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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Net sales $ 7,532 $ 6,554 $ 7,476
Costs of sales 5,447 5,412 5,592
Gross margin 2,085 1,142 1,884
Selling expenses 83 84 88
General and administrative expenses 347 348 318
Charges for integration and restructuring, closures and asset impairments (Note 4) 1 80 2
Product remediation recoveries, net (Note 18) (8) (68) 0
Gain on sale of timberlands (Note 4) (182) (48) 0
Other operating costs, net (Note 19) 134 95 82
Operating income 1,710 651 1,394
Non-operating pension and other post-employment benefit costs (Note 9) (290) (516) (272)
Interest income and other 5 30 60
Interest expense, net of capitalized interest (443) (378) (375)
Earnings (loss) before income taxes 982 (213) 807
Income taxes (Note 20) (185) 137 (59)
Net earnings (loss) $ 797 $ (76) $ 748
Basic and diluted earnings (loss) per share (Note 5): $ 1.07 $ (0.10) $ 0.99
Weighted average shares outstanding (in thousands) (Note 5):      
Basic 746,931 745,897 754,556
Diluted 747,899 745,897 756,827