Goodwill and Other Intangible Assets (Notes)

6 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in goodwill for the second quarter and the six months ended June 30, 2013 are provided in the following table:

Dollar amounts in millions	2013
Beginning balance	$	—
Additions	9.7
Total goodwill	$	9.7

LP has recorded other intangible assets in its Consolidated Balance Sheets, as follows:

Dollar amounts in millions	June 30, 2013		December 31, 2012
Timber licenses (recorded as part of Timber and timberlands)	$	69.9	$	36.6
Customer relationships, net of amortization	0.2		0.5
Other	0.1		0.1
Total	$	70.2	$	37.2

Customer relationships and other intangibles are included in Other assets in the Consolidated Balance Sheet.

Amortization of the above intangible assets over the next five years is as follows:

Dollar amounts in millions
2013	$	2.9
2014	2.9
2015	3.6
2016	3.6
2017	3.6

During the second quarter of 2013, LP completed the acquisition of the Peace Valley OSB joint venture. The acquisition resulted in the recognition of $9.7 million of goodwill and included timber licenses of $34.1 million. See Note 19 for further discussion.