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Supplemental Balance Sheet Information (Tables) | 3 Months Ended
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Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Receivables | Trade receivables are primarily generated by sales of our products to our wholesale and retail customers. Receivables consisted of the following (dollar amounts in millions):
| March 31, 2026 |  | December 31, 2025
Trade receivables | $ | 113 |  |  | $ | 95 |
Income tax receivable | 27 |  |  | 16 |
Other receivables | 16 |  |  | 17 |
Allowance for doubtful accounts | (1) |  |  | (1) |
Total Receivables | $ | 155 |  |  | $ | 127 |
Schedule of Inventories | Inventory consisted of the following (dollar amounts in millions):
| March 31, 2026 |  | December 31, 2025
Logs | $ | 93 |  |  | $ | 62 |
Other raw materials | 42 |  |  | 42 |
Semi-finished inventories | 35 |  |  | 38 |
Finished products | 247 |  |  | 222 |
Total Inventories | $ | 416 |  |  | $ | 363 |
Schedule of Property, Plant and Equipment | Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollar amounts in millions):
| March 31, 2026 |  | December 31, 2025
Land, Land improvements, and logging roads, net of road amortization | $ | 225 |  |  | $ | 225 |
Buildings | 527 |  |  | 525 |
Machinery and equipment | 2,648 |  |  | 2,602 |
Construction in progress | 293 |  |  | 298 |
Property, plant, and equipment | 3,692 |  |  | 3,650 |
Accumulated depreciation | (1,977) |  |  | (1,941) |
Property, plant, and equipment, net | $ | 1,715 |  |  | $ | 1,709 |
Intangible Asset and Goodwill | Changes in goodwill and other intangible assets for the three months ended March 31, 2026, are provided in the following table (dollar amounts in millions):
| Goodwill |  | Developed Technology |  |  |  | Total Goodwill and Intangibles |  |
Beginning balance December 31, 2025 | $ | 19 |  |  | $ | 3 |  |  |  |  | $ | 22 |  |  |
Amortization | — |  |  | (2) |  |  |  |  | (2) |  |  |
Ending balance March 31, 2026 | $ | 19 |  |  | $ | 1 |  |  |  |  | $ | 21 |  |  |
1 Timber licenses are included in timber and timberlands on the Condensed Consolidated Balance Sheets.
Intangible Asset, Finite-Lived | Changes in timber licenses for the three months ended March 31, 2026, are provided in the following table (dollar amounts in millions):
| Timber Licenses 1
Beginning balance December 31, 2025 | $ | 8 |
Additions | — |
Impairment | — |
Amortization | — |
Ending Balance March 31, 2026 | $ | 8 |
1 Timber licenses are included in timber and timberlands on the Condensed Consolidated Balance Sheets.
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities were as follows (dollars amounts in millions):
| March 31, 2026 |  | December 31, 2025
Trade accounts payable | $ | 122 |  |  | $ | 129 |
Salaries and wages payable | 53 |  |  | 84 |
Accrued customer incentives | 38 |  |  | 50 |
Taxes other than income taxes | 6 |  |  | 5 |
Current portion of operating lease liabilities | 9 |  |  | 9 |
Other accrued liabilities | 5 |  |  | 9 |
Total accounts payable and accrued liabilities | $ | 233 |  |  | $ | 285 |
Schedule of Other Long-Term Liabilities | Other long-term liabilities were as follows (dollar amounts in millions):
| March 31, 2026 |  | December 31, 2025
Post-retirement obligations | $ | 6 |  |  | $ | 6 |
Asset retirement obligations | 9 |  |  | 9 |
Uncertain tax positions | 5 |  |  | 5 |
Warranty reserves | 5 |  |  | 5 |
Other | 8 |  |  | 8 |
Total other long-term liabilities | $ | 33 |  |  | $ | 33 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2 + Details
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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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