v3.26.3
Selected Segment Data
 9 Months Ended
Sep. 30, 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 Oriented Strand Board (OSB). Other comprises our South American operations and other products and services 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, 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 September 30, 2026
SidingOSBTotal
Revenues from external customers$473 $180 $653 
Reconciliation of revenue
Other revenues1
38 
Total consolidated revenues$691 
Less:
Cost of sales(336)(203)
Selling, general, and administrative expenses(42)(16)
Depreciation and amortization23 14 
Other segment items2
2 1 
Reportable segment Adjusted EBITDA$119 $(24)$94 
Three Months Ended September 30, 2025
SidingOSBTotal
Revenues from external customers$443 $179 $622 
Reconciliation of revenue
Other revenues1
41 
Total consolidated revenues$663 
Less:
Cost of sales(301)(203)
Selling, general, and administrative expenses(48)(18)
Depreciation and amortization20 14 
Other segment items2
3 1 
Reportable segment Adjusted EBITDA$117 $(27)$90 
1 Other revenues include sales from the Company’s South American operations and other products and services that are not individually significant.
2 Other segment items include stock compensation expense.
Nine Months Ended September 30, 2026
SidingOSBTotal
Revenues from external customers$1,274 $530 $1,804 
Reconciliation of revenue
Other revenues1
125 
Total consolidated revenues$1,929 
Less:
Cost of sales(889)(581)
Selling, general, and administrative expenses(125)(49)
Depreciation and amortization67 40 
Other segment items2
5 3 
Reportable segment Adjusted EBITDA$333 $(58)$275 
Nine Months Ended September 30, 2025
SidingOSBTotal
Revenues from external customers$1,305 $696 $2,001 
Reconciliation of revenue
Other revenues1
140 
Total consolidated revenues$2,141 
Less:
Cost of sales(890)(643)
Selling, general, and administrative expenses(133)(52)
Depreciation and amortization60 40 
Other segment items2
6 4 
Reportable segment Adjusted EBITDA$348 $46 $393 
1 Other revenues include sales from the Company’s South American operations and other products and services that are not individually significant.
2 Other segment items include stock compensation expense.
The following table presents significant items and reconciles reportable segment Adjusted EBITDA to income before income taxes (dollar amounts in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Reconciliation of profit (loss)
Reportable segment Adjusted EBITDA
$94 $90 $275 $393 
Add (deduct):
Other Adjusted EBITDA1
(12)(8)(31)(7)
Equity in unconsolidated affiliate— — — (1)
Depreciation and amortization(38)(36)(115)(106)
Stock-based compensation expense(6)(12)(18)(24)
Loss on impairment— (13)— (31)
Other operating credits and charges, net(9)(1)(15)(5)
Product-line discontinuance charges— (1)(1)(1)
Interest expense(4)(4)(12)(11)
Investment income2 5 11 12 
Other non-operating (expense) income4 (1)8 (13)
Income before income taxes
$31 $18 $101 $207 
1 Other Adjusted EBITDA includes the Company’s South American operations, unallocated corporate expenses, and other products and services that are not individually significant.
Information concerning identifiable assets by segment is as follows (dollar amounts in millions):
September 30, 2026December 31, 2025
Identifiable Assets
Siding$1,472 $1,419 
OSB513 531 
Total segment assets1,986 1,950 
Other 1
661 677 
Total assets$2,646 $2,627 
1 Other assets include cash and cash equivalents, accounts receivable, South American assets, short-term and long-term investments, corporate assets, and other items.