Company: LPX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000060519-25-000005
Chunk: 89

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 89
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 $11 million, which was recorded within equity in unconsolidated affiliate on the Consolidated Statements of Income. Business exit credits and charges, net consisted of the following (dollar amounts in millions):Year Ended December 31,20242023Impairment of property, plant and equipment, operating lease assets, and other intangible assets1$— $(24)Gain on sale of assets from an equity method investment2$11 $— Restructuring and other related charges:Inventory write-down3— (7)Other expenses including personnel-related costs such as severance43 (1)Total Business exit credits and charges$14 $(32)1Included within impairment of long-lived assets on the Consolidated Statements of Income.2Included within equity in unconsolidated affiliate on the Consolidated Statements of Income.3Included within cost of sales on the Consolidated Statements of Income.

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4Included within other operating credits and charges, net on the Consolidated Statements of Income.

8.    INCOME TAXES

Income Tax ProvisionThe components of income from continuing operations before income taxes, including equity in unconsolidated affiliates, were (dollars in millions): Years Ended December 31,202420232022Domestic$469 $207 $961 Foreign91 45 198 Total$560 $252 $1,159 The components of our income tax provision (benefit) from continuing operations were (dollars in millions): Years Ended December 31,202420232022Current tax provision (benefit):U.S. federal$97 $17 $180 State and local18 (1)51 Foreign29 14 42 Net current tax provision144 30 273 Deferred tax provision (benefit):U.S. federal(8)22 (1)State and local(3)1 (4)Foreign2 21 12 Net valuation allowance increase (decrease)5 — (6)Net deferred tax provision (benefit)(4)44 1 Total income tax provision$140 $74 $274 We paid income taxes, net of refunds, of $124 million, $65 million, and $320 million during 2024, 2023, and 2022, respectively. Included in our Consolidated Balance Sheet at December 31, 2024 is a net income tax receivable of $1 million, compared to a