Selected Segment Data (Tables)

9 Months Ended

Sep. 30, 2025

Information regarding the Company’s business segments is presented below (dollar amounts in millions):


	Three Months Ended September 30, 2025
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	443	$	179	$	39	$	661	$	2	$	663
Cost of sales	(301)		(203)		(27)		(531)		(3)		(534)
Selling, general, and administrative expenses	(48)		(18)		(9)		(75)		(20)		(95)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	20		14		2		36		—		36
Other charges1	3		1		—		5		8		12
Adjusted EBITDA	$	117	$	(27)	$	5	$	95	$	(13)	$	82
	Three Months Ended September 30, 2024
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	420	$	253	$	47	$	720	$	2	$	722
Cost of sales	(280)		(215)		(32)		(527)		(2)		(530)
Selling, general, and administrative expenses	(38)		(17)		(6)		(61)		(15)		(75)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	19		11		1		31		—		31
Other charges1	1		1		—		2		3		5
Adjusted EBITDA	$	123	$	33	$	9	$	165	$	(12)	$	153
	Nine Months Ended September 30, 2025
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	1,305	$	696	$	134	$	2,135	$	6	$	2,141
Cost of sales	(890)		(643)		(95)		(1,628)		(9)		(1,637)
Selling, general, and administrative expenses	(133)		(52)		(21)		(206)		(44)		(250)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	60		40		6		106		—		106
Other charges1	6		4		2		12		13		25
Adjusted EBITDA	$	348	$	46	$	25	$	419	$	(33)	$	386
	Nine Months Ended September 30, 2024
	Siding		OSB		LPSA		Segment Total		Other		Consolidated
Net sales	$	1,196	$	917	$	140	$	2,253	$	7	$	2,261
Cost of sales	(825)		(656)		(101)		(1,583)		(8)		(1,591)
Selling, general, and administrative expenses	(113)		(47)		(14)		(174)		(41)		(215)
Adjustments to Adjusted EBITDA:
Depreciation and amortization	55		33		4		92		—		93
Other charges1	4		2		—		6		10		17
Adjusted EBITDA	$	318	$	249	$	29	$	594	$	(32)	$	564

1 Other charges includes stock compensation and income from equity in unconsolidated affiliates.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
NET INCOME TO ADJUSTED EBITDA RECONCILIATION
Net income	$	9	$	90	$	154	$	358
Add (deduct):



Provision for income taxes	9		23		54		117
Depreciation and amortization	36		31		106		93
Stock-based compensation expense	12		4		24		15
Loss on impairment	13		—		31		—
Other operating credits and charges, net	1		1		5		2
Business exit credits and charges	1		—		1		(14)

Interest expense	4		4		11		12
Investment income	(5)		(6)		(12)		(17)

Other non-operating items	1		4		13		(2)
Adjusted EBITDA	$	82	$	153	$	386	$	564

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