 4.0	$ 2.0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	888.0	1,306.0	487.0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	198.0	71.0	12.0
Net Income (Loss) Attributable to Parent	$ 1,086.0	$ 1,377.0	$ 499.0
Dilutive effect of employee stock plans	0	1	1
Weighted average number of shares outstanding, diluted	78	98	112
Loss per share from discontinued operations	$ 2.52	$ 0.73	$ 0.11
Net income per share - diluted	13.87	14.09	4.46
Income per share continuing operations - basic	11.40	13.46	4.37
Loss per share from discontinued operations	2.54	0.73	0.11
Net income per share - diluted	13.94	14.19	4.48
Income per share continuing operations - diluted	$ 11.34	$ 13.37	$ 4.35
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 885.0	$ 1,302.0	$ 484.0

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 19	$ 25
Asset Impairment Charges	0	(5)
Goodwill	19	19
Intangible Assets, Net (Excluding Goodwill)	49	55
Amortization of Intangible Assets	(5)	(5)
Intangible Assets, Net (Excluding Goodwill)	45	49
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)	$ 30	33
Amortization of Intangible Assets	(3)	(3)
Intangible Assets, Net (Excluding Goodwill)	28	30
Licensing Agreements [Member] \| CANADA
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	91
Trademarks [Member]
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	2	3
Amortization of Intangible Assets	0	0
Intangible Assets, Net (Excluding Goodwill)	2	2
Developed Technology Rights
Goodwill [Line Items]
Intangible Assets, Net (Excluding Goodwill)	17	19
Amortization of Intangible Assets	(2)	(2)
Intangible Assets, Net (Excluding Goodwill)	15	17
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	0	5
Asset Impairment Charges	0	(5)
Goodwill	0	$ 0
Entreka [Member]
Goodwill [Line Items]
Asset Impairment Charges	$ (5)

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Aug. 01, 2022	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses			$ 268	$ 0	$ 15
Equity method investment, realized gain on disposal			157	0	0
Long-term assets of discontinued operations			0	87
Capital expenditure, discontinued operations			3	6	7
Depreciation and amortization, discontinued operations			$ 3	$ 5	$ 4
Discontinued Operations, Disposed of by Sale \| EWP Segment Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		50.00%	50.00%
Proceeds from divestiture of interest in joint venture			$ 59
EWP Segment Assets \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses	$ 205
Disposal group, including discontinued operation, consideration	217
Discontinued operation, direct transaction costs	12
Long-term assets of discontinued operations	87
Gain on sale	$ 118
Discontinued operation, amount collected on purchaser's behalf			76
Amount due to purchaser			$ 10
EWP Segment Assets \| Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, support period	8 months
Resolute Forest Products Inc. [Member] \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses		$ 59
Equity method investments		19
Equity method investment, realized gain on disposal		$ 39

Discontinued Operations - Financial Results of EWP Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of income taxes	$ 198	$ 71	$ 12
Discontinued Operations, Held-for-sale \| EWP Segment Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	455	638	389
Cost of sales	(355)	(531)	(354)
Gross profit	101	107	35
Selling, general, and administrative expenses	(10)	(18)	(17)
Other operating credits and charges, net	0	0	3
Income from operations of discontinued operations	91	90	21
Other non-operating items	0	5	(4)
Gain on disposal before income taxes	158	0	0
Income from discontinued operations before income taxes	249	95	17
Provision for income taxes	(51)	(24)	(4)
Income from discontinued operations, net of income taxes	198	71	12
Net cash provided by discontinued operating activities	16	71	0
Net cash provided by (used in) discontinued investing activities	$ 261	$ (6)	$ (7)

Discontinued Operations - Balance Sheet Items (Details) - Discontinued Operations, Held-for-sale - EWP Segment Assets $ in Millions	Dec. 31, 2021 USD ($)
Carrying amounts of assets included as part of discontinued operations:
Accounts receivable, net	$ 22
Inventories	46
Timber and timberlands	42
Property, plant, and equipment, net	30
Operating lease assets	1
Investments in and advances to affiliates	14
Total assets classified as discontinued operations in the Consolidated Balance Sheet	156
Carrying amounts of liabilities included as part of discontinued operations:
Accounts payable and accrued liabilities	34
Other liabilities	42
Total liabilities classified as discontinued operations in the Consolidated Balance Sheet	$ 76

