CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and temporary investments	$ 360	$ 159
Accounts and notes receivable (less allowances of $20 in 2022 and $19 in 2021)	450	402
Contract assets	30	26
Inventories	364	279
Assets held for sale	0	179
Other current assets	39	63
Total Current Assets	1,243	1,108
Plants, Properties and Equipment, net	817	764
Forestlands	322	278
Goodwill	128	122
Right of Use Assets	35	40
Long-Term Assets Held for Sale	0	141
Deferred Charges and Other Assets	165	144
TOTAL ASSETS	2,710	2,597
Current Liabilities
Accounts payable	453	387
Notes payable and current maturities of long-term debt	29	41
Accrued payroll and benefits	81	48
Liabilities held for sale	0	91
Other current liabilities	165	191
Total Current Liabilities	728	758
Long-Term Debt	1,003	1,357
Deferred Income Taxes	183	169
Long-Term Liabilities Held for Sale	0	13
Other Liabilities	118	118
Commitments and Contingent Liabilities (Note 13)
Equity
Common stock $1.00 par value, 200.0 shares authorized, 42.6 shares and 43.9 shares outstanding at December 31, 2022 and 2021, respectively	44	44
Paid-in capital	25	4
Retained earnings	2,029	1,935
Accumulated other comprehensive loss	(1,338)	(1,801)
Stockholders' Equity before Treasury Stock	760	182
Less: Common stock held in treasury, at cost, 1.6 shares and 0.0 shares at December 31, 2022 and December 31, 2021, respectively	(82)	0
Total Equity	678	182
TOTAL LIABILITIES AND EQUITY	$ 2,710	$ 2,597