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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting | Information By Business Segment Net Sales and Business Segment Operating Profit Three Months Ended June 30, 2025:
In millions | Europe |  | Latin America |  | North America |  | Total
Sales | $ | 181 |  |  | $ | 207 |  |  | $ | 419 |  |  | $ | 807 |
Intersegment sales | — |  |  | (13) |  |  | — |  |  | (13) |
Net sales | $ | 181 |  |  | $ | 194 |  |  | $ | 419 |  |  | $ | 794 |
Less: |  |  |  |  |  |  |
Cost of products sold and other | 168 |  |  | 125 |  |  | 288 |  |  | 581 |
Maintenance outages | 28 |  |  | 20 |  |  | 18 |  |  | 66 |
Economic downtime | — |  |  | — |  |  | — |  |  | — |
Selling and administrative expenses | 15 |  |  | 23 |  |  | 34 |  |  | 72 |
Depreciation, amortization and cost of timber harvested | 8 |  |  | 23 |  |  | 14 |  |  | 45 |
Add: |  |  |  |  |  |  |
Other special items, net (a) | — |  |  | (1) |  |  | 1 |  |  | — |
Business Segment Operating Profit (Loss) | $ | (38) |  |  | $ | 2 |  |  | $ | 66 |  |  | $ | 30 |
Income before income taxes |  |  |  |  |  |  | $ | 20 |
Interest (income) expense, net |  |  |  |  |  |  | 10 |
Corporate special items, net (a) |  |  |  |  |  |  | — |
Other special items, net (a) |  |  |  |  |  |  | — |
Business Segment Operating Profit |  |  |  |  |  |  | $ | 30 |
(a) Net special items represent income or expenses that are incurred periodically, rather than on a regular basis. Net special items in the period presented include a gain to adjust the recognition of a foreign value-added tax refund in Brazil. Six Months Ended June 30, 2025:
In millions | Europe |  | Latin America |  | North America |  | Total
Sales | $ | 371 |  |  | $ | 406 |  |  | $ | 857 |  |  | $ | 1,634 |
Intersegment sales | — |  |  | (19) |  |  | — |  |  | (19) |
Net sales | $ | 371 |  |  | $ | 387 |  |  | $ | 857 |  |  | $ | 1,615 |
Less: |  |  |  |  |  |  |
Cost of products sold and other | 347 |  |  | 253 |  |  | 617 |  |  | 1,217 |
Maintenance outages | 40 |  |  | 21 |  |  | 32 |  |  | 93 |
Economic downtime | — |  |  | — |  |  | 3 |  |  | 3 |
Selling and administrative expenses | 30 |  |  | 44 |  |  | 71 |  |  | 145 |
Depreciation, amortization and cost of timber harvested | 16 |  |  | 41 |  |  | 28 |  |  | 85 |
Add: |  |  |  |  |  |  |
Other special items, net (a) | — |  |  | — |  |  | 2 |  |  | 2 |
Business Segment Operating Profit (Loss) | $ | (62) |  |  | $ | 28 |  |  | $ | 108 |  |  | $ | 74 |
Income before income taxes |  |  |  |  |  |  | $ | 53 |
Interest (income) expense, net |  |  |  |  |  |  | 19 |
Corporate special items, net (a) |  |  |  |  |  |  | — |
Other special items, net (a) |  |  |  |  |  |  | 2 |
Business Segment Operating Profit |  |  |  |  |  |  | $ | 74 |
(a) Net special items in the period presented primarily include a pre-tax gain to adjust the recognition of a foreign value-added tax refund in Brazil and charges related to the termination of the Georgetown mill offtake agreement and environmental reserves in Brazil. Three Months Ended June 30, 2024:
In millions | Europe |  | Latin America |  | North America |  | Total
Sales | $ | 206 |  |  | $ | 245 |  |  | $ | 493 |  |  | $ | 944 |
Intersegment sales | (1) |  |  | (10) |  |  | — |  |  | (11) |
Net sales | $ | 205 |  |  | $ | 235 |  |  | $ | 493 |  |  | $ | 933 |
Less: |  |  |  |  |  |  |
Cost of products sold and other | 169 |  |  | 150 |  |  | 337 |  |  | 656 |
Maintenance outages | — |  |  | 7 |  |  | 22 |  |  | 29 |
Economic downtime | 3 |  |  | — |  |  | 4 |  |  | 7 |
Selling and administrative expenses | 17 |  |  | 23 |  |  | 42 |  |  | 82 |
Depreciation, amortization and cost of timber harvested | 8 |  |  | 17 |  |  | 12 |  |  | 37 |
Add: |  |  |  |  |  |  |
Other special items, net (a) | — |  |  | (1) |  |  | 1 |  |  | — |
Business Segment Operating Profit (Loss) | $ | 8 |  |  | $ | 37 |  |  | $ | 77 |  |  | $ | 122 |
Income before income taxes |  |  |  |  |  |  | $ | 113 |
Interest (income) expense, net |  |  |  |  |  |  | 9 |
Corporate special items, net (a) |  |  |  |  |  |  | — |
Other special items, net (a) |  |  |  |  |  |  | — |
Business Segment Operating Profit |  |  |  |  |  |  | $ | 122 |
(a) Net special items in the period presented include a gain to adjust the recognition of a foreign value-added tax refund in Brazil and certain severance costs related to our salaried workforce. Six Months Ended June 30, 2024:
In millions | Europe |  | Latin America |  | North America |  | Total
Sales | $ | 413 |  |  | $ | 461 |  |  | $ | 983 |  |  | $ | 1,857 |
Intersegment sales | (1) |  |  | (18) |  |  | — |  |  | (19) |
Net sales | $ | 412 |  |  | $ | 443 |  |  | $ | 983 |  |  | $ | 1,838 |
Less: |  |  |  |  |  |  |
Cost of products sold and other | 362 |  |  | 295 |  |  | 693 |  |  | 1,350 |
Maintenance outages | — |  |  | 18 |  |  | 36 |  |  | 54 |
Economic downtime | 3 |  |  | — |  |  | 8 |  |  | 11 |
Selling and administrative expenses | 28 |  |  | 44 |  |  | 83 |  |  | 155 |
Depreciation, amortization and cost of timber harvested | 16 |  |  | 35 |  |  | 25 |  |  | 76 |
Add: |  |  |  |  |  |  |
Other special items, net (a) | 1 |  |  | — |  |  | 1 |  |  | 2 |
Business Segment Operating Profit (Loss) | $ | 4 |  |  | $ | 51 |  |  | $ | 139 |  |  | $ | 194 |
Income before income taxes |  |  |  |  |  |  | $ | 173 |
Interest (income) expense, net |  |  |  |  |  |  | 18 |
Corporate special items, net (a) |  |  |  |  |  |  | 1 |
Other special items, net (a) |  |  |  |  |  |  | 2 |
Business Segment Operating Profit |  |  |  |  |  |  | $ | 194 |
(a) Net special items in the period presented primarily include integration costs for the Nymölla acquisition, a gain to adjust the recognition of a foreign value-added tax refund in Brazil and certain severance costs related to our salaried workforce. Assets
In millions |  | June 30, 2025 |  | December 31, 2024
Europe |  | $ | 392 |  |  | $ | 324 |
Latin America |  | 1,163 |  |  | 1,065 |
North America |  | 861 |  |  | 904 |
Corporate and Other (a) |  | 252 |  |  | 311 |
Assets |  | $ | 2,668 |  |  | $ | 2,604 |
(a) Includes corporate assets. Capital Spending
|  | Six Months Ended June 30,
In millions |  | 2025 |  | 2024
Europe |  | $ | 22 |  |  | $ | 10 |
Latin America |  | 62 |  |  | 77 |
North America |  | 30 |  |  | 25 |
Corporate |  | — |  |  | 1 |
Capital Spending |  | $ | 114 |  |  | $ | 113 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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