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REVENUE RECOGNITION (Note)
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]

Generally, the Company recognizes revenue on a point-in-time basis when the customer takes title to the goods and assumes the risks and rewards for the goods. For customized goods where the Company has a legally enforceable right to payment for the goods, the Company recognizes revenue over time which, generally, is as the goods are produced.

Disaggregated Revenue

A geographic disaggregation of revenues across our company segmentation in the following tables provides information to assist in evaluating the nature, timing and uncertainty of revenue and cash flows and how they may be impacted by economic factors.
Three Months Ended September 30, 2022
In millionsIndustrial PackagingGlobal Cellulose FibersCorporate and Inter-segment SalesTotal
Primary Geographical Markets (a)
United States$3,816 $846 $129 $4,791 
EMEA355 29 — 384 
Pacific Rim and Asia12 12 1 25 
Americas, other than U.S.202 — — 202 
Total$4,385 $887 $130 $5,402 
Operating Segments
North American Industrial Packaging$4,055 $— $— $4,055 
EMEA Industrial Packaging355 — — 355 
Global Cellulose Fibers— 887 — 887 
Intra-segment Eliminations(25)— — (25)
Corporate & Inter-segment Sales— — 130 130 
Total$4,385 $887 $130 $5,402 
(a) Net sales are attributed to countries based on the location of the seller.
Nine Months Ended September 30, 2022
In millionsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$11,419 $2,260 $358 $14,037 
EMEA1,178 84 — 1,262 
Pacific Rim and Asia33 41 3 77 
Americas, other than U.S.652 — — 652 
Total$13,282 $2,385 $361 $16,028 
Operating Segments
North American Industrial Packaging$12,206 $— $— $12,206 
EMEA Industrial Packaging1,178 — — 1,178 
Global Cellulose Fibers— 2,385 — 2,385 
Intra-segment Eliminations(102)— — (102)
Corporate & Inter-segment Sales— — 361 361 
Total$13,282 $2,385 $361 $16,028 
(a) Net sales are attributed to countries based on the location of the seller.


Three Months Ended September 30, 2021
In millionsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$3,590 $675 $51 $4,316 
EMEA331 28 (1)358 
Pacific Rim and Asia13 37 8 58 
Americas, other than U.S.177 — 5 182 
Total$4,111 $740 $63 $4,914 
Operating Segments
North American Industrial Packaging$3,814 $— $— $3,814 
EMEA Industrial Packaging331 — — 331 
Global Cellulose Fibers— 740 — 740 
Intra-segment Eliminations(34)— — (34)
Corporate & Inter-segment Sales— — 63 63 
Total$4,111 $740 $63 $4,914 
(a) Net sales are attributed to countries based on the location of the seller.
Nine Months Ended September 30, 2021
In millionsIndustrial PackagingGlobal Cellulose FibersCorporate & IntersegmentTotal
Primary Geographical Markets (a)
United States$10,352 $1,851 $141 $12,344 
EMEA1,119 74 (3)1,190 
Pacific Rim and Asia45 90 32 167 
Americas, other than U.S.555 — 21 576 
Total$12,071 $2,015 $191 $14,277 
Operating Segments
North American Industrial Packaging$11,037 $— $— $11,037 
EMEA Industrial Packaging1,121 — — 1,121 
Global Cellulose Fibers— 2,015 — 2,015 
Intra-segment Eliminations(87)— — (87)
Corporate & Inter-segment Sales— — 191 191 
Total$12,071 $2,015 $191 $14,277 
(a) Net sales are attributed to countries based on the location of the seller.

Revenue Contract Balances

A contract asset is created when the Company recognizes revenue on its customized products prior to having an unconditional right to payment from the customer, which generally does not occur until title and risk of loss passes to the customer.

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 once control of the goods is transferred to the customer. The majority of our customer prepayments are received during the fourth quarter each year for goods that will be transferred to customers over the following twelve months. Contract liabilities of $17 million and $27 million are included in Other current liabilities in the accompanying condensed consolidated balance sheet as of September 30, 2022 and December 31, 2021, respectively. During the second quarter of 2021, the Company also recorded a contract liability of $115 million related to the April 2021 acquisition disclosed in Note 8 - Acquisitions. The balance of this contract liability was $101 million and $107 million at September 30, 2022 and December 31, 2021, respectively, and is recorded in Other current liabilities and Other Liabilities in the accompanying condensed consolidated balance sheet.

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 prepayment from the customer, respectively.