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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
NET SALES $ 912 $ 695 $ 1,733 $ 1,319
COSTS AND EXPENSES        
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below) 562 408 1,108 828
Selling and administrative expenses 81 57 147 96
Depreciation, amortization and cost of timber harvested 32 31 63 62
Distribution expenses 97 82 171 156
Taxes other than payroll and income taxes 6 6 12 13
Interest (income) expense, net 17 (29) 34 (29)
Income from continuing operations before income taxes 117 140 198 193
Income tax provision (benefit) 33 39 59 54
NET INCOME FROM CONTINUING OPERATIONS 84 101 139 139
Discontinued operations, net of taxes (143) 14 (172) 38
NET INCOME (LOSS) $ (59) $ 115 $ (33) $ 177
BASIC EARNINGS (LOSS) PER SHARE        
Earnings from continuing operations, basic (in dollars per share) $ 1.90 $ 2.30 $ 3.15 $ 3.16
Discontinued operations, net of taxes, basic (in dollars per share) (3.24) 0.31 (3.90) 0.87
Net earnings (loss), basic (in dollars per share) (1.34) 2.61 (0.75) 4.03
DILUTED EARNINGS (LOSS) PER SHARE        
Earnings from continuing operations, diluted (in dollars per share) 1.89 2.30 3.13 3.16
Discontinued operations, net of taxes, diluted (in dollars per share) (3.22) 0.31 (3.87) 0.87
Net earnings (loss), diluted (in dollars per share) $ (1.33) $ 2.61 $ (0.74) $ 4.03