Company: LPX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000060519-25-000005
Chunk: 100

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 100
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PP. 

73

12.    OTHER OPERATING AND NON-OPERATING INCOME (EXPENSE)

Other operating credits and charges, netThe major components of Other operating credits and charges, net in the Consolidated Statements of Income for the years ended December 31, 2024, 2023, and 2022 are reflected in the table below and described in the paragraphs following the table (dollars in millions):Year Ended December 31,202420232022Insurance recoveries$— $— $15 Legal settlement3 (16)— Reorganization charges(2)(8)(7)Product liability settlement— — 8 Gain (loss) on asset sales(2)6 (1)Other(3)(1)— $(4)$(19)$16 During 2024, we received $3 million related to legal settlements, incurred severance and other charges of $2 million related to certain reorganizations, and recognized a $2 million loss on the sale of assets.During 2023, we agreed to pay $16 million to resolve certain patent-related claims and to obtain certain patent rights. We incurred severance and other charges of $8 million related to certain reorganizations and recognized a $6 million gain on the sale of assets.During 2022, we received $15 million in insurance recoveries related to business interruption claims for weather-related downtime sustained in the prior year. We incurred severance and other charges of $7 million related to certain reorganizations and we recognized a charge of $2 million related to additional estimated environmental costs associated with a non-operating site.Non-operating income (expense)Non-operating income (expense) is comprised of the following components (dollars in millions): Year Ended December 31,202420232022Interest expense$(14)$(17)$(14)Amortization of debt charges(1)(1)(1)Capitalized interest1 4 5 Interest expense, net of capitalized interest$(14)$(14)$(11)Interest income$22 $18 $14 Investment income$22 $18 $14 Net periodic pension cost, excluding service cost$— $— $(6)Foreign currency gain (loss), net9 (40)(11)Pension settlement charges— (4)(82)Other— 1 2 Other non-operating items$9 $(43)$(97