Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Information By Business Segment

Net Sales and Business Segment Operating Profit

Three Months Ended March 31, 2025:


In millions	Europe		Latin America		North America		Total
Sales	$	190	$	199	$	438	$	827
Intersegment sales	—		(6)		—		(6)
Net sales	$	190	$	193	$	438	$	821
Less:
Cost of products sold and other	179		128		329		636
Maintenance outages	12		1		14		27
Economic downtime	—		—		3		3
Selling and administrative expenses	15		21		37		73
Depreciation, amortization and cost of timber harvested	8		18		14		40
Add:
Other special items, net (a)	—		1		1		2
Business Segment Operating Profit (Loss)	$	(24)	$	26	$	42	$	44
Income before income taxes							$	33
Interest (income) expense, net							9
Corporate special items, net (a)							—
Other special items, net (a)							2
Business Segment Operating Profit							$	44

(a) Net special items represent income or expenses that are incurred periodically, rather than on a regular basis. Net special items in the period presented primarily include charges related to the termination of the Georgetown mill offtake agreement and environmental reserves in Brazil.

Three Months Ended March 31, 2024:


In millions	Europe		Latin America		North America		Total
Sales	$	207	$	216	$	490	$	913
Intersegment sales	—		(8)		—		(8)
Net sales	$	207	$	208	$	490	$	905
Less:
Cost of products sold and other	193		145		356		694
Maintenance outages	—		11		14		25
Economic downtime	—		—		4		4
Selling and administrative expenses	11		21		41		73
Depreciation, amortization and cost of timber harvested	8		18		13		39
Add:
Other special items, net (a)	1		1		—		2
Business Segment Operating Profit (Loss)	$	(4)	$	14	$	62	$	72
Income before income taxes							$	60
Interest (income) expense, net							9
Corporate special items, net (a)							1
Other special items, net (a)							2
Business Segment Operating Profit							$	72

(a) Net special items in the period presented primarily include charges related to integration costs for the Nymölla acquisition and other charges.

Assets


In millions	March 31, 2025		December 31, 2024
Europe	$	351	$	324
Latin America	1,141		1,065
North America	887		904
Corporate and Other (a)	250		311
Assets	$	2,629	$	2,604

(a) Includes corporate assets.

Capital Spending


	Three Months Ended March 31,
In millions	2025		2024
Europe	$	10	$	2
Latin America	27		49
North America	11		9
Capital Spending	$	48	$	60