CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and temporary investments	$ 220	$ 360
Restricted cash	60	0
Accounts and notes receivable (less allowances of $25 in 2023 and $20 in 2022)	428	450
Contract assets	27	30
Inventories	404	364
Other current assets	54	39
Total Current Assets	1,193	1,243
Plants, Properties and Equipment, net	1,002	817
Forestlands	364	322
Goodwill	139	128
Right of Use Assets	58	35
Deferred Charges and Other Assets	116	165
TOTAL ASSETS	2,872	2,710
Current Liabilities
Accounts payable	421	453
Notes payable and current maturities of long-term debt	28	29
Accrued payroll and benefits	63	81
Other current liabilities	183	165
Total Current Liabilities	695	728
Long-Term Debt	931	1,003
Deferred Income Taxes	189	183
Other Liabilities	156	118
Commitments and Contingent Liabilities (Note 13)
Equity
Common stock $1.00 par value, 200.0 shares authorized, 44.5 shares and 44.2 shares issued and 41.2 shares and 42.6 shares outstanding at December 31, 2023 and 2022, respectively	45	44
Paid-in capital	48	25
Retained earnings	2,222	2,029
Accumulated other comprehensive loss	(1,256)	(1,338)
Stockholders' Equity before Treasury Stock	1,059	760
Less: Common stock held in treasury, at cost, 3.3 shares and 1.6 shares at December 31, 2023 and December 31, 2022, respectively	(158)	(82)
Total Equity	901	678
TOTAL LIABILITIES AND EQUITY	$ 2,872	$ 2,710