Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share (dollar and share amounts in millions, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Income from continuing operations	$	129	$	332	$	898	$	1,134
Net loss attributed to noncontrolling interest	—		—		1		1
Income attributed to LP from continuing operations	129		332		898		1,135
Income for discontinued operations, net of income taxes	97		33		196		47
Net income attributed to LP	$	226	$	365	$	1,094	$	1,183
Weighted average common shares outstanding - basic	74		94		80		100
Dilutive effect of employee stock plans	—		—		1		1
Shares used for diluted earnings per share	74		94		80		101
Net income attributed to LP per share - basic:
Continuing operations	$	1.75	$	3.55	$	11.23	$	11.34
Discontinued operations	1.32		0.35		2.45		0.47
Net income attributed to LP per share - basic	$	3.07	$	3.90	$	13.67	$	11.81
Net income attributed to LP per share – diluted:
Continuing operations	$	1.74	$	3.52	$	11.16	$	11.26
Discontinued operations	1.31		0.35		2.43		0.47
Net income attributed to LP per share - diluted	$	3.05	$	3.87	$	13.59	$	11.73