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FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA
The Company’s business segments, Europe, Latin America and North America, are consistent with the internal structure used to manage these businesses. All segments are differentiated on a common product, common customer basis, consistent with the business segmentation generally used in the Forest Products industry.
Business segment operating profit is used by the Company’s management to measure the earnings performance of its businesses. Management believes that this measure provides investors and analysts useful insights into our operating performance. Business segment operating profit is defined as income from continuing operations before income taxes, excluding interest (income) expense, net, and net special items.
External sales are defined as those that are made to parties outside the Company’s combined group, whereas sales by segment in the Net Sales table are determined using a management approach and include intersegment sales.
Information By Business Segment
Net Sales
Three Months Ended
June 30,
Six Months Ended
June 30,
In millions
2022202120222021
Europe$135 $94 $252 $178 
Latin America249 189 464 357 
North America549 426 1,057 808 
Intersegment Sales(21)(14)(40)(24)
Net Sales$912 $695 $1,733 $1,319 
Business Segment Operating Profit
Three Months Ended
June 30,
Six Months Ended
June 30,
In millions2022202120222021
Europe$17 $$19 $(3)
Latin America59 44 98 86 
North America66 21 128 39 
Business Segment Operating Profit$142 $69 $245 $122 
Income from continuing operations before income taxes$117 $140 $198 $193 
Interest (income) expense, net17 (29)34 (29)
Net special items expense (income)8 (42)13 (42)
$142 $69 $245 $122