Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

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

	Year Ended December 31,
	2022		2021		2020
Net sales	$	455	$	638	$	389
Cost of sales	(355)		(531)		(354)
Gross profit	101		107		35
Selling, general, and administrative expenses	(10)		(18)		(17)
Other operating credits and charges, net	—		—		3
Income from operations of discontinued operations	91		90		21
Other non-operating items	—		5		(4)
Gain on disposal before income taxes	158		—		—
Income from discontinued operations before income taxes	249		95		17
Provision for income taxes	(51)		(24)		(4)
Income from discontinued operations, net of income taxes	$	198	$	71	$	12

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 Consolidated Statements of Cash Flows (dollars in millions):

	Year Ended December 31,
	2022		2021		2020
Net cash provided by discontinued operating activities	$	16	$	71	$	—
Net cash provided by (used in) discontinued investing activities	$	261	$	(6)	$	(7)

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

	December 31, 2021
Carrying amounts of assets included as part of discontinued operations:
Accounts receivable, net	$	22
Inventories	46
Timber and timberlands	42
Property, plant, and equipment, net	30
Operating lease assets	1
Investments in and advances to affiliates	14
Total assets classified as discontinued operations in the Consolidated Balance Sheet	$	156
Carrying amounts of liabilities included as part of discontinued operations:
Accounts payable and accrued liabilities	$	34
Other liabilities	42
Total liabilities classified as discontinued operations in the Consolidated Balance Sheet	$	76