What the changes say
- 2025 risk disclosure newly emphasizes tariffs, including $8 million of tariff expenses and higher raw-material costs.
- Interest-rate risk is now quantified with variable-rate margins, and cash held above FDIC limits is also flagged.
- Regulatory and tax risk language is substantially unchanged.
What changed since the prior 10-K
Reworded
- 79% rewrittenFINANCIAL RISK FACTORS
More detailed descriptions of our Amended Credit Agreement and the indenture governing the 2029 Senior Notes are included in filings made by us with the SEC, along with the documents themselves, copies of which are filed as exhibits to this annual report on Form 10-K and which provide the full text of these covenants
Interest-rate risk now specifies base-rate and Adjusted Term SOFR margins, while adding risks from bank failures and uninsured cash balances.
Was: More detailed descriptions of our Credit Agreement and the indenture governing our 2029 Senior Notes are included in filings made by us with the SEC, along with the documents themselves, copies of which are filed as exhibits to this annual report on Form 10-K and which provide the full text of these covenants
- 64% rewrittenBUSINESS AND OPERATIONAL RISK FACTORS
If any of these or other factors were to render the conduct of our business in a particular country undesirable or impractical, our business, financial condition, or results of operations could be materially adversely affected
The prior strategic-transactions risk was replaced by changing U.S. trade policy, retaliatory tariffs, higher manufacturing costs, and $8 million of 2025 tariff expenses.
- 52% rewrittenLEGAL AND REGULATORY RISK FACTORS
Likewise, any investigation of any potential violations of the FCPA, other anti-corruption laws, or Trade Control Laws by the U.S. or foreign authorities could also have an adverse impact on our reputation, business, financial condition, and results of operations
The regulatory and tax risk is substantively unchanged; the wording only reverses the order of tax-law and effective-tax-rate references.
Risk factor headings as read
Headings as the filing states them, in filing order.
BUSINESS AND OPERATIONAL RISK FACTORS
- 01If any of these or other factors were to render the conduct of our business in a particular country undesirable or impractical, our business, financial condition, or results of operations could be materially adversely affected64% rewritten
LEGAL AND REGULATORY RISK FACTORS
- 02Likewise, any investigation of any potential violations of the FCPA, other anti-corruption laws, or Trade Control Laws by the U.S. or foreign authorities could also have an adverse impact on our reputation, business, financial condition, and results of operations52% rewritten
FINANCIAL RISK FACTORS
- 03In addition, restrictive covenants in our Amended Credit Agreement require us to maintain specified financial ratios and satisfy other financial condition tests. Our ability to meet those financial ratios and tests can be affected by events beyond our control, and we may be unable to meet them
- 04More detailed descriptions of our Amended Credit Agreement and the indenture governing the 2029 Senior Notes are included in filings made by us with the SEC, along with the documents themselves, copies of which are filed as exhibits to this annual report on Form 10-K and which provide the full text of these covenants79% rewritten
Other Louisiana-Pacific 10-Ks
- FY2024 10-K risk factorsRisk factors section under review
Strategic transactions and country-level operating conditions could materially affect results.
Filed Feb 19, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.