Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2022

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Earnings Per Share [Text Block]

Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is based upon the weighted average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents (stock options, SSARs, restricted stock or units, and performance stock units) be excluded from the calculation of diluted earnings per share for the periods in which losses from continuing operations are reported because the effect is anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share (dollars and shares in millions):

	Year Ended December 31,
	2022		2021		2020
Income from continuing operations	$	885	$	1,302	$	484
Net loss attributed to noncontrolling interest	3		4		2
Income attributed to LP from continuing operations	888		1,306		487
Income for discontinued operations, net of income taxes	198		71		12
Net income attributed to LP	$	1,086	$	1,377	$	499
Weighted average common shares outstanding - basic	78		97		111
Dilutive effect of employee stock plans	—		1		1
Shares used for diluted earnings per share	78		98		112
Net income attributed to LP per share - basic:
Continuing operations	$	11.40	$	13.46	$	4.37
Discontinued operations	2.54		0.73		0.11
Net income attributed to LP per share - basic	$	13.94	$	14.19	$	4.48
Net income attributed to LP per share – diluted:
Continuing operations	$	11.34	$	13.37	$	4.35
Discontinued operations	2.52		0.73		0.11
Net income attributed to LP per share - diluted	$	13.87	$	14.09	$	4.46