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Other Operating Credits and Charges, Net
 6 Months Ended
Jun. 30, 2013
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 second quarter and six months ended June 30, 2013 and June 30, 2012 are reflected in the table below and are described in the paragraphs following the table:
 
Quarter Ended June 30,
 
Six Months Ended June 30,
Dollar amounts in millions
2013
 
2012
 
2013
 
2012
Other operating charges and credits net:
 
 
 
 
 
 
 
   Adjustment related to prior year inventory
$
—

 
$
—

 
$
(1.6
)
 
$
—

   Adjustment related to prior year depreciation
(1.5
)
 
—

 
(1.5
)
 
—

   Construction related legal reserve
—

 
—

 
—

 
0.5

   Addition to warranty reserves
(4.1
)
 
—

 
(4.1
)
 
—

   Other
0.2

 
(0.2
)
 
0.2

 
(0.5
)
 
$
(5.4
)
 
$
(0.2
)
 
$
(7.0
)
 
$
—

Other operating charges and credits associated with unconsolidated affiliates:
 
 
 
 
 
 
 
   Valuation allowance associated with deferred taxes
$
(1.8
)
 
$
—

 
$
(1.8
)
 
$
—

   Addition to contingency reserves
(0.9
)
 
—

 
(0.9
)
 
—

 
$
(2.7
)
 
$
—

 
$
(2.7
)
 
$
—

 
$
(8.1
)
 
$
(0.2
)
 
$
(9.7
)
 
$
—


During the first quarter of 2013, LP recorded a loss of $1.6 million related to a prior year inventory adjustment.
During the second quarter of 2013, LP recorded a loss of $1.5 million related to a correction of prior years depreciation amounts associated with LP's South American operations and a loss of $4.1 million related to an increase in product related warranty reserves associated with Canexel products sold in certain geographic areas from 2004 through 2008.
During the first six months of 2012, LP recorded an expense of $0.3 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 expense associated with an assessment in connection with one of its indefinitely curtailed OSB mills.
Additionally, other operating charges and credits included in Equity in (income) loss from unconsolidated affiliates is a charge of $1.8 million associated with a valuation allowance on the joint venture's books associated with deferred tax assets as well as a loss $0.9 million associated with the recording of a contingent liability from past years.