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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net sales (Note 3) $ 7,124 $ 7,674 $ 10,184
Costs of sales 5,811 5,992 6,564
Gross margin 1,313 1,682 3,620
Selling expenses 88 87 93
General and administrative expenses 480 431 398
Gain on sale of timberlands (Note 4) 0 (84) 0
Other operating costs, net (Note 17) 60 62 49
Operating income 685 1,186 3,080
Non-operating pension and other post-employment benefit costs (Note 8) (42) (45) (254)
Interest income and other 53 76 25
Interest expense, net of capitalized interest (269) (280) (270)
Loss on debt extinguishment (Note 11) 0 0 (276)
Earnings before income taxes 427 937 2,305
Income taxes (Note 18) (31) (98) (425)
Net earnings $ 396 $ 839 $ 1,880
Basic and diluted earnings per share (Note 5):      
Basic $ 0.54 $ 1.15 $ 2.53
Diluted $ 0.54 $ 1.15 $ 2.53
Weighted average shares outstanding (in thousands) (Note 5):      
Basic 728,398 731,654 741,904
Diluted 728,957 732,222 742,953