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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
NET SALES $ 968 $ 731 $ 2,701 $ 2,050
COSTS AND EXPENSES        
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below) 687 556 1,965 1,540
Selling and administrative expenses 80 46 227 142
Depreciation, amortization and cost of timber harvested 30 33 94 95
Taxes other than payroll and income taxes 6 8 18 21
Interest (income) expense, net 18 10 52 (19)
Income from continuing operations before income taxes 147 78 345 271
Income tax provision (benefit) 38 19 97 73
NET INCOME FROM CONTINUING OPERATIONS 109 59 248 198
Discontinued operations, net of taxes (52) 33 (224) 71
NET INCOME (LOSS) $ 57 $ 92 $ 24 $ 269
BASIC EARNINGS (LOSS) PER SHARE        
Earnings from continuing operations, basic (in dollars per share) $ 2.47 $ 1.34 $ 5.62 $ 4.50
Discontinued operations, net of taxes, basic (in dollars per share) (1.18) 0.75 (5.08) 1.60
Net earnings (loss), basic (in dollars per share) 1.29 2.09 0.54 6.10
DILUTED EARNINGS (LOSS) PER SHARE        
Earnings from continuing operations, diluted (in dollars per share) 2.44 1.34 5.58 4.50
Discontinued operations, net of taxes, diluted (in dollars per share) (1.16) 0.75 (5.04) 1.60
Net earnings (loss), diluted (in dollars per share) $ 1.28 $ 2.09 $ 0.54 $ 6.10