Company: LPX
Filing Date: 2025-06-26
Form Type: 11-K
Source: 0000060519-25-000023
Chunk: 6

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-06-26
Form: 11-K
Chunk 6
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 amount LP would have otherwise contributed to the Plan. At December 31, 2024 and 2023, forfeited non-vested accounts totaled $331 and $480, respectively. These forfeitures will be used to reduce future employer contributions and/or pay Plan administrative expenses. During the years ended December 31, 2024 and 2023, employer contributions were reduced by $965 and $662 from forfeited non-vested accounts, respectively.

#### Administrative Expenses
- Certain administrative expenses of the Plan are paid by the Plan as provided in the Plan document. Participants with more than one year of service are assessed a quarterly fee to offset Plan expenses. During the years ended December 31, 2024 and 2023, administrative expenses of $416 and $413, respectively, were paid by participants. Investment income is reported net of management fees and operating expenses.

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of Accounting
- The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP).

#### Use of Estimates
- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

#### Risks and Uncertainties
- The Plan utilizes various investment securities, including common stock, mutual funds, collective trust funds, and a stable value fund. Investment securities, in general, are exposed

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to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such change could materially affect the amounts reported in the financial statements.

#### Investment Valuation and Income Recognition
- The Plan's investments are stated at fair value. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following is a description of the valuation methodologies used for assets measured at fair value:

Common Stock - LP's common stock is valued at the closing price reported on the New York Stock Exchange on the last business day of the Plan year.

Mutual Funds - Shares of mutual funds held by the