Company: LPX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000060519-25-000015
Chunk: 6

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 operating overhead. The first-in, first-out or average cost methods are used to value our inventories as of March 31, 2025. Inventory consisted of the following (dollar amounts in millions):

                                 March 31, 2025               December 31, 2024           
 ──────────────────────────────────────────────────────────────────────────────────────────
  Logs                           $                    86      $                       64  
  Other raw materials            42                           41                          
  Semi-finished inventories      30                           33                          
  Finished products              242                          220                         
  Total Inventories              $                   399      $                      357  

NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment by applying a fair value-based test on an annual basis, or more frequently if circumstances indicate a potential impairment. The Company’s annual assessment date is October 1.

Changes in goodwill and other intangible assets for the three months ended March 31, 2025 are provided in the following table (dollar amounts in millions):

                                           Timber Licenses 1              Goodwill              Developed Technology  
  Amortization                             ( 1)                           —                     —                     
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Beginning balance December 31, 2024      $                      23      $             19      $                     
  Ending balance March 31, 2025            $                      22      $             19      $                     

1 Timber licenses are included in timber and timberlands on the Condensed Consolidated Balance Sheets.

NOTE 8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities were as follows (dollars amounts in millions):

                                                      March 31, 2025               December 31, 2024           
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Trade accounts payable                                           $      146                      $      139  
  Salaries and wages payable                                      53                              80           
  Accrued customer incentives                                     42                              48           
  Taxes other than income taxes                                    9                               4           
  Current portion of operating lease liabilities                   8                               8           
  Other accrued liabilities                                        6                               9           
  Total Accounts payable and accrued liabilities                   $      265                      $      287  

Other