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Other Operating Credits and Charges, Net
 9 Months Ended
Sep. 30, 2012
Other Operating Credits And Charges, Net [Abstract]  
Other Operating Credits and Charges, Net
OTHER OPERATING CREDITS AND CHARGES, NET
The major components of “Other operating credits and charges, net” in the Consolidated Statements of Income for the third quarter and nine months ended September 30, 2012 and September 30, 2011 are reflected in the table below and are described in the paragraphs following the table:
 
Quarter Ended September 30,
 
Nine Months Ended September 30,
Dollar amounts in millions
2012
 
2011
 
2012
 
2011
Severance
$
(0.2
)
 
$
(0.4
)
 
$
(0.7
)
 
$
(0.4
)
Construction related legal reserve
—

 
(0.5
)
 
0.5

 
(0.5
)
Addition to environmental reserves
—

 
—

 
—

 
(0.9
)
Addition to warranty reserves
(1.0
)
 
—

 
(1.0
)
 
—

Reduction to product related contingency reserves
—

 
10.7

 
—

 
10.7

Timber related reserves
—

 
—

 
—

 
1.5

Settlement of legal claim
—

 
—

 
—

 
0.8

 
$
(1.2
)
 
$
9.8

 
$
(1.2
)
 
$
11.2


During the third quarter of 2012, LP recorded a loss of $1.0 million related to an increase in product related warranty reserves associated with Canexel products sold in Europe in prior years.
LP recorded losses of $0.2 million and $0.7 million during the third quarter and first nine months of 2012 associated with severance related to an indefinitely curtailed OSB mill in British Columbia.
During the third quarter and first nine months of 2011 LP recorded a loss of $0.4 million associated with severance related to an indefinitely curtailed OSB mill in British Columbia, Canada as well as a reversal of a $0.5 million loss associated with an assessment in connection with one of its indefinitely curtailed OSB mills.
During the third quarter of 2011, LP recorded a gain of $10.7 million related to a reduction in product related contingency reserves associated with the National hardboard class action settlement.
During the first nine months of 2011, LP recorded a gain of $1.5 million related to reductions in reforestation liabilities associated with LP's Canadian timber obligations, and an increase of $0.9 million in environmental reserves associated with a facility currently held for sale and a gain of $0.8 million related to an action against a previous claims inspector associated with LP’s hardboard class action for various states.