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FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA
9 Months Ended
Sep. 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
September 30
Nine Months Ended
September 30
In millions
2022202120222021
Europe$130 $85 $382 $263 
Latin America270 200 734 557 
North America589 447 1,646 1,255 
Intersegment Sales(21)(1)(61)(25)
Net Sales$968 $731 $2,701 $2,050 
Business Segment Operating Profit
Three Months Ended
September 30
Nine Months Ended
September 30
In millions2022202120222021
Europe$19 $(1)$38 $(5)
Latin America58 44 156 131 
North America98 52 226 91 
Business Segment Operating Profit$175 $95 $420 $217 
Income from continuing operations before income taxes$147 $78 $345 $271 
Interest (income) expense, net18 10 52 (19)
Net special items expense (income)10 23 (35)
$175 $95 $420 $217