LOUISIANA-PACIFIC CORP
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
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Business Exit Charges
- BUSINESS EXIT CHARGES
During the second quarter of 2023, we ceased the manufacturing operations of Entekra, an off-site framing operation previously reported within our “Other” category, which comprises other products that are not individually significant. Business exit charges were $32 million for year ended December 31, 2023, which consisted of the following (dollar amounts in millions):
| Year Ended December 31, | |
|---|---|
| 2023 | |
| Impairment of property, plant and equipment, operating lease assets, and other intangible assets1 | $24 |
| Restructuring and other related charges: | |
| Inventory write-down2 | 7 |
| Other expenses including personnel-related costs such as severance3 | 1 |
| Total Business exit charges | $32 |
1 Included within impairment of long-lived assets, net on the Consolidated Income Statements.
2 Included within cost of sales on the Consolidated Income Statements.
3 Included within other operating credits and charges, net on the Consolidated Income Statements.
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