Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 340	$ 222
Receivables, net of allowance for doubtful accounts of $1 at December 31, 2024, and $2 at December 31, 2023, respectively	131	155
Inventories	357	378
Prepaid expenses and other current assets	27	23
Total current assets	855	778
Timber and timberlands	29	32
Property, plant and equipment, net	1,592	1,540
Operating lease assets	25	25
Goodwill and other intangible assets	26	27
Investments in and advances to affiliates	17	5
Other assets	20	20
Deferred tax assets	4	11
Total assets	2,569	2,437
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	287	254
Income taxes payable	11	5
Total current liabilities	299	259
Long-term debt, excluding current portion	348	347
Deferred income taxes	145	162
Non-current operating lease liabilities	24	25
Contingency reserves, excluding current portion	27	25
Other long-term liabilities	57	61
Liabilities	899	880
Stockholders' equity:
Preferred stock, $1 par value, 15,000,000 shares authorized, no shares issued	0	0
Common stock, $1 par value; 200 shares authorized; 86 shares issued, and 70 shares issued and outstanding, respectively, as of December 31, 2024; 88 shares issued and 72 shares issued and outstanding, respectively, as of December 31, 2023	86	88
Additional paid-in capital	478	465
Retained earnings	1,615	1,479
Treasury stock, 16 shares at cost as of December 31, 2024 and 2023	(386)	(386)
Accumulated comprehensive loss	(122)	(89)
Total stockholders' equity	1,671	1,557
Total liabilities and stockholders' equity	$ 2,569	$ 2,437