Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the financial results of the EWP segment (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net sales	$	218	$	158	$	388	$	280
Cost of sales	(171)		(136)		(299)		(248)
Gross profit	48		22		89		33
Selling, general, and administrative expenses	(6)		(4)		(9)		(9)
Income from operations of discontinued operations	42		18		80		25
Other non-operating items	—		(3)		—		(5)
Gain on disposal before income taxes	—		—		39		—
Income from discontinued operations before income taxes	42		15		119		19
Provision for income taxes	(5)		(4)		(20)		(5)
Income from discontinued operations, net of income taxes	$	37	$	11	$	99	$	14

The following summarizes the total cash provided by operations and total cash used for investing activities related to the EWP segment and included in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (in millions):

	Six Months Ended June 30,
	2022		2021
Net cash provided by discontinued operating activities	$	46	$	4
Net cash provided by (used in) discontinued investing activities	$	56	$	(3)

The following table presents the aggregate carrying amounts of discontinued operations related to the EWP segment in the Condensed Consolidated Balance Sheets (in millions):

	June 30, 2022		December 31, 2021
Carrying amounts of assets included as part of discontinued operations:
Accounts receivable, net	$	36	$	22
Inventories	54		46
Timber and timberlands	27		42
Property, plant, and equipment, net	30		30
Operating lease assets	1		1
Investments in and advances to affiliates	—		14
Total assets classified as discontinued operations in the condensed consolidated balance sheet	$	148	$	156
Carrying amounts of liabilities included as part of discontinued operations:
Accounts payable and accrued liabilities	$	42	$	34
Other liabilities	27		42
Total liabilities classified as discontinued operations in the condensed consolidated balance sheet	$	69	$	76