Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

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

Receivables consisted of the following:

	December 31,
	2021		2020
Trade receivables	$	172	$	161
Income tax receivable	1		2
Other receivables	20		23
Allowance for doubtful accounts	(2)		(2)
	$	191	$	184

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, 2021. Included in the inventory balance is a lower of cost or market adjustment of $7 million as of December 31, 2021, and $12 million as of December 31, 2020. Inventory consisted of the following:

	December 31,
	2021		2020
Logs	$	59	$	49
Other raw materials	59		36
Semi-finished inventory	38		28
Finished products	168		146
Total	$	323	$	259

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:

	Year Ended December 31,
	2021		2020		2019
Cost of sales	$	111	$	103	$	115
Selling, general and administrative expenses	3		3		3
Total depreciation and amortization	$	114	$	106	$	118

Property, Plant and Equipment [Table Text Block]

Property, plant, and equipment, including capitalized interest, are recorded at cost and consisted of the following:

	December 31,
	2021		2020
Land, land improvements, and logging roads, net of road amortization	$	182	$	172
Buildings	352		356
Machinery and equipment	2,050		1,971
Construction in progress	202		63
	2,786		2,562
Accumulated depreciation	(1,717)		(1,644)
Property, plant, and equipment, net	$	1,069	$	918

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

Accounts payable and accrued liabilities were as follows:

	December 31,
	2021		2020
Trade accounts payable	$	191	$	125
Salaries and wages payable	71		62
Accrued rebates	45		44
Taxes other than income taxes	12		15
Current portion of operating lease liabilities	7		8
Current portion of contingency reserve	1		1
Other accrued liabilities	11		13
Total Accounts payable and accrued liabilities	$	338	$	268

Other Noncurrent Liabilities [Table Text Block]

Other long-term liabilities were as follows:

	December 31,
	2021		2020
Pension benefit obligation	$	12	$	17
Asset retirement obligations	8		10
Uncertain tax positions	9		9
Post-retirement obligations	9		9
Warranty reserves	6		6
Other	61		35
Total Other long-term liabilities	$	105	$	86

Schedule of Asset Retirement Obligations [Table Text Block]

The activity in our asset retirement obligation liability for 2021 and 2020 is summarized in the following table.

	Year Ended December 31,
	2021		2020
Beginning balance	$	10	$	11
Accretion expense	1		1
Adjusted to expense (cost of sales and other operating credits and charges, net)	(2)		(1)
Payments made	—		(1)
Ending balance	$	8	$	10