Noncontrolling Interests (Details) - USD ($) $ in Millions	12 Months Ended
Noncontrolling Interests (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Common, Fair Value	$ 0	$ 4	$ 10
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	(3)	(3)
Noncontrolling Interest, Impairment Charge	0	(1)
Noncontrolling Interest, Change in Redemption Value	$ 0	$ (1)	$ 2

Income Taxes Tax act (Details)	12 Months Ended
Income Taxes Tax act (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 961	$ 1,491	$ 503
Foreign	198	212	102
Income (loss) from continuing operations before income taxes, extraordinary items, noncontrolling interest	$ 1,159	$ 1,704	$ 605

- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126941158&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126953954&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 https://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 https://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 https://asc.fasb.org/extlink&oid=126901519&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 https://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, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal	$ 180	$ 284	$ 74
State and local	51	56	16
Foreign	42	56	29
Net current tax provision (benefit)	273	396	119
U.S federal	(1)	2	(3)
State and local	(4)	0	8
Foreign	12	4	(2)
Net valuation allowance increase (decrease)	(6)	0	(1)
Deferred income tax expense (benefit)	1	6	2
Provision (benefit) for income taxes	274	402	121
Income Taxes Paid		421	$ 70
Income taxes payable	19	13
Income Taxes Receivable, Current	4	1
Taxes Payable	$ 16	$ 12

Income Taxes Reconciliation of deferred taxes (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Accrued liabilities	$ 20.0	$ 20.0
Deferred Tax Assets, Deferred Expense, Capitalized Research and Development Costs	14.0	0.0
Pension and post-retirement benefits	1.0	4.0
Share-based compensation	6.0	4.0
Benefit of capital loss and NOL carryovers	6.0	7.0
Other	8.0	9.0
Inventory	9.0	8.0
Deferred Tax Liabilities, Leasing Arrangements	7.0	8.0
Valuation Allowance, Amount	(4.0)	(10.0)
Deferred Tax Assets, Net of Valuation Allowance	67.0	50.0
Deferred Tax Assets, Net	71.0	60.0
Property, plant and equipment	(152.0)	(112.0)
Timber and timberlands	7.0	8.0
Installment sale gain deferral	7.0	6.0
Total Deferred Tax Liabilities	(173.0)	(134.0)
Deferred Tax Liabilities, Net	(106.0)	(84.0)
Long-term deferred tax asset	(7.0)	(2.0)
Long-term deferred tax liability	$ (113.0)	$ (86.0)

Income Taxes NOL and credit carryovers (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 6.0	$ 7.0
Federal NOL carryover valuation allowance	(4.0)
Federal NOL carryover	7.0
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Domestic Subsidiaries	30.0
Operating Loss Carryforwards	8.0
State Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Federal NOL carryover valuation allowance	0.0
Federal NOL carryover	1.0
Operating Loss Carryforwards	0.0
Canadian Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	(4.0)
Federal NOL carryover	4.0
Operating Loss Carryforwards	0.0
Chile Capital Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Valuation Allowance	0.0
Federal NOL carryover	2.0
Operating Loss Carryforwards	$ 8.0

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Undistributed Earnings of Foreign Subsidiaries	$ 232
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%	3.00%
Uncertain tax positions	0.00%	0.00%	(4.00%)
Other, net	(1.00%)	(1.00%)	(1.00%)
Effective tax rate (%)	24.00%	24.00%	20.00%
Foreign tax rate
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effect of foreign tax rates / foreign exhchange	1.00%	1.00%	1.00%

Income Taxes Uncertain tax positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized Tax Benefits	$ 6	$ 9	$ 11	$ 38
Tax positions taken in current year	1	1	1
Tax positions taken in prior years	0	0	1
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	4	3	$ 29
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	$ 6

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 8
Operating Lease, Weighted Average Discount Rate, Percent	4.00%
Operating Lease, Cost	$ 10	$ 10
Operating lease assets	44	50
Leases of Lessee Disclosure [Text Block]	44	50
Operating Lease, Liability, Current	8	7
Non-current operating lease liabilities	41	44
Total lease liabilities	49	51
Operating Lease, Payments	9	8
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 4	$ 18
Operating Lease, Weighted Average Remaining Lease Term	11 years
Lessee, Operating Lease, Liability, Payments, Due Year Two	$ 6
Lessee, Operating Lease, Liability, Payments, Due Year Three	5
Lessee, Operating Lease, Liability, Payments, Due Year Four	5
Lessee, Operating Lease, Liability, Payments, Due Year Five	4
Lessee, Operating Lease, Liability, Payments, Due after Year Five	33
Lessee, Operating Lease, Liability, Payments, Due	63
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(13)
Operating Lease, Liability	$ 49
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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Mar. 31, 2021

