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FINANCIAL INFORMATION BY BUSINESS SEGMENT AND GEOGRAPHIC AREA
 3 Months Ended
Mar. 31, 2024
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 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
March 31,
In millions
20242023
Europe$207 $230 
Latin America216 222 
North America490 505 
Intersegment Sales(8)(16)
Net Sales$905 $941 
Business Segment Operating Profit
Three Months Ended
March 31,
In millions20242023
Europe$(4)$23 
Latin America14 46 
North America62 97 
Business Segment Operating Profit$72 $166 
Income before income taxes$60 $141 
Interest (income) expense, net9 7 
Net special items expense (income) (a)3 18 
Business Segment Operating Profit$72 $166 
(a) Special items represent income or expenses that are incurred periodically, rather than on a regular basis. Net special items in the periods presented primarily include integration costs related to the Nymölla acquisition, professional and legal fees related to negotiations resulting in a shareholder cooperation agreement, the impact of the step-up of acquired Nymölla inventory sold during the first quarter of 2023 and other charges.