Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The components of income from continuing operations before income taxes, including equity in unconsolidated affiliates, were (dollars in millions):

	Years Ended December 31,
	2023		2022		2021
Domestic	$	207	$	961	$	1,491
Foreign	45		198		212
Total	$	252	$	1,159	$	1,704

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of our income tax provision (benefit) from continuing operations were (dollars in millions):

	Years Ended December 31,
	2023		2022		2021
Current tax provision (benefit):
U.S. federal	$	17	$	180	$	284
State and local	(1)		51		56
Foreign	14		42		56
Net current tax provision	30		273		396
Deferred tax provision (benefit):
U.S. federal	22		(1)		2
State and local	1		(4)		—
Foreign	21		12		4
Net valuation allowance increase (decrease)	—		(6)		—
Net deferred tax provision	44		1		6
Total income tax provision	$	74	$	274	$	402

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of significant temporary differences creating deferred tax assets and liabilities were (dollars in millions):

	December 31,
	2023		2022
Deferred tax assets:
Accrued liabilities	$	21	$	20
Research expenditures	19		14
Inventories	14		9
Benefit relating to capital loss, NOL carryforward, and credit carryforwards	10		6
Operating lease liabilities	8		7
Deferred revenue	3		3
Other deferred tax assets	11		15
Total deferred tax assets	86		74
Valuation allowance	(4)		(4)
Total deferred tax asset after valuation allowance	82		70
Deferred tax liabilities:
Property, plant, and equipment	(188)		(152)
Unremitted foreign earnings	(21)		—
Operating lease assets	(8)		(7)
Investment in Entekra	(7)		(7)
Timber and timberlands	(6)		(7)
Other deferred tax liabilities	(4)		(3)
Total deferred tax liabilities	(234)		(176)
Net deferred tax liabilities	$	(152)	$	(106)
Balance sheet classification:
Long-term deferred tax asset	$	11	$	7
Long-term deferred tax liability	(162)		(113)
Net deferred tax liabilities	$	(152)	$	(106)

Summary of Tax Credit Carryforwards [Table Text Block]

The benefit relating to capital loss, operating loss, and credit carryforwards included in the above table at December 31, 2023, consisted of (dollars in millions):

	Operating Loss		Benefit Amount		Valuation Allowance		Expiration Beginning in
Argentina operating loss carryforwards	$	8	$	3	$	—	2028
Canadian capital loss carryforwards	—		4		(4)		No expiration
Chile operating loss carryforwards	4		1		—		No expiration
State credit carryforwards	—		2		—		2034
Total	$	12	$	10	$	(4)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation of the U.S. federal statutory tax rate to the total effective tax rates from continuing operations (dollars in millions):

	Years Ended December 31,
	2023				2022				2021
	Amount ($)		Percent (%)		Amount ($)		Percent (%)		Amount ($)		Percent (%)
U.S. Federal tax rate	$	53	21	%	$	243	21	%	$	358	21	%
State and local income taxes	8		3		34		3		43		3
Effect of foreign tax rates	3		1		9		1		16		1
Uncertain tax positions	7		3		(2)		—		(1)		—
Unremitted foreign earnings	25		10		—		—		—		—
Non deductible compensation	6		2		6		—		3		—
Tax credits	(5)		(2)		(4)		—		(4)		—
Prior year changes in tax laws and positions	(9)		(3)		—		—		—		—
Revisions to prior year estimates	(7)		(3)		2		—		(3)		—
Other items, net	(7)		(3)		(14)		(1)		(10)		(1)
Provision for income taxes	$	74	29	%	$	274	24	%	$	402	24	%

Summary of Income Tax Contingencies [Table Text Block]

Tabular reconciliation of the total amount of unrecognized tax benefits at the beginning and end of the years (dollars in millions): 

	December 31,
	2023		2022		2021
Beginning balance	$	6	$	9	$	11
Increases:
Tax positions taken in current year	1		1		1
Tax positions taken in prior years	6		—		—
Decreases:
Lapse of statute in current year	—		(4)		(3)
Ending balance	$	13	$	6	$	9