Louisiana-Pacific Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Louisiana-Pacific Corp. has filed its 2023 10-K report detailing its financial performance and position as of December 31, 2023.</b>

AI Summary

LOUISIANA-PACIFIC CORP (LPX) filed a Annual Report (10-K) with the SEC on February 14, 2024. Louisiana-Pacific Corp. filed its annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located in Nashville, TN. The filing includes financial data for the fiscal years 2023, 2022, and 2021. The report details various financial statement line items and equity components.

Why It Matters

For investors and stakeholders tracking LOUISIANA-PACIFIC CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Louisiana-Pacific's financial health and operational results for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial statements and disclosures within the report are essential for understanding the company's revenue, expenses, assets, liabilities, and equity, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — LOUISIANA-PACIFIC CORP shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the specific financial performance and market conditions detailed within it will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis in the 10-K to understand Louisiana-Pacific's performance drivers and outlook for 2024.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-14 — Filing Date (Date of submission)
• 2023 — Fiscal Year (Primary year covered by the report)
• 2022 — Prior Fiscal Year (Comparative year)
• 2021 — Prior Fiscal Year (Comparative year)

Key Players & Entities

• LOUISIANA-PACIFIC CORP (company) — Filer name
• LPX (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-02-14 (date) — Filing date
• Nashville, TN (location) — Business address city and state

FAQ

Industry Context

Louisiana-Pacific Corp. operates in the lumber and wood products industry, manufacturing and selling building products.

Regulatory Implications

The filing is a standard Form 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the consolidated financial statements for the fiscal years ended December 31, 2023, 2022, and 2021.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers.
3. Examine any disclosed risk factors and their potential impact on the company's future operations.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-14: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing for the fiscal year 2023, providing the latest annual financial data and disclosures.

Key Financial Figures

• $1 — ange on Which Registered Common Stock, $1 par value LPX New York Stock Exchange
• $80 million — Ontario, Canada from a third party for $80 million. We anticipate converting the Wawa manu

Filing Documents

• lpx-20231231.htm (10-K) — 2264KB
• lpx12312023ex21.htm (EX-21) — 4KB
• lpx12312023ex23.htm (EX-23) — 3KB
• lpx12312023ex311.htm (EX-31.1) — 9KB
• lpx12312023ex312.htm (EX-31.2) — 10KB
• lpx12312023ex32.htm (EX-32) — 7KB
• clawbackpolicyeffectived.htm (EX-97) — 15KB
• clawbackpolicyeffectived001.jpg (GRAPHIC) — 203KB
• clawbackpolicyeffectived002.jpg (GRAPHIC) — 250KB
• clawbackpolicyeffectived003.jpg (GRAPHIC) — 268KB
• clawbackpolicyeffectived004.jpg (GRAPHIC) — 141KB
• clawbackpolicyeffectived005.jpg (GRAPHIC) — 88KB
• lpx-20231231_g1.jpg (GRAPHIC) — 100KB
• lpx-20231231_g2.jpg (GRAPHIC) — 77KB
• 0001628280-24-004714.txt (&nbsp;) — 15087KB
• lpx-20231231.xsd (EX-101.SCH) — 75KB
• lpx-20231231_cal.xml (EX-101.CAL) — 93KB
• lpx-20231231_def.xml (EX-101.DEF) — 492KB
• lpx-20231231_lab.xml (EX-101.LAB) — 1131KB
• lpx-20231231_pre.xml (EX-101.PRE) — 789KB
• lpx-20231231_htm.xml (XML) — 2242KB

BUSINESS

Item 1 BUSINESS 5 INFORMATION ABOUT OUR EXECUTIVE OFFICERS 13

RISK FACTORS

Item 1A RISK FACTORS 14

UNRESOLVED STAFF COMMENTS

Item 1B UNRESOLVED STAFF COMMENTS 26

CYBERSECURITY

Item 1C CYBERSECURITY 27

PROPERTIES

Item 2 PROPERTIES 29

LEGAL PROCEEDINGS

Item 3 LEGAL PROCEEDINGS 30

MINE SAFETY DISCLOSURES

Item 4 MINE SAFETY DISCLOSURES 30 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

Item 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES 31

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Item 7 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 32

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Item 7A QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 45

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Item 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 46

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Item 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 89

CONTROLS AND PROCEDURES

Item 9A CONTROLS AND PROCEDURES 89

OTHER INFORMATION

Item 9B OTHER INFORMATION 91

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

Item 9C DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 91 PART III

* DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Item 10* DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 92

* EXECUTIVE COMPENSATION

Item 11* EXECUTIVE COMPENSATION 92

* SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Item 12* SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 92

* CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Item 13* CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 93

* PRINCIPAL ACCOUNTANT FEES AND SERVICES

Item 14* PRINCIPAL ACCOUNTANT FEES AND SERVICES 93 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

Item 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 94

FORM 10-K SUMMARY

Item 16 FORM 10-K SUMMARY 96 * All or a portion of the referenced section is incorporated by reference from our Definitive Proxy Statement for our 2024 Annual Meeting of Stockholders (which is expected to be filed with the SEC within 120 days after the end of our 2023 fiscal year). 4 PART I

Business

ITEM 1. Business GENERAL We are a leading provider of high-performance building solutions that meet the demands of builders, remodelers, and homeowners worldwide. Serving the new home construction, repair and remodeling, and outdoor structures markets, we have leveraged our expertise to become an industry leader known for innovation, quality, reliability, and sustainability. The principal customers for our building solutions are retailers, wholesalers, and home building and industrial businesses in North America and South America, with limited sales in Asia, Australia, and Europe. Since our founding in 1972, LP has been Building a Better World by helping customers construct beautiful and durable homes. We are headquartered in Nashville, Tennessee, and as of December 31, 2023, we operated 23 plants across the U.S., Canada, Chile, and Brazil. The table below summarizes the relative sizes of our business segments in 2023: Segment Net Sales (in millions) Percentage of 2023 Net Sales Siding $ 1,328 51 % Oriented Strand Board (OSB) 1,026 40 % LP South America (LPSA) 205 8 % Other 22 1 % $ 2,581 OUR BUSINESS SEGMENTS Siding We believe that we are the largest producer of engineered wood siding in North America. Our Siding segment serves diverse end markets with a broad product offering, including LP SmartSide Trim & Siding, LP SmartSide ExpertFinish Trim & Siding, LP BuilderSeries Lap Siding, and LP Outdoor Building Solutions (collectively referred to as Siding Solutions). Our Siding Solutions products consist of a full line of engineered wood siding, trim, soffit, and fascia. As compared to solid wood, these products offer superior protection against hail, wind, moisture, fungal decay, and termites. The LP SmartSide environmental product declarations (EPDs), which detail the cradle-to-grave energy and materials required to produce LP SmartSide Lap, Panel and Trim in North America, demonstrate that the product stores more carbon than is released during its

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View this 10-K filing on SEC EDGAR