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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Net sales $ 584 $ 1,167
Cost of sales (483) (547)
Gross Profit 101 620
Selling, general, and administrative expenses (66) (62)
Other Operating Charges And Credits, Net (5) (1)
Income from operations 30 556
Non-operating income (expense):    
Interest Expense (3) (3)
Investment income 5 1
Other non-operating items (8) (10)
Income before income taxes 23 544
Provision for income taxes (1) (124)
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions 0 1
Income from continuing operations 22 421
Income from discontinued operations, net of income taxes 0 62
Net income 22 483
Net (income) loss attributed to noncontrolling interest (1) 1
Net income attributed to LP $ 21 $ 484
Net income attributed to LP per share of common stock:    
Income per share continuing operations - basic (in dollars per share) $ 0.29 $ 4.92
Income per share discontinued operations - basic (in dollars per share) 0 0.72
Net income per share - basic (in dollars per share) 0.29 5.64
Income per share continuing operations - diluted (in dollars per share) 0.29 4.89
Income per share discontinued operations - diluted (in dollars per share) 0 0.71
Net income per share - diluted (in dollars per share) $ 0.29 $ 5.60
Average shares of common stock used to compute net income per share:    
Basic (in shares) 72 86
Diluted (in shares) 72 86