Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Receivables consisted of the following (dollars in millions):

	December 31,
	2024		2023
Trade receivables	$	100	$	104
Income tax receivables	12		27
Other receivables	21		26
Allowance for doubtful accounts	(1)		(2)
Total Receivables	$	131	$	155

Schedule of Inventory, Current [Table Text Block]

Inventories

Inventories are valued at the lower of cost or net realizable value. Inventory costs include materials, labor, and operating overhead. The FIFO (first-in, first-out) or average cost methods are used to value our inventories as of December 31, 2024. Inventories include a lower of cost or market adjustment of $9 million and $7 million as of December 31, 2024, and 2023, respectively. Inventory consisted of the following (dollars in millions):

	December 31,
	2024		2023
Logs	$	64	$	81
Other raw materials	41		53
Semi-finished inventory	33		27
Finished products	220		217
Total Inventories	$	357	$	378

Depreciation expense [Table Text Block]

Depreciation and amortization expense on property, plant, and equipment was included in our Consolidated Statements of Income as noted below (dollars in millions):

	Year Ended December 31,
	2024		2023		2022
Cost of sales	$	120	$	111	$	121
Selling, general and administrative expenses	3		4		4
Total depreciation and amortization	$	123	$	115	$	124

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following (dollars in millions):

	December 31,
	2024		2023
Land, land improvements, and logging roads, net of road amortization	$	217	$	212
Buildings	504		493
Machinery and equipment	2,472		2,352
Construction in progress	248		236
	3,441		3,293
Accumulated depreciation	(1,849)		(1,753)
Property, plant, and equipment, net	$	1,592	$	1,540

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable and accrued liabilities were as follows (dollars in millions):

	December 31,
	2024		2023
Trade accounts payable	$	139	$	141
Salaries and wages payable	80		57
Accrued customer incentives	48		37
Taxes other than income taxes	4		3
Current portion of operating lease liabilities	8		6
Other accrued liabilities	9		10
Total Accounts payable and accrued liabilities	$	287	$	254

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities were as follows (dollars in millions):

	December 31,
	2024		2023
Post-retirement obligations	$	7	$	7
Asset retirement obligations	9		8
Uncertain tax positions	13		15
Warranty reserves	5		6
Pension benefit obligation	2		2
Other	21		23
Total Other long-term liabilities	$	57	$	61

Schedule of Asset Retirement Obligations [Table Text Block]

The activity in our asset retirement obligation liability for 2024 and 2023 is summarized in the following table (dollars in millions).

	Year Ended December 31,
	2024		2023
Beginning balance	$	8	$	8
Accretion expense	1		—
Adjusted to expense (cost of sales and other operating credits and charges, net)	1		—
Ending balance	$	9	$	8