Notes and Loans Payable [Abstract]

Long-term Debt, Gross

$ 350

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

(4)

Long-term debt

346

Current portion of long-term debt

Long term debt, Gross, Noncurrent

350

Long-term debt, excluding current portion

$ 346

346

Long-term Debt [Text Block]

LONG-TERM DEBT


		December 31, 2022						December 31, 2021
(Dollars in millions)	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	$	350	$	(4)	$	346
Amended Credit Facility, maturing 2028, interest rates variable	varies	—		—		—		—		—		—


Total		350		(4)		346		350		(4)		346
Less: current portion		—				—		—				—
Long-term portion		$	350	$	(4)	$	346	$	350	$	(4)	$	346

Senior Notes

Credit Facility

As of December 31, 2022, we were in compliance with all financial covenants under the 2029 Senior Notes, the Credit Agreement and the Letter of Credit Facility.


Years ending December 31,
2023	$	—
2024	—
2025	—
2026	—
2027	—
2028 and thereafter	350
Total	$	350

Senior unsecured notes, maturing 2024

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 350

Notes and Loans Payable [Abstract]

Notes Payable, Fair Value Disclosure

$ 306

358

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%

Long-term Debt, Gross

$ 350

350

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

(4)

Long-term debt

346

Revolving Credit Facility

Notes and Loans Payable [Abstract]

Long-term Debt, Gross

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

Long-term debt

$ 0

Line of Credit | Amended Credit Facility | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Line of Credit Facility, Maximum Borrowing Capacity

$ 550

Line of Credit | Amended Credit Facility | Minimum [Member] | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Debt instrument, commitment fee percentage

0.20%

Line of Credit | Amended Credit Facility | Minimum [Member] | Revolving Credit Facility | Base Rate

Notes and Loans Payable [Abstract]

Debt instrument, basis spread on variable rate

0.50%

Line of Credit | Amended Credit Facility | Minimum [Member] | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)

Notes and Loans Payable [Abstract]

Debt instrument, basis spread on variable rate

1.50%

Line of Credit | Amended Credit Facility | Maximum | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Debt instrument, commitment fee percentage

0.425%

Line of Credit | Amended Credit Facility | Maximum | Revolving Credit Facility | Base Rate

Notes and Loans Payable [Abstract]

Debt instrument, basis spread on variable rate

1.50%

Line of Credit | Amended Credit Facility | Maximum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)

Notes and Loans Payable [Abstract]

Debt instrument, basis spread on variable rate

2.50%

Line of Credit | Letter of Credit Facility | Letter of Credit

Notes and Loans Payable [Abstract]

Line of Credit Facility, Maximum Borrowing Capacity

$ 20

Line of Credit | Letter of Credit Facility | Minimum [Member] | Letter of Credit

Notes and Loans Payable [Abstract]

Debt Instrument, Fee, Percentage

0.50%

Line of Credit | Letter of Credit Facility | Maximum | Letter of Credit

Notes and Loans Payable [Abstract]

Debt Instrument, Fee, Percentage

1.875%

Letter of Credit Sub-limit | Amended Credit Facility | Revolving Credit Facility

Notes and Loans Payable [Abstract]

