DIVESTITURE AND IMPAIRMENT OF BUSINESS (Tables)

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Cash Flow

The following summarizes the major classes of line items comprising Income (Loss) Before Income Taxes reconciled to Discontinued Operations, net of taxes, related to the Russian operations for all periods presented in the condensed consolidated and combined statement of operations.

	Three Months Ended September 30				Nine Months Ended September 30
In millions	2022		2021		2022		2021
NET SALES	$	205	$	177	$	518	$	480
COSTS AND EXPENSES
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)	165		129		425		373
Selling and administrative expenses	6		1		10		4
Depreciation, amortization and cost of timber harvested	—		5		4		13
Taxes other than payroll and income taxes	—		—		1		1
Impairment of business	78		—		302		—
Interest (income) expense, net	—		—		(3)		—
INCOME (LOSS) BEFORE INCOME TAXES	(44)		42		(221)		89
Income tax provision (benefit)	8		9		3		18
DISCONTINUED OPERATIONS, NET OF TAXES	$	(52)	$	33	$	(224)	$	71

The following summarizes the major classes of assets and liabilities of the Russian operations reconciled to current assets and long-term assets and liabilities held for sale and current and long-term liabilities held for sale in the accompanying condensed consolidated balance sheet:

In millions	September 30, 2022		December 31, 2021
Cash and temporary investments	$	62	$	21
Accounts and notes receivable	126		88
Contract assets	1		3
Inventories	105		63
Other current assets	7		4
Current Assets Held for Sale	$	301	$	179
Plants, Properties and Equipment	35		121
Goodwill	13		10
Right of Use Assets	2		1
Deferred Charges and Other Assets	26		9
Long-Term Assets Held for Sale (a)	$	76	$	141
Notes payable and current maturities of long-term debt	$	2	$	1
Accounts payable	89		58
Accrued payroll and benefits	5		3
Other current liabilities	250		29
Current Liabilities Held for Sale	$	346	$	91
Long-Term Debt	—		1
Deferred Income Taxes	—		—
Other Liabilities	19		12
Long-Term Liabilities Held for Sale (a)	$	19	$	13

(a) Amounts included in current “Assets held for sale” and current “Liabilities held for sale” in the accompanying consolidated balance sheet as of September 30, 2022.

The following summarizes the total cash provided by operating activities from discontinued operations, net and total cash provided by (used for) investing activities from discontinued operations, net and included in the condensed consolidated and combined statement of cash flows:

In millions for the nine months ended September 30	2022		2021
Cash Provided by Operating Activities	$	20	$	87
Cash Provided by (Used for) Investment Activities (a)	$	(5)	$	14

(a) Includes cash invested in capital projects of $5 million and $7 million for the nine months ended September 30, 2022 and 2021, respectively.