XML 25 R10.htm IDEA: XBRL DOCUMENT v3.24.2.u1
REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
External Net Sales by Product

External net sales by major products were as follows by business segment:
Three Months Ended
June 30,		Six Months Ended
June 30,
In millions
2024202320242023
Europe
Uncoated Papers
$180 $192 $366 $395 
Market Pulp
25 18 46 45 
Europe
205 210 412 440 
Latin America
Uncoated Papers
220 215 416 401 
Market Pulp15 20 27 40 
Latin America
235 235 443 441 
North America
Uncoated Papers
474 463 945 949 
Market Pulp
19 11 38 30 
North America
493 474 983 979 
Total
$933 $919 $1,838 $1,860 
Revenue Contract Balances

A contract asset is created when the Company recognizes revenue on its customized products for which we have an enforceable right to payment.

A contract liability is created when customers prepay for goods prior to the Company transferring those goods to the customer. The contract liability is reduced when control of the goods is transferred to the customer, satisfying our performance obligation. Contract liabilities of $2 million and $8 million are included in “Other current liabilities” as of June 30, 2024 and December 31, 2023, respectively.

The difference between the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the difference between the price and quantity at comparable points in time for goods which we have an unconditional right to payment or receive pre-payment from the customer, respectively.