Line of Credit Facility, Maximum Borrowing Capacity

$ 60

Long-term Debt Narrative (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
Long-term Debt Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Sep. 30, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Amortization of financing costs and discounts			$ 1.0	$ 2.0	$ 2.0
Long-term Debt, Gross			$ 350.0	$ 350.0
Debt, weighted average interest rate			3.60%	3.60%
Write off of deferred debt issuance cost	$ 2.0			$ 2.0
Payments of debt issuance costs			$ 4.0
Redemption Premium	9.0			9.0
Amended Credit Facility
Debt Instrument [Line Items]
Amortization of financing costs and discounts			4.0
Senior unsecured notes, maturing 2024
Debt Instrument [Line Items]
Fair value of debt			306.0	358.0
Amount of loan issuance			350.0
Debt Instrument, Redemption Price, Percentage		102.438%
Senior unsecured notes, maturing 2029 \| Senior Notes
Debt Instrument [Line Items]
Amount of loan issuance	$ 350.0
Long-term Debt, Gross			$ 350.0	$ 350.0
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			$ 550.0
Debt Instrument, Covenant Terms, Capitalization Percentage			57.50%
Letter of Credit Facility \| Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 20.0
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, 2022	Dec. 31, 2021
2023	$ 0
2024	0
2025	0
2026	0
2027	0
2028 and thereafter	350
Total	$ 350	$ 350

Stockholders' Equity Preferred stock (Details)	Dec. 31, 2022 $ / 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, 2022	Dec. 31, 2021	Dec. 31, 2020
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)	$ 19	$ 16	$ 11
Income tax benefit related to stock-based compensation	8	3	2
Impact on cash flow due to taxes paid related to net share settlement of equity awards	(16)	$ (7)	$ (5)
Share repurchase program, remaining authorized repurchase amount	$ 200
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	4,000,000
Share-based Payment Arrangement, Additional Disclosure [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
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
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, 2022	Dec. 31, 2021	Dec. 31, 2020
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	$ 4.0	$ 8.0	$ 8.0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Options and SSARs
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, 2022	Dec. 31, 2021	Dec. 31, 2020
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	$ 42.0	$ 20.0	$ 13.0
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	182,989	239,329
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 17.59	$ 16.93
Options / SSARs granted	0
Options / SSARs exercised	(56,340)
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	$ 17.59
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value	$ 0
Options / SSARs exercisable	182,989
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	182,989
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	$ 17.59
Unrecognized stock compensation	$ 0.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 14.80
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	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	645,504	1,087,994
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 48.49	$ 36.39
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	258,124
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 66.59
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	(558,913)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 24.34
Unrecognized stock compensation	$ 15.0
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	(141,701)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 34.37
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year

Stockholders' Equity Share Repurchase Programs (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Share repurchase program, open market	(14)	21	6
Share repurchase program, open market, average price per share	$ 62.37	$ 61.52	$ 32.69
Share repurchase program, remaining authorized repurchase amount	$ 200
Treasury Stock, Value, Acquired, Cost Method	$ 900	$ 1,300	$ 200

Stockholders' Equity ESPP (Details) shares in Millions	12 Months Ended
Stockholders' Equity ESPP (Details) shares in Millions	Dec. 31, 2022 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, 2022	Dec. 31, 2021	Dec. 31, 2020	May 03, 2022	Nov. 02, 2021	May 04, 2021	Feb. 06, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, open market	(14)	21	6
Share repurchase program, open market, average price per share	$ 62.37	$ 61.52	$ 32.69
Share repurchase program, remaining authorized repurchase amount	$ 200
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
2022 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 600

Other Operating Credits and Charges, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain Contingencies [Line Items]
Reorganization charges	$ (7,000,000)	$ (1,000,000)	$ (5,000,000)
Reorganization Value, Net Realizable Value of Asset Dispositions	0	0	8,000,000
Insurance and environmental recoveries	(2,000,000)	(4,000,000)	3,000,000
Product Liability Accrual, Period Expense	8,000,000	0	0
Other Income	2,000,000	1,000,000	2,000,000
Other operating credits and charges, net	16,000,000	1,000,000	(7,000,000)
Canadian wage subsidies	0	0	6,000,000
Proceeds from Insurance Settlement, Operating Activities	$ 15,000,000	$ 4,000,000	$ 0

