Company: LPX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038227
Chunk: 6

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 and operating overhead. The first-in, first-out or average cost methods are used to value our inventories as of June 30, 2025. Inventory consisted of the following (dollar amounts in millions):

                                 June 30, 2025               December 31, 2024           
 ─────────────────────────────────────────────────────────────────────────────────────────
  Logs                           $                   56      $                       64  
  Other raw materials            45                          41                          
  Semi-finished inventories      31                          33                          
  Finished products              238                         220                         
  Total Inventories              $                  370      $                      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 six months ended June 30, 2025 are provided in the following table (dollar amounts in millions):

                                           Timber Licenses 1              Goodwill              Developed Technology  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Beginning balance December 31, 2024      $                      23      $             19      $                     
  Amortization                             ( 1)                           —                     ( 1)                  
  Ending balance June 30, 2025             $                      22      $             19      $                     

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

The Company regularly evaluates the estimated useful lives of its definite-lived intangible assets. During the quarter ended June 30, 2025, the Company revised its estimate of the useful lives of its developed technology to better reflect the period over which the asset is expected to be utilized. The developed technology previously had a remaining useful life of ten years and is now being amortized over a revised useful life of one year. This revision in estimate resulted in a quarterly increase of $2 million in amortization expense.

NOTE 8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

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

                                                      June 30, 2025               December 31, 2024           
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