Company: LPX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000060519-25-000005
Chunk: 97

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 97
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 costs are amortized over the life of the related debt using a straight-line basis, which approximates the effective interest method. Included in such amortized amounts are deferred debt costs associated with our Amended Credit Facility of $3 million, which are recorded within other assets on our Consolidated Balance Sheets. We amortized deferred debt costs of $1 million for each of the years ended December 31, 2024, 2023, and 2022. The weighted average interest rate for all long-term debt at both December 31, 2024 and 2023 was approximately 3.6%. Required repayment of principal for long-term debt is as follows (dollars in millions):Years ending December 31,2025$— 2026— 2027— 2028— 2029350 Total$350 We estimated the 2029 Senior Notes to have a fair value of $323 million and $314 million at December 31, 2024 and 2023, respectively, based upon market quotations. Fair values were based on trading activity among the Company’s lenders and the average bid and ask price as determined using published rates (Level 1 in the U.S. GAAP fair value hierarchy).

11.    STOCKHOLDERS' EQUITY

Preferred StockWe are authorized to issue up to 15,000,000 shares of preferred stock at $1.00 par value. At December 31, 2024, no shares of preferred stock have been issued. 

71

Stock Award PlanWe have a stock-based compensation plan under which stock options, SSARs, restricted stock, restricted stock units, and performance stock units may be granted. At December 31, 2024, approximately four million shares were available under the current plan for these awards.Year ended December 31,(Dollars in millions)202420232022Total stock-based compensation expense (cost of sales and selling, general and administrative)$20 $13 $19 Income tax benefit related to stock-based compensation$3 $2 $8 Impact on cash flow due to taxes paid related to net share settlement of equity awards$(11)$(12)$(16)We recognize the compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of three years. SSARsPrior to January 1, 2018, we granted SSARs to key employees under the Company's then-current stock award plan.