Other Operating Credits and Charges, Net Non-Operating Income and Expense (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Expense			$ 14,000,000	$ 15,000,000	$ 17,000,000
Amortization of financing costs and discounts			1,000,000	2,000,000	2,000,000
Interest Costs Capitalized Adjustment			5,000,000	3,000,000	0
Interest expense, net of capitalized interest			(11,000,000)	(14,000,000)	(19,000,000)
Investment Income, Interest and Dividend			14,000,000	1,000,000	2,000,000
Realized Investment Gains (Losses)			0	0	3,000,000
Interest Income, Other			0	0	(1,000,000)
Investment income			14,000,000	1,000,000	4,000,000
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component			6,000,000	1,000,000	1,000,000
Foreign Currency Transaction Gain (Loss), Realized			(11,000,000)	(8,000,000)	5,000,000
Loss on early debt extinguishment	$ 11,000,000		0	11,000,000	0
Loss due to settlement			82,000,000	2,000,000	0
Gain on Acquisition			2,000,000		0
Other nonoperating items			(97,000,000)	(22,000,000)	4,000,000
Redemption Premium	9,000,000			9,000,000
Write off of deferred debt issuance cost	$ 2,000,000			2,000,000
Severance Costs			7,000,000	1,000,000	5,000,000
Insurance Recoveries			15,000,000
Insurance and environmental recoveries			2,000,000	4,000,000	(3,000,000)
Proceeds from Insurance Settlement, Operating Activities			15,000,000	4,000,000	0
Reorganization Value, Net Realizable Value of Asset Dispositions					8,000,000
Canadian wage subsidies			$ 0	$ 0	$ 6,000,000
Entekra [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gain on Acquisition		$ 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)

Committments and Contingent Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 27	$ 25
Loss Contingency Accrual, Period Increase (Decrease)	(2)	(6)
Loss Contingency, Accrual, Current	1	1
Loss Contingency, Accrual, Noncurrent	26	24
Indemnity for liabilities other than environmental	15
SEC Schedule, 12-09, Reserve, Environmental Cost [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	27	25	$ 13
Loss Contingency Accrual, Period Increase (Decrease)	(2)	(7)
Payments for Environmental Liabilities	2	1
Hardboard Siding Reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	0	0
Environmental Reserves
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 27	$ 25

Product Warranty (Details) - USD ($) $ in Millions	12 Months Ended
Product Warranty (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning Balance	$ 7	$ 8
Accrued to expense during the year	3	1
Payments made	(3)	(2)
Ending Balance	8	7
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	$ 4	$ 5	$ 5
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax, Total	(71)	(5)	(8)
Defined Benefit Plan, Plan Assets, Contributions by Employer	5	0
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(247)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	5	(1)	3
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	62	2	$ 0
Defined Benefit Plan, Plan Assets, Payment for Settlement	247	$ 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Expected Gain (Loss) Due to Settlement and Curtailment	$ 6

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	$ 301	$ 319
Service cost	3	1	$ 1
Interest cost	7	7	9
Actuarial (gain)/loss	(47)	(8)
Foreign exchange rate changes	(2)	1
Benefits Paid	13
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(247)
End of year balance	3	301	319
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	296	310
Actual return on plan assets	(33)	5
Employer contribution	5	0
Foreign exchange rate changes	(2)	1
Fair value of plan assets, end of year balance	6	296	310
Funded status	2	(6)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	(1)	(95)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax	(6)	(6)
Total	(6)	(101)
Amounts Recognized in Balance Sheet [Abstract]
Noncurrent pension assets, included in “Other assets”	4	6
Current pension liabilities, included in “Accounts payable and accrued liabilities”	0	0
Noncurrent pension liabilities, included in “Other long-term liabilities”	(2)	(12)
Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Benefits Paid	13	19
Defined Benefit Plan, Plan Assets, Payment for Settlement	(247)	0
Total amounts recognized in other comprehensive income	(71)	(5)	(8)
Amortization of amounts included in net periodic benefit cost	1	5	2
Domestic stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	180
Fair value of plan assets, end of year balance		180
International stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	47
Fair value of plan assets, end of year balance		47
Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, end of year balance	0
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) \| 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, end of year balance	0
Fair Value, Inputs, Level 1 [Member]
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	58
Fair value of plan assets, end of year balance	6	58
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	0
Fair value of plan assets, end of year balance		0
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	0
Fair value of plan assets, end of year balance		0
Fair Value, Inputs, Level 1 [Member] \| Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, end of year balance	0
Fair Value, Inputs, Level 2
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	204
Fair value of plan assets, end of year balance	0	204
Fair Value, Inputs, Level 2 \| Domestic stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	180
Fair value of plan assets, end of year balance		180
Fair Value, Inputs, Level 2 \| International stock funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	13
Fair value of plan assets, end of year balance		13
Fair Value, Inputs, Level 2 \| Domestic bond funds
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, end of year balance	0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Amortization of amounts included in net periodic benefit cost	0	5	$ 5
Defined Benefit, US Plans [Member]
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	247
End of year balance	2	247
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	237
Fair value of plan assets, end of year balance	1	237
Funded status	$ 0	$ (11)
Weighted average assumptions for obligations as of measurement date [Abstract]
Discount rate	2.30%	2.60%
Defined Benefit, Canadian Plans [Member]
Change in Benefit Obligation [Roll Forward]
Beginning of year balance	$ 54
End of year balance	2	$ 54
Change in Assets (Fair Value) [Roll Forward]
Fair value of plan assets, beginning of year balance	59
Fair value of plan assets, end of year balance	4	59
Funded status	$ 3	$ 5
Weighted average assumptions for obligations as of measurement date [Abstract]
Discount rate	3.80%	2.60%

