Company: LPX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000060519-25-000005
Chunk: 106

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 106
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 forth the net periodic pension cost for our defined benefit pension plans. The components of our net periodic pension costs consisted of the following (dollars in millions):  Year Ended December 31,202420232022Service cost$— $1 $3 Other components of net periodic pension cost:Interest cost— — 7 Expected return on plan assets— — (7)Amortization of prior service cost and net transition asset— — 1 Amortization of net actuarial loss— — 5 Net periodic pension cost before loss due to settlement— 1 8 Loss due to pension settlement— 4 82 Total net periodic pension cost$— $4 $91 Net periodic pension cost included in cost of sales$— $— $— Net periodic pension cost included in selling, general, and administrative expenses— 1 3 Net periodic pension cost included in other non-operating items— 4 88 $— $4 $91 The weighted average assumptions used to calculate our net periodic pension costs for the year ended December 31, 2022, included a discount rate of 2.6% for both Canada and the U.S. Additionally, the expected return on plan assets was 3.0% for the U.S. and 2.0% for Canada.The expected long-term rate of return on plan assets reflects the weighted average expected long-term rates of return for the broad categories of investments currently held in the plans (adjusted for expected changes), based on historical rates of return for each broad category, as well as factors that may constrain or enhance returns in the broad categories in the future. The expected long-term rate of return on plan assets is adjusted when there are fundamental changes in expected returns in one or more broad asset categories and when the weighted average mix of assets in the plans changes significantly.Defined Contribution PlansWe also sponsor defined contribution plans in the U.S. and Canada. In the U.S., these plans are primarily 401(k) plans for hourly and salaried employees that allow for pre-tax employee deferrals and a Company match of up to 5% of an employee’s eligible wages (subject to certain limits). Under the profit-sharing feature of these plans, we may elect to contribute a discretionary amount as a percentage of eligible wages. Included in the assets of the 401(k) and profit-sharing plans are 0.4 million shares of LP common stock that represented