Company: LPX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038227
Chunk: 7

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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  Trade accounts payable                                          $      156                      $      139  
  Salaries and wages payable                                     57                              80           
  Accrued customer incentives                                    51                              48           
  Taxes other than income taxes                                   9                               4           
  Current portion of operating lease liabilities                  8                               8           
  Other accrued liabilities                                       9                               9           
  Total Accounts payable and accrued liabilities                  $      290                      $      287  

Other accrued liabilities at June 30, 2025, and December 31, 2024, primarily consisted of accrued interest, worker compensation liabilities, and warranty reserves. Additionally, trade accounts payable included $ 26 32

NOTE 9. INCOME TAXES

For interim periods, income tax expense is recognized by applying the estimated annual effective tax rate to year-to-date results, unless doing so does not yield a reliable estimate. Each period, the income tax accrual is updated based on the latest estimate, and any difference from the previously accrued year-to-date balance is recorded in the current quarter. Changes in profitability estimates across jurisdictions may affect quarterly effective tax rates.

The provision for income taxes for the six months ended June 30, 2025, and 2024, reflected estimated annual effective tax rates of 26 25 19 45 53 94 26 24 25 26

During the six months ended June 30, 2025, a net discrete tax benefit of $ 4 4

In 2021, the Organization for Economic Cooperation and Development (OECD) announced an Inclusive Framework on Base Erosion and Profit Shifting, including the Pillar Two Model Rules (Pillar Two), applicable to large multinational corporations. These rules establish a global per-country minimum tax of 15%. Although, the United States has not enacted legislation to adopt the Pillar Two framework, and future adoption remains uncertain, certain countries where operations are conducted have enacted such legislation.

Specifically, the Canadian government enacted legislation in 2024 implementing aspects of the OECD’s minimum tax rules under the Pillar Two framework, effective for the 2024 fiscal year, and proposed additional legislation to implement further aspects effective in the 2025 fiscal year. Additionally, in 2024, the Brazilian Congress approved legislation-effective in 2025-that is largely aligned with certain aspects of the OECD’s minimum tax rules under the Pillar Two framework. To date, no other jurisdictions in which