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 3	$ 1	$ 1
Interest cost	7	7	9
Expected return on plan assets	(7)	(13)	(14)
Amortization of prior service cost	1	1	1
Amortization of net actuarial loss	5	6	6
Net periodic pension cost before settlement	8	2	2
Loss due to settlement	82	2	0
Net periodic pension cost	91	4	2
Net periodic pension cost included in cost of sales	0	0	0
Net periodic pension cost included in selling, general, and administrative expenses	3	1	1
Net periodic pension cost included in other non-operating items	$ 88	$ 3	$ 1
Defined Benefit, Canadian Plans [Member]
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.60%	2.30%	3.00%
Expected return on plan assets	2.00%	2.30%	3.20%
Rate of compensation increase			3.50%
Defined Benefit, US Plans [Member]
Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.60%	2.30%	3.10%
Expected return on plan assets	3.00%	5.30%	5.80%

Retirement Plans and Post Retirement Benefits Asset Allocation and Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 6	$ 296	$ 310
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	6	58
Fair Value Measured at Net Asset Value Per Share [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	34
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	204
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		180
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		0
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		180
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		47
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		0
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		34
International stock funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		13
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	0
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
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
Domestic bond funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
Domestic bond funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
International bond funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
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
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	0
International bond funds \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
International bond funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	6	68
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	6	58
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	0	11
Cash and Cash Equivalents \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 0	$ 0

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plans [Abstract]
Expenses related to defined contribution plans and multiemployer plan	$ 23.0	$ 21.0	$ 15.0
Deferred Compensation Arrangements [Abstract]
Funded status	$ 2.0	(6.0)
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	8.00%
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 \| Debt 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%	76.00%
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	100.00%
Defined Benefit Plan, Actual Plan Asset Allocation	100.00%	24.00%
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	0.00%
Defined Benefit Plan, Actual Plan Asset Allocation	0.00%	22.00%
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	0.00%	59.00%
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	100.00%
Defined Benefit Plan, Actual Plan Asset Allocation	100.00%	19.00%
Other Postretirement Benefits Plan [Member]
Deferred Compensation Arrangements [Abstract]
Funded status	$ 7.0

Accumulated Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	$ 23	$ 2	$ 2
Accumulated comprehensive loss, net of tax, beginning of period	(99)	(174)	(151)	$ (153)
Amortization of amounts included in net periodic benefit cost	1	5	2
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	(2)	28	1
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	71	0	1
Accumulated comprehensive loss, net of tax, end of period	(99)	(174)	(151)	(153)
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	(5)	(76)	(81)	(89)
Amortization of amounts included in net periodic benefit cost	0	5	5
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	71	0	3
Accumulated comprehensive loss, net of tax, end of period	(5)	(76)	(81)	(89)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated comprehensive loss, net of tax, beginning of period	(94)	(96)	(68)	(67)
Amortization of amounts included in net periodic benefit cost	0	0	0
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	(2)	28	1
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0
Accumulated comprehensive loss, net of tax, end of period	(94)	(96)	(68)	(67)
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	0	(1)	(2)	3
Amortization of amounts included in net periodic benefit cost	1	0	(3)
Translation Adjustment Functional to Reporting Currency, Net of Tax, Period Increase (Decrease)	0	0	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	(2)
Accumulated comprehensive loss, net of tax, end of period	$ 0	$ (1)	$ (2)	$ 3

- 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) $ in Millions	12 Months Ended
Selected Segment Data (Details) $ in Millions	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Net sales	$ 3,854	$ 3,915	$ 2,399
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	1,083	1,373	497
Net loss attributed to noncontrolling interest	3	4	2
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	888	1,306	487
Provision for income taxes	274	402	121
Depreciation and amortization	129	114	106
Total stock-based compensation expense (costs of sales, selling, general and administrative, and other operating credits and charges, net)	19	16	11
Impairment of long-lived assets	1	5	15
Other operating credits and charges, net	(16)	(1)	7
Interest Expense, net	11	14	19
Investment Income, Nonoperating	(14)	(1)	(4)
Other nonoperating items	15	9	(4)
Adjusted EBITDA	1,389	1,877	757
Depreciation and amortization	129	114	107
Capital Expenditures	412	250	71
Reorganization Value, Net Realizable Value of Asset Dispositions			8
Loss due to settlement	82	2	0
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	885	1,302	484
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	$ 1,382	1,106	935
Number of Operating Segments \| segment	3
UNITED STATES
Segment Reporting Information [Line Items]
Net sales	$ 3,329	3,354	2,118
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	939	671	517
CANADA
Segment Reporting Information [Line Items]
Net sales	827	613	426
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	356	359	340
South America
Segment Reporting Information [Line Items]
Net sales	273	291	185
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	87	75	77
Intersegment sales
Segment Reporting Information [Line Items]
Net sales	(2)	(3)	(1)
Non-segment related
Segment Reporting Information [Line Items]
Depreciation and amortization	0	0	0
Capital Expenditures	21	4	1
Siding \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,469	1,170	959
Adjusted EBITDA	339	289	246
Depreciation and amortization	46	69	65
Capital Expenditures	316	177	34
OSB \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,062	2,387	1,220
Adjusted EBITDA	1,034	1,531	519
Depreciation and amortization	71	34	32
Capital Expenditures	53	47	25
South America \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	241	265	169
Adjusted EBITDA	77	113	42
Depreciation and amortization	8	8	7
Capital Expenditures	20	20	7
Other \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	84	95	52
Adjusted EBITDA	(23)	(20)	(19)
Depreciation and amortization	4	4	3
Capital Expenditures	1	2	4
Corporate Segment \| Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (38)	$ (36)	$ (30)

Segment Information Identifiable assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets	$ 2,350	$ 2,194
Non-segment related
Assets	589	608
OSB \| Operating Segments
Assets	491	521
Siding \| Operating Segments
Assets	1,045	705
South America \| Operating Segments
Assets	151	118
Other \| Operating Segments
Assets	$ 74	$ 86

- 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 https://asc.fasb.org/extlink&oid=126897435&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 https://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 https://asc.fasb.org/extlink&oid=126975872&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126975872&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 https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910

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

Reference 8: 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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

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 https://asc.fasb.org/extlink&oid=126975872&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 https://asc.fasb.org/extlink&oid=126975872&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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: 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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: 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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

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 https://asc.fasb.org/extlink&oid=126975872&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 https://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 https://asc.fasb.org/extlink&oid=126975872&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 https://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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

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 https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Segment Information Geographic Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	$ 3,854	$ 3,915	$ 2,399
Operating Income (Loss)	1,250	1,734	615
Other operating credits and charges, net and loss on impairments of assets	15	(5)	(23)
General corporate expense, loss on early debt extinguishment, other income (expense), interest, net and equity in unconsolidated affiliates	(139)	(77)	(48)
Income (loss) from continuing operations before income taxes, extraordinary items, noncontrolling interest	1,159	1,704	605
Provision for income taxes	(274)	(402)	(121)
Income from continuing operations	885	1,302	484
Net Income (Loss) Attributable to Noncontrolling Interest	(3)	(4)	(2)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	888	1,306	487
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	1,382	1,106	935
Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	(2)	(3)	(1)
UNITED STATES
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	3,329	3,354	2,118
Operating Income (Loss)	1,084	1,567	583
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	939	671	517
CANADA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	827	613	426
Operating Income (Loss)	129	112	57
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	356	359	340
South America
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	273	291	185
Operating Income (Loss)	70	106	36
Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile	87	75	77
Intersegment sales \| Intersegment sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total Sales	$ (575)	$ (344)	$ (330)

Label	Element	Value
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 0.16
Common Stock, Dividends, Per Share, Cash Paid	us-gaap_CommonStockDividendsPerShareCashPaid	$ 0.18