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RESTRUCTURING AND OTHER CHARGES (Note)
9 Months Ended
Sep. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities [Note Text Block]

2024: During the three months and nine months ended September 30, 2024, the Company recorded restructuring and other charges of $56 million for severance related to the resource realignment component of our 80/20 strategic approach. These severance charges include $38 million, $17 million and $1 million in the Corporate, Industrial Packaging and Global Cellulose Fibers segments, respectively. The majority of the severance charges will be paid in the first quarter of 2025.

The Company also recorded restructuring and other charges of $3 million for the nine months ended September 30, 2024 for costs associated with the permanent closure of our containerboard mill in Orange, Texas and the permanent shutdown of pulp machines at our Riegelwood, North Carolina and Pensacola, Florida mills.

2023: There were no restructuring and other charges recorded during the three months and nine months ended September 30, 2023.