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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Apr. 01, 2017

Assets and Liabilities Adjusted to Fair Value on Recurring Basis

The Company’s assets and liabilities that are adjusted to fair value on a recurring basis are money market funds that qualify as cash equivalents, and derivative financial instruments.

		Level 1
(In millions)		April 1,          2017				December 31,          2016
Money market funds		$	135			$	135

Schedule of Fair Value of Assets and Liabilities

The following table presents information about financial instruments at the balance sheet dates indicated.

		April 1, 2017								December 31, 2016
(In millions)		Carrying     Value				Fair     Value				Carrying     Value				Fair     Value
Financial assets
Timber notes receivable		$	879			$	886			$	885			$	884
Company-owned life insurance			86				86				89				89
Financial liabilities
Recourse debt
Revenue bonds, due in varying amounts periodically through 2029			186				184				186				181
American & Foreign Power Company, Inc. 5% debentures, due 2030			14				12				14				12
Non-recourse debt			792				798				798				800

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

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-Publisher FASB
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-Publisher FASB
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-Publisher FASB
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-Section 50
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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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