Company: LPX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000060519-25-000005
Chunk: 79

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 79
---
atesWe account for investments in affiliates when we do not have a controlling financial interest using the equity method under which LP’s share of earnings and losses of the affiliate is reflected in earnings, and dividends are credited against the investment in the affiliate when declared. Restricted CashOur restricted cash accounts generally secure outstanding letters of credit. There were no restricted cash balances as of December 31, 2024 and 2023, respectively.Accounts Payable and Accrued LiabilitiesAccounts payable and accrued liabilities were as follows (dollars in millions): December 31,20242023Trade accounts payable$139 $141 Salaries and wages payable80 57 Accrued customer incentives48 37 Taxes other than income taxes4 3 Current portion of operating lease liabilities8 6 Other accrued liabilities9 10 Total Accounts payable and accrued liabilities$287 $254 Other accrued liabilities at December 31, 2024 and 2023, primarily consisted of accrued interest, worker compensation liabilities, warranty reserves, and other items. Additionally, trade accounts payable included $32 million and $15 million related to capital expenditures that had not yet been paid as of December 31, 2024 and 2023, respectively.

56

Other Long-Term LiabilitiesOther long-term liabilities were as follows (dollars in millions): December 31,20242023Post-retirement obligations$7 $7 Asset retirement obligations9 8 Uncertain tax positions13 15 Warranty reserves5 6 Pension benefit obligation2 2 Other21 23 Total Other long-term liabilities$57 $61 Other long-term liabilities at December 31, 2024 and 2023, consisted primarily of workers' compensation liabilities and investment tax incentives associated with property, plant, and equipment. Asset Retirement ObligationsWe record the fair value of the legal and conditional obligations to retire and remove long-lived assets in the periods in which the obligations are incurred. These obligations primarily consist of monitoring costs on closed landfills, timber reforestation obligations associated with our timber licenses in Canada, and site restoration costs. When the related liability is initially recorded, we capitalize the cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its settlement value, and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, we recognize a gain or loss for any difference between the settlement amount