DIVESTITURE (Tables)

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations - Income Statement, Balance Sheet and Cash Flow Statement

The following summarizes the major classes of line items comprising Earnings (Loss) Before Income Taxes and Equity Earnings reconciled to Discontinued Operations, net of tax, related to the Global Cellulose Fibers business for all current and prior periods presented in the condensed consolidated statement of operations:

	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2025		2024		2025		2024
Net Sales	$	634	$	708	$	1,896	$	2,126
Costs and Expenses
Cost of products sold	377		463		1,285		1,494
Selling and administrative expenses	50		35		145		97
Depreciation and amortization	35		59		134		175
Distribution expenses	63		70		193		226
Taxes other than payroll and income taxes	6		7		20		20
Restructuring charges, net	(5)		1		(5)		1
Net loss on impairment of business	1,008		—		1,008		—
Interest expense, net	2		(1)		(2)		(2)
Earnings (Loss) Before Income Taxes and Equity Earnings (Loss)	(902)		74		(882)		115
Income tax provision (benefit)	(226)		35		(225)		48
Discontinued Operations, Net of Taxes	$	(676)	$	39	$	(657)	$	67

The following summarizes the major classes of assets and liabilities of the Global Cellulose Fibers business and reconciled to Assets held for sale and Liabilities held for sale as of September 30, 2025 in the accompanying condensed consolidated balance sheet:

In millions	September 30, 2025
Cash and temporary investments	$	10
Accounts and notes receivable, net	568
Contract assets	43
Inventories	294
Other current assets	13
Plants, Properties and Equipment	1,723
Right of Use Assets	36
Deferred Charges and Other Assets	103
	2,790
Impairment Charge	(1,008)
Assets held for sale	1,782
Notes payable and current maturities of long-term debt	2
Accounts payable	208
Accrued payroll and benefits	62
Other current liabilities	34
Long-Term Debt	5
Deferred Income Taxes	43
Long-Term Lease Obligations	22
Other Liabilities	63
Liabilities held for sale	$	439

The following summarizes the major classes of assets and liabilities of the Global Cellulose Fibers business and reconciled to Assets held for sale, Long-Term Assets Held For Sale, Liabilities held for sale and Long-Term Liabilities Held For Sale as of December 31, 2024 in the accompanying condensed consolidated balance sheet:

In millions	December 31, 2024
Cash and temporary investments	$	109
Accounts and notes receivable, net	564
Contract assets	35
Inventories	298
Other current assets	10
Assets held for sale	1,016
Plants, Properties and Equipment	1,742
Right of Use Assets	31
Deferred Charges and Other Assets	103
Long-Term Assets Held For Sale	1,876
Notes payable and current maturities of long-term debt	2
Accounts payable	205
Accrued payroll and benefits	69
Other current liabilities	68
Liabilities held for sale	344
Long-Term Debt	6
Deferred Income Taxes	44
Long-Term Lease Obligations	24
Other Liabilities	51
Long-Term Liabilities Held For Sale	$	125

The following summarizes the cash provided by (used for) operations and cash provided by (used for) investment activities related to the Global Cellulose Fibers business and included in the condensed consolidated statement of cash flows:

In millions	Nine Months Ended September 30, 2025		Nine Months Ended September 30, 2024
Cash Provided By (Used For) Operating Activities	$	5	$	154
Cash Provided By (Used For) Investment Activities	$	(103)	$	(93)