Company: LPX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000060519-25-000015
Chunk: 5

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 instruments consist of cash and cash equivalents, short-term receivables, trade payables, debt instruments, and trading securities. Carrying amounts reported on the balance sheet for cash and cash equivalents, receivables, and accounts payable approximate fair value due to the short-term maturity of these instruments.

The net carrying value of the 3.625 348 328 323

In March 2025, LP entered into that certain First Amendment to Second Amended and Restated Credit Agreement (the First Amendment) with American AgCredit, PCA, as administrative agent, CoBank, ACB, as letter of credit issuer, and the lenders and voting participants party thereto, which amends that certain Second Amended and Restated Credit Agreement (the Credit Agreement) that was entered into in November 2022. The First Amendment amends the Credit Agreement to (1) increase the aggregate principal amount for the credit facility from $550million to $750million, (2) increase the sub-limit for letters of credit from $60million to $75million, (3) change the interest rate for revolving borrowing, (4) change the capitalization ratio limit, and (5) extend the maturity date to March 26, 2032. As of March 31, 2025, there werenooutstanding borrowings pursuant to the credit facility as amended by the First Amendment (the Amended Credit Facility).

NOTE 5. RECEIVABLES

Receivables consisted of the following (dollar amounts in millions):

                                       March 31, 2025               December 31, 2024           
 ────────────────────────────────────────────────────────────────────────────────────────────────
  Trade receivables                    $                   138      $                      100  
  Income tax receivable                1                            12                          
  Other receivables                    21                           21                          
  Allowance for doubtful accounts      ( 2)                         ( 1)                        
  Total Receivables                    $                   159      $                      131  

Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Other receivables as of March 31, 2025, and December 31, 2024, primarily consist of sales tax receivables, vendor rebates, and other miscellaneous receivables.

NOTE 6. INVENTORIES

Inventories are valued at the lower of cost or net realizable value. Inventory cost includes materials, labor, and