LOUISIANA-PACIFIC CORP
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
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Item 1A. RISK FACTORS
In addition to the other information set forth in this quarterly report on Form 10-Q, an investor should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” of the Company’s 2023 Annual Report on Form 10-K. There have been no material changes to the risk factors previously disclosed under the caption "Item 1A. Risk Factors" in Part I of our 2023 Annual Report on Form 10-K.
The risks described in our 2023 Annual Report on Form 10-K are not the only risks facing the Company. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also materially adversely affect our business, financial condition, operating results, or cash flows.
On May 3, 2022, LP's Board of Directors authorized the 2022 Share Repurchase Program under which LP was authorized to repurchase shares of its common stock totaling up to $600 million. LP may initiate, discontinue, or resume purchases of its common stock under the 2022 Share Repurchase Program in the open market, in block, and in privately negotiated transactions, including under Rule 10b5-1 plans, at times and in such amounts as management deems appropriate without prior notice, subject to market and business conditions, regulatory requirements, and other factors.
The following amount of our common stock was repurchased under this authorization during the quarter ended March 31, 2024:
| Period · Total Number of Shares Purchased · Average Price Paid Per Share · Total Number of Shares Purchased as Part of Publicly Announced Purchase Plans or Programs1 · Approximate Dollar Value of Shares Available for Repurchase Under the Plans or Programs(in millions) | |||||
|---|---|---|---|---|---|
| January 1, 2024 - January 31, 2024 | — | $— | — | $200 | |
| February 1, 2024 - February 29, 2024 | — | $— | — | $200 | |
| March 1, 2024 - March 31, 2024 | 166,783 | $79.83 | 166,783 | $187 | |
| Total for First Quarter 2024 | 166,783 | 166,783 | |||
1 On May 3, 2022, LP's Board of Directors authorized the 2022 Share Repurchase Program under which LP may repurchase shares of its common stock totaling up to $600 million. As of March 31, 2024, LP had used $413 million under the 2022 Share Repurchase Program.
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