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Selected Segment Data
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Selected Segment Data SELECTED SEGMENT DATA
We operate in three segments: Siding, OSB, and LPSA. Our business units have been aggregated into these three segments based upon the similarity of economic characteristics, customers, and distribution methods. Our results of operations are summarized below for each of these segments separately, as well as for the “Other” category, which comprises other products that are not individually significant.
•The Siding segment serves diverse end markets with a broad product portfolio of engineered wood siding, trim, soffit, and fascia, including LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions® (collectively referred to as Siding Solutions).
•The OSB segment manufactures and distributes OSB structural panel products, including the innovative value-added OSB product portfolio known as LP® Structural Solutions (which includes LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, LP NovaCore® Thermal Insulated Sheathing, LP® FlameBlock® Fire-Rated Sheathing, and LP® TopNotch® 350 Durable Sub-Flooring).
•The LPSA segment manufactures and distributes OSB structural panel and Siding Solutions products in South America and certain export markets. This segment also sells and distributes a variety of companion products to support the region’s transition to wood frame construction. The LPSA segment carries out manufacturing operations in Chile and Brazil and operates sales offices in Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, and Peru.
We evaluate the performance of our business segments based on net sales and segment Adjusted EBITDA. Accordingly, our chief operating decision maker, the chief executive officer, 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 excluding interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense, loss on impairment attributed to LP, business exit credits and charges, product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, pension settlement charges, other non-operating items, income from discontinued operations, net of income taxes, and net income attributed to noncontrolling interest.
Information about our business segments is as follows (dollar amounts in millions):
Three Months Ended March 31, 2025
SidingOSBLPSASegment TotalOtherConsolidated
Net sales$402 $267 $52 $722 $2 $724 
Cost of sales(276)(211)(37)(524)(3)(526)
Selling, general, and administrative expenses(42)(16)(6)(64)(11)(75)
Adjustments to Adjusted EBITDA:
Depreciation and Amortization20 13 2 35 — 35 
Other charges1
1 1 1 3 2 5 
Adjusted EBITDA$106 $54 $12 $172 $(10)$162 
Three Months Ended March 31, 2024
SidingOSBLPSASegment TotalOtherConsolidated
Net sales$361 $313 $47 $721 $3 $724 
Cost of sales(254)(219)(35)(508)(3)(511)
Selling, general, and administrative expenses(36)(16)(5)(56)(13)(69)
Adjustments to Adjusted EBITDA:
Depreciation and Amortization18 11 2 31 — 31 
Other charges1
2 1 — 2 5 7 
Adjusted EBITDA$90 $90 $10 $190 $(8)$182 
1 Other charges includes stock compensation and income from equity in unconsolidated affiliates.
 Three Months Ended March 31,
20252024
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income$91 $108 
Add (deduct):
Provision for income taxes26 41 
Depreciation and amortization35 31 
Stock-based compensation expense5 6 
Other operating credits and charges, net2 — 
Business exit credits— (1)
Interest expense3 4 
Investment income(4)(6)
Other non-operating items5 (1)
Adjusted EBITDA$162 $182 
Information concerning identifiable assets by segment is as follows (dollar amounts in millions):
March 31, 2025December 31, 2024
Identifiable Assets
Siding$1,352 $1,319 
OSB567 554 
LPSA151 145 
Other500 551 
Total assets$2,570 $2,569 
Other segment related assets include cash and cash equivalents, short-term and long-term investments, corporate assets, and other items.