CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income (loss)	$ (14)	$ 42
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation, amortization and cost of timber harvested	84	85
Deferred income tax provision (benefit), net	0	(5)
Stock-based compensation	6	13
Foreign exchange gain on intercompany note	(20)	0
Changes in operating assets, liabilities and other:
Accounts and notes receivable	65	77
Inventories	(76)	0
Accounts payable and accrued liabilities	(2)	(79)
Other	(15)	(46)
CASH PROVIDED BY OPERATING ACTIVITIES	28	87
INVESTMENT ACTIVITIES
Invested in capital projects	(110)	(114)
Other	1	0
CASH USED FOR INVESTMENT ACTIVITIES	(109)	(114)
FINANCING ACTIVITIES
Dividends paid	(36)	(36)
Issuance of debt	571	48
Reduction of debt	(469)	(40)
Repurchases of common stock	0	(40)
Other	2	(8)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	68	(76)
Effect of Exchange Rate Changes on Cash	1	11
Change in Cash and Temporary Investments	(12)	(92)
Beginning of the period	135	205
End of the period	$ 123	$ 113