XML 70 R21.htm IDEA: XBRL DOCUMENT v3.22.0.1
Other Operating Credits and Charges, Net
 12 Months Ended
Dec. 31, 2021
Other Operating Credits And Charges, Net [Abstract]  
Other Operating Credits And Charges Net [Text Block} OTHER OPERATING AND NON-OPERATING INCOME (EXPENSE)
Other operating credits and charges, net

The major components of other operating credits and charges, net in the Consolidated Statements of Income for the years ended December 31 are reflected in the table below and described in the paragraphs following the table: 
Year Ended December 31,
202120202019
Reorganization and facility curtailment charges$(1)$(5)$(12)
Insurance recoveries3 — — 
Canadian wage subsidies— 9 — 
Product-line discontinuance charges— (8)— 
Environment costs, net of insurance recoveries(4)(3)9 
Adjustment to product-related warranty reserves— — 4 
Other2 3 (2)
$1 $(4)$(1)

During 2021, we recognized a charge of $4 million related to additional estimated environmental costs associated with a non-operating site. We incurred severance and other charges of $1 million related to certain reorganizations. Additionally, we received $3 million in insurance recoveries related to business interruption claims for weather-related downtime sustained in the prior year.

During 2020, we recognized a charge of $3 million related to additional estimated environmental costs to be paid by a third party associated with a non-operating site. We also incurred severance and other charges of $5 million related to certain reorganizations, and we recorded a charge of $8 million related to the discontinuance of our fiber product (primarily related to fiber inventory adjustments to net realizable values). Additionally, we received $9 million of Canadian wage subsidies during 2020.

During 2019, we recognized a $4 million gain related to the reduction of product-related warranty reserves associated with CanExel® products, and we received $9 million related to insurance recoveries on property damage. We also recognized $12 million of severance and other charges related to certain reorganizations.
Non-operating income (expense)

Non-operating income (expense) is comprised of the following components:
 
 Year Ended December 31,
202120202019
Interest expense$(15)$(17)$(18)
Amortization of debt charges(2)(2)(2)
Capitalized interest3 — 1 
Interest expense, net of capitalized interest(14)(19)(19)
Interest income1 2 9 
Gain on sale of auction rate securities— 3 — 
SERP market adjustments— (1)1 
Investment income1 4 10 
Net periodic pension cost, excluding service cost(1)(1)(3)
Foreign currency gains (losses)(3)1 (5)
Loss on early debt extinguishment(11)— — 
Pension settlement charges(2)— — 
Gain on acquisition of controlling interest— — 14 
Other non-operating items$(16)$— $6 

Interest expense was $15 million, $17 million, and $18 million for the years ended December 31, 2021, 2020, and 2019, respectively.

During 2021, we recorded an early debt extinguishment charge of $11 million, which included $9 million of redemption premium and $2 million of unamortized debt costs associated with the early redemption of the 2024 Senior Notes. Additionally, we recognized $2 million of pension settlement expense related to a portion of the unrecognized actuarial loss.

During 2020, we sold our auction rate securities (ARS) and recognized a $3 million gain on available-for-sale securities.

During 2019, we obtained a controlling interest in Entekra. Entekra's results of operations have been fully consolidated, and we established a redeemable noncontrolling interest related to the minority holders. Due to the pre-existing ownership interest in Entekra, this acquisition was accounted for as a step acquisition in accordance with ASC 805, Business Combinations. We recognized a gain of $14 million, recorded within Other non-operating items on our Consolidated Statements of Income in connection with this transaction to record our ownership interest in Entekra at fair value on the acquisition date.