Company: LPX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000060519-25-000035
Chunk: 6

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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                             $                      $  
  Asset retirement obligations                            9                      9  
  Uncertain tax positions                                13                     13  
  Warranty reserves                                       5                      5  
  Pension benefit obligation                              1                      2  
  Other                                                  20                     21  
  Total other long-term liabilities                       $                      $  

Other long-term liabilities at September 30, 2025 and December 31, 2024, consisted primarily of workers’ compensation liabilities and investment tax incentives associated with property, plant, and equipment. See “ Note 11. Product Warranties” below for further information regarding our product warranty claims.

NOTE 5. FAIR VALUE MEASUREMENTS

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We are required to classify these financial assets and liabilities into two groups: (i) recurring - measured on a periodic basis, and (ii) non-recurring - measured on an as-needed basis.

There are three levels of inputs that may be used to measure fair value:

Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable or can be corroborated by observable market data.

Level 3 Valuations based on models where significant inputs are not observable. Unobservable inputs are used when little or no market data is available and reflect the Company’s own assumptions about the assumptions market participants would use.

The Company’s financial instruments consist of cash and cash equivalents, short-term receivables, trade payables, debt instruments, and trading securities. Carrying amounts reported on the balance sheet for cash and cash equivalents, receivables, and accounts payable approximate fair value due to the short-term maturity of these instruments.

The net carrying value of the 3.625 348 335 323

In March 2025, LP entered into the First Amendment to Second Amended and Restated Credit Agreement (the First Amendment) with American AgCredit, PCA, as administrative agent, CoBank