v3.26.1
Selected Segment Data
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Selected Segment Data SELECTED SEGMENT DATA
The Company defines its operating segments as those operations that engage in business activities from which revenues are earned and expenses incurred, for which discrete financial information is available, and that are regularly reviewed to analyze performance and allocate resources by the chief operating decision maker ("CODM"), the Company's Chief Executive Officer. The Company conducts business through two reportable segments: Siding and OSB. Other comprises our South American operations and other products that are not individually significant.
•The Siding segment serves diverse end markets with a broad product portfolio of engineered wood siding, trim, soffit, and fascia. Our Siding is offered primed (LP® SmartSide® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions®) and prefinished (LP® SmartSide® ExpertFinish® Trim & Siding) to meet the needs of builders and installers in new construction and repair and remodeling applications.
•The OSB segment manufactures and distributes OSB structural panel products, including the innovative value-added OSB product portfolio known as LP® Structural Solutions (which includes LP® FlameBlock® Fire-Rated Sheathing, LP BurnGuard™ FRT OSB, LP WeatherLogic® Air & Water Barrier, LP® TechShield® Radiant Barrier Sheathing, LP Legacy® Premium Sub-Flooring, and LP® TopNotch® 350 Durable Sub-Flooring).
The results of our business segments are evaluated based on segment Adjusted EBITDA, which the CODM uses to assess performance and make decisions regarding the allocation of operating and capital resources. Additionally, the budgeting and forecasting process monitors budget versus actual results, with emphasis on Adjusted EBITDA. Segment Adjusted EBITDA is defined as income attributed to LP excluding interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense, loss on impairment, business exit credits and charges, product-line discontinuance charges, other operating credits and charges, net, loss on early debt extinguishment, investment income, pension settlement charges, other non-operating income (expense), income from discontinued operations, net of income taxes, and net income attributed to noncontrolling interest.
Information regarding the Company’s business segments is presented below (dollar amounts in millions):
Three Months Ended March 31, 2026
SidingOSB
Total
Revenues from external customers
$360 $168 $528 
Reconciliation of revenue
Other revenues1
46 
Total consolidated revenues
$574 
Less:
Cost of sales(244)(179)
Selling, general, and administrative expenses(39)(17)
Depreciation and amortization
22 14 
Other segment items2
2 1 
Reportable segment Adjusted EBITDA
$101 $(12)$89 
Three Months Ended March 31, 2025
SidingOSB
Total
Revenues from external customers
$402 $267 $669 
Reconciliation of revenue
Other revenues1
54 
Total consolidated revenues
$724 
Less:
Cost of sales(276)(211)
Selling, general, and administrative expenses(42)(16)
Depreciation and amortization
20 13 
Other segment items2
1 1 
Reportable segment Adjusted EBITDA
$106 $54 $160 
1 Other revenues include sales from the Company's South American operations and other minor products and services.
2 Other segment items include stock compensation expense.
 Three Months Ended March 31,
20262025
Reconciliation of profit (loss)
Reportable segment Adjusted EBITDA
$89 $160 
Add (deduct):
Other Adjusted EBITDA1
(7)2 
Depreciation and amortization(38)(35)
Stock-based compensation expense(7)(5)
Other operating credits and charges, net2
(2)(2)
Product-line discontinuance charges2
(1)— 
Interest expense(4)(3)
Investment income2 4 
Other non-operating (expense) income2
3 (5)
Income before income taxes
$36 $116 
1Other Adjusted EBITDA includes the Company's South American operations, unallocated corporate expenses, and other minor products and services.
2See further discussion in “Note 7 - Other Operating and Non-Operating Items” of the Notes to the Condensed Consolidated Financial Statements.
Information concerning identifiable assets by segment is as follows (dollar amounts in millions):
March 31, 2026December 31, 2025
Identifiable Assets
Siding$1,467 $1,419 
OSB539 531 
Other574 677 
Total assets$2,581 $2,627 
Other segment related assets include cash and cash equivalents, accounts receivable, short-term and long-term investments, corporate assets, and other items.