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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Net sales (Note 3) $ 7,674 $ 10,184 $ 10,201
Costs of sales 5,992 6,564 6,103
Gross margin 1,682 3,620 4,098
Selling expenses 87 93 95
General and administrative expenses 431 398 396
Product remediation recoveries (Note 17) 0 0 (37)
Gain on sale of timberlands (Note 4) (84) 0 (32)
Other operating costs, net (Note 18) 62 49 33
Operating income 1,186 3,080 3,643
Non-operating pension and other post-employment benefit costs (Note 8) (45) (254) (19)
Interest income and other 76 25 5
Interest expense, net of capitalized interest (280) (270) (313)
Loss on debt extinguishment (Note 11) 0 (276) 0
Earnings before income taxes 937 2,305 3,316
Income taxes (Note 19) (98) (425) (709)
Net earnings $ 839 $ 1,880 $ 2,607
Earnings per share (Note 5):      
Basic $ 1.15 $ 2.53 $ 3.48
Diluted $ 1.15 $ 2.53 $ 3.47
Weighted average shares outstanding (in thousands) (Note 5):      
Basic 731,654 741,904 749,496
Diluted 732,222 742,953 750,983