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REVENUE RECOGNITION
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
In millions
2025202420252024
Europe
Uncoated Papers
$161 $168 $493 $534 
Market Pulp
23 25 62 71 
Europe
184 193 555 605 
Latin America
Uncoated Papers
200 223 561 639 
Market Pulp
12 17 38 44 
Latin America
212 240 599 683 
North America
Uncoated Papers
429 510 1,244 1,455 
Market Pulp
21 22 63 60 
North America
450 532 1,307 1,515 
Total
$846 $965 $2,461 $2,803 
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 $3 million and $2 million are included in “Other current liabilities” as of September 30, 2025 and December 31, 2024, 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 for which we have an unconditional right to payment or receive pre-payment from the customer, respectively.