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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 71 $ 369
Receivables, net of allowance for doubtful accounts of $3 million and $1 million as of June 30, 2023, and December 31, 2022, respectively 172 127
Inventories 407 337
Prepaid expenses and other current assets 21 20
Total current assets 671 854
Timber and timberlands 32 40
Property, plant, and equipment, net 1,504 1,326
Operating lease assets 31 44
Goodwill and other intangible assets 27 36
Investments in and advances to affiliates 6 6
Restricted Cash, Noncurrent 0 14
Other assets 24 24
Deferred Tax Assets, Deferred Income 8 7
Total assets 2,302 2,350
LIABILITIES AND EQUITY    
Accounts payable and accrued liabilities 262 317
Accrued Income Taxes, Current 5 19
Total current liabilities 267 336
Long-term Debt and Lease Obligation 377 346
Deferred Income Tax Liabilities, Net 127 113
Operating Lease liability, noncurrent 33 41
Loss Contingency Accrual 26 26
Other long-term liabilities 54 53
Liabilities 883 916
Redeemable noncontrolling interest 0 0
Stockholders' equity:    
Common stock, $1 par value, 200,000,000 shares authorized; 87,986,865 and 72,103,762 shares issued and outstanding, respectively, as of June 30, 2023; and 87,986,865 and 71,748,200 shares issued and outstanding, respectively, as of December 31, 2022 88 88
Additional paid-in capital 458 462
Retained earnings 1,337 1,371
Treasury stock, 15,883,103 shares and 16,238,665 shares, at cost as of June 30, 2023, and December 31, 2022, respectively (387) (388)
Accumulated comprehensive loss (78) (99)
Total stockholders' equity 1,419 1,433
Total liabilities and stockholders' equity $ 2,302 $